INTEL CORP — Director's Dealing 2004

Jan 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INTEL CORP (INTC)
CIK: 0000050863
Period of Report: 2004-01-22

Reporting Person: BARRETT CRAIG R (Director, CHIEF EXECUTIVE OFFICER)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-22	COMMON	M	384000	$4.20	Acquired	3538432	Direct
2004-01-22	COMMON	S	75000	$32.19	Disposed	3463432	Direct
2004-01-22	COMMON	S	50000	$32.00	Disposed	3413432	Direct
2004-01-22	COMMON	S	25000	$31.75	Disposed	3388432	Direct
2004-01-22	COMMON	S	25100	$31.80	Disposed	3363332	Direct
2004-01-22	COMMON	S	25000	$31.94	Disposed	3338332	Direct
2004-01-22	COMMON	S	25000	$31.93	Disposed	3313332	Direct
2004-01-22	COMMON	S	158900	$31.68	Disposed	3154432	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-22	Employee Stock (right to buy)	$4.20	M	384000	Disposed	2004-04-12	COM. STK (384000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	3022	Indirect

Footnotes

F1: This is not a required reportable field. New SEC software requires a dollar amount; use zeros per SEC.