Templeton Releases Closed-End Funds Portfolio Allocation Updates

Business Wire, Sept 24, 1997

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 24, 1997--The Templeton closed-end Funds referenced below, which trade on the New York Stock Exchange, Wednesday released portfolio allocation updates containing the following information as of Aug. 31, 1997:

-- Asset Allocation

-- International Allocation

-- Industry Allocation

To obtain a copy of the updates, please contact the Fund Information Department at 800/342-5236.

Templeton closed-end Funds:

Templeton China World Fund Inc. (Stock Symbol:TCH)

Templeton Emerging Markets Appreciation Fund Inc. (Stock

Symbol:TEA)

Templeton Russia Fund Inc. (Stock Symbol:TRF)

The Funds' investment advisers are subsidiaries of Franklin Resources Inc. (NYSE:BEN). Franklin's main business is the $214 billion Franklin Templeton Group. The company has its headquarters at 777 Mariners Island Blvd., San Mateo, Calif. 94404.

CONTACT: The Franklin Templeton Fund Information Department

800/342-5236

or

Members of the media should contact

Holly Gibson, 415/312-4701