<PAGE>
PAGE 1
000 A000000 02/28/98
000 C000000 809708
000 D000000 N
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000 F000000 Y
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000 I000000 3.0
000 J000000 A
001 A000000 TEMPLETON EMERGING MARKETS FUND, INC.
001 B000000 811-4985
001 C000000 9545277591
002 A000000 500 E BROWARD BLVD SUITE 2100
002 B000000 FT. LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
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004 000000 N
005 000000 N
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<PAGE>
PAGE 2
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<PAGE>
PAGE 3
007 C018000 80
008 A000001 TEMPLETON ASSET MANAGEMENT LTD
008 B000001 A
008 C000001 801-42353
008 D010001 HONG KONG
008 D050001 HONG KONG
010 A000001 FRANKLIN TEMPLETON SERVICES, INC
010 B000001 8-31192
010 C010001 FT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
011 A000001 DELETE
012 A000001 CHASEMELLON SHAREHOLDER SERVICES
012 B000001 84-00000
012 C010001 RIDGEFIELD PARK
012 C020001 NJ
012 C030001 07660
012 C040001 0000
013 A000001 MCGLADREY & PULLEN, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
015 A000001 THE CHASE MANHATTAN BANK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10081
015 E010001 X
015 A000002 THE CHASE MANHATTAN BANK
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 D020002 1061
015 E040002 X
015 A000003 THE CHASE MANHATTAN BANK
015 B000003 S
015 C010003 SYDNEY
015 D010003 AUSTRALIA
015 D020003 NSW 2000
015 E040003 X
015 A000004 CREDITANSTALT AG
015 B000004 S
015 C010004 VIENNA
015 D010004 AUSTRIA
015 D020004 A - 1011
015 E040004 X
015 A000005 STANDARD CHARTERED BANK
015 B000005 S
015 C010005 DHAKA
<PAGE>
PAGE 4
015 D010005 BANGLADESH
015 D020005 1000
015 E040005 X
015 A000006 GENERALE BANK
015 B000006 S
015 C010006 BRUSSELS
015 D010006 BELGIUM
015 D020006 1000
015 E040006 X
015 A000007 BARCLAYS BANK OF BOTSWANA LIMITED
015 B000007 S
015 C010007 GABORONE
015 D010007 BOTSWANA
015 E040007 X
015 A000008 BANCO CHASE MANHATTAN, S.A.
015 B000008 S
015 C010008 SAO PAULO
015 D010008 BRAZIL
015 D020008 SP 04719-002
015 E040008 X
015 A000009 THE ROYAL BANK OF CANADA
015 B000009 S
015 C010009 TORONTO
015 D010009 CANADA
015 D020009 M5J 2J5
015 E040009 X
015 A000010 THE BRITISH BANK OF THE MIDDLE EAST
015 B000010 S
015 C010010 MANAMA
015 D010010 BAHRAIN
015 E040010 X
015 A000011 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000011 S
015 C010011 SHANGHAI
015 D010011 CHINA
015 D020011 200120
015 E040011 X
015 A000012 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000012 S
015 C010012 SHENZHEN
015 D010012 CHINA
015 E040012 X
015 A000013 CITITRUST COLOMBIA S.A.
015 B000013 S
015 C010013 SANTAFE DE BOGOTA
015 D010013 COLOMBIA
015 E040013 X
015 A000014 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000014 S
015 C010014 PRAHA
015 D010014 CZECH REPUBLIC
<PAGE>
PAGE 5
015 D020014 115 20
015 E040014 X
015 A000015 DEN DANSKE BANK
015 B000015 S
015 C010015 COPENHAGEN
015 D010015 DENMARK
015 D020015 1091
015 E040015 X
015 A000016 NATIONAL BANK OF EGYPT
015 B000016 S
015 C010016 CAIRO
015 D010016 EGYPT
015 E040016 X
015 A000017 BANQUE PARIBAS
015 B000017 S
015 C010017 PARIS
015 D010017 FRANCE
015 D020017 75078
015 E040017 X
015 A000018 DRESDNER BANK A.G.
015 B000018 S
015 C010018 FRANKFURT
015 D010018 GERMANY
015 E040018 X
015 A000019 BARCLAYS BANK OF GHANA LTD
015 B000019 S
015 C010019 ACCRA
015 D010019 GHANA
015 E040019 X
015 A000020 BARCLAYS BANK PLC
015 B000020 S
015 C010020 ATHENS
015 D010020 GREECE
015 D020020 10562
015 E040020 X
015 A000021 THE CHASE MANHATTAN BANK
015 B000021 S
015 C010021 HONG KONG
015 D010021 HONG KONG
015 E040021 X
015 A000022 CITIBANK BUDAPEST RT.
015 B000022 S
015 C010022 BUDAPEST
015 D010022 HUNGARY
015 D020022 H-1051
015 E040022 X
015 A000023 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000023 S
015 C010023 BOMBAY
015 D010023 INDIA
015 D020023 400 001
<PAGE>
PAGE 6
015 E040023 X
015 A000024 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000024 S
015 C010024 JAKARTA
015 D010024 INDONESIA
015 D020024 10023
015 E040024 X
015 A000025 BANK OF IRELAND
015 B000025 S
015 C010025 DUBLIN
015 D010025 IRELAND
015 D020025 1
015 E040025 X
015 A000026 BANK LEUMI LE-ISRAEL B.M.
015 B000026 S
015 C010026 TEL AVIV
015 D010026 ISRAEL
015 D020026 61000
015 E040026 X
015 A000027 BANQUE PARIBAS
015 B000027 S
015 C010027 MILAN
015 D010027 ITALY
015 D020027 20121
015 E040027 X
015 A000028 THE FUJI BANK LTD
015 B000028 S
015 C010028 TOKYO
015 D010028 JAPAN
015 E040028 X
015 A000029 ARAB BANK LIMITED
015 B000029 S
015 C010029 AMMAN
015 D010029 JORDAN
015 E040029 X
015 A000030 BARCLAYS BANK OF KENYA
015 B000030 S
015 C010030 NAIROBI
015 D010030 KENYA
015 E040030 X
015 A000031 THE CHASE MANHATTAN BANK
015 B000031 S
015 C010031 KUALA LUMPUR
015 D010031 MALAYSIA
015 D020031 50250
015 E040031 X
015 A000032 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000032 S
015 C010032 CUREPIPE
015 D010032 MAURITIUS
015 E040032 X
<PAGE>
PAGE 7
015 A000033 THE CHASE MANHATTAN BANK, S.A.
015 B000033 S
015 C010033 MEXICO D.F.
015 D010033 MEXICO
015 D020033 01210
015 E040033 X
015 A000034 BANQUE COMMERCIALE DU MAROC
015 B000034 S
015 C010034 CASABLANCA
015 D010034 MOROCCO
015 D020034 20000
015 E040034 X
015 A000035 ABN AMRO N.V.
015 B000035 S
015 C010035 DE BREDA
015 D010035 NETHERLANDS
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015 E040035 X
015 A000036 NATIONAL NOMINEES LIMITED
015 B000036 S
015 C010036 AUCKLAND
015 D010036 NEW ZEALAND
015 E040036 X
015 A000037 DEN NORSKE BANK
015 B000037 S
015 C010037 OSLO
015 D010037 NORWAY
015 D020037 N-0107
015 E040037 X
015 A000038 CITIBANK N.A.
015 B000038 S
015 C010038 KARACHI
015 D010038 PAKISTAN
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015 E040038 X
015 A000039 CITIBANK, N.A.
015 B000039 S
015 C010039 LIMA
015 D010039 PERU
015 D020039 27
015 E040039 X
015 A000040 THE HONGKONG AND SHANGHAI BANKING CORP. LTD
015 B000040 S
015 C010040 PASIG CITY
015 D010040 PHILIPPINES
015 E040040 X
015 A000041 BANK HANDLOWY W. WARSZAWIE, S.A.
015 B000041 S
015 C010041 WARSAW
015 D010041 POLAND
015 D020041 00-950
<PAGE>
PAGE 8
015 E040041 X
015 A000042 BANCO ESPIRITO SANTO E COMERCIAL DE LISBOA
015 B000042 S
015 C010042 LISBON
015 D010042 PORTUGAL
015 D020042 1250
015 E040042 X
015 A000043 STANDARD CHARTERED BANK
015 B000043 S
015 C010043 SINGAPORE
015 D010043 SINGAPORE
015 D020043 049909
015 E040043 X
015 A000044 CESKOSLOVENSKA OBCHODNI BANKA, A.S.
015 B000044 S
015 C010044 BRATISLAVA
015 D010044 SLOVAK REPUBLIC
015 D020044 815 63
015 E040044 X
015 A000045 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B000045 S
015 C010045 JOHANNESBURG
015 D010045 SOUTH AFRICA
015 E040045 X
015 A000046 THE HONGKONG & SHANGHAI BANKING CORP. LTD.
015 B000046 S
015 C010046 SEOUL
015 D010046 SOUTH KOREA
015 E040046 X
015 A000047 THE CHASE MANHATTAN BANK
015 B000047 S
015 C010047 MADRID
015 D010047 SPAIN
015 D020047 28046
015 E040047 X
015 A000048 THE HONGKONG & SHANGHAI BANKING CORP. LTD
015 B000048 S
015 C010048 COLOMBO
015 D010048 SRI LANKA
015 D020048 1
015 E040048 X
015 A000049 SKANDINAVISKA ENSKILDA BANKEN
015 B000049 S
015 C010049 STOCKHOLM
015 D010049 SWEDEN
015 D020049 S-106 40
015 E040049 X
015 A000050 UNION BANK OF SWITZERLAND
015 B000050 S
015 C010050 ZURICH
015 D010050 SWITZERLAND
<PAGE>
PAGE 9
015 D020050 8021
015 E040050 X
015 A000051 THE CHASE MANHATTAN BANK
015 B000051 S
015 C010051 BANGKOK
015 D010051 THAILAND
015 D020051 10500
015 E040051 X
015 A000052 THE CHASE MANHATTAN BANK
015 B000052 S
015 C010052 ISTANBUL
015 D010052 TURKEY
015 E040052 X
015 A000053 THE CHASE MANHATTAN BANK
015 B000053 S
015 C010053 LONDON
015 D010053 UNITED KINGDOM
015 D020053 E1 9YT
015 E040053 X
015 A000054 THE BANK OF BERMUDA LTD
015 B000054 S
015 C010054 HAMILTON
015 D010054 BERMUDA
015 E040054 X
015 A000055 THE FIRST NATIONAL BANK OF BOSTON
015 B000055 S
015 C010055 MONTEVIDEO
015 D010055 URUGUAY
015 E040055 X
015 A000056 CITIBANK N.A.
015 B000056 S
015 C010056 CARACAS
015 D010056 VENEZUELA
015 D020056 1010
015 E040056 X
015 A000057 BARCLAYS BANK OF ZAMBIA
015 B000057 S
015 C010057 LUSAKA
015 D010057 ZAMBIA
015 E040057 X
015 A000058 BARCLAYS BANK OF ZIMBABWE
015 B000058 S
015 C010058 HARARE
015 D010058 ZIMBABWE
015 E040058 X
015 A000059 CANADA TRUST
015 B000059 S
015 C010059 TORONTO
015 D010059 CANADA
015 D020059 M5J 2T2
015 E040059 X
<PAGE>
PAGE 10
015 A000060 CEDEL BANK S.A.
015 B000060 S
015 C010060 LUXEMBOURG
015 D010060 LUXEMBOURG
015 E040060 X
015 A000061 FIRST CHICAGO CLEARING CENTRE
015 B000061 S
015 C010061 LONDON
015 D010061 UNITED KINGDON
015 E040061 X
015 A000062 MERITA BANK LTD
015 B000062 S
015 C010062 HELSINKI
015 D010062 FINLAND
015 E040062 X
015 A000063 CHASE MANHATTAN BANK INTERNATIONAL ("CMBI")
015 B000063 S
015 C010063 MOSCOW
015 D010063 RUSSIA
015 D020063 125047
015 E040063 X
015 A000064 BARCLAYS BANK PLC
015 B000064 S
015 C010064 NICOSIA
015 D010064 CYPRUS
015 D020064 1644
015 E040064 X
015 A000065 CITIBANK, N.A.
015 B000065 S
015 C010065 QUITO
015 D010065 ECUADOR
015 E040065 X
015 A000066 EUROCLEAR
015 B000066 S
015 C010066 BRUSSELS
015 D010066 BELGIUM
015 E040066 X
015 A000067 BANQUE GENERALE DU LUXEMBOURG S.A.
015 B000067 S
015 C010067 LUXEMBOURG
015 D010067 LUXEMBOURG
015 D020067 L-2951
015 E040067 X
015 A000068 STANDARD BANK NAMIBIA LTD
015 B000068 S
015 C010068 WINDHOEK
015 D010068 NAMIBIA
015 E040068 X
015 A000069 THE BRITISH BANK OF THE MIDDLE EAST
015 B000069 S
015 C010069 MUSCAT
<PAGE>
PAGE 11
015 D010069 OMAN
015 E040069 X
015 A000070 STANBIC BANK SWAZILAND LTD
015 B000070 S
015 C010070 MBABANE
015 D010070 SWAZILAND
015 E040070 X
015 A000071 THE CHASE MANHATTAN BANK
015 B000071 S
015 C010071 TAIPEI
015 D010071 TAIWAN
015 E040071 X
015 A000072 SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE
015 B000072 S
015 C010072 ABIDJAN
015 D010072 IVORY COAST
015 D020072 01
015 E040072 X
015 A000073 THE BRITISH BANK OF THE MIDDLE EAST
015 B000073 S
015 C010073 RAS-BEIRUT
015 D010073 LEBANON
015 E040073 X
015 A000074 DELETE
018 000000 Y
019 A000000 Y
019 B000000 214
019 C000000 FRNKTEMGRP
020 A000001 ING BARING SEC
020 B000001 04-2455153
020 C000001 37
020 A000002 PEREGRINE SECURITIES
020 B000002 SINGAPORE
020 C000002 26
020 A000003 JM SASSOON & CO.
020 B000003 SINGAPORE
020 C000003 25
020 A000004 INDOSUEZ W.E. CARR SECS
020 B000004 HONG KONG
020 C000004 22
020 A000005 ALPHA BROKERAGE HOUSE
020 C000005 21
020 A000006 P T BZW NIAGA JAKARTA
020 C000006 17
020 A000007 HSBC JAMES CAPEL
020 B000007 SINGAPORE
020 C000007 15
020 A000008 LAZARD BROTHERS & CO.
020 B000008 U. KINGDOM
020 C000008 15
020 A000009 GLOBAL SECURITIES
<PAGE>
PAGE 12
020 C000009 14
020 A000010 DEUTSCHE MORGAN GRENFELL
020 B000010 13-2730828
020 C000010 14
021 000000 399
022 A000001 THE CHASE MANHATTAN BANK, N.A.
022 B000001 13-2633612
022 C000001 54996
022 D000001 25128
022 A000002 HONGKONG & SHANGHAI BANK
022 B000002 13-2650272
022 C000002 11884
022 D000002 51592
022 A000003 PRUDENTIAL BACH
022 B000003 22-2347336
022 C000003 9598
022 D000003 0
022 A000004 DEUTSCHE MORGAN GRENFELL
022 B000004 13-2730828
022 C000004 2623
022 D000004 6212
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022 B000005 04-2455153
022 C000005 1668
022 D000005 6232
022 A000006 ALPHA BROKERAGE
022 C000006 235
022 D000006 7543
022 A000007 SIGMA SECURITIES
022 C000007 0
022 D000007 5623
022 A000008 PEREGRINE SECURITIES
022 B000008 SINGAPORE1
022 C000008 3262
022 D000008 1455
022 A000009 BANCO OMEGA
022 B000009 BRAZIL
022 C000009 0
022 D000009 4146
022 A000010 SASSOON SECURITIES
022 B000010 HONG KONG
022 C000010 3777
022 D000010 99
023 C000000 122513
023 D000000 131378
024 000000 N
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025 D000002 0
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<PAGE>
PAGE 13
025 D000006 0
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<PAGE>
PAGE 14
038 000000 0
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<PAGE>
PAGE 15
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070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 N
<PAGE>
PAGE 16
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 N
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 45432
071 B000000 54262
071 C000000 227440
071 D000000 20
072 A000000 6
072 B000000 580
072 C000000 1682
072 D000000 0
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072 G000000 216
072 H000000 0
072 I000000 12
072 J000000 274
072 K000000 5
072 L000000 76
072 M000000 15
072 N000000 25
072 O000000 0
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<PAGE>
PAGE 17
072 Q000000 0
072 R000000 15
072 S000000 10
072 T000000 0
072 U000000 0
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072 X000000 2451
072 Y000000 0
072 Z000000 -189
072AA000000 29547
072BB000000 4599
072CC010000 0
072CC020000 65777
072DD010000 4385
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072EE000000 36081
073 A010000 0.2650
073 A020000 0.0000
073 B000000 2.1750
073 C000000 0.0000
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074 C000000 7591
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074 E000000 25000
074 F000000 233047
074 G000000 0
074 H000000 0
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074 K000000 0
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074 M000000 0
074 N000000 266531
074 O000000 833
074 P000000 272
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074 R010000 0
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074 R030000 0
074 R040000 683
074 S000000 0
074 T000000 264743
074 U010000 16800
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074 V010000 15.76
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074 W000000 0.0000
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<PAGE>
PAGE 18
075 A000000 0
075 B000000 290545
076 000000 17.56
077 A000000 N
078 000000 N
080 B000000 NONE
080 C000000 0
081 B000000 0
082 B000000 0
083 B000000 0
084 B000000 0
086 A010000 253
086 A020000 4225
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON
087 A020000 880191101
087 A030000 EMF
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE /s/JAMES R. BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The schedule contains summary financial information extracted from the
Templeton Emerging Markets Fund, Inc. February 28, 1998 Semi-annual
report and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000809708
<NAME> TEMPLETON EMERGING MARKETS FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 213939795
<INVESTMENTS-AT-VALUE> 265723531
<RECEIVABLES> 682329
<ASSETS-OTHER> 124847
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 266530707
<PAYABLE-FOR-SECURITIES> 832566
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 955273
<TOTAL-LIABILITIES> 1787839
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 196990424
<SHARES-COMMON-STOCK> 16800338
<SHARES-COMMON-PRIOR> 16547739
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (222680)
<ACCUMULATED-NET-GAINS> 16191388
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51783736
<NET-ASSETS> 264742868
<DIVIDEND-INCOME> 1682178
<INTEREST-INCOME> 579821
<OTHER-INCOME> 0
<EXPENSES-NET> (2451415)
<NET-INVESTMENT-INCOME> (189416)
<REALIZED-GAINS-CURRENT> 24948220
<APPREC-INCREASE-CURRENT> (65777074)
<NET-CHANGE-FROM-OPS> (41018270)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4385151)
<DISTRIBUTIONS-OF-GAINS> (36081159)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 252599
<NET-CHANGE-IN-ASSETS> (77259393)
<ACCUMULATED-NII-PRIOR> 4351887
<ACCUMULATED-GAINS-PRIOR> 27324327
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1800980)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (2451415)
<AVERAGE-NET-ASSETS> 290544788
<PER-SHARE-NAV-BEGIN> 20.67
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> (2.46)
<PER-SHARE-DIVIDEND> (0.27)
<PER-SHARE-DISTRIBUTIONS> (2.17)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.76
<EXPENSE-RATIO> 1.70<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Expense ratio is annualized.
</FN>
</TABLE>
