Club Aurora 4-2 CD Guabirá
| 19.01.2004 | CD Guabirá | 0-4 | Club Aurora | |
| 12.01.2004 | Club Aurora | 0-2 | CD Guabirá | |
Oriente Petrolero 5-1 Unión Central
| 19.01.2004 | Unión Central | 1-1 | Oriente Petrolero | |
| 12.01.2004 | Oriente Petrolero | 4-0 | Unión Central | |
Real Potosí 3-4 The Strongest
| 19.01.2004 | The Strongest | 2-1 | Real Potosí | |
| 12.01.2004 | Real Potosí | 2-2 | The Strongest | |
Vaca Díez 0-1 Jorge Wilstermann
| 19.01.2004 | Jorge Wilstermann | 0-0 | Vaca Díez | |
| 12.01.2004 | Vaca Díez | 0-1 | Jorge Wilstermann | |