Darby Closes EUR 300 Million (US $411 Million) Central Europe Mezzanine Fund

Darby Overseas Investments, Ltd. ("Darby"), the private equity arm
of Franklin Templeton Investments, announced that its Darby Converging
Europe Mezzanine Fund (DCEMF) has closed to new investors with total
capital commitments of EUR 248 million (US $340 million).

After the expected refinancing of a EUR 65 million (US $89
million) bridge loan, the final size of the Fund is expected to exceed
EUR 300 million (US $411 million), making it the largest dedicated
source of mezzanine finance in Central and Eastern Europe. DCEMF
extends mezzanine loans in CEE countries that are already part of the
European Union as well as those aiming for membership in the future.

"Now that DCEMF is fully funded we look forward to deploying more
capital in what we believe is a highly attractive market for
mezzanine, and its unique role in supporting expansion and
acquisitions," said Darby Chief Executive Officer, Richard H. Frank.
"These countries have a favorable investment climate due to continuing
superior economic growth, spurred in part by the ongoing process of
convergence with and integration into the EU."

DCEMF has so far made five investments totaling EUR 64 million (US
$88 million). Its most recent was a EUR 20 million (US $27 million)
commitment to a leveraged buyout of DDSG Cargo Group, a leading river
transportation company based in Vienna. Robert D. Graffam, Darby's
Senior Managing Director - Europe, commented: "Within our target
region, which stretches from the Baltics to Turkey, we continue to
pursue opportunities to provide risk capital to companies active in a
broad range of sectors and sponsored by either financial investors or
local entrepreneurs."

Darby has played a pioneering role in bringing mezzanine - a
hybrid of both debt and equity - to emerging market regions, initially
Latin America, then to Asia and more recently to CEE. DCEMF has also
invested in AS Rigas Piensaimniekes, a major dairy products concern in
Latvia; UNO, the leading industrial bakery in Turkey; Ceske
Radiokomunikace, the dominant broadcast and leading alternative
telecommunications services provider in the Czech Republic; and
FiberNet Group, one of the top CEE cable television operators,
offering cable television, broadband internet and telephony services
with a focus on Hungary, Bulgaria and Ukraine

Darby Overseas Investments was founded in 1994 by The Honorable
Nicholas F. Brady, who served as U.S. Secretary of the Treasury
between 1988 and 1993. In 2003 Darby became a fully owned subsidiary
of Franklin Resources, Inc. (NYSE:BEN), a global investment management
organization operating as Franklin Templeton Investments. Franklin
Templeton Institutional, part of Franklin Templeton Investments,
provides global and domestic investment management solutions managed
by the Franklin Global Advisers, Templeton, Franklin Templeton Fixed
Income, Franklin Templeton Real Estate Advisors, Darby, and Mutual
Series investment management teams. The San Mateo, California-based
company has 60 years of investment experience and US$621.5 billion in
assets under management as of July 31, 2007.