*CQCL 1GC @GRRC BGCQC %C@P?SAFQ?LUCGQSLE ?SD
KCPIQ?K BSPAF SLB @C?AFRCL 1GC BGC B?PGL CLR
F?JRCLCL 1GAFCPFCGRQ
SLB 5?PLFGLUCGQC @CTMP
1GC BCL 1R?S@Q?SECP GL
@CU?FPCL 1GC BGC %C@P?SAFQ?LUCGQSLE SL@C
BGLER ?SD
5HDKDM #@MJ
C@RR 2HD RHBG E¬Q DHMDM 1# - DMSRBGHDCDM G@ADM 6HQ
RHMC RHBGDQ
C@RR 2HD UHDK %QDTCD @M CHDRDL &DQS G@ADM VDQCDM
%¬Q (GQD 'HMVDHRD TMC 6¬MRBGD RSDGDM VHQ (GMDM FDQMD TMSDQ
UUUQC@MBC YTQ 5DQE¬FTMF
(GQ MDTDQ 1# - HRS DHM GNBGVDQSHFDR
K@MFKDAHFDR TMC HMMNU@SHUDR
/QNCTJS
C@R M@BG MDTDRSDQ 3DBGMNKNFHD HM #DTSRBGK@MC DMSVHBJDKS
TMC FDEDQSHFS VHQC 2DHMD DEEHYHDMSD 2@TFKDHRSTMF TMC RDHM RDQHDM
LHF HMSDFQHDQSDR CQDHRSTEHFDR %HKSQ@SHNMRRXSDL AHDSDM (GMDM @T
DQFDV¦GMKHBG GNGD 2S@MC@QCR $QKDADM 2HD RDKARS C@R OQNEDRRHN
MDKKD 2@TFDQKDAMHRÜ
2HBGDQGDHSRGHMVDHRD
!FB $B?O>R@EP>KTBFPRKD ?FQQB DRQ >RC?BT>EOBK
4FOA ABO
0Q>R?P>RDBO >K !OFQQB TBFQBODBDB?BK JRPP RK?BAFKDQ AFB
$B?O>R@EP>KTBFPRKD JFQ ª?BODB?BK TBOABK
!FB BKRQWRKD ABP $BOQBP DBP@EFBEQ >RC BFDBKB 3BO>KQ
TLOQRKD
!BO %BOPQBIIBO E>CQBQ KF@EQ CªO 0@EABK AFB ARO@E
C>IP@EB BAFBKRKD LABO KF@EQ ?BPQFJJRKDPDBJBK $B
?O>R@E SBOROP>@EQ TBOABK
!DRSHLLTMFRFDLD 5DQVDMCTMF
!FBPBP $BOQ H>KK SLK (FKABOK >? '>EOBK RKA A>Oª?BO
RKA SLK -BOPLKBK JFQ SBOOFKDBOQBK MEVPFP@EBK PBKPLOF
P@EBK LABO JBKQ>IBK #EFDHBFQBK LABO *>KDBI >K "OC>E
ORKD RKALABO 4FPPBK ?BKRQWQ TBOABK TBKK PFB ?B>RC
PF@EQFDQ TBOABK LABO ?BWªDIF@E ABP PF@EBOBK $B?O>R@EP ABP
$BOQBPRKQBOTFBPBKTROABKRKAAFBA>O>RPOBPRIQFBOBKABK
$BC>EOBK SBOPQ>KABK E>?BK
(FKABO AªOCBK KF@EQ JFQ ABJ
$BOQPMFBIBK
/BFKFDRKDRKABKRQWBOT>OQRKDAªOCBKKF@EQ
ARO@E (FKABO LEKB B>RCPF@EQFDRKD ARO@EDBCªEOQ TBOABK
!BK 0Q>R?P>RDBO KRO >K ABK SLODBPBEBKBK $OFCCBK QO>KP
MLOQFBOBK RKA ?BAFBKBK
%>KADOFCC TEOBKA ABP BQOFB?BP
PQBQP CBPQE>IQBK
!>P $BOQ BOPQ >?PQBIIBK PL?>IA AFB OLQFB
OBKAB ªOPQB HLJMIBQQ WRJ 0QFIIPQ>KA DBHLJJBK FPQ ABO
+BQWP@E>IQBO >RPDBP@E>IQBQ RKA ABO +BQWPQB@HBO DBWLDBK
TROAB
3LO >IIBK O?BFQBK >J 0Q>R?P>RDBO
"OPQ A>P $BOQ >RPP@E>IQBK RKA ABK +BQWPQB@HBO WFBEBK
/BM>O>QROBK RKA "OP>QWQBFIB>RPQ>RP@E >J 0Q>R?P>RDBO
AªOCBK KRO SLK #>@EHOCQBK >RPDBCªEOQ TBOABK
+FBJ>IP ?BF >KDBP@EILPPBKBJ LABO I>RCBKABJ $BOQ >K
AFB ªOPQB ABO 0", -1 0", 11
"P ?BPQBEQ 3BO
IBQWRKDPDBC>EO ARO@E "FKHIBJJRKD
'B K>@E *LABII
CRPGC@ LCFKCL
GRRC
.JC?QC PC?B RFCQC GLQRPSARGMLQ A?PCDSJJW
@CDMPC SQGLE RFC K?AFGLC ?LB Q?TC RFCK DMP DS
RSPC PCDCPCLAC
3G@MJ XNT ENQ BGNNRHMF 1# - 8NTQ MDV 1# - HR @M HMMNU@SHUD
GHFG PT@KHSX OQNCTBS SG@S G@R ADDM CDUDKNODC @MC L@CD HM &DQ
L@MX TSHKHRHMF SGD LNRS LNCDQM SDBGMNKNFX 3GD 2"K@RR EHKSDQ
RXRSDL @MC RTODQA BKD@MHMF ONVDQ DMRTQD SGD GHFGDRS RS@M
C@QCR NE BKD@MKHMDRR ENQ XNTQ GNLD
3N DMRTQD XNT FDS SGD LNRS EQNL XNTQ 2$!. U@BTTL BKD@MDQ
OKD@RD S@JD SHLD SN QD@C SGDRD HMRSQTBSHNMR 6D U@KTD XNTQ EDDC
A@BJ @MC HE XNT G@UD @MX RTFFDRSHNMR
OKD@RD BNMS@BS TR @S
VVVRDANBNTJ
2@EDSX (MRSQTBSHNMR
-IB>PB P>SB QEBPB FKPQOR@QFLKP
&C VLR M>PP QEFP S>@RRJ QL
> QEFOA M>OQV MIB>PB M>PP QEBPB LK >P TBII
1EB RPB LC QEB
J>@EFKB FP >Q VLRO LTK OFPH
1EB J>KRC>@QROBO PRMMIFBO
FP KLQ IF>?IB CLO >KV FKGROV LO A>J>DB @>RPBA ?V FK@LOOB@Q
RP>DB LC QEB J>@EFKB
1EFP >MMIF>K@B @>K ?B RPBA ?V @EFIAOBK >DBA COLJ VB>OP
>KA >?LSB >KA MBOPLKP TFQE OBAR@BA MEVPF@>I PBKPLOV LO
JBKQ>I @>M>?FIFQFBP LO I>@H LC BUMBOFBK@B >KA HKLTIBADB
FC QEBV >OB DFSBK PRMBOSFPFLK LO FKPQOR@QFLK @LK@BOKFKD RPB
LCQEB>MMIF>K@BFK>P>CBT>V>KARKABOPQ>KAQEBE>W>OAP
FKSLISBA
EFIAOBK PELRIA KLQ MI>V TFQE QEB >MMIF>K@B
IB>KFKD >KA RPBO J>FKQBK>K@B PELRIA KLQ ?B ALKB ?V
@EFIAOBK TFQELRQ PQOF@Q PRMBOSFPFLK
,KIV@>OOVQEBS>@RRJ@IB>KBO?VQEB@>OOVE>KAIB
IT>VP
ELIAQEBELPBE>KAIBTEBKLMBO>QFKDQEBS>@RRJ@IB>KBO
4EBK VLR CFKFPE LO FKQBOORMQ VLRO TLOH >IT>VP QROK LCC
RKMIRD QEB J>@EFKB >KA BKPROB QEB OLQ>QFKD ?ORPE E>P
PQLMMBA
IT>VP QROK LCC >KA RKMIRD QEB J>@EFKB ?BCLOB RKABOQ>
HFKD >KV J>FKQBK>K@B
II OBM>FOP TFQEFK QEB DR>O>KQBB
MBOFLA PELRIA ?B MBOCLOJBA ?V >K >RQELOFWBA 0", PBO
SF@B OBMOBPBKQ>QFSB
&C VLRO 0", S>@RRJ @IB>KBO E>P > 0", -1 QRO?L
?ORPE LO > 0", 11 QRO?L ?ORPE MIB>PB AL KLQ QLR@E
QEB ?ORPE TEBK FQ FP QROKFKD >P QEFP TFII @>RPB > OFPH LC FK
GROV QL QEB CFKDBOP
ABMBKAFKD LK JLABI