SEC Form 3

FORM 3

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

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1. Name and Address of Reporting Person* AUGUST CAPITAL MANAGEMENT III LLC (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/11/2003	3. Issuer Name and Ticker or Trading Symbol BUSINESS OBJECTS SA [ BOBJ ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
ADS, each representing one ordinary share	21,637,329	I	see footnote(1)(2)(3)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* AUGUST CAPITAL MANAGEMENT III LLC (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* AUGUST CAPITAL III LP (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* AUGUST CAPITAL STRATEGIC PARTNERS III LP (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* AUGUST CAPITAL III FOUNDERS FUND LP (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MARQUARDT DAVID F (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RAPPAPORT ANDREW (Last) (First) (Middle) 2480 Sand Hill Road Suite 101 (Street) Menlo Park CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* JOHNSTON JOHN R (Last) (First) (Middle) 2480 SAND HILL ROAD SUITE101 (Street) MENLO PARK CA 94025 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. All ordinary shares of Issuer reported herein are owned by New SAC (either directly or through New Sac's wholly-owned subsidiary, CB Cayman). The August Funds, together with affiliates of the August Funds, own approximately 11.39% of the total outstanding ordinary shares of New SAC as of December 9, 2003. David Marquardt, a member of the Designated Filer, is a member of the board of directors of New SAC.

2. The Designated Filer is August Capital Management III, L.L.C., the general partner of August Capital III, L.P., August Capital Strategic Partners III, L.P. and August Capital III Founders Fund, L.P. (collectively, the "August Funds").

3. Each Reporting Person may be deemed a beneficial owner of the reported shares but each disclaims beneficial ownership except to the extent of any pecuniary interest therein.

Remarks:

Exhibit List: Exhibit 99 - Joint Filer Information

	/s/ Mark G. Wilson	12/19/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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