Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
KEYES JAMES W
   2. Issuer Name and Ticker or Trading Symbol
7 ELEVEN INC [SE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
2711 N. HASKELL AVE.		 3. Date of Earliest Transaction (Month/Day/Year)
12/06/2004
(Street)

DALLAS, TX 75204		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               9,100 I Note (1)
Common Stock               1,290 I Note (2)
Common Stock               31,037 D (3)  
Common Stock 12/06/2004   M   10,186 A $ 12.35 121,528 D  
Common Stock 12/06/2004   S   7,224 D $ 22.896 (4) 114,304 D  
Common Stock 12/06/2004   M   14,360 A $ 12.35 128,664 D  
Common Stock 12/06/2004   S   11,243 D $ 22.896 (4) 117,421 D  
Common Stock 12/07/2004   M   2,791 A $ 15 120,212 D  
Common Stock 12/07/2004   S   2,200 D $ 22.6182 (4) 118,012 D  
Common Stock 12/08/2004   M   52,849 A $ 15 170,861 D  
Common Stock 12/08/2004   S   41,288 D $ 22.9875 (4) 129,573 D  
Common Stock 12/08/2004   M   50,000 A $ 15.94 179,573 D  
Common Stock 12/08/2004   S   40,365 D $ 22.9875 (4) 139,208 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options $ 16.21             01/21/2005 01/21/2014 Common Stock 170,000   170,000 D  
Employee Stock Options $ 6.88             03/07/2004 03/07/2013 Common Stock 250,000   250,000 D  
Employee Stock Options $ 9.12             04/24/2003 04/24/2012 Common Stock 271,000   271,000 D  
Employee Stock Options $ 10.92             05/14/2002 05/14/2011 Common Stock 200,000   200,000 D  
Employee Stock Options $ 19             05/23/2001 05/23/2010 Common Stock 366,000   366,000 D  
Employee Stock Options $ 9.38             10/08/2000 10/08/2009 Common Stock 70,000   70,000 D  
Employee Stock Options $ 9.53             10/14/1999 10/14/2008 Common Stock 70,000   70,000 D  
Employee Stock Options $ 12.35 12/06/2004   M     10,186 11/12/1998 11/12/2007 Common Stock 10,186 $ 12.35 0 D  
Employee Stock Options $ 15 12/06/2004   M     14,360 10/01/1997 10/01/2006 Common Stock 14,360 $ 12.35 55,640 D  
Employee Stock Options $ 15 12/07/2004   M     2,791 10/01/1997 10/01/2006 Common Stock 2,791 $ 12.35 52,849 D  
Employee Stock Options $ 15 12/08/2004   M     52,849 10/01/1997 10/01/2006 Common Stock 52,849 $ 15 0 D  
Employee Stock Options $ 15.94 12/08/2004   M     50,000 10/23/1996 10/23/2005 Common Stock 50,000 $ 15.94 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
KEYES JAMES W
2711 N. HASKELL AVE.
DALLAS, TX 75204		   X     President and CEO  

Signatures

 David T. Fenton, Attorney-in-fact   12/08/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares are held in brokerage account for the benefit of the Reporting Person.
(2) Shares are held for the benefit of the Reporting Person in an account with the administrator of the Issuer's Employee Stock Purchase Plan, Computershare Investor Services LLC.
(3) Restricted Stock Units, each convertible into one share of the Company's Common Stock on the first day of the month following the Reporting Person's separation from employment with the Issuer, were granted under the Issuer's 1995 Stock Incentive Plan pursuant to the requirements of Rule 16b-3.
(4) The listed number of shares were sold pursuant to a Rule 10b5-1 sales plan. In connection with the exercise of certain stock options granted in 1995, 1996, and 1997, the Reporting Person (i) sold the number of shares necessary to pay fees, commissions, any applicable transfer and withholding taxes and the exercise price of the options exercised and (ii) retained the remaining shares.

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