JOHNSON & JOHNSON — Director's Dealing 2004

Feb 11, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2004-02-09

Reporting Person: DORMER MICHAEL J (Member, Executive Committee)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-09	Common	A	1485	—	Acquired	14652	Direct
2004-01-30	Common	J	135	—	Acquired	617	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-09	Employee Stock Option (Right to Buy)	$53.93	A	120000	Acquired	2014-02-07	Common (120000)	Direct

Footnotes

F1: Awarded under Issuer's Stock Compensation Plan.

F2: Shares acquired under Johnson & Johnson's 401(k) and ESOP Savings Plans at Plans' most recent reporting date (01/30/2004).

F3: Awarded under Issuer's Stock Option Plan.