X0201 5 2003-12-31 0 0 0 0000725897 CIRCUIT RESEARCH LABS INC CRLI 0001160095 MCMARTIN ROBERT 0 1 0 0 VP, CFO and Treasurer Common Stock, par value $.10 per share 2003-12-31 5 J 0 L 2201.69 A 17329.26 D Represents shares acquired under the Issuer's Employee Monthly Stock Investment Plan. The plan is offered to substantially all employees, including officers. Employees may purchase the Company's common stock through payroll deductions not exceeding $250 per week. A non-affiliated dealer on the open market purchases shares at the market price. Includes 13,500 shares previously reported on a Form 4 filed by the Reporting Person on August 19, 2003. /s/ Robert W. McMartin 2004-04-12