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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 K0fN1ptMaN30Ca0PyVuMDrGq+BUWS0imDFLjbprRaS51hJ2EJuDLSMbnKV4LcX4X
 VNRbhXnkFXdhmlLJBoHJoQ==

<SEC-DOCUMENT>0000899140-03-000915.txt : 20031105
<SEC-HEADER>0000899140-03-000915.hdr.sgml : 20031105
<ACCEPTANCE-DATETIME>20031105094737
ACCESSION NUMBER:		0000899140-03-000915
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031103
FILED AS OF DATE:		20031105

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CUMBERLAND ASSOCIATES LLC
		CENTRAL INDEX KEY:			0000351262
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14053
		FILM NUMBER:		03977989

	BUSINESS ADDRESS:	
		STREET 1:		1114 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		2125750900

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MILESTONE SCIENTIFIC INC/NJ
		CENTRAL INDEX KEY:			0000855683
		STANDARD INDUSTRIAL CLASSIFICATION:	ORTHOPEDIC, PROSTHETIC & SURGICAL APPLIANCES & SUPPLIES [3842]
		IRS NUMBER:				133545623
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		220 S ORANGE AVE
		STREET 2:		LIVINGSTON CORPORATE PARK
		CITY:			LIVINGSTON
		STATE:			NJ
		ZIP:			07039
		BUSINESS PHONE:		2013793171

	MAIL ADDRESS:	
		STREET 1:		44 KEAN ROAD
		STREET 2:		220 SOUTH ORANGE AVE
		CITY:			LIVINGSTON
		STATE:			NJ
		ZIP:			07039

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	U S OPPORTUNITY SEARCH INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>cumberland_milesto4-110503ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-03</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000855683</issuerCik>
        <issuerName>MILESTONE SCIENTIFIC INC/NJ</issuerName>
        <issuerTradingSymbol>MS</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000351262</rptOwnerCik>
            <rptOwnerName>CUMBERLAND ASSOCIATES LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1114 AVENUE OF THE AMERICAS</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>0</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>1</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Common Stock, par value $.001 per share</value>
      </securityTitle>
      <transactionDate>
         <value>2003-11-03</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>J</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
            <footnoteId id="F1"/>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>182308</value>
         </transactionShares>
         <transactionPricePerShare>
            <footnoteId id="F2"/>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1980775</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>Indirect Nature Required</value>
            <footnoteId id="F3"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> Received from Milestone Scientific, Inc. (the &quot;Issuer&quot;) as consideration for the agreement of Cumberland Associates LLC (&quot;Cumberland&quot;) to a one-year extension of the term of certain promissory notes of the Issuer held by Cumberland.</footnote>

      <footnote id="F2"> Consideration for the shares of Common Stock was Cumberland's agreement to a one-year extension of the term of certain promissory notes of the Issuer held by Cumberland.</footnote>

      <footnote id="F3"> Cumberland is a New York limited liability company and is engaged in the business of managing securities accounts on a discretionary basis. Cumberland has received these securities on behalf of its discretionary accounts and disclaims beneficial ownership of such securities except to the extent of its pecuniary interest herein.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/</signatureName>
      <signatureDate>2003-11-05</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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