MILESTONE SCIENTIFIC INC. — Director's Dealing 2003

Dec 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MILESTONE SCIENTIFIC INC/NJ (MS)
CIK: 0000855683
Period of Report: 2003-12-15

Reporting Person: OSSER LEONARD (Director, Chief Executive Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-15	Common Stock, par value $.001 per share	X	50000	$1.00	Acquired	2915244	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options for Common Stock par value $.001	$1.00		Common Stock par Value $.001 (50000)	799897	Direct

Footnotes

F1: Information regarding these options was provided on previously filed Form 4's

F2: The options, exercised on December 15, 2003 were granted on January 9, 1999 and were to expire on January 9, 2004.