ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2008

May 28, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2008-05-27

Reporting Person: SASLOW SEYMOUR (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-05-23	Stock Option	$21.54	A	1000	Acquired	2018-05-23	Common Stock (1000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - $.33 1/3 par value	11516	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$17.36	2015-10-13	Common Stock (500)	0	Direct
Stock Option	$17.80	2016-05-19	Common Stock (1000)	0	Direct
Stock Option	$18.29	2017-02-21	Common Stock (1000)	0	Direct