KIRBY CORP — Director's Dealing 2005

Jan 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KIRBY CORP (KEX)
CIK: 0000056047
Period of Report: 2005-01-24

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-24	Common Stock, par value $.10 per share	A	500	—	Acquired	5650	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-01-24	Employee Stock Option (Right to Buy)	$41.78	A	3500	Acquired	2010-01-24	Common Stock (3500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.10 per share	2709	Indirect

Footnotes

F1: Restricted Stock granted under the 2002 Stock and Incentive Plan for Kirby Corporation.

F2: Acquired 83 shares during 2004 pursuant to the Kirby Corporation 401(k) Plan, at prices ranging from $31.50 to $45.89. The information reported herein is based on a plan statement dated December 31, 2004.

F3: Option is exercisable 33% after one year, 67% after two years and 100% after three years from date of grant.