SYPRIS SOLUTIONS INC — Director's Dealing 2006

May 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SYPRIS SOLUTIONS INC (SYPR)
CIK: 0000864240
Period of Report: 2006-04-27

Reporting Person: DAVIS RICHARD L (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-04-27	Common Stock	M	10000	$8.75	Acquired	77387	Direct
2006-04-27	Common Stock	F	9416	$9.68	Disposed	67971	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-04-27	Option (Right to buy)	$8.75	M	10000	Disposed	2006-04-28	Common Stock (10000)	Direct

Footnotes

F1: Option grant the only consideration of which was service as an employee.