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 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCANNON PATRICK J MD PHD
   2. Issuer Name and Ticker or Trading Symbol
XOMA LTD /DE/ [XOMA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
CSMO
(Last)
(First)
(Middle)
C/O XOMA, LTD., 2910 SEVENTH STREET		 3. Date of Earliest Transaction (Month/Day/Year)
04/14/2004
(Street)

BERKELEY, CA 94710		 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
Common Shares 04/13/2004   M   23,048 A $ 2.5625 99,070 D  
Common Shares 04/13/2004   S   23,048 D $ 4.9737 76,022 D  
Common Shares 04/13/2004   M   8,619 A $ 2.5625 84,641 D  
Common Shares 04/13/2004   S   8,619 D $ 4.9737 76,022 D  
Common Shares 04/13/2004   M   18,333 A $ 2.5625 94,355 D  
Common Shares 04/13/2004   S   18,333 D $ 4.9737 76,022 D  
Common Shares 04/13/2004   M   5,833 A $ 2.375 81,855 D  
Common Shares 04/13/2004   S   5,833 D $ 4.9737 76,022 D  
Common Shares 04/13/2004   M   19,167 A $ 2.375 95,189 D  
Common Shares 04/13/2004   S   19,167 D $ 4.9737 76,022 D  
Common Shares               12,912 I by 401(k) (1)
Common Shares               11,251 I by Daughter (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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
Incentive Share Option (right to buy) $ 2.375 04/13/2004   M     5,833   (3) 02/22/2005 Common Shares 5,833 $ 4.9737 0 D  
Incentive Share Option (right to buy) $ 2.5625 04/13/2004   M     23,048   (4) 01/11/2005 Common Shares 23,048 $ 4.9737 72,927 D  
Incentive Share Option (right to buy) $ 2.5625 04/13/2004   M     8,619   (4) 01/11/2005 Common Shares 8,619 $ 4.9737 64,308 D  
Non-Qualified Share Option (right to buy) $ 2.375 04/13/2004   M     19,167   (3) 02/22/2005 Common Shares 19,167 $ 4.9737 0 D  
Non-Qualified Share Option (right to buy) $ 2.5625 04/13/2004   M     18,333   (4) 01/11/2005 Common Shares 18,333 $ 4.9737 85,692 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCANNON PATRICK J MD PHD
C/O XOMA, LTD.
2910 SEVENTH STREET
BERKELEY, CA 94710		   X     CSMO  

Signatures

 Patrick J. Scannon, MD, PhD   04/14/2004
**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) Held indirectly under the XOMA Ltd. Deferred Savings Plan. All shares were acquired in a transaction exempt from Section 16(b).
(2) Held indirectly by Patrick J. Scannon as Custodian under the Uniform Gift to Minors Act for Nell Scannon.
(3) Exercisable with respect to 1/60th of options in monthly increments beginning 3/22/95 and ending 2/22/00.
(4) Exercisable with respect to 1/60th of options in monthly increments beginning 02/21/00 and ending 01/21/05.

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