Gasol Edison Report Sept 20091. lìíäççâ
=
PM=pÉéíÉãÄÉê=OMMV=
mêáÅÉ= OKVé
d~ëçä= j~êâÉí=`~é= ¡POã
vÉ~ê== oÉîÉåìÉ= m_qG= bmpG= amp= mLb= váÉäÇ== = =
båÇ= E¡ãF= E¡ãF= EéF= EéF= EñF= EBF= pÜ~êÉ=éêáÅÉ=Öê~éÜ=
MOLMU= MKM= EMKQF= EMKNF= MKM= kL^= kL^= =
MPLMV= MKM= ERKNF= EMKTF= MKM= kL^= kL^=
MPLNMÉ= MKM= ERKPF= EMKRF= MKM= kL^= kL^=
kçíÉW=G=m_q=~åÇ=bmp=~êÉ=åçêã~äáëÉÇI=ÉñÅäìÇáåÖ=ÖççÇïáää=~ãçêíáë~íáçå=~åÇ=ÉñÅÉéíáçå~ä=áíÉãëK=
fåîÉëíãÉåí=ëìãã~êóW=pã~ääI=äçïJÅçëí=ikd=
d~ëçä=áë=ÑçÅìëÉÇ=çå=ãçåÉíáë~íáçå=çÑ=ëíê~åÇÉÇ=Ö~ë=áå=tÉëí=^ÑêáÅ~=íÜêçìÖÜ=íÜÉ=
pÜ~êÉ=ÇÉí~áäë= =
~ÖÖêÉÖ~íáçå=~åÇ=ÇÉîÉäçéãÉåí=çÑ=ëã~ää=ëÅ~äÉ=Ö~ë=êÉëÉêîÉë=çîÉêäççâÉÇ=Äó=ã~àçêëK=qÜÉ=
`çÇÉ= d^p=
ã~áå=ÑçÅìë=áë=çå=íïç=éêçàÉÅíë=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~I=ïÜáÅÜ=~êÉ= iáëíáåÖ= ^fj=
éêçÖêÉëëáåÖ=áå=é~ê~ääÉäI=ïÜÉêÉ=íÜÉ=Åçãé~åó=Ü~ë=ëíê~íÉÖáÅ=é~êíåÉêëÜáéë=ïáíÜ=^ÑêÉå=~åÇ= pÉÅíçê= láä=C=d~ë=
pçå~Ö~ëK=fí=áë=ëÉÉâáåÖ=ÑìêíÜÉê=é~êíåÉêë=íç=ëÉÅìêÉ=Ö~ë=~ëëÉíëK=d~ëçä=ïáää=íÜìë=ÄÉ= pÜ~êÉë=áå=áëëìÉ= NIMUPKTOã=
= =
çéíáãáëáåÖ=ëã~ää=ëÅ~äÉ=Ö~ë=êÉëÉêîÉëI=~åÇ=ã~êâÉíáåÖ=Ö~ë=íÜ~í=ã~ó=åçí=çíÜÉêïáëÉ=êÉ~ÅÜ=
mêáÅÉ= =
íÜÉ=ã~êâÉíI=îá~=ÇçãÉëíáÅ=ëìééäó=çê=ÉñéçêíK=fÑ=íÜÉ=éêçàÉÅíë=Öç=íç=éä~åI=Ñáêëí=êÉîÉåìÉë= RO=ïÉÉâ= eáÖÜ= içï=
ïçìäÇ=ÄÉ=ÉñéÉÅíÉÇ=áå=OMNQK=tÉ=î~äìÉ=íÜÉ=íïç=éêçàÉÅíë=~í=¡VMã=çê=TKRé=éÉê=ëÜ~êÉK= = QKTUé= MKQNé=
= =
qïç=ã~áå=éêçàÉÅíëW=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~= _~ä~åÅÉ=pÜÉÉí=~ë=~í=PN=^ìÖìëí=OMMU=
d~ëçäÛë=ã~áå=ÑçÅìë=áë=çå=íïç=éêçàÉÅíë=áå=íÜÉ=dìäÑ=çÑ=dìáåÉ~K=få=káÖÉêá~=áí=Ü~ë=~= aÉÄíLbèìáíó=EBF= kL^=
k^s=éÉê=ëÜ~êÉ=EéF= MKSU=
ëíê~íÉÖáÅ=é~êíåÉêëÜáé=ïáíÜ=^ÑêÉå=~åÇ=Ü~ë=íÜÉ=êáÖÜí=çÑ=Ñáêëí=êÉÑìë~ä=çå=~ää=^ÑêÉåÛë=
kÉí=Å~ëÜ=E¡ãF= PKM=
ìéëíêÉ~ã=Ö~ë=~ëëÉíëK=qÜÉ=Åçãé~åó=áë=~äëç=áå=åÉÖçíá~íáçåë=ïáíÜ=çíÜÉê=ìéëíêÉ~ã=Ö~ë=
= =
~ëëÉí=çïåÉêë=íç=ÄìáäÇ=ÉåçìÖÜ=Ö~ë=êÉëÉêîÉë=E~ééêçñ=OJRqÅÑF=íç=àìëíáÑó=~=ëã~ääJëÅ~äÉ= _ìëáåÉëë=
ikd=éä~åíK=få=bèì~íçêá~ä=dìáåÉ~=d~ëçäÛë=àçáåí=îÉåíìêÉI=áKÉK=plk^cI=ÉåíÉêÉÇ=áåíç=~å= d~ëçä=áë=~å=^ÑêáÅ~JÑçÅìëÉÇ=Ö~ë=
áåÇÉéÉåÇÉåíK=qÜÉ=Åçãé~åó=~áãë=íç=
ÉñáëíáåÖ=eç^=ïáíÜ=bññçå=jçÄáä=áå=gìåÉ=OMMV=íç=ëÉÅìêÉ=Ö~ë=ÅìêêÉåíäó=ÄÉáåÖ=Ñä~êÉÇ=~í=
ãçåÉíáëÉ=Ö~ë=êÉëÉêîÉë=áå=ëìÄJp~Ü~ê~å=
íÜÉ=w~Ñáêç=ÇÉîÉäçéãÉåíK=^=êÉëÉêîÉë=êÉéçêí=Äó=oóÇÉê=pÅçíí=Ü~ë=ÄÉÉå=ÅçããáëëáçåÉÇ=íç= ^ÑêáÅ~=Äó=~ÖÖêÉÖ~íáçåI=äáèìÉÑ~Åíáçå=~åÇ=
ëÜáéãÉåí=íç=ÜáÖÜJî~äìÉ=ã~êâÉíë=
ÅÉêíáÑó=Ö~ë=êÉëÉêîÉë=~åÇ=ÇÉÑáåÉ=íÜÉ=ÄÉëí=ÇÉîÉäçéãÉåí=çéíáçåëK=
ïçêäÇïáÇÉK==
cáå~åÅá~äëW=cìêíÜÉê=ÑìåÇáåÖ=äáâÉäó=íç=ÄÉ=åÉÉÇÉÇ= s~äì~íáçå=
= OMMU= OMMVÉ= OMNMÉ=
d~ëçäÛë=ÉåÇJj~êÅÜ=OMMV=Ä~ä~åÅÉ=ëÜÉÉí=ëÜçïÉÇ=Å~ëÜ=çÑ=AMKUãK=få=^ìÖìëí=OMMV=áí=
mLb=êÉä~íáîÉ= kL^= kL^= kL^=
ê~áëÉÇ=¡NãI=ÄÉáåÖ=íÜÉ=ÅçãéäÉíáçå=çÑ=~=¡Pã=ÑìåÇáåÖ=éêçÖê~ããÉ=~ååçìåÅÉÇ=É~êäáÉêK=
mL`c= kL^= kL^= kL^=
_~ëÉÇ=çå=OMMULMV=Å~ëÜJÄìêå=çÑ=Å=¡QKRãI=ïÉ=Éëíáã~íÉ=Å~ëÜ=Ä~ä~åÅÉë=íç=ÄÉ=ÄÉäçï= bsLp~äÉë= kL^= kL^= kL^=
¡NãI=éçáåíáåÖ=íç=äáâÉäó=ÑìêíÜÉê=ÑìåÇ=ê~áëáåÖ=áå=íÜÉ=ëÜçêí=íÉêãI=áå=ïÜáÅÜ=^Ñd~ë=~åÇ= olb= kL^= kL^= kL^=
^ÑêÉåI=ã~àçê=ëÜ~êÉÜçäÇÉêëI=Ü~îÉ=áåÇáÅ~íÉÇ=íÜÉáê=áåíÉêÉëí=áå=é~êíáÅáé~íáåÖK=få=~ÇÇáíáçå=íÜÉ= = =
Åçãé~åó=Ü~ë=~=pba^=Ñ~Åáäáíó=íç=Çê~ï=ìé=íç=¡NMã=ÇÉéÉåÇáåÖ=çå=ëíçÅâ=äáèìáÇáíóK= oÉîÉåìÉë=Äó=ÖÉçÖê~éÜó=
rh= bìêçéÉ= rp= líÜÉê=
s~äì~íáçåW=^=ÅçåëÉêî~íáîÉ=~ééêç~ÅÜ= MB= MB= MB= MB=
_~ëÉÇ=çå=íÜÉ=íïç=éêçàÉÅíë=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~=ïÉ=î~äìÉ=d~ëçä=~í=¡VMã= = =
^å~äóëíë=
çê=TKRé=çå=~=Ñìääó=ÇáäìíÉÇ=Ä~ëáëK=táíÜ=íÜÉ=ëÜ~êÉë=ÅìêêÉåíäó=íê~ÇáåÖ=~í=PéI=d~ëçä=ÅçìäÇ=
^äÉëë~åÇêç=mçòòá= MOM=PMTT=RTOT=
éêçîáÇÉ=~=ã~íÉêá~ä=êÉíìêåK=eçïÉîÉêI=î~äìÉ=êÉ~äáë~íáçå=ÇÉéÉåÇë=çå=ëÜçêíJíÉêã=ÑìåÇáåÖI= ~éçòòá]ÉÇáëçåáåîÉëíãÉåíêÉëÉ~êÅÜKÅçKìâ
ïÜáÅÜ=áë=âÉó=íç=í~âÉ=íÜÉ=éêçàÉÅíë=íç=Ñáå~ä=áåîÉëíãÉåí=ÇÉÅáëáçå=EcfaFK c~êáÇ=^Ä~ëçî= MOM=PMTT=RTOS=
Ñ~Ä~ëçî]ÉÇáëçåáåîÉëíãÉåíêÉëÉ~êÅÜKÅçKìâ
=
d~ëçä=áë=~=êÉëÉ~êÅÜ=ÅäáÉåí=çÑ=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=iáãáíÉÇ=
2. =
=
O=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
fåîÉëíãÉåí=ëìãã~êóW=pã~ääI=äçïJÅçëí=ikd=
`çãé~åó=ÇÉëÅêáéíáçåW=^ÑêáÅ~JÑçÅìëÉÇ=ëã~ääJëÅ~äÉ=ikd=
d~ëçä=~áãë=íç=ÄÉ=íÜÉ=äÉ~ÇáåÖ=áåÇÉéÉåÇÉåí=^ÑêáÅ~JÑçÅìëÉÇ=Ö~ë=Åçãé~åó=áå=íÜÉ=ãáÇëíêÉ~ã=ëÉÖãÉåíK=
fí=éä~åë=íç=ãçåÉíáëÉ=Ö~ë=êÉëÉêîÉë=íÜ~í=~êÉ=çíÜÉêïáëÉ=ëíê~åÇÉÇI=ìëáåÖ=áååçî~íáîÉ=íÉÅÜåçäçÖó=~åÇ=
~ääá~åÅÉë=ïáíÜ=ÇáÑÑÉêÉåí=Åçãé~åáÉë=áåîçäîÉÇ=áå=É~ÅÜ=ëí~ÖÉW=ìéëíêÉ~ã=Ö~ë=ÇáëÅçîÉêóI=Ö~ë=Ö~íÜÉêáåÖ=
ëóëíÉãë=~åÇ=äáèìÉÑ~ÅíáçåI=ëÜáééáåÖ=~åÇ=êÉJÖ~ëáÑáÅ~íáçå=~åÇ=ã~êâÉíáåÖ=éêçÅÉëëÉëK=fíë=éêáã~êó=
éêçàÉÅíë=íç=ëÉÅìêÉ=~ëëÉíë=~êÉ=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~K=qÜÉ=Åçãé~åó=áë=ÇÉîÉäçéáåÖ=ëÉîÉê~ä=
âÉó=êÉä~íáçåëÜáéëW=áå=ìéëíêÉ~ã=ïáíÜ=^ÑêÉå=~åÇ=pçå~Ö~ë=íç=ëÉÅìêÉ=~ÅÅÉëë=íç=Ö~ëX=ïáíÜ=íÜÉ=çáä=~åÇ=
Ö~ë=ÉåÖáåÉÉêáåÖ=~åÇ=ëÉêîáÅÉë=Åçãé~åó=jìëí~åÖ=íç=ÇÉîÉäçé=Ñäç~íáåÖ=ëíêìÅíìêÉëX=~åÇ=ïáíÜ=ìíáäáíó=
Åçãé~åáÉë=EëìÅÜ=~ë=bÇcFK=få=~ÇÇáíáçåI=çééçêíìåáíáÉë=~êÉ=ÄÉáåÖ=éìêëìÉÇ=áå=çíÜÉê=dìäÑ=çÑ=dìáåÉ~=
ÅçìåíêáÉëK=
qÜÉ=íóéáÅ~ä=~ééêç~ÅÜ=íç=ãçåÉíáëáåÖ=Ö~ë=êÉëÉêîÉë=íÜ~í=~êÉ=ÅäçëÉ=íç=ÉáíÜÉê=~å=áåÇìëíêá~ä=çê=~=ÇçãÉëíáÅ=
ã~êâÉí=áë=íç=ÅçåëíêìÅí=~=åÉíïçêâ=çÑ=ÇáëíêáÄìíáçå=éáéÉäáåÉëK=qÜÉ=åÉï=ÉäÉãÉåí=áå=d~ëçäÛë=~ééêç~ÅÜ=áë=
íç=çéÉê~íÉ=áå=~=êÉÖáçå=ïáíÜçìí=éáéÉäáåÉ=áåÑê~ëíêìÅíìêÉI=ïáíÜ=~=ä~êÖÉ=åìãÄÉê=çÑ=éçÅâÉíë=çÑ=Ö~ë=íÜ~í=~êÉ=
íçç=ëã~ää=áå=íÜÉãëÉäîÉë=íç=àìëíáÑó=ikd=áåîÉëíãÉåí=Äó=ã~àçêë=ïÜçI=ïÜáäÉ=ÅçãéÉíáåÖ=áå=íÜÉ=ikd=
ã~êâÉíI=~êÉ=ÖÉåÉê~ääó=äççâáåÖ=Ñçê=ä~êÖÉê=êÉëÉêîÉëK=
d~ëçäÛë=~ééêç~ÅÜ=áë=íç=ÇÉîÉäçé=Ö~ë=äáèìÉÑ~Åíáçå=éêçÅÉëëÉë=íÜ~í=~êÉ=ÉÅçåçãáÅ=ïáíÜ=äçïÉê=Ö~ë=
êÉëÉêîÉë=~åÇ=äçïÉê=Å~éáí~ä=Åçëí=Äó=ìëáåÖ=éêçîÉå=çåëÜçêÉ=íÉÅÜåçäçÖó=çå=Ä~êÖÉë=äçÅ~íÉÇ=áå=ëÜ~ääçï=
ï~íÉêë=ÅäçëÉ=íç=íÜÉ=Åç~ëíK=
s~äì~íáçåW=^=ÅçåëÉêî~íáîÉ=~ééêç~ÅÜ=
_~ëÉÇ=çå=íÜÉ=íïç=éêçàÉÅíë=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~I=ïÉ=î~äìÉ=d~ëçä=~í=¡VMã=çê=TKRé=~=
ëÜ~êÉ=çå=~=Ñìääó=ÇáäìíÉÇ=Ä~ëáëK=táíÜ=íÜÉ=ëÜ~êÉë=ÅìêêÉåíäó=íê~ÇáåÖ=~í=PéI=d~ëçä=ÅçìäÇ=éêçîáÇÉ=~=ã~íÉêá~ä=
êÉíìêåK=eçïÉîÉêI=î~äìÉ=êÉ~äáë~íáçå=ÇÉéÉåÇë=çå=ëÜçêíJíÉêã=ÑìåÇáåÖI=ïÜáÅÜ=áë=âÉó=íç=í~âÉ=íÜÉ=éêçàÉÅíë=
íç=Ñáå~ä=áåîÉëíãÉåí=ÇÉÅáëáçåK=
pÉåëáíáîáíáÉë=
qÜÉ=âÉó=íç=~=éêçàÉÅí=áë=íç=ÄêáåÖ=~åÇ=âÉÉé=~ää=íÜÉ=ÉäÉãÉåíë=íçÖÉíÜÉêW=ëìÑÑáÅáÉåí=Ö~ë=ëìééäóI=ÄìáäÇáåÖ=
íÜÉ=éáéÉäáåÉ=åÉíïçêâ=íç=Ö~íÜÉê=íÜÉ=Ö~ëI=ÄìáäÇáåÖ=íÜÉ=äáèìÉÑ~Åíáçå=éä~åíI=íÜÉ=ëéÉÅá~äáëí=ëÜáééáåÖI=íÜÉ=
ÉîÉåíì~ä=ã~êâÉí=~åÇI=ÅêáíáÅ~ääóI=Ñáå~åÅáåÖK=lå=íçé=çÑ=íÜáëI=íÜÉ=Åçãé~åó=çéÉê~íÉë=áå=íÜÉ=ÅÜ~ääÉåÖáåÖ=
ÉåîáêçåãÉåí=íÜ~í=áë=íÜÉ=dìäÑ=çÑ=dìáåÉ~K=^ÇÇáíáçå~ääó=íÜÉ=îá~Äáäáíó=çÑ=~=éêçàÉÅí=áë=ëìÄàÉÅí=íç=íÜÉ=ìëì~ä=
áëëìÉë=çÑ=çìíéìí=éêáÅÉë=~åÇ=áåéìí=ÅçëíëX=çìê=î~äì~íáçå=Eé~ÖÉ=NMFI=ëÜçïë=áí=íç=ÄÉ=êÉ~ëçå~Ääó=êçÄìëí=
Ä~ëÉÇ=çå=~=ëáåÖäÉ=íóéáÅ~ä=éêçàÉÅíK==
cáå~åÅá~äë=
d~ëçäÛë=ÉåÇJj~êÅÜ=OMMV=Ä~ä~åÅÉ=ëÜÉÉí=ëÜçïÉÇ=Å~ëÜ=çÑ=AMKUãK=få=^ìÖìëí=OMMV=áí=ê~áëÉÇ=¡NãI=
ÄÉáåÖ=íÜÉ=ÅçãéäÉíáçå=çÑ=~=¡Pã=ÑìåÇáåÖ=éêçÖê~ããÉ=~ååçìåÅÉÇ=É~êäáÉêK=_~ëÉÇ=çå=OMMULMV=Å~ëÜJ
Äìêå=çÑ=Å=¡QKRãI=ïÉ=Éëíáã~íÉ=d~ëçäÛë=Å~ëÜ=Ä~ä~åÅÉ=íç=ÄÉ=ÄÉäçï=¡NãI=éçáåíáåÖ=íç=äáâÉäó=ÑìêíÜÉê=ÑìåÇ=
ê~áëáåÖ=áå=íÜÉ=ëÜçêí=íÉêãI=áå=ïÜáÅÜ=^Ñd~ë=~åÇ=^ÑêÉåI=ã~àçê=ëÜ~êÉÜçäÇÉêëI=Ü~îÉ=áåÇáÅ~íÉÇ=íÜÉáê=áåíÉêÉëí=
áå=é~êíáÅáé~íáåÖK=få=~ÇÇáíáçå=íÜÉ=Åçãé~åó=Ü~ë=~=pba^=Ñ~Åáäáíó=íç=Çê~ï=ìé=íç=¡NMã=ÇÉéÉåÇáåÖ=çå=
ëíçÅâ=äáèìáÇáíóK=
=
3. =
=
P=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
ikd=î~äìÉ=ÅÜ~áåW=d~ëçäÛë=ëã~ääJëÅ~äÉ=~ééêç~ÅÜ=
qÜÉ=ikd=s~äìÉ=`Ü~áå=Ó=d~ëçä=íç=Öç=ïÜÉêÉ=íÜÉ=ã~àçêë=ÇçåÛí=
eáëíçêáÅ~ääó=áå=ã~êâÉíë=ëìÅÜ=~ë=tÉëí=^ÑêáÅ~I=íÜÉ=çáä=ã~àçêë=ÑçÅìëÉÇ=çå=çáä=ïÜáäÉ=Ö~ë=Éñéäçáí~íáçå=ï~ë=
äáãáíÉÇ=Äó=íÜÉ=íÜÉå=~ÄëÉåÅÉ=çÑ=äçÅ~ä=ã~êâÉíëI=ikd=éä~åíë=~åÇ=Ö~ë=ÇÉäáîÉêó=áåÑê~ëíêìÅíìêÉK=eçïÉîÉêI=
íÜÉ=ã~êâÉí=Ü~ë=ÅÜ~åÖÉÇ=áå=íÜ~í=áåíÉêå~íáçå~ä=ÇÉã~åÇ=Ñçê=Ö~ë=Ü~ë=ÖêçïåX=ÇÉîÉäçéáåÖ=Åçìåíêó=
~ìíÜçêáíáÉë=Ü~îÉ=ÄÉííÉê=ÇÉÑáåÉÇ=ÉåÉêÖó=ëíê~íÉÖáÉëI=íÉÅÜåçäçÖó=Ü~ë=~Çî~åÅÉÇI=~åÇ=íÜÉêÉ=~êÉ=
ëìÑÑáÅáÉåíäó=ä~êÖÉ=Ö~ë=ÑáÉäÇë=íç=àìëíáÑó=ëí~åÇ~äçåÉ=ÇÉîÉäçéãÉåíë=ÅçãÄáåÉÇ=ïáíÜ=ikd=éä~åíëK=få=~=
êÉÖáçå=ëìÅÜ=~ë=íÜÉ=dìäÑ=çÑ=dìáåÉ~I=tççÇ=j~ÅâÉåòáÉ=Éëíáã~íÉë=íÜ~í=íÜÉêÉ=~êÉ=~êçìåÇ=OMMqÅÑ=çÑ=
éêçîÉå=~åÇ=éêçÄ~ÄäÉ=Ö~ë=êÉëÉêîÉëK=
bñÜáÄáí=NW=`çåîÉåíáçå~ä=~åÇ=ëã~ää=ëÅ~äÉ=ikdë=
=
pçìêÅÉW=d~ëçä====
=
láä=~åÇ=Ö~ë=ã~àçêë=Ü~îÉ=íÜÉ=êÉëçìêÅÉë=~åÇ=ëâáääë=íç=ã~å~ÖÉ=~ää=íÜÉ=~ëéÉÅíë=çÑ=íÜÉ=ikd=î~äìÉ=ÅÜ~áå=
Ñêçã=íÜÉ=ìéëíêÉ~ã=~ëëÉíë=íç=íÜÉ=ãáÇëíêÉ~ã=ëÉÖãÉåíI=ïÜáÅÜ=í~âÉë=Ö~ë=Ñêçã=íÜÉ=êÉãçíÉ=Ö~ë=ëçìêÅÉ=
~åÇ=ÄêáåÖë=áí=ïÜÉêÉ=áí=áë=åÉÉÇÉÇK=
eçïÉîÉêI=Ñçê=ëìÅÜ=ã~àçêë=íÜÉ=ëíê~åÇÉÇI=ëÅ~ííÉêÉÇI=ëã~ääÉê=Ö~ë=êÉëÉêîÉë=ã~ó=åçí=ÄÉ=ÉÅçåçãáÅ~ääó=
îá~ÄäÉI=ÅêÉ~íáåÖ=êççã=Ñçê=Åçãé~åáÉë=ëìÅÜ=~ë=d~ëçä=íç=çéÉê~íÉ=áå=íÜÉ=ãáÇëíêÉ~ã=ëÉÖãÉåíK=cçê=
d~ëçäI=áíë=çééçêíìåáíó=áë=íç=~ÖÖêÉÖ~íÉ=ëìÅÜ=êÉëÉêîÉëI=~åÇ=íç=ÄÉ=íÜÉ=ÅçåÇìáí=ÄÉíïÉÉå=íÜÉ=Ö~ë=íç=ÄÉ=
Éñíê~ÅíÉÇ=~åÇ=íÜÉ=ÅçããÉêÅá~ä=ã~êâÉíK=pçI=d~ëçäÛë=ëìÅÅÉëë=ïáää=ÇÉéÉåÇ=çå=íÜêÉÉ=âÉó=ÉäÉãÉåíëW=ENF=
ëçìêÅáåÖ=íÜÉ=Ö~ëX=EOF=íÜÉ=íÉÅÜåáÅ~ä=~åÇ=éê~ÅíáÅ~ä=~ëéÉÅíë=çÑ=ÖÉííáåÖ=íÜÉ=Ö~ë=íç=íÜÉ=ÅìëíçãÉêX=~åÇ=EPF=
íÜÉ=ÅçããÉêÅá~ä=~åÇ=ã~êâÉí=~ëéÉÅíë=çÑ=ëÉääáåÖ=íÜÉ=Ö~ëK=
dÉííáåÖ=íÜÉ=ikd=íç=ã~êâÉí=áë=íÜÉ=âÉó==
qÜÉ=ÉÅçåçãáÅë=~åÇ=äçÖáëíáÅë=çÑ=íÜÉ=ikd=ã~êâÉí=ÇáÑÑÉê=Ñêçã=çáäK=låÅÉ=çáä=Ü~ë=~ÅÅÉëë=íç=~=ÖççÇ=éçêíI=
Ñçê=Éñ~ãéäÉ=íÜêçìÖÜ=~=éáéÉäáåÉI=áí=áë=ÖÉåÉê~ääó=ÜáÖÜäó=ã~êâÉí~ÄäÉ=çå=íÜÉ=áåíÉêå~íáçå~ä=çáä=ã~êâÉíK=_ìí=
Ñçê=Ö~ëI=ÉñÅÉéí=áå=íÜÉ=Ñçêã=çÑ=ikdI=íÜÉêÉ=áë=åç=áåíÉêå~íáçå~ä=ã~êâÉí=~åÇ=Åçåëìãéíáçå=áë=ÖÉåÉê~ääó=
äçÅ~äLêÉÖáçå~äK=
=
4. =
=
Q=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
qÜÉ=ÅÜÉ~éÉëí=ãÉ~åë=çÑ=ÇáëéçëáåÖ=çÑ=ìåï~åíÉÇ=Ö~ë=ìëÉÇ=íç=ÄÉ=íç=Ñä~êÉ=áíI=Äìí=ÖçîÉêåãÉåíë=~êÉ=
ïçêâáåÖ=íç=áãéçëÉ=Ä~åë=~åÇ=ÇÉ~ÇäáåÉë=Ñçê=ÉåîáêçåãÉåí~ääó=ìåëçìåÇ=Ñä~êÉÇ=Ö~ë=íç=ÄÉ=ëíçééÉÇ=~åÇ=
ãçåÉíáëÉÇ=áåëíÉ~ÇK=mêçÖêÉëë=áå=ÇÉîÉäçéáåÖ=ã~êâÉíë=Ü~ë=ÄÉÉå=ëäçïI=Äìí=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=
dìáåÉ~=íÜÉ=ÖçîÉêåãÉåíë=~êÉ=ÅçããáííÉÇ=íç=áãéçëáåÖ=~=íçí~ä=Ä~å=çå=Ñä~êáåÖ=~åÇ=~êÉ=ïçêâáåÖ=ïáíÜ=
ÇáÑÑÉêÉåí=Åçãé~åáÉëI=áåÅäìÇáåÖ=d~ëçäI=íç=ÑáåÇ=~=îá~ÄäÉ=~äíÉêå~íáîÉ=ëçäìíáçåK=
^ÅÅçêÇáåÖ=íç=fepI=~=Ç~í~=Åçåëìäí~åÅó=ÑáêãI=Å=TMB=çÑ=~ää=Ö~ë=ÇáëÅçîÉêáÉë=áå=íÜÉ=dìäÑ=çÑ=dìáåÉ~=~êÉ=
ÄÉíïÉÉå=MKORJRqÅÑ=IïÜáÅÜ=~êÉ=ëìÄJÉÅçåçãáÅ~ä=Ñçê=~=ÅçåîÉåíáçå~ä=ikd=éä~åíK=qÜáë=áë=íÜÉ=íóéáÅ~ä=ÑáÉäÇ=
ëáòÉ=íÜ~í=d~ëçä=áë=éä~ååáåÖ=íç=~ÖÖêÉÖ~íÉI=ìëáåÖ=~=äçïJÅçëí=íÉÅÜåçäçÖó=íç=ãçåÉíáëÉ=íÜÉ=Ö~ëK=
i~êÖÉJëÅ~äÉ=îë=ëã~ääJëÅ~äÉ=ikd=
tÜÉêÉ=íÜÉêÉ=áë=~å=Éëí~ÄäáëÜÉÇ=äçÅ~ä=ã~êâÉí=Ñçê=íÜÉ=Ö~ëI=~=íóéáÅ~ä=ä~êÖÉJëÅ~äÉ=ikd=éêçàÉÅí=Ñçê=~å=çáä=
~åÇ=Ö~ë=ã~àçê=Å~å=Åçëí=ÄÉíïÉÉå=ARÄåJANMÄå=~åÇ=áåîçäîÉW=
• éáéÉäáåÉë=íç=Ö~íÜÉê=íÜÉ=Ö~ë=Ñêçã=íÜÉ=ÑáÉäÇ=~åÇ=íç=íê~åëéçêí=áí=íç=~=éçêíX==
• ÅçåëíêìÅíáçå=çÑ=éä~åí=íç=äáèìÉÑó=~åÇ=íê~åëÑÉê=áí=íç=ëÜáéëX=
• ÅçåëíêìÅíáçå=çÑ=ëéÉÅá~äáëí=ëÜáéë=íç=íê~åëéçêí=íÜÉ=åçï=äáèìÉÑáÉÇ=å~íìê~ä=Ö~ëX=~åÇ=
• ÅçåëíêìÅíáçå=çÑ=~=éä~åí=áå=íÜÉ=Åçìåíêó=çÑ=ë~äÉ=íç=Ö~ëëáÑó=íÜÉ=ikd=~åÇ=~=ÅçååÉÅíáçå=éçáåí=
íç=ÇÉäáîÉê=áí=áåíç=íÜÉ=äçÅ~ä=åÉíïçêâI=çê=éçëëáÄäó=ÇáêÉÅí=íç=~=ä~êÖÉ=ÅìëíçãÉêK=
d~ëçäÛë=ÑçÅìë=çå=ÅÜÉ~éÉêI=ëã~ääJëÅ~äÉ=ikd=êÉëÉêîÉëI=Ü~ë=ëÉîÉê~ä=~Çî~åí~ÖÉëW=
• êÉÖáçå~ä=~ìíÜçêáíáÉë=éìëÜ=íç=Éäáãáå~íÉ=Ö~ë=Ñä~êáåÖ=~åÇ=íç=ãçåÉíáëÉ=~=î~äì~ÄäÉ=êÉëçìêÅÉX=
• áååçî~íáîÉ=íÉÅÜåçäçÖó=íÜ~í=ã~âÉë=ëã~ääÉê=ëÅ~äÉ=ikd=îá~ÄäÉX=
• áåÅêÉ~ëáåÖ=ikd=ÇÉã~åÇI=~åÇ=ïáíÜ=áíI=íÜÉ=áåíÉêÉëí=çÑ=ìíáäáíó=Åçãé~åáÉë=äáâÉ=bÇc=áå=ëÉÅìêáåÖ=
ãçêÉ=ikd=ëìééäó=~åÇ=ãçîáåÖ=ìé=íÜÉ=î~äìÉ=ÅÜ~áåX=~åÇ=
• d~ëçäÛë=ëíêçåÖ=êÉä~íáçåëÜáéë=ïáíÜ=ìéëíêÉ~ã=Åçãé~åáÉëI=ÖáîáåÖ=áí=~ÅÅÉëë=íç=ëíê~åÇÉÇ=Ö~ë=
~åÇ=áíë=~Äáäáíó=íç=ÄêáåÖ=íçÖÉíÜÉê=ëíê~íÉÖáÅ=é~êíåÉêëÜáéë=~Åêçëë=íÜáë=î~äìÉ=ÅÜ~áåK=
qÜÉ=pçäìíáçåW=låëÜçêÉ=íÉÅÜåçäçÖó=çå=çÑÑëÜçêÉ=Ä~êÖÉë==
d~ëçäÛë=éêçàÉÅíë=áå=káÖÉêá~=êÉä~íÉ=íç=ëíê~åÇÉÇ=Ö~ë=êÉëÉêîÉëI=áå=íÜáë=Å~ëÉI=êÉä~íáîÉäó=ÅäçëÉ=íç=íÜÉ=ëÜçêÉ=
~åÇ=åçí=áå=ÇÉÉé=ï~íÉêëK=qÜáë=éêÉëÉåíë=~=êÉä~íáîÉäó=ÄÉåáÖå=ÉåîáêçåãÉåíX=~äíÜçìÖÜ=íÜÉ=Ö~ë=ëíáää=åÉÉÇë=
íç=ÄÉ=Ö~íÜÉêÉÇI=éêçÅÉëëÉÇ=~åÇ=ëÉåí=~ëÜçêÉK=d~ëçä=éêçéçëÉë=íç=ìëÉ=~=åÉ~êJëÜçêÉ=éêçÇìÅíáçå=
ëóëíÉã=EkpmpF=ÇÉëáÖåÉÇ=ëéÉÅáÑáÅ~ääó=Ñçê=ìëÉ=áå=ëÜ~ääçï=ï~íÉê=ÉåîáêçåãÉåíëK=
bñÜáÄáí=OW=ikd=Ñ~ÅáäáíáÉë=çå=~=ãççêÉÇJÑäç~íáåÖ=Ä~êÖÉ=
=
pçìêÅÉW=d~ëçä=
=
5. =
=
R=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
d~ëçä=Ü~ë=Éî~äì~íÉÇ=íÜÉ=ÑÉ~ëáÄáäáíó=çÑ=~=kpmp=~åÇ=ÅçåÅäìÇÉÇ=íÜ~í=íÜÉ=ÇÉëáÖå=áë=íÉÅÜåáÅ~ääó=ëçìåÇ=
~åÇ=Å~å=ÄÉ=ÇÉëáÖåÉÇ=~åÇ=Äìáäí=íç=áåÇìëíêó=~ÅÅÉéíÉÇ=ÅçÇÉë=~åÇ=ëí~åÇ~êÇëK=tÜáäÉ=ÑìêíÜÉê=ÇÉí~áäÉÇ=
Éî~äì~íáçå=~åÇ=ÑÉ~ëáÄáäáíó=çÑ=íÜÉ=kpmp=åÉÉÇë=íç=ÄÉ=ÅçåÇìÅíÉÇI=íÜÉ=kpmpÛë=íçí~ä=Å~éÉñLçéÉñ=
Éëíáã~íÉë=Ñçê=íÜÉ=Ñ~Åáäáíó=~êÉ=ÅçãéÉíáíáîÉ=çå=~=Åçëí=éÉê=íçååÉ=çÑ=ikd=éêçÇìÅíáçå=Å~é~Åáíó=Åçãé~êÉÇ=
íç=çíÜÉê=áåÇìëíêó=éêçàÉÅíëK=qÜÉ=é~êíáÉë=ïáää=àçáåíäó=ÇÉÅáÇÉ=íÜÉ=íáãáåÖ=íç=éêçÅÉÉÇ=íç=ÑêçåíJÉåÇ=
ÉåÖáåÉÉêáåÖ=ÇÉëáÖå=EcbbaFI=~ééäáÉÇ=çå=áÇÉåíáÑáÉÇ=Ö~ë=êÉëÉêîÉë=áå=íÜÉ=êÉÖáçåK=qÜÉ=éêçàÉÅí=äÉ~Ç=íáãÉ=
Ñêçã=ëí~êí=çÑ=cbba=íç=Ñáêëí=ÇÉäáîÉêó=çÑ=ikd=Å~êÖçë=áë=PKR=íç=Q=óÉ~êë=~åÇ=áë=íÜÉêÉÑçêÉ=~å=ÉÅçåçãáÅ=
~äíÉêå~íáîÉ=íç=ÄçíÜ=çåëÜçêÉ=íê~Çáíáçå~ä=ikd=éä~åíë=~åÇ=Ñäç~íáåÖ=ikdK=
aÉëáÖåÉÇ=Ñçê=Ö~ë=äáèìÉÑ~Åíáçå=áå=ëÜ~ääçï=ï~íÉêëI=áí=áë=Ä~ëÉÇ=çå=Ñäç~íáåÖ=ãçÇìäÉëI=ÄÉêíÜÉÇ=~åÇ=
ãççêÉÇ=íç=~=ÑáñÉÇ=~åÇ=éêçíÉÅíÉÇ=àÉííóK=qÜÉ=ÑáñÉÇ=ÉäÉãÉåí=ëí~åÇë=áå=NRJNS=ãÉíêÉë=çÑ=ï~íÉê=~åÇ=
êÉÅÉáîÉë=ìåíêÉ~íÉÇ=Ö~ë=Äó=éáéÉäáåÉX=~ää=ìíáäáíáÉëI=áåëíêìãÉåí~íáçåI=Ö~ë=~åÇ=ikd=äç~ÇáåÖ=~êãë=~êÉ=ÑáñÉÇ=
íç=áíK=qÜÉ=Ñäç~íáåÖ=ÉäÉãÉåíë=~êÉ=íÜÉ=ikd=éêÉJíêÉ~íãÉåí=~åÇ=äáèìÉÑ~Åíáçå=Ä~êÖÉ=~åÇ=íïç=ikd=ëíçê~ÖÉ=
îÉëëÉäëK=qÜÉêÉ=áë=ÄÉêíÜáåÖ=ëé~ÅÉ=Ñçê=íÜÉ=ãççêáåÖ=çÑ=ikd=Éñéçêí=Å~êêáÉêëK=
qÜÉ=éêáòÉW=dìäÑ=çÑ=dìáåÉ~=
j~åó=ÅçìåíêáÉë=áå=íÜÉ=dìäÑ=çÑ=dìáåÉ~=Ü~îÉ=ëìÄëí~åíá~ä=Ö~ë=êÉëçìêÅÉë=ïÜáÅÜ=Ü~îÉ=çåäó=ÄÉÉå=ÑçìåÇ=
~åÇ=ëí~êíÉÇ=íç=ÄÉ=ÇÉîÉäçéÉÇ=áå=íÜÉ=ä~ëí=ÇÉÅ~ÇÉK=qÜÉ=ä~Åâ=çÑ=~=ä~êÖÉ=ëÅ~äÉ=ikd=åÉíïçêâI=~åÇ=íÜÉ=
åÉÉÇ=íç=Éäáãáå~íÉ=Ñä~êáåÖ=Eëíáää=çåÖçáåÖF=ÅêÉ~íÉë=íÜÉ=çééçêíìåáíó=Ñçê=ÅçããÉêÅá~äáë~íáçå=çÑ=~ÖÖêÉÖ~íÉÇ=
ëã~ää=ëÅ~äÉ=çÑÑëÜçêÉ=êÉëÉêîÉëK=qÜáë=áë=íÜÉ=ëÉÖãÉåí=íÜ~í=d~ëçä=áë=í~êÖÉíáåÖK=fep=Éëíáã~íÉë=íÜ~í=Å=NMB=
çÑ=íÜÉ=Ö~ë=ÇáëÅçîÉêáÉë=áå=íÜÉ=dìäÑ=çÑ=dìáåÉ~=EÅ=OMMqÅÑF=Ü~îÉ=~=ëáòÉ=ÄÉíïÉÉå=MKORJRqÅÑ=EáÉ=ëã~ää=
ëÅ~äÉFK=
bñÜáÄáí=PW=dìäÑ=çÑ=dìáåÉ~I=OMMqÅÑ=çÑ=Ö~ë=êÉëçìêÅÉë=
=
pçìêÅÉW=d~ëçä====
hÉó=éêçàÉÅíëW=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~=
d~ëçäÛë=ã~áå=ÑçÅìë=áë=çå=íïç=éêçàÉÅíë=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~K=aáëÅìëëáçåë=ïáíÜ=ÑìêíÜÉê=
íÜáêÇ=é~êíáÉë=~êÉ=çåÖçáåÖ=íç=ëÉÅìêÉ=Ö~ë=~ëëÉíëK=få=káÖÉêá~=íÜÉ=Åçãé~åó=~áãë=íç=Öêçìé=íïç=íç=ÑáîÉ=
ÑáÉäÇë=ïáíÜ=ÉåçìÖÜ=êÉëÉêîÉë=íç=àìëíáÑó=~=ÚåÉ~êJëÜçêÉÛ=ikd=íÉêãáå~äK=få=bèì~íçêá~ä=dìáåÉ~=~=êÉëÉêîÉ=
êÉéçêí=áë=ÅìêêÉåíäó=ÄÉáåÖ=ÅçããáëëáçåÉÇ=~åÇ=ãçåÉíáë~íáçå=çéíáçåë=ïáää=ÇÉéÉåÇ=çå=ëáòÉ=çÑ=ÅÉêíáÑáÉÇ=
Ö~ë=êÉëçìêÅÉëK=
=
6. =
=
S=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
káÖÉêá~=
káÖÉêá~=áë=íÜÉ=Ççãáå~åí=ÜóÇêçÅ~êÄçå=Éåíáíó=áå=íÜÉ=êÉÖáçåK=láä=Ü~ë=éä~óÉÇ=íÜÉ=éêáã~êó=êçäÉ=~åÇ=
ÄÉÅ~ìëÉ=çééçêíìåáíáÉë=Ñçê=íÜÉ=äçÅ~ä=ìëÉ=çÑ=Ö~ë=Ü~îÉ=ÄÉÉå=äáãáíÉÇI=ÜáëíçêáÅ~ääó=ÉñíÉåëáîÉ=èì~åíáíáÉë=çÑ=
Ö~ë=Ü~îÉ=ÄÉÉå=Ñä~êÉÇK=jçêÉ=êÉÅÉåíäóI=ïáíÜ=ä~êÖÉ=ÑáåÇëI=ã~àçê=Åçãé~åáÉë=Ü~îÉ=ÇÉîÉäçéÉÇ=ikd=áå=
káÖÉêá~=~åÇ=íÜÉêÉ=~êÉ=åçï=ëáñ=ikd=íê~áåëI=ïáíÜ=~=ëÉîÉåíÜ=~í=~å=~Çî~åÅÉÇ=ëí~ÖÉK=få=OMMUI=káÖÉêá~=
éìÄäáëÜÉÇ=áíë=j~ëíÉê=d~ë=mä~åI=ëíáéìä~íáåÖ=íÜ~í=OMB=çÑ=êÉëÉêîÉë=ÄÉ=Ñçê=ÇçãÉëíáÅ=ìëÉ=~í=~=éêáÅÉ=çÑ=
ÄÉíïÉÉå=ANJNKRLjpÅÑ=~åÇ=AMKRLjpÅÑK=fí=~äëç=ëÉí=íÜÉ=éêçÖê~ããÉ=íç=Éäáãáå~íÉ=Ñä~êáåÖK=
cáêëí=d~ëçä=ikd=éêçÇìÅíáçå=í~êÖÉíÉÇ=áå=OMNQ=
d~ëçä=áë=ÅìêêÉåíäó=áå=ÇáëÅìëëáçåë=ïáíÜ=î~êáçìë=é~êíáÉë=áå=káÖÉêá~=íç=ëÉÅìêÉ=~=ëìÑÑáÅáÉåíäó=ä~êÖÉ=ëçìêÅÉ=
çÑ=Ö~ë=Ñêçã=íïç=íç=ÑáîÉ=ÑáÉäÇë=íç=àìëíáÑó=~å=ikd=áåîÉëíãÉåí=EOJRíÅÑF=íÜêçìÖÜ=åÉÖçíá~íáçåë=ïáíÜ=ëÉîÉê~ä=
çïåÉêë=çÑ=~í=éêÉëÉåí=åçåJãçåÉíáëÉÇ=Ö~ëK=d~ëçä=áë=ïçêâáåÖ=íç=~ééçáåí=íÉÅÜåáÅ~ä=é~êíåÉêë=ÇìêáåÖ=
nQMV=ïáíÜ=íÜÉ=áåíÉåíáçå=çÑ=ëÉÅìêáåÖ=~=Ö~ë=~ëëÉí=ÄÉÑçêÉ=íÜÉ=óÉ~êJÉåÇK=`çåÅÉéíì~ä=~åÇ=ÑêçåíJÉåÇ=
ÉåÖáåÉÉêáåÖ=ëíìÇáÉë=ÅçìäÇ=ÄÉ=ëí~êíÉÇ=~ë=É~êäó=~ë=OMNM=ïáíÜ=~=Ñáå~ä=áåîÉëíãÉåí=ÇÉÅáëáçå=ëáÖåÉÇ=çÑÑ=
ãçëí=äáâÉäó=áå=eNNNK=fÑ=íÜáë=íáãÉí~ÄäÉ=áë=ãÉíI=Ñáêëí=ikd=éêçÇìÅíáçå=ÅçìäÇ=ÄÉ=~ÅÜáÉîÉÇ=áå=OMNQK=
fí=Ü~ë=ëÉîÉê~ä=âÉó=êÉä~íáçåëÜáéë=áå=éä~ÅÉW=
• fí=áë=áå=~Çî~åÅÉÇ=ëí~ÖÉë=çÑ=åÉÖçíá~íáçå=ïáíÜ=ëÉîÉê~ä=çïåÉêë=çÑ=Ö~ëI=ïÜáÅÜ=áë=~í=éêÉëÉåí=
ìåãçåÉíáëÉÇ=ïáíÜ=íÜÉ=~áã=çÑ=ÄìáäÇáåÖ=~=kpmp=ikd=ëóëíÉãK=pÉÅìêáåÖ=Ñáêëí=Ö~ë=~ëëÉíë=
äáâÉäó=íêáÖÖÉê=íç=ëÉÅìêÉ=êÉã~áåáåÖ=~ëëÉíë=èìáÅâäó=
• píê~íÉÖáÅ=é~êíåÉêëÜáé=EjçrF=ïáíÜ=^ÑêÉåI=~å=^ÑêáÅ~å=bCm=áåÇÉéÉåÇÉåíI=ÅìêêÉåíäó=ïáíÜ=NS=
~ëëÉíë=áå=ëáñ=ÅçìåíêáÉë=áå=^ÑêáÅ~K=d~ëçä=Ü~ë=êáÖÜíë=çÑ=Ñáêëí=êÉÑìë~ä=çîÉê=~ää=Ö~ë=ÇáëÅçîÉêÉÇ=
Äó=^ÑêÉå=áå=íÜÉëÉ=ÅçìåíêáÉëK=
• qÉÅÜåáÅ~ä=~ääá~åÅÉ=ïáíÜ=jìëí~åÖI=ÅÉåíêÉÇ=çå=íÜÉ=ÇÉîÉäçéãÉåí=çÑ=~=ìåáèìÉ=äáèìÉÑ~Åíáçå=
éêçÅÉëëK==
• aáëÅìëëáçåë=ïáíÜ=ëÉîÉê~ä=ëíê~íÉÖáÅ=é~êíåÉêë=EëìÅÜ=~ë=bÇcF=~åÇ=ikd=çÑÑí~âÉêë=~ë=éêçàÉÅí=
é~êíáÅáé~åíë=~åÇ=Ñçê=íÜÉ=ë~äÉ=çÑ=ikd=áåíç=íÜÉ=äìÅê~íáîÉ=bìêçéÉ~å=~åÇ=çíÜÉê=ÖäçÄ~ä=
ã~êâÉíëK=
bñÜáÄáí=QW=mçíÉåíá~ä=íáãÉäáåÉ=çå=pbk`l=éêçàÉÅí=
1st Gas 1st FEED 1st FID signed 1st LNG
acquisition H2 signed H1 H2 2010 – H1 production
2009 2010 2011 H1 2014
=
pçìêÅÉW=d~ëçä====
=
7. =
=
T=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
bèì~íçêá~ä=dìáåÉ~==
få=bèì~íçêá~ä=dìáåÉ~=íÜÉ=Åçãé~åó=Ü~ë=~=RMB=ëí~âÉ=áå=plk^cI=~=gs=ïáíÜ=pçå~Ö~ë=Ó=íÜÉ=ëí~íÉ=çáä=
Åçãé~åó=Ó=ïÜáÅÜ=~äêÉ~Çó=ëáÖåÉÇ=~=eÉ~Çë=çÑ=^ÖêÉÉãÉåí=ïáíÜ=bññçåjçÄáä=Ñçê=íÜÉ=êáÖÜíë=íç=Äìó=~ää=
íÜÉ=Ö~ë=ÅìêêÉåíäó=ÄÉáåÖ=Ñä~êÉÇ=áå=_äçÅâ=_=çÑ=íÜÉ=íÜÉ=w~Ñáêç=ÑáÉäÇK=
qÜÉ=w~Ñáêç=ÇÉîÉäçéãÉåí=áë=çéÉê~íÉÇ=Äó=bññçåjçÄáä=~åÇ=éêçÇìÅÉÇ=~å=~îÉê~ÖÉ=çÑ=OMMâÄçéÇ=áå=OMMU=
~ÅÅçêÇáåÖ=íç=íÜÉ=jáåáëíêó=çÑ=båÉêÖó=áå=bèì~íçêá~ä=dìáåÉ~K=qÜÉ=ÑáÉäÇ=~äëç=Ñä~êÉÇ=ÅOOMjjpÅÑLÇ=çÑ=Ö~ë=
áå=OMMUI=~äíÜçìÖÜ=íÜáë=áë=ÇÉÅêÉ~ëáåÖ=ÅìêêÉåíäó=íç=ÅNUMjjpÅÑLÇI=ïÜáÅÜ=áë=ëíáää=~=îÉêó=ëáÖåáÑáÅ~åí=
~ãçìåíK=tççÇ=j~ÅâÉåòáÉ=Éëíáã~íÉë=íÜ~í=~ëëçÅá~íÉÇ=Ö~ëI=ÇáëëçäîÉÇ=áåíç=íÜÉ=çáä=éÜ~ëÉI=íçÖÉíÜÉê=
ïáíÜ=íÜÉ=Ö~ë=Å~é=EíÜÉ=ÑêÉÉ=Ö~ë=íÜ~í=ëáíë=çå=íçé=çÑ=íÜÉ=çáä=ä~óÉêF=ÅçìäÇ=ÄÉ=ÄÉíïÉÉå=RMM_ÅÑ=~åÇ=
TRM_ÅÑK=
bñÜáÄáí=RW=låëÜçêÉ=ikd=íÉêãáå~ä=áå=mìåí~=bìêçé~I=_áçâç=fëä~åÇI=bd=
=
pçìêÅÉW=jáåáëíêó=çÑ=båÉêÖóI=bèì~íçêá~ä=dìáåÉ~=
qÜÉ=Åçãé~åó=Ü~ë=ÅçããáëëáçåÉÇ=~=êÉëÉêîÉë=êÉéçêí=Ñêçã=oóÇÉê=pÅçíí=íÜ~í=ïáää=ÅÉêíáÑó=ÉñáëíáåÖ=Ö~ë=
êÉëÉêîÉëK=låÉ=äáâÉäó=Ö~ë=ãçåÉíáë~íáçå==êçìíÉ=ÅçìäÇ=ÄÉ=íÜêçìÖÜ=~=éáéÉäáåÉ=íÜ~í=plk^c=ïçìäÇ=åÉÉÇ=íç=
ÄìáäÇ=íç=íÜÉ=^äÄ~=éä~íÑçêã=~çêìåÇ=RMâã=Ñêçã=íÜÉ=w~Ñáêç=ÇÉîÉäçéãÉåíX=~å=~äíÉêå~íáîÉ=çéíáçå=áë=íç=ä~ó=
~=éáéÉäáåÉ=ëíê~áÖÜí=íç=íÜÉ=_áçâç=fëä~åÇ=~ééêçñ=UMhã=~ï~óK=
qÜÉ=^äÄ~=éä~íÑçêã=áë=~=Ö~ë=ÅçåÇÉåë~íÉ=ÑáÉäÇ=éêçÇìÅáåÖ=Å=UTMjjpÅÑLÇK=fí=Ü~ë=~=Ö~ë=Éñéçêí=éáéÉäáåÉ=
íÜ~í=íáÉë=áåíç=íÜÉ=çåëÜçêÉ=ikd=íÉêãáå~ä=áå=mìåí~=bìêçé~=çå=íÜÉ=áëä~åÇ=ïáíÜ=~=Å~é~Åáíó=çÑ=PKTjäå=
íçååÉëLóK=^ÅÅçêÇáåÖ=íç=ÖçîÉêåãÉåí=Éëíáã~íÉëI=íÜÉêÉ=ïáää=ÄÉ=ëé~êÉ=íÜêçìÖÜéìí=Å~é~Åáíó=íÜ~í=Ü~ë=
~äêÉ~Çó=ÄÉÉå=Åçåíê~ÅíÉÇ=íç=_dI=ïÜáÅÜ=áë=êÉëéçåëáÄäÉ=Ñçê=ã~êâÉíáåÖ=íÜÉ=äáèìÉÑáÉÇ=Ö~ëK=qÜÉ=Ö~ë=Ñêçã=
íÜÉ=w~Ñáêç=ÇÉîÉäçéãÉåí=ÅçìäÇ=ÅçìåíÉêÄ~ä~åÅÉ=íÜÉ=ÇÉÅäáåáåÖ=çìíéìí=çÑ=íÜÉ=^äÄ~=ÑáÉäÇX=w~Ñáêç=Ö~ë=ÅçìäÇ=
ÄÉ=êçìíÉÇ=íç=~=ëÉÅçåÇ=íê~áå=áå=bd=ikd=éä~åíI=áå=íÜÉ=ÉîÉåí=ëìÅÜ=~å=ÉñíÉåëáçå=í~âÉë=éä~ÅÉK==
ikd=éêçàÉÅí=ëíêìÅíìêÉ=
mêçàÉÅí=ëíêìÅíìêÉ=ïáää=ÄÉ=ÇÉéÉåÇÉåí=çå=íÜÉ=ëéÉÅáÑáÅ=ÇÉîÉäçéãÉåíK=cçê=Éñ~ãéäÉI=Ñçê=~=Oãéí~=éêçàÉÅíI=
~=ëÉé~ê~íÉ=ÚãáÇJëíêÉ~ãÛ=Åçãé~åó=Eçê=éçëëáÄäó=Åçãé~åáÉëF=ïçìäÇ=ÄÉ=ëÉí=ìé=íç=ÄìáäÇ=~åÇ=çéÉê~íÉ=
íÜÉ=éáéÉäáåÉë=~åÇ=Ö~íÜÉêáåÖ=ëóëíÉãI=~åÇ=ikd=éêçÅÉëëáåÖ=éä~åíK=qÜáë=Åçãé~åó=ïçìäÇ=~ÅèìáêÉ=Ö~ë=
=
8. =
=
U=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
ÉáíÜÉê=Ñêçã=ÉñáëíáåÖ=çïåÉêë=íÜêçìÖÜ=~å=çÑÑí~âÉ=~ÖêÉÉãÉåí=çê=íÜêçìÖÜ=ÇáêÉÅí=ìéëíêÉ~ã=Éèìáíó=áåíÉêÉëí=
Äó=^ÑêÉåK=qÜÉ=Åçãé~åó=ïçìäÇ=ÉåíÉê=áåíç=äçåÖJíÉêã=Ñçêï~êÇ=Åçåíê~Åíë=Ñçê=íÜÉ=ë~äÉ=çÑ=ikd=áå=
bìêçéÉ~å=Eçê=çíÜÉêF=ã~êâÉíëK=qÜÉ=é~êíáÉë=EìéëíêÉ~ãI=ëÜáééáåÖI=Ö~ë=çÑÑí~âÉêë=~åÇ=d~ëçäF=ïçìäÇ=í~âÉ=
Éèìáíó=éçëáíáçåë=áå=íÜáë=Åçãé~åóI=ïáíÜ=íÜÉ=éêçéçêíáçåë=íç=ÄÉ=åÉÖçíá~íÉÇK=qÜÉ=äçåÖJíÉêã=Ñçêï~êÇ=
ikd=ë~äÉë=Åçåíê~Åíë=ïçìäÇ=Ñçêã=íÜÉ=Ä~ëáë=çå=ïÜáÅÜ=íç=ëÉÅìêÉ=Ñáå~åÅáåÖ=Ñçê=Å~éáí~ä=ÉñéÉåÇáíìêÉ=áå=
íÜÉ=çêÇÉê=çÑ=ANKTÄåK==
qïçJéÜ~ëÉÇ=éêçàÉÅíë=
^=íóéáÅ~ä=éêçàÉÅí=ÅçìäÇ=ÄÉ=ÇáîáÇÉÇ=áåíç=íïç=éÜ~ëÉI=mêÉJcfa=~åÇ=mçëíJcfaK=
qÜÉ=éêÉJcfa=ëí~ÖÉ=áë=ïÜÉêÉ=íÜÉ=ëÉäÉÅíáçå=çÑ=é~êíåÉê=Ñçê=íÜÉ=éêçàÉÅí=ÅçåÅÉéíì~ä=ÇÉëáÖå=
í~âÉë=éä~ÅÉK=tÉ=ïçìäÇ=ÉñéÉÅí=d~ëçä=íç=êÉí~áå=RMB=Éèìáíó=áå=íÜÉ=éêçàÉÅí=~í=íÜáë=ëí~ÖÉK=
`çëíë=ÅçìäÇ=î~êó=ÄÉíïÉÉå=ANMM=~åÇ=AOMMãK=
aìêáåÖ=íÜÉ=éçëíJcfa=ëí~ÖÉ=ïÜÉå=íÜÉ=ikd=ÅçåëíêìÅíáçå=áë=ÄÉáåÖ=Å~êêáÉÇ=çìí=áí=áë=îÉêó=äáâÉäó=
íÜ~í=íÜÉ=Åçãé~åó=ïáää=ëÉää=Ççïå=áíë=ëí~âÉ=íç=ëçãÉíÜáåÖ=ÄÉíïÉÉå=RJOMB=ÇìÉ=íç=ÜáÖÜ=
`^mbu=êÉèìáêÉãÉåíëK=qóéáÅ~ä=`^mbu=Ñçê=~=ëã~ää=ëÅ~äÉ=ikd=éêçàÉÅí=ÅçìäÇ=î~êó=ÄÉíïÉÉå=
ANKRÄå=~åÇ=AOKRÄåK=
qÜÉ=Åçãé~åó=áë=ÉñéÉÅíÉÇ=íç=~ÅÅêìÉ=î~äìÉ=áå=É~ÅÜ=ëìÅÅÉëëáîÉ=ëíÉé=~ë=~åÇ=áÑ=áíë=éêçàÉÅí=éçêíÑçäáç=
éêçÖêÉëëÉë=íçï~êÇë=cfa=ëí~ÖÉI=ïÜÉå=íÜÉ=éêçàÉÅíë=ïáää=ÄÉ=ëìÄëí~åíá~ääó=ÇÉJêáëâÉÇK=
bñÜáÄáí=SW=mêÉ=~åÇ=éçëí=cfa=ëí~ÖÉë=
1‐3 years FID 3‐4 years
Prove up gas Gas Asset Development
Upstream Development
Gas Aggregation Pipeline Construction
Aggregation ‐
Scoping
Pre FEED &
FEED
Financing Construction
LNG Plant
Charter
Shipping Agreements
Securing Access
to Regas
Regasification & Pipelines
=
pçìêÅÉW=d~ëçä====
j~å~ÖÉãÉåí=
qÜÉ=dìäÑ=çÑ=dìáåÉ~=áë=~=ÅÜ~ääÉåÖáåÖ=êÉÖáçå=áå=ïÜáÅÜ=íç=ÄêáåÖ=éêçàÉÅíë=íç=ÑêìáíáçåK=qÜÉ=Åçãé~åóÛë=
äÉ~ÇÉêëÜáé=Ü~ë=ÉñíÉåëáîÉ=ÉñéÉêáÉåÅÉ=ÖÉííáåÖ=Ö~ë=éêçàÉÅíë=çÑÑ=íÜÉ=ÖêçìåÇI=~ë=ïÉää=~ë=çÑ=íÜÉ=êÉÖáçåK=
qÜÉç=lÉêäÉã~åëI=ÅÜ~áêã~åI=Ü~ë=çîÉê=QM=óÉ~êëÛ=ÉñéÉêáÉåÅÉ=áå=Ö~ë=~åÇ=ikdI=áå=íÜÉ=ÇÉîÉäçéãÉåí=
~åÇ=ã~å~ÖÉãÉåí=çÑ=pÜÉääÛë=áåíÉêå~íáçå~ä=Ö~ë=~åÇ=ikd=ÄìëáåÉëëK=^ë=~=ÇáêÉÅíçê=çÑ=pÜÉää=fåíÉêå~íáçå~ä=
d~ë=iíÇI=ÜÉ=ï~ë=áåîçäîÉÇ=áå=íÜÉ=ÇÉîÉäçéãÉåí=çÑ=ikd=éêçàÉÅíë=áå=p~âÜ~äáåI=lã~åI=_êìåÉá=~åÇ=
j~ä~óëá~K=eÉ=ï~ë=`bl=çÑ=káÖÉêá~=ikd=iíÇ=Ñêçã=NVVP=íç=NVVTI=ïÜÉå=ÜÉ=ëìÅÅÉëëÑìääó=ÄêçìÖÜí=
káÖÉêá~Ûë=Ñáêëí=ikd=íê~áå=íç=ÑêìáíáçåK==
pçìãç=_çëÉI=`blI=Ü~ë=~å=ÉñíÉåëáîÉ=áåíÉêå~íáçå~ä=Å~êÉÉê=ëé~ååáåÖ=OP=óÉ~êëI=ãçëí=êÉÅÉåíäó=
çéÉê~íáåÖ=~í=ëÉåáçê=äÉîÉäë=áå=íÜÉ=_d=dêçìéI=pes=d~ë=~åÇ=`~äçêÖ~ëK=eÉ=Ü~ë=äáîÉÇ=~åÇ=ïçêâÉÇ=áå=
bÖóéíI=`Üáå~I=fåÇá~I=íÜÉ=rhI=cê~åÅÉ=~åÇ=íÜÉ=kÉíÜÉêä~åÇëK=eÉ=ï~ë=`cl=~åÇ=_dÛë=ëÉåáçê=
êÉéêÉëÉåí~íáîÉ=~í=bÖóéíá~å=ikdI=~=AOÄå=ikd=àçáåí=îÉåíìêÉK==
=
9. =
=
V=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
gÉ~å=sÉêãÉáêÉI=ëíê~íÉÖáÅ=~ÇîáëÉêI=áë=ÅìêêÉåíäó=íÜÉ=åçåJÉñÉÅìíáîÉ=ÅÜ~áêã~å=çÑ=aáëíêáÖ~ëI=~=€QKRÄå=
_ÉäÖá~åJÄ~ëÉÇ=å~íìê~ä=Ö~ë=Åçãé~åóK=eÉ=ïçêâÉÇ=Ñçê=íÜÉ=`ÜÉîêçå=`çêéçê~íáçå=Ñçê=NT=óÉ~êëK=^ãçåÖ=
çíÜÉê=~ééçáåíãÉåíëI=ÜÉ=áë=ÅìêêÉåíäó=~=ãÉãÄÉê=çÑ=íÜÉ=ëìéÉêîáëçêó=Äç~êÇ=çÑ=kÉÇÉêä~åÇëÉ=d~ëìåáÉ=
~åÇ=éêÉëáÇÉåí=çÑ=íÜÉ=m~êáëJÄ~ëÉÇ=fåíÉêå~íáçå~ä=dêçìé=çÑ=ikd=fãéçêíÉêëK=
bíÜÉäÄÉêí=`ççéÉêI=ëíê~íÉÖáÅ=~ÇîáëÉê=~åÇ=ÑçìåÇáåÖ=ãÉãÄÉê=çÑ=^ÑêÉåI=Ü~ë=ÄÉÉå=~ÅíáîÉ=áå=íÜÉ=^ÑêáÅ~å=
å~íìê~ä=êÉëçìêÅÉë=ëÉÅíçê=Ñçê=çîÉê=OR=óÉ~êëK=aìêáåÖ=íÜÉ=NVUMë=ÜÉ=ÇÉîáëÉÇ=~åÇ=äÉÇ=~å=áåáíá~íáîÉ=íç=
êÉëíêìÅíìêÉ=iáÄÉêá~Ûë=íÜÉå=ÄáÖÖÉëí=áåÇìëíêá~ä=éêçàÉÅíI=~=ASMMã=áêçå=çêÉ=ãáåáåÖ=Åçãé~åóK=eÉ=áë=~=
ÑçìåÇáåÖ=ãÉãÄÉê=~åÇ=ÅÜ~áêã~å=çÑ=íÜÉ=iáÄÉêá~å=fåíÉêå~íáçå~ä=aÉîÉäçéãÉåí=cçìåÇ~íáçåK==
pÉåëáíáîáíáÉë=
mêçàÉÅí=êáëâ=
qÜÉ=âÉó=êáëâë=íç=íÜáë=éêçàÉÅí=~êÉ=íÜçëÉ=çÑ=éêçàÉÅí=ã~å~ÖÉãÉåí=~åÇ=âÉÉéáåÖ=~ää=íÜÉ=ÉäÉãÉåíë=
íçÖÉíÜÉêI=áåÅäìÇáåÖW=
• pìÑÑáÅáÉåí=Ö~ë=ëìééäó=Ó=^ÑêÉåI=ïáíÜ=Ñìää=ëìÄëìêÑ~ÅÉ=ÉñéÉêíáëÉI=Ü~ë=ÅÜÉÅâÉÇ=íÜÉ=êÉëÉêîçáê=
Ç~í~=çÑ=í~êÖÉí=Ö~ë=ÑáÉäÇëI=Äìí=íÜÉêÉ=áë=~äï~óë=êáëâ=áå=êÉëÉêîçáê=Éëíáã~íáçåK=
• péÉÅá~äáëí=ëÜáééáåÖ=Ó=áå=Ü~åÇë=çÑ=~=íÜáêÇ=é~êíóK=
• qÜÉ=Ñáå~åÅáåÖ=çÑ=íÜÉ=ãáÇJëíêÉ~ã=Åçãé~åáÉëI=Ä~ëÉÇ=çå=íÜÉ=Ñçêï~êÇ=ë~äÉë=çÑ=ikdK=
• qÉÅÜåáÅ~ä=êáëâ=Ó=íÜÉ=íÉÅÜåçäçÖó=áë=ÅìêêÉåíäó=ìåéêçîÉå=çå=Ä~êÖÉëK=
cáå~åÅáåÖ=êáëâ=
cáå~åÅáåÖ=ïáää=ÄÉ=~=ëáÖåáÑáÅ~åí=ÅÜ~ääÉåÖÉ=áå=íÜÉ=éêÉëÉåí=ã~êâÉíI=Äìí=íÜÉ=å~íìêÉ=çÑ=íÜÉ=éêçàÉÅí=ëÜçìäÇ=
~ííê~Åí=áåíÉêÉëí=Ñêçã=Ñáå~åÅáåÖ=áåëíáíìíáçåë=ëìÅÜ=~ë=^ÑêáÅ~=ÑçÅìëÉÇ=ÑìåÇëI=fc`I=ÉíÅK=
mçäáíáÅ~ä=êáëâ=
^äíÜçìÖÜ=íÜÉêÉ=áë=çÑíÉå=~=ÇÉÖêÉÉ=çÑ=êáëâ=çéÉê~íáåÖ=áå=^ÑêáÅ~I=káÖÉêá~=Ü~ë=ÄÉÉå=êÉä~íáîÉäó=ëí~ÄäÉ=
êÉÅÉåíäóK=d~ëçä=Ü~ë=ÖççÇ=êÉä~íáçåëÜáé=ïáíÜ=íÜÉ=~ìíÜçêáíáÉëI=~åÇ=Ü~ë=éä~åë=íç=çéÉê~íÉ=áå=ëÉîÉê~ä=dìäÑ=
çÑ=dìáåÉ~=ÅçìåíêáÉëI=ïÜáÅÜ=ïáää=ëéêÉ~Ç=áíë=éçäáíáÅ~ä=êáëâK==
cçêÉáÖå=ÅìêêÉåÅó=êáëâ=
qÜÉ=ÅìêêÉåÅáÉë=çÑ=íÜÉ=êÉÖáçå=~êÉ=áå=ÖÉåÉê~ääó=åçåJÅçåîÉêíáÄäÉK=mêçàÉÅíë=ïáää=ÇÉéÉåÇ=çå=íÜÉ=ÑçêÉáÖå=
ÅìêêÉåÅó=É~êåáåÖë=ÖÉåÉê~íÉÇ=Ñêçã=íÜÉ=áåíÉêå~íáçå~ä=ë~äÉ=çÑ=ikd=ÄÉáåÖ=~î~áä~ÄäÉ=íç=ãÉÉí=íÜÉ=Å~éáí~ä=
ÉñéÉåÇáíìêÉ=~åÇ=äç~å=êÉé~óãÉåí=åÉÉÇë=çÑ=íÜÉ=Åçãé~åóK=^Ö~áåI=d~ëçä=Ü~ë=éä~åë=íç=çéÉê~íÉ=áå=
ëÉîÉê~ä=dìäÑ=çÑ=dìáåÉ~=ÅçìåíêáÉëI=ïÜáÅÜ=ïáää=ëéêÉ~Ç=íÜáë=êáëâK=
mêáÅÉ=êáëâ=
låÅÉ=~=éêçàÉÅí=Ü~ë=ÄÉÉå=ë~åÅíáçåÉÇ=Ö~ë=éêáÅÉ=îçä~íáäáíó=áë=íóéáÅ~ääó=çîÉêÅçãÉ=ïáíÜ=äçåÖJíÉêã=Ö~ë=
Åçåíê~ÅíëI=ïÜáÅÜ=ÅçìäÇ=ÄÉ=íáÉÇ=íç=íÜÉ=çáä=éêáÅÉK=eçïÉîÉêI=íÜÉ=î~äìÉ=çÑ=íÜÉ=ikd=éêçàÉÅí=äáÉë=áå=íÜÉ=
ã~êÖáå=ÄÉíïÉÉå=ìéëíêÉ~ã=Ö~ë=éìêÅÜ~ëÉë=~åÇ=ïÜçäÉë~äÉ=Ö~ë=éêáÅÉë=~åÇ=áí=áë=ÉëëÉåíá~ä=Ñçê=íÜÉ=
éêçÑáí~Äáäáíó=çÑ=íÜÉ=éêçàÉÅí=íÜ~í=íÜáë=ã~êÖáå=êÉã~áåë=ïáÇÉ=ÉåçìÖÜ=íç=ÅçîÉê=çéÉê~íáåÖ=ÅçëíëK=
=
=
10. =
=
NM=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
s~äì~íáçå=
_~ëÉÇ=çå=íÜÉ=íïç=ãçëí=~Çî~åÅÉÇ=éêçàÉÅíë=áå=káÖÉêá~=~åÇ=bèì~íçêá~ä=dìáåÉ~I=ïÉ=î~äìÉ=íÜÉ=Åçãé~åó=
~í=¡VMãI=çê=TKRé=çå=~=ÇáäìíÉÇ=Ä~ëáëK=qÜáë=Åçãé~êÉë=íç=~=ÅìêêÉåí=ëÜ~êÉ=éêáÅÉ=çÑ=PéK=eçïÉîÉê=ÅêáíáÅ~ä=
Ñçê=íÜÉ=Ñìää=êÉ~äáë~íáçå=çÑ=íÜáë=î~äìÉ=áë=ëÜçêíJíÉêã=ÑìåÇáåÖ=íç=í~âÉ=íÜÉ=éêçàÉÅíë=íç=cfa=ëí~ÖÉK=_Éäçï=áë=~=
ëìãã~êó=çÑ=íÜÉ=ã~áå=ãçÇÉääáåÖ=~ëëìãéíáçåëW=
j~Åêç=~ëëìãéíáçåë=
• d~ë=éêáÅÉ=äáåâÉÇ=íç=çáä=ATKVRLjpÅÑ=Éèì~äë=íç=ASMLÄÄä=
• d~ë=éìêÅÜ~ëÉ=~í=AMKTRLjpÅÑ==
• láä=éêáÅÉ=ÉëÅ~ä~íáåÖ=~í=OKRB=éÉê=óÉ~ê=
• mêçàÉÅí=ÇáëÅçìåí=ê~íÉ=NRB=
bèì~íçêá~ä=dìáåÉ~=
• qçí~ä=Å~éÉñ=AOPMã=
• d~ëçä=tf=]=RMB=
• kms=åÉí=íç=d~ëçä=AORã=Efoo=OSBF=
• Å=NqÅÑ=éêçàÉÅí=
káÖÉêá~=
• qçí~ä=Å~éÉñ=APÄå=
• d~ëçä=tf=]=ORB=
• kms=åÉí=íç=d~ëçä=AURã=Efoo=OQBF=
• Å=RqÅÑ=
cáå~åÅá~äë=
d~ëçäÛë=ÉåÇJj~êÅÜ=OMMV=Ä~ä~åÅÉ=ëÜÉÉí=ëÜçïÉÇ=Å~ëÜ=çÑ=AMKUãK=få=^ìÖìëí=OMMV=áí=ê~áëÉÇ=¡NãI=
ÄÉáåÖ=íÜÉ=ÅçãéäÉíáçå=çÑ=~=¡Pã=ÑìåÇáåÖ=éêçÖê~ããÉ=~ååçìåÅÉÇ=É~êäáÉêK=_~ëÉÇ=çå=OMMULMV=Å~ëÜJ
Äìêå=çÑ=Å=¡QKRãI=ïÉ=Éëíáã~íÉ=d~ëçäÛë=Å~ëÜ=Ä~ä~åÅÉ=íç=ÄÉ=ÄÉäçï=¡NãI=éçáåíáåÖ=íç=äáâÉäó=ÑìêíÜÉê=ÑìåÇ=
ê~áëáåÖ=áå=íÜÉ=ëÜçêí=íÉêãI=áå=ïÜáÅÜ=^Ñd~ë=~åÇ=^ÑêÉåI=ã~àçê=ëÜ~êÉÜçäÇÉêëI=Ü~îÉ=áåÇáÅ~íÉÇ=íÜÉáê=áåíÉêÉëí=
áå=é~êíáÅáé~íáåÖK=få=~ÇÇáíáçå=íÜÉ=Åçãé~åó=Ü~ë=~=pba^=Ñ~Åáäáíó=íç=Çê~ï=ìé=íç=¡NMã=ÇÉéÉåÇáåÖ=çå=
ëíçÅâ=äáèìáÇáíóK=
^ë=éêçàÉÅíë=ÄÉÅçãÉ=ÑáêãÉêI=éêÉé~ê~íáçå=Åçëíë=Ed~ëçä=Éëíáã~íÉë=éêÉJcfa=Åçëíë=Ñçê=É~ÅÜ=éêçàÉÅí=~í=
AQMJRMãF=ïáää=ÄÉ=Ñáå~åÅÉÇ=íÜêçìÖÜ=~=ãáñ=çÑ=ëíê~íÉÖáÅ=é~êíåÉêëI=éêçàÉÅí=é~êíáÅáé~åíëI=~åÇ=Äó=Ñáå~åÅá~ä=
áåîÉëíçêë=ëìÅÜ=acfëI=^ÑêáÅ~JÑçÅìëÉÇ=ÑìåÇëK=^=Ñìää=éêçàÉÅí=Ñçê=Oãíé~=ïçìäÇ=Åçëí=áå=íÜÉ=çêÇÉê=çÑ=
ANKTÄå=~åÇ=ïçìäÇ=ÄÉ=Ñáå~åÅÉÇ=íÜêçìÖÜ=~=ãáñíìêÉ=çÑ=Éèìáíó=~åÇ=éêçàÉÅí=Ñáå~åÅÉI=áåÅäìÇáåÖ=
ÇÉîÉäçéãÉåí=áåëíáíìíáçåëI=ëìééçêíÉÇ=Äó=äçåÖJíÉêã=ikd=çÑÑí~âÉ=Åçåíê~ÅíëK=
=
11. =
=
NN=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
bñÜáÄáí=TW=cáå~åÅá~äë=
kçíÉW=vÉ~ê=ÉåÇ=ÅÜ~åÖÉÇ=íç=j~êÅÜ=cvMVK=qÜÉ=OMMU=ÑáÖìêÉë=Ü~îÉ=ÄÉÉå=~ÇàìëíÉÇ=íç=êÉÑäÉÅí=íÜÉ=~Åèìáëáíáçå=çÑ=^ÑêáÅ~å=ikd=iáãáíÉÇX=éäÉ~ëÉ=
êÉÑÉê=íç=íÜÉ=d~ëçä=OMMU=fåíÉêáã=pí~íÉãÉåí=Ñçê=ÑìêíÜÉê=ÇÉí~áäK=
¡DMMMë OMMU OMMV OMNMÉ
vÉ~ê=ÉåÇ=OU=cÉÄLPN=j~ê fcop fcop fcop
molcfq=C=ilpp=
oÉîÉåìÉ M M M
`çëí=çÑ=p~äÉë M M M
dêçëë=mêçÑáí M M M
b_fqa^ EQOUF EQIVSSF ERIMNUF
léÉê~íáåÖ=mêçÑáí=EÄÉÑçêÉ=dt=~åÇ=ÉñÅÉéíKF EQOUF ERIMTUF ERIMTUF
fåí~åÖáÄäÉ=^ãçêíáë~íáçå M M M
bñÅÉéíáçå~äë M M M
líÜÉê M M M
léÉê~íáåÖ=mêçÑáí EQOUF ERIMTUF ERIMTUF
kÉí=fåíÉêÉëí N OT EOPRF
mêçÑáí=_ÉÑçêÉ=q~ñ=EåçêãF EQOTF ERIMRNF ERIPNPF
mêçÑáí=_ÉÑçêÉ=q~ñ=Ecop=PF EQOTF ERIMRNF ERIPNPF
q~ñ M M M
mêçÑáí=^ÑíÉê=q~ñ=EåçêãF EQOTF ERIMRNF ERIPNPF
mêçÑáí=^ÑíÉê=q~ñ=Ecop=PF EQOTF ERIMRNF ERIPNPF
^îÉê~ÖÉ=kìãÄÉê=çÑ=pÜ~êÉë=lìíëí~åÇáåÖ=EãF QVTKQ TRPKU NIMTVKP
bmp=J=åçêã~äáëÉÇ=EéF EMKNF EMKTF EMKRF
bmp=J=cop=P=EéF EMKNF EMKTF EMKRF
aáîáÇÉåÇ=éÉê=ëÜ~êÉ=EéF MKM MKM MKM
dêçëë=j~êÖáå=EBF kL^ kL^ kL^
b_fqa^=j~êÖáå=EBF kL^ kL^ kL^
léÉê~íáåÖ=j~êÖáå=EÄÉÑçêÉ=dt=~åÇ=ÉñÅÉéíKF=EBF kL^ kL^ kL^
_^i^k`b=pebbq
cáñÉÇ=^ëëÉíë M PIOQM PIOQM
fåí~åÖáÄäÉ=^ëëÉíë M OIVTV OIVTV
q~åÖáÄäÉ=^ëëÉíë M OSN OSN
fåîÉëíãÉåíë M M M
`ìêêÉåí=^ëëÉíë NOR NIMRN NIMMM
píçÅâë M M M
aÉÄíçêë NS OSV PMM
`~ëÜ NMV TUO TMM
`ìêêÉåí=iá~ÄáäáíáÉë M ERVVF ETMMF
`êÉÇáíçêë M ERVVF ESMMF
pÜçêí=íÉêã=ÄçêêçïáåÖë M M ENMMF
içåÖ=qÉêã=iá~ÄáäáíáÉë ETQF M EQITNPF
içåÖ=íÉêã=ÄçêêçïáåÖë ETQF M EQITNPF
líÜÉê=äçåÖ=íÉêã=äá~ÄáäáíáÉë M M M
kÉí=^ëëÉíë RN PISVO ENINTPF
`^pe=cilt
léÉê~íáåÖ=`~ëÜ=cäçï EQRSF EQIRSTF EQISMMF
kÉí=fåíÉêÉëí= N PU EOPRF
q~ñ M M M
`~éÉñ M ESNF ESMF
^ÅèìáëáíáçåëLÇáëéçë~äë M M M
cáå~åÅáåÖ RRM RIPQV M
aáîáÇÉåÇë M M M
kÉí=`~ëÜ=cäçï VR TRV EQIUVRF
léÉåáåÖ=åÉí=ÇÉÄíLEÅ~ëÜF SM EPRF ETUOF
em=Ñáå~åÅÉ=äÉ~ëÉë=áåáíá~íÉÇ M M M
líÜÉê M ENOF M
`äçëáåÖ=åÉí=ÇÉÄíLEÅ~ëÜF EPRF ETUOF QINNP =
pçìêÅÉW=`çãé~åó=~ÅÅçìåíëLbÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=
=
12. =
=
NO=ö=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=ö=lìíäççâ=ö=d~ëçä=ö=PM=pÉéíÉãÄÉê=OMMV=
=
dêçïíÜ= mêçÑáí~Äáäáíó= _~ä~åÅÉ=ëÜÉÉí=ëíêÉåÖíÜ= pÉåëáíáîáíáÉë=Éî~äì~íáçå=
kL^= kL^= kL^= iáíáÖ~íáçåLêÉÖìä~íçêó= =
mÉåëáçåë= =
`ìêêÉåÅó= =
píçÅâ=çîÉêÜ~åÖ= =
fåíÉêÉëí=ê~íÉë= =
láäLÅçããçÇáíó=éêáÅÉë= =
=
dêçïíÜ=ãÉíêáÅë= B= mêçÑáí~Äáäáíó=ãÉíêáÅë= B= _~ä~åÅÉ=ëÜÉÉí=ãÉíêáÅë= `çãé~åó=ÇÉí~áäë=
bmp=`^do=MSJNMÉ= kL^= ol`b=MVÉ= kL^= dÉ~êáåÖ=MVÉ= kL^= ^ÇÇêÉëëW=
bmp=`^do=MUJNMÉ= kL^= ^îÖ=ol`b=MSJNMÉ= kL^= fåíÉêÉëí=ÅçîÉê=MVÉ= kL^= QM=kÉï=_çåÇ=píêÉÉí=
içåÇçå==
b_fqa^=`^do=MSJNMÉ= kL^= olb=MVÉ= kL^= `^L`i=MVÉ= kL^= tNp=OouI=rh=
b_fqa^=`^do=MUJNMÉ= kL^= dêçëë=ã~êÖáå=MVÉ= kL^= píçÅâ=íìêå=MVÉ= kL^= mÜçåÉ= MOM=TOVM=PPMM=
p~äÉë=`^do=MSJNMÉ= kL^= léÉê~íáåÖ=ã~êÖáå=MVÉ= kL^= aÉÄíçê=Ç~óë=MVÉ= kL^= c~ñ= MOM=TRMQ=USPN=
p~äÉë=`^do=MUJNMÉ= kL^= dê=ãÖå=L=lé=ãÖå=MVÉ= kL^= `êÉÇáíçê=Ç~óë=MVÉ= kL^= ïïïKÖ~ëçäéäÅKÅçã=
=
mêáåÅáé~ä=ëÜ~êÉÜçäÇÉêë= B= j~å~ÖÉãÉåí=íÉ~ã=
^ÑêáÅ~å=d~ë=aÉîÉäçéãÉåí= RMKU= `blW=pçìãç=_çëÉ=
^ÑêÉå=mi`= ONKP= pçìãç=_çëÉ=Ü~ë=Ü~Ç=~=OPJóÉ~ê=Å~êÉÉêI=áåÅäìÇáåÖ=ïçêâ=áå=
póåÉêÖó=eçäÇáåÖë=iíÇ= TKP= bÖóéíI=`Üáå~I=fåÇá~I=íÜÉ=rhI=cê~åÅÉ=~åÇ=íÜÉ=kÉíÜÉêä~åÇëK=eÉ=
ï~ë=`cl=~í=_d=dêçìéÛë=bÖóéíá~å=ikdI=~åÇ=ÜÉäÇ=ëÉåáçê=
= = éçëáíáçåë=~í=pes=d~ëK=eÉ=Ü~ë=ïçêâÉÇ=ïáíÜ=äÉ~ÇáåÖ=Äê~åÇë=
= = ëìÅÜ=~ë=`~äçêÖ~ë=~åÇ=mêáã~Ö~òK==
= = píê~íÉÖáÅ=^ÇîáëçêW=gÉ~å=sÉêãÉáêÉ=
= = `ìêêÉåíäó=åçåJÉñÉÅìíáîÉ=ÅÜ~áêã~å=çÑ=aáëíêáÖ~ë=~åÇ=~=ãÉãÄÉê=
çÑ=íÜÉ=pìéÉêîáëçêó=_ç~êÇ=çÑ=kÉÇÉêä~åÇëÉ=d~ëìåáÉ=~åÇ=
cçêíÜÅçãáåÖ=~ååçìåÅÉãÉåíëLÅ~í~äóëíë= a~íÉ=G= mêÉëáÇÉåí=çÑ=íÜÉ=m~êáëJÄ~ëÉÇ=fåíÉêå~íáçå~ä=dêçìé=çÑ=ikd=
fãéçêíÉêëKK=
mêÉäáãáå~êó=êÉëìäíë= j~ó=
fåíÉêáãë= kçîÉãÄÉê= `Ü~áêã~åW=qÜÉç=lÉêäÉã~åë==
= = qÜÉç=lÉêäÉã~åë=Ü~ë=QM=óÉ~êëÛ=ÉñéÉêáÉåÅÉ=áå=Ö~ë=~åÇ=ikdK=
cçê=pÜÉääI=ÜÉ=ï~ë=áåîçäîÉÇ=áå=ikd=ÇÉîÉäçéãÉåí=áå=p~âÜ~äáåI=
= = lã~åI=_êìåÉá=~åÇ=j~ä~óëá~K=eÉ=ï~ë=`bl=çÑ=káÖÉêá~=ikd=äíÇ=
kçíÉW=G=Z=Éëíáã~íÉÇ= = Ñêçã=NVVP=íç=NVVTI=ÄêáåÖáåÖ=káÖÉêá~Ûë=Ñáêëí=ikd=íê~áå=íç=ÑêìáíáçåK=
= =
=
=
=
=
bafplk=fksbpqjbkq=obpb^o`e=ifjfqba=
bÇáëçå=áë=bìêçéÉÛë=äÉ~ÇáåÖ=áåÇÉéÉåÇÉåí=áåîÉëíãÉåí=êÉëÉ~êÅÜ=Åçãé~åóK=táíÜ=~=íÉ~ã=çÑ=RM=áåÅäìÇáåÖ=çîÉê=PM=~å~äóëíë=ëìééçêíÉÇ=Äó=~=ÇÉé~êíãÉåí=çÑ=ëìéÉêîáëçêó=~å~äóëíëI=ÉÇáíçêë=~åÇ=
~ëëáëí~åíëI=bÇáëçå=ïêáíÉë=çå=ãçêÉ=íÜ~å=OMM=Åçãé~åáÉë=~Åêçëë=ÉîÉêó=ëÉÅíçêK=tçêâáåÖ=ÇáêÉÅíäó=ïáíÜ=Åçêéçê~íÉëI=áåîÉëíãÉåí=Ä~åâë=~åÇ=ÑìåÇ=ã~å~ÖÉêëI=bÇáëçåÛë=êÉëÉ~êÅÜ=áë=êÉ~Ç=Äó=
ÉîÉêó=ã~àçê=áåëíáíìíáçå~ä=áåîÉëíçê=áå=íÜÉ=rhI=~ë=ïÉää=~ë=Äó=íÜÉ=éêáî~íÉ=ÅäáÉåí=ÄêçâÉê=~åÇ=áåíÉêå~íáçå~ä=áåîÉëíçê=ÅçããìåáíáÉëK=bÇáëçå=ï~ë=ÑçìåÇÉÇ=áå=OMMP=~åÇ=áë=~ìíÜçêáëÉÇ=~åÇ=êÉÖìä~íÉÇ=
Äó=íÜÉ=cáå~åÅá~ä=pÉêîáÅÉë=^ìíÜçêáíóK=
=
afp`i^fjbo=
`çéóêáÖÜí=OMMV=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=iáãáíÉÇK=^ää=êáÖÜíë=êÉëÉêîÉÇK=qÜáë=êÉéçêí=Ü~ë=ÄÉÉå=ÅçããáëëáçåÉÇ=Äó= d~ëçä=~åÇ=éêÉé~êÉÇ=~åÇ=áëëìÉÇ=Äó=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=
iáãáíÉÇ=Ñçê=éìÄäáÅ~íáçå=áå=íÜÉ=råáíÉÇ=háåÖÇçãK=^ää=áåÑçêã~íáçå=ìëÉÇ=áå=íÜÉ=éìÄäáÅ~íáçå=çÑ=íÜáë=êÉéçêí=Ü~ë=ÄÉÉå=ÅçãéáäÉÇ=Ñêçã=éìÄäáÅäó=~î~áä~ÄäÉ=ëçìêÅÉë=íÜ~í=~êÉ=ÄÉäáÉîÉÇ=íç=ÄÉ=êÉäá~ÄäÉI=
ÜçïÉîÉê= ïÉ= Çç= åçí= Öì~ê~åíÉÉ= íÜÉ= ~ÅÅìê~Åó= çê= ÅçãéäÉíÉåÉëë= çÑ= íÜáë= êÉéçêíK= léáåáçåë= Åçåí~áåÉÇ= áå= íÜáë= êÉéçêí= êÉéêÉëÉåí= íÜçëÉ= çÑ= íÜÉ= êÉëÉ~êÅÜ= ÇÉé~êíãÉåí= çÑ= bÇáëçå= fåîÉëíãÉåí=
oÉëÉ~êÅÜ= iáãáíÉÇ= ~í=íÜÉ= íáãÉ= çÑ= éìÄäáÅ~íáçåK=qÜÉ= êÉëÉ~êÅÜ= áå= íÜáë= ÇçÅìãÉåí= áë=áåíÉåÇÉÇ= Ñçê= éêçÑÉëëáçå~ä= ~ÇîáëÉêë= áå= íÜÉ= råáíÉÇ= háåÖÇçã= Ñçê= ìëÉ= áå=íÜÉáê= êçäÉë= ~ë= ~ÇîáëÉêëK= fí= áë= åçí=
áåíÉåÇÉÇ=Ñçê=êÉí~áä=áåîÉëíçêëK=qÜáë=áë=åçí=~=ëçäáÅáí~íáçå=çê=áåÇìÅÉãÉåí=íç=ÄìóI=ëÉääI=ëìÄëÅêáÄÉI=çê=ìåÇÉêïêáíÉ=ëÉÅìêáíáÉë=çê=ìåáíëK=qÜáë=ÇçÅìãÉåí=áë=éêçîáÇÉÇ=Ñçê=áåÑçêã~íáçå=éìêéçëÉë=çåäó=
~åÇ=ëÜçìäÇ=åçí=ÄÉ=ÅçåëíêìÉÇ=~ë=~å=çÑÑÉê=çê=ëçäáÅáí~íáçå=Ñçê=áåîÉëíãÉåíK=^=ã~êâÉíáåÖ=ÅçããìåáÅ~íáçå=ìåÇÉê=cp^=oìäÉëI=íÜáë=ÇçÅìãÉåí=Ü~ë=åçí=ÄÉÉå=éêÉé~êÉÇ=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=íÜÉ=
äÉÖ~ä=êÉèìáêÉãÉåíë=ÇÉëáÖåÉÇ=íç=éêçãçíÉ=íÜÉ=áåÇÉéÉåÇÉåÅÉ=çÑ=áåîÉëíãÉåí=êÉëÉ~êÅÜ=~åÇ=áë=åçí=ëìÄàÉÅí=íç=~åó=éêçÜáÄáíáçå=çå=ÇÉ~äáåÖ=~ÜÉ~Ç=çÑ=íÜÉ=ÇáëëÉãáå~íáçå=çÑ=áåîÉëíãÉåí=êÉëÉ~êÅÜK=
bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=iáãáíÉÇ=Ü~ë=~=êÉëíêáÅíáîÉ=éçäáÅó=êÉä~íáåÖ=íç=éÉêëçå~ä=ÇÉ~äáåÖK=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=iáãáíÉÇ=áë=~ìíÜçêáëÉÇ=~åÇ=êÉÖìä~íÉÇ=Äó=íÜÉ=cáå~åÅá~ä=pÉêîáÅÉë=
^ìíÜçêáíó=Ñçê=íÜÉ=ÅçåÇìÅí=çÑ=áåîÉëíãÉåí=ÄìëáåÉëëK=qÜÉ=Åçãé~åó=ÇçÉë=åçí=ÜçäÇ=~åó=éçëáíáçåë=áå=íÜÉ=ëÉÅìêáíáÉë=ãÉåíáçåÉÇ=áå=íÜáë=êÉéçêíK=eçïÉîÉêI=áíë=ÇáêÉÅíçêëI=çÑÑáÅÉêëI=ÉãéäçóÉÉë=~åÇ=
Åçåíê~Åíçêë=ã~ó=Ü~îÉ=~=éçëáíáçå=áå=~åó=çê=êÉä~íÉÇ=ëÉÅìêáíáÉë=ãÉåíáçåÉÇ=áå=íÜáë=êÉéçêíK=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=iáãáíÉÇ=çê=áíë=~ÑÑáäá~íÉë=ã~ó=éÉêÑçêã=ëÉêîáÅÉë=çê=ëçäáÅáí=ÄìëáåÉëë=Ñêçã=
~åó=çÑ=íÜÉ=Åçãé~åáÉë=ãÉåíáçåÉÇ=áå=íÜáë=êÉéçêíK=qÜÉ=î~äìÉ=çÑ=ëÉÅìêáíáÉë=ãÉåíáçåÉÇ=áå=íÜáë=êÉéçêí=Å~å=Ñ~ää=~ë=ïÉää=~ë=êáëÉ=~åÇ=~êÉ=ëìÄàÉÅí=íç=ä~êÖÉ=~åÇ=ëìÇÇÉå=ëïáåÖëK=få=~ÇÇáíáçå=áí=ã~ó=
ÄÉ= ÇáÑÑáÅìäí= çê= åçí= éçëëáÄäÉ= íç= ÄìóI= ëÉää= çê= çÄí~áå= ~ÅÅìê~íÉ= áåÑçêã~íáçå= ~Äçìí= íÜÉ= î~äìÉ= çÑ= ëÉÅìêáíáÉë= ãÉåíáçåÉÇ= áå= íÜáë= êÉéçêíK= m~ëí= éÉêÑçêã~åÅÉ= áë= åçí= åÉÅÉëë~êáäó= ~= ÖìáÇÉ= íç= ÑìíìêÉ=
=
éÉêÑçêã~åÅÉK=
=
bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=
=
=
iáåÅçäå=eçìëÉI=OVSJPMO=eáÖÜ=eçäÄçêåI=içåÇçåI=t`Ns=Tge= =íÉäW=HQQ=EMFOM=PMTT=RTMM= =Ñ~ñW=HQQ=EMFOM=PMTT=RTRM= =ïïïKÉÇáëçåáåîÉëíãÉåíêÉëÉ~êÅÜKÅçKìâ=
oÉÖáëíÉêÉÇ=áå=båÖä~åÇI=åìãÄÉê=QTVQOQQK=bÇáëçå=fåîÉëíãÉåí=oÉëÉ~êÅÜ=áë=~ìíÜçêáëÉÇ=~åÇ=êÉÖìä~íÉÇ=Äó=íÜÉ=cáå~åÅá~ä=pÉêîáÅÉë=^ìíÜçêáíóK==
=