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PURE CYCLE CORP Director's Dealing 2005

May 13, 2005

33442_dirs_2005-05-13_9db3be61-d8eb-4863-8cc1-6640b2445c6d.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: 2005-04-29

Reporting Person: CLARK THOMAS P (Director, 10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2005-04-29 Common Stock J 2049705 Disposed 219500 Direct
2005-04-29 Common Stock J 2049705 Acquired 2049705 Indirect

Footnotes

F1: See Exhibit 99.1 attached hereto for an explanation of the transactions and beneficial ownership by reporting person.