SYS-CON MEDIA Authors: Zakia Bouachraoui, Liz McMillan, Carmen Gonzalez, Roger Strukhoff, David Linthicum

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Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, FL -- (Marketwired) -- 10/22/14 -- 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 September 30, 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 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 approximately $898 billion in assets under management as of September 30, 2014. For more information, please 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 SEPTEMBER 30, 2014
                      TOTAL NET ASSETS: $1,003,521,738
                      NET ASSET VALUE PER SHARE: $28.53
                       OUTSTANDING SHARES: 35,177,111

                PERCENT                                              PERCENT
                OF TOTAL                                            OF TOTAL
ASSET             NET                                                  NET
 ALLOCATION      ASSETS  TEN LARGEST POSITIONS                       ASSETS
------------------------ ---------------------------------------------------
CASH & OTHER        2.5% DAIRY FARM INTERNATIONAL HOLDINGS LTD         12.5%
EQUITY*            97.5% CHINA PETROLEUM & CHEMICAL CORP (SINOPEC)      7.4%
               ---------
                  100.0% TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD      6.1%
                         PETROCHINA CO LTD                              4.8%
                         CNOOC LTD                                      4.1%
                         CHINA MOBILE LTD                               3.6%
                         CHINA CONSTRUCTION BANK CORP                   3.6%
                         DONGFENG MOTOR GROUP CO LTD                    2.9%
                         INDUSTRIAL AND COMMERCIAL BANK OF CHINA LTD    2.3%
                         CHEUNG KONG INFRASTRUCTURE HOLDINGS LTD        2.2%
                                                                    --------
                                                                       49.5%

                  PERCENT                                           PERCENT
                  OF TOTAL                                          OF TOTAL
INTERNATIONAL       NET                                               NET
ALLOCATION         ASSETS  INDUSTRY ALLOCATION                       ASSETS
-------------------------- -------------------------------------------------
ASIA                 80.9% CONSUMER DISCRETIONARY                       9.8%
-------------------------- -------------------------------------------------
  CHINA              51.9%   AUTOMOBILES & COMPONENTS                   6.4%
  HONG KONG          20.3%   CONSUMER DURABLES & APPAREL                1.7%
  TAIWAN              8.6%   CONSUMER SERVICES                          0.4%
--------------------------
LATIN AMERICA        19.1%   MEDIA                                      0.2%
--------------------------
  CAYMAN ISLANDS     19.1%   RETAILING                                  1.1%
-------------------------- -------------------------------------------------
TOTAL EQUITY*       100.0% CONSUMER STAPLES                            17.0%
-------------------------- -------------------------------------------------
                             FOOD & STAPLES RETAILING                  14.4%
                             FOOD BEVERAGE & TOBACCO                    2.5%
                             HOUSEHOLD & PERSONAL PRODUCTS              0.1%
                           -------------------------------------------------
                           ENERGY                                      17.6%
                           -------------------------------------------------
                           FINANCIALS                                  27.5%
                           -------------------------------------------------
                             BANKS                                      6.5%
                             DIVERSIFIED FINANCIALS                    19.1%
                             INSURANCE                                  0.8%
                             REAL ESTATE                                1.1%
                           -------------------------------------------------
                           HEALTH CARE                                  0.4%
                           -------------------------------------------------
                             PHARMACEUTICALS, BIOTECHNOLOGY &
                             LIFE SCIENCES                              0.4%
                           -------------------------------------------------
                           INDUSTRIALS                                  4.6%
                           -------------------------------------------------
                             CAPITAL GOODS                              2.6%
                             TRANSPORTATION                             2.0%
                           -------------------------------------------------
                           INFORMATION TECHNOLOGY                      11.2%
                           -------------------------------------------------
                             SEMICONDUCTORS & SEMICONDUCTOR
                             EQUIPMENT                                  7.8%
                             SOFTWARE & SERVICES                        2.3%
                             TECHNOLOGY HARDWARE & EQUIPMENT            1.1%
                           -------------------------------------------------
                           MATERIALS                                    4.2%
                           -------------------------------------------------
                           TELECOMMUNICATION SERVICES                   4.4%
                           -------------------------------------------------
                           UTILITIES                                    3.4%
                           -------------------------------------------------
                           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 SEPTEMBER 30, 2014
                      TOTAL NET ASSETS: $1,151,215,287
                      NET ASSET VALUE PER SHARE: $8.58
                       OUTSTANDING SHARES: 134,144,158

                  PERCENT OF
                  TOTAL NET
ASSET ALLOCATION    ASSETS   PORTFOLIO CHARACTERISTICS
---------------------------- -----------------------------------------------
CASH & CASH
EQUIVALENTS             8.6% WEIGHTED AVG. MATURITY              4.1810 yrs.
DERIVATIVES             3.1% WEIGHTED AVG. DURATION              2.7286 yrs.
FIXED INCOME           88.3% WEIGHTED AVG. COUPON                5.1315%
                 -----------
                      100.0%


                  PERCENT OF                                      PERCENT OF
NET CURRENCY      TOTAL NET                                       TOTAL NET
DISTRIBUTION        ASSETS   COUNTRY DISTRIBUTION                   ASSETS
---------------------------- -----------------------------------------------
ASIA                   24.8% ASIA                                      30.2%
---------------------------- -----------------------------------------------
  INDIAN RUPEE          5.5%   INDIA                                    2.0%
  INDO RUPIAH           2.8%   INDONESIA                                2.8%
  JAPANESE YEN        -22.6%   MALAYSIA                                 4.0%
  MALAYSI RINGGIT      15.3%   PHILIPPINES                              0.9%
  PHILIPPINE PESO       0.9%   SINGAPORE                                1.8%
  SOUTH KOREAN
  WON                  15.6%   SOUTH KOREA                             14.3%
  SINGAPORE
  DOLLAR                4.0%   SRI LANKA                                3.4%
  SRI LANKA RUPEE       3.4%   VIETNAM                                  0.9%
---------------------------- -----------------------------------------------
EUROPE                 -6.2% EUROPE                                    39.5%
---------------------------- -----------------------------------------------
  EURO                -28.9%   HUNGARY                                  4.4%
  HUNGARY FORINT        1.1%   ICELAND                                  0.3%
  POLAND ZLOTY         12.1%   IRELAND                                  8.5%
  SWEDISH KRONA         9.5%   LITHUANIA                                2.4%
----------------------------
LATIN AMERICA          28.3%   POLAND                                  11.3%
----------------------------
  BRAZILIAN REAL        8.9%   PORTUGAL                                 2.5%
  CHILEAN PESO          6.5%   RUSSIA                                   0.4%
  MEXICAN PESO          9.4%   SERBIA                                   0.6%
  PERU NUEVO SOL        3.4%   SLOVENIA                                 1.0%
----------------------------
NORTH AMERICA          53.1%   SWEDEN                                   3.7%
----------------------------
  US DOLLAR            53.1%   UKRAINE                                  4.3%
---------------------------- -----------------------------------------------
TOTAL                 100.0% LATIN AMERICA                             17.1%
---------------------------- -----------------------------------------------
                               BRAZIL                                   8.9%
                               MEXICO                                   4.8%
                               PERU                                     3.4%
                             -----------------------------------------------
                             NORTH AMERICA                             -0.5%
                             -----------------------------------------------
                               UNITED STATES                           -0.5%
                             -----------------------------------------------
                             OTHER                                     13.7%
                             -----------------------------------------------
                               SUPRANATIONAL                            1.4%
                               CASH                                     8.6%
                               DERIVATIVES                              3.6%
                             -----------------------------------------------
                             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 SEPTEMBER 30, 2014
                        TOTAL NET ASSETS: $75,471,683
                      NET ASSET VALUE PER SHARE: $14.33
                        OUTSTANDING SHARES: 5,266,842

                 PERCENT OF                                        PERCENT
                 TOTAL NET                                         OF TOTAL
ASSET ALLOCATION   ASSETS   TEN LARGEST POSITIONS                 NET ASSETS
--------------------------- ------------------------------------------------
CASH & OTHER           4.3% SBERBANK OF RUSSIA                          8.7%
                            SOCIETATEA NATIONALA DE GAZE NATURALE
EQUITY*               95.7% ROMGAZ SA                                   6.7%
                -----------
                     100.0% LUKOIL OAO                                  6.5%
                            MHP SA                                      6.0%
                            DIXY GROUP OJSC                             5.8%
                            GLOBALTRANS INVESTMENT PLC                  5.3%
                            YANDEX NV                                   5.3%
                            KCELL JSC                                   4.4%
                            MAIL RU GROUP LTD                           4.4%
                            MAGNIT OJSC                                 3.8%
                                                                 -----------
                                                                       56.9%

                 PERCENT OF                                       PERCENT OF
INTERNATIONAL    TOTAL NET                                        TOTAL NET
ALLOCATION         ASSETS   INDUSTRY ALLOCATION                     ASSETS
--------------------------- ------------------------------------------------
ASIA                   7.8% CONSUMER DISCRETIONARY                      3.9%
--------------------------- ------------------------------------------------
  KAZAKHSTAN           7.8%   CONSUMER SERVICES                         2.1%
---------------------------
EUROPE                86.1%   RETAILING                                 1.8%
--------------------------- ------------------------------------------------
  CZECH REPUBLIC       1.0% CONSUMER STAPLES                           16.9%
                            ------------------------------------------------
  ESTONIA              1.8%   FOOD & STAPLES RETAILING                 10.5%
  GEORGIA              2.2%   FOOD BEVERAGE & TOBACCO                   6.4%
                            ------------------------------------------------
  POLAND               3.4% ENERGY                                     27.5%
                            ------------------------------------------------
  ROMANIA             12.8% FINANCIALS                                 17.4%
                            ------------------------------------------------
  RUSSIA              56.2%   BANKS                                    13.6%
  TURKEY               2.4%   REAL ESTATE                               3.8%
                            ------------------------------------------------
  UKRAINE              6.3% HEALTH CARE                                 1.8%
--------------------------- ------------------------------------------------
MID-EAST/AFRICA        1.2%   HEALTH CARE EQUIPMENT & SERVICES          1.8%
--------------------------- ------------------------------------------------
  TURKMENISTAN         1.2% INDUSTRIALS                                 7.9%
--------------------------- ------------------------------------------------
NORTH AMERICA          4.9%   CAPITAL GOODS                             0.5%
---------------------------
  UNITED STATES        4.9%   TRANSPORTATION                            7.4%
--------------------------- ------------------------------------------------
TOTAL EQUITY*        100.0% INFORMATION TECHNOLOGY                     18.6%
--------------------------- ------------------------------------------------
                              SOFTWARE & SERVICES                      18.6%
                            ------------------------------------------------
                            MATERIALS                                   1.2%
                            ------------------------------------------------
                            TELECOMMUNICATION SERVICES                  4.8%
                            ------------------------------------------------
                            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. The U.S. and other nations have imposed and could impose additional sanctions on certain issuers in Russia due to regional conflicts. These sanctions could result in the devaluation of Russia's currency, a downgrade in Russian issuers' credit ratings, or a decline in the value and liquidity of Russian stocks or other securities. The Fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, if the Fund holds the securities of an issuer that is subject to such sanctions, an immediate freeze of that issuer's securities could result, impairing the ability of the Fund to buy, sell, receive or deliver those securities. There is also the risk that countermeasures could be taken by Russia's government, which could involve the seizure of the Fund's assets. Such sanctions could adversely affect Russia's economy, possibly forcing the economy into a recession. These risks could impair the Fund's ability to meet its investment objective. 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, may 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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