Franklin Universal Trust Reports Asset Allocation

SAN MATEO, CA -- (Marketwired) -- 05/07/13 -- 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 March 31, 2013. This portfolio information and other Franklin Universal Trust information can be found at https://www.franklintempleton.com/retail/jsp_app/products/closed_end_fund.jsp?fundNumber=002).

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, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and over $823 billion in assets under management as of March 31, 2013. For more information, please call 1-800/DIAL BEN® or visit franklintempleton.com.

FRANKLIN UNIVERSAL TRUST ASSET ALLOCATION at March 31, 2013
============================================================================
                                    MARKET                      PERCENTAGE
SECURITY                            VALUE                       OF FUND (1)
----------------------------------- -------------               ------------
High Yield & Investment Grade
 Corporate Bonds & Preferred
 Securities                         $ 158,669,523                      65.8%

Utilities - Common & Preferred
 Stocks                             $  74,273,649                      30.8%

Other Investments                   $   2,670,351                       1.1%

Cash & Other Net Assets             $   5,550,907                       2.3%
                                    -------------               ------------
Total Investments (1,2)             $ 241,164,430                     100.0%
=================================== ============= ============= ============
                                    MARKET                      PERCENTAGE
10 LARGEST HOLDINGS BY ISSUER       VALUE                       OF FUND (1)
----------------------------------- -------------               ------------
Duke Energy Corp.                   $   6,716,027                       2.8%
Dominion Resources Inc.             $   5,818,000                       2.4%
Southern Co.                        $   5,090,820                       2.1%
Centerpoint Energy Inc.             $   4,068,408                       1.7%
Pinnacle West Capital Corp.         $   4,052,300                       1.7%
Sempra Energy                       $   3,997,000                       1.7%
Nextera Energy Inc.                 $   3,884,000                       1.6%
Edison International                $   3,774,000                       1.6%
Alliant Energy Corp.                $   3,658,122                       1.5%
American Electric Power Co. Inc.    $   3,647,250                       1.5%
                                    -------------               ------------
Total (2)                           $  44,705,927                      18.5%
=================================== ============= ============= ============
% OF GROSS ASSETS IN DEFAULT:       MARKET                      PERCENTAGE
ISSUER(3)                           VALUE                       OF FUND (1)
----------------------------------- -------------               ------------
Fontainebleau Las Vegas             $       1,008                       0.0%
                                    -------------               ------------
Total (2)                           $       1,008                       0.0%
Note: The value of these defaulted securities is reflected in
 the Fund's net asset value. Percentages are rounded.

=================================== ============= ============= ============
Number of positions                                         248
NAV per share                                     $        7.92 (4)
Market price per share                            $        7.54 (4)
Number of shares outstanding                         25,131,894
Total net assets                                  $ 199,164,430

(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) Includes issuers that have defaulted or have missed scheduled bond
 payments.
(4) These figures are rounded to two decimal places.

You may request a copy of the Fund's current Report to Shareholders by
 contacting Franklin Templeton's Fund Information Department at 1-800/DIAL
 BEN® (1-800-342-5236) or by visiting franklintempleton.com. All investments
 involve risks, including possible loss of principal. Bond prices generally
 move in the opposite direction of interest rates. As the prices of bonds in
 a fund adjust to a rise in interest rates, the fund's share price may
 decline. Investments in lower-rated bonds include higher risk of default
 and loss of principal. Stock prices fluctuate, sometimes rapidly and
 dramatically, due to factors affecting individual companies, particular
 industries or sectors, or general market conditions. In addition to other
 factors, securities issued by utility companies have historically been
 sensitive to interest rate changes. When interest rates fall, utility
 securities prices, and thus a utilities fund's share price, tend to rise;
 when interest rates rise, their prices generally fall. The Fund is actively
 managed but there is no guarantee that the manager's investment decisions
 will produce the desired results. This press release contains statistical
 data regarding the Fund's portfolio. The Fund's complete portfolio holdings
 are publicly available on a quarterly basis on Form N-Q, as well as in the
 Fund's Annual and Semi-Annual Reports to Shareholders filed with the U.S.
 Securities and Exchange Commission. These documents may be found at
 sec.gov. For portfolio management discussions, including information
 regarding the Fund's investment strategies, please view the most recent
 Annual or Semi-Annual Report to Shareholders which can be found at
 franklintempleton.com or sec.gov.