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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 14th day of May, 2004, that the Form 10-Qfor the Quarter ended March 31, 2004 fully complies with therequirements of Section 13(a) or 15(d) of the Securities ExchangeAct of 1934 and that the information contained in the Form 10-Qfairly presents, in all material respects, the financial conditionand results of operations of Kentucky Investors, Inc. |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | **KENTUCKY INVESTORS,INC.** |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | BY: /s/Harry Lee WaterfieldII |
| DATE: May 14, 2004                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |       President |
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|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | BY: /s/Raymond L.Carr |
| DATE: May 14, 2004                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |       Vice President -Chief Financial Officer |