BAXTER INTERNATIONAL INC — Director's Dealing 2004

Mar 30, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2004-03-26

Reporting Person: PERSKY MARLA (Acting General Counsel)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1 par value	48426	Direct
Common Stock, $1 par value	1930	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (Right to Buy)	$24.3966	2006-11-17	Common Stock, $1 par value (25084)		Direct
Employee Stock Option (Right to Buy)	$22.7224	2007-02-16	Common Stock, $1 par value (12542)		Direct
Employee Stock Option (Right to Buy)	$22.543	2007-11-16	Common Stock, $1 par value (12542)		Direct
Employee Stock Option (Right to Buy)	$26.8782	2008-02-15	Common Stock, $1 par value (4808)		Direct
Employee Stock Option (Right to Buy)	$29.2102	2008-11-14	Common Stock, $1 par value (17350)		Direct
Employee Stock Option (Right to Buy)	$32.3794	2009-02-13	Common Stock, $1 par value (13546)		Direct
Employee Stock Option (Right to Buy)	$31.4525	2009-11-13	Common Stock, $1 par value (17350)		Direct
Employee Stock Option (Right to Buy)	$41.3438	2010-11-12	Common Stock, $1 par value (30000)		Direct
Employee Stock Option (Right to Buy)	$41.3438	2010-11-12	Common Stock, $1 par value (8400)		Direct
Employee Stock Option (Right to Buy)	$41.3438	2010-11-12	Common Stock, $1 par value (46900)		Direct
Employee Stock Option (Right to Buy)	$49.54	2011-11-25	Common Stock, $1 par value (49335)		Direct
Employee Stock Option (Right to Buy)	$30.06	2012-11-16	Common Stock, $1 par value (23595)		Direct
Employee Stock Option (Right to Buy)	$27.13	2013-11-18	Common Stock, $1 par value (22523)		Direct