Volume 16 number 5 (April/May 2003) of Pen World magazine. This is the annual "paper issue" and also contains the Readers' Choice Award winners. The cover features a Jorg Hysek fountain pen in black carbon fiber and rose gold.

This issue contains these feature articles: Contemporary Hysek by Marie A. Picon; Boston Safety by L. Michael Fultz & Patricia Lotfi; Monarch Rules! by Cheryl Roberts; and Readers' Choice Awards by Marie A. Picon. It also has the usual departments: Insight, Post, Intelligence, Calendar, Current, To Buy For, Profile, Artistry, Pen Nib-bles, Protocol, Sources, Network and Last Word.