4 1 e14110_form4.txt FORM 4 ------ ---------------------------- FORM 4 OMB APPROVAL ------ ---------------------------- OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response.......0.5 ---------------------------- U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |X| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). -------------------------------------------------------------------------------- 1. Name and Address of Reporting Person* NV Partners II LP ---------------------------------------------- (Last) (First) (Middle) c/o Andrew Garman 98 Floral Avenue ---------------------------------------------- (Street) Murry Hill NJ 07974 ---------------------------------------------- (City) (State) (Zip) -------------------------------------------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol DSET Corporation (DSET.OB) -------------------------------------------------------------------------------- 3. IRS Identification Number of Reporting Person, if an entity (Voluntary) -------------------------------------------------------------------------------- 4. Statement for Month/Day/Year 12/30/02 -------------------------------------------------------------------------------- 5. If Amendment, Date of Original (Month/Day/Year) -------------------------------------------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) ___ Director _X_ 10% Owner ___ Officer (give title below) ___ Other (specify below) -------------------------------------------------------------------------------- 7. Individual or Joint/Group Filing (Check Applicable Line) ___ Form Filed by One Reporting Person _X_ Form Filed by More than One Reporting Person -------------------------------------------------------------------------------- Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned --------------------------------------------------------------------------------

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). Potential 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. (Over) SEC 1474 (9-02) FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

Explanation of Responses: (1) The reporting persons (the "Reporting Persons") consist of NV Partners II LP ("NVP"), New Venture Partners LLC ("NVP LLC"), Thomas Uhlman, Stephen Socolof and Andrew Garman. The securities are owned directly by NVP and may be deemed to be owned indirectly by each of NVP LLC, as general partner of NVP, and Messrs. Garman, Uhlman and Socolof, as managing members of NVP LLC. Each Reporting Person disclaims beneficial ownership of the securities reported herein except with respect to such Reporting Person's pecuniary interest in such securities. /s/ Andrew Garman 1/02/03 -------------------------------------------- ------------ Andrew Garman **Signature of Reporting Person Date Managing Member New Venture Partners LLC **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 Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. Page 2

DSET CORP 4