Walmart Inc. — Director's Dealing 2004

Sep 14, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WAL MART STORES INC (WMT)
CIK: 0000104169
Period of Report: 2004-09-13

Reporting Person: MENZER JOHN B (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-13	Common Stock	M	17150.00	$11.75	Acquired	197785.00	Direct
2004-09-13	Common Stock	F	4474.00	$53.35	Disposed	193311.00	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-13	Stock Option	$11.7500	M	17150.00	Disposed	2005-11-16	Common Stock (17150.00)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	903.77	Indirect

Footnotes

F1: These shares were withheld to pay taxes upon the exercise of stock options.