W.W. GRAINGER, INC. — Director's Dealing 2007

Nov 20, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2007-11-19

Reporting Person: NOVICH NEIL S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-11-19	Common Stock	M	2070	$43.50	Acquired	7410	Direct
2007-11-19	Common Stock	S	700	$85.95	Disposed	6710	Direct
2007-11-19	Common Stock	S	251	$85.96	Disposed	6459	Direct
2007-11-19	Common Stock	S	100	$85.965	Disposed	6359	Direct
2007-11-19	Common Stock	S	717	$85.98	Disposed	5642	Direct
2007-11-19	Common Stock	S	2	$86.01	Disposed	5640	Direct
2007-11-19	Common Stock	S	300	$86.095	Disposed	5340	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-11-19	Stock Option	$43.50	M	2070	Disposed	2010-04-25	Common Stock (2070)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Units	$		Common Stock (8011)	8011	Direct
Stock Option	$37.50	2011-04-24	Common Stock (2400)	2400	Direct
Stock Option	$54.61	2012-04-23	Common Stock (1650)	1650	Direct
Stock Option	$45.50	2013-04-29	Common Stock (1980)	1980	Direct
Stock Option	$54.14	2014-04-27	Common Stock (1670)	1670	Direct

Footnotes

F1: 1-for-1

F2: The stock units are expected to settle in cash following termination of service as a director.