-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QKq5KfVpl6YQ7kW595TKNJdDEb9RvM0CQbmOl4Qy/8BAYeeVjji/dbSIp4Z5M2he
 Qp63gDx2Ghhr0rar5WEQ4Q==

<SEC-DOCUMENT>0001181431-03-027976.txt : 20031030
<SEC-HEADER>0001181431-03-027976.hdr.sgml : 20031030
<ACCEPTANCE-DATETIME>20031030095101
ACCESSION NUMBER:		0001181431-03-027976
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031028
FILED AS OF DATE:		20031030

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MACDONALD MICHAEL C
		CENTRAL INDEX KEY:			0001207400

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04471
		FILM NUMBER:		03965313

	MAIL ADDRESS:	
		STREET 1:		C/O XEROX CORP
		STREET 2:		PO BOX 1600 LONG RIDGE ROAD
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06904-1600

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			XEROX CORP
		CENTRAL INDEX KEY:			0000108772
		STANDARD INDUSTRIAL CLASSIFICATION:	COMPUTER PERIPHERAL EQUIPMENT, NEC [3577]
		IRS NUMBER:				160468020
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		800 LONG RIDGE RD
		STREET 2:		P O BOX 1600
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06904-1600
		BUSINESS PHONE:		2039683000

	MAIL ADDRESS:	
		STREET 1:		800 LONG RIDGE ROAD
		STREET 2:		PO BOX 1600
		CITY:			STAMFORD
		STATE:			CT
		ZIP:			06904

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HALOID XEROX INC
		DATE OF NAME CHANGE:	19730813
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd21156.xml
<DESCRIPTION>FORM 4 - OCTOBER 28 ACTIVITY
<TEXT>
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<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-10-28</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000108772</issuerCik>
        <issuerName>XEROX CORP</issuerName>
        <issuerTradingSymbol>XRX</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001207400</rptOwnerCik>
            <rptOwnerName>MACDONALD MICHAEL C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 LONG RIDGE ROAD</rptOwnerStreet1>
            <rptOwnerStreet2>P. O. BOX 1600</rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06904</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Senior Vice President</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-10-28</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>S</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>30000</value></transactionShares><transactionPricePerShare><value>10.59</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>32566</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipN
ature></nonDerivativeTransaction><nonDerivativeHolding><securityTitle><value>Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>45</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>children</value></natureOfOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Incentive Stock Rights</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>40000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Xerox Stock Fund</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>9461.6495</value></sharesOwnedFollowingTransaction></postTransactionAmounts><owners
hipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>Xerox Stock Fund</value></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>4.75</value></conversionOrExercisePrice><exerciseDate><value>2002-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2010-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>93500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock<
/value></securityTitle><conversionOrExercisePrice><value>5.14</value></conversionOrExercisePrice><exerciseDate><value>2007-10-14</value></exerciseDate><expirationDate><value>2011-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>50000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>7.885</value></conversionOrExercisePrice><exerciseDate><value>2004-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2012-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></
underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>149600</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>10.365</value></conversionOrExercisePrice><exerciseDate><value>2003-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2011-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>93500</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOr
IndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>21.7812</value></conversionOrExercisePrice><exerciseDate><value>2005-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2009-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>30000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>36.7032</value></conversionOrExercisePrice><exerciseDate><value>1999-0
1-01</value><footnoteId id="F3"/></exerciseDate><expirationDate><value>2005-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>36054</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>46.875</value></conversionOrExercisePrice><exerciseDate><value>1999-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2008-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></un
derlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>17166</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>47.50</value></conversionOrExercisePrice><exerciseDate><value>2003-03-01</value></exerciseDate><expirationDate><value>2009-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6282</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securi
tyTitle><value>Common Stock</value></securityTitle><conversionOrExercisePrice><value>59.4375</value></conversionOrExercisePrice><exerciseDate><value>2000-01-01</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>2006-12-31</value></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1184</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Deferred Comp</value></securityTitle><conversionOrExercisePrice><footnoteId id="F1"/></conversionOrExercisePrice><exerciseDate><footnoteId id="F1"/></exerciseDate><expirationDate><footnoteId id="F1"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><valu
e>Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><footnoteId id="F2"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><valueOwnedFollowingTransaction><value>58628</value></valueOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Not Applicable</footnote><footnote id="F2">This is a total row.  Information requested is not applicable.</footnote><footnote id="F3">Options vest over three years, 33%, 33%, 34%, beginning in year shown.</footnote><footnote id="F4">Options vest over three years, 33.3% per year beginning in year shown.</footnote></footnotes><ownerSignature><signatureName>K.W. Fizer Attorney-In-Fact</signatureName><signatureDate>2003-10-30</signatureDate></ownerSignature></ownershipDocument>



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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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