Celta de Vigo 2-5 Arsenal FC *
| 10.03.2004 | Arsenal FC | 2-0 | Celta de Vigo | |
| 24.02.2004 | Celta de Vigo | 2-3 | Arsenal FC | |
Lokomotiv Moscow 2-2 AS Monaco *
| 10.03.2004 | AS Monaco | 1-0 | Lokomotiv Moscow | |
| 24.02.2004 | Lokomotiv Moscow | 2-1 | AS Monaco | |
Bayern München 1-2 Real Madrid *
| 10.03.2004 | Real Madrid | 1-0 | Bayern München | |
| 24.02.2004 | Bayern München | 1-1 | Real Madrid | |
VfB Stuttgart 0-1 Chelsea FC *
| 09.03.2004 | Chelsea FC | 0-0 | VfB Stuttgart | |
| 25.02.2004 | VfB Stuttgart | 0-1 | Chelsea FC | |
*Deportivo La Coruña 2-0 Juventus FC
| 09.03.2004 | Juventus FC | 0-1 | Deportivo La Coruña | |
| 25.02.2004 | Deportivo La Coruña | 1-0 | Juventus FC | |
FC Porto 3-2 Manchester United *
| 09.03.2004 | Manchester United | 1-1 | FC Porto | |
| 25.02.2004 | FC Porto | 2-1 | Manchester United | |
Real Sociedad 0-2 Lyon *
| 09.03.2004 | Lyon | 1-0 | Real Sociedad | |
| 25.02.2004 | Real Sociedad | 0-1 | Lyon | |
Sparta Praha 1-4 AC Milan *
| 10.03.2004 | AC Milan | 4-1 | Sparta Praha | |
| 24.02.2004 | Sparta Praha | 0-0 | AC Milan | |