Edición impresa Revista Judicial del 21 de abril de 2011

Page 1

Ä

Ĺ?

(1#!3.1 Ä“ĹŠ ĹŠ ĹŠ }

Ä–ĹŠ

Ä“ĹŠ ĹŠ

ĹŠ

Dk[ijhe fheY[ie eh]Wd_pWj_le j_[d[ iki _d_Y_ei Wfhen_cWZWc[d# j[ Z[iZ[ bW ZƒYWZW Z[ bei i[i[djW" [b c_ice gk[ i[ ^W _Ze \ehjWb[Y_[dZe o ^W f[hc_j_Ze _h \ehckbWdZe fhe# fk[ijWi Wbj[hdWj_lWi fWhW bW h[[i# jhkYjkhWY_ÂŒd Z[b ;ijWZe gk[ i[ ^W YWhWYj[h_pWZe feh i[h ^ece][d_pW# Zeh" Z[iYedeY_[dZe bW Z_l[hi_ZWZ ƒjd_YW" YkbjkhWb o b_d]”‡ij_YW Z[ bW feXbWY_ÂŒd$ ;b ;YkWZeh [i kd fW‡i fbkh_dW# Y_edWb" [d ZedZ[ Yedl_l[d Z_l[hiWi dWY_edWb_ZWZ[i o fk[Xbei _dZ‡][# dWi" Wi‡ Yece bei fk[Xbei W\he[YkW# jeh_Wdei o XbWdYei c[ij_pei" YWZW kde Z[ [bbei Yed YWhWYj[h‡ij_YWi ieY_eYkbjkhWb[i cko fWhj_YkbWh[i" i_d [cXWh]e ZkhWdj[ ZƒYWZWi [b ;ijWZe [YkWjeh_Wde ^W ikXlWbe# hWZe [ _]dehWZe bW fej[dY_W Ykbjk# hWb Z[ bei fk[Xbei$ B7 7:C?D?IJH79?âD :; @KIJ?9?7 ?D:Ăž=;D7 ;D B7 9EDIJ?JK9?âD FEBĂžJ?97 :; '//.$ I_ h[l_iWcei bW 9edij_jkY_ÂŒd Feb‡j_YW [YkWjeh_WdW" gk[ h[]_W Wdj[i Z[ bW h[\ehcW" feZ[cei ZWh# dei Yk[djW Z[ gk[ de i[ ^W h[Ye# deY_Ze bW [n_ij[dY_W `kh‡Z_YW Z[ bei fk[Xbei _dZ‡][dWi o c[dei Wkd i[ feZh‡W ^WXbWh Z[ iki Z[h[Y^ei" [d Wgk[bbWi ƒfeYWi de \k_cei Yedi_# Z[hWZei Yece Y_kZWZWdei$ CkY^ei Wkjeh[i ^Wd Wh]kc[djW# Ze o Z[\[dZ_Ze bW j[eh‡W Z[b ced_i# ce `kh‡Z_Ye" [d [b gk[ Wb ;ijWZe b[ Yehh[ifedZ[ kd iebe Z[h[Y^e e i_i# j[cW `kh‡Z_Ye o l_Y[l[hiW$ :[djhe Z[ [ij[ YedY[fje" de fk[Z[ ^WX[h lWh_ei Z[h[Y^ei e i_ij[cWi `kh‡Z_# Yei Z[djhe Z[ kd c_ice [ifWY_e ][efeb‡j_Ye$ J[eh‡W gk[ ^W i_Ze h[i# fWbZWZe feh ckY^ei 7Xe]WZei o jhWjWZ_ijWi" Wi‡ Yece feh [b ;ijWZe c_ice$ 8W`e [ijei YedY[fjei bei ]eX[h# dWdj[i ^Wd _cfb[c[djWZe [ijhW# j[]_Wi fWhW Z[iYedeY[h o [b_c_dWh bei i_ij[cWi Z[ WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W Z[ bei fk[Xbei o dWY_edW# b_ZWZ[i" bei c_icei gk[ ^[cei Yedi[hlWZe o Wfb_YWZe Wb _dj[h_eh Z[ dk[ijhei [ifWY_ei j[hh_jeh_Wb[i" Wkd Wi‡ bW Wfb_YWY_ÂŒd Z[ bW WZc_d_i# jhWY_ÂŒd Z[ `kij_Y_W _dZ‡][dW ^W i_Ze cej_le Z[ Yh‡j_YWi o [c_i_ÂŒd Z[ `k_#

"(3.1 ĹŠ ÂĄ ĹŠ

Ĺ?Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? Ĺ? +Ä?Ĺ?ĊĆĈĈ

ĹŠ ĹŠ ÂĄ ĹŠ ĹŠ ĹŠ ĹŠ ĹŠĹŠĹŠĹŠ'33/ľľ666Ä“"#1#!'.#!4 ".1Ä“!., (1#!!(¢-Ä–ĹŠ 1#- 2ĹŠ8ĹŠÄˆÄ‡ĹŠ"#ĹŠ %.23.ĔŊ "($Ä“ĹŠ (5 -!.ĔŊĎ3.Ä“ĹŠ/(2.ŊġŊ #+_$.-.2Ä–ĹŠÄ‰ÄŽÄŽÄˆÄąÄŽÄŽÄ‰ÄľÄ‰ÄŽÄŽÄŽÄąÄŒÄŠÄˆÄľÄ‰ÄŽÄ‡Ä‡ÄąÄ‰ÄŒÄŽÄľÄ‰ÄŽÄŽÄ‰ÄąÄˆÄŠÄŽŊŊġŊ Äą, (+Ä– ĹŠ)4"(!( +Äž"#1#!'.#!4 ".1Ä“!.,ĹŠ

ĹŠ)423(!( ĹŠ(-"~%#- Y_ei Z[ lWbeh" ckY^ei YWb_\_YWj_lei ^Wd h[Y_X_Ze jWb[i Yece0 Wfb_YWY_e# d[i iWblW`[i" \ebYbÂŒh_YWi" _hhWY_edW# b[i" fh_c_j_lWi gk[ Wj[djWd YedjhW bei Z[h[Y^ei ^kcWdei" [jY$ 7 f[iWh Z[ jeZei bei _dj[djei fWhW Z[iWfWh[Y[h" dk[ijhe i_ij[# cW Z[ WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W ^W f[hcWd[Y_Ze l_][dj[ o Yedi[h# lWZe Yed Y_[hje h[Y[be \h[dj[ W bW feXbWY_ÂŒd de _dZ‡][dW o W bWi Wkje# h_ZWZ[i [ijWjWb[i" [ije ^W f[hc_j_# Ze gk[ [d bW WYjkWb_ZWZ" Wkd feZW# cei eXi[hlWh" [d dk[ijhWi Yeck# d_ZWZ[i bW Wfb_YWY_ÂŒd Z[ bW `kij_Y_W XWi|dZei[ [d dehcWi" fh_dY_f_ei o fheY[Z_c_[djei fhef_ei o Yed bW _dj[hl[dY_ÂŒd Z[ bWi Wkjeh_ZWZ[i Yeckd_jWh_Wi c[Z_Wdj[ [b YkWb i[ ^W be]hWZe cWdj[d[h bW Whced‡W o [b ehZ[d ieY_Wb Wb _dj[h_eh Z[ dk[i# jhei fk[Xbei o dWY_edWb_ZWZ[i$ ;d [ijW ‘bj_cW ZƒYWZW i[ ^W l[d_# Ze ^WXbWdZe Z[ kd fbkhWb_ice `kh‡# Z_Ye W Z_\[h[dY_W Z[b ced_ice `kh‡# Z_Ye" be YkWb h[YedeY[ bW Ye[n_ij[d# Y_W Z[ lWh_ei i_ij[cWi dehcWj_lei" [ijƒd e de h[YedeY_Zei b[]Wbc[dj[ Z[djhe Z[b ;ijWZe e Z[b [ifWY_e ][efeb‡j_Ye [d [b gk[ [n_ijWd$ I_d [cXWh]e YkWdZe de ied h[Yede# Y_Zei feh [b ;ijWZe o de [n_ij[ bW lebkdjWZ feb‡j_YW Z[ bei ]eX[hdWd# j[i fWhW bW Wfb_YWY_ÂŒd" de fWiW Z[ i[h i_cfb[i [dkdY_WZei j[ÂŒh_Yei o [i ikXlWbehWZe o c[deifh[Y_WZW$ ;B :;H;9>E ?D:Ăž=;D7 ;I KD :;H;9>E 9EDIK;JK:?D7H?E$ ;b i_ij[cW Z[ WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W [i kde Z[ bei [b[c[djei YkbjkhWb[i _cfehjWdj[i Z[ dk[ijhW _Z[dj_ZWZ o Yedij_jko[d bW h_gk[pW _dlWbehWXb[ Z[ dk[ijhei fk[Xbei" Wb _]kWb gk[ [b _Z_ecW" bei iWX[h[i" bei lWbeh[i" bWi l[ij_c[djWi" [jY$ bW Z[iWfWh_Y_ÂŒd e f[hZ_ZW Z[ [ijei" Yedij_jk_h‡W bW Z[iWfWh_Y_ÂŒd Z[ dk[ijhW _Z[dj_ZWZ o feh [dZ[ Z[ bei fk[Xbei [d i_" Yece be W\_hcW" HeZeb\e IjWl[d^W]k[d" YkWdZe kd fk[Xbe ^W f[hZ_Ze bW l_][d# Y_W Z[ ik Z[h[Y^e jhWZ_Y_edWb" ^W f[hZ_Ze kdW fWhj[ [i[dY_Wb Z[ ik

_Z[dj_ZWZ ƒjd_YW" Z[ ik _Z[dj_ZWZ Yece fk[Xbe" Wkd YkWdZe Yedi[h# l[ ejhWi YWhWYj[h‡ij_YWi de c[dei _cfehjWdj[i fWhW ik _Z[dj_ZWZ$ ;d 7cƒh_YW BWj_dW" bei fk[Xbei _dZ‡# ][dWi Z[ cWoeh l_jWb_ZWZ ƒjd_YW ied Wgk[bbei [djh[ bei YkWb[i ikX# i_ij[ [b Z[h[Y^e Yedik[jkZ_dWh_e fhef_e$ BW fh|Yj_YW o [b YedeY_c_[dje ieXh[ WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W" o c|i YedeY_Ze Yece :[h[Y^e ?dZ‡][dW" ied bei YedeY_c_[d# jei" dehcWi o fh_dY_f_ei gk[ ^Wd i_Ze Yedi[hlWZei o jhWic_j_Zei Z[ ][d[hWY_ÂŒd [d ][d[hWY_ÂŒd [d \ehcW ehWb" de i[ ^W XkiYWZe Z[b h[YedeY_c_[dje feh fWhj[ Z[b ;ijWZe fWhW ik Yedi[hlWY_ÂŒd" i_de gk[ ^W i_Ze ik\_Y_[dj[ bW lWb_# ZWY_ÂŒd o bW Wfb_YWY_ÂŒd ZWZW feh dk[ijhei fk[Xbei" Wi‡ Yece de ^W i_Ze d[Y[iWh_e [iYh_X_hbei fWhW gk[ de Z[iWfWh[pYWd" [d ik jejWb_ZWZ" [b Z[h[Y^e _dZ‡][dW i[ [dYk[djhW [d bW c[ceh_W Z[ YWZW kde Z[ bei c_[cXhei Z[ kd fk[Xbe o dWY_e# dWb_ZWZ$ ;B :;H;9>E O B7 @KIJ?9?7 ?D:Ăž=;D7 ;D B7 9EDIJ?JK9?âD :;B (&&. I_d [cXWh]e" [d bW WYjkWb_ZWZ \k[ d[Y[iWh_e" gk[ bei fk[Xbei _dZ‡][# dWi eh]Wd_pWZei bkY^[cei fehgk[ i[ _dYehfeh[ dk[ijhei Z[h[Y^ei [d bW 9edij_jkY_ÂŒd Feb‡j_YW Z[b ;ijWZe" fWhW bW YkWb fh[i[djWcei kdW fhe# fk[ijW Z[ bW dk[lW 9edij_jkY_ÂŒd Z[ kd ;ijWZe Fbkh_dWY_edWb" [d [b W‹e Z[ '//.$ I[ be]hW _dijWbWh bW 7iWcXb[W 9edij_jko[dj[ o i[ h[\ehcW bW 9edij_jkY_ÂŒd gk[ l[d‡W h_]_[dZe" f[he de h[Ye][ jeZWi bWi [nf[YjWj_lWi o fhefk[ijWi Z[ bei fk[Xbei o dWY_edWb_ZWZ[i _dZ‡][# dWi$ :[djhe Z[ [ijWi h[\ehcWi [d [b 7hj$ ' Z[ bW 9edij_jkY_ÂŒd Feb‡j_YW i[ h[YedeY[ gk[ [b ;YkWZeh [i kd [ijWZe ieY_Wb Z[ Z[h[Y^e" ieX[hWde" kd_jWh_e" _dZ[f[dZ_[dj[" Z[ce# Yh|j_Ye" fbkh_YkbjkhWb o ckbj_ƒjd_# Ye$ ;i \kdZWc[djWb fWhW deiejhei gk[ feh fh_c[hW l[p [d bW ^_ijeh_W

[YkWjeh_WdW [b h[YedeY_c_[dje Z[ be fbkh_YkbjkhWb o be ckbj_ƒjd_Ye o gk[ Z[ cWd[hW _cfb‡Y_jW [b ;ijWZe WY[fj[ gk[ Yedl_l_cei kdW ]hWd Z_l[hi_ZWZ Z[ fk[Xbei o dWY_edW# b_ZWZ[i YWZW kdW Z[ [bbWi Yed iki h_gk[pWi" b[d]kW fhef_W" YkbjkhW" YedeY_c_[djei" [jY$ De iebe [ij[ Whj_Ykbe j_[d[ h[bW# Y_ÂŒd Yed bei fk[Xbei _dZ‡][dWi" i_de gk[ [ij[ Yedij_jko[ [b [`[ jhWdil[hiWb [d bW 9edij_jkY_ÂŒd Feb‡j_YW WYjkWb" W [bbe i[ W]h[]W kd YWf_jkbe Yecfb[je Z[dec_dW# Ze :[ bei :[h[Y^ei 9eb[Yj_lei Z[ bei Fk[Xbei ?dZ‡][dWi" ZedZ[ i[ [ijWXb[Y[d jeZei bei Z[h[Y^ei gk[ Yece fk[Xbei Z_l[hiei j[d[cei" Yece ied [b Z[h[Y^e W kdW [Zk# YWY_ÂŒd _dj[hYkbjkhWb X_b_d]”[ Z[ YWb_ZWZ" Z[h[Y^e W Z[Y_Z_h o Yed# i[hlWh dk[ijhWi j_[hhWi Yeckd_jW# h_Wi" W \ehjWb[Y[h dk[ijhWi fhef_Wi \ehcWi eh]Wd_pWj_lWi Wi‡ Yece W dk[ijhWi Wkjeh_ZWZ[i eh_]_dWh_Wi" Z[h[Y^e W i[h YedikbjWZei YkWdZe i[ fh[j[dZW h[Wb_pWh WYj_l_ZWZ[i Z[ [nfbejWY_ÂŒd Z[djhe Z[ dk[ijhei j[hh_jeh_ei" [djh[ ejhei" bei c_icei gk[ Wif_hWcei i[ Wfb_gk[d$ ;d be gk[ YedY_[hd[ W bW 7Zc_d_ijhWY_ÂŒd Z[ @kij_Y_W ?dZ‡][dW" ^WijW [b W‹e Z[ '//." Yece be cWd_\[ijƒ Wdj[h_ehc[dj[" i[ l[d‡W h[YedeY_[dZe bW [n_ij[d# Y_W Z[ kd iebe i_ij[cW Z[ WZc_# d_ijhWY_ÂŒd Z[ `kij_Y_W" [`[hY_Ze feh [b ;ijWZe W jhWlƒi Z[ bW <kdY_ÂŒd @kZ_Y_Wb" Z[iYedeY_[dZe bW [n_ij[d# Y_W o l_][dY_W Z[ lWh_ei i_ij[cWi `kh‡Z_Yei [d bei fk[Xbei o dWY_edW# b_ZWZ[i _dZ‡][dWi Z[b ;YkWZeh$ ;d bW dk[lW 9edij_jkY_ÂŒd Z[ bW H[f‘Xb_YW Z[b ;YkWZeh [d ik Whj$ '-'" gk[ Z_Y[0 ÆBWi Wkjeh_ZWZ[i Z[ bWi Yeckd_ZWZ[i" fk[Xbei o dWY_e# dWb_ZWZ[i _dZ‡][dWi [`[hY[h|d \kdY_ed[i `kh_iZ_YY_edWb[i" Yed XWi[ [d iki jhWZ_Y_ed[i WdY[ijhW# b[i o ik Z[h[Y^e fhef_e" Z[djhe Z[ ik |cX_je j[hh_jeh_Wb" Yed ]WhWdj‡W Z[ fWhj_Y_fWY_ÂŒd o Z[Y_i_ÂŒd Z[ bWi ck`[h[i$ BWi Wkjeh_ZWZ[i Wfb_YW# h|d dehcWi o fheY[Z_c_[djei fhe#

f_ei fWhW bW iebkY_ÂŒd Z[ Yed\b_Yjei _dj[hdei" o gk[ de i[Wd YedjhWh_ei W bW 9edij_jkY_ÂŒd o W bei Z[h[Y^ei ^kcWdei h[YedeY_Zei [d _dijhk# c[djei _dj[hdWY_edWb[i$ ;b ;ijWZe ]WhWdj_pWh| gk[ bWi Z[Y_i_ed[i Z[ bW `kh_iZ_YY_ÂŒd _dZ‡# ][dW i[Wd h[if[jWZWi feh bWi _di# j_jkY_ed[i o Wkjeh_ZWZ[i f‘Xb_YWi$ :_Y^Wi Z[Y_i_ed[i [ijWh|d ik`[jWi Wb Yedjheb Z[ Yedij_jkY_edWb_ZWZ$ BW b[o [ijWXb[Y[h| bei c[YWd_icei Z[ YeehZ_dWY_ÂŒd o Yeef[hWY_ÂŒd [djh[ bW `kh_iZ_YY_ÂŒd _dZ‡][dW o bW `kh_iZ_YY_ÂŒd ehZ_dWh_W$ Æ LWb[ W‹WZ_h gk[ [d [b |cX_je _dj[hdWY_edWb i[ be]hÂŒ Z[ _]kWb \ehcW bW hWj_\_YWY_ÂŒd Z[b 9edl[d_e ',/ Z[ bW E?J" o [i [b \kdZWc[d# je jWcX_ƒd fWhW [b [`[hY_Y_e Z[ bW 7Zc_d_ijhWY_ÂŒd Z[ @kij_Y_W ?dZ‡][dW" gk[ i[ [dYk[djhW [d bei 7hj‡Ykbei . o / Z[b 9edl[d_e$ H[\[h[dj[ W bWi Wkjeh_ZWZ[i _dZ‡# ][dWi [d [b 7hj$ .* dkc[hWb -" i[ h[YedeY[ o ZW bW fej[ijWZ Z[ Yed# i[hlWh o Z[iWhhebbWh iki \ehcWi jhWZ_Y_edWb[i Z[ Yedl_l[dY_W o eh]Wd_pWY_ÂŒd ieY_Wb Z[ ][d[hWY_ÂŒd o [`[hY_Y_e Z[ bW Wkjeh_ZWZ" dk[i# jhWi Wkjeh_ZWZ[i _dZ‡][dWi gk[ [d dk[ijhei fk[Xbei ^Wd [`[hY_Ze [b Z[h[Y^e Z[ WZc_d_ijhWh `kij_Y_W o cWdj[d[h bW fWp o bW Whced‡W Z[ bei fk[Xbei W^ehW j_[d[d bW XWi[ b[]Wb fWhW ^WY[hbe$ ;d YWZW fk[Xbe o dWY_edWb_ZWZ i[ ^Wd [ijhkYjkhWZe Z[ cWd[hW Z_ij_djW fWhW bW WZc_d_ijhWY_ÂŒd Z[ @kij_Y_W o bWi Wkjeh_ZWZ[i j_[d[d iki fhef_Wi Z[dec_dWY_ed[i Z[ WYk[hZe W ik YkbjkhW" [d bW i_[hhW [YkWjeh_WdW ZedZ[ ^WX_jWd fk[# Xbei A_Y^mW" feZ[cei [dYedjhWh W bei AkhWaWakdW" 7fkaakdW" JW_jWakdW" [jY$ I_d [cXWh]e [ijWi Wkjeh_ZWZ[i iebe \WY_b_jWd [b fheY[ie Z[ WZc_d_ijhWY_ÂŒd Z[ `kij_Y_W" gk_[d[i h[Wbc[dj[ j_[# d[d bW Wkjeh_ZWZ o [b feZ[h ied jeZWi bWi f[hiedWi gk[ fWhj_Y_# fWd [d bW 7iWcXb[W" Yed\ehcWZe fWhW bW iebkY_ÂŒd Z[ bei Yed\b_Yjei$ 7Z[c|i bWi [ijhkYjkhWi Yeb[Yj_lWi Z[ Wkjeh_ZWZ[i [ij|d Yedij_jk_ZWi feh bW 9eckd_ZWZ" [b 9edi[`e Z[ 7dY_Wdei" [b 9edi[`e Z[ =eX_[hde 9eckd_jWh_e" 7iWcXb[W =[d[hWb$ Ä“ĹŠ ĹŠ

ĹŠ

Ŋ Ŋ ^ ĔŊ Ŋ Ŋ Ŋ

Ĺ? Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

Ä‚

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

GF;<I I\gÂ’Yc`ZX [\c <ZlX[fi ALQ>8;F ;y:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF AL;@:@8C G8I8 CFJ =@E<J C<>8C<J G<IK@E<EK<J J< ?8:< :FEF:<I 8C Gè9C@:F <E ><E<I8C HL< <E <JK8 AL;@:8KLI8 J< GIF:<;<IĂ? 8 C8 8GIF98:@äE ;<C GF;<I ;< I<GI<J<EK8:@äE# FKFI>8;F GFI A8D<J >% 98:?# A<=< ;< FG<I8:@FE<J K?< CFL@J 9<I><I >IFLG#@E:# 8 =8MFI ;<C J<zFI :8ICFJ >8I:@8 ?@;8C>F# :LP8J :CĂ?LJLC8J 8 :FEK@EL8:@äE J< ;<K8CC8E1 :FDG8I<:@<EK<1 :fdf gf[\i[Xek\ ZfdgXi\Z\ \c j\ÂŒfi A8D<J >% 98:?# a\]\ [\ Fg\iXZ`fe\j [\ cX :fdgXŒˆX K?< CFL@J 9<I><I >IFLG#@E:% 8EK<:<;<EK<J1 CX gf[\i$ [Xek\ K?< CFL@J 9<I><I >IFLG#@E: \j leX ZfigfiX$ Z`Â?e \jkXYc\Z`[X YXaf cXj c\p\j [\c <jkX[f [\ E\n A\ij\p p Zfe j\[\ \e cX :`l[X[ [\ Dfii`jkfne# E\n A\ij\p# gfi d\[`f [\ \jk\ Gf[\i [\ZcX$ iX# Xlkfi`qX p efdYiX Xc JI% :8ICFJ >8I:@8 ?@;8C>F Zfdf jl m\i[X[\if p c\^`k`df 8gf[\iX[f gXiX hl\ XZkÂ’\ \e jl efdYi\ p i\gi\j\ekXZ`Â?e# fkfi^}e[fc\ gc\ef gf[\i p Xlkfi`[X[ gXiX kiXd`kXi p i\Xc`qXi kf[fj p ZX[X lef [\ cfj XZkfj p ZfjXj hl\ j\ i\hl`\iXe p hl\ j\Xe e\Z\jX$ i`fj p Xgifg`X[fj \e jl ZXc`$ [X[ [\ I\gi\j\ekXek\ gXiX Cfj J\im`Z`fj [\ >\i\eZ`X [\ Gifp\Zkf gXiX cX I\m`j`Â?e [\c ;`j\ÂŒf p =`jZXc`qXZ`Â?e [\ cX :fejkilZZ`Â?e [\c El\mf 8\ifgl\ikf @ek\ieXZ`feXc [\ Hl`kf =($+'. \e Hl`kf# <:L8;FI% F9A<KF1 <c 8gf[\iX[f \jk} ]XZlckX[f gXiX1 X I\gi\j\ekXi# e\^fZ`Xi# p ]`idXi gifgl\jkXj p ZfekiXkfj hl\ ef \oZ\[X cX ZXek`[X[ [\ ,'#''' LJ; gfi kiXejXZZ`Â?e p&f ZlXchl`\i fkif [fZld\ekf i\cXZ`feX[f Xc gifp\Zkf Xek\d\eZ`feX[f 8=@$+'. X efdYi\ [\ cX ]`idX K?< CFL@J 9<I><I >IFLG# @E:% <e <ZlX[fi% Y 8Yi`i p fg\iXi leX Zl\ekX YXeZXi`X \e YXeZfj Xgifg`X[fj p i\Zf$ efZ`[fj gXiX cX gi\j\ekXZ`Â?e p XZ\gkXZ`Â?e [\ ]XZkliXj gXiX \c gX^f [\ Â?i[\e\j [\ gX^f YXaf leX :XikX [\ :i„[`kf \jkXYc\Z`[X \e <:L8;FI% Z >`iXi Z_\hl\j hl\ ef \oZ\[X cX ZXek`[X[ [\ ('#''' LJ; gfi kiXejXZZ`Â?e ZfekiX cX Zl\ekX YXeZXi`X [\ cX \dgi\$ jX p gXiX \e[fjXi gX^Xi„j# Z_\hl\j# Â?i[\e\j [\ gX^f f c\kiXj [\ ZXdY`f hl\ i\hl`\iXe \c \e[fj\ [\ cX \dgi\jX gXiX j\i [\gfj`kX[Xj Zfdf \]\Zk`$ mf f gXiX jl ZfYif \e [`Z_f YXeZf# p gf[i} XgifYXi kf[Xj cXj Â?i[\e\j [\ gX^f f c\kiXj [\ ZXdY`f hl\ j\Xe ^`iX[Xj gfi cX ZfigfiXZ`Â?e [liXek\ \c Zlijf efidXc [\ jlj e\^fZ`fj# p \]\ZklXi kf[fj cfj ki}d`k\j c\^Xc\j hl\ j\Xe e\Z\jXi`fj gXiX \c Zldgc`d\ekf [\ \jkXj gi\d`jXj% ;LI8:@äE1 Le g\iˆf[f hl\ ef \oZ\[X [\ le XÂŒf X gXik`i [\ cX ]\Z_X [\ \jk\ [fZld\e$ kf# gl[`\e[f j\i \ok\e[`[f gfi leX i\jfclZ`Â?e [\ cX AlekX ;`i\Zk`mX [\ cX ZfigfiXZ`Â?e% AL@:@F1 8GIF98:@äE ;< GF;<I Ef% (/,$)'(($BD 8:KFI1 89% D8I@8 <L><E@8 8CD<@;8 KIĂ?D@K<1 <JG<:@8C :L8EKĂ 81 @E;<K<ID@E8;8 GIFM@;<E:@8

ALQ>8;F ;y:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# m`\ie\j (/ [\ ]\Yi\if [\ )'((# cXj ((_'(% M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX ZXljX \e ZXc`[X[ [\ Al\q Jlgc\ek\ Zfe]fid\ Xc F]`Z`f Ef% 0).$;G$;;G$A8I$'. [\ , [\ [`Z`\dYi\ [\ )''. p \e m`ikl[ [\c jfik\f gi\Z\[\ek\% CX [\dXe[X \j ZcXiX# gi\Z`$ jX p i\Â’e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX X ki}d`k\% <e Zfej\Zl\eZ`X# gfi leX jfcX m\q# glYcˆhl\j\ \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf \c \okiXZkf [\c Gf[\i [\ I\gi\j\ekXZ`Â?e fkfi^X[f# X ]Xmfi [\c j\ÂŒfi :8ICFJ >8I:Ă 8 ?@;8C>F# \c )0 [\ j\gk`\dYi\ [\c )'(' Xek\ \c j\ÂŒfi ;`Xe\ ;% CXe\# EfkXi`f GÂ’Yc`Zf [\c <jkX[f [\ E\n A\ij\p [\ cfj <jkX[fj Le`[fj [\ Efik\ 8d„i`ZX% GiXZk`ZX[Xj p j\ekX[Xj cXj iXqfe\j i\j$ g\Zk`mXj j\ i\jfcm\i} cf hl\ Zfii\jgfe[X% KÂ?d\j\ \e Zl\ekX \c [fd`Z`c`f al[`Z`Xc j\ÂŒXcX[f gfi cX g\k`Z`feXi`X p X^i„^l\j\ cX [fZld\ekXZ`Â?e X[alekX% Efk`]ˆhl\j\%$] ;i% IlY„e :\mXccfj =XYXiX# AL<Q Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`„e[f$ c\ [\ cX fYc`^XZ`Â?e [\ j\ÂŒX$ cXi [fd`Z`c`f al[`Z`Xc \e \jkX Z`l[X[ [\ Hl`kf gXiX i\Z`Y`i gfjk\i`fi\j efk`]`ZXZ`fe\j% :\ik`]`Zf%$ ;i% E`cf >feqXcf 8cdXZ_` J<:I<K8I@F ALQ>8;F ;y:@DF K<I:<IF :@M@C ;< G@:?@E:?8 ?Xp le j\ccf 8I&/)-*-&ZZ

;@MFI:@FJ ALQ>8;F J<GK@DF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF :@K8:@äE AL;@:@8C 8 C8 J<zFI8 D8I@8 E@<M<:@K8 G8D<C@ D@E8 :FE C8 ;<D8E;8 ;< ;@MFI:@F HL< <E AL@:@F M<I98C JLD8I@F J@>L< <E JL :FEKI8 <C J<zFI J<>LE;F >LJK8MF >L;@zF 8:KFI% J\^le[f >ljkXmf >l[`ÂŒf ; < D 8 E ;8 ;8 % $ D X i ˆ X E`\m\Z`kX GXd\c` D`eX AL@:@F%$ ;`mfiZ`f KI8D@K<%$ M\iYXc JldXi`f :L8EK@8% @e[\k\id`eX[X F9A<KF ;< C8 ;<D8E;8%$ ;`jfclZ`Â?e [\c mˆeZlcf dXki`$ dfe`Xc :8LJ8 Ef% )'(($ ''/. < GIF8zF GIFM@;<E:@8%$ ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8 HL@KF# m`\ie\j (/ [\ ]\Yi\if [\ )'((# cXj ((_+(%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q K\dgfiXc <eZXi^X[f [\ \jkX Al[`ZXkliX# d\[`Xek\ 8ZZ`Â?e [\ G\ijfeXc Ef% *('$;G$;GG# [\ '0 [\ ]\Yi\if [\ )'((% CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\$ kX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ c\p% <j gifZ\[\ek\ \c ki}d`k\ M\iYXc JldXi`f% <e d„i`kf [\c aliXd\ekf hl\ i\Xc`qX \c XZkfi \e \c hl\ [\ZcXiX cX `dgfj`$ Y`c`[X[ [\ [\k\id`eXi cX `e[`$ m`[lXc`[X[ f i\j`[\eZ`X [\ cX [\dXe[X[X# p [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c :f[`]`ZX[f# Zˆk\j\ X cX j\ÂŒfiX D8I@8 E@<M<:@K8 G8D<C@ D@E8# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf# d\[`Xe$ [f fZ_f [ˆXj \eki\ ZX[X glYc`$ ZXZ`Â?e%$ 8^i„^l\j\ Xc gifZ\jf cfj [fZld\ekfj XZfdgXÂŒX$ [fj% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f%$

Ĺ?

EFK@=@HL<J<%%$ ] ;i% NX^e\i A}k`mX Hl`ifq% Cf hl\ Zfdle`Zf X L[%# gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# X[m`ik`„e[fc\j [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc \e cX ]fidX c\^Xc gXiX i\Z`Y`i cXj gfjk\i`fi\j efk`]`ZX$ Z`fe\j hl\ c\j Zfii\jgfe[X%$ ;i% DXel\c 8dÂ?e D\[`eX J<:I<K8I@F ;<C ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8% <o`jk\ ]`idX p j\ccf% 8%G%&+/,-,&b%d% I% ;<C <% ALQ>8;F M@><J@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 A F I ;8 E 8 A8: B < C @ E < J:?N<@KQ<I M<;FI AL@:@F1 M<I98C JLD8I@F ;@MFI:@F Ef% (-,/$)'(' ?%<% 8:KFI1 I@:8I;F =<IE8E;F GL<;D8> :8JKIF ;<D8E;8;81 AFI;8E8 A8:B<C@E< J:?N<@KQ<I M<;FI F9A<KF1 Hl\ j\ [`jl\cmX \c mˆeZlcf dXki`dfe`Xc =LE;8D<EKF C<>8C1 8ik% (('# eld\iXc ((# `eZ`jf (f [\c :Â?[`^f :`m`c% :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F C<>8C1 *((+ ;i% =\ieXe[f Gl\[dX^ 8LKF ;< :8C@=@:8:@FE ALQ>8;F M @ > < J @ D F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`„iZf$ c\j )* [\ ]\Yi\if [\c )'((# cXj (-_,'%$ M@JKFJ%$ LeX m\q hl\ j\ _X [X[f Zldgc`$ d`\ekf X cf [`jgl\jkf \e gif$ m`[\eZ`X gi\Z\[\ek\# j\ ZXc`$ ]`ZX cX [\dXe[X Zfdf ZcXiX# Zfdgc\kX p Zfek\ek`mX [\ cfj i\hl`j`kfj gi\Z\gklX[fj \e cfj XikˆZlcfj -. p -/ [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c2 Zfe$ j\Zl\ek\d\ek\# X[d`k`„e[fcX Xc ki}d`k\ m\iYXc jldXi`f# \e Xk\eZ`Â?e X cX X]`idXZ`Â?e hl\ Zfe aliXd\ekf \]\ZkÂ’X \c XZkfi jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\ cX [\dXe[X[X# Zˆk\j\ X Afi[XeX AXZb\c`e\ JZ_n\`kq\i M\[fi gfi cX gi\ejX# \e lef [\ cfj [`Xi`fj [\ Xdgc`X Z`iZlcXZ`Â?e \e \jkX Z`l[X[ [\ Hl`kf cl^Xi [fe[\ j\ Z\c\YiÂ? \c dXki`dfe`f# \e cX ]fidX hl\ gi\Z\gkÂ’Xe cfj XikˆZlcfj ((0 [\c :Â?[`^f :`m`c p /) [\c :Â?[`^f [\ GifZ\[`d`\ekf \e

IebWc[dj[ Wgk[bbei [if‡h_jki l[hZWZ# [hWc[dj[ lWb[heiei iWX[d bW cWd[hW Z[ f[hZedWh$ Kd i[h l_b de f[hZedW dkdYW fehgk[ de [ij| [d ik dWjkhWb[pW$ B7MH;D9; IJ;HD; cX d`jdX dXk\i`X% 8^i„^l\ej\ Xc \og\[`\ek\ cfj [fZld\ekfj i\]\i`[fj \e cX ]\ [\ gi\j\ekX$ Z`Â?e jljZi`kX gfi \c i\jgfejX$ Yc\ [\ cX F]`Z`eX [\ Jfik\fj p :Xj`cc\ifj Al[`Z`Xc\j%$ :ˆk\j\ p Efk`]ˆhl\j\% ;I% IL9<E >@C<I :<;<zF% AL<Q Cf hl\ c\ Zfdle`Zf X Ljk\[ p C< :@KF gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ cX [\dXe$ [X[X [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc# gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j% C@:% >L@;F <JG@EFQ8 <% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./-/.&k] I% ;<C <% ALQ>8;F M@><J@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 AFI>< <EI@HL< CC8EF K@KF AL@:@F1 ;@MFI:@F Ef% -.-$ )''/$?%<% 8:KFI1 9<IK?8 D8I>FK? :ILQ C<D8 ; < D 8 E ;8 ; F 1 A F I> < <EI@HL< CC8EF K@KF F9A<KF1 Hl\ j\ [`jl\cmX \c mˆeZlcf dXki`dfe`Xc% =LE;8D<EKF C<>8C1 8ik% (('# ZXljXc ((# `eZ`jf j\^le[f [\c :Â?[`^f :`m`c% :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F C<>8C1 )**+ ;i% >\fmXep <jhl`m\c% 8LKF ;< :8C@=@:8:@FE ALQ>8;F M @ > < J @ D F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# )- [\ Ale`f [\c )''/# cXj (+_*)%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e m`ikl[ [\c jfik\f [\ C\p%$ <e cf gi`e$ Z`gXc# cX [\dXe[X gi\j\ekX[X gfi 9<IK?8 D8I>FK? :ILQ C<D8 hl\ Xek\Z\[\# \j ZcXiX p i\le\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX Xc ki}$ d`k\ m\iYXc jldXi`f%$ :ˆk\j\ Xc [\dXe[X[f AFI>< <EI@HL< CC8EF K@KF# \eki\^}e[fc\ Zfg`X [\ cX [\dXe[X p \jkX

gifm`[\eZ`X \e cX [`i\ZZ`�e hl\ j\ŒXcX gXiX \c \]\Zkf%$ 8^i„^l\j\ X cfj Xlkfj cfj [fZld\ekfj hl\ XZfdgXŒX%$ K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ŒXc[f gfi cX XZkfiX gXiX jlj efk`]`ZXZ`fe\j# Xjˆ Zfdf cX Xlkfi`qXZ`�e Zfe]\i`[X X jl 8Yf^X[f GXkifZ`eX[fi%$ :ˆk\j\ p Efk`]ˆhl\j\% ;I% IL9<E >@C<I :<;<zF% AL<Q ALQ>8;F M @ > < J @ D F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8#$ Hl`kf# m`\ie\j (, [\ XYi`c [\c )'((# cXj (,_*/%$ <e Xk\eZ`Že X cX X]`idXZ`Že hl\ Zfe aliXd\ekf \]\Zk“X \c XZkfi jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\c [\dXe[X[f j\Œfi Afi^\ <ei`hl\ CcXef K`kf# Z‰k\j\ Xc d`jdf gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Že eXZ`feXc [\ cfj hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf cl^Xi [fe[\ j\ Z\c\YiŽ \c dXki`dfe`f# \e cX ]fidX hl\ gi\Z\gk“Xe cfj 8ikj% ((0 [\c :Ž[`^f :`m`c p /) [\c :Ž[`^f [\ GifZ\[`d`\ekf \e cX d`jdX dXk\i`X%$Efk`]‰hl\j\%$ ;I% IL9<E >@C<I :<;<zF% AL<Q Cf hl\ c\ Zfdle`Zf X Ljk\[ p C< :@KF gi\m`e`\e[fc\ [\ cX fYc`^XZ`�e hl\ k`\e\ \c [\dXe$ [X[f [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc# gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j% C@:% >L@;F <JG@EFQ8 <% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0)'/&k] I% [\c <% ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@FE AL;@:@8C G8I8 J<zFI I8=8<C <;L8I;F GFD8 P8E<Q < O K I 8 : K F AL@:@F ;@MFI:@F EIF% (+'($ )'('$;I% :%D 8:KFI81 JLJ8E8 G@C8I 8@D8:8z8 K8@G<

CONVOCATORIA COOPERATIVA VIVIENDA SERVIDORES DEL IESS La Cooperativa de Vivienda Servidores del IESS, convoca a los socios a la Asamblea General Ordinaria que se efectuarĂĄ el sĂĄbado 30 de abril del 2011, a las 08H30, en la Casa Comunal, ubicada en los terrenos de la Cooperativa. Se tratarĂĄ el siguiente Orden del DĂ­a: 1. ConstataciĂłn del quĂłrum e instalaciĂłn de la Asamblea 2. Lectura y aprobaciĂłn del Acta Anterior 3. Informe de Presidencia a diciembre 2010 4. Informe de Gerencia a diciembre 2010 5. Informe del Consejo de Vigilancia 6. AprobaciĂłn de Balances aĂąo 2010

; < D 8 E ;8 ; F I8 =8 < C <;L8I;F GFD8 P8E<Q F9A<KF1 ;@JFCL:@FE ;<C M@E:LCF D8KI@DFE@8C ;< :FE=FID@;8; :FE CF ;@JGL<JKF <E <C @E:@JF J<>LE;F ;<C ELD<I8C ;<:@DF GI@D<IF ;<C 8IK% ((' ;<C :F;@>F :@M@C M@><EK< KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 :8J@CC<IF AL;@:@8C EIF% *-/+ G<IK<E<:@<EK< 8C ;I% J8EKFJ GI8;F GIFM@;<E:@81 ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`„iZfc\j / [\ [`Z`\dYi\ [\c )'('# cXj (-_+,%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX# \e m`ikl[ [\c jfi$ k\f i\Xc`qX[f \e cX i\jg\Zk`mX f]`Z`eX [\ jfik\fj p \e ZXc`[X[ [\ Al\q Jlgc\ek\ d\[`Xek\ F]`Z`f Eif% '()$;;G$A8I# [\c )+ [\ <e\if [\c )'',%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\$ Z\[\ \j ZcXiX# gi\Z`jX p i\’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gif$ Z\[\ek\ j\ cX XZ\gkX X ki}d`k\ M\iYXc JldXi`f%$ <e d„i`kf [\c aliXd\ekf i\e[`[f gfi gXik\ [\ cX 8ZkfiX JLJ8E8 G@C8I 8@D8:8z8 K8@G<# jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\e$ Z`X [\c ;\dXe[X[f I8=8<C <;L8I;F GFD8 P8E<Q%$ :ˆk\j\ Zfe \c Zfek\e`[f [\ cX [\dXe[X p \jk\ Xlkf hl\ Xek\$ Z\[\ Xc [\dXe[X[f I8=8<C <;L8I;F GFD8 P8E<Q# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`�e [\ \jkX

Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# d\[`Xe[f fZ_f [ˆXj ZX[X glYc`ZXZ`Â?e leX [\ fkiX%$ 8^i„^l\j\ Xc gifZ\jf cX [fZl$ d\ekXZ`Â?e X[alekX% KÂ?d\j\ \e Zl\ekX cX ZlXekˆX p ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f gfi \c Zfd$ gXi\Z`\ek\ JLJ8E8 G@C8I 8@D8:8z8 K8@G<# gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j%$ :ˆk\j\ p Efk`]ˆhl\j\%$ ] ;i% I\peXc[f =cfi 8cmXiX[f% Al\q j`^l\ cX efk`]`ZXZ`Â?e Cf hl\ cc\mf X jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p% Gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j% :\ik`]`Zf% AlXeX :\mXccfj >% J<:I<K8I@8 ?Xp ]`idX p j\ccf 8:&.0(0/&k] ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 C8 J<zFI8 D8I@8 D8IK?8 C8>L8K< KF8G8EK8 ;< C8 ;<D8E;8 ;< ;@MFI:@F GIFGL<JK8 <E JL :FEKI8 GFI <C J<zFI >L@;F =89@8E :8C;<IFE K@G8E 8:KFI1 J<zFI >L@;F =89@8E :8C;<IFE K@G8E ;<D8E;8;81 J<zFI8 D8I@8 D8IK?8 C8>L8K< KF8G8EK8 AL@:@F Ef% ''+'$)'(($<; KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 =<:?8 ;< @E@:@8:@äE1 m`\i$

e\j (/ [\ ]\Yi\if [\c )'((% GIFM@;<E:@8 ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# m`\ie\j (/ [\ ]\Yi\if [\c )'((# cXj (-_(-%$ M@JKFJ1 <e m`ikl[ [\ cX 8ZZ`�e [\ G\ijfeXc Ef% *(+$;G$;GG [\ ]\Z_X (' [\ =\Yi\if [\c )'((# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e d` ZXc`[X[ [\ Al\q \eZXi^X[f [\ \jkX Al[`ZXkliX%$ <e Zfej\Zl\eZ`X# Zldgc`[f hl\ _X j`[f \c i\hl\i`d`\ekf jfc`Z`kX[f \e gifm`[\eZ`X `e`$ Z`Xc# cX [\dXe[X hl\ Xek\Z\[\ j\ cX ZXc`]`ZX [\ ZcXiX# gi\Z`jX p Zfdgc\kX# gfi i\le`i cfj i\hl`$ j`kfj [\ c\p# iXq�e gfi cX ZlXc j\ cX X[d`k\ Xc kiXd`k\ m\iYXc jldXi`f%$ <e cf gi`eZ`gXc# Xk\e$ kX Xc aliXd\ekf i\e[`[f gfi \c XZkfi p [\ Zfe]fid`[X[ X cf [`jgl\jkf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# Zˆk\j\ X cX [\dXe[X[X JI8% D8I@8 D8IK?8 C8>L8K< KF8G8EK8 d\[`Xek\ ki\j glYc`ZXZ`fe\j hl\ j\ _Xi}e# ZX[X leX [\ \ccXj \e ]\Z_X [`jk`ekX# \e le g\i`�[`Zf [\ Xdgc`X Z`iZlcXZ`�e [\ cX Z`l[X[ p ZXek�e Hl`kf# gifm`eZ`X [\ G`Z_`eZ_X p kXc Zfdf [`jgfe\ \c 8ik% ((0 [\c :�[`^f :`m`c# j\ cXj _Xi} d\[`Xe[f k„id`ef [\ fZ_f [ˆXj# gfi cf d\efj# \eki\ cX leX p cX fkiX glYc`ZXZ`�e%$ K„e^Xj\ \e Zl\ekX cX `ej`elX$ Z`�e [\ :liX[fiX 8[ c`k\d \e cX g\ijfeX [\ cX JI8% D8I@8 :C<D<E:@8 K@G8E @D98 gXiX hl\ c\ i\gi\j\ek\ \e \jkX ZXljX Xc d\efi [\ \[X[ 9IP8E 8C<O8E;<I :8C;<IFE C8>L8K<%$ 8^i„^l\j\ X

CONVOCATORIA A LA JUNTA GENERAL EXTRAORDINARIA DE LA COMPAĂ‘Ă?A NATIONAL TIRE EXPERTS. S.A. De conformidad con lo dispuesto en la Ley de Compaùías y en el Estatuto de la Empresa, se convoca a los seĂąores Accionistas de la Compaùía National Tire Experts S.A., a la sesiĂłn de Junta General Extraordinaria de Accionistas que tendrĂĄ lugar en Quito, en las oficinas de la Compaùía ubicadas en la Av. De los Granados E14-589 y Av. Eloy Alfaro, el dĂ­a viernes 29 de abril de 2011, a partir de las 05:00 pm, con el objeto de conocer y resolver sobre la agenda que se incluye a continuaciĂłn. En forma especial e individual se convoca al Comisario de la Compaùía, Ing. Ezequiel GuamĂĄn S. Dos puntos a tratar: 1.- Aprobar la FusiĂłn por absorciĂłn de la Compaùía Tecnicentro Eguiguren S.A. con la compaùía National Tire Experts S.A.

NOTA.- De no existir el quórum reglamentario a la hora citada, la sesión se iniciarå una hora despuÊs con el número de socios asistentes. Las resoluciones que se tomen, tendrån el caråcter de obligatorio para todos los socios. De conformidad con el Art. 26 del Reglamento de la Ley de Cooperativas, socio que no pueda asistir, podrå delegar a otro por escrito su representación. Ningún socio podrå representar a mås de un cooperado. EL SOCIO CALIFICADO DEBERà PRESENTAR CÉDULA PARA INGRESO. Socio que no asista, se impondrå la multa de veinte (20.00) dólares americanos. Atentamente,

2.- AprobaciĂłn de las bases de la operaciĂłn y del proyecto de reforma al Estatuto Social.

Quito, a 19 de abril del 2011. Ing. Diego de los Reyes GERENTE GENERAL

Sra. Ă ngela ProaĂąo V. PRESIDENTA AR/82646/cc

'*/,,* 9L

cfj Xlkfj cfj [fZld\ekfj X[alekfj%$ KÂ?d\j\ efkX [\ cX ZlXekˆX p [fd`Z`c`f al[`Z`Xc j\ÂŒXcX[fj gfi \c JI% >L@;F =89@8E :8C;<IFE K@G8E p cX Xlkfi`qXZ`Â?e hl\ [X X jl XYf^X[f [\]\ejfi%$ :ˆk\j\ p Efk`]ˆhl\j\% = ;iX% D% =cfi GXqd`ÂŒf% AL<Q8% GXik`ZlcXi hl\ cc\mf X jl Zfef$ Z`d`\ekf gXiX cfj ]`e\j c\^X$ c\j g\ik`e\ek\j# X[m`ik`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc \e \jkX Z`l[X[ [\ Hl`kf gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j% 8Y% DXi`f CXjjf Fik\^X% J<:I<K8I@F ;<C ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0(.0&k] I% ;<C <% ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C1 8C J<zFI <;L8I;F :FII<8 >äD<Q AL@:@F1 ;@MFI:@F Ef% '''-$ )'(($;%>%=% 8:KF I8 1 J < z F I 8 CLQ D8IC<E< :8CM8 A8I8D@CCF ; < D 8 E ;8 ; F 1 J < z F I <;L8I;F :FII<8 >äD<Q :8J@CC<IF AL;@:@8C Ef% -(-/ ;<C 89% CL@J K@G8E D<Q8% GIFM@;<E:@8 ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`„iZfc\j )- [\ \e\if [\c )'((# cXj ('_''%$ M@JKFJ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`$ [X[ [\ Al\q <eZXi^X[f [\c Alq^X[f Gi`d\if [\ cf :`m`c [\ G`Z_`eZ_X# d\[`Xek\ 8ZZ`Â?e [\ G\ijfeXc Ef% (.($;G$$;GG%# [\ )( [\ <e\if [\c )'((%$ <c \jZi`$ kf p Xe\of gi\j\ekX[fj X^i„$ ^l\j\ Xc gifZ\jf% <e cf gi`eZ`$ gXc2 cX [\dXe[X[X gi\j\ekX[X \j ZcXiX# gi\Z`jX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi

cf hl\ j\ cX XZ\gkX X ki}d`k\ M\iYXc JldXi`f <e Zfej\Zl\e$ Z`X# ZÂ?iiXj\ kiXjcX[f Xc j\ÂŒfi <;L8I;F :FII<8 >äD<Q# Zfe \c aliXd\ekf i\e[`[f gfi \c XZkfi p [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# Zˆk\j\ X cX [\dXe[X[X gfi \c j\ÂŒfi <;L8I;F :FII<8 >äD<Q# gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcX$ Z`Â?e [\ \jkX :`l[X[ [\ Hl`kf% EfdYiXj\ Zfdf :liX[fi X Xc j\ÂŒfi N`cc`Xd If[i`^f :XcmX AXiXd`ccf# hl`\e j\ gfj\j`feX$ iX [\c ZXi^f \c [ˆX m`\ie\j feZ\ [\ dXiqf [\c [fj d`c feZ\# X cXj el\m\ _fiXj% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f p X^i„^l\ej\ cfj [fZld\ekfj XZfdgXÂŒX[fj%$ Efk`]ˆhl\j\%$ ;I% N8>E<I A8K@M8 HL@IFQ% AL<Q < Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc gÂ’Yc`Zf \e ^\e\iXc# gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./-.*&k] I% ;<C <% ALQ>8;F M@><J@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 A F I ;8 E 8 A8: B < C @ E < J:?N<@KQ<I M<;FI AL@:@F1 M<I98C JLD8I@F ;@MFI:@F Ef% (-,/$)'(' ?%<% 8:KFI1 I@:8I;F =<IE8E;F GL<;D8> :8JKIF ;<D8E;8;81 AFI;8E8 A8:B<C@E< J:?N<@KQ<I M<;FI F9A<KF1 Hl\ j\ [`jl\cmX \c mˆeZlcf dXki`dfe`Xc =LE;8D<EKF C<>8C1 8ik% (('# eld\iXc ((# `eZ`jf (f [\c :Â?[`^f :`m`c% :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F C<>8C1 *((+ ;i% =\ieXe[f Gl\[dX^

8LKF ;< :8C@=@:8:@FE ALQ>8;F M @ > < J @ D F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`„iZf$ c\j )* [\ ]\Yi\if [\c )'((# cXj (-_,'%$ M@JKFJ%$ LeX m\q hl\ j\ _X [X[f Zldgc`$ d`\ekf X cf [`jgl\jkf \e gif$ m`[\eZ`X gi\Z\[\ek\# j\ ZXc`$ ]`ZX cX [\dXe[X Zfdf ZcXiX# Zfdgc\kX p Zfek\ek`mX [\ cfj i\hl`j`kfj gi\Z\gklX[fj \e cfj XikˆZlcfj -. p -/ [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c2 Zfe$ j\Zl\ek\d\ek\# X[d`k`„e[fcX Xc ki}d`k\ m\iYXc jldXi`f# \e Xk\eZ`�e X cX X]`idXZ`�e hl\ Zfe aliXd\ekf \]\Zk’X \c XZkfi jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\ cX [\dXe[X[X# Zˆk\j\ X Afi[XeX AXZb\c`e\ JZ_n\`kq\i M\[fi gfi cX gi\ejX# \e lef [\ cfj [`Xi`fj [\ Xdgc`X Z`iZlcXZ`�e \e \jkX Z`l[X[ [\ Hl`kf cl^Xi [fe[\ j\ Z\c\Yi� \c dXki`dfe`f# \e cX ]fidX hl\ gi\Z\gk’Xe cfj XikˆZlcfj ((0 [\c :�[`^f :`m`c p /) [\c :�[`^f [\ GifZ\[`d`\ekf \e cX d`jdX dXk\i`X% 8^i„^l\ej\ Xc \og\[`\ek\ cfj [fZld\ekfj i\]\i`[fj \e cX ]\ [\ gi\j\ekX$ Z`�e jljZi`kX gfi \c i\jgfejX$ Yc\ [\ cX F]`Z`eX [\ Jfik\fj p :Xj`cc\ifj Al[`Z`Xc\j%$ :ˆk\j\ p Efk`]ˆhl\j\% ;I% IL9<E >@C<I :<;<zF% AL<Q Cf hl\ c\ Zfdle`Zf X Ljk\[ p C< :@KF gi\m`e`„e[fc\ [\ cX fYc`^XZ`�e hl\ k`\e\ cX [\dXe$ [X[X [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc# gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j% C@:% >L@;F <JG@EFQ8 <% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./-/.&k] I% [\c <% ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 : @ K 8 : @ F E A L ; @ : @ 8 C 8 cX [\dXe[X[X D8I@8E8 ;<C G@C8I >8CC8I;F HL@E8KF8# j\ c\ Z`kX Zfe cX

CONVOCATORIA A JUNTA GENERAL ORDINARIA DE ACCIONISTAS DE LA COMPAĂ‘Ă?A DE TRANSPORTES CĂ“NDORES DEL VALLE “CONDORVALL S.A.â€? De conformidad con lo dispuesto en la Ley de Compaùías, se convoca a los seĂąores Accionistas de la Compaùía de Transportes CĂłndores del Valle “CONDORVALL S.A.â€? a Junta General Ordinaria de Accionistas que se llevarĂĄ a cabo el dĂ­a sĂĄbado 30 de abril del 2011, a las 10:00 hrs. en las oficinas de la compaùía ubicadas en la Av. InĂŠs Gangotena y GonzanamĂĄ s/n barrio MushuĂąan ciudad SangolquĂ­, CantĂłn RumiĂąahui Para tratar el siguiente orden del dĂ­a. 1.2.3.4.5.6.7.-

Conocimiento y resoluciĂłn sobre el informe de Presidente correspondiente al aĂąo 2010. Conocimiento y resoluciĂłn sobre el informe de Gerencia General correspondiente al aĂąo 2010. Conocimiento y resoluciĂłn sobre el informe de Comisario correspondiente al ejercicio econĂłmico del aĂąo 2010. Conocimiento y resoluciĂłn sobre el Balance General y el Estado de PĂŠrdidas y Ganancias del ejercicio econĂłmico del aĂąo 2010. Conocimiento y resoluciĂłn sobre el destino de las Utilidades del periodo econĂłmico 2010. Conocimiento y autorizaciĂłn para adquisiciĂłn de acciones a favor de la compaùía Elecciones Generales. • ElecciĂłn de Presidente • ElecciĂłn de Gerente General • ElecciĂłn de Comisario Principal y Suplente • ElecciĂłn de Vocales Principales y Suplentes

IeXh[ kd Xk[d Y_c_[dje i[ fk[Z[ b[lWdjWh kd Xk[d [Z_\_Y_e" o [b c[`eh Y_c_[dje o pWd`W Z[b ckdZe [i [b Z_d[he$ C?=K;B :; 9;HL7DJ;I I77L;:H7 [\dXe[X M\iYXc JldXi`X [\ ;`mfiZ`f j\^l`[f gfi \c XZkfi D8I@F >L@CC<IDF FIK<>8 8CHL@E>8# _Xp cf hl\ j`^l\1 AL@:@F% Ef% ()),$)'(( KI8D@K<1 M\iYXc JldXi`f$ ;`mfiZ`f 8:KFI1 D8I@F >L@CC<IDF FIK<>8 8CHL@E>8 ;<D8E;8;81 D8I@8E8 ;<C G@C8I >8CC8I;F HL@E8KF8 KI8D@K81 ;iX% DXiˆX <c\eX >l\ii\if GIFM@;<E:@81 ĂˆALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j (+ [\ dXiqf [\c )'((# cXj ((_',%$ M@JKFJ1 <e cf gi`eZ`$ gXc# cX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX p i\Â’e\ cfj i\hl`j`kfj c\^Xc\j2 \e Zfej\Zl\eZ`X j\ cX XZ\gkX Xc kiXd`k\ M\iYXc JldXi`f [\ ;`mfiZ`f%$ 8k\ekf Xc aliXd\ekf i\e[`[f gfi \c XZkfi D8I@F >L@CC<IDF FIK<>8 8CHL@E>8 p [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf Z`m`c# Zˆk\j\ X cX [\dXe[X[X D8I@8E8 ;<C G@C8I >8CC8I;F HL@E8KF8# gfi d\[`f [\ cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`k\e \e \jkX Z`l[X[ [\ Hl`kf# d\[`Xe$ [f \eki\ leX p fkiX glYc`ZX$ Z`Â?e fZ_f [ˆXj _}Y`c\j gfi cf d\efi%$ K„e^Xj\ \e Zl\ekX cX `ej`elXZ`Â?e [\ :liX[fiX 8[$c`k\d# i\Xc`qX[X gfi \c d\efi X[lckf DXi`f ;Xm`[ Fik\^X >XccXi[f \e cX j\ÂŒfiX IfjX 8e^\cX Fik\^X 8chl`e^X# hl`„e cf mX X i\gi\j\ekXi \e cX gi\j\ek\ ZXljX%$ 8^i„^l\j\

Xc gifZ\jf cfj [fZld\ekfj hl\ XZfdgXÂŒX%$ K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[fÉ%$ Efk`]ˆhl\j\%$ ] ;i% <[n`e 8i^fk` I\p\j# Al\q <eZXi^X[f% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j c\^Xc\j g\ik`e\ek\j p j\ c\ gi\m`\e\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc \e cX Z`l[X[ [\ Hl`kf# gXiX jlj efk`]`ZXZ`fe\j%$ :\ik`]`Zf% ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ;<C ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&./0')&k] ALQ>8;F J<OKF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 D8IK?8 C8LI8 DFIF:?F :<G8;8 <OKI8:KF 8:KFI1 G<;IF I@:8I;F Q8DFI8 ;<B8 ;<D8E;8;F1 D8IK?8 C8LI8 DFIF:?F :<G<;8 AL@:@F1 ;@MFI:@F Ef% (.'0$ )'('$@>D KI8D@K<1 M<I98C JLD8I@F :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F1 :8J@CC<IF AL;@:@8C ,0/+ [\ cX ;iX% KXe`X 8e[iX[\ LccXli`% F9A<KF1 FYk\e\i \c ;`mfiZ`f GIFM@;<E:@8 ALQ>8;F J<OKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j )/ [\ ]\Yi\if [\c )'((# cXj '0_,/%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\ gi\j\ekX[X \j ZcXiX# gi\Z`jX p Zfdgc\kX# gfi

CONVOCATORIA EMPRESA NACIONAL ECUATORIANA DE TRANSPORTE S.A. ENETSA De conformidad con los Arts. 230 y siguientes de la Ley de Compaùías y el Art. 12 de los Estatutos Sociales, se convoca a los accionistas de la EMPRESA NACIONAL ECUATORIANA DE TRANSPORTE S.A., ENETSA a Junta General Extraordinaria, a celebrarse el såbado 30 de abril de 2011 a las 9:00 AM en el local de la Empresa, ubicado en la Av. Gran Colombia 1625 y Queseras del Medio, de esta ciudad Quito, para tratar los siguientes puntos del orden del día: 1.

2. 3. 4. 5. 6. 7.

Lectura y aprobaciĂłn del Balance y Estados Financiero del Ejercicio EconĂłmico 2010. Informe del Presidente Informe del Gerente Informe del Comisario Informe de Auditores Externos Destino de Utilidades AutorizaciĂłn ImplementaciĂłn Normas NIIF y ContrataciĂłn de una Firma calificada.

Se convoca de manera especial al Sr. Lic. Marcelino Valverde Comisario principal de la instituciĂłn, sin perjuicio de convocarle en forma individual y especialmente por nota escrita.

El Comisario Lcdo. C.P.A., Luis Fernando Guano DĂ­az ha sido convocado especial e individualmente.

Toda la documentación se encuentra a disposición de los seùores accionistas en las oficinas de la compaùía.

Se deja constancia a los SeĂąores Accionistas que la presente es la segunda convocatoria. Atentamente,

SangolquĂ­, 20 de abril del 2011 Sr. Washington Mancero PRESIDENTE

Sr. S. HĂŠctor Freire Vasco GERENTE GENERAL AR/82645/cc

Sr. Christian Saltos PRESIDENTE AR/82641/cc

i\le`i cfj i\hl`j`kfj [\ c\p# iXqÂ?e gfi cX ZlXc j\ cX X[d`k\ Xc ki}d`k\ m\iYXc jldXi`f% <e cf gi`eZ`gXc# Zˆk\j\ Zfe le \okiXZ$ kf [\ cX d`jdX p \jkX gifm`[\e$ Z`X X cX [\dXe[X[X D8IK?8 C8LI8 DFIF:?F :<G<;8# X kiXm„j [\ cX gi\ejX# kXekf \e \jkX Z`l[X[ [\ Hl`kf Zfdf \e cX ZXg`kXc [\ cX Gifm`eZ`X [fe[\ j\ Z\c\YiÂ? \c dXki`dfe`f# \e cX ]fidX gi\m`jkX \e cfj 8ikj% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c p ((0 [\c :Â?[`^f :`m`c2 \jkf# Xk\ekf \c aliXd\ekf i\e$ [`[f gfi \c XZkfi% 8^i„^l\j\ X cfj Xlkfj cfj [fZld\ekfj X[alekfj% KÂ?d\j\ \e efkX [\c ZXj`cc\if al[`Z`Xc hl\ j\ÂŒXcX cX gXik\ XZkfiX p cX Xlkfi`qXZ`Â?e hl\ [X X jl XYf^X[f [\]\ejfi% :ˆk\j\ p Efk`]ˆhl\j\% = ;i% DXi`f Fik`q <jki\ccX% Al\q% CF HL< :F D L E @ :F GI<M@E@<E;FC< ;< C8 F9C@>8:@äE HL< K@<E< ;< J<z8C8I ;FD@:@C@F AL;@:@8C ;<EKIF ;<C G<IĂ D<KIF C<>8C ;< <JK8 :@L;8; ;< HL@KF G8 I 8 G F J K < I @ F I < J EFK@=@:8:@FE<J% ;I% <;N@E :<M8CCFJ 8DGL;@8 J<:I<K8I@F ?Xp ]`idX p j\ccf 8:./0((&k] <OKI8:KF :@K8:@äE AL;@:@8C :@K8:@äE AL;@:@8C 8C J<zFI N8J ? @ E >KF E ?@GFC@KF :?8E>FCL@J8 :?@:8@Q8 8:KFI81 8E8 CL:@8 HL@CCLG8E>L@ DFIF:?F ;<D8E;8;F1 N8J?@E>KFE ?@GFC@KF :?8E>FCL@J8 :?@:8@Q8 AL@:@F EIF% )/$)'(($ GQ$M < I 98 C J L D 8 I @ F Æ ;@MFI:@F :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F1 :8J@CC<IF AL;@:@8C EIF% *- ;I% CL@J I8D@IF KF8CFD9F GIFM@;<E:@81 ALQ>8;F ;<:@DF HL@EKF ;< CF :@M@C ;< G@:?@E:?8%$ DXZ_XZ_`# X (. [\ =<9I<IF [\c )'((2 X cXj '0_('%$ M@JKFJ1 CX [\dXe[X hl\ Xek\Z\[\ gi\j\ekX[X gfi cX j\ÂŒfiX 8E8 CL:@8 HL@CCLG8E>L@ DFIF:?F# jfYi\ [`mfiZ`f ZXljXc# gfi ZcXiX p Zfdgc\kX# i\Â’e\ Zfe cfj i\hl`j`kfj [\ C\p# iXqÂ?e gfi cX hl\ j\ cX XZ\g$ kX Xc ki}d`k\ \e al`Z`f M\iYXc JldXi`f% <e Zfej\Zl\eZ`X# k\e`\e[f gi\j\ek\ \c aliXd\ekf i\e[`[f gfi \c ZfdgXi\Z`\ek\# [\ XZl\i[f X cf \jkXYc\Z`[f \e \c 8ik% ((/ [\c :Â?[`^f :`m`c# \e ZfeZfi[XeZ`X Zfe cf gi\jZi`kf \e \c 8ik% /) `eZ`jf k\iZ\if [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c :f[`]`ZX[f# Zˆk\j\ Xc [\dXe[X$ [f N8J?@E>KFE ?@GFC@KF :?8E>FCL@J8 :?@:8@Q8# gfi cX gi\ejX# d\[`Xek\ ki\j glYc`ZXZ`fe\j [\ le \okiXZkf [\ cX [\dXe[X p \jkX gifm`[\e$ Z`X# hl\ j\ _Xi}e \e le g\i`Â?$ [`Zf [\ cX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# gfi ZXi\Z\i \jk\ :XekÂ?e [\ g\i`Â?$ [`Zfj [\ glYc`ZXZ`fe\j i\^l$ cXi2 [\Y`\e[f d\[`Xi \eki\ leX p fkiX glYc`ZXZ`Â?e# fZ_f [ˆXj gfi cf d\efj% 8^i„^l\j\ X cfj Xlkfj cX [fZld\ekXZ`Â?e hl\ j\ _X X[alekX[f# gXiX cfj ]`e\j [\ C\p% K„e^Xj\ gi\j\ek\ cX ZlXekˆX ]`aX[X# cX Xlkfi`qXZ`Â?e Zfe]\i`[X Xc ;i% IXd`if KfXcfdYf :Xc[\iÂ?e2 p# \c ZXj`cc\if al[`Z`Xc Eif% *-# j\ÂŒXcX[f gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j% Efk`]ˆhl\j\% = ;i% Afihl\ ;lhl\ >iXeaX% Al\q ;„Z`df Hl`ekf [\ cf :`m`c [\ G`Z_`eZ_X% GXik`ZlcXi hl\ gfe^f \e jl ZfefZ`d`\ekf gXiX cfj ]`e\j [\ C\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc# gXiX gfjk\i`fi\j efk`$ ]`ZXZ`fe\j# [\ekif [\c g\iˆd\$ kif [\ \jk\ alq^X[f# Xhlˆ \e cX Z`l[X[ [\ DXZ_XZ_`% Cf hl\ Zfdle`Zf X L[%# gXiX cfj ]`e\j [\ C\p% :\ik`]`Zf% ;I% N8J?@E>KFE DFC@E8 M%

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./-(-&k] I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% :@K8:@äE AL;@:@8C 81 ;8EK< ;8E@<C :8A8D8I:8 C<>8I;8# ;< C8 ;<D8E;8 M<I98C JLD8I@8# HL< J@>L< <E JL :FEKI8 > <FM8 E E 8 M8 C < I @ 8 I@M8;<E<@I8 F98E;F 8:KFI81 ><FM8EE8 M8C<I@8 I@M8;<E<@I8 F98E;F ;<D8E;8;F1 ;8EK< ;8E@<C :8A8D8I:8 C<>8I;8 KIĂ?D@K<1 M<I98C JLD8I@F 8JLEKF1 ;@MFI:@F AL@:@F Ef% ''/+$)'(( DJ :L8EKĂ 81 @E;<K<ID@E8;8 ;FD@:@C@F AL;@:@8C Ef% +/0) ;i% GXki`Z`f GX`ccXZ_f :_% GIFM@;<E:@8J ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# cle\j (+ [\ ]\Yi\if [\c )'((# ('_,'%$ M@JKFJ1 ;i% :i`jkÂ?YXc Fa\[X DXikˆe\q# XmfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX# \e m`ikl[ [\ cX XZZ`Â?e [\ g\ijfeXc Ef% *(+$ ;G$;GG [\ (' [\ ]\Yi\if [\c )'((% <e cf gi`eZ`gXc# cX [\dXe$ [X hl\ Xek\Z\[\ \j ZcXiX# gi\$ Z`jX p i\Â’e\ cfj [\d}j i\hl`$ j`kfj [\ c\p% <j gifZ\[\ek\ \c ki}d`k\ M\iYXc JldXi`f# \e Zfej\Zl\eZ`X [\ Zfe]fid`[X[ Zfe \c aliXd\ekf i\e[`[f p cf gi\m`jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# Zˆk\j\ Xc [\dXe[X[f j\ÂŒfi ;8EK< ;8E@<C :8A8D8I:8 C<>8I;8# d\[`Xek\ ki\j glYc`ZXZ`fe\j [\ gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e \[`kX[fj \e \jkX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# cl^Xi [fe[\ j\ i\X$ c`qÂ? \c dXki`dfe`f2 d\[`Xe[f fZ_f [ˆXj Xc d\efj \eki\ leX p fkiX glYc`ZXZ`Â?e Zfe]fid\ cf gi\m„ \c 8ik% ((0 [\c :Â?[`^f :`m`c%$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f% :ˆk\j\ p efk`]ˆhl\j\%$ ] ;iX% DÂ?e`ZX =cfi GXqd`ÂŒf# Al\qX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e [\ j\ÂŒXcXi ZXj`ccX al[`Z`Xc# \e cX Z`l[X[ [\ Hl`kf$<ZlX[fi# gXiX gfjk\$ i`fi\j efk`]`ZXZ`fe\j%$ 8Y% DXi`f CXjjf Fik\^X J<:I<K8I@F ;<C ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp le j\ccf 8I&/)++-&ZZ I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 AL8E G89CF K@I8;F C8I>F <OKI8:KF 8:KFI81 EFID8 O@D<E8 G@CC8AF G@CC8AF ;<D8E;8;F1 AL8E G89CF K@I8;F C8I>F AL@:@F ;< ;@MFI:@F Ef% ('0$ )'(($ D% >fi[Â?e :% :FE =LE;8D<EKF <E <C 8IK% ((' ELD<I8C (( ;<C :ä;@>F :@M@C :L8EKĂ 81 @E;<K<ID@E8;8% ;<=<EJFI1 ;I% 8L>LJKF C8I8 :8J@CC8 AL;@:@8C Ef -',0 =<:?8 ;< @E@:@F1 )- ;< =<9I<IF ;<C )'(( GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# dXik\j )) [\ ]\Yi\if [\c )'((# cXj (,_(+% M@JKFJ1 CX [\dXe$ [X [\ [`mfiZ`f hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â’e\ cfj [\d}j i\hl`j`kfj c\^Xc\j# \e Zfej\Zl\eZ`X j\ cX X[d`k\ X ki}d`k\ m\iYXc jldXi`f%$ J\

ă

[\j`^eX Xc Ji% Cl`j Fcd\[f G`ccXaf DXjXYXe[X# :liX[fi 8[ c`k\d [\c d\efi 9iXpXe E`ZfcXj K`iX[f G`ccXaf# hl`\e kfdXi} gfj\j`Â?e [\ jl ZXi^f \c [ˆX )) [\ dXiqf [\c )'(( X cXj '/_*'%$ 8k\ekf \c aliX$ d\ekf \]\ZklX[f gfi cX 8ZkfiX# :Ă K<J< X AL8E G89CF K@I8;F C8I>F gfi cX gi\e$ jX Zfdf [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# d\[`Xek\ glYc`ZXZ`fe\j \]\ZklX[Xj \e le g\i`Â?[`Zf [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc%$ EFK@=Ă HL<J<% ;I% 8C=I<;F >I@A8CM8 DLzFQ AL<Q Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc gÂ’Yc`Zf \e ^\e\iXc# gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J\Zi\kXi`f ?Xp le j\ccf 8I&/)+-)&ZZ ALQ>8;F GI@D<IF ;< CF :@M@C ;< J8EKF ;FD@E>F ;< CFJ KJĂ?:?@C8J <OKI8:KF :@K8:@äE AL;@:@8C1 8C J<zFI :8ICFJ 8C9<IKF HL@E8KF8 :8@Q82 J< C< ?8:< J89<I1 AL@:@F1 M<I98C JLD8I@F Æ ;@MFI:@F Ef .0$)'(( 8:KFI81 =CFI D8I@8 K@KL8z8 DL<E8C8 ;<D8E;8;F1 :8ICFJ 8C9<IKF HL@E8KF8 :8@Q8 :L8EK@81 @E;<K<ID@E8;8 AL<Q1 ;I% <;>8I;F C8I8 8M<IFJ J <: I < K8 I @ 8 1 D 8 I @ 8 8C@:@8 =8I<Q IFD<IF ;< :FIE<AF <DGC<8;81 c\jd GIFM@;<E:@8J1 ALQ>8;F GI@D<IF ;< CF :@M@C ;< J8EKF ;FD@E>F ;< CFJ KJĂ?:?@C8J% JXekf ;fd`e^f# al\m\j (' [\ ]\Yi\if [\c )'((# cXj (+_'.% 8mfZf ZfefZ`d`\ekf \e cX gi\$ j\ek\ ZXljX# \e m`ikl[ [\c jfi$ k\f i\Xc`qX[f%$ Gi\m`f X gifm\\i jfYi\ cf gi`eZ`gXc# cX XZkfiX ZfdgXi\qZX X \jkX al[`ZXkliX p i`e[X \c aliXd\ekf gi\m`jkf \e \c `eZ`jf k\iZ\if [\c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# Xgc`ZXYc\ X \jk\ ki}d`k\# \e ZlXchl`\i [ˆX p _fiX _}Y`c%$ ?}^Xj\ jXY\i% ] % ;i% <[^Xi[f CXiX 8m\ifj% ALQ>8;F GI@D<IF ;< CF :@M@C ;< J8EKF ;FD@E>F ;< CFJ KJĂ?:?@C8J% JXekf ;fd`e^f# d`„iZfc\j )* [\ ]\Yi\if [\c )'((# cXj (+_).% M@JKFJ1 LeX m\q hl\ cX gXik\ XZkfiX _X [X[f Zldgc`d`\ekf X cf [`jgl\jkf \e [\Zi\kf Xek\$ i`fi% <e cf gi`eZ`gXc# cX [\dXe$ [X hl\ Xek\Z\[\ \j ZcXiX p hl\ i\Â’e\ cfj [\d}j i\hl`j`kfj c\^Xc\j%$ <e Zfej\Zl\eZ`X \j gifZ\[\ek\ \c ki}d`k\ \e Al`Z`f M\iYXc JldXi`f [\ ;`mfiZ`f% 8k\ekf \c aliXd\ekf i\e[`[f gfi cX XZkfiX p [\ Zfe]fid`[X[ Zfe cf gi\m`jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# \e ZfeZfi[XeZ`X Zfe \c 8ik% ((0 [\c :Â?[`^f :`m`c# Zˆk\j\ Xc [\dXe[X[f j\ÂŒfi :8ICFJ 8C9<IKF HL@E8KF8 :8@Q8# gfi cX gi\ejX \e lef [\ cfj [`X$ i`fj [\ dXpfi Z`iZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ p \e cX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# d\[`Xe[f \eki\ leX p fkiX glYc`ZXZ`Â?e fZ_f [ˆXj gfi cf d\efj%$ 8^i„^l\j\ cX [fZld\ekXZ`Â?e X[alekX%$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f p cX Xlkfi`$ qXZ`Â?e [X[X X jl [\]\ejfiX2 Xjˆ Zfdf kXdY`„e k„e^Xj\ \e Zl\ekX cf dXe`]\jkX[f \e \c \jZi`kf hl\ Xek\Z\[\%$ ?}^Xj\ jXY\i ] % ;i% <[^Xi[f CXiX 8m\ifj%

Ĺ? Ĺ?

Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

Ä…

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j c\^Xc\j# j\ gi\m`\e\ Xc [\dXe[X[f [\ j\ÂŒXcXi ZXj`ccX al[`Z`Xc gXiX cXj efk`]`ZXZ`fe\j gfjk\i`fi\j% JiX% DXiˆX 8c`Z`X =}i\q Ifd\if [\ :fie\af J<:I<K8I@8 ;<C ALQ>8;F GI@D<IF ;< CF :@M@C ;< J8EKF ;FD@E>F ;< CFJ KJ8:?@C8J% (+/+(/&dcq&jkf[^f% <OKI8:KF ALQ>8;F HL@EKF ;< CF :@M@C ;< @98II8 :@K8:@äE 81 I8HL<C J@CM8E8 >8C8IQ8 M<C8J:F 8:KFI1 I8L= 98J?@I ;<D8E;8;F1 I8HL<C J @ CM8 E 8 > 8 I C 8 I Q 8 M<C8J:F ;FD@:@C@F ;<C 8:KFI 89% D8I:F G8II<zF :8J@CC<IF EIF% (AL@:@F M<I98C JLD8I@F D8K<I@81 ;@MFI:@F EIF ('*$)'(( II :L8EK@81 @E;<K<ID@E8;8 GIFM@;<E:@8 ALQ>8;F HL@EKF ;< CF :@M@C ;< @D989LI8% @YXiiX# dXik\j (, [\ dXiqf [\c )'((# cXj (+_).% M@JKFJ1 ?XY`„e[fj\ [X[f Zldgc`d`\ekf X cf fi[\$ eX[f \e gifm`[\eZ`X Xek\i`fi# j\ ZXc`]`ZX cX [\dXe[X \j ZcXiX# Zfdgc\kX# gi\Z`jX p i\Â’e\ cfj i\hl`j`kfj [\ c\p hl\ c\ Zfii\j$ gfe[\# gfi cf hl\ j\ XZ\gkX X ki}d`k\ M\iYXc JldXi`f% 8k\ekf \c aliXd\ekf p [\ Zfe$ ]fid`[X[ Zfe cfj 8ikj% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c M`^\ek\ p ((0 [\c :Â?[`^f :`m`c Zˆk\j\ Xc [\dXe[X[f I8HL<C J@CM8E8 >8C8IQ8 M<C8J:F gfi cX gi\ejX d\[`Xek\ ki\j glYc`ZXZ`fe\j \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l[X[ [\ Hl`kf p \jkX Z`l[X[ [\ @YXiiX Zfdf cX d\[`Xe[f fZ_f [ˆXj _}Y`c\j \eki\ ZX[X leX% K„e^Xj\ \e Zl\ekX cX ZlXekˆX p ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f% 8^i„^l\j\ cX [fZld\ekXZ`Â?e gi\j\ekX[X% Efk`]ˆhl\j\ = ;i% E\cjfe EXmXii\k\% Al\q% <c J\Zi\kXi`f% :\ik`]`ZX Cf hl\ Z`kf X L[% GXiX cfj ]`e\j [\ C\p# @YXiiX% DXiqf )( [\c )'(( CZ[f% =XY`}e ?`[Xc^f J<:I<K8I@F ?Xp ]`idX p j\ccf 8[&))())&X` I% [\c <% ALQ>8;F :L8IKF ;< CF :@M@C :@K8:@FE AL;@:@8C 81 9FI@J <;L8I;F :<;<zF M@EK@D@CC8# c\ _X^f jXY\i1 Hl\ \e \jkX al[`ZXkliX j\ kiXd`kX \c Al`Z`f [\1 ;@:FI:@F Ef% ''/($ )'(( hl\ c\ j`^l\1 D8I:<C8 M<IFE@:8 LM@;@8 I@M8J \e ZfekiX [\1 9FI@J <;L8I;F :<;<zF M@EK@D@CC8# Zlpf \okiXZkf [\ [\dXe[X p gifm`$ [\eZ`X i\ZXˆ[X# jfe [\c k\efi hl\ j`^l\1 <OKI8:KF ;< ;<D8E;81 8:KFI1 D8I:<C8 M<IFE@:8 LM@;@8 I@M8J% ; < D 8 E ;8 ; F 1 9 F I @ J <;L8I;F : < ; < z F M@EK@D@CC8 KI8D@K<1 ;@MFI:@F :L8EK@81 @E;<K<ID@E8;8 AL<Q1 ;I% J8EK@8>F FIFQ:F FC<8J J<:I<K8I@8 < 1 89% IF:@F E8IM8<Q% GIFM@;<E:@81 ALQ>8;F :L8IKF ;< CF :@M@C P D<I:8EK@C ;< :?@D9FI8QF% I`fYXdYX# cle\j (+ [\ ]\Yi\if [\c )'((# cXj '0_*(% M@JKFJ1 Gfi ZlXekf j\ _X [X[f Zldgc`d`\ekf X cf fi[\eX[f \e gifm`[\eZ`X Xek\$ i`fi%$ <e cf gi`eZ`gXc# cX [\dXe$

[X [\ [`mfiZ`f gi\j\ekX[X gfi DXiZ\cX M\i�e`ZX Lm`[`X I`mXj# \e ZfekiX [\ 9fi`j <[lXi[f :\[\Œf M`ek`d`ccX# \j ZcXiX p Zfdgc\kX# i\’e\ cfj i\hl`j`kfj [\ c\p# iXq�e gfi cX hl\ j\ c\ XZ\gkX X ki}d`k\ [\ al`Z`f m\i$ YXc jldXi`f%$ Ef j\ [`jgfe\ hl\ `ek\im\e^X \e cX gi\j\ek\ ZXljX \c j\Œfi 8^\ek\ =`jZXc [\ cX E`Œ\q p 8[fc\jZ\eZ`X [\ :_`dYfiXqf# \e iXq�e [\c f]`Z`f Ef ''/.0'$J>$=>< [\ \jkX ]\Z_X )' [\ efm`\d$ Yi\ [\c )''/# jljZi`kf gfi \c j\Œfi J\Zi\kXi`f >\e\iXc [\ cX =`jZXcˆX >\e\iXc [\c <jkX[f%$ 8 cX d\efi BXk`ljbX ?Xm`^X`c Lm`[`X I`mXj# gifm„Xj\c\ [\ le ZliX[fi X[$c`k\d# gXiX hl\ c\ i\gi\j\ek\ \e \jk\ al`Z`f# p gXiX Zlpf fYa\kf k„e^Xj\ \e Zl\ekX cX `ej`elXZ`�e hl\ j\ _XZ\ \e cX g\ijfeX [\ cX j\ŒfiX D`i`Xd GXki`Z`X Lm`[`X ?ldXeXek\%$ :fdf cX gi\efdYiX[X XZZ`f$ eXek\# [\ZcXiX YXaf aliXd\ekf hl\ c\ \j `dgfj`Yc\ [\k\id`$ eXi \c [fd`Z`c`f [\c [\dXe$ [X[f 9fi`j <[lXi[f :\[\Œf M`ek`d`ccX# [\ Zfe]fid`[X[ Zfe cf gi\jZi`kf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c :f[`]`ZX[f# Zˆk\j\c\ gfi d\[`f [\ lef [\ cfj [`Xi`fj hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ I`fYXdYX# Xjˆ Zfdf kXd$ Y`„e [\ cX Z`l[X[ [\ Hl`kf cl^Xi [fe[\ j\ _X Z\c\YiX[f \c dXki`dfe`f# Zfe]fid\ Xjˆ cf [`jgfe\ \c 8ik% ((0 [\c :�[`^f :`m`c# Zfe \c \okiXZkf [\ cX [\dXe[X p \jkX gifm`[\eZ`X# gfi ki\j fZXj`fe\j [`]\i\ek\j# d\[`Xe[f gfi cf d\efj fZ_f [ˆXj [\ cX leX glYc`ZXZ`�e X cX fkiX# gi\m`e`„e[fc\ hl\ [\ ef ZfdgXi\Z\i X al`Z`f m\`ek\ [ˆXj gfjk\i`fi\j X cX k\iZ\iX p ’ck`dX glYc`ZXZ`�e gf[i} j\i [\ZcXiX[f f Zfej`[\iX[f i\Y\c[\%$ CX ZlXekˆX gfi `e[\$ k\id`eX[X%$ K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ŒXcX[f p cX Xlkfi`qXZ`�e ZfeZ\[`[X X jl XYf^X[f [\]\ejfi%$ 8^i„^l\j\ Xc gifZ\jf cfj [fZld\e$ kfj gi\j\ekX[fj%$ :ˆk\j\ p Efk`]ˆhl\j\%$ =`idX @c\^`Yc\ ;I% J8EK@8>F FIFQ:F FC<8J AL<Q ?Xp le j\ccf (0,('&0.,-0

D<EFI<J I% [\c <% 8c j\ÂŒfi 8E;I<J J<98JK@Ă?E I8DĂ I<Q ?<II<IĂŁ8 p Xc gÂ’Yc`Zf \e ^\e\iXc# c\j _X^f jXY\i cf j`^l`\ek\1 <OKI8:KF AL;@:@8C1 8:KFI8% D8I@8 8C<A8E;I8 ;FEFJF :?@I@9F>8 ;<D8E;8;F1 8E;I<J J < 98JK @ Ă? E I8 D Ă I < Q ?<II<IĂŁ8 D<EFI1 D8I@8 <D@C@8 ;FEFJF :?@I@9F>8 AL@:@F1 8C@D<EKFJ **,- Æ )''. Æ ACC% KI8D@K<1 :FEK<E:@FJF ><E<I8C :L8EKĂ 81 D@C F:?F:@<EKFJ ;äC8I<J AL<Q1 ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8 GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8%$ Hl`kf# d`„iZf$ c\j (- [\ ]\Yi\if [\c )'((# cXj ('_+-%$ M@JKFJ1 8mfZf Zfef$ Z`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f X \jk\ Alq^X[f \e cX f]`Z`eX g\ik`e\ek\%$ CX i\ZcXdXZ`Â?e \j ZcXiX# gi\Z`jX# Zfdgc\kX p i\Â’e\ cfj i\hl`j`kfj [\ c\p# gfi cf hl\ j\ cX XZ\gkX X ki}d`k\ c\^Xc Zfii\jgfe[`\ek\# p leX

m\q hl\ cX XZkfiX _X [\ZcXiX[f YXaf aliXd\ekf hl\ [\jZfefZ\ cX i\j`[\eZ`X p \c [fd`Z`c`f [\c j\ÂŒfi 8E;I<J J<98JK@8E I8D@I<Q ?<II<IĂŁ8# Zfe ]le[Xd\ekf \e \c Zfek\e`[f [\c 8ikˆZlcf `eeld\iX[f *,# [\ cX C\p I\]fidXkfi`X Xc Kˆklcf M# C`Yif j\^le[f [\c :Â?[`^f [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X# Zˆk\$ j\ \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZlcXZ`Â?e X e`m\c eXZ`feXc# leX# ( glYc`ZX$ Z`Â?e# [\ Zfe]fid`[X[ Zfe cf \jkXYc\Z`[f \e \c 8ik% /)# [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# gi\m`e`„e[fc\ hl\ [\ ef Zfd$ gXi\Z\i [\ekif [\ m\`ek\ [ˆXj ZfekX[fj [\j[\ \c [ˆX j`^l`\e$ k\ [\ cX glYc`ZXZ`Â?e# j\ jljkXe$ Z`Xi} \c ki}d`k\ \e i\Y\c[ˆX% $ K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f gfi cX XZkfiX p X^i„^l\j\ cX [fZld\ekX$ Z`Â?e gi\j\ekX[X%$:Ă K<J< P EFK@=Ă HL<J<%$ ] %$ ;I% AFJ< D8I@8 ;LI8E GFE:<# AL<Q K@KLC8I% = ;i% Afj„ DXiˆX ;li}e GfeZ\ $ Al\q GXik`ZlcXi hl\ Zfdle`Zf# gXiX cfj ]`e\j [\ c\p% ;I8% @E<J 8QL:<E8 8CD<@;8 <EI@HL<Q J<:I<K8I@8 ALQ>8;F GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8 ACC ?Xp ]`idX p j\ccf 8:&./-/(&k] <OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 81 D@IP8E AL;@K? HL@JG< 8:Lz8 AL@:@F1 ;@MFI:@F Ef% )'(($'')+$A:K 8:KFI1 ?<IE8E :8@Q8 <J:F98I ;<D8E;8;81 D@IP8E AL;@K? HL@JG< 8:Lz8% ;FD@:@C@F AL;@:@8C1 ;I8% IFJ8C@8 CLE8% :L8EK@81 @E;<K<ID@E8;8% F9A<KF1 ;< :FE=FID@;8; :FE CF ;@JGL<JKF GFI <C 8IK% (('# :8LJ8C ((# J<>LE;F @E:@JF ;<C :F;@>F :@M@C# ;<D8E;8 8 JL :äEPL>< JI8% D@IP8E AL;@K? HL@JG< 8:Lz8 <C ;@MFI:@F# 8 =@E ;< HL< <E J<EK<E:@8 J< ;<:C8I< ;@JL<CKF <C M@E:LCF D8KI@DFE@8C HL< C<J LE<# FI;<E8E;F JL @EJ:I@G:@äE <E <C I<>@JKIF :@M@C%$ ALQ>8;F EFM<EF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# al\m\j * [\ DXiqf [\c )'((# X cXj ((?+.%$ M@JKFJ1 Gfi _XY\i Zldgc`[f cf fi[\eX[f

IebWc[dj[ YkWdZe cWZkhW YW[ [b \hkje Z[ bW \ehjkdW$ @E>7DD 9>H?IJEF> <H?;:H?9> LED I 9 > ? B B ; H $

\e gifm`[\eZ`X `e`Z`Xc# \e m`i$ kl[ [\c jfik\f i\Xc`qX[f# XmfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q Jlgc\ek\ [\ \jkX Al[`ZXkliX%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX p gi\Z`jX# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ M<I98C JLD8I@F%$ :Â?iiXj\ kiXjcX[f Zfe \c \jZi`kf [\ [\dXe[X p \jkX gifm`[\e$ Z`X# X cX [\dXe[X[X j\ÂŒfiX D@IP8E AL;@K? HL@JG< 8:Lz8# X hl`\e j\ cX Z`kXi} gfi cX gi\ejX# \e cX ]fidX [`jgl\j$ kX gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ K„e^Xj\ \e Zl\ekX \c [fd`Z`c`f p ZXj`$ cc\if al[`Z`Xc [\j`^eX[fj gfi \c XZkfi p cX ]XZlckX[ ZfeZ\[`[X X jl [\]\ejfi 89>% IFJ8C@8 CLE8%$ :Â’\ek\j\ Zfe lef [\ cfj j\ÂŒfi\j 8^\ek\j =`jZXc\j [\ G`Z_`eZ_X# i\jg\Zkf X cX `ej`elXZ`Â?e [\ cX ZliX[fiX X[$ c`k\d%$ 8^i„^l\j\ Xc gifZ\jf cfj [fZld\ekfj gi\j\ekX[fj%$ EFK@=@HL<J<%$ ] ;i% A8@D< :8EJ<:F >L<II<IF# Al\q% Gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`ccX al[`Z`Xc [\ekif [\c g\iˆd\kif c\^Xc# \e cX ]fidX \jkXYc\Z`[X gfi cX C\p% ;I% ALC@F :<J8I DLzFQ DJ:% J<:I<K8I@F ;<C ALQ>8;F EFM<EF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.//0.&k] I% ;<C <% ALQ>8;F EFM<EF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8% :@K8:@äE AL;@:@8C 8C J<zFI CL@J 8C<A8E;IF M@M8E:F K8J@G8EK8% <OKI8:KF :8LJ8 JLJG<EJ@FE ;< G8KI@8 GFK<JK8; Ef% ;< AL@:@F '*')$)'(($;I% A8D% ;<D8E;8;F C L @ J 8 C < A8 E ; IF M @ M8 E :F K8J@G8EK8

CONVOCATORIA Junta Extraordinaria Según lo dispuesto en el artículo 26 de la Ley de Compaùías GRANAK EL CHANCHITO CIA. LTDA. Convoca a la Junta General Extraordinaria a todos los socios y accionistas que conforman la misma, a la sesión a realizarse el día miÊrcoles 25 de Abril del 2011 a las 14H00 en su domicilio ubicado en la calle Pablo del Solar 389 e Isla Seymur. Nota: de no contar con el quórum necesario se iniciarå una hora posterior a la seùalada con el número de socios presentes y sus decisiones serån respetadas. Orden del día: 1. Constatación del quórum 2. Resolución de problemas Legales de la Empresa Atentamente,

8:KFI 8E8 CL:@8 =CFI<J HL@>L@I@ :L8EK@8 @E;<K<ID@E8;8 AL<Q 89% D @ CKF E HL@EK<IFJ AL<Q EFM<EF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8 ALQ>8;F EFM<EF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8%$Hl`kf# d`„iZfc\j )* [\ fZklYi\ [\c )'((# cXj ('?))%$ M@JKFJ1 8MF:F ZfefZ`d`\ekf [\ cX [\dXe[X hl\ Xek\Z\[\# \e d` ZXc`[X[ [\ Al\q k`klcXi [\c Alq^X[f Efm\ef [\ cX E`Œ\q p 8[fc\jZ\eZ`X p \e iXq�e [\c jfik\f [\ C\p# cX d`jdX hl\ gfi j\i ZcXiX p gfi i\le`i cfj i\hl`j`kfj [\c 8ik% -. [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# j\ XZ\gkX X ki}d`k\ gi\m`jkf \e cX C\p I\]fidXkfi`X Xc :�[`^f [\ cX E`Œ\q p 8[fc\jZ\eZ`X glYc`ZX[X \e \c I%F% J% -+* [\ )/ [\ Alc`f [\ )%''0%$ Gfi cf hl\ [`jgfe^f1 ( :ˆk\j\ \e c\^Xc ]fidX Xc [\dXe[X$ [f j\Œfi CL@J 8C<A8E;IF M@M8E:F K8J@G8EK8 \e iXq�e [\c aliXd\ekf hl\ k`\e\ i\e[`[f# Zfe]fid\ [`jgfe\ \c 8ikˆZlcf /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcX$ Z`�e [\ \jkX Z`l[X[ [\ Hl`kf# cX d`jdX hl\ j\ cf _Xi} \e [ˆXj p _fiXj _}Y`c\j% 8[\d}j j\ c\ X[m`\ik\ Xc [\dXe[X[f cX fYc`^XZ`�e hl\ k`\e\ [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc gXiX i\Z`Y`i efk`]`ZXZ`fe\j hl\ c\ Zfii\jgfe[Xe% ) %$ \emˆ\j\ \c \og\[`\ek\ cX F]`Z`eX K„Ze`ZX [\ cfj Alq^X[fj [\ cX E`Œ\q

p 8[fc\jZ\eZ`X [\ Hl`kf# p cX ;@E8G<E X ]`e [\ hl\ i\Xc`Z\e leX Zfdgc\kX `em\jk`^XZ`Â?e jfYi\ cfj _\Z_fj i\cXkX[fj \e cX [\dXe[X%$ * %$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc eÂ’d\if ,(,,# j\ÂŒXcX[f gfi cX XZkfiX gXiX jlj efk`]`ZX$ Z`fe\j% + %$ 8^i„^l\j\ X cfj Xlkfj cfj [fZld\ekfj XgX$ i\aX[fj X cX [\dXe[X%$ , %$ 8ZkÂ’\ \c ;i% I\e„ 9XiYX \e ZXc`[X[ [\ J\Zi\kXi`f K`klcXi [\ cX Al[`ZXkliX%$ :Ă K<J< P EFK@=@HL<J<%$ ] % Æ 89% D@CKäE HL@EK<IFJ# AL<Q% Cf hl\ Zfdle`Zf X ljk\[# gXiX cfj ]`e\j [\ C\p# gi\m`e`„e[f$ c\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi [fd`Z`c`f f ZXj`ccX al[`Z`Xc gXiX gfjk\i`fi\j efk`]`$ ZXZ`fe\j [\ekif [\c g\iˆd\kif [\ C\p% 8k\ekXd\ek\1 ;I% I\e„ 9XiYX J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./-/0&k] I [\c <% ALQ>8;F J<OKF ;< CF :@M@C ;< :8EKFE J8C:<;F <OKI8:KF 8c [\dXe[X[f1 ?L>F I<E< G@C@:@K8 :8@Q8# j\ c\j _XZ\ jXY\i cf hl\ j`^l\1 :8LJ81 E— ',(.$)'('$ AL@:@F1 8C@D<EKFJ 8:KFI8 DFE@:8 ?<II<I8 >L8EFG8K@E ;<D8E;8;F1 G`c`Z`kX :X`qX ?l^f F9A<KF1 :fe ]le[Xd\e$ kf [\ cfj 8ikj% )' p )- [\c :Â?[`^f Fi^}e`Zf [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X2 p 8ikj% )# +# ,# (, p (- @eeld\iX[fj [\ cX C\p I\]fidXkfi`X Xc Kˆklcf M# C`Yif J\^le[f :Â?[`^f Fi^}e`Zf [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X% :L8EK@81 (%0)'#'' 8LKF1 ALQ>8;F J<OKF ;< C8 :@M@C ;< J8C:<;F% JXcZ\[f# cle\j )/ [\ ]\Yi\if [\c )'((# cXj (,_*(% M@JKFJ1 8mfZf ZfefZ`$

REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ‘IAS

EXTRACTO CONSTITUCIĂ“N DE LA COMPAĂ‘Ă?A TYAZHMASH ECUADOR S.A. La compaùía TYAZHMASH ECUADOR S.A. se constituyĂł por escritura pĂşblica otorgada ante el Notario Primero del Distrito Metropolitano de Quito, el 05 de Abril de 2011, fue aprobada por la Superintendencia de Compaùías, mediante ResoluciĂłn SC.IJ.DJC. Q.11.001729 de 18 de Abril de 2011. 1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de Pichincha. 2.- CAPITAL: Suscrito US$ 5.000,00 NĂşmero de Acciones 5.000 Valor US$ 1,00 3.- OBJETO: El objeto de la compaùía es: A) MONTAJE, FABRICACIĂ“N, REPARACIĂ“N Y DISEĂ‘O DE EQUIPOS ELECTROMECĂ NICOS M E TA L M E C Ă N I C O S E HIDROMECĂ NICOS DE CUALQUIER CLASE,... Quito, 18 de Abril de 2011. Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ‘Ă?AS

RocĂ­o Berrezueta PRESIDENTE AR/82643/cc

d`\ekf [\ cX gi\j\ek\ ZXljX# Xk\ekf Xc jfik\f i\Xc`qX[f p \e d` ZXc`[X[ [\ Al\q K`klcXi [\ \jkX Al[`ZXkliX%$ <e cf gi`eZ`$ gXc1 J\ [`jgfe\1 CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX# Zfdgc\kX p i\Â’e\ cfj i\hl`j`kfj c\^Xc\j%$ KiXdˆk\j\ [\ Zfe]fi$ d`[X[ Xc GifZ\[`d`\ekf \jkX$ Yc\Z`[f \e \c :Xgˆklcf @@ [\ cX C\p I\]fidXkfi`X Xc Kˆklcf M# [\c c`Yif @@ [\c :Â?[`^f Fi^}e`Zf [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X%$ J\ ]`aX Zfdf g\ej`Â?e Xc`d\ek`Z`X gifm`Z`feXc \e cX gi\j\ek\ ZXljX# cX ZXek`[X[ [\ .,%*( [Â?cXi\j d\ejlXc\j# hl\ Zfii\jgfe[\ Xc gi`d\i e`m\c# Xc )/%,* # d}j cfj Y\e\]`Z`fj [\ C\p# hl\ j\i}e [\gfj`kX[fj \e cX :l\ekX [\ 8_fiifj eÂ’d\$ if *.+-))00'' [\c 9XeZf [\c G`Z_`eZ_X%$ <e d\i`kf Xc aliX$ d\ekf i\e[`[f p Zfe]fid\ cf [`jgfe\ \c 8ik% /) `eZ% ) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c Zˆk\j\ Xc [\dXe[X[f ?L>F I<E< G@C@:@K8 :8@Q8# Zfe cX [\dXe[X p Xlkf \e \c# i\ZXˆ[f gfi le g\i`Â?[`Zf [\ dXpfi Z`iZlcXZ`Â?e [\ cX Z`l$ [X[ [\ Hl`kf p CXkXZle^X%$ 8 cX j\ÂŒfiX1 D8I@8 :8ID<E :8@Q8 G@C@:@K8 \e ZXc`[X[ [\ fYc`^X[X jlYj`[`Xi`X# j\i} Z`kX$ [X \e \c cl^Xi hl\ j\ `e[`hl\ Xc J\ÂŒfi 8ZklXi`f# gXiX cf ZlXc ;\gi„hl\j\ X le J\ÂŒfi Al\q [\ cf :`m`c [\c :XekÂ?e D\aˆX# Gifm`eZ`X [\ G`Z_`eZ_X%$ P YXaf gi\m\eZ`fe\j [\ ef ZfdgXi\Z\i# j\ gifZ\[\i} \e i\Y\c[ˆX%$ ?\Z_f# j\ ZfemfZXiX X cXj gXik\j X 8l[`\eZ`X èe`ZX# cX d`jdX hl\ j\i} ]`aX[X [\e$ kif [\c k„id`ef [\ [`\q [ˆXj ZfekX[fj [\j[\ cX ]\Z_X [\ cX Z`kXZ`Â?e%$ 8[aÂ’ek\j\ Xc gifZ\$ jf cX gil\YXj gi\j\ekX[Xj%$ CX ZlXekˆX# ZXj`cc\if al[`Z`Xc p [\]\ejfi [\ cX gXik\ XZkfiX# hl\[Xe [\k\id`eX[fj%$ 8ZkÂ’\ \c ;I% :8ICFJ IF9<IKF :FI;FM8 G8:?<:F \e ZXc`$ [X[ [\ J\Zi\kXi`f <eZXi^X[f [\ cX Al[`ZXkliX%$ Efk`]ˆhl\j\ p GlYcˆhl\j\%$ ] ;i% M`Zkfi ?l^f 8cZfZ\i# Al\q J\okf [\ cf :`m`c

[\ JXcZ\[f%$ GXik`ZlcXi hl\ gfe^f \e jl ZfefZ`d`\ekf gXiX cfj ]`e\j [\ C\p%$ :\ik`]`Zf%$ ;i% I`ZXi[f :_`jX^lXef J<:I<K8I@F ?Xp leX ]`idX ?Xp le j\ccf ]&))+,+ ALQ>8;F ;y:@DF GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;<C :8EKäE HL@KF% <OKI8:KF AL;@:@8C :@K8:@äE AL;@:@8C 81 FJ:8I D@J8<C @J8 @J8% 8:KF I 1 D 8 I @ 8 E < C C 8 PF C 8 E ; 8 G8 I < ; < J G8I<;<J% ; < D 8 E ;8 ; F 1 FJ :8 I D@J8<C @J8 @J8% KIĂ?D@K<1 8C@D<EKFJ Ef% '(++$)'(($P%M% :L8EKĂ 81 *%-''#'' GIFM@;<E:@81 ALQ>8;F ;y:@DF GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8% Hl`kf# al\m\j (. [\ =\Yi\if [\c )'((# cXj (._**% M@JKFJ1 :ldgc`[X hl\ _X j`[f cX gifm`[\eZ`X [\ '* [\ =\Yi\if [\c )'(( p gfi i\le`i cfj i\hl`j`kfj [\c 8ik% -. [\ cX C\p 8[a\k`mX :`m`c% CX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX# gi\Z`jX p i\Â’e\ cfj i\hl`j`kfj \o`^`[fj gfi cX C\p2 \e Zfej\Zl\eZ`X# j\ X[d`k\ X ki}d`k\ gi\m`jkf \e cX C\p I\]fidXkfi`X Xc :Â?[`^f [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X glYc`$ ZX[X \e \c I%F% J% -+* [\ )/ [\ Alc`f [\ )%''0%$ Gfi _XY\i [\ZcXiX[f cX XZZ`feXek\ j\ÂŒf$ iX D8I@8E<CC8 PFC8E;8 G8I<;<J G8I<;<J# YXaf aliXd\ekf jfYi\ \c [\jZfef$ Z`d`\ekf [\ cX `e[`m`[lXc`[X[ f i\j`[\eZ`X [\c j\ÂŒfi FJ:8I D@J8<C @J8 @J8# gX[i\ [\ cXj d\efi\j >89I@<C8 =<IE8E;8 p <I@B8 E8P<C@ @J8 G8I<;<J# [\ Zfe]fid`$ [X[ Zfe cf \jkXYc\Z`[f \e \c 8ik% /)# @eZ% *if% ;\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgfe\ Z`kXi gfi cX gi\ejX# Xc j\ÂŒfi FJ:8I D@J8<C @J8 @J8#

CONVOCATORIA A JUNTA GENERAL ORDINARIA DE ACCIONISTAS DE LA COMPAĂ‘Ă?A CLĂ?NICA EL BATĂ N DEL POZO S.A. De conformidad con lo dispuesto en la Ley de Compaùías y en el estatuto social, se convoca a los accionistas de la compaùía CLĂ?NICA EL BATĂ N DEL POZO S.A., a la Junta General Ordinaria de Accionistas, que se realizarĂĄ el dĂ­a miĂŠrcoles 5 de mayo del 2011, a las 19H00, en el domicilio de la compaùía ubicado en la calle Muros No. 254 y GonzĂĄles SuĂĄrez de la ciudad de Quito, para tratar los siguientes puntos que constituyen el Orden del DĂ­a: 1. Conocimiento y aprobaciĂłn del balance general correspondiente al aĂąo 2010. 2. Conocimiento y aprobaciĂłn de los informes del Gerente General, del Presidente y del Comisario de la compaùía. 3. Resolver sobre el destino de las utilidades del ejercicio fiscal 2010, 4. Discutir y resolver el posible aumento de capital de la compaùía. 5. ElecciĂłn de la Junta Directiva. Dr. IvĂĄn Fernando del Pozo G. PRESIDENTE

AR/82638/cc

AR/82648/cc

d\[`Xek\ ki\j glYc`ZXZ`fe\j gfi cX gi\ejX hl\ j\ _Xi} \e ]\Z_Xj [`jk`ekXj# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`Â?e [\ cX gifm`eZ`X%$ J\ c\ X[m`\ik\ Xc [\dXe[X[f [\ jl fYc`^XZ`Â?e [\ ZfdgXi\Z\i X al`Z`f# YXaf gi\m\eZ`fe\j [\ Zfek`elXi cX ZXljX \e i\Y\c[ˆX# p [\ gi\j\e$ kXi jl gil\YX _XjkX +/ _fiXj Xek\j [\ cX 8l[`\eZ`X èE@:8# hl\ j\ j\ÂŒXcXi} [\ ]fidX `ed\[`XkX# leX m\q giXZk`ZX[X cX Z`kXZ`Â?e \e c\^Xc p [\Y`[X ]fidX# X cX hl\ [\Y\i} Zfd$ gXi\Z\i g\ijfeXcd\ek\ f gfi d\[`f [\ gifZliX[fi al[`Z`Xc [\Y`[Xd\ek\ Xlkfi`qX[f gXiX kiXej`^`i% 8^i„^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e gi\j\ekX[X gfi cX XZZ`feXek\ j\^Â’e Zfej$ kX [\ cX iXqÂ?e j\ekX[X gfi cX J\Zi\kXi`X [\ \jkX Al[`ZXkliX% :fe]fid\ X cfj XikˆZlcfj @eeld\iX[fj 0 p *, [\ cX Z`kX[X C\p I\]fidXkfi`X Xc :Â?[`^f [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X# j\ ]`aX gifm`j`feXcd\ek\ cX jldX [\ :@E:L<EK8 ;FC8I<J :FE J<@J :<EK8MFJ ,'%'- d\ejlXc\j# d}j cfj Y\e\]`$ Z`fj c\^Xc\j# [Xe[f le kfkXc [\ :@<E ;FC8I<J :FE ;F:< :<EK8MFJ (''#() gfi Zfe$ Z\gkf [\ g\ej`Â?e Xc`d\ek`Z`X \e Y\e\]`Z`f [\ cXj d\efi\j hl\ i\jgfe[\e X cfj efdYi\j [\1 >89I@<C8 =<IE8E;8 p <I@B8 E8P<C@ @J8 G8I<;<J# j\^Â’e ZfejkX [\ cX gXik`[X [\ eXZ`d`\ekf X[alekX# hl\ j\i}e gX^X[Xj gfi d\jX[Xj X[\cXekX[Xj X gXik`i [\ cX gi\j\ekXZ`Â?e [\ cX [\dXe[X p [\gfj`kX[Xj X kiXm„j [\c 9XeZf [\ >lXpXhl`c# gXiX cf ZlXc cX XZkfiX gifZ\[X X Xg\ikliXi cX kXia\kX BXi[\o \e cX F]`Z`eX [\ C`hl`[XZ`fe\j [\c Alq^X[f [\ cX E`ÂŒ\q p 8[fc\jZ\eZ`X Zfii\jgfe[`\ek\% <c XZZ`feX$ [f i\e[`i} :fe]\j`Â?e Al[`Z`Xc \e \c dfd\ekf d`jdf [\ cX 8l[`\eZ`X èe`ZX% F]ˆZ`\j\ Zfe]fid\ j\ jfc`Z`kX \e cfj c`k\iXc\j Z p [ [\ cX jfc`Z`kl[ gXiX cX fYk\eZ`Â?e [\ gil\YXj ZfejkXek\ \e \c ]fidlcXi`f [\ [\dXe[X%$ 8 g\k`Z`Â?e [\ gXik\# Zfe]fid\ gi\m\„ \c 8ikˆZlcf @eeld\iX[f ), @Y`[\d# j\ [`j$ gfe\ cX gif_`Y`Z`Â?e [\ jXc`[X [\c GXˆj# Xc [\dXe[X[f FJ:8I D@J8<C @J8 @J8# gfikX[fi [\ cX :„[lcX [\ :`l[X[XeˆX Ef% ()'*(+/+'$-# j\ Zfdl$ e`ZXi} Xc ;`i\Zkfi EXZ`feXc [\ D`^iXZ`Â?e p <okiXea\iˆX# d\[`Xek\ Xk\ekf f]`Z`f# gXiX

cf ZlXc cX XZZ`feXek\ ZfeZl$ iiX `ed\[`XkXd\ek\ X i\k`iXi \c f]`Z`f i\jg\Zk`mf%$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f gfi cX XZkfiX gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j%$ EFK@=@HL<J<% = ;I% AL8E 8C9<IKF :8;<E8 8% AL<Q CF HL< :F D L E @ :F G8I8 CFJ =@E<J ;< C<P# GI<M@E@yE;FC< ;< C8 F9C@>8:@äE ;< J<z8C8I :8J@CC<IF AL;@:@8C <E <JK8 :@L;8; ;< HL@KF G8 I 8 G F J K < I @ F I < J EFK@=@:8:@FE<J%$ :<IK@=@:F% ;I% D8EL<C J8C8Q8I =% J<:I<K8I@8 <E:8I>8;8 ;<C ALQ>8;F ;<:@DF GI@D<IF ;< C8 E@z<Q P 8;FC<J:<E:@8 ;< G@:?@E:?8 <o`jk\ ]`idX p j\ccf% 8%G%&+/0'0&b%d%

<A<:LK@MFJ I% [\c <% ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@FE AL;@:@8C G8I8 J<z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zFI AL<Q GIF:<;8 8 =@ID8I C8 <J:I@KLI8 ;< KI8EJ=<I<E:@8 ;< ;FD@E@F 8 =8CK8 F E<>8K@M8 ;< CFJ ;<D8E;8;FJ 8:FI;< 8 <JK89C<:@;F <E

<C @E:@JF ) ;<C 8IK% ++' ;<C :F;@>F ;< GIF:<;@D@<EKF :@M@C KI8D@K<1 <A<:LK@MF :L8EK@8 @E;<K<ID@E8;8 :8J@CC<IF AL;@:@8C EIF% ,**/ G<IK<E<:@<EK< 8C ;I% C@;<I :8CC< ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# dXik\j / [\ ]\Yi\if [\c )'((# cXj ()_')%$ M@JKFJ%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\$ cX gifZ\[\ek\ j\ cX XZ\gkX X ki}d`k\ <a\Zlk`mf gifgl\jkf%$ <e Zfej\Zl\eZ`X cfj [\dXe$ [X[fj :Xicfj 9\eaXdˆe I\`eX JXc^l\if p 9cXeZX CXjk\e`X I\`eX# \e jlj ZXc`[X[\j `emf$ ZX[Xj# [\e Zldgc`d`\ekf X cf jfc`Z`kX[f \e cX [\dXe[X \jkf \j Xc Zldgc`d`\ekf [\ cXj \jZi`$ kliXj [\]`e`k`mXj f gifgfe^Xe \oZ\gZ`fe\j [\ekif [\c k„id`$ ef [\ ki\j [ˆXj%$ 8^i„^l\ej\ Xc gifZ\jf cX [fZld\ekXZ`�e X[alekX%$ <e d„i`kf [\c aliX$ d\ekf i\e[`[f gfi gXik\ [\ cfj XZkfi\j Cl`j @jXˆXj >Xi�]Xcf >Xm`cXe\j p DXi`XeX [\ A\j’j J`eZ_`^lXef DXikˆe\q# jfYi\ cX `dgfj`Y`c`[X[ [\ [\k\id`eXi cX `e[`m`[lXc`[X[ p i\j`[\eZ`X [\ cfj [\dXe[X[fj :Xicfj 9\eaXdˆe I\`eX JXc^l\if p 9cXeZX CXjk\e`X I\`eX# Zˆk\j\ Zfe \c Zfek\e`[f [\ cX [\dXe$ [X p „jk\ Xlkf hl\ Xek\Z\[\ X cfj [\dXe[X[fj :Xicfj 9\eaXdˆe I\`eX JXc^l\if p 9cXeZX CXjk\e`X I\`eX \e jlj ZXc`[X[\j `emfZX[Xj# gfi cX gi\ejX \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`�e [\ \jkX Z`l$ [X[ [\ Hl`kf# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c%$ Ef j\ fi[\eX cX d\[`[X ZXlk\cXi jfc`Z`kX[X gfi ZlXekf ef j\ X[alekX \c Z\ik`]`ZX[f [\ ^iXm}d\e\j XZklXc`qX[f%$ K�d\j\ \e Zl\ekX cX ZlXekˆX p ZXj`cc\if al[`Z`Xc j\ŒXcX[f gfi cfj ZfdgXi\Z`\ek\j \e jlj ZXc`[X[\j `emfZX[Xj gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j%$ :ˆk\j\ p Efk`]ˆhl\j\% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q j`^l\ cX efk`]`ZXZ`�e Cf hl\ cc\mf X jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p% Gi\m`e`„e[fc\ [\ cX fYc`^XZ`�e hl\ k`\e\ [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j% :\ik`]`Zf% AlXeX :\mXccfj >%

IÂŒbe ^WXbWd ckY^e bei gk[ ^WXbWd cWb$ @EIx <H7D9?I9E :; ?IB7

J<:I<K8I@8 ?Xp ]`idX p j\ccf 8:&.0(+'&k] I ;<C <% ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% :@K8:@äE AL;@:@8C G8I81 D8LI@:@F A8M@<I J<M@CC8 898; p IFJ8I@F DFE:8PF K<CCF $<OKI8:KF$ AL@:@F <A<:LK@MF1 Eif% /-/$ )'') C%:?% 8:KFI81 98E:F ;<C 8LJKIF J%8% ;<D8E;8;FJ1 D8LI@:@F A8M@<I J<M@CC8 898; p IFJ8I@F DFE:8PF K<CCF F9A<KF1 :fYif [\ le ZfekiX$ kf [\ dlklf gfi cX ZXek`[X[ [\ LJ; )/%'''#'' [Â?cXi\j# `ek\i\j\j# ZfjkXj gifZ\jXc\j p _fefiXi`fj gif]\j`feXc\j KI8D@K<1 <a\Zlk`mf :L8EK@8% LJ; )/%'''#'' [Â?cXi\j :8J @ C C < IF A L ; @ : @ 8 C Eif1 )))) ;I% >FEQ8CF 9<E8C:8Q8I G8MFE GIFM@;<E:@81 ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# (' ;< DXiqf [\c )''*# cXj (,_,(%$ M`jkfj 1 8mfZf ZfefZ`d`\ekf [\ cX ZXljX gfi \c jfik\f [\ C\p%$ CX [\dXe[X hl\ Xek\Z\[\# \j ZcXiX# Zfd$ gc\kX # gi\Z`jX p Zldgc\ cfj i\hl`j`kfj [\k\id`eX[fj [\ cX C\p GifZ\jXc :`m`c p j`\e[f \c kˆklcf p cX fYc`^XZ`Â?e \a\Zlk`$ mfj# j\ cX XZ\gkX X „jk\ ki}$ d`k\% :ˆk\j\ Zfe cX [\dXe[X p \jkX gifm`[\eZ`X X DXli`Z`f AXm`\i J\m`ccX 8YX[ p IfjXi`f DfeZXpf K\ccf \e \c [fd`Z`c`f j\ÂŒXcX[f #gXiX hl\ [\ekif [\ ki\j [ˆXj [\ Z`kX[fj gX^l\e \c mXcfi [\dXe[X[f Xc 9XeZf [\c 8ljkif J%8% I\gi\j\ekX[f gfi \c GifZliX[fi Al[`Z`Xc ;i% :Xlgfc`Z}e FZ_fX E\`iX# f gifgfe^Xe cXj \oZ\gZ`fe\j [\ hl\ j\ Zi\p\i\e Xj`jk`[fj # YXaf gi\m\eZ`fe\j [\ j\e$

COMPAĂ‘Ă?A DE TRANSPORTE CAPELO TRANSCAPELO S.A. CONVOCATORIA SangolquĂ­, 20 de Marzo del 2011 De Conformidad con la Ley de Compaùías, el reglamento sobre juntas generales y el estatuto de la Compaùía, se convoca a los accionistas de la CompaĂąia de Transporte Capelo Transcapelo S.A., a la junta general extraordinaria que se llevarĂĄ a cabo el dĂ­a sĂĄbado 30 de Marzo del 2011 a las 10:00 am, en la sala de juntas de la Compaùía ubicada en la Av. Mariana de JesĂşs y Diego Janchi, Centro Comercial San Pedro oficinas Nro. 04-06, Parroquia San Pedro de Taboada, ciudad de SangolquĂ­, La junta deberĂĄ conocer y resolver los siguientes asuntos. 1.2.3.4.5.-

ConstataciĂłn de QuĂłrum ElecciĂłn y PosesiĂłn de Presidente ElecciĂłn y PosesiĂłn de Gerente General ElecciĂłn y PosesiĂłn de Comisario Principal y Comisario Suplente ElecciĂłn y PosesiĂłn de cinco vocales principales de directorio y dos vocales suplentes.

Nota.- En caso de representación a un accionista el poder debe estar debidamente legalizado y actualizado como estipula el reglamento de la Compaùía, se les recuerda que se aplicarån los artículos 56, 87, 92, del reglamento interno vigente. Le agradecemos por su concurrencia.

k\eZ`X% KÂ?d\j\ \e Zl\ekX cX ZlXekˆX gfi [\k\id`eX[X# cX ZXj`ccX Al[`Z`Xc Ef% )))) [\ cfj XYf^X[fj 1 ;fZkfi\j NcX[`d`i >XcXiqX C\Â?e# ;iX% <lcXc`X J}eZ_\q# p ;i% <[lXi[f :\[\ÂŒf D\e[fqX # cX Xlkfi`$ qXZ`Â?e gXiX hl\ jljZi`YXe cfj \jZi`kfj e\Z\jXi`fj X cX [\]\e$ jX% KÂ?d\j\ \e Zl\ekX cX f]\ikX [\ i\ZfefZ\i XYfefj gXiZ`X$ c\j c\^Xc\j%$ ;\aXe[f Zfg`X \e Xlkfj# gÂ?e^Xj\ \e Zljkf[`X [\ J\Zi\kXiˆX \c ZfekiXkf [\ dlklf p cX kXYcX [\ Xdfik`$ qXZ`Â?e%$%$ EFK@=@HL<J< P :Ă K<J<% = ;i% =\c`g\ >iXe[X 8^l`cXi$Al\q K`klcXi j`^l\ cX efk`]`ZXZ`Â?e ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# )) [\ FZklYi\ [\c )''.# cXj ('_*'%$ <e cf gi`eZ`gXc# \e d\i`kf [\ aliXd\ekf i\e[`[f gfi \c XZkfi jfYi\ cX `dgfj`$ Y`c`[X[ [\ [\k\id`eXi cX `e[`$ m`[lXc`[X[ p i\j`[\eZ`X [\ cfj [\dXe[X[fj# Zˆk\j\ Zfe le \okiXZkf [\c Zfek\e`[f [\ cX [\dXe[X# Xlkf `e`Z`Xc p gi\$ j\ek\ gifm`[\eZ`X X cfj [\dXe$ [X[fj DXli`Z`f AXm`\i J\m`ccX 8YX[ p IfjXi`f DfeZXpf K\ccf# gfi cX gi\ejX# \e le g\i`Â?[`$ Zf [\ Xdgc`X Z`iZlcXZ`Â?e [\ \jkX Z`l[X[ [\ Hl`kf p [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf gfi \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ Efk`]ˆhl\j\% = ;i% I\`eXc[f =cfi 8cmXiX[f$Al\q Jlgc\ek\ j`^l\ cX efk`]`ZXZ`Â?e % Cf hl\ gfe^f X jl ZfefZ`d`\ekf# gXiX cfj ]`e\j [\ c\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc# gXiX jlj efk`]`ZXZ`fe\j gfjk\i`f$ i\j%$ :\ik`]`Zf% JiX% AlXeX :\mXccfj >% J<:I<K8I@8 ?Xp ]`idX p j\ccf 8:&.0(,-&k] I% ;<C <% ALQ>8;F ;<:@DF J<GK@DF ;< CF :@M@C ;< G@:?@E:?8

CONVOCATORIA COOPERATIVA VIVIENDA SERVIDORES DEL IESS La Cooperativa de Vivienda Servidores del IESS, convoca a los socios a la Asamblea General Extraordinaria que se efectuarĂĄ el sĂĄbado 30 de abril del 2011, a las 12H00, en la Casa Comunal, ubicada en los terrenos de la Cooperativa. Se tratarĂĄ el siguiente Orden del DĂ­a: 1. 2. 3. 4. 5. 6. 7.

ConstataciĂłn del quĂłrum e instalaciĂłn de la Asamblea Lectura y aprobaciĂłn del Acta Anterior Informe de Gestiones realizadas por Presidencia Informe de Gestiones realizadas por Gerencia AprobaciĂłn del Plan de Trabajo y Presupuesto aĂąo 2011 DefiniciĂłn de fecha mĂĄxima para el pago de valores para construcciĂłn de bordillos etapa B AnĂĄlisis y aprobaciĂłn de procedimientos jurĂ­dicos de la Cooperativa

NOTA.- De no existir el quórum reglamentario a la hora citada, la sesión se iniciarå una hora despuÊs con el número de socios asistentes. Las resoluciones que se tomen, tendrån el caråcter de obligatorio para todos los socios. De conformidad con el Art. 26 del Reglamento de la Ley de Cooperativas, socio que no pueda asistir, podrå delegar a otro por escrito su representación. Ningún socio podrå representar a mås de un cooperado. EL SOCIO CALIFICADO DEBERà PRESENTAR CÉDULA PARA INGRESO. Socio que no asista, se impondrå la multa de veinte (20.00) dólares americanos.

Atentamente;

Atentamente,

Sr. IvĂĄn DĂ­az GualotuĂąa GERENTE GENERAL

Sra. Ă ngela ProaĂąo V. PRESIDENTA AR/82642/cc

:@K8:@äE AL;@:@8C 8 cfj j\ÂŒfi\j D8IK?8 :<:@C@8 =CFI<J P A8@D< ><I8I;F :L<M8 =CFI<J# j\ c\ _XZ\ jXY\i hl\ \e \jkX Al[`ZXkliX j\ c\ _X gifgl\jkf al`Z`f <a\Zlk`mf \e jl ZfekiX \e cfj j`^l`\ek\j k„id`efj1 8:KF I8 1 8 E ; I < 8 D 8 I > 8 I @ K8 :8 ; < E 8 >FD<Q ;<D8E;8;FJ1 D8IK?8 :<:@C@8 =CFI<J P A8@D< ><I8I;F :L<M8 =CFI<J AL@:@F1 <a\Zlk`mf Eif% -0/$ )'('$A%A% 8ikˆZlcfj +(* p +(, [\c :f[`^f [\ GifZ\[`d`\ekf :`m`c% :L8EK@81 El\m\ D`c [Â?cXi\j Xd\i`ZXefj% KI8D@K<1 <a\Zlk`mf 89F>8;8 ;<=<EJFI81 ;fZkfiX 8c\aXe[iX D`iXe[X <% GIFM@;<E:@81 ALQ>8;F ;<:@DF J<GK@DF ;< CF :@M@C ;< G@:?@E:?8%$ JXe^fchlˆ X )*# [\ DXiqf [\c )'((% 8 cXj '0_*'%$ M@JKFJ2 CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX# Zfdgc\kX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX XZ\gkX Xc ki}d`k\ i\jg\Zk`mf# \e al`Z`f <a\Zlk`mf% <e Zfej\Zl\eZ`X j\ [`jgfe\ hl\ cfj [\dXe[X[fj j\ÂŒfi\j D8IK?8 :<:@C@8 =CFI<J P A8@D< ><I8I;F :L<M8 =CFI<J# \e ZXc`[X[ [\ [\l[fi jfc`[Xi`f# \e \c k„id`ef [\ ki\j [ˆXj ZldgcXe Zfe cX fYc`^XZ`Â?e [\dXe[X[X f gifgfe^Xe \oZ\gZ`fe\j \e `^lXc k„id`ef% 8k\ekf Xc aliX$ d\ekf i\e[`[f gfi cX gXik\ XZkfiX# Zˆk\j\ X cfj [\dXe$ [X[fj j\ÂŒfi\j D8IK?8 :<:@C@8 =CFI<J P A8@D< ><I8I;F :L<M8 =CFI<J# [\ Zfe]fid`[X[ Zfe cf hl\ [`jgfe\ \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZl$ cXZ`Â?e \e cX Z`l[X[ [\ Hl`kf% 8^i„^l\j\ cfj [fZld\ekfj hl\ j\ XZfdgXÂŒXe% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc Eif% (/*% EFK@=@HL<J<% =[f ;i% Cl`j <[lXi[f KX`g\ >% AL<Q <E:8I>8;F Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc \e \jkX Z`l[X[ [\ J8E>FCHLĂ # gXiX jlj gfjk\i`fi\j efk`]`ZX$ Z`fe\j% :\ik`]`Zf% ;i% =\ieXe[f >iXeaX CXeXj J<:I<K8I@F ALQ>8;F (.df ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf

AR/82646/cc

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? 8:&.//0(&k]

FI;@E8I@FJ I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 81 AFJ< I@:8I;F# :8ICFJ M@:<EK<# >CFI@8 :8ID<E# D8I@8 ;< CFLI;<J >L<M8I8 <I8QF P GI<JLEKFJ P ;<J:FEF:@;FJ ?<I<;<IFJ ;<C J<zFI C<FE@;8J :8II<I8 <JG8z8 8:KFI1 A8@D< IF9<IKF LC:L8E>F :8KL:L8D98 P IFJ8 :<C@E8 DFI<EF D8@C8 ;<D8E;8;FJ1 D<C98 9<KKP C<E@J 9<E@K<Q# AFI>< N8J?@E>KF# AFJ< I@:8I;F# :8ICFJ M@:<EK<# >CFI@8 :8ID<E# D8I@8 ;< CFLI;<J >L<M8I8 <I8QF P GI<JLEKFJ P ;<J:FEF:@;FJ ?<I<;<IFJ ;<C J<zFI C<FE@;8J :8II<I8 <JG8z8 AL@:@F FI;@E8I@F ;< G8<; % (*'+$)'('$?%>% :L8EKĂ 81 @E;<K<ID@E8;8 ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# al\m\j *' [\ [`Z`\dYi\ [\c )'('# cXj (+_'*% M@JKFJ1 CX [\dXe[X gi\j\ekX[X \j ZcXiX# gi\Z`jX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cf XZ\gkX X ki}d`k\% <e Zfej\Zl\eZ`X# Zfe cX [\dXe$ [X gi\j\ekX[X p gifm`[\eZ`X hl\ Xek\Z\[\# ZÂ?iiXj\ kiXj$ cX[f X cfj [\dXe[X[fj gXiX hl\ Zfek\jk\e \e \c k„id`ef [\ hl`eZ\ [ˆXj# Zfe Xg\iZ`$ Y`d`\ekf [\ cXj gXik\j \e i\Y\c[ˆX% ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% (''' [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# `ejZiˆYXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\ \jk\ :XekÂ?e Hl`kf# gXiX cf ZlXc efk`]ˆhl\j\ Xc j\ÂŒfi I\^`jkiX[fi [\ cX Gifg`\[X[% :l„ek\j\ \e cX gi\j\ek\ ZXljX Zfe cfj j\ÂŒfi\j G\ijfe\ifj [\c @cljki\ Dle`Z`g`f [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ :@K<J< X cfj [\dXe[X[fj Afi^\ NXj_`e^kfe >l\mXiX <iXqf p D\cYX 9\kkp C\e`j 9\eˆk\q# \c gi`d\if [\ cfj efdYiX[fj gfi [\i\Z_f gif$ g`f p \e ZXc`[X[ [\ _\i\[\if [\ cX j\ÂŒfiX C`c`X DXiˆX G`\[X[ <iXqf [\ :Xii\iX# \e \c cl^Xi hl\ j\ `e[`ZX \e \c c`Y\cf [\ [\dXe[X%$ 8k\ekf aliXd\ekf i\e[`[f gfi cfj XZZ`feXek\j p [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# :Ă K<J< X cfj [\dXe[X[fj Afj„ I`ZXi[f# :Xicfj M`Z\ek\# >cfi`X :Xid\e# DXiˆX [\ Cfli[\j >l\mXiX <iXqf p X cfj gi\jlekfj p [\jZfefZ`[fj _\i\[\ifj [\ C\fe`[Xj :Xii\iX <jgXÂŒX# gfi cX gi\ejX \e lef [\ cfj g\i`Â?$ [`Zfj [\ dXpfi Z`iZlcXZ`Â?e [\ \jkX :`l[X[ [\ Hl`kf% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f# Xjˆ Zfdf cX Xlkfi`$ qXZ`Â?e Zfe]\i`[XqX jl XYf^X[f gXkifZ`eX[fi%$ 8^i„^l\j\ cfj [fZld\ekfj hl\ j\ XZfdgX$ ÂŒX%$ Efk`]ˆhl\j\%$ ;I% =89I@:@FF J<>FM@8 9<K8E:FLIK AL<Q <E:8I>8;F <o`jk\ ]`idX% Cf hl\ gfe^f \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf p :@KF gXiX cfj i\j$ g\Zk`mfj ]`e\j [\ c\p# gi\m`e`„e$ [fc\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX ]lkliXj efk`]`ZXZ`fe\j%$ ;i% AlXe ?% >XccXi[f H% J<:I<K8I@F ;<C ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 <o`jk\ ]`idX p j\ccf% 8%G%&+//0)&b%d%

Ć

I% [\c <%

ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@FE AL;@:@8C G8I8 J<z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zFI P ;L<z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l`kf# )/ [\ 8^fjkf [\c )''0# cXj (-_+)%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f \e cX i\jg\Zk`mX f]`$ Z`eX [\ Jfik\fj p \e ZXc`[X[ [\ Al\q Jlgc\ek\ d\[`Xek\ F]`Z`f Eif% '()$;;G$A8I [\c )+&'(&)'',%$ CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`$ jX p i\’e\ cfj i\hl`j`kfj c\^X$ c\j gfi cf hl\ j\ cX X[d`k\ X ki}d`k\ Fi[`eXi`f%$ <e d\i`kf [\c aliXd\ekf i\e[`[f gfi \c 8Zkfi# j\ [`jgfe\ Z`kXi gfi cX gi\ejX X cfj j\Œfi\j IfjX KXia\c`X 8YX[# Cl`j FjnXc[f ?\ie}e[\q P„g\q# Afj„ <]iXˆe >iXe[X 8clc`dX2 p# DXiˆX <c[X JXid`\ekf MXcm\i[\# \e lef [\ cfj g\i`�[`Zfj [\ Xdgc`X Z`iZlcXZ`�e eXZ`feXc# [\ Zfe]fid`[X[ X cf [`jgl\jkf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# p2 j\ [`j$ gfe\ Z`kXi Zfe \c Zfek\e`[f [\ cX [\dXe[X p \jk\ Xlkf \e \c cl^Xi j\ŒXcX[f Xc j\Œfi <[`jfe DXli`Z`f <eZXcX[X# \e jl ZXc`[X[ [\ Gi\j`[\ek\ [\c :fd`k„ Gifd\afiXj [\c 9Xii`f El\mfj ?fi`qfek\j [\c Jli# X ]`e [\ hl\ [\ekif [\c k„id`ef c\^Xc [\ hl`eZ\ [ˆXj Zfek\jk\ gifgfe`\e[f kf[Xj p ZX[X leX [\ cXj \oZ\gZ`fe\j [`cXkfi`Xj p g\i\ekfi`Xj [\ cXj hl\ j\ Zi\X Xj`jk`[f%$ :l„ek\j\ \e cX gi\j\ek\ ZXljX Zfe cfj G\ijfe\ifj Dle`Z`gXc\j [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf# X hl`\e\j j\ cfj Z`kX$ iX \e jlj i\jg\Zk`mXj f]`Z`$ eXj%$ ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% (''' [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c `ejZiˆYXj\ cX gi\j\ek\ [\dXe[X \e \c I\^`jkif [\

Ĺ? Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

ć

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

cX Gifg`\[X[ [\ \jk\ ZXekÂ?e Hl`kf%$ 8^i„^l\ej\ X cfj Xlkfj cfj [fZld\ekfj X[alekfj%$ KÂ?d\j\ \e Zl\ekX cX ZlXekˆX p \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f gfi \c 8Zkfi gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ :@K<J< P EFK@=@HL<J<% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q J`^l\ cX efk`]`ZXZ`Â?e ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# *( [\ DXiqf [\c )'('# cXj ((_,+%$ 8^i„^l\ej\ Xc gif$ Z\jf cfj \jZi`kfj gi\Z\[\ek\j%$ 8k\ekX cX g\k`Z`Â?e hl\ Xek\Z\$ [\ j\ XZcXiX \c 8lkf [`ZkX[f Zfe ]\Z_X )/ [\ 8^fjkf [\c XÂŒf \e Zlijf# \e \c j\ek`[f [\ hl\ gfi le \iifi `emfclekXi`f j\ _XZ\ ZfejkXi hl\ j\ Z`k\ X cX ;\dXe[X[X IfjX KXi^\c`X 8YX[# ZlXekf cf Zfii\Zkf \j hl\ j\ Z`k\ X cX ;\dXe[X[X IfjX KXi^\c`X FZ_fX 8YX[# \e cf [\d}j kf[f mX `^lXc# [\Y`\e$ [f \c 8Zkfi \jkXi X cf [`jgl\jkf \e Xlkf `e`Z`Xc%$ Efk`]ˆhl\j\% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q j`^l\ cX efk`]`ZXZ`Â?e Cf hl\ cc\mf X jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p% Gi\m`e`\e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\e [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j% :\ik`]`Zf% AlXeX :\mXccfj >% J<:I<K8I@8 ?Xp ]`idX p j\ccf 8:&.//0,&k] ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% :@K8:@FE AL;@:@8C 81 N8 J ? @ E > KF E I < E < <J:F98I A8I8D@CCF# ;FCFI<J D8>;8C<E8 J@CM8 M@CC8M@:<E:@F P DPI@8D :FE:<G:@FE J@CM8 M@CC8M@:<E:@F% <OKI8:KF 8:KFI1 @EE8 D@B?8@CFME8 GILK 98C8QFEFM8% ; < D 8 E ; 8 ; F J 1 N8 J ? @ E > KF E I < E < <J:F98I A8I8D@CCF# ;FCFI<J D8>;8C<E8 J@CM8 M@CC8M@:<E:@F P DPI@8D :FE:<G:@FE J@CM8 M@CC8M@:<E:@F% AL@:@F% FI;@E8I@F% :8LJ8 Ef% ((/0$)''0 ;:% AL@:@F1 FI;@E8I@F% F9A<KF :F9IF ;< C<KI8 ;< :8D9@F% :L8EK@81 LJ;% (*%'''#ff% GIFM@;<E:@81 ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# (* [\ FZklYi\ [\c )''0# cXj '0_)*%$ M@JKFJ1$ 8^i„^l\j\ X cfj Xlkfj \c \jZi`kf hl\ Xek\Z\$ [\%$ <e cf gi`eZ`gXc# cX [\dXe$ [X hl\ Xek\Z\[\ \j ZcXiX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ ]fidX gi\m`jkfj gfi cX C\p% <e Zfej\Zl\eZ`X# j\ [X \c ki}d`$ k\ fi[`eXi`f jfc`Z`kX[f# gXiX cf ZlXc Zˆk\j\ Zfe cX [\dXe[X p \jkX gifm`[\eZ`X X cfj [\dXe$ [X[fj j\ÂŒfi\j1 N8J?@E>KFE I<E< <J:F98I A8I8D@CCF# ;FCFI<J D8>;8C<E8 J@CM8 M@CC8M@:<E:@F P DPI@8D :FE:<G:@äE J@CM8 M@CC8M@:<E:@F# X ]`e [\ hl\ \e \c k„id`ef [\ hl`eZ\ [ˆXj [\[lqZXe cXj \oZ\gZ`fe\j [`cXkfi`Xj p g\i\ekfi`Xj [\ cXj hl\ j\ Zi\Xe Xj`jk`[fj%$ :ˆk\j\ X cfj [\dXe[X[fj \e cfj cl^Xi\j `e[`ZX[fj%$ KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f%$ Efk`]ˆhl\j\%$ ] ;i% =XYi`Z`f J\^fm`X 9\kXeZflik# Al\q Jlgc\ek\% ALQ>8;F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8% Æ Hl`kf# dXik\j + [\ dXpf [\c )'('# cXj '0_(/%$ 8k\ekf \c aliXd\ekf i\e[`[f gfi \c XZkfi# [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% /) [\c :ÂŽ[`^f [\ GifZ\[`d`\ekf :`m`c# Z‰k\j\ X cfj [\dXe[X$

[fj j\ÂŒfi\j NXj_`e^kfe I\eÂ… <jZfYXi AXiXd`ccf# ;fcfi\j DX^[Xc\eX J`cmX M`ccXm`Z\eZ`f p Dpi`Xd :feZ\gZ`ÂŽe J`cmX M`ccXm`Z\eZ`f# gfi cX gi\ejX# \jkf \j \e lef [\ cfj g\i`ÂŽ[`$ Zfj [\ dXpfi Z`iZlcXZ`ÂŽe hl\ j\ \[`kX \e \jkX Z`l[X[ [\ Hl`kf%$ Efk`]‰hl\j\%$ ;I% 8C=I<;F >I@A8CM8 DLzFQ% AL<Q% Cf hl\ gfe^f \e ZfefZ`d`\e$ kf Xc glYc`Zf \e ^\e\iXc gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe$ [`\ek\j% ;i% GXYcf Kfif :Xii`ccf J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.//00&k] I% [\c <% ALQ>8;F M@>yJ@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 AFJ< 8EKFE@F GL<EK< D8C<J P D8IĂ 8 C<FEFI 8:Lz8 98IFA8 AL@:@F FI;@E8I@F GI<J:I@G:@äE 8;HL@J@K@M8 < O K I8F I ; @ E 8 I @ 8 ; < ;FD@E@F Ef ((..$)''0$:%> 8:KFI%$ DXiZf 9\e`^ef Gl\ek\ >feq}c\q ;<D8E;8;FJ%$ Afj„ 8ekfe`f Gl\ek\ DXc\j p DXiˆX C\fefi 8ZlÂŒX 9XifaX F9A<KF1 FYk\e\i cX Gi\jZi`gZ`Â?e [\ 9`\e% =LE;8D<EKF C<>8C%$ 8ikj% )*0)# )+('# )+(( [\ cX :f[`]`ZXZ`Â?e [\c :Â?[`^f :`m`c M`^\ek\% :L8EKĂ 81 @e[\k\id`eX[X ;FD@:@C@F C<>8C1 (*.+ ;i% D`^l\c PXe[Â’e 8LKF ;< :8C@=@:8:@äE%$ ALQ>8;F M @ > y J @ D F GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ HL@KF# )0 [\ J\gk`\dYi\ [\c )''0# cXj ((_)(%$ M@JKFJ%$ Gfi ZlXekf j\ _X [X[f Zldgc`d`\ekf X cf [`j$ gl\jkf \e gifm`[\eZ`X `e`Z`Xc# X cX [\dXe[X j\ cX gifZ\[\ X ZXc`]`ZXi Zfdf ZcXiX# gi\Z`jX p hl\ i\Â’e\ cfj [\d}j i\hl`$

Ĺ?

j`kfj [\ c\p# gfi cf hl\ j\ cX XZ\gkX X ki}d`k\ Fi[`eXi`f% :fej\Zl\ek\d\ek\# cfj [\dXe[X[fj Afj„ 8ekfe`f Gl\ek\ DXc\j p DXiˆX C\fefi 8ZlŒX 9fiaX \e \c k„id`ef [\ hl`eZ\ [ˆXj# cl\^f [\ cX ’ck`$ dX Z`kXZ`�e# gifgfe^Xe kf[Xj p ZX[X leX [\ cXj \oZ\gZ`fe\j hl\ j\ Zi\p\iXe Xj`jk`[fj%$ ;\ Zfe]fid`[X[ Zfe \c 8ik% (''' [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# cX [\dXe[X `ejZiˆYXj\ \e \c I\^`jkif [\ cX Gifg`\[X[ [\c ZXek�e%$ <e d„i`kf Xc aliXd\e$ kf p X]`idXZ`�e [\ hl\ c\j \j `dgfj`Yc\ [\k\id`eXi cX `e[`$ m`[lXc`[X[ f i\j`[\eZ`X [\ cfj [\dXe[X[fj# Zfe ]le[Xd\ekf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# j\ [`jgf$ e\ hl\# X Afj„ 8ekfe`f Gl\ek\ DXc\j p DXiˆX C\fefi 8ZlŒX 9fiaX# j\ cfj Z`k\ X kiXm„j [\ cX gi\ejX gfi lef [\ cfj g\i`�$ [`Zfj [\ dXpfi Z`iZlcXZ`�e eXZ`feXc [\ cfj hl\ j\ \[`kXe \e \jk\ ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ :l„ek\j\ Zfe cfj i\jg\Zk`mfj g\ijfe\ifj [\c @cljki\ Dle`Z`g`f [\c ;`jki`kf D\kifgfc`kXef [\ Hl`kf%$ K„e^Xj\ \e Zl\ekX \c ZXj`$ cc\if al[`Z`Xc j\ŒXcX[f gfi \c XZkfi# cX [\j`^eXZ`�e [\ jl [\]\ejfi p cX ]XZlckX[ hl\ c\ ZfeZ\[\# gXiX hl\ jljZi`YX ZlXekf \jZi`kf j\X e\Z\jXi`f# [\ekif [\ cX gi\j\ek\ ZXljX# \e [\]\ejX [\ jlj `ek\i\j\j%$ 8^i„^l\j\ cX [fZld\ekXZ`�e hl\ j\ XZfdgXŒX%$ K„e^Xj\ \e Zl\ekX hl\ j\ i\]fidX cX [\dXe[X \e \c j\ek`[f [\ hl\ \c efdYi\ [\c XZkfi \j D8I:F 9<E@>EF >FEQ8C<Q GL<EK< p ef DXiZf 9\e`^ef Gl\ek\ >feq}c\q Zfdf j\ c\ _`qf ZfejkXi \e cX [\dXe[X% :ˆk\j\ p Efk`]ˆhl\j\%$ ;I% IL9<E >@C<I :<;<zF% AL<Q C\j Zfdle`Z� X Ljk\[\j p C<J :@KF gi\m`e`„e[fc\j [\ cX fYc`$ ^XZ`�e hl\ k`\e\ cfj [\dXe$ [X[fj [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc# gXiX jlj gfjk\i`fi\j efk`]`ZXZ`fe\j%$ C@:% >L@;F <JG@EFQ8 <% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0(*,&k]

I<D8K<J ALQ>8;F J<OKF ;< CF :@M@C ;< G@:?@E:?8 8M@JF ;< I<D8K<

IÂŒbe ^Wo Zei feZ[h[i [d [b ckdZe0 bW fbkcW o bW [ifWZW$ D7FEB;âD 8ED7F7HJ;

J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf \e ^\e\iXc hl\ \e cX J\Zi\kXiˆX [\ \jkX Al[`ZXkliX lY`ZX[X \e \c GXcXZ`f [\ Aljk`Z`X [\ Hl`kf 8m% J\`j [\ ;`Z`\dYi\ p ?\idXefj GXqd`ÂŒf# \ekiXe[f gfi cX Xm\$ e`[X J\`j [\ ;`Z`\dYi\# Gi`d\i G`jf# Alq^X[fj :figfiXk`mfj# f]`Z`eX *'-# \c [ˆX (. [\ dXpf [\c XÂŒf )'(( [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj j\ i\Xc`qXi} \c i\dXk\ [\c ,' [\ cfj [\i\Z_fj p XZZ`fe\j ]`eZX[fj \e \c j`^l`\ek\ 9`\e @edl\Yc\ ZlpXj ZXiXZk\iˆjk`ZXj j\ [\kXccXe X Zfek`elXZ`Â?e% J\ kiXkX [\ leX ZXjX j`^eX[X Zfe \c eld\if +, \e cX dXeqX$ eX :# [\c :fealekf _XY`kXZ`f$ eXc JXe J\YXjk`}e [\ :Xc[\iÂ?e GXiifhl`X :Xc[\iÂ?e :XekÂ?e Hl`kf Gifm`eZ`X [\ G`Z_`eZ_X# Zlpfj c`e[\ifj ^\e\iXc\j# p \jg\Zˆ]`Zfj j\ [\kXccXe X Zfe$ k`elXZ`Â?e1 C@E;<IFJ ><E<I8C<J Efik\1 Gifg`\[X[ [\ D`^l\c JXdl\qX# :c\c`f Jl}i\q 8ekfe`f JXdl\qX Jli1 Gifg`\[X[ [\ Lcg`Xef 9\Z\iiX <jk\1 :fe gifg`\[X[ [\ >\iXi[f >lXi[\iXj p Lcg`Xef 9\Z\iiX% F\jk\1 Gifg`\[X[ [\ 8e[i„j PXaXd`e% C@E;<IFJ :8J8 Ăˆ: +,É$ Efik\1 8cˆZlfkX m\e[`Yc\# ZXjX ZlXkif# \e ,#,' d% Jli1 8cˆZlfkX ljf \oZclj`mf ZXjX +,# \e ,#,' d% <jk\1 8cˆZlfkX m\e[`Yc\ ZXjX ++# \e /#., d% F\jk\1 8cˆZlfkX m\e[`Yc\# ZXjX +-# \e /#., d% 8ii`YX1 :`\cf# \e +/#(), d)% 8YXaf1 Jl\cf# \e +/#(), d) 8cˆZlfkX GXiZ`Xc1 '#)'('** Jlg\i]`Z`\1 +/#() d)% 8i\X [\ :fejkilZZ`Â?e1 -*#/'' d)%$ C@E;<IFJ A8I;@E =IFEK8C ;< LJF <O:CLJ@MF Efik\1 8cˆZlfkX m\e[`Yc\# ZXjX +,# \e ,#,' d Jli1 :Xcc\ Lef# \e ,#,' d%

CONVOCATORIA A Junta General Extraordinaria de Accionistas de la Compaùía OMNIBUS BB TRANSPORTES S.A. De conformidad con la Ley de Compaùías, el Reglamento sobre Juntas Generales y el Estatuto de la Compaùía, se convoca a los Accionistas y Comisario de OMNIBUS BB TRANSPORTES S.A., a la Junta General Extraordinaria que se llevarå a cabo el día martes 10 de mayo de 2011, a las 15h00, en la sala de sesiones de la Compaùía ubicada en la calle Enrique Guerrero Portilla Oe1-34 y Av. Galo Plaza Lasso, sector CarcelÊn de esta ciudad de Quito D.M. La Junta deberå conocer y resolver sobre el siguiente asunto: 1. Designación de perito o peritos independientes quienes realizarån el avalúo de los activos e informe respectivo, según las disposiciones emitidas por la Superintendencia de Compaùías relativas a la adopción de las NIIF, delegación y demås asuntos relacionados. De manera especial e individualmente, se convoca al seùor lvån López Castro, Comisario Principal de la Compaùía. Les agradecemos por su concurrencia. Quito DM., 20 de abril de 2011

<jk\1 8cˆZlfkX ljf \oZclj`mf# ZXjX ++# \e *#'' d% F\jk\1 8cˆZlfkX ljf \oZclj`mf# ZXjX +-# \e *#'' d 8ii`YX1 :`\cf# \e (-#,'' ie) 8YXaf1 Jl\cf# \e (-#,'' d) 8c`ZlfkX GXiZ`Xc1 '#('+// Jlg\i]`Z`\1 (-#,'' d) 8cˆZlfkX KfkXc1 '#+('/'. )% ;\c i\ZfefZ`d`\ekf Xc `edl\Yc\# j\ gl[f ZfejkXkXi hl\ \jk\ [`jgfe\ [\ le gXk`f gfjk\i`fi# Zfe g`jfj [\ Z\d\e$ kf# cl^Xi \e \c hl\ j\ \eZl\ekiX leX cXmXe[\iˆX p j`im\ [\ k\e$ [\[\if [\ ifgX2 cX ZXjX \j [\ [fj gcXekXj# jl ZfejkilZZ`�e \j [\ _fid`^�e# Zfe gXi\[\j [\ Ycfhl\ \eclZ`[Xj p Z_X]X$ [Xj Xc `^lXc hl\ cfj kldYX[fj1 Zfe cfjX [\ \eki\g`jf p [\ ZlY`\ikX# gl\ikXj [\ dX[\iX# m\ekXeXj [\ Xcld`e`f p m`[i`f# Zfe cX j`^l`\ek\ [`jki`YlZ`�e% GcXekX YXaX%$ JXcX Zfd\[fi Zfe g`jfj [\ kXYc�e2 d\[`f YXŒf jfZ`Xc# Zfe g`jfj i\m\j$ k`[fj [\ Z\i}d`ZX# [fj g`\qXj jXe`kXi`Xj YcXeZXj2 ZfZ`eX# Zfe g`jfj [\ Z\i}d`ZX p d\j�e [\ _fid`^�e i\m\jk`[f [\ Z\i}d`$ ZX# dl\Yc\j [\ dX[\iX Xckfj GcXekX XckX% ?Xcc p ki\j [fid`$ kfi`fj Zfe g`jfj [\ kXg`qfe p le YXŒf ]Xd`c`Xi# Zfe g`jfj p [lZ_X i\m\jk`[Xj [\ Z\i}d`$ ZX# [fj g`\qXj jXe`kXi`Xj2 \e cX gXik\ ]ifekXc p \ekiX[X [\ cX ZXjX# j\ \eZl\ekiX le aXi[ˆe [\ ljf \oZclj`mf [\ cX ZXjX# <e ^\e\iXc \c dXek\e`d`\ekf p \jkX[f [\ Zfej\imXZ`�e \j i\^lcXi% <c `edl\Yc\ Zl\ekX Zfe cfj j\im`Z`fj [\ \e\i^ˆX \c„Zki`ZX# X^lX gfkXYc\# XcZXekXi`ccX[f#

k\c„]fef p d}j j\im`Z`fj Zfdf jfe ZXcc\j X[fhl`eX[Xj# Yfi[`$ ccfj p j\im`Z`fj [\ ^lXi[`XeˆX# \c Zfealekf _XY`kXZ`feXc \j Z\iiX[f% *% GXiX cX mXcfiXZ`�e j\ i\Xc`$ qXife \eZl\jkXj \e \c j\Zkfi# kfdXe[f i\]\i\eZ`Xj [\ ZXjXj hl\ j\ \eZl\ekiXe X cX m\ekX p [\ cXj ’ck`dXj m\ekXj i\Xc`$ qX[Xj# [Xkfj hl\ \jkXYc\Z\e hl\ \c gi\Z`f [\c `edl\Yc\ Zfe cXj ZXiXZk\iˆjk`ZXj [\jZi`kXj `eZcl`[f jlj XcˆZlfkXj \j [\ ki\`ekX d`c ;�cXi\j 8d\i`ZXefj LJ; *'%'''#'' 8M8CLF KFK8C LJ; *'%'''#'' <c ,' [\ cfj [\i\Z_fj p XZZ`fe\j XjZ`\e[\ X (,%''' [�cXi\j% <e \c [ˆX p _fiX j\ŒXcX[fj gXiX \c i\dXk\ j\ i\Z`Y`i}e f]\ikXj hl\ ZlYiXe gfi cf d\efj cX d`kX[ [\c XmXc’f giXZk`ZX[f# X[alekXe[f \c (' [\ cf f]i\$ Z`[f \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X efdYi\ [\ \jkX al[`ZXkliX# gfi kiXkXij\ [\c j\^le[f j\ŒXcXd`\ekf% ;I% <;N@E :<M8CCFJ J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0)('&k] ALQ>8;F HL@EKF ;< CF :@M@C 8M@JF ;< I<D8K< J\ gfe\ \e ZfefZ`d`\ekf Xc g’Yc`Zf hl\ \c [ˆX Z`eZf [\ dXpf [\c )%'((# [\j[\ cXj ZXkfiZ\ _fiXj _XjkX cXj [`\q p fZ_f _fiXj# j\ cc\mXi} X ZXYf \e cX JXcX [\ 8l[`\eZ`Xj [\c Alq^X[f Hl`ekf [\ cf :`m`c [\ G`Z_`eZ_X# \c i\dXk\ [\ cX ZXjX p k\ii\ef# j`klX[X \e cX Gifm`eZ`X [\ G`Z_`eZ_X# :Xek�e Hl`kf# GXiifhl`X [\ :_`ccf^Xccf# LiYXe`qXZ`�e JXekX I`kX# ZlpXj ZXiXZk\iˆj$ k`ZX p [\kXcc\j j\ [\jZi`Y\e X Zfek`elXZ`�e1 <c `edl\Yc\ hl\ j\ \eZl\e$ kiX \dYXi^X[f# j\ `[\ek`]`ZX Zfe \c E— (-'$)# lY`ZX[f \e cX :Xcc\ 8gl\cX J)-$*0) p :Xcc\

AC/79187/tf

i\j p \c Zcfj\k jfe [\ dX[\iX p gXe\cXj# cX gl\ikX [\ `e^i\jf Xc [\gXikXd\ekf \j [\ dX[\$ iX Zfe m`[i`f p \jkilZkliX [\ dX[\iX% 8c j\^le[f g`jf j\ `e^i\jX gfi leXj \jZXc\iXj# ]l\iX [\ cX efidX _Xp leX k\iiXqX jfYi\ \c [fid`kfi`f dXjk\i p \c `e^i\$ jf X \jk\ [\gXikXd\ekf \j gfi leX gl\ikX [\ dX[\iX# k`\e\ _ld\[X[ \e \c Z`\cf iXjf# k`\e\ ki\j [fid`kfi`fj# jXcX# YXÂŒf hl\ k`\e\ Z\i}d`ZX kXekf \e \c g`jf Zfdf \e cXj gXi\[\j# cfj g`jfj jfe [\ [l\cX [\ dX[\iX% Kf[X cX ZfejkilZZ`Â?e \j [\ \jkilZkliX gleklXc [\ _fid`^Â?e XidX[f# Zfe cfjX [\ \eki\g`jf# cXj m\ekXeXj jfe [\ _`\iif Zfe m`[i`f p gifk\ZZ`Â?e [\ _`\iif \e cXj [fj gcXekXj% CX ZfejkilZZ`Â?e \jk} \e Zfe$ [`Z`fe\j i\^lcXi\j [\ dXek\$ e`d`\ekf# \o`jk\ _ld\[X[ \e cX gcXekX YXaX \e \c [fid`kfi`f dXjk\i p \e \c j\^le[f g`jf \e \c Z`\cf iXjf# cXj gXi\[\j jfe [\ Ycfhl\ \eclZ`[Xj p g`ekX[Xj# cX ]XZ_X[X fZZ`[\e$ kXc j\ \eZl\ekiX [\k\i`fiX[X# JÂ?cf \c Z\iiXd`\ekf ]ifekXc \j gifg`f# cfj fkifj g\ik\e\Z\e X cfj Zfc`e[Xek\j# cXj `ejkXcXZ`f$ e\j \c„Zki`ZXj p jXe`kXi`Xj jfe \dgfkiX[Xj% Gfi jl \jkX[f [\ Zfej\imXZ`Â?e# j\ mXcfiX Xjˆ1 ;\efd`eXZ`Â?e2 Ă?i\X d)2 MXcfi d)2 MXcfi KfkXc2 `%m%2 MXcfi I\j`[lXc K\ii\ef2 *)*#-'2 /'#''2 ),%///#''2 ),%///#''2 :fejkilZZ`Â?e ( ( ) # + ' 2 *''#''2 **%.)'#''2 -%.++#''2 )-%0.-#'' KfkXc2 ,)%/-+#'' 8M8CLF KFK8C LJ; ,)%/-+#'' JFE1 :@E:L<EK8 P ;FJ D@C F:?F:@<EKFJ J<J<EK8 P :L8KIF :FE ''&('' ;äC8I<J ;< CFJ <JK8;FJ LE@;FJ ;< 8DyI@:8% <c ,' \dYXi^X[f Zfii\jgfe$ [\ X )-%+*)#'' LJ; m\`ek\ p j\`j d`c ZlXkifZ`\ekfj ki\`ekX p [fj %

REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ‘IAS

REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ‘IAS

EXTRACTO

EXTRACTO

CONSTITUCION DE LA COMPAĂ‘Ă?A GALARZA OLEAS, CONSULTING CIA LTDA.

DE LA ESCRITURA PĂšBLICA DE REFORMA DE ESTATUTOS DE LA COMPAĂ‘Ă?A REDPATH ECUADOR CONSTRUCCIONES S.A.

La compaùía GALARZA OLEAS, CONSULTING CIA. LTDA. se constituyó por escritura pública otorgada ante el Notario SÊptimo del Distrito Metropolitano de Quito, el 06 de Abril de 2011, fue aprobada por la Superintendencia de Compaùías, mediante Resolución SC.IJ.DJC. Q.11.001703 de 18 de Abril de 2011.

Se comunica al público que la compaùía REDPATH ECUADOR CONSTRUCCIONES S.A., reformó sus estatutos por escritura pública otorgada ante el Notario Tercero del Distrito Metropolitano de Quito, el 21 de Marzo de 2011. Acto societario aprobado por la Superintendencia de Compaùías, mediante Resolución No. SC.IJ.DJC.Q.11.001711 de 18 de abril de 2011.

1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de PICHINCHA 2.- CAPITAL:Suscrito US$ 400,00 NĂşmero de Participaciones 400 Valor US$ 1,00

En virtud de la presente escritura pública la compaùía reforma el artículo Tres del Estatuto, referente al objeto social, al que agregan lo siguiente:

3.- OBJETO: El objeto de la compaùía es: UNO) LA PRESTACIĂ“N DE SERVICIOS DE CONSULTORĂ?A Y ASESORĂ?A INTEGRAL, ELABORACIĂ“N DE ESTUDIOS, DIAGNĂ“STICOS, INFORMES Y ASISTENCIA TÉCNICA....

“ARTICULO TRES. ... f) Importar y exportar todo tipo de bienes, entre estos maquinarias y equipos necesarios para el cabal cumplimiento de su objeto social....�

Quito, 18 de Abril de 2011.

Distrito Metropolitano de Quito, 18 de abril de 2011.

Dr. Oswaldo Noboa LeĂłn. DIRECTOR JURIDICO DE COMPAĂ‘IAS

OMNIBUS BB TRANSPORTES S.A. JEFFREY CADENA BEIER PRESIDENTE EJECUTIVO

Dfifdfif# X leX ZlX[iX [\c <jkX[`f [\c 8lZXj# gXiifhl`X :_`ccf^Xccf% <c `edl\Yc\ _X j`[f X[hl`i`[f gfi \c [\dXe[X[f p jl Z�e$ pl^\# j\^’e <jZi`kliX Z\c\$ YiX[X \c (( [\ efm`\dYi\ [\ (0/-# Xek\ \c EfkXi`f ;fZkfi E\cjfe >XcXiqX# \ `ejZi`kf \e \c I\^`jkif [\ cX Gifg`\[X[# \c / [\ [`Z`\dYi\ [\ (0/-%$ Cfj c`e[\ifj \jg\Zˆ]`Zfj [\c `edl\Yc\ E— (-'$)# jfe cfj j`^l`\ek\j1 EFIK<1 <e m\`ek\ p Z`eZf d\kifj# c`e[X Zfe cX gifg`\$ [X[ [\c j\Œfi 8cfdfkf% JLI1 <e m\`ek\ p ki\j Zfe ZlXi\ekX d\kifj# c`e[X Zfe cX gifg`\$ [X[ [\ cfj Z�epl^\j DXZˆXj I`m\iX% <JK<1 <e [`\Z`j„`j d\kifj# c`e[X Zfe cX ZXcc\ 8gl\cX% F<JK<1 <e [`\Z`j„`j Zfe m\`ek\ d\kifj# c`e[X Zfe cX gifg`\[X[ [\c j\Œfi 8ik\X^X% JLG<I=@:@<1 <e ki\jZ`\e$ kfj m\`ek\ p ki\j Zfe j\j\ekX d\kifj ZlX[iX[fj% <j le k\ii\ef [\ ]fidX `ii\^l$ cXi p kfgf^iX]ˆX gcXeX# j\ `e^i\$ jX gfi leX gl\ikX [\ _`\iif [\ XZZ\jf m\_`ZlcXi p g\XkfeXc# \c gXihl\X[\if \j [\ X[fhlˆe p j\ \eZl\ekiX Zfe Z„jg\[ \e cX gXik\ ]ifekXc# _Xp le aXi[ˆe X[fjX[f Xc c`e[\if Efik\ Zfe gcXekXj fieXd\ekXc\j# X[fjX$ [X X cfj c`e[\ifj Efik\$Jli j\ \eZl\ekiX leX ZfejkilZZ`�e [\ [fj gcXekXj# Zfe le [\gXikX$ d\ekf `e]\i`fi [\ /' d) p \jk} Zfdgl\jkf gfi leX jXcX Zfd\$ [fi# le [fid`kfi`f j`e Zcfj\k# le d\[`f YXŒf# leX ZfZ`eX Zfe Z\i}d`ZX \e cXj gXi\[\j# dl\$ Yc\j Xckfj p YXafj [\ ZfZ`eX# X le e`m\c "'#(/ [\ \jk\ e`m\c _Xp le [fid`kfi`f Zfe Zcfj\k p le e`m\c "'#(/ [\c [fid`kf$ i`f \jk} \c YXŒf Zfdgc\kf# cfj g`jfj [\ kf[f \c [\gXikXd\ekf jfe [\ Z\i}d`ZX \e [`]\i\ek\j Zfcfi\j# \c [fid`kfi`f gi`eZ`gXc k`\e\ dlZ_X _ld\[X[# [\ cX ZfZ`eX j\ jXc\ gfi leX gl\ikX [\ _`\iif X le g\hl\Œf gXk`f hl\ j\ \eZl\ekiX \e cX gXik\ gfjk\i`fi# cXj gl\ikXj `ek\i`f$

Dr. Oswaldo Noboa LeĂłn DIRECTOR JURĂ?DICO DE COMPAĂ‘Ă?AS AC/79188/tf

AC/79204/tf

CXj gfjkliXj [\j[\ Xhl\ccXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c XmXc’f# gfi kiXkXi$ j\ [\ gi`d\i j\ŒXcXd`\ekf# [\Y`\e[f XaljkXij\ \c (' [\ cX f]\ikX# \e [`e\if \e \]\Zk`$ mf f Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c Alq^X[f Zfe]fid\ X cX C\p% <c Y`\e j\ _XccX YXaf cX Zljkf$ [`X [\c ;\gfj`kXi`f Al[`Z`Xc ;i% =i\[[p :\[\Œf% Al`Z`f <a\Zlk`mf E— -0/$)'', CI% Cf gfe^f \e ZfefZ`d`\ekf gXiX ]`e\j [\ C\p% ;i% Cl`j Ife M`ccXm`Z\eZ`f J<:I<K8I@F < ?Xp ]`idX p j\ccf 8:&./.(.&k] 8M@JF ;< I<D8K< ALQ>8;F ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C HL< <C AL<M<J :@E:F ;< D8PF ;<C ;FJ D@C FE:< ;<J;< C8J (+?''# ?8JK8 C8J (/?''# <E C8 J<:I<K8I@8 ;< <JK8 AL;@:8KLI8# J< I<8C@Q8I8 ;<EKIF ;<C AL@:@F ;< <D98I>F P I<D8K< EIF% )'*$)'',$ JG <C I<D8K< ;<C :@E:L<EK8 GFI :@<EKF ;< ;<I<:?FJ P 8::@FE<J ;<C 9@<E @EDL<9C< HL< ?8 :FEK@EL8:@FE J< ;<K8CC8%$ :XjX p k\ii\ef j`klX[f \e cX gXiifhl`X <CFP 8C=8IF [\ \jk\ :Xek�e Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X lY`ZX[f \e cX ZXcc\ >feqXcf DXikˆe J0$<-$ ()' efd\eZcXkliX XZklXc p **( efd\eZcXkliX Xek\i`fi p ZXcc\ >lXcXZ\f# [\ekif [\ cfj C@E;<IFJ1 Efik\# \e ((d% ZXcc\ G’Yc`ZX2 JLI# \e ,#-'d Zfe gifg`\[X[ [\ E% 9XZ�e# \e gXik\ p \e fkiX \e .#''# gif$ g`\[X[ [\ E% ?\ii\iX2 <JK<# \e ),#)'d Zfe gifg`\[X[ [\ IX]X\c 8cY`ef \e gXik\ p \e fkiX \e ('%-'d Zfe gifg`\[X[ [\ E% 9XZ�e2 F<JK<# \e *,#0'd Zfe

gifg`\[X[ [\c j\Œfi >lXef p fkiX gXik`ZlcXi% Jlg\i]`Z`\ +*'d)# CX gifg`\[X[ k`\e\ leX ZfejkilZZ`�e [\ _fid`^�e XidX[f Zfe k\iiXqX XZZ\j`Yc\# cX d`jdX hl\ ZfejkX [\ ZlXkif ZlXikfj p le YXŒf# jlj g`jfj jfe [\ Z\i}d`ZX# m\ekXeXj [\ _`\iif# \jkX ZfejkilZZ`�e k`\e\ leX }i\X [\ +/#'' d)% <e cX gXik\ gfjk\i`fi _Xp leX ZfejkilZZ`�e [\ [fj g`jfj p \e ZX[X g`jf le [\gXikXd\ekf hl\ ZfejkX [\ [fj [fid`kfi`fj# jXcX Zfd\[fi ZfZ`eX YXŒf cfj g`jfj jfe [\ d\[`X [l\cX m\ekXeXj [\ _`\iif% <jkX Zfej$ kilZZ`�e k`\e\ leX }i\X [\ (-' d)# cXj ZfejkilZZ`fe\j k`\e\e `ejkXcXZ`fe\j \c„Zki`ZXj# jXe`$ kXi`Xj# _`[i}lc`ZXj% Cfj j\im`$ Z`fj hl\ k`\e\ \c j\Zkfi \j [\1 i\[ [\ \e\i^ˆX \c„Zki`ZX# i\[ [\ XcZXekXi`ccX[f# XcldYiX[f g’Yc`Zf# i\[ k\c\]�e`ZX# ZXcc\j [\ XZZ\jfj# XZ\iXj p Yfi[`ccfj% <c `edl\Yc\ j\ \eZl\ekiX \e leX qfeX liYXeX Zfejfc`[X[X i\j`[\eZ`Xc [\ ZcXj\ d\[`X# cX d`jdX hl\ j\ \eZl\ekiX \e Yl\e \jkX[f [\ Zfej\imXZ`�e% 8M8CLF ;<C @EDL<9C< \e \c Z`eZl\ekX gfi :`\ekf [\ cfj [\i\Z_fj p XZZ`fe\j \j [\ KI<@EK8 P LE D@C HL@E@<EKFJ J<K<EK8 P J<@J ;FC8I<J :FE :@E:L<EK8 :<EK8MFJ *(%,.-#,' # gfi kiXkXij\ [\ gi`d\i j\ŒXcX$ d`\ekf j\ XZ\gkXi}e gfjkliXj hl\ ZlYiXe gfi cf d\efj cXj [fj k\iZ\iXj gXik\j [\c XmX$ c’f [\Y`\e[f X[alekXij\ \c [`\q gfi Z`\ekf [\ jl f]\ikX \e [`e\if \e \]\Zk`mf f Z_\$ hl\ Z\ik`]`ZX[f X efdYi\ [\c Alq^X[f% EFK@=@HL<J<%$ = %$ ;I% :8ICFJ =<IE8E;<Q @;IFMF# AL<Q ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 CF HL< C C <MF 8 : F E F : @ D @ < E KF ; < C GL9C@:F <E ><E<I8C G8I8 CFJ =@E<J C<>8C<J :FEJ@>L@<EK<J%$ Hl`kf# ') [\c DXiqf [\c )'((%$ :\ik`]`Zf%$

REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ‘IAS

;I% =<IE8E;F E8I8EAF =8:KFJ J<:I<K8I@F ;<C ALQ>8;F ;<:@DF J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 ?Xp le j\ccf 8%8%&./-'0&gm

IÂŒbe \WbjW [b j_[cfe W gk_[d de iWX[ Wfhel[Y^Whbe$ =7IF7H @EL;BB7DEI

ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C HL< <C ;@8 M<@EK< P :@E:F ;< D8PF ;<C 8zF ;FJ D@C FE:<# ;<J;< C8J :8KFI:< 8 C8J ;@<:@F:?F ?FI8J# <E C8 J<:I<K8I@8 ;<C ALQ>8;F# J< CC<M8I8 8 <=<:KF <C I<D8K< ;<C @EDL<9C<# HL< 8 :FEK@EL8:@äE J< ;<K8CC8 AL@:@F <A<:LK@MF Æ C<KI8 ;< :8D9@F (*$)''* A=M$ I:F L9@:8:@äE <c k\ii\ef p ZfejkilZZ`Â?e j\ \eZl\ekiX lY`ZX[f \e cX Gifm`eZ`X [\ G`Z_`eZ_X# :XekÂ?e Hl`kf# GXiifhl`X 9\eXcZ}qXi# ZXcc\ :l\if p :X`Z\[f F\,$ (0/# \eki\ @jcX p DXikˆe [\ Lki\iXj% C@D@K<J P C@E;<I8:@FE<J GIF;L:KF ; < C C < M 8 E K 8 D @ < E K F GC8E@D<KI@:F I<8C@Q8;F <E J@KL Efik\1 (*#'' d% Zfe gifg`\$ [X[\j gXik`ZlcXi\j [\ mXi`fj gifg`\kXi`fj Jli1 (*#'' d% Zfe ZXcc\ :l\if p :X`Z\[f <jk\1 (.#'' d% Zfe gifg`\[X[ K`ijf 8e[iX[\ C\`mX# XZklXc efd\eZcXkliX Dle`Z`gXc F\,$ (/+ F\jk\1 (.#'' d% Zfe gifg`\$ [X[ [\ IlY„e J\iiXef# XZklXc efd\eZcXkliX Dle`Z`gXc F\,$ )() Jlg\i]`Z`\1 ))(#'' d)% :8I8:K<I@JK@:8J ;<C <EKFIEF <jk} \e \c j\Zkfi [\ cX >iXeaX# \e \c Z\ekif Efi$FZZ`[\ekXc [\ Hl`kf# k`\e\ g\e[`\ek\j gif$ eleZ`X[Xj# cXj mˆXj [\ Zfdl$

e`ZXZ`�e \e g\i]\Zkf \jkX[f k`\e\e mˆXj Xj]XckX[Xj# Zfe XZ\iXj Zfe XcldYiX[f g’Yc`$ Zf# clq \c„Zki`ZX# X^lX gfkX$ Yc\# XcZXekXi`ccX[f# k\c„]fef# kiXejgfik\ g’Yc`Zf# _fjg`kXc\j g’Yc`Zfj p gi`mX[fj# \jZl\cXj p Zfc\^`fj g’Yc`Zfj p gi`mX[fj# i\Zfc\ZZ`�e [\ YXjliX% :8I8:K<I@JK@:8J ;< C8 GIFG@<;8; <j le k\ii\ef [\ ]fidX i\^l$ cXi p kfgf^iX]ˆX `ii\^lcXi j\ _Xe i\Xc`qX[f gcXkX]fidXj \e [`]\i\ek\j e`m\c\j gXiX cX Zfej$ kilZZ`�e [\ cX m`m`\e[X% <c k`gf [\ fZlgXZ`�e \j Zfe le ]i\ek\# c`Yi\ [fe[\ j\ [\jXiifccXe cfj gXihl\X[\ifj p le g\hl\Œf aXi[ˆe# cl\^f leX \jkilZkliX gleklXc [\ _fid`^�e XidX$ [f Zfe cfjXj [\ \eki\g`jf p ZlY`\ikX [\ cfjX# X[fjX[X X cfj cX[fj <jk\ p F\jk\# \e \c gi`d\i g`jf Zfe [fj gfikfe\j [\ dX[\iX Zfe _`\iif hl\ jfe cXj gl\ikXj [\ cfj ^XiXa\j p hl\ X cX m\q cX leX \j gl\ikX [\ XZZ\jf X cX m`m`\e[X \jkfj gXi$ hl\X[\ifj p \c `e^i\jf cX leX gXik\ \jk} ZlY`\ikX Zfe [fdfj [\ XZiˆc`Zf jfYi\ \jkilZkliX d\k}c`ZX p \c fkif k`\e\ cfj\$ kX [\ ZlY`\ikX% <c `e^i\jf X cX m`m`\e[X \j X kiXm„j [\ le ZXd`ef Zfe g`jf [\ Z\i}d`ZX X le e`m\c " '#(/ j\ \eZl\ekiX cX \ekiX[X X cX m`m`\e[X hl\ \j gfi leX gl\ikX [\ dX[\$ iX Zfe m`[i`f p gifk\ZZ`�e [\ _`\iif# \e cX gcXekX YXaX \jkX \c }i\X jfZ`Xc# jXcX Zfd\[fi Zfe g`jfj [\ gXihl\k# ZfZ`eX p d\[`f YXŒf Zfe g`jfj [\ Z\i}$ d`ZX# \e \jkX gcXekX \jk} le PXZlj`# cXj gl\ikXj `ek\i`fi\j

Convocatoria a junta general ordinaria

Compaùía de Transportes Rumilomabeach S.A.

EXTRACTO CONSTITUCION DE LA COMPAĂ‘Ă?A COMPAĂ‘IA DE TRANSPORTE DE CARGA PESADA ESPIGUITAEXPRESS S.A. La compaùía COMPAĂ‘IA DE TRANSPORTE DE CARGA PESADA ESPIGUITAEXPRESS S.A. se constituyĂł por escritura pĂşblica otorgada ante el Notario PĂşblico del CantĂłn PEDRO MONCAYO, el 02 de Julio de 2010, fue aprobada por la Superintendencia de Compaùías, mediante ResoluciĂłn SC.IJ.DJC.Q.11.001584 de 08 de Abril de 2011. 1.- DOMICILIO: CantĂłn PEDRO MONCAYO, provincia de PICHINCHA. 2.- CAPITAL: Suscrito US$ 1.740,00 NĂşmero de Acciones 174 Valor US$ 10,00; Capital Autorizado: US$ 3.440,00

De conformidad con los estatutos de nuestra entidad y la ley de compaùías, convocase a junta general ordinaria a los seùores accionistas y de manera especial al seùor Víctor Guachamín y Juan Oyacato Comisarios para el día såbado 30 de abril del presente aùo a las 19:00 pm en el local de la sede social de la compaùía ubicada en la Parroquia de Guangopolo Barrio Rumiloma Calle AV. INTERVALLES Número 740 Intersección SECUNDARIA, para tratar el siguiente orden del día: 1.- Contastación del Quórum 2.- Lectura del Acta Anterior 3.- Informe de Presidente y el Gerente 4.- Conocimiento y Aprobación del Balance al 31 de diciembre 2010. 5.- Elección y Posesión de la Nueva Directiva. Guangopolo 21 de Abril del 2011.

3.- OBJETO: El objeto de la compaùía es: EXCLUSIVAMENTE AL TRANSPORTE TERRESTRE COMERCIAL, EN LA MODALIDAD DE CARGA PESADA A NIVEL NACIONAL, SUJETANDOSE A LAS DISPOSICIONES DE LA LEY ORGà NICA DEL TRANSPORTE TERRESTRE, TRà NSITO Y SEGURIDAD VIAL, SUS REGLAMENTOS Y LAS DISPOSICIONES QUE EMITAN LOS ORGANISMOS COMPETENTES EN ESTA MATERIA. Quito, 08 de Abril de 2011

ATENTAMENTE. Sr. VICENTE LEGĂ‘A PRESIDENTE CIA. RUMILOMABEACH S.A.

Sr. FRANCISCO CUJE GERENTE CIA. RUMILOMABEACH S.A. Nota: El Balance, comprobantes y anexos se encuentran a disposición de los seùores accionistas en las oficinas de la compaùía.

Dr. Oswaldo Noboa LeĂłn DIRECTOR JURIDICO DE COMPAĂ‘IAS AC/79196/tf

A.C./79182/pv

jfe [\ dX[\iX cXj m\ekXeXj jfe [\ Xcld`e`f Zfe m`[i`f \e cX gcXekX YXaX cXj m\ekXeXj k`\e\e gifk\ZZ`�e [\ _`\iif# \c XZZ\jf X cX j\^le[X gcXekX \j Zfe ^iX[Xj [\ kXg`q�e Xc `^lXc hl\ cfj [fid`kfi`fj hl\ jfe ki\j# le YXŒf Zfdgc\kf# cX k\iZ\iX gcXekX k`\e\ [fj _XY`$ kXZ`fe\j kXdY`„e _Xp YXŒf p g`\[iX [\ cXmXi p [X XZZ\jf X cX k\iiXqX% Kf[X cX ZXjX j\ \eZl\ekiX i\Z`„e g`ekX[X Xc dfd\ekf [\ cX m`j`kX g\i`Z`Xc \jkX Zfe dXek\e`d`\ekf# \e cfj ki\j e`m\c\j _Xp ),.#'' d) [\ ZfejkilZZ`�e% <jkX m`m`\e[X j\ \eZl\ekiX _XY`kX[X gfi cX j\ŒfiX 8c`Z`X Lki\iXj Zfe jl ]Xd`c`X cX ZlXc dXe`]`\jkX hl\ \j leX Xii\e[XkXi`X% 8M8CLF ;\efd`eXZ`�e2 Xi\X d)2 mXcfi d)2 mXcfi kfkXc2 `%m% mXcfi i\j`$ [lXc K\ii\ef2 ))(#''2 (-,#''2 *-%+-,#''2 2 *-%+-,#'' : f e jk i l ZZ ` � e 2 )),#' ' 2 *)'#''2 .)%'''#''2 .%)''#''2 -+%/''#'' M8CFI KFK8C1 ('(%)-,#'' ,' ;<I<:?FJ P 8::@FE<J ,'%-*)#,' JFE1 :@E:L<EK8 D@C J<@J:@<EKFJ KI<@EK8 P ;FJ ;FC8I<J :FE ,'&('' HL< :FII<JGFE;< 8C ,' ;< ;<I<:?FJ P 8::@FE<J% J\ XZ\gkXi}e gfjkliXj X gXi$ k`i [\ Xhl\ccXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c XmXc’f g\i`Z`Xc XgifYX[f# \e [`e\if f Z_\hl\ Z\ik`]`ZX[f X efdYi\ [\c Alq^X[f# gfi kiXkXij\ [\c gi`d\i j\ŒXcXd`\ekf% GXik`ZlcXi hl\ Zfdle`Zf gXiX cfj ]`e\j [\ C\p% 8k\ekXd\ek\# ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0(/'&k] ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 8M@JF ;< I<D8K< J\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf \e ^\e\iXc hl\ \c [ˆX cle\j el\m\ [\ dXpf [\c [fj d`c feZ\# X gXik`i [\ cXj ZXkfi$ Z\ _fiXj _XjkX cXj [`\Z`fZ_f _fiXj# \e cX J\Zi\kXiˆX [\ \jkX Al[`ZXkliX# k\e[i} cl^Xi \c i\dXk\ [\c `edl\Yc\ hl\ X Zfek`elXZ`�e j\ [\kXccX% (%$ L9@:8:@FE <c gi\[`f dXk\i`X [\ cX gi\$ j\ek\ [`c`^\eZ`X j\ \eZl\e$ kiX lY`ZX[f \e cX Gifm`eZ`X [\ G`Z_`eZ_X# :Xek�e Hl`kf# gXiifhl`X :fkfZfccXf# J\Zkfi GfeZ`Xef 8ckf# \e cX ZXcc\ Df`j„j CleX 8e[iX[\ E$.' p GXjXa\ ,9# _fp F\*8# <[`]`Z`f ><E<J@J @@# ;\gXikXd\ekf G\ek_flj\ (# aXi[ˆe ljf \oZcl$ j`mf G\ek_flj\ E— (# CXmX[f p j\ZX[f E— ,# K\iiXqX \oZclj`mX G\ek_flj\ E— (# GXihl\X[\if E— (+# GXihl\X[\if E— (, p 9f[\^X E— -% )%$ C@E;<IFJ P JLG<I=@:@< G<EK?FLJ< E— ( E`m\c " .%.+ GcXekX k\iZ\i g`jf Xckf1 Efik\1 :fe leX cfe^`kl[ [\ (.%)' d Zfe mXZˆf _XZ`X i\k`if ]ifekXc Jli1 :fe leX cfe^`kl[ [\ ,%'' d% Zfe G\ek_flj\ E— )# Z`i$ ZlcXZ`�e g\XkfeXc# XjZ\ejfi# cXmX[f p j\ZX[f E— +# Z`iZlcX$ Z`�e g\XkfeXc p k\iiXqX \oZclj`mX [\gXikXd\e$ kf E— *) <jk\1 :fe leX cfe^`kl[ [\ 0%)' d Zfe mXZˆf _XZ`X i\k`if ]ifekXc F\jk\1 :fe leX cfe^`kl[ [\ 0%)' d Zfe k\iiXqX ljf \oZcl$ j`mf g\ek_flj\ E— (# aXi[ˆe `ek\i`fi# cXmX[\if j\ZX[\if g\ek_flj\ JLG<I@FI1 :fe }i\X i\Zi\Xk`$

mX ZfdleXc \e k\iiXqX Zfe le }i\X [\ (,+%,' d) @E=<I@FI1 :fe [\gXikXd\e$ kfj E— ** p *+ \e 0*%/- d) 8I<8 ;<C G<EK?FLJ< E— (1 (,+%,' d) 8C@:LFK8 G8I:@8C1 -%.* A8I;@E ;< LJF <O:CLJ@MF G<EK?FJ< E— ( E`m\c " .%.+ d% Efik\1 :fe leX cfe^`kl[ [\ *%)' d Zfe jXcX [\c g\ek_flj\ E—(% Jli1 :fe leX cfe^`kl[ [\ +%'' d% Zfe cXmX[f p j\ZX[f E— , [\c g\ek_flj\ E— ( <jk\1 :fe leX cfe^`kl[ [\ )%'' d Zfe Z`iZlcXZ`Â?e F\jk\1 :fe leX cfe^`kl[ [\ )%*' d Zfe k\iiXqX [\ ljf \oZclj`mf [\c g\ek_fj\ E— ( JLG<I@FI1 :fe Z`\cf XY`\ikf \e /%/' d) @E=<I@FI1 :fe [\gXikXd\ekf E—*) \e /%/' d) 8I<8 I<8C1 /%/' d) 8C@:LFK8 G8I:@8C1 '%() C8M8;F P J<:8;F E— , G<EK?FJ< E— ( E`m\c " .%.+ d% Efik\1 :fe leX cfe^`kl[ [\ +%+' d Zfe }i\X i\Zi\Xk`mX ZfdleXc Jli :fe leX cfe^`kl[ [\ ,%,' d% Zfe Z`iZlcXZ`Â?e g\XkfeXc <jk\1 :fe leX cfe^`kl[ [\ +%)' d Zfe mXZˆf _XZ`X i\k`if ]ifekXc F\jk\1 :fe leX cfe^`kl[# [\ )%+, d Zfe cXmX[f p j\ZX[f E— (- [\gXikXd\ekf E—** ( JLG<I@FI1 :fe Z`\cf XY`\ikf @E=<I@FI1 :fe g\ek_flj\ E—) \e (-%+' d) 8I<8 I<8C1 (-%+' d) 8C@:LFK8 G8I:@8C1 '%)0 K<II8Q8 ;< LJF <O:CLJ@MF G<EK?FJ< E— ( E@m\c " .%.+ d% Efik\1 :fe leX cfe^`kl[ [\ ,%+' d Zfe mXZˆf _XZ`X i\k`if ]ifekXc Jli1 :fe leX cfe^`kl[ ,%+' d% Zfe k\iiXqX [\ ljf \oZcl$ j`mf [\c [\gXikXd\ekf Ef%*) <jk\1 :fe leX cfe^`kl[ [\ /%0' d Zfe mXZˆf _XZ`X i\k`if ]ifekXc# g\ek_flj\ Ef% ( p aXi[ˆe \oZcl$ j`mf F\jk\1 :fe leX cfe^`kl[ [\ /%0' d% Zfe mXZˆf _XZ`X i\k`if cXk\iXc f\jk\% JLG<I@FI1 :fe Z`\cf XY`\ikf @E=<I@FI1 :fe [\gXikXd\ekf E— *( p *) \e +,%'' d) 8I<8 I<8C1 +,%''% d) 8C@:LFK8 G8I:@8C1 '%.0 9F;<>8 E—- E`m\c $ )%// d%% GC8EK8 JL9JL<CF E— ( Efik\1 :fe leX cfe^`kl[ [\ (%., d Zfe Z`iZlcXZ`Â?e g\XkfeXc Jli1 :fe leX cfe^`kl[ [\ (%., d% Zfe c`e[\if gifg`\[X[ gXik`ZlcXi <jk\1 :fe leX cfe^`kl[ [\ *%)' d Zfe Yf[\^X E—, F\jk\1 :fe leX cfe^`kl[ [\ *%)' d Zfe Z`iZlcXZ`Â?e g\X$ kfeXc% JLG<I@FI1 :fe gXk`f \oZcl$ j`mf [\c [\gXikXd\ekf E— (+ \e ,%-'d) @E=<I@FI1 :fe jl\cf ]`id\ \e ,%-' d) 8I<8 I<8C1 ,%-' d) 8C@:LFK8 G8I:@8C1 '%(' G8IHL<8;<IF E— (+ E`m\c $ )%// d% GC8EK8 JL9JL<CF E— ( Efik\1 :fe leX cfe^`kl[ [\ )%-' d Zfe Z`iZlcXZ`Â?e m\_`$ ZlcXi Jli1 :fe leX cfe^`kl[ [\ )%-' d% Zfe \jkXZ`feXd`\ekf E— (, <jk\1 :fe leX cfe^`kl[ [\ ,%'' d Zfe \jkXZ`feXd`\ekf E— () F\jk\1 :fe leX cfe^`kl[ [\ ,%'' d Zfe \jkXZ`feXd`\ekf E— (- p Z`iZlcXZ`Â?e m\_`ZlcXi JLG<I@FI1 :fe [\gXikXd\e$ kf E—(+ gcXekX YXaX \e (*%,' d) @E=<I@FI1 :fe jl\cf ]`id\ \e (*%,' d) 8I<8 I<8C1 (*%,' d) 8C@:LFK8 G8I:@8C1 '%)0 G8IHL<8;<IF E— (, E`m\@ Æ )%// d GC8EK8 JL9JL<CF E—( Efik\1 :fe leX cfe^`kl[ [\ )%-- d Zfe \jkXZ`feXd`\ekf E— (+ Jli# :fe leX cfe^`kl[ [\ )%-'d% Zfe Z`iZlcXZ`Â?e g\X$

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? kfeXc <jk\1 :fe leX cfe^`kl[ [\ ,%'' d% Zfe \jkXZ`feXd`\ekf E— (* F\jk\1 :fe leX cfe^`kl[ [\ ,%'' d Zfe \jkXZ`feXd`\ekf E— (- p (. JLG<I@FI1 :fe [\gXikXd\e$ kf E— (+ gcXekX YXaX \e (*%,' d) @E=<I@FI1 :fe jl\cf ]`id\ \e (*%,' d) 8I<8 I<8C1 (*%,'d) 8C@:LFK8 G8I:@8C1 '%)0 *%$ @E=I8<JKIL:KLI8 LI98E8 98J@:81 <c [\gXikXd\ekf \e d\eZ`Â?e \j gXik\ [\c \[`]`Z`f ><E<J@J @@ \e gcXekX k\iZ\i g`jf Xckf [`j$ gfe\ [\ j\im`Z`f [\ <e\i^ˆX <c„Zki`ZX# 8cZXekXi`ccX[f# 8^lX GfkXYc\# mˆXj gXm`d\ekX[Xj# \c \[`]`Z`f gfj\\ j\im`Z`f [\ j\^li`[X[ gi`mX[X% +%$ 8::<J@9@C@;8;1 <c XZZ\jf X cX gifg`\[X[ j\ cf i\Xc`qX [\j[\ \c jli gfi cX 8m% I\Xc 8l[`\eZ`X [\ Hl`kf _XjkX cc\^Xi X cX `ek\ij\ZZ`Â?e Zfe cX ZXcc\ Df`j„j CleX 8e[iX[\# Zfek`elXe[f gfi cX d`jdX _XZ`X \c fZZ`[\ek\ _XjkX cc\$ ^Xi X cX `ek\ij\ZZ`Â?e Zfe gXjX$ a\ ,9 _fp F\*8 \e [fe[\ hl\[X lY`ZX[f \c <[`]`Z`f ><E<J@J @@ Xc ZlXc g\ik\e\Z\ \c G<E?FLJ< dfk`mf [\c gi\$ j\ek\ XmXcÂ’f% ,% LJF ;<C JL<CF1 <c ljf \oZclj`mf gXiX I\j`[\eZ`Xc -% ;<J:I@G:@FE1 GIF>I8D8 =LE:@FE8C1 G<EK?FLJ< E— ( E`m\c " .%.+ GcXekX k\iZ\i g`jf Xckf1 Ă?i\X1 (,+%,'d) 8dY`\ek\j1 jXcX $ Zfd\[fi# ZfZ`eX# [fid`kfi`f dXjk\i p YXÂŒf# [fj [fid`kfi`fj# YXÂŒf Zfdgc\kf ZfdgXik`[f p YXÂŒf jfZ`Xc% J@JK<D8 :FEJKIL:K@MF1 G<EK?FLJ< E— ( E`m\c " .%.+ GcXekX k\iZ\i g`jf Xckf1 :lY`\ikX1 CfjX [\ _fid`^Â?e XidX[f% GXi\[\j1 DXdgfjk\iˆX [\ Ycf$ hl\ \eclZ`[X p g`ekX[X \e leX gXik\# Zfe YXc[fjX \e YXÂŒf p ZfZ`eX% :fcldeXj1 ;\ _fid`^Â?e XidX[f G`jfj1 :fe gfiZ\cXeXkf \e YXÂŒf p ZfZ`eX# kXYcfeZ`ccf \e jXcX# [fid`kfi`fj p jXcX [\ \jkXi Xc]fdYiX[fj% Gl\ikX [\ \ekiX[X1 ;\ dX[\$ iX# Gl\ikXj `ek\i`fi\j1 ;\ dX[\$ iX M\ekXeXj1 ;\ 8cld`e`f p m`[i`f :cfZ\kj1 ;\ dX[\iX Dl\Yc\j [\ ZfZ`eX1 ;\ dX[\$ iX D\jÂ?e [\ ZfZ`eX1 ;\ dX[\iX D;=% <JK8;F ;<C G<EK?FLJ<1 DLP 9L<EF% C8M8;F P J<:8;F Ef% , G<EK?FJ< E— ( E`m\c " .%.+ d% :lY`\ikX1 <jkilZkliX d\k}c`ZX Zfe XZiˆc`Zf% GXi\[\j1 DXdgfjk\iˆX [\ Ycf$ hl\ \eclZ`[X p g`ekX[X :fcldeXj1 ;\ _fid`^Â?e XidX[f G`jfj1 :fe dXidfc`eX% <JK8;F Ă?I<8 C8M8;F P J<:8;F1 DLP 9L<EF% G8IHL<8;<IF E—(+ p (, E`m\c $ )%// d% GC8EK8 JL9JL<CF Ef%% ( :lY`\ikX1 CfjX [\ _fid`^Â?e XidX[f% GXi\[\j1 Ef k`\e\% :fcldeXj1 ;\ _fid`^Â?e XidX[f G`jfj1 GXm`d\ekX[fj <JK8;F1 9L<EF% 9F;<>8 E—- E`m\c $ )%// d% GC8EK8 JL9JL<CF E— ( :lY`\ikX1 CfjX [\ _fid`^Â?e XidX[f% GXi\[\j1 DXdgfjk\iˆX [\ Ycf$ hl\ \eclZ`[X p g`ekX[X%

Ĉ

:fcldeXj1 ;\ _fid`^Â?e XidX[f G`jfj1 GXm`d\ekX[fj% Gl\ikX [\ \ekiX[X1 ;\ d\kXc% <JK8;F1 9L<EF% \%$ GXihl\X[\if ;\jZlY`\ikf E—. G`jfj1 GXm`d\ekX[fj <JK8;F1 9L<EF% <;8;1 ), 8zFJ G8IFO% CFJ D 8 K < I @ 8 C < J < D G C < 8 ; FJ <E C 8 :FEJKIL::@FE JFE ;< DLP 9L<E8 :8C@;8;% <JK8;F ><E<I8C ;<C G<EK?FLJ<1 DLP 9L<EF% .%$ F:LG8EK<J ;<C @EDL<9C<1 8c dfd\ekf [\ cX `ejg\Z$ Z`Â?e g\i`Z`Xc# cX gifg`\[X[ j\ \eZl\ekiX fZlgX[X gfi \c Ji% ?<IE8E G8KI@:@F :I@FCCF DFI8# E8K8C@8 JF=@8 ;FEFJF KF98I ;\dXe[X[fj % /% 8M8CLF ;<C @EDL<9C<1 GXiX i\Xc`qXi \c XmXcÂ’f [\c `edl\Yc\ _\ kfdX[f \e Zfe$ j`[\iXZ`Â?e cfj j`^l`\ek\j gXi}$ d\kifj k„Ze`Zf liYXeˆjk`Zf p ZfejkilZk`mf kXc\j Zfdf1 $ LY`ZXZ`Â?e [\c @edl\Yc\ Zfe i\jg\Zkf Xc j\Zkfi [\ cX Z`l$ [X[% $ @[\ek`]`ZXZ`Â?e [\c `edl\Yc\ Zfe i\jg\Zkf X cX `dgfikXeZ`X# ZXc`[X[# \jkX[f p [\ cXj mˆXj hl\ Z`iZle[Xe \c `edl\Yc\% $ =fidX p kXdXÂŒf [\c `edl\$ Yc\% $ Gfj`Y`c`[X[\j [\ cf^ˆjk`ZX [\c `edl\Yc\% $ ;`jgfe`Y`c`[X[ [\ j\im`$ Z`fj [\ `e]iX\jkilZkliX \e \c `edl\Yc\% $ <jkX[f [\ Zfej\imXZ`Â?e [\c `edl\Yc\ ZfejkilZZ`Â?e % $ <jkX[f p ZXc`[X[ [\ cfj dXk\$ i`Xc\j lk`c`qX[fj \e cX Zfej$ kilZZ`Â?e p jlj XZXYX[fj% <jkl[`f [\ gi\Z`fj [\ cfj gi\$ [`fj Z\iZXefj Xc `edl\Yc\ p jl }i\X [\ `e]cl\eZ`X% 8M8CLF KFK8C1 ;<J:I@G:@äE2 8I<8 d)2 :FJKF & D) LJ;2 :% KFK8C LJ;% G<EK?FLJ< E— (2 (,+%,'2 .''%''2 ('/%(,'#'' A8I;@E <O:CLJ@MF2 /%/'2 (,'%''2 (%*)'#'' C8M8;F P J<:8;F2 (-%+'2 (,'%''2 )%+-'#'' K<II8Q8 <O:CLJ@M82 +,%''2 *,'%''2 (,%.,'#'' G8IHL<8;<IF E— (+2 (*%,'2 *,'%''2 +%.),#'' G8IHL<8;<IF E— (,2 (*%,'2 *,'%''2 +%.),#'' 9F;<>8 E— -2 ,%-'2 *''%''2 (%-/'#'' DFEKF KFK8C 8M8CL8;F (*/%/('#'' LJ;% Jfe1 :@<EKF KI<@EK8 P F:?F D@C F:?F:@<EKFJ ;@<Q Zfe ''&('' [Â?cXi\j% Gfi kiXkXij\ [\c gi`d\i j\ÂŒXcX$ d`\ekf# j\ XZ\gkXi}e gfjkliXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c XmXcÂ’f gfi cf d\efj# \e \]\Zk`mf f Z_\hl\ Z\ik`]`ZX$ [f X fi[\e [\c Alq^X[f% <c `edl\Yc\ \jkX X ZXi^f [\c ;\gfj`kXi`f Al[`Z`Xc Ji% <ei`hl\ 8i`Xj% Al`Z`f [\ <a\Zlk`mf Ef% '(*,$ )''/ DJ% 8Y% DXi`f CXjjf Fik\^X% J<:I<K8I@F ;<C ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&./--'&k] 8M@JF ;< I<D8K< <C ALQ>8;F ;< :F8:K@M8 ;<C 98E:F E8:@FE8C ;< =FD<EKF JL:LIJ8C :8P8D9<% GIyJK8DF1 ,%-.%**%*%'.(.$ '0 AL@:@F EIF% )*.$)''0 J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ \c [ˆX M@<IE<J KI<J ;< ALE@F ;<C 8zF ;FJ

Ĺ? Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

ĉ

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

D@C FE:<# [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj# \e \c Alq^X[f [\ :fXZk`mX [\c 9XeZf EXZ`feXc [\ =fd\ekf JlZlijXc :XpXdY\# lY`ZX[f \e cXj ZXcc\j K\i}e p 9fcˆmXi [\ cX Z`l[X[ [\ :XpXdY\# j\ gifZ\$ [\i} Xc i\dXk\ [\c j`^l`\ek\ `edl\Yc\1 GI<;@F 8 I<D8K8IJ<%$ ;FJ K<II<EFJ P :FEJKIL::@äE (%$ L9@:8:@äE%$ Gifm`eZ`X G`Z_`eZ_X# :XekÂ?e :XpXdY\# gXiifhl`X AlXe DfekXcmf# j\Z$ kfi C8 CFD8% )%$ C@E;<IFJ%$ CFK< ;FJ%$ [\ cX jlg\i]`Z`\ [\ F:?<EK8 P ;FJ D<KIFJ :L8;I8;FJ# Zfe cfj j`^l`\ek\j c`e[\ifj1 EFIK<# Zfe \ekiX[X X cfj cfk\j# \e ,%), dkj%2 JLI# ZXcc\ GXki`Z`f Ifd\if# \e ,%*'dkj2 <JK<# Zfe cfk\ [\ I`kX M\c}jhl\q# \e (,%)' dkj%2 p# F<JK<# Zfe \ekiX[X X cfj cfk\j \e (*%/' dkj%$ CFK< ;FJ Ăˆ8É# [\ cX jlg\i]`Z`\ [\ :@<EKF FE:< D<KIFJ :L8;I8;FJ# Zfe cfj j`^l`\ek\j c`e[\ifj1 EFIK<# Zfe hl\YiX[X PXje}e# \e ('%,' dkj2 JLI# Zfe cfk\ [\ I`kX M\c}jhl\q# \e /%-'dkj2 <JK<# Zfe \ekiX[X X cfj cfk\j \e (+#/' dkj2 p# F<JK<# Zfe gifg`\[X[ [\ cfj _\i\[\ifj G\ÂŒX]`\c M\c}jhl\q# \e -%/' dkj% *%$ :FEJKIL::@FE<J%$ LE8 :8J8 [\ _fid`^Â?e XidX[f# Zfe le YXÂŒf# g`jf [\ Z\i}d`$ ZX%$ LeX ZXjX [\ 0 ZlXikfj g`jf [\ Z\i}d`ZX p dX[\iX ]XYi`ZXZ`Â?e d`okX k\Z_f [\ k\aX kldYX[f [\ dXccX# 0 Z_XeZ_\iXj le gXk`f g\hl\ÂŒf gXm`d\ekX[f%% 8M8CLF K<II<EF CFK< ) 00)#'' K<II<EF CFK< ) Ăˆ8É (%**.#'' : F E JK I L : : @ F E < J +%.*(#'' KFK8C .%'-'#'' JFE1 J@<K< D@C J<J<EK8 ;FC8I<J% Gfi kiXkXij\ [\c GI@D<I J<z8C8D@<EKF j\ XZ\gkXi}e f]\ikXj [\j[\ cXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c mXcfi kfkXc [\ XmXcÂ’f [\c Y`\e X i\dXkXij\# Xc ZfekX[f# [\Y`\e$ [f XZfdgXÂŒXi \c (' [\ cX f]\ikX \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c j\ÂŒfi Al\q [\ :fXZk`mX% J\ XZcXiX hl\ \c i\dXk\ [\c `edl\Yc\ Xek\j [\jZi`kf j\ cf _Xi} Zfdf Zl\igf Z`\ikf# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% (..* [\c :Â?[`^f Z`m`c% Ef j\ XZ\gkXi}e f]\ikXj X gcXqfj# e` Xhl\ccXj hl\ ef j\ \eZl\eki\e gXkifZ`eX[Xj gfi le 8Yf^X[f \e c`Yi\ \a\i$ Z`Z`f gif]\j`feXc# j\ÂŒXcXe[f ZXj`cc\if al[`Z`Xc \o`jk\ek\ \e cX Z`l[X[ [\ :XpXdY\# gXiX hl\ i\Z`YXe gfjk\i`fi\j efk`]`$ ZXZ`fe\j%$ kf[fj cfj ^Xjkfj hl\ j\ fZXj`feXi\e gXiX cX kiXej$ ]\i\eZ`X [\ [fd`e`f [\ [`Z_f `edl\Yc\ j\i}e [\ Zl\ekX [\c X[al[`ZXkXi`f# cf hl\ [\Y\$ i} ZfejkXi \e cX f]\ikX# Zfe \oZ\gZ`Â?e [\ Xhl\ccfj hl\ gfi \ogi\jf dXe[Xkf c\^Xc [\YXe j\i gX^X[fj gfi cfj ZfXZk`$ mX[fj%$ @e]fid\j \e cfj k\c]% )*-'$'+2 )*-'$'.*# \ok% ('*%$ J\Zi\kXiˆX [\c Alq^X[f% DXiˆX D\iZ\[\j :lXjZfkX% J<:I<K8I@8 8;$?F: <o`jk\ ]`idX p j\ccf% 8%G%+///-&b%d% 8M@JF ;< I<D8K< <C ALQ>8;F ;< :F8:K@M8 ;<C 98E:F E8:@FE8C ;< =FD<EKF JL:LIJ8C :8P8D9<% GIyJK8DF1 ,%-.%**%*%(*-'$ '/ AL@:@F EIF% +0$)'('

J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ \c [ˆX M@<IE<J KI<J ;< ALE@F ;<C 8zF ;FJ D@C FE:<# [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj# \e \c Alq^X[f [\ :fXZk`mX [\c 9XeZf EXZ`feXc [\ =fd\ekf JlZlijXc :XpXdY\# lY`ZX[f \e cXj ZXcc\j K\i}e p 9fcˆmXi [\ cX Z`l[X[ [\ :XpXdY\# j\ gifZ\$ [\i} Xc i\dXk\ [\c j`^l`\ek\ `edl\Yc\1 GI<;@F 8 I<D8K8IJ<%$ K<II<EF P :FEJKIL::@äE (%$ L9@:8:@äE%$ Gifm`eZ`X G`Z_`eZ_X# :XekÂ?e :XpXdY\# gXiifhl`X :Xe^X_lX# j\Zkfi C8I:8:?8:8% )%$ C@E;<IFJ%$ EFIK<# Zfe cfk\ j\`j2 JLI# Zfe cfk\ ZlX$ kif2 <JK<# ZXd`ef gÂ’Yc`Zf2 p# F<JK<# hl\YiX[X# Zfe leX jlg\i]`Z`\ kfkXc [\ F:?F D@C J<K<:@<EKFJ D<KIFJ D<KIFJ :L8;I8;FJ% *%$ :FEJKIL::@FE<J%$ LE8 :8J8 [\ Ycfhl\# k\Z_f [\ \k\ie`k# g`jf [\ Z\d\ekf# [\ +'d)%$ le YXÂŒf \ok\i`fi g`jf [\ Z\d\ekf%$ LeX ZXjX [\ KXg`X k\Z_f [\ k\aX [\ le jfcf Zl\igf# g`jf [\ k`\iiX# leX ZXjX [\ k\Z_f [\ \k\ie`k [\ le jfcf Zl\igf [\ gXi\[\j [\ kXg`X%$ LeX ZXjX \e ZfejkilZZ`Â?e [\ _fid`^Â?e XidX[f [\ [fj gcXe$ kXj# j`e k\id`eXi# * ZlXikfj \e cX gcXekX YXaX p ZlXkif ZlXikf p le YXÂŒf \e cX gcXekX XckX# [\ 0/ d)% 8M8CLF K<II<EF (-%-,(#'' : F E JK I L : : @ F E < J (*%+/(#'' KFK8C *'%(*)#'' JFE1 KI<@EK8 D@C :@<EKF KI<@EK8 P ;FJ ;FC8I<J% Gfi kiXkXij\ [\c GI@D<I J<z8C8D@<EKF j\ XZ\gkXi}e f]\ikXj [\j[\ cXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c mXcfi kfkXc [\ XmXcÂ’f [\c Y`\e X i\dXkXij\# Xc ZfekX[f# [\Y`\e$ [f XZfdgXÂŒXi \c (' [\ cX f]\ikX \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c j\ÂŒfi Al\q [\ :fXZk`mX% J\ XZcXiX hl\ \c i\dXk\ [\c `edl\Yc\ Xek\j [\jZi`kf j\ cf _Xi} Zfdf Zl\igf Z`\ikf# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% (..* [\c :Â?[`^f Z`m`c% Ef j\ XZ\gkXi}e f]\ikXj X gcXqfj# e` Xhl\ccXj hl\ ef j\ \eZl\eki\e gXkifZ`eX[Xj gfi le 8Yf^X[f \e c`Yi\ \a\i$ Z`Z`f gif]\j`feXc# j\ÂŒXcXe[f ZXj`cc\if al[`Z`Xc \o`jk\ek\ \e cX Z`l[X[ [\ :XpXdY\# gXiX hl\ i\Z`YXe gfjk\i`fi\j efk`]`$ ZXZ`fe\j%$ kf[fj cfj ^Xjkfj hl\ j\ fZXj`feXi\e gXiX cX kiXej$ ]\i\eZ`X [\ [fd`e`f [\ [`Z_f `edl\Yc\ j\i}e [\ Zl\ekX [\c X[al[`ZXkXi`f# cf hl\ [\Y\$ i} ZfejkXi \e cX f]\ikX# Zfe \oZ\gZ`Â?e [\ Xhl\ccfj hl\ gfi \ogi\jf dXe[Xkf c\^Xc [\YXe j\i gX^X[fj gfi cfj ZfXZk`$ mX[fj%$ @e]fid\j \e cfj k\c]% )*-'$'+2 )*-'$'.*# \ok% ('*%$ J\Zi\kXiˆX [\c Alq^X[f% DXiˆX D\iZ\[\j :lXjZfkX% J<:I<K8I@8 8;$?F: <o`jk\ ]`idX p j\ccf% 8%G%+///-&b%d% 8M@JF ;< I<D8K< <C ALQ>8;F ;< :F8:K@M8 ;<C 98E:F E8:@FE8C ;< =FD<EKF JL:LIJ8C :8P8D9<% GIyJK8DF1 (%*-%**%*%('*,$ '0 AL@:@F EIF% ()'$)'(' J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ \c [ˆX M@<IE<J KI<J ;< ALE@F ;<C 8zF ;FJ D@C FE:<# [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj# \e \c Alq^X[f [\ :fXZk`mX [\c 9XeZf EXZ`feXc [\ =fd\ekf JlZlijXc :XpXdY\# lY`ZX[f \e cXj ZXcc\j K\i}e p 9fcˆmXi [\ cX Z`l[X[ [\ :XpXdY\# j\ gifZ\$

Ĺ?

[\i} Xc i\dXk\ [\c j`^l`\ek\ `edl\Yc\1 GI<;@F 8 I<D8K8IJ<%$ K<II<EF P :FEJKIL::@äE (%$ L9@:8:@äE%$ Gifm`eZ`X [\ G`Z_`eZ_X# :XekÂ?e :XpXdY\# GXiifhl`X 8pfiX# j\Zkfi liYX$ ef% )%$ C@E;<IFJ%$ EFIK<# gif$ g`\[X[ [\ Afi^\ M`ccXZˆj2 JLI# gifg`\[X[ [\ :Xicfj EXmXiif# kXg`X d\[`Xe\iX2 <JK<# :Xcc\ <jd\iXc[Xj2 p# F<JK<# gfki\ifj [\ cX _XZ`\e[X CX I\dfekX# Zfe leX jlg\i]`Z`\ kfkXc [\ J<K<EK8 P KI<J D<KIFJ :L8;I8;FJ :FE ;@<:@EL<M< ;<:Ă D<KIFJ :L8;I8;FJ% *%$ :FEJKIL::@FE<J%$ D<;@8>L8%$ \e le }i\X [\ .*%(0d)# ZlY`\ikX [\ \k\ie`k# gXi\[\j [\ cX[i`ccf# g`jf [\ Z\d\ekf# kldYX[f [\ dX[\iX p ki`gc\j# le jfcf ZlXikf% 8M8CLF K<II<EF +%)0(#'' : F E JK I L : : @ F E < J ,%*.)#'' KFK8C 0%--*#'' JFE1 EL<M< D@C J<@J:@<EKFJ J<J<EK8 P KI<J ;FC8I<J% Gfi kiXkXij\ [\c GI@D<I J<z8C8D@<EKF j\ XZ\gkXi}e f]\ikXj [\j[\ cXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c mXcfi kfkXc [\ XmXcÂ’f [\c Y`\e X i\dXkXij\# Xc ZfekX[f# [\Y`\e$ [f XZfdgXÂŒXi \c (' [\ cX f]\ikX \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c j\ÂŒfi Al\q [\ :fXZk`mX% J\ XZcXiX hl\ \c i\dXk\ [\c `edl\Yc\ Xek\j [\jZi`kf j\ cf _Xi} Zfdf Zl\igf Z`\ikf# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% (..* [\c :Â?[`^f Z`m`c% Ef j\ XZ\gkXi}e f]\ikXj X gcXqfj# e` Xhl\ccXj hl\ ef j\ \eZl\eki\e gXkifZ`eX[Xj gfi le 8Yf^X[f \e c`Yi\ \a\i$ Z`Z`f gif]\j`feXc# j\ÂŒXcXe[f ZXj`cc\if al[`Z`Xc \o`jk\ek\ \e cX Z`l[X[ [\ :XpXdY\# gXiX hl\ i\Z`YXe gfjk\i`fi\j efk`]`$ ZXZ`fe\j%$ kf[fj cfj ^Xjkfj hl\ j\ fZXj`feXi\e gXiX cX kiXej$ ]\i\eZ`X [\ [fd`e`f [\ [`Z_f `edl\Yc\ j\i}e [\ Zl\ekX [\c X[al[`ZXkXi`f# cf hl\ [\Y\$ i} ZfejkXi \e cX f]\ikX# Zfe \oZ\gZ`Â?e [\ Xhl\ccfj hl\ gfi \ogi\jf dXe[Xkf c\^Xc [\YXe j\i gX^X[fj gfi cfj ZfXZk`$ mX[fj%$ @e]fid\j \e cfj k\c]% )*-'$'+2 )*-'$'.*# \ok% ('*%$ J\Zi\kXiˆX [\c Alq^X[f% DXiˆX D\iZ\[\j :lXjZfkX% J<:I<K8I@8 8;$?F: <o`jk\ ]`idX p j\ccf% 8%G%+///-&b%d% 8M@JF ;< I<D8K< <C ALQ>8;F ;< :F8:K@M8 ;<C 98E:F E8:@FE8C ;< =FD<EKF JL:LIJ8C :8P8D9<% GIyJK8DF1 (%**%**%*%'-)0$ '0 AL@:@F EIF% ()-$)'(' J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ \c [ˆX M@<IE<J KI<J ;< ALE@F ;<C 8zF ;FJ D@C FE:<# [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj# \e \c Alq^X[f [\ :fXZk`mX [\c 9XeZf EXZ`feXc [\ =fd\ekf JlZlijXc :XpXdY\# lY`ZX[f \e cXj ZXcc\j K\i}e p 9fcˆmXi [\ cX Z`l[X[ [\ :XpXdY\# j\ gifZ\$ [\i} Xc i\dXk\ [\c j`^l`\ek\ `edl\Yc\1 GI<;@F 8 I<D8K8IJ<%$ K<II<EF P :FEJKIL::@äE (%$ L9@:8:@äE%$ Gifm`eZ`X [\ G`Z_`eZ_X# :XekÂ?e :XpXdY\# GXiifhl`X AlXe DfekXcmf# j\Z$ kfi JXekX @jXY\c% )%$ C@E;<IFJ%$ EFIK<# ZXcc\ gÂ’Yc`ZX2 JLI# hl\YiX[X GlekX [\ I\aX2 <JK<# ?\i\[\ifj [\ IfY\ikf >lqd}e p Afj„ M}jhl\q2 p# F<JK<# Cfk\ [\ Cl`j >lqd}e# Zfe leX jlg\i$ ]`Z`\ kfkXc [\ :L8KIF D@C F:?F:@<EKFJ D<KIFJ :L8;I8;FJ% *%$ :FEJKIL::@FE<J%$ :8J8 ;< M@M@<E;8%$ [\ -'d)# ZlY`\ikX [\ k\aX# gXi\[\j [\ cX[i`ccf# [`jki`Yl`[f \e [fj ZlXikfj%$ :F:@E8 [\ c\ÂŒX Zfe ZlY`\ikX [\ dX[\iX p k\aX% 8M8CLF K<II<EF *,%-0(#'' : F E JK I L : : @ F E < J

<o`jk\ ]`idX p j\ccf% 8%G%+///-&b%d%

IŒbe ^Wo kd h_dYŒd [d [b kd_l[hie gk[ W Xk[d i[]khe fk[Z[i c[`ehWh o [i[ h_dYŒd [h[i j‘$

JF:@<;8; :@M@C ALQ>8;F J<GK@DF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C C8 8GIF98:@äE ;< C8 :FEJK@KL:@äE ;< C8 JF:@<;8; :@M@C# ;<EFD@E8;8 C8 :L<M8 >FLID<K# FKFI>8;8 <C '+ ;< 89I@C ;< )'((# 8EK< <C EFK8I@F GL9C@:F M@><J@DF J<>LE;F ;<C :8EKFE HL@KF# ;I% =89@8E JFC8EF 8:KFI<J% DXiˆX 8l^ljkX >XiZˆX CÂ?g\q# 9cXeZX :\Z`c`X :fYfj :fYfj p ?„Zkfi 8e^XdXiZX D\a`ZXef AL@:@F%$ 8gifYXZ`Â?e [\ :fejk`klZ`Â?e [\ cX JfZ`\[X[ :`m`c [\efd`eX[X Ăˆ CX :l\mX >flid\kÉ# fkfi^X[X d\[`Xe$ k\ \jZi`kliX gÂ’Yc`ZX [\ + [\ XYi`c [\ )'((# Xek\ \c EfkXi`f M`^„j`df J\^le[f [\c :XekÂ?e Hl`kf# ;i% =XY`}e JfcXef% KI8D@K<%$ <jg\Z`Xc :L8EK@8% @e[\k\id`eX[X F9A<KF ;< C8 ;<D8E;8$ 8gifYXZ`Â?e [\ :fejk`klZ`Â?e [\ cX JfZ`\[X[ :`m`c [\efd`eX[X Ăˆ CX :l\mX >flid\kÉ% :8LJ8 Ef% +,($)'(( <% GIF8zF GIFM@;<E:@8 ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j (( [\ XYi`c [\ )'((# cXj '0_')%$ M@JKFJ1 8mfZf Zfef$ Z`d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q K`klcXi

B;ED7H: 7B:EKI >KNB;O

,%,*'#'' KFK8C +(%))(#'' JFE1 :L8I<EK8 P LE D@C ;FJ:@<EKFJ M<@EK@LE ;FC8I<J% Gfi kiXkXij\ [\c GI@D<I J<z8C8D@<EKF j\ XZ\gkXi}e f]\ikXj [\j[\ cXj hl\ ZlYiXe cXj [fj k\iZ\iXj gXik\j [\c mXcfi kfkXc [\ XmXcÂ’f [\c Y`\e X i\dXkXij\# Xc ZfekX[f# [\Y`\e$ [f XZfdgXÂŒXi \c (' [\ cX f]\ikX \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c j\ÂŒfi Al\q [\ :fXZk`mX% J\ XZcXiX hl\ \c i\dXk\ [\c `edl\Yc\ Xek\j [\jZi`kf j\ cf _Xi} Zfdf Zl\igf Z`\ikf# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% (..* [\c :Â?[`^f Z`m`c% Ef j\ XZ\gkXi}e f]\ikXj X gcXqfj# e` Xhl\ccXj hl\ ef j\ \eZl\eki\e gXkifZ`eX[Xj gfi le 8Yf^X[f \e c`Yi\ \a\i$ Z`Z`f gif]\j`feXc# j\ÂŒXcXe[f ZXj`cc\if al[`Z`Xc \o`jk\ek\ \e cX Z`l[X[ [\ :XpXdY\# gXiX hl\ i\Z`YXe gfjk\i`fi\j efk`]`$ ZXZ`fe\j%$ kf[fj cfj ^Xjkfj hl\ j\ fZXj`feXi\e gXiX cX kiXej$ ]\i\eZ`X [\ [fd`e`f [\ [`Z_f `edl\Yc\ j\i}e [\ Zl\ekX [\c X[al[`ZXkXi`f# cf hl\ [\Y\$ i} ZfejkXi \e cX f]\ikX# Zfe \oZ\gZ`Â?e [\ Xhl\ccfj hl\ gfi \ogi\jf dXe[Xkf c\^Xc [\YXe j\i gX^X[fj gfi cfj ZfXZk`$ mX[fj%$ @e]fid\j \e cfj k\c]% )*-'$'+2 )*-'$'.*# \ok% ('*%$ J\Zi\kXiˆX [\c Alq^X[f% DXiˆX D\iZ\[\j :lXjZfkX% J<:I<K8I@8 8;$?F: <o`jk\ ]`idX p j\ccf% 8%G%+///-&b%d% 8M@JF ;< I<D8K< <C ALQ>8;F ;< :F8:K@M8 ;<C 98E:F E8:@FE8C ;< =FD<EKF JL:LIJ8C :8P8D9<% GIyJK8DF1 (%*-%**%*%'+/.$ '/ AL@:@F EIF% *.$)''0 J\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ \c [ˆX M@<IE<J KI<J ;< ALE@F ;<C 8zF ;FJ D@C FE:<# [\j[\ cXj ZXkfiZ\ _XjkX cXj [`\Z`fZ_f _fiXj# \e \c Alq^X[f [\ :fXZk`mX [\c 9XeZf EXZ`feXc [\ =fd\ekf JlZlijXc :XpXdY\# lY`ZX[f \e cXj ZXcc\j K\i}e p 9fcˆmXi [\ cX Z`l[X[ [\ :XpXdY\# j\ gifZ\$ [\i} Xc i\dXk\ [\c j`^l`\ek\ `edl\Yc\1 GI<;@F 8 I<D8K8IJ<%$ K<II<EF P :FEJKIL::@äE (%$ L9@:8:@äE%$ Gifm`eZ`X [\ G`Z_`eZ_X# :XekÂ?e :XpXdY\# GXiifhl`X 8PFI8# ZfdleX GXhl`\jkXeZ`X j\Zkfi 9l^X% )%$ C@E;<IFJ%$ EFIK<# hl\$ YiX[X :Xi`XZl2 JLI# gifg`\[X[ [\ If^\c`f =Xi`eXe^f# ZXd`ef Xc d\[`f2 <JK<# G}iXdf :fdleXc2 p# F<JK<# hl\YiX[X :Xi`XZl# Zfe leX jlg\i]`Z`\ kfkXc [\ ;F:< ?<:KĂ?I<8J J<K<:@<EKFJ :@E:L<EK8 D<KIFJ :L8;I8;FJ% *%$ :FEJKIL::@FE<J%$ ;FJ :8J8J ;< M@M@<E;8%$ \e le }i\X [\ ()'d)# ZlY`\ikX [\ k\aX# gXi\[\j [\ cX[i`ccf# \jk} [`jki`Yl`[f \e [fj ZlXikfj fZl$ gX[fj Zfdf [fid`kfi`fj jXcX Zfd\[fi p ZfZ`eX# cX ZXjX \j [\ gXi\[\j [\ kXg`X p ZlY`\ikX [\ k\aX# g`jf [\ cX[i`ccf \o`jk\ le _fief [\ c\ÂŒX% CX FkiX ZXjX [fj XdY`\ek\j# Zfe g`jf [\ Z\d\ekf# gXi\[\j cX[i`ccf# k\Z_f [\ k\aX% 8M8CLF K<II<EF ('(%./+#'' : F E JK I L : : @ F E < J ((%'-'#'' KFK8C (()%/++#'' JFE1 :@<EKF ;F:< D@C F:?F:@<EKFJ :L8I<EK8 P :L8KIF ;FC8I<J% Gfi kiXkXij\ [\c GI@D<I J<z8C8D@<EKF j\ XZ\gkXi}e f]\ikXj [\j[\ cXj hl\ ZlYiXe

cXj [fj k\iZ\iXj gXik\j [\c mXcfi kfkXc [\ XmXc’f [\c Y`\e X i\dXkXij\# Xc ZfekX[f# [\Y`\e$ [f XZfdgXŒXi \c (' [\ cX f]\ikX \e [`e\if \]\Zk`mf f \e Z_\hl\ Z\ik`]`ZX[f X cX fi[\e [\c j\Œfi Al\q [\ :fXZk`mX% J\ XZcXiX hl\ \c i\dXk\ [\c `edl\Yc\ Xek\j [\jZi`kf j\ cf _Xi} Zfdf Zl\igf Z`\ikf# [\ Zfe]fid`[X[ Zfe cf [`jgl\j$ kf \e \c 8ik% (..* [\c :�[`^f Z`m`c% Ef j\ XZ\gkXi}e f]\ikXj X gcXqfj# e` Xhl\ccXj hl\ ef j\ \eZl\eki\e gXkifZ`eX[Xj gfi le 8Yf^X[f \e c`Yi\ \a\i$ Z`Z`f gif]\j`feXc# j\ŒXcXe[f ZXj`cc\if al[`Z`Xc \o`jk\ek\ \e cX Z`l[X[ [\ :XpXdY\# gXiX hl\ i\Z`YXe gfjk\i`fi\j efk`]`$ ZXZ`fe\j%$ kf[fj cfj ^Xjkfj hl\ j\ fZXj`feXi\e gXiX cX kiXej$ ]\i\eZ`X [\ [fd`e`f [\ [`Z_f `edl\Yc\ j\i}e [\ Zl\ekX [\c X[al[`ZXkXi`f# cf hl\ [\Y\$ i} ZfejkXi \e cX f]\ikX# Zfe \oZ\gZ`�e [\ Xhl\ccfj hl\ gfi \ogi\jf dXe[Xkf c\^Xc [\YXe j\i gX^X[fj gfi cfj ZfXZk`$ mX[fj%$ @e]fid\j \e cfj k\c]% )*-'$'+2 )*-'$'.*# \ok% ('*%$ J\Zi\kXiˆX [\c Alq^X[f% DXiˆX D\iZ\[\j :lXjZfkX% J<:I<K8I@8 8;$?F:

[\ \jkX Al[`ZXkliX% <e cf gi`e$ Z`gXc# cX g\k`Z`�e hl\ Xek\Z\[\ \j ZcXiX# Zfdgc\kX p i\’e\ cfj [\d}j i\hl`j`kfj [\ c\p% <e Zfej\Zl\eZ`X# glYcˆhl\j\ le \okiXZkf [\ cX g\k`Z`�e p \jZi`$ kliX g’Yc`ZX [\ cX Zfejk`klZ`�e [\ cX JF:@<;8; :@M@C# [\ef$ d`eX[X cX :L<M8 >FLID<K# fkfi^X[X \c + [\ 8Yi`c [\ )'((# Xek\ \c EfkXi`f G’Yc`Zf M`^„j`df J\^le[f [\c ZXe$ k�e Hl`kf# ;i% =XY`}e <[lXi[f JfcXef# \e lef [\ cfj g\i`�[`$ Zfj [\ dXpfi Z`iZlcXZ`�e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf# gfi leX jfcX m\q%$ 8^i„^l\j\ cX [fZld\ekXZ`�e XZfdgX$ ŒX[X% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ŒXcX[f%$ EFK@=@HL<J<%$= ;i% IX’c DXi`Œf ?\ie}e[\q%$ Cf hl\ gfe^f \e ZfefZ`d`\ekf [\c g’Yc`Zf \e ^\e\iXc gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j% ;i% DXel\c 8d�e D\[`eX J<:I<K8I@F ;<C ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0(/*&k]

JF:@<;8; :FEPL>8C <OKI8:KF EFK8I@8 EFM<E8 ;<C :8EKFE HL@KF :’dgc\d\ gfe\i \e Zfef$ Z`d`\ekf [\c g’Yc`Zf# hl\ d\[`Xek\ \jZi`kliX g’Yc`ZX fkfi^X[X Xek\ dˆ# ;F:KFI AL8E M@CC8:@J D<;@E8# EFK8I@F EFM<EF ;<C :8EKFE HL@KF \eZXi^X[f #

j\^’e f]`Z`f e’d\if efm\$ Z`\ekfj j\j\ekX p ZlXkif ;;G$ DJ># [\ ]\Z_X Z`eZf [\ X^fjkf [\c [fj d`c ki\j# \c [ˆX / [\ XYi`c [\c )'('# cfj Z�epl^\j Clˆj 8cY\ikf IfdXef M`el\qX p Ifddp JfiXpX CXiX :fYf# gifZ\[`\ife X cX c`hl`[XZ`�e p gXik`Z`�e [\ cX jfZ`\[X[ Zfepl^Xc# cX d`jdX hl\ ]l\ [`jl\ckX# j\^’e \jZi`kliX Z\c\$ YiX[X Xek\ \c EfkXi`f Efm\ef ;fZkfi AlXe M`ccXZˆj D\[`eX# \c (' [\ X^fjkf [\c )'('% CX X[al[`ZXZ`�e [\c GXki`dfe`f j\ _XccX [\kXccX[f \e \c k\okf [\ cX i\]\i`[X \jZi`kliX g’Yc`ZX [\ c`hl`[XZ`�e p gXik`Z`�e [\ cX jfZ`\[X[ Zfepl^Xc# gfi cf hl\ \e Xgc`ZXZ`�e X cf [`jgl\jkf \e \c 8ik% - [\ cX C\p I\]fidXkfi`X X cX c\p EfkXi`Xc glYc`ZX[X \e \c I\^`jkif F]`Z`Xc Ef +'- [\ )/ [\ efm`\dYi\ [\c )''-# hl\ X jl m\q i\]fidX \c 8ik% (/ [\ cX C\p EfkXi`Xc X^i\^Xe[f mXi`fj eld\iXc\j p \eki\ cfj ZlXc\j \c eld\iXc )* ]XZlckX Xc EfkXi`f [`jgfe\i cX `ejZi`gZ`�e \e \c I\^`jkif [\ cX Gifg`\[X[ cX \jZi`kliX [\ C`hl`[XZ`�e p gXik`Z`�e [\ jfZ`\[X[ Zfepl$ ^Xc# gi\m`f Xc ki}d`k\ gi\m`jkf \e [`Z_X efidX c\^Xc# gfe^f \e ZfefZ`d`\ekf [\c g’Yc`Zf d\[`Xek\ leX glYc`ZXZ`�e \e cX Z`l[X[ [\ Hl`kf# \c \okiXZkf [\ cX c`hl`[XZ`�e p gXik`Z`�e [\c gXki`dfe`f [\ cX jfZ`\[X[ Zfepl^Xc Zfii\jgfe[`\ek\ X cfj Z�epl^\j Clˆj 8cY\ikf IfdXef M`el\qX p Ifddp JfiXpX CXiX :fYf# fkfi^X[f d\[`Xek\ \jZi`kliX [\ / [\ XYi`c [\c )'((# Xek\ \c jljZi`$ kf EfkXi`f ;i% AlXe M`ccXZˆj

SEGUNDA CONVOCATORIA CONVOCATORIA A JUNTA GENERAL ORDINARIA DE ACCIONISTAS DE LA COMPAĂ‘Ă?A DE TRANSPORTES PLANETA “TRANSPLANETA S.A.â€?

De conformidad con lo establecido en el ArtĂ­culo 234 de la Ley de Compaùías y el ArtĂ­culo 19 de nuestros Estatutos Sociales, se convoca a las seĂąoras y seĂąores accionistas de la COMPAĂ‘Ă?A DE TRANSPORTES PLANETA “TRANSPLANETA S.A.â€?, e individualmente a los SeĂąores Comisarios del perĂ­odo 2010, PURUNCAJAS MENDOZA NELSON CRISTĂ“BAL Y AVILA GALLO LUIS MARCELO de igual manera a los seĂąores comisarios del periodo 2011, ZAPATA NOBOA LUIS ANĂ?BAL Y OYOS VASCONEZ EDWING ORLANDO a la Junta General de Accionistas, la cual tendrĂĄ lugar en las oficinas de la Compaùía situadas en las calles Emilio UzcĂĄtegui Oe6-121 y Alonso Pablos esquina, del Distrito Metropolitano de Quito, el dĂ­a viernes 29 de abril del 2011, a las 10h00, con el objeto de conocer y tratar los siguientes puntos del orden del dĂ­a:

1.

Informe del seĂąor Presidente (Dr. Wilian Bastidas), Corredor Sur Oriental Sistema Operacional.

2.

Informe del Sr. Gerente (Carlos E. Mayorga) del ejercicio econĂłmico.

3.

Informe de los seĂąores Comisarios del ejercicio econĂłmico del aĂąo 2010.

4.

Conocimiento y aprobaciĂłn del Balance General y Balance del Estado de PĂŠrdidas y Ganancias del aĂąo 2010.

5.

Resolver sobre el destino de utilidades y;

6.

Lectura y aprobaciĂłn de la presente acta.

NOTA: El balance correspondiente al Ejercicio Económico de 2010, y sus respectivos anexos se encuentra a disposición de los seùores accionistas en el Departamento de Contabilidad de la Compaùía, a partir de la presente fecha.

Se convoca con el carĂĄcter de obligatorio a la Junta Extraordinaria de Accionistas de la compaùía SOCIEDAD DE EMPRESAS DE TRANSPORTE DE PASAJEROS NORORIENTAL C.A. “SOTRANORâ€?, que se llevarĂĄ a cabo en el domicilio de la empresa situado en la parroquia de Pifo, Barrio San Francisco lote # 17, de este cantĂłn Quito, provincia de Pichincha, el dĂ­a jueves 05 de mayo del 2011, a las 09:00 a.m., para tratar el siguiente orden del dĂ­a: 1. ConstataciĂłn y legalizaciĂłn del QuĂłrum reglamentario en funciĂłn del capital social. 2. Informe del seĂąor Presidente Ejecutivo. 3. Informe del seĂąor Gerente General. 4. Informe de los seĂąores comisarios sobre el ejercicio econĂłmico del aĂąo 2010. 5. AprobaciĂłn de los estados financieros del ejercicio econĂłmico de la Compaùía correspondiente al aĂąo 2010. 6. Lectura del informe de auditoria del ejercicio econĂłmico del aĂąo 2010. 7. AnĂĄlisis del presupuesto de la Compaùía para el aĂąo 2011. 8. ElecciĂłn del seĂąor Presidente Ejecutivo. 9. ElecciĂłn del seĂąor Gerente General. 10. ElecciĂłn de los seĂąores Comisarios. Se convoca de manera individual e independiente a los seĂąores GermĂĄn DomĂ­nguez y Jorge Medina, comisarios de la empresa. Los balances e informes se encuentran a disposiciĂłn de los seĂąores accionistas en las oficinas de la Compaùía, a partir de la presente fecha. Cabe mencionar que la primera convocatoria saliĂł publicada el 25 de marzo del 2011 en el Diario La Hora. Por lo tanto realizaremos la segunda convocatoria con el nĂşmero de accionistas presentes, de acuerdo al artĂ­culo # 237 de la Ley de Compaùías. Pifo, 18 de abril del 2011.

Quito, 20 de abril del 2011. Atentamente,

Atentamente,

CIA. TRANSPLANETA S.A.

Sr. Santiago Herrera GERENTE GENERAL

Dr. Wilian Bastidas PRESIDENTE

Sr. Carlos Mayorga GERENTE AC/79207/tf

Sr. NeptalĂ­ BohĂłrquez PRESIDENTE EJECUTIVO AC/79203/tf

D\[`eX# EfkXi`f Efm\ef [\c ZXek�e Hl`kf \ # gfi \c k„id`$ ef [\ m\`ek\ [ˆXj X ZfekXij\ [\j[\ cX ]\Z_X [\ cX glYc`ZX$ Z`�e [\ \jk\ \okiXZkf# X ]`e [\ hl\ cXj g\ijfeXj hl\ \m\eklXc$ d\ek\ klm`\i\e `ek\i„j \e \jkX c`hl`[XZ`�e gl\[Xe gi\j\ekXi jl fgfj`Z`�e ]le[Xd\ekX[X# [\ekif [\c i\]\i`[f k„id`ef% GXik`ZlcXi hl\ gfe^f \e Zfef$ Z`d`\ekf gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe[`\ek\j%$ Hl`kf# )' [\ XYi`c [\c )'((% ;I% AL8E M@CC8:@J D<;@E8 EFK8I@F EFM<EF ;<C :8EKFE HL@KF < 8%G%&+/0(,&b%d%

M8I@FJ I\gÂ’Yc`ZX [\c <ZlX[fi <OKI8:KF AL;@:@8C ALQ>8;F ;y:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C 8 CFJ ?<I<;<IFJ GI<JLEKFJ P ;<J:FEF:@;FJ ;< C8 J<zFI8 D8I@8 ;<C :8ID<E FI=<C@E8 D @ I 8 E ;8 >8M@C8E<Q AL@:@F1 @EM<EK8I@FJ Ef% (+,($)''0$BD 8:KFI1 D8I@8 8L>LJK8 ;LI8E D<I8 ;<D8E;8;F1 9FI@J E@BFC8@ ;LI8E D<I8# D8I@8 ;< C8 G8Q ;LI8E D<I8# D8I@8 @E<J ;LI8E D<I8 \ @E<J JK<G?8E@< ;LI8E D<I8 F9A<KF1 F9K<E<I C8 =8::@äE ;< @EM<EK8I@FJ ;< CFJ 9@<E<J ;< C8 :8LJ8EK< J<zFI8 D8I@8 ;<C :8ID<E FI=<C@E8 D@I8E;8 >8M@C8E<Q KI8D@K<1 <JG<:@8C :L8EK@81 @E;<K<ID@E8;8 G I F M @ ; < E : @ 8 ALQ>8;F ;y:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# ). [\ Efm`\dYi\ [\c )''0# cXj (-_+/%$M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX ZXljX \e ZXc`[X[ [\ Al\q Jlgc\ek\ Zfe]fid\ Xc F]`Z`f Ef% 0).$;G$;;G$A8I$'. [\ , [\ [`Z`\dYi\ [\ )''.% CX [\dXe[X \j ZcXiX# gi\Z`jX p i\Â’e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\# j\ cX XZ\gkX X ki}d`k\% <e kXc m`ikl[# j\ [\ZcXiX XY`\ikX cX jlZ\j`Â?e [\ cX j\ÂŒfiX DXiˆX [\c :Xid\e Fi]\c`eX D`iXe[X >Xm`cXe\q# Zlpf ]Xcc\Z`d`\ekf j\ XZi\[`kX Zfe \c [fZld\ekf ZfejkXek\ X ]faXj (2 Zfej\Zl\e$ k\d\ek\# gifZ„[Xj\ Xc `em\e$ kXi`f p XmXcÂ’f [\ cfj Y`\e\j [\aX[fj gfi cX ZXljXek\# Zfe cX `ek\im\eZ`Â?e [\c @e^% <[n`e ?\ii\iX ?\ii\iX Kc]j% ) )+,$ 00'2 ) +-*$//(2 '00 +0+$ (0) # g\i`kf [\j`^eX[f gfi \jkX Al[`ZXkliX Zfe]fid\ X cX ]XZlckX[ gi\m`jkX \e \c 8ik% ),) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# hl`\e kfdXi} gfj\j`Â?e [\c ZXi^f \c [ˆX m`\ie\j ZlX$ kif [\ [`Z`\dYi\ [\c XÂŒf \e Zlijf# X cXj fZ_f _fiXj ZlX$ i\ekX p Z`eZf d`elkfj% :ˆk\j\ X cfj j\ÂŒfi\j 9FI@J E@BFC8@ ;LI8E D<I8# D8I@8 ;< C8 G8Q ;LI8E D<I8# D8I@8 @E<J ;LI8E D<I8 \ @E<J JK<G?8E@< ;LI8E D<I8 \e \c cl^Xi `e[`ZX[f gXiX \c \]\Zkf% ;\ XZl\i[f X cf gi\Z\gklX[f \e \c 8ik% /) `Yˆ[\d# Zˆk\j\ X cfj ?<I<;<IFJ GI<JLEKFJ P ;<J:FEF:@;FJ ;< C8 J<zFI8 D8I@8 ;<C :8ID<E FI=<C@E8 D @ I 8 E ;8 >8M@C8E<Q# d\[`Xek\ ki\j glYc`ZXZ`fe\j [\ gi\ejX# ZX[X leX [\ \ccXj \e ]\Z_X [`jk`ekX# \e lef [\ cfj g\i`Â?[`Zfj [\ Xdgc`X Z`iZlcXZ`Â?e \e cX Z`l$ [X[ [\ Hl`kf% @ejZiˆYXj\ cX [\dXe[X \e \c I\^`jkif [\ cX Gifg`\[X[ [\ \jkX cfZXc`[X[% :l„ek\j\ \e \jkX ZXljX Zfe \c J\im`Z`f [\ I\ekXj @ek\ieXj% KÂ?d\j\ \e Zl\ekX \c [fd`Z`$ c`f al[`Z`Xc ]`aX[f gfi cX XZkfiX gXiX i\Z`Y`i efk`]`ZXZ`fe\j gfjk\i`fi\j p X^i„^l\j\ cX [fZld\ekXZ`Â?e X[alekX% Efk`]ˆhl\j\%$ ] ;i% IlY„e :\mXccfj =XYXiX% Al\q% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\

j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX ]lkliXj efk`]`ZXZ`fe\j hl\ c\ Zfii\jgfe[Xe% :\ik`]`Zf% ;i% E`cf >feqXcf 8cdXZ_` J<:I<K8I@F ;<C ALQ>8;F ;<:@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0)'0&k] ALQ>8;F J<GK@DF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C C8 I<:K@=@:8:@äE ;< G8IK@;8 ;< C8 J<zFI8 J@M<I@8 D8I>FK >L8:?8D@E C<D8 8:KFI81 J`m\i`X DXi^fk >lXZ_Xd`e C\dX AL@:@F%$ I\Zk`]`ZXZ`Â?e [\ gXi$ k`[X [\ eXZ`d`\ekf KI8D@K<%$ <jg\Z`Xc :L8EK@8% @e[\k\id`eX[X F9A<KF ;< C8 ;<D8E;8$ I\Zk`]`ZXZ`Â?e [\ gXik`[X :8LJ8 Ef% ++*$(( <% GIF8zF GIFM@;<E:@8 ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# dXik\j () [\ 8Yi`c [\ )'((# cXj (._()%$ M@JKFJ%$8mfZf ZfefZ`$ d`\ekf [\ cX gi\j\ek\ ZXljX# \e d` ZXc`[X[ [\ Al\q K`klcXi [\ \jkX Al[`ZXkliX% CX [\dXe$ [X hl\ Xek\Z\[\ \j ZcXiX# Zfd$ gc\kX p i\Â’e\ cfj [\d}j i\hl`$ j`kfj [\ c\p% <e Zfej\Zl\eZ`X# Zˆk\j\ p Zl„ek\j\ \e \jkX ZXljX Zfe \c j\ÂŒfi A\]\ Gifm`eZ`Xc [\ I\^`jkif :`m`c# @[\ek`]`ZXZ`Â?e p :\[lcXZ`Â?e [\ G`Z_`eZ_X# X ]`e [\ hl\ cX Zfek\jk\ \e \c k„id`ef [\ ki\j [ˆXj# [\ j\i c\^Xcd\ek\ Z`kX[f% :l„ek\j\ Xjˆ d`jdf Zfe \c j\ÂŒfi 8^\ek\ =`jZXc ;`jki`kXc [\ G`Z_`eZ_X% GlYcˆhl\j\ gfi leX jfcX m\q \e lef [\ cfj [`Xi`fj [\ dXpfi Z`i$ ZlcXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf% 8^i„^l\j\ Xc gifZ\jf cfj [fZld\ekfj XZfdgXÂŒX[fj% K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f%$ EFK@=@HL<J<%$ EFK@=@HL<J<%$ ] ;i% IXÂ’c DXi`ÂŒf ?\ie}e[\q%$ Cf hl\ gfe^f \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf \e ^\e\iXc gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j% ;i% DXel\c 8dÂ?e D\[`eX J<:I<K8I@F ;<C ALQ>8;F JyGK@DF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0)''&k] <OKI8:KF E FK8 I c 8 K I @ > y J @ D 8 GI@D<I8 ;<C :8EKäE HL@KF1 :Â’dgc\d\ gfe\i \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf hl\ d\[`Xek\ \jZi`kliX gÂ’Yc`$ ZX# fkfi^X[X Xek\ cX ;fZkfiX DXi`\cX Gfqf 8ZfjkX% EfkXi`X Ki`^„j`dX Gi`d\iX [\c :XekÂ?e Hl`kf# \c el\m\ [\ 8Yi`c [\c )'('# cfj ZÂ?epl^\j j\ÂŒfi I@:8I;F >LJK8MF <EI@HL< I8DFJ p j\ÂŒfiX D8I@<C8 C8C8E>L@ 98C8I<QF# ZX[X lef gfi jlj gifg`fj p g\ijf$ eXc\j [\i\Z_fj# gifZ\[`\ife X c`hl`[Xi \c gXki`dfe`f [\ cX jfZ`\[X[ Zfepl^Xc [`jl\ckX d\[`Xek\ j\ek\eZ`X [\ [`mfi$ Z`f [\c j\ÂŒfi Al\q Hl`ekf [\ cf :`m`c [\ G`Z_`eZ_X# \c [`\Z`fZ_f [\ [`Z`\dYi\ [\c [fj d`c el\m\# dXi^`eX[X \e \c I\^`jkif :`m`c YXaf \c eÂ’d\if1 [fj d`c [`\q ki\j lef ki\j el\m\% Hl`kf ki\`ekX [\ j\gk`\dYi\ [\c [fj d`c [`\q%Z\d% CXj X[al[`ZXZ`fe\j [\c gXki`$ dfe`f j\ \eZl\ekiXe [\kXccX$ [Xj \e \c k\okf [\ cX i\]\i`[X \jZi`kliX gÂ’Yc`ZX [\ c`hl`[X$ Z`Â?e [\ jfZ`\[X[ Zfepl^Xc# gfi cf hl\ \e Xgc`ZXZ`Â?e X cf [`jgl\jkf \e \c 8ik% - [\ X C\p I\]fidXkfi`X X cX C\p EfkXi`Xc# glYc`ZX[X \e \c I\^`jkif F]`Z`Xc Ef% +'- [\ )/ [\ Efm`\dYi\ [\c )''-# hl\ X jl m\q i\]fidX \c 8ik% (/ [\ cX C\p EfkXi`Xc X^i\^Xe[f mXi`fj eld\iXc\j# \eki\ cfj ZlXc\j \c eld\iXc )* ]XZlckX Xc EfkXi`f [`jgfe\i cX `ejZi`gZ`Â?e \e cfj I\^`jkifj [\ cX Gifg`\[X[ p D\iZXek`c\j# cX \jZi`kliX [\ c`hl`[XZ`Â?e [\ jfZ`\[X[ Zfe$ pl^Xc# gi\m`f \c ki}d`k\ gi\m`j$ kf \e [`Z_X efidX c\^Xc# gfe^f

\e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# d\[`Xek\ leX glYc`ZXZ`Â?e# \c \okiXZkf [\ cX c`hl`[XZ`Â?e [\c gXki`dfe`f [\ cX jfZ`\[X[ Zfe$ pl^Xc Zfii\jgfe[`\ek\ X cfj \o ZÂ?epl^\j j\ÂŒfi I@:8I;F >LJK8MF <EI@HL< I8DFJ p j\ÂŒfiX D8I@<C8 C8C8E>L@ 98C8I<QF# fkfi^X[X d\[`Xe$ k\ \jZi`kliX gÂ’Yc`ZX [\ [`\Z`$ el\m\ [\ efm`\dYi\ [\c [fj d`c [`\q# Xek\ cX jljZi`kX ;fZkfiX DXi`\cX Gfqf 8ZfjkX# EfkXi`X Ki`^„j`dX Gi`d\iX [\c :XekÂ?e Hl`kf# gfi \c k„id`ef [\ m\`ek\ )' [ˆXj X ZfekXij\ [\j[\ cX ]\Z_X [\ cX glYc`ZX$ Z`Â?e [\ \jk\ \okiXZkf# X ]`e [\ hl\ cXj g\ijfeXj hl\ \m\eklXc$ d\ek\ klm`\i\e `ek\i„j \e \jkX c`hl`[XZ`Â?e gl\[Xe gi\j\ekXi jl fgfj`Z`Â?e ]le[Xd\ekX[X# [\ekif [\c i\]\i`[f k„id`ef% GXik`ZlcXi hl\ gfe^f \e Zfef$ Z`d`\ekf gXiX cfj ]`e\j c\^Xc\j Zfii\jgfe[`\ek\j% Hl`kf# ;`Z`\dYi\ (' [\@ )'('% ;I8% D8I@<C8 GFQF 8:FJK8 E FK8 I @ 8 K I @ > < J @ D 8 GI@D<I8 ;<C :8EKFE HL@KF ?Xp ]`idX p j\ccf 8:&.0(00&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 J\ gfe\ X ZfefZ`d`\ekf [\c gÂ’Yc`Zf cX glYc`ZXZ`Â?e [\ le \okiXZkf [\c :fdgiX M\ekX# fkfi^X[X gfi <D@C@8 >L8CC@:?@:F E8:8J?8 p fkifj# X ]Xmfi [\ =I8E:@J:F >L8CC@:?@::F z8:8J?8 p :C<D<E:@8 E8:@D98 DLzFQ AL@:@F <jg\Z`Xc$ @ejZi`gZ`Â?e [\ <jZi`kliX 8:KFI :c\d\eZ`X EXZ`dYX DlÂŒfq KI8D@K< <jg\Z`Xc :L8EKĂ 8 @e[\k\id`eX[X :8LJ8 (+',$)''0$AK:G$ GM$8C <OKI8:KF ;< C8 <J:I@KLI81 Ăˆ<e cX Z`l[X[ [\ JXe =iXeZ`jZf [\ Hl`kf# ;`jki`kf D\kifgfc`kXef# :Xg`kXc [\ cX I\glYc`ZX [\c <ZlX[fi# \c [ˆX [\ _fp Al\m\j [`\Z`j`\k\ [\ fZklYi\ [\c XÂŒf [fj d`c [fj# Xek\ d` ;F:KFI >LJK8MF = CF I < J L J : 8K <> L @ % EFK8I@F EFM<EF ;<C :8EKFE HL@KF p cfj k\j$ k`^fj hl\ jljZi`Y\e j\ÂŒf$ i\j 8L>LJKF IF;I@>L<Q E8M8J# ZXjX[f# 9PIFE I<E< IL8C<J :FI8C# jfc$ k\if #p AFI>< N8J?@E>KFE D@<I CFG<Q# ZXjX[f Zfd$ gXi\Z\e1 gfi leX gXik\ \e ZXc`[X[ [\ m\e[\[fi\j cX j\ÂŒfiX <D@C@8 >L8CC@:?@:F z8:J?8# m`l[X# ALC@8E8 >L8CC@:?@:F z8:8J?8# ZXjX[X# AL8E >L8CC@:?@:F z 8:8J ? 8 P D 8 I @ 8 KI8E:@KF >L8CC@:?@:F z8:8J?8 ZXjX[X# p gfi fkiX gXik\ \e ZXc`[X[ [\ ZfdgiX[f$ i\j cfj ZÂ?epl^\j =I8E:@J:F >L8CC@:?@:F E8:8J?8 P :C<D<E:@8 E8:@D98 kf[fj ZfdgXi\Z\e c`Yi\ p mfclekX$ i`Xd\ek\ p gfi jlj gifg`fj p Zfii\jgfe[`\ek\j [\i\Z_fj%$ Cfj ZfdgXi\Z`\ek\j jfe \ZlX$ kfi`Xefj# dXpfi\j [\ \[X[# [fd`Z`c`X[fj \e \jk\ ZXekÂ?e Hl`kf# c\^Xcd\ek\ ZXgXZ\j gXiX ZfekiXkXi p fYc`^Xij\# X hl`\e\j ZfefqZf [\ hl\ [fp ]\2 p [`Z\e1 Hl\ \c\m\ X \jZi`$ kliX gÂ’Yc`ZX \c Zfek\e`[f [\ cX d`elkX hl\ d\ \eki\^Xe # Zlpf c`k\iXc p hl\ kiXejZi`Yf X Zfek`elXZ`Â?e \j \c j`^l`\ek\1 Ăˆ J<zFI EFK8I@FÉ1 JˆimXj\ \c\mX X \jZi`kliX gÂ’Yc`ZX \ `ej\ikXi \e \c GifkfZfcf X jl ZXi^f leX [\ ZfdgiX m\ekX [\ [\i\Z_fj p XZZ`fe\j p XZZ`f$ e\j [\ le `edl\Yc\ Xc k\efi [\ cXj j`^l`\ek\j Zc}ljlcXj1 GI@D<IF :FEJ<EK@D@<EKF P :8G8:@;8;%%%%%%%J<>LE;F%$ :FDG8I<:@<EK<J%$ ZfdgX$ i\Z\e X cX Z\c\YiXZ`Â?e X cX Z\c\$ YiXZ`Â?e [\ cX gi\j\ek\ \jZi`kl$ iX [\ ZfdgiXm\ekX [\ le cfk\ [\ k\ii\ef j`klX[f \e \c MXcc\ [\ cfj :_`ccfj# YXii`f :l\e[`eX [\ cX gXiifhl`X [\ 8dX^lXÂŒX# ali`j[`ZZ`Â?e [\c ZXekÂ?e Hl`kf#

IeXh[ [b Wceh Âś7cWZe l[d[de fh[# fWhWZe feh bei |d][b[i ÂśB_Yeh gk[ c[ Z[lehW1 e^" bW l_ZW o bW ck[hj[ Z[ c_ YehWpÂŒd 9>7HB;I 87K:;B7?H; gifm`eZ`X [\ G`Z_`eZ_X%%%%%%%%%%%%# kf[f cf ZlXc j\ _X i\Xc`qX[f \e le`[X[ [\ XZkf [\ kf[f cf ZlXc [fp ]\%$ GIFM@;<E:@8 ĂˆALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8% Hl`kf# (0 [\ <e\if [\c )'('# cXj (+_)/%$ M@JKFJ1 LeX m\q hl\ j\ _X [X[f Zldgc`d`\ekf Zfe cf fi[\eX[f \e gifm`[\eZ`X `e`Z`Xc [`jgfe^f1 CX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ c\p# \e Zfej\Zl\eZ`X j\ cX X[d`k\ X ki}d`k\% :ˆk\j\ Xc I\^`jkiX[fi [\ cX Gifg`\[X[ [\ Hl`kf# \e \c cl^Xi `e[`ZX$ [f% :fe]fid\ [`jgfe\ \c 8ik% .'0 [\c :Â?[`^f :`m`c j\ [`j$ gfe\ glYc`ZXi le \okiXZkf [\ cX \jZi`kliX p \jkX gifm`[\e$ Z`X# gfi leX jfcX m\q# \e le g\i`Â?[`Zf [\ dXpfi Z`iZlcXZ`Â?e eXZ`feXc [\ `^lXc dXe\iX Zfe$ ]`„iXj\ cfj ZXik\c\j g\ik`e\ek\j gXiX cfj gXiXa\j dXj ZfeZl$ ii`[fj [\ cX =leZ`Â?e Al[`Z`Xc% 8^i„^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂŒX[X% Efk`]ˆhl\j\%$ ;i% NX^e\i 8iklif A}k`mX Hl`ifq% Al\q Jlgc\ek\% Cf hl\ Zfdle`Zf gXiX cfj ]`e\j [\ c\p% 8k\ekXd\ek\# ;i% Afi^\ GXcXZ`fj ?% J<:I<K8I@F ;<C ALQ>8;F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0(/0&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% :@K8:@FE AL;@:@8C 81 >CFI@8 D8I@8 GFQF >L<M8I8# ;< C8 ;<D8E;8 <JG<:@8C# HL< J@>L< <E JL :FEKI8 <C 89% M@:KFI 8EKFE@F M@CCFK8 <JG@EFQ8# GIF:LI8;FI AL;@:@8C P D8E;8K8I@F ;< I8D@IF N8CK<I C8JJF FKK p AL8E :8ICFJ ;< P:8Q8 8>L@II<# <E JLJ :8C@;8;<J ;< ><I<EK< ><E<I8C P ;@I<:KFI K@KLC8I I<JG<:K@M8D<EK< ;< C8 :FDG8zĂ 8 ;@JKI@9L@;FI8 ;@JG8:@= J%8% 8:KFI81 89% M@:KFI 8EKFE@F M@CCFK8 <JG@EFQ8# GIF:LI8;FI AL;@:@8C P D8E;8K8I@F ;< I8D@IF N8CK<I C8JJF FKK p AL8E :8ICFJ ;< P:8Q8 8>L@II<# <E JLJ :8C@;8;<J ;< ><I<EK< > < E < I 8 C P ;@I<:KFI K@KLC8I I<JG<:K@M8D<EK< ;< C8 :FDG8zĂ 8 ;@JKI@9L@;FI8 ;@JG8:@= J%8% ;<D8E;8;81 >CFI@8 D8I@8 GFQF >L<M8I8 KI8D@K<1 <JG<:@8C 8JLEKF1 @EJFCM<E:@8 AL@:@F Ef% (.*,$)'('$DJ% :L8EK@81 @E;<K<ID@E8;8 ;FD@:@C@F AL;@:@8C Ef% +-(* [\ cX ;iX% C`^`X AXe\k_ M`ccfkX M\iX GIFM@;<E:@81 ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# cle\j *( [\ \e\if [\c )'((# cXj (-_'0%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f%$ <e cf gi`e$ Z`gXc# cX [\dXe[X hl\ Xek\Z\$ [\ \j ZcXiX Zfdgc\kX p i\Â’e\ cfj [\d}j i\hl`j`kfj c\^Xc\j% ;\ cX [fZld\ekXZ`Â?e hl\ j\ XZfdgXÂŒX# j\ [\jgi\e[\ hl\ cX [\dXe[X[X j\ÂŒfiX GFQF >L<M8I8 >CFI@8 D8I@8# Zfe Z„[lcX [\ Z`l[X[XeˆX Ef% ('''0+'))$0# j\ _XccX Zfd$ gi\e[`[X \e cX j`klXZ`Â?e gi\j$ Zi`kX \e \c 8ik%,(0 [\c :Â?[`^f [\ GifZ\[`d`\ekfj :`m`c# gfi cf hl\ j\ gi\jld\ jl `ejfc$ m\eZ`X p j\ [\ZcXiX Zfe cl^Xi

Xc ZfeZlijf [\ XZi\\[fi\j# \e Zfej\Zl\eZ`X gifZ„[Xj\ X cX fZlgXZ`�e p [\g�j`kf [\ cfj Y`\e\j# c`Yifj# Zfii\jgfe[\e$ Z`X p [\d}j [fZld\ekfj [\c ]Xcc`[f# cfj d`jdfj hl\ j\i}e \eki\^X[fj Xc Jˆe[`Zf [\c Zfe$ Zlijf [fZkfi Afi^\ Cl`j DXZXj# Zfe hl`\e j\ ZfekXi} \e cX gi\$ j\ek\ ZXljX% ?}^Xj\ ZfefZ\i Xc g’Yc`Zf d\[`Xek\ glYc`ZX$ Z`fe\j \e lef [\ cfj [`Xi`fj [\ dXpfi Z`iZlcXZ`�e hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf% Hl\ j\ XZldlc\e kf[fj cfj al`$ Z`fj \e jl ZfekiX gfi fYc`^XZ`f$ e\j [\ [Xi l _XZ\i% J\ fi[\eX X[\d}j hl\ j\ i\d`kXe Zfg`Xj [\ kf[f cf XZklX[f X lef [\ cfj j\Œfi\j al\Z\j [\ cf g\eXc [\ G`Z_`eZ_X gXiX cX ZXc`]`ZXZ`�e [\ cX `ejfcm\eZ`X% Gif_ˆY\j\ X cX [\dXe[X[X Xlj\ekXij\ [\c gXˆj# fi[\e}e[fj\ hl\ \e \c k„id`ef [\ fZ_f [ˆXj gi\j\ek\ \c YXcXeZ\ [\ jlj Y`\e\j Zfe `e[`ZXZ`�e [\c XZk`mf p [\c gXj`mf% :fdf \c ]Xcc`[f hl\[X \e `ek\i[`ZZ`�e [\ X[d`e`jkiXi cfj Y`\e\j# efk`]ˆhl\j\ \c gXi$ k`ZlcXi X cfj j\Œfi\j% EfkXi`fj# I\^`jkiX[fi [\ cX Gifg`\[X[# X cfj ^\i\ek\j [\ cfj YXeZfj cfZXc\j# Xc j\Œfi ;`i\Zkfi [\ D`^iXZ`�e p <okiXea\iˆX# al\$ Z\j [\ cf Z`m`c% :’dgcXj\ Zfe cXj [`c`^\eZ`Xj g\ik`e\ek\j \e \jkX ZcXj\ [\ \eal`Z`Xd`\ekfj% CX [\dXe[X[X j`e \dYXi^f gf[i} fgfe\ij\ Xc ZfeZlijf# [\ekif [\ cfj ki\j [ˆXj [\ j\i Z`kX[f c\^Xcd\ek\# gX^Xe[f cX [\l[X f [`d`k`\e[f Y`\$ e\j \hl`mXc\ek\j% :ˆk\j\ X cX [\dXe[X[X \e \c cl^Xi hl\ j\ `e[`ZX%$ K�d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ŒXcX[f% 8^i„^l\ej\ cfj [fZld\ekfj XZfdgXŒX[fj%$ Efk`]ˆhl\j\%$ ] ;iX% D�e`ZX =cfi GXqd`Œf# Al\qX%$ ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# d`„iZfc\j *( [\ XYi`c [\c )'((# (-_(+%$ 8^i„^l\j\ Xc gifZ\jf \c \jZi`kf gi\j\ekX[f%$ 8k\ekX X cf jfc`Z`kX[f p [\ Zfe$ ]fid`[X[ Zfe \c aliXd\ekf i\e$ [`[f p cf gi\m`jkf \e \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# Zˆk\j\ X cX [\dXe[X[X j\ŒfiX >CFI@8 D8I@8 GFQF >L<M8I8# d\[`Xek\ ki\j glYc`ZXZ`fe\j [\ gi\ejX \e lef [\ cfj g\i`�[`Zfj [\ dXpfi Z`iZlcXZ`�e \[`kX[fj \e \jkX Z`l[X[ [\ Hl`kf%$ Efk`]ˆhl\j\%$ ] ;iX% D�e`ZX =cfi GXqd`Œf# Al\qX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`�e [\ j\ŒXcXi ZXj`ccX al[`Z`Xc# \e cX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# <ZlX[fi # gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ 8Y% DXi`f CXjjf Fik\^X J<:I<K8I@F ;<C ALQ>8;F M@><J@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp ]`idX p j\ccf 8:&.0(-/&k] I% [\c <% ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@FE AL;@:@8C G8I8 J<zFI AFI>< <;L8I;F Q8D9I8EF M8J:FE<Q < O K I 8 : K F AL@:@F1 M<I98C JLD8I@F EIF% ((+-$)''/$;I% :%D 8:KFI1 ;I% >FEQ8CF 9<E8C:8Q8I G8MFE <E JL :8C@;8; ;< GIF :LI8;FI AL;@:@8C ;<C 98E:F ;<C 8LJKIF J%8% ; < D 8 E ;8 ; F 1 A F I> < <;L8I;F Q8D9I8EF M8J:FE<Q F9A<KF G8>F GFI <C :FEJLDF ;< C8 K8IA<K8 ;< :I<;@KF D8JK<I:8I;

98E:F ;<C 8LJKIF J@>E8;8 :FE <C EIF% ,+**0 *')'()''''. GFI C8 :8EK@;8; ;< KI<J D@C :@<EKF KI<@EK8 P LE ;FC8I<J ;< CFJ <JK8;FJ LE@;FJ ;< EFIK<8D<I@:8 :FE F:?<EK8 P ;FJ :<EK8MFJ ;< ;FC8I :FE=FID< 8C <JK8;F ;< :L<EK8 :FIK8;F 8C ). ;< 8>FJKF ;<C )''/ <JKF <J <C :8G@K8C D8J CFJ @EK<I<J<J 8 C8 K8J8 D8O@D8 ;< @EK<I<J 8EL8C CFJ @EK<I<J<J ;< DFI8 <C @DGL<JKF ;<C ( 8;@:@FE8C 8 =8MFI ;< JFC:8 C8J :FJK8J G IF : <J8 C <J P CFJ ?FEFI8I@FJ G IF = <J @ F E 8 C <J ; < C 89F>8;F ;<=<EJFI% KI8D@K<1 M<I98C JLD8I@F : L8 E K @ 8 K I <J D @ C KI<J:@<EKFJ ;FC8I<J LJ; *%*''#ff :8J @ C C < IF A L ; @ : @ 8 C EIF%)))) G<IK<E<:@<EK< 8C ;I% > F E Q 8 CF 9<E8C:8Q8I GIFM@;<E:@81 ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# ', [\ Efm`\dYi\ [\c )''/# cXj '0_'*%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`ikl[ [\c jfik\f i\Xc`qX[f p \e ZXc`[X[ [\ Al\q Jlgc\ek\ d\[`Xek\ F]`Z`f Eif% '()$;;G$A8I [\c )+&'(&)'',%$ <e cf gi`eZ`gXc cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\’e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ [\ZcXi}e[fj\cX gifZ\[\ek\ j\ c\ X[d`k\ X kiXd`k\ M\iYXc JldXi`f gifgl\jkf%$ <e Zfe$ j\Zl\eZ`X# j\ [`jgfe\ Z`kXi Zfe \c Zfek\e`[f [\ cX [\dXe$ [X p gi\j\ek\ gifm`[\eZ`X Xc j\Œfi AFI>< <;L8I;F Q8D9I8EF M8J:FE<Q# \e \c cl^Xi j\ŒXcX[f gXiX \c \]\Zkf%$ ;\ Zfe]fid`[X[ Zfe cf [`jgl\jkf \e \c 8ik% 00) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c# [\j^c�j\j\ cX [fZld\ekXZ`�e X[alekX X cX [\dXe[X [\aXe[f ]fkf Zfg`Xj p i\Z`Yf \e Xlkfj X efdYi\ cX ;iX% Af_XeeX If[iˆ^l\q JXekfj%$K�d\j\ \e Zl\ekX cX ZlXekˆX p \c ZXj`$ cc\if al[`Z`Xc j\ŒXcX[f gfi \c ZfdgXi\Z`\ek\ \e jl ZXc`[X[ `emfZX[X gXiX jlj ]lkliXj efk`]`ZXZ`fe\j%$ :@K<J< p EFK@=@HL<J<% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q ALQ>8;F ;<:@DF GI@D<IF ;< CF :@M@C ;< G@:?@E:?8%$ HL@KF# '. [\ DXpf [\c)''0# cXj (,_)-%$ <e d„i`kf [\c aliX$ d\ekf i\e[`[f gfi \c 8Zkfi \e jl ZXc`[X[ `emfZX[X# jfYi\ cX `dgfj`Y`c`[X[ [\ [Xi Zfe \c [fd`Z`c`f [\c j\Œfi AFI>< <;L8I;F Q8D9I8EF M8J:FE<Q# j\ [`jgfe\ Z`kXi$ cf gfi cX gi\ejX \e lef [\ cfj g\i`�[`Zfj [\ Xdgc`X Z`iZl$ cXZ`�e eXZ`feXc# Zfe]fid\ cf [`jgfe\ \c 8ik% /) [\c :�[`^f [\ GifZ\[`d`\ekf :`m`c%$ :ˆk\j\ p Efk`]ˆhl\j\% = ;i% I\peXc[f =cfi 8cmXiX[f% Al\q j`^l\ cX efk`]`ZXZ`�e Cf hl\ cc\mf X jl ZfefZ`$ d`\ekf gXiX cfj ]`e\j [\ C\p% Gi\m`e`„e[fc\ [\ cX fYc`^XZ`�e hl\ k`\e\ [\ j\ŒXcXi ZXj`cc\if al[`Z`Xc gXiX jlj efk`]`ZXZ`fe\j gfjk\i`fi\j% :\ik`]`Zf% AlXeX :\mXccfj >% J<:I<K8I@8 ?Xp ]`idX p j\ccf 8:&.0(,.&k] ALQ>8;F M@>yJ@DF K<I:<IF ;< CF :@M@C ;< G@:?@E:?8 :@K8:@FE AL;@:@8C 8% D8I@8 FC@M8 K<F;FC@E8 9FIA8 :?8C8 8:KFI 1 ;@FD<;<J 8C:<@;<J D8EK<:8 :?8C8 ;<D8E;8;81 D8I@8 FC@M8 K<F;FC@E8 9FIA8 :?8C8 AL@:@F 1 M<I98C JLD8I@F E—)/$)%'(( ;I% C% :LI@CCF :8J @ C C < IF A L ; @ : @ 8 C E—+)-. =LE;8D<EKF C<>8C1 8IK% ((' :8LJ8C (( ;<C :F;@>F ;< :@M@C 89F>8;F1 ;I% AFJ< D8IDFC

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? :L8EK@81 @E;<K<ID@E8;8 GIFM@;<E:@81 8LKF ;< :8C@=@:8:@äE % ALQ>8;F M @ > y J @ D F K<I:<IF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# al\m\j * [\ dXiqf [\c )'((# cXj '0_*)%$ M@JKFJ%$ 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX \e m`i$ kl[ [\c jfik\f i\Xc`qX[f%$ Gfi ZlXekf \c XZkfi _X [X[f Zld$ gc`d`\ekf X cf fi[\eX[f \e gif$ m`[\eZ`X Xek\i`fi% CX [\dXe[X gi\j\ekX[X gfi1 ;@FD<;<J 8C:@;<J D8EK<:8 :?8C8# \j ZcXiX # i\Â’e\ cfj [\d}j i\hl`j`kfj [\ C\p p j\ cX X[d`k\ X ki}d`k\ m\iYXc jldXi`f gfi kXekf \e d„i`kf Xc aliXd\ekf i\e[`[f gfi \c XZZ`feXek\ p [\ Zfe]fid`[X[ Zfe cf [`jgl\jkf gfi \c 8ik%/) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c%$ :@K<J<# X cX [\dXe[X[X j\ÂŒfiX1 D8I@8 FC@M8 K<F;FC@E8 9FIA8 :?8C8# d\[`Xek\ ki\j glYc`$ ZXZ`fe\j gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ Xdgc`X Z`iZlcXZ`Â?e X e`m\c eXZ`feXc [\ cfj hl\ j\ \[`kXe \e \jkX Z`l[X[ [\ Hl`kf%$ 8^i„^l\j\ Xc gifZ\jf cX [fZld\ekXZ`Â?e hl\ j\ X[alekX %$ K„e^Xj\ \e Zl\e$ kX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f gfi \c XZkfi Xjˆ Zfdf cX Xlkfi`$ qXZ`Â?e Zfe]\i`[X X jl 8Yf^X[f ;\]\ejfi %$ Efk`]ˆhl\j\%$ ] ;i% =\c`g\ @e]Xek\ I\p% Al\q <eZXi^X[f% Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ C\p% C\ gi\m\e^f [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j% :\ik`]`Zf%$ 89% AFI>< D@<I 9LI98EF% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0(0,&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F M@><J@DF HL@EKF ;< CF :@M@C ;< G@:?@E:?8 J< GFE< <E :FEF:@D@<EKF ;<C GL9C@:F <E ><E<I8C HL< <E <JK8 AL;@:8KLI8 J< <JK8 KI8D@K8E;F <C J@>L@<EK< AL@:@F ;< @EJFCM<E:@8 8:KF I 1 8 9 F > 8 ; F MĂ :KFI 8EKFE@F M@CCFK8 <JG@EFJ8# <E JL :8C@;8; ;< G I F : L I 8 ; F I AL;@:@8C ;< C8 :FDG8zĂ 8 ;@JKI@9L@;FI8 ;@JG8:@= J%8 ;<D8E;8;81 @EyJ E8I:@J8 8E;@EF AĂ?:FD< AL@:@F1 @EJFCM<E:@8 :8LJ8 EF% (*/)$)'('$MJ KI8D@K<% <JG<:@8C :L8EK@81 @E;<K<ID@E8;8 89F>8;F1 ;I8% G8FC8 M@CCFK8 M<I8 ALQ>8;F M@><J@DF HL@EKF ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# cle\j ), [\ fZklYi\ [\c )'('# cXj (+_*0%$ M@JKFJ%$ <e Xk\eZ`Â?e Xc Zfek\$ e`[f [\c \jZi`kf gi\j\ekX[f gfi \c XZkfi# j\ ZXc`]`ZX cX [\dXe$ [X hl\ Xek\Z\[\ [\ ZcXiX# Zfdgc\kX# gi\Z`jX p i\Â’e\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ cX X[d`k\ Xc ki}d`k\ <jg\Z`Xc%$ ;\ cX [fZld\ekX$ Z`Â?e XgXi\aX[X gfi \c XZkfi# j\ [\jgi\e[\ hl\ cX j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# gfikX[fiX [\ cX Z„[lcX [\ Z`l[X[XeˆX Ef%(.((-/*(.,# j\ _XccX `ed\ijX \e cX [`jgfj`Z`Â?e [\c eld\iXc (— [\c 8ik% ,(0 [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# gfi cf hl\ j\ [\ZcXiX X cl^Xi \c ZfeZlijf [\ XZi\\[fi\j%$ <e Zfej\Zl\eZ`X# j\ fi[\eX cX gi}Zk`ZX [\ cXj j`^l`\ek\j [`c`^\eZ`Xj1 CX fZlgXZ`Â?e p [\gÂ?j`kf [\ cfj Y`\e\j# c`Yifj# Zfii\jgfe[\eZ`X p d}j [fZl$ d\ekfj [\ cX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# hl\ j\i}e \eki\^X$

ÄŠ

[fj Xc Jˆe[`Zf [\ Hl`\YiX ;i% 8ieXc[f =`Xccfj# hl`\e j\i} efk`]`ZX[f p gfj\j`feX[f \e c\^Xc ]fidX%$ Hl\ j\ XZldl$ c\ kf[fj cfj al`Z`fj j\^l`[fj \e ZfekiX [\ cX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# gfi cXj fYc`^XZ`fe\j [\ [Xi f _XZ\i# gl[`\e[f cfj XZi\\[fi\j _`gfk\ZXi`fj _XZ\i mXc\i jlj [\i\Z_fj gfi j\gXiX$ [f%$ J\ gif_ˆY\ X cX [\dXe[X$ [X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# Xlj\ekXij\ [\c cl^Xi [\c al`Z`f# j`e cX Xlkfi`qXZ`Â?e [\c Al\q hl\ ZfefZ\ cX ZXljX%$ Hl\ cX [\dXe[X[X gi\j\ek\ \c YXcXeZ\ [\ jlj Y`\e\j# Zfe cX `e[`ZXZ`Â?e [\c XZk`mf p gXj`mf# \e \c k„id`ef [\ fZ_f [ˆXj%$ Gfi J\Zi\kXi`X f]ˆZ`\j\ Xc j\ÂŒfi D`e`jkif =`jZXc [\ G`Z_`eZ_X# X ]`e [\ hl\ [`jgfe^X hl\ lef [\ cfj j\ÂŒfi\j =`jZXc\j `em\j$ k`^l\e \c gi\j\ek\ \jkX[f [\ @ejfcm\eZ`X [\ cX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\2 p# [\ \eZfekiXi jl]`$ Z`\ek\j d\i`kfj fi[\e\ hl\ le Al\q [\ cf G\eXc ZXc`]`hl\ \c \jkX[f [\ @ejfcm\eZ`X# gXiX \jkf X[aÂ’ek\j\ Zfg`Xj Z\ik`]`ZX[Xj [\ kf[f cf XZklX$ [f%$ CX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# hl\[X [\ _\Z_f \e `ek\i[`Z$ Z`Â?e [\ X[d`e`jkiXi jlj Y`\e\j# [\Y`„e[fj\ Zfdle`ZXi \jk\ gXik`ZlcXi Xc j\ÂŒfi :fekiXcfi >\e\iXc [\c <jkX[f# ;`i\Zkfi EXZ`feXc [\ D`^iXZ`Â?e p <okiXea\iˆX# Jlg\i`ek\e[\ek\ [\ 9XeZfj# X ]`e [\ hl\ _X^X ZfefZ\i [\ „jk\ gXik`ZlcXi X cXj @ejk`klZ`fe\j [\c J`jk\dX =`eXeZ`\if# EfkXiˆXj# I\^`jkif [\ cX Gifg`\[X[ p D\iZXek`c [\c :XekÂ?e# Jlg\i`ek\e[\ek\ [\ :fdgXŒˆXj# :}dXiXj [\ :fd\iZ`f p [\ cX Gif[lZZ`Â?e# Gi\j`[\ek\ [\c :fej\af EXZ`feXc <c\ZkfiXc2 p# :fd`j`Â?e EXZ`feXc [\c KiXejgfik\ K\ii\jki\# Ki}ej`kf p J\^li`[X[ M`Xc2 gXiX hl\ j\ XYjk\e^Xe [\ Z\c\YiXi Zfe$ kiXkfj f i\^`jkiXicfj \e jlj ZXjfj# c`d`kXe[f [\ Xc^Â’e df[f \c [fd`e`f [\ cfj Y`\e\j [\ cX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# gfi$ kX[fiX [\ cX Z„[lcX [\ Z`l[X$ [XeˆX Ef%(.((-/*(.,%$ ?}^Xj\ ZfefZ\i Xc gÂ’Yc`Zf \e ^\e\iXc le \okiXZkf [\ cX [\dXe[X p \c gi\j\ek\ 8lkf [\ ZXc`]`ZXZ`Â?e d\[`Xek\ glYc`ZXZ`Â?e \e lef [\ cfj [`Xi`fj [\ dXpfi Z`i$ ZlcXZ`Â?e [\ cX Z`l[X[%$ :ˆk\j\ X cX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# \e cX [`i\ZZ`Â?e hl\ j\ `e[`ZX# gXiX kXc \]\Zkf \emˆ\j\ \c jl]`Z`\e$ k\ [\jgXZ_f X cX F]`Z`eX [\ :`kXZ`fe\j% CX [\dXe[X[X j\ÂŒfiX @e„j EXiZ`jX 8e[`ef A}Zfd\# gf[i} fgfe\ij\ Xc gi\j\ek\ al`Z`f gX^Xe[f cf j\ÂŒXcX[f f [`d`k`\e[f Y`\$ e\j \hl`mXc\ek\j X cX [\l[X# \e \c k„id`ef [\ ki\j [ˆXj cl\^f [\ Z`kX[X%$ 8^i„^l\j\ X cfj Xlkfj cX [fZld\ekXZ`Â?e X[alekX2 kÂ?d\j\ efkX [\c ZXj`$ cc\if al[`Z`Xc j\ÂŒXcX[f gfi \c XZkfi gXiX i\Z`Y`i jlj efk`]`ZX$ Z`fe\j hl\ c\ Zfii\jgfe[Xe# Xjˆ Zfdf cX [\j`^eXZ`Â?e [\ jl XYf^X[f [\]\ejfi%$ :@K<J< P EFK@=@HL<J<% = % ;I% @M8E :<M8CCFJ Q8D9I8EF# AL<Q M@>yJ@DF HL@EKF ;< CF :@M@C ;< G@:?@E:?8% CF HL< :FDLE@:F 8 LJK<; G8I8 CFJ =@E<J ;< C<P# I<:FI;Ă?E;FC< C8 F9C@>8:@äE HL< K@<E< ;< J<z8C8I :8J@CC<IF AL;@:@8C <E <C CL>8I ;<C AL@:@F G8I8 I<:@9@I JLJ EFK@=@:8:@FE<J%$ HL@KF '. ;< 89I@C ;<C )'((%$ :<IK@=@:F ;i% Cl`j =\ieXe[f J\iiXef D\e\j\j

Ĺ? Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

Ä Ä€

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&.0(*'&k] I<GL9C@:8 ;<C <:L8;FI ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8 :@K8:@äE AL;@:@8C :ˆk\j\ Zfe \c j`^l`\ek\ \okiXZ$ kf [\ cX [\dXe[X X1 >CFI@8 E8E:P D8:8J :?@CCF>8CC@# Zlpf k\efi \j \c j`^l`\ek\1 8:KFI1 J8LC G8KI@:@F G <J8 E K < Q ? < I I < I8 # I\gi\j\ekXek\ C\^Xc [\ :fdgXŒˆX I\]i\jZfj p 9\Y`[Xj <ZlXkfi`XeXj J%8% ;<D8E;8;81 >CFI@8 E8E:P D8:8J :?@CCF>8CC@ :C8J< ;< AL@:@F1 FI;@E8I@F Ef% ''-($)'(($DC8 :L8EK@81 LE D@CCFE ;< ;FC8I<J GIFM@;<E:@8 ALQ>8;F J<>LE;F ;< CF :@M@C ;< G@:?@E:?8%$ Hl`kf# d`„iZfc\j ) [\ ]\Yi\if [\c )'((# cXj (,_)*%$ M@JKFJ1 8mfZf ZfefZ`d`\ekf [\ cX gi\$ j\ek\ ZXljX# \e m`ikl[ [\c jfi$ k\f i\Xc`qX[f p \e d` ZXc`[X[ [\ Al\q <eZXi^X[f d\[`Xek\ f]`Z`f Ef% (*'/$;G$;GG# [\ ]\Z_X . [\ alc`f [\c )'('%$ <e cf gi`eZ`gXc# cX [\dXe[X hl\ Xek\Z\[\ \j ZcXiX# gi\Z`jX p i\le\ cfj [\d}j i\hl`j`kfj [\ C\p# gfi cf hl\ j\ XZ\gkX \c ki}d`k\ Fi[`eXi`f# [\ Zfe$ ]fid`[X[ Zfe cf \jkXYc\Z`[f \e \c 8ik% *0, p j`^l`\ek\j [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# Zfe cX [\dXe[X p \jkX gifm`[\eZ`X# ZÂ?iiXj\ kiXjcX[f X cX [\dXe[X[X >CFI@8 E8E:P D8:8J :?@CCF>8CC@# gXiX hl\ Zfek\jk\ \e \c k„id`ef [\ hl`eZ\ [ˆXj f gifgfe^X \oZ\g$ Z`fe\j [`cXkfi`Xj f g\i\ekfi`Xj [\ cX hl\ j\ Zi\p\i\ Xj`jk`[X# YXaf Xg\iZ`Y`d`\ekf \e i\Y\c$ [ˆX%$ GXiX \c \]\Zkf# Zˆk\Z\cX gfi cX gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZl$ cXZ`Â?e hl\ j\ \[`kXe \e \jkX Z`l[X[# d\[`Xe[f \c k„id`ef [\ gfi cf d\efj fZ_f [ˆXj \eki\ leX p fkiX glYc`ZX$ Z`Â?e%$ K„e^Xj\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc [\j`^eX[f%$ 8^i„^l\j\ cX [fZld\ekXZ`Â?e hl\ j\ XZfdgXÂŒX%$ :Ă K<J< P EFK@=Ă HL<J<%$ ;I% =89I@:@F J<>FM@8 9<K8E:FLIK AL<Q <E:8I>8;F Cf hl\ Zfdle`Zf p c\ Z`kf X ljk\[ gXiX cfj ]`e\j c\^Xc\j Zfej`^l`\ek\j# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e hl\ k`\e\ [\ j\ÂŒXcXi [fd`Z`c`f al[`Z`Xc gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j \e \jkX al[`ZXkliX% :<IK@=@:F% ;I% AL8E >8CC8I;F H% J<:I<K8I@F ?Xp ]`idX p j\ccf 8:&./--0&k] I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8%

:@K8:@äE AL;@:@8C 81 @E>% <;N@E >FEQ8CF >FD<Q 8:FJK8# ><I<EK< ><E<I8C P I<GI<J<EK8EK< C<>8C ;< C8 :@8% HL8C@KP FLKJFLI:@E> HL8CFLK J%8%# HL< J@>L< <E JL :FEKI8 <C ;I% AFI>< <;L8I;F GFII8J M@CC8:à J# GIF:LI8;FI AL;@:@8C ;< D8I:F 8E@98C >L<IIFE <EI@HL<Q% 8:KF I 1 ; I% A F I> < <;L8I;F GFII8J M@CC8:à J# GIF:LI8;FI AL;@:@8C ;< D8I:F 8E@98C >L<IIFE <EI@HL<Q% ;<D8E;8;FJ1 @E>% <;N@E >FEQ8CF >äD<Q 8:FJK8# ><I<EK< ><E<I8C P I<GI<J<EK8EK< C<>8C ;< C8 :FDG8zà 8 HL8C@KP FLKJFLI:@E> HL8CFLK J%8%# 8C J<zFI C@ Q?FE>C@#

<E JL :8C@;8; ;< ><I<EK< ><E<I8C P I<GI<J<EK8EK< C<>8C ;< C8 :FDG8zĂ 8 9>G <:L8;FI :F J%8%2 P# 8C J<zFI M8CD D8EL<C <% Q8G8K<I I8DFJ# I<GI<J<EK8EK< C<>8C ;< C8 <DGI<J8 G<KIFGIF;L::@FE KIĂ?D@K<1 M<I98C JLD8I@F AL@:@F Ef% (*''$)'('$DJ% ;FD@:@C@F AL;@:@8C Ef% +.0' [\c ;i% Afi^\ GfiiXj M`ccXZ`j GIFM@;<E:@81 ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# al\m\j m\`ek`fZ_f [\ fZklYi\ [\c )'('# cXj (+_)'% M@JKFJ% 8mfZf ZfefZ`d`\ekf [\ cX gi\j\ek\ ZXljX# \e m`ikl[ [\c jfik\f i\Xc`qX[f% CX [\dXe$ [X hl\ Xek\Z\[\ \j ZcXiX# Zfd$ gc\kX p i\Â’e\ cfj [\d}j i\hl`$ j`kfj c\^Xc\j% <j gifZ\[\ek\ \c ki}d`k\ M\iYXc JldXi`f# \e Zfej\Zl\eZ`X \eki„^l\j\ Zfg`X [\ cX [\dXe[X p Xlkf [\ ZXc`]`ZXZ`Â?e X cfj [\dXe[X[fj j\ÂŒfi\j @e^% <[n`e >feqXcf >Â?d\q 8ZfjkX# >\i\ek\ >\e\iXc p I\gi\j\ekXek\ C\^Xc [\ cX ZfdgXŒˆX HL8C@KP FLKJFLI:@E> HL8CFLK J%8%# Xc j\ÂŒfi C` Q_fe^c`# \e jl ZXc`[X[ [\ >\i\ek\ >\e\iXc p I\gi\j\ekXek\ C\^Xc [\ cX ZfdgXŒˆX 9>G <:L8;FI :F J%8%2 p# Xc j\ÂŒfi MXcd DXel\c <% QXgXk\i IXdfj# I\gi\j\ekXek\ C\^Xc [\ cX <dgi\jX G<KIFGIF;L::@FE# \e cfj cl^Xi\j hl\ j\ `e[`ZXe \e cX [\dXe[X# gXiX cf ZlXc \emˆ\$ j\ jl]`Z`\ek\j [\jgXZ_f X cX JXcX [\ :`kXZ`fe\j%$ :l„ek\j\ kXdY`„e \e \jkX ZXljX Zfe \c j\ÂŒfi ;i% ;`\^f >XiZˆX :Xii`Â?e# GifZliX[fi >\e\iXc [\c <jkX[f%$ 8^i„^l\j\ cX [fZld\ekXZ`Â?e XZfdgXÂŒX[X% KÂ?d\j\ \e Zl\ekX \c ZXj`cc\if al[`Z`Xc j\ÂŒXcX[f% Efk`]ˆhl\j\%$ ] ;iX% DÂ?e`ZX =cfi GXqd`ÂŒf# Al\qX%$ ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8% HL@KF# cle\j (( [\ XYi`c [\c )'((# (-_)/%$ 8k\ekX X cf jfc`$ Z`kX[f \e \c \jZi`kf gi\j\ekX[f Zfe ]\Z_X )+ [\ ]\Yi\if [\c )'(( p [\ Zfe]fid`[X[ Zfe \c aliXd\ekf i\e[`[f p cf gi\m`jkf \e \c 8ik% /) [\c :Â?[`^f [\ GifZ\[`d`\ekf :`m`c# Zˆk\j\ X cX gXik\ [\dXe[X[X @e^% <[n`e >feqXcf >Â?d\q 8ZfjkX# >\i\ek\ >\e\iXc p i\gi\j\e$ kXek\ c\^Xc [\ cX :ˆX% HL8C@KP FLKJFLI:@E> HL8CFLK J%8%# d\[`Xek\ ki\j glYc`ZX$ Z`fe\j [\ gi\ejX \e lef [\ cfj g\i`Â?[`Zfj [\ dXpfi Z`iZl$ cXZ`Â?e \[`kX[fj \e \jkX Z`l[X[ [\ Hl`kf%$ Efk`]ˆhl\j\%$ ] ;iX% DÂ?e`ZX =cfi GXqd`ÂŒf# Al\qX%$ Cf hl\ Zfdle`Zf X ljk\[ gXiX cfj ]`e\j [\ c\p# gi\m`e`„e[fc\ [\ cX fYc`^XZ`Â?e [\ j\ÂŒXcXi ZXj`ccX al[`Z`Xc# \e cX Z`l[X[ [\ Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X# <ZlX[fi # gXiX gfjk\i`fi\j efk`]`ZXZ`fe\j%$ 8Y% DXi`f CXjjf Fik\^X J<:I<K8I@F ;<C ALQ>8;F M@>yJ@DF :L8IKF ;< CF :@M@C ;< G@:?@E:?8 ?Xp le j\ccf 8I&/)-(*&ZZ EFK8IĂ 8 M@>yJ@D8 :L8IK8 ;<C :8EKäE HL@KF 8M@JF ;< C@HL@;8:@äE ;< JF:@<;8; :FEPL>8C

:’dgc\d\ gfe\i \e ZfefZ`$ d`\ekf [\c g’Yc`Zf \e ^\e\$ iXc hl\ d\[`Xek\ \jZi`kliX g’Yc`ZX fkfi^X[X \ek\ d`# \c )/ [\ dXiqf [\c )'((# cfj j\Œfi\j 9PIFE >FEQ8CF J8E:?<Q 8I9FC<;8 p C@;@:< 9<I<E@:< K@EF:F B@I9P# Zfem`e`\ife cX c`hl`[X$ Z`�e [\ cX jfZ`\[X[ Zfepl^Xc hl\ k\eˆXe ]fidX[X% <c gXki`$ dfe`f hl\ j\ c`hl`[X Zfd$ gi\e[\ cfj j`^l`\ek\j Y`\e\j1

Ĺ?

(%$ ;\gXikXd\ekf LEF$-'(# Xc hl\ c\ Zfii\jgfe[\ cX cXmXe$ [\iˆX eÂ’d\if ;@<:@F:?F# gXihl\X[\ifj :@E:L<EK8 P F:?F p :@<EKF F:?<EK8 P EL<M< p Yf[\^X :@E:L<EK8 P LEF hl\ ]fidXe gXik\ [\c :fealekf I\j`[\eZ`Xc CX 8c_XdYiX2 )%$ Le m\_ˆZlcf B`X# k`gf J\[Xe# XÂŒf )'',# df[\cf :Xi\ej . G8J )%'C# gXˆj [\ fi`^\e :fi\X# dfkfi eÂ’d\if >+>:+?*'')+*# Zfcfi ^i`j# Z_Xj`j eÂ’d\if BE8=:,)-(,,*.0(,/# GcXZXj GAM$',-,2 *%$ LJ; ('%/''#''%$ Cf hl\ Zfdle`Zf Xc gÂ’Yc`Zf \e ^\e\iXc X ]`e [\ hl\ cXj g\ijfeXj hl\ \m\eklXcd\e$ k\ klm`\i\e `ek\i„j \e \jkX c`hl`[XZ`Â?e gl\[Xe gi\j\ekXi jl fgfj`Z`Â?e ]le[Xd\ekX[X# [\ekif [\c k„id`ef [\ m\`ek\ )' [ˆXj X ZfekXij\ [\j[\ cX ]\Z_X [\ cX glYc`ZXZ`Â?e [\ \jk\ \okiXZkf% GXik`ZlcXi hl\ gfe^f \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf gXiX cfj ]`e\j c\^Xc\j Zfii\j$ gfe[`\ek\j% Hl`kf# XYi`c )' [\c )'((% ;I% J<98JK@8E M8C;@M@<JF :L<M8 EFK8I@F M@>yJ@DF :L8IKF ;<C :8EKäE HL@KF 8I&/)-+'&ZZ C8 I<Gè9C@:8 ;<C <:L8;FI ALQ>8;F ;y:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8 <OKI8:KF AL@:@F M<I98C JLD8I@F Ef% /,$)'((% 8:KFI1 ;@E8 M@I>@E@8 ?<IDFJ8 <I8QF P <;>8I :I@JKä98C ?<IDFJ8 D<E8 ; < D 8 E ;8 ; F 1 M Ă :KF I I@:8I;F 8JKL;@CCF :L<M8# >CFI@8 M@I>@E@8 :8C;<IäE 9<ID<F# D@I<P8 CL:@8 ?@;8C>F 8JKL;@CCF P :8ICFJ <EI@HL< ?@;8C>F 8JKL;@CCF :L8EKĂ 81 @E;<K<ID@E8;8 L9@:8:@äE1 98II@F <C IFJ8I@F# G8IIFHL@8 C8 <JG<I8EQ8# :8EKäE G<;IF DFE:8PF# GIFM@E:@8 ;< G@:?@E:?8%$ :FE LE8 <OK<EJ@äE 8GIFO@D8;8 ;< ).%-'' D) GIFM@;<E:@81 ALQ>8;F ;y:@DF J<OKF ;< CF :@M@C ;< G@:?@E:?8%$ KXYXZle[f X (* [\ 8Yi`c )'(( X cXj ('1?(,% M@JKFJ1 :fe \c \jZi`kf gi\j\ekX[f%$ CX [\dXe$ [X \j ZcXiX# gi\Z`jX# Zfdgc\kX p

I_d iWX[hbe" Z[jh|i Z[ bW \[b_Y_ZWZ lWcei f[hi_]k_[dZe bW ck[hj[" gk[ [i [b c[`eh WdWb]ƒi_Ye$ C7DK;B L?9;DJ

i\Â’e\ cfj i\hl`j`kfj [\ C\p# gfi cf hl\ j\ c\ X[d`k\ Xc ki}d`$ k\ m\iYXc jldXi`f%$ 8k\ekf \c aliXd\ekf \e XZkX gi\Z\[\e$ k\# Zˆk\j\ Zfe cX [\dXe[X p \jk\ Xlkf X cfj j\ÂŒfi\j1 MˆZkfi I`ZXi[f 8jkl[`ccf :l\mX# >cfi`X M`i^`e`X :Xc[\iÂ?e 9\id\f# D`i\pX ClZ`X ?`[Xc^f 8jkl[`ccf p :Xicfj <ei`hl\ ?`[Xc^f 8jkl[`ccf# gfi glYc`$ ZXZ`fe\j \e le [`Xi`f [\ dXpfi Z`iZlcXZ`Â?e%$ K„e^Xj\ \e Zl\e$ kX cX Xlkfi`qXZ`Â?e Zfe]\i`[X gfi cfj XZZ`feXek\j X jl XYf^X[f [\]\ejfi p \c ZXj`cc\if al[`Z`Xc [\j`^eX[f gXiX i\Z`Y`i jlj efk`]`ZXZ`fe\j%$ @ejZiˆYXj\ \jkX [\dXe[X \e \c I\^`jkif [\ cX gifg`\[X[ [\c ZXekÂ?e%$ ?}^Xj\ jXY\i%$ ;iX% 8eX @eki`X^f Al\qX ;„Z`df J\okf [\ cf :`m`c [\ = %$ ;I8% 8E8 @EKI@8>F ;< JFKF% Cf hl\ Z`kf X ljk\[ gi\m`$ e`„e[fc\ [\ cX fYc`^XZ`Â?e [\ j\ÂŒXcXi ZXj`cc\if al[`Z`Xc gXiX i\Z`Y`i ]lkliXj efk`]`ZXZ`fe\j% KXYXZle[f# (/ [\ dXiqf [\c XÂŒf )'((% :\ik`]`Zf% CZ[f% <[lXi[f D`Z_`c\eX M% J<:I<K8I@F <E:8I>8;F ;<C ALQ>8;F ;y:@DF J<OKF ;< CF :@M@C G@:?@E:?8% ?Xp le j\ccf 8I&/)-'*&ZZ <OKI8:KF ;< C@HL@;8:@äE ;< JF:@<;8; :FEPL>8C

J\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf \e ^\e\iXc# p [\ dXe\$ iX \jg\Z`Xc X hl`\e k\e^X `ek\$ i„j# hl\ j\ mX X gifZ\[\i X cX `ejZi`gZ`�e [\ cX c`hl`[XZ`�e [\ cX jfZ`\[X[ Zfepl^Xc ]fidX[X \eki\ \c j\Œfi J@DFE 9FC@M8I K<I8E 8IK<8>8 p cX j\Œf$ iX 8E8 D8I@8 JFC8EF ;< C8 J8C8 KFII<J# d\[`Xek\ Zfem\e`f Z\c\YiX[f gfi \jZi`$ kliX g’Yc`ZX fkfi^X[X Xek\ \c EfkXi`f ;„Z`df Hl`ekf [\c :Xek�e Hl`kf# \c [ˆX [`\q p fZ_f [\ 8Yi`c [\c [fj d`c feZ\# p hl\ Zfdgi\e[\ cX ZXjX Ef% ( p \c }i\X [\ ljf \oZclj`mf [\jk`eX$

[X gXiX ^XiX^\ p aXi[ˆe# j`klX$ [X \e \c :fealekf I\j`[\eZ`Xc Ăˆ<c GfikÂ?eÉ# [\ cX gXiifhl`X :fkfZfccXf# :XekÂ?e Hl`kf# Gifm`eZ`X [\ G`Z_`eZ_X2 p [\c m\_ˆZlcf dXiZX :_\mifc\k# df[\cf 8m\f 8Zk`mf (%+ C + JK;% Hl`\e k\e^X `ek\i„j# p [\ j\i \c ZXjf# gf[i} fgfe\ij\ \e \c k„id`ef [\ m\`ek\ )' [ˆXj# ZfekX[fj [\j[\ \jkX glYc`ZXZ`Â?e% ;I% 8EKFE@F M8:8 IL@CFM8 EFK8I@F ;y:@DF HL@EKF ;<C :8EKäE HL@KF 8I&/)-+.&ZZ

8ELC8:@FE<J

BANCO PICHINCHA HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (/)) [\ cX :kX% :k\% Ef% **/+,/*.'+ g\ik\e\Z`\ek\ X >FEQ8C<Q <JG@E# <DD8$ D8>;8C<E8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ( d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (,)' Xc ' mXcfi ' [\ cX :kX% :k\% Ef% *)+0*(--'+g\ik\e\Z`\e$ k\ X G<;@8D<; :@8 CK;8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (,)( Xc (-)' [\ cX :kX% :k\% Ef% *)+0*(--'+ g\ik\e\Z`\e$ k\ X G<;@8D<; :@8 CK;8 [\c

SEGUNDA CONVOCATORIA A JUNTA GENERAL EXTRAORDINARIA DE SOCIOS DE LA COMPAĂ‘Ă?A, VANDERBILT ECUATORIANA CIA. LTDA. No habiĂŠndose reunido el quĂłrum legal establecido para la JUNTA GENERAL ORDINARIA DE LA COMPAĂ‘Ă?A a celebrarse el 31 de marzo de 2011, a las 10:00 horas, en el local de la compaùía, conforme la razĂłn sentada, y conforme lo establecido en el artĂ­culo dĂŠcimo sĂŠptimo de los Estatutos Sociales de la Compaùía y las disposiciones de la Ley de Compaùías se llama en segunda convocatoria a todos los socios de la Compaùía VANDERBILT ECUATORIANA CIA. LTDA., a la Junta General Extraordinaria a celebrarse el dĂ­a 29 de abril de 2011, a las 10 horas, en el domicilio de la compaùía ubicado en el inmueble que se encuentra en la Avenida 10 de Agosto N 44-34 y RĂ­o Coca de la ciudad de Quito, para tratar el siguiente orden del dĂ­a: 1.2.3.-

Conocimiento y aprobaciĂłn del Informe del Gerente por el ejercicio econĂłmico 2010. Conocimiento y aprobaciĂłn del Balance General y Estado de PĂŠrdidas y Ganancias del ejercicio econĂłmico 2010. Asuntos Varios.

Se comunica a los socios que por tratarse de segunda convocatoria, la Junta General Ordinaria, se llevarå a cabo con el número de socios asistentes, en cuyo caso las resoluciones se tomarån por simple mayoría de votos cualquiera que fuere la proporción del capital representado, salvo que la Ley exija una mayoría mås elevada. Los Balances, Estado de PÊrdidas y Ganancias y todos los documentos contables correspondientes al ejercicio económico 2010, se encuentran a disposición de los seùores socios, en el local de la Compaùía ubicado en la Avenida 10 de Agosto Nro. 44-34 y Río Coca de la ciudad de Quito. Quito, a 20 de abril de 2011. Patricio Torres Peùa GERENTE.

9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& * d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef )((,$ )((-$)((0$)()($)()+ Xc )(+0 [\ cX :kX% :k\% Ef% *'-*.(.('+ g\ik\e\Z`\ek\ X <>L@>LI<E C<FE# CL@J$8C=FEJF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& + d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef )(,' Xc )(.0 [\ cX :kX% :k\% Ef% *'-*.(.('+ g\ik\e\$ Z`\ek\ X <>L@>LI<E C<FE# CL@J$8C=FEJF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& , d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef )(/' Xc )(0' [\ cX :kX% :k\% Ef% *'-*.(.('+ g\ik\e\$ Z`\ek\ X <>L@>LI<E C<FE# CL@J$8C=FEJF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& - d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ..'( mXcfi )'' [\ cX :kX% :k\% Ef% *'./,-,,'+ g\ik\e\Z`\e$ k\ X :8C8?FII8EF # 8E8$ CL:@8 [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& . d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef .'( [\ cX :kX% :k\% Ef% *).+,/.('+ g\ik\e\Z`\ek\ X

@E:@E<I8:@FE I<J@;LFJ KFO@:FJ G<C@>IFJFJ [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& / d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef .../$../' Xc ../( [\ cX :kX% :k\% Ef% *'().')('+ g\ik\$ e\Z`\ek\ X >FIK8@I< >8D<# D8I@8$8E><C<J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& 0 d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *.( mXcfi ((' [\ cX :kX% :k\% Ef% *+''-)).'+ g\ik\e\Z`\ek\ X <:?<M<II@8 M8C<EQL<C8# D8I@8$@J89<C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (' d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ('* mXcfi *,' [\ cX :kX% :k\% Ef% *+/0,0,*'+ g\ik\e\$ Z`\ek\ X BELK? >FEQ8C<Q# 8E;I<J$8EKFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ),,. Xc ),.' [\ cX :kX% :k\% Ef% *'+0/'-,'+ g\ik\e\$ Z`\ek\ X >LQD8E <E;8I8# J8EK@8>F$=<;<I@:F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& () d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\

CONVOCATORIA A LA JUNTA GENERAL ORDINARIA DE ACCIONISTAS DE LA COMPAĂ‘Ă?A DISNAC S.A. En cumplimiento de las disposiciones legales y estatutarias vigentes, se convoca a los seĂąores Accionistas de la Compaùía DISNAC S.A., a la Junta General Ordinaria, que se celebrarĂĄ el dĂ­a 29 de abril del presente aĂąo, a las 10H00, en el local de la Compaùía, ubicado en la Av. Galo Plaza Lasso No. No. 74-69 y Antonio Pesantes, en el Distrito Metropolitano de Quito, CantĂłn Quito. Se convoca de manera expresa al Comisario de la Compaùía, seĂąor PATRICIO CRAUZAS. La Junta conocerĂĄ y desarrollarĂĄ el siguiente ORDEN DEL DIA.1.- Lectura y aprobaciĂłn del informe del Gerente General, correspondiente al ejercicio econĂłmico del 2010. 2.- Lectura y aprobaciĂłn del informe del Comisario, correspondiente al ejercicio econĂłmico del 2010. 3.- AprobaciĂłn del informe de auditorĂ­a externa. RatificaciĂłn de su nombramiento. 4.- Conocimiento y resoluciĂłn de los balances correspondientes al ejercicio econĂłmico del 2010. 5.- Nombramiento de Comisario y de auditores externos. Quito, GLORIA DORADO M. Presidente

A.P./48914/k.m.

Ef .+' [\ cX :kX% :k\% Ef% *++.+.'('+ g\ik\e\Z`\ek\ X 8:898;FJ ;< =8EK8J@8 G@EKF 8=8G@E :@8% C [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ,)( Xc ,/' [\ cX :kX% :k\% Ef% *'0')(.)'+ g\ik\e\$ Z`\ek\ X :F9FJ FI;FE<Q# A8@D<$DF;<JKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +,' Xc +-' [\ cX :kX% :k\% Ef% *(.-(,,0'+ g\ik\e\$ Z`\ek\ X JL8I<Q E8I8EAF# AL8E$8EKFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef **'. [\ cX :kX% :k\% Ef% *'-0(--0'+ g\ik\e\Z`\ek\ X >L<M8I8 8CM8I8;F P 8JF:@8;FJ :@8% CK;8% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +)/ [\ cX :kX% :k\% Ef% *'+/,+,-'+ g\ik\e\Z`\e$ k\ X 8CKLE8 8>L@C<I8# N8J?@E>KFE$8IKLIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (. d^ 444444

CARLOS A. JARAMILLO H. Gerente General A.P./48908/k.m.

HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +)0 [\ cX :kX% :k\% Ef% *'+/,+,-'+ g\ik\e\Z`\e$ k\ X 8CKLE8 8>L@C<I8# N8J?@E>KFE$8IKLIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (/ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +*' [\ cX :kX% :k\% Ef% *'+/,+,-'+ g\ik\e\Z`\e$ k\ X 8CKLE8 8>L@C<I8# N8J?@E>KFE$8IKLIF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& (0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (,, Xc (,- [\ cX :kX% :k\% Ef% *+*,.0-('+ g\ik\e\$ Z`\ek\ X Q8D9I8EF DFI8# DFE@:8$;FCFI<J [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )' d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +)('( mXcfi ...#0' [\ cX :kX% :k\% Ef% *'*.*./+'+ g\ik\e\Z`\ek\ X D<;@:@E8 GI<G8>8;8 :ILQ9C8E:8 J%8% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX

glYc`ZXZ`�e% 8:& )( d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef +-)' mXcfi (-#-0 [\ cX :kX% :k\% Ef% *',+)*,-'+ g\ik\e\Z`\ek\ X 899 <:L8;FI J%8% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )) d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ,** mXcfi *' [\ cX :kX% :k\% Ef% *(0')'-*'+ g\ik\e\$ Z`\ek\ X A@D<E<Q ?<II<I8# >@E@8$JFC8E>< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )* d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (/.) mXcfi *(*#'0 [\ cX :kX% :k\% Ef% *++,*(/('+g\i$ k\e\Z`\ek\ X IF;I@>L<Q DFI<EF# AFI><$<EI@HL< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& )+ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ),0. Xc )-'' [\ cX :kX% :k\% Ef% *),,)(-+'+ g\ik\e\Z`\ek\ X IFJ8;F :<M8CCFJ# AFI><$ I8DFE [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i}

i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ), d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef +,0 Xc +/' [\ cX :kX% :k\% Ef% **,/'+,/'+ g\ik\e\$ Z`\ek\ X :F9FJ :L:8CFE# CL@J$8C=FEJF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )- d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef *). Xc **' [\ cX :kX% :k\% Ef% *+-))+*,'+ g\ik\e\Z`\ek\ X :?@I@9F>8 8E>LCF#;@8E8$ 8JLE:@FE [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ). d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -,0 mXcfi *'' [\ cX :kX% :k\% Ef% **,0'0+)'+ g\ik\e\Z`\e$ k\ X =I<@I< D8C;FE8;F# A8@D<$G8KI@:@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )/ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef /*+/ mXcfi ))0,#(+ [\ cX :kX% :k\% Ef% **.(0**0'+ g\ik\e\Z`\e$ k\ X D<>8M<?@:LCFJ J%8% [\c

SURPERINTENDENCIA DE COMPAĂ‘Ă?AS RESOLUCIĂ“N No. SC.ICI.DAI.Q.11.071. 007 Dr. Camilo Valdivieso Cueva INTENDENTE DE COMPAĂ‘Ă?AS DE QUITO CONSIDERANDO: QUE, el ArtĂ­culo 318 de la Ley de Compaùías, establece la obligatoriedad para ciertas empresas de contar con informe anual de auditorĂ­a externa, y confiĂł a la Superintendencia la funciĂłn de calificar a las personas naturales o jurĂ­dicas que ejerzan la auditorĂ­a externa; QUE, mediante ResoluciĂłn nĂşmero 02.Q.ICI.007 de 23 de abril del 2002, la Superintendencia de Compaùías expidiĂł las normas para la calificaciĂłn y registro de auditores externos; QUE, la compaùía AUDITORIA Y GESTION LEGAL, CATELEG CIA. LTDA., ha cumplido con los requisitos establecidos en la ResoluciĂłn referida en el considerando anterior, lo cual ha sido corroborado por el seĂąor Intendente de Control e IntervenciĂłn, mediante Informe No. 006 de 06 de abril del 2011; y, EN ejercicio de las atribuciones asignadas mediante Resoluciones Nos. ADM.Q.2011.002 de 17 de enero de 2011 y SC-IAF-DRH-G2011-189 de 16 de marzo de 2011; RESUELVE: ARTĂ?CULO PRIMERO.- CALIFICAR a la compaùía AUDITORIA Y GESTION LEGAL, CATELEG CIA. LTDA., para que pueda ejercer la auditorĂ­a externa en las empresas seĂąaladas en la Ley de Compaùías y en las resoluciones pertinentes, por el perĂ­odo de cinco aĂąos contado a partir de la emisiĂłn de la presente ResoluciĂłn. ARTĂ?CULO SEGUNDO.- DISPONER que la compaùía AUDITORIA Y GESTION LEGAL, CATELEG CIA. LTDA., publique por una sola vez la presente ResoluciĂłn en uno de los periĂłdicos de mayor circulaciĂłn de su domicilio. Un ejemplar de la publicaciĂłn deberĂĄ entregarse a la Superintendencia de Compaùías. ARTĂ?CULO TERCERO.- DISPONER que SecretarĂ­a General de esta Superintendencia inscriba a la compaùía AUDITORIA Y GESTION LEGAL, CATELEG CIA. LTDA., en el Registro Nacional de Auditores Externos. El correspondiente certificado de inscripciĂłn se otorgarĂĄ una vez que se haya cumplido con el requisito establecido en el artĂ­culo anterior. COMUNIQUESE.- DADA y firmada en la Intendencia de Compaùías de Quito, Distrito Metropolitano, a 15 ABR 2011 Dr. Camilo Valdivieso Cueva INTENDENTE DE COMPAĂ‘Ă?AS DE QUITO A.P./48917/k.m.

IebWc[dj[ YedeY[ [b Wceh gk_[d WcW i_d [if[hWdpW$ @E>7DD 9>H?IJEF> <H?;:H?9> LED I 9 > ? B B ; H $ 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& )0 d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef -+( Xc -.' [\ cX :kX% :k\% Ef% *'..0(/''+ g\i$ k\e\Z`\ek\ X 89<E;8EF 9LIE<F# JFC<;8; [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *' d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (('(+' mXcfi */+-#(' [\ cX :kX% :k\% Ef% *'.,.0)0'+ g\ik\$ e\Z`\ek\ X >CF98C:IFJJ@E> :FDLE@:8:@FE<J <:L8;FI J% [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& *( d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ()). mXcfi (-, [\ cX :kX% :k\% Ef% **-.-)*0'+ g\ik\e\Z`\e$ k\ X FJ:LCCF JLHL@CCF# AFJ<$8EKFE@F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *) d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *-.* mXcfi *',#, [\ cX :kX%

:k\% Ef% ***/'-+-'+ g\ik\$ e\Z`\ek\ X I@FJ :FI;FM8# :8ICFJ$8C9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ** d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef *-.+ mXcfi 0/#0( [\ cX :kX% :k\% Ef% ***/'-+-'+ g\ik\$ e\Z`\ek\ X I@FJ :FI;FM8# :8ICFJ$8C9<IKF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *+ d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ((+($((++$((+,$((,-$((--$ ((/*$((/+$()''$()'($()'*$ ()(0$())'$())+$()),$())-$ ()).$())/$())0$()*'$()** [\ cX :kX% :k\% Ef% *+*(*0(('+ g\ik\e\Z`\ek\ X 98;@CCF 9FE@CC8# 8E8$D@C< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *, d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef ()+($()+-$()+0$()-($()-0$ ().'$().($().*$()/'$()/)$ (*()$(*)+$(*),$(*)-$(***$ (**+$(**,$(**.$(**0 Xc (*+' [\ cX :kX% :k\% Ef% *+*(*0(('+ g\ik\e\Z`\ek\ X 98;@CCF 9FE@CC8# 8E8$D@C< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X

REPUBLICA DEL ECUADOR SUPERINTENDENCIA DE COMPAĂ‘IAS

EXTRACTO CONSTITUCION DE PROLUBRICAR CIA. LTDA.. PROLUBRICAR CIA. LTDA. se constituyó por escritura pública otorgada ante el Notario DÊcimo Noveno del cantón Quito, el 7 de Abril de 2011, fue aprobada por la Superintendencia de Compaùías, mediante Resolución No. SC.IJ. DJC.Q.11.001738 de 19 de Abril de 2011.

[\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *- d^ 444444 HL<;8 8ELC8;F Gfi G<I;@;8 [\c :_\hl\ Ef (*+)$(*++$(*+,$(*+-$(*+.$ (*+0$(*,'$(*,($(*,)$(*,*$ (*,+$(*,,$(*,-$(*,.$(*,/$ (*,0$(*-'$(*-($(*-)$(*-+ Xc (*.+ [\ cX :kX% :k\% Ef% *+*(*0(('+ g\ik\e\Z`\ek\ X 98;@CCF 9FE@CC8# 8E8$ D@C< [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& *. d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef -00 [\ cX :kX% :k\% Ef% **+/'**,'+ g\ik\e\Z`\ek\ X <J:F98I :8JKIF#9PIFE$D8I:<CF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& */ d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef )+' [\ cX :kX% :k\% Ef% *+((+,00'+ g\ik\e\Z`\ek\ X <J:F98I :8JKIF#9PIFE$D8I:<CF [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:& *0 d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef 0/''-( Xc 0/'(-' [\ cX :kX% :k\% Ef% *'.(.0'-'+ g\i$ k\e\Z`\ek\ X :?<:8 IFE# =<C@O$=<IE8E;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +' d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef (.-( Xc (/-' [\ cX :kX% :k\% Ef% *'.(.0'-'+ g\ik\$ e\Z`\ek\ X :?<:8 IFE# =<C@O$=<IE8E;F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +( d^ 444444 HL<;8 8ELC8;F Gfi IF9F [\c :_\hl\ Ef ()/' mXcfi ,+-#(, [\ cX :kX% :k\% Ef% *+)-)0*('+ g\ik\$ e\Z`\ek\ X CFG<Q 8:?@># IFE8C$J8EK@8>F [\c 9XeZf G`Z_`eZ_X% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj -' [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& +) d^

1.- DOMICILIO: Distrito Metropolitano de Quito, provincia de PICHINCHA. 2.- CAPITAL: Suscrito US$ 200.000,00, nĂşmero de participaciones: 200, valor US$ 1.000,00 cada una. 3.- OBJETO: El objeto de la compaùía es: LA PRESTACIĂ“N, DISTRIBUCIĂ“N, COMERCIALIZACIĂ“N DE LUBRICANTES (ACEITES Y GRASAS); PARA LOS SECTORES AUTOMOTRIZ, INDUSTRIAL Y ESPECIALES,... 4.- REPRESENTACIĂ“N LEGAL.- LA REPRESENTACIĂ“N LEGAL, JUDICIAL Y EXTRAJUDICIAL DE LA COMPAĂ‘Ă?A LA EJERCERĂ EL GERENTE. Quito, 19 de Abril de 2011. Dr. Camilo Valdivieso Cueva INTENDENTE DE COMPAĂ‘Ă?AS DE QUITO A.P./48918/k.m.

COOPROGRESO ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '(('++0-() [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X ?<II<I8 >I8E;8 D8I@8 CL@J8 j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&(',0(& ( d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-(''.,.'' [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M8JHL<Q HL@C@D98 D@I@8D <JK<C8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&(',0+& ) d^

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ? 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-'()*,0+' [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 8C9LA8 KF98I <C@Q89<K? ;< C8J D<I:<;<J j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&(',0,& * d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '(('',/*)+ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M<>8 >L8D98 <;@JFE I8LC j\ gifZ\[\i} X XelcXi$ cX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZl$ d\ekf cfj i\ZcXd\% 8:&(',0-& + d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-'()**--. p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '-'.('0-'' [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X =L<I<Q 9<CKI8E D8I:@8 M<IFE@:8 j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&(',0.& , d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-''''+-+) [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X :FP8>F 8E;8>FP8 AL9<I =I8E:F j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&(',0/& - d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-'((/'-(- [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 8E8>L8EFAL@z8 AFJ< CL@J j\ gifZ\[\i} X XelcXi$ cX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZl$ d\ekf cfj i\ZcXd\% 8:&(',00& . d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '*'()/00(+ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '*.''..'0( [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X J8E:?<Q D<;@E8 J8E;I8 <C@Q89<K? j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-''& / d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '0'((+'.(' p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '0'.',0,,) [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X CFPFC8 :8JK@CCF Q8I@K8 D8I>FK j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c gÂ’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'(& 0 d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef

Ä Ä

'0('')/+/0 p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '0.''(0.+- [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X D<;@E8 G<I8CMF D8I:F M@E@:@F j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-')& (' d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef (+'(''/*+* [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X ?L8I8:8 LIHL@Q8 J < > L E ; F E@:FC8J j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'*& (( d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '('(,-/'/' [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X K8J?@>L8EF D8J898E;8 G<;IF j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'+& ( d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-(''-*)0. p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '-.''+0.** [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X D8C;FE8;F >LQD8E D8I@8 IFJ8I@F j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-',& ) d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '/(''*').. p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '/.''))*)/ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X ;LI8E>F :FI;<IF I F ; I @ > F =I8E:@J:F j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'-& * d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '((').0,)+ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '(.')*(,-( [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 8I:< D8IK?8 @C@8E8 j\ gifZ\[\i} X XelcXi$ cX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZl$ d\ekf cfj i\ZcXd\% 8:&('-'.& ( d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '*'''''+*- [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M@K< E8G8 >@C9<I E<P;<I j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'/& ) d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '(('',/*)+ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf

Ĺ? Ĺ?

Ĺ?

Ĺ? Ĺ?

Ĺ?

Ä Ä‚

Ĺ? Ä‚Ä Ĺ? Ĺ? Ĺ? Ĺ?Ä‚Ä€Ä Ä

Ĺ? +. Ĺ? ÄŒĹ?

C`d`kX[X# g\ik\e\Z`\ek\ X :FI8C IFJ8C<J =8EEP 8C<O8E;I8 j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-'0& * d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '-'())-.)( p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '-.''0.'/ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X >L<II<IF =CFI<J AF9 :<CJF j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-('&+ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '.('')/*0( p C`Yi\kX [\ 8gfikXZ`fe\j Ef% +'.(.'')/*) [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X 8:<IF 8J:8EK8 AFJ< I@:8I;F j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-((&, d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '*'(),00,' p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '*.''*'.., [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X I<Q8 JL8I<Q I@:?8I; =I8EBC@E j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-()&- d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ')'()*0),0 p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ').'')'*'0 [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X <EI@HL<Q ?<IE8E;<Q CLQ>8I;F I@>F9<IKF j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-(*&. d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef )('(*0'./ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ).''.,,). [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M<C<Q >8I:@8 ;8I@F =<IE8E;F j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-(+&/ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '+'(,('/,0 p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '+'.),+,+/[\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X 8CD8:?@ JFI@8 AFJ< AL8E j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-),&( d^

44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ','((++/., p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ','.'-')),[\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X M<C<Q DFI8C<J D8EL<C <C@8J j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-)-&) d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '.''''()-+ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X DFEK8CMF D8I:F M@E@:@F j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-).&* d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '*''''*++/ [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X DFEK8CMF >L8E@E <;@JFE =<IE8E;F j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-)/&+ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '0'((+.*(* p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '0.''++/-. [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X G@EF FIK@Q >I8:@<C8 ;< CFLI;<J j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-)0&, d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '+(''/+-+( [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M8CC8;8;I<J I<P<J ;@<>F IF9<IKF j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-*'&- d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ()'''',.') [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 8I@8J J8C8Q8I CL@J 8E@98C j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-*)&. d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '0'((*+(+0 [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X :?LHL@ :?@HL@KF J<>LE;F @;<C=FEJF j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-*(&/ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ()'('-*'/, p C`Yi\kX [\ 8gfikXZ`fe\j Ef% +()(.'''(**/ [\ cX

Ĺ?

:ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X DLzFQ 8E;I8E>F :8ICFJ J8DL<C j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-**&0 d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef *'''')+,. [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X M<I8 =CFI<J AFJ< D8I:<CF j\ gifZ\[\$ i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-*+&(' d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '('(,-+/-) [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X C8JJF >L8D8E D8I@8 <C<E8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-*0&( d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ','((,-)'* p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ','.',*/,0 [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X Q8D9I8EF >8I:@8 :8ID<E ;<C IF:@F j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+'&) d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef ,'((*/.0+ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% ,.''''-(. [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X CFG<Q HL<Q8;8 IFJ8 ;FC@E8 j\ gifZ\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+(&* d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '*'()0,/*. [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X G<IL8:?@ <E;8I8 AFJ< ;8E@<C j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+)&+ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '(('(+//+ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '(.'()/(-. [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\$ e\Z`\ek\ X QLI@K8 :@JE<IFJ ILK? <C@Q89<K? j\ gifZ\$ [\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`f$ eX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+*&, d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '.(''+(-./ p C`Yi\kX [\ 8gfikXZ`fe\j Ef% +'.(.'')/*) [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X 8P8C8 8P8C8 G<G< CL@J j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-++&- d^ 44444 ;\Y`[f X cX g„i[`[X [\

IeXh[ bWi YeiWi gk[ de i[ YedeY[d i_[cfh[ i[ j_[d[ c[`eh ef_d_ÂŒd$ =EJJ<H?;: M?B>;BC B;?8D?P

cX C`Yi\kX [\ 8_fiifj Ef '*('(0'..* p C`Yi\kX [\ 8gfikXZ`fe\j Ef% '*.'(((.(* [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X :FK8:8:?@ <I8QF D8I@8 <JK<C8 j\ gif$ Z\[\i} X XelcXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+,&. d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8_fiifj Ef '/'(*'+*-- [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X C<FE :8D8z<IF D8IK?8 8C@:@8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+-&/ d^ 44444 ;\Y`[f X cX g„i[`[X [\ cX C`Yi\kX [\ 8gfikXZ`fe\j Ef% '(.'))+.,( [\ cX :ffg\iXk`mX [\ 8_fiif p :i„[`kf :ffgif^i\jf C`d`kX[X# g\ik\e\Z`\ek\ X >L<II8 D8C;FE8;F :8ID<E 8C@:@8 j\ gifZ\[\i} X Xel$ cXicX% GXik`ZlcXi hl\ j\ gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# gXiX hl\ hl`\e j\ Zi\X Zfe [\i\Z_fj jfYi\ \c d\eZ`feX[f [fZld\ekf cfj i\ZcXd\% 8:&('-+.&0 d^

BANCO INTERNACIONAL Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +''.0..), [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* ( d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +)'.(,*)* [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* ) d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +*'.-+*,' [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* * d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% */'.-*-.. [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* + d^ 4444444

Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% */'.)+(-. [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* , d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% */'.+/-0+ [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* - d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +*'.,+**0 [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* . d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% */'.+0/'( [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* / d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% /+/'-( [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gif$ Z\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* 0 d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\e$ kX Ef% ))*+-0) [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* (' d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +''.-///( [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* (( d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX [\ 8_fiifj [\ cX Zl\ekX Ef% +''.+*+() [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* () d^ 4444444 Gfi _XY\ij\ g\i[`[f cX C`Yi\kX

[\ 8_fiifj [\ cX Zl\ekX Ef% )''.,+,+. [\c 9XeZf @ek\ieXZ`feXc J%8%# j\ \jk} gifZ\[`\e[f X jl XelcXZ`�e% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jkX c`Yi\kX# [\Y\i} gi\$ j\ekXi jl i\ZcXdf Xc 9XeZf# [\ekif [\ cfj () [ˆXj# ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e [\ \jk\ Xm`jf% 8:&(',/* (* d^

;<C )'(( :Xek`[X[ *0-%+/ 9\e\]`Z`Xi`f1 =I8EBC@E =I<;;P :?@C8E @KLII8C;< Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj j`^l`\e$ k\j j\j\ekX [ˆXj gfjk\i`fi\j X \jkX glYc`ZXZ`�e% 8:&('-*. &- d^

BANCO RUMIĂ‘AHUI CITIBANK :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`$ Zf hl\ gfi G„i[`[X# hl\[X XelcX[f \c Z_\hl\ Zfe cXj j`^l`\ek\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 98OK<I <:L8;FI J%8% 2 :l\ekX1 .,+,/'*. 2 :_\hl\ Ef% ,**++* =\Z_X [\ \d`j`Â?e )) ;< ;@:@<D9I< ;<C )'(' 2 :Xek`[X[ (-)%,- 2 9\e\]`Z`Xi`f1 J8EK@8>F :8JKIF F:?F8 Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj j`^l`\ek\j j\j\ekX [ˆXj gfjk\i`fi\j X \jkX glYc`$ ZXZ`Â?e% 8:&('-*. &( d^ 44444 :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`$ Zf hl\ gfi G„i[`[X# hl\[X XelcX[f \c Z_\hl\ Zfe cXj j`^l`\ek\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 98OK<I <:L8;FI J%8% 2 :l\ekX1 .,+,/'*. :_\hl\ Ef% ,**+0+ =\Z_X [\ \d`j`Â?e )) ;< ;@:@<D9I< ;<C )'(' :Xek`[X[ )-'%.- 9\e\]`Z`Xi`f1 GIF;@D<;8 :%CK;8 Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj j`^l`\ek\j j\j\ekX [ˆXj gfjk\$ i`fi\j X \jkX glYc`ZXZ`Â?e% 8:&('-*. &) d^ 44444 :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`$ Zf hl\ gfi G„i[`[X# hl\[X XelcX[f \c Z_\hl\ Zfe cXj j`^l`\ek\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 98OK<I <:L8;FI J%8% 2 :l\ekX1 .,+,/'*. :_\hl\ Ef% ,**+-' =\Z_X [\ \d`j`Â?e )) ;< ;@:@<D9I< ;<C )'(( :Xek`[X[ ,/-%-- 9\e\]`Z`Xi`f1 =89@FC8 =8I=8E DLzFQ Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj j`^l`\ek\j j\j\ekX [ˆXj gfjk\$ i`fi\j X \jkX glYc`ZXZ`Â?e% 8:&('-*. &* d^ 44444 :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`$ Zf hl\ gfi G„i[`[X# hl\[X XelcX[f \c Z_\hl\ Zfe cXj j`^l`\ek\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 98OK<I <:L8;FI J%8% 2 :l\ekX1 .,+,/'*. :_\hl\ Ef% ,**+00 =\Z_X [\ \d`j`Â?e )) ;< ;@:@<D9I< ;<C )'(' :Xek`[X[ ,/*%(/ 9\e\]`Z`Xi`f1 8EKFE@F I@M<I8 J@D@JK<II8 Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj j`^l`\ek\j j\j\ekX [ˆXj gfjk\i`fi\j X \jkX glYc`ZXZ`Â?e% 8:&('-*. &+ d^ 44444 :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`Zf hl\ gfi G„i[`[X# hl\[X XelcX$ [f \c Z_\hl\ Zfe cXj j`^l`\e$ k\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 98OK<I <:L8;FI 2 :l\ekX1 .,+,/'*. :_\hl\ Ef% ,**+,* =\Z_X [\ \d`j`Â?e )) ;< ;@:@<D9I< ;<C )'(' :Xek`[X[ ,+/%/' 9\e\]`Z`Xi`f1 JFE@8 ;FD@E>L<Q M8QHL<Q Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj j`^l`\ek\j j\j\ekX [ˆXj gfjk\i`fi\j X \jkX glYc`ZXZ`Â?e% 8:&('-*.&,d^ 44444 :@K@98EB# E%8% JlZlijXc <ZlX[fi Zfdle`ZX Xc gÂ’Yc`Zf hl\ gfi G„i[`[X# hl\[X XelcX$ [f \c Z_\hl\ Zfe cXj j`^l`\e$ k\j ZXiXZk\iˆjk`ZXj1 >`iX[fi1 K898:8C<I8 8E;@E8 J%8% K8E8J8 2 :l\ekX1 ((+),'(( :_\hl\ Ef% *''+0,, =\Z_X [\ \d`j`Â?e (( ;< 89I@C

HL<;8 8ELC8;8 Gfi g„i[`[X [\ cX c`Yi\kX [\ X_fiifj Ef%/))..,0.'' Eif% :XikfcX (/(00(,'''- [\c 9XeZf Ild`ŒX_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ( d^ 44444 HL<;8 8ELC8;8 Gfi g„i[`[X [\ cX c`Yi\kX [\ X_fiifj Ef%/()(-+)*'' Eif% :XikfcX (.-)/(-')'- [\c 9XeZf Ild`ŒX_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& ) d^ 44444 HL<;8 8ELC8;8 Gfi g„i[`[X [\ cX c`Yi\kX [\ X_fiifj Ef%/'+*.+(*'' Eif% :XikfcX (-/),/)'((. [\c 9XeZf Ild`ŒX_l`% Hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& * d^ 44444 HL<;8 8ELC8;F Gfi g„i[`[X [\c :_\hl\ Ef%*-0- MXcfi .)%'' [\ cX :kX Ef%/'')/'))'+ g\ik\e\Z`\e$ k\ X G8I<A8 DFEK<J@EFJ# AFI><$8ID8E;F [\c 9XeZf Ild`ŒX_l`% Hl`\e k\e^X [\i\$ Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj - [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:& + d^

BANCO PROMERICA J\ XelcX gfi g„i[`[X cX C`Yi\kX Ef -()-+0,'(/ [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X GIF8zF CL@J *)(..) hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:&(',-(&(d^ 44444444 J\ XelcX gfi g„i[`[X cX G�c`qX [\ @em\ij`�e Ef ()*)/)'-/ [\c 98E:F GIFD<I@:8# g\i$ k\e\Z`\ek\ X J8E>FHL@Q8 <JG@I@KL MXcfi ,*.%'+ =<% *'&'+&)'') =M& ('$ '-$)'') hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\ekif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:&(',-'&(d^ 44444444 J\ XelcX gfi g„i[`[X cX C`Yi\kX Ef -'-/./''(, [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X I<:8C;< IF;I@>F hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcX$ dXi [\ekif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`$ ZXZ`�e% 8:&('-+/&d^ 44444444 J\ XelcX gfi g„i[`[X \c Z_\$ hl\ Ef% +0* ;\ cX Zl\ekX Zfii`\ek\ Ef ('*,'0/'(/ MXcfi (.'%'' [\c 98E:F GIFD<I@:8# g\ik\e\Z`\ek\ X 8ID8J G8LC@E8 hl`\e k\e^X [\i\Z_f [\Y\i} i\ZcXdXi [\e$ kif [\ cfj () [ˆXj gfjk\i`fi\j X cX ’ck`dX glYc`ZXZ`�e% 8:&('-+0&d^ 44444444

BANCO PROCREDIT 98E:F GIF:I<;@K J%8% gfe\ \e ZfefZ`d`\ekf [\c g’Yc`Zf# cX XelcXZ`�e gfi g„i[`[X [\ Z\ik`]`ZX[f X gcXqf ]`af Zl\ekX (-')'(')+).+/# Z\ik`]`ZX[f ''-)'-- [\ GC8Q8J A8II@E G89CF 8E;I<J Zfe :%@% (.(-0-*'0* 8:&.0'-0&k] 44444 9XeZf GifZi\[`k J%8% gfe\ \e ZfefZ`d`\ekf [\c g’Yc`$ Zf# cX XelcXZ`�e [\ cX c`Yi\kX Ef% '+/-.-( [\ cX Zl\ekX [\ X_fiifj Ef% ('$'('($(*-(-($( X efdYi\ [\c j\Œfi >L8D8E >L8G@ G<;IF Zfe :@ Ef% (.(-,,)0,$* 8:&.0(0+&k]

BANCO AMAZONAS J\ `e]fidX jfYi\ \c \okiXmˆf [\c :;G Ef% *';G=''')'.,(/ gfi ('%'''%'' ]\Z_X [\ m\eZ`d`\ekf \c ',&)-&)'((# X ]Xmfi [\ @E@>L<Q :89I<I8 =I8E:@8 ;8IE<CCP% Hl`\e Zi\p\i\ k\e\i [\i\Z_f jfYi\ \jk\ Z\ik`]`ZX[f [\ [\g�j`kf [\Y\i} gi\j\ekXi jl i\ZcXdf Xc 9XeZf 8dXqfeXj# [\ekif [\ cfj (' [ˆXj ZfekX[fj [\j[\ cX ’ck`dX glYc`ZXZ`�e% 8:&('-*,& ) d^

8ELC8:@FE<J M8I@8J J\ XelcX le i\Z`Yf [\ ZfYiXeqX Ef% (+),/+# g\ik\e\Z`\ek\ X J`Z :fekXZ :\ek\ [\gXikXd\e$ kf [\ :fYiXeqX [\ Le`YXeZf% 8:&.0(+)&k] 444444 :ffg\iXk`mX [\ 8_fiif p :i„[`kf )0 [\ FZklYi\ Hl\[X XelcX[X gfi ifYf cX c`Yi\kX [\ X_fiifj E² +(+'+)'+'+ [\ cX :ffg\iXk`mX )0 [\ FZklYi\# g\ik\e\Z`\ek\ X cX JiX% K\i\jX 8id\e[Xi`q Efi`\^X% 8%G%&+////&b%d% $$$$$$$$$$$$$$$$$$$$$ Hl\[X XelcX[X gfi g„i[`[X cX c`Yi\kX [\ X_fiifj +(('0(+- [\ cX :ffg\iXk`mX )0 [\ FZklYi\ g\ik\e\Z`\ek\ Xc Ji% DXel\c C\dX QXdYiXef% 8%G%&+///0&b%d%

COOPERATIVA COTOCOLLAO J\ XelcX gfi ifYf cX c`Yi\kX [\ X_fiif +'('(')+)'0/ g\i$ k\e\Z`\ek\ Xc Ji% D`ckfe 9l`kiÂ?e [\ cX :ffg\iXk`mX :fkfZfccXf% 8%G%&+/0')&b%d% $$$$$$$$$$$$$$$$$$$$$ J\ XelcX gfi ifYf \c Z\ik`]`ZX[f [\ XgfikXZ`Â?e +'('*')+(.+( g\ik\e\Z`\ek\ Xc Ji% D`ckfe 9l`kiÂ?e [\ cX :ffg\iXk`mX :fkfZfccXf% 8%G%&+/0')&b%d%

ALIANZA DEL VALLE Gfi g„i[`[X j\ XelcX c`Yi\kX [\ X_fiifj +')'('('/-(, [\ cX :ffg\iXk`mX 8c`XeqX [\c MXcc\ [\c Ji% C\feXi[f If[i`^f >lXd}e D\i`ef% 8%G%&+/0('&b%d% 44444444

Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.