INNODATA INC — Director's Dealing 2003

Nov 18, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2003-11-14

Reporting Person: GOLDFARB CHARLES F (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-14	Stock Options	$3.69	A	90000	Acquired	2013-11-13	Common Stock (90000)	Direct

Footnotes

F1: 32,000 on November 14, 2003; 1,275 monthly from December 2003 through and including November 2004; 8,775 on December 14, 2004; 1900 on January 14, 2005; 1,471 monthly from February 2005 through and including January 2006; 653 monthly from February 2006 through and including October 2007; and 660 on November 14, 2007.

F2: Stock Option Grant