RLI CORP — Director's Dealing 2004

Dec 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2004-12-20

Reporting Person: BAILY JOHN THOMAS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-24	Common Stock	J	1000	—	Disposed	397.401	Direct
2004-12-21	Common Stock	A	367	$40.8	Acquired	764.401	Direct
2004-12-20	Common Stock	J	397.5925	$40.3218	Acquired	1465.5038	Indirect
2004-11-24	Common Stock	J	1000	—	Acquired	2000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$32.95	2013-08-28	Common Stock (3000)	3000	Direct
Stock Option	$40.39	2014-02-02	Common Stock (1233)	1233	Direct

Footnotes

F1: Shares were erroneously posted to Mr. Baily's direct account; should have been posted to Wife's account.

F4: Ownership reflects dividend reinvestment.

F2: Issued pursuant to the RLI Corp. Nonemployee Directors' Stock Plan

F3: The securities herein were allocated to my account pursuant to the RLI Corp. Directors' Irrevocable Trust Agreement.