UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Aug 5, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-08-01

Reporting Person: SOPHIE MICHAEL J (Sr. VP of Finance & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-08-01	Common Stock	M	7770	$4.50	Acquired	11772	Direct
2003-08-01	Common Stock	M	2647	$4.50	Acquired	14419	Direct
2003-08-01	Common Stock	M	1583	$9.38	Disposed	16002	Direct
2003-08-01	Common Stock	S	12000	$42.0587	Disposed	4002	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-08-01	Employee Stock Option (right to buy)	$4.50	M	7770	Disposed	2009-09-01	Common Stock (7770)	Direct
2003-08-01	Employee Stock Option (right to buy)	$4.50	M	2647	Disposed	2009-09-01	Common Stock (2647)	Direct
2003-08-01	Employee Stock Option (right to buy)	$9.38	M	1583	Disposed	2009-12-27	Common Stock (1583)	Direct

Footnotes

F1: This trade was executed pursuant to a Rule 10b5-1 trading plan that was adopted on November 18, 2002.

F2: Vesting Schedule: 1/4 after one year; 1/36 per month thereafter for the remaining shares.