FRANKLIN RESOURCES INC — Director's Dealing 2006

Aug 17, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2006-08-15

Reporting Person: Yun William Young (EVP-Institutional)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-15	Common Stock, par value $.10	M	6800	$31.9500	Acquired	108146.0401	Direct
2006-08-15	Common Stock, par value $.10	S	6800	$94.1160	Disposed	101346.0401	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-15	Employee Stock Option (Right to Buy)	$31.9500	M	6800	Disposed	2012-11-09	Common Stock, par value $.10 (6800.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	4398.1120	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 17,909 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 June 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 12, 2002.