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

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(Print or Type Responses)

1. Name and Address of Reporting Person * LIBENSON RICHARD M   2. Issuer Name and Ticker or Trading Symbol COSTCO WHOLESALE CORP /NEW [COST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 4649 MORENA BLVD. 3. Date of Earliest Transaction (Month/Day/Year) 10/08/2010 (Street) SAN DIEGO, CA 92117 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 10/08/2010   M   12,000 A $ 36.1875 18,000 D   Common Stock 10/08/2010   M   12,000 A $ 39.65 30,000 D   Common Stock 10/08/2010   M   12,000 A $ 30.41 42,000 D   Common Stock 10/08/2010   M   12,000 A $ 37.35 54,000 D   Common Stock 10/08/2010   S   48,000 D (1) 6,000 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 Option

$ 36.1875

10/08/2010

M

12,000

04/02/2001

04/02/2011

Common Stock

12,000

$ 36.1875

0

D

Stock Option

$ 39.65

10/08/2010

M

12,000

04/01/2002

04/01/2012

Common Stock

12,000

$ 39.65

0

D

Stock Option

$ 30.41

10/08/2010

M

12,000

04/01/2003

04/01/2013

Common Stock

12,000

$ 30.41

0

D

Stock Option

$ 37.35

10/08/2010

M

12,000

04/01/2004

04/01/2014

Common Stock

12,000

$ 37.35

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LIBENSON RICHARD M 4649 MORENA BLVD. SAN DIEGO, CA 92117	X

Signatures

Deanna K. Nakashima, attorney-in-fact		10/12/2010
**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)	Shares sold as follows: 100 @ 64.1200 200 @ 64.1300 100 @ 64.1400 200 @ 64.1500 200 @ 64.1600 2537 @ 64.1700 700 @ 64.1800 763 @ 64.1900 1573 @ 64.2000 3127 @ 64.2100 700 @ 64.2300 1500 @ 64.2400 100 @ 64.2700 2484 @ 64.3100 200 @ 64.3200 489 @ 64.3300 1600 @ 64.3400 927 @ 64.3500 2200 @ 64.3600 100 @ 64.3650 400 @ 64.3700 2091 @ 64.3800 500 @ 64.3900 258 @ 64.4000 490 @ 64.4100 2402 @ 64.4200 300 @ 64.4300 1262 @ 64.4400 696 @ 64.4500 100 @ 64.4600 1400 @ 64.4700 1600 @ 64.4800 500 @ 64.5000 801 @ 64.5200 6148 @ 64.5300 2600 @ 64.5301 100 @ 64.5400 986 @ 64.5500 14 @ 64.5600 1700 @ 64.5701 52 @ 64.6000 1800 @ 64.7000 2000 @ 64.7101

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