LEVEL 1 ------------------------------------------------------------------------------- Hello. Can I please speak with _________? Good evening, I am calling on behalf of your current investment with Franklin Universal Trust. Recently we sent you proxy material for the upcoming shareholder meeting scheduled to take place on March 30, 2007. I wanted to confirm whether you received this information? ------------------------------------------------------------------------------- YES NO ----------------------- Great. Did you have No a chance to review it? ----------------------- ------------------- Yes Sorry to hear that. I can send it out once again. ------------------- Is the correct ---------------------- If you would like I address 50 Birch As a convenience, we can review the Street, NY NY can go ahead and meeting agenda 10165? If no, enter record your recording with you right now new address. instructions over the and would be happy phone right now to answer any Okay you will instead of sending in questions you receive the the proxy card if you may have. Would material shortly. are interested? you like to do so? -------------------- ---------------------- ------------------- -------------------- Once you receive Yes No YES NO the material you can contact us to answer any questions you may have and also issue your vote over the phone instead of mailing back the card. Our number is 800-336-5159 ----------------------- -------------------- Great. Your Board of Trustees is recommending a vote in (favor) for the trustee proposal and an (against) vote for the shareholder proposal. Would you like to go along with their recommendations? ----------------------- ------------------- Yes No When you have a ------------ moment, please Review each review the proxy proposal. material and vote ------------ you shares by either contacting us directly at 800-336-5159 or by signing the proxy -------------------- card enclosed with "Confirm City State the material. and Zip." -------------------- Thank you. You will receive a written confirmation of this vote for your records. -------------------- -------------------- Your vote is very important and your time is greatly appreciated. Thank you and have a nice day/evening. ---------------------