Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
BLACK KENNETH W JR
  2. Issuer Name and Ticker or Trading Symbol
LOWES COMPANIES INC [LOW]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP Chief Accounting Officer
(Last)
(First)
(Middle)
1000 LOWE'S BOULEVARD
3. Date of Earliest Transaction (Month/Day/Year)
05/27/2005
(Street)

MOORESVILLE, NC 28117
4. If Amendment, Date 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
(City)
(State)
(Zip)
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 05/27/2005   M   10,000 A $ 23.5625 43,355 D  
Common Stock 05/27/2005   S   10,000 D $ 57.52 33,355 D  
Common Stock 05/27/2005   M   112 A $ 22.5 33,467 D  
Common Stock 05/27/2005   S   112 D $ 57.67 33,355 D  
Common Stock 05/27/2005   M   2,000 A $ 22.5 35,355 D  
Common Stock 05/27/2005   S   2,000 D $ 57.59 33,355 D  
Common Stock 05/27/2005   M   3,400 A $ 22.5 36,755 D  
Common Stock 05/27/2005   S   3,400 D $ 57.52 33,355 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Underlying Securities
(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 of Derivative Security: 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
Non-Qualified Stock Option (right to buy) $ 22.5 05/27/2005   M     112 12/04/2001 12/03/2005 Common Stock 112 $ 0 5,400 D  
Non-Qualified Stock Option (right to buy) $ 22.5 05/27/2005   M     2,000   (1) 12/03/2005 Common Stock 2,000 $ 0 3,400 D  
Non-Qualified Stock Option (right to buy) $ 22.5 05/27/2005   M     3,400 12/04/1999 12/03/2005 Common Stock 3,400 $ 0 0 D  
Non-Qualified Stock Option (right to buy) $ 23.5625 05/27/2005   M     10,000 02/02/2001 02/02/2007 Common Stock 10,000 $ 0 19,192 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BLACK KENNETH W JR
1000 LOWE'S BOULEVARD
MOORESVILLE, NC 28117
      SVP Chief Accounting Officer  

Signatures

 By: Janet Bernard For: Kenneth W. Black, Jr.   05/27/2005
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) 1,400 of the 2,000 non-qualified stock options became exercisable on 12/4/99. 356 became exercisable on 12/4/00, and 244 became exercisable on 12/4/01.

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