ࡱ > ` bjbj . >
L 8 X X X l G G G 8 ,H @H T l c | H H H H H H vI D I $ c c c c c c c $
e h rg t 'c ! X I H H I I 'c X X H H Hc J J J I . X H X H c J I c J J ` X X b H H N G J F Ea b ^c 0 c ]a \ g RJ . g 0 b b g X b I I J I I I I I 'c 'c J I I I c I I I I l l l + l l l + l l l X X X X X X >ABL
=B>= !5@3>
><?LNB5@=0O A5BL =B5@=5B AB@5 ?@52@0B8;0AL 2 >1I5?;0=5B0@=CN 8=D>@==CN A8AB53>- B> >=0 3;>10;L=K9 A?@02>G=8:, 4;O :>3>- B> 181;8>B5:0 2>9 :C;LBC@K, 4;O :>3>- B> B@81C=0 A>1AB25==KE AC645=89) , >=0 2>1@0;0 2 A51O =5 B>;L:> 4>AB>8=AB20 3;>10;L=>AB8, => 8 3;>10;L=K5 ?>@>:8. >76=>AB8 !5B8 2A5 G0I5 AB0=>2OBAO A@54AB2>25@H5=8O ?@>B82>?@02=KE 45O=89.
#AC3C1;O5BAO 2A5 MB> >A>15==>ABO72>;ONI59 =0=>A8BL <0:A8 2>76=K9 CI5@1 ?@8 <8=8<C<5 70B@0B. 0?@8?@545;82 CO728ABL :>9 A5B8 :@548B=>- D8=0=A>2>3> CG@5645=8O, 4;O 7;>C<KH;5==8:0 =5 ?@8=F8?80;5= @07A:>;L:C 2 >B;8G85 >B >1KG=>3> >3@01;5=8O C =53> =5B =5>1E>48AB8 1530BL ?> C;8F0< A =>;;0@>2 <5;:8<8 :C?N@0?KB ?>4B25@6405B A:070==>5. > 40==KB >4=>3> B0:>3> ?@5ABC?;5=8O A>AB02;O5B 6 5 0 BKA. 4>;;0@>2, 0 >B >1KG=>3> >3@01;5=8O 10=:0 9 BKA. 4>;;0@>2 !(.
?@>G5 H8@>:>3> @0A?@>AB@0=5=8O 3;>10;L=KE :>4C :>;L7>20= :0: 8=AB@C25@H5=8O :@068 87 0=:0 8==5A>BK ( !() , 0 ?5@2K9 70:>=, ?>A2OI5==K9 :><?LNB5@=K< ?@5ABC?;5=8O@840) B>;L:> 2 1 9 7 8 3>4C 8 ?@54CAB25BAB25==>ABL 70 48D8:0F8N, C=8GB>65=85, =5A0=:F8>=8@>20==K9 4>ABC? :>B=>A8BAO : :>=FC 7 0 - E, 0 =04;560I0O ?@02>20O 1070 ?>O28;0AL ;8HL 2 A5@548=5 9 0 - E.
>?C;O@870F8O 2 !5B8 :>9 ?@5ABC?=>AB8 8 45OB5;L=>AB8 E0:5@>2 >:@C65=0 =5:8@5>;>AB8 8 1;03>@>4AB20. ! B0:65 ?>4>3@520N 8=B5@5A : MB>AB8, A>74020O 0BAD5@C @>@65=8O E0:5@>2 2 B5 8;8 8=K5 :>1J5:BK ?>:07K20NB CO728ABL ?>;L7>20B5;59 :>B>@K5, AB@5I5=8N >1@@5=8N 55 >1@01>B:8, B5@ONB =0 157>?0A=>AB8.
5==K5 >1J5:BK C65 402=> O2;ONBAO 87;N1;5==K1J5:B>< 2=82 2A5E AB@0= 8 45- D0:B> AB0;8 M:70D5AA8>=0;0. !G8B05BAO, GB> >4=> 87 A0?0A=KE 2B>@65=89 2 :><?LN B5@=K5 A8AB51>@>=K !( 1K;> A>25@H5=> 2 40;5:>4C. 1 7 - ;5B=89 E0:5@ 4>H5; 4> D09;>2 A8AB5<K C? @02;5=8O @0:5B0 ?@8ACBAB285 >1=0@C68;8 ?>A;5 B>3>, :0: >= A=O; :>?88 ?@>3@0<3> >15A?5G5=8O, >F5=82053> 2 1 , 2 ;;0@>2, 2:;NG0O A25@EA5:@5B=K5 ?@>3@0<3> 8=B5;;5:B0.
"0;0=B E0:5@0 C65 402=> 0:B82=> M:A?;C0B8@C5BAO, @01>B0O =0 B@5BL8E ;8F 4;O @5H5=8O A0;55 B>3>, E0:5@K ?@82;5:0NBAO : A>B@C4=8G5AB2C =5 B>;L:> G0AB=K 8 3>AC40@AB25==K<8 AB@C:BC@0B05B =5 . 0?@8 8@40E =5 7040=8N !!! :>?8@>20;8 A5:@5B=K5 =0 8 N A S A . =0;>38G=>5 =559 @07254:8. 1 9 9 0 3>4C 3@C??0 02AB@0;89A:8E E0:5@>2 2K25;0 87 AB@>O @01>BC N A S A =0 2 4 G0A0.
>4>1=K5 A;CG08 =5 C=8:0;L=K. ?0A=>AB8 565ACB>G=> 2K45@6820NB BKAOG8 0B0:, A:>;L:> 87 =8E >:07K20NBAO CA?5H=K.
>O2;ONI0OAO 8=D>@ 2B>@65=8OE 2 A8AB5<K C?@02;5=8O O45@=K@C685A<8G5A:81J5:B0<8, 2 A8AB515A?5G5=8O 3>@>4>2 8 >B45;L=KE CG@5645=89 ( =0?@8<5@, 3>9 AB@5BL 2 702B@0H=89 45=L.
0:>=>40B5;LAB2> @07=KE AB@0= ?>- @07=>4E>48B : ?@02>2>9 >F5=:5 :>9 ?@5ABC?=>AB8. !B0=>28BAO >G5284=K =5A>3;0A>20==>ABL 70:>=>40B5;LAB20, >BACBAB285 G5B:>3> AC40@AB25==>3> A>B@C4=8G5AB20 8 =5@0728B>ABL 4=>3> 70:>=>40B5;LAB20 O2;ONBAO ACI5AB25==K@7>@L15 A B0:8<8 O2;5=8O5 70:>=>40B5;LAB2>
B5G5AB25==>5 70:>=>40B5;LAB2> ?@54CA;>2=CN >B25BAB25==>ABL 70 :>;>2=>3> :>45:A0, A>AB>OI59 87 B@5E AB0B59:
!B0BLO 2 7 2 . 5?@02>ABC? : :>9 8=D>@ABC? : >E@0=O59 70:>=>9 8=D>@ 5ABL 8=D>@<0F88 =0 A8B5;5, 2 M;5:B@>==>- 2KG8A;8B5;L=>9 <0H8=5 ( - ) , A8AB5 45O=85 ?>2;5:;> C=8GB>65=85, 1;>:8@>20=85, 48D8:0F8N ;81> :>?8@>20=85 8=D>@BK - , A8AB5740=85, 8A?>;L7>20=85 8 @0A?@>AB@0=5=85 2@54>=>A=KE ?@>3@0<740=85 ?@>3@0<< 4;O - 8;8 2=5A5=85 873@0< ?@82>4OI8E : =5A0=:F8>=8@>20==>65=8N, 1;>:8@>20=8N, 48D8:0F88 ;81> :>?8@>20=8N 8=D>@BK - , A8AB5 8A?>;L7>20=85 ;81> @0A?@>AB@0=5=85 B0:8E ?@>3@0<< 8;8 A8B5;59 A B0:83@0<<0<8) ;
!B0BLO 2 7 4 . 0@CH5=85 ?@028; M:A?;C0B0F88 - , A8AB5<K - 8;8 8E A5B8 ( 0@CH5=85 ?@028; M:A?;C0B0F88 - , A8AB5<, 8<5NI8ABC? : - , A8AB52;5:H55 C=8GB>65=85, 1;>:8@>20=85 8;8 48D8:0F8N >E@0=O59 70:>=>@ 45O=85 ?@8G8=8;> ACI5AB25==K9 2@54) .
5B =5>1E>48AB8 ?>4@>1=> 0=0;878@>20BL C:070==K5 AB0BL8, ?>A:>;L:C 8E 45B0;L=>A2OI5=K 3>G8A;5==K5 @01>BK, 0 02B>@A:89 15ABA5;;5@ %0:5@ 8 0:>= 2 :>=F5 ?@>H;>3> 25:0 >:>;> A>B=8 @07 2AB@5G0;AO 02B>@>O7KG=KE E0:5@A:8E A09B0E 2 >AA88 8 70 @C156><.
07C<?LNB5@=0O A5BL 65B 1KBL =5 B>;L:> >1J5:B> 8 A@54AB2>B25BAB25==>ABL ?@02>=0@CH8B5;O 1C45B ?> A>2>:C?=>AB8 ?@5ABC?;5=89. 0: 8725AB=>, A ?>ILN :><?LNB5@0 6=> A>25@H8BL ;N1>5 ?@5ABC?;5=85, :@>20=8O, ?>MB>;8G5AB2> ?@8<5=8AB0B>G=> 25;8:>.
5 ?@5B5=4CO =0 8AG5@?K20NI89 A?8A>: ?@>B82>?@02=KE 45O=89, :>B>@K5 3CB 1KBL A>25@H5=K A 8A?>;L7>20=854 459AB285 :>B>@KE >=8 3CB ?>?040BL:
!B0BLO 1 2 9 . ;525B0 ( @0A?@>AB@0=5=85 70254> ;>6=KE A2545=89, ?>@>G0I8E G5ABL 8 4>AB>8=AB2> 4@C3>3> ;8F0 8;8 ?>4@K20NI8E 53> @5?CB0F8N) .
!B0BLO 1 3 0 . A:>@1;5=85 ( C=865=85 G5AB8 8 4>AB>8=AB20 4@C3>3> ;8F0, 2K@065==>5 2 =5?@8;8G=>9 D>@A=>25==>AB8 G0AB=>9 687=8 ( =570:>==>5 A>18@0=85 8;8 @0A?@>AB@0=5=85 A2545=89 > G0AB=>9 687=8 ;8F0, A>AB02;ONI8E 53> ;8G=CN 8;8 A5 A>3;0A8O ;81> @0A?@>AB@0=5=85 MB8E A2545=89 2 ?C1;8G=> 45=AB@8@CNI5872545=88 8;8 A@54AB20E 2>9 8=D>@25@H5=K 87 :>@KAB=>9 8;8 8=>9 ;8G=>9 708=B5@5A>20==>AB8 8 ?@8G8=8;8 2@54 ?@020==K< 8=B5@5A0==KE ?5@53>2>@>2, ?>GB>2KE, B5;53@0D=KE 8;8 8=KE A>>1I5=89.
!B0BLO 1 4 6 . 0@CH5=85 02B>@A:8E 8 A==>5 8A?>;L7>20=85 >1J5:B>2 02B>@A:>3> ?@020 8;8 A ?@8A2>5=85 02B>@AB20, 5A;8 MB8 45O=8O ?@8G8=8;8 :@C?=K9 CI5@1) .
!B0BLO 1 4 7 . 0@CH5=85 87>1@5B0B5;LA:8E 8 ?0B5=B=KE ?@02 ( =570:>==>5 8A?>;L7>20=85 87>1@5B5=8O, ?>;57=>9 45;8 8;8 ?@>3> >1@07F0, @073;0H5=85 157 A>3;0A8O 02B>@0 8;8 70O28B5;O ACI=>AB8 87>1@5B5=8O, ?>;57=>9 45;8 8;8 ?@>3> >1@07F0 4> >D8F80;L=>9 ?C1;8:0F88 A2545=89 > =8E, ?@8A2>5=85 02B>@AB20 8;8 ?@8=C645=85 : A>02B>@AB2C, 5A;8 MB8 45O=8O ?@8G8=8;8 :@C?=K9 CI5@1) .
!B0BLO 1 5 8 . @060 ( B09=>5 E8I5=85 GC6>3> 8H5==8G5AB2> ( E8I5=85 GC6>3> 81@5B5=85 ?@020 =0 GC6>5 8 ?CB51C?>B@51;5=8O 4>25@85<) .
!B0BLO 1 6 3 . K30B5;LAB2> ( B@51>20=85 ?5@540G8 GC6>3> 8<CI5AB20 8;8 ?@020 =0 8 8;8 A>25@H5=8O 4@C38E 459AB289 83> E0@0:B5@0 ?>4 C3@>7>9 ?@8 C=8GB>65=8O 8;8 ?>2@5645=8O GC6>3> 8 ?>4 C3@>7>9 @0A?@>AB@0=5=8O A2545=89, ?>7>@OI8E ?>B5@?52H53> 8;8 53> 1;87:8E, ;81> 8=KE A2545=89, :>B>@K5 3CB ?@8G8=8BL ACI5AB25==K9 2@54 ?@020==K< 8=B5@5A0B5@?52H53> 8;8 53> 1;87:8E) .
!B0BLO 1 6 5 . @8G8=5=85 83> CI5@10 ?CB51C?>B@51;5=8O 4>25@85<.
!B0BLO 1 6 7 . #65=85 8;8 ?>2@5645=85 82;5:;8 ?@8G8=5=85 7=0G8B5;L=>3> CI5@10) .
!B0BLO 1 6 8 . #=8GB>65=85 8;8 ?>2@5645=85 8 =5>AB>@>6=>AB8 ( 2 :@C?=>< @07==>5 ?@54?@8=8 ( >ACI5AB2;5=85 ?@54?@8=89 45OB5;L=>AB8 157 @538AB@0F88 8;8 A =0@CH5=85 ?@54AB02;5=85 2 >@30=, >ACI5AB2;ONI89 3>AC40@AB25==CN @538AB@0F8N N@848G5A:8E ;8F, 4>:C2, A>45@60I8E 70254> ;>6=K5 A2545=8O, ;81> >ACI5AB2;5=85 ?@54?@8=89 45OB5;L=>AB8 157 A?5F80;L=>3> @07@5H5=8O ( ;8F5=788) 2 A;CG0OE, :>340 B0:>5 @07@5H5=85 ( ;8F5=78O) >1O70B5;L=>, 8;8 A =0@CH5=85289 ;8F5=78@>20=8O, 5A;8 MB> 45O=85 ?@8G8=8;> :@C?=K9 CI5@1 3@0640=0@30=870F8OAC40@AB2C ;81> A>?@O65=> A 872;5G5=85E>40 2 :@C?=>< @07 ;>6=0O @5:;0;L7>20=85 2 @5:;0 ;>6=>9 8=D>@B=>A8B5;L=> B>20@>2, @01>B 8;8 CA;C3, 0 B0:65 8E 873>B>28B5;59 ( 8A?>;=8B5;59, ?@>402F>2) , A>25@H5==>5 87 :>@KAB=>9 708=B5@5A>20==>AB8 8 ?@8G8=82H55 7=0G8B5;L=K9 CI5@1) .
!B0BLO 1 8 3 . 570:>==K5 ?>;CG5=85 8 @073;0H5=85 A2545=89, A>AB02;ONI8E :><2A:CN B09=C ( A>18@0=85 A2545=89, A>AB02;ONI8E :><2A:CN B09=C, ?CB5E8I5=8O 4>:C2, ?>4:C?0 8;8 C3@>7, 0 @02=> 8=K==KA>1> =570:>==>3> 8A?>;L7>20=8O MB8E A2545=89) .
!B0BLO 2 0 0 . 1B@518B5;59 ( >1125H820=85, >1AG5B, 22545=85 2 701;C645=85 >B=>A8B5;L=> ?>B@518B5;LA:8E A2>9AB2 8;8 :0G5AB20 B>20@0 ( CA;C38) 8;8 8=>9 >1B@518B5;59 2 >@30=870F8OE, >ACI5AB2;ONI8E @50;870F8N B>20@>2 8;8 >:07K20NI8E CA;C38 =0A5;5=8N, 0 @02=> 3@0640=020==K<8 2 :0G5AB25 8=48284C0;L=KE ?@54?@8=8@3>2;8 ( CA;C3) , 5A;8 MB8 45O=8O A>25@H5=K 2 7=0G8B5;L=>< @07==>5 @0A?@>AB@0=5=85 ?>@=>3@0D8G5A:8E 2 8;8 ?@542 ( =570:>==K5 873>B>2;5=85 2 F5;OE @0A?@>AB@0=5=8O 8;8 @5:;020=8O, @0A?@>AB@0=5=85, @5:;020=85 ?>@=>3@0D8G5A:8E 2 8;8 ?@542, 0 @02=> =570:>==0O B>@3>2;O ?5G0B=K<8 8740=8O- 8;8 2845><0B5@80;01@065=8O<8 8;8 8=K<8 ?@54<5B0@=>3@0D8G5A:>3> E0@0:B5@0) .
!B0BLO 2 7 6 . (?8>=06 ( ?5@540G0, 0 @02=> A>18@0=85, ?>E8I5=85 8;8 E@0=5=85 2 F5;OE ?5@540G8 8=>AB@0==>AC40@AB2C, 8=>AB@0==>9 >@30=870F88 8;8 8E ?@54AB028B5;OAB02;ONI8E 3>AC40@AB25==CN B09=C, 0 B0:65 ?5@540G0 8;8 A>18@0=85 ?> 7040=8N 8=>AB@0==>9 @07254:8 8=KE A2545=89 4;O 8A?>;L7>20=8O 8E 2 CI5@1 2=5H=59 157>?0A=>AB8 >AA89A:>9 $545@0F88, 5A;8 MB8 45O=8O A>25@H5=K 8=>AB@0==KACI5AB2;5=8N M:AB@59 45OB5;L=>AB8.
!B0BLO 2 8 2 . >71C645=85 =0F8>=0;L=>9, @0A>2>9 8;8 @5;838>7=>9 2@064K ( 459AB28O, =0?@02;5==K5 =0 2>71C645=85 =0F8>=0;L=>9, @0A>2>9 8;8 @5;838>7=>9 2@064K, C=865=85 =0F8>=0;L=>3> 4>AB>8=AB20, 0 @02=> ?@>?030=40 8A:;NG8B5;L=>AB8, ?@52>AE>4AB20 ;81> =5?>;=>F5==>AB8 3@0640= ?> ?@87=0:C 8E >B=>H5=8O : @5;8388, =0F8>=0;L=>9 8;8 @0A>2>9 ?@8=04;56=>AB8, 5A;8 MB8 45O=8O A>25@H5=K ?C1;8G=> 8;8 A 8A?>;L7>20=85< A@54AB2 2>9 8=D>@AC40@AB25==>9 B09=K ( @073;0H5=85 A2545=89, A>AB02;ONI8E 3>AC40@AB25==CN B09=C, ;8F>B>@>=0 1K;0 4>25@5=0 8;8 AB0;0 8725AB=0 ?> A;C615 8;8 @01>B5, 5A;8 MB8 A2545=8O AB0;8 4>AB>O=85BACBAB288 ?@87=0:>2 3>AC40@AB25==>9 879 2>9=K.
07CB ?5@5G5=L =5;L7O AG8B0BL 8AG5@?K20NI865 2@5<O, @0AAB@5=85 @07;8G=KE =0?@02;5=89 ?@5ABC?=>9 45OB5;L=>AB8 2 AD5@5 2KA>:8E B5E=>;>389, ?>:07K205B A8;L=>5 >BAB020=85 8 =5A>25@H5=AB2> A>2@53> 70:>=>40B5;LAB20. 5AB@O =0 MB>, :> ?@82;5:0NBAO : C3>;>2=>9 >B25BAB25==>AB8.
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
6 >B45;>1;0AB8 2 A5=BO1@O 1 9 9 8 3. 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:0< ?@5ABC?;5=8O, ?@54CAB@5==>3> AB. 2 7 3 # $ ?> D0:BC @0A?@>AB@0=5=8O :>2 A ?@>3@0<<0<8, ?@54=07=0G5==K3@0<4C:B>2, 0 B0:65 27;>3@0<< A;CG05 1K;8 ?@87=0=K A;54AB285=>A=K3@0<<0<8 ( A;54C5B 70 B0:0O :20;8D8:0F8O, E>BO 8 ?@028;L=0 D>@, => 2A5- B0:8 2K7K205B 3>G8A;5==K5 A?>@K) . "0:65 >128=5=85 1K;> 2 E>45 A;54AB28O 4>?>;=5=> AB0BL59 1 4 6 # ( 0@CH5=85 02B>@A:8E 8 A52A:89 @09>==K9 AC4 3>@>40 86=53> "038;0 !25@4;>2A:>9 >1;0AB8 @0AAB@5; C3>;>2=>5 45;> ?> >128=5=8N . ?> AB. 1 5 9 , 1 8 3 , 2 7 2 , 2 7 3 #. >:BO1@5- =>O1@5 1 9 9 8 3>40 . , ?>;L7COAL A2>8< A;C651=K;>65=8525@H8; 87AB8 =0G8A;5=8O 70@01>B=>9 ?;0BK =0 ?@54?@8OB88 B0:, GB> C @01>B=8:>2, :>B>@KAL 1>;55 AB0 @C1;59, A?8AK20;>AL ?> >4=>ABC?0;8 =0 AG5B, >B:C40 8E 2?>A;54AB288 A=O; . 73@0<20=K ?> AB0BL5 2 7 3 , A1>@ A2545=89 > AG5B0E ;8F, 40==K5 > :>B>@KE 1K;8 2=5A5=K 2 107C ?@54?@8OB8O, - ?> AB0BL5 1 8 3 , 48D8:0F8O MB8E 40==KE - ?> AB0BL5 2 7 2 , 0 ?>;CG5=85 =0G8A;5==KE 45=56=KE A@54AB2 - ?> AB0BL5 1 5 9 #. . 1K; ?@83>2>@5= : 5 3>401>4K CA;>2=> A ;8H5=85< ?@020 70=8D5AA8>=0;L=>9 45OB5;L=>ABLN ?@>3@0<?5@0B>@0 - A@>:>40.
6 D52@0;O 1 9 9 9 3>40 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:0< ?@5ABC?;5=8O, ?@54CAB@5==>3> AB. 2 7 2 #. E>45 ?@5420@8B5;L=>3> A;54AB28O 1K;> CAB0=>2;5=>, GB>, A F5;LN E8I5=8O GC6>3> 8128=O52>@, ?> :>B>@>B0NI89 2 D8@<5 !03>= , 8ABC? : :><?LNB5@0< D8@2 D8@20==CN 70?8AL A @5:2878B0B>@K5 2?>A;54AB288, . ?>;CG8; A> A:;040 D8@4C:F8N AB>8ABLN 1>;55 7 0 BKAOG @C1;59. 59AB28O '. :20;8D8F8@>20=K =0 ?@5420@8B5;L=> AB0BL5 2 7 2 #. @83>2>@>;>3>4A:>3> 3>@>4A:>3> AC40 . 1K; >AC645= ?> AB0BL5 1 5 9 # ( >H5==8G5AB2>) : 5 3>40 AB0BLO401>4K CA;>2=>.
1 2 40 2 #?@02;5=88 ?@8 # >AB>2A:>9 >1;0AB8 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:045 A;54AB28O ?> AB0BL5 2 7 2 1K;8 :20;8D8F8@>20=> 702;045=85 :> 8=D>@9 A;54AB285<9 B09=>9. >ABC? : :>872>48;AO 2 =0@CH5=88 ?@028; 8A?>;=8B5;L=>3> ?@>872>4AB20, 2 E>45 :>B>@>3> >4=>128=O520B5;59 G0AB8 !# ?@8 5A?C1;8:8 0H:>@B>AB0= 2 3 8N=O 1 9 9 9 3. 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:0< ?@5ABC?;5=8O, ?@54CAB@5==>3> AB0BL59 1 5 8 # ?> D0:BC =5A0=:F8>=8@>20==>3> 4>ABC?0 : A5B8 =B5@=5B. E>45 A;54AB28O >128=5=85 1K;> ?@54JO2;5=> . 8 . , 8E 459AB28O 1K;8 ?5@5:20;8D8F8@>20=K ?> AB0BLO==K5 ?>;CG5=85 8 @073;0H5=85 A2545=89, A>AB02;ONI8E :><2A:CN B09=C) 8 2 7 2 #. >B;8G85 >B @0AAB@5==KE @0=55 45;, A2O70==KE A @0A?@>AB@0=5=853@0<;59 4;O 4>ABC?0 : A5B8 8=B5@=5B 8 ?>;L7>20=85 2 ?>A;54CNI5< B0:8ABC?>9 AG5B, 2 40==> 238=>2 8 ?0@>;59 4;O 4>ABC?0 1K;> :20;8D8F8@>20=> ?> AB0BL5 1 8 3 #. !B0BLO 1 6 5 2 ?@54AB02;O5BAO C?CI5=8540 A;54>20B5;53> >B45;5=8O # $! >AA88 ?> @E0=35;LA:>9 >1;0AB8 1K;> 2>71C645=> C3>;>2=>5 45;> ?> D0:BC A>740=8O 8 @0A?@>AB@0=5=8O 2@54>=>A=KE ?@>3@0<AB@0=5=85 B@>O=F52 1K;> :20;8D8F8@>20=> ?> AB0BL5 2 7 3 #, 4>ABC? : GC68;O AB0BL5 2 7 2 . 48= 87 >128=O5 45;C ?>;CG8; 2 3>40 ;8H5=8O A2>1>4K CA;>2=>, 2B>@>9 - 3 3>40 @50;L=>, 2?@>G5= 1K; >A2>1>645= 87- ?>4 AB@068 2 70;5 AC40 ?> 0:BO1@O 1 9 9 9 3>40 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:0< ?@5ABC?;5=8O, ?@54CAB@5==>3> AB0BL59 2 7 2 #, ?> D0:BC =5A0=:F8>=8@>20==>9 48D8:0F88 ?@>3@0<3> ?>8A:>2>3> A5@25@0 >2#. @57C;LB0B5 40==>3> 878A:>2>9 AB@0=8F5 A5@25@0 ?>O28;0AL AAK;:0 =0 AB@0=8FC, A>45@60ICN ?>@=>3@0D8G5A:85 87>1@065=8O. A>25@H5=88 40==>3> ?@5ABC?;5=8O 2 E>45 ?@5420@8B5;L=>3> A;54AB28O >128=O;AO $. ?>A;54AB288 >= 1K; >128=5= B0:65 2 =570:>==>AB@0=5=88 8 @5:;020=88 ?>@=>3@0D8G5A:8E 2 ?> AB0BL5 2 4 2 # ( 570:>==>5 @0A?@>AB@0=5=85 ?>@=>3@0D8G5A:8E 2 8;8 ?@542) . > 8@ 45;C 1K; 2K=5A5= >?@0240B5;L=K9 ?@83>2>@.
8653>@>4A:89 @09>==K9 AC4 6 40 2K=5A ?@83>2>@ 70 0=0;>38G=>5 ?@5ABC?;5=85 ?> AB0BLOB=>H5=88 G5BK@5E 68B5;59 86=53> >23>@>40, 459AB2>202H8E ?> B>9 65 AE5;CG02H8E 4>ABC? : =B5@=5BC 70 AG5B 4@C38E 01>=5=B>2. 48= 87 A>CG0AB=8:>2 ?>;CG8; 3 3>40 1 5 4@C38E - ?> 2 3>40 1 1>4K CA;>2=>.
1 8 0?@5;O 2 0 0 0 3>40 (04@8=A:8@>4A:8AC645= : HB@0DC 2 3 0 0 0 @C1;59 . , ?> AB0BLO< 2 7 2 8 1 6 5 ( @8G8=5=85 83> CI5@10 ?CB51C?>B@51;5=8O 4>25@8525@H8; 25ALAB@0=5==>5 ?@5ABC?;5=85 - ?>;CG0; 4>ABC? : A5B8 =B5@=5B 70 GC6>9 AG5B, ?>;L7COAL GC6838=>;5ABC?0 : A5B8. >38= 8 ?0@>;L >= ?>;CG8;, ?@8A;02 ?@>3@0<O=F0 =0 :><?LNB5@- 65@B2C . @0AA<0B@8205< ?@820; =5A0=:F8>=8@>20==K9 4>ABC? : GC6>;O ?> AB0BL5 2 7 2 , 0 ?>;L7>20=85 CA;C3>9 4>ABC?0 : =B5@=5B - ?> AB0BL5 1 6 5 #. 40==>1@0I05B =0 A51O 2=8B D0:B, GB> B@>O=A:CN ?@>3@0<3;0A=> 53> 65 A>1AB25==K:070=8OA;0; =0 :>9 A?5F80;L=> 4;O MB>3> AB@0=8FK =0 A5@25@5 2 =B5@=5B, 04@5A0 :>B>@>9 >= =5 ?>6=> ?@54?>;>68BL, GB>, 3>2>@O ?@> B0:CN AB@0=8FC, . ?@>AB> 871560; >128=5=8O 5I5 8 ?> AB0BL5 2 7 3 # 2 @0A?@>AB@0=5=88 2@54>=>A=KE ?@>3@0<4=>5 ?> :20;8D8:0F88 45;> 1K;> @0AAB@5=> 9 D52@0;O 2 0 0 1 3>40 @0A=>320@459A:8< D545@0;L=K@>40 !0=:B- 5B5@1C@30. @>3@0<2=K AB0BL5 2 7 3 # 2 1 2 M?87>40E @0A?@>AB@0=5=8O 2@54>=>A=KE ?@>3@0< AB0BL5 1 6 5 - 2 ?@8G8=5=88 83> CI5@10 ?CB51C?>B@51;5=8O 4>25@85O1@O 1 9 9 8 ?> 0?@5;L 1 9 9 9 3>40 >= @0AAK;0; :;85=B020945@>2 B@>O=A:85 ?@>3@0<;CG0; ;>38=K A ?0@>;OB>@K;L7>20;AO 4;O 4>ABC?0 : 8=B5@=5B. !C4 ?@83>2>@8; 53> : B@5401>4K 8 HB@0DC 2 @07<5@5 3 0 0 <8=8<0;L=KE @072 >?;0BK B@C40. ?@>G51>4K . =5 ?@8H;>AL - 87- 70 042>4O 8B>3 :@0B:>17>@C, A;54C5B ?@87=0BL, GB> :>?>;CG=> @01>B0NB 8 ?> =8 ?@82;5:0NBAO : >B25BAB25==>AB8 :><?LNB5@=K5 H5==8:8 8 EC;830=K. >A;54=55 2@5 AB. 2 7 2 8 AB. 2 7 3 ?@02>>E@0=8B5;L=K@30=0B=8 ?@5ABC?;5=89 5653>4=>.
B>65 2@5340 MB8 AB0BL8 8A?>;L7CNBAO =5 A>2A5 =07=0G5=8N. A;54CNI8E ?@8945B > 4>AB0B>G=> A?>@=KE 45;0E: ?@54AB02;O5BAO, GB> :20;8D8F8@>20=K 459AB28O >128=O5 =82A5. ?>4>1=>3> @>40 45;0E =5AD>@20==>ABL ?@0:B8:8 ?@8 :>28BAO >A>15==> 709.
9 =>O1@O 1 9 9 8 3>40 # # >A:>2A:>9 >1;0AB8 1K;> 2>71C645=> C3>;>2=>5 45;> ?> D0:BC A>25@H5=8O =5?@02>3> 4>ABC?0 : >E@0=O59 70:>=>9 8=D>@2KE 0??0@0B0E >4=>3> 87 G0AB=KE ?@54?@8=8@>40 02;>2A:89 >A04. > AB0BL5 2 7 2 # 2 E>45 A;54AB28O 1K;> :20;8D8F8@>20=> 87@=B@>;L=>- :0AA>2KE 0??0@0B0E, ?@8 :>B>@KE 70?8A0==0O 2 =8E AC<<0 2K@CG:8 70 A 70=860;0AL. >=B@>;L=>- :0AA>2K5 0??0@0BK 1K;8 ?@87=0=K A;54AB285284=>ABLN M;5:B@>==>- 2KG8A;8B5;L=>9 40 A;54AB25==>9 G0ABLN A;54AB25==>3> C?@02;5=8O ?@8 # .6=>3> 043> >:@C30 3. >A:2K 1K;> 2>71C645=> C3>;>2=>5 45;> ?> ?@87=0:0< ?@5ABC?;5=8O, ?@54CAB@5==>3> AB0BL59 2 7 2 #, ?> >128=5=8N . E>45 A;54AB28O >128=5=85 1K;> 4>?>;=5=> AB0BLO445;:0, 873>B>2;5=85 8;8 A1KB ?>445;L=KE 4>:C2, 3>AC40@AB25==KE =03@04, HB02, ?5G0B59, 1;0=:>2) , 1 8 3 . > AB0BL5 2 7 2 1K; :20;8D8F8@>20=> ?>;L7>20=85 B5;5D>=>9=8:>72>;ONI8872>48BL 15A?;0B=K5 72>=:8 70 GC6>9 AG5B. @0AA<0B@8205< ?@8B>2K9 B5;5D>= 1K; ?@87=0= A;54AB285284=>ABLN - , 0 =0?8A0=85 ?@>3@0<ILN :>B>@>9 >1KG=K9 B5;5D>= ?@52@0I0;AO 2 42>9=8: , - ?> AB0BL5 2 7 3 . =D>@ A5@89=>=5=BA:>=0 1K;0 ?@87=0=0 >@30=0<9 B09=>9, GB> 8 >1CA;>28;> ?>O2;5=85 2 >128=5=88 AB0BL8 1 8 3 .
A>15==> G0AB> ?>?KB:8 2 :>340 A>25@H0NBAO A>25@H5==>, :070;>AL 1K, =5 >B=>AOI85AO : :><?LNB5@0< 459AB28O ?@54?@8=8<0NBAO 2 A;CG0OE H5==8G5AB20 A A>B>2K=0@30=03> A;54AB28O ( 5=8=A:89 3. !B02@>?>;O) AB0BLO 2 7 2 1K;0 2128=O5;L7>202H5@01>B0==KB>2K=>B>@K9 ?>72>;O; ?@>872>48BL 72>=:8 70 GC6>9 AG5B.
!;CG09 =5 548=8G=K9: 5I5 2 1 9 9 8 3>4C 2 >@>=565 A;54>20B5;5@>=56A:>3> # ?> AE>4=> C65 70 873>B>2;5=85 ?>4>1=KE B5;5D>=>2, >128=O5<K< A;54AB288 B0:65 1K;0 2, ?>O2;5=85 2 #3>;>2=>45:A5 $ 1 9 9 6 3>40 3;02K 2 8 ( @5ABC?;5=8O 2 AD5@5 :>9 8=D>@ >G5=L A2>52@5<5==K;=0 :>9 ?@5ABC?=>AB8 C65 ?>H;0, 0 =04;560I59 ?@02>2>9 107K 5I5 =5 1K;>. ! ?>78F89 A53>4=OH=53> 4=O 6=> C65 A?>@8BL > =5C40G=>AB8 >B45;L=KE D>@2>: AB0B59 MB>3> @0745;0, >1 C7>AB8 >E20B0, > AB8 =0:070=8O 8 B0: 40;55. "5< =5 2K5 <5E0=87B25BAB25==>AB8 70 :>=8 @01>B0NB. B>65 2@55 70:>=>40B5;LAB2> 2 MB>9 AD5@5 1>;55 @0728B> 8 1K;> 1K =5?;>E> ?5@5=OBL ;CGH55 87 70@C156=>3> >?KB0.
0@C156=>5 70:>=>40B5;LAB2>
0:>=>40B5;LAB2> @07=KE AB@0= ?>- @07=>4E>48B : ?@>1;5 2;8O5B 65AB2> D0:B>@>2: =0F8>=0;L=0O ?@02>20O A8AB5@8O @0728B8O, A>2@55 M:>=>5 ?>;>65=85 8 3>5- 3>5 4@C3>5.
5 AB02O F5;LN ?>;=>ABLN >E20B8BL 2A5 70@C156=>5 70:>=>40B5;LAB2> ?>A2OI5==>5 :><?LNB5@=K< ?@5ABC?;5=8OOI51@0=K B578A=K5 C:070=8O =0 :><?LNB5@=K5 45O=8O, ?@54CA;>2=CN >B25BAB25==>ABL ?> 70:>=>40B5;LAB2C @07=KE AB@0= .
!(:
:>=06,
=5A0=:F8>=8@>20==K9 4>ABC? : 8=D>@;L7C53> ?@028B5;LAB25==K2@5645=85 8;8 =0@CH5=85 DC=:F8>=8@>20=8O :>;L7C53> ?@028B5;LAB25==K<,
H5==8G5AB2> A 8A?>;L7>20=85<?LNB5@0,
H5==8G5AB2> ?CB5@3>2;8 :><?LNB5@=K;O38G=>9 8=D>@?@545;5==KE >1AB>OB5;LAB20E,
C3@>7K, 2K30B5;LAB2>, H0=B06 8 4@C385 ?@>B82>?@02=K5 45O=8O, A>25@H05ILN :>@3>2;O ?>E8I5==K445;L=K9AB20ABC?0, :>B>@K5 3CB 1KBL 8A?>;L7>20=K 4;O ?>;CG5=8O 45=53, B>20@>2 8;8 CA;C3,
C5 ?>2@5645=85 81>@C4>20=8O, ;8=89 8 A8AB5>1I5=89, ?5@540205 B5;53@0DC, CAB=> 8;8 M;5:B@>==KA>1>=D845=F80;L=>AB8 M;5:B@>==>9 ?>GBK 8 3>;>A>2KE A>>1I5=89,
2 4 N P b d b d 8 F 6# 1 1 4 G M bd f f n p t ~ J Z p * @ , 5 5 7 7 L L W W Y Y ɽɴɴɴɪ
h" PJ U h" 5h" B*h ph h" h mH sH j h" 0J Uh h" h j h" 0J U"h: h: 5CJ \aJ mH sH h: 0J CJ aJ h" mH sH h" > 4 P R T H @ h! 6# % % % % % 6' &* p- / .2 4 P6 d7
& F
& F d $a$gd: bz ސ d7 .8 ; A nA B E F G ;CG5=85 8;8 284>87>1I5=89, E@0=OI8EAO 2 ?0740=85 ?@5?OBAB289 4;O A0=:F8>=8@>20==>3> 4>ABC?0 : B0:8>1I5=8O<.
=3;8O:
CB82>70:>==K9 4>ABC? : :>45@60I59AO 2 =59 8=D>@3@0<<0ABC? : :>9 8=D>@<0F88 =0 A8B5;5, 2 :>9 A8AB5 ?>2;5:;> C=8GB>65=85, 1;>:8@>20=85, 48D8:0F8N ;81> :>?8@>20=85 8=D>@BK :>9 A8AB5=0;L=KE 40==KE ( 2 B. G. A 8A?>;L7>20=859 B5E=8:8) ,
873>B>2;5=85 8 @0A?@>AB@0=5=85 ?>@=>3@0D8G5A:8E 2, A 8A?>;L7>20=859 B5E=8:8,
0=040:
=5A0=:F8>=8@>20==>5 ?>;CG5=85 ;N1KE :>=8@>20==K9 ?5@5E20B, ?@5@K20=85, >BA;56820=85, 70?8AL A 8A?>;L7>20=85 CAB@>9AB2 ;N1KE :>;L7>20=85 8;8 ?@8=C645=85 : 8A?>;L7>20=8N, :><?LNB5@=KE A8AB525@H5=8O ?@5ABC?;5=89 ?@>B82 A>1AB25==>AB8,
C5 =5A0=:F8>=8@>20==>5 8765=85 :><?LNB5@=KE 40==KE,
C5 @0A?@>AB@0=5=85 15AA;57=KE 8;8 157@57C;LB0B=KE :>3@0<<,
C5 A>740=85 70B@C4=5=89, ?>==>3> 8A?>;L7>20=8O >1I54>ABC?=KE :>;L7>20=85 :>;>389 2 F5;OE 872;5G5=8O ?@81K;8 ?CB5740=8O D8=0=A>2KE ?8@038G=KE <0E8=0F89.
5@ABC? : :>9 8=D>@=8@>20==0O 48D8:0F8O :>9 8=D>@;L7>20=85,
=5A0=:F8>=8@>20==>5 87<5=5=85, 48D8:0F8O, ?>445;:0 8;8 CB0820=85 M;5:B@>==KE 40==KE,
@07@CH5=85, ?>2@5645=85, ?@82545=85 2 =53>4=>ABL B5E=8G5A:8E A@54AB2 >1@01>B:8 8=D>@<==>9 A2O78,
:>5 H5==8G5AB2>,
=570:>==>5 2 2 @01>BC B5;5:><==KE A8AB5;L7>20=85 8;8 ?@540=85 >3;0A:5 A>>1 I5=89, ?5@540205<KE A@54AB20==K9 4>ABC? : 02B>20==>9 A8AB51@01>B:8 40= =KE,
=0@CH5=85 8;8 2>A?@5?OBAB2>20=85 =>@9 @01>B5 :>9 A8AB565=85 8;8 48D8:0F8O 8=D>@20==>9 8=D>@==>9 A8AB54 8;8 E@0=5=85 2 ?0=>@O4:0 02B>20==>9 >1@01>B:8 ?5@A>=0;L=KE 40==KE,
A1>@ 8 >1@01>B:0 40==KE =570:>==KA>1>?@545;5==KE 40==KE A25@E CAB0=>2;5==>3> 70:>=>:0,
=5A0=:F8>=8@>20==>5 8A?>;L7>20=85 40==KE,
C=8GB>65=85, ?>@G0 8;8 E8I5=85 ;N1>3> 4>:C>@C65=8O, >1>@C4>20=8O, CAB0=>2:8, 0??0@0B0, B5E=8G5A:>3> CAB@>9AB20 8;8 A8AB520==>9 >1@01>B:8 40==KE 8;8 2=5A5=85 2 =8E 87B>2;5=85 8 @0A ?@>AB@0=5=85 ?> B5;5:><==K< A5BO9 ?>@=> 3@0D88,
A1>@ 8;8 ?5@540G0 A>45@60I59AO 2 ?0B5:5 8=D>@AB@0==>AC40@AB2C, C=8GB>65=85, E8I5=85, 87JOB85 8;8 :>?8@>20=85 40==KE, =>AO I8E E0@0:B5@ A5:@5B>2 =0F8>=0;L=>9 >1>@>=K, A>45@60I8EAO 2 ?0B5:0E, 0 B0:65 >7=0:><;5=85 A MB8<8 40==KAB>@>==8E ;8F,
B5@@>@8AB8G5A:85 0:BK, A2O70==K5 A 45O=8O1;0AB8 8=D>@GB>2>9 8 B5;5:><==>9 B09=K,
=570:>==>5 ?>;CG5=85 4>ABC?0 : 8=D>@<0F88 2 A8AB59 >1@01>B:8 40==KE 8;8 =570:>==>5 87102;5=85 2 =8E 40==KE,
H5==8G5AB2> ?CB5AB02;5=8O =5?@028;L=>9 8;8 =5?>;=>9 8=D>@<0F88, 8;8 2=5A5=8O 873@0<BG5B=>ABL, 8;8 :0:8 4@C38A>109 >1@01>B:8 8=D>@9 4@C3>9 AE>4=>9 02B>9 >1@01>B:8, :>B>@0O 2;5G5B 2K3>4C 4;O ;8F0, A>25@H82H53> ?@5ABC?;5=85 8 C1KB:8 4;O ;N1>3> 4@C3>3> ;8F0,
873>B>2;5=85, A1KB 8 @0A?@>AB@0=5=85 45BA:>9 ?>@=>3@0D88.
845@;0=4K:
=5?@02>5 2B>@65=85 2 :><?LNB5@=CN A8AB53> =0@CH0NBAO ?@028;0 157>?0A=>AB8 ;81> B0:>9 4>ABC? >ACI5AB2;O5BAO A ?>ILN B5E=8G5A:8E A@54AB2, ;>6=KE A83=0;>2, :;NG59, ?>;=>G89;
=5?@02>5 ?@>=8:=>25=85 2 :><?LNB5@=CN A8AB5?8@>20=855 ?@>=8:=>25=85 2 :><?LNB5@=CN A8AB5;L7>20=85<==KE CAB@>9AB2, 5A;8 MB> A>25@H05BAO A F5;LN 872;5G5=8O =570:>==KE 4>E>4>2 8;8 4;O 4>ABC?0
spartherm
locus
gislaved
de luxe 5040.11
touch screen
elmos
kiev apartments service
li-da
-4361
mobil cut
2113
:
hi-fi