EMERSON ELECTRIC CO — Director's Dealing 2003

Oct 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EMERSON ELECTRIC CO (EMR)
CIK: 0000032604
Period of Report: 2003-10-27

Reporting Person: FARR DAVID N (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-27	Common Stock	M	8552	$28.2813	Acquired	257736	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-27	Employee Stock Option (right to buy)	$28.2813	M	8552	Disposed	2003-11-02	Common Stock (8552)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	34278	Indirect
Common Stock	559	Indirect
Common Stock	559	Indirect
Common Stock	2404	Indirect
Common Stock	3033	Indirect

Footnotes

F1: Exercise of incentive stock options exempt under Rule 16b-3.

F2: The options vested in three equal annual installments beginning 11/2/1994.

F3: Price is not applicable to stock options received as incentive compensation.