Templeton Releases Closed-End Funds' Portfolio Allocation Updates

FORT LAUDERDALE, Fla.--(Business Wire)--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, 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 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
and Fiduciary Trust investment teams. The San Mateo, CA-based company
has 60 years of investment experience and over $643 billion in assets
under management as of December 31, 2007. For more information, please
call 1-800/DIAL BEN(R) (1-800-342-5236) or visit
franklintempleton.com.

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TEMPLETON DRAGON FUND, INC.
AS OF DECEMBER 31, 2007
TOTAL NET ASSETS: $1,315,382,011
NET ASSET VALUE PER SHARE: $34.73

PERCENT OF PERCENT OF
TOTAL NET TOTAL NET
ASSET ALLOCATION ASSETS TEN LARGEST POSITIONS ASSETS
---------------------------------- -----------------------------------
CASH & OTHER -0.1% CHINA MOBILE LTD 12.0%
CHINA PETROLEUM &
EQUITY(a) 100.1% CHEMICAL CORP (SINOPEC) 11.2%
DAIRY FARM INTERNATIONAL
100.0% HOLDINGS LTD 11.1%
PETROCHINA CO LTD 7.8%
CHINA CONSTRUCTION BANK 5.4%
CNOOC LTD 5.1%
CHEUNG KONG
INFRASTRUCTURE HOLDINGS
LTD 3.1%
ASUSTEK COMPUTER INC 3.0%
CHINA SHENHUA ENERGY CO
LTD 2.9%
CITIC PACIFIC LTD 2.8%
64.5%
*T

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PERCENT OF PERCENT OF
TOTAL NET TOTAL NET
INTERNATIONAL ALLOCATION ASSETS INDUSTRY ALLOCATION ASSETS
---------------------------------- -----------------------------------
ASIA 100.0% CONSUMER DISCRETIONARY 6.3%
AUTOMOBILES &
CAMBODIA 0.4% COMPONENTS 3.2%
CONSUMER DURABLES &
CHINA 63.0% APPAREL 0.4%
HONG KONG 23.9% CONSUMER SERVICES 0.4%
SINGAPORE 0.2% MEDIA 0.1%
TAIWAN 12.6% RETAILING 2.1%
TOTAL NET ASSETS 100.0% CONSUMER STAPLES 11.8%
FOOD & STAPLES
RETAILING 11.0%
FOOD BEVERAGE &
TOBACCO 0.7%
ENERGY 28.4%
FINANCIALS 10.9%
BANKS 8.8%
INSURANCE 0.3%
REAL ESTATE 1.8%
HEALTH CARE 0.1%
PHARMACEUTICALS
BIOTECHNOLOGY & LIFE
SCIENCES 0.1%
INDUSTRIALS 11.0%
CAPITAL GOODS 7.9%
TRANSPORTATION 3.0%
INFORMATION TECHNOLOGY 10.4%
SEMICONDUCTORS &
SEMICONDUCTOR
EQUIPMENT 3.8%
SOFTWARE & SERVICES 0.4%
TECHNOLOGY HARDWARE &
EQUIPMENT 6.1%
MATERIALS 0.1%
TELECOMMUNICATION
SERVICES 14.9%
UTILITIES 6.2%
TOTAL NET ASSETS 100.0%
*T

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.

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TEMPLETON GLOBAL INCOME FUND
AS OF DECEMBER 31, 2007
TOTAL NET ASSETS: $1,155,002,307
NET ASSET VALUE PER SHARE: $8.83

PERCENT OF
TOTAL NET
ASSET ALLOCATION ASSETS PORTFOLIO CHARACTERISTICS
---------------------------------- -----------------------------------
CASH & OTHER 13.8% WEIGHTED AVG. CREDIT
QUALITY A+
FIXED INCOME 86.2% WEIGHTED AVG. MATURITY 4.92 yrs.
100.0% WEIGHTED AVG. DURATION 3.44 yrs.
WEIGHTED AVG. COUPON 5.477%
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PERCENT OF PERCENT OF
NET CURRENCY TOTAL NET TOTAL NET
DISTRIBUTION ASSETS COUNTRY DISTRIBUTION ASSETS
---------------------------------- -----------------------------------
ASIA 48.6% ASIA 41.5%
INDIAN RUPEE 5.3% INDIA 5.3%
INDO RUPIAH 6.6% INDONESIA 6.6%
JAPANESE YEN 19.0% JAPAN 11.8%
MALAYSI RINGGIT 11.0% MALAYSIA 11.0%
SOUTH KOREA WON 4.9% PHILIPPINES 0.1%
SINGAPORE DOLLAR 1.7% SINGAPORE 1.7%
AUSTRALIA/NEW ZEALAND 2.7% SOUTH KOREA 4.9%
AUSTRALIAN DLR 3.2% AUSTRALIA/NEW ZEALAND 0.9%
N ZEAL DOLLAR -0.5% AUSTRALIA 3.2%
EUROPE 41.1% NEW ZEALAND -2.3%
EURO 1.0% EUROPE 41.7%
ICELAND KRONA 1.0% EURO COMMUNITY 0.9%
KAZAKHSTAN TENGE 5.0% GERMANY 5.1%
NORWEGIAN KRONE 7.0% ICELAND 1.0%
POLAND ZLOTY 7.4% KAZAKHSTAN 5.0%
ROMANIA LEU-NEW -3.0% NORWAY 7.0%
SWEDISH KRONA 12.7% POLAND 3.1%
SWISS FRANC 9.9% ROMANIA -3.0%
LATIN AMERICA 13.3% SWEDEN 12.7%
BRAZILIAN REAL 7.4% SWITZERLAND 9.9%
CHILEAN PESO 2.2% LATIN AMERICA 14.3%
COLOMBIAN PESO 0.5% ARGENTINA 2.4%
MEXICAN PESO -0.2% BRAZIL 7.4%
PERU NUEVO SOL 3.3% CHILE 2.2%
MID-EAST/AFRICA 4.8% COLOMBIA 0.5%
EGYPTIAN POUND 4.8% MEXICO -1.5%
NORTH AMERICA -10.4% PERU 3.3%
CANADIAN DOLLAR 2.6% MID-EAST/AFRICA 6.0%
US DOLLAR -13.0% EGYPT 4.8%
TOTAL 100.0% IRAQ 1.2%
NORTH AMERICA -12.0%
CANADA 4.0%
UNITED STATES -16.0%
OTHER 7.6%
SUPRANATIONAL 7.6%
TOTAL 100.0%
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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.

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TEMPLETON RUSSIA AND EAST EUROPEAN FUND, INC.
AS OF DECEMBER 31, 2007
TOTAL NET ASSETS: $358,192,167
NET ASSET VALUE PER SHARE: $65.37

PERCENT OF PERCENT OF
TOTAL NET TOTAL NET
ASSET ALLOCATION ASSETS TEN LARGEST POSITIONS ASSETS
---------------------------------- -----------------------------------
CASH & OTHER 10.6% SBERBANK RF 16.8%
MINING AND METALLURGICAL
EQUITY(a) 89.4% CO NORILSK NICKEL 11.7%
100.0% CHEREPOVETS MK SEVERSTAL 10.5%
LUKOIL HOLDINGS 10.2%
VOLGATELECOM 7.3%
GAZPROM OAO 5.4%
SIBIRTELECOM 4.9%
EGIS NYRT 4.0%
SOUTHERN
TELECOMMUNICATIONS
COMPANY 3.5%
EURASIAN NATURAL
RESOURCES CORP 1.7%
76.0%
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PERCENT OF PERCENT OF
TOTAL NET TOTAL NET
INTERNATIONAL ALLOCATION ASSETS INDUSTRY ALLOCATION ASSETS
---------------------------------- -----------------------------------
EUROPE 100.0% CONSUMER STAPLES 1.8%
FOOD & STAPLES
AUSTRIA 0.9% RETAILING 0.3%
HUNGARY 4.5% FOOD BEVERAGE & TOBACCO 1.6%
KAZAKHSTAN 2.1% ENERGY 20.4%
LUXEMBOURG 1.6% FINANCIALS 21.8%
NETHERLANDS 1.0% BANKS 19.0%
RUSSIA 89.9% REAL ESTATE 2.8%
TOTAL EQUITY(a) 100.0% HEALTH CARE 5.4%
PHARMACEUTICALS
BIOTECHNOLOGY & LIFE
SCIENCES 5.4%
INDUSTRIALS 0.5%
CAPITAL GOODS 0.5%
MATERIALS 30.9%
TELECOMMUNICATION
SERVICES 18.9%
UTILITIES 0.3%
TOTAL EQUITY(a) 100.0%
*T

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.

Franklin Templeton Investments, 1-800-342-5236

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