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 * SCHUTT DOUGLAS W   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 (Last) (First) (Middle) 999 LAKE DRIVE 3. Date of Earliest Transaction (Month/Day/Year) 05/02/2008 (Street) ISSAQUAH, WA 98027 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 05/02/2008   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

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

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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
SCHUTT DOUGLAS W 999 LAKE DRIVE ISSAQUAH, WA 98027			Executive VP

Signatures

Deanna K. Nakashima, attorney-in-fact		05/02/2008
**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)	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

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