KIRBY CORP — Director's Dealing 2004

Jan 8, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KIRBY CORP (KEX)
CIK: 0000056047
Period of Report: 2003-12-10

Reporting Person: STONE ROBERT G JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-10	Common Stock, par value $.10 per share	G	10000	—	Disposed	102550	Direct
2003-12-10	Common Stock, par value $.10 per share	G	10000	—	Acquired	33500	Indirect
2004-01-07	Common Stock, par value $.10 per share	F	1852	$34.37	Disposed	100698	Direct
2004-01-07	Common Stock, par value $.10 per share	M	1500	$21.375	Acquired	102198	Direct
2004-01-07	Common Stock, par value $.10 per share	M	1500	$21.0625	Acquired	103698	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-07	Director Stock Option (Right to Buy)	$21.375	M	1500	Disposed	2004-01-18	Common Stock (1500)	Direct
2004-01-07	Director Stock Option (Right to Buy)	$21.0625	M	1500	Disposed	2004-04-20	Common Stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10 per share	10000	Indirect

Footnotes

F1: Bona fide gift for no consideration of any kind.

F2: Shares held by Arcadia Charitable Trust dated 5/7/97; Robert G. Stone, Jr., Trustee. (T300)

F3: Previously reported 10,450 Indirect shares held by Catherine S. Osier Trust dated 10/18/99; Robert G. Stone, Jr., is no longer a Trustee. (A320A)

F4: Shares held directly by spouse, Marion R. Stone. (A303)