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: 2003-10-16

Reporting Person: DUNLAP F THOMAS JR (Sr. Vice Pres & Gen. Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-17	COMMON	M	144000	$7.67	Acquired	346295	Indirect
2003-10-16	COMMON	S	144000	$31.48	Disposed	202295	Indirect
2003-10-16	COMMON	M	240000	$11.93	Acquired	442295	Indirect
2003-10-16	COMMON	S	240000	$31.48	Disposed	202295	Indirect
2003-10-16	COMMON	S	4670	$32.01	Disposed	100	Indirect
2003-10-16	COMMON	S	4670	$32.03	Disposed	100	Indirect
2003-10-17	COMMON	S	2576	$32.06	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-16	Employee Stock Option (right to buy)	$7.67	M	144000	Disposed	2006-04-09	COM.STK (144000)	Direct
2003-10-16	Employee Stock Option (right to buy)	$11.93	M	80000	Disposed	2006-09-18	COM STK (80000)	Direct
2003-10-16	Employee Stock Option (right to buy)	$11.93	M	160000	Disposed	2006-09-18	COM STK (160000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	40000	Indirect

Footnotes

F1: THE REPORTING PERSON DISCLAIMS BENEFICIAL OWNERSHIP OF INTC COMMON STOCK HELD BY FAMILY LIMITED PARTNERSHIP EXCEPT TO THE EXTENT OF HIS PECUNIARY INTEREST THEREIN.

F2: Column 8 is not a required reportable field. New SEC software requires a dollar amount; use zero per SEC.