Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL -- (Marketwire) -- 01/20/11 -- 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 December 31, 2010:

--  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 $670 billion in assets under management as of December 31, 2010. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.


                       TEMPLETON DRAGON FUND, INC.
                         AS OF DECEMBER 31, 2010
                    TOTAL NET ASSETS: $1,258,099,474
                    NET ASSET VALUE PER SHARE: $33.22

                  PERCENT                                           PERCENT
                    OF                                                OF
                  TOTAL                                             TOTAL
                   NET                                               NET
ASSET ALLOCATION  ASSETS          TEN LARGEST POSITIONS             ASSETS
----------------  ------  ----------------------------------------- ------
CASH & OTHER         0.3% DAIRY FARM INTERNATIONAL HOLDINGS LTD       17.4%
EQUITY*             99.7% CHINA PETROLEUM & CHEMICAL CORP (SINOPEC)    7.4%
                  ------  CNOOC LTD                                    7.4%
                   100.0% PETROCHINA CO LTD                            5.5%
                          CHINA MOBILE LTD                             3.9%
                          YANZHOU COAL MINING CO LTD                   3.7%
                          CHINA CONSTRUCTION BANK                      3.4%
                          TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD    3.0%
                          BANK OF CHINA LTD                            2.5%
                          CHINA SHENHUA ENERGY CO LTD                  2.5%
                                                                    ------
                                                                      56.6%


                 PERCENT                                           PERCENT
                   OF                                                OF
                  TOTAL                                             TOTAL
INTERNATIONAL      NET                                               NET
 ALLOCATION      ASSETS             INDUSTRY ALLOCATION            ASSETS
---------------  -------  ---------------------------------------- -------
ASIA               99.9%  CONSUMER DISCRETIONARY                       8.7%
  CAMBODIA          0.3%    AUTOMOBILES & COMPONENTS                   5.6%
  CHINA            62.3%    CONSUMER DURABLES & APPAREL                0.4%
  HONG KONG        27.5%    CONSUMER SERVICES                          1.0%
  TAIWAN            9.8%    RETAILING                                  1.7%
NORTH AMERICA       0.1%  CONSUMER STAPLES                            22.8%
  UNITED STATES     0.1%    FOOD & STAPLES RETAILING                  19.7%
TOTAL EQUITY*     100.0%    FOOD BEVERAGE & TOBACCO                    3.1%
                          ENERGY                                      27.3%
                          FINANCIALS                                  14.8%
                            BANKS                                      9.7%
                            INSURANCE                                  1.4%
                            REAL ESTATE                                3.7%
                          HEALTH CARE                                  0.2%
                            PHARMACEUTICALS, BIOTECHNOLOGY &
                             LIFE SCIENCES                             0.2%
                          INDUSTRIALS                                  6.0%
                            CAPITAL GOODS                              4.3%
                            COMMERCIAL & PROFESSIONAL SERVICES         0.1%
                            TRANSPORTATION                             1.6%
                          INFORMATION TECHNOLOGY                       9.4%
                            SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT   3.7%
                            SOFTWARE & SERVICES                        1.1%
                            TECHNOLOGY HARDWARE & EQUIPMENT            4.5%
                          MATERIALS                                    2.4%
                          TELECOMMUNICATION SERVICES                   4.9%
                          UTILITIES                                    3.5%
                          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.

                       TEMPLETON GLOBAL INCOME FUND
                          AS OF DECEMBER 31, 2010
                     TOTAL NET ASSETS: $1,303,913,661
                     NET ASSET VALUE PER SHARE: $9.90

                   PERCENT
                     OF
                    TOTAL
                     NET
ASSET ALLOCATION   ASSETS       PORTFOLIO CHARACTERISTICS
----------------   ------  ----------------------------------- -----------
CASH & OTHER         10.8% WEIGHTED AVG. MATURITY              6.6921 yrs.
FIXED INCOME         89.2% WEIGHTED AVG. DURATION              4.1652 yrs.
                   ------  WEIGHTED AVG. COUPON                5.9498%
                    100.0%


                    PERCENT
                      OF
                    TOTAL                                        PERCENT OF
NET CURRENCY         NET                                         TOTAL NET
 DISTRIBUTION       ASSETS         COUNTRY DISTRIBUTION           ASSETS
--------------     -------  ----------------------------------  ----------
ASIA                  32.1% ASIA                                      28.6%
  CHINESE YUAN         1.6%   INDIA                                    0.7%
  INDIAN RUPEE         6.9%   INDONESIA                                8.8%
  INDO RUPIAH          7.2%   PHILIPPINES                              0.2%
  JAPANESE YEN       -22.8%   SOUTH KOREA                             15.8%
  MALAYSI RINGGIT     15.3%   SRI LANKA                                2.3%
  PHILIPPINE PESO      5.8%   VIETNAM                                  0.7%
  SOUTH KOREAN WON    15.8% AUSTRALIA/NEW ZEALAND                      8.3%
  SRI LANKA RUPEE      2.3%   AUSTRALIA                                8.3%
AUSTRALIA/NEW ZEALAND 11.9% EUROPE                                    22.9%
  AUSTRALIAN DOLLAR   11.9%   HUNGARY                                  2.3%
EUROPE                -3.4%   LITHUANIA                                2.1%
  EURO               -31.6%   NORWAY                                   1.3%
  NORWEGIAN KRONE      8.6%   POLAND                                   8.4%
  POLAND ZLOTY         7.7%   RUSSIA                                   4.4%
  SWEDISH KRONA       11.9%   SWEDEN                                   4.5%
LATIN AMERICA         25.8% LATIN AMERICA                             20.3%
  BRAZILIAN REAL       9.0%   ARGENTINA                                1.8%
  CHILEAN PESO         7.5%   BRAZIL                                   8.4%
  MEXICAN PESO         6.1%   MEXICO                                   5.0%
  PERU NUEVO SOL       3.2%   PERU                                     3.2%
  MID-EAST/AFRICA     10.5%   VENEZUELA                                1.9%
  EGYPTIAN POUND       5.1% MID-EAST/AFRICA                           10.5%
  ISRAELI SHEKEL       5.3%   EGYPT                                    5.1%
NORTH AMERICA         23.1%   ISRAEL                                   2.8%
  US DOLLAR           23.1%   SOUTH AFRICA                             1.7%
TOTAL                100.0%   UNITED ARAB EMIRATES                     0.9%
                            NORTH AMERICA                              2.9%
                              CANADA                                   0.5%
                              UNITED STATES                            2.5%
                            OTHER                                      6.4%
                              SUPRANATIONAL                            3.5%
                              CASH                                     0.9%
                              DERIVATIVES                              1.9%
                            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 RUSSIA AND EAST EUROPEAN FUND, INC.
                               AS OF DECEMBER 31, 2010
                            TOTAL NET ASSETS: $134,101,766
                          NET ASSET VALUE PER SHARE: $23.34


                   PERCENT                                          PERCENT
                     OF                                               OF
                   TOTAL                                            TOTAL
                    NET                                              NET
ASSET ALLOCATION   ASSETS          TEN LARGEST POSITIONS            ASSETS
----------------   ------  ---------------------------------------- ------
CASH & OTHER         12.6% CHEREPOVETS MK SEVERSTAL                   10.9%
EQUITY*              87.4% SBERBANK RF                                 8.8%
                   ------  MECHEL OAO                                  8.4%
                    100.0% SYNERGY CO                                  6.9%
                           GLOBALTRANS INVESTMENT PLC                  6.6%
                           VEROPHARM                                   6.1%
                           MHP SA                                      4.9%
                           CTC MEDIA INC                               4.3%
                           VIMPELCOM LTD                               3.5%
                           AGROTON PUBLIC LTD                          3.2%
                                                                    ------
                                                                      63.6%



                 PERCENT                                           PERCENT
                   OF                                                OF
                  TOTAL                                             TOTAL
INTERNATIONAL      NET                                               NET
 ALLOCATION       ASSETS             INDUSTRY ALLOCATION            ASSETS
---------------  --------   --------------------------------------- ------
EUROPE               95.1%  CONSUMER DISCRETIONARY                     4.9%
  HUNGARY             2.8%    MEDIA                                    4.9%
  KAZAKHSTAN          0.2%  CONSUMER STAPLES                          19.8%
  LUXEMBOURG          2.2%    FOOD & STAPLES RETAILING                 0.5%
  RUSSIA             80.2%    FOOD BEVERAGE & TOBACCO                 19.3%
  UKRAINE             9.7%  ENERGY                                    13.7%
NORTH AMERICA         4.9%  FINANCIALS                                10.1%
  UNITED STATES       4.9%    BANKS                                   10.1%
TOTAL EQUITY*       100.0%  HEALTH CARE                                9.8%
                              PHARMACEUTICALS, BIOTECHNOLOGY &
                               LIFE SCIENCES                           9.8%
                            INDUSTRIALS                                7.5%
                              TRANSPORTATION                           7.5%
                            INFORMATION TECHNOLOGY                     0.9%
                              SOFTWARE & SERVICES                      0.9%
                            MATERIALS                                 24.1%
                            TELECOMMUNICATION SERVICES                 6.6%
                            UTILITIES                                  2.7%
                            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

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