]> Press Releases--Closed-End Funds, TEI Announces Dividend
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Templeton Emerging Markets Income Fund, Inc. ("TEI") Announces Dividend

From: Franklin Templeton Investments
Contact: Lisa Gallegos
Telephone:(650) 312-3395

Fort Lauderdale, Florida, March 17, 2004--Templeton Emerging Markets Income Fund, Inc. (NYSE: TEI) today announced its quarterly dividend from net investment income of $0.25 per share, payable on April 15, 2004 to shareholders of record on March 31, 2004 (Ex-Dividend Date: March 29, 2004).

The Fund's investment manager is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The San Mateo, CA-based company has over 50 years of investment experience and more than $351 billion in assets under management as of February 29, 2004. For more information, please call 1-800/DIAL BEN® (1-800-342-5236).