JOHNSON & JOHNSON — Director's Dealing 2003

Jul 2, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2003-06-30

Reporting Person: DARRETTA ROBERT J (Director, Member, Executive Committee)

Footnotes

F1: Shares acquired under Johnson & Johnson's 401(k) and ESOP Savings Plans at Plan's most recent reporting date (06/30/2003).

F2: As previously reported, the reporting person beneficially and directly owns 202,226 shares of Common Stock

F3: The Phantom Stock converts into common stock on a one-for-one basis.

F4: The Phantom Stock Units were acquired under the Issuer's Executive Income Deferral Plan on June 30, 2003 at $ 51.65 per share and are to be settled in cash upon the Reporting Person's Retirement.