FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17 (a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the
Investment Company Act of 1940
( ) Check this box if no longer subject to OMB APPROVAL
Section 16. Form 4 or Form 5 obligations ------------------------
may continue. See Instruction 1(b) OMB No.: 3235-0287
Section 16. Expires: Sept. 30, 98
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hours per response ..0.5
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1. Name and Address of Reporting Person*
Wallach Robert
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(Last) (First) (Middle)
2 Christie Heights Street
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(Street)
Leonia NJ 07605
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading symbol
Computer Outsourcing Services, Inc. (COSI)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
September 1998
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5. If Amendment, Date of Original (Month/Year)
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<PAGE>
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
(X) Director ( ) 10% Owner
(X) Officer (give title ( ) Other (specify below)
below)
President
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7. Individual or Joint/Group Filing (Check applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More Than One Reporting Person
<TABLE>
<CAPTION>
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<S> <C> <C> <C> <C> <C> <C>
1. Title of Security 2. Transac- 3. Transac- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
(Instr. 3) tion Date tion Code or Disposed of (D) Securities Form: Indirect
(Month/ (Instr. 8) (Instr. 3, 4 and 5) Beneficially Direct (D) Bene-
Day/Year) ------------- ---------------------------- Owned at or ficial
(A) End of Month Indirect (I) Ownership
or (Instr. 3 & (Instr. 4) (Instr.
Code V Amount (D) Price 4) 4)
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Common stock, par
value $0.01 per
share 09/01/98 P 1,000 A $8.50
Common stock, par
value $0.01 per
share 09/02/98 P 250 A $8.50 402,750 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
<PAGE>
<TABLE>
<CAPTION>
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1. Title of 2. Conver- 3. Trans- 4. Trans- 5. Number 6. Date 7. Title 8. Price 9. Num- 10. Own- 11. Na-
Derivative sion or action action of Deri- Exer- & Amount of De- ber of ership ture of
Security Exercise Date Code vative cisable of Under rivative Deri- Form Indi-
(Instr. Price of (Month/ (Instr. Securi- and Ex- lying Security vative of Der- rect
3) Deriva- day/ 8) tives piration Securi- (Instr. Secu- ivative Bene-
tive year) Accquir- Date ty 5) rities Securi- ficial
Security ed (A) (Month/ (Instr. Bene- ty: Owner-
or Dis- Day/ 3 and 4) ficial- Direct ship
posed Year) ly Owned (D) or (Instr.
of (D) at End Indirect 4)
(Instr. of Month (I)
3, 4, (Instr. (Instr.
and 5) 4) 4)
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Code V (A) (D) Date Ex- Title Amount
Exer- pira- or Num-
cis- tion ber of
able date shares
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Robert Wallach 10/20/98
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------- ----------
** Signature of Reporting Person Date
</TABLE>
Potential persons who are to respond to the collection of information contained
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