Released in 1994 as a minor update to the 503CX. The body was manufactured in 1995 and the magazine in 2004. The winding crank is designed to allow the use of a motor winder. As with its successor, the 503CW, it can use format masks for 6x4.5 and 6x3 (panorama). In addition, small legs were added on both sides of the tripod mount to provide greater stability when placed on a surface. Thanks to the Minolta-made Acute Matte screen inherited from the 503CX, the viewfinder image is bright and sharp to the edges, offering a comfortable focusing experience.

There is some minor deterioration on the resin part of the base. Otherwise, the body shows little overall wear and has a rather clean appearance. The finder screen shows slight smudging, but it does not affect the finder image, which remains clear and easy to view. Some typical Palpas cracks and deterioration can be seen inside the body, though they do not affect shooting. All other functions operate smoothly. A practical piece to use.