STEPAN CO — Director's Dealing 2004

Feb 19, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: STEPAN CO (SCL)
CIK: 0000094049
Period of Report: 2004-02-18

Reporting Person: VENEGONI JOHN V (VP/GM Surfactants)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-02-18	Management Incentive Plan	$	J	330.052	Acquired	1988-08-08	Common Stock (330.052)	Direct

Footnotes

F1: Management Incentive Plan ("Plan"), (a 16b-3 plan) approved April 28, 1992, by shareholders to permit option of taking balances in cash or company stock upon termination, death or retirement pursuant to Plan provisions.