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<p align="center"><font size="3"><strong>UNITED STATES</br>
SECURITIES AND EXCHANGE COMMISSION</br>
Washington, D.C. 20549</strong></font></p>

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<HR WIDTH="25%">
<p align="center"><font size="3"><strong>FORM 8-K</strong></font></p>
<HR WIDTH="25%">
<br>

<p align="center"><font size="3"><strong>
CURRENT REPORT
</strong></font></p>

<p align="center"><font size="3"><strong>
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
</strong></font></p>
<p align="center"><font size="3"><strong>
<U>July 22, 2003</U>
</strong></font></p>

<p align="center"><font size="2">
             Date of Report (Date of earliest event reported)
</font></p>

<p align="center"><font size="5" color="#0000FF"><strong>
                 <u> SIEBEL SYSTEMS, INC.</u>
</strong></font></br>
<font size="2">
             (Exact name of Registrant as specified in its charter)
</font></p>

<P>&nbsp;
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<font size="3"><strong>
<CENTER><u>Delaware</u></CENTER>
</font></strong>
</TD>
<TD>
<font size="3"><strong>
<CENTER><u>0-20725</u></CENTER>
</font></strong>
</TD>
<TD>
<font size="3"><strong>
<CENTER><u>94-3187233</u></CENTER>
</font></strong>
</TD>
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<TD>
<font size="2">
<CENTER>&nbsp; (State or other jurisdiction of incorporation or organization)&nbsp;</CENTER>
</font>
</TD>
<TD>
<font size="2">
<CENTER>(Commission File Number)</CENTER>
</font>
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<font size="2">
<CENTER>(IRS Employer Identification Number)</CENTER>
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                            2207 Bridgepointe Parkway<br>
                            <u>San Mateo, CA &nbsp; 94404
</strong></font></u><br>

<font size="2">
                   (Address of principal executive offices, including zip code)
</font></p>

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                                 (650) 477-5000
</strong></font></u><br>

<font size="2">
             (Registrant's telephone number, including area code)
</font></p>

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<B><P ALIGN="JUSTIFY">Item 9.&#9;  Regulation FD Disclosure.</P></B>

<P ALIGN="JUSTIFY">This Form 8-K is being furnished to report information pursuant to Item 12 -- Disclosure
of Results of Operations and Financial Condition as follows:</P>

<P ALIGN="JUSTIFY">On July 22, 2003, Siebel Systems, Inc. issued a press release announcing
results for the quarter ended June 30, 2003.  A copy of the press release, dated as of
July 22, 2003, entitled &quot;Siebel Systems Reports Second Quarter Revenues and Earnings;
Restructures for Increased Profitability&quot; is attached as Exhibit 99.1 to this Current Report and is
incorporated herein by reference.</P>

<P ALIGN="JUSTIFY">The information in this report, including the exhibit hereto, shall not be deemed
to be &quot;filed&quot; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities
Act of 1933, as amended.  The information contained herein and in the accompanying exhibit shall not
be incorporated by reference into any filing with the Securities and Exchange Commission made by Siebel
Systems, Inc., whether made before or after the date hereof, regardless of any general incorporation
language in such filing.</P>


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</P><B><P ALIGN="CENTER">SIGNATURE</P>
</B><P ALIGN="JUSTIFY"><Font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized.</P>

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    <TD>&nbsp;</TD>
    <TD align=left><FONT SIZE=2>
<B>                                   SIEBEL SYSTEMS, INC.</B>
</TD></TR></TABLE>

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    <TD>&nbsp;</TD>
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<I>(Registrant)</I>
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<FONT SIZE=2>
<p>Dated: July 22, 2003


<P>
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    <TD>&nbsp;</TD>
    <TD><FONT SIZE=2>By:&nbsp;</TD>
                                                                                                            <TD align=left><FONT SIZE=2>
/s/ Kenneth A. Goldman
</TD></TR></TABLE>


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Kenneth A. Goldman
</TD></TR>
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    <TD>&nbsp;</TD>
    <TD align=left><FONT SIZE=2><I>
                                    Senior Vice President,<br>
                                    Finance and Administration<br>
                                    and Chief Financial Officer
</I></TD></TR></TABLE></P>

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<B><P ALIGN="Center">INDEX TO EXHIBITS</P></B>

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<P><FONT SIZE=2>
                                                                                                                                                                                                                                           99.1
</TD>
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<FONT SIZE=2><P>
Press Release, dated as of July 22, 2003, entitled "Siebel Systems Reports
Second Quarter Revenues and Earnings; Restructures for Increased Profitability."
</TD>
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4.23 8K doc
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934
July 22, 2003
Date of Report (Date of earliest event reported)
SIEBEL SYSTEMS, INC.
(Exact name of Registrant as specified in its charter)
Delaware
0-20725
94-3187233
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(IRS Employer Identification Number)
2207 Bridgepointe Parkway
San Mateo, CA   94404
(Address of principal executive offices, including zip code)
(650) 477-5000
(Registrant's telephone number, including area code)
Item 9.	  Regulation FD Disclosure.
This Form 8-K is being furnished to report information pursuant to Item 12 -- Disclosure
of Results of Operations and Financial Condition as follows:
On July 22, 2003, Siebel Systems, Inc. issued a press release announcing
results for the quarter ended June 30, 2003.  A copy of the press release, dated as of
July 22, 2003, entitled "Siebel Systems Reports Second Quarter Revenues and Earnings;
Restructures for Increased Profitability" is attached as Exhibit 99.1 to this Current Report and is
incorporated herein by reference.
The information in this report, including the exhibit hereto, shall not be deemed
to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended,
or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities
Act of 1933, as amended.  The information contained herein and in the accompanying exhibit shall not
be incorporated by reference into any filing with the Securities and Exchange Commission made by Siebel
Systems, Inc., whether made before or after the date hereof, regardless of any general incorporation
language in such filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its behalf by the undersigned,
hereunto duly authorized.
SIEBEL SYSTEMS, INC.
(Registrant)
Dated: July 22, 2003
By:
/s/ Kenneth A. Goldman
Kenneth A. Goldman
Senior Vice President,
Finance and Administration
and Chief Financial Officer
INDEX TO EXHIBITS
99.1
Press Release, dated as of July 22, 2003, entitled "Siebel Systems Reports
Second Quarter Revenues and Earnings; Restructures for Increased Profitability."