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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,
 NKP7pE+87GmDVeywdTzmrC4y7ZzZabqeLlCkwmoVnUudft1gbIAbWk8zuyXDYUyE
 5liRx3iUCHhgcMw7QPBB+Q==

<SEC-DOCUMENT>0001181431-03-025698.txt : 20031003
<SEC-HEADER>0001181431-03-025698.hdr.sgml : 20031003
<ACCEPTANCE-DATETIME>20031003143936
ACCESSION NUMBER:		0001181431-03-025698
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031001
FILED AS OF DATE:		20031003

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHULTZ ALAN F
		CENTRAL INDEX KEY:			0001222494

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10991
		FILM NUMBER:		03927550

	BUSINESS ADDRESS:	
		STREET 1:		VALASSIS COMMUNICATIONS INC
		STREET 2:		19975 VICTOR PARKWAY
		CITY:			LIVONIA
		STATE:			MI
		ZIP:			48152
		BUSINESS PHONE:		7345917320

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALASSIS COMMUNICATIONS INC
		CENTRAL INDEX KEY:			0000883293
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				382760940
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		19975 VICTOR PARKWAY
		CITY:			LIVONIA
		STATE:			MI
		ZIP:			48152
		BUSINESS PHONE:		3135913000

	MAIL ADDRESS:	
		STREET 1:		19975 VICTOR PARKWAY
		CITY:			LIVONIA
		STATE:			MI
		ZIP:			48152
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd19900.xml
<DESCRIPTION>10-01-03 SCHULTZ OPTIONS
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-10-01</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000883293</issuerCik>
        <issuerName>VALASSIS COMMUNICATIONS INC</issuerName>
        <issuerTradingSymbol>VCI</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001222494</rptOwnerCik>
            <rptOwnerName>SCHULTZ ALAN F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>VALASSIS COMMUNICATIONS, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>19975 VICTOR PARKWAY</rptOwnerStreet2>
            <rptOwnerCity>LIVONIA</rptOwnerCity>
            <rptOwnerState>MI</rptOwnerState>
            <rptOwnerZipCode>48152</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>President &amp; CEO</officerTitle></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Employee Stock Option (Right To Buy)</value></securityTitle><conversionOrExercisePrice><value>26.90</value></conversionOrExercisePrice><transactionDate><value>2003-10-01</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>135000</value></transactionShares><transactionPricePerShare><value>26.90</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><value>2010-10-01</value></expirationDate><underlyingSecurity><underlyingSecur
ityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>135000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>135000</value><footnoteId id="F2"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">This option becomes exercisable in increments of 33.3333%, 33.3333% and 33.3334% at such time that the closing sales price per common share is equal to or exceeds $31.90, $36.90 and $41.90, respectively; provided that such market price targets are achieved by October 1, 2006.  In any event, however, the option vests by 10/01/08.</footnote><footnote id="F2">Represents number of derivative securities beneficially owned as of October 1, 2003.</footnote></footnotes><ownerSignature><signatureName>Steven M. Mitzel, by Power of Atto
rney</signatureName><signatureDate>2003-10-03</signatureDate></ownerSignature></ownershipDocument>



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