FRANKLIN RESOURCES INC — Director's Dealing 2004

Nov 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2004-11-08

Reporting Person: IKEDA DONNA S (Vice President)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-08	Employee Stock Option (Right to Buy)	$55.8091	A	1506	Acquired	2009-09-30	Common Stock, par value $.10 (1506.0000)	Direct

Footnotes

F1: The option becomes exercisable in three approximately equal increments on each of September 30, 2005, September 29, 2006, and September 28, 2007.