INTERGROUP CORP — Director's Dealing 2004

Jul 15, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: SANTA FE FINANCIAL CORP (SFEF)
CIK: 0000086759
Period of Report: 2004-06-30

Reporting Person: INTERGROUP CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-30	Common Stock	P	9200	$11.82	Acquired	821196	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: Converts to Common Stock on a one-for-one basis.