FRANKLIN RESOURCES INC — Director's Dealing 2005

Mar 17, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2005-03-16

Reporting Person: SIMPSON MURRAY (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-16	Common Stock, par value $.10	M	10000	$32.9000	Acquired	38014.0000	Direct
2005-03-16	Common Stock, par value $.10	S	9100	$72.0000	Disposed	28914.0000	Direct
2005-03-16	Common Stock, par value $.10	S	900	$72.0600	Disposed	28014.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-03-16	Employee Stock Option (Right to Buy)	$32.9000	M	10000	Disposed	2012-11-09	Common Stock, par value $.10 (10000.0000)	Direct

Footnotes

F1: Of the amount of securities beneficially owned, 9,605 shares represent unvested awards of restricted stock shares.

F2: This report reflects the partial exercise of an option granted on November 12, 2002.