MCDONALDS CORP — Director's Dealing 2004

Oct 21, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MCDONALDS CORP (MCD)
CIK: 0000063908
Period of Report: 2004-10-20

Reporting Person: SANTONA GLORIA (Corp Exec VP, Gen Coun, Secy)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-20	Common Stock	M	2000	$18.125	Acquired	38804	Direct
2004-10-20	Common Stock	S	2000	$28.60	Disposed	36804	Direct
2004-10-20	Common Stock	M	36000	$16.5625	Acquired	72804	Direct
2004-10-20	Common Stock	S	36000	$28.50	Disposed	36804	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-20	Options (Right to Buy)	$18.125	M	2000	Disposed	2005-05-26	Common Stock (2000)	Direct
2004-10-20	Options (Right to Buy)	$16.5625	M	36000	Disposed	2005-02-21	Common Stock (36000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	13594	Indirect
Common Stock	3673	Indirect

Footnotes

F1: Options become exercisable in 25% increments on the first, third, fifth and seventh anniversary dates of the grant.