SEC Form 4
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

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
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1. Name and Address of Reporting Person*
Baker, W.     Randolph
(Last)                      (First)                      (Middle)
One Busch Place

(Street)
St. Louis, MO     63118-1852
(City)                      (State)                      (Zip)
2. Issuer Name and Ticker
    or Trading Symbol

Anheuser-Busch Companies, Inc.   (BUD)
3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)
4. Statement for
    (Month/Year)

    November 27, 2002

5. If Amendment,
    Date of Original
    (Month/Year)
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

                        Director                           10% Owner
           X          Officer                             Other

Officer/Other
Description           Vice President and Chief Financial Officer
7. Individual or Joint/Group
    Filing (Check Applicable Line)

X   Individual Filing
      Joint/Group Filing
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    (Instr. 3)
2. Transaction Date
    (Month/Day/Year)
 3. Transaction
    Code
    and
    Voluntary
    Code
    (Instr. 8)

Code  |  V    
4. Securities Acquired (A) or Disposed (D) Of
    (Instr. 3, 4, and 5)



        Amount      |         A/D         |         Price          
5. Amount of
    Securities
    Beneficially
    Owned at
    End ofMonth

    (Instr. 3 and 4)
6. Owner-
    ship
    Form:
    Direct(D)
    or
    Indirect (I)

    (Instr. 4)
7. Nature of
     Indirect
     Beneficial
     Ownership

    (Instr. 4)
COMMON STOCK ($1 par value)
|     

206,029
D (1)

COMMON STOCK ($1 par value)
|     

27,666 (2)
I (1)
401(k) plan
COMMON STOCK ($1 par value)
|     

41,200
I (1)
TR UA spouse's trusts FBO daughters
COMMON STOCK ($1 par value)


5,360
I (1)
By daughters







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).

(over)
SEC 1474 (3-99)
Baker, W. Randolph - November 27, 2002
Form 4 (continued)
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. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
    Security
3. Transaction
    Date

    (Month/
    Day/
    Year)
 4. Transaction
    Code
    and
    Voluntary (V)
    Code
    (Instr.8)


Code | V    
5. Number of Derivative
    Securities Acquired (A)
    or Disposed (D) Of

    (Instr. 3,4 and 5)
6. Date Exercisable(DE) and
    Expiration Date(ED)
    (Month/Day/Year)





  (DE)     |     (ED)  
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
    at End of
    Month
    (Instr.4) 		10.
Owner-
ship
Form of
Deriv-
ative
Security:
Direct
(D)
or
Indirect
(I) 		11. Nature of
      Indirect
      Beneficial
      Ownership
      (Instr.4)
Phantom Stock Units

|     
   
-
4,236 (2)
D (3)
Employee Stock Option (Right to Buy)
 $49.9100 11/27/2002
   A |     
    (A) 2,003
(4) | 11/26/2012
 Common Stock - 2,003
2,003
D
Employee Stock Option (Right to Buy)
 $49.9100 11/27/2002
   A |     
    (A) 297,997
(5) | 11/26/2012
 Common Stock - 297,997
297,997
D











Explanation of Responses :


** 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.

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. 		/s/ W. Randolph Baker
________________________________            12-02-2002    
** Signature of Reporting Person                         Date



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SEC 1474 (3-99)
Baker, W. Randolph - November 27, 2002
Form 4 (continued)
FOOTNOTE Descriptions for Anheuser-Busch Companies, Inc. (BUD)

Form 4 - November 27, 2002

W. Randolph Baker
One Busch Place

St. Louis, MO 63118-1852
Explanation of responses:

(1)   In connection with the Rights Agreement adopted by the Company, Preferred Stock Purchase Rights were distributed to shareholders and are deemed to be attached to the shares of Common Stock of the Company listed on this Form. One-quarter of a Preferred Stock Purchase Right is attached to each share of common stock. If and when the Rights become exercisable, the holder of each Right initially would be entitled to purchase one one-hundredth of a share of Series Junior B Participating Preferred Stock at a purchase price of $195 (both the number of fractional shares and the purchase price are subject to adjustment).
(2)   Based on latest plan statement as of October 1, 2002.
(3)   Anheuser-Busch 401(k) Restoration Plan.
(4)   The options vest as follows: 668 on 11/27/03, 668 on 11/27/04, and 667 on 11/27/05.
(5)   The options vest as follows: 99,333 on 11/27/03, 99,332 on 11/27/04, and 99,332 on 11/27/05.
Page 3