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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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<SEC-DOCUMENT>0000769993-03-000685.txt : 20031218
<SEC-HEADER>0000769993-03-000685.hdr.sgml : 20031218
<ACCEPTANCE-DATETIME>20031218150409
ACCESSION NUMBER:		0000769993-03-000685
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031217
FILED AS OF DATE:		20031218

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GEORGE WILLIAM W
		CENTRAL INDEX KEY:			0001145149

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14965
		FILM NUMBER:		031062227

	BUSINESS ADDRESS:	
		STREET 1:		710 MEDTRONIC PKWY MS LC310
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55432-5604
		BUSINESS PHONE:		7635144000

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>georgeeep_ex.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-17</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000886982</issuerCik>
        <issuerName>GOLDMAN SACHS GROUP INC/</issuerName>
        <issuerTradingSymbol>GS</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001145149</rptOwnerCik>
            <rptOwnerName>GEORGE WILLIAM W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GOLDMAN, SACHS &amp; CO.</rptOwnerStreet1>
            <rptOwnerStreet2>85 BROAD STREET</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK,</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Restricted Stock Units</value>
      </securityTitle>
      <conversionOrExercisePrice>
            <footnoteId id="F1"/>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-17</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>2306</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F1"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
            <footnoteId id="F1"/>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>2306</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>5306</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Nonqualified Stock options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>96.08</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-17</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>4500</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F2"/>
      </exerciseDate>
      <expirationDate>
         <value>2013-11-29</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>4500</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>4500</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> These Restricted Stock Units vested immediately upon grant and the shares of 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 of the retirement of the Reporting Person from the Issuer's Board of Directors.</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 2007.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Roger S. Begelman, Attorney-in-fact</signatureName>
      <signatureDate>2003-12-18</signatureDate>
   </ownerSignature>
</ownershipDocument>

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