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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-09-15	Common Stock	M	1400	$14.7188	Acquired	5013	Direct
2003-09-15	Common Stock	S	100	$26.3	Disposed	4913	Direct
2003-09-15	Common Stock	S	200	$26.36	Disposed	4713	Direct
2003-09-15	Common Stock	S	100	$26.45	Disposed	4613	Direct
2003-09-15	Common Stock	S	100	$26.46	Disposed	4513	Direct
2003-09-15	Common Stock	S	100	$26.5	Disposed	4413	Direct
2003-09-15	Common Stock	S	100	$26.57	Disposed	4313	Direct
2003-09-15	Common Stock	S	300	$26.58	Disposed	4013	Direct
2003-09-15	Common Stock	S	400	$26.6	Disposed	3613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-09-15	Employee Stock Option	$14.7188	M	1400	Disposed	2007-01-18	Common Stock (1400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119	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).