EXHIBIT 99

     (Franklin Financial Services Corporation Letterhead)

                        PRESS RELEASE


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

     CHAMBERSBURG, PENNSYLVANIA, March 7, 2002 - 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 50,000 shares of its
$1.00 par value common stock, representing approximately 1.85% 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 62,500 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 $500
million.  Its wholly-owned subsidiary, Farmers and Merchants Trust Company
of Chambersburg, is an independent community bank which operates 11
banking offices in Franklin and Cumberland Counties, Pennsylvania.