W.W. GRAINGER, INC. — Director's Dealing 2006

Nov 27, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2006-11-22

Reporting Person: RYAN JAMES T (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-11-22	Common Stock	M	5000	$43.50	Acquired	89713	Direct
2006-11-22	Common Stock	S	200	$73.39	Disposed	89513	Direct
2006-11-22	Common Stock	S	500	$73.40	Disposed	89013	Direct
2006-11-22	Common Stock	S	600	$73.41	Disposed	88413	Direct
2006-11-22	Common Stock	S	200	$73.44	Disposed	88213	Direct
2006-11-22	Common Stock	S	200	$73.45	Disposed	88013	Direct
2006-11-22	Common Stock	S	400	$73.46	Disposed	87613	Direct
2006-11-22	Common Stock	S	100	$73.47	Disposed	87513	Direct
2006-11-22	Common Stock	S	400	$73.49	Disposed	87113	Direct
2006-11-22	Common Stock	S	100	$73.51	Disposed	87013	Direct
2006-11-22	Common Stock	S	100	$73.54	Disposed	86913	Direct
2006-11-22	Common Stock	S	100	$73.55	Disposed	86813	Direct
2006-11-22	Common Stock	S	200	$73.56	Disposed	86613	Direct
2006-11-22	Common Stock	S	400	$73.57	Disposed	86213	Direct
2006-11-22	Common Stock	S	200	$73.58	Disposed	86013	Direct
2006-11-22	Common Stock	S	100	$73.59	Disposed	85913	Direct
2006-11-22	Common Stock	S	200	$73.60	Disposed	85713	Direct
2006-11-22	Common Stock	S	100	$73.61	Disposed	85613	Direct
2006-11-22	Common Stock	S	300	$73.64	Disposed	85313	Direct
2006-11-22	Common Stock	S	200	$73.70	Disposed	85113	Direct
2006-11-22	Common Stock	S	100	$73.71	Disposed	85013	Direct
2006-11-22	Common Stock	S	200	$73.72	Disposed	84813	Direct
2006-11-22	Common Stock	S	100	$73.74	Disposed	84713	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-11-22	Option	$43.5	M	5000	Disposed	2010-04-25	Common Stock (5000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$51.6875	2008-04-28	Common Stock (7180)	7180	Direct
Option	$48.625	2009-04-27	Common Stock (8790)	8790	Direct
Option	$37.5	2011-04-24	Common Stock (50000)	50000	Direct
Option	$54.61	2012-04-23	Common Stock (30000)	30000	Direct
Option	$45.5	2013-04-29	Common Stock (30000)	30000	Direct
Option	$54.14	2014-04-27	Common Stock (20000)	20000	Direct
Option	$52.29	2015-04-26	Common Stock (27000)	27000	Direct
Option	$76.61	2016-04-25	Common Stock (25000)	25000	Direct

Footnotes

F1: Exercisable in four equal annual installments beginning 4/26/2001.