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: 2003-11-18

Reporting Person: KATEN KAREN L (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-18	Common Stock	M	64800	$8.17	Acquired	704478	Direct
2003-11-18	Common Stock	S	64800	$34.37	Disposed	639678	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-18	Employee Stock Option (right to buy)	$8.17	M	64800	Disposed	2005-08-23	Common Stock (64800)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	58653	Indirect

Footnotes

F1: The option became exercisable in 5 equal annual installments beginning on August 24, 1996.