Statement of Changes of Beneficial Ownership

   
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
                                                                                  
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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(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

LENO SAM R 		2. Issuer Name and Ticker or Trading Symbol

ZIMMER HOLDINGS INC [ ZMH ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP Corp Fin and Ops and CFO
(Last)          (First)          (Middle)

C/O ZIMMER, INC., P. O. BOX 708 		3. Date of Earliest Transaction (MM/DD/YYYY)

2/24/2004
(Street)

WARSAW, IN 46580
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Transaction Date (MM/DD/YYYY) 2A. Deemed Execution Date, if any (MM/DD/YYYY) 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   2/24/2004     M    25000   A $25.73   81479   D  
 
Common Stock   2/24/2004     S    25000   D $76.90   56479   D  
 
Common Stock   2/25/2004     M    25000   A $25.73   81479   D  
 
Common Stock   2/25/2004     S    25000   D $76.97   56479   (1) D  
 
Common Stock                  435   (2) I   By 401(k) Plan  

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YYYY) 3A. Deemed Execution Date, if any (MM/DD/YYYY) 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Employee Stock Option (right to buy)   $25.73   2/24/2004     M        25000      (3) 7/15/2011   Common Stock   25000   $0   76807   D  
 
Employee Stock Option (right to buy)   $25.73   2/25/2004     M        25000      (3) 7/15/2011   Common Stock   25000   $0   51807   D  
 

Explanation of Responses:
( 1)  Includes 575 shares acquired under the Zimmer Holdings, Inc. Employee Stock Purchase Plan from June 30, 2003 through December 31, 2003.
( 2)  This figure is based upon a Zimmer Holdings, Inc. 401(k) Plan statement dated February 20, 2004.
( 3)  25,452 of the options vested on each of July 16, 2002 and 2003. 25,451 options will vest on July 16, 2004 and 25,452 will vest on July 16, 2005.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
LENO SAM R
C/O ZIMMER, INC.
P. O. BOX 708
WARSAW, IN 46580

EVP Corp Fin and Ops and CFO
Signatures
Chad F. Phipps, Attorney in Fact for Sam R. Leno (power of attorney previously filed) 2/26/2004
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

End of Filing


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