SEC Form 4

FORM 4		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 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* ORTENZIO ROCCO A (Last) (First) (Middle) 4716 OLD GETTYSBURG ROAD P.O. BOX 2034 (Street) MECHANICSBURG PA 17055 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol SELECT MEDICAL CORP [ SEM ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Executive Chairman
	3. Date of Earliest Transaction (Month/Day/Year) 08/03/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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, par value $.01 per share	08/03/2004		M		222,000(1)	A	$5.88(1)	4,803,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		21,000	D	$14.5	4,782,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		1,000	D	$14.51	4,781,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		26,500	D	$14.55	4,754,772	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		7,500	D	$14.6	4,747,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		500	D	$14.61	4,746,772	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		500	D	$14.65	4,746,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		25,000	D	$14.75	4,721,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		90,000	D	$15	4,631,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		25,000	D	$15.25	4,606,272	D
Common Stock, par value $.01 per share	08/03/2004		S(2)		25,000	D	$15.69	4,581,272	D
Common Stock, par value $.01 per share								866(3)	I	By Select Investments I
Common Stock, par value $.01 per share								27,480(4)	I	By Select Capital Corporation
Common Stock, par value $.01 per share								11,002(5)	I	By R.A. Ortenzio Family Partnership, L.P.
Common Stock, par value $.01 per share								10,400	I	By Spouse

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: 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-qualified Stock Options (right to buy)	$5.88(1)	08/03/2004		M			222,000(1)	04/26/2001	04/25/2011	Common Stock	222,000(1)	$0.00	78,000(1)	D

Explanation of Responses:

1. Adjusted to reflect effect of 2-for-1 stock split of the Company's common stock paid on December 22, 2003.

2. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted on September 10, 2003.

3. Mr. Ortenzio is the managing partner and 25% owner of Select Investments I. Mr. Ortenzio disclaims beneficial ownership of any shares held by Select Investments I that exceed his pecuniary interest therein.

4. Mr. Ortenzio is a 25% owner, Director and Chief Executive Officer of Select Capital Corporation. Mr. Ortenzio disclaims beneficial ownership of any shares held by Select Capital Corporation that exceed his pecuniary interest therein.

5. These shares are directly owned by the R.A. Ortenzio Family Partnership, L.P., of which Mr. Ortenzio is a general partner. Mr. Ortenzio disclaims beneficial ownership of any shares held by the R.A. Ortenzio Family Partnership, L.P. that exceed his pecuniary interest therein.

Remarks:

	/s/ Michael E. Tarvin, attorney-in-fact for Rocco A. Ortenzio	08/04/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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