INTERGROUP CORP — Director's Dealing 2003

Nov 3, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SANTA FE FINANCIAL CORP (SFEF)
CIK: 0000086759
Period of Report: 2003-10-31

Reporting Person: INTERGROUP CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-31	Common Stock, $.10 par value	P	57700	$12.9973	Acquired	798496	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Convertible Voting Preferred Stock	$0	2005-12-31	Common Stock (63600)	63600	Direct

Footnotes

F1: 1. Converts to Common Stock on a one-for-one basis.