Top Ten Holdings

Templeton Emerging Markets IT PLC
05 January 2005



           Templeton Emerging Markets Investment Trust PLC ("TEMIT")

On behalf of TEMIT, Franklin Templeton Investment Management Limited reports the
Top Ten Holdings in TEMIT as at 31st December 2004 as follows: -

Country    Security                        Industry              % Of total net
                                                                      assets
China -    China Petroleum & Chemical      Integrated Oil &               4.38
HK         Corp., H                        Gas
Turkey     Akbank                          Diversified Banks              4.02
Korea      SK Corp.                        Oil & Gas Refining &           3.86
(South)                                    Marketing
Hungary    Mol Magyar Olaj-Es Gazipari     Oil & Gas Refining &           3.11
           RT                              Marketing
Brazil     Unibanco Uniao de Bancos        Diversified Banks              3.02
           Brasileiros SA, GDR
Korea      Hyundai Development Co.         Construction &                 2.95
(South)                                    Engineering
Hungary    Gedeon Richter Ltd.             Pharmaceuticals                2.77
Poland     Polski Koncern Naftowy Orlen    Oil & Gas Refining &           2.71
           SA                              Marketing
Brazil     Banco Bradesco SA, ADR, pfd.    Diversified Banks              2.70
China -    PetroChina Co. Ltd., H          Integrated Oil &               2.27
HK                                         Gas

For information please contact David Bliss/Will Rogers at UBS Limited (0207 567
8000). No representation or warranty is made by UBS Limited 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. These figures have
been prepared by Franklin Templeton Investments and are their sole
responsibility.

Date: 5th January 2005

End of Announcement.




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