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| **EXHIBIT 32**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
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|      Harry Lee Waterfield IIand Raymond L. Carr, being the President and Vice President, ChiefFinancial Officer, respectively, of Kentucky Investors, Inc.,hereby certify as of this Fifth day of November, 2003, that theForm 10-Q for the Quarter ended September 30, 2003 fully complieswith the requirements of Section 13(a) or 15(d) of the SecuritiesExchange Act of 1934 and that the information contained in the Form10-Q fairly presents, in all material respects, the financialcondition and results of operations of Kentucky Investors,Inc. |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | **KENTUCKY INVESTORS,INC.** |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | BY: /s/Harry Lee WaterfieldII |
| DATE: November 5,2003                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |       President |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | BY: /s/Raymond L.Carr |
| DATE: November 5,2003                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |       Vice President -Chief Financial Officer |
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