UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Dec 9, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-12-05

Reporting Person: SOLOWAY GERALD S (Sr. VP of Engineering)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-05	Common Stock	M	417	$9.38	Acquired	1008	Direct
2003-12-05	Common Stock	M	998	$13.00	Acquired	2006	Direct
2003-12-05	Common Stock	M	43	$13	Acquired	2049	Direct
2003-12-05	Common Stock	M	1146	$15	Acquired	3195	Direct
2003-12-05	Common Stock	M	833	$15.72	Acquired	4028	Direct
2003-12-05	Common Stock	M	937	$12.5	Acquired	4965	Direct
2003-12-05	Common Stock	S	4374	$36.55	Disposed	591	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-05	Employee Stock Option (rigt to buy)	$9.38	M	417	Disposed	2009-12-27	Common Stock (417)	Direct
2003-12-05	Employee Stock Option (rigt to buy)	$13.00	M	998	Disposed	2010-02-04	Common Stock (998)	Direct
2003-12-05	Employee Stock Option (rigt to buy)	$13	M	43	Disposed	2010-02-04	Common Stock (43)	Direct
2003-12-05	Employee Stock Option (rigt to buy)	$15	M	1146	Disposed	2010-10-18	Common Stock (1146)	Direct
2003-12-05	Employee Stock Option (rigt to buy)	$15.72	M	833	Disposed	2012-07-25	Common Stock (833)	Direct
2003-12-05	Employee Stock Option (right to buy)	$12.5	M	937	Disposed	2010-12-21	Common Stock (937)	Direct

Footnotes

F1: Vesting Schedule: 1/4 after one year, 1/36 per month thereafter for the remaining shares.

F2: This trade was executed pursuant to Rule 10b5-1 trading plans that were adopted on November 29, 2002 and July 26, 2003.