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

    TORONTO, June 1 /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" and collectively, the "Limited Partnerships") announced
that each Limited Partnership has received the approval of its limited
partners at a special meeting of each of the Limited Partnerships
(collectively, the "Special Meetings") held today to approve the dissolution
of the Limited Partnerships by terminating their distribution agreements with
Franklin Templeton Investments Corp. ("FTIC") in exchange for a termination
payment from FTIC to each of the Limited Partnerships. Further details
regarding the termination payments for each of the Limited Partnerships can be
found in the Notice of Special Meetings and Management Information Circular
dated May 1, 2007 furnished to limited partners in respect of the Special
    The proceeds of the termination payment paid by FTIC to each of the
Limited Partnerships will be distributed to the limited partners of record as
of May 31, 2007, net of operating and dissolution expenses, on or about
June 15, 2007. Following payment of the distribution to the limited partners,
the Limited Partnerships will be dissolved.

    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$601 billion (C$667 billion) in assets under
management as of April 30, 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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