INTEL CORP - Director's Dealing 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INTEL CORP (INTC)
CIK: 0000050863
Period of Report: 2004-01-23

Reporting Person: VADASZ LESLIE L (DIRECTOR EMERITUS)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-23	COMMON	S	25000	$32.00	Disposed	245904	Direct
2004-01-23	COMMON	M	35650	$25.69	Acquired	281554	Direct
2004-01-23	COMMON	S	51475	$31.90	Disposed	230079	Direct
2004-01-23	COMMON	M	69825	$24.37	Acquired	299904	Direct
2004-01-23	COMMON	M	54000	$30.70	Acquired	270904	Direct
2004-01-23	COMMON	S	25000	$31.80	Disposed	274904	Direct
2004-01-23	COMMON	S	25000	$31.75	Disposed	249904	Direct
2004-01-23	COMMON	S	25000	$31.71	Disposed	224904	Direct
2004-01-23	COMMON	M	92000	$29.33	Acquired	316904	Direct
2004-01-23	COMMON	S	50000	$31.71	Disposed	266904	Direct
2004-01-23	COMMON	S	25000	$31.67	Disposed	241904	Direct
2004-01-23	COMMON	S	25000	$31.65	Disposed	216904	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-23	Employee Stock Option (right to buy)	$30.70	M	54000	Disposed	2004-06-01	COM.STK (54000)	Direct
2004-01-23	Employee Stock Option (right to buy)	$25.69	M	35650	Disposed	2004-06-01	COM.STK (35650)	Direct
2004-01-23	Employee Stock Option (right to buy)	$24.37	M	69825	Disposed	2004-06-01	COM.STK (69825)	Direct
2004-01-23	Employee Stock Option (right to buy)	$29.33	M	92000	Disposed	2004-06-01	COM.STK (92000)	Direct

Security	Shares	Ownership
COMMON	5188327	Indirect

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