LOWES COMPANIES INC — Director's Dealing 2007

Mar 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LOWES COMPANIES INC (LOW)
CIK: 0000060667
Period of Report: 2007-03-01

Reporting Person: BRIDGEFORD GREGORY M (EVP Business Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-18	Common Stock	G	2250	—	Disposed	257362	Direct
2007-03-01	Common Stock	A	38000	—	Acquired	295362	Direct
2007-03-01	Common Stock	F	4860	$32.21	Disposed	290502	Direct
2007-03-01	Common Stock	D	11540	—	Disposed	278962	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-01	Non-Qualified Stock Option (right to buy)	$32.21	A	80000	Acquired	2014-03-01	Common Stock (80000)	Direct
2007-03-01	Phantom Stock	$0	A	11540	Acquired		Common Stock (11540)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	163975.6087	Indirect

Footnotes

F1: Restricted stock granted pursuant to 2006 Long-Term Incentive Plan. The shares are subject to forfeiture if performance standard for fiscal years 2007 through 2009 is not achieved.

F2: Reflects shares delivered by reporting person to satisfy withholding taxes due upon vesting of restricted shares granted on 3/1/04.

F3: Mandatory forfeiture of restricted stock pursuant to Deferred Compensation Program.

F4: The option vests in three equal annual installments beginning on March 1, 2008.

F5: Phantom shares credited to Deferred Compensation Program account in exchange for restricted stock required to be forfeited under the Deferred Compensation Program.

F6: Reporting person receives an equivalent number of shares of common stock when compensation expense for the issuance of those shares is not subject to the deduction limitation of Code Section 162(m).