Summary. --The intensity dependence of the multiphoton ionization spectra of Xe atoms has been investigated with an improved accuracy and well-controlled laser parameters. In particular, we have examined the ionization rates for X 3+, X 2-, X + as functions of the laser intensity and the pressure in the target chamber. The apparatus used for these measurements is characterized by a high-energy resolution (better than 200meV) and a completely digital acquisition system. The time-of-flight spectra clearly show the contributions of the different isotopes present in Xe gas. The laser pulses have been characterized with great accuracy by monitoring the energy, pulse width and divergence shot by shot. The ionization rates of the different ions have been used for testing the basic assumption of the Geltman theory of multiple ionization based on the single electron ionization model. We have found that for the small intensity range investigated the quantity (dXe+/d/) 9 (dXeS+/d/)/(dXe2+/d/) 2 appears to be quite close to the value 0.5 predicted by this model. PACS 32.80.Wr -Other multiphoton processes.