X0201 32003-05-0100000879993DUSA PHARMACEUTICALS INC DUSA0001257798CHAKOUTIS PETER M25 UPTON DRIVEWILMINGTONMA018870100Contrlr/Princ. Acctng OfcrIncentive Stock Options16.9382001-12-182010-12-18Common Stock12000DIncentive Stock Options3.8712003-04-262012-04-26Common Stock5000DIncentive Stock Options1.62004-03-132013-03-13Common Stock7500DOption vests at the rate of 25% per year on the first, second, third and fourth anniversaries of December 18, 2000, the date of grant.Option vests at the rate of 25% per year on the first, second, third and fourth anniversaries of April 26, 2002, the date of grant.Option vests at the rate of 25% per year on the first, second, third and fourth anniversaries of March 13, 2003, the date of grant./s/ Peter M. Chakoutis2003-08-06