JOHNSON & JOHNSON — Director's Dealing 2008

Mar 12, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2008-03-11

Reporting Person: COLEMAN MARY SUE (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-03-11	Phantom Stock Units	$	J	492	Acquired		Common (492)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7799	Direct

Footnotes

F1: Includes 432 shares held in IRA controlled by reporting person and 266 shares under Issuer's Dividend Reinvestment Plan.

F2: The Phantom Stock Units acquired under the Issuer's Non-Employee Director Deferred Fee Plan on March 11, 2008 at $61.45 per share are to be settled in cash upon the Reporting Person's Retirement.

F3: 1 for 1