ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2003

Jul 30, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2003-06-30

Reporting Person: PINSLEY HOWARD M (President/CEO/Chairman of Brd.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-06-30	Common Stock - $.33 1/3 par value	J	1020	$18.35	Acquired	9502	Indirect
1998-08-08	Common Stock - $.33 1/3 par value	A	0	—	Acquired	43634	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2001-03-01	Stock Option	$17.95	A	0	Acquired	2011-03-01	Common Stock (2000)	Direct
2002-03-01	Stock Option	$19.85	A	0	Acquired	2012-03-01	Common Stock (2000)	Direct
2003-03-04	Stock Option	$18.50	A	0	Acquired	2013-03-04	Common Stock (2000)	Direct