CADIZ INC — Director's Dealing 2007

Jun 4, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CADIZ INC (CDZI)
CIK: 0000727273
Period of Report: 2007-05-31

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
2007-05-31	Common Stock	S	7160	$22.7229	Disposed	1311432	Indirect

Footnotes

F1: ING Groep N.V. sold 7,160 shares at a price of $22.7229 a share, which equals a gross aggregate consideration of $162,696.

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