FRANKLIN RESOURCES INC — Director's Dealing 2006

Aug 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2006-08-11

Reporting Person: FRISBIE NORMAN RICKARD JR (SVP & Chief Admin Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-08-11	Common Stock, par value $.10	M	3431	$36.3000	Acquired	16048.8690	Direct
2006-08-11	Common Stock, par value $.10	S	678	$92.0000	Disposed	15370.8690	Direct
2006-08-11	Common Stock, par value $.10	S	2753	$92.0029	Disposed	12617.8690	Direct
2006-08-11	Common Stock, par value $.10	S	1600	$92.0700	Disposed	11017.8690	Direct
2006-08-11	Common Stock, par value $.10	S	786	$92.1000	Disposed	10231.8690	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-11	Employee Stock Option (Right to Buy)	$36.3000	M	3431	Disposed	2011-11-19	Common Stock, par value $.10 (3431.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	426.1160	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 8,074 shares represent unvested awards of restricted stock shares.

F2: Also includes shares acquired pursuant to Franklin Resources, Inc.'s Employee Stock Investment Plan (''ESIP'').

F3: Reporting person holds shares in Franklin Templeton Profit Sharing 401(k) Plan. Information is based on a plan statement as of June 15, 2006.

F4: Reflects adjustment in connection with the special cash dividend paid by Franklin Resources, Inc. on April 15, 2005.

F5: This report reflects the exercise of options orginally granted on November 19, 2001.