JOHNSON & JOHNSON — Director's Dealing 2006

Feb 15, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2006-02-13

Reporting Person: MULLIN LEO F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-13	Common	A	1714	—	Acquired	8449	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	1200	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Units	$		Common (0)	8557	Direct

Footnotes

F1: Annual grant of restricted stock issued to Non-Employee Directors under Issuer's Long-Term Incentive Plan

F2: Includes 16 shares held under Issuer's Dividend Reinvestment Program.

F3: The Phantom Stock Units acquired under the Issuer's Non-Employee Director Deferred Fee Plan are to be settled in cash upon the Reporting Person's Retirement.

F4: 1 for 1