INGLES MARKETS INC — Director's Dealing 2004

Feb 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-02	Class A Common Stock	M	5095	$9.5625	Acquired	5795	Direct
2004-02-02	Class A Common Stock	S	1000	$10.49	Disposed	4795	Direct
2004-02-02	Class A Common Stock	S	3500	$10.50	Disposed	1295	Direct
2004-02-02	Class A Common Stock	S	95	$10.62	Disposed	1200	Direct
2004-02-02	Class A Common Stock	S	500	$10.64	Disposed	700	Direct
2004-02-03	Class A Common Stock	M	25029	$9.5625	Acquired	25729	Direct
2004-02-03	Class A Common Stock	S	754	$10.73	Disposed	24975	Direct
2004-02-03	Class A Common Stock	S	2699	$10.71	Disposed	22276	Direct
2004-02-03	Class A Common Stock	S	900	$10.57	Disposed	21376	Direct
2004-02-03	Class A Common Stock	S	1000	$10.56	Disposed	20376	Direct
2004-02-03	Class A Common Stock	S	276	$10.59	Disposed	20100	Direct
2004-02-03	Class A Common Stock	S	1400	$10.58	Disposed	18700	Direct
2004-02-03	Class A Common Stock	S	2000	$10.65	Disposed	16700	Direct
2004-02-03	Class A Common Stock	S	12000	$10.64	Disposed	4700	Direct
2004-02-03	Class A Common Stock	S	4000	$10.60	Disposed	700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-02	Employee Stock Option (Right to Buy)	$9.5625	M	5095	Disposed	2004-05-19	Class A Common Stock (5095)	Direct
2004-02-03	Employee Stock Option (Right to Buy)	$9.5625	M	25029	Disposed	2004-05-19	Class A Common Stock (25029)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	175	Indirect