<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON EMERGING MARKETS APPRECIATION FUND, INC. MARCH 31, 2000 ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000919166
<NAME> TEMPLETON EMERGING MARKETS APPRECIATION FUND, INC.
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 55980807
<INVESTMENTS-AT-VALUE> 62485111
<RECEIVABLES> 1086535
<ASSETS-OTHER> 950282
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64521928
<PAYABLE-FOR-SECURITIES> 819217
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198035
<TOTAL-LIABILITIES> 1017252
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 60998065
<SHARES-COMMON-STOCK> 4384710
<SHARES-COMMON-PRIOR> 4384710
<ACCUMULATED-NII-CURRENT> 548702
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (4552143)
<ACCUM-APPREC-OR-DEPREC> 6510052
<NET-ASSETS> 63504676
<DIVIDEND-INCOME> 939976
<INTEREST-INCOME> 2339060
<OTHER-INCOME> 0
<EXPENSES-NET> (1139695)
<NET-INVESTMENT-INCOME> 2139341
<REALIZED-GAINS-CURRENT> (2747491)
<APPREC-INCREASE-CURRENT> 15105948
<NET-CHANGE-FROM-OPS> 14497798
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2425622)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 12072176
<ACCUMULATED-NII-PRIOR> 889812
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1859481)
<GROSS-ADVISORY-FEES> (756199)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1139695)
<AVERAGE-NET-ASSETS> 60495923
<PER-SHARE-NAV-BEGIN> 11.73
<PER-SHARE-NII> 0.49<F1>
<PER-SHARE-GAIN-APPREC> 2.81<F1>
<PER-SHARE-DIVIDEND> (0.55)<F1>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.48
<EXPENSE-RATIO> 1.88
<FN>
<F1>BASED ON AVERAGE WEIGHTED SHARES OUTSTANDING.
</FN>
</TABLE>
