Franklin Limited Duration Income Trust Announces Upcoming Portfolio Management Team Change

SAN MATEO, Calif., July 24, 2019 (GLOBE NEWSWIRE) -- Franklin Limited Duration Income Trust [NYSE American:FTF] (CUSIP 35472T101), a closed-end investment company managed by Franklin Advisers, Inc., has announced that, effective October 15, 2019, the Fund will shift to a team-based approach with David Yuen, CFA^® to join the Fund’s portfolio management team and serve as a co-lead portfolio manager alongside Sonal Desai, Ph.D., Glenn Voyles, CFA^® and Justin Ma, CFA^®, who are current members of the Fund’s portfolio management team.

The Fund’s current lead portfolio manager Roger Bayston, CFA^®, will come off the Fund’s portfolio management team effective October 15, 2019, to focus on his new role leading Franklin Templeton Fixed Income Group’s Quantitative and Fintech Strategies team.

You may request a copy of the Fund's current Report to Shareholders by contacting Franklin Templeton’s Fund Information Department at 1-800/DIAL BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments involve risks, including possible loss of principal. Interest rate movements and mortgage prepayments will affect the Fund's share price and yield. Bond prices generally move in the opposite direction of interest rates. As the prices of bonds in a fund adjust to a rise in interest rates, the fund’s share price may decline. Investments in lower-rated bonds include higher risk of default and loss of principal. The Fund is actively managed but there is no guarantee that the manager's investment decisions will produce the desired results. For portfolio management discussions, including information regarding the Fund’s investment strategies, please view the most recent Annual or Semi-Annual Report to Shareholders which can be found at franklintempleton.com or sec.gov.

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes, including equity, fixed income, alternatives and custom multi-asset solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With employees in over 30 countries, the California-based company has more than 70 years of investment experience and over US$715 billion in assets under management as of June 30, 2019. For more information, please visit franklintempleton.com.

FROM:  Franklin Templeton

Shareholders/Financial Advisors: (800) 342-5236

Media: Becky Radosevich at (212) 632-3207