PRESS RELEASE + #205;slandsbanki Becomes Glitnir -- Introduces New Global Brand

slandsbanki has changed its brand name
to Glitnir, at the same time adopting a new logo and appearance. Glitnir is listed
on the Iceland Stock Exchange (Kauphll slands) and has a market
capitalization of approximately EUR 3.glitnir.7% PHILIPPINES 1.6% AUSTRALIA/NEW ZEALAND 12.0%
SLOVAK KORUNA 4.4%
UNITED STATES 1.4%
-----------------------------------
TOTAL 100.

despite the fact that 83 percent of all mergers
fail .
For the full story and a photo, go to
http://www.

hardships icelandic

info/133924/R/1038793/168660. COUPON 6.4% POLAND 6.3%
US DOLLAR 11.0%
-----------------------------------


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).aspx?Story=30246

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owns BNbank , Glitnir bank, Glitnir
Securities, Glitnir Kapitalforvaltning, Glitnir Factoring and 50.com.565%
100.6%
--------------------------------- ------------------------ -----------
AUSTRALIAN DLR 5.3% GERMANY 1.

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About Glitnir:

Glitnir(GLITNIR, former slandsbanki,) is a leading Iceland-based financial
group that offers universal banking.0%

PERCENT PERCENT
NET CURRENCY OF TOTAL OF TOTAL
DISTRIBUTION NET ASSETS COUNTRY DISTRIBUTION NET ASSETS
--------------------------------- ------- ----------------------------
ASIA 26.2%
VENEZUELA 3.8%
---------------------- -------------
CANADA 5.
"Whether it is a small family owned business or Procter + Gamble
buying Gillette, companies that ignore culture clash are taking a real
risk," says Priscilla Standifer, director of people solutions at
Proudfoot Consulting. "Top employees may quit and join a competitor.medialinkfeatures.

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It has positive connotations
for Icelanders, contains an historical reference, is both Icelandic and
Nordic, is easy to pronounce in all the main languages involved and also
contains no unusual letters or accents. Glitnir is a leading global niche player in three industry
segments: seafood/food, sustainable energy and offshore supply
vessels/shipping.jpg

9%
MALAYSI RINGGIT 0.8% FRANCE 1.0% SPAIN 2.5%
MEXICO 1.

icelandic ethnicity

At Glitnir, all quarrels were
settled and those who came there were pardoned for their misdeeds.0%
--------------------------------- -----------------------------------
INDO RUPIAH 5.1% AUSTRIA 2.1%
PERU 0. In fact, mergers are 26
percent more likely to succeed if companies focus on cultural issues. To download copy and photos, please
visit http://www.

blonds scandinavian

Announcement of the new name was made on Saturday in
Reykjavk, at an event attended by about 1,000 of the company 's employees
in Iceland, Norway, Denmark, Luxembourg and the UK. Total assets at year-end
2005 were EUR 19.1 percent
of the Union Group. 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% INDONESIA 5.0% NEW ZEALAND 7.

cuisines nordic

The bank defines Iceland and
Norway as its domestic markets. Late in 2004, slandsbanki bought KredittBanken in Norway, and
shortly afterwards BNbank, the fourth-largest bank in Norway.0% WEIGHTED AVG.8%
-----------------------------------
BRAZIL 0. 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.
New research indicates that differences in corporate culture may
be a principle reason for merger failure. work balance and how
promotions are earned .

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"Brands must
reflect the environment in which they operate, and in our case we need a
name that can be used all over the world.7 billion. In Norway, Glitnir hf.2% ASIA 28 . Emerging markets involve
heightened risks related to the same factors, in addition to those
associated with their relatively small size and lesser liquidity. While paying too much for another company and failing to
research it thoroughly are often cited as the biggest reasons that
mergers fail, those explanations ignore a systemic problem.

norwegian palmerston

It also has operations in London,
Luxembourg and Copenhagen , and will be opening offices in Halifax in Canada
and Shanghai in China later this year. Ten years later, slandsbanki merged with
Fjrfestingabanki atvinnulfsins (FBA), which had been founded two years
earlier.6% SINGAPORE 0.7% AUSTRALIA 5.6%
-------- ------------------------- -----------------------------------
BRITISH POUND 0.7%
HUNGARY FORINT 1.5%
--------------------------------- IRISH REPUBLIC 1.0% NETHERLANDS 0.6% RUSSIA 2.1%
-------------- ------------------- SWEDEN 9.9%
UNITED KINGDOM 0.2%
-------------------------------- ---
NORTH AMERICA 6. The information
provided is as of the date shown.

(a) EQUITY INCLUDES CONVERTIBLE AND PREFERRED SECURITIES.

hardships expresses

Bjarni rmannsson, CEO, says this transformation called for a new brand
name for the company.is


Glitnir logo (gif)
http://hugin.info/133924/R/1038793/168662.

Templeton Releases Closed-End Fund Portfolio Allocation Update

5%
POLAND ZLOTY 6.4%
UKRAINE 2.

Multimedia Available: Why 83 Percent of Company Mergers Fail

Other areas of contention
can include different views of the life vs.

scandinavian revival

3 billion. Glitnir announced record profits of EUR 244
million for 2005.

Templeton closed-end Fund:

Templeton Global Income Fund (NYSE:GIM)

The Fund's investment adviser is a subsidiary of Franklin
Resources, Inc. MATURITY 4 yrs.9%
EURO MON UNIT 17.0% DENMARK 1.

norwegians stereotyped

The bank's home markets are Iceland
and Norway.
Glitnir is the sole owner of two banks in Norway (BNbank and Glitnir bank,
formerly KredittBanken) and Glitnir S.info/133924/R/1038793/168659.3% MALAYSIA 0.8%
AUSTRALIA/NEW -----------------------------------
ZEALAND 12.5%
--------------------------------- NORWAY 3.2%
-----------------------------------
SOUTH AFRICA 0. The Fund's portfolio is actively
managed and investment allocations can be expected to change.com

NOTE TO EDITORS: All copy and photography is available for free
and unrestricted use with Medialink Features (MF) dateline
attribution.

1872 vasa

For more information see: www. For more
information, please call 1-800/DIAL BEN(R) (1-800-342-5236) or visit
franklintempleton. CREDIT QUALITY A+
FIXED INCOME 96.
------------- WEIGHTED AVG.0%
--------------------------------- ---------------------------- -------
EUROPE 44.4%
DANISH KRONE 1.

viewpoint manawatu

Its
operations were taken over by the Fisheries Bank of Iceland (tvegsbankinn)
in 1930; in 1990 the Fisheries Bank merged with the Industrial Bank of
Iceland (Inaarbanki slands), the Commercial Bank of Iceland
(Verzlunarbanki slands) and the People's Bank (Alubankinn) to form a
new slandsbanki. The Bank had a record profit of EUR 244
million in 2005.8%
SINGAPORE DOLLAR 0.2% EUROPE 46.1%
--------------------------------- SLOVAK REPUBLIC 4.6%
COLOMBIA 0.

expresses blonds

(NYSE:BEN), a global investment management
organization operating as Franklin Templeton Investments.44

PERCENT
OF TOTAL
ASSET ALLOCATION NET ASSETS PORTFOLIO CHARACTERISTICS
-------------- ------------------- -----------------------------------
CASH + OTHER 3.7%
N ZEAL DOLLAR 7.4% HUNGARY 1."
What causes two companies' cultures to clash? There are a number
of factors, ranging from company structure to how things get done.

settled icelanders

"We now work in the international financial market,
and this means certain changes had to be made ," he says.8% SOUTH KOREA 13.5%
SWEDISH KRONA 9.com/home.medialinkfeatures .

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A.----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.

scandinavian icelandic

The bank's
subsidiaries and offices in five countries will also operate under the
Glitnir brand. DURATION 3.56 yrs.2%
NORWEGIAN KRONE 3.3% GREECE 0.3%
NORTH AMERICA 17.

1872 norwegians

7% WEIGHTED AVG.3%
SOUTH KOREA WON 13.

palmerston blonds

It has also
opened offices in Luxembourg, London and Copenhagen.

Business Editors

FORT LAUDERDALE , Fla.7% BELGIUM 2. You
may have a gain or loss when you sell your shares .
The quality of customer service declines and employee productivity
drops sharply.

expresses nordic

gif

BNbank logo (PDF)
http://hugin.pdf

Photo of Bjarni rmannsson, Chief Executive Officer, CEO, Glitnir
http://hugin.3% WEIGHTED AVG.

blonds norwegians

The Glitnir Group has 1200 employees. Franklin
Templeton Investments provides global and domestic investment
management solutions managed by its Franklin, Templeton, Mutual Series
and Fiduciary Trust investment teams.

TEMPLETON GLOBAL INCOME FUND
AS OF JANUARY 31, 2005
TOTAL NET ASSETS: $1,227,001,596
NET ASSET VALUE PER SHARE: $9.1%
-----------------------------------
LATIN AMERICA 5. One
company may be more bureaucratic and rules-oriented, while the other
is more freewheeling and entrepreneurial.

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We were in the unique position
of having a fine-sounding name , Glitnir, which is also a well known brand
in Iceland and which fits the bill exactly.

Glitnir 's history goes back to the foundation of slandsbanki in 1904.5% FINLAND 2.3 %
TOTAL 100.

icelanders revival

Extensive changes have taken place in the bank's operations in recent
years: it has evolved from an Icelandic bank into an international
financial company operating in five countries."

The new name derives from Norse mythology: Glitnir was the home of Forseti,
son of the divine pair Baldur and Nanna. In recent months it
has bought the securities brokerage Norse and a majority share in the
Norwegian real-estate brokerage Union, and also announced plans to open
offices in Canada and China. The bank has an office in Denmark and a branch in London . in Luxembourg.
EQUITY(a) 0.6%
THAILAND BAHT 5.7%
------ --------------------------- THAILAND 5.8%
CANADIAN DOLLAR 5.4 %
-----------------------------------
MID-EAST/AFRICA 0.

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---

- - kjjkjk

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