]> Press Releases--Closed-End Funds, Franklin Universal Trust Dividend, June 2001

Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, May 18, 2001—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 29, 2001 to shareholders of record on June 15, 2001.

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 provides global and domestic investment, shareholder, custody 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 in April 2001, acquired Fiduciary Trust Company International. Fiduciary, founded in 1931, is one of the world's oldest global investment firms specializing in managing assets for institutional and high net worth investors worldwide. The combined entity had approximately $269 billion in assets under management as of April 30, 2001. For more information, please call 1-800/DIAL BEN®.