VALHI INC /DE/ — Director's Dealing 2004

Jul 14, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALHI INC /DE/ (VHI)
CIK: 0000059255
Period of Report: 2004-07-09

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-07-09	Common stock, $0.01 par value per share	P	5400	$11.61	Acquired	3792700	Direct
2004-07-09	Common stock, $0.01 par value per share	P	9600	$11.75	Acquired	3802300	Direct
2004-07-09	Common stock, $0.01 par value per share	P	800	$11.74	Acquired	3803100	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock, $0.01 par value per share	92739554	Indirect
Common stock, $0.01 par value per share	10891009	Indirect
Common stock, $0.01 par value per share	439400	Indirect

Footnotes

F1: Directly held by Valhi Group, Inc. See the Additional Information filed as an exhibit to this statement for a description of
the relationships among the persons joining in this filing.

F2: Directly held by National City Lines, Inc. See the Additional Information filed as an exhibit to this statement for a
description of the relationships among the persons joining in this filing.

F3: Directly held by Contran Deferred Compensation Trust No. 2. See the Additional Information filed as an exhibit to this
statement for a description of the relationships among the persons joining in this filing.