EXHIBIT 21

FRANKLIN FINANCIAL SERVICES CORPORATION

SUBIDIARIES

	FRANKLIN FINANCIAL
	SERVICES CORPORATION
	CHAMBERSBURG, PA
FARMERS AND MERCHANTS		FRANKLIN FUTURE
TRUST COMPANY OF		FUND
CHAMBERSBURG, PA		CHAMBERSBURG, PA
DIRECT - 100%		DIRECT - 100%
FRANKLIN FINANCIAL
PROPERTIES CORPORATION
CHAMBERSBURG, PA
INDIRECT - 100%