FRANKLIN RESOURCES INC — Director's Dealing 2005

Sep 17, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2005-09-14

Reporting Person: KRATTER LESLIE M (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-09-14	Common Stock, par value $.10	M	25743	$36.3000	Acquired	84929.3231	Direct
2005-09-14	Common Stock, par value $.10	S	25743	$81.1036	Disposed	59186.3231	Direct
2005-09-14	Common Stock, par value $.10	M	2101	$47.5700	Acquired	61287.3231	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-09-14	Employee Stock Option (Right to Buy)	$36.3000	M	25743	Disposed	2011-11-19	Common Stock, par value $.10 (25743.0000)	Direct
2005-09-14	Employee Stock Option (Right to Buy)	$47.5700	M	2101	Disposed	2013-11-11	Common Stock, par value $.10 (2101.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	12864.0000	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 9,001 shares represent unvested awards of restricted stock shares.

F2: Shares are held by a member of Mr. Kratter's immediate family. Mr. Kratter disclaims beneficial ownership of such shares under Section 16 of the Securities Exchange Act of 1934.

F3: Reflects adjustment in connection with the special cash dividend paid by Franklin Resources, Inc. on April 15, 2005.

F4: This report reflects the exercise of options originally granted on November 19, 2001.

F5: This report reflects the exercise of options originally granted on November 12, 2003.