PFIZER INC — Director's Dealing 2005

May 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PFIZER INC (PFE)
CIK: 0000078003
Period of Report: 2005-05-23

Reporting Person: SHEDLARZ DAVID L (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-23	Common Stock	M	39000	$18.35	Acquired	529911	Direct
2005-05-23	Common Stock	S	27800	$28.69	Disposed	502111	Direct
2005-05-23	Common Stock	S	11200	$28.70	Disposed	490911	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-23	Employee Stock Option (right to buy)	$18.35	M	39000	Disposed	2007-08-27	Common Stock (39000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2098	Indirect
Common Stock	28729	Indirect

Footnotes

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

F2: The option became exercisable in 5 equal annual installments beginning on August 28,1998.