FRANKLIN® TEMPLETON® INVESTMENTS FOR IMMEDIATE RELEASE

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Broward Financial Centre 500 E. Broward Blvd., Suite 2100 Fort Lauderdale, FL 33394-3091

For more information, please contact Franklin Templeton Investments at 1-800-342-5236.

TEMPLETON RELEASES CLOSED-END FUNDS' PORTFOLIO ALLOCATION UPDATES Fort Lauderdale, Florida, March 20, 2008. 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 February 29, 2008: • • • • 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 Funds’ investment managers 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 60 years of investment experience and over $600 billion in assets under management as of February 29, 2008. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.

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TEMPLETON EMERGING MARKETS FUND AS OF FEBRUARY 29, 2008 TOTAL NET ASSETS: $431,348,618 NET ASSET VALUE PER SHARE: $23.87
PERCENT OF TOTAL NET ASSETS 0.4% 99.6% 100.0% PERCENT OF TOTAL NET ASSETS 7.6% 6.6% 4.6% 4.1% 3.4% 3.0% 2.9% 2.7% 2.7% 2.6% 40.2% PERCENT OF PORTFOLIO NET ASSETS 7.0% 3.1% 2.2% 1.7% 7.0% 1.8% 1.7% 3.4% 37.4% 15.8% 13.6% 1.4% 0.7% 3.1% 2.7% 0.4% 2.4% 2.4% 20.4% 6.3% 0.7% 100.0%

ASSET ALLOCATION CASH & OTHER EQUITY*

TEN LARGEST POSITIONS PETROLEO BRASILEIRO SA (PETROBRAS) COMPANHIA VALE DO RIO DOCE ALUMINUM CORP OF CHINA LTD PETROCHINA CO LTD AKBANK TAS BANCO BRADESCO SA MINING AND METALLURGICAL CO NORILSK NICKEL SESA GOA LTD GAZPROM CNOOC LTD

INTERNATIONAL ALLOCATION ASIA CHINA HONG KONG INDIA INDONESIA PAKISTAN SOUTH KOREA TAIWAN THAILAND TURKEY EUROPE AUSTRIA HUNGARY POLAND RUSSIA SWEDEN LATIN AMERICA BRAZIL MEXICO TOTAL EQUITY*

PERCENT OF PORTFOLIO NET ASSETS 58.9% 16.1% 3.0% 7.0% 2.2% 2.1% 7.9% 3.9% 8.4% 8.2% 17.2% 1.5% 1.8% 2.7% 9.8% 1.4% 23.9% 21.4% 2.5% 100.0%

INDUSTRY ALLOCATION CONSUMER DISCRETIONARY AUTOMOBILES & COMPONENTS CONSUMER DURABLES & APPAREL CONSUMER SERVICES CONSUMER STAPLES FOOD & STAPLES RETAILING FOOD BEVERAGE & TOBACCO HOUSEHOLD & PERSONAL PRODUCTS ENERGY FINANCIALS BANKS DIVERSIFIED FINANCIALS REAL ESTATE INDUSTRIALS CAPITAL GOODS TRANSPORTATION INFORMATION TECHNOLOGY SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT MATERIALS TELECOMMUNICATION SERVICES UTILITIES TOTAL EQUITY*

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 and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy. The Fund's portfolio is actively managed and investment allocations can be expected to change. * EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

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TEMPLETON EMERGING MARKETS INCOME FUND AS OF FEBRUARY 29, 2008 TOTAL NET ASSETS: $717,299,956 NET ASSET VALUE PER SHARE: $15.15
PERCENT OF TOTAL NET ASSETS 7.2% 92.8% 100.0%

ASSET ALLOCATION CASH & OTHER FIXED INCOME

PORTFOLIO CHARACTERISTICS WEIGHTED AVG. CREDIT QUALITY WEIGHTED AVG. MATURITY WEIGHTED AVG. DURATION WEIGHTED AVG. COUPON

BBB9.50 yrs. 5.46 yrs. 7.750%

NET CURRENCY DISTRIBUTION ASIA INDO RUPIAH MALAYSI RINGGIT EUROPE EURO MON UNIT POLAND ZLOTY LATIN AMERICA BRAZILIAN REAL MEXICAN PESO MID-EAST/AFRICA EGYPTIAN POUND NORTH AMERICA US DOLLAR TOTAL

PERCENT OF TOTAL NET ASSETS 12.4% 11.6% 0.8% 4.6% 1.7% 2.9% 12.9% 12.8% 0.2% 1.9% 1.9% 68.1% 68.1% 100.0%

COUNTRY DISTRIBUTION ASIA FIJI INDIA INDONESIA MALAYSIA PAKISTAN PHILIPPINES VIETNAM EUROPE BOSNIA AND HERZEGOVINA EURO COMMUNITY GERMANY KAZAKHSTAN NETHERLANDS POLAND RUSSIA UKRAINE LATIN AMERICA ARGENTINA BRAZIL COLOMBIA EL SALVADOR MEXICO PANAMA PERU MID-EAST/AFRICA EGYPT GHANA IRAQ SOUTH AFRICA OTHER SUPRANATIONAL NORTH AMERICA UNITED STATES TOTAL

PERCENT OF TOTAL NET ASSETS 20.8% 1.1% 1.3% 11.6% 0.8% 1.8% 4.1% 0.1% 17.1% 1.8% -0.5% 2.1% 0.3% 2.1% 2.9% 4.9% 3.4% 29.8% 9.8% 19.7% 0.9% 0.4% -6.4% 0.9% 4.6% 7.7% 1.9% 0.8% 4.7% 0.4% 4.5% 4.5% 20.1% 20.1% 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 and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy. The Fund's portfolio is actively managed and investment allocations can be expected to change.

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TEMPLETON GLOBAL INCOME FUND AS OF FEBRUARY 29, 2008 TOTAL NET ASSETS: $1,222,361,518 NET ASSET VALUE PER SHARE: $9.34 PERCENT OF TOTAL NET ASSETS 9.1% 90.9% 100.0%

ASSET ALLOCATION CASH & OTHER FIXED INCOME

PORTFOLIO CHARACTERISTICS WEIGHTED AVG. CREDIT QUALITY WEIGHTED AVG. MATURITY WEIGHTED AVG. DURATION WEIGHTED AVG. COUPON

A+ 5.00 yrs. 3.98 yrs. 5.355% PERCENT OF TOTAL NET ASSETS 50.8% 3.9% 6.0% 25.3% 12.0% 0.1% 1.7% 1.7% 1.1% 3.2% -2.1% 12.6% 4.8% 1.3% -32.7% 3.0% 5.2% 4.7% 6.9% 3.1% -4.0% 12.5% 7.9% 13.8% 2.3% 7.3% 2.3% -1.3% 3.3% 5.9% 4.7% 1.2% 8.2% 3.8% 4.4% 7.7% 7.7% 100.0%

NET CURRENCY DISTRIBUTION ASIA INDIAN RUPEE INDO RUPIAH JAPANESE YEN MALAYSI RINGGIT SOUTH KOREA WON SINGAPORE DOLLAR AUSTRALIA/NEW ZEALAND AUSTRALIAN DLR N ZEAL DOLLAR EUROPE CZECH KORUNA EURO MON UNIT KAZAKHSTAN TENGE NORWEGIAN KRONE POLAND ZLOTY ROMANIA LEU-NEW SWEDISH KRONA SWISS FRANC LATIN AMERICA BRAZILIAN REAL CHILEAN PESO PERU NUEVO SOL MID-EAST/AFRICA EGYPTIAN POUND NORTH AMERICA CANADIAN DOLLAR US DOLLAR TOTAL

PERCENT OF TOTAL NET ASSETS 58.0% 3.9% 6.0% 32.6% 12.0% 1.7% 1.7% 2.8% 3.2% -0.3% 11.8% 1.3% -29.6% 4.7% 6.9% 7.4% -4.0% 12.5% 12.7% 12.9% 7.3% 2.3% 3.3% 4.7% 4.7% 9.7% 2.4% 7.4% 100.0%

COUNTRY DISTRIBUTION ASIA INDIA INDONESIA JAPAN MALAYSIA PHILIPPINES SINGAPORE SOUTH KOREA AUSTRALIA/NEW ZEALAND AUSTRALIA NEW ZEALAND EUROPE AUSTRIA CZECH REPUBLIC EURO COMMUNITY FRANCE GERMANY KAZAKHSTAN NORWAY POLAND ROMANIA SWEDEN SWITZERLAND LATIN AMERICA ARGENTINA BRAZIL CHILE MEXICO PERU MID-EAST/AFRICA EGYPT IRAQ NORTH AMERICA CANADA UNITED STATES OTHER SUPRANATIONAL TOTAL

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 and comes from sources considered reliable, but the Fund makes no representation or warranty as to its completeness or accuracy. The Fund's portfolio is actively managed and investment allocations can be expected to change.