QUAKER CHEMICAL CORP — Director's Dealing 2004

Apr 19, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: QUAKER CHEMICAL CORP (KWR)
CIK: 0000081362
Period of Report: 2004-04-15

Reporting Person: BENOLIEL D JEFFRY (VP, Secretary & GC)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-30	Common Stock	G	800	$0.00	Acquired	6200	Indirect
2004-01-30	Common Stock	G	800	$0.00	Acquired	4075	Indirect
2004-01-30	Common Stock	G	800	$0.00	Acquired	3625	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-04-15	Stock Options (Right to buy)	$26.05	A	4700	Acquired	2011-04-15	Common Stock (4700)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40240	Direct
Common Stock	15520	Indirect
Common Stock	11	Indirect

Footnotes

F1: Information based on 3/31/04 Plan Statement.

F2: Employee stock option (right to buy) exercisable in three annual installments (75% after year one; 15% after year two; and 10% after year three).