Additions
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 07/2003 |  | Adir | GK |  | FC Penafiel | Penafiel |
| 07/2003 |  | Bodunha | DF |  | S.C. Braga | S.C. Braga |
| 07/2003 |  | Bruno Novo | DF |  | Naval 1893 | Naval |
| 07/2003 | | Carlos | DF |  | Vitória Setúbal | Vitória FC |
| 07/2003 | | Erivan | DF |  | Boavista | Boavista |
| 07/2003 | | Flamarion | DF |  | Estrela Amadora | Amadora |
| 07/2003 | | Carlos André | MF | | S.C. Braga | S.C. Braga |
| 07/2003 |  | Emerson | MF |  | Portimonense SC | Portimonense SC |
| 07/2003 | | Ricardo Nascimento | MF |  | SC Salgueiros | SC Salgueiros |
| 07/2003 | | Basílio Almeida | FW | | SC Salgueiros | SC Salgueiros |
| 07/2003 | | Saulo | FW | |||
| 07/2003 | | Jorge Regadas | MA |  | Gondomar SC | Gondomar SC |
Departures
| from | Name | Pos | Team | Team | ||
|---|---|---|---|---|---|---|
| 01/2004 | | Carlos André | MF |  | Rot Weiss Ahlen | RW Ahlen |
| 07/2003 |  | Ariel Graña | DF |  | Nueva Chicago | Nueva Ch. |
| 07/2003 | | Bruno Caires | MF |  | Sporting Covilhã | Covilha |
| 07/2003 | | Sérgio Pinto | MF |  | FC Felgueiras 1932 | FC Felgueiras |
| 07/2003 | | Igor | FW | | S.C. Braga | S.C. Braga |
| 07/2003 | | Lito | FW |  | Moreirense FC | Moreirense |