INTEL CORP — Director's Dealing 2003

Oct 22, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INTEL CORP (INTC)
CIK: 0000050863
Period of Report: 2003-10-20

Reporting Person: YOUNG CHARLES E (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-20	COMMON	M	20000	$20.45	Acquired	25100	Direct
2003-10-20	COMMON	S	20000	$32.00	Disposed	5100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-20	Stock Option (right to buy)	$20.45	M	20000	Disposed	2007-05-21	COM. STK (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	500	Indirect

Footnotes

F1: I disclaim benefical ownership of these shares.

F2: Column 8 is not a required reportable field. Use zeros per SEC