CUMMINS INC — Director's Dealing 2004

Apr 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2004-04-05

Reporting Person: BLACKWELL JEAN S (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-04-05	Common	M	25000	$37.63	Acquired	42570	Direct
2004-04-05	Common	M	11100	$37.31	Acquired	53670	Direct
2004-04-05	Common	M	500	$37.59	Acquired	54170	Direct
2004-04-05	Common	S	500	$60	Disposed	53670	Direct
2004-04-05	Common	S	11100	$60	Disposed	42570	Direct
2004-04-05	Common	S	25000	$60	Disposed	17570	Direct
2004-04-06	Common	M	11000	$41.19	Acquired	28570	Direct
2004-04-06	Common	M	2900	$50.88	Acquired	31470	Direct
2004-04-06	Common	S	2900	$65	Disposed	28570	Direct
2004-04-06	Common	S	11000	$65	Disposed	17570	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-05	Stock Option (Right-to-Buy)	$37.59	M	500	Disposed	2010-02-04	Common (500)	Direct
2004-04-05	Stock Option (Right-to-Buy)	$37.31	M	11100	Disposed	2010-02-08	Common (11100)	Direct
2004-04-05	Stock Option (Right-to-Buy)	$37.63	M	25000	Disposed	2011-01-02	Common (25000)	Direct
2004-04-06	Stock Option (Right-to-Buy)	$50.88	M	2900	Disposed	2007-04-01	Common (2900)	Direct
2004-04-06	Stock Option (Right-to-Buy)	$41.19	M	11000	Disposed	2009-02-09	Common (11000)	Direct

Footnotes

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