FRANKLIN RESOURCES INC — Director's Dealing 2003

Aug 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2003-08-07

Reporting Person: TATLOCK ANNE M (Director, Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-07	Common Stock, par value $.10	S	300	$43.6100	Disposed	262699.0000	Direct
2003-08-07	Common Stock, par value $.10	S	4400	$43.6200	Disposed	258299.0000	Direct
2003-08-07	Common Stock, par value $.10	S	100	$43.6400	Disposed	258199.0000	Direct
2003-08-07	Common Stock, par value $.10	S	300	$43.6500	Disposed	257899.0000	Direct
2003-08-07	Common Stock, par value $.10	S	200	$43.6600	Disposed	257699.0000	Direct
2003-08-07	Common Stock, par value $.10	S	4700	$43.6800	Disposed	252999.0000	Direct
2003-08-07	Common Stock, par value $.10	S	700	$43.6900	Disposed	252299.0000	Direct
2003-08-07	Common Stock, par value $.10	S	800	$43.7000	Disposed	251499.0000	Direct
2003-08-07	Common Stock, par value $.10	S	1600	$43.7200	Disposed	249899.0000	Direct
2003-08-07	Common Stock, par value $.10	S	1900	$43.7300	Disposed	247999.0000	Direct
2003-08-07	Common Stock, par value $.10	S	600	$43.7400	Disposed	247399.0000	Direct
2003-08-07	Common Stock, par value $.10	S	5900	$43.7500	Disposed	241499.0000	Direct
2003-08-07	Common Stock, par value $.10	S	500	$43.7600	Disposed	240999.0000	Direct
2003-08-07	Common Stock, par value $.10	S	900	$43.7700	Disposed	240099.0000	Direct
2003-08-07	Common Stock, par value $.10	S	300	$43.7800	Disposed	239799.0000	Direct
2003-08-07	Common Stock, par value $.10	S	300	$43.7900	Disposed	239499.0000	Direct
2003-08-07	Common Stock, par value $.10	S	200	$43.8000	Disposed	239299.0000	Direct
2003-08-07	Common Stock, par value $.10	S	600	$43.8100	Disposed	238699.0000	Direct
2003-08-07	Common Stock, par value $.10	S	500	$43.8200	Disposed	238199.0000	Direct
2003-08-07	Common Stock, par value $.10	S	200	$43.8400	Disposed	237999.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	38201.5251	Indirect
Common Stock, par value $.10	2621.0000	Indirect

Footnotes

F1: Shares represent grant of award of common stock under the Franklin Resources, Inc. 2002 Universal Stock Incentive Plan (the ''2002 Plan''), including the unvested balance for fiscal year 2001 of 1,247 shares and the unvested balances for fiscal year 2002 of 5862, 7,543, and 7,000 shares, respectively. The holder is entitled to receive dividends and vote such shares, however, such shares are subject to vesting requirements under the 2002 Plan.

F2: Shares are held in connection with an employee benefit plan.

F3: Shares are held by Mrs. Tatlock's spouse as the trustee for Ms. Tatlock's minor child. Ms. Tatlock disclaims any beneficial ownership of such shares.