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PURE CYCLE CORP Director's Dealing 2005

Oct 17, 2005

33442_dirs_2005-10-17_91d0c71d-4727-4725-8b5e-81962d8eb0bd.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PURE CYCLE CORP (PCYO)
CIK: 0000276720
Period of Report: 2005-10-13

Reporting Person: PAR INVESTMENT PARTNERS LP (10% Owner)
Reporting Person: PAR Group, L.P. (10% Owner)
Reporting Person: PAR CAPITAL MANAGEMENT INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-10-13	Pure Cycle Corp	P	2063	$6.014	Acquired	1574105	Direct
2005-10-14	Pure Cycle Corp	P	1080	$6.029	Acquired	1575174	Direct