UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Dec 3, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-12-01

Reporting Person: TOY THOMAS J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-01	Common Stock	M	10000	$18	Acquired	10000	Direct
2003-12-01	Common Stock	S	10000	$37.8339	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-01	Stock Option (right to buy)	$18	M	10000	Disposed	2009-12-26	Common Stock (10000)	Direct

Footnotes

F1: This trade was executed pursuant to a Rule 10b5-1 trading plan that was adopted in June 2003.

F2: Vesting Schedule: 100% of the option shall be exercisable on March 2, 2000.