KIRBY CORP — Director's Dealing 2004

Sep 8, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KIRBY CORP (KEX)
CIK: 0000056047
Period of Report: 2004-09-08

Reporting Person: HOLCOMB G STEPHEN (Vice Pres-Investor Relations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-09-08	Common Stock, par value $.10 per share	M	3000	$18.3125	Acquired	8550	Direct
2004-09-07	Common Stock, par value $.10 per share	S	3000	$38.00	Disposed	5550	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-09-08	Employee Stock Option (Right to Buy)	$18.3125	M	3000	Disposed	2005-01-16	Common Stock (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10 per share	2626	Indirect

Footnotes

F1: Original option exercisable 25% after one year, 50% after two years, 75% after three years and 100% after four years from date of grant.