Sec Form 4 Filing - CARAMEROS CHRISTOPHER L @ HELEN OF TROY LTD - 2004-01-21

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person CARAMEROS CHRISTOPHER L 2. Issuer Name and Ticker or Trading Symbol HELEN OF TROY LTD [ HELE] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Executive Vice President (Last) (First) (Middle) 1 HELEN OF TROY PLAZA 3. Date of Earliest Transaction (MM/DD/YY) 01/21/2004 (Street) EL PASO, TX79912 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 01/21/2004 M 20,000 A $ 15.9375 21,839.53 D Common Stock 01/21/2004 M 4,000 A $ 16.4063 25,839.53 D Common Stock 01/21/2004 M 4,000 A $ 17.625 29,839.53 D Common Stock 01/21/2004 M 4,000 A $ 14.4688 33,839.53 D Common Stock 01/21/2004 M 4,000 A $ 6.4063 37,839.53 D Common Stock 01/21/2004 M 4,000 A $ 9.17 41,839.53 D Common Stock 01/21/2004 M 4,000 A $ 12.53 45,839.53 D Common Stock 01/21/2004 M 4,000 A $ 10.745 49,839.53 D Common Stock 01/21/2004 M 4,000 A $ 12.63 53,839.53 D Common Stock 01/21/2004 M 4,000 A $ 13.03 57,839.53 D Common Stock 01/21/2004 M 4,000 A $ 11.84 61,839.53 D Common Stock 01/21/2004 M 4,000 A $ 10.08 65,839.53 D Common Stock 01/21/2004 M 7,707 A $ 12.975 73,546.53 D Common Stock 01/21/2004 M 7,707 A $ 12.975 81,253.53 D Common Stock 01/21/2004 M 7,707 A $ 12.975 88,960.53 D Common Stock 01/21/2004 M 7,707 A $ 12.975 96,667.53 D Common Stock 01/21/2004 M 67,293 A $ 12.975 163,960.53 D Common Stock 01/21/2004 M 67,293 A $ 12.975 231,253.53 D Common Stock 01/22/2004 S 128,600 D $ 26.9697 102,653.53 D Common Stock 01/22/2004 S 69,600 D $ 26.94 33,053.53 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Non-Employee Director Stock Option (right to buy) $ 15.9375 01/21/2004 M 20,000 08/26/1998 08/26/2007 Common Stock 20,000 $ 15.9375 344,000 D Non-Employee Director Stock Option (right to buy) $ 16.4063 01/21/2004 M 4,000 09/02/1998 09/02/2007 Common Stock 4,000 $ 16.4063 340,000 D Non-Employee Director Stock Option (right to buy) $ 17.625 01/21/2004 M 4,000 09/01/1999 09/01/2008 Common Stock 4,000 $ 17.625 336,000 D Non-Employee Director Stock Option (right to buy) $ 14.4688 01/21/2004 M 4,000 09/01/2000 09/01/2009 Common Stock 4,000 $ 14.4688 332,000 D Non-Employee Director Stock Option (right to buy) $ 6.4063 01/21/2004 M 4,000 03/01/2002 03/01/2011 Common Stock 4,000 $ 6.4063 328,000 D Non-Employee Director Stock Option (right to buy) $ 9.17 01/21/2004 M 4,000 06/01/2002 06/01/2011 Common Stock 4,000 $ 9.17 324,000 D Non-Employee Director Stock Option (right to buy) $ 12.53 01/21/2004 M 4,000 09/01/2002 09/01/2011 Common Stock 4,000 $ 12.53 320,000 D Non-Employee Director Stock Option (right to buy) $ 10.745 01/21/2004 M 4,000 12/01/2002 12/01/2011 Common Stock 4,000 $ 10.745 316,000 D Non-Employee Director Stock Option (right to buy) $ 12.63 01/21/2004 M 4,000 03/01/2003 03/01/2012 Common Stock 4,000 $ 12.63 312,000 D Non-Employee Director Stock Option (right to buy) $ 13.03 01/21/2004 M 4,000 06/01/2003 06/01/2012 Common Stock 4,000 $ 13.03 308,000 D Non-Employee Director Stock Option (right to buy) $ 11.84 01/21/2004 M 4,000 09/01/2003 09/01/2012 Common Stock 4,000 $ 11.84 304,000 D Non-Employee Director Stock Option (right to buy) $ 10.08 01/21/2004 M 4,000 12/01/2003 12/01/2012 Common Stock 4,000 $ 10.08 300,000 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 7,707 09/03/2003 03/25/2013 Common Stock 7,707 $ 12.975 292,293 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 7,707 09/03/2003 03/25/2013 Common Stock 7,707 $ 12.975 284,586 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 7,707 09/03/2003 03/25/2013 Common Stock 7,707 $ 12.975 276,879 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 7,707 09/03/2003 03/25/2013 Common Stock 7,707 $ 12.975 269,172 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 67,293 09/03/2003 03/25/2013 Common Stock 67,293 $ 12.975 201,879 D Employee Stock Option (right to buy) $ 12.975 01/21/2004 M 67,293 09/03/2003 03/25/2013 Common Stock 67,293 $ 12.975 134,586 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other CARAMEROS CHRISTOPHER L 1 HELEN OF TROY PLAZA EL PASO, TX79912 X Executive Vice President Signatures Vincent D. Carson as Attorney-In-Fact for Christopher L. Carameros 01/23/2004 Signature of Reporting Person Date

Explanation of Responses:
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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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