ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2004

Mar 11, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2004-03-09

Reporting Person: POLIDORE TIMOTHY (Asst. Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-09	Common Stock	M	200	$19.85	Acquired	0	Direct
2004-03-09	Common Stock	S	200	$24.64	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-09	Stock Option	$19.85	M	0	Disposed	2012-03-01	Common Stock (0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	834	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$18.50	2013-03-04	Common Stock (200)	200	Direct