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## 3. Liquid Assets 

Liquid assets amounted to € 369.3 million (previous year: € 190.6 million) as at 31 December 2004; in addition to cash, this 

## 4. Inventories 

Inventories are divided into the following main categories: 

item largely includes fixed-term deposits and money market funds. There were no restraints on disposal. 

<img src='content_image/72119.jpg'>

## 5. Trade Receivables and other Receivables 

Receivables consist of the following: 

Of the total amount of reported inventories, the amount of € 57.5 million (previous year: € 29.7 million) is stated at its net realizable value. 

<img src='content_image/72120.jpg'>

The present value of this item corresponds to the book value. As a rule, receivables are due within one year. 

There were no receivables due from management or supervisory bodies. 

