Templeton Emerging Markets Income Fund

Templeton Emerging Markets Income Fund (the Fund) is a closed-end management investment company. The Fund seeks high, current income, with a secondary goal of capital appreciation, by investing under normal market conditions, at least 80% of its net assets in income-producing securities of sovereign or sovereign-related entities and private sector companies in emerging market countries. For purposes of the Fund's 80% policy, income- producing securities of entities in emerging markets include derivative instruments or other investments that have economic characteristics similar to such securities. The Fund invests selectively in bonds from emerging markets around the world to generate income for the Fund, seeking opportunities while monitoring changes in interest rates, currency exchange rates and credit risk. The Fund's portfolio composition includes foreign government and agency securities, corporate bonds and common stocks. The Fund's investment manager is Franklin Advisers, Inc.