TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST
                            Broward Financial Centre
                       500 East Broward Blvd./Suite 2100
                         Ft. Lauderdale, FL 33394-3091
                               Tel: 954/527-7500

FOR IMMEDIATE RELEASE:

Contact Holly Gibson at 415/312-4701.

                   TEMPLETON GLOBAL GOVERNMENTS INCOME TRUST
                 ANNOUNCES OPEN MARKET SHARE REPURCHASE PROGRAM

Ft. Lauderdale,  Florida, February 26, 1997. Templeton Global Governments Income
Trust (the  "Trust")  (New York Stock  Exchange:  TGG), a closed-end  management
investment company,  announced today that the Board of Trustees of the Trust has
authorized  management  to implement an  open-market  share  repurchase  program
pursuant to which the Trust from time to time at the  discretion  of  management
may  purchase up to an aggregate  of 2 million  shares of the Trust's  shares of
beneficial interest (approximately 10% of the shares outstanding on February 18,
1997) in open-market transactions.

The Trust is  designed  for  investors  seeking a high level of  current  income
consistent with the preservation of capital through investing in debt securities
of government  entities of various  nations  throughout  the world.  The Trust's
investment  manager is the Templeton Global Bond Managers  Division of Templeton
Investment  Counsel,  Inc.,  and Neil S.  Devlin is the Trust's  lead  portfolio
manager. The Trust currently has total assets in excess of $188 million.

The Trust's  investment  manager is a  subsidiary  of Franklin  Resources,  Inc.
(NYSE:  BEN).  Franklin's main business is the $186 billion  Franklin  Templeton
Group.  Franklin has its  headquarters at 777 Mariners Island Blvd.,  San Mateo,
California 94404.