X0202 4 2005-10-31 0 0000895464 MAGNA LAB INC magla.ob 0001008231 KANTER JOEL S 650 MADISON AVENUE 21ST FLOOR NEW YORK NY 10022 1 0 0 0 Class A Common Stock 2005-10-31 4 A 0 142035 5417 A 142035 D Stock Options 0.25 2005-10-31 4 D 0 75000 0 D 2001-01-01 2006-01-01 Class A Common Stock 75000 0 D Represents accrued unpaid compensation forfeited by the reporting person pursuant to a settlement agreement with the issuer. As additional consideration, the reporting person has forfeited options to purchase 75,000 shares of class A common stock of the issuer, representing all issuer stock options owned by the reporting person. Does not include 190,000 shares of class A common stock held by a family foundation. The reporting person has no pecuniary interest in such shares and disclaims beneficial ownership thereof. Represents the cancellation of stock options forfeited by the reporting person as described in footnote 1 above. Joel S. Kanter, by Keith Moskowitz, attorney-in-fact 2005-11-02