EXHIBIT 99

                        PRESS RELEASE

For Immediate Release    Contract:
                         William E. Snell, Jr., President
                         Franklin Financial Services Corporation
                         (717) 264-6116

     CHAMBERSBURG, PENNSYLVANIA, March 8, 2001 - Franklin
Financial Services Corporation, the parent bank holding company
of Farmers and Merchants Trust Company of Chambersburg, today
announced that its Board of Directors has authorized the
repurchase of up to 75,000 shares of its $1.00 par value common
stock, representing approximately 2.7% of such shares now issued
and outstanding.  The repurchases are authorized to be made from
time to time during the next 12 months in open market or
privately negotiated transactions.

     Franklin Financial has repurchased approximately 45,000
shares of its common stock during the past 12 months under a
repurchase program authorized by the Board of Directors last
year.  According to President and Chief Executive Officer
William E. Snell, Jr., the repurchased shares will be held as
treasury shares available for issuance in connection with future
stock dividends and stock splits, employee benefit plans,
executive compensation plans, the Dividend Reinvestment Plan,
and other appropriate corporate purposes.

     Franklin Financial Services Corporation is a Chambersburg,
Pennsylvania based bank holding company with assets of
approximately $466 million.  Its wholly-owned subsidiary,
Farmers and Merchants Trust Company of Chambersburg, is an
independent community bank which operates 13 banking offices in
Franklin and Cumberland Counties, Pennsylvania.