Franklin Templeton Limited Duration Income Trust Reports Asset Allocation

SAN MATEO, CA--(Marketwire - June 1, 2009) - Franklin Templeton Limited Duration Income Trust (NYSE Amex: FTF), a closed-end investment company managed by Franklin Advisers, Inc., today reported its portfolio composition, certain portfolio characteristics and NYSE Amex closing price as of April 30, 2009.

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, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and approximately $421 billion in assets under management as of April 30, 2009. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

FRANKLIN TEMPLETON LIMITED DURATION INCOME TRUST ASSET ALLOCATION
 at April 30, 2009
==========================================================================
                               MARKET                          PERCENTAGE
SECTOR ALLOCATION              VALUE (Millions)                OF FUND (1)
-----------------------------  ----------------               ------------
High Yield Corporate Bonds &
 Preferred                                137.2                       31.3%
Floating Rate Loans                       144.1                       32.9%
Mortgage-Backed Securities                 99.2                       22.6%
Other Asset Backed Securities              24.0                        5.5%
Government Agency                           0.0                        0.0%
International Government
 Bonds (US$ and non-US$)                    2.7                        0.6%
Investment Grade Corporate
 Bonds & Preferred                         25.2                        5.7%
Cash & Other Net Assets                     5.7                        1.3%
                               ----------------               ------------
Total Assets (2)               $          438.2                      100.0%
==========================================================================
                               MARKET                          PERCENTAGE
TOP 10 INDUSTRIES (3)          VALUE (Millions)                OF FUND (1)
-----------------------------  ----------------               ------------
Healthcare Services                        42.5                       9.70%
Utilities                                  21.8                       4.97%
Energy                                     20.7                       4.72%
Pay TV                                     19.3                       4.40%
Info/Technology                            19.1                       4.36%
Food & Beverage                            18.6                       4.23%
Industrials                                18.3                       4.18%
Chemicals                                  17.8                       4.06%
Media                                      17.7                       4.04%
Financial Services                         16.5                       3.76%
                               ----------------               ------------
Total (2)                      $          212.1                       48.4%
==========================================================================
                               MARKET                          PERCENTAGE
10 LARGEST HOLDINGS BY ISSUER  VALUE (Millions)                OF FUND (1)
-----------------------------  ----------------               ------------
Freddie Mac                                45.5                       10.4%
Fannie Mae                                 44.9                       10.2%
Govt National Mtg Assn                      8.9                        2.0%
Sungard Data Systems                        7.0                        1.6%
Intelsat Corp.                              6.5                        1.5%
Aramark Corp.                               6.2                        1.4%
HCA Inc.                                    6.1                        1.4%
LB-UBS Commercial Mortgage                  5.6                        1.3%
NRG Energy Inc.                             5.1                        1.2%
Jarden Corp.                                5.0                        1.1%
                               ----------------               ------------
Total (2)                      $          140.7                       32.1%
==========================================================================
Number of positions                                       302
NAV per share                                   $       11.02
Market price per share                          $        9.55
Number of shares outstanding                       26,773,772
Total net assets                                $ 295,161,151

Weighted average duration
 (including leverage) (4)    3 years
Weighted average credit
 quality (5)                    Baa3
Fund leverage percentage (6)      33%

(1) Percentage of total investments of the Fund. Total investments of the
Fund include long-term and short-term investments and other net assets.
Does not include last day portfolio and shareholder trades.
(2) Total figures may not represent exact sum of items as a result of
rounding.
(3) Top 10 industries for corporate bonds and floating rate loans.
(4) Duration calculated using internal methodologies. Rounded to the
nearest year.
(5) For securities with multiple ratings, highest rating is used.
(6) Preferred shares issued by the Fund and mortgage dollar rolls used for
leverage divided by total assets of the Fund.

Contact Information: Contact: Franklin Templeton Investments Shareholders/Financial Advisors: (800) 342-5236 Media: (650) 312-2245