Templeton Russia and East European Fund, Inc. ("TRF") Announces Distribution

Templeton Russia and East European Fund, Inc.

(NYSE: TRF) today announced a total distribution of $0.2246, comprised of net investment income of $0.1573 per share, short-term capital gains distribution of $0.008 per share and long-term capital gains distribution of $0.0593 per share, payable on December 31, 2012 to shareholders of record on December 14, 2012 (Ex-Dividend Date: December 12, 2012).

The Fund's investment manager, Templeton Asset Management Ltd., is an indirect, wholly owned subsidiary of Franklin Resources, Inc. (NYSE: BEN), a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $753 billion in assets under management as of October 31, 2012. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.