CUMMINS INC — Director's Dealing 2004

Jan 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CUMMINS INC (CMI)
CIK: 0000026172
Period of Report: 2004-01-27

Reporting Person: BLACKWELL JEAN S (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-27	Common	M	200	$29.16	Acquired	0	Direct
2004-01-27	Common	S	200	$54.2	Disposed	18061	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-27	Stock Option (Right-to-Buy)	$29.16	M	200	Disposed	2011-09-21	Common (200)	Direct

Footnotes

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