KIRBY CORP — Director's Dealing 2004

Aug 5, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KIRBY CORP (KEX)
CIK: 0000056047
Period of Report: 2004-08-03

Reporting Person: STRAHAN DORMAN LYNN (President - Marine Systems, In)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-04	Common Stock, par value $.10 per share	M	10000	$18.3125	Acquired	14430	Direct
2004-08-04	Common Stock, par value $.10 per share	M	2000	$18.0625	Acquired	16430	Direct
2004-08-03	Common Stock, par value $.10 per share	S	12000	$38.68	Disposed	4430	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-04	Employee Stock Option (Right to Buy)	$18.3125	M	10000	Disposed	2005-01-16	Common Stock (10000)	Direct
2004-08-04	Employee Stock Option (Right to Buy)	$18.0625	M	2000	Disposed	2005-02-10	Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10 per share	802	Indirect

Footnotes

F1: Original option of 10,000 shares exercisable 25% after one year, 50% after two years, 75% after three years and 100% after four years from date of grant.

F2: Original option exercisable 33% after one year, 67% after two years and 100% after three years from date of grant.