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

Franklin Universal Trust Declares Monthly Dividend

From: Franklin Templeton Investments
Contact: Matt Walsh
Telephone:(650) 312-2245

San Mateo, CA, June 20, 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 July 31, 2003, to shareholders of record on July 15, 2003.

The Board of Trustees of Franklin Universal Trust has changed the dividend payment schedule for the Trust from the last business day of the month to the 15th day of the month (or the prior business day if the 15th falls on a Saturday or Sunday).  The final dividend payment under the current schedule will occur on July 31, 2003 and the initial dividend payment under the new schedule will occur on September 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 $281 billion in assets under management as of May 31, 2003.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.