]> Press Releases--Closed-End Funds, Franklin Universal Trust Dividend, June 2000

Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, May 18, 2000 -- 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 June 30, 2000 to shareholders of record on June 15, 2000.

Franklin Advisers, Inc. is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization operating as Franklin Templeton Investments. Through its subsidiaries, Franklin Templeton Investments provides global and domestic investment, shareholder and distribution services to the Franklin, Templeton and Mutual Series funds and institutional accounts, as well as separate account management services. The San Mateo, CA-based company has over 50 years of investment experience and more than $225 billion in assets under management as of April 30, 2000. For more information, please call 1-800/DIAL BEN®.