NORTECH SYSTEMS INC — Director's Dealing 2004

Jan 15, 2004

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: NORTECH SYSTEMS INC (NSYS)
CIK: 0000722313
Period of Report: 2003-12-31

Reporting Person: LARSON KENNETH D (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-10	Director Stock Option (right to buy)	$8.00	A	7000	Acquired	2013-12-10	Common Stock (7000)	Direct

Footnotes

F1: 1,000 options exercisable 12/10/03; 3,000 exercisable 1/1/04; 5,000 exercisable 1/1/05; 7,000 exercisable 1/1/06.