RAND CAPITAL CORP — Director's Dealing 2007

Jan 8, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RAND CAPITAL CORP (RAND)
CIK: 0000081955
Period of Report: 2007-01-03

Reporting Person: NEWMAN REGINALD B II (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-03	Common Stock	G	35000	—	Disposed	450579	Direct

Footnotes

F1: Transaction voluntarily reported earlier than required