-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 MPeGaNTnFb3L4S6vYfdiIFXSgQ4O7CqMB8JOPi/mOgVBZtjbu1iNpVCb14HTD9B8
 DpntZxzQrdGqV/4wtLK5uw==

<SEC-DOCUMENT>0001181431-04-002846.txt : 20040115
<SEC-HEADER>0001181431-04-002846.hdr.sgml : 20040115
<ACCEPTANCE-DATETIME>20040115153603
ACCESSION NUMBER:		0001181431-04-002846
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GANTZ WILBUR H
		CENTRAL INDEX KEY:			0001194172

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05684
		FILM NUMBER:		04527295

	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>5
<SEQUENCE>1
<FILENAME>rrd29196.xml
<DESCRIPTION>FORM 5
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType><periodOfReport>2003-12-31</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000277135</issuerCik>
        <issuerName>GRAINGER W W INC</issuerName>
        <issuerTradingSymbol>GWW</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001194172</rptOwnerCik>
            <rptOwnerName>GANTZ WILBUR H</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><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-23</value></transactionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>G</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>200</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F1"/></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>12890</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><n
onDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-24</value></transactionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>G</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>2200</value></transactionShares><transactionPricePerShare><value>0</value><footnoteId id="F1"/></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10690</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeHolding><securityTitle><value>Stock Units</value></securityTitle><conversionOrExercisePrice><footnoteId id="F2"/></conversionOrExe
rcisePrice><transactionCoding/><exerciseDate><footnoteId id="F3"/></exerciseDate><expirationDate><footnoteId id="F3"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>10264</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10264</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>37.25</value></conversionOrExercisePrice><transactionCoding/><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></under
lyingSecurityShares></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><transactionCoding/><exerciseDate><value>2001-04-29</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></d
erivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>48.6250</value></conversionOrExercisePrice><transactionCoding/><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><transactionCoding/><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></securityTitle><conversionOrExercisePrice><value>37.50</value></conversionOrExercisePrice><transactionCoding/><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></sh
aresOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value></securityTitle><conversionOrExercisePrice><value>54.61</value></conversionOrExercisePrice><transactionCoding/><exerciseDate><value>2002-04-24</value></exerciseDate><expirationDate><value>2012-04-23</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><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><v
alue>45.50</value></conversionOrExercisePrice><transactionCoding/><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></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Disposition by gift.</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>2004-01-15</signatureDate></ownerSignature></own
ershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----