BRUNSWICK CORP — Director's Dealing 2004

Jan 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BRUNSWICK CORP (BC)
CIK: 0000014930
Period of Report: 2004-01-15

Reporting Person: GRODZKI KEVIN (VP & PRESIDENT LIFE FITNESS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-15	Common Stock	M	5500	$18.875	Acquired	35250	Direct
2004-01-15	Common Stock	S	5500	$33.03	Disposed	29750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-15	Non-Qualified Stock Option (right to buy)	$18.875	M	5500	Disposed	2010-07-26	Common Stock (5500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	50	Indirect
Common Stock	239	Indirect
Common Stock	435	Indirect

Footnotes

F1: Amount of Securities Beneficially Owned Following Reported Transactions includes 283 shares acquired pursuant to dividend reinvestment during 2003.

F2: This transaction was effected pursuant to a Rule10b5-1 trading plan adopted by the reporting person December 12, 2003.

F3: Employee Stock Option granted under the 1991 Stock Plan with right to have shares withheld or to deliver previously acquired shares to pay income taxes on exercise of option.

F4: One-fourth of the total shares granted may be exercised on each of the first, second, third, and fourth anniversaries following grant date.