| 1 | |  Stranraer | 36 | 24 | 7 | 5 | 87 | 30 | 57 | 79 | G17:00 | 15/05/04 | R 36  Stranraer 4 Albion Rovers FC 0 B17:00 | 08/05/04 | R 35 Stirling Albion FC 2 Stranraer 2 G17:00 | 01/05/04 | R 34 Stranraer 3 Gretna 2 G17:00 | 24/04/04 | R 33 Stranraer 1 Cowdenbeath 0 G17:00 | 17/04/04 | R 32 Queens Park FC 0 Stranraer 2 B17:00 | 10/04/04 | R 31 Elgin City FC 0 Stranraer 0 |
| 2 | |  Stirling Albion FC | 36 | 23 | 8 | 5 | 78 | 27 | 51 | 77 | G17:00 | 15/05/04 | R 36 Cowdenbeath 0 Stirling Albion FC 5 B17:00 | 08/05/04 | R 35 Stirling Albion FC 2 Stranraer 2 G17:00 | 01/05/04 | R 34 East Stirlingshire FC 0 Stirling Albion FC 3 G17:00 | 24/04/04 | R 33 Elgin City FC 0 Stirling Albion FC 1 B17:00 | 17/04/04 | R 32 Stirling Albion FC 1 Montrose 1 G17:00 | 10/04/04 | R 31 Albion Rovers FC 3 Stirling Albion FC 5 |
| 3 | |  Gretna | 36 | 20 | 8 | 8 | 59 | 39 | 20 | 68 | B17:00 | 15/05/04 | R 36 Queens Park FC 1 Gretna 1 G17:00 | 08/05/04 | R 35 Gretna 3 Peterhead 2 M17:00 | 01/05/04 | R 34 Stranraer 3 Gretna 2 G17:00 | 24/04/04 | R 33 Montrose 1 Gretna 4 G17:00 | 17/04/04 | R 32 Gretna 5 East Stirlingshire FC 1 M17:00 | 10/04/04 | R 31 Gretna 0 Cowdenbeath 1 |
| 4 | |  Peterhead | 36 | 18 | 7 | 11 | 67 | 37 | 30 | 61 | M17:00 | 15/05/04 | R 36 Peterhead 1 Montrose 2 M17:00 | 08/05/04 | R 35 Gretna 3 Peterhead 2 G17:00 | 01/05/04 | R 34 Peterhead 3 Elgin City FC 1 B17:00 | 24/04/04 | R 33 Peterhead 1 Queens Park FC 1 G17:00 | 17/04/04 | R 32 Cowdenbeath 0 Peterhead 3 G17:00 | 10/04/04 | R 31 East Stirlingshire FC 0 Peterhead 3 |
| 5 | |  Cowdenbeath | 36 | 15 | 10 | 11 | 46 | 39 | 7 | 55 | M17:00 | 15/05/04 | R 36 Cowdenbeath 0 Stirling Albion FC 5 G17:00 | 08/05/04 | R 35 Albion Rovers FC 2 Cowdenbeath 4 B17:00 | 01/05/04 | R 34 Cowdenbeath 0 Montrose 0 M17:00 | 24/04/04 | R 33 Stranraer 1 Cowdenbeath 0 M17:00 | 17/04/04 | R 32 Cowdenbeath 0 Peterhead 3 G17:00 | 10/04/04 | R 31 Gretna 0 Cowdenbeath 1 |
| 6 | |  Montrose | 36 | 12 | 12 | 12 | 52 | 63 | -11 | 48 | G17:00 | 15/05/04 | R 36 Peterhead 1 Montrose 2 G17:00 | 08/05/04 | R 35 Montrose 1 East Stirlingshire FC 0 B17:00 | 01/05/04 | R 34 Cowdenbeath 0 Montrose 0 M17:00 | 24/04/04 | R 33 Montrose 1 Gretna 4 B17:00 | 17/04/04 | R 32 Stirling Albion FC 1 Montrose 1 B17:00 | 10/04/04 | R 31 Montrose 1 Queens Park FC 1 |
| 7 | |  Queens Park FC | 36 | 10 | 11 | 15 | 41 | 53 | -12 | 41 | B17:00 | 15/05/04 | R 36 Queens Park FC 1 Gretna 1 G17:00 | 08/05/04 | R 35 Elgin City FC 1 Queens Park FC 3 M17:00 | 01/05/04 | R 34 Queens Park FC 0 Albion Rovers FC 1 B17:00 | 24/04/04 | R 33 Peterhead 1 Queens Park FC 1 M17:00 | 17/04/04 | R 32 Queens Park FC 0 Stranraer 2 B17:00 | 10/04/04 | R 31 Montrose 1 Queens Park FC 1 |
| 8 | |  Albion Rovers FC | 36 | 12 | 4 | 20 | 66 | 75 | -9 | 40 | M17:00 | 15/05/04 | R 36 Stranraer 4 Albion Rovers FC 0 M17:00 | 08/05/04 | R 35 Albion Rovers FC 2 Cowdenbeath 4 G17:00 | 01/05/04 | R 34 Queens Park FC 0 Albion Rovers FC 1 G17:00 | 24/04/04 | R 33 East Stirlingshire FC 1 Albion Rovers FC 8 M17:00 | 17/04/04 | R 32 Albion Rovers FC 1 Elgin City FC 2 M17:00 | 10/04/04 | R 31 Albion Rovers FC 3 Stirling Albion FC 5 |
| 9 | |  Elgin City FC | 36 | 6 | 7 | 23 | 48 | 93 | -45 | 25 | M17:00 | 15/05/04 | R 36 East Stirlingshire FC 2 Elgin City FC 1 M17:00 | 08/05/04 | R 35 Elgin City FC 1 Queens Park FC 3 M17:00 | 01/05/04 | R 34 Peterhead 3 Elgin City FC 1 M17:00 | 24/04/04 | R 33 Elgin City FC 0 Stirling Albion FC 1 G17:00 | 17/04/04 | R 32 Albion Rovers FC 1 Elgin City FC 2 B17:00 | 10/04/04 | R 31 Elgin City FC 0 Stranraer 0 |
| 10 | |  East Stirlingshire FC | 36 | 2 | 2 | 32 | 30 | 118 | -88 | 8 | G17:00 | 15/05/04 | R 36 East Stirlingshire FC 2 Elgin City FC 1 M17:00 | 08/05/04 | R 35 Montrose 1 East Stirlingshire FC 0 M17:00 | 01/05/04 | R 34 East Stirlingshire FC 0 Stirling Albion FC 3 M17:00 | 24/04/04 | R 33 East Stirlingshire FC 1 Albion Rovers FC 8 M17:00 | 17/04/04 | R 32 Gretna 5 East Stirlingshire FC 1 M17:00 | 10/04/04 | R 31 East Stirlingshire FC 0 Peterhead 3 |
