  The high mass X-ray binary 4U 1901+03 was reported to have the pulse profile
evolving with the X-ray luminosity and energy during its outburst in
February-July 2003: the pulse peak changed from double to single along with the
decreasing luminosity. We have carried out a detailed analysis on the
contemporary phase-resolved energy spectrum of 4U 1901+03 as observed by Rossi
X-ray Timing Explorer (RXTE). We find that, both the continuum and the pulse
spectra are phase dependent. The optical depth derived from the pulse spectrum
is in general larger than that from the continuum. Fe Ka emission line is only
detected in the spectrum of the continuum and is missing in the pulse spectrum.
This suggests an origin of Fe emission from the accretion disk but not the
surface of the neutron star.
