TARGET CORP — Director's Dealing 2003

Aug 27, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2003-08-26

Reporting Person: SINGER PAUL (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-26	Common Stock, $.0833 per share	M	5000	$9.3438	Acquired	5000	Direct
2003-08-26	Common Stock, $.0833 per share	S	5000	$39.01	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-26	Stock Option	$9.3438	M	5000	Acquired	2007-01-08	Common Stock (5000)	Direct

Footnotes

F1: Mr. Singer also holds 18,024.570 shares in the Target Corporation 401(k) Plan (the "401(k) Plan") as of February 1, 2003, subject to adjustments.

F2: Option granted under the Target Corporation Long-Term Incentive Plan of 1981 in a transaction exempt under Rule 16b-3.