BAXTER INTERNATIONAL INC — Director's Dealing 2008

Sep 24, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2008-09-22

Reporting Person: White Cheryl L (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-09-22	Common Stock, $1 par value	M	18900	$41.34	Acquired	35818	Direct
2008-09-22	Common Stock, $1 par value	M	6000	$41.34	Acquired	41818	Direct
2008-09-22	Common Stock, $1 par value	M	10200	$41.34	Acquired	52018	Direct
2008-09-22	Common Stock, $1 par value	S	30000	$64.92	Disposed	22018	Direct
2008-09-22	Common Stock, $1 par value	S	5100	$65.90	Disposed	16918	Direct
2008-09-22	Common Stock, $1 par value	M	2300	$41.34	Acquired	19218	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-09-22	Stock Option (Right to Buy)	$41.34	M	18900	Disposed	2010-11-12	Common Stock, $1 par value (18900)	Direct
2008-09-22	Stock Option (Right to Buy)	$41.34	M	6000	Disposed	2010-11-12	Common Stock, $1 par value (6000)	Direct
2008-09-22	Stock Option (Right to Buy)	$41.34	M	12500	Disposed	2010-11-12	Common Stock, $1 par value (12500)	Direct

Footnotes

F1: Transaction effected pursuant to a Rule 10b5-1 trading plan

F2: Price reflects weighted average sales price. Range of prices for transaction is $64.61 through $65.30. Full information regarding the number of shares sold at each separate price will be provided by the issuer upon request.