FRANKLIN RESOURCES INC — Director's Dealing 2005

Sep 20, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2005-09-15

Reporting Person: GIBSON HOLLY E (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-09-15	Common Stock, par value $.10	M	1566	$36.3000	Acquired	8493.9440	Direct
2005-09-15	Common Stock, par value $.10	S	1566	$80.5572	Disposed	6927.9440	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-09-15	Employee Stock Option (Right to Buy)	$36.3000	M	1566	Disposed	2011-11-19	Common Stock, par value $.10 (1566.0000)	Direct

Footnotes

F1: Of the amount of securities beneficially owned, 3,452 shares represent unvested awards of restricted stock shares.

F2: Reflects adjustment in connection with the special cash dividend paid by Franklin Resources, Inc. on April 15, 2005.

F3: This report reflects the exercise of options originally granted on November 19, 2001.