FUEL TECH, INC. — Director's Dealing 2004

Dec 16, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FUEL TECH N V (FTEK)
CIK: 0000846913
Period of Report: 2004-12-07

Reporting Person: ARNONE VINCENT J (Vice President & CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-07	Stock Option	$4.68	A	40000	Acquired	2014-12-07	Common (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	25750	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option	$1.47	2009-05-14	Common (6250)	6250	Direct
Stock Option	$2.0625	2010-02-08	Common (7500)	7500	Direct
Stock Option	$1.50	2011-02-22	Common (20000)	20000	Direct
Stock Option	$5.98	2012-02-28	Common (15000)	15000	Direct
Stock Option	$3.80	2013-12-09	Common (20000)	20000	Direct