INNODATA INC — Director's Dealing 2003

Nov 26, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2003-11-25

Reporting Person: TANPHO JURGEN (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-25	Common Stock	M	7500	$1.56	Acquired	7500	Direct
2003-11-25	Common Stock	S	5000	$4.3322	Disposed	2500	Direct
2003-11-25	Common Stock	S	2500	$4.30	Disposed	0	Direct
2003-11-26	Common Stock	M	18600	$1.56	Acquired	18600	Direct
2003-11-26	Common Stock	S	7000	$4.20	Disposed	11600	Direct
2003-11-26	Common Stock	S	1600	$4.23	Disposed	10000	Direct
2003-11-26	Common Stock	S	2000	$4.32	Disposed	8000	Direct
2003-11-26	Common Stock	S	4000	$4.33	Disposed	4000	Direct
2003-11-26	Common Stock	S	4000	$4.37	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-25	Stock Option	$1.56	M	7500	Disposed	2005-05-31	Common Stock (7500)	Direct
2003-11-26	Stock Options	$1.56	M	18600	Disposed	2005-05-31	Common Stock (18600)	Direct

Footnotes

F1: Various

F2: Exercise of employee stock options