INNODATA INC — Director's Dealing 2004

Sep 1, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2004-08-30

Reporting Person: PALMEN JAN (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-08-30	Common Stock	M	3000	$1.56	Acquired	3000	Direct
2004-08-30	Common Stock	S	3000	$4.35	Disposed	0	Direct
2004-09-01	Common Stock	M	5000	$1.56	Acquired	5000	Direct
2004-09-01	Common Stock	S	4600	$4.00	Disposed	400	Direct
2004-09-01	Common Stock	S	400	$4.01	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-08-30	Stock Option	$1.56	M	3000	Disposed	2005-05-31	Common Stock (3000)	Direct
2004-09-01	Stock Option	$1.56	M	5000	Disposed	2005-05-31	Common Stock (5000)	Direct

Footnotes

F1: Various

F2: Exercise of employee stock options