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Franklin Templeton Limited Duration Income Trust Reports Asset Allocation.

SAN MATEO, Calif. -- Franklin Templeton Limited Duration Income Trust (AMEX:FTF), a closed-end investment company managed by Franklin Advisers, Inc., today reported its portfolio composition, certain portfolio characteristics and AMEX closing price as of July 31, 2006.

Franklin Advisers, Inc., is a wholly owned subsidiary of Franklin Resources, Inc. (NYSE:BEN), a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has more than 50 years of investment experience and over $494 billion in assets under management as of July 31, 2006. For more information, please call 1-800/DIAL BEN(R) or visit franklintempleton.com.
FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST ASSET ALLOCATION at
July 31, 2006
======================================================================

 MARKET
 VALUE PERCENTAGE
SECTOR ALLOCATION (Millions) OF FUND(1)
--------------------------------- ---------- ----------
High Yield Corporate Bonds $183.0 32.5%
Floating Rate Loans $194.5 34.6%
Mortgage-Backed Securities $119.1 21.2%
Other Asset Backed Securities $33.1 5.9%
International Government Bonds
 (US$ and non-US$) $20.0 3.6%
Investment Grade Corporate Bonds $4.2 0.7%
Cash & Other Net Assets $8.2 1.5%
 ---------- ----------
Total Assets (6) $562.1 100.0%
======================================================================

 MARKET
 VALUE PERCENTAGE
TOP 10 INDUSTRIES (2) (Millions) OF FUND(1)
--------------------------------- ---------- ----------
Media $34.5 6.1%
Telecom $30.9 5.5%
Healthcare Services $27.0 4.8%
Industrial $23.7 4.2%
Pay TV $23.0 4.1%
Consumer Products $20.1 3.6%
Chemicals $18.7 3.3%
Gaming/Leisure $18.7 3.3%
Food & Beverage $18.7 3.3%
Utilities $17.5 3.1%
 ---------- ----------
Total (6) $232.8 41.4%
======================================================================

 MARKET
 VALUE PERCENTAGE
10 LARGEST HOLDINGS BY ISSUER (Millions) OF FUND(1)
--------------------------------- ---------- ----------

Freddie Mac $52.4 9.3%
Fannie Mae $49.7 8.8%
Govt National Mtg Assn $17.0 3.0%
Intelsat Bermuda Ltd. $10.4 1.9%
R.H. Donnelley Inc. $8.5 1.5%
Nalco Company $7.3 1.3%
NRG Energy Inc. $7.1 1.3%
Sungard Data Systems $7.0 1.3%
Morgan Stanley ABS Capital $6.6 1.2%
Fresenius Medical Care Cap Pfd. $6.5 1.1%
 ---------- ----------
Total (6) $172.5 30.7%
======================================================================

Number of positions 310
NAV per share $13.92
Market price per share $12.75
Number of shares outstanding 26,739,511
Total net assets $372,128,710

Weighted average duration
 (including leverage) (3) 3 years
Weighted average credit
 quality (4) Baa3
Fund leverage percentage (5) 34%


(1) Percentage of total investments of the Fund. Total investments of
 the Fund include long-term and short-term investments and other
 net assets, excluding preferred stock issued.
(2) Top 10 industries for corporate bonds and floating rate loans.
(3) Duration calculated using internal methodologies.
(4) For securities with multiple ratings, highest rating is used.
(5) Preferred shares issued by the Fund divided by total assets of the
 Fund.
(6) Total figures may not represent exact sum of items as a result of
 rounding.
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Comment:Franklin Templeton Limited Duration Income Trust Reports Asset Allocation.
Publication:Business Wire
Geographic Code:1USA
Date:Sep 1, 2006
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