Walmart Inc. — Director's Dealing 2004

Jan 8, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WAL MART STORES INC (WMT)
CIK: 0000104169
Period of Report: 2004-01-06

Reporting Person: MENZER JOHN B (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-05	Common Stock	A	33576.00	—	Acquired	214644.00	Direct
2004-01-06	Common Stock	J	42.00	—	Acquired	836.00	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-05	Stock Option	$52.1200	A	225403.00	Acquired	2014-01-04	Common Stock (225403.00)	Direct

Footnotes

F1: Due to stock price fluctations, and changes in the percentage of Plan assets, total shares credited may have decreased. The info
rmation reported is based on a Plan statement dated Oct 31, 2003.