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<p><b><font size="2">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. &nbsp;20549<br>
</font>
<br>
FORM 8-K</b></p>
<p align="center"><b>CURRENT REPORT<br>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act
of 1934</b></p>
<p align="center"><br>
Date of Report (Date of earliest event reported) &nbsp;&nbsp;&nbsp;<u>November
14,
2008</u><br>
</p>
<table border="0" cellspacing="1" width="450">
  <tr>
    <td>
    <p align="center"><b><font size="5">KIMBALL INTERNATIONAL, INC.</font></b></td>
  </tr>
  <tr>
    <td><hr SIZE="1"></td>
  </tr>
  <tr>
    <td>
    <p align="center"><font size="2">(Exact name of registrant as specified in
    its charter)</font></td>
  </tr>
</table>
<p align="center"></p>
<center>
<table cellSpacing="0" width="624" border="0">
  <tr>
    <td width="33%">&nbsp;</td>
    <td width="33%">&nbsp;</td>
    <td width="33%">&nbsp;</td>
  </tr>
  <tr>
    <td>
    <p align="center">Indiana</td>
    <td>
    <p align="center">0-3279</td>
    <td>
    <p align="center">35-0514506</td>
  </tr>
  <tr>
    <td>
    <p align="center"></p>
    <hr width="90%" SIZE="1"></td>
    <td>
    <p align="center"></p>
    <hr width="48%" SIZE="1"></td>
    <td>
    <p align="center"></p>
    <hr width="90%" SIZE="1"></td>
  </tr>
  <tr>
    <td align="center"><font size="2">(State or other jurisdiction of</font></td>
    <td align="center"><font size="2">(Commission File</font></td>
    <td align="center"><font size="2">(IRS Employer Identification No.)</font></td>
  </tr>
  <tr>
    <td align="center"><font size="2">incorporation)</font></td>
    <td align="center"><font size="2">Number)</font></td>
    <td>&nbsp;</td>
  </tr>
</table>
<table cellSpacing="0" width="624" border="0">
  <tr>
    <td width="55%">&nbsp;</td>
    <td width="4%">&nbsp;</td>
    <td width="41%">&nbsp;</td>
  </tr>
  <tr>
    <td>
    <p align="center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>
    <p align="center">&nbsp;</td>
  </tr>
  <tr>
    <td>
    <p align="center">1600 Royal Street, Jasper, Indiana</td>
    <td>&nbsp;</td>
    <td>
    <p align="center">47549-1001</td>
  </tr>
  <tr>
    <td>
    <p align="center"></p>
    <hr width="64%" SIZE="1"></td>
    <td>&nbsp;</td>
    <td>
    <p align="center"></p>
    <hr width="48%" SIZE="1"></td>
  </tr>
  <tr>
    <td align="center"><font size="2">(Address of principal executive offices)</font></td>
    <td>&nbsp;</td>
    <td align="center"><font size="2">(Zip Code)</font></td>
  </tr>
</table>
</center>
<p align="center">Registrant's telephone number, including area code &nbsp;&nbsp;<u>(812)
482-1600</u></p>
<table border="0" cellspacing="1" width="350">
  <tr>
    <td>
    <p align="center">Not Applicable</td>
  </tr>
  <tr>
    <td><hr SIZE="1"></td>
  </tr>
  <tr>
    <td>
    <p align="center"><font size="2">(Former name or former address, if changed
    since last report)</font></td>
  </tr>
</table>
</center>
<p align="left"><font size="2">Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2.
below):</font></p>
<p align="left"><font size="2">[&nbsp;&nbsp; ] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>
<p align="left"><font size="2">[&nbsp;&nbsp; ] Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>
<p align="left"><font size="2">[&nbsp;&nbsp; ] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p align="left"><font size="2">[&nbsp;&nbsp; ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<p align="center">&nbsp;</p>
<p align="center">1</p>
<hr SIZE="1"><div style="page-break-before:always"></div>
<p>
<b>Item 1.01 Entry into a Material Definitive Agreement</b><br>
<br>
Kimball International, Inc.
(the &quot;Company&quot;) entered into agreements to sell undeveloped land holdings and
timberlands which approximate 27,200 acres. The sale was conducted utilizing an
auction approach. The auctions began on November 6, 2008, and negotiations
concluded on November 13, 2008. These agreements are with numerous buyers, and the combined purchase price for all buyers was
$50.6 million for the entire acreage. These agreements are not contingent upon the buyers
obtaining financing. The final closings are expected to be complete by January
31, 2009. </p>
<p>
This summary is not intended to be complete and is qualified in its entirety by reference to
the Contract to Purchase Real Estate at Public Auction included as Exhibit 10.1
to this report and incorporated herein by reference.</p>
<p>
<b>Item 8.01 Other Events</b></p>
<p>
Based on the total purchase price of $50.6 million, the Company expects to record a pre-tax gain of approximately $30 million
net of applicable selling and other expenses including the buyer's premium
primarily during its fiscal year 2009
third quarter. </p>
<p>
<b>Item 9.01 Financial Statements and Exhibits</b></p>
<p>
<b>(d) Exhibits<i><br>
</i></b><br>
The following exhibit is filed as part of this report:</p>
<table border="0" width="62%" cellspacing="0" cellpadding="0" id="table2">
	<tr>
		<td width="54">Exhibit</td>
		<td>&nbsp;</td>
		<td width="712">&nbsp;</td>
	</tr>
	<tr>
		<td width="54"><u>Number</u></td>
		<td>&nbsp;</td>
		<td width="712"> <u>Description</u></td>
	</tr>
	<tr>
		<td width="54">10.1</td>
		<td>&nbsp;</td>
		<td width="712">Contract to Purchase Real Estate at Public Auction</td>
	</tr>
</table>
<p align="center">
2</p>
<hr SIZE="1"><div style="page-break-before:always"></div><center>
<p><b>SIGNATURES</b></p>
</center>
<p>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. </p>
<div align="right">
  <table cellSpacing="0" border="0" cellpadding="0">
    <tr>
      <td width="30">&nbsp;</td>
      <td width="300">&nbsp;</td>
    </tr>
    <tr>
      <td width="30">&nbsp;</td>
      <td width="300">KIMBALL INTERNATIONAL, INC.</td>
    </tr>
    <tr>
      <td width="30">&nbsp;</td>
      <td width="300">&nbsp;</td>
    </tr>
    <tr>
      <td width="30">&nbsp;</td>
      <td width="300">&nbsp;</td>
    </tr>
    <tr>
      <td width="30">
      <p align="center">By:</td>
      <td width="300" style="border-bottom: 1.0pt solid windowtext">/s/ Robert F. Schneider</td>
    </tr>
    <tr>
      <td width="30">&nbsp;</td>
      <td width="300">ROBERT F. SCHNEIDER<br>
      Executive Vice President, <br>
      Chief Financial Officer</td>
    </tr>
  </table>
</div>
<p><br>
Date: November 14, 2008</p>
<p align="center">3</p>
<hr size="1"><div style="page-break-before:always"></div>

<p align="center">
<b>EXHIBIT INDEX</b></p>
<table border="0" width="61%" cellspacing="0" cellpadding="0" id="table3">
	<tr>
		<td width="54">Exhibit</td>
		<td>&nbsp;</td>
		<td width="698">&nbsp;</td>
	</tr>
	<tr>
		<td width="54"><u>Number</u></td>
		<td>&nbsp;</td>
		<td width="698"> <u>Description</u></td>
	</tr>
	<tr>
		<td width="54">10.1</td>
		<td>&nbsp;</td>
		<td width="698">Contract to Purchase Real Estate at Public Auction</td>
	</tr>
</table>
<p align="center">4</p>
<hr size="1">

</body>

</html>
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{"company-data": {"conformed-name": "KIMBALL INTERNATIONAL INC", "cik": "0000055772", "assigned-sic": "2520", "irs-number": "350514506", "state-of-incorporation": "IN", "fiscal-year-end": "0630"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-03279", "film-number": "081187180"}, "business-address": {"street1": "1600 ROYAL ST", "city": "JASPER", "state": "IN", "zip": "47549", "phone": "8124821600"}, "mail-address": {"street1": "1600 ROYAL STREET", "city": "JASPER", "state": "IN", "zip": "47549"}, "former-company": {"former-conformed-name": "JASPER CORP", "date-changed": "19740826"}}
UNITED STATES
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)
November
14,
2008
KIMBALL INTERNATIONAL, INC.
(Exact name of registrant as specified in
    its charter)
Indiana
0-3279
35-0514506
(State or other jurisdiction of
(Commission File
(IRS Employer Identification No.)
incorporation)
Number)
1600 Royal Street, Jasper, Indiana
47549-1001
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(812)
482-1600
Not Applicable
(Former name or former address, if changed
    since last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2.
below):
[   ] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
[   ] Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ] Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
1
Item 1.01 Entry into a Material Definitive Agreement
Kimball International, Inc.
(the "Company") entered into agreements to sell undeveloped land holdings and
timberlands which approximate 27,200 acres. The sale was conducted utilizing an
auction approach. The auctions began on November 6, 2008, and negotiations
concluded on November 13, 2008. These agreements are with numerous buyers, and the combined purchase price for all buyers was
$50.6 million for the entire acreage. These agreements are not contingent upon the buyers
obtaining financing. The final closings are expected to be complete by January
31, 2009.
This summary is not intended to be complete and is qualified in its entirety by reference to
the Contract to Purchase Real Estate at Public Auction included as Exhibit 10.1
to this report and incorporated herein by reference.
Item 8.01 Other Events
Based on the total purchase price of $50.6 million, the Company expects to record a pre-tax gain of approximately $30 million
net of applicable selling and other expenses including the buyer's premium
primarily during its fiscal year 2009
third quarter.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibit is filed as part of this report:
Exhibit
Number
Description
10.1
Contract to Purchase Real Estate at Public Auction
2
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.
KIMBALL INTERNATIONAL, INC.
By:
/s/ Robert F. Schneider
ROBERT F. SCHNEIDER
Executive Vice President,
Chief Financial Officer
Date: November 14, 2008
3
EXHIBIT INDEX
Exhibit
Number
Description
10.1
Contract to Purchase Real Estate at Public Auction
4