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TELOS CORP Director's Dealing 2005

Mar 29, 2005

32821_dirs_2005-03-29_47a0e8da-f595-47e0-ba59-9adbbb7f4cad.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELOS CORP (TLSRP)
CIK: 0000320121
Period of Report: 2005-03-17

Reporting Person: VALUE PARTNERS LTD /TX/ (10% Owner)
Reporting Person: EWING & PARTNERS (10% Owner)
Reporting Person: EWING TIMOTHY G (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-03-17	12% Cumulative Exchangeable Redeemable Preferred Stock	S	153000	$5.85	Disposed	561317	Direct