SEC Form 5

FORM 5		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0362 Estimated average burden hours per response: 1.0
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
	Form 3 Holdings Reported.
	Form 4 Transactions Reported.

1. Name and Address of Reporting Person* AMERICAN ASSETS INC (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol WESTCORP /CA/ [ WES ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year) 12/31/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)	4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
				Amount	(A) or (D)	Price
Common Stock							18,806,168(3)	D
Common Stock	12/04/2003		G	76,000	D	(11)	4,258,750(4)	D
Common Stock							288,432(5)	D
Common Stock							482,162(6)	D
Common Stock							3,804,551(7)	D
Common Stock							26,132(8)	D
Common Stock							27,738,622(9)	I	See footnotes(1)(2)(10)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
					(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* AMERICAN ASSETS INC (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RADY ERNEST S TRUST (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group.

1. Name and Address of Reporting Person* EVELYN SHIRLEY RADY TRUST (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group

1. Name and Address of Reporting Person* DHM TRUST (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group

1. Name and Address of Reporting Person* INSURANCE CO OF THE WEST (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group

1. Name and Address of Reporting Person* EXPLORER INSURANCE CO (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group

1. Name and Address of Reporting Person* WESTERN INSURANCE HOLDINGS INC (Last) (First) (Middle) 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director 10% Owner Officer (give title below) X Other (specify below) Joint filing group

1. Name and Address of Reporting Person* RADY ERNEST S (Last) (First) (Middle) C/O AMERICAN ASSETS, INC. 11455 EL CAMINO REAL #200 (Street) SAN DIEGO CA 92130-2045 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board and CEO

Explanation of Responses:

1. The number of Securities of the Issuer reported represents the cumulative holdings as of February 13, 2004. This group is comprised of a series of affiliated companies and trusts that are owned or controlled by Ernest S. Rady, the Chairman of teh Board of the Issuer. Schedule A, attached hereto and incorporated herein by this reference, depicts the relationship amoung the various members of the affiliated group. The percentages reported on Schedule A for each entity holding Securities of the Issuer are based on 51,697,273 shares of Common Stock outstanding as of December 4, 2003, as reported by the transfer agent. (cont. to Footnote 2)

2. There is no formal agreement to vote or dispose of the Securities of the Issuer in a particular manner. The dispositive and voting powers of each entity identified on Schedule A are made independent of the others, except to the extent that Ernest and Evelyn Rady may be trustees, shareholders, officers and/or directors of the various entities and, in that respect, are able to control the disposition and voting of the Securities of the issuer owned by each member of the affiliated group.

3. American Assets, Inc.

4. Ernest S. Rady Trust

5. Evelyn Shirley Rady Trust

6. DHM Trust

7. Insurance Company of the West

8. Explorer Insurance Co.

9. Ernest S. Rady

10. Includes 44,841 shares indirectly owned by Ernest Rady in the Westcorp Employee Stock Ownership Plan and 27,586 shares owned indirectly by Ernest Rady in the Westcorp Salary Savings (401K) Plan.

11. On December 4, 2003, the Ernest S. Rady Trust donated 76,000 shares of the Securities of the Issuer to a tax exempt charitable foundation.

Remarks:

	Ernest Rady by Guy Du Bose POA	02/13/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.