NATIONAL BEVERAGE CORP — Director's Dealing 2004

Mar 30, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NATIONAL BEVERAGE CORP (FIZ)
CIK: 0000069891
Period of Report: 2004-03-26

Reporting Person: CAPORELLA JOSEPH G (Director, President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-26	Common Stock	M	120000	$1.0468	Acquired	133000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-26	Option (right to buy)	$1.0468	M	120000	Disposed	2004-08-18	Common Stock (120000)	Direct

Footnotes

F1: The reporting person elected to defer receipt of the shares of common stock issuable upon exercise of his options.

F2: Includes 6,500 shares acquired in connection with a 100% stock dividend on March 22, 2004.