RLI CORP — Director's Dealing 2004

Feb 3, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2004-02-02

Reporting Person: BLUM RICHARD H (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-02	Stock Option	$40.39	A	3600	Acquired	2014-02-02	Common Stock (3600)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4178.24	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$20.75	2010-11-15	Common Stock (6000)	6000	Direct
Stock Option	$22.7	2011-02-01	Common Stock (464)	464	Direct
Stock Option	$22.75	2012-02-01	Common Stock (1800)	1800	Direct
Stock Option	$27.51	2013-02-03	Common Stock (1800)	1800	Direct

Footnotes

F1: Ownership reflects dividend reinvestment.