ࡱ> `bjbj.| ;P>$h6E  J Rw, `& `0 >1@07>20=8O >AA89A:>9 $545@0F88 ">;8B5E=8G5A:89 C=825@A8B5B #" .: 5:B>@ ">3> ?>;8B5E=8G5A:>3> C=825@A8B5B0 _________________ ...>E>;:>2 _______ _______________ 20013.  ",+ !" " "! "%'! # !"" 0?@02;5=85: 550800 %8;>38O 8 18>B5E=>;>38O !B5?5=L (:20;8D8:0F8O): 10:0;02@ B5E=8:8 8 B5E=>;>388 2>48BAO A <A:  20013. )/ % " !"  / 550800 %8;>38O 8 18>B5E=>;>38O 0?@02;5=85 CB25@645=> ?@8:07>1@07>20=8O >AA89A:>9 $545@0F88 >B 02 ;>388. >@: >A2>5=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<43>B>2:8 10:0;02@0 ?> =0?@02;5=8N 550800  %8;>38O 8 18>B5E=>;>38O ?@8 >G=>9 D>@1CG5=8O  4 3>40. 20;8D8:0F8>==0O E0@0:B5@8AB8:0 2K?CA:=8:0 5AB> =0?@02;5=8O 2 >1;0AB8 B5E=8:8 8 B5E=>;>388. %8;>38O 8 18>B5E=>;>38O 2:;NG05B 2 A51O A>2>:C?=>ABL 4>2, A?>A>1>2 8 A@54AB2 ?>;CG5=8O 25I5AB2 8 A>740=8O 2 A ?>ILN D878G5A:8E, D878:>-E8;>38G5A:8E ?@>F5AA>2. 1J5:BK ?@>D5AA8>=0;L=>9 45OB5;L=>AB8 1J5:B0D5AA8>=0;L=>9 45OB5;L=>AB8 10:0;02@0 ?> =0?@02;5=8N 550800 %8;>38O 8 18>B5E=>;>38O O2;ONBAO: 25I5AB20 8 <0B5@80;K, 4K 8 ?@81>@K >?@545;5=8O A>AB020 8 A2>9AB2 25I5AB2 8 2, >1>@C4>20=85, B5E=>;>38G5A:85 ?@>F5AAK 8 ?@><KH;5==K5 A8AB5;CG5=8O 25I5AB2 8 2, 2:;NG0O C?@02;5=85 820=85, 4K 8 A@54AB20 >F5=:8 A>AB>O=8O >:@C60NI59 A@54K 8 70I8BK 55 >B 2;8O=8O 2@54=>3> 2>7459AB28O 2A5E 284>2 ?@>3> ?@>872>4AB20. 84K ?@>D5AA8>=0;L=>9 45OB5;L=>AB8 2K?CA:=8:0 K?CA:=8: ?> =0?@02;5=8N ?>43>B>2:8 550800 %8;>38O 8 18>B5E=>;>38O ?>43>B>2;5= : 2K?>;=5=8N A;54CNI8E 284>2 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8: =0CG=>-8AA;54>20B5;LA:0O; >@30=870F8>==>-C?@02;5=G5A:0O; ?@>872>4AB25==>-B5E=>;>38G5A:0O. 040G8 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8 2K?CA:=8:0 K?CA:=8: ?> =0?@02;5=8N 550800  %8;>38O 8 18>B5E=>;>38O 2 7028A8AB8 >B 2840 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8 ?>43>B>2;5= : @5H5=8N A;54CNI8E ?@>D5AA8>=0;L=KE 7040G: 0) =0CG=>-8AA;54>20B5;LA:0O 45OB5;L=>ABL: 0=0;87 F5;8, =>287=K, 7040G8 8AA;54>20=89 2 ?>AB02;5==>=:@5B=>?@>A5 =0 >A=>25 ?>41>@0 ;8B5@0BC@K 8 ?0B5=B=>3> ?>8A:0; ?;0=8@>20=85 =0CG=KE 8AA;54>20=89 2 >1;0AB8 A8=B570 =>2KE 25I5AB2 8 2; ?>8A: @07@01>B:8 =>2KE ?@>F5AA>2 E89 B5E=>;>388 8 18>B5E=>;>388; ?@>2545=85 M:A?5@89 @01>BK ?> A>740=8N =>2KE 2, B5E=>;>388, 8A?KB0=8O, >1>@C4>20=8O; 45;8@>20=85 8 >?B8872>4AB25==KE ?@>F5AA>2; >?@545;5=85 8 0=0;87 A2>9AB2 8A?>;L7C5;CG05<KE 25I5AB2 8 E8<8G5A:8E 2; A>AB02;5=85 >?8A0=89 ?@>2>4820=89, @07@010BK205;>389, :>=:@5B=KE 2K2>4>2, @5H5=89 : ?>43>B>2:5 40==KE 4;O >BG5B>2, >17>@>2 8 8=>9 =0CG=>9 8 B5E=8G5A:>9 4>:CD>@;L7>20=85@30=870F8>==>-C?@02;5=G5A:0O: CG0AB85 2 =B065, =0;04:5 B5E=>;>38G5A:8E ?@>872>4AB2 E84C:B>2; =02K:8 M:A?;C0B0F88 459AB2CNI8E CAB0=>2>:; :>=B@>;L :0G5AB20 AK@LO 2A?>30B5;L=KE 2 8 ?@>4C:F88; CG0AB85 2 2K@01>B:5 B5E=>;>38G5A:8E @5H5=89 ?> >@30=870F88 8 A>25@H5=AB2>20=8N ?@>872>4AB2; 0=0;87 B5E=>;>38G5A:8E AE5;>38G5A:8E ?0@02; ?@>2545=85 -B5E=8G5A:8E @0AG5B>2; 2) ?@>872>4AB25==>-B5E=>;>38G5A:0O: CG0AB85 2 >@30=870F88 ?@>872>4AB25==KE :>;;5:B82>2; CG0AB85 2 @07@01>B:5 4>2 M:A?;C0B0F88 >1>@C4>20=8O, 7040G ?> @5=BC >1>@C4>20=8O, CG0AB85 2 >1A;C6820=88 :>=B@>;L=>-8A?KB0B5;L=KE :>2; CG0AB85 2 @0AG5B5 ?>:070B5;59 M:>=>9 MDD5:B82=>AB8 8 >F5=:5 @07;8G=KE B5E=>;>38G5A:8E 20@80=B>2; CG0AB85 2 @07@01>B:5 8 @50;870F88 B5E=>;>38G5A:8E  >E@0=5 >:@C60NI59 A@54K, A>AB02;5=88 M:>;>38G5A:>3> ?0A?>@B0 ?@>872>4AB20. 20;8D8:0F8>==K5 B@51>20=8O ;O @5H5=8O ?@>D5AA8>=0;L=KE 7040G 10:0;02@: 87CG05B A?5F80;L=CN ;8B5@0BC@C 8 4@C3CN =0CG=>-B5E=8G5A:CN 8=D>@AB865=8O >B5G5AB25==>9 8 70@C156=>9 =0C:8 8 B5E=8:8 2 >1;0AB8 E89 B5E=>;>388 8 18>B5E=>;>388; CG0AB2C5B 2 ?@>2545=88 =0CG=KE 8AA;54>20=89 8;8 2K?>;=5=88 B5E=8G5A:8E @07@01>B>:; >ACI5AB2;O5B A1>@, >1@01>B:C, 0=0;87 8 A8AB5-B5E=8G5A:>9 8=D>@ B5<5 (7040=8N); ?@8=82KE 8 ?@>?KB=KE >1@07F>2 (?0@B89) 2 8 B5E=8G5A:>3> >1>@C4>20=8O E89 B5E=>;>388 B 18>B5E=>;>388; A>AB02;O5B >BG5BK (@0745;K >BG5B0) ?> B5 2=54@5=88 @57C;LB0B>2 8AA;54>20=89 8 @07@01>B>:. >76=>ABL ?@>4>;65=8O >1@07>20=8O 0:0;02@ ?>43>B>2;5= : ?@>4>;65=8N >1@07>20=8O 2  =0?@02;5=8N: 550800 %8;>38O 8 18>B5E=>;>38O 550800  E8;>38O ?@>4C:B>2 >A=>2=>3> >@30=8G5A:>3> 8 =5DB5E83> A8=B570; 550802  E8;>38O ?@>4C:B>2 B>=:>3> >@30=8G5A:>3> A8=B570; 550804  E8;>38O =5>@30=8G5A:8E 25I5AB2 8 2; 550805  M;5:B@>E8F5AAK 8 ?@>872>4AB20; 550809  E8;>38O B>?;820 8 3070; 550810  E8;>38O 2KA>:>;5:C;O@=KE A>548=5=89; 550820  ?@>F5AAK 8 0??0@0BK E89 B5E=>;>388; 550821  8=D>@==K5 A8AB5<K 2 E89 B5E=>;>388 8 18>B5E=>;>388; 550828  E8;>38O 18>;>38G5A:8 0:B82=KE 25I5AB2; 550831  E8;>38O BC3>?;02:8E =5<5B0;;8G5A:8E 8 A8;8:0B=KE 2; >A2>5=8N 2 A>:@0I5==K5 A@>:8 >A=>2=KE >1@07>20B5;L=KE ?@>3@0< =0?@02;5=8O43>B>2:8 48?;>20==>3> A?5F80;8AB0: 654900  E8;>38O =5>@30=8G5A:8E 25I5AB2 8 2; 655000  E8;>38O >@30=8G5A:8E 25I5AB2 8 B>?;820; 655100  E8;>38O 2KA>:>;5:C;O@=KE A>548=5=89 8 ?>;8<5@=KE 2; 655400  M=5@3>-8 @5AAC@A>A15@530NI85 ?@>F5AAK 2 E89 B5E=>;>388, =5DB5E8B5E=>;>388; 655500  18>B5E=>;>38O. 2. "   # . " "# " @54H5AB2CNI89 C@>25=L >1@07>20=8O 018BC@85=B0  A@54=55 (?>;=>5) >1I55 >1@07>20=85. 18BC@85=B 4>;65= 8:CAC40@AB25==>3> >1@07F0 > A@54=5;=>1I51@07>20=88, 8;8 A@54=5D5AA8>=0;L=>1@07>20=88, 8;8 =0G0;L=>D5AA8>=0;L=>1@07>20=88 5A;8 2 =5< 8 ?>;CG5=88 ?@54JO28B5;5 (?>;=>3>) >1I53> >1@07>20=8O, 8;8 2KAH5D5AA8>=0;L=>1@07>20=88. ) " /  !  ",    "     . A=>2=0O >1@07>20B5;L=0O ?@>3@0<43>B>2:8 10:0;02@0 @07@010BK205BAO =0 >A=>20=88 =0AB>OI53> >1@07>20B5;L=>3> AB0=40@B0 8 2:;NG05B 2 A51O CG51=K9 ?;0=, ?@>3@0<3@0<872>4AB25==KE ?@0:B8:. "@51>20=8O : >1O70B5;L=><C <8=8<C45@60=8O >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<43>B>2:8 10:0;02@0 : CA;>28O:>A2>5=8O >?@545;ONBAO =0AB>OI81@07>20B5;L=K2=0O >1@07>20B5;L=0O ?@>3@0<43>B>2:8 10:0;02@0 A>AB>8B 87 48AF8?;8= D545@0;L=>3> :>=5=B0, 48AF8?;8= =0F8>=0;L=>-@538>=0;L=>3> (2C7>2A:>3>) :>=5=B0, 48AF8?;8= ?> 2K1>@C ABC45=B0, 0 B0:65 D0:C;LB0B82=KE 48AF8?;8=. 8AF8?;8=K 8 :C@AK ?> 2K1>@C ABC45=B0 2 :064>;6=K A>45@60B5;L=> 4>?>;=OBL 48AF8?;8=K, C:070==K5 2 D545@0;L=>=5=B5 F8:;0. A=>2=0O >1@07>20B5;L=0O ?@>3@0<43>B>2:8 10:0;02@0 ?@54CA2 48AF8?;8= 8 8B>3>2CN 3>AC40@AB25==CN 0BB5AB0F8N: F8:; !-  >1I85 3CF80;L=>-M:>=>1I85 <0B5=0CG=K5 48AF8?;8=K; F8:;   >1I5?@>D5AA8>=0;L=K5 48AF8?;8=K =0?@02;5=8O; F8:; ! - A?5F80;L=K5 48AF8?;8=K; $" - D0:C;LB0B82K. !>45@60=85 =0F8>=0;L=>-@538>=0;L=>3> :>=5=B0 >A=>2=>9 >1@07>20B5;L=>9 ?@>3@0<43>B>2:8 10:0;02@0 4>;6=> >15A?5G8BL ?>43>B>2:C 10:0;02@0 2 A>>B25BAB288 A :20;8D8:0F8>==>9 E0@0:B5@8AB8:>9, CAB0=>2;5==>9 =0AB>OI81@07>20B5;L=K<. " /  /",# ## ! / !  ",   + "     . 550800 - %8;>38O 8 18>B5E=>;>38O =45:A0820=85 48AF8?;8= 8 8E >A=>2=K5 @0745;K A53> G0A>2 1  2 3 !-1I85 3CF80;L=>-M:>=>=5=B 1710!-.$.01=>AB@0==K9 O7K:: A?5F8D8:0 0@B8:C;OF88 72C:>2, 8=B>=0F88, 0:F5=BC0F88 8 @8B9 @5G8 2 87CG05A=>2=K5 >A>15==>AB8 ?>;=>3> AB8;O ?@>87=>H5=8O, E0@0:B5@=K5 4;O AD5@K ?@>D5AA8>=0;L=>9 :><<C=8:0F88; GB5=85 B@0=A:@8?F88; ;5:A8G5A:89 <8=8<C1J51I53> 8 B5@;>38G5A:>3> E0@0:B5@0; ?>=OB85 48DD5@5=F80F88 ;5:A8:8 ?> AD5@0< ?@820O, B5@;>38G5A:0O, >1I5=0CG=0O, >D8F80;L=0O 8 4@C30O); ?>=OB85 > A2>1>4=KE 8 CAB>9G82KE A;>2>A>G5B0=8OE, D@075>;>38G5A:8E 548=8F0E. ?>=OB85 >1 >A=>2=KE A?>A>10E A;>2>>1@07>20=8O; 3@0<15A?5G820NI85 :><1I53> E0@0:B5@0 157 8A:065=8O A<KA;0 ?@8 ?8AL1I5=88; >A=>2=K5 3@0<D5AA8>=0;L=>9 @5G8; ?>=OB85 >1 >18E>4=>-;8B5@0BC@=>D8F80;L=>-45;>2>65AB25==>9 ;8B5@0BC@K; >A=>2=K5 >A>15==>AB8 =0CG=>3> AB8;O; :C;LBC@0 8 B@048F88 AB@0= 87CG053> O7K:0, ?@028;0 @5G52>3> MB8:5B0; 3>2>@5=85; 480;>38G5A:0O 8 =>;>38G5A:0O @5GL A 8A?>;L7>20=85;55 C?>B@518B5;L=KE 8 >B=>A8B5;L=> ?@>ABKE ;5:A8:>-3@0<A=>2=KE :><D8F80;L=>3> 8 >D8F80;L=>3> >1I5=8O; >A=>2K ?C1;8G=>9 @5G8 (CAB=>5 A>>1I5=85, 4>:;04); 0C48@>20=85; ?>=838G5A:>9 8 =>;>38G5A:>9 @5G8 2 AD5@5 1KB>2>9 8 ?@>D5AA8>=0;L=>9 :><2: =5A;>6=K5 ?@03 H8@>:>D8;N A?5F80;L=>AB8; ?8AL; 284K @5G52KE ?@>872545=89: 0==>B0F8O, @5D5@0B, B578AK, A>>1I5=8O, G0AB=>5 ?8AL, 45;>2>5 ?8AL, 18>3@0D8O. 538>=0;L=K9 8 C=825@A8B5BA:89 :>=5=BK: 87CG5=85 8=>AB@0==>3> =0 C@>2=5 4=KE AB0=40@B>2 (H:>;0 !>25B0 2@>?K, A5@B8D8:0BK UCLES), 70:@5?;5=85 ?@>3@0<;K, 22545=85 =>2>3> ;5:A8G5A:>3> 1E>483> 4;O >1I5=8O 2 ?>2A54=52=>-1KB>2>9, A>F8>:C;LBC@=>9, ?@>D5AA8>=0;L=>9 8 4@. AD5@ >1I5=8O. 0728B85 C 2A5E 2840E @5G52>9 45OB5;L=>AB8 =0 C@>2=5 4=KE AB0=40@B>2. C@A ?@>D5AA8>=0;L=>->@85=B8@>20==>3> O7K:0 (TSP), :C@A >A=>2 45;>2>3> O7K:0, 45;>2>3> >1I5=8O 8 45;>2>9 :>@@5A?>=45=F88, :C@A>2 >A=>2 O7K:0 :>2, :C@A =0CG=>-B5E=8G5A:>3> ?5@52>40. C@A ?> ?>43>B>2:8 : A40G5 M:702 =0 ?>;CG5=85 4=KE A5@B8D8:0B>2.  350!-.$.02$878G5A:0O :C;LBC@0: D878G5A:0O :C;LBC@0 2 >1I5:C;LBC@=>9 8 ?@>D5AA8>=0;L=>9 ?>43>B>2:5 ABC45=B>2; 55 A>F80;L=>-18>;>38G5A:85 >A=>2K; D878G5A:0O :C;LBC@0 8 A?>@B :0: A>F80;L=K5 D5=>1I5AB20; 70:>=>40B5;LAB2> >AA89A:>9 $545@0F88 > D878G5A:>9 :C;LBC@5 8 A?>@B5; 878G5A:0O :C;LBC@0 ;8G=>AB8; >A=>2K 74>@>2>3> >1@070 687=8 ABC45=B0; >A>15==>AB8 8A?>;L7>20=8O A@54AB2 D878G5A:>9 :C;LBC@K 4;O >?B8B>A?>A>1=>AB8; >1I0O D878G5A:0O 8 A?5F80;L=0O ?>43>B>2:0 2 A8AB53> 2>A?8B0=8O; A?>@B; 8=48284C0;L=K9 2K1>@ 284>2 A?>@B0 8;8 A8AB5D5AA8>=0;L=>-?@8:;04=0O D878G5A:0O ?>43>B>2:0 ABC45=B>2; >A=>2K 48:8 A0AB>OB5;L=KE 70=OB89 8 A0:>=B@>;L 70 A>AB>O=8553> >@30=87=0;L=K9 8 C=825@A8B5BA:89 :>=5=BK: ?@8>@8B5B=K5 284K A?>@B0 2 CA;>28OE @57:> :>=B8=5=B0;L=>3> :;89 !818@8.  420!-.$.03$8;>A>D8O: ?@54A>D88;  8 @>;L D8;>A>D88 2 :C;LBC@5; AB0=>2;5=85 D8;>A>D88; >A=>2=K5 =0?@02;5=8O, H:>;K D8;>A>D88 8 MB0?K 55 8AB>@8G5A:>3> @0728B8O; AB@C:BC@0 D8;>A>DA:>3> 7=0=8O; CG5=85 > 1KB88; =8AB8G5A:85 8 ?;N@0AB8G5A:85 :>=F5?F88 1KB8O; A0>@30=870F8O 1KB8O; ?>=OB8O 3> 8 8450;L=>3>; ?@>AB@0=AB2>; 2@5<O, 42865=85 8 @0728B85, 480;5:B8:0; 45B5@<8=87< 8 8=45B5@<8=87<; 48=0=>AB8; =0CG=K5, D8;>A>DA:85 8 @5;838>7=K5 :0@B8=K 25:, >1I5AB2>, :C;LBC@0; G5;>25: 8 ?@8@>40; >1I5AB2> 8 53> AB@C:BC@0; 3@0640=A:>5 >1I5AB2> 8 3>AC40@AB2>; G5;>25: 2 A8AB5F80;L=KE A2O759; G5;>25: 8 8AB>@8G5A:89 ?@>F5AA: ;8G=>ABL 8 1>40 8 =5>1E>48ABL; D>@==0O 8 F828;870F8>==0O :>=F5?F88 >1I5AB25==>3> @0728B8O; A25G5A:>3> 1KB8O; =0A8;85 8 =5=0A8;85; A2>1>40 8 >B25BAB25==>ABL; @0;L, A?@0254;82>ABL, ?@02>; =@02AB25==K5 F5==>AB8; ?@54AB02;5=8O > A>25@H5==>25:5 2 @07;8G=KE :C;LBC@0E; MAB5B8G5A:85 F5==>AB8 8 8E @>;L 2 G5;>25G5A:>9 687=8; @5;838>7=K5 F5==>AB8 8 A2>1>40 A>25AB8; A>7=0=85 8 ?>7=0=85, A>7=0=85, A0A>7=0=85 8 ;8G=>ABL; ?>7=0=85, B2>@G5AB2>, ?@0:B8:0; 25@0 8 7=0=85; ?>=81JOA=5=85; @0F8>=0;L=>5 8 8@@0F8>=0;L=>5 2 ?>7=020B5;L=>9 45OB5;L=>AB8; ?@>1;5ABL, 38:0 8 O7K:; =0CG=>5 8 2=5=0CG=>5 7=0=85; :@8B5@88 =0CG=>AB8; AB@C:BC@0 =0CG=>3> ?>7=0=8O, 53> 4K 8 D>@AB =0CG=>3> 7=0=8O; =0CG=K5 @52>;NF88 8 A2 @0F8>=0;L=>AB8; =0C:0 8 B5E=8:0; 1C4CI55 G5;>25G5AB20; 3;>10;L=K5 ?@>1;52@5AB8; 2708459AB285 F828;870F89 8 AF5=0@88 1C4CI53>.  136!-.$.04B5G5AB25==0O 8AB>@8O: ACI=>ABL, D>@@8G5A:>3> 7=0=8O; 4K 8 8AB>G=8:8 87CG5=8O 8AB>@88; ?>=OB85 8 :;0AA8D8:0F8O 8AB>@8G5A:>3> 8AB>G=8:0; >B5G5AB25==0O 8AB>@8>3@0D8O 2 ?@>H;>OI51I55 8 >A>15==>5; 4>;>38O 8 B5>@8O 8AB>@8G5A:>9 =0C:8; 8AB>@8O >AA88  =5>BJ5<;5<0O G0ABL 2A59 8AB>@88; 0=B8G=>5 =0A;5485 2 M?>EC 5;8:>3> ?5@5A5;5=8O =0@>4>2; ?@>1;535=570 2>AB>G=KE A;02O=; >A=>2=K5 MB0?K AB0=>2;5=8O 3>AC40@AB25==>AB8; 4@52=OO CAL 8 :>G52=8:8; 2870=B89A:>-4@52=5@CAA:85 A2O78; >A>15==>AB8 A>F80;L=>3> AB@>O @52=59 CA8; MB=>:C;LBC@=K5 8 A>F80;L=>-?>;8B8G5A:85 ?@>F5AAK AB0=>2;5=8O @CAA:>9 3>AC40@AB25==>AB8; ?@8=OB85 E@8AB80=AB20; @0A?@>AB@0=5=85 8A;0;NF8O 2>AB>G=>A;02O=A:>9 3>AC40@AB25==>AB8 2 %1 %22.; A>F80;L=>  ?>;8B8G5A:85 87<5=5=8O 2 @CAA:8E 751;5<K 27082;8O=8O; >AA8O 8 A@54=525:>2K5 3>AC40@AB20 2@>?K 8 788; A?5F8D8:0 D>@20=8O 548=>3> @>AA89A:>3> 3>AC40@AB20; 2>72KH5=85 >A:2K; D>@20=85 A>A;>2=>9 A8AB5@30=870F88 >1I5AB20; @5D>@AK;:8 8 >A>15==>AB8 A:;04K20=8O @>AA89A:>3> 01A>;NB87 35=578A5 A045@6028O; >A>15==>AB8 8 >A=>2=K5 MB0?K M:>=>3> @0728B8O >AA88; M2>;NF8O D>@1AB25==>AB8 =0 7540;L=>3> 75AB=>5 ?@02> 2 >AA88; -?@>5 ?@>872>4AB2>; AB0=>2;5=85 8=4CAB@80;L=>3> >1I5AB20 2 >AA88: >1I55 8 >A>15==>5; >1I5AB25==0O A>15==>AB8 >1I5AB25==>3> 42865=8O >AA88 %1% 2.; @5D>@@@K 2 >AA88; @CAA:0O :C;LBC@0 %1% 25:0 8 55 2:;04 2 2CN :C;LBC@C; @>;L %% AB>;5B8O 2 2>9 8AB>@88; 3;>10;870F8O >1I5AB25==KE ?@>F5AA>2; ?@>1;5=>3> @>AB0 8 45@=870F88; @52>;NF88 8 @5D>@F80;L=0O B@0=AD>@1I5AB20; AB>;:=>25=85 B5=45=F89 8=B5@=0F8>=0;87=0;87<0, 8=B53@0F88 8 A5?0@0B87<0, 45:@0B88 8 02B>@8B0@87AA8O 2 =0G0;5 %% 2.; >1J5:B82=0O ?>B@51=>ABL 8=4CAB@80;L=>9 45@=870F88 >AA88; @>AA89A:85 @5D>@=B5:AB5 >1I52>3> @0728B8O 2 =0G0;5 25:0; ?>;8B8G5A:85 ?0@B88 >AA88: 35=578A, :;0AA8D8:0F8O, ?@>3@0<AA8O 2 CA;>28OE 2>9 2>9=K 8 >1I5=0F8>=0;L=>3> :@878A0; @52>;NF8O 1917 3.; 3@0640=A:0O 2>9=0 8 8=B5@25=F8O; 8E @57C;LB0BK 8 ?>A;54AB28O; @>AA89A:0O MF80;L=> -M:>=>5 @0728B85 AB@0=K 2 20 5 33.; -; D>@20=85 >4=>?0@B89=>3> ?>;8B8G5A:>3> @5681@07>20=85 !!! ; :C;LBC@=0O 687=L AB@0=K 2 20-5 33.; 2=5H=OO ?>;8B8:0; :C@A =0 AB@>8B5;LAB2> A>F80;874=>9 AB@0=5 8 53> ?>A;54AB28O; A>F80;L=>-M:>=>1@07>20=8O 2 30-5 33.; CA8;5=85 @5689 2;0AB8 !B0;8=0; A>?@>B82;5=85 AB0;8=874 2B>@>9 2>9 2>9=K; 5;8:0O B5G5AB25==0O 2>9=0; A>F80;L=>-M:>=>5 @0728B85; >1I5AB25==>-?>;8B8G5A:0O 687=L; :C;LBC@0; 2=5H=OO ?>;8B8:0 !!!  2 ?>A;52>5==K5 3>4K; E>;>4=0O 2>9=0; ?>?KB:8 >ACI5AB2;5=8O ?>;8B8G5A:8E 8 M:>=>@4 >1I5AB25==>3> @0728B8O; !!!  2 A5@548=5 60-80-E 33.: =0@0AB0=85 :@878A=KE O2;5=89; !>25BA:89 !>N7 2 1985  1991 33.; ?5@5AB@>9:0; ?>?KB:0 3>AC40@AB25==>3> ?5@52>@>B0 1991 3. 8 55 ?@>20;; @0A?04 !!! ; 5;>256A:85 A>3;0H5=8O; >:BO1@LA:85 A>1KB8O 1993 3.; AB0=>2;5=85 =>2>9 @>AA89A:>9 3>AC40@AB25==>AB8 (1993 -1999 33.); >AA8O =0 ?CB8 @048:0;L=>9 A>F80;L=>- M:>=>9 45@=870F88; :C;LBC@0 2 A>2@59 >AA88; 2=5H=5?>;8B8G5A:0O 45OB5;L=>ABL 2 CA;>28OE =>2>9 35>?>;8B8G5A:>9 A8BC0F88. 538>=0;L=K9 :>=5=B: MB=>35=57 A;02O=; MB=>35=57 A818@O:>2; >A>15==>AB8 8AB>@8G5A:>3> @0728B8O !818@8. #=825@A8B5BA:89 :>=5=B: 8AB>@8O B5E=8G5A:>3> >1@07>20=8O 2 !818@8 8 @0728B85 =0C:8. >;L CG5=KE ">3> ?>;8B5E=8G5A:>3> C=825@A8B5B0 2 AB0=>2;5=88 M:>=>AA88.  144!-.$.05C;LBC@>;>38O: AB@C:BC@0 8 A>AB02 A>2@53> :C;LBC@>;>38G5A:>3> 7=0=8O; :C;LBC@>;>38O 8 D8;>A>D8O :C;LBC@K, A>F8>;>38O :C;LBC@K, :C;LBC@=0O 0=B@>?>;>38O; :C;LBC@>;>38O 8 8AB>@8O :C;LBC@K; B5>@5B8G5A:0O 8 ?@8:;04=0O :C;LBC@>;>38O; 4K :C;LBC@>;>38G5A:8E 8AA;54>20=89; >A=>2=K5 ?>=OB8O :C;LBC@>;>388: :C;LBC@0, F828;870F8O, @D>;>38O :C;LBC@K, DC=:F88 :C;LBC@K, AC1J5:B :C;LBC@K, :C;LBC@>35=57, 48=0<8:0 :C;LBC@K, O7K: 8 A8;K :C;LBC@K, :C;LBC@=K5 :>4K, <AB8 8 =>@<K, :C;LBC@=K5 B@048F88, :C;LBC@=0O :0@B8=0 F80;L=K5 8=AB8BCBK :C;LBC@K, :C;LBC@=0O A0845=B8G=>ABL, :C;LBC@=0O 45@=870F8O; B8?>;>38O :C;LBC@; MB=8G5A:0O 8 =0F8>=0;L=0O, M;8B0@=0O 8 20O :C;LBC@K; 2>AB>G=K5 8 70?04=K5 B8?K :C;LBC@; A?5F8D8G5A:85 8 "A5@548==K5" :C;LBC@K; ;>:0;L=K5 :C;LBC@K;  8 @>;L >AA88 2 2>9 :C;LBC@5; B5=45=F88 :C;LBC@=>9 C=825@A0;870F88 2 2>2@5F5AA5; :C;LBC@0 8 ?@8@>40; :C;LBC@0 8 >1I5AB2>; :C;LBC@0 8 3;>10;L=K5 ?@>1;52@5AB8; :C;LBC@0 8 ;8G=>ABL; 8=:C;LBC@0F8O 8 A>F80;870F8O. 538>=0;L=K9 :>=5=B: 2>AB>: 8 0?04 :0: 8450;L=K5 B8?K 2>9 :C;LBC@K. @>1;5-8AB>@8G5A:85 M?>E8, >A=>2=K5 B5=45=F88 A>F80;L=>3>, :C;LBC@=>3>, A>2@53> @0728B8O @538>=0. #=825@A8B5BA:89 :>=5=B: ?5@5E>4 >B :C;LBC@K 8=4CAB@80;L=>3> >1I5AB20 : :C;LBC@5 ?>AB8=4CAB@80;L=>3> >1I5AB20 (A>740=85 8=B5;;5:BC0;L=KE B5E=>;>389, D>@20=85 :;0AA0 ?@>872>48B5;59 =>2>3> 7=0=8O, @52>;NF8O A2>1>4=>3> 2@51;59 :C;LBC@K, A?5F8D8:0 AB8 @CAA:>3> B8?0; A?5F8D8:0 :C;LBC@K A818@A:>3> MB=>A0. 136!-.$.06>;8B>;>38O: >1J5:B, ?@54<5B 8 4 ?>;8B8G5A:>9 =0C:8; DC=:F88 ?>;8B>;>388; ?>;8B8G5A:0O 687=L 8 2;0AB=K5 >B=>H5=8O; @>;L 8  ?>;8B8:8 2 687=8 A>2@51I5AB2; A>F80;L=K5 DC=:F88 ?>;8B8:8; 8AB>@8O ?>;8B8G5A:8E CG5=89; @>AA89A:0O ?>;8B8G5A:0O B@048F8O: 8AB>:8, A>F8>:C;LBC@=K5 >A=>20=8O, 8AB>@8G5A:0O 48=02@5;8B>;>38G5A:85H:>;K; 3@0640=A:>5 >1I5AB2>, 53> ?@>8AE>645=85 8 >A>15==>AB8; >A>15==>AB8 AB0=>2;5=8O3@0640=A:>3> >1I5AB20 2 >AA88; 8=AB8BCF8>=0;L=K5 0A?5:BK ?>;8B8:8; ?>;8B8G5A:0O 2;0ABL; ?>;8B8G5A:0O A8AB5;8B8G5A:85 @568;8B8G5A:85 ?0@B88, M;5:B>@0;L=K5 A8AB5;8B8G5A:85 >B=>H5=8O 8 ?@>F5AAK; ?>;8B8G5A:85 :>=D;8:BK 8 A?>A>1K 8E @07@5H5=8O. >;8B8G5A:85 B5E=>;>388; ?>;8B8G5A:89 <5=546;8B8G5A:0O 45@=870F8O; ?>;8B8G5A:85 >@30=870F88 8 42865=8O; ?>;8B8G5A:85 M;8BK; ?>;8B8G5A:>5 ;845@AB2>; A>F8>:C;LBC@=K5 0A?5:BK ?>;8B8:8; 20O ?>;8B8:0 8 4=K5 >B=>H5=8O; >A>15==>AB8 2>3> ?>;8B8G5A:>3> ?@>F5AA0;=0F8>=0;L=>-3>AC40@AB25==K5 8=B5@5AK >AA88 2 =>2>9 35>?>;8B8G5A:>9 A8BC0F88; 4>;>38O ?>7=0=8O ?>;8B8G5A:>9 @50;L=>AB8; ?0@0483;8B8G5A:>3> 7=0=8O; M:A?5@B=>5 ?>;8B8G5A:>5 7=0=85; ?>;8B8G5A:0O 0=0;8B8:0 8 ?@>3=>AB8:0. 538>=0;L=K9 :>=5=B: =0F8>=0;L=> 3>AC40@AB25==0O ?>;8B8:0 >AA88 2 0?04=>9 8 >AB>G=>9 !818@8.  68!-.$.07@02>2545=85: 3>AC40@AB2> 8 ?@02>; 8E @>;L 2 687=8 >1I5AB20; =>@@-?@02>2K5 0:BK; >A=>2=K5 ?@02>2K5 A8AB52@5AB8; 4=>5 ?@02> :0: >A>10O A8AB5G=8:8 @>AA89A:>3> ?@020; 70:>= 8 ?>470:>==K5 0:BK; A8AB5AA89A:>3> ?@020; >B@0A;8 ?@020; ?@02>=0@CH5=85 8 N@848G5A:0O >B25BAB25==>ABL; 7=0G5=85 70:>==>AB8 8 ?@02>?>@O4:0 2 A>2@51I5AB25; ?@02>2>5 3>AC40@AB2>; >=AB8BCF8O >AA89A:>9 $545@0F88 - >A=>2=>9 70:>= 3>AC40@AB20; >A>15==>AB8 D545@0B82=>3> CAB@>9AB20 >AA88; A8AB5@30=>2 3>AC40@AB25==>9 2;0AB8 2 >AA89A:>9 $545@0F88; ?>=OB85 3@0640=A:>3> ?@02>>B=>H5=8O; D878G5A:85 8 N@848G5A:85 ;8F0. @02> A>1AB25==>AB8; >1O70B5;LAB20 2 3@0640=A:>B25BAB25==>ABL 70 8E =0@CH5=85; =0A;54AB25==>5 ?@02>; 1@0G=>-A5B=>H5=8O; 27081O70==>AB8 AC?@C3>2, @>48B5;59 8 45B59; >B25BAB25==>ABL ?> A52>9 4>3>2>@ (:>=B@0:B); B@C4>20O 48AF8?;8=0 8 >B25BAB25==>ABL 70 55 =0@CH5=85; 04=0@CH5=8O 8 04B25BAB25==>ABL; ?>=OB85 ?@5ABC?;5=8O; C3>;>2=0O >B25BAB25==>ABL 70 A>25@H5=85 ?@5ABC?;5=89; M:>;>38G5A:>5 ?@02>; >A>15==>AB8 ?@02>2>3> @53C;8@>20=8O 1C4CI59 ?@>D5AA8>=0;L=>9 45OB5;L=>AB8; ?@02>2K5 >A=>2K 70I8BK 3>AC40@AB25==>9 B09=K; 70:>=>40B5;L=K5 8 =>@-?@02>2K5 0:BK 2 >1;0AB8 70I8BK 8=D>@AC40@AB25==>9 B09=K. 538>=0;L=K9 8 C=825@A8B5BA:89 :>=5=BK: ?@02>2K5 >A=>2K !818@A:>3> A>3;0H5=8O; CAB02 8 4@C385 =>@:CF8>;>38O: ?@54KAB>@8O 8 A>F80;L=>-D8;>A>DA:85 ?@54?>AK;:8 A>F8>;>388 :0: =0C:8; A>F8>;>38G5A:89 ?@>5:B .>=B0; :;0AA8G5A:85 A>F8>;>38G5A:85 B5>@88; A>2@5F8>;>38G5A:85 B5>@88; @CAA:0O A>F8>;>38G5A:0O 1I5AB2> 8 A>F80;L=K5 8=AB8BCBK; 20O A8AB5F5AAK 3;>10;870F88; A>F80;L=K5 3@C??K 8 >1I=>AB8; 284K >1I=>AB59; >1I=>ABL 8 ;8G=>ABL; ;;5:B82K; A>F80;L=0O >@30=870F8O; A>F80;L=K5 42865=8O; A>F80;L=>5 =5@025=AB2>, AB@0B8D8:0F8O 8 A>F80;L=0O 18;L=>ABL; ?>=OB85 A>F80;L=>3> AB0BCA0; A>F80;L=>5 2708459AB285 8 A>F80;L=K5 >B=>H5=8O; >1I5AB25==>5 3> >1I5AB20; :C;LBC@0 :0: D0:B>@ A>F80;L=KE 87<5=5=89; 2708459AB285 M:>=>F80;L=KE >B=>H5=89 8 :C;LBC@K; ;8G=>ABL :0: A>F80;L=K9 B8?; A>F80;L=K9 :>=B@>;L 845280F8O; ;8G=>ABL :0: 45OB5;L=K9 AC1J5:B;A>F80;L=K5 87F80;L=K5 @52>;NF88 8 @5D>@=F5?F8O A>F80;L=>3> ?@>3@5AA0; D>@20=85 2>9A8AB5<K;  >AA88 2 2>>1I5AB25; 4K A>F8>;>38G5A:>3> 8AA;54>20=8O. 538>=0;L=K9 8 C=825@A8B5BA:89 :>=5=BK: >A>15==>AB8 A>F80;L=>-:C;LBC@=>3> @0728B8O !818@A:>3> @538>=0 8 >;8B5E=8G5A:>3> C=825@A8B5B0. 64!-.$.09-:>=>=>@8N; 1;030, ?>B@51=>AB8, @5AC@AK, M:>=>@; M:>=>B=>H5=8O; M:>=><8G5A:85 A8AB5A=>2=K5 MB0?K @0728B8O M:>=>9 B5>@88; 4K M:>=>9 B5>@88; M:>=>:; A?@>A 8 ?@54;>65=85; ?>B@518B5;LA:85 ?@54?>GB5=8O 8 ?@545;L=0O ?>;57=>ABL; D0:B>@K A?@>A0; 8=48284C0;L=K9 8 @K=>G=K9 A?@>A; MDD5:B 4>E>40 8 MDD5:B 70ABL; ?@54;>65=85 8 53> D0:B>@K; 70:>= C1K20NI59 ?@545;L=>9 ?@>872>48B5;L=>AB8; MDD5:B <0AHB010; 284K 8745@65:; D8@<0; 2K@CG:0 8 ?@81K;L; ?@8=F8? <0:A865=85 A>25@H5==> :>=:@5B=>9 D8@B@0A;8; MDD5:B82=>ABL :>=:C@5=B=KE @K=:>2; @K=>G=0O 2;0ABL; =>?>;8O; =>?>;8AB8G5A:0O :>=:C@5=F8O; >;83>?>;8O; 0=B8=>?>;L=>5 @53C;8@>20=85; A?@>A =0 D0:B>@K ?@>872>4AB20; @K=>: B@C40; A?@>A 8 ?@54;>65=85 B@C40; 70@01>B=0O ?;0B0 8 70=OB>ABL; @K=>: :0?8B0;0; ?@>F5=B=0O AB02:0 8 8=25AB8F88; @K=>: 751I55 @02=>25A85 8 1;03>A>AB>O=85; @0A?@545;5=85 4>E>4>2; =5@025=AB2>; 2=5H=85 MDD5:BK 8 >1I5AB25==K5 1;030; @>;L 3>AC40@AB20; 0:@>M:>=>=0;L=0O M:>=>5; :@C3>2>@>B 4>E>4>2 8 ?@>4C:B>2;  8 A?>A>1K 53> 87=0;L=K9 4>E>4; @0A?>;0305E>4; 8=45:AK F5=; 157@01>B8F0 8 55 D>@=><8G5A:85 F8:;K; M:>=>5 @02=>25A85; A>2>:C?=K9 A?@>A 8 A>2>:C?=>5 ?@54;>65=85; AB018;870F8>==0O ?>;8B8:0; @02=>25A85 =0 B>20@=>B@51;5=85 8 A15@565=8O; 8=25AB8F88; 3>AC40@AB25==K5 @0AE>4K 8 =0;>38; MDD5:B @0; 1N465B=>-=0;>3>20O ?>;8B8:0; 45=L38 8 8E DC=:F88; @02=>25A85 =0 45=56=>< @K=:5; 45=56=K9 @; 10=:>2A:0O A8AB5-:@548B=0O ?>;8B8:0; M:>=>AB 8 @0728B85; 4=K5 M:>=>B=>H5=8O; 2=5H=OO B>@3>2;O 8 B>@3>20O ?>;8B8:0; ?;0B56=K9 10;0=A; 20;NB=K9 :C@A; >A>15==>AB8 ?5@5E>4=>9 M:>=>AA88; ?@820B870F8O; D>@1AB25==>AB8; ?@54?@8=8; B5=520O M:>=>: B@C40; @0A?@545;5=85 8 4>E>4K; ?@5>1@07>20=8O 2 A>F80;L=>9 AD5@5; AB@C:BC@=K5 A42838 2 M:>=>@20=85 >B:@KB>9 M:>=>=0;L=K9 :>=5=B: M:>=>B5=F80; 8 ?5@A?5:B82K @0728B8O ?@>872>48B5;L=KE A8; 19 >1;0AB59 8 @5A?C1;8:, 2E>4OI8E 2 A>AB02 !818@A:>3> A>3;0H5=8O. !>F80;L=>-M:>=>45;8 @K=:0 AB@0=, 2E>4OI8E 2 780BA:>-"8E>>:50=A:89 @538>=. <5E0=87 >AB>:0 2 548=>5 @K=>G=>5 ?@>AB@0=AB2> >AA88. 7CG5=85 ?@>3@0<=25@A88 . #=825@A8B5BA:89 :>=5=B: G0AB=0O A>1AB25==>ABL :0: >A=>20 ?@54?@8=89 45OB5;L=>AB8, 8=B5;;5:BC0;L=0O A>1AB25==>ABL; ?@54?@8=8 :0: A?>A>1 DC=:F8>=8@>20=8O @K=>G=>9 M:>=>1;540 : A9 M:>=>AA88: @073>AC40@AB2;5=85 8 ?@820B870F8O, >A>15==>AB8 8=25AB8F8>==>9 ?>;8B8:8 2 @538>=0E; AB8 D8@2>3> ?>;>65=8O D8@=>AB; 4=0O B>@3>2;O; 20;NB=K5 :C@AK 8 ?;0B56=K9 10;0=A; A>F80;L=0O 70I8B0 =0A5;5=8O 8 ?>;8B8:0 4>E>4>2; 0=B88D;OF8>==0O ?>;8B8:0 3>AC40@AB20 2 >AA88. !?5F8D8:0 @0728B8O M:>=>AB>:0 8 !818@8. -:>=>=>;L ">3> ?>;8B5E=8G5A:>3> C=825@A8B5B0 2 @0728B88 M:>=>AA88. 280!-..008AF8?;8=K ?> 2K1>@C ABC45=B0, CAB0=02;8205;>38O 8 ?5403>38:0: A8E>;>38O: ?@541J5:B 8 4K ?A8E>;>388;  ?A8E>;>388 2 A8AB5@8O @0728B8O ?A8E>;>38G5A:>3> 7=0=8O 8 >A=>2=K5 =0?@02;5=8O 2 ?A8E>;>388; 8=48284, ;8G=>ABL, AC1J5:B,8=48284C0;L=>ABL; ?A8E8:0 8 >@30=872545=85 8 45OB5;L=>ABL; >A=>2=K5 DC=:F88 ?A8E8:8; @0728B85 ?A8E8:8 2 ?@>F5AA5 >=B>35=570 8 D8;>35=570; 73 8 ?A8E8:0; AB@C:BC@0 ?A8E8:8; A>>B=>H5=85 A>7=0=8O 8 15AA>7=0B5;L=>3>; >A=>2=K5 ?A8E8G5A:85 ?@>F5AAK; AB@C:BC@0 A>7=0=8O; ?>7=020B5;L=K5 ?@>F5AAK; >ICI5=85; 2>A?@8OB85; ?@54AB02;5=85; 2>>1@065=85; @G5AB2>; 2=8<0=85; <=5F5AAK; MF88 8 GC2AB20; ?A8E8G5A:0O @53C;OF8O ?>2545=8O 8 45OB5;L=>AB8; >1I5=85 8 @5GL; ?A8E>;>38O ;8G=>AB8; AB=K5 >B=>H5=8O; ?A8E>;>38O <0;KE 3@C??; 2K5 >B=>H5=8O 8 2708459AB28O. 5403>38:0: >1J5:B, ?@54<5B, 7040G8, DC=:F88, 4K ?5403>38:8; >A=>2=K5 :0B53>@88 ?5403>38:8: >1@07>20=85, 2>A?8B0=85, >1CG5=85, ?5403>38G5A:0O 45OB5;L=>ABL, ?5403>38G5A:>5 2708459AB285, ?5403>38G5A:0O B5E=>;>38O, ?5403>38G5A:0O 7040G0; >1@07>20=85 :0: >1I5G5;>25G5A:0O F5==>ABL; >1@07>20=85 :0: A>F8>:C;LBC@=K9 D5=>38G5A:89 ?@>F5AA; >1@07>20B5;L=0O A8AB5AA88; F5;8, A>45@60=85, AB@C:BC@0 =5?@5@K2=>3> >1@07>20=8O, 548=AB2> >1@07>20=8O 8 A0>1@07>20=8O; ?5403>38G5A:89 ?@>F5AA; >1@07>20B5;L=0O, 2>A?8B0B5;L=0O 8 @072820NI0O DC=:F88 >1CG5=8O; 2>A?8B0=85 2 ?5403>38G5A:>F5AA5; >1I85 D>@@30=870F88 CG51=>9 45OB5;L=>AB8; C@>:, ;5:F8O, A5@0B>@=K5 70=OB8O, 48A?CB, :>=D5@5=F8O, 70G5B, M:70=AC;LB0F8O; 4K, ?@85@30=870F88 8 C?@02;5=8O ?5403>38G5A:8F5AA><; A538G5A:>3> 2708459AB28O 8 A>F8>:C;LBC@=0O A@540 2>A?8B0=8O 8 @0728B8O ;8G=>AB8; C?@02;5=85 >1@07>20B5;L=K<8 A8AB5<0=0;L=K9 8 C=825@A8B5BA:89 :>=5=BK: >A>15==>AB8 @0728B8O ;8G=>AB8 2 A>F8>:C;LBC@=KE CA;>28OE !818@8. =48284C0;870F8O >1CG5=8O 2 CA;>28OE "#.  72!-..02 CAA:89 O7K: 8 :C;LBC@0 @5G8: AB8;8 A>2@53> @CAA:>3> O7K:0; ;5:A8:0, 3@0<=0;L=>-AB8;8AB8G5A:89 A>AB02 :=86=>9 @5G8; CA;>28O DC=:F8>=8@>20=8O @073>2>@=>9 @5G8 8 @>;L 2=5O7K:>2KE D0:B>@>2; ;8=328AB8G5A:85 8 M:AB@0;8=328AB8G5A:85 D0:B>@K ?C1;8G=>9 @5G8; AD5@0 DC=:F8>=8@>20=8O, 284>2>5 @07=>>1@0785, O7K:>2K5 G5@BK >D8F80;L=>-45;>2>3> AB8;O; 2708?@>=8:=>25=85 AB8;59; A?5F8D8:0 M;52 2A5 - 5004.13 () 8800 white gold dimplex model amesbury asko dhl motorola v3i macintosh mobihel 775