-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 O5gB/1ZHbykDzgHxUwiFhfDDgOPfH0rqEEQGXybcnn/ctLxMoxXcsxNaCIZAAAW8
 NEM4EdUD+Y8LzywuZjzDkQ==

<SEC-DOCUMENT>0001005477-03-002934.txt : 20030801
<SEC-HEADER>0001005477-03-002934.hdr.sgml : 20030801
<ACCEPTANCE-DATETIME>20030801114212
ACCESSION NUMBER:		0001005477-03-002934
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030801
FILED AS OF DATE:		20030801

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BENCHMARK BANKSHARES INC
		CENTRAL INDEX KEY:			0000804563
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				541460991
		STATE OF INCORPORATION:			VA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		100 S BROAD ST
		CITY:			KENBRIDGE
		STATE:			VA
		ZIP:			23944
		BUSINESS PHONE:		8046768444

	MAIL ADDRESS:	
		STREET 1:		100 S BROAD ST
		CITY:			KENBRIDGE
		STATE:			VA
		ZIP:			23944

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WATSON BEN L III
		CENTRAL INDEX KEY:			0001214004

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18445
		FILM NUMBER:		03816882

	MAIL ADDRESS:	
		STREET 1:		PO BOX 102
		CITY:			KENBRIDGE
		STATE:			VA
		ZIP:			23944
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-08-01</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000804563</issuerCik>
        <issuerName>BENCHMARK BANKSHARES INC</issuerName>
        <issuerTradingSymbol>BMRB.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001214004</rptOwnerCik>
            <rptOwnerName>WATSON BEN L III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>P. O. BOX 102</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>KENBRIDGE</rptOwnerCity>
            <rptOwnerState>VA</rptOwnerState>
            <rptOwnerZipCode>23944</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>1</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
        <officerTitle>President</officerTitle>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-08-01</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>500.000</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>7.38</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>19014.000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

        <nonDerivativeHolding>

        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>457.508</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>I</value>
            </directOrIndirectOwnership>

            <natureOfOwnership>
                <value>Solely By Wife</value>
            </natureOfOwnership>
        </ownershipNature>
        </nonDerivativeHolding>

    </nonDerivativeTable>
    <ownerSignature>
        <signatureName>Ben L. Watson, III</signatureName>
        <signatureDate>2003-08-01</signatureDate>
    </ownerSignature>

</ownershipDocument>

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