]> Press Releases--Closed-End Funds, Templeton Releases Portfolio Allocation Update
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Templeton Releases Closed-End Funds' Portfolio Allocation Updates

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

Fort Lauderdale, Florida, April 12, 2004.  The Templeton closed-end Funds referenced below, which trade on the New York Stock Exchange, today released portfolio allocation updates containing the following information as of February 29, 2004:

  • Asset Allocation
  • Ten Largest Positions/Portfolio Characteristics
  • International Allocation/Net Currency Distribution
  • Industry Allocation/Country Distribution

To obtain a copy of the updates, please contact Fund Information at 1-800-342-5236.

Templeton closed-end Funds:

            Templeton Emerging Markets Fund (NYSE: EMF)

            Templeton Emerging Markets Income Fund, Inc. (NYSE: TEI)

            Templeton Global Income Fund, Inc. (NYSE: GIM)

The Funds’ investment advisers are subsidiaries of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has more than 50 years of investment experience and over $351 billion in assets under management as of February 29, 2004. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.

TEMPLETON EMERGING MARKETS FUND
AS OF FEBRUARY 29, 2004
TOTAL NET ASSETS: $245,597,612
NET ASSET VALUE PER SHARE: $13.89

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS TEN LARGETS POSITIONS
SHORT TERM & OTHER 2.6% ANGLO AMERICAN PLC 4.5%
EQUITY* 97.4%
========
SABMILLER PLC 2.8%
100.0% CHINA MOBILE (HONG KONG) LTD 2.6%
LUKOIL HOLDINGS 2.3%
CITIC PACIFIC LTD 2.2%
HYUNDAI MOTOR CO LTD 2.2%
TELEFONOS DE MEXICO SA (TELEMEX) 1.8%
KIMBERLY-CLARK DE MEXICO SA DE CV 1.8%
FRASER & NEAVE LTDO SA (PETROBRAS) 1.7%
KEPPEL CORPORATION LTD 1.6%
23.4%
INTERNATIONAL ALLOCATION PERCENT OF TOTAL NET ASSETS INDUSTRY ALLOCATION PERCENT OF TOTAL NET ASSETS
ASIA 59.5% CONSUMER DISCRETIONARY 8.2%
CHINA 7.7% AUTOMOBILES & COMPONENTS 2.8%
HONG KONG 9.7% CONSUMER DURABLES & APPAREL 2.0%
INDIA 2.6% HOTELS RESTAURANTS & LEISURE 2.1%
INDONESIA 1.9% RETAILING 1.3%
MALAYSIA 0.8% CONSUMER STAPLES 14.9%
PHILIPPINES 0.9% FOOD BEVERAGE & TOBACCO 11.1%
SINGAPORE 6.4% FOOD & STAPLES RETAILING 1.5%
SOUTH KOREA 13.5% HOUSEHOLD & PERSONAL PRODUCTS 2.3%
TAIWAN 11.4% ENERGY 16.4%
THAILAND 2.4% ENERGY 16.4%
TURKEY 2.2% FINANCIALS 11.5%
EUROPE 15.4% BANKS 6.9%
AUSTRIA 2.4% DIVERSIFIED FINANCIALS 1.7%
BELGIUM 0.3% INSURANCE 0.5%
CROATIA 0.8% REAL ESTATE 2.4%
CZECH REPUBLIC 2.3% HEALTH CARE 2.3%
GREECE 1.8% PHARMACEUTICALS & BIOTECHNOLOGY 2.3%
HUNGARY 3.3% INDUSTRIALS 13.8%
POLAND 2.0% CAPITAL GOODS 12.0%
RUSSIA 2.5% TRANSPORTATION 1.8%
UNITED KINGDOM 1.4% INFORMATION TECHNOLOGY 6.4%
LATIN AMERICA 12.8% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 1.2%
ARGENTINA 0.8% SOFTWARE & SERVICES 0.6%
BRAZIL 6.7% TECHNOLOGY HARDWARE & EQUIPMENT 4.5%
MEXICO 5.3% MATERIALS 8.3%
MID-EAST/AFRICA 12.3% MATERIALS 8.3
EGYPT 0.2% TELECOMMUNICATION SERVICES 14.7%
SOUTH AFRICA 12.0%
========
TELECOMMUNICATION SERVICES 14.7%
TOTAL EQUITY* 100% UTILITIES 3.5%
UTILITIES 3.5%
========
TOTAL EQUITY* 100.0%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800/DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The industry allocation uses MSCI's industry definitions for the convenience of comparison. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

 

TEMPLETON EMERGING MARKETS INCOME FUND, INC.
AS OF FEBRUARY 29, 2004
TOTAL NET ASSETS: $630,714,581
NET ASSET VALUE PER SHARE: $13.37

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 4.9% WEIGHTED AVG. CREDIT QUALITY BB-
FIXED INCOME 95.1% WEIGHTED AVG. MATURITY 11 yrs.
EQUITY* 0.0%
=========
WEIGHTED AVG. DURATION 5.01 yrs.
100.0% WEIGHTED AVG. COUPON 8.704%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
NORTH AMERICA 70.7% EUROPE 24.9%
US DOLLAR 70.7% BULGARIA 4.3%
ASIA 16.7% HUNGARY 2.7%
INDO RUPIAH 8.3% NETHERLANDS 0.7%
SOUTH KOREA WON 3.5% RUSSIA 12.7%
THAILAND BAHT 4.4% UKRAINE 4.7%
EUROPE 12.5% ASIA 28.8%
EURO MON UNIT 9.9% INDONESIA 10.6%
HUNGARY FORINT 2.7%
========
MALAYSIA 3.9%
TOTAL 100.0% PHILIPPINES 4.6%
SOUTH KOREA 4.5%
THAILAND 4.4%
VIETNAM 0.8%
LATIN AMERICA 39.4%
BRAZIL 19.4%
COLOMBIA 4.7%
MEXICO 4.4%
PANAMA 0.9%
PERU 1.4%
VENEZUELA 8.5%
MID-EAST/AFRICA 2.0%
SOUTH AFRICA 2.0%
NORTH AMERICA 4.9%
UNITED STATES 4.9%
========
TOTAL EQUITY* 100.0%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800/DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

 

TEMPLETON GLOBAL INCOME FUND, INC.
AS OF FEBRUARY 29, 2004
TOTAL NET ASSETS: $1,166,324,332
NET ASSET VALUE PER SHARE: $8.99

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 2.8% WEIGHTED AVG. CREDIT QUALITY AA-
FIXED INCOME 97.2% WEIGHTED AVG. MATURITY 6 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 4.76 yrs.
100.0% WEIGHTED AVG. COUPON 6.864%
NET CURRENCY DISTRIBUTION BREAKDOWN OF TOTAL PORTFOLIO ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS 
ASIA 17.3% ASIA 20.7%
INDO RUPIAH 5.3% INDONESIA 5.3%
SOUTH KOREA WON 7.6% PHILIPPINES 3.4%
THAILAND BAHT 4.3% SOUTH KOREA 7.6%
AUSTRALIA/NEW ZELAND 14.8% THAILAND 4.3%
AUSTRALIAN DLR 6.3% AUSTRALIA/NEW ZELAND 14.8%
N ZEAL DOLLAR 8.5% AUSTRALIA 6.3%
EUROPE 50.1% NEW ZELAND 8.5%
BRITISH POUND 0.6% EUROPE 52.1%
DANISH KRONE 1.7% AUSTRIA 4.4%
EURO MON UNIT 34.7% BELGIUM 3.5%
HUNGARY FORINT 1.3% DENMARK 1.7%
NORWEGIAN KRONE 2.8% FINLAND 4.3%
SWEDISH KRONA 9.1% FRANCE 6.9%
NORTH AMERICA 17.8% GERMANY 3.5%
CANADIAN DOLLAR 1.9% GREECE 0.5%
US DOLLAR 15.9% HUNGARY 1.3%
  ======== IRISH REPUBLIC 1.3%
TOTAL PORTFOLIO 100.0% ITALY 2.9%
ASSETS NETHERLANDS 2.3%
NORWAY 2.8%
RUSSIA 2.4%
SPAIN 2.6%
SWEDEN 9.1%
UKRAINE 2.1%
UNITED KINGDOM 0.6%
LATIN AMERICA 8.0%
BRAZIL 0.3%
COLOMBIA 1.0%
MEXICO 2.2%
PERU 0.4%
VENEZUELA 4.1%
MID-EAST/AFRICA 0.2%
SOUTH AFRICA 0.2%
NORTH AMERICA 4.2%
CANADA 1.9%
UNITED STATES 2.3%
TOTAL NET ASSETS 100.0%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800/DIAL BEN® (1-800-342-5236). Since markets can go down as well as up, investment return and principal value will fluctuate with market conditions, currency volatility, and the economic, social and political climates of countries where the Fund invests. Emerging markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. You may have a gain or loss when you sell your shares. The information provided is as of the date shown. The Fund's portfolio is actively managed and investment allocations can be expected to change.

* EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.