MERCURY GENERAL CORP — Director's Dealing 2006

May 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MERCURY GENERAL CORP (MCY)
CIK: 0000064996
Period of Report: 2006-05-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-05-17	Common Stock	M	4500	$21.75	Acquired	10400	Direct
2006-05-17	Common Stock	S	3500	$58.5057	Disposed	6900	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-17	Common Stock	$21.75	M	4500	Disposed	2006-08-02	Common Stock (4500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	919	Indirect