Franklin Universal Trust Reports Asset Allocation

SAN MATEO, Calif.--(Business Wire)--
Franklin Universal Trust (NYSE:FT), a closed-end investment
company managed by Franklin Advisers, Inc., today reported its
portfolio composition, certain portfolio characteristics and NYSE
closing price as of June 30, 2008.

Franklin Advisers, Inc., is a wholly owned subsidiary of Franklin
Resources, Inc. (NYSE:BEN), a global investment management
organization operating as Franklin Templeton Investments. Franklin
Templeton Investments provides global and domestic investment
management solutions managed by its Franklin, Templeton, Mutual
Series, Fiduciary Trust, Darby and Bissett investment teams. The San
Mateo, CA-based company has more than 60 years of investment
experience and over $580 billion in assets under management as of June
30, 2008. For more information, please call 1-800/DIAL BEN(R) or visit
franklintempleton.com.

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FRANKLIN UNIVERSAL TRUST ASSET ALLOCATION at June 30, 2008
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PERCENTAGE
OF FUND
SECURITY MARKET VALUE (1)
----------------------------------- ------------ ----------
Corporate Bonds $159,058,887 66.8%

Convertible Bonds $0 0.00%

Utilities Common and Preferred
Stocks $71,692,813 30.1%

Natural Resource Common Stocks $2,662,237 1.12%

Misc. Common & Preferred Stocks $1,096 0.00%

Foreign Denominated Corporate Bonds $0 0.00%

Foreign Gov't U.S. Dollar
Denominated Bonds $0 0.00%

Foreign Government Agencies $98,127 0.04%

Cash & Other Net Assets $4,482,384 1.88%
------------ ----------
Total Investments (1,2) $237,995,544 100.00%

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PERCENTAGE
OF FUND
10 LARGEST HOLDINGS BY ISSUER MARKET VALUE (1)
----------------------------------- ------------ ----------
Exelon Corp. $8,996,000 3.8%
Entergy Corp. $6,024,000 2.5%
FirstEnergy Corp. $5,763,100 2.4%
FPL Group Inc. $5,574,300 2.3%
Southern Co. $5,412,600 2.3%
Edison International $5,398,940 2.3%
Dominion Resources Inc. $4,749,000 2.0%
Constellation Energy Group $4,515,500 1.9%
Public Service Enterprise Group
Inc. $4,133,700 1.7%
Centerpoint Energy Inc. $3,636,930 1.5%
------------ ----------
Total (2) $54,204,070 22.78%

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PERCENTAGE
% OF GROSS ASSETS IN DEFAULT: OF FUND
ISSUER MARKET VALUE (1)
----------------------------------- ------------ ----------
Atherton Franchise $7,216 0.00%
PSINet $395 0.00%
------------ ----------
Total (2) $7,611 0.00%
Note: The value of these defaulted securities is reflected in the
Fund's net asset value. Percentages are rounded to two decimal
places.

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Number of positions 137
NAV per share $7.28(3)
Market price per share $6.49(3)
Number of shares outstanding 25,131,894
Asset coverage (Investment Company
Act) 432.72%
Total net assets $182,995,544

(1) Percentage of total investments of the Fund. Total investments of
the Fund include long-term and short-term investments and other net
assets, excluding long-term debt issued by the Fund.
(2) Total figures may not represent exact sum of items as a result of
rounding.
(3) These figures are rounded to two decimal places.
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Franklin Templeton Investments
Shareholders/Financial Advisors: 800-342-5236
Media: 650-312-2245

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