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

Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, August 21, 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 September 28, 2001 to shareholders of record on September 14, 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 more than $266 billion in assets under management as of July 31, 2001. For more information, please call 1-800/DIAL BEN®.