SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

MUHLEMAN DOUGLAS J

(Last)

(First)

(Middle)

ONE BUSCH PLACE

(Street)

ST. LOUIS

63118-1852

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ANHEUSER-BUSCH COMPANIES, INC. [ BUD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Strategy Committee Member

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2004

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock ($1 par value)	12/01/2004		M		8,036	A	$12.4335	28,846	D
Common Stock ($1 par value)	12/01/2004		F		1,982	D	$50.415	26,864	D
Common Stock ($1 par value)	12/01/2004		M		4,425	A	$16.1681	31,289	D
Common Stock ($1 par value)	12/01/2004		F		1,420	D	$50.415	29,869	D
Common Stock ($1 par value)	12/01/2004		M		5,516	A	$16.1681	35,385	D
Common Stock ($1 par value)	12/01/2004		M		39,600	A	$20.3438	74,985	D
Common Stock ($1 par value)	12/01/2004		S		45,116	D	$50.6143	29,869	D
Common Stock ($1 par value)								1,115	I	By daughter
Common Stock ($1 par value)								1,115	I	By son
Common Stock ($1 par value)								9,991⁽¹⁾	I	401(k) plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (Right to Buy) - ISO	$12.4335	12/01/2004		M			8,036	⁽²⁾	12/13/2004	Common Stock	8,036	$0	0	D
Employee Stock Option (Right to Buy) - ISO	$16.1681	12/01/2004		M			4,425	⁽³⁾	12/19/2005	Common Stock	4,425	$0	1,755	D
Employee Stock Option (Right to Buy) - NQ	$16.1681	12/01/2004		M			5,516	⁽³⁾	12/19/2005	Common Stock	5,516	$0	0	D
Employee Stock Option (Right to Buy) - NQ	$20.3438	12/01/2004		M			39,600	⁽⁴⁾	12/17/2006	Common Stock	39,600	$0	5,486	D
Phantom Stock Units	⁽⁵⁾							⁽⁶⁾	⁽⁶⁾	Common Stock	⁽⁶⁾		2,591⁽¹⁾	D

Explanation of Responses:

1. Based on the latest plan statement as of September 28, 2004.

2. The options became exercisable over a three year period beginning on December 14, 1995.

3. The options became exercisable in three equal annual installments beginning on December 20, 1996.

4. The options became exercisable over a three year period beginning on December 18, 1997.

5. Each phantom share represents the value of one actual share of Common Stock.

6. Represents reporting person's interest in phantom shares of Anheuser-Busch Companies, Inc. resulting from participation in the Anheuser-Busch 401(k) Restoration Plan. Phantom shares have no exercise feature nor any expiration date.

Remarks:

	Laura H. Reeves, Attorney-in-Fact for Douglas J. Muhleman	12/03/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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