AVALON HOLDINGS CORP — Director's Dealing 2004

Jan 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVALON HOLDINGS CORP (AWX)
CIK: 0001061069
Period of Report: 2004-01-23

Reporting Person: CONSTABLE LOURDE JOHN (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-23	Common Stock	S	4500	$4.00	Disposed	22700	Direct
2004-01-23	Common Stock	S	70500	$4.00	Disposed	348346	Indirect
2004-01-23	Common Stock	S	64600	$4.00	Disposed	319346	Indirect
2004-01-23	Common Stock	S	5900	$4.00	Disposed	29000	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 dba Constable Asset Management, the general partner of Constable Group, LLC, the entity that serves as the general partner of Constable Managing Partners, LP and Constable Managing Partners II, LP. Constable Managing Partners, LP serves as the general partner of Constable Partners, LP, a private investment partnership. Constable Managing Partners II, LP serves as the general partner of Constable Partners II, LP, a private investment partnership; (ii) Constable Group, LLC; (iii) Constable Managing Partners, LP; and (iv) Constable Partners, LP. 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.

F3: 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 general partner of Constable Managing Partners, L.P. which in turn serves the general partner of Constable Partners, L.P., a private investment partnership; (ii) Constable Group, LLC; (iii) Constable Managing Partners, L.P.; and (iv) Constable Partners, L.P. 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 which serves as the general partner of Constable Managing Partners II, L.P, the entity which in turn serves as general partner of Constable Partnership II, L.P., a private investment partnership; and (ii) Constable Group, LLC. 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.