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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 yrIpP2KWUs2uAWJwVXDulw==

<SEC-DOCUMENT>0000769993-03-000482.txt : 20031001
<SEC-HEADER>0000769993-03-000482.hdr.sgml : 20031001
<ACCEPTANCE-DATETIME>20030715103427
ACCESSION NUMBER:		0000769993-03-000482
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030711
FILED AS OF DATE:		20030715

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAHLBACK CLAES
		CENTRAL INDEX KEY:			0001249256

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14965
		FILM NUMBER:		03786435

	BUSINESS ADDRESS:	
		STREET 1:		85 BROAD STREET
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10004

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDMAN SACHS GROUP INC/
		CENTRAL INDEX KEY:			0000886982
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				134019460
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1128

	BUSINESS ADDRESS:	
		STREET 1:		85 BROAD ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10004
		BUSINESS PHONE:		2129021000

	MAIL ADDRESS:	
		STREET 1:		85 BROAD ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10004
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dahlbackeep_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   04/22/03  TZ    -->
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-07-11</periodOfReport>
    <issuer>
        <issuerCik>0000886982</issuerCik>
        <issuerName>GOLDMAN SACHS GROUP INC/</issuerName>
        <issuerTradingSymbol>GS</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
      <reportingOwnerId>
            <rptOwnerCik>0001249256</rptOwnerCik>
            <rptOwnerName>DAHLBACK CLAES</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
       </reportingOwnerRelationship>
   </reportingOwner>
   <derivativeSecurity>
      <securityTitle>
         <value>Restricted Stock Units</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>0.00</value>
            <footnoteId id="F1"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-07-11</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>3441</value>
         </transactionShares>
         <transactionValue>
           <value>0.00</value>
            <footnoteId id="F1"/>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1988-08-08</value>
            <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
         <value>1988-08-08</value>
            <footnoteId id="F1"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>3441</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>3441</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <derivativeSecurity>
      <securityTitle>
         <value>Nonqualified Stock Options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>78.87</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-07-11</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>1324</value>
         </transactionShares>
         <transactionValue>
           <value>0.00</value>
            <footnoteId id="F2"/>
         </transactionValue>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>1988-08-08</value>
            <footnoteId id="F2"/>
      </exerciseDate>
      <expirationDate>
         <value>2012-11-30</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>1324</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1324</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeSecurity>
   <footnotes>
<footnote id="F1"> These Restricted Stock Units vested immediately upon grant and the shares of the Issuer's common stock underlying these Restricted Stock Units will be deliverable, without the payment of any consideration, on the last business day in May in the year following the year in which the Reporting Person ceases to be a director of the Issuer.</footnote>

<footnote id="F2"> These Stock Options vested immediately upon grant and become exercisable on the earlier of (i) the date the Reporting Person ceases to be a director of the Issuer and (ii) January 2006.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Roger S. Begelman, Attorney-in-fact</signatureName>
      <signatureDate>2003-07-15</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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