SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
----------------

SCHEDULE 13D/A
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a) Under the Securities Exchange Act of 1934


(AMENDMENT No. 11)


WARWICK VALLEY TELEPHONE COMPANY
-----------------------------------------------------------
(Name of Issuer)


COMMON STOCK, PAR VALUE $0.01 PER SHARE
-----------------------------------------------------------
(Title of Class of Securities)


936750108
-----------------------------------------------------------
(CUSIP Number)


SANTA MONICA PARTNERS, L.P.
1865 Palmer Avenue
Larchmont, NY  10538
914-833-0875
-----------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

August 1, 2005
-----------------------------------------------------------
(Date of Event that Requires Filing of This Statement)

























CUSIP No. 936750108                  13D/A
Page 1 of 10 Pages


CUSIP No. 936750108                  13D/A
Page 2 of 10 Pages

___________________________________________________________

1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		SANTA MONICA PARTNERS, L.P.
		13-3100474
_______________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
		WC
___________________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		NEW YORK
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		106,581
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				106,581
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
_____________________________________________________________

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		106,581
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES 		[X]
___________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		1.9%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		PN

Filing by Santa Monica Partners, L.P. of this statement
shall not be construed as an admission that such entity
is, for purposes of Section 13(d) of the Securities Exchange
Act of 1934, the beneficial owner of any other securities
covered by this statement.



CUSIP No. 936750108                  13D/A
Page 3 of 10 Pages

___________________________________________________________

1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		SANTA MONICA PARTNERS OPPORTUNITY FUND, L.P.
		56-2393841
_______________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
		WC
___________________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		NEW YORK
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		5000
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				5000
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
_____________________________________________________________

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		5000
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES 		[X]
___________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0.0%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		PN

Filing by Santa Monica Partners Opportunity Fund, L.P. of
this statement shall not be construed as an admission that
such entity is, for purposes of Section 13(d) of the Securities
Exchange Act of 1934, the beneficial owner of any other
securities covered by this statement.



CUSIP No. 936750108                  13D/A
Page 4 of 10 Pages

___________________________________________________________

1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		SANTA MONICA PARTNERS II, L.P.
		48-1289758
_______________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
		WC
___________________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		NEW YORK
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		2000
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				2000
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
_____________________________________________________________

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		2000
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES 		[X]
___________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0.0%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		PN
__________________________________________________________

Filing by Santa Monica Partners II, L.P. of this statement
shall not be construed as an admission that such entity is,
for purposes of Section 13(d) of the Securities Exchange Act
of 1934, the beneficial owner of any other securities covered
by this statement.


CUSIP No. 936750108                  13D/A
Page 5 of 10 Pages


1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		SMP ASSET MANAGEMENT LLC
___________________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
		WC (of Santa Monica Partners, L.P.)
______________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		DELAWARE
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		106,581
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				106,581
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
			--------------------------------------
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		106,581
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES
		[X]
_________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		1.9%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		OO (LLC)
___________________________________________________________

Filing by SMP Asset Management, LLC of this statement shall
not be construed as an admission that such entity is, for
purposes of Section 13(d) of the Securities Exchange Act of 1934,
the beneficial owner of any other securities covered by this statement.


CUSIP No. 936750108                  13D/A
Page 6 of 10 Pages


1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		SANTA MONICA PARTNERS ASSET MANAGEMENT LLC
___________________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
WC (of Santa Monica Partners Opportunity Fund, L.P. and
Santa Monica Partners II, L.P.)
______________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		DELAWARE
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		7000
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				7000
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
			--------------------------------------
12	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		7000
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES
		[X]
_________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		0.0%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		OO (LLC)
___________________________________________________________

Filing by Santa Monica Partners Asset Management, LLC of this
statement shall not be construed as an admission that such
entity is, for purposes of Section 13(d) of the Securities
Exchange Act of 1934, the beneficial owner of any other
securities covered by this statement.




CUSIP No. 936750108                  13D/A
Page 7 of 10 Pages

1	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
		LAWRENCE J. GOLDSTEIN
___________________________________________________________

2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
		(a)  [ ]
		(b)  [X]
___________________________________________________________

3	SEC USE ONLY
___________________________________________________________

4	SOURCE OF FUNDS
	WC (of Santa Monica Partners, L.P.
	and certain client accounts)
___________________________________________________________

5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
	REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)	[_]
___________________________________________________________

6	CITIZENSHIP OR PLACE OF ORGANIZATION
		USA
___________________________________________________________

			7	SOLE VOTING POWER
NUMBER OF		113,581
SHARES		--------------------------------------
BENEFICIALLY	8	SHARED VOTING POWER
OWNED BY		0
EACH REPORTING	--------------------------------------
PERSON WITH	9	SOLE DISPOSITIVE POWER
				123,781
			--------------------------------------
			10	SHARED DISPOSITIVE POWER
				0
____________________________________________________________

11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
	PERSON
		123,781
______________________________________________________________

12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
	EXCLUDES CERTAIN SHARES 		[X]
___________________________________________________________

13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
		2.2%
___________________________________________________________

14	TYPE OF REPORTING PERSON
		IN
__________________________________________________________

Filing by Lawrence J. Goldstein of this statement shall not
be construed as an admission that such person is, for purposes
of Section 13(d) of the Securities Exchange Act of 1934, the
beneficial owner of any securities covered by this statement.




CUSIP No. 936750108                  13D/A
Page 8 of 10 Pages


WARWICK VALLEY TELEPHONE COMPANY SCHEDULE 13D/A
(AMENDMENT No. 11)


Item 1.  Security and Issuer.

No Change


Item 2.   Identity and Background.

a) This Statement is being filed by Santa Monica Partners, L.P., a New York
limited partnership ("Santa Monica Partners"), Santa Monica Partners
Opportunity Fund, L.P. a Delaware limited partnership ("SMPOF"), Santa Monica
Partners II, a Delaware limited partnership ("SMPII"), SMP Asset Management
LLC, a Delaware limited liability company that acts as the general partner of
Santa Monica Partners ("SMP Asset Management"), Santa Monica Partners Asset
Management, LLC, a Delaware limited liability company that acts as the general
partner of SMPOF and SMPII ("SMPAM"), and Lawrence J. Goldstein, the president
and sole owner of SMP Asset Management and SMPAM.

(b)-(c) The principal business of Santa Monica Partners, SMPOF and SMPII is to
invest in securities with the objective of preserving principal, building net
worth, and achieving long-term capital growth for its investors.  The principal
business of SMP Asset Management and SMPAM is to provide investment advice to
and to manage the business and affairs of Santa Monica Partners, SMPOF and
SMPII respectively.  Mr. Goldstein's principal occupation is providing
investment advice to and supervising the business and affairs of SMP Asset
Management, SMPAM, and indirectly, Santa Monica Partners, SMPOF and SMPII.  The
principal business address of Santa Monica Partners, SMPOF, SMPII, SMP Asset
Management, SMPAM, and Mr. Goldstein (collectively, the "Reporting Persons") is
1865 Palmer Avenue, Larchmont, New York 10538.

(d) During the last five years, none of the Reporting Persons has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).

(e) During the last five years, none of the Reporting Persons has been a party
to a civil proceeding of a judicial or administrative body of competent
jurisdiction or is subject to any judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to,
federal or state securities laws or a finding of any violation with respect to
such laws.

(f) Mr. Goldstein is a citizen of the United States of America.


Item 3.  Source and Amount of Funds or Other Consideration.

The source of all funds for purchases of the Shares by Santa Monica Partners,
SMPOF and SMPII was the working capital of Santa Monica Partners, SMPOF and
SMPII respectively.  The source of all funds for purchases by SMP Asset
Management, SMPAM and Mr. Goldstein, as President and sole owner of SMP Asset
Management and SMPAM, was the working capital of Santa Monica Partners, SMPOF
and SMPII respectively.  The source of


CUSIP No. 936750108                  13D/A
Page 9 of 10 Pages


all funds for purchases by Mr. Goldstein on behalf of certain client accounts
was the working capital of such accounts.

Such working capital may, at any given time, include margin loans made by
brokerage firms in the ordinary course of business.


Item 4.  Purpose of Transaction.

On August 1, 2005 Santa Monica Partners, L.P. transmitted a letter to
shareholders of Warwick Valley Telephone the "Issuer.  Such letter of
August 1, 2005 is annexed hereto as Exhibit 1 and is
incorporated by reference.


Item 5.  Interest in Securities of the Issuer.

(a)-(b) As of August 1, 2005: (i) the Reporting Persons owned beneficially,
directly or indirectly, an aggregate of 123,781 Shares, or 2.2% of the Shares
outstanding; (ii) Santa Monica Partners had sole voting and sole dispositive
power over 106,581 Shares; SMPOF had sole voting and sole dispositive power
over 5,000 Shares; SMPII had sole voting and sole dispositive power over 2,000
Shares; Lawrence J. Goldstein had sole voting and sole dispositive power over
113,581 Shares and sole dispositive power over 10,200 Shares.

(c) The following is a list of transactions in the Shares made in open market
purchases during the past 60 days:

			Amount 	Price per
Date			Bought	Share		Purchaser
6/28/05		6,000	$24.60		Santa Monica Partners
6/28/05		5,000	$24.60		SMPOF
6/28/05		2,000	$24.60		SMPII

(d) No Change

(e) No Change


Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer.

No Change


Item 7.  Material to be filed as Exhibits.



Exhibit 1:

August 1, 2005 letter from Santa Monica Partners, LP
to shareholders of the Issuer.


Exhibit 2:

Agreement of Joint Filing by and among Santa Monica Partners, L.P.,
Santa Monica Opportunity Fund, L.P. and Santa Monica Partners II, L.P.,
dated August 1, 2005


CUSIP No. 936750108                  13D/A
Page 10 of 10 Pages


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.


SANTA MONICA PARTNERS, L.P.
By: SMP ASSET MANAGEMENT LLC

By: /s/LAWRENCE J.GOLDSTEIN
----------------------------------------
Lawrence J. Goldstein, President


SANTA MONICA PARTNERS OPPORTUNITY FUND, L.P.
SANTA MONICA PARTNERS II, L.P.
By: SANTA MONICA PARTNERS ASSET MANAGEMENT LLC

By: /s/LAWRENCE J.GOLDSTEIN
----------------------------------------
Lawrence J. Goldstein, President


SMP ASSET MANAGEMENT, LLC

By: /s/LAWRENCE J. GOLDSTEIN
----------------------------------------
Lawrence J. Goldstein, President


SANTA MONICA PARTNERS ASSET MANAGEMENT, LLC

By: /s/LAWRENCE J. GOLDSTEIN
----------------------------------------
Lawrence J. Goldstein, President


/s/LAWRENCE J. GOLDSTEIN
--------------------------------------
Lawrence J. Goldstein



Exhibit 1:

SANTA MONICA PARTNERS, L.P.
1865 PALMER AVENUE
LARCHMONT, NY  10538
WWW.SMPLP.COM
Tel: 914.833.0875
Fax: 914.833.1068
ljgoldstein@bloomberg.net

August 1, 2005


Dear Shareholder,

Mr. Herbert Gareiss, Jr., President and CEO of Warwick
Valley Telephone Company, has made misleading statements
about WVT, its operations and our concerns. His comments
are without merit.

On May 31, Mr. Gareiss wrote to shareholders because, as
he put it, "many of our shareholders received a letter
dated May 9, 2005 from Mr. Lawrence J. Goldstein. I am
writing to address some of Mr. Goldstein's misleading
statements about WVT and its operations and to reassure
all shareholders that Mr. Goldstein's concerns are
without merit."

Mr. Gareiss attempted to make four points in his letter.

One of the key points Mr. Gareiss made was that "WVY is
effectively addressing financial reporting and the
listing concerns."

Talk about misleading, Mr. Gareiss wrote:

"WVT has always been completely forthright in our public
financial reporting. When we were unable to file our
Annual Report on Form 10-K ("the Form 10-K") for the
year ended December 31, 2004 on time, NASDAQ began its
process to investigate why. The filing delay resulted
solely from what we - and many other small companies -
encountered in meeting the new requirements mandated by
Section 404 of the Sarbanes Oxley Act of 2002 ("SOX").
We have recently received notice that the Nasdaq Listing
Qualifications Panel has granted our request for the
continued listing of our common shares, provided we file
our Form 10-K and Quarterly Report on Form 10-Q on or
before July 29, 2005. We strongly believe that the
Company will be in a position to file these reports well
in advance of that date."  (Please note the BOLD
typeface which was placed in the letter by Mr. Gareiss -
- his emphasis, not ours.)

Mr. Gareiss made his "strongly believe" statement in his
May 31, 2005 letter to shareholders over two months ago.
He didn't merely believe, he went to an extra length to
characterize his belief with the use of the adverb
"strongly".

So, after telling us last April that the Company was
going to be late in providing a 2004 annual report and
was spending "approximately $1.5 million" to comply with
Sarbanes Oxley Section 404, Mr. Gareiss then told us
last May "We strongly believe that the Company will be
in a position to file these reports well in advance of
that date" ("on or before July 29, 2005").  Now July 29
has come and gone and we are into August and still there
is no sign of any reports to shareholders, SEC filings,
or holding a long overdue annual meeting.

The bold faced print "strongly believe" has evaporated
into thin air. Clearly as anyone will see, it is Mr.
Gareiss's statements to shareholders about WVT and its
operations that has proven to be misleading, far from
reassuring and without merit.

It is important to note that the Form 10-K Mr. Gareiss
is referring to is the Company's annual report for last
year and the 10-Q is the report for the first quarter of
this year. As we write this letter neither report has
been filed or released nor have shareholders heard one
peep out of Mr. Gareiss in the past three months.

Mr. Gareiss also attempted to make the point that "The
proposed spin-off is impractical and inadvisable."

We expressed and documented our opinion that a spin-off
of the Plain Old Telephone System (POTS) would go a long
way toward enhancing shareholder value by enabling both
a higher share price and a doubling of cash dividends.
This is in fact both practicable and advisable if only
management and the Board of Directors cared enough to
want to enhance shareholder value and thereby increase
the wealth of Warwick's shareholders by putting more
cash and a higher priced stock in the pockets of their
shareholders.

The third point made by Mr. Gareiss was that "WVT
generated strong returns for shareholders."

Really? Our stock was trading over $34 per share in
November, 2003 and today, twenty months later, the stock
trades 29% lower at a mere $24 per share.  Is this the
"strong return generated for shareholders" that Mr.
Gareiss so boldly speaks of?

Or is it the falling cash flow and declining profits
from the operating telephone business, the POTS, which
they have been reporting for years and years now?

The only thing that has grown has been the OCP which is
why we would like to see it separated from and
unencumbered by the declining POTS. W would like to see
the OCP given to shareholders as a separate stock so
that shareholders could be given an opportunity to
benefit by seeing this passive investment, which has
nothing at all to do with the POTS business, correctly
valued and recognized in the marketplace. Which is also
our response to the very next point.

The fourth and last point Mr. Gareiss made was that "WVY
is following its strategy."

This is precisely what we believe is wrong - their
strategy!

Currently, their strategy is resulting is a lower stock
price, declining cash flows and declining earnings.  It
includes failing to adequately prepare for changing
regulatory issues and thus having to delay the filing of
critical financial reports to shareholders and spend
additional millions to try and comply and do so in a
very untimely manner.  Perhaps had shareholders been
afforded the opportunity to review accurate financial
reports on time they may have chosen to sell their stock
and avoided the price decline.

To make matters worse shareholders have received no
reports on the financial condition of the Company for
2005, and we are now well into the third quarter of the
calendar year. Furthermore we have seen no proxy
statement no annual meeting has even been scheduled let
alone discussed.

Incidentally, while Mr. Gareiss has chosen to keep us in
the dark about the performance of the OCP all one has to
do is read FairPoint Communications reports and they can
see the OCP's continuing very fine financial
performance.  FairPoint, like WWVYE, owns 7.5% of the
OCP and reported the year 2004 financials last May 16.
How come you haven't done this Mr. Gareiss? Your
difficulties with Sarbanes compliance did not prevent
you from coming clean with shareholders regarding the
OCP performance did they? We think not.

We ask you -- who is really making misleading statements
about WVT and its operations?  Whose statements and
concerns are without merit?

Review the facts and you be the judge.

If you would like to discuss our/or your feelings with
us please contact us anytime.  However, we believe
management and the Board of Directors should also hear
from you from you directly!  Unless you too speak up,
they will continue ignoring the many opportunities to
enhance shareholder value that are available to them
right now.

Mr. Gareiss and Mr. Buckbee can both be reached at:

Herbert Gareiss, Jr.			Wisner H.
Buckbee, Sr.
President & CEO				Chairman
47 Main Street, Warwick, NY 10990	47 Main Street,
Warwick, NY 10990
845 986-8080				845 986-8080
fax 845 986-6699				fax 845 986-6699



Thank you,

Lawrence J. Goldstein
ljg@smplp.com

Joshua M. Eudowe
jeudowe@smplp.com


Exhibit 2:


Agreement of Joint Filing

Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange Act of
1934, as amended, each of the undersigned persons hereby agrees to file with
the Securities and Exchange Commission the Statement on Schedule 13D (the
"Statement") to which this Agreement is attached as an exhibit, as well as any
further amendments filed by them with respect to the shares of common stock of
Warwick Valley Telephone Company, $.01 per value per share, and agree that the
Statement is filed on behalf of each of them.

IN WITNESS WHEREOF, the undersigned have executed this Agreement.


Dated: August 1, 2005

SANTA MONICA PARTNERS, L.P.
By: SMP ASSET MANAGEMENT LLC

By: -------------------------------
Lawrence J. Goldstein, President



Dated: August 1, 2005

SANTA MONICA PARTNERS OPPORTUNITY FUND, L.P.
By: SANTA MONICA PARTNERS ASSET MANAGEMENT LLC

By: -------------------------------
Lawrence J. Goldstein, President



Dated: August 1, 2005

SANTA MONICA PARTNERS II, L.P.
By: SANTA MONICA PARTNERS ASSET MANAGEMENT LLC

By: -------------------------------
Lawrence J. Goldstein, President








