EXHIBIT 31.2
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                        SECTION 302 C.F.O. CERTIFICATION


        I,  Kenneth  H.  Globus,   President  and  Chief  Financial  Officer  of
United-Guardian, Inc., certify that:

1.  I have reviewed  this  quarterly  report on Form 10-QSB of  United-Guardian,
    Inc.;

2.  Based on my knowledge,  this report does not contain any untrue statement of
    a  material  fact or omit to state a  material  fact  necessary  to make the
    statements made, in light of the  circumstances  under which such statements
    were made, not misleading with respect to the period covered by this report;

3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
    information included in this report, fairly present in all material respects
    the financial  condition,  results of operations and cash flows of the small
    business issuer as of, and for, the periods presented in this report;

4.  The small business issuer's other certifying  officers and I are responsible
    for  establishing  and  maintaining  disclosure  controls and procedures (as
    defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal  control
    over  financial  reporting  (as defined in Exchange Act Rules  13a-15(f) and
    15d-15(f)) for the small business issuer and have :

    a)  Designed  such  disclosure  controls  and  procedures,  or  caused  such
disclosure  controls and  procedures to be designed  under our  supervision,  to
ensure  that  material  information  relating  to  the  small  business  issuer,
including its  consolidated  subsidiaries,  is made known to us by others within
those  entities,  particularly  during the period in which this  report is being
prepared;

    b) Designed such internal control over financial  reporting,  or caused such
internal control over financial  reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial  statements for external purposes in accordance
with generally accepted accounting principles

    c) Evaluated the  effectiveness  of the small business  issuer's  disclosure
controls and procedures and presented in this report our  conclusions  about the
effectiveness  of the disclosure  controls and procedures,  as of the end of the
period covered by this report based on such evaluation; and

    d)  Disclosed  in this  report  any  change in the small  business  issuer's
internal  control  over  financial  reporting  that  occurred  during  the small
business issuer's most recent fiscal quarter (the small business issuer's fourth
fiscal quarter in the case of an annual report) that has materially affected, or
is reasonably likely to materially  affect, the small business issuer's internal
control over financial reporting; and



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5.  The  small  business  issuer's  other  certifying   officer(s)  and  I  have
    disclosed,  based on our most recent  evaluation  of internal  control  over
    financial  reporting,  to the small business issuer's auditors and the audit
    committee of the small  business  issuer's  board of  directors  (or persons
    performing the equivalent functions):

    a) All  significant  deficiencies  and material  weaknesses in the design or
operation of internal  control over  financial  reporting  which are  reasonably
likely to  adversely  affect  the small  business  issuer's  ability  to record,
process, summarize and report financial information; and

    b) Any fraud,  whether or not material,  that  involves  management or other
employees who have a significant  role in the small business  issuer's  internal
control over financial reporting.


Date:  November 11, 2003               /s/ Kenneth H. Globus
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                                       Kenneth H. Globus
                                       President and Chief Financial Officer