RLI CORP — Director's Dealing 2008

May 2, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RLI CORP (RLI)
CIK: 0000084246
Period of Report: 2008-05-01

Reporting Person: FICK JEFFREY D (Vice President Human Resources)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-01	Stock Option	$50	A	9000	Acquired	2018-05-01	Common Stock (9000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6584.43	Direct
Common Stock	1017.29	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$49.5	2015-10-19	Common Stock (4000)	4000	Direct
Stock Option	$50.15	2016-05-04	Common Stock (7000)	7000	Direct
Stock Option	$56.09	2017-05-03	Common Stock (8000)	8000	Direct

Footnotes

F1: Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing one year from grant date and each year thereafter in 20% increments.

F2: Pursuant to option schedule wherein 20% of the aggregate number of shares granted may be exercised commencing
one year from grant date and each year thereafter in 20% increments.