UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Oct 29, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-10-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-10-28	Common Stock	M	998	$13.00	Acquired	10961	Direct
2003-10-28	Common Stock	M	1875	$12.5	Acquired	12836	Direct
2003-10-28	Common Stock	S	2873	$32.6244	Disposed	9963	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-10-28	Employee Stock Option (rigt to buy)	$13.00	M	998	Disposed	2010-02-04	Common Stock (998)	Direct
2003-10-28	Employee Stock Option (rigt to buy)	$12.5	M	1875	Disposed	2010-12-21	Common Stock (1875)	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 a Rule 10b5-1 trading plan that was adopted on November 29, 2002.