QUAKER CHEMICAL CORP — Director's Dealing 2003

Sep 17, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-09-15

Reporting Person: BAUER JOSEPH WILLIAM (President & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-15	Common Stock	M	1500	$14.7188	Acquired	6511	Direct
2003-09-15	Common Stock	S	300	$26.36	Disposed	6211	Direct
2003-09-15	Common Stock	S	100	$26.42	Disposed	6111	Direct
2003-09-15	Common Stock	S	100	$26.45	Disposed	6011	Direct
2003-09-15	Common Stock	S	100	$26.31	Disposed	5911	Direct
2003-09-15	Common Stock	S	100	$26.47	Disposed	5811	Direct
2003-09-15	Common Stock	S	200	$26.5	Disposed	5611	Direct
2003-09-15	Common Stock	S	200	$26.58	Disposed	5411	Direct
2003-09-15	Common Stock	S	300	$26.6	Disposed	5111	Direct
2003-09-16	Common Stock	S	100	$26.3	Disposed	5011	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-15	Employee Stock Option	$14.7188	M	1500	Disposed	2007-01-18	Common Stock (1500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5669	Indirect

Footnotes

F1: Information based on 6/30/03 Plan 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).