QUAKER CHEMICAL CORP — Director's Dealing 2003

Aug 25, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-08-22

Reporting Person: BARRY MICHAEL F (VP & CFO & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-22	Common Stock	M	700	$14.3438	Acquired	7156	Direct
2003-08-22	Common Stock	S	700	$24.9814	Disposed	6456	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-22	Employee Stock Option	$14.3438	M	700	Disposed	2006-03-17	Common Stock (700)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	300	Indirect

Footnotes

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

F2: The option was exercisable in three installments: 50% after 1 year, 25% after 2 years and 25% after 3 years.