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Templeton Releases Closed-End Funds' Portfolio Allocation Updates

Posted on: Friday, 18 July 2008, 12:01 CDT

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 June 30, 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 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), 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 $580 billion in assets under management as of June 30, 2008. For more information, please call 1-800/DIAL BEN(R) or visit franklintempleton.com.

TEMPLETON DRAGON FUND, INC. AS OF JUNE 30, 2008 TOTAL NET ASSETS: $1,088,807,586 NET ASSET VALUE PER SHARE: $28.75 PERCENT OF PERCENT OF TOTAL NET TOTAL NET ASSET ALLOCATION ASSETS TEN LARGEST POSITIONS ASSETS -------------------------- ------------------------------------------ CASH & OTHER DAIRY FARM INTERNATIONAL 2.3% HOLDINGS LTD 14.7% EQUITY(a) 97.7% CHINA MOBILE LTD 10.3% CHINA PETROLEUM & CHEMICAL CORP 100.0% (SINOPEC) 8.4% PETROCHINA CO LTD 6.9% CNOOC LTD 6.0% CHINA CONSTRUCTION BANK 4.8% CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD 4.3% ASUSTEK COMPUTER INC 3.3% TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 3.2% BANK OF CHINA LTD 2.3% 64.2%

PERCENT OF PERCENT OF TOTAL NET TOTAL NET INTERNATIONAL ALLOCATION ASSETS INDUSTRY ALLOCATION ASSETS ------------------------ ---------- ---------------------- ----------- ASIA 100.0% CONSUMER DISCRETIONARY 6.3% CAMBODIA AUTOMOBILES & 0.4% COMPONENTS 3.1% CHINA CONSUMER DURABLES & 57.0% APPAREL 0.6% HONG KONG 28.6% CONSUMER SERVICES 0.4% SINGAPORE 0.2% MEDIA 0.2% TAIWAN 13.7% RETAILING 2.0% TOTAL NET ASSETS 100.0% CONSUMER STAPLES 16.1% FOOD & STAPLES RETAILING 15.1% FOOD BEVERAGE & TOBACCO 1.0% ENERGY 25.6% FINANCIALS 13.2% BANKS 9.2% INSURANCE 0.2% REAL ESTATE 3.8% HEALTH CARE 0.1% PHARMACEUTICALS BIOTECHNOLOGY & LIFE SCIENCES 0.1% INDUSTRIALS 7.0% CAPITAL GOODS 6.1% TRANSPORTATION 0.9% INFORMATION TECHNOLOGY 11.8% SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 4.9% SOFTWARE & SERVICES 0.3% TECHNOLOGY HARDWARE & EQUIPMENT 6.5% MATERIALS 0.2% TELECOMMUNICATION SERVICES 12.9% UTILITIES 6.8% 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(R) (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.

(a) Equity includes convertible and preferred securities.

TEMPLETON GLOBAL INCOME FUND AS OF JUNE 30, 2008 TOTAL NET ASSETS: $1,146,189,931 NET ASSET VALUE PER SHARE: $8.75 PERCENT OF TOTAL NET ASSET ALLOCATION ASSETS PORTFOLIO CHARACTERISTICS --------------------------- ------------------------------------------ CASH & OTHER 16.5% WEIGHTED AVG. CREDIT QUALITY A+ FIXED INCOME 83.5% WEIGHTED AVG. MATURITY 6.11 yrs. 100.0% WEIGHTED AVG. DURATION 3.78 yrs. WEIGHTED AVG. COUPON 5.403%

PERCENT OF PERCENT OF TOTAL NET TOTAL NET NET CURRENCY DISTRIBUTION ASSETS COUNTRY DISTRIBUTION ASSETS -------------------------- ---------- --------------------- ---------- ASIA 70.5% ASIA 63.2% INDIAN RUPEE 3.7% INDIA 3.7% INDO RUPIAH 5.8% INDONESIA 5.8% JAPANESE YEN 38.5% JAPAN 31.1% MALAYSI RINGGIT 14.1% MALAYSIA 14.1% SOUTH KOREA WON -0.2% PHILIPPINES 0.1% SINGAPORE DOLLAR 8.6% SINGAPORE 8.6% AUSTRALIA/NEW ZEALAND 3.2% SOUTH KOREA -0.2% AUSTRALIAN DOLLAR 3.5% AUSTRALIA/NEW ZEALAND 1.4% N ZEAL DOLLAR -0.3% AUSTRALIA 3.5% EUROPE -19.4% NEW ZEALAND -2.1% BRITISH POUND -2.6% EUROPE -21.2% CZECH KORUNA 1.6% AUSTRIA 5.0% EURO -62.9% CZECH REPUBLIC 1.6% KAZAKHSTAN TENGE 4.7% EURO COMMUNITY -66.1% NORWEGIAN KRONE 3.4% FRANCE 3.1% POLAND ZLOTY 8.5% GERMANY 5.2% ROMANIA LEU-NEW -4.7% KAZAKHSTAN 4.7% RUSSIAN RUBLE 3.9% NORWAY 1.5% SWEDISH KRONA 13.6% POLAND 3.4% SWISS FRANC 15.1% ROMANIA -4.7% LATIN AMERICA 12.3% RUSSIA 3.9% BRAZILIAN REAL 7.6% SWEDEN 13.6% CHILEAN PESO 1.9% SWITZERLAND 10.1% MEXICAN PESO -0.5% UNITED KINGDOM -2.6% PERU NUEVO SOL 3.3% LATIN AMERICA 13.3% MID-EAST/AFRICA 5.4% ARGENTINA 2.3% EGYPTIAN POUND 5.4% BRAZIL 7.6% NORTH AMERICA 28.0% CHILE 1.9% US DOLLAR 28.0% MEXICO -1.8% TOTAL 100.0% PERU 3.3% MID-EAST/AFRICA 5.4% EGYPT 5.4% NORTH AMERICA 27.1% CANADA 1.5% UNITED STATES 25.6% OTHER 10.7% SUPRANATIONAL 10.7% 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(R) (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.

TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC. AS OF JUNE 30, 2008 TOTAL NET ASSETS: $341,971,870 NET ASSET VALUE PER SHARE: $62.21 PERCENT PERCENT OF OF TOTAL NET TOTAL NET ASSET ALLOCATION ASSETS TEN LARGEST POSITIONS ASSETS ----------------- ------------ ---------------------------- ---------- CASH & OTHER 14.8% SBERBANK RF 13.2% EQUITY(a) 85.2% LUKOIL HOLDINGS 12.2% MINING AND METALLURGICAL CO 100.0% NORILSK NICKEL 11.7% CHEREPOVETS MK SEVERSTAL 9.9% VOLGATELECOM 6.2% GAZPROM OAO 5.8% EGIS NYRT 3.9% SIBIRTELECOM 3.9% OAO TMK 3.4% SOUTHERN TELECOMMUNCATIONS COMPANY 2.8% 73.0%

PERCENT OF PERCENT OF TOTAL NET TOTAL NET INTERNATIONAL ALLOCATION ASSETS INDUSTRY ALLOCATION ASSETS ------------------------- ------------ ------------------- ---------- EUROPE 100.0% CONSUMER STAPLES 3.3% AUSTRIA FOOD BEVERAGE & 2.6% TOBACCO 3.3% HUNGARY 4.6% ENERGY 28.7% KAZAKHSTAN 0.3% FINANCIALS 16.6% LUXEMBOURG 2.1% BANKS 15.4% NETHERLANDS DIVERSIFIED 0.9% FINANCIALS 0.3% RUSSIA 88.6% REAL ESTATE 0.9% UKRAINE 0.9% HEALTH CARE 5.7% TOTAL EQUITY(a) PHARMACEUTICALS BIOTECHNOLOGY & 100.0% LIFE SCIENCES 5.7% MATERIALS 27.1% TELECOMMUNICATION SERVICES 18.4% UTILITIES 0.1% TOTAL EQUITY(a) 100.0%

You may request a copy of the Fund's current Report to Shareholders by contacting Fund Information at 1-800-DIAL BEN(R) (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.

(a) Equity includes convertible and preferred securities.

Source: Business Wire

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