ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2007

Sep 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2007-09-20

Reporting Person: HELMETAG CARL (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-09-20	Common Stock - $.33 1/3 par value	M	800	$9.25	Acquired	7800	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-09-20	Stock Option	$9.25	M	800	Disposed	2013-03-04	Common Stock (0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - $.33 1/3 par value	1500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$9.925	2012-03-01	Common Stock (800)	0	Direct
Stock Option	$11.25	2014-08-20	Common Stock (800)	0	Direct
Stock Option	$17.36	2015-10-13	Common Stock (1400)	0	Direct
Stock Option	$17.80	2016-05-19	Common Stock (1400)	0	Direct
Stock Option	$18.29	2017-02-21	Common Stock (1400)	5800	Direct

Footnotes

F1: SEP IRA Account