]> Press Release - Closed-End - FTF dividend
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Franklin Templeton Limited Duration Income Trust Declares Monthly Dividend

From: Franklin Advisers, Inc.
Contact: Franklin Templeton Fund Information
Telephone:(800) 342-5236

San Mateo, CA, April 19, 2005 - Franklin Templeton Limited Duration Income Trust [AMEX:FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of $0.091 per share, payable May 13, 2005, to shareholders of record on April 29, 2005.

Based on the Fund’s net asset value (NAV) of $14.38 at the close of the market on April 18, 2005, the Fund’s dividend represents an annualized yield at NAV of 7.59%. At the Fund’s market price of $13.93 at the close of the market on April 18, 2005, the Fund’s dividend represents an annualized market yield of 7.84%.

Since the Fund's inception in August 2003, yield spreads across the Fund's major asset categories (high-yield corporate bonds, corporate bank loans and mortgage- and asset-backed securities) have tightened. Consequently, in this environment, as Fund holdings are called by issuers or sold and replaced with lower yielding assets, the Fund's distributable income is reduced, necessitating an adjustment to the dividend payout for the Fund.

Franklin Advisers, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management 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 $412 billion in assets under management as of March 31, 2005. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.