CADIZ INC — Director's Dealing 2006

Oct 3, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2006-09-29

Reporting Person: ING GROEP NV (10% Owner)
Reporting Person: ING CAPITAL LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-29	Common Stock	S	16032	$19.6437	Disposed	1323783	Indirect

Footnotes

F1: ING Groep N.V. sold 16,032 shares at a price of $19.6437 a share, which equals a gross aggregate consideration of $314,928.

F2: ING Groep N.V. is the indirect parent company if ING Capital LLC through a chain of wholly-owned subsidiaries.