]> Press Releases--Closed End Funds, Franklin Universal Trust Declares Monthly Dividend

Franklin Universal Trust Declares Monthly Dividend

From: Franklin Templeton Investments
Contact: Stacey Johnston
Telephone:(650) 525-7458

San Mateo, CA, April 24, 2003—Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of 2.3 cents per share, payable May 30, 2003, to shareholders of record on May 15, 2003.

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 over $252 billion in assets under management as of March 31, 2003.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.