Top Ten Holdings

Templeton Emerging Markets IT PLC
02 July 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 30th June 2004 as follows: -

Country     Security                       Industry              % Of total net
                                                                 assets
China -     China Petroleum & Chemical     Integrated Oil &               5.62
HK          Corp., H                       Gas
Korea       SK Corp.                       Oil & Gas Refining &           4.03
(South)                                    Marketing
Turkey      Akbank                         Diversified Banks              3.45
Hungary     Gedeon Richter Ltd.            Pharmaceuticals                3.01
Singapore   Dairy Farm International       Food Retail                    2.98
            Holdings Ltd.
Thailand    Siam Commercial Bank, 5.25%,   Diversified Banks              2.95
            cvt. pfd., fgn.
Brazil      Unibanco Uniao de Bancos       Diversified Banks              2.72
            Brasileiros SA, GDR
Hungary     Mol Magyar Olaj-Es Gazipari    Oil & Gas Refining &           2.54
            RT                             Marketing
Poland      Polski Koncern Naftowy Orlen   Oil & Gas Refining &           2.52
            SA                             Marketing
Brazil      Banco Bradesco SA, ADR, pfd.   Diversified Banks              2.39

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 July 2004

End of Announcement.




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