SAN MATEO, Calif., Aug. 21, 2018 (GLOBE NEWSWIRE) -- Franklin Limited Duration Income Trust [NYSE American: FTF], a closed-end investment company managed by Franklin Advisers, Inc., announced today the details of the redemption of all of the Fund’s outstanding auction preferred shares (“APS”) at the liquidation preference of $25,000 per share plus an amount equal to accumulated but unpaid dividends. Subject to satisfying the notice and other requirements that apply to the APS redemptions, the Fund expects to redeem the following amounts of APS listed below, not later than August 31, 2018. The Fund will replace its APS leverage with financing through a new loan facility.

Optional Redemption Price per Preferred Number of Series CUSIP Share Preferred Shares Redemption to be Redeemed Date (includes final accumulated but unpaid dividends)1 ---------------- ----------- ------------------ ------------------ --------------- 1,200, amounting Preferred Shares 354 72T 200 $25,051.11 to all outstanding Series M shares August 31, 2018 ---------------- ----------- ------------------ ------------------ --------------- 1,200, amounting Preferred Shares 354 72T 309 $25,051.10 to all outstanding Series W shares August 31, 2018 ---------------- ----------- ------------------ ------------------ --------------- 1,200, amounting Preferred Shares 354 72T 408 $25,051.13 to all outstanding Series F shares August 31, 2018 ---------------- ----------- ------------------ ------------------ ---------------

1 The amounts shown reflect dividends estimated through August 30, 2018; adjustments based upon actual rates will be applied prior to the Redemption Date of August 31, 2018.

Chris Molumphy, CIO of Franklin Templeton Fixed Income Group and the Fund’s President said, “We are pleased to announce that we have taken the necessary steps to complete a full refinancing of the Fund’s outstanding APS via a new loan facility, which will give us additional flexibility in managing the leverage of the Fund.”

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 Investments. Franklin Templeton Investments provides 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, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California–based company has 70 years of investment experience and over $733 billion in assets under management as of July 31, 2018. For more information, please visit franklintempleton.com.

Franklin Templeton Investments Shareholders/Financial Advisors: (800) 342-5236