ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2006

May 23, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2006-05-22

Reporting Person: ONEIL DAVID A (Treasurer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-05-19	Stock Option	$17.8	A	2000	Acquired	2016-05-19	Common Stock (2000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - $.33 1/3 par value	4836	Indirect
Common Stock - $.33 1/3 par value	4800	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$9.925	2012-03-01	Common Stock (1600)	0	Direct
Stock Option	$9.25	2013-03-04	Common Stock (1600)	0	Direct
Stock Option	$11.25	2014-08-20	Common Stock (1600)	0	Direct
Stock Option	$17.36	2015-10-13	Common Stock (1600)	0	Direct