CUMMINS INC — Director's Dealing 2004

Sep 24, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2004-09-22

Reporting Person: MILLS RICK J (President - Fleetguard)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-22	Common	M	4200	$53	Acquired	29606	Direct
2004-09-22	Common	M	1500	$52.88	Acquired	31106	Direct
2004-09-22	Common	M	1500	$52.88	Acquired	32606	Direct
2004-09-22	Common	M	1500	$52.88	Acquired	34106	Direct
2004-09-22	Common	S	1500	$72.88	Disposed	32606	Direct
2004-09-22	Common	S	1500	$72.88	Disposed	31106	Direct
2004-09-22	Common	S	1500	$72.88	Disposed	29606	Direct
2004-09-22	Common	S	4200	$73	Disposed	25406	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-22	Stock Option (Right-to-Buy)	$52.88	M	1500	Disposed	2007-02-11	Common (1500)	Direct
2004-09-22	Stock Option (Right-to-Buy)	$52.88	M	1500	Disposed	2007-02-11	Common (1500)	Direct
2004-09-22	Stock Option (Right-to-Buy)	$52.88	M	1500	Disposed	2007-02-11	Common (1500)	Direct
2004-09-22	Stock Option (Right-to-Buy)	$53	M	4200	Disposed	2007-02-10	Common (4200)	Direct

Footnotes

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