UTSTARCOM HOLDINGS CORP. — Director's Dealing 2004

Jan 8, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: UTSTARCOM INC (UTSI)
CIK: 0001030471
Period of Report: 2003-12-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-26	Common Stock	G	100000	—	Disposed	1273087	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1272487	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1271887	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1271287	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1270687	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1270087	Direct
2003-12-05	Common Stock	G	600	—	Disposed	1269487	Direct
2004-01-05	Common Stock	S	85000	$39.8579	Disposed	1080000	Indirect

Footnotes

F1: Transfer of shares to The Rainbow Private Foundation Inc. ("Rainbow") a newly formed private charitable foundation of which the reporting person and his spouse are the sole officers. The foundation has no shareholders. The reporting person disclaims beneficial ownership of the issuer's common stock held by Rainbow.

F2: Transfer of shares to May Wang Chen. The reporting person disclaims beneficial ownership of the issuer's common stock held by May Chen.

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

F4: Transfer of shares to Doris Zhang. The reporting person disclaims beneficial ownership of the issuer's common stock held by Doris Zhang.

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

F6: Transfer of shares to Yadan Wang Chen. The reporting person disclaims beneficial ownership of the issuer's common stock held by Yadan Chen.

F7: Transfer of shares to Hua Shi. The reporting person disclaims beneficial ownership of the issuer's common stock held by Hua Shi.

F8: This trade was made pursuant to Rule 10b5-1 trading plan that was adopted on May 31, 2003.

F9: The reporting person also claims indirectly the following securities: i) 4,868 shares registered in the name of Wu Living Trust; ii) 4,873 shares registered in the name of Ashley Wu Trust-1998; iii) 4,873 shares registered in the name of Richard Wu Trust-1998; and iv) 1,505,500 shares registered in the name of Wu Partners. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

F10: The reporting person disclaims beneficial ownership of the securities held by Stonybrook Investors L.P. except to the extent of his pecuniary interest therein.