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Templeton Russia and East European Fund, Inc. ("TRF") Announces Shareholder Approval of Liquidation and Dissolution of the Fund

FORT LAUDERDALE, FL--(Marketwired - Oct 29, 2015) - The Templeton Russia and East European Fund, Inc. (NYSE: TRF) (the "Fund"), which trades on the New York Stock Exchange, announced that shareholders approved the liquidation and dissolution of the Fund at the Annual Meeting of Shareholders held today.

Based on the recommendation of the investment adviser and on other factors, including small size and declining shareholder interest in the Fund, the Board of Directors of the Fund had determined that the liquidation of the Fund is in the best interests of the Fund and its shareholders and convened the shareholder vote.

In accordance with the approved Plan of Liquidation and Dissolution, the Fund's investment manager, Templeton Asset Management Ltd., will commence an orderly liquidation of the Fund's assets.

The Fund will close its share register books at the close of business on November 20, 2015 (the "Effective Date") and the trading of the Fund's stock on the New York Stock Exchange will be suspended before the market open on November 23, 2015. The proportionate interests of shareholders in the assets of the Fund shall be fixed on the basis of their respective holdings as of the close of business on the Effective Date, and the Fund expects to make a final liquidating distribution to shareholders as of the Effective Date on or about December 16, 2015.

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 to retail, institutional and sovereign wealth clients in over 150 countries. Through specialized teams, the company has expertise across all asset classes -- including equity, fixed income, alternative and custom solutions. The company's more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $770 billion in assets under management as of September 30, 2015. For more information, please visit franklintempleton.com.