CADIZ INC — Director's Dealing 2006

Apr 28, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2006-04-26

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
2006-04-26	Common Stock	S	1200	$17.9758	Disposed	1397771	Indirect

Footnotes

F1: ING Groep N.V. sold 1,200 shares at a price of $17.9758 a share, which equals a gross aggregate consideration of $21,571.

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