ECOLAB INC. — Director's Dealing 2011

Oct 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ECOLAB INC (ECL)
CIK: 0000031462
Period of Report: 2011-10-28

Reporting Person: Inchaustegui Roberto (EVP-Global Specialty Sector)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-28	Common Stock	M	13600	$34.50	Acquired	13600	Direct
2011-10-28	Common Stock	M	13500	$34.075	Acquired	27100	Direct
2011-10-28	Common Stock	S	21333	$55.0016	Disposed	5767	Direct
2011-10-28	Common Stock	S	2267	$55.00	Disposed	3500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-28	Employee Stock Option (Right to Buy)	$34.50	M	13600	Disposed	2014-12-09	Common Stock (13600)	Direct
2011-10-28	Employee Stock Option (Right to Buy)	$34.075	M	13500	Disposed	2015-12-07	Common Stock (13500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6.066	Indirect

Footnotes

F1: Number of UNITS in the Ecolab Stock Fund of the Ecolab Savings Plan (401(k) Plan) as of September 30, 2011. Includes 0.019 UNITS acquired since the reporting person's last report. (The 6.066 UNITS are the equivalent of approximtely 11 SHARES of the issuer's Common Stock.)

F2: Options granted under the Ecolab Inc. 1997 Stock Incentive Plan. Each option became exercisable, on a cumulative basis, as to one-third of the option shares (excluding any fraction portion less than one share) on each of the first and second anniversaries of the date of grant and as to the remaining shares on the third anniversary of the date of grant.