-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Pi0K82TUhPI5cQM7hkamsVB/ILpEHdjXUMU8NfeHkXD3ZfKT8PO71A5jZqlJMHOQ
 WBTLb3LTQ6CdILe3EBddkg==

<SEC-DOCUMENT>0000910680-04-000088.txt : 20040130
<SEC-HEADER>0000910680-04-000088.hdr.sgml : 20040130
<ACCEPTANCE-DATETIME>20040130160753
ACCESSION NUMBER:		0000910680-04-000088
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040130

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SHENHAR ARIEL
		CENTRAL INDEX KEY:			0001123602

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11140
		FILM NUMBER:		04556091

	BUSINESS ADDRESS:	
		STREET 1:		C/O MEDIVISION
		STREET 2:		PO BOX 45 INDUSTRIAL PARK
		CITY:			YOKNEAM ISRAEL

	MAIL ADDRESS:	
		STREET 1:		C/O MEDIVISION
		STREET 2:		PO BOX 45 INDUSTRIAL PARK
		CITY:			YOKNEAM ISRAEL

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OPHTHALMIC IMAGING SYSTEMS
		CENTRAL INDEX KEY:			0000885317
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				943035367
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		221 LATHROP WAY
		STREET 2:		SUITE 1
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95815
		BUSINESS PHONE:		9166462020

	MAIL ADDRESS:	
		STREET 1:		221 LATHROP WAY
		STREET 2:		SUITE 1
		CITY:			SACRAMENTO
		STATE:			CA
		ZIP:			95815

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OPHTHALMIC IMAGING SYSTEMS INC
		DATE OF NAME CHANGE:	19930328
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>f5ashenhar1203_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2003-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000885317</issuerCik>
        <issuerName>OPHTHALMIC IMAGING SYSTEMS</issuerName>
        <issuerTradingSymbol>OISI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001123602</rptOwnerCik>
            <rptOwnerName>SHENHAR ARIEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O OPHTHALMIC IMAGING SYSTEMS</rptOwnerStreet1>
            <rptOwnerStreet2>221 LATHROP WAY, SUITE I</rptOwnerStreet2>
            <rptOwnerCity>SACRAMENTO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>95815</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chief Financial Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.41</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-04-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>150000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.41</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-04-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>150000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>150000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Options to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>.41</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2003-04-10</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>.41</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2013-04-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Exercisable immediately as to 125,000 shares and exercisable as to the remaining shares on September 9, 2003.</footnote>
        <footnote id="F2">Exercisable immediately as to 8,333 shares and exercisable in five equal semi-annual installments as to the remaining shares, beginning October 1, 2003.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ariel Shenhar</signatureName>
        <signatureDate>2004-01-29</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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