X0201 42003-11-19 0000879796 ARI NETWORK SERVICES INC /WI ARIS 0001240271 MCGURK MICHAEL E 11425 W. LAKE PARK DRIVE MILWAUKEE WI 53202 0100VP Technology OperationsStock Option9.002003-11-194D028125D2006-11-01Common Stock281250DStock Option9.1252003-11-194D07500D2010-01-13Common Stock75000DThe option provided for vesting in four equal annual installments beginning on July 31, 1997.On November 19, 2003, the issuer canceled the option pursuant to the issuer's Offer to Exchange Outstanding Option Grants for New Option Grants to be issued no sooner than May 20, 2004. The reporting person will receive a new option covering 2/3 of the number of shares covered by the cancelled option. The per share exercise price of the new option grants will be the fair market value of ARI's common stock on the new option grant date based on the average of the closing bid and asked prices of the common stock on the new option grant date. The option provided for vesting in four equal annual installments beginning on July 31, 2000.Michael E. McGurk2003-11-21