X0202 4 2007-03-01 0 0001007330 PRG SCHULTZ INTERNATIONAL INC PRGX 0001352497 Sandelman Partners, LP 500 PARK AVENUE 3RD FLOOR NEW YORK NY 10022 0 0 1 0 Common Stock 2007-03-01 4 S 0 167981 11.4938 D 0 I See Note. Common Stock 2007-03-02 4 S 0 25000 12.5505 D 0 I See Note. Common Stock 2007-03-05 4 S 0 28854 12.9369 D 0 I See Note. Common Stock 2007-03-05 4 C 0 61540 6.5 A 7686 I See Note 10% Senior Convertible Notes due 2011 6.5 2007-03-05 4 C 0 400000 0 D 2011-03-15 Common Stock 61540 3285647 I See Note Pursuant to an investment advisory agreement between Sandelman Partners, LP ("Sandelman") and Sandelman Partners Multi-Strategy Master Fund, Ltd., Sandelman has voting and investment (including dispositive) power with respect to the securities reported herein which are owned by Sandelman Partners Multi-Strategy Master Fund, Ltd. Sandelman Partners GP, LLC is the general partner of Sandelman and Jonathan Sandelman is the Managing Member of Sandelman Partners GP, LLC. Each of Sandelman, Sandelman Partners GP, LLC and Jonathan Sandelman expressly disclaims beneficial ownership of the securities noted above, except to the extent of any pecuniary interest of such person in such securities. On March 5, 2007, Sandelman submitted for conversion $400,000 of aggregate principal amount of the 10% Senior Convertible Notes due 2011("Senior Notes"). The Senior Notes are convertible at the option of the holder at any time prior to maturity into shares of Common Stock at the then-effective conversion price for the Senior Notes, subject to the anti-dilution and other adjustments described in the Senior Notes. As of March 5, 2007, the effective conversion price for the Senior Notes was $6.50 per share of Common Stock. The initial conversion price provides an initial conversion rate of approximately 153.85 shares of common stock per $1,000 of principal amount of Senior Notes. On September 15, 2006, the Issuer issued new Senior Notes as in-kind interest on the Senior Notes, of which Sandelman received $173,647. Jonathan Sandelman 2007-03-05