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: 2006-10-04

Reporting Person: GRACE BROTHERS LTD (10% Owner)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-04	Common Stock	P	1534	$10.51	Acquired	3782386	Direct
2006-10-04	Common Stock	P	103	$10.52	Acquired	3782489	Direct
2006-10-04	Common Stock	P	1395	$10.53	Acquired	3783884	Direct
2006-10-04	Common Stock	P	4376	$10.54	Acquired	3788260	Direct
2006-10-04	Common Stock	P	1400	$10.55	Acquired	3789660	Direct
2006-10-04	Common Stock	P	1000	$10.56	Acquired	3790660	Direct
2006-10-04	Common Stock	P	200	$10.61	Acquired	3790860	Direct
2006-10-04	Common Stock	P	300	$10.62	Acquired	3791160	Direct
2006-10-04	Common Stock	P	300	$10.63	Acquired	3791460	Direct
2006-10-04	Common Stock	P	100	$10.64	Acquired	3791560	Direct
2006-10-04	Common Stock	P	1204	$10.65	Acquired	3792764	Direct
2006-10-04	Common Stock	P	500	$10.66	Acquired	3793264	Direct
2006-10-04	Common Stock	P	200	$10.67	Acquired	3793464	Direct
2006-10-04	Common Stock	P	500	$10.68	Acquired	3793964	Direct