<!DOCTYPE HTML PUBLIC "-//SoftQuad Software//DTD HoTMetaL PRO 6.0::19990601::extensions to HTML 4.0//EN" "hmpro6.dtd">
<HTML>
  <HEAD>
	 <TITLE>S-8 1 a2107024zs-8</TITLE>
  </HEAD>
  <BODY LINK="#0000ff">
	 <P ALIGN="CENTER"><B><FONT SIZE="2">As filed with the Securities and
		Exchange Commission on April 17, 2003</FONT></B></P>
	 <P ALIGN="RIGHT">Registration No. 333- </P>
	 <P>&nbsp;</P>
	 <P ALIGN="CENTER"><B><FONT SIZE="5">SECURITIES AND EXCHANGE COMMISSION<BR>
		</FONT><FONT SIZE="2">Washington, D.C. 20549 </FONT></B></P>
	 <P ALIGN="CENTER"><B><FONT SIZE="5">FORM S-8 </FONT></B></P>
	 <P ALIGN="CENTER"><FONT SIZE="2">REGISTRATION STATEMENT UNDER THE
		SECURITIES ACT OF 1933 </FONT></P>
	 <P ALIGN="CENTER"><B><FONT SIZE="5">WALGREEN CO.<BR> </FONT></B><FONT
		SIZE="5"></FONT><FONT SIZE="2">(Exact name of Registrant as specified in its
		charter) </FONT></P>
	 <P ALIGN="CENTER"></P>
	 <TABLE CELLSPACING="0" BORDER="0" WIDTH="624" ALIGN="CENTER">
		<TR>
		  <TD WIDTH="49%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Illinois<BR> </B>(State of other
				jurisdiction<BR> of incorporation or organization)</P></TD>
		  <TD WIDTH="2%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="49%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>36-1924025<BR> </B><FONT SIZE="2">(I.R.S.
				Employer<BR> Identification No.)</FONT></P></TD>
		</TR>
	 </TABLE>
	 <P ALIGN="CENTER"><B><FONT SIZE="2"></FONT></B></P>
	 <P ALIGN="CENTER"><B>200 Wilmot Road<BR> Deerfield, Illinois 60015</B><BR>
		(Address of Principal Executive Offices) (Zip code) </P>
	 <P ALIGN="CENTER"><B></B></P>
	 <P ALIGN="CENTER"><B>Walgreen Co. Option 3000 Plan</B><BR> (Full title of
		the plan) </P>
	 <P ALIGN="CENTER"><B>Julian A. Oettinger</B><B><BR>Senior Vice President,
		General Counsel and Corporate Secretary</B><B><BR>Walgreen Co.<BR></B><B>200
		Wilmot Road</B><BR><B>Deerfield, Illinois 60015</B><BR> (Name and address of
		agent for service) </P>
	 <P ALIGN="CENTER"><B>(847) 914-3004<BR> </B>(Telephone number, including
		area code, of agent for service) </P>
	 <P ALIGN="CENTER"><B>CALCULATION OF REGISTRATION FEE </B></P>
	 <TABLE CELLSPACING="0" BORDER="0" WIDTH="789" ALIGN="CENTER">
		<TR>
		  <TD VALIGN="MIDDLE" COLSPAN="9" WIDTH="787">
			 <P><FONT SIZE="2"></FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="22%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Title of securities<BR> to be registered<FONT
				SIZE="2"><BR> </FONT></B><FONT SIZE="2"></FONT></P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="12%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Amount to be<BR> registered (1)<FONT
				SIZE="2"><BR> </FONT></B><FONT SIZE="2"></FONT></P></TD>
		  <TD WIDTH="1%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="19%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Proposed maximum<BR> offering price<BR> per
				share<FONT SIZE="2"><BR> </FONT></B><FONT SIZE="2"></FONT></P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Proposed maximum<BR> aggregate<BR> offering
				price<BR> </B><FONT SIZE="2"></FONT></P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Amount of<BR> registration fee<BR> </B></P></TD>

		</TR>
		<TR>
		  <TD VALIGN="MIDDLE" COLSPAN="9" WIDTH="787">
			 <P>Common Stock, par value $0.078125 per share (2):</P></TD>
		</TR>
		<TR VALIGN="MIDDLE">
		  <TD WIDTH="22%" VALIGN="MIDDLE">
			 <P> --Reserved and not subject to awards outstanding under the
				Plan</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="12%" VALIGN="BOTTOM"> 71,225</TD>
		  <TD WIDTH="1%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="19%" VALIGN="BOTTOM"> $31.10 (3)</TD>
		  <TD WIDTH="0%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="BOTTOM"> $2,215,098</TD>
		  <TD WIDTH="0%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="BOTTOM">
			 <P>$180.00</P></TD>
		</TR>
		<TR VALIGN="MIDDLE">
		  <TD WIDTH="22%" VALIGN="MIDDLE">
			 <P> --Issuable pursuant to awards outstanding under the plan</P></TD>

		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="12%" VALIGN="BOTTOM"> 10,128,775</TD>
		  <TD WIDTH="1%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="19%" VALIGN="BOTTOM">
			 <P>$ 29.1875<B> </B>(4)</P></TD>
		  <TD WIDTH="0%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="BOTTOM"> $295,633,621</TD>
		  <TD WIDTH="0%" VALIGN="BOTTOM">&nbsp;</TD>
		  <TD WIDTH="20%" VALIGN="BOTTOM"> $23,947.00</TD>
		</TR>
		<TR>
		  <TD VALIGN="MIDDLE" COLSPAN="9" WIDTH="787">&nbsp;</TD>
		</TR>
	 </TABLE>
	 <P>(1) This registration statement shall also cover any additional shares
		of Common Stock which become issuable under the plan being registered pursuant
		to this registration statement by reason of any stock dividend, stock split,
		recapitalization or any other similar transaction effected without the receipt
		of consideration which results in an increase in the number of the outstanding
		shares of Common Stock of Walgreen Co. (the "Registrant"). </P>
	 <P>(2) Including the associated preferred share purchase rights (the
		"Preferred Share Purchase Rights") to purchase Junior Participating Preferred
		Stock of the Registrant. Prior to the occurrence of certain events, the
		Preferred Share Purchase Rights will not be traded separately from the Common
		Stock. </P>
	 <P>(3) Estimated in accordance with Rules 457(c) and (h)(1) under the
		Securities Act of 1933, as amended (the "Securities Act"), the proposed maximum
		aggregate offering price and the amount of the registration fee are based upon
		the average of the high and low sale prices for a share of Common Stock of the
		Registrant as reported on the New York Stock Exchange on April 16, 2003.</P>
	 <P> (4) In accordance with Rule 457(h)(1) of the Securities Act, the
		proposed maximum offering price per share, proposed maximum aggregate offering
		price and the amount of the registration fee are based upon the weighted
		average exercise price of $29.1875 per share.</P>
	 <P ALIGN="CENTER"><BR> <B>PART I<BR> <BR> INFORMATION REQUIRED IN THE
		SECTION 10(a) PROSPECTUS </B></P>
	 <P><B>Item 1. Plan Information</B></P>
	 <P> Not required to be filed in this Registration Statement.</P>
	 <P><B>Item 2. Registrant Information and Employee Plan Annual
		Information</B></P>
	 <P> Not required to be filed in this Registration Statement.</P>
	 <P ALIGN="CENTER"><BR> <B>PART II<BR> <BR> INFORMATION REQUIRED IN THE
		REGISTRATION STATEMENT</B></P>
	 <P ALIGN="CENTER"></P>
	 <P><B>Item 3. Incorporation of Documents by Reference </B></P>
	 <P>This Registration Statement incorporates herein by reference the
		following documents which have been filed with the Securities and Exchange
		Commission (the "Commission") by the Registrant: </P>
	 <OL>
		<LI>The Registrant's Annual Report on Form 10-K for the fiscal year ended
		  August 31, 2002; </LI>
		<LI>The Registrant&#146;s Quarterly Report on Form 10-Q for the quarter
		  ended November 30, 2002;</LI>
		<LI>The Registrant&#146;s Quarterly Report on Form 10-Q for the quarter
		  ended February 28, 2003;</LI>
		<LI>The description of the Common Stock, par value $0.078125 per share,
		  and the associated Preferred Share Purchase Rights contained in the
		  Registrant&#146;s registration statements filed under the Securities Exchange
		  Act of 1934 (the "Exchange Act"), including any amendments or reports filed for
		  the purpose of updating such descriptions. </LI>
	 </OL>
	 <P>All other documents filed by the Registrant with the Commission pursuant
		to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the
		date of this Registration Statement and prior to the filing of a post-effective
		amendment to this Registration Statement which indicates that all securities
		offered have been sold or which de-registers all securities then remaining
		unsold, shall be deemed to be incorporated by reference in this Registration
		Statement and to be a part hereof from the date of filing of such documents.
		</P>
	 <P>Any statement contained herein or in a document incorporated herein by
		reference shall be deemed to be modified or superseded for purposes hereof to
		the extent that a statement contained herein or in any other subsequently filed
		document incorporated herein by reference modifies or supersedes such
		statement. Any such statement so modified or superseded shall not be deemed,
		except as so modified or superseded, to constitute a part hereof.</P>
	 <P><B>Item 4. Description of Securities. </B></P>
	 <P>Not applicable. </P>
	 <P><BR> <B>Item 5. Interest of Named Experts and Counsel. </B></P>
	 <P>Julian A. Oettinger, Senior Vice President, General Counsel and
		Corporate Secretary of the Registrant, has opined as to the legality of the
		securities being offered by this Registration Statement. At the time of
		rendering his opinion, Mr. Oettinger had a substantial interest in the
		Registrant, as defined by the rules of the Commission, in that the fair market
		value of the approximately 170,771 shares of Common Stock beneficially owned by
		him exceeds $50,000.</P>
	 <P><BR> <B>Item 6. Indemnification of Directors and Officers. </B></P>
	 <P>Provisions of the Illinois Business Corporation Act provide that the
		Registrant may, and in some circumstances must, indemnify the directors and
		officers of the Registrant against liabilities and expenses incurred by any
		such person by reason of the fact that such person was serving in such
		capacity, subject to certain limitations and conditions set forth in the
		statute. Substantially similar provisions that require such indemnification are
		contained in the Registrant&#146;s By-Laws, which are incorporated herein by
		reference. The Registrant has an insurance policy covering its directors and
		officers against certain personal liability, which may include liabilities
		under the Securities Act. </P>
	 <P><BR> <B>Item 7. Exemption From Registration Claimed. </B></P>
	 <P>Not applicable. </P>
	 <P><BR> <B>Item 8. Exhibits. </B></P>
	 <P>Reference is made to the Exhibit Index. </P>
	 <P><BR> <B>Item 9. Undertakings. </B></P>
	 <P>The undersigned Registrant hereby undertakes: </P>
	 <P>(1) to file, during any period in which offers or sales are being made,
		a post-effective amendment to this registration statement to include any
		material information with respect to the plan of distribution not previously
		disclosed in the registration statement or any material change to such
		information in the registration statement. </P>
	 <P>(2) that, for the purpose of determining any liability under the
		Securities Act, each such post-effective amendment shall be deemed to be a new
		registration statement relating to the securities offered therein, and the
		offering of such securities at that time shall be deemed to be the initial bona
		fide offering thereof.</P>
	 <P>(3) to remove from registration by means of a post-effective amendment
		any of the securities being registered which remain unsold at the termination
		of the offering. </P>
	 <P>(4) that, for purposes of determining any liability under the Securities
		Act, each filing of the Registrant&#146;s annual report pursuant to Section
		13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing
		of an employee benefit plan&#146;s annual report pursuant to Section 15(d) of
		the Exchange Act) that is incorporated by reference in the registration
		statement shall be deemed to be a new registration statement relating to the
		securities offered therein, and the offering of such securities at that time
		shall be deemed to be the initial bona fide offering thereof. </P>
	 <P>(5) Insofar as indemnification for liabilities arising under the
		Securities Act may be permitted to directors, officers and controlling persons
		of the Registrant pursuant to the provisions described in Item 6 or otherwise,
		the Registrant has been advised that in the opinion of the Commission such
		indemnification is against public policy as expressed in the Securities Act and
		is, therefore, unenforceable. In the event that a claim for indemnification
		against such liabilities (other than the payment by the Registrant of expenses
		incurred or paid by a director, officer or controlling person of the Registrant
		in the successful defense of any action, suit or proceeding) is asserted by
		such director, officer or controlling person in connection with the securities
		being registered hereunder, the Registrant will, unless in the opinion of its
		counsel the question has already been settled by controlling precedent, submit
		to a court of appropriate jurisdiction the question of whether such
		indemnification by it is against public policy as expressed in the Securities
		Act and will be governed by the final adjudication of such issue. </P>
	 <P ALIGN="CENTER"><BR> <B>SIGNATURES </B></P>
	 <P ALIGN="CENTER"></P>
	 <P>Pursuant to the requirements of the Securities Act, the Registrant
		certifies that it has reasonable grounds to believe that it meets all of the
		requirements for filing on Form S-8 and has duly caused this Registration
		Statement to be signed on its behalf by the undersigned, thereunto duly
		authorized, in the City of Deerfield, State of Illinois, on the 17th day of
		April, 2003. </P>
	 <TABLE CELLSPACING="0" BORDER="0" WIDTH="624">
		<TR>
		  <TD WIDTH="39%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"></FONT></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD VALIGN="MIDDLE" COLSPAN="2">
			 <P><FONT SIZE="2">WALGREEN CO.</FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="39%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="4%" VALIGN="MIDDLE">
			 <P>By:</P></TD>
		  <TD WIDTH="54%" VALIGN="MIDDLE">
			 <P><BR> /s/ Roger L. Polark<BR> Roger L. Polark<BR> <I>Senior Vice
				President<BR> and Chief Financial Officer</I></P></TD>
		</TR>
	 </TABLE>
	 <P><B><FONT SIZE="2"> </FONT></B></P>
	 <P ALIGN="CENTER">POWER OF ATTORNEY</P>
	 <P ALIGN="CENTER"><FONT SIZE="1"></FONT></P>
	 <P ALIGN="JUSTIFY"> KNOW ALL PERSONS BY THESE PRESENTS, that each person
		whose signature appears below constitutes and appoints David W. Bernauer and
		Roger L. Polark, and each of them, his true and lawful attorneys-in-fact and
		agents, with full power of substitution and resubstitution for him and in his
		name, place and stead, in any and all capacities, to sign, execute and file
		this Registration Statement and any amendments (including, without limitation,
		post-effective amendments) to this Registration Statement, and to file the
		same, with all exhibits thereto and all documents required to be filed with
		respect therewith, with the Securities and Exchange Commission or any
		regulatory authority, granting unto such attorneys-in-fact and agents full
		power and authority to do and perform each and every act and thing requisite
		and necessary to be done in connection therewith and about the premises in
		order to effectuate the same as fully to all intents and purposes as he might
		or could do if personally present, hereby ratifying and confirming all that
		such attorneys-in-fact and agents or his or their substitute or substitutes,
		may lawfully do or cause to be done.</P>
	 <P ALIGN="JUSTIFY"> </P>
	 <P> Pursuant to the requirements of the Securities Act of 1933, as amended,
		this Registration Statement has been signed by the following persons in the
		capacities on this 17th day of April, 2003.</P>
	 <TABLE CELLSPACING="0" BORDER="0" WIDTH="439">
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P ALIGN="CENTER"><FONT SIZE="2"></FONT><B><FONT
				SIZE="1">Signature</FONT><FONT SIZE="2"> </FONT></B></P> </TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P ALIGN="CENTER"><B><FONT SIZE="1">Title</FONT><FONT SIZE="2">
				</FONT></B></P> </TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR VALIGN="MIDDLE">
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM"> /s/ David W. Bernauer<BR> David W.
			 Bernauer<BR><BR><BR></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2">&nbsp;</FONT></P>
			 <P>&nbsp;</P>
			 <P>Chairman of the Board, Chief Executive Officer and Director
				(Principal Executive Officer)</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ Roger L. Polark<BR>Roger L. Polark<BR><BR><BR></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>&nbsp;</P>
			 <P>Senior Vice President and Chief Financial Officer (Principal
				Financial Officer)</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ William M. Rudolphsen <BR>William M.
				Rudolphsen<BR><BR></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Controller (Principal Accounting Officer)</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2">&nbsp;</FONT></P>
			 <P>/s/ William C. Foote<BR> William C. Foote</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2">&nbsp;</FONT></P>
			 <P>/s/ James J. Howard<BR>James J. Howard</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>/s/ Alan G. McNally<BR> Alan G. McNally</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ Cordell Reed<BR>Cordell Reed<BR></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director<BR></P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR><BR>/s/ Jeffrey A. Rein<BR>Jeffrey A. Rein<BR><BR></P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>President, Chief Operating Officer and Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ David Y. Schwartz <BR>David Y. Schwartz</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P></P> <BR>Director</TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ John B. Schwemm John B. Schwemm</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ Marilou M. von Ferstel<BR> Marilou M. von
				Ferstel</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="53%" VALIGN="BOTTOM">
			 <P><BR> /s/ C.R. Walgreen III <BR>C.R. Walgreen III</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		  <TD WIDTH="44%" VALIGN="BOTTOM">
			 <P><FONT SIZE="2"><BR> </FONT></P>
			 <P>Director</P></TD>
		  <TD WIDTH="0%" VALIGN="MIDDLE">
			 <P><FONT SIZE="2"><BR> </FONT></P></TD>
		</TR>
	 </TABLE>
	 <P ALIGN="CENTER"><BR> <B>EXHIBIT INDEX</B></P>
	 <TABLE CELLSPACING="0" BORDER="0" WIDTH="630">
		<TR>
		  <TD WIDTH="9%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><FONT SIZE="2"></FONT><B>Exhibit No.<FONT SIZE="2">
				</FONT></B></P> </TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B>Description<FONT SIZE="2"> </FONT></B></P> </TD>

		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">
			 <P ALIGN="CENTER"><B><FONT SIZE="2"><BR> </FONT></B><FONT
				SIZE="2"></FONT></P></TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">4.1</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE"> Articles of Incorporation of the
			 Registrant, as amended, filed with the Securities and Exchange Commission as
			 Exhibit 3(a) to the Registrant&#146;s Quarterly Report on Form 10-Q for the
			 quarter ended February 28, 1999, and incorporated by reference herein.</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">4.2</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>By-Laws of the Registrant, as amended and restated effective as of
				April 9, 2002, filed with the Securities and Exchange Commission as Exhibit
				3(b) to the Registrant&#146;s Annual Report on Form 10-K for the fiscal year
				ended August 31, 2002, and incorporated by reference herein.</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">4.3</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Rights Agreement dated as of July 10, 1996, between the Registrant
				and Harris Trust and Savings Bank, filed with the Securities and Exchange
				Commission as Exhibit 1 to Registration Statement on Form 8-A on July 11, 1996
				(File No. 1-604), and incorporated by reference herein.</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">4.4</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Walgreen Co. Option 3000 Plan, filed with the Securities and
				Exchange Commission as Exhibit 10(e) to the Registrant&#146;s Quarterly Report
				on Form 10-Q for the quarter ended February 28, 2003, and incorporated by
				reference herein.</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">5.1</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Legal Opinion of Julian A. Oettinger, Senior Vice President,
				General Counsel and Corporate Secretary of the Registrant, as to the legality
				of the securities being offered (filed herewith).</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">23.1</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Consent of Julian A. Oettinger, Senior Vice President, General
				Counsel and Corporate Secretary of the Registrant (included in Exhibit
				5.1).</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">23.2</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Consent of Deloitte &amp; Touche LLP, Independent Accountants
				(filed herewith).</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
		<TR>
		  <TD WIDTH="9%" VALIGN="TOP">
			 <P ALIGN="RIGHT">24</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="80%" VALIGN="MIDDLE">
			 <P>Power of Attorney (included on signature page of this Registration
				Statement).</P></TD>
		  <TD WIDTH="3%" VALIGN="MIDDLE">&nbsp;</TD>
		  <TD WIDTH="5%" VALIGN="MIDDLE">&nbsp;</TD>
		</TR>
	 </TABLE>
	 <P ALIGN="CENTER"><B><FONT SIZE="2"></FONT></B></P>
	 <P ALIGN="CENTER">&nbsp;</P>
	 <P ALIGN="RIGHT">&nbsp;</P>
	 <P ALIGN="RIGHT">Exhibit 5.1</P>
	 <P>April 17, 2003</P>
	 <P>Walgreen Co.<BR> 200 Wilmot Road<BR>Deerfield, Illinois 60015</P>
	 <P><B>&nbsp;</B></P>
	 <P>Dear Ladies and Gentlemen:</P>
	 <P>I have acted as counsel for Walgreen Co., an Illinois corporation (the
		"Company"), in connection with the filing by the Company of a Registration
		Statement on Form S-8 (the "Registration Statement") with the Securities and
		Exchange Commission, pursuant to which the Company proposes to register
		10,200,000 shares of the Company&#146;s Common Stock (the "Shares") and the
		related Preferred Share Purchase Rights (the "Rights"). The Shares and Rights
		are issuable in connection with the Company&#146;s Option 3000 Plan (the
		"Plan"). I have examined such records and documents as I have deemed necessary
		for the purpose of this opinion.</P>
	 <P>Based upon the foregoing, I am of the opinion that the Shares and the
		Rights have been duly authorized and, when issued and delivered in accordance
		with the terms of the Plan, will be validly issued, fully paid and
		non-assessable.</P>
	 <P>I consent to the filing of this opinion as Exhibit 5.1 to the
		Registration Statement.</P>
	 <P>Very truly yours,</P>
	 <P>&nbsp;</P>
	 <P>/s/ Julian A. Oettinger<BR>Julian A. Oettinger<BR>Senior Vice President,
		<BR>General Counsel and Secretary</P>
	 <P>&nbsp;</P>
	 <P><FONT SIZE="1">&nbsp;</FONT></P>
	 <P>&nbsp;</P>
	 <P ALIGN="RIGHT"><FONT SIZE="2">&nbsp;</FONT></P>
	 <P ALIGN="RIGHT">Exhibit 23.2</P>
	 <P ALIGN="RIGHT"></P>
	 <P ALIGN="CENTER"><B>INDEPENDENT AUDITORS&#146; CONSENT</B></P>
	 <P>&nbsp;</P>
	 <P>We consent to the incorporation by reference in this Registration
		Statement of Walgreen Co. and subsidiaries (the "Company") on Form S-8 of our
		report dated September 27, 2002, relating to the consolidated financial
		statements of the Company as of and for the year ended August 31, 2002,
		incorporated by reference in the Annual Report on Form 10-K of the Company for
		the year ended August 31, 2002.</P>
	 <P>/s/ Deloitte &amp; Touche LLP</P>
	 <P>Chicago, IL<BR>April 16, 2003</P>
	 <P ALIGN="CENTER"><B></B></P>
	 <P ALIGN="CENTER">&nbsp;</P>
	 <P ALIGN="CENTER">&nbsp;</P> </BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "s8.htm", "secsgml_size_bytes": 29729}]
{"company-data": {"conformed-name": "WALGREEN CO", "cik": "0000104207", "assigned-sic": "5912", "irs-number": "361924025", "state-of-incorporation": "IL", "fiscal-year-end": "0831"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-104597", "film-number": "03653939"}, "business-address": {"street1": "200 WILMOT RD", "city": "DEERFIELD", "state": "IL", "zip": "60015", "phone": "8479402500"}, "mail-address": {"street1": "200 WILMOT RD", "city": "DEERFIELD", "state": "IL", "zip": "60015"}}
S-8 1 a2107024zs-8
As filed with the Securities and
		Exchange Commission on April 17, 2003
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER THE
		SECURITIES ACT OF 1933
WALGREEN CO.
(Exact name of Registrant as specified in its
		charter)
Illinois
(State of other
				jurisdiction
of incorporation or organization)
36-1924025
(I.R.S.
				Employer
Identification No.)
200 Wilmot Road
Deerfield, Illinois 60015
(Address of Principal Executive Offices) (Zip code)
Walgreen Co. Option 3000 Plan
(Full title of
		the plan)
Julian A. Oettinger
Senior Vice President,
		General Counsel and Corporate Secretary
Walgreen Co.
200
		Wilmot Road
Deerfield, Illinois 60015
(Name and address of
		agent for service)
(847) 914-3004
(Telephone number, including
		area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Title of securities
to be registered
Amount to be
registered (1)
Proposed maximum
offering price
per
				share
Proposed maximum
aggregate
offering
				price
Amount of
registration fee
Common Stock, par value $0.078125 per share (2):
--Reserved and not subject to awards outstanding under the
				Plan
71,225
$31.10 (3)
$2,215,098
$180.00
--Issuable pursuant to awards outstanding under the plan
10,128,775
$ 29.1875
(4)
$295,633,621
$23,947.00
(1) This registration statement shall also cover any additional shares
		of Common Stock which become issuable under the plan being registered pursuant
		to this registration statement by reason of any stock dividend, stock split,
		recapitalization or any other similar transaction effected without the receipt
		of consideration which results in an increase in the number of the outstanding
		shares of Common Stock of Walgreen Co. (the "Registrant").
(2) Including the associated preferred share purchase rights (the
		"Preferred Share Purchase Rights") to purchase Junior Participating Preferred
		Stock of the Registrant. Prior to the occurrence of certain events, the
		Preferred Share Purchase Rights will not be traded separately from the Common
		Stock.
(3) Estimated in accordance with Rules 457(c) and (h)(1) under the
		Securities Act of 1933, as amended (the "Securities Act"), the proposed maximum
		aggregate offering price and the amount of the registration fee are based upon
		the average of the high and low sale prices for a share of Common Stock of the
		Registrant as reported on the New York Stock Exchange on April 16, 2003.
(4) In accordance with Rule 457(h)(1) of the Securities Act, the
		proposed maximum offering price per share, proposed maximum aggregate offering
		price and the amount of the registration fee are based upon the weighted
		average exercise price of $29.1875 per share.
PART I
INFORMATION REQUIRED IN THE
		SECTION 10(a) PROSPECTUS
Item 1. Plan Information
Not required to be filed in this Registration Statement.
Item 2. Registrant Information and Employee Plan Annual
		Information
Not required to be filed in this Registration Statement.
PART II
INFORMATION REQUIRED IN THE
		REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
This Registration Statement incorporates herein by reference the
		following documents which have been filed with the Securities and Exchange
		Commission (the "Commission") by the Registrant:
The Registrant's Annual Report on Form 10-K for the fiscal year ended
		  August 31, 2002;
The Registrant's Quarterly Report on Form 10-Q for the quarter
		  ended November 30, 2002;
The Registrant's Quarterly Report on Form 10-Q for the quarter
		  ended February 28, 2003;
The description of the Common Stock, par value $0.078125 per share,
		  and the associated Preferred Share Purchase Rights contained in the
		  Registrant's registration statements filed under the Securities Exchange
		  Act of 1934 (the "Exchange Act"), including any amendments or reports filed for
		  the purpose of updating such descriptions.
All other documents filed by the Registrant with the Commission pursuant
		to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act subsequent to the
		date of this Registration Statement and prior to the filing of a post-effective
		amendment to this Registration Statement which indicates that all securities
		offered have been sold or which de-registers all securities then remaining
		unsold, shall be deemed to be incorporated by reference in this Registration
		Statement and to be a part hereof from the date of filing of such documents.
Any statement contained herein or in a document incorporated herein by
		reference shall be deemed to be modified or superseded for purposes hereof to
		the extent that a statement contained herein or in any other subsequently filed
		document incorporated herein by reference modifies or supersedes such
		statement. Any such statement so modified or superseded shall not be deemed,
		except as so modified or superseded, to constitute a part hereof.
Item 4. Description of Securities.
Not applicable.
Item 5. Interest of Named Experts and Counsel.
Julian A. Oettinger, Senior Vice President, General Counsel and
		Corporate Secretary of the Registrant, has opined as to the legality of the
		securities being offered by this Registration Statement. At the time of
		rendering his opinion, Mr. Oettinger had a substantial interest in the
		Registrant, as defined by the rules of the Commission, in that the fair market
		value of the approximately 170,771 shares of Common Stock beneficially owned by
		him exceeds $50,000.
Item 6. Indemnification of Directors and Officers.
Provisions of the Illinois Business Corporation Act provide that the
		Registrant may, and in some circumstances must, indemnify the directors and
		officers of the Registrant against liabilities and expenses incurred by any
		such person by reason of the fact that such person was serving in such
		capacity, subject to certain limitations and conditions set forth in the
		statute. Substantially similar provisions that require such indemnification are
		contained in the Registrant's By-Laws, which are incorporated herein by
		reference. The Registrant has an insurance policy covering its directors and
		officers against certain personal liability, which may include liabilities
		under the Securities Act.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
Reference is made to the Exhibit Index.
Item 9. Undertakings.
The undersigned Registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made,
		a post-effective amendment to this registration statement to include any
		material information with respect to the plan of distribution not previously
		disclosed in the registration statement or any material change to such
		information in the registration statement.
(2) that, for the purpose of determining any liability under the
		Securities Act, each such post-effective amendment shall be deemed to be a new
		registration statement relating to the securities offered therein, and the
		offering of such securities at that time shall be deemed to be the initial bona
		fide offering thereof.
(3) to remove from registration by means of a post-effective amendment
		any of the securities being registered which remain unsold at the termination
		of the offering.
(4) that, for purposes of determining any liability under the Securities
		Act, each filing of the Registrant's annual report pursuant to Section
		13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing
		of an employee benefit plan's annual report pursuant to Section 15(d) of
		the Exchange Act) that is incorporated by reference in the registration
		statement shall be deemed to be a new registration statement relating to the
		securities offered therein, and the offering of such securities at that time
		shall be deemed to be the initial bona fide offering thereof.
(5) Insofar as indemnification for liabilities arising under the
		Securities Act may be permitted to directors, officers and controlling persons
		of the Registrant pursuant to the provisions described in Item 6 or otherwise,
		the Registrant has been advised that in the opinion of the Commission such
		indemnification is against public policy as expressed in the Securities Act and
		is, therefore, unenforceable. In the event that a claim for indemnification
		against such liabilities (other than the payment by the Registrant of expenses
		incurred or paid by a director, officer or controlling person of the Registrant
		in the successful defense of any action, suit or proceeding) is asserted by
		such director, officer or controlling person in connection with the securities
		being registered hereunder, the Registrant will, unless in the opinion of its
		counsel the question has already been settled by controlling precedent, submit
		to a court of appropriate jurisdiction the question of whether such
		indemnification by it is against public policy as expressed in the Securities
		Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act, the Registrant
		certifies that it has reasonable grounds to believe that it meets all of the
		requirements for filing on Form S-8 and has duly caused this Registration
		Statement to be signed on its behalf by the undersigned, thereunto duly
		authorized, in the City of Deerfield, State of Illinois, on the 17th day of
		April, 2003.
WALGREEN CO.
By:
/s/ Roger L. Polark
Roger L. Polark
Senior Vice
				President
and Chief Financial Officer
POWER OF ATTORNEY
KNOW ALL PERSONS BY THESE PRESENTS, that each person
		whose signature appears below constitutes and appoints David W. Bernauer and
		Roger L. Polark, and each of them, his true and lawful attorneys-in-fact and
		agents, with full power of substitution and resubstitution for him and in his
		name, place and stead, in any and all capacities, to sign, execute and file
		this Registration Statement and any amendments (including, without limitation,
		post-effective amendments) to this Registration Statement, and to file the
		same, with all exhibits thereto and all documents required to be filed with
		respect therewith, with the Securities and Exchange Commission or any
		regulatory authority, granting unto such attorneys-in-fact and agents full
		power and authority to do and perform each and every act and thing requisite
		and necessary to be done in connection therewith and about the premises in
		order to effectuate the same as fully to all intents and purposes as he might
		or could do if personally present, hereby ratifying and confirming all that
		such attorneys-in-fact and agents or his or their substitute or substitutes,
		may lawfully do or cause to be done.
Pursuant to the requirements of the Securities Act of 1933, as amended,
		this Registration Statement has been signed by the following persons in the
		capacities on this 17th day of April, 2003.
Signature
Title
/s/ David W. Bernauer
David W.
			 Bernauer
Chairman of the Board, Chief Executive Officer and Director
				(Principal Executive Officer)
/s/ Roger L. Polark
Roger L. Polark
Senior Vice President and Chief Financial Officer (Principal
				Financial Officer)
/s/ William M. Rudolphsen
William M.
				Rudolphsen
Controller (Principal Accounting Officer)
/s/ William C. Foote
William C. Foote
Director
/s/ James J. Howard
James J. Howard
Director
/s/ Alan G. McNally
Alan G. McNally
Director
/s/ Cordell Reed
Cordell Reed
Director
/s/ Jeffrey A. Rein
Jeffrey A. Rein
President, Chief Operating Officer and Director
/s/ David Y. Schwartz
David Y. Schwartz
Director
/s/ John B. Schwemm John B. Schwemm
Director
/s/ Marilou M. von Ferstel
Marilou M. von
				Ferstel
Director
/s/ C.R. Walgreen III
C.R. Walgreen III
Director
EXHIBIT INDEX
Exhibit No.
Description
4.1
Articles of Incorporation of the
			 Registrant, as amended, filed with the Securities and Exchange Commission as
			 Exhibit 3(a) to the Registrant's Quarterly Report on Form 10-Q for the
			 quarter ended February 28, 1999, and incorporated by reference herein.
4.2
By-Laws of the Registrant, as amended and restated effective as of
				April 9, 2002, filed with the Securities and Exchange Commission as Exhibit
				3(b) to the Registrant's Annual Report on Form 10-K for the fiscal year
				ended August 31, 2002, and incorporated by reference herein.
4.3
Rights Agreement dated as of July 10, 1996, between the Registrant
				and Harris Trust and Savings Bank, filed with the Securities and Exchange
				Commission as Exhibit 1 to Registration Statement on Form 8-A on July 11, 1996
				(File No. 1-604), and incorporated by reference herein.
4.4
Walgreen Co. Option 3000 Plan, filed with the Securities and
				Exchange Commission as Exhibit 10(e) to the Registrant's Quarterly Report
				on Form 10-Q for the quarter ended February 28, 2003, and incorporated by
				reference herein.
5.1
Legal Opinion of Julian A. Oettinger, Senior Vice President,
				General Counsel and Corporate Secretary of the Registrant, as to the legality
				of the securities being offered (filed herewith).
23.1
Consent of Julian A. Oettinger, Senior Vice President, General
				Counsel and Corporate Secretary of the Registrant (included in Exhibit
				5.1).
23.2
Consent of Deloitte & Touche LLP, Independent Accountants
				(filed herewith).
24
Power of Attorney (included on signature page of this Registration
				Statement).
Exhibit 5.1
April 17, 2003
Walgreen Co.
200 Wilmot Road
Deerfield, Illinois 60015
Dear Ladies and Gentlemen:
I have acted as counsel for Walgreen Co., an Illinois corporation (the
		"Company"), in connection with the filing by the Company of a Registration
		Statement on Form S-8 (the "Registration Statement") with the Securities and
		Exchange Commission, pursuant to which the Company proposes to register
		10,200,000 shares of the Company's Common Stock (the "Shares") and the
		related Preferred Share Purchase Rights (the "Rights"). The Shares and Rights
		are issuable in connection with the Company's Option 3000 Plan (the
		"Plan"). I have examined such records and documents as I have deemed necessary
		for the purpose of this opinion.
Based upon the foregoing, I am of the opinion that the Shares and the
		Rights have been duly authorized and, when issued and delivered in accordance
		with the terms of the Plan, will be validly issued, fully paid and
		non-assessable.
I consent to the filing of this opinion as Exhibit 5.1 to the
		Registration Statement.
Very truly yours,
/s/ Julian A. Oettinger
Julian A. Oettinger
Senior Vice President,
General Counsel and Secretary
Exhibit 23.2
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration
		Statement of Walgreen Co. and subsidiaries (the "Company") on Form S-8 of our
		report dated September 27, 2002, relating to the consolidated financial
		statements of the Company as of and for the year ended August 31, 2002,
		incorporated by reference in the Annual Report on Form 10-K of the Company for
		the year ended August 31, 2002.
/s/ Deloitte & Touche LLP
Chicago, IL
April 16, 2003