]> Templeton Russia and East European Fund, Inc. ("TRF") Announces Distribution
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Templeton Russia and East European Fund, Inc. ("TRF") Announces Distribution

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

Fort Lauderdale, Florida, May 21, 2007.  Templeton Russia and East European Fund, Inc. (NYSE: TRF) today announced a distribution from long-term capital gains of $3.9272 per share, payable on June 19, 2007 to shareholders of record on June 5, 2007 (Ex-Dividend Date: June 1, 2007).

The Fund's investment adviser, Templeton Asset Management Ltd., is an indirect, 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 $601 billion in assets under management as of April 30, 2007. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.