ESCALADE INC — Director's Dealing 2004

Jan 7, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESCALADE INC (ESCA)
CIK: 0000033488
Period of Report: 2004-01-06

Reporting Person: REED C W BILL (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-06	Common Stock	F	3709	$33.96	Disposed	343301	Direct
2004-01-06	Common Stock	M	20000	$5.9	Acquired	363301	Direct
2004-01-06	Common Stock	M	1054	$7.59	Acquired	364355	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-06	Stock Option Plan	$5.9	M	20000	Disposed	2004-03-15	Common Stock (20000)	Direct
2004-01-06	Stock Option Plan	$7.59	M	1054	Disposed	2006-04-28	Common Stock (1054)	Direct

Footnotes

F1: Shares tendered to Escalade, Inc. in connection with the exercise of Stock Options.

F2: Exercised option to purchase shares under the Incentive Stock Option Plan.

F3: Exercised option to purchase shares under the Directors Stock Option Plan.

F4: Outstanding options range between $4.83 and $18.06 per share.