ࡱ > ` bjbj Sn > 4
2p 2p 2p h p q 20=8O
?> A>AB02;5=8N :0@BK @C4>=>A=>AB8 7>= 38?5@35=570
A35>;:0@BK- 1 0 0 0
( B@5BL53> ?>:>;5=8O)
540:F8>==0O :>;;538O:
. . 5@18F:89, ". . C1>20, . . >30=A>=, . 8A5;52, . . 8@8:>2,
. . 5;L3C=>2, .. . 8@>=>2, . . $5>:B8AB>2, ". . '5?:0A>20
!0=:B- 5B5@1C@3
2 0 0 5
"@51>20=8O A>AB02;5=K 2> ! :>;;5:B82>@>2: . . (>@, . . !B0@G5=:>, . . 8@>=N:, . . C4@O2F52, . . 04N:528G, . . ;5:A55=:> 8 . (8?>2 ( $# !) .
4>1@5=K 0CG=>- @540:F8>==K25B> 35>;>38G5A:>3@0D8@>20=8N B5@@8B>@88 >AA89A:>9 $545@0F88 $545@0;L=>3> 035=BAB20 ?> =54@>?>;L7>20=8N ( ! >A=54@0) . @>B>:>; N@> ! >B 1 0 8N=O 2 0 0 5 3. ! 1 1 .
#B25@645=K #?@02;5=85;>38G5A:8E >A=>2, =0C:8 8 8=D>@3> 035=BAB20 ?> =54@>?>;L7>20=8N >AA88 ( ?@>B>:>; "! >A=54@0 >B
2 0 0 6 3. !
!
T O C \ o " 1 - 1 " \ h \ z \ t " 03>;>2>: 2 ; 2 ; 03>;>2>: 3 ; 3 " H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 2 " 2545=85 P A G E R E F _ T o c 8 9 5 8 3 0 1 2 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 3 " 1 . 1I85 A2545=8O > 7>=5 38?5@35=570 P A G E R E F _ T o c 8 9 5 8 3 0 1 3 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 4 " 1 . 1 ?@545;5=85 ?>=OB8O 7>=0 38?5@35=570 P A G E R E F _ T o c 8 9 5 8 3 0 1 4 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 5 " 1 . 2 1I85 >A>15==>AB8 7>=K 38?5@35=570 8 35>;>38G5A:85 D0:B>@K, 8E >?@545;ONI85. P A G E R E F _ T o c 8 9 5 8 3 0 1 5 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 6 " 1 . 2 . 1 ;828O. P A G E R E F _ T o c 8 9 5 8 3 0 1 6 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 7 " 1 . 2 . 2 "5:B>=8G5A:89 @568AB02 ?>@>4 P A G E R E F _ T o c 8 9 5 8 3 0 1 8 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 1 9 " 1 . 2 . 4 !>2@5=K 38?5@35=570 8 >A>15==>AB8 ?@>O2;5=8O 38?5@35==KE ?@>F5AA>2 2 4>:5E8. P A G E R E F _ T o c 8 9 5 8 3 0 1 9 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 0 " 1 . 2 . 5 !?5F8D8:0 @0728B8O 38?5@35==KE ?@>F5AA>2 2 ?@545;0E 3;02=KE 35>;>38G5A:8E AB@C:BC@ @07=>2>7@0AB=KE A:;04G0BKE >1;0AB59, I8B>2 8 G5E;>2 ?;0BD>@>1@07>20=88 2 7>=5 38?5@35=570. P A G E R E F _ T o c 8 9 5 8 3 0 2 1 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 2 " 1 . 3 . 1 @54?>AK;:8 D>@20=8O @C4>>1@07CNI8E A8AB547>=5 2K25B@820=8O. P A G E R E F _ T o c 8 9 5 8 3 0 2 2 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 3 " 1 . 3 . 2 @54?>AK;:8 D>@20=8O @C4>>1@07CNI8E A8AB547>=5 3;C1>:>9 F8@:C;OF88 ?>4754 0BAD5@=>3> ?8B0=8O. P A G E R E F _ T o c 8 9 5 8 3 0 2 3 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 4 " 1 . 3 . 3 $>@20=85 @C4=KE 0AA>F80F89 2 ?>47>=5 :>=B8=5=B0;L=KE >B;>65=89. P A G E R E F _ T o c 8 9 5 8 3 0 2 4 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 5 " 1 . 3 . 4 5:>B>@K5 48A:CAA8>==K5 2>?@>AK 2 ?@>1;51@07>20=89. P A G E R E F _ T o c 8 9 5 8 3 0 2 5 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 6 " 2 . "8?K 38?5@35==KE @>645=89 P A G E R E F _ T o c 8 9 5 8 3 0 2 6 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 7 " 2 . 1 AB0B>G=K5 @>645=8O ( I ) P A G E R E F _ T o c 8 9 5 8 3 0 2 7 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 2 8 " 2 . 1 . 1 AB0B>G=K5 @>645=8O, A2O70==K5 A 3;8=8ABK@0G=K5 @>645=8O, A2O70==K5 A ;0B5@8B=K;8=>2K@0<8 2K25B@820=8O P A G E R E F _ T o c 8 9 5 8 3 0 2 9 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 0 " 2 . 1 . 3 C4=K5 H;O?K <8=5@0;L=KE @>645=89 8 7>=K >:8A;5=8O AC;LD84=KE @>645=89 P A G E R E F _ T o c 8 9 5 8 3 0 3 0 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 1 " 2 . 2 =D8;LB@0F8>==K5 @>645=8O ( I I ) P A G E R E F _ T o c 8 9 5 8 3 0 3 1 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 2 " 2 . 2 . 1 @C=B>2>- 8=D8;LB@0F8>==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 3 2 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 3 " 2 . 2 . 2 ;0AB>2>- 8=D8;LB@0F8>==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 3 3 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 4 " 2 . 2 . 3 "@5I8==>- 8=D8;LB@0F8>==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 3 4 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 5 " 2 . 2 . 4 0@AB>2>- 8=D8;LB@0F8>==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 3 5 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 6 " 2 . 3 =D8;LB@0F8>==K5 @>645=8O A;>6=>3> 35=578A0 ( M:AD8;LB@0F8>==>- 8=D8;LB@0F8>==K5, I I I ) P A G E R E F _ T o c 8 9 5 8 3 0 3 6 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 7 " 2 . 3 . 1 84@>B5@- 8=D8;LB@0F8>==K5 @>645=8O 83> 8 >;>2A:>3> B8?>2 P A G E R E F _ T o c 8 9 5 8 3 0 3 7 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 8 " 2 . 3 . 2 5AB>@>645=8O AB@5;LF>2A:>3> B8?0 P A G E R E F _ T o c 8 9 5 8 3 0 3 8 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 3 9 " 2 . 3 . 3 5AB>@>645=8O, ;>:0;87>20==K5 2 7>=0E AB@C:BC@=>- AB@0B83@0D8G5A:8E =5A>3;0A89 P A G E R E F _ T o c 8 9 5 8 3 0 3 9 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 0 " 2 . 3 . 4 5AB>@>645=8O, A2O70==K5 A ?@>F5AA0:8A;>B=>3> 2KI5;0G820=8O P A G E R E F _ T o c 8 9 5 8 3 0 4 0 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 1 " 2 . 4 -:AD8;LB@0F8>==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 4 1 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 2 " 2 . 5 >AAK?=K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 4 2 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 3 " 2 . 6 "5E=>35==K5 @>645=8O P A G E R E F _ T o c 8 9 5 8 3 0 4 3 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 4 " 3 . "8?>2K5 35>48=01AB0=>2:8 ;>:0;870F88 38?5@35==KE @>645=89 P A G E R E F _ T o c 8 9 5 8 3 0 4 4 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 5 " 4 . "@51>20=8O 8 48:0 A>AB02;5=8O :0@BK @C4>=>A=>AB8 7>=K 38?5@35=570 ;L7>20==0O ;8B5@0BC@0 P A G E R E F _ T o c 8 9 5 8 3 0 4 7 \ h 2
H Y P E R L I N K \ l " _ T o c 8 9 5 8 3 0 4 8 " @8;>65=85 1 . @>5:B ;535=4K :0@BK @C4>=>A=>AB8 7>=K 38?5@35=570 <0AHB010 1 : 1 0 0 0 0 0 0 . P A G E R E F _ T o c 8 9 5 8 3 0 4 8 \ h 2
2545=85
!@548 @>645=89 @C4=KE 8 =5@C4=KE B25@4KE ?>;57=KE 8A:>?05<KE 38?5@35==K5 @>645=8O 70=8A>1>5 ?>;>65=85. => >?@545;O5BAO: 1 ) =081>;LH59 4>ABC?=>ABLN MB8E @>645=89 4;O :>3> 87CG5=8O 8 >B@01>B:8, 2 A2O78 A 8E ?@8C@>G5==>ABLN, :0: ?@028;>, : ?@8?>25@E=>AB=>9 G0AB8 759 :>@K; 2 ) =5@54:> ?@>4>;60NI8OI55 2@5F5AA0>1@07>20=8O, GB> A>7405B 1>;LH85 2>76=>AB8 4;O 8E 3;C1>:>3> 87CG5=8O 8 @07@01>B:8 2KA>:>MDD5:B82=KE 4>2 ?@>3=>78@>20=8O 8 ?>8A:>2; 3 ) 2>76=>ABLN ?@8B@01>B:8 >4=>3> 87 =081>;55 @5=B015;L=KE A>2@5;>38G5A:8E 4>2 40 A:2068==>3> ?>4753> 2KI5;0G820=8O 8 25AL3> 40 A:2068==>9 384@>4>1KG8; 4 ) =0;8G85AB025 38?5@35==KE :@C?=KE 8 C=8:0;L=KE @>645=89, >?@545;ONI8E - AK@L52CN 107C >B45;L=KE @538>=>2 8 2 @O45 A;CG052 >B45;L=KE AB@0=.
0?@02;5=85 8AA;54>20=89, A2O70==>5 A A>AB02;5=85=>A=>AB8 7>=K 38?5@35=570, =>2>5. => =5 ?@54CAAL 2 @01>B0E ?> >A35>;:0@B5 1 0 0 0 / 1 8 1 0 0 0 / 2 , 2 A2O78 A G5?KB 55 A>AB02;5=8O >BACBAB2C5B. 01>B0 89 AB5?5=8 ?8>=5@A:89 E0@0:B5@.
!;>6=>AB8 2 87CG5=88 ?@>1;5=>A=>AB8 7>=K 38?5@35=570 A2O70=K A >BACBAB2853> ?@54AB02;5=8O >1 >1J55=88 A09 7>=K. MB8 >A>15==>AB8 >?@545;ONB A>AB02 70:;NG5==KE 2 =59 @C4=KE >1J5:B>2. @54AB02;5=8O > A2O78 7>=K 38?5@35=570 A> AD5@>9 45OB5;L=>AB8 035=B>2 38?5@35=570 ?>72>;ONB 2:;NG8BL 2 55 A>AB02 =5 B>;L:> @C4=K5 >1J5:BK, ?@8C@>G5==K5 : :>@5 2K25B@820=8O, => 8 H8@>:89 :@C3 @>645=89, AD>@20==KE 2 >1;0AB8 035=B0 38?5@35=570 ?>4754 0BAD5@=>3> ?@>8AE>645=8O, 2 B. G. A>45@60I8E @0AB2>@5==K9 18>35==K9 :8A;>@>4.
5@54 =0AB>OI820=8OAB02;5=K A;54CNI85 7040G8:
!>1@0BL, >1>1I8BL 8 ?@>0=0;878@>20BL D0:B8G5A:85 @C4>=>A=>AB8 7>=K 38?5@35=570.
07@01>B0BL B8?870F8N @C4=KE >1J5:B>2 7>=K 38?5@35=570 A CG5B>2KE >1AB0=>2>: 8E ;>:0;870F88 8 35=5B8G5A:8E >A>15==>AB59 @C4>>1@07>20=8O.
1>A=>20BL ?>4E>4K 8 @07@01>B0BL 48:C A>AB02;5=8O :0@BK @C4>=>A=>AB8 7>=K 38?5@35=570.
@54;030520=8O & A>AB02;5=K ?> 8=8F80B825 702. >B45;0=N:0 8 . . !B0@G5=:>, 02B>@0<8 3;02=K@>< 8 254CI8< =. A. . . C4@O2F52K =. A. . . 04N:528G0, 254CI53> 8=65=5@0 . . ;5:A55=:> ( @0745; 4 ) 8 8=65=5@0 I :0B. . . (8?>20 ( @0745;K 3 , 4 ) . =8 0?@>18@>20=K =0 @01>G525I0=88 ?> ?@>1;5<0740=8O :>2 >A35>;:0@B $- 1 0 0 0 B@5BL53> ?>:>;5=8O 4 - 6 O@A:35>;AJ5@K AG8B0NB A2>8< ?@8OB=K;3>ABL 70254CNI8B45;0;>388 8 ?>;57=KE 8A:>?05AB>G=>9 !818@8 . . 8@>=N:C 8 48:8 ?>8A:>2>- AJ5G=KE @01>B . . !B0@G5=:> 8 703> 48@5:B>@0 ! . . 8A5;52C 70 ?@54AB02;5==CN 2>76=>ABL CG0AB2>20BL 2 @01>B0E ?> 38?5@35==>B25BAB25==K;=8B5;O2 2> !, 2 $# @0A=>O@A:35>;AJ52>48B5;OA;54=53> 70 :>=AC;LB0F88 8 ?>IL 2 A1>@5 8 0=0;875 D0:B8G5A:8E 2. 2B>@K 1;03>40@OB @C:>2>48B5;O ?@>5:B0 . . 5@18F:>3> 70 ?>445@6:C 8 >?5@0B82=CN ?>IL 2 @5H5=88 B5:CI8E 2>?@>A>2, 0 B0:65 . . !B0@G5=:>, 27O2H53> =0 A51O B@C4 ?> @540:B8@>20=8N @C:>?8A8.
1I85 A2545=8O > 7>=5 38?5@35=570
?@545;5=85 ?>=OB8O 7>=0 38?5@35=570
>=OB85 38?5@35=57 22545=> . . $5@A?@545;5=8O A>2>:C?=>AB8 35>E8F5AA>2, ?@>8AE>4OI8E 2 ?@8?>25@E=>AB=>9 G0AB8 759 :>@K. !CI5AB25==0O AE5ABL >?@545;5=8O B5@<8=0 ?@825;0 : @07;8G=K B>;:>20=8O< @07=K20B5;O;;5:B82>@>2 ?>4 @C:>2>4AB2>20 >?C1;8:>20=0 ?5@20O >1AB>OB5;L=0O A2>4:0, A>45@60I0O >?8A0=85 @07;8G=KE ?@>4C:B>2 7>=K 38?5@35=570, :;0AA8D8F8@>20==KE 2 A>>B25BAB288 A 53> ?@54AB02;5=8O9 @01>BK, ?@54AB02;ONI59 A>1>9 48G5A:>5 ?>A>185 ?> 35>;>38G5A:>9 AJ5= 38?5@35=570 ?>72>;O5B A>A@54>B>G8BL 2=8B>@KE =>2KE ?@54AB02;5=8OE >1 CA;>28OE >1@07>20=8O 8 =K 38?5@35=570, >A=>20==KE =0 0=0;875 8725AB=KE, 2 B>2L >B:@KBKE 38?5@35==KE @>645=89, E0@0:B5@8AB8:0 :>B>@KE ?@82545=0 2 A>>B25BAB2CNI8E @0745;0E =0AB>OI8E "@51>20=89 & .
081>;LH85 2:;04K 2 87CG5=85 ?@>F5AA>2 38?5@35=570 A2O70=K A 8<5=0<8 . . $5@A3>, . . >;K=>20, . . 8=71C@30, . . &5E>3>, . . 8E09;>20, . . 5B@>20, . . >1@>2>;LA:>3> 8 4@. 7CG5=8N =K 38?5@35=570 ?>A2OI5=K @01>BK !. !. !20, . . %>;>4>20, $. . 'CE@>20, . . 5@5;L<0=0, . . (28G0 8 4@. 8AA;54>20B5;59.
>=0 38?5@35=570, C=8:0;L=0O ?> @C4>=0AKI5==>AB8, :0G5AB2C 8 @07=>>1@078N <8=5@0;L=KE @>645=89, O2;O5BAO, ?>- ACI5AB2C, 548=AB25==KG=8:>:>:0G5AB25==KE @C4 0;N;8=0, 206=KAB02I8:>30BKE @C4 65;570, 3> =8:5;O, :5@03=5C?>@=KE 3;8=, :@C?=KE @>AAK?=KE @>645=89 B8B0=0, 1;03>@>4=KE 8 =5:>B>@KE @54:8E 2, 4@03>F5==KE :0;57=KE 8A:>?05=5 38?5@35=570 >1=0@C65=K C=8:0;L=K5 ?> 70?0A02K5 @>645=8O, :@C?=K5 @>645=8O ;>B0. AA;54>20=8O ?>A;54=8E ;5B A2845B5;LAB2CNB >1 CG0AB88 38?5@35==KE ?@>F5AA>2 2 >1@07>20=88 38E @>645=89, @0=55 >B=>A82H8EAO : :0B53>@88 M=4>35==KE 384@>B5@OI8E "@51>20=8OE & ?>4 7>=>9 38?5@35=570 ?>=825@E=>AB=0O G0ABL 759 :>@K, 2 ?@545;0E :>B>@>9 ?@>8AE>48B ?>AB>O==>5 2708459AB285 0BAD5@K 8 384@>AD5@K A ;8B>AD5@>9 ?@8 CG0AB88 18>35==KE D0:B>@>2 8 ?>AB>O==>15A?5G5=88, 2 CA;>28OE >B=>A8B5;L=> =87:8E B55 >?@545;5=85 ?>=OB8O 7>=0 38?5@35=570 >1CA;>2;8205B =5>1E>48ABL >B=5A5=8O : ?@>872>4=K9 7>=K @07;8G=KE ?@>4C:B>2 :>=B8=5=B0;L=>3> ;8B>35=570, B. :. 8E >1@07>20=85 O2;O5BAO @57C;LB0B>< 2708459AB285 ;8B>AD5@K, 384@>- , 0B- 8 18>AD5@K.
;C18=0 2>76=>3> @0A?@>AB@0=5=8O ?@>4C:B82=KE 38?5@35==KE ?@>F5AA>2 >?@545;O5BAO 3;C18=>9 ?@>=8:=>25=8O 8=D8;LB@0F8>==KE ?>B>:>2 ?>4754 0BAD5@=>3> ?@>8AE>645=8O 2 384@>48=0=0E A2>1>4=>3> 8 70B@C4=5==>3> 2>4>>1<5=0. =0 65B 4>AB830BL 42CE :8;>2 2 45?@5AA8>==KE AB@CBC@0E M?8?;0BD>@@>35=>2 8 AC1>@>35==KE ?>OA>2 ( 2>AB>: "C@0=A:>9 8 N3>- 2>AB>: 0?04=>- !818@A:>9 ;>4KE ?;8B) .
A=>2=0O G0ABL >:50=8G5A:8E 1;>:>2 ?@0:B8G5A:8 87>;8@>20=0 >B 0BAD5@=KE 035=B>2, 2 7=0G8B5;L=>9 AB5?5=8 >?@545;ONI8E A>45@60=85 38?5@35==KE ?@>F5AA>2, I=>9 B>;I59 @A:8E 2>4. 5>E8F5AAK, ?@>8AE>4OI85 2 ?@8?>25@E=>AB=>9 G0AB8 >:50=8G5A:8E 1;>:>2, ?@8=F8?80;L=> >B;8G0NBAO >B B5E, :>B>@K5 ?@>8AE>4OB 2 7>=5 38?5@35=570 :>=B8=5=B0;L=KE 1;>:>2.
A>1K5 CA;>28O 2 7>=5 38?5@35=570 :>=B8=5=B0;L=KE 1;>:>2 A>740NBAO =0 CG0AB:0E ?@>O2;5=8O 2C;:0=8G5A:8E ?@>F5AA>2 8 >1@07>20=8O 8<?0:B=KE AB@C:BC@, 345 2708459AB285 AD5@ ?@>8AE>48B 2 CA;>28OE ?>2KH5==>3> B5?;>2>3> @568<0, 873> A>AB>O=8O ;8B>AD5@K, 2KA>:>9 03@5AA82=>AB8 035=B>2 384@>- 8 0BAD5@K, A2O70==KE A ?>ABC?;5=8535==KE ?@>4C:B>2.
1I85 >A>15==>AB8 7>=K 38?5@35=570 8 35>;>38G5A:85 D0:B>@K, 8E >?@545;ONI85.
54CI8@0?@545;ONI8@20=8O 8 M2>;NF88 7>=K 38?5@35=570 O2;ONBAO :;828O, B5:B>=8G5A:89 @568AB02 ?>@>4 ?@8?>25@E=>AB=>9 G0AB8 :>=B8=5=B0;L=KE 1;>:>2 759 :>@K.
;828O.
=B5=A82=>ABL E81@07>20=89 3>@=KE ?>@>4 8 D878G5A:>9 8E 4578=B53@0F88 2 ?@8?>25@E=>AB=>9 G0AB8 :>=B8=5=B0;L=KE 1;>:>2 2 7=0G8B5;L=>9 AB5?5=8 >?@545;ONBAO 8=B5=A82=>ABLN 2>4=>3> >1=5 38?5@35=570.
@8 >B=>A8B5;L=> M=5@38G=>4=>< >125@E=>AB=>9 G0AB8 :>=B8=5=B0;L=KE 1;>:>2 2 ?@>F5AA5 :;83> :@C3>2>@>B0 2>4K >1KG=> =5 4>AB830NB E825A=>3> A>AB>O=8O A 2<5I0NI8@>40<8 8 E0@0:B5@87CNBAO ?@58 =87:845@60=85@5==KE 2 =8E :>=5=B>2. MB8E A;CG0OE, >A>15==> 2 CA;>28OE B5?;KE 8 60@:8E 3C<84=KE :;82, ?@8 1;03>?@8OB=KE 35>@D>;>38G5A:8E >1AB0=>2:0E, A>740NBAO ?@54?>AK;:8 :>=F5=B@8@>20=8O 1>;55 CAB>9G82KE : 2K25B@820=8N :>=5=B>2 3>@=KE ?>@>4 2 M;N280;L=KE :>@0E 2K25B@820=8OE 8 ?@>4C:B0E 8E ?5@5>B;>65=8O, >1CA;>2;5==KE M@>78>==>- 45=C40F8>==KF5AA0E8 0@84870F88 :;828OE 45D8F8B0 2;038 2 ?@8?>25@E=>AB=>9 G0AB8 :>=B8=5=B0;L=KE 1;>:>2 A>740NBAO ?@54?>AK;:8 4;O 2>7=8:=>25=8O D8;LB@0B>2, >1>30I5==KE <8=5@0;L=K=5=B0A>15==> 2 CA;>28OE 8=B5=A82=>9 A>;=5G=>9 @0480F88, 1>;55 O@:> 2K@065==>9 2 4@52=85 M?>E8. >7@0AB0=85 >1I59 4 A?>A>1AB2C5B 8A?0@8B5;L=>5 :>=F5=B@8@>20=85 @0AB2>@5==KE :>=5=B>2. "0:85 2>4K =5@54:> >1;040NB 2KA>:>9 E89 0:B82=>ABLN ?> >B=>H5=8N : 2<5I0NI8@>401@07>20=85 2 7>=5 38?5@35=570 @>4 B8?0 :0;L:@5B>2, A8;L:@5B>2, 38?:@5B>2, :20@F8B>2 8 4@C38E >1@07>20=89, 2 B>=>A=KE 68;, G0AB> ?@8=8<05872>4=K5 M=4>35==>9 384@>B5@9 45OB5;L=>AB8.
"5:B>=8G5A:89 @568AB>O=85 >B=>A8B5;L=>3> ?>:>O B5:B>=8G5A:8E 1;>:>2 A?>A>1AB2C5B D>@20=8N 25@B8:;L=>3> ?@>D8;O 384@>48=03> @02=>25A8O 2 7>=5 38?5@35=570. 5AB018;870F8O B5:B>=8G5A:>3> @568B=>A8B5;L=K;NB=K74K<0=85=B8=5=B0;L=KE 1;>:>2, A>?@>2>6405BAO ?>=865=851I53> 8 ( 8;8) @538>=0;L=>3> 1078A0 M@>788, =0@CH5=85B0==KE ?@>D8;59 384@>35>;>38G5A:>3> @02=>25A8O, 2>7@0AB0=859 M=5@388 ?@8?>25@E=>AB=KE 384@>48=0<8G5A:8E A8AB5=5G=>2KH5=85AB8 D878G5A:>9 8 E89 45=C40F88 :>=B8=5=B>2, B. 5. 2>7@0AB0=85< ?5@5=>A0 25I5AB20 2 ?@8?>25@E=>AB=>9 G0AB8 ;8B>AD5@K.
!;54AB28574K;6=> 1KBL @0742865=85 @0AA5:0NI8E 1;>: 3;C1>:> ?@>=8:0NI8E B@5I8=, 4>AB830NI8E C@>2=O 2>71C645=8O ?>4=OB89. "0:85 B@5I8=K 3CB A;C68BL 5AB5AB25==K4>A1>@=K<8 AB@C:BC@0<8 8 ?CBO<8 4754 2 =0?@02;5=88 : 2=CB@8:>=B8=5=B0;L=K< 45?@5AA8O=0@=K4>5<0AB02 ?>@>4
>@=K5 ?>@>4K >1;040NB 7=0G8B5;L=KE8<8G5A:8<8 @5AC@A0;57=KE :>=5=B>2, @0A?@545;5==KE 2 ?>@>40E 25AL 4065 2 8E >4=>B8?=KE @07=>284=>ABOE. 0?@84=>@>4 :8A;>3> 8 C- :8A;>3> A>AB020 A>45@60BAO =K B>== B8B0=0, 10@8O, AB@>=F8O 8 4@C38E M;52, BKAOG8 8;8 45AOB:8 BKAOG B>==10;LB0, 2>;LD@0<0, ;8145=0 8 4@. "0:81@07>28OE 8A:;NG8B5;L=>9 35B5@>35==>AB8 7>=K 38?5@35=570, 4065 =51>;LH0O 4>;O 35>E82 3>@=KE ?>@>4 65B >15A?5G8BL ?@8 1;03>?@8OB=KE CA;>28OE D>@20=85 :@C?=KE @>645=89 ?>;57=KE 8A:>?052@5=K 38?5@35=570 8 >A>15==>AB8 ?@>O2;5=8O 38?5@35==KE ?@>F5AA>2 2 4>:5E8.
8?5@35==K5 ?@>F5AAK @0A?@>AB@0=5=K ?>2A5 8 =5?>A@54AB25==> 7028AOB, :0: C:07K20; . . $5@AB E0@0:B5@0 8 A:>@>AB8 M@>788. @8 A8;L=>9 8 3;C1>:>9 M@>788 >=8 ?@>O2;5=K >G5=L A;01> ( :>@>G:8, ?>1560;>AB8 8 4@. ) . A;CG05 A;01>3> 3> A=>A0 8 9 M@>788 7>=0 38?5@35=570, A;54CO @5;L5DC AB8, 65B 8<5BL 7=0G8B5;L=CN I=>ABL 8 ?@>=8:0BL 2 =54@0 >G5=L 3;C1>:>. . . $5@A48B 420 ?@8B>@KE ?@>O2;5=> <5E0=8G5A:85 2K25B@820=85, 8 !@54=OO 78O, 345 38?5@35==K5 87AB8, :8A;>@>4=0O ?>25@E=>ABL ?@>=8:05B 4> 3;C18= 2 5 0 0 - 6 0 0 <. "5< A0<K ?@54A:070=> 3;C1>:>5 ?@>=8:=>25=85 2 =54@0 M?835=5B8G5A:8E ?@>F5AA>2 >:8A;8B5;L=>9 =0?@02;5==>AB8, :>B>@>5 ?>4B25@48;>AL @01>B0E>;3> ?@54?@8OB8O, !0 8 ! 2 5 0 KE 8 =0G0;5 6 0 KE 3. 3.
!@548 38?5@35==KE ?@>F5AA>2 4;O F5;59 "@51>20=89 & =081>;LH55 7=0G5=85 8@>>1@07>20=85 8 45OB5;L=>ABL ?>4754 0BAD5@=>3> ?8B0=8O. A MB8F5AA0AA88 8 70 @C156>;55 206=K5 38?5@35==K5 @>645=8O ( N i , C o , M n , U , @07;8G=K5 A>;8 8 4@. ) .
>@K 2K25B@820=8O ( M;N289) ?@54AB02;ONB A>1>9 @KE;K5 ?@>4C:BK ?@5>1@07>20=8O 2 7>=5 38?5@35=570 3>@=KE ?>@>4 @07;8G=>3> ;8B>;>38G5A:>3> 8 ?5B@>3@0D8G5A:>3> A>AB020. 081>;LH59 I=>AB8 2 45AOB:8 A>B=8 2 >=8 4>AB830NB 2 CA;>28OE 2;06=>3> 8 60@:>3> :;8?8:>2. ?CABK=OE, 2 @09>=0E @0728B8O 3>;5B=59 BK, =0 :@CBKE A:;>=0E 3>@ I=>ABL :>@K 2K25B@820=8O <8=8=0 >BACBAB2C5B.
?@>H;K5 35>;>38G5A:85 M?>E8 CA;>28O, 1;03>?@8OB=K5 4;O >1@07>20=8O :>@ 2K25B@820=8O, 2>7=8:0;8 =5>4=>:@0B=>. (8@>:8AB@0=5=85@88 >AA88 ?>;L7CNBAO ?>74=5B@80A>2K5 @0==5N@A:85 :>@K ( #@0;, N3 0?04=>9 !818@8 8 4@. @09>=K) .
0 B5@@8B>@88 >AA88 8725AB=K 4@52=85 4>:57>9A:85, 35=>2K5 8 4@C385 :>@K 2K25B@820=8O. @52=85 :>@K 2K25B@820=8O =5 8H=>3> @0A?@>AB@0=5=8O. =8 A>E@0=8;8AL ;8HL =0 CG0AB:0E, ?>425@3H8EAO =08788.
! 45OB5;L=>ABLN ?>4754 0BAD5@=>3> ?8B0=8O A2O70=K 425 3@C??K 38?5@35==KE @>645=89 8=D8;LB@0F8>==K5 8 M:AD8;LB@0F8>==K5. >A;54=85 A2O70=K A 7>=>9 38?5@35=570 B>;L:> ?@8 =0;8G88 8AB>G=8:>2 @C4=>3> 25I5AB20 21;878 >G03>2 M:AD8;LB@0F88 ?>4754.
081>;55 :@C?=K5 8=D8;LB@0F8>==K5 ?>B>:8 ?>4754 @072820NBAO 2 >1@0@@>35==KE AB@C:BC@ =0 ABK:5 8E A >A04>G=K<8 ( 0@B5780=A:8<8) 10AA59=0ABL ==KE ?>B>:>2 2 ?;0AB>2KE 3>@87>=B0E 0@B5780=A:8E 10AA59=>2 ;>4KE ?;0BD>@AA88 - 0?04=>- !818@A:>9 8 !:8DA:>9 >B ?>4=>68O >@>35==KE AB@C:BC@ 2 3;C1L 10AA59=>2 4>AB8305B A>B5= :8;>2, 0 =0 N3>- 2>AB>:5 0?04=>9 !818@8 ?> <0AHB010?>AB0282>@C4=K<8 0@B5780=A:8<8 10AA59=0AB>:0 "C@0=A:>9 ?;8BK ( C4@O2F52, (>@, 2 0 0 1 ) .
0;8G85 7>= 3@C=B>2>3> 8 ?;0AB>2>3> >:8A;5=8O 2 ?@>=8F05@87>=B0E 25@E=59 N@K 8 @0==53> =F5=B@8@CNI8E C@0=>2>5 >@C45=5=85 2 ?0;5>4>;8=0E N30 0?04=>- !818@A:>9 ?;8BK, A2O7K205BAO A M?>E>9 0@84870F88 :;8<0B0 2 @0==5< O2;5=8O 1K;KE M?835=5B8G5A:8E ?@>F5AA>2 >:8A;8B5;L=>9 =0?@02;5==>AB8.
/@:8< ?@8< 38?5@35==KE A8AB535=57, @072820NI89AO 2 A>2@5EC 2 CA;>28OE 0@84870F88 :;835=>2K9, ?5@=A:89 8 :535=57. @52=59 30;>35=57 =5 ?>E>6 =0 A>2@59 A2O78 C >1@0B8BL 2=8A>15==>AB8 38?5@35=570 2 4>:5E8, :>B>@K5 ACI5AB25==> >B;8G0;8AL >B A>2@5=AB@C:F88 >1AB0=>2>: 4>:53> 38?5@35=570 2K?>;=5=K . . 8E09;>2K< ( 1 9 9 1 ; @54. 1 9 9 5 ) . BAK;0O : MB8B0< C:065 >1O70B5;L=K=K 4@52=53> 38?5@35=570 . . 8E09;>2 AG8B05B =0;8G85 AB@0B83@0D8G5A:>3> 8;8 AB@C:BC@=>3> =5A>3;0A8O, 0 4;O >1@07>20=89 ?>25@E=>AB=>3> 38?5@35=570 A>>B25BAB2CNI53> :>=B8=5=B0;L=>3> ?5@5@K20. ;C1>:>5 87CG5=85 MB8E 2>?@>A>2 70 @C156>=0E A ?@8C@>G5==>ABLN : 7>=0- AB@0B83@0D8G5A:8E =5A>3;0A89 ( !! ) 2 4>:530BKE 8 C=8:0;L=KE ?> :0G5AB2C @C4 C@0=>2KE, 7>;>B>- C@0=>2KE 8 4@C38E @>645=89.
!?5F8D8:0 @0728B8O 38?5@35==KE ?@>F5AA>2 2 ?@545;0E 3;02=KE 35>;>38G5A:8E AB@C:BC@ @07=>2>7@0AB=KE A:;04G0BKE >1;0AB59, I8B>2 8 G5E;>2 ?;0BD>@@>>1@07>20=8O 8 45OB5;L=>ABL ?>4754 0BAD5@=>3> ?8B0=8O >?@545;ONB 38?5@35==CN ;>38G5A:8E AB@C:BC@0E.
>@>>1@07>20=85 ?@>O2;5=> 2 M?>E8 4;8B5;L=KE :>=B8=5=B0;L=KE ?5@5@K2>2, E0@0:B5@87CNI8EAO >?@545;5==K<8 :;8<0B8G5A:8@>3@0D8G5A:8;>38G5A:828O2 8 A>02B>@K ( 1 9 9 5 ) 2K45;ONB =0 B5@@8B>@88 >AA88 A;54CNI85 M?>E8, 87CG5==K5 2 ?@545;0E @07=>2>7@0AB=KE A:;04G0BKE >1;0AB59, =0 I8B0E 4@52=8E 8 ;>4KE ?;0BD>@74=5?@>B5@>7>9A:0O ( 3;02=K1@07>74=5@8D59- 25=4A:0O) ?@>O2;5=0 =0 I8B0E !818@A:>9 ?;0BD>@9 A:;04G0B>9 >1;0AB8.
!@54=5- ?>74=5452>=A:0O ( #@0;, "8<0=) .
0==5:0C3>;L=0O ( 2>AB>G=K9 A:;>= 0;B89A:>3> I8B0, >@>=56A:89 <0AA82 8 .6=K9 "8@CN 8 B@5BLN M?>E8, ?>- 2848<C, 6=> @0AA2.
>74=5B@80A>20O M?>E0 ?@>O2;5=0 =0 2>AB>G=>=5 #@0;0 8 2 >1@07>9A:>3> 070EA:>3> I8B0. -BC M?>EC, ?>- 2848<C, 8<55B AAB@0=8BL =0 @0==NN, G0AB8G=> A@54=NN N@C, 2@5A?>4AB20 C3> :;8:>3> @0728B8O ?@>F5AA>2 C3;5=0:>?;5=8O.
5;>20O ( ?@58 0?B- A5=>E0 ?@>O2;5=0, ?>- ACI5AB2C, =0 2A59 B5@@8B>@88 A525@0 2@0788, 8A:;NG0O 7>84K >AB>:0 >AA88. 0 7=0G8B5;L=>9 B5@@8B>@88 N30 >AA88 ( ;B05- !0O=A:0O >1;0ABL, =8A59A:89 :@O6, 0109:0;L5 8 4@. @538>=K) 20O M?>E0 65B 1KBL >1J548=5=0 A M>F5=>2>9 8 A>>B25BAB25==> 2K45;OBLAO :0: 35=>20O
;83>F5=>20O M?>E0 ?@>O2;5=0 =0 #@0;5, ;B05 8 2 !0O=0E.
0;>65==K5 87=8F05@>4 >:8A;8B5;L=>9 8 2>AAB0=>28B5;L=>9 =0?@02;5==>AB8, A2O70==K5 A 45OB5;L=>ABLN ?>4754 0BAD5@=>3> ?8B0=8O H8@>:> @0A?@>AB@0=5=K 2 G5E;0E 4@52=8E 8 ;>4KE ?;0BD>@=K >:8A;5=8O @07=>9 ?@8@>4K 2KO2;5=K 8 G0AB8G=> 70:0@B8@>20=K 2 2>4>=>A=KE 3>@87>=B0E N@K, 35=0 =0 N35 8 N3>- 2>AB>:5 0?04=>- !818@A:>9 ?;8BK. @0=8F0 2K:;8=820=8O 8E ?> ?@>AB8@0=8N ?@52KH05B 1 0 0 0 :<, 0 A0=K A2O70=K A 45OB5;L=>ABLN :@C?=KE 8=D8;LB@0F8>==KE ?>B>:>2, @072820NI8EAO >B ?>4=>68O ;B0O, 0?04=>3> 8 >AB>G=>3> !0O=0.
-?835=5B8G5A:85 87AAB0=>28B5;L=>9 =0?@02;5==>AB8 8G03>2K9 E0@0:B5@ 8 @0728BK 2 G5E;5 4@52=8E ?;0BD>@- C30G52A:>- 2>AB>G=KE A:;>=0E "83> ?>4=OB8O, N3>- 70?04=>9 >:@08=5 ;02=>3> 452>=A:>3> ?>;O =0 CAA:>9 ?;0BD>@3> 0- 70?04=>9 A8=5:;87K 2 G5E;5 !818@A:>9 ?;0BD>@<K.
708A2O7L 2>AAB0=>28B5;L=KE 87=8F05@>4 A ;0B5@0;L=K< 42865=854754 ?@>1;5<0B8G=0. A B0:8< 42865=85< 385 35>;>38 A2O7K20NB 2>AAB0=>2;5=85 @C4>2B;>65=89 2 C@0=>=>A=KE ?0;5>4>;8=0E N6=>9 >:@08=K 0?04=>- !818@A:>9 ?;8BK ( %0;57>2, 2 0 0 3 8 4@. ) . MB>9 A2O78 C:065 ;0B5@0;L=0O 4, >B68<05@>4, 8 >@85=B8@>20==0O 2 =0?@02;5=88 >B =081>;55 ?@>3=CBKE G0AB59 10AA59=>2 : 8E >:@08=076=0 B>;L:> 2 CA;>28OE 2K45@60==KE 8 2KA>:>?@>=8F052KE 3>@87>=B>2. >1;0AB8 65 A>?@O65=8O :>=B8=5=B0;L=KE 8 ?@81@56=>- @A:8E >1@07>20=89, 2 :>B>@>9 =0E>4OBAO 8725AB=K5 @>645=8O, >=0 =5 8=0;L=>3> @0A?@>AB@0=5=8O.
@C4>>1@07>20=88 2 7>=5 38?5@35=570.
A>>B25BAB288 A 7040G0AB02;5==KOI820=8O5=88 7>=K 3CB 1KBL 2K45;5=K B@8 ?>47>=K, E0@0:B5@87CNI85AO @07;8G=>9 9 A?5F80;870F859: 2K25B@820=8O, 3;C1>:>9 F8@:C;OF88 ?>4754 0BAD5@=>3> ?8B0=8O 8 :>=B8=5=B0;L=KE >B;>65=89.
@54?>AK;:8 D>@20=8O @C4>>1@07CNI8E A8AB547>=5 2K25B@820=8O.
;O MB>9 ?>47>=K E0@0:B5@=> 8=B5=A82=>5 2KI5;0G820=85 ;53:>@0AB2>@8<KE M;52 87 3>@=KE ?>@>4, GB> ?@82>48B : :>=F5=B@8@>20=8N B@C4=>@0AB2>@8548=5=89 8 A>740=8N 2 1;03>?@8OB=KE CA;>28OE ?@0:B8G5A:8 F5==KE :>=F5=B@0F89 ?>;57=KE :>=5=B>2 1>30BKE 65;57=KE 8 3> =8:5;O, 1>:A8B>2, :0>;8=>2 8 4@. 284>2 =5@C4=>3> AK@LO. "@C4=>@0AB2>@8<K5 G=8:>< @>645=89 @>AAK?59 2 :>=B8=5=B0;L=KE >B;>65=8OE.
D>@20=88 @0AA<0B@82059 ?>47>=K =0 2K@065==K5 B5=45=F88 ?@5>1@07>20=8O ?>@>4. 4=0 87 =8E A2O70=0 A 2>7459AB285< =0 0;NA8;8:0B=K5 ?>@>4K ?>4754 0BAD5@=>3> ?8B0=8O A ?>2KH5==>9 :8A;>B=>ABLN ( C O 2 87 0BAD5@K; H 2 S O 4 8 4@. 70 AG5B >:8A;5=8O AC;LD84>2, H C l , H F 87 2C;:0=8G5A:8E M:A30;OF89) , GB> >15A?5G8205B 2>2;5G5=85 2 0:B82=CN :>3> :@C30 M;52 S i , A l , T i , C r , V 8 4@.
@C30O - >1CA;>2;5=0 ?@8ACBAB28540E 7>=K 38?5@35=570 0BAD5@=>3> :8A;>@>40, >15A?5G820NI53> A>740=85 2 ?>47>=5 2K25B@820=8O >:8A;8B5;L=>9 >1AB0=>2:8 8 >1@07>20=85 384@>>:8A;>2 8 >:8A;>2 65;570, 0;N<8=8O, <0@30=F0 8 4@. M;52.
@54?>AK;:8 D>@20=8O @C4>>1@07CNI8E A8AB547>=5 3;C1>:>9 F8@:C;OF88 ?>4754 0BAD5@=>3> ?8B0=8O.
=8 A2O70=K A 0:B82870F859 B5:B>=8G5A:>3> @568=B8=5=B0;L=KE 1;>:>2, 2K720==>9 8E 2>74K<0=854754K 0BAD5@=>3> ?8B0=8O ?@>=8:0NB =0 >B=>A8B5;L=> 1>;LH85 3;C18=K ?> @0742830NI8<AO B@5I8=0=01J53> :0B0:;070, ?;0AB04>?@>=8F05@>4, @CA;>2KB;>65=8O2@54>B>:>2 8 4@C3876=K< :0=0;0< <83@0F88 8 ?5@5=B8=5=B0;L=K< 45?@5AA8O=0@=K4>5<04 ?> @0742830NI8<AO B@5I8=0<, 65B A>?@>2>640BLAO >1@07>20=85< F80F89, 2:;NG0NI8E AC;LD84K, 0@A5=84K, >:A84K 8 4@C385 <8=5@0;K. ! @>4A>45@60I8E =>A=KE 2>4 A2O70=> >1@07>20=85 :@C?=KE 8 C=8:0;L=KE C@0=>2KE, C@0=- ?>;8M;5<5=B=KE @>645=89, ;>:0;87>20==KE =0 2K:;8=820=88 7>= 3@C=B>2>3> 8 ?;0AB>2>3> >:8A;5=8O.
$>@20=85 @C4=KE 0AA>F80F89 2 ?>47>=5 :>=B8=5=B0;L=KE >B;>65=89.
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
5:>B>@K5 48A:CAA8>==K5 2>?@>AK 2 ?@>1;51@07>20=89.
5@2K9 2>?@>A A2O70= A M2>;NF859 38?5@35==KE ?@>F5AA>2 2> 2@520B5;8 AG8B0NB, GB> >1@07>20=85 4@52=8E 4>A@54=5?0;5>7>9A:8E :>@ 2K25B@820=8O ?@8=F8?80;L=> =5 >B;8G0;>AL >B >1@07>20=8O 1>;55 ;>4KE 8 2 MB>@0E 2?>;=5 2>76=> 2>7=8:=>25=85, =0?@8<5@, B0:8E @>645=89, :0: 1>:A8BK. ( . . !84>@5=:> 8 53> ?>A;54>20B5;8) . @C30O 3@C??0 CG5=KE ?>;0305B, GB> ?@>F5AAK 8 ?@>4C:BK 38?5@35=570 2 8AB>@88 5 284>87MB><C =5 65B 1KBL 8 @5G8 > ?@>2545=88 0=0;>389 8 ?>8A:>2 2 4>:5<1@88 8 4065 2 =86=57>5 38?5@35==KE @>645=89, 0=0;>38G=KE 8725AB=K;55 ;>4KE A8AB52, @54. , 1 9 9 5 ) . 5B A> @5H5=85 MB>3> 2>?@>A0 84 =0 ?@>3=>78@>20=85 8 ?>8A:8 @>645=89, AD>@20==KE 38?5@35==KF5AA0@>9 2>?@>A A>?@O65= A >F5=:>9 @>;8 M=4>35==KE ?@>F5AA>2 2 D>@20=88 7>=K 38?5@35=570. A>>B25BAB288 A B5@48=0<8G5A:8<8 @0AG5B0;=5==K< ( 1 9 7 7 ) 8 38<8 4@C3820B5;O=5 38?5@35=570 >1=0@C65=K 2 :0G5AB25 =>2>>1@07>20=89 385 F80F88, :>B>@K5 @0=55 AG8B0;8AL >4=>7=0G=> M=4>35==K ?>72>;O5B ?@8 B@0:B>2:5 35=578A0 ?>A;54=8E 2 @O45 A;CG052 4>?CA:0BL >1@07>20=85 B0:8E 0AA>F80F89 2 38?5@35==KE CA;>28OE 8 CG8BK20BL MB> >1AB>OB5;LAB2> ?@8 @07@01>B:5 ?@54?>AK;>: D>@20=8O 8 ?@>3=>7=>- ?>8A:>2KE :@8B5@852 =5:>B>@KE B8?>2 @>645=89, :>B>@K5 AG8B0NBAO B@048F8>==> M=4>35==KB5@<0;L=K 1C45B A?>A>1AB2>20BL ?>2KH5=8N MDD5:B82=>AB8 ?@>3=>7=>- ?>8A:>2KE 8 ?>8A:>2>- >F5=>G=KE @01>B.
"8?K 38?5@35==KE @>645=89
K45;ONBAO H5ABL 3@C?? @>645=89 7>= 38?5@35=570 ( B01;. 1 ) : I >AB0B>G=K5 :>@ 2K25B@820=8O, I I 8=D8;LB@0F8>==K5. I I I - O 3@C??0 2:;NG05B 8=D8;LB@0F8>==K5 @>645=8O A;>6=>3> 35=578A0, AD>@20==K5 A CG0AB85==KE ?@>F5AA>2. B>9 65 3@C??5 ?@8=04;560B 8 =5:>B>@K5 @>645=8O, B@048F8>==> >B=>A8B5
dimplex model silver (sp4)
-
spartherm
danfoss
ipsec
snr
trinity hi-fi
tomb raider
mastercard
braas
8800 gold edition
thuraya
renu multiplus 355
shell
asko
dimplex model silver (sp4)
southpark