December 15, 2011 at 11:07 AM EST
Templeton Releases Closed-End Funds' Portfolio Allocation Updates and Announces Change to Certain Investment Strategies

FORT LAUDERDALE, FL -- (Marketwire) -- 12/15/11 -- 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 November 30, 2011:

  • Asset Allocation
  • Portfolio Characteristics
  • Net Currency Distribution
  • 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 Income Fund (NYSE: TEI)
Templeton Global Income Fund (NYSE: GIM)

At recent meetings of the Boards of Trustees, each Fund was authorized to increase use of currency forward contracts for hedging and investment purposes when the investment manager believes it is advisable to do so. Currency forwards are used to manage and implement various currency exposures. A forward contract is an obligation to purchase or sell a specific foreign currency at an agreed exchange rate (price) at a future date, which is individually negotiated and privately traded by currency traders and their customers in the interbank market. Through the use of currency derivatives, a Fund can hedge or decrease its exposure to one currency (which may include establishing or increasing a short position), while increasing exposure to another currency.

Investing in derivative instruments, including currency forward contracts, involves risk. The performance of derivative instruments (including currency related derivatives) depends largely on the performance of an underlying currency, security or index and such instruments often have risks similar to their underlying instrument, in addition to other risks. Derivatives involve costs and can create economic leverage in the portfolio which may result in significant volatility and cause a Fund to participate in losses (as well as enable gains) on an amount that exceeds the Fund's initial investment. Other risks include illiquidity in the Fund, mispricing or improper valuation, and imperfect correlation between the value of the derivative and the underlying instrument so that the Fund may not realize the intended benefits. When used for hedging, the change in value of the derivative may also not correlate specifically with the currency, security or other risk being hedged. The Funds are actively managed but there is no guarantee that the investment manager's investment decisions will produce the desired results.

The Funds' investment goals, as well as their other investment policies, restrictions and tax diversification requirements, remain the same as previously disclosed for each Fund.

The Funds' investment manager, 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 over $675 billion in assets under management as of November 30, 2011. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

                   TEMPLETON EMERGING MARKETS INCOME FUND
                           AS OF NOVEMBER 30, 2011
                       TOTAL NET ASSETS: $734,326,809
                      NET ASSET VALUE PER SHARE: $15.44

                           PERCENT OF
                            TOTAL NET
ASSET ALLOCATION             ASSETS   PORTFOLIO CHARACTERISTICS
------------------------------------- --------------------------------------
CASH & OTHER                     2.4% WEIGHTED AVG. MATURITY     8.7449 yrs.
FIXED INCOME                    97.6% WEIGHTED AVG. DURATION     5.1794 yrs.
                           ----------
                               100.0% WEIGHTED AVG. COUPON       7.9290%

                           PERCENT OF                             PERCENT OF
                            TOTAL NET                             TOTAL NET
NET CURRENCY DISTRIBUTION    ASSETS   COUNTRY DISTRIBUTION          ASSETS
------------------------------------- --------------------------------------
ASIA                             2.2% ASIA                             16.5%
  INDO RUPIAH                    9.7%   INDIA                           0.5%
  JAPANESE YEN                 -11.5%   INDONESIA                       9.7%
  MALAYSI RINGGIT                0.7%   SRI LANKA                       2.9%
  SOUTH KOREAN WON               0.9%   TURKEY                          2.4%
  SRI LANKA RUPEE                2.4%   VIETNAM                         1.0%
------------------------------------- --------------------------------------
EUROPE                           2.6% EUROPE                           31.3%
  EURO MON UNIT                 -1.5%   BOSNIA AND HERZEGOVINA          0.8%
  POLAND ZLOTY                   0.7%   CROATIA                         1.0%
  UKRAINE HRYVNIA                3.4%   CYPRUS                          0.2%
LATIN AMERICA                   13.9%   GEORGIA                         0.4%
  BRAZILIAN REAL                 9.3%   HUNGARY                         2.3%
  MEXICAN PESO                   4.6%   KAZAKHSTAN                      7.6%
MID-EAST/AFRICA                  3.0%   LITHUANIA                       1.6%
  GHANA CEDI NEW                 3.0%   ROMANIA                         1.0%
NORTH AMERICA                   78.3%   RUSSIA                          6.4%
  US DOLLAR                     78.3%   REPUBLIC OF SERBIA              1.0%
TOTAL                          100.0%   UKRAINE                         8.9%
                                      LATIN AMERICA                    31.6%
                                        ARGENTINA                       8.9%
                                        BRAZIL                         10.0%
                                        COLOMBIA                        0.9%
                                        EL SALVADOR                     0.4%
                                        MEXICO                          5.3%
                                        PANAMA                          0.6%
                                        PERU                            2.9%
                                        TRINIDAD AND TOBAGO             0.8%
                                        VENEZUELA                       1.8%
                                      MID-EAST/AFRICA                  15.4%
                                        GHANA                           4.9%
                                        IRAQ                            5.0%
                                        SOUTH AFRICA                    2.3%
                                        UNITED ARAB EMIRATES            3.3%
                                      OTHER                             3.6%
                                        SUPRANATIONAL                   1.3%
                                        CASH                            3.0%
                                        DERIVATIVES                    -0.7%
                                      NORTH AMERICA                     1.6%
                                        UNITED STATES                   1.6%
                                      TOTAL                           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 weightings do not include the impact of currency forwards within the country weightings. The Fund's portfolio is actively managed and investment allocations can be expected to change.

                        TEMPLETON GLOBAL INCOME FUND
                           AS OF NOVEMBER 30, 2011
                      TOTAL NET ASSETS: $1,228,163,921
                      NET ASSET VALUE PER SHARE: $9.29

                           PERCENT OF
                            TOTAL NET
ASSET ALLOCATION             ASSETS   PORTFOLIO CHARACTERISTICS
----------------------------------------------------------------------------
CASH & OTHER                     5.4% WEIGHTED AVG. MATURITY     4.7937 yrs.
FIXED INCOME                    94.6% WEIGHTED AVG. DURATION     2.9554 yrs.
                           ----------
                               100.0% WEIGHTED AVG. COUPON       5.6356%

                           PERCENT OF                             PERCENT OF
                            TOTAL NET                             TOTAL NET
NET CURRENCY DISTRIBUTION    ASSETS   COUNTRY DISTRIBUTION          ASSETS
------------------------------------- --------------------------------------
ASIA                            28.4% ASIA                             34.6%
  INDIAN RUPEE                   3.8%   INDONESIA                       9.4%
  INDO RUPIAH                    7.9%   MALAYSIA                        4.7%
  JAPANESE YEN                 -25.4%   PHILIPPINES                     0.2%
  MALAYSI RINGGIT               13.7%   SINGAPORE                       2.1%
  PHILIPPINE PESO                5.7%   SOUTH KOREA                    15.0%
  SOUTH KOREAN WON              16.1%   SRI LANKA                       2.6%
  SINGAPORE DOLLAR               4.1%   VIETNAM                         0.8%
  SRI LANKA RUPEE                2.6% AUSTRALIA/NEW ZEALAND             9.3%
AUSTRALIA/NEW ZEALAND           13.3%   AUSTRALIA                       9.3%
  AUSTRALIAN DOLLAR             13.3% EUROPE                           25.7%
EUROPE                           0.7%   HUNGARY                         3.4%
  BRITISH POUND                  6.7%   IRELAND                         1.9%
  EURO MON UNIT                -37.2%   LITHUANIA                       2.2%
  HUNGARY FORINT                 0.9%   NORWAY                          1.4%
  NORWEGIAN KRONE                8.5%   POLAND                         10.1%
  POLAND ZLOTY                   9.3%   RUSSIA                          0.6%
  SWEDISH KRONA                 12.6%   SWEDEN                          4.7%
LATIN AMERICA                   25.3%   UNITED KINGDOM                  1.5%
  BRAZILIAN REAL                 8.7% LATIN AMERICA                    17.9%
  CHILEAN PESO                   7.1%   ARGENTINA                       1.0%
  MEXICAN PESO                   6.0%   BRAZIL                          8.7%
  PERU NUEVO SOL                 3.5%   MEXICO                          4.2%
MID-EAST/AFRICA                  5.5%   PERU                            3.5%
  EGYPTIAN POUND                 0.2%   VENEZUELA                       0.5%
  ISRAELI SHEKEL                 5.3% MID-EAST/AFRICA                   4.8%
NORTH AMERICA                   26.7%   EGYPT                           0.2%
  US DOLLAR                     26.7%   ISRAEL                          2.8%
TOTAL                          100.0%   SOUTH AFRICA                    1.8%
                                      NORTH AMERICA                     1.7%
                                        UNITED STATES                   1.7%
                                      OTHER                             6.1%
                                        SUPRANATIONAL                   3.6%
                                        CASH                            3.7%
                                        DERIVATIVES                    -1.2%
                                      TOTAL                           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 weightings do not include the impact of currency forwards within the country weightings. The Fund's portfolio is actively managed and investment allocations can be expected to change.

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

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