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

FORM 144

NOTICE OF PROPOSED SALE OF SECURITIES
PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933

ATTENTION:      Transmit for filing 3 copies of this form concurrently with either placing an order with a broker to execute sale or executing a sale directly with a market maker.

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SEC USE ONLY

DOCUMENT SEQUENCE NO.

CUSIP NUMBER

WORK LOCATION

1  (a)  NAME OF ISSUER (Please type or print)

          ASA LTD

(b)   IRS IDENT. NO. 
       986000252

(c)   S.E.C. FILE  NO. 
811-21650

1  (d)  ADDRESS OF ISSUER                                                     STREET                            CITY                                STATE                      ZIP CODE

                               11 SUMMER STREET                                                      BUFFALO                                      NY                              14209

(e)  TELEPHONE

AREA CODE
716

NUMBER
883-2428

2  (a)  NAME OF PERSON FOR WHOSE ACCOUNT THE SECURITIES  ARE TO BE SOLD

        ANDREW PEGGE

(b)  IRS IDENT. NO.

   N/A

(c)   RELATIONSHIP TO ISSUER

DIRECTOR

(d)   ADDRESS STREET        CITY     STATE   ZIP CODE

4TH FLOOR, DERBY HOUSE
64 ATHOL STREET              DOUGLAS     ISLE OF MAN      IM1 1JD

INSTRUCTION:   The person filing this notice should contact the issuer to obtain the I.R.S. identification Number and the S.E.C. File Number

3 (a)

Title of the Class of Securities
To Be Sold

(b)

Name and Address of Each Broker Through Whom the Securities Are To Be Offered or Each Market Maker who is Acquiring the Securities

SEC USE ONLY

(c)

Number of Shares
or Other Units
To Be Sold
(See Instr. 3 (c))

(d)

Aggregate
Market
Value
(See Instr. 3(d)

(e)

Number of Shares
or Other Units
Outstanding
(See Instr. 3(e))

(f)

Approximate Date of Sale
(See Instr. 3(f))
(MO.  DAY  YR.)

(g)

Name of Each
Securities
Exchange
(See instr. 3 g))

Broker-Dealer
File Number

COMMON
STOCK

INSTINET LLC
8TH FLOOR, 3 TIMES SQUARE
NEW YORK, NY  10036

105,628

$6,327,117
based on NYSE
closing price of $59.90 on 05/12/09

7,200,000

05/13/09
to
08/12/09

NYSE


INSTRUCTIONS:
1.  (a)  Name of Issuer
     (b)  Issuer's I.R.S. Identification Number
     (c)  Issuer's S.E.C. file number, if any
     (d)  Issuer's address, including zip code
     (e)  Issuer's telephone number, including area code

3.  (a)  Title of the class of securities to be sold
     (b)  Name and Address of each broker through whom the securities are intended to be sold
     (c)  Number of shares or other units to be sold (if debt securities, give the aggregate face amount)
     (d)  Aggregate market value of the securities to be sold as of a specified date within 10 days prior to the filing of this notice
     (e)  Number of shares or other units of the class outstanding, or if debt  securities the face amount thereof outstanding, as shown
           by the most recent report or statement published by the issuer
     (f)  Approximate date on which the securities are to be sold
     (g)  Name of each securities exchange, if any, on which the securities are intended to be sold

2.  (a)  Name of person for whose account the securities are to be sold
     (b)  Such person's I.R.S. identification number, if such person is an entity
     (c)  Such person's relationship to the issuer (e.g., officer, director, 10%
           stockholder, or member of immediate family of any of the foregoing)
     (d)  Such person's address, including zip code

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB control number.                       

SEC 1147 (02-08)

 

 

TABLE I - SECURITIES TO BE SOLD
Furnish the following information with respect to the acquisition of the securities to be sold
and with respect to the payment of all or any part of the purchase price or other consideration therefor.

Title of
the Class

Date you
Acquired

Nature of Acquisition Transaction

Name of the Person from Whom Acquired
(if gift, also give date donor acquired

Amount of
Securities Acquired

Date of
Payment

Nature of Payment

COMMON
STOCK

Feb 2001 - Mar 2008

MARKET TRADING

MARKET TRADING

105,628

Feb 2001 - Mar 2008

CASH

INSTRUCTIONS:

If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

_____________________________________________________________________________________________________________________________________________________________________________

TABLE II - SECURITIES SOLD DURING THE PAST 3 MONTHS
Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.


Name and Address of Seller


Title of Securities Sold


Date of Sale

Amount of
Securities Sold(2)


Gross Proceeds

 

 

 

REMARKS:

INSTRUCTIONS:

ATTENTION:

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the issuer of the securities to be sold which has not been publicly disclosed.


May 13, 2009
______________________________________________________________________
DATE OF NOTICE

______________________________________________________________________
DATE OF PLAN ADOPTION OR GIVING OF INSTRUCTION, IF RELYING ON RULE 10B5-1

/s/ Andrew Pegge by his Attorney-in-Fact Paul K. Wustrack, Jr.
____________________________________________________________________________
(SIGNATURE)


This notice shall be signed by the person for whose account the securities are to be sold. At least one copy of the notice shall be manually signed.

Any copies not manually signed shall bear typed or printed signatures

    ATTENTION:    Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

SEC 1147 (02/08)