]> Press Releases--Closed-End Funds, Franklin Universal Trust Asset Allocation, August 1999
tagline

Franklin Universal Trust Reports Asset Allocation

From: Franklin Advisers, Inc.
Contact: Matt Walsh
Telephone:(650) 312-2245

San Mateo, CA, September 21, 1999 -- Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., today reported its portfolio composition, certain portfolio characteristics and NYSE closing price as of August 31, 1999.

Franklin Advisers, Inc. is a wholly-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization with over $222 billion in assets under management as of August 31, 1999. Franklin's headquarters are located at 777 Mariners Island Blvd., San Mateo, CA 94404.

SECURITY MARKET VALUE PERCENTAGE OF FUND
Corporate Bonds $206,576,231 66.70%
Convertible Bonds $1,459,250 0.47%
Utilities Stocks $63,474,762 20.49%
Natural Resources Equities & Preferred Stocks $4,013,880 1.30%
Misc. Equities & Preferred Stocks $27,482,881 8.87%
Foreign Denominated Corporate Bonds $0 0.00%
Foeign Gov't U.S. Dollar Denominated Bonds $0 0.00%
Foreign Government Agencies $556,982 0.18%
Cash & Equivalents $6,168,762 1.99%
Total Gross Market Value $309,732,748 100%
TEN LARGEST HOLDINGS: MARKET VALUE PERCENTAGE OF FUND
Texas Utilities Holding $7,656,306 2.47%
Dominion Resources $6,937,500 2.24%
Southern Company $5,650,650 1.82%
Duke Energy $5,175,000 1.67%
Nextel Communication $5,037,500 1.63%
ZSC Specialty Chemical $5,000,000 1.61%
Magnum Hunter Resouces $4,750,000 1.53%
Edison International $4,709,600 1.52%
Consolidated Container $4,545,000 1.47%
Millicom Int'l Cellular $4,260,000 1.38%
Total $53,721,556 17.34%
% OF GROSS ASSENTS IN DEFUALT: ISSUER MARKET VALUE PERCENTAGE OF FUND
Vencor Inc $880,000 0.28%
Total $880,000 0.28%
Number of Postions   139
NAV per share   $8.91 (a)
NYSE Closing Price Per Share   $8.69 (a)
Number of shares outstanding   26,897,360
Asset Coverage (Investment Comapny Act)   419.37%
Nav * # of Shares   $239,528,934 (b)
Note: The lower values of these defaulted securities are reflected in the funds net asset value. All percentages are rounded two decimal places. 
(a) These figures have been rounded to two decimal places.
(b) This number represents the net assest value per share carried out to eight decimal places, multiplied by the number of shares outstanding.