]> Templeton Dragon Fund, Inc. (“TDF”) Announces Dividend
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Templeton Dragon Fund, Inc. (“TDF”) Announces Dividend

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

Fort Lauderdale, Florida, March 9, 2007. Templeton Dragon Fund, Inc. (NYSE: TDF) today announced a dividend comprised of net investment income of $0.3339 per share, short-term capital gains distribution of $0.0252 per share and long-term capital gains distribution of $0.8581 per share, payable on April 9, 2007 to shareholders of record on March 23, 2007 (Ex-Dividend Date: March 21, 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 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 $564 billion in assets under management as of February 28, 2007. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.