CSP INC /MA/ — Director's Dealing 2007

May 2, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CSP INC /MA/ (CSPI)
CIK: 0000356037
Period of Report: 2007-05-01

Reporting Person: Lupinetti Alexander R (CEO/President/Chairman Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-01	Common Stock	I	2506	$7.225	Acquired	37907	Direct

Footnotes

F1: Purchase stock through Employee Stock Purchase Plan