]> Press Releases--Closed-End Funds, Franklin Universal Trust Dividend, Jan 2000
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Franklin Univeral Trust Declares Monthly Dividend

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

San Mateo, CA, December 16, 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 January 31, 2000 to shareholders of record on January 14, 2000.

Franklin Advisers, Inc. is a wholly-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization. Through its subsidiaries, Franklin Resources provides global and domestic investment, shareholder and distribution services to the Franklin, Templeton and Mutual Series funds and institutional accounts. The San Mateo, CA-based company has more than $224 billion in assets under management as of November 30, 1999 and over 50 years of investment experience.