PURE CYCLE CORP — Director's Dealing 2004

Jun 29, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PURE CYCLE CORP (pcyo)
CIK: 0000276720
Period of Report: 2004-06-29

Reporting Person: HANSSON MARGARET S (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-06-24	Common Stock	M	200000	$1.8	Acquired	224600	Direct
2004-06-24	Common Stock	S	200000	$9	Disposed	24600	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-06-24	Non-Statutory Stock Options	$1.8	M	200000	Disposed	2007-08-30	Common Stock (200000)	Direct