CUMMINS INC — Director's Dealing 2004

Mar 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2004-03-18

Reporting Person: BLACKWELL JEAN S (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-18	Common	M	1650	$35.72	Acquired	19220	Direct
2004-03-18	Common	S	1650	$56	Disposed	17570	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-18	Stock Option (Right-to-Buy)	$35.72	M	1650	Disposed	2008-09-16	Common (1650)	Direct

Footnotes

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