-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Pz0Qd4tiH3axckLRAjhq3rTFdUKLmSvUEZ+0VBO9YVqTUhWtqQhx0LSQi0C9yPVg
 nmNlxNrFChJTeNQMJQgc3w==

<SEC-DOCUMENT>0001181431-03-024827.txt : 20030930
<SEC-HEADER>0001181431-03-024827.hdr.sgml : 20030930
<ACCEPTANCE-DATETIME>20030930163714
ACCESSION NUMBER:		0001181431-03-024827
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030930
FILED AS OF DATE:		20030930

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WEBB JANIECE S
		CENTRAL INDEX KEY:			0001194176

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05684
		FILM NUMBER:		03917996

	BUSINESS ADDRESS:	
		STREET 1:		100 GRAINGER PARKWAY
		CITY:			LAKE FOREST
		STATE:			IL
		ZIP:			60045

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAINGER W W INC
		CENTRAL INDEX KEY:			0000277135
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-DURABLE GOODS [5000]
		IRS NUMBER:				361150280
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 GRAINGER PARKWAY
		CITY:			LAKE FOREST
		STATE:			IL
		ZIP:			60045-5201
		BUSINESS PHONE:		847-535-1000

	MAIL ADDRESS:	
		STREET 1:		100 GRAINGER PARKWAY
		CITY:			LAKE FOREST
		STATE:			IL
		ZIP:			60045
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd19409.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-09-30</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000277135</issuerCik>
        <issuerName>GRAINGER W W INC</issuerName>
        <issuerTradingSymbol>GWW</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001194176</rptOwnerCik>
            <rptOwnerName>WEBB JANIECE S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 GRAINGER PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>LAKE FOREST</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60045-5201</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10652</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>350</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>See footnote</value><footnoteId id="F1"/></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTi
tle><value>Stock units</value></securityTitle><conversionOrExercisePrice><footnoteId id="F2"/></conversionOrExercisePrice><transactionDate><value>2003-09-30</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>83</value></transactionShares><transactionPricePerShare><value>48.24</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F3"/></exerciseDate><expirationDate><footnoteId id="F3"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>83</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>4798</value></sharesOwnedFollowingTransaction></postTransactionAmounts
><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>37.25</value></conversionOrExercisePrice><exerciseDate><value>2000-04-30</value></exerciseDate><expirationDate><value>2007-04-29</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2200</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2200</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>51.6875</value></conversionOrExercisePrice><exerciseDate><value>2
001-04-29</value></exerciseDate><expirationDate><value>2008-04-28</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1460</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1460</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>48.625</value></conversionOrExercisePrice><exerciseDate><value>1999-04-28</value></exerciseDate><expirationDate><value>2009-04-27</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1860</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><
sharesOwnedFollowingTransaction><value>1860</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>43.50</value></conversionOrExercisePrice><exerciseDate><value>2000-04-26</value></exerciseDate><expirationDate><value>2010-04-25</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2070</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2070</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></security
Title><conversionOrExercisePrice><value>37.50</value></conversionOrExercisePrice><exerciseDate><value>2001-04-25</value></exerciseDate><expirationDate><value>2011-04-24</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>2400</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2400</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>54.61</value></conversionOrExercisePrice><exerciseDate><value>2002-04-24</value></exerciseDate><expirationDate><value>2012-04-23</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecur
ityShares><value>1650</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1650</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>45.50</value></conversionOrExercisePrice><exerciseDate><value>2003-04-30</value></exerciseDate><expirationDate><value>2013-04-29</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>1980</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1980</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></owner
shipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Shares held by spouse.  Ms. Webb disclaims beneficial ownership of such shares.</footnote><footnote id="F2">1-for-1</footnote><footnote id="F3">The Stock Units are expected to settle in cash following termination of service as a director.</footnote></footnotes><ownerSignature><signatureName>K. S. Kirsner, as attorney-in-fact</signatureName><signatureDate>2003-09-30</signatureDate></ownerSignature></ownershipDocument>



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</DOCUMENT>
</SEC-DOCUMENT>
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