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 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

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1. Name and Address of Reporting Person * LUBRANO DAVID   2. Issuer Name and Ticker or Trading Symbol BITSTREAM INC [BITS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O BITSTREAM INC., 245 FIRST STREET, 17TH FLOOR 3. Date of Earliest Transaction (Month/Day/Year) 03/01/2007 (Street) CAMBRIDGE, MA 02142-1270 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 Class A Common Stock 03/01/2007   X   160,000 A (1) 423,155 D   Class A Common Stock 03/02/2007   P   10,000 A $ 6.76 433,155 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction 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 (Month/Day/Year)

7. Title and Amount of Underlying Securities (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

Stock Warrant

$ 4.94

03/01/2007

X

20,000

03/10/2000

03/10/2007

Class A Common Stock

20,000

$ 4.94

160,000

D

Stock Option

$ 1.59

03/01/2007

X

100,000

01/25/2002

01/25/2009

Class A Common Stock

100,000

$ 1.59

60,000

D

Stock Option

$ 4.75

03/01/2007

X

20,000

02/05/2005

02/05/2012

Class A Common Stock

20,000

$ 4.75

40,000

D

Stock Option

$ 1.79

03/01/2007

X

20,000

02/13/2006

02/13/2013

Class A Common Stock

20,000

$ 1.79

20,000 (2)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
LUBRANO DAVID C/O BITSTREAM INC. 245 FIRST STREET, 17TH FLOOR CAMBRIDGE, MA 02142-1270	X

Signatures

David Lubrano		03/05/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Exercise prices: 20,000 shares at $4.94 per share, 100,000 shares at $1.59 per share, 20,000 shares at $4.75 per share, and 20,000 shares at $1.79 per share.
(2)	The reporting person beneficially owns the following derivatives to purchase Class A Common Stock of the Company (i) an option granted on 09/29/2004 to purchase 10,000 shares at $1.61 per share, which option expires on 09/29/2014 and of which 6,666 is vested and 3,334 vest on 09/29/2007; and (ii)an option granted on 08/03/2006 to purchase 10,000 shares at $4.45 per share, which option expires on 08/03/2016 and of which 2,500 each vest on 08/03/2007, 08/03/2008, 08/03/2009 and 08/03/2010.

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