w_U_201703

34567 6>5;
& ˙) ˛˚)
565;˙

˝˚B
%)
* a1,1`1 dYmZSS ab*`1yjSZ* a 31Z\y ]`\]\O
,1/dpb , ,\aV`1a1Zn1 ]\aW1 ,ab`1hS a\+`*ZSqD
'b\ f\`\j11 ,`1Yq /Wq b\-\E hb\+m \bmaV*bn
SaV`1ZZSf Wp/1yD * e\b\-`*eSS /,1 a\a1/VS
`*ah1am,*pb \,1hnp j1`abnD
˛˚#˚
8> 9;9
˛˚)
69 :67
6>59˙˚˚˚
;< 7>>
˙˚˝˚
7 )
) \+`1W Yd/`\abnE f\/q a Yd/`mYS
<
5P; )
\4/*,*yb1 h1abn b1YE Vb\ 11 /\ab\SZ
`SabS*Z*Y ,*3Z\ SY1bn ]`*,SWnZmy ,4-Wq/
Z* b\E V*V \V*4m,*bn /`d-SY h1abn S d,*31ZS1D
b\ ob\-\ 4*aWd3S,*1b S ]\h1YdH b,1b /*1baq
, ob\y ab*bn1D Z1y b*V31 ]\/h1`VS,*1baqE V*Vdp
]\Wn4d ]`SZ\aSb b\E hb\ Ym ,\4/*1Y h1abn b1YE
Vb\ 11 /\ab\SZD
57

)
1h*b*p Z* Y*jSZV1 b1Vab `1hS
Lb*b1ZOyW1Z/E npO•\`VD 5=99M
) \+`1W Yd/`\abnE
f\/q a Yd/`mYS
˛ &) '('
' db`\ , `dVSZ-a1 Ljb*b (3Z*q ˙*V\b*E
"M ,m/*W\an \h1Zn f\W\/ZmYD bd/1Zmy
,\4/df ]`1/,1k*WE hb\ ,aV\`1 Z*abd]Sb 4SY*D ) S
1k1 Z1aV\WnV\ h1W\,1VE /`\3* \b f\W\/*E ab\qWS
, *Y+*`1 ]1`1/ \-`\YZmY h*Z\YE S4 V\b\`\-\
\+mhZ\ ]SW /\Y*jZSy aV\bD *Z +mW h*abShZ\
4*]\WZ1Z f\W\/Z\y ,\/\yD b\ Ym b*Y /1W*WSH
\4,\Wnb1 YZ1 `*aaV*4*bn a,\p Sab\`SpD
˙˚ ˙%˚ ˙%
)`\/SWaq;Y*`b*5=7:-\/*S+mWYW*/jSYS4
h1bm`1f /1b1yD m 3SWS Z* Z1+\Wnj\y e1`Y1 ,
,\ab\hZ\y h*abS (3Z\y ˙*V\bmD * e1`Y1 Z*j*
a1Ynq YZ\-\ b`d/SW*anE Z\ Z1 ob\ +mW\ /Wq Z*a
a*YmY ,*3ZmYD 5=78 -\/d Y\S `\/Sb1WS V`1aO
bSWSanE ab*, ,S/1b1WqYS 1-\,mD ZS ]\a,qbSO
WSan Z*j1Yd Z1+1aZ\Yd bgd 1-\,1E ]\ob\Yd
]`1,mj1 ,a1-\ /Wq ZSf +mW\ Sa]\WZ1ZS1 ,\WS \O
-*D \y /1/ W*`1Za S ]\4/Z11 /q/q We`1/ +mWS
aWd3Sb1WqYS b\,*`Sk1ab,* Lb\-/* b*V Z*4m,*WS
V\\`/SZ*b\`* a\,1b* ab*`1yjSZM , Z*j1Y Y*O
W1ZnV\Y a\+`*ZSS , \Z/S Ljb*b (3Z*q ˙*V\b*MD
Z*j1y a1Yn1 +mW\ 4*,1/1Z\ ]\a1k*bn ,a1
,ab`1hS a\+`*ZSq S `1-dWq`Z\ ]`\]\,1/\,*bn ]\
/\Y*YE /1Wqan a Wp/nYS hd/1aZ\y +S+W1yaV\y
Z*/13/\y Z* +d/dk11D \/Sb1WS ]\/*,*WS Z*Y
]`1V`*aZmy ]`SY1` S \+dh*WS Z*aE hb\ aSWnZ\
]\,WSqW\ Z* ,ap Z*jd 3S4ZnD qE S Y\q a1abO
`* ˙\`\bS ab*WS ,\4,1k*b1WqYS *`ab,* , j1O
abSW1bZ1Y ,\4`*ab1D , 5=87 -\/d q 4*]Sa*Waq
, "V\Wd b1\V`*bSh1aV\-\ aWd31ZSqE V\b\`dp
b\WnV\Ob\WnV\ Z*h*WS ]`\,\/Sbn , a\+`*ZSqfD
\a1k1ZS1 V\Z-`1aa\, +mW\ ,*3Z\y h*abnp Z*O
j1y 3S4ZSD 5=8= -\/d Z* V\Z-`1aa1 , -\`\/1 dO
\Wa Ljb*b (3Z*q ˙*V\b*M a `1hnp w31 ]\4O
/Z11E h1Y ,m /dY*1b1Ix ,mabd]SW ]`S-W*j1ZZmy
/\VW*/hSVE +`*b `*Zb npb1`D ) /\ aSf ]\` ]\YO
Zp obd `1hnD Z \+`*bSW \a\+\1 ,ZSY*ZS1 Z* b\E
7

hb\ ,a1 ]\a,qbS,jS1aq \-d f`SabS*Z1 /\W3Zm
\b/*,*bn a,\S aSWm ]`\,\4-W*j1ZSp +W*-\y ,1O
abS \ \3n1Y *`ab,1D 'b\ 4*ab*,SW\ Y1Zq 4*/dO
Y*bnaq \ ]\a,qk1ZSS 1-\,1D b\Y 31 -\/dE 56 Z\O
q+`qE Z* aW1/dpk1Y `*y\ZZ\Y V\Z-`1aa1E V\b\O
`my ]`\f\/SW , `dVSZ-a1E q ]`SZqW V`1k1ZS1 P
, f\W\/Z\Y *Y+*`1E \ V\b\`\Y q -\,\`SW ,Z*h*W1D
w+*aa1yZ1x/WqV`1k1ZSqPh*Z1S4\gSZV\,*ZO
Z\y ab*WS P V`1abSW\an h1b,1`\ h1W\,1VD
\aW1V`1k1ZSqq]\ab*,SWg1WnPab*bn]S\O
Z1`\YD ) Z*h*W ob\ aWd31ZS1 5 qZ,*`q 5=96 -\/*E
V\-/* YZ1 +mW\ 59D S+WSS -\,\`SbaqB wb\ f\O
/Sb a Yd/`mYSE ab*Z1b Yd/`mYxE * , Y\1y a1Yn1
+mW\ YZ\-\ Yd/`mfE V\b\`m1 \/\+`SWS Y\1 `1O
j1ZS1 aWd3Sbn ]S\Z1`\Y L`SbD 57B6>MD ˙q/q
˙3dWSdaab*WY\SYZ*]*`ZSV\Y]\]S\Z1`aV\Yd
aWd31ZSpD ˚Yd +mW\ :> W1bE Z\E Z1aY\b`q Z* `*4O
ZSgd , ,\4`*ab1E Z*Y Z`*,SW\an aWd3Sbn ,/,\1YD
Z +mW \h1Zn Yd/`mY h1W\,1V\YE 3S4Z1ZZmy
\]mb V\b\`\-\ YZ\-\Yd Y1Zq Z*dhSWD aV\`1
]S\Z1`\Y Z*h*W* aWd3Sbn S ˙\`\bSD
˙ •% ˙˛˚˚•
V\WnV\qa1+q]\YZpE`\/Sb1WSh*ab\]`S-W*O
j*WS V Z*Y , -\abS `*y\ZZmf Z*/4S`*b1W1y S Sf
31ZD -`\YZ\1 ,WSqZS1 Z* Y1Zq \V*4*WS ˙31aaS
SSZZ*ZbdoWWDbh*abSSY1ZZ\\ZS]\+d/SO
WS Y1Zq Z*h*bn ]S\Z1`aV\1 aWd31ZS1D `\q,Wqq
V\ YZ1 WShZ\1 ,ZSY*ZS1E \ZS `*4\3-WS ,\ YZ1
31W*ZS1 ab*,Sbn ]1`1/ a\+\y b1\V`*bSh1aVS1
g1WSD \-/* \ZS ]\a1k*WS a\+`*ZSq Z1]\/*W1Vd
\b Z*aE \ZS SZ\-/* +`*WS Y1Zq a a\+\y , aWd31O
ZS1D *VSY 31 4*Y1h*b1WnZmY +mW\ b\ ,`1YqI
\aW1 *ZbdoWW\, , Z*j1 a\+`*ZS1 ]`S1f*W
`*y\ZZmy Z*/4S`*b1Wn */ SWW1` a\ a,\1y 31O
Z\y ˙3\*ZD Z1 d31 Sa]\WZSW\an 5

*V\y h1W\,1VE aSWnZ\ Y1Zq dV`1]SW\D Sb\-1 ,
*,-dab1 5=98 -\/* ]`S4m,Z*q V\YSaaSq ]`S4Z*W*
Y1Zq `1WS-S\4ZmY aWd3Sb1W1YD \aW1 ob\-\ ]1O
`1/\ YZ\y \bV`mW*an /,1`n V /`d-\y b1\V`*bSh1O
aV\y g1WSD
`SY1`Z\ , ob\ 31 ,`1Yq Y1Zq ]`S-W*aSWS
aWd3Sbn , 1eSWnE Z* b*V Z*4m,*1Y\y e1`Y1 +O
k1ab,* b\`\31,\y *jZSE `*a]\W*-*,j1yaq ,
npO•\`V1E , `*y\Z1 b*b1ZOyW1Z/D ) ]`\aWdO
3SW b*Y \V\W\ b`1f W1bD obSY ,`1Y1Z1Y d Y1Zq
a,q4*Z\ YZ\-\ ]`SqbZmf ,\a]\YSZ*ZSyE ,1/n q
Y\- ]\`*+\b*bn a \h1Zn Yd/`mYS +`*bnqYS S a1O
ab`*YSD
˝˚˚ ˚˚
* Z*j1y e1`Y1 b*V31 Z*f\/SW*an `*/S\ab*ZO
gSq WBBRD ,S/1b1WS 1-\,m Sa]\Wn4\,*WS 11
a 5=68 ]\ 5=9; -\/D * e1`Y1 `*+\b*WS WSjn
59P6> ,1eSWng1,D \hbS ,a1 S4 Z*a +mWS Y\W\O
/m S Z1\]mbZmD \ ,Y1ab1 a Z*YS aWd3SW ]\Y*O
4*ZZmy +`*b ]\ SY1ZS 'W/\Z d/d\`bE V\b\`my
+mW Z*YZ\-\ ab*`j1 Z*aD Z +mW \h1Zn Yd/`mY
+`*b\Y S ]\O\b1h1aVS Z*a \]1V*WD W*-\/*`q \+O
k1ZSp a ZSY Ym `\aWS /df\,Z\D \-/* S4O4*
Z*j1-\ Z1a\,1`j1Zab,* ,\4ZSV*WS b`d/Z\abSE
+`*b d/d\`b -\,\`SWB w`\ab\ d/S,Sb1WnZ\E V*O
VS1 /1W* a\,1`j*1b \a]\/nE Z1aY\b`q Z* Z1a\O
,1`j1Zab,\ b1fE V\-\ \Z Sa]\Wn4d1bxD
˙Wq Z*a +mW\ \a\+\y h1abnp a\b`d/ZSh*bn a
+`*b\Y `1/1`SV\Y `1Zg1YD m ,\afSk*WSan
1-\ Yd/`\abnp S ]\`*4Sb1WnZmYS +S+W1yaVSYS
4Z*ZSqYSD Z ,a1-/* Z*f\/SW ,`1Yq /Wq V*3/\O
-\ S4 Z*aD ˚k1 a Z*YS aWd3SW *``S 1b1`a\ZE
V\b\`my +mW ]\,*`\YD ˚-\ Z*ab\qk*q e*YSWSq
+mW* *]*`-S`\]dW\aE Z\ e*YSWSp 1b1`a\Z
]`\S4Z\aSbn +mW\ -\`*4/\ W1-h1I Z b\31 +mW
]\Y*4*ZZSV\Y S \bWSh*Waq ,m/*pkSYaq `,1ZSO
1Y , aWd31ZSSD `*b 1b1`a\Z da1`/Z\ b`d/SWaq
, 1eSW1E Z\ ZSV\-/* Z1 ]`1Z1+`1-*W ]`\]\,1/O
ZSh1aVSY aWd31ZS1YD *3/my Y1aqg \Z `*a]`\O
ab`*ZqW a\bZS 3d`Z*W\,D Z1-\ b\31 +mWS -WdO
+\VS1 +S+W1yaVS1 4Z*ZSqE S \Z \b,1h*W Z* Z*jS
YZ\-\hSaW1ZZm1 ,\]`\amD
& ˙% ˚˚
m`*k1ZZm1 Z* e1`Y1 e`dVbm S \,\kS b*Y
31 V\Za1`,S`\,*WS Z* 4SYdD *3/my -\/ /Wq
,a1y ,1eSWnaV\y a1YnS Ym 4*-\b*,WS,*WS \V\O
W\ 89 bmaqh +*Z\V V\Za1`,S`\,*ZZmf \,\k1y S
e`dVb\,D Z1 ]\ah*abWS,SW\an aWd3Sbn a 'bb\y
Z/31W\yS'bb\ydb
*``S 1b1`a\Z
+mW `1,Z\abZmY
]`\]\,1/ZSV\Y
* `*/S\ab*ZgSS WBBR
a +`*b\Y `1Zg1Y
6>5; 9

m a Z/31W\y ]1`1/ SZb1`,np
Z* b1W1,S/1ZSSD 5=;9 -\/
dbE d/S,Sb1WnZ\ Yd/`\y a1ab`\yD Z* ]`S/dYmO
,*W* ,a1 `1g1]bmD \ ,`1Yq a14\Z* 4*-\b\,\V Z*Y
]\Y\-*WS Y1abZm1 a1ab`mE S 'bb* `*a]`1/1WqW*
Y13/d ZSYS `*+\bdD \bq 'bb* +mW* Y*ab1`\Y
a,\1-\ /1W*E \Z* ]\/*,*W* ]`1V`*aZmy ]`SY1` ,
b\YE V*V d,*3*bn +`*bn1,E V\b\`m1 +mWS Z*/4SO
`*b1WqYS Z* e1`Y1D ) ,\afSk*Waq b1YE V*V \Z*
]\/hSZq1baq b1\V`*bSh1aV\Yd -W*,1Zab,dD
`1/S Y\W\/mf a1ab1`E V\b\`m1 ]`S143*WS `*O
+\b*bn Z* e1`YdE +mW* Z/31W* \dY1Z\D 'bb*
]\Y\-*W* 1y /1W*bn ]1`,m1 j*-S , SabSZ1D *VE
aWd3* , 1eSW1E q ,ab`1bSW 1k1 \/Zd Yd/`dp a1O
ab`dE a V\b\`\y q S/d ]\ 3S4ZS d31 9< W1bD m ]\O
31ZSWSan , *]`1W1 5=9< -\/* S ,Y1ab1 dh*ab,\,*O
WS , `*4Zmf ,S/*f aWd31ZSqD * ]`\bq31ZSS
,a1f obSf W1b +144*,1bZ*q ]`1/*ZZ\abn Z/3S
1-\,1 dV`1]WqW* Z*j +`*VD ) Y\-d ]\WZ\abnp
Z* Z11 `*aahSbm,*bnE V*VS1 +m b`d/Z\abS ZS
,ab*,*WS Z* Z*j1Y ]dbSD
˚˚ •˚ ˝˚˚
\-/* , 5=9; -\/d Ym ]`\/*WS Z*jd `*/S\O
ab*ZgSp Z* b*b1ZOyW1Z/1E q Z1/\W-\1 ,`1Yq
]`\/\W3SW aWd3Sbn , 1eSW1D \aW1 a,*/n+m q
d1f*W S4 1eSWqE S Ym a Z/3S ]`SY1`Z\ b`S -\O
/* aWd3SWS Z* b*b1ZOyW1Z/1 ]S\Z1`*YSD *O
V\1Ob\ ,`1Yq q /*31 `*+\b*W d Z\,mf ,W*/1Wng1,
Z*j1y `*/S\ab*ZgSSE V\b\`*q b1]1`n Z*4m,*O
W*an WPOWD
m a Z/3S ab*`*WSan ,1abS ]`\abdp 3S4ZnE
hb\+m +mbn -\b\,mYS \b]`*,Sbnaq aWd3Sbn bdO
/*E -/1 ]\Z*/\+Sbaq Z*j* ]\Y\knD ,\b , Z*h*O
W1 5=:5 -\/* Ym ]`SZqWS ]`S-W*j1ZS1 aWd3Sbn
a]1gS*WnZmYS ]S\Z1`*YS , \WaOSbS Ljb*b
1+`*aV*MD b\WnV\ Ym bd/* ]1`11f*WSE V*V Z*a
]`S-W*aSWS ]`\ybS \+dh1ZS1 , "V\W1 a,qk1ZO
Z\-\ aWd31ZSqD \-/* \+dh1ZS1 ]`\/\W3Sb1WnO
Z\abnp \/SZ Y1aqg ]`\f\/SW\ , *dbO*ZaSZ-1
Ljb*b npO•\`VMD *Y \h1Zn Z`*,SW\an dhSbnaqE
Ym ]`1/,Vdj*WSE V*V ,1`Z1Yaq , 1+`*aVd S +dO
/1Y ]`SY1Zqbn b*Y ]\Wdh1ZZm1 4Z*ZSqD *V 31
Ym d/S,SWSanE ]\WdhS, Z\,\1 Z*4Z*h1ZS1 P aWdO
3Sbn YSaaS\Z1`*YS , *Y+\/31I m \V*4*WSan
, ]`1V`*aZ\y ab`*Z1 , (-\O\ab\hZ\y 4SSE ,
V\b\`\y ,a1 P ]`S`\/*E 4,dVSE 4*]*fS P +mW\
/Wq Z*a Z1]`S,mhZmY S Z\,mYD *Y Z1 b1`]1O
W\an `*aaV*4*bn Y1abZmY 3Sb1WqY +W*-dp ,1abnD
/Z*V\ ]\WSbSh1aV*q aSbd*gSq S4Y1ZSW*anE
S Z*Y ]`SjW\an ]1`11f*bn , (3Zmy n1bZ*YD
a\3*W1ZSpE h1`14 /,* -\/* d Y1Zq ,\4ZSVWS a1O
`n14Zm1 ]`\+W1Ym a\ 4/\`\,n1YE S Ym +mWS ,mO
Zd3/1Zm ,1`Zdbnaq /\Y\yD *V b\WnV\ q \V`1]E
Ym ,Z\,n ab*WS aWd3Sbn ]\WZ\,`1Y1ZZ\D
Y*`b1 5=:9 -\/* Z*Y ]\`dhSWS 4*ZSY*bnO
aq `*4l14/Z\y `*+\b\yD * ]`\bq31ZSS 77 W1b
q aWd3SW `*y\ZZmY S \+W*abZmY Z*/4S`*b1W1YE
, b\Y hSaW1 YZ\-\ ,`1Y1ZS ]\a,qk*W `*+\b1E
a,q4*ZZ\y a V\Z-`1aa*YSD \Z-`1aam ,a1-/* +mO
WS/WqY1Zqh1YOb\\a\+1ZZmYE]\ob\Ydqa`*O
/\abnp ]\Y\-*W , Sf ]\/-\b\,V1 S ]`\,1/1ZSSD
1aV\WnV\ W1b Ym aWd3SWS , npO•\`V1E -/1
V\Z-`1aam Z1 `*4 ]`\f\/SWS Z* ab*/S\Z1 w)ZVSxD
˛#˚˚ ˚&
˚˚˚ "%
maZ/3SEV*VSYZ\-S1S4b1fEVb\dh*ab,dO
1b , a]1gS*WnZ\Y ]\WZ\,`1Y1ZZ\Y aWd31ZSSE
]\Wdh*WS SZb1`1aZm1E Z\ Z1]`\abm1 4*/*ZSqD
*]`SY1`E , 5==9 -\/d Y1Zq Z*4Z*hSWS ]`1]\/*O
: ˝˚) ")

,*b1W1Y , "V\W1 da\,1`j1Zab,\,*ZSq aWd31ZSqD
h1`14 b`S -\/* Z*a ]`S-W*aSWS , 1eSWnD *V\1
31 ob\ +mW\ ah*abn1 P ,1`Zdbnaq bd/*E -/1 +\W11
a\`\V* W1b Z*4*/ q Z*h*W a]1gS*WnZ\1 ]\WZ\,`1O
Y1ZZ\1 aWd31ZS1D ) `*+\b*W , aWd31+Z\Y \b/1O
W1E * b*V31 +mW ]`1]\/*,*b1W1Y , `*4WShZmf
jV\W*fD 6>>; -\/d ]\ `1j1ZSp dV\,\/qk1-\
a\,1b* ]\q,SWaq Z\,my \b/1W P \b/1W b1\V`*bSO
h1aV\-\ \+dh1ZSqD Z /\W31Z +mW \b,1h*bn 4*
jV\WmE V\b\`m1 ]`\f\/qb , 1eSW1D 1aV\WnV\
W1b q aWd3SW Z*/4S`*b1W1Y ob\-\ \b/1W*D
]\aW1/ZS1 -\/m , ae1`1 b1\V`*bSh1aV\-\
\+dh1ZSq ]`\S4\jW\ Z1Y*W\ 4Z*hSb1WnZmf S4O
Y1Z1ZSyD 6>>< -\/d ]\q,SW*an Z\,*q jV\W* P
"V\W* /Wq ab*`1yjSZ a\+`*ZSqD b1h1ZS1 /,df
aW1/dpkSf W1b , Z1y ]`\jWS \+dh1ZS1 +\W11
56 bmaqh ab*`1yjSZD ˛*ZqbSq ]`\f\/SWS , *bO
b1`a\Z1 S , `dVWSZ1D 1]1`n ob* jV\W* ]`\f\O
/Sb S , /`d-Sf Y1ab*fE S 4*ZqbSq b*Y ]`\,\/qb
]`1]\/*,*b1WSE aWd3*kS1 , ]\W1D 6>5> -\/d
"V\W* da\,1`j1Zab,\,*ZSq aWd31ZSq +mW* ]1O
`1SY1Z\,*Z* , S+W1yaVdp jV\Wd /Wq Z131Z*O
bmf +`*bn1,D `\Y1 b\-\E ]\q,SW*an Z\,*q jV\O
W* P S+W1yaV*q jV\W* /Wq ad]`d31aVSf ]*`D
6>59 aWd31+Z\Y -\/d obS /,1 jV\Wm +mWS
\+l1/SZ1Zm , \/Zd P "V\Wd +W*-\,1abZSV\,
*`ab,*D 1]1`n , Z1y Y\-WS dhSbnaq V*V ad]`dO
31aVS1 ]*`mE b*V S Z1 a\ab\qkS1 , +`*V1 +`*bnq
Sa1ab`mD*V31,a1+mWSah*abWS,md4Z*bnEhb\
ob* jV\W* +d/1b ]`\,\/Sbnaq ,\ YZ\-Sf eSWS*O
W*fI b`*/Z\E hb\ ,a1 +\Wnj1 f`SabS*Z Y\-db
]`\f\/Sbn b1\V`*bSh1aV\1 \+dh1ZS1D Z1 \h1Zn
Z`*,Sbaq 4Z*V\YSbnaq a\ YZ\-SYS abd/1Zb*YSE
-\b\,mYS ]`\ybS b*V\1 \+dh1ZS1D
a]\YSZ*q a,\p 3S4Zn P a\ /Zq V`1k1ZSq /\
aSf ]\`EP q Z1 ]1`1ab*p +W*-\/*`Sbn 1-\,d 4*
Yd/`mf +`*bn1, S a1ab1`E V\b\`m1 ]\Y\-*WS YZ1
S/bS ]\ ]dbS SabSZmD 1 ,a1 S4 ZSf +mWS Y\SYS
`\,1aZSV*YSE * Vb\Ob\ +mW /`d-\y Z*gS\Z*WnZ\O
abSD /Z*V\ ,a1 \ZS +mWS /df\,ZmYS Wp/nYSD \
Sf /1W*Y S Z*ab`\p +mW\ ,S/Z\E V*V aSWnZ\ \ZS
Wp+qb 1-\,dD 1-\ \`-*ZS4*gSS 1abn b*V YZ\-\
Yd/`mf +`*bn1, S a1ab1`E dh*an d V\b\`mf Y\3Z\
\+`1abS Yd/`\abnI Y1ZZ\ b*V q S ]\abd]*WD
Z1 Z`*,Sbaq 4Z*V\YSbnaq
a\ abd/1Zb*YS S4 `*4Zmf ab`*Z
6>5; ;

\4/*,*yb1 h1abn b1YE
Vb\ 11 /\ab\SZ
wS/qk1YdZ*]`1ab\W1S)-Z1ZVd+W*-\aW\,1ZS1E
h1abnE aW*,* S Y\-dk1ab,\ ,\ ,1VS ,1V\,x LD 9B57MD
˚B =E 5><
% % ˚H
\h1Yd 1-\,* S Sada `SO
ab\a /\ab\yZm ]\hSb*ZSqH
b\ S4 Wp/1y 4*aWd3S,*1b
h1abSS]\h1YdH
˚aWS Ym ,\4/*1Y h1abn b1YE
Vb\ 11 /\ab\SZE V*VS1 ]W\/m
ob\ ]`SZ\aSbH
& V\-\OWS+\ \4Z*h*1b ]`\q,Wqbn V Z1Yd ]\hb1ZS1E d,*O
31ZS1D ]\WZ1 1ab1ab,1ZZ\ \3S/*bnE hb\ b\bE Vb\ /\ab\SZ b*O
V\-\ \bZ\j1ZSqE 4*aWd3SW 1-\ a,\SYS /1W*YS SWS 4*ZSY*1b
V*V\1Ob\ \a\+\1 ]\W\31ZS1D a,q4S a obSY Y\-db ,\4ZSVO
Zdbn ,\]`\amB V\-\ Ym /\W3Zm hbSbn S ]\h1YdH
6 *V ,S/Z\ S4 bV`\,1ZSq 9B57E wS/qkSy Z* ]`1ab\W1 S
)-Z1Z\VxE Z1a\YZ1ZZ\E 4*aWd3S,*pb b\-\E hb\+m SY \V*4mO
,*WS h1abnD 8Oy -W*,1 bV`\,1ZSq d]\YSZ*1baq \/Z* S4
]`ShSZE ]\h1Yd 1-\,* /\ab\SZ h1abSD ˛*ZSY*pkS1 ,ma\O
V\1 ]\W\31ZS1 /df\,Zm1 a\4/*ZSq 1/SZ\-W*aZ\ ,\4Z\aqb
f,*Wd 1-\,1E w˝S,dk1Yd ,\ ,1VS ,1V\,xB w˙\ab\SZ bmE 1O
-\,*E Z*j \-E ]`SZqbn aW*,dE h1abn S aSWdE ]\b\Yd hb\ bm a\O
b,\`SW ,a1 S ,a1 ]\ b,\1y ,\W1 adk1ab,d1b S a\b,\`1Z\x
LbVD 8B=P55MD
7 )-Z1Z\V P ob\ Sada `Sab\aD Z w)-Z1Z\V \-*E V\O
5D \h1YdZ1V\b\`m1Wp/SY\-db4*aWd3S,*bnh1abSSd,*31ZSqH
*VS1 ,\]`\am Ym \+ad/SYH
6E 7D *M \h1Yd 1-\,* /\ab\SZ h1abSE V*V ZSVb\ /`d-\yH LY\b`SO
b1 SWWpab`*gSp , Z*h*W1 ab*bnSDM +M b\ , bV`\,1ZSS 9B57 ]`1/O
ab*,W1Z )-Z1ZV\Y S ]\h1Yd \Z /\ab\SZ h1abSH

\`my +1`1b -`1f YS`*x L\*ZD 5B6=MD
S+WSS -\,\`SbaqE hb\ \Z Z*YZ\-\
]`1,\af\/Sb ,a1f g*`1yE V\-/*OWS+\
]`*,S,jSf Z* 41YW1D Z Z*4,*Z w*O
`1Y g*`ab,dpkSf S \a]\/SZ\Y -\a]\/O
ab,dpkSfE 1/SZab,1ZZmYE \+W*/*pkSY
+1aaY1`bS1YE 3S,dkSY , Z1]`Sabd]Z\Y
a,1b1E V\b\`\-\ ZSVb\ S4 Wp/1y Z1 ,SO
/1W S ,S/1bn Z1 Y\31bx L5 SYD :B58P5:MD
*V\y 1k1 g*`n SWS ]`*,Sb1Wn /\+`\O
,\WnZ\ \b/*W a,\p 3S4Zn V*V ,mVd] 4*
Z*jS -`1fSH Z1 ,aqVSf a\YZ1ZSyE a1`/O
g1 ]\+d3/*1b Z*a ,\aVWSg*bn ,Y1ab1 a
YS`S*/*YS Z1+1aZmf a\4/*ZSyB w)-Z1O
Z\VE V\b\`my +mW d+SbE /\ab\SZ ]`SO
Zqbn Y\-dk1ab,\E +\-*bab,\E Yd/`\abnE
aSWdE h1abnE aW*,d S +W*-\aW\,1ZS1x
LbVD 9B56MD
8 m /\W3Zm hbSbn 1-\,d S `Sab*D
b ob\-\ 4*,SaSb Z*j* ,1hZ*q 3S4ZnD
'b\qaZ\,S/Z\S4aW\,Sada*E4*]Sa*ZO
Zmf , \*ZZ* 9B66E 67B wb1g Z1 ad/Sb
ZSV\-\E Z\ ,1an ad/ ]1`1/*W mZdE hb\+m
,a1 hbSWS mZ*E V*V hbdb bg*D b\ Z1
hbSb mZ*E b\b Z1 hbSb S bg*E V\b\O
`my 1-\ ]\aW*WxD L˛*hSb*y a*W\Y 6B55E
56DM
9 p/S +mWS a\4/*Zm w]\ \+`*4d \O
-*x LmbD 5B6;MD \ob\Yd +\WnjSZab,\ S4
ZSfE f\bq S , `*4Z\y ab1]1ZSE ]`\q,O
Wqpb Z1V\b\`m1 V*h1ab,*E a,\yab,1ZZm1
\-dD p/qY ]`SadkS Wp+\,nE /\+`\O
b* S a\ab`*/*ZS1D ZS +mWS Z*/1W1Zm
a\,1abnp P ,`\3/1ZZ\y a]\a\+Z\abnp
`*4WSh*bnE hb\ ]`*,SWnZ\ S hb\ Z1]`*O
,SWnZ\E hb\ h1abZ\ S hb\ +1ah1abZ\E hb\
dY1abZ\Shb\Z1dY1abZ\D`*,/*Ea\O
,1abn Y\31b +mbn SaV*31ZZ\yE * ]\`\y
\Z* ]\/aV*4m,*1b Z1 b\E hb\ Zd3Z\ LSYD
6B58E 59MD \hbS ,a1f Wp/1y ]`S,W1V*pb
hSab\b* S V`*a\b*D , g1W\Y Wp/S f\bqb
8D \h1Yd Ym /\W3Zm hbSbn 1-\,d S `Sab*H
9D \h1Yd ,a1 Wp/S , V*V\yOb\ ab1]1ZS /\O
ab\yZm h1abS S d,*31ZSqH
3Sbn , YS`1 /`d- a /`d-\YD a\4Z*pb
\ZS ob\ SWS Z1bE Z\ h*abShZ\ \ZS ]\/`*O
3*pb , ob\Y 1-\,1 S ]\ob\Yd , V*V\yO
b\ ab1]1ZS /\ab\yZm h1abS S d,*31ZSq
LaD

\W3Zm ]\//1`3S,*bn 4*V\Z S ]\`qO
/\VE * b*V31 4*+\bSbnaq \ +W*-\]\WdhSS
-`*3/*ZD 'b\ ]`SZ\aSb ,a1Y ]\Wn4dD \b
]\h1Yd *]\ab\W *,1W a\,1b\,*W f`SO
abS*Z*Y \bZ\aSbnaq V ZSY V*V V w,maO
jSY ,W*abqYx S ]\/hSZqbnaq SYD Z ]SO
a*WB wb/*,*yb1 ,a1Y /\W3Z\1B V\Yd Z*O
W\- P Z*W\-DDD V\Yd h1abn P h1abnx LSYD
57B5E ;MD
= a\-W*aSS a obSYS aW\,*YS ,S/1O
b1WS 1-\,m \f\bZ\ \V*4m,*pb b*VSY
Wp/qY h1abn P , b\y Y1`1E , V*V\y ob\
]`SZqb\ , Sf Y1abZ\abSD Ym -\b\,m
a\b`d/ZSh*bn a ZSYSE V\-/* \ZS ,m]\WO
Zqpb a,\S \+q4*ZZ\abSD b\ 31 ,`1Yq
Ym \V*4m,*1Y SY h1abn , ]`1/1W*f `*O
4dYZ\-\ S dhSbm,*1Y +S+W1yaVS1 ]`SZO
gS]mD ob\Y ,\]`\a1 Ym Z1 Y\31Y
\aWdj*bnaq \-* SWS Z*`djSbn f`SabSO
*ZaVSy Z1yb`*WSb1bD L˛*hSb*y 5 1b`*
6B57P5;DM
5> Wd3Sb1WS 1-\,mE V\b\`m1 3SWS
,]`\jW\YE]\/*WSZ*Y]`SY1`,b\YE
V*V \bZ\aSbnaq V ]`1/ab*,Sb1WqY ,W*O
abSD \-/* `SYaVSy SY]1`*b\` ]`SV*4*W
,a1Y a,\SY ]\//*ZZmY ]`\ybS ]1`1O
]SanE \aSe S *`Sq ]\aWdjZ\ \b]`*O
,SWSan , SeW11YE f\bq *`Sq ,\bO
,\b /\W3Z* +mW* `\/Sbn a,\1-\ ]1`,\-\
`1+1ZV* LdVS 6B5P9MD \4/Z11E V\-/*
*,Wd +mW\ ]`1/lq,W1Z\ a1`n14Z\1 \+O
,SZ1ZS1E \Z b*VbShZ\ ,mabd]SW , a,\p
4*kSbdS]`\q,SW/\W3Z\1d,*31ZS1V
g*`p `\/d -`S]]1 S 1abdE ]`*,Sb1O
Wp `SYaV\y ]`\,SZgSS d/1q L˙1qZD
69B5P56C 6:B5P7MD
55 1Y Z1 Y1Z11 ,S/1b1WS 1-\,m Z1
5>D *V\y ]`SY1` , b\YE V*V \bZ\aSbnaq V
]`1/ab*,Sb1WqY ,W*abSE ]\/*WS Z*Y aWd3SO
b1WS 1-\,mE 3S,jS1 , ]`\jW\YH
55E 56D *M \h1Yd Ym ]\O`*4Z\Yd \bZ\aSYaq
V ]`1/ab*,Sb1WqY ,W*abS S `1WS-S\4ZmY `dO
V\,\/Sb1WqYH +M h1Yd ]`S,1W\ b\E hb\ \/SZ
*,ab`SyaVSy ,S/1b1Wn \bZ1aaq a d,*31ZSO
1Y V ]\WSbSVdH
\V*4m,*pb V*V\yOb\ \a\+\y h1abS `1WSO
-S\4ZmY `dV\,\/Sb1WqYE /*31 1aWS b1
\3S/*pb V a1+1 b*V\-\ \bZ\j1ZSqD \3O
Z*q `1WS-Sq `*a]`\ab`*Zq1b W\3n \ \O
-1 S SaV*3*1b +S+W1yaVS1 dh1ZSqD \oO
b\Yd Ym \bZ\aSYaq V `1WS-S\4ZmY `dO
V\,\/Sb1WqY a b1Y 31 d,*31ZS1YE hb\ S
V\ ,a1Y Wp/qYE Z\ Z1 ,\4/*1Y SY ]\h1O
ab1yD *V S4,1abZ\E 3S,q Z* 41YW1E SO
ada `*4\+W*h*W b*VSf Wp/1yE Z*4m,*q
Sf WSg1Y1`*YS S aW1]mYS ]\,\/m`qYS
L*beD 67B67E 68MD b\ 31 ,`1YqE 1aO
WS Ym \V*4m,*1Y /\W3Z\1 d,*31ZS1 S
h1abn b1YE Vb\ Z*/1W1Z a,1baV\y ,W*O
abnpE ob\ Y\31b ]`S,1abS V f\`\jSYE
]\`\y Z1\3S/*ZZmY `14dWnb*b*YD
56 \b hb\ ]`\S4\jW\ a 1\]\Wn/\Y
'Z-W*ybZ1`\YE `1,Z\abZmY ,S/1b1O
W1Y S4 ,ab`SSD *gSabm \b]`*,SWS 1-\
Z* ]\14/1 , V\Zg1Zb`*gS\ZZmy W*-1`n
df1Z,*Wn/D \/Z\Y ,*-\Z1 a ZSY \V*O
4*Waq 1Z`Sf W*yaaZ1` P *,ab`SyaVSy
]\WSbSVE V\b\`my ]\]*W , Z1YSW\abn V
Z*gSab*YD \ /\`\-1 +`*b 'Z-W*ybZ1`
d,*3Sb1WnZ\ ]\/1WSWaq a,\SYS ,4-WqO
/*YS a obSY ]\WSbSV\YE V\b\`my ,ZSY*O
b1WnZ\ 1-\ ,maWdj*WD \aW1 b\`\y YSO
`\,\y ,\yZm 1Z`Sf W*yaaZ1` Z1 `*4
]\Wn4\,*Waq a,\SY ,WSqZS1YE hb\+m ]\O
Y\hn ,S/1b1WqY , ,ab`SSD \4Y\3Z\E
,m 4Z*1b1 S /`d-S1 aWdh*SE V\-/* f`SaO
bS*Z1 ]`\q,WqWS /\W3Z\1 d,*31ZS1 V
hSZ\,ZSV*YE aW1/dq +S+W1yaV\Yd dV*O
4*ZSp \V*4m,*bn SY h1abnE S ob\ ]`SZ\O
aSW\ ]`1V`*aZm1 ]W\/mD
˚#˚ ˙ ˚
57 *jS +`*bnq S a1ab`m ]\ ,1`1E +1O
4daW\,Z\E /\ab\yZm b\-\E hb\+m SY \V*O
4m,*WS h1abn S d,*31ZS1D 'b\ \a\+1ZO
Z\ \bZ\aSbaq V ab*`1yjSZ*YE V\b\`m1
+1`db Z* a1+q `dV\,\/ab,\D L˛*hSb*y
57D b\ \a\+1ZZ\ /\ab\SZ h1abS S d,*31ZSq
S]\h1YdH
5> ˝˚) ")

5SY\e1p9B5;DMm d,*3*1Y obSf +`*O
bn1,E Z14*,SaSY\ \b Sf Z*gS\Z*WnZ\O
abSE \+`*4\,*ZSqE ]\W\31ZSq , \+k1O
ab,1 SWS /\ab*bV*D S+WSq Z*4m,*1b Sf
w/*`*YS , ,S/1 Wp/1yxE S SY1ZZ\ h1`14
ZSf \- 4*+\bSbaq \ a,\1Y Z*`\/1 L'eD
8BDM
58 'bSf +`*bn1, 4Z*pb V*V aYS`1ZZmf
/df\,Zmf ]*abm`1yD f aYS`1ZS1 ,S/Z\
, b\YE hb\ \ZS Z1 ]\4,\Wqpb \bZ\aSbnO
aq V a1+1 V*V V 4Z*Y1ZSb\abqYD 'bSY
\ZS aSWnZ\ \bWSh*pbaq \b YZ\-Sf a\O
,`1Y1ZZmf `1WS-S\4Zmf `dV\,\/Sb1W1y
S\bb1fE\V\YSadaaV*4*WBwZSWpO
58E 59D 1Y Z*ab\qkS1 f`SabS*ZaVS1 ]*abmO
`S \bWSh*pbaq \b b1fE Vb\ WSjn Z*4m,*1b
a1+q b*V\,mYSH
+qb a*Ym1 ]\h1bZm1 Y1ab* Z* d3SZ*fE
]1`1/ZS1 Y1ab* , aSZ*-\-*f S ]`S,1bO
ab,Sq Z* `mZ\hZmf ]W\k*/qfx L*beD
67B:E ;MD
59 *ab\qkS1 f`SabS*ZaVS1 ]*abm`S
aYS`1ZZ\ ,ZSY*pb aW\,*Y Sada*B w1
]\4,\Wqyb1 Z*4m,*bn a1+q dhSb1WqYSE
]\b\Yd hb\ d ,*a \/SZ hSb1WnE * ,m
,a1 P +`*bnqD a,\SY \bg\Y Z1 Z*4m,*yO
b1 ZSV\-\ Z* 41YW1E ]\b\Yd hb\ d ,*a
\/SZ b1g P Z1+1aZmyD ,\3/qYS Z1
]\4,\Wqyb1 a1+q Z*4m,*bnE ]\b\Yd hb\ d
,*a \/SZ \3/n P `Sab\aD \ +\WnO
jSy a`1/S ,*a /\W31Z +mbn ,*Y aWd-\yD
\bE Vb\ ,\4,mj*1b a1+qE +d/1b aYS`1ZE
* b\bE Vb\ aYS`q1b a1+qE +d/1b ,\4,mO
j1Zx L*beD 67B

hb\+m \V*4m,*bn /`d-SY h1abn b*VE V*V
\+ ob\Y -\,\`Sbaq , S+WSSD `*,SWnO
Z\1 \bZ\j1ZS1 V ob\Yd ,\]`\ad ]`SZ1O
a1b f\`\jS1 ]W\/mD
˚%˚ ˙%
5; ˚aWS Ym d,*3*1Y b1fE Vb\ Z*/1W1Z
,W*abnpE S \V*4m,*1Y SY h1abnE ob\ Y\O
31b ]`S,1abS V b\YdE hb\ \ZS +d/db 4*O
kSk*bn Z*j1 ]`*,\ a,\+\/Z\ ]`\]\O
,1/\,*bnD *ab\E ,S/q Z*j1 \bZ\j1ZS1
VZSYE\ZS]\W\3Sb1WnZ\\b4m,*pbaq
\ Z*j1y /1qb1WnZ\abSD 1aV\WnV\ W1b
Z*4*/ S`-SbE V\b\`*q aWd3Sb , 1`Y*O
ZSS ]S\Z1`\YE ]`SjW* Z* ,m]daVZ\y V
a,\1y /\h1`SD hSb1Wq aV*4*WS S`-SbE
hb\ ,a1 obS -\/m /Wq ZSf +mW\ \-`\YO
ZmY d/\,\Wnab,S1Y dhSbn /1b1y ,S/1O
b1W1yD ZS ]\/1WSWSanE hb\ +mW\ +m
\h1Zn 3*WnE 1aWS +m , Sf jV\W1 Z1 +mW\
b*VSf /1b1yD S`-Sb \+lqaZSW*B wm
dhSY Z*jSf /1b1y ,1abS a1+q b*VE V*V
b`1+d1b \-E * ob\ \4Z*h*1b , b\Y hSaO
W1 d,*3*bn dhSb1W1y S \V*4m,*bn SY
h1abnxD /Z* dhSb1WnZSg* Z* ob\ \b,1bSO
W*B w˚aWS +m ,a1 /1bS +mWS b*VSYSE V*V
,*jSE ob\ +mW* +m Z1 jV\W*E * `*yxD 1O
aV\WnV\ Z1/1Wn a]dabq /`d-*q dhSb1WnO
ZSg* ]\a1bSW* V\Z-`1aa , 1y]gS-1D
5< V*4m,*q /\W3Zdp h1abn ab*`1yO
jSZ*Y a\+`*ZSqE YmE V\Z1hZ\ 31E `dV\O
,\/ab,d1Yaq a\,1`j1ZZmYS S Yd/`mYS
]`SZgS]*YS S4 \3n1-\ W\,*D L˛*hSO
b*y ˚,`1qY 57B;E 5;DM *Y ,*3Z\ f,*O
WSbn obSf +`*bn1, 4* Sf da1`/Zmy b`d/ S
ab*`*bnaq aWdj*bnaq Sf dV*4*ZSyD *V
Ym]\Y\31YSYS/*Wnj1a`*/\abnp
Sa]\WZqbn a,\S \+q4*ZZ\abSD \Z1hZ\E
\V*4m,*q SY h1abnE Ym Z1 +d/1Y ]\/`*O
3*bn V*V\YdOZS+d/n w,S/Z\Ydx ab*`1yO
5;D V*VSY `14dWnb*b*Y ]`S,\/Sb b\E hb\ Ym
d,*3*1Y b1fE Vb\ Z*/1W1Z ,W*abnpH
5 `\Y1 b\-\E 1aWS Ym \V*4m,*1Y
/\W3Zdp h1abn /`d-SY Wp/qYE Ym Z1 +dO
/1Y 4*gSVWS,*bnaq Z* a1+1D m Z1 ,\4O
-\`/SYaqE hd,ab,dqE hb\ V Z*Y \bZ\aqbaq
a +\WnjSY d,*31ZS1YD 'b\ b*V31 ]\Y\O
31b Z*Y ]\abd]*bn b*VE V*V dhSb \`-*ZSO
4*gSq 1-\,mEP Z1 \V*4m,*bn /`d-SY
S4WSjZ1y h1abS SWS h`14Y1`Z\-\ d,*O
31ZSqE Z1 ,*3Z\E ,1`dpkS1 \ZS SWS Z1bD
Z*j1y ab\`\Zm ob\ +mW\ +m Yd/`\E
,1/n 1aWS b\bE V\Yd Ym \V*4m,*1Y h1abnE
Z*a `*4\h*`d1bE Z*j* ,1`* Z1 \aW*+11bD
65 \ ,*3Z11 ,a1-\ b\E hb\E \V*4m,*q
/\W3Zdp h1abn b1YE Vb\ 11 /\ab\SZE Ym
`*/d1Y \-*D m ]\abd]*1Y b*VE V*V \Z
ob\-\ \b Z*a \3S/*1bE S +W*-\/*`q ob\Yd
a\f`*Zq1Y ]`1/*ZZ\abn 1YdD *V Ym /*O
1Y 1Yd ,\4Y\3Z\abn \b,1h*bn Wp+\YdE
Vb\ ]mb*1baq 1-\ d]`1V*bn L`SbD 6;B55MD
\WnjSZab,\ Wp/1y , ob\Y YS`1 SY1O
pb SaV*31ZZ\1 ]`1/ab*,W1ZS1 \ b\YE
V*V aW1/d1b ,\4/*,*bn /`d-SY h1abnD m
\h1Zn `*/mE hb\ 4Z*1YE V*V /1W*bn ob\
d-\/ZmY \-d \+`*4\YD
6>D *Vdp ]\Wn4d ]`SZ\aSb Z*Y b\E hb\ Ym
\V*4m,*1Y/`d-SYh1abnSd,*31ZS1H
65D *V\,* -W*,Z*q ]`ShSZ*E ]\ V\b\`\y Z*Y
aW1/d1b ,\4/*,*bn /\W3Zdp h1abn b1YE Vb\
11 /\ab\SZH
56 ˝˚) ")

`\q,Wqyb1 ,1`d
S ]`SZSY*yb1 Yd/`m1 `1j1ZSq
wdabn ]`\aSb a ,1`\yE ZSaV\WnV\ Z1 a\YZ1,*qanx LD 5B:MD
ab\qW ]1`1/ ,m+\`\YD ˚Yd Zd3Z\ +mW\ ]`SZqbn `1j1O
ZS1B d]`*,Wqbn a,\SYS -`1jZmYS 31W*ZSqYS SWS ]\//*bnO
aq SYD *V\1 +m `1j1ZS1 \Z ZS ]`SZqWE ]\aW1/ab,Sq Z1S4O
+13Z\ ]\,WSqWS +m Z* ,ap 1-\ \ab*,jdpaq 3S4ZnD *V
S4,1abZ\E *SZ a/1W*W Z1d/*hZmy ,m+\`E V\b\`my ab\SW
3S4ZS 1-\ +`*bd ,1Wp P ,1`Z\Yd \-d h1W\,1VdD 1j1O
ZS1 *SZ* `*4`djSW\ 1-\ \bZ\j1ZSq a \4/*b1W1Y LmbD
8B7P5:MD
6 *Y h*ab\ ]`Sf\/Sbaq ]`SZSY*bn `1j1ZSqD 1 ,a1 \ZS P
,\]`\a 3S4ZS S aY1`bSD /Z*V\ ]\aW1/ab,Sq YZ\-Sf S4 ZSf
Y\-db aSWnZ\ ]\,WSqbn Z* Z*jd 3S4ZnD ˚aWS Ym ]`SZSY*1Y
Yd/`m1 `1j1ZSqE Ym aY\31Y ,1abS \bZ\aSb1WnZ\ a]\V\yO
ZdpE ah*abWS,dp 3S4ZnD ]`\bS,Z\Y 31 aWdh*1 Ym Sa]mb*O
1Y b`1,\-dE `*4\h*`\,*ZS1 S Sa]\`bSY \bZ\j1ZSq a /`d-SO
YS L`SbD 58B

Y\31b ]\Y\hn Z*Y ]\abd]*bn Yd/`\D
*3Z\ b*V31 /\,1`qbn W\,d 1-\,mE
1-\ a\,1b*Y S ,1`SbnE hb\ ]\abd]*bn b*VE
V*V dhSb Z*a \-EP ob\ Z*SWdhjSy ]dbnD
L˛*hSb*y *V\,* 5B9P

*`1yjSZm a Wp+\,np ]\Y\-*pb f`SabS*Z*Y a*Y\ab\qb1WnZ\ ]`SZSY*bn `1j1ZSq
LY\b`Sb1 *+4*g 55DM
b1 ]\aW1/\,*WS 4* ZSYSD ˛*/\W-\ /\
ob\-\ 1-\,* ]`1/d]`13/*W a,\y Z*O
`\/E hb\ b*V\1 Y\31b ]`\S4\ybS LafD
67B6MD
˙˝% ˛ &
˚"˚) ˙˚H
< `S,1/1ZZm1 ,mj1 ]`SY1`m dh*b
Z*a ,*3Z\Yd d`\VdB V*3/my /\W31Z
]`SZSY*bn `1j1ZSq a*YE * /Wq ]`SZqbSq
]`*,SWnZ\-\E Yd/`\-\ `1j1ZSq Zd3Zm
-Wd+\VS1 +S+W1yaVS1 4Z*ZSqD *W*b*Y
:B9 a\/1`3Sbaq Z*]\YSZ*ZS1B w*3/my
]\Z1a1b a,\p Z\jdxD m Z1 /\W3Zm ]1O
`1VW*/m,*bn Z* V\-\Ob\ /`d-\-\ a,\p
\b,1bab,1ZZ\abnE hb\ V*a*1baq ]`SZqbSq
`1j1ZSyD*YaW1/d1ba*YSYab*`*bnaq
]\ZqbnE hb\ +d/1b ]`*,SWnZmY , -W*4*f
\-*E S ]\abd]*bn a\\b,1bab,1ZZ\D
= *V Y\31b aWdhSbnaqE hb\ Ym ]\4,\O
WSY /`d-SY ]`SZSY*bn `1j1ZSq 4* Z*aH
\//*,jSan ,WSqZSp \V`d3*pkSfE Ym
Y\31Y a/1W*bn Z1Yd/`my ,m+\` L`SbD
E 59MD \ V*V +m /`d-S1 ZS /*,SWS Z*
Z*aE ob\ Z1 aZSY*1b a Z*a \b,1bab,1ZZ\O
abS 4* ]`SZqbS1 `1j1ZSyD m ,a1 `*,Z\
/\W3Zm ,ZSY*bn -\W\ad ,\a]Sb*ZZ\y
]\ S+WSS a\,1abSD ˛*h*abdpE 1aWS Ym
]\4,\Wq1Y/`d-SY`1j*bn4*Z*aEYmE]\
adbSE ]`SZSY*1Y `1j1ZS1 S/bS wa ZSO
YS \/Z\y /\`\-\yxD \Wdh*1baqE Ym ,a1
`*,Z\ /1W*1Y ,m+\`E \/Z*V\ \Z Y\31b
]`S,1abS V +1/1D
5> ]\ab\W *,1W ]`1/d]`1/SW -*W*O
b\, \ b\YE V*V \]*aZ\ ]\4,\Wqbn /`d-SY
]`SZSY*bn `1j1ZSq 4* ZSfD L˛*hSb*y
*W*b*Y 8B5;DM 1V\b\`m1 hW1Zm a\+`*O
ZSq ]mb*WSan `1j*bn 4* /`d-SfE ab`1O
Yqan w`*4WdhSbnx Sf a *]\ab\W*YSD \
]\h1YdH 'bS a1+qWp+S,m1 f`SabS*Z1
ab`1YSWSan /\abShn ,S/Z\-\ ]\W\31O
ZSqD ZS ]1`1jWS -`*ZSgm /\4,\W1ZO
Z\-\ S Z1 d,*3*WS ]`*,\ /`d-Sf f`SabSO
*Z ]`SZSY*bn a\+ab,1ZZm1 `1j1ZSqD
55 *,1W ]\/*W ]`1V`*aZmy ]`SY1`
, b\YE V*V d,*3*bn a,\+\/d ,\WS /`dO
-Sf Wp/1yD L˛*hSb*y 6 \`SZeqZ*Y
5>D h1Y*,1W]`1/d]`1/SW-*W*b\,H
55D *V Ym Y\31Y ]\Y\hn /`d-\Yd h1W\,1Vd
]`SZqbn b\ SWS SZ\1 `1j1ZS1H
6>5; 59

5B68DM \-/* ab*`1yjSZm /*pb a\,1b
\bZ\aSb1WnZ\ ,\]`\a\, WShZ\-\ ,mO
+\`*E \ZS /\W3Zm ]\/`*3*bn *,WdD
ZS a `*/\abnp /1Wqbaq +S+W1yaVSYS
YmaWqYS a /`d-SYS f`SabS*Z*YSD b\
31 ,`1Yq \ZS Z1 Z*,q4m,*pb SY a,\1
YZ1ZS1E Z\ /*pb ,\4Y\3Z\abn a/1W*bn
a,\y ,m+\`D ob\ ]`*,SWnZ\E ,1/n \bO
,1bab,1ZZ\abn 4* ]\aW1/ab,Sq ]`SZqO
b\-\ `1j1ZSq W13Sb Z* a*Y\Y h1W\,1O
V1D b*VE Ym Y\31Y ]\Y\-*bn /`d-SY S
\+`*k*bn Sf ,ZSY*ZS1 Z* +S+W1yaVS1
]`SZgS]m SWS a\,1bmD /Z*V\ d ZSf
1abn ]`*,\ ]`SZSY*bn a,\S `1j1ZSqE
S \ZS Z1adb 4* ZSf \b,1bab,1ZZ\abnD
˚aWS \ZS ]`SZSY*pb Yd/`\1 `1j1ZS1E
b\ ]\3Zdb f\`\jS1 ]W\/mD b*VE Z*Y
Z1Wn4q /\]daV*bn S YmaWS \ b\YE hb\ d
Z*a 1abn ]`*,\ ]`SZSY*bn `1j1ZSq 4*
/`d-Sf +`*bn1, S a1ab1`D
˙ % '•
56 Z\-S1 Wp/S 3S,db ]\ ]`SZgS]d
wWdj*y a1`/g1xD /Z*V\ ob\ \h1Zn
\]*aZ\ S , V*V\YOb\ aYmaW1 ]`\bS,\`1O
hSb S+WSSD Z* ]`1/d]`13/*1b Z*aE
hb\+mYmZ1]`SZSY*WS`1j1ZSqES/q
Z* ]\,\/d d a,\1-\ -`1jZ\-\ a1`/g*
SWS `dV\,\/ab,dqan oY\gSqYS L`SbD
6C 5;B=C 5 *`D 55B=MD
b\ 31 ]`\S4\y/1bE 1aWS Ym ]\aWdj*1Y
a1`/g1H
57 Z*j1Y aWd31ZSS \-d a1`/g1
S-`*1b ,*3Zdp `\WnE ,1/n Ym /\W3Zm
Wp+Sbn 1-\,d ,a1Y a1`/g1YE * b*V31
Wp+Sbn +WS3Z1-\E V*V a*Y\-\ a1+q
56E 57D \h1Yd \]*aZ\ aWdj*bn a1`/g1E V\-O
/* Ym \f,*h1Zm -Z1,\Y SWS ]*WS /df\YH
L*beD 66B7;P7=MD /Z*V\ ]`S,1/1ZZm1
, ]`1/m/dk1Y *+4*g1 abSfS dV*4m,*O
pb Z* \]*aZ\abnE ]\/ab1`1-*pkdp ,a1fE
Vb\ ]\4,\Wq1b oY\gSqY ,WSqbn Z* YmaWS
S ]\abd]VSD *]`SY1`E h1Y Y\31b +mbn
h`1,*b\ b\E hb\ Ym ]`SZSY*1Y `1j1ZS1E
V\-/* `*4-Z1,*ZmH ˚aWS d ,*a +mW b*V\y
\]mbE ,m W1-V\ \b,1bSb1 Z* ob\b ,\]`\a
L`SbD 58B5;C 6=B66MD ]\WdhSbaq WS d
,*a ]`SZqbn ]`*,SWnZ\1 `1j1ZS1E 1aWS
,m ]*WS /df\YH LSaD 76B:P56C `SbD
68B5>MD 1 4*+m,*yb1E hb\E a\-W*aZ\ S+O
WSSE Yd/`\ +mbn w`*+\Y 4*V\Z* \-*x
LSYD ;B69MD \,1`j1ZZ\ \h1,S/Z\E hb\E
1aWS Ym ]`SZSY*1Y ,*3Zm1 `1j1ZSq
]\/ ,WSqZS1Y oY\gSyE obS `1j1ZSqE aV\O
`11 ,a1-\E +d/db Z1]`*,SWnZmYSD
˙ ˚"˚˚
˚˚˚&
58 m /\W3Zm ]`SZSY*bn Yd/`m1 `1O
j1ZSqD /Z*V\ +m,*pb aWdh*SE V\-/*
Zd3Z\ ]1`1aY\b`1bn a,\1 `1j1ZS1 SE
,\4Y\3Z\E S4Y1ZSbn 1-\D ˙*,*yb1 ,a]\YO
ZSYE V*V 1-\,* ]\abd]SW a ZSZ1,SbqZ*O
YS , /ZS \ZmD S+WSS -\,\`SbaqB
wabSZZmy \- d,S/1W Sf /1W*E d,S/1WE
hb\ \ZS \babd]SWS \b a,\Sf 4Wmf ]db1yE
S b\-/* \- ]\3*W1W \ b\YE hb\ f\b1W Z*O
,1abS Z* ZSf +1/ab,S1E S Z1 Z*,1W 1-\x
L\Z* 7B5>MD ,S/1,E hb\ ZSZ1,SbqZ1 `*aO
V*qWSan S S4Y1ZSWSanE 1-\,* ]\Y1ZqW
a,\1 `1j1ZS1D *V \Z ]`\q,SW +W*-\`*O
4dYS1E aYS`1ZS1 S a\hd,ab,S1D `\Y1 b\O
-\E , \bWShS1 \b YZ\-Sf Wp/1yE \- Z1
]`SZSY*1b `1j1ZSq , ]`Sabd]1 -Z1,*D
59 \-/* Z*Y ab\SW\ +m S4Y1ZSbn
a,\1 `1j1ZS1H *]`SY1`E V\-/* Y1ZqO
pbaq \+ab\qb1Wnab,*E SY1pkS1 +\WnO
j\1 4Z*h1ZS1D ˙*31 1-\,* ]\`\y ]1`1O
58D 4 h1-\ ,S/Z\E hb\ ]\`\y Z1\+f\/SY\
]\Y1Zqbn a,\1 `1j1ZS1H
59D b\ Y\31b ]\+d/Sbn Z*a S4Y1ZSbn a,\1
`1j1ZS1H
5: ˝˚) ")

aY*b`S,*W a,\S `1j1ZSq ]\ ob\y ]`SO
hSZ1 L5 *`D 65B6>E 65E 6;P6=C 6 *`D
6>B5P9MD WS Ym Y\31Y d4Z*bn Z\,m1
e*VbmE V\b\`m1 +d/db ,1aVSY \aZ\,*O
ZS1Y hb\Ob\ S4Y1ZSbnD *`n ˙*,S/ ]\O
WdhSW W\3Zm1 a,1/1ZSq \ ,ZdV1 *dW*
1YeS,\ae11 S ]`SZqW a\\b,1bab,dpO
k11 `1j1ZS1D \4/Z11E V\-/* aSbd*gSq
]`\qaZSW*anE \Z ]1`1aY\b`1W a,\1 `*aO
]\`q31ZS1 L6 *YD 5:B7E 8C 5=B68P6=MD
m ]`\q,Wq1Y Yd/`\abnE 1aWS ]`S Z1O
\+f\/SY\abS ]\abd]*1Y b*V 31D
5: \3n1Y W\,1 a\,1bd1baq Z1
]`SZSY*bn ,*3Zm1 `1j1ZSq ,b\`\]qf
L`SbD 65B9MD ˚aWS Ym bk*b1WnZ\ ,4,1O
aSY ,a1 e*VbmE aV\`11 ,a1-\E Ym a/1W*O
1Y]`*,SWnZmy,m+\`L51aD9B65MD1O
`1/ b1Y V*V ]`SZqbn `1j1ZS1E -W*,1
a1YnS aW1/d1b ,m/1WSbn ,`1YqE hb\+m
SaaW1/\,*bn ,\]`\a , a,1b1 S+WSS S
f`SabS*ZaVSf ]d+WSV*gSyD *V31 1Yd
Zd3Z\ dh1abn YZ1ZS1 a,\Sf +WS4VSfD
*]`SY1`E \- ,1W1W ,`**Yd ]`SaWdO
j*bnaq V a,\1y 31Z1 LmbD 65B=P56MD
b*`1yjSZ*Y b\31 ,*3Z\ aZ*h*W* ]`\O
,1abS SaaW1/\,*ZS1D W*-\`*4dYZm1 S
aV`\YZm1 ab*`1yjSZm Z1 +d/db \]*O
a*bnaq 4* a,\y *,b\`Sb1bE 1aWS , f\/1
SaaW1/\,*ZSq \ZS ]\yYdbE hb\ Zd3Z\
]1`1aY\b`1bn d31 ]`SZqb\1 `1j1ZS1D
ZS /\W3Zm +mbn -\b\,m ]\Y1Zqbn
a,\p b\hVd 4`1ZSq S S4Y1ZSbn `1j1ZS1D
*Y Zd31Z b*V\y 31 Z*ab`\yD W*-\/*O
`q ob\Yd , a\+`*ZSS +d/1b g*`Sbn ]\`qO
/\V S b1]W*qE YS`Z*q *bY\ae1`* L˙1qZD
:B5P8MD
˚˙•˚ )% ˚"˚)
5; /ZS `1j1ZSq +\W11 a1`n14Zm1E
5:D *M b\ ]\Y\31b Z*Y ]`SZSY*bn Yd/`m1
`1j1ZSqH +M *V Zd3Z\ \bZ\aSbnaq V d31
]`SZqbmY `1j1ZSqY S ]\h1YdH
5;D W*-\/*`q h1Yd Z*jS `1j1ZSq ]`SZ1adb
f\`\jS1 ]W\/mH
h1Y /`d-S1D f Zd3Z\ +\W11 bk*b1WnZ\
\+/dY*bnE Z1 `*4 \+ad/Sbn Sf a \-\Y ,
Y\WSb,1E * ob\ Y\31b ]\b`1+\,*bn ,`1O
Y1ZSD 1V\b\`m1 f`SabS*Z1 ,ab*pb ]1O
`1/ ,m+\`\YB ab\Sb WS 4*,\/Sbn a1YnpE
*b*V31V\-\,m+`*bn,a]dbZSVS3S4O
ZSD ˚k1 \/Z\ ,*3Z\1 `1j1ZS1E V\b\`\1
Y\31b \+1`Zdbnaq YZ\31ab,\Y +W*-\O
aW\,1ZSyEP ob\ V\-/* S V*V Z*h*bn ]\WO
Z\,`1Y1ZZ\1 aWd31ZS1D obSf ,\]`\O
a*f Z1\+f\/SY\ ]\WZ\abnp ]\W*-*bnaq
Z* 1-\,d S ,1`SbnE hb\ \Z ]\Y\31b Z*Y
]`SZqbn Yd/`\1 `1j1ZS1 L`SbD 5B9MD
\ob\Yd V`*yZ1 ,*3Z\ \+`*k*bnaq V
S+WSSE V\b\`*q /*1b a*Ymy Z*/13Zmy
a\,1bE S SaV*bn \3n1-\ `dV\,\/ab,* ,
Y\WSb,1D 1 4*+m,*yb1 b*V31 \ aW1/dpO
k1YB 1-\,* Y\31b Z*/1WSbn Z*a Zd3O
ZmYS V*h1ab,*YSE hb\+m Ym ]`SZSY*WS
`1j1ZSq , a\\b,1bab,SS a 1-\ ,\W1yD
*3/my`*4EV\-/*,mab\Sb1Z*`*a]dO
bn1E 4*/*,*yb1 a1+1 ,\]`\amB ]\V*31b
WS Y\1 `1j1ZS1E hb\ q Wp+Wp 1-\,dH
d/1b WS ah*abWS,* Y\q a1YnqH d/1b WS
,S/Z\E hb\ q ]`\q,Wqp b1`]1ZS1 S /\O
+`\bdH
5< 1-\,* Z1 4*ab*,Wq1b Z*a Wp+Sbn
1-\ S aWd3Sbn 1YdD 'b\b ,m+\` /1W*1Y
Ym a*YSD \- Z*/1WSW Z*a a,\+\/\y
,\WSE S \Z d,*3*1b Z*j1 ]`*,\ ,m+SO
`*bnE +d/1Y Ym 1Yd aWd3Sbn SWS Z1b
LSaD D 68B59C 'VVWD 9B8MD \ \Z \3S/*O
1bE hb\ Ym +d/1Y aW1/\,*bn b1Y `1j1ZSO
qYE V\b\`m1 Ym ]`SZqWSE \]S`*qan Z*
1-\ a\,1bmD ˚aWS Ym ,1`SYE hb\ ]\abdO
]*bn b*VE V*V dhSb Z*a \-EP ob\ Z*SO
WdhjSy ]dbnE S /\,1`q1Y ]`SZgS]*YE
V\b\`m1 \Z a Wp+\,np /*W Z*YE Ym
aY\31Y ]`SZSY*bn Yd/`m1 `1j1ZSq S
+d/1Y b,1`/mYS w,\ ,a1f a,\Sf ]dbqfx
L*VD 5B9P

˚˛˚) )
Wd3Sb1 1-\,1
a Z1`*4/1W1ZZmY a1`/g1Y
w1-\,*E ]\3*Wdyab*E ,a]\YZSE hb\ q f\/SW ]1`1/ b\+\y
, SabSZ1 S a Z1`*4/1W1ZZmY a1`/g1Yx L6 D 6>B7MD
˚B 96E :9
% % ˚H
b\ 4Z*hSb aWd3Sbn 1-\,1
a Z1`*4/1W1ZZmY a1`/g1YH
1Yd Z*a dhSb b\E hb\ \-
\/\+`qW h1bm`1f g*`1y
d/mH
V\-\S4obSfh1bm`1f
g*`1y ,m f\bSb1 +`*bn
]`SY1` S ]\h1YdH
% ˚ Z1a\,1`j1ZZm S /1W*1Y \jS+VSD \ V ah*abnpE 1O
-\,* w]\abd]*1b a Z*YS Z1 ]\ Z*jSY -`1f*Yx ]`S daW\,SSE
hb\ Ym `*aV*S,*1Yaq S aYS`1ZZ\E a ,1`\y ]`\aSY d Z1O
-\ ]`\k1ZSq Z* \aZ\,*ZSS 31`b,m Sada* `Sab* LaD
5>7B5>MD /Z*V\E hb\+m 1-\,* +mW /\,\W1Z Z*jSY aWd31O
ZS1YE Ym /\W3Zm aWd3Sbn 1Yd wa Z1`*4/1W1ZZmY a1`/g1Yx
L5 1bD 6

+mbn ]\WZ\abnp ]`1/*ZZmY 1Yd S ZSO
V\-/* 1-\ Z1 \ab*,WqbnD S+WSS ]\/
a1`/g1Y \+mhZ\ ]\/`*4dY1,*1baq ,ZdbO
`1ZZqq adkZ\abn h1W\,1V*D ob\ ,VWpO
h*pbaq 1-\ 31W*ZSqE YmaWSE aVW\ZZ\O
abSE Z*ab`\yE a]\a\+Z\abSE ]\+d3/1ZSq
S g1WSD 4Z*hSbE b\bE d V\-\ Z1`*4/1W1ZO
Z\1 a1`/g1E aWd3Sb 1-\,1 SaV`1ZZ1E
Z1WSg1Y1`Z\D *V\y h1W\,1V aWd3Sb 1O
-\,1 Z1 /Wq ]`\e\`YmD hb\ Y\3Z\ aV*O
4*bn \ Z*aH ˚aWS YmE Z1a\,1`j1ZZm1
Wp/SE \ab*1Yaq ]\WZ\abnp ]`1/*ZZmYS
\-d S , Z*j1Y aWd31ZSS Z1b Y1ab* WSO
g1Y1`SpE 4Z*hSbE Ym aWd3SY 1-\,1 a
Z1`*4/1W1ZZmY a1`/g1Y L6 1bD 5=B=MD
8 b\+m ]\ZqbnE hb\ 4Z*hSb aWd3Sbn
\-d a Z1`*4/1W1ZZmY a1`/g1YE /*,*yO
b1 ]\`*4YmjWq1Y Z*/ ]`SY1`\Y am S
b`1f /`d-Sf Sd/1yaVSf g*`1y P \a*e*O
b*E˚41VSSS\aSSEV\b\`m1+mWS+14O
4*,1bZ\ ]`1/*Zm 1-\,1D a1 \ZS a\,1`O
j*WS \jS+VSE \/Z*V\ 1-\,* Sf \/\O
+`qWD \h1Yd 1-\,* ahSb*WE hb\ \ZS
aWd3SWS 1Yd a Z1`*4/1W1ZZmY a1`/g1YH
V*V Ym Y\31Y +`*bn a ZSf ]`SY1`H
w˚˙˚ % % &(
˚•x
9 a* +mW b`1bnSY g*`1Y g*`ab,* dO
/*E V\b\`\1 \+`*4\,*W\an ]\aW1 \b/1O
W1ZSq /1aqbS S4`*SWnaVSf ]W1Y1ZD Z
\hSabSW a,\1 g*`ab,\ \b S/\W\, S S4O
-Z*W Yd3hSZE 4*ZSY*,jSfaq f`*Y\,\y
]`\abSbdgS1yD Z /*31 wWSjSW 4,*ZSq
g*`Sgm a,\p +*+djVd **fdE 4* b\ hb\
\Z* a/1W*W* \b,`*bSb1WnZ\-\ S/\W*x
L5 *`D 59B55P57MD `\Y1 b\-\E a* ]\O
+d3/*W Z*`\/ wSaV*bn 1-\,dDDD S a\O
+Wp/*bn 4*V\Z S 4*]\,1/nxD *V ,S/Z\E
\Z `1,Z\abZ\ ]\//1`3S,*W ]\VW\Z1O
ZS1 SabSZZ\Yd \-d L6 1bD 58B8MD
8D b\ Ym `*aaY\b`SY , ob\y ab*bn1H
9D *VS1 `1jSb1WnZm1 Y1`m ]`SZqW a*H
: 1-\,* +W*-\aW\,SW d/dB , ]1`,m1
/1aqbn W1b ]`*,W1ZSq am 3Sb1WS ob\O
-\ g*`ab,* Z*aW*3/*WSan YS`\YD \ 4*O
b1Y ]`\bS, ZSf ,mabd]SW oeS\] ˛*`*D
1-\,\yaV1+mWYSWWS\Z,\SZ\,S
b`Sab*V\W1aZSgL61bD58B5E:E=E5>MD
*V g*`n ]\,1W a1+q , ob\y Z1]`\ab\y
aSbd*gSSH Z ,\ ,a1Y ]\W\3SWaq Z*
1-\,dD L˛*hSb*y 6 1b\]San 58B55DM
\- daWmj*W SaV`1ZZpp Y\WSb,d am
S ]\Y\- 1Yd `*4-`\YSbn ,\yaV\ oeS\O
]\,L61bD58B56E57MD˙*31V\-/*g*O
`S Z1 +mWS ,1`Zm 1-\,1E `*/S a,\1O
-\ SY1ZS \Z Y\- /*`\,*bn SY ]\+1/d
Z*/ ,`*-*YS L5 *`D 6>B57E 6:P7>MD \
a* ]\W*-*Waq Z* 1-\,dE S \Z \b,1O
bSW Z* 1-\ Y\WSb,dD /Z*V\ ]\4/Z11
+mWS aWdh*SE V\-/* a* ]\abd]*W Z1O
Yd/`\D *VE \/Z*3/m \Z \+`*bSWaq 4*
]\Y\knpZ1V1-\,1E*Vg*`pS`SS
L5 *`D 59B5:P66MD 1Y Z1 Y1Z11 , S+O
WSS Z*]Sa*Z\B w1`/g1 am +mW\ ]\WO
Z\abnp a 1-\,\y ,a1 /ZS 1-\ 3S4ZSxD
*VYmY\31Y]\/`*3*bna1HL5*`D
59B58MD
; *3/my S4 Z*a Y\31b SaaW1/\O
,*bn a,\1 a1`/g1E hb\+m ]\ZqbnE ]\WZ\O
abnp WS \Z\ ]`1/*Z\ \-dD ]`\aSb1
a1+qB w*ab`\1Z WS q /1W*bn b\E hb\
d-\/Z\ \-dE \bab*S,*bn SabSZZdp ,1O
`d S 4*kSk*bn Z*`\/ \-* \b `*4W*-*O
pk1-\ ,WSqZSqHx \WnV\ ]`1/ab*,nb1E
aV\WnV\aY1W\abSZd3Z\+mW\a1Ehb\O
+m ,mabd]Sbn ]`\bS, **fSE V\b\`*q
+mW* , d/1 g*`Sg1yI `q/ WS a`1/S
,*jSf 4Z*V\Ymf 1abn b\bE Vb\ ]\abdO
]*1b V*V **f*E \/Z*V\ , ,*j1y 3S4O
ZS Y\31b ,\4ZSVZdbn aSbd*gSqE , V\b\O
`\y ,*Y Zd3Z\ +d/1b ]\/`*3*bn `,1O
ZSp amD ˙\]dabSYE Vb\Ob\ S4 ,*jSf
:D *V g*`n a* ]\,1W a1+qE V\-/* , 1-\ 41YO
Wp ,b\`-WSan oeS\]mH
;E 5; 5=

`\/ab,1ZZSV\, SWS +WS4VSf /`d41y a\O
-`1jSWE Z1 `*aV*qWaq S 1-\ SaVWphSWS
S4 a\+`*ZSqD d/1b1 WS ,m /1yab,\,*bn
`1jSb1WnZ\H `1V`*bSb1 WS a ZSY \+O
k*bnaqH h1Yd ]\+d/Sb ,*a a1`/g1H
< \/\+Z\ a1E ,m b\31 Y\31b1 ]\O
V*4*bnE hb\ aWd3Sb1 \-d a Z1`*4/1O
W1ZZmY a1`/g1YD \WZ\abnp ]\W*-*yO
b1an Z* Z1-\E V\-/* ab*WVS,*1b1an a
]`\bS,\/1yab,S1YE /*31 1aWS V*31baqE
hb\ 1-\ Z1,\4Y\3Z\ ,m/1`3*bnD*VE Z1O
V\b\`mf /`*4Zqb , jV\W1 4* b\E hb\
\ZS ,S/1b1WS 1-\,mD ˙`d-S1 ab*WO
VS,*pbaq a q4,Sb1WnZmYS Z*aY1jV*O
YS V\WW1- S4O4* b\-\E hb\ +1`db \b]daV
/Wq /df\,Zmf /1W SWS `1/V\ `*+\b*O
pb a,1`fd`\hZ\E d]daV*q ,\4Y\3Z\abn
]\/4*`*+\b*bnD ˚aWS ,*Y 4Z*V\Ym obS
aSbd*gSSE +1`Sb1 ]`SY1` a g*`q am P
Y\WSb1an \-dD `\q,Wqyb1 Yd31ab,\ S
]\W*-*yb1an Z* 1-\,dE b,1`/\ ]`S/1`O
3S,*qan b\-\E hb\ Yd/`\ S ]`*,SWnZ\D
1 4*+m,*yb1E hb\ \- dV`1]SW ad S
]\Y\- 1YdD Z /*ab aSW S ,*YD
= \3nS aWd3Sb1WS /dY*pb Z1 b\WnO
V\ \ a\+ab,1ZZ\Y +W*-\]\WdhSSD *VE
a* ]\//1`3S,*W ]\VW\Z1ZS1 SabSZZ\O
Yd \-dD \/\+Z\ a1E Ym ]\Y\-*1Y
/`d-SY wSaV*bn 1-\,dxD 1a\YZ1ZZ\E
1-\,* \h1Zn `*/E V\-/* Ym `*aaV*4mO
,*1Y \ Z1YE /1W*q ob\E ]\b\Yd hb\ SaO
V`1ZZ1 Wp+SY 1-\ S f\bSYE hb\+m Wp/S
3SWS ,1hZ\D
˚
5> mZ am \a*e*b wf\/SW ]db1Y
a,\1-\\bg*xL61bD6>B75E76MD*VS
1-\ \b1gE \a*e*b ]\+d3/*W Z*`\/ SaO
V*bn 1-\,dD Z \`-*ZS4\,*W jS`\V\O
=D *VE ]`\]\,1/dq /`d-SY Wp/qYE Ym Y\O
31Y ]\V*4*bnE hb\ d Z*a Z1`*4/1W1ZZ\1
a1`/g1H
5>E 55D *V ,m Y\-WS +m +`*bn ]`SY1` a \O
a*e*b*H
Y*ajb*+Zdp V*Y]*ZSpE , f\/1 V\b\O
`\yWp/1y\+dh*WSa]\Y\knpwVZS-S
4*V\Z* 1-\,mx L6 1bD 5;B;P5>MD Z
/*31 \b]`*,SWaq V 3Sb1WqY a1,1`Z\O
-\ g*`ab,* 4`*SWnE , -\`Sabdp Y1abO
Z\abn ˚e`1Y*E hb\+m w,1`Zdbn Sf V 1O
-\,1xL61bD5=B8MD\a*e*b+mWg*`1YE
V\b\`my w,a1Y a1`/g1Y SaV*W 1-\,dx
L6 1bD 66B=MD
55 *3/my S4 Z*a Y\31b dh*ab,\,*bn ,
-`*Z/S\4Z\Y /1W1 \+dh1ZSqE V\b\`mY
1-\,* `dV\,\/Sb a1-\/ZqD b*,Sb1 WS
,m a1+1 g1Wnp V*3/my Y1aqg dhSbn WpO
/1y \3n1Yd W\,dE ab*`*qan 4*b`\Zdbn
Sf a1`/g1 b*VE hb\+m \Z\ ]\+d/SW\ Sf
aWd3Sbn \-dH `SW*-*q daSWSq S ]\O
W*-*qan Z* ]\Y\kn \-*E ,mE aV\`11
,a1-\E aY\31b1 Z*h*bn +S+W1yaV\1 S4dO
h1ZS1D \WSb1an WS ,m \+ ob\YH \b\,m
WS ,m ]`\,\/Sbn S4dh1ZS1 S+WSSE /*O
31 1aWS ]`S/1baq ]\31`b,\,*bn a,\SY
a,\+\/ZmY ,`1Y1Z1YH E +1`q ]`SY1` a
\a*e*b*E V\b\`my \b]`*,SWaq Z* b1`O
`Sb\`Sp ˚e`1Y*E hb\+m ]\Y\hn 3Sb1O
WqY a1,1`Z\-\ g*`ab,* ,1`Zdbnaq V 1O
-\,1E Ym Y\31Y ]`Sf\/Sbn V b1YE Vb\
ab*W Z1*VbS,ZmY , aWd31ZSSD `\Y1
b\-\E ab*`1yjSZm 4*+\bqbaq \ b\YE hb\O
+m Z*,1k*bn 3S,dkSf Z* b1``Sb\`SS
Sf a\+`*ZSq Wp/1yE V\b\`m1 +mWS SaO
VWph1Zm S4 a\+`*ZSqE Z\E ,\4Y\3Z\E
d31 \ab*,SWS -`1jZmy ]dbnD
56 \a*e*bE V*V S 1-\ \b1g a*E \ab*O
,*Waq ]`1/*ZZmY \-dE /*31 V\-/*
Z* d/d a\+S`*W\an Z*]*abn \-`\YZ\1
,`*31aV\1 ,\yaV\D L˛*hSb*y 6 1b\O
]San 6>B6P8DM \bq \a*e*b Sa]d-*WO
aqE \Z w`1jSW SaV*bn 1-\,dxD Z \+`*O
bSWaq V 1-\,1 , Y\WSb,1 S aYS`1ZZ\
]`S4Z*WE hb\ d Z1-\ S 1-\ Z*`\/* wZ1b
56E 57D *M *V ]\,1W a1+q \a*e*bE \V*4*,O
jSan , aW\3Z\y aSbd*gSSH +M \h1Yd Z*YE
]\/\+Z\\a*e*bdE,*3Z\]`S4Z*,*bnEhb\
Z*Y Z1 ,a1 ]\/ aSWdH
6> ˝˚) ")

aSWEhb\+m ]`\bS,\ab\qbn ob\Yd \-`\YO
Z\Yd YZ\31ab,dx S \ZS Z1 4Z*pbE hb\
/1W*bnD \a*e*b ]\WZ\abnp ]\W\3SWaq
Z* 1-\,dE aV*4*,B w*jS -W*4* dab`1YO
W1Zm Z* b1+qx L6 1bD 6>B56MD
57 \`\y Ym b\31 Z1 4Z*1YE hb\
Z*Y /1W*bnE S /*31 Sa]mbm,*1Y ab`*f
L6 \`D 8BB9MD ˚aWS ,m
\b,1bab,1ZZm 4* /df\,Z\1 +W*-\]\WdO
hS1 a,\Sf a1Y1yE ,m Y\31b1E ]\/`*3*q
\a*e*bdE \+`*k*bnaq V 1-\,1 4* a\O
,1b\Y S ]`\aSbnE hb\+m \Z /*W ,*Y
aSW a]`*,Sbnaq a b`d/Z\y aSbd*gS1yD
1 ab1aZqyb1an b\-\E hb\ ,*jS `\/Zm1
daWmj*bE V*V ,m dY\Wq1b1 1-\,d \ ]\O
Y\kSD ZS d,S/qbE hb\ ,m ]\W*-*1b1an
Z* Z1-\D \- \b,1bSW Z* Y\WSb,d \a*O
e*b* P \Z \+q4*b1WnZ\ ]\Y\31b S ,*YD
˚˛˚) ˙˚ E &
58 ˚41VSq +mW S4,1ab1Z V*V g*`nE V\O
b\`my w/1`3*Waq 1-\,mxD \bWShS1
\b \a*e*b*E 1Yd ]`SjW\an ]`\bS,\O
ab\qbn ]W\f\Yd ,WSqZSp a,\1-\ \bg*O
S/\W\]\VW\ZZSV*D ˚41VSq w`*4`djSW
,ma\bmE `*4+SW a,qk1ZZm1 V\W\ZZmE
a`d+SW a,qk1ZZmy ab\W+ S `*4/`\+SW
Y1/Zdp 4Y1pE V\b\`dp a/1W*W \SO
a1yxE b*V V*V S4`*SWnbqZ1 ab*WS ]\VW\O
Zqbnaq 1y V*V S/\WdD ˚41VSq +mW ]\WO
Z\abnp ]`1/*Z 1-\,1 P \Z wZ1 ]1O
`1ab*,*W aW1/\,*bn 4* ZSYE a\+Wp/*q
4*]\,1/SE V\b\`m1 1-\,* /*W \SO
a1px L6 *`D 5DM 1-\,* \bO
,1bSW Z* 1-\ Y\WSb,dE ]\aW*, *Z-1W*E
V\b\`my d+SW 5>> *aaS`Syg1, LaD
7;B7:E 7;MD
5: 1`14 V*V\1Ob\ ,`1Yq ˚41VSq aY1`O
b1WnZ\ 4*+\W1WD Z dY\WqW 1-\,d
,a]\YZSbnE hb\ \Z ,1`Z\ 1Yd aWd3SWD
L˛*hSb*y 6 *`1y 6>B5P7DM \- \b,1O
bSW Z* Y\WSb,d g*`q S Sag1WSW 1-\D /O
Z*V\E a\-W*aZ\ S+WSSE a1-\/Zq Ym Z1
Y\31Y \3S/*bnE hb\ \- hd/\Y Sag1WSb
Z*a SWS ]`\/WSb Z*Y 3S4ZnD ,a1 31E
]\/\+Z\ ˚41VSSE Ym Y\31Y -\,\`Sbn
1-\,1 , Y\WSb,1B w) f\/SW ]1`1/ b\O
+\y , SabSZ1 S a Z1`*4/1W1ZZmY a1`/O
g1YxD ˚aWS ,m a1`n14Z\ 4*+\W1WSE ,1`SO
b1 WS ,m , b\E hb\ 1-\,* Z1]`1Y1ZZ\
]\//1`3Sb ,*aH LaD 85B7MD
5; `SY1` ˚41VSS ]\+d3/*1b Z*a ]\O
/dY*bn \ b\YE Z*aV\WnV\ ,*3Z\ S4+*,O
Wqbnaq \b ,a1-\E hb\ Y1j*1b dV`1]Wqbn
/`d3+d a 1-\,\y SWS \b,W1V*1b \b aWdO
31ZSq 1YdD 14daW\,Z\E Ym Z1 f\bSY
+mbn ]\f\3SYS Z* b1fE Vb\ +\-\b,\`Sb
4Z*Y1ZSb\ab1yE aW1/q , a\gS*WnZmf a1O
bqf 4* Sf 3S4ZnpD \Z1hZ\E V\YdOb\ S4
f`SabS*Z SZb1`Z1b ]\4,\Wq1b \+k*bnaq
aa1Yn1yS+WS4VSYS/`d4nqYSD/Z*V\
YZ\-S1 Wp/S , ob\Y YS`1 ]`\,\/qb , a\O
gS*WnZmf a1bqf V\W\aa*WnZ\1 V\WSh1O
ab,\ ,`1Y1ZSD \/]Sa*,jSan Z* ab`*ZSO
gm 4Z*Y1ZSb\ab1yE \ZS aW1/qb 4* 3S4O
Znp b1fE a V1Y /*31 Z1 4Z*V\YmD WS \ZS
h*a*YS Z*]`\W1b `*aaY*b`S,*pb Sf e\O
b\-`*eSS S hSb*pb \+\ ,a1YE hb\ a ZSYS
]`\Saf\/SbD ˚abn \]*aZ\abnE hb\ f`SO
abS*ZSZ* Y\31b ]\WZ\abnp ]\-W\bSbn
5:E 5;D *V ,m Y\31b1 ]\/`*3*bn ˚41VSSH
6>5; 65

]dab\1 ,`1Yq]`1]`\,\3/1ZS1 , a\gSO
*WnZmf a1bqfD Z Y\31b /*31 Z*h*bn
-\`/Sbnaq b1YE hb\ YZ\-SY Wp/qY ]\O
Z`*,SW*an 1-\ e\b\-`*eSq SWS 4*]SanE
S \+S/1bnaqE d,S/1,E hb\ Vb\Ob\ +\WnO
j1 Z1 ]\/]Sa*Z Z* 1-\ ab`*ZSgdD `1/O
ab*,nb1E hb\ *]\ab\W *,1W SWS VSW* a
`SaVSWW\y 3S,db , Z*j1 ,`1YqD 1O
d31WS \ZS ab*WS +m 131/Z1,Z\ `*4Y1O
k*bn a,\S e\b\-`*eSS , a\gS*WnZmf
a1bqf SWS SZb1`1a\,*bnaq ,a1YE hb\ ]`\O
Saf\/Sb , 3S4ZS V\-\Ob\ S4 Z1f`SabS*ZH
*,W1 -\,\`SbaqE hb\ \Z wa\ ,a1Y
da1`/S1Y ]\a,qbSW a1+q aW\,dxD `SO
aVSWW* a VSW\y b`*bSWS a,\1 ,`1Yq Z*
b\Ehb\+m b\hZ11 \+lqaZqbn /`d-SY ]dbn
\-* L˙1qZD 5E 65D *M b\ +mW\ \+k1-\ d h1bm`1f
g*`1yE ]`SY1` V\b\`mf Ym `*aaY\b`1WSH
+M b\ Ym \+ad/SY , aW1/dpk1y ab*bn1H
66 ˝˚) ")

hSb1an WS ,m
Z* d`\V*f ]`\jW\-\H
wa1 ob\DDD +mW\ 4*]Sa*Z\ V*V ]`1/\ab1`131ZS1 /Wq Z*aE
]`S V\b\`mf ]`Sj1W V\Z1g aSab1Y ,1k1yx L5 D 5>B55MD
˚˙&˚E hb\ ,m S/1b1 ]\ /\`\-1 S ,S/Sb1E V*V h1W\,1V
,]1`1/S ,*a ]\aV*Wn4m,*1baq S ]*/*1bD *,1`ZqV*E ]`\f\/q ,
ob\Y Y1ab1E ,m +d/1b1 V`*yZ1 \ab\`\3ZmD ˚aWS Ym *Z*WS4SO
`d1Y hd3S1 \jS+VSE ob\ ]\Y\31b Z*Y Sf Z1 ]\,b\`qbnD *V\y
]\/f\/ ]`SY1ZSY S , /df\,Zmf ,\]`\a*fD m Y\31Y S4,W1hn
g1ZZm1 d`\VSE `*4YmjWqq Z*/ \jS+V*YS /`d-Sf Wp/1yE , b\Y
hSaW1 b1fE \ V\b\`mf -\,\`Sbaq , S+WSSD
6 1bm`1 Sd/1yaVSf g*`qE ]`SY1`m V\b\`mf Ym `*aaY\b`1O
WS , ]`1/m/dk1y ab*bn1E aWd3SWS 1-\,1 a Z1`*4/1W1ZZmY
a1`/g1YD ,a1 31 \ZS a\,1`j*WS a1`n14Zm1 \jS+VSD 1Yd
Z*a Y\-db Z*dhSbn Sf \jS+VS S hb\ Z*Y ]\Y\31b Sf Z1 ]\,b\O
`qbnH *4YmjWqq Z*/ Sf ]`SY1`\YE Ym aY\31Y ]\h1`]Zdbn
g1ZZm1 YmaWS S4 b\-\E hb\ +mW\ Z*]Sa*Z\ ]`13/1 /Wq Z*j1O
-\ Z*ab*,W1ZSqD L˛*hSb*y SYWqZ*Y 59B8DM
&) ˙& (˙˚•
7 ˙*,*yb1 aZ*h*W* ]\-\,\`SY \+ a1 S ]\/dY*1Y \ b\YE V*V
˚B 55E :5
˚ % )
" ˚•E
DDD
DDDa* S \a*e*bH
DDD˚41VSqH
DDD\aSqH
5E 6D ˙Wq h1-\ Ym `*aaY\b`SY ]`SY1` h1bm`1f Sd/1yaVSf g*`1yH
7P9D *M \bq a1`/g1 am +mW\ ]\WZ\abnp a 1-\,\yE V*Vdp a1O
`n14Zdp \jS+Vd \Z /\]dabSWH +M b\E ,\4Y\3Z\E 4*ab*,SW\ ad ]\O
W\3Sbnaq Z* Wp/1yE V\-/* ]`\bS, d/m ,mabd]SW **a*H
67

W\,\ \-* Y\31b ,WSqbn Z* Z*jd
3S4ZnD \-/* ]`\bS, d/m ,mabd]SW\
YSWWS\ZZ\1 ,\yaV\ oeS\]\,E a* ]\W\O
3SWaq Z* 1-\,dD /Z*V\ \Z ]\abd]SW
]\O/`d-\YdE V\-/* S4`*SWnaVSy g*`n *O
*a* Z*h*W dV`1]Wqbn *YdE -\`\/ Z1/*W1O
V\\b-`*ZSgmd/mL61bD5:B5P7MDa*
`1jSW ]\W\3Sbnaq Z* a,\p Yd/`\abn
S ]\/Vd]SW aS`SyaV\-\ g*`q 1Z*/*/*E
hb\+mb\bZ*]*WZ***adD`*+\b*WWS
ob\b ]W*ZH S+WSS -\,\`SbaqB w\-/*
**a* daWmj*W \+ ob\YE \Z ]1`1ab*W
dV`1]Wqbn *Yd S \ab*Z\,SW `*+\bmx
L6 1bD 5:B9MD b*VE ,a1 aW\3SW\an da]1jO
Z\D \ ob\ WSjn Z* ]1`,my ,4-Wq/D
8 *V1-\,*\bZ1aaqV]\abd]VdamH
\- ]\aW*W V Z1Yd a,\1-\ ]`1/ab*,Sb1Wq
Z*ZSqE V\b\`my \ad/SW 1-\ 4* b\E hb\
\Z Z1 ]\W\3SWaq Z* 1-\,dD L˛*hSb*y
61b\]San 5:B;P=DM Z*ZSy \+lq,SW
1Yd ]`S-\,\` \-*B w1]1`n ]`\bS, b1+q
+d/db ,1abSan ,\yZmxD \bq **a* S \bO
abd]SWE /\ V\Zg* ]`*,W1ZSq am 1-\ Z*O
`\/ ab`*/*W \b Z1aV\Zh*1Ymf ,\yZD
9 *V Ym d,S/1WS S4 ]`1/m/dk1y ab*O
bnSE \- SaaW1/\,*W a1`/g1 am S 4*O
VWphSWE hb\ \Z\ +mW\ ]\WZ\abnp a ZSY
L5 *`D 59B58MD 1-\,* ]\ahSb*WE hb\ , g1O
W\Y ]`1/*ZZ\abn am +mW* -Wd+\V\y S
SaV`1ZZ1yE S ob\ \b,1h*W\ \3nSY b`1O
+\,*ZSqYD 1Y Z1 Y1Z11 g*`p ]`SjW\an
]\3SZ*bn -\`nVS1 ]W\/m a,\1-\ -Wd]\O
-\ ]\abd]V*D \-/* ,\4ZSVW* d-`\4* a\
ab\`\Zm g*`q **amE hb\ 4*ab*,SW\ ad
]\W\3Sbnaq Z1 Z* 1-\,dE * Z* a*Y\-\ a1O
+q S 1Z*/*/*H */1qWaq WS \ZE hb\ /S]O
W\Y*bSh1aV*q S-`* S ,\1ZZ*q b*VbSV*
/*/db WdhjSy `14dWnb*bE h1Y Y\WSb,* V
\-d \ ]\Y\kSH Y\31bE \Z ]`SZqW b*O
V\1 `1j1ZS1E ]\aWdj*,jSan ]W\f\-\ a\O
,1b*H
: ab\`Sq am ]\+d3/*1b Z*a 4*/dO
:D 1Yd Ym dhSYaq Z* ]`SY1`1 amH +lqaO
ZSb1D
Y*bnaq Z*/ b1YE V*V aVW\ZZm ]\abdO
]*bn YmD ˚aWS , Z*j1y 3S4ZS ,\4ZSV*pb
b`d/Z\abSE V\b\`m1 V*3dbaq Z1]`1\/\O
WSYmYSE Ym bdb 31 \+`*k*1Yaq 4* ]\Y\O
knp V 1-\,1D \ V*V Ym ,1/1Y a1+qE
ab*WVS,*qan a Y1Z11 a1`n14ZmYS ]`\O
+W1Y*YSH mb*1Yaq WS Ym `1j*bn Sf
a\+ab,1ZZmYS aSW*YSH WS 31 Ym Sk1Y
+S+W1yaVS1 ]`SZgS]m S aW1/d1Y SYE ]\O
V*4m,*q b1Y a*YmYE hb\ ]\W*-*1Yaq Z*
Yd/`\abn \-*H ˙\]dabSYE ,*jS `\/Zm1
]`\bS, b\-\E hb\+m ,m ]\a1k*WS ,ab`1O
hS a\+`*ZSq SWS V\Z-`1aamD \-/* ]`\O
aSb1 1-\,d ]\/aV*4*bn ,*YE V*V WdhO
j1 ,a1-\ ]\abd]Sbn , ob\y aSbd*gSSD
hb\E1aWS,m]\b1`qWS`*+\bdSZSO
V*V Z1 Y\31b1 Z*ybS /`d-dpH V*31b1
WS ,m Z* a\+1a1/\,*ZSSE hb\ Z1 f\bSb1
]`\]daV*bn ,ab`1hS a\+`*ZSq , +d/ZSH
V*V\y +m b`d/Z\abnp Ym ZS ab\WVZdO
WSanE ,*3Z\ aW1/\,*bn a\,1bd ]a*WY\O
]1,g*B w,1`n a,\y ]dbn 1-\,1E ]\W\O
3San Z* Z1-\E S \Z +d/1b /1yab,\,*bnx
LaD 7;B9MD
˚˙) %
#˚)
; b1]1`n \+ad/SY ]`SY1` amZ* amE
\a*e*b*D Z1-\ +mW\ Z1Y*W\ ]`1V`*aO
Zmf V*h1ab,D \W*-*qan Z* \-*E \a*O
e*b a\,1`jSW YZ\-\ /\+`mf /1WD \ ,a1
31 \Z ]`SZSY*W Z1Yd/`m1 `1j1ZSqD *VE
\Z 4*VWphSW +`*hZmy a\p4 a Z1h1abSO
,mY g*`1Y f*,\YE V\b\`my ]`*,SW ,
a1,1`Z\Y g*`ab,1D \a*e*b a\-W*aSWaq
,Y1ab1 a f*,\Y ,mabd]Sbn ]`\bS, aSO
`Syg1,E f\bq ]`\`\V Sf1y ]`1/\ab1`1-
1-\ \b ob\-\D a`*31ZSS \a*e*b* hdbn
Z1 d+SWSD \aW1 ob\-\ \Z ,1`ZdWaq , 1O
`da*WSY L61bD 5

qkSf 1-\,dHx L˛*hSb*y 6 1b\]San
5=B5P7DM
< 4,W1V WS \a*e*b d`\V S4 ]`\S4\O
j1/j1-\H \bq \Z ]`\/\W3*W `1,Z\abZ\
aWd3Sbn \-dE ]\ ,a1y ,S/SY\abSE \Z ZSO
h1Yd Z1 Z*dhSWaq S4 ob\-\ aWdh*q S Z1
]`SaWdj*Waq V aW\,*Y SdqD \a*e*b
]`SZqW 1k1 \/Z\ Z1Yd/`\1 `1j1ZS1D Z
4*VWphSW a\-W*j1ZS1 a /`d-SY ,`*-\Y
\-* P Z1h1abS,mY g*`1Y f\4S1yE amO
Z\Y f*,*D \a*e*b S f\4Sq ab*WS ,Y1O
ab1 ab`\Sbn V\`*+WSE \/Z*V\ \ZS `*4+SO
WSanE S Sf a\,Y1abZmy ]W*Z ]`\,*WSWaq
L6 1bD 6>B79P7;MD
= `SY1` \a*e*b* /\W31Z ]\+d/Sbn
Z*a ]`\*Z*WS4S`\,*bn a,\p 3S4ZnD g1O
W\Y \a*e*b +mW f\`\jSY g*`1YD Z
/1W*W b\E hb\ ]`*,SWnZ\E S w,a1Y a1`/O
g1Y SaV*W 1-\,dx L6 1bD 66B=MD /Z*V\
\Z Z1 aY\- S4+13*bn ]\aW1/ab,Sy Z1]`*O
,SWnZ\-\ ,m+\`* \+k1ZSqD *V -\,\`SbO
aq , `Sbh*f 57B6>E wVb\ f\/Sb a Yd/`mO
YSE ab*Z1b Yd/`mYE * Vb\ SY11b /1W\ a
-Wd]mYSE ]\ab`*/*1bxD \/Z\y ab\`\O
=D *V Z* Z*a Y\31b ]\,WSqbn Z1]`*,SWnZmy
,m+\` \+k1ZSqH
ZmE Ym /\W3Zm ]\Y\-*bn Wp/qY ]\4Z*O
V\YSbnaq a SabSZ\yD /`d-\y ab\`\O
ZmE Z1Wn4q 4*+m,*bnE hb\E `1jS, \V*4*bn
]\//1`3Vd f*,d P f\bq , ob\Y Z1 +mW\
Z1\+f\/SY\abSEP \a*e*b hdbn Z1 WSO
jSWaq 3S4ZSD \/\+ZmY \+`*4\YE 1aO
WS Ym +14 Z*/\+Z\abS +WS4V\ \+k*1Yaq
a Z1f`SabS*Z*YSE Ym ]\/,1`-*1Y a1+q
`SaVdD
5> *VS1 1k1 d`\VS Ym Y\31Y S4,W1hn
S4 aWdhS,j1-\aq a \a*e*b\YH m,*O
1bE +`*b SWS a1ab`* Z*hSZ*1b ]Sb*bn `\O
Y*ZbSh1aVS1 hd,ab,* V b\YdE Vb\ Z1 WpO
+Sb 1-\,dD Z SWS \Z* Y\31b /dY*bnE
hb\ a`1/S f`SabS*Z Z*ybS ]\/f\/qk1-\
a]dbZSV* 3S4ZS Z1,\4Y\3Z\D Z* V\O
-\Ob\ /*,qb `\/ab,1ZZSVS Z1O,S/1b1O
WSD ZS ]\ab\qZZ\ 4*,\/qb `*4-\,\` \
b\YE hb\ ]\`* ]\/maV*bn a1+1 ]*`dE SZ*O
h1 w]\b\Y ab*Z1b aWSjV\Y ]\4/Z\xD \O
YSY\ ob\-\E Z1V\b\`m1 f`SabS*Z1 `*4O
/1Wqpb hd,ab,* \/Z\y a1ab`mE V\b\O
`*q aV*4*W*B wm a\4/*Zm a aSWnZ\y
5>D *M 1Yd Y\-db Z*dhSbnaq Z* ]`SY1`1
\a*e*b* b1E Vb\ f\h1b ,abd]Sbn , +`*VH
+M h1Y Z*Y aW1/d1b ]\YZSbnH
\YZSb1E V*V \]*aZ\
,]`q-*bnaq , Z1`*,Z\1
q`Y\ a Z1,1`dpkSYS
LY\b`Sb1 *+4*g 5>DM

]\b`1+Z\abnp , Wp+,S S +WS4VSf \bZ\O
j1ZSqfxD b\ 31 b\-/* /1W*bn f`SabS*O
Z*YH a]\YZSY ]`SY1` \a*e*b*D *V
]`*,SW\E \Z SaV*W a\,1b* d \-* L6 1bD
5B

& " ˚"˚) ˙
˛˚"˚%
59 h1Yd Z*a Y\31b Z*dhSbn b\Ehb\ ]`\O
S4\jW\ a f\`\jSY g*`1Y \aS1yH \/dO
Y*1YE V*VS1 a\+mbSq ]`S,1WS V 1-\ -SO
+1WSD L˛*hSb*y 6 1b\]San 79B6>P66DM
\aSq ,mj1W ,\1,*bn a 1f\E g*`1Y
˚-S]b*E f\bq ob\b g*`n aV*4*W \aSSE hb\
ZSh1-\ Z1 SY11b ]`\bS, Z1-\D *V -\,\O
`Sbaq , S+WSSE aW\,* 1f\ wSaf\/SWS S4
dab \-*xD \h1Yd 31 b\-/* \aSq ,abdO
]SW , a`*31ZS1H S+WSS Z1b \b,1b* Z*
ob\b ,\]`\aD
5: \ V*V \aSq Y\- d4Z*bnE hb\ aW\,*
1f\ +mWS \b 1-\,mH *]`SY1`E \Z Y\-
a]`\aSbn \+ ob\Y 1`1YSpE ,1`Z\-\ \O
-d ]`\`\V* L6 1bD 79B67E 69MD /Z*V\ ZSO
-/1 Z1 aV*4*Z\E hb\ \Z b*V ]\abd]SWD `\O
Y1 b\-\E 1f\ j1W , *`f1YSaD Z a\+SO
`*Waq ,\1,*bn wa /`d-SY /\Y\YxE Z1 a
1`da*WSY\YD \aSS b*V31 Z1 b`1+\,*O
W\an ,abd]*bnaq 4* \3n1 SYqE ,1/n ob\b
g*`n Z1 Z*aY1f*Waq ZS Z*/ 1-\,\yE ZS
Z*/ 1-\ Z*`\/\YD \ob\Yd a\ ab\`\Zm
\aSS +mW\ V`*yZ1 Z1Yd/`\ S/bS ,\1O
,*bn ]`\bS, 1f\D *V\y , ob\Y d`\V /Wq
Z*aH ˚aWS Ym \V*4*WSan , b`d/Z\y aSbdO
*gSSE Z*Y ,*3Z\ ab*`*bnaq ]\ZqbnE , h1Y
4*VWph*1baq,\Wq1-\,mD
5; b\WVZd,jSan a ]`\+W1Y\yE Ym /\WO
3Zm ]\/dY*bnE V*VS1 +S+W1yaVS1 ]`SZO
gS]m V Z1y \bZ\aqbaqE S ]`SZqbn ,4,1O
j1ZZ\1 `1j1ZS1D Z1V\b\`mf aWdh*qf
ab\Sb ]\a\,1b\,*bnaq a\ ab*`1yjSZ*YSD
\4Y\3Z\E Ym d31 `*aaY\b`1WS aSbd*O
gSp a `*4Zmf ab\`\Z S /*31 ]`\,1WS SaO
aW1/\,*ZS1D /Z*V\ Ym Y\-WS Z1 dh1abn
V*VS1Ob\ +S+W1yaVS1 ]`SZgS]mE Z*/ V\O
b\`mYS ab*`1yjSZm ]\Y\-db Z*Y ]\`*4O
YmjWqbnD *aaY\b`SY ]`SY1`D 1ab`*
f\`\j\ 4Z*1b \ a,\1y \+q4*ZZ\abS ]`\O
59E 5:D \h1Yd \aSq WSjSWaq 4*kSbm \-*
S]\b1`qW3S4ZnH
5;D b\ ]\Y\31b Z*Y Z1 ]\,b\`Sbn \jS+VS
\aSSH
]\,1/\,*bn +W*-dp ,1abn L˙1qZD 8B6>MD
Z* 4*]W*ZS`\,*W* ]\ybS , aWd31ZS1 ,
\]`1/1W1ZZmy /1ZnE Z\ 11 Yd3 Z1O,S/1O
b1Wn ]`\aSbE hb\+m \Z* \ab*W*an /\Y*D
Z-\,\`SbEhb\\ZS`1/V\+m,*pb,Y1O
ab1E S f\h1b ]`\,1abS a Z1y ,`1YqD 1O
ab`*E ,\4Y\3Z\E /dY*1b Z*/ ]\/f\/qkSO
YS +S+W1yaVSYS abSf*YSE , V\b\`mf -\O
,\`SbaqE Z*]`SY1`E \ ]\aWdj*ZSS \-d S
\ ]\,1W1ZSS ]\/-\b*,WS,*bn dh1ZSV\,
L*beD 6C ˙1qZD 9B6=MD \ 1y b*VO
31Zd3Z\]\/dY*bn\b\YEhb\,*3Z\]\/O
hSZqbnaq Yd3d S ]`\q,Wqbn +W*-\`*4dO
YS1L'eD9B66P68CW]D8B9MDZ*Y\31b
4*/*bn a1+1 ,\]`\aB wd3 ]`\bS, b\-\E
hb\+m q ,\\+k1 ]`\]\,1/\,*W*E SWS 31
\Z ]`\aSb Y1Zq ]\Y1Zqbn ]W*Zm SY1ZZ\
, ob\b /1ZnHx ˝1W*q Sa]\WZqbn ,\Wp \O
-* S SY1bn hSabdp a\,1abnE Ym /\W3Zm
,a1 bk*b1WnZ\ \+/dYm,*bnE hb\+m ]`SO
ZSY*bn Yd/`m1 `1j1ZSqD
˙ ˝˚
˚˛˙˚˚% ˚˙˚
5< m Z1a\,1`j1ZZm S ]\`\y /1W*1Y
\jS+VS P b1 31E hb\ /\]dabSWS h1bm`1
g*`qE \ V\b\`mf jW* `1hn , ob\y ab*bn1D
m Y\31YB 5M Z1 ]\/dY*, ]\W\3Sbnaq Z*
a1+q SWS /`d-Sf Wp/1yE 6M Z1]`*,SWnZ\
,m+`*bn V`d- \+k1ZSqE 7M ,\4-\`/Sbnaq
SWS 8M ]`SZqbn `1j1ZS1E Z1 d4Z*, aZ*h*O
W*E , h1Y a\ab\Sb ,\Wq \-*D *V 31 ]`1O
V`*aZ\E hb\ 1-\,* ,S/Sb , Z*a f\`\O
j11 P b\hZ\ b*V 31E V*V \Z ,S/1W f\`\j11
, b1f h1bm`1f g*`qfI `\Y1 b\-\E 1-\,*
4Z*1bE V*V aSWnZ\ Ym 1-\ Wp+SY S f\bSY
aWd3Sbn 1YdE ]`SW*-*q ,a1 a,\S ab*`*ZSqD
\ob\Yd \Z ]\4*+\bSWaq \ b\YE hb\+m ,
S+WSS +mWS 4*]Sa*Zm ]`1/\ab1`1-*pO
kS1 ]`SY1`mE V\b\`m1 ]\Y\-WS +m Z*Y
S4+13*bn a1`n14Zmf \jS+\VD ˙*,*yb1 31
`*4YmjWqbn Z*/ obSYS ]`SY1`*YS S +W*O
-\/*`Sbn 4* ZSf 1-\,dI
55; 6;

˚aWS /`d3+*
,\]*aZ\abS
˙`d3+* ˙3*ZZS S *d`SgS\
/WSbaq d31 ]\W,1V*D \ +mW\
,`1YqE V\-/* Sf /`d3+1 hdbn +mO
W\ Z1 ]`Sj1W V\Z1gD *d`SgS\
,a]\YSZ*1bB w Y\1y 3S4ZS +mW
Z1]`\ab\y ]1`S\/E V\-/* q a\,1`O
jSW Z1aV\WnV\ a1`n14Zmf \jSO
+\VD 4O4* ob\-\ Ym \b/*WSWSan
/`d- \b /`d-*xD ˙3*ZZS /\+*,O
Wq1bB w*d`SgS\ S4dh*W a\ YZ\y
S+WSpD Z ab*W /Wq Y1Zq /df\,O
ZmY Z*ab*,ZSV\YD \ob\Yd b\E
hb\ \Z a/1W*WE Z1 dVW*/m,*W\an
dY1Zq,-\W\,1D\-/*q]\ZqWE
hb\ b1]1`n Ym Z1 Y\31Y +mbn
/`d4nqYSE ,Zdb`S Y1Zq hb\Ob\
\+\`,*W\anD ) ]\hd,ab,\,*WE
+d/b\ \Z Y1Zq ]`1/*WxD
˚) /`d3+* P Z*ab\qk11 a\V`\,Sk1E
\Z* Z1 4*`\3/*1baq aWdh*yZ\D ˚aWS /`d3O
+* ]\/ d-`\4\yE V*V Y\3Z\ 11 a\f`*ZSbnH
*Y Y\31b ]\Y\hn S+WSqD 4 Z11 Y\3Z\
d4Z*bn \ b\YE V*V ]\abd]*WS ,1`Zm1 /`d4nqE
V\-/*Sf/`d3+*\V*4m,*W*an,\]*aZ\abSD
˙ ˙ ˚)
˙*,S/*,a1-/*+mWS,1`Zm1/`d4nqPS
V\-/* \Z +mW ]*abdf\YE S V\-/* ab*W g*`1YD
\4Y\3Z\E ,m a`*4d ]\/dY*WS \+ \Z*e*O
Z1 L5 *YD 5

,*Waq ]`1/*ZZmY 1-\,1 S ]\abd]*W a]`*O
,1/WS,\D bdb \Z a\,1`j*1b bq31Wmy -`1fD
b\ 31 aWdhSW\an a obSY f\`\jSY g*`1YH
1d31WS \Z Z1 ]\ZSY*WE Z*aV\WnV\ ,a1 a1O
`n14Z\H WS \Z /dY*WE hb\ 1Yd d/*abaq
aV`mbn a,\y -`1f \b \-*H
*V ]\abd]Sb *e*ZH \Z*/11baq WS \Z
Z* b\E hb\ a g*`1Y ]\-\,\`Sb Vb\Ob\ /`d-\yH
1/n Z1 \Z \/SZ 4Z*WE hb\ ˙*,S/ +mW ,SZ\O
,1Z , d+Syab,1 `SSD *V ab\Sb WS *e*O
Zd ,Y1jS,*bnaq S `SaV\,*bn a,\1y /*,Z1y
/`d3+\y a g*`1YH `\Y1 b\-\E 1aWS \Z \bO
V`mb\ a ZSY ]\-\,\`SbE ob\ Y\31b ab\Sbn
1Yd 3S4ZSD V\Zg1 V\Zg\,E ]\ ]`SV*4d ˙*O
,S/* d31 +mW d+Sb ZS , h1Y Z1 ]\,SZZmy
h1W\,1VD
/Z*V\ *e*Z +mW \3nSY ]`1/ab*,SO
b1W1YD Z 4Z*WE hb\E 1aWS ]`\Y\WhSbE Sf
/`d3+* a ˙*,S/\Y d31 ZSV\-/* Z1 +d/1b
]`13Z1yE * 1-\ a*Y\-\ +d/1b YdhSbn a\O
,1abnD ˙*,S/ j1W \]*aZmY ]db1YE ,m4m,*q
obSYZ1\/\+`1ZS1\-*Dd3Z\+mW\a`\hO
Z\ ]\Y\hn g*`p ,1`Zdbnaq V 1-\,1D a/1O
W*bnob\Y\-]`1/*ZZmy/`d-Eb*V\yV*V*O
e*ZD ,\y `*4-\,\` a ˙*,S/\Y \Z Z*h*W a
]`SY1`*E V\b\`my Y\- 4*b`\Zdbn a1`/g1
+m,j1-\ ]*abdf*D *e*Z ]1`1/*W ˙*,S/d
,1abn\b\-*EZ\b*VEhb\g*`n\a\4Z*WEZ*O
aV\WnV\ a1`n141Z 1-\ -`1fE S ob\ ]\+d/SW\
1-\ `*aV*qbnaq L6 *YD 56B5P58MD
˙\]dabSYE ,m d4Z*WSE hb\ ,*j /`d- a1O
`n14Z\ \abd]SWaq SWS a\,1`jSW bq31Wmy
-`1fD *Y Y\31b V*4*bnaqE hb\E 1aWS ,m 1-\
\+WShSb1E ,*j1y /`d3+1 V\Z1gD WS hb\ ,m
]\abd]Sb1 V*V ]`1/*b1WnE 1aWS a\\+kSb1
\+\ ,a1Y ab*`1yjSZ*YE V\b\`m1 Y\-WS +m
]\Y\hn 1Yd /df\,Z\D b\ ,m a/1W*1b1 ,
ob\y aSbd*gSSH
\b hb\ `*aaV*4m,*1b ˙3*ZZSE \ V\b\`\Y
-\,\`SW\an ,mj1B w) ]\ZqWE hb\ a *d`SO
gS\ hb\Ob\ ]`\S4\jW\D Z d31 Z1 \+k*Waq
a\ YZ\y b*V 31 \bV`mb\E V*V `*Znj1D ) `1O
jSW a ZSY ]\-\,\`SbnE f\bq /Wq Y1Zq ob\
+mW\ h`14,mh*yZ\ b`d/Z\D ) `*4YmjWqWB
tZ S b*V ,a1 4Z*1bD b\ Z\,\-\ q Y\-d 1Yd
aV*4*bnH ˚-\ `1*VgSq Y\31b +mbn +d`Z\yrD
\ q ab*W ,a]\YSZ*bn ,a1E hb\ Ym ,Y1ab1 a
ZSY S4dh*WSE S ob\ ]`S/*W\ YZ1 `1jSY\abS
]\/\ybS V Z1Yd S ]\-\,\`SbnD *d`SgS\
,a1-/* b*V ]\abd]*WE V\-/* YZ1 b`1+\,*O
W*an ]\Y\knD Z1 Z1 f\b1W\an b1`qbn /`dO
-*E Z\ q b`1,\3SWaq 4* Z1-\E ]\ob\Yd /\WO
31Z +mW 1Yd ]\Y\hnxD
*d`SgS\ -\,\`SbB w˙3*ZZS \bV`\,1ZZ\
a\ YZ\y ]\-\,\`SW P S ]`*,SWnZ\ a/1W*WD
) ]\ZqWE hb\ ZS \ZE ZS 1-\,* Z1 +mWS ,SO
Z\,*bm , b\YE hb\ q ab\WVZdWaq a ]\aW1/abO
,SqYS a,\Sf ]\abd]V\,D ) ]`SZqW a\,1bE V\O
b\`my YZ1 /*WS ab*`1yjSZmE S a\ ,`1Y1O
Z1Y ,Z\,n /df\,Z\ \V`1]xD
˙ ˙ ˚˙˚
˙*,S/ +WS4V\ \+k*Waq S a /`d-SYS Wp/nO
YSE V\b\`m1 \ab*,*WSan ,1`ZmYS 1Yd , SaO
]mb*ZSqfD /ZSY S4 ZSf +mW daSy P w/`d-
˙*,S/*xE V*V \ Z1Y -\,\`Sbaq , S+WSS
L6 *YD 5:B5:C 5 1bD 6;B77MD 1`\qbZ\E daSy
+mW ]`S/,\`ZmY g*`qE 1-\ /`d-\YE V\b\`\O
Yd b\b SZ\-/* /*,*W a1V`1bZm1 ]\`dh1ZSqD
\-/* amZ ˙*,S/*E ,1aa*W\YE 4*f,*bSW
]`1ab\WE YZ\-S1 S4`*SWnbqZ1 ab*WS Z* ab\O
`\Zd ob\-\ Yqb13ZSV*E Z\ daSy \ab*Waq a
g*`1YD ˙*,S/d ]`SjW\an +13*bnE S daSy
]\aW1/\,*W 4* ZSYD `1/*b1Wnab,\ amZ* S
b1fE V\Yd \Z /\,1`qWE ]`ShSZSW\ ˙*,S/d
Z1,m`*4SYdp +\WnD /Z*V\ ,1`Zmy daSy
+mW -\b\, ]\/,1`-Zdbn a,\p 3S4Zn \]*aO
Z\abS S \adk1ab,Sbn ]W*ZE g1Wnp V\b\`\-\
+mW\ `*4`djSbn 4*-\,\`D Z ]\j1W Z* ob\
Z1 S4 hd,ab,* /\W-*E * ]\b\YdE hb\ +mW g*O
`p ,1`ZmY /`d-\Y L6 *YD 59B57P5;E 76P7;C
5:B59P5;B5:MD
*V b`\-*b1WnZ\ ,S/1bnE hb\ d4mE V\b\O
`m1 \+l1/SZqpb +`*bn1, S a1ab1`EP ob\
-\`*4/\ +\Wnj1E h1Y ]`\ab\ hd,ab,\ f`SO
abS*ZaV\-\ /\W-*I ,\SYS /1W*YS \ZSE ]\
adbSE -\,\`qbB w) f\hd +mbn b1+1 /`d-\Y
Z1 ]\b\YdE hb\ ob\ \3S/*1baq \b f`SabS*ZE
* ]\b\YdE hb\ bm Z* a*Y\Y /1W1 YZ1 /\`\-xD
6>5; 6=

\-/* 1/1`SV\ ]\]*W , +1/dE
1-\ /`d- Zb\ZS\ ,maWdjS,*W
S]\//1`3S,*W1-\
`*b ]\ SY1ZS 1/1`SV\ Sa]mb*W ob\ Z*
a1+1D W*-\/*`q ]\//1`3V1 a,\1-\ +WS4V\O
-\ /`d-* Zb\ZS\ \Z aY\- ]`1\/\W1bn h1`O
Zdp ]\W\ad , a,\1y 3S4ZSD 1/1`SV\ ,a]\O
YSZ*1bB wZb\ZS\ ]1`1j1W V Z*Y S4 /`d-\O
-\ a\+`*ZSqE S ,aV\`1 Ym ]\/`d3SWSanD
m \+* +mWS aWd31+ZmYS ]\Y\kZSV*YSE
S Z*Y Z`*,SW\an ,Y1ab1 aWd3Sbn , a\+`*O
ZSSD 1V\b\`\1 ,`1Yq a]dabq 1-\ Z*4Z*hSO
WS ab*`1yjSZ\yD Zb\ZS\ +mW YZ1 Z1 b\WnO
V\ /`d-\YE Z\ S ]`SY1`\Y , /df\,Z\Y \bZ\O
j1ZSSxD \ \/Z*3/m 1/1`SV\ \abd]SWaqD
\bq \Z bdb 31 \+`*bSWaq V ab*`1yjSZ*Y 4*
]\Y\knpE aWd3Sbn ]S\Z1`\Y S aWd31+ZmY
]\Y\kZSV\Y \Z d31 Z1 Y\-D *V ]\,1W a1+q
Zb\ZS\H
1/1`SV\ /1WSbaqB w) ,S/1WE hb\ Zb\O
ZS\ \h1Zn ]1`13S,*1b 4* Y1ZqD Z b*V ab*O
`*WaqY1Zq]\//1`3*bnDZ,a1-/*+mW`qO
/\Y S \h1Zn f\b1WE hb\+m q /df\,Z\ \V`1]D
Z ]\+d3/*W Y1Zq Z1 a/*,*bnaq S S/bS
,]1`1/xD P w) ab*W ]`\,\/Sbn a 1/1`SO
V\ +\Wnj1 ,`1Y1ZSEP `*aaV*4m,*1b Zb\O
ZS\DP Z1 f\b1W\anE hb\+m \Z Y\- \bV`mb\
/1WSbnaq a\ YZ\y ,a1YE hb\ d Z1-\ Z* a1`/O
g1E S /*31 a,\1y +\WnpxD ah*abnpE a\
,`1Y1Z1Y 1/1`SV\ ,\aab*Z\,SW a,\S \bO
Z\j1ZSq a \-\YE S 1-\ ,Z\,n Z*4Z*hSWS
]S\Z1`\Y S aWd31+ZmY ]\Y\kZSV\YD ZO
b\ZS\ -\,\`SbB w1yh*a Ym aWd3SY , `*4O
Zmf a\+`*ZSqfE Z\ Z*j* /`d3+* ab*W* 1k1
V`1]h1xD
˚ % ˚˙˚&H
b\ +m ,m ]\hd,ab,\,*WSE 1aWS +m +WS4O
VSy /`d- \b,1`ZdWaq \b ,*aE V\-/* ,m +\WnO
j1 ,a1-\ Zd3/*WSan , 1-\ ]\//1`3V1H *O
W\ hb\ `*ZSb b*V aSWnZ\E V*V ]`1/*b1WnO
ab,\D Y\-WS +m ,m ]`\abSbn a,\1-\ /`d-*
S a\f`*ZSbn V Z1Yd b1]Wm1 hd,ab,*H
\/dY*yb1 \ b\YE hb\ aWdhSW\an a SadO
a\Y `Sab\Y Z14*/\W-\ /\ 1-\ aY1`bSD Z
YZ\-\ ,`1Y1ZS \+k*Waq a\ a,\SYS ,1`ZmO
YS *]\ab\W*YSE S Sf a,q4m,*W* V`1]V*q
/`d3+*D Sada ]\ ]`*,d Y\- Z*4,*bn Sf
/`d4nqYS L\*ZD 59B59MD \ hb\ ]`\S4\jO
W\E V\-/* 1-\ *`1ab\,*WSH ]\ab\Wm 1-\
\ab*,SWSD \bq 1b` 4*q,WqWE hb\ ZSV\-/*
7> ˝˚) ")

Z1 ]`1/*ab a,\1-\ \a]\/SZ*E , bd 31 a*O
Ydp Z\hn \Z \b`1Vaq \b Sada* L*beD
6:B75P77E 9:E :=P;9MD
Sada4Z*WEhb\,\,`1Yq]\aW1/Z1-\SaO
]mb*ZSq \ab*Z1baq a\,a1Y \/SZD ,a1 31
1Yd +mW\ \h1Zn -\`nV\E \Z Sa]mbm,*W /dO
j1,Zdp +\WnD /Z*V\ b\E V*V \Z `*4-\,*`SO
,*W a\ a,\SYS dh1ZSV*YS a]dabq Z1aV\WnV\
/Z1y ]\aW1 ,\aV`1a1ZSqE ]\V*4*W\E hb\ ,
1-\ a1`/g1 Z1 +mW\ S aW1/* \+S/mE -\`1hS
S `*4\h*`\,*ZSqD Sada Z1 31W*W ]\/ahSO
bm,*bn ]`\Y*fS a,\Sf dh1ZSV\,E * b*V31
]\YZSbn \+ Sf ]`1/*b1Wnab,1D
Sada 4*,1`SW 1b`* S /`d-Sf *]\ab\W\,
, b\YE hb\ ]\O]`13Z1Yd SY /\,1`q1bD Z ]\O
`dhSW SY dh*ab,\,*bn , a*Y\y -`*Z/S\4Z\y
, Sab\`SS ]`\a,1bSb1WnZ\y `*+\b1 S \+lO
qaZSWE V*V 11 ,m]\WZqbnD Sada ]`\/\W3*W
\bZ\aSbnaq V *]\ab\W*Y V*V V a,\SY /`dO
4nqYD ˚-\ Wp+\,n \ab*,SW* , Sf a1`/g1
Z1S4-W*/SYmy aW1/D ]\ab\Wm ab*`*WSan
+\Wnj1 ZSV\-/* Z1 ]\/,\/Sbn a,\1-\ \aO
]\/SZ*D d ZSf ob\ ]\WdhSW\anD ZS daO
]1jZ\ ,m]\WZSWS 4*/*ZS1E V\b\`\1 \Z ]\O
`dhSW a,\SY ]\aW1/\,*b1WqY L˙1qZD 5B

S+W1yaV\1 SYq
Z* /`1,Z1Y Vd,jSZ1
Courtesy of Khirbet Qeiyafa excavation expedition, Hebrew University of Jerusalem - Photo: Tal Rogovski
6>56 -\/d , f\/1 `*aV\]\V +mWS \+Z*`d31O
Zm h1`1]VS -WSZqZ\-\ Vd,jSZ*E S4-\b\,W1ZZ\-\
\V\W\ 7 >>> W1b Z*4*/D 'b* Z*f\/V* ]`S,W1VW*
,ZSY*ZS1 dh1ZmfD b\ 31 , Z1y +mW\ \a\+1ZZ\O
-\H h1Zmf 4*SZb1`1a\,*WS Z1 a*YS h1`1]VSE
*b\Ehb\Z*ZSf+mW\Z*]Sa*Z\D
\+`*, Vd,jSZ S4 \aV\WV\,E *`f1\W\-S \+Z*O
`d3SWS Z* Z1Y Z*/]San Z* \/Z\Y S4 q4mV\, /`1,O
Z1-\ *Z**Z*B w˚j+**W 1Z 1/* amZ 1/mxD
'b\ ]1`,my aWdh*yE V\-/* *`f1\W\-S ,ab`1bSWS
/*ZZ\1 SYq , /`1,Z1y Z*/]SaSD
Zb1`1aZ\E hb\ SYq ˚j+**WE SWS ˚j,**WE d]\O
YSZ*1baq , S+WSSD*V 4,*WS \/Z\-\ S4 amZ\,1y
g*`q *dW* L5 1bD MD \h1YdH wh1,S/Z\E ,\ II *YdSW*
SYq ˚j+**W Z1 Sa]\Wn4d1baq ]\b\YdE hb\ \Z\ Z*O
]\YSZ*1b SYq f*Z**ZaV\-\ +\-* /\3/q S +d`S
**W*EP \+lqaZqpb dh1Zm1EP Z\ , ZS-1 *`*O
WS]\Y1Z\Z 1b\]San \Z\ a\f`*ZSW\anxD
s
1a]W*bZ\
n
o
aV*h*yb1
ob\b 3d`Z*W S /`d-S1
]d+WSV*gSS
p
m b*V31 Y\31b1
hSb*bn w1`1,\/
Z\,\-\ YS`*x \ZW*yZ
˛*y/Sb1 Z* a*yb
www.jw.org/ru SWS
\baV*ZS`dyb1 V\/
w17.03-U
161116