VALHI INC /DE/ — Director's Dealing 2003

May 20, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALHI INC /DE/ (VHI)
CIK: 0000059255
Period of Report: 2003-05-15

Reporting Person: SIMMONS HAROLD C (Director, Chairman of the Board, 10% Owner)

Footnotes

F1: Open market purchase by Contran Corporation. See additional information filed as an exhibit to this statement for a description of the relationship of Contran Corporation to the reporting person.

F2: Directly held by Contran Corporation. See additional information filed as an exhibit to this statement for additional shares that may be deemed to be beneficially owned, directly or indirectly, by the reporting person and for a description of the relationship of Contran Corporation to the reporting person.