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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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* SCHUTT DOUGLAS W (Last) (First) (Middle) 999 LAKE DRIVE (Street) ISSAQUAH WA 98027 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol COSTCO WHOLESALE CORP /NEW [ COST ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Executive VP
	3. Date of Earliest Transaction (Month/Day/Year) 05/02/2008
	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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/02/2008		M		4,000	A	$38.79	39,131	D
Common Stock	05/02/2008		M		12,000	A	$30.41	51,131	D
Common Stock	05/02/2008		M		36,000	A	$39.25	87,131	D
Common Stock	05/02/2008		M		24,000	A	$33.75	111,131	D
Common Stock	05/02/2008		S		76,000	D	(1)	35,131	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$38.79	05/02/2008		M			4,000	04/02/2002	04/02/2012	Common Stock	4,000	$38.79	0	D
Stock Option	$30.41	05/02/2008		M			12,000	04/01/2003	04/01/2013	Common Stock	12,000	$30.41	0	D
Stock Option	$39.25	05/02/2008		M			36,000	04/02/2002	04/02/2012	Common Stock	36,000	$39.25	0	D
Stock Option	$33.75	05/02/2008		M			24,000	04/01/2003	04/01/2013	Common Stock	24,000	$33.75	24,000	D

Explanation of Responses:

1. Sold as: 8690 @ 72.5000 100 @ 72.5050 6464 @ 72.5100 5200 @ 72.5150 100 @ 72.5175 2500 @ 72.5200 3100 @ 72.5250 4782 @ 72.5300 1009 @ 72.5400 100 @ 72.5425 15100 @ 72.5450 4400 @ 72.5500 100 @ 72.5550 1200 @ 72.5600 3100 @ 72.5650 1100 @ 72.5700 800 @ 72.5750 5029 @ 72.5800 1000 @ 72.5900 1225 @ 72.6000 601 @ 72.6050 500 @ 72.6100 900 @ 72.6150 3100 @ 72.6200 500 @ 72.6250 200 @ 72.6300 1300 @ 72.6350 100 @ 72.6375 1000 @ 72.6400 100 @ 72.6500 700 @ 72.6700 100 @ 72.6750 300 @ 72.6800 300 @ 72.6900 100 @ 72.6950 100 @ 72.7000 200 @ 72.7100 200 @ 72.7200 200 @ 72.7300 200 @ 72.7400 100 @ 72.7550 100 @ 75.7600

Remarks:

	Deanna K. Nakashima, attorney-in-fact	05/02/2008
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.