-----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,
 HxNhfY6GV5Jmc1dP59YTndU0LRWg0FZ6kLKHExh6oKZoxpN/XhziXNv23XkF0C9L
 JhO8uo9fdetwMiOaO36WXw==

<SEC-DOCUMENT>0001209191-04-048696.txt : 20041018
<SEC-HEADER>0001209191-04-048696.hdr.sgml : 20041018
<ACCEPTANCE-DATETIME>20041018182948
ACCESSION NUMBER:		0001209191-04-048696
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041018
FILED AS OF DATE:		20041018
DATE AS OF CHANGE:		20041018

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COST JOHN J
		CENTRAL INDEX KEY:			0001243691

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11471
		FILM NUMBER:		041083969

	MAIL ADDRESS:	
		STREET 1:		C/O LINCOLN PARTNERS LLC
		STREET 2:		200 W MADISON ST
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60015

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BELL INDUSTRIES INC /NEW/
		CENTRAL INDEX KEY:			0000945489
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		IRS NUMBER:				952039211
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1960 E GRAND AVENUE SUITE 560
		CITY:			EL SEGUNDO
		STATE:			CA
		ZIP:			90245
		BUSINESS PHONE:		3105632355

	MAIL ADDRESS:	
		STREET 1:		1960 E GRAND AVENUE SUITE 560
		CITY:			EL SEGUDON
		STATE:			CA
		ZIP:			90245

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CALIFORNIA BELL INDUSTRIES INC
		DATE OF NAME CHANGE:	19950519
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>a02334jc.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-10-18</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000945489</issuerCik>
        <issuerName>BELL INDUSTRIES INC /NEW/</issuerName>
        <issuerTradingSymbol>BI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001243691</rptOwnerCik>
            <rptOwnerName>COST JOHN J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2050 W. CANYON VIEW DR. #200</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ST. GEORGE</rptOwnerCity>
            <rptOwnerState>UT</rptOwnerState>
            <rptOwnerZipCode>84770</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Former Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Stock Option</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionDate>
                <value>2003-06-03</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.79</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>29706</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Transaction is not new or revised but is being reported again to gain access to the system.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Janet Simmons</signatureName>
        <signatureDate>2004-10-18</signatureDate>
    </ownerSignature>
</ownershipDocument>

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