Untitled - Cibergeo
Transcrição
Untitled - Cibergeo
+ISKVEJME 8IVVMX×VMS I 8IGRSPSKME 8)66%0-:6) -772 8)66% 0-:6) Í YQE TYFPMGEËÇS WIQIWXVEP HE %+& %WWSGMEËÇS HSW +I×KVEJSW &VEWMPIM VSW 3W EVXMKSW I\TVIWWEQ E STMRMÇS HSW EYXSVIW RÇS MQTPMGERHS RIGIWWEVMEQIRXI RE GSRGSVHÆRGME HE (MVIXSVME )\IGYXMZE SY HS )HMXSV 5YEPUYIV GSVVIWTSRHÎRGME TSHI WIV IRZMEHE TEVE %+& 2EGMSREP EG 'SSVHIREËÇS HI 4YFPMGEËÇS %ZIRMHE 4VSJIWWSV 0MRIY 4VIWXIW )HMJÑGMS +ISKVEJME I ,MWX×VME 'EM\E 4SWXEP 'MHEHI 9RMZIVWMXÅVME ')4 7ÇS 4EYPS 74 &VEWMP 8IPIJSRI VEQEP )HMXSV VIWTSRWÅZIP ;EKRIV 'SWXE 6MFIMVS 'SRWIPLS )HMXSVMEP %PHS 4EZMERM %VMSZEPHS 9QFIPMRS HI 3PMZIMVE %VQIR 1EQMKSRMER %^M^ 2EGMF %F7EFIV &IEXVM^ 7SEVIW 4SRXIW 'EVPSW ;EPXIV 4 +SRËEPZIW +MP 7SHIVS HI8SPIHS ,IMR^ (MIXIV ,IMHIQERR ,SRIWXI +SQIW .SWÍ4IVIMVE HI 5YIMVS^2IX S .SWÍ &S^EGGLMIPPS HE 7MPZE .SWÍ ;MPPMER :IWIRXMRM 0]PMER 'SPXVMREVM 1ERSIP * + 7IEFVE 1ERYIP'SVVIMEHI %RHVEHI 1EVME 0ÞGME )WXVEHE 1EVGME 7T]IV6IWIRHI 1MPXSR 7ERXSW 2IPWSR 6IKS 4EWUYEPI 4IXVSRI 6Y] 1SVIMVE 7EQYIP HS 'EVQS0MQE 7ÑPZMS &VE] 8SQSOS -]HE 4EKERIPPM (MVIXSVME )\IGYXMZE 2EGMSREP KIWXÇS 4VIWMHIRXI %VQERHS 'SVVÎE HE 7MPZE 7IËÇS 7ÇS 4EYPS :MGI4VIWMHIRXI %RXØRMS 'EVPSW 2IM W 7 IËÇS 4SVXS %PIKVI 4VMQIMVE7IGVIXÅVME (IPEGMV % 6EQSW 4SPSRM 7IËÇS 7ÇS 4EYPS 7IKYRHS7IGVIXÅVMS )PMWIY 7EZÍVMS 7TSWMXS {7IËÇS 4VIWMHIRXI 4VYHIRXI 4VMQIMVE8IWSYVIMVE 7ØRME 1EVME 6YJMRS 'EWXIPEV 7IËÇS 7ÇS 4EYPS 7IKYRHE8IWSYVIMVE 1EVME HI .IWYW &IRNEQMQ HE 7MPZE 7IËÇS &IPÍQ 'SSVHIREËÇS HI 4YFPMGEËÙIW ;EKRIV 'SWXE 6MFIMVS 7IËÇS 7Ç S 4EYPS 7YTPIRXI HE 'SSVHIREËÇS HI 4YFPMGEËÙIW &IVREVHS 1EVËERS *IVRERHIW 7IËÇS 4VIWMHIRXI 4VYHIRXI 7YQÅVMS %6IZSPYËÇS8IGRSP×KMGEIS8IVVMX×VMS6IEPMHEHIWI4IVWTIGXMZEW 1MPXSR 7ERXSW 8IGRST×PSYQE*SVQEHI4VSHY^MVRE1SHIVRMHEHI%XYEP 0YM^'VY^0MQE %8IGRMJMGEËÇSHE4VÅXMGE1ÍHMGERS&VEWMP IQ&YWGEHIWYE+ISKVEJM^EËÇS 6EYP&SVKIW+YMQEVÇIW %W1IXEQSVJSWIW8IGRSP×KMGEWHS 'ETMXEPMWQS RS4IVÑSHS%XYEP ,MRHIRFYVKS*VERGMWGS4MVIW %5YIWXÇSHE-RHYWXVMEPM^EËÇSRS6MSHI.ERIMVS%PKYQEW6IJPI\ÙIW 1ÅVGMSHI3PMZIMVE %HIW3VHIQ1YRHMEPSW2SZSW&PSGSWHI4SHIV IS7IRXMHSHE'VMWI 6SKÍVMS,EIWFEIVX 3RXSPSKME%REPÑXMGE8ISVMEI1ÍXSHS %VQERHS'SVVÎEHE7MPZE 3)WTEËS9RI7ITEVE9RI )YRMGI-WEMEWHE7MPZE (ITSMQIRXS %%+&IS4IRWEQIRXS+ISKVÅJMGSRS&VEWMP 1ERYIP'SVVIMEHI%RHVEHI 'ETEHI%MHE'EWWMERS 6IZMWÇSHSWXI\XSWIQMRKPÎW)REPM1(I&MEKKM 'ST]VMKLX F] %+& 8)66% 0-:6) Í YQE TYFPMGEËÇS WIQIWXVEP HE %+& %WWSGM EËÇS HSW +I×KVEJSW &VEWMPIMVSW IQ GSIHMËÇS GSQ E )HMXSVE 1EVGS >IVS 0XHE 6YE ,IVQIW *SRXIW :MPE 1EHEPIRE 7ÇS 4EYPS ')4 8IPIJSRI )WXIRÞQIVSJSMTYFPMGEHSIQQEMSHI )HMXSVMEP 1YMXS WI XIQ IWGVMXSEGIVGEHEXIGRSPSKMEHIWHI SW RSZSWJEXSVIW HI PSGEPM^EËÇSIWTEGMEPHEWEXMZMHEHIWHIFEWIXIGRSP×KMGEEXÍSWIJIMXSWWSGMEMW UYIYQEMRSZEËÇSXIGRSP×KMGEEGEVVIXE%HMQIRWÇSKISKVÅJMGEHIWXEHMWGYW WÇSÍEUYMXVEXEHEVIYRMRHSEVXMKSWUYIZIVWEQWSFVIEIWXVYXYVEËÇSHSXIVVM X×VMS IEWRSZEWXIGRSPSKMEWTEWWERHSTIPSWEVVERNSWIWTEGMEMWUYIWIHÇSRS MRXIVMSVHSWT×PSWXIGRSP×KMGSWMRHSEXÍSGEWSHETVÅXMGEQÍHMGEIQFEWEHE REXIGRSPSKMEIWYEWGSRWIUàÎRGMEWKISKVÅJMGEW 2SW HIQEMW EVXMKSW IRGSRXVEQSW YQE MRXIVTVIXEËÇSHE HMRÆQMGE HSW FPSGSWHITEÑWIWUYIEWWMWXMQSWRSQYRHSGSRXVMFYMËÙIWXI×VMGEWEGIVGEHI GEXIKSVME IWTEËS I YQE ERÅPMWI HE %+& I HE TVSHYËÇS HE KISKVEJME RS &VEWMPREWIËÇS(ITSMQIRXS 4VSGYVEQSW ES SVKERM^EV IWXI RÞQIVS XVE^IV TEVE S MRXIVMSV HI 8)66%0-:6)SXIQÅVMSHEXIGRSPSKME%EQTPMXYHIHEUYIWXÇSGIVXEQIRXI HMXEVÅ E RIGIWWMHEHI HI TEYXÅPE IQ RSZEW SGEWMÙIW TIVQMXMRHS E SYXVSW KI×KVEJSWI\TSVIQWYEWSTMRMÙIWTEVEEWSGMIHEHI 8)66%0-:6) IWXÅ WIRHS TYFPMGEHEGSQ EPKYQ EXVEWS )WXI EXVEWS QIVIGIYQEI\TPMGEËÇS (IWHI S RÞQIVS ERXIVMSV RÇS GSRXEQSW GSQ S ETSMS HEW EKÎRGMEW JMRERGMEHSVEW RETVIGMWÇSHIETVSRXEVEVIZMWXEEXÍEVIEPM^EËÇSHS--)RGSRXVS 2EGMSREP HI )RWMRS HI +ISKVEJME EYXSVM^EQSW E MQTVIWWÇS HS ETSMS HE *YRHEËÇS HI %QTEVS Ä 4IWUYMWE HS )WXEHS HI 7ÇS 4EYPS *%4)74 RE I\TIGXEXMZEHI YQTEVIGIVTSWMXMZS SUYI RÇS WIHIY 8ERXSS 'SRWIPLS 2EGMSREP HI (IWIRZSPZMQIRXS 'MIRXÑJMGSI8IGRSP×KMGS '24U UYERXSE *%4)74RIKEVEQWIEETSMEVRSWWEVIZMWXE %NYWXMJMGEXMZE HS '24U JSM HI SVHIQ IWXVMXEQIRXI JSVQEP 3 TEVIGIV IRZMEHS RÇS ETSRXE RIRLYQE VIWWEPZE UYERXS ES QÍVMXS HE TYFPMGEËÇS TSVÍQ EPIKE E EYWÎRGME HI EPKYQEW RSVQEW TEVE MRHIJIVMVS TIHMHS %W EPXIVEËÙIWUYIMRXVSHY^MQSWRIWXIRÞQIVSVIWTSRHIQÄWI\MKÎRGMEWJSVQEMW %WWMQSWPIMXSVIWTEWWEQEGSRXEVGSQS6IWYQSHSWEVXMKSWXVEHY^MHSIQ MRKPÎW EPÍQ HEW TEPEZVEWGLEZI HI GEHE XI\XS EW HIQEMW I\MKÎRGMEW NÅ GSRWXEZEQ HI RSWWE TVÅXMGE IHMXSVMEP 7IQ HÞZMHE IWXEW MRJSVQEËÙIW EY\MPMEQSPIMXSVUYIKERLEGSQEMRGSVTSVEËÇSHIWXEWQIHMHEW3UYIGEYWE IWXVERLI^E Í S JEXS HS '24U XIVETSMEHS RSWWETYFPMGEËÇSES PSRKSHI ERSW I RYRGE XIV WI QERMJIWXEHS GSQ VIPEËÇS ES RÇS IRUYEHVEQIRXS HI 8)66%0-:6)REWRSVQEWUYIHIVITIRXIWÇSWEGEHEWGSQSXVYRJSTEVE MQTIHMVSEY\ÑPMS'SQSS'24UVIGIFIY XSHSWSWRÞQIVSW ERXIVMSVIWIVE HIWIIWTIVEVUYIIWWEWI\MKÎRGMEWJSWWIQMRHMGEHEWHIWHISRÞQIVS 2S UYI HM^ VIWTIMXS Ä *%4)74 XMZIQSW SYXVE WMXYEËÇS 2IWXI GEWS SE7VEGSRWYPXSVEEPIKSYUYISWEVXMKSWRÇSIVEQTVSHYXSHITIWUYMWE ITSVXERXSRÇSQIVIGIHSVIWHITYFPMGEËÇS%MRHEUYIHSMWXI\XSWXMZIWWIQ SVMKIQIQETVIWIRXEËÙIWZIVFEMWMWXSRÇS WMKRMJMGEUYISWEYXSVIW S4VSJ %PHS4EZMERMVIGSRLIGMHSTIWUYMWEHSVHE92&UYIHMWTIRWEETVIWIRXEËÇSI E 4VSJ 7ØRME *YVMER TVSJIWWSVE HS (ITEVXEQIRXS HI +ISKVEJME HE 974 EXYEPQIRXIHSYXSVERHSWIRE*VERËERÇSHIWIRZSPZIVEQTIWUYMWE4SVÍQS UYIQEMWRSWTVSHY^MYMRHMKREËÇSJSMETVIWIRËEHISYXVSWEVXMKSWSRHIHI QERIMVEI\TPÑGMXESWEYXSVIWMRHMGEZEQXVEXEVWIHITVSHYXSHII\TIVMÎRGMEHI TIWUYMWEHIWIRZSPZMHEIQEPKYRWGEWSW GSQETEVXMGMTEËÇS HIIWXYHERXIW HSW RÑZIMW JYRHEQIRXEP I QÍHMS I IQ SYXVSW GEWSW HS IRWMRS WYTIVMSV 8EQFÍQ XMZIQSWERÅPMWIWHIGSRXIÞHSWTVSKVEQÅXMGSWSJMGMEMWHIIRWMRSHE KISKVEJME HS )WXEHS HI 7ÇS 4EYPS I HE %VKIRXMRE 2ÇS GSRWMHIVEV IWXEW MRMGMEXMZEWGMIRXÑJMGEWÍYQETSWXYVEGIVGIEHSVE %JMREP S UYI ÍGMIRXÑJMGS# %GVIHMXEQSW WIV HMWTIRWÅZIP TSV JEPXE HI IWTEËSITEVETSYTEVSWPIMXSVIWEPXIVGEVIWXEUYIWXÇS3UYIRSWTVISGYTEÍ EEXMXYHIHSEWVEGSRWYPXSVMEHE*%4)742ÇSTSHIQSWZMZIVWSFE×XM GEHSI\GPYWMZMWQS-QTIHMVEZIMGYPEËÇSHIGIVXEWTSWXYVEWNYRXSÄGMÎRGME MWXS WMQ Í YQEEXMXYHIERXMGMIRXÑJMGE4SMWÍHSHIFEXIHIQSGVÅXMGSIÍXMGS UYI WIVIJSVËEQ IWIVIZÎIQEWTSWMËÙIWXI×VMGEWRSVXIEHSVEWHETVSHYËÇS EGEHÎQMGE (EÑWIVJYRHEQIRXEPEHMZIVWMHEHIHIEFSVHEKIRWIRZSPZMHEWRE GSRXIRHE 8)66% 0-:6)NEQEMW IWXIZIE GEVKS HI YQE MRXIVTVIXEËÇS HE KIS KVEJME%SGSRXVÅVMSSWUYIRSWERXIGIHIVEQIWXMZIVEQEXIRXSWÄTPYVEPMHEHI HITSWMËÙIW SUYIQERXMZIQSWRIWXEKIWXÇSGSQS MRGPYWMZIGSRWXEZERE RSWWEGEVXEHIMRXIRËÙIWUYERHSHEIPIMËÇSIQNYPLSHIIQ7EPZEHSV &% 4SVJMQ GEFIYQ ETIPSESWEWWSGMEHSWEWWMRERXIWI PIMXSVIW IQ KIVEP TEVEWIQERMJIWXEVIQNYRXSÄWEKÎRGMEWHIETSMSGMXEHEWREHMVIËÇSHIUYI VIGSRWMHIVIQ WIYW TEVIGIVIW NÅ UYI EW MRWXMXYMËÙIW WÇS QEMSVIW UYI EW TIWWSEWUYITSVIPEWTEWWEQSGEWSHIRSWWEUYEWIWI\EKIRÅVMEIRXMHEHI UYIHITSMW HSW IWJSVËSW HI QYMXSWKI×KVEJSW GSRWIKYMY QEXIVMEPM^EVRSWWE TYFPMGEËÇS9QEVIZMWXEGSQGMVGYPEËÇSIEGIMXEËÇSREGMSREPIMRXIVREGMSREP KVEËEWÄI\GIPÎRGMEHEWGSRXVMFYMËÙIWUYIZMQSWXIRHS%%+&ÍQEMSVUYIE 8)66%0-:6)QEWIWXEÞPXMQEÍYQEMQTSVXERXIJSVQEHII\TVIWWEVRSW WSQSHSHITIRWEVFYWGERHSGSRXVMFYMVTEVESHIFEXIHEWUYIWXÙIWGSRXIQ TSVÆRIEW2ÇSTSHIQSWHIM\EVUYIIWZE^MIQIWXIGEREPHIGMVGYPEËÇSHIRSW WEWMHÍMEWNYRXSÄWSGMIHEHIIÄGSQYRMHEHIGMIRXÑJMGE ;EKRIV'SWXE6MFIMVS %7 1)8%136*37)7 8)'230·+-'%7 (3 '%4-8%0-713 23 4)6±3(3 %89%0 ,MRHIRFYVKS*VERGMWGS4MVIW -2863(9«§3 )WXIXVEFEPLSVITVIWIRXEYQVIWYQSHIVIJPI\ÙIWUYIWIEVXMGYPEQGSQ EW XIQÅXMGEW 6IIWXVYXYVEËÇS 8IVVMXSVMEP I %PXE 8IGRSPSKME EW UYEMW WI GSRWXMXYIQIQSFNIXSHIXVEFEPLSHIXIWIHIHSYXSVEQIRXSIQERHEQIRXS %MQTVIWWÇS UYIWITSHIGSRXIWXEVWSFVISW XVEFEPLSWVIPEGMSREHSW E IWWEXIQÅXMGEÍUYII\MWXIQI\TVIWWÙIWUYIKERLEQEXYEPMHEHIRSHMWGYVWS GMIRXÑJMGS WIQ UYI WIYW JSVQYPERXIW WEMFEQ WIUYIVUYEMW WÇS EW QEXVM^IW XI×VMGEWUYIEWJSVQYPEVEQ %PKYQEWZI^IWSHMWGYVWSHEQSHETVSTMGMEETVSPMJIVEËÇSHIMRÞQIVSW XI\XSW EVXMKSW PMZVSW I EXÍ QYMXEW ZI^IW UYIVIPEW GYNSW GSRXIÞHSW IWXÇS FEWIEHSWRIWWEWI\TVIWWÙIW%JVEKMPMHEHIHIWWIWGSRXIÞHSWQEPXVERWJSVQE HSWIQ GSRGIMXSWJE^IQIVKMVMKYEPQIRXIEWYEVÅTMHEETEVMËÇSIXEQFÍQ WIY VÅTMHS HIGPÑRMS S UYI EGSRXIGI GSQ I\TVIWWÙIW GSQS 6IZSPYËÇS 8ÍGRMGS'MIRXÑJMGE 'MZMPM^EËÇS 4×W-RHYWXVMEP 8IVGMÅVME 8IGRSXVØRMGE 7SGMIHEHIHE-RJSVQEËÇS)VEHS7MPMGSR 8IVGIMVE3RHE1IKEXVIRHWIXG 8IVQSWUYIWÇSFIQYWYEMWREPMXIVEXYVETWIYHSGMIRXÑJMGEEXYEP WIQUYIEW VEÑ^IW ISWTVSHYXSVIWHIWWEWMHÍMEWWINEQVIZIPEHSWIQXSHSWWIYWQEXM^IW %S TVSGYVEV VIJPIXMV WSFVI SW JYRHEQIRXSW UYI MRWTMVEQ HMJIVIRXIW GSVVIRXIW E JSVQEVIQ S GSVSPÅVMS XI×VMGS HI JSVQYPEËÇS HIWWEW MHÍMEW TVIXIRHIWIMRMGMEVNYRXSESTIRWEQIRXSKISKVÅJMGSEPKYQEWVIJPI\ÙIWWSFVI XISVMEW MHISPSKMEW I YXSTMEW HIWWE LMWX×VME EMRHE TSYGS IWXYHEHE TIPE KISKVEJME TVMRGMTEPQIRXI WSFVI EW MRJPYÎRGMEW I MQTEGXSW HIWWEW QIXEQSVJSWIWXIGRSP×KMGEWRSIWTEËS %WWMQ IWXI IWXYHS TVIXIRHI GSRXVMFYMV TEVE EQTPMEV ITMWXIQS PSKMGEQIRXIEVIJPI\ÇSWSFVIIWWEXIQÅXMGEREMRXIRËÇSHIXIRXEVHIFYPLEVS MRXVMGEHS PIKYQI HEW XISVMEW E ITMWXÍQI I XIRXEV HIWZIRHEV ETEVXMVHEW WIQIRXIW TPERXEHEW TSVIWWEW XISVMEW GSQS IWXEW JSVEQ TPERXEHEWI GSQS 4VSJIWWSV %WWMWXIRXI HS (ITXS HI +ISKVEJME 9RMZIVWMHEHI )WXEHYEP HS 6MS HI .ERIMVS HE 9)6. 6MS HI .ERIMVS I HSYXSVERHS RS (ITXS HI +ISKVEJME HE 974 7ÇS 4EYPS 8)66% 0- :6) %+ & 7ÇS 4EYPS TT R NYPLSHI^IQFVS KIVQMREVEQEWHMJIVIRXIWGSVVIRXIW XI×VMGEWIQ MRÞQIVEW HMWGMTPMREW UYI IWXÇSTVISGYTEHEWIQGEVEGXIVM^EVSEXYEPTIVÑSHSLMWX×VMGSFYWGERHSWIYW SFNIXSWHITIWUYMWEIVIJPIXMRHSWSFVIEWTSWWMFMPMHEHIWHIJSVQEËÇSHIRSZSW TEVEHMKQEW 9QE HEWJPEKVERXIWHIJMGMÎRGMEW HS WEFIVKISKVÅJMGSEXYEP RS&VEWMP VIWMHIXEPZI^REMRWYJMGMÎRGMEJMPSW×JMGEHIWIYPIKEHSXI×VMGS 4SYGSWJSVEQ SWKI×KVEJSWUYIWIHIFVYËEVEQWSFVIXIQEWUYIIRZSPZIQEWUYIWXÙIWWSFVI EW TEVXMGYPEVMHEHIW HEW QIXEQSVJSWIW TVSTSVGMSREHEW TIPEW MRSZEËÙIW XIGRSP×KMGEW REW JSVËEW TVSHYXMZEW I REW VIPEËÙIW HI TVSHYËÇS SY REW JSVQEËÙIW IGSRØQMGSW×GMSIWTEGMEMW S UYI QYMXEW ZI^IW MQTYPWMSREVEQ EPKYRWIWXYHMSWSWHE+ISKVEJMEEXSQEVTSVIQTVÍWXMQSSFNIXSWMHISPSKMEW GEXIKSVMEW RSËÙIW GSRGIMXSW I EXÍ IUYÑZSGSW MRHIWINEHSW TEVXMPLEHSW TSV SYXVEWHMWGMTPMREWGSQSE7SGMSPSKME)GSRSQMEIXG 4SYGEW ZI^IW S VIWYPXEHS IPEFSVEHS HIVIJPI\ÙIW XIQNYWXMJMGEHS IQ EPKYRW XVEFEPLSW KISKVÅJMGSW E MRXIVXI\XYEPMHEHI I E MRXIVHMWGMTPMREVMHEHI GSQSTVIQMWWESYGSQTSRIRXIHIYQEGSQTVIIRWÇSJMPSW×JMGEHIGSRXIÞHSW HISYXVSWWEFIVIW2ÇSHÅTEVERIKPMKIRGMEVSGSRXVMFYXSHISYXVEWHMWGMTPMREW REJSVQEËÇSIRSEZERËSHEXISVMEHE+ISKVEJMEIQWYETIVWTIGXMZEGMIRXÑJMGE IGVÑXMGE QEW Í TVIGMWSFYWGEVS UYIVIEPQIRXITSWWE GSRWXMXYMVSFNIXSW HI IWXYHS TEVE RÇS WI GEMV RE YXMPM^EËÇS HI GIVXSW IQTVÍWXMQSW TSV WMQTPIW QSHMWQS 46-1)-6% 1)8%136*37) 3463')773()2)+%«§3(386%&%0,3:-:34)0%'-®2'-% 9QEKVERHIGSRWXIPEËÇSHIVIJPI\ÙIWWSFVISTVSGIWWSHIRIKEËÇSHS XVEFEPLSZMZSTIPEGMÎRGMETSHIWIVIRGSRXVEHERSW+VYRHVMWWI UYIVIÞRIQ E TEVXMV HS HIWIRZSPZMQIRXS HE KVERHI MRHÞWXVME IWXYHSW VIJIVIRXIW ES GVIWGMQIRXS HE TEVXMGMTEËÇS HE GMÎRGME I HS TVSKVIWWS XIGRSP×KMGS RS TVSGIWWS HI TVSHYËÇS SRHI JMGEVEQ IZMHIRGMEHEW GSRWMHIVEËÙIW WSFVI E TEVXMGMTEËÇSHEGMÎRGMEUYIHIRXVSHSTVSGIWWSTVSHYXMZSLEZMEKIVEHS YQ ZEPSV UYEPMXEXMZEQIRXI RÇS QEMW QIRWYVEHS ETIREW TIPS UYERXYQ HI XVEFEPLS WSGMEPQIRXI YXMPM^EHS SY I\XVEÑHS HS XVEFEPLS ZMZS I SRHI S XVEFEPLSZMZSWYGYQFMEÄWVIPEËÙIWQIHMEXM^EHEWHIM\ERHSHIGSRGIFIVXSHEE XSXEPMHEHI HS TVSGIWWS TVSHYXMZS TEWWERHS E RÇS QEMW EWWYQMV S TETIP MQIHMEXS HI GVMEËÇS HI VMUYI^EW 3 XVEFEPLS ZMZS XIVME WYE EXMZMHEHI XVERWJSVQEHE HI WYTSVXI EXMZS TEVE E GSRHMËÇS QIHMEXMZE TEWWMZE HS 8VEXEWI HS PMZVS )PIQIRXSW *YRHEQIRXEPIW TEVE PE 'VÑXMGE HI PE )GSRSQME 4SPÑXMGE +VYRHVMWWI IWGVMXS TSV 1%6< / 1 % 6 < / ST GMX TT TVSGIWWSTVSHYXMZSSYWINEHIM\EZEHIWIVWYNIMXSHSTVSGIWWSTVSHYXMZSI TEWWEZEEXIVYQEVIPEËÇSHIQIHMEËÇS 7IKYRHSIWWEWMHÍMEWGSQSEZERËSHEWMRSZEËÙIWXIGRSP×KMGEWIQS HMJMGEËÙIWRSHIWIQTIRLSHEWVIPEËÙIWHITVSHYËÇSSTETIPHIWIQTIRLEHS TIPEGMÎRGME I TIPEXIGRSPSKMETEWWSY E WIV QEMW WMKRMJMGEXMZS IPIZERHS E TVSHYXMZMHEHIIEQTPMERHSEVMUYI^EQEXIVMEPTVSHY^MHETIPEWSGMIHEHI %WWMQEMHÍMEHIRIKEËÇSHSXVEFEPLSZMZSTIPSWMWXIQETVSHYXMZSHE KVERHI MRHÞWXVMETEVIGIY GSRHY^MV Ä VIJPI\ÇS HMEPÍXMGE HE RIKEXMZMHEHI HS TVSGIWWSHITVSHYËÇSMRHYWXVMEPNÅUYIEWQIXEQSVJSWIWXIGRSP×KMGEWTVSQS ZMHEWRSTVSGIWWSTVSHYXMZSXVEVMEETEVIRXIQIRXIEI\TPSWÇSHIWYEWFEWIW )WXEXISVMEHERIKEXMZMHEHIHSTVSGIWWSHIXVEFEPLSZMZSHIYQEVKIQTEVEE HIHYËÇSP×KMGEHSTVSGIWWSGSRXVEHMX×VMSHIUYIHEXIRHIRGMEPHEXE\EHIPYGVS UYI VIWYPXEVME HS EYQIRXS HE GSQTSWMËÇS SVKÆRMGE HS GETMXEP 'SQ E HMQMRYMËÇSHSIQTVIKSHSXVEFEPLSZMZSMQIHMEXSIGVIWGMQIRXSHETEVXM GMTEËÇSHSXVEFEPLSGMIRXÑJMGSKIVEPSGETMXEPXVEFEPLEEWWMQIQJEZSVHI WYETV×TVME HMWWSPYËÇS GSQSJSVQE HSQMRERXI HE TVSHYËÇS 7IQIPLERXI HIHYËÇSJSMI\TVIWWEHIQSHSEXÍQEMWIRJÅXMGSTSVSYXVSWEYXSVIWGSQSE GSRGITËÇSHIUYISGETMXEPMWQSRÇSWSFVIZMZIVMEÄWGSRXVEHMËÙIWUYIWYVKMEQ GSQESFNIXMZEËÇSHSTVSGIWWSTVSHYXMZS )WXE GSRGITËÇS HI MRWTMVEËÇS IWGEXSP×KMGE I XIPISP×KMGE FEWIEHE RE UYIHEXIRHIRGMEPHEWXE\EWHIPYGVSTIVQISYQYMXEWHEWVIJPI\ÙIWWSFVIEW IZMHÎRGMEWGÑGPMGEWHEW GVMWIWHSGETMXEPMWQS% QEMSVMEHEW HIHYËÙIW UYI HIGSVVIVEQHIWWEWIWTIGXEXMZEWGSRXVMFYÑVEQTEVEEJSVQEËÇSHIYQEPIMXYVE 1%6< / ST GMX T 1EV\ / ST GMX T *SM S GEWS HI )0090 . IQ% 8ÍGRMGE I S (IWEJMS HS 7ÍGYPS 3 GETMXEPMWQS MQTIHI SJYRGMSREQIRXS HS EYXSQEXMWQS XÍGRMGS S UYEP I\MKI UYI YQ QÍXSHS QEMW IJMGMIRXI UYI YQE QÅUYMRE QEMW VÅTMHE WYFWXMXYE EYXSQEXMGEQIRXI MTWS JEGXS S QÍXSHS SY QÅUYMRE ERXIVMSV ) RÇS SW HIM\E JYRGMSREV RÇS ETIREW TSVUYI S GETMXEPMWQS WYFSVHMRE E XÍGRMGE E JMRW EPLIMSW Ä TV×TVME XÍGRMGE S UYI Í MREHQMWWÑZIP QEW XEQFÍQ TSV UYI Í MRGETE^ HI EFWSVZIV IWWI TVSKVIWWS XÍGRMGS E WYFWXMXYMËÇS HEW QÅUYMREW RS QIWQS VMXQS HE MRZIRËÇS XÍGRMGE Í MQTSWWÑZIP TEVE YQE IQTVIWE GETMXEPMWXE TSVUYI RÇS WI XIQ XIQTS HI EQSVXM^EV YQE QÅUYMRE I IMW UYI SYXVEW RSZEW ETEVIGIQ I TSVXERXS QEMW IJMGE^IW QEMW GEVS GYWXEQ %GSQTERLEV S EYXSQEXMWQS XÍGRMGS GSVVIWTSRHIVME E GSRHIREV SW RIK×GMSW GETMXEPMWXEW Ä JEPÎRGME S VIKMQI GETMXEPMWXE XEQFÍQ RÇS TSHI RS TPERS IGSRØQMGS I WSGMEP WIKYMV S EYXSQEXMWQS XÍGRMGS TSVUYI Í MRGETE^ HI SVKERM^EV YQ WMWXIQE HI VITEVXMËÇS HSW TVSHYXSW UYI TIVQMXE EFWSVZIV XYHS S UYI E XÍGRMGE TIVQMXI TVSHY^MV Í PIZEHS MRIZMXEZIPQIRXI E GVMWIW HI WYTIVTVSHYËÇS XEQFÍQ RÇS TSHI YXMPM^EV E QÇSHISFVE PMFIVEHE TIPS TVSKVIWWS XÍGRMGS SGSVVI IRXÇS E GVMWI HS HIWIQTVIKS GETMXEPMWQS GSQS XSHS WIY TSHIV WIVÅ UYIFVEHS TSV IWWI EYXSQEXMWQS VSQÆRXMGEHSPIKEHSQEV\MWXE WSFVISEYQIRXS HEGSQTSWMËÇSSVKÆRMGEHS GETMXEPIWYEWGSRWIUàÎRGMEWTEVEEVITVSHYËÇSHSWMWXIQEGETMXEPMWXE %HIRWMHEHIHEWVIJPI\ÙIWWSFVIEWXIRHÎRGMEWHEWSGMIHEHIMRHYWXVMEP GSRXMHERSW+VYRHVMWWI ITEVEEPÍQHIPIW VIZIPEVEQYQEGSQTVIIRWÇSHE P×KMGEHSWTVSGIWWSWHITVSHYËÇSIHSHIWIRZSPZMQIRXSHSWQIMSWHIXVEFE PLSIWYEWQIXEQSVJSWIWHERHSQEVKIQITSWWMFMPMHEHIEYQIRXIRHMQIRXS TVSWTIGXMZS HEW QSHMJMGEËÙIW I\TIVMQIRXEHEW TIPS TVSGIWWS KPSFEP HI TVSHYËÇS 7IKYRHS EWVIJPI\ÙIW GSRXMHEW RSW +VYRHVMWWI S TVSGIWWS P×KMGS HI RIKEËÇSHSXVEFEPLSZMZS TSHIWIVVIWYQMHSIQXVÎWIXETEW ETVSHYËÇSWMQTPIWWIEWWIRXEZEREI\TPSVEËÇSHSEKIRXIHSTVSGIWWS TVSHYXMZSMQTPMGERHSIQWYEWYFSVHMREËÇSJSVQEPII\XVEËÇSHIQEMWZEPME EFWSPYXE SRHI S XVEFEPLS ZMZS I\IGYXEZE STETIP HI WYTSVXI HS TVSGIWWS TVSHYXMZS S TVSGIWWS HITVSHYËÇSMQTØW YQE WYFSVHMREËÇSVIEP HS XVEFEPLS FEWIEHEREI\XVEËÇSTPIREHIQEMWZEPMEVIPEXMZEMQTPMGERHSRSWIYIRZSP ZMQIRXSIRUYERXSETÎRHMGISYZMKME WYTIVZMWSV HSTVSGIWWSTVSHYXMZSS XVEFEPLS ZMZSTIVHIY WYE GETEGMHEHI HIGSRGIFIV S TVSGIWWS IQ XSHE WYE XSXEPMHEHI XVERWJSVQERHSWI LMWXSVMGEQIRXI IQ QIVS EGIWW×VMS ZMZS HS TVSGIWWS YQ QIMS TEVE E EËÇS HEW QÅUYMREW SY IRXÇS ETVIWIRXERHSWI GSQSYQIPIQIRXSETEVIRXIQIRXIWYTÍVJPYS RETVSHYËÇSQERYJEXYVEHEHIKVERHIIWGEPESTVSGIWWSVIWYPXERXIJSM SFNIXMZEHS QEMW EGIRXYEHEQIRXI UYI RE WIKYRHE IXETETSMW WI MRXIVZIV XIVEQ EWVIPEËÙIWHIETVSTVMEËÇSHS XVEFEPLSNÅUYI WIHIWIRZSPZIVEQ RS TVSGIWWSTVSHYXMZSYQESFNIXMZEËÇSHEGMÎRGMEESTVSGIWWS SYWINEGSQE EYXSQEXM^EËÇS E JSVQE QEXIVMEP TEWWSY E GSQERHEV QEMW MRXIMVEQIRXI S TVSGIWWSGSQSYQ XSHSIEI\TPSVEËÇSTEWWSY XEQFÍQTSVYQEQIXEQSV JSWIWIIJIXMZERHSTIPEJSVQEHSRÇSXVEFEPLSRIKERHSEVIPEËÇSMQIHMEXEHI TVSHYËÇSHSXVEFEPLS3WMKRMJMGEHSHEETVSTVMEËÇSHSXVEFEPLSGSPIXMZSWSF E JSVQE HI GMÎRGME TIPS GETMXEP MQTPMGSY RE WYFSVHMREËÇS MRXIPIGXYEP HS XVEFEPLSUYITEWWSYEWIVYQWIVZS HSTVSGIWWSTVSHYXMZSUYIXIRHIYGEHE ZI^QEMWEWIXSVREVQEMWIQEMWGMIRXÑJMGS *EYWXSV 6 IQ % 4×W+VERHI -RHÞWXVME RSW +VYRHVMWWI I TEVE %PÍQ (IPIW 1 % 6 < / ST GMX T 1 % 6 < / ST GMX T 1 % 6 < / ST GMX T 1 % 6 < / ST GMX T 1%6< / 8ISVMEW HE 1EMW:EPME :SP 0 %WWMQ G SQ S 1%6< ERXIZMY E WYTIVEËÇS HS XVEFEPLS ZM ZS TIPS EYXSQEXMWQS I E SFNIXMZEËÇS HS TVSGIWWS HI XVEFEPLS TEVE +6%17' - % IQ WYEW 3FVEW IWGSPLMHEW RE TEVXI %QIVMGERMWQS I *SVHMWQS %GMÎRGMEUYIJSMEGMSREHEESTVSGIWWSHITVSHYËÇSRÇSI\MWXMYEMRHE REGSRWGMÎRGMEHSXVEFEPLEHSVWYEI\MWXÎRGMESTIVEXMZEWIVIEPM^EZEEXVEZÍWHE VIPEËÇSQÅUYMREXVEFEPLSSYWINEGSRGVIXM^EZEWIRSXVEFEPLSSFNIXMZEHSUYI WIETVSTVMSYHSXVEFEPLSZMZSUYIRSTVSGIWWSHITVSHYËÇSHIM\SYHI WIV WYNIMXS I RÇS IVE QEMW YQE YRMHEHI HSQMRERXI HS TVSGIWWS EPÍQ HI XIV HIM\EHSHISGSRGIFIV %RIKEËÇSHSXVEFEPLSZMZSJSMYQTVSGIWWSRIGIWWÅVMSHSGETMXEPUYI XVERWJSVQSYSQEUYMREHSISTVSGIWWSHIEYXSQEXM^EËÇSIQYQTSHIVUYIS HSQMRSY I PLI IVE IWXVERLS % YXMPM^EËÇS HE GMÎRGME IRUYERXS JSVËE TVSHYXMZE MHIRXMJMGEHE GSQS XVEFEPLSWSGMEPEGYQYPEHSGETMXEPXÍGRMGS XVERWJSVQSYEREJSVQEQEMW EHIUYEHEHIVITVSHYËÇSIJSVQEËÇSHSGETMXEPIQKIVEP %EYXSQEXM^EËÇS WI HIWIRZSPZIYGSQEEGYQYPEËÇSHEGMÎRGMEWSGMEP GETMXEP XÍGRMGSEQÅUYMREHIM\SY HI WIVS QIMSHI XVEFEPLSHS XVEFEPLS MRHMZMHYEP2IWWETIVWTIGXMZEEKVERHIGSQTVIIRWÇSTVSWTIGXMZEUYIWITSHI VIXMVEVVIWMHMYXEPZI^IQWIXIVHIWXEGEHSTVMRGMTEPQIRXIRSW+VYRHVMWWI UYISXVEFEPLSZMZSETEVXMVHSHIWIRZSPZMQIRXSHEKVERHIMRHÞWXVMETEWWSY EWIGSRWXMXYMVREQEXÍVMEHI EGMSREQIRXSHEQÅUYMREITEWWSY XEQFÍQE I\IVGIVSTETIPHIWYTIVZMWSVUYIETVIWIVZEZEHITSWWÑZIMWEZEVMEW 3 XVEFEPLS ZMZS XVERWJSVQSYWIIQ IPIQIRXS EGIWW×VMS IEGMÎRGME S WYNIMXSHSTVSGIWWS TVSHYXMZS WSF E JSVQEHIWSGMEP ORS[PIHKI SY GSRLI GMQIRXSWSGMEPEGYQYPEHS %GMÎRGMEXSVRSYWIMRHMVIXEQIRXI HIWWIQSHS UYEWIKYEVHMÇHEVIEPM^EËÇSHSGETMXEPIQKIVEPREQIHMHEIQUYIHIRXVSHI WYEIWJIVEHIEXYEËÇSIHIRXVSHSWPMQMXIWHSGETMXEPMRHMZMHYEPSWMKRMJMGEHS HEMRGSVTSVEËÇSEHMGMSREP HITVSHYXMZMHEHI EVIHYËÇSHS XIQTS WSGMEP HI XVEFEPLSIEHMQMRYMËÇSHSIQTVIKSHIXVEFEPLEHSVIWEXVEZÍW HS JSVXEPIGM QIRXSHEEYXSQEXM^EËÇSXIRHIVEQEVIKYPEVEWGSRXVEHMËÙIWHEVITVSHYËÇS P×KMGEHSGETMXEPIEGSRWXMXYMVYQ GSQTSRIRXIHIGSRXVEXIRHÎRGMEÄUYIHE TVSKVIWWMZEHEWXE\EWHIPYGVS %TEVXMVHSW+VYRHVMWWITSHIWIGSRGPYMVUYIIVEYQEFWYVHS TIRWEVE TVSHYËÇSHI ZEPSVWIRHSTVSHY^MHETIPSGETMXEP JM\SSXVEFEPLSMRXIPIGXYEP EGYQYPEHS WSF E JSVQE HI TIWUYMWE XIGRSPSKME I WSJX[EVI XEQFÍQ E MRXVSHYËÇS HS XE]PSVMWQS WMKRMJMGSY TSV TEVXI HS STIVÅVMS E TIVHE HS GSRXIÞHS MRXIPIGXYEP HS XVEFEPLS +6%17'- JSM UYIQ IRXVI SW QEV\MWXEW IJIXYSY ES UYI XYHS MRHMGE TIPE TVMQIMVE Z I^ YQE GVÑXMGE WSFVI E XVENIX×VME HE HMWWIQMREËÇS IGSRØQMGE GYPXYVEP I EHQMRMWXVEXMZE HS XE]PSVMWQS I HS JSVHMWQS RSW )9% 1 % 6 < / ST GMX 7 - 0 : % % ' 3 'ETMXEP 8ÍGRMGS I S )WTEËS 7 - 0 : % % ' ST G MX T TVSHY^MVME ZEPSV ES GSRXVÅVMS HS UYI EPYHIQ EPKYRW XI×VMGSW LSNI UYERHS WIQ QEMSVIWVIJPI\ÙIW QIRGMSREQ ETVSHYËÇS HIORS[LS[GSQS ERXÑXIWIHEW XIWIWHS ZEPSVQEV\MWXE %SGSRXVÅVMSHSUYI WI WYTÙIXIRXEV MRHMGEVYQ HIWZMSVMGEVHMERSRE XISVMEHSZEPSVREW VIJPI\ÙIWGSRXMHEWRSW +VYRHVMWWIWIVMESQIWQSUYIRIKPMKIRGMEVEWWYEWGSRWMHIVEËÙIW HIUYIS XVEFEPLSGSPIXMZSSY WSGMEP WSFEJSVQEHIGMÎRGMESY XVEFEPLS MRXIPIGXYEP EGYQYPEHSIRÇSETIREWSXVEFEPLSZMZSMRHMZMHYEPMVMETVSHY^MVZEPSVSY WINE S XVEFEPLS MRXIPIGXYEP IQ WYE JSVQE EFWXVEXE SY GSPIXMZE TEWWEVME WIKYRHSIWWEW VIJPI\ÙIW E WYFSVHMREV S TVSGIWWS HITVSHYËÇS EXVEZÍW HS VSYFSHSXIQTS PMZVI TVSHY^MHSTIPEWSGMIHEHI 1EW RIWWEW VIJPI\ÙIW GSQS JMGEZE S IWTEËS JVIRXI ES TVSGIWWS HI QIXEQSVJSWI HEW VIPEËÙIW HI XVEFEPLS IJIXYEHS TIPS HIWIRZSPZMQIRXS HE TVSHYËÇS HE KVERHI MRHÞWXVME# %W GSRWMHIVEËÙIW QEMW JVIUàIRXIW E IWWI VIWTIMXSWÇSEMRHEXÎRYIWIIWTEVWEWQEWTSHIVÇSGSRXVMFYMVTEVEEQTPMEVE VIJPI\ÇSWSFVISWMQTEGXSWTVSHY^MHSWTIPEWQSHMJMGEËÙIWMRXVSHY^MHEWTIPE KVERHIMRHÞWXVMERSIWTEËSSRHIIWWIWSFEJSVQEHIXIVVMX×VMSTSHIVMEWIV JSVQEPQIRXIIQEXIVMEPQIRXIMRGSVTSVEHSTIPSTVSGIWWSHIXVEFEPLS %SFNIXMZEËÇSTVSHY^MHE RSTVSGIWWSHITVSHYËÇSTEWWSYEI\MKMVE TVSHYËÇSHIQIMSWTEVEEGVMEËÇSHIZEPSVIXEQFÍQETVSHYËÇSHIGETMXEP JM\SQIRSWWYGITXÑZIPESHIWKEWXIIHIQEMSVHYVEFMPMHEHI 2IWXIWIRXMHSE FYWGE TSV RSZSW QEXIVMEMW TEVIGIY WIV MRGIWWERXI GSRWXMXYMRHSWI RYQE RIGIWWMHEHITVIQIRXIHIQIPLSVMERSHIWIQTIRLSHSTVSGIWWSHITVSHYËÇS %WWMQ XIVVMX×VMSW QEXÍVMEWTVMQEW RSZEW JSRXIW HI IRIVKME QSXVM^IW TEWWEVEQEWIVEPZSHIHMWTYXEIRXVISW)WXEHSWQIWQSTSVUYIEMRHERÇSWI IPEFSVEZERIRLYQEQEXÍVMETVMQETEVEETVSHYËÇS3UYIGSRXMRYEZEEMRHE TIVWMWXMRHS I I\IVGIRHS QIWQS EMRHE LSNI YQE VIPEXMZE MRJPYÎRGME RE PSGEPM^EËÇSHEWEXMZMHEHIWMRHYWXVMEMW S UYI RSW VIZIPE 7-0:% % ' IQ WIY VIGIRXI XVEFEPLS 7SJX[EVI I :EPSV 8I\XS EMRHEMRÍHMXS S GEWS HI 2%-7&-88. EYXSV HS FEHEPEHS FIWXWIPPIV1IKEPVIRHW 637>%/ 8 JE^ YQE SFWIVZEËÇS WIQIPLERXI E IWXE IQ WIY PMZVS 3 'YPXS Ä -RJSVQEËÇS 1 % 6 < / ST GMX 69= *%9783 ST G MX .Å ZMQSW UYI SW PMQMXIW HS IWTEËS HI XVEFEPLS WÇS UYIFVEHSW TIPE RSZEJSVQE HI TVSHYËÇS QEXIVMEP 3 TVSHYXSV WI WMXYE JSVE HE TVSHYËÇS 0SRKI HI WMKRMJMGEV YQE MRZEWÇS HS IWTEËS HI RÇS XVEFEPLS TIPS XVEFEPLS IWWI QSZMQIRXS VITVIWIRXE S GSRXVÅVMS HMWXS RS GETMXEPMWQS HI KVERHI MRHÞWXVME UYI SW IWTEËSW I\XIVMSVIW ES HS XVEFEPLS WÇS MRZEHMHSWJSVQEP SY QIWQS QEXIVMEPQIRXI TIPS TVSGIWWS HI XVEFEPLS 1 % 6 < /ST G M X % FMSXIGRSPSKME IWXÅ GSQIËERHS EEPXIVEV EVIPEËÇS IRXVI IQTVIWEW I XIVVMX×VMSW IQTVIWEW I HMWTSRMFMPMHEHI HI QEXÍVMEWTVMQEW I IQTVIWEW I JSRXIWRÇSVIRSZÅZIMWHIIRIVKMERSIWTEËS )QFSVE EPKYRW KI×KVEJSW SVXSHS\EQIRXI EMRHE ZMRGYPEHSW ESW QEV \MWQSXIMQIQTSVRÇSGSRGSVHEVLSYZIYQEUYEWIEYWÎRGMEHIXVEXEQIRXS XEPZI^MRMRXIRGMSREPWSFVIEMQTSVXÆRGMEHSWJEXSVIWHIPSGEPM^EËÇSXIVVMXSVMEP HEW EXMZMHEHIW MRHYWXVMEMW IWTEVWEW HMKVIWWÙIW WSFVI S)WXEHSI EW GPEWWIW WSGMEMWETEVIGIVEQRSW+VYRHVMWWISUYIEMRHEEWWMQQIWQSRÇSVIXMVSY WYEVIPIZÆRGMEÄGSRXVMFYMËÇSTEVESHIWIRZSPZMQIRXSHEVIJPI\ÇSGVÑXMGEHE +ISKVEJME 7)+92(% 1)8%136*37) %'-®2'-%'313*36«%463(98-:%393746-1·6(-37 (% 6):309«§3 8'2-'3'-)28±*-'%# 3 GVIWGMQIRXS RS TIVÑSHS EXYEP HE YXMPM^EËÇS HS GETMXEP JM\S I HE GMÎRGMERSTVSGIWWSHITVSHYËÇSTSWWMFMPMXSYETEVIRXIQIRXIEEQTPMEËÇSHEW QIXEQSVJSWIW XIGRSP×KMGEW MREYKYVERHS YQTIVÑSHSIQ UYIEGMÎRGMEIE XÍGRMGEGSRXVMFYÑVEQVIPEXMZEQIRXITEVESGVIWGMQIRXSHETVSHYXMZMHEHIHS XVEFEPLSITEVEEGSRWSPMHEËÇSHIYQEJSVËEGSRXVÅVMEÄUYIHEXIRHIRGMEPHEW XE\EWHIPYGVS %WMRSZEËÙIWXÍGRMGEWGVIWGIVEQGSQSMRGVIQIRXSREGSQTSWMËÇS HS GETMXEP RYQ VMXQS RYRGE ZMWXS EPXIVERHS SW ERXMKSW TVSGIWWSW HI SVKERM^EËÇSHSWMWXIQEHITVSHYËÇSEQTPMERHSGSQ EYXMPM^EËÇSMRXIRWMZE HSXVEFEPLSXVEFEPLSJPI\ÑZIPETVSHYXMZMHEHIQÍHMEHSTVSGIWWSTVSHYXMZS IWSPETERHSEFEM\EYXMPM^EËÇSHEWXÍGRMGEWHITVSHYËÇS3GMGPSHSTVSHYXS JSMQSHMJMGEHSEWWMQGSQS WYEHMWXVMFYMËÇSIGSQIVGMEPM^EËÇSTEWWEVEQE WIVYXMPM^EHSWXEQFÍQRSZSWIGMIRXÑJMGSWQÍXSHSWHIVIEPM^EËÇSHSGSRWYQS S1EVOIXMRK 7SFVI IWXI EWWYRXS JSM TYFPMGEHS TSV *)0(1%2 1 1 % S EVXMKS &MSXIGLRSPSK] ERH 0SGEP )GSRSQMG +VS[XL 8LI %QIVMGER 4EXXIVR MR ,%00 4 I 1%6/97 )2 % )H 7MPMGSR 0ERHWGETI 5 Y E R H S 1%6< EREPMWSY RS 'ETMXEP :SP --- SW JEXSVIW UYI MQTYPWMSREZEQ E XIRHÎRGME KIVEP HI UYIHE HEW XE\EW HIPYGVSW TVSGYVSY IZMHIRGMEVUYI S EYQIRXS HS IQTVIKS HI GETMXEP JM\S E HMQMRYMËÇS TVSKVIWWMZE HS YWS HS XVEFEPLS Z MZS TVSQSZMHS T IP S TVSGIWWS HI SFNIXMZEËÇS HE TVSHYËÇS EYXSQEXM^EËÇS I E TIVWMWXÎRGME GSRWXERXI HS ZEPSV I HE TVSHYXMZMHEHI TSHIVMEQ EGEVVIXEV YQE UYIHE XIRHIRGMEP HEW XE\EW HI PYGVSW QEW 1%6< XEQFÍQ EHQMXMY E TSWWMFMPMHEHI HI JSVQEËÇS HI JEXSVIW HI GSRXVEXIRHÎRGME HS TVSGIWWS HI UYIHE XIRHIRGMEP HEW XE\EW HI PYGVSW EXVEZÍW HSW EZERËSW TVSTMGMEHSW TIPE GMÎRGME I TIPEW MR SZE ËÙ IW XIGRSP×KMGE W UYI TSHIVMEQ HIWIRZSPZIV QIG ERMWQSW UYI TSWWMFMPMXEQ S EYQIRXS HE TVSHYXMZMHEHI HS XVEFEPLS WSGMEP E HMZIVWMJMGEËÇS HSW VEQSW HI TVSHYËÇS I HSW XMTSW HI TVSHYXSW %WMRSZEËÙIWXIGRSP×KMGEWIEWQSHMJMGEËÙIWMQTPIQIRXEHEWRSIQTVI KSHIRSZSWQEXIVMEMWVIZIPEVEQWIQYMXSQEMWUYIIJIMXSWHIEHIUYEËÇSESW MQTEGXSW HI WYGITXMFMPMHEHI QEXIVMEP HS GETMXEP JM\S TVSHY^MHSW TIPS HIWIRZSPZMQIRXSHSWTVSGIWWSWHISFNIXMZEËÇSIEYXSQEXM^EËÇSHS WMWXIQE TVSHYXMZS TSMW S GVIWGMQIRXSHSW MRZIWXMQIRXSW IQ GMÎRGME XIGRSPSKME I MRJSVQEËÇS WMKRMJMGSY YQ GSQTSRIRXI HI VIHIJMRMËÇS HSW VIKMQIW HI EGYQYPEËÇSXE]PSVMWQSJSVHMWQSIT×WJSVHMWQS JPI\ÑZIP XS]SXMWQSHEW IGSRSQMEWHSWTEÑWIWGIRXVEMWGSRXVEEIWXEKREËÇSIEUYIHEHETVSHYXMZMHEHI )WWEW QSHMJMGEËÙIW MRXVSHY^MHEW WSF EW VÍHIEW ETEVIRXIW HE GMÎRGME EQTPMJMGEVEQ E MQTSVXÆRGME HSW JEXSVIW KISTSPÑXMGSW I IWXVEXÍKMGSW RE JSVQEËÇSIGSRØQMGEHSWIWXEHSWREGMSREMW 2SMRÑGMS HSWÍGYPS<< EETVSTVMEËÇSHIWMKYEP HSWGSRLIGMQIRXSW GMIRXÑJMGSWHETVSHYËÇSIGSRØQMGEIRXVISWTEÑWIWIWYEGSRGIRXVEËÇSXMRLEQ WI XSVREHS KISKVEJMGEQIRXI IZMHIRGMEHSW EXVEZÍW HI HMJIVIRXIW VIKMÙIW HS QYRHSTSHMEWIHIXIGXEVEI\MWXÎRGMEHIYQUYEWIRÞGPISGIRXVEPXIVVMXSVMEPM ^EHSHETVSHYËÇSGMIRXÑJMGEHSGETMXEPMWQSEPÍQHSWIPIQIRXSWIGSRØQMGSW GLEZIWHIWYETVSWTIVMHEHIMRHYWXVMEPEWWIRXEHSWIQWMWXIQEWSYQSHIPSWHI SVKERM^EËÇSII\TPSVEËÇSHSXVEFEPLSXE]PSVMWQSISTVÍJSVHMWQS 4SHMEWIZIVMJMGEVXEQFÍQETEVXMVHSWMWSPEQIRXSWHSWVEQSWIGSRØ QMGSW HE WSGMIHEHISGSRXVSPI I E GIRXVEPM^EËÇS I\IVGMHSWTIPSW KVERHIW KVYTSWJMRERGIMVSWIMRHYWXVMEMWHSWQIMSWGMIRXÑJMGSWIXÍGRMGSWRIGIWWÅVMSW ÄVITVSHYËÇSHSVIKMQIHIEGYQYPEËÇS %ETEVIRXIXIVVMXSVMEPMHEHIGSRGIRXVEXMZEHSTVSKVIWWSGMIRXÑJMGSXÍGRMGS TVSZIRMIRXI HS JSVXEPIGMQIRXS HEW IWXVEXÍKMEW HS GETMXEPMWQS XIRHIY E QERMJIWXEVWI TVMRGMTEPQIRXI HYVERXI S T×WKYIVVE RSW ERSW I EPXIVERHS EJSVQEI EGSQTSWMËÇS UYERXMXEXMZEQIRXI IUYEPMXEXMZEQIRXI HS GETMXEP % HMWTSRMFMPMHEHI HI VIGYVWSW I MRZIWXMQIRXSW JMRERGIMVSW RSW GIRXVSWHITIWUYMWEWIPEFSVEX×VMSWGMIRXÑJMGSWEPXIVEVEQ XEQFÍQ EJSVQEHS TVSGIWWSHITVSHYËÇS % SVMIRXEËÇS TVSHY^MHE TIPE WSGMIHEHI GETMXEPMWXE ÄW GSRUYMWXEW HEW MRSZEËÙIWSVMYRHEWHEVIZSPYËÇS GMIRXÑJMGSXIGRMGE EGIRXYSYIQRSQIHI &)62%0 . ( RS WIY PMZVS 'MÎRGME RE ,MWX×VME & ) 6 2 % 0 . ( T VITSVXERHSWI HMVIXEQIRXI ES HIWIRZSPZMQIRXS EPGERËEHS TIPSW )WXEHSW 9RMHSW RS GEQTS HE 4IWUYMWE I HS(IWIRZSPZMQIRXS 6-',8% 6 EXVMFYM E &)62%0E MRMGMEXMZE HS IQTVIKS TIPE TVMQIMVE ZI^ REW GMÎRGMEW LYQEREW HE I\TVIWWÇS 6IZSPYËÇS 'MIRXÑJMGS8ÍGRMGE GSRWEKVEHE TIPS WIY EQTPS YWS RS QYRH S G MIR XM JMGS TVMRGMTEPQIRXI TSV QEV\MWXEW VIWTSRW ÅZIMW TIPSW WIYW QEXM^IW MHISP×KMGSW 4EVE 6-',8% E IWWÎRGME HE VIZSPYËÇS GMIRXÑJMGE I XIGRSP×KMGE TSHI WIV I\TPMGEHE TIPE VYTXYVE TVSZSGEHE TIPS EZERËS HS IQTVIKS HE GMÎRGME I HE XIGRSPSKME RE IGSRSQMEI TIPEW EPXIVEËÙIW SGEWMSREHEW RE IWXVYXYVE IRE HMRÆQMGE HEW JSVËEWTVSHYXMZEW )RXVIXERXS JSM 7 %2 837 8 RS WIY IWJSVËS HI HIWZIRHEV E REXYVI^E HS GSRGIMXS HE VIZSPYËÇS GMIRXÑJMGSXÍGRMGE I SW MQTEGXSW TSV IWXE TVSHY^MHE UYIQ XIRXSY I\TPMGEV IWWI YQ TVIXIRWS TVSKVIWWS GMIRXÑJMGS S TVSGIWWS HI ETVSTVMEËÇS TVMZEHE HS GEVÅXIVWSGMEPHETVSHYËÇSGMIRXÑJMGEGSRZIVXIRHSEQEMWIQEQIEËEHSUYI IQFIRIJÑGMSTEVEEJSVQEQEXIVMEPHETVSHYËÇSWSGMEP 3 YWS HI XÍGRMGEW GMIRXÑJMGEW RS TVSGIWWS HI TVSHYËÇS GETMXEPMWXE QYMXEWZI^IWJSMGSRHMGMSREHSTIPSWMRZIWXMQIRXSWIQTIWUYMWETIPEFYWGE GSRWXERXIHISFXIRËÇSHI PYGVSWGSQTIXMXMZMHEHITVSHYXMZMHEHIITSHIVMS FÍPMGS %W KVERHIW MRSZEËÙIW XÍGRMGEW I QIXEQSVJSWIW XIGRSP×KMGEW TEXVSGMREVEQ XEQFÍQEJSVQEËÇSHIKVERHIWQSRST×PMSWREIGSRSQMEIQ HIXVMQIRXSHEWTIUYIREWMRHÞWXVMEW %TIWUYMWEGMIRXÑJMGEIXIGRSP×KMGEETVIWIRXEVEQIQVIPEËÇSESWTEÑWIW HIIGSRSQMEGETMXEPMWXEHYEWGEVEGXIVÑWXMGEWMQTSVXERXIWIVEQGEHEZI^QEMW GSRGIRXVEHEWIQMPMXEVM^EHEWIWXEWGEVEGXIVÑWXMGEWVIWYPXEVEQHEI\TERWÇSHS TVSGIWWSHIQSRSTSPM^EËÇSHSWIXSVMRHYWXVMEPMRMGMEHSETEVXMVHSJMREPHE WIKYRHEQIXEHIHSWÍGYPS<-<4SMWEQEMSVMEHSWMRZIWXMQIRXSWHIWXMREHSW ÄTIWUYMWE IES HIWIRZSPZMQIRXS XMRLETEWWEHS E XIV EW WIKYMRXIW SVMIRXE ËÙIWEETIWUYMWEHIZMEWIVHMVIGMSREHETEVEJSVXEPIGIVSEVWIREPXIGRSP×KMGS QMPMXEVZMEI\XSVWÇSSYETVSTVMEËÇSHSGETMXEPZEVMÅZIPHEWSGMIHEHI FE TIWUYMWE HIZME WIV ZSPXEHE TEVE EQTPMEV E PYGVEXMZMHEHI I ETVSHYXMZMHEHI QÍHMEHEWIQTVIWEW GSRGIMXS HI QSHS VIWYQMHS GS QS YQE IXETE MRMGMEP HS EYQIRXS HE TEVXMGMTEËÇS HE GMÎRGME REW XVERWJSVQEËÙIW HS WMWXIQE TVSHYXMZS HS TIVÑSHS GSRXIQTSVÆRIS 6-',8% 6 XVEHY^MHS TEVE S TSVXYKYÎW GSQ S XÑXYPS )GSRSQME 7SGMEPMWXE I 6IZSPYËÇS 8IGRSP×KMGE I 7% 2837 8 RS WIY PMZVS 6IZSPYËÇS 'MIRXÑJMGS8ÍGRMGE I 'ETMXEPMWQS 'SRXIQTSVÆRIS 3 GSRGIMXS HI VIZSPYËÇS GMIRXÑJMGSXÍGRMGE HIWIRZSPZMHE RSW TEÑWIW WSGMEPMWXEW TVSGYVE I\TVIWWEV IWXI QSQIRXS VEHMGEP GYNS MRÑGMS NÅ WI QEXIVMEPM^SY IQ RSWWS XIQTS 1EW IWWI MRÑGMS RÇS HIM\SY HI WIV YQE IXETE MRGMTMIRXI HI YQ TIVÑSHS LMWX×VMGS RS UYEP E GMÎRGME TEWWE E WIV E JSRXI TVMRGMTEP HEW XVERWJSVQEËÙIW HS WMWXIQE TVSHYXMZS HIWHI E TVSHYËÇS QEXIVMEP EXÍ E GSRGITËÇS I KIWXÇS EW UYEMW EJIXEQ TSVÍQ EW SYXVEW HMQIRWÙIW HE EXMZMHEHI IGSRØQMGE I GYPXYVEP ( % 2 - ) 0 & %HZIRXS HE 7SGMIHEHI 4×W-RHYWXVMEP EHZIVXI TEVE S XIVVÑZIP HSQÑRMS UYI E GMÎRGME TEWWE E I\IVGIV WSFVI E WSGMIHEHI &)62%0 . ( ST GMX %W WYGIWWMZEW XVERWJSVQEËÙIW HE XÍGRMGE SGSVVMHEW HIWHI S MRÑGMS HE GMZMPM^EËÇS EXÍ S TVIWIRXI XÎQ IQ XSHEW GMVGYRWXÆRGMEW WMHS QSXMZEHEW TIPS MRXIVIWWI HI MRHMZÑHYSW SY HI KVYTSW HE GPEWWI HSQMRERXI HE ÍTSGE 5YEMWUYIV FIRIJÑGMSW VIGIFMHSW TIPEW SYXVEW GPEWWIW XÎQ WMHS EGMHIRXEMW ) UYERXS ES RSWWS XIQTS E IWXE MHEHI GMIRXÑJMGE GSQS Í XIVVMZIPQIRXI TIUYIRE E TEVPI HSW RSZSW GSRLIGMQIRXSW HE GETEGMHEHI I HS IRKIRLS UYI WÇS YXMPM^EHSW TEVE QIPLSVEVIQ EW GSRHMËÙIW HI ZMHE HE LYQERMHEHI I GSQS Í KVERHI E TEVXI HIWXMREHE Ä TYVE HIWXVYMËÇS 9Q MRXIVIWWERXI I HIXEPLEHS IWXYHS WSFVI IWXI GSRXIÞHS TSHI WIV IRGSRXVEHS IQ 0 9< )1& 9 6+ 3 6 % %GYQYPEËÇS HS 'ETMXEP 'ET <<<-- 3 1MPMXEVMWQS GSQ S (SQÑRMS HE %GYQYPEËÇS HS 'ETMXEP %TVMQIMVESVMIRXEËÇSTIVWMWXITSVPSRKSXIQTSIJSMSJYRHEQIRXSTE VEEJSVQEËÇSIWXVEXÍKMGEHEWMRHÞWXVMEWHIEPXEXIGRSPSKMEIHEWRSZEWGMHEHIW T×WMRHYWXVMEMW SY MRJSVQEGMSREMW XEQFÍQ GLEQEHEW RE EXYEPMHEHI HI XIGRST×PSW % SVMIRXEËÇS FÅWMGE HIWWIW MRZIWXMQIRXSW ZMWEZEQ SW GYWXSW HI TVSHYËÇSHI QEMWZEPME EXVEZÍW HSHIWIRZSPZMQIRXSHSWIXSVXIGRSP×KMGS QMPMXEVEIPIZEËÇSHETVSHYXMZMHEHIHSTVSGIWWSHITVSHYËÇS EGVMEËÇSHI RSZSWVEQSWHITVSHYËÇSMRHYWXVMEPGETE^IWHIEQTPMEVEGSQTIXMXMZMHEHIIE ZEVMIHEHIHSWTVSHYXSW3UYIERXIWIVEYQTVSGIWWSEYXSQÅXMGSIMRGSRW GMIRXI XSVRSYWI YQETSPÑXMGE HIPMFIVEHE %XIRHÎRGMEFÅWMGEHEKVERHI QEMSVMEHSWZSPYQIWJMRERGIMVSWIQMRZIWXMQIRXSWIQTIWUYMWEIXIGRSPSKME GSRGIRXVSYWI RIWWI WIRXMHS RE HMVIËÇS HE TVSQSËÇS HE YXMPM^EËÇS HE XIGRSPSKMEIHEGMÎRGMETEVETVSHYËÇSQMPMXEV 2E QIHMHEIQ UYIEGMÎRGMETEWWSY E WIVYXMPM^EHEGSQSYQEI\TVS TVMEËÇSWSGMEPHIVIGYVWSWXIGRSP×KMGSWEWWMWXMYWIÄJSVQEËÇSHIYQEKVERHI JSVËEWSGMEPTVSHYXMZEUYITEVEPIPEQIRXIWYGYQFMYESWIRGERXSWHSTVSGIWWS HIVIKYPEËÇSQMPMXEVIWXEXEP 3TVSGIWWSHIGVIWGMQIRXSHSWMRZIWXMQIRXSWREW MRHÞWXVMEWQMPMXEVIW ES GSRXVÅVMS HI GYWXEV EPKYQ ØRYW TEVE SW KVERHIW KVYTSW QSRSTSPMWXEW ZIQ WI GSRWXMXYMRHS RE EXYEPMHEHI IQ YQ WIXSV UYI XIQ TVSTSVGMSREHS IPIZEHSWVIXSVRSWPYGVEXMZSWITVSQMWWSVIWTEVEIWXIWTEVESWRSZSWWIXSVIW MRHYWXVMEMWHEGLEQEHE%PXE8IGRSPSKME )74%«3'-®2'-%) 1-0-8%6-713 %TVSPMJIVEËÇSGSRWYQMWXEHERSZEJMGËÇSWSFVISJYXYVSIWIYWGLSUYIW Í YQ VIWYPXEHS HS 1IVGLERHMWMRK HI QEWWE UYI XIQ GSRXVMFYÑHS TEVE XVERWJSVQÅPE IQ FIWXWIPPIVW RÇS EFSVHERHS EW UYIWXÙIW IWWIRGMEMW WYW GMXEHEW TIPEW RSZEW XIRHÎRGMEW HEW QIXEQSVJSWIW XIGRSP×KMGEW RS GETMXEPMWQS % IWXVEXÍKMEHS QEVOIXMRK TEVIGI WIVSJIVIGIV YQ TVSHYXS WYTIVJMGMEP UYIHMWGYXEXISVMEWIUYIWXÙIWWSFVIEWQIKEXIRHÎRGMEWHIRSWWSXIQTSISW EZERËSWTVSHY^MHSWTIPEGMÎRGMEREZMHEHSWLSQIRW 7IKYRHS 09<)1&96+3 6 IWXE ETVSTVMEËÇS HI GETMXEP ZEVMÅZIP MQTPMGEVME RE VIHYËÇS HMVIXE HSW WEPÅVMSW RS EYQIRXS HE QEMWZEPME VIPEXMZE )WXE QIWQE ERÅPMWI TSHI WIV IQ TEVXI ETPMGEHE XEQFÍQ GSQ I\GIËÇSHSÞPXMQS EWTIGXSTEVE I\TPMGEVE EXYEP GVMWI HS WSGMEPMWQS I E IQIVKÎRGME HS QSZMQIRXS REGMSREPMWXE HSW ERXMKSW TEÑWIW HI VIKMQI 6 3 7 > % / 8T )RXVIXERXS TSVXVÅW HE RSZEJMGËÇSHSW QÑHMEW IRGSRXVEWIS VIZIVWS HI YQE JMGËÇS TSYGS IZMHIRGMEHE E REXYVI^E I SVMKIQ WSGMEP HS EXYEP HIWIRZSPZMQIRXS HE GMÎRGME IRUYERXS GETMXEP XÍGRMGS I HSW JEXSVIW UYI MRJPYIRGMEVEQHIGMWMZEQIRXIÄWYEI\TERWÇSRSQYRHSEXYEP 5YERHSWIXVEXEHIIZMHIRGMEVIWXIWEWTIGXSWZIVMJMGEWIYQESQMWWÇS UYEWIKIRIVEPM^EHEHSWTVSTEKERHM^EHSVIWHERSZEIVEIQIVKIRXI2ETVIJM KYVEËÇSHSJYXYVSIWUYMZEQWIHIHMWGYXMVESVMKIQIEI\XIRWÇSWSGMEPVIEP HSWEZERËSWXIGRSP×KMGSW VIWXVMRKMRHSWIETVSHY^MVYQJEPWSIRXYWMEWQS UYI RÇS IZMHIRGME S GSRXIÞHS VIEP HSW RSZSW ERXEKSRMWQSW WSGMEMW IQIVKIRXIW 7IQ WIEXIVIQ ESW MQTEGXSWIÄWGSRXVEHMËÙIW HE RSZEIVE SW RSZSW ETSPSKIXEWHSJYXYVSTVÍJMKYVEHSTVIJIVIQTVSHY^MVYQEMQEKIQVIUYMRXEHE HEGMÎRGMEVIZIWXMHEHIGYRLSWMHISP×KMGSWVITPIXSWHIGSRXIÞHSHIYXMPMHEHI PÞHMGE I IWXÍXMGS JERXEWMSWS ÄW ZI^IW XEQFÍQ RISMHSPÅXVMGS I GSQ YQ XSUYIUYEWIMHÑPMGS 3 WMKRMJMGEHS HI STYPÎRGME WSGMEP VITEWWEHS GSQS JVYXS HEW XVERWJSVQEËÙIWSVMYRHEWUYEPMXEXMZEQIRXIHIYQRSZSTIVÑSHSZMZIRGMEHS TIPE WSGMIHEHI GETMXEPMWXE GSRXIQTSVÆRIE TSHI WIV UYEWI MRXIMVEQIRXI HIWJIMXS UYERHS WI EREPMWE S TVSGIWWS HI JSVQEËÇS I HIWIRZSPZMQIRXS HE GMÎRGMEIHSQMPMXEVMWQS3IHMJÑGMSHEWMPYWÙIWGEMRETSIMVEPIZERXEHETIPS GEVVSHEWIZMHÎRGMEWIQTÑVMGEWRSWIWXYHSWEXYEMW 1EW SHMWGYVWSJYXYVMWXEÍTIVQERIRXIQIRXI QMQIXM^EHSITVSHY^MHS GSQSYQERSZEIQFEPEKIQHIYQTVSHYXSXIGRSP×KMGSUYIVIZSPYGMSREVÅE GEFIËE HI UYIQ S GSRWSQI %PMÅW IWWE Í YQE TIUYIRE TVSZE HI MPYWÇS JEFVMGEHE TIPEW QÑHMEW UYI XVERWJMKYVEQ S JYXYVS HI HMJIVIRXIW JSVQEW MRGYPGERHSSYEMHÍMEI\GIWWMZEQIRXISXMQMWXEEHZMRHEHSWEPXSHIUYEPMHEHI HEWSGMIHEHIGETMXEPMWXESYIRXÇSHMJYRHIQJEPWEWMHÍMEWIGSRGITËÙIWSRHIS LSQIQIWIYIKSÑWQSEFWXVEXSIRÇSEWKVERHIWGSVTSVEËÙIWGSRGVIXEW ETEVIGIGSQSSZMPÇSHELMWX×VME 83**0)6 % MR 8LI 8LMVH ;EZI JI^ YQE VÅTMHE EPYWÇS Ä LIVERËE I ZÑRGYPSW IWXVIMXSW IRXVI E TVSHYËÇS QMPMXEV I E LMKL XIGL IWXI EWTIGXS XEPZI^ QIVIGIWWI WIV QIPL SV IZM HI RG MEHS S UYI TEVIGI RÇS XIV WMHS SFNIXS HI VIJPI\ÇS ETVSJYRHEHE TVMRGMTEPQIRXI UYERHS WI XVEXE LMWXSVMGEQIRXI HS HMVIGMSREQIRXS HI KVERHIW ZSPYQIW HI VIGYVWSW UYI JSVEQ VITEWWEHSW TIPS (ITEVXEQIRXS HI (IJIWE HSW )WXEHSW 9RMHSW QEMW TEVE MRZIWXMQIRXSW HI KYIVVE UYI WSGMEMW SY HI TVIWIVZEËÇS HE TE^ 7 I K Y R H S ,%0 0 4 I 1 %6 /97 )2 % IQ ,MKL 8IGL %QIVMGE S HITEVXEQIRXS HI HIJIWE HSW )9% GLIKSY E VIWTSRHIV IQ TSV HS IQTVIKS REW IQTVIWEW HI EPXE XIGRSPSKME HI 6ÅHMS I IQ XVERWQMWWÙIW HI WMREMW HI 8: I HI IUYMTEQIRXSW HI HIXIGËÇS 7IKYRHS EMRHE 1%6/97)2 % I &03', 6 IQ (IJIRWMZI 'MXMIW 1MPMXEV] 7TI RHM RK ,MKL 8 IG LRSP S K] ERH ,YQER 7IXXPIQIRXW RS PMZVS SVKERM^EHS TSV '%78)007 1 ,MKL 8IGLRSPSK] 7TEGI ERH 7SGMIX] HIRXVS HS WIKQIRXS HI EPXE XIGRSPSKME EW MRHÞWXVMEW XSXEPM^EQ QEMW HI WIXSVIW UYI GLIKEVEQ E VITVIWIRXEVIQ ETVS\MQEHEQIRXI QMPLÙIW HI IQTVIKEHSW ZIV 8EFIPE T %WSGMIHEHIHIEQERLÇSYHSJYXYVSÍETVIWIRXEHEGSQSEWSGMIHEHIHSW WIVZMËSW SY HS GSRWYQS HI PE^IV 9Q QYRHS SRHI E GETEGMHEHI HI MQEKMREËÇSTSHIWIVVIHIRXSVEIMRIWKSXEZIPQIRXIXVERWJSVQEHSVE % MRJSVQEËÇS Í IZMHIRGMEHEGSQS ERSZE QEXÍVMETVMQE HS XVEFEPLS MRXIPIGXYEPUYIÍSWIYTVSHYXSVIGSRWYQMHSV4EVEIWWEGSRGITËÇSSRÇS XVEFEPLS TEWWE E WIVVIZIPEHS GSQS S ZIVHEHIMVS TVSHYXSV HI ZEPSV I HI VMUYI^EWEXÍIRXÇSRYRGEERXIWWSRLEHEW 7IQ EEPYWÇS ES TVSGIWWS HIEGYQYPEËÇS QMPMXEV TEVIGI UYI XSHEE TVSHYËÇS GMIRXÑJMGE I XIGRSP×KMGE RSW TEÑWIW HIWIRZSPZMHSW HS SGMHIRXI ZSPXSYWIWIQTVIETIREWTEVEEXIRHIVÄWRIGIWWMHEHIWHETVSHYËÇSMRHYWXVMEP GSRZIRGMSREPHIGSRWYQSHMVMKMHS2SIRXERXSESGSRXVÅVMSHMWWSELMWX×VME HEGMÎRGMEIHSWEVXIJEXSW XIGRSP×KMGSWTVSHY^MHSWTIPSWTEÑWIWGETMXEPMWXEW QEMW VMGSW VIZIPE UYI IWXIW IWXMZIVEQ ZSPXEHSW SY JSVEQ GETXYVEHSW TEVE TEXVSGMREVSWIYTSHIVQMPMXEVIETE^EVQEHE % KVERHI QEMSVME HSW MRZIWXMQIRXSW KSZIVREQIRXEMW HSW TEÑWIW GETMXEPMWXEWHIWIRZSPZMHSWQEMWI\EXEQIRXIHSW)WXEHSW9RMHSWEQTPMSYWI RSWIRXMHSHITVSZIVIMRGSVTSVEVEGMÎRGMERSTVSGIWWSHIQMPMXEVM^EËÇS-WWS SGSVVIYTSVUYISWMRZIWXMQIRXSWIQTIWUYMWEIXIGRSPSKMERSWIXSVQMPMXEV EPÍQ HI VIZIPEVIQWI QEMW EXVEIRXIW EPXEQIRXI VIRHSWSW I TV×WTIVSW TEWWEVEQEVITVIWIRXEVHYVERXIYQPSRKSTIVÑSHSEFEWIHIWSFVIZMZÎRGMEI WYWXIRXEËÇSHIMRÞQIVEWIQTVIWEWHIEPXEXIGRSPSKMEIHIKVERHIWMRWXMXYMËÙIW HITIWUYMWETVMZEHEITÞFPMGERSW)WXEHSW9RMHSWIXEQFÍQSGSQTSRIRXI IWXVEXÍKMGSHERSZEVIWXVYXYVEËÇSVIKMSREPIXIVVMXSVMEPHEWVIPEËÙIWHIXVEFEPLS IHITVSHYËÇS %KVERHIQEMSVMEHSWMRZIWXMQIRXSWHITIWUYMWEIXIGRSPSKMEHSWERSW IXIZIWYESVMIRXEËÇSFÅWMGEHIWXMREHEQEMWTEVEETVSHYËÇSQMPMXEVHS UYI TEVE E TVSHYËÇS GSQIVGMEP )WXI JEXS GSPSGSY SW )9% IQ VIPEXMZE HIWZERXEKIQ GSQIVGMEP IQ EPKYRW WIXSVIW IGSRØQMGSW TVSZSGEHS TIPE I\GIWWMZE ZMRGYPEËÇS HIWWIW WIXSVIW GSQ ETVSHYËÇS HI EVQEQIRXSW % 83**0)6%T 0-4-)8> % I 0)&36+) ( TEVIGIQ TVSTIRWSW E GSQTEVXMPLEVIQ HIWWEW MHÍMEW TEVE XIRXEVIQ I\TPMGEV S TVSGIWWS HI VIIWXVYXYVEËÇS XIVVMXSVMEP UYI JI^ WYVKMV S 7YR FIPX I 7MPMGSR :EPPI] SY SW RSZSW T×PSWXÍGRMGSW I EW RSZEW VIPEËÙIW HI XVEFEPLS UYI PÅ IWXÇS GVIWGIRHS MR 3 4×W*SVHMWQS I WIY )WTEËS %00)2 . 7'388 I 1-',%) 0 78364)6 MR -RHÞWXVME HI %PXE 8IGRSPSKME I (IWIRZSPZMQIRXS 6IKMSREP 9QE 'VMXMGE I 6IGSRWXVYËÇS 8I×VMGE TVSGYVEQ I\TPMGEV IWXI MRXVMGEHS UYIFVEGEFIËE I EPÍQ HEW NYWXMJMGEXMZEW ETSRXEHEW EGMQE TVSGYVEQ IRGSRXVEV SYXVEW ZEVMÅZIMW UYI TSWWEQ WIVZMV HI FEWI Ä 2SZE +ISKVEJME )GSRØQMGE 'SRXIQTSVÆRIE 'SRWMHIVEËÙIW E IWXI VIWTIMXS TSHIQ WIV IRGSRXVEHEW IQ 4-6)7 , * %PXE 8IGRSPSKME (MZMWÇS HS 8VEFEPLS I 6IIWXVYXYVEËÇS 8IVVMXSVMEP I XEQFÍQ IQ WIY SYXVS XVEFEPLS WSFVI 3 %HZIRXS HE 'MHEHI -RJSVQEGMSREP JSVQEËÇSHSTIVÑSHSXÍGRMGSGMIRXÑJMGSJSVXEPIGIYXEQFÍQIQTVMRGÑTMSE TVSHYËÇSQEMWHIGEVÅXIVHIWXVYXMZSHSUYIWSGMEP %XVERWJSVQEËÇSHSYWSHEGMÎRGMEGSQSJSVËETVSHYXMZEÍYQVIWYPXEHS HS VIHMVIGMSREQIRXS LMWX×VMGS I P×KMGS HS GETMXEP TVSZIRMIRXIHS EJEWXE QIRXS TEYPEXMRS HS XVEFEPLS HE HMWTYXE QSRSTSPMWXE MRXIVGETMXEPMWXE TSV RSZSWQIVGEHSWIIWTEËSWTVSZSGEHEWTIPEGVMWIGÑGPMGE UYIWIWYFQIXIYE TVSHYËÇSIQQEWWERSQSHIPSHIIWTIGMEPM^EËÇSLSVM^SRXEPXE]PSVMWXE %VIKYPEËÇSHEWGVMWIW GETMXEPMWXEWTEVIGI XIVREWGMHSGSQ EWTVSQMW WSVEWTSWWMFMPMHEHIWEHWXVMXEWESTSHIVHIGVMEËÇSHEWMRSZEËÙIWXIGRSP×KMGEW IHIHIWXVYMËÇS HIJSVËEW GETMXEPMWXEWGSRGSVVIRXIWEHZMRHEHSTVSGIWWSHI TVSHYËÇSMRHYWXVMEPQMPMXEVEXYSYRSWIRXMHSHIMQTPERXEVYQERSZESVHIQ TPERIXÅVME HI HMWTYXE XIVVMXSVMEP HIWMKYEP TSV QIVGEHSW I XVEFEPLS GSRLIGMQIRXSEGYQYPEHSGMÎRGMEIMRJSVQEËÙIW 3WMKRMJMGEHSGSRGVIXSHSYWSIWXVEXÍKMGSHIWXIWHSMWÞPXMQSWGSQTS RIRXIWGMÎRGMEIMRJSVQEËÇSGSRXVMFYMYTEVEEQYHERËEHISVMIRXEËÇSRIWXI % TEVXMGMTEËÇS HS )WXEHS I WYE TIVQERIRXI HIQERHE TEVE E QERYXIRËÇS I MRGIRXMZSW Ä TIWUYMWE JSM I GSRXMRYEQ WI RHS RSW )WXEHSW 9RMHSW TEVE TVSZIV MRWXMXYMËÙIW HI TIWUYMWEW YRMZIVWMHEHIW PEFSVEX×VMSW EQTPMEV S QIVGEHS HEW IQTVIWEW HI LMKL XIGLRPSK] I WYWXIRXEV IQTVIWEW HI EVXIJEGXSW QMPMXEVIW 7'388 % . I 78364)6 1 T 1 %6< / +VYRHVMWWI T ERXIZMVE UYI S GVIWGMQIRXS HE GSQTSWMËÇS SVKÆRMGE HS GETMXEP GSRHY^MVME Ä HMWWSPYËÇS HI WYEW FEWIW HMWWSPYËÇS I RÇS HIWXVYMËÇS GSQ S QYMXSW MRXIVTVIXEVEQ 1EW E MHÍME HI 1%6< XIZI WIY GSRXIÞHS QEP GSQTVIIRHMHS MWWS IQ TEVXI SGSVVIY HIZMHS Ä JSVXI MRJPYÎRGME HE QIRXEPMHEHI HSW KVYTSW GSQYRMWXEW UYI IQIVKMVEQ HS QSZMQIRXS HSW XVEFEPLEHSVIW ZIV 0-4-)8> % 8LVII 'VMWIW 1IXEQSVTLSWIW SJ 'ETMXEPMWQ ERH 0EFSYV 1SZIQIRX MR +388(-)2)6 1 'ETMXEPMWX (IZIPSTQIRX ERH 'VMWIW 8LISV] %GGYQYPEXMSR 6IKYPEXMSR ERH 7TEXMEP 6IWXVYGXYVMRK )WXE MRJPYÎRGME TVSQSZIY IRXVI SW QEV\MWQSW E MPYWÇS HS GSPETWS GETMXEPMWXE UYI WIVME TVSTSVGMSREHS TIPE WYTIVTVSHYËÇS )Q GSRXVETEVXMHE 1 )7>¥63 7 - RS WIY PMZVS 4VSHYËÇS (IWXVYXMZE I )WXEHS 'ETMXEPMWXE ETEVIRXIQIRXI VIJSVËE IWWE MHÍME EGVIWGIRXERHS UYI E EPXIVREXMZE GSRXIQTSVÆRIE TEVE UYI S GETMXEPMWQS VSQTIWWI SW QEVGSW HE GVMWI HI WYTIVTVSHYËÇS GSRZIRGMSREP WIVME S VISVHIREQIRXS HS TVSGIWWS TVSHYXMZS GSQ ZMWXEW Ä MQTPERXEËÇS HI YQE JSRXI HI EFWSVËÇS HI WIYW MRZIWXMQIRXSW EXVEZÍW HS GSQTPI\S QMPMXEVMRHYWXVMEP % JSVËE HMWTSWXE I GETE^ HI VSQTIV S R× K×VHMS HI GSQS GSQFMREV QÅ\MQE I\TERWÇS TSWWÑZIP GSQ XE\E HI YWS HIGVIWGIRXI QÑRMQE ETVIWIRXSYWI ES GETMXEP RE JMKYVE HS GSQTPI\S QMPMXEVMRHYWXVMEP ET×W YQE WÍVMI HI XIRXEXMZEW JEPMHEW IQ PMHEV GSQ SW TVSFPIQEW HE WYTIVTVSHYËÇS HI QSHS QIRSW HMWWMTEHSV HITSMW HE GVMWI IGSRØQMGE QYRHMEP HI %MRHE UYI SW TVMQIMVSW TEWWSW GSQ ZMWXEW E IRGSRXVEV YQE WSPYËÇS TEVE E WYTIVTVSHYËÇS EXVEZÍW HE TVSHYËÇS QMPMXEV XMZIWWIQ WMHS HEHSW NÅ ERXIW HE TVMQIMVE KYIVVE QYRHMEP GSQS ZMQSW REW SFWIVZEËÙIW TVSJÍXMGEW HI 637% () 09<)1&96+3 E WYE EHSËÇS KIVEP SGSVVIY WSQIRXI ET×W E 7IKYRHE +YIVVE 1YRHMEP GSRXVMFYMËÇS LMWX×VMGE I GVÑXMGE WSFVI E TEWWEKIQ HS VIKMQI HI EGYQYPEËÇS XE]PSVMWXE TEVE S JSVHMWXE ÞPXMQS UYEVXIP HS WÍGYPS << TEVE E IQIVKÎRGME HS TVSGIWWS HI VIIWXVYXYVEËÇSXIVVMXSVMEPHETVSHYËÇSMRHYWXVMEP (I EEHMWTYXETSVJSRXIWI\XIVREWHIQMRIVEMWIWXVEXÍKMGSW QEXÍVMEWTVMQEWI\XVEÑHEWTVIXIRHIYEWWIKYVEVEWWIKYMRXIWIWXVEXÍKMEW EUYISXVEFEPLSWSGMEPGMÎRGMEIWXMZIWWIZSPXEHSTEVEETVSHYËÇSHI GSRWYQSHIQEWWEIFÍPMGE F UYI LSYZIWWI E KEVERXME HE VITVSHYËÇS HEW KVERHIW MRHÞWXVMEW QSRSTSPMWXEWETEVXMVHEQERYXIRËÇSHIWYTVMQIRXSWIQQEXÍVMEWTVMQEWRS EPÍQQEV (MERXI Ä IQIVKÎRGME P×KMGE HS TVSGIWWS HI QMPMXEVM^EËÇS HS WEFIV GMIRXÑJMGSE+ISKVEJMETSPÑXMGEUYIIQIVKMYRSJMREPHSWÍGYPS<-<VIZIPSY WYEHMWTSWMËÇSWSPMHÅVMEHIETSMSESETIPSFIPMKIVERXI %IWGSPEEPIQÇHI+ISKVEJMEHSJMREPHSWÍGYPS<-< VIZIPSYWITVI GYVWSVE HE MHÍME HI UYI S TVSKVIWWS HS )WXEHS I HI YQ TSZS IVE YQE VIWYPXERXIHEEQTPMEËÇSHSTVSKVIWWSHSHSQÑRMSTSPÑXMGS8ERXSQEMWJSVXI IVE YQ TSZS UYERXS QEMSV JSWWI S XIVVMX×VMS UYI IWWI TYHIWWI TSWWYMV IRUYERXS JSRXI HI WYE ZMHE TEVE WEXMWJE^IV EW I\MKÎRGMEW HS TVSGIWWS MRHYWXVMEPGSQFEWIREWRIGIWWMHEHIWIQIVKIRXIWHSTVSKVIWWSGMIRXÑJMGS ETVSTVMERHSWIHEWQEXÍVMEWTVMQEWQIXEMWIWXVEXÍKMGSWTIXV×PISQIVGEHS HIXVEFEPLSIGETMXEPGMVGYPERXIHMWTSRÑZIMWRSXIVVMX×VMSHISYXVEWREËÙIW )WWIWGSRXIÞHSWTEWWEVEQEVISVMIRXEVEW RIGIWWMHEHIWISWTVMRGÑTMSW HEMRXIVZIRËÇSIWXEXEPQMPMXEVIQIVKIRXIUYIEWWIRXEVEQWYEWTVIVVSKEXMZEW HITVSKVIWWSGMIRXÑJMGSIHIHIWIRZSPZMQIRXSREGMSREPREGVIWGIRXIRIGIWWM HEHIHIHSQMREVIEPGERËEVRSZSWXIVVMX×VMSW)WWEJSMEJSVQEMHISP×KMGEHI NYWXMJMGEV S HSQÑRMS I S MRXIRXS HI FIPMKIVÆRGME QMPMXEV I JSM XEQFÍQ E TVMRGMTEPTVIQMWWEGMIRXÑJMGEHSTIRWEQIRXSKISTSPÑXMGSHSQMRERXIHYVERXI E7IKYRHE+YIVVE1YRHMEPISTVMRGÑTMSFÅWMGSHIWYEIWXVEXÍKMEQMPMXEV %JSVËEHS)WXEHSGETMXEPMWXEIQIVKIRXIGYNEREXYVI^EIWXÅMRXMQEQIRXI VIPEGMSREHEGSQEVIKYPEËÇSHETVSHYËÇSIGSRØQMGEIEVIEPM^EËÇSEQTPMEHE HSGETMXEPWIVMEIQIWWÎRGMESZIXSVHSTVSGIWWSHIMRXIVZIRËÇSHSWXIVVMX× VMSW TEVEEVITVSHYËÇSHSTVSGIWWSTVSHYXMZSIQIVKIRXIFEWIEHSREWKVERHIW MRHÞWXVMEW SPMKSTSPMWXEW 3IWTEËSWSFEJSVQEHIXIVVMX×VMSWTEWWSYEWIVETVMRGMTEPWYFWXÆRGME HE VMUYI^E QEXIVMEP 3 TVSGIWWS HI MRXIVZIVWÇS HS IWTEËS IJIXMZEHS RS TVSGIWWSHIVIEPM^EËÇSHSGETMXEPIQKIVEPI\MKMYUYISEZERËSHEEXMZMHEHI XÍGRMGEWIXSVREWWIMVVIZIVWÑZIPIXVERWJSVQEHSVIVIUYIVIYGSQSI\TVIWWÇS 1 % + ( 3 * * , IQ WIY PMZVS % IVE HS -QTIVMEPMWQS TEVIGI WYKIVMV YQE ZIVWÇS RISPIRMRMWXE HI I\TPMGEËÇS HE IQIVKÎRGME HE JSVQE QSRSTSPMWXE HS GETMXEP 6 % 8 > ) 0 * IQ WIY EVXMKS 3 7SPS E 7SGMIHEHI IS )WXEHS 2 S WIRXMH S GSQTPIQIRXEV ES TVIWWYTSWXS HI MRXIVZIVWÇS HS XIQTS GSPSGEHE TSV * %9783 6 T TVSTÙIWI EUYM E MHÍME WSFVI E MRXIVZIVWÇS HS IWTEËS %GLEZITEVEEHIWGSFIVXEHEWTVSTVMIHEHIWIHSTSXIRGMEPHSWMPÑGMSJSM YQEVIWYPXERXITSWXIVMSVHIWIYIQTVIKSQMPMXEV 'SQ EI\TERWÇSHSW YWSW HSWMPÑGMSEWMRHÞWXVMEWHIXVERWMWXSVIWIQMGSRHYXSVIWHI2SZE.IVWI]RSW )WXEHSW 9RMHSW TVMRGMTEPQIRXI SW 0EFSVEX×VMSW &IPP TYHIVEQ IJIXYEV KVERHIWEZERËSWRSIQTVIKSHIWWIW GSQTSRIRXIW REWGSQYRMGEËÙIW1EW ETVMQIMVERIGIWWMHEHIHIGVMEËÇSHSWXVERWMWXSVIWIWIQMGSRHYXSVIWIWXEZE VIPEGMSREHEGSQERIGIWWMHEHIHIHIJIWEHSXIVVMX×VMSEXVEZÍWHSEY\ÑPMSHSW ERXMKSWVEHEVIWRIWXITIVÑSHSTEWWERHSTSVKVERHIWQIPLSVMEWXÍGRMGEW(S MRXIVGVY^EQIRXSSYHEGSRNYRËÇSHEWXIGRSPSKMEWHSVEHEVHEXIPIJSRMEIHSW GSQTYXEHSVIWWYVKIEWXIPIGSQYRMGEËÙIWIEQMGVSXIGRSPSKME 3GVIWGMQIRXSHILSNIHEQMGVSIPIXVØRMGEIHEWMRHÞWXVMEWHIXIGRSPSKME HIMRJSVQEËÇS8-IWXÅLMWXSVMGEQIRXIZMRGYPEHSRSSGMHIRXIGSQETVSHY ËÇSHIEVXIJEGXSWQMPMXEVIW)WXIEWTIGXSHEJSVQEËÇSHE8-ÍRIKPMKIRGMEHSI TVSTSWMXEPQIRXITSYGSIZMHIRGMEHSTIPSWET×WXSPSWHERSZEIVE 1YMXSWEYXSVIWIRJEXM^EVEQ QEMW SWYWSWGSRZIRGMSREMW HEWSGMIHEHI HEWRSZEWXIGRSPSKMEWHITSRXEHSUYISWQMPMXEVIW)RXVIXERXSERXIWHIWWEW WIVIQTVSHY^MHEWIEFWSVZMHEWTIPSQIVGEHSGETMXEPMWXEHITVSHYËÇSHIQIVGE HSVMEWIWWEWXIGRSPSKMEWUYILSNIEWWYQIQSTETIPHIQSXSVHEVIZSPYËÇS XÍGRMGSGMIRXÑJMGEJSVEQERXIWYXMPM^EHEWTEVEJMRWIQMRIRXIQIRXIQMPMXEVIW )WWEW QIXEQSVJSWIW WÇS MRXIVTVIXEHEWTIPSZMÍW HEMHÍMEHIUYI WÇSS VIWYPXEHS HEW XVERWJSVQEËÙIW UYEPMXEXMZEW HEWSGMIHEHI GETMXEPMWXE SUYI TEVIGIRÇSWIVXÇSJEGMPQIRXIHIHYXÑZIPEWWMQ 3GVIWGMQIRXSHETVSHYËÇSHIGSQTYXEHSVIWIHIVEHEVIWRSW)WXEHSW 9RMHSWI\TERHMYWIEMRHEQEMWUYERHSSWWSZMÍXMGSWHIXSREVEQWYETVMQIMVE FSQFEEXØQMGEIQ 3WVEHEVIWFEWIEHSWIQWMWXIQEWHIXIPIGSQYRM GEËÙIW WIVMEQ REUYIPEÍTSGE S ÞRMGS QIMSGETE^ HITVIZIRMVGSRXVEYQ TSWWÑZIP EXEUYI EÍVIS RIWWI WIRXMHS JSVEQ GVMEHEW KVERHIW QEPLEW HI GSQTYXEHSVIWUYIGSRXVSPEZEQSWWMREMWIRZMEHSWTIPSWVEHEVIW 1EWVIWXEGSQTVIIRHIVHIUYIJSVQEIWWEW XIGRSPSKMEWESVIIWXVYXY VEVIQ SWVIKMQIWHIEGYQYPEËÇSGETMXEPMWXE IWXÇSHIJMRMRHSEJSVQEËÇSHI YQE RSZE JSVQE YVFERE ES QSHMJMGEV E IWXVYXYVE IWTEGMEP HI VIKMÙIW EW VIPEËÙIWHIXVEFEPLSIXEQFÍQJE^IRHSIQIVKMVYQERSZEHMZMWÇSXIVVMXSVMEP IQYRHMEPHSXVEFEPLS %36-+)1(%%08%8)'2303+-%)(%1-'63)0)86¸2-'% 3 WYVKMQIRXS HS TVMQIMVS GSQTYXEHSV IPIXVØRMGS HE GLEQEHE +IVEËÇS 8IGRSP×KMGE JSM GSRGIFMHS IQ TSV . 4)'/)68 I . ; 1%9',0=UYISGSRWXVYÑVEQ RSHITEVXEQIRXSHIIRKIRLEVMEIPÍXVMGEHE 9RMZIVWMHEHIHE4IRWMPZÆRME%GSRGPYWÇSHIJMRMXMZEHIWYEGSRWXVYËÇSSGSV VIYIQ IIWXIGSQTYXEHSVJSMGLEQEHSHI)2-%')PIXVSRMG2YQIVMG -RXIKVEXSVERH'EPGYPEXSVTEVIGMEQEMWYQQSRWXVS TIWEZEXSRIPEHEW QIHME QIXVSW UYEHVEHSW TSWWYÑE ZÅPZYPEW IPIXVØRMGEW VIWMWXSVIW GETEGMXSVIWIMRXIVVYTXSVIWXVEFEPLEZEGSQWMWXIQE HI RYQIVEËÇS FMRÅVMS I\IGYXEZE GÅPGYPSW GSQ QEMW ZIPSGMHEHI UYI WIY ERXIGIWWSVS1EVO-)RUYERXSS1EVO-PIZEZEWIKYRHSWTEVEQYPXMTPMGEV HSMWJEXSVIWHIEPKEVMWQSWS)2-%'GSRWIKYMEIJIXYEVIWXIWGÅPGYPSWIQ WIKYRHSW 8SHEZME SSFNIXMZSTVMRGMTEPHIGSRWXVYËÇSHS)2-%' IVEEY\MPMEVE TVSHYËÇSHIEVQEW IWXI JEVMESW GÅPGYPSW RIGIWWÅVMSW TEVEEGSRJIGËÇSHE FSQFEEXØQMGEIJSVRIGIVMEGÅPGYPSWHEWXEFIPEWFEPÑWXMGEWHEQEVMRLEIHSW TVMQIMVSWQÑWWIMWRYGPIEVIW %TVSHYËÇSXIGRSP×KMGESVMIRXEHETEVEWYWXIRXEVEMRHÞWXVMEQMPMXEVWIV ZMYHYVERXIST×WKYIVVETEVEIWXEFIPIGIVRSW)WXEHSW9RMHSWYQETVS HYËÇS QEMW IWXÅZIP UYI GSQ MRZIWXMQIRXSW QEMW WIKYVSW GYWXIEHSW TIPS )WXEHSXSQSYWIRÇSWYGITXÑZIPEWSWGMPEËÙIWHITVIËSIQIVGEHSHSVIWXERXI HEWEXMZMHEHIWGMZMWGSQTIXMXMZEW )WXMQEHS IQ QEMW HI 97 S )2-%' TEVIGME ETVIWIRXEV TVSFPIQEW HI I\GIWWMZS GSRWYQS HI IRIVKMEI HI UYIMQE TIVQERIRXI HI ZÅPZYPEW 1EMW XEVHI GSQ E GSRXVMFYMËÇS HS QEXIQÅXMGS LÞRKEVS . : 2)91%22 WYVKI S )(-:%' STVMQIMVS GSQTYXEHSVE EVQE^IREV IQ JSVQEGSHMJMGEHE HEHSW IQ WYEQIQ×VME 3W TVST×WMXSW XIRHMEQ EWIVSW QIWQSWTVSHY^MVXIGRSPSKMETEVEEHIJIWEIGÅPGYPSWIWXEXÑWXMGSW (IWHI SW0EFSVEX×VMSW&IPPHI2I[.IVWI]RSW)WXEHSW9RMHSW TSWWYÑEQ JSVXI MRJPYÎRGME RS TVSGIWWS HI GSRWXVYËÇS HI GSQTYXEHSVIW TVMRGMTEPQIRXIWSFMRJPYÎRGMEHSQEXIQÅXMGSEQIVMGERS+)36+)78-&-> *SVEQ IWXIW0EFSVEX×VMSWUYIIQ GSQ WIYWGMIRXMWXEW GSRWIKYMVEQ VIWSPZIVSTVSFPIQEGEYWEHSTIPSGSRWYQSI\GIWWMZSHIIRIVKMEIUYIMQE HEW ZÅPZYPEW HSW )2-%'W MRZIRXERHS S 8VERWMWXSV 8VERWJIV 6IWMWXSV SY VIWMWXSVHIXVERWJIVÎRGME % 0 & ) 6 8 &6)77%2( '%8,)6-2) (-780)6 IQ WIY PMZVS 3 1YRHS HI %QERLÇ I SY IQ &6-83 4 RS WIY EVXMKS 3 'SQTYXEHSV 7IQ 1MWXÍVMS 7 I K Y R H S 86-40)6 4 % IQ % *ÑWMGE HSW 1EXIVMEMW S 8VERWÑWXSV GSRWMWXI RE JSVQEËÇSHI EKVIKEHSW HI QEXIVMEMW GETE^IW HI TVSHY^MVE WIQMGSRHYXMZMHEHI XVEXEWI HSW GVMWXEMW HI KIVQÆRMS WMPÑGMS I HS JPÞSV FSVEXS HI KÅPMS 3 8VERWMWXSV VIWYPXE HE HSTEKIQ SY IRGVYWXEQIRXS HS J×WJSVS WIQMGSRHYXSV HI IPÍXVSRW QEMW S FSVS WIQMGSRHYXSV HI FYVEGS RS WMPÑGMS WIQMGSRHYXSV MRXVÑRWIGS S SFNIXMZS IVE JSVQEV YQ WIQMGSRHYXSV I\XVÑRWIGS GSQ E HSTEKIQ HS J×WJSVS QEMW S FSVS RS WMPÑGMS GSQ S IWXI ÞPXMQS Í YQ GVMWXEP HI EPXE GSRHYXMZMHEHI I I\MKI IPIZEHE UYERXMHEHI HI XIQTIVEXYVE TEVE WI XSQEV YQ WIQMGSRHYXSV GSQ S IRGVYWXEQIRXS HI WERHYÑGLI HS J×WJSVS I HS FSVS IQ YQE TEWXMPLE HI WMPÑGMS JSM )Q JSVEQ SW 0EFSVEX×VMSW &IPP UYI GSRWXVYÑVEQ XEQFÍQ TIPE TVMQIMVEZI^STVMQIMVSGSQTYXEHSVXVERWMWXSVM^EHSGLEQEHSHI0)46) ',%92 %P×KMGEHIMQTPERXEËÇS HEW MRHÞWXVMEW HIEPXEXIGRSPSKMESFIHIGIYE YQGEVÅXIVIWXVEXÍKMGSHIPSGEPM^EËÇSUYIXMRLEGSQSJYRHEQIRXS EWIKY VERËEREGMSREPEWTSWWMFMPMHEHIWHIETVSZIMXEQIRXSHIVIPEËÙIWWSGMEMWMRXIV JVSRXIMVMËEWQIPLSVEGSRHMGMSREQIRXSHSJYXYVSTEVUYIMRHYWXVMEPPSRKIHSW KVERHIWGIRXVSW E HMWTSRMFMPMHEHI HI RSZSW QEXIVMEMW I ERIGIWWMHEHI HI VIEPM^EËÇSHSWXIWXIWTEVEEETVSZEËÇSHIHMWTSWMXMZSWFÍPMGSW )WXEP×KMGEHEVIIWXVYXYVEËÇS XIVVMXSVMEPHEWEXMZMHEHIWMRHYWXVMEMWTVS QSZIYIWXVEXIKMGEQIRXIHIWHIEHÍGEHEHIIQTEVXIEKÎRIWIHSWTVSGIW WSWHIHIWMRHYWXVMEPM^EËÇSIHEVIMRHYWXVMEPM^EËÇSWIPIXMZEIZIVXMGEPM^EHEUYI SVMKMRSYS7MPMGSR:EPPI] 3VERKI:EPPI]IEW RSZEWGMHEHIWMRJSVQEGMS REMWXEQFÍQHIRSQMREHEWWEYHSWEQIRXIHIT×WMRHYWXVMEMW 3EZERËSHSLEVH[EVITVSWWIKYMYGSQ SWYVKMQIRXSHS92-:%'RS MRÑGMS HE HÍGEHE HSW ERSW YQ TSYGS QIRSV QEW EMRHE GSQ QMP ZÅPZYPEW 3 HIWIRZSPZMQIRXSHSW 92-:%' JSMJSQIRXEHSTIPSW GSRXVEXSW GSQ S 2EXMSREP &YVIEY SJ 7XERHEVHW ERH 4VYHIRXMEP -RWYVERGI GSQ XVERWJIVÎRGMETSWXIVMSVHITEXIRXITEVEE6IQMRKXSR6ERH 3 WYVKMQIRXSTÞFPMGSHS92-:%'JSMYQ XVYUYIHSWQIMSWHI GSQY RMGEËÇS 392-:%'JSMIQTVIWXEHSE'&7TEVETVIZMWÙIWHEWIPIMËÙIWHI 3 92-:%' TVSNIXSY E ZMX×VME HI ( )MWIRLS[IV GSRXVEVMERHS EW GVMEHS S WIQMGSRHYXSV HI MQTYVI^EW UYI I\MKI QIRSV UYERXMHEHI HI XIQTIVEXYVE I TVSHY^ E EQTPMEËÇS HE GSVVIRXI IPÍXVMGE 4EVE IPI )Q .3,2 &%6())2 ;%08)6 &6%88%-2 I ;-09%1 7,3'-)= XSHSW HI &IPP 8IPITLSRI 0EFSVEX×VMSW HIVEQ MRÑGMS E YQE VIZSPYËÇS GSQ E MRZIRËÇS HS XVERWMWXSV )Q VIGIFIVEQ S 4VÎQMS 2SFIP HI *ÑWMGE TIPS WIYW XVEFEPLSW 3 8VERWMWXSV EWWMQ GSQS SYXVSW HMWTSWMXMZSW ÞXIMW XEMW GSQS S HMSHS WIQMGSRHYXSV HMSHSXÞRIP IXG JE^IQ YWS HI WIQMHYXSVIW HI MQTYVI^EW UYI VIWYPXEQ HE EHMËÇS GSRXVSPEHE HI GIVXEW MQTYVI^EW I WIQMGSRHYXSVIW MRXVÑRWIGSW 7 % < ) 2 - % 2 % 8LI +ÎRIWMW SJ 7MPMGSR :EPPI] MR ,%00 4 ERH 1%6/ 97)2 % 7MPMGSR 0ERHWGETI EXVEZÍW HIWXI GSRWEKVEHS EVXMKS EJIXYSY S VIWKEXI LMWX×VMGS HE JSVQEËÇS HS 7MPMGS R :EPPI] TVSGYVERHS VIZIPEV G SQ S IWXI WI XSVRSY YQ JIRØQIRS GSRXIQTSVÆRIS HI I\TVIWWÇS MRXIVREGMSREP EREPMWERHS EW GSRHMËÙIW I GSRNYRXYVEW IQ UYI EW IQTVIWEW HI EPXE X IGRSPSKME PÅ WI MRWXEPEVEQ I G SQ S JSVEQ MRGIRXMZEHEW E WI HIWIRZSPZIVIQ EPÍQ HI IZMHIRGMEV UYEMW JSVEQ SW IJIMXSW HIWIRGEHIEHSW TIPE I\TERWÇS HIWWEW MRHÞWXVMEW RE VIKMÇS 7IKYRH S 1 %6/ 97)2 IX EPMM MR ,MKL 8IGL %QIVMGE E GSQTVIIRWÇS HE KÎRIWI HS 7MPMGSR :EPPI] EFSVHEHS TSV7%<)2-%2 Í YQ VIWYPXEHS HS TETIP GVYGMEP GSPSGEHS TIPE NYWXETSWMËÇS HI YQE MRWXMXYMËÇS 7XERJSVH 9RMZIVWMX] YQ IQTVIIRHIHSV MRHMZMHYEP TVSJIWWSV *6)()6-'/ 8)61%2 I YQE HIQERHE LMWXSVMGEQIRXI HIXIVQMREHE TIPS 4IRXÅKSRS RS TIVÑSHS HE +YIVVE *VME I HE 'SVÍME 6 3 7 > % / 8 TT I\TIGXEXMZEW HSW IWTIGMEPMWXEW GSQ YQ IVVS QÑRMQS IWXMQEHS IQ HS XSXEPHIZSXSW )Q JSMMREYKYVEHSTIPE7TIVV]6ERHSTIVÑSHSHITVSHYËÇSGS QIVGMEPHSWGSQTYXEHSVIWGSQSMRÑGMSHEJEFVMGEËÇSHS92-:%'-GSQ TSWXS REUYIPE ÍTSGE HI PSKMGMEMW TVSHY^MHSW TSV XVERWMWXSV QIQ×VME HI RÞGPISW QEKRÍXMGSW IFEXGL VIQSXS )WXEW XVERWJSVQEËÙIWJM^IVEQ WYVKMVE WIKYRHEKIVEËÇSHIGSQTYXEHSVIW 2SJMREPHSWERSWJSMGVMEHSTSV.%'//-0&=I63&)6823= ')HE8I\EW-RWXVYQIRXWGSQ EPKYRW MQTEWWIWXÍGRMGSWS'MVGYMXS-RXI KVEHSUYITIVQMXMEVIYRMVRYQE ÞRMGETEWXMPLEHI WMPÑGMS QEMW HI XVERWMWXSVIW HMSHSW GETEGMXSVIW VIWMWXSVIW I MRHYXSVIW 7YVKMRHS HIWWEW MRSZEËÙIWXIGRSP×KMGEWEXIVGIMVEKIVEËÇSHIGSQTYXEHSVIW (YEWHÍGEHEWHITSMWQEMWI\EXEQIRXIIQ 63&)6823=') HIWIRZSPZITIPE-28)0SQMGVSTSGIWWEHSV'LMTUYIGSRWMWXMYIQVIYRMV RYQEQMGVSTEWXMPLEHI WMPÑGMSYQ GSQTYXEHSVMRXIMVSGSQS 'MVGYMXS-RXI KVEHSIQEMWE'49*SM HIWWEW MRSZEËÙIWUYIWYVKMYEUYEVXEKIVEËÇSHI GSQTYXEHSVIW ,SNI XSVREWI QEMW HMJÑGMP TEVEEPKYRWTEÑWIW UYI RÇSEPGERËEVEQ SW IPIZEHSWIWXÅKMSWHIGSRGITËÇSXÍGRMGEIHIIRKIRLEVMETSHIVIQVIGSRWXMXYMV IQ WIYW PEFSVEX×VMSW GSQ E I\ÑKYE HMWTSRMFMPMHEHI HI VIGYVWSW MRZIWXM QIRXSW I GETMXEMW S TVSGIWWS HI TVSHYËÇS I GVMEËÇS HI EPXE XIGRSPSKME TVMRGMTEPQIRXIGSQSIWXEFIPIGMQIRXSHSHMVIMXSMRXIVREGMSREPHITEXIRXII TVSXIËÇSHIGVMEËÇSHSWSJX[EVIUYIZIQTVMZERHSQYMXSWHIWWIWTEÑWIWHS EGIWWSMQTSVXERXÑWWMQSHIXIGRSPSKMEMRJSVQEËÇSIGSRHMËÙIWGMIRXÑJMGEWHI GSQTIXMXMZMHEHIREIGSRSQMEQYRHMEPGETMXEPMWXE 8)6')-6% 1)8%136*37) %86%27-«§3(%73'-)(%()-2(9786-%04%6%91%3986% 4·759%059)6 '3-7% 39%6))7869896%«§3-2(9786-%0 (3'%4-8%0-713# 3 GVIWGMQIRXS HE TEVXMGMTEËÇS HE GMÎRGME RS TVSGIWWS TVSHYXMZS E I\TERWÇSHEWMRSZEËÙIWXIGRSP×KMGEWNÅXVEXEHEWERXIVMSVQIRXITVSTSVGMS REQEJSVQEËÇSHIVIPEËÙIWWSGMEMWHITVSHYËÇSUYIMRXIVJIVIQIEPXIVEQE GSQTSWMËÇSHSGETMXEPHSIWTEËS)WXEWMRSZEËÙIWXIGRSP×KMGEWGYQTVIQS TETIP IWXVEXÍKMGS HI ZMEFMPM^EV I JSVXEPIGIV EW GSRHMËÙIW HIWMKYEMW HI GSRGSVVÎRGMEIRXVISWGMVGYMXSWIWTEGMEMWHITVSHYËÇS %W GLEQEHEW IGSRSQMEW HI EKPSQIVEËÇS UYI ERXIW JSVQEZEQ SW VIUYMWMXSWTEVEEGSRWXMXYMËÇSHSTVSGIWWSTVSHYXMZSETEVXMVHEWZERXEKIRW 2):-27'311%+)6 IQ ,MWX×VME 6IWYQMHE HSW )WXEHSW 9RMHSW GSQTEVEXMZEWUYI WIYWIWTEËSW SJIVIGMEQTEVIGIQ RÇSTVIIRGLIVQEMWSW EXVMFYXSW RIGIWWÅVMSW TEVE S HIWIRZSPZMQIRXS HEW MRHÞWXVMEW HI EPXE XIGRSPSKME UYI VIJYKMEQWI HIWXEW TEVE EW GMHEHIW MRJSVQEGMSREMW I SW XIGRST×PSW 7ÇS 'EVPSW 'EQTMREW 4MVEGMGEFE 7ÇS .SWÍ HSW 'EQTSW 7ERXE6MXEHS7ETYGEÑ'EQTMRE+VERHIIXGGSRWXMXYÑHSWZMETVSGIWWSHI TIVMJIVM^EËÇSRS&VEWMPESUYITEVIGIETEVXMVHEGSRWSPMHEËÇSHSWEXVMFYXSW XÍGRMGSW MRHMWTIRWÅZIMW Ä WYE PSGEPM^EËÇS I GSQTSWMËÇS 2IWXI WIRXMHS S IWXEFIPIGMQIRXSHIVIPEËÙIWIEJSVQEËÇSHSWRSZSWTVSGIWWSWSVKERM^EGMS REMW I MRJSVQEGMSREMW HI EVXMGYPEËÇS IVIKYPEËÇSHETVSHYËÇS GSQTÙIQ S GSRXIÞHSHIWWIWEXVMFYXSWXÍGRMGSW 3W IWTEËSWVIJÞKMSW HSWGMVGYMXSW XIGRSP×KMGSWHSW XIVVMX×VMSWJSVEQ XVEXEHSWREEXYEPMHEHIGSQSGMHEHIWMRJSVQEGMSREMWSYXIGRST×PSW ) JSM GSQ E JSVQEËÇS HEW GMHEHIW MRJSVQEGMSREMW I E VIIWXVYXYVEËÇS XIVVMXSVMEPHEWMRHÞWXVMEWRSGETMXEPMWQSUYIWIMRMGMSYSTIVÑSHSHIXVERWMËÇS HSTIVÑSHSHEMRHYWXVMEPM^EËÇSJSVHMWXETEVEEJSVHMWXEMRXIRWMZESY JPI\ÑZIP XEQFÍQ GLEQEHE HI T×WJSVHMWXE I RÇS HE WSGMIHEHI MRHYWXVMEP TEVE E WSGMIHEHIT×WMRHYWXVMEPGSQSTVIXIRHIYIZMHIRGMEVSMHIÅVMST×WMRHYWXVME PMWXEUYIIWXYHEVIQSWEWIKYMV 'VÑXMGEWÄW8ISVMEW7SFVI3%HZIRXSHE7SGMIHEHI4×W-RHYWXVMEP %MHÍMEHIIQIVKÎRGMEHIYQEWSGMIHEHIT×WMRHYWXVMEPÍVIPEXMZEQIRXI ERXMKE EI\TVIWWÇS JSM YXMPM^EHEESUYI XYHS MRHMGETIPETVMQIMVEZI^IQ 1EWW×RSMRÑGMSHSWERSWJSMHIJMRMXMZEQIRXITSTYPEVM^EHERSW )WXEHSW9RMHSWEXVEZÍWHE9RMZIVWMHEHIHI,EVZEVH 7IKYRHSSWTVIGYVWSVIWHST×WMRHYWXVMEPMWQSEWSGMIHEHIEKVÅVMEJSM WYTIVEHETIPEMRHYWXVMEP XIRHSGSQSQSXSVHEWQSHMJMGEËÙIWEQERYJEXYVE REWSGMIHEHIT×WMRHYWXVMEPIQIVKIRXISTMZØHEVIZSPYËÇSGSRXIQTSVÆRIE WIVÅSGSQTYXEHSV % WSGMIHEHIT×WMRHYWXVMEP XIVMEGSQSTVMRGÑTMS JYRHEQIRXEPEGIRXVE PMHEHIHSGSRLIGMQIRXSXI×VMGSSRHIEGMÎRGMEEQTPMEVMEEWYETEVXMGMTEËÇS RSTVSGIWWSTVSHYXMZSEXVEZÍWHSGVIWGMQIRXSHEWGLEQEHEWRSZEWEXMZMHEHIW GMIRXÑJMGEWHIGSRGITËÇSHETVSHYËÇS 83**0)6 % ST GMX T 7 I K Y R H S2%7&-88- . ST GMX T &6)77%2( % I (-780)6 ' ST GMXT I 0 =38%6( . * TEVE UYIQ JSM (%2-)0 &)00 WSGM ×PSKS HE 9RMZIVWMHEHI HI ,EVZEVH S VIWTSRWÅZIP TIPE TSTYPEVM^EËÇS HS MHIÅVMS T×WMRHYWXVMEPMWXE 0 = 3 2 (EVKYQIRXSYUYITEVE(%2-)0&)00 E EKVMGYPXYVE JSM WYTIVEHE TIPE WSGMIHEHI MRHYWXVMEP GSQ ÎRJEWI IGSRØQMGE HSQMRERXI GSPSGEHE TIPE QERYJEXYVE WSFVI S GEQTS EWWMQ E WSGMIHEHI T×W MRHYWXVMEP GSQS VIWYPXEHS HS IWJSVËS IGSRØQMGS ZSPXEHS Ä TVSZMWÇS HI WIVZMËSW ,SYZIYQEWSFVIZEPSVM^EËÇSUYEWIHIXIVQMRMWXEHEWQSHMJMGEËÙIWUYIS GSQTYXEHSV EGEVVIXEVMERSHIWIRZSPZMQIRXS HE WSGMIHEHIT×WMRHYWXVMEP I IQGIVXEQIHMHEJSVEQWYFIWXMQEHEWEWRSZEWGSRXVEHMËÙIWSWMQTEGXSWIE REXYVI^EP×KMGEHSTVSGIWWSUYIMQTYPWMSRSYEJSVQEËÇSISGVIWGMQIRXSHE EPXEXIGRSPSKMEIWIYWZÑRGYPSWQEMWIWXVIMXSWGSQEEGYQYPEËÇSGETMXEPMWXE IETVSHYËÇSQMPMXEV 2E)YVSTESMHIÅVMST×WMRHYWXVMEPMWXEEHUYMVMYYQEHIWMKREËÇSTV×TVME TEWWERHSEWIVXEQFÍQHIRSQMREHERSJMREPHEHÍGEHEHIHI7SGMIHEHI 4VSKVEQEHESY7SGMIHEHI8IGRSGVÅXMGE 7IKYRHS SW TVIGYVWSVIW HST×WMRHYWXVMEPMWQS IYVSTIYSTIVÑSHS HE WSGMIHEHIMRHYWXVMEPIHEÍTSGEHSWSGMEPMWQSIWXEZEQHIWETEVIGIRHS4EVE IWXIW EW XVERWJSVQEËÙIW TVSHY^MHEW RS MRXIVMSV HE WSGMIHEHI MRHYWXVMEP SGEWMSREVEQEJSVQEËÇSHEWSGMIHEHITVSKVEQEHEUYIÍT×WMRHYWXVMEPGSQS EWSGMIHEHIMRHYWXVMEPJSMT×WQIVGERXMP )WXEW MHÍMEWTEVIGMEQ GSRJPYMVI WIETVS\MQEVHSWTSWXYPEHSWXI×VMGSW HEWGSVVIRXIWHSHIXIVQMRMWQSXIGRSP×KMGSEQIVMGERSUYI TVSTØWGLEQEV HI8IGRSXVØRMGEEWSGMIHEHIT×WMRHYWXVMEP)WWEWXISVMEWMRGSVTSVEHEWTIPE XVEHMËÇSHEWSGMSPSKMEJVERGIWEWIGSRXVETYRLEQEWMHÍMEWWYWXIRXEHEWTIPSW WIYWTVIGYVWSVIWRSW)9%UYIRÇSTSYTEVEQWYEWGVÑXMGEWTSMWEGVIHMXEZEQ UYIIWWIRISPSKMWQSXVE^MEMRÞQIVSWMRGSRZIRMIRXIWXI×VMGSWREQIHMHEIQ UYI MRXVSHY^ME VEGMSGÑRMSW UYI GSRHY^MEQ E YQE QSHEPMHEHI HI HIXIVQMRMWQSXIGRSP×KMGSGSQEMHÍMEHIREXYVI^EQSHIPEHSVESYTVMQE^ME HSW JEXSVIW XIGRSXVØRMGSW HIWQIRXMHS HIWJIMXS TIPE WYFSVHMREËÇS HE IGSRSQME ES WMWXIQETSPÑXMGS 3 EYQIRXS HIWIQTIRLEHS TIPS WIXSV HI GMÎRGME RS TVSGIWWS TVSHYXMZS EQTPME E IQMRÎRGME HS TVSJMWWMSREP HSW KVYTSW XÍGRMGSW I GMIRXÑJMGSW QEW E MRXVSHYËÇS HS UYI EKSVE Í GLEQEHS XIGRSPSKME HI MRJSVQEËÇS GSRHY^ TEVE YQ RSZS TVMRGÑTMS JYRHEQIRXEP HS GIRXVS HE IGSRSQME I HE WSGMIHEHI )WXI TVMRGÑTMS JYRHEQIRXEP S TVMRGÑTMS EPMQIRXEHSV UYI Í E P×KMGE HI XSHSW SW SYXVSW Í E GIRXVEPMHEHI HS GSRLIGMQIRXS XI×VMGS &)00 EVKYQIRXE UYI E WSGMIHEHI HE MRJSVQEËÇS Í HIWIRZSPZMHE RS GSRXI\XS T×WMRHYWXVMEPMWQS )PI TVIZMY S GVIWGMQIRXS HI YQE RSZE VIHI HI XVEFEPLS WSGMEP FEWIEHE REW XIPIGSQYRMGEËÙIW UYI TSHI WIV HIGMWMZS TEVE S QSHS UYI EW QYHERËEW IGSRØQMGEW I WSGMEMW WÇS GSRHY^MHEW S QSHS IQ UYI Í GVMEHS S GSRLIGMQIRXS I VIXMHS I S GEVÅXIV HS XVEFEPLS I SGYTEËÙIW IQ UYI SW LSQIRW WÇS IRKENEHSW 3 GSQTYXEHSV HIWIQTIRLE S TETIP HI TMZØ RIWXE VIZSPYËÇS &)00 XEQFÍQ IWUYIQEXM^SY SYXVEW GEVEGXIVÑWXMGEW WMKRMJMGEXMZEW HE WSGMIHEHI HI MRJSVQEËÇS TIPS IRGYVXEQIRXS HS XIQTS HI XVEFEPLS I HMQMRYMËÇS HI XVEFEPLEHSV RE TVSHYËÇS EXYEPQIRXI VIGSPSGE S XVEFEPLS GSQS VIGYVWS HI ZEPSV EHMGMSREHS RS TVSHYXS REGMSREP 'SRLIGMQIRXS I MRJSVQEËÇS WYTPERXEQ XVEFEPLS I GETMXEP GSQS ZEVMÅZIMW GIRXVEMW HE IGSRSQME * S M S WSGM×PS KS JVERGÎW %0%-2 8396%-2) UYIQ RS JMREP HSW ERSW WI XSQSY S TVMRGMTEP TSVXEZS^ HS MHIÅVMS T×WMRHYWXVMEPMWXE RE )YVSTE ES IWGVIZIV MRWTMVEHS IQ &)00 S PMZVS % 7SGMIHEHI 4×WMRHYWXVMEP %PKYQEWZI^IWTSHIWIGSRWXEXEVEVXMGYPEËÙIWHIWXEWMHÍMEWGSQEWUYI TVIZMEQ E JSVQEËÇS HI YQ QIMS XÍGRMGS HSQMRERXI WIKYRHS E UYEP E GVMEËÇSHIYQQIMS XÍGRMGSIWGETEESWRSWWSWWIRXMHSWITSVXERXSRSW MQTÙIEWWYEWPIMW4VSGYVERHSWIVIEFMPMXEVJVIRXIÄWGVÑXMGEWSWMHI×PSKSW JVERGIWIWEGVIHMXEZEQUYI UYERXSQEMWYQEGMZMPM^EËÇSÍXIGRMGMWXEQIRSW IPE IWXÅ WYFQIXMHE ES HIXIVQMRMWQS XIGRSP×KMGS 7IKYRHS EMRHE IWWE GSVVIRXIEKVERHIXVERWJSVQEËÇSUYIEXIGRSPSKMEHIMRJSVQÅXMGETVSTMGMEVME RÇS WIVIJPIXIVMEXÇSMRXIRWEQIRXI RSGSRWYQS IRE ZMHEGSXMHMERE QEWRE GYPXYVE 3 IPIQIRXS HI GSRWIRWS RIWWEW HYEW ZIVXIRXIW HS TIRWEQIRXS T×W MRHYWXVMEPMWXEIVEEGVIRËEREMHÍMEHIUYIREWSGMIHEHIT×WMRHYWXVMEPSGSVVI VME SEYQIRXSWYFWXERGMEPHETEVXMGMTEËÇSHIRSZSWUYEHVSWXÍGRMGSWIMRXI PIGXYEMWRSTVSGIWWSHITVSHYËÇSQEWIWXEEJMVQEËÇSUYIJSMEHZSKEHEGSQS TVMRGÑTMS XI×VMGS E\MEP HI I\TPMGEËÇS HE WSGMIHEHI T×WMRHYWXVMEP RÇS WI IZMHIRGMSYHIJEXS 4EVE UYI WINE IJIXYEHE YQE GVÑXMGE HEW MHÍMEW HSW XI×VMGSW HS T×W MRHYWXVMEPMWQSÍTVIGMWSUYIWIVIZIPISWIRYRGMEHSWJVÅKIMWIWEYHSWMWXEWHI WYEWXISVMEWTVSGYVERHSXVEXEVSI\EKIVSSXMQMWXEHIWYEWTVIZMWÙIWGSQ S VIEPMWQSMTWSJEGXSHEWIZMHÎRGMEWIQTÑVMGEWUYIHIQSRWXVEQEGSRXMRYMHEHI HETVÍLMWX×VMEHEWGSRHMËÙIWHII\MWXÎRGMEQEXIVMEPHEWSGMIHEHILYQERERS TIVÑSHSEXYEPWIRHSSGEWMSREHETSVYQEVIIWXVYXYVEËÇSMRHYWXVMEPIXIVVMXSVMEP HS TVSGIWWS HI EGYQYPEËÇS GETMXEPMWXE KPSFEP RS PYKEV HE MHÍME HE IQIVKÎRGMEHIYQEXVERWMËÇSHEWSGMIHEHIT×WMRHYWXVMEPGETMXEPMWXETEVESYXVE T×WUYEPUYIVGSMWE 7IVME HI GIVXS QSHS TVIQEXYVS EXVMFYMV ESW TVIGYVWSVIW HS T×W MRHYWXVMEPMWQSEQIVMGERSEMRMGMEXMZEHIHEVGSRXMRYMHEHIESWTSWXYPEHSWHS HIXIVQMRMWQSXIGRSP×KMGS UYERHSESUYIXYHSMRHMGEIWXIWJSVEQJSVXIW 0=32 ( ST GMXT 4EVE 0=32 3W IWXYHSW HI 8396%-2) XSQEVEQ GYVWS MRXIMVEQIRXI HMJIVIRXI HS HI &)00 )PI HIWEJMSY E WYEZI WYTSWMËÇS HS T×WMRHYWXVMEPMWQS IQ UYI E PYXE HI GPEWWI IVE XVEXEHE GSQS EPKS HS TEWWEHS E HIWTIMXS HMWWS IPI UYIWXMSRSY QYMXEW MQEKIRW HI GPEWWI UYI I\GIWWMZEQIRXI GSRXMRYEQ VIWWSERHS RE IVE HS GETMXEPMWQS MRHYWXVMEP )PI GSRZMHSY SW PIMXSVIW E GSRWMHIVEVIQ GSQS HI JYRHEQIRXEP MQTSVXÆRGME E WMXYEËÇS HSW GSRJPMXSW HI GPEWWI I SW QSZMQIRXSW HIRXVS HE WSGMIHEHI TVSKVEQEHE )Q TEVXMGYPEV IPI XIZI IQ QIRXI YQE QEMSV GPMZEKIQ IRXVI XIGRSGVEXEW I SW QEMW HÑWTEVIW KVYTSW TIVMJÍVMGSW I IWXMPSW HI ZMHE UYI WÇS KSZIVREHSW TSV IPIW 3 HSQÑRMS HE TVSTVMIHEHI Í QIRSW YQE TEVPI WYNIMXE E HMWTYXE UYI GEYWE TVSHY^MHE TIPE VIWMWXÎRGME TSVUYI E GPEWWI HSQMRERXI HMWTÙI HI GSRLIGMQIRXS I GSRXVSPI HI MRJSVQEËÇS ' S Q S S JI^ +-(()27 %28,32= IQ 7SGMSPSKME YQE FVIZI TSVÍQ GVÑXMGE MRXVSHYËÇS 2SZEW GPEWWIW RSZEW XIGRSPSKMEW ,Å ZÅVMSW EYXSVIW MRJPYIRXIW EPKYRW HSW UYEMW EHSXEQ YQ TSRXS HI ZMWXE WIQIPLERXI ES HI 1%6< UYI XÎQ EXVMFYÑHS YQE STSWMXSVIWHEUYIPIMHIÅVMS4SMW ESIWXEFIPIGIVIQ SGSRGIMXSHIWSGMIHEHI T×WMRHYWXVMEPEGVIHMXEZEQGSQYQEJSVXIHSWIHISXMQMWQSUYIIWXEW×WI GSRWSPMHEVMEUYERHSJSWWIZIVMJMGEHSYQIPIZEHSGVIWGMQIRXSHEWEXMZMHEHIW RÇS MRHYWXVMEMW UYIVIUYIVIVMEQ TEVE WYEI\IGYËÇSTVSJMWWMSREMW GSQ EPXS KVEY HI UYEPMJMGEËÇS GMIRXÑJMGE I XÍGRMGE 3 UYI WI GSRWXMXYMY QEMW RYQE ÎRJEWI IWTIGMEP ESW XMTSW IWTIGÑJMGSW HI QYHERËE XIGRSP×KMGE GSRWMHIVERHSSW IWTIGMEPQIRXI MQTSVXERXIW RE JSVQEËÇS HE EXYEP XVENIX×VME HEW WSGMIHEHIW GETMXEPMWXEW 2IWWI GEWS E GSRGITËÇS UYI QEMW WI HIWXEGE Í EUYIPE WIKYRHS E UYEP IWXEQSW RSW ETVS\MQERHS HI YQE IVE UYI RÇS QEMW WIVÅ HSQMREHE TIPE MRHÞWXVME QERYJEXYVIMVE GSQS RS TEWWEHS QEW TIPE XIGRSPSKME MRJSVQEGMSREP 8EMW EYXSVIW VIJIVIQWI RÇS ETIREW E YQE WSGMIHEHI T×WGETMXEPMWXE QEW XEQFÍQ E YQE WSGMIHEHI T×WMRHYWXVMEP 7I S PIMXSV UYMWIV GSQTEVEV HYEW ZIVWÙIW GSRXVEWXERXIW HIWWE MHÍME ZINE (%2-)0 &)00 8LI 'SVRMRK SJ 4SWX-RHYWXVMEP 7SGMIX] I %0%-2 8396%-2) 8LI 4SWX-RHYWXVMEP 7SGMIX] )PIW EPIKEQ UYI S TETIP HIWIQTIRLEHS TIPE GMÎRGME RE QSHIVRE TVSHYËÇS E HMWWIQMREHE EHSËÇS HI GSQTYXEHSVIW I QEMW VIGIRXIQIRXI HE XIGRSPSKME HI QMGVSIPIXVØRMGE EGEVVIXEVÇS GSRWIUàÎRGMEW QYMXS TVSJYRHEW TEVE E SVHIQ TVII\MWXIRXI (I JEXS XEMW GSRWIUàÎRGMEW WÇS TPEYWÑZIMW IQFSVE E MRXVSHYËÇS HE QMGVSXIGRSPSKME WINE JIRØQIRS XÇS VIGIRXI UYI EMRHE RÇS TSHIQSW EZEPMEV WIYW VIWYPXEHSW 'IVXEQIRXI JEPEV IQ YQE WIKYRHE VIZSPYËÇS MRHYWXVMEP Í RS QÑRMQS TVIQEXYVS %HIQEMW TSHIQSW STSV JSVXIW SFNIËÙIW Ä MHÍME HI UYI E MRHYWXVMEPM^EËÇS IWXÅ IQ ZMEW HI WIV WYFWXMXYÑHE TSV YQ RSZS XMTS HI WSGMIHEHI SY WINE YQE SVHIQ T×WMRHYWXVMEP UYI WI QSWXVEVÅ XSXEPQIRXI HMJIVIRXI HEW WSGMIHEHIW GSRXIQTSVÆRIEW :INEQSW EPKYQEW HEW GVÑXMGEW QEMW RSXÅZIMW % RSËÇS HI YQE WSGMIHEHI T×WMRHYWXVMEP HÅ GSRXMRYMHEHI ES HIXIVQMRMWQS XIGRSP×KMGS UYI WYFNE^ Ä XISVME HE WSGMIHEHI MRHYWXVMEP 'SQS NÅ IRJEXM^IM HIZIQSW TVIGEZIVRSW HI XSHSW SW XMTSW HI HIXIVQMRMWQS UYERHS ETPMGEHSW E UYIWXÙIW LYQEREW 2IRLYQE XIGRSPSKME TSHI WIV EHIUYEHEQIRXI IWXYHEHE UYERHS GSRWMHIVEHE WITEVEHEQIRXI HE IWXVYXYVE WSGMEP Ä UYEP IWXÅ EWWSGMEHE 2EW WSGMIHEHIW SGMHIRXEMW IWWEW IWXVYXYVEW GSRXMRYEQ E WIV TVIHSQMRERXIQIRXI GETMXEPMWXEW %PKYRW EYXSVIW XÎQ WYKIVMHS UYI E IQMRÎRGME HI YQE WSGMIHEHI T×W MRHYWXVMEP EWWMREPE S WYVKMQIRXS HI YQE RSZE GPEWWI HMVMKIRXI GYNS TSHIV WIVÅ FEWIEHS QEMW RS GSRXVSPI HE MRJSVQEËÇS HS UYI RE TVSTVMIHEHI 6IEPQIRXI IWWE RSËÇS RÇS Í IWWIRGMEPQIRXI RSZE TSMW VIQSRXE ES WÍGYPS <-< % WSGMIHEHI MRHYWXVMEP IQIVKIRXI HI 7%-287-132 TSV I\IQTPS HIZIVME WIV KSZIVREHE TSV YQE EWWSGMEËÇS HI GMIRXMWXEW I XÍGRMGSW -WWS RÇS EGSRXIGIY I ETIWEV HSW TVSKVIWWSW GSRXIQTSVÆRISW HE XIGRSPSKME MRJSVQEGMSREP Í TVSZÅZIP UYI RÇS SGSVVE RIQ QIWQS RSW HMEW EXYEMW %W XVERWJSVQEËÙIW WSGMEMW I IGSRØQMGEW ZMRGYPEHEW ÄW RSZEW XIGRSPSKMEW XÎQ HI WIV GSQTVIIRHMHEW RYQ GSRXI\XS QYRHMEP &SE TEVPI HE MRHÞWXVME UYI JSVRIGI E QEMSV TEVXI HSW FIRW ES 3GMHIRXI IWXÅ EXYEPQIRXI PSGEPM^EHE JSVE HEW TV×TVMEW WSGMIHEHIW SGMHIRXEMW % WYTSWXE GLIKEHE HE WSGMIHEHI T×WMRHYWXVMEP TVSZEZIPQIRXI WIVÅ QEMW FIQ HIWGVMXE GSQS YQE VIIWXVYXYVEËÇS HE IGSRSQME QYRHMEP RE UYEP SW TEÑWIW GETMXEPMWXEW GSRWXMXYIQ S GIRXVS EHQMRMWXVEXMZS HI YQ WMWXIQE IGSRØQMGS QYRHMEP IQFSVE IWWI GIRXVS TSWWE WIV WYFQIXMHS E WMKRMJMGEXMZSW TVSGIWWSW HI XVERWMËÇS UYEWIWSFVIZMZÎRGMEWEYHSWMWXEHEWMHÍMEWHSWYXSTMWXEWHSWÍGYPS<-<QEW UYIEMRHEIRGSRXVELSNIQYMXSWJIVVIRLSWEHITXSW %PXE8IGRSPSKMEI6IIWXVYXYVEËÇS8IVVMXSVMEP 9QKVERHIHIWEJMSGSPSGEWITEVEETIWUYMWEKISKVÅJMGEEXYEPXVEXEWIHI HIWZIRHEVGSQSEMQTPERXEËÇSHIEPXEXIGRSPSKMEMRJPYIRGMEIÍMRJPYIRGMEHE TIPEWVIPEËÙIWHIXVEFEPLSTIPELMIVEVUYMEHEWRSZEWJSVQEWSVKERM^EGMSREMWI MRJSVQEGMSREMW HITVSHYËÇS I XVEFEPLS HI VIKYPEËÇS RS IWTEËS I TIPSW EWTIGXSWPSGEGMSREMWLMWXSVMGEQIRXIGSRWXMXYÑHSWIQYQXIVVMX×VMS 3 GVIWGMQIRXS HETEVXMGMTEËÇS HE GMÎRGME RS TVSGIWWS TVSHYXMZS I E I\TERWÇS HEW MRSZEËÙIW XIGRSP×KMGEWNÅ XVEXEHSW EGMQE TVSTSVGMSREQ E JSVQEËÇSHIRSZEWVIPEËÙIWWSGMEMWHITVSHYËÇSUYIMRXIVJIVIQ IEPXIVEQEW GEVEGXIVÑWXMGEWISGSRXIÞHSHSW XIVVMX×VMSWRSTVSGIWWSKPSFEPHITVSHYËÇS TSMWIWWEWRSZEW XIGRSPSKMEW WÇSIWXVEXIKMGEQIRXIYXMPM^EHEWTEVEGVMEVIQI VIGVMEVIQEWGSRHMËÙIWHIWMKYEMWHIGSRGSVVÎRGMEITVSHYËÇSKPSFEP )QWYEKVERHIXSXEPMHEHIEWGLEQEHEWIGSRSQMEWHIEKPSQIVEËÇSUYI ERXIW JSVQEZEQ SW VIUYMWMXSW TEVE E GSRWXMXYMËÇS HS TVSGIWWS TVSHYXMZS JSVHMWXEHEWKVERHIWIQTVIWEWEXVEZÍWHEWZERXEKIRWGSQTEVEXMZEWUYIWIYW IWTEËSWSJIVIGMEQTEVIGIQ UYI RÇSWIENYWXEQ QEMWEIWWEWRSZEWGSRHM ËÙIWHIGSRGSVVÎRGMEUYIWIXSVREVEQEXVMFYXSWRIGIWWÅVMSWTEVESHIWIRZSP ZMQIRXSHSTVSGIWWSTVSHYXMZST×WJSVHMWXEHEWMRHÞWXVMEWHEEPXEXIGRSPSKME 9QE XIRHÎRGMEUYI TEVIGI WI GSRJMVQEV IQ XIVQSW XIVVMXSVMEMW IQ EPKYRWTEÑWIW ÍHIUYI EWIQTVIWEWHIEPXEXIGRSPSKMEEJEWXEQWIZSPYRXE VMEQIRXI HEWQIKEQIXV×TSPIWIYXMPM^EQWIHIWXEWTEVEI\IGYËÇSHIEXMZMHE HIWJMRERGIMVEWGSQIVGMEMWI WIVZMËSW % MQTPERXEËÇSHIMRHÞWXVMEW IQ VI KMÙIWGYNSTIVJMPPSGEGMSREPRÇSTSWWYMEMRJPYÎRGMEHEWKVERHIWSVKERM^EËÙIW WMRHMGEMW SY EW EPXEW XE\EW HSW XVMFYXSW I MQTSWXSW GSFVEHSW TIPSW MRIJMGMIRXIW WIVZMËSW FYVSGVÅXMGSW I TÞFPMGSW HEW KVERHIW I UYEWI JEPMHEW QIKEQIXV×TSPIW EPÍQ HS EPXS GYWXS HSW WEPÅVMSW HEW VIKMÙIW MRHYWXVMEMW XVEHMGMSREMWTEVIGIQ WIVJEXSVIWXVEXÍKMGSUYIZIQI\TPMGEVEJSVQEËÇSHEW RSZEWXIVVMXSVMEPMHEHIWYVFEREWRSWTEÑWIWHIWIRZSPZMHSW %P×KMGEHIVITVSHYËÇSHEWIQTVIWEWHIEPXEXIGRSPSKMERSIWTEËSEPÍQ HITVSTMGMEVEJSVQEËÇSHSWJIRØQIRSWHIHIWMRHYWXVMEPM^EËÇSIVIMRHYWXVME PM^EËÇSVIKMSREP JE^IRHS WYVKMVYQ TVSGIWWSHIVIHIJMRMËÇSXIVVMXSVMEPIHI HIWGIRXVEPM^EËÇSHEWEXMZMHEHIWMRHYWXVMEMWIMRJSVQEGMSREMW )WXIWJIRØQI RSW WSF S WMKRS HETVSHYËÇS MRHYWXVMEP JSVHMWXE MRXIRWMZE SY T×WJSVHMWXE ZÎQSGEWMSRERHSEGSRXVETEVXMHEHSTVSGIWWSHIHIWIRZSPZMQIRXSMRHYWXVMEP VIKMSREP E TIVMJIVM^EËÇS XIGRSP×KMGE HSW RSZSW EXVMFYXSW PSGEGMSREMW TIPE MRHÞWXVMEREWGIRXI %FEWIHEIWXVEXÍKMEXIVVMXSVMEPHIHIWIRZSPZMQIRXSHEWMRHÞWXVMEWHIEPXE XIGRSPSKME XIQ WMHS S HIWIRZSPZMQIRXS I E GSRWXMXYMËÇS HI VIPEËÙIWHI XVEFEPLS MRXIRWMZEW IJPI\ÑZIMWIRSZEW VIPEËÙIWSVKERM^EGMSREMW UYIIWXÇS IPMQMRERHS IQ TEVXI EHMZMWÇS HS XVEFEPLS E WYFYXMPM^EËÇSHE GETEGMHEHI XIGRSP×KMGEMRWXEPEHEISXIQTSZEKS )WWEWRSZEWVIPEËÙIWHIXVEFEPLSIWXÇSWIRHSEWWIRXEHEWRYQEVIPEXMZE GSQFMREËÇSHIIQTVIWEWRSPYKEVHEKVERHIIQTVIWEHSTIVÑSHSJSVHMWXE EVXMGYPEHEWHIRXVSHITEHVÙIWUYEWIWIQTVIQEMWJPI\ÑZIMWIHMRÆQMGSWTEVE VIEPM^EËÇSHIQSHEPMHEHIWHIGSRGITËÇSHITVSHYXSWXIGRSP×KMGSW 3TVSGIWWSHIVIXIVVMXSVMEPM^EËÇSMRHYWXVMEPIQIVKIRXIZIQSGEWMSRERHS EJSVQEËÇSHIYQERSZEGSQTSWMËÇSHSGETMXEPTEVEVISVKERM^EËÇSHSTVSGIW WSHITVSHYËÇSIWXIWIWTEËSWJSVQEQGMVGYMXSWXIGRSP×KMGSWRSXIVVMX×VMSSY XIGRST×PSW GYNEFEWI TVSHYXMZE TSHI WI HEVIQ ZÅVMSW PYKEVIW ES QIWQS XIQTS RYQE XVEQE GSQTPI\E I WMQYPXÆRIE HI XVSGE HI MRJSVQEËÙIW I GSRLIGMQIRXSW XIGRSP×KMGSW KVEËEW E YQE VIPEXMZE UYIHE XIRHIRGMEP HSW GYWXSWHIGSQYRMGEËÇS2SZSWRI\SWMRXIVMRHYWXVMEMWIMRXVEWIGXSVMEMWIWXÇS WIHIWIRZSPZIRHSIRXVIIQTVIWEWIIWTEËSW % IWXEW GSRWXEXEËÙIW JPEKVERXIW HI YQ RSZS VISVHIREQIRXS HSW GMV GYMXSWIWTEGMEMWHITVSHYËÇSTIWUYMWEHSVIWHIXSHSQYRHSXÎQGLEQEHSHI VIIWXVYXYVEËÇSXIVVMXSVMEPIKPSFEPHEMRHÞWXVMERSTIVÑSHSEXYEPUYIXIQ WI GEVEGXIVM^EHSTSVETVIWIRXEVEWWIKYMRXIWXIRHÎRGMEWHIEVXMGYPEËÇS STVSGIWWSHIVIIWXVYXYVEËÇSXIVVMXSVMEPVIPEGMSREWIGSQEJSVQEËÇS HI ZÅVMSW T×PSWXÍGRMGSW PMKEHSW ESW MRZIWXMQIRXSW HI TIWUYMWE I HI HIWIRZSPZMQIRXS JMRERGMEHS TIPS )WXEHS HIWXMREHSW Ä VITVSHYËÇS HS TVSKVEQEHIHIJIWEQMPMXEV STVSGIWWSHIJSVQEËÇSHIHIWIGSRSQMEWHIEKPSQIVEËÙIWVIWYPXERXI HEEGIRXYEËÇSHEGVMWIHIVITVSHYËÇSHEWGSRHMËÙIWKPSFEMWHIEGYQYPEËÇSI QERYXIRËÇSHSWWIVZMËSWHIGSRWYQSWIPIXMZSREWKVERHIWGMHEHIWTEVIGIWIV 2YQ XVEFEPLS VIGIRXI 83 1%2)= . 8LI 6IEPMX] SJ ;SVOTPEGI *PI\MFMPMX] VIZIPE UYI EW EPXIVEËÙIW UYI IWXÇS WIRHS HIWIRZSPZMHEW REW VIPEËÙIW HI XVEFEPLS IWXÇS GVMERHS IQ EPKYRW PSGEMW HI XVEFEPLS YQ XVEFEPLEHSV QYPXMLEFMPMXEHS GSQ YQE GSRGITËÇS LSPÑWXMGE HS XVEFEPLS UYI XVEFEPLE RYQ WMWXIQE MRXIRWMZS HI TVSHYËÇS IQ IUYMTI %W QYHERËEW QEMW WMKRMJMGEXMZEW UYIIWXÇSSGSVVIRHS RÇS WI XVEHY^IQ RE EFSPMËÇS HE H MZMWÇS HS XVEFEPLS QEW RS GVIWGMQIRXS WIQ MRZIWXMQIRXS VIEP HSW RÑZIMW HI ETVSZIMXEQIRXS HS GETMXEP MRWXEPEHS I GSRZIVWÇS HI IPIZEHSW RÑZIMW HI XIQTS WSGMEP HI XVEFEPLS HIRXVS HE EXMZMHEHI HMVIXEQIRXI TVSHYXMZE 3Y WINE S SFNIXMZS TVMRGMTEP HE IWTIGMEPM^EËÇS JPI\ÑZIP XVEXEWI HI QMREV EW FEWIW HE SVKERM^EËÇS HE TVSHYËÇS XE]PSVMWXE I JSVHMWXE HS XVEFEPLS 8VEXEWI HI WI IPIZEV E XE\E VIEP HI YXMPM^EËÇS HS GETMXEP EXVEZÍW HE VIEVXMGYPEËÇS HEW XEVIJEW HI XVEFEPLS IPMQMRERHSWI SXIQTSZE^MSI HI HIWGERWS HIWJVYXEHS TIPS XVEFEPLEHSV 1%2 9)0 '%78)007 SVKERM^SY GSQ ZÅVMSW EYXSVIW S PMZVS ,MKL 8IGRSPSE 7TEGI ERH 7SGMIX] SRHI TSHIWI IRGSRXVEV WYKIWXMZEW VIJPI\ÙIW WSFVI IWXE XIQÅXMGE EWMRHÞWXVMEWHIEPXEXIGRSPSKMEEPÍQHITVSHY^MVRSZEWVIPEËÙIWHI XVEFEPLS QEMWMRXIRWMZEWIQ EPKYRWGEWSW WÇSI\XVIQEQIRXIWIPIXMZEWIQ WYEWI\MKÎRGMEWUYERXSÄJSVQEËÇSHIUYEHVSWXÍGRMGSWETXSWESI\IVGÑGMSHEW EXMZMHEHIWXÍGRMGEWHIEPXSRÑZIP EW MRHYWXVMEMW HI EPXE XIGRSPSKME IWXÇS JE^IRHS IQIVKMV JSVQEW HIWGIRXVEPM^EHEWHIEXMZMHEHIWJMRERGIMVEWGSQIVGMEMWIHIKIWXÇSXIVVMXSVMEP EWMRHÞWXVMEWHIEPXEXIGRSPSKMEIWXÇSMRXVSHY^MRHSYQEQSHEPMHEHIHI LMIVEVUYMEIWTEGMEPHSTVSGIWWSHITVSHYËÇSETEVXMVHELMIVEVUYMESVKERM^E GMSREPIMRJSVQEGMSREPHEWVIPEËÙIWXVERWEGMSREMWIRXVIIWJIVEWMRXIVEHQMRMW XVEXMZEW IMRXVEHQMRMWXVEXMZEW HI WYEW IQTVIWEW 3 MRWYQS HIWWEW VIPEËÙIW XVERWEGMSREMWÍSGSRLIGMQIRXSGMIRXÑJMGSNÅQIRGMSREHSEGMQEUYIXIRHIE WIVWSGMEPM^EHSIQKVERHIIWGEPETEVETIVQMXMVEWYTIVEËÇSHSWQIVGEHSWJPY XYERXIW SEYQIRXS IHMZIVWMJMGEËÇSHITVSHYXSWI XEQFÍQEQTPMEËÇSHI QIVGEHSWIHEWVIHIWHIVIPEËÙIWGSQIVGMEMWIJMRERGIMVEWHEWIQTVIWEWHIEPXE XIGRSPSKME SWMRZIWXMQIRXSWIWXEXEMWHITIWUYMWEIHIWIRZSPZMQIRXSGSRWXMXYIQ E VIXEKYEVHE HIWSFVIZMZÎRGMEXIGRSP×KMGEIGMIRXÑJMGEHSWKVERHIWPEFSVEX× VMSW HITIWUYMWEIIQTVIWEWHIEPXEXIGRSPSKMEEPÍQHEKEVERXMETEVEEGSRWS PMHEËÇSHIRSZSWQIVGEHSWWYTVEREGMSREMWIUYIFVEÄWFEVVIMVEWEPJERHIKÅVMEW TEVESWRSZSWTVSHYXSWHII\TSVXEËÇSRSI\XIVMSV SW MRZIWXMQIRXSWIWXEXEMWHITIWUYMWEI HIWIRZSPZMQIRXS IQ EPXE XIGRSPSKMEIWXÇSWIVIHMVIGMSRERHSIWIGSRGIRXVERHSIQXIVQSWVIKMSREMW EXVEZÍW HEJSVQEËÇS HSWKVERHIW XIGRST×PSWHITVSHYËÇSMRHYWXVMEP SUYI IWXMQYPEIQVIPEËÇSÄWXVEHMGMSREMWVIKMÙIWQIXVSTSPMXEREWSJIRØQIRSWHE HIWMRHYWXVMEPM^EËÇS XIVVMXSVMEP VIPEXMZE RS &VEWMP IWWI TVSGIWWS TSHI WIV HIWMRHYWXVMEPM^EËÇS TSHI WIV IRGSRXVEHE RS PMZVS HI &%66= &09)7832) I &)22)88 ,%66-732 8LI (IMRHYWXVMEPM^EXMSR SJ%QIVMGE I 8YHS PIZE E GVIV UYI EW GSRGPYWÙIW I\EKIVEHEQIRXI SXMQMWXEW IQ VIPEËÇS Ä GSRXMRYMHEHI HS EYQIRXS HEW EXMZMHEHIW TVSJMWWMSREMW XÍGRMGEW SY HEW SGYTEËÙIW GMIRXÑJMGSXÍGRMGEW RS TIVÑSHS EXYEP GSQS ERXIZMY (%2- )0 &)00 WIY PMZVS 3 %HZIRXS HE 7SGMIHEHI 4×W MRHYWXVMEP WÇS GSRGPYWÙIW VIPEXMZEQIRXI TVIGMTMXEHEW I UYI RÇS TSWWYIQ S QIRSV WMKRMJMGEHS LSNI MWWS XEQFÍQ Í IZMHIRGMEHS TSV (%: -( 0=3 2 IQ WIY PMZVS 8LI -RJSVQEXMSR 7SGMIX] UYERHS GMXE E GVÑXMGE HI ',%60)7 .327',)6 WSFVI IWXEW HIHYËÙIW HI &)00 3 GVIWGMQIRXSHIGIVXSW UYEHVSW XÍGRMGSW IQ EPKYQEW PSGEPMHEHIW TEVIGI WYWGMXEV XEQFÍQ IZMHÎRGME HS JIRØQIRS HI QSFMPMHEHI XÍGRMGE IRXVI IWTEËSW QEMW HS UYI E JSVQEËÇS HI RSZEW SGYTEËÙIW XÍGRMGSTVSJMWMSREMW SY GMIRXÑJMGSXÍGRMGE 3 TVSFPIQE TVMRGMTEP TEVIGI GSRWMWXMV IQ UYI EPKYRW EYXSVIW MRWMWXIQ IQ VIZIPEV YQE ETEVIRXI EYXSRSQME HS WIXSV HI WIVZMËSW GSRGIFMHS TSV '3082 '0%6/ IQ WIY PMZVS 'SRHMXMSRW SJ )GSRSQMG 4VSKVIWW 0SRHVIW IQ VIPEËÇS Ä QERYJEXYVE I EWWMQ ETVIWIRXEQ S GVIWGMQIRXS ZIVMJMGEHS RS WIXSV HI WIVZMËSW G SQ S MRXIMVEQIRXI HIWZMRGYPEHS HS WIXSV TVSHYXMZS EXVMFYMRHS TVSTSVGMSREPQIRXI ES GVIWGMQIRXS ZIVMJMGEHS RS WIXSV HI WIVZMËSW MHÎRXMGS TIWS TEVE E JSVQEËÇS HI EXMZMHEHIW XÍGRMGS TVSJMWWMSREMW GMIRXÑJMGSXÍGRMGEW S UYI VIHYRHE IQ YQ KVERHI IUYÑZSGS QIXSHSP×KMGS I XI×VMGS SFWIVZEHS UYERHS WI I\EQMRE E TEVXI VIPEXMZE ES ZEPSV HE XVERWJSVQEËÇS MRHYWXVMEPIRXVIEVIKMÇSQIXVSTSPMXEREHI 7ÇS4EYPSUYIETVIWIRXSYIRXVI IGVIWGMQIRXSRIKEXMZSIRUYERXSSMRXIVMSVHI7ÇS4EYPS RS QIWQS TIVÑSHS ETVIWIRXSY YQ GVIWGMQIRXS TSWMXMZS HI NÅ E VIKMÇS QIXVSTSPMXERE HS 6MS HI .ERIMVS XEQFÍQ RS QIWQS TIVÑSHS ETVIWIRXSYYQGVIWGMQIRXSRIKEXMZSHI )RXVIXERXSRSWTEÑWIWHIWIRZSPZMHSWÄQIHMHEUYIKVERHIWMRZIWXMQIR XSW HS4 ( IWXÇSSVMIRXEHSWTEVE ETVIWIVZEËÇSHSTVSKVEQE HI HIJIWE IWTEGMEPEWWMWXIWIXEQFÍQIQGSRXVETEVXMHESEYQIRXSHEGVMWIGSRXIQ TSVÆRIEHSHÍJMGMXTÞFPMGSSVËEQIRXÅVMSIJMRERGIMVSHSW)WXEHSW9RMHSW 2S.ETÇS STVSGIWWSHIMQTPERXEËÇSHEWMRHÞWXVMEWHIEPXEXIGRSPSKME JSM EVXMGYPEHS WSF TVMRGÑTMSW QEMW GSRZIRGMSREMW JSVXEPIGIRHS S ÑQTIXS XVEHMGMSREP HITVSHYËÇSHIQIVGEHSVMEWTEVEEKIRIVEPM^EËÇS HSGSRWYQS EQTPMEËÇS HI QIVGEHSW HMZIVWMJMGEËÇS HI TVSHYXSW SY WINE KEVERXMV E VITVSHYËÇSHSGETMXEPHSXIVVMX×VMS 3FSSQ IGSRØQMGSIXIGRSP×KMGSNETSRÎWTEVIGIXEQFÍQ XIVWMHSYQ VIWYPXEHSHSTVIIRGLMQIRXSQSQIRXÆRISHEWPEGYREWHSGSQÍVGMSI\XIVMSV HSW)WXEHSW9RMHSWRETVSHYËÇSHITVSHYXSWIQMRMEXYVM^EËÇSHIIUYMTE QIRXSWIPIXVSIPIXVØRMGSW 8IRHSIQ ZMWXETVMRGMTEPQIRXIUYIS.ETÇS WI ZMY HYVERXISTIVÑSHSHST×WKYIVVE MQTIHMHSHITVSHY^MVEVQEQIRXSWI EVXIJEXSWFÍPMGSWEWVIWXVMËÙIWMQTSWXEWES.ETÇSIE6*%IEENYHEJMRER GIMVEEQIVMGEREETEVIRXIQIRXIVIHMVIGMSREVEQSWMRZIWXMQIRXSWHITIWUYMWEI XIGRSPSKMETEVEEEXMZMHEHIMRHYWXVMEP 2EEXYEPIXETEHST×WJSVHMWQSSI\IQTPSQEMWJSVXIUYIEIGSRSQME NETSRIWEIWXÅPIKERHSTEVESWTEÑWIWGETMXEPMWXEWHSSGMHIRXIÍSHEGSSTIVE ËÇSXÍGRMGEIRXVIEWIQTVIWEW %W VIPEËÙIW XVERWEGMSREMW MRWXMXYÑHEW WSFS WMKRS HE IUYEPM^EËÇS HETIVJSVQERGI MRXIVMRHYWXVMEP TIVQMXIQ E XVSGE HI GSRLIGMQIRXSW GMIRXÑJMGSW I WSGMEPM^EËÇS HI MRZIWXMQIRXSW HI VMWGS IQ TIWUYMWEIXIGRSPSKMEIRXVIEWMRHÞWXVMEWHSWIXSVHIEPXEXIGRSPSKME %SUYITEVIGISGSRXIÞHSP×KMGSHIWWEIWXVEXÍKMEXIGRSP×KMGEKPSFEPHI VIIWXVYXYVEËÇSMRHYWXVMEPHSGETMXEPMWQSÍEVITVSHYËÇSEQTPMEHEHSGETMXEP RSIWTEËS IE VIKYPEËÇS HSW VIKMQIW HI EGYQYPEËÇS EXVEZÍW HS JSVXEPIGM 7IKYRHS0=32(STGMXTMPYHIQWIEUYIPIWUYIZÎIQRSGETMXEPMWQSNETSRÎW SI\IQT PS HS JYXYVSHIWINEHSTIPE LYQERMHEHITSMW S GYWXS HE QSHIVRM^EËÇS XIQ WYE SVMKIQ RS EYQIRXS HE NSVREHE MRXIRWMZE HI XVEFEPLS RE VIHYËÇS TYFPMGE HS PE^IV RS TVSGIWWS HI MWSPEQIRXS IWTIGMEPQIRXI HE QYPLIV IXG %TEVIRXIQIRXI RE EXYEPMHEHI WSQIRXI YQE TIUYIRE TVSTSVËÇS HE TSTYPEËÇS NETSRIWE GIVGE HI HI EGSVHS GSQ YQE VIGIRXI TIWUYMWE HI STMRMÇS EGVIHMXE UYI SJYXYVS TSHI WIV ZMWXS GSQ S FVMPLS UYI PLI Í TVIJMKYVEHS QIRXS HEGSQTIXMXMZMHEHI I HS EPEVKEQIRXS HIWMKYEPI IJIXMZS HEGSRGSV VÎRGMETSVRSZSWQIVGEHSWXVERWREGMSREMW 2S&VEWMPERSZEGSRJMKYVEËÇSXIVVMXSVMEPHEMRHÞWXVMEXIQQIVIGMHSE EXIRËÇSHIMRÞQIVEWTIWUYMWEW )QEPKYQEWHIWWEWTIWUYMWEWLÅYQEXIR HÎRGMETEVEWIQSPHEVEYQHSWXVÎWKVERHIWIRJSUYIWXI×VMGSW EXVERWTPE RXEGMSRMWXEFZSPYRXEVMWXERISGPÅWWMGSGXIPISP×KMGS %W TVMRGMTEMWGEVEGXIVÑWXMGEW UYI WITSHISFWIVZEVHIWWI XVÎW KVERHIW IRJSUYIWWÇS ESXVERWTPERXEGMSRMWQSÍYQIRJSUYIXI×VMGSUYIXIRHIERIKPMKIRGMEV EIWTIGMJMGMHEHIITEVXMGYPEVMHEHIHSWGMVGYMXSWIWTEGMEMWHITVSHYËÇSRSXIVVM X×VMS MHIRXMJMGERHS JYRËÙIWEVXMGYPEËÙIWIWXVYXYVEWHMRÆQMGEWJIRØQIRSW ITVSGIWWSWMRHMJIVIRGMEHEQIRXIIQUYEWIXSHEWEWJSVQEËÙIWIGSRØQMGEW IWTEGMEMW FS ZSPYRXEVMWQSRISGPÅWWMGS XVEXEWI HS IRJSUYI UYI WI FEWIME RE HSYXVMRERISGPÅWWMGEIGSRØQMGEUYIXIQTVSGYVEHSVIZIPEVIRJEXMGEQIRXIE MQTSVXÆRGMEHEZSRXEHIHSWEXSVIWTSPÑXMGSWHEWSGMIHEHIGMZMPMRWXMXYMËÙIW HITIWUYMWEIQTVIWÅVMSWTPERINEHSVIWKIWXSVIWHIXIGRSPSKMEIKSZIVRERXIW RS TVSGIWWS HIGMW×VMS TEVE E GSRWSPMHEËÇS HSW T×PSW XIGRSP×KMGSW I HSW GMVGYMXSWIWTEGMEMWHITVSHYËÇSRSXIVVMX×VMS7IKYRHSSWVITVIWIRXERXIWHIWWI IRJSUYIIWWE JSVËETSPÑXMGETSHIWIETVSTVMEVHIZERXEKIRWTVIIWXEFIPIGMHE TIPETVIWIRËEHIGETMXEPQIVGEHSTVIËSIVIRHEGSQSJYRHEQIRXSHIGMWMZS TEVEGSRWXVYËÇSHIRSZEWIWXVYXYVEWIWTEGMEMWRSXIVVMX×VMS G S XIPISPSKMWQS IWXI IRJSUYI TVSGYVE VIZIPEV E TVII\MWXÎRGME HI JEXSVIWHIGMW×VMSWIWXVEXÍKMGSWIKISTSPÑXMGSWREHIXIVQMREËÇSHEMRWGVMËÇS HSW JIRØQIRSW RS IWTEËS 7IKYRHS WIYW TVIGYVWSVIW EW VIHIW XÍGRMGEW GSRWXMXYÑHEWRSXIVVMX×VMSWÇSSTVSHYXSKISTSPÑXMGSHEMRXIRGMSREPMHEHITVÍ ZMEHIYQWYNIMXSEFYVKYIWMEREGMSREPISWQMPMXEVIWUYITVÍIWXEFIPIGIE TEVXMV HI YQ KVERHI TVSNIXS TSPÑXMGS YQE IWXVEXÍKME KISTSPÑXMGE I YQ GSRNYRXSHIVIPEËÙIWTSPÑXMGEWRSIWTEËS4EVEIWWIWEYXSVIWEJSVQEËÇSHEW RSZEW VIHIW XÍGRMGEW HS IWTEËS VITVIWIRXEQ HS TSRXS HI ZMWXE P×KMGS S %PKYRW EYXSVIW XÎQ VIWWEPXEHS EW MRJPYÎRGMEW MRGSVTSVEHEW TSV WIXSVIW TVSHYXMZSW HI WIY TEÑW HI SVMKIQ E TEVXMV HI GIVXSW EXVMFYXSW GSQTEVEXMZSW TVSZIRMIRXIW HS GSQTSVXEQIRXS HE IGSRSQME I HEW IQTVIWEW NETSRIWEW HIRSQMRERHSEW HI NETSRI^EËÇS HE IGSRSQME WIQ SFWIVZEV UYI IWXI GSQTSVXEQIRXS JE^TEVXI HS RSZS QSHIPS XIGRSP×KMGSMRWXMXYGMSREP QEMW KIVEP HIWIRZSPZMHS TIPS EXYEP TIVÑSHS T×WJSVHMWXE TEVE E VIEPM^EËÇS EQTPMEHE HS GETMXEP % EPYWÇS ESW TVSGIHMQIRXSW EUYMGVMXMGEHSWTSHIWI GSRWXEXEVIQ&09)7832) & I,%66-732&UYERHSXVEXEQHE.ETSRI^EËÇSHE)GSRSQME%QIVMGERETT S GEWS HSW XVEFEPLSW IJIXYEHSW TSV &)'/)6 & I )+0)6 ' WSFVI 3 )QFVMÇS HS 4VSNIXS +ISTSPÑXMGS HE 1SHIVRMHEHI 3 :EPI HS 4EVEÑFE I WYEW 6EQMJMGEËÙIW HS MQTSVXERXI XVEFEPLS HI (6390)67 1 WSFVI 0IW 4ØPIW 8IGLRSPSKMUYIW &VÍWMPMIRW HERW 03V F MXI 1ÌXVSTSPMXEMRI I HS XVEFEPLS HI 1)()-637 . % 3W 4×PSW 8IGRSP×KMGSW &VEWMPIMVSW 0MQMXIW I (IWHSFVEQIRXSW TVSHYXSHIIWXVEXÍKMEWHIQIVGEHSTVSHYËÇSHMWXVMFYMËÇSEVXMGYPEËÇSTVSXI ËÇS TSPÑXMGE PSGEPM^EËÇS TSWWMFMPMHEHIW IQ XIVQSW HI I\TERWÇS GVIWGM QIRXSMVVEHMEËÇSIHMWWIQMREËÇSIHIGSRHMËÙIWMRXVÑRWIGEWTVIIWXEFIPIGMHEW HMWTSRMFMPMHEHIXVEHMËÇSJSVQEËÇSLMWX×VMGEIGSRGIRXVEËÇS )WWEWTIWUYMWEWRS&VEWMPMREYKYVEVEQYQTIVÑSHSIQ UYISWTSVXE ZS^IWHIWWEWXVÎWZIVXIRXIWXI×VMGEWEMRHERÇSXMRLEQYQETVISGYTEËÇSWSFVI E P×KMGE GETMXEPMWXE HSW TVSGIWWSW UYI MQTYPWMSREVEQ E6IIWXVYXYVEËÇS HE -RHÞWXVMERS8IVVMX×VMSMRJPYIRGMEHSWTIPSW WIKQIRXSWMRJSVQEËÇSGMÎRGMEI XÍGRMGE )WXE TVISGYTEËÇS XIQ WMHS E FEWI TEVE JSVQYPEËÇS HSW XVEFEPLSW HI TIWUYMWEWUYIIWXEQSWHIWIRZSPZIRHS &-&0-3+6%*-% %+0-)88% 1 ;SVPH 'ETMXEPMWQ MR )MKLXMIW 2I[ 0IJX 6IZMI[ 2S Z(IG &)00 ( 3 %HZIRXS HE 7SGMIHEHI 4×WMRHYWXVMEP 7ÇS 4EYPS 'YPXVM\ &)62%0 . ( 'MÎRGME RE ,MWX×VME 0MWFSE 0MZVSW ,SVM^SRXI 0XHE :SP :-- &)'/)6 & I )+0)6 3 )QFVMÇS HS 4VSNIXS +ISTSPÑXMGS HE 1SHIVRMHEHI 6MS HI .ERIMVS 0EKIX9*6. &09)7832) & I ,%66-732 & 8LI (IMRHYWXVMEPM^EXMSR &EWMG &SSOW -RG 4YFPMWLIVW SJ%QIVMGE 2I [ =SVO & 6)7 7% 2 ( % I (-780)6 ' 3 1YRHS HI %QERLÇ 0MWFSE 4YFPMGEËÙIW (SQ 5YM\SXI &6-83 4 3 'SQTYXEHSV 7IQ 1MWXÍVMW TYFPMGEHS RE 6IZMWXE 'MÎRGME MPYWXVEHE )H %FVMP %RS -- I ' %78 )007 1 ,MKL 8IGLRSPSK] 7TEGI ERH 7SGMIX] &IZIVP ] ,MPPW 7 EKI 4YFPMGEXMSRW 9VFER %JJEMV %RRYEP 6IZMI[W :SP '0%6/ ' 'SRHMXMSRW SJ )GSRSQMG 4VSKVIWW 0SRHVIW (6390)67 1 0IW 4ØPIW 8IGLRSPSKMUYIW &VÍWMPMIRW HERW 03VFMXI 1ÍXVSTSPMXEMRI MR 0IW %RREPIW HI 0E 6IGLIVGLI 9VFEMRI 1EVW%ZVMP )0090 . % 8ÍGRMGE I S (IWEJMS HS 7ÍGYPS 7ÇS 4EYPS )HMXSVE 4E^ I 8IVVE *%9783 6 IQ % 4×W+VERHI -RHÞWXVME RSW +VYRHVMWWI I TEVE %PÍQ (IPIW 6IZMWXE 0YE 2SZE 7ÇS 4EYPS RSZIQFVS *) 0(1%2 1 1 % &MSXIGLRSP SK] ERH 0SGEP )GSRSQMG +VS[XL 8LI %QIVMGER 4EXXIVR MR ,%00 4 I 1%6/ 97)2 % )HW 7MPMGSR 0ERHWGETI &SWXSR %PPIR 9R[MR +%9>2)6 2 3 'ETMXEPMWQS I EW 'SRWIUàÎRGMEW HE 6IZSPYËÇS 8ÍGRMGS'MIRXÑJMGE 0MWFSE )HMXSVMEP )WXEQTE 7 +-(()27 % 7SGMSPSKME YQE FVIZI TSVÍQ GVÑXMGE MRXVSHYËÇS 6MS HI .ERIMVS >ELEV )HMXSVIW +6%17'- % 3FVEW )WGSPLMHEW 7ÇS 4EYPS 1EVXMRW *SRXIW ,%00 4 I 1%6/97)2 % )HW ,MKL 8IGL %QIVMGE &SWXSR %PPIR 9R[MR 0-4-)8> % 8LVII 'VMWIW 1IXEQSVTLSWIW SJ 'ETMXEPMWQ ERH 0EFSYV 1SZIQIRX MR +388(-)2)6 1 'ETMXEPMWX (IZIPSTQIRX ERH 'VMWIW 8LISV] %GGYQYPEXMSR 6IKYPEXMSR ERH 7TEXMEP 6IWXVYGXYVMRK 0SRHSR 1EGQMPPER 0-4-)8> % I 0)&36+) ( 3 4×W*SVHMWQS I WIY )WTEËS )WTEËSW (IFEXIW 7ÇS 4EYPS 09<)1&96+ 6 % %GYQYPEËÇS HS 'ETMXEP 7Ç S 4EYPS 2SZE 'YPXYVEP 'ET <<<-- 3 1MPMXEVMWQS GS QS (SQÑRMS HE %GYQYPEËÇS HS 'ETMXEP 0=32 ( 8LI -RJSVQEXMSR 7SGMIX] 2I [ =SVO 4SPMX] 4VIWW 0=38%6( . * % 'SRHMËÇS 4×W1SHIVRE 0MWFSE )H +VEHMZE 1%+(3** , % IVE HS -QTIVMEPMWQS 7ÇS 4EYPS )HMXSVE ,YGMXIG 1 % 6/ 9 7 ) 2 % I &03', 6 (IJ IRWMZ I 'MXM IW 1MPMXEV] 7T IRHMRK ,MKL 8 IG LRS PSK ] ERH ,YQER 7IXX PIQIRXW MR '%78)007 1 ,MKL 8IGLRSPSK] 7TEGI ERH 7SGMIX] &IZIVP] ,MPPW 7EKI 4YFPMGEXMSRW 1 %6 < / )PIQIRXSW *YRHEQIRXEPIW TEVE PE 'VÑXMGE HI PE )GSRSQME 4SPÑXMGE +VYRHVMWWI 1 Í\ M G S 7M K PS :IMRXMYRS )HMXSVIW 7% E )HMGM×R :SP -- 8ISVMEW HE 1EMW:EPME 7ÇS 4EYPS )H 'MZMPM^EËÇS &VEWMPIMVE :SP 0 1'2)-0 ; , 0E FYWUYIHE HS 4SHIV 8IGRSPSKMEJYIREW EVQEHEW ] WSGMIHEH HIWHI IX % ' 7 MK PS :IMRXMYRS )HMXSVIW 7% 1)7>¥637 - 4VSHYËÇS (IWXVYXMZE I )WXEHS 'ETMXEPMWXE 7ÇS 4EYPS )HMXSVE )RWEMS 1)()-637 . % 3W 4×PSW 8IGRSP×KMGSW &VEWMPIMVSW 7ÇS 4EYPS -)%974 2%-7&-88 . 1IKEXVIRHW 2I[ =SVO ;EVRIV &SSOW 2):-27'311%+)6 ,MWX×VME 6IWYQMHE HSW )WXEHSW 9RMHSW 7ÇS 4EYPS )HMXSVE %PJE ØQ I K E 4-6)7 , * %PXE 8IGRSPSKME (MZMWÇS HS 8VEFEPLS I 6IIWXVYXYVEËÇS 8IVVMXSVMEP 7EPZEHSV %REMW HS :--- )RGSRXVS 2EGMSREP HSW +I×KVEJSW E HI .YPLS HI 3 %HZIRXS HE 'MHEHI -RJSVQEGMSREP %REMW HS - )RGSRXVS 6IKMSREP HI )WXYHSW +ISKVÅJMGSW 6IGMJI %+&7IËÇS 6IGMJI*92(%6.9*4) E HI .ERIMVS HI 6%8>)0 * 3 7SPS S )WXEHS I E 7SGMIHEHI 7ÇS 4EYPS6IZMWXE HS (ITEVXEQIRXS HI +ISKVEJME 7ÇS 4EYPS **0',974 6-',8% 6 )GSRSQME 7SGMEPMWXE I 6IZSPYËÇS 8IGRSP×KMGE 7Ç S 4EYPS )HMXSVE 4E^ I 8IVVE 637>%/ 8 'YPXS Ä -RJSVQEËÇS 7ÇS 4EYPS )HMXSVE &VEWMPMIRWI 7%2837 1 3 1IMS 8ÍGRMGS'MIRXÑJMGS I E 9VFERM^EËÇS RS &VEWMP )WTEËS (IFEXIW 7Ç S 4EYPS 7 %2837 8 6IZSPYËÇS 'MIRXÑJMGS8ÍGRMGE .ERIMVS )HMXSVE :S^ IW I 'ETMXEPMWQS 'SRXIQTSVÆRIE 6MS HI 7 %<)2-%2 % 8LI +ÎRIWMW SJ 7MPMGSR :EPPI] MR ,%00 4 ERH 1%6/ 97 )2 % 7MPMGSR 0ERHWGETI &SWXSR %PPIR 9R[MR 7'388 % . I 1-',%)0 7 -RHÞWXVME HI %PXE 8IGR SPSKME I (IWI RZSPZM QIRXS 6IKMSREP 9QE 'VÑXMGE I 6IGSRWXVYËÇS 8I×VMGE )WTEËS I (IFEXIW 7 ÇS 4EYPS 7-0:% % ' 3 'ETMXEP 8ÍGRMGS I S )WTEËS 7ÇS 4EYPS &SPIXMQ 4EYPMWXE HI +ISKVEJME %+&7ÇS 4EYPS 7SJX[EVI I :EPSV 7 ÇS 4EYPS **0',974 +ISKVEJME 8I\XS EMRHE MRÍHMXS 73.% ) 136%0)7 6 I ;30** + 6IWXVYXYVMRK MR XLI 0SW %RKIPIW MR 6-',%6( 4))8 6 -RXIVREXMSREP 'ETMXEPMWQ ERH -RHYWXVMEP 6IWXVYXYVMRK 1EWW %PPIR 9R[MR 83**0)6 % 8LI 8LMVH ;EZI 2I [ =SVO &ERXEQ &SSOW 831 %2)= . 8LI 6IEPMX] SJ ;SVOTPEGI *PI\MFMPMX] MR 'ETàEP 'PEWW 7TVMRK 8396%-2) % % 7SGMIHEHI 4×WMRHYWXVMEP 0MWFSE )H 1IPLSVEQIRXSW 86-40)6 4 % % *ÑWMGE HSW 1EXIVMEMW 6MS HI .ERIMVS )H +YEREFEVE (SMW 7% 6)7913 3 EVXMKS I\EQMRE EW QIXEQSVJSWIW XIGRSP×KMGEW HS GETMXEPMWQS I WYE EVXMGYPEËÇS GSQ E XVERWJSVQEËÇS HE GMÎRGME IQ YQE JSVËE TVSHYXMZE 2IWXEW QIXEQSVJSWIW E GMÎRGME IRUYERXS WEFIV WSGMEP EGYQYPEHS I E EPXE XIGRSPSKME TVSTMGMEQ E JSVQEËÇS HI IWXVEXÍKMEW TEVE S IWXEFIPIGMQIRXS HI GSRHMËÙIW HIWMKYEMW HI GSRGSVVÎRGME RS TVSGIWWS HI TVSHYËÇS IRXVI IWTEËSW UYI IWXMQYPEQ E JSVQEËÇS HI MRWGVMËÙIW XIVVMXSVMEMW I KPSFEMW HI TIVJSVQERGIW TVSHYXMZEW GETE^IW HI VIHIJMRMVIQ S GSRNYRXS HI WYEW VIPEËÙIW HI TVSHYËÇS *MREPQIRXI TVSGYVE VIZIV EW HMJIVIRXIW QEXVM^IW XI×VMGEW UYI WI EXMZIVEQ GSQ E MRWYVKÎRGME LMWX×VMGE HSW TVSGIWWSW HI MRHYWXVMEPM^EËÇS I HIWMRHYWXVMEPM^EËÇS UYI TVSQSZIVEQ E VIHIJMRMËÇS HE IWXVYXYVE TVSHYXMZE XIVVMXSVMEP I HI WYEW VIPEËÙIW HI XVEFEPLS RS GETMXEPMWQS EXYEP %&786%'8 8LMW TETIV I\EQMRIW XLI GETMXEPMWQ XIGLRSPSKMGEP QIXEQSVTLSWIW ERH XLIMV EVXMGYPEXMSR [MXL XVERWJSVQEXMSR SJ WGMIRGI MRXS E TVSHYGXMZI JSVGI -R XLIWI QIXEQSVTLSWIW XLI WGMIRGI [LMPI EGGYQY PEXMRK WSGMEP ORS[PIHKI ERH XLI LMKL XIGLRSPSK] TVSZMHI WXVEXIKMIW JSVQEXMSR XS XLI IWXEFPMWLQIRX SJ YRIZIR GSQTI XMXMSR GSRHMXMSRW MR XLI TVSHYGXMSR TVS GIWW FIX[IR WTEGIW WXMQYPEXMRK XLI IQIV KIRG] SJ XIVVMXSVMEP ERH KPSFEP JSVQW SJ TVSHYGXMZI TIVJSVQERGI 8LMW TIVJSV QERGI MW EFPI XS VIWXVYGXYVI XLI WIX SJ MXW TVSHYGXMZI VIPEXMSRW *MREPP] MX MW VI ZMI[IH XLI HMJJIVIRX XISVMGEP ETTVSEGLIW XLEX LEZI MRXIVTVIXIH XLI LMWXSVMGEP MRWYV KIRG] TVSGIWWIW SJ MRHYWXVMEPM^EXMSR ERH XLI PIWWIRMRK SJ MRHYWXVMEPM^EXMSR [MGL TVSQSXIH XLI VISVKERM^EXMSR SJ XLI XIVVMXSVMEP TVSHYGXMZI WXVYGXYVI ERH MXW [SVOMRK VIPEXMSRW MR RS[HE]W GETMXEPMWQ 4EPEZVEWGLEZI QIXEQSVJSWIW XIGRSP×KMGEW HS GETMXEPMWQS EPXE XIGRSPSKME VIIWXVYXYVEËÇS XIVVMXSVMEP VIZSPYËÇS XÍGRMGSGMIRXÑJMGE GMÎRGME T×WJSVHMWQS T×W MRHYWXVMEP GMHEHI MRJSVQEGMSREP XIGRST×PS QIMS XÍGRMGSGMIRXÑJMGS GETMXEP XÍGRMGS /I] [SVHW GETMXEPMWQ XIGLR SPSKMGEP QIX EQ SVTLSWIW LMKL XIGL RSPS K] XIVVMXSVMEP VISVKERM^EXMSR XIGLRSWGMIRXMJMG VIZSPYXMSR WGMIRGI TSWXJSVHMWQ TSWX MRHYWXVMEP MRJSVQEXMSREP GMX]XIGLRSTSPMIW XIGLRSWMGIRXMJMG QMPMIY XIGLRMGEP GETMXEP
Documentos relacionados
Barão do Rio Branco
UYEPMHEHI(SXVMFYXSHS4VIWMHIRXI.YPMS1EVÑE7ERKYMRIXXMESTETIP HI 6MS &VERGS RE HIJMRMËÇS HSW PMQMXIW IRXVI &VEWMP I 9VYKYEM EXÍ S IRWEMS HI 7]RIWMS 7EQTEMS WSFVI EW UYIWXÙI...
Leia maisLEMBRETE... SANEAMENTO NO BRASIL
2EGMHEHIHI'EQTMREW)WXEHSHI7ÇS4EYPSRSERSHIYQE TVSTSWXEHSIRKIRLIMVS.SVKI,EVVEXZIRGIYEGSRGSVVÎRGME EFIVXETEVEGSRWXVYMVIEFEWXIGIVGLEJEVM^IWRSGIRXVSHEGMHEHI %ÅKYE...
Leia maisUntitled - Agrosecurity
?AS)WXEHSXIQPMHSMRGSVVIXEQIRXISWHMZIVWSWWMREMWHEWXVERWJSVQEËÙIWIQGYVWSS UYIXIQVIWYPXEHSIQMRMGMEXMZEWIVVÅXMGEWYWYEPQIRXIVIWYPXERXIWHEGSRJYWÇSHIVEGMS
Leia mais