FRANKLIN RESOURCES INC — Director's Dealing 2004

Nov 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2004-11-24

Reporting Person: JOHNSON GREGORY E (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-24	Common Stock, par value $.10	A	37373	$62.8800	Acquired	483632.0000	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	14652.0000	Indirect
Common Stock, par value $.10	1235.5460	Indirect
Common Stock, par value $.10	3068.0000	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 57,507 shares represent unvested awards of restricted stock shares.

F2: Shares are held by Mr. Johnson as Trustee for Mr. Johnson's minor children. Mr. Johnson disclaims any beneficial ownership of such shares.

F3: Shares represent a pro-rata number of shares equivalent to Mr. Johnson's percentage of ownership of the holdings of the Franklin Resources, Inc. Profit Sharing Plan as of September 30, 2003. Mr. Johnson disclaims beneficial ownership of such shares.

F4: Shares are held by a member of Mr. Johnson's immediate family. Mr. Johnson disclaims any beneficial ownership of such shares.