<SEC-DOCUMENT>0001136854-05-000006.txt : 20120628
<SEC-HEADER>0001136854-05-000006.hdr.sgml : 20120628
<ACCEPTANCE-DATETIME>20050114142634
ACCESSION NUMBER:		0001136854-05-000006
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20050114
DATE AS OF CHANGE:		20050114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HERLEY INDUSTRIES INC /NEW
		CENTRAL INDEX KEY:			0000047035
		STANDARD INDUSTRIAL CLASSIFICATION:	SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
		IRS NUMBER:				232413500
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-34884
		FILM NUMBER:		05530304

	BUSINESS ADDRESS:	
		STREET 1:		101 NORTH POINTE BOULEVARD
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17601-4133
		BUSINESS PHONE:		7177358117

	MAIL ADDRESS:	
		STREET 1:		101 NORTH POINTE BOULEVARD
		CITY:			LANCASTER
		STATE:			PA
		ZIP:			17601-4133

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HERLEY MICROWAVE SYSTEMS INC
		DATE OF NAME CHANGE:	19900510

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HERLEY INDUSTRIES INC
		DATE OF NAME CHANGE:	19831103

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LOTSOFF CAPITAL MANAGEMENT
		CENTRAL INDEX KEY:			0001136854
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		C/O LOTSOFF CAPITAL MANAGEMENT
		STREET 2:		20 N CLARK ST. 34TH FL
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602-4109
		BUSINESS PHONE:		3123681442

	MAIL ADDRESS:	
		STREET 1:		C/O LOTSOFF CAPITAL MANAGEMENT
		STREET 2:		20 N CLARK ST. 34TH FL
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602-4109
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>holdinglimitfilehrly.txt
<TEXT>
                        SECURITIES AND EXCHANGE COMMISSION
"                              Washington, D.C. 20549 "

                                    SCHEDULE 13G
                       Under the Securities Exchange Act of 1934
                                  Amendment No. ___)*


                              Herley Industries Inc
                  ---------------------------------------------------
                                    (Name of Issuer)


                                    Common Stock
                  ---------------------------------------------------
                            (Title of Class of Securities)

427398102

                  ---------------------------------------------------
                         (CUSIP Number of Class of Securities)


                              Lotsoff Capital Management
                                 20 North Clark Street
                                     34th Floor
"                                  Chicago, IL 60602"
                  ---------------------------------------------------
"          (Name, Address and Telephone Number of Person Authorized to Receive "
                              Notices and Communications)


"                                  December 31, 2004"
                  ---------------------------------------------------
                 (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[X]	Rule 13d-1(b)
[ ]	Rule 13d-1(c)
[ ]	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject
"class of securities, and for any subsequent amendment containing "
information which would alter disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
"deemed to be ""filed"" for the purpose of Section 18 of the Securities "
"Exchange Act of 1934 (""Act"") or otherwise subject to the liabilities of "
that section of the Act but shall be subject to all other provisions of the
"Act (however, see the Notes). "

SCHEDULE 13G
(Amendment No. ___)

CUSIP No. 427398102

---------------------------------------------------------------
1.  Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)

Lotsoff Capital Management
36-3250722
---------------------------------------------------------------

2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
---------------------------------------------------------------

3.  SEC Use Only


---------------------------------------------------------------

4.  Citizenship or Place of Organization

United States
---------------------------------------------------------------

NUMBER OF                     5. Sole Voting Power
"SHARES                               300,152"
BENEFICIALLY                  ---------------------------------
OWNED BY                      6. Shared Voting Power
"EACH                                496,831"
REPORTING                     ---------------------------------
PERSON                        7. Sole Dispositive Power
"WITH                                796,983"
                              ---------------------------------
                              8. Shared Dispositive Power
                                    -0-
---------------------------------------------------------------

9.  Aggregate Amount Beneficially Owned by Each Reporting Person

"796,983"
---------------------------------------------------------------

10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
[ ]
---------------------------------------------------------------

11. Percent of Class Represented by Amount in Row (9)

5.57%
---------------------------------------------------------------

12. Type of Reporting Person

IA
---------------------------------------------------------------


-1
"Calculated based on 14,314,657 shares of Herley Industries Inc's"
"Common Stock outstanding as of December 6, 2004, as reported in its "
"quarterly report on Form 10-Q for the quarter ended October 31, 2004 "
and filed with the Securities and Exchange Commission on
"December 9, 2004."


Item 1.

     (a) Name of Issuer:
         Herley Industries Inc

     (b) Address of Issuer's Principal Executive Offices:
         101 North Pointe Boulevard
"         Lancaster, Pennsylvania  17601"


Item 2.

     (a) Name of Person Filing:
         Lotsoff Capital Management

"     (b) Address of Principal Business Office or, if none, Residence:"
         20 North Clark Street
         34th Floor
"         Chicago, IL 60602"

     (c) Citizenship:
         United States

     (d) Title of Class of Securities:
         Common Stock

     (e) Cusip Number:
427398102


Item 3.  If this statement is filed pursuant to Rule 13d-1(b) or
"13d-2(b) or (c), check whether the person filing is a: "

(a) [ ] Broker or dealer registered under section 15 of the Act
        (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
        (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment
        Company Act of 1940 (15 U.S.C. 80a-8)

(e) [X] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with
        240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with
        240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings association as defined in Section 3(b) of the Federal
        Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an
        investment company under section 3(c)(14) of the Investment
        Company Act of 1940 (15 U.S.C. 80a-3);

"(j) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(J)"


Item 4. Ownership

     (a) Amount Beneficially owned:
"796,983"

     (b) Percent of Class
5.57%

     (c) Number of Shares as to which the person has:
         (i) Sole power to vote or to direct vote:
"300,152"

         (ii) Shared power to vote or to direct the vote:
"496,831"

         (iii) Sole power to dispose or to direct the disposition of:
"796,983"

         (iv) Shared power to dispose or to direct the disposition of:
                       -0-


Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
"of more than five percent of the class of securities, check the "
following: [ ]

Item 6. Ownership of More Than Five Percent on Behalf of Another Person
"        Yes, 100 percent of the holding is client invested on a "
        discretionary basis.

Item 7. Identification and Classification of the Subsidiary Which Acquired
        the Security Being Reported on by the Parent Holding Company
        Not applicable.

Item 8. Identification and Classification of Members of the Group
        Not applicable.

Item 9. Notice of Dissolution of Group
        Not applicable.


Item 10. Certification
"By signing below I certify that, to the best of my knowledge and belief, "
the securities referred to above were acquired and are held in the
ordinary course of business and were not acquired and are not held
for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any
transaction having that purpose or effect.

SIGNATURE
"After reasonable inquiry and to the best of my knowledge and belief,"
"I certify that the information set forth in this statement is true,"
complete and correct.


"Date: January 14, 2005"
/s/ Richard DeMatteo

Richard DeMatteo

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>