5 trillion in assets under custody and $1. DURATION 3.0 %
--------------------------------- -----------------------------------
INDO RUPIAH 5.9% INDONESIA 5.6% RUSSIA 2.5%
MEXICO 1. Emerging markets involve
heightened risks related to the same factors, in addition to those
associated with their relatively small size and lesser liquidity.

(a) EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

arts indonesia

COUPON 6 .8%
SINGAPORE DOLLAR 0.8%
CANADIAN DOLLAR 5.

taiwan tobago

states, Haiti and the
Cayman Islands, following a series of hurricanes that caused extensive
damage in the region last fall.8 %
AUSTRALIA/NEW -----------------------------------
ZEALAND 12.

serbia korea

(NYSE:BEN), a global investment management
organization operating as Franklin Templeton Investments.5%
SWEDISH KRONA 9.1%
--------------------------------- SLOVAK REPUBLIC 4.2%
VENEZUELA 3.

elsewhere tobago

Each year , the company directs a portion of its pre-tax
profits to the State Street Foundation, which funds the Global
Philanthropy Program, in order to help address community needs.3% GERMANY 1.3% GREECE 0.8%
------- ----------------------------
BRAZIL 0.0 %
-----------------------------------

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).

subcategories entertainment

The program contributed to nonprofit organizations that provide
community service initiatives in four primary focus areas: education
and job skills training (146 grants totaling more than $3 million);
health and human needs (178 grants totaling more than $3. For more
information , please call 1-800/DIAL BEN(R) (1-800-342-5236) or visit
franklintempleton.
EQUITY(a) 0.0% NEW ZEALAND 7.4% HUNGARY 1.3%
TOTAL 100.4%
UNITED STATES 1.

china asia

Included in this were grants totaling $275,000 from the program's
Disaster Relief Emergency Assistance Fund , which supported relief
efforts in Florida, several Southeastern U.9%
UNITED KINGDOM 0.1%
PERU 0.

malaysia serbia

State Street Global Philanthropy Program Reports 2004 Grants of More than US$9.3 Million

56 yrs.7% AUSTRALIA 5.8%
----------- ------------------------
CANADA 5.

asia tobago

Business Editors

BOSTON----State Street Corporation
(NYSE: STT), the world's leading provider of services to institutional
investors, announced today that its Global Philanthropy Program made
528 grants totaling more than US$9.
State Street's Global Philanthropy Program had 29 individual
contribution committees in 18 countries in 2004, including Australia,
Belgium, Canada, Cayman Islands, France, Germany, Ireland, Italy,
Japan, Luxembourg, People's Republic of China (Hong Kong SAR),
Singapore, South Africa, South Korea, Switzerland, Taiwan, the United
Kingdom, and the U .

Templeton Releases Closed-End Fund Portfolio Allocation Update

6%
THAILAND BAHT 5.5%
POLAND ZLOTY 6.4% POLAND 6. The Fund's portfolio is actively
managed and investment allocations can be expected to change.

performing ireland

7%
-------------------- ------------- THAILAND 5.0% DENMARK 1.2%
NORWEGIAN KRONE 3.

serbia indonesia

The program also supported select arts and cultural
initiatives (30 grants totaling more than $500,000) along with civic
improvements (10 grants totaling more than $90,000 ).7% WEIGHTED AVG.4%
UKRAINE 2.

malaysia belgium

About State Street Corporation

State Street Corporation (NYSE: STT) is the world's leading
specialist in providing institutional investors with investment
servicing, investment management and investment research and trading.

TEMPLETON GLOBAL INCOME FUND
AS OF JANUARY 31, 2005
TOTAL NET ASSETS: $1,227,001,596
NET ASSET VALUE PER SHARE: $9.
------------- WEIGHTED AVG.1% AUSTRIA 2.5% FINLAND 2.4%
-----------------------------------
TOTAL 100.

taiwan entertainment

With $9. For more information,
visit State Street's web site at www.6% SINGAPORE 0.

asia belgium

4 trillion in assets
under management as of December 31, 2004, State Street operates in 25
countries and more than 100 markets worldwide.----The
Templeton closed-end Fund referenced below, which trades on the New
York Stock Exchange, today released portfolio allocation update
containing the following information as of January 31, 2005:

Asset Allocation

Portfolio Characteristics

Net Currency Distribution

Country Distribution

To obtain a copy of the update, please contact Fund Information at
1-800-342-5236.3% WEIGHTED AVG.6%
-------- ------------------------- -----------------------------------
BRITISH POUND 0.4%
DANISH KRONE 1.

symbolic comprised

Templeton closed-end Fund:

Templeton Global Income Fund (NYSE:GIM)

The Fund's investment adviser is a subsidiary of Franklin
Resources, Inc.2% ASIA 28.3%
SOUTH KOREA WON 13.7%
HUNGARY FORINT 1.0% NETHERLANDS 0.5%
--------------------------------- NORWAY 3.0% SPAIN 2.1%
--------------------------------- SWEDEN 9.

comprised serbia

3 million in 2004, including
$595,000 in future commitments.S.statestreet .9%
MALAYSI RINGGIT 0.6%
--------------------------------- --------------------- --------------
AUSTRALIAN DLR 5.0%
SLOVAK KORUNA 4.

subcategories elsewhere

2 million ); and
neighborhood revitalization (45 grants totaling more than $1.com

Business Editors

FORT LAUDERDALE, Fla. The San Mateo, CA-based company
has more than 50 years of investment experience and over $415 billion
in assets under management as of February 28, 2005.9%
EURO MON UNIT 17. 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. You
may have a gain or loss when you sell your shares .

This category and its subcategories are comprised of symbolic links to elsewhere in the directory.

As such, no sites will be listed here.

malaysia zealand

In addition,
State Street awarded 16 grants totaling nearly $80,000 to charitable
organizations in honor of State Street volunteers and one grant of
$10,000 for management assistance.44

PERCENT
OF TOTAL
ASSET ALLOCATION NET ASSETS PORTFOLIO CHARACTERISTICS
-------------------------------- - -----------------------------------
CASH + OTHER 3. MATURITY 4 yrs.7% PHILIPPINES 1.6%
COLOMBIA 0.2%
-----------------------------------
NORTH AMERICA 6.

zimbabwe china

State Street granted an additional
$290,000 to 38 non-profit organizations to sponsor fund-raising
events.com.565%
100.7%
N ZEAL DOLLAR 7.3%
NORTH AMERICA 17. The information
provided is as of the date shown.

netherlands indonesia

S. Franklin
Templeton Investments provides global and domestic investment
management solutions managed by its Franklin, Templeton, Mutual Series
and Fiduciary Trust investment teams .0%
--------------------------------- -----------------------------------
EUROPE 44.2% EUROPE 46.8% FRANCE 1.

ireland arts

CREDIT QUALITY A+
FIXED INCOME 96.

zimbabwe korea

1 million);
youth programs (101 grants totaling more than $1.

korea zealand

3% MALAYSIA 0.7% BELGIUM 2.

zealand norway

0% WEIGHTED AVG.0%

PERCENT PERCENT
NET CURRENCY OF TOTAL OF TOTAL
DISTRIBUTION NET ASSETS COUNTRY DISTRIBUTION NET ASSETS
--------------------------------- -----------------------------------
ASIA 26.8% SOUTH KOREA 13.5%
-------------------------------- - IRISH REPUBLIC 1.3%
US DOLLAR 11.1%
-----------------------------------
LATIN AMERICA 5.4%
-----------------------------------
MID-EAST/AFRICA 0.

caribbean zimbabwe

2
million).6% AUSTRALIA/NEW ZEALAND 12.2%
-----------------------------------
SOUTH AFRICA 0.