TEMPLETON GLOBAL INCOME FUND, INC.
                            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 INCOME FUND, INC.
                 ANNOUNCES OPEN MARKET SHARE REPURCHASE PROGRAM

Ft. Lauderdale,  Florida,  February 26, 1997. Templeton Global Income Fund, Inc.
(the "Fund") (New York Stock Exchange:  GIM), a closed-end management investment
company,  announced today that the Board of Directors of the Fund has authorized
management to implement an  open-market  share  repurchase  program  pursuant to
which the Fund from time to time at the discretion of management may purchase up
to an aggregate of 12 million  shares of the Fund's Common Stock  (approximately
10% of the shares outstanding on February 18, 1997) in open-market transactions.

The Fund is  designed  for  investors  seeking  high  current  income  and, as a
secondary  investment  objective,  capital  appreciation  through investments in
fixed income  securities  of U.S.  and foreign  issuers.  The Fund's  investment
manager is the Templeton Global Bond Managers  Division of Templeton  Investment
Counsel, Inc., and Neil S. Devlin is the Fund's lead portfolio manager. The Fund
currently has total assets in excess of $1 billion.

The Fund'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.