PFIZER INC — Director's Dealing 2003

Nov 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2003-11-17

Reporting Person: STEERE WILLIAM C JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-17	Common Stock	M	180000	$8.17	Acquired	2225470	Direct
2003-11-17	Common Stock	S	180000	$33.99	Disposed	2045470	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-17	Employee Stock Option (right to buy)	$8.17	M	180000	Disposed	2005-08-23	Common Stock (180000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4936	Indirect
Common Stock	279251	Indirect

Footnotes

F1: I hereby disclaim beneficial ownership of all shares held by members of my family directly or through trusts.

F2: The option became exercisable in 5 equal annual installments beginning on August 24, 1996.