NL INDUSTRIES INC — Director's Dealing 2004

May 21, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NL INDUSTRIES INC (NL)
CIK: 0000072162
Period of Report: 2004-05-20

Reporting Person: WATSON STEVEN L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-20	Common stock $0.125 par value	A	1000	—	Acquired	8000	Direct

Footnotes

F1: Shares issued for no cash consideration to nonemployee directors under the NL Industries, Inc. 1998 Long-Term Incentive Plan.