-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KBLTu3Sp0CU3iHjS51+03GVEyPyRBIq29Tmv+Qr2o4iL1Kh+4KoLqGYDUljG4Wt8
 manuiDXv+I3kAFms6FuOCA==

<SEC-DOCUMENT>0001013594-09-000745.txt : 20090323
<SEC-HEADER>0001013594-09-000745.hdr.sgml : 20090323
<ACCEPTANCE-DATETIME>20090323125624
ACCESSION NUMBER:		0001013594-09-000745
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20081231
FILED AS OF DATE:		20090323
DATE AS OF CHANGE:		20090323

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ISCO INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000888693
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				363688459
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1001 CAMBRIDGE DRIVE
		CITY:			ELK GROVE VILLAGE
		STATE:			IL
		ZIP:			60007
		BUSINESS PHONE:		8473919400

	MAIL ADDRESS:	
		STREET 1:		1001 CAMBRIDGE DRIVE
		CITY:			ELK GROVE VILLAGE
		STATE:			IL
		ZIP:			60007

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ELLIOTT ASSOCIATES, L.P.
		CENTRAL INDEX KEY:			0000904495
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-22302
		FILM NUMBER:		09698279

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2125062999

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER NAME:	
		FORMER CONFORMED NAME:	ELLIOTT ASSOCIATES LP
		DATE OF NAME CHANGE:	19930513
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>iscofm5-032309_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2008-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000888693</issuerCik>
        <issuerName>ISCO INTERNATIONAL INC</issuerName>
        <issuerTradingSymbol>ISOO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000904495</rptOwnerCik>
            <rptOwnerName>ELLIOTT ASSOCIATES, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>712 FIFTH AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10019</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>9 1/2% Secured Convertible Note Due August 1, 2010</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.20</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-10-24</value>
                <footnoteId id="F2"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>450000</value>
                    <footnoteId id="F2"/>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>450000</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-10-24</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-08-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2250000</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>450000</value>
                    <footnoteId id="F2"/>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>9 1/2% Secured Convertible Note Due August 1, 2010</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0.20</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2008-12-23</value>
                <footnoteId id="F4"/>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionTotalValue>
                    <value>450000</value>
                    <footnoteId id="F4"/>
                </transactionTotalValue>
                <transactionPricePerShare>
                    <value>450000</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2008-12-23</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-08-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2250000</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <valueOwnedFollowingTransaction>
                    <value>450000</value>
                    <footnoteId id="F4"/>
                </valueOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On August 18, 2008, the issuer and Manchester Securities Corp. (&quot;Manchester&quot;), a wholly-owned subsidiary of Elliott
 Associates, L.P. (&quot;Elliott Associates&quot;), entered into a loan agreement.  Under the terms of the loan agreement, the issuer
 may draw down, from time to time, up to $1,350,000 principal amount of loans.   Each draw down under of the line of credit
 is evidenced by a 9 1/2% Secured Convertible Note Due August 1, 2010 (the &quot;Convertible Note&quot;).  The Convertible Note is
 convertible into shares of common stock at a fixed conversion price of $0.20 per share.  The number of shares into which the
 Convertible Note converts shall be adjusted according to typical anti-dilution provisions.  More information about the
 Convertible Notes can be found in the Form 8-K filed by the issuer with the Securities and Exchange Commission on August 18,
 2008.</footnote>
        <footnote id="F2">On October 24, 2008, the issuer drew down $450,000 on the Convertible Note.  This $450,000 is convertible into 2,250,000
 shares of common stock.</footnote>
        <footnote id="F3">Elliott Associates owns the Convertible Note reported on this Form 4 indirectly through Manchester.</footnote>
        <footnote id="F4">On December 23, 2008, the issuer drew down $450,000 on the Convertible Note.  This $450,000 is convertible into 2,250,000
 shares of common stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Elliot Greenberg, VP of Braxton Associates, Inc., as GP of Elliott Capital Advisors, L.P., as GP of Elliott Associates, L.P.</signatureName>
        <signatureDate>2009-03-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----