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

Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, November 27, 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 December 31, 2001 to shareholders of record on December 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, Mutual Series and Fiduciary products, high net worth 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 $251 billion in assets under management as of October 31, 2001. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.