CSP INC /MA/ — Director's Dealing 2010

May 4, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CSP INC /MA/ (CSPI)
CIK: 0000356037
Period of Report: 2010-04-30

Reporting Person: Dellovo Victor (Pres of Sys & Sol MODCOMP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-04-30	Common Stock	I	2927	$2.941	Acquired	16734	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option Right to Buy	$2.7	2013-05-29	Common Stock (35000)	35000	Direct
Stock Option Right to Buy	$10.03	2014-12-29	Common Stock (5000)	5000	Direct
Stock Option Right to Buy	$6.5	2016-01-16	Common Stock (2000)	2000	Direct
Stock Option Right to Buy	$9.3	2017-02-20	Common Stock (1000)	1000	Direct
Stock Option Right to Buy	$6.82	2017-12-12	Common Stock (2000)	2000	Direct
Stock Option Right to Buy	$2.99	2018-12-18	Common Stock (2000)	2000	Direct

Footnotes

F1: Purchased stock thru employee stock purchase plan.