1. Name and Address of Reporting Person GRAY, AVRUM G-BAR LIMITED PARTNERSHIP 440 S. LASALLE ST. CHICAGO, IL 60605 2. Date of Event Requiring Statement (Month/Day/Year) 04/21/2003 3. IRS or Social Security Number of Reporting Person (Voluntary) 4. Issuer Name and Ticker or Trading Symbol MATERIAL SCIENCES CORPORATION (MSC) 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) (X) Director ( ) 10% Owner ( ) Officer (give title below) ( ) Other (specify below) 6. If Amendment, Date of Original (Month/Day/Year) 7. 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 Beneficially Owned +------------------------------------------+----------------------+----------------+-----------------------------------------------+ |1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect Beneficial Ownership | | | Securities | Form: | | | | Beneficially Owned | Direct(D) or | | | | | Indirect(I) | | +------------------------------------------+----------------------+----------------+-----------------------------------------------+ Common Stock 0 D TABLE II -- Derivative Securities Beneficially Owned +-----------------------+---------------------+---------------------------------+----------+-------------+-------------------------+ |1.Title of Derivative |2.Date Exercisable |3.Title and Amount of Securities |4.Conver- |5.Ownership |6. Nature of Indirect | | Security | and Expiration Date| Underlying Derivative | sion or | Form of | Beneficial Ownership | | | (Month/Day/Year) | Security | Exercise | Derivative | | | +----------+----------+-----------------------+---------+ Price of | Security: | | | | Date | Expira- | |Amount or| Deri- | Direct(D) or| | | | Exer- | tion | Title |Number of| vative | Indirect(I) | | | | cisable | Date | |Shares | Security | | | +-----------------------+----------+----------+-----------------------+---------+----------+-------------+-------------------------+ Stock Option 04/21/2004 04/21/2013 Common Stock 4420 $9.05 D Explanation of Responses: SIGNATURE OF REPORTING PERSON /s/ AVRUM GRAY DATE 04/22/2003