ULTRALIFE CORP — Director's Dealing 2006

Sep 26, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE BATTERIES INC (ULBI)
CIK: 0000875657
Period of Report: 2006-09-22

Reporting Person: GRACE BROTHERS LTD (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-09-22	Common Stock	P	100	$8.9	Acquired	3315582	Direct
2006-09-22	Common Stock	P	100	$8.91	Acquired	3315682	Direct
2006-09-22	Common Stock	P	200	$8.92	Acquired	3315882	Direct
2006-09-22	Common Stock	P	5300	$8.94	Acquired	3321182	Direct
2006-09-22	Common Stock	P	200	$8.95	Acquired	3321382	Direct
2006-09-22	Common Stock	P	100	$8.99	Acquired	3321482	Direct
2006-09-22	Common Stock	P	5300	$9	Acquired	3326782	Direct
2006-09-22	Common Stock	P	200	$9.01	Acquired	3326982	Direct
2006-09-22	Common Stock	P	4100	$9.02	Acquired	3331082	Direct
2006-09-22	Common Stock	P	400	$9.03	Acquired	3331482	Direct
2006-09-22	Common Stock	P	100	$9.04	Acquired	3331582	Direct
2006-09-22	Common Stock	P	11509	$9.05	Acquired	3343091	Direct
2006-09-22	Common Stock	P	700	$9.06	Acquired	3343791	Direct
2006-09-22	Common Stock	P	200	$9.08	Acquired	3343991	Direct
2006-09-22	Common Stock	P	1897	$9.09	Acquired	3345888	Direct
2006-09-22	Common Stock	P	17880	$9.1	Acquired	3363768	Direct
2006-09-22	Common Stock	P	100	$9.11	Acquired	3363868	Direct
2006-09-22	Common Stock	P	397	$9.12	Acquired	3364265	Direct
2006-09-22	Common Stock	P	2000	$9.13	Acquired	3366265	Direct
2006-09-22	Common Stock	P	918	$9.14	Acquired	3367183	Direct
2006-09-22	Common Stock	P	5400	$9.15	Acquired	3372583	Direct
2006-09-22	Common Stock	P	1791	$9.16	Acquired	3374374	Direct
2006-09-22	Common Stock	P	400	$9.17	Acquired	3374774	Direct
2006-09-22	Common Stock	P	500	$9.18	Acquired	3375274	Direct
2006-09-22	Common Stock	P	2200	$9.19	Acquired	3377474	Direct
2006-09-22	Common Stock	P	43060	$9.2	Acquired	3420534	Direct
2006-09-22	Common Stock	P	1400	$9.22	Acquired	3421934	Direct
2006-09-22	Common Stock	P	600	$9.29	Acquired	3422534	Direct
2006-09-22	Common Stock	P	3877	$9.3	Acquired	3426411	Direct
2006-09-22	Common Stock	P	500	$9.31	Acquired	3426911	Direct