ARGAN INC — Director's Dealing 2005

Feb 10, 2005

SEC Form 4/A — Form 4/A

Issuer: ARGAN INC (AGAX)
CIK: 0000100591
Period of Report: 2005-01-28

Reporting Person: LEVINSON DANIEL (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-28	Common Stock	P	129032	$7.75	Acquired	504616	Indirect

Footnotes

F1: Mr. Levinson may be deemed to beneficially own (i) 451,616 shares of Common Stock held by MSR I SBIC, L.P. (including the
129,032 shares of common stock purchased by MSR I SBIC, L.P. on January 28, 2005); (ii) 3,000 shares of common stock held by
Tri-Lev LLC; and (iii) 50,000 shares of common stock underlying warrants held by MSR Advisors, Inc.