INGLES MARKETS INC — Director's Dealing 2003

Dec 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INGLES MARKETS INC (IMKTA)
CIK: 0000050493
Period of Report: 2003-12-15

Reporting Person: OUTLAW J THOMAS (VP - Sales Manager)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-15	Class A Common Stock	M	1900	$9.5625	Acquired	2600	Direct
2003-12-15	Class A Common Stock	S	100	$10.13	Disposed	2500	Direct
2003-12-15	Class A Common Stock	S	200	$10.12	Disposed	2300	Direct
2003-12-15	Class A Common Stock	S	200	$10.06	Disposed	2100	Direct
2003-12-15	Class A Common Stock	S	1400	$10.05	Disposed	700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-15	Employee Stock Option (Right to Buy)	$9.5625	M	1900	Disposed	2004-05-19	Class A Common Stock (1900)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	175	Indirect