SIEBERT FINANCIAL CORP — Director's Dealing 2004

May 7, 2004

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: SIEBERT FINANCIAL CORP (SIEB)
CIK: 0000065596
Period of Report: 2004-05-03

Reporting Person: Rosendale Jeanne (Exec. VP, Gen. Counsel & C.C.O)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Options to purchase common stock, $.01 par value per share	$4.75	2014-05-03	Common stock, $.01 par value per share (25000)		Direct

Footnotes

F1: These options will vest and become exercisable as to 5,000 shares on each of May 3, 2005, May 3, 2006, May 3, 2007, May 3,
2008 and May 3, 2009.