]> Press Release - Closed-End - FT dividend
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Franklin Universal Trust Declares Monthly Dividend

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

San Mateo, CA, October 19, 2004 -- Franklin Universal Trust [NYSE:FT], a closed-end investment company managed by Franklin Advisers, Inc., announced today a dividend of 3.0 cents per share, payable November 15, 2004, to shareholders of record on October 29, 2004.

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 Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams.  The San Mateo, CA-based company has more than 50 years of investment experience and over $361 billion in assets under management as of September 30, 2004.  For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

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