INNODATA INC — Director's Dealing 2003

Aug 28, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA CORP (INOD)
CIK: 0000903651
Period of Report: 2003-08-26

Reporting Person: BROUWER KLAAS (Vice President - Technology)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-26	Common Stock	M	10000	$.67	Acquired	31000	Direct
2003-08-26	Common Stock	M	50	$.67	Acquired	31050	Direct
2003-08-26	Common Stock	S	10000	$2.05	Disposed	21050	Direct
2003-08-26	Common Stock	S	50	$2.065	Disposed	21000	Direct
2003-08-27	Common Stock	M	25000	$.67	Acquired	46000	Direct
2003-08-27	Common Stock	S	25000	$2.05	Disposed	21000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-26	Stock Options	$.67	M	10050	Disposed	2004-06-08	Common Stock (10050)	Direct
2003-08-27	Stock Options	$.67	M	25000	Disposed	2004-06-08	Common Stock (25000)	Direct

Footnotes

F1: Various

F2: Exercise of employee stock options