VALHI INC /DE/ — Director's Dealing 2006

Jul 14, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VALHI INC /DE/ (VHI)
CIK: 0000059255
Period of Report: 2006-07-10

Reporting Person: EDELCUP NORMAN S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-07-10	Common stock, $0.01 par value per share	M	2000	$11.06	Acquired	29500	Direct
2006-07-10	Common stock, $0.01 par value per share	M	1000	$12.06	Acquired	30500	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-07-10	Non-Qualified Stock Option (right to buy)	$11.06	M	2000	Disposed	2010-02-18	Common stock, $0.01 par value per share (2000)	Direct
2006-07-10	Non-Qualified Stock Option (right to buy)	$12.06	M	1000	Disposed	2005-02-11	Common stock, $0.01 par value per share (1000)	Direct

Footnotes

F1: Stock option granted under the Valhi, Inc. 1997 Long-Term Incentive Plan.