POWELL INDUSTRIES INC — Director's Dealing 2004

Feb 11, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: POWELL INDUSTRIES INC (POWL)
CIK: 0000080420
Period of Report: 2004-01-30

Reporting Person: SEALE STEPHEN W JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-30	Common Stock	M	5002.0000	—	Acquired	8055.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-01-30	Shadow Stock Units	$	M	216.2100	Disposed		Common Stock (216.2100)	Direct
2004-01-30	Shadow Stock Units	$	M	161.6200	Disposed		Common Stock (161.6200)	Direct
2004-01-30	Shadow Stock Units	$	M	141.5900	Disposed		Common Stock (141.5900)	Direct
2004-01-30	Shadow Stock Units	$	M	150.9400	Disposed		Common Stock (150.9400)	Direct
2004-01-30	Shadow Stock Units	$	M	67.8000	Disposed		Common Stock (67.8000)	Direct
2004-01-30	Shadow Stock Units	$	M	123.0800	Disposed		Common Stock (123.0800)	Direct
2004-01-30	Shadow Stock Units	$	M	136.7500	Disposed		Common Stock (136.7500)	Direct
2004-01-30	Shadow Stock Units	$	M	63.4900	Disposed		Common Stock (63.4900)	Direct
2004-01-30	Shadow Stock Units	$	M	128.0000	Disposed		Common Stock (128.0000)	Direct
2004-01-30	Shadow Stock Units	$	M	117.6500	Disposed		Common Stock (117.6500)	Direct
2004-01-30	Shadow Stock Units	$	M	262.3000	Disposed		Common Stock (117.6500)	Direct
2004-01-30	Shadow Stock Units	$	M	80.8100	Disposed		Common Stock (80.8100)	Direct
2004-01-30	Shadow Stock Units	$	M	166.6700	Disposed		Common Stock (166.6700)	Direct
2004-01-30	Shadow Stock Units	$	M	186.0500	Disposed		Common Stock (186.0500)	Direct
2004-01-30	Shadow Stock Units	$	M	50.2600	Disposed		Common Stock (50.2600)	Direct
2004-01-30	Shadow Stock Units	$	M	156.8600	Disposed		Common Stock (156.8600)	Direct
2004-01-30	Shadow Stock Units	$	M	160.0000	Disposed		Common Stock (160.0000)	Direct
2004-01-30	Shadow Stock Units	$	M	49.4800	Disposed		Common Stock (49.4800)	Direct
2004-01-30	Shadow Stock Units	$	M	56.4700	Disposed		Common Stock (56.4700)	Direct
2004-01-30	Shadow Stock Units	$	M	76.1900	Disposed		Common Stock (76.1900)	Direct
2004-01-30	Shadow Stock Units	$	M	516.1200	Disposed		Common Stock (516.1200)	Direct
2004-01-30	Shadow Stock Units	$	M	345.9400	Disposed		Common Stock (345.9400)	Direct
2004-01-30	Shadow Stock Units	$	M	203.8100	Disposed		Common Stock (203.8100)	Direct
2004-01-30	Shadow Stock Units	$	M	59.2600	Disposed		Common Stock (59.2600)	Direct
2004-01-30	Shadow Stock Units	$	M	173.9100	Disposed		Common Stock (173.9100)	Direct
2004-01-30	Shadow Stock Units	$	M	288.8900	Disposed		Common Stock (288.8900)	Direct
2004-01-30	Shadow Stock Units	$	M	226.9400	Disposed		Common Stock (226.9400)	Direct
2004-01-30	Shadow Stock Units	$	M	273.6900	Disposed		Common Stock (273.6900)	Direct
2004-01-30	Shadow Stock Units	$	M	62.3400	Disposed		Common Stock (62.3400)	Direct
2004-01-30	Shadow Stock Units	$	M	299.2600	Disposed		Common Stock (299.2600)	Direct

Footnotes

F1: Shadow Stock Units were granted in payment of director's fees at the fair market value of the Common Stock on the date of the grant of the Shadow Stock Units. Shadow Stock Units automatically convert without further payment to shares of Common Stock at the expiration of the deferral period. Fractional shares are not issued.

F2: Various: Upon retirement from the Board of Directors or specified deferral term.