-----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,
 ED3Xp5g1VBkW85vJQazBWHKQKOTyX5kRJPwYNf5dfsNc33oDQ4vdnfVeC35DVbNB
 dEFUvLC+zCDWGRw/P1SqLQ==

<SEC-DOCUMENT>0000922423-04-000434.txt : 20040322
<SEC-HEADER>0000922423-04-000434.hdr.sgml : 20040322
<ACCEPTANCE-DATETIME>20040322171332
ACCESSION NUMBER:		0000922423-04-000434
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20031230
FILED AS OF DATE:		20040322

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FIRST NEW YORK SECURITIES LLC /NY
		CENTRAL INDEX KEY:			0001111629

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15288
		FILM NUMBER:		04683079

	BUSINESS ADDRESS:	
		STREET 1:		850 THIRD AVENUE 17TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	MAIL ADDRESS:	
		STREET 1:		850 THIRD AVENUE 17TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETWORK 1 SECURITY SOLUTIONS INC
		CENTRAL INDEX KEY:			0001065078
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		IRS NUMBER:				113027591
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1601 TRAPELO RD
		STREET 2:		RESERVOIR PLACE
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
		BUSINESS PHONE:		7815223400

	MAIL ADDRESS:	
		STREET 1:		1601 TRAPELO RD
		STREET 2:		RESERVOIR PLACE
		CITY:			WALTHAM
		STATE:			MA
		ZIP:			02451
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>kl03027_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2003-12-30</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001065078</issuerCik>
        <issuerName>NETWORK 1 SECURITY SOLUTIONS INC</issuerName>
        <issuerTradingSymbol>NSSI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001111629</rptOwnerCik>
            <rptOwnerName>FIRST NEW YORK SECURITIES LLC /NY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>850 THIRD AVENUE 17TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>566700</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>150000</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>32200</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F4"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                    <footnoteId id="F5"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Securities owned by First New York Securities L.L.C.</footnote>
        <footnote id="F2">Securities owned by Jay Goldstein.</footnote>
        <footnote id="F3">Securities owned by Douglas Lipton.</footnote>
        <footnote id="F4">Securities owned by Mr. Lipton's wife.</footnote>
        <footnote id="F5">Securities owned by Michael Marvin.</footnote>
    </footnotes>

    <remarks>The reporting persons have filed a joint Schedule 13G indicating ownership in the aggregate of more than 10% of the outstanding shares of common stock of the Issuer. Pursuant to Rule 16a-1(a)(4), the filing of this report shall not be deemed an admission that the reporting persons are the beneficial owners of more than 10% of the outstanding shares of common stock of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.</remarks>

    <ownerSignature>
        <signatureName>/s/ Mario Maugeri, Director of Operations</signatureName>
        <signatureDate>2004-03-22</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>kl03027_ex99.txt
<DESCRIPTION>EXHIBIT 99 JOINT FILER INFORMATION
<TEXT>
                             Joint Filer Information


Name:                     Jay Goldstein

Address:                  1326 Crossing Way
                          Wayne, NJ 07470

Designated Filer:         First New York Securities L.L.C.

Issuer (Ticker Symbol):   Network-1 Security Solutions, Inc. (NSSI)

Date of Event
Requiring Statement:      December 30, 2003

Signature:                /s/ Jay Goldstein
                          -------------------

Date:                     March 22,  2004

<PAGE>

                             Joint Filer Information


Name:                     Douglas Lipton

Address:                  1225 Park Avenue, Apt. 2A
                          New York, New York 10128

Designated Filer:         First New York Securities L.L.C.

Issuer (Ticker Symbol):   Network-1 Security Solutions, Inc. (NSSI)

Date of Event
Requiring Statement:      December 30, 2003

Signature:                /s/ Douglas Lipton
                          ---------------------

Date:                     March 22,  2004

<PAGE>

                             Joint Filer Information


Name:                     Michael Marvin

Address:                  352 East 89th Street, Apt. D
                          New York, New York 10128

Designated Filer:         First New York Securities L.L.C.

Issuer (Ticker Symbol):   Network-1 Security Solutions, Inc. (NSSI)

Date of Event
Requiring Statement:      December 30, 2003

Signature:                /s/ Michael Marvin
                          -----------------------

Date:                     March 22,  2004




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
