FUEL TECH, INC. — Director's Dealing 2003

Dec 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FUEL TECH N V (FTEK)
CIK: 0000846913
Period of Report: 2003-12-09

Reporting Person: ARGABRIGHT STEVEN C (President & COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
1998-01-14	Common Option	$1.75	A	0	Disposed	2008-01-14	Common (100000)	Direct
1999-02-02	Common Option	$2.125	A	0	Disposed	2009-02-02	Common (75000)	Direct
2000-02-08	Common Option	$2.0625	A	0	Disposed	2010-02-08	Common (75000)	Direct
2001-02-22	Common Option	$1.50	A	0	Disposed	2011-02-22	Common (50000)	Direct
2002-02-28	Common Option	$5.98	A	0	Disposed	2012-02-28	Common (35000)	Direct
2003-12-09	Common Option	$3.80	A	40000	Acquired	2013-12-09	Common (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15000	Direct
Common Stock	4000	Indirect