  A measurement of the vector to pseudoscalar conversion decay $\phi \to \pi^0
e^+e^-$ with the KLOE experiment is presented. A sample of $\sim 9500$ signal
events was selected from a data set of 1.7 fb$^{-1}$ of $e^+e^-$ collisions at
$\sqrt{s} \sim m_{\phi}$ collected at the DA$\Phi$NE $e^+e^-$ collider. These
events were used to obtain the first measurement of the transition form factor
$| F_{\phi \pi^0}(q^2) |$ and a new measurement of the branching ratio of the
decay: $\rm{BR}\,(\phi \to \pi^0 e^+e^-) = (\,1.35 \pm
0.05^{\,\,+0.05}_{\,\,-0.10}\,) \times 10 ^{-5}$. The result improves
significantly on previous measurements and is in agreement with theoretical
predictions.
