Fiduciary Trust International Elects Paul K. Napoli to Board of Directors

NEW YORK, NY--(Marketwire - Aug 2, 2011) - Fiduciary Trust Company International, a leading wealth management firm headquartered in New York City, today announced that Paul K. Napoli has been elected to the Board of Directors. Mr. Napoli, a 40-year veteran of the wealth management industry, will also serve as a member of the firm's audit committee.

"Paul's vast experience in understanding the needs and concerns of wealthy families, as well as his extensive knowledge of broader trends affecting the wealth management industry will provide our organization with valuable strategic perspective," said Henry P. Johnson, president and chief executive officer of Fiduciary Trust. "There are few individuals whose leadership and contributions to the industry match that of Paul's. We welcome him to the board and look forward to the depth of experience and insights he will bring to the firm."

Mr. Napoli's experience spans more than four decades. He served at U.S. Trust for 25 years, retiring as Vice Chairman in 2008, having served on the firm's management committee since 1992. Prior to joining U.S. Trust, he was vice president and portfolio manager at The Bank of New York. Mr. Napoli is a Chartered Financial Analyst and Certified Trust and Financial Advisor. He is a member of the New York Society of Security Analysts, the Association for Investment Management and Research and serves on the Rockefeller University Trust and Estate Council. Mr. Napoli is a financial advisor to St. Peter's Prep and St. Benedict's Prep and a past member of the Advisory Board of the Salvation Army.

Fiduciary Trust Company International, a leading wealth management firm, has served individuals, families, endowments and foundations since 1931. The firm specializes in strategic wealth planning, investment management, trust and estate services, as well as tax, custody and banking services. The firm and its subsidiaries maintain offices in New York, Miami, Sarasota, St. Petersburg, Los Angeles, San Mateo, Washington, D.C., Wilmington, London, Hong Kong and Grand Cayman. For more information, please visit fiduciarytrust.com.

Fiduciary Trust Company International 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, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience and over $734 billion in assets under management as of June 30, 2011. For more information, please visit franklintempleton.com.

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