BALL Corp — Director's Dealing 2003

Sep 24, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BALL CORP (BLL)
CIK: 0000009389
Period of Report: 2003-09-23

Reporting Person: HOOVER R DAVID (Director, CHAIRMAN, PRESIDENT & CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-23	Prepaid Variable Forward Contract	$	J	40000	Acquired	2006-09-22	Common Stock (40000)	Indirect

Footnotes

F1: On 9-23-03, the Suzanne A. Hoover Revocable Trust dated 1-30-97 (the Trust) entered into a prepaid variable forward contract (Contract) with a broker/dealer (Buyer) for the disposition by the Trust of between 33,333 & 40,000 shares of Ball Corp. Common Stock (Ball Shares). The Contract obligates the Trust to deliver to Buyer on 9-22-06 (Settlement Date), a number of Ball Shares equal to $2,161,600 (currently 40,000 shares @$54.04). In exchange, the Trust initially receives 83.99% of $2,161,600. Per the Contract, on the Settlement Date the Trust receives up to 120% of the $54.04 per share price (Ceiling Price) if Ball Shares appreciate above $54.04 per share (Floor Price). The number of shares to be sold by the Trust will be between 33,333 & 40,000 Ball Shares & will depend on whether the Ceiling Price is above the Floor Price. At the Trust's option, it may deliver cash in an amount equivalent to the value of the required number of Ball Shares to be delivered on the Settlement Date.

F2: The reporting person expressly disclaims beneficial ownership of these securities; 40,000 of these shares are committed for use in a prepaid variable forward contract dated 9-23-03.