CUMMINS INC — Director's Dealing 2004

Mar 2, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2004-03-01

Reporting Person: RUCKELSHAUS WILLIAM D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-01	Common	A	36.3201	—	Acquired	12288.83	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-01	Stock Units	$0	A	48.7406	Acquired	1988-08-08	Common (48.7406)	Direct

Footnotes

F1: Dividend equivalent shares credited under Deferred Compensation Plan for Non-Employee Directors.

F2: Dividend equivalents credited on stock units.

F3: These units have no actual expiration date. A fictitious date was used to facilitate this filing.