]> Press Releases--Templeton Releases Closed-End Fund's Portfolio Allocation Update
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Templeton Releases Closed-End Fund's Portfolio Allocation Update

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

Fort Lauderdale, Florida, September 29, 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 August 31, 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 Fund’s 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 $444 billion in assets under management as of August 31, 2005. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.

TEMPLETON EMERGING MARKETS FUND
AS OF AUGUST 31, 2005
TOTAL NET ASSETS: $318,281,929
NET ASSET VALUE PER SHARE: $17.99

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS TEN LARGEST POSITIONS PERCENT OF TOTAL NET ASSETS
CASH & OTHER 3.4% SAMSUNG ELECTRONICS CO LTD 3.2%
EQUITY* 96.6%
========
CHINA MOBILE (HONG KONG) LTD 3.1%
100.0% ANGLO AMERICAN PLC 2.1%
REMGRO LTD 2.0%
KEPPEL CORPORATION LTD 1.9%
KIMBERLY-CLARK DE MEXICO SA DE CV 1.8%
PETROLIO BRASILEIRO SA (PETROBRAS) 1.8%
BANCO BRADESCO SA 1.8%
DAEWOO SHIPBUILDING & MARINE ENGINEERING CO LTD 1.7%
HSBC HOLDINGS PLC 1.7%
========
21.1%
INTERNATIONAL ALLOCATION PERCENT OF PORTFOLIO NET ASSETS INDUSTRY ALLOCATION PERCENT OF PORTFOLIO NET ASSETS
ASIA 62.9% CONSUMER DISCRETIONARY 7.0%
CHINA 9.9% AUTOMOBILES & COMPONENTS 0.7%
HONG KONG 2.9% CONSUMER DURABLES & APPAREL 2.1%
INDIA 3.5% CONSUMER SERVICES 2.5%
INDONESIA 0.1% MEDIA 0.6%
MALAYSIA 2.4% RETAILING 1.0%
PHILIPPINES 1.1% CONSUMER STAPLES 15.2%
SINGAPORE 5.5% FOOD & STAPLES RETAILING 2.0%
SOUTH KOREA 17.5% FOOD BEVERAGE & TOBACCO 8.9%
TAIWAN 13.9% HOUSEHOLD & PERSONAL PRODUCTS 4.3%
THAILAND 2.9% ENERGY 8.9%
TURKEY 3.2% FINANCIALS 19.0%
EUROPE 15.2% BANKS 11.9%
AUSTRIA 0.9% DIVERSIFIED FINANCIALS 4.1%
BELGIUM 0.6% INSURANCE 1.4%
CROATIA 0.8% REAL ESTATE 1.6%
GREECE 0.3% HEALTH CARE 1.5%
HUNGARY 2.7% PHARMACEUTICALS & BIOTECHNOLOGY 1.5%
POLAND 2.6% INDUSTRIALS 12.0%
PORTUGAL 0.2% CAPITAL GOODS 10.9%
RUSSIA 3.6% TRANSPORTATION 1.1%
SWEDEN 0.8% INFORMATION TECHNOLOGY 11.3%
UNITED KINGDOM 2.7% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 7.6%
LATIN AMERICA 13.7% SOFTWARE & SERVICES 0.4%
BRAZIL 8.8% TECHNOLOGY HARDWARE & EQUIPMENT 3.3%
MEXICO 4.5% MATERIALS 9.2%
PANAMA 0.3% TELECOMMUNICATION SERVICES 13.2%
MID-EAST/AFRICA 8.2% UTILITIES 2.7%
========
SOUTH AFRICA 8.2%
========
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 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 EMERGING MARKETS INCOME FUND
AS OF AUGUST 31, 2005
TOTAL NET ASSETS: $650,704,430
NET ASSET VALUE PER SHARE: $13.75

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 4.1% WEIGHTED AVG. CREDIT QUALITY BB-
FIXED INCOME 95.9% WEIGHTED AVG. MATURITY 9 yrs.
EQUITY* 0.0%
=========
WEIGHTED AVG. DURATION 5.40 yrs.
100.0% WEIGHTED AVG. COUPON 7.415%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
NORTH AMERICA 66.1% EUROPE 22.5%
US DOLLAR 66.1% BOSNIA AND HERZEGOVINA 1.9%
ASIA 18.3% POLAND 4.7%
INDO RUPIAH 9.5% RUSSIA 9.8%
SOUTH KOREAN WON 4.6% SLOVAK REPUBLIC 2.1%
THAILAND BAHT 4.1% UKRAINE 4.0%
EUROPE 11.5% ASIA 24.6%
EURO MON UNIT 4.7% INDONESIA 10.9%
POLAND ZLOTY 4.7% PHILIPPINES 4.8%
SLOVAK KORUNA 2.1% SOUTH KOREA 4.6%
LATIN AMERICA 4.1% THAILAND 4.1%
PERU NUEVO SOL 4.1%
========
VIETNAM 0.1%
TOTAL 100.0% LATIN AMERICA 47.7%
ARGENTINA 9.3%
BRAZIL 16.8%
COLOMBIA 3.5%
MEXICO 1.4%
PANAMA 1.0%
PERU 4.9%
VENEZUELA 10.7%
MID-EAST/AFRICA 1.4%
SOUTH AFRICA 1.4%
NORTH AMERICA 3.9%
UNITED STATES 3.9%
========
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 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 AUGUST 31, 2005
TOTAL NET ASSETS: $1,172,274,438
NET ASSET VALUE PER SHARE: $9.02

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 2.8% WEIGHTED AVG. CREDIT QUALITY A+
FIXED INCOME 97.2% WEIGHTED AVG. MATURITY 4 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 3.66 yrs.
100.0% WEIGHTED AVG. COUPON 6.285%


NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
ASIA 29.7% ASIA 31.6%
INDO RUPIAH 5.3% INDONESIA 5.3%
MALAYSI RINGGIT 2.2% MALAYSIA 2.2%
SOUTH KOREA WON 14.5% PHILIPPINES 1.9%
SINGAPORE DOLLAR 2.1% SINGAPORE 2.1%
THAILAND BAHT 5.5% SOUTH KOREA 14.5%
AUSTRALIA/NEW ZEALAND 11.1% THAILAND 5.5%
AUSTRALIAN DLR 5.2% AUSTRALIA/NEW ZEALAND 9.7%
N ZEAL DOLLAR 5.9% AUSTRALIA 5.2%
EUROPE 41.3% NEW ZEALAND 4.5%
BRITISH POUND 0.1% EUROPE 40.4%
DANISH KRONE 1.8% AUSTRIA 1.7%
EURO MON UNIT 13.5% BELGIUM 2.8%
NORWEGIAN KRONE 4.7% DENMARK 1.8%
POLAND ZLOTY 7.8% FINLAND 1.0%
SLOVAK KORUNA 4.8% FRANCE 1.3%
SWEDISH KRONA 8.5% GERMANY 1.4%
LATIN AMERICA 3.1% GREECE 0.5%
PERU NUEVO SOL 3.1% IRELAND 0.8%
NORTH AMERICA 14.9% NETHERLANDS 0.5%
CANADIAN DOLLAR 5.9% NORWAY 4.7%
US DOLLAR 9.0% POLAND 7.8%
======== SLOVAK REPUBLIC 4.8%
TOTAL 100.0% SPAIN 2.0%
SWEDEN 8.5%
UKRAINE 0.5%
UNITED KINGDOM 0.1%
LATIN AMERICA 9.4%
ARGENTINA 1.3%
BRAZIL 0.4%
MEXICO 1.1%
PERU 3.1%
VENEZUELA 3.5%
MID-EAST/AFRICA 0.2%
SOUTH AFRICA 0.2%
NORTH AMERICA 8.7%
CANADA 5.9%
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). Since markets 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.