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* SMITH MICHAEL D (Last) (First) (Middle) C/O NU SKIN ENTERPRISES, INC. 75 WEST CENTER STREET (Street) PROVO UT 84601 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol NU SKIN ENTERPRISES INC [ NUS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) X Other (specify below) Regional Vice President- / South Asia and Pacific
	3. Date of Earliest Transaction (Month/Day/Year) 02/27/2004
	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
Class A Common Stock								820(1)	D

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
Employee Stock Option (right to buy)(2)	$12.45							04/19/2002(4)	10/20/2007	Class A Common Stock	9,500		9,500(1)	D
Employee Stock Option (right to buy)(2)	$12.45							04/19/2002(4)	08/21/2008	Class A Common Stock	9,000		9,000(1)	D
Employee Stock Option (right to buy)(2)	$12.45							04/19/2002(5)	08/31/2011	Class A Common Stock	3,750		3,750(1)	D
Employee Stock Option (right to buy)(2)	$12.45							08/31/2002(4)	08/31/2009	Class A Common Stock	10,000		10,000(1)	D
Employee Stock Option (right to buy)(2)	$12.45							04/19/2003(3)	04/19/2012	Class A Common Stock	5,625		5,625(1)	D
Employee Stock Option (right to buy)(2)	$12							09/03/2003(3)	09/03/2012	Class A Common Stock	9,375		9,375(1)	D
Employee Stock Option (right to buy)(2)	$9.04							03/10/2004(3)	03/10/2013	Class A Common Stock	12,500		12,500(1)	D
Employee Stock Option (right to buy)(2)	$11.5							09/02/2004(3)	09/02/2013	Class A Common Stock	12,500		12,500(1)	D
Employee Stock Option (right to buy)(2)	$6.56							08/31/2001(3)	08/31/2010	Class A Common Stock	3,750		3,750(1)	D
Employee Stock Option (right to buy)(2)	$8.2							02/28/2002(3)	02/28/2011	Class A Common Stock	3,750		3,750(1)	D
Employee Stock Option (right to buy)	$19.15	02/27/2004		A		10,000		02/27/2005(3)	02/27/2014	Class A Common Stock	10,000	(6)	10,000(1)	D

Explanation of Responses:

1. Represents number of shares beneficially owned as of February 27, 2004.

2. Previously reported.

3. Becomes exercisable in four equal annual installments beginning on the date indicated.

4. Fifty percent became exercisable on 4/19/2003 and fifty percent becomes exercisable on 4/19/2004.

5. 25% became exercisable on 4/19/2003, 25% becomes exercisable on 4/19/2004, 25% on 8/31/2004, and 25% on 8/31/2005.

6. Price not applicable.

Remarks:

	D. Matthew Dorny as Attorney-in-Fact for Michael D. Smith	03/02/2004
	** 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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