UTSTARCOM HOLDINGS CORP. — Director's Dealing 2004

Mar 23, 2004

SEC Form 4/A — Form 4/A

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-12-23

Reporting Person: LU HONG LIANG (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-23	Common Stock	G	130000	—	Disposed	2730625	Direct
2003-12-23	Common Stock	G	130000	—	Acquired	2730625	Direct
2003-12-23	Common Stock	G	500	—	Disposed	2730125	Direct
2003-12-23	Common Stock	G	500	—	Disposed	2729625	Direct
2004-01-02	Common Stock	S	10000	$38.7474	Disposed	2719625	Direct

Footnotes

F1: Transfer of shares to the Lu Charitable Remainder Trust dated December 15, 2003, a newly formed charitable remainder trust of which the reporting person and his spouse are the trustees.

F2: This amount represents the following shares indirectly and directly owned by the reporting person: (i) 2,360,961 shares directly owned; (ii) 5,332 shares registered in the name of Benjamin Lu; (iii) 5,332 shares registered in the name of Melissa Lu; (iv) 229,000 shares registered in the name of The Lu Family Limited Partnership; and (v) 130,000 shares registered in the name of Lu Charitable Remainder Trust dated December 15, 2003.

F3: Transfer of shares to Man Li Lu. The reporting person disclaims beneficial ownership of the issuer's common stock held by Man Lu.

F4: This amount represents the following shares indirectly and directly owned by the reporting person: (i) 2,360,461 shares directly owned; (ii) 5,332 shares registered in the name of Benjamin Lu; (iii) 5,332 shares registered in the name of Melissa Lu; (iv) 229,000 shares registered in the name of The Lu Family Limited Partnership; and (v) 130,000 shares registered in the name of Lu Charitable Remainder Trust dated December 15, 2003.

F5: Transfer of shares to Miki Riki. The reporting person disclaims beneficial ownership of the issuer's common stock held by Miki Riki.

F6: This amount represents the following shares indirectly and directly owned by the reporting person: (i) 2,359,961 shares directly owned; (ii) 5,332 shares registered in the name of Benjamin Lu; (iii) 5,332 shares registered in the name of Melissa Lu; (iv) 229,000 shares registered in the name of The Lu Family Limited Partnership; and (v) 130,000 shares registered in the name of Lu Charitable Remainder Trust dated December 15, 2003.

F7: This trade was executed pursuant to Rule 10b5-1 trading plan that was adopted on May 30, 2003.

F8: This amount represents the following shares indirectly and directly owned by the reporting person: (i) 2,349,961 shares directly owned; (ii) 5,332 shares registered in the name of Benjamin Lu; (iii) 5,332 shares registered in the name of Melissa Lu; (iv) 229,000 shares registered in the name of The Lu Family Limited Partnership; and (v) 130,000 shares registered in the name of Lu Charitable Remainder Trust dated December 15, 2003.