]> Press Releases--Closed End-Funds, Franklin Universal Trust Reports Asset Allocation
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Franklin Universal Trust Reports Asset Allocation

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

San Mateo, CA, September 27, 2002 -- Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., today reported its portfolio composition, certain portfolio characteristics and NYSE closing price as of August 31, 2002.

Franklin Advisers, Inc. is a wholly owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization operating as Franklin Templeton Investments. Franklin Templeton provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The San Mateo, CA-based company has over 50 years of investment experience and more than $259 billion in assets under management as of August 31, 2002. For more information, please call 1-800-DIAL BEN® or visit franklintempleton.com.

FRANKLIN UNIVERSAL TRUST (002) ASSET ALLOCATION @ 08/31/02

SECURITY MARKET VALUE PERCENTAGE OF FUND
 
Corporate Bonds $127,206,353 64.21%
Convertible Bonds $926,250 0.47%
Utilities Stocks $38,314,094 19.34%
Natural Resources Equities & Preferred Stocks $993,575 0.50%
Misc. Equities & Preferred Stocks $9,928,730 5.01%
Foreign Denominated Corporate Bonds $0 0.00%
Foreign Gov't U.S. Dollar Denominated Bonds $7,513,600 3.79%
Foreign Government Agencies $396,452 0.20%
Cash & Equivalents $12,839,321 6.48%
========================= ============ ============
Total Gross Market Value $198,118,375 100.00%
TEN LARGEST HOLDINGS MARKET VALUE PERCENTAGE OF FUND
 
Riverwood International $5,100,000 2.58%
Echostar Broadband $4,612,500 2.33%
FPL Group $4,566,400 2.30%
Anchor Glass $4,452,000 2.25%
DTE Energy $4,291,000 2.17%
Sinclair Capital $4,190,000 2.11%
Station Casinos $4,180,000 2.11%
Host Marriott $4,085,000 2.06%
Nortek Inc. $4,070,000 2.05%
Southern Co. $4,054,400 2.05%
========================= ============ ============
Total $43,601,300 22.01%
% OF GROSS ASSETS IN DEFAULT ISSUER MARKET VALUE PERCENTAGE OF FUND
Ameriserve Food $270 0.00%
Century Communications $800,000 0.40%
Metrocall $50,000 0.03%
Pindo Deli $667,500 0.34%
Poland Telecom $30 0.00%
PSINet $404,875 0.20%
XO Communications $80,000 0.04%
Williams Communications $196,000 0.10%
========================= ============ ============
Total $2,198,675 1.11%
Note: The value of these defaulted securities is reflected in the fund's net asset value.
All percentages are rounded to two decimal places.
============================== ==============================
 
Number of Positions 116
NAV per share $5.13 (a)
Market price per share $6.37 (a)
Number of shares outstanding 27,614,608
Asset coverage (Investment Company Act) 332.95%
Total net assets $141,619,448
(a) These figures are rounded to two decimal places.