VERU INC. — Director's Dealing 2007

May 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FEMALE HEALTH CO (FHCO)
CIK: 0000863894
Period of Report: 2007-05-01

Reporting Person: DEARHOLT STEPHEN M (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-01	Common Stock, par value $.01 per share	S	100000	$2.27	Disposed	1509015	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.01 per share	26500	Indirect
Common Stock, par value $.01 per share	69500	Indirect
Common Stock, par value $.01 per share	275820	Indirect
Common Stock, par value $.01 per share	418100	Indirect

Footnotes

F1: Shares are held by the reporting person's self-directed IRA.

F2: Shares are held by a profit sharing plan, of which the reporting person is a beneficiary.

F3: Shares are held by a trust, of which the reporting person is a trustee.

F4: Shares are held by a trust, of which the reporting person is a trustee.