Response to City of London

Templeton Emerging Markets IT PLC
06 December 2006


Announcement



TEMPLETON EMERGING MARKETS INVESTMENT TRUST PLC ("TEMIT")


On behalf of TEMIT, Franklin Templeton Investment Management Limited make the
following announcement:-


The Board of Templeton Emerging Markets Investment Trust PLC ("TEMIT") has
considered the letter sent to the Chairman by City of London on 30th November
2006 which was immediately made public by it. The various discussions with City
of London over the past three months have focussed on TEMIT's discount to net
asset value and the appropriateness of introducing discount control measures.
Consultation with other shareholders on this subject has produced a divergence
of views.


The Board intends over the next few weeks to undertake a wide shareholder
consultation both on this issue and on the other matters raised in the City of
London letter, many of which had not been previously raised with the Board.


For information, please contact Franklin Templeton Investment Management Limited
on 0207 073 8500 (David Smart for institutional shareholder enquiries and Jamie
Hammond for retail shareholder enquiries) or contact Joe Winkley at UBS Limited
on 0207 567 8000. No representation or warranty is made by UBS Limited as to the
accuracy or completeness of the information contained in this announcement and
no liability will be accepted for any loss arising from its use.


End of Announcement.



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