EXHIBIT (B)(2)
                                CERTIFICATIONS

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Jimmy D. Gambill, Chief Executive Officer of the Franklin Value Investors
Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350 as
adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to
my knowledge:

1. The Registrant's periodic report on Form N-CSR of the Franklin Value
Investors Trust for the period ended 4/30/03 (the "Form N-CSR") fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

2. The information contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  June 6, 2003

/S/JIMMY D. GAMBILL
Chief Executive Officer - Finance and Administration

A signed original of this written statement required by Section 906 has
been provided to Franklin Value Investors Trust and will be retained by
Franklin Value Investors Trust and furnished to the Securities and
Exchange Commission or its staff upon request.











CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350
AS ADOPTED PURUSANT TO SECTION 906
OF THE SARBANES-OXLEY ACT OF 2002

I, Kimberley H. Monasterio, Chief Financial Officer of the Franklin Value
Investors Trust (the "Registrant"), certify, pursuant to 18 U.S.C. Section 1350
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to
my knowledge:

1. The Registrant's periodic report on Form N-CSR of the Franklin Value
Investors Trust for the period ended 4/30/03 (the "Form N-CSR") fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

2. The information contained in the Form N-CSR fairly presents, in all material
respects, the financial condition and results of operations of the Registrant.

Dated:  June 6, 2003


/S/KIMBERLEY H. MONASTERIO
Treasurer and Chief Financial Officer

A signed original of this written statement required by Section 906 has been
provided to Franklin Value Investors Trust and will be retained by Franklin
Value Investors Trust and furnished to the Securities and Exchange Commission
or its staff upon request.