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This paper is devoted to the mathematica l description of the solution of the so-called rainflow reconstruction problem, i.e. the problem of constructing a time series with an a priori given rainflow m atrix. The algorithm we present is mathematically exact in the sense that no app roximations or heuristics are involved. Furthermore it generates a uniform distr ibution of all possible reconstructions and thus an optimal randomization of the reconstructed series. The algorithm is a genuine on-line scheme. It is easy adj ustable to all variants of rainflow such as sysmmetric and asymmetric versions a nd different residue techniques.