RLI CORP - Director's Dealing 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2004-05-19

Reporting Person: MICHAEL JONATHAN E (Director, President)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-05-19	Common Stock	X	6000	$8.24	Acquired	33325.2254	Direct
2004-05-19	Common Stock	J	18881	—	Acquired	52206.2254	Direct
2004-05-19	Common Stock	J	18881	—	Disposed	57818.2435	Indirect

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-05-19	Stock Option	$8.24	X	6000	Disposed	2005-05-11	Common Stock (6000)	Direct

Security	Shares	Ownership
Common Stock	30917.657	Indirect
Common Stock	13435.8763	Indirect

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$9.15	2006-05-02	Common Stock (7250)	7250	Direct
Stock Option	$13	2007-05-01	Common Stock (21000)	21000	Direct
Stock Option	$15.7813	2010-05-04	Common Stock (56000)	56000	Direct
Stock Option	$20.05	2011-05-03	Common Stock (60000)	60000	Direct
Stock Option	$21.1	2008-05-07	Common Stock (38500)	38500	Direct
Stock Option	$29.335	2012-05-02	Common Stock (60000)	60000	Direct
Stock Option	$29.55	2013-05-01	Common Stock (60000)	60000	Direct
Stock Option	$35.08	2014-05-06	Common Stock (60000)	60000	Direct
Option	$15.9063	2009-05-06	Common Stock (57800)	57800	Direct

F1: Ownership reflects dividend reinvestment.

F2: Distribution of shares under diversification provisions of Employee Stock Ownership Plan & Trust (ESOP).

F3: Ownership reflects shares allocated to ESOP participant's account and dividend reinvestment.