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
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1. Name and Address of Reporting Person*
LONSTEIN, ZACH
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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
07/99
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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 (X) 10% Owner
(X) Officer (give title ( ) Other (specify below)
below)
CEO & Chairman
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7. Individual or Joint/Group Reporting (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) Beneficial
Day/Year) ----------- ----------------------------- Owned at End or Indirect Ownership
(A) of Month (I)
or
Code V Amount (D) Price (Instr. 3 & 4) (Instr. 4) (Instr. 4)
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Common Stock, $0.01
par value/share 7/13/99 S 20,000 D $10.375
SAME 7/13/99 S 10,000 D $10.503
SAME 7/15/99 G 2,500 D
SAME 7/15/99 G 2,500 D 1,624,421 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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Employee Common
stock option various stock 125,000 D
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal /s/ Zach Lonstein 8/10/99
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
in this form are not required to respond unless the form displays a currently
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