MILESTONE SCIENTIFIC INC. — Director's Dealing 2003

Oct 2, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MILESTONE SCIENTIFIC INC/NJ (MS)
CIK: 0000855683
Period of Report: 2003-09-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-30	Common Stock .001 par value	P	400454	$404459	Acquired	3265698	Direct

Holdings (Derivative)

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

Footnotes

F1: Options to purchase common stock * 1/2/02 A A 1/2/02 1/31/07 Common Stock par value $.001 614,183 D

*The exercise price for any of these option 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