MERCURY GENERAL CORP — Director's Dealing 2004

Mar 4, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MERCURY GENERAL CORP (MCY)
CIK: 0000064996
Period of Report: 2004-03-03

Reporting Person: WALTERS JUDY A (Corp.Secty - Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-03	Common Stock	M	4000	$21.75	Acquired	9000	Direct
2004-03-03	Common Stock	S	3000	$51.50	Disposed	6000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-03	Common Stock	$21.75	M	4000	Disposed	2006-08-02	Common Stock (4000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	831	Indirect

Footnotes

F1: Includes ESOP allocations and dispositions since last report