April 18, 2007 at 14:51 PM EDT
Templeton Releases Closed-End Funds' Portfolio Allocation Updates

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, 2007:

  • 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 advisers 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 and Fiduciary Trust investment teams. The San Mateo, CA-based company has more than 50 years of investment experience and $576 billion in assets under management as of March 31, 2007. For more information, please call 1-800/DIAL BEN® (1-800-342-5236) or visit franklintempleton.com.

TEMPLETON DRAGON FUND, INC.
AS OF MARCH 31, 2007
TOTAL NET ASSETS: $977,652,414
NET ASSET VALUE PER SHARE: $25.81

ASSET ALLOCATION

PERCENT OF TOTAL
NET ASSETS

TEN LARGEST POSITIONS

PERCENT OF TOTAL
NET ASSETS

CASH & OTHER 0.8% DAIRY FARM INTERNATIONAL HOLDINGS LTD 13.8%
FIXED INCOME 0.0% CHINA MOBILE LTD 9.6%

EQUITY1

99.2% CHINA PETROLEUM & CHEMICAL CORP 8.9%
100.0% PETROCHINA CO LTD 5.7%
CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD 3.9%
HSBC HOLDINGS PLC 3.6%
ASUSTEK COMPUTER INC 3.0%
CNOOC LTD 2.9%
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 2.8%
CHINA RESOURCES ENTERPRISE LTD 2.7%
57.0%

INTERNATIONAL ALLOCATION

PERCENT OF TOTAL
NET ASSETS

INDUSTRY ALLOCATION

PERCENT OF TOTAL
NET ASSETS

ASIA96.4%CONSUMER DISCRETIONARY7.2%
CHINA 54.1% AUTOMOBILES & COMPONENTS 2.5%
HONG KONG 25.2% CONSUMER DURABLES & APPAREL 0.7%
SOUTH KOREA 0.7% CONSUMER SERVICES 0.7%
TAIWAN 16.2% MEDIA 0.2%
VIETNAM 0.3% RETAILING 3.1%
EUROPE3.6%CONSUMER STAPLES14.1%
UNITED KINGDOM 3.6% FOOD & STAPLES RETAILING 13.9%
TOTAL NET ASSETS100.0% FOOD BEVERAGE & TOBACCO 0.2%
ENERGY20.2%
FINANCIALS15.4%
BANKS 12.3%
INSURANCE 0.4%
REAL ESTATE 2.6%
HEALTH CARE0.1%
PHARMACEUTICAL BIOTECHNOLOGY &

LIFE SCIENCES

0.1%

INDUSTRIALS12.4%
CAPITAL GOODS 8.1%
TRANSPORTATION 4.3%
INFORMATION TECHNOLOGY11.5%
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT

4.3%

SOFTWARE & SERVICES 0.5%
TECHNOLOGY HARDWARE & EQUIPMENT 6.7%
MATERIALS0.1%
TELECOMMUNICATION SERVICES12.1%
UTILITIES6.9%
TOTAL NET ASSETS100.0%

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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

1 Equity includes convertible and preferred securities.

TEMPLETON GLOBAL INCOME FUND
AS OF MARCH 31, 2007
TOTAL NET ASSETS: $1,165,099,255
NET ASSET VALUE PER SHARE: $8.92

ASSET ALLOCATION

PERCENT OF TOTAL
NET ASSETS

PORTFOLIO CHARACTERISTICS

CASH & OTHER 12.1% WEIGHTED AVG. CREDIT QUALITY A
FIXED INCOME 87.9% WEIGHTED AVG. MATURITY 3.85 yrs.

EQUITY1

0.0% WEIGHTED AVG. DURATION 2.42 yrs.
100.0% WEIGHTED AVG. COUPON 5.78%

NET CURRENCY DISTRIBUTION

PERCENT OF TOTAL
NET ASSETS

COUNTRY DISTRIBUTION

PERCENT OF TOTAL
NET ASSETS

ASIA48.8%ASIA40.9%
INDIAN RUPEE 4.3% INDIA 4.3%
INDO RUPIAH 8.5% INDONESIA 8.5%
JAPANESE YEN 13.6% JAPAN 4.8%
MALAYSI RINGGIT 2.4% MALAYSIA 2.4%
SOUTH KOREA WON 11.5% PHILIPPINES 0.8%
SINGAPORE DOLLAR 1.7% SINGAPORE 1.7%
THAILAND BAHT 6.9% SOUTH KOREA 11.5%
AUSTRALIA/NEW ZEALAND3.1% THAILAND 6.9%
AUSTRALIAN DLR 3.4% AUSTRALIA/NEW ZEALAND1.4%
N ZEAL DOLLAR -0.4% AUSTRALIA 3.4%
EUROPE29.7% NEW ZEALAND -2.0%
EURO 0.2% EUROPE31.2%
ICELAND KRONA 2.6% EURO COMMUNITY -1.1%
KAZAKHSTAN TENGE 2.1% GERMANY 4.7%
NORWEGIAN KRONE 4.7% ICELAND 0.7%
POLAND ZLOTY 8.2% KAZAKHSTAN 2.1%
ROMANIA LEU-NEW 0.9% NORWAY 4.7%
SLOVAK KORUNA 1.8% POLAND 8.2%
SWEDISH KRONA 9.3% ROMANIA 0.9%
LATIN AMERICA9.9% SLOVAK REPUBLIC 1.8%
BRAZILIAN REAL 5.1% SWEDEN 9.3%
CHILEAN PESO 1.0% LATIN AMERICA13.9%
MEXICAN PESO 0.1% ARGENTINA 4.0%
PERU NUEVO SOL 3.7% BRAZIL 5.1%
MID-EAST/AFRICA2.9% CHILE 1.0%
EGYPTIAN POUND 2.9% MEXICO 0.1%
NORTH AMERICA5.5% PERU 3.7%
CANADIAN DOLLAR 6.1% MID-EAST/AFRICA4.0%
US DOLLAR -0.6% EGYPT 2.9%
TOTAL100.0% IRAQ 1.1%
NORTH AMERICA5.7%
CANADA 7.5%
UNITED STATES -1.8%
OTHER3.0%
SUPRANATIONAL 3.0%
TOTAL100.0%

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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

1 Equity includes convertible and preferred securities.

TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
AS OF MARCH 31, 2007
TOTAL NET ASSETS: $368,845,351
NET ASSET VALUE PER SHARE: $67.48

ASSET ALLOCATION

PERCENT OF TOTAL
NET ASSETS

TEN LARGEST POSITIONS

PERCENT

OF TOTAL
NET ASSETS

CASH & OTHER 2.4% UNIFIED ENERGY SYSTEMS 14.0%
FIXED INCOME 0.0% SBERBANK RF 13.8%

EQUITY1

97.6% LUKOIL HOLDINGS 9.9%
100.0% MINING AND METALLURGICAL CO NORILSK NICKEL 7.9%
CHEREPOVETS MK SEVERSTAL 6.2%
VOLGATELECOM 6.1%
SIBIRTELECOM 5.0%
EGIS NYRT 4.1%
CHELYABINSK PIPE WORKS 3.4%
GAZPROM OAO 3.4%
73.9%

INTERNATIONAL ALLOCATION

PERCENT OF TOTAL
NET ASSETS

INDUSTRY ALLOCATION

PERCENT OF TOTAL
NET ASSETS

EUROPE100.0%CONSUMER STAPLES0.2%
AUSTRIA 1.2% FOOD & STAPLES RETAILING 0.2%
HUNGARY 4.2% ENERGY19.3%
POLAND 1.4% FINANCIALS16.4%
RUSSIA 93.2% BANKS 15.3%

TOTAL EQUITY1

100.0% REAL ESTATE 1.2%
HEALTH CARE4.8%
PHARMACEUTICALS BIOTECHNOLOGY &

LIFE SCIENCES

4.8%

INDUSTRIALS0.4%
CAPITAL GOODS 0.4%
INFORMATION TECHNOLOGY0.8%
TECHNOLOGY HARDWARE & EQUIPMENT 0.8%
MATERIALS21.1%
TELECOMMUNICATION SERVICES22.0%
UTILITIES14.9%

TOTAL EQUITY1

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. The Fund's portfolio is actively managed and investment allocations can be expected to change.

1 Equity includes convertible and preferred securities.

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