FRANKLIN RESOURCES INC — Director's Dealing 2004

Dec 18, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2004-12-15

Reporting Person: FLANAGAN MARTIN L (President and Co-CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-12-15	Common Stock, par value $.10	S	7975	$68.0700	Disposed	648521.0000	Direct
2004-12-15	Common Stock, par value $.10	A	15625	—	Acquired	664146.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	769.6670	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 73,132 shares represent unvested awards of restricted stock shares.

F2: Shares represent a pro-rata number of shares equivalent to Mr. Flanagan's percentage of ownership of the holdings of the Franklin Resources, Inc. Profit Sharing Plan as of September 30, 2004. Mr. Flanagan disclaims beneficial ownership of such shares.