CSP INC /MA/ — Director's Dealing 2005

Jan 27, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CSP INC /MA/ (CSPI)
CIK: 0000356037
Period of Report: 2005-01-26

Reporting Person: JAMES C SHELTON (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-01-26	Common Stock	J	1000	$3.65	Acquired	4900	Direct

Footnotes

F1: Exercise of stock options