FRANKLIN RESOURCES INC — Director's Dealing 2006

Nov 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2006-10-30

Reporting Person: GREEN BARBARA J (VP, Dep Gen Counsel & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-30	Common Stock, par value $.10	M	5000	$36.3000	Acquired	16068.5468	Direct
2006-10-30	Common Stock, par value $.10	S	5000	$113.3040	Disposed	11068.5468	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-30	Employee Stock Option (Right to Buy)	$36.3000	M	5000	Disposed	2011-11-19	Common Stock, par value $.10 (5000.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	448.2110	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 2,314 shares represent unvested awards of restricted stock shares.

F2: Reporting person holds shares in Franklin Templeton Profit Sharing 401(k) Plan. Information is based on a plan statement as of September 15, 2006.

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 orginally granted on November 19, 2001.