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
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 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*
O NEAL LESLIE K
(Last) (First) (Middle)
1300 SOUTH MOPAC
(Street)
AUSTIN TX 78746
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
TEMPLE INLAND INC [ TIN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP, Secretary, & AsstGenCnsl
3. Date of Earliest Transaction (Month/Day/Year)
08/18/2004
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 08/18/2004 08/18/2004 M 1,825 A $56.06 7,731(1) D
Common Stock 08/18/2004 08/18/2004 M 1,634 A $55.05 9,365(1) D
Common Stock 08/18/2004 08/18/2004 F 3,053 D $66.42 6,312(1) D
Common Stock 2,165(2) I By Trustee of 401(k) Plan
Common Stock 1,579(2) I By Trustee of 401(k) Plan
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
Option (right to buy) $56.06 08/18/2004 08/18/2004 M 1,825 02/07/1998(3) 02/07/2007(3) Common Stock 1,825(3) $0.00 0(3) D
Option (right to buy) $55.5 08/18/2004 08/18/2004 M 1,634 02/06/1999(4) 02/06/2008(4) Common Stock 3,000(4) $0.00 1,366(4) D
Option (right to buy) $59.25 02/05/2000(5) 02/05/2009(5) Common Stock 3,000(5) 3,000(5) D
Option (right to buy) $55.28 02/04/2001(6) 02/04/2010(6) Common Stock 5,000(6) 5,000(6) D
Option (right to buy) $51.3 02/02/2002(7) 02/02/2011(7) Common Stock 10,000(7) 10,000(7) D
Option (right to buy) $55.32 02/01/2003(8) 02/01/2012(8) Common Stock 10,000(8) 10,000(8) D
Option (right to buy) $43.01 02/07/2004(9) 02/04/2013(9) Common Stock 6,000(9) 6,000(9) D
Option (right to buy) $60.03 02/06/2005(10) 02/06/2014(10) Common Stock 3,000(10) 3,000(10) D
Phantom Stock (11) (11) (11) Common Stock 2,022(11) 2,022(11) D
Explanation of Responses:
1. In accordance with the Shareholder Rights Plan adopted by the Company on February 9, 1999, Preferred Stock Purchase Rights are deemed to be attached to the shares of Common Stock.
2. Reporting Person acquired additional shares through on-going acquisitions under 401(k) plan. By trustee of the Temple-Inland Salaried Savings Plan according to the latest report of the Plan Administrator dated June 30, 2004. (Note: Trustee uses unit accounting; therefore, share equivalents may fluctuate slightly from month to month.)
3. Options vesting schedule: Options Exercisable 02/07/1998 - 365; Options Exercisable 02/07/1999 - 365; Options Exercisable 02/07/2000 - 365; Options Exercisable 02/07/2001 - 365; Options Exercisable 02/07/2002 - 365.
4. Options vesting schedule: Options Exercisable 02/06/1999 - 600; Options Exercisable 02/06/2000 - 600; Options Exercisable 02/06/2001 - 600; Options Exercisable 02/06/2002 - 600; Options Exercisable 02/06/2003 - 600.
5. Options vesting schedule: Options Exercisable 02/05/2000 - 600; Options Exercisable 02/05/2001 - 600; Options Exercisable 02/05/2002 - 600; Options Exercisable 02/05/2003 - 600; Options Exercisable 02/05/2004 - 600.
6. Options vesting schedule: Options Exercisable 02/04/2001 - 1,000; Options Exercisable 02/04/2002 - 1,000; Options Exercisable 02/04/2003 - 1,000; Options Exercisable 02/04/2004 - 1,000; Options Exercisable 02/04/2005 - 1,000.
7. Options vesting schedule: Options Exercisable 02/02/2002 - 2,500; Options Exercisable 02/02/2003 - 2,500; Options Exercisable 02/02/2004 - 2,500; Options Exercisable 02/02/2005 - 2,500.
8. Options vesting schedule: Options Exercisable 02/01/2003 - 2,500; Options Exercisable 02/01/2004 - 2,500; Options Exercisable 02/01/2005 - 2,500; Options Exercisable 02/01/2006 - 2,500.
9. Options vesting schedule: Option Exercisable 02/07/2004 - 1,500; Option Exercisable 02/07/2005 - 1,500; Option Exercisable 02/07/2006 - 1,500; Option Exercisable 02/07/2007 - 1,500.
10. Options Vesting Schedule: Options exercisable 02/06/2005 - 750; Options Exercisable 02/06/2006 - 750; Options Exercisable 02/06/2007 - 750; Options Exercisable 02/06/2008 - 750.
11. Phantom shares accrued under a Company plan, which includes a dividend reinvestment feature, to be settled upon Reporting Person's retirement. 02/06/2004 - 1,000 restricted stock units vest 100% at the end of 3 years if still employed. 02/06/2004 - 1,000 restricted performance stock units vest 0%, 75%, or 100% at the end of 3 years depending on whether certain performance criteria are met.
Remarks:
Signed by Leslie K. O'Neal 08/18/2004
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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