QUAKER CHEMICAL CORP — Director's Dealing 2003

Nov 7, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-11-06

Reporting Person: CLARK IAN F (VP - GIL - MW/CMS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-11-06	Common Stock	M	6500	$20.09	Acquired	10113	Direct
2003-11-06	Common Stock	S	500	$25.12	Disposed	9613	Direct
2003-11-06	Common Stock	S	700	$25.1	Disposed	8913	Direct
2003-11-06	Common Stock	S	100	$25.24	Disposed	8813	Direct
2003-11-06	Common Stock	S	300	$25.34	Disposed	8513	Direct
2003-11-06	Common Stock	S	500	$25.3	Disposed	8013	Direct
2003-11-06	Common Stock	S	600	$25.4	Disposed	7413	Direct
2003-11-06	Common Stock	S	900	$25.51	Disposed	6513	Direct
2003-11-06	Common Stock	S	300	$25.5	Disposed	6213	Direct
2003-11-06	Common Stock	S	200	$25.52	Disposed	6013	Direct
2003-11-06	Common Stock	S	300	$25.51	Disposed	5713	Direct
2003-11-06	Common Stock	S	500	$25.6	Disposed	5213	Direct
2003-11-06	Common Stock	S	300	$25.55	Disposed	4913	Direct
2003-11-06	Common Stock	S	200	$25.92	Disposed	4713	Direct
2003-11-06	Common Stock	S	800	$25.9	Disposed	3913	Direct
2003-11-06	Common Stock	S	300	$25.75	Disposed	3613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-11-06	Stock Options (Right to buy)	$20.09	M	6500	Disposed	2009-01-23	Common Stock (6500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	129	Indirect

Footnotes

F1: Information based on 9/30/03 Statement.

F2: Employee stock option (right to buy) exercisable in three annual installments (50% after year one; 25% after year two; and 25% after year three).