ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2003

Nov 7, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2003-11-05

Reporting Person: PINSLEY HOWARD M (President/CEO, Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-05	Common Stock - $.33 1/3 par value	S	1000	$24.31	Disposed	42634	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - $.33 1/3 par value	9502	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$17.95	2011-03-01	Common Stock (2000)	0	Direct
Stock Option	$19.85	2012-03-01	Common Stock (2000)	0	Direct
Stock Option	$18.50	2013-03-04	Common Stock (2000)	6000	Direct