Elizabeth T. Hirsch, Director, Investor Relations
Praxair, Inc.
39 Old Ridgebury Road
Danbury, Connecticut 06810-5113
e-mail: investor_relations@praxair.com
(203) 837-2210

INVESTOR INFORMATION AT WWW.PRAXAIR.COM/INVESTORS
— Contact information
— Stock information
— Business trends
— Presentations
— Annual reports
— Quarterly earnings
— SEC filings
— Governance
— Sustainability Report
— FAQs
— Five-year financials
— Financial news

COMMON STOCK LISTING (SYMBOL: PX)
New York Stock Exchange

OTHER STOCK EXCHANGES TRADING PRAXAIR STOCK
Cincinnati
Midwest
Pacific

NUMBER OF SHAREHOLDERS
There were 23,546 registered shareholders of record as of December 31, 2003.

DIVIDEND POLICY
Dividends on Praxair’s common stock are usually declared and paid quarterly. Praxair’s objective is to continue quarterly dividends and consider annual dividend increases in conjunction with continued growth in earnings per share.

STOCK TRANSFER AGENT AND STOCK RECORD KEEPING
Registrar and Transfer Company is Praxair’s stock transfer agent and registrar, and maintains shareholder records. For information about account records, stock certificates, change of address and dividend payments, contact:
1-800-368-5948
e-mail address for investor inquiries: info@rtco.com
website address: http://www.rtco.com

ADDRESS SHAREHOLDER INQUIRIES TO:
Shareholder Relations Department
Registrar and Transfer Company
10 Commerce Drive
Cranford, NJ 07016

DIVIDEND REINVESTMENT PLAN
Praxair provides investors a convenient, low-cost program that allows purchases of Praxair stock without commissions and automatically reinvests dividends by purchasing additional shares of stock. Contact Investor Relations at Registrar and Transfer Company for full details at the address above.

ANNUAL SHAREHOLDERS MEETING
The 2004 annual meeting of shareholders of Praxair, Inc. will be held at 9:30 a.m. on Tuesday, April 27, 2004 at the Sheraton Danbury, 18 Old Ridgebury Road, Danbury, Connecticut.

NYSE QUARTERLY STOCK PRICE AND DIVIDEND INFORMATION
Stock prices and dividends have been restated to reflect the December 15, 2003 two-for-one stock split (see Note 1 to the consolidated financial statements).

 
TRADING
TRADING
DIVIDEND
 
HIGH
LOW
CLOSE
PER SHARE
2003
First Quarter
$30.07
$25.02
$28.18
$0.1075
Second Quarter
$31.95
$27.95
$30.05
$0.1075
Third Quarter
$32.90
$29.34
$30.98
$0.1075
Fourth Quarter
$38.26
$31.15
$38.20
$0.1350
2002
First Quarter
$ 30.56
$ 23.98
$ 29.90
$0.095
Second Quarter
$ 30.20
$ 25.75
$ 28.49
$0.095
Third Quarter
$ 29.30
$ 22.28
$ 25.56
$0.095
Fourth Quarter
$ 29.75
$ 24.59
$ 28.89
$0.095
2001
First Quarter
$ 24.79
$ 19.69
$ 22.33
$0.085
Second Quarter
$ 27.00
$ 22.05
$ 23.50
$0.085
Third Quarter
$ 24.82
$ 18.30
$ 21.00
$0.085
Fourth Quarter
$ 27.96
$ 20.35
$ 27.63
$0.085