RLI CORP — Director's Dealing 2005

Aug 24, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2005-08-23

Reporting Person: STEPHENS GERALD D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-08-23	Common Stock	J	542	—	Acquired	1006338.0971	Direct
2005-08-23	Common Stock	J	542.0192	—	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	18226.7247	Indirect
Common Stock	115259.263	Indirect
Common Stock	33836.8538	Indirect
Common Stock	3692	Indirect
Common Stock	64995.64	Indirect
Common Stock	82032.8118	Indirect
Common Stock	5530.7889	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option	$15.9063	2009-05-06	Common Stock (61400)	61400	Direct
Stock Option	$9.15	2006-05-02	Common Stock (54252)	54252	Direct
Stock Option	$13	2007-05-01	Common Stock (83002)	83002	Direct
Stock Option	$15.7813	2010-05-04	Common Stock (56000)	56000	Direct
Stock Option	$20.05	2011-05-03	Common Stock (1800)	1800	Direct
Stock Option	$21.1	2008-05-07	Common Stock (82500)	82500	Direct
Stock Option	$29.405	2012-05-01	Common Stock (1800)	1800	Direct
Stock Option	$29.55	2013-05-01	Common Stock (1800)	1800	Direct
Stock Option	$34.55	2014-05-03	Common Stock (1800)	1800	Direct
Stock Option	$40.39	2014-02-02	Common Stock (1800)	1800	Direct
Stock Option	$43.97	2015-02-01	Common Stock (1800)	1800	Direct

Footnotes

F3: Ownership reflects dividend reinvestment.

F4: Ownership reflects dividend reinvestment.

F5: Options balance adjusted to reflect 2 additional options received pursuant to the 1995 and 1998 stock splits.

F2: Ownership reflects dividend reinvestment.

F1: Shares distributed to Mr. Stephens pursuant to RLI Corp. Employee Stock Ownership Plan rules.