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: ARGABRIGHT STEVEN C (President & COO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-12-07	Common Option	$4.68	A	50000	Acquired	2014-12-07	Common (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	15000	Direct
Common Stock	4000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Option	$1.75	2008-01-14	Common (100000)	100000	Direct
Common Option	$2.125	2009-02-02	Common (75000)	75000	Direct
Common Option	$2.0625	2010-02-08	Common (75000)	75000	Direct
Common Option	$1.50	2011-02-22	Common (50000)	50000	Direct
Common Option	$5.98	2012-02-28	Common (35000)	35000	Direct
Common Option	$3.80	2013-12-09	Common (40000)	40000	Direct