-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 NamI088gKVLYA1/tYkk8DQcnsHtx9BHowZUcN3YbLnm//N8Mjfpxw16YxoqXVRKG
 YXtI3LfLVCDPYDniczqsBA==

<SEC-DOCUMENT>0001005477-03-004193.txt : 20031027
<SEC-HEADER>0001005477-03-004193.hdr.sgml : 20031027
<ACCEPTANCE-DATETIME>20031027154138
ACCESSION NUMBER:		0001005477-03-004193
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031023
FILED AS OF DATE:		20031027

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MARASCO WAYNE A
		CENTRAL INDEX KEY:			0001242548

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10909
		FILM NUMBER:		03958563

	BUSINESS ADDRESS:	
		STREET 1:		CORNICHE GROUP INC
		STREET 2:		330 SOUTH SERVICE RD.
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHASE III MEDICAL INC/DE
		CENTRAL INDEX KEY:			0000320017
		STANDARD INDUSTRIAL CLASSIFICATION:	INSURANCE CARRIERS, NEC [6399]
		IRS NUMBER:				222343568
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6315744955

	MAIL ADDRESS:	
		STREET 1:		330 SOUTH SERVICE ROAD
		STREET 2:		SUITE 120
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CORNICHE GROUP INC /DE
		DATE OF NAME CHANGE:	19951117

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL INC
		DATE OF NAME CHANGE:	19951025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIDELITY MEDICAL SERVICES INC
		DATE OF NAME CHANGE:	19830825
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
    <periodOfReport>2003-10-23</periodOfReport>
    <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000320017</issuerCik>
        <issuerName>PHASE III MEDICAL INC/DE</issuerName>
        <issuerTradingSymbol>PHSM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>

        <reportingOwnerId>
            <rptOwnerCik>0001242548</rptOwnerCik>
            <rptOwnerName>MARASCO WAYNE A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PHASE III MEDICAL, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>330 SOUTH SERVICE ROAD, SUITE 120</rptOwnerStreet2>
            <rptOwnerCity>MELVILLE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11747</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
        <isDirector>1</isDirector>
        <isOfficer>0</isOfficer>
        <isTenPercentOwner>0</isTenPercentOwner>
        <isOther>0</isOther>
    </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>

        <securityTitle>
            <value>Common Stock</value>
        </securityTitle>

        <transactionDate>
            <value>2003-10-23</value>
        </transactionDate>
    <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>P</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
    </transactionCoding>
        <transactionAmounts>

            <transactionShares>
                <value>500000</value>
            </transactionShares>

            <transactionPricePerShare>
                <value>0.10</value>
            </transactionPricePerShare>

            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <postTransactionAmounts>

            <sharesOwnedFollowingTransaction>
                <value>500000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>

            <directOrIndirectOwnership>
                <value>I</value>
                <footnoteId id="F1"/>
            </directOrIndirectOwnership>

            <natureOfOwnership>
                <value>By trust</value>
                <footnoteId id="F1"/>
            </natureOfOwnership>
        </ownershipNature>
        </nonDerivativeTransaction>

    </nonDerivativeTable>
    <footnotes>
        <footnote id="F1">Held by The Wayne A. Marasco Revocable Family Trust.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Wayne Marasco</signatureName>
        <signatureDate>2003-10-27</signatureDate>
    </ownerSignature>

</ownershipDocument>

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