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

Franklin Universal Trust Reports Asset Allocation

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

San Mateo, CA, January 26, 2000 -- 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 December 31, 1999.

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 $235 billion in assets under management as of December 31, 1999, and over 50 years of investment experience.

SECURITY MARKET VALUE PERCENTAGE OF FUND
Corporate Bonds $201,745,490 68.16%
Convertible Bonds $3,190,335 1.08%
Utilities Stocks $55,531,397 18.76%
Natural Resources Equities & Preferred Stocks $2,846,418 0.96%
Misc. Equities & Preferred Stocks $27,917,418 9.43%
Foreign Denominated Corporate Bonds $0 0.00%
Foeign Gov't U.S. Dollar Denominated Bonds $0 0.00%
Foreign Government Agencies $597,197 0.20%
Cash & Equivalents $4,183,031 1.41%
Total Gross Market Value $296,011,478 100%
TEN LARGEST HOLDINGS: MARKET VALUE PERCENTAGE OF FUND
ZSC Specialty Chemical $5,175,000 1.75%
Texas Utilities Holding $5,032,094 1.70%
Millicom Internatinal Cellular $4,980,000 1.68%
Southern Company $4,906,800 1.66%
Edison International $4,860,400 1.64%
Consolidated Container $4,578,750 1.55%
Magnum Hunter Resources $4,575,000 1.55%
Duke Energy $4,511,250 1.52%
Dobson/Sygnet Communications $4,410,000 1.49%
Level 3 Communication $4,287,500 1.45%
Total $47,316,794 15.99%
% OF GROSS ASSENTS IN DEFUALT: ISSUER MARKET VALUE PERCENTAGE OF FUND
Vencor Inc $664,000 0.22%
Total $664,000 0.22%
Number of Postions   140
NAV per share   $8.36 (a)
NYSE Closing Price Per Share   $6.81 (a)
Number of shares outstanding   26,897,360
Asset Coverage (Investment Comapny Act)   399.79%
Nav * # of Shares   $224,843,207 (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.