]> Press Releases--Close-End Funds, Portfolio Allocatin Updates
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Templeton Releases Closed-End Funds' Portfolio Allocation Updates

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

Fort Lauderdale, Florida, December 30, 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 November 30, 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 $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.

TEMPLETON EMERGING MARKETS FUND
AS OF NOVEMBER 30, 2005
TOTAL NET ASSETS: $320,459,980
NET ASSET VALUE PER SHARE: $17.99

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS TEN LARGEST POSITIONS PERCENT OF TOTAL NET ASSETS
CASH & OTHER 1.9% SAMSUNG ELECTRONICS CO LTD 3.7%
EQUITY* 98.1%
========
CHINA MOBILE (HONG KONG) LTD 3.1%
100.0% BANCO BRADESCO SA 2.2%
ANGLO AMERICAN PLC 2.2%
REMGRO LTD 2.2%
PETROCHINA CO LTD 1.9%
KIMBERLY-CLARK DE MEXICO SA DE CV 1.8%
HSBC HOLDINGS PLC 1.7%
PETROLIO BRASILEIRO SA (PETROBRAS) 1.6%
LUKOIL HOLDINGS 1.5%
========
21.9%
INTERNATIONAL ALLOCATION PERCENT OF PORTFOLIO NET ASSETS INDUSTRY ALLOCATION PERCENT OF PORTFOLIO NET ASSETS
ASIA 64.4% CONSUMER DISCRETIONARY 7.5%
CHINA 10.8% AUTOMOBILES & COMPONENTS 1.1%
HONG KONG 2.3% CONSUMER DURABLES & APPAREL 2.4%
INDIA 2.7% CONSUMER SERVICES 2.4%
INDONESIA 0.4% MEDIA 0.5%
MALAYSIA 2.4% RETAILING 1.1%
PHILIPPINES 1.0% CONSUMER STAPLES 12.6%
SINGAPORE 3.8% FOOD & STAPLES RETAILING 1.8%
SOUTH KOREA 20.0% FOOD BEVERAGE & TOBACCO 7.4%
TAIWAN 13.8% HOUSEHOLD & PERSONAL PRODUCTS 3.5%
THAILAND 3.4% ENERGY 9.2%
TURKEY 3.8% FINANCIALS 21.0%
EUROPE 13.1% BANKS 13.5%
AUSTRIA 0.3% DIVERSIFIED FINANCIALS 4.8%
CROATIA 0.8% INSURANCE 1.4%
FINLAND 0.3% REAL ESTATE 1.4%
GREECE 0.1% HEALTH CARE 1.5%
HUNGARY 2.3% PHARMACEUTICALS & BIOTECHNOLOGY 1.5%
POLAND 1.7% INDUSTRIALS 11.0%
PORTUGAL 0.2% CAPITAL GOODS 9.7%
RUSSIA 4.0% TRANSPORTATION 1.3%
SWEDEN 0.8% INFORMATION TECHNOLOGY 11.8%
UNITED KINGDOM 2.7% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 8.2%
LATIN AMERICA 13.4% SOFTWARE & SERVICES 0.3%
BRAZIL 8.8% TECHNOLOGY HARDWARE & EQUIPMENT 3.3%
MEXICO 4.3% MATERIALS 10.6%
PANAMA 0.3% TELECOMMUNICATION SERVICES 11.7%
MID-EAST/AFRICA 8.7% UTILITIES 3.1%
========
SOUTH AFRICA 8.7% TOTAL EQUITY * 100%
NORTH AMERICA 0.3%
UNITED STATES 0.3%
========
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 industry allocation uses MSCI's industry definitions for the convenience of comparison. 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 NOVEMBER 30, 2005
TOTAL NET ASSETS: $651,770,499
NET ASSET VALUE PER SHARE: $13.77

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 6.8% WEIGHTED AVG. CREDIT QUALITY BB+
FIXED INCOME 93.2% WEIGHTED AVG. MATURITY 9.11 yrs.
EQUITY* 0.0%
=========
WEIGHTED AVG. DURATION 4.21 yrs.
100.0% WEIGHTED AVG. COUPON 7.65%
NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
NORTH AMERICA 64.9% EUROPE 21.7%
US DOLLAR 64.9% BOSNIA AND HERZEGOVINA 1.8%
ASIA 20.2% POLAND 4.5%
INDO RUPIAH 10.8% RUSSIA 9.5%
SOUTH KOREAN WON 4.5% SLOVAK REPUBLIC 2.0%
THAILAND BAHT 4.9% UKRAINE 3.9%
EUROPE 10.1% ASIA 26.7%
EURO MON UNIT 3.6% INDONESIA 12.2%
POLAND ZLOTY 4.5% PHILIPPINES 5.0%
SLOVAK KORUNA 2.0% SOUTH KOREA 4.5%
LATIN AMERICA 4.0% THAILAND 4.9%
PERU NUEVO SOL 4.0% VIETNAM 0.1%
MID_EAST/AFRICA 0.8% LATIN AMERICA 47.1%
EGYPTIAN POUND 0.8%
========
ARGENTINA 9.9%
TOTAL 100.0% BRAZIL 16.6%
COLOMBIA 3.5%
MEXICO 1.3%
PANAMA 1.0%
PERU 4.8%
VENEZUELA 10.0%
MID-EAST/AFRICA 1.3%
EGYPT 0.8%
SOUTH AFRICA 0.5%
NORTH AMERICA 3.3%
UNITED STATES 3.3%
========
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 NOVEMBER 30, 2005
TOTAL NET ASSETS: $1,138,143,505
NET ASSET VALUE PER SHARE: $8.76

ASSET
ALLOCATION
PERCENT OF TOTAL NET ASSETS PORTFOLIO CHARACTERISTICS
CASH & OTHER 2.7% WEIGHTED AVG. CREDIT QUALITY A+
FIXED INCOME 97.3% WEIGHTED AVG. MATURITY 4.1 yrs.
EQUITY* 0.0%
========
WEIGHTED AVG. DURATION 2.93 yrs.
100.0% WEIGHTED AVG. COUPON 6.41%


NET CURRENCY DISTRIBUTION PERCENT OF TOTAL NET ASSETS COUNTRY DISTRIBUTION PERCENT OF TOTAL NET ASSETS
ASIA 32.1% ASIA 34.0%
INDO RUPIAH 6.2% INDONESIA 6.2%
MALAYSI RINGGIT 2.3% MALAYSIA 2.3%
SOUTH KOREA WON 14.8% PHILIPPINES 2.0%
SINGAPORE DOLLAR 2.9% SINGAPORE 2.9%
THAILAND BAHT 5.9% SOUTH KOREA 14.8%
AUSTRALIA/NEW ZEALAND 10.9% THAILAND 5.9%
AUSTRALIAN DLR 5.2% AUSTRALIA/NEW ZEALAND 9.5%
N ZEAL DOLLAR 5.7% AUSTRALIA 5.2%
EUROPE 39.5% NEW ZEALAND 4.3%
DANISH KRONE 1.7% EUROPE 38.4%
EURO MON UNIT 11.3% AUSTRIA 2.9%
ICELAND KRONA 1.2% BELGIUM 2.4%
NORWEGIAN KRONE 4.7% DENMARK 1.7%
POLAND ZLOTY 7.8% FINLAND 0.9%
SLOVAK KORUNA 4.8% FRANCE 0.2%
SWEDISH KRONA 8.0% GERMANY 1.4%
LATIN AMERICA 3.1% GREECE 0.5%
PERU NUEVO SOL 3.1% IRELAND 0.7%
MID-EAST/AFRICA 0.5% NETHERLANDS 0.1%
EGYPTIAN POUND 0.5% NORWAY 4.7%
NORTH AMERICA 13.9% POLAND 7.8%
CANADIAN DOLLAR 6.7% SLOVAK REPUBLIC 4.8%
US DOLLAR 7.2% SPAIN 2.0%
======== SWEDEN 8.0%
TOTAL 100.0% UKRAINE 0.3%
LATIN AMERICA 8.4%
ARGENTINA 1.8%
BRAZIL 0.4%
MEXICO 1.0%
PERU 3.1%
VENEZUELA 2.1%
MID-EAST/AFRICA 0.7%
EGYPT 0.5%
SOUTH AFRICA 0.2%
NORTH AMERICA 8.9%
CANADA 6.7%
UNITED STATES 2.2%
========
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.