CADIZ INC — Director's Dealing 2006

Feb 6, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2006-02-02

Reporting Person: MORGAN STANLEY (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-02-02	Common Stock	S	400000	$19.49	Disposed	1102481	Direct

Footnotes

F1: This Form 4 is being filed by more than one reporting person. Morgan Stanley & Co. International Limited is a wholly owned
subsidiary of Morgan Stanley. All shares held directly by Morgan Stanley & Co. International Limited are held indirectly by
Morgan Stanley.

F2: Additional short swing profit liability resulting from the transaction reported in this Form 4 has been calculated as
$113,029.70 and has been disgorged to the issuer pursuant to section 16(b) of the Exchange Act of 1934.