Net Asset Value & Top 10 Hldg

Templeton Emerging Markets IT PLC
03 March 2005






           Templeton Emerging Markets Investment Trust PLC ("TEMIT")

On behalf of TEMIT, Franklin Templeton Investment Management Limited reports the
unaudited net asset value ("NAV") of TEMIT Shares at 28th February 2005 are as
follows: -

NAV          216.97 pence (Cum-Income)
NAV          215.38 pence (Ex-Income)

TEMIT's investment in emerging markets was: -

                                                                  % of total
                                                                  assets
LATIN AMERICA
---------------
Brazil (including US listings)                                           12.68
Mexico (including US listings)                                            1.94
Peru                                                                      0.17

ASIA
------
South Korea                                                              16.76
China - Hong Kong                                                        13.39
Thailand                                                                  8.70
Taiwan                                                                    5.54
Singapore (including HK listings)                                         3.63
India                                                                     2.96
Malaysia                                                                  0.82
Philippines                                                               0.74
China                                                                     0.70
Indonesia                                                                 0.39
Japan                                                                     0.08

EUROPE
--------
Hungary                                                                   6.55
Poland                                                                    3.08
Greece                                                                    1.93
Austria                                                                   1.52
Croatia                                                                   1.47
Czech Republic                                                            0.85
United Kingdom                                                            0.51
Russia (including US listings)                                            0.43
Sweden                                                                    0.17

AFRICA (SUB-SAHARA)
---------------------
South Africa                                                              5.63
                                                                           ---

MIDDLE EAST
-------------

Turkey                                                                    7.53
Egypt                                                                     1.03

OTHER
-------


TEMIT's current total of liquid investments, cash and
other liabilities was:-                                                   0.80

                                                                        100.00
                                                                        --------
As at 28th February 2005 TEMIT did not have any holdings in other
Investment Companies                                                         
                                                                             
Date 3rd March 2005
                                                                             






           Templeton Emerging Markets Investment Trust PLC ("TEMIT")

On behalf of TEMIT, Franklin Templeton Investment Management Limited reports at
28th February 2005, TEMIT's investment by industry class was: -

                                                                      % of total
                                                                        assets

Diversified Banks                                                        17.98
Oil & Gas Refining & Marketing                                           15.46
Integrated Oil & Gas                                                      7.69
Electric Utilities                                                        5.85
Pharmaceuticals                                                           4.52
Tobacco                                                                   3.45
Food Retail                                                               3.39
Construction & Engineering                                                2.97
Marine Ports & Services                                                   2.96
Commodity Chemicals                                                       2.71
Wireless Telecommunication Services                                       2.55
Industrial Conglomerates                                                  2.48
Steel                                                                     2.36
Construction Materials                                                    1.98
Semiconductors                                                            1.88
Packaged Foods & Meats                                                    1.83
Paper Products                                                            1.80
Brewers                                                                   1.76
Casinos & Gaming                                                          1.72
Integrated Telecommunication Services                                     1.68
Computer Storage & Peripherals                                            1.24
Soft Drinks                                                               1.18
Oil & Gas Exploration & Production                                        1.05
Diversified Metals & Mining                                               0.92
Construction & Farm Machinery                                             0.81
Automobile Manufacturers                                                  0.80
Life & Health Insurance                                                   0.76
Aluminium                                                                 0.70
Household Products                                                        0.65
Household Appliances                                                      0.57
Consumer Finance                                                          0.51
Gas Utilities                                                             0.51
Real Estate Management & Development                                      0.42
Metal & Glass Containers                                                  0.41
Apparel Accessories & Luxury Goods                                        0.34
Building Products                                                         0.27
Real Estate Investment Trusts                                             0.23
Diversified Chemicals                                                     0.21
Airlines                                                                  0.19
Personal Products                                                         0.17
Office Electronics                                                        0.10
Consumer Electronics                                                      0.08
Distributors                                                              0.06

TEMIT's current total of liquid investments, cash and
other liabilities was:-                                                   0.80

Date: 3rd March 2005                                                    100.00
                                                                        --------





           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 28th February as follows: -

Country    Security                        Industry              % Of total net
                                                                 assets
Korea      SK Corp.                        Oil & Gas Refining &           3.99
(South)                                    Marketing
Turkey     Akbank                          Diversified Banks              3.65
Hungary    Mol Magyar Olaj-Es Gazipari     Oil & Gas Refining &           3.50
           RT                              Marketing
Brazil     Unibanco Uniao de Bancos        Diversified Banks              3.23
           Brasileiros SA, GDR
China -    China Petroleum & Chemical      Integrated Oil &               3.15
HK         Corp., H                        Gas
Brazil     Banco Bradesco SA, ADR, pfd.    Diversified Banks              3.09
Poland     Polski Koncern Naftowy Orlen    Oil & Gas Refining &           3.08
           SA                              Marketing
Hungary    Gedeon Richter Ltd.             Pharmaceuticals                3.05
China -    PetroChina Co. Ltd., H          Integrated Oil &               3.03
HK                                         Gas
Korea      Hyundai Development Co.         Construction &                 2.97
(South)                                    Engineering

Date: 3rd March 2005

End of Announcement.

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.




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