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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DgqaFGg4RfauP4luLOu9Zz015hq2tzndndnwGvqmRzr/a0OEAn3AuASczmQlDGGn
 vYDdWVU5xdkuYvjO32Mqbw==

<SEC-DOCUMENT>0001181431-04-002221.txt : 20040109
<SEC-HEADER>0001181431-04-002221.hdr.sgml : 20040109
<ACCEPTANCE-DATETIME>20040109211303
ACCESSION NUMBER:		0001181431-04-002221
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040108
FILED AS OF DATE:		20040109

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HENSLEY KATHERINE L
		CENTRAL INDEX KEY:			0001235782

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22793
		FILM NUMBER:		04519383

	MAIL ADDRESS:	
		STREET 1:		4649 MORENA BLVD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92117

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRICESMART INC
		CENTRAL INDEX KEY:			0001041803
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-VARIETY STORES [5331]
		IRS NUMBER:				330628530
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		4649 MORENA BLVD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92117
		BUSINESS PHONE:		6195814530

	MAIL ADDRESS:	
		STREET 1:		4649 MORENA BLVD
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92117
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd28609.xml
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2004-01-08</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001041803</issuerCik>
        <issuerName>PRICESMART INC</issuerName>
        <issuerTradingSymbol>PSMT</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001235782</rptOwnerCik>
            <rptOwnerName>HENSLEY KATHERINE L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>4649 MORENA BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN DIEGO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92117</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Stock option (right to buy)</value></securityTitle><conversionOrExercisePrice><value>6.24</value></conversionOrExercisePrice><transactionDate><value>2004-01-08</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>1000</value></transactionShares><transactionPricePerShare><footnoteId id="F2"/></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><value>2010-01-08</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common stock</value></underlyingSecurityTit
le><underlyingSecurityShares><value>1000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">The options vest 20% per year beginning on the first anniversary (1/8/05) of the date of grant (1/8/04).</footnote><footnote id="F2">Not applicable.</footnote></footnotes><ownerSignature><signatureName>/s/ Robert M. Gans (Attorney-in-fact)</signatureName><signatureDate>2004-01-09</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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