ESPEY MFG & ELECTRONICS CORP — Director's Dealing 2008

Feb 25, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ESPEY MFG & ELECTRONICS CORP (ESP)
CIK: 0000033533
Period of Report: 2008-02-22

Reporting Person: PINSLEY BARRY (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-02-22	Common Stock - $.33 1/3 par value	M	1400	$17.36	Acquired	56260	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-02-22	Stock Option	$17.36	M	1400	Disposed	2015-10-13	Common Stock (0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock - $.33 1/3 par value	0	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$17.8	2016-05-19	Common Stock (1400)	0	Direct
Stock Option	$18.29	2017-02-21	Common Stock (1400)	2800	Direct

Footnotes

F1: Reflects ESOP dispositions that have occurred since the date of the reporting person's last ownership report.