AIR T INC — Director's Dealing 2004

Nov 19, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AIR T INC (AIRT)
CIK: 0000353184
Period of Report: 2004-11-17

Reporting Person: Clark Walter (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-17	common stock	S	9900	$23	Disposed	197100	Indirect
2004-11-17	common stock	S	5000	$23.25	Disposed	192100	Indirect
2004-11-17	common stock	S	1900	$23.36	Disposed	190200	Indirect
2004-11-17	common stock	S	200	$23.37	Disposed	190000	Indirect
2004-11-17	common stock	S	3900	$23.4	Disposed	186100	Indirect
2004-11-17	common stock	S	5900	$23.45	Disposed	180200	Indirect
2004-11-17	common stock	S	10796	$23.5	Disposed	169404	Indirect
2004-11-17	common stock	S	5000	$23.53	Disposed	164404	Indirect
2004-11-17	common stock	S	700	$23.57	Disposed	163704	Indirect
2004-11-17	common stock	S	600	$23.58	Disposed	163104	Indirect
2004-11-17	common stock	S	6100	$23.6	Disposed	157004	Indirect
2004-11-17	common stock	S	4	$23.63	Disposed	157000	Indirect
2004-11-17	common stock	S	4500	$23.64	Disposed	152500	Indirect
2004-11-17	common stock	S	450	$23.66	Disposed	152050	Indirect
2004-11-17	common stock	S	5000	$23.67	Disposed	147050	Indirect
2004-11-17	common stock	S	400	$23.7	Disposed	146650	Indirect
2004-11-17	common stock	S	2600	$23.75	Disposed	144050	Indirect
2004-11-17	common stock	S	5500	$23.76	Disposed	138550	Indirect
2004-11-17	common stock	S	100	$23.83	Disposed	138450	Indirect
2004-11-17	common stock	S	4400	$23.84	Disposed	134050	Indirect
2004-11-17	common stock	S	10000	$24	Disposed	124050	Indirect
2004-11-17	common stock	S	500	$24.15	Disposed	123550	Indirect
2004-11-17	common stock	S	600	$24.5	Disposed	122950	Indirect
2004-11-17	common stock	S	5000	$24.78	Disposed	117950	Indirect
2004-11-17	common stock	S	2000	$24.8	Disposed	115950	Indirect
2004-11-17	common stock	S	5000	$24.88	Disposed	110950	Indirect
2004-11-17	common stock	S	50	$24.9	Disposed	110900	Indirect
2004-11-17	common stock	S	4900	$25	Disposed	106000	Indirect
2004-11-17	common stock	S	1000	$25.5	Disposed	105000	Indirect
2004-11-17	common stock	S	0	—	Disposed	60922	Direct

Footnotes

F1: The reported sales transactions were effected by the Estate of David Clark, of which Walter Clark is an executor and beneficiary.