RNS Number:4257U
Templeton Emerging Markets IT PLC
20 January 2004


Templeton Emerging Markets Investment Trust PLC ("TEMIT")

On behalf of TEMIT, Franklin Templeton Investment Management Limited reports the
unaudited net asset value ("NAV") of TEMIT as at 16th January 2004 as follows:-

Undiluted NAV (Warrants Unexercised)                 178.58 (Cum-Income)
Fully Diluted NAV (Warrants Exercised)               170.88 (Cum-Income)

Undiluted NAV (Warrants Unexercised)                 176.41 (Ex-Income)
Fully Diluted NAV (Warrants Exercised)               169.07 (Ex-Income)

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.

End of Announcement.



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