.":+6/ "" 23
"OUIPOZ #BMTBNP
=HPAN NKKGA =J@ OOK?E=PAO
3fZa
k 4S^eS_a [e SiSdVWV fZW $"#) @Sf[aS^ 7_WdY[
Y 3dUZ[fWUf
Bd[lW [dWUaY
[f[aaX Z[e eignificS
f Uafd[Tgf[a
fa fZW bdaXWee[a fZdagYZ VWe[Y
WjUW^^WUW WVgUSf[a
SV [
Vgefdk ^WSVWdeZ[b
4S^eSa YdSVgSfWV Xda fZW G[hWde[fk aX 3VW^S[VW i[fZ 8[def 5^See :a
agde [$""% S
V Ua__WUWV iad] Sf IS^fWd 4daa]W S
V3eeaU[SfWe 4S^eS_a ZSe iad]WV aS dS
YW aX bd[hSfW SV bgT^[U bda\WUfe fZSf ZShW TWW
SiSdVWV Sf efSfW SV
Sf[aS^ ^WhW^ Tk fZW 3gefdS^[S ;
ef[fgfW aX 3dUZ[fWUfe 3e SSeeaU[SfW V[dWUfad Sf IS^fWd 4daa]W S
V 3eeaU[SfWe 4S^eS_a [e dWUaY[lWV Xad Z[e V[hWdeW dS
YW
aX e][^^e SV bSee[a
SfW bgdeg[f aXcgS^[fk SdUZ[fWUfgdS^ agfUa_We
;$""& 4S^eS_a UaWefST^[eZWV fZW @Wi 3dUZ[fWUfe 9dagb fa bdah[VW egbbadf fa kag
Y bdaXWee[aS^e FZ[e iSe egTeWcgW
f^k Xad_S^[lWV Tk eS^^Wd Ydagbe Sf[a
S^^k Xad[Y iZSf [e
ai 7_39@ 7_WdY[Y 3dUZ[fWUfe S
V 9dSVgSfWe @Wfiad]
4S^eS_a iWf a
fa TWUa_W fZW Sf[a
S^ bdWe[VWf aX 7_39@ S
V ZSe _aef dWUWf^k eWdhWV Se S Uag
U[^^ad Xad fZW ;ef[fgfW»e EagfZ 3gefdS^[S
5ZSbfWd 4S^eS_a iSe S UaUdWSf[hW V[dWUfad aX fZW 8Wef[hS^
aX 3dUZ[fWUfgdW SV 6We[Y
:W [e S UgddWf TaSdV _W_TWd aX 3dfEW_T^k S
V fZW UdWSfad aX 6We[Y8Wef[hS^ [
SeeaU[Sf[ai[fZ fZW 3VW^S[VW 5[fk 5ag
U[^ FZWeW Uafd[Tgf[a
e ZShW TWWTS^S
UWV i[fZ VWe[YfWSUZ[
Y
Sf fZW G[hWde[fk aX 3VW^S[VW 4S^eS_a [e hWdk VWeWdh[
Y aX fZW @Sf[aS^ 7_WdY[
Y
3dUZ[fWUf Bd[lW :[e iad] Z[YZ^[YZfe fZW Uafd[Tgf[a
fZSf [V[h[VgS^e _S]W i[fZ[
^SdYWd bdSUf[UWe SV SUdaee _S
k dWS^_e SV ZW ZSe Vefined himsW^X Se S UgddW
f SV XgfgdW ^WSVWd i[fZ[
fZW [`Vgefdk
$BUIFSJOF #BVEFU
ANNEAN =Q@AP N?DEPA?PO
5SfZWd[`W 4SgVWf ZSe VW_a`efdSfWV agfefS`V[`Y ^WSVWdeZ[b egbbadf[`Y
ia_W` [` fZW bdaXWee[a` aX SdUZ[fWUfgdW Xad _adW fZS` fZ[dfk kWSde
;` #+*% 4SgVWf UaXag`VWV Ia_W` [` 3dUZ[fWUfgdW
CgWW`e^S`V I;3 S`V eWdhWV Se [fe bdWe[VW`f Xad S `g_TWd aX kWSde
;` #+*& I;3 ZW^d its firef WjZ[T[f[a` aX fZW iad] aX ia_W` SdUZ[fWUfe
[` CgWW`e^S`V FZW WjZ[T[f[a` Z[YZ^[YZfWV S`V bda_afWV fZW iad]
aX Xadfk ia_W` SdUZ[fWUfe
3e S Z[YZ^k dWYSdVWV SdUZ[fWUf [` CgWW`e^S`V 4SgVWf
ZSe Ua`f[`gage^k SVhaUSfWV Xad ia_W` SdUZ[fWUfe S`V fZdagYZ ZWd
_W_TWdeZ[b aX ]Wk Ua__[ffWWe SffZW 3gefdS^[S` ;`ef[fgfW aX 3dUZ[fWUfe
eZW ZSe TWW` [`efdg_W`fS^ [` VWhW^ab[`Y dW^SfWV ba^[Uk dWUa__W`VSf[a`e
Xad fZW SdUZ[fWUfgdW Tg[^V[`Y S`V Ua`efdgction fie^Ve 4SgVWf TdagYZf S
`Wi ^WhW^ aX W`WdYWf[U XaUge fa YW`VWd Wcg[fk [eegWe Sf fZW ;`ef[fgfW iZW`
eZW TWUame the firef ia_S` SdUZ[fWUf fa TW W^WUfWV fa fZW CgWW`e^S`V
5ZSbfWd 5ag`U[^ [` #+*+
@afST^k 4SgVWf ias the firef bWdea` fa [`ha^hW
BSg^S IZ[f_S` [` fZW TdaSVWd [eegWe XSU[`Y ia_W` iad][`Y [` fZW
SdUZ[fWUfgdS^ bdaXWee[a` 4SgVWf [`eb[dWV IZ[f_S` fa bgdegW S bSfZ
aX [`hWef[YSf[hW dWeWSdUZ fZSf egTeWcgW`f^k ^WV fa fZW ^S`V_Sd] $""'
efgVk:b\aZ c_TVXf- G[X 6TeXXe CebZeXff\ba bY Jb`Xa \a 4eV[\gXVgheX!
4SgVWf iSe S _W`fad Xad fZW VgdSf[a` aX fZ[e efgVk S`V Ua`f[`gWV fa
egbbadf IZ[f_S` fZdagYZagf ZWd USdWWd
4SgVWf ZSe W`WdYWf[US^^k iad]WV Xad fZW SVhS`UW_W`f
aX YW`VWd Wcg[fk fZdagYZ ZWd SdUZ[fWUfgdS^ bdSUf[UW 8Wdd[Wd 4SgVWf
3dUZ[fWUfe :Wd YW`Wdae[fk ZSe WjfW`VWV iW^^ TWka`V bdSUf[UW fa
fZWUa`efdgUf[a` [`Vgefdk S`V fZW TdaSVWd Ua__g`[fk
FZW egTefS`f[S^ bdaYdWee fZSf ZSe TWW` SUZ[WhWV i[fZ
dWYSdV fa YW`VWd Wcg[fk [` fZW bdaXWee[a` [` dWUW`f kWSde US` TW fdSUWV
TSU] fa fZW Xag`VSf[a`e VWhW^abWV Tk TafZ 4SgVWf S`V BSg^S IZ[f_S`
4SgVWf [e S` WjUWbf[a`S^ da^W _aVW^ S`V _W`fad Xad _S`k kag`Y S`V
W_WdY[`Y SdUZ[fWUfe S`V eZW [e S _aef iadfZk dWU[b[W`f aX fZW [`SgYgdS^
BSg^S IZ[f_S` >WSVWdeZ[b [` 9W`VWd 7cg[fk Bd[lW
/BUJPOBM &NFSHJOH
"SDIJUFDU 1SJ[F
1BVMB8IJUNBO-FBEFSTIJQJO
(FOEFS&RVJUZ1SJ[F
+VSZ
KJHAIAJPOƏD=ENƐƅIIA@E=PA=OP
NAOE@AJPżQOPN=HE=JJOPEPQPAKBN?DEPA?POƍ
ENA?PKNż=?GOKJHAIAJPOQNNKSO
AA
EHH=Iƅ=PEKJ=H AJ@ANMQEPU
KIIEPPAAD=EN
=HAH=?GƅkijoNAOE@AJP
OAJE=KPKAR=ƅkijoI NAOE@AJP
1IPUPHSBQIZ+FTTJDB$MBSL
+VSZ
AJ=DANƏD=ENƐƅNAOE@AJPżQOPN=HE=J
JOPEPQPAKBN?DEPA?POƍAHHKSż
=OOAHH
OAJE=KPKAR=ƅkijoI NAOE@AJP
IUQENƅkijo=PEKJ=HIANCEJCN?DEPA?P
NEVASEJJANƍENA?PKNżQENN?DEPA?PQNA
Q?U
KSAHHOƅ=NGAPEJCż=NPJANODELO
=J@RAJPOKKN@EJ=PKNż