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PAGE 1
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000 C000000 0000930828
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<PAGE>
PAGE 2
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<PAGE>
PAGE 3
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<PAGE>
PAGE 4
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<PAGE>
PAGE 5
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<PAGE>
PAGE 6
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<PAGE>
PAGE 7
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PAGE 8
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PAGE 9
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<PAGE>
PAGE 11
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SIGNATURE /s/JAMES R. BAIO
James R. Baio
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON RUSSIA FUND, INC., SEPTEMBER 30, 1997 SEMI-ANNUAL REPORT AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000930828
<NAME> TEMPLETON RUSSIA FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1998
<PERIOD-END> SEP-30-1997
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<FN>
<F1>INCLUSIVE OF FEE WAIVER. EXPENSE RATIO IS ANNUALIZED.
</FN>
</TABLE>
