MILESTONE SCIENTIFIC INC. — Director's Dealing 2005

Sep 26, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MILESTONE SCIENTIFIC INC/NJ (MS)
CIK: 0000855683
Period of Report: 2005-09-22

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2005-09-22	Warrants to purchase common stock	$4.89	P	1400	Acquired	2009-02-16	Common Stock (1400)	Direct
2005-09-26	Warrants to purchase common stock	$4.89	P	1500	Acquired	2009-02-16	Common Stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1347424	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options to purchase common stock	$2.625	2005-01-03	Common Stock (16666)	16666	Direct
Options to purchase common stock	$6	2006-01-04	Common Stock (16666)	16666	Direct
Options to purchase common stock	$1.65	2007-01-01	Common Stock (16666)	16666	Direct
Warrants to purchase common stock	$21	2005-01-31	Common Stock (11904)	11904	Direct
Options to purchase common stock	$6	2007-01-31	Common Stock (204728)	208728	Direct
Options to purchase common stock	$.87	2008-01-02	Common Stock (16666)	16666	Direct

Footnotes

F1: Adjusted to reflect a 1 for 3 reverse split of the Company's common stock on January 14, 2004.