]> Press Releases--Close End Fund, FUT Dividend
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Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, May 9, 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 June 30, 2003, to shareholders of record on June 13, 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 $267 billion in assets under management as of April 30, 2003.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.