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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001010549-03-000134.txt : 20030325
<SEC-HEADER>0001010549-03-000134.hdr.sgml : 20030325
<ACCEPTANCE-DATETIME>20030325160958
ACCESSION NUMBER:		0001010549-03-000134
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030324
FILED AS OF DATE:		20030325

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL SOUTHWEST CORP
		CENTRAL INDEX KEY:			0000017313
		IRS NUMBER:				751072796
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-01056
		FILM NUMBER:		03615914

	BUSINESS ADDRESS:	
		STREET 1:		12900 PRESTON RD STE 700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75230
		BUSINESS PHONE:		9722338242

	MAIL ADDRESS:	
		STREET 1:		12900 PRESTON RD
		STREET 2:		SUITE 700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75230

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			THOMAS WILLIAM R
		CENTRAL INDEX KEY:			0001053587
		RELATIONSHIP:				DIRECTOR

	FILING VALUES:
		FORM TYPE:		4/A

	BUSINESS ADDRESS:	
		STREET 1:		12900 PRESTON RD
		STREET 2:		STE 700
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		9722338242

	MAIL ADDRESS:	
		STREET 1:		7418 OVERDALE DR
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>capitalswform4thomas032403.txt
<TEXT>

                     U.S. SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM 4/A

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[_]  Check 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*

   Thomas                           William                     R.
- --------------------------------------------------------------------------------
   (Last)                           (First)                  (Middle)

                         12900 Preston Road, Suite 700
- --------------------------------------------------------------------------------
                                    (Street)

   Dallas                            Texas                     75230
- --------------------------------------------------------------------------------
   (City)                           (State)                    (Zip)


________________________________________________________________________________
2.   Issuer Name and Ticker or Trading Symbol


Capital Southwest Corporation (CSWC)
________________________________________________________________________________
3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)



________________________________________________________________________________
4.   Statement for Month/Day/Year


March 24, 2003
________________________________________________________________________________
5.   If Amendment, Date of Original (Month/Day/Year)

Marc 24, 2003
________________________________________________________________________________
6.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [X]  Director                             [X]  10% Owner
     [X]  Officer (give title below)           [_]  Other (specify below)

     President & Chairman
________________________________________________________________________________
7.   Individual or Joint/Group Filing (Check applicable line)

     [X]  Form filed by one Reporting Person
     [_]  Form filed by more than one Reporting Person
________________________________________________________________________________

<PAGE>

================================================================================
           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
================================================================================
<TABLE>
<CAPTION>
                                                                                                 5.             6.
                                                                 4.                              Amount of      Owner-
                                                                 Securities Acquired (A) or      Securities     ship
                                      2A.           3.           Disposed of (D)                 Befeficially   Form:     7.
                          2.          Deemed        Transaction  (Instr. 3, 4 and 5)             Owned Follow-  Direct    Nature of
                          Trans-      Executin      Code         ------------------------------- ing Reported   (D) or    Indirect
1.                        action      Date,         (Instr. 8)                   (A)             Transaction(s) Indirect  Beneficial
Title of Security         Date        if  any       ------------     Amount      or     Price    (Instr. 3      (I)       Ownership
(Instr. 3)                (mm/dd/yy)  (mm/dd/yy)     Code     V                  (D)             and 4)         (Instr.4) (Instr. 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>         <C>            <C>      <C>    <C>         <C>    <C>      <C>            <C>       <C>

Common Stock                                                                                     328,610        D
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock                                                                                     206,525        I        Note 1
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock              03/24/03                   W               328         A      Various   75,948        I        Note 2
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock                                                                                         577        I        Held by IRA
- ------------------------------------------------------------------------------------------------------------------------------------

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(1) A total of 206,525 shares are held by Thomas  Heritage  Partners,  Ltd. (the
"Partnership).  The reporting person holds a 52.6% majority  membership interest
in, and is the President and sole manager of Thomas Heritage  Company,  LLC, the
sole  general  partner of the  Parnership  and owner of a 1.3%  general  partner
interest.  The  reporting  person  directly  holds a 50.7%  limited  partnership
interest in the Partnership.  (2) The reporting person has voting and investment
control over 75,948 shares owned directly by members of his immediate family.
====================================================================================================================================
</TABLE>
*    If the Form is filed by more than one  Reporting  Person,  see  Instruction
     4(b)(v).

Reminder: Report on a separate line for each class of securities beneficially
          owned directly or indirectly.

                            (Print or Type Response)                      (Over)

<PAGE>


FORM 4 (continued)

Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
         (e.g., puts, calls, warrants, options, convertible securities)

================================================================================
<TABLE>
<CAPTION>
                                                                                                           9.        10.
                                                                                                           Number    Owner-
                                                                                                           of        ship
                                                                                                           Deriv-    Form
              2.                                                                                           ative     of
              Conver-                           5.                              7.                         Secur-    Deriv-  11.
              sion                              Number of                       Title and Amount           ities     ative   Nature
              or               3A.              Derivative    6.                of Underlying     8.       Bene-     Secur-  of
              Exer-            Deemed   4.      Securities    Date              Securities        Price    ficially  ity:    In-
              cise     3.      Exe-     Trans-  Acquired (A)  Exercisable and   (Instr. 3 and 4)  of       Owned     Direct  direct
              Price    Trans-  cution   action  or Disposed   Expiration Date   ----------------  Deriv-   Following (D) or  Bene-
1.            of       action  Date,    Code    of(D)         (Month/Day/Year)            Amount  ative    Reported  In-     ficial
Title of      Deriv-   Date    if any   (Instr. (Instr. 3,    ----------------            or      Secur-   Trans-    direct  Owner-
Derivative    ative    (Month/ Month/   8)      4 and 5)      Date     Expira-            Number  ity      action    (I)     ship
Security      Secur-   Day/    Day/     ------  ------------  Exer-    tion               of      (Instr.  (Instr.   (Instr. (Instr.
(Instr. 3)    ity      Year)   Year)    Code V   (A)   (D)    cisable  Date     Title     Shares  5)       4)        4)      4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>           <C>      <C>     <C>      <C>     <C>    <C>    <C>      <C>      <C>       <C>     <C>      <C>       <C>      <C>

Incentive
Stock                                                                           Common
Option (A)    84.70                                           7/19/99  7/19/04  Stock     6,000            6,000     D
- ------------------------------------------------------------------------------------------------------------------------------------


- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

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====================================================================================================================================
</TABLE>
Explanation of Responses:
(A)  Exercisable  20% on the 7/19/99  option grant date and in four equal annual
cumulative  installments  of 20% of the subject shares on January 1, 2000 and on
each January 1 thereafter.

          /s/ William R. Thomas                                  3/24/03
- ---------------------------------------------            -----------------------
      **Signature of Reporting Person                             Date


**     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 provided is insufficient, see Instruction 6 for procedure.





</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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