JOHNSON & JOHNSON — Director's Dealing 2008

Feb 13, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: JOHNSON & JOHNSON (JNJ)
CIK: 0000200406
Period of Report: 2008-02-11

Reporting Person: Casey Donald M Jr. (Member, Executive Committee)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-11	Employee Stock Option (Right to Buy)	$61.75	A	38316	Acquired	2018-02-10	Common Stock (38316)	Direct
2008-02-11	Restricted Share Units	$	A	9579	Acquired		Common Stock (9579)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15777	Direct
Common Stock	1415	Indirect
Common Stock	20932	Indirect

Footnotes

F1: Adjusted to subtract the 20,932 shares which are held indirectly, previously reported as being held directly.

F2: Shares held under Johnson & Johnson's 401(k) and ESOP Savings Plans as of Plans' most recent reporting date (01/31/2008).

F3: Previously reported by as directly held shares.

F4: Awarded under Issuer's Long-Term Incentive Plan.

F5: Each Restricted Share Unit represents a contingent right to receive one share of Company Common Stock.

F6: The Restricted Share Units vest three years after date of grant.