It really is an honor just to be nominated.

One peek inside the 2004 Oscar nominee swag bag — bestowed only upon the hopefuls in the four acting categories, as well as director and picture — and you can see why.

For the second year in a row, gift bag producers Distinctive Assets, a 5-year-old company also responsible for bagging the Grammys and Tonys, will soften the blow for losers by showering them with $40,000 worth of goods.

The “Caesars Palace Presents Everyone Wins at the Oscars” grab bag will be filled with freebies ranging from an all-expenses-paid trip to Caesars Palace in Sin City to complimentary laser eye surgery.

Distinctive Assets spent the last six months gathering the goods for the bag, which founder and prexy Lash Fary says is “worth twice as much.”

Centered on the $32,000 trip to Vegas is an assortment of items, from Havaianas gold-embellished flip-flops to round-trip tickets to anywhere Song Airways flies, to Crest Whitening Expressions toothpaste.

“As long as (the product) is useful and interesting, it can go in the bag,” Fary says.

Some 19 companies are contributing products so far. Others have until Feb. 23 to get into the bag.

Gifts will be delivered to nominees’ homes March 1.