BAXTER INTERNATIONAL INC — Director's Dealing 2007

Feb 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2007-02-01

Reporting Person: GATLING JAMES M (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-01	Common Stock, $1 par value	M	25084	$22.7224	Acquired	164703	Direct
2007-02-01	Common Stock, $1 par value	S	25084	$50.00	Disposed	139619	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-01	Stock Option (Right to Buy)	$22.7224	M	25084	Disposed	2007-02-16	Common Stock, $1 par value (25084)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $1 par value	8214	Indirect

Footnotes

F1: Number of shares in 401(k) Plan is reported as of plan statement dated January 31, 2007.