AGM Statement

RNS Number:9129P
Templeton Emerging Markets IT PLC
18 September 2003





TEMIT Announcement


Templeton Emerging Markets Investment Trust plc ("the Company") announces that
at its Annual General Meeting held today, Thursday 18 September 2003, all of the
resolutions set out in the Notice of the Meeting were passed by the requisite
majority.


At the Meeting, Nicholas F. Brady, Chairman, announced that the Board had been
discussing, along with other Investment Trust Boards, corporate governance. The
Board had taken note of the AITC guidelines. Also, it had made strong
representations to the Financial Services Authority on its consultation paper
and would, of course, comply with the new listing rules when these come into
effect. The Board intends to add additional independent Directors who will
ensure that the Board continues to represent a world-wide view and have
experience in the specialised markets in which the Company invests. The overall
number of Directors is expected to continue as no more than 8. These changes
will be implemented by the end of 2003.


Nicholas F. Brady also announced his intention to resign as Chairman following
the sale of his firm, Darby Overseas Investments, Ltd., to Franklin Resources,
Inc. (the parent company of the manager of the Company). The expected closing
date of the sale is 1 October 2003. With effect from 1 October 2003 the Board
has elected Sir Richard Brooke, Bt. to assume the role of Chairman and Sir Brian
Williamson CBE as Deputy Chairman.



For information please contact David Bliss/Will Rogers at UBS Ltd (0207 567
8000). No representation or warranty is made by UBS Ltd 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.


End of Announcement






                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
AGMNKFKDBBKDNCD