IMMUCELL CORP /DE/ — Director's Dealing 2003

Nov 4, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMMUCELL CORP /DE/ (ICCC)
CIK: 0000811641
Period of Report: 2003-10-31

Reporting Person: ROTHSCHILD JONATHAN E (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-31	Common Stock, par value $0.10 per share	P	500	$3.01	Acquired	345460	Direct
2003-11-03	Common Stock, par value $0.10 per share	P	300	$3.06	Acquired	345760	Direct
2003-11-04	Common Stock, par value $0.10 per share	P	500	$3.02	Acquired	346260	Direct
2003-11-04	Common Stock, par value $0.10 per share	P	500	$3.01	Acquired	346760	Direct

Footnotes

F1: These shares were acquired by Arterio, Inc., a company solely owned by Mr. Rothschild.