INTEL CORP — Director's Dealing 2004

Apr 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INTEL CORP (INTC)
CIK: 0000050863
Period of Report: 2004-04-15

Reporting Person: OTELLINI PAUL S (Director, PRESIDENT AND COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-15	Employee Option (right to buy)	$27.00	A	75000	Acquired	2014-04-15	COM STK (75000)	Direct
2004-04-15	Employee Option (right to buy)	$27.00	A	75000	Acquired	2014-04-15	COM.STK (75000)	Direct
2004-04-15	Employee Option (right to buy)	$27.00	A	75000	Acquired	2014-04-15	COM.STK (75000)	Direct
2004-04-15	Employee Option (right to buy)	$27.00	A	75000	Acquired	2014-04-15	COM.STK (75000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	684577	Direct
COMMON	700	Indirect
COMMON	2621	Indirect
COMMON	1288	Indirect

Footnotes

F1: Includes 999 shares acquired under the Intel Corporation Stock Participation Plan during February 2004.

F2: Includes 530.815 shares acquired under the Intel Corporation Dividend Reinvestment Plan during March 2004.

F3: This is not a required reportable field. New SEC software requires a dollar amount; use zeros per SEC.