-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DGaH36KqFNkBKKwiO8LgAQlfyOqT48IGPerDtxsEXvKg1gDbtnAc3fmOn/svzqLH
 7mt4ZkeRl7clRGtWhoRmZQ==

<SEC-DOCUMENT>0001181431-03-035461.txt : 20031212
<SEC-HEADER>0001181431-03-035461.hdr.sgml : 20031212
<ACCEPTANCE-DATETIME>20031212162737
ACCESSION NUMBER:		0001181431-03-035461
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031210
FILED AS OF DATE:		20031212

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAXWELL TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000319815
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPUTERS [3571]
		IRS NUMBER:				952390133
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8888 BALBOA AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123
		BUSINESS PHONE:		8582795100

	MAIL ADDRESS:	
		STREET 1:		8888 BALBOA AVENUE
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAXWELL LABORATORIES INC /DE/
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MONTENA SA
		CENTRAL INDEX KEY:			0001177386

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-15477
		FILM NUMBER:		031052186

	BUSINESS ADDRESS:	
		STREET 1:		CH. DELA CORNACKE 1
		CITY:			MATRAN
		STATE:			V8
		ZIP:			1753
		BUSINESS PHONE:		01141223105858

	MAIL ADDRESS:	
		STREET 1:		CH. DELA CURNACKE 1
		CITY:			MATRAN
		STATE:			V8
		ZIP:			1753
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd25538.xml
<DESCRIPTION>FORM 4_ DECEMBER 12, 2003
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-12-10</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000319815</issuerCik>
        <issuerName>MAXWELL TECHNOLOGIES INC</issuerName>
        <issuerTradingSymbol>MXWL</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001177386</rptOwnerCik>
            <rptOwnerName>MONTENA SA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CH. DE LA CORNACHE 1</rptOwnerStreet1>
            <rptOwnerStreet2>CH-1753 MATRAN</rptOwnerStreet2>
            <rptOwnerCity>MATRAN, SWITZERLAND</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription>SWITZERLAND</rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value></securityTitle><transactionDate><value>2003-12-10</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>464927</value></transactionShares><transactionPricePerShare><value>7.32</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>2582927</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivative
Table><ownerSignature><signatureName>Martin Schuett, CFO</signatureName><signatureDate>2003-12-12</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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