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

Feb 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2007-02-20

Reporting Person: RYAN JAMES T (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-20	Common Stock	A	10000	—	Acquired	94713	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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: 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.