Franklin Templeton Invests in Hyderabad based Infra firm GKC Projects

Franklin Templeton Asset Management (India) Private Limited, ("FT India"), announced that Franklin Templeton Private Equity Strategy ("FTPES"), a private equity portfolio managed by FT India and advised by Darby Asia Investors (India) Limited (“Darby India”) the private equity affiliate of Franklin Templeton, has invested up to Rs.600 million in Hyderabad based GKC Projects Limited ("GKC"). Transaction details were not disclosed.

GKC provides construction services in key infrastructure areas such as highways, irrigation, industrial infrastructure/power and water supply projects, and has operations across various regions in India. The company now plans to leverage on its expertise in the infrastructure space executing projects of larger size and complexity in the existing segments and venture into new areas such as railways, mining and BOT projects. The funds will be used to execute current projects and enable acquisition of larger projects.

About Darby and Franklin Templeton

FTPES is a private equity investment product offered to high net worth individuals in India and closed in 2008 with a total capital commitment of Rs.6300 million. The objective of FTPES is to make selective investments in high growth, mid-sized unlisted companies in India - in areas such as infrastructure, manufacturing, and consumer goods, and in related sectors.

Darby Overseas Investments Limited (“Darby”) is the private equity arm of Franklin Templeton Investments, and is a premier investment manager in emerging markets private equity and infrastructure investments with over $2.6 billion assets under management. Darby India is an affiliate of Darby.

Darby is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $539 billion in assets under management as of 30 November 2009.