Franklin Universal Trust Reports PortfolioBreakdown.

SAN MATEO, Calif.--(BUSINESS WIRE)--June 17, 1998--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 April 30, 1998.

Franklin Advisers,

FRANKLIN UNIVERSAL TRUST (002) -- PORTFOLIO BREAKDOWN @ 4/30/98

                                                MARKET     PERCENTAGE
SECURITY                                        VALUE      OF FUND
--------                                      -----------  ----------

Corporate Bonds                               $228,481,643   65.63%

Convertible Bonds                             $  6,428,813    1.85%

Utilities Stocks                              $ 68,615,283   19.71%

Natural Resources Equities
 & Preferred Stocks                           $  5,925,036    1.70%

Misc. Equities & Preferred Stocks             $ 36,523,312   10.49%

Foreign Denominated Corporate Bonds           $          0    0.00%

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

Foreign Government Agencies                   $    761,021    0.22%

Cash & Equivalents                            $  1,379,270    0.40%
                                              ------------  --------
Total Gross Market Value                      $348,114,378  100.00%


                                  MARKET             PERCENTAGE
TEN LARGEST HOLDINGS:             VALUE                OF FUND
--------------------            ----------           ----------
Cablevision                     $7,670,293              2.20%
DPL                             $7,584,188              2.18%
Cinergy                         $7,170,300              2.06%
Dominion Resources              $5,934,375              1.70%
American Electric Power         $5,901,900              1.70%
Collins & Aikman                $5,690,250              1.63%
Texas Utilities Holding         $5,660,000              1.63%
Southern Company                $5,533,200              1.59%
Comcast Corp.                   $5,245,000              1.51%
Nextel Communications           $4,837,500              1.39%

Total                          $61,227,006             17.59%

% OF GROSS ASSETS IN DEFAULT:     MARKET              PERCENTAGE
ISSUER                            VALUE                 OF FUND


Harvard Industries Inc.         $1,460,000              0.42%

Total                           $1,460,000              0.42%

     Note: The lower value of this defaulted security is reflected in
the fund's net asset value. All percentages are rounded to two decimal
places.

Number of Positions                                      158
NAV per share                                        $ 10.36 (a)
NYSE Closing Price per share                          $ 9.69 (a)
Number of shares outstanding                   26,779,333.48
Asset Coverage (Investment Company Act)               469.90%
NAV x No. of Shares                         $ 277,424,776 (b)

(a)  These figures are rounded to two decimal places.
(b)  This number is based on the net asset value per share carried out
     to eight decimal places, multiplied by the number of shares
     outstanding.



    CONTACT: Franklin Advisers, Inc.
              Nicole McCarroll, 650/525-7458