Demonstratives (words like ‘this’ and ‘that’) and indexicals (words like ‘I’, ‘here’, and ‘now’) seem intuitively to form a semantic family. Together they form the basic set of directly referring ‘context sensitive’ terms whose reference changes as the environment or identity of the speaker changes. Something that we might expect of a semantics for indexicals is therefore that it would be closely related to a semantics of demonstratives, although recent approaches have generally treated them separately. A promising new theory of (...) indexicals is the ‘token-contextual’ account, which accounts for a wide range of uses of indexicals without encountering the problems faced by competing models. So far this theory has not been considered for demonstratives, however, but only for the indexicals ‘I’, ‘here’ and ‘now’. In this paper I show that the token-contextual account can be elegantly extended to cover demonstratives. Doing so restores unity to our understanding of a natural semantic family, and allows us to identify a single rule governing the most basic context-sensitive terms. (shrink)