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 *
STONE LARRY D
  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)
President & COO
(Last)
(First)
(Middle)
1000 LOWE'S BOULEVARD
3. Date of Earliest Transaction (Month/Day/Year)
06/04/2007
(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 06/04/2007   M   268,732 A $ 13.7525 502,456 (1) D  
Common Stock 06/04/2007   S   15,000 D $ 32.74 487,456 D  
Common Stock 06/04/2007   S   17,100 D $ 32.73 470,356 D  
Common Stock 06/04/2007   S   6,500 D $ 32.72 463,856 D  
Common Stock 06/04/2007   S   6,300 D $ 32.71 457,556 D  
Common Stock 06/04/2007   S   6,600 D $ 32.705 450,956 D  
Common Stock 06/04/2007   S   217,232 D $ 32.7 233,724 D  
Common Stock               189,846.98 I By 401k Plan
Common Stock               218,058 I by Trust

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) $ 13.7525 06/04/2007   M     268,732   (2) 03/02/2008 Common Stock 268,732 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
STONE LARRY D
1000 LOWE'S BOULEVARD
MOORESVILLE, NC 28117
      President & COO  

Signatures

 By: Sandra Felton For: Larry D. Stone   06/06/2007
**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) Includes 380 shares acquired under the Lowe's Employee Stock Purchase Plan.
(2) 92,000 of the 268,732 non-qualified stock options became exercisable on 3/1/02, 92,000 became exercisable on 3/1/03, and 84,732 became exercisable on 3/1/04.
 
Remarks:
The information provided for the shares held by the 401k Plan in this report are based on a plan statement dated as of May 11, 2007.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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