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* VIZCARRONDO JULIO E JR (Last) (First) (Middle) PO BOX 362708 (Street) SAN JUAN PR 00936-2708 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol POPULAR INC [ BPOP ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/14/2004
	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 $6 per share	05/14/2004	05/14/2004	M		282	A	$34.87	212,327	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		395	A	$29.55	212,722	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		566	A	$28.78	213,288	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		508	A	$31.64	213,796	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		451	A	$35.65	214,247	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		603	A	$31.67	214,850	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		722	A	$31.99	215,572	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		614	A	$38.5	216,186	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		600	A	$37	216,786	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		515	A	$46.15	217,301	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		663	A	$44.9	217,964	D
Common Stock Par Value $6 per share	05/14/2004	05/14/2004	M		209	A	$30.56	218,173	D
Common Stock Par Value $6 per share								192,438	I	By wife
Common Stock Par Value $6 per share								806,256	I	Note 2(1)
Common Stock Par Value $6 per share								146,507	I	Note 3(2)
Common Stock Par Value $6 per share								1,471	I	Note 4(3)
Common Stock Par Value $6 per share								120,000	I	Note 5(4)

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
Stock Option (Right to Buy)	$30.56	05/14/2004	05/14/2004	M			209	04/30/2004(5)	05/09/2011	Common Stock Par Value $6 per share	209	$30.56	0.00	D
Stock Option (Right to buy)	$34.87	05/14/2004	05/14/2004	M			282	04/30/2004(5)	08/08/2011	Common Stock Par Value $6 per share	282	$34.87	0.00	D
Stock Option (Right to Buy)	$29.55	05/14/2004	05/14/2004	M			395	04/30/2004(5)	11/08/2011	Common Stock Par Value $6 per share	395	$29.55	0.00	D
Stock Option (Right to Buy)	$28.78	05/14/2004	05/14/2004	M			566	04/30/2004(5)	02/13/2012	Common Stock Par Value $6 per share	566	$28.78	0.00	D
Stock Option (Right to Buy)	$31.64	05/14/2004	05/14/2004	M			508	04/30/2004(5)	05/15/2012	Common Stock Par Value $6 per share	508	$31.64	0.00	D
Stock Option (Right to Buy)	$35.65	05/14/2004	05/14/2004	M			451	04/30/2004(5)	08/14/2012	Common Stock Par Value $6 per share	451	$35.65	112	D
Stock Option (Right to Buy)	$31.67	05/14/2004	05/14/2004	M			603	04/30/2004(5)	11/13/2012	Common Stock Par Value $6 per share	603	$31.67	0.00	D
Stock Option (Right to Buy)	$31.99	05/14/2004	05/14/2004	M			722	04/30/2004(5)	02/12/2013	Common Stock Par Value $6 per share	722	$31.99	0.00	D
Stock Option (Right to Buy)	$38.5	05/14/2004	05/14/2004	M			614	04/30/2004(5)	05/15/2013	Common Stock Par Value $6 per share	614	$38.5	0.00	D
Stock Option (Right to Buy)	$37	05/14/2004	05/14/2004	M			600	04/30/2004(5)	08/13/2013	Common Stock Par Value $6 per share	600	$37	0.00	D
Stock Option (Right to buy)	$46.15	05/14/2004	05/14/2004	M			515	04/30/2004(5)	11/12/2013	Common Stock Par Value $6 per share	515	$46.15	0.00	D
Stock Option (Right to buy)	$44.9	05/14/2004	05/14/2004	M			663	04/30/2004(5)	02/24/2014	Common Stock Par Value $6 per share	663	$44.9	0.00	D

Explanation of Responses:

1. Mr. Vizcarrondo's wife owns 18.18% in Junior Investment Corp., which owns 4,434,846.00 shares of Popular, Inc. at the end of year 2003.

2. As trustee of DMI Pension Trust. Mr. Vizcarrondo disclaims beneficial ownership of these shares.

3. Owned by Vicar Enterprises, Inc. which shares are held in trust for the benefit of Mr. Vizcarrondo's children. Mr. Vizcarrondo d isclaims beneficial ownership of these shares.

4. Shares belonging to the estate of Mr. Julio Vizcarrondo, Sr. over which Mr. Vizcarrondo, Jr. has investment power, but disclaims beneficial ownership, except for 80,000.00 shares, which Mr. Vizcarrondo, Jr. will inherite ones the estate is divided and distributed.

5. Options were fully vested upon retirement from the Board of Directors of Popular, Inc on April 30, 2004.

Remarks:

	Julio E. Vizcarrondo, Jr.	05/14/2004
	** 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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