KIRBY CORP — Director's Dealing 2004

Sep 15, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KIRBY CORP (KEX)
CIK: 0000056047
Period of Report: 2004-09-13

Reporting Person: NOLEN NORMAN W (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-14	Common Stock, par value $.10 per share	M	13000	$18.0625	Acquired	27504	Direct
2004-09-13	Common Stock, par value $.10 per share	S	8600	$38.7663	Disposed	18904	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-14	Employee Stock Option (Right to Buy)	$18.0625	M	13000	Disposed	2005-02-10	Common Stock (13000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10 per share	898	Indirect

Footnotes

F1: Original option exercisable 33% after one year, 67% after two years and 100% after three years from date of grant.