INGLES MARKETS INC — Director's Dealing 2003

Dec 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INGLES MARKETS INC (IMKTA)
CIK: 0000050493
Period of Report: 2003-12-26

Reporting Person: HUGHES NANCY L (Vice President - Deli)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-26	Class A Common Stock	M	4100	$9.5625	Acquired	4100	Direct
2003-12-26	Class A Common Stock	S	2300	$10.00	Disposed	1800	Direct
2003-12-26	Class A Common Stock	S	200	$10.06	Disposed	1600	Direct
2003-12-26	Class A Common Stock	S	400	$10.03	Disposed	1200	Direct
2003-12-26	Class A Common Stock	S	1000	$10.02	Disposed	200	Direct
2003-12-26	Class A Common Stock	S	200	$10.01	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-26	Employee Stock Option (Right to Buy)	$9.5625	M	4100	Disposed	2004-05-19	Class A Common Stock (4100)	Direct