ECOLAB INC. — Director's Dealing 2003

Aug 18, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2003-08-14

Reporting Person: NEWLIN STEPHEN D (President - Industrial Sector)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-14	Employee Stock Option (Right to Buy)	$25.49	A	100000	Acquired	2013-08-14	Common Stock (100000)	Direct

Footnotes

F1: Option granted under the Ecolab Inc. 2002 Stock Incentive Plan on August 14, 2003. The option will be exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fractional portion less than one share), on each of the first and second anniversaries of the date of grant and as to the remaining option shares on the third anniversary of the date of grant; provided, however, that if a Change in Control (as the term is defined in the 2002 Plan) of the Company occurs, then the option, if it has been outstanding for at least six months from the date of grant, will become immediately exercisable in full.