Intangible assets are recorded at the acquisition cost. They are decreased by regular amortisation rates in proportion to the amount of use in accordance with the straight-line method. There was no need for extraordinary amortisation.

Research and development (R&D) costs of the MVV Energie Group represent expenses for the respective periods in accordance with IAS 38. The conditions for capitalisation were thus not fulfilled. In fiscal year 2002 / 2003, these expenses amounted to Euro 3,595,000 (Euro 5,626,000 last year). R&D efforts were mainly concentrated on activities to improve operational processes as well as to develop new products and advanced technologies.

Asset-like rights consist of software as well as contractual subsidies to customers and suppliers. Useful life is oriented to the economic aspects and/or contractual terms. It is between 3 and 20 years.

The period of amortisation for capitalised goodwill is between 10 and 20 years.

Intangible Assets In Euro 1000	Asset-like rights		Goodwill		Advance payments		Totals
Gross value 1/10/2002	69,264		255,072		394		324,730
Additions: Participations	–		11,114		–		11,114
Adjustments (IAS 22.71)	–		-14,101		–		-14,101
Currency adjustments	-148		983		–		835
Investments/Additions	4,893		–		134		5,027
Disposals	-1,935		-70		-37		-2,042
Transfers	3,039		3		-74		2,968
Gross value 30/9/2003	75,113		253,001		417		328,531
Amortisation 1/10/2002	42,597		17,506		2		60,105
Currency adjustments	-93		113		–		20
Amortisation	8,385		12,989		–		21,374
Disposals	-1,017		–		–		-1,017
Transfers	149		–		–		149
Amortisation 30/9/2003	50,021		30,608		2		80,631
Subsidies 1/10/2002	248		–		–		248
Disposals	-188		–		–		-188
Subsidies 30/9/2003	60		–		–		60
Net value 30/9/2003	25,032		222,393		415		247,840
Net value 30/9/2002	26,419		237,566		392		264,377

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