INNODATA INC — Director's Dealing 2005

May 18, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: INNODATA ISOGEN INC (INOD)
CIK: 0000903651
Period of Report: 2005-05-16

Reporting Person: AGRESS STEPHEN (Vice President, Finance)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-05-16	Stock Option	$1.56	J	100000	Disposed	2005-05-31	Common Stock (100000)	Direct
2005-05-16	Stock Option	$2.59	J	100000	Acquired		Common Stock (100000)	Direct

Footnotes

F1: Currently exercisable

F2: Reported transaction involves the change in expiration date of previously reported and vested stock options from May 31, 2005 to: 20,000 expiring on May 31, 2009, 20,000 expiring on May 31, 2010, 20,000 expiring on May 31, 2011, 20,000 expiring on May 31, 2012, and 20,000 expiring on May 31, 2013; and the change of the exercise price from $1.56 to $2.59.