<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-07-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001096752</issuerCik>
        <issuerName>ENERGIZER HOLDINGS INC</issuerName>
        <issuerTradingSymbol>ENR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001182829</rptOwnerCik>
            <rptOwnerName>KLEIN WARD M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>PRESIDENT - INTERNATIONAL</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Energizer Holdings, Inc. Common Stock</value>
            <footnoteId id="F1"/>
        </securityTitle>
        <transactionDate>
            <value>2003-07-23</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>20000</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>17</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>33517</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <nonDerivativeSecurity>
        <securityTitle>
            <value>Energizer Holdings, Inc. Common Stock</value>
        </securityTitle>
        <transactionDate>
            <value>2003-07-23</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>S</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>20000</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>34</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>13517</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </nonDerivativeSecurity>

    <derivativeSecurity>
        <securityTitle>
            <value>Non-Qualified Stock Option  5/08/00</value>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>17</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-07-23</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>M</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>20000</value>
                <footnoteId id="F2"/>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>D</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2001-05-08</value>
        </exerciseDate>
        <expirationDate>
            <value>2010-05-07</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Energizer Holdings, Inc. Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>20000</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>240000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">Mr. Klein Indirectly owns 5,231 shares of Energizer Holdings, Inc. in the Company's 401(k) plan, 17,523 shares owned by his spouse and 800 shares owned by his immediate family members.</footnote>
        <footnote id="F2">Non-Qualified Stock Option exercise, and sale of the shares acquired, was made pursuant to a 10b5-1 plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>WARD M. KLEIN</signatureName>
        <signatureDate>2003-07-25</signatureDate>
    </ownerSignature>

</ownershipDocument>

