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W.W. GRAINGER, INC. Director's Dealing 2008

May 1, 2008

30040_dirs_2008-05-01_6a06403c-1ecb-46ea-a924-776df4d5c7e7.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRAINGER W W INC (GWW)
CIK: 0000277135
Period of Report: 2008-04-30

Reporting Person: KEYSER RICHARD L (Chairman and CEO)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-04-30 Option $85.82 A 150000 Acquired 2018-04-29 Common Stock (150000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 222365 Direct

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Option $42.8125 2010-02-28 Common Stock (20100) 20100 Direct
Option $43.50 2010-04-25 Common Stock (80930) 80930 Direct
Option $43.50 2010-04-25 Common Stock (12140) 12140 Direct
Option $54.61 2012-04-23 Common Stock (175000) 175000 Direct
Option $45.50 2013-04-29 Common Stock (174000) 174000 Direct
Option $54.14 2014-04-27 Common Stock (81000) 81000 Direct
Option $52.29 2015-04-26 Common Stock (90000) 90000 Direct
Option $76.61 2016-04-25 Common Stock (80000) 80000 Direct
Option $83.08 2017-04-24 Common Stock (80000) 80000 Direct

Footnotes

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