UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K

                                 Current Report

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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       Date of Report (Date of earliest event reported) November 13, 2003.


                          ESPEY MFG & ELECTRONICS CORP.
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             (Exact name of registrant as specified in its charter)

New York                                1-4383                   14-1387171
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(State or other jurisdiction    (Commission File Number)      (I.R.S. Employer
 of incorporation)                                          Identification  No.)

              233 Ballston Avenue, Saratoga Springs, New York 12866
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               (Address of principal executive offices) (Zip Code)



      (Registrant's telephone number, including area code): (518) 584-4100
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                ITEM 5. Other Events and Regulation FD Disclosure

On November 14, 2003, Espey Mfg. & Electronics Corp. (the "Company") issued
a press release announcing the results of the Company's annual shareholders
meeting (the "Annual Meeting"), which was held on November 13, 2003 in
Saratoga Springs, New York.  As indicated in the press release, a proposal
was made by a shareholder at the Annual Meeting to remove Directors Michael
W. Wool, Paul J. Corr and William P. Greene from the Company's Board of
Directors without cause, by separate votes.  The Company's shareholders
voted in favor of the removal of Mr. Michael W. Wool and Mr. Paul J. Corr
from the Company's Board of Directors and against the removal of Mr. William
P. Greene from the Company's Board of Directors.

The press release also announces that the Company has declared a cash dividend
of $.125 per share to be payable on December 30, 2003 to all Company
shareholders of record as of December 15, 2003.

For more information concerning these matters, please refer to the Company's
press release, a copy of which is attached to this Current Report on Form 8-K as
Exhibit 99.1 and incorporated herein by reference.



ITEM 7.  Financial Statements, Pro Forma Financial Information and Exhibits

(c)  Exhibits

Exhibit No.                     Document
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99.1                            Press Release dated November 14, 2003







                                   SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                            ESPEY MFG. & ELECTRONICS CORP.


                                             /s/ David A. O'Neil
                                             -------------------
                                             David A. O'Neil, Treasurer and
                                             Principal Financial Officer


Dated: November 14, 2003




FOR IMMEDIATE RELEASE
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Espey Holds 2003 Annual Shareholders' Meeting...
Board Declares Quarterly Dividend

Saratoga  Springs,  NY;  November  14,  2003;  Espey Mfg. &  Electronics  Corp.,
(AMEX:ESP) held its 2003 Annual Meeting of Shareholders  yesterday at the Hilton
Garden Inn in Saratoga Springs, New York.

The Shareholders elected three class A Directors - Mr. Howard Pinsley, Mr. Alvin
O. Sabo and Mr. Carl Helmetag. The shareholders also approved the appointment of
KPMG, LLP as the independent  public auditors of the Company for the fiscal year
ending June 30, 2004.

A proposal was made by a  shareholder  at the meeting to remove three members of
the Board of Directors  without cause, by separate  votes.  Those Directors were
Mr.  Michael  W.  Wool,  Mr.  Paul J.  Corr,  and Mr.  William  P.  Greene.  The
shareholders  voted in favor of the  removal of Mr.  Wool and Mr.  Corr from the
Board. The  shareholders did not approve the removal of Mr. Greene,  who remains
on the Board.

Mr.  Corr,  one  of  the  removed  Directors,  was a  member  of  the  Company's
three-member  audit committee.  As a result of his removal,  the Company's audit
committee is currently  comprised of two members,  rather than the three members
required  by its Audit  Committee  Charter and the rules of the  American  Stock
Exchange.  The  Company  will  expeditiously  move to fill the  audit  committee
vacancy   with  a  qualified   candidate.   Additionally,   the  Company   shall
expeditiously  move to fill the  vacancies  on its Board of  Directors to comply
with its Certificate of Incorporation.

In other business,  the Board of Directors has declared a cash dividend of $.125
per share for the second  quarter of the fiscal year ending June 30,  2004.  The
dividend will be payable on December 30, 2003, to all  shareholders of record as
of December 15, 2003.

Espey's  primary  business  is  the  development,   design,  and  production  of
specialized  military and industrial power  supplies/electronic  equipment.  The
Company's web site can be found on the Internet at www.espey.com.
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For further information, contact Mr. Barry Potoker at (518) 245-4400.

Certain statements in this press release may be "forward-looking statements" and
are made  pursuant  to the safe  harbor  provisions  of the  Private  Securities
Litigation Reform Act of 1995. These  forward-looking  statements  represent the
Company's current  expectations or beliefs concerning future events. The matters
covered by these statements are subject to certain risks and uncertainties  that
could  cause  actual  results to differ  materially  from those set forth in the
forward-looking  statements.  The Company wishes to caution readers not to place
undue reliance on any such  forward-looking  statements,  which speak only as of
the date made.