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 * BROWN MICHAEL K   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) EVP - Store Operations (Last) (First) (Middle) 1000 LOWE'S BOULEVARD 3. Date of Earliest Transaction (Month/Day/Year) 08/22/2008 (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 08/22/2008   M   120,000 A $ 22.85 265,721 (1) D   Common Stock 08/22/2008   M   13,512 A $ 21.995 279,233 D   Common Stock 08/22/2008   M   4,546 A $ 21.995 283,779 D   Common Stock 08/22/2008   S   95,657 D $ 24.76 188,122 D   Common Stock 08/22/2008   S   1,000 D $ 24.765 187,122 D   Common Stock 08/22/2008   S   18,400 D $ 24.77 168,722 D   Common Stock 08/22/2008   S   19,077 D $ 24.78 149,645 D   Common Stock 08/22/2008   S   3,824 D $ 24.79 145,821 D   Common Stock 08/22/2008   S   100 D $ 24.7925 145,721 D   Common Stock               78,660.62 I By 401k Plan Common Stock               640 I by Daughter Common Stock               640 I by Son

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

Incentive Stock Option (right to buy)

$ 21.995

08/22/2008

M

4,546

03/01/2004

03/01/2009

Common Stock

4,546

$ 0

0

D

Non-Qualified Stock Option (right to buy)

$ 21.995

08/22/2008

M

13,512

03/01/2003

03/01/2009

Common Stock

13,512

$ 0

0

D

Non-Qualified Stock Option (right to buy)

$ 22.85

08/22/2008

M

120,000

02/01/2005

02/01/2009

Common Stock

120,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
BROWN MICHAEL K 1000 LOWE'S BOULEVARD MOORESVILLE, NC 28117			EVP - Store Operations

Signatures

By: Sandra Felton For: Michael K. Brown		08/26/2008
**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)	Direct Holdings include 396 shares acquired under the Lowe's Employee Stock Purchase Plan.
Remarks: The information provided for the shares held by the 401k Plan in this report are based on a plan statement dated as of August 15, 2008.

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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