]> 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 Resources, Inc.
Contact: Franklin Templeton Investments
Telephone:(800) 342-5236

Fort Lauderdale, Florida, December 11, 2007.  Templeton Russia and East European Fund, Inc. (NYSE: TRF) today announced a year-end distribution comprised of net investment income of $0.5019 per share, long-term capital gains distribution of $5.4106 per share and short-term capital gains distribution of $0.0590 per share, payable on December 31, 2007 to shareholders of record on December 21, 2007 (Ex-Dividend Date: December 19, 2007).

The Fund’s investment manager, Templeton Asset Management Ltd., is an indirect, wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment 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 60 years of investment experience and $647 billion in assets under management as of November 30, 2007. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.