Letter to Shareholders

Templeton Emerging Markets IT PLC
22 March 2007



                TEMPLETON EMERGING MARKETS INVESTMENT TRUST PLC
                                (The 'Company')


The following is the text of a letter being posted to shareholders today.


"Dear Shareholder

Update on Consultation with Shareholders

You will know that the Board has been conducting a consultation exercise with
its shareholders about the level of discount on the Company's shares and
possible methods of addressing this discount.  The Board has also taken advice
from its advisors ING and UBS.

The extensive consultation with shareholders was achieved in three ways. First
we made direct contact with all the Company's major shareholders.  Many gave
time to meet with me and one or more of my Board colleagues face to face. Some
comments were also given to the Board through the Company's brokers.  Secondly,
a number of you were good enough to attend a public meeting in London when you
let us have your views.  Thirdly, a number of you who were unable to attend the
public meeting wrote to me either in letter form or by e-mail.  All this
communication has been invaluable to us in our deliberations.  In total, contact
was made with some two thirds of the share register and I personally saw or
spoke to shareholders representing over 57% of the Company's register.

As you might expect a range of views emerged but the principal themes were:

1.   A majority of shareholders wanted the Company to introduce discount
     control measures in some form and to use its existing buy back powers more
     extensively.

2.   A majority of shareholders valued the liquidity of the Company's shares
     in the market and did not want that compromised.

3.   Shareholders wanted the Company to continue as an investment trust.

4.   A majority of shareholders did not perceive investment performance to be
     a key issue in the Board's consideration of discount control.

After reflecting upon shareholder views and having conducted a detailed review
of all the options with our advisors, the Board has decided to bring forward
proposals which will provide those shareholders who wish to dispose of a
proportion of their shares with an opportunity to do so, but in a manner and at
a price which will not disadvantage those shareholders who wish to retain their
shares.  This will be accompanied by a more active use of the Company's buy back
powers.  Such proposals will be implemented in the interests of all shareholders
to enhance the NAV per share.

The Board's proposals will be subject to the preparation of detailed shareholder
documentation, and it is envisaged that the proposals  will require
shareholders' approval in a general meeting, as well as necessary regulatory
approvals.


The detailed terms of the proposals have yet to be finalised.  The Board intends
to write to shareholders again shortly.

                                Yours faithfully

                               Sir Ronald Hampel

                                   Chairman"


ENQUIRIES:

ING Corporate Finance:                  [phone]

Nicholas Gold

William Marle


Franklin Templeton Investments:

Client Dealer Services Freephone        0800 305 306 or [phone]

Sara MacIntosh                          [phone]



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