INNODATA INC — Director's Dealing 2004

Aug 27, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2004-08-26

Reporting Person: PALMEN JAN (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-26	Common Stock	M	3000	$1.56	Acquired	3000	Direct
2004-08-26	Common Stock	S	2050	$3.90	Disposed	950	Direct
2004-08-26	Common Stock	S	150	$3.92	Disposed	800	Direct
2004-08-26	Common Stock	S	200	$3.94	Disposed	600	Direct
2004-08-26	Common Stock	S	400	$3.95	Disposed	200	Direct
2004-08-26	Common Stock	S	200	$3.96	Disposed	0	Direct
2004-08-27	Common Stock	M	2000	$1.56	Acquired	2000	Direct
2004-08-27	Common Stock	S	2000	$3.90	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-26	Stock Options	$1.56	M	3000	Disposed	2005-05-31	Common Stock (3000)	Direct
2004-08-27	Stock Options	$1.56	M	2000	Disposed	2005-05-31	Common Stock (2000)	Direct

Footnotes

F1: Various

F2: Exercise of employee stock options