X0201 42003-09-1000000314727HANDLEMAN CO /MI/ HDL0001248029REUSS LLOYD E500 KIRTS BOULEVARDTROYMI480841000Common stock one cent par value2003-09-104A080415.54A11043DDirector stock option (right to buy)15.542003-09-104A0250015.54A2013-09-10Common stock one cent par value25002500DGrant in payment of part of the September 2003 through August 2004 Director compensation. The shares vest 100% on September 1, 2004.The option vests in three equal annual installments beginning on September 1, 2004.The option exercise price is $15.54 per share.Lloyd E. Reuss by Kenneth P. Kartje Attorney-In-Fact2003-09-12