]> Press Releases--Closed-End Funds, TDF Announces Dividend
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Templeton Dragon Fund, Inc. ("TDF") Announces Dividend

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

Fort Lauderdale, Florida, March 10, 2005--Templeton Dragon Fund, Inc. (NYSE: TDF) today announced a distribution comprised of net investment income of $0.1406 per share and long-term capital gains distribution of $0.0143 per share, payable on April 8, 2005 to shareholders of record on March 24, 2005 (Ex-Dividend Date: March 22, 2005).

The Fund's investment manager, Templeton Asset Management Ltd., is an indirect, 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 $415 billion in assets under management as of February 28, 2005. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.