EMERSON RADIO CORP — Director's Dealing 2003

Jul 28, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EMERSON RADIO CORP (MSN)
CIK: 0000032621
Period of Report: 2003-07-28

Reporting Person: RAAB JOHN J (Executive Vice President - Int)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-28	Common Stock	S	20966	$6.40	Disposed	0	Direct
2003-07-28	Common Stock	M	16667	$1.00	Acquired	16667	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-28	Employee Stock Option (Right to Buy)	$1.00	M	16667	Disposed	2010-07-17	Common Stock (16667)	Direct

Footnotes

F1: The option vests in three equal annual installments beginning on July 17, 2001.

F2: The option expires on the earlier of July 17, 2010 or the termination of Mr. Raab's employment in accordance with the terms of the Emerson Radio Corp. Stock Compensation Program.