UTSTARCOM HOLDINGS CORP. — Director's Dealing 2004

May 10, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2004-01-02

Reporting Person: CHOU SHAO NING J (Sr. Ex. VP and COO of China)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-01-02	Common Stock	G	44989	—	Disposed	48957	Direct
2004-04-30	Common Stock	J	1464	$14.518	Acquired	50421	Direct

Footnotes

F1: Transfer of shares to ex-wife Jane Chen pursuant to a divorce settlement. The reporting person disclaims beneficial ownership of the issuer's common stock held by Jane Chen.

F2: Shares acquired through the Issuer's 2000 Employee Stock Purchase Plan.