TEMPLETON DRAGON FUND INC

Templeton Dragon Fund, Inc. is a closed-end equity mutual fund managed by Templeton Asset Management Ltd., a subsidiary of Franklin Resources, Inc. The fund invests in the public equity markets of China, focusing on value stocks of companies across diversified sectors. Its investment strategy involves fundamental analysis, evaluating factors such as growth prospects, competitive positions in export markets, technologies, research and development, productivity, labor costs, raw material costs and sources, profit margins, returns on investment, capital resources, government regulation, and management. The fund is actively managed. Templeton Dragon Fund, Inc. was established on September 20, 1994, and is based in the United States.