-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HUvWTzvI9tE+vcLbkLgDozSYipGNIDbZwSvt6d8PAUN5GOSptO6KNDfuk2hzuP1t
 JvdaV12m2WAqppCplzMDPg==

<SEC-DOCUMENT>0000038777-03-000553.txt : 20031030
<SEC-HEADER>0000038777-03-000553.hdr.sgml : 20031030
<ACCEPTANCE-DATETIME>20031030195322
ACCESSION NUMBER:		0000038777-03-000553
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031029
FILED AS OF DATE:		20031030

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JOHNSON GREGORY E
		CENTRAL INDEX KEY:			0001010262

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09318
		FILM NUMBER:		03967970

	BUSINESS ADDRESS:	
		STREET 1:		C/O FRANKLIN RESOURCES INC
		STREET 2:		777 MARINERS ISLAND BLVD
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94404
		BUSINESS PHONE:		4153126505

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN RESOURCES INC
		CENTRAL INDEX KEY:			0000038777
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				132670991
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		STREET 2:		BUILDING 920
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		FRANKLIN RESOURCES INC
		STREET 2:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>joh219.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-10-29</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000038777</issuerCik>
        <issuerName>FRANKLIN RESOURCES INC</issuerName>
        <issuerTradingSymbol>BEN</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001010262</rptOwnerCik>
            <rptOwnerName>JOHNSON GREGORY E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O FRANKLIN RESOURCES, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>ONE FRANKLIN PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>SAN MATEO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>944031906</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>0</isDirector>
			<isOfficer>1</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
			<officerTitle>President</officerTitle>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeTable>
		<nonDerivativeTransaction>
			<securityTitle>
				<value>Common Stock, par value $.10</value>
			</securityTitle>
			<transactionDate>
				<value>2003-10-29</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>M</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>50000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>32.8750</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>A</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>473846.0000</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeTransaction>
		<nonDerivativeTransaction>
			<securityTitle>
				<value>Common Stock, par value $.10</value>
			</securityTitle>
			<transactionDate>
				<value>2003-10-29</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>S</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>50000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>47.9367</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>423846.0000</value>
					<footnoteId id="F1"/>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeTransaction>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Common Stock, par value $.10</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>13796.0000</value>
					<footnoteId id="F2"/>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>As a Trustee for Minor Child</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
		<nonDerivativeHolding>
			<securityTitle>
				<value>Common Stock, par value $.10</value>
			</securityTitle>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>2640.0000</value>
					<footnoteId id="F3"/>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>I</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value>By Spouse</value>
				</natureOfOwnership>
			</ownershipNature>
		</nonDerivativeHolding>
	</nonDerivativeTable>
	<derivativeTable>
		<derivativeTransaction>
			<securityTitle>
				<value>Employee Stock Option (Right to Buy)</value>
			</securityTitle>
			<conversionOrExercisePrice>
				<value>32.8750</value>
			</conversionOrExercisePrice>
			<transactionDate>
				<value>2003-10-29</value>
			</transactionDate>
			<deemedExecutionDate>
			</deemedExecutionDate>
			<transactionCoding>
				<transactionFormType>4</transactionFormType>
				<transactionCode>M</transactionCode>
				<equitySwapInvolved>0</equitySwapInvolved>
			</transactionCoding>
			<transactionAmounts>
				<transactionShares>
					<value>50000</value>
				</transactionShares>
				<transactionPricePerShare>
					<value>32.8750</value>
				</transactionPricePerShare>
				<transactionAcquiredDisposedCode>
					<value>D</value>
				</transactionAcquiredDisposedCode>
			</transactionAmounts>
			<exerciseDate>
				<value>2000-09-29</value>
				<footnoteId id="F4"/>
			</exerciseDate>
			<expirationDate>
				<value>2007-09-28</value>
			</expirationDate>
			<underlyingSecurity>
				<underlyingSecurityTitle>
					<value>Common Stock, par value $.10</value>
				</underlyingSecurityTitle>
				<underlyingSecurityShares>
					<value>50000.0000</value>
				</underlyingSecurityShares>
			</underlyingSecurity>
			<postTransactionAmounts>
				<sharesOwnedFollowingTransaction>
					<value>26264.0000</value>
				</sharesOwnedFollowingTransaction>
			</postTransactionAmounts>
			<ownershipNature>
				<directOrIndirectOwnership>
					<value>D</value>
				</directOrIndirectOwnership>
				<natureOfOwnership>
					<value/>
				</natureOfOwnership>
			</ownershipNature>
		</derivativeTransaction>
	</derivativeTable>
	<footnotes>
		<footnote id="F1">Shares represent grants of awards of common stock under the Franklin Resources, Inc. 2002 Universal Stock Incentive Plan (the ''2002 Plan''). Unvested balances for the fiscal years 2002 is 9,396 shares. The holder is entitled to receive dividends and vote such shares, however, such shares are subject to vesting requirements under the 2002 Plan.</footnote>
		<footnote id="F2">Shares are held by Mr. Johnson as Trustee for Mr. Johnson's minor children. Mr. Johnson disclaims any beneficial ownership of such shares.</footnote>
		<footnote id="F3">Shares are held by a member of Mr. Johnson's immediate family. Mr. Johnson disclaims any beneficial ownership of such shares.</footnote>
		<footnote id="F4">This report reflects the exercise of 50,000 shares out of a total of 76,264 shares available under an option granted on November 17, 1999.</footnote>
	</footnotes>
	<remarks>
	</remarks>
	<ownerSignature>
		<signatureName>/s/ JOHNSON, GREGORY E.</signatureName>
		<signatureDate>2003-10-30</signatureDate>
	</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
