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

Templeton Emerging Markets Income Fund ("TEI") Announces Distribution

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

Fort Lauderdale, Florida, December 15, 2005.  Templeton Emerging Markets Income Fund (NYSE: TEI) today announced its quarterly distribution from net investment income of $0.22 per share, payable on January 17, 2006 to shareholders of record on December 30, 2005 (Ex-Dividend Date: December 28, 2005).

While the Fund's investment manager believes there are still good investment opportunities in select emerging market bonds, the Fund has lowered its dividend rate in response to low long term global interest rates and record low emerging market bond spreads, as well as the Fund's more defensive position in its allocation to certain higher yielding emerging market debt.

The Fund’s investment manager 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 $453 billion in assets under management as of November 30, 2005. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.