MDU RESOURCES GROUP INC — Director's Dealing 2003

Aug 27, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MDU RESOURCES GROUP INC (MDU)
CIK: 0000067716
Period of Report: 2003-07-18

Reporting Person: WOOD ROBERT E (VP, Public Affairs & Env.Pol.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-18	Common Stock	G	200	—	Disposed	1380	Direct
2003-08-27	Common Stock	M	5160	$21.125	Acquired	6540	Direct
2003-08-27	Common Stock	S	5160	$33.95	Disposed	1380	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-27	Empl.Stock Opt.(Right to Buy)	$21.125	M	5160	Disposed	2008-02-10	Common Stock (5160)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock-Restricted Stock	3400	Indirect
Common Stock - (401-k)	5332.359	Indirect
Common Stock - (ESOP)	4924.71	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Empl.Stock Opt.(Right to Buy)	$29.74	2011-02-15	Common Stock (20800)	20800	Direct

Footnotes

F1: These options were originally exercisable 2/10/07, but vesting was accelerated to 2/17/01 upon attainment of certain performance goals.