ENERPAC TOOL GROUP CORP — Director's Dealing 2004

Mar 26, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACTUANT CORP (ATU)
CIK: 0000006955
Period of Report: 2004-03-25

Reporting Person: KERK ARTHUR (VP-Eng. Soln. Europe Asia)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-25	Class A Common Stock	M	2200	$9.295	Acquired	2309	Direct
2004-03-25	Class A Common Stock	S	2200	$38.027	Disposed	109	Direct
2004-03-25	Class A Common Stock	M	8000	$13.138	Acquired	8109	Direct
2004-03-25	Class A Common Stock	S	8000	$38.027	Disposed	109	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-25	Employee Stock Option (Right to buy)	$9.295	M	2200	Acquired	2010-08-09	Class A Common Stock (2200)	Direct
2004-03-25	Employee Stock Option (Right to buy)	$13.138	M	8000	Acquired	2011-10-24	Class A Common Stock (8000)	Direct

Footnotes

F1: Includes shares held in Employee Stock Purchase Plan.

F2: Option granted under the Actuant Corporation Stock Plan.

F3: Fifty percent of the option became exercisable on 08/09/02 and the balance becomes exercisable on 08/09/05.

F4: Fifty percent of the option became exercisable on 10/24/03 and the balance becomes exercisable on 10/24/06.