Director Shareholding

Templeton Emerging Markets IT PLC
26 September 2001

                                 SCHEDULE 11

         NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1) Name of company

     Templeton Emerging Markets Investment Trust PLC

2) Name of director

     Trevor Trefgarne

3) Please state whether notification indicates that it is in respect of
holding of the shareholder named in 2 above or in respect of a non-
beneficial interest or in the case of an individual holder if it is a
holding of that person's spouse or children under the age of 18 or in
respect of a non-beneficial interest

     Beneficial

4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them (if notified)

     Trevor Trefgarne

5) Please state whether notification relates to a person(s) connected
with the Director named in 2 above and identify the connected person(s)

     N/A

6) Please state the nature of the transaction. For PEP transactions
please indicate whether general/single co PEP and if discretionary/non
discretionary

     In connection with pension arrangements

7) Number of shares/amount of stock acquired

     N/A

8) Percentage of issued class

     N/A

9) Number of shares/amount of stock disposed

     1000

10) Percentage of issued class

     0.0002%

11) Class of security

     Ordinary 25p Shares

12) Price per share

     £0.89

13) Date of transaction

     25 September 2001

14) Date company informed

     25 September 2001

15) Total holding following this notification

     Nil

16) Total percentage holding of issued class following this notification

     Nil

If a director has been granted options by the company please complete the
following boxes

17) Date of grant

18) Period during which or date on which exercisable

19) Total amount paid (if any) for grant of the option

20) Description of shares or debentures involved: class, number

21) Exercise price (if fixed at time of grant) or indication that price
is to be fixed at time of exercise

22) Total number of shares or debentures over which options held
following this notification

23) Any additional information

     None

24) Name of contact and telephone number for queries

     Barbara McFarlane - 0131 242 4129

25) Name and signature of authorised company official responsible for
making this notification

     Barbara McFarlane - Company Secretarial Assistant for Franklin Templeton
     Investment Management PLC - Secretaries to Templeton Emerging Markets
     Investment Trust PLC

Date of Notification

     26 September 2001