INNODATA INC — Director's Dealing 2005

May 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2005-05-25

Reporting Person: PALMEN JAN (Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-05-25	Common Stock	M	5000	$1.56	Acquired	5000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-25	Common Stock	$1.56	M	5000	Disposed	2005-05-31	Common Stock (5000)	Direct

Footnotes

F1: Currently exercisable

F2: Exercise of Stock Option