Franklin Resources Inc

            Franklin Resources AnnouncesQuarterly Dividend

Franklin Resources, Inc. (NYSE:BEN) announced a quarterly cash dividend of
$0.085 per share payable on January 15, 2004 to shareholders of record on
December 31, 2003. The quarterly dividend of $0.085 represents a 13.33% increase
over the dividends paid for the prior quarter and for the same quarter last
year.

Franklin Resources, Inc. (NYSE:BEN), is 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 approximately $322 billion in
assets under management as of November 30, 2003. For more information, please
call 1-800/DIAL BEN(R) or visit franklintempleton.com.

    CONTACT: Franklin Resources, Inc.
             Stacey Johnston, 650-525-7458 (Corporate Communications)
             Alan Weinfeld, 650-525-8900 (Investor Relations)
             franklintempleton.com