<SUBMISSION>
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<PERIOD>20030818
<FILING-DATE>20030819
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>WATTS INDUSTRIES INC
<CIK>0000795403
<ASSIGNED-SIC>3490
<IRS-NUMBER>042916536
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
<PHONE>9786881811
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>815 CHESTNUT STREET
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
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<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>MERCHANT WILLIAM J
<CIK>0001234694
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<FILING-VALUES>
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<ACT>34
<FILE-NUMBER>001-11499
<FILM-NUMBER>03854635
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<BUSINESS-ADDRESS>
<STREET1>WATTS INDUSTRIES INC
<STREET2>ROUTE 815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
<PHONE>9786881811
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>WATTS INDUSTRIES INC
<STREET2>ROUTE 815 CHESTNUT ST
<CITY>NORTH ANDOVER
<STATE>MA
<ZIP>01845
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>eps1249_ex.xml
<DESCRIPTION>WILLIAM J. MERCHANT
<TEXT>
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<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
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   <footnotes>
      <footnote id="F1"> Granted pursuant to the Watts Industries, Inc. 1996 Stock Option Plan in a transaction exempt from Section 16b of the Exchange Act.</footnote>
      <footnote id="F2"> 1,600 shares are exercisable on each July 24, 2003, 2004, 2005, 2006 and 2007.</footnote>
      <footnote id="F3"> Awarded pursuant to the Watts Industries, Inc. Management Stock Purchase Plan in a transaction exempt under Rule 16b-3(d) promulgated under the Exchange Act. RSUs are awarded in lieu of all or a portion of the reporting person's annual bonus at the reporting person's election at a price equal to 67% of the fair market value of the Class A Common Stock on the date of award.</footnote>
      <footnote id="F4"> Restricted Stock Units (RSUs) vest three years from the date of award and entitle the owner to one share of Class A Common Stock for each vested RSU on such date or a later date if a deferral period was selected by such owner.</footnote>
      <footnote id="F5"> All or a portion of the non-vested RSUs will be cancelled in the event of termination of employment, death or permanent disability.</footnote>
      <footnote id="F6"> 1,600 shares exercisable on each August 6, 2004, 2005, 2006, 2007, 2008.</footnote>
      <footnote id="F7"> Class A Common Stock shares acquired upon the cashless exercise of stock options.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>William J. Merchant</signatureName>
      <signatureDate>2003-08-19</signatureDate>
   </ownerSignature>
</ownershipDocument>

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