Walgreen (WAG) 8-K WALGREEN CO. ANNOUNCES 31st CONSECUTIVE YEAR

COMPARATIVE INCOME STATEMENT		4th Qtr Ending: 08/31/2005				Fiscal Year Ending: 08/31/2005
		Amounts in Millions		Favorable/Unfavorable		Amounts in Millions		Favorable/Unfavorable
PRELIMINARY		This Year	Last Year	Amount	Pct	This Year	Last Year	Amount	Pct
Net Sales		10,494.9	9,426.7	1,068.2	11.3%	42,201.6	37,508.2	4,693.4	12.5%
Costs and Deductions
	Cost of Sales	7,561.8	6,812.4	-749.4	-11.0%	30,413.8	27,310.4	-3,103.4	-11.4%
	Selling, Occupancy & Admin [1][2][3]	2,434.9	2,102.1	-332.8	-15.8%	9,363.8	8,055.4	-1,308.4	-16.2%
Operating Income		498.2	512.2	-14.0	-2.7%	2,424.0	2,142.4	281.6	13.1%
	Net Other, Income(Expense)	8.9	6.9	2.0	29.0%	31.6	17.3	14.3	82.7%
Earnings Before Taxes		507.1	519.1	-12.0	-2.3%	2,455.6	2,159.7	295.9	13.7%
	Income Taxes	178.1	194.7	16.6	8.5%	896.1	809.9	-86.2	-10.6%
Earnings After Taxes		329.0	324.4	4.6	1.4%	1,559.5	1,349.8	209.7	15.5%
[1]	2004 Drug antitrust litigation settlement gains: 2nd Qtr - (2 Totaling) $12.7; 3rd Qtr - $3.0; 4th Qtr - $0.6
[2]	2005 Drug antitrust litigation settlement gains: 1st Qtr - $15.0; 2nd Qtr - $4.7; 3rd Qtr - $6.6
[3]	4th Qtr 2005 includes $54.7 loss for Hurricane Katrina
Earnings Per Share - Basic		$ 0.32	$ 0.32	$ -	0.0%	$ 1.53	$ 1.32	$ 0.21	15.9%
	Before Drug Litigation
Earnings Per Share - Diluted		$ 0.32	$ 0.32	$ -	0.0%	$ 1.52	$ 1.31	$ 0.21	16.0%
	Before Drug Litigation
Dividends Per Share		$ 0.06500	$ 0.05250	$ 0.01250	23.8%	$ 0.22250	$ 0.18188	$ 0.04063	22.3%
Weighted Avg Shares Basic		1,014.7	1,024.0			1,019.7	1,024.5
Weighted Avg Shares Diluted		1,024.9	1,030.9			1,028.3	1,031.8
Return on Avg Shareholder Equity		3.7%	4.1%			18.3%	17.7%
Effective Income Tax Rate		35.12%	37.50%			36.49%	37.50%
LIFO Charge/(Credit)		-2.0	-48.5			67.8	6.7

INCOME STATEMENT SUMMARY		1st Qtr Ending: 11/30/2004			2nd Qtr Ending: 02/28/2005			3rd Qtr Ending: 05/31/2005			4th Qtr Ending: 08/31/2005			Fiscal Year Ending: 08/31/2005
		% of	% to Sales		% of	% to Sales		% of	% to Sales		% of	% to Sales		% of	% to Sales
PRELIMINARY		Chg	2004	2003	Chg	2005	2004	Chg	2005	2004	Chg	2005	2004	Chg	2005	2004
Net Sales		13.4%	100.00	100.00	12.3%	100.00	100.00	13.1%	100.00	100.00	11.3%	100.00	100.00	12.5%	100.00	100.00
Costs and Deductions
	Cost of Sales	11.8%	72.62	73.63	11.0%	71.51	72.34	11.6%	72.15	73.09	11.0%	72.05	72.27	11.4%	72.07	72.81
	Selling, Occupancy & Admin [1][2][3]	15.8%	22.26	21.79	16.6%	21.43	20.64	16.6%	21.90	21.23	15.8%	23.20	22.30	16.2%	22.19	21.48
	Sub-Total	12.8%	94.88	95.42	12.3%	92.94	92.98	12.8%	94.05	94.32	12.1%	95.25	94.57	12.5%	94.26	94.29
Earnings Before Other Income		26.7%	5.12	4.58	12.9%	7.06	7.02	18.4%	5.95	5.68	-2.7%	4.75	5.43	13.1%	5.74	5.71
	Net Other, Income(Expense)	82.1%	0.05	0.03	67.5%	0.06	0.04	202.8%	0.10	0.04	29.0%	0.08	0.08	82.7%	0.08	0.05
Earnings Before Taxes		27.1%	5.17	4.61	13.3%	7.12	7.06	19.6%	6.05	5.72	-2.3%	4.83	5.51	13.7%	5.82	5.76
	Effective Income Tax Rate		35.72%	37.50%		37.25%	37.50%		37.25%	37.50%		35.12%	37.50%		36.49%	37.50%
Earnings After Taxes		30.7%	3.32	2.88	13.7%	4.47	4.41	20.1%	3.79	3.57	1.4%	3.13	3.44	15.5%	3.70	3.60
[1]	2004 Drug antitrust litigation settlement gains: 2nd Qtr - (2 Totaling) $12.7; 3rd Qtr - $3.0; 4th Qtr - $0.6
[2]	2005 Drug antitrust litigation settlement gains: 1st Qtr - $15.0; 2nd Qtr - $4.7; 3rd Qtr - $6.6
[3]	4th Qtr 2005 includes $54.7 loss for Hurricane Katrina

		Total	Percent Change in Sales				Key Operating Ratios			Other Items			Company Income and Return on Sales
		Company	Total	Drug Stores			Gross	[1][2]	Op	Net	Other		Pre-Tax	Tax	Income After Taxes
Period		Sales	Co	Total	Comp	Est	Profit	SGA	Income	Interest	Income	% Sales	% Sales	Rate	Amount	% Sales	% Chg
		Amounts in Millions
04-Q1		8,720.8	16.5	16.5	11.9	10.4	26.37	21.79	4.58	2.8	0.0	0.03	4.61	37.50	251.5	2.88	9.9
04-Q2		9,782.2	15.8	15.8	11.5	9.9	27.66	20.64	7.02	4.0	0.0	0.04	7.06	37.50	431.6	4.41	17.0
04-Q3		9,578.5	15.0	15.0	10.4	8.7	26.91	21.23	5.68	3.6	0.0	0.04	5.72	37.50	342.3	3.57	16.4
04-Q4		9,426.7	14.3	14.3	9.7	7.8	27.73	22.30	5.43	6.9	0.0	0.08	5.51	37.50	324.4	3.44	18.7
2004		37,508.2	15.4	15.4	10.9	9.3	27.19	21.48	5.71	17.3	0.0	0.05	5.76	37.50	1,349.8	3.60	15.9
		Amounts in Millions						[3]
05-Q1		9,889.1	13.4	13.4	9.4	7.9	27.38	22.26	5.12	5.1	0.0	0.05	5.17	35.72	328.6	3.32	30.7
05-Q2		10,987.0	12.3	12.3	7.7	6.2	28.49	21.43	7.06	6.7	0.0	0.06	7.12	37.25	490.9	4.47	13.7
05-Q3		10,830.6	13.1	13.1	8.7	7.0	27.85	21.90	5.95	10.9	0.0	0.10	6.05	37.25	411.0	3.79	20.1
05-Q4		10,494.9	11.3	11.3	7.0	5.3	27.95	23.20	4.75	8.9	0.0	0.08	4.83	35.12	329.0	3.13	1.4
2005		42,201.6	12.5	12.5	8.2	6.7	27.93	22.19	5.74	31.6	0.0	0.08	5.82	36.49	1,559.5	3.70	15.5
[1]	2004 Drug antitrust litigation settlement gains: 2nd Qtr - (2 Totaling) $12.7; 3rd Qtr - $3.0; 4th Qtr - $0.6
[2]	2005 Drug antitrust litigation settlement gains: 1st Qtr - $15.0; 2nd Qtr - $4.7; 3rd Qtr - $6.6                    &n bsp;
[3]	4th Qtr 2005 includes $54.7 loss for Hurricane Katrina

						STORE COUNT AND MONTHLY SALES INCREASES
									PRELIMINARY
Number of Drug Stores
					Six				Nine				Total
		1st Qtr	2nd Qtr		Mos		3rd Qtr		Mos		4th Qtr		Year
2003-04	Start of Period	4,227	4,291		4,227		4,336		4,227		4,414		4,227
	Opened	85	55		140		88		228		208		436
	Relocation	-20	-6		-26		-9		-35		-34		-69
	Closed	-1	-4		-5		-1		-6		-6		-12
	End of Period	4,291	4,336		4,336		4,414		4,414		4,582		4,582
2004-05	Start of Period	4,582	4,680		4,582		4,738		4,582		4,805		4,582
	Opened	111	67		178		85		263		172		435
	Relocation	-10	-7		-17		-17		-34		-21		-55
	Closed	-3	-2		-5		-1		-6		-3		-9
	End of Period	4,680	4,738		4,738		4,805		4,805		4,953		4,953
Monthly Sales Percent Increases
		Sep	Oct	Nov	Dec	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Year
	2003-04	17.8	16.6	15.3	17.7	13.2	16.3	17.4	15.1	12.6	15.5	13.4	14.1	15.4
	2004-05	13.2	11.8	15.2	8.9	14.6	14.3	16.1	9.6	13.4	12.0	10.1	11.9	12.5

						PRELIMINARY
INTERIM HIGHLIGHTS				Six		Nine		Total
		1st Qtr	2nd Qtr	Mos	3rd Qtr	Mos	4th Qtr	Year
Total Sales	2003-04	8,720.8	9,782.2	18,503.0	9,578.5	28,081.5	9,426.7	37,508.2
(In Millions)	2004-05	9,889.1	10,987.0	20,876.1	10,830.6	31,706.7	10,494.9	42,201.6
% of Increase	2003-04	16.5%	15.8%	16.1%	15.0%	15.8%	14.3%	15.4%
	2004-05	13.4%	12.3%	12.8%	13.1%	12.9%	11.3%	12.5%
Net Income	2003-04	251.5	431.6	683.1	342.3	1,025.4	324.4	1,349.8
[1][2][3]	2004-05	328.6	490.9	819.5	411.0	1,230.5	329.0	1,559.5
(In Millions)
% of Increase	2003-04	9.9%	17.0%	14.3%	16.4%	15.0%	18.7%	15.9%
	2004-05	30.7%	13.7%	20.0%	20.1%	20.0%	1.4%	15.5%
Diluted [1][2][3]
Earnings Per Share	2003-04	$ 0.24	$ 0.42	$ 0.66	$ 0.33	$ 0.99	$ 0.32	$ 1.31
Before Drug Litigation		$ 0.24	$ 0.41	$ 0.65	$ 0.33	$ 0.98	$ 0.32	$ 1.30
	2004-05	$ 0.32	$ 0.48	$ 0.80	$ 0.40	$ 1.20	$ 0.32	$ 1.52
Before Drug Litigation		$ 0.31	$ 0.47	$ 0.78	$ 0.40	$ 1.18
[1] 2004 Drug antitrust litigation settlement gains: 2nd Qtr - (2 Totaling) $12.7; 3rd Qtr - $3.0; 4th Qtr - $0.6
[2] 2005 Drug antitrust litigation settlement gains: 1st Qtr - $15.0; 2nd Qtr - $4.7; 3rd Qtr - $6.6
[3] 4th Qtr 2005 includes $54.7 loss for Hurricane Katrina

							PRELIMINARY
CONSOLIDATED BALANCE SHEET			August 31	August 31				August 31	August 31
			2005	2004				2005	2004
Current Assets			(Amounts in Millions)		Current Liabilities
	Cash & Equivalents		576.8	444.0		Short Term Borrowings		0.0	0.0
	Short Term Investments Available For Sale		494.8	1,251.5		Trade Accounts Payable		2,918.2	2,641.5
	Accounts Receivable, Less Allowance		1,396.3	1,169.1		Other Current Liabilities		1,491.9	1,370.5
	Inventories		5,592.7	4,738.6		Income Taxes		70.9	65.9
	Other Current Assets		255.9	161.2			Total Current Liabilities	4,481.0	4,077.9
		Total Current Assets	8,316.5	7,764.4
Non-Current Assets					Non-Current Liabilities
	Property and Equipment		6,165.0	5,446.4		Deferred Income Taxes		240.4	274.1
	Other Non-Current Assets		127.3	131.3		Other Non-Current Liabilities		997.7	850.4
		Total Non-Current Assets	6,292.3	5,577.7			Total Non-Current Liabilities	1,238.1	1,124.5
					Total Liabilities			5,719.1	5,202.4
					Shareholder Equity			8,889.7	8,139.7
Total Assets			14,608.8	13,342.1	Total Liabilities & Equity			14,608.8	13,342.1
STATEMENT OF CASH FLOWS			August 31	August 31				August 31	August 31
			2005	2004				2005	2004
Cash Flows From Operating Activities			(Amounts in Millions)		Provided/(Used) by Invest & Finance
	Net Income		1,559.5	1,349.8		Property, Plant & Equipment		(1,237.5)	(939.5)
	Depreciation & Amortization		482.1	403.1		Employee Stock Plan Proceeds		177.5	145.1
	Inc Tax Savings From Employee Stock Plans		33.9	50.3		Property & Equip Disp and Other		15.5	6.2
	Deferred Income Taxes		(70.8)	66.0		Cash Dividends		(214.5)	(176.9)
	Other		74.5	38.8		Stock Purchases		(781.8)	(299.2)
						Net Proceeds from Corp Owned Life Ins		10.1	10.2
						Other		14.4	28.9
						Short Term Investments Available For Sale		777.9	(1,242.8)
Changes in Current Assets & Liabilities:
	Inventory		(854.0)	(536.0)
	Trade Accounts Payable		276.7	233.7
	Accrued Expenses & Liabilities		97.8	207.6
	Income Taxes		5.0	(39.9)	Provided/(Used) by Invest & Finance			(1,238.4)	(2,468.0)
	Accounts Receivable		(224.9)	(171.6)
	Insurance Reserve		59.0	65.7		Changes In Cash & Equivalents		132.8	(824.0)
	Other Current Assets		(67.6)	(23.5)		Beginning Cash & Equivalents		444.0	1,268.0
Provided/(Used) for Operating Activities			1,371.2	1,644.0	Cash & Equivalents at End of Period			576.8	444.0