INNODATA INC — Director's Dealing 2003

Dec 23, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2003-12-23

Reporting Person: GOLDFARB CHARLES F (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-23	Stock Option	$3.26	A	30000	Acquired	2013-12-22	Common Stock (30000)	Direct

Footnotes

F1: 25% on December 23, 2004 and linear thereafter over succeeding 36 months

F2: Stock Option Grant