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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001019973-09-000004.txt : 20091002
<SEC-HEADER>0001019973-09-000004.hdr.sgml : 20091002
<ACCEPTANCE-DATETIME>20091002095926
ACCESSION NUMBER:		0001019973-09-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091001
FILED AS OF DATE:		20091002
DATE AS OF CHANGE:		20091002

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HOVDE ERIC D
		CENTRAL INDEX KEY:			0001019973
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34167
		FILM NUMBER:		091100519

	MAIL ADDRESS:	
		STREET 1:		1826 JEFFERSON PLACE NW
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EPLUS INC
		CENTRAL INDEX KEY:			0001022408
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-COMPUTER & PERIPHERAL EQUIPMENT & SOFTWARE [5045]
		IRS NUMBER:				541817218
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413
		BUSINESS PHONE:		7039848400

	MAIL ADDRESS:	
		STREET 1:		13595 DULLES TECHNOLOGY DRIVE
		CITY:			HERNDON
		STATE:			VA
		ZIP:			20171-3413

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MLC HOLDINGS INC
		DATE OF NAME CHANGE:	19960906
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-10-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001022408</issuerCik>
        <issuerName>EPLUS INC</issuerName>
        <issuerTradingSymbol>PLUS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001019973</rptOwnerCik>
            <rptOwnerName>HOVDE ERIC D</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1826 JEFFERSON PLACE NW</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>WASHINGTON</rptOwnerCity>
            <rptOwnerState>DC</rptOwnerState>
            <rptOwnerZipCode>20036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-10-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>569</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1286496</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnotes 3 and 4</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On October 1, 2009, Mr. Hovde, a director of ePlus, Inc. (the &quot;Company&quot;) was granted a restricted stock award consisting of 569 shares of common stock of the Company (the &quot;Restricted Shares&quot;). The Restricted Shares were granted pursuant to the Company's 2008 Non-Employee Director Long Term Incentive Plan (the &quot;Plan&quot;) and are subject to a Restriction Period beginning on the grant date and ending on the first anniversary of the grant for one-half of the Restricted Shares, and ending on the second anniversary of the grant for the remaining one half of the Restricted Shares (the &quot;Restriction Period&quot;). As more fully described in the Plan, under certain other circumstances the restrictions may lapse, or the shares may be forfeited and transferred back to the Company.</footnote>
        <footnote id="F2">As of the date hereof, including the transaction reported herein, Eric D. Hovde (&quot;EDH&quot;) is the beneficial owner (within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended) of 1,286,496 shares of common stock of ePlus, Inc. (the &quot;Shares&quot;). The beneficial ownership of these Shares is more fully set out in the following footnotes 3 and 4.</footnote>
        <footnote id="F3">EDH owns 39,154 Shares directly; EDH is the managing member (MM) of Hovde Capital, L.L.C., the general partner to Financial Institution Partners II, L.P., which owns 328,719 Shares; EDH is the MM of Hovde Capital Limited IV LLC, the general partner to Financial Institution Partners IV, L.P., which owns 25,511 Shares; EDH is the MM of Hovde Capital, Ltd., the general partner to Financial Institution Partners III, L.P., which owns 118,361 Shares; EDH is the MM of Hovde Capital I, LLC, the general partner to Financial Institution Partners Master Fund, L.P., which owns 704,486 Shares;(continued in Footnote 4)</footnote>
        <footnote id="F4">EDH is the MM of Hovde Acquisition II, L.L.C., which owns 30,000 Shares; EDH is the trustee to The Hovde Financial, Inc. Profit Sharing Plan and Trust, which owns 19,000 Shares; and EDH is the trustee to The Eric D. and Steven D. Hovde Foundation, which owns 21,265 Shares.</footnote>
    </footnotes>

    <remarks>Effective, October 1, 2009, Financial Institution Partners LP (&quot;FIPLP&quot;) and Financial Institution Partners,Ltd. (&quot;FIPLTD&quot;), which were previously reported as holding Shares of the Company, were restructured as feeder funds in a master-feeder structure by contributing their net assets to Financial Institution Partners Master Fund, L.P. (the &quot;Master Fund&quot;). Accordingly, the Master Fund owns all of the Shares previously reported by FIPLP and FIPLTD, respectively, as reported in Footnote 3.</remarks>

    <ownerSignature>
        <signatureName>Eric D. Hovde</signatureName>
        <signatureDate>2009-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
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</SEC-DOCUMENT>
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