PFIZER INC — Director's Dealing 2004

Jan 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2003-12-31

Reporting Person: STEERE WILLIAM C JR (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-31	Phantom Stock Units	$	A	365	Acquired		Common Stock (365)	Direct
2003-12-31	Phantom Stock Units SSP	$	I	20541	Disposed		Common Stock (20541)	Direct

Footnotes

F1: Each unit represents one phantom share of common stock.

F2: These units represent deferred director's compensation (including dividend equivalents thereon) that are settled in cash following the reporting person's retirement from the Board of Directors.

F3: These units, which were acquired pursuant to the Pfizer Inc. Nonfunded Deferred Compensation and Supplemental Savings Plan, are settled in cash following the reporting person's separation from service.