-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UNbtwsxknH7pAFY9aWYogwB+bKbtpb3A0affXI1ZQVFrZp4HxiPCbqil3c0t/upD
 aixtdEq64BriFLYEJ2bw+A==

<SEC-DOCUMENT>0001181431-04-035972.txt : 20040719
<SEC-HEADER>0001181431-04-035972.hdr.sgml : 20040719
<ACCEPTANCE-DATETIME>20040719174452
ACCESSION NUMBER:		0001181431-04-035972
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040716
FILED AS OF DATE:		20040719

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AMBROGIO PASQUALE A
		CENTRAL INDEX KEY:			0001279334

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04323
		FILM NUMBER:		04920659

	MAIL ADDRESS:	
		STREET 1:		9440 SANTO MONICA BVD
		STREET 2:		STE 407
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90210

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GIANT GROUP LTD
		CENTRAL INDEX KEY:			0000041296
		STANDARD INDUSTRIAL CLASSIFICATION:	 [9995]
		IRS NUMBER:				230622690
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		9440 SANTA MONICA BLVD
		STREET 2:		SUITE 407
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90210
		BUSINESS PHONE:		3102735678

	MAIL ADDRESS:	
		STREET 1:		9440 SANTA MONICA BLVD
		STREET 2:		SUITE 407
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90210

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GIANT PORTLAND & MASONRY CEMENT CO
		DATE OF NAME CHANGE:	19850610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GIANT PORTLAND CEMENT CO
		DATE OF NAME CHANGE:	19770921
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>rrd48342.xml
<DESCRIPTION>FORM 4/A
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2004-07-16</periodOfReport>

    <dateOfOriginalSubmission>2004-06-29</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000041296</issuerCik>
        <issuerName>GIANT GROUP LTD</issuerName>
        <issuerTradingSymbol>GPOL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001279334</rptOwnerCik>
            <rptOwnerName>AMBROGIO PASQUALE A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>9440 SANTA MONICA BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 407</rptOwnerStreet2>
            <rptOwnerCity>BEVERLY HILLS</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>90210</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock,par value $.01*</value>
            </securityTitle>
            <transactionDate>
                <value>2004-06-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4950</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock,par value $.01</value>
            </securityTitle>
            <transactionDate>
                <value>2004-07-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6007</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10957</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option *</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.15</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-06-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2002-06-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-06-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>(Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.15</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-07-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6007</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2002-06-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-06-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6007</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3993</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <remarks>* Reported incorrectly</remarks>

    <ownerSignature>
        <signatureName>/s/ Pasquale Ambrogio</signatureName>
        <signatureDate>2004-07-19</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----