ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2003

Sep 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2003-09-08

Reporting Person: SABO ALVIN O (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-08	Common Stock - $.33 1/3 par value	M	200	$13.25	Acquired	200	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-08	Stock Option	$13.25	M	200	Disposed	2010-03-01	Common Stock (200)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$17.95	2011-03-01	Common Stock (400)	0	Direct
Stock Option	$19.85	2012-03-01	Common Stock (500)	0	Direct
Stock Option	$18.50	2013-03-04	Common Stock (500)	1400	Direct