BAXTER INTERNATIONAL INC — Director's Dealing 2004

Sep 15, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2004-09-14

Reporting Person: DEL SALTO CARLOS (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-14	Common Stock, $1 par value	M	83618	$20.1535	Acquired	112055.025	Direct
2004-09-14	Common Stock, $1 par value	S	18	$32.00	Disposed	112037.025	Direct
2004-09-14	Common Stock, $1 par value	S	9600	$32.03	Disposed	102437.025	Direct
2004-09-14	Common Stock, $1 par value	S	17400	$32.04	Disposed	85037.025	Direct
2004-09-14	Common Stock, $1 par value	S	9700	$32.05	Disposed	75337.025	Direct
2004-09-14	Common Stock, $1 par value	S	10400	$32.06	Disposed	64937.025	Direct
2004-09-14	Common Stock, $1 par value	S	6300	$32.07	Disposed	58637.025	Direct
2004-09-14	Common Stock, $1 par value	S	20100	$32.08	Disposed	38537.025	Direct
2004-09-14	Common Stock, $1 par value	S	10100	$32.10	Disposed	28437.025	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-14	Stock Option (Right to Buy)	$20.1535	M	83618	Disposed	2006-11-27	Common Stock, $1 par value (83618)	Direct