ANNEX 1 Anglian Water Services Ltd Regulatory Capital Values at 2002-03 Prices

m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding.

2003-04 3,911 121 4,032 264 34 -23 -16 -135 -13

2004-05

4,143 216 33 -23 -16 -140 -32

4,143 4,033

4,180 4,106

1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

Welsh Water (Dr Cymru Cyfyngedig) Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2000. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 2,291 71 2,362 189 38 -34 -5 -79 56

2,528 187 37 -33 -5 -83 16

2,528 2,413

2,647 2,553

Northumbrian Water Ltd Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Adjustments from interim determination3 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5). 3. Adjustments arising from the interim determination in 2003.

2003-04 2,106 65 2,171 -9 2,162 142 34 -28 -7 -74 30 2,259 2,186

2004-05

2,259 142 33 -28 -7 -78 -45 2,276 2,237

Severn Trent Water Ltd Regulatory Capital Values at 2001-02 Prices m Closing RCV for 2001-021 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2002 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 4,265 132 4,397 392 79 -58 -21 -207 -13

4,569 378 78 -58 -20 -212 -4

4,569 4,423

4,731 4,588

South West Water Ltd Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV . Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2001. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 1,572 49 1,620 126 14 -13 -4 -61 24

1,706 115 14 -13 -4 -64 30

1,706 1,641

1,784 1,722

Southern Water Services Ltd Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 2,126 66 2,192 182 23 -23 -8 -103 14

2,276 173 22 -23 -8 -108 -46

2,276 2,204

2,286 2,251

Thames Water Utilities Ltd Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 4,634 143 4,778 431 38 -42 -32 -241 -33

4,899 401 38 -41 -31 -247 -72

4,899 4,774

4,946 4,857

United Utilities Water plc Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Adjustments from interim determination3 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5). 3. Adjustments arising from the interim determination in 2003.

2003-04 2004-05 5,002 155 5,157 -120 5,037 548 98 -105 -18 -212 -118 5,230 5,124

5,230 466 97 -105 -18 -221 8 5,457 5,272

Wessex Water Services Ltd Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 1,430 44 1,474 145 17 -16 -4 -66 -11

1,540 107 17 -16 -4 -68 -22

1,540 1,487

1,554 1,526

Yorkshire Water Services Ltd Regulatory Capital Values at 2001-02 Prices m Closing RCV for 2001-021 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2002 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 2,869 89 2,958 280 43 -28 -16 -134 -36

3,066 273 42 -28 -16 -134 -22

3,066 2,971

3,181 3,081

Bournemouth and West Hampshire Water plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2001. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 93,107 2,881 95,988 10,805 1,124 -1,250 -911 -5,513 5,225

105,469 7,834 1,103 -1,243 -914 -5,790 2,148

105,469 99,385

108,607 105,610

Bristol Water Plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 177,635 5,497 183,132 21,469 6,703 -6,817 -2,915 -6,583 8,076

203,066 19,285 6,417 -6,782 -2,880 -6,926 12,494

203,066 190,523

224,674 211,017

Cambridge Water PLC Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 40,628 1,257 41,885 2,350 1,309 -1,352 -1,023 -1,067 741

42,843 3,030 1,315 -1,346 -1,018 -1,116 2,433

42,843 41,799

46,141 43,899

Dee Valley Water plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2001. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 43,167 1,336 44,503 4,093 1,632 -1,852 -236 -2,826 663

45,977 3,252 1,600 -1,842 -235 -3,078 -394

45,977 44,636

45,279 45,019

Folkestone and Dover Water Services Ltd

Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 45,570 1,410 46,980 5,124 412 -398 -191 -2,181 904 50,651 48,164

50,651 4,124 404 -396 -190 -2,192 -20 52,380 50,828

Mid Kent Water plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Other adjustments3 Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5). 3. As made in the Competition Commission report 2000.

2003-04 2004-05 161,303 4,992 166,294 16,038 2,394 -2,640 -442 232 -7,097 -4,162

170,617 14,590 2,266 -2,640 -440 230 -7,282 7,300

170,617 166,208

184,642 175,260

Portsmouth Water plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 88,406 2,736 91,142 4,388 3,809 -3,818 -543 -2,598 -2,479

89,901 4,571 3,749 -3,798 -540 -2,760 -3,949

89,901 89,314

87,174 87,357

South East Water Ltd Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 421,718 13,050 434,768 30,392 7,879 -7,770 -1,875 -12,242 -7,613

443,539 28,301 7,679 -7,732 -1,865 -13,040 -12,388

443,539 433,295

444,493 438,093

Sutton and East Surrey Water plc

Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Other adjustments3 Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5). 3. As made in the Competition Commission report 2000.

2003-04 2004-05 107,312 3,321 110,633 12,523 4,553 -3,510 -683 122 -6,255 -137

117,247 14,163 4,420 -3,510 -680 123 -6,357 2,992

117,247 112,421

128,400 121,186

South Staffordshire Water plc Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 141,977 4,394 146,370 15,449 5,044 -4,387 -4,208 -7,318 6,957

157,906 11,965 4,951 -4,362 -3,922 -7,502 1,181

157,906 150,109

160,217 156,940

Tendring Hundred Water Services Ltd Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. Interim Determination in 2000. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 49,528 1,533 51,061 2,389 856 -807 -272 -1,274 672

52,625 2,182 846 -803 -271 -1,329 -327

52,625 51,151

52,923 52,070

Three Valleys Water PLC Regulatory Capital Values at 2002-03 Prices 000's Closing RCV for 2002-031 Indexation2 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5).

2003-04 2004-05 510,270 15,791 526,060 41,085 13,795 -13,894 -4,693 -20,681 20,635

562,308 38,455 13,549 -13,825 -4,670 -21,366 8,034

562,308 536,924

582,486 564,761

Industry Regulatory Capital Values at 2002-03 Prices m Closing RCV for 2002-031 Indexation2 Adjustments from Interim Determinations3 Opening RCV Capital expenditure (excluding IRE) Infrastructure renewals expenditure Infrastructure renewals charge Grants & contributions Depreciation Outperformance of regulatory assumptions (5 years in arrears) Closing RCV Average Year RCV
Numbers may not add due to rounding. 1. As set out in RD08/03. 2. Inflating from 2001-02 Prices to 2002-03 prices (179.9/174.5). 3. Northumbrian Water Ltd and United Utilities Water plc.

2003-04 2004-05 32,087 993 -129 32,951 2,866 467 -419 -148 -1,374 -80

34,263 2,611 459 -417 -147 -1,419 -194

34,263 32,732

35,155 34,246