1975. With the use of LSI semiconductor technology (the LSI-11 and LSI-11/2 processor), it was a compact implementation of the -11 architecture. It was limited though, to 32KW memory, only one processor operating mode, and limited floating-point instructions. Available options: CIS, WCS, EIS/FIS.

The /03 used the new LSI bus, later known as the qbus, and was aimed at the low-end market, as the successor of the /05.Perhaps the slowest of the -11s (one third of the 11/20's performance).

A nice 11/03 system (in fact there are 3 of them on the picture)
Another look at the BA11-M drawer containing the qbus and PSU

It was also used as the frontend processor to the VAX11-780.