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

Templeton Releases Closed-End Funds' Portfolio Allocation Updates

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

Fort Lauderdale, Florida, March 23, 2005.  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 28, 2005:

  • 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 (NYSE: TEI)

            Templeton Global Income Fund (NYSE: GIM)

The Funds' investment advisers are subsidiaries 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.

TEMPLETON EMERGING MARKETS FUND
AS OF FEBRUARY 28, 2005
TOTAL NET ASSETS: $306,131,099
NET ASSET VALUE PER SHARE: $17.30

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS TEN LARGEST POSITIONS
CASH & OTHER 3.7% SAMSUNG ELECTRONICS CO LTD 3.4%
EQUITY* 96.3%
========
ANGLO AMERICAN PLC 2.7%
100.0% CHINA MOBILE (HONG KONG) LTD 2.3%
MOL MAGYAR OLAJ-ES GAZIPARI RT 2.3%
BANCO BRADESCO SA 2.2%
REMGRO LTD 2.0%
TELEKOMUNIKACJA POLSKA SA 1.9%
KIMBERLY-CLARK DE MEXICO SA DE CV 1.9%
INBEV 1.8%
SAMSUNG HEAVY INDUSTRIES CO LTD 1.8%
========
22.4%
INTERNATIONAL ALLOCATION PERCENT OF PORTFOLIO NET ASSETS INDUSTRY ALLOCATION PERCENT OF PORTFOLIO NET ASSETS
ASIA 60.2% CONSUMER DISCRETIONARY 6.9%
CHINA 9.1% AUTOMOBILES & COMPONENTS 0.9%
HONG KONG 3.1% CONSUMER DURABLES & APPAREL 2.1%
INDIA 3.2% HOTELS RESTAURANTS & LEISURE 2.3%
INDONESIA 0.1% MEDIA 0.6%
MALAYSIA 1.5% RETAILING 1.0%
PHILIPPINES 0.9% CONSUMER STAPLES 16.0%
SINGAPORE 5.9% FOOD & STAPLES RETAILING 1.7%
SOUTH KOREA 18.1% FOOD BEVERAGE & TOBACCO 10.4%
TAIWAN 13.5% HOUSEHOLD & PERSONAL PRODUCTS 3.9%
THAILAND 1.4% ENERGY 11.1%
TURKEY 3.6% FINANCIALS 17.0%
EUROPE 17.6% BANKS 9.8%
AUSTRIA 2.6% DIVERSIFIED FINANCIALS 3.6%
BELGIUM 1.9% INSURANCE 1.6%
CROATIA 0.6% REAL ESTATE 2.0%
CZECH REPUBLIC 0.3% HEALTH CARE 1.3%
GREECE 0.9% PHARMACEUTICALS & BIOTECHNOLOGY 1.3%
HUNGARY 3.8% INDUSTRIALS 12.4%
POLAND 3.8% CAPITAL GOODS 11.4%
RUSSIA 1.5% TRANSPORTATION 1.0%
SWEDEN 0.5% INFORMATION TECHNOLOGY 11.6%
UNITED KINGDOM 1.7% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 7.5%
LATIN AMERICA 12.6% SOFTWARE & SERVICES 0.4%
BRAZIL 8.8% TECHNOLOGY HARDWARE & EQUIPMENT 3.7%
MEXICO 3.7% MATERIALS 10.1%
PANAMA 0.1% TELECOMMUNICATION SERVICES 10.9%
MID-EAST/AFRICA 9.6% UTILITIES 2.8%
========
SOUTH AFRICA 9.6%
========
TOTAL EQUITY* 100%
TOTAL EQUITY* 100%

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 theeconomic, 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. Theinformation 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
AS OF FEBRUARY 28, 2005
TOTAL NET ASSETS: $674,596,238
NET ASSET VALUE PER SHARE: $14.27

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 2.8% WEIGHTED AVG. CREDIT QUALITY BB
FIXED INCOME 97.2% WEIGHTED AVG. MATURITY 7 yrs.
EQUITY* 0.0%
=========
WEIGHTED AVG. DURATION 5.04 yrs.
100.0% WEIGHTED AVG. COUPON 8.098%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
NORTH AMERICA 66.6% EUROPE 25.6%
US DOLLAR 66.6% BOSNIA AND HERZEGOVINA 1.3%
ASIA 18.0% HUNGARY 3.2%
INDO RUPIAH 9.0% POLAND 4.7%
MALAYSIA RINGGIT 0.1% RUSSIA 11.5%
SOUTH KOREAN WON 4.8% UKRAINE 4.9%
THAILAND BAHT 4.1% ASIA 24.6%
EUROPE 15.4% INDONESIA 9.8%
EURO MON UNIT 7.5% MALAYSIA 0.1%
HUNGARY FORINT 3.2% PHILIPPINES 4.8%
POLAND ZLOTY 4.7%
========
SOUTH KOREA 4.8%
TOTAL 100.0% THAILAND 4.1%
VIETNAM 0.9%
LATIN AMERICA 44.8%
ARGENTINA 4.6%
BRAZIL 17.9%
COLOMBIA 3.5%
MEXICO 5.3%
PANAMA 0.9%
PERU 2.9%
VENEZUELA 9.8%
MID-EAST/AFRICA 2.2%
SOUTH AFRICA 2.2%
NORTH AMERICA 2.8%
UNITED STATES 2.8%
========
TOTAL 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). Sincemarkets 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
AS OF FEBRUARY 28, 2005
TOTAL NET ASSETS: $1,245,562,103
NET ASSET VALUE PER SHARE: $9.59

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 3.6% WEIGHTED AVG. CREDIT QUALITY A+
FIXED INCOME 96.4% WEIGHTED AVG. MATURITY 4 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 3.70 yrs.
100.0% WEIGHTED AVG. COUPON 6.577%


NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
ASIA 25.8% ASIA 27.7%
INDO RUPIAH 5.6% INDONESIA 5.6%
MALAYSI RINGGIT 0.2% MALAYSIA 0.2%
SOUTH KOREA WON 13.6% PHILIPPINES 1.9%
SINGAPORE DOLLAR 0.6% SINGAPORE 0.6%
THAILAND BAHT 5.8% SOUTH KOREA 13.6%
AUSTRALIA/NEW ZEALAND 12.5% THAILAND 5.8%
AUSTRALIAN DLR 5.5% AUSTRALIA/NEW ZEALAND 9.9%
N ZEAL DOLLAR 6.9% AUSTRALIA 5.5%
EUROPE 44.5% NEW ZEALAND 4.3%
BRITISH POUND 0.1% EUROPE 49.3%
DANISH KRONE 1.7% AUSTRIA 2.3%
EURO MON UNIT 16.2% BELGIUM 2.8%
HUNGARY FORINT 1.6% DENMARK 1.7%
NORWEGIAN KRONE 3.9% FINLAND 2.0%
POLAND ZLOTY 6.7% FRANCE 1.5%
SLOVAK KORUNA 4.9% GERMANY 3.0%
SWEDISH KRONA 9.4% GREECE 0.5%
NORTH AMERICA 17.2% HUNGARY 1.6%
CANADIAN DOLLAR 5.3% IRISH REPUBLIC 1.3%
US DOLLAR 11.8% NETHERLANDS 0.5%
======== NORWAY 3.9%
TOTAL 100.0% POLAND 6.7%
RUSSIA 2.1%
SLOVAK REPUBLIC 4.9%
SPAIN 2.1%
SWEDEN 9.4%
UKRAINE 2.9%
UNITED KINGDOM 0.1%
LATIN AMERICA 5.8%
BRAZIL 0.6%
COLOMBIA 0.5%
MEXICO 1.1%
PERU 0.2%
VENEZUELA 3.4%
MID-EAST/AFRICA 0.2%
SOUTH AFRICA 0.2%
NORTH AMERICA 7.1%
CANADA 5.3%
UNITED STATES 1.7%
========
TOTAL 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 theeconomic, 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. Theinformation 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.