ARGAN INC — Director's Dealing 2007

Nov 6, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGAX)
CIK: 0000100591
Period of Report: 2007-10-29

Reporting Person: SCOTT RICHARD L (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-10-29	Common Stock	P	200000	$9.50	Acquired	1550000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-10-29	Stock Option (right to buy)	$12.50	P	200000	Acquired	2008-10-18	Common Stock (200000)	Indirect
2007-10-29	Stock Option (right to buy)	$15.00	P	200000	Acquired	2009-10-18	Common Stock (200000)	Indirect

Footnotes

F1: Purchased pursuant to two separate purchase agreements with two separate private sellers (100,000 each).

F2: This figure only includes options with an exercise price of $12.50.

F3: This figure only includes options with an exercise price of $15.00.