AVALON HOLDINGS CORP — Director's Dealing 2003

Nov 21, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALON HOLDINGS CORP (AWX)
CIK: 0001061069
Period of Report: 2003-11-19

Reporting Person: CONSTABLE LOURDE JOHN (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-19	Common Stock	S	40000	$2.46	Disposed	418846	Indirect
2003-11-19	Common Stock	S	40000	$2.46	Disposed	383946	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	27200	Direct
Common Stock	34900	Indirect

Footnotes

F1: These securities are owned by John Constable d/b/a Constable Asset management, which is a Reporting Person.

F2: These securities may be deemed to be beneficially owned by (i) John Constable d/b/a Constable Asset Management ("John Constable"), the general partner ("GP") of Constable Group, LLC, the entity that serves as the GP of Constable Managing Partners, L.P. ("Managing") and Constable Managing Partners II, L.P. ("Managing II"). Managing serves as the GP of Constable Partners, L.P. ("Partners"), a private investment partnership. Managing II serves as the GP of Constable Partners II, L.P. ("Partners II"); (ii) Constable Group, LLC, the GP of Managing and Managing II. Managing serves as the GP of Partners. Managing II serves as the GP of Partners II; (iii) Managing, the entity that serves as the GP of Partners; and (iv) Partners, a private investment partnership.

F3: Each such Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F4: These securities may be deemed to be beneficially owned by (i) John Constable d/b/a Constable Asset Management, the sole member of Constable Group, LLC, the entity that serves as the GP of Managing which in turn serves the GP of Partners; (ii) Constable Group, the GP of Managing, the entity which serves as the GP of Partners; (iii) Managing, the entity that serves as the GP of Partners; and (iv) Partners, a private investment partnership in whose name the shares are held.

F5: Each such Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose

F6: These securities may be deemed to be beneficially owned by (i) John Constable d/b/a Constable Asset Management, the sole member of Constable Group, LLC, the entity which serves as the GP of Managing II, the entity which in turn serves as the GP of Partners II, a private investment partnership; and (ii) Constable Group, LLC, the entity that serves as GP of Managing II, the entity which in turn serves as GP of Partners II, a private investment partnership in whose name the shares are held. Each such Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.