FREQUENCY ELECTRONICS INC — Director's Dealing 2003

Oct 22, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FREQUENCY ELECTRONICS INC (FEI)
CIK: 0000039020
Period of Report: 2003-10-21

Reporting Person: SHAPIRO E DONALD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-20	Common Stock	P	1000	$10.5	Acquired	1000	Direct
2003-10-21	Common Stock	P	1000	$10.5	Acquired	2000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
1998-06-29	Incentive Stock Option	$12.81	A	30000	Acquired	2008-06-28	Common Stock (30000)	Direct

Footnotes

F1: Option grants are exercisable on a cumulative basis as to one-quarter of the total number of shares covered by the grant on each of the first, second, third and fourth anniversary dates of the date of option grant.

F2: Options expire ten years after the date of grant.