ARGAN INC — Director's Dealing 2006

Apr 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGAX)
CIK: 0000100591
Period of Report: 2006-04-20

Reporting Person: TRUDEL ARTHUR F (Senior Vice President and CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-04-20	Options	$2.15	A	50000	Disposed	2016-04-19	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	10000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrants	$7.75	2012-12-31	Common Stock (60000)	60000	Direct