NETWORK-1 TECHNOLOGIES, INC. — Director's Dealing 2003

Dec 24, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NETWORK 1 SECURITY SOLUTIONS INC (NSSI.PK)
CIK: 0001065078
Period of Report: 2003-12-22

Reporting Person: HOROWITZ COREY M (Director, CEO and Chairman, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-22	Option to Purchase Common Stock	$0.2300	A	1084782	Acquired	2008-12-22	Common Stock, $.01 par value per share (1084782)	Direct
2003-12-22	Option to Purchase Common Stock	$0.1300	A	515218	Acquired	2008-12-22	Common Stock, $.01 par value per share (515218)	Direct

Footnotes

F1: The shares underlying the Option vested on the date of the grant with respect to 434,782 shares and shall vest with regard to 250,000 shares on December 22, 2004, 200,000 shares on December 22, 2005 and an additional 200,000 shares on December 22, 2006.

F2: The option was granted in consideration for services rendered to the Issuer.