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

Feb 16, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2007-02-15

Reporting Person: LOIZZO LARRY J (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-15	Common Stock	M	8060	$37.25	Acquired	42560	Direct
2007-02-15	Common Stock	S	100	$79.07	Disposed	42460	Direct
2007-02-15	Common Stock	S	100	$79.08	Disposed	42360	Direct
2007-02-15	Common Stock	S	1000	$79.09	Disposed	41360	Direct
2007-02-15	Common Stock	S	2800	$79.10	Disposed	38560	Direct
2007-02-15	Common Stock	S	700	$79.11	Disposed	37860	Direct
2007-02-15	Common Stock	S	700	$79.12	Disposed	37160	Direct
2007-02-15	Common Stock	S	900	$79.13	Disposed	36260	Direct
2007-02-15	Common Stock	S	300	$79.14	Disposed	35960	Direct
2007-02-15	Common Stock	S	400	$79.15	Disposed	35560	Direct
2007-02-15	Common Stock	S	600	$79.16	Disposed	34960	Direct
2007-02-15	Common Stock	S	100	$79.17	Disposed	34860	Direct
2007-02-15	Common Stock	S	100	$79.18	Disposed	34760	Direct
2007-02-15	Common Stock	S	260	$79.19	Disposed	34500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-15	Option	$37.25	M	8060	Disposed	2007-04-29	Common Stock (8060)	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	$42.8125	2010-02-28	Common Stock (760)	760	Direct
Option	$43.50	2010-04-25	Common Stock (10120)	10120	Direct
Option	$37.50	2011-04-24	Common Stock (15600)	15600	Direct
Option	$54.61	2012-04-23	Common Stock (15000)	15000	Direct
Option	$45.50	2013-04-29	Common Stock (15000)	15000	Direct
Option	$54.14	2014-04-27	Common Stock (15000)	15000	Direct
Option	$52.29	2015-04-26	Common Stock (9000)	9000	Direct
Option	$76.61	2016-04-25	Common Stock (10000)	10000	Direct