SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                        ________________________________

                                    FORM 8-K

                 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

                     OF THE SECURITIES EXCHANGE ACT OF 1934




         Date of report (date of earliest event reported): July 29, 2003




                        FINANCIAL INDUSTRIES CORPORATION
               (Exact name of Registrant as specified in charter)



     Texas                             0-4690                   74-2126975
(State or other jurisdiction      (Commission file         (I.R.S. employer
 of incorporation)                 number)                  identification no.)



                      6500 River Place Blvd., Building One
                               Austin, Texas 78730
                    (Address of principal executive offices)

       Registrant's telephone number, including area code: (512) 404-5000

                          ____________________________


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ITEM 5.  Other Information

     As previously described in the Definitive Proxy Statement of FIC dated June
26,  2003  under  the  heading  entitled  "Certain   Relationships  and  Related
Transactions-New  Era  Transactions,"  American  Physicians  Service  Group Inc.
("APS") and a subsidiary of Equita  Financial  and Insurance  Services of Texas,
Inc.  ("Equita")  acquired  312,484 and 204,918  shares of Common  Stock of FIC,
respectively, from The Roy F. and Joann Cole Mitte Foundation (the "Foundation")
prior to the record date for the 2003 Annual  Shareholders  Meeting (the "Annual
Meeting").  Such  shares  were  subject  to  the  proxy  granted  to  FIC by the
Foundation  as more  particularly  described  in the Proxy  Statement  under the
heading entitled "Certain Relationships and Related  Transactions-Settlement  of
Litigation with Mitte Family."

     On July 29,  2003 FIC, at the  request of APS and M&W  Financial  Services,
Inc. ("M&W") (the Equita subsidiary), FIC released the proxy with respect to the
shares  of  Common  Stock of FIC  acquired  by APS and M&W from the  Foundation.
Accordingly,  APS and M&W can each vote their respective  shares directly at the
Annual Meeting.

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                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                        FINANCIAL INDUSTRIES CORPORATION



Date:  July 29, 2003                    By:      /s/ Theodore A. Fleron
                                           ____________________________________
                                           Theodore A. Fleron
                                           General Counsel and Secretary


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