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* SPEZIO CARL P (Last) (First) (Middle) 3556 LAKESHORE ROAD PO BOX 2028 (Street) BUFFALO NY 14219 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol GIBRALTAR STEEL CORP [ Rock ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Exec VP Operations
	3. Date of Earliest Transaction (Month/Day/Year) 01/22/2004
	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	01/22/2004(1)		J(1)	V	7.07	A	$24.82(1)	3,721.21	I	Gibraltar Steel Corporation 401(k) Savings Plan
Common stock								17,402	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
Option to Buy(2)	$11							11/06/1996	11/05/2005	Common stock	5,375		5,375	D
Option to Buy(2)	$16.75							07/08/1997	07/07/2006	Common stock	15,000		15,000	D
Option to Buy(2)	$21.75							07/08/1998	07/07/2007	Common stock	12,500		12,500	D
Option to Buy(2)	$22.5							03/27/1999	03/27/2008	Common stock	2,500		2,500	D
Option to Buy(2)	$15.625							10/08/1999	10/08/2008	Common stock	12,500		12,500	D
Option to Buy(2)	$14.07							07/18/2001	07/18/2010	Common stock	10,000		10,000	D

Explanation of Responses:

1. Represents the net effect of shares purchased and sold from October 1, 2003 through December 31, 2003 pursuant to the Gibraltar Steel Corporation 401(k) Savings Plan at an average price of $24.82 per share. The information reported herein is based on a Plan Statement dated January 20, 2004.

2. Grants to reporting person of option to purchase shares of common stock under the Gibraltar Steel Corporation Incentive Stock Option Plan. The options are exercisable at the rate of 25% per year.

	/s/Carl P. Spezio	01/22/2004
	** 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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