BAXTER INTERNATIONAL INC — Director's Dealing 2008

Aug 22, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BAXTER INTERNATIONAL INC (BAX)
CIK: 0000010456
Period of Report: 2008-08-20

Reporting Person: Arduini Peter J (Corporate Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-08-20	Common Stock, $1 par value	M	46400	$34.07	Acquired	86255	Direct
2008-08-20	Common Stock, $1 par value	S	46400	$68.94	Disposed	39855	Direct
2008-08-20	Common Stock, $1 par value	M	3600	$34.07	Acquired	43455	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-08-20	Stock Option (Right to Buy)	$34.07	M	46400	Disposed	2015-04-17	Common Stock, $1 par value (46400)	Direct
2008-08-20	Stock Option (Right to Buy)	$34.07	M	3600	Disposed	2015-04-17	Common Stock, $1 par value (3600)	Direct

Footnotes

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