Female Health Co - Statement of Changes in Beneficial Ownership (4)

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	OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2008 Estimated average burden hours per response... 0.5
	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(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * KERBER JAMES R	2. Issuer Name and Ticker or Trading Symbol FEMALE HEALTH CO [ FHCO ]	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) 8547 EAST ARAPAHOE ROAD, NO. J217	3. Date of Earliest Transaction (MM/DD/YYYY) 3/13/2008
(Street) ENGLEWOOD, CO 80112 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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
Common Stock, par value $.01 per share	3/13/2008		S		9800	D	$2.35	388066	D
Common Stock, par value $.01 per share	3/14/2008		M		80000	A	$1.4	468066	D
Common Stock, par value $.01 per share	3/14/2008		M		30000	A	$1.66	498066	D
Common Stock, par value $.01 per share	3/14/2008		M		15000	A	$1.27	513066	D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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		7. Title and Amount of Securities Underlying Derivative Security (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
Common Stock Option	$1.4	3/14/2008		M			80000	5/22/2003   (1)	4/22/2013	Common Stock	80000	$0	0	D
Common Stock Option	$1.66	3/14/2008		M			30000	11/22/2004   (2)	10/22/2014	Common Stock	30000	$0	0	D
Common Stock Option	$1.27	3/14/2008		M			15000	11/12/2006   (3)	10/12/2016	Common Stock	15000	$0	15000	D

Explanation of Responses:
( 1)	Options for one thirty-sixth of the original 80,000 shares vested on the 22nd of each month for the 36-month period commencing on May 22, 2003 and ending on April 22, 2006.
( 2)	Options for one thirty-sixth of the original 30,000 shares vested on the 22nd of each month for the 36-month period commencing on November 22, 2004 and ending on October 22, 2007.
( 3)	Options for one thirty-sixth of the original 30,000 shares vest on the 12th of each month for the 36-month period commencing on November 12, 2006 and ending on October 12, 2009.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KERBER JAMES R 8547 EAST ARAPAHOE ROAD, NO. J217 ENGLEWOOD, CO 80112	X

Signatures
James M. Bedore, Attorney-in-fact		3/17/2008
** Signature of Reporting Person		Date

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).
**	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.
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.