]> Press Releases--Closed-End Funds, Franklin Universal Trust Dividend, July 1999

Franklin Universal Trust Declares Monthly Dividend

From: Franklin Advisers, Inc.
Contact: Ashley Razor
Telephone:(650) 312-2245

San Mateo, CA, June 23, 1999 -- Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of 6.7 cents per share, payable July 30, 1999 to shareholders of record on July 15, 1999.

Franklin Advisers, Inc. is a wholly-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization with over $223 billion in assets under management as of May 31, 1999. Franklin's headquarters are located at 777 Mariners Island Blvd., San Mateo, CA 94404.