EMERSON ELECTRIC CO — Director's Dealing 2003

Oct 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EMERSON ELECTRIC CO (EMR)
CIK: 0000032604
Period of Report: 2003-10-15

Reporting Person: MONSER EDWARD L (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-15	Common Stock	M	4000	$28.2813	Acquired	56889	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-15	Employee Stock Option (Right to Buy)	$28.2813	M	4000	Disposed	2003-11-02	Common Stock (4000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	163	Indirect
Common Stock	203	Indirect

Footnotes

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

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

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