ECOLAB INC. — Director's Dealing 2003

May 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2003-05-15

Reporting Person: SCHUMAN ALLAN L (Director, Chairman of the Board & CEO)

Footnotes

F1: Additionally, reporting person indirectly holds 13,715.967 UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of April 30, 2003, including 38.565 units acquired since the reporting person's last report.

F2: Represents a special, premium-priced option (the exercise price is approximately 75% greater than the market price of the issuer's Common Stock on the date of grant) granted to reporting person on February 20, 1998 in conjunction with the adoption by the issuer of a five-year strategic plan targeting aggressive growth goals ("Premium-Priced Options"). As of the date hereof, an aggregate of 470,200 Premium-Priced Options granted to executives of the issuer remain exercisable and outstanding. All Premium-Priced Options expire on May 20, 2003.