JOHNSON & JOHNSON — Director's Dealing 2003

May 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2003-05-15

Reporting Person: GOGGINS COLLEEN A (Member, Executive Committee)

Footnotes

F1: Adjusted to reflect two-for-one stock splits in 1996 and 2001.

F2: Shares acquired under Johnson & Johnson's 401(k) and ESOP Savings Plans at Plan's most recent reporting date (4/30/2003) at prices ranging from $56.21 to $57.38.

F3: Awarded under Issuer's Stock Option Plan and exercisable in increments of 20% per year starting two years from date of grant.