-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LBQFWVC9q1G5XEoVS+epCwNqct8Rptu/T6h2z/NXXkyvgvhTg9d4h7GKGqLGSjNp
 GsajSurwZdr1F7cfO7sxxQ==

<SEC-DOCUMENT>0001209191-03-015326.txt : 20030804
<SEC-HEADER>0001209191-03-015326.hdr.sgml : 20030804
<ACCEPTANCE-DATETIME>20030804171145
ACCESSION NUMBER:		0001209191-03-015326
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030804
FILED AS OF DATE:		20030804

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DRASNER FRED
		CENTRAL INDEX KEY:			0001202840

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16431
		FILM NUMBER:		03821381

	BUSINESS ADDRESS:	
		STREET 1:		APPLIED GRAPHICS TECHNOLOGIES
		STREET 2:		450 W. 33RD ST.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APPLIED GRAPHICS TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0001006030
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MAILING, REPRODUCTION, COMMERCIAL ART & PHOTOGRAPHY [7330]
		IRS NUMBER:				133864004
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		450 W 33RD ST
		STREET 2:		11TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001
		BUSINESS PHONE:		2127166600

	MAIL ADDRESS:	
		STREET 1:		463 BARELL AVE
		CITY:			CARLSTADT
		STATE:			NJ
		ZIP:			07072
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>y88940_bny001fd.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-08-04</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0001006030</issuerCik><issuerName>APPLIED GRAPHICS TECHNOLOGIES INC</issuerName>        <issuerTradingSymbol>AGD</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0001202840</rptOwnerCik><rptOwnerName>DRASNER FRED</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1></rptOwnerStreet1><rptOwnerStreet2>450 WEST 33RD STREET</rptOwnerStreet2><rptOwnerCity>NEW YORK</rptOwnerCity><rptOwnerState>NY</rptOwnerState><rptOwnerZipCode>NY</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Chairman and CEO</officerTitle></reportingOwnerRelationship></reportingOwner><no
nDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-08-04</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>U</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>440100</value></transactionShares><transactionPricePerShare><value>0.85</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeTransaction><securityTitle><value>Stock Option (Right to Buy)</value></securityTitle><conversionOrExercisePrice><value>0.41</value>
</conversionOrExercisePrice><transactionDate><value>2003-08-04</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>D</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F1" /></transactionCoding><transactionAmounts><transactionShares><value>250000</value></transactionShares><transactionPricePerShare><value>0.85</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2002-05-13</value></exerciseDate><expirationDate><value>2012-05-13</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>250000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>0</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value
></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">Options cancelled in connection with the closing of a tender offer for all of the Registrant's outstanding shares.</footnote></footnotes><ownerSignature><signatureName>/s/ Fred Drasner</signatureName><signatureDate>2003-08-04</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----