Michael Barth Joins Darby As Managing Director -- Global Investment

WASHINGTON, March 6 /PRNewswire/ --

Emerging markets investment firm Darby Overseas Investments, Ltd. (Darby), the private equity and mezzanine finance arm of Franklin Templeton Investments, announced that Michael Barth will join the senior management of the firm on March 15, 2006 as Managing Director -- Global Investment.

Mr. Barth has had a long and distinguished career in global emerging markets investing. In 2005, he completed his term of over five years as Chief Executive Officer of FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), the highly regarded Dutch finance institution specializing in emerging markets private investment.

As Managing Director -- Global Investment at Darby, Mr. Barth will carry the lead responsibility for further developing Darby's global investment operations. These responsibilities are integral to supporting Darby's strategy of broadening its offerings of investment products and services across the emerging markets. A key part of Darby's strategy and Mr. Barth's responsibilities is the development and launch of global emerging markets capital funds that utilize Darby's established presence in the major emerging market regions of Asia, Central/Eastern Europe, and Latin America. Mr. Barth will also play an important role in identifying and developing potential acquisitions on an opportunistic basis that will enhance Darby's global investment management platform, and in strengthening Darby's worldwide investor relations and fundraising efforts.

Richard H. Frank, Chief Executive Officer of Darby, commented: "We are very pleased that Michael has agreed to join Darby to lead these important strategic initiatives. Michael brings with him a wealth of knowledge and experience in emerging markets investment, and he has been one of the pioneers in developing the emerging markets asset class. Michael's background and responsibilities will enhance Darby's position as a leading provider of private equity and mezzanine finance in these markets and one of the foremost managers of emerging markets alternative investment strategies for our institutional and high net worth clients."

Mr. Barth commented: "I have long observed and respected Darby's disciplined yet innovative approach to emerging markets private equity and mezzanine investment, and have known the members of its senior management team for many years. I appreciate this unique opportunity to work with my new colleagues in reinforcing Darby's position as one of the leading global emerging markets private equity and mezzanine finance investment management firms."

In addition to his service as Chief Executive Officer of FMO, during the past two years Mr. Barth was also Chairman of the EDFI, the European association of private sector-oriented development banks. Prior to his tenure at FMO, he was Director, Capital Markets Development Department at the World Bank. Between 1982 and 1997, Mr. Barth worked at the International Finance Corp. (IFC), the private sector arm of the World Bank Group, where he was responsible for many innovative capital markets investments in Asia, Latin America, Eastern Europe and Africa. He pioneered the establishment of a number of emerging markets investment funds, and some of the first corporate equity and debt offerings -- by emerging market companies -- in the international capital markets. While at the IFC, he also served as Financial Controller. Previously, he held various management positions at Citibank/Citicorp. Mr. Barth holds a Masters Degree in International Economics/International Affairs from the John Hopkins University, School of Advanced International Studies and a Bachelor's Degree in Economics from Brandeis University. He is a member of the Board of Directors of EMPEA, the Emerging Markets Private Equity Association.

Darby Overseas Investments, Ltd. 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, and Darby investment teams. The San Mateo, California-based company has more than 50 years of investment experience and over US$480 billion in assets under management as of January 31, 2006. For more information, please visit http://franklintempleton.com. Darby, through its investment teams located throughout Asia, Central and Eastern Europe and Latin America, is the specialized private equity and mezzanine finance investment management operation within the Franklin Templeton family of companies. For more information, please visit http://www.darbyoverseas.com.

Contacts: Nigel Adam, Compton Consulting: +1-617-451-2030 Bill Weeks, Franklin Templeton: +1-212-632-3204 Website: http://www.darbyoverseas.com http://franklintempleton.com