Guide du repreneur en région Languedoc-Roussillon
Transcription
C<>L@;< ;LI<GI<E<LI;Ë<EKI<GI@J< <EC8E>L<;F:$IFLJJ@CCFE y[`kf I\e[i\c\CXe^l\[fZ$Ifljj`ccfegifjg i\ CË\dgcf`\jkefki\gi`fi`kXYjfcl\%<kcË\eki\gi`j\# XlZÅli[ljpjk d\Zfefd`hl\i^`feXc# \jkcXgi`eZ`gXc\jfliZ\[Ë\dgcf`%Efki\[\mf`i\jk [ËXZZfdgX^e\icXi\gi`j\\kcXkiXejd`jj`fe[Ë\eki\gi`j\# Zfdd\eflj\ejflk\efejcXZiXk`fe%:\kk\i^`fe# df`ejhlËXlZle\Xlki\#e\g\lkjËf]]i`ic\clo\[\cX`jj\i [`jgXiXki\c\jXmf`i$]X`i\`e[ljki`\c\kZfdd\iZ`Xc]fi^ gXi[\jd`cc`\ij[Ë\eki\gi`j\jXlÔc[\jXee\j% C\j\ea\lojfekZfej`[iXYc\j1cXkiXejd`jj`fe \kcXi\gi`j\ZfeZ\ie\ifek)''''\eki\gi`j\j [Xejc\j[`ogifZ_X`e\jXee\j\k(+'''\dgcf`j [Xejc\jZ`ehXej~m\e`i8`ej`#cXeflm\cc\gfc`k`hl\ i^`feXc\#[fekc\jdfp\ejYl[^kX`i\jfekk ki jcXi^\d\ekXl^d\ekj#Zfdgi\e[le[`jgfj`k`] ^cfYXc[ËX`[\~cXi\gi`j\#~cXkiXejd`jj`feZfdd\ ~cXZiXk`fe1c\G8:K<#mi`kXYc\gif^iXdd\[ËXggl` \ek\id\j[\[m\cfgg\d\ekZfefd`hl\\k[\ ]fidXk`fegif]\jj`fee\cc\%:feZi k\d\ek#cXI^`fe ZfejXZi\((%,d`cc`fej[Ë\lifjgXiXe~cXZiXk`fe \k~cXkiXejd`jj`feg\id\kkXek[\ÔeXeZ\i[`i\Zk\d\ek [\jgifa\kj[Ë\eki\gi`j\j\k[\jjkilZkli\j gif]\jj`fee\cc\jZfejk`klXekc\Ij\Xli^`feXc [ËXZZfdgX^e\d\ek% GX^\+ CËXe[\ie`\i#efljXmfejXZZfdgX^e(/''gifa\kj [Ë\eki\gi`j\jXlk`ki\[\Z\gif^iXdd\%<efi^Xe`jXek c\j( i\j8jj`j\ji^`feXc\j[\cXkiXejd`jj`fe[Ë\eki\gi`j\ c\)0al`e)''-#efljXmfejjfl_X`kgfljj\igcljcf`e efki\XZk`fe\kXggif]fe[`icXZfeZ\ikXk`fe Xm\ZcË\ej\dYc\[\efjgXik\eX`i\jZfefd`hl\j% Gfliigfe[i\XloXkk\ek\j[\jgXik\eX`i\j \k[\j\eki\gi`j\jgij\ekjcfij[\Z\kk\dXe`]\jkXk`fe# efljXmfejiXc`jc\>l`[\i^`feXc[li\gi\e\li% :\^l`[\[f`kmflj[fee\ic\jZcj[l[dXiiX^\ [\mfki\gifa\k\eZcXi`ÔXekc\½gXpjX^\¾ [\jfi^Xe`jd\jXZZfdgX^eXk\lij \k[\jÔeXeZ\d\ekjgflmXekki\dfY`c`jj% C\CXe^l\[fZ$Ifljj`ccfe#j\cfele\\ehlk\iZ\ek\ gXil\[XejledX^Xq`e\Zfefd`hl\!#j\ZcXjj\ Xl(\iiXe^[\ji^`fej]iXeX`j\jgflicXZif`jjXeZ\ [\cXgfglcXk`fe#[\cË\dgcf`#[lG@9\k[\cXgif[lZk`m`k% Áeflj[\kiXej]fid\icË\jjX` Xlj\im`Z\[\cË\dgcf`i^`feXc >\fi^\j=iZ_\# Gij`[\ek[\cXI^`feCXe^l\[fZ$Ifljj`ccfe !JfliZ\1<og\i`Xe9lj`e\jjJkiXk^`\j#gfliCË<ogXej`fe GX^\, JfddX`i\ CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ gX^\(- C\gXiZflij[li\gi\e\li gX^\/ gX^\j(/~*' gX^\j*)~** gX^\*+ C\j^iXe[\jkXg\j[\cXi\gi`j\[Ë\eki\gi`j\ KXYc\XliZXg`klcXk`][\jgi`eZ`gXc\jjkilZkli\j ali`[`hl\j C\jXZk\lij[lIj\Xli^`feXc [ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe \kc\lijgi\jkXk`fej gX^\j*-~*. IZXg`klcXk`][\jd`jj`fej \k[\jgi\jkXk`fejgifgfj\jgXic\jXZk\lij [lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe gX^\j*/~0- =`Z_\jj`^eXck`hl\jgXiXZk\li1 d`jj`fej#YeÔZ`X`i\j#ZfekXZkj gX^\0/ C\jÔeXeZ\d\ekj gX^\j(''~(** =`Z_\j[\gij\ekXk`fe[\jÔeXeZ\d\ekj1 eXkli\#Zfe[`k`fej[ËXkki`Ylk`fe gX^\(*+ >cfjjX`i\ gX^\(*.@e[\o GX^\. (% C8Iy>@FE#:?<=;<=@C< ;L;yM<CFGG<D<EKy:FEFD@HL< ½Efki\i^`fekdf`^e\[Ële\j`klXk`fe^f^iXg_`hl\gi`m`c^`\#[Ële]fik[peXd`jd\ \eki\gi\e\li`Xc\k[Ële]fid`[XYc\gfk\ek`\c[\Zfdgk\eZ\j%:\jfek[\jXkflkj `e[e`XYc\jhlË`c]XlkZfejfc`[\i\k[m\cfgg\i\ek\id\j[\dXiZ_j#[\g\i]fidXeZ\ Zfefd`hl\#[\Zfdgk\eZ\jdfY`c`j\j\k[\Zif`jjXeZ\1jX`j`ic\jfggfikle`kj#afl\i cXhlXc`k#fj\ic\jXZk`m`kjd\i^\ek\j\k`em\jk`i% GXijXgfc`k`hl\mfcfekXi`jk\#cXI^`feCXe^l\[fZ$Ifljj`ccfekXYc`kc\jZfe[`k`fej [Ële\iljj`k\Zfefd`hl\\kk\ii`kfi`Xc\[\kflj#gXikflk#^iZ\~[Ëkif`kj gXik\eXi`XkjXm\Zkfljc\jXZk\lijZfefd`hl\j1~cËZflk\#\cc\X^`kgflihlXc`Ô\i# dfY`c`j\i\kmXcfi`j\ic\j_fdd\j\kc\j]\dd\j[\Z\kk\i^`fe\kgfliZfeeXki\# XZZfdgX^e\i\k[peXd`j\ic\j^iXe[jj\Zk\lijZfefd`hl\j#[feZc\j\eki\gi`j\j \k[feZcË\dgcf`gfliXek`Z`g\i#kflaflij¾% 8ee\$Pmfee\C<;8@E#m`Z\$gij`[\ek\[\cXI^`feCXe^l\[fZ$Ifljj`ccfe#gij`[\ek\[\cX Zfdd`jj`fe;m\cfgg\d\ekZfefd`hl\$I\Z_\iZ_\Æ<dgcf`ÆyZfefd`\jfZ`Xc\\kjfc`[X`i\ GX^\/ gX^\(' CË\eki\gi`j\#dfk\li[l[m\cfgg\d\ekZfefd`hl\ gX^\() CË\ea\lgi`dfi[`Xc[\cXkiXejd`jj`fe$i\gi`j\ gX^\(, LeIj\Xli^`feXc[ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe GX^\0 CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ C8Iy>@FE#:?<=;<=@C< ;L;yM<CFGG<D<EK y:FEFD@HL<Iy>@FE8C CË\ea\lZXg`kXc[l[m\cfgg\d\ek[\cXi^`fe CXe^l\[fZ$Ifljj`ccfegXjj\gXicXZfejfc`[Xk`fe [\j\jXkflkj\kgXicXZiXk`fe[\i`Z_\jj\jeflm\cc\j \k[feZ[\j\dgcf`jhl`cl`dXehl\ek\eZfi\% :\kk\gfc`k`hl\mflcl\gXicË\oZlk`]i^`feXcm\lk `dglcj\ileeflm\chl`c`Yi\\eki\cËZfefd`hl\ \kc\jfZ`Xc1gXijfeJZ_dXi^`feXc[\[m\cfgg\d\ek Zfefd`hl\#J<IM@I#cXI^`feXjjld\\ki\m\e[`hl\ jfeic\[\Zffi[feeXki`Z\[l[m\cfgg\d\ek \edfY`c`jXekcË\ej\dYc\[\jXZk\lijZfefd`hl\j XlYeÔZ\[\j\eki\gi`j\ji^`feXc\j\k[\jgfik\lij [\gifa\k% CË<EKI<GI@J<#DFK<LI ;L;yM<CFGG<D<EKy:FEFD@HL< <e\]]\k#ZË\jkY`\ecË\eki\gi`j\hl`gif[l`kcË\jj\ek`\c [\cXi`Z_\jj\\k[\j\dgcf`j[fekefki\i^`fe XkXekY\jf`eCXd`jj`fe[\cXI^`fe\jkY`\e [ËXZZfdgX^e\i\k[\jk`dlc\iZ\j`e`k`Xk`m\j ~Z_Xhl\jkX[\[\[m\cfgg\d\ek[\cË\eki\gi`j\ \kZ\Xlj\im`Z\[ËlefYa\Zk`]dXa\li1cË\dgcf`% 8lj\`e[l;gXik\d\ek½yZfefd`\\k<dgcf`¾# cX;`i\Zk`fe[l[m\cfgg\d\ek[\j\eki\gi`j\jZfef`k# d\k\eÅlmi\#\kXe`d\c\jgif^iXdd\ji^`feXlo [ËXZZfdgX^e\d\ek[\j\eki\gi`j\j%Le\mXclXk`fe i`^fli\lj\\e\jk]X`k\gfliXaljk\icXgfc`k`hl\i^`feXc\ XloiXc`kjZ_Xe^\Xek\j[ldfe[\Zfefd`hl\% GX^\(' CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ J@OGI@FI@KyJFGyI8K@FEE<CC<J! 1 ( Gclj[\ZiXk`fej\k[\kiXejd`jj`fej [Ë\eki\gi`j\jgi\ee\j C\G8:K<Gif^iXdd\[ËXggl`~cXZiXk`fe \k~cXkiXejd`jj`fe[Ë\eki\gi`j\ gfli1 hlXc`Ô\i\kÔeXeZ\ic\jgifa\kj[\ZiXk`fe \k[\kiXejd`jj`fegik#^XiXek`\\kjlYm\ek`fe % ]fid\icË\eki\gi\e\liXldk`\i [\Z_\][Ë\eki\gi`j\% ) ;\j\eki\gi`j\jgcljZfdgk`k`m\j ~cXZfehlk\[\eflm\XlodXiZ_j C\gif^iXdd\8JKI<8`[\jkiXk^`hl\i^`feXc\ Xlo\eki\gi`j\j XZZfdgX^e\ÔeXeZ` i\d\ek c\[m\cfgg\d\ek[\j\eki\gi`j\ji^`feXc\j\e Zif`jjXeZ\gik#^XiXek`\\kjlYm\ek`fe \egXik\eXi`Xk Xm\Zc\jXlki\jÔeXeZ\lij[\cË\eki\gi`j\% * ;\j\eki\gi`j\jgclj`eefmXek\jgfliki\ gclj[`jZi`d`eXek\jjlic\lidXiZ_ CXI^`feCXe^l\[fZ$Ifljj`ccfejflk`\ek cXZfdgk`k`m`k\kcË`eefmXk`fe[\j\j\eki\gi`j\j gXic\Gif^iXdd\i^`feXc~cË@eefmXk`feGI@ hl`Zfdgi\e[1 c\ÔeXeZ\d\ek[\j]X`jXY`c`kjk\Z_e`hl\ \k&flZfdd\iZ`Xc\[\jgifa\kj# c\ÔeXeZ\d\ek[\gifa\kj[\i\Z_\iZ_\ \k[\[m\cfgg\d\ek\egXik\eXi`XkXm\ZFJ<F# c\jflk`\eXli\Zilk\d\ek[Ë`e^e`\lij98:", \k[\;fZk\lij\ei\Z_\iZ_\98:"/ % ! CË\ej\dYc\[\jX`[\j`e[`m`[l\cc\jd`j\j\e Ålmi\gXicXI^`fe\jkgij\ekjlic\gfikX`c [Ë`e]fidXk`fejnnn%`e]f$\eki\gi`j\jci%]i GX^\(( CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ + Lek\ii`kf`i\i^`feXcXkkiXZk`]gXicXhlXc`k [\j\j`e]iXjkilZkli\jZfefd`hl\j *,'d`cc`fej[Ë<lifjjfekgif^iXddjgfli Zi\ic\j('gi\d` i\jqfe\ji^`feXc\j[ËXZk`m`k\e CXe^l\[fZ$Ifljj`ccfejli.''_\ZkXi\j[\jlg\iÔZ`\ % , ;\j\eki\gi`j\jiXjj\dYc\j [Xej[\jÔc` i\jjkilZkli\jgfliki\gclj g\i]fidXek\j\eCXe^l\[fZ$Ifljj`ccfe \kjlic\jdXiZ_jeXk`feXlo\k`ek\ieXk`feXlo :fekiXkj[\Ôc` i\jgfli]Xmfi`j\i c\jgifa\kjZfcc\Zk`]j\kZffgiXk`]j% - C\jflk`\e~le\½Xlki\Zfefd`\¾1 jfZ`Xc\\kjfc`[X`i\ CXI^`feCXe^l\[fZ$Ifljj`ccfe dfY`c`j\c\gif^iXdd\<JJFIyZfefd`\ jfZ`Xc\\kjfc`[X`i\i^`feXc\ 1c\jjflk`\ej [\cXI^`fejfek[Zc`ejjgZ`Ôhl\d\ek gflijËX[Xgk\i~Z\j\Zk\li\egc\`e½\jjfi¾% CË<EA<LGI@DFI;@8C ;<C8KI8EJD@JJ@FE$I<GI@J< Kifg[Ë\eki\gi`j\jm`XYc\j[`jgXiX`jj\ekXlafli[Ë_l`# ]Xlk\[\i\gi\e\li% CXI^`feCXe^l\[fZ$Ifljj`ccfe#ZfejZ`\ek\[\j\ea\lo Zfefd`hl\j\kjfZ`Xlo[\cXkiXejd`jj`fe[\j \eki\gi`j\j\k[li`jhl\[\[g\i[`k`fe[\jjXmf`ij\k [\jZfdgk\eZ\j#c\liXggfik\[\jigfej\jZfeZi k\j% Le\i\gi`j\X/'[\Z_XeZ\j[\jlim`mi\ c~fle\ZiXk`feeË\eX\edfp\ee\hl\,'% :\jZ_`]]i\jdfeki\ekcË`dgfikXeZ\[\cXkiXejd`jj`fe [XejcXjkXY`c`k[Ëlek`jjlZfefd`hl\% Gfliigfe[i\XlogiZfe`jXk`fejd`j\j[Xej c\jZ_dXi^`feXc[\[m\cfgg\d\ekZfefd`hl\ J<IM@I#\kXloY\jf`ej\ogi`djgXikfljcfij [\j( i\j8jj`j\ji^`feXc\j[\cXkiXejd`jj`fe [Ë\eki\gi`j\#cXI^`feXd`j\eÅlmi\c\[`jgfj`k`] G8:K<Gif^iXdd\[ËXggl`~cXZiXk`fe \k~cXkiXejd`jj`fe[Ë\eki\gi`j\ % GX^\() CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ Hl\mfljjfp\qZ[Xekfli\gi\e\li#Z\gif^iXdd\ mfljXZZfdgX^e\[Xejmfki\gifa\k%@cmfljg\id\k[\1 YeÔZ`\i[ËXZZfdgX^e\d\ek\k[\]fidXk`fe jgZ`Ôhl\j^iZ\~[\jjkilZkli\jjgZ`Xc`j\j# dfY`c`j\ic\jÔeXeZ\d\ekji^`feXlo~Z_Xhl\ jkX[\[\mfki\gifa\k% CXI^`fejflk`\ekc\jgifa\kj[\kiXejd`jj`fe [Ë\eki\gi`j\ ;lZ[Xek KiXej]\ik[\ Zfdgk\eZ\j Xli\gi\e\li C8Iy>@FE=@E8E:< <eki\gi`j\ $jXmf`i$]X`i\ $\dgcf`j $k\ii`kf`i\ $Zlckli\ $ij\Xl Zfdd\iZ`Xc $¿ (% c\jjkilZkli\j [ËXZZfdgX^e\d\ek )%c\gifa\k^cfYXc [\i\gi`j\ *%c\jX`[\jXl i\Zilk\d\ek \kXlZfej\`c +%cX]fidXk`fe [li\gi\e\li Gifa\khlXc`Ô \kgi\ee\ $\eki\gi\e\li $\dgcf`j $jkiXk^`\ [\[m\cfgg\d\ek $Zlckli\ $ij\Xl $¿ i\gi`j\ GX^\(* CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ GXikXek[lgi`eZ`g\hlËle\\eki\gi`j\Y`\eXZZfdgX^e\ Xgclj[\Z_XeZ\[\[li\i# cXI^`feX`ejkXli[\lo[`jgfj`k`]j[ËX`[\~cXi\gi`j\1 c\G8:K<<eki\gi`j\ c\G8:K<=fidXk`fe GfliZfeeXki\Z\j[`jgfj`k`]jgifgfjjgXicXI^`fe CXe^l\[fZ$Ifljj`ccfe#i\gfik\q$mflj XlogX^\j/)~/,[l^l`[\% GfliZfeeXki\c\jÔeXeZ\d\ekjXZZfi[j gXicXI^`feCXe^l\[fZ$Ifljj`ccfe# Zfejlck\qc\jgX^\jd\ek`fee\jZ`$[\jjflj1 c\G8:K<8mXeZ\i\dYflijXYc\ gX^\((0 c\G8:K<=fe[ji^`feXc[\^XiXek`\ gX^\j(()~((, cËX`[\XlZfej\`cgfli[m\cfgg\icXZfdgk`k`m`k [\cË\eki\gi`j\i\gi`j\ gX^\()) cËX`[\~cËmXclXk`fe[\cË\eki\gi`j\~Z[\i gX^\()* cËX`[\XlÔeXeZ\d\ek[ljXcX`i\[li\gi\e\li gX^\()Mf`iXljj`cË\ej\dYc\[\jX`[\j`e[`m`[l\cc\jd`j\j \eÅlmi\gXicXI^`fejlic\gfikX`c[Ë`e]fidXk`fej nnn%`e]f$\eki\gi`j\jci%]i GX^\(+ CXI^`fe#Z_\][\Ôc\ [l[m\cfgg\d\ekZfefd`hl\ LEIyJ<8LIy>@FE8C ;Ë8::FDG8>E<D<EK ÁC8KI8EJD@JJ@FE Gfliiljj`i[Xejjfegifa\k#le\\eki\gi`j\ XY\jf`e[\gXik\eX`i\j%CXI^`fe]X`k\ejfik\ hl\c\j[`]]i\ekj`ek\im\eXekjjf`\ekZffi[feej% CXdlck`gc`Z`k[\jX`[\j\k[\j`ek\im\eXekj [iflk\gXi]f`jZ[Xekj\ki\gi\e\lij% CXglYc`ZXk`fe[\Z\^l`[\\jkle\kXg\`dgfikXek\ [\Z\gifZ\jjlj[\gif]\jj`feeXc`jXk`fe[lIj\Xl i^`feXc[ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe% :\kflmiX^\giXk`hl\#[`kgXicXI^`fe CXe^l\[fZ$Ifljj`ccfe#ile`k\eledd\i\Zl\`c cË\ej\dYc\[\j`ek\im\eXekj\k[\jX`[\jdfY`c`jXYc\j gXilei\gi\e\li[Ë\eki\gi`j\% :ilZ`Xc\gflicËZfefd`\i^`feXc\#cXkiXejd`jj`fe [Ële\\eki\gi`j\ZfeZ\ie\gi`eZ`gXc\d\ekc\jg\k`k\j \eki\gi`j\j[\gifo`d`k#Z\cc\jhl`jkXY`c`j\ekcË\dgcf`% :\^l`[\[li\gi\e\li`eZ`k\iXZ_XZle\\kZ_XZle ~i\c\m\ic\[Ôgflig\igkl\ijXmf`ij \kZfeeX`jjXeZ\j#gflile[m\cfgg\d\ek [liXYc\[lCXe^l\[fZ$Ifljj`ccfe% GX^\(, )% C<G8I:FLIJ ;LI<GI<E<LI :_Xhl\Xee\\eCXe^l\[fZ$Ifljj`ccfe#)'''\eki\gi`j\j[\kflk\jkX`cc\j\k [\kflk\jeXkli\j#Z_Xe^\ek[\dX`ej%C\jlZZ j[\Z\jkiXejd`jj`fej[g\e[ [\jYfee\jZfe[`k`fej[Xejc\jhl\cc\jj\iXc`j\Z\Z_Xe^\d\ek[\[`i`^\Xek% J`mfljk\ji\gi\e\liflhl\mflj\em`jX^\q[\c\[\m\e`i# Z\^l`[\XkZfelgflimfljXZZfdgX^e\igXj~gXj [Xejc\j[`]]i\ek\jkXg\j[lgifZ\jjlj[\i\gi`j\% GX^\(- GX^\(/ C\j^iXe[\jkXg\j[\cXi\gi`j\ GX^\)' ykXg\( Mfki\mXclXk`feg\ijfee\cc\ GX^\)) ykXg\) Kiflm\ile\\eki\gi`j\~i\gi\e[i\ GX^\)+ ykXg\* ;`X^efjk`Z#mXclXk`fe\ke^fZ`Xk`fe GX^\)- ykXg\+ =fidXc`jXk`fe[lgifa\k1 Xjg\ZkjÔeXeZ`\ij#ali`[`hl\j\kÔjZXlo GX^\)/ ykXg\, :feZik`jXk`fe[\cXi\gi`j\\k[dXiiX^\[\cËXZk`m`k GX^\*) KXYc\XliZXg`klcXk`][\jgi`eZ`gXc\jjkilZkli\jali`[`hl\j GX^\(. C\gXiZflij[li\gi\e\li C\j^iXe[\jkXg\j[\cXi\gi`j\[Ë\eki\gi`j\ ykXg\( Mfki\ mXclXk`fe g\ijfee\cc\ GX^\(/ ykXg\) Kiflm\i le\\eki\gi`j\ ~i\gi\e[i\ ykXg\* ;`X^efjk`Z# mXclXk`fe \ke^fZ`Xk`fe :fcc\Zk\ic\j `e]fidXk`fej 8eXcpj\ic\j gf`ekj]fikj\k c\jgf`ekj]X`Yc\j ymXcl\icËX]]X`i\ E^fZ`\i\k ZfeZcli\ ykXg\+ =fidXc`jXk`fe [lgifa\k 8jg\Zkj ÔeXeZ`\ij 8jg\Zkj ali`[`hl\j 8jg\ZkjÔjZXlo 8jg\Zkj gXki`dfe`Xlo CXjkiXk^`\[\ [m\cfgg\d\ek ykXg\, :feZik`jXk`fe [\cXi\gi`j\ \k[dXiiX^\ [\cËXZk`m`k J`^eXkli\ [\jXZk\j JkXklkali`[`hl\ [\cË\eki\gi`j\ =`jZXc`k Gifk\Zk`fe jfZ`Xc\ =fidXc`kj GX^\(0 C\gXiZflij[li\gi\e\li ykXg\( MFKI<yM8CL8K@FEG<IJFEE<CC<1 ÜK<J$MFLJ=8@K< GFLII<GI<E;I<<K;@I@><I LE<<EKI<GI@J<6 ;\efdYi\loi\gi\e\lijj\]fZXc`j\ekjlicXi\Z_\iZ_\ [\cË\eki\gi`j\$Z`Yc\jXejZfejXZi\ic\k\dgjeZ\jjX`i\ ~le\iÕ\o`fegiXcXYc\jlic\gifa\k%FiZ\kk\g_Xj\ \jk\jj\ek`\cc\gl`jhl\cËle\[\jZXlj\j[\[]X`ccXeZ\ [\j\eki\gi`j\ji\gi`j\j\jkle\dXlmX`j\gigXiXk`fe [li\gi\e\li% FeZfejkXk\hl\c\ji\gi\e\lij]fidj\kXZZfdgX^ej fekgclj[\Z_XeZ\[\mf`ic\li\eki\gi`j\j\gi\ee`j\i hl\Z\lohl`fek\e^X^c\li[dXiZ_\jXejZfej\`c jf`k-.Zfeki\,/JfliZ\@ej\\#J`e\(00/$)''* % @c\jk[feZeZ\jjX`i\[\mflj`ek\iif^\ijlimfjdfk`mXk`fej \kmfjfYa\Zk`]j#\k[\mi`Ô\ihl\cXi\gi`j\[Ële\\eki\gi`j\ Zfii\jgfe[Y`\e~mfjXjg`iXk`fej% MFKI<DFK@M8K@FE Gflihl\cc\jiX`jfejjfl_X`k\q$mflji\gi\e[i\le\\eki\gi`j\6 Gflii\kiflm\ile\j`klXk`feXgi jXmf`ig\i[lle\dgcf`6 GfliXZhli`ilejkXklkjfZ`Xc6Gfligi\e[i\cXjlZZ\jj`fe [\mfki\gXkife6GfliXkk\`e[i\lefYa\Zk`]gif]\jj`fee\c kflk\eiXc`jXekleXZZfdgc`jj\d\ekg\ijfee\c6 Gfliigfe[i\~Z\jhl\jk`fej#`c\jk`e[`jg\ejXYc\[ËmXcl\i mfki\ZfeeX`jjXeZ\[ldfe[\[\cË\eki\gi`j\\k[\gi\e[i\ cXd\jli\[\ji\jgfejXY`c`kjhl``eZfdY\ek~leZ_\] [Ë\eki\gi`j\%C\Ij\Xli^`feXc[ËXZk\lijg\lkmfljX`[\i ~mflj]Xd`c`Xi`j\iXm\Zc\dk`\i[\Z_\][Ë\eki\gi`j\% MFKI<<EKFLI8>< CË\em`ifee\d\ek]Xd`c`XcZfejk`kl\$k$`cle]i\`efllejflk`\e6 Ük\j$mfljj\lcflgclj`\lij~gfik\ic\gifa\k[\i\gi`j\6 J`mfljk\j\ehl`g\#k\j$mfljjij[\Y`\emfljZfeeXki\6 Hl\cjjfekc\jc`\ejhl`mfljle`jj\ek6 GX^\)' MFJ:FDGyK<E:<J Hl`k\j$mflj6Hl\c\jkmfki\gXiZflij6 Hl\jXm\q$mflj]X`i\6 ;\jY`cXej[\Zfdgk\eZ\jX[Xgkj\eki\k`\ej#cf^`Z`\cj#hl`q g\id\kk\ek[ËmXcl\imfj]fiZ\j\k]X`Yc\jj\j% ;\j]fidXk`fejk\Z_e`hl\jj\cfemfki\j\Zk\li[ËXZk`m`k \kjgZ`Ôhl\jXldk`\i[\Z_\][Ë\eki\gi`j\mfljjfek gifgfj\jgXic\Ij\Xl¿\keXkli\cc\d\eki\ZfddXe[\j MFJDFP<EJ=@E8E:@<IJ Le\fgiXk`fe[\i\gi`j\jË\]]\Zkl\Xm\ZleXggfik g\ijfee\cj`^e`ÔZXk`]%J`mfljjfcc`Z`k\qlegikYXeZX`i\ \eCXe^l\[fZ$Ifljj`ccfe#Z\[\ie`\ig\lkki\^XiXek` gXicXI^`fe% C<JJ@K<J@EK<IE<KÁM@J@K<I nnn%XgZ\%Zfd nnn%Xeg\%]i G8IFC<;< ½AËX`kg\e[Xekgclj`\lijXee\j^iXek[Ële\GD<[Xejc\j\Zk\li I<GI<E<LI `e]fidXk`hl\#gl`jZX[i\[\[`i\Zk`fe[Xejc\j\Zk\liYXeZX`i\% 8cX`e:C8M<C ,'Xej >iXek[\ cXjfZ`k JF=I8;< \eki\gi`j\ [\kiX`k\d\ek [\cË\Xl Ed\j*' A\jfl_X`kX`j[m\cfgg\ilegifa\kg\ijfee\cgflid\iXc`j\i \kXmf`ic\jie\j[\dXgifgi\\eki\gi`j\%GXiX`cc\lij#[Xejc\ZX[i\ [\dfeXeZ`\e\dgcf`#aËX`kXd\e~d\[gcXZ\i]ihl\dd\ek# dX]\dd\\kdf`jfl_X`k`feji\m\e`im\ijefki\i^`fe[Ëfi`^`e\# c\CXe^l\[fZ$Ifljj`ccfe%CË`eÕl\eZ\[\dfegflj\Xk`dgfikXek\1 \cc\XgXik`Z`g~dX[Z`j`feXmXek[\½]X`i\c\jXlk¾%8gi jZ\kk\ gi`j\[\[Z`j`fe#dfe\ekfliX^\gif]\jj`fee\cdËX^Xc\d\ekX`[ [Xejd\ji\Z_\iZ_\ja\d\jl`j\ekfli[\Zfdgk\eZ\j1leXmfZXk \kleZfdd`jjX`i\XloZfdgk\j %@cjË\jkZflc\em`ife(/df`j \eki\c\dfd\ekfaËX`hl`kkdfeXeZ`\egfjk\\kcXZfeZik`jXk`fe [\cXi\gi`j\%;liXekZ\kk\g_Xj\#aËX`^Xc\d\ekkXZZfdgX^e gXileX^\ek[\cX:_XdYi\[\Zfdd\iZ\\k[Ë`e[ljki`\gflidfek\i c\gifa\k\kkiflm\ile\\eki\gi`j\%Dfe\eki\gi`j\\jkZi\[\gl`j Xfk)''-#('\dgcf`jfekkdX`ek\elj\k('\dgcf`jfekkZij%¾ GX^\)( C\gXiZflij[li\gi\e\li ykXg\) KIFLM<ILE<<EKI<GI@J< ÁI<GI<E;I< ;y=@E@IC<J:I@KßI<J;<I<:?<I:?<1 c\j\Zk\li[ËXZk`m`k Z\j\Zk\li[ËXZk`m`kdË\jk$`c]Xd`c`\ifleflm\Xl6 # c\kpg\[ËXZk`m`k# cXqfe\^f^iXg_`hl\ iliXc\#liYX`e\#gi`liYX`e\¿ # c\kpg\[Ë\eki\gi`j\ e`m\Xl[\Z_`]]i\[ËX]]X`i\j#efdYi\[Ë\dgcf`j # cX]fliZ_\kk\[\gi`o\em`jX^\# cXZXk^fi`\ \eki\gi`j\`e[`m`[l\cc\#\eki\gi`j\[\ZXg`kXlo ¿ :FEJLCK<IC<J:FEK8:KJLK@C<J1 c\j:_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\# c\j:_XdYi\j[\dk`\ij\k[\cËXik`jXeXk# c\jYiXeZ_\j\kfi^Xe`jd\jgif]\jj`fee\cj# c\jZfej\`cj[Ë\eki\gi`j\1\og\ikj ZfdgkXYc\j#efkX`i\j#XmfZXkj# c\jZclYj\kXjjfZ`Xk`fej[[`j:clY [\ji\gi\e\lij[ËX]]X`i\j¿ # c\ji\ml\j#c\jj`k\j`ek\ie\k^eiXc`jk\j\kjgZ`Xc`jj# mfki\]Xd`cc\\kmfji\cXk`fejgif]\jj`fee\cc\j# mfki\\dgcfp\liXZkl\c% :FDD<EK:?F@J@I6 Jc\Zk`fee\qc\jXZk`m`kjhl`j\iXggifZ_\ek c\gclj[\mfjZfdgk\eZ\j#[\mfki\gifa\k`e`k`Xc fl[\mfjZfekiX`ek\j#ÔeXeZ` i\jgXi\o\dgc\% GX^\)) =X`k\jmXc`[\iZ\jgi\d` i\jfi`\ekXk`fej gXi[\jg\ijfee\jZfdgk\ek\j#XZk\lij [lIj\Xli^`feXc[ËXZZfdgX^e\d\ek% IXjj\dYc\q[ j~gij\ekc\dXo`dld[Ë`e]fidXk`fej lk`c\j]feZk`fee\d\ek[\cË\eki\gi`j\#kXk[\jc`\lo# ZfekiX`ek\ji^c\d\ekX`i\jc`\j~cXgif]\jj`fe % :fem\e\q[Ëlei\e[\q$mfljXm\Zc\Z[Xek gflim`j`k\icËX]]X`i\% C<JJ@K<J@EK<IE<KÁM@J@K<I nnn%`e]f$\eki\gi`j\jci%]i C\jYflij\j1 cX9flij\eXk`feXc\[\cXkiXejd`jj`fe nnn%i\gi`j\$\eki\gi`j\%Fj\f%]i cX9flij\eXk`feXc\[\jfggfikle`kjXik`jXeXc\j nnn%YefX%e\k cX9flij\i^`feXc\8:K:fekXZknnn%XZkZfekXZk%e\k cX9flij\i^`feXc\GD@:fekXZknnn%gd`ZfekXZk%e\k G8IFC<;< <ei\Z_\iZ_\[Ële\i\gi`j\[Ë\eki\gi`j\dlck`j\im`Z\j I<GI<E<LI ½AËX`eXm`^ljlic\j`k\`ek\ie\k[\cXYflij\i^`feXc\8:K:fekXZk# CXli\ek ;<JJ8C8J +(Xej ;\dXe[\li [Ë\dgcf` Dfekg\cc`\i ÔeXeZgXicXI^`feCXe^l\[fZ$Ifljj`ccfe%C\j`k\\jkd`j~afli i^lc` i\d\ek%CËXZk`m`k\kcËf]]i\jfekY`\eZ`Yc\j%AËX`gi`jZfekXZk Xm\Zlek\Z_e`Z`\e[\cX:_XdYi\[\dk`\ij\k[\cËXik`jXeXk [\cË?iXlckhl`dËX]flie`c\jZffi[fee\j[ËleZ[Xek# gl`jle\i\eZfeki\Xkfi^Xe`j\%<ehlXki\df`j[\i\Z_\iZ_\# aËX`fYk\el[`oi\e[\q$mflj%¾ GX^\)* C\gXiZflij[li\gi\e\li ykXg\* ;@8>EFJK@:#yM8CL8K@FE <KEy>F:@8K@FE :FCC<:K<IC<J@E=FID8K@FEJGIFGI<J ÁCË<EKI<GI@J< J\gifZli\iXlgi j[lZ[Xekc\j[fZld\ekjjl`mXekj1 BY`j# *[\ie`\ijY`cXej\kZfdgk\j[\ijlckXkjXm\Zc\jXee\o\j# g_fkfZfg`\[lYX`cZfdd\iZ`Xc#jË`cpXc`\l# XZk\j[\gifgi`kiXZ_Xk[\jdlij # Zfg`\[\jZfekiXkj[\ZfeZ\jj`fe fl[\]iXeZ_`j\#jË`cpXc`\l# Zfg`\[\jZfekiXkj[\kiXmX`c#jË`cpX[\jjXcXi`j# Zfg`\[\cXZfem\ek`feZfcc\Zk`m\#jË`cpXc`\l# c`jk\[ldXki`\cZ[\kc\jXkk\jkXk`fej [\Zfe]fid`kXloefid\j#j`\cc\j\o`jk\ek# [`X^efjk`Z\kmXclXk`fe[\cË\eki\gi`j\# jË`cjfekkiXc`jj% yKL;@<IC<JGF@EKJ=FIKJ<KC<JGF@EKJ=8@9C<J ;<CË<EKI<GI@J<;8EJC<J;FD8@E<JJL@M8EKJ1 cË\em`ifee\d\ekZfdd\iZ`Xc[\cË\eki\gi`j\1 gif[l`kj#dXiZ_#gi`o#kpg\[\Zc`\ek c\#ZfeZlii\eZ\# \dgcXZ\d\ek#gfc`k`hl\Zfdd\iZ`Xc\#g\ijg\Zk`m\j [\[m\cfgg\d\ek#]flie`jj\lij#glYc`Z`k¿ c\jdfp\ej[Ë\ogcf`kXk`fe\kcXZfe]fid`k Xloefid\j[\jZli`k#[Ë_p^` e\\k[Ë\em`ifee\d\ek efid\ji^c\d\ekX`i\jc`\j~cXgif]\jj`fe¿ c\g\ijfee\c[\cË\eki\gi`j\1 ZfekiXk[\kiXmX`c#jXmf`i$]X`i\#XeZ`\ee\k¿ c\jZ_`]]i\j$Zcj[\cË\eki\gi`j\1 Z_`]]i\[ËX]]X`i\j#YeÔZ\#mXc\liXaflk\#mfcld\[ËXZk`m`k¿ yM8CL<ICË<EKI<GI@J< ;`]]i\ek\jdk_f[\j[ËmXclXk`feg\lm\ekjËXggc`hl\i \kc\i\Zflij~[\jjgZ`Xc`jk\j[\mfki\j\Zk\li# Xlj\`e[lIj\Xli^`feXc#\jkjflm\ekgiZ`\lo1 mXclXk`fejkXk`jk`hl\\e]feZk`fe[lj\Zk\li [ËXZk`m`k\k[\cXkX`cc\[\cË\eki\gi`j\# GX^\)+ mXclXk`fe\e]feZk`fe[lZ_`]]i\[ËX]]X`i\j# mXclXk`fe\e]feZk`fe[\cXi\ekXY`c`k# mXclXk`fe\e]feZk`fe[\cXZXgXZ`k [Ë\e[\kk\d\ek[\cË\eki\gi`j\% ;Xejkfljc\jZXj#c\a\l[\cËf]]i\\k[\cX[\dXe[\ \jk[k\id`eXek[XejcËmXclXk`fe% G8IFC<;< ½DfeXjjfZ`\kdf`XmfejiXc`jc\[`X^efjk`Z[\gclj`\lij\eki\gi`j\j I<GI<E<LI ~i\gi\e[i\%CXgi\d` i\kXg\\jk[\gXik`i~c\lii\Z_\iZ_\% G_`c`gg\ I@9<PI< ,+Xej Gij`[\ek [l^iflg\ C8IFD d\el`j\i`\ Xcld`e`ld&Yf`j Dfekg\cc`\i*+ EfljXmfejZfekXZkc\jgXik\eX`i\j`ejk`klk`fee\cjefkXdd\ekcXI^`fe# cX:_XdYi\[\Zfdd\iZ\\k[Ë`e[ljki`\#c\jYXehl\j\k[\jZXY`e\kj [Ë`ek\id[`Xk`fe%Efljefljjfdd\j^Xc\d\ekXgglpjjliefki\ij\Xl \kefljXmfej\oXd`ele\m`e^kX`e\[\gifa\kj%8gi jle\mXclXk`fe ÔeXeZ` i\iXg`[\#eflj\eXmfeji\k\el_l`k%C\j`e]fidXk`fejZfdgkXYc\j fekkiZlgi\jjlic\j`k\`ek\ie\k[\cX:f]XZ\%CX[\lo` d\kXg\ [\cËmXclXk`fe\jkleXl[`kfgiXk`fee\cgcljgfljj1gfliiZlgi\i [\j`e]fidXk`fejjlggcd\ekX`i\jZfekiXkj[\kiXmX`c#Zfem\ek`fej# Xlki\j[fZld\ekjZfdgkXYc\j¿ #efljXmfeji[`^[\jc\kki\j[Ë`ek\ek`fe \kefljXmfeji\eZfekic\jZ[Xekjgfk\ek`\cj%GflicËcXYfiXk`fe [\cËmXclXk`feÔeXeZ` i\#`c]XlkXmf`i[\ji ^c\jj`dgc\j\k`c]Xlkgi\e[i\ \eZfej`[iXk`fehl\c\Z[XekXle\mXc\li[\cË\eki\gi`j\giZ`j\ hl`eË\jkgXjkflaflijYXj\jlile\mXclXk`fek\Z_e`hl\%GXiX`cc\lij# `c]Xlkj\Ô\i~jfe`ekl`k`fe[Xejc\j\ejf`cpXle\ZfiicXk`fe\eki\ c\Z[Xek\kjfe\eki\gi`j\1j`c\Z[Xek\jk[peXd`hl\\k[`jgfe`Yc\# jfe\eki\gi`j\j\iX~jfe`dX^\%:\jcd\ekjefljfekg\id`j [\]fidXc`j\ilekXYc\Xli\gi\eXekc\jgf`ekj]fikj\kc\jgf`ekj]X`Yc\j [\j\eki\gi`j\ji\eZfeki\j%GXiXcc c\d\ek#efljXmfejZfddXe[`kle Xl[`kZfdgkXYc\\kjfZ`XcXlgi j[Ële\og\ik$ZfdgkXYc\\k[ËleXmfZXk jgZ`Xc`j\e[if`k[lkiXmX`c%C\jZXY`e\kj[Ë`ek\id[`Xk`fe[`jgfj\ek ^Xc\d\ek[\[`X^efjk`Zj[Ë\eki\gi`j\jkflkZfdd\c\jYXehl\j% CX[dXiZ_\[\i\gi`j\X[li~g\lgi jle\Xee\%8lafli[Ë_l`# c\^iflg\C8IFD#Zfejk`klgXicËXZhl`j`k`fe[\*\eki\gi`j\jJ<I;lZifj# 9X`\j\kJkilZkli\jGXii`\i\kD9D\el`j\i`\j #XdX`ek\el+*\dgcf`j \k\eXZile\[`qX`e\%¾ GX^\), C\gXiZflij[li\gi\e\li ykXg\+ =FID8C@J8K@FE;LGIFA<K D`j\\egcXZ\[lgifa\k[Xejc\j[fdX`e\jÔeXeZ`\i# ali`[`hl\\kÔjZXc% C<J8JG<:KJALI@;@HL<J<K=@J:8LO;<C8I<GI@J< C\jdf[Xc`kj[\cXi\gi`j\1 kiXejd`jj`fe]Xd`c`Xc\fl[feXk`fe# XZ_Xk[Ële]fe[j[\Zfdd\iZ\fl[\k`ki\j[Ële\jfZ`k# XZ_Xk[lgXj$[\$gfik\fl[l[if`kXlYX`c# cfZXk`fe$^iXeZ\# YX`cZfdd\iZ`Xc\kXZ_Xk[\jdlijZfeZ\ie\kflk\j c\jdf[Xc`kj[\i\gi`j\jXl]cXcfZXk`fe$^iXeZ\ % CËXjg\ZkÔjZXc1c\j[if`kj[\dlkXk`fe J`mfljXZ_\k\qle]fe[j[\Zfdd\iZ\#le[if`kXlYX`cfl[\j gXikj[\jfZ`k#mflj[\mi\qmfljXZhl`kk\i[\j[if`kj[\dlkXk`fe% CËXjg\ZkgXki`dfe`Xc @eZ`[\eZ\ÔjZXc\\kgXki`dfe`Xc\jlicX]Xd`cc\\kc\jgifZ_\j1 gXikj[\cX]Xd`cc\[XejcË\eki\gi`j\Z[\~mi`Ô\i# kiXejd`jj`feXlo\e]Xekjcfij[\cXi\gi`j\# `dgfikXeZ\[li^`d\dXki`dfe`Xc[li\gi\e\li1 \eZXj[\ZXlk`feg\ijfee\cc\[\dXe[\ gXicXYXehl\Xlml[\cË\e[\kk\d\ek% yK89C@ILEGC8E;<=@E8E:<D<EKGIyM@J@FEE<C ;<CË<EKI<GI@J<I<GI@J<JLI*8EJ ymXcl\icXi\ekXY`c`k[\cË\eki\gi`j\ gXileZfdgk\[\ijlckXkiXc`jk\jli*Xej% =X`i\lekXYc\XlXm\Zc\jY\jf`ej \kc\ji\jjfliZ\j[\cË\eki\gi`j\jli*Xej% ycXYfi\ilegcXe[\kijfi\i`\giZ`jjlicX(i\Xee\% CXi\Z_\iZ_\[ËleYXehl`\igXik\eX`i\[\mfki\gifa\k\jk [k\id`eXek\%JXZ_\q]X`i\afl\icXZfeZlii\eZ\\ecXdXk` i\% C<JJ@K<J@EK<IE<KÁM@J@K<I1 nnn%dfekg\cc`\i$Ylj`e\jj$gcXe%ZfdYlj`e\jjgcXe~kcZ_Xi^\i nnn%XgZ\%ZfdilYi`hl\½cXYfi\ilegcXe[\i\gi`j\¾ GX^\)- C8JKI8Ky>@<;<;yM<CFGG<D<EK ;Xejc\ZX[i\[\mfki\gifa\k#`c\jkeZ\jjX`i\[\mflj`ek\iif^\i jlicXjkiXk^`\[\[m\cfgg\d\ek[\mfki\\eki\gi`j\ \kc\jdfp\ej~d\kki\\eÅlmi\gfliiljj`i1 cËfi^Xe`jXk`fe\kc\ji\jjfliZ\j_ldX`e\j# c\gif[l`k\e]feZk`fe[\jY\jf`ej[ldXiZ_# cXgifjg\Zk`fe#cXgifdfk`fe[\jgif[l`kj#c\df[\ [\[`jki`Ylk`fe#c\jgiXk`hl\jZfdd\iZ`Xc\j gifjg\Zk`fe[`i\Zk\#dX`c`e^j#jlggfikj Zfdd\iZ`Xlo#Yl[^\kZfdd\iZ`Xc^cfYXc¿ # cXgif[lZk`fec\ZXjZ_Xek # c\gim`j`fee\cI\Z_\iZ_\[m\cfgg\d\ekc\ZXjZ_Xek # c\jdfp\ejÔeXeZ`\ijXggfik[\ZXg`kXlo\em`jX^# gfc`k`hl\[Ë\e[\kk\d\ek#flm\ikli\[lZXg`kXc¿ # c\df[ c\Zfefd`hl\1jfliZ\j[\i\m\elj gif[lZk`fe#gi\jkXk`fej[\j\im`Z\#XZk`m`kj [\]fidXk`fe#c`Z\eZ\j#ifpXck`\j¿ % G8IFC<;< ½CX]fidXc`jXk`fe[lgifa\k[f`kjË\]]\Zkl\ij\cfele\XggifZ_\ I<GI<E<LI jlid\jli\#Z_Xhl\gifa\k[\i\gi`j\Xj\jjgZ`ÔZ`kj%:\g\e[Xek# :_i`jkfg_\ >F;;PE <og\ik$ ZfdgkXYc\ :XY`e\k :Xq\j$ 9\ieXi[$ >f[[pe \kXjjfZ`j Dfekg\cc`\i*+ cXgi\d` i\[dXiZ_\\jkcËXeXcpj\[\jY`cXej[\j\eki\gi`j\j$Z`Yc\j \kcËcXYfiXk`fe[ËleXl[`k[ËXZhl`j`k`fe%ÁgXik`i[\jZfdgk\j\o`jkXekj# `c\jkeZ\jjX`i\#gflicËXZhli\li#[ËkXYc`ile[fjj`\igim`j`fee\c ~mfZXk`feYXeZX`i\1c\[fjj`\igij\ek\c\[\jZi`gk`][lgifa\k \kgij\ek\c\i\gi\e\li%:\[fjj`\iZfdgi\e[^Xc\d\eklemfc\k ÔeXeZ`\iZfdgk\j[\ijlckXkj#i\kiX`k\icXidleiXk`fe[lZ[Xek¿ \k`c]Xlkp`ek^i\ic\gcXe[\ÔeXeZ\d\ek[\cËfgiXk`fe\egi\eXek \eZfdgk\c\j\dgilekj#c\jjlYm\ek`fej#c\jdfekX^\jcfijhlË`cjËX^`k [Ële\_fc[`e^¿ %C\[fjj`\i`ek ^i\^Xc\d\eklemfc\kali`[`hl\ gifa\k[\jkXklkj#gifkfZfc\\eki\c\jgXik`\j\kÔZ_\k\Z_e`hl\ [ldfekX^\ali`[`hl\i\k\el %:\[fjj`\igim`j`fee\cg\lkki\cXYfi gXile\og\ik$ZfdgkXYc\\eZfccXYfiXk`feXm\ZleXmfZXkjgZ`Xc`j% CËfYa\Zk`]\jk[\[dfeki\icX]X`jXY`c`k[lgifa\kXmXekcXj`^eXkli\ [lZfdgifd`j[\m\ek\\kZ\cc\[\cËXZk\[\Z\jj`fe%¾ GX^\). C\gXiZflij[li\gi\e\li ykXg\, :FE:IyK@J8K@FE;<C8I<GI@J< <K;yD8II8><;<CË8:K@M@Ky :FE:IyK@J8K@FE¿ CXj`^eXkli\[\jXZk\j :\jXZk\j[f`m\ekki\i[`^jgXilegif]\jj`fee\c efkX`i\#XmfZXk¿ % C\kki\[Ë`ek\ek`fe Gifd\jj\[\m\ek\flZfdgifd`j[\m\ek\ g\lkgi\e[i\[\lo]fid\j1 $cXgifd\jj\le`cXkiXc\[\m\ek\ $cXgifd\jj\jpeXccX^dXk`hl\flZfdgifd`j[\m\ek\ 8Zk\[\m\ek\ IXc`j[\mXekleefkX`i\fljfljj\`e^gi`m# `c[f`kZfdgfik\ileZ\ikX`eefdYi\[\d\ek`fej fYc`^Xkf`i\j1efd[lm\e[\li#[Xk\\keXkli\ [\jfeXZk\[ËXZhl`j`k`fe#gi`o[ËXZhl`j`k`fegflic\j cd\ekjZfigfi\cj\k`eZfigfi\cj#kXk[\jgi`m`c ^\j \keXek`jj\d\ekjiXkkXZ_jXl]fe[j#YX`c¿ GX`\d\ek @cg\lkjË\]]\Zkl\ij\cfe[`]]i\ek\jdf[Xc`kj XlZfdgkXekc\afli[\cXm\ek\#Xm\ZcËX`[\ [ËlegikYXeZX`i\fl[ËleZi[`km\e[\li¿ % CX[Ôe`k`fe[ljkXklk[\cË\eki\gi`j\[Xejc\ZX[i\ [\cXi\gi`j\\jkleZ_f`ojkiXk^`hl\[`]]i\eZ\j [\kiX`k\d\ek[XejcËX]Ôc`Xk`feXloZX`jj\j[ËXjjliXeZ\# c\jXjj`\kk\j\kc\jkXlo[\Zfk`jXk`fej#cXZflm\ikli\ [l[`i`^\Xek\k[\jX]Xd`cc\#c\i^`d\ÔjZXc\kcË`dgc`ZXk`fe [\jY`\ejg\ijfee\cj % GX^\)/ ¿<K;yD8II8>< C\jkXklkali`[`hl\[\cË\eki\gi`j\ C\jgi`eZ`gXc\j]fid\jali`[`hl\jjfekc\jjl`mXek\j1 <eki\gi`j\`e[`m`[l\cc\<@ <eki\gi`j\le`g\ijfee\cc\~i\jgfejXY`c`kc`d`k\<LIC JfZ`k~i\jgfejXY`c`kc`d`k\J8IC JfZ`kXefepd\J8 JfZ`kgXiXZk`fejj`dgc`Ô\J8J JfZ`kZffgiXk`m\[\gif[lZk`feJZfg JfZ`kZffgiXk`m\[Ë`ekikZfcc\Zk`]J:@: C\kXYc\XlÔ^liXekgX^\*)[m\cfgg\c\jXjg\Zkjali`[`hl\# ÔjZXc\kjfZ`Xc[\mfki\gifa\k[\i\gi`j\j\cfec\jkXklkZ_f`j`% C8=@J:8C@Ky J\cfecX]fid\ali`[`hl\gflicXhl\cc\mfljXli\qfgk# c\i^`d\[Ë`dgfj`k`feg\lk[`]]i\i1`dgkjlic\jjfZ`kj fl`dgkjlic\i\m\el%C\i^`d\ÔjZXcg\lk^Xc\d\ek ki\[`]]i\ek\e]feZk`fe[\Z\Z_f`o% C8GIFK<:K@FEJF:@8C< <cc\\jkfYc`^Xkf`i\#hl\cc\jhl\jf`\ekcËXZk`m`k\kcX]fid\ ali`[`hl\% C<J=FID8C@KyJ <cc\jjË\]]\Zkl\ekXlgi j[\j:\eki\j[\]fidXc`kj [\j\eki\gi`j\j:=< %:\jfek[\j^l`Z_\kjle`hl\jXlgi j [\jhl\cjjfek[gfj\jc\j[\dXe[\j[Ë`ddXki`ZlcXk`fe# [\df[`ÔZXk`fefl[\Z\jjXk`fe[ËXZk`m`k%C\:=<Z\ekiXc`j\ c\jg` Z\j[l[fjj`\i\kc\jkiXejd\kXlofi^Xe`jd\j \kX[d`e`jkiXk`fej`eki\jjj1cË@ej\\#c\jj\im`Z\j ÔjZXlo#c\jfi^Xe`jd\jjfZ`Xlo#c\>i\]]\[lki`YleXc [\Zfdd\iZ\#c\Ig\ikf`i\[\jdk`\ij#c\jZX`jj\j jfZ`Xc\jX`ej`hl\cË`ejg\Zk`fe[lkiXmX`cj`cX[ZcXiXk`fe `e[`hl\hl\cËXZk`m`k[dXii\Xm\Z[\jjXcXi`j% ¿& GX^\)0 C\gXiZflij[li\gi\e\li ykXg\, C<JJ@K<J@EK<IE<KÁM@J@K<I1 Mfljgflii\qkiflm\icXc`jk\[\j:=<Zfdgk\ekj jlic\j`k\jl`mXek1 \eki\gi`j\j%`ej\\%]i ilYi`hl\XeelX`i\[\j:\eki\j[\]fidXc`kj[\j\eki\gi`j\j nnn%XgZ\%Zfd nnn%[\dXii\q$mfki\$\eki\gi`j\%Zfd nnn%jZfg%Zffg G8IFC<;< ½GfliZfeZik`j\icXi\gi`j\[\dfe\eki\gi`j\#aËX`kZfej\`cc I<GI<E<LI gXihlXki\`ek\icfZlk\lij%LeefkX`i\\jk`ek\im\elgflicX JXdl\c 98P8I; >iXek [ËlejXcfe [\Zf`]]li\ :\cc\e\lm\ Dfekg\cc`\i*+ GX^\*' j`^eXkli\[lZfdgifd`j[\m\ek\\kcËXZk\[\m\ek\[Ôe`k`] le\Xee\\ek` i\jË\jk[iflc\\eki\c\j[\loj`^eXkli\j % A\dËpjl`jgi`jki j~cËXmXeZ\gfliZ\kk\g_Xj\[lgifa\k ZXile\fggfikle`kj\gij\ekX`k% LeX^\ek[\cX:_XdYi\[\dk`\ij\k[\cËXik`jXeXk[\cË?iXlck# dfe\og\ik$ZfdgkXYc\\kleZfej\`cc\iali`[`hl\dËfekXZZfdgX^e ^Xc\d\ekgfli[k\id`e\ic\Z_f`o[\cX]fid\ali`[`hl\[\ cË\eki\gi`j\#dËfek`e]fidjlicXÔjZXc`k\kcXgifk\Zk`fejfZ`Xc\% A\d\jl`j^Xc\d\ekiXggifZ_[l:=<[\cX:_XdYi\[\dk`\ij \k[\cËXik`jXeXk[\cË?iXlckgfliXZZfdgc`ic\j]fidXc`kj X[d`e`jkiXk`m\j[Ë`ddXki`ZlcXk`fe%8lafli[Ë_l`#a\^ i\le\hl`g\[\ [\log\ijfee\j\kdfegflj\#\ekXekhl\Zfeaf`ek\$ZfccXYfiXki`Z\# gXik`Z`g\gc\`e\d\ek~cËXZk`m`k[ljXcfe[\Zf`]]li\ \kefkXdd\ek~jX^\jk`fe%¾ GX^\(GX^\*( C\gXiZflij[li\gi\e\li KXYc\XliZXg`klcXk`][\jgi`eZ`gXc\jjkilZkli\jali`[`hl\j JK8KLK ALI@;@HL< =@J:8C@Ky <eki\gi`j\ `e[`m`[l\cc\ <LIC J8IC Ile`fe [\jZXg`kXlo 8ggfikg\ijfee\c 8ggfikg\ijfee\c 8ggfikg\ijfee\c "Xggfik[\jXlki\j XjjfZ`j DfekXek [\jZXg`kXlo GXj[\efk`fe [\ZXg`kXcjfZ`Xc :Xg`kXcc`Yi\d\ekÔo gXicËXjjfZ`le`hl\ :Xg`kXcc`Yi\d\ek Ôo EfdYi\ [ËXjjfZ`j <eki\gi\e\li `e[`m`[l\cj\lc JgXiXk`fe [lgXki`df`e\ g\ijfee\c\k [lgXki`df`e\ [\cË\eki\gi`j\ EFE FL@ I\jgfejXY`c`kc`d`k\ XloXggfikj FL@ I\jgfejXY`c`k c`d`k\XloXggfikj =iX`j[\ Zfejk`klk`fe EFE FL@ FL@ I^`d\ÔjZXc [\cË\eki\gi`j\ @dgkjlic\i\m\el @dgkjlic\i\m\elfl gfjj`Y`c`k`iimfZXYc\[Ëfgk\i gflicË`dgkjlic\jjfZ`kj@J @dgkjlic\j jfZ`kj@J fl gfjj`Y`c`k[Ëfgk\i gflicË`dgkjli c\i\m\elcfijhl\ c\jXjjfZ`j jfekd\dYi\j [Ële\dd\ ]Xd`cc\ J8IC[\]Xd`cc\ I^`d\ÔjZXc [l[`i`^\Xek 8JG<:K JF:@8C D`e`dld) XjjfZ`j @dgkjlic\i\m\el#jf`k[XejcX KiX`k\d\ekj ZXk^fi`\[\jYeÔZ\j`e[ljki`\cj \kjXcX`i\j \kZfdd\iZ`Xlo9@: fl[\j YeÔZ\jefeZfdd\iZ`Xlo9E: <LIC~cË@I #jf`k[XejZ\cc\[\j kiX`k\d\ekj\kjXcX`i\j<LIC~cË@J I^`d\ [Ë`dgfj`k`fe [\cË\eki\$ gi`j\jl`mXek cË`dgfikXeZ\ [\jfe:8 D`Zif$\eki\gi`j\ I\cj`dgc`Ô I\cefidXc I\cj`dgc`Ô I\cefidXc I\cj`dgc`Ô I\cefidXc Gifk\Zk`fe jfZ`Xc\ [l[`i`^\Xek EfejXcXi` I^`d\[lkiXmX`cc\li `e[g\e[XekK@ EfejXcXi`j`c\^iXek \jkcËXjjfZ`le`hl\K@ 8jj`d`cjXcXi`j`c\^iXek \jklek`\ij >iXek dXafi`kX`i\1 Xjj`d`cjXcXi` >iXekdXafi`kX`i\1 efejXcXi` I^`d\jfZ`Xc [\jXjjfZ`j 8]Ôc`Xk`fe GX^\*) JXcXi`j j`ZfekiXk[\kiXmX`c :fk`jXk`fe[`i\Zk\Xlgi j[\kif`jfi^Xe`jd\j[\gifk\Zk`fejfZ`Xc\1 XccfZXk`fej]Xd`c`Xc\j#dXcX[`\#i\kiX`k\%J`mflj\dYXlZ_\q[lg\ijfee\c# mfljZfk`j\i\qgflimfljZfdd\kiXmX`cc\li`e[g\e[Xek\k#gflimfj\dgcfpj# Xlk`ki\[li^`d\^eiXc[\jjXcXi`j% J8 J8J J:FGJ8IC J:FGJ8 8ggfikg\ijfee\c "Xggfik[\jXlki\j XjjfZ`j 8ggfikg\ijfee\c"Xggfik [\jXlki\jXjjfZ`j )jXcXi`j#XjjfZ`jjXcXi`j \kXjjfZ`j\oki`\lij .jXcXi`jXjjfZ`j jXcXi`jfl\oki`\lij D`e`dld[\ *.'''` D`e`dld[\ *.'''` :Xg`kXcd`e`dld)gXikj [\(,~.,` :Xg`kXcd`e`dld (/,''` D`e`dld.XjjfZ`j D`e`dld(XjjfZ` D`e`dld)XjjfZ`j D`e`dld)XjjfZ`j FL@ I\jgfejXY`c`k c`d`k\XloXggfikj FL@ I\jgfejXY`c`k c`d`k\XloXggfikj 8Yj\eZ\[\i\jgfejXY`c`k 8Yj\eZ\[\i\jgfejXY`c`k [\jd\dYi\jefe[`i`^\Xekj1 [\jd\dYi\jefe[`i`^\Xekj1 i\jgfejXY`c`kZ`m`c\ i\jgfejXY`c`kZ`m`c\ FL@ FL@ FL@ FL@ @dgkjlic\j jfZ`kj@J @dgkjlic\j jfZ`kj@J <ofeiXk`fe jfljZ\ikX`e\jZfe[`k`fej [\1 cXij\im\[\gXik`Z`gXk`fe Zfejk`kl\gXicXkfkXc`k[\ cXgXik[\kiXmX`c [\jij\im\jhl`k`\ee\ek c`\l[\gifm`j`fegfli `em\jk`jj\d\ekjaljhlËXl dfd\ek[\cXgXik`Z`gXk`fe <ofeiXk`fe jfljZ\ikX`e\jZfe[`k`fej [\1 cXij\im\[\gXik`Z`gXk`fe Zfejk`kl\gXicXkfkXc`k [\cXgXik[\kiXmX`c [\jij\im\jhl`k`\ee\ek c`\l[\gifm`j`fegfli `em\jk`jj\d\ekjaljhlËXl dfd\ek[\cXgXik`Z`gXk`fe KiX`k\d\ekj \kjXcX`i\j gflic\gij`[\ek [l:fej\`c [ËX[d`e`jkiXk`fe KiX`k\d\ekj\kjXcX`i\j KiX`k\d\ekj\kjXcX`i\jj` le\idleiXk`fe\jkm\ij\ KiX`k\d\ekj\kjXcX`i\jj` le\idleiXk`fe\jkm\ij\ I\cj`dgc`Ô I\cefidXc I\cj`dgc`Ô I\cefidXc I\cj`dgc`Ô I\cefidXc I\cj`dgc`Ô I\cefidXc Gij`[\ek1 Xjj`d`cjXcXi` Gij`[\ek1Xjj`d`cjXcXi` JXcXi`1i^`d\^eiXc jZli`kjfZ`Xc\\k XccfZXk`fejZ_dX^\ JXcXi`1i^`d\^eiXc jZli`kjfZ`Xc\\k XccfZXk`fejZ_dX^\ JXcXi`j j`ZfekiXk[\kiXmX`c JXcXi`j j`ZfekiXk[\kiXmX`c JXcXi`j j`ZfekiXk[\kiXmX`c JXcXi`j j`ZfekiXk[\kiXmX`c :fk`jXk`fe[`i\Zk\Xlgi j[\kif`jfi^Xe`jd\j[\ gifk\Zk`fejfZ`Xc\1XccfZXk`fej]Xd`c`Xc\j#dXcX[`\# i\kiX`k\%J`mflj\dYXlZ_\q[lg\ijfee\c#mfljZfk`j\$ i\qgflimfljZfdd\kiXmX`cc\li`e[g\e[Xek\k#gfli mfj\dgcfpj#Xlk`ki\[li^`d\^eiXc[\jjXcXi`j% GX^\** *% C<J8:K<LIJ;LIyJ<8LIy>@FE8C ;Ë8::FDG8>E<D<EKÁC8KI8EJD@JJ@FE <KC<LIJGI<JK8K@FEJ GX^\*+ C\Ij\Xli^`feXc[ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe\jkZfdgfj [\gclj[\hlXiXek\jkilZkli\jgif]\jj`fee\cc\jhl`jfekc~gflimflj Zfej\`cc\i\kmflj^l`[\i%JXZ_\qgifÔk\igc\`e\d\ek[\c\li\ogi`\eZ\ \k[\c\li\og\ik`j\gfli[fee\ikflk\jc\jZ_XeZ\j[\iljj`k\ ~mfki\gifa\k% GX^\j*-~*. IZXg`klcXk`][\jd`jj`fej\k[\jgi\jkXk`fejgifgfj\j gXic\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe GX^\j*/~0- =`Z_\jj`^eXck`hl\jgXiXZk\li1 d`jj`fej#YeÔZ`X`i\j#ZfekXZkj GX^\*, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej IZXg`klcXk`][\jd`jj`fej\k[\jgi\jkXk`fejgifgfj\j gXic\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe D@JJ@FEJ&GI<JK8K@FEJ 8ZZl\`c 8`[\#Zfej\`cXldfekX^\[\gifa\k[\i\gi`j\ =fidXk`fe 8`[\~cXi\Z_\iZ_\[\ÔeXeZ\d\ek FZkif`[\ÔeXeZ\d\ek Jl`m`gfjk$i\gi`j\ GX^\*/ GX^\*0 GX^\+) GX^\+* GX^\+, GX^\+. GX^\+0 GX^\,( GX^\,+ GX^\,- GX^\,. GX^\-' GX^\-* GX^\-, GX^\*- jjfZ`Xk`fe\lifg\ee\gflic\kiXmX`c 8 \kc\jZ_Xe^\j8<K< 8jjfZ`Xk`fe[\^\jk`fe[l]fe[jgfli cË`ej\ik`fegif]\jj`fee\cc\[\jg\ijfee\j _Xe[`ZXg\j8^\Ôg_ 8jjfZ`Xk`fe`ek\i[gXik\d\ekXc\ gflic\[m\cfgg\d\ek[\cË`ej\ik`fe gXicËZfefd`\8`i[`\ 8jjfZ`Xk`fegflicË\dgcf`[\jZX[i\j 8g\Z 8jjfZ`Xk`fei^`feXc\[\j`e[ljki`\j X^if$Xc`d\ekX`i\j8i`XCI 8jjfZ`Xk`fegflicË\dgcf`[XejcË`e[ljki`\ \kc\Zfdd\iZ\8jj\[`Z 9q`\ijD[`k\iiXe\<ogXej`fe 9flk`hl\j[\^\jk`fe[lCXe^l\[fZ$ Ifljj`ccfe :[Xekj\ki\gi\e\lij[ËX]]X`i\j:I8 :\eki\[\i\jjfliZ\jgfli cË\eki\gi\e\li`XkXl]d`e`e:I<= :_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\ [lCXe^l\[fZ$Ifljj`ccfe::@ :_XdYi\j[\dk`\ij\k[\cËXik`jXeXk [lCXe^l\[fZ$Ifljj`ccfe:D8 :fe][iXk`fe^eiXc\[\jg\k`k\j \kdfp\ee\j\eki\gi`j\j:>GD<CI :_XdYi\gif]\jj`fee\cc\[\jZfej\`cj [Ë\eki\gi`j\j\eCXe^l\[fZ$Ifljj`ccfe :CI GX^\-- GX^\-/ GX^\.( GX^\.* GX^\., GX^\.. GX^\./ GX^\/' GX^\/) GX^\/- GX^\// GX^\0' GX^\0) GX^\0+ GX^\0, `i\Zk`fej[gXik\d\ekXc\j[lkiXmX`c# ; [\cË\dgcf`\k[\cX]fidXk`fe gif]\jj`fee\cc\[lCXe^l\[fZ$Ifljj`ccfe ;;K<=GCI =[iXk`fe]iXeX`j\[lYk`d\ek CXe^l\[fZ$Ifljj`ccfe==9CI >Xi[i_f[Xe`\e[m\cfgg\d\ek&Jf[`\ Fi[i\[\j\og\ikj$ZfdgkXYc\j F]ÔZ\i^`feXc[Ë`e]fidXk`fe# [\]fidXk`fe\k[\]fidXc`kj[\j gif]\jj`fejc`YiXc\jCXe^l\[fZ$ Ifljj`ccfeFi`]]GCCI Fjf GcXk\$]fid\[\cXZiXk`fe[ËXZk`m`kj [\cË?iXlckG=:8*+ \k [\jGpie\j$Fi`\ekXc\jG=:8-GcXk\j$]fid\j[Ë`e`k`Xk`m\cfZXc\ [lCXe^l\[fZ$Ifljj`ccfeG=@C I^`feCXe^l\[fZ$Ifljj`ccfe I\cX`jcfZXcXe`dXk`fe:m\ee\j I\cXeZ\ JfZ`kjZffgiXk`m\j[\gif[lZk`fe \eki\gi`j\jCXe^l\[fZ$Ifljj`ccfe JZfgCI JfZ`k[\ZXlk`fedlkl\cc\Xik`jXeXc\ JfZXdX JfZ`k`ek\igif]\jj`fee\cc\Xik`jXeXc\ [\^XiXek`\[Ë`em\jk`jj\d\ekJ`X^` Jfi`[\Z Le`fei^`feXc\[\j\eki\gi`j\j [Ë`ej\ik`feLi\`CI GX^\*. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fe\lifg\ee\gflic\kiXmX`c\kc\jZ_Xe^\j8<K< 8JJF:@8K@FE<LIFGy<EE<GFLI C<KI8M8@C<KC<Jy:?8E><J8<K< D@JJ@FEJ :fej\`c#XZZfdgX^e\d\ek\kjl`m`~cXZiXk`fe&i\gi`j\ [Ë\eki\gi`j\j$]fidXk`feÆ_Y\i^\d\ek[\j\eki\gi`j\j$ ZffgiXk`fe\eD[`k\iiXe\%8jjfZ`Xk`fecf`(0'(Zi\ \e(0/0% 9yEy=@:@8@I<J C\jd`jj`fej[\cË8<K<jfek\jj\ek`\cc\d\ek[`i`^\j m\ijleglYc`Z[`m\ij\kmXi`[fekc\jg\ijfee\j\e`ej\ik`fe gXicËXZk`m`kZfefd`hl\% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< G_Xj\($8ZZl\`c&`e]fidXk`fe\kc\ZXjZ_Xek# ifi`\ekXk`fe G_Xj\)$:fej\`cj&[`X^efjk`Z[\jgifa\kj[\i\gi`j\# XeXcpj\[\cË\em`ifee\d\ek\k[lgXiZflij[lgfik\li [\gifa\k\kkXYc`jj\d\ek[ËlegcXe[ËXZk`fegfli c\dfekX^\[lgifa\k[\i\gi`j\flifi`\ekXk`fe G_Xj\*$8ZZfdgX^e\d\ekXmXeki\gi`j\gfliÔeXc`j\i c\gifa\ki\gi`j\[lgf`ek[\ml\Zfdd\iZ`Xc#ÔeXeZ`\i# ali`[`hl\\kÔjZXc G_Xj\+$Jl`m`gfjk$i\gi`j\#Zfej\`cj\e^\jk`fe [Ë\eki\gi`j\#[m\cfgg\d\ekZfdd\iZ`Xc¿ :FFI;FEEy<J .('il\[Ë8cZf 9li\Xlo[\GXjjp@ 9k`d\ek8 *+'.'Dfekg\cc`\i Kc%1'+00..)(.. =Xo1'+00..)(./ <$dX`c1 8%<%K%<7nXeX[ff%]i ;`i\Zk\li1 ;i`jj<C8C8FL@ GX^\*/ 8ek\ee\ 8<K<Dfjjfe Gf`ekj\im`Z\hlXik`\ij ,0,Xm\el\[\Cfl`jm`cc\ *+'/'Dfekg\cc`\i Kc%1'+-.('/'.. =Xo1'+-.('/.0* <$dX`c1 X\k\%gjh7nXeX[ff%]i G\idXe\eZ\j1 0,Xm\el\>XYi`\c8c[` *+(*'DXl^l`f )il\[\JXlm\ *+),'GXcXmXj$c\j$=cfkj GcXZ\[\cXDX`i`\ *+,.'G`^eXe :\eki\jfZ`Xcdle`Z`gXc C`efM\ekliX *+(-':Xjki`\j C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fe[\^\jk`fe[l]fe[jgflicË`ej\ik`fe gif]\jj`fee\cc\[\jg\ijfee\j_Xe[`ZXg\j8^\Ôg_ 8JJF:@8K@FE;<><JK@FE ;L=FE;JGFLICË@EJ<IK@FE GIF=<JJ@FEE<CC<;<JG<IJFEE<J ?8E;@:8Gy<JC8E>L<;F:$ IFLJJ@CCFE8><=@G? D@JJ@FEJ CË8jjfZ`Xk`fe[\^\jk`fe[l]fe[jgflicË`ej\ik`fegif]\jj`fee\cc\ [\jg\ijfee\j_Xe[`ZXg\j\jk`jjl\[\cXcf`[l('al`cc\k(0/. jlicË\dgcf`[\jg\ijfee\j_Xe[`ZXg\j#hl`Xki\e]fiZ\ gXicXcf`[l((]mi`\i)'',% J\ji\jjfliZ\jgifm`\ee\ek[\jZfeki`Ylk`fej[\j\eki\gi`j\j gi`m\j[\)'jXcXi`j\kgcljhl`eË\dgcf`\ekgXj- [\jXcXi`j_Xe[`ZXgj% CÊ8^\Ôg_gflijl`khlXki\fYa\Zk`]jgi`eZ`gXlo1 [m\cfgg\icXhlXc`ÔZXk`fe[\jg\ijfee\j_Xe[`ZXg\j# Xdc`fi\icËXZZ j~cË\dgcf`[\jkiXmX`cc\lij_Xe[`ZXgj# X`[\ic\j\eki\gi`j\j~i\Zilk\i\k~Zfej\im\i c\lijjXcXi`j_Xe[`ZXgj# Xggif]fe[`icXZfeeX`jjXeZ\[\cXgfglcXk`feXZk`m\ _Xe[`ZXg\% 9yEy=@:@8@I<J C\jZiXk\lijfli\gi\e\lij[Ë\eki\gi`j\XpXekc\jkXklk [\[\dXe[\lij[Ë\dgcf`\ki\ZfeeljkiXmX`cc\li_Xe[`ZXg YeÔZ`X`i\[\cËXik`Zc\C*)*%*[l:f[\[lkiXmX`c % ¿& GX^\*0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fe[\^\jk`fe[l]fe[jgflicË`ej\ik`fe gif]\jj`fee\cc\[\jg\ijfee\j_Xe[`ZXg\j8^\Ôg_ ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< Gi\jkXk`fe( 8ZZl\`c#`e]fidXk`fe\kXZZfdgX^e\d\ek~cËkl[\ [\]X`jXY`c`k\kXldfekX^\[\gifa\kj 8ZZl\`cc`ic\jgfik\lij[\gifa\kj[\ZiXk`fefl[\i\gi`j\ [Ë\eki\gi`j\#fi`\ekjgXi:Xg\dgcf`flcË8EG< @e]fid\ic\jgfik\lij[\gifa\kj[\Z\hlË`dgc`hl\ cXi\gi`j\[Ë\eki\gi`j\#[\jX`[\jgfjj`Yc\j#efkXdd\ek Z\cc\[\cË8^\Ôg_ MXc`[\icX]X`jXY`c`k[lgifa\kXmXek[\[Zc\eZ_\i le\g_Xj\[ËXggif]fe[`jj\d\ek Mi`Ô\icX]X`jXY`c`k[lgifa\k 8`[\i~dfek\ic\gifa\k\kc\j[`]]i\ekj[fjj`\ij [\[\dXe[\[\ZfÔeXeZ\d\ekgcljgXik`Zlc` i\d\ek c\[fjj`\i8^\Ôg_ >XiXek`ihl\c\j[dXiZ_\ji\c\mXek[\jfYc`^Xk`fej c^Xc\jfekkiXc`j\j 8jjli\ic\jl`m`gfjk$i\gi`j\~cX[\dXe[\[li\gi\e\li C\Zfk[\cXgi\jkXk`fe(\jkgi`j`ek^iXc\d\ek\eZ_Xi^\ gXicË8^\Ôg_% Gi\jkXk`fe) Jl`m`gfjk$i\gi`j\[\ji\gi\e\lij[Ë\eki\gi`j\XZZfdgX^ej [Zc\eZ_\~cË`e`k`Xk`m\[li\gi\e\li =Xmfi`j\icXgi\ee`k[\cË\eki\gi`j\i\gi`j\\eXggfikXek leXggl`k\Z_e`hl\XlZiXk\lig\e[Xekc\j()gi\d`\ij df`j[ËXZk`m`k C\Zfk[\cXgi\jkXk`fe)\jkgi`j\eZ_Xi^\~_Xlk\li[\0' gXicË8^\Ôg_% C\jgi\jkXk`fejjfekiXc`j\jgXi[\jgi\jkXkX`i\jjgZ`Xc`jj [XejcXZiXk`fe\ki\gi`j\[ËXZk`m`k#cXY\cc`jjgXicË8^\Ôg_% :FFI;FEEy<J 8^\Ôg_CI ((0Xm\el\AXZhl\j:Xik`\i 8ek`^fe\$@dd\lYc\8ekXcpX *+0-.Dfekg\cc`\iZ\[\o) Kc%1'+00(*.*)' =Xo1'+00(*.*), nnn%X^\g_`g%Xjjf%]i GX^\+' 8::FDG8>E<D<EK;LI<GI<E<LI EXkli\[\jgi\jkXk`fej 8ZZl\`c :fej\`c =`eXeZ\d\ek Gfik\li[\gifa\k ykXg\j ;\jZi`gk`] :Xg \dgcf`8EG< MXc`[Xk`fe[lgifa\k g\ijfee\cgif]\jj`fee\c Gi\jkXkX`i\j Zfej\`c \ei\gi`j\ [ËXZk`m`kj MXc`[Xk`fefggfikle`k [lgifa\k ykl[\[\]X`jXY`c`k DfekX^\ÔeXeZ`\i ycXYfiXk`fe[\cX[\dXe[\ [\jlYm\ek`fe KiXejd`jj`fe[\cX[\dXe[\ Xlgi j[\cË8^\Ôg_ * @ejkilZk`fe[l [fjj`\i[\[\dXe[\ [\ÔeXeZ\d\ek ;c^Xk`fe i^`feXc\ 8^\Ôg_ ykl[\[\cX[\dXe[\ [\jlYm\ek`fe Mi`ÔZXk`fe [\j`e]fidXk`fej + I\gi`j\ [\cË\eki\gi`j\ I\gi\e\li J`^eXkli\[Ële\Zfem\ek`fe Xm\ZcË8^\Ôg_ KiXejd`jj`fe[\j[fZld\ekj aljk`ÔXekcXi\gi`j\ , 8ggl`k\Z_e`hl\\k X[d`e`jkiXk`]~cX i\gi`j\ Gi\jkXkX`i\j Zfej\`c\ei\gi`j\ [ËXZk`m`k Mi`ÔZXk`fe[\jcd\ekj i\d`jgXic\i\gi\e\li# YeÔZ`X`i\[\cXjlYm\ek`fe% KiXejd`jj`fe[\j [fZld\ekj~cX[c^Xk`fe i^`feXc\8^\Ôg_ 8[d`e`jkiXk`fe [l[fjj`\i ;c^Xk`fe i^`feXc\8^\Ôg_ M\ij\d\ek[\cXjlYm\ek`fe Xli\gi\e\li Gi\jkXkX`i\j Zfej\`c\ei\gi`j\ [ËXZk`m`k Jl`m`gfjk$i\gi`j\ ~cX[\dXe[\[lYeÔZ`X`i\ [\cXjlYm\ek`fe#ÔeXeZ\~ 0'gXicË8^\Ôg_ dXo`dld()_\li\j Xm\Z le\gXik`Z`gXk`feÔeXeZ` i\ [li\gi\e\li[\(' ( Gi\jZi`gk`fe ) 8ZZl\`c `e]fidXk`fe Gi\jkXk`fe [ËXZZfdgX^e\d\ek . Gi\jkXk`fejl`m` gfjk$i\gi`j\ GX^\+( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fe`ek\i[gXik\d\ekXc\gflic\[m\cfgg\d\ek [\cË`ej\ik`fegXicËZfefd`\8`i[`\ 8JJF:@8K@FE @EK<I;yG8IK<D<EK8C<GFLI C<;yM<CFGG<D<EK;<CË@EJ<IK@FE G8ICËy:FEFD@<8@I;@< D@JJ@FEJ CË8`i[`\XkZi\\e(00+~cË`e`k`Xk`m\[\cËykXk#[\j:fej\`cj ^eiXlo[\cË8l[\#[l>Xi[#[\cË?iXlck\k[\jGpie\j$ Fi`\ekXc\j#[\cX:X`jj\[\j[gkj\kZfej`^eXk`fej#[l=fe[j [ËXZk`fejfZ`Xc\#[\cË8[`\#[\=iXeZ\XZk`m\#[\cËLi\`# [\cËLijZfg\k[l:ffiXZ\% CË8`i[`\\jkÔeXeZ\gXicXI^`fe%<cc\XgflimfZXk`fe [\[m\cfgg\i[\jflk`cjÔeXeZ`\ijg\id\kkXek[\jflk\e`i cXZiXk`fe#c\[m\cfgg\d\ek\kcXi\gi`j\[\j\eki\gi`j\j Xlj\im`Z\[\cË\dgcf`d`Zif$\eki\gi`j\jg\id\kkXekcXZiXk`fe [\jfegifgi\\dgcf`#jkilZkli\jZfcc\Zk`m\j[Ë`ej\ik`fe¿ % 9yEy=@:@8@I<J C\j[\dXe[\lij[Ë\dgcf`YeÔZ`X`i\j[\jd`e`dX jfZ`Xlohl`[j`i\ekZi\ic\ligifgi\\dgcf` fl\eki\gi`j\ C\jjkilZkli\j[Ë`ej\ik`fecXY\cc`j\j Kflk\jkilZkli\ij\imXekcXdXafi`k[\j\j\dgcf`j ~[\jg\ijfee\j\ej`klXk`fe[Ë\oZclj`fegif]\jj`fee\cc\ ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< CË8`i[`\gifgfj\[\jX`[\jÔeXeZ` i\jXZZfi[\jgXi leZfd`k[\j\e^X^\d\ekjZfdgfj[Ë\og\ikjjlicXYXj\ [\jZfeZclj`fej[Ële\\og\ik`j\$Zfej\`c[\jgifa\kjiXc`j\ gXic\jZ_Xi^j[Ëkl[\j[\cË8`i[`\#gij\ekj[XejZ_XZle [\j[gXik\d\ekjZflm\ikj% :FFI;FEEy<J =`eXeZ\lijfc`[X`i\$8[i\jj\j` ^\jfZ`Xc (il\:`k9\efk$*+'''Dfekg\cc`\i Kc%1'+-.(,''('$=Xo1'+-.))(/(, <$dX`c1ZfekXZk7X`i[`\%fi^ GX^\+) C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fegflicË\dgcf`[\jZX[i\j8g\Z 8JJF:@8K@FEGFLICË<DGCF@ ;<J:8;I<J8G<: D@JJ@FEJ 8Zk\lidXa\li[ldXiZ_[\cË\dgcf`ZX[i\\e=iXeZ\# cË8g\Z\jkc\gXik\eX`i\[\j\eki\gi`j\jgflic\i\Zilk\d\ek [\c\lijZX[i\j\kXZZfdgX^e\c\jZX[i\j~kflk\jc\jkXg\j [\c\lim`\gif]\jj`fee\cc\gi\d`\i\dgcf`#dfY`c`k# mfclk`fegif]\jj`fee\cc\¿ %8lafli[Ë_l`#)/'''\eki\gi`j\j \k+-''''ZX[i\jlk`c`j\ekc\jj\im`Z\j[\cË8g\Z% CË8g\ZZfej\`cc\c\j\eki\gi`j\j CË8g\ZZfej\`cc\c\jgif]\jj`fee\cj[\ji\jjfliZ\j_ldX`e\j dX`jXljj`c\jdXeX^\ijfgiXk`fee\cj\kc\j[`i`^\Xekj [\GD<$GD@gflic\liji\Zilk\d\ekj[\ZX[i\j% ,/'gif]\jj`fee\cj[li\Zilk\d\ekjfek~c\lij\im`Z\ gXikflk\e=iXeZ\gflic\jX`[\i~Zfdgi\e[i\c\dXiZ_ [\cË\dgcf`ZX[i\#[Ôe`ic\jZfdgk\eZ\jhlË`cji\Z_\iZ_\ek \k\eki\i\eZfekXZkXm\Z[\jZXe[`[Xkj[fekc\jgifÔcj Zfii\jgfe[\ekXlogfjk\j~gflimf`i% CË8g\ZZfej\`cc\c\jZX[i\j CË8g\ZXZZfdgX^e\c\jZX[i\j#\eXZk`m`kfl\ei\Z_\iZ_\ [Ë\dgcf`#~kflk\jc\jkXg\j[\c\limfclk`fegif]\jj`fee\cc\% CË8g\Zc\jX`[\~`[\ek`Ô\ic\ligifYcdXk`hl\#mXcl\i c\lijZfdgk\eZ\j#c\liZ_Xdg[\gifjg\Zk`fe\k~Y`\e fiZ_\jki\ic\lii\Z_\iZ_\% <e\eki\gi\e\li`Xk CË8g\Z`ek\im`\ek\eki\Xlki\jjlic\jgifa\kj[Ë\eki\gi\e\li`Xk ZiXk`fe&i\gi`j\[Ë\eki\gi`j\ \e`e]fidXek#jl^^iXek# Zfej\`ccXek\kfi`\ekXekc\jZX[i\j%<cc\Xo\gi`eZ`gXc\d\ek jfe\og\ik`j\[XejZ\[fdX`e\jlic\gfik\li[\gifa\k# j\jdfk`mXk`fej#Zfdgk\eZ\j#Xgk`kl[\j#\ek\eXekZfdgk\ [lkpg\[\gifa\k\em`jX^Zfdd\iZ`Xc#j\im`Z\#`e[ljki`\c¿ % CË8g\ZeËXgXjgflid`jj`fe[\mXc`[\ifl\og\ik`j\i ÔeXeZ` i\d\ek#Zfdd\iZ`Xc\d\ekflali`[`hl\d\ekc\jgifa\kj% ),Zfej\`cc\ijjgZ`Xc`jj[Xejc\[fdX`e\[\cXZiXk`fe& i\gi`j\[Ë\eki\gi`j\X^`jj\ekZfdd\ZfejlckXekj i\jjfliZ\jXlgi j[\cË\ej\dYc\[\jZfejlckXekj8g\Z% CË8g\ZkiXmX`cc\\ekif`k\i\cXk`feXm\Zc\jgi`eZ`gXlo fi^Xe`jd\jeXk`feXlo\ki^`feXlo[\cXZiXk`fe& i\gi`j\[Ë\eki\gi`j\Zfdd\cË8G:<#c\j::@#cË8G:D¿ ¿& GX^\+* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fegflicË\dgcf`[\jZX[i\j8g\Z 9yEy=@:@8@I<J :X[i\j\eXZk`m`k :X[i\j\ei\Z_\iZ_\[Ë\dgcf` A\le\j[`gcdj`ejZi`kj~cË8g\Z ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< [Xejc\ZX[i\[\cË\eki\gi\e\li`Xk1 ile`fejjlicXZiXk`fe&i\gi`j\[Ë\eki\gi`j\j \eki\k`\ej[Xejc\ZX[i\[\cËXZZfdgX^e\d\ek ~cXi\Z_\iZ_\[Ë\dgcf` Z_XkjjlicXZiXk`fe&i\gi`j\[Ë\eki\gi`j\ k\dgj]fikXeel\cjlicXZiXk`fe\ki\gi`j\[Ë\eki\gi`j\ Xk\c`\ijk_dXk`hl\jjlic\jgifa\kjZiXk`fe&i\gi`j\ jlic\jj`k\j8g\ZZX[i\j\kA[#f]]i\j[\Z\jj`fe [Ë\eki\gi`j\dXeXek[\j`k\jgXik\eX`i\j 8G:<#8G:D#=ljXZh#==9#Gif$XeefeZ\j# KiXejZfdd\iZ\j\kY`\ekk:I8#::@¿ :FFI;FEEy<J :\eki\8g\Z[\Dfekg\cc`\i (.'il\Cfe9cld:J00'*+ *+0-.Dfekg\cc`\iZ\[\o) Kc%1'+-.(*+*'' GX^\++ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fei^`feXc\[\j`e[ljki`\jX^ifXc`d\ekX`i\j8i`XCI 8JJF:@8K@FEIy>@FE8C< ;<J@E;LJKI@<J8>IF8C@D<EK8@I<J 8I@8CI D@JJ@FEJ CË8i`X\jkle\XjjfZ`Xk`fe[\[`i`^\Xekj[Ë\eki\gi`j\j X^ifXc`d\ekX`i\j[lCXe^l\[fZ$Ifljj`ccfe#hl`Zfdgk\ ()'\eki\gi`j\jX[_i\ek\j#KG<#GD<\k^iXe[j^iflg\j# `jjlj[\(*YiXeZ_\j[ËXZk`m`k#i\gij\ekXek.'[lgf`[j Zfefd`hl\[lj\Zk\liX^ifXc`d\ekX`i\i^`feXc% CË8i`X\jkle[\jgXik\eX`i\jgif]\jj`fee\cj\eZ_Xi^\ [lg`cfkX^\[l:=88:fekiXk[\=`c` i\8^ifXc`d\ekX`i\ \e^X^gXicXI^`fe\e)''-% J\jd`jj`fejjfek1 i\gij\ek\ic\j\eki\gi`j\j\kc\j\Zk\liX^ifXc`d\ekX`i\ i^`feXcefkXdd\ekXlgi j[\jgflmf`ijglYc`Zj# ][i\ic\j\eki\gi`j\j# XZZfdgX^e\ic\j\eki\gi`j\jgflicËfgk`d`jXk`fe [\c\lijg\i]fidXeZ\j% 9yEy=@:@8@I<J :[Xekjfli\gi\e\lijgXik`Zlc`\ijfl\eki\gi`j\j jfl_X`kXekki\X`[j[XejcXi\gi`j\[Ë\eki\gi`j\ X^ifXc`d\ekX`i\\eCXe^l\[fZ$Ifljj`ccfe% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< 8ggl`~cXkiXejd`jj`fe\k~cXi\gi`j\[Ë`e[ljki`\j X^ifXc`d\ekX`i\j8ki`X 8ggl`g\ijfeeXc`jXloZ[Xekj1 i\Z_\iZ_\[\i\gi\e\lijZfii\jgfe[XekXlgifÔc [Ôe`^iZ\~le\gXi]X`k\ZfeeX`jjXeZ\[\cXÔc` i\ X^ifXc`d\ekX`i\i^`feXc\# d`j\\ei\cXk`fe# X`[\~cXe^fZ`Xk`fe# XZZfdgX^e\d\ekg\e[Xekkflkc\gifZ\jjlj [\kiXejd`jj`fe% ¿& GX^\+, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jjfZ`Xk`fei^`feXc\[\j`e[ljki`\jX^ifXc`d\ekX`i\j8i`XCI 8ggl`g\ijfeeXc`jXloi\gi\e\lij1 [Ôe`k`fe[lgifa\k[\i\gi`j\# d`j\\ei\cXk`feXm\Z[\j\eki\gi`j\j~kiXejd\kki\ ^iZ\~le\gXi]X`k\ZfeeX`jjXeZ\[\cXÔc` i\ X^ifXc`d\ekX`i\i^`feXc\# X`[\~cXe^fZ`Xk`fe[\jÔeXeZ\d\ekj# cXYfiXk`fe[ËlegXiZflij[\]fidXk`fe`e[`m`[lXc`j# jl`m`[\cXi\gi`j\% :[XekjflI\gi\e\lij @e]fidXk`fe 8ZZl\`c Fi`\ekXk`fe EXkli\ [\jgi\jkXk`fej :fejk`klk`fe [Ële[fjj`\i 8ZZl\`c :fej\`c 8`[\~cXi\Z_\iZ_\ i\gi\e\lijfl\eki\gi`j\j ~Z[\i =fidXk`fe D`j\\e i\cXk`fe ycXYfiXk`fe[Ële gXiZflij[\]fidXk`fe g\ijfeeXc`j 8`[\XlodfekX^\j ÔeXeZ`\ij\kXggl` ~cXe^fZ`Xk`fe Jl`m`[\cXi\gi`j\ :FFI;FEEy<J 8i`X$CI 8^ifgfc`j`ek\ieXk`feXc 8m\el\8^ifgfc`j *+*0+Dfekg\cc`\iZ\[\o, Kc%1'+-.'+.,)'fl)( =Xo1'+-.'+.,(0 <$dX`c1Xi`X$ci7X^ifgfc`j%]i GX^\+- C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jj\[`ZCXe^l\[fZ$Ifljj`ccfe 8JJ<;@:C8E>L<;F:$IFLJJ@CCFE D@JJ@FEJ CË8jj\[`ZCXe^l\[fZ$Ifljj`ccfe\jklefi^Xe`jd\gXi`kX`i\ hl`^ i\c\i^`d\[ËXjjliXeZ\Z_dX^\% J\jgi`eZ`gXc\jd`jj`fejjfek1 X]Ôc`\ic\j\dgcfp\lij\ki\Zflmi\ic\lijZfeki`Ylk`fej X`ej`hl\Z\cc\j[\jjXcXi`j# gifZ[\i~cË`ejZi`gk`fe[\j[\dXe[\lij[Ë\dgcf` \km\ij\ic\jXccfZXk`fej[\i\kfli~cË\dgcf`#c\jX`[\j ~cX]fidXk`fe#~cË\dYXlZ_\#~cXdfY`c`k#Xl i\ZcXjj\d\ek#~cXi\gi`j\fl~cXZiXk`fe[Ë\eki\gi`j\# Xjjli\ic\jl`m`[\jgifa\kjg\ijfeeXc`jj[ËXZZ j ~cË\dgcf`GG8< [Xejc\ZX[i\[\cËXZZfdgX^e\d\ek Xli\kfli~cË\dgcf`# m\ij\ic\jXccfZXk`fejÔeXeZ\jgXicËykXki^`d\j [\cXjfc`[Xi`k\k[\cXgii\kiX`k\ # i\jk\iXlgcXecfZXc\ei\cXk`feg\idXe\ek\Xm\Z c\jj\im`Z\jglYc`Zjflfi^Xe`jd\j[fekc\jXZk`m`kj ZfeZ\ie\ekcË\dgcf`8EG<#;;K<=G#8g\Z % 9yEy=@:@8@I<J Jligi\jZi`gk`fe[\cË8EG<#jfekjljZ\gk`Yc\j[\YeÔZ`\i [\jX`[\jXli\kfli~cË\dgcf`1 c\j[\dXe[\lij[Ë\dgcf`YeÔZ`X`i\j[\cËXccfZXk`fe [ËX`[\Xli\kfli~cË\dgcf`# c\j\dgcfp\lijZfk`jXekjXli^`d\[ËXjjliXeZ\Z_dX^\ \k~afli[\c\liZfeki`Ylk`fe% <eki\ek[Xejc\Z_Xdg[ËXggc`ZXk`fe[\cËXjjliXeZ\Z_dX^\1 c\j\dgcfp\lij[lj\Zk\ligi`mj`klj\e=iXeZ\# gflicË\ej\dYc\[\c\lijjXcXi`j#pZfdgi`jc\jjXcXi`j [kXZ_j~cËkiXe^\iX`ej`hl\c\jkiXmX`cc\lij]iXeX`j \ogXki`j%:\g\e[Xek#c\j\dgcfp\lijglYc`Zjfek cXgfjj`Y`c`k[\ZfeÔ\icX^\jk`fe[\cË`e[\de`jXk`fe Xli^`d\[ËXjjliXeZ\Z_dX^\#\eZfeZclXek le\Zfem\ek`fe[\^\jk`feXm\ZcË8jj\[`Z%:\ikX`ej \dgcfp\lijglYc`Zjg\lm\ekfgk\ijl`mXekc\lieXkli\ ali`[`hl\\kgfliZ\ikX`e\jZXk^fi`\j[\jXcXi`j gflicËX[_j`feXli^`d\[ËXjjliXeZ\Z_dX^\% ¿& GX^\+. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 8jj\[`ZCXe^l\[fZ$Ifljj`ccfe ;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< ;\lod\jli\jjfekjljZ\gk`Yc\j[\mflj`eki\jj\i1 cËX`[\~cXi\gi`j\[Ë\eki\gi`j\jflj]fid\[ËleZXg`kXc m\ijXl[Ylk[\mfki\XZk`m`k# c\dX`ek`\ek\dgfiX`i\[Ële\gXik`\[\mfjXccfZXk`fej Z_dX^\g\e[XekcXg_Xj\[\[dXiiX^\% :\j[\logfjj`Y`c`kje\jfekgXjZldlcXYc\j% J\cfemfki\j`klXk`fe#mfljgflii\qYeÔZ`\i[\cËle\ flcËXlki\[\Z\jd\jli\j% :FFI;FEEy<J CË8jj\[`ZCXe^l\[fZ$Ifljj`ccfe \jkgij\ek\jli)+j`k\j[ËXZZl\`c% Mfljgflm\qfYk\e`ikflk\jc\j`e]fidXk`fej ZfeZ\ieXekmfki\j`klXk`fepZfdgi`jc\j X`[\j~cXi\gi`j\flZiXk`fe[Ë\eki\gi`j\ \eZfejlckXekjli`ek\ie\kc\j`k\1 nnn%Xjj\[`Z%]iZfejlck\i\egXik`Zlc`\i cXefk`Z\[Ë`e]fidXk`fe;8A),. fl\e ZfekXZkXekc\ij\Xl8jj\[`Z\eXgg\cXek c\'/(('('(¿jl`m`[leldif [\mfki\[gXik\d\ek% GX^\+/ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 9q`\ijD[`k\iiXe\\ogXej`fe 9yQ@<IJDy;@K<II8Ey<<OG8EJ@FE D@JJ@FEJ 8^\eZ\[\[m\cfgg\d\ekZfefd`hl\Xlj\`e [\cX;`i\Zk`fe[l[m\cfgg\d\ekZfefd`hl\\kkfli`jk`hl\ [\cX:fddleXlk[ËX^^cfdiXk`fe9q`\ijD[`k\iiXe\# jXd`jj`fe\jk[\]Xmfi`j\icXZiXk`fe#cXi\gi`j\# \kc\[m\cfgg\d\ek[\j\eki\gi`j\j\k[\cË\dgcf`jli c\k\ii`kf`i\#\kgcljgXik`Zlc` i\d\ekc\jgifa\kj`e[ljki`\cj \k[\j\im`Z\jXlo\eki\gi`j\j% Jfek\ii`kf`i\[Ë`ek\im\ek`fe\jkij\imXlo(*Zfddle\j [\cX:fddleXlk[ËX^^cfdiXk`fe9q`\ijD[`k\iiXe\ 9XjjXe#9q`\ij#9flaXe$jli$C`Yife#:\ij#:fie\`c_Xe# <jgfe[\`c_Xe#C`\liXe$c\j$9q`\ij#C`^eXe$jli$FiY#JXlm`Xe# Ji`^eXe#J\im`Xe#MXciXjGcX^\#M`cc\e\lm\$c\j$9q`\ij % 9yEy=@:@8@I<J 9q`\ijD[`k\iiXe\\ogXej`fejflk`\ekcXi\gi`j\ [\j\eki\gi`j\jhl`jË`ejZi`m\ek[Xejc\jj\Zk\lijjl`mXekj1 Xik`jXeXk `e[ljki`\ j\im`Z\j~cË`e[ljki`\ Zfdd\iZ\[\^ifj j\im`Z\j\o\iXekgi`fi`kX`i\d\ek[Xejc\j[fdX`e\j [\jk\Z_efcf^`\j[\cË`e]fidXk`fe\k[\cXZfddle`ZXk`fe ;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< 8ZZl\`c[\jgfik\lij[\gifa\k 8ZZfdgX^e\d\ekflfi`\ekXk`fe#d`j\\eij\Xl Xm\Zc\jXZk\lijcfZXlofli^`feXlo Flk`cjiXc`jj\k\eZflij1^l`[\[\cXZiXk`fe [Ë\eki\gi`j\#gcXe$^l`[\[\jgXiZj[ËXZk`m`kj#Yflij\ XlocfZXlojli`ek\ie\k#gg`e` i\[Ë\eki\gi`j\j#_k\c [Ë\eki\gi`j\j ¿& GX^\+0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 9q`\ijD[`k\iiXe\\ogXej`fe Gfik\li[\gifa\k @e]fidXk`feÆ8ZZl\`c Ifi`\ekXk`fe EXkli\ [\jgi\jkXk`fej 8ZZl\`c :fej\`c Gi$[`X^efjk`Z GcXe[ËXZk`fe Ifi`\ekXk`fe 8`[\~cXi\Z_\iZ_\ [Ë\eki\gi`j\j~Z[\i fl~i\gi\e[i\ :fej\`c1mXc`[Xk`fe[lgifa\k# `e^e`\i`\ÔeXeZ` i\¿ D`j\\ei\cXk`feXm\Zc\jgXik\eX`i\j# \eki\gi`j\j#ij\XloYXeZX`i\j¿ 8`[\XldfekX^\[\ [fjj`\ij[ËX`[\ÔeXeZ` i\ Jl`m`gfjk$i\gi`j\ :FFI;FEEy<J 9q`\ijD[`k\iiXe\\ogXej`fe )+Xm\el\A\Xe=flZXlck *+,''9q`\ij Kc%1'+-..-.0'' =Xo1'+-..-.0(* <$dX`c1\Zfefd`\7Y\q`\ij$X^^cf%fi^ nnn%Y\q`\ij$\ogXej`fe%fi^ GX^\,' C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 9flk`hl\j[\^\jk`fe[lCXe^l\[fZ$Ifljj`ccfe 9FLK@HL<J;<><JK@FE ;LC8E>L<;F:$IFLJJ@CCFE D@JJ@FEJ C\j9flk`hl\j[\^\jk`fefekgflid`jj`fe[Ë\eZfliX^\i cË`e`k`Xk`m\\k[\jflk\e`ic\jgfik\lij[\gifa\k[\ZiXk`fe fl[\i\gi`j\[Ë\eki\gi`j\% C\jZfej\`cc\ijXggfik\ekc\liXggl`Xlogfik\lij[\gifa\k \kZXe[`[Xkj~cXi\gi`j\gflij`kl\ic\gifa\k[Xej le\[dXiZ_\^cfYXc\[\ZiXk`fefli\gi`j\[Ë\eki\gi`j\ \kjËXkkXZ_\ek~dfY`c`j\ic\jgXik\eX`i\jgflic\jlZZ j [\cË\eki\gi`j\ÔeXeZ\d\ekj#Xlki\jZ_\]j[Ë\eki\gi`j\j# Zflm\lj\j#\og\ikjjgZ`Xc`jj¿ % C\j9flk`hl\j[\^\jk`fe#Xlgcljgi j[\c\lik\ii`kf`i\# XZZfdgX^e\ekcXiXc`jXk`fe[\cËkl[\[\]X`jXY`c`k# cXi\Z_\iZ_\[\ÔeXeZ\d\ek\kc\dfekX^\[l[fjj`\i [\ÔeXeZ\d\ek% :\kXggl`\jkfi^Xe`jjflj]fid\[\Zfej\`c`e[`m`[lXc`j \k&fl\ek\dgjZfcc\Zk`]jXk\c`\ij#jkX^\j¿ % C\j9flk`hl\j[\^\jk`fe`ek\im`\ee\ekgflicXd`j\\egcXZ\ \kcXgi\ee`jXk`fe[\cËXZk`m`kaljhlË~)+df`jXgi j cXZiXk`feflcXi\gi`j\[\cË\eki\gi`j\% 9yEy=@:@8@I<J C\j9flk`hl\j[\^\jk`fei\f`m\ekkflk\g\ijfee\ hl`gfik\legifa\k[\ZiXk`fefl[\i\gi`j\[Ë\eki\gi`j\ gflicXi\ej\`^e\i#cXZfej\`cc\i#cËX`[\i~]iXeZ_`i c\j[`]]i\ek\jkXg\j% ¿& GX^\,( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej 9flk`hl\j[\^\jk`fe[lCXe^l\[fZ$Ifljj`ccfe 9FLK@HL<;<><JK@FE1;L:FEJ<@C# ;LJL@M@GFLII<GI<E;I<LE<<EKI<GI@J< Gfik\li[\gifa\k I\gi\e\li EXkli\ [\jgi\jkXk`fej 8ZZl\`c :fej\`c @e]fidXk`feÆ8ZZl\`c Ifi`\ekXk`fe =fidXk`fe 8ZZfdgX^e\d\ek [Xejkflk\jc\jkXg\j [\cXZiXk`fe$i\gi`j\ [\cË\eki\gi`j\ =fidXk`fe Xldk`\i[\Z_\] [Ë\eki\gi`j\ I\gi`j\ Jl`m`gfjk$i\gi`j\ C\j9flk`hl\j[\^\jk`fefi^Xe`j\ekZ_Xhl\Xee\ c\ZfeZflijKXc\ekjhl`iZfdg\ej\c\jeflm\Xlo \eki\gi\e\lij\ki\gi\e\lijgflicËfi`^`eXc`k \kcË\o\dgcXi`k[\c\ligXiZflij%KXc\ekjZfeki`Yl\ ~gifdflmf`ic\j[dXiZ_\j\eki\gi`j\j\eXdfek \k\eXmXc[\cXZiXk`fe\k~`[\ek`Ô\ic\j]XZk\lij$Zcj hl`gXik`Z`g\ifek~cXiljj`k\\k~cXgi\ee`jXk`fe [Ëlegifa\k% GX^\,) :FFI;FEEy<J 8l[\ 9flk`hl\[\^\jk`fe[lEXiYfeeX`j Ij`[\eZ\ác\M\ik\$*hlX`MXcc` i\ (('''EXiYfee\ Kc%1'+-/0'(+*+ <$dX`c1 Yflk`hl\[\^\jk`fe%eXiYfeeX`j7nXeX[ff%]i >Xi[ 8c j 8iZX[\c:fej\`c 9q`\ij 9flk`hl\[\^\jk`fe[l9`k\iif`j ))il\Cfl`jDXcYfjZ *+,''9q`\ij Kc%1'+-.*,)'+' <$dX`c1 Yflk`hl\^\jk`fe%Y`k\iif`j7nXeX[ff%]i Dfekg\cc`\i 9flk`hl\[\^\jk`fe8<;< (*)-Z_\d`eJfljJX`ek$<k`\ee\ *'(''8c j Kc%1'+--,+)(,' <$dX`c1 XiZX[\c7Yflk`hl\j$[\$^\jk`fe%Zfd *il\GX^qp *+'''Dfekg\cc`\i Kc%1'+-.,/+/+, <$dX`c1 X\[\%Y^d7nXeX[ff%]i 9X^efcj$jli$: q\ 8i[Xe^\ J k\ 9flk`hl\[\^\jk`fe[l9Xjj`e [\K_Xl *)il\8e[iK_fd\ *')''9X^efcj$jli$: q\ Kc%1'+--/0/,/. <$dX`c1Y^%Xi[Xe^\7nXeX[ff%]i Ed\j 8ig ^\ /Yflc\mXi[EXkf`i\ *''''Ed\j Kc%'+--'+''*0 <$dX`c1 Y^%e`d\j7Yflk`hl\j$[\$^\jk`fe%Zfd ?iXlck Cle\c 9flk`hl\[\^\jk`fe[l GXpj[\Cle\c .il\[\cXJXmfee\i`\ *+)''J k\ Kc%1'+-../)0+. <$dX`c1 Yflk`hl\^\jk`fe%j\k\7nXeX[ff%]i Gpie\j$Fi`\ekXc\j 8ZZ j-Ij`[\eZ\?CDJk8jj`jZc\ 8m\el\[Ë8k_ e\j --'''G\ig`^eXe Kc%1'+-/,+*-'0 <$dX`c1 Y^%XZZ\j--7ZclY$`ek\ie\k%]i (..9Xm\el\Cfl`jCld` i\ *++''Cle\c Kc%1'+-./*)-*) <$dX`c1Y^%cle\c7nXeX[ff%]i GX^\,* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :[Xekj\ki\gi\e\lij[ËX]]X`i\j:I8 :y;8EKJ<KI<GI<E<LIJ ;Ë8==8@I<J:I8 D@JJ@FEJ :i\e(0/.#c\:I8:[Xekj\ki\gi\e\lij[ËX]]X`i\j XgflifYa\k[\]Xmfi`j\ic\iXggifZ_\d\ek[\jZ[Xekj \ki\gi\e\lij[\GD<$GD@#\efi^Xe`jXekc\jZfekXZkj `e[`jg\ejXYc\j\eki\Z[Xekj#i\gi\e\lij\k\og\ikj% CËXjjfZ`Xk`fe#hl`Zfdgk\[\gl`jjfefi`^`e\gclj [\(/'''X[_i\ekj#XgXik`Z`g~cXjXlm\^Xi[\[\gclj [\*''''\dgcf`j%8e`dYemfc\d\ekgXi[ËXeZ`\ej [`i`^\XekjflZX[i\jjlgi`\lij[Ë\eki\gi`j\d\kkXek c\lijZfdgk\eZ\jXlj\im`Z\[\jGD<$GD@#c\:I8 g\id\k~gclj[Ële\X]]X`i\jlihlXki\[\j\ZfeZcli\ gXile\kiXejXZk`fe% 9yEy=@:@8@I<J C\jZ[Xekj\kc\ji\gi\e\lij[\GD<$GD@% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< M`Xc\j`k\`ek\ie\k[l:I8#nnn%ZiX$Xjjf%fi^# c\j(,''X[_i\ekji\gi\e\lijg\lm\ekZfejlck\i legfik\]\l`cc\[ËX]]X`i\jZfdgfikXek\edfp\ee\ -''f]]i\jd`j\j~aflii^lc` i\d\ek%C\jZ[Xekj [\c\liZkgfliifekjc\Zk`fee\i[\ji\gi\e\lij gXid`c\j+''XeefeZ\ji\gi\e\lij[lj`k\% C\:I8gifgfj\1 [\jjkX^\j[\]fidXk`fe~cXi\gi`j\[Ë\eki\gi`j\ \k[\jaflie\j[\j\ej`Y`c`jXk`fe~cXZ\jj`fe fi^Xe`jj~GXi`j\kCpfeZiX%]fidXk`fe7ZiX$Xjjf%fi^ Xm\Zc\ZfeZflij[\gif]\jj`fee\cj[\cXkiXejd`jj`fe% GX^\,+ @cfi^Xe`j\^Xc\d\ek1 [\j^iflg\j[\i\gi\e\lij[\/~('ZXe[`[Xkj m\eXek[Ë_fi`qfejXljj`mXi`jhl\gfjj`Yc\%CËfYa\Zk`] [\Z\j^iflg\j\jk[\gXcc`\icË`jfc\d\ek[\ji\gi\e\lij \k[\c\li[fee\i\eled`e`dld[\k\dgjledfiXc [\½gXkife¾# [\jile`fejd\ejl\cc\j[Ë`e]fidXk`fe$[YXkj# cËXjj`jkXeZ\XldfekX^\[\j[fjj`\ij[\Z[Xekj \ekflk\ZfeÔ[\ek`Xc`kZ[Xekj\ki\gi\e\lijeË\eki\ek \eZfekXZkhlËXgi jXZZfi[[\j`eki\jjj #leij\Xl [\,0[c^Xk`feji^`feXc\j\kgclj[\(-'[c^lj hl`Xjj`jk\ekZ[Xekj\ki\gi\e\lij[Xejc\lii\Z_\iZ_\% :FFI;FEEy<J ÁDfekg\cc`\i DX`jfe[\jgif]\jj`fejc`YiXc\j )/,Xm\el\8c]i\[EfY\c *+'''Dfekg\cc`\i Kc%1'+00,(,**/ =Xo1'+00,(,**/ <$dX`c1ZiX%dfekg\cc`\i7ZiX$Xjjf%fi^ 8ZZl\`ckcg_fe`hl\[lcle[`Xlm\e[i\[` Jlii\e[\q$mflj ÁG\ig`^eXe :&FLG<-(.il\:Xd`cc\G\cc\kXe --'''G\ig`^eXe Kc%1'+-/*+00)<$dX`c1ZiX%g\ig`^eXe7ZiX$Xjjf%fi^ GX^\,, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :\eki\[\i\jjfliZ\jgflicË\eki\gi\e\li`Xk]d`e`eCXe^l\[fZ$Ifljj`ccfe:I<=CI :<EKI<;<I<JJFLI:<J GFLICË<EKI<GI<E<LI@8K=yD@E@E C8E>L<;F:$IFLJJ@CCFE:I<=CI D@JJ@FEJ C\:\eki\[\i\jjfliZ\jgflicË\eki\gi\e\li`Xk]d`e`e :I<= #XkZi\e)'''gXicX;c^Xk`fe[\j]\dd\j Z_\]j[Ë\eki\gi`j\j[\cË?iXlck=:<D XÔe[ËXZZfdgX^e\i Yemfc\d\ekc\j]\dd\jgfik\lj\j[Ëlegifa\k[\ZiXk`fe fl[\i\gi`j\[Ë\eki\gi`j\\kc\jeflm\cc\j\eki\gi\e\lj\j% CËfYa\Zk`]\jk[\c\liXggfik\icË\ogi`\eZ\[\k\iiX`e [Ë\eki\gi\e\lj\jXm\ZY`\em\`ccXeZ\\kiXc`jd\#[\c\liflmi`i c\jij\XloZfefd`hl\j#[\]XZ`c`k\ic\liji\cXk`fejXm\Zc\j YXehl\j\k[\c\jX`[\i~gi\e[i\cXd\jli\[\ji\jgfejXY`c`kj hlË\ekiXe\c\]X`k[\[\m\e`i½Z_\]¾[Ë\eki\gi`j\% C\:I<=XZZl\`cc\#Zflk\#`e]fid\#ifi`\ek\m\ij c\jjkilZkli\jjgZ`Xc`j\j[\cXZiXk`fe[Ë\eki\gi`j\ Z_XdYi\jZfejlcX`i\j#Yflk`hl\j[\^\jk`fe#Zflm\lj\j¿ Z_Xhl\]f`jhl\eZ\jjX`i\%ÁjX[\dXe[\cXZiXki`Z\ g\lkki\½dXiiX`e\¾gXile\Z_\][Ë\eki\gi`j\% 9yEy=@:@8@I<J C\j]\dd\jgfik\lj\j[Ëlegifa\k[\i\gi`j\fl[\ZiXk`fe [Ë\eki\gi`j\\kc\jeflm\cc\j\eki\gi\e\lj\j% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< C\:I<=fi^Xe`j\le\ile`fed\ejl\cc\[Ë`e]fidXk`fe \k[\]fidXk`feZ_Xhl\[\ie`\idXi[`[ldf`jfZ_XZle\g\lk Z_Xe^\i#jË`e]fid\i#kiflm\ile\igfej\~jXgifYcdXk`hl\ [ldfd\ek#k`jj\i[\jc`\ej¿ ;\ji\e[\q$mflj`e[`m`[l\cjXm\Zle\ZfejlckXek\jgZ`Xc`j\ jfekgifgfjjc\(\i\k)\dXi[`[\Z_Xhl\df`j% :FFI;FEEy<J :I<=CI Kc%1'-*(,)+-*, <$dX`c1Zi\Õi7nXeX[ff%]i nnn%Zi\]$]iXeZ\%Zfd GX^\,- C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\[lCXe^l\[fZ$Ifljj`ccfe :?8D9I<J ;<:FDD<I:<<K;Ë@E;LJKI@< ;LC8E>L<;F:$IFLJJ@CCFE D@JJ@FEJ CËX`[\~cXZiXk`fe\kkiXejd`jj`fe[Ë\eki\gi`j\\jkXlZÅli[l dk`\i[\j:_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\hl`Xjjli\ek \eZ\[fdX`e\leic\gigfe[iXek\eCXe^l\[fZ$Ifljj`ccfe% C\j::@#\ekXekhl\(\igfikX`c[ËXZZl\`ceXk`feXc#iXc`j\ek le\d`jj`fe[Ëfi`\ekXk`fe#[ËXZZfdgX^e\d\ek#[\hlXc`ÔZXk`fe \k[\]fidXk`fe[\jgfik\lij[\gifa\kj% 8lZflij[\cËXee\)'',#c\j::@[lCXe^l\[fZ$Ifljj`ccfe fekX`ej`XZZl\`cc`gclj[\(+'''gfik\lij[\gifa\kj\kgi j [\+'''[Ë\eki\\lofekgXik`Z`gXlo½[\d`$aflie\j [Ë`e]fidXk`fe¾hlË\cc\jfi^Xe`j\ekgflic\jX`[\i[Xejc\ [dXiiX^\[\c\liXZk`m`k#\ec\li]flie`jjXekc\dXo`dld [Ë`e]fidXk`fej[\eXkli\i^c\d\ekX`i\\kZfefd`hl\\e Xdfek#\eml\[\Ôcki\i\k[feZ[\i\Z\mf`i#\eg_Xj\jl`mXek\# [\jgfik\lij[\gifa\kjgcljXmXeZj[Xejc\liXggifZ_\% 9yEy=@:@8@I<J Kflk\jc\jZXk^fi`\j[\glYc`ZjXcXi`jfl[\dXe[\lij[Ë\dgcf`# Z_\]j[Ë\eki\gi`j\j\eXZk`m`k g\lm\ekYeÔZ`\i[\cËXggl`[\j::@% C\jj\Zk\lij[ËXZk`m`kjZfeZ\iejjfek1 c\Zfdd\iZ\# c\jj\im`Z\j# cË`e[ljki`\# c\kfli`jd\% ;@JGFJ@K@=J;Ë8GGL@ÁC8KI8EJD@JJ@FE <KÁC8I<GI@J<;Ë<EKI<GI@J<J @e]fidXk`fe#j\ej`Y`c`jXk`fe Fi^Xe`jXk`fe[\dXe`]\jkXk`feji^`feXc\jflcfZXc\j gfli`e]fid\i\kj\ej`Y`c`j\ic\jXZk\lijgi`mj\kglYc`Zj jlicXkiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\ y[`k`fe[\^l`[\j~[\jk`eXk`fe[\jgfik\lij[\gifa\kj Fi^Xe`jXk`fe[\[\d`$aflie\j[Ë`e]fidXk`feZfcc\Zk`m\j gflifi`\ek\ic\jgfik\lij[\gifa\kj ¿& GX^\,. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\[lCXe^l\[fZ$Ifljj`ccfe 8ZZfdgX^e\d\ekg\ijfeeXc`j ;dXiZ_\hlXc`k½\eki\gi\e[i\\e=iXeZ\¾ ;`X^efjk`Z[\j\eki\gi`j\j~Z[\i :fej\`cj`e[`m`[l\cjXldfekX^\\khlXc`ÔZXk`fe [\jgifa\kj[\i\gi`j\[Ë\eki\gi`j\j1]X`jXY`c`kk\Z_e`hl\# Zfefd`hl\#_ldX`e\#Zfdd\iZ`Xc\\kÔeXeZ` i\ 8`[\XldfekX^\[\[fjj`\ij GXik\eXi`XkXm\ZcXI^`feCXe^l\[fZ$Ifljj`ccfe [Xejc\ZX[i\[lgif^iXdd\i^`feXcG8:K< D`j\\eij\Xl[\jgfik\lij[\gifa\kj#ZiXk\lij \ki\gi\e\lijXlgi j[\j\eki\gi`j\j\eXZk`m`k Jl`m`[\ja\le\jZiXk\lij&i\gi\e\lij1gXZba\le\ \eki\gi\e\li#gifgfjgXicX::@[\Ed\j D`j\\ei\cXk`feg\ijfeeXc`j\\kZfeÔ[\ek`\cc\ [\jZ[Xekj\k[\ji\gi\e\lij =fidXk`fej JkX^\½,aflijgfli\eki\gi\e[i\¾1 ]fidXk`fegfliXZhli`ic\jgi`eZ`g\j\jj\ek`\cj [\Zfe[l`k\[Ëlegifa\k[\ZiXk`fe$i\gi`j\ yZfc\[\jdXeX^\ij1]fidXk`fe[\,,aflijjli (*df`j[[`\Xloi\gi\e\lij#Z\eki\jlic\[`X^efjk`Z jkiXk^`hl\\kc\[m\cfgg\d\ek[\cË\eki\gi`j\ ~i\gi\e[i\#gi\jkXk`fegifgfj\gXicX::@[\Ed\j ;\jflk`cjjgZ`Ôhl\j GD@:fekXZk ;`jgfj`k`]`ek\ii^`feXcgifgfjXekXlo\eki\gi`j\j`e[ljki`\cc\j \kXlogXik`Zlc`\ij[\jf]]i\j[\Z\jj`fe#[\i\gi`j\#[ËXggfik [\ZXg`kXlo#[\iXggifZ_\d\ekZfdd\iZ`Xc\kk\Z_efcf^`hl\# \ec`^e\jlic\j`k\`ek\ie\knnn%gd`ZfekXZk%e\k\k[`k\j jflj]fid\[\c\kki\[ËX]]X`i\jhlX[i`d\jki`\cc\% 8:K:fekXZk 9lcc\k`e[Ëfggfikle`kj[ËX]]X`i\j#8:K:fekXZk\jk[\jk`e Xlo\eki\gi`j\j[\g\k`k\kX`cc\[\jj\Zk\lij[\cËXik`jXeXk \k[lZfdd\iZ\#8:K:fekXZk\jkle[`jgfj`k`]`ek\ii^`feXc \ec`^e\jlic\j`k\`ek\ie\knnn%XZkZfekXZk%e\khl`j\ [Zc`e\^Xc\d\ekjflj]fid\[Ëlejlggfik[\glYc`ZXk`fe hlX[i`d\jki`\c[`jki`Yl~gclj[\.'''\o\dgcX`i\j jlicË\ej\dYc\[lk\ii`kf`i\i^`feXc% GX^\,/ :FFI;FEEy<J :_XdYi\i^`feXc\[\ Zfdd\iZ\\k[Ë`e[ljki`\ CXe^l\[fZ$Ifljj`ccfe nnn%cXe^l\[fZ$ifljj`ccfe%ZZ`%]i ::@[Ë8c j:m\ee\j )il\D`Z_\c\k$9G0''+0 *'('(8c jZ\[\o Kc%1'+--./+0+0 =Xo1'+--./+0'' nnn%Xc\j%ZZ`%]i :fekXZk1gc\ZiXk`fe kiXejd`jj`fe[Ë\eki\gi`j\ ::@[\9q`\ijÆ JX`ek$Gfej )-Xcc\GXlcI`hl\k 9G*.( *+,'+9q`\ijZ\[\o Kc%1'+-./'0/'0 =Xo1'+-./'0/(' nnn%Y\q`\ij%ZZ`%]i :fekXZk18l[i\p >@FI;8EF :_Xi^\[\d`jj`fe :iXk`fe$kiXejd`jj`fe ::@[\:XiZXjjfee\ C`dflo$:Xjk\ceXl[Xip *Yflc\mXi[:Xd`cc\ G\cc\kXe ((/0':XiZXjjfee\Z\[\o0 Kc%1'+-/('*-'' =Xo1'+-/('*-') nnn%ZXiZXjjfee\%ZZ`%]i :fekXZk1Fc`m`\i;8IC<J ::@[\cXCfq i\ (-Yflc\mXi[[\JflY\piXe 9G/( +/'')D\e[\Z\[\o Kc%1'+--+0''** =Xo1'+---,*,)0 nnn%cfq\i\%ZZ`%]i :fekXZk1 EXk_Xc`\<JK<M<J :_\][\j\im`Z\ ½<eki\gi`j\j¾ ::@[\Dfekg\cc`\i 9k`d\ek::@ <eki\gi`j\j <eki\Qfe\XifgfiklX`i\ Dfekg\cc`\iD[`k\iiXe\ *+0++Dfekg\cc`\iZ\[\o0 Kc%1'+00,(,*'0 nnn%dfekg\cc`\i%ZZ`%]i :fekXZk1 D`jj`feZiXk`fe$i\gi`j\ ::@[\Ed\j ()il\[\cXIglYc`hl\ *''*)Ed\jZ\[\o( Kc%1'+--/.00)) =Xo1'+--*--('' nnn%e`d\j%ZZ`%]i :fekXZkj1 >iXi[C<A8EEFL& KI\eki\gi`j\jZfdd\iZ\ \kj\im`Z\ ;`[`\i>@I8L;& KI\eki\gi`j\jZfdd\iZ\ [\^ifj\k`e[ljki`\j ::@[\G\ig`^eXe\k[\jGF HlX`[\CXkki\[\KXjj`^ep 9G('0+( --')'G\ig`^eXeZ\[\o Kc%1'+-/*,--** =Xo1'+-/*,-.(' nnn%g\ig`^eXe%ZZ`%]i :fekXZkj18cX`eA8:HL@<I& 8ZZfdgX^e\d\ek[\jZ[Xekj :_i`jk`Xe\8KF& 8ZZfdgX^e\d\ek[\j i\gi\e\lij ::@[\J k\Æ =ifek`^eXe$D q\ )hlX`G_`c`gg\I^p 9G(-0$*+)'*J k\Z\[\o Kc%1'+-.+-)/)/ =Xo1'+-.+-)/(/ nnn%j\k\%ZZ`%]i :fekXZkj1@e^i`[KI<9LHL<K& KI\eki\gi`j\Zfdd\iZ\ \kj\im`Z\ D`Z_ c\G8I;F& KI\eki\gi`j\j`e[ljki`\ ::@[\EXiYfee\ Cq`^eXe$:fiY` i\j \kGfik$cX$Eflm\cc\ (Xm\el\[l=fild Q@:if`ojl[$9G.('( ((./(EXiYfee\Z\[\o Kc%1'+-/+).((( =Xo1'+-/+).(() :fekXZk1:Xk_\i`e\8M@C8& <jgXZ\\eki\gi\e[i\ GX^\,0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :_XdYi\j[\dk`\ij\k[\cËXik`jXeXk[lCXe^l\[fZ$Ifljj`ccfe :?8D9I<J;<DyK@<IJ <K;<CË8IK@J8E8K;L C8E>L<;F:$IFLJJ@CCFE D@JJ@FEJ ykXYc`jj\d\ekjglYc`ZjX[d`e`jkijgXi[\jXik`jXejclj# c\j:_XdYi\j[\dk`\ij\k[\cËXik`jXeXk[lCXe^l\[fZ$ Ifljj`ccfefekmfZXk`fe~[]\e[i\c\j`ekikj[\jXik`jXej \k~ki\c\lij`ek\icfZlk\lijXlgi j[\jgflmf`ijglYc`Zj% ;XejcËfYa\Zk`][\]Xmfi`j\ic\[m\cfgg\d\ek[lj\Zk\li Xik`jXeXci^`feXc#\cc\jgifgfj\ek[\jgXiZflij [ËXZZfdgX^e\d\ek`e[`m`[lXc`jjXjjfZ`XekZfej\`cj \k]fidXk`fej\eml\[ËXl^d\ek\ic\jZ_XeZ\j[\iljj`k\ [\jgifa\kj[XejcËXik`jXeXk% 9yEy=@:@8@I<J C\j:_XdYi\j[\dk`\ij\k[\cËXik`jXeXk[lCXe^l\[fZ$ Ifljj`ccfeXZZfdgX^e\ekc\ji\gi\e\lijgfk\ek`\cj [Ë\eki\gi`j\jXik`jXeXc\j#[ jcËd\i^\eZ\[lgifa\k# g\e[XekcXg_Xj\[\i\gi`j\\k[liXekc\jkif`jgi\d` i\j Xee\j[ËXZk`m`k% ;@JGFJ@K@=;Ë8::FDG8>E<D<EK;LI<GI<E<LI :\[`jgfj`k`]\jkd`j\eÅlmi\[Xejc\ZX[i\[lgif^iXdd\ G8:K<\eki\gi`j\[\cXI^`feCXe^l\[fZ$Ifljj`ccfe% 8ZZl\`c ;\ji\eZfeki\jXm\ZleZfej\`cc\ig\id\kk\ek[\ZfeeXki\ c\j\ea\lo#c\j[dXiZ_\j~jl`mi\#c\jX`[\jÔeXeZ` i\j# \k[\[Ôe`ilegXiZflij[ËXZZfdgX^e\d\ekg\ijfeeXc`j% Le\X`[\\jkXljj`Xggfik\gfli`[\ek`Ô\ile\\eki\gi`j\~ i\gi\e[i\#\edfY`c`jXek[\jflk`cj[\d`j\\ei\cXk`feZfdd\1 nnn%XZkZfekXZk%e\k\knnn%YefX%e\k :fej\`c ;Xejc\ZX[i\[lM@J8#leZfej\`cc\iX`[\~iXc`j\i le[`X^efjk`Zk\Z_e`hl\#Zfefd`hl\#Zfdd\iZ`Xc\k_ldX`e% @cXZZfdgX^e\^Xc\d\ekc\dfekX^\[\[fjj`\ij[\[\dXe[\ [\ÔeXeZ\d\ek% GX^\-' =fidXk`fe ;\j]fidXk\lijXZZfdgX^e\ekc\ji\gi\e\lij[Xej cËXZhl`j`k`fe[\jZfdgk\eZ\jeZ\jjX`i\jgfli[\m\e`i Z_\][Ë\eki\gi`j\Xik`jXeXc\% @ejZi`gk`fe LeZfej\`cc\i[l:\eki\[\]fidXc`kj[\j\eki\gi`j\j:=< XZZfdgX^e\c\ji\gi\e\lij[XejcXiXc`jXk`fe[\j]fidXc`kj X[d`e`jkiXk`m\j[Ë`ddXki`ZlcXk`fe% Jl`m` ;\ji\eZfeki\jXm\ZleZfej\`cc\ig\id\kk\ek[ËXeXcpj\i c\jgi\d`\ijijlckXkj[\cË\eki\gi`j\\k[\giZfe`j\i [\jXZk`fejZfii\Zk`m\j% ¿& :FFI;FEEy<J Ij\Xl[\j:_XdYi\j[\ :_XdYi\[\dk`\ij\k dk`\ij\k[\cËXik`jXeXk [\cËXik`jXeXk[l>Xi[ [lCXe^l\[fZ$Ifljj`ccfe :D8*' nnn%ZdX$cXe^l\[fZifljj`ccfe%]i :_XdYi\[\dk`\ij\k [\cËXik`jXeXk[\cË8l[\ :D8(( )'Xm\el\[lDXiZ_Xc Al`e$9G(*((''):XiZXjjfee\Z\[\o Kc%1'+-/(()''' =Xo1'+-/(()'+' ZiXk`fe7Zd$Xl[\%]i nnn%Zd$Xl[\%]i 0'+Xm\el\[lDXiZ_Xc Al`e$:J/*'() *'0'/Ed\jZ\[\o) Kc%1'/),*-*-*- =Xo1'+---)/'0' Zi\Xk`fe7ZdX$^Xi[%]i nnn%ZdX$^Xi[%]i :_XdYi\[\dk`\ij \k[\cËXik`jXeXk [\cË?iXlck:D8*+ ++Xm\el\JkCXqXi\ *+0-,Dfekg\cc`\i Z\[\o) Kc%1'+-..).)'' =Xo1'+-..).))* Zi\Xk`fe7Zd$_\iXlck%]i nnn%Zd$_\iXlck%]i :_XdYi\[\dk`\ij \k[\cËXik`jXeXk [\cXCfq i\:D8+/ )Yflc\mXi[[lJflY\piXe 9G0'$+/''*D\e[\Z\[\o Kc%1'+--+0()-=Xo1'+--+0(0(, Zi\Xk`fe7ZdX$cfq\i\%]i nnn%Zd$cfq\i\%]i :_XdYi\[\dk`\ij \k[\cËXik`jXeXk[\j Gpie\j$Fi`\ekXc\j :D8-.Yflc\mXi[[l:feÕ\ek 9G000'. --0-)G\ig`^eXeZ\[\o0 Kc%1'+-/*,//'' =Xo1'+-/,(+')Zi\Xk`fe7ZdX--%]i nnn%ZdX--%]i GX^\-( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :_XdYi\j[\dk`\ij\k[\cËXik`jXeXk[lCXe^l\[fZ$Ifljj`ccfe 8ZZfdgX^e\d\ek[li\gi\e\li [XejcËXik`jXeXk 8::L<@C Ile`fej[Ë`e]fidXk`fe jl`m`\j[Ë\eki\k`\ej `e[`m`[l\cj 8`[\~cXi\Z_\iZ_\ [Ë\eki\gi`j\~i\gi\e[i\ :FEJ<@C 8ZZfdgX^e\d\ekM@J8 =FID8K@FE =fidXk`fej~cX^\jk`fe1 jkX^\[\gigXiXk`fe~cË`ejkXccXk`fefl ]fidXk`feXldk`\i[\Z_\][Ë\eki\gi`j\ =fidXk`fejXlok\Z_e`hl\j gif]\jj`fee\cc\j EXkli\ [\jgi\jkXk`fej 8ZZl\`c @EJ:I@GK@FE @ddXki`ZlcXk`fe[\cË\eki\gi`j\ XlIg\ikf`i\[\jdk`\ij :fej\`c =fidXk`fe GX^\-) JL@M@ 8ZZfdgX^e\d\ekg\e[Xek*Xej Xgi jc\[dXiiX^\[\cËXZk`m`k C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :fe][iXk`fe^eiXc\[\jg\k`k\j\kdfp\ee\j\eki\gi`j\jCI:>GD<CI :FE=y;yI8K@FE>yEyI8C< ;<JG<K@K<J<KDFP<EE<J <EKI<GI@J<JCI:>GD<CI D@JJ@FEJ CX:>GD<\jkle\fi^Xe`jXk`fegXkifeXc\hl`jË\e^X^\ ~i\gij\ek\i\k~[]\e[i\c\j`ekikj[\j\eki\gi`j\j1 cX:>GD<Xjjli\[ËXYfi[jX[flYc\d`jj`fe[\i\gij\ekXk`fe \k[\[]\ej\[\jGD<~kiXm\ijc\[`Xcf^l\[`i\Zk Xm\Zc\jgflmf`ijglYc`Zj#gXi[\ji\eZfeki\ji^lc` i\j Xm\Zc\jj\im`Z\j[ZfeZ\ekij[\cËykXk\kc\jZfcc\Zk`m`kj k\ii`kfi`Xc\j%CX:>GD<Xjjli\^Xc\d\ekjXd`jj`fe [\i\gij\ekXk`fe\k[\[]\ej\[\jGD<~kiXm\ij cXgXik`Z`gXk`feXlo`ejkXeZ\jf]ÔZ`\cc\j[\ZfeZ\ikXk`fe% CX:>GD<i\gij\ek\\k[]\e[^Xc\d\ekc\jGD< \ekXekhl\gfik\$gXifc\[\c\lij`ekikjcfij[\j[`jZljj`fej hlË\cc\giXk`hl\Xm\Zc\j[`]]i\ekj`ek\icfZlk\lijjfZ`Xlo [Xejc\ZX[i\[lgXi`kXi`jd\%CX:>GD<XZZfdgX^e\c\ [m\cfgg\d\ekZfefd`hl\\kjfZ`Xc[liXYc\[\jKG<#GD< \k[\c\lijjXcXi`j% 9yEy=@:@8@I<J C\jjXcXi`j[\jKG<\kGD<[j`iXek i\gi\e[i\le\\eki\gi`j\ C\jdXeX^\ij[j`iXeki\gi\e[i\le\KG<flGD< C\j[`i`^\Xekj[\KG<flGD<jfl_X`kXek ]X`i\[\cXZif`jjXeZ\\ok\ie\ C\ji\gi\e\lij[\GD<\kKG<[lCXe^l\[fZ$Ifljj`ccfe \dgcfpXek[\jjXcXi`jgflic\[`jgfj`k`]J8=K< ¿& GX^\-* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :fe][iXk`fe^eiXc\[\jg\k`k\j\kdfp\ee\j\eki\gi`j\jCI:>GD<CI ;@JGFJ@K@=J;Ë8GGL@ÁC8KI8EJD@JJ@FE <KÁC8I<GI@J<;Ë<EKI<GI@J< ;`jgfj`k`]8IK<GD< C\jgi\jkXk`fej1 XZZl\`c\kfi`\ekXk`fe[\jZXe[`[Xkji\gi\e\lij# [k\Zk`fe[\j\eki\gi`j\j~Z[\i# j\ej`Y`c`jXk`fe\k]fidXk`fe[\jZ[Xekj# XZZfdgX^e\d\ek\kjflk`\e~cX[dXiZ_\ ]fidXk`fe#klkfiXk#`e^e`\i`\ÔeXeZ` i\ % ;`jgfj`k`]J8=K< JfZ`kXlo`c`X`i\[\ÔeXeZ\d\ek~ cXkiXejd`jj`fe[Ë\eki\gi`j\ CXJ8=K<XgflifYa\Zk`][\jflk\e`ic\i\gi\e\li [Xejjfegifa\kjXejc\½ZfekiX`e[i\~iXZ_\k\ijfekiXmX`c¾% >iZ\~cXdfY`c`jXk`fe\k~cXgXik`Z`gXk`fe[\j\eki\gi`j\j X[_i\ek\j~cX:>GD<#Z\[`jgfj`k`]m`j\~g\id\kki\ Xli\gi\e\li[\½YflZc\i¾jfegcXe[\ÔeXeZ\d\ek gXiXggfik[\]fe[jgifgi\jjXejgfliXlkXeke^c`^\i cËXZZfdgX^e\d\ek[\cXi\gi`j\% :\[`jgfj`k`]\jkZldlcXYc\Xm\Zc\jX`[\j\kefkXdd\ek Z\cc\jd`j\j\egcXZ\gXicXI^`feCXe^l\[fZ$Ifljj`ccfe% :FFI;FEEy<J :>GD<CI :cfjJX`ek>lp Il\>\fi^\j;\e`qfk *+'0'Dfekg\cc`\i Kc%1'+-.0),-/( =Xo1'+-.,+(-'* <$dX`c1Z^gd\ci7Xc`Z\X[jc%]i :fekXZk1<i`Z=<II@<I<J GX^\-+ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej :_XdYi\gif]\jj`fee\cc\[\jZfej\`cj[Ë\eki\gi`j\j [lCXe^l\[fZ$Ifljj`ccfe:CI :?8D9I<GIF=<JJ@FEE<CC< ;<J:FEJ<@CJ;Ë<EKI<GI@J<J ;LC8E>L<;F:$IFLJJ@CCFE:CI D@JJ@FEJ Gif]\jj`feeXc`j\ic\dk`\i[\Zfej\`c MXcfi`j\icË\og\ik`j\[\jZfejlckXekj\egXik`Z`gXek ~[\jiÕ\o`fej#Zfccfhl\j#Zfe^i j\k\eXe`dXek [\jZfe]i\eZ\j#[YXkj¿ @e]fid\i\kZfddle`hl\im`Xjfej`k\`ek\ie\kXeelX`i\ [\jZfejlckXekj GXikX^\i\kdlklXc`j\igXicËfi^Xe`jXk`fe[\Zfdd`jj`fej k_dXk`hl\j F]]i`i[\jj\im`Z\jXlo\eki\gi`j\j D\kki\c\jZfdgk\eZ\j[\j\jX[_i\ekjXlj\im`Z\ [\kflkZiXk\lifli\gi\e\li[Ë\eki\gi`j\ C\jZfejlckXekj[\:CIjfekj`^eXkX`i\j[\efki\Z_Xik\ [fekfcf^`hl\% 9yEy=@:@8@I<J Kflkgfik\li[\gifa\kXpXekY\jf`e[\Zfdgk\eZ\j [Xejc\j[fdX`e\jjl`mXekj1 Zfddle`ZXk`fe#i\cXk`fejglYc`hl\j ÔeXeZ\j#ali`[`hl\#ÔjZXci`jhl\#XjjliXeZ\j ^\jk`fe\kdXeX^\d\ek[\ji\jjfliZ\j_ldX`e\j dXib\k`e^\kZfdd\iZ`Xc [m\cfgg\d\ek`ek\ieXk`feXc\k\ogfik fi^Xe`jXk`fe#^\jk`fe[\gif[lZk`fe#cf^`jk`hl\ hlXc`k#jZli`k#\em`ifee\d\ek#[m\cfgg\d\ek[liXYc\ jkiXk^`\\kfi^Xe`jXk`fe[\j\eki\gi`j\j jpjk d\j[Ë`e]fidXk`fe\k[\^\jk`fe#`e]fidXk`hl\ :FFI;FEEy<J :_XdYi\gif]\jj`fee\cc\[\jZfej\`cj[Ë\eki\gi`j\j [lCXe^l\[fZ$Ifljj`ccfe Kc%1'+-..'.-,)&'--)''..,/ <$dX`c1ZfekXZk7Zfej\`c$ci%Zfd nnn%Zfej\`c$ci%Zfd :fekXZk1<i`ZC8:FD9< GX^\-, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej ;`i\Zk`fej[gXik\d\ekXc\j[lkiXmX`c#[\cË\dgcf`\k [\cX]fidXk`fegif]\jj`fee\cc\[lCXe^l\[fZ$Ifljj`ccfe;;K<=G ;@I<:K@FEJ;yG8IK<D<EK8C<J ;LKI8M8@C#;<CË<DGCF@<K;< C8=FID8K@FEGIF=<JJ@FEE<CC< ;LC8E>L<;F:$IFLJJ@CCFE ;;K<=G D@JJ@FEJ<K;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< C\jj\im`Z\j[\cËykXk\eCXe^l\[fZ$Ifljj`ccfefek Zfdgk\eZ\gflicËXkki`Ylk`fe[\d\jli\j[ËX`[\~cXZiXk`fe \ki\gi`j\[Ë\eki\gi`j\#k\cc\jhl\1 cËX`[\XloZ_d\lijZiXk\lij&i\gi\e\lij[Ë\eki\gi`j\ 8ZZi\ # cË\eZfliX^\d\ekXl[m\cfgg\d\ek[Ë\eki\gi`j\j eflm\cc\j<[\e # c\jZ_hl`\ij$Zfej\`cj% C\j;`i\Zk`fej[gXik\d\ekXc\j[lkiXmX`c#[\cË\dgcf` \k[\cX]fidXk`fegif]\jj`fee\cc\;;K<=G Xjjli\ek cË`ejkilZk`fe[\j[\dXe[\j[ËX`[\~cXZiXk`fe \k~cXi\gi`j\[Ë\eki\gi`j\8ZZi\ \kc\jZ_hl`\ij$Zfej\`cj% CË8`i[`\\kCfq i\@e`k`Xk`m\Xjjli\ekcË`ejkilZk`fe[\jXmXeZ\j i\dYflijXYc\j<[\e% 9yEy=@:@8@I<J :\jX`[\jjfek[\jk`e\j~XZZfdgX^e\i1 c\j[\dXe[\lij[Ë\dgcf`\kc\jYeÔZ`X`i\j[\d`e`dX jfZ`Xlo# c\jZiXk\lij[Ë\eki\gi`j\[Xejc\jqfe\jliYX`e\j j\ej`Yc\j# c\jYeÔZ`X`i\j[lZfdgcd\ek[\c`Yi\Z_f`o[ËXZk`m`k% GX^\-- :\jX`[\jjfekflm\ik\j~cË\ej\dYc\[\jXZk`m`kj Zfefd`hl\j`e[ljki`\#Zfdd\iZ\#Xik`jXeXk#j\im`Z\j# X^i`Zlckli\#Xid\d\ekdXi`k`d\ dX`jXljj`~kflk\gif]\jj`fe `e[g\e[Xek\efejXcXi`\efkXdd\ekc\jgif]\jj`fej c`YiXc\j % <cc\jZfeZ\ie\ekc\j\eki\gi`j\jjflj]fid\jali`[`hl\j jl`mXek\j1 \eki\gi`j\`e[`m`[l\cc\#<LIC#J8IC#J8#J8J#JfZ`k\eefd Zfcc\Zk`]#JZfg#JfZ`kj[li^`d\X^i`Zfc\#JfZ`kZ`m`c\ gif]\jj`fee\cc\#J<C% C\jZiXk`fej[ËXjjfZ`Xk`fej#c\j^iflg\d\ekj[Ë`ekik Zfefd`hl\\kc\j^iflg\d\ekj[Ë\dgcfp\lije\jfek gXjc`^`Yc\j% :FFI;FEEy<J ;;K<=G[\cË8l[\ ;;K<=G[\cXCfq i\ Il\A\XeDc` jÆ9G(''((/,':XiZXjjfee\ Kc%1'+-/..+'+. @dd\lYc\c\JX`ek$:cX`i 8m\el\[l((efm\dYi\ +/'''D\e[\ Kc%1'+---,-(') ;;K<=G[l>Xi[ (.+il\8ekf`e\9cfe[`e QXZ<jgcXeX[\Jl[Æ9G.(*0 *'0(*Ed\jZ\[\o Kc%1'+--*/,,+. ;;K<=G[\j Gpie\j$Fi`\ekXc\j .-Xm\el\8i`jk`[\9i`Xe[ --'''G\ig`^eXe Kc%1'+-/--),(+ 8`i[`\ (il\:`k9\efk *+'''Dfekg\cc`\i Kc%1'+-.(,''(' Cfq i\@e`k`Xk`m\ (-Yflc\mXi[JflY\piXe +/'')D\e[\ Kc%1'+--+0''** ;;K<=G[\cË?iXlck -(,Yflc\mXi[[Ë8ek`^fe\ *+'-+Dfekg\cc`\iZ\[\o Kc%1'+-.))//// GX^\-. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej =[iXk`fe]iXeX`j\[lYk`d\ekCXe^l\[fZ$Ifljj`ccfe==9CI =y;yI8K@FE=I8Ex8@J< ;L9ÛK@D<EK C8E>L<;F:$IFLJJ@CCFE==9CI D@JJ@FEJ CËfYa\Zk`][l[`jgfj`k`]KiXejd`9Xk\jk[\dX`ek\e`i\eXZk`m`k c\k`jjl[\j\eki\gi`j\ji^`feXc\j[lYk`d\ek#jXlm\^Xi[\i c\j\dgcf`j\kjXmf`i$]X`i\#\kÅlmi\igflileXdeX^\d\ek _Xidfe`\lo[lk\ii`kf`i\% 9yEy=@:@8@I<J C\[`jgfj`k`]ZfeZ\ie\1 kfljc\jkpg\j[\i\gi`j\1 kiXejd`jj`fe]Xd`c`Xc\# kiXejd`jj`fe~lejXcXi`# kiXejd`jj`fe~lek`\ij\oki`\li gXik`Zlc`\ifl\eki\gi`j\ 2 kflk\jc\j\eki\gi`j\j[lj\Zk\li#hl\cc\hl\jf`kc\likX`cc\ jgZ`ÔZ`k&KG< 2 kfljc\jZXe[`[Xkj~cXi\gi`j\[Ële\\eki\gi`j\[\Yk`d\ek% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< KiXejd`9Xk 8Zk`fej\e[`i\Zk`fe[\jZ[Xekj J\ej`Y`c`jXk`feXÔe[\]X`i\d\i^\i[\jgifa\kj [\kiXejd`jj`fe 8l[`kg\ijg\Zk`m\j[lZ_\][Ë\eki\gi`j\jflZ` [\gi\ee`jXk`fe[\cË\eki\gi`j\#dX`ek`\ejXcXi`j 8l[`k½kXkkiXejd`jj`Y`c`k¾1jfZ`Xc#ÔjZXc#ali`[`hl\ ;k\id`eXk`fe[lgifÔc[li\gi\e\li1mfclk`]k\Z_e`Z`\e# dXeX^\i#^\jk`feeX`i\¿ 8`[\~cXe^fZ`Xk`fe&d[`Xk`fe :fej\`c~cXmXcfi`jXk`fe[\cË\eki\gi`j\\kgij\ekXk`fe [lgffc[\ZfejlckXekj =fidXk`fej\ej`Y`c`jXk`fe½gigXi\ijXkiXejd`jj`fe¾ GX^\-/ 8Zk`fe\e[`i\Zk`fe[\ji\gi\e\lij D`j\\ei\cXk`feZ[Xekj&i\gi\e\lij Fi^Xe`jXk`fe[\cXgi\d` i\i\eZfeki\ 8`[\~cXe^fZ`Xk`fe&d[`Xk`fe GcXe[\]fidXk`fe`e[`m`[lXc`j#d`j\\eX[hlXk`fe gifÔc&gifa\k 8`[\XldfekX^\ÔeXeZ`\i =XZ`c`kXk`fe~cË`ek^iXk`fei\gi\e\li_fiji^`fe ¿& :FFI;FEEy<J =[iXk`fe]iXeX`j\[lYk`d\ekCXe^l\[fZ$Ifljj`ccfe ;`jgfj`k`]KiXejd`9Xk *,0Xm\el\[\Gij[Ë8i e\j$9G0,()) *+'.*Dfekg\cc`\iZ\[\o* Kc%1'+-.,/,))' =Xo1'+-.,/)*-' <$dX`c1kXmf`ccfk^7cXe^l\[fZ%]]YXk`d\ek%]i e\lmpZ7cXe^l\[fZ%]]YXk`d\ek%]i GX^\-0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej =[iXk`fe]iXeX`j\[lYk`d\ekCXe^l\[fZ$Ifljj`ccfe==9CI G8:K<MFC<KI<GI@J<1;L:FEJ<@C#;LJL@M@<K;<J =@E8E:<D<EKJGFLII<GI<E;I<LE<<EKI<GI@J< =fidXk`fe j\ej`Y`c`jXk`fe ½gigXi\i jXi\gi`j\¾ I\gi\e\li :[Xek @e]fidXk`feÆ8ZZl\`c Ifi`\ekXk`fe ;`X^efjk`Z[\cË\eki\gi`j\ :fej\`c~cXmXc`[Xk`fe D`j\\ei\cXk`feZ[Xekj&i\gi\e\lij Fi^Xe`jXk`fe[\cXgi\d` i\ i\eZfeki\ 8`[\~cXe^fZ`Xk`fe&d[`Xk`fe =fidXk`fe k\Z_e`hl\ \k&fl^\jk`fe [\cË\eki\gi`j\ 8`[\XldfekX^\ÔeXeZ`\i Gij\ekXk`fe gXik\eX`i\j ÔeXeZ`\ij M@J8 i\gi`j\ kiXejd`jj`fe EXkli\ [\jgi\jkXk`fej 9flZcX^\[lgcXe[\ÔeXeZ\d\ek 8ZZl\`c 8mXeZ\=fe[ji^`feXc i\dYflijXYc\[\^XiXek`\ :fej\`c =fidXk`fe Jl`m`gfjk$i\gi`j\ :clY[\ji\gi\e\lij[lYk`d\ek GX^\.' =fidXk`fe j\ej`Y`c`jXk`fe ½gigXi\ijX kiXejd`jj`fe¾ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej >Xi[i_f[Xe`\e[m\cfgg\d\ek&Jf[`\ >8I;I?F;8E@<E ;yM<CFGG<D<EK&JF;@< D@JJ@FEJ Le\d`jj`fe[ËXggl`Xl[m\cfgg\d\ekZfefd`hl\ gflicË\dgcf`#Xlj\ejcXi^\#ZË\jk$~$[`i\kflj[fdX`e\j [ËXZk`m`kZfe]fe[lj#hl`j\kiX[l`kgXicXgifjg\Zk`fe \kcXi\Z_\iZ_\[Ë`em\jk`jj\lij%:\kk\d`jj`fej\]X`k^Xc\d\ek \egXik\eXi`XkXm\Zc\jZ_XdYi\jZfejlcX`i\j\kXlki\jXZk\lij [l[m\cfgg\d\ekZfefd`hl\[lk\ii`kf`i\#gXilejflk`\e jflj]fid\[Ë`e^e`\i`\\k[ËXZZfdgX^e\d\ekXlogifa\kj [\ZiXk`fe#[\i\gi`j\fl[\[m\cfgg\d\ek[\j\eki\gi`j\j% :\kk\d`jj`fej\Zfef`kXljj`Y`\e\ek\id\j[\gifa\kj `e[`m`[l\cjhl\[\gifa\kjZfcc\Zk`]j% Le\d`jj`fe[\gifdfk`feZfefd`hl\hl`Zfej`jk\ \jj\ek`\cc\d\ek~Zfddle`hl\i#~]X`i\ZfeeXki\ \k~mXcfi`j\ic\k\ii`kf`i\[Xejc\i\jg\Zk[\jZfdgk\eZ\j [\j<G:@d\dYi\j\k[\jjkilZkli\jZfddleXc\j[\ gifdfk`fe[lkfli`jd\efkXdd\ek[\jf]ÔZ\j[\kfli`jd\# jpe[`ZXkj[Ë`e`k`Xk`m\[\jZfddle\jd\dYi\j[\j ZfddleXlkj[\Zfddle\jX[_i\ek\j~cËXjjfZ`Xk`fe % :\kk\d`jj`fe[fee\c`\l^Xc\d\ek~cXiXc`jXk`fe[Ëkl[\j \k[ËXeXcpj\jXÔe[\Zfeki`Yl\iXl[m\cfgg\d\ek[l>Xi[ i_f[Xe`\e% Le\d`jj`fe[\Zfej\`cXlgi j[\jd\dYi\j[\cËXjjfZ`Xk`fe# [\jZfcc\Zk`m`kj\k[\jXlki\jXZk\lijZfefd`hl\j#hl`[f`k gi\e[i\cX]fid\[Ële\\og\ik`j\\k[ËleXggl`k\Z_e`hl\ Xm`jjlicXZfeafeZkli\Zfefd`hl\#jlic\jgfk\ek`Xc`kj [lk\ii`kf`i\#jlic\jXdeX^\d\ekj~gi`m`c^`\i# jlic\jY\jf`ej[\j\eki\gi`j\j#jlic\lijgifa\kj¿ % Le\d`jj`fe[\jl`m`[\jmfclk`fej[\cË\dgcf`#\eXjjliXek cËXe`dXk`fe\kcXd`j\~aflii^lc` i\[ËlefYj\imXkf`i\ jlicË\dgcf`#\ec`X`jfekif`k\Xm\Zc\jj\im`Z\j[\cË\dgcf` [\cX;;K<=G#cXGi]\Zkli\[l>Xi[\kkfljc\jXZk\lij ZfeZ\iejgXicË\dgcf`% ¿& GX^\.( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej >Xi[i_f[Xe`\e[m\cfgg\d\ek&Jf[`\ Le\d`jj`fejgZ`Ôhl\[\cXJf[`\#jkilZkli\`e[g\e[Xek\ jlic\>Xi[i_f[Xe`\e\kc\MXlZclj\i_f[Xe`\e#jl`k\~cX ]\id\kli\[ËL>@E<~CXl[le$CË8i[f`j\%CXJf[`\#[fekcËflk`c [Ë`ek\im\ek`fe\jkÔeXeZgXic\^iflg\8iZ\cfi[Xejc\ZX[i\ [Ëlegif^iXdd\[\i\m`kXc`jXk`fe[lk\ii`kf`i\#`ek\im`\ek jlilegi`d ki\[Ë`ek\im\ek`fehl`Zflmi\(.ZXekfej[l>Xi[ Gfek$JX`ek$<jgi`k#9X^efcj$jli$: q\#CljjXe#Ifhl\dXli\# I\dflc`ej#Lq j#9\XlZX`i\#M`cc\e\lm\$c\q$8m`^efe \k[lMXlZclj\9fcc e\#FiXe^\Æ)ZXekfejÆ9[Xii`[\j \k8m`^efe$+ZXekfej$ % 9yEy=@:@8@I<J ;Xejc\ZX[i\[\jgikjJf[`\#c\jgfik\lij[\gifa\kj1 ZiXk`fe#i\gi`j\#[m\cfgg\d\ek#`ejkXccXk`fe[Ëfi`^`e\ \of^ e\\k\e[f^ e\% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< C\gikJf[`\\jkleflk`c[Ë`ek\im\ek`feÔeXeZ gXic\^iflg\8iZ\cfi% C\dfekXek[lgik\jk]feZk`fe[\j\dgcf`j\e:;@ gif^iXddj~*Xej\k[lgcXe[\ÔeXeZ\d\ekcXYfi% @cjËX^`k[ËlegikjXej^XiXek`\% ;li\1[\+~,Xej^eiXc\d\ek% KXlo)''.1*#,Ôo\gflile[m\cfgg\d\ek# +#),Ôo\gflile\ZiXk`feflle\i\gi`j\[Ë\eki\gi`j\% :FFI;FEEy<J >Xi[i_f[Xe`\e [m\cfgg\d\ek Jf[`\ DX`jfe[\cË\eki\gi`j\ Q8[\cË<lq\ Il\=\ieXe[AXii` *')''9X^efcj$jli$: q\ Kc%1'+--.0'+'+ =Xo1'+--,'*.-. <$dX`c1^i[7^Xi[$i_f[Xe`\e$\Zf%Zfd GX^\.) DX`jfe[\cË\eki\gi`j\ Q8[\cË<lq\ Il\=\ieXe[AXii` *')''9X^efcj$jli$: q\ :fekXZk1DXiZ9L==<K Kc%1'+--**(,*0 GfikXYc\1'-/..('*,<$dX`c1dXiZ%Yl]]\k7jf[`\%Zfd C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Fi[i\[\j\og\ikj$ZfdgkXYc\j$i^`fe[\Dfekg\cc`\i FI;I<;<J<OG<IKJ$:FDGK89C<J Iy>@FE;<DFEKG<CC@<I D@JJ@FEJ :igXicËfi[feeXeZ\[l(0j\gk\dYi\(0+,#cËFi[i\ \jkc\^XiXek[li\jg\Zk[\cX[fekfcf^`\gif]\jj`fee\cc\% @cX^Xc\d\ekgfliic\[\i\gij\ek\icXgif]\jj`fe \k[ËXjjli\icX[]\ej\[\j\j`ekikj%CËFi[i\Zfdgi\e[ le\`ejkXeZ\eXk`feXc\#c\:fej\`cjlgi`\li#\k[\j`ejkXeZ\j i^`feXc\j#c\j:fej\`cji^`feXlo% CË\og\ik$ZfdgkXYc\\jkc\Zfej\`cc\ig\idXe\ek[lZ_\] [Ë\eki\gi`j\%@cg\lkcËX`[\i[Xejc\j[fdX`e\jjl`mXekj1 Xjj`jkXeZ\ZfdgkXYc\\kjl`m`[\^\jk`fe# ZiXk`feÆ[m\cfgg\d\ekÆkiXejd`jj`fe[Ë\eki\gi`j\# fgk`d`jXk`feÔjZXc\# *,_\li\j\kZfej\`c\ejfZ`Xc# Zfej\`c\ejkiXk^`\\kdXeX^\d\ek# XjjfZ`Xk`fej#Zfd`kj[Ë\eki\gi`j\¿# gim\ek`fe\k[`]ÔZlckj[\j\eki\gi`j\j% CËFi[i\[\j\og\ikj$ZfdgkXYc\j[\cXi^`fe[\Dfekg\cc`\i i\^iflg\c\j/''\og\ikj$ZfdgkXYc\j[\cË8l[\#cË8m\pife# c\>Xi[#cË?iXlck#cXCfq i\\kc\jGpie\j$Fi`\ekXc\j% CËXeelX`i\gXg`\i[\j\og\ikj$ZfdgkXYc\j[\cXi^`fe \jk~mfki\[`jgfj`k`fejlij`dgc\[\dXe[\#\kcËXeelX`i\ c\Zkife`hl\\jkXZZ\jj`Yc\jlic\j`k\`ek\ie\k[l:fej\`c i^`feXc[\cËFi[i\[\j\og\ikj$ZfdgkXYc\j% 9yEy=@:@8@I<J Kfljc\jgif]\jj`fee\cjg\lm\ekZfejlck\ile\og\ik$ ZfdgkXYc\#hl\cjhl\jf`\ekc\j\Zk\li[ËXZk`m`k# cXkX`cc\[lgifa\k\kjfekXk[ËXmXeZ\d\ek% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< GfliZfeZik`j\imfki\gifa\k[\i\gi`j\\ekflk\jie`k# cË\og\ik$ZfdgkXYc\#jgZ`Xc`jk\[\cË\eki\gi`j\#`e[g\e[Xek \kk\elXlj\Zi\kgif]\jj`fee\c#mfljgifgfj\1 ¿& GX^\.* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Fi[i\[\j\og\ikj$ZfdgkXYc\j$i^`fe[\Dfekg\cc`\i leXZZfdgX^e\d\ekX[Xgk~mfjY\jf`ej#j\cfe le\dk_f[fcf^`\[m\cfgg\gXicËFi[i\[\j\og\ikj$ ZfdgkXYc\j# cËXZZ j~cXYflij\[Ëfggfikle`kj[\j\og\ikj$ZfdgkXYc\j# le\gcXZ\[\dXiZ_jZli`j\i\^iflgXek[\efdYi\lj\j f]]i\j[\Z\jj`fe\k[\i\gi`j\# le\d\`cc\li\XjjliXeZ\[\cXZfeÔ[\ek`Xc`k[\mfki\gifa\k% CË8::FDG8>E<D<EK;LI<GI<E<LI<E('yK8G<J ( Gi`j\[\ZfeeX`jjXeZ\[lgifa\k[\i\gi`j\ ;Ôe`k`fe[\cËk\e[l\[\cXd`jj`fe ) 8`[\~cX[Ôe`k`fe[\Z`Yc\j * ;`]]lj`fe[\cËf]]i\ + Gijc\Zk`fe[\Z`Yc\j , GXik`Z`gXk`fe~cXi[XZk`fe [\cXc\kki\[Ë`ek\ek`fe - IXc`jXk`fe[\cËXl[`k[ËXZhl`j`k`fe fl½[l\[`c`^\eZ\j¾ . GXik`Z`gXk`feXloe^fZ`Xk`fej / @e^e`\i`\ali`[`hl\#ÔjZXc\\kÔeXeZ` i\ 0 GXik`Z`gXk`fe~cËcXYfiXk`fe [lgifkfZfc\\k[\jXZk\j (' 8ZZfdgX^e\d\ek[li\gi\e\ligfjk$i\gi`j\ :FFI;FEEy<J Fi[i\[\j\og\ikj$ZfdgkXYc\j$i^`fe[\Dfekg\cc`\i --(il\Cfl`jCg`e\$9G*((.,$*+''0Dfekg\cc`\iZ\[\o( Kc%1'+-.)'0/,'$=Xo1'+-.)')0.. <$dX`c1Zif7f\Z$dfekg\cc`\i%fi^ nnn%f\Z$dfekg\cc`\i%fi^ nnn%\eki\gi`j\kiXejd`jj`fe%Zfd GX^\.+ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej F]ÔZ\i^`feXc[Ë`e]fidXk`fe#[\]fidXk`fe\k[\]fidXc`kj [\jgif]\jj`fejc`YiXc\jCXe^l\[fZ$Ifljj`ccfeFi`]]GCCI F==@:<Iy>@FE8C;Ë@E=FID8K@FE# ;<=FID8K@FE<K;<=FID8C@KyJ ;<JGIF=<JJ@FEJC@9yI8C<J C8E>L<;F:$IFLJJ@CCFE FI@==GCCI D@JJ@FEJ CËFi`]]GCCI\jkle\XjjfZ`Xk`fecf`(0'([fekc\jYli\Xlo jfekj`kljXlj\`e[\Z_Xhl\DX`jfe[\jgif]\jj`fejc`YiXc\j% @c`ek\im`\ek[XejcË`e]fidXk`fe#c\Zfej\`c\kcX]fidXk`fe ~cXZiXk`fe\k~cXi\gi`j\[ËXZk`m`kc`YiXc\[XejcXi^`fe CXe^l\[fZ$Ifljj`ccfe% 9yEy=@:@8@I<J CËFi`]]GCCIXZZfdgX^e\\k]fid\kflk\jc\jg\ijfee\j hl`feklegifa\k[\ZiXk`fefl[\i\gi`j\[ËXZk`m`kc`YiXc\% JfeXZk`fejËX[i\jj\Xljj`Xlogif]\jj`fee\cjc`YiXlo hl`jfl_X`k\ekZ[\ic\liXZk`m`k% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< CËXZk`fejlicXkiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\c`YiXc\ j\[Zc`e\\e[\lomfc\kj% <cc\g\id\kXloZ[Xekj1 [\YeÔZ`\i[Ëlejflk`\egfli\]]\Zkl\icË`em\ekX`i\ [\jfef]]i\[\Z\jj`fe# [Ëki\j\ej`Y`c`jj~cXkiXejd`jj`fe[Ë\eki\gi`j\# [Ëki\Zfej\`ccjgXi[\j\og\ikjjgZ`Xc`jj% ¿& GX^\., C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej F]ÔZ\i^`feXc[Ë`e]fidXk`fe#[\]fidXk`fe\k[\]fidXc`kj [\jgif]\jj`fejc`YiXc\jCXe^l\[fZ$Ifljj`ccfeFi`]]GCCI <cc\g\id\kXloi\gi\e\lij1 [\iXc`j\ilegi$[`X^efjk`Z[\c\ligifa\k[\i\gi`j\ [Ë\eki\gi`j\\emXclXekj\jgf`ekj]fikj\k]X`Yc\j# [Ëki\d`j\ei\cXk`feXm\Z[\jZ[Xekjgfk\ek`\cj# [Ëki\XZZfdgX^ejXgi jc\lii\gi`j\g\e[Xek[\loXej% CËFi`]]GCCIXjjli\^Xc\d\ekcX[`]]lj`fe[\jf]]i\j [\Z\jj`fe[Ë\eki\gi`j\%@cXleic\[Ë`ek\id[`X`i\ \eki\c\Z[Xek\kc\i\gi\e\ligfli]XZ`c`k\icXi\eZfeki\% @cjËXggl`\jlile\Z\cclc\[\ZfejlckXekjjgZ`Xc`jjXmfZXk# \og\ik$ZfdgkXYc\#X^\ek^eiXc[ËXjjliXeZ\#efkX`i\#YXehl\# efkX`i\#ZfejlckXek\ejkiXk^`\ % :FFI;FEEy<J Fi`]]GCCI Kc%1'+-.-0.,(+ =Xo1'+-.-+)'(0 <$dX`c1`e]f7fi`]]gcci%Zfd nnn%fi`]]gcci%Zfd :fekXZk1A\Xe$DXiZA8CC<K GX^\.- C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Fjf FJyF D@JJ@FEJ FjfÔeXeZ\\kXZZfdgX^e\c\jGD<\ec\jjflk\eXek [XejcXiXc`jXk`fe[\c\lijgifa\kj%@cc\li]XZ`c`k\cËXZZ j XloYXehl\j\kXlofi^Xe`jd\j[\]fe[jgifgi\j# \egXik`Zlc`\i[Xejc\jg_Xj\jc\jgclji`jhl\j1ZiXk`fe# `eefmXk`fe#[m\cfgg\d\ek#`ek\ieXk`feXc#kiXejd`jj`fe% 9yEy=@:@8@I<J Kflk\jc\jGD<[\cXi^`fe% ;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< Fjf`eefmXk`fe jflk`\e~cË`eefmXk`fe\kXlkiXej]\ik[\jk\Z_efcf^`\j1 ÔeXeZ\d\ek\kXZZfdgX^e\d\ek[\jgifa\kj FjfÔeXeZ\d\ek ÔeXeZ\d\ek[\j`em\jk`jj\d\ekj\k[lZpZc\ [Ë\ogcf`kXk`fe\egXik\eXi`XkXm\Zc\jkXYc`jj\d\ekj YXeZX`i\j\kÔeXeZ`\ij Fjf^XiXek`\ ^XiXek`\[\jÔeXeZ\d\ekjYXeZX`i\j\k[\j`ek\im\ek`fej \e]fe[jgifgi\j Fjfj\im`Z\j Fjfj\im`Z\jgifgfj\[\jj\im`Z\j\ec`^e\[`i\Zk\d\ek [\jk`ejXloGD<#\kiXc`j\[\jkl[\j[`jgfe`Yc\j jlic\j`k\Fjf%]i FjfkiXmX`cc\\eij\XlXm\ZcË\ej\dYc\[\jXZk\lijglYc`Zj \kgi`mjXZZfdgX^eXekc\[m\cfgg\d\ek[\jGD< \kcË`eefmXk`fe%@cd\k~cX[`jgfj`k`fe[\jZfcc\Zk`m`kjcfZXc\j# \egi\d`\ic`\l[\jI^`fej#jfef]]i\[\gif[l`kj \kj\im`Z\j#X`ej`hl\jfeij\Xl#X[Xgkjj\cfec\lijgi`fi`kj [\[m\cfgg\d\ekZfefd`hl\% :FFI;FEEy<J FjfCXe^l\[fZ$Ifljj`ccfe ;`i\Zk`fei^`feXc\ÔeXeZ\d\ek\k^XiXek`\ @dd\lYc\C\:Xgflc` -il\DX^l\cfe\$:J/0'(, *+0-.Dfekg\cc`\iZ\[\o) Kc%1'+-.'-(..' GX^\.. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej GcXk\$]fid\[\cXZiXk`fe[ËXZk`m`kj[\cË?iXlckG=:8*+ \k[\jGpie\j$Fi`\ekXc\jG=:8-- GC8K<$=FID<;<C8:Iy8K@FE ;Ë8:K@M@KyJ;<CË?yI8LCKG=:8*+ <K;<JGPIyEy<J$FI@<EK8C<J G=:8-D@JJ@FEJ G=:8*+ CXgcXk\$]fid\[\cXZiXk`fe[ËXZk`m`kj[\cË?iXlckG=:8 *+ #Xmlc\aflijliZfddXe[\[l:fej\`c^eiXc[\cË?iXlck \k[\cX;`i\Zk`fe[gXik\d\ekXc\[lkiXmX`c#[\cË\dgcf` \k[\cX]fidXk`fegif]\jj`fee\cc\[\cË?iXlck\edXij)''(% Jfeic\Zfej`jk\~]X`i\]feZk`fee\i\eij\Xlc\jfi^Xe`jd\j ÔeXeZjjli]fe[jglYc`ZjgfliXZZl\`cc`i#`e]fid\i# XZZfdgX^e\i\kjl`mi\c\jgfik\lij[\gifa\kj[\ZiXk`fe fl[\i\gi`j\[ËXZk`m`k[Xejc\[gXik\d\ek% <cc\Zi\le\jgXZ\[ËZ_Xe^\j\k[\i\eZfeki\jgfli]Xmfi`j\i cË`ek\cc`^\eZ\Zfcc\Zk`m\% CXG=:8*+]flie`kXlojkilZkli\j[\j`e]fidXk`fej# d\k\egcXZ\[\j]fidXk`fej#kiXmX`cc\jli[\jflk`cjk\Z_e`hl\j \kc\lig\id\k[\kiX`k\i\eZfddle[\jgifYcdXk`hl\j i\eZfeki\jgXiZ_XZle% CXG=:8*+eË\jkgXj[\jk`e\XloZiXk\lijfli\gi\e\lij \e[`i\ZkdX`jjfej`k\`ek\ie\kfi`\ek\c\glYc`Z\kcl`g\id\k [\kiflm\ic\Yfe`ek\icfZlk\li[XejcË?iXlck% G=:8-CXgcXk\$]fid\[\cXZiXk`fe[ËXZk`m`kj[\jGpie\j$ Fi`\ekXc\jG=:8-- \jkc\j`k\@ek\ie\k&@ekiXe\k[lij\Xl [gXik\d\ekXc[ËXggl`XloZiXk\lij#Z[Xekj\ki\gi\e\lij [ËXZk`m`kjfl[Ë\eki\gi`j\j%:\ij\Xl[efdd½8::L<@C <EKI<GI@J<J--¾#j`dgc`Ô\c\j[dXiZ_\j[\jgfik\lij [\gifa\k\kd\k~c\li[`jgfj`k`feleeldifle`hl\\klej`k\ `ek\ie\k%:\jflk`cjfekgfliYlk[\^l`[\i#fi`\ek\ic\gfik\li [\kflkgifa\km\ij[\jjkilZkli\jX[Xgk\jhl`Zfdgfj\ek c\ij\Xl[gXik\d\ekXc% GX^\./ CXG=:8\jkgfik\gXicËXjjfZ`Xk`feGC<@EJL;<EKI<GI@J<J GJ< #XjjfZ`Xk`fecf`(0'(hl`XgflimfZXk`fe[\[m\cfgg\i j\jXZk`fejjlicË\ej\dYc\[l[gXik\d\ek[\jGpie\j$ Fi`\ekXc\j%<cc\j\ZfeZ\eki\jli+XZk`m`kj1 cËXZZfdgX^e\d\ek[Ë\eki\gi`j\j`eefmXek\j#cXgg`e` i\ [Ë\eki\gi`j\j#cXd`j\\eij\Xl[\jXZk\lij\kcXG=:8% 9yEy=@:@8@I<J Kfljc\jj\Zk\lij[ËXZk`m`k\kkflkkpg\[\glYc`Z% E8KLI<;<JGI<JK8K@FEJ C\jfi^Xe`jd\j[\cXG=:8*+\k[\cXG=:8--gifgfj\ek leXZZfdgX^e\d\ek[lZ[Xekfl[li\gi\e\li%<cc\jiXc`j\ek j\cfec\jZXj1XZZl\`c#`e]fidXk`fe#]fidXk`fe#i\Z_\iZ_\ [\ÔeXeZ\d\ek% :FFI;FEEy<J G=:8*+ G=:8-- <$dX`c1ZfekXZk7g]ZX*+%fi^ GXj[ËXZZl\`c[`i\Zk[\glYc`Z Fi`\ekXk`fem\ijcXjkilZkli\X[_fZ m`Xc\j`k\1nnn%g]ZX*+%fi^ <$dX`c1ZfekXZk7g]ZX--%fi^ 8ZZl\`c[`i\Zk[lglYc`ZjliI;M Fi`\ekXk`fem\ijcXjkilZkli\ X[_fZm`Xc\j`k\nnn%g]ZX--%fi^ Ele`hl\1'/''('---- Le\G=:8\jk\eZflij[\Zfejk`klk`fejlic\[gXik\d\ek[l>Xi[jflj cË`dglcj`fe[l:fej\`c^eiXc% GX^\.0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej GcXk\j$]fid\j[Ë`e`k`Xk`m\cfZXc\[lCXe^l\[fZ$Ifljj`ccfeG=@C GC8K<J$=FID<J;Ë@E@K@8K@M<CF:8C< ;LC8E>L<;F:$IFLJJ@CCFEG=@C D@JJ@FEJ E\j[Ële\`e`k`Xk`m\cfZXc\\kjËXgglpXekjlic\jgXik\eX`i\j glYc`Zj\kgi`mjhl`]fekcXm`\Zfefd`hl\\kjfZ`Xc\ Z_\]j[Ë\eki\gi`j\#clj\ki\jgfejXYc\jZfejlcX`i\j¿ # c\jG=@CjfekeXkli\cc\d\ek\eg_Xj\Xm\Zc\jjgZ`ÔZ`kj [\jk\ii`kf`i\j%<cc\jg\lm\ekZ_f`j`ic\lidf[\[Ëfi^Xe`jXk`fe ~[`]]i\ekjZ_\cfejgXpj#X^^cfdiXk`fe#[gXik\d\ek# i^`fe¿ \e]feZk`fe[\jY\jf`ejXlohl\cj\cc\j[f`m\ek igfe[i\flk`cj[\ÔeXeZ\d\ekZfdgcd\ekX`i\j#i\cXk`fej Xm\Zc\j\eki\gi`j\j¿ %<cc\jg\lm\ekXljj`df[`Ô\ic\liZ_Xdg [Ë`ek\im\ek`fe\kc\jglYc`Zjm`jj\e]feZk`fe[\cËmfclk`fe [lZfek\ok\jfZ`f$Zfefd`hl\% C\jG=@Cfekgfligi`eZ`gXc\jd`jj`fej1 [ËXZZfi[\i[\jgikj[Ë_fee\lii\e]fiZ\ic\j]fe[j gifgi\j#]Xmfi`j\icËfYk\ek`fe[\gikjYXeZX`i\j # [ËXZZfdgX^e\i\kgXiiX`e\ic\jZ_\]j[Ë\eki\gi`j\% 9yEy=@:@8@I<J C\jZ_\]j[Ë\eki\gi`j\\kXjjfZ`jXpXeklegifa\k[\ZiXk`fefl [\i\gi`j\#fljË\e^X^\Xek[Xejlegif^iXdd\[\[m\cfgg\d\ek# ~Zfe[`k`fehl\cË\eki\gi`j\X`kdf`ej[\kif`jXej[ËXZk`m`k% C\jgifa\kj[f`m\eki\c\m\i[\jj\Zk\lij[ËXZk`m`k [\cËXik`jXeXk#[\cË`e[ljki`\#[\jj\im`Z\j~cË`e[ljki`\# [lZfdd\iZ\[\[kX`cfl[\^ifj%Le\Xkk\ek`fegXik`Zlc` i\ \jkgfik\Xlogifa\kjhl`g\id\kk\ekc\[m\cfgg\d\ek [lk\ii`kf`i\#jf`k[l]X`k[\c\liXZk`m`k#jf`k[l]X`k [\c\li`ejkXccXk`fe\ed`c`\liliXc% CX[Z`j`fe\jkgi`j\gXileZfd`k[ËX^id\ekZfdgfj[\Z_\]j [Ë\eki\gi`j\#[Ë\og\ikj$ZfdgkXYc\j#[\YXehl`\ij\k[ËXmfZXkj% C\Zfd`kmXcl\c\gifa\k#c\i\gi\e\li\kcË\em`ifee\d\ek% C\i\gi\e\li\jki\lgXiZ\Zfd`k% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< Gikg\ijfee\c~kXloqif#jXejZXlk`fee`^XiXek`\ g\ijfee\cc\#[ËledfekXekZfdgi`j\eki\*'''`\k ),'''`dfekXek[`]]i\ekj\cfec\jgcXk\j$]fid\j % ¿& GX^\/' =fe[j[\^XiXek`\~cË`e`k`Xk`m\[\j]\dd\j1c\jG=@C fek^Xc\d\ek#[Xejc\ZX[i\[Ële\[c^Xk`fe[l=>@=# i\lcXd`jj`fe[Ë`ejkil`i\c\j[fjj`\ij[\[\dXe[\ [\^XiXek`\[gfjjgXic\jZiXki`Z\j[Ë\eki\gi`j\% CX[Z`j`fe[l:fd`k\jkkiXejd`j\~=iXeZ\XZk`m\ hl`efk`Ô\cX^XiXek`\XlYXehl`\i% Jl`m`[lgifa\kgXic\jgcXk\j$]fid\jg\e[Xekkflk\ cX[li\[\ji\dYflij\d\ekj[lgikkXYc\Xl[\Yfi[ ki`d\jki`\c#\eki\k`\ej¿ \kjl`m`gXilegXiiX`e#Z_\] [Ë\eki\gi`j\#XZZ\gkXek[\[fee\i[lk\dgjXlZiXk\li fli\gi\e\li% :FFI;FEEy<J 8l[\ ?Xlk\$MXcc\[\ cË8l[\@e`k`Xk`m\ >Xi[ >Xi[@e`k`Xk`m\ (Xm\el\JXcmX[fi8cc\e[\ ((*''C`dflo Kc%1'+-/*()-)=Xo1'+-/*()-+, <$dX`c1 _mX`e`k`Xk`m\%c`dflo7k`jZXc`%]i 0'+Xm\el\[l DXiZ_XcAl`e *'0'.Ed\jZ\[\o Kc%1'+---)/'+=Xo1'+---)/'+. <$dX`c1 ^Xi[`e`k`Xk`m\7nXeX[ff%]i @e`k`Xk`m\:XiZXjjfee\$ :Xjk\ceXl[Xip Cfq i\ Cfq i\@e`k`Xk`m\ *Yflc\mXi[:Xd`cc\ G\cc\kXe$9G(* ((''(:XiZXjjfee\Z\[\o Kc%1'+-/('*-)) =Xo1'+-/('*-') <$dX`c1`ZZ7ZXiZXjjfee\%ZZ`%]i (-Yflc\mXi[[lJflY\piXe +/'')D\e[\ Kc%1'+--+0''** =Xo1'+---,*,)0 nnn%`e`k`Xk`m\$\eki\gi`j\$ci%Zfd EXiYfee\@e`k`Xk`m\ Ki`Xe^c\[ËFZ (Xm\el\[l=fild :if`ojl[ (((''EXiYfee\ Kc%1'+-/+).('/ =Xo1'+-/+).(() <$dX`c1 gcXk\$]fid\7eXiYfee\%ZZ`%]i ?iXlck 9q`\ij@e`k`Xk`m\ÆD\[\] (ife[$gf`ek[\cX;\m q\ *+,''9q`\ij Kc%1'+-.-)')++ nnn%`e`k`Xk`m\$\eki\gi`j\$ci%Zfd :\eki\?iXlck@e`k`Xk`m\ *il\<l^ e\KXcp *+.''Cf[ m\ Kc%1'+-.///-)0 =Xo1'+-.+++)-0 <$dX`c1 Z\eki\_\iXlck`e`k`Xk`m\7nXeX[ff%]i ?iXlck<jk@e`k`Xk`m\ M`X@eefmX (..9Xm\el\Cfl`jCld` i\ <jgXZ\Cle\cC`kkfiXc *++''Cle\c Kc%&=Xo1'+-..(0).' <$dX`c1gÔc7ZZ$gXpj$cle\c%]i Dfekg\cc`\i@e`k`Xk`m\ <eki\gi`j\ )*''Xm\el\[\jdflc`ej *+0++Dfekg\cc`\iZ\[\o Kc%1'+00,(,*(( =Xo1'(+-,).+() <$dX`c1gÔc7dfekg\cc`\i%ZZ`%]i K_Xl@e`k`Xk`m\ ('il\>XYi`\cGi` *+)''J k\ Kc%1'+-.+-(,-) =Xo1'+-.(/.-.0 <$dX`c1 k_Xl%`e`k`Xk`m\7c`Y\ikpjli]%]i Gpie\j$Fi`\ekXc\j @e`k`Xk`m\\egXpjZXkXcXe )+hlX`JX[`:Xiefk --'''G\ig`^eXe Kc%1'+-//,/),) =Xo1'+-/,()*'( <$dX`c1gÔc7gpi\j%Zfd GX^\/( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej I^`feCXe^l\[fZ$Ifljj`ccfe Iy>@FEC8E>L<;F:$IFLJJ@CCFE D@JJ@FEJ :fcc\Zk`m`kk\ii`kfi`Xc\#cXI^`feCXe^l\[fZ$Ifljj`ccfe X^`k[Xejc\ZX[i\[\Zfdgk\eZ\jhl`cl`fekkZfe]i\j gXic\jcf`j[\[Z\ekiXc`jXk`fe[Xej[\j[fdX`e\j [Ë`ek\im\ek`fedXa\lij1Zfefd`\\k\dgcf`#]fidXk`fe \k^Xc`k[\jZ_XeZ\j#XdeX^\d\ek[liXYc\[lk\ii`kf`i\¿ <cc\Xle\Zfdgk\eZ\gc\`e\\k\ek` i\[XejcXd`j\ \egcXZ\[\jX`[\j[`i\Zk\jXlo\eki\gi`j\j\k\cc\i\m\e[`hl\ jfeic\[\Zffi[`eXk`fe[\cËXZk`feZfefd`hl\i^`feXc\% ;XejZ\ZX[i\#\cc\XX[fgk#[ jc\)*[Z\dYi\)'',# jfeJZ_dXi^`feXc[\[m\cfgg\d\ekZfefd`hl\J<IM@I % Gflii\c\m\ic\j[\lo[ÔjZXg`kXlohl\i\gij\ek\ekcË\dgcf` \kcXZiXk`fe[\i`Z_\jj\j#cXI^`fed\kefkXdd\ek\ekk\ [\j\jgi`fi`kjcXkiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\% ;`jgfj`k`]j[ËX`[\~cXi\gi`j\ GIF>I8DD<;Ë8GGL@ÁC8:Iy8K@FE<K KI8EJD@JJ@FE;Ë<EKI<GI@J<G8:K<<EKI<GI@J< :\gif^iXdd\g\id\kXloi\gi\e\lij1 [\YeÔZ`\i[ËleXZZfdgX^e\d\ek[\hlXc`kg\e[Xek c\ligXiZflij#^iZ\~leij\Xl[\gif]\jj`fee\cj# [\hlXc`Ô\ic\ligifa\kXÔe[\[fee\ikflk\jc\jZ_XeZ\j [\gi\ee`k~cË\eki\gi`j\#~kiXm\ijleM@J81[`X^efjk`Z k\Z_e`hl\#Zfefd`hl\#Zfdd\iZ`Xc\k_ldX`e# [\dfY`c`j\ic\jÔeXeZ\d\ekji^`feXloX[Xgkj% 9yEy=@:@8@I<J CXI^`feCXe^l\[fZ$Ifljj`ccfejflk`\ekcXi\gi`j\ [\j\eki\gi`j\jhl`jË`ejZi`m\ek[Xejc\jj\Zk\lijjl`mXekj1 Xik`jXeXk#`e[ljki`\#j\im`Z\j~cË`e[ljki`\#Zfdd\iZ\j [\^ifj#^Xc\d\ekc\jZfdd\iZ\j[\gifo`d`kj`klj [Xejle\Zfddle\[\df`ej[\)'''_XY`kXekjjË`ejZi`mXek [Xejle\[dXiZ_\[\k\ii`kf`i\[\kpg\gXpj#gXiZj eXkli\cji^`feXlofl`ek\iZfddleXc`k_fijZfddleXlkj [ËX^^cfdiXk`fe %C\j\eki\gi`j\j[\j\im`Z\j\o\iXek gi`fi`kX`i\d\ek[Xejc\j[fdX`e\j[\jk\Z_efcf^`\j [\cË`e]fidXk`fe\k[\cXZfddle`ZXk`fe\k[\jY`fk\Z_efcf^`\j jfek^Xc\d\ekc`^`Yc\j% GX^\/) CËXmXeZ\i\dYflijXYc\ <cc\XgflifYa\Zk`][\ÔeXc`j\ic\gcXe[\ÔeXeZ\d\ek [Ële\\eki\gi`j\%JfedfekXek\jk~dfY`c`j\i\egi`fi`k jlic\j`em\jk`jj\d\ekj`ddXki`\cj1Y\jf`e\e]fe[j [\iflc\d\ek#]iX`j[\cXeZ\d\ekZfdd\iZ`Xc¿ :\gik~kXlo'mXi`\[\(''''~,''''`# [XejcXc`d`k\[\j]fe[jgifgi\j%C\kXlodXo`dld [Ë`ek\im\ek`fe\jk[\,'[\cËXjj`\kk\c`^`Yc\% C\]fe[ji^`feXc[\^XiXek`\ JfeYlk\jk[Ëfgk`d`j\icËXZZ jXloZi[`kjYXeZX`i\j gflic\j\eki\gi`j\ji^`feXc\j1KG<#GD<&GD@% :\]fe[j\jk~dfY`c`j\i\egi`fi`kjlic\j`em\jk`jj\d\ekj dXki`\cj%CX^XiXek`\dfek\aljhlË~.'jl`mXek c\jZfe[`k`fej^eiXc\j[\jgXik\eX`i\j[\cXI^`fe1 Fjf#JfZXdX#J`X^`% 8`[\~cXkiXejd`jj`fe <cc\XgflifYa\k[ËXZZfdgX^e\ic\Z[Xek\eÔeXeXek cËmXclXk`fe[\cË\eki\gi`j\~Z[\iXjg\ZkjZfefd`hl\j# ÔeXeZ`\ij\k_ldX`ej XÔe[\[fee\ic\jd\`cc\li\j Z_XeZ\j[\iljj`k\Xlgifa\k% 8`[\j~cXi\gi`j\ CXI^`fegifgfj\[\loX`[\jhl`g\id\kk\ek[\]XZ`c`k\i cXi\gi`j\% CXgi\d` i\g\id\k[\ÔeXeZ\ile\gXik`\[ljXcX`i\ [l]lklii\gi\e\li%@cjËX^`k[\mXc`[\ijXmfcfek \eki\gi\e\li`Xc\\kj\jZfdgk\eZ\jXmXekcXZ\jj`fe [Ôe`k`m\\k[\Zfeki`Yl\iX`ej`~legXjjX^\[\i\cX`j [Xejc\jd\`cc\li\jZfe[`k`fej% CXj\Zfe[\XgflifYa\k[\ÔeXeZ\ic\i\Zflij ~[\jZfej\`cjjgZ`Xc`jjjlic\mfc\kdXeX^i`Xc# Zfefd`hl\#ÔeXeZ`\i\kali`[`hl\gfliX`[\i c\i\gi\e\li~[m\cfgg\icXZfdgk`k`m`k[\cË\eki\gi`j\% ¿& GX^\/* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej I^`feCXe^l\[fZ$Ifljj`ccfe GIF>I8DD<;Ë8::FDG8>E<D<EKÁC8:Iy8K@FE <KÁC8KI8EJD@JJ@FE;Ë<EKI<GI@J<Æ MFC<K=FID8K@FEG8:K<=FID8K@FE F9A<:K@=J C\G8:K<]fidXk`feGif^iXdd\[ËXZZfdgX^e\d\ek ~cXZiXk`fe\k~cXkiXejd`jj`fe[Ë\eki\gi`j\ XgflifYa\Zk`] [ËXZZfdgX^e\ic\jgfik\lij[Ëlegifa\k[\ZiXk`fefl[\ i\gi`j\[Ë\eki\gi`j\\ec\li[feeXekc\jd\`cc\li\jZ_XeZ\j [\jlZZ j% CXI^`fegi\e[\eZ_Xi^\ c\jXZk`fej[\]fidXk`feeZ\jjX`i\jgflidXki`j\i c\dk`\i[\Z_\][Ë\eki\gi`j\# cËXZZfdgX^e\d\ekXÔe[\c\jjl`mi\[liXekcXg_Xj\ [\dXkliXk`fe\k[\[dXiiX^\[lgifa\k[\ZiXk`fe fl[\i\gi`j\% Kpg\j[ËXZk`fej JkX^\jZfcc\Zk`]j\k`e[`m`[lXc`jjgXi[\jfi^Xe`jd\j [\]fidXk`fegfli[m\cfgg\ic\jZfdgk\eZ\j [\jgfik\lij[\gifa\kjefkXdd\ekjlic\jk_ d\j [\cX^\jk`fe#[\jXjg\Zkjali`[`hl\j#[\cXdXki`j\ [\jflk`cj`e]fidXk`hl\j#[\cXgigXiXk`fe[\jgcXej [ËX]]X`i\j¿ 8ZZfdgX^e\d\ek`e[`m`[lXc`jgXi[\jjkilZkli\j jgZ`Xc`j\jÔeXeZ\jgXic\:fej\`cI^`feXcXmXek# g\e[Xek\kXgi jcXZiXk`feflcXi\gi`j\[Ë\eki\gi`j\% 9yEy=@:@8@I<J C\jglYc`Zjm`jjjfekc\jgfik\lij[\gifa\kjjfl_X`kXekZi\i fli\gi\e[i\le\\eki\gi`j\\ei^`feCXe^l\[fZ$Ifljj`ccfe hl\chl\jf`kc\lijkXklk% :I@KßI<J;Ë8::ßJ C\ZiXk\li#c\i\gi\e\liflc\gfik\li[\gifa\k[f`kjËX[i\jj\i XlojkilZkli\j[ËX`[\~cXZiXk`fe[Ë\eki\gi`j\%CX]fidXk`fe e\[fee\gXjc`\l~idleiXk`fe% CXgXik`Z`gXk`fe[\cXI^`fe\jkXggfik\[`i\Zk\d\ek XlojkilZkli\j[`jg\ejXekcX]fidXk`fe% GX^\/+ G8:K<I<GI@J<1;L:FEJ<@C#;<C8=FID8K@FE#;LJL@M@ <K;<J=@E8E:<D<EKJGFLII<GI<E;I<LE<<EKI<GI@J< Gfik\li[\gifa\k I\gi\e\li @e]fidXk`feÆ8ZZl\`c Ifi`\ekXk`fe EXkli\ [\jgi\jkXk`fej 8ZZl\`c Gi$[`X^efjk`Z%GcXe[ËXZk`fej Ifi`\ekXk`fe :fej\`c =fidXk`fe M@J8 i\gi`j\ kiXejd`jj`fe =fidXk`feXl dk`\i[\Z_\] [Ë\eki\gi`j\ >\jk`fe[\ cË\eki\gi`j\# Zfdgk\eZ\j k\Z_e`hl\j 8`[\XlZfej\`cgflimXcl\i cË\eki\gi`j\~Z[\i =`eXeZ\d\ek 8`[\~cXi\Z_\iZ_\[Ë\eki\gi`j\j ~Z[\ifl~i\gi\e[i\ 8`[\XlÔeXeZ\d\ek [ljXcX`i\[li\gi\e\li 9flZcX^\[lgcXe[\ÔeXeZ\d\ek 8mXeZ\=fe[ji^`feXc i\dYflijXYc\[\^XiXek`\ 8`[\XlZfej\`c gfli[m\cfgg\icX Zfdgk`k`m`k[\ cË\eki\gi`j\i\gi`j\ Jl`m`gfjk$i\gi`j\ :FFI;FEEy<J I^`feCXe^l\[fZ$Ifljj`ccfe ;`i\Zk`fe[l[m\cfgg\d\ek[\j\eki\gi`j\j J\im`Z\ZiXk`fe[ËXZk`m`k Kc%1'+-.))0+'* =Xo1'+-.))0*)) <$dX`c1Zffi[`eXk`feZi\Xk`fe7Zi$cXe^l\[fZifljj`ccfe%]i nnn%cXe^l\[fZifljj`ccfe%]i I^`feCXe^l\[fZ$Ifljj`ccfe ;`i\Zk`fe[\cX]fidXk`fegif]\jj`fee\cc\\k[\cËXggi\ek`jjX^\ J\im`Z\gif^iXdd\j[Ë`ek\im\ek`fe Kc%1'+-.))0'(+ =Xo1'+-.))0',' <dX`c1Xl^`\i%cXiX7Zi$cXe^l\[fZifljj`ccfe%]i GX^\/, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej I\cX`jcfZXcXe`dXk`fe:m\ee\jI\cXeZ\ I<C8@JCF:8C8E@D8K@FE :yM<EE<JI<C8E:< D@JJ@FEJ C\I\cX`jcfZXcXe`dXk`fe:m\ee\jI\cXeZ\ \jklej\im`Z\ Zfddled`j\egcXZ\~cË`e`k`Xk`m\[\j:_XdYi\j[ËX^i`Zlckli\# [\Zfdd\iZ\\k[Ë`e[ljki`\#\k[\dk`\ij\k[\cËXik`jXeXk[\j [gXik\d\ekj[l>Xi[\k[\cXCfq i\%@c`ek\im`\ek\eXggl` XlofgiXk`fejhlË\cc\jd e\ek\e]Xm\li[\cXkiXejd`jj`fe$ i\gi`j\[\j\eki\gi`j\jZfdd\iZ`Xc\j#`e[ljki`\cc\j#[\ j\im`Z\j#Xik`jXeXc\j\kX^i`Zfc\j#jlile\qfe\^f^iXg_`hl\ `[\ek`Ô\1c\j:m\ee\j^Xi[f`j\j\kcfqi`\ee\j%CËfYa\Zk`] gi`eZ`gXc[\Z\j\im`Z\\jkc\dX`ek`\e[\jXZk`m`kj\e d`c`\liliXc^iZ\~cXkiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\% ;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< I\gi\ic\j\eki\gi`j\j~kiXejd\kki\\ej\ej`Y`c`jXek \k\ei\eZfekiXekc\jZ_\]j[Ë\eki\gi`j\gifZ_\j [\cXi\kiX`k\\kjXejjlZZ\jj\lij#gflic\jX`[\i ~gigXi\ic\likiXejd`jj`fe% I\Z_\iZ_\i[\ji\gi\e\lijgflic\j\eki\gi`j\j [`X^efjk`hl\j#\ej\YXjXekjli[`]]i\ekjd[`Xj1 i\ml\\kj`k\`ek\ie\k8:K:fekXZk#Z_Xe\kc\kj`k\ `ek\ie\k;\dX`e%]i#j`k\`ek\ie\k\jgXZ\$Z\m\ee\j%Zfd \k\edfY`c`jXekleij\Xl[\gXik\eX`i\jcfZXlo \keXk`feXloZ_XdYi\jZfejlcX`i\j#cljcfZXlo#Z\eki\j [\]fidXk`fe#efkX`i\j#gif]\jj`fee\cj[\cË`ddfY`c`\i# \og\ikjZfdgkXYc\j#\kZ% % 8ZZl\`cc`ic\jgfik\lij[\gifa\kj1c\jX`[\i~[Ôe`i c\ligifa\k\kc\jfi`\ek\ijlic\j\eki\gi`j\jc\jgclj \eg_Xj\Xm\ZZ\[\ie`\i\kc\j^l`[\i[Xejc\jkXg\j [\cXi\gi`j\[Ë\eki\gi`j\Xlgi j[\jZfej\`cc\ij [\jZ_XdYi\jZfejlcX`i\j% Jl`mi\c\jd`j\j\ei\cXk`fe\eki\c\jZ[Xekj \kc\ji\gi\e\lij% GX^\/- 9yEy=@:@8@I<J C\j\eki\gi\e\lijhl`jfl_X`k\ekZ[\ic\liXZk`m`k ½c\jZ[Xekj¾ C\jgfik\lij[\gifa\kj½c\ji\gi\e\lij¾ I\cXeZ\jËX[i\jj\~kflk\jc\j\eki\gi`j\jgij\ek\j[Xej c\j:m\ee\j\ki\jjfik`jjXek\j[\jZ_XdYi\jZfejlcX`i\j% I\cXeZ\XZZfdgX^e\kfljc\jgfik\lij[\gifa\kj hl`jfl_X`k\eki\gi\e[i\le\\eki\gi`j\% I<C8E:<1 :FEJ<@C#D@J<<EI<C8K@FE<K8::FDG8>E<D<EK ÁC8I<GI@J<;Ë<EKI<GI@J<<E:yM<EE<J :[Xek 8ik`jXe$:fdd\iXek 8^i`Zlck\li I\gi\e\li EXkli\ [\jgi\jkXk`fej D\k\ei\cXk`fe Z[Xek\ki\gi\e\li# dfY`c`j\jfeij\Xl 8ZZl\`c k\Z_e`Z`\ejZfejlcX`i\j# ZfdgkXYc\j#efkX`i\j# gif]\jj`fee\cj[\cË`ddfY`c`\i¿ :fej\`c gfliXjjli\iZfej\`c \kjl`m`kflkXlcfe^ [\cXkiXejd`jj`fe I\cXeZ\mfljXZZl\`cc\ I\cXeZ\1 mfljX`[\~[Ôe`i mfki\gifa\k# mfljfi`\ek\[Xejc\j [dXiZ_\j[\cXi\gi`j\ :FFI;FEEy<J 8ek\ee\[Ë8c j 8ek\ee\[\=cfiXZ ,'Xm\el\M`eZ\ek[Ë@e[p *'(''8c j Kc%1'+--,-,'/) =Xo1'+--*'.+,' <$dX`c1 I\cXeZ\%^Xi[7nXeX[ff%]i :fekXZk1:Z`c\:8@CCFC 0il\:c\jk`e=i\`e\k +/+''=cfiXZ Kc%1'+--+,,*/. =Xo1'+--+,)(/, <$dX`c1i\cXeZ\%cfq\i\7nXeX[ff%]i nnn%\jgXZ\$Z\m\ee\j%Zfd :fekXZk1>i^fip:FM@E?<J GX^\/. C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej JfZ`kjZffgiXk`m\j[\gif[lZk`fe\eki\gi`j\j CXe^l\[fZ$Ifljj`ccfeJZfgCI JF:@yKyJ:FFGyI8K@M<J ;<GIF;L:K@FE<EKI<GI@J<J C8E>L<;F:$IFLJJ@CCFE J:FGCI @cjËX^`k[Ële^iflg\d\ekgif]\jj`fee\cXjjfZ`Xk`fecf`(0'( [\jfZ`kjZffgiXk`m\j[\gif[lZk`feZi\e(0*.% JZfg\eki\gi`j\jCI @ek\im`\ek\ekiXejd`jj`fe\ki\gi`j\[Ë\eki\gi`j\j JËXggl`\jlic\jkXYc`jj\d\ekjÔeXeZ`\ij[lij\Xl eXk`feXcJZfg\eki\gi`j\j JfZf[\e @ek\im`\ek\egikgXik`Z`gXk`]gflii\e]fiZ\i c\]fe[j[\iflc\d\ek Jgfk JfZ`k[\ZXg`kXc$i`jhl\`ek\im`\ek\eZXg`kXc JfÔjZfg JfZ`k[\ZXlk`fee\d\ekdlkl\cc\\e^XiXek`\ [\gikjXloZffgiXk`m\j D@JJ@FEJ 8ggl`&Zfej\`cXlgi j[\jjfZ`kjZffgiXk`m\j [\gif[lZk`feJZfg #[m\cfgg\d\ek#[if`kZffgiXk`]# `e^e`\i`\ÔeXeZ` i\#fi^Xe`jXk`fe#dXeX^\d\ek 8ZZfdgX^e\d\ek~cXkiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\ gXic\jjXcXi`j 8ZZfdgX^e\d\ek~cXZiXk`fe\o$e`_`cf[\JZfg =fidXk`fe1ZffgiXk`m\j\k^\jk`feeX`i\j 9yEy=@:@8@I<J Kflk\hl`g\[\g\ijfee\jd`e`dld) XpXeklegifa\k [\kiXejd`jj`fe$i\gi`j\[Ë\eki\gi`j\J8flJ8IC fl[\ZiXk`fe[Ë\eki\gi`j\[Xejle\[peXd`hl\Zfcc\Zk`m\% GX^\// ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< 8ZZl\`c I\eZfeki\Xm\Zc\jZ[Xekj1`e]fidXk`fejlicX[dXiZ_\ [\kiXejd`jj`fe$i\gi`j\gXic\jjXcXi`j2XmXekX^\j \kc`d`k\j[\cX[dXiZ_\ 8ZZl\`c`e[`m`[l\cflile`fe[Ë`e]fidXk`feXm\Zc\j i\gi\e\lij1`e]fidXk`fejlicX[dXiZ_\[\kiXejd`jj`fe$ i\gi`j\gXic\jjXcXi`j\kjlic\jjgZ`ÔZ`kj[ljkXklk[\JZfg >iXkl`k Gi$[`X^efjk`Z`e[`m`[l\c 8eXcpj\jlicËXggifZ_\Zfefd`hl\#ÔeXeZ` i\ \kZffgiXk`m\[lgifa\k >iXkl`k :fem\ek`fe[ËXZZfdgX^e\d\ek~cXZiXk`fe ykl[\[\]X`jXY`c`kZfefd`hl\\kÔeXeZ` i\ [\cXkiXejd`jj`fe$i\gi`j\ Gifa\kZffgiXk`]\kcXYfiXk`fe[\jjkXklkj I\Z_\iZ_\[\ÔeXeZ\d\ekj[fekc\j[`jgfj`k`]jÔeXeZ`\ij [lij\XlJZfg\eki\gi`j\j Jl`m`Xgi jcXZiXk`fe[\cXZffgiXk`m\1d`j\\egcXZ\ [\jflk`cj[\^\jk`fe#jl`m`fi^Xe`jXk`fe\kgifa\k#dfek\ \eZ_Xi^\[\cË\eki\gi`j\aljhlË~cXgi\d` i\Xjj\dYc\ ^eiXc\ =fidXk`fej1eflm\Xlo[`i`^\Xekj\kXjjfZ`j$jXcXi`j =XZkli 8Zk`fejZfcc\Zk`m\j GXik`Z`gXk`fej~[`]]i\ekj^iflg\j[\kiXmX`cjlicX kiXejd`jj`fe$i\gi`j\jlicXi^`feCXe^l\[fZ$Ifljj`ccfe1 I^`fe[`jgfj`k`]G8:K< #G=:8¿ GXik\eXi`XkjXm\Zc\jij\Xlo[ËXZZfdgX^e\d\ek i^`feXlo1::@[\Dfekg\cc`\i#Ed\j\k[Ë8c j#KiXejd`9Xk# ZffgiXk`m\j[ËXZk`m`k\k[Ë\dgcf`¿ :FFI;FEEy<J JZfg\eki\gi`j\jCXe^l\[fZ$Ifljj`ccfe +il\[lCXek`jjXi^l\j$*+'.'Dfekg\cc`\i Kc%1'+-.'-'()'$=Xo1'+-.'-'()( <$dX`c1licXe^l\[fZ7jZfg%Zffg :fekXZk1A\Xe:8IK<CC@<I#[c^li^`feXc\eZ_Xi^\[\cXkiXejd`jj`fe nnn%jZfg%Zffg GX^\/0 C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej JfZ`k[\ZXlk`fedlkl\cc\Xik`jXeXc\JfZXdX JF:@yKy;<:8LK@FEDLKL<CC< 8IK@J8E8C<JF:8D8 D@JJ@FEJ JfZ`k[\ZXlk`fedlkl\cc\Xik`jXeXc\#cXJfZXdX XgflimfZXk`fe[\^XiXek`ic\jgikjXlogif]\jj`fee\cj [\jZc`\ekj[\cX9Xehl\gfglcX`i\% C\jgikjXZZfi[jÔeXeZ\ekc\jgif]\jj`fee\cjkflkXlcfe^ [\cXm`\[\cË\eki\gi`j\#[\jXZiXk`fe~jXi\gi`j\% CXJfZXdX\jkXe`d\gXi[\jgif]\jj`fee\cj[fekcË\og\ik`j\ \kcXZfeeX`jjXeZ\[\c\lidk`\im`\ee\ekZfdgck\icËkl[\ [lZ_Xi^[\Zc`\ek c\[\cXYXehl\% 9yEy=@:@8@I<J KflkZc`\ek9Xehl\gfglcX`i\gif]\jj`fee\c#hl\cjhl\jf`\ek c\jkXklkali`[`hl\\kcXkX`cc\[\cXjfZ`k% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< GXicXi\Z_\iZ_\[\gXik\eXi`Xkj#cXJfZXdXXcXYfi [\jjfclk`fej[\ÔeXeZ\d\ek`eefmXek\j#g\id\kkXek gXic\i\Zflij~[\j]fe[j[\^XiXek`\\oki`\lij#[\c`d`k\i cË\e^X^\d\ekg\ijfee\c[lZ_\][Ë\eki\gi`j\ZXe[`[Xk~cXi\gi`j\# fl[\jk`\ijZXlk`fejjfljij\im\[\cËXZZ\gkXk`fe[l[fjj`\i gXic\Zfd`k[Ë\e^X^\d\ek[\cXJfZXdX#\kjfljij\im\ [\jZi`k i\j[Ëc`^`Y`c`k[l[fjj`\iXl=fe[j[\^XiXek`\ % GX^\0' ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< Gfik\li[\gifa\k I\gi\e\li 8^\eZ\9Xehl\gfglcX`i\ EXkli\ [\jgi\jkXk`fej 8ZZl\`c :fej\`c =`eXeZ\d\ek Gij\ekXk`fe[l[fjj`\i ~cXJfZXdX I\ZflijXl=fe[j[\^XiXek`\ ;YcfZX^\[\j]fe[j :FFI;FEEy<J Gpie\j$Fi`\ekXc\j\k8l[\ Kc%1'+-/*/+/''gfjk\)-+<$dX`c1ZXk_\i`e\%dXcXm\i^e\7jl[%YXehl\gfglcX`i\%]i :fekXZk1:Xk_\i`e\D8C8M<I>E< >Xi[#?iXlk\kCfq i\ Kc%1'+--.-,+'0 <$dX`c1pXeX\c\%gXp\e$[iX`7jl[%YXehl\gfglcX`i\%]i :fekXZk1PXeXc\G8P<E$;I8@ nnn%jl[%YXehl\gfglcX`i\%]i nnn%jfZXdX%Zfd GX^\0( C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej JfZ`k`ek\igif]\jj`fee\cc\Xik`jXeXc\[\^XiXek`\[Ë`em\jk`jj\d\ekJ`X^` JF:@yKy@EK<IGIF=<JJ@FEE<CC< 8IK@J8E8C<;<>8I8EK@< ;Ë@EM<JK@JJ<D<EKJ@8>@ D@JJ@FEJ CXJ`X^`\jklekXYc`jj\d\ekX^igXicX9Xehl\[\=iXeZ\ \kkXYc`jflj]fid\[\JfZ`k[\ZXlk`fedlkl\cc\%<cc\Xk Zi\\e(0--gXic\j:_XdYi\j[\dk`\ij\k[\cËXik`jXeXk hl`\ejfekc\gi`eZ`gXcXZk`feeX`i\%Jfeic\[Ë`ejk`klk`fe [\gcXZ\XkZfe]fik\e)'',gXicËflm\ikli\[\jfeZXg`kXc ~j\gkkXYc`jj\d\ekjÔeXeZ`\ijgXik\eX`i\j[\cfe^l\[Xk\ 9EGGXi`YXj$:X`jj\[ËgXi^e\$:i[`kX^i`Zfc\Æ :i[`kdlkl\c$C:CÆJfZ`k^eiXc\$FjfJf]Xi`j % 9yEy=@:@8@I<J CXJ`X^``ek\im`\ek[Xejc\j\Zk\li[\cËXik`jXeXk#[lZfdd\iZ\# [\jgif]\jj`fejc`YiXc\j\k[\jki jg\k`k\j\eki\gi`j\j\e XggfikXekjX^XiXek`\XlokXYc`jj\d\ekjYXeZX`i\j%<cc\Xggfik\ X`ej`Z_Xhl\Xee\jX^XiXek`\~gi j[\,'''gifa\kj% ;@JGFJ@K@=J;Ë8@;<ÁC8I<GI@J< Legifa\k[\i\gi`j\[Ë\eki\gi`j\g\lkgij\ek\ilee`m\Xl [\i`jhl\#\ek\id\j[\m`XY`c`kZfefd`hl\#[\jfcmXY`c`k [\jXZk`]jgif]\jj`fee\cj#[\jfcmXY`c`k[\cË\dgilek\li# \kc\jkXYc`jj\d\ekj[\Zi[`kg\lm\ekd\kki\[\jij\im\j hlXek~jX]X`jXY`c`k%8gi jXeXcpj\Zfefd`hl\\kÔeXeZ` i\ [lgifa\k#cË`ek\im\ek`fe[\cXJ`X^`i\e]fiZ\c\gcXe[\^XiXek`\ [\cË\dgilek\li% CX^XiXek`\J`X^`g\id\k~cËkXYc`jj\d\ekYXeZX`i\ [\d`e`d`j\ijfei`jhl\\kX`ej`[ËXZZfdgX^e\ijfeZc`\ek [Xejjfegifa\k[Ë`ejkXccXk`fe%<eZXj[\[]X`ccXeZ\ [Ële\dgilek\li^XiXek`gXi\cc\#cXJ`X^`j\jlYjk`kl\ ~cl`gfli`e[\de`j\icXYXehl\j\cfec\jdf[Xc`kjgiml\j ~cXj`^eXkli\[lZfekiXk[\gik% Gij\ek\^iZ\~gclj[Ële\ki\ekX`e\[\[`i\Zk`fej \kXek\ee\j#cXJ`X^`f]]i\#flki\jX^XiXek`\ÔeXeZ` i\# le\gXc\kk\[\j\im`Z\j[\jk`ej~Xdc`fi\ic\ÔeXeZ\d\ek [\cË\eki\gi`j\\eki\k`\eg\ijfeeXc`j#Zfej\`c# jl`m`[\cË\eki\gi`j\m`XJ`X^efjk`Z % GX^\0) GXiX`cc\lij#kflaflijjflZ`\lj\[\]XZ`c`k\icËXZZ jXlZi[`k Xlgclj^iXe[efdYi\#cXJ`X^`dlck`gc`\c\jXZZfi[j[\ gXik\eXi`XkXm\Zc\jZfcc\Zk`m`kjk\ii`kfi`Xc\j[fekcXI^`fe CXe^l\[fZ$Ifljj`ccfe #g\id\kkXekX`ej`Xlo\eki\gi\e\lij [\YeÔZ`\i[\Zfe[`k`fejgXik`Zlc` i\d\ek]XmfiXYc\j ~c\lijÔeXeZ\d\ekj% CËXZk`m`k[\cXJ`X^`\jkle\XZk`m`k[Ë`ek\id[`Xk`fehl` jXk`j]X`k~cX]f`jcË\dgilek\li#\ecl`g\id\kkXek[ËfYk\e`i[\ cXYXehl\leXZZfi[~jX[\dXe[\[\ZfeZflij#\k^Xc\d\ek cËkXYc`jj\d\ekgik\li\ecl`f]]iXekle\^XiXek`\[\hlXc`k% CXJ`X^`\jkleflk`c[\dlklXc`jXk`feXlj\im`Z\[\jgfik\lij [\gifa\k#hlË`cjf`kXik`jXe#Zfdd\iXek#gif]\jj`fec`YiXc\ flki jg\k`k\\eki\gi`j\% :FFI;FEEy<J :_XdYi\[\dk`\ij\k[\cËXik`jXeXk .Yflc\mXi[[\:feÕ\ek --'''G\ig`^eXe Kc%1'+-/,()'-0 GfikXYc\1'-/'(/+0)0 =Xo1'+-/*+)'/0 :fekXZk1Jpcm`\:8D9IFEP nnn%j`X^`%Zfd GX^\0* C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Jfi`[\Z JFI@;<: D@JJ@FEJ Jfi`[\Z\jkcXjfZ`k[\ZXg`kXc`em\jk`jj\d\ek [lCXe^l\[fZ$Ifljj`ccfe%<cc\XkZi\\e(0/* ~cË`e`k`Xk`m\[\jZfcc\Zk`m`kjcfZXc\j% JfeZXg`kXcXZkl\c\jk[\))D`\kj\igXik`kX`ej`1 +0#0) I^`feCXe^l\[fZ$Ifljj`ccfe\k;gXik\d\ekj ),#-' :X`jj\[ËgXi^e\CXe^l\[fZ$Ifljj`ccfe (.#(. :X`jj\[\j[gkj\kZfej`^eXk`fej .#*( 8lki\j Jfi`[\Z\jkleXZk\li[`k[\½gifo`d`k¾#`em\jk`jjXek\e]fe[j gifgi\j\khlXj`$]fe[jgifgi\j[Xejc\jGD<[\cXi^`fe[\ dXe` i\hlXj`$\oZclj`m\%@em\jk`jj\li^eiXc`jk\#\cc\gi`m`c^`\ kflk\]f`jc\jj\Zk\lij[\cË`e[ljki`\\k[\jj\im`Z\j~cË`e[ljki`\% Kflk\e]Xmfi`jXekc\ÔeXeZ\d\ek[\cXZiXk`fe#Jfi`[\Z XZZfdgX^e\Xljj`c\[m\cfgg\d\ek\kcXkiXejd`jj`fe% ;\gl`jjXZiXk`fe#Jfi`[\ZX`em\jk`gclj[\+)d`cc`fej[Ë\lifj [Xej+)'\eki\gi`j\j#]Xmfi`jXek[ldd\ZflgcXZiXk`fe [\gclj`\lijd`cc`\ij[Ë\dgcf`j% 8l*(dXij)''.jfegfik\]\l`cc\Zfdgi\eX`k0'jfZ`kj ½X]Ôc`\j¾i\gij\ekXekle\eZflijYilkXlY`cXe[\gclj [\(,#,d`cc`fej[Ë\lifj% ;@JGFJ@K@=;Ë8@;<ÁC8I<GI@J< Jfi`[\ZÔeXeZ\c\jY\jf`ej`ddXki`\cj[\j\eki\gi`j\j i\Z_\iZ_\#[gkj[\Yi\m\kj#]fiZ\Zfdd\iZ`Xc\# `em\jk`^Xk`fej~cË\ogfik#]fidXk`fe¿ \kc\Y\jf`e\e]fe[j [\iflc\d\ekhlXe[`c\jkc`Xl[m\cfgg\d\ek[\cËXZk`m`k% C\dfekXekdfp\e[\j\j`ek\im\ek`fej\jk[\(,'B`% :FFI;FEEy<J Jfi`[\Z Ij`[\eZ\cË8Zifgfc\ 0,+Xm\el\A\XeD\idfq *+'''Dfekg\cc`\i Kc%&=Xo1'+00)**)+'fl'+00)**)+( <$dX`c1ZfekXZk7jfi`[\Z%]i nnn%jfi`[\Z%]i :fekXZkj1DXiZ;<C8KKI<\k>\e\m` m\9C8E:# i\jgfejXYc\j[Ë`em\jk`jj\d\ekj GX^\0+ C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Le`fei^`feXc\[\j\eki\gi`j\j[Ë`ej\ik`fe [lCXe^l\[fZ$Ifljj`ccfeLi\`CI LE@FEIy>@FE8C< ;<J<EKI<GI@J<J;Ë@EJ<IK@FE ;LC8E>L<;F:$IFLJJ@CCFE LI<@CI CËLe`fei^`feXc\[\j\eki\gi`j\j[Ë`ej\ik`fe[l CXe^l\[fZ$Ifljj`ccfe\jkle\XjjfZ`Xk`fei\^iflgXek [\j\eki\gi`j\j[Ë`ej\ik`fegXicXgif[lZk`fe<@ flgXi c\kiXmX`ck\dgfiX`i\<@KK [\cXi^`fe%<cc\\jkd\dYi\ [\cX][iXk`fe:E<@:fd`keXk`feXc[\j\eki\gi`j\j [Ë`ej\ik`fe %Jlic\j*,\eki\gi`j\j[Ë`ej\ik`fe[lCXe^l\[fZ$ Ifljj`ccfe#)/jfekX[_i\ek\jXlij\XlLi\`$:E<@% D@JJ@FEJ CËLi\`Xle\ki`gc\d`jj`fe% I\gij\ekXk`fe <cc\i\gij\ek\c\j<@$<@KKXlgi j[\jgflmf`ijglYc`Zj \k[\jgXik\eX`i\jZfefd`hl\j\kjfZ`Xlo~cËZ_\cc\ i^`feXc\#[gXik\d\ekXc\\kcfZXc\%<cc\]Xmfi`j\c\c`\e Xm\Zc\jfi^Xe`jXk`fejgif]\jj`fee\cc\j% 8ggl`k\Z_e`hl\ <cc\X`[\~cXjkilZkliXk`fe#Xl[m\cfgg\d\ek \k~cXZiXk`fe[\eflm\cc\j\eki\gi`j\j%<cc\Xggfik\ Xlo<@$<@KKZfej\`cj#X`[\~cX^\jk`fe\kXldfekX^\ [\[fjj`\ijÔeXeZ`\ij%<cc\X`[\~cXd`j\\egcXZ\\k~cX gif]\jj`feeXc`jXk`fe[\cËXZZfdgX^e\d\ekjfZ`fgif]\jj`fee\c% 8e`dXk`fe CËLi\`\jklec`\l[ËZ_Xe^\j\eki\c\j\eki\gi`j\j[Ë`ej\ik`fe% <cc\d\k\eÅlmi\le\\ekiX`[\dlkl\cc\#\ei`Z_`kcXiÕ\o`fe jlicËmfclk`fe[\j<@\k<@KK#\cc\g\id\k[\kiXmX`cc\i jli[\jjla\kjZfddlej%GXi\o\dgc\#cËle`fei^`feXc\ fi^Xe`j\[\j]fidXk`fejgflic\jjXcXi`j[\j<@$<@KK% 9yEy=@:@8@I<J CËLi\`XZZfdgX^e\c\jgfik\lij[\gifa\k[Ë\eki\gi`j\[Ë`ej\ik`fe% ¿& GX^\0, C\jXZk\lij[lIj\Xli^`feXc[ËXZZfdgX^e\d\ek ~cXkiXejd`jj`fe\kc\lijgi\jkXk`fej Le`fei^`feXc\[\j\eki\gi`j\j[Ë`ej\ik`fe [lCXe^l\[fZ$Ifljj`ccfeLi\`CI C<G8I:FLIJ;LI<GI<E<LI Gfik\li[\gifa\k I\gi\e\li @e]fidXk`feÆ8ZZl\`c Ifi`\ekXk`fe Gi$[`X^efjk`Z$GcXe[ËXZk`fej Ifi`\ekXk`fe 8ZZfdgX^e\d\ek[lgifa\k 9flZcX^\[lgcXe[\ÔeXeZ\d\ek 8ZZfdgX^e\d\ekXl [m\cfgg\d\ek[\j<@$<@KK :FFI;FEEy<J Le`fei^`feXc\[\j\eki\gi`j\j [Ë`ej\ik`fe[lCXe^l\[fZ$Ifljj`ccfe -0`dgXjj\DXZ>X]]\p *+'.'Dfekg\cc`\i Kc%1'+00,()0., =Xo1'+00,()0.<$dX`c1li\`$ci7nXeX[ff%]i nnn%Ze\`%fi^ GX^\0- EXkli\ [\jgi\jkXk`fej 8ZZl\`c :fej\`c +% C<J=@E8E:<D<EKJ C\j[`]]i\ek\j]fid\j[ËX`[\jÔeXeZ` i\j GX^\0/ GflidfY`c`j\ic\jYfejÔeXeZ\d\ekjXlYfedfd\ek gX^\('' GXik`Z`gXk`feXlZXg`kXc gX^\('( I\e]fiZ\d\ek[\j]fe[jgifgi\j gX^\((' >XiXek`\j gX^\((0 =`eXeZ\d\ek[lgifa\k^cfYXc[\cË\eki\gi`j\ gX^\()) =`eXeZ\d\ek[lZfej\`c gX^\()- =`eXeZ\d\ek[\ji\Zilk\d\ekj gX^\(). 8lki\jÔeXeZ\d\ekj GX^\00 C\jÔeXeZ\d\ekj GXik`Z`gXk`feXlZXg`kXc JFI@;<: F9A<:K@= @em\jk`jj\li\eZXg`kXc#Jfi`[\ZXggfik\j\jdfp\ej# j\jZfdgk\eZ\j\kjfeij\Xlgflihl\c\jgifa\kj gij\ekjYeÔZ`\ek[\jd\`cc\li\jZ_XeZ\j[\jlZZ j% 9yEy=@:@8@I<J J\Zk\lij[\cË`e[ljki`\\k[\jj\im`Z\j~cË`e[ljki`\ <eki\gi`j\`dgcXek\gi`fi`kX`i\d\ek\ei^`fe CXe^l\[fZ$Ifljj`ccfe <eki\gi`j\\eZiXk`fe#\ei\gi`j\#\e[m\cfgg\d\ek# \ekiXejd`jj`fe#~]fikgfk\ek`\c[\Zif`jjXeZ\ <eki\gi`j\j\lc\fl\ejpe[`ZXk`fe :FE;@K@FEJ;Ë8KKI@9LK@FE Jli[Z`j`fe[ËleZfd`k[Ë\e^X^\d\ekaljhlË~ +,''''`Xl$[\c~[Z`j`fe[lZfej\`c[ËX[d`e`jkiXk`fe Zfdgfj[\i\gij\ekXekj[\jgi`eZ`gXloXZk`feeX`i\j# c\^iflg\Fjf\kcXKijfi\i`\^eiXc\ ymXclXk`fe[\jhlXc`kj[lgfik\li[\gifa\k# [lZ_\][Ë\eki\gi`j\fl[li\gi\e\li 8eXcpj\[lgcXe[ËX]]X`i\j E^fZ`Xk`feg\id\kkXek[\[Ôe`ic\jdf[Xc`kjali`[`hl\j \kÔeXeZ` i\j[lZfeZflij[\Jfi`[\Z E8KLI<;<CË8@;< Jfi`[\Z`em\jk`k[\,''''~(''''''`\e]fe[jgifgi\j [Xejc\jGD<&GD@jflj]fid\[\1 gi`j\j\egXik`Z`gXk`fej\eZXg`kXcXZk`fejfi[`eX`i\j flgi`m`c^`\j #[XejlegcX]fe[^eiXc\d\ek`e]i`\li ~cXd`efi`k[\YcfZX^\# fYc`^Xk`fejZfem\ik`Yc\j# Zfdgk\$ZfliXek\oZ\gk`fee\cc\d\ek % :FEK8:K Jfi`[\ZgX^\0+ GX^\('' C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j GIÜK;Ë?FEE<LI$G=@C F9A<:K@= CËX`[\ÔeXeZ` i\[\jGÔc\jk[\jk`e\~i\e]fiZ\i c\j]fe[jgifgi\j[l[`i`^\XekflXjjfZ`j[Ë\eki\gi`j\ XÔe[\c\lig\id\kki\leXZZ jgclj]XZ`c\XlZi[`kYXeZX`i\ flXloX`[\ji^`feXc\j% :FE;@K@FEJ;Ë8KKI@9LK@FE JXl]\oZ\gk`fe#c\gik[Ë_fee\lie\g\lkki\jlgi`\li ~cËXggfikg\ijfee\c[lZiXk\li[Ë\eki\gi`j\% C\gik[Ë_fee\li\jkZfdgcd\ekX`i\[ËlegikXZZfi[ gXilegXik\eX`i\ÔeXeZ`\i%@c\jkZfdgXk`Yc\Xm\Zkflk\j c\jXlki\j]fid\j[ËX`[\jXZZfi[\jXlZiXk\li%C\jd\dYi\j [l:fd`k[ËX^id\ek\oXd`e\ekc\gcXe[\[m\cfgg\d\ek ^cfYXc[lgifa\k\kgi\ee\ek\eZfdgk\c\j`em\jk`jj\d\ekj dXki`\cj#`ddXki`\cj\kc\jY\jf`ej[\kijfi\i`\%C\[fjj`\i Zfdgfik\efkXdd\eklegim`j`fee\c[Ë\ogcf`kXk`fejli kif`jXej#legcXe[\ÔeXeZ\d\ekjlikif`jXej\klegcXe [\kijfi\i`\gim`j`fee\c[\cXgi\d` i\Xee\% E8KLI<;<CË8@;< Gikg\ijfee\c~kXloqif#jXejZXlk`fee`^XiXek`\ g\ijfee\cc\#[ËledfekXekZfdgi`j\eki\*'''` \k),'''`dfekXek[`]]i\ekj\cfec\jgcXk\j$]fid\j Jl`m`[lgifa\kgXic\jgcXk\j$]fid\jg\e[Xekkflk\ cX[li\[\ji\dYflij\d\ekj[lgikkXYc\Xl[\Yfi[ ki`d\jki`\c#\eki\k`\ej¿ \kjl`m`gXilegXiiX`e# Z_\][Ë\eki\gi`j\#XZZ\gkXek[\[fee\i[lk\dgj XlZiXk\lifli\gi\e\li :FEK8:K GÔcgX^\/' GX^\('( C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j GI@J<;<G8IK@:@G8K@FE 8L:8G@K8C;<J<EKI<GI@J<J :FFGyI8K@M<J$J:FGCI F9A<:K@= :fe]fik\ic\j]fe[jgifgi\j\kXZZfdgX^e\icË\eki\gi`j\ [Xejj\j[`]]i\ek\jg_Xj\ji\gi`j\#[m\cfgg\d\ek % 9yEy=@:@8@I<J Kflk\jjfZ`kjZffgiXk`m\j[\gif[lZk`feJZfg \kJfZ`kj ZffgiXk`m\j[Ë`ekikZfcc\Zk`]J:@: jflj]fid\[\J8ICflJ8% :FE;@K@FEJ;Ë8KKI@9LK@FE :\kk\X`[\XZZfdgX^e\cXZfejk`klk`fe[\jZXg`kXlog\idXe\ekj% E8KLI<;<CË8@;< Gi`j\[\gXik`Z`gXk`feXlZXg`kXcflZfdgk\$ZfliXek Ycfhl% CËX`[\eË`ek\im`\ekaXdX`jj\lc\1gcXe[\ÔeXeZ\d\ek Xm\ZJfZf[\e\k&flXlki\jfi^Xe`jd\j[\cËZfefd`\ jfZ`Xc\%JË`c\o`jk\lei\gfik~eflm\Xle^Xk`]#eË`ek\im`\ek hlËXgi jXgli\d\ek[lgXjj`]% CË\eZflij^cfYXc[\jkXYc`jj\d\ekjÔeXeZ`\ij[lij\Xl [\jJZfg\jkgcX]fee~,'[\jZXg`kXlog\idXe\ekj[\ cXJZfg%@ek\im\ek`fegcX]fee\~*,[lZXg`kXcZfejk`kl% :XiXZki`jk`hl\j[lgif[l`k DfekXek1[\*''''`~(,''''` ;if`k[\mfk\gifgfik`fee\c gimljkXklkX`i\d\ekZ]%cf`[l(*&'.&(00) Legfjk\[ËX[d`e`jkiXk\liij\im~JGFK gflic\j`ek\im\ek`fejjlgi`\li\j~.,'''` gimljkXklkX`i\d\ek :fk =iX`j[\[fjj`\i ;`m`[\e[\jfl`ekikjjliZfdgk\jZfliXekj :FEK8:K JZfgCIgX^\// GX^\(') C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j JF:@yKy;<=@E8E:<D<EK ;<J<EKI<GI@J<J;Ë@EJ<IK@FE JF=@E<@ $LI<@CI F9A<:K@= 8ggfik\ileZfeZflijÔeXeZ`\i~cXZiXk`fe#~cXi\gi`j\ \kXl[m\cfgg\d\ek[\j\eki\gi`j\j[Ë`ej\ik`feX[_i\ek\j ~cX][iXk`fe:E<@% :FE;@K@FEJ;Ë8KKI@9LK@FE C\j\eki\gi`j\j[Ë`ej\ik`fe FYa\k[\jgifa\kjc`^`Yc\j1 ZiXk`fe# i\gi`j\# [m\cfgg\d\ek# [`m\ij`ÔZXk`fe# Zfejfc`[Xk`fe% :FE;@K@FEJ;Ë8KKI@9LK@FE Üki\Zfem\ek`fee\eki\gi`j\[Ë`ej\ik`fe Üki\X^i½\eki\gi`j\jfc`[X`i\¾ Üki\X[_i\ek[l:E<@ Üki\\eki[XejcX[dXiZ_\[\cXY\cc`jXk`fe[\j<@# HlXc`i\` 8mf`iile`Xld`e`dld[\loXlki\j`ek\im\ek`fej [Xejc\gcXe[\ÔeXeZ\d\ek[lgifa\k FYc`^Xk`fe[\jl`m`Xeel\c E8KLI<;<CË8@;< :Xg`kXc\kZfdgk\$ZfliXek[ËXjjfZ` GikgXik`Z`gXk`] 8ggfikXjjfZ`Xk`] 9`cc\k~fi[i\ DfekXek1[\.,''~,''''` :FEK8:K Li\`CIgX^\0, GX^\('* C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j CË8GGFIK<E=FE;JGIFGI<J$ 8@I;@< F9A<:K@= 8ZZfdgX^e\ic\j\eki\gi`j\jjfc`[X`i\j [Xejc\li[m\cfgg\d\ek% 9yEy=@:@8@I<J :\jflk`cjjfek\oZclj`m\d\ek[\jk`ejXlojkilZkli\j[Ë`ej\ik`fe gXicËXZk`m`kZfefd`hl\J@8<<@<#\eki\gi`j\j`ejiXek\j# ^iflg\d\ekj[Ë\dgcfp\lij#i^`\j[\hlXik`\ij#XjjfZ`Xk`fej [\j\im`Z\jXlog\ijfee\j\kc\j\eki\gi`j\jjfc`[X`i\j% E8KLI<;<CË8@;< Flk`cjÔeXeZ`\ij =fe[jZfddle[\gcXZ\d\ek`ej\ik`feZfefd`hl\ =:G@< @c\jk[\jk`eXloXjjfZ`Xk`fejfljfZ`kjZfdd\iZ`Xc\j ~mfZXk`fe[Ë`ej\ik`fe% EXkli\1XggfikXm\Z[if`k[\i\gi`j\ DfekXek1[\,'''`~*)''''` :fk1)gXiXe I\dYflij\d\ek1\ele\]f`j#~,XejdXo`dld JfZ`k[Ë`em\jk`jj\d\ek=iXeZ\8Zk`m\J@=8 @c\jk[\jk`eXlojfZ`kjZfdd\iZ`Xc\jJ8IC#JZfg# J8¿ ~mfZXk`fe[Ë`ej\ik`fe^\j[\)Xejd`e`dld% EXkli\1gikjgXik`Z`gXk`]j DfekXek1[\(,'''`~*)''''` :fk1)gXiXe% ;li\1jli,XejdXo`dldXm\Zgfjj`Y`c`k[\[`]]i [\)XejdXo`dld% I\dYflij\d\ek1gif^i\jj`]Xm\Zgfjj`Y`c`k[\[`]]i% GX^\('+ GifZ[li\ :fekXZk\imfki\[c^Xk`fe[gXik\d\ekXc\8`i[`\ Le\\og\ik`j\$Zfej\`c[\mfki\gifa\kmfljj\iXgifgfj\ ^iXkl`k\d\ek CX[Z`j`fe[\ÔeXeZ\d\ek\jkgi`j\gXicËle[\jZfd`kj [\j\e^X^\d\ekj[\cË8`i[`\ 8ZZfdgX^e\d\ek$Zfej\`c^iXkl`k[\mfki\\eki\gi`j\ \eZXj[\ÔeXeZ\d\ekgXi8`i[`\ :FEK8:K 8`i[`\gX^\+) GX^\(', C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j C<:Iy;@KJFC@;8@I<$8@I;@< F9A<:K@= G\id\kki\Xlo[\dXe[\lij[Ë\dgcf`#eËXpXekgXjXZZ j ~legikYXeZX`i\#[\Zi\ic\ligifgi\\eki\gi`j\% 9yEy=@:@8@I<J 9eÔZ`X`i\j[lID@ ;\dXe[\lij[Ë\dgcf` E8KLI<;<CË8@;< DfekXek1[\,''~)*'''` ;li\1,XejdXo`dld KXlo[Ë`ekik1~gXik`i[\,#)gXiXe :feki`Ylk`fe[\jfc`[Xi`k1 )[\Zfk`jXk`fem\ij\~le]fe[j[\^XiXek`\dlkl\c I\dYflij\d\ek1d\ejl\c >XiXek`\1 ZXlk`fejfc`[X`i\[\cË\ekfliX^\[\,'[ldfekXek[lgik :FEK8:K 8`i[`\gX^\+) GX^\('- C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j C<GIÜK;Ë?FEE<LI$8@I;@< F9A<:K@= 8l^d\ek\ic\j]fe[jgifgi\j[\j[\dXe[\lij[Ë\dgcf` hl`jfl_X`k\ekZi\ic\li\eki\gi`j\% 9yEy=@:@8@I<J 9eÔZ`X`i\j[lID@ ;\dXe[\lij[Ë\dgcf` E8KLI<;<CË8@;< DfekXek1,'[lgikgi`eZ`gXciXc`jfl^XiXek`gXicË8`i[`\ ;li\[\i\dYflij\d\ek1)Xej_fij[`]]i KXlo[Ë`ekik1' :fe[`k`fej IXc`j\ileXggfikg\ijfee\cfl]Xd`c`Xc[XejcË\eki\gi`j\ Xi^\ek#dXki`\c Xldf`ej^XcXldfekXek[lgik [Ë_fee\li E\gXjgflmf`iYeÔZ`\i[\cË8ZZi\<[\e :FEK8:K 8`i[`\gX^\+) GX^\('. C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j C<:FEKI8K ;<;yM<CFGG<D<EK KI8EJD@JJ@FE$FJyF F9A<:K@= >iZ\Xljflk`\e[\cXI^`feCXe^l\[fZ$Ifljj`ccfe# c\ZfekiXk[\[m\cfgg\d\ekkiXejd`jj`fe\jkleÔeXeZ\d\ek jXej^XiXek`\%JfefYa\Zk`]\jk[\]XZ`c`k\ic\ÔeXeZ\d\ek [\cXi\gi`j\gXiZi[`kYXeZX`i\#\e[`d`elXekcXZ_Xi^\ [\i\dYflij\d\ek[\cX[\kk\[ËXZhl`j`k`fejlic\j[\lo gi\d` i\jXee\jhl`jl`m\ekcXi\gi`j\#gi`f[\cXgclj j\ej`Yc\% 9yEy=@:@8@I<J C\jfgiXk`fejZfeZ\ie\jjfek1 i\gi`j\[\GD<gXile\jfZ`k_fc[`e^ Zfejk`kl\gflicXi\gi`j\# i\gi`j\[\GD<gXi[\j\eki\gi`j\j\o`jkXek\j [Xejc\ZX[i\[\c\liZif`jjXeZ\\ok\ie\% C\jXZk`m`kjc`^`Yc\jjfek[Ôe`\jgXicXI^`fe CXe^l\[fZ$Ifljj`ccfe% :FE;@K@FEJ;Ë8KKI@9LK@FE 8Z_XkdXafi`kX`i\[\gXikjfl[ËXZk`fej#[\]fe[j[\Zfdd\iZ\# ]iX`j[ËXZhl`j`k`fe#i\e]fiZ\d\ek[l]fe[j[\iflc\d\ek% E8KLI<;<CË8@;< C\ZfekiXk[\[m\cfgg\d\ekkiXejd`jj`feXZZfdgX^e\ fYc`^Xkf`i\d\eklegikYXeZX`i\[Ële\[li\d`e`dld [\,Xej%C\dfekXek[lZfekiXk[\[m\cfgg\d\ek kiXejd`jj`fe\jkXldXo`dld[\+'[\cË\ej\dYc\[\jgikj d`j\egcXZ\%:i[`kjXej^XiXek`\#[\+''''`~)+''''` XlZle\ji\ki\cc\flg\ijfee\cc\jlicË\eki\gi`j\ fljfe[`i`^\Xek %CX[li\#`[\ek`hl\~Z\cc\[lZfeZflij YXeZX`i\XjjfZ`#\jk[\.XejdXo`dldXm\Zle[`]]i [ËXdfik`jj\d\ek[lZXg`kXchl`g\lkXkk\`e[i\)Xej% :FEK8:K FjfgX^\.. GX^\('/ C\jÔeXeZ\d\ekj I\e]fiZ\d\ek[\j]fe[jgifgi\j ;@JGFJ@K@=J8=K<JF:@yKy 8LO@C@8@I<;<=@E8E:<D<EK ÁC8KI8EJD@JJ@FE ;Ë<EKI<GI@J< $:>GD< F9A<:K@= CX:>GD<\jk~cËfi`^`e\[\cXJ8=K<hl`XgflifYa\Zk`] [\jflk\e`ic\i\gi\e\li[Xejjfegifa\kjXejc\½ZfekiX`e[i\ ~iXZ_\k\ijfekiXmX`c¾%>iZ\~cXdfY`c`jXk`fe\k~cX gXik`Z`gXk`fe[\j\eki\gi`j\jX[_i\ek\j~cX:>GD<# Z\[`jgfj`k`]m`j\~g\id\kki\Xli\gi\e\li[\½YflZc\i¾ jfegcXe[\ÔeXeZ\d\ekgXiXggfik[\]fe[jgifgi\j jXejgfliXlkXeke^c`^\icËXZZfdgX^e\d\ek[\cXi\gi`j\% 9yEy=@:@8@I<J C\ji\gi\e\lij[\GD<\kKG<[lCXe^l\[fZ$Ifljj`ccfe \dgcfpXek[\jjXcXi`j% E8KLI<;<CË8@;< Flk`cj[Ë`ek\im\ek`fe Á_Xlk\li[\),dXo`dld[lgi`o[\Z\jj`fe gXigi`j\[\gXik`Z`gXk`fejd`efi`kX`i\j#Xggfik\e Zfdgk\ZfliXek\kgik[Ë_fee\liXli\gi\e\li% Df[\[Ë`ek\im\ek`fe jc\Zk`fe[\j\eki\gi`j\jc`^`Yc\jgXic\Zfd`k [Ëfi`\ekXk`fe2 `ejkilZk`fe[\j[fjj`\ijgXileZfcc ^\[\Z_\]j [Ë\eki\gi`j\\k[Ë\og\ikjk\Z_e`hl\j\kÔeXeZ`\ij2 [j`^eXk`fe[ËlegXiiX`ehl`XZZfdgX^e\iXcXi\gi`j\% C\Z[XekZfej`^e\('[lgi`o[\m\ek\\eZfdgk\J8=K<# c\gfikX^\\jkkl[`gfli,Xej#cXi\gi`j\\jkjl`m`\gXi c\Zfd`km`XlekXYc\Xl[\Yfi[mXc`[gXic\gXiiX`e% :\[`jgfj`k`]\jkZldlcXYc\Xm\Zc\jX`[\j\kefkXdd\ek Z\cc\jd`j\j\egcXZ\gXicXI^`feCXe^l\[fZ$Ifljj`ccfe% :FEK8:K :>GD<CIgX^\-* GX^\('0 C\jÔeXeZ\d\ekj >XiXek`\j 8@;<ÁCË@EM<JK@JJ<D<EK I<GI@J<$J@8>@ F9A<:K@= Fgk`d`j\icËXZZ jXloZi[`kjYXeZX`i\jgflig\id\kki\ cXiXc`jXk`fe[\gifa\kjjkiXk^`hl\jXÔe[\YflZc\i c\jgcXej[\ÔeXeZ\d\ek% 9yEy=@:@8@I<J <eki\gi`j\j[\cËXik`jXeXk#[lZfdd\iZ\#gif]\jj`fej c`YiXc\j#\eki\gi`j\ji\^iflg\jjfljc\mfZXYc\_XY`kl\c [\½gif]\jj`fee\cj¾#g\k`k\j\eki\gi`j\j[fekc\Z_`]]i\ [ËX]]X`i\je\[gXjj\gXj,d`cc`fej[Ë\lifj%:\j\eki\gi`j\j# hl\cc\hl\jf`kc\li]fid\ali`[`hl\\eki\gi`j\`e[`m`[l\cc\# jfZ`k [f`m\ekki\`ddXki`Zlc\jXlig\ikf`i\ [\jdk`\ij\k&flXlI:Jfl`ejZi`k\j~leFi[i\% Gifa\kj[\i\gi`j\c`^`Yc\j 8Z_Xk[Ële\\eki\gi`j\\o`jkXek\#jf`kgXiXZ_Xk[ËleXZk`] c\]fe[j[\Zfdd\iZ\c\gcljjflm\ek #jf`kgXiXZ_Xk [\gXikjfl[ËXZk`fej\eml\[\[k\e`i`dd[`Xk\d\ek cX[`i\Zk`fe\]]\Zk`m\[\cË\eki\gi`j\% :FE;@K@FEJ;Ë8KKI@9LK@FE ;g\ej\jc`^`Yc\j DXki`\c#dfY`c`\i#m_`Zlc\#XdeX^\d\ek#kiXmXlo# gXikjjfZ`Xc\j#]fe[j[\Zfdd\iZ\#[if`kXlYX`c# [if`k[Ë\eki\]iXeZ_`j\#`ddfY`c`\igif]\jj`fee\c# Y\jf`e\e]fe[j[\iflc\d\ek% :i[`kjc`^`Yc\j :i[`k~dfp\e\kcfe^k\id\ :i[`kYX`cdfY`c`\i\k`ddfY`c`\i CfZXk`feÔeXeZ` i\flefe :i[`km\e[\li CXJ`X^``ek\im`\ek\e^XiXek`\jli[\jZi[`kj[ËledfekXek d`e`dld[\*,''`#dXo`dld[\(''''''`[Ële\[li\ [\),~(/'df`j% GX^\((' E8KLI<;<CË8@;< 8gi jkl[\\kmXc`[Xk`fe[l[fjj`\i#cX^XiXek`\[\cXJ`X^` g\lkki\[fee\XloYXehl\jgflile\hlfk`kXccXek [\)'~.'[lZi[`kZfej\ek`gXiZ\cc\j$Z`% CXJ`X^`g\lk[fee\ijX^XiXek`\~_Xlk\li[\,' ~lem\e[\li[Ë\eki\gi`j\hl`Zfej\ekleZi[`km\e[\li ~cËXZhli\li% CXJ`X^`[`jki`Yl\gXi[c^Xk`fecX^XiXek`\[\j\jgXik\eX`i\j \eZfdgcd\ek[\jXgifgi\^XiXek`\Jf]Xi`jgXi\o\dgc\ % GXiX`cc\lij#jflZ`\lj\[\]XZ`c`k\icËXZZ jXlZi[`k Xlgclj^iXe[efdYi\#cXJ`X^`XgXjjleXZZfi[jgZ`Ôhl\ [\gXik\eXi`XkXm\ZcXI^`feCXe^l\[fZ$Ifljj`ccfe g\id\kkXekXlo\eki\gi\e\lijjXk`j]X`jXek~Z\ikX`ejZi`k i\j [\YeÔZ`\i[\Zfe[`k`fejgXik`Zlc` i\d\ek]XmfiXYc\j ~c\lijÔeXeZ\d\ekj% 8lki\X`[\ 8Ôe[\]Xmfi`j\icXgi\ee`k[\j\eki\gi`j\j#cXJ`X^` gifgfj\Xloi\gi\e\lijhlË\cc\Zfeki\$^XiXek`k#lej\im`Z\ [\gim\ek`fe[\ji`jhl\jefddJ`X^efjk`Z%LeYXifd ki\ ÔeXeZ`\ig\id\k~cË\eki\gi`j\[ËXc\ik\ijfeZfej\`cc\i J`X^efjk`Z[ jcX[k\Zk`fe[Ële\j`klXk`feXefidXc\#XÔe [Ëm`k\ic\j`eZ`[\ekj\kc`d`k\ic\j\]]\kjc`jXlo[`]ÔZlckj Zfefd`hl\j%C\J`X^efjk`Zg\id\k[\YeÔZ`\i[lYfe Zfej\`cXlYfedfd\ek\k[\Zfej\im\icXZfeÔXeZ\ [lYXehl`\i% :FEK8:K J`X^`gX^\0) GX^\((( C\jÔeXeZ\d\ekj >XiXek`\j G8:K<=FE;JIy>@FE8C ;<>8I8EK@<$Iy>@FE C8E>L<;F:$IFLJJ@CCFE G8IK<E8I@8KIy>@FE&FJyF$=FE;JIy>@FE8C ;<>8I8EK@<<E=8M<LI;<JGD<<K;<JGD@ F9A<:K@= Gflifgk`d`j\icËXZZ jXloZi[`kjYXeZX`i\j[\jg\k`k\j\k dfp\ee\j\eki\gi`j\jGD< \kg\k`k\j\kdfp\ee\j`e[ljki`\j GD@ i^`feXc\j#cXI^`feCXe^l\[fZ$Ifljj`ccfe\kFjf fekj`^eleXZZfi[jgZ`Ôhl\[\gXik\eXi`Xk#m`XcXZiXk`fe [Ële]fe[ji^`feXc[\^XiXek`\=I> % Lk`c`j\eZfdgcd\ek[\j]fe[jeXk`feXlo[\^XiXek`\^ij gXiFjf#c\=I>#ZigXicXI^`feCXe^l\[fZ$Ifljj`ccfe# ]XZ`c`k\c\ÔeXeZ\d\ek[\jgifa\kj#\eXl^d\ekXekcX^XiXek`\ Xggfik\XloZfeZflijYXeZX`i\j Gi`eZ`g\[lgXik\eXi`XkXm\ZcXI^`fe1 CX^XiXek`\I^`feCXe^l\[fZ$Ifljj`ccfeFjf`ek\im`\ek jli[\jgifa\kj[\ZiXk`fefl[\i\gi`j\gij\ekXekle\ea\l Zfefd`hl\#efkXdd\ek\ek\id\[Ë\dgcf`j#\kgflic\jhl\cj c\jfi^Xe`jd\jÔeXeZ`\ije\g\lm\ekgXj`ek\im\e`ij\lcj Xli\^Xi[[\cË\ea\lÔeXeZ`\ifl[li`jhl\~gi\e[i\% 9yEy=@:@8@I<J C\jGD<&GD@\kc\jki jg\k`k\j\eki\gi`j\jKG< 1 hl`jfek`dgcXek\j\ei^`feCXe^l\[fZ$Ifljj`ccfe fljËp`ejkXcc\ek# hl`igfe[\ek~cX[Ôe`k`fe\lifg\ee\[\cXGD<# hl\cc\jhl\jf`\ekcX]fid\ali`[`hl\\kcËXZk`m`k~ cË\oZ\gk`fe[\jXZk`m`kj[Ë`ek\id[`Xk`feÔeXeZ` i\# [\gifdfk`fe\k[\cfZXk`fe`ddfY`c` i\\kc\j\eki\gi`j\j X^i`Zfc\jiXc`jXekleZ_`]]i\[ËX]]X`i\j`e]i`\li~.,''''`% GX^\(() :FE;@K@FEJ;Ë8KKI@9LK@FE CX^XiXek`\=I>e\g\lkgXjj\Zldlc\iXm\Zc\jXlki\jX`[\j jlic\dd\gif^iXdd\[Ë`em\jk`jj\d\ek% C\gXik\eXi`XkXm\ZcXI^`feg\id\k[ËXl^d\ek\icX^XiXek`\ aljhlË~.'% E8KLI<;<CË8@;< GikYXeZX`i\dfp\eflcfe^k\id\#Zi[`kYX`cdfY`c`\i \k`ddfY`c`\i#ZfekiXk[\[m\cfgg\d\ekkiXejd`jj`fe#ZXlk`fe YXeZX`i\c`\~leZi[`km\e[\li¿CX[li\[\jZfeZflij [f`kki\jlgi`\li\fl^Xc\~)Xej%C\dfekXekdXo`dXc [\jZfeZflij^XiXek`jXlk`ki\[l=I>gXi\eki\gi`j\fl^iflg\ [Ë\eki\gi`j\j\jkÔo~,'''''`% Gii\hl`j1 hlXc`ÔZXk`fe[lgifa\k~kiXm\ijcËfZkif` [ËleM@J8gXic\jfi^Xe`jd\jgi\jZi`gk\lij% :FEK8:K I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) FjfgX^\.. ¿& GX^\((* C\jÔeXeZ\d\ekj >XiXek`\j G8IK<E8I@8KIy>@FE&J@8>@&JF:8D8 $=FE;JIy>@FE8C;<>8I8EK@< <E=8M<LI;<JG<K@K<J<EKI<GI@J<J F9A<:K@= Gflifgk`d`j\icËXZZ jXloZi[`kjYXeZX`i\j[\j\eki\gi`j\j i^`feXc\j#cXI^`feCXe^l\[fZ$Ifljj`ccfe#cXJ@8>@ \kc\jJF:8D8fekj`^eleXZZfi[jgZ`Ôhl\[\gXik\eXi`Xk# m`XcXZiXk`fe[Ële]fe[ji^`feXc[\^XiXek`\=I> % Gi`eZ`g\[lgXik\eXi`XkXm\ZcXI^`fe1 CX^XiXek`\I^`feCXe^l\[fZ$Ifljj`ccfe&J`X^`&JfZXdX `ek\im`\ekjli[\jgifa\kj[\ZiXk`fefl[\i\gi`j\gij\ekXek le\ea\lZfefd`hl\#efkXdd\ek\ek\id\[Ë\dgcf`j#\kgfli c\jhl\cjc\jfi^Xe`jd\jÔeXeZ`\ije\g\lm\ekgXj`ek\im\e`i j\lcjXli\^Xi[[\cË\ea\lÔeXeZ`\ifl[li`jhl\~gi\e[i\% 9yEy=@:@8@I<J <eki\gi`j\j[\df`ej[\,'jXcXi`jZi\j[\gl`jdf`ej [\)Xej#hl\chl\jf`kjfejkXklkali`[`hl\#~cË\oZ\gk`fe [\jJ:@% <eZXj[\i\gi`j\#[ jj`^eXkli\[lgifkfZfc\\kaljhlË~ -df`jXgi jcËXZhl`j`k`fe\]]\Zk`m\%@ddXki`ZlcXk`fe XlIg\ikf`i\[\jDk`\ijflXlI:J% J` ^\jfZ`Xc\eCXe^l\[fZ$Ifljj`ccfefl\o\iXek jfeXZk`m`kgi`eZ`gXc\\eCXe^l\[fZ$Ifljj`ccfe% ;`i`^\Xek[Ë\eki\gi`j\gfliXggfik\e]fe[jgifgi\j% Gifa\ki\c\mXek[\jj\Zk\lij[\cËXik`jXeXk#[\cË`e[ljki`\# [\jj\im`Z\j~cË`e[ljki`\#[\jj\im`Z\jXlo\eki\gi`j\j# [\jj\im`Z\j[[`jXloK@:\k9`fk\Z_efcf^`\j#\kZfdd\iZ\j [\^ifj\k[\gifo`d`k%Gflic\Zfdd\iZ\[\gifo`d`k# kXYc`jj\d\ek[XejZfddle\[\df`ej[\)'''_XY`kXekj jË`ejZi`mXek[Xejle\[dXiZ_\[\k\ii`kf`i\kpg\½gXpj¾# ½gXiZeXkli\ci^`feXc¾fl½`ek\iZfddleXc`kj¾% GX^\((+ :FE;@K@FEJ;Ë8KKI@9LK@FE CXgi`fi`k\jk[fee\Xlo`em\jk`jj\d\ekjdXki`\cj% CX^XiXek`\=I>e\g\lkgXjj\Zldlc\iXm\Zc\jXlki\j X`[\jjlic\dd\gif^iXdd\[Ë`em\jk`jj\d\ek% C\gXik\eXi`XkXm\ZcXI^`feg\id\k[ËXl^d\ek\i cX^XiXek`\aljhlË~.'% E8KLI<;<CË8@;< GikYXeZX`i\dfp\eflcfe^k\id\#Zi[`kYX`c dfY`c`\i\k`ddfY`c`\i#Zi[`km\e[\li% ;\)''''`~('''''`\k[Ële\[li\ [\),~()'df`jdXo`dld% Gii\hl`j1 hlXc`ÔZXk`fe[lgifa\k~kiXm\ijcËfZkif` [ËleM@J8gXic\jfi^Xe`jd\jgi\jZi`gk\lij% :FEK8:K I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) JfZXdXgX^\0' J@8>@gX^\0) GX^\((, C\jÔeXeZ\d\ekj >XiXek`\j >8I8EK@<=I8E:<8:K@M<$8@I;@< F9A<:K@= CX^XiXek`\[c`mi\gXi=iXeZ\XZk`m\^XiXek`\Xgfli fYa\Zk`][\clkk\iZfeki\cË\oZclj`feYXeZX`i\%<cc\g\id\k1 Xlog\ijfee\jjXej\dgcf`fl\ej`klXk`fe[\giZXi`k Zfefd`hl\[\Zi\ic\ligifgi\\eki\gi`j\# XlojkilZkli\j[Ë`ej\ik`fegXicËXZk`m`kZfefd`hl\ J@8< #\kXlo\eki\gi`j\jjfc`[X`i\j#[ËXZZ[\iXlZi[`k YXeZX`i\% :_Xhl\[fjj`\ijfld`j~=iXeZ\XZk`m\fl~cËle[\j\j ]fe[jk\ii`kfi`Xlo]X`kcËfYa\k[Ële\\og\ik`j\Xggif]fe[`\% Kflkgfik\li[\gifa\kYeÔZ`\[\jZfej\`cj\k[\ cËX`[\[\jgZ`Xc`jk\jÔeXeZ`\ijflali`[`hl\j% 9yEy=@:@8@I<J C\j\eki\gi`j\jZi\jgXi[\jg\ijfee\jjXej \dgcf`fl\ej`klXk`fe[\giZXi`kZfefd`hl\ C\jjkilZkli\j[Ë`ej\ik`fegXicËXZk`m`kZfefd`hl\J@8< C\j\eki\gi`j\jjfc`[X`i\jXjjfZ`Xk`fejfljfZ`kj hl`Zi\ekflZfejfc`[\ek[\j\dgcf`j#efkXdd\ek gfli[\jg\ijfee\j\e[`]ÔZlck1\eki\gi`j\jX[Xgk\j# \eki\gi`j\j\e[`]ÔZlcki\gi`j\jgXic\lijjXcXi`j# \eki\gi`j\j[Ëlk`c`kjfZ`Xc\% E8KLI<;<CË8@;< GifZ[li\1 [gk[Ële\[\dXe[\Xlgi j[Ële]fe[j%<og\ik`j\ \kXZZfdgX^e\d\ekÔeXeZ`\igXic\]fe[jk\ii`kfi`Xc2 [Z`j`fe[lZfd`k[\j\e^X^\d\ekj[l]fe[jk\ii`kfi`Xc2 kXYc`jj\d\ek[\cXefk`ÔZXk`fe[\^XiXek`\gXicXjfZ`k [\ZXlk`fee\d\ek=iXeZ\XZk`m\^XiXek`\=8> \k[Xej Z\ikX`ejZXjgXi=iXeZ\XZk`m\2 jl`m`[\^\jk`feg\e[Xekc\jgi\d` i\jXee\j% GX^\((- ;li\[\jgikj Gikjdfp\ek\id\[\-df`jd`e`dld )Xejd`e`dld[XejZ\ikX`ejZXj DfekXek[\jgikj GXj[\dfekXekd`e`dXce`dXo`dXc DfekXekdXo`dXc[\cX^XiXek`\ -,gflic\j\eki\gi`j\j\eZiXk`fefl[\df`ej[\*Xej ,'[Xejc\jXlki\jZXj C\dfekXek^XiXek`\jkc`d`k~*',''` ;li\dXo`dXc\[\cX^XiXek`\ ,Xej :fkgflicË\eki\gi`j\ )[ldfekXek^XiXek`#gXpXYc\\ele\j\lc\ ]f`j~cXd`j\\egcXZ\[\cX^XiXek`\ <o\dgc\1gflilegik[\(,'''`^XiXek`~-,# c\Zfk[\cX^XiXek`\\jk[\(0,`% :FEK8:K 8`i[`\gX^\+) GX^\((. C\jÔeXeZ\d\ekj >XiXek`\j >8I8EK@<;L=@E8E:<D<EK ;<C8KI8EJD@JJ@FEG<K@K<J <KDFP<EE<J<EKI<GI@J<J$FJyF F9A<:K@= G\id\kki\cË`ejkXccXk`fe[\eflm\Xlo\eki\gi\e\lijgXi iXZ_Xk[lZXg`kXc[Ële\GD<fl[\]fe[j[\Zfdd\iZ\# \e]XZ`c`kXekcËXZZ jXlZi[`kYXeZX`i\% :if`jjXeZ\\ok\ie\% 8Zhli\li\kZ`Yc\[f`m\ekigfe[i\jgXid\ek ~cX[Ôe`k`fe\lifg\ee\[\cXGD<!% 9yEy=@:@8@I<J ?fc[`e^[\i\gi`j\#\eki\gi`j\`e[`m`[l\cc\\kjfZ`k# g\ijfee\g_pj`hl\iXc`jXekleXggfik\e]fe[jgifgi\j [XejcXjkilZkli\[\i\gi`j\% :FE;@K@FEJ;Ë8KKI@9LK@FE 8Z_Xkj[\gXikjjfZ`Xc\j1 kiXejd`jj`fe[\cXdXafi`k[lZXg`kXc# [Ële\d`efi`kXpXekmfZXk`fegXiZfekiXk ~Xkk\`e[i\le\dXafi`k# fl\oZ\gk`fee\cc\d\ek[Ële\d`efi`kgXic\jXZk`feeX`i\j dXafi`kX`i\jcfijhl\Z\cX\jk\jj\ek`\cXl[m\cfgg\d\ek [\cË\eki\gi`j\% ! ;Ôe`k`fe\lifg\ee\ [\ cX GD<1 \eki\gi`j\ [\ df`ej [\ ),' jXcX$ i`j [ZcXiXek jf`k le :8 Xeel\c `e]i`\li ~ ,'D`# jf`k le kfkXc [\Y`cXeeË\oZ[XekgXj +*D`% <cc\ [f`k ki\ `e[g\e[Xek\#ZË\jk$~$[`i\ e\ gXj ki\ [k\el\ ~ gclj[\),gXile\fl gclj`\lij \ek`kj hl` e\ jfekgXj[\jGD<% 8Z_Xk[\]fe[j[\Zfdd\iZ\1 i\gi`j\[\]fe[j[\Zfdd\iZ\~cË\oZclj`fe[\j[\lo` d\j `ejkXccXk`fejgXii\gi`j\[\]fe[j[\Zfdd\iZ\[\[kX`c EX]1>,)(~,). #[\cË_k\cc\i`\$i\jkXliXk`feEX]1?,,( ~,,, fl[\j\im`Z\jg\ijfee\cjEX]1F0*'9~0*'E % :Xlk`feYXeZX`i\d`j\\e^XiXek`\[ËleZi[`km\e[\li% E8KLI<;<CË8@;< CXhlfk`k^XiXek`\[\,'\jkgfik\~.'\eZXj[Ë`ek\i$ m\ek`feZfeaf`ek\[ËFjfJf]Xi`ji^`fej%>iZ\~cË`ek\im\ek`fe [ËFjfJf]Xi`ji^`fej#c\j[\lo` d\j`ejkXccXk`fejgXiiXZ_Xk [\]fe[j[\Zfdd\iZ\g\lm\ekki\^Xc\d\ek^XiXek`\j% :FEK8:K GX^\((/ FjfgX^\.. I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lgifa\k^cfYXc[\cË\eki\gi`j\ G8:K<8M8E:<I<D9FLIJ89C< Iy>@FEC8E>L<;F:$IFLJJ@CCFE F9A<:K@= :\kk\X`[\\jk[\jk`e\~ÔeXc`j\ic\gcXe[\ÔeXeZ\d\ek [Ële\\eki\gi`j\\eZiXk`fefl\ekiXejd`jj`fe%<cc\eËXgXj gflifYa\k[\gXcc`\icË`ejl]ÔjXeZ\[\j]fe[jgifgi\j[\j[`i`^\Xekj fl[\j\jlYjk`kl\iXloZfeZflijYXeZX`i\j% 9yEy=@:@8@I<J <eki\gi`j\ji\c\mXek[\jj\Zk\lijjl`mXekj1Xik`jXeXk#`e[ljki`\#j\im`Z\ ~cË`e[ljki`\#Zfdd\iZ\j[\^ifj\kZfdd\iZ\j[\gifo`d`k%C\j Zfdd\iZ\j[\gifo`d`k[\mifekki\j`klj[Xejle\Zfddle\[\ df`ej[\)'''_XY`kXekjjË`ejZi`mXek[Xejle\[dXiZ_\[\k\ii`kf`i\ [\kpg\½gXpj¾#½gXiZjeXkli\cji^`feXlo¾fl½`ek\iZfddleXc`kj¾ \k_fijZfddleXlkj[ËX^^cfdiXk`fe%C\j\eki\gi`j\j[\j\im`Z\j \o\iXekgi`fi`kX`i\d\ek[Xejc\j[fdX`e\j[\jk\Z_efcf^`\j[\ cË`e]fidXk`fe\k[\cXZfddle`ZXk`fe\k[\jY`fk\Z_efcf^`\jjfek ^Xc\d\ekc`^`Yc\j% E8KLI<;<CË8@;< 8mXeZ\i\dYflijXYc\~kXlo'#dfY`c`jXYc\Xgi jfYk\ek`fe [ËleM@J8[c`migXilefi^Xe`jd\gi\jZi`gk\li%C\dfekXek [\cËX`[\\jk[\(''''`~,''''`gflilekXlodXo`dld [Ë`ek\im\ek`fe[\,'#[XejcXc`d`k\[\j]fe[jgifgi\j% :FE;@K@FEJ;Ë8KKI@9LK@FE C\j[g\ej\jc`^`Yc\jjfekZfejk`kl\jgXi1 c\j[g\ej\j`ddXki`\cc\j_fijkXo\jc\Y\jf`e\e]fe[j [\iflc\d\ek[\cËXee\[\[dXiiX^\#c\j]iX`j\kjXcX`i\jZ_Xi^j [\i\Z_\iZ_\[m\cfgg\d\ek#cËXZhl`j`k`fe[\k\Z_efcf^`\#c\j cf^`Z`\cjjgZ`Ôhl\j[[`j~cËXZk`m`k[\cË\eki\gi`j\#c\j]iX`j\k jXcX`i\jZ_Xi^j[\cXeZ\d\ekZfdd\iZ`Xc¿ ~Zfe[`k`fe[\e\gXj Xmf`i[a~fYk\el[ËXlki\jX`[\jglYc`hl\jjliZ\j`em\jk`jj\d\ekj% :\j[g\ej\jg\lm\ekki\Zfdgck\j[XejZ\ikX`ejZXjgXi[\j `em\jk`jj\d\ekjdXki`\cj\k`ddfY`c`\ijXdeX^\d\ek#j\Zfe[ Ålmi\ #efkXdd\ekcfijhlË`cje\jfekgXjÔeXeZjgXi[\jdf[\j [\ÔeXeZ\d\ekZcXjj`hl\j#flcfijhl\c\]fe[ji^`feXc[\^XiXek`\ eË\jkgXjdfY`c`jXYc\2 \eZXj[\i\gi`j\#c\iXZ_Xk[l]fe[j[\Zfdd\iZ\\k[\jgXikj jfZ`Xc\j_fijZif`jjXeZ\\ok\ie\ jfek^Xc\d\ekc`^`Yc\j% :FEK8:K I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) GX^\((0 C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lgifa\k^cfYXc[\cË\eki\gi`j\ GIÜKÁC8:Iy8K@FE ;Ë<EKI<GI@J<$FJyF F9A<:K@= C\G:<XZZfdgX^e\fYc`^Xkf`i\d\ekleZfeZflijYXeZX`i\ ÔeXeZ\d\ek[ldXki`\c#m_`Zlc\¿ ~gclj[\)Xej \k[ËledfekXekZfdgi`j\eki\)\k*]f`jZ\cl`$Z`% 9yEy=@:@8@I<J G\ijfee\jg_pj`hl\jfldfiXc\j#\eg_Xj\[\ZiXk`fe fl[\i\gi`j\flGD<Zi\j[\gl`jdf`ej[\*Xej# hl\chl\jf`kc\j\Zk\li[ËXZk`m`k!\keËXpXekgXj\eZfi\ YeÔZ`[ËleÔeXeZ\d\ek^Xcfljlgi`\li~)Xej % C\j\eki\gi\e\lije\g\lm\ekki\[a~`ejkXccj [Xejle\Xlki\X]]X`i\flZfekic\ile\Xlki\jfZ`k% :FE;@K@FEJ;Ë8KKI@9LK@FE C\j[g\ej\jc`^`Yc\jjfekc\jjl`mXek\j1[g\ej\j [\gi\d` i\`ejkXccXk`fegXii\gi`j\[\]fe[j[\Zfdd\iZ\# Zfejk`klk`fe[l]fe[j[\iflc\d\ek#]iX`j[\[dXiiX^\¿ E8KLI<;<CË8@;< GikjXej^XiXek`\e`ZXlk`feg\ijfee\cc\ [\)'''~.'''`#[Ële\[li\[\,XejXm\Z -df`j[\[`]]i[ËXdfik`jj\d\ek[lZXg`kXc% :FEK8:K FjfgX^\.. ( JXl]X^i`Zlckli\#`ek\id[`Xk`feÔeXeZ` i\#gifdfk`fe flcfZXk`fe`ddfY`c` i\% GX^\()' C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lgifa\k^cfYXc[\cË\eki\gi`j\ I<E=FI:<IC<=FE;J ;<IFLC<D<EK;<J<EKI<GI@J<J :FFGyI8K@M<J$J:FGCI F9A<:K@=J :flmi`ic\9=I\kcË`ddXki`\chl\c\jkXYc`jj\d\ekj ÔeXeZ`\ij_j`k\ek~ÔeXeZ\i 8ZZfdgX^e\icXZfejk`klk`fe[\jZXg`kXlog\idXe\ekj ;dlck`gc`\ic\j]fe[j`em\jk`j\ejljZ`kXekle\]]\kc\m`\i jlicXYXj\[\cXZfeki`Ylk`feÔeXeZ` i\[\jXjjfZ`j# [\jÔeXeZ\d\ekj\oki`\lijefeX]]\Zkj~ [\j`em\jk`jj\d\ekjdXki`\cj 9yEy=@:@8@I<J Kflk\jjfZ`kjZffgiXk`m\j[\gif[lZk`feJZfg \kjfZ`kj ZffgiXk`m\j[Ë`ekikZfcc\Zk`]JZ`Z jflj]fid\[\J8ICflJ8% E8KLI<;<CË8@;< ;li\df[lcXYc\[\*~,Xej JXej^XiXek`\g\ijfee\cc\ I\dYflij\d\ekki`d\jki`\cfld\ejl\c jlile\[li\[\*fl,Xej M\ij\d\ek[ËleZfdgcd\ekgXik`Z`gXk`]#]feZk`fe [\jg\i]fidXeZ\j[\cË\eki\gi`j\~cËZ_XeZ\ :fk =`o\1K99Æ)gflic\jZffgiXk`m\j\o`jkXek\j#K99 gflikflk\jc\jZiXk`fej[\eflm\cc\jZffgiXk`m\j% K991KXlo[\YXj\YXeZX`i\ MXi`XYc\1Zfdgcd\ekgXik`Z`gXk`]Zfii\jgfe[Xek~, [lijlckXkZfliXek"[fkXk`fejXloXdfik`jj\d\ekj Zldlc\jjli,Xej% C\kflkgcX]fee~K99gflic\jJZfg\o`jkXek\j# ~K99"( gflic\jZiXk`fej% :FEK8:K JZfgCIgX^\// GX^\()( C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lZfej\`c 8@;<8L:FEJ<@CGFLI ;yM<CFGG<IC8:FDGyK@K@M@Ky ;<CË<EKI<GI@J<I<GI@J<$ Iy>@FEC8E>L<;F:$IFLJJ@CCFE F9A<:K@= =`eXeZ\ic\i\Zflij~[\jZfej\`cjjgZ`Xc`jjjlic\mfc\k dXeX^i`Xc#Zfefd`hl\#ÔeXeZ`\i\kali`[`hl\gfliX`[\i c\i\gi\e\li~[m\cfgg\icXZfdgk`k`m`k[\cË\eki\gi`j\% 9yEy=@:@8@I<J <eki\gi`j\j\ej`klXk`feÔeXeZ` i\jX`e\\kXpXek c\lij` ^\jfZ`Xc\eCXe^l\[fZ$Ifljj`ccfeflXd`e`dX# le\XZk`m`kgi`eZ`gXc\\ei^`fe J\Zk\lijc`^`Yc\j1Xik`jXeXk#`e[ljki`\#j\im`Z\~cË`e[ljki`\# Zfdd\iZ\j[\^ifj\kZfdd\iZ\j[\gifo`d`k% C\jZfdd\iZ\j[\gifo`d`k[\mifekki\j`klj[Xej le\Zfddle\[\df`ej[\)'''_XY`kXekjjË`ejZi`mXek [Xejle\[dXiZ_\[\k\ii`kf`i\[\kpg\½gXpj¾# ½gXiZjeXkli\cji^`feXlo¾fl½`ek\iZfddleXc`kj¾ \k_fij:fddleXlkj[ËX^^cfdiXk`fe%C\j\eki\gi`j\j [\j\im`Z\j\o\iXekgi`fi`kX`i\d\ek[Xejc\j[fdX`e\j [\jk\Z_efcf^`\j[\cË`e]fidXk`fe\k[\cXZfddle`ZXk`fe \k[\jY`fk\Z_efcf^`\jjfek^Xc\d\ekc`^`Yc\j :FE;@K@FEJ;Ë8KKI@9LK@FE C\jkl[\jc`\jXl[m\cfgg\d\ek[\cË\eki\gi`j\ \e[\_fij[\jgi\jkXk`feji\c\mXek[\cX^\jk`feZfliXek\ [\cË\eki\gi`j\jfekc`^`Yc\j% E8KLI<;<CË8@;< GflicXiXc`jXk`fe[Ële[`X^efjk`Z[\,aflijXldXo`dld # cXI^`feÔeXeZ\iX/'dXo`dld[\cXgi\jkXk`fe%CËX`[\\jk gcX]fee\~*/''`gXigifa\k%Gflic\j[`X^efjk`Zj[\gclj [\,aflij[\Zfej\`c#c\kXlo\jk[\,'XldXo`dld gcX]fee~(,'''`gXigifa\k% :\kk\X`[\\jkdfY`c`jXYc\jlile\gi`f[\[\[\lo Xej~Zfdgk\i[\cXj`^eXkli\[\cËXZk\[\Z\jj`fe% :FEK8:K GX^\()) I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lZfej\`c 8@;<ÁCËyM8CL8K@FE ;<CË<EKI<GI@J<Á:y;<I$ Iy>@FEC8E>L<;F:$IFLJJ@CCFE F9A<:K@= =`eXeZ\icËmXclXk`fe[\cË\eki\gi`j\~Z[\iXjg\Zkj Zfefd`hl\j#ÔeXeZ`\ij#_ldX`ej XÔe[\[fee\i c\jd\`cc\li\jZ_XeZ\j[\iljj`k\Xlgifa\k% 9yEy=@:@8@I<J <eki\gi`j\j\ej`klXk`feÔeXeZ` i\jX`e\\kXpXek c\lij` ^\jfZ`Xc\eCXe^l\[fZ$Ifljj`ccfeflXd`e`dX# le\XZk`m`kgi`eZ`gXc\\ei^`fe J\Zk\lijc`^`Yc\j1Xik`jXeXk#`e[ljki`\#j\im`Z\ ~cË`e[ljki`\#Zfdd\iZ\j[\^ifj\kZfdd\iZ\j [\gifo`d`k%C\jZfdd\iZ\j[\gifo`d`k[\mifekki\ j`klj[Xejle\Zfddle\[\df`ej[\)'''_XY`kXekj jË`ejZi`mXek[Xejle\[dXiZ_\[\k\ii`kf`i\[\kpg\ ½gXpj¾#½gXiZjeXkli\cji^`feXlo¾fl ½`ek\iZfddleXc`kj¾\k_fij:fddleXlkj [ËX^^cfdiXk`fe%C\j\eki\gi`j\j[\j\im`Z\j\o\iXek gi`fi`kX`i\d\ek[Xejc\j[fdX`e\j[\jk\Z_efcf^`\j [\cË`e]fidXk`fe\k[\cXZfddle`ZXk`fe \k[\jY`fk\Z_efcf^`\jjfek^Xc\d\ekc`^`Yc\j :FE;@K@FEJ;Ë8KKI@9LK@FE Jfekc`^`Yc\jc\jd`jj`fej[ËXl[`k[\cË\eki\gi`j\fYa\k[\cX kiXejd`jj`fekXekjlic\gcXeZfefd`hl\#_ldX`e^\jk`fe gim`j`fee\cc\[\j\dgcf`j\k[\jZfdgk\eZ\j#mXclXk`fe [\cXi\ekXY`c`k[\cË\eki\gi`j\\k[\cËflk`c[\gif[lZk`fe hl\ ÔeXeZ`\i%:\jd`jj`fejjfekiXc`j\jgXileZXY`e\kjgZ`Xc`j [Xejc\Ylk[\[k\id`e\icXmXc\li[\Z\jj`fe[\cË\eki\gi`j\% E8KLI<;<CË8@;< C\dfekXek[\cËX`[\\jk[\/'dXo`dld[\cXgi\jkXk`fe gcX]fee~*/''`gXigifa\k%:\dfekXekgfliiXki\ [gcX]feegflic\j\eki\gi`j\jgij\ekXekle`ekik Zfefd`hl\i^`feXcgXik`Zlc`\idXiZ_j#`em\jk`jj\d\ek# gfk\ek`\c[\[m\cfgg\d\ek#\dgcf`j#`eefmXk`fe¿ % :FEK8:K I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) GX^\()* C\jÔeXeZ\d\ekj =`eXeZ\d\ek[lZfej\`c GIÜKJ8EJ>8I8EK@<<KEFE 8==<:KyGFLIC<JGIFA<KJ GFIK<LIJ;Ë<DGCF@J$JF;@< F9A<:K@= 8ggfik\iXlogfik\lij[\gifa\kj[\ZiXk`fefl[\i\gi`j\ [ËXZk`m`k#c\jflk`\e[ËleZfejlckXekjgZ`Xc`j[XejcËkl[\ \kc\dfekX^\[\[fjj`\ij#gXi[\jgikjefeX]]\Zkj#hl` g\lm\ekXljj`Zflmi`ic\jY\jf`ej[\kijfi\i`\c`jXlZpZc\ [Ë\ogcf`kXk`fe#jXej^XiXek`\\kjXej]iX`j%C\dfekX^\[lgcXe [ËX]]X`i\jjË\]]\Zkl\~kiXm\ij[\j\eki\k`\ejXm\Zc\gfik\li [\gifa\kj%;\jcd\ekjZfdgcd\ekX`i\jg\lm\ekki\ Xggfikj^iXkl`k\d\ekgXiJf[`\kl[\[\dXiZ_¿ % 9yEy=@:@8@I<J Kflk\jXZk`m`kjZiXki`Z\j[Ë\dgcf`jjXl]1g\k`kZfdd\iZ\# 9KG#X^i`Zlckli\gli\#e^fZ\gli#kiXejgfik%<ekflkkXk [\ZXlj\~mf`iXlZXjgXiZXj%CXgi`fi`k\jk[fee\ Xlo\eki\gi`j\j[\jj\Zk\lij[\cË`e[ljki`\fl[\jj\im`Z\j ~cË`e[ljki`\%C\j]fid\jali`[`hl\jc`^`Yc\j1kflk\jjXl]c\jJ:@ \kc\j\eki\gi`j\j`e[`m`[l\cc\jjXl]j`Z\cc\$Z`j\kiXej]fid\ \ejfZ`k %CËX`[\\jkgi`fi`kX`i\d\ekXZZfi[\XloGD<$GD@% Kflk\]f`j`ceË\jkgXj\oZcl[ËX`[\i[\j^iXe[j^iflg\jflc\lij Ôc`Xc\jdX`jcË`ek\im\ek`fe[f`k^Xi[\ileZXiXZk i\`eZ`kXk`] ]fik% C\gi`d ki\c`^`Yc\1:Xekfej[\Gfek$Jk$<jgi`k# 9X^efcj$jli$: q\#CljjXe#Ifhl\dXli\#Lq j#I\dflc`ej# M`cc\e\lm\$c\q$8m`^efe#8iXdfe#9\XlZX`i\#9fcc e\# 9[Xii`[\j#FiXe^\#8m`^efe% :FE;@K@FEJ;Ë8KKI@9LK@FE Jfekc`^`Yc\jkfljkpg\j[\gifa\kj1ZiXk`fe#i\gi`j\# [m\cfgg\d\ek#`ejkXccXk`fe[Ëfi`^`e\\of^ e\\k\e[f^ e\% GX^\()+ E8KLI<;<CË8@;< C\dfekXek[lgik\jk]feZk`fe[\j\dgcf`j\e:;@ gif^iXddj~*Xej\k[lgcXe[\ÔeXeZ\d\ekcXYfi% ;li\ [\+~,Xej^eiXc\d\ek KXlo)''. *#,Ôo\gflile[m\cfgg\d\ek# +#),Ôo\gflile\ZiXk`feflle\i\gi`j\% C\Z`iZl`k[\[Z`j`fe\jkki jZflikJf[`\$L^`e\ % C\[fjj`\i[\gij\ekXk`fe\jkleYlj`e\jjgcXegif]\jj`fee\c \kg\ijfeeXc`jXm\Z1 gij\ekXk`fe[\cË\eki\gi`j\\k[lgifa\k# mfclk`fejlic\jkif`j[\ie` i\jXee\j# Y`cXe\kZfdgk\[Ë\ogcf`kXk`fegim`j`fee\c jlic\jkif`jgifZ_X`e\jXee\j% :FEK8:K >Xi[i_f[Xe`\e[m\cfgg\d\ek&Jf[`\gX^\.( GX^\(), C\jÔeXeZ\d\ekj =`eXeZ\d\ek[\ji\Zilk\d\ekj 8@;<8L=@E8E:<D<EK ;LJ8C8@I<;LI<GI<E<LI$ Iy>@FEC8E>L<;F:$IFLJJ@CCFE F9A<:K@= =`eXeZ\ile\gXik`\[ljXcX`i\[l]lklii\gi\e\li%@cjËX^`k[\mXc`[\ijX mfcfek\eki\gi\e\li`Xc\\kj\jZfdgk\eZ\jXmXekcXZ\jj`fe[Ôe`k`m\ \kZfeki`Yl\iX`ej`~legXjjX^\[\i\cX`j[Xejc\jd\`cc\li\jZfe[`k`fej% 9yEy=@:@8@I<J <eki\gi`j\j\ej`klXk`feÔeXeZ` i\jX`e\\kXpXekc\lij` ^\ jfZ`Xc\eCXe^l\[fZ$Ifljj`ccfeflXd`e`dX#le\XZk`m`k gi`eZ`gXc\\ei^`fe# j\Zk\lijc`^`Yc\j1Xik`jXeXk#`e[ljki`\#j\im`Z\~cË`e[ljki`\#Zfdd\iZ\j [\^ifj\kZfdd\iZ\j[\gifo`d`k%C\jZfdd\iZ\j[\gifo`d`k [\mifekki\j`klj[Xejle\Zfddle\[\df`ej[\)'''_XY`kXekj jË`ejZi`mXek[Xejle\[dXiZ_\[\k\ii`kf`i\[\kpg\½gXpj¾#½gXiZj eXkli\cji^`feXlo¾fl½`ek\iZfddleXc`kj¾\k_fij:fddleXlkj [ËX^^cfdiXk`fe%C\j\eki\gi`j\j[\j\im`Z\j\o\iXekgi`fi`kX`i\d\ek [Xejc\j[fdX`e\j[\jk\Z_efcf^`\j[\cË`e]fidXk`fe\k[\cXZfddl$ e`ZXk`fe\k[\jY`fk\Z_efcf^`\jjfek^Xc\d\ekc`^`Yc\j% :\kk\X`[\\jkdfY`c`jXYc\jlile\gi`f[\[\[\loXej~Zfdgk\i [\cXj`^eXkli\[\cËXZk\[\Z\jj`fe% CË\dYXlZ_\flcXgifdfk`fe[ljXcXi`#]lklii\gi\e\li#[f`kj\]X`i\gXi leZfekiXk~[li\`e[k\id`e\%CXgi`f[\[Ë\jjX`jlic\ZfekiXk[\kiXmX`c XZZ\gke\g\lk\eXlZleZXj\oZ[\i-df`j%@c[f`kki\k`klcX`i\Xld`e`$ dld[Ële9XZ^eiXcfl[Ële[`gcd\gif]\jj`fee\cflYeÔZ`\i[Ële\ \ogi`\eZ\gif]\jj`fee\cc\ZfeÔid\[Xejc\j\Zk\li[ËXZk`m`k[\cË\eki\$ gi`j\~Z[\i%CËX`[\e\jËXggc`hl\gXjXlod\dYi\j[\cX]Xd`cc\[l[`i`^\Xek% :FE;@K@FEJ;Ë8KKI@9LK@FE CËXjj`\kk\c`^`Yc\\jkZfdgfj\[\cXidleiXk`feYilk\Xeel\cc\ \k[\jZ_Xi^\jgXkifeXc\j`ejZi`k\jjlic\Ylcc\k`e[\jXcX`i\% C\jXcX`i\YilkjË\ek\e[_fijgi`d\#[flYc\df`j\kXlki\j Zfdgcd\ekj[\jXcX`i\fl]iX`j[\[gcXZ\d\ek%CXgi`j\ \eZ_Xi^\[\,'[ljXcX`i\\jkc`d`k\~le\Xee\% E8KLI<;<CË8@;< ,'dXo`dld[\j[g\ej\jc`^`Yc\jgcX]fee\~),'''`% :FEK8:K GX^\()- I^`feCXe^l\[fZ$Ifljj`ccfegX^\/) C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj 8@;<;<CË8><=@G? F9A<:K@= HlË`cjËX^`jj\[\ZiXk`fefl[\i\gi`j\[Ë\eki\gi`j\#cË8^\Ôg_ Xggfik\[\jX`[\j\k[\jXggl`jXlo[\dXe[\lij_Xe[`ZXgj hl`Zi\ekc\ligifgi\\dgcf`% 9yEy=@:@8@I<J :\kk\X`[\jËX[i\jj\Xlog\ijfee\j_Xe[`ZXg\j\ei\Z_\iZ_\ [Ë\dgcf`\k`ejZi`k\j~cÊ8EG<%C\ZiXk\li_Xe[`ZXg[f`k i\dgc`i[\loZfe[`k`fej1 ki\[`i`^\Xek[\cXjfZ`k1^iXek[\jfZ`k\e ZfddXe[`k\j`dgc\#[\jfZ`k\egXik`Z`gXk`fe#[\J8IC# <LIC¿ [k\e`iXldf`ej,'[lZXg`kXc#j\lcfl\e]Xd`cc\ Zfeaf`ekj#XjZ\e[Xekj\k[\jZ\e[Xekj[\cË`eki\jj # Xm\Zgclj[\*'~k`ki\g\ijfee\c% :FE;@K@FEJ;Ë8KKI@9LK@FE Jfekc`^`Yc\jc\j`em\jk`jj\d\ekjeZ\jjX`i\j \kc`jXl[dXiiX^\[\cË\eki\gi`j\1 `ddfY`c`jXk`fej`eZfigfi\cc\j ]iX`j[ËkXYc`jj\d\ek#]fe[j[\Zfdd\iZ\¿ # `ddfY`c`jXk`fejZfigfi\cc\j XdeX^\d\ekj#XZhl`j`k`fedXki`\c\kdfY`c`\i¿ # `ddfY`c`jXk`fejÔeXeZ` i\jY\jf`e\e]fe[j [\iflc\d\ek¿ #~cË\oZclj`fe[\Y`\ej]feZ`\ij% E8KLI<;<CË8@;< Le\jlYm\ek`fegflmXekXcc\ialjhlË~('-.,`#\eZfdgcd\ek [ËleXggfik\eeldiX`i\d`e`dld[\(,),`\k[\jXlki\j X`[\jdfY`c`jXYc\j[`jgfj`k`]<[\e#gikYXeZX`i\¿ % CË8^\Ôg_`ek\im\eXek\eZfdgcd\ek[\[`jgfj`k`]j [\[if`kZfddle#cXdfY`c`jXk`fe[\ZfÔeXeZ\d\ekj jlggcd\ekX`i\j~cËXggfik[\(,),`\jk`e[`jg\ejXYc\% :FEK8:K 8^\Ôg_CXe^l\[fZ$Ifljj`ccfegX^\*0 GX^\(). C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj CË8@;<JFLJ=FID<;<:8G@K8C$ 8JJ<;@: F9A<:K@= CËX`[\Zfii\jgfe[~cXdf`k`[\jXccfZXk`fejhl`i\jk\ek ~g\iZ\mf`iXlaflifc\gfik\li[\gifa\k[dXii\ jfeXZk`m`k% 9yEy=@:@8@I<J Üki\\eXkk\ek\fl\eZflij[Ë`e[\de`jXk`feXlk`ki\ [\cËXccfZXk`fe[\i\kfli~cË\dgcf`Xldfd\ek[\cXi\gi`j\ [\cË\eki\gi`j\ =X`i\gXik[lgifa\k[\i\gi`j\[Ë\eki\gi`j\~cË8EG<# 8mf`ifYk\elcXmXc`[Xk`fe[lgifa\kgXicËfYk\ek`fe [\cË8ZZi\Xlgi j[\cX;;K<=G E8KLI<;<CË8@;< Legi\d`\im\ij\d\ekZfii\jgfe[Xek~cXdf`k` [\cËX`[\`ek\im`\ekXldfd\ekfc\gfik\li[\ gifa\k[Ylk\jfeXZk`m`k[XejcXd\jli\f`cZ\jj\ [Ëki\`ejZi`kZfdd\[\dXe[\li[Ë\dgcf`%C\jfc[\ j\iXm\ij-df`jXgi jc\[Ylk[\cËXZk`m`k% :FEK8:K 8jj\[`ZCXe^l\[fZ$Ifljj`ccfegX^\+. GX^\()/ C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj D8@EK@<EG8IK@<C;<J 8CCF:8K@FEJG<E;8EKC8G?8J< ;<;yD8II8><;<CË<EKI<GI@J<$ 8JJ<;@: F9A<:K@= :_Xhl\df`j#cË8jj\[`ZZXcZlc\leZ\ikX`eefdYi\[\aflij# efe`e[\de`jXYc\j#\e]feZk`fe[\j^X`ej[lgfik\li[\gifa\k% :\jaflijjfekfYk\elj\e[`m`jXekc\j^X`ejgXic\jXcX`i\JAI jlic\hl\cfekkZXcZlc\jc\jXccfZXk`fej%:\efdYi\[\aflij [[l`kj\jkd`efi[\)'gflic\jg\ijfee\j[\,'Xej \kgclj% :\kXZZfdgX^e\d\ek\jkgfjj`Yc\kXekhl\c\gfik\liX[if`k ~cËXccfZXk`fe[Ë8`[\Xli\kfli~cË\dgcf`8I< \k[XejcXc`d`k\ [\(,df`j% 9yEy=@:@8@I<J Üki\[\dXe[\li[Ë\dgcf`\eXkk\ek\fl\eZflij [Ë`e[\de`jXk`feXlk`ki\[\cË8I< I\gi\e[i\flZi\ile\\eki\gi`j\ E\gXjYeÔZ`\iflXmf`i[\dXe[~cË8jj\[`ZcËX`[\ jflj]fid\[\ZXg`kXc C\jeflm\cc\jidleiXk`fejc`\j~cXi\gi`j\[Ë\eki\gi`j\ [lgfik\li[\gifa\ke\[f`m\ekgXj [gXjj\i.'[ljXcX`i\aflieXc`\i[\i]i\eZ\JAI jlic\hl\cfekkZXcZlc\jc\jXccfZXk`fej8I< E8KLI<;<CË8@;< GfliZfeeXki\cXgifZ[li\#gi\e[i\ZfekXZkXm\ZcË8jj\[`Z [\i]i\eZ\% :FEK8:K 8jj\[`ZCXe^l\[fZ$Ifljj`ccfegX^\+. GX^\()0 C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj 8@;<8LO:?åD<LIJ:Iy8K<LIJ I<GI<E<LIJ;Ë<EKI<GI@J< 8::I< $;;K<=G F9A<:K@= CËX`[\Xlo[\dXe[\lij[Ë\dgcf`ZiXekfli\gi\eXekle\\eki\gi`j\ 8ZZi\ Zfej`jk\\ele\\ofeiXk`fe[\Z_Xi^\jjfZ`Xc\jg\e[Xek leXe%C\[fjj`\i[\[\dXe[\[ËX`[\[f`kki\[gfj `dgiXk`m\d\ekXmXekcXZiXk`feflcXi\gi`j\[\cË\eki\gi`j\% 9yEy=@:@8@I<J ;\dXe[\li[Ë\dgcf``e[\de`jXccfZXk`feXjjliXeZ\Z_dX^\ # ;\dXe[\li[Ë\dgcf`efe`e[\de`j#`ejZi`k~cË8EG<# aljk`ÔXek[\-df`j[Ë`ejZi`gk`feXlZflij[\j(/[\ie`\ijdf`j 9eÔZ`X`i\j[lID@fljfeZfeaf`ek\k&flZfeZlY`e # [\cËXccfZXk`fejgZ`Ôhl\[\jfc`[Xi`k#[\cËXccfZXk`fe [\gXi\ek`jfc A\le\[\df`ej[\)-Xej A\le\^[\df`ej[\*'XejkiXmX`cc\li_Xe[`ZXg G\ijfee\jXcXi`\flc`Z\eZ`\[Ële\\eki\gi`j\ \ei\[i\jj\d\ekflc`hl`[Xk`feal[`Z`X`i\hl`i\gi\e[ kflkflgXik`\[\jfe\eki\gi`j\ G\ijfee\XpXekZfeZclleZfekiXk:8G< G\ijfee\g_pj`hl\ZiXekle\\eki\gi`j\`dgcXek\ Xlj\`e[Ële\qfe\liYX`e\j\ej`Yc\ 9eÔZ`X`i\[lZfdgcd\ek[\c`Yi\Z_f`o[ËXZk`m`k fljfikXek[lYeÔZ\[l[`kZfdgcd\ek E8KLI<;<CË8@;< <ofeiXk`fe[\Zfk`jXk`fejjfZ`Xc\j ()df`jgflicË\ej\dYc\[lglYc`Zc`^`Yc\ *-df`jgflic\jZiXk`fejflc\ji\gi`j\j[\d`Zif$\eki\gi`j\ DX`ek`\e[\jd`e`dXjfZ`Xlo ()df`j1XccfZXk`fejgZ`Ôhl\[\jfc`[Xi`k -df`j1ID@#XccfZXk`fegXi\ek`jfc#XccfZXk`fe[Ë`ej\ik`fe :FEK8:K ;;K<=GCXe^l\[fZ$Ifljj`ccfegX^\-GX^\(*' C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj <E:FLI8><D<EK8L ;yM<CFGG<D<EK;Ë<EKI<GI@J<J EFLM<CC<J<;<E $;;K<=G F9A<:K@=J =XZ`c`k\icË\dgilekYXeZX`i\ 8`[\i~cXZiXk`fe$i\gi`j\[Ë\eki\gi`j\ 9yEy=@:@8@I<J 9eÔZ`X`i\[lID@fljfeZfeaf`ek\k&flZfeZlY`e # [\cËXccfZXk`fejgZ`Ôhl\[\jfc`[Xi`k#[\cËXccfZXk`fe [\gXi\ek`jfc A\le\[\df`ej[\)-Xej A\le\^[\df`ej[\*'XejkiXmX`cc\li_Xe[`ZXg G\ijfee\jXcXi`\flc`Z\eZ`\[Ële\\eki\gi`j\ \ei\[i\jj\d\ekflc`hl`[Xk`feal[`Z`X`i\hl`i\gi\e[ kflkflgXik`\[\jfe\eki\gi`j\ G\ijfee\XpXekZfeZclleZfekiXk:8G< ;\dXe[\li[Ë\dgcf`[\gclj[\,'Xej E8KLI<;<CË8@;< 8mXeZ\i\dYflijXYc\#gikjXej`ekik#[ËledfekXek [\-'0/`dXo`dld#i\dYflijXYc\\e,Xej#\k[\mXek ki\lk`c`j\#jf`kgflic\ZXg`kXc[\cXjfZ`kZi\# jf`kgflic\]feZk`fee\d\ek <cc\\jkjlYfi[fee\~cËfYk\ek`fe[ËleÔeXeZ\d\ek Zfdgcd\ekX`i\YXeZX`i\flZi[`kjfc`[X`i\ <ofeiXk`fe[\jZfk`jXk`fejjfZ`Xc\j ()df`jgflicË\ej\dYc\[lglYc`Zc`^`Yc\ *-df`jgflic\jZiXk`fejflc\ji\gi`j\j [\d`Zif$\eki\gi`j\ DX`ek`\e[\jd`e`dXjfZ`Xlo ()df`j1XccfZXk`fejgZ`Ôhl\[\jfc`[Xi`k -df`j1ID@#XccfZXk`fegXi\ek`jfc#XccfZXk`fe[Ë`ej\ik`fe :FEK8:K ;;K<=GCXe^l\[fZ$Ifljj`ccfegX^\-GX^\(*( C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj C<:?ßHL<:FEJ<@C$;;K<=G F9A<:K@= 8ggfik\ikfljZfej\`cjjgZ`Xc`jj[\eXkli\ÔeXeZ` i\# k\Z_e`hl\#ali`[`hl\#ZfdgkXYc\\kZfdd\iZ`Xc\#jljZ\gk`Yc\j [Ë`ek\im\e`i1 \eXdfek[\cXiXc`jXk`fe[lgifa\k# \ejl`m`Xgi jZiXk`fefli\gi`j\% :\jZfej\`cjjfek[`jg\ejjgXi[\jfi^Xe`jd\jjgZ`Xc`jj \edXk` i\[\gigXiXk`fe#[dXiiX^\#gifYc d\jk\Z_e`hl\j ZfeZ\ieXekcXZiXk`feflcXi\gi`j\[Ë\eki\gi`j\c`jk\j [`jgfe`Yc\j[Xejc\j;;K<=G % 9yEy=@:@8@I<J Kflk\g\ijfee\c`^`Yc\~cË8ZZi\fl~cË<[\ehl`Xlegifa\k ji`\lo[\ZiXk`fefl[\i\gi`j\[Ë\eki\gi`j\% E8KLI<;<CË8@;< C\j;;K<=G`ejkil`j\ek\k[`jki`Yl\ekc\jZ_hl`\ijZfej\`cj% Kif`jZ_hl`\ijZfej\`cjefd`eXk`]jZfdgfikXekZ_XZlej`oZ_ hl\j [ËledfekXekle`kX`i\[\+,#.+`gi`j\eZ_Xi^\gXicËykXk% :_Xhl\Z_ hl\Zfii\jgfe[~(_\li\[\Zfej\`c#ZfkÔo~-'#0/`% C\ZiXk\lim\ij\[`i\Zk\d\ek~cËfi^Xe`jd\le\gXik`Z`gXk`fe [\(,#)+`gXi_\li\% <eXdfek ;\loZ_hl`\ijdXo`dXg\lm\ekki\lk`c`jjXmXekcXZiXk`fe flcXi\gi`j\%C\(\iZ_hl`\i\jk^iXkl`kgflic\jYeÔZ`X`i\j [lID@\k[\cËXccfZXk`fe[\jfc`[Xi`kjgZ`Ôhl\% <ejl`m` GfliYeÔZ`\i[l*\Z_hl`\iZfej\`c#`c\jkeZ\jjX`i\ [ËfYk\e`icË8ZZi\flcË<[\e\kXmf`i[dXiijfeXZk`m`k% ;li\[Ëlk`c`jXk`fe ;Xejc\j()df`jhl`jl`m\ekcX[Xk\[\[c`miXeZ\[lZ_hl`\i# [\gl`jc\;Zi\k[l),j\gk\dYi\)'',#c\jZiXk\lijfl c\ji\gi\e\lijfekcXgfjj`Y`c`k#Xgi jZiXk`fefli\gi`j\ \]]\Zk`m\[\cË\eki\gi`j\#[\[\dXe[\ileZ_hl`\iZfej\`c [Xejle[cX`dXo`dXc[\*Xej% :FEK8:K GX^\(*) ;;K<=GCXe^l\[fZ$Ifljj`ccfegX^\-- C\jÔeXeZ\d\ekj 8lki\jÔeXeZ\d\ekj 9FLIJ<;<D8KyI@<C 8LO<EKI<GI@J<J9D< $8@I;@< F9A<:K@= CË8`i[`\\jkle\XjjfZ`Xk`fehl`X`[\[\jg\ijfee\j\oZcl\j [ldXiZ_[lkiXmX`c\k[ljpjk d\YXeZX`i\ZcXjj`hl\~Zi\i fli\gi\e[i\le\\eki\gi`j\\kZi\ic\ligifgi\\dgcf`% 9yEy=@:@8@I<J 9eÔZ`X`i\j[lID@ ;\dXe[\lij[Ë\dgcf` Kflk\g\ijfee\hl`jfl_X`k\k\jk\ijfeXZk`m`k \kc`d`k\ijfe\e[\kk\d\ekXl[dXiiX^\ E8KLI<;<CË8@;< Gik[\m_`Zlc\\k[\dXki`\c[\m\ek\jlic\jdXiZ_j \eml\[\cXZiXk`fefl[\cXi\gi`j\[Ële\\eki\gi`j\% G\lkki\ZfdgckgXilegikXjjfZ`~cX9D<[ËledfekXek dXo`dld[\(,''`% :fk Ák`ki\[Ë\o\dgc\#gflilem_`Zlc\[\kpg\I\eXlckKiX]ÔZ# c\Zfkj\iX[\'#'/`&bd\k*.`&df`j[ËXjjliXeZ\% CXcfZXk`fe[Ëleb`kdXiZ_Zfk\iX\eki\)'\k).`&df`j% ;li\ -df`jdXo`dldefei\eflm\cXYc\ :FEK8:K 8`i[`\gX^\+) GX^\(** >cfjjX`i\ 8::I< 8`[\Xlo[\dXe[\lij[Ë\dgcf`ZiXek fli\gi\eXekle\\eki\gi`j\ 8<K< 8jjfZ`Xk`fe\lifg\ee\gflic\kiXmX`c \kc\jZ_Xe^\j 8><=@G? 8 jjfZ`Xk`fe[\^\jk`fe[l]fe[j gflicË`ej\ik`fegif]\jj`fee\cc\ [\jg\ijfee\j_Xe[`ZXg\j 8@I;@< 8jjfZ`Xk`fe`ek\i[gXik\d\ekXc\ gflic\[m\cfgg\d\ek[\cË`ej\ik`fe gXicËZfefd`\ 8EG< 8 ^\eZ\eXk`feXc\gflicË\dgcf` 8G<: 8jjfZ`Xk`fegflicË\dgcf`[\jZX[i\j 8I< 8ccfZXk`fe[ËX`[\Xli\kfli~cË\dgcf` 8I@8 8jjfZ`Xk`fei^`feXc\[\j`e[ljki`\j Xc`d\ekX`i\j 8JJ<;@: 8jjfZ`Xk`fegflicË\dgcf`[XejcË`e[ljki`\ \kc\Zfdd\iZ\ GX^\(*+ 8KI@8 8ggl`~cXkiXejd`jj`fe\k~cXi\gi`j\ [Ë`e[ljki`\jX^ifXc`d\ekX`i\j 9=I 9\jf`e\e]fe[j[\iflc\d\ek ::@ :_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\ :;: :X`jj\[\j[gkj\kZfej`^eXk`fej :=< :\eki\[\]fidXc`kj[\j\eki\gi`j\j :>GD< fe][iXk`fe^eiXc\[\jg\k`k\j : \kdfp\ee\j\eki\gi`j\j :D8 :_XdYi\j[\dk`\ij\k[\cËXik`jXeXk :CI : _XdYi\gif]\jj`fee\cc\[\jZfej\`cj [Ë\eki\gi`j\j\eCXe^l\[fZ$Ifljj`ccfe :E<@ :fd`keXk`feXc[\j\eki\gi`j\j[Ë`ej\ik`fe :I8 :[Xekj\ki\gi\e\lij[ËX]]X`i\j :I<= :\eki\[\i\jjfliZ\jgfli[m\cfgg\i cË\eki\gi\e\li`XkXl]d`e`e :I<J :_XdYi\i^`feXc\[\cËZfefd`\jfZ`Xc\ ;;K<=G ; `i\Zk`fe[gXik\d\ekXc\[lkiXmX`c# [\cË\dgcf`\k[\cX]fidXk`fegif]\jj`fee\cc\ <;<E eZfliX^\d\ekXl[m\cfgg\d\ek < [Ë\eki\gi`j\jeflm\cc\j <@ <eki\gi`j\`e[`m`[l\cc\ <LIC <eki\gi`j\le`g\ijfee\cc\~i\jgfejXY`c`kc`d`k\ =8> =iXeZ\XZk`m\^XiXek`\ =:G =fe[jZfddle[\gcXZ\d\ek ==9 =[iXk`fe]iXeX`j\[lYk`d\ek =>@= = fe[j[\^XiXek`\gflicXZiXk`fe#cXi\gi`j\ flc\[m\cfgg\d\ek~cË`e`k`Xk`m\[\j]\dd\j @88 @e[ljki`\X^ifXc`d\ekX`i\ CI@ CXe^l\[fZ$Ifljj`ccfe`e`k`Xk`m\ E8= Efd\eZcXkli\[\jXZk`m`kj]iXeX`j\j G8:K< Gif^iXdd\[ËXggl`~cXZiXk`fe \k~cXkiXejd`jj`fe[Ë\eki\gi`j\ G:< Gik~cXZiXk`fe[Ë\eki\gi`j\ G=:8 cXk\$]fid\`ek\i[gXik\d\ekXc\ G [\cXZiXk`fe[ËXZk`m`kj ¿& GX^\(*, >cfjjX`i\ G=@C GcXk\$]fid\[Ë`e`k`Xk`m\cfZXc\ GD< G\k`k\j\kdfp\ee\j\eki\gi`j\j GD@ G\k`k\j\kdfp\ee\j`e[ljki`\j I; I \Z_\iZ_\\k[m\cfgg\d\ek I<C8E:< I\cX`jcfZXcXe`dXk`fe:m\ee\j J8 JfZ`kXefepd\ J8IC JfZ`k~i\jgfejXY`c`kc`d`k\ J8J JfZ`kgXiXZk`fejj`dgc`Ô\ J:@: JfZ`kZffgiXk`m\[Ë`ekikZfcc\Zk`] J:FG JfZ`kZffgiXk`m\[\gif[lZk`fe J@8< J kilZkli\[Ë`ej\ik`fegXicËXZk`m`kZfefd`hl\ J@8>@ JfZ`k`ek\igif]\jj`fee\cc\Xik`jXeXc\ [\^XiXek`\ J@=8 JfZ`k[Ë`em\jk`jj\d\ek=iXeZ\XZk`m\ JAI JXcX`i\aflieXc`\i[\i]i\eZ\ JF:8D8 JfZ`k[\ZXlk`fedlkl\cc\Xik`jXeXc\ JFI@;<: JfZ`ki^`feXc\[\ZXg`kXc`em\jk`jj\d\ek GX^\(*- JE: JfZ`k\eefdZfcc\Zk`] KG< Ki jg\k`k\\eki\gi`j\ LG8 Le`fegif]\jj`fee\cc\Xik`jXeXc\ LI<@ Le`fei^`feXc\[\j\eki\gi`j\j[Ë`ej\ik`fe @e[\o @e[\o[\jXZk\lij[lIj\Xli^`feXc [ËXZZfdgX^e\d\ek~cXkiXejd`jj`fe G8><J */ *0 +) +* +, +. +0 ,( ,+ ,- ,. -' -* -, -- -/ .( .* 8jjfZ`Xk`fe\lifg\ee\gflic\kiXmX`c\kc\jZ_Xe^\j 8<K< 8jjfZ`Xk`fe[\^\jk`fe[l]fe[jgflicË`ej\ik`fe gif]\jj`fee\cc\[\jg\ijfee\j_Xe[`ZXg\j 8^\Ôg_ 8jjfZ`Xk`fe`ek\i[gXik\d\ekXc\gflic\[m\cfgg\d\ek [\cË`ej\ik`fegXicËZfefd`\8`i[`\ 8jjfZ`Xk`fegflicË\dgcf`[\jZX[i\j8g\Z 8jjfZ`Xk`fei^`feXc\[\j`e[ljki`\jX^if$Xc`d\ekX`i\j 8i`XCI 8jjfZ`Xk`fegflicË\dgcf`[XejcË`e[ljki`\\kc\ Zfdd\iZ\8jj\[`Z 9q`\ijD[`k\iiXe\<ogXej`fe 9flk`hl\j[\^\jk`fe[lCXe^l\[fZ$Ifljj`ccfe :[Xekj\ki\gi\e\lij[ËX]]X`i\j:I8 :\eki\[\i\jjfliZ\jgflicË\eki\gi\e\li`XkXl]d`e`e :I<= :_XdYi\j[\Zfdd\iZ\\k[Ë`e[ljki`\ [lCXe^l\[fZ$Ifljj`ccfe::@ :_XdYi\j[\dk`\ij\k[\cËXik`jXeXk [lCXe^l\[fZ$Ifljj`ccfe:D8 :fe][iXk`fe^eiXc\[\jg\k`k\j\kdfp\ee\j \eki\gi`j\j:>GD<CI :_XdYi\gif]\jj`fee\cc\[\jZfej\`cj[Ë\eki\gi`j\j \eCXe^l\[fZ$Ifljj`ccfe:CI ;`i\Zk`fej[gXik\d\ekXc\j[lkiXmX`c# [\cË\dgcf`\k[\cX]fidXk`fegif]\jj`fee\cc\ [lCXe^l\[fZ$Ifljj`ccfe;;K<=GCI =[iXk`fe]iXeX`j\[lYk`d\ekCXe^l\[fZ$Ifljj`ccfe ==9CI >Xi[i_f[Xe`\e[m\cfgg\d\ek&Jf[`\ Fi[i\[\j\og\ikj$ZfdgkXYc\j GX^\(*. @e[\o ., .. ./ /' /) /- // 0' 0) 0+ 0, F]ÔZ\i^`feXc[Ë`e]fidXk`fe#[\]fidXk`fe \k[\]fidXc`kj[\jgif]\jj`fejc`YiXc\j CXe^l\[fZ$Ifljj`ccfeFi`]]GCCI Fjf GcXk\$]fid\[\cXZiXk`fe[ËXZk`m`kj[\cË?iXlck G=:8*+ \k[\jGpie\j$Fi`\ekXc\jG=:8-- GcXk\j$]fid\j[Ë`e`k`Xk`m\cfZXc\[lCXe^l\[fZ$ Ifljj`ccfeG=@C I^`feCXe^l\[fZ$Ifljj`ccfe I\cX`jcfZXcXe`dXk`fe:m\ee\jI\cXeZ\ JfZ`kjZffgiXk`m\j[\gif[lZk`fe\eki\gi`j\j CXe^l\[fZ$Ifljj`ccfeJZfgCI JfZ`k[\ZXlk`fedlkl\cc\Xik`jXeXc\JfZXdX JfZ`k`ek\igif]\jj`fee\cc\Xik`jXeXc\[\^XiXek`\ [Ë`em\jk`jj\d\ekJ`X^` Jfi`[\Z Le`fei^`feXc\[\j\eki\gi`j\j[Ë`ej\ik`feLi\`CI @e[\o[\jX`[\jÔeXeZ` i\j GXik`Z`gXk`feXlZXg`kXc ('' Jfi`[\Z I\e]fiZ\d\ek[\j]fe[jgifgi\j ('( Gik[Ë_fee\li$G=@C (') Gi`j\[\gXik`Z`gXk`feXlZXg`kXc[\j\eki\gi`j\j ZffgiXk`m\jÆJZfgCI ('* JfZ`k[\ÔeXeZ\d\ek[\j\eki\gi`j\j[Ë`ej\ik`fe ÆLi\`CI ('+ 8ggfik\e]fe[jgifgi\j$8`i[`\ ('- :i[`kjfc`[X`i\$8`i[`\ ('. Gik[Ë_fee\li$8`i[`\ ('/ :fekiXk[\[m\cfgg\d\ekkiXejd`jj`fe$Fjf ('0 ;`jgfj`k`]JX]k\$:>GD< GX^\(*/ >XiXek`\j ((' (() ((+ ((- ((/ 8`[\~cË`em\jk`jj\d\eki\gi`j\$J`X^` G8:K<=fe[ji^`feXc[\^XiXek`\\e]Xm\li[\jGD< \k[\jGD@ÆI^`fe&Fjf G8:K<=fe[ji^`feXc[\^XiXek`\\e]Xm\li [\jg\k`k\j\eki\gi`j\jÆI^`fe&J`X^`&JfZXdX >XiXek`\=iXeZ\XZk`m\$8`i[`\ >XiXek`\[lÔeXeZ\d\ek[\cXkiXejd`jj`feg\k`k\j \kdfp\ee\j\eki\gi`j\j$Fjf =`eXeZ\d\ek[lgifa\k^cfYXc[\cË\eki\gi`j\ ((0 GXZk\8mXeZ\i\dYflijXYc\ÆI^`fe ()' Gik~cXZiXk`fe[Ë\eki\gi`j\$Fjf ()( I\e]fiZ\ic\]fe[j[\iflc\d\ek[\j\eki\gi`j\j ZffgiXk`m\jÆJZfgCI =`eXeZ\d\ek[lZfej\`c ()) 8`[\XlZfej\`cgfli[m\cfgg\icXZfdgk`k`m`k [\cË\eki\gi`j\i\gi`j\ÆI^`fe ()* 8`[\~cËmXclXk`fe[\cË\eki\gi`j\~Z[\i$I^`fe ()+ GikjXej^XiXek`\\kefeX]]\Zkgflic\jgifa\kj gfik\lij[Ë\dgcf`j$Jf[`\ =`eXeZ\d\ek[\ji\Zilk\d\ekj ()- 8`[\XlÔeXeZ\d\ek[ljXcX`i\[li\gi\e\li$I^`fe 8lki\jÔeXeZ\d\ekj (). 8`[\[\cË8^\Ôg_ ()/ 8`[\jflj]fid\[\ZXg`kXc$8jj\[`Z ()0 DX`ek`\egXik`\c[\jXccfZXk`fejg\e[XekcXg_Xj\ [\[dXiiX^\[\cË\eki\gi`j\$8jj\[`Z (*' 8`[\XloZ_d\lijZiXk\liji\gi\e\lij[Ë\eki\gi`j\ $;;K<=G (*( <eZfliX^\d\ekXl[m\cfgg\d\ek[Ë\eki\gi`j\j eflm\cc\j$;;K<=G (*) C\Z_ hl\Zfej\`c$;;K<=G (** 9flij\[\dXki`\cXlo\eki\gi`j\j$8`i[`\ GX^\(*0 efk\j GX^\(+'
Documents pareils
Notice dËinformation - Mon Financier Défiscalisation
C\=fe[jgi\e[iX[\jgXik`Z`gXk`fejZfdgfj\j[Ë`ejkild\ekjÔeXeZ`\ij[feeXekXZZ
jXlZXg`kXc2XZk`fejgfli+'d`e`dld \k
fYc`^Xk`fejZfem\ik`Yc\j#i\dYflijXYc\jflZ_Xe^\XYc\j#Yfej[\jflj...
Entre appartenance et exclusion
)( ½Gfibp¾[Zi`kjfe\ogi`\eZ\[Xejle^Xe^1½c\cXmX^\[\Z\im\Xl\jkm\el[\dfeXd`#AX`d\#hl`e\Z\jjX`k[\dË\eelp\iXm\ZXkfljc\jaflij\ei\ekiXek
[lZfcc
^\%AËX`kiXmX`ccgfli\l...
Caractéristiques techniques Films Kodak Noir et Blanc
gij\ek\ekle\ZfcfiXk`fedX^\ekXifj\ jl`k\~cX]`oXk`fe#Z\cX`e[`hl\
hl\c\]`oXk\li\jkgi\jhl\gl`jflhl\c\k\dgj[\]`oXk`fe\jkkifg
Zflik%J`cXZfcfiXk`fe\jkgifefeZ\\k`ii^lc...
Fiche Bethune
CXd`j\\eÅlmi\[Ële\m`j`fe^cfYXc\[\jgifa\kj[\i\eflm\cc\d\ekliYX`e`dgc`hl\cXd`j\
\egcXZ\[Ële\^flm\ieXeZ\X[Xgk\%CË8^\eZ\[ËliYXe`jd\[\cËXiife[`jj\d\ek[\9k_le\
Zi\ \e )''...
RßGLEMENT - Rock School Barbey
le`hl\d\ekjli:; XmXekc\(*aXem`\i)'()Xl:IFLJ[\jfeXZX[d`\
X[i\jj\Xl[fj #fl[`i\Zk\d\ekXl:IFLJ[\9fi[\Xlo$8hl`kX`e\j`jfe
:IFLJe\gXik`Z`g\gXj%
8Z_Xhl\\emf`[\mifekki\af...