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Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL -- (Marketwired) -- 04/17/14 -- 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 March 31, 2014:

  • 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, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over $886 billion in assets under management as of March 31, 2014. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

This press release contains statistical data regarding the Funds' portfolios. The Funds' complete portfolio holdings are publicly available on a quarterly basis on Form N-Q, as well as in the Funds' Annual and Semi-Annual Reports to Shareholders filed with the U.S. Securities and Exchange Commission. These documents may be found at sec.gov. For portfolio management discussions, including information regarding the Funds' investment strategies, please view the most recent Annual or Semi-Annual Report to Shareholders which can be found at franklintempleton.com or sec.gov.


                         TEMPLETON DRAGON FUND, INC.
                            AS OF MARCH 31, 2014
                       TOTAL NET ASSETS: $984,504,452
                      NET ASSET VALUE PER SHARE: $27.64
                       OUTSTANDING SHARES: 35,600,216

                PERCENT OF                                       PERCENT OF
ASSET            TOTAL NET                                       TOTAL NET
ALLOCATION        ASSETS    TEN LARGEST POSITIONS                  ASSETS
--------------------------  ------------------------------------------------
CASH & OTHER          3.8%  DAIRY FARM INTERNATIONAL HOLDINGS
                            LTD                                        15.3%
EQUITY*              96.2%  CHINA PETROLEUM & CHEMICAL CORP
                            (SINOPEC)                                  10.4%
                ----------
                            TAIWAN SEMICONDUCTOR MANUFACTURING
                    100.0%  CO LTD                                      6.2%
                            PETROCHINA CO LTD                           5.4%
                            CNOOC LTD                                   4.7%
                            CHINA MOBILE LTD                            3.8%
                            CHINA CONSTRUCTION BANK                     3.4%
                            GREAT WALL MOTOR COMPANY LTD                2.6%
                            CHEUNG KONG INFRASTRUCTURE
                            HOLDINGS LTD                                2.4%
                            BANK OF CHINA LTD                           2.3%
                                                               -------------
                                                                       56.5%

                  PERCENT OF                                     PERCENT OF
INTERNATIONAL     TOTAL NET                                      TOTAL NET
ALLOCATION          ASSETS     INDUSTRY ALLOCATION                 ASSETS
-----------------------------  ---------------------------------------------
ASIA                   100.0%  CONSUMER DISCRETIONARY                  11.9%
-----------------------------  ---------------------------------------------
  CHINA                 64.2%    AUTOMOBILES & COMPONENTS               8.4%
  HONG KONG             23.8%    CONSUMER DURABLES & APPAREL            1.3%
  TAIWAN                11.9%    CONSUMER SERVICES                      0.6%
-----------------------------
TOTAL EQUITY*          100.0%    MEDIA                                  0.2%
-----------------------------
                                 RETAILING                              1.4%
                               ---------------------------------------------
                               CONSUMER STAPLES                        19.6%
                               ---------------------------------------------
                                 FOOD & STAPLES RETAILING              18.0%
                                 FOOD BEVERAGE & TOBACCO                1.6%
                               ---------------------------------------------
                               ENERGY                                  24.5%
                               ---------------------------------------------
                               FINANCIALS                              11.7%
                               ---------------------------------------------
                                 BANKS                                  8.9%
                                 INSURANCE                              0.8%
                                 REAL ESTATE                            2.0%
                               ---------------------------------------------
                               HEALTH CARE                              0.5%
                               ---------------------------------------------
                                 PHARMACEUTICALS,
                                 BIOTECHNOLOGY &
                                 LIFE SCIENCES                          0.5%
                               ---------------------------------------------
                               INDUSTRIALS                              5.6%
                               ---------------------------------------------
                                 CAPITAL GOODS                          3.9%
                                 TRANSPORTATION                         1.7%
                               ---------------------------------------------
                               INFORMATION TECHNOLOGY                  11.4%
                               ---------------------------------------------
                                 SEMICONDUCTORS &
                                 SEMICONDUCTOR EQUIPMENT                7.9%
                                 SOFTWARE & SERVICES                    1.5%
                                 TECHNOLOGY HARDWARE &
                                 EQUIPMENT                              1.9%
                               ---------------------------------------------
                               MATERIALS                                6.2%
                               ---------------------------------------------
                               TELECOMMUNICATION SERVICES               4.9%
                               ---------------------------------------------
                               UTILITIES                                3.7%
                               ---------------------------------------------
                               TOTAL NET ASSETS                       100.0%
                               ---------------------------------------------

You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton's Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing, including currency volatility, economic instability and political developments 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. There are special risks associated with investments in China, Hong Kong and Taiwan, including exposure to currency fluctuations, less liquidity, expropriation, confiscatory taxation, nationalization and exchange control regulations (including currency blockage), inflation and rapid fluctuations in inflation and interest rates. In addition, investments in Taiwan could be adversely affected by its political and economic relationship with China. Because the Fund invests its assets primarily in companies in a specific region, the Fund is subject to greater risks of adverse developments in that region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the region, even in countries in which the Fund is not invested, may adversely affect the value of securities held by the Fund. Also, as a nondiversified investment company investing in "China companies," the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager's investment decisions will produce the desired results. 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.

* Equity includes convertible and preferred securities.


                        TEMPLETON GLOBAL INCOME FUND
                            AS OF MARCH 31, 2014
                      TOTAL NET ASSETS: $1,137,012,785
                      NET ASSET VALUE PER SHARE: $8.48
                       OUTSTANDING SHARES: 134,144,158

                          PERCENT OF
                          TOTAL NET
ASSET ALLOCATION            ASSETS     PORTFOLIO CHARACTERISTICS
-------------------------------------  -------------------------------------
CASH & CASH EQUIVALENTS          8.2%  WEIGHTED AVG. MATURITY  3.6310 yrs.
DERIVATIVES                     -0.4%  WEIGHTED AVG. DURATION  2.3151 yrs.
FIXED INCOME                    92.1%  WEIGHTED AVG. COUPON    5.4211%
                        -------------
                               100.0%

                          PERCENT OF                             PERCENT OF
NET CURRENCY              TOTAL NET                              TOTAL NET
DISTRIBUTION                ASSETS     COUNTRY DISTRIBUTION        ASSETS
-------------------------------------  -------------------------------------
ASIA                            27.5%  ASIA                            31.2%
-------------------------------------  -------------------------------------
  INDIAN RUPEE                   3.6%    INDONESIA                      3.1%
  INDO RUPIAH                    3.1%    MALAYSIA                       4.4%
  JAPANESE YEN                 -21.2%    PHILIPPINES                    1.0%
  MALAYSI RINGGIT               16.0%    SINGAPORE                      2.2%
  PHILIPPINE PESO                1.0%    SOUTH KOREA                   16.5%
  SOUTH KOREAN WON              17.5%    SRI LANKA                      3.1%
  SINGAPORE DOLLAR               4.4%    VIETNAM                        0.9%
                                       -------------------------------------
  SRI LANKA RUPEE                3.1%  EUROPE                          42.6%
-------------------------------------  -------------------------------------
EUROPE                          -4.6%    HUNGARY                        4.7%
-------------------------------------
  EURO                         -31.6%    ICELAND                        0.3%
  HUNGARY FORINT                 1.2%    IRELAND                       11.2%
  POLAND ZLOTY                  13.4%    LITHUANIA                      2.5%
  SWEDISH KRONA                 12.5%    POLAND                        12.4%
-------------------------------------
LATIN AMERICA                   28.7%    RUSSIA                         0.5%
-------------------------------------
  BRAZILIAN REAL                 8.4%    SERBIA                         0.6%
  CHILEAN PESO                   7.2%    SLOVENIA                       1.0%
  MEXICAN PESO                   9.6%    SWEDEN                         4.5%
  PERU NUEVO SOL                 3.5%    UKRAINE                        4.9%
-------------------------------------  -------------------------------------
NORTH AMERICA                   48.4%  LATIN AMERICA                   16.8%
-------------------------------------  -------------------------------------
  US DOLLAR                     48.4%    BRAZIL                         8.4%
-------------------------------------
TOTAL                          100.0%    MEXICO                         4.9%
-------------------------------------
                                         PERU                           3.5%
                                       -------------------------------------
                                       NORTH AMERICA                   -0.3%
                                       -------------------------------------
                                         UNITED STATES                 -0.3%
                                       -------------------------------------
                                       OTHER                            9.6%
                                       -------------------------------------
                                         SUPRANATIONAL                  1.4%
                                         CASH                           8.2%
                                       -------------------------------------
                                       TOTAL                          100.0%
                                       -------------------------------------

You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton's Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Changes in interest rates will affect the value of the Fund's portfolio and its share price and yield. Bond prices generally move in the opposite direction of interest rates. Thus, as prices of bonds in the Fund adjust to a rise in interest rates, the Fund's share price may decline. Special risks are associated with foreign investing, including currency fluctuations, economic instability and political developments of countries where the Fund invests. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with their relatively small size and lesser liquidity. The Fund's use of foreign currency techniques involves special risks as such techniques may not achieve the anticipated benefits and/or may result in losses to the Fund. Also, as a nondiversified investment company, the Fund may invest in a relatively small number of issuers and, as a result, be subject to a greater risk of loss with respect to its portfolio securities. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager's investment decisions will produce the desired results. 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.


                TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
                            AS OF MARCH 31, 2014
                        TOTAL NET ASSETS: $81,005,763
                      NET ASSET VALUE PER SHARE: $14.76
                        OUTSTANDING SHARES: 5,490,113

                  PERCENT OF                                     PERCENT OF
                  TOTAL NET                                      TOTAL NET
ASSET ALLOCATION    ASSETS    TEN LARGEST POSITIONS                ASSETS
----------------------------  ----------------------------------------------
CASH & OTHER           10.5%  SBERBANK OF RUSSIA                       10.2%
EQUITY*                89.5%  GLOBALTRANS INVESTMENT PLC                7.1%
                 -----------
                      100.0%  MHP SA                                    6.2%
                              SOCIETATEA NATIONALA DE GAZE
                              NATURALE ROMGAZ SA                        6.2%
                              LUKOIL OAO                                4.9%
                              KCELL JSC                                 4.8%
                              GAZPROM OAO                               4.5%
                              DIXIE GROUP OJSC                          3.9%
                              ETALON GROUP LTD                          3.3%
                              YANDEX NV                                 3.0%
                                                               -------------
                                                                       54.2%

                  PERCENT OF                                     PERCENT OF
INTERNATIONAL     TOTAL NET                                      TOTAL NET
ALLOCATION          ASSETS    INDUSTRY ALLOCATION                  ASSETS
----------------------------  ----------------------------------------------
ASIA                    8.1%  CONSUMER DISCRETIONARY                    4.6%
----------------------------  ----------------------------------------------
 KAZAKHSTAN             8.1%   CONSUMER SERVICES                        2.3%
----------------------------
EUROPE                 90.7%   RETAILING                                2.3%
----------------------------  ----------------------------------------------
 CZECH REPUBLIC         1.2%  CONSUMER STAPLES                         15.9%
                              ----------------------------------------------
 ESTONIA                2.1%   FOOD & STAPLES RETAILING                 7.5%
 POLAND                 8.5%   FOOD BEVERAGE & TOBACCO                  8.5%
                              ----------------------------------------------
 ROMANIA               12.3%  ENERGY                                   32.7%
                              ----------------------------------------------
 RUSSIA                51.7%  FINANCIALS                               23.0%
                              ----------------------------------------------
 TURKEY                 8.0%   BANKS                                   17.1%
 UKRAINE                6.9%   DIVERSIFIED FINANCIALS                   2.2%
----------------------------
MID-EAST/AFRICA         1.2%   REAL ESTATE                              3.7%
----------------------------  ----------------------------------------------
 TURKMENISTAN           1.2%  HEALTH CARE                               2.2%
----------------------------  ----------------------------------------------
TOTAL EQUITY*         100.0%   HEALTH CARE EQUIPMENT &
                               SERVICES                                 2.1%
----------------------------
                               PHARMACEUTICALS, BIOTECHNOLOGY
                               &
                               LIFE SCIENCES                            0.1%
                              ----------------------------------------------
                              INDUSTRIALS                               8.9%
                              ----------------------------------------------
                               CAPITAL GOODS                            1.0%
                               TRANSPORTATION                           8.0%
                              ----------------------------------------------
                              INFORMATION TECHNOLOGY                    7.2%
                              ----------------------------------------------
                               SOFTWARE & SERVICES                      6.6%
                               TECHNOLOGY HARDWARE & EQUIPMENT          0.6%
                              ----------------------------------------------
                              MATERIALS                                 0.2%
                              ----------------------------------------------
                              TELECOMMUNICATION SERVICES                5.4%
                              ----------------------------------------------
                              TOTAL EQUITY*                           100.0%
                              ----------------------------------------------

You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton's Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Special risks are associated with foreign investing including currency volatility, economic instability, and social and political developments 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. Investments in Russian and East European securities involve significant additional risks, including political and social uncertainty (for example, regional conflicts and risk of war), currency exchange rate volatility, pervasiveness of corruption and crime in the Russian and East European economic systems, delays in settling portfolio transactions, and risk of loss arising out of the system of share registration and custody used in Russia and East European countries. Because the Fund invests its assets primarily in companies in a specific region, the Fund is subject to greater risks of adverse developments in that region and/or the surrounding regions than a fund that is more broadly diversified geographically. Political, social or economic disruptions in the region, even in countries in which the Fund is not invested, may adversely affect the value of securities held by the Fund. Also, as a nondiversified investment company investing in Russia and East European countries, the Fund may invest in a relatively small number of issuers and, as a result, be subject to greater risk of loss with respect to its portfolio securities. The Fund is actively managed and investment allocations can be expected to change, but there is no guarantee that the manager's investment decisions will produce the desired results. 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.

* Equity includes convertible and preferred securities.

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

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