QUAKER CHEMICAL CORP — Director's Dealing 2003

Aug 19, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2003-08-18

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-18	Common Stock	M	500	$14.0625	Acquired	4113	Direct
2003-08-18	Common Stock	S	300	$24.5	Disposed	3813	Direct
2003-08-18	Common Stock	S	200	$24.55	Disposed	3613	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-18	Stock Option	$14.0625	M	500	Disposed	2009-03-15	Common Stock (500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	119	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.