RLI CORP — Director's Dealing 2004

Oct 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2004-10-28

Reporting Person: KEANE WILLIAM R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-10-28	Common Stock	M	7500	$9.15	Acquired	44080	Direct
2004-10-28	Common Stock	M	1500	$13.95	Acquired	45580	Direct
2004-10-28	Common Stock	M	3000	$16.5938	Acquired	48580	Direct
2004-10-28	Common Stock	M	1500	$19.6	Acquired	50080	Direct
2004-10-28	Common Stock	M	3600	$22.7	Acquired	53680	Direct
2004-10-28	Common Stock	M	1200	$22.75	Acquired	54880	Direct
2004-10-28	Common Stock	M	600	$27.51	Acquired	55480	Direct
2004-10-28	Common Stock	F	7687	$38.28	Disposed	47793	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-10-28	Stock Option	$9.15	M	7500	Disposed	2006-05-02	Common Stock (7500)	Direct
2004-10-28	Stock Option	$13.95	M	1500	Disposed	2007-02-03	Common Stock (1500)	Direct
2004-10-28	Stock Option	$16.5938	M	3000	Disposed	2009-02-01	Common Stock (3000)	Direct
2004-10-28	Stock Option	$19.6	M	1500	Disposed	2008-02-02	Common Stock (1500)	Direct
2004-10-28	Stock Option	$22.7	M	3600	Disposed	2011-02-01	Common Stock (3600)	Direct
2004-10-28	Stock Option	$22.75	M	1200	Disposed	2012-02-01	Common Stock (1200)	Direct
2004-10-28	Stock Option	$27.51	M	600	Disposed	2013-02-03	Common Stock (600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28486	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$40.39	2014-02-02	Common Stock (3600)	3600	Direct