The level structure of lZ3Xe has been studied with the 114Cd(12C, 3n) and 114Cd (13C, 4n) reactions using in-beam 7-ray spectroscopy. The yrast cascade on the low lying odd parity states originating from the h~t/2 neutron orbital has been investigated yielding lifetimes r of 18(3) ps, 2.2(4) ns and 17(2) ns for the 15/2-, 11/2-and 9/2 states, respectively. The g-factor of the t~/z = 5.2 gs isomer has been measured to be g= -0.256(2). From the time differential observation of the electric quadrupole interaction in a 1~4Cd single crystal the spin of this isomer has been determined to be 7/2 and from the coupling constant eZQq/h=ll6(2)MHz the quadrupole moment was deduced. The results are discussed in the framework of the triaxial rotor plus particle model.