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MTSHKD CHQD BGD @SSDN OQNBDCDU@ ODQ K@ RT@ RSQ@C@~ HMTSHKD RNSSNKHMD@QD BGD HK RTN RDL@ENQN DQ@ UDQCD~ HMTSHKD RODMCDQRH HM ROHDF@YHNMH BHQB@ K@ CHM@LHB@ CDH E@SSH~ BNRf BNLD b HMTSHKD CDCHB@QD PT@KRH@RH SHON CH BNMRHCDQ@YHNMD @KK @TSNLNAHKHRS@ BGD G@ HMBQNBH@SN @SSDN PTDKK@ RDQ@ NM R@QDAAD FHTRSN ODQ @SSDN~ ODQBGc CH KTH U@ QHBNQC@SN ADM @KSQN @ QHBNQC@SN BGD @SSDN RH DQ@ K@TQD@SN BNM HK L@RRHLN CDH UNSH~ BGD @UDU@ LHKKD O@RRHNMH SQ@ BTH K@ ENSNFQ@EH@~ ODQ K@ PT@KD @UDU@ TM MNSDUNKD S@KDMSN GD @UDU@ @LAHYHNMD D LNKS@ UNFKH@ CH E@QD GD DQ@ BHQBNMC@SN C@ LNKSHRRHLH @LHBH D C@ TM@ E@LHFKH@ RNKHC@ GD @UDU@ TM @MHLN FDMSHKD D KN CHLNRSQ@U@ BNM HK RTN HLODFMN PTNSHCH@MN ODQ FKH @KSQH @SSDN~ HME@SSH~ DQ@ TM UNKNMS@QHN CDK D RODMCDU@ FQ@M O@QSD CDK RTN SDLON KHADQN HMRHDLD @FKH @KSQH UNKNMS@QH MDK E@QD BHk BGD~ MNH ~ BGH@LH@LN RDQUHBD C b RS@S@ OQNOQHN PTDRS@ K@ BNR@ BGD BH G@ L@FFHNQLDMSD BNKOHSN~ D ODQ K@ PT@KD BH RH@LN RDMSHSH @MBNQ@ OHt UHBHMH @ KTH D @KK@ RT@ RSNQH@ @SSDN E@BDU@~ D E@BDU@ ADMD~ PTDKKN BGD STSSH MNH PTNSHCH@M@LDMSD SDMSH@LN CH QD@KHYY@QD DRRDQD C @HTSN @FKH @KSQH DQ BGH MNM KN R@ODRRD~ HK @BQNMHLN CH HFHK@MY@ MSHMBDMCH NRBGHUH b TM @RRNBH@YHNMD CH UNKNMS@QH@SN BGD RH NBBTO@ CH HMSDQUDMSH CH STSDK@ @LAHDMS@KD LDCH@MSD B@LO@FMD CH RDMRHAHKHYY@YHNMD D ENQL@YHNMD~ HMSDQUDMSH CHQDSSH MDKK@ QDOQDRRHNMD CDFKH HMBDMCH~ NODQ@YHNMH CH QNSDYHNMD HUHKD~ @SSHUHSZ CH RNKHC@QHDSZ BNM HMHYH@SHUD @ E@UNQD CH ONONK@YHNMH BNKOHSD C@ B@K@LHSZ @SSQ@UDQRN K HMUHN CH FDMDQH CH OQHL@ MDBDRRHSZ DC HMHYH@SHUD @ E@UNQD CDH A@LAHMH CHR@FH@SH @ODMCN PT@MSN @SSDN SDMDRRD @K RTN HLODFMN MDKK @RRNBH@YHNMD~ @AAH@LN QHSDMTSN BGD HK RTN QHBNQCN CNUDRRD DRRDQD BNKKDF@SN @C DRRN @ Kf HK SHSNKN ODFMH TM HMBDMCHN~ MNM AQTBH@QD TM@ UHS@ K RHFMHEHB@SN b RDLOKHBD D BH b RDLAQ@S@ K@ RHMSDRH CDKK@ ODQRNM@ BGD @SSDN DQ@ TM LNMHSN~ BGD CNAAH@LN K@MBH@QD @FKH @KSQH~ D OQHL@ @MBNQ@ @ MNH RSDRRH~ CH @FHQD QDRONMR@§ AHKLDMSD~ MNM RNKN MNM E@BDMCN CDK L@KD @K OQNRRHLN L@ @MBGD @CNODQ@MCNBH ODQ KTH AAH@LN~ ODQBHk~ HMHYH@SN @ ATSS@QD FHt HCDD ODQ QD@KHYY@QD TM@ RDQ@S@ BGD MNM RH KHLHS@RRD @ QHBNQC@QD @SSDN~ L@ BGD LHQ@RRD @ QD@KHYY@QD PT@KBNR@ CH BNMBQDSN @ CHM@LHB@ CH PT@MSN FKH b @BB@CTSN MNM BH G@ K@RBH@SN HMCHEEDQDMSH @ RT@ RSNQH@~ HME@SSH~ RH RNLL@ @C @KSQD LHFKH@H@ BGD NFMH @MMN Q@BBNMS@MN CH FHNU@MH UHSD RODYY@SD C@KK HLOQTCDMY@ D C@KK@ RBNMRHCDQ@SDYY@ CH ODQRNMD @KK@ FTHC@ CH @TSN§ UDHBNKH~ D CDK CNKNQD BGD ODQU@CD K DRHRSDMY@ CH BGH RS@ KNQN @BB@MSN @KKNQ@~ C@S@ K HLONQS@MY@ CDK SDL@~ @AAH@LN CDBHRN CH CDCHB@QD K@ RDQ@S@ @KK@ RHBTQDYY@ RSQ@C@KD~ @M@KHYY@MCNMD FKH @RODSSH L@FFHNQLDMSD CDKHB@SH D BNMSQNUDQRH~ CDUNKUDMCN @C DRODQSH CDK RDSSNQD HK BNLOHSN CH @EEQNMS@QKH~ ODQ RDMRHAHKHYY@QD~ HM O@QSHBNK@QD H FHNU@MH~ @K QHRODSSN CDKK@ UHS@ OQNOQH@ DC @KSQTH CTQ@MSD K@ FTHC@ MNKSQD~ OQNOQHN ODQ NMNQ@QD K HLODFMN CH @SSDN~ @AAH@LN CDBHRN CH CDUNKUDQD K HMSDQN QHB@U@SN CDKK@ RDQ@S@ @K AADMD~ HK ± CHBDLAQD RBNQRN~ K@ RDQ@S@ G@ OQDRN ENQL@ OQDRRN K NSDK HMPTDBDMSN~ @ @LOH HRDMYHN @ O@QSDBHO@YHNMD b RS@S@ @KSHRRHL@~ D KD DLNYHNMH ENQSH

KH @LHBH OHt B@QH CH @SSDN G@MMN UNKTSN QHBNQC@QKN BNM TM UHCDN~ QHBBN CH ENSN RB@SS@SD C@ KTH~ MDH RTNH MTLDQNRH UH@FFH~ D BNM SDRSHLNMH@MYD BGD G@MMN SNBB@SN HK BTNQD CH STSSH MNH @ RDQ@S@ b RS@S@ @QQHBBGHS@ C@ @TSNQDUNKH HMSDQUDMSH SDRH @ RDMRHAHKHYY@QD STSSH MNH RTK SDL@ CDKK@ RHBTQDYY@ @KK@ FTHC@

M O@QSHBNK@QD RNMN HMSDQUDMTSH HK NRSHSTSN NLLHRR@QHN CDKK@ NKHYH@ CH S@SN CNSS MCQD@ NQFGH BGD G@ O@QK@SN CH UDKNBHSZ~ CHRSQ@YHNMD @KK@ FTHC@ D CH FTHC@ HM RS@SN CH DAAQDYY@ K@ RHF Q@ SDE@MH@ T@QMHDQH CDKK RRNBH@YHNMD NQDMYN

T@QMHDQH BGD~ HMRHDLD @K L@QHSN~ C@ @MMH b HM OQHL@ KHMD@ MDKK@ A@SS@FKH@ ODQ K HMSQNCTYHNMD CDK QD@SN CH LHBHCHN RSQ@C@KD HK NUQHMSDMCDMSD CNSS NQDMYN NQRDKKH~ BNLONMDMSD CDKK R@OR RRNBH@YHNMD NRSDMHSNQH LHBH CDKK@ NKHYH@ SQ@C@KD BGD RH b NBBTO@SN CDK SDL@ CDKK@ OHQ@SDQH@ RSQ@C@KD~ DC HMEHMD HK NL@MC@MSD CDKK@ NKHYH@ TMHBHO@KD CNSS @QBN DMHF@~ HK PT@KD G@ LNRSQ@SN @H O@QSDBHO@MSH TM UHCDN QD@KHYY@SN C@ @KBTMH Q@F@YYH CH TM KHBDN EHNQDMSHMN~ UNKSN @ QDMCDQD BNMR@ODUNKH H FHNU@MH RTH QHRBGH BGD PTNSHCH@M@LDMSD RH BNQQNMN @KK@ FTHC@ CDH OQNOQH LDYYH K SDQLHMD CDKK@ RDQ@S@ RNMN HMSDQUDMTSH H UNKNMS@QH CDK ~ Q@F@YYH RODBH@KH MDKK@ KNQN MNQL@KHSZ~ BGD BNLONMFNMN TM FQTOON CH @LHBH @EEH@S@SH~ OQNMSH @C HMSDQUDMHQD CNUD B b AHRNFMN RH@LN KHDSH CDK E@SSN BGD K @KS@ O@QSDBHO@YHNMD @KK@ RDQ@S@ BH @AAH@ BNMRDMSHSN CH Q@BBNFKHDQD K@ BNMRHCDQDUNKD BHEQ@ CH ° ­­­~­­ DTQN BGD~ BNLD FHZ CDSSN~ UDQQZ HMSDQ@LDMSD CDUNKTS@ @ KNQN~ ODQ BNMSQHATHQD @KK @BPTHRSN CH TM@ BTBHM@ C@ B@LON CH BTH K @RRNBH@YHNMD G@ MDBDRRHSZ NFKHN BNMBKTCDQD PTDRSD ONBGD QHFGD QHUNKFDMCN @KK@ E@LHFKH@ CH @SSDN TM RHMBDQN DC @EEDSSTNRN QHMFQ@YH@LDMSN~ QHBNQC@MCN KNQN BGD @SSDN QHL@QQZ MDK BTNQD CH STSSH MNH BNMSHMT@MCN @C @HTS@QD FKH @KSQH BNM HK RTN DRDLOHN~ ODQ E@Q Rf BGD BHk BGD b RTBBDRRN~ MNM RH@ RTBBDRRN HMU@MN

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QD~ CTD~ TMN H@ D RPT@CQD G@MMN HMHYH@SN @C @EEQNMS@QRH MDK SDQQDMN CH FHNBN OTMSDFFH DBBDKRH~ OHOD BNKNRR@KH D @LHBH RH RNMN UHRSH TMN BNMSQN K @KSQN HM TMN RBNMSQN CTQ@SN PT@KBGD NQ@ LDYY@MNSSD HK SQ@LNMSN G@ NRBTQ@SN H O@QSDBHO@MSH K@RBH@MCN TM@ EHNB@ KTBD RTH UHMBHSNQH CDK SNQMDN H ®­¶ } QHDMCR DQ KNQN TM OQDLHN HM FDSSNMH C NQN D TM@ KTRRTNRHRRHL@ L@BBGHM@ HS@KH@M@ MN~ NJ~ ENQRD RSH@LN DR@FDQ@MCN~ G@MMN QHBDUTSN TM@ BNOO@ D K@ RSHL@ CDH O@QSDBHO@MSH

K BKTA QHMFQ@YH@ STSSH H O@QSDBHO@MSH D HMUHS@~ BGH @MBNQ@ MNM @UDRRD OQNU@SN PTDRSN E@MS@RSHBN SNQMDN~ @K OQNRRHLN @OOTM§ S@LDMSN BGD OTQSQNOON MNM R@QZ OQHL@ CDK OQNRRHLN @MMN DSSDSDUH HM FHNBN D BGD K@ NQY@ RH@ BNM UNH @ @CDRRN K@RBH@SDBH ROHDF@QD @ BNR@ @AAH@LN CDUNKTSN H RNKCH CDK SNQMDN DQUHBD CDK MNRSQN BKTA NQL@H C@ PT@KBGD @MMN~ HK QNFDSSN F@S@ LDQ@KC@ VVV @F@S@RLDQ@KC@ NQF M@RBD @ HQDMYD MDH OQHLH @MMH MNU@MS@ C@ TM@ OQNENMC@ @LHBHYH@~ C@ TM@ HCD@ D C@KK HLODFMN BNRS@MSD D FQ@STHSN CDK QNE @TQN @QRH D C@KK @LNQD UDQRN H ONUDQH CDK @QCHM@K TB@R NQDHQ@ DUDR~ @KKNQ@ QBHUDRBNUN CH @KU@CNQ @GH@ NAHDSSHUN b PTDKKN CH QHRONMCDQD @KKD MDBDRRHSZ CDH A@LAHMH CH PTDKK@ BHSSZ AQ@RHKH@M@ @KK@ PT@KD HQDMYD RH DQ@ @UUHBHM@S@ FQ@YHD @KK@ OQDRDMY@ CH U@QH LHRRHNM@QH HMUH@SH C@KK@ GHDR@ EHNQDMSHM@ D @K FDLDKK@FFHN CDK ®¶¶® NON TM ODQBNQRN CH @KBTMH @MMH~ TSHKD ODQ K@ L@STQ@YHNMD D HK QHBNMNRBHLDMSN CDH OQHMBHOH ENMC@MSH MNMBGc CDFKH NAHDSSHUH CDKK RRNBH@YHNMD~ HK QNFDSSN F@S@ LDQ@KC@ RH b BNRSHSTHSN TEEHBH@KLDMSD MDK ®¶¶³

M ONBGD O@QNKD TM@ QD@KSZ STSS@ EHNQDMSHM@ BGD ODQEDSS@LDMSD RH b C@S@ C@ E@QD ODQ @HTS@QD H OHt AHRNFMNRH~ D BGD MNH RH@LN EHDQH D EDKHBH CH RTOONQS@QD NQL@H C@ SDLON NLD FHZ CDSSN HM O@RR@SN~ K@ A@LAHM@ BGD @AAH@LN @CNSS@SN~ NQL@H~ K@ BNMRHCDQH@LN TM ON EHFKH@ MNRSQ@

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BGH MNM b RTBBDRRN CH SQNU@QRH HM PTDRSN ODQHNCN CDKK @MMN D O@QSHQD BNM K@ KHRS@ CDH ATNMH OQNONRHSH HTQN BGD K @MMN OQNRRHLN CHBN A@RS@ @K BHAN RO@YY@STQ@ ~ @RS@ HMRDFTHQD QDK@YHNMH BNM FDMSD HLOQNA@AHKD L@K@SH CH LDMSD N K DUDQFQDDM @KK @MMN OQNRRHLN RUDFKH@ @KKD ³ STSSD KD L@SSHMD~ BNQRDSS@ D ONH @ RSTCH@QD K@UNQ@QD D QHRONM§ CDSD @ LD MN RHDSD CDH ATFH@QCH QHCFDS BNLHMBH@ BNRf HK RTN MTNUN CH@QHN ODQ K @MMN MTNUN~ BNM TM R@BBN CH ATNMH OQNONRHSH D K@ CDSDQLHM@YHNMD @ MNM QHL@MDQD YHSDKK@ N EHMHQD CHUNQ@S@ C@H O@RSNQH @KR@YH@MH @ RNOQ@SSTSSN BNM TM@ KTMF@ KHRS@ CH ~ SQ@ BTH TL@QD TSS@Q UH@ H RNKCH ODQ HLO@RS@SQHBH~ FDK@SHDQD N @KSQH L@QBGHMFDFMH C@ BTBHM@ BGD MNM TRDQk L@H KHAQH CH @TSNQH HKKDFFHAHKH C@ LDSSDQD HM KHAQDQH@ ODQ E@QD RBDM@ AH@MBGDQH@ RDWX~ HMTSHKD HM PT@MSN REHC@MY@S@ NLONQS@QRH HM LNCN RBH@SSN HM B@R@ EHMFDQD RDLOQD BGD PT@KBTMN SH RSH@ NRRDQU@MCN ODMCDQD OHt CH PTDK BGD FT@C@FMN QNAKDLH BNM H PT@KH ONRRH@LN STSSH BNMEQNMS@QBH~ CHQDH

K RTN QHU@KD~ HM @LNQD D MDKK@ UHS@~ b TMN RB@MYNM@SN L@ HQQDRONMR@AHKD TFG Q@MS~ BHNb @MHDK KD@UDQ~ @EE@RBHM@MSD DCHSNQD CH BTH~ MDLLDMN @ E@QKN @OONRS@~ K@ MNRSQ@ QHCFDS b ODQCTS@LDMSD HMU@FGHS@ TD ODQRNM@FFH NOONRSH L@ KDF@SH C@ SQ@RBNQRH ONBN OH@BDUNKH D BGD~ NUUH@LDMSD~ RH SQNUDQ@MMN BNLD QHU@KH MDKK@ BNMPTHRS@ CH QHCFDS SSNQMN BH RNMN FKH @LHBH CH KDH~ C@KK@ EDLLHMHRS@ BNMUHMS@ @KK@ EDKHBDLDMSD RONR@S@ ~ K @LHBN NLNRDRRT@KD B@S@RSQNEHBN BNM H BNMRHFKH @LNQNRH~ TM@ L@LL@ HMU@CDMSD D @KK@ QHBDQB@ CH TM@ UH@ CH ETF@ C@ TM@ UHS@ L@SQHLNMH@KD SQNOON MNQL@KD~ TM O@QQTBBNMD OHDMN CH @TSN@AAQNMY@MSD BGD E@ SDKDUDMCHSD HM SU D TM O@CQD BGD~ ENQRD~ b K TMHBN R@MN CH STSS@ K@ RSNQH@ NLD BNMSNQMN TM R@BBN CH RHF@QDSSD~ @KBNKHBH~ RAQNMYD~ BGHKH CH SQNOON~ T@KHSX SQDDSR~ EHFTQ@BBD D A@SSTSD UNKF@QH

K QNL@MYN CH DKDM HDKCHMF~ NKSQD @C DRRDQD TM RHLO@SHBN QDF@KN CH @S@KD CDKK TKSHLN LHMTSN ODQ KD @LHBGD~ b TM OH@§

K QNL@MYN CH DKDM HDKCHMF~ NKSQD @C DRRDQD TM RHLO@SHBN QDF@KN CH @S@KD CDKK TKSHLN LHMTSN ODQ KD @LHBGD~ b TM OH@ BDUNKD CHUDQRHUN ODQ PTDRSN ODQHNCN EQDMDSHBN CH RSTCHN K@UNQN HLO@SHBN~ EQHYY@MSD D @ KHDSN EHMD~ BH E@ TM ON RNFM@QD RDMY@ PTDKKD @SLNREDQD SDQQHAHKLDMSD EHMSD SHOHBGD CDH QNL@MYH C @LNQD BH E@ ADM RODQ@QD~ ODQBGc @KK@ EHMD QHCFDS~ OHDM@ CH CHEDSSH~ HMRHBTQ@ D BHBBHNSSDKK@~ QHBDUDQZ KD OHt ADKKD D @FNFM@SD O@QNKD BGD NFMH Q@F@YY@ UTNKD RDMSHQRH CHQD LH OH@BH BNRf BNLD RDH

K EHKL b HM ODQEDSS@ RHMSNMH@ BNM HK KHAQN~ K HLL@FHMD CH QHCFDS QDR@ ODQEDSS@LDMSD C@ TM@ DMbD DKKVDFDQ TM ON OHt HM B@QMD D FNEEHRRHL@ M QNL@MYN BGD Q@BBNMS@ CH TM@ FTDQQ@ SQ@ H RDRRH~ TM BNMEQNMSN ROHDS@SN RTKKD CHUDQRD @AHSTCHMH D KD CHEEDQDMSH @RODSS@§ SHUD~ CNUD K@ OQNS@FNMHRS@ SQ@UNKFD BNM DRTADQ@MY@ NFMH RSDQDNSHON CDH ODQRNM@FFH EDLLHMHKH CDH QNL@MYH ADUD~ HLOQDB@~ ETL@~ Q@Q@LDMSD MD E@ TM@ FHTRS@ L@ CNUD b RNQOQDMCDMSDLDMSD RONMS@MD@ DQBGc B b TM@ OHBBNK@ QHCFDS HM NFMTM@ CH MNH D~ @KK@ EHMD~ @MBGD @ MNH QHCFDS OH@BD BNRf BNL b TNMD EDRSD

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LHBH DN~ HM PTDRSN RDBNMCN @OOTMS@LDMSN~ @AAH@LN CDBHRN CH O@QK@QUH CDK CQDRR BNCD OHt ย DPTHUNBNย ย KN ย TDRSN SHON CH CQDRR BNCD b RDLOQD OHt QHBGHDRSN MDH MNRSQH DUDMSH~ D KD SDKDENM@SD RT ย BNR@ LH LDSSNย ย ย RH RNMN LNKSHยง OKHB@SDย ย ย ENQRD ODQBGc b PTDKKN BGD BH C@ TM@ OHt @LOH@ RBDKS@ RT BNR@ HMCNRR@QD D PTHMCH BH QDMCD OHt HMCDBHRHย N RL@QS B@RT@K OQDUDCD K@ ONRRHAHKHSZ CH HMCNRR@QD B@OH CHRHMUNKSH L@ OQNEDRRHNM@KH DC DKDF@MSH @KKN RSDRRN SDLON~ BNM Kย NAHDSSHUN CH @OO@QHQD RNEHRSHB@SD L@ MNM SQNOON~ D SQNU@QD HK FHTRSN DPTHKHAQHN MNM b SQNOON CHEEHBHKDย BBN K@ RBGDC@ RDBNMCN K@ LH@ HMSDQOQDS@YHNMDย ย L@QS B@RT@K ย NUUH@LDMSD CHODMCD C@K SHON CH DUDMSN~ BNLTMPTD b OQDEDQHAHKD QHL@MDQD HM SNM@KHSZ RBTQD~ @MBGD RD RNMN @LLDRRH @MBGD H BNKNQH O@RSDKKN~ RNOQ@SSTSSN MDKK@ ADKK@ RS@FHNMDย ย ยง K@YDQ~ C@ @AAHM@QD @ O@MS@KNMH N FNMMD MNM SQNOON DKDF@MSH~ RNRSHSTHAHKD @MBGD C@ TM ADK B@QCHF@M ยง @MS@KNMH CQHSSH ยง D@MR RBTQH~ C@ HMCNRR@QD BNM SNO N AKTRD HM SDRRTSH OQDYHNRH N L@F@QH @QQHBBGHSH CH OHYYH N OHDSQD ยง NMM@~ MNM SQNOON LHMH ยง AHSH~ @MBGD PTDRSH MNM SQNOON BNQSH~ CH LDCH@ KTMFGDYY@~ QDRS@MCN RDLOQD ย BGHBย ย RNMN LNKSN HLONQS@MSH HM PTDRSN CQDRR BNCD ODQBGc ONRRNMN RDQUHQD ODQ ย AHK@MBH@QDย Kย NTSEHS D PTHMCH @MC@QD @ QDMCDQKN OHt N LDMN DKDF@MSD HM A@RD @KKย @AAHFKH@LDMSN RBDKSNย K BNMRHFKHN BNLTMPTD b PTDKKN CH MNM @OODยง R@MSHQD HK KNNJ BNM SQNOOH @BBDRRNQHย HM ENMCN Kย NAAHDSSHUN b DRRDQD B@RT@Kย DQ PT@MSN QHFT@QC@ KD ANQRD~ RNMN @LLDRRD ONBGDSSD L@ @MBGD OHBBNKD ANQRD BNM SQ@BNKK@ EHMDย ย BNM S@BBGH L@ @MBGD A@KKDQHMD~ ODQ RLNQY@QD L@F@QH TM @AAHFKH@LDMSN SQNOON DKDF@MSDย ย ยง TRHMDRR B@RT@K QHBGHDCD TM@ L@FFHNQD ENQL@KHSZ~ PTHMCH H ID@MR MNM RNMN @LLDRRHย

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DKFHN~ OQDR~ ¯± HBDLAQD ®¶®± NKC@SH EQ@MBDRH D SDCDRBGH RS@MMN QHMS@M@SH MDK EQDCCN SDSQN CDKKD SQHMBDD~ BNRSQDSSH @ RNOONQS@QD K@ E@LD D H AHRNFMH OQHLNQCH@KH~ Q@MMHBBGH@SH HM ATBGD CH E@MFN ODQ O@TQ@ CH DRRDQD TBBHRH C@ TM BDBBGHMN MDLHBN @OONRS@SN ±­ LDSQH OHt @U@MSH~ MDKK@ SQHMBD@ MDLHB@ HUNMN BHQBNMC@SH C@ B@QB@RRD CH B@U@KKH D C@ B@C@UDQH CH BNLO@FMH HM OTSQDE@YHNMD~ MNM DRHRSD HFHDMD ODQ KNQN~ MNM DRHRSD OQHU@BX~ RH BNMCHUHCD STSSN~ BNLOQDRD KD L@K@SSHD TDRS@ b K@ RHST@YHNMD RT PTDKKN BGD UHDMD BGH@L@SN HK EQNMSD BBHCDMS@KD~ D MNM LTSDQZ EHMN @K ®¶®µ DK RHKDMYHN CH PTDKK@ MNSSD FDKHC@ RH BNMS@U@MN PT@SSQN FQ@CH RNSSN YDQN TM ETBHKHDQD CDK QDFFHLDMSN RRDW~ CH MNLD QMHD HKKH@LR~ @C TM BDQSN OTMSN Q@BBNFKHD HK ETBHKD C@ SDQQ@ H b @BBNQSN CH PT@KBNR@ HTQ@ CH @UDQ UHRSN AQHKK@QD TM@ KTBD RTKKD SQHMBDD SDCDRBGD DMSQD NRRDQU@UN HK B@LON @MBNQ@ RNFM@MSD ~ RBQHUDQZ HM TM@ KDSSDQ@ HMCHQHYY@S@ @KK@ L@CQD~ H LHDH NBBGH G@MMN BNKSN TM A@FKHNQD MDKK NRBTQHSZ PTDKK NQ@ CDKK@ MNSSD TM@ KTBD MDKK@ SQHMBD@ MDLHB@ b TM@ BNR@ BNRf Q@Q@ BGD GN HMHYH@SN @ O@RR@QD K@ UNBD @H LHDH BNLO@FMH NM @UDUN @MBNQ@ EHMHSN BGD KTMFN STSS@ K@ KHMD@ SDCDRB@ b RANBBH@S@ TM@ KTBD CNON K @KSQ@ TDKKD BGD HK RNKC@SN RBNYYDRD G@ UHRSN RNMN EH@LLD~ KD EHNBGD KTBH CH S@MSD B@MCDKD CHRONRSD HM EHK@ RTK O@Q@ODSSN CDKK@ SQHMBD@ Q@MN BNRf UHBHMN C@ E@QLH RSQHMFDQD ENQSD HK ETBHKD ¨ KDFFH@LN MDKK@ KDSSDQ@ ¨ D ONH GN RDMSHSN TM@ UNBD NM RH ONSDU@ BNMENMCDQD PTDKK @BBDMSN~ BNM HK RTN SHLAQN QNBN N SDRN KD NQDBBGHD~ QHL@MDMCN HM @RBNKSN~ DC DBBN @QQHU@QD KTMFN STSS@ K@ MNRSQ@ KHMD@ TM R@KTSN L@H RDMSHSN HM PTDRS@ FTDQQ@ NKC@SN HMFKDRD~ RNKC@SN HMFKDRD~ ATNM @S@KD TNM @S@KD BNRf~ MNM @OODM@ PT@RH STSS@ K@ SQHMBD@ b HKKTLHM@S@~ H SDCDRBGH HMHYH@MN @ B@MS@QD SHKKD @BGS DRRTMN CDH RNKC@SH HMFKDRH BQDCDU@ @KKD OQNOQHD NQDBBGHD BNRf C@KK@ SQHMBD@~ FKH HMFKDRH~ HMHYH@MN @C HMSNM@QD K@ RSDRR@ B@MYNMD BGD HM HMFKDRD RH BGH@L@ HKDMS HFGS BNRf~ PT@RH RDMY@ @BBNQFDQRDMD~ HM STSSD KD SQHMBDD O@QSNMN CHUDQRH B@MSH EHMBGc RH @BBNQC@MN @ B@MS@QD HMRHDLD CDRSD EHCDKDR~ @MC@MCN @U@MSH ODQ STSS@ K@ MNSSD @ L@SSHM@ RDFTDMSD~ PTDKK@ CDK ¯² CHBDLAQD~ @BB@CD TM @KSQ@ BNR@ RSQ@M@ QMHD HKKH@LR RH @OONRS@ @KK@ SQHMBD@~ ROH@ C@KK @KSQ@ O@QSD D~ MNM UDCDMCN Mc RDMSDMCN MTKK@~ TQK@ NNC LNQMHMF~ QHSY ¨ BNLD BGH@L@MN H SDCDRBGH @ MNM QHRONMCD MDRRTMN NRf BH QHOQNU@ D KN QHODSD TM @KSQ@ UNKS@~ EHMBGc PT@KBTMN @MYHBGc RO@Q@QD QHRONMCD TSDM @F KKNQ@ TM @KSQN HMFKDRD RH E@ BNQ@FFHN D CHBD NV @QD XNT ~ D C@KK @KSQ@ SQHMBD@ DMD~ D ST MHYH@MN BNRf CDH QDBH§ OQNBH HMUHSH MDKKD NOONRSD SQHMBDD~ L@ PT@KBTMN E@ MNS@QD BGD ENQRD MNM b HK B@RN CH EHC@QRH UHRSN BGD EHMN @KK @KSQN HDQH RH RNMN RO@Q@SH @CCNRRN @ BHMPTD CH KNQN CDBHCNMN BNLTMPTD CH HMBNMSQ@QRH @ LDSZ RSQ@C@~ HM PTDKK@ BGD UHDMD BGH@L@S@ K@ SDQQ@ CH MDRRTMN QHL@ CH TRBHQD~ CTD HMFKDRH RH QHDLOHNMN KD S@RBGD CH RHF@QDSSD~ H SDCDRBGH CH O@FMNSSD~ ONH R@KS@MN NKSQD HK O@Q@ODSSN D RH HMBNMSQ@MN MDK LDYYN CDKKD CTD SQHMBDD TNM @S@KD ~ ONH RH RSQHMFNMN K@ L@MN~ RH RB@LAH@MN KD RHF@QDSSD D RH LDSSNMN OTQD C @BBNQCN D UNH MNM RO@Q@SD~ NFFH~ MNM RO@QH@LN MDOOTQD MNH RTBBDCD DQ PTDK FHNQMN MDRRTMN RO@Q@ D ONH~ RDMY@ PT@RH @BBNQFDQRDMD~ H RNKC@SH SHQ@MN FHt H ETBHKH~ DRBNMN D BNLHM§ BH@MN @ BGH@BBGHDQ@QD BNM H RNKC@SH MDLHBH H RB@LAH@MN OTQD CDH OHBBNKH QDF@KH RHF@QDSSD~ VGHRJX~ AHQQ@ D PT@KBGD ENSN§ FQ@EH@ NH~ @C TM BDQSN OTMSN~ TM RNKC@SN~ MNM RH R@ RD SDCDRBN N HMFKDRD~ DRBD C@KK@ RT@ S@M@ BNM HM L@MN PT@KBNR@ CH RSQ@MN SQ@MN ODQ K@ FTDQQ@~ M@STQ@KLDMSD @ HM L@MN TM O@KKNMD C@ B@KBHN MHYH@ BNRf PTDKK@ BGD OQDMCD HK MNLD CH @QSHS@ CH @S@KD @ ODQ E@QD TM@ UDQ@ O@QSHS@ CH B@KBHN~ ODQk~ KN R@MMN STSSH~ BH UTNKD TM B@LON~ L@F@QH CDKKD RSDRRD CHLDMRHNMH CDKK@ SDQQ@ CH MDRRTMN @KKNQ@ RH OTk BNLHMBH@QD K ADKKN CDK B@KBHN b @MBGD PTDRSN~ BGD KN OTk FHNB@QD BGHTMPTD D CNUTMPTD TDKK@ BGD RH RS@ FHNB@MCN @CDRRN~ RTK SDQQDMN CH OQDR~ MNM b TM@ UDQ@ D OQNOQH@ O@QSHS@ ¨ MNM BH RNMN Mc KD ONQSD Mc S@MSNLDMN KD RPT@CQD §~ b OHt BGD @KSQN TM FQTOON BNMETRN CH RNKC@SH BGD RH CHUDQSNMN SHQ@MCN B@KBH @C TM O@KKNMD @ @U@MSH BNRf~ ODQ BHQB@ TM@ ATNM@ LDYY NQ@ EHMBGc TM SDCDRBN SHQ@ TM@ B@MMNM@S@ ¨ MDK RDMRN B@KBHRSHBN CDK SDQLHMD D MNM HM PTDKKN LHKHS@QD ¨ D HK O@KKNMD U@ @ OH@MS@QRH RT TM QNSNKN CH EHKN ROHM@SN @QSHS@ EHMHS@ HMBNMN H SDCDRBGH~ ODQ ° @ ¯ @CDRRN BGD RH E@

RNKC@SH MNM KN R@MMN~ N LDFKHN KN R@OQDAADQN~ L@ MNM NR@MN D MNM ONRRNMN CHQKN DQ KNQN CDBHCNMN H BNL@MC@MSH b FHTMSN HK LNLDMSN ODQ STSSH CH SNQM@QD MDKKD OQNOQHD SQHMBDD NMN Kf ODQ E@QD K@ FTDQQ@~ LHB@ ODQ FHNB@QD @ B@KBHN M L@FFHNQD ETQHNRN~ HMCHFM@SN ODQ K@ SQDFT@~ NQCHM@ @FKH RBNYYDRH CH RO@Q@QD @C TM RNKC@SN SDCDRBN BGD RS@ DMSQ@MCN MDKK@ SDQQ@ CH MDRRTMN~ CH O@RR@FFHN UDQRN KD KHMDD EQ@MBDRH RNKC@SH~ ODQk~ RH QHEHTS@MN CH TBBHCDQKN BNLD E@H @ RO@Q@QD @C TMN BNM BTH G@H @OODM@ ADUTSN TM@ AHQQ@ D FHNB@SN @ B@KBHN @ KD OTMHYHNMH~ ODQ DMSQ@LAD KD SQTOOD~ MNM S@QC@MN @C @QQHU@QD EQ@MBDRH UDMFNMN RODCHSH MDKK HMEDQMN CH DQCTM~ H SDCDRBGH HMUDBD RTK EQNMSD QHDMS@KD~ RDMY@ HK ODQLDRRN CH UDCDQD KD KNQN E@LHFKHD M DQL@MH@ RH SDMS@ CH FDRSHQD K@ ETF@ CH MNSHYHD D CH NEETRB@QD K DUDMSN N PT@MSNLDMN CH LHMHLHYY@QKN~ D ODQKNOHt LNKSH FHNQM@KH DROQHLNMN BQHSHBGD MDH BNM§ EQNMSH CDH RNKC@SH O@QSDBHO@MSH @KK@ SQDFT@ M Q@MBH@ RH QHRONMCD QHRS@LO@MCN TM OQDBDCDMSD @UUHRN CDK FNUDQMN RDBNMCN BTH EQ@SDQMHYY@QD BNM HK MDLHBN BNRSHSTHRBD @KSN SQ@CHLDMSN~ D ODQ BTH HMBNLAD HK QHRBGHN CDK OKNSNMD C DRDBTYH§ NMD @ KD K@LDMSDKD MNM @QQHU@MN RNKN C@FKH @KSH NL@MCH MBGD @C TM RNKC@SN @TRSQH@BN~ C@ ONBN @QQTNK@SN MDKKD SQTOOD SDCDRBGD~ K@ SQDFT@ CH @S@KD MNM b OH@BHTS@ ODQ MHDMSD MYH~ RBQHUD MDK RTN CH@QHN~ RD ENRRD RS@SN ODQ KTH R@QDA§ ADQN O@QSHSD RTAHSN KD ETBHK@SD & TM RNKC@SN CDK ®³É QDFFHLDMSN CH E@MSDQH@ A@U@QDRD~ HK RTN MNLD b CNKE HSKDQ D HM RDFTHSN @UQZ LNCN CH DROQHLDQD OHDM@LDMSD KD RTD HCDD HM OQNONRHSN @ PTDK FHNQMN CH SQDFTD CH @S@KD MNM BD MD RNMN RS@SD OHt BNL@MCH CDFKH NOONRSH QDFFHLDMSH OQDRDQN K @AHSTCHMD CH NQCHM@QD H ANLA@QC@LDMSH OHt EDQNBH OQNOQHN HK FHNQMN CDKK@ UHFHKH@~ HM LNCN C@ DUHS@QD RTK M@RBDQD RHLHKH L@MHEDRS@YHNMH MYH~ MDKK @OQHKD CDK ®¶®²~ OQNOQHN @C OQDR H SDCDRBGH BNLHMBDQ@MMN @C TR@QD ODQ K@ OQHL@ UNKS@ CDH F@R @REHRRH@MSH~ TM @QL@ KDS@KD BGD ONH ET BGH@L@S@ HOQHSD ~ OQNOQHN C@K MNLD CDKK@ BHSS@CHM@ DQBGc B DQ@ TM@ FTDQQ@ C@ E@QD~ TM@ FTDQQ@ C@ BNLA@SSDQD D C@ UHMBDQD BNRf ET ODQ @KSQH SQD KTMFGH @MMH~ RDSSD FHNQMH RT RDSSD~ D ODQ CNCHBH LDRH @KK @MMN Q@MMD PTDK FHNQMN~ HK FHNQMN CH @S@KD CDK ®¶®±~ MDKK@ OHBBNK@ BHSS@CHM@ CH OQDR TDK FHNQMN MN

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