CHEMED CORP — Director's Dealing 2003

May 16, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEMED CORP (CHE)
CIK: 0000019584
Period of Report: 2003-05-14

Reporting Person: GABELLI ASSET MANAGEMENT INC ET AL (10% Owner)
Reporting Person: GABELLI MARIO J (10% Owner)

Footnotes

F1: The Reporting Persons have less than a 100% interest in this entity. The amount of securities reported as beneficially owned reflects the total amount of securities held by this entity, which is greater than the Reporting Persons' pecuniary interest. The Reporting Persons disclaim beneficial ownership of these securities in excess of their indirect pecuniary interests.