FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         	UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB Number: 3235-0287
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                      	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	                      	

(Print or Type Responses)
1. Name and Address of Reporting Person *

RAMAGE EVERETTE R	2. Issuer Name and Ticker or Trading Symbol

ADTRAN INC [ ADTN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
VP Engineering, EN Division /	
(Last)          (First)          (Middle)
	3. Date of Earliest Transaction (MM/DD/YYYY)

7/23/2003		
(Street)

(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code
(Instr. 8)	4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)	
			Code	V	Amount	(A) or (D)	Price				
Common Stock  	7/23/2003  	 	M  	 	5000  	A	$25.375  	5000  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	5000  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	5099  	A	$21.313  	5099  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	5099  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	2901  	A	$21.313  	2901  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	2901  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	16000  	A	$36.063  	16000  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	16000  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	12497  	A	$25.50  	12497  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	12497  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	1838  	A	$17.39  	1838  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	1838  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	1162  	A	$17.39  	1162  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	1162  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	3296  	A	$17.39  	3296  	D  	
 	
Coimmon Stock  	7/23/2003  	 	S  	 	3296  	D	$47.756  	0  	D  	
 	
Common Stock  	7/23/2003  	 	M  	 	10768  	A	$17.39  	10768  	D  	
 	
Common Stock  	7/23/2003  	 	S  	 	10768  	D	$47.756  	0  	D  	0  	

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.		
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	SEC 1474 (9-02)	

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code
(Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)	6. Date Exercisable and Expiration Date	7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)	8. Price of Derivative Security
(Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)	
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares					
Incentive Stock Option (right to buy)  	$17.39  	7/23/2003  	 	M  	 	 	1838   	8/30/2002  	7/11/2006  	Common Stock  	1838  	0  	0  	D  	
 	
Incentive Stock Option (right to buy)  	$17.39  	7/23/2003  	 	M  	 	 	3296   	8/30/2002  	7/12/2010  	Common Stock  	3296  	0  	4687  	D  	
 	
Incentive Stock Optiion (right to buy)  	$21.313  	7/23/2003  	 	M  	 	 	5099   	9/17/1999  	9/17/2008  	Common Stock  	5099  	0  	2000  	D  	
 	
Incentive Stock Option (right to buy)  	$25.375  	7/23/2003  	 	M  	 	 	5000   	7/16/1998  	7/16/2007  	Common Stock  	5000  	0  	0  	D  	
 	
Non-Qualified Stock Option (right to buy)  	$17.39  	7/23/2003  	 	M  	 	 	1162   	8/30/2002  	7/11/2006  	Common Stock  	1162  	0  	0  	D  	
 	
Non-Qualified Stock Option (right to buy)  	$17.39  	7/23/2003  	 	M  	 	 	10768   	8/30/2002  	7/12/2010  	Common Stock  	10768  	0  	0  	D  	
 	
Non-Qualified Stock Option (right to buy)  	$21.313  	7/23/2003  	 	M  	 	 	2901   	9/17/1999  	9/17/2008  	Common Stock  	2901  	0  	0  	D  	
 	
Non-Qualified Stock Option (right to buy)  	$25.50  	7/23/2003  	 	M  	 	 	12497   	7/23/2002  	7/23/2011  	Common Stock  	12497  	0  	8578  	D  	
 	
Non-Qualified Stock Option (right to buy)  	$36.063  	7/23/2003  	 	M  	 	 	16000   	7/15/2000  	7/15/2009  	Common Stock  	16000  	0  	4000  	D  	

Explanation of Responses:

Reporting Owners

Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
RAMAGE EVERETTE R,  			VP Engineering, EN Division		

Signatures

Everette R. Ramage		7/24/2003	
** Signature of Reporting Person		Date
	
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).	
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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