X0101 4 2003-06-03 0000879703 DIRECT INSITE CORP DIRI 0001165125 METROPOLITAN VENTURE PARTNERS II LP 0 0 1 0 Series A Convertible Preferred Stock, par value $0.0001 per 1.40 2003-06-03 4 P 0 17587 14.00 A 2003-06-03 2005-09-25 Common Stock 175870 134410 D The reported number of shares of Common Stock underlying the Series A Convertible Preferred Stock reflects the initial conversion rate of 1-for-10 (the ratio of the current liquidation value of the Series A Convertible Preferred Stock of $14.00, to the current conversion price of $1.40) pursuant to the terms of the Series A Preferred Stock. Metropolitan Venture Partners (Advisors), L.P. ("MetVP. Advisors") is the general partner of MetVP. Metropolitan Venture Partners Corp. ("MetVP Corp") is the general partner of MetVP Advisors. MetVP Advisors and MetVP Corp. may be deemed, pursuant to Rule 13d-3 under the Exchange Act, to beneficially own all of the securities disclosed on this Form 4. Pursuant to Rule 16a-1(a)(4) under the Exchange Act, this filing shall not be deemed an admission that MetVP Advisors or MetVP Corp, for purposes of Section 16 of the Exchange Act or otherwise, are the beneficial owners of the securities beneficially owned by MetVP in excess of the amount of their respective pecuniary interests in such securities, and MetVP Advisors and MetVP Corp disclaim beneficial ownership of such shares. /s/ Michael Levin 2003-06-06