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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Sc4TQvwwHksOKgKFHMMIXZHgODWSclWEO6tRcyWaJ5lduvBNJHR22IsE1gM1y4Ru
 my27rcp5+Ok47fxhOOwxFQ==

<SEC-DOCUMENT>0001181431-04-028363.txt : 20040528
<SEC-HEADER>0001181431-04-028363.hdr.sgml : 20040528
<ACCEPTANCE-DATETIME>20040528140926
ACCESSION NUMBER:		0001181431-04-028363
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040526
FILED AS OF DATE:		20040528

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WOOD FRANK E
		CENTRAL INDEX KEY:			0001207142

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13806
		FILM NUMBER:		04837933

	MAIL ADDRESS:	
		STREET 1:		312 WALNUT STE 3550
		CITY:			CINCINNATI
		STATE:			OH
		ZIP:			45202

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REWARDS NETWORK INC
		CENTRAL INDEX KEY:			0000078536
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				846028875
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		11900 BISCAYNE BLVD
		STREET 2:		STE 460
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33181
		BUSINESS PHONE:		3058923300

	MAIL ADDRESS:	
		STREET 1:		11900 BISCAYNE BLVD
		STREET 2:		SUITE 460
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33181

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IDINE REWARDS NETWORK INC
		DATE OF NAME CHANGE:	20020613

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSMEDIA NETWORK INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PIKES PEAK AMERICAN CORP
		DATE OF NAME CHANGE:	19840912
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd43867.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000078536</issuerCik>
        <issuerName>REWARDS NETWORK INC</issuerName>
        <issuerTradingSymbol>IRN</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001207142</rptOwnerCik>
            <rptOwnerName>WOOD FRANK E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SECRET COMMUNICATIONS</rptOwnerStreet1>
            <rptOwnerStreet2>312 WALNUT STREET, SUITE 3550</rptOwnerStreet2>
            <rptOwnerCity>CINCINNATI</rptOwnerCity>
            <rptOwnerState>OH</rptOwnerState>
            <rptOwnerZipCode>45202</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Qualified Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.1000</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-05-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0.0000</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-05-26</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-05-26</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Awarded as compensation for serving on the Board of Directors.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Frank E. Wood</signatureName>
        <signatureDate>2004-05-27</signatureDate>
    </ownerSignature>
</ownershipDocument>

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