VALHI INC /DE/ — Director's Dealing 2004

Jul 9, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALHI INC /DE/ (VHI)
CIK: 0000059255
Period of Report: 2004-07-06

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-07-06	Common stock, $0.01 par value per share	P	500	$11.11	Acquired	3739200	Direct
2004-07-06	Common stock, $0.01 par value per share	P	100	$11.13	Acquired	3739300	Direct
2004-07-06	Common stock, $0.01 par value per share	P	400	$11.14	Acquired	3739700	Direct
2004-07-06	Common stock, $0.01 par value per share	P	500	$11.15	Acquired	3740200	Direct
2004-07-06	Common stock, $0.01 par value per share	P	1500	$11.20	Acquired	3741700	Direct
2004-07-06	Common stock, $0.01 par value per share	P	20600	$11.25	Acquired	3762300	Direct
2004-07-07	Common stock, $0.01 par value per share	P	2800	$11.36	Acquired	3765100	Direct
2004-07-07	Common stock, $0.01 par value per share	P	4200	$11.4	Acquired	3769300	Direct
2004-07-07	Common stock, $0.01 par value per share	P	3000	$11.5	Acquired	3772300	Direct
2004-07-08	Common stock, $0.01 par value per share	P	1600	$11.44	Acquired	3773900	Direct
2004-07-08	Common stock, $0.01 par value per share	P	13400	$11.5	Acquired	3787300	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.