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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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

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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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