CITIZENS, INC. - Director's Dealing 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CITIZENS INC (CIA)
CIK: 0000024090
Period of Report: 2003-12-31

Reporting Person: RILEY RAY A (VP, Chief Operations Officer)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-04-01	Class A Common Stock	G	19528.0000	—	Acquired	236098.0000	Direct
2003-12-31	Class A Common Stock	J	16482.0000	—	Acquired	252580.0000	Direct
2003-12-31	Class A Common Stock	J	709.0000	—	Acquired	253289.0000	Direct
2003-12-31	Class A Common Stock	J	91.0000	—	Acquired	253380.0000	Direct
2003-04-01	Class A Common Stock	G	3780.0000	—	Acquired	19104.0000	Indirect
2003-12-31	Class A Common Stock	J	1701.0000	—	Acquired	20805.0000	Indirect
2003-02-25	Class A Common Stock	G	3380.0000	—	Acquired	126022.0000	Indirect
2003-04-01	Class A Common Stock	G	7560.0000	—	Acquired	133582.0000	Indirect
2003-12-31	Class A Common Stock	J	9354.0000	—	Acquired	142936.0000	Indirect

F1: These shares were received through a stock dividend on December 31, 2003.

F2: These shares were purchased through a Stock Investment Plan

F3: These shares were received through a stock dividend on December 31, 2003 on Ray Riley's Stock Investment Account.

F4: These shares were received through a stock dividend on December 31, 2003.