]> Press Releases--Closed-End Funds, Franklin Universal Trust Dividend, Oct 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, September 29, 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 October 31, 2000 to shareholders of record on October 13, 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 $236 billion in assets under management as of August 31, 2000. For more information, please call 1-800/DIAL BEN®.