QUAKER CHEMICAL CORP — Director's Dealing 2003

Sep 18, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-09-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-17	Common Stock	M	1500	$14.7188	Acquired	5113	Direct
2003-09-17	Common Stock	S	200	$26.4	Disposed	4913	Direct
2003-09-17	Common Stock	S	100	$26.3	Disposed	4813	Direct
2003-09-17	Common Stock	S	100	$26.35	Disposed	4713	Direct
2003-09-17	Common Stock	S	300	$26.33	Disposed	4413	Direct
2003-09-17	Common Stock	S	100	$26.2	Disposed	4313	Direct
2003-09-17	Common Stock	S	100	$26.01	Disposed	4213	Direct
2003-09-17	Common Stock	S	100	$25.85	Disposed	4113	Direct
2003-09-17	Common Stock	S	200	$25.78	Disposed	3913	Direct
2003-09-17	Common Stock	S	300	$25.75	Disposed	3613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-17	Employee Stock Option	$14.7188	M	1500	Disposed	2007-01-18	Common Stock (1500)	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).