Templeton Releases Closed-End Funds' Portfolio Allocation Updates

• Press Release
• Source: Franklin Templeton
• On 10:48 am EDT, Wednesday October 21, 2009

FORT LAUDERDALE, FL--(Marketwire - 10/21/09) - 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 September 30, 2009:

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--  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:

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     Templeton Dragon Fund, Inc. (NYSE: TDF)
     Templeton Global Income Fund (NYSE: GIM)
     Templeton Russia and East European Fund, Inc. (NYSE: TRF)

The Funds' investment managers are subsidiaries of Franklin Resources, Inc. (NYSE:BEN - News), 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 $523 billion in assets under management as of September 30, 2009. For more information, please call 1-800/DIAL BEN� or visit franklintempleton.com.

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                    TEMPLETON DRAGON FUND, INC.
                     AS OF SEPTEMBER 30, 2009
                  TOTAL NET ASSETS: $1,010,388,894
                  NET ASSET VALUE PER SHARE: $26.68

                        PERCENT OF                              PERCENT OF
                        TOTAL NET                               TOTAL NET
ASSET ALLOCATION          ASSETS     TEN LARGEST POSITIONS        ASSETS
----------------------------------   -------------------------------------
CASH & OTHER                   0.8%  DAIRY FARM INTERNATIONAL
EQUITY*                       99.2%   HOLDINGS LTD                    17.8%
                        ----------   CHINA PETROLEUM &
                             100.0%   CHEMICAL CORP (SINOPEC)          8.2%
                                     CHINA MOBILE LTD                  6.1%
                                     PETROCHINA CO LTD                 5.9%
                                     CNOOC LTD                         5.2%
                                     CHINA CONSTRUCTION BANK           3.5%
                                     TAIWAN SEMICONDUCTOR
                                      MANUFACTURING CO LTD             3.3%
                                     CHINA SHENHUA ENERGY CO LTD       3.2%
                                     SHANGHAI INDUSTRIAL HOLDINGS LTD  2.9%
                                     CHEUNG KONG INFRASTRUCTURE
                                      HOLDINGS LTD                     2.8%
                                                                ----------
                                                                      58.8%

                        PERCENT OF                              PERCENT OF
INTERNATIONAL           TOTAL NET                               TOTAL NET
ALLOCATION                ASSETS     INDUSTRY ALLOCATION          ASSETS
----------------------------------   -------------------------------------
ASIA                          99.9%  CONSUMER DISCRETIONARY            9.2%
  CAMBODIA                     0.2%     AUTOMOBILES & COMPONENTS       5.7%
  CHINA                       60.2%     CONSUMER DURABLES & APPAREL    0.6%
  HONG KONG                   27.8%     CONSUMER SERVICES              0.2%
  SINGAPORE                    0.1%     MEDIA                          0.1%
  TAIWAN                      11.6%     RETAILING                      2.6%
NORTH AMERICA                  0.1%  CONSUMER STAPLES                 20.6%
  UNITED STATES                0.1%     FOOD & STAPLES RETAILING      18.1%
                        ----------      FOOD BEVERAGE & TOBACCO        2.5%
TOTAL EQUITY*                100.0%  ENERGY                           24.6%
                                     FINANCIALS                       15.2%
                                        BANKS                          8.9%
                                        INSURANCE                      2.2%
                                        REAL ESTATE                    4.1%
                                     HEALTH CARE                       0.1%
                                        PHARMACEUTICALS, BIOTECHNOLOGY
                                         & LIFE SCIENCES               0.1%
                                     INDUSTRIALS                       6.3%
                                        CAPITAL GOODS                  4.7%
                                        TRANSPORTATION                 1.6%
                                     INFORMATION TECHNOLOGY           10.8%
                                        SEMICONDUCTORS & SEMICONDUCTOR
                                         EQUIPMENT                     4.4%
                                        SOFTWARE & SERVICES            1.8%
                                        TECHNOLOGY HARDWARE &
                                         EQUIPMENT                     4.6%
                                     MATERIALS                         0.5%
                                     TELECOMMUNICATION SERVICES        7.4%
                                     UTILITIES                         5.3%
                                                                ----------
                                     TOTAL NET ASSETS                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 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 GLOBAL INCOME FUND
                          AS OF SEPTEMBER 30, 2009
                      TOTAL NET ASSETS: $1,200,438,940
                      NET ASSET VALUE PER SHARE: $9.15

                       PERCENT OF
                       TOTAL NET
ASSET ALLOCATION         ASSETS      PORTFOLIO CHARACTERISTICS
---------------------------------    -------------------------------------
CASH & OTHER                  2.7%   WEIGHTED AVG. CREDIT QUALITY        A
FIXED INCOME                 97.3%   WEIGHTED AVG. MATURITY       8.61 yrs.
                       ----------    WEIGHTED AVG. DURATION      6.097 yrs.
                            100.0%   WEIGHTED AVG. COUPON            6.840%

                       PERCENT OF                              PERCENT OF
NET CURRENCY           TOTAL NET                               TOTAL NET
DISTRIBUTION             ASSETS      COUNTRY DISTRIBUTION        ASSETS
---------------------------------    -------------------------------------
ASIA                         28.5%   ASIA                             29.4%
   CHINESE YUAN               7.0%      INDONESIA                     10.5%
   INDIAN RUPEE               4.8%      MALAYSIA                       0.6%
   INDO RUPIAH                9.4%      PHILIPPINES                    0.1%
   JAPANESE YEN              -9.6%      SOUTH KOREA                   16.1%
   MALAYSI RINGGIT           14.8%      SRI LANKA                      2.1%
   SOUTH KOREA WON           13.7%   AUSTRALIA/NEW ZEALAND             8.8%
   SINGAPORE DOLLAR         -13.9%      AUSTRALIA                      7.6%
   SRI LANKA RUPEE            2.1%      NEW ZEALAND                    1.2%
   VIETNAM DONG               0.2%   EUROPE                           23.8%
AUSTRALIA/NEW ZEALAND        -6.5%      FRANCE                         3.1%
   AUSTRALIAN DOLLAR          5.4%      HUNGARY                        2.5%
   NEW ZEALAND DOLLAR       -11.9%      POLAND                         9.1%
EUROPE                        9.5%      RUSSIA                         4.7%
   EURO                     -14.4%      SWEDEN                         4.4%
   KAZAKHSTAN TENGE           0.4%   LATIN AMERICA                    20.7%
   NORWEGIAN KRONE            3.6%      ARGENTINA                      2.5%
   POLAND ZLOTY               8.3%      BRAZIL                         7.8%
   RUSSIAN RUBLE              0.1%      MEXICO                         4.7%
   SWEDISH KRONA             11.2%      PERU                           3.6%
   SWISS FRANC                0.3%      VENEZUELA                      2.2%
LATIN AMERICA                19.0%   MID-EAST/AFRICA                   4.8%
   BRAZILIAN REAL             9.0%      QATAR                          1.0%
   CHILEAN PESO               5.1%      SOUTH AFRICA                   2.8%
   MEXICAN PESO               1.3%      UNITED ARAB EMIRATES           1.0%
   PERU NUEVO SOL             3.6%   NORTH AMERICA                     5.6%
MID-EAST/AFRICA               1.6%      CANADA                         1.4%
   ISRAELI SHEKEL             1.6%      UNITED STATES                  4.2%
NORTH AMERICA                47.8%   OTHER                             7.0%
   US DOLLAR                 47.8%      SUPRANATIONAL                  4.5%
                       ----------       CASH                           3.8%
TOTAL                       100.0%      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.

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               TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
                        AS OF SEPTEMBER 30, 2009
                      TOTAL NET ASSETS: $90,371,910
                    NET ASSET VALUE PER SHARE: $15.73

                      PERCENT OF                                PERCENT OF
                      TOTAL NET                                 TOTAL NET
ASSET ALLOCATION        ASSETS          TEN LARGEST POSITIONS     ASSETS
--------------------------------        ----------------------------------
CASH & OTHER                 6.4%       CHEREPOVETS MK SEVERSTAL       9.3%
EQUITY*                     93.6%       MOBILE TELESYSTEMS OJSC        8.4%
                      ----------        MECHEL OAO                     7.6%
                           100.0%       SBERBANK RF                    7.6%
                                        VIMPEL COMMUNICATIONS          6.4%
                                        GAZPROM OAO                    5.5%
                                        KERNEL HOLDING SA              5.2%
                                        VEROPHARM                      5.1%
                                        OAO TMK                        4.7%
                                        CTC MEDIA INC                  4.2%
                                                                ----------
                                                                      64.1%



                          PERCENT OF                            PERCENT OF
INTERNATIONAL             TOTAL NET                             TOTAL NET
ALLOCATION                  ASSETS      INDUSTRY ALLOCATION       ASSETS
------------------------------------    ----------------------------------
EUROPE                          95.5%   CONSUMER DISCRETIONARY         4.5%
   HUNGARY                       4.3%      MEDIA                       4.5%
   KAZAKHSTAN                    0.1%   CONSUMER STAPLES              12.5%
   LUXEMBOURG                    5.5%      FOOD BEVERAGE & TOBACCO    12.5%
   RUSSIA                       82.8%   ENERGY                        18.1%
   UKRAINE                       2.8%   FINANCIALS                     8.1%
NORTH AMERICA                    4.5%      BANKS                       8.1%
   UNITED STATES                 4.5%   HEALTH CARE                    9.8%
                          ----------       PHARMACEUTICALS,
TOTAL EQUITY*                  100.0%       BIOTECHNOLOGY & LIFE
                                            SCIENCES                   9.8%
                                        INDUSTRIALS                    4.4%
                                           TRANSPORTATION              4.4%
                                        MATERIALS                     21.3%
                                        TELECOMMUNICATION SERVICES    20.5%
                                        UTILITIES                      0.6%
                                                                ----------
                                        TOTAL EQUITY*                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 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.

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