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The principal joint venture at 31 December 2003 is Giuffrè (an Italian legal publisher in which Reed Elsevier has a 40% shareholding). The cost and net book amount of goodwill and intangible assets in joint ventures were £37m/ € 53m and £19m/ € 27m respectively (2002: £36m/ € 55m and £21m/ € 32m). 

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