BAXTER INTERNATIONAL INC — Director's Dealing 2005

Jul 29, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2005-07-27

Reporting Person: GATLING JAMES M (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-07-27	Common Stock, $1 par value	M	16838	$16.5897	Acquired	179570	Direct
2005-07-27	Common Stock, $1 par value	F	10000	$39.10	Disposed	169570	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-27	Stock Option (Right to Buy)	$16.5897	M	16838	Disposed	2005-07-29	Common Stock, $1 par value (16838)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1 par value	8060	Indirect

Footnotes

F1: Number of shares in 401(k) Plan is reported as of plan statement dated June 30, 2005.