RNS NO 8078T
TEMPLETON CENTRAL AND EASTERN EUROPEAN INVESTMENT COMPANY
1st July 1997


Templeton Central and Eastern European Investment Company ("TCEEIC")
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On behalf of TCEEIC, Templeton Investment Management Limited reports the
unaudited Net Asset Value ("NAV") as at 30 June 1997 as follows:-

Undiluted NAV (Warrants unexercised)       US$5.14
Fully diluted NAV (Warrants exercised)     US$5.12

For further information please contact Ken Nicholson, Templeton Investment
Management Limited (Tel:  0131.469.4000)

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