PEPSICO INC — Director's Dealing 2004

Oct 6, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSICO INC (PEP)
CIK: 0000077476
Period of Report: 2004-10-01

Reporting Person: TRUJILLO SOLOMON D (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-01	Employee Stock Option (right to buy)	$49.75	A	6030.00	Acquired	2014-09-30	PepsiCo, Inc. Common Stock (6030.00)	Direct
2004-09-30	Phantom Stock Units	$	A	66.04	Acquired		PepsiCo, Inc. Common Stock (66.04)	Direct
2004-10-01	Phantom Stock Units	$	A	2055.50	Acquired		PepsiCo, Inc. Common Stock (2055.50)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PepsiCo, Inc. Common Stock	4000.00	Direct

Footnotes

F1: There is no price for this derivative security.

F2: These phantom units are held under the issuer's deferred compensation plan and convert to shares of PepsiCo Common Stock on a one
-for-one basis.

F3: Acquired on various dates between January 1, 2004 and September 30, 2004 pursuant to PepsiCo's deferred compensation plan, at pri
ces ranging from $46.62 to $53.88.

F4: This security is payable upon the reporting person's retirement.