Templeton Limited Partnership 1993, 1994, 1995, 1996 and 1997

    TORONTO, April 2 /CNW/ - The board of directors of Templeton Heritage
Limited, the general partner of Templeton Limited Partnership 1993, Templeton
Limited Partnership 1994, Templeton Limited Partnership 1995, Templeton
Limited Partnership 1996 and Templeton Limited Partnership 1997 (each, a
"Limited Partnership"), today announced its intention to recommend the
dissolution of the applicable Limited Partnership at the special meeting of
limited partners of each Limited Partnership currently scheduled to be held on
June 1, 2007 (the "Meeting"). Details of the date, time, location and record
date of the Meeting are as disclosed in the Notice of Meeting and Record Date
dated April 2, 2007.
    Among the matters taken into consideration by the board of directors of
the general partner of each Limited Partnership in arriving at its
recommendations were the limited marketability for their securities and
expected future increases in the cost burden to limited partners relative to
expected future revenue. In addition, the general partner has discussed the
amounts to be paid to each Limited Partnership on the termination of the
distribution agreement with an independent valuator. Further details regarding
the recommendations of the general partner, the proposed dissolution of the
Limited Partnerships and the opinions of the independent valuator will be set
out in an Information Circular to be mailed to limited partners in the coming
    The termination of the distribution agreements with Franklin Templeton
Investments Corp. under which the distribution fees that represent
substantially all of the assets of each Limited Partnership are paid and the
dissolution of each Limited Partnership are subject to the approval of the
limited partners by way of an affirmative vote of not less than 66 2/3% of the
votes cast by the limited partners at each Meeting. If approved by the limited
partners of a Limited Partnership, the dissolution of that Limited Partnership
is proposed to be effective on or about June 1, 2007.

    Franklin Templeton Investments Corp. is a wholly owned subsidiary of
Franklin Resources, Inc., a global investment organization operating as
Franklin Templeton Investments. In Canada, Franklin Templeton Investments
provides global and domestic investment advisory services to the Franklin,
Templeton, Bissett and Mutual Series funds and institutional accounts.
Franklin Templeton Investments Corp. has more than 700 employees providing
services to more than 1.8 million unitholder accounts and more than 200
pension funds, foundations and other institutional investors. Franklin
Templeton Investments Corp. can be found at www.franklintempleton.ca.

    Franklin Resources, Inc. (NYSE:  BEN), is a global investment management
organization operating as Franklin Templeton Investments. Franklin Templeton
Investments provides global and domestic investment management solutions
managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust
investment teams. The San Mateo, CA-based company has 60 years of investment
experience and more than US$564 billion (C$660 billion) in assets under
management as of February 28, 2007.

For further information:

For further information: Dennis Tew, Senior Vice President and Chief
Financial Officer, Franklin Templeton Investments Corp., (416) 957-6023

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