ࡱ>  #% !"YbjbjWW==!_8,] D@@@@$@)dj*@jjj! " "jclclclclclclc$egc %"wz!%"%"c-(jj -(-(-(%"0bj jjc@@%"jc-(-(/Tt J  jcjli=@@U# b^% !   !""#"  "  +(/ $& '!%     .. !,'# .. ,  "% "+ ! ",  #+ !  #!/% (+ #G51=>-<5B>48G5A:>5 ?>A>185 %       !  2005  88,8 5G0B05BAO ?> @5H5=8N  38 @540:F8>==>-8740B5;LA:>3> A>25B0 %   >45;L 8 B5E=>;>388 @01>BK A 45BL<8 3@C??K @8A:0 2 CA;>28OE H:>;K: #G51=>-<5B>48G5A:>5 ?>A>185. %010@>2A:: %  , 2005.- 73 A.  CG51=>-<5B>48G5A:>< ?>A>188 @0A:@K20NBAO >A>15==>AB8 @01>BK A 45BL<8 3@C??K @8A:0; ?@82545=K =>@<0B82=>-?@02>2K5 >A=>2K A>F80;L=>-?5403>38G5A:>9 ?>445@6:8 MB8E 45B59. @54AB02;5=0 <>45;L 8 <5B>48:0 A>740=8O 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 @5F8482>2 ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E (=0 >?KB5 # !( ! 53 3. %010@>2A:0), >1>1I5=K 8 ?@54AB02;5=K @57C;LB0BK @01>BK A B@C4=K<8 ?>4@>AB:0<8 ?> @07@01>B0==>9 <>45;8 =0 1075 # !( ! 11 3. 8:>;052A:-=0-<C@5. #G51=>-<5B>48G5A:>5 ?>A>185 ?@54=07=0G5=> A>F80;L=K< ?5403>30<, ?A8E>;>30<, :;0AA=K< @C:>2>48B5;O<, A?5F80;8AB0< A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E. %  , 2005 !   2545=85  41.@02>2K5 >A=>20=8O ?@>D8;0:B8:8 45BA:>3> =51;03>?>;CG8O 2 A>2@5<5==>9 >AA88 52. >;L 8 7=0G5=85 H:>;K 2 ?@>D8;0:B8:5 ?@02>=0@CH5=89 8;8 8E @5F8482>2 A@548 =5A>25@H5==>;5B=8E11 3. 4. 5.  >45;L 45OB5;L=>AB8 H:>;K ?> A>740=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 @5F8482>2 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E "5E=>;>38O :><?;5:A=>3> A>?@>2>645=8O 8 ?5403>38G5A:0O ?>445@6:0 ?>4@>AB:>2 3@C??K A>F80;L=>3> @8A:0 ?KB 45OB5;L=>AB8 # !( ! 11 3. 8:>;052A:0-=0-<C@5 ?> ?@>D8;0:B8:5 45280=B=>3> ?>2545=8O CG0I8EAO 8B5@0BC@0 @8;>65=8O 14 29 37 52 54 2545=85  =0AB>OI55 2@5<O, 4;O =0C:8 8 >1I5AB20 >AB0NBAO 1>;57=5==K<8, E>BO 8 2?>;=5 @07@5H8<K<8, 2>?@>AK: - 0: 2 >1I5AB25 A 2KA>G09H8< C@>2=5< >1@07>20==>AB8, 25:>2>9 B@048F859 3>AC40@AB25==>3> 2>A?8B0=8O ?>4@0AB0NI53> ?>:>;5=8O D5=><5= "45B59 3@C??K @8A:0" ?@8>1@5; <0AHB01 =0F8>=0;L=>3> O2;5=8O? - >G5<C A>25BA:0O, 0 ?>B>< 8 @>AA89A:0O A5<LO 2 =>259H8E A>F80;L=KE CA;>28OE AB@5<8B5;L=> CB@0B8;0 (>A;018;0) A2>N A?>A>1=>ABL C45@6820BL @515=:0 2 A8AB5<5 A>1AB25==KE >B=>H5=89? -  G5< 4>;6=0 ?@>O28BLAO ACI=>ABL 8 F5;8B5;L=0O A8;0 =>259H8E >B:@KB89 8 B5E=>;>389 A>F80;L=KE =0C: 2 ?@5>4>;5=88 ?@>1;5< 45BA:>3> 8 <>;>456=>3> =51;03>?>;CG8O 2 >AA88? !53>4=O, @0728B85 45BA:>3> =51;03>?>;CG8O 2 A>2@5<5==>9 >AA88, : A>60;5=8N, AB8<C;8@C5BAO, 2 ?5@2CN >G5@54L, ?@>1;5<0<8 2 A>F80;L=>9 ?>;8B8:5 3>AC40@AB20, A?>A>1AB2CNI8E @07<K20=8N 3@0=8F >B25BAB25==>AB8 <564C A5<L59 8 >1I5AB2>< 2 2>A?8B0=88 8 ?>;=>F5==>< AB0=>2;5=88 45B59. 5A>AB>OB5;L=>ABL 3>AC40@AB25==KE >@30=>2 8 A;C61 2 @5H5=88 ?@>1;5< 45BAB20, >BACBAB285 2>7<>6=>AB8 C >1I5AB20 2>7459AB2>20BL =0 A5<LN 2 45;5 2>A?8B0=8O, 157459AB25==>ABL <5E0=87<>2 @50;L=>9 <0B5@80;L=>9 8 A>F80;L=>-?5403>38G5A:>9 ?>445@6:8 A5<L5 ?@>B82>@5G0B ?@>O2;5=8N >B25BAB25==>3> 2>A?8B0=8O 45B59 @>48B5;O<8, ?5@5:;04K20O 1@5<O >B25BAB25==>AB8 =0 H:>;C. -B> AC605B 8 <8=8<878@C5B 2>7<>6=>AB8 A>F80;L=>3> 2>A?8B0=8O, 2 B>< G8A;5 45B59 3@C??K @8A:0.  =0AB>OI89 <><5=B, :>340 A;>2>A>G5B0=85 "45B8 3@C??K @8A:0", B5@<8=K "157=047>@=>ABL" 8 "15A?@87>@=>ABL" AB0;8 >1I5C?>B@518B5;L=K<8 A8<2>;0<8 2@5<5=8, =0CG=>5 8 ?@0:B8G5A:>5 >1@0I5=85 : ?@>1;5<5 ?@>D8;0:B8:8 ?@02>=0@CH5=89 8 8E @5F8482>2 2 ?>4@>AB:>2>9 A@545 AB0=>28BAO 0:BC0;L=>9. AA;54>20=8O ?@8G8= 157=047>@=>AB8 8 ?@02>=0@CH5=89 2KO28;8 A;>6=K5 2708<>A2O78 2 35=578A5 8 @07=KE ?@>O2;5=8OE MB8E A>F80;L=>-?A8E>;>38G5A:8E D5=><5=>2. A;8 >1>1I8BL @57C;LB0BK @O40 8AA;54>20=89 (.. 09:>2, .. 0H8@8=0, .. >20;Q2, .. $><8=0, .. /A<0= 8 4@.), B> <>6=> A45;0BL 2K2>4 > B><, GB> MB8 D5=><5=K A53>4=O O2;ONBAO ?@54<5B>< 2A5AB>@>==53> <56?@54<5B=>3> 0=0;870, 2:;NG0NI53> 2 A51O ?@>O2;5=85 2>7@0AB=KE :@878A>2, E0@0:B5@8AB8:8 A@54K, <5B>4K 2>A?8B0=8O, ?>A;54AB28O ?@51K20=8O 45B59 =0 C;8F5, A>F80;L=>-?A8E>;>38G5A:85 E0@0:B5@8AB8:8 45B59 3@C??K @8A:0 8 8E 1;8609H53> >:@C65=8O, 0 B0:65 ?>A;54AB28O A8AB5<=>3> :@878A0 >AA89A:>3> >1I5AB20. <5AB5 A B5< 2 @01>B5 A @51Q=:>< 3@C??K A>F80;L=>3> @8A:0 4;O ?5403>30-?@0:B8:0 0:BC0;L=K< AB0=>28BAO =5 AB>;L:> 7=0=85 >1I8E ?>4E>4>2 8 70:>=><5@=>AB59 45280=B>;>388 :0: =0C:8, A:>;L:> 2>7<>6=>ABL 2KO2;5=8O A8AB5<>>1@07CNI8E D0:B>@>2 @8A:0 :>=:@5B=>3> @51Q=:0 2 :>=B5:AB5 687=5==>9 A8BC0F88, 0=0;87 ?@8G8= 53> =51;03>?>;CG8O 8 2KAB@0820=85 =0 MB>9 >A=>25 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8. AE>4O 87 MB>3>, 2 =0H5< 8AA;54>20=88 <K ?>AB028;8 A;54CNICN F5;L: - 07@01>B0BL ?>4E>4K 8 B5E=>;>38N >@30=870F88 ?@>D8;0:B8G5A:>9 @01>BK ?5403>38G5A:>3> :>;;5:B820 >B=>A8B5;L=> ?@02>=0@CH5=89 (8;8 8E @5F8482>2) A@548 =5A>25@H5==>;5B=8E 2 >1I5>1@07>20B5;L=>9 H:>;5 G5@57 A>740=85 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8.  ?>A>188 @0AA<0B@8205BAO B5E=>;>38O A>740=8O 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E 2 CA;>28OE 2708<>459AB28O H:>;K A 4@C38<8 AC1J5:B0<8 A8AB5<K ?@>D8;0:B8:8 =0 ?@8<5@5 :>=AB@C8@>20=8O 40==>9 45OB5;L=>AB8 2 # !( ! 53 3. %010@>2A: 8 # !( ! 11, 3. 8:>;052A:-=0-<C@5. 1. @02>2K5 >A=>20=8O ?@>D8;0:B8:8 45BA:>3> =51;03>?>;CG8O 2 A>2@5<5==>9 >AA88  =>2KE A>F80;L=>-M:>=><8G5A:8E CA;>28OE, 2>?@>A > ?@>AB>< 2>A?@>872>4AB25 >1I5AB20 8 A>E@0=5=8O 2 =5< D5=><5=0 45BAB20 O2;O5BAO :@05C3>;L=K< :0: 4;O =0C:8, B0: 8 4;O ?@0:B8:8. @>B82>@5G82K9 ?CBL >B@8F0=8O @>;8 8 <5AB0 :><<C=8AB8G5A:>3> 2>A?8B0=8O 2 A8AB5<5 >1I5AB25==KE >B=>H5=89, ?@>945==K9 @>AA89A:>9 ?5403>38G5A:>9 =0C:>9 8 >1I5AB25==>ABLN, ?@82>48B ?5403>38G5A:>5 A>>1I5AB2> : ?>=8<0=8N ?@8>@8B5B=>AB8 2>A?8B0=8O :0: "DC=:F88 A>F8>:C;LBC@=>3> 2>A?@>872>4AB20 G5;>25:0" (.. 5;O520). >2K5 A>F80;L=>-M:>=><8G5A:85 8 A>F80;L=>-?A8E>;>38G5A:85 @50;88 B@51CNB @0AA<>B@5=8O 2>?@>A0 > 70I8B5 45BAB20, > A>F80;L=>-?5403>38G5A:>9 @01>B5 A 45BL<8 A ?>78F89 A>>B=5A5=8O ?@8>@8B5B=KE 7040G 2>A?8B0=8O 8 @50;L=KE 2>7<>6=>AB59 H:>;K 2 A>F80;L=>< 2>A?8B0=88 ?>4@0AB0NI53> ?>:>;5=8O. >;57=5==K9, AB8E89=K9 ?@>F5AA "A1@>A0" @>AA89A:8< 3>AC40@AB2>< 2A59 ?>;=>BK >B25BAB25==>AB8 70 2>A?8B0=85 @515=:0 H:>;5, >15A?5G5==>9 <8=8<0;L=>9 ?>445@6:>9 >1I5AB20, 4> :@09=>AB8 >1>AB@8; 2>?@>A >1 >B25BAB25==>AB8 H:>;K ?5@54 3>AC40@AB2>< 2 ?>43>B>2:5 @515=:0 : 1C4CI5<C.  B> 65 2@5<O B5=45=F88 @0728B8O A>AB>O=8O 45BAB20 2 >AA88 >B@060NB >1ICN =5045:20B=>ABL >B=>H5=89 A5<L8 8 >1I5AB20 : @515=:C. -B8 >B=>H5=8O <>6=> >E0@0:B5@87>20BL :0: B5E=>;>38G5A:CN >H81:C, A8AB5<=> ?>@>640NICN >B:;>=5=8O 8 ?@>1;5<K 2 @0728B88 @515=:0. ?@>G5<, MB8 ?@54?>;>65=8O 0@3C<5=B8@>20=> ?>4B25@640NB F8D@K 8 D0:BK: - 0A?@>AB@0=5==>ABL 1KB>2>3> ?LO=AB20 A@548 =5A>25@H5==>;5B=8E. ! 1997 ?> 2003 3. :>;8G5AB2> >D8F80;L=> 70@538AB@8@>20==KE =5A>25@H5==>;5B=8E, 1>;L=KE 0;:>3>;87<><, C25;8G8;>AL =0 73%. - #@>25=L ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E 2 2,5 @070 2KH5, G5< A@548 27@>A;KE. - "5<?K @>AB0 C?>B@51;5=8O =0@:>B8G5A:8E 25I5AB2 =5A>25@H5==>;5B=8<8 2KH5, G5< 2 AB0@H8E 3@C??0E. ! 1998 ?> 2002 3>4 C?>B@51;5=85 =0@:>B8:>2 A@548 27@>A;>3> =0A5;5=8O 2>7@>A;> 2 7 @07, B>340 :0: A@548 =5A>25@H5==>;5B=8E - 2 10 @07. G5284=>, GB> =530B82=0O 48=0<8:0 A>AB>O=8O ?A8E8G5A:>3> 8 D878G5A:>3> 74>@>2LO, 0 B0:65 @57:> 2>7@>AH89 C@>25=L ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E - @50:F8O =0 ?045=85 C@>2=O A>F80;L=>3> 1;03>?>;CG8O 8 70I8I5==>AB8 45B59. > 40==K< <8=8AB5@AB20 2=CB@5==8E 45; >AA89A:>9 $545@0F88, 424,3 BKA. ?>4@>AB:>2 A>AB>OB =0 CG5B5 2 >@30=0E 2=CB@5==8E 45;.  @>AA89A:>9 459AB28B5;L=>AB8 ?>O28;AO 8 ?>;CG8; 4>;3>2@5<5==CN ?@>?8A:C D5=><5= "C;8G=K5 45B8" (.. 50=), 8;8 157=047>@=K5 45B8, 2 A>>B25BAB288 A >1I5?@8=OB>9 B5@<8=>;>3859, "D5=><5= A>F80;L=>5 A8@>BAB2>". "#;8G=K5 45B8" - MB> 45B8 8 ?>4@>AB:8 2 2>7@0AB5 4> 18 ;5B, :>B>@K5, =5 8<5O 8;8 4065 8<5O A5<LN, 7=0G8B5;L=>5 2@5<O ?@>2>4OB =0 C;8F5, 8 8<5==> C;8F0 >:07K205B =0 =8E >A=>2>?>;030NI55 2;8O=85. >:070B5;L=K<8 =0 MB>< D>=5 O2;ONBAO @>AB 45BA:>9 ?@5ABC?=>AB8 8 45;8=:25=B=>3> ?>2545=8O (.. 50=). !@02=8B5;L=K9 0=0;87 G8A;0 =5A>25@H5==>;5B=8E, A>25@H82H8E ?@5ABC?;5=85 =0 10 000 G5;>25: ?> AB@0=0< !, 45<>=AB@8@C5B 01A>;NB=>5 ;845@AB2> >AA88 ?> MB><C ?>:070B5;N: - 2 >AA88 A>25@H5==> 189 ?@5ABC?;5=89 =0 10 000 G5;>25:; - 2 5;0@CA8 - 124; - =0 #:@08=5 - 91; - 2 75@109460=5, #715:8AB0=5, "0468:8AB0=5 - 9-14. @8 MB>< 2 AB@C:BC@5 ?@02>=0@CH5=89 ?@>87>H;8 :0G5AB25==K5 87<5=5=8O: - 2K@>A;> G8A;> C189AB2, A>25@H5==KE =5A>25@H5==>;5B=8<8 (18,5 %); - AB0;> 1>;LH5 C<KH;5==KE ?@8G8=5=89 2@540 74>@>2LN (27,3 %); - 2>7@>A;> G8A;> 87=0A8;>20=89 8 @071>52, A>25@HQ==KE =5A>25@H5==>;5B=8<8 (>:>;> 6 %).  ?>A;54=85 3>4K =01;N405BAO ?>AB>O==>5 A=865=85 C@>2=O >1@07>20==>AB8 =5A>25@H5==>;5B=8E, A>AB>OI8E =0 CG5B5 2  8 . '8A;>, 45B59, =5 8<5NI8E 4065 =0G0;L=>3> >1@07>20=8O, A@548 ?>4@>AB:>2-?@02>=0@CH8B5;59 A>AB02;O5B, ?> >@85=B8@>2>G=K< >F5=:0< , >:>;> B@5B8 >B >1I53> G8A;0 AB>OI8E =0 CG5B5. -B> 45B8, 2K42>@5==K5 =0 C;8FC 8 >1@5G5==K5 =0 C;8G=CN 687=L A5<L59. >259H8< O2;5=85< 2 687=8 A>2@5<5==>3> >1@07>20B5;L=>3> CG@5645=8O AB0; B0: =07K205<K9 "A:@KBK9 >BA52". !>2@5<5==0O H:>;0 ?KB05BAO >3@048BL A>F80;L=> =51;03>?>;CG=>3> CG5=8:0 >B C;8FK (1@>4O6=8G5AB20, ?@5ABC?;5=89 8 4@.) ?@8 ?><>I8 D>@<0;L=>3> ?@8:@5?;5=8O 53> : >1@07>20B5;L=><C CG@5645=8N.  A>>B25BAB288 A $ "1 >1@07>20=88", H:>;0 ?KB05BAO 25@=CBL (?>A048BL 70 ?0@BC) >B 1 4> 2,5 <;=. 45B59, >:0702H8EAO =0 C;8F5 2 ?>A;54=55 2@5<O.  B>65 2@5<O >BGQBK H:>; 2 >@30=K >1@07>20=8O ?> B0: =07K205<><C 2A5>1CGC 3>2>@OB 5420 ;8 =5 > AB>?@>F5=B=>< 2K?>;=5=88 40==>3> 70:>=0, GB> 40;5:> >B 459AB28B5;L=>3> ?>;>65=8O 45;. !@548 4@C38E D0:B>@>2 @>AB0 G8A;0 45B59 "3@C??K @8A:0" 8AA;54>20B5;8 (.. >@=52, .. 0@0<>=>20, .. !04>2=8:>20 8 4@.) 2K45;ONB =0A8;85 2 A5<L5. > 40==K< !04>2=8:>20 .., 5653>4=> 2 >AA88 >:>;> 50 000 45B59 8 ?>4@>AB:>2 ?>:840NB A5<L8 87-70 =0A8;LAB25==KE 459AB289 A> AB>@>=K @>48B5;59. "0:, ?> @57C;LB0B0< :@8<8=>;>38G5A:8E 8AA;54>20=89, 2 =0AB>OI55 2@5<O 30-40 % 2A5E BO6:8E =0A8;LAB25==KE ?@5ABC?;5=89 A>25@H0NBAO 2 A5<L5. @8 MB>< 70% 2A5E 65@B2 BO6:8E =0A8;LAB25==KE ?>AO30B5;LAB2, A>25@H5==KE 2 A5<L5, - MB> 65=I8=K 8 45B8. > 40==K< ><8AA88 ?> 45;0< 65=I8=, A5<L8 8 45<>3@0D88 ?@8 @57845=B5 $ 87 35 <;=. @>AA89A:8E 45B59 5653>4=> >:>;> 2 <;=. 871820NBAO @>48B5;O<8. ;O 10% 87 =8E @57C;LB0B>< 65AB>:>3> >1@0I5=8O @>48B5;59 AB0=>28BAO A<5@BL, 4;O 2000 - A0<>C189AB2>, 0 50 000 CE>4OB 87 4><0 (.. 0;8104>20). !>>B25BAB25==>, <K 2K=C645=K 3>2>@8BL > B><, GB> A>2@5<5==>5 ?>;>65=85 A5<L8 2 @>AA89A:>< >1I5AB25 =5 ?>72>;O5B ?@54AB02;OBL 55 2 :0G5AB25 8=AB8BCB0 70I8BK ?@02 8 8=B5@5A>2 45B59. 5;8: ?@>F5=B A5<59, :>B>@K5 =5>1E>48<> >B=5AB8 : @07@O4C =51;03>?>;CG=KE. @8 MB>< A?5:B@ >A>15==>AB59 ?;>E>3> >1@0I5=8O @>48B5;59 A> A2>8<8 45BL<8 H8@>: - >B 157>B25BAB25==>3> >B=>H5=8O : 8E 157>?0A=>AB8, 4> 65AB>:>3> >1@0I5=8O 8 4065 45B>C189AB20 (102 A;CG0O 2 1990 3. 8 231 - 2 2000 3.). !53>4=O, A?5F80;8AB0<8 2K45;ONBAO 4 >A=>2=K5 D>@<K 65AB>:>3> >1@0I5=8O @>48B5;59 A 45BL<8: - D878G5A:>5 =0A8;85; - A5:AC0;L=>5 =0A8;85; - ?A8E8G5A:>5 (M<>F8>=0;L=>5) =0A8;85; - ?@5=51@565=85 =C640<8 @515=:0 (<>@0;L=0O 65AB>:>ABL).  =0AB>OI55 2@5<O B@51C5BAO 3;C18==>5 87CG5=85 =5 AB>;L:> ?@8G8==>9 >1CA;>2;5==>AB8 A>25@H5=8O =0A8;8O 2 A5<L5, A:>;L:> >A>15==>AB8 ?@>O2;5=8O =0A8;8O 2 A5<L5. 5@5G5=L E0@0:B5@8AB8: CEC4H0NI8E A>F80;L=>5 8 ?A8E>;>38G5A:>5 1;03>?>;CG85 45B59 2 A>2@5<5==>9 >AA88 =5 8AG5@?K205BAO =0AB>OI8<8 40==K<8.  =8< A;54C5B >B=5AB8 B0:65 A5:AC0;L=>5 =0A8;85 =04 45BL<8 8 ?>4@>AB:0<8, 48=0<8:C 87<5=5=8O ?>;>65=8O A5<L8 2 F5;><, @O4 4@C38E ?0@0<5B@>2. !8BC0F8O 45BA:>3> =51;03>?>;CG8O 2 %010@>2A:>< :@05 ?> A2>8< B5=45=F8O< =5 <=>38< >B;8G05BAO >B >1I5@>AA89A:>9, => 745AL 5ABL A2>8 >A>15==>AB8.  G0AB=>AB8 >G5=L B@52>6=>9 O2;O5BAO 45<>3@0D8G5A:0O A8BC0F8O, A2O70==0O A A>:@0I5=85< @>6405<>AB8, C25;8G5=85< A<5@B=>AB8 B@C4>A?>A>1=>3> =0A5;5=8O, 2=CB@5==59 <83@0F859 =0A5;5=8O :@0O. #45;L=K9 2>7@0AB 45B59 8 ?>4@>AB:>2 2 A>F80;L=>9 AB@C:BC@5 >1I5AB20 2 %010@>2A:>< :@05 A>AB02;O5B 74.0%, 2 B> 2@5<O :0: 2 A@54=5< ?> >AA88  79.4%. 0 ?5@8>4 1992-2001 3>4 =0A5;5=8O 2 2>7@0AB5 <>;>65 B@C4>A?>A>1=>3> AB0;> =0 0;L=5< >AB>:5 <5=LH5 =0 0.7 <;=. G5;>25: (2.2 <;=. G5;. 2 2002 3. 8 1.5 <;=. G5;. 2 2001 3.). G5=L A;>6=>9 >AB0QBAO A8BC0F8O ?> B0: =07K205<K< A>F80;L=K< 1>;57=O< A@548 45B59 8 ?>4@>AB:>2. A;8 2 %010@>2A:>< :@05 87 100 000 ?>4@>AB:>2 2 2>7@0AB5 15-17 ;5B 2 1992 3. 701>;5;8 =0@:><0=859 13.3 G5;>25:, B> 2 2000 3.  61.4. 0 MB>B ?5@8>4 A8D8;8A>< 70@078;8AL A>>B25BAB25==> 13.3 8 247.1 G5;>25:; ?A8E8G5A:8<8 @0AAB@>9AB20<8 236.0 8 589.5 G5;>25:. 4=8< 87 3;02=KE D0:B>@>2 701>;520=8O 45B59 27@>A;K<8 1>;57=O<8 CGQ=K5 ?@87=0NB =51;03>?>;CG85 45B59 2 A5<L5, A2O70==>5 A =0A8;85<, ?@5=51@565=85< 8E =C640<8, 0;:>3>;87<>< 8 =0@:><0=859 @>48B5;59. >MB><C =5 A;CG09=> @0ABQB G8A;> 45B59 >B>1@0==KE C @>48B5;59 2A;54AB285 ;8H5=8O @>48B5;LA:8E ?@02 (2 2000 3. 872 @51Q=:0 ?@>B82 312 2 1995 3.) 8 25;8:0 G8A;5==>ABL >AB0QBAO 2KO2;5==KE 45B59, >AB02H8EAO 157 ?>?5G5=8O @>48B5;59 (1610 45B59 2 2000 3. 8 1633 @51Q=:0 2 1995 3.)  /0==K5 ?@82>4OBAO 87 :>;;5:B82=>9 <>=>3@0D88 - 5BA:0O 15A?@87>@=>ABL 8 157=047>@=>ABL: A>AB>O=85 8 ?@>1;5<K. %010@>2A:, 2003. !. 75./ > 40==K<  :@0O G8A;> ?@5ABC?;5=89 A@548 =5A>25@H5==>;5B=8E 2 2002-2003 3.3. AB0;> A=860BLAO. <5AB5 A B5< ?@8 A>:@0I5=88 BO6:8E ?@5ABC?;5=89 A2O70==KE A ?@8G8=5=85< BO6Q;>3> 2@540 74>@>2LN, @071>O<8, :@060<8 8<CI5AB20 2K@>A;> G8A;> ?@5ABC?;5=89 ?> =570:>==><C A1KBC =0@:>B8:>2 A@548 =5A>25@H5==>;5B=8E (+ 9.4%). 5A<>B@O =0 A=865=85 ?@5ABC?;5=89 A>25@HQ==KE 2 3@C??0E 8E C45;L=K9 25A A>AB02;O5B 5IQ 7=0G8B5;L=CN 4>;N  48.0%.  2002 3>4C >@30=0<8 2=CB@5==8E 45; 2KO2;5=> 1420 ?>4@>AB:>2, 2E>4OI8E 2 A>AB02 542 0=B8>1I5AB25==KE 3@C?? (2001 3.  1687 8 636 A>>B25BAB25==>). !53>4=O ?@8>@8B5B=K<8 =0?@02;5=8O<8 2 45OB5;L=>AB8 >@30=>2 2=CB@5==8E 45; ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E >1>7=0G5=K: ?@54C?@5645=85 3@C??>2>9 8 ?>2B>@=>9 ?@5ABC?=>AB8, ?@5A5G5=85 157=047>@=>AB8 8 15A?@87>@=>AB8 =5A>25@H5==>;5B=8E /B0< 65 !. 171-172/. @82>4O MB8 40==K5, <K AB028;8 F5;LN - 4>18BLAO >A>7=0=8O >@30=0<8 C?@02;5=8O >1@07>20=85< =5>1E>48<>AB8 =5 ?@>AB> ?>=8<0=8O A;>6=>AB8 ?@>F5AA0 2>A?8B0=8O 45B59 3@C??K A>F80;L=>3> @8A:0, 8E 2>72@0I5=8O 2 >1I5AB2>, 0 =5>1E>48<>AB8 ?@0:B8G5A:>9 ?>43>B>2:8 A?5F80;8AB>2 : ?@>D8;0:B8G5A:>9 45OB5;L=>AB8 8 ?@525=B82=K< <5@0< ?> ?@54C?@5645=8N A>F80;L=KE ?0B>;>389 2 ?>4@>AB:>2>9 A@545. @8=OB85 ?@>D8;0:B8:8 ?@02>=0@CH5=89 8 @5F8482>2 A@548 ?>4@>AB:>2 2 :0G5AB25 AB0@B>2>9 ?>78F88 2 =0AB>OI8E CA;>28OE - ?5@2K9 ?>:070B5;L 8 B@51>20=85 : =>2><C A>F80;L=><C 8 ?5403>38G5A:><C ?@>D5AA8>=0;87<C 2 ?>445@6:5 45B59, =C640NI8EAO 2 ?><>I8 3>AC40@AB20. !8AB5<0 @01>BK ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 8 @5F8482>2 A@548 =5A>25@H5==>;5B=8E, 2>7=8:05B 8 @0728205BAO 2 ?5@2CN >G5@54L B0<, 345 ?@>8AE>48B =5?>A@54AB25==>5 2708<>459AB285 A 45BL<8 8 8E ?@>1;5<0<8. <5==> ?>MB><C 4;O 02B>@>2 =0AB>OI59 @01>BK ?@8=F8?80;L=> 206=> 2 0=0;875 <=>3>>1@07=KE D>@< 8 A?>A>1>2 >:070=8O ?><>I8 45BO< =09B8 8 >1>A=>20BL A8AB5<C @01>BK A?5F80;8AB>2, >15A?5G820NI8E ?@>D8;0:B8G5A:CN 45OB5;L=>ABL A@548 ?>4@>AB:>2 - ?@02>=0@CH8B5;59. 0AA<>B@8< ?@02>2K5 >A=>20=8O 2 >@30=870F88 45OB5;L=>AB8 H:>;K ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 (8;8 @5F8482>2) A@548 ?>4@>AB:>2. ;O MB>3> ?@>0=0;878@C5< :><?>=5=BK >1I53>AC40@AB25==>9 A8AB5<K @01>BK A 45BL<8 3@C??K @8A:0 8 2KG;5=8< B@51>20=8O : @01>B5 A?5F80;8AB>2, 70=8<0NI8EAO MB>9 ?@>1;5<>9. 1I53>AC40@AB25==0O A8AB5<0 @01>BK A 45BL<8 3@C??K @8A:0 ?@54AB02;5=0 2 B5:AB0E @>AA89A:8E 70:>=>2 "1 >A=>20E A>F80;L=>3> >1A;C6820=8O =0A5;5=8O", "1 >A=>20E A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89", "1 >A=>2=KE 30@0=B8OE ?@02 @515=:0 2 >AA89A:>9 $545@0F88", 0 B0:65 2 3>AC40@AB25==KE 8 @538>=0;L=KE ?@>3@0<<0E ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E.  =0H5< ?>A>188, <K 1>;55 ?@8AB0;L=>5 2=8<0=85 C45;8< $ "1 >A=>20E A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89".  :0G5AB25 >A=>2=KE 7040G 8 ?@8=F8?>2 45OB5;L=>AB8 ?> ?@>D8;0:B8:5 157=047>@=>AB8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E 2 40==>< 70:>=5 2KABC?0NB A;54CNI85 (A<.: AB. 2): - ?@54C?@5645=85 157=047>@=>AB8, 15A?@87>@=>AB8 ?@02>=0@CH5=89 8 0=B8>1I5AB25==KE 459AB289 =5A>25@H5==>;5B=8E, 2KO2;5=85 8 CAB@0=5=85 ?@8G8= 8 CA;>289 A?>A>1AB2CNI8E MB><C; - >15A?5G5=85 70I8BK ?@02 8 70:>==KE 8=B5@5A>2 =5A>25@H5==>;5B=8E; - A>F80;L=>-?5403>38G5A:0O @5018;8B0F8O =5A>25@H5==>;5B=8E, =0E>4OI8EAO 2 A>F80;L=> >?0A=>< ?>;>65=88; - 2KO2;5=85 8 ?@5A5G5=85 A;CG052 2>2;5G5=8O =5A>25@H5==>;5B=8E 2 A>25@H5=85 ?@5ABC?;5=89 8 0=B8>1I5AB25==KE 459AB289. @8 MB>< 2 70:>=5 CB>G=5=K ?@8=F8?K >@30=870F88 ?@>D8;0:B8G5A:>9 @01>BK, GB> 8<55B 7=0G5=85 ?@8 A>>B=5A5=88 A>F80;L=>-?5403>38G5A:8E 8 C?@02;5=G5A:8E ?>4E>4>2 2 @5H5=88 ?@>1;5< 157=047>@=>AB8 8 ?@02>=0@CH5=89 =0 3>AC40@AB25==>< C@>2=5.  A>>B25BAB288 A ?. 2 A. 2 : =8< >B=5A5=K: - 70:>==>ABL; - 45<>:@0B87<; - 3C<0==>5 >1@0I5=85 A =5A>25@H5==>;5B=8<8; - ?>445@6:0 A5<L8 8 2708<>459AB285 A =59; - 8=48284C0;L=K9 ?>4E>4 : 8A?@02;5=8N =5A>25@H5==>;5B=8E A A>1;N45=85< :>=D845=F80;L=>AB8 ?>;CG5==>9 8=D>@<0F88; - 3>AC40@AB25==0O ?>445@6:0 45OB5;L=>AB8 >@30=>2 <5AB=>3> A0<>C?@02;5=8O 8 >1I5AB25==KE >1J548=5=89 ?> ?@>D8;0:B8:5 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E; - >15A?5G5=85 >B25BAB25==>AB8 4>;6=>AB=KE ;8F 8 3@0640= 70 =0@CH5=85 ?@02 8 70:>==KE 8=B5@5A>2 =5A>25@H5==>;5B=8E. 0:>= "1 >A=>20E A8AB5<K ?@>D8;0:B8:8& " @0AA<0B@8205B 2 :0G5AB25 >1J5:B0 =5A>25@H5==>;5B=53> 157>B=>A8B5;L=> : 53> >1@07>20B5;L=><C 8;8 A>F80;L=><C AB0BCAC, => ?@>2>73;0H05B 70I8BC 53> ?@02 2 :>=B5:AB5 7040G ?@>D8;0:B8:8. <5==> 745AL 70:>=>40B5;5< 2KG;5=5=K A?5F8D8G5A:85 ?@87=0:8 3@C?? 45B59 - >1J5:B>2 ?@>D8;0:B8G5A:>9 @01>BK, 0 8<5==>: - 157=047>@=K9 - =5A>25@H5==>;5B=89, :>=B@>;L, 70 ?>2545=85< :>B>@>3> >BACBAB2C5B 2A;54AB285 =58A?>;=5=8O 8;8 =5=04;560I53> 8A?>;=5=8O >1O70==>AB59 ?> 53> 2>A?8B0=8N, >1CG5=8N 8/8;8 A>45@60=8N A> AB>@>=K @>48B5;59 8;8 70:>==KE ?@54AB028B5;59 ;81> 4>;6=>AB=KE ;8F; - 15A?@87>@=K9 - 157=047>@=K9, =5 8<5NI89 <5AB0 68B5;LAB20 8/8;8 <5AB0 ?@51K20=8O; - =5A>25@H5==>;5B=89, =0E>4OI89AO 2 A>F80;L=> >?0A=>< ?>;>65=88 - ;8F> 2 2>7@0AB5 4> 18 ;5B, :>B>@>5, 2A;54AB285 157=047>@=>AB8 8;8 15A?@87>@=>AB8, =0E>48BAO 2 >1AB0=>2:5, ?@54AB02;ONI59 >?0A=>ABL 4;O 53> 687=8 8;8 74>@>2LO, ;81> =5 >B25G0NI59 B@51>20=8O< : 53> 2>A?8B0=8N 8;8 A>45@60=8N, ;81> A>25@H05B ?@02>=0@CH5=85 8;8 0=B8>1I5AB25==K5 459AB28O; - A5<L59, =0E>4OI59AO 2 A>F80;L=> >?0A=>< ?>;>65=88, AG8B05BAO B0:0O A5<LO, 345 45B8 =0E>4OBAO 2 A>F80;L=> >?0A=>< ?>;>65=88, 0 B0:65, 345 @>48B5;8 8;8 70:>==K5 ?@54AB028B5;8 =5A>25@H5==>;5B=8E =5 8A?>;=ONB A2>8E >1O70==>AB59 ?> 8E 2>A?8B0=8N, >1CG5=8N 8/8;8 A>45@60=8N 8/8;8 >B@8F0B5;L=> 2;8ONB =0 8E ?>2545=85 ;81> 65AB>:> >1@0I0NBAO A =8<8. @8 MB>< ?@>D8;0:B8:0 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E @0AA<0B@8205BAO :0: A8AB5<0 A>F80;L=KE, ?@02>2KE, ?5403>38G5A:8E 8 8=KE <5@, =0?@02;5==KE =0 2KO2;5=85 8 CAB@0=5=85 ?@8G8= 8 CA;>289, A?>A>1AB2CNI8E ?@02>=0@CH5=8O< 8 0=B8>1I5AB25==K< 459AB28O< =5A>25@H5==>;5B=8E. =48284C0;L=0O ?@>D8;0:B8G5A:0O @01>B0 - 45OB5;L=>ABL ?> A2>52@5<5==><C 2KO2;5=8N =5A>25@H5==>;5B=8E, =0E>4OI8EAO 2 A>F80;L=> >?0A=>< ?>;>65=88, 0 B0:65 8E A>F80;L=>-?5403>38G5A:>9 @5018;8B0F88 8 ?@54C?@5645=8N A>25@H5=8O 8<8 ?@02>=0@CH5=89 8 0=B8>1I5AB25==KE 459AB289. 0:>=>< ?@54CA<>B@5=0 8 >?@545;5==0 >B25BAB25==>ABL ;8F 70 @0A?@>AB@0=5=85 :>=D845=F80;L=>9 8=D>@<0F88 > @515=:5, 45:;0@8@C5BAO =52<5H0B5;LAB2> 2 687=L A5<L8, 0 B0:65 CB>G=5=K CA;>28O 2<5H0B5;LAB20 3>AC40@AB20 2 ?@>F5AA 2>A?8B0=8O @515=:0. ?5@2K5 2 @>AA89A:>9 ?@0:B8:5 ?@>D8;0:B8G5A:>9 @01>BK ?@8>@8B5BK =0:070=8O 8 >B25BAB25==>3> 2>7459AB28O =0 @515=:0, =5A>25@H5==>;5B=53>, A>25@H82H53> ?@>B82>?@02=K5 459AB28O, CABC?8;8 <5AB> A>F80;L=>-?5403>38G5A:>9 @01>B5 ?> 2KO2;5=8N 8 ?@54C?@5645=8N ?@8G8= 8 459AB289 A> AB>@>=K =5A>25@H5==>;5B=53>, :>B>@K5 <>3;8 1K :20;8D8F8@>20BLAO :0: ?@>B82>?@02=K5, 0=B8>1I5AB25==K5.  B>65 2@5<O, @>;L 8 ?>;=><>G8O A5<L8 =0AB>;L:> 0<>@D=> ?@54AB02;5=K 2 @5H5=85 ?@>1;5< ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E, GB> ?@0:B8:0 @50;870F88 0:>=0 "1 >A=>20E ?@>D8;0:B8:8& " 2KO28;0 D5=><5=: =52>7<>6=>ABL ?@82;5G5=8O A5<L8 : @50;L=>9 >B25BAB25==>AB8 70 >BACBAB285 2>A?8B0=85 @515=:0, 70 A>740=85 C3@>7K 53> 687=8 8 74>@>2LN. 0:>=>40B5;5< ?@54CA<>B@5=K CA;>28O @0725@BK20=8O 8=48284C0;L=>9 ?@>D8;0:B8G5A:>9 @01>BK 2 >B=>H5=88 =5A>25@H5==>;5B=53>, :>B>@0O @5H05B :0: <8=8<C< 425 7040G8: - >@30=870F8O 04@5A=>9 @01>BK A 45BL<8, :>B>@K5 A>25@H8;8 8;8 <>3CB A>25@H8BL ?@>B82>?@02=K5 459AB28O; - 70I8B0 ?@02 =5A>25@H5==>;5B=8E, ?5@5H54H8E 3@0=L 70:>=>?>A;CH=>3> ?>2545=8O 8 >:0702H8EAO 2 7>=5 @8A:0. > ?>A:>;L:C 254><AB25==0O @07>1I5==>ABL 2 @5H5=88 MB8E 7040G 83@05B :@09=5 =530B82=CN @>;L, B> >@30=870B>@>< 8=48284C0;L=>9 ?@>D8;0:B8G5A:>9 @01>BK 2 >B=>H5=88 45B59 40==>9 3@C??K G0I5 2A53> 2848BAO B>;L:> H:>;0. %>BO 2 A>>B25BAB288 A 0:>=>< "1 >A=>20E A8AB5<K ?@>D8;0:B8:8& " : AC1J5:B0<, @50;87CNI8< ?@>D8;0:B8G5A:CN 45OB5;L=>ABL, >B=5A5=K: - >@30=K A>F80;L=>9 70I8BK =0A5;5=8O; - >@30=K >?5:8 8 ?>?5G8B5;LAB20; - >@30=K ?> 45;0< <>;>4568; - >@30=K 74@02>>E@0=5=8O; - >@30=K 2=CB@5==8E 45;; - :><8AA8O ?> 45;0< =5A>25@H5==>;5B=8E; - >@30=K >1@07>20=8O.  >?OBL 2 A>AB025 AC1J5:B>2 =5 ?@>A<0B@8205BAO A5<LO, GB>, 2 :>=5G=>< AG5B5, :0: ?>:07K205B ?@0:B8:0, ?@>2>F8@C5B @0728B85 D>@< >B:;>=ONI53>AO ?>2545=8O 8 45BA:>3> =51;03>?>;CG8O :0: B0:>2>3>. @>B82>@5G82K<8 8 B@C4=>2K?>;=8<K<8 ?@54AB02;ONBAO 2 MB8E CA;>28OE >1O70==>AB8 H:>;K, 81> 8<5==> 59 >B2>48BAO ACI5AB25==>5 <5AB> 2 ?;0=8@>20=88 8 >@30=870F88 459AB289 2 >1I59 A8AB5<5 ?@>D8;0:B8:8. 1 MB>< @5GL ?>945B 40;55. 2. >;L 8 7=0G5=85 H:>;K 2 ?@>D8;0:B8:5 ?@02>=0@CH5=89 8;8 8E @5F8482>2 A@548 =5A>25@H5==>;5B=8E (:>;0 2 >AA88 B@048F8>==> 83@05B >?@545;ONICN @>;L 2 2>A?8B0=88 8 @0728B88 ?@54AB02;5=89 ?>4@0AB0NI53> ?>:>;5=8O > ?5@A?5:B820E 8 F5==>ABOE 687=8. > ?@8=OB8O 2 1999 3. $ "1 >A=>20E A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E" H:>;0 >AB0;0AL 2 <0;>< G8A;5 3>AC40@AB25==KE CG@5645=89, =5 ?>425@3H8EAO 87<5=5=8N 2 E>45 ?@5>1@07>20=89 2 @>AA89A:>< >1I5AB25 2 =0G0;5 90-E 3>4>2.  A>25BA:>9 3>AC40@AB25==>9 A8AB5<5 H:>;0 >1;040;0 A5@L57=K<8 ?>;=><>G8O<8 2 2>?@>A0E :>=B@>;O CA;>289 ?@>6820=8O, >1CG5=8O, 2>A?8B0=8O 8 B@C4>CAB@>9AB20 ?>4@>AB:>2. K?>;=OO DC=:F8N :>=B@>;O 8 @07@5H5=8O >AB@KE ?@>1;5< 45B59, >=0 @50;87>20;0 2>A?8B0B5;L=K9 ?@>F5AA 2 <8:@>@09>=5, => 1>;55 2A53> >ACI5AB2;O;0 DC=:F88 2>A?8B0=8O 8 >1CG5=8O 45B59 2 H:>;5 8 ?@82;5G5=8O : >B25BAB25==>AB8 ?>4@>AB:>2 8 @>48B5;59, 4>?CAB82H8E >1I5AB25==K5 ?@>ABC?:8 8 ?@02>=0@CH5=8O.  A>>B25BAB288 A> AB. 14,15 $ "1 >A=>20E 3>AC40@AB25==>9 A8AB5<K ?@>D8;0:B8:8& " <8AA8O 8 7040G8 >1@07>20B5;L=>3> CG@5645=8O >?@545;5=K A;54CNI8< >1@07><: - >:070=85 A>F80;L=>-?A8E>;>38G5A:>9 8 ?5403>38G5A:>9 ?><>I8 =5A>25@H5==>;5B=8<, 8<5NI8< >B:;>=5=8O 2 @0728B88 8;8 ?>2545=88 ;81> ?@>1;5<K 2 >1CG5=88; - 2KO2;5=85 =5A>25@H5==>;5B=8E, =0E>4OI8EAO 2 A>F80;L=> >?0A=>< ?>;>65=88, 0 B0:65 =5 ?>A5I0NI8E 8;8 A8AB5<0B8G5A:8 ?@>?CA:0NI8E ?> =5C2068B5;L=K< ?@8G8=0< H:>;C, ?@8=OB85 <5@ ?> 8E 2>A?8B0=8N 8 ?>;CG5=8N 8<8 >A=>2=>3> >1I53> >1@07>20=8O; - 2KO2;5=85 A5<59, =0E>4OI8EAO 2 A>F80;L=> >?0A=>< ?>;>65=88, 8 >:070=85 8< ?><>I8 2 >1CG5=88 8 2>A?8B0=88 45B59; - >15A?5G5=85 >@30=870F88 2 H:>;5 A?>@B82=KE A5:F89, B5E=8G5A:8E 8 8=KE :@C6:>2, :;C1>2 8 ?@82;5G5=85 : CG0AB8N 2 =8E =5A>25@H5==>;5B=8E; - >ACI5AB2;5=85 <5@ ?> @50;870F88 ?@>3@0<< 8 <5B>48:, =0?@02;5==KE =0 @0728B85 70:>=>?>A;CH=>3> ?>2545=8O =5A>25@H5==>;5B=8E. $545@0;L=K9 0:>= "1 >A=>2=KE 30@0=B8OE ?@02 @515=:0 2 >AA89A:>9 $545@0F88" @0AA<0B@8205B >1@07>20B5;L=>5 CG@5645=85 2 :0G5AB25 254CI53> A>F80;L=>3> 8=AB8BCB0 45BA:>3> ?@02>?>;L7>20=8O 8 ?@02>?@8<5=5=8O. "0:8< >1@07><, A>2@5<5==>5 @>AA89A:>5 70:>=>40B5;LAB2> >?@545;8;> @>;L 8 <5AB> H:>;K 2 :0G5AB25 @50;L=>3> >1I5AB25==>3> 8 3>AC40@AB25==>3> 8=AB8BCB0, >15A?5G820NI53> @50;870F8N 206=59H8E ?@02 45B59 =0 687=L, >1@07>20=85, 74>@>2L5, =0 A0<>@50;870F8N. 7<5=5=8O, 2=5A5==K5 2 $ "1 >1@07>20=88" 2 1996 3., :0: 8 A>45@60=85 $ "1 >A=>20E A8AB5<K ?@>D8;0:B8:8& " ?>AB028;8 B>G:C 2 48A:CAA88 > =5>1E>48<>AB8 2K?>;=OBL B@51>20=8O 2A5>1CG0 2 A>2@5<5==>9 H:>;5 8 A>E@0=OBL :>=B8=35=B >1CG0NI8EAO, =5A<>B@O =0 ;8G=>AB=K5 B@C4=>AB8 2 8E ?>2545=88 8 @0728B88.  MB>9 A2O78 70:>=>40B5;L ?>4G5@:=C; >1I5AB25==CN <8AA8N H:>;K - <8AA8N ?5403>38G5A:>3> A>?@>2>645=8O @515=:0 2 @50;870F88 53> ?@020 =0 >1@07>20=85. 07@5H5= A?>@ > A>>B=>H5=88 >1@07>20B5;L=>9 8 2>A?8B0B5;L=>9 45OB5;L=>AB8 2 A>2@5<5==>< >1@07>20B5;L=>< CG@5645=88. >A?8B0=85< ?>-?@56=5<C 70=8<05BAO H:>;0, 8 >=> >AB05BAO A>45@60=85< ?5403>38G5A:>3> 2708<>459AB28O. 0 A53>4=O, >1@07>20B5;L=>5 CG@5645=85 >AB05BAO ?@0:B8G5A:8 548=AB25==K< AB018;L=> 459AB2CNI8< A>F80;L=K< 8=AB8BCB><, A?>A>1=K< >15A?5G8BL 7040G8 ?5403>38G5A:>9 ?@>D8;0:B8:8 - :>=F5=B@0F8N ?5403>38G5A:>3> 2=8<0=8O 8 >@30=870F8N 4>;6=>3> ?@>D5AA8>=0;L=>-?5403>38G5A:>3> A>?@>2>645=8O 45B59 2 ?@>F5AA5 ?>;CG5=8O >1@07>20=8O. 57CA;>2=>, @5H5=85 ?@>1;5< 45B59 =0E>4OI8EAO 2 A>F80;L=>->?0A=>< ?>;>65=88 (45B59 B0: =07K205<>9 3@C??K A>F80;L=>3> @8A:0) =0E>48BAO 2 >1I59 :><?5B5=F88 AC1J5:B>2 A8AB5<K ?@>D8;0:B8:8. <5AB5 A B5< C H:>;K 5ABL A2>8 2>7<>6=>AB8 4;O :><?;5:A=>3> A>?@>2>645=8O @0728B8O @51Q=:0 40==>9 3@C??K. ><?;5:A=>5 A>?@>2>645=85 :0: A>F80;L=>-?5403>38G5A:0O B5E=>;>38O >ACI5AB2;O5BAO =0@O4C A ?@>D8;0:B8:>9 157=047>@=>AB8 8 ?@02>=0@CH5=89 8 ?> A2>59 ACB8 O2;O5BAO 2B>@8G=>9 ?@>D8;0:B8:>9, =0?@02;5==>9 =0 87<5=5=85 =51;03>?@8OB=KE CA;>289 A@54K 8 ;8G=>AB=>3> @0728B8O @51Q=:0, >:0702H53>AO 2 B@C4=>9 687=5==>9 A8BC0F88. !>?@>2>645=85 2:;NG05B @O4 ?>A;54>20B5;L=KE (2 =5:>B>@KE A;CG0OE ?5@5A5:0NI8EAO) 8 4>?>;=ONI8E 4@C3 4@C30 284>2 A>F80;L=>-?5403>38G5A:>9 45OB5;L=>AB8: - KO2;5=85 45B59 MB>9 :0B53>@88 2 45BA:>9 A@545 - >=8B>@8=3 A>F80;L=>9 A8BC0F88 @0728B8O - @30=870F8O @01>BK A 45BL<8 - @30=870F8O @01>BK A A5<LQ9 8 1;8609H8< >:@C65=85< @51Q=:0. ><?;5:A=>ABL ?@>1;5<, :>B>@K5 B@51CNB @5H5=8O 2 ?@>F5AA5 A>F80;L=>-?5403>38G5A:>9 @01>BK A 45BL<8 3@C??K @8A:0, B@51CNB CG0AB8O 2 MB>9 45OB5;L=>AB8 @07=KE A?5F80;8AB>2. 4=0:> 254CI0O @>;L, ?> =0H5<C <=5=8N, <>65B ?@8=04;560BL :><0=45 H:>;L=KE A?5F80;8AB>2. &5=B@0;L=0O @>;L H:>;K 2 MB>< ?@>F5AA5 >1JOA=O5BAO A;54CNI8<8 >1AB>OB5;LAB20<8: - 2>-?5@2KE, A8AB5<0 >1@07>20=8O A?>A>1=0 >BA;56820BL AC4L1C @51Q=:0 >B B@QE ;5B=53> 2>7@0AB0 (4> B@QE ;5B MBC @01>BC <>3CB 2K?>;=8BL @01>B=8:8 74@02>>E@0=5=8O 8 A?5F80;878@>20==KE 45BA:8E CG@5645=89) 4> <><5=B0 53> A>25@H5==>;5B8O; - 2>-2B>@KE, 2 CG@5645=8OE 4>H:>;L=>3>, 4>?>;=8B5;L=>3>, >A=>2=>3> 8 A?5F80;L=>3> >1@07>20=8O 45B59 5ABL A?5F80;8ABK, :>B>@K5 ?@8 =5:>B>@>< 4>?>;=8B5;L=>< >1CG5=88, <>3CB :20;8D8F8@>20==> 2K?>;=OBL MBC @01>BC; - 2 B@5BL8E, 2 A8AB5<5 >1@07>20=8O ACI5AB2C5B >B@01>B0==0O A8AB5<0 ?>2KH5=8O :20;8D8:0F88 ?5403>3>2 8 A?5F80;8AB>2, >E20BK20NI0O ?@0:B8G5A:8 2A5 :><?5B5=F88, A2O70==K5 A >ACI5AB2;5=85< A>F80;L=>->@85=B8@>20==>3> >1CG5=8O 8 :><?;5:A=>9 ?><>I8 45BO< @07=KE 2>7@0AB>2; - 2 G5B2Q@BKE, H:>;0 8<55B 402=85 B@048F88 (<5B>4K, B5E=>;>388) @01>BK A @>48B5;O<8 8 ?@8 =5:>B>@>9 >?B8<870F88 MB>9 45OB5;L=>AB8 <>65B >?>A@54>20==> (2 =5:>B>@KE A;CG0OE =0?@O<CN) 2;8OBL =0 B5E @>48B5;59, :>B>@K5 =5MDD5:B82=> >ACI5AB2;ONB A2>8 @>48B5;LA:85 DC=:F88; - 2 ?OBKE, MB> CAB>O2H0OAO, ?@>25@5==0O 2@5<5=5< A8AB5<0 >1I5AB25==>3> 2>A?8B0=8O 8 >1@07>20=8O 45B59, 8<5NI0O A2>8 3C<0==K5 F5;8 (F5==>AB8) 8 045:20B=K5 @5H5=8N 2KH5 ?>AB02;5==KE 7040G A@54AB20, <5B>4K 8 B5E=>;>388. "0:8< >1@07><, ?5403>38 H:>;L=>9 :><0=4K <>3CB A2>52@5<5==> 2KO28BL 45B59 3@C??K @8A:0, >?@545;8BL A>F80;L=CN A8BC0F8N @0728B8O @51Q=:0, D0:B>@K @8A:0 2 53> >:@C65=88 8 @0728B88, @5AC@AK @51Q=:0 (2=CB@5==85 8 2=5H=85), @07@010BK20BL 8 @50;87>2K20BL 8=48284C0;L=CN ?@>3@0<<C A>?@>2>645=8O. 0 MB0?5 @50;870F88 ?@>3@0<< A>?@>2>645=8O H:>;5 F5;5A>>1@07=> 1K;> 1K ?@82;5:0BL B5E A?5F80;8AB>2, :>B>@K5 2 :><?;5:A5 A?>A>1=K 1>;55 MDD5:B82=> @5H0BL 2KO2;5==K5 ?@>1;5<K, :0: @51Q=:0, B0: 8 53> A5<L8. -B> ?>72>;8B A>74020BL ?@>ABCN, => MDD5:B82=CN A8AB5<C A>?@>2>645=8O, 0 =5 ?@>2>48BL >B45;L=K5 =5A>3;0A>20==K5 <5@>?@8OB8O. 5>1E>48<K< CA;>285< 4;O >ACI5AB2;5=8O A>?@>2>645=8O 4>;6=0 AB0BL ?5@540G0 ?>;=><>G89, A@54AB2 8 @5AC@A>2 >@30=0< 8 CG@5645=8O< >1@07>20=8O, :>B>@K5 8 >B25G0;8 1K 70 @57C;LB0BK MB>9 45OB5;L=>AB8. 0:07 =0 @07@01>B:C ?@>3@0<< 8 B5E=>;>389, :>=B@>;L =04 8E 8A?>;=5=85<, 0 B0:65 >1I89 0=0;87 A8BC0F88 2 :@05 (3>@>45, @09>=5) F5;5A>>1@07=> ?>@CG8BL :><8AA8O< ?> 45;0< =5A>25@H5==>;5B=8E @07;8G=KE C@>2=59. 081>;55 >?B8<0;L=K< @5H5=85<, =0 =0H 273;O4, 745AL O2;O5BAO >1J548=5=85 CA8;89 8 A>3;0A>20==KE 459AB289 :><8AA89 ?> 45;0< =5A>25@H5==>;5B=8E A 8E ?>;=><>G8O<8 8 04<8=8AB@0B82=K< @5AC@A>< A !>25B0<8 ?> ?@>D8;0:B8:5 :0: ?@54AB028B5;LA:8<8 >@30=870F8O<8, 0::C<C;8@CNI8<8 8 @0A?@545;ONI8<8 A@54AB20 ?>4 ?@>5:BK 8 F5;52K5 ?@>3@0<<K, >ACI5AB2;ONI8<8 <>=8B>@8=3 45BA:>3> =51;03>?>;CG8O 8 2K?>;=ONI8E @O4 4@C38E DC=:F89 =5 2E>4OI8E 2 :><?5B5=F8N . 5>1E>48<> >B40BL A515 >BG5B 8 2 B><, GB> 8=AB8BCB A5<L8 70 ?>A;54=85 15-20 ;5B ?>425@3AO <>I=K< 2>7459AB28O< 8 2;8O=8O<, :>B>@K5 =5 ?>72>;ONB <=>38< A5<LO< ?>;=>F5==> 2K?>;=OBL A2>8 @>48B5;LA:85 DC=:F88. %>BO, =5<0;>5 :>;8G5AB2> @>AA89A:8E A5<59 >B =8E ?>?@>ABC >B:070;8AL 4>1@>2>;L=>. <5==> ?>MB><C 0:BC0;L=>9 7040G59 A>2@5<5==>9 ?5403>38G5A:>9 =0C:8 8 ?@0:B8:8 AB0=>28BAO ?><>IL A5<L5 2 A>F80;870F88 @51Q=:0.  :0: >4=> 87 >A=>2=KE =0?@02;5=89 B0:>9 F5;5=0?@02;5==>9 ?><>I8 AB0=>28BAO 45OB5;L=>ABL ?> A>740=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 45280=B=>3> 8 048:B82=>3> ?>2545=8O H:>;L=8:0 8 2K2>4C 53> 87 A>F80;L=> >?0A=>9 A8BC0F88. 3. >45;L 45OB5;L=>AB8 H:>;K ?> A>740=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 @5F8482>2 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E @0:B8G5A:8 2 90-E 3>40E, A?5F80;8AB0<8, ?@8720==K<8 70=8<0BLAO 2>?@>A0<8 ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2 A@548 ?>4@>AB:>2, AB0;8 ?A8E>;>38. > ?>A:>;L:C 2 2>?@>A5 ?@>D8;0:B8G5A:>9 @01>BK A :>=B8=35=B>< "B@C4=KE" 45B59 ?>78F88 H:>;L=>3> ?A8E>;>388 2 <0AA>2>9 ?@0:B8:5 2 B5G5=85 2A5E 90-E 3>4>2 ?@>O2;O;8AL :@09=5 ?@>B82>@5G82>, B> 8<5==> 22545=85 4>;6=>AB8 8 AB02:8 A>F80;L=>3> ?5403>30 2 HB0BK >1@07>20B5;L=KE CG@5645=89 2>A?@8=8<0;>AL 2 1>;LH8=AB25 A;CG052 :0: 4>;3>640==0O <5@0, 2 A>>B25BAB288, A :>B>@>9 1>;LH8=AB2> 45B59 3@C??K @8A:0 1K;8 02B><0B8G5A:8 ?5@540=K 2 @C:8 =>2>3> A?5F80;8AB0.  A2>N >G5@54L, ?>;=0O ?5@540G0 A>F80;L=K< ?5403>30< ?@>D8;0:B8G5A:>9 @01>BK A B@C4=K<8 ?>4@>AB:0<8 ?>AB028;0 2>?@>A > 2>7<>6=>ABOE 8 >3@0=8G5=8OE =>2>3> A?5F80;8AB0 2 @5H5=88 A;>6=59H8E 7040G A>F80;L=>-?5403>38G5A:>9 ?@0:B8:8 8 53> M<>F8>=0;L=>< "A3>@0=88". > =5:>B>@K< 8AA;54>20=8O< (!.!. 8;L, .!. 0@BK=>2) 2 A2O78 A D878G5A:>9 8 ?A8E>;>38G5A:>9 =52>7<>6=>ABLN >ACI5AB2;OBL 2 >48=>G:C ?@>D8;0:B8G5A:CN 45OB5;L=>ABL A@548 45B59 "3@C??K @8A:0", ?@825;> : ?>O2;5=8N ?@>D5AA8>=0;L=KE 45D>@<0F89 A@548 A>F80;L=KE ?5403>3>2.  B>;L:> : =0G0;C 2001 - 2002 CG51=>3> 3>40 ?@>87>H;> >:>=G0B5;L=>5 ?@87=0=85 @>;8 8 <5AB0 A>F80;L=>3> ?5403>30 2 :0G5AB25 >4=>3> 87 A?5F80;8AB>2 AD5@K ?5403>38G5A:>9 ?@>D8;0:B8:8 (@8;>65=85 : ?@8:07C 8=8AB5@AB20 >1@07>20=8O $ >B 7 45:01@O 2000 3>40 ! 3572). >A:>;L:C 45OB5;L=>ABL A>F80;L=>3> ?5403>30 2 >1@07>20B5;L=>< CG@5645=88 ?@54AB02;5=0 25AL<0 <=>3>>1@07=>, <K ?@54;0305< @0AA<0B@820BL 55 2 0A?5:B5 ?@>D8;0:B8:8, 2 AB@C:BC@5 H:>;L=>3> A>F80;L=>-?A8E>;>38G5A:>3> :>=A8;8C<0 (!:). >=A8;8C<  MB> ?>AB>O==> 459AB2CNI89, >1J548=5==K9 >1I8<8 F5;O<8 :>;;5:B82 A?5F80;8AB>2, @50;87CNI89 BC 8;8 8=CN AB@0B538N ?@>D8;0:B8:8 @515=:0 2 >1@07>20B5;L=>< CG@5645=88. >=A8;8C<, ?@5645 2A53>, >@85=B8@>20= =0 @01>BC A 45BL<8, 8<5NI8<8 ;81> =5045:20B=>5 B@51>20=8O< H:>;K ?>2545=85, ;81> ?@54@0A?>;>65==KE : ?@>B82>?@02=K< 459AB28O<. . !5<03> 8 . !5<03> ?@54;>68;8 :;0AA8D8F8@>20BL :>=A8;8C<K =0 ?;0=>2K5 8 =5?;0=>2K5. ;0=>2K9 :>=A8;8C< @5H05B A;54CNI85 7040G8: ?@545;5=85 ?CB59 A>F80;L=>-?A8E>;>38G5A:>3> A>?@>2>645=8O @515=:0. K@01>B:0 A>3;0A>20==KE @5H5=89 ?> >?@545;5=8N >1@07>20B5;L=>3> 8 A>F80;L=>3> <0@H@CB0. 8=0<8G5A:0O >F5=:0 A>F80;L=>3> 8 ?A8E>;>38G5A:>3> A>AB>O=8O @515=:0 8 :>@@5:F8O @0=55 =0<5G5==>9 ?@>3@0<<K. 5H5=85 2>?@>A0 >1 87<5=5=88 >1@07>20B5;L=>3> <0@H@CB0, A>F80;L=>-?A8E>;>38G5A:>9 @01>BK ?@8 7025@H5=88 >1CG5=8O (CG51=>3> 3>40). 0: ?@028;>, ?;0=>2K5 :>=A8;8C<K ?@>2>4OBAO >48= @07 2 ?>;3>40. =5?;0=>2K5 :>=A8;8C<K A>18@0NBAO ?> 70?@>AC A?5F80;8AB0 8;8 ?5403>30.  7040G8 2=5?;0=>2>3> !: 2E>48B: ?@8=OB85 M:AB@5==KE <5@ ?> 2KO282H8<AO >1AB>OB5;LAB20<, 87<5=5=85 =0?@02;5=8O A>?@>2>645=8O @515=:0 8 4@. @5420@8B5;L=K9 MB0? A>?@>2>645=8O @515=:0 2:;NG05B 2 A51O >1A;54>20=85 @515=:0 A?5F80;8AB0<8 :>=A8;8C<0. @0:B8:0 ?>:07K205B, GB> ?5@28G=>5 >1A;54>20=85 4>;65= ?@>2>48BL ?A8E>;>3 8 A>F80;L=K9 ?5403>3. A8E>;>3 A>18@05B ?A8E>;>38G5A:85 A2545=8O > @515=:5, 0 A>F80;L=K9 ?5403>3 A>18@05B 40==K5 > A5<L5 8 1;8609H5< >:@C65=88 @51Q=:0 3@C??K @8A:0. =8 >?@545;ONB, :B> 5I5 87 A?5F80;8AB>2 4>;65= ?>4:;NG8BLAO 8 4>?>;=8BL ?5@28G=>5 >1A;54>20=85 H:>;L=8:0. "0:8< >1@07><, A>AB02 A?5F80;8AB>2, @50;87CNI8E ?@>3@0<<C ?@>D8;0:B8:8 2 @0<:0E !:, 4>;65= 1KBL AD>@<8@>20= B0:8< >1@07><, GB>1K :064K9 87 55 G;5=>2 >1;040; >?@545;5==K<8 ?>;=><>G8O<8 2 @5H5=88 2>?@>A>2 ?> >:070=8N ?><>I8 ?>4@>AB:0< 8 8E A5<LO<. @><5 MB>3> H:>;0 4>;6=0 8A?>;L7>20BL 4803=>AB8:C 4;O 2KO2;5=8O A;01KE 725=L52 2 @01>B5 ?> ?@>D8;0:B8:5 8 2=>A8BL ?@54;>65=8O 2 2KH5AB>OI85 8=AB0=F88 > F5;5A>>1@07=>AB8 2:;NG5=8O 2 @5H5=85 :>=:@5B=KE ?@>1;5< @51Q=:0, A?5F80;8AB>2 A8AB5<K ?@>D8;0:B8:8 4;O C;CGH5=8O >1I53> 2708<>459AB28O. >A:>;L:C A8; =5A:>;L:8E G5;>25: - A>F80;L=>3> ?5403>30, ?A8E>;>30 8 8=A?5:B>@0 ?> 45;0< =5A>25@H5==>;5B=8E (H:>;L=>3> 8=A?5:B>@0) - =54>AB0B>G=>, ?>MB><C 65;0B5;L=> ?>AB@>8BL B0:CN A8AB5<C @01>BK ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 A@548 ?>4@>AB:>2, 2 >ACI5AB2;5=88 :>B>@>9 <>3;8 1K ?@8=OBL CG0AB85 8 CG8B5;O-?@54<5B=8:8, 8 A?5F80;8ABK 4>?>;=8B5;L=>3> >1@07>20=8O, 8 2>;>=B5@K - AB0@H5:;0AA=8:8, 8 @>48B5;LA:0O >1I5AB25==>ABL. "0:8< >1@07><, 45OB5;L=>ABL H:>;K ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E 2 ?5@2CN >G5@54L ?@54?>;0305B A>2<5AB=CN @01>BC A  8 , 0 B0:65 ?;0=>2CN @01>BC <548F8=A:>3> @01>B=8:0 A CG0I8<8AO, >@30=870F8N 4>AC30 @51OB, ?>8A: 2>7<>6=>AB59 >@30=870F88 8E >B4KE0 2 :0=8:C;O@=>5 2@5<O. !<KA; 40==>3> 2708<>459AB28O - B5E=8G5A:0O 8 ?@0:B8G5A:0O ?><>IL @515=:C-?@02>=0@CH8B5;N 2 CA2>5=88 8< =C6=KE D>@< ?>2545=8O 8 >15A?5G5=85 CA;>289 4;O AB0=>2;5=8O 8 @0728B8O 53> ;8G=>AB8 2 ?@>F5AA5 @5H5=8O 687=5==KE 7040G.  B> 65 2@5<O A>F80;L=K9 ?5403>3 2 45OB5;L=>AB8 ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 8;8 8E @5F8482>2 2K?>;=O5B 2 ?@54;0305<>9 <>45;8 ?@58<CI5AB25==> DC=:F8N A>F80;L=>3> ?@54AB028B5;LAB20 8=B5@5A>2 @515=:0. = >1J5:B82=> =5 <>65B >ACI5AB2;OBL =5?>A@54AB25==>5 :>=AC;LB8@>20=85 ?> 2>?@>A0<, B@51CNI8< >A>1>9 :><?5B5=B=>AB8 8 ?>43>B>2:8, => A 4@C3>9 AB>@>=K, A?5F8D8:0 ?@>1;5< ?@02>=0@CH5=89, 70:;NG05BAO 2 B><, GB> :>=B0:B=K< ;8F>< ?> >B=>H5=8N : @515=:C, ?5@56820NI5<C ?>4>1=CN ?@>1;5<C, <>65B AB0BL 40;5:> =5 :064K9 ?5403>3. >MB><C A>F80;L=K9 ?5403>3 - :;NG520O D83C@0 2 ?@>D8;0:B8G5A:>9 @01>B5 A 45BL<8 3@C??K @8A:0, >ACI5AB2;ONI89 ?@54AB028B5;LA:CN 8 ?>A@54=8G5A:CN DC=:F88. !>F80;L=K9 ?5403>3, >ACI5AB2;OO A2>N @01>BC 2 @0<:0E ?5403>38G5A:>9 MB8:8, ?@>D5AA8>=0;L=>9 :>=D845=F80;L=>AB8, <>65B >@30=87>20BL ?>;>68B5;L=K5 CAB>9G82K5 :>=B0:BK A ?>B5=F80;L=K<8 :;85=B0<8 - =5A>25@H5==>;5B=8<8 8 A 8E @>48B5;O<8. @30=870F8O :>=B0:B>2 A>F80;L=>3> ?5403>30 70:;NG05BAO 2 A;54CNI5<: - CAB0=>2;5=85 4>25@8B5;L=>-C2068B5;L=>3> B>=0 >B=>H5=89 A =5A>25@H5==>;5B=8<8 2 CA;>28OE CG@5645=8O, 045:20B=>3> >B=>H5=8O : 8E ?@>1;5<0< 8 2>7<>6=K< B@C4=>ABO<; - 2 >D>@<;5=88 >1@0B=>9 A2O78 A =5A>25@H5==>;5B=8<8 8 1;87:8<8 8< ;N4L<8 ?CB5< @07=>>1@07=KE >?@>A>2 8 =5@53;0<5=B8@>20==>3> >1I5=8O. - 2 >ACI5AB2;5=88 ?>A@54=8G5A:>9 DC=:F88 2 @07@5H5=88 :>=D;8:B>2 1KB>2>3>, ?@02>2>3>, M:>=><8G5A:>3> E0@0:B5@0.  =0AB>OI89 <><5=B, 3>AC40@AB2> ?@54>AB02;O5B >1@07>20B5;L=K< CG@5645=8O< H8@>:85 2>7<>6=>AB8 4;O :>@@5:B=>3> B2>@G5AB20 8 ?>AB@>5=8O ;>:0;L=KE <>45;59 ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2 A@548 =5A>25@H5==>;5B=8E. 0 =865 ?@54AB02;5==>9 AE5<5 <K >B@078;8 A2>Q 2845=85 2708<>459AB28O H:>;K A 4@C38<8 >@30=0<8 8 CG@5645=8O<8 ?> ?5@28G=>9 8 2B>@8G=>9 ?@>D8;0:B8:5 ?@02>=0@CH5=89, 345 0=0;8B8G5A:8< 8 :>>@48=8@CNI8< F5=B@>< O2;O5BAO !:. !E5<0 1 708<>459AB285 A?5F80;8AB>2 A@54=59 H:>;K ! 53 .6=>3> >:@C30 3. %010@>2A:0 ?> ?@>3@0<<5 ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2 A@548 =5A>25@H5==>;5B=8E   4<8=8AB@0B82=>5 0CG=>-<5B>48G5A:>5  @C:>2>4AB2> @C:>2>4AB2>    ?@0:B8:0 !:   :;0AA=KE @C:>2>48B5;59 8 !: >1@07>20B5;L=KE CG@5645=89  A=>2=K5 =0?@02;5=8O @01>BK ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 2KAB@0820NBAO ?> ?@8=F8?C >?@545;5=8O ?@>1;5<, 2>7=8:0NI8E 2 ?@>F5AA5 >1CG5=8O 8 2>A?8B0=8O "B@C4=KE" 45B59, @5H5=85 :>B>@KE A?>A>1AB2C5B ?>;CG5=8N ?>78B82=KE @57C;LB0B>2. -B8 =0?@02;5=8O =0?@O<CN 2KB5:0NB 87 CAB02=KE 4>:C<5=B>2 CG@5645=8O, 8 B@51CNB CG0AB8O 2A5E, :B> >1CG05B 8 2>A?8BK205B @515=:0: 04<8=8AB@0F88, A>F80;L=>3> ?5403>30, ?A8E>;>30, @>48B5;59. '0I5 2A53>, ?@8>@8B5B=K<8 =0?@02;5=8O<8 ?@>D8;0:B8G5A:>9 45OB5;L=>AB8 AB0=>2OBAO: - ?><>IL A5<L5 2 @5H5=88 ?@>1;5<, A2O70==KE A 2>A?8B0=85< @515=:0; - ?><>IL ?>4@>AB:C 2 CAB@0=5=88 ?@8G8=, 2;8ONI8E =0 A>25@H5=85 ?@5ABC?;5=8O; - ?@82;5G5=85 45B59, @>48B5;59 : >@30=870F88 8 ?@>2545=8N A>F80;L=>-7=0G8<KE <5@>?@8OB89; - 87CG5=85, 4803=>AB8@>20=85, @07@5H5=85 ?@>1;5<, B@C4=KE 687=5==KE A8BC0F89, A F5;LN ?@54>B2@0I5=8O A5@L57=KE ?>A;54AB289; - 8=48284C0;L=>5 8 3@C??>2>5 :>=AC;LB8@>20=85 45B59, @>48B5;59, ?5403>3>2 ?> 2>?@>A0< @07@5H5=8O ?@>1;5<=KE A8BC0F89; - ?><>IL :>=:@5B=K< CG0I8<AO A ?@82;5G5=85< A?5F80;8AB>2 87 A>>B25BAB2CNI8E >@30=870F89; ?@>?030=40 8 @07JOA=5=85 ?@02 8 >1O70==>AB59 45B59, G;5=>2 8E A5<59; >@30=870F8O ;5B=8E ?@>D8;L=KE A<5= 4;O 45B59 3@C??K @8A:0.  40==>< ?>A>188 <K ?@54AB02;O5< A2>Q 2845=85 @01>BK H:>;K 2 @5H5=88 ?@>1;5<K ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2, @50;87C5<>9 =0 1075 >1@07>20B5;L=>3> CG@5645=8O. ;NG52>9 E0@0:B5@8AB8:>9 ?@54;0305<>9 <>45;8 O2;O5BAO - >@30=870F8O A8AB5<=>3> 2708<>459AB28O 2A5E AC1J5:B>2 ?@>D8;0:B8:8 2 H:>;5. 45AL, 2 >A=>2C @5H5=8O 7040G8 ?@>D8;0:B8:8 70;>65= ?@8=F8? 2708<>459AB28O @07;8G=KE A?5F80;8AB>2 8 F5;>AB=>5 ?>=8<0=85 @>;8 H:>;K, :0: >@30=0, >1J548=ONI53> @01>BC MB8E A?5F80;8AB>2. @8 MB>< 45OB5;L=>ABL H:>;K =0?@02;5=0 =0 >:070=85 A2>52@5<5==>9 ?><>I8 45BO< 3@C??K A>F80;L=>3> @8A:0 8 ?@82;5G5=85 A?5F80;8AB>2 4;O ?>445@6:8 >1@07>20B5;L=>3> CG@5645=8O 2 ?@>D8;0:B8G5A:>9 @01>B5 A =8<8. "0:8< >1@07><, ?5@54 H:>;>9 AB02OBAO 425 3;02=K5 7040G8: - >@30=870F8O 459AB25==>3> 2708<>459AB28O A?5F80;8AB>2 A>F80;L=>-?5403>38G5A:8E 8 4@C38E >@30=870F89 2 @5H5=88 ?@>1;5< =5A>25@H5==>;5B=8E; - A>740=85 ;>:0;L=KE (8=48284C0;L=KE) ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89.  45OB5;L=>AB8 H:>;K ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 B>340 <>6=> 2K45;8BL G5BK@5 >A=>2=KE, >?@545;5==KE DC=:F8>=0;>< 55 @01>B=8:>2, >1O70==>AB59: - A>740=85 10=:0 40==KE 45B59 3@C??K @8A:0; - 4803=>AB8:0 ?@>1;5< ;8G=>AB=>3> 8 A>F80;L=>3> @0728B8O 45B59 8 ?>4@>AB:>2, A>25@H82H8E 8;8 8<5NI8E @8A: A>25@H5=8O ?@5ABC?;5=8O; - @07@01>B:0 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8; - @50;870F8O ?@>3@0<<. 0 A53>4=OH=89 45=L =5B >D8F80;L=> =0 D545@0;L=>< C@>2=5 CAB0=>2;5==KE :@8B5@852 8 ?>:070B5;59 <>=8B>@8=30 45BA:>3> =51;03>?>;CG8O.  A2O78 A MB8< 2>7=8:05B ?@>1;5<0 M:;8?B8G5A:>3> ?>4E>40 : A1>@C 8 >D>@<;5=8N 8=D>@<0F88 > 45BOE 3@C??K @8A:0 8 8E A>F80;L=>9 A8BC0F88, :>340 :064>5 254><AB2>, 0 70G0ABCN 8 CG@5645=85 A>18@05B MBC 8=D>@<0F8N A>3;0A=> A>1AB25==K< ?@54AB02;5=8O 8 A?5F8D8G5A:8< 7040G0<. "0:8< >1@07><, =C6=> ?@87=0BL, GB> 2 10=: 40==KE @07;8G=KE >@30=>2 8 A;C61 A8AB5<K ?@>D8;0:B8:8 ?>ABC?05B =5 A>3;0ACNI0OAO, 0 8=>340 8 ?@>B82>@5G820O 8=D>@<0F8O. @8 MB>< ?>:070B5;8, 40NI85 2>7<>6=>ABL :0G5AB25==>3> 0=0;870 2 MB8E >B@K2>G=KE A2>4:0E ?@0:B8G5A:8 >BACBAB2CNB. 57CA;>2=>, MB> <5H05B >@30=0< C?@02;5=8O ?@8=8<0BL 045:20B=K5 @5H5=8O, >?8@0OAL =0 4>AB>25@=CN 8 ?>;=CN 8=D>@<0F8N ?> B>9 8;8 8=>9 ?@>1;5<5.  40==>< 8AA;54>20=88 <K =5 AB028< 7040G8 2K@01>B:8 548=KE B@51>20=89 8 ?>:070B5;59 4;O 10=:0 40==KE > 45BOE 8 A5<LOE 3@C??K @8A:0, B0: :0: 70:07 =0 B0:CN @01>BC 4>;65= 8AE>48BL >B ?@028B5;LAB20 %010@>2A:>3> :@0O. <5AB5 A B5< ?@54;>65==K5 =0<8 4803=>AB8G5A:85 <5B>48:8 8 ?@>F54C@K <>3CB AB0BL >A=>2>9 4;O A1>@0 8=D>@<0F88, 5Q ?>A;54CNI53> 0=0;870 8 A8AB5<0B870F88 A F5;LN 2K@01>B:8 @5H5=89 ?> ?@>D8;0:B8G5A:8< <5@0< 2 >B=>H5=88 B>3> 8;8 8=>3> @51Q=:0 3@C??K A>F80;L=>3> @8A:0. A=>2=0O ?@>1;5<0 745AL A2O70==0 A B@C4=>ABLN @5H5=8O ?@0:B8G5A:8E 7040G ?> ?@55<AB25==>AB8 ?>4E>4>2 8 ?@>4>;65=8N ?@>F5AA0 A>?@>2>645=8O. 54L A ?5@5E>4>< 87 >4=>3> CG@5645=8O 2 4@C3>5 ?@8=8<0NI0O AB>@>=0 =5 ?>;CG05B ?>;=>9 8 4>AB>25@=>9 8=D>@<0F88 > @51Q=:5, 2:;NG0NI59 53> ;8G=>AB=K5 >A>15==>AB8, ?@>1;5<K, ?@8G8=K ;560I85 2 8E >A=>25, >ACI5AB2;Q==K5 CG@5645=85< <5@K ?> 8E CAB@0=5=8N. >MB><C >4=C 87 254CI8E @>;59 2 A8AB5<5 @01>BK H:>;K ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 8;8 8E @5F8482>2 2K?>;=O5B 4803=>AB8:0, >ACI5AB2;O5<0O ?> 548=K< :@8B5@8O<. "0:0O 4803=>AB8:0, =0 =0H 273;O4, 4>;6=0 2K?>;=OBL 425 >A=>2=K5 DC=:F88: 1. >2@5<O 2KO2;OBL D0:B>@K =51;03>?>;CG8O 8 >B=>A8BL @51Q=:0 : >?@545;Q==>9 3@C??5 (C@>2=N) @8A:0; 2. ><>GL C2845BL :0: ?@>1;5<K, B0: 8 @5AC@AK 2=CB@5==85 8 2=5H=85 @51Q=:0 4;O 2K@01>B:8 25@=>9 ;8=88 2 ?>AB@>5=88 ?@>D8;0:B8G5A:8E ?@>3@0<<.  ?5@2>< A;CG05 H:>;0 <>65B ?@>AB@0820BL A >?5@565=85< 2>A?8B0B5;L=CN @01>BC, 0 =5 640BL :>340 3@C7 =5@07@5HQ==KE ?@>1;5< 8 ?5403>38G5A:0O 70?CI5==>ABL ?@8254CB @51Q=:0 : A5@LQ7=><C ?@02>=0@CH5=8N 8;8 ?@5ABC?;5=8N. > 2B>@>< A;CG05 @5GL 84QB > @51Q=:5, =0E>4OI5<AO 2 A>F80;L=> >?0A=>< ?>;>65=88 8 ?@>D8;0:B8:0 745AL =>A8B 2B>@8G=K9 E0@0:B5@, B.5. =0?@02;5=0 =0 ?@54C?@5645=85 @5F8482>2 ?@02>=0@CH5=89. ;O 2KO2;5=8O 45B59, 8<5NI8E @8A: 157=047>@=>AB8 8 ?@02>=0@CH5=89, <K ?@54;0305< 8A?>;L7>20BL @07@01>B0==CN =0<8 0=:5BC (A<. @8;>65=85 1). -BC 0=:5BC 70?>;=ONB CG0I85AO 5-9 :;0AA>2 (<>6=> A>:@0B8BL :@C3 45B59 4> H:>;L=8:>2, C :>B>@KE =01;N40NBAO ?@>1;5<K 2 >1CG5=88 8 ?>2545=88). !?8A:8 B0:8E 45B59 ?>40NBAO :;0AA=K< @C:>2>48B5;5< =0 >A=>25 =01;N45=8O, 0=0;870 ?@>ABC?:>2 8 ?@87=0:>2 457040?B82=>3> ?>2545=8O. 0B5< 0=:5BK >1@010BK20NBAO ?> D>@<C;5 ?@54AB02;5==>9 2 @8;>65=88 3  (:0;0 >F5=:8 C@>2=O A>F80;L=>9 040?B0F88. >A;5 ?@>2545=8O 0=:5B8@>20=8O A>F80;L=K9 ?5403>3 ?@54;0305B :;0AA=><C @C:>2>48B5;N 70?>;=8BL B01;8FC 87 2KH5=0720==>3> ?@8;>65=8O 8 A@02=8205B @57C;LB0BK A0<>>F5=:8 @51Q=:0 8 M:A?5@B=>9 >F5=:8 ?5403>30. @C??K :@8B5@852 A>F80;L=>9 040?B0F88 2 >1>8E A;CG052 A>2?040NB, GB> ?>72>;O5B A@02=820BL @57C;LB0BK ?> >158< <5B>48:0<. "0:8< >1@07><, 40==0O ?@>F54C@0 2KO2;5=8O ?@>1;5<=KE 7>= 2 ;8G=>AB8 8 ?>2545=88 @51Q=:0 8<55B @O4 ?@58<CI5AB2. >-?5@2KE, 70 :>@>B:89 A@>: >=0 ?>72>;O5B 4803=>AB8@>20BL 1>;LH>5 :>;8G5AB2> @5A?>=45=B>2; >-2B>@KE, :0: ?>:070;0 ?@0:B8:0 5Q 8A?>;L7>20=8O, =5 ?@>2>F8@C5B 70I8B=K5 @50:F88 C ?>4@>AB:>2, 0 =0?@>B82 2K7K205B C =8E 8=B5@5A, B.:. ;8H5=0 =07840B5;L=>AB8 8 87;8H=53> ?A8E>;>387<0; -B@5BL8E, 4>AB>25@=>ABL >B25B>2 H:>;L=8:>2 ?@>25@O5BAO 4@C3>9 <5B>48:>9, =0 >A=>25 M:A?5@B=KE >F5=>: ?5403>3>2 ?> >4=8< 8 B5< 65 ?0@0<5B@0<; -G5B2Q@BKE, >=0 70B@038205B 2A5 7=0G8<K5 7>=K @0728B8O @51Q=:0 8 ?>72>;O5B 2KO28BL ?> AB>?@>F5=B=>9 H:0;5 :>MDD8F85=B A>F80;L=>9 040?B0F88 H:>;L=8:0. A;8 >F5=:8 @5A?>=45=B0 8 M:A?5@B0 (:>MDD8F85=B A>F80;L=>9 040?B0F88) =5 @0AE>4OBAO 1>;55 G5< =0 10%, 0 A@54=89 ?>:070B5;L ?> 42C< <5B>48:0< =5 ?@52KH05B 50 %, B> 40==K9 @51Q=>: ?><5I05BAO 2 3@C??C >A>1>3> 2=8<0=8O. @8 MB>< @57C;LB0B 4803=>AB8:8 ?><>305B C2845BL :0: ?@>1;5<=K5 7>=K @0728B8O @51Q=:0, B0: 8 53> ;8G=>AB=K5 @5AC@AK 8 4>AB865=8O, =0 :>B>@K5 ?5403>3 <>65B >?5@5BLAO, 2KAB@0820O 8=48284C0;L=>-?@>D8;0:B8G5A:CN @01>BC. -B0 ?@>AB0O A:@8=8=3>20O <5B>48:0, =0@O4C A> AB@C:BC@8@>20==K< =01;N45=85< 8 0=0;87>< A8BC0F88 ?><>65B 2KO28BL 45B59 ?>B5=F80;L=> A?>A>1=KE A>25@H8BL ?@>B82>?@02=K5 ?>ABC?:8 8 >B=5AB8 8E : ?5@2>9 (=0G0;L=>9) 3@C??5 @8A:0. (:>;L=8:8 MB>9 3@C??K ?><5I0NBAO 2 7>=C >A>1>3> 2=8<0=8O, => >D8F80;L=> 8E =5;L7O ?>AB028BL =0 H:>;L=K9 CGQB, B0: :0: MB0 A0=:F8O <>65B ?@8<5=OBLAO B>;L:> : ?>4@>AB:0<, A>25@H82H8< ?@>B82>?@02=>5 459AB285. ;O ?>;CG5=8O >1I59 :0@B8=K 8 0=0;870 A8BC0F88 ?> ?@02>=0@CH5=8O< 2 H:>;5, <>6=> 8A?>;L7>20BL @07@01>B0==CN =0<8 <5B>48:C, ?@54AB02;5==CN 2 @8;>65=88 ! 2. -B0 <5B>48:0 ?><>305B >BA;56820BL 8 D8:A8@>20BL ?@02>=0@CH5=8O, ?@>O2;ONI85 A51O 2 @07;8G=KE D>@<0E 45280=B=>3>, 45;8=:25=B=>3> 8 :@8<8=0;L=>3> ?>2545=8O 8 2KO2;OBL AB5?5=L 457040?B0F88 @51Q=:0. =0 <>65B 1KBL 8A?>;L7>20=0 :0: ?@8 0=0;875 A8BC0F88 2 H:>;5 8;8 :;0AA5, B0: 8 ?@8<5=OBAO 2 >B=>H5=88 :>=:@5B=>3> @51Q=:0 2 :0G5AB25 >?@545;8B5;O ?@8G8= 53> =51;03>?>;CG8O G5@57 A8<?B><K ?@>B82>?@02=>3> ?>2545=8O (12). !> H:>;L=8:0<8, ?>?02H8<8 2 3@C??C >A>1>3> 2=8<0=8O, ?@>2>48BAO 40;L=59H0O 4803=>AB8:0, =0?@02;5==0O =0 >?@545;5=85 A>F8>:C;LBC@=>9 A8BC0F88 @0728B8O 8 ?>8A: A8AB5<>>1@07CNI8E D0:B>@>2 @8A:0 G5@57 >?@545;5=85 8=48:0B>@>2 45BA:>3> =51;03>?>;CG8O, ?>:070B5;59 AB0BCA0 @51Q=:0 8 4@C38E 206=KE E0@0:B5@8AB8: 53> @0728B8O. >A;5 :><?;5:A=>9 4803=>AB8:8 A>F80;L=K9 ?5403>3 70?>;=O5B 0@BC ;8G=>AB8 H:>;L=8:0 3@C??K @8A:0 (A<. @8;>65=85 4).  :0G5AB25 >A=>2=KE <5B>48:, ?>72>;ONI8E 1KAB@> ?>;CG8BL 4>AB>25@=K5 40==K5 > @51Q=:5 8 53> A8BC0F88, <K ?@54;0305< 8A?>;L7>20BL: =:5BC 4;O ?>4@>AB:0 3@C??K @8A:0 8 5B>48:C 87CG5=8O ;8G=>AB8 A>F80;L=> 457040?B8@>20==>3> ?>4@>AB:0 8 53> 1;8609H53> >:@C65=8O (A<. @8;>65=8O ! 5 8 ! 6). A;8 =:5B0 4;O ?>4@>AB:>2 (@8;>65=85 1) 40QB =0< 2>7<>6=>ABL 2K28BL 45B59 3@C??K @8A:0, B> 2B>@0O 0=:5B0, :>B>@CN 70?>;=ONB ?>4@>AB:8 F5;52>9 3@C??K, 2K2>48B =0A =0 ?@8G8=K 8E =51;03>?>;CG8O, ;560I85 2 ;8G=>AB8 @51Q=:0 8 53> 1;8609H5< >:@C65=88 (A5<LO, H:>;0, A25@AB=8:8). @><5 MB>3> >=0 ?>72>;O5B >?@545;8BL D0:B>@K 70I8BK, 8<5NI85 ?>;>68B5;L=>5 7=0G5=85 4;O ?>4@>AB:0 (;N18<K5 70=OB8O, ;N48, :>B>@K< >= 4>25@O5B, 53> 2845=85 2KE>40 87 A>7402H59AO A8BC0F88). 5B>48:0 87CG5=8O ;8G=>AB8 2 A2>N >G5@54L ?>72>;O5B ?5403>30<, @01>B0NI8< A ?>4@>AB:>< >F5=8BL A>AB>O=85 A>F80;L=>9 040?B0F88 8;8 C@>25=L A>F80;L=>9 8 ;8G=>AB=>9 7@5;>AB8 ?>4@>AB:0 A>3;0A=> A;54CNI8< 7=0G8<K< :@8B5@8O<: 4>@>2L5 @51Q=:0 1I5AB25==0O 0:B82=>ABL !B@C:BC@0 8;8 A>AB02 A5<L8 >@0;L=K9 :;8<0B 2 A5<L5 >B@51=>AB8 A5<L8, 5Q A>F80;L=>-=@02AB25==CN =0?@02;5==>ABL %0@0:B5@ M<>F8>=0;L=KE >B=>H5=89 2 A5<L5 B=>H5=8O A> A25@AB=8:0<8 0;8G85 687=5==KE ?;0=>2 8 ?@>D5AA8>=0;L=KE =0<5@5=89 !B5?5=L A>7=0B5;L=>AB8 2 CG51=>9 45OB5;L=>AB8 #@>25=L @0728B8O ?>;57=KE 8=B5@5A>2, 7=0=89, C<5=89 B=>H5=85 : ?5403>38G5A:8< 2>7459AB28O< !?>A>1=>ABL AG8B0BLAO A >1I8<8 8=B5@5A0<8 8 =>@<0<8 !?>A>1=>ABL <>@0;L=> >F5=820BL ?>ABC?:8 A25@AB=8:>2 !0<>:@8B8G=>ABL, =0;8G85 =02K:>2 A0<>0=0;870 B=>H5=85 : >:@C60NI8<, A?>A>1=>ABL : A>?5@56820=8N >;52K5 :0G5AB20. !B5?5=L 2>A?@88<G82>AB8 : 4C@=><C 2;8O=8N =5H=89 284, :C;LBC@0 @5G8 8 ?>2545=8O B=>H5=85 : 0;:>3>;N B=>H5=85 : :C@5=8N B=>H5=85 : =5F5=7C@=K< 2K@065=8O<. 5403>38, A>?@>2>640NI85 ?>4@>AB:0, >?8@0OAL =0 @57C;LB0BK 4803=>AB8:8, 40NB >1@0B=CN A2O7L A2>5<C ?>4>?5G=><C 2 >B=>H5=88 ACI5AB2CNI8E ?@>1;5< 8, >?5@8@CO : A8;L=K< AB>@>=0< 53> ;8G=>AB8, ?>1C640NB 2>A?8B0==8:0 ?@8=OBL @5H5=85 >B=>A8B5;L=> 87<5=5=8O A2>53> >B=>H5=8O 8 ?>2545=8O ?> >?@545;Q==K< =0?@02;5=8O< @0728B8O. F5=:8 ?> <5B>48:5 2KAB02;ONBAO M:A?5@B0<8 (=5 <5=55 42CE G5;>25:, E>@>H> 7=0NI8E ?>4@>AB:0) =0 >A=>25 :>=A5=ACA0. ;O ?>;CG5=8O A2545=89 > =5:>B>@KE >1;0ABOE, =0?@8<5@ > E0@0:B5@5 >B=>H5=89 2 A5<L5, A>18@05BAO 8=D>@<0F8O 87 @07=KE 8AB>G=8:>2 (0=:5B8@>20=85 8 15A540 A ?>4@>AB:><, >?@>A A>A5459, AB@C:BC@8@>20==>5 =01;N45=85 2 A8BC0F8OE :>=B0:B0 A @>48B5;O<8). 0<5@K ?> <5B>48:5 87CG5=8O ;8G=>AB8 ?@>2>4OBAO ?5@8>48G5A:8, ?@8<5@=> G5@57 :064K5 6-8 <5AOF52. 0 8E >A=>25 A>F80;L=K9 ?5403>3 D8:A8@C5B @57C;LB0BK ?@>45;0==>9 @01>BK, CB>G=O5B 8E ?> 4@C38< <5B>48:0< 8 2=>A8B 87<5=5=8O 2 ?@>3@0<<C ?@>D8;0:B8:8. "0:8< >1@07><, 40==0O 4803=>AB8:0 ?>72>;O5B 2KO28BL 45BA:CN ?@>1;5<0B8:C, >?@545;8BL 5Q ?@8G8=K 8 D0:B>@K @8A:0, ;560I85 2 >A=>25 ?@>B82>?@02=>3> ?>2545=8O 8 ?@8ABC?8BL : A>740=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2. @8 MB>< A0<0 ?@>3@0<<0 :0: A>2>:C?=>ABL F5;5=0?@02;5==KE <5@ 8 <5@>?@8OB89 8<55B 381:89 E0@0:B5@ 8 <>65B :>@@5:B8@>20BLAO ?> E>4C 45OB5;L=>AB8. =48284C0;L=CN ?@>3@0<<C ?@>D8;0:B8:8 ?@02>=0@CH5=89 <K ?@54;0305< @0AA<0B@820BL, :0: 4>;3>2@5<5==K9 A>F80;L=K9 ?@>5:B. @8 MB>< >=0 <>65B 8<5BL A;54CNI89 E0@0:B5@: 8=D>@<0F8>==>-?@>?030=48ABA:89; @>;52>9; 83@>2>9; 45;>2>9; 4>AC3>2K9 8 ?@54=07=0G0BLAO 4;O D>@<8@>20=8O :0: CAB>9G82>3> =530B82=>3> >B=>H5=8O ?>4@>AB:0 : 2>7<>6=K< ?@02>=0@CH5=8O<, B0: 8 4;O D>@<8@>20=8O ?>78B82=KE CAB0=>2>: =0 74>@>2K9 >1@07 687=8 8 :>=AB@C:B82=K5 >B=>H5=8O A ;N4L<8. A=>2=K<8 2840<8 45OB5;L=>ABL ?5403>38G5A:>9 :><0=4K <>3CB AB0BL @5018;8B0F8O, B.5. 2>AAB0=>2;5=85 8 C:@5?;5=85 AB0BCA0 ?>4@>AB:0, 53> ?A8E>D878G5A:8E 2>7<>6=>AB59, @5A>F80;870F8O 8 A>740=85 A8BC0F88 CA?5E0. 5A>F80;870F8O 2 A2>N >G5@54L 2:;NG05B 420 ?@>F5AA0: 45A>F80;870F8N, B.5. @0725=G0=85 ?@56=8E =530B82=> 70@O65==KE 0<>@0;L=KE CAB0=>2>: 8 AB5@5>B8?>2 ?>2545=8O; 2>AA>740=85 =0 @0AG8I5==>9 B5@@8B>@88 =>2KE - A>F80;L=> ?@85<;5<KE ?0BB5@=>2 ?>2545=8O. >@@5:F8N 745AL <K @0AA<0B@8205< :0: =01>@ A>F80;L=>-?5403>38G5A:8E <5B>4>2 8 B5E=>;>389 ?> 4>AB865=8N A>AB>O=8O CA?5H=>9 A>F80;870F88. !8BC0F8O CA?5E0 4;O ?>4@>AB:0 3@C??K @8A:0 4>AB8305BAO ?> B5E=>;>388 ?@54AB02;5==>9 2 ?>A>188 - 818@52 .., !5=LGC:>20 .. @30=870F8O 45OB5;L=>AB8 H:>; ?> ?@>D8;0:B8:5 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E. %010@>2A:: 2004, !. 56-61. A=>2=K<8 A>AB02;ONI8<8 40==>9 45OB5;L=>AB8 4>;6=K AB0BL B@0=AD>@<0F8O 8 C4>2;5B2>@5=85 >A=>2=KE ?>B@51=>AB59 ?>4@>AB:0, ?>445@6:0 8 27@0I820=85 ;8G=>AB=KE =>2>>1@07>20=89, >@30=870F8O >A=>2=KE 284>2 45OB5;L=>AB8, E0@0:B5@=KE 4;O ?>4@>AB:>2>3> 2>7@0AB0.  >1I5< 2845 40==K5 E0@0:B5@8AB8:8 ?@54AB02;5=K 2 "01;8F5 1. "01;8F0 1 54CI85 ?>B@51=>AB8 2>7@0AB0 8G=>AB=K5 =>2>>1@07>20=8O54CI89 284 45OB5;L=>AB8 ?@87=0=88  C2065=88 ;8G=>AB8  A0<>2K@065=88 8 A0<>CB25@645=88'C2AB2> 27@>A;>AB8 8G=>AB=0O @5D;5:A8O @>D5AA8>=0;L=>5 A0<>>?@545;5=85 /-:>=F5?F8O=B8<=>-;8G=>AB=>5 >1I5=85 -:A?5@8<5=B8@>20=85 (?@>10 A8; 8 2>7<>6=>AB59) !>F80;L=>-7=0G8<0O 8 >1I5AB25==>-?>;57=0O 45OB5;L=>ABL !>F80;L=>5 ?@>5:B8@>20=85  @30=870F8O A>F80;L=>3> ?@>5:B8@>20=8O 4;O 2A53> :;0AA0 <>65B AB0BL MDD5:B82=K< A?>A>1>< 2:;NG5=8O 2 A>F80;L=>-7=0G8<CN 45OB5;L=>ABL ?>4@>AB:>2 3@C??K @8A:0. !B@C:BC@0 A>F80;L=>3> ?@>5:B8@>20=8O ?@54?>;0305B: @30=870F8N A>F80;L=>9 ?@0:B8:8 :0: 2840 2708<>459AB28O, 2 @57C;LB0B5 :>B>@>3> ?>4@>AB>: ?>;CG05B 8 ?@8A208205B 8=D>@<0F8N > A>F80;L=KE >1J5:B0E 8 O2;5=8OE, >A>7=0QB >?KB A>F80;L=>3> 2708<>459AB28O; @>2545=85 A>F80;L=KE ?@>1  >A2>5=85 ?>4@>AB:>< A>F80;L=KE =02K:>2, ?>7=0=85 ACI=>AB=KE E0@0:B5@8AB8: 2K1@0==KE 8< >1J5:B>2 A>F80;L=>9 459AB28B5;L=>AB8; 07@01>B:C 8 @50;870F8N A>F80;L=>3> ?@>5:B0 ?> A>740=8N =>2>3> A>F80;L=> 8 ;8G=>AB=> 7=0G8<>3> ?@>4C:B0 A>2<5AB=>9 45OB5;L=>AB8 (5).  E>45 ?>43>B>2:8 ?@>5:B0 A>?@>2>645=8O <>65B 2>7=8:=CBL =5>1E>48<>ABL ?@8=OB8O >?@545;5==KE C?@02;5=G5A:8E @5H5=89 ?> @07@01>B:5 8 A>3;0A>20=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8, CB>G=5=8N 4>;6=>AB=KE 8=AB@C:F89 A?5F80;8AB>2, 22545=8N (5A;8 5ABL =5>1E>48<>ABL) =>2KE A?5F80;8AB>2 A>F80;L=> - ?5403>38G5A:8E CG@5645=89 8 4@. AE>4O 87 MB>3>, 4;O @5H5=8O 2KO2;5==KE ?@>1;5< 8 @01>BK A ?@8G8=0<8 =51;03>?>;CG8O >?@545;O5BAO ?5403>38G5A:0O :><0=40.  A;CG05, :>340 45OB5;L=>ABL ?> CAB@0=5=8N D0:B>@>2 @8A:0 2KE>48B 70 >1;0ABL :><?5B5=F88 H:>;K, G5@57  ?@82;5:0NBAO A?5F80;8ABK 4@C38E A;C61 8 254><AB2.  :064>< A;CG05 MB0 ?@>3@0<<0 1C45B =>A8BL 8=48284C0;L=K9 E0@0:B5@ 8 AB@>8BAO 8AE>4O 87 0=0;870 A8BC0F88 :>=:@5B=>3> ?>4@>AB:0. <5AB5 A B5< 2 :0G5AB25 <>45;8 4;O ?>AB@>5=8O 8=48284C0;L=KE ?@>3@0<< <K ?@54;0305< 8A?>;L7>20BL @8<5@=CN ?@>3@0<<C ?> ?@>D8;0:B8:5 @5F8482>2 ?@02>=0@CH5=89 ("01;8F0 2), >B@060NICN A>45@60=85 8 >A=>2=K5 MB0?K ?@>F5AA0 ?A8E>;>3>-?5403>38G5A:>3> A>?@>2>645=8O. 1I85 7040G8 8 DC=:F88 ?5403>38G5A:>9 :><0=4K, >ACI5AB2;ONI59 A>?@>2>645=85, B0:65 ?@54AB02;5=K 2 >;>65=88 > A>F80;L=>-?A8E>;>38G5A:>9 A;C615 >1@07>20B5;L=>3> CG@5645=8O (A<. @8;>65=85 7). @8<5@=0O ?@>3@0<<0 ?> ?@>D8;0:B8:8 ?@02>=0@CH5=89 "01;8F0 2 &5;L MB0?0A=>2=K5 =0?@02;5=8O 2 @01>B55B>4K @01>BK1 MB0? &5;L: 7CG5=85 ?@8G8=, A?>A>1AB2CNI8E A>25@H5=8N ?@02>=0@CH5=89. !>AB02;5=85 A>F80;L=> - ?A8E>;>38G5A:>3> ?>@B@5B0 CG0I53>AO, AB>OI53> =0 2=CB@8H:>;L=>< CG5B5 8;8 2  5@28G=0O 4803=>AB8:0 ?@545;8BL "7>=K" 45BA:>3> =51;03>?>;CG8O; KO28BL 8=45:A 1;03>?>;CG8O; 7CG8BL ;8G=>ABL ?>4@>AB:0, 53> <>B820F8>==>-?>B@51=>AB=CN AD5@C 5B>4K 87CG5=8O ;8G=>AB8 (0=0;87 4>:C<5=B>2, 15A540, >?@>A, A>F8><5B@8O, :><?;5:A <5B>48:, A2O70==KE A 87CG5=85< ;8G=>AB8 ?>4@>AB:0).2 MB0? &5;L: 7<5=5=85 =565;0B5;L=>3> AB5@5>B8?0 ?>2545=8O ?>4@>AB:0. 0728B85 ?>;>68B5;L=>9 <>B820F88 8 :0G5AB2 ;8G=>AB8 ?>4@>AB:0. 1. 0728B85 ?>;>68B5;L=KE 2708<>>B=>H5=89 A ?>4@>AB:>< (;8G=KE 8 45;>2KE); 2. >AB@>5=85 M<>F8>=0;L=>-7=0G8<KE 8 A>F80;L=>-7=0G8<KE 284>2 45OB5;L=>AB8 ?>4@>AB:0; 3. :070=85 :>=:@5B=>9 ?><>I8 2 @50;870F88 A>F80;L=KE ?>B@51=>AB59 ?>4@>AB:0; 4. @82;5G5=85 ?>4@>AB:0 : CG0AB8N 2 @07;8G=KE D>@<0E :>;;5:B82=>9 B2>@G5A:>9 45OB5;L=>AB8; 5. !>740=85 A8BC0F88 CA?5E0 2 CG51=>9 45OB5;L=>AB8. 5B>4K :>@@5:F88 - <5B>4 "?5403>38G5A:>3> 27@K20", <5B>4 ?>>I@5=8O, <5B>4 C15645=8O, <5B>48:0 >@30=870F88 :>;;5:B82=>9 B2>@G5A:>9 45OB5;L=>AB8, 8=48284C0;L=0O :>=AC;LB0F8O, A>740=85 A8BC0F88 CA?5E0 2 A>F80;L=>-7=0G8<>9 45OB5;L=>AB8 8 4@.3 MB0? &5;L: $>@<8@>20=85 70:>=>?>A;CH=>3> ?>2545=8O ?>4@>AB:0 1. $>@<8@>20=85 4>25@8B5;L=KE >B=>H5=89 A ?>4@>AB:><; 2. >AB865=85 CAB>9G82KE ?>78B82=KE @57C;LB0B>2 2 CG515 8 4@C38E 2840E 45OB5;L=>AB8; 3. >AB>O==>5 CG0AB85 2 A>F80;L=>-7=0G8<KE 2840E 45OB5;L=>AB8. 5B>4 0CB>35==>9 B@5=8@>2:8, B@5=8=38 A>F80;L=KE =02K:>2 8 <>48D8:0F88 ?>2545=8O 8 4@. =48284C0;L=0O ?5403>38G5A:0O ?>445@6:0 !>F80;L=>5 ?@>5:B8@>20=85.  ;O B>3> GB>1K 45OB5;L=>ABL ?> ?@>D8;0:B8:5 ?@02>=0@CH5=89 A@548 =5A>25@H5==>;5B=8E 1K;0 MDD5:B82=>9, 206=> :;0AA8D8F8@>20BL 45B59 ?> 3@C??0<, :0640O 87 :>B>@KE ?@54?>;0305B A2>N, >A>1CN A8AB5<C @01>BK.  :0G5AB25 >A=>2=>3> 8=48:0B>@0 :;0AA8D8:0F88 =0<8 1K; 27OB "8=45:A 1;03>?>;CG8O", B.5. AB5?5=L 2:;NG5==>AB8 @515=:0 2 ?>78B82=CN 4;O =53> A@54C (A5<LO, H:>;0). @8 @07@01>B:5 >1>1I5==KE :@8B5@852, <K 8AE>48;8 87 @0A?@545;5=8O A2>1>4=>3> 2@5<5=8 @515=:0 ?> C:070==K< B8?0< A@54. 0<8 ?@54?>;030;>AL, GB> A2O7L A> A@54>9 ?@>?>@F8>=0;L=0 B><C 2@5<5=8, :>B>@>5 ?@>2>48B @515=>: 2 B>9 8;8 8=>9 A@545 A CG5B>< B>3>, GB> 2 A@54=5< 8-9 G0A>2 2 ACB:8 C @515=:0 CE>48B =0 A>=. 0AA<>B@8< B8?>;>3870F8N 45B59, >@85=B8@COAL =0 @50;L=K5 687=5==K5 A8BC0F88 ?>4@>AB:>2 A@54=59 H:>;K ! 53 3. %010@>2A:0. =48:0B>@K 45B59 2 7028A8<>AB8 >B 2:;NG5==>AB8 8E 2 687=5==K5 A@54K "01;8F0 3 ><5@ 3@C??K !>E@0==>ABL A5<59=KE >B=>H5=89  !>E@0==>ABL A2O759 A> H:>;>9 !>25@H5=85 ?@>B82>?@02=KE 459AB289) :;NG5==>ABL 2 C;8G=CN A@54C =45:A 1;03>?>;CG8O1)111142)110,50,533)10,510,534)1100,52,55)10,50,50,52,56)10,500,527)0,5100,52 8)0,50,50,50,529)0,50,500,51,510)0,500,50,51,511)0,50,500112)0,500,50113)00,50,50114)0,50000,515)00,5000,516)000,500,517)00000 #A;>2=K5 >1>7=0G5=8O: ;O 1-2-3> AB>;1F>2 (A>E@0==>ABL A5<59=KE A2O759 8 A2O759 A> H:>;>9): 1 - ?>;=>5 =0;8G85 ?@87=0:0; 0,5 - G0AB8G=>5 =0;8G85 ?@87=0:0 (=0?@8<5@, @515=>: ?>A5I05B H:>;C 2@5<O >B 2@5<5=8, => 5I5 >:>=G0B5;L=> =5 1@>A8;); 0 - >BACBAB285 ?@87=0:0. ;O 3-4 AB>;1F>2 (A2O7L A :@8<8=0;>< 8 2:;NG5==>ABL 2 C;8G=CN A@54C): 1 - >BACBAB285 ?@87=0:0; 0,5 - G0AB8G=>5 =0;8G85 ?@87=0:0 (=0?@8<5@, @515=:0 2@5<O >B 2@5<5=8 284OB A ;8F0<8 87 :@8<8=0;L=KE AB@C:BC@, => 2 ?@02>=0@CH5=8OE >= =5 70459AB2>20=); 0 - ?>;=>5 =0;8G85 ?@87=0:0. 0: <K 2848<, 2 B01;8F5 ?@54AB02;5=> 17 >A=>2=KE B8?>;>38G5A:8E 3@C??. !;54C5B >B<5B8BL, GB> =5 2A5 0@8D<5B8G5A:8 2>7<>6=K5 20@80=BK A>G5B0=89 2>H;8 2 B01;8FC. E0@0:B5@87C5< 8 ?@>:><<5=B8@C5< ?@54AB02;5==K5 B8?>;>38G5A:85 3@C??K: ! 1 (8=45:A 1;03>?>;CG8O - 4) - 8450;L=K9 20@80=B: @515=>: =5 8<55B ?@>1;5< 2 A5<L5, @53C;O@=> ?>A5I05B H:>;C, =5 >1I05BAO A :@8<8=0;L=K<8 "M;5<5=B0<8", ?@8 MB>< C;8F0 =5 70=8<05B 2 53> 687=8 206=>3> <5AB0. ! 2 - ?>;=>ABLN A>E@0=5=K A2O78 A A5<L59 8 H:>;>9, => 87-70 B>3>, GB> <=>3> 2@5<5=8 ?@>2>48B =0 C;8F5, 70<5G5= 1K; 2 >1I5=88 A :@8<8=0;><.  40==>< A;CG05 =5>1E>48<> A2>52@5<5==> >1@0B8BL 2=8<0=85 =0 20:CC< A2>1>4=>3> 2@5<5=8 C @515=:0 8 >@30=87>20BL 53> 4>AC3. ! 3 - ?>;=0O A>E@0==>ABL A2O759 A A5<L59, >BACBAB285 A2O759 A :@8<8=0;L=K<8 "M;5<5=B0<8". > 2>7=8:0NB ?@>1;5<K A> H:>;>9, @515=>: <=>3> 2@5<5=8 ?@54>AB02;5= C;8F5.  ?5@A?5:B825 B0:0O A8BC0F8O ?@82>48B : B><C, GB> @515=>: 1@>A05B H:>;C, C =53> 2>7=8:0NB ?@>1;5<K A A5<L59 8 >= ?>;=>ABLN CE>48B =0 C;8FC.  40==>< A;CG05 206=> 2KAB@0820BL ?>78B82=K5 2708<>459AB285 @>48B5;59 8 ?@54AB028B5;59 H:>;K (:;0AA=K9 @C:>2>48B5;L, ?A8E>;>3, A>F80;L=K9 ?5403>3 8 4@.) A F5;LN >:070=85 ?><>I8 @515=:C. ! 4 - ?>;=0O A>E@0==>ABL A2O759 A A5<L59 8 H:>;>9, => @515=>: G0AB> ?@81K205B =0 C;8F5 8 70<5H0= 2 :@8<8=0;L=>9 45OB5;L=>AB8.  MB>9 A8BC0F88, ?>:0 ?>4@>AB>: =5 CA2>8; 5I5 F5==>AB8 C;8G=>3> <8@0 8 :@8<8=0;L=K5 ?>@O4:8 =5>1E>48<> 2708<>459AB285 708=B5@5A>20==KE A?5F80;8AB>2 (, , H:>;K) 8 A5<L8, 0 B0:65 ?@82;5G5=85 ?>4@>AB:0 : @07=>>1@07=>9 4>AC3>2>9 45OB5;L=>AB8. ! 5 - A>E@0=5=K A5<59=K5 >B=>H5=8O, => ACI5AB2CNB =5:>B>@K5 ?@>1;5<K A> H:>;>9. !>>B25BAB25==> G0AB8G=0O 2:;NGQ==>ABL 2 C;8G=CN A@54C 8 70<5G5=> >1I5=85 A :@8<8=0;L=K<8 "M;5<5=B0<8". ! 6 - A5<LO >1;0405B 1>;LH8< ?>B5=F80;>< 4;O 87<5=5=8O A8BC0F88, 81> C @515=:0 2>7=8:;8 ?@>1;5<K A> H:>;>9, <=>3> 2@5<5=8 >= ?@>2>48B =0 C;8F5, 70<5H5= 2 45OB5;L=>AB8 :@8<8=0;L=KE AB@C:BC@. ! 7 - ?>4@>AB>: CA?5H=> ?@>4>;605B >1CG5=85 2 H:>;5, => A>25@H8; ?@>B82>?@02=K5 459AB28O. @><5 B>3>, @515=>: 2 A5<L5 =5 ?>;CG05B =5>1E>48<>9 ?><>I8, 1>;LHCN G0ABL 2@5<5=8 ?@54>AB02;5= C;8FK. ! 8 - C @515=:0 B@C4=>AB8 2 A5<L5 8 H:>;5, >= ?@>?CA:05B 70=OB8O 8 :>=D;8:BC5B A @>48B5;O<8. 7-70 >BACBAB28O ?>445@6:8 H:>;K 8 A5<L8, >= ?>425@65= 2;8O=8N C;8FK 8 :@8<8=0;L=KE AB@C:BC@. ! 9 - A8BC0F8O, 2> <=>3>< AE>60O A >?8A0==>9 2 !8, => 87-70 A>25@H5==>3> ?@02>=0@CH5=8O A8;L=> CAC3C1;O5BAO. ! 10 - @515=>: =5 E>48B 2 H:>;C, A2O78 A A5<L59 G0AB8G=> A>E@0=ONBAO. >7<>6=>, 45AB018;870F8O A>AB>O=8O 2 A5<L5 ?@>87>H;0 2 @57C;LB0B5 B@C4=>9 687=5==>9 A8BC0F88, B0: :0: @515=>: <=>3> 2@5<5=8 ?@>2>48B =0 C;8F5 8 70<5G5= 2 >1I5=88 A :@8<8=0;L=K<8 AB@C:BC@0<8. >7<>6=>, : MB>9 3@C??5, <>6=> >B=5AB8 B5E 45B59, :>B>@K5 2K=C645=K A0<8 70@010BK20BL A515 =0 687=L. 5B59 2 3@C??0E A !11 ?> 17 <>6=> =0720BL "C;8G=K<8" 2 ?@O<>< A<KA;5 A;>20, B.5. ?>425@65==K<8 =530B82=><C F5==>AB=><C 2;8O=8N C;8G=>9 AC1:C;LBC@K. 0G5AB25==0O E0@0:B5@8AB8:0 MB8E 3@C?? - 7028A8<>ABL >B C;8G=>9 A@54K. 0G8=0O A 11-9 3@C??K <>6=> :>=AB0B8@>20BL, GB> A5<59=K5 8 A>F80;L=K5 CAB0=>2:8 C 45B59 70<5I0NBAO CAB0=>2:0<8 C;8G=>9 A@54K. ! 11 - @515=>: E>48B 2 H:>;C =5@53C;O@=>, 4><>9 ?@8E>48B B>;L:> =>G520BL, 2A5 A2>1>4=>5 2@5<O ?@>2>48B =0 C;8F5, 70<5H0= 2 A>25@H5=88 ?@5ABC?;5=89. ! 12 - @515=>: =5 E>48B 2 H:>;C. A5 A2>5 2@5<O ?@>2>48B =0 C;8F5, >1I05BAO A :@8<8=0;L=K<8 "M;5<5=B0<8", 4><>9 ?@8E>48B B>;L:> =>G520BL. ! 13 - A2O78 @515=:0 A A5<L59 CB@0G5=K, => >= ?@>4>;605B :>5- :0: CG8BLAO. "825B" =0 C;8F5, 70<5G5= 2 >1I5=88 A :@8<8=0;><. ! 14 -17 - 45B8, ?>;=>ABLN CB@0B82H85 A2O78 A A5<L59 8 ?@>6820NI85 =0 C;8F5. @C??K <>6=> 2K45;8BL ?> 2840< B>9 ?@>D8;0:B8G5A:>9 @01>BK, :>B>@CN <>3CB ?>;CG8BL 45B8 >B H:>;K. "0:, <>6=> 2K45;8BL 3@C??C 45B59, A>25@H82H85 ?@>B82>?@02=K5 459AB28O (0) 8 @54:> ?>A5I0NI8E H:>;C (0,5) 8;8 =5 ?>A5I0NI8E A>2A5< (0), 4;O >@30=870F88 F5=B@0 4=52=>3> ?@51K20=8O, 345 8< 1C45B ?@54;>65=0 =5:>B>@0O >1@07>20B5;L=0O ?@>3@0<<0 8 A>45@60B5;L=K9 4>AC3. 'B> :0A05BAO ?@>D8;0:B8G5A:>9 @01>BK A :064>9 :>=:@5B=>9 3@C??>9, B> >G5284=>, 5A;8 4;O ! 2 - 6 A5<59=K5 A2O78 A>E@0=5=K, B> 2708<>459AB285 A A5<L59 40AB E>@>H89 @57C;LB0B 2 @01>B5 A @515=:><. 0G8=0O A ! 7, :>340 A5<59=K5 A2O78 G0AB8G=> =0@CH5=K (0,5) 8;8 ?>;=>ABLN CB@0G5=K (0), @5GL 845B C65 > =5>1E>48<>AB8 2:;NG5=8O 2 @01>BC CG@5645=89 A>>B25BAB2CNI53> ?@>D8;O. ;O >BA;56820=8O A>F80;L=>9 A8BC0F88 @0728B8O H:>;L=8:0 3@C??K @8A:0 =0<8 27OB0 8 B2>@G5A:8 ?5@5@01>B0=0 A8AB5<0 AB0BCA>2 @51Q=:0, ?>72>;ONI0O 2 4>AB0B>G=> ?@>AB>9 8 C4>1=>9 D>@<5 ?@>2>48BL <>=8B>@8=3 :;NG52KE AD5@ @0728B8O. -B0 <5B>48:0, E>@>H> 70@5:><5=4>20;0 A51O 2 (5:A=8=A:>9 A?5F80;L=>9 H:>;5 4;O ?>4@>AB:>2 A 45280=B=K< ?>2545=85< 8 <>65B 1KBL 8A?>;L7>20=0 :0: 2 >1I5>1@07>20B5;L=>9 H:>;5, B0: 8 2 A?5FH:>;5. 865 <K ?@54;0305< ?@>3@0<<C <>=8B>@8=30 48=0<8:8 45BA:>3> =51;03>?>;CG8O H:>;L=8:>2, A>AB>OI8E =0 CG5B5 2 H:>;5 8;8 . @>3@0<<0 @5H05B A;54CNI85 7040G8: - D>@<8@C5B C G;5=>2 H:>;L=>3> :>;;5:B820 F5;>AB=K9 >1@07 2>A?8B0==8:0; - A>45@68B 4>ABC?=K5 D>@<C;8@>2:8 :@8B5@852 =01;N45=8O 8 4803=>AB8:8, A>459AB2C5B D>@<8@>20=8N >1I53> B5@<8=>;>38G5A:>3> ?>;O A@548 G;5=>2 CG8B5;LA:>3> :>;;5:B820; - ?@54AB02;O5B >1>1I5==K5 =01;N45=8O @07;8G=KE A?5F80;8AB>2 (?A8E>;>30, A>F80;L=>3> ?5403>30, :;0AA=>3> @C:>2>48B5;O 8 4@.) 2 548=>9 D>@<5; - ?>72>;O5B ?>4:;NG8BL @>4=KE @515=:0 8 CG8BK20BL MB8 40==K5 2 <0B5@80;0E <>=8B>@8=30; - >1;0405B 2>7<>6=>ABO<8 :>;8G5AB25==>9 8 :0G5AB25==>9 >F5=:8 8=48284C0;L=KE >A>15==>AB59 CG0I53>AO; - ?@54>AB02;O5B 2>7<>6=>ABL 4;O >F5=:8 @57C;LB0B82=>AB8 8A?>;L7C5<KE 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89 8;8 8E @5F8482>2. @8B5@80;L=CN >A=>2C <>=8B>@8=30 45BA:>3> =51;03>?>;CG8O A>AB02;ONB ?@87=0:8 ?A8E>D878G5A:>9, ?5403>38G5A:>9, A>F80;L=>9 8 ?A8E>;>38G5A:>9 3>B>2=>AB8 2>A?8B0==8:0 : CA?5H=><C 87<5=5=8N 2 E>45 ?@>D8;0:B8G5A:>9 45OB5;L=>AB8 ?5403>38G5A:>3> :>;;5:B820. >;8G5AB25==0O >F5=:0 >ACI5AB2;O5BAO ?> 5-B8 10;;L=>9 A8AB5<5. 0G5AB25==0O >F5=:0 70?8AK205BAO 2 2845 :><<5=B0@8O ?> :064>9 H:0;5. 0 ?@>BO65=88 42CE <5AOF52 2A5 A?5F80;8ABK, 8A?>;L7CO 2 >A=>2=>< <5B>4 =01;N45=8O, 254CB A1>@ 8=D>@<0F88 > @515=:5. 0B5< ?>;CG5==K5 40==K5 >D>@<;ONBAO 2 >1>1I5==K9 ?>@B@5B 2>A?8B0==8:0 - ?@>D8;L. "0:8< >1@07><, =0 >A=>25 ?@>3@0<<K <>=8B>@8=30 G;5=K ?5403>38G5A:>3> :>;;5:B820: - ?@>2>4OB ?5@2>=0G0;L=CN, 48=0<8G5A:CN 8 8B>3>2CN 4803=>AB8:C; - A>740NB ?@>D8;L (?>@B@5B) @515=:0; - A>AB02;ONB 8=48284C0;L=CN ?@>3@0<<C ?@>D8;0:B8:8 ?@02>=0@CH5=8O 2>A?8B0==8:0 8;8 53> @5F8482>2; - @0A?@545;ONB <564C A>1>9 "7>=K >B25BAB25==>AB8" ?> @50;870F88 ?@>D8;0:B8G5A:>9 45OB5;L=>AB8; - >F5=820NB MDD5:B82=>ABL ?@>D8;0:B8G5A:8E ?@>3@0<<; 0 >A=>25 40==KE <>=8B>@8=30 D>@<8@CNBAO 3@C??>->@85=B8@>20==K5 ?@>3@0<<K ?@>D8;0:B8:8 ?@02>=0@CH5=89, A 2K45;5=85< >1I8E 4;O 3@C??K 2>A?8B0==8:>2 ?@>1;5<. !8AB5<0 AB0BCA>2 @51Q=:0 3@C??K @8A:0 2 @01>G5< 20@80=B5 ?@54AB02;5=0 2 @8;>65=88 8. 4. "5E=>;>38O :><?;5:A=>3> A>?@>2>645=8O 8 ?5403>38G5A:0O ?>445@6:0 ?>4@>AB:>2 3@C??K A>F80;L=>3> @8A:0 >-=0AB>OI5<C MDD5:B82=>9 <>6=> =0720BL A8AB5<C A>?@>2>645=8O, :>B>@0O ?>72>;O5B >?@545;OBL ?@>1;5<K, =0E>48BL 8E A8AB5<>>1@07CNI85 ?@8G8=K, >1>7=0G0BL ?CBL 8E @5H5=8O 8 =09B8 4;O MB>3> A@54AB20, =5 >1O70B5;L=> 2 H:>;5. 57CA;>2=>, A;>6=>ABL ?@>1;5<K ?@54?>;0305B 2:;NG5=85 2 ?@>F5AA ?@>D8;0:B8:8 ?><8<> 04<8=8AB@0F88 8 ?5403>3>2 H:>; A?5F80;8AB>2 87 4@C38E >@30=>2 8 254><AB2. .. 50= ?@54;0305B A;54CNICN <>45;L 2708<>459AB28O H:>;K A 4@C38<8 AC1J5:B0<8 A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E (28). &5=B@0;L=>9 >@30=870F8>==>-AB@0B538G5A:>9 84559 ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E, ?> <=5=8N CGQ=>3>, O2;O5BAO 8=B53@0F8O CA8;89 >@30=>2 3>AC40@AB25==>9 8 <C=8F8?0;L=>9 2;0AB8, >1I5AB25==KE 8 =5:><<5@G5A:8E >@30=870F89, 0 B0:65 187=5A AB@C:BC@ 2 @5H5=88 A>F80;L=KE ?@>1;5< 45BAB20. @8>@8B5B=K< ?@87=0QBAO =0?@02;5=85 MB8E 8=B53@0B82=KE CA8;89 =0 ?>AB@>5=85 A8AB5<=>9 :><?;5:A=>9 ?@>D8;0:B8G5A:>9 @01>BK, ?@54<5B>< :>B>@>9 O2;O5BAO ?@54C?@5645=85 @0728B8O A>F80;L=>3> A8@>BAB20, 157=047>@=>AB8, 0A>F80;L=>3> 8 :@8<8=0;L=>3> ?>2545=8O A@548 45B59 8 ?>4@>AB:>2. @8 MB>< >1J5:B>< 2=8<0=8O 8 701>BK AB0=>28BAO =5 B>;L:> @51Q=>:, => 8 53> A5<LO, :0: >A=>2>?>;030NI89 8=AB8BCB A>F80;870F88 @51Q=:0. 50= ?@82>48B @57C;LB0BK 8AA;54>20=8O, :>B>@K5 A>2?040NB A @57C;LB0B0<8 8AA;54>20=89, ?@>254Q==KE ;01>@0B>@859 5B8 C;8FK 2 2003 3>4C > ?5@2>AB5?5==>9 @>;8 @>48B5;59 :0: 8AB>G=8:5 M<>F8>=0;L=>9 ?>445@6:8 @0ABCI53> G5;>25:0. @8 MB>< >B25@65=85 ?>4@>AB:>< @>48B5;59, 8E =5?@8OB85 O2;O5BAO ?@87=0:>< B>B0;L=>3> =530B8287<0 @51Q=:0 : A0<><C A515, 4@C38< ;N4O<, >1I5AB2C 2 F5;><, GB> ?@82>48B : =0@CH5=8N 8< 2A5E ?@028; 8 =>@< :0: >1J5:B>2 2@06451=>3> <8@0. A=>2=K<8 7040G0<8 ?@>D8;0:B8:8 CGQ=K9 2848B A;54CNI85: $>@<8@>20=85 8=D>@<0F8>==>3> 10=:0 40==KE A5<59 8 45B59 3@C??K @8A:0 (:0640O AB@C:BC@0 ?@54>AB02;O5B A2>8 :0@B>B5:8, 8E A;8G0NB 8 2K@010BK20NB A>3;0A>20==K9 A?8A>:); @>2545=85 4803=>AB8G5A:>3> >1A;54>20=8O 45B59 8 A5<59 3@C??K @8A:0; @>2545=85 8=48284C0;L=>9 :>@@5:F8>==>-@5018;8B0F8>==>9 @01>BK A A5<LO<8 8 45BL<8 3@C??K @8A:0 (2 7028A8<>AB8 >B ?@>1;5<K 8<8 70=8<0NBAO <548F8=A:85 @01>B=8:8, A>B@C4=8:8 ?@02>>E@0=8B5;L=KE >@30=>2, A>F80;L=K5 @01>B=8:8, ?A8E>;>38 8 4@.); !>740=85 @01>G8E <5AB ?CBQ< D>@<8@>20=8O B@C4>2KE 1@8304 87 27@>A;KE G;5=>2 A5<59 3@C??K @8A:0 (40==K9 >?KB <K =01;N40;8 2 ?>A. -;L10= 2 %010@>2A:>< :@05); =54@5=85 =>2KE ?A8E>;>3>-?5403>38G5A:8E B5E=>;>389 2 >1;0AB8 ?@>D8;0:B8G5A:>9 8 :>@@5:F8>==>9 @01>BK A A5<LO<8 8 45BL<8 3@C??K @8A:0 2 ?@0:B8:C @01>BK >1@07>20B5;L=KE 8 2>A?8B0B5;L=KE CG@5645=89; !>25@H5=AB2>20=85 ?@02>2KE, >@30=870F8>==KE, D8=0=A>2>-M:>=><8G5A:8E <5E0=87<>2, >15A?5G820NI8E MDD5:B82=>5 2708<>459AB285 CG@5645=89, 70=8<0NI8EAO ?@>1;5<0<8 45B59; !>740=85 >1I5AB25==>3> <=5=8O ?> ?@8>@8B5BC A5<59=>3> 2>A?8B0=8O 45B59; >2KH5=85 ?@>D5AA8>=0;87<0 ?5403>3>2 2 >1;0AB8 ?@>D8;0:B8:8 @0728B8O A>F80;L=KE >B:;>=5=89 A5<L8 8 45B59; @82;5G5=85 2>;>=BQ@>2 87 G8A;0 ABC45=B>2 ?5403>38G5A:8E 2C7>2 8 CG8;8I 4;O @01>BK A A5<LO<8 8 45BL<8 3@C??K @8A:0. @54;0305<K5 .. 50= MB0?K ?@>3@0<<K A>2?040NB 2 >A=>2=KE <><5=B0E A MB0?0<8, ?@54;>65==K<8 =0<8 2 ?>A>188 @30=870F8O 45OB5;L=>AB8 H:>; ?> ?@>D8;0:B8:5 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E. %010@>2A:, 2004. 865 2 4>@01>B0==>< 20@80=B5 ?@82>48< ?>A;54>20B5;L=>ABL MB0?>2 A>?@>2>645=8O @51Q=:0 3@C??K A>F80;L=>3> @8A:0 8 7040G8 ?> :064><C 87 =8E: KO2;5=85 45B59 8 A5<59 3@C??K @8A:0 =0 1>;55 @0==59 AB0488 457040?B82=>3> ?@>F5AA0: ?@545;8BL : :0:>9 F5;52>9 3@C??5 @8A:0 >B=>A8BAO @51Q=>:. @>25AB8 0=0;87 A>F8>:C;LBC@=>9 A8BC0F88 @0728B8O: D>@<K >B:;>=ONI53>AO ?>2545=8O, B8? A5<L8, AB8;L A5<59=>3> 2>A?8B0=8O, D0:B>@K @8A:0 (;8G=>ABL, A5<LO, H:>;0), AB048O 457040?B0F88. 803=>AB8:0 D0:B>@>2 @8A:0 8 ?@8G8= =51;03>?>;CG8O: KO28BL >A=>2=K5 D0:B>@K @8A:0. ?@545;8BL D0:B>@K 70I8BK. K9B8 =0 >A=>2=K5 (A8AB5<>>1@07CNI85) ?@8G8=K ?@>1;5<0B8:8 @51Q=:0. ?@545;8BL ?@8G8=K, A :>B>@K<8 H:>;0 <>65B @01>B0BL =0?@O<CN 8 B5, 345 =5>1E>48<> 2<5H0B5;LAB2> A?5F80;8AB>2 87 4@C38E >@30=>2 8 254><AB2. 07@01>B:0 8=48284C0;L=>9 ?@>3@0<<K A>?@>2>645=8O: ?@545;8BL >?B8<0;L=CN :><0=4C 8 CA;>28O A>?@>2>645=8O (=0;8G85 A?5F80;8AB>2, 8=D@0AB@C:BC@K 8;8 A5B8 ?>445@6:8, 04<8=8AB@0B82=KE 8 <0B5@80;L=KE @5AC@A>2). 07@01>B0BL ?@>3@0<<C 459AB289 (>68405<K5 @57C;LB0BK, A@>:8, <5B>4K, B5E=>;>388 A>?@>2>645=8O, :@8B5@88 CA?5H=>AB8, MB0?K @01>BK, :>>@48=0F8O 459AB289, 7>=K >B25BAB25==>AB8). 50;870F8O 8=48284C0;L=>9 ?@>3@0<<K A>?@>2>645=8O: ;O 45B59 3@C??K ?>2KH5==>3> 2=8<0=8O, B5E, :B> =5 A>25@H8; ?@02>=0@CH5=8O, => 8<55B @8A: 457040?B82=>3> @0728B8O - >@30=87>20BL A5BL ?>445@6:8, ?@>4C:B82=K9 4>AC3; 2 A;CG05 :>=D;8:B0 >ACI5AB28BL ?>A@54=8G5A:85 DC=:F88 4;O =>@<0;870F88 >B=>H5=89 8 ?>2KH5=8O AB0BCA0 ?>4@>AB:0; 2>2;5GL 53> 2 A>F80;L=>5 ?@>5:B8@>20=85, A?>@B82=CN 8 B2>@G5A:CN 45OB5;L=>ABL, >1CG8BL 2 3@C??5 B@5=8=30 A>F80;L=K< =02K:0<, A>740BL A8BC0F8N CA?5E0; ;O 45B59 3@C??K >A>1>3> 2=8<0=8O - 2 A;CG05 ?@>B82>?@02=KE 459AB289 2K@01>B0BL 8 ?@8<5=8BL 045:20B=K5 A0=:F88 G5@57 @50;870F8N ?>4E>4>2 N25=0;L=>9 NAB8F88, =0?@02;5==KE =0 2>AAB0=>2;5=85 =0=5AQ==>3> CI5@10, 87<5=5=85 >B=>H5=8O : A>45O==><C; 70:@5?8BL 70 ?>4@>AB:>< ?5@A>=0;L=>3> A>?@>2>640NI53>, 2KO282 40==>5 ;8F> ?>A@54AB2>< @5D5@5=B><5B@88; >@30=87>20BL ?@>3@0<<C <5@ ?> @5A>F80;870F88 8 :>@@5:F88 >B:;>=ONI53>AO ?>2545=8O, 87<5=5=8N F5==>AB59 8 CAB0=>2>:.  A;CG05 2KO2;5=8O @8A:>2 2 A5<L5 ?@8<5=8BL B5E=>;>388 @8<8@5=85 2 A5<L5 8;8 @C3 701>BK (12). 7<5@5=85 @57C;LB0B82=>AB8 @01>BK A @51Q=:>< 8 53> 1;8609H8< >:@C65=85<:  :0G5AB25 8=48:0B>@>2 >F5=:8 <>6=> 8A?>;L7>20BL  AB0488 457040?B0F88, :>MDD8F85=B A>F80;L=>9 040?B0F88, A>F80;L=K9 >?KB, ;8G=K5 4>AB865=8O, C@>25=L <>B820F88 4>AB865=89, A>F80;L=K9 8=B5@5A, B2>@G5A:89 ?>B5=F80;, ?>:070B5;8 AB0BCA0 @51Q=:0. 5B>4K >F5=:8  >1@0B=0O A2O7L >B ?>4@>AB:0, <=5=85 @>48B5;59, CG8B5;59, >4=>:;0AA=8:>2, 2E>4=0O 8 2KE>4=0O 4803=>AB8:0, CGQB ?@>ABC?:>2 8 A>F80;L=KE 4>AB865=89, 0=0;87 ?@>4C:B>2 45OB5;L=>AB8, A>F8> 8 @5D5@5=B><5B@8O. AB>G=8:8 8=D>@<0F88  @57C;LB0BK B5AB8@>20=8O, 0=:5B8@>20=8O, M:A?5@B=K5 >F5=:8, >B7K2K CG8B5;59 >1 0:B82=>AB8 ?>4@>AB:0 2 45;0E :;0AA0 8 H:>;K, CGQ15 8 B@C45, <8;8F59A:85 A2>4:8 8 4@. A;8 459AB28O >:070;8AL =5 MDD5:B82=K: ?@545;8BL ?@8G8=K (GB> =5 A@01>B0;> 2 ?@>3@0<<5 459AB289); B:>@@5:B8@>20BL ?@>3@0<<C A CGQB>< 2KO2;5==KE >H81>:; >4:;NG8BL 4>?>;=8B5;L=K5 @5AC@AK, >?B8<878@>20BL <5B>4K; 0AA<>B@5BL 2>?@>A > ?5@52>45 @51Q=:0 =0 0;LB5@=0B82=CN D>@<C >1CG5=8O 8;8 ?>AB028BL 2>?@>A > 53> ?@>D5AA8>=0;L=>9 ?>43>B>2:5 8 ?>A;54CNI5< B@C4>CAB@>9AB25. A;8 ?@>3@0<<0 459AB289 40;0 ?>;>68B5;L=K9 @57C;LB0B: 025@H8BL ?@>3@0<<C (A=OBL @51Q=:0 A CGQB0, ?5@525AB8 2 2KH5AB>OICN 3@C??C); @>0=0;878@>20BL 8 >?8A0BL A>F80;L=>-?5403>38G5A:89 >?KB; =5AB8 87<5=5=8O 2 10=: 40==KE. 57C;LB0BK 2>A?8B0B5;L=>3> ?@>F5AA0 >1KG=> =>AOB =5>4=>7=0G=K9 E0@0:B5@. -B> 7028A8B >B 8=48284C0;L=>-B8?>;>38G5A:8E @07;8G89 ?>4@>AB:>2, 8E 687=5==>3> 8 =@02AB25==>3> >?KB0, 2=CB@5==59 ?>78F88. >B ?>G5<C >4=8 8 B5 65 2>A?8B0B5;L=K5 2>7459AB28O <>3CB 2K720BL "M<>F8>=0;L=K5 ?>B@OA5=8O ;8G=>AB8" (.!. 0:0@5=:>), => <>3CB 8 =5 ?@82>48BL : 87<5=5=8N 4CE>2=>3> <8@0, ?>2545=8O ?>4@>AB:0. @>F5AA ?5@52>A?8B0=8O (A>?@>2>645=8O) =5?@5@K25=, 845B A @07=>9 A:>@>ABLN, 53> =5;L7O D>@A8@>20BL. .!. 0:0@5=:> >B<5G0;, GB> ?5@52>A?8B0=85 B@51C5B 8 1>;LH8E A8;, 1>;LH8E 7=0=89, 8 1>;LH>3> B5@?5=8O. = =>A8B A:0G:>>1@07=K9 E0@0:B5@, 53> @57C;LB0BK =5 284=K A@07C. 564C =0G0;>< ?5403>38G5A:>3> 2>7459AB28O 8 ?@>O2;5=8O<8 CAB>9G82>3> =>@<0B82=>3> ?>2545=8O <>65B ;560BL 4;8B5;L=K9 ?5@8>4. >4@>AB>: 3@C??K @8A:0 - MB> =5 B>;L:> >1J5:B, => 8 AC1J5:B 2>A?8B0=8O. >MB><C C =53> =5>1E>48<> @072820BL ?>B@51=>ABL 2 A0<>0=0;875, A0<>>F5=:5, A0<>2>A?8B0=88. !C1J5:B - AC1J5:B=K9 E0@0:B5@ 2708<>>B=>H5=89 =0AB02=8:0 8 2>A?8B0==8:0 ?>72>;O5B @50;87>20BL 2>7<>6=>AB8 42CE >A=>2=KE :0=0;>2 ?5@540G8 ?>78B82=>3> A>F80;L=>3> >?KB0: >1I5=8O 8 2708<>459AB28O. !>?@>2>645=85 - MB> B@C4=K9 ?@>F5AA 8 4;O 2>A?8B0==8:0 8 4;O 2>A?8B0B5;O. >A?8B0==8: 4>;65= 708=B5@5A>20BLAO ?5@A?5:B82>9 =>2>3> ?CB8. >A?8B0B5;L 4>;65= ?>25@8BL 2 ?>4@>AB:0, ?@>0=0;878@>20BL ?@>H;>5, =0AB>OI55 8 1C4CI55 2>A?8B0==8:0, =5 C?@5:0O 53> ?@>H;K<. KAB@>8BL AB@0B538N 8=48284C0;L=>9 ?@>D8;0:B8G5A:>9 @01>BK =0AB02=8:0 (2 MB>< :0G5AB25 <>65B 2KABC?0BL =5 B>;L:> ?A8E>;>3, A>F80;L=K9 ?5403>3, :;0AA=K9 @C:>2>48B5;L, => 8 ;N1>9 7=0G8<K9 4;O ?>4@>AB:0 27@>A;K9) A ?>4@>AB:><-?@02>=0@CH8B5;5< ?><>65B =5 B>;L:> 7=0=85 >A>15==>AB59 ?@>F5AA0 ?5@52>A?8B0=8O, => 8 87CG5=85 ?>4@>AB:>2>9 457040?B0F88. !>F80;L=>- ?A8E>;>38G5A:85 8AA;54>20=8O A2845B5;LAB2CNB > B><, GB> ?@>B82>?@02=>5 ?>2545=85 O2;O5BAO @57C;LB0B>< =51;03>?@8OB=>3> A>F80;L=>3> @0728B8O, =0@CH5=89 A>F80;870F88, 2>7=8:0NI8E =0 @07;8G=KE 2>7@0AB=KE MB0?0E. A>1K9 ?8: B0:8E =0@CH5=89 ?@8E>48BAO =0 ?>4@>AB:>2K9 2>7@0AB, B0: =07K205<K9 ?5@5E>4=K9 >A>1K9 ?5@8>4 >B 45BAB20 : 7@5;>AB8. 4=0:>, :0: 8725AB=>, A0<8 ?> A515 >A>15==>AB8 ?>4@>AB:>2>3> 2>7@0AB0 : =0@CH5=8O<, 0 B5< 1>;55 : ?@5ABC?;5=8O< =5 ?@82>4OB. ;O MB>3> =5>1E>48<K 2=CB@5==85 45D>@<0F88 8 A>>B25BAB2CNI85 8< A8BC0B82=K5 CA;>28O, A?>A>1AB2CNI85 A>F80;L=>9 457040?B0F88. >4 A>F80;L=>9 457040?B0F859 ?>=8<0NB =0@CH5=8O 2708<>459AB28O 8=482840 A> A@54>9, :>B>@K5 E0@0:B5@87CNBAO =52>7<>6=>ABLN >ACI5AB2;5=8O 8< 2 :>=:@5B=KE <8:@>A>F80;L=KE CA;>28OE A2>59 A>F80;L=>9 @>;8, A>>B25BAB2CNI59 53> 2>7<>6=>ABO< 8 70?@>A0<. !.. 5;8G520 (1994) @0AA<0B@8205B >1ICN 48DD5@5=F80F8N 8 B8?>;>38N 45BA:>-?>4@>AB:>2>9 457040?B0F88.  7028A8<>AB8 >B ?@8@>4K, E0@0:B5@0 8 AB5?5=8 2K45;ONB A;54CNI85 284K: ?0B>35==0O, ?A8E>A>F80;L=0O 8 A>F80;L=0O 457040?B0F8O. 0B>35==0O 457040?B0F8O 2K720=0 >B:;>=5=8O<8, ?0B>;>38O<8 ?A8E8G5A:>3> @0728B8O 8 =5@2=> - ?A8E8G5A:8<8 701>;520=8O<8, 2 >A=>25 :>B>@KE ;560B DC=:F8>=0;L=> - >@30=8G5A:85 ?>@065=8O F5=B@0;L=>9 =5@2=>9 A8AB5<K 8 ?A8E8:8. A8E>A>F80;L=0O 457040?B0F8O, A2O70=0 A ?>;>2>7@0AB=K<8 8 8=48284C0;L=> - ?A8E>;>38G5A:8<8 >A>15==>ABO<8 @515=:0, ?>4@>AB:0. 07;8G=K5 ?@>1;5<K ?A8E>A>F80;L=>9 457040?B0F88 8AA;54>20B5;8 45;OB =0 2@5<5==K5 8 CAB>9G82K5.  2@5<5==K< =5CAB>9G82K< D>@<0< ?A8E>A>F80;L=>9 457040?B0F88 >B=>AOB A;54CNI85: ?A8E>D878>;>38G5A:85 ?>;>2>7@0AB=K5 >A>15==>AB8 >B45;L=KE :@878A=KE ?5@8>4>2 @0728B8O; @07;8G=K5 ?@>O2;5=8O =5@02=><5@=>3> ?A8E8G5A:>3> @0728B8O, :>B>@K5 <>3CB 2K@060BLAO 2 ?0@F80;L=>9 7045@6:5, ;81> >?5@565=88 @0728B8O >B45;L=KE ?A8E8G5A:8E ?@>F5AA>2; >?5@560NI53>, ;81> >BAB0NI53> ?A8E>A5:AC0;L=>3> @0728B8O 8 B. ?.; >B45;L=K5 ?A8E8G5A:85 A>AB>O=8O, A?@>2>F8@>20==K5 @07;8G=K<8 ?A8E>B@02<8@CNI8<8 >1AB>OB5;LAB20<8 (:>=D;8:B A @>48B5;O<8, =5:>=B@>;8@C5<>5 M<>F8>=0;L=>5 A>AB>O=85, 2K720==>5 ?5@2>9 N=>H5A:>9 2;N1;5==>ABLN, ?5@56820=8O AC?@C65A:8E @07;04>2 2 @>48B5;LA:8E >B=>H5=8OE 8 B.?.)  CAB>9G82K< D>@<0< ?A8E>A>F80;L=>9 457040?B0F88 >B=>AOB 0:F5=BC0F88 E0@0:B5@0, >?@545;ONI85AO :0: :@09=55 ?@>O2;5=85 =>@<, 70 :>B>@K<8 =0G8=0NBAO ?A8E>?0B8G5A:85 ?@>O2;5=8O.  ?>4@>AB:>2>< 2>7@0AB5 G5@BK 0:F5=BC0F859 E0@0:B5@0 70>AB@ONBAO, 0 ?@8 =0;8G88 2 A>F80;L=>9 A8BC0F88 @0728B8O ?>4@>AB:0 ?A8E>35==KE D0:B>@>2, 04@5ACNI8EAO, ?> 2K@065=8N .!. 8G:>, : "<5ABC =08<5=LH53> A>?@>B82;5=8O", E0@0:B5@=><C 4;O 40==>9 0:F5=BC0F88, <>3CB ?@825AB8 : O2;5=8O< A>F80;L=>9 457040?B0F88 8 D>@<8@>20=8N ;8G=>AB8 ?> A>>B25BAB2CNI5<C ?A8E>?0B8G5A:><C B8?C.  CAB>9G82K< D>@<0< ?A8E>A>F80;L=>9 457040?B0F88 >B=>AOBAO B0:65 =51;03>?@8OB=K5 8=48284C0;L=>-?A8E>;>38G5A:85 >A>15==>AB8 M<>F8>=0;L=>-2>;52>9 <>B820F8>==>-?>7=020B5;L=>9 AD5@K, 2:;NG0O B0:85 45D5:BK, :0: A=865=85 M<?0B89=>AB8, 8=48DD5@5=B=>ABL 8=B5@5A>2, =87:0O ?>7=020B5;L=0O 0:B82=>ABL, 45D5:BK 2>;52>9 AD5@K (1572>;85, =5>?@0240==>5 C?@O<AB2>& ). !>F80;L=0O 457040?B0F8O ?@>O2;O5BAO 2 =0@CH5=88 =>@< <>@0;8 8 ?@020, 2 0A>F80;L=KE D>@<0E ?>2545=8O 8 45D>@<0F88 A8AB5<K 2=CB@5==59 @53C;OF88, @5D5@5=B=KE 8 F5==>AB=KE >@85=B0F89, A>F80;L=KE CAB0=>2>:. =0;87 ?A8E>;>3>-?5403>38G5A:>9 ;8B5@0BC@K (577C1>20 .., 5;8G520 !., 20=>20 ./., C<0@8=0 .., >G5B>2 .., !0==8:>2 .. 8 4.@.) ?>72>;O5B 2K45;8BL E0@0:B5@8AB8:8 ?5403>38G5A:8 70?CI5==KE ?>4@>AB:>2: =0@CH5=8O 2 ?>7=020B5;L=>9 AD5@5; >A>15==>AB8 ?>2545=8O, 2K@060NI53>AO 2 @50:F8OE 8<8B0F88 8;8 ?>4@060=8O >B@8F0B5;L=K< ?@8<5@0<, A8AB5<0B8G5A:8 ?>2B>@ONI55AO 0A>F80;L=>5 ?>2545=85, ?0B>;>38G5A:>5 @0728B85 E0@0:B5@0, 2K@065==>5 2 0:F5=BC0F8OE; 70B@C4=5==>ABL 2 >1I5=88, =0@CH5=8O 2 AD5@5 >B=>H5=89, 2 B>< G8A;5 : A0<><C A515. '0AB> ?5403>38G5A:8 70?CI5==K5 ?>4@>AB:8 ?5@5E>4OB 2 3@C??C A>F80;L=> 70?CI5==KE, 4;O :>B>@KE E0@0:B5@=K A5@L57=K5 >B:;>=5=8O: 1@>4O6=8G5AB2>, =0@:><0=8O, 0;:>3>;87<, ?@02>=0@CH5=8O, 0<>@0;L=>5 ?>2545=85 4@. (5;8G520 !.. A=>2K ?@525=B82=>9 ?A8E>;>388. - ., 1994. - !. 94-95.) AA;54>20B5;8 >B<5G0NB, GB> 2 >B=>H5=88 B0:>3> @>40 B@C4=>2>A?8BC5<KE ?>4@>AB:>2 =5>1E>48<K A?5F80;L=K5 <5@K A>F80;L=>-?5403>38G5A:>9 ?>445@6:8. .!. 5;8G520 (1994) AD>@<C;8@>20;0 ?@8=F8?K A>F80;L=>-?5403>38G5A:>9 ?>445@6:8 ?> @5018;8B0F88 B@C4=>2>A?8BC5<KE: C<5=85 2845BL ?>;>68B5;L=>5 2 ?>2545=88 "B@C4=>3>" 8 >?8@0BLAO =0 ?>;>68B5;L=K5 :0G5AB20 ?>4@>AB:0; D>@<8@>20=85 1C4CI8E 687=5==KE CAB@5<;5=89 ?>4@>AB:0, A2O70==KE A 1C4CI59 ?@>D5AA859; 2:;NG5=85 2 >1I5AB25==>-?>;57=CN :>;;5:B82=CN 45OB5;L=>ABL, ?>72>;ONICN @50;87>20BL ?>B@51=>ABL 2 A0<>CB25@645=88; @0728B85 ?>;57=KE 8=B5@5A>2 8 2KAH8E 4CE>2=KE F5==>AB59; 3;C1>:0O 4>25@8B5;L=>ABL 8 C2065=85 2> 2708<>>B=>H5=8OE A ?>4@>AB><. 50;870F8O 40==KE ?@8=F8?>2 2 8=48284C0;L=> ?@>D8;0:B8G5A:>9 @01>B5 2>A?8B0B5;O <>65B >ACI5AB2;OBLAO A ?><>ILN B5E=>;>388 ?5403>38G5A:>9 ?>445@6:8, @07@01>B0==>9 .!. 07<0=><. ! >@30=870F8>==>9 ?>78F88 ?5403>38G5A:0O ?>445@6:0 2 45OB5;L=>AB8 A?5F80;8AB0 (?A8E>;>30, A>F80;L=>3> ?5403>30, :;0AA=>3> @C:>2>48B5;O) <>65B 1KBL ?@54AB02;5=0 A;54CNI8<8 MB0?0<8: 4803=>AB8G5A:8<, ?>8A:>2K<, 4>3>2>@=K<, 45OB5;L=>AB=K<, @5D;5:A82=K<.  CA;>28OE H:>;K 40==K5 MB0?K <>3CB 1KBL ?@54AB02;5=K A;54CNI5< 0;3>@8B<>< 45OB5;L=>AB8 ?5403>38G5A:>9 :><0=4K. 803=>AB8G5A:89 MB0? ?@54?>;0305B D8:A0F8N D0:B0 ?@02>=0@CH5=8O, 2A5AB>@>==89 0=0;87 A>F8>:C;LBC@=>9 A8BC0F88, 2KO2;5=85 >A=>2=>9 ?@>1;5<0B8:8 ?>4@>AB:0 8 D0:B>@>2 @8A:0. >A;5 0=0;870 A8BC0F88 8 2KO2;5=8O >A=>2=KE ?@>1;5< ?>4@>AB:0 >?@545;O5BAO :><?;5:A ?@8G8= 2K7202H8E 40==CN A8BC0F8N 8 ?@8254H8E : ?@>B82>?@02=><C ?>2545=8N. @8 MB>< 2KO2;O5BAO :@C3 ?@8G8=, =0 :>B>@K5 <>6=> 2>7459AB2>20BL A F5;LN 8E 87<5=5=8O 2 CA;>28OE >1@07>20B5;L=>3> CG@5645=8O  A >4=>9 AB>@>=K 8 ?@8G8=, =0 :>B>@K5 <>6=> ?>2;8OBL >?>A@54>20==> G5@57 ?@82;5G5=85 A?5F80;8AB>2 >@30=>2 8 A;C61 A8AB5<K ?@>D8;0:B8:8  A 4@C3>9. 803=>AB8:0 ?@>2>48BAO ?>A@54AB2>< >?@545;5=8O C@>2=59 ;8G=>AB=>9 7@5;>AB8 =0 >A=>25 >?8A0=8O G5BK@QE AB0BCA>2 ?>4@>AB:0: ?A8E>D878G5A:>3>, ?5403>38G5A:>3>, A>F80;L=>3>, ?A8E>;>38G5A:>3>. !B0BCA >?@545;O5BAO A ?><>ILN M:A?5@B=KE >F5=>: ?5403>3>2 8 A?5F80;8AB>2 2 40==>9 >1;0AB8 ?> A?5F80;L=> @07@01>B0==>9 ?OB8 10;L=>9 H:0;5 A 8A?>;L7>20=85< :>;8G5AB25==>3> 8 :0G5AB25==>3> 0=0;870. @><5 MB>3> 84QB 70?>;=5=85 0@BK ;8G=>AB8 ?>4@>AB:0 3@C??K @8A:0 8 4803=>AB8:0, 7=0G8<KE 4;O ;8G=>AB=>3> @>AB0 ?>:070B5;59: <>B820F88 4>AB865=8O, A>F80;L=>3> 8=B5@5A0, B2>@G5A:>3> ?>B5=F80;0, 0 B0:65 A;>6=KE A>AB>O=89: D@CAB@0F88, B@52>6=>AB8, 03@5AA88, @8384=>AB8. #@>25=L 0:BC0;L=>3> A>AB>O=8O ?> AB0BCA0< >BA;568205BAO @01>G8<8 3@C??0<8, =0G8=0O A >?@545;5=8O ?>4@>AB:0 2 3@C??C A>F80;L=>3> @8A:0, => >F5=:8 ?> :064><C AB0BCAC 2KAB02;ONBAO B>;L:> G5@57 420 <5AOF0 A ?><>ILN :><?;5:A=>3> 87CG5=8O @07;8G=KE AB>@>= ;8G=>AB8 =0 >A=>25 2K@01>B:8 :>=A5=ACA0 <564C G;5=0<8 @01>G59 3@C??K. 5B>4K 4803=>AB8:8: AB@C:BC@8@>20==>5 =01;N45=85, 0=0;87 4>:C<5=B>2, ?>2545=8O, ?@>4C:B>2 45OB5;L=>AB8, 15A54K, 8=B5@2LN, @57C;LB0BK <548F8=A:8E >A<>B@>2, M:A?5@B=0O >F5=:0 8 4@. ?8A0=85 <5B>48:8 ?@>2545=8O 40==>9 4803=>AB8:8 ?@54AB02;5=K 2 @8;>65=8OE, 0 B0:65 2 =0H5< ?@54K4CI5< ?>A>188 (12). !>F80;L=K9 ?5403>3 8 ?A8E>;>3 7=0:><OBAO A ;8G=K< 45;>< ?>4@>AB:0, 2KOA=ONB ?@8G8=K A>F80;L=>9 70?CI5==>AB8, AB5?5=L 8 E0@0:B5@ 457040?B0F88, C@>25=L CG51=>9 <>B820F88, 8=B5;;5:BC0;L=>3> @0728B8O ;8G=>AB8 ?>4@>AB:0. 040G0 A?5F80;8AB>2 =0 ?5@2>< MB0?5 - CAB0=>28BL :>=B0:B A 2>A?8B0==8:><. .. $8;>=>2K< @07@01>B0=0 B5E=>;>38O CAB0=>2;5=8O :>=B0:B0 A 457040?B8@>20==K<8 ?>4@>AB:0<8. = 2K45;O5B =5A:>;L:> AB0489 2 @073>2>@5 A =8<: =0:>?;5=85 A>3;0A89 2> 273;O40E, 2K7>2 A>3;0A89 A> AB>@>=K ?>4@>AB:0; ?>8A: 53> C2;5G5=89, ?>=OB85 >A>15==>AB59 53> C2;5G5=89 8 ?>2545=8O; >?@545;5=85 >B@8F0B5;L=KE :0G5AB2 53> ;8G=>AB8, 53> @50:F88 =0 ?>AB>@>==55 2;8O=85; 2K@01>B:0 >1I8E =>@< ?>2545=8O 8 2708<>459AB28O. >8A:>2K9 - >@30=870F8O A>2<5AB=>3> A> H:>;L=8:>< ?>8A:0 ?@8G8= 2>7=8:=>25=8O ?@>1;5<K, 2>7<>6=KE ?>A;54AB289 55 A>E@0=5=8O (8;8 ?@5>4>;5=8O); 273;O4 =0 A8BC0F8N A> AB>@>=K. &5;LN ?>8A:>2>3> MB0?0 O2;O5BAO >:070=85 ?>445@6:8 8 ?@8=OB85 ?>4@>AB:>< =0 A51O >B25BAB25==>AB8 70 2>7=8:=>25=85 8 @5H5=85 ?@>1;5<K A 8A?>;L7>20=85< 40==KE 4803=>AB8G5A:>3> MB0?0; ?><>IL 2 2KO2;5=88 A2O70==KE A ?@>1;5<>9 D0:B>@>2 8 >1AB>OB5;LAB2, ?@8G8=, :>B>@K5 ?@825;8 : 70B@C4=5=8N. A;8 =0 ?5@2>< MB0?5 206=> C2845BL ?@>1;5<C 3;070<8 A0<>3> ?>4@>AB:0, GB>1K ?>=OBL 53> A>AB>O=85, B> =0 2B>@>< MB0?5 A?5F80;8AB 2KAB@08205B @01>G85 38?>B57K ?> ?>2>4C 2>7<>6=KE ?@8G8= 2K7202H8E BC 8;8 8=CN ?@>1;5<C, >BA;568205B A8BC0F8N :0: 1K A> AB>@>=K. 1AC645=85 2>7<>6=KE ?>A;54AB289 ?@54?>;0305B 2;045=85 ?5403>3>< C<5=85< ?@542845BL, ?@54A:070BL, GB> ?@>87>945B 2 1;8609H89 8 >BA@>G5==K9 ?5@8>4, 5A;8 =5 ?@8=8<0BL =8:0:8E 459AB289. >8A:>2K9 MB0? ?@54?>;0305B 8 ?>445@6:C 2 >?@545;5=88 F5;8 ?@54AB>OI53> 2K1>@0: ?> E>4C 2KOA=5=8O D0:B>@>2 8 ?@8G8= ?@>O2;ONBAO ?@5420@8B5;L=K5 "@01>G85" 2K2>4K 8 A?>A>1K 4>AB865=8O F5;59 :0: 2KE>40 87 ?@>1;5<K. 040G0 ?5403>30 ?>445@60BL ?>4@>AB:0 2 ;N1>< 2K1>@5 8 2K@078BL 3>B>2=>ABL ?><>GL 2 ;N1>< A;CG05. >3>2>@=K9 - ?@>5:B8@>20=85 459AB289 ?5403>30 8 ?>4@>AB:0 (@0745;5=85 DC=:F89 8 >B25BAB25==>AB8 ?> @5H5=8N ?@>1;5<K), =0;06820=85 4>3>2>@=KE >B=>H5=89 8 70:;NG5=85 4>3>2>@0 2 ?@>872>;L=>9 D>@<5.  7028A8<>AB8 >B E0@0:B5@0 ?@>1;5<K 8 ?@8G8= 5Q 2K7202H8E A?5F80;8AB ?@8<5=O5B BC 8;8 8=CN A>F80;L=>-?5403>38G5A:CN B5E=>;>38N, @07@010BK205B A>2<5AB=> A ?>4>?5G=K< =081>;55 >?B8<0;L=K5 20@80=BK @07@5H5=8O B>3> 8;8 8=>3> ?@>B82>@5G8O. 0 40==>< MB0?5 >?@545;O5BAO B0:65 3@C??0 ;8F (2:;NG0O A0<>3> ?>4@>AB:0), :>B>@K5 >B25G0;8 1K 70 ?@>F5AA ?>78B82=KE 87<5=5=89, :064K9 =0 A2>Q< C@>2=5. 45AL 65 : ?>4@>AB:C 3@C??K >A>1>3> 2=8<0=8O ?@8:@5?;O5BAO =0AB02=8:, ?5@A>=0;L=> A>?@>2>640NI89 ?@>F5AA 87<5=5=89 2 ;8G=>AB8 8 ?>2545=88 2>A?8B0==8:0. 5OB5;L=>AB=K9 - 4;O >15A?5G5=8O CA?5E0 ?5403>3-=0AB02=8: 4>;65= ?>445@60BL ?>4@>AB:0 8 <>@0;L=> - ?A8E>;>38G5A:8, 8, 5A;8 =04>, ?@O<> 70I8I0BL 53> 8=B5@5AK 8 ?@020 ?5@54 A25@AB=8:0<8, @>48B5;O<8, CG8B5;O<8, 5A;8 MB> A2O70=> A >15A?5G5=85< 157>?0A=>AB8 =0 ?CB8 A0<>AB>OB5;L=>3> 459AB289. 07@5H5=85 ?@>1;5<K 2K1>@0 B@51C5B ?@82;5G5=8O A?5F80;8AB>2, 2KABC?0NI8E 2 42CE :0G5AB20E ?>445@60=8O 8;8 "@0AH0BK20=8O" 871@0==>9 ?>78F88 (?A8E>;>30, A>F80;L=>3> ?5403>30, CG8B5;O ?@54<5B=8:0 8 4@.). @8GQ< A>F80;L=K9 ?5403>3 <>65B 2K?>;=OBL DC=:F8N @0AH0BK20=8O, @0725=G0=8O =530B82=KE CAB0=>2>:, 0 ?A8E>;>3 27OBL =0 A51O @>;L M<>F8>=0;L=>9 >B4CH8=K, G5;>25:0, 157CA;>2=> ?@8=8<0NI53> ?>4@>AB:0, :0: 02B>=><=CN ;8G=>ABL, AB@5<OICNAO @50;87>20BL A2>9 B2>@G5A:89 8 A>F80;L=K9 ?>B5=F80;. 5403>3-=0AB02=8: =5 B>;L:> >1@0I05BAO : A?5F80;8AB0< 70 :>=AC;LB0F859, => 8 40QB =5>1E>48<CN 8=D>@<0F8N >1 >A>15==>ABOE ;8G=>AB8 8 ?>2545=8O A2>53> ?>4>?5G=>3> 4;O 1>;55 MDD5:B82=>9 ?><>I8 @515=:C 2 @07@5H5=88 ?@>1;5<. 5D;5:A82=K9 - MB> A>2<5AB=K5 A ?>4@>AB:>< >1AC645=8O CA?5E>2 8 =5C40G ?@54K4CI59 45OB5;L=>AB8, :>=AB0B0F8O D0:B0 @07@5H8<>AB8 8;8 =5@07@5H8<>AB8 ?@>1;5<K 4;O 55 ?5@5D>@<C;8@>20=8O, A>2<5AB=>5 >A<KA;5=85 =>2>3> >?KB0 687=545OB5;L=>AB8. -B>B MB0? <>65B 1KBL :0: 70:;NG8B5;L=K< 2 @07@5H5=88 ?@>1;5<K, B0: 8 =0G0;L=K<, ?>A:>;L:C 2 E>45 @5D;5:A88 <>3CB ">B:@KBLAO" =52848<K5 @0==55 ?@8G8=K 8 >1AB>OB5;LAB20 8 ?>=04>18BLAO ?5@5D>@<C;8@>20BL ?@>1;5<C, 8A:0BL =>2K5 ?CB8 55 @07@5H5=8O. 1AC640O A ?>4@>AB:>< ?@>42865=85 : @07@5H5=8N ?@>1;5<K, 2K45;ONBAO :;NG52K5 <><5=BK, ?>4B25@640NI85 ?@028;L=>ABL ;81> >H81>G=>ABL A?@>5:B8@>20==KE 459AB289. 06=> ?><>GL ?>4@>AB:C 70<5G0BL B5 87<5=5=8O, :>B>@K5 ?@>8AE>4OB :0: 2 =5< A0<><, B0: 8 2>:@C3 =53>! 5D;5:A82=K9 MB0? <>65B 1KBL 2K45;5= :0: A0<>AB>OB5;L=K9, 0 <>65B 8 ?@>=87K20BL 2AN 45OB5;L=>ABL ?>445@6:8. 5. ?KB 45OB5;L=>AB8 # !( 11 3. 8:>;052A:0-=0-<C@5 ?> ?@>D8;0:B8:5 45280=B=>3> ?>2545=8O CG0I8EAO  2002 3>4C 2 3. 8:>;052A:5-=0-<C@5 >B:@K;0AL :@0520O M:A?5@8<5=B0;L=0O ?;>I04:0 ?> B5<5: @>1;5<K A>F80;870F88 ?>4@>AB:>2, A:;>==KE : 45280=B=><C ?>2545=8N 2 @0<:0E >1@07>20B5;L=>3> ?@>F5AA0 2 H:>;5. -DD5:B82=>ABL 45OB5;L=>AB8 H:>;K 70 420 3>40 ?> 40==><C =0?@02;5=8N 1K;0 ?>4B25@645=0 A;54CNI8<8 @57C;LB0B0<8: 0B53>@8O @>D5AA8>=0;L=0O 45OB5;L=>ABL - 07@01>B0=K ;>:0;L=K5 0:BK, @53;0<5=B8@CNI85 45OB5;L=>ABL :>;;5:B820 ?> ?@>1;5<5 M:A?5@8<5=B0: >;>65=85 > 4>:C<5=B0F88 :;0AA=>3> @C:>2>48B5;O >;>65=85 > 4>:C<5=B0F88 A>F80;L=>3> ?5403>30 >;>65=85 >1 >@30=870F88 4>?;0B :;0AA=K< @C:>2>48B5;O< >;>65=85 > ?>AB0=>2:5 =0 2=CB@8H:>;L=K9 CG5B - K; AB@C:BC@8@>20= 8 ?@8254Q= 2 A8AB5<C DC=:F8>=0; @C:>2>48B5;59 H:>;K 8 2>A?8B0B5;59 2 @01>B5 A B@C4=K<8 45BL<8. - !>AB02;5= ?0:5B 4803=>AB8: 4;O 2KO2;5=8O 45280F89 8 ?@8G8= B@C4=>2>A?8BC5<>AB8 ?>4@>AB:>2, ?@>F54C@K >BA;56820=8O 8E ;8G=>AB=KE E0@0:B5@8AB8: 8 87<5=5=89 A>F80;L=>9 A8BC0F88 @0728B8O. - >4>1@0=K 8 @07@01>B0=K <5B>48G5A:85 @5:><5=40F88 ?> 2>A?8B0=8N B@C4=KE ?>4@>AB:>2 4;O ?5403>3>2 8 @>48B5;59. - !:><?;5:B>20= D>=4 A?@02>G=KE ?>A>189, ;8B5@0BC@K ?> ?@>1;5<5 A>F80;870F88 ?>4@>AB:>2, =0 >A=>25 :>B>@>3> A>AB02;5=0 :0@B>B5:0 <5B>48: 8 <5B>48G5A:8E @07@01>B>:, =0?@02;5==KE =0 ?><>IL 2 2KAB@0820=88 8=48284C0;L=>9 8 3@C??>2>9 @01>BK A 40==>9 :0B53>@859 45B59.  F5;OE =0?@02;5==>AB8 >1@07>20B5;L=>3> ?@>F5AA0 =0 CA?5H=>5 ?@>E>645=85 A>F80;870F88 2 CG51=>< ?;0=5, 70 AG5B H:>;L=>3> :><?>=5=B0 ?>O28;8AL: #@>:8 @0640=>2545=8O (5  9 :;0AA, 02B. !>:>;>2 /..) $0:C;LB0B82 >7=09 A51O (5  11 :;0AA, 02B. !5;52:> .. 8 4@.) #@>:8  (1  11 :;0AA, 02B. !<8@=>2 .". 8 4@.)  @568< @01>BK H:>;K 1K;8 22545=K, ?@>2>48<K5 :;0AA=K< @C:>2>48B5;5< 8;8 CG0I8<8AO, ?OB=04F0B8<8=CB:8: @30=870F8>==K5 (?> 2>?@>A0< CA?5205<>AB8, ?>A5I05<>AB8, ?;0=0 @01>BK 8 B.4.) "5<0B8G5A:85 (8=B5@5A=0O 8=D>@<0F8O, @0AH8@ONI0O :@C3>7>@) "@5=8=3>2K5 (?A8E>;>38G5A:85 83@K, B5ABK 8 B.?.)  ?;0= 2>A?8B0B5;L=KE <5@>?@8OB89 H:>;K 2>H;8 0:F88, AB02H85 B@048F8>==K<8: ><>38 A>1@0BLAO 2 H:>;C; >4@>AB>: 8 70:>=; 0 74>@>2K9 >1@07 687=8; @>AL A830@5BC!  B0: 65 A?5F80;L=K5 (1 @07 2 G5B25@BL) ?A8E>;>3>  ?5403>38G5A:85 B@5=8=38 4;O ?>4@>AB:>2, A>AB>OI8E =0 2=CB@8H:>;L=>< CG5B5. ;03>40@O A>459AB28N 04<8=8AB@0F88 3>@>40, 2 H:>;5 AB0; >ACI5AB2;OBL A2>N 45OB5;L=>ABL AB0@H89 H:>;L=K9 8=A?5:B>@.  53> DC=:F8>=0; 2>H;8: =D>@<8@>20=85 H:>;K > ?@02>=0@CH5=8OE ?>4@>AB:>2 8 2KO2;5=85 D0:B>2 0A>F80;L=>3> ?>2545=8O A5<L8; =48284C0;L=0O ?@>D8;0:B8G5A:0O @01>B0 A ?>4@>AB:0<8 8 A5<L59 ?> ?@54C?@5645=8N ?@02>=0@CH5=89; @02>2>5 ?@>A25I5=85, :>=AC;LB8@>20=85 45B59 8 @>48B5;59; 708<>459AB285 A 4@C38<8 AB@C:BC@=K<8 548=8F0<8, >@30=870F8O<8 ?> @5H5=8N ?@>1;5<, A2O70==KE A ?@>O2;5=8O<8 45280F89 C ?>4@>AB:>2. -  ?@>F5AA5 @01>BK 1K;0 ?@>2545=0 A5@8O @C3;KE AB>;>2 8 8=B5@0:B82=KE A5<8=0@>2 (2 B>< G8A;5 A ?@82;5G5=85< A?5F80;8AB>2 %  ), A>25I0=89, ?54A>25B>2 ?>A2OI5==KE 2KO2;5=8N ?@>1;5< 8 87CG5=8N =>2KE B5E=>;>389, A?>A>1=KE ?>2KA8BL C@>25=L ?5403>38G5A:>9 :><?5B5=B=>AB8 2 @01>B5 A B@C4=K<8 45BL<8. - ;O ?A8E>;>3>  ?5403>38G5A:>3> ?@>A25I5=8O @>48B5;59 >@30=87>20= ;5:B>@89 0H8 45B8, O2;ONI89AO A>AB02;ONI59 :><?;5:A0 <5@>?@8OB89 ?> @50;870F88 H:>;L=>9 ?@>3@0<<K !5<LO. 0B53>@8O !>F80;870F8O 45B59 3@C??K @8A:0 @>45;0==0O A ?5403>38G5A:8< :>;;5:B82>< <5B>48G5A:0O @01>B0 ?>72>;8;0 2KO28BL 2 A@545 H:>;L=8:>2 ?>4@>AB:>2, A:;>==KE : 45280F8O<, ?@>25AB8 4803=>AB8:C 8E ;8G=>AB=KE :0G5AB2, 8 2 ?>A;54AB288 >BA;56820BL 87<5=5=8O 2 8E @0728B88. - 0 >A=>25 @57C;LB0B>2 4803=>AB8: 8 A8AB5<=>3> ?>4E>40 : @01>B5 A ?>4@>AB:0<8 1K; A>740= 10=: 40==KE "@C4=K5 45B8. - ;O :>>@48=0F88 A>2<5AB=KE CA8;89, =0?@02;5==KE =0 A>F80;870F8N ?>4@>AB:>2, A:;>==KE : 45280F8O< 70:;NG5=K 4>3>2>@0 > A>2<5AB=>9 45OB5;L=>AB8 H:>;K 8 , H:>;K 8 B45;0 ?> 5;0< <>;>4568 (2 G0AB=>AB8 A;C61>9 >25@85 8 ><>< <>;>4568).  A>>B25BAB288 A 4>3>2>@0<8 >ACI5AB2;O;0AL @07=>?;0=>20O @01>B0 A ?>4@>AB:0<8. -  E>45 M:A?5@8<5=B0 1K;8 @07@01>B0=K 8 2=54@5=K A;54CNI85 ?@>3@0<<K: @>D8;0:B8:0 ?@02>=0@CH5=89 8 157=047>@=>AB8 =5A>25@H5==>;5B=8E; 4>@>2L5; 0=8:C;K; 5B8 2 70I8BC 45BAB20; 4>@>2>5 ?>:>;5=85 - 07@010BK20;8AL 8 ?@>H;8 0?@>10F8N 8=48284C0;L=K5 ?@>3@0<<K A>F80;L=>  ?5403>38G5A:>3> A>?@>2>645=8O ?>4@>AB:>2, A:;>==KE : 45280=B=><C ?>2545=8N. @>3@0<<K A>?@>2>645=8O 2:;NG8;8 2 A51O A;54CNI85 H038: KO2;5=85 ?>4@>AB:0, A:;>==>3> : 45280F8O<, 2:;NG5=85 53> 2 7>=C >A>1>3> 2=8<0=8O ?5403>3>2. >=8B>@8=3 A>F80;L=>9 A8BC0F88 @0728B8O, A 8A?>;L7>20=85< A?5F80;L=> ?>4>1@0==KE <5B>48:, A >?>@>9 =0 @57C;LB0BK >1A;54>20=8O 687=5==KE CA;>289 8 1;8609H53> >:@C65=8O (A5<L8) @515=:0. 0 >A=>25 ?>;CG5==KE 40==KE, A>AB02;5=85 8=48284C0;L=>9 ?@>3@0<<K A>?@>2>645=8O ?> =0?@02;5=8O<: - !>F80;L=>  ?A8E>;>38G5A:0O ?><>IL: :070=85 <0B5@80;L=>9 ?><>I8; 15A?5G5=85 CG51=8:0<8, 3>@OG8< ?8B0=85< 8 B.?. >=AC;LB8@>20=85 ?> A>F80;L=>  ?A8E>;>38G5A:8< ?@>1;5<0<. - 1CG5=85 =02K:0< A>F80;L=>9 :><?5B5=B=>AB8: #@>:8, G0AK >1I5=8O, 15  <8=CB:8, D0:C;LB0B82K, B@5=8=38, 0:F88 8 4@. >=AC;LB8@>20=85 ?> ?@02>2K< 2>?@>A0<. - @30=870F8O 4>AC30, 70=OB>AB8: >2;5G5=85 2 >1I5AB25==>  ?>;57=CN B@C4>2CN 45OB5;L=>ABL;  >@30=870B>@A:CN, B2>@G5A:CN, A?>@B82=CN 8 4@. 45OB5;L=>ABL; 15A?5G5=85 :0=8:C;O@=>3> >B4KE0.  @57C;LB0B5 ?@>45;0==>9 @01>BK 70 ?>A;54=55 2@5<O >B<5G5=0 ?>;>68B5;L=0O 48=0<8:0 2 A=865=88 :>;8G5AB20 45B59, A>AB>OI8E =0 2=CB@8H:>;L=>< CG5B5 8 CG5B5 2 8=A?5:F88 ?> 45;0< =5A>25@H5==>;5B=8E.  =0>1>@>B 2>7@>A;> 2 ?>;B>@0 @070 :>;8G5AB2> B@C4=KE ?>4@>AB:>2 70=8<0NI8EAO 2 :@C6:0E, A5:F8OE, D0:C;LB0B820E. 79% 45B59 40==>9 :0B53>@88 1K;8 =0?@02;5=K 2 ;035@O, CB@>5=K =0 >74>@>28B5;L=K5 ?;>I04:8 8;8 18@6C B@C40 2 ;5B=89 ?5@8>4. A5 157 8A:;NG5=8O ?>4@>AB:8, A>AB>OI85 =0 2=CB@8H:>;L=>< CG5B5, >15A?5G5=K 3>@OG8< ?8B0=85< 2 H:>;5, 8< >:070=0 2 B>9 8;8 8=>9 D>@<5 A>F80;L=>-?5403>38G5A:0O ?><>IL. -B> ?@>87>H;> 2 @57C;LB0B5 F5;5=0?@02;5==KE 459AB289 H:>;K ?> 2:;NG5=8N 2 MB>B ?@>F5AA ?0@B=Q@>2 ?> 2708<>459AB28N. >;LH8=AB2> CG0I8EAO 40==>9 3@C??K =0 A53>4=OH=89 45=L 70459AB2>20=> 2 2>A?8B0B5;L=KE <5@>?@8OB8OE, ?@>2>48<KE :0: =0 C@>2=5 :;0AA0, B0: 8 =0 C@>2=5 H:>;K (>1 MB>< A2845B5;LAB2CNB D>B><0B5@80;K 8 @57C;LB0BK <>=8B>@8=30, ?@54AB02;5==K5 2 2004 3>4C =0 2KAB02:5-D>@C<5 2 %  ). 4=0:>, 2 ?@>F5AA5 @01>BK 1K;8 >B<5G5=K B@C4=>AB8, A2O70==K5 A A>F80;870F859 ?>4@>AB:>2, A:;>==KE : 45280=B=><C ?>2545=8N 2 @0<:0E >1@07>20B5;L=>3> ?@>F5AA0 2 H:>;5. 0==K5 4803=>AB8: A2845B5;LAB2CNB, GB> B>;L:> C 25% ?>4@>AB:>2, A:;>==KE : 45280F8O<, ?@>87>H;8 :0G5AB25==K5 87<5=5=8O 8E ;8G=>AB=>3> @0728B8O (MB> 2A53> 5  6 @51OB), B.:. A:070;>AL =530B82=>5 2;8O=85 1;8609H53> >:@C65=8O ?>4@>AB:0 8 ?@>1;5<K @01>BK A :@878A=K<8 A5<LO<8. A>15==> A B5<8, 345 C65 ?@>87>H;0 <>@0;L=>-=@02AB25==0O 453@040F8O @>48B5;59. !0<>AB>OB5;L=> 2;8OBL =0 MB8E @>48B5;59 H:>;0, :0: ?@028;>, =5 2 A>AB>O=88, ?>MB><C 4;O 87<5=5=8O A8BC0F88 =C6=K :><?;5:A=K5 <5@K =0 C@>2=5 3>AC40@AB20.  2 ?5@2CN >G5@54L  87<5=5=85 70:>=>40B5;LAB20 2 >B=>H5=88 CA8;5=8O >B25BAB25==>AB8 =5@0482KE @>48B5;59 70 A>45@60=85, 2>A?8B0=85 8 >1CG5=85 A2>8E 45B59, <5@K ?> @0==5<C 2KO2;5=8N 8 ?@5A5G5=8N @07;8G=KE 284>2 =0A8;8O 8 =0@CH5=8O ?@02 45B59, >A>15==> 2 A5<L5.  2A5 65 >4=8< 87 206=59H8E @57C;LB0B>2 A2>59 45OB5;L=>AB8 ?5403>38G5A:89 :>;;5:B82 AG8B05B D0:B >A>7=0=8O 8 ?>?KB:8 ?>4B25@645=8O =0 ?@0:B8:5 2>7<>6=>AB8 A>740=8O 2 H:>;5 >A>1>3> ?5403>38G5A:>3> ?@>AB@0=AB20, A?>A>1=>3> AB0BL ?>;83>=>< A>F80;L=>3> >?KB0 4;O 2K2>40 45B59 3@C??K @8A:0 ?> ?@02>=0@CH5=8O< 87 A>F80;L=> >?0A=>9 A8BC0F88. <5AB> 70:;NG5=8O E>G5BAO >B<5B8BL, GB> @01>B0 ?> A>25@H5=AB2>20=8N, 0?@>10F88 8 2=54@5=8N 8=48284C0;L=KE ?@>3@0<< ?@>D8;0:B8:8 ?@02>=0@CH5=89 8 A>?@>2>645=8N 45B59 8 A5<59 3@C??K A>F80;L=>3> @8A:0 ?@>4>;605BAO. !>B@C4=8:8 :@052>9 ;01>@0B>@88 5B8 C;8FK 64CB 20H8E >B7K2>2 8 ?@54;>65=89 > 20@80=B0E A>B@C4=8G5AB20. 0A <>6=> =09B8 ?> B5;. 34-67-59, 34-01-16 8 M;5:B@>==>9 ?>GB5:  HYPERLINK mailto:Kibirev2@yandex.ru Kibirev2@yandex.ru. 8B5@0BC@0: ;5:A5520 .. 5B8 @8A:0. !0=:B-5B5@1C@3 2002. 09:>2 .., 0H8@8=0 .. 8 4@. 5A?@87>@=>5 8 157=047>@=>5 45BAB2> 2 @538>=0;L=>< 87<5@5=88 />?KB :><?;5:A=>3> 0=0;870/. %010@>2A: 2002. 3. 5;8G520 !.. !>2@5<5==>5 A>AB>O=85 ?@525=B82=>9 ?>;8B8:8 8 ?@0:B8:8 2 >AA88 //5AB=8: ?A8E>A>F80;L=>9 8 :>@@5:F8>==>-@5018;8B0F8>==>9 @01>BK. 1998. ! 2. A. 76-89. 4. 5;8G520 !.. A=>2K ?@525=B82=>9 ?A8E>;>388. ., 1993. 5. 5A?0;>20 .., 8=>3@04>20 .. !>F80;L=>5 ?@>5:B8@>20=85 ?>4@>AB:0. 0: 87<5=8BL >B=>H5=8O 2 H:>;5. ., 2003. 6. >A?8B0=85 B@C4=>3> @51Q=:0: 45B8 A 45280=B=K< ?>2545=85<. /#G51=>- <5B>48G5A:>5 ?>A>185. >4 @54. .. >6:>20. ., 2001. 7. 0@5F:89 .., C1@>2A:0O .. 8 4@. CB8 @5H5=8O ?@>1;5<K A8@>BAB20 2 >AA88. ., 2002. 8. >2GC: .., !525@=K9 .. !>F8C< :0: ?CA:>2>9 D0:B>@ @50;870F88 :>=AB8BCF8>=0;L=KE ?0B>;>38G5A:8E ?@54@0A?>;>65=89 : >B:;>=ONI5<CAO ?>2545=8N C 45B59 8 ?>4@>AB:>2 // !>F80;L=0O 457040?B0F8O: =0@CH5=85 ?>2545=8O C 45B59 8 ?>4@>AB:>2. ., 1996. 025@8= !.. A8E>;>38O ?>B@51=>AB59. "0<1>2, 1996. 10. 0<8=5@ .., 09>@>20 .. A8E>;>3>-?5403>38G5A:85 0A?5:BK 45280=B=>3> ?>2545=8O ?>4@>AB:>2 8 <>;>4Q68. ., 2003. 11. 818@52 .. $>@<K A>F80;870F88 ;8G=>AB8 157=047>@=>3> @51Q=:0 2 A>F80;L=>->@85=B8@>20==>< >1@07>20B5;L=>< ?@>AB@0=AB25. 0B5@80;K A5@>AA89A:>9 =0CG=>-?@0:B8G5A:>9 :>=D5@5=F88. >2>A818@A: 2003. !. 38-43. 12. 818@52 .., !5=LGC:>20 .. @30=870F8O 45OB5;L=>AB8 H:>; ?> ?@>D8;0:B8:5 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E. %010@>2A:, 2004. 13. >20;Q2 .. A8E8G5A:85 >B:;>=5=8O C ?>4@>AB:>2 ?@02>=0@CH8B5;59. ., 548F8=0 1992. 14. @KAL:> .. !>F80;L=0O ?A8E>;>38O. !;>20@L-A?@02>G=8:. 8=A:, 2001. 15. C;8:>20 .. C<0=870F8O >1@07>20=8O 8 A0<>@0728B85 ;8G=>AB8. %010@>2A:, 2001. 16. 8G:> .. A8E>?0B88 8 0:F5=BC0F88 E0@0:B5@0 C ?>4@>AB:>2. ., 1983. 17. 8@A030B>20 .. @>1;5<0 15A?@87>@=>AB8 45B59 2 >AA88: A>AB>O=8O 8 2>7<>6=>AB8 @5H5=8O. ., 2002. 18. 8B8=0 .. A8E>;>38O @0728B8O :>=:C@5=B>A?>A>1=>9 ;8G=>AB8. ., 2002. 19. C4@8: .. !>F80;L=0O ?5403>38:0  ., 1999. 20. 0H ?@>1;5<=K9 ?>4@>AB>:. #G51=>5 ?>A>185. />4 @54. .. 5CH. !-1., 1998. 21. 52A:89 .., 2G0@>20 .. 0==OO 4803=>AB8:0 8 ?@>D8;0:B8:0 ?5403>38G5A:>9 70?CI5==>AB8 45B59. C@30=, 1985. 22. @30=870F8O ?@>D8;0:B8:8 A>F80;L=>3> A8@>BAB20 45B59 8 ?>4@>AB:>2 2 CA;>28OE 8E ?>2A54=52=>9 687=8. />4 >1I. @54. ;5:A552>9 .!.: ., 2001. 23. G5@:8 > @0728B88 45B59, >AB02H8EAO 157 @>48B5;LA:>3> ?>?5G5=8O. K?CA: ! 4. (.. C1@>28=0, -..8=:>20), ., 1995. 24. >AB8=B5@=0B=0O 040?B0F8O 45B59-A8@>B /?>4. @54. (8?8F8=>9 .., 1@0<>2>9 .. !-1., 2001. A8E>;>38O. !;>20@L />4 >1I. @54. 5B@>2A:>3> ..  ., 1990. @8E>60= .., ">;ABKE .. 5B8 157 A5<L8. ., 5403>38:0, 1990. 0==OO ?@>D8;0:B8:0 45280=B=>3> ?>2545=8O 45B59 8 ?>4@>AB:>2 />4 @54. .. $><8=>9. ., 2003. 50= .. !5<L8 8 45B8 3@C??K @8A:0. //5A?@87>@=8:. 2004. !3. !. 44-47. C18=HB59= !.. A=>2K >1I59 ?A8E>;>388. !-1., 2002. !>F80;L=0O ?5403>38:0. / >4 @54. .. 8:8B8=0. ., 2002. !>F80;L=0O 70I8B0 <>;>4Q68: 2>?@>AK B5>@88 8 ?@0:B8:8. ., 1994. !5=LGC:>20 .., 0;0D5520 .. >45;L F5=B@0 A>F80;L=> ?5403>38G5A:>9 040?B0F88. %010@>2A:, 2002. "5E=>;>38O A>F80;L=>9 @01>BK. / >4 @54. .. 09=KH520. ., 2002. 07@01>B:0 @538>=0;L=>9 A8AB5<K ?@>D8;0:B8:8 7;>C?>B@51;5=8O ?A8E>0:B82=K<8 25I5AB20<8 45BL<8 8 <>;>4Q6LN. #?@02;5=85 A>F80;L=>-?5403>38G5A:>9 ?>445@6:8 8 @5018;8B0F88 45B59. ., 2002. $545@0;L=K9 70:>= $ ! 120 >B 24 8N=O 1999 3>40 1 >A=>20E A8AB5<K ?@>D8;0:B8:8 157=047>@=>AB8 8 ?@02>=0@CH5=89 =5A>25@H5==>;5B=8E &C:5@<0= .. A8E>;>38O A0<>@0728B8O. >A:20- 830, 1995. $C@<0=>2 .. 5BA:0O 03@5AA82=>ABL. A8E>4803=>AB8:0 8 :>@@5:F8O. 8=A:, 1996. 37. (0:C@>20 .. 5B>48:0 8 B5E=>;>38O @01>BK A>F80;L=>3> ?5403>30. ., 2002. 38. (C;L30 ".., ;8D5@5=:> ./. 708<>459AB285 A?5F80;8AB>2 2 @01>B5 A =51;03>?>;CG=>9 A5<LQ9. 5B>48G5A:85 @5:><5=40F88 A?5F80;8AB0<. ., 1999. 39. (C;L30 ".., ;8D5@5=:> ./. A8E>;>38G5A:85 >A=>2K @01>BK A 45BL<8 3@C??K @8A:0 2 CG@5645=8OE A>F80;L=>9 ?><>I8 8 ?>445@6:8. ., 1997. 40. -945<8;;5@ -.., .AB8F:8A . A8E>;>38O 8 ?A8E>B5@0?8O A5<L8. !-1., 2000. 41. .25=0;L=K5 B5E=>;>388. @0:B8G5A:>5 @C:>2>4AB2> ?> @50;870F88 B5@@8B>@80;L=>9 <>45;8 @5018;8B0F8>==>3> ?@>AB@0=AB20 4;O =5A>25@H5==>;5B=8E 3@C??K @8A:0. ., 2002. 42. /A<0= .!. A8E>;>38G5A:85 >A=>2K A8AB5<K ?@54C?@5645=8O ?@02>=0@CH5=89 C =5A>25@H5==>;5B=8E. ><A><>;LA:-=0-<C@5, 1996. @8;>65=85 1 =:5B0 4;O ?>4@>AB:>2 B25G0O =0 2>?@>AK 0=:5BK, 2K18@09B5 B5 20@80=BK, :>B>@K5 A>2?040NB A 20H8< ;8G=K< <=5=85<, 8 >12>48B5 8E ?>@O4:>2K5 =><5@0 8;8 70?8AK209B5 A2>9 >B25B. 0@0=55 1;03>40@8< 70 8A:@5==85 >B25BK! #:068B5: 0H5 8<O 8 D0<8;8N______________________________________________ 0: 1K K <>3;8 >E0@0:B5@87>20BL A51O. ;O MB>3> 2 :064>< ?C=:B5 2K15@8B5 >48= 87 20@80=B>2 >B25B0 8 >12548B5 53> =><5@ 2.1. !>AB>O=85 74>@>2LO 2.1.1. >;5N >G5=L G0AB>, 87-70 MB>3> =5 CA20820N CG51=K9 <0B5@80; 2.1.2. >;5N G0AB>, 87-70 MB>3> ?@>?CA:0N H:>;L=K5 70=OB8O 2.1.3. 4>@>2L5 =5 EC65 8 =5 ;CGH5, G5< C 1>;LH8=AB20 A25@AB=8:>2 2.1.4. @0:B8G5A:8 74>@>2 2.2. :B82=>ABL 2.2.1. 1I85 H:>;L=K5 8 :;0AA=K5 45;0 <5=O =5 8=B5@5ACNB, O 2 =8E =5 CG0AB2CN 2.2.2.  >1I8E 45;0E 8=>340 CG0AB2CN, => 157 >A>1>3> 65;0=8O 2.2.3. 5=O ?@82;5:0NB >B45;L=K5 <5@>?@8OB8O, 8 O 2 =8E ?@8=8<0N CG0AB85 2.2.4. '0AB> 1K20N >@30=870B>@>< 8 0:B82=K< CG0AB=8:>< :>;;5:B82=KE B2>@G5A:8E 45; #GQ10 2.3.1. 5 286C A<KA;0 2> 2A59 MB>9 CGQ15 2.3.2. 0:85-B> ?@54<5BK <=5 =@02OBAO, :0:85-B> =5B 2.3.3. #GCAL =5 EC65 4@C38E ?> <=>38< ?@54<5B0< 2.3.4. #GCAL A 8=B5@5A>< 8 65;0=85< E>@>H> 70:>=G8BL H:>;C 2.4. !5<LO 2.4.1. >48B5;8 ?LNB, =5 AG8B0NB =C6=K< @01>B0BL 2.4.2. >48B5;8 AG8B0NB, GB> 2;0ABL 8 45=L38  MB> 3;02=>5 2 687=8 2.4.3. >48B5;8 G0AB> AA>@OBAO, ?@8 MB>< 4>AB0QBAO 8 <=5 2.4.4. =>340 2>7=8:0NB ?@>1;5<K, 8 <K A>>1I0 8E @5H05< 2.5.  <>59 A5<L5 2.5.1. B=>H5=8O =0?@O65=K B0:, GB> O 3>B>2(0) C9B8 87 4><0 2.5.2. B=>H5=8O =5 A>2A5< <5=O CAB@0820NB 87-70 G0ABKE AA>@ 8 :>=D;8:B>2 2.5.3. B=>H5=8O A?>:>9=K5, => 8=>340 O GC2AB2CN A51O ;8H=8< 2.5.4. %>@>H85, 2A5 =5?;>E> 4@C3 4@C30 ?>=8<0NB 8 ?>445@6820NB 2 B@C4=CN <8=CBC 2.6. ;0=K =0 1C4CI55 2.6.1. >?@>1CN CAB@>8BLAO 2 687=8 B0:, GB>1K, =5 @01>B0O 8<5BL <=>3> 45=53 2.6.2. / >1 MB>< =5 4C<0N, ?@84QB 2@5<O 8 2AQ A0<> A>1>9 A;>68BLAO 2.6.3. >340 >:>=GC H:>;C, B>340 1C4C 4C<0BL, :C40 ?>ABC?0BL 8;8 ?>9B8 @01>B0BL 2.6.4. / C65 2K1@0; (0) ?@>D5AA8N 8 3>B>2;NAL : =59 =B5@5AK 5=O 1>;LH5 2A53> 8=B5@5ACNB 45=L38 8 :@0A820O 687=L 5=O 8=B5@5ACNB <=>3> @07=KE 25I59, => 1>;LH5 2A53> B5, GB> ?@8=>AOB ?@81K;L 8 C4>2>;LAB285 5=O 1>;LH5 8=B5@5ACNB B0:85 F5==>AB8 :0: ?@5AB86=0O ?@>D5AA8O, CA?5E 2 >1I5AB25, E>@>H> >?;0G8205<0O @01>B0 5=O 1>;LH5 8=B5@5ACNB B0:85 F5==>AB8 :0: A0<>?>7=0=85, ;8G=>AB=0O A0<>@50;870F8O, 4CE>2=0O 8 :C;LBC@=0O 687=L >1I5AB20 / 8 CG8B5;O >340 <5=O :B>-B> 2>A?8BK205B, O ?@8E>6C 2 15H5=AB2> >340 <5=O CG0B, :0: =C6=> 68BL, O 45;0N 284, GB> A;CH0N, =0 A0<>< 45;5 8E A;>20 4;O <5=O ?CAB>9 72C: / ?@8A;CH820NAL B>;L:> : B5< ;N4O<, :>B>@KE E>@>H> 7=0N 8 C2060N / 2=8<0B5;L=> 2KA;CH0N <=5=85 27@>A;KE ;N459, 4065 5A;8 O A =8< =5 A>3;0A5= >5 <=5=85 / 2A5340 1K20N ?@02, => ?>G5<C-B> =5 2A5 27@>A;K5 B0: AG8B0NB >340 <5=O 70 GB>-B> :@8B8:CNB, O A MB8< =5 A>3;0H0NAL >340 O 1K20N =5 ?@02, B> GC2AB2CN A51O 28=>20BK< / ?@8A;CH820NAL : 4@C38< ;N4O< 8 CG8BK20N 8E 70<5G0=8O B=>H5=85 : >184G8:0< . >340 <5=O >1860NB, O 2A5340 8;8 40N >B?>@, 8;8 4>;3> =5 ?@>I0N >184G8:0< 2.10.2. A;8 <5=O >184OB ?@8 <>8E 4@C7LOE, B>340 O 2<5AB5 A =8<8 ?>AG8B0NAL c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fx 6 8 ( N r t jl68NRX^46NTVX\tXZ46(*PR CJOJQJNHmH  CJOJQJOJQJ5CJOJQJCJNHCJmH 6CJ$5CJ,5CJ 5CJCJL^@$dh$$^@f * , . 0 2 4 6 8 : < > @ B D F H J L N t v x dlnt28    ^f * , . $99 $997$$$. 0 2 4 6 8 : < > @ B D F H J L N t v x $$$$$$9 $997 dlnt28:DT$-$$lF#&|$$$$d$+$$lF#&|8:<BDFHNPRXZ\^(NP"$&(.028:<BDJLNPRTVXZ\^rt<&|>$'H(@*,,,,&-P-R-.(1d35689>:<=>z@DDDDHEEZFFGIhJDOUtY*Z    ^:<BDFHNPRXZ\^(NP"$&$$$$d$$&(.028:<BDJLNPRTVXZ$$d$$+$$lF#&|$$Z\^rt<&|>$'H(@*,,,,&-P-R-.$$$-$$l[F#&|PR!!L"N"$$0%2%%%R&T&''((Z)\)))**F+H+,,,P---d.f.2/4///0022T3V3555 5X6Z60929::N;P;;;;;<<"=$===>>??n@p@FCHCCCCCEEXGZGHHJJtKvKLLQQR5CJOJQJCJNHCJ_.(1d35689>:<=>z@DDDDHEEZFFGIhJDOUtY*ZVZZZ$RR.S0SSSJTLTTTBVDVjWlW,Y.YYYV\X\]]^^0^2^8_:___\`^`RdTd f"f@gBgfhhh*j,jjjjjrltlnn:o0R$"$& V  `ZB[\^c^kqtwz|`@0LjˆH.܎N$։؉|~ BD֍؍~jl̖Ζ|~ ,.FH0268ʟ̟XZrt>@48ưȰȲʲ~5CJOJQJ5CJCJCJNH]N:@FԨ @r©r468&*ƴ$$~68ҹԹλл>@DFtv \^,.02>@PRdfz|"$ \^lnvx& 5CJOJQJCJCJNH], >0R$"$&$$ V R *,24D$S?$$ & Fd$7d$$  ^`~LNhj $&vxpr*,HJRTtvZ\tvt v     D F d f 566NH5NH5CJNHCJ CJOJQJ5CJOJQJ5CJNHOJQJRR *,24DHV      l!J"P"V"@#J#L#######''D(()*x+*,,0-/123*445@6F777¼a8qA*h    |R6           : FH <>  >@TV4Dn p       l!n!J"N"P"T"V"^""@#H######J$L$$$f%h%%%&&&&''((d*f*+6CJ jUmH6CJ(6CJ(OJQJmHjOJQJUmH6CJ$ 5CJ$NH5CJ$5CJCJCJNHLDHV      l!J"P"V"@#J#L#######'$$$$ * "( Px 4 #\'*.25@9$S?$S?''D(()*x+*,,0-/123*445@6F777;H>BEFGHK$ & F$++Z+\+++--..l/n/00004 44455556677Z8\888::::<<<<>>@@AAAACC>D@DEE(F*FFFFFrGtGzG|GHHXIZIxJzJKKLLPOROPPQQlSnS TTTTTT6V8VVVVWXW~XXYYZCJCJNHb7;H>BEFGHKMS8TUVW^[^4cfhlTnvnnnooo pxppyoe[Qv  v  v  v  ;v  Tv  ov  v   v tKo(f]r  r  r   r 7WJ4AKMS8TUVW^[^4cfhlTnvnnnooo pxpp@qqqfr & Fvdd$ & Fr$ZZ"[$[[[l\n\ ^"^^^\`^`@dBdddf&g(gHhJhjjFlHlll m"mBnDnu u4v6vtxvxyyyy*z,zzzp{r{b|d|||}}~~~~~np8:ĂƂ҈Ԉ^`xz  tv܋5CJ 56CJNHCJCJNH\p@qqqfrr,sss"tLtt{~ f02ĺ|tqnkheb_ZUPK        *   } Hvv  v  v  v  ,v  av  v  v  v  "v  Wv  frr,sss"tLtt{~ f02$$$$ & F$h$hd & Fvd܋ދ "XZf ,.TVprč\^ĎƎv“ē.0ĔƔTVln "ԙ֙~:<rt Ȟʞrt LNhjܠޠ>*CJ 6>*CJ 56CJNHCJNHCJ5CJ 5CJNHV2Lfh<~̍,ΎЎҎԎv8D ,ù}zwph`]ZWTQL  &      XYZ  [ uz   z    y   y  x   $x   9x   Lx  nw   w   w     2Lfh<~̍,ΎЎ$K$$ & Fz$ h$$$ & Fy$$ & Fx$$ & Fw$8$$lF &  w$$ЎҎԎv8D ,h$$$$$$$ & F & Fd$8$$lF &  w,ht02d>@NZJL,LNr,.<HĩĿzvqlgb]X  5  k  l              о  ,  z  ѿ              )  *  k          r  x      "t02d>@NZJL,t $$$$$8$$lF/ % e (*0Z\d.0>NZ8:ԣ֣46pr~¤ԥ֥@BLp.0vx,<Hlnبڨ68hj "< 6>*CJ 5CJNH5CJCJNHCJ\LNr,.<HĩFF~\°è$$$$$$8$$lF/ % e $ĩFF~\°FH\^xz@B|~³ijʳγҳĿzvqlg                         <  =  a  b                  G    '°FH\^xz@B|~$$$$<>FZ\ƲȲزڲ02NP,NP46PR@B~ (*>@df  >@02VXVX&(prCJNHCJ5CJ 56CJNH]³8$$[$$l4ֈF `%FGFGFG³ijʳγҳڳ   HHH$$Y$$lֈF `%FGFGFGҳڳ   !%)-.1379=?@CG|wrmhd_Z                                                          " !%)-.1379=?@XHHY$$lֈF `%FGFGFG$$@CGIKOQR]aeimopsw{}xX$Y$$lֈF `%FGFGFG$$GIKOQR]aeimopsw{}|wrmhc_Z  -.  0  2  4  8  <  @A  E  I  M  O  S  WX  \  `  b  f  j  mn  p  t  x  |            "}\LLY$$lֈF `%FGFGFG$$´ôǴɴʹѴӴմִڴ޴ !,ܷθ>~ plH |\l|F\RP@(*,.0  #  %  )]´ôǴɴʹѴӴմִڴ޴LLY$$lֈF `%FGFGFG$$ LL<Y$$lֈF `%FGFGFG$$!,ܷθ>~ $$Y$$lֈF `%FGFGFG$$plH |\l|F\R$np "^`68RT hjfh(VX@B^`B*CJNHOJQJB*CJOJQJ 5OJQJ5CJNHOJQJ5CJOJQJCJCJNHQP@(*,.04d"N* $h$ & F$$$4d"N* r  V48p62r{tohaZU                                                                 prJL@BHJ   R T b d $&~*,z|    0!2!##D$F$h$j$&&4)6)T*V*v+x+,,6,8,,,j-l---////:0B*CJOJQJB*CJNHOJQJ^ r  V48p62r& !! $ & F* h* $ & F* h* $ & F* h* $ & F* h* $ & F* h*$ & Fr& !!`""B#~$$%%8&>)P, /3p::<=?D8IKMQSVYZ]Jbdg@lqbw>{ΈlrtBDĒړ>p\Ľ2{  k{  {   { .X                             2!`""B#~$$%%8&>)P, /3p::<=?D8IKMQSVYZ$$ $ & F* h*$ & F $ & F* h*:0<0Z1\1113333446677`8b88888d:f:::<<$<&<<<N=P===x>z>? ?????,@.@@@CCDDDDpErEFFFFHHI IIIKK MM~MMNN:Onbnvnxno oppqqqqrrfshsssuuVwXwyyzzzz>{T{}}~~΀Ѐ6B*CJOJQJ56B*CJOJQJB*CJOJQJB*CJNHOJQJUZ]Jbdg@lqbw>{ΈlrtBDĒړ>p\җ$ & F{$$d$$d$$Ѐȃʃpr@BЈRTމjl*,tBDȐʐĒƓȓ^`@Bԙ֙DFқԛҝԝ&¿CJNHCJ6CJ5CJNH CJOJQJ5CJOJQJ 5OJQJ56B*CJOJQJB*CJNHOJQJB*CJOJQJI\җšR؜< ~СlJ ԫBүXp<}umeb_Y y H]~  v~  ~  ~   ~ ZJ       G ,}  g}   } N|  |   | Y` җšR؜< ~СlJ ԫBүX$ & F~$ & F$ & F}$h$ & F|$$&(xzBD@Bڨܨdf fhLNjl46JL (*BD>@H JLlnz|Z\"$02HJ6CJCJCJNH`Xp<nV̶(H:~H$h$ & Fd$ & F $ & F $ & F$ & F$$ & F~<nV̶(H:~H8:Rºwtqnkhe_\YV2 fG ]:F   PF Q]^ o  [       & T   +   [  yd     8:RZ*$ & FG$$ & FF h8$$$68jlZ\np "RT&NP02Z\Vpr&ŽNHB*CJOJQJ5B*CJOJQJ5CJ5CJOJQJ0JjCJUmH CJmH jCJUmH CJCJNHHZ*&RVT&> }sid_\YVS1*LI  'I  I  hI  I  I  RI  I  I  I  qI   I   Wc'Y WR&RVT&>  $ & FI  & FId & FId & Fd$dbd(TpDjTp:fxz X~V      ~   " .  4(*:jl| ^` 5CJNH 5CJ NH5CJ 5CJ 56CJ6CJ556CJNHCJNH5>*Q(Tp`Dj~T & F9 & F8  & F8dd$$$(Tp`Dj~TpX:ftZ v}zsj5  5 IBUK{ 9 1z2t 8   8 'TpX:ftZ v. X & Fd & F & F6 & F5 & F5v. X|V    N ~   ( ú{rkhaXOH?<   < ;  ;   U;  :   G   Ky   }       I       +  ;6 5   #5   `5   |V    N ~   (  .   24 & F< & F< & F; & F; & F: & F & F(  .   24D8:<h|÷~{xurmhc^YUPKF  ξ  ؾ  پھ          .]^k<   P<   j<    <  H<  q<   N<   ~<   <  #<  i<  <  4D8:<h|X4$$l4 t0 %``$$$$ & F<  ,8@HT`b "$&(*,.hjlnprtvx|wrmhc^Y                  #$  %  &  '  (  )  *  +  ,                        ¾  þľ"  ,8@HT`@~=$$l4 tF % 0 0 $$?$$l4 tF % 0 0 `b "$&(*,}xxxxxxxx$$$$$l4 t "%          ,.hjlnprtvxz~yyyyyyyy\~yy$$$}$$l t "%        xz  \^`bdfhjln{vqlhc^Y  ]  ^                                                        "  |y$}$$l t "%        $$\^`bdfhjln|y|y$}$$l t "%        $$&(*,.|y$}$$l t "%        $$&(*,.02468fhjlnprtvx  dfĿ     !  "  #  $  %  &  '  UV  W  X  Y  Z  [  \C.02468fhjlnprtv|y$}$$l t "%        $$vx ~yyyyyyyy~yy$$$}$$l t "%        RTd\FHRT^`(  !!:!""#$$$(%*%x%z%%%%% &&:&<&R&T&&&''.'0'P'R'x'z'''''''(CJNH5 5CJNH5CJCJ 6CJNH6CJ 56CJ 5CJNH5CJCJCJNHP df|}$$l t "%        $$ 0@?$$l4 tF % 0 0 $$4$$l4 t0 %`` ¨$$=$$l4 tF % 0 0  JLNPRTVXZ\68:<>@BDFHz|~ "$&(*lnprtvxz|~  \` cJLNPRTVXZ}xxxxxxxx$$$$$l4 t "%          Z\68:~yyyyyyyy$~yy$$$}$$l t "%        :<>@BDFHz|~|y$}$$l t "%        $$|ly|y$}$$l t "%        $$ "$&(*lnprt|y$}$$l t "%        $$tvxz|~|py$}$$l t "%        $$  \`~yyyyyyyyyyy$$$}$$l t "%        `0@?$$l4 tF % 0 0 4$$l4 t0 %``$$ ^`bdfhjlnp "$z|~ "$&(<rx!z!!!!!! _¨$$=$$l4 tF % 0 0 ^`bdfhjln}xxxxxxxx$$$$$l4 t "%          npp~yyyyyyyy~yy$$$}$$l t "%        |py$}$$l t "%        $$ "$z|~|y|4y$}$$l t "%        $$ "$&(|ywww$}$$l t "%        $$ <rx!z!!!!!!!!<">"@"""#$$$$$$!!!<">"@"""######$ $H$`$$$$$$%6%N%^%`%%%$&f&&&&''8'^'`'''n(( )")|))*h***:+++l,,,H--@..P/R//001~111111F224333.44                  P######$ $H$`$$$$$tR$$l4rf&% $$$1$$l40%` $$%6%N%^%`%%%$&f&&&&''8'^'`'''PN$$lrf&%$((0(2(f(h((((((())N)P)b)d)r)t)* *****+ +++(+*+R+T+++++++,,,,.,F,H,^,`,,,--0-2-<->-`-b-z-|---4.6.Z.\.t.v.......// /"/D/F///////////006080R0T0000CJCJNHb'n(( )")|))*h***:+++l,,,H--@..DPN$$lrf&%$.P/R//001~111111F224333.44$5`DN$$lrf&%$000001n1p11111222242>2@2`2b2222233(3*3d3f3333333333344$4&444444455T5V5555555666666b7d77777h8j8~8888888899<9>9X9Z9999999::D:F::CJCJNHb4$55*6,6V666l77788"99R:T::l;<<=== ="=>>>>>>>>>>>>>>>>>>>>>>????? ? ??????&?*?.?2?6?:?>?B?F?J?N?R?V?Z?`?b?d?@A\A^A`AbAPBRBTBVBXBZBtBvBBB  \$55*6,6V666l77788"99R:T::l;<<<$N$$lrf&%$: ;";Z;\;l;;;;;;;4<6<P<R<<<<<<<== ===F>H>>>>>>??d?@@\AbAAABBRBZBtBvBBBC"D$DHD|DDEE0F>FFFvGxGPIRI\I^IIIMMVNN^OOPnPPQR R|R(S656>*CJOJQJ5CJ 56CJCJNHCJCJNHCJNHT<=== ="=>>>>>>>>>>>>>$$$N$$lrf&%$>>>>>>>:\$$l tNS: !  }dK 3#%osttstttsttsttt$$>>>>????? ? ?????$$??&?*?.?2?6??:::::$$$$l tNS: !  }dK 3#%osttstttsttsttt6?:?>?B?F?J?N?R?V?Z?`?$$ `?b?d?@A\A^A?::::7$d$$l tNS: !  }dK 3#%osttstttsttsttt^A`AbAPBRBTBVBXBZBtBvBBBCHDJD|D0FRGGHHIIIIJ\K & F<$$BCHDJD|D0FRGGHHIIIIJ\KK~LLMMMM8NVNNNO@O^OOPnPP6QQQR R|RR(SzSú{xspm}  l    f  f   Af VWy<  zL#*\KK~LLMMMM8NVNNNO@O^OOPnPP6QQQR R|RR(Sd$ & Fd & F$ & Ff(SzSS&T(TTT:UU$VVVHWWWpXYpYrYYYZbZZZN[P[ & Fd & F[ & F 9r d(SzS(TTTrYYZN[P[[[[\\.^0^^__L`v`x```a aBaDa|a~aaabb bbLbNbbbbbbb(c*cHcJcccccddd d`dbddddddd.e0eXeZeeeeeeefff|f~fffff.g0gngpggNH 56NH56CJNH 56CJ6CJCJYzSS&T(TTT:UU$VVVHWWWpXYpYrYYYZbZZZN[P[[[@\\b]]^^L`N`}zwtqgbS  7Y        @  a  {   [   b{8}#P[[[@\\b]]^^L`N`Z`\`v`x`````:$$l4F$1!$d$d$d & Fd & FN`Z`\`v`x`````````````aaa aa.a2a6a:a>aBaDaNaaaaaaaĽ}voha]]][]]]]]]]                          !  #  %  '  8  =>  K  L  R#`````````aaa aa.a2a6atd$d$$l֞tT!$1$d$6a:a>aBaDaNaaaaaaaaa8bfHfffffffffgg"g&g*g.g0g:ggggggggg"h c@bDbHbLbNbXbbbbbbbbb4c8cfHfffffffffgg"gd$d$$l֞tT!$1$d$"g&g*g.g0g:ggggggggg"h&h*hd$d$$l֞tT!$1$d$gggg6h8hthvh|h~hhhhh i"iHiJili6j8jpjllllmm.m0mFmHmfmhm~mmmmmmmmm n(nTn^nnnnnoop,p.pppqqrr rrrrtt|xy zz}}PPR CJNHCJ 5OJQJ5CJ56 6CJNH6CJCJNH5CJ5NH5CJNHP"h&h*h.h2h6h8hBhhhhhhhhhhhhhhhhh4i8i@LޯhjlnxLN 8JLZκBD*LNX ""Zz|:<Dpr .0XZ 56CJCJNH6NH6]D 8x~ ^ $ & F? $ & F?$$$ & Fdddnp(*"$>@RT np^46TVprd\^tvFNPJx:<Z\xzV>*CJCJNH 5CJNH5CJCJ\dFJxHTV| $ & F?$ $ & F?FJxHTV|R   :<rtZ\ż@        ?   e?   ?  ?  ?   k?   ?   ?   k ?  ?   ?  ?   ?  4V|tv@B\^24RfhFH :<r$&LN"$&(TVLN  h j  h j   , .          hjNH 56CJCJNHCJ5CJ\R   :<r$$$ $ & F? $ & F?tZ\t$$8$$lF>9!4&>$$d$ $ & F@ $ & FtF R V X z          r ~   dptv2>BD&*,r~ BD,8<>NZ^`~nz~BDFH~r~ @   @    XF R V X z          hd$ $ & F@d$8$$lF>9!4&>$$$$ r ~   dptv2>BD&*,r~$8$$lF>9!5&>$$$$ BD,8<>NZ^`~nD``8$$lF>9!5&$$$$ $ & F@$8:*,Z\(*"$VX\^\^  """""v#x#&%(%%%&&"'$'((j*l*B+D+++|,~,,,--(.*.//H/J///V0X02141 2 222\4^4,5.55555`6b66667877777r8t89NH 56CJCJCJNH^nz~BDFH~r~,$$ d$$$8$$lF>9!5&$$~*6:<>"$|%~%%))")$)p/|///33337888====t@v@@AAAABBBB>CJCNCPCDDDD8EDEHEJELElFFHIIIIIII"$x$ & F d$$$$8$$lF>9!5&$$$|%~%%))")$)p/|///33337888 (  8$$lF9!%7nn$$$$$$$ & F 99::::::;;<<<<(>*>>>F?H?`@b@2A4AAAZB\B\F^FGGpGrGKKLL~MMNNNNLONOOOPPFQHQRRRRSSTTTUU4W6WpXrXXX,Y.YZZ[[\\R]T](^*^^^d_f___``aaccdd0e 56CJCJCJNH`8====t@v@@AAAABBBB>CJCNCPCD$$$$8$$lF9!%7nn$$$$DDDD8EDEHEJELElFFHIII(~y~$$8$$lF9!%7nn$$:$$l9F9!%7nn$$IIIII %nn$$$$:$$lF> %nnB^N^R^T^``aaXdddhdjdffff&i2i6i8ij$$$$$8$$lF> %nn$$0e2eeeffjflfgg,h.hjjhjjjkk|k~kkkllllnnnnpprrhsjsss,v.vvvRwTwwwxx.y0y6y8yz z{{}}2~4~~~~VXtv ~ԏ֏5CJCJCJNH`jjjjlll llJmoooor*r.r0rJuVuZu4X$$$$8$$lF> %nn$$.r0rJuVuZu\ulwxw|w~wwxx x x~yyzLz{{{{R}^}b}d}(,. " np .:>@<HLN\ȎʎĐƐ                   UZu\ulwxw|w~wwxx x x~yyzLzD~~~{{$$8$$lF> %nn$$$$:$$l F> %nnLz{{{{R}^}b}d}(,. " $$8$$lF> %nn$$$$np .:>@<HLNp(8$$lF> %nn$$$$$$$\$ & F $$$8$$lF> %nn$$$$ȎʎĐƐ 8DHJ<HLNt8$$lF $7$$$$$$$ & F npڒܒ8:rtJLRT(*jlؠڠ^``bhjtvLNHJ.2 vxު02xz>@tvPR$&CJCJNHb 8DHJ<HLN 0<@Bȡԡءڡܡfrvxp|<HLNBNRT(,.02īЫԫ֫®ƮȮ°ΰҰ԰*,.02 i  i  _N 0<@B$$$8$$lF $7$$$$ȡԡءڡܡƴ~~~~$8$$lF $7$$$$8$$lF $7 frvxp|<HLNBNRT(,. 8$$lF $7$$$$$ & Fi.02īЫԫ֫®ƮȮ°o8$$lF $7:$$l,F $7$$$$$ & Fi7 n$ °ΰҰ԰*,.0246$$$$8$$lF $7$$46*,l¸<>^rĹƹԹ "8:TVbxz|ƺȺ68:RTVnpr̻λ024nxܾ6CJNHCJNH5CJ5CJCJCJCJNHW2468:<l¸ĸԸ <>@BD^prtvx|йҹԹܹ "*.02468:<bjnprtvxz|  b68:<l¸ĸԸ <$$$$ &d $<>@BD^prtvhT,R$$lo4rj p# j   ` d$$$$G$$lM4\j p#`j `` vx|@h$$l4֞j &yp# j  ' $$$йҹԹܹ$$$s$$l,4ִj &y p# j  '   4$$$s$$lT4ִj &y p#`j '   4$$$s$$lh4ִj &y p# j '    "*.02468:<bjnp4$$$s$$lT4ִj &y p# j '  prtvxz|4$s$$lT4ִj &y p#`j '  $$ ºĺƺȺʺ &,.02468:BHJLNPRTV^dfhjlnpr»ĻƻȻʻ̻λлػ޻  b4$$$s$$lT4ִj &y p# j '   ºĺƺ4$$$s$$l|4ִj &y p# j '   ƺȺʺl$$$s$$l4ִj &y p# j '    <$$$s$$l4ִj &y p#`j '   &,.02468:BHJL88$$$s$$l4ִj &y p# j '  LNPRTV^dfhjlnpr8$s$$l4ִj &y p# j '  $$r»ĻƻȻ8s$$l4ִj &y p#`j '  $$$Ȼʻ̻λлػ޻88s$$l4ִj &y p# j '  $$ $&(*,.024nfxzܾ޾8XZj^hjlnp4  ? $&(*,.0X$$s$$l4ִj &y p# j '  $$024nfxzܾ{yd & F4d$h$$l4֞j &y p#j j '  ܾ޾8XZj^&`#$$$*,.68DFJLNRT`bdhj*,>@RxzBDpCJ CJ OJQJ5NH NHOJQJOJQJ CJOJQJ0JmH0J j0JU1.0246NPRdfhjlnprtvxz|~$ &`h#$&`#$h&`#$*,>@RTnBDprtv$dd$$vxz|~$d* 00P. A!"S#n$%S1 00&P 0PA .!"S#$n%S. 00&P P$. A!"S#n$%S. 00&P P3. A!"S#n$%SDyK Kibirev2@yandex.ruyK 4mailto:Kibirev2@yandex.ru! [2@2 1KG=K9_HmHsHtHP@P 03>;>2>: 1$$$rdh@&^`ra$CJB@B 03>;>2>: 2$$@&a$ CJOJQJD@D 03>;>2>: 3$$@&a$5CJtHu@@@ 03>;>2>: 4$$dh@&a$CJ>@> 03>;>2>: 5$dh@&5CJ4@4 03>;>2>: 6$@&CJ:: 03>;>2>: 7$$@&a$CJ >> 03>;>2>: 8$$@&a$5CJ : : 03>;>2>: 9 $$@&a$CJ:A@: A=>2=>9 H@8DB 0170F0H>@H 0720=85$9dh]9`a$5CJfC@f A=>2=>9 B5:AB A >BABC?><$97dh]9`7a$CJbR@b A=>2=>9 B5:AB A >BABC?>< 2$7dh`7a$CJbS@"b A=>2=>9 B5:AB A >BABC?>< 3$dh^a$CJHT2H &8B0B0&$9dh]9^`a$CJrOBr !B0=40@B=K9 HTML7 2( Px 4 #\'*.25@9OJQJ@B@R@ A=>2=>9 B5:AB$dha$CJ@Ob@ bodytextXK^XB*CJOJQJ>P@r> A=>2=>9 B5:AB 2dhCJ2O2 1KG=K9 (Web)CJ<Q@< A=>2=>9 B5:AB 3xCJB @B 86=89 :>;>=B8BC;  9r ,,  "5:AB A=>A:8D@D 5@E=89 :>;>=B8BC;  9r ,)@, ><5@ AB@0=8FKBJ@B >4703>;>2>:$a$5CJOJQJ,U@, 8?5@AAK;:0>*B*HV@H@>A<>B@5==0O 38?5@AAK;:0>*B*  5^hr     *+`)      !"#$%&' 5^hr     *+.      !"#$%&'()~e`,_))4777:R +Z܋<:0VЀ&(0:(Sg ЮV90ecmortwy|  "*1H. :&Z.ZND'Kfr2Ў°³ @} !ZҗXT4`,.vZ:t`n#$'.$5<>>?6?`?^A\K(SP[`6a@b?@ABCEFGIJK8*Z7p2,ĩҳGr\<v( x!4BzSN`a"hoȀH~L.r2eipx} $+2;D28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28GKC:\WINME\ 01>G89 AB>;\ _?>A>1852\ _5B>48G5A:>5 ?>A>185 - 4.doc818@52 =4@59 ;5:A0=4@>28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28GKC:\WINME\ 01>G89 AB>;\ _?>A>1852\ _5B>48G5A:>5 ?>A>185 - 4.doc818@52 =4@59 ;5:A0=4@>28G<C:\WINME\TEMP\2B>:>?8O  _5B>48G5A:>5 ?>A>185 - 4.asd818@52 =4@59 ;5:A0=4@>28GKC:\WINME\ 01>G89 AB>;\ _?>A>1852\ _5B>48G5A:>5 ?>A>185 - 4.doc818@52 =4@59 ;5:A0=4@>28GiC:\WINME\ 01>G89 AB>;\@01>G0O\AB0BL8\?!/ - 2005\ _?>A>1852\ _5B>48G5A:>5 ?>A>185 - 4.docI&]  l@جjwTmj#2Z{ Jb T~ q-   "z t;`h"R(E,_@9 H3 ȗnPC tj K !~!LILJ#?R#mW#> #~;$! $2Ec$J~ |$"$an%h'ܶ'(LiL)*n7P*6m* I08+D 8L+T+)ef-],xO-6c.8/= ).T>kaxJ. 0/Hi/2sL0w3!r5$ {Y~5ln y66rz 77GA8IG9u;1<8+X)>jsa?FԈs@p >2@&ڿ(#A WkAT f,Bp[*PhB\}BC6T(hC4 9AdE;SE2S\]hF^F4GĤf(ƅ_fAWLgVDXmgvkU i 5i\j(t5jL*U+tk# NB$m# n<nGo?Veo!,wq{q&DB"q `@rPN/@r+lGu`vMv{v$v1wrwZwbx.#/!y (~yȩp`zBZ)[z{1~}b~bnb~ww^w`o() hh^h`OJQJo(hh^h`o(- hh^h`OJQJo(hh^h`.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(l^`lo(.l^`lo(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(......... hh^h`OJQJo( hh^h`OJQJo(hh^h`)^`o(- ^`OJQJo(o pp^p`OJQJo( @ @ ^@ `OJQJo( ^`OJQJo(o ^`OJQJo( ^`OJQJo( ^`OJQJo(o PP^P`OJQJo(hh^h`.hh^h`o(.hh^h`o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........hh^h`.505^5`0o(..0^`0o(...gg^g`o(....   ^ `o( .....  ` ^ ``o( ...... ff^f`o(....... ^`o(........ ^`o(.........hh^h`.{^`{o(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(......... \ ^ `\o(.0^`0o(.@ 0@ ^@ `0o(..,,^,`o(... `^``o( .... ^`o( ..... ^`o( ...... t"t"^t"`o(....... `'(`'^`'`(o(........t\t^t`\o(.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo( hh^h`OJQJo(h ^`hH.h ^`hH.h pLp^p`LhH.h @ @ ^@ `hH.h ^`hH.h L^`LhH.h ^`hH.h ^`hH.h PLP^P`LhH.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH ^` o( ^` o(.0^`0o(..0^`0o(... 88^8`o( .... 88^8`o( ..... `^``o( ...... `^``o(....... ^`o(........ hh^h`OJQJo(hh^h`.P8^`P..^`...x ^`x....  ^` .....  Xx^ `X ......  ^ `....... 8^`8........ `^``......... hh^h`OJQJo(^`o(.h^`OJQJo(hH pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.hh^h`5.0o(..0o(...88o(.... 88o( ..... `o( ...... o(....... o(........ ppo(.........h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHh ^`hH.h ^`hH.h L^`LhH.h   ^ `hH.h [[^[`hH.h +L+^+`LhH.h ^`hH.h ^`hH.h L^`LhH. hh^h`OJQJo(hh^h`.P8^`P..^`...x ^`x....  ^` .....  Xx^ `X ......  ^ `....... 8^`8........ `^``.........h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo( hh^h`OJQJo(^`o(.^`. L ^ `L.  ^ `.PP^P`. L ^ `L.^`.^`.L^`L.k^`k5CJaJo(. ^`CJ$o(pLp^p`L.@ @ ^@ `.^`.L^`L.^`.^`.PLP^P`L.hh^h`.h88^8`OJQJo(hHh^`OJQJ^Jo(hHoh  ^ `OJQJo(hHh  ^ `OJQJo(hHhxx^x`OJQJ^Jo(hHohHH^H`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hH ^` o( ^` o(.0^`0o(..0^`0o(... 88^8`o( .... 88^8`o( ..... `^``o( ...... `^``o(....... ^`o(........hh^h`.P8^`P..^`...x ^`x....  ^` .....  Xx^ `X ......  ^ `....... 8^`8........ `^``......... hh^h`OJQJo(hh^h`o(.hh^h`o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........^`o(.808^8`0o(..0^`0o(...pp^p`o(....   ^ `o( .....  ` ^ ``o( ...... xx^x`o(....... ^`o(........ ^`o(.........' hh^h`OJQJo(DD^D`OJPJQJ^Jo(- ^`OJQJo(o pp^p`OJQJo( @ @ ^@ `OJQJo( ^`OJQJo(o ^`OJQJo( ^`OJQJo( ^`OJQJo(o PP^P`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(^`o(.808^8`0o(..808^8`0o(...^`o(.... ^`o( ..... `^``o( ...... pp^p`o(....... pp^p`o(........   ^ `o(.........hh^h`o(.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(hh^h`o(. ^`hH. pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.^`o(.h^`OJQJo(hH pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`.  ^ `o(.   ^ `o(..  ^ `o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH9>9^9`>5CJaJo(. ^`CJaJo(h3 3 ^3 `.O O ^O `.^`.L^`L.^`.^`._L_^_`L. hh^h`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`o(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........>^`>o(. ^` o(. ^` o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(......... hh^h`OJQJo( ^` o(. ^` o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........^`CJOJQJo(^`CJOJQJo(opp^p`CJOJQJo(@ @ ^@ `CJOJQJo(^`CJOJQJo(^`CJOJQJo(^`CJOJQJo(^`CJOJQJo(PP^P`CJOJQJo( hh^h`OJQJo(h55^5`OJQJo(hHh^`OJQJ^Jo(hHoh  ^ `OJQJo(hHh  ^ `OJQJo(hHhuu^u`OJQJ^Jo(hHohEE^E`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hH  ^ `o(.   ^ `o(..  ^ `o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(......... ^` o(. ^` o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........h^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh  ^ `OJQJo(hHhQQ^Q`OJQJ^Jo(hHoh!!^!`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHw9>9^9`>5CJaJo(.w^`.wpLp^p`L.w@ @ ^@ `.w^`.wL^`L.w^`.w^`.wPLP^P`L.h88^8`OJQJo(hHh^`OJQJ^Jo(hHoh  ^ `OJQJo(hHh  ^ `OJQJo(hHhxx^x`OJQJ^Jo(hHohHH^H`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh ^`hH.h ^`hH.h pLp^p`LhH.h @ @ ^@ `hH.h ^`hH.h L^`LhH.h ^`hH.h ^`hH.h PLP^P`LhH.  ^ `o(.   ^ `o(..  ^ `o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........^`o(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........hh^h`o(.h ^`hH.h L^`LhH.h   ^ `hH.h ``^``hH.h 0L0^0`LhH.h ^`hH.h ^`hH.h L^`LhH.hh^h`o(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........^`o(. hh^h`OJQJo(h^`OJQJo(hHvh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`o() hh^h`OJQJo(hh^h`o(TT^T`o(. 0 ^ `0o(..^`o(... ^`o( .... <`<^<``o( ..... (#`(#^(#``o( ...... |)|)^|)`o(....... //^/`o(........hh^h`.P8^`P..^`...x ^`x....  ^` .....  Xx^ `X ......  ^ `....... 8^`8........ `^``.........XX^X`o(XX^X`o(.0^`0o(..0^`0o(... 88^8`o( .... 88^8`o( ..... `^``o( ...... `^``o(....... ^`o(........ hh^h`OJQJo( hh^h`OJQJo( hh^h`OJQJo( WW^W`OJQJo(hh^h`)^`o() ^`hH. pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.X^`Xo(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........  ^ `o(.   ^ `o(..  ^ `o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........hh^h`o(.0o(..0o(...88o(.... 88o( ..... `o( ...... o(....... o(........ ppo(.........HH^H`o() ^`hH. pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH. hh^h`OJQJo(hh^h`.88^8`OJPJQJ^Jo(- ^`OJQJo(o   ^ `OJQJo(   ^ `OJQJo( xx^x`OJQJo(o HH^H`OJQJo( ^`OJQJo( ^`OJQJo(o ^`OJQJo(hh^h`o(.DD^D`OJPJQJ^Jo(- ^`OJQJo(o ^`OJQJo( ^`OJQJo( ^`OJQJo(o T T ^T `OJQJo( $#$#^$#`OJQJo( %%^%`OJQJo(o ((^(`OJQJo(hh^h`o(.0o(..0o(...88o(.... 88o( ..... `o( ...... o(....... o(........ ppo(......... hh^h`OJQJo( hh^h`OJQJo(vv^v`o(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........w9>9^9`>5CJaJo(.w^`.wpLp^p`L.w@ @ ^@ `.w^`.wL^`L.w^`.w^`.wPLP^P`L.hh^h`o(.h ^`hH.h L^`LhH.h   ^ `hH.h ``^``hH.h 0L0^0`LhH.h ^`hH.h ^`hH.h L^`LhH.^`o(.^`. L ^ `L.  ^ `.PP^P`. L ^ `L.^`.^`.L^`L.hh^h`.hh^h`.^`o(-^`o(.^`. L ^ `L.  ^ `.PP^P`. L ^ `L.^`.^`.L^`L.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHh ^`hH.h ^`hH.h pLp^p`LhH.h @ @ ^@ `hH.h ^`hH.h L^`LhH.h ^`hH.h ^`hH.h PLP^P`LhH.88^8`o(.hh^h`o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........88o(- hh^h`OJQJo(hh^h`o(.^`o(  ^`OJQJo(o \\^\`OJQJo( , , ^, `OJQJo(   ^ `OJQJo(o ^`OJQJo( ^`OJQJo( ll^l`OJQJo(o <<^<`OJQJo(808^8`0o(.^`o(.pLp^p`L.@ @ ^@ `.^`.L^`L.^`.^`.PLP^P`L. hh^h`OJQJo(N^`No( N^`No(.0^`0o(..88^8`o(... 88^8`o( .... `^``o( ..... `^``o( ...... ^`o(....... pp^p`o(........ ^`o(.^`. L ^ `L.  ^ `.PP^P`. L ^ `L.^`.^`.L^`L.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHh ^`hH.h ^`hH.h L^`LhH.h   ^ `hH.h ``^``hH.h 0L0^0`LhH.h ^`hH.h ^`hH.h L^`LhH.hh^h`o(.h ^`hH.h L^`LhH.h   ^ `hH.h ``^``hH.h 0L0^0`LhH.h ^`hH.h ^`hH.h L^`LhH.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH  ^ `o(.  ^ `o(..  ^ `o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........X^`Xo(.0^`0o(..0^`0o(...88^8`o(.... 88^8`o( ..... `^``o( ...... ^`o(....... ^`o(........ pp^p`o(.........hh^h`o(-h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`o(-hh^h`.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`o(.hh^h`o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........hh^h`.hh^h`o(. hh^h`OJQJo(hh^h`o()hh^h`. hh^h`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH hh^h`OJQJo(h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH ^`OJQJo( hh^h`OJQJo( hh^h`OJQJo(hh^h`.hh^h`.h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH ^` o(. ^` o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(......... hh^h`OJQJo( hh^h`OJQJo(hh^h`o(.808^8`0o(..0^`0o(...pp^p`o(....   ^ `o( .....  ` ^ ``o( ...... xx^x`o(....... ^`o(........ ^`o(.........hh^h`o(-hh^h`o(hh^h`o(.0^`0o(..0^`0o(... 88^8`o( .... 88^8`o( ..... `^``o( ...... `^``o(....... ^`o(........hh^h`o(.hh^h`o(.0^`0o(..0^`0o(... 88^8`o( .... 88^8`o( ..... `^``o( ...... `^``o(....... ^`o(........h^`OJQJo(hHh^`OJQJ^Jo(hHohpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hHhh^h`o(.hh^h`o(..0^`0o(...0^`0o(.... 88^8`o( ..... 88^8`o( ...... `^``o(....... `^``o(........ ^`o(.........h ^`hH.0^`0o(..0^`0o(...^`o(.... P`P^P``o( ..... P`P^P``o( ...... ^`o(.......   ^ `o(........   ^ `o(.........0^`0.kU ief-n_RsJ'/!y/@r'3 RYCm*%U9X g7c(#APC 8+X<l P*i]5j)L\jsa? ~{=rQx}Xv$Q T~ W #Y~5s@`WZw]d#y6I08+Z{ qC`MG}BC"z \bWkA"4>`z;SE 7bxc.2@an%~4?cTW\ZmW#{v$!,wqL0~~YaxJ.1w1<q- NB$m5i?VeoMvG9*Ec$m(~y1~}"qfc=VRRN 2.&LGo]hF BN4PxO-WLgD)dPhBaW 8L+lGuWPu;K;H~!!r56T+>;1{qG4[)[z{$v 0/= ).E,BkOdH3 i/~f! $`@r1Sclg?R#@_^FI}a"$?<jLTdo`L)%Q6X# nWO f,Bw3OATrwGA8wR@.I9AdE<n]LJ#`vlT_@Y!!!!!!:![!\!_`PPPh@PPlPPP8PxPPPG:Times New Roman5Symbol3& :Arial?5 :Courier New7& Verdana;Wingdings"qe&jW+]'j#20df)o2545=85818@52 =4@59 ;5:A0=4@>28G818@52 =4@59 ;5:A0=4@>28GZOh+'0 $0 L X d p|  MiNormal  Mi6Microsoft Word 8.0@@`Tn@xQ@P=WZ՜.+,D՜.+,< hp   +fj   ((RZ _PID_GUID _PID_HLINKSAN{E38D6111-6220-49B6-AD3A-FB16EA9A9B90}AlA mailto:Kibirev2@yandex.ru  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLNOPQRSTVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~    $Root Entry F ZDd+r=&Data M1TableU1hWordDocumentSummaryInformation( DocumentSummaryInformation8CompObjjObjectPool+r=+r=  F Microsoft Word MSWordDocWord.Document.89q