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

May 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2007-05-07

Reporting Person: RYAN JAMES T (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-07	Common Stock	M	50000	$37.50	Acquired	152713	Direct
2007-05-07	Common Stock	M	20000	$54.61	Acquired	172713	Direct
2007-05-07	Common Stock	S	400	$83.24	Disposed	172313	Direct
2007-05-07	Common Stock	S	400	$83.25	Disposed	171913	Direct
2007-05-07	Common Stock	S	500	$83.26	Disposed	171413	Direct
2007-05-07	Common Stock	S	379	$83.27	Disposed	171034	Direct
2007-05-07	Common Stock	S	1200	$83.28	Disposed	169834	Direct
2007-05-07	Common Stock	S	1000	$83.29	Disposed	168834	Direct
2007-05-07	Common Stock	S	1600	$83.30	Disposed	167234	Direct
2007-05-07	Common Stock	S	5500	$83.31	Disposed	161734	Direct
2007-05-07	Common Stock	S	576	$83.32	Disposed	161158	Direct
2007-05-07	Common Stock	S	1100	$83.33	Disposed	160058	Direct
2007-05-07	Common Stock	S	300	$83.34	Disposed	159758	Direct
2007-05-07	Common Stock	S	1300	$83.35	Disposed	158458	Direct
2007-05-07	Common Stock	S	1600	$83.36	Disposed	156858	Direct
2007-05-07	Common Stock	S	1100	$83.37	Disposed	155758	Direct
2007-05-07	Common Stock	S	1787	$83.38	Disposed	153971	Direct
2007-05-07	Common Stock	S	500	$83.39	Disposed	153471	Direct
2007-05-07	Common Stock	S	300	$83.40	Disposed	153171	Direct
2007-05-07	Common Stock	S	500	$83.41	Disposed	152671	Direct
2007-05-07	Common Stock	S	500	$83.42	Disposed	152171	Direct
2007-05-07	Common Stock	S	100	$83.43	Disposed	152071	Direct
2007-05-07	Common Stock	S	25	$83.44	Disposed	152046	Direct
2007-05-07	Common Stock	S	100	$83.45	Disposed	151946	Direct
2007-05-07	Common Stock	S	700	$83.46	Disposed	151246	Direct
2007-05-07	Common Stock	S	500	$83.47	Disposed	150746	Direct
2007-05-07	Common Stock	S	200	$83.475	Disposed	150546	Direct
2007-05-07	Common Stock	S	200	$83.48	Disposed	150346	Direct
2007-05-07	Common Stock	S	1300	$83.49	Disposed	149046	Direct
2007-05-07	Commom Stock	S	1500	$83.50	Disposed	147546	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-07	Option	$37.5	M	50000	Disposed	2011-04-24	Common Stock (50000)	Direct
2007-05-07	Option	$54.61	M	20000	Disposed	2012-04-23	Common Stock (20000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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
Option	$83.08	2017-04-24	Common Stock (30000)	30000	Direct