INGLES MARKETS INC — Director's Dealing 2004

Feb 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INGLES MARKETS INC (IMKTA)
CIK: 0000050493
Period of Report: 2004-02-11

Reporting Person: GAITHER CHARLES L JR (Director, President, Milkco Inc.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-11	Class A Common Stock	M	2500	$9.5625	Acquired	4733	Direct
2004-02-11	Class A Common Stock	S	700	$10.961	Disposed	4033	Direct
2004-02-11	Class A Common Stock	S	848	$10.96	Disposed	3185	Direct
2004-02-11	Class A Common Stock	S	400	$10.955	Disposed	2785	Direct
2004-02-11	Class A Common Stock	S	552	$10.95	Disposed	2233	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-11	Employee Stock Option (Right to Buy)	$9.5625	M	2500	Disposed	2004-05-19	Class A Common Stock (2500)	Direct