INGLES MARKETS INC — Director's Dealing 2004

Jan 28, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INGLES MARKETS INC (IMKTA)
CIK: 0000050493
Period of Report: 2004-01-27

Reporting Person: FEDERICO ANTHONY S (Vice President -- Non Foods)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-27	Class A Common Stock	M	15103	$9.5625	Acquired	99464	Direct
2004-01-27	Class A Common Stock	S	800	$11.23	Disposed	98664	Direct
2004-01-27	Class A Common Stock	S	100	$11.18	Disposed	98564	Direct
2004-01-27	Class A Common Stock	S	800	$11.16	Disposed	97764	Direct
2004-01-27	Class A Common Stock	S	800	$11.13	Disposed	96964	Direct
2004-01-27	Class A Common Stock	S	500	$11.12	Disposed	96464	Direct
2004-01-27	Class A Common Stock	S	5000	$11.10	Disposed	91464	Direct
2004-01-27	Class A Common Stock	S	700	$11.00	Disposed	90764	Direct
2004-01-27	Class A Common Stock	S	9985	$10.93	Disposed	80779	Direct
2004-01-27	Class A Common Stock	S	5154	$10.97	Disposed	75625	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-27	Class A Common Stock	$9.5625	M	15103	Disposed	2004-05-19	Class A Common Stock (15103)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	7647	Indirect