BALL Corp — Director's Dealing 2005

Jan 25, 2005

SEC Form 4/A — Form 4/A

Issuer: BALL CORP (BLL)
CIK: 0000009389
Period of Report: 2004-08-12

Reporting Person: WESTERLUND DAVID A (SR VP, ADMIN & CORP SECRETARY)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-12	Prepaid Variable Forward Contract	$	J	41152	Acquired	2007-08-10	Common Stock (41152)	Indirect

Footnotes

F1: On 8-12-04, Ann B. Westerlund (Seller), an affiliate of David A. Westerlund, entered into a prepaid variable forward contract (Contract) with a broker/dealer (Buyer) for disposition of 20,576 shares of Ball Corp Common Stock (Ball Shares). Contract obligates Seller to deliver to Buyer on 8-10-07 (Settlement Date) a number of Ball Shares equal to $1,486,821.76 (20,576 Ball Shares @$72.26). In exchange Seller initially receives 86.34% of $1,486,821.76 ($62.39/share Purchase Price). Per Contract on Settlement Date, Seller receives up to 120% of $72.26/share price ($86.72/share Ceiling Price) if Ball Shares appreciate above $72.26/share (Floor Price). Ball Shares to be sold by Seller under Contract will be 20,576 base amount & will depend on whether the Ceiling Price is above Floor Price. Buyer received Ball Shares but they will not be sold until 8-10-07. At Seller's option she may deliver cash equivalent to value of required number of Ball Shares to be delivered on Settlement Date.

F2: Correcting entry to the 8/12/04 transaction, which originally showed the new prepaid variable contract as belonging to Mr. Westerlund (direct ownership) rather than his spouse, Ann Westerlund. Corrected ownership from direct to indirect. Since the 8/12/04 transaction, on August 23, 2004, Ball Corporation's stock split doubled the prepaid variable contract shares from 20,576 to 41,152 and lowered the value of the shares by half.