ARTESIAN RESOURCES CORP — Director's Dealing 2005

Jan 25, 2005

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: ARTESIAN RESOURCES CORP (ARTNA)
CIK: 0000863110
Period of Report: 2004-12-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-20	Class A Non-Voting Common Stock	J	11	$28.272	Acquired	10896	Direct
2004-05-21	Class A Non-Voting Common Stock	J	11	$26.406	Acquired	11107	Direct
2004-08-20	Class A Non-Voting Common Stock	J	12	$25.066	Acquired	11119	Direct
2004-11-22	Class A Non-Voting Common Stock	J	11	$28.8	Acquired	11330	Direct
2004-12-31	Class A Non-Voting Common Stock	J	226	—	Acquired	1508	Indirect

Footnotes

F1: aquisition through dividend reinvestment plan

F2: Reporting balance of Artesian stock held in 401K plan which was acquired through employee payroll deferrals