FRIEDMAN INDUSTRIES INC — Director's Dealing 2005

Feb 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FRIEDMAN INDUSTRIES INC (FRD)
CIK: 0000039092
Period of Report: 2005-02-22

Reporting Person: THOMPSON THOMAS N (Senior VP - Sales & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-22	Common Stock	S	61966	$9.75	Disposed	12903	Direct
2005-02-23	Common Stock	S	12903	$9.23	Disposed	0	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option to purchase	$3.13	2006-04-12	Common Stock (2894)	2894	Direct

Footnotes

F1: Previously reported - for memo purposes only.