W.W. GRAINGER, INC. — Director's Dealing 2005

Apr 29, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2005-04-27

Reporting Person: HOWARD JOHN L (Sr. VP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-04-27	Common Stock	A	4350	—	Acquired	30063	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-04-27	Option	$52.29	A	13000	Acquired	2015-04-26	Common Stock (13000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$43.50	2010-04-25	Common Stock (14390)	14390	Direct
Option	$43.50	2010-04-25	Common Stock (2160)	2160	Direct
Option	$37.50	2011-04-24	Common Stock (20000)	20000	Direct
Option	$37.50	2011-04-24	Common Stock (1440)	1440	Direct
Option	$54.61	2012-04-23	Common Stock (25000)	25000	Direct
Option	$45.50	2013-04-29	Common Stock (25000)	25000	Direct
Option	$54.14	2014-04-27	Common Stock (12000)	12000	Direct

Footnotes

F1: Award of restricted stock units to be settled after vesting by the delivery of unrestricted shares of common stock on a one-for-one basis.

F2: Exercisable in four equal annual installments beginning 4/26/2001.