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Stock Trading History of Msr I Sbic Lp

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Msr I Sbic Lp since year 2005. The trader's CIK number is 1318729. At the time of this reporting, Msr I Sbic Lp is the 10% Owner of Argan Inc (stock ticker symbol AGAX).

Stock purchases, sales, and option exercises reported by *Msr I Sbic Lp* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2006-12-08	AGAX	Argan Inc	Purchase	533,333	3.75	1,999,998
2005-08-17	AGAX	Argan Inc	Purchase	95,321	.00	0
2006-05-08	AGAX	Argan Inc	Purchase	240,000	2.50	600,000

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Msr I Sbic Lp (10% Owner of Argan Inc at the time of this reporting) see the Securities and Exchange Commission (SEC) website.