Application of Shares

Templeton Emerging Markets IT PLC
12 October 2000


FOR IMMEDIATE RELEASE

12 OCTOBER 2000


               Templeton Emerging Markets Investment Trust Plc

Pursuant to the above-named Company's Exercise of Warrants, application has
today been made to the London Stock Exchange and the UK Listing Authority for
38,947 Ordinary Shares of 25 pence each to be admitted to the official list.

Copies of this announcement are available from The Company Announcements
Office of the London Stock Exchange for the period of 2 business days from the
date hereof and from the Registered Office for the period of 14 days from the
date hereof.

For further information contact Jim Sharp, Franklin Templeton Investment
Management Limited, Telephone [phone]; Melville Trimble, Merrill Lynch
020 7772 1000.