CUMMINS INC — Director's Dealing 2003

Dec 22, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2003-12-19

Reporting Person: ROSE MARYA M (V.P. - General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-19	Common	M	3400	$29.16	Acquired	0	Direct
2003-12-19	Common	S	3400	$50	Disposed	4441	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-19	Stock Option (Right-to-Buy)	$29.16	M	3400	Disposed	2011-09-21	Common (3400)	Direct

Footnotes

F1: Cashless exercise pursuant to Rule 10b5-1 Trading Plan.