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Lossless coding is to become the latest extension of the MPEG-4 audio standard. In response to a call for proposals, many companies have submitted lossless audio codecs for evaluation. The codec of the Technical University of Berlin was chosen as reference model for MPEG-4 audio lossless coding (ALS), attaining working draft status in July 2003. The encoder is based on linear prediction, which enables high compression even with moderate complexity, while the corresponding decoder is straightforward. The paper describes the basic elements of the codec, points out envisaged applications, and gives an outline of the standardization process.