Walmart Inc. — Director's Dealing 2006

Dec 16, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WAL MART STORES INC (WMT)
CIK: 0000104169
Period of Report: 2006-12-14

Reporting Person: MENZER JOHN B (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-14	Common Stock	M	50000	$12	Acquired	234999.851	Direct
2006-12-14	Common Stock	F	16121	$46.52	Disposed	218878.851	Direct
2006-12-15	Common Stock	S	3879	$46.69	Disposed	214999.851	Direct
2006-12-15	Common Stock	S	5000	$46.68	Disposed	209999.851	Direct
2006-12-15	Common Stock	S	15000	$46.67	Disposed	194999.851	Direct
2006-12-15	Common Stock	S	10000	$46.64	Disposed	184999.851	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-14	Stock Option	$12	M	50000	Disposed	2007-01-09	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1045.67	Indirect

Footnotes

F1: Balance adjusted to reflect shares acquired through the Wal-Mart Stores Inc., 2004 Associate Stock Purchase Plan.

F2: This amount represents shares withheld to pay taxes upon the exercise of stock options.

F3: This option became exercisable in seven equal annual installments beginning January 9, 1998.