-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TxpR7gP+csOjHgkHFpoVjM+R7fpeK9DCMBa6O1fdGhnLh3l2SQ4m0GaDwm8jDgfk
 P5/UZw7HJVRitVckR9KLBw==

<SEC-DOCUMENT>0000950138-04-000218.txt : 20040309
<SEC-HEADER>0000950138-04-000218.hdr.sgml : 20040309
<ACCEPTANCE-DATETIME>20040309171949
ACCESSION NUMBER:		0000950138-04-000218
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040305
FILED AS OF DATE:		20040309

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CELLSTAR CORP
		CENTRAL INDEX KEY:			0000913590
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065]
		IRS NUMBER:				752479727
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		1730 BRIERCROFT DR
		CITY:			CARROLLTON
		STATE:			TX
		ZIP:			75006
		BUSINESS PHONE:		972-466-5000

	MAIL ADDRESS:	
		STREET 1:		1730 BRIERCROFT DRIVE
		STREET 2:		LEGAL DEPT.
		CITY:			CARROLLTON
		STATE:			TX
		ZIP:			75006

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ROTH MICHAEL
		CENTRAL INDEX KEY:			0001010207

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22972
		FILM NUMBER:		04658148

	BUSINESS ADDRESS:	
		STREET 1:		10556 N PORT WASHINGTON RD
		CITY:			MEQUON
		STATE:			WI
		ZIP:			53092
		BUSINESS PHONE:		4142411810

	MAIL ADDRESS:	
		STREET 1:		10556 N PORT WASHINGTON RD
		CITY:			MEQUON
		STATE:			WI
		ZIP:			53092

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STARK BRIAN JAY
		CENTRAL INDEX KEY:			0001010208

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22972
		FILM NUMBER:		04658149

	BUSINESS ADDRESS:	
		STREET 1:		3600 SOUTH LAKE DR
		CITY:			ST FRANCIS
		STATE:			WI
		ZIP:			53235
		BUSINESS PHONE:		414 294 7000

	MAIL ADDRESS:	
		STREET 1:		10556 N PORT WASHINGTON RD
		CITY:			MEQUON
		STATE:			WI
		ZIP:			53092
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>mar5cellstar-4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-03-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000913590</issuerCik>
        <issuerName>CELLSTAR CORP</issuerName>
        <issuerTradingSymbol>CLST</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001010207</rptOwnerCik>
            <rptOwnerName>ROTH MICHAEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O STARK INVESTMENTS</rptOwnerStreet1>
            <rptOwnerStreet2>3600 SOUTH LAKE DRIVE</rptOwnerStreet2>
            <rptOwnerCity>ST. FRANCIS</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>53235</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001010208</rptOwnerCik>
            <rptOwnerName>STARK BRIAN JAY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O STARK INVESTMENTS</rptOwnerStreet1>
            <rptOwnerStreet2>3600 SOUTH LAKE DRIVE</rptOwnerStreet2>
            <rptOwnerCity>ST. FRANCIS</rptOwnerCity>
            <rptOwnerState>WI</rptOwnerState>
            <rptOwnerZipCode>53235</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock,$0.01 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>200</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.62</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3743832</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Partnerships</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock,$0.01 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>100</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.61</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3743732</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Partnerships</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock,$0.01 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2004-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5935</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.60</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3737797</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Partnerships</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Persons are the founding members of Staro Asset Management, L.L.C., a Wisconsin limited liability company, which serves: (a) as the managing general partner of Stark Investments Limited Partnership and (b) as the investment manager of Shepherd Investments International Ltd. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Michael A. Roth</signatureName>
        <signatureDate>2004-03-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Brian J. Stark</signatureName>
        <signatureDate>2004-03-09</signatureDate>
    </ownerSignature>
</ownershipDocument>

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