Ownership Submission
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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
PRESTON STEVEN C
   2. Issuer Name and Ticker or Trading Symbol
SERVICEMASTER CO [SVM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Ex. Vice President
(Last)
(First)
(Middle)
3250 LACEY ROAD, SUITE 600		 3. Date of Earliest Transaction (Month/Day/Year)
03/01/2005
(Street)

DOWNERS GROVE, IL 60515-1700		 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 $.01 par value 03/01/2005   F   1,653 D $ 13.205 102,195 D  
Common stock $.01 par value               726 I by 401(k) plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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. SEC 1474 (9-02)

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 Options (Right to buy) $ 13.4667             02/13/1999 02/12/2007 Common stock $.01 par value 22,500   22,500 (1) D  
Stock Options (Right to buy) $ 13.83             02/08/2003 02/07/2009 Common Stock 100,000   100,000 (2) D  
1997 Option Plan (Right to Buy) $ 11.2222             02/13/1998 02/12/2007 Common stock $.01 par value 225,000   225,000 (2) D  
1997 Option Plan (Right to Buy) $ 12.3467             02/13/1998 02/12/2007 Common stock $.01 par value 22,500   22,500 (1) D  
1997 Option Plan (Right to Buy) $ 14.5911             02/13/2000 02/12/2007 Common stock $.01 par value 22,500   22,500 (1) D  
1997 Option Plan (Right to Buy) $ 15.7111             02/13/2001 02/12/2007 Common stock $.01 par value 22,500   22,500 (1) D  
1997 Option Plan (Right to Buy) $ 16.8355             02/13/2002 02/12/2007 Common stock $.01 par value 22,500   22,500 (1) D  
Non-Qual. Stock Option (Right to Buy) $ 18.075             01/29/2000 01/28/2009 Common stock $.01 par value 90,000   90,000 (2) D  
1998 Non-Qual.Stock Option (Right to Buy) $ 11.5             12/31/2000 12/31/2009 Common stock $.01 par value 235,158   235,158 (3) D  
1998 Non-Qual.Stock Option (Right to Buy) $ 18.2583             02/16/1999 02/15/2008 Common Stock 45,000   45,000 (2) D  
Senior Ex. Ownership Elec. Plan (Right to Buy) $ 8.75             08/08/2001 08/07/2007 Common stock $.01 par value 200,000   200,000 (2) D  
2000 Emplee Stock Option (Right to Buy) $ 9.88             03/18/2004 03/17/2013 Common Stock 66,667   66,667 (2) D  
2000 Emplee Stock Option (Right to Buy) $ 10.52             03/16/2002 03/15/2008 Common stock $.01 par value 250,000   250,000 (2) D  
WSH Emplee Stock Option (Right to Buy) $ 13.87             05/04/2000 05/03/2006 Common stock $.01 par value 2,523   2,523 (4) D  
2003 EIP Stock Appreciation Right $ 10.73             02/13/2005 02/12/2014 Common Stock 50,000   50,000 D  
2003 EIP Stock Appreciation Right $ 13.44             02/11/2006 02/10/2015 Common Stock 50,000   50,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PRESTON STEVEN C
3250 LACEY ROAD, SUITE 600
DOWNERS GROVE, IL 60515-1700		       Ex. Vice President  

Signatures

 Sandra L. Groman by power of attorney   03/03/2005
**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) Exercise Vesting/Exercise Prices - 1st annivresary 20% exercisable at 110% FMV:$12.3467 per share - 2nd anniversary 20% exercisable at 120% FMV - $15.7111 per share - 3rd anniversary - 20% exercisable - at 130% FMV $14.5911 per share - 4th anniversary 20% exercisable at 140% FMV $13.4667 - 5th anniversary 20% exercisable at 150% of FMV - $16.8355 per share FMV - Fair Market Value on Grant Date.
(2) The option is exercisable in five equal annual installments beginning on the first anniversary of the date of the grant.
(3) Option becomes exercisable 10% per year on anniversary date of the grant for a period of 8 years, the 9th anniversary the remaining 20% becomes exercisable..
(4) In 1999, ServiceMaster entered into a joint venture with Kleiner, Perkins, Caufield & Byers to develop an Internet company, We Serve Homes.com ("WSH"). A WSH option was granted in 2000. On January 11, 2002, the WSH option was converted into a ServiceMaster option at a ratio of 55.48 to 1, pursuant to a merger with a subsidiary of ServiceMaster in a transaction exempt under Rule 16b-7.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.