Franklin Resources Announces 10M Share Buyback Program

On December 16, 2011, the Board of Directors of Franklin Resources, Inc.

authorized the Company to repurchase, from time to time, up to an aggregate of 10.0 million shares of its common stock in either open market or off-market transactions. The size and timing of these purchases will depend on price, market and business conditions and other factors. The stock repurchase program is not subject to an expiration date. The new Board of Directors authorization is in addition to the existing authorization, of which approximately 3.0 million shares remained available for repurchase at November 30, 2011. The Company repurchased an aggregate of 9.99 million shares during the period October 1, 2010 to November 30, 2011. Shares repurchased under the program are retired.