FRANKLIN RESOURCES INC — Director's Dealing 2003

Dec 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2003-12-11

Reporting Person: SACERDOTE PETER M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-11	Common Stock, par value $.10	A	511	$49.0100	Acquired	26728.0000	Direct

Footnotes

F1: Shares represent grant of an award of common stock under the Franklin Resources, Inc.'s 2002 Universal Stock Incentive Plan (the ''2002 Plan''). The unvested balance for the fiscal year 2004 is 511 shares. The holder is entitled to receive dividends and vote such shares, however, such shares are subject to vesting requirements under the 2002 Plan.