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Franklin Templeton Limited Duration Income Trust Declares Monthly Dividend

From: Franklin Advisers, Inc.
Contact: Franklin Templeton Fund Information
Telephone:(800) 342-5236

San Mateo, CA, June 20, 2008 – Franklin Templeton Limited Duration Income Trust [AMEX:FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of $0.076 per share, payable July 15, 2008, to shareholders of record on June 30, 2008.

Based on the Fund’s net asset value (NAV) of $13.15  at the close of the market on June 19, 2008, the Fund’s dividend represents an annualized yield at NAV of 6.94%.  At the Fund’s market price of $11.59  at the close of the American Stock Exchange on June 19, 2008, the Fund’s dividend represents an annualized market yield of 7.87%.

The July dividend distribution amount for the Fund is a reduction from the prior month’s dividend payout of $0.084.  The adjustment reflects a decline in the Fund’s current earnings, due primarily to a decline in short-term U.S. interest rates over the past year.  Both the Fund’s floating-rate assets and its leverage are tied to short-term interest rates.  Since the Fund has held a larger amount of floating-rate assets compared to its leverage, the decline in short-term interest rates has caused a reduction in the Fund’s distributable income.   

Franklin Advisers, Inc. is a 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, Fiduciary Trust, Darby and Bissett investment teams.  The San Mateo, CA-based company has more than 60 years of investment experience and approximately $623 billion in assets under management as of May 31, 2008.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.