MILESTONE SCIENTIFIC INC. — Director's Dealing 2003

Nov 12, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MILESTONE SCIENTIFIC INC/NJ (MS)
CIK: 0000855683
Period of Report: 2003-11-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-12	Common Stock, $.001 par value	J	40579	—	Acquired	3270277	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-01-02	Options to purchase common stock	$.29	A	50000	Acquired	2008-01-02	Common Stock par value $.001 (50000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options to purchase common stock	$1.00	2004-01-09	Common Stock par value $.001 (50000)	50000	Direct
Options to purchase common stock	$.875	2005-01-01	Common Stock par value $.001 (50000)	50000	Direct
Options to purchase common stock	$2.00	2006-01-04	Common Stock par value $.001 (50000)	50000	Direct
Options to purchase common stock	$.68	2007-01-02	Common Stock par value $.001 (50000)	50000	Direct
Options to purchase common stock	$1.75	2005-02-01	Common Stock par value $.001 (35714)	35714	Direct
Options to purchase common stock	$	2007-01-31	Common Stock par value $.001 (614183)	614183	Direct

Footnotes

F1: The Shares were issued by the Company to the Reporting Person in consideration for, and in connection with, the extension of the payment date on certain debt due to the Reporting Person from the Company.

F2: The exercise price for any of these options is $.80 through 1/31/03, $1.00 from 2/1/03 through 1/31/06 and $2.00 from 2/1/06 through 1/31/07.

F3: Not applicable.