Sec Form 4 Filing - SOROS GEORGE @ APEX SILVER MINES LTD - 2003-09-03

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person SOROS GEORGE 2. Issuer Name and Ticker or Trading Symbol APEX SILVER MINES LTD [ SIL] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 888 SEVENTH AVENUE, 33RD FLOOR 3. Date of Earliest Transaction (MM/DD/YY) 09/03/2003 (Street) NEW YORK, NY10106 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Ordinary Shares 09/03/2003 S 13,500 D $ 16 3,650,223 I See footnotes( 1 )( 2 )( 3 )( 4 )( 5 )( 6 ) Ordinary Shares 09/03/2003 S 2,000 D $ 16.02 3,648,223 I See footnotes( 1 )( 2 )( 3 )( 4 )( 5 )( 6 ) Ordinary Shares 09/03/2003 S 5,000 D $ 16.03 3,643,223( 7 ) I See footnotes( 1 )( 2 )( 3 )( 4 )( 5 )( 6 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Se curity: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other SOROS GEORGE 888 SEVENTH AVENUE 33RD FLOOR NEW YORK, NY10106 X Signatures John F. Brown, as Attorney-in-Fact for Mr. George Soros 09/05/2003 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Each of the transactions in ordinary shares, par value $0.01 per share, of the Issuer ("Ordinary Shares") reported herein were effected in the form of a single trade or a group of trades at the same sale price, portions of which were allocated among the accounts of QIP, EMOF and Geosor (each as defined below). ( 2 )Of each trade, approximately 68.20% of the amount of Ordinary Shares reported herein were allocated to the account of Quantum Industrial Partners LDC ("QIP"), an exempted limited duration company formed under the laws of the Cayman Islands. QIH Management Investor, L.P. ("QIHMI"), an advisory firm organized as a Delaware limited partnership, is a minority shareholder of, and is vested with investment discretion with respect to, portfolio assets held for the account of QIP. The sole general partner of QIHMI is QIH Management LLC ("QIH Managment"), a limited liability company formed under the laws of the State of Delaware. Soros Private Funds Management LLC ("SPFM"), a limited liability company formed under the laws of the State of Delaware, is the sole managing member of QIH Management. The Reporting Person is the sole member of SPFM. ( 3 )The Reporting Person has entered into an agreement with Soros Fund Management LLC ("SFM LLC"), a limited liability company formed under the laws of the State of Delaware, pursuant to which he has, among other things, agreed to use his best efforts to cause QIH Management to act at the direction of SFM LLC (the "QIP Contract"). Accordingly, each of QIHMI, QIH Management, SPFM, SFM LLC and the Reporting Person may be deemed to be the beneficial owner of the Ordinary Shares held for the account of QIP. ( 4 )Of each trade, approximately 11.34% of the amount of the Ordinary Shares reported herein were allocated to the account of EMOF LLC, a limited liability company formed under the laws of the State of Delaware ("EMOF"), the manager of which is EMOF Manager LLC, a limited liability company formed under the laws of the State of Delaware ("EMOF Manager"). EMOF Manager is vested with investment discretion with respect to portfolio assets held for the account of EMOF LLC. The Reporting Person is the managing member of EMOF Manager. ( 5 )Of each trade, approximately 20.46% of the amount of Ordinary Shares reported herein were allocated to the account of Geosor Corporation ("Geosor"), a corporation formed under the laws of the State of New York. The Reporting Person is the sole shareholder of Geosor. ( 6 )The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of any securities not held directly for his account for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise. ( 7 )The 3,643,223 Ordinary Shares reported herein beneficially owned by the Reporting Person following the reported transactions are held for the following accounts: (i) 2,484,663 Ordinary Shares are held for the account of QIP; (ii) 413,161 Ordinary Shares are held for the account of EMOF; and (iii) 745,399 Ordinary Shares are held for the account of Geosor.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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