INTEL CORP — Director's Dealing 2003

Oct 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INTEL CORP (INTC)
CIK: 0000050863
Period of Report: 2003-10-17

Reporting Person: SMITH RONALD J (SENIOR VICE PRESIDENT)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-17	COMMON	M	56000	$4.20	Acquired	117265	Direct
2003-10-17	COMMON	M	40000	$7.67	Acquired	157265	Direct
2003-10-17	COMMON	S	96000	$31.88	Disposed	61265	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-17	Employee Stock Option (right to buy)	$4.20	M	56000	Disposed	2004-04-12	COM.STK (56000)	Direct
2003-10-17	Employee Stock Option (right to buy)	$7.67	M	40000	Disposed	2004-04-09	COM. STK (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	585816	Indirect
COMMON	4678	Indirect
COMMON	4678	Indirect
COMMON	2561	Indirect

Footnotes

F1: Column 8 is not a required reportable field. New SEC software requires a dollar amount; use zero per SEC.