Templeton Russia and East European Fund, Inc. (the Fund) is a non-diversified, closed-end investment company. The Fund seeks long-term capital appreciation. It invests at least 80% of its net assets in investments that are tied economically to Russia or East European countries. It invests in sectors, such as metals and mining, oil, gas and consumable fuels, wireless telecommunication services, pharmaceuticals, diversified telecommunication services, commercial banks, food products and media. The Fund may invest in the Franklin Institutional Fiduciary Trust Money Market Portfolio (Sweep Money Fund), an open-end investment company managed by Franklin Advisers, Inc., an affiliate of the investment manager. Its investment manager is Templeton Asset Management Ltd. The Fund's administrative manager is Franklin Templeton Services, LLC.