-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 xCZdnBSkCfkxSCqOi6fw8Q==

<SEC-DOCUMENT>0000899140-03-000803.txt : 20031008
<SEC-HEADER>0000899140-03-000803.hdr.sgml : 20031008
<ACCEPTANCE-DATETIME>20031008162636
ACCESSION NUMBER:		0000899140-03-000803
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031001
FILED AS OF DATE:		20031008

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WALLACH ANDREW W
		CENTRAL INDEX KEY:			0001266162

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14053
		FILM NUMBER:		03933562

	BUSINESS ADDRESS:	
		STREET 1:		CUMBER ASSOCIATES LLC
		STREET 2:		1114 AVENUE OF TYHE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

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>3
<SEQUENCE>1
<FILENAME>wallach_msi3-100803ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>
   <periodOfReport>2003-10-01</periodOfReport>
    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000855683</issuerCik>
        <issuerName>MILESTONE SCIENTIFIC INC/NJ</issuerName>
        <issuerTradingSymbol>MS</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001266162</rptOwnerCik>
            <rptOwnerName>WALLACH ANDREW W</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>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Common Stock, par value $.001 per share</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1798467</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote</value>
            <footnoteId id="F1"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeHolding>
      <securityTitle>
         <value>Warrants</value>
      </securityTitle>
      <conversionOrExercisePrice>
            <footnoteId id="F2"/>
      </conversionOrExercisePrice>
      <exerciseDate>
         <value>2000-01-31</value>
      </exerciseDate>
      <expirationDate>
         <value>2005-01-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>28572</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
           <value>See footnote</value>
            <footnoteId id="F1"/>
         </natureOfOwnership>
      </ownershipNature>
   </derivativeHolding>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> The reporting person is a member of Cumberland Associates LLC, a limited liability company organized under the laws of the State of New York which is engaged in the business of managing, on a discretionary basis, various securities accounts. Cumberland Associates purchased these Securities on behalf of one or more of these accounts (the &quot;Accounts&quot;), and the reporting person disclaims beneficial ownership of these Securities except to the extent of his share in Cumberland Associates' indirect pecuniary interest therein, which pecuniary interest, if any, is limited to incentive fees and/or allocations payable to Cumberland Associates based on a percentage of realized and/or unrealized gains with respect to these Securities held in the Accounts.</footnote>

      <footnote id="F2"> The Warrants are exercisable for Common Stock at a variable exercise price equal to $1.75 per share until December 31, 2000; then $2.50 per share until December 31, 2001; then $5.00 per share until December 31, 2002; then $6.00 per share until December 31, 2003; then $7.00 per share until January 31, 2005.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>/s/ Andrew M. Wallach</signatureName>
      <signatureDate>2003-10-08</signatureDate>
   </ownerSignature>
</ownershipDocument>

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