-- 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 Emerging Markets Fund (NYSE: EMF)       Templeton Emerging Markets Income Fund (NYSE: TEI)       Templeton Global Income Fund (NYSE: GIM) 

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 $448 billion in assets under management as of May 31, 2009. For more information, please call 1-800/DIAL BEN(R) or visit franklintempleton.com.

                       TEMPLETON EMERGING MARKETS FUND                             AS OF MAY 31, 2009                       TOTAL NET ASSETS: $255,935,767                     NET ASSET VALUE PER SHARE: $14.16                  PERCENT OF                                     PERCENT OF                   TOTAL NET                                      TOTAL NET ASSET ALLOCATION   ASSETS          TEN LARGEST POSITIONS          ASSETS ---------------- ---------   ----------------------------------  --------- CASH & OTHER           0.4%  PETROLEO BRASILEIRO SA (PETROBRAS)        9.2% EQUITY*               99.6%  VALE SA                                   6.1%                  ---------   PETROCHINA CO LTD                         5.2%                      100.0%  AKBANK TAS                                4.8%                              DENWAY MOTORS LTD                         4.2%                              ITAU UNIBANCO HOLDING SA                  3.8%                              SESA GOA LTD                              3.7%                              BANCO BRADESCO SA                         3.7%                              ALUMINUM CORP OF CHINA LTD                3.7%                              SK ENERGY CO LTD                          3.6%                                                                  ---------                                                                       48.1%                  PERCENT OF                                      PERCENT OF                  PORTFOLIO                                       PORTFOLIO INTERNATIONAL       NET                                             NET  ALLOCATION        ASSETS            INDUSTRY ALLOCATION           ASSETS ---------------- ---------   ----------------------------------- --------- ASIA                  61.9%  CONSUMER DISCRETIONARY                    9.1%   CHINA               17.7%    AUTOMOBILES & COMPONENTS                7.1%   HONG KONG            4.9%    CONSUMER DURABLES & APPAREL             1.9%   INDIA               10.2%  CONSUMER STAPLES                          5.8%   INDONESIA            3.7%    FOOD & STAPLES RETAILING                5.3%   PAKISTAN             1.2%    HOUSEHOLD & PERSONAL PRODUCTS           0.6%   SOUTH KOREA          6.8%  ENERGY                                   36.2%   TAIWAN               2.2%  FINANCIALS                               19.6%   THAILAND             8.3%    BANKS                                  17.0%   TURKEY               7.0%    DIVERSIFIED FINANCIALS                  1.5% EUROPE                13.2%    REAL ESTATE                             1.2%   AUSTRIA              1.4%  INDUSTRIALS                               3.0%   HUNGARY              0.9%    CAPITAL GOODS                           2.1%   RUSSIA               8.8%    TRANSPORTATION                          0.8%   UNITED KINGDOM       2.1%  INFORMATION TECHNOLOGY                    4.2% LATIN AMERICA         24.7%    SEMICONDUCTORS & SEMICONDUCTOR   BRAZIL              22.9%     EQUIPMENT                              2.2%   MEXICO               1.7%    SOFTWARE & SERVICES                     1.8% MID-EAST/AFRICA        0.2%    TECHNOLOGY HARDWARE & EQUIPMENT         0.3%   SOUTH AFRICA         0.2%  MATERIALS                                20.8% TOTAL EQUITY*        100.0%  TELECOMMUNICATION SERVICES                1.3%                              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(R) (1-800-342-5236).