-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RVD2bjYHn2Y8VtfZfrHUArZFae7fnITpD+Nq2PCu0wmt3RnCejtQ7sxfkwYy8X09
 +5zqU3+pyDgCqb2kT5/Flg==

<SEC-DOCUMENT>0001209191-03-036942.txt : 20031229
<SEC-HEADER>0001209191-03-036942.hdr.sgml : 20031225
<ACCEPTANCE-DATETIME>20031229171505
ACCESSION NUMBER:		0001209191-03-036942
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031229
FILED AS OF DATE:		20031229

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAVEN INDUSTRIES INC
		CENTRAL INDEX KEY:			0000082166
		STANDARD INDUSTRIAL CLASSIFICATION:	PRINTED CIRCUIT BOARDS [3672]
		IRS NUMBER:				460246171
		STATE OF INCORPORATION:			SD
		FISCAL YEAR END:			0131

	BUSINESS ADDRESS:	
		STREET 1:		205 E 6TH ST
		STREET 2:		PO BOX 5107
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			57117
		BUSINESS PHONE:		6053362750

	MAIL ADDRESS:	
		STREET 1:		P O BOX 5107
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			57117-5107

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			IACARELLA THOMAS
		CENTRAL INDEX KEY:			0001182947

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07982
		FILM NUMBER:		031076098

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 5107
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			571175107
		BUSINESS PHONE:		6053350100

	MAIL ADDRESS:	
		STREET 1:		P O BOX 5107
		CITY:			SIOUX FALLS
		STATE:			SD
		ZIP:			571175107
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bmn81408_bmn2ti.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-12-29</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000082166</issuerCik><issuerName>RAVEN INDUSTRIES INC</issuerName>        <issuerTradingSymbol>RAVN</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001182947</rptOwnerCik><rptOwnerName>IACARELLA THOMAS</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>PO BOX 5107</rptOwnerStreet1><rptOwnerStreet2></rptOwnerStreet2><rptOwnerCity>SIOUX FALLS</rptOwnerCity><rptOwnerState>SD</rptOwnerState><rptOwnerZipCode>57117</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Vice President &amp; CFO</officerTitle></reportingOwnerRelationship></reportingOwner><nonDe
rivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-29</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>596</value></transactionShares><transactionPricePerShare><value>4.75</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>28496</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-29</value></transactionDate><transactionCoding><transactionFormTyp
e>4</transactionFormType><transactionCode>F</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>96</value></transactionShares><transactionPricePerShare><value>29.35</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>28400</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>4.75</value></conversionOrExercisePrice><transactionDate><value>2003-12-29</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equ
itySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>596</value></transactionShares><transactionPricePerShare><value>4.75</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2000-11-29</value></exerciseDate><expirationDate><value>2004-11-29</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>7410</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6814</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction><derivativeHolding><securityTitle><value>Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>5.333</valu
e></conversionOrExercisePrice><exerciseDate><value>2001-11-14</value></exerciseDate><expirationDate><value>2005-11-14</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>10500</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>8.75</value></conversionOrExercisePrice><exerciseDate><value>2002-11-19</value></exerciseDate><expirationDate><value>2006-11-19</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>12000</valu
e></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>12000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>14.00</value></conversionOrExercisePrice><exerciseDate><value>2003-11-18</value></exerciseDate><expirationDate><value>2007-11-18</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>10000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownersh
ipNature></derivativeHolding><derivativeHolding><securityTitle><value>Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>27.00</value></conversionOrExercisePrice><exerciseDate><value>2004-11-21</value></exerciseDate><expirationDate><value>2008-11-21</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock </value></underlyingSecurityTitle><underlyingSecurityShares><value>6500</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Pursuant to Rule 16b-3(d). Right to buy.  All options are exercisable at the rate of 25% annually beginning one year after date of grant.</footnote></footnotes><ownerSignature><signatureName>/s/ Thomas Iacare
lla</signatureName><signatureDate>2003-12-29</signatureDate></ownerSignature></ownershipDocument>

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