ULTRALIFE CORP - Director's Dealing 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE BATTERIES INC (ULBI)
CIK: 0000875657
Period of Report: 2006-12-01

Reporting Person: GRACE BROTHERS LTD (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-01	Common Stock	P	24748	$10.2	Acquired	4119750	Direct
2006-12-01	Common Stock	P	413	$10.21	Acquired	4120163	Direct
2006-12-01	Common Stock	P	4764	$10.22	Acquired	4124927	Direct
2006-12-01	Common Stock	P	100	$10.23	Acquired	4125027	Direct
2006-12-01	Common Stock	P	1000	$10.24	Acquired	4126027	Direct
2006-12-01	Common Stock	P	600	$10.25	Acquired	4126627	Direct
2006-12-01	Common Stock	P	533	$10.26	Acquired	4127160	Direct
2006-12-01	Common Stock	P	100	$10.27	Acquired	4127260	Direct
2006-12-01	Common Stock	P	16457	$10.28	Acquired	4143717	Direct
2006-12-01	Common Stock	P	2525	$10.29	Acquired	4146242	Direct
2006-12-01	Common Stock	P	9800	$10.2996	Acquired	4156042	Direct
2006-12-01	Common Stock	P	9200	$10.2997	Acquired	4165242	Direct
2006-12-01	Common Stock	P	9800	$10.2998	Acquired	4175042	Direct
2006-12-01	Common Stock	P	212281	$10.3	Acquired	4387323	Direct
2006-12-01	Common Stock	P	200	$10.31	Acquired	4387523	Direct
2006-12-01	Common Stock	P	9800	$10.3188	Acquired	4397323	Direct
2006-12-01	Common Stock	P	400	$10.32	Acquired	4397723	Direct
2006-12-01	Common Stock	P	200	$10.325	Acquired	4397923	Direct
2006-12-01	Common Stock	P	6919	$10.34	Acquired	4404842	Direct
2006-12-01	Common Stock	P	13700	$10.35	Acquired	4418542	Direct
2006-12-01	Common Stock	P	1000	$10.39	Acquired	4419542	Direct