FRANKLIN RESOURCES INC — Director's Dealing 2006

Feb 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRANKLIN RESOURCES INC (BEN)
CIK: 0000038777
Period of Report: 2006-02-02

Reporting Person: LUSK JOHN M (EVP-Portfolio Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-02	Common Stock, par value $.10	S	1000	$98.0700	Disposed	19956.8755	Direct
2006-02-02	Common Stock, par value $.10	S	200	$98.0400	Disposed	19756.8755	Direct
2006-02-02	Common Stock, par value $.10	S	400	$98.0500	Disposed	19356.8755	Direct
2006-02-02	Common Stock, par value $.10	S	1200	$98.0000	Disposed	18156.8755	Direct
2006-02-02	Common Stock, par value $.10	S	200	$98.0600	Disposed	17956.8755	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10	396.5190	Indirect

Footnotes

F1: Of the amount of securities beneficially owned, 11,550 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 December 15, 2005.