PEPSICO INC — Director's Dealing 2004

Oct 14, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSICO INC (PEP)
CIK: 0000077476
Period of Report: 2004-10-13

Reporting Person: BRU ABELARDO E (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-13	PepsiCo, Inc. Common Stock	M	40000.00	$27.38	Acquired	57492.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	S	40000.00	$48.25	Disposed	17492.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	M	6700.00	$26.42	Acquired	24192.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	S	6700.00	$48.25	Disposed	17492.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	M	400.00	$26.42	Acquired	17892.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	S	400.00	$48.26	Disposed	17492.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	M	5205.00	$26.42	Acquired	22697.00	Direct
2004-10-13	PepsiCo, Inc. Common Stock	S	5205.00	$48.27	Disposed	17492.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-13	Employee Stock Option (right to buy)	$27.38	M	40000.00	Disposed	2006-01-25	PepsiCo, Inc. Common Stock (40000.00)	Direct
2004-10-13	Employee Stock Option (right to buy)	$26.42	M	12305.00	Disposed	2006-01-25	PepsiCo, Inc. Common Stock (12305.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PepsiCo, Inc. Common Stock	4978.00	Indirect

Footnotes

F1: Reflects the number of shares held under the reporting person's account in the PepsiCo 401(k) Plan as of 10/12/2004.

F2: There is no price for this derivative security.