UTSTARCOM HOLDINGS CORP. — Director's Dealing 2003

Jul 31, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-07-25

Reporting Person: WU YING (Director, Executive VP & Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-07-25	Common Stock	G	1164000	—	Disposed	1423087	Direct
2003-07-25	Common Stock	G	1164000	—	Acquired	1423087	Direct
2003-07-25	Common Stock	G	0	—	Disposed	1423087	Direct

Footnotes

F1: Transfer of shares to Stonybrook Investors, L.P., ("Stonybrook") a newly formed family limited partnership of which the reporting person and his spouse are the sole general partners and the reporting person's spouse and minor children are the sole limited partners. The reporting person disclaims beneficial ownership of the issuer's common stock held by Stonybrook except to the extent of his pecuniary interest therein.

F2: Represents the gifts of limited partnership interests in Stonybrook to the reporting person's spouse and minor children.

F3: Since the reporting person's last report, i) 36,000 shares previously held by the reporting person indirectly by trusts for the benefit of the reporting person's minor children of which the reporting person is the trustee have been transferred to Stonybrook, for estate planning purposes; and ii) 4,864 shares previously held by the reporting person indirectly through family trusts of which the reporting person is the trustee have been transferred to the Wu Living Trust of which the reporting person is the sole trustee.

F4: The reporting person also claims indirectly the following securities: i) 1,200,000 shares registered in the name of Stonybrook Investors L.P.; ii) 4,868 shares registered in the name of Wu Living Trust; iii) 4,873 shares registered in the name of Ashley Wu Trust-1998; iv) 4,873 shares registered in the name of Richard Wu Trust-1998; and v) 1,505,500 shares registered in the name of Wu Partners.