Franklin Resources Inc. Reports 30.5% Ownership in Clarion Partners Real Estate Income Fund Inc.

Franklin Resources Inc. (FRI) has filed a Schedule 13D/A amendment reporting a 30.5% ownership in Clarion Partners Real Estate Income Fund Inc. The filing details that FRI, along with its investment management subsidiaries, holds 24,764,871 Class I Shares of Common Stock. The shares were acquired for investment purposes and to facilitate the acquisition of the Issuer's commercial real estate investments. The filing also notes that FRI and its subsidiaries may increase or decrease their position in the Issuer depending on market conditions, investment opportunities, and the availability of shares at desirable prices. The filing includes information on the sole and shared voting and dispositive powers of the reporting persons, with FRI holding sole voting power over 24,764,871 shares. The filing was signed by Thomas C. Mandia, Assistant Secretary of Franklin Resources Inc., on behalf of the reporting persons.