UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Aug 11, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-07-22

Reporting Person: HORNER LARRY D /FA (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-22	Common Stock	M	7500	$12.50	Acquired	20000	Direct
2003-07-22	Common Stock	M	12500	$13	Acquired	32500	Direct
2003-07-22	Common Stock	S	12500	$41.54	Disposed	20000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-07-22	Employee Stock Option (right to buy)	$12.50	M	7500	Disposed	2010-12-21	Common Stock (7500)	Direct
2003-07-22	Employee Stock Option (right to buy)	$13	M	12500	Disposed	2010-01-31	Common Stock (12500)	Direct