-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QOOAmi3xxgBmxHoSvREZpC+tqnYFCnCnXXGaDFteQUwkxCPIXB9U0aD7YAD1/WLF
 oVqDC3l2CpCTSuEinx4yXA==

<SEC-DOCUMENT>0001144204-04-022696.txt : 20041223
<SEC-HEADER>0001144204-04-022696.hdr.sgml : 20041223
<ACCEPTANCE-DATETIME>20041223182246
ACCESSION NUMBER:		0001144204-04-022696
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040617
FILED AS OF DATE:		20041223
DATE AS OF CHANGE:		20041223

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DURHAM TIMOTHY S
		CENTRAL INDEX KEY:			0001131157

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15284
		FILM NUMBER:		041225350

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		3172374122

	MAIL ADDRESS:	
		STREET 1:		111 MONUMENT CIRCLE
		STREET 2:		SUITE 3680
		CITY:			INDIANAPOLIS
		STATE:			IN
		ZIP:			46204

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NATIONAL LAMPOON INC
		CENTRAL INDEX KEY:			0000798078
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
		IRS NUMBER:				954053296
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0731

	BUSINESS ADDRESS:	
		STREET 1:		10850 WILSHIRE BLVD STE 1000
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024
		BUSINESS PHONE:		3104745252

	MAIL ADDRESS:	
		STREET 1:		10850 WILSHIRE BLVD
		STREET 2:		SUITE 1000
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	J2 COMMUNICATIONS /CA/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	J2 TELECOMMUNICATIONS
		DATE OF NAME CHANGE:	19890731

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	J2 COMMUNICATIONS
		DATE OF NAME CHANGE:	19880308
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v010327_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-06-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000798078</issuerCik>
        <issuerName>NATIONAL LAMPOON INC</issuerName>
        <issuerTradingSymbol>NLPN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001131157</rptOwnerCik>
            <rptOwnerName>DURHAM TIMOTHY S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10850 WILSHIRE BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1000</rptOwnerStreet2>
            <rptOwnerCity>LOS ANGELES</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90024</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Director Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.60</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-06-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-06-17</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-06-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>15000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>15000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Series C Convertible Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-10-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>28169</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-10-25</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>563380</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28169</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Warrant for Common Shares</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.775</value>
                <footnoteId id="F2"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-10-25</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>28169</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2004-10-25</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>281690</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28169</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vested with respect to all shares on the date of grant. Mr. Durham's grant was for 7,500 shares of common stock
at an exercise price of $3.20 per share. As a result of the Company's two for one stock split on September 15, 2004, the
number of shares underlying the grant was doubled to 15,000 and the exercise price was halved to $1.60.</footnote>
        <footnote id="F2">On October 25, 2004, the Reporting Person converted $1,000,000 of loans he had made to the Issuer into 28,169 shares of
Series C Convertible Preferred Stock. Each share of Series C Convertible Preferred Stock is convertible into 20 shares of
common stock, and one warrant to purchase 10 shares of commmon stock at $1.775 per share.</footnote>
        <footnote id="F3">N/A</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Timothy S. Durham</signatureName>
        <signatureDate>2004-12-22</signatureDate>
    </ownerSignature>
</ownershipDocument>

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