BAXTER INTERNATIONAL INC — Director's Dealing 2004

May 25, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2004-05-24

Reporting Person: TUCKER MICHAEL J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-24	Common Stock, $1 par value	M	22450	$11.5765	Acquired	210616	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-24	Stock Option (Right to Buy)	$11.5765	M	22450	Disposed	2004-06-15	Common Stock, $1 par value (22450)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1 par value	14	Indirect