Templeton Asian Growth Fund receives award in "Equity Asia Pacific Ex Japan" category at Lipper Fund Awards - Gulf region

The fund also received a performance achievement certificate for the five-year period.

Harshendu Bindal, Franklin Templeton's Dubai-based senior director of Central and Eastern Europe, Middle East and Africa regions, said, "The award reflects the time-tested, long-term capital appreciation approach that this fund undertakes. We are proud to count Templeton Asian Growth Fund among Franklin Templeton's broad range of investment offerings available to Gulf region investors."

Dr. Mark Mobius, executive chairman of Templeton Asset Management Limited, and portfolio manager of Templeton Asian Growth Fund, commented, "Asia is the largest emerging markets region in the world and home to some of the fastest growing economies globally. In fact, more than 50% of the world's population lives in Asia, providing the region with a major consumer base. One of the key factors for investing in Asia is its robust economic growth. Emerging Asia is expected to grow 8.6% in 2008, which is four times more than the forecast of 1.8% forecast for developed markets. In addition to strong economic growth, per capita income has been rising and reforms continue, thus improving the region's business and investment environment. Furthermore, in line with that economic growth, earnings growth is expected to be much stronger than that in the developed world. One should also note that the region is home to two of the fastest growing major economies in the world - China and India."

In addition, Lipper awarded five other Franklin Templeton funds with performance achievement certificates for the Gulf Region, including: Templeton Global Bond Fund for the three- and 10-year periods; Templeton India Pension Plan - Growth for one- and five-years; Franklin Global Real Estate Fund for one-year, Franklin U.S. Opportunities Fund for five-years; and Franklin Pharma Fund - Growth for five-years.

The Lipper Fund Awards are awarded to funds in 21 countries in Asia, Europe, and the Americas. Lipper designates award-winning funds in most individual classifications for the one-, three-, five-, and 10-year periods.

The branch of Franklin Templeton Investment Management Limited in Dubai is authorized and regulated in the UK by the Financial Services Authority and regulated in Dubai by the Dubai Financial Services Authority.