ARTESIAN RESOURCES CORP — Director's Dealing 2005

Jul 22, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARTESIAN RESOURCES CORP (ARTNA)
CIK: 0000863110
Period of Report: 2005-02-25

Reporting Person: KRAEUTER BRUCE P (VP of Engineering and Planning)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-02-25	Class A Non-Voting Common Stock	J	11	$27.208	Acquired	12191	Direct
2005-07-21	Class A Non-Voting Common Stock	X	200	$14	Acquired	12391	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-07-21	Incentive Stock Option (right to buy)	$14	X	200	Disposed	2009-05-18	Class A Non-Voting Common Stock (200)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Non-Voting Common Stock	1508	Indirect