-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IR/GpI04ggpL3jDroBU/siGDuZtSCHWyBExTSOmmIIoGsfTP3GQhWK2Q/iCTfQZd
 HMpwRgdj04ASl9roz+HSFQ==

<SEC-DOCUMENT>0001209191-05-045881.txt : 20050902
<SEC-HEADER>0001209191-05-045881.hdr.sgml : 20050902
<ACCEPTANCE-DATETIME>20050902204010
ACCESSION NUMBER:		0001209191-05-045881
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050831
FILED AS OF DATE:		20050902
DATE AS OF CHANGE:		20050902

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LUBYS INC
		CENTRAL INDEX KEY:			0000016099
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				741335253
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		13111 NORTHWEST FREEWAY
		STREET 2:		SUITE 600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040
		BUSINESS PHONE:		(713) 329 6800

	MAIL ADDRESS:	
		STREET 1:		13111 NORTHWEST FREEWAY
		STREET 2:		SUITE 600
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77040

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LUBYS CAFETERIAS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CAFETERIAS INC
		DATE OF NAME CHANGE:	19810126

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PAPPAS CHRISTOPHER JAMES
		CENTRAL INDEX KEY:			0001130636

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08308
		FILM NUMBER:		051068944

	BUSINESS ADDRESS:	
		STREET 1:		642 YALE
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77007
		BUSINESS PHONE:		7138690151
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>h28593_1cjp.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-08-31</periodOfReport>

    <issuer>
        <issuerCik>0000016099</issuerCik>
        <issuerName>LUBYS INC</issuerName>
        <issuerTradingSymbol>LUB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001130636</rptOwnerCik>
            <rptOwnerName>PAPPAS CHRISTOPHER JAMES</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>13111 NW FREEWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77040</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2005-08-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1612903</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>3.10</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2284803</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Convertible subordinated promissory note due 2011</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.10</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-08-31</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>5000000</value>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>5000000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2002-08-08</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-02-25</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1612903</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Employee Stock Option (Right to Buy)</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-03-09</value>
            </exerciseDate>
            <expirationDate>
                <value>2011-03-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1120000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1120000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person purchased $5,000,000 in aggregate principal amount of convertible subordinated promissory notes in 2001 for the face amount of such notes. The reporting person converted $5,000,000 in aggregate principal amount of convertible subordinated promissory notes on August 31, 2005, at a conversion price of $3.10 per share, resulting in his acquisition of 1,612,903 shares of common stock. No cash consideration was paid or received by the reporting person as a result of such conversion.</footnote>
        <footnote id="F2">These employee stock options were granted on March 9, 2001 and became fully vested on March 9, 2004. This option grant was previously reported.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Christopher J. Pappas</signatureName>
        <signatureDate>2005-09-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----