| **EXHIBIT 32**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
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|      Harry        Lee Waterfield II and Raymond L. Carr, being the        President and Vice President, Chief Financial Officer,        respectively, of Kentucky Investors, Inc., hereby certify        as of this Thirteenth day of August, 2003, that the Form        10-Q for the Quarter ended June 30, 2003 fully complies        with the requirements of Section 13(a) or 15(d) of the        Securities Exchange Act of 1934 and that the information        contained in the Form 10-Q fairly presents, in all        material respects, the financial condition and results of        operations of Kentucky Investors, Inc. |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | **KENTUCKY        INVESTORS, INC.** |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | BY: /s/ Harry Lee        Waterfield II |
| DATE: August 13, 2003                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |       President |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             | BY: /s/ Raymond L.        Carr |
| DATE: August 13, 2003                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |       Vice        President - Chief Financial Officer |