COMTECH TELECOMMUNICATIONS CORP /DE/ — Director's Dealing 2004

Mar 25, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: COMTECH TELECOMMUNICATIONS CORP /DE/ (CMTL)
CIK: 0000023197
Period of Report: 2003-03-23

Reporting Person: SEGUI GAIL (Secretary and Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-03-23	Common stock par value $.10 per share	M	2500	$7.59	Acquired	14925	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-03-23	Stock Option Right to Buy	$7.59	M	2500	Disposed	2010-12-12	Common stock par value $.10 per share (2500)	Direct

Footnotes

F1: Option was granted under the Company's 2000 Stock Incentive Plan