QUAKER CHEMICAL CORP — Director's Dealing 2003

Sep 23, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-09-22

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-22	Common Stock	M	2500	$17.75	Acquired	6113	Direct
2003-09-22	Common Stock	S	100	$24.65	Disposed	6013	Direct
2003-09-22	Common Stock	S	2000	$24.11	Disposed	4013	Direct
2003-09-22	Common Stock	S	400	$24.12	Disposed	3613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-22	Stock Options (Right to buy)	$17.75	M	2500	Disposed	2008-01-23	Common Stock (2500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119	Indirect

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 29, 2003.

F2: Information based on 6/30/03 Plan statement.

F3: Employee stock option (right to buy) exercisable in three annual installments (50% after year one; 25% after year two; and 25% after year three).