Top Ten Holdings

Templeton Emerging Markets IT PLC
02 April 2004


           Templeton Emerging Markets Investment Trust PLC ("TEMIT")

On behalf of TEMIT, Franklin Templeton Investment Management Limited reports the
Top Ten Holdings in TEMIT as at 31st March 2004 as follows: -

Country    Security                        Industry              % Of total net
                                                                 assets
China      China Petroleum & Chemical      Integrated Oil &               5.57
           Corp., H                        Gas
Turkey     Akbank                          Diversified Banks              3.76
Korea      SK Corp.                        Oil & Gas Refining &           3.47
(South)                                    Marketing
Hungary    Gedeon Richter Ltd.             Pharmaceuticals                3.17
Brazil     Unibanco Uniao de Bancos        Diversified Banks              3.16
           Brasileiros SA, GDR
Thailand   Siam Commercial Bank, 5.25%,    Diversified Banks              2.80
           cvt. pfd., fgn.
Korea      Hyundai Development Co.         Construction &                 2.42
(South)                                    Engineering
Brazil     Banco Bradesco SA, ADR, pfd.    Diversified Banks              2.35
Hong       Dairy Farm International        Food Retail                    2.34
Kong       Holdings Ltd.
Brazil     Centrais Eletricas Brasileiras  Electric Utilities             2.26
           SA

For information please contact David Bliss/Will Rogers at UBS Limited (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. These figures have
been prepared by Franklin Templeton Investments and are their sole
responsibility.

Date: 2nd April 2004

End of Announcement.




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