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

Mar 8, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2006-03-07

Reporting Person: RYAN JAMES T (Group President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-03-07	Common Stock	M	10240	$43.50	Acquired	67953	Direct
2006-03-07	Common Stock	S	6400	$73.00	Disposed	61553	Direct
2006-03-07	Common Stock	S	200	$73.06	Disposed	61353	Direct
2006-03-07	Common Stock	S	100	$73.07	Disposed	61253	Direct
2006-03-07	Common Stock	S	300	$73.08	Disposed	60953	Direct
2006-03-07	Common Stock	S	1900	$73.09	Disposed	59053	Direct
2006-03-07	Common Stock	S	100	$73.14	Disposed	58953	Direct
2006-03-07	Common Stock	S	100	$73.16	Disposed	58853	Direct
2006-03-07	Common Stock	S	200	$73.18	Disposed	58653	Direct
2006-03-07	Common Stock	S	400	$73.20	Disposed	58253	Direct
2006-03-07	Common Stock	S	100	$73.22	Disposed	58153	Direct
2006-03-07	Common Stock	S	140	$73.26	Disposed	58013	Direct
2006-03-07	Common Stock	S	100	$73.27	Disposed	57913	Direct
2006-03-07	Common Stock	S	100	$73.32	Disposed	57813	Direct
2006-03-07	Common Stock	S	100	$73.34	Disposed	57713	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-03-07	Option	$43.50	M	10240	Disposed	2010-04-25	Common Stock (10240)	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	$37.50	2011-04-24	Common Stock (50000)	50000	Direct
Option	$54.61	2012-04-23	Common Stock (30000)	30000	Direct
Option	$45.50	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

Footnotes

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