RLI CORP — Director's Dealing 2003

Jul 31, 2003

SEC Form 4/A — Form 4/A

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2003-06-20

Reporting Person: MCPHEETERS F LYNN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-06-20	Common Stock	J	259.8279	$31.8962	Acquired	4703.1851	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$19.125	2010-08-24	Common Stock ()	6000	Direct
Stock Option	$22.7	2011-02-01	Common Stock ()	1282	Direct
Stock Option	$22.75	2012-02-01	Common Stock ()	1800	Direct
Stock Option	$27.51	2013-02-03	Common Stock ()	1800	Direct

Footnotes

F1: The securities herein were allocated to my account pursuant to the RLI Corp. Directors' Irrevocable Trust Agreement.

F2: This amended Form 4 is being filed to reflect F. Lynn McPheeters' current holdings. Form 4 filed on June 23, 2003 only reflected the transaction being reported. All other holdings were not reflected due to a technical software problem.

F3: The Options are exercisable 1/3 annually commencing one year from grant date.