NORTECH SYSTEMS INC — Director's Dealing 2004

Nov 9, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: NORTECH SYSTEMS INC (NSYS)
CIK: 0000722313
Period of Report: 2004-11-01

Reporting Person: Pieper Keith A (Vice President of Operations)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Employee Stock Option (right to buy)	$5.74	2014-11-01	Common Stock (20000)		Direct

Footnotes

F1: Exercisable 20% one year after grant (11/1/04), 40% two years after grant, 60% three years after grant, 80% four years after grant, and 100% five years after grant.