]> Press Releases--Closed-End Funds, TDF Announces Distribution

Templeton Dragon Fund, Inc. ("TDF") Announces Distribution

From: Franklin Templeton Investments
Contact: Franklin Templeton Investments
Telephone:(800) 342-5236

Fort Lauderdale, Florida, December 15, 2005. Templeton Dragon Fund, Inc. (NYSE: TDF) today announced a year-end distribution comprised of net investment income of $0.2648 per share, long-term capital gains distribution of $0.2658 per share and short-term capital gains distribution of $0.0816, payable on January 17, 2006 to shareholders of record on December 30, 2005 (Ex-Dividend Date: December 28, 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 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 $453 billion in assets under management as of November 30, 2005. For more information, please call 1-800/DIAL BENĀ® (1-800-342-5236) or visit franklintempleton.com.