SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Amendment No. ______________)

Filed by the Registrant /X/
Filed by a party other than the Registrant / /

Check the appropriate box:
/ / Preliminary proxy statement
/ / Confidential, for use of the Commission only (as permitted by
Rule 14a-6(e)(2))
/X/ Definitive proxy statement
/ / Definitive additional materials
/ / Soliciting material pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST
------------------------------------------------
(Name of Registrant as Specified in Its Charter)

------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of filing fee (Check the appropriate box):

/X/ No fee required.

/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.

(1) Title of each class of securities to which transactions applies:

(2) Aggregate number of securities to which transactions applies:

(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):

(4) Proposed maximum aggregate value of transaction:

(5) Total fee paid:

/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration
statement number, or the Form or Schedule and the date of its filing.

(1) Amount previously paid:

(2) Form, Schedule or Registration Statement No.:

(3) Filing party:

(4) Date filed:

FRANKLIN TEMPLETON LOGO GOES HERE

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST

IMPORTANT SHAREHOLDER INFORMATION

This document announces the date, time and location of the annual shareholders
meeting, identifies the proposals to be voted on at the meeting, and contains
your proxy statement and proxy card. A proxy card is, in essence, a ballot.
When you vote your proxy, it tells us how you wish to vote on important issues
relating to your fund. If you complete and sign the proxy, we'll vote it
exactly as you tell us. If you simply sign the proxy, we'll vote it in
accordance with the Trustees' recommendations on page 2.

We urge you to spend a few minutes with the proxy statement reviewing the
proposals at hand. Then, fill out your proxy card and return it to us. When
shareholders don't return their proxies in sufficient numbers, we have to incur
the expense of follow-up solicitations, which can cost your fund money. We want
to know how you would like to vote and welcome your comments. Please take a few
minutes with these materials and return your proxy to us. If you have any
questions, call the Fund Information Department at 1-800/DIAL BEN.

FRANKLIN TEMPLETON LOGO GOES HERE

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST

NOTICE OF 1998 ANNUAL MEETING OF SHAREHOLDERS

The Annual Meeting ("Meeting") of shareholders of Templeton Global Governments
Income Trust (the "Trust") will be held at 500 E. Broward Boulevard, 12th Floor,
Ft. Lauderdale, Florida 33394-3091 on Tuesday, February 17, 1998 at 10:00 A.M.
(EST).

During the Meeting, shareholders of the Trust will vote on three proposals:

1. The election of Trustees of the Trust to hold office for the terms
specified;

2. The ratification or rejection of the selection of McGladrey & Pullen, LLP as
independent auditors of the Trust for the fiscal year ending August 31,
1998; and

3. The transaction of any other business as may properly come before the
Meeting.

By order of the Board of Trustees,

Barbara J. Green,
Secretary
January 5, 1998

- --------------------------------------------------------------------------------
Many shareholders hold shares in more than one Templeton Fund and will
receive proxy material for each fund owned. Please sign and promptly return
each proxy card in the self-addressed envelope regardless of the number of
shares you own.
- --------------------------------------------------------------------------------

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST

PROXY STATEMENT

- INFORMATION ABOUT VOTING:

Who is eligible to vote?

Shareholders of record at the close of business on December 19, 1997 are
entitled to be present and to vote at the Meeting or any adjourned Meeting.
Each share of record is entitled to one vote on all matters presented at
the Meeting. The Notice of Meeting, the proxy, and the proxy statement were
mailed to shareholders of record on or about January 5, 1998.

On what issues am I being asked to vote?

You are being asked to vote on three proposals:

1. The election of four nominees to the position of Trustee;

2. The ratification or rejection of the selection of McGladrey & Pullen,
LLP as independent auditors of the Trust for the fiscal year ending
August 31, 1998; and

3. The transaction of any other business that may properly come before
the Meeting.

How do the Trust's Trustees recommend that I vote?

The Trustees unanimously recommend that you vote:

1. FOR the election of nominees;

2. FOR the ratification of the selection of McGladrey & Pullen, LLP as
independent auditors for the Trust; and

3. FOR the proxyholders to vote, in their discretion, on any other
business that may properly come before the Meeting.

How do I ensure that my vote is accurately recorded?

You may attend the Meeting and vote in person or you may complete and
return the attached proxy. Proxies that are properly signed, dated and
received prior to the meeting will be voted as specified. If you specify a
vote for any of the proposals 1 through 3, your proxy will be voted as you
indicated. If you simply sign and date the proxy, but don't specify a vote
for any of the proposals 1 through 3, your shares will be voted in favor of
the nominees for Trustee (proposal 1), in favor of ratifying the selection
of McGladrey & Pullen, LLP as independent auditors (proposal 2), and/or in
accordance with the discretion of the persons named in the proxy as to any
other matters (proposal 3).

Can I revoke my proxy?

You may revoke your proxy at any time before it is voted by (1) delivering
a written revocation to the Secretary of the Trust, (2) forwarding to the
Trust a later-dated proxy that is received by the Trust at or prior to the
meeting, or (3) attending the Meeting and voting in person.

- THE PROPOSALS:

1. ELECTION OF TRUSTEES:

How are nominees selected?

The Board of Trustees of the Trust (the "Board") established a Nominating
and Compensation Committee (the "Committee") consisting of Andrew H. Hines,
Jr., Edith E. Holiday and Gordon S. Macklin. The Committee is responsible
for the selection, nomination for appointment and election of candidates to
serve as Trustees of the Trust. The Committee will review shareholders'
nominations to fill vacancies on the Board, if these nominations are in
writing and addressed to the Committee at the Trust's offices. However, the
Committee expects to be able to identify from its own resources an ample
number of qualified candidates.

Who are the nominees and Trustees?

The Board is divided into three classes, and each year the term of office of
one class expires. Harris J. Ashton, Gordon S. Macklin, Andrew H. Hines, Jr.,
and S. Joseph Fortunato have been nominated for three-year terms, set to
expire at the 2001 Annual Meeting of Shareholders. These terms continue,
however, until successors are duly qualified and elected. All of the nominees
are currently members of the Board and all of the current Trustees are also
directors or trustees of other investment companies in the Franklin Group of
Funds(R) and the Templeton Group of Funds (the "Franklin Templeton Group of
Funds").

Certain nominees and Trustees of the Trust hold director and/or officer
positions with Franklin Resources, Inc. ("Resources") and its affiliates.
Resources is a publicly owned holding company, the principal shareholders
of which are Charles B. Johnson and Rupert H. Johnson, Jr. who own, as of
December 19, 1997, approximately 19% and 15% respectively, of its
outstanding shares. Resources is primarily engaged, through various
subsidiaries, in providing investment management, share distribution,
transfer agent and administrative services to a family of investment
companies. Resources is a New York Stock Exchange, Inc. ("NYSE") listed
holding company (NYSE: BEN). The Trust's investment manager and
administrator are indirect wholly-owned subsidiaries of Resources. There
are no family relationships among any of the Trustees or nominees for
Trustee other than Charles B. Johnson and Rupert H. Johnson, Jr., who are
brothers.

Each nominee is currently available and has consented to serve if elected.
If any of the nominees should become unavailable, the persons named in the
proxy will vote in their discretion for another person or other persons who
may be nominated as Trustees.

Listed below, for each nominee and Trustee, is a brief description of
recent professional experience as well as each person's ownership of shares
of the Trust and shares of all funds in the Franklin Templeton Group of
Funds:

Shares
Beneficially
Owned in the
Franklin
Trust Shares Templeton
Beneficially Owned Group of Funds
Principal Occupation and % of Total (including the
Name and Offices During Past Five Outstanding on Trust) as of
with the Trust Years and Age December 19, 1997 November 18, 1997
- ----------------------- ------------------------------------- -------------------- ------------------

Nominees to serve until 2001 Annual Meeting of Shareholders:

HARRIS J. ASHTON Director of RBC Holdings Inc. (a 500 (**) 304,319
Trustee since 1992 bank holding company) and Bar-S
Foods (a meat packing company);
formerly, chairman of the board,
president and chief executive
officer of General Host
Corporation (nursery and craft
centers); and director or trustee of
52 of the investment companies in
the Franklin Templeton Group of
Funds. Age 65.

Shares
Beneficially
Owned in the
Franklin
Trust Shares Templeton
Beneficially Owned Group of Funds
Principal Occupation and % of Total (including the
Name and Offices During Past Five Outstanding on Trust) as of
with the Trust Years and Age December 19, 1997 November 18, 1997
- ------------------------- ----------------------------------- -------------------- ------------------

GORDON S. MACKLIN Chairman of White River 2,000 (**) 229,733
Trustee since 1993 Corporation (financial services);
director of Fund American
Enterprises Holdings, Inc., MCI
Communications Corporation,
CCC Information Services Group,
Inc. (information services),
MedImmune, Inc. (biotechnology),
Shoppers Express (home
shopping) and Spacehab, Inc.
(aerospace services); formerly,
chairman of Hambrecht and Quist
Group, director of H&Q
Healthcare Investors and president
of the National Association of
Securities Dealers, Inc.; and
director or trustee of 51 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 69.

ANDREW H. HINES, JR. Consultant for the Triangle 163 (**) 33,992
Trustee since 1990 Consulting Group; executive-in-
residence of Eckerd College
(1991-present); formerly, chairman
of the board and chief executive
officer of Florida Progress
Corporation (1982-1990) and
director of various of its
subsidiaries; and director or
trustee of 24 of the investment
companies in the Franklin
Templeton Group of Funds.
Age 74.

Shares
Beneficially
Owned in the
Franklin
Trust Shares Templeton
Beneficially Owned Group of Funds
Principal Occupation and % of Total (including the
Name and Offices During Past Five Outstanding on Trust) as of
with the Trust Years and Age December 19, 1997 November 18, 1997
- ------------------------ -------------------------------------- -------------------- ------------------

S. JOSEPH FORTUNATO Member of the law firm of Pitney, 100 (**) 389,377
Trustee since 1992 Hardin, Kipp & Szuch; formerly,
director of General Host
Corporation (nursery and craft
centers); and director or trustee of
54 of the investment companies in
the Franklin Templeton Group of
Funds. Age 65.

Trustees serving until 2000 Annual Meeting of Shareholders:

BETTY P. KRAHMER Director or trustee of various civic 100 (**) 97,228
Trustee since 1990 associations; formerly, economic
analyst, U.S. government; and
director or trustee of 23 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 68.

NICHOLAS F. BRADY* Chairman of Templeton Emerging 0 23,314
Trustee since 1993 Markets Investment Trust PLC;
chairman of Templeton Latin
America Investment Trust PLC;
chairman of Darby Overseas
Investments, Ltd. and Darby
Emerging Markets Investments
LDC (investment firms)
(1994-present); chairman and
director of Templeton Central and
Eastern European Investment
Company; director of the
Templeton Global Strategy Funds;
director of Amerada Hess
Corporation, Christiana
Companies, and the H.J. Heinz
Company; formerly, Secretary of
the United States Department of
the Treasury (1988-1993) and
chairman of the board of Dillon,
Read & Co., Inc. (investment
banking) prior to 1988; and
director or trustee of 23 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 67.

Shares
Beneficially
Owned in the
Franklin
Trust Shares Templeton
Beneficially Owned Group of Funds
Principal Occupation and % of Total (including the
Name and Offices During Past Five Outstanding on Trust) as of
with the Trust Years and Age December 19, 1997 November 18, 1997
- ---------------------------------- ------------------------------------- -------------------- ------------------

CHARLES B. JOHNSON* President, chief executive officer 1,000(**) 2,391,567
Chairman of the Board and director of Franklin
since 1995 and Vice President Resources, Inc.; chairman of the
since 1992 board and director of Franklin
Advisers, Inc., Franklin Investment
Advisory Services, Inc., Franklin
Advisory Services, Inc. and
Franklin Templeton Distributors,
Inc.; director of Franklin/
Templeton Investor Services, Inc.
and Franklin Templeton Services,
Inc.; formerly, director of General
Host Corporation (nursery and
craft centers); and officer and/or
director or trustee, as the case may
be, of most of the other
subsidiaries of Franklin Resources,
Inc. and 53 of the investment
companies in the Franklin
Templeton Group of Funds. Age
64.

EDITH E. HOLIDAY Director (1993-present) of 0 1,542
Trustee since 1996 Amerada Hess Corporation and
Hercules Incorporated; director of
Beverly Enterprises, Inc.
(1995-present) and H.J. Heinz
Company (1994-present); formerly,
chairman (1995-1997) and trustee
(1993-1997) of National Child
Research Center; assistant to the
President of the United States and
Secretary of the Cabinet
(1990-1993), general counsel to the
United States Treasury
Department (1989-1990) and
counselor to the Secretary and
Assistant Secretary for Public
Affairs and Public Liaison--
United States Treasury
Department (1988-1989); and
director or trustee of 16 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 45.

Trustees serving until 1999 Annual Meeting of Shareholders:

FRED R. MILLSAPS Manager of personal investments 0 248,325
Trustee since 1990 (1978-present); director of various
business and nonprofit
organizations; formerly, chairman
and chief executive officer of
Landmark Banking Corporation
(1969-1978), financial vice
president of Florida Power and
Light (1965-1969), and vice
president of the Federal Reserve
Bank of Atlanta (1958-1965); and
director or trustee of 24 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 68.

JOHN WM. GALBRAITH President of Galbraith Properties, 1,000 (**) 1,191,853
Trustee since 1995 Inc. (personal investment
company); director of Gulf West
Banks, Inc. (bank holding
company) (1995-present); formerly,
director of Mercantile Bank
(1991-1995), vice chairman of
Templeton, Galbraith &
Hansberger Ltd. (1986-1992) and
chairman of Templeton Funds
Management, Inc. (1974-1991); and
director or trustee of 22 of the
investment companies in the
Franklin Templeton Group of
Funds. Age 76.

Shares
Beneficially
Owned in the
Franklin
Trust Shares Templeton
Beneficially Owned Group of Funds
Principal Occupation and % of Total (including the
Name and Offices During Past Five Outstanding on Trust) as of
with the Trust Years and Age December 19, 1997 November 18, 1997
- ------------------------------- ------------------------------------- -------------------- ------------------

RUPERT H. JOHNSON, JR.* Executive vice president and 0 16,257,479
Trustee and Vice President director of Franklin Resources,
since 1992 Inc. and Franklin Templeton
Distributors, Inc.; president and
director of Franklin Advisers, Inc.;
senior vice president and director
of Franklin Advisory Services, Inc.
and Franklin Investment Advisory
Services, Inc.; director of
Franklin/Templeton Investor
Services, Inc.; and officer and/or
director or trustee, as the case may
be, of most other subsidiaries of
Franklin Resources, Inc. and 57 of
the investment companies in the
Franklin Templeton Group of
Funds. Age 57.
<FN>
-------------------
* Nicholas F. Brady, Charles B. Johnson, and Rupert H. Johnson, Jr. are
"interested persons" as defined by the Investment Company Act of 1940 (the
"1940 Act"). The 1940 Act limits the percentage of interested persons that
comprise a fund's board of trustees. Charles B. Johnson and Rupert H.
Johnson, Jr. are interested persons due to their ownership interest in
Resources. Mr. Brady's status as an interested person results from his
business affiliations with Resources and Templeton Global Advisors
Limited. Mr. Brady and Resources are both limited partners of Darby
Overseas Partners, L.P. ("Darby Overseas"). Mr. Brady established Darby
Overseas in February 1994, and is Chairman and shareholder of Darby
Emerging Markets Investments LDC, which is the corporate general partner
of Darby Overseas. In addition, Darby Overseas and Templeton Global
Advisors Limited are limited partners of Darby Emerging Markets Fund, L.P.
The remaining nominees and Trustees of the Trust are not interested
persons (the "Independent Trustees").

** Less than 1%

</FN>

How often do the Trustees meet and what are they paid?

The Trustees generally meet quarterly to review the operations of the Trust
and other funds within the Franklin Templeton Group of Funds. Each fund
pays its Independent Directors and Mr. Brady an annual retainer and/or fees
for attendance at Board and Committee meetings. This compensation is based
on the level of assets in each fund. Accordingly, as of

the last scheduled meeting, the Trust paid the Independent Trustees and Mr.
Brady an annual retainer of $1,000 and a fee of $100 per meeting of the
Board and its portion of a flat fee of $2,000 for each Audit Committee
meeting and/or Nominating and Compensation Committee meeting attended.
Trustees are not compensated for any Nominating and Compensation Committee
meeting that is held in conjunction with a Board meeting. Independent
Trustees are reimbursed by the Trust for any expenses incurred in attending
Board and Committee meetings.

During the fiscal year ended August 31, 1997, there were four meetings of
the Board, one meeting of the Audit Committee, and one meeting of the
Nominating and Compensation Committee. Each of the Trustees then in office
attended at least 75% of the total number of meetings of the Board
throughout the year.

Certain Trustees and Officers of the Trust are shareholders of Resources
and may receive indirect remuneration due to their participation in
management fees and other fees received from the Franklin Templeton Group
of Funds by Templeton Investment Counsel, Inc., the Trust's investment
manager, and its affiliates. Templeton Investment Counsel, Inc. or its
affiliates pays the salaries and expenses of the Officers. No pension or
retirement benefits are accrued as part of Trust expenses.

The following table shows the compensation paid to Independent Trustees and
Mr. Brady by the Trust and by the Franklin Templeton Group of Funds:

Aggregate Number of Boards within the Total Compensation from
Compensation Franklin Templeton Group of the Franklin Templeton
Name of Trustee from the Trust* Funds on which Trustee Serves Group of Funds**
- ------------------------- ----------------- ------------------------------- ------------------------

Harris J. Ashton $1,400 52 $339,842
Andrew H. Hines, Jr. 1,408 24 144,175
Edith E. Holiday 1,400 16 72,875
Betty P. Krahmer 1,400 23 119,675
Fred R. Millsaps 1,408 24 144,175
S. Joseph Fortunato 1,400 54 356,762
Gordon S. Macklin 1,400 51 332,492
John Wm. Galbraith 1,408 22 117,675
Nicholas F. Brady 1,400 23 119,675

<FN>
--------------------
* For the fiscal year ended August 31, 1997.
** For the calendar year ended December 31, 1997.
</FN>

Who are the Executive Officers of the Trust?

Officers of the Trust are appointed by the Trustees and serve at the
pleasure of the Board. Listed below, for each Executive Officer, is a brief
description of recent professional experience:

Name and Offices Principal Occupation
with Trust During Past Five Years and Age
- ------------------------------------ ---------------------------------------------------------------

CHARLES B. JOHNSON See Proposal 1, "Election of Trustees."
Chairman of the Board since 1995
and Vice President since 1992

GREGORY E. McGOWAN Director and executive vice president of Templeton
President since 1996 Investment Counsel, Inc.; executive vice president-
international development and chief international general
counsel of Templeton Worldwide, Inc., executive vice
president, director and general counsel of Templeton
International, Inc.; executive vice president and secretary of
Templeton Global Advisors Limited; president of other
Templeton Funds; formerly, senior attorney for the U.S.
Securities and Exchange Commission; and an officer of 4 of
the investment companies in the Franklin Templeton Group
of Funds. Age 48.

SAMUEL J. FORESTER, JR. Vice president of 10 of the investment companies in the
Vice President since 1996 Franklin Templeton Group of Funds; formerly, president of
the Templeton Global Bond Managers, a division of
Templeton Investment Counsel, Inc.; founder and partner of
Forester, Hairston Investment Management (1989-1990),
managing director (Mid-East Region) of Merrill Lynch,
Pierce, Fenner & Smith Inc. (1987-1988) and advisor for
Saudi Arabian Monetary Agency (1982-1987). Age 49.

RUPERT H. JOHNSON, JR. See Proposal 1, "Election of Trustees."
Vice President since 1992

HARMON E. BURNS Executive vice president, secretary and director of Franklin
Vice President since 1996 Resources, Inc.; executive vice president and director of
Franklin Templeton Distributors, Inc. and Franklin
Templeton Services, Inc.; executive vice president of Franklin
Advisers, Inc.; director of Franklin/Templeton Investor
Services, Inc.; and officer and/or director or trustee, as the
case may be, of most of the other subsidiaries of Franklin
Resources, Inc. and 57 of the investment companies in the
Franklin Templeton Group of Funds. Age 52.

Name and Offices Principal Occupation
with Trust During Past Five Years and Age
- ------------------------------ -----------------------------------------------------------------

CHARLES E. JOHNSON Senior vice president and director of Franklin Resources, Inc.;
Vice President since 1996 senior vice president of Franklin Templeton Distributors,
Inc.; president and director of Templeton Worldwide, Inc.;
president, chief executive officer, chief investment officer and
director of Franklin Institutional Services Corporation;
chairman and director of Templeton Investment Counsel,
Inc.; vice president of Franklin Advisers, Inc.; officer and/or
director of some of the other subsidiaries of Franklin
Resources, Inc.; and officer and/or director or trustee, as the
case may be, of 37 of the investment companies in the
Franklin Templeton Group of Funds. Age 41.

DEBORAH R. GATZEK Senior vice president and general counsel of Franklin
Vice President since 1996 Resources, Inc.; senior vice president of Franklin Templeton
Services, Inc. and Franklin Templeton Distributors, Inc.; vice
president of Franklin Advisers, Inc. and Franklin Advisory
Services, Inc.; vice president, chief legal officer and chief
operating officer of Franklin Investment Advisory Services,
Inc.; and officer of 57 of the investment companies in the
Franklin Templeton Group of Funds. Age 49.

MARK G. HOLOWESKO President and chief investment officer of Templeton Global
Vice President since 1989 Advisors Limited; executive vice president and director of
Templeton Worldwide, Inc.; formerly, investment
administrator with RoyWest Trust Corporation (Bahamas)
Limited (1984-1985); and officer of 23 of the investment
companies in the Franklin Templeton Group of Funds.
Age 37.

MARTIN L. FLANAGAN Senior vice president and chief financial officer of Franklin
Vice President since 1989 Resources, Inc.; director and executive vice president
of Templeton Worldwide, Inc.; director, executive vice
president and chief operating officer of Templeton Investment
Counsel, Inc.; senior vice president and treasurer of Franklin
Advisers, Inc.; treasurer of Franklin Advisory Services, Inc.;
treasurer and chief financial officer of Franklin Investment
Advisory Services, Inc.; president of Franklin Templeton
Services, Inc.; senior vice president of Franklin/Templeton
Investor Services, Inc.; and officer and/or director or trustee,
as the case may be, of 57 of the investment companies in the
Franklin Templeton Group of Funds. Age 37.

Name and Offices Principal Occupation
with Trust During Past Five Years and Age
- ------------------------------ ---------------------------------------------------------------

NEIL S. DEVLIN Executive vice president and chief investment officer of
Vice President since 1993 Templeton Global Bond Managers, a division of Templeton
Investment Counsel, Inc.; formerly, portfolio manager and
bond analyst for Constitution Capital Management
(1985-1987), and a bond trader and research analyst for the
Bank of New England (1982-1985); and officer of 4 of the
investment companies in the Franklin Templeton Group of
Funds. Age 40.

JOHN R. KAY Vice president and treasurer of Templeton Worldwide, Inc.;
Vice President since 1994 assistant vice president of Franklin Templeton Distributors,
Inc.; formerly, vice president and controller of the Keystone
Group, Inc.; and officer of 27 of the investment companies in
the Franklin Templeton Group of Funds. Age 57.

ELIZABETH M. KNOBLOCK General counsel, secretary and a senior vice president of
Vice President-Compliance Templeton Investment Counsel, Inc.; senior vice president of
since 1996 Templeton Global Investors, Inc.; formerly, vice president and
associate general counsel of Kidder Peabody & Co. Inc.
(1989-1990), assistant general counsel of Gruntal & Co., Inc.
(1988), vice president and associate general counsel of
Shearson Lehman Hutton Inc. (1988), vice president and
assistant general counsel of E.F. Hutton & Co. Inc.
(1986-1988), and special counsel of the Division of Investment
Management of the U.S. Securities and Exchange
Commission (1984-1986); and officer of 23 of the investment
companies in the Franklin Templeton Group of Funds.
Age 42.

BARBARA J. GREEN Senior vice president of Templeton Worldwide, Inc.; senior
Secretary since 1996 vice president of Templeton Global Investors, Inc.; formerly,
deputy director of the Division of Investment Management,
executive assistant and senior advisor to the chairman,
counsellor to the chairman, special counsel and attorney
fellow, U.S. Securities and Exchange Commission (1986-1995),
attorney, Rogers & Wells, and judicial clerk, U.S. District
Court (District of Massachusetts); and secretary of 23 of the
investment companies in the Franklin Templeton Group of
Funds. Age 50.

Name and Offices Principal Occupation
with Trust During Past Five Years and Age
- ------------------------- --------------------------------------------------------------

JAMES R. BAIO Certified public accountant; treasurer of Franklin Mutual
Treasurer since 1994 Advisers, Inc.; senior vice president of Templeton Worldwide,
Inc., Templeton Global Investors, Inc. and Templeton Funds
Trust Company; formerly, senior tax manager with Ernst &
Young (certified public accountants) (1977-1989); and
treasurer of 24 of the investment companies in the Franklin
Templeton Group of Funds. Age 43.

2. RATIFICATION OR REJECTION OF INDEPENDENT AUDITORS:

How is an independent auditor selected?

The Board has a standing Audit Committee consisting of Messrs. Galbraith,
Hines, and Millsaps, all of whom are Independent Trustees. The Audit
Committee reviews generally the maintenance of the Trust's records and the
safekeeping arrangements of the Trust's custodian, reviews both the audit
and non-audit work of the Trust's independent auditors, and submits a
recommendation to the Board as to the selection of an independent auditor.

Which independent auditor did the Board of Trustees select?

For the current fiscal year, the Board selected as auditors the firm of
McGladrey & Pullen, LLP, 555 Fifth Avenue, New York, New York 10017.
McGladrey & Pullen, LLP has been the auditors of the Trust since its
inception in 1988, and has examined and reported on the fiscal year-end
financial statements dated August 31, 1997, and certain related Securities
and Exchange Commission filings. Neither the firm of McGladrey & Pullen,
LLP nor any of its members have any material direct or indirect financial
interest in the Trust.

Representatives of McGladrey & Pullen, LLP are not expected to be present
at the Meeting, but have been given the opportunity to make a statement if
they wish, and will be available should any matter arise requiring their
presence.

3. OTHER BUSINESS:

The Trustees know of no other business to be presented at the Meeting.
However, if any additional matters should be properly presented, proxies
will be voted as specified. Proxies reflecting no specification will be
voted in accordance with the judgment of the persons named in the proxy.

- INFORMATION ABOUT THE TRUST

The Trust's last audited financial statements and annual report, dated August
31, 1997, are available free of charge. To obtain a copy, please call
1-800/DIAL BEN or forward a written request to Franklin/Templeton Investor
Services, Inc., P.O. Box 33030, St. Petersburg, Florida 33733-8030.

As of December 19, 1997, the Trust had 22,842,821 shares outstanding and
net assets of $180,485,166. The Trust's shares are listed on the NYSE
(symbol: TGG). From time to time, the number of shares held in "street
name" accounts of various securities dealers for the benefit of their
clients may exceed 5% of the total shares outstanding. To the knowledge of
the Fund's management, as of December 19, 1997, there were no other
entities holding beneficially or of record more than 5% of the Fund's
outstanding shares.

In addition, to the knowledge of the Trust's management, as of December 19,
1997, no nominee or Trustee of the Trust owned 1% or more of the
outstanding shares of the Trust, and the Officers and Trustees of the Trust
owned, as a group, less than 1% of the outstanding shares of the Trust.

Section 16(a) Beneficial Ownership Reporting Compliance. U.S. securities
laws require that the Trust's shareholders owning more than 10% of
outstanding shares, Trustees and Officers, as well as affiliated persons of
its investment manager, report their ownership of the Trust's shares and
any changes in that ownership. During the fiscal year ended August 31,
1997, the filing dates for these reports were met. In making this
disclosure, the Trust relied upon the written representations of the
persons affected and copies of their relevant filings.

The Investment Manager. The investment manager of the Trust is Templeton
Global Bond Managers, a division of Templeton Investment Counsel, Inc.
("Investment Counsel"), a Florida corporation with offices at 500 East
Broward Boulevard, Suite 2100, Ft. Lauderdale, Florida 33394-3091. Pursuant
to an investment management agreement dated October 30, 1992, and last
amended and restated as of December 6, 1994, Investment Counsel manages the
investment and reinvestment of Trust assets. Investment Counsel is an
indirect, wholly-owned subsidiary of Resources.

The Administrator. The administrator of the Trust is Franklin Templeton
Services, Inc. ("FT Services"), with offices at 777 Mariners Island Blvd.,
San Mateo, California 94403-7777, an indirect, wholly-owned subsidiary of
Resources. Pursuant to an administration agreement dated October 1, 1996,
FT Services performs certain administrative functions for the Trust. In
addition, pursuant to a sub-administration agreement with Dean Witter
InterCapital Inc. ("Dean Witter"), Dean Witter performs, subject to FT
Services' supervision, various administrative functions for the Trust. Dean
Witter's principal offices are located at Two World Trade Center, New York,
New York 10048.

The Transfer Agent. The transfer agent, registrar and dividend disbursement
agent for the Trust is Dean Witter Trust Company, Harborside Financial
Center, Plaza II, Jersey City, New Jersey 07311, pursuant to a service
agreement dated October 2, 1989.

The Custodian. The custodian for the Trust is The Chase Manhattan Bank, 1
Chase Manhattan Plaza, New York, New York 10081, pursuant to a custody
agreement dated November 22, 1988 and amended July 5, 1996.

- FURTHER INFORMATION ABOUT VOTING AND THE SHAREHOLDERS MEETING:

Solicitation of Proxies. The cost of soliciting proxies, including the fees
of a proxy soliciting agent, are borne by the Trust. The Trust reimburses
brokerage firms and others for their expenses in forwarding proxy material to
the beneficial owners and soliciting them to execute proxies. The Trust does
not reimburse Trustees and Officers of the Trust, and regular employees of
the investment manager involved in the solicitation of proxies.

Voting by Broker-Dealers. The Trust expects that, before the Meeting,
broker-dealer firms holding shares of the Trust in "street name" for their
customers and clients will request voting instructions from their customers
and clients. If these instructions are not received
by the date specified in the broker-dealer firms' proxy solicitation
materials, the Trust understands that the NYSE permits the broker-dealers
to vote on behalf of their customers and clients.

Quorum. A majority of the shares entitled to vote--present in person or
represented by proxy--constitutes a quorum at the Meeting. The shares over
which broker-dealers have discretionary voting power, the shares that
represent "broker non-votes" (i.e., shares
held by brokers or nominees as to which (i) instructions have not been
received from the beneficial owners or persons entitled to vote and (ii)
the broker or nominee does not have discretionary voting power on a
particular matter), and the shares whose proxies reflect an abstention on
any item are all counted as shares present and entitled to vote for
purposes of determining whether the required quorum of shares exists.

Methods of Tabulation. Proposal 1, the election of Trustees, requires the
affirmative vote of the holders of a plurality of the Trust's shares
present and voting at the Meeting. Proposal 2, ratification of the
selection of the independent auditors, requires the affirmative vote of a
majority of the Trust's shares present and voting at the Meeting. Proposal
3, the transaction of any other business, is expected to require the
affirmative vote of a majority of the Trust's shares present and voting at
the Meeting. Abstentions and broker non-votes will be treated as votes not
cast and, therefore, will not be counted for purposes of obtaining approval
of Proposals 1, 2 and 3.

Simultaneous Meetings. The Meeting is to be held at the same time as the
meetings of Shareholders of Templeton Emerging Markets Fund, Inc.,
Templeton Global Income Fund, Inc., Templeton China World Fund, Inc., and
Templeton Emerging Markets Income Fund, Inc. It is anticipated that all
meetings will be held simultaneously. If any shareholder at the Meeting
objects to the holding of a simultaneous meeting and moves for an
adjournment of the Meeting to a time promptly after the simultaneous
meeting, the persons named as proxies will vote in favor of such
adjournment.

Adjournment. If a sufficient number of votes in favor of the proposals
contained in the Notice of Annual Meeting and Proxy Statement is not
received by the time scheduled for the Meeting, the persons named in the
proxy may propose one or more adjournments of the Meeting to permit further
solicitation of proxies with respect to any such proposals. Any proposed
adjournment requires the affirmative vote of a majority of shares present
at the Meeting. Abstentions and broker non-votes will not be voted for or
against any adjournment to permit further solicitation of proxies. Proxies
will be voted as specified. Those proxies reflecting no specification will
be voted in accordance with the judgment of the persons named in the proxy.

Shareholder Proposals. The Trust anticipates that its next annual meeting
will be held in February, 1999. Shareholder proposals to be presented at
the next annual meeting must be received at the Trust's offices, 500 E.
Broward Blvd., Ft. Lauderdale, Florida 33394-3091, no later than September
8, 1998.

By order of the Board of Trustees,

Barbara J. Green,
Secretary

January 5, 1998

APPENDIX A

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST

ANNUAL MEETING OF SHAREHOLDERS, FEBRUARY 17, 1998
PLEASE VOTE PROMPTLY

This Proxy is Solicited on behalf of the Board of Trustees

The undersigned hereby appoints BARBARA J. GREEN, JAMES R. BAIO, and JOHN R.
KAY, and each of them, with full power of substitution, as proxies to vote for
and in the name, place and stead of the undersigned at the Annual Meeting of
Shareholders of Templeton Global Governments Income Trust (the "Trust") to be
held at the Trust's offices, 500 East Broward Blvd., Ft. Lauderdale, Florida
33394-3091, on Tuesday, February 17, 1998 at 10:00 A.M., EST, and at any
adjournment thereof, according to the number of votes and as fully as if
personally present.

This Proxy when properly executed will be voted in the manner (or not voted) as
specified. If no specification is made, the Proxy will be voted FOR all nominees
for Trustee in Proposal 1, and in favor of Proposal 2, and within the discretion
of the Proxyholders as to Proposal 3.

Please date this Proxy and sign exactly as your name appears hereon. If more
than one owner is registered as such, all must sign. If signing as attorney,
executor, trustee or any other representative capacity, or as a corporate
officer, please give full title.

(Continued, and to be signed on the other side)

FOLD AND DETACH HERE
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[X] PLEASE MARK YOUR
BALLOT AS INDICATED
IN THIS EXAMPLE.

The Board of Trustees Recommends a vote FOR Proposals 1 through 3. Proposal 2--Ratification of the FOR AGAINST ABSTAIN
selection of McGladrey & Pullen, [ ] [ ] [ ]
Proposal 1 -- Election of Trustees LLP as independent auditors for the
FOR all nominees WITHHOLD Trust for the fiscal year ending
listed (except as AUTHORITY August 31, 1998.
Nominees: marked to the right) to vote for all
Harris J. Ashton, Gordon S. Macklin, nominees listed
Andrew H. Hines, Jr., and [ ] [ ]

S. Joseph Fortunato.

To withhold authority to vote for any Proposal 3--In their discretion, the FOR AGAINST ABSTAIN
individual nominee, write that nominee's Proxyholders are authorized to vote [ ] [ ] [ ]
name on the line below. upon such other matters which may
legally come before the Meeting or
________________________________________ any adjournments thereof.
I PLAN TO ATTEND
THE MEETING [ ]

Date: _____________

Please make sure to sign and date this Proxy using black or blue ink.
_____________________________________________________________________

_____________________________________________________________________

Shareholder sign in the box above.
_____________________________________________________________________

_____________________________________________________________________

Co-Owner (if any) sign in the box avove
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PLEASE DETACH AT PERFORATION

TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST

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IMPORTANT

PLEASE SEND IN YOUR PROXY ... TODAY!

YOU ARE URGED TO DATE AND SIGN THE ATTACHED PROXY AND RETURN IT PROMPTLY IN THE
ENCLOSED ENVELOPE. THIS WILL HELP SAVE THE EXPENSE OF FOLLOW-UP LETTERS TO
SHAREHOLDERS WHO HAVE NOT RESPONDED.

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