Franklin Resources, Inc
Franklin Resources, Inc.
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Franklin Resources, Inc. Announces First Quarter Results

From: Franklin Resources, Inc.
Contact: Holly Gibson Brady
Telephone:(650) 312-4701

San Mateo, CA, January 27, 2005 - Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today reported net income of $240.0 million, or $0.92 per share diluted on revenues of $986.0 million for the quarter ended December 31, 2004.  In the quarter ended September 30, 2004, net income was $187.7 million, or $0.73 per share diluted, on revenues of $881.7 million.  For the quarter ended December 31, 2003, net income was $172.3 million, or $0.67 per share diluted on revenues of $809.7 million.  Operating income increased 24% this quarter over the prior quarter and increased 35% over the same quarter in the prior year.

As of December 31, 2004, assets under management by the company's subsidiaries were $402.2 billion, as compared to $361.9 billion last quarter and $336.7 billion at this time last year.  Simple monthly average assets under management during the current quarter were $381.0 billion compared to $353.3 billion in the preceding quarter and $318.7 billion in the same quarter a year ago.  Equity assets now comprise 57% of total assets under management as compared to 55% last quarter and 54% at December 31, 2003.  Fixed-income assets now comprise 25% of total assets under management as compared to 27% last quarter and 29% at the same time last year.  As of December 31, 2004, hybrid assets account for 17% of total assets under management as compared to 16% last quarter and 15% at December 31, 2003.  Sales exceeded redemptions by $8.8 billion for the current quarter compared to $6.6 billion for the prior quarter and $7.4 billion for the comparable quarter a year ago.

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