MDU RESOURCES GROUP INC - Director's Dealing 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MDU RESOURCES GROUP INC (MDU)
CIK: 0000067716
Period of Report: 2003-08-21

Reporting Person: TIPTON RONALD D (CEO - Montana-Dakota Utilities)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-21	Common Stock	M	49125	$21.125	Acquired	83322	Direct
2003-08-21	Common Stock	S	700	$33.48	Disposed	82622	Direct
2003-08-21	Common Stock	S	14000	$33.26	Disposed	68622	Direct
2003-08-21	Common Stock	S	300	$33.41	Disposed	68322	Direct
2003-08-21	Common Stock	S	100	$33.47	Disposed	68222	Direct
2003-08-21	Common Stock	S	400	$33.44	Disposed	67822	Direct
2003-08-21	Common Stock	S	4600	$33.35	Disposed	63222	Direct
2003-08-21	Common Stock	S	500	$33.42	Disposed	62722	Direct
2003-08-21	Common Stock	S	600	$33.49	Disposed	62122	Direct
2003-08-21	Common Stock	S	4400	$33.3	Disposed	57722	Direct
2003-08-21	Common Stock	S	13900	$33.43	Disposed	43822	Direct
2003-08-21	Common Stock	S	4500	$33.4	Disposed	39322	Direct
2003-08-21	Common Stock	S	4825	$33.45	Disposed	34497	Direct
2003-08-21	Common Stock	S	300	$33.46	Disposed	34197	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-21	Empl.Stock Opt.(Right to Buy)	$21.125	M	49125	Disposed	2008-02-10	Common Stock (49125)	Direct

Security	Shares	Ownership
Common Stock-Restricted Stock	9800	Indirect
Common Stock - (401-k)	24217.923	Indirect
Common Stock - (ESOP)	253.072	Indirect

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Empl.Stock Opt.(Right to Buy)	$29.74	2011-02-15	Common Stock (72000)	72000	Direct

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