IMMUCELL CORP /DE/ — Director's Dealing 2004

Feb 20, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IMMUCELL CORP /DE/ (ICCC)
CIK: 0000811641
Period of Report: 2004-02-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-02-18	Common Stock, par value $0.10 per share	P	600	$4.34	Acquired	366460	Direct
2004-02-18	Common Stock, par value $0.10 per share	P	900	$4.35	Acquired	367360	Direct
2004-02-18	Common Stock, par value $0.10 per share	P	700	$4.35	Acquired	368060	Direct
2004-02-19	Common Stock, par value $0.10 per share	P	500	$4.36	Acquired	368560	Direct
2004-02-19	Common Stock, par value $0.10 per share	P	800	$4.45	Acquired	369360	Direct
2004-02-19	Common Stock, par value $0.10 per share	P	1000	$4.45	Acquired	370360	Direct
2004-02-20	Common Stock, par value $0.10 per share	P	600	$4.42	Acquired	370960	Direct
2004-02-20	Common Stock, par value $0.10 per share	P	1400	$4.42	Acquired	372360	Direct
2004-02-20	Common Stock, par value $0.10 per share	P	100	$4.41	Acquired	372460	Direct

Footnotes

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