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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001209191-04-003115.txt : 20040115
<SEC-HEADER>0001209191-04-003115.hdr.sgml : 20040115
<ACCEPTANCE-DATETIME>20040115150002
ACCESSION NUMBER:		0001209191-04-003115
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040114
FILED AS OF DATE:		20040115

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HANKAMER HERMAN JAY
		CENTRAL INDEX KEY:			0001199816
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13003
		FILM NUMBER:		04527107

	BUSINESS ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
		BUSINESS PHONE:		2146311166

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SILVERLEAF RESORTS INC
		CENTRAL INDEX KEY:			0001033032
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531]
		IRS NUMBER:				752259890
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
		BUSINESS PHONE:		2146311166

	MAIL ADDRESS:	
		STREET 1:		1221 RIVERBEND DR
		STREET 2:		SUITE 120
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75247
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>bod11920_bod1hjh.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
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<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2004-01-14</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0001033032</issuerCik><issuerName>SILVERLEAF RESORTS INC</issuerName>        <issuerTradingSymbol>SVLF</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001199816</rptOwnerCik><rptOwnerName>HANKAMER HERMAN JAY</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>SUITE 120</rptOwnerStreet1><rptOwnerStreet2>1221 RIVER BEND DRIVE</rptOwnerStreet2><rptOwnerCity>DALLAS</rptOwnerCity><rptOwnerState>TX</rptOwnerState><rptOwnerZipCode>75247</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>V. P.-Resort Development</officerTitle></reportingOwnerRelationship></re
portingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock, .01 par value</value><footnoteId id="F1" /></securityTitle><transactionDate><value>2004-01-14</value></transactionDate><deemedExecutionDate><value>2004-01-14</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>M</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>16666</value></transactionShares><transactionPricePerShare><value>.315</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>16666</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransac
tion><securityTitle><value>Incentive Stock Option</value><footnoteId id="F1" /></securityTitle><conversionOrExercisePrice><value>.315</value></conversionOrExercisePrice><transactionDate><value>2004-01-14</value></transactionDate><deemedExecutionDate><value>2004-01-14</value></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>X</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>16666</value></transactionShares><transactionPricePerShare><value>.315</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2004-01-14</value></exerciseDate><expirationDate><value>2013-01-02</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock, $.01 Par Value</value></underlyingSecurityTitle><underlyingSecurityShares><value>50000</value></underlyingSecurityShares></underlyin
gSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>33334</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Exercise of Incentive Stock Options</footnote></footnotes><ownerSignature><signatureName>Herman Jay Hankamer</signatureName><signatureDate>2004-01-15</signatureDate></ownerSignature></ownershipDocument>

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