User manual TOSHIBA E335

Lastmanuals offers a socially driven service of sharing, storing and searching manuals related to use of hardware and software : user guide, owner's manual, quick start guide, technical datasheets... DON'T FORGET : ALWAYS READ THE USER GUIDE BEFORE BUYING !!!

If this document matches the user guide, instructions manual or user manual, feature sets, schematics you are looking for, download it now. Lastmanuals provides you a fast and easy access to the user manual TOSHIBA E335. We hope that this TOSHIBA E335 user guide will be useful to you.

Lastmanuals help download the user guide TOSHIBA E335.


Mode d'emploi TOSHIBA E335
Download
Manual abstract: user guide TOSHIBA E335

Detailed instructions for use are in the User's Guide.

[. . . ] Your Pocket PC produces low levels of RF energy due to the generation of digital timing pulses by its clock oscillator circuits. Your Pocket PC has been equipped with internal shielding to minimize any stray emissions of RF energy. [. . . ] MYVY\ aSVV MRKXQO ^Y Q\OOX ?]O\] 7KX_KV , K]SM =USVV] *QY VQ 2TQNQPI $CVVGT[ . KHG 3 3 3 3 3 ?]O ^RO >Y]RSLK :YMUO^ :- aS^R ^RO +- KNKZ^O\ AROX cY_ _]O ^RO >Y]RSLK :YMUO^ :- _XNO\ ^RO PYVVYaSXQ MYXNS^SYX] ^RO ZYaO\ MYX]_WZ^SYX aSVV LO RSQRO\ ^RKX XY\WKV :VOK]O _]O ^RO +KNKZ^O\ aROX$ 3 >RO >Y]RSLK :YMUO^ :- S] YZO\K^ON aRSVO MYXXOM^ON ^Y cY_\ MYWZ_^O\ 3 >RO >Y]RSLK :YMUO^ :- S] YZO\K^ON aS^R K ]^Y\KQO MK\N Y\ aS^R KXc Y^RO\ YZ^SYXKV O[_SZWOX^ =OVOM^ ^RO ]RY\^ ZYaO\YPP ^SWO SX ^RO ]O^^SXQ WOX_ >RS] aSVV ]RY\^OX ^RO ^SWO ^RO _XS^ aSVV \OWKSX YX SP XY^ _]ON 0Y\ WY\O SXPY\WK^SYX ]OO w-_]^YWSdO CY_\ >Y]RSLK :YMUO^ :-x SX ^RS] MRKZ^O\ >_\X YPP ^RO ]M\OOX VSQR^ =O^ ^RO ]M\OOX L\SQR^XO]] ^Y ZYaO\ ]K`O WYNO 7ON , \SQR^ Y\ VYa , \SQR^ +V]Y ]RY\^OX ^RO VSQR^ ^_\XYPP ^SWO 0Y\ WY\O SXPY\WK^SYX ]OO w-_]^YWSdO CY_\ >Y]RSLK :YMUO^ :-x SX ^RS] MRKZ^O\ ?]O ^RO >Y]RSLK :YMUO^ :- aS^R KX KWLSOX^ ^OWZO\K^_\O LO^aOOX - #0 KXN - !!0 >RS] ^OWZO\K^_\O \KXQO S] ^RO WY]^ OPPOM^S`O PY\ ^RO L_SV^SX LK^^O\c 3 AROX cY_ _]O ^RO >Y]RSLK :YMUO^ :- SX RSQR Y\ VYa ^OWZO\K^_\O OX`S\YXWOX^] ^RO YZO\KLVO ^SWO S] ]RY\^OXON N_O ^Y ^RO NOM\OK]O YP ^RO L_SV^SX LK^^O\c MKZKMS^c $CVVGT[ . KHG >RO L_SV^SX LK^^O\c RK] K VSWS^ON VSPO <OZOK^ON MRK\QSXQNS]MRK\QSXQ YP ^RO L_SV^SX LK^^O\c Q\KN_KVVc NOM\OK]O] YZO\KLVO ^SWO 3 . Y XY^ VOK`O ^RO >Y]RSLK :YMUO^ :- SX K ZVKMO YP RSQR Y\ VYa ^OWZO\K^_\O 3^ WKc ]RY\^OX LK^^O\c VSPO 3P cY_ RK`O XY^ _]ON ^RO >Y]RSLK :YMUO^ :- PY\ ]O`O\KV NKc] S^] LK^^O\c MRK\QO VO`OV \OKNSXQ WKc LO SXKMM_\K^O 0_VVc \OMRK\QO ^RO LK^^O\c LOPY\O _]SXQ ?]O\] 7KX_KV , K]SM =USVV] $CVVGT[ %JCTIG . GXGN CPF 5VQTGF &CVC 2TQVGEVKQP 3P ^RO LK^^O\c MRK\QO VO`OV LOMYWO] Ob^\OWOVc VYa Y\ S] MYWZVO^OVc NS]MRK\QON ^RO WOWY\c NK^K ]^Y\ON SX ^RO >Y]RSLK :YMUO^ :- aSVV LO NOVO^ON AROX ^RO VYa LK^^O\c ]^K^_] SMYX Y\ ^RO KVK\W WO]]KQO KZZOK\] SWWONSK^OVc MYXXOM^ ^RO +- KNKZ^O\ ^Y cY_\ >Y]RSLK :YMUO^ :- KXN MRK\QO ^RO L_SV^SX LK^^O\c >RO L_SV^SX LK^^O\c Q\KN_KVVc NS]MRK\QO] O`OX SP ^RO NO`SMO S] XY^ LOSXQ _]ON AROX ^RO >Y]RSLK :YMUO^ :- S] VOP^ PY\ K VYXQ ^SWO ^RO L_SV^SX LK^^O\c YP ^RO >Y]RSLK :YMUO^ :- WKc MYWZVO^OVc NS]MRK\QO +] K Z\OMK_^SYX S^ S] \OMYWWOXNON ^RK^ cY_ ]K`O ^RO >Y]RSLK :YMUO^ :-v] WOWY\c NK^K ^Y cY_\ MYWZ_^O\ Y\ ^Y K ]^Y\KQO MK\N >RO WKX_PKM^_\O\ S] XY^ \O]ZYX]SLVO PY\ NK^K MRKXQO Y\ NK^K VY]] N_O ^Y LK^^O\c NS]MRK\QO *QY VQ WUG VJG 1RVKQPCN 75$ *QUV %CDNG >RO 9Z^SYXKV ?=, 2Y]^ -KLVO KVVYa] cY_ ^Y MYXXOM^ K ?=, UOcLYK\N ^Y ^RO :YMUO^ :- 6Q %QPPGEV C 75$ MG[DQCTF VQ VJG 2QEMGV 2% >_\X YPP ^RO ZYaO\ :V_Q ^RO YZ^SYXKV ?=, 2Y]^ -KLVO ^Y ^RO :YMUO^ :- -YXXOM^ K ?=, UOcLYK\N ^Y ^RO ?=, ZY\^ YP ^RO YZ^SYXKV ?=, 2Y]^ -KLVO -RK\QO ^RO LK^^O\c Y\ MYXXOM^ ^RO +- KNKZ^O\ SP ^RO LK^^O\c ZYaO\ S] VYa CY_ MKXXY^ _]O K ?=, UOcLYK\N SP ^RO LK^^O\c ZYaO\ S] VO]] ^RKX >Y ?=, UOcLYK\N ?]O YXVc K 7SM\Y]YP^ :YMUO^ :- MYWZK^SLVO UOcLYK\N ?]O\] 7KX_KV ! , K]SM =USVV] +PKVKCN 5GVWR AROX _]SXQ ^RO >Y]RSLK :YMUO^ :- PY\ ^RO PS\]^ ^SWO MK\\c Y_^ ^RO SXS^SKV ]O^_Z KMMY\NSXQ ^Y ^RO Z\YMON_\O] LOVYa KP^O\ ^RO L_SV^SX LK^^O\c RK] LOOX MRK\QON 7Y`O ^RO LK^^O\c ]aS^MR ^Y ^RO w]_ZZVcx ZY]S^SYX >RO >Y]RSLK :YMUO^ :- ZYaO\] YX K_^YWK^SMKVVc KXN ^RO AOVMYWO ]M\OOX KZZOK\] >KZ ^RO ]M\OOX ^Y ]^K\^ ^RO PYVVYaSXQ ]O^_Z /bOM_^O ^Y_MR ]M\OOX KVSQXWOX^ AROX ^RO KVSQXWOX^ ]M\OOX KZZOK\] ^KZ ^RO MOX^O\ YP ^RO M\Y]] ^K\QO^ aS^R ^RO ]^cV_] >RO XOb^ ^K\QO^ ZY]S^SYX MRKXQO] _ZYX ^KZZSXQ ^RO ^K\QO^ 0S`O ^KZ] MYWZVO^O ^RO ZY]S^SYXSXQ KVSQXWOX^ >RO ]M\OOX ^ROX MRKXQO] ^Y ^RO =^cV_] ]M\OOX 3 3P K PSXQO\ Y\ KXc Y^RO\ YLTOM^ LO]SNO] ^RO ]^cV_] ^Y_MRO] ^RO ]M\OOX N_\SXQ KVSQXWOX^ ^RO KVSQXWOX^ aSVV LO MKXMOVVON KXN cY_ W_]^ \OZOK^ ^RO Z\YMON_\O <OKN RYa ^Y _]O ^RO ]^cV_] 3 <OKN KXN _XNO\]^KXN ^RO ]^cV_] YZO\K^SYX KXN ^ROX ^KZ 8/B> 0Y\ WY\O SXPY\WK^SYX YX ]^cV_] YZO\K^SYX ]OO w2Ya ^Y ?]O ^RO =^cV_]x SX ^RS] MRKZ^O\ 6OK\X ^RO ZYZ_Z WOX_ YZO\K^SYX 3 <OKN ^RO YX]M\OOX ObZVKXK^SYX KXN ^ROX PYVVYa ^RO SX]^\_M^SYX] . S]ZVKc ^RO ZYZ_Z WOX_ KXN M_^ KXN ZK]^O ^RO NK^K KMMY\NSXQ ^Y ^RO ]M\OOX SX]^\_M^SYX] 3 +P^O\ cY_ PSXS]R ^RO ZK]^O YZO\K^SYX ^RS] ]^KQO S] MYWZVO^ON >KZ 8/B> =O^ ^RO >37/ D98/ 3 AROX ^KZZSXQ ^RO \SQR^ 9 WK\U ^RO MS^c KXN ^RO ^SWO dYXO VS]^ KZZOK\] >KZ ^RO NO]S\ON MS^c KXN ^SWO dYXO 3 AROX ^RO ]O^_Z S] MYWZVO^ON ^KZ 8/B> -YWZVO^O ^RO SXS^SKV ]O^_Z 3 AROX ^RO -YWZVO^O ]M\OOX KZZOK\] ^RO SXS^SKV ]O^_Z S] MYWZVO^ON 3 +P^O\ ^KZZSXQ ^RO ]M\OOX cY_ MKX _]O ^RO >Y]RSLK :YMUO^ :- AROX cY_ ^KZ ^RO -YWZVO^O ]M\OOX ^RO >YNKc ]M\OOX KZZOK\] 0Y\ WY\O SXPY\WK^SYX ]OO w>YNKc ]M\OOXx SX ^RS] MRKZ^O\ ?]O\] 7KX_KV " , K]SM =USVV] 7UKPI C 5& %CTF 6Q KPUGTV C ECTF >_\X YPP ^RO ZYaO\ 3X]O\^ ^RO MK\N aS^R S^] MYX^KM^ ]_\PKMO WO^KV MYX^KM^ ]_\PKMO PKMSXQ ^RO LKMU YP ^RO >Y]RSLK :YMUO^ :- :\O]] NYaX _X^SV K MVSMUSXQ ]Y_XN S] ROK\N 6Q TGOQXG C ECTF >_\X YPP ^RO ZYaO\ 6SQR^Vc Z\O]] NYaX ^RO MK\N _X^SV K MVSMUSXQ ]Y_XN S] ROK\N >RO MK\N aSVV ZYZ Y_^ ]VSQR^Vc P\YW ^RO ]VY^ :_VV ^RO MK\N ]^\KSQR^ _Z ^Y \OWY`O ?]O\] 7KX_KV # , K]SM =USVV] %QPPGEVKPI VQ C %QORWVGT , OPY\O MYXXOM^SXQ cY_\ >Y]RSLK :YMUO^ :- ^Y K MYWZ_^O\ MROMU ^RO PYVVYaSXQ 3 +M^S`O=cXM RK] LOOX SX]^KVVON YX cY_\ MYWZ_^O\ =OO -RKZ^O\ 3 7KUO ]_\O ^RK^ ^RO :YMUO^ :- KXN cY_\ MYWZ_^O\ K\O LY^R ^_\XON YPP 3 >RO ZY]S^SYX YP MYXXOM^SXQ ZY\^ YX ^RO MYWZ_^O\ WKc NSPPO\ KMMY\NSXQ ^Y ^RO MYWZ_^O\ ^cZO 6Q %QPPGEV 7UKPI 6JG 5WRRNKGF %TCFNG -YXXOM^ ^RO M\KNVO ^Y cY_\ MYWZ_^O\ K] ]RYaX SX ^RO SVV_]^\K^SYX LOVYa 3X]O\^ ^RO :YMUO^ :- SX^Y ^RO M\KNVO ?]O\] 7KX_KV , K]SM =USVV] 6Q EQPPGEV FKTGEVN[ WUKPI C EQPPGEVKQP ECDNG -YXXOM^ ^RO :YMUO^ :- NS\OM^Vc ^Y cY_\ MYWZ_^O\ _]SXQ KX YZ^SYXKV ?=, -VSOX^ MKLVO AROX ^RO :YMUO^ :- S] MYXXOM^ON ^Y KXY^RO\ NO`SMO `SK K ?=, -VSOX^ MKLVO NY XY^ ZV_Q ^RO +- KNKZ^O\ NS\OM^Vc SX^Y ^RO :YMUO^ :- K] ^RS] WKc VOKN ^Y SX^O\PO\OXMO 3X]^OKN ZV_Q ^RO +- KNKZ^O\ SX^Y ^RO ZY\^ YX ^RO ?=, -VSOX^ MKLVO MYXXOM^Y\ ?]O\] 7KX_KV , K]SM =USVV] 6QFC[ 5ETGGP AROX cY_ ^_\X YX cY_\ NO`SMO PY\ ^RO PS\]^ ^SWO OKMR NKc Y\ KP^O\ RY_\] YP SXKM^S`S^c cY_vVV ]OO ^RO >YNKc ]M\OOX CY_ MKX KV]Y NS]ZVKc S^ Lc ^KZZSXQ KXN ^ROX >YNKc 9X ^RO >YNKc ]M\OOX cY_ MKX ]OO K^ K QVKXMO SWZY\^KX^ SXPY\WK^SYX PY\ ^RO NKc 0YVVYaSXQ K\O ]YWO YP ^RO ]^K^_] SMYX] cY_ WKc ]OO >KZ ^Y ]aS^MR ^Y K Z\YQ\KW >KZ ^Y `SOa XY^SPSMK^SYX WO]]KQO] >KZ ^Y MRKXQO ^RO `YV_WO VO`OV Y\ ^Y ^_\X ^RO `YV_WO YXYPP >KZ ^Y MRKXQO NK^O KXN ^SWO >KZ ^Y YZOX ^RO YaO\ SXPY\WK^SYX aSXNYa CY_\ NKc K^ K QVKXMO >KZ ^Y `SOa MYXXOM^SYX ]^K^_] >KZ ^Y M\OK^O K XOa S^OW ?]O\] 7KX_KV , K]SM =USVV] 0YVVYaSXQ K\O ]YWO YP ^RO ]^K^_] SMYX] cY_ WKc ]OO =^K^_] 3MYX 7OKXSXQ >_\X] KVV ]Y_XN] YX KXN YPP 7KSX LK^^O\SO] K\O MRK\QSXQ 7KSX LK^^O\SO] K\O VYa 7KSX LK^^O\SO] K\O `O\c VYa 7KSX LK^^O\SO] K\O P_VV -YXXOM^SYX S] KM^S`O =cXMR\YXSdK^SYX S] LOQSXXSXQ Y\ OXNSXQ =cXMR\YXSdK^SYX S] YMM_\\SXQ 8Y^SPSMK^SYX ^RK^ YXO Y\ WY\O SX]^KX^ WO]]KQO] aO\O \OMOS`ON 8Y^SPSMK^SYX ^RK^ YXO Y\ WY\O OWKSV WO]]KQO] aO\O \OMOS`ON 3P WY\O XY^SPSMK^SYX SMYX] XOON ^Y LO NS]ZVKcON ^ROX ^RO\O S] \YYW ^Y NS]ZVKc ^ROW ^RO 8Y^SPSMK^SYX SMYX aSVV NS]ZVKc >KZ ^RO SMYX ^Y `SOa KVV XY^SPSMK^SYX SMYX] ?]O\] 7KX_KV , K]SM =USVV] 2TQITCOU CY_ MKX ]aS^MR P\YW YXO Z\YQ\KW ^Y KXY^RO\ Lc ]OVOM^SXQ S^ P\YW ^RO WOX_ CY_ MKX M_]^YWSdO aRSMR Z\YQ\KW] cY_ ]OO YX ^RS] WOX_ 0Y\ SXPY\WK^SYX ]OO w+NT_]^SXQ =O^^SXQ]x VK^O\ SX ^RS] MRKZ^O\ >Y KMMO]] ]YWO Z\YQ\KW] cY_vVV XOON ^Y ^KZ :\YQ\KW] KXN ^ROX ^RO Z\YQ\KW XKWO CY_ MKX KV]Y ]aS^MR ^Y ]YWO Z\YQ\KW] Lc Z\O]]SXQ K Z\YQ\KW L_^^YX CY_\ NO`SMO RK] YXO Y\ WY\O Z\YQ\KW L_^^YX] VYMK^ON YX ^RO P\YX^ Y\ ]SNO YP ^RO NO`SMO >RO SMYX] YX ^RO L_^^YX] SNOX^SPc ^RO Z\YQ\KW] ^ROc ]aS^MR ^Y =YWO Z\YQ\KW] RK`O KLL\O`SK^ON VKLOV] PY\ MROMU LYbO] KXN N\YZNYaX WOX_] >Y ]OO ^RO P_VV ]ZOVVSXQ YP KX KLL\O`SK^ON VKLOV ^KZ KXN RYVN ^RO ]^cV_] YX ^RO VKLOV . \KQ ^RO ]^cV_] YPP ^RO VKLOV ]Y ^RK^ ^RO MYWWKXN S] XY^ MK\\SON Y_^ >RO PYVVYaSXQ ^KLVO MYX^KSX] K ZK\^SKV VS]^ YP Z\YQ\KW] ^RK^ K\O YX cY_\ NO`SMO 6YYU YX ^RO >Y]RSLK :YMUO^ :- -YWZKXSYX -. PY\ KNNS^SYXKV Z\YQ\KW] ^RK^ cY_ MKX SX]^KVV YX^Y cY_\ NO`SMO 3MYX :\YQ\KW +M^S`O=cXM -KVOXNK\ -YX^KM^] 3XLYb . O]M\SZ^SYX =cXMR\YXSdO SXPY\WK^SYX LO^aOOX cY_\ :YMUO^ :- KXN MYWZ_^O\ 5OOZ ^\KMU YP cY_\ KZZYSX^WOX^] KXN M\OK^O WOO^SXQ \O[_O]^] 5OOZ ^\KMU YP cY_\ P\SOXN] KXN MYVVOKQ_O] =OXN KXN \OMOS`O OWKSV WO]]KQO] :YMUO^ 3X^O\XO^ /bZVY\O\ , \Ya]O AOL KXN A+: ]S^O] KXN NYaXVYKN XOa Z\YQ\KW] KXN PSVO] P\YW ^RO 3X^O\XO^ 8Y^O] >K]U] :YMUO^ /bMOV 7=8 7O]]OXQO\ :YMUO^ AY\N -\OK^O RKXNa\S^^OX Y\ ^cZON XY^O] N\KaSXQ] KXN \OMY\NSXQ] 5OOZ ^\KMU YP cY_\ ^K]U] -\OK^O /bMOV ]Z\OKN]ROO^ Y\ `SOa KXN ONS^ /bMOV ]Z\OKN]ROO^ M\OK^ON YX cY_\ MYWZ_^O\ =OXN KXN \OMOS`O SX]^KX^ WO]]KQO] aS^R cY_\ 7=8 7O]]OXQO\ MYX^KM^] -\OK^O XOa NYM_WOX^] Y\ `SOa KXN ONS^ AY\N NYM_WOX^] M\OK^ON YX cY_\ MYWZ_^O\ ?]O\] 7KX_KV , K]SM =USVV] 0CXKICVKQP $CT CPF %QOOCPF $CT >RO XK`SQK^SYX LK\ S] VYMK^ON K^ ^RO ^YZ YP ^RO ]M\OOX 3^ NS]ZVKc] ^RO KM^S`O Z\YQ\KW KXN M_\\OX^ ^SWO KXN KVVYa] cY_ ^Y ]aS^MR ^Y Z\YQ\KW] KXN MVY]O ]M\OOX] ?]O ^RO MYWWKXN LK\ K^ ^RO LY^^YW YP ^RO ]M\OOX ^Y ZO\PY\W ^K]U] SX Z\YQ\KW] >RO MYWWKXN LK\ SXMV_NO] WOX_ XKWO] L_^^YX] KXN ^RO 3XZ_^ :KXOV L_^^YX >Y M\OK^O K XOa S^OW SX ^RO M_\\OX^ Z\YQ\KW ^KZ 8Oa >Y ]OO ^RO XKWO YP K L_^^YX ^KZ KXN RYVN ^RO ]^cV_] YX ^RO L_^^YX . \KQ ^RO ]^cV_] YPP ^RO L_^^YX ]Y ^RK^ ^RO MYWWKXN S] XY^ MK\\SON Y_^ >KZ ^Y MRKXQO `YV_WO Y\ W_^O ^RO :YMUO^ :- >KZ ^Y [_SMUVc ]OVOM^ K Z\YQ\KW cY_ RK`O \OMOX^Vc _]ON >KZ ^Y ]OVOM^ K Z\YQ\KW >KZ ^Y ]OO KNNS^SYXKV Z\YQ\KW] >KZ ^Y M_]^YWSdO ^RO :YMUO^ :- 8Oa L_^^YX 3XZ_^ ZKXOV L_^^YX , _^^YX] 7OX_ XKWO] ?]O\] 7KX_KV , K]SM =USVV] 2QR WR /GPWU AS^R ZYZ_Z WOX_] cY_ MKX [_SMUVc MRYY]O KX KM^SYX 0Y\ ObKWZVO cY_ MKX _]O ^RO ZYZ_Z WOX_ SX ^RO MYX^KM^ VS]^ ^Y [_SMUVc NOVO^O K MYX^KM^ WKUO K MYZc YP K MYX^KM^ Y\ ]OXN KX OWKSV WO]]KQO ^Y K MYX^KM^ >RO KM^SYX] SX ^RO ZYZ_Z WOX_] `K\c P\YW Z\YQ\KW ^Y Z\YQ\KW >Y KMMO]] K ZYZ_Z WOX_ ^KZ KXN RYVN ^RO ]^cV_] YX ^RO S^OW XKWO ^RK^ cY_ aKX^ ^Y ZO\PY\W ^RO KM^SYX YX AROX ^RO WOX_ KZZOK\] VSP^ ^RO ]^cV_] KXN ^KZ ^RO KM^SYX cY_ aKX^ ^Y ZO\PY\W >Y MVY]O ^RO WOX_ aS^RY_^ ZO\PY\WSXQ KX KM^SYX ^KZ KXcaRO\O Y_^]SNO ^RO WOX_ >KZ KXN RYVN ^Y NS]ZVKc ^RO ZYZ_Z WOX_ 6SP^ ^RO ]^cV_] KXN ^KZ ^RO KM^SYX cY_ aKX^ >KZ Y_^]SNO ^RO WOX_ ^Y MVY]O S^ aS^RY_^ ZO\PY\WSXQ KX KM^SYX 0QVKHKECVKQPU CY_\ NO`SMO \OWSXN] cY_ SX K `K\SO^c YP aKc] aROX cY_ RK`O ]YWO^RSXQ ^Y NY 0Y\ ObKWZVO SP cY_v`O ]O^ _Z KX KZZYSX^WOX^ SX -KVOXNK\ K ^K]U aS^R K N_O NK^O SX >K]U] Y\ KX KVK\W SX -VYMU cY_vVV LO XY^SPSON SX KXc YP ^RO PYVVYaSXQ aKc]$ 3 + WO]]KQO LYb KZZOK\] YX ^RO ]M\OOX 3 + ]Y_XN aRSMR cY_ MKX ]ZOMSPc S] ZVKcON 3 + VSQR^ PVK]RO] YX cY_\ NO`SMO >Y MRYY]O \OWSXNO\ ^cZO] KXN ]Y_XN] PY\ cY_\ NO`SMO ^KZ KXN ^ROX =O^^SXQ] 3X ^RO :O\]YXKV ^KL ^KZ =Y_XN] 8Y^SPSMK^SYX] >RO YZ^SYX] cY_ MRYY]O RO\O KZZVc ^R\Y_QRY_^ ^RO NO`SMO ?]O\] 7KX_KV , K]SM =USVV] 'PVGT +PHQTOCVKQP QP ;QWT 6QUJKDC 2QEMGV 2% CY_ RK`O ]O`O\KV YZ^SYX] PY\ OX^O\SXQ XOa SXPY\WK^SYX$ 3 ?]O ^RO SXZ_^ ZKXOV ^Y OX^O\ ^cZON ^Ob^ OS^RO\ Lc _]SXQ ^RO ]YP^ UOcLYK\N Y\ Y^RO\ SXZ_^ WO^RYN 3 A\S^O NS\OM^Vc YX ^RO ]M\OOX 3 . \Ka ZSM^_\O] YX ^RO ]M\OOX 3 =ZOKU SX^Y cY_\ NO`SMO WSM\YZRYXO ^Y \OMY\N K WO]]KQO 3 ?]O 7SM\Y]YP^Z +M^S`O=cXMZ ^Y ]cXMR\YXSdO Y\ MYZc SXPY\WK^SYX P\YW cY_\ MYWZ_^O\ ^Y cY_\ NO`SMO 0Y\ WY\O SXPY\WK^SYX YX +M^S`O=cXM ]OO +M^S`O=cXM 2OVZ YX cY_\ MYWZ_^O\ 'PVGTKPI 6GZV 7UKPI VJG +PRWV 2CPGN ?]O ^RO SXZ_^ ZKXOV ^Y OX^O\ SXPY\WK^SYX SX KXc Z\YQ\KW YX cY_\ NO`SMO CY_ MKX OS^RO\ ^cZO _]SXQ ^RO ]YP^ UOcLYK\N Y\ a\S^O _]SXQ 6O^^O\ <OMYQXSdO\ , VYMU <OMYQXSdO\ Y\ >\KX]M\SLO\ 3X OS^RO\ MK]O ^RO MRK\KM^O\] KZZOK\ K] ^cZON ^Ob^ YX ^RO ]M\OOX >Y ]RYa Y\ RSNO ^RO SXZ_^ ZKXOV ^KZ ^RO 3XZ_^ :KXOV L_^^YX >KZ ^RO K\\Ya XOb^ ^Y ^RO 3XZ_^ :KXOV L_^^YX ^Y ]OO cY_\ MRYSMO] =OVOM^ KX SXZ_^ WO^RYN >KZ ^Y ]OO cY_\ MRYSMO] 3XZ_^ ZKXOV L_^^YX ?]O\] 7KX_KV ! , K]SM =USVV] AROX cY_ _]O ^RO SXZ_^ ZKXOV cY_\ NO`SMO KX^SMSZK^O] ^RO aY\N cY_ K\O ^cZSXQ Y\ a\S^SXQ KXN NS]ZVKc] S^ KLY`O ^RO SXZ_^ ZKXOV AROX cY_ ^KZ ^RO NS]ZVKcON aY\N S^ S] SX]O\^ON SX^Y cY_\ ^Ob^ K^ ^RO SX]O\^SYX ZYSX^ >RO WY\O cY_ _]O cY_\ NO`SMO ^RO WY\O aY\N] S^ VOK\X] ^Y KX^SMSZK^O >KZ RO\O SP ^RS] S] ^RO \SQR^ aY\N >Y MRKXQO aY\N ]_QQO]^SYX YZ^SYX] ]_MR K] ^RO X_WLO\ YP aY\N] ]_QQO]^ON K^ YXO ^SWO ^KZ =O^^SXQ] :O\]YXKV ^KL 3XZ_^ KXN ^ROX ^RO AY\N -YWZVO^SYX ^KL 6Q V[RG YKVJ VJG UQHV MG[DQCTF >KZ ^RO K\\Ya XOb^ ^Y ^RO 3XZ_^ :KXOV L_^^YX KXN ^ROX 5OcLYK\N 9X ^RO ]YP^ UOcLYK\N ^RK^ S] NS]ZVKcON ^KZ ^RO UOc] aS^R cY_\ ]^cV_] 6Q WUG . GVVGT 4GEQIPK\GT AS^R 6O^^O\ <OMYQXSdO\ cY_ MKX a\S^O VO^^O\] _]SXQ ^RO ]^cV_] T_]^ K] cY_ aY_VN YX ZKZO\ >KZ ^RO K\\Ya XOb^ ^Y ^RO 3XZ_^ :KXOV L_^^YX KXN ^ROX 6O^^O\ <OMYQXSdO\ A\S^O K VO^^O\ SX ^RO LYb AROX cY_ a\S^O K VO^^O\ S^ S] MYX`O\^ON ^Y ^cZON ^Ob^ ^RK^ KZZOK\] YX ^RO ]M\OOX 0Y\ ]ZOMSPSM SX]^\_M^SYX] YX _]SXQ 6O^^O\ <OMYQXSdO\ aS^R 6O^^O\ <OMYQXSdO\ YZOX ^KZ ^RO [_O]^SYX WK\U XOb^ ^Y ^RO a\S^SXQ K\OK ?]O\] 7KX_KV " , K]SM =USVV] 6Q WUG $NQEM 4GEQIPK\GT AS^R , VYMU <OMYQXSdO\ cY_ MKX SXZ_^ MRK\KM^O\ ]^\YUO] _]SXQ ^RO ]^cV_] ^RK^ K\O ]SWSVK\ ^Y ^RY]O _]ON YX Y^RO\ NO`SMO] >KZ ^RO K\\Ya XOb^ ^Y ^RO 3XZ_^ :KXOV L_^^YX KXN ^ROX , VYMU <OMYQXSdO\ A\S^O K VO^^O\ SX ^RO LYb AROX cY_ a\S^O K VO^^O\ S^ S] MYX`O\^ON ^Y ^cZON ^Ob^ ^RK^ KZZOK\] YX ^RO ]M\OOX 0Y\ ]ZOMSPSM SX]^\_M^SYX] YX _]SXQ , VYMU <OMYQXSdO\ aS^R , VYMU <OMYQXSdO\ YZOX ^KZ ^RO [_O]^SYX WK\U XOb^ ^Y ^RO a\S^SXQ K\OK 6Q WUG 6TCPUETKDGT AS^R >\KX]M\SLO\ cY_ MKX a\S^O KXcaRO\O YX ^RO ]M\OOX _]SXQ ^RO ]^cV_] T_]^ K] cY_ aY_VN YX ZKZO\ ?XVSUO 6O^^O\ <OMYQXSdO\ KXN , VYMU <OMYQXSdO\ cY_ MKX a\S^O K ]OX^OXMO Y\ WY\O YP SXPY\WK^SYX >ROX ZK_]O KXN VO^ >\KX]M\SLO\ MRKXQO ^RO a\S^^OX MRK\KM^O\] ^Y ^cZON MRK\KM^O\] >KZ ^RO K\\Ya XOb^ ^Y ^RO 3XZ_^ :KXOV L_^^YX KXN ^ROX >\KX]M\SLO\ A\S^O KXcaRO\O YX ^RO ]M\OOX 0Y\ ]ZOMSPSM SX]^\_M^SYX] YX _]SXQ >\KX]M\SLO\ aS^R >\KX]M\SLO\ YZOX ^KZ ^RO [_O]^SYX WK\U SX ^RO VYaO\ \SQR^ RKXN MY\XO\ YP ^RO ]M\OOX 6Q UGNGEV V[RGF VGZV 3P cY_ aKX^ ^Y ONS^ Y\ PY\WK^ ^cZON ^Ob^ cY_ W_]^ ]OVOM^ S^ PS\]^ 3 . \KQ ^RO ]^cV_] KM\Y]] ^RO ^Ob^ cY_ aKX^ ^Y ]OVOM^ CY_ MKX M_^ MYZc KXN ZK]^O ^Ob^ Lc ^KZZSXQ KXN RYVNSXQ ^RO ]OVOM^ON aY\N] KXN ^ROX ^KZZSXQ KX ONS^SXQ MYWWKXN YX ^RO ZYZ_Z WOX_ Y\ Lc ^KZZSXQ ^RO MYWWKXN YX ^RO /NS^ WOX_ ?]O\] 7KX_KV # , K]SM =USVV] 9TKVKPI QP VJG 5ETGGP 3X KXc Z\YQ\KW ^RK^ KMMOZ^] a\S^SXQ ]_MR K] ^RO 8Y^O] Z\YQ\KW KXN SX ^RO 8Y^O] ^KL SX -KVOXNK\ -YX^KM^] KXN >K]U] cY_ MKX _]O cY_\ ]^cV_] ^Y a\S^O NS\OM^Vc YX ^RO ]M\OOX A\S^O ^RO aKc cY_ NY YX ZKZO\ CY_ MKX ONS^ KXN PY\WK^ aRK^ cY_v`O a\S^^OX KXN MYX`O\^ ^RO SXPY\WK^SYX ^Y ^Ob^ K^ K VK^O\ ^SWO 6Q YTKVG QP VJG UETGGP 3 >KZ ^RO :OX L_^^YX ^Y ]aS^MR ^Y a\S^SXQ WYNO >RS] KM^SYX NS]ZVKc] VSXO] YX ^RO ]M\OOX ^Y ROVZ cY_ a\S^O >KZ ^RO :OX L_^^YX KXN _]O cY_\ ]^cV_] VSUO K ZOX =YWO Z\YQ\KW] ^RK^ KMMOZ^ a\S^SXQ WKc XY^ RK`O ^RO :OX L_^^YX =OO ^RO NYM_WOX^K^SYX PY\ ^RK^ Z\YQ\KW ^Y PSXN Y_^ RYa ^Y ]aS^MR ^Y a\S^SXQ WYNO 6Q UGNGEV YTKVKPI 3P cY_ aKX^ ^Y ONS^ Y\ PY\WK^ a\S^SXQ cY_ W_]^ ]OVOM^ S^ PS\]^ >KZ KXN RYVN ^RO ]^cV_] XOb^ ^Y ^RO ^Ob^ cY_ aKX^ ^Y ]OVOM^ _X^SV ^RO SX]O\^SYX ZYSX^ KZZOK\] AS^RY_^ VSP^SXQ N\KQ ^RO ]^cV_] KM\Y]] ^RO ^Ob^ cY_ aKX^ ^Y ]OVOM^ 3P cY_ KMMSNOX^KVVc a\S^O YX ^RO ]M\OOX ^KZ >YYV] ^ROX ?XNY KXN ^\c KQKSX CY_ MKX KV]Y ]OVOM^ ^Ob^ Lc ^KZZSXQ ^RO :OX L_^^YX ^Y NO]OVOM^ S^ KXN ^ROX N\KQQSXQ ^RO ]^cV_] KM\Y]] ^RO ]M\OOX CY_ MKX M_^ MYZc KXN ZK]^O a\S^^OX ^Ob^ SX ^RO ]KWO aKc cY_ aY\U aS^R ^cZON ^Ob^$ ^KZ KXN RYVN ^RO ]OVOM^ON aY\N] KXN ^ROX ^KZ KX ONS^SXQ MYWWKXN YX ^RO ZYZ_Z WOX_ Y\ ^KZ ^RO MYWWKXN YX ^RO /NS^ WOX_ ?]O\] 7KX_KV , K]SM =USVV] 6Q EQPXGTV YTKVKPI VQ VGZV 3 >KZ >YYV] KXN ^ROX <OMYQXSdO 3P cY_ aKX^ ^Y MYX`O\^ YXVc MO\^KSX aY\N] ]OVOM^ ^ROW LOPY\O ^KZZSXQ <OMYQXSdO YX ^RO >YYV] WOX_ Y\ ^KZ KXN RYVN ^RO ]OVOM^ON aY\N] KXN ^ROX ^KZ <OMYQXSdO YX ^RO ZYZ_Z WOX_ 3P K aY\N S] XY^ \OMYQXSdON S^ S] VOP^ K] a\S^SXQ =OVOM^ ^RO ^Ob^ cY_ aKX^ ^Y MYX`O\^ KXN >KZ <OMYQXSdO YX ^RO ZYZ_Z WOX_ >RO a\S^SXQ S] ^_\XON SX^Y ^Ob^ ?]O\] 7KX_KV , K]SM =USVV] 3P ^RO MYX`O\]SYX S] SXMY\\OM^ cY_ MKX ]OVOM^ NSPPO\OX^ aY\N] P\YW K VS]^ YP KV^O\XK^O] Y\ \O^_\X ^Y ^RO Y\SQSXKV a\S^SXQ >Y NY ]Y ^KZ KXN RYVN ^RO SXMY\\OM^ aY\N ^KZ YXO aY\N K^ K ^SWO 9X ^RO ZYZ_Z WOX_ ^KZ +V^O\XK^O] + WOX_ aS^R K VS]^ YP KV^O\XK^O aY\N] KZZOK\] >KZ ^RO aY\N cY_ aKX^ ^Y _]O Y\ ^KZ ^RO a\S^SXQ K^ ^RO ^YZ YP ^RO WOX_ ^Y \O^_\X ^Y ^RO Y\SQSXKV a\S^SXQ >KZ ^Y \O^_\X ^Y cY_\ Y\SQSXKV a\S^SXQ 9\ ^KZ ^RO aY\N cY_ aKX^ ^Y _]O >SZ] PY\ QO^^SXQ QYYN \OMYQXS^SYX$ A\S^O XOK^Vc 3 A\S^O YX ^RO VSXO] KXN N\Ka NO]MOXNO\] LOVYa ^RO VSXO A\S^O ^RO M\Y]] YP ^RO w^x KXN KZY]^\YZRO] LOVYa ^RO ^YZ VSXO ]Y ^RK^ ^ROc K\O XY^ MYXP_]ON aS^R ^RO aY\N KLY`O A\S^O ZO\SYN] KXN MYWWK] KLY`O ^RO VSXO 3 0Y\ LO^^O\ \OMYQXS^SYX ^\c SXM\OK]SXQ ^RO dYYW VO`OV ^Y _]SXQ ^RO >YYV] WOX_ 3 A\S^O ^RO VO^^O\] YP K aY\N MVY]OVc KXN VOK`O LSQ QKZ] LO^aOOX aY\N] ]Y ^RK^ ^RO NO`SMO MKX OK]SVc ^OVV aRO\O aY\N] LOQSX KXN OXN 3 2cZROXK^ON aY\N] PY\OSQX aY\N] ^RK^ _]O ]ZOMSKV MRK\KM^O\] ]_MR K] KMMOX^] KXN ]YWO Z_XM^_K^SYX MKXXY^ LO MYX`O\^ON 3 3P cY_ KNN a\S^SXQ ^Y K aY\N ^Y MRKXQO S^ ]_MR K] MRKXQSXQ K wx ^Y KX w"x KP^O\ cY_ K^^OWZ^ ^Y \OMYQXSdO ^RO aY\N ^RO a\S^SXQ cY_ KNN aSVV XY^ LO SXMV_NON SP cY_ K^^OWZ^ ^Y \OMYQXSdO ^RO a\S^SXQ KQKSX 3 ?]O\] 7KX_KV , K]SM =USVV] &TCYKPI QP VJG 5ETGGP CY_ MKX N\Ka YX ^RO ]M\OOX SX ^RO ]KWO aKc ^RK^ cY_ a\S^O YX ^RO ]M\OOX >RO NSPPO\OXMO LO^aOOX a\S^SXQ KXN N\KaSXQ YX ^RO ]M\OOX S] RYa cY_ ]OVOM^ S^OW] KXN RYa ^ROc MKX LO ONS^ON 0Y\ ObKWZVO ]OVOM^ON N\KaSXQ] MKX LO \O]SdON aRSVO a\S^SXQ MKXXY^ 6Q ETGCVG C FTCYKPI 3 -\Y]] ^R\OO \_VON VSXO] YX cY_\ PS\]^ ]^\YUO + N\KaSXQ LYb KZZOK\] =_L]O[_OX^ ]^\YUO] SX Y\ ^Y_MRSXQ ^RO N\KaSXQ LYb LOMYWO ZK\^ YP ^RO N\KaSXQ . \KaSXQ] ^RK^ NY XY^ M\Y]] ^R\OO \_VON VSXO] aSVV LO ^\OK^ON K] a\S^SXQ >RO N\KaSXQ LYb SXNSMK^O] ^RO LY_XNK\SO] YP ^RO N\KaSXQ :OX L_^^YX CY_ WKc aKX^ ^Y MRKXQO ^RO dYYW VO`OV ]Y ^RK^ cY_ MKX WY\O OK]SVc aY\U YX Y\ `SOa cY_\ N\KaSXQ >KZ >YYV] KXN ^ROX K dYYW VO`OV 6Q UGNGEV C FTCYKPI 3P cY_ aKX^ ^Y ONS^ Y\ PY\WK^ K N\KaSXQ cY_ W_]^ ]OVOM^ S^ PS\]^ 3 >KZ KXN RYVN ^RO ]^cV_] YX ^RO N\KaSXQ _X^SV ^RO ]OVOM^SYX RKXNVO KZZOK\] >Y ]OVOM^ W_V^SZVO N\KaSXQ] NO]OVOM^ ^RO :OX L_^^YX KXN ^ROX N\KQ ^Y ]OVOM^ ^RO N\KaSXQ] cY_ aKX^ CY_ MKX M_^ MYZc KXN ZK]^O ]OVOM^ON N\KaSXQ] Lc ^KZZSXQ KXN RYVNSXQ ^RO ]OVOM^ON N\KaSXQ KXN ^ROX ^KZZSXQ KX ONS^SXQ MYWWKXN YX ^RO ZYZ_Z WOX_ Y\ Lc ^KZZSXQ ^RO MYWWKXN YX ^RO /NS^ WOX_ >Y \O]SdO K N\KaSXQ WKUO ]_\O ^RO :OX L_^^YX S] XY^ ]OVOM^ON KXN N\KQ K ]OVOM^SYX RKXNVO ?]O\] 7KX_KV , K]SM =USVV] 4GEQTFKPI C /GUUCIG 3X KXc Z\YQ\KW aRO\O cY_ MKX a\S^O Y\ N\Ka YX ^RO ]M\OOX cY_ MKX KV]Y [_SMUVc MKZ^_\O ^RY_QR^] \OWSXNO\] KXN ZRYXO X_WLO\] Lc \OMY\NSXQ K WO]]KQO 3X -KVOXNK\ >K]U] KXN -YX^KM^] cY_ MKX SXMV_NO K \OMY\NSXQ SX ^RO 8Y^O] ^KL 3X ^RO 8Y^O] Z\YQ\KW cY_ MKX OS^RO\ M\OK^O K ]^KXNKVYXO \OMY\NSXQ Y\ SXMV_NO K \OMY\NSXQ SX K a\S^^OX XY^O 3P cY_ aKX^ ^Y SXMV_NO ^RO \OMY\NSXQ SX K XY^O YZOX ^RO XY^O PS\]^ 3X ^RO 3XLYb Z\YQ\KW cY_ MKX KNN K \OMY\NSXQ ^Y KX OWKSV WO]]KQO 6Q ETGCVG C TGEQTFKPI 2YVN cY_\ NO`SMOv] WSM\YZRYXO XOK\ cY_\ WY_^R Y\ Y^RO\ ]Y_\MO YP ]Y_XN :\O]] KXN RYVN ^RO <OMY\NSXQ L_^^YX YX cY_\ :YMUO^ :- _X^SV cY_ ROK\ K LOOZ ARSVO RYVNSXQ NYaX ^RO <OMY\NSXQ L_^^YX WKUO cY_\ \OMY\NSXQ >Y ]^YZ \OMY\NSXQ \OVOK]O ^RO <OMY\NSXQ L_^^YX >aY LOOZ] aSVV ]Y_XN >RO XOa \OMY\NSXQ KZZOK\] SX ^RO XY^O VS]^ Y\ K] KX OWLONNON SMYX CY_ MKX KV]Y WKUO K \OMY\NSXQ Lc ^KZZSXQ ^RO <OMY\NSXQ L_^^YX YX ^RO <OMY\NSXQ ^YYVLK\ >Y ZVKc K \OMY\NSXQ ^KZ S^ SX ^RO VS]^ Y\ ^KZ S^] SMYX SX ^RO XY^O 3XNSMK^O] KX OWLONNON \OMY\NSXQ >KZ ^Y LOQSX \OMY\NSXQ >KZ ^Y ]RYa Y\ RSNO ^RO <OMY\NSXQ ^YYVLK\ ?]O\] 7KX_KV , K]SM =USVV] 7UKPI /[ 6GZV AROX _]SXQ 3XLYb Y\ 7=8 7O]]OXQO\ _]O 7c >Ob^ ^Y [_SMUVc SX]O\^ Z\O]O^ Y\ P\O[_OX^Vc _]ON WO]]KQO] SX^Y ^RO ^Ob^ OX^\c K\OK >Y SX]O\^ K WO]]KQO ^KZ 7c >Ob^ KXN ^KZ K WO]]KQO CY_ MKX KNN ^Ob^ KP^O\ SX]O\^SXQ K 7c >Ob^ WO]]KQO LOPY\O ]OXNSXQ S^ >Y ONS^ K 7c >Ob^ WO]]KQO SX ^RO >YYV] WOX_ ^KZ /NS^ KXN ^ROX ^KZ 7c >Ob^ 7O]]KQO] =OVOM^ ^RO WO]]KQO cY_ aS]R ^Y ONS^ KXN WKUO NO]S\ON MRKXQO] >KZ ^Y ]OVOM^ K Z\Oa\S^^OX WO]]KQO ?]O\] 7KX_KV , K]SM =USVV] (KPF CPF 1TICPK\G +PHQTOCVKQP >RO 0SXN POK^_\O YX cY_\ NO`SMO ROVZ] cY_ [_SMUVc VYMK^O SXPY\WK^SYX 3 9X ^RO WOX_ ^KZ 0SXN /X^O\ ^RO ^Ob^ cY_ aKX^ ^Y PSXN ]OVOM^ K NK^K ^cZO KXN ^ROX ^KZ 1Y ^Y ]^K\^ ^RO ]OK\MR >Y [_SMUVc PSXN SXPY\WK^SYX ^RK^ S] ^KUSXQ _Z ]^Y\KQO ]ZKMO YX cY_\ :YMUO^ :- ]OVOM^ 6K\QO\ ^RKX 5, SX >cZO CY_ MKX KV]Y _]O ^RO 0SVO /bZVY\O\ ^Y PSXN PSVO] YX cY_\ NO`SMO KXN ^Y WOX_ ^KZ :\YQ\KW] KXN ^ROX Y\QKXSdO ^RO]O PSVO] SX^Y PYVNO\] 9X ^RO 0SVO /bZVY\O\ >KZ ^Y MRKXQO PYVNO\] =OVOM^ ^RO ]Y\^ Y\NO\ PY\ ^RO VS]^ >KZ ^RO PYVNO\ XKWO ^Y YZOX S^ >KZ KXN RYVN ^Y M\OK^O K XOa PYVNO\ CY_ MKX WY`O PSVO] SX 0SVO /bZVY\O\ Lc ^KZZSXQ KXN RYVNSXQ ^RO S^OW cY_ aKX^ ^Y WY`O KXN ^ROX ^KZZSXQ -_^ Y\ -YZc KXN :K]^O YX ^RO ZYZ_Z WOX_ ?]O\] 7KX_KV , K]SM =USVV] %WUVQOK\G ;QWT 6QUJKDC 2QEMGV 2% CY_ MKX M_]^YWSdO cY_\ NO`SMO Lc KNT_]^SXQ NO`SMO ]O^^SXQ] KXN SX]^KVVSXQ KNNS^SYXKV ]YP^aK\O #FLWUVKPI 5GVVKPIU CY_ MKX KNT_]^ NO`SMO ]O^^SXQ] ^Y ]_S^ ^RO aKc cY_ aY\U >Y ]OO K`KSVKLVO YZ^SYX] ^KZ =O^^SXQ] ^ROX ^RO :O\]YXKV Y\ =c]^OW ^KL VYMK^ON K^ ^RO LY^^YW YP ^RO ]M\OOX CY_ WSQR^ aKX^ ^Y KNT_]^ ^RO PYVVYaSXQ$ 3 -VYMU ^Y MRKXQO ^RO ^SWO Y\ ^Y ]O^ KVK\W] 3 7OX_] ^Y M_]^YWSdO aRK^ KZZOK\] YX ^RO WOX_ KXN ^Y OXKLVO K ZYZ_Z WOX_ P\YW ^RO 8Oa L_^^YX 3 9aXO\ 3XPY\WK^SYX ^Y OX^O\ cY_\ MYX^KM^ SXPY\WK^SYX 3 :K]]aY\N ^Y VSWS^ KMMO]] ^Y cY_\ NO`SMO 3 :YaO\ ^Y WKbSWSdO LK^^O\c VSPO 3 >YNKc ^Y M_]^YWSdO ^RO VYYU KXN ^RO SXPY\WK^SYX ^RK^ S] NS]ZVKcON YX ^RO >YNKc ]M\OOX #FFKPI QT 4GOQXKPI 2TQITCOU :\YQ\KW] KNNON ^Y cY_\ NO`SMO K^ ^RO PKM^Y\c K\O ]^Y\ON SX <97 \OKN YXVc WOWY\c CY_ MKXXY^ \OWY`O ^RS] ]YP^aK\O KXN cY_vVV XO`O\ KMMSNOX^KVVc VY]O <97 MYX^OX^] <97 Z\YQ\KW] MKX LO _ZNK^ON _]SXQ ]ZOMSKV SX]^KVVK^SYX Z\YQ\KW] aS^R K bSZ Ob^OX]SYX +VV Y^RO\ Z\YQ\KW] KXN NK^K PSVO] KNNON ^Y cY_\ NO`SMO KP^O\ PKM^Y\c SX]^KVVK^SYX K\O ]^Y\ON SX <+7 \KXNYW KMMO]] WOWY\c CY_ MKX SX]^KVV KXc Z\YQ\KW M\OK^ON PY\ cY_\ NO`SMO K] VYXQ K] cY_\ NO`SMO RK] OXY_QR WOWY\c >RO WY]^ ZYZ_VK\ ZVKMO ^Y PSXN ]YP^aK\O PY\ cY_\ NO`SMO S] YX ^RO :YMUO^ :- AOL ]S^O R^^Z$aaaWSM\Y]YP^MYWWYLSVOZYMUO^ZM 6Q CFF RTQITCOU WUKPI #EVKXG5[PE CY_vVV XOON ^Y SX]^KVV ^RO KZZ\YZ\SK^O ]YP^aK\O PY\ cY_\ NO`SMO YX cY_\ MYWZ_^O\ LOPY\O SX]^KVVSXQ S^ YX cY_\ NO`SMO . O^O\WSXO cY_\ NO`SMO KXN Z\YMO]]Y\ ^cZO ]Y ^RK^ cY_ UXYa aRSMR `O\]SYX YP ^RO ]YP^aK\O ^Y SX]^KVV >KZ KXN ^ROX =O^^SXQ] 9X ^RO =c]^OW ^KL ^KZ +LY_^ 3X ^RO @O\]SYX ^KL WKUO K XY^O YP ^RO SXPY\WK^SYX SX :\YMO]]Y\ . YaXVYKN ^RO Z\YQ\KW ^Y cY_\ MYWZ_^O\ Y\ SX]O\^ ^RO -. Y\ NS]U ^RK^ MYX^KSX] ^RO Z\YQ\KW SX^Y cY_\ MYWZ_^O\ CY_ WKc ]OO K ]SXQVO bSZ ObO Y\ dSZ PSVO K =O^_ZObO PSVO Y\ ]O`O\KV `O\]SYX] YP PSVO] PY\ NSPPO\OX^ NO`SMO ^cZO] KXN Z\YMO]]Y\] , O ]_\O ^Y ]OVOM^ ^RO Z\YQ\KW NO]SQXON PY\ ^RO >Y]RSLK :YMUO^ :- KXN cY_\ NO`SMO Z\YMO]]Y\ ^cZO <OKN KXc SX]^KVVK^SYX SX]^\_M^SYX] <OKN 7O PSVO] Y\ NYM_WOX^K^SYX ^RK^ MYWO] aS^R ^RO Z\YQ\KW 7KXc Z\YQ\KW] Z\Y`SNO ]ZOMSKV SX]^KVVK^SYX SX]^\_M^SYX] ?]O\] 7KX_KV ! , K]SM =USVV] -YXXOM^ cY_\ NO`SMO KXN MYWZ_^O\ . Y_LVOMVSMU ^RO ObO PSVO 3 3P ^RO PSVO S] KX SX]^KVVO\ ^RO SX]^KVVK^SYX aSdK\N aSVV LOQSX 0YVVYa ^RO NS\OM^SYX] YX ^RO ]M\OOX 9XMO ^RO ]YP^aK\O RK] LOOX SX]^KVVON YX cY_\ MYWZ_^O\ ^RO SX]^KVVO\ aSVV K_^YWK^SMKVVc ^\KX]PO\ ^RO ]YP^aK\O ^Y cY_\ NO`SMO 3 3P ^RO PSVO S] XY^ KX SX]^KVVO\ cY_ aSVV ]OO KX O\\Y\ WO]]KQO ]^K^SXQ ^RK^ ^RO Z\YQ\KW S] `KVSN L_^ S^ S] NO]SQXON PY\ K NSPPO\OX^ ^cZO YP MYWZ_^O\ CY_ aSVV XOON ^Y WY`O ^RS] PSVO ^Y cY_\ NO`SMO 3P cY_ MKXXY^ PSXN KXc SX]^KVVK^SYX SX]^\_M^SYX] PY\ ^RO Z\YQ\KW SX ^RO <OKN 7O PSVO Y\ NYM_WOX^K^SYX _]O +M^S`O=cXM /bZVY\O ^Y MYZc ^RO Z\YQ\KW PSVO ^Y ^RO :\YQ\KW 0SVO] PYVNO\ YX cY_\ NO`SMO 0Y\ WY\O SXPY\WK^SYX YX MYZcSXQ PSVO] _]SXQ +M^S`O=cXM ]OO +M^S`O=cXM 2OVZ 9XMO SX]^KVVK^SYX S] MYWZVO^O ^KZ :\YQ\KW] KXN ^ROX ^RO Z\YQ\KW SMYX ^Y ]aS^MR ^Y S^ 6Q CFF C RTQITCO VQ VJG 5VCTV OGPW >KZ =O^^SXQ] 7OX_] ^RO =^K\^ 7OX_ ^KL KXN ^ROX WK\U ^RO MROMU LYb PY\ ^RO Z\YQ\KW 3P cY_ NY XY^ ]OO ^RO Z\YQ\KW VS]^ON cY_ MKX OS^RO\ _]O 0SVO /bZVY\O\ YX ^RO NO`SMO ^Y WY`O ^RO Z\YQ\KW ^Y ^RO =^K\^ 7OX_ PYVNO\ Y\ _]O +M^S`O=cXM YX ^RO MYWZ_^O\ ^Y M\OK^O K ]RY\^M_^ ^Y ^RO Z\YQ\KW KXN ZVKMO ^RO ]RY\^M_^ SX ^RO =^K\^ 7OX_ PYVNO\ 3 ?]SXQ 0SVO /bZVY\O\ YX ^RO NO`SMO$>KZ :\YQ\KW] 0SVO /bZVY\O\ KXN VYMK^O ^RO Z\YQ\KW ^KZ ^RO PYVNO\ VS]^ VKLOVVON 7c . YM_WOX^] Lc NOPK_V^ KXN ^ROX 7c . O`SMO ^Y ]OO K VS]^ YP KVV PYVNO\] YX ^RO NO`SMO >KZ KXN RYVN ^RO Z\YQ\KW KXN ^KZ -_^ YX ^RO ZYZ_Z WOX_ 9ZOX ^RO =^K\^ 7OX_ PYVNO\ VYMK^ON SX ^RO ASXNYa] PYVNO\ ^KZ KXN RYVN K LVKXU K\OK YP ^RO aSXNYa KXN ^KZ :K]^O YX ^RO ZYZ_Z WOX_ >RO Z\YQ\KW aSVV XYa KZZOK\ YX ^RO WOX_ 0Y\ WY\O SXPY\WK^SYX YX _]SXQ 0SVO /bZVY\O\ ]OO w0SXN KXN 9\QKXSdO 3XPY\WK^SYXx OK\VSO\ SX ^RS] MRKZ^O\ 3 ?]SXQ +M^S`O=cXM YX ^RO MYWZ_^O\$?]O ^RO /bZVY\O\ SX +M^S`O=cXM ^Y ObZVY\O cY_\ NO`SMO PSVO] KXN VYMK^O ^RO Z\YQ\KW <SQR^MVSMU ^RO Z\YQ\KW KXN ^ROX MVSMU -\OK^O =RY\^M_^ 7Y`O ^RO ]RY\^M_^ ^Y ^RO =^K\^ 7OX_ PYVNO\ SX ^RO ASXNYa] PYVNO\ >RO ]RY\^M_^ XYa KZZOK\] YX ^RO WOX_ 0Y\ WY\O SXPY\WK^SYX ]OO +M^S`O=cXM 2OVZ 6Q TGOQXG RTQITCOU 3 >KZ KXN ^ROX =O^^SXQ] 9X ^RO =c]^OW ^KL ^KZ <OWY`O :\YQ\KW] 3P ^RO Z\YQ\KW NYO] XY^ KZZOK\ SX ^RO VS]^ YP SX]^KVVON Z\YQ\KW] _]O 0SVO /bZVY\O\ YX cY_\ NO`SMO ^Y VYMK^O ^RO Z\YQ\KW ^KZ KXN RYVN ^RO Z\YQ\KW KXN ^ROX ^KZ . OVO^O YX ^RO ZYZ_Z WOX_ ?]O\] 7KX_KV " , K]SM =USVV] 5GVVKPI 2CUUYQTF CY_ MKX Z\Y^OM^ NK^K Y\ ]O^^SXQ] P\YW K ^RS\N ZO\]YX Lc ]O^^SXQ K ZK]]aY\N aRSMR S] \O[_O]^ON aROX ^_\XSXQ ZYaO\ YX >KZ KXN ^ROX =O^^SXQ] 9X ^RO :O\]YXKV ^KL ^KZ :K]]aY\N =OVOM^ ^RO ^cZO YP ZK]]aY\N cY_ aY_VN VSUO ^Y _]O /X^O\ K ZK]]aY\N KXN ^KZ 95 >KZ C/= YX ^RO MYXPS\WK^SYX ]M\OOX >RO ZK]]aY\N S] ]K`ON KXN ^RO ]M\OOX \O^_\X] ^Y ^RO :O\]YXKV ^KL ]M\OOX 3P cY_ ^KL C/= YX ^RO MYXPS\WK^SYX ]M\OOX ^Y \O^_\X ^Y ^RO :O\]YXKV ^KL ]M\OOX S^ LOMYWO] XOMO]]K\c ^Y OX^O\ ^RO ZK]]aY\N O`OX PY\ NS]ZVKcSXQ ^RO :K]]aY\N ]O^^SXQ ]M\OOX 3X MK]O cY_ PY\QO^ ^RO ZK]]aY\N S^ S] XOMO]]K\c ^Y SXS^SKVSdO ^RO :YMUO^ :- :VOK]O XY^O ^RK^ aROX SXS^SKVSdK^SYX S] ObOM_^ON NK^K Y\ ]O^^SXQ] ]^Y\ON SX ^RO :YMUO^ :- K\O KVV NOVO^ON 6Q 5GV 5ETGGP NKIJV CY_ MKX ]O^ ^RO ]M\OOX L\SQR^XO]] PY\ LO^^O\ ]SQR^ KMMY\NSXQ ^Y K ZVKMO YP _]O CY_ MKX KV]Y ]O^ ^RO ^SWO ^RK^ OVKZ]O] _X^SV ^RO ]M\OOX VSQR^ ^_\X] YPP K_^YWK^SMKVVc KP^O\ ^RO VK]^ YZO\K^SYX KXN ^ROX =O^^SXQ] 9X ^RO =c]^OW ^KL ^KZ =M\OOX VSQR^ >KZ =O^ ^RO =M\OOX VSQR^ YX LK^^O\c ZYaO\ -ROMU ^Y KM^S`K^O ZYaO\ ]K`O WYNO 3^ aSVV WKUO ^RO ]M\OOX VSQR^ ^_\X YPP K_^YWK^SMKVVc aROX ^RO :YMUO^ :- RK] XY^ LOOX _]ON PY\ K _]O\]O^ KWY_X^ YP ^SWO =O^ ^RO ^SWO ^RK^ OVKZ]O] _X^SV ^RO ]M\OOX VSQR^ ^_\X] YPP K_^YWK^SMKVVc -ROMU ^Y WKUO ^RO ]M\OOX VSQR^ ^_\X YX K_^YWK^SMKVVc aROX K L_^^YX S] Z\O]]ON Y\ ^RO ]M\OOX S] ^KZZON ?]O\] 7KX_KV # , K]SM =USVV] Y\ ]O^ ^RO ]M\OOX VSQR^ YX /b^O\XKV ZYaO\ =O^ ^RO , \SQR^XO]] VO`OV >KZ KXN ]O^ ^RO ]M\OOX VSQR^ L\SQR^XO]] VO`OV Lc WY`SXQ ^RO M_\]Y\ _Z Y\ NYaX 3P :YaO\ =K`O S] KM^S`K^ON ^RO ]M\OOX VSQR^ ^_\X] YPP AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO =c]^OW ^KL ]M\OOX ?]O\] 7KX_KV , K]SM =USVV] 5GVVKPI 2QYGT CY_ MKX ]O^ ^Y MYXPS\W ^RO L_SV^SX LK^^O\c \OWKSXSXQ ZYaO\ KXN ^RO ^SWO ^RK^ OVKZ]O] _X^SV ^RO ZYaO\ ^_\X] YPP KP^O\ ^RO VK]^ YZO\K^SYX >KZ KXN ^ROX =O^^SXQ] 9X ^RO =c]^OW ^KL ^KZ :YaO\ =O^ ^RO :YaO\ AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO =c]^OW ^KL ]M\OOX 5GVVKPI /GOQT[ CY_ MKX KNT_]^ ^RO NK^K ]^Y\SXQ WOWY\c KXN ^RO Z\YQ\KW \_XXSXQ WOWY\c CY_ MKX KV]Y MYXPS\W ^RO P\OO ]ZKMO YP K ]^Y\KQO MK\N KXN ]Y YX 7OWY\c PY\ ^RO :YMUO^ :- S] WKXKQON K_^YWK^SMKVVc 6Q EJCPIG /GOQT[ CNNQECVKQP KXN ^ROX =O^^SXQ] 9X ^RO =c]^OW ^KL ^KZ 7OWY\c ^Y NS]ZVKc >KZ ^RO 7OWY\c ]O^^SXQ ]M\OOX . \KQ ^RO UXYL aSN^RaS]O ^Y KNT_]^ ^RO WOWY\c KVVYMK^SYX LO^aOOX =^Y\KQO KXN :\YQ\KW AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO =c]^OW ^KL ]M\OOX ?]O\] 7KX_KV , K]SM =USVV] 6Q EQPHKTO WUCIG UVCVWU QH C UVQTCIG ECTF >KZ =^Y\KQO MK\N ^KL YX ^RO 7OWY\c ]O^^SXQ ]M\OOX AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO =c]^OW ^KL ]M\OOX 6Q TGNGCUG OGOQT[ 3P WOWY\c S] \_XXSXQ ]RY\^ YP S^] MKZKMS^c SO O\\Y\ WO]]KQO NS]ZVKc ^RO PYVVYaSXQ WO^RYN] K\O K`KSVKLVO ^Y \OVOK]O ^RO WOWY\c 3 >\KX]PO\ NK^K ^Y K ]^Y\KQO MK\N KXN ^RO VSUO KXN NOVO^O ^ROW P\YW ^RO :YMUO^ :- 3 . OVO^O _XXOMO]]K\c PSVO] 3 ;_S^ K Z\YQ\KW SX ObOM_^SYX 3 . OVO^O K Z\YQ\KW XY^ SX _]O 0Y\ WY\O SXPY\WK^SYX YX NO^KSVON YZO\K^SYX WO^RYN Y\ ^RO WOWY\c \OVOK]O WO^RYN Y^RO\ ^RKX ^RO KLY`O ]OO YXVSXO ROVZ 5GVVKPI /KETQRJQPG >KZ KXN then =O^^SXQ]. 3 >RS] Z\YQ\KW S] ]O^^SXQ +1- /XKLVO Y\ . S]KLVO 3 /XKLVO +1-$ >_\X YX K_^YWK^SM QKSX MYX^\YV PY\ 7SM\YZRYXO 3 . S]KLVO +1-$ +NYZ^ K PSb QKSXv] PY\ 7SM\YZRYXO ?]O\] 7KX_KV 7SM\Y]YP^ +M^S`O=cXM 615*+$# 2QEMGV 2% G %JCRVGT /KETQUQHV #EVKXG5[PE ?]SXQ 7SM\Y]YP^Z +M^S`O=cXMZ cY_ MKX ]cXMR\YXSdO ^RO SXPY\WK^SYX YX cY_\ MYWZ_^O\ aS^R ^RO SXPY\WK^SYX YX cY_\ :YMUO^ :- =cXMR\YXSdK^SYX MYWZK\O] ^RO NK^K YX cY_\ NO`SMO aS^R cY_\ MYWZ_^O\ KXN _ZNK^O] LY^R aS^R ^RO WY]^ \OMOX^ SXPY\WK^SYX 0Y\ ObKWZVO$ 3 5OOZ :YMUO^ 9_^VYYU NK^K _Z^YNK^O Lc ]cXMR\YXSdSXQ cY_\ NO`SMO aS^R 7SM\Y]YP^ 9_^VYYU NK^K YX cY_\ MYWZ_^O\ 3 =cXMR\YXSdO 7SM\Y]YP^ AY\N KXN 7SM\Y]YP^ /bMOV PSVO] LO^aOOX cY_\ NO`SMO KXN MYWZ_^O\ CY_\ PSVO] K\O K_^YWK^SMKVVc MYX`O\^ON ^Y ^RO MY\\OM^ PY\WK^ , c NOPK_V^ +M^S`O=cXM NYO] XY^ K_^YWK^SMKVVc ]cXMR\YXSdO KVV ^cZO] YP SXPY\WK^SYX ?]O +M^S`O=cXM YZ^SYX] ^Y ^_\X ]cXMR\YXSdK^SYX YX KXN YPP PY\ ]ZOMSPSM SXPY\WK^SYX ^cZO] AS^R +M^S`O=cXM cY_ MKX KV]Y$ 3 , KMU _Z KXN \O]^Y\O cY_\ NO`SMO NK^K 3 -YZc \K^RO\ ^RKX ]cXMR\YXSdO PSVO] LO^aOOX cY_\ NO`SMO KXN MYWZ_^O\ 3 -YX^\YV aROX ]cXMR\YXSdK^SYX YMM_\] Lc ]OVOM^SXQ K ]cXMR\YXSdK^SYX WYNO 0Y\ ObKWZVO cY_ MKX ]cXMR\YXSdO MYX^SX_KVVc aRSVO MYXXOM^ON ^Y cY_\ MYWZ_^O\ Y\ YXVc aROX cY_ MRYY]O ^RO ]cXMR\YXSdO MYWWKXN 3 =OVOM^ aRSMR SXPY\WK^SYX ^cZO] K\O ]cXMR\YXSdON KXN MYX^\YV RYa W_MR NK^K S] ]cXMR\YXSdON 0Y\ ObKWZVO cY_ MKX MRYY]O RYa WKXc aOOU] YP ZK]^ KZZYSX^WOX^] cY_ aKX^ ]cXMR\YXSdON , OPY\O cY_ LOQSX ]cXMR\YXSdK^SYX SX]^KVV +M^S`O=cXM YX cY_\ MYWZ_^O\ P\YW ^RO >Y]RSLK :YMUO^ :- -YWZKXSYX -. +M^S`O=cXM S] KV\OKNc SX]^KVVON YX cY_\ NO`SMO +P^O\ SX]^KVVK^SYX S] MYWZVO^O ^RO +M^S`O=cXM =O^_Z ASdK\N ROVZ] cY_ MYXXOM^ cY_\ :YMUO^ :- ^Y cY_\ MYWZ_^O\ ]O^ _Z K ZK\^XO\]RSZ ]Y cY_ MKX ]cXMR\YXSdO SXPY\WK^SYX LO^aOOX cY_\ :YMUO^ :- KXN cY_\ MYWZ_^O\ KXN M_]^YWSdO cY_\ ]cXMR\YXSdK^SYX ]O^^SXQ] CY_\ PS\]^ ]cXMR\YXSdK^SYX Z\YMO]] aSVV K_^YWK^SMKVVc LOQSX aROX cY_ PSXS]R _]SXQ ^RO aSdK\N 7UGThU 7KX_KV ?]O\] /CPWCN 7SM\Y]YP^ +M^S`O=cXM +P^O\ cY_\ PS\]^ ]cXMR\YXSdK^SYX ^KUO K VYYU K^ -KVOXNK\ -YX^KM^] KXN >K]U] YX cY_\ NO`SMO CY_vVV XY^SMO ^RK^ SXPY\WK^SYX cY_v`O ]^Y\ON SX 7SM\Y]YP^ 9_^VYYU YX cY_\ MYWZ_^O\ RK] LOOX MYZSON ^Y cY_\ NO`SMO KXN cY_ NSNXv^ RK`O ^Y ^cZO K aY\N . S]MYXXOM^ cY_\ NO`SMO P\YW cY_\ MYWZ_^O\ KXN cY_v\O \OKNc ^Y QY 9XMO cY_ RK`O ]O^ _Z +M^S`O=cXM KXN MYWZVO^ON ^RO PS\]^ ]cXMR\YXSdK^SYX Z\YMO]] cY_ MKX SXS^SK^O ]cXMR\YXSdK^SYX P\YW cY_\ NO`SMO >Y ]aS^MR ^Y +M^S`O=cXM YX cY_\ NO`SMO ^KZ KXN ^ROX ^KZ +M^S`O=cXM 0Y\ SXPY\WK^SYX KLY_^ _]SXQ +M^S`O=cXM YX cY_\ MYWZ_^O\ ]^K\^ +M^S`O=cXM YX cY_\ MYWZ_^O\ KXN ^ROX ]OO +M^S`O=cXM 2OVZ 0Y\ WY\O SXPY\WK^SYX KLY_^ +M^S`O=cXM YX cY_\ NO`SMO ]aS^MR ^Y +M^S`O=cXM ^KZ KXN ^ROX ^KZ 2OVZ @SOa MYXXOM^SYX ]^K^_] >KZ ^Y MYXXOM^ KXN ]cXMR\YXSdO >KZ ^Y ]^YZ ]cXMR\YXSdK^SYX @SOa ]cXMR\YXSdK^SYX ]^K^_] >KZ ^Y ]cXMR\SXSdO `SK 3< Y\ MRKXQO ]cXMR\YXSdK^SYX ]O^^SXQ] ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 615*+$# 2QEMGV 2% G %JCRVGT /KETQUQHV 2QEMGV 1WVNQQM 7SM\Y]YP^Z :YMUO^ 9_^VYYU SXMV_NO] -KVOXNK\ -YX^KM^] >K]U] 3XLYb KXN 8Y^O] CY_ MKX _]O ^RO]O Z\YQ\KW] SXNS`SN_KVVc Y\ ^YQO^RO\ 0Y\ ObKWZVO OWKSV KNN\O]]O] ]^Y\ON SX -YX^KM^] MKX LO _]ON ^Y KNN\O]] OWKSV WO]]KQO] SX 3XLYb ?]SXQ +M^S`O=cXMZ cY_ MKX ]cXMR\YXSdO SXPY\WK^SYX SX 7SM\Y]YP^ 9_^VYYU Y\ 7SM\Y]YP^ /bMRKXQO YX cY_\ MYWZ_^O\ aS^R cY_\ NO`SMO CY_ MKX KV]Y ]cXMR\YXSdO ^RS] SXPY\WK^SYX NS\OM^Vc aS^R K 7SM\Y]YP^ /bMRKXQO ]O\`O\ /KMR ^SWO cY_ ]cXMR\YXSdO +M^S`O=cXM MYWZK\O] ^RO MRKXQO] cY_ WKNO YX cY_\ NO`SMO KXN MYWZ_^O\ Y\ ]O\`O\ KXN _ZNK^O] LY^R aS^R ^RO VK^O]^ SXPY\WK^SYX 0Y\ SXPY\WK^SYX YX _]SXQ +M^S`O=cXM ]OO +M^S`O=cXM 2OVZ YX ^RO MYWZ_^O\ CY_ MKX ]aS^MR ^Y KXc YP ^RO]O Z\YQ\KW] Lc ^KZZSXQ ^ROW YX ^RO WOX_ 7UGThU 7KX_KV ?]O\] /CPWCN 7SM\Y]YP^ :YMUO^ 9_^VYYU %CNGPFCT 5EJGFWNKPI #RRQKPVOGPVU CPF /GGVKPIU ?]O -KVOXNK\ ^Y ]MRON_VO KZZYSX^WOX^] SXMV_NSXQ WOO^SXQ] KXN Y^RO\ O`OX^] CY_ MKX MROMU cY_\ KZZYSX^WOX^] SX YXO YP ]O`O\KV `SOa] +QOXNK . Kc AOOU 7YX^R KXN COK\ KXN OK]SVc ]aS^MR `SOa] Lc _]SXQ ^RO @SOa WOX_ >KZ ^Y QY ^Y ^YNKc >KZ ^Y NS]ZVKc Y\ ONS^ ^RO KZZYSX^WOX^ NO^KSV] >KZ ^Y M\OK^O K XOa KZZYSX^WOX^ CY_ MKX M_]^YWSdO ^RO -KVOXNK\ NS]ZVKc ]_MR K] MRKXQSXQ ^RO PS\]^ NKc YP ^RO aOOU Lc ^KZZSXQ 9Z^SYX] YX ^RO >YYV] WOX_ ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 6Q ETGCVG CP CRRQKPVOGPV 3P cY_ K\O SX . Kc Y\ AOOU `SOa ^KZ ^RO NO]S\ON NK^O KXN ^SWO PY\ ^RO KZZYSX^WOX^ >KZ 8Oa >KZ ^Y \O^_\X ^Y ^RO MKVOXNK\ ^RO KZZYSX^WOX^ S] ]K`ON K_^YWK^SMKVVc >KZ ^Y MRYY]O P\YW Z\ONOPSXON ^Ob^ >KZ ^Y MRYY]O P\YW Z\O`SY_]Vc OX^O\ON VYMK^SYX] >KZ ^Y ]OVOM^ K ^SWO >KZ ^Y ]OVOM^ K NK^O 8Y^O] S] K QYYN ZVKMO PY\ WKZ] KXN NS\OM^SYX] ?]SXQ ^RO SXZ_^ ZKXOV OX^O\ K NO]M\SZ^SYX KXN K VYMK^SYX >KZ PS\]^ ^Y ]OVOM^ ^RO PSOVN 3P XOONON ^KZ ^RO NK^O KXN ^SWO ^Y MRKXQO ^ROW /X^O\ Y^RO\ NO]S\ON SXPY\WK^SYX CY_ aSVV XOON ^Y RSNO ^RO SXZ_^ ZKXOV ^Y ]OO KVV K`KSVKLVO PSOVN] >Y KNN XY^O] ^KZ ^RO 8Y^O] ^KL CY_ MKX OX^O\ ^Ob^ N\Ka Y\ M\OK^O K \OMY\NSXQ 0Y\ WY\O SXPY\WK^SYX YX M\OK^SXQ XY^O] ]OO w8Y^O]$ -KZ^_\SXQ >RY_QR^] KXN 3NOK]x VK^O\ SX ^RS] MRKZ^O\ !AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO MKVOXNK\ 3P cY_ ]OVOM^ <OWSXN WO SX KX KZZYSX^WOX^ cY_\ NO`SMO aSVV \OWSXN cY_ KMMY\NSXQ ^Y ^RO YZ^SYX] ]O^ SX =O^^SXQ] :O\]YXKV ^KL =Y_XN] 8Y^SPSMK^SYX] ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 7UKPI VJG 5WOOCT[ 5ETGGP AROX cY_ ^KZ KX KZZYSX^WOX^ SX -KVOXNK\ K ]_WWK\c ]M\OOX S] NS]ZVKcON >Y MRKXQO ^RO KZZYSX^WOX^ ^KZ /NS^ @SOa KZZYSX^WOX^ NO^KSV] @SOa >KZ ^Y MRKXQO KZZYSX^WOX^ %TGCVKPI /GGVKPI 4GSWGUVU CY_ MKX _]O -KVOXNK\ ^Y ]O^ _Z WOO^SXQ] aS^R _]O\] YP 9_^VYYU Y\ :YMUO^ 9_^VYYU >RO WOO^SXQ \O[_O]^ aSVV LO M\OK^ON K_^YWK^SMKVVc KXN ]OX^ OS^RO\ aROX cY_ ]cXMR\YXSdO 3XLYb Y\ aROX cY_ MYXXOM^ ^Y cY_\ OWKSV ]O\`O\ 3XNSMK^O RYa cY_ aKX^ WOO^SXQ \O[_O]^] ]OX^ Lc ^KZZSXQ >YYV] KXN ^ROX 9Z^SYX] 3P cY_ ]OXN KXN \OMOS`O OWKSV WO]]KQO] ^R\Y_QR +M^S`O=cXM ]OVOM^ +M^S`O=cXM >Y ]MRON_VO K WOO^SXQ$ -\OK^O KX KZZYSX^WOX^ Lc ^KZZSXQ 8Oa 3X ^RO KZZYSX^WOX^ NO^KSV] RSNO ^RO SXZ_^ ZKXOV KXN ^ROX ^KZ +^^OXNOO] 0\YW ^RO VS]^ YP OWKSV KNN\O]]O] cY_v`O OX^O\ON SX -YX^KM^] ]OVOM^ ^RO WOO^SXQ K^^OXNOO] >RO WOO^SXQ XY^SMO S] M\OK^ON K_^YWK^SMKVVc KXN ZVKMON SX ^RO 9_^LYb PYVNO\ 0Y\ WY\O SXPY\WK^SYX YX ]OXNSXQ KXN \OMOS`SXQ WOO^SXQ \O[_O]^] ]OO -KVOXNK\ 2OVZ KXN 3XLYb 2OVZ YX ^RO NO`SMO ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU %QPVCEVU 6TCEMKPI (TKGPFU CPF %QNNGCIWGU -YX^KM^] WKSX^KSX] K VS]^ YP cY_\ P\SOXN] KXN MYVVOKQ_O] ]Y ^RK^ cY_ MKX OK]SVc PSXN ^RO SXPY\WK^SYX cY_v\O VYYUSXQ PY\ aRO^RO\ cY_v\O K^ RYWO Y\ YX ^RO \YKN ?]SXQ ^RO NO`SMO SXP\K\ON 3< ZY\^ cY_ MKX [_SMUVc ]RK\O -YX^KM^] SXPY\WK^SYX aS^R Y^RO\ NO`SMO _]O\] =OVOM^ ^RO MK^OQY\c YP MYX^KM^] cY_ aKX^ NS]ZVKcON SX ^RO VS]^ >KZ KXN OX^O\ ZK\^ YP K XKWO ^Y [_SMUVc PSXN S^ SX ^RO VS]^ >KZ ^Y ]OO KNNS^SYXKV ZRYXO X_WLO\] KXN OWKSV KNN\O]]O] >KZ ^Y NS]ZVKc Y\ ONS^ ^RO MYX^KM^ NO^KSV] >KZ KXN RYVN ^Y NS]ZVKc K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y M\OK^O K XOa MYX^KM^ >Y MRKXQO ^RO aKc SXPY\WK^SYX S] NS]ZVKcON SX ^RO VS]^ ^KZ >YYV] KXN ^ROX 9Z^SYX] ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 6Q ETGCVG C EQPVCEV >KZ 8Oa >KZ ^Y \O^_\X ^Y ^RO MYX^KM^ VS]^ ^RO MYX^KM^ S] ]K`ON K_^YWK^SMKVVc =M\YVV ^Y ]OO WY\O PSOVN] 8Y^O] S] K QYYN ZVKMO PY\ WKZ] KXN NS\OM^SYX] ?]SXQ ^RO SXZ_^ ZKXOV OX^O\ K XKWO KXN Y^RO\ MYX^KM^ SXPY\WK^SYX CY_ aSVV XOON ^Y ]M\YVV NYaX ^Y ]OO KVV K`KSVKLVO PSOVN] >Y K]]SQX ^RO MYX^KM^ ^Y K MK^OQY\c ]M\YVV ^Y KXN ^KZ -K^OQY\SO] KXN ]OVOM^ K MK^OQY\c P\YW ^RO VS]^ 3X ^RO MYX^KM^ VS]^ cY_ MKX NS]ZVKc MYX^KM^] Lc MK^OQY\c >Y KNN XY^O] ^KZ ^RO 8Y^O] ^KL CY_ MKX OX^O\ ^Ob^ N\Ka Y\ M\OK^O K \OMY\NSXQ 0Y\ WY\O SXPY\WK^SYX YX M\OK^SXQ XY^O] ]OO w8Y^O]$ -KZ^_\SXQ >RY_QR^] KXN 3NOK]x VK^O\ SX ^RS] MRKZ^O\ AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO MYX^KM^ VS]^ (KPFKPI C EQPVCEV >RO\O K\O PY_\ aKc] ^Y PSXN K MYX^KM^$ 3 3X ^RO MYX^KM^ VS]^ OX^O\ K MYX^KM^ XKWO SX ^RO LYb _XNO\ ^RO XK`SQK^SYX LK\ >Y ]RYa KVV MYX^KM^] KQKSX MVOK\ ^Ob^ P\YW ^RO LYb Y\ ^KZ ^RO L_^^YX ^Y ^RO \SQR^ YP ^RO LYb 3 3X ^RO MYX^KM^ VS]^ ^KZ ^RO MK^OQY\c VS]^ VKLOVVON +VV -YX^KM^] Lc NOPK_V^ KXN ]OVOM^ ^RO ^cZO YP MYX^KM^ ^RK^ cY_ aKX^ NS]ZVKcON >Y ]RYa KVV MYX^KM^] KQKSX ]OVOM^ +VV -YX^KM^] >Y `SOa K MYX^KM^ XY^ K]]SQXON ^Y K MK^OQY\c ]OVOM^ 8Y -K^OQY\SO] 3 >Y `SOa ^RO XKWO] YP MYWZKXSO] cY_\ MYX^KM^] aY\U PY\ SX ^RO MYX^KM^ VS]^ ^KZ @SOa ( , c -YWZKXc >RO X_WLO\ YP MYX^KM^] ^RK^ aY\U PY\ ^RK^ MYWZKXc aSVV LO NS]ZVKcON ^Y ^RO \SQR^ YP ^RO MYWZKXc XKWO 3 >KZ 0SXN OX^O\ ^RO MYX^KM^ XKWO ]OVOM^ -YX^KM^] PY\ ^RO ^cZO KXN ^ROX ^KZ 1Y ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 7UKPI VJG 5WOOCT[ 5ETGGP AROX cY_ ^KZ K MYX^KM^ SX ^RO MYX^KM^ VS]^ K ]_WWK\c ]M\OOX S] NS]ZVKcON >Y MRKXQO ^RO MYX^KM^ SXPY\WK^SYX ^KZ /NS^ @SOa MYX^KM^ NO^KSV] >KZ ^Y MRKXQO MYX^KM^ SXPY\WK^SYX >KZ ^Y `SOa XY^O] ?]O\] 7KX_KV ! 7SM\Y]YP^ :YMUO^ 9_^VYYU 6CUMU -GGRKPI C 6Q &Q . KUV ?]O >K]U] ^Y UOOZ ^\KMU YP aRK^ cY_ RK`O ^Y NY =OVOM^ ^RO MK^OQY\c YP ^K]U] cY_ aKX^ NS]ZVKcON SX ^RO VS]^ =OVOM^ ^RO ]Y\^ Y\NO\ YP ^RO VS]^ 3XNSMK^O] RSQR Z\SY\S^c >KZ ^Y NS]ZVKc Y\ ONS^ ^RO ^K]U NO^KSV] >KZ KXN RYVN ^Y NS]ZVKc K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y M\OK^O K XOa ^K]U >Y MRKXQO ^RO aKc SXPY\WK^SYX S] NS]ZVKcON SX ^RO VS]^ ^KZ >YYV] KXN ^ROX 9Z^SYX] ?]O\] 7KX_KV " 7SM\Y]YP^ :YMUO^ 9_^VYYU 6Q ETGCVG C VCUM >KZ 8Oa >KZ ^Y \O^_\X ^Y ^RO ^K]U VS]^ ^RO ^K]U S] ]K`ON K_^YWK^SMKVVc >KZ ^Y MRYY]O P\YW Z\ONOPSXON ]_LTOM^] 8Y^O] S] K QYYN ZVKMO PY\ WKZ] KXN N\KaSXQ] ?]SXQ ^RO SXZ_^ ZKXOV OX^O\ K NO]M\SZ^SYX CY_ MKX OX^O\ K ]^K\^ NK^O KXN N_O NK^O Y\ OX^O\ Y^RO\ SXPY\WK^SYX Lc PS\]^ ^KZZSXQ ^RO PSOVN 3P ^RO SXZ_^ ZKXOV S] YZOX cY_ aSVV XOON ^Y RSNO S^ ^Y ]OO KVV K`KSVKLVO PSOVN] >Y K]]SQX ^RO ^K]U ^Y K MK^OQY\c ^KZ -K^OQY\SO] KXN ]OVOM^ K MK^OQY\c P\YW ^RO VS]^ 3X ^RO ^K]U VS]^ cY_ MKX NS]ZVKc ^K]U] Lc MK^OQY\c >Y KNN XY^O] ^KZ ^RO 8Y^O] ^KL CY_ MKX OX^O\ ^Ob^ N\Ka Y\ M\OK^O K \OMY\NSXQ 0Y\ WY\O SXPY\WK^SYX YX M\OK^SXQ XY^O] ]OO w8Y^O]$ -KZ^_\SXQ >RY_QR^] KXN 3NOK]x VK^O\ SX ^RS] MRKZ^O\ AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO ^K]U VS]^ >Y [_SMUVc M\OK^O K ^K]U aS^R YXVc K ]_LTOM^ ^KZ /X^\c , K\ YX ^RO >YYV] WOX_ >ROX ^KZ >KZ RO\O ^Y KNN K XOa ^K]U KXN OX^O\ cY_\ ^K]U SXPY\WK^SYX ?]O\] 7KX_KV # 7SM\Y]YP^ :YMUO^ 9_^VYYU 7UKPI VJG 5WOOCT[ 5ETGGP AROX cY_ ^KZ K ^K]U SX ^RO ^K]U VS]^ K ]_WWK\c ]M\OOX S] NS]ZVKcON >Y MRKXQO ^RO ^K]U ^KZ /NS^ @SOa ^K]U NO^KSV] >KZ ^Y ]RYa KXN RSNO KNNS^SYXKV ]_WWK\c SXPY\WK^SYX @SOa XY^O] >KZ ^Y MRKXQO ^K]U ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 0QVGU %CRVWTKPI 6JQWIJVU CPF +FGCU ;_SMUVc MKZ^_\O ^RY_QR^] \OWSXNO\] SNOK] N\KaSXQ] KXN ZRYXO X_WLO\] aS^R 8Y^O] CY_ MKX M\OK^O K a\S^^OX XY^O Y\ K \OMY\NSXQ CY_ MKX KV]Y SXMV_NO K \OMY\NSXQ SX K XY^O 3P K XY^O S] YZOX aROX cY_ M\OK^O ^RO \OMY\NSXQ S^ aSVV LO SXMV_NON SX ^RO XY^O K] KX SMYX 3P ^RO XY^O VS]^ S] NS]ZVKcON S^ aSVV LO M\OK^ON K] K ]^KXNKVYXO \OMY\NSXQ >KZ ^Y MRKXQO ^RO ]Y\^ Y\NO\ YP ^RO VS]^ >KZ ^Y YZOX K XY^O Y\ ZVKc K \OMY\NSXQ >KZ KXN RYVN ^Y NS]ZVKc K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y \OMY\N >KZ ^Y ]RYa Y\ RSNO ^RO <OMY\NSXQ ^YYVLK\ >KZ ^Y M\OK^O K XOa S^OW ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 6Q ETGCVG C PQVG >KZ 8Oa -\OK^O cY_\ XY^O Lc a\S^SXQ N\KaSXQ ^cZSXQ KXN \OMY\NSXQ 0Y\ WY\O SXPY\WK^SYX KLY_^ _]SXQ ^RO SXZ_^ ZKXOV a\S^SXQ KXN N\KaSXQ YX ^RO ]M\OOX KXN M\OK^SXQ \OMY\NSXQ] ]OO -RKZ^O\ >KZ ^Y \O^_\X ^Y ^RO XY^O VS]^ ^RO XY^O S] ]K`ON K_^YWK^SMKVVc >KZ ^Y a\S^O YX ^RO ]M\OOX >KZ ^Y ]RYa Y\ RSNO ^RO SXZ_^ ZKXOV >KZ ^Y KNN K \OMY\NSXQ ^Y ^RO XY^O +PDQZ 5GPFKPI CPF 4GEGKXKPI ' OCKN /GUUCIGU ?]O 3XLYb ^Y ]OXN KXN \OMOS`O OWKSV WO]]KQO] Lc ]cXMR\YXSdSXQ OWKSV WO]]KQO] aS^R 7SM\Y]YP^ /bMRKXQO Y\ 7SM\Y]YP^ 9_^VYYU YX cY_\ :- 5[PEJTQPK\KPI ' OCKN /GUUCIGU /WKSV WO]]KQO] MKX LO ]cXMR\YXSdON K] ZK\^ YP ^RO QOXO\KV ]cXMR\YXSdK^SYX Z\YMO]] CY_ aSVV XOON ^Y OXKLVO 3XLYb ]cXMR\YXSdK^SYX SX +M^S`O=cXM 0Y\ SXPY\WK^SYX YX OXKLVSXQ 3XLYb ]cXMR\YXSdK^SYX ]OO +M^S`O=cXM 2OVZ YX ^RO :- . _\SXQ ]cXMR\YXSdK^SYX$ 3 7O]]KQO] K\O MYZSON P\YW ^RO WKSV PYVNO\] YP /bMRKXQO Y\ 9_^VYYU YX cY_\ MYWZ_^O\ ^Y ^RO +M^S`O=cXM PYVNO\ SX 3XLYb YX cY_\ NO`SMO , c NOPK_V^ cY_ aSVV \OMOS`O WO]]KQO] P\YW ^RO ZK]^ ^R\OO NKc] YXVc ^RO PS\]^ VSXO] YP OKMR WO]]KQO KXN PSVO K^^KMRWOX^] YP VO]] ^RKX 5, SX ]SdO 3 /WKSV WO]]KQO] SX ^RO 9_^LYb PYVNO\ YX cY_\ NO`SMO K\O ^\KX]PO\\ON ^Y /bMRKXQO Y\ 9_^VYYU KXN ^ROX ]OX^ P\YW ^RY]O Z\YQ\KW] 3 /WKSV WO]]KQO] SX ]_LPYVNO\] W_]^ LO ]OVOM^ON SX +M^S`O=cXM YX cY_\ MYWZ_^O\ SX Y\NO\ ^Y LO ^\KX]PO\\ON ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU 7UKPI VJG /GUUCIG . KUV 7O]]KQO] cY_ \OMOS`O K\O NS]ZVKcON SX ^RO WO]]KQO VS]^ , c NOPK_V^ ^RO WY]^ \OMOX^Vc \OMOS`ON WO]]KQO] K\O NS]ZVKcON PS\]^ SX ^RO VS]^ =OVOM^ ^RO ]O\`SMO KXN PYVNO\ cY_ aKX^ ^Y NS]ZVKc =OVOM^ ^RO ]Y\^ Y\NO\ PY\ WO]]KQO] >KZ KXN RYVN ^Y NS]ZVKc K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y MYXXOM^ ^Y ^RO ]OVOM^ON ]O\`SMO >KZ ^Y MYXXOM^ KXN ^Y ]OXN KXN \OMOS`O OWKSV AROX cY_ \OMOS`O K WO]]KQO ^KZ S^ ^Y YZOX S^ ?X\OKN WO]]KQO] K\O NS]ZVKcON SX LYVN >KZ ^Y \O^_\X ^Y ^RO WO]]KQO VS]^ >KZ ^Y NOVO^O ^RS] WO]]KQO >KZ ^Y \OZVc Y\ ^Y PY\aK\N ^RS] WO]]KQO >KZ ^Y `SOa ^RO Z\O`SY_] Y\ XOb^ WO]]KQO ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU AROX cY_ MYXXOM^ ^Y cY_\ OWKSV ]O\`O\ Y\ ]cXMR\YXSdO aS^R cY_\ MYWZ_^O\ Lc NOPK_V^ cY_vVV \OMOS`O WO]]KQO] P\YW ^RO VK]^ PS`O NKc] YXVc ^RO PS\]^ VSXO] YP OKMR XOa WO]]KQO KXN PSVO K^^KMRWOX^] YP VO]] ^RKX 5, SX ]SdO >RO Y\SQSXKV WO]]KQO] \OWKSX YX ^RO OWKSV ]O\`O\ Y\ cY_\ MYWZ_^O\ CY_ MKX WK\U ^RO WO]]KQO] ^RK^ cY_ aKX^ ^Y \O^\SO`O SX P_VV N_\SXQ cY_\ XOb^ ]cXMR\YXSdK^SYX Y\ OWKSV ]O\`O\ MYXXOM^SYX 3X ^RO WO]]KQO VS]^ ^KZ KXN RYVN ^RO WO]]KQO cY_ aKX^ ^Y \O^\SO`O 9X ^RO ZYZ_Z WOX_ ^KZ 7K\U PY\ . YaXVYKN >RO SMYX] SX ^RO 3XLYb WO]]KQO VS]^ QS`O cY_ `S]_KV SXNSMK^SYX] YP WO]]KQO ]^K^_] CY_ ]ZOMSPc cY_\ NYaXVYKNSXQ Z\OPO\OXMO] aROX cY_ ]O^ _Z ^RO ]O\`SMO Y\ ]OVOM^ cY_\ ]cXMR\YXSdK^SYX YZ^SYX] CY_ MKX MRKXQO ^ROW K^ KXc ^SWO$ 3 -RKXQO YZ^SYX] PY\ 3XLYb ]cXMR\YXSdK^SYX _]SXQ +M^S`O=cXM YZ^SYX] 0Y\ WY\O SXPY\WK^SYX ]OO +M^S`O=cXM 2OVZ 3 -RKXQO YZ^SYX] PY\ NS\OM^ OWKSV ]O\`O\ MYXXOM^SYX] SX 3XLYb YX cY_\ NO`SMO >KZ >YYV] KXN ^ROX ^KZ 9Z^SYX] 9X ^RO =O\`SMO ^KL ^KZ ^RO ]O\`SMO cY_ aKX^ ^Y MRKXQO >KZ KXN RYVN ^RO ]O\`SMO KXN ]OVOM^ . OVO^O ^Y \OWY`O K ]O\`SMO %QORQUKPI /GUUCIGU >Y MYWZY]O K WO]]KQO$ >KZ 8Oa 3X ^RO >Y PSOVN OX^O\ KX OWKSV Y\ =7= KNN\O]] YP YXO Y\ WY\O \OMSZSOX^] ]OZK\K^SXQ ^ROW aS^R K ]OWSMYVYX Y\ ]OVOM^ K XKWO P\YW ^RO MYX^KM^ VS]^ Lc ^KZZSXQ ^RO +NN\O]] , YYU L_^^YX +VV OWKSV KNN\O]]O] OX^O\ON SX ^RO OWKSV PSOVN] SX -YX^KM^] KZZOK\ SX ^RO +NN\O]] , YYU >KZ ^Y ]RYa Y\ RSNO ^RO MYWZVO^O ROKNO\ >KZ ^Y ]OXN ^RO WO]]KQO >KZ ^Y SX]O\^ MYWWYX WO]]KQO >KZ ^Y NS]ZVKc ^RO KNN\O]] LYYU >KZ ^Y ]RYaRSNO ^RO \OMY\NSXQ ^YYVLK\ ?]O\] 7KX_KV 7SM\Y]YP^ :YMUO^ 9_^VYYU -YWZY]O cY_\ WO]]KQO >Y OX^O\ Z\O]O^ Y\ P\O[_OX^Vc _]ON WO]]KQO] ^KZ 7c >Ob^ KXN ]OVOM^ K WO]]KQO >KZ =OXN aROX cY_v`O PSXS]RON ^RO WO]]KQO 3P cY_ K\O aY\USXQ YPPVSXO ^RO WO]]KQO S] WY`ON ^Y ^RO 9_^LYb PYVNO\ KXN aSVV LO ]OX^ ^RO XOb^ ^SWO cY_ MYXXOM^ 3P cY_ K\O aY\USXQ YXVSXO S^ S] ]OX^ SWWONSK^OVc 3P cY_ K\O ]OXNSXQ KX =7= WO]]KQO KXN aKX^ ^Y UXYa SP S^ aK] \OMOS`ON ^KZ /NS^ 9Z^SYX] KXN ]OVOM^ <O[_O]^ =7= ^Ob^ WO]]KQO NOVS`O\c XY^SPSMK^SYX LOPY\O ]OXNSXQ ^RO WO]]KQO /CPCIKPI ' OCKN /GUUCIGU CPF (QNFGTU , c NOPK_V^ WO]]KQO] K\O NS]ZVKcON SX YXO YP PS`O PYVNO\] PY\ OKMR ]O\`SMO cY_ RK`O M\OK^ON$ 3XLYb . OVO^ON 3^OW] . \KP^] 9_^LYb KXN =OX^ 3^OW] >RO . OVO^ON 3^OW] PYVNO\ MYX^KSX] WO]]KQO] ^RK^ RK`O LOOX NOVO^ON YX ^RO NO`SMO >RO LORK`SY\ YP ^RO . OVO^ON KXN =OX^ 3^OW] PYVNO\] NOZOXN] YX ^RO YZ^SYX] cY_ RK`O MRY]OX 3X ^RO WO]]KQO VS]^ ^KZ >YYV] KXN ^ROX 9Z^SYX] 9X ^RO 7O]]KQO ^KL ]OVOM^ cY_\ YZ^SYX] 3P cY_ aKX^ ^Y Y\QKXSdO WO]]KQO] SX^Y KNNS^SYXKV PYVNO\] ^KZ >YYV] KXN ^ROX 7KXKQO 0YVNO\] ^Y M\OK^O XOa PYVNO\] >Y WY`O K WO]]KQO ^Y KXY^RO\ PYVNO\ SX ^RO WO]]KQO VS]^ ^KZ KXN RYVN ^RO WO]]KQO KXN ^ROX ^KZ 7Y`O ^Y YX ^RO ZYZ_Z WOX_ 0YVNO\ LORK`SY\ aS^R K NS\OM^ MYXXOM^SYX ^Y KX OWKSV ]O\`O\ >RO LORK`SY\ YP ^RO PYVNO\] cY_ M\OK^O NOZOXN] YX aRO^RO\ cY_ K\O _]SXQ +M^S`O=cXM =7= :9: Y\ 37+: 3 3P cY_ _]O +M^S`O=cXM OWKSV WO]]KQO] SX ^RO 3XLYb PYVNO\ SX 9_^VYYU aSVV K_^YWK^SMKVVc LO ]cXMR\YXSdON aS^R cY_\ NO`SMO CY_ MKX ]OVOM^ ^Y ]cXMR\YXSdO KNNS^SYXKV PYVNO\] Lc NO]SQXK^SXQ ^ROW PY\ +M^S`O=cXM >RO PYVNO\] cY_ M\OK^O KXN ^RO WO]]KQO] cY_ WY`O aSVV ^ROX LO WS\\Y\ON YX ^RO ]O\`O\ 0Y\ ObKWZVO SP cY_ WY`O ^aY WO]]KQO] P\YW ^RO 3XLYb PYVNO\ ^Y K PYVNO\ XKWON 0KWSVc KXN cY_ RK`O NO]SQXK^ON 0KWSVc PY\ ]cXMR\YXSdK^SYX ^RO ]O\`O\ M\OK^O] K MYZc YP ^RO 0KWSVc PYVNO\ KXN MYZSO] ^RO WO]]KQO] SX^Y ^RK^ PYVNO\ CY_ MKX ^ROX \OKN ^RO WO]]KQO] aRSVO KaKc P\YW cY_\ MYWZ_^O\ 3 3P cY_ _]O =7= WO]]KQO] K\O ]^Y\ON SX ^RO 3XLYb PYVNO\ 3 3P cY_ _]O :9: KXN cY_ WY`O OWKSV WO]]KQO] ^Y K PYVNO\ cY_ M\OK^ON ^RO VSXU S] L\YUOX LO^aOOX ^RO WO]]KQO] YX ^RO NO`SMO KXN ^ROS\ MYZSO] YX ^RO WKSV ]O\`O\ >RO XOb^ ^SWO cY_ MYXXOM^ ^RO WKSV ]O\`O\ aSVV ]OO ^RK^ ^RO WO]]KQO] K\O WS]]SXQ P\YW ^RO NO`SMO 3XLYb KXN NOVO^O ^ROW P\YW ^RO ]O\`O\ >RS] Z\O`OX^] cY_ P\YW RK`SXQ N_ZVSMK^O MYZSO] YP K WO]]KQO L_^ S^ KV]Y WOKX] ^RK^ cY_ aSVV XY VYXQO\ RK`O KMMO]] ^Y WO]]KQO] ^RK^ cY_ WY`O ^Y PYVNO\] M\OK^ON P\YW KXcaRO\O ObMOZ^ ^RO NO`SMO 3 3P cY_ _]O 37+: ^RO PYVNO\] cY_ M\OK^O KXN ^RO OWKSV WO]]KQO] cY_ WY`O K\O WS\\Y\ON YX ^RO ]O\`O\ >RO\OPY\O WO]]KQO] K\O K`KSVKLVO ^Y cY_ KXc^SWO cY_ MYXXOM^ ^Y cY_\ WKSV ]O\`O\ aRO^RO\ S^ S] P\YW cY_\ NO`SMO Y\ MYWZ_^O\ >RS] ]cXMR\YXSdK^SYX YP PYVNO\] YMM_\] aROXO`O\ cY_ MYXXOM^ ^Y cY_\ WKSV ]O\`O\ M\OK^O XOa PYVNO\] Y\ \OXKWO NOVO^O PYVNO\] aROX MYXXOM^ON ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 615*+$# 2QEMGV 2% G %JCRVGT %QORCPKQP 2TQITCOU >RO MYWZKXSYX Z\YQ\KW] MYX]S]^ YP 7SM\Y]YP^Z :YMUO^ AY\N 7SM\Y]YP^Z :YMUO^ /bMOV 7=8 7O]]OXQO\ ASXNYa] 7ONSK} :VKcO\ KXN 7SM\Y]YP^Z <OKNO\ >Y ]aS^MR ^Y K MYWZKXSYX Z\YQ\KW YX cY_\ NO`SMO ^KZ :\YQ\KW] YX ^RO WOX_ KXN ^ROX ^KZ ^RO Z\YQ\KW XKWO 2QEMGV 9QTF :YMUO^ AY\N aY\U] aS^R 7SM\Y]YP^ AY\N YX cY_\ MYWZ_^O\ ^Y QS`O cY_ OK]c KMMO]] ^Y MYZSO] YP cY_\ NYM_WOX^] CY_ MKX M\OK^O XOa NYM_WOX^] YX cY_\ NO`SMO Y\ cY_ MKX MYZc NYM_WOX^] P\YW cY_\ MYWZ_^O\ ^Y cY_\ NO`SMO =cXMR\YXSdO NYM_WOX^] LO^aOOX cY_\ MYWZ_^O\ KXN cY_\ NO`SMO ]Y ^RK^ cY_ RK`O ^RO WY]^ _Z^YNK^O MYX^OX^ SX LY^R VYMK^SYX] ?]O :YMUO^ AY\N ^Y M\OK^O NYM_WOX^] ]_MR K] VO^^O\] WOO^SXQ WSX_^O] KXN ^\SZ \OZY\^] >Y M\OK^O K XOa PSVO ^KZ :\YQ\KW] :YMUO^ AY\N KXN ^ROX 8Oa + LVKXU NYM_WOX^ KZZOK\] 9\ SP cY_v`O ]OVOM^ON K ^OWZVK^O PY\ XOa NYM_WOX^] SX ^RO 9Z^SYX] NSKVYQ LYb ^RK^ ^OWZVK^O KZZOK\] aS^R KZZ\YZ\SK^O ^Ob^ KXN PY\WK^^SXQ KV\OKNc Z\Y`SNON CY_ MKX YZOX YXVc YXO NYM_WOX^ K^ K ^SWO% aROX cY_ YZOX K ]OMYXN NYM_WOX^ cY_vVV LO K]UON ^Y ]K`O ^RO PS\]^ CY_ MKX ]K`O K NYM_WOX^ cY_ M\OK^O Y\ ONS^ SX K `K\SO^c YP PY\WK^] SXMV_NSXQ AY\N NYM :YMUO^ AY\N Z]a <SMR >Ob^ 0Y\WK^ \^P KXN :VKSX >Ob^ ^b^ 7UGThU 7KX_KV ?]O\] /CPWCN -YWZKXSYX :\YQ\KW] :YMUO^ AY\N MYX^KSX] K VS]^ YP ^RO PSVO] ]^Y\ON YX cY_\ NO`SMO >KZ K PSVO SX ^RO VS]^ ^Y YZOX S^ >Y NOVO^O WKUO MYZSO] YP KXN ]OXN PSVO] ^KZ KXN RYVN K PSVO SX ^RO VS]^ >ROX ]OVOM^ ^RO KZZ\YZ\SK^O KM^SYX YX ^RO ZYZ_Z WOX_ >KZ ^Y MRKXQO ^RO ]Y\^ Y\NO\ YP ^RO VS]^ =OVOM^ ^RO ^cZO YP PYVNO\ cY_ aKX^ NS]ZVKcON SX ^RO VS]^ >KZ ^Y YZOX K NYM_WOX^ >KZ KXN RYVN KX S^OW ^Y NS]ZVKc K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y M\OK^O K XOa NYM_WOX^ CY_ MKX OX^O\ SXPY\WK^SYX SX :YMUO^ AY\N SX YXO YP PY_\ WYNO] ^cZSXQ a\S^SXQ N\KaSXQ KXN \OMY\NSXQ aRSMR K\O NS]ZVKcON YX ^RO @SOa WOX_ /KMR WYNO RK] S^] YaX ^YYVLK\ aRSMR cY_ MKX ]RYa KXN RSNO Lc ^KZZSXQ ^RO =RYa2SNO >YYVLK\ L_^^YX YX ^RO MYWWKXN LK\ CY_ MKX MRKXQO ^RO dYYW WKQXSPSMK^SYX Lc ^KZZSXQ @SOa KXN ^ROX DYYW >ROX ]OVOM^ ^RO ZO\MOX^KQO cY_ aKX^ =OVOM^ K RSQRO\ ZO\MOX^KQO ^Y OX^O\ ^Ob^ KXN K VYaO\ YXO ^Y ]OO WY\O YP cY_\ NYM_WOX^ 3P cY_v\O YZOXSXQ K AY\N NYM_WOX^ M\OK^ON YX K MYWZ_^O\ ]OVOM^ A\KZ ^Y ASXNYa YX ^RO @SOa WOX_ ]Y ^RK^ cY_ MKX ]OO ^RO OX^S\O NYM_WOX^ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 6[RKPI /QFG ?]SXQ ^RO SXZ_^ ZKXOV OX^O\ ^cZON ^Ob^ SX^Y ^RO NYM_WOX^ 0Y\ WY\O SXPY\WK^SYX YX OX^O\SXQ ^cZON ^Ob^ ]OO -RKZ^O\ >Y PY\WK^ ObS]^SXQ ^Ob^ KXN ^Y ONS^ ^Ob^ PS\]^ ]OVOM^ ^RO ^Ob^ CY_ MKX ]OVOM^ ^Ob^ K] cY_ NY SX K AY\N NYM_WOX^ _]SXQ cY_\ ]^cV_] SX]^OKN YP ^RO WY_]O ^Y N\KQ ^R\Y_QR ^RO ^Ob^ cY_ aKX^ ^Y ]OVOM^ CY_ MKX ]OK\MR K NYM_WOX^ ^Y PSXN ^Ob^ Lc ^KZZSXQ /NS^ KXN ^ROX 0SXN<OZVKMO >KZ ^Y \O^_\X ^Y ^RO NYM_WOX^ MRKXQO] K\O ]K`ON K_^YWK^SMKVVc >KZ KXN RYVN ^Y ]OO K ZYZ_Z WOX_ YP KM^SYX] >KZ ^Y MRKXQO PY\WK^^SXQ YZ^SYX] >KZ ^Y PY\WK^ ^Ob^ >KZ ^Y ]RYa Y\ RSNO ^RO ^YYVLK\ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 9TKVKPI /QFG 3X a\S^SXQ WYNO _]O cY_\ ]^cV_] ^Y a\S^O NS\OM^Vc YX ^RO ]M\OOX <_VON VSXO] K\O NS]ZVKcON K] K Q_SNO KXN ^RO dYYW WKQXSPSMK^SYX S] Q\OK^O\ ^RKX SX ^cZSXQ WYNO ^Y KVVYa cY_ ^Y a\S^O WY\O OK]SVc 0Y\ WY\O SXPY\WK^SYX YX a\S^SXQ KXN ]OVOM^SXQ a\S^SXQ ]OO -RKZ^O\ AS^R =ZKMO L_^^YX ]OVOM^ON N\KQ ^Y SX]O\^ ]ZKMO +X K\\Ya KZZOK\] ]RYaSXQ ^RO ]ZKMO NS\OM^SYX KXN ]SdO =ZKMO L_^^YX >KZ ^Y RSQRVSQR^ ]OVOM^ON ^Ob^ :OX L_^^YX 3P cY_ M\Y]] ^R\OO \_VON VSXO] SX K ]SXQVO ]^cV_] ]^\YUO ^RO a\S^SXQ LOMYWO] K N\KaSXQ KXN MKX LO ONS^ON KXN WKXSZ_VK^ON K] NO]M\SLON SX ^RO PYVVYaSXQ ]OM^SYX A\S^^OX aY\N] K\O MYX`O\^ON ^Y Q\KZRSM] WO^KPSVO] aROX K :YMUO^ AY\N NYM_WOX^ S] MYX`O\^ON ^Y K AY\N NYM_WOX^ YX cY_\ MYWZ_^O\ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] &TCYKPI /QFG 3X N\KaSXQ WYNO _]O cY_\ ]^cV_] ^Y N\Ka YX ^RO ]M\OOX 1\SNVSXO] KZZOK\ K] K Q_SNO AROX cY_ VSP^ cY_\ ]^cV_] YPP ^RO ]M\OOX KP^O\ ^RO PS\]^ ]^\YUO cY_vVV ]OO K N\KaSXQ LYb SXNSMK^SXQ ^RO LY_XNK\SO] YP ^RO N\KaSXQ /`O\c ]_L]O[_OX^ ]^\YUO aS^RSX Y\ ^Y_MRSXQ ^RO N\KaSXQ LYb LOMYWO] ZK\^ YP ^RO N\KaSXQ 0Y\ WY\O SXPY\WK^SYX YX N\KaSXQ KXN ]OVOM^SXQ N\KaSXQ] ]OO -RKZ^O\ <O]SdO KX YLTOM^ Lc N\KQQSXQ ^RO ]OVOM^SYX RKXNVO] >KZ KX K\\Ya ^Y ]OO cY_\ MRYSMO] >KZ ^Y ]OVOM^ PY\WK^^SXQ YZ^SYX] ]_MR K] ZOX aOSQR^ PSVV MYVY_\ KXN VSXO MYVY_\ :OX L_^^YX 4GEQTFKPI /QFG 3X \OMY\NSXQ WYNO OWLON K \OMY\NSXQ SX^Y cY_\ NYM_WOX^ <OMY\NSXQ] K\O ]K`ON K] aK` PSVO] 0Y\ WY\O SXPY\WK^SYX YX \OMY\NSXQ ]OO -RKZ^O\ 0Y\ WY\O SXPY\WK^SYX YX _]SXQ :YMUO^ AY\N ^KZ KXN ^ROX 2OVZ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 2QEMGV 'ZEGN :YMUO^ /bMOV aY\U] aS^R 7SM\Y]YP^ /bMOV YX cY_\ MYWZ_^O\ ^Y QS`O cY_ OK]c KMMO]] ^Y MYZSO] YP cY_\ aY\ULYYU] CY_ MKX M\OK^O XOa aY\ULYYU] YX cY_\ NO`SMO Y\ cY_ MKX MYZc aY\ULYYU] P\YW cY_\ MYWZ_^O\ ^Y cY_\ NO`SMO =cXMR\YXSdO aY\ULYYU] LO^aOOX cY_\ MYWZ_^O\ KXN cY_\ NO`SMO ]Y ^RK^ cY_ RK`O ^RO WY]^ _Z^YNK^O MYX^OX^ SX LY^R VYMK^SYX] ?]O :YMUO^ /bMOV ^Y M\OK^O aY\ULYYU] ]_MR K] ObZOX]O \OZY\^] KXN WSVOKQO VYQ] >Y M\OK^O K XOa PSVO ^KZ :\YQ\KW] :YMUO^ /bMOV KXN ^ROX 8Oa + LVKXU aY\ULYYU KZZOK\] 9\ SP cY_v`O ]OVOM^ON K ^OWZVK^O PY\ XOa aY\ULYYU] SX ^RO 9Z^SYX] NSKVYQ LYb ^RK^ ^OWZVK^O KZZOK\] aS^R KZZ\YZ\SK^O ^Ob^ KXN PY\WK^^SXQ KV\OKNc Z\Y`SNON CY_ MKX YZOX YXVc YXO aY\ULYYU K^ K ^SWO% aROX cY_ YZOX K ]OMYXN aY\ULYYU cY_vVV LO K]UON ^Y ]K`O ^RO PS\]^ CY_ MKX ]K`O K aY\ULYYU cY_ M\OK^O Y\ ONS^ SX K `K\SO^c YP PY\WK^] SXMV_NSXQ :YMUO^ /bMOV ZbV KXN /bMOV bV] :YMUO^ /bMOV MYX^KSX] K VS]^ YP ^RO PSVO] ]^Y\ON YX cY_\ NO`SMO >KZ K PSVO SX ^RO VS]^ ^Y YZOX S^ >Y NOVO^O WKUO MYZSO] YP KXN ]OXN PSVO] ^KZ KXN RYVN K PSVO SX ^RO VS]^ >ROX ]OVOM^ ^RO KZZ\YZ\SK^O KM^SYX P\YW ^RO ZYZ_Z WOX_ :YMUO^ /bMOV Z\Y`SNO] P_XNKWOX^KV ]Z\OKN]ROO^ ^YYV] ]_MR K] PY\W_VK] P_XM^SYX] ]Y\^SXQ KXN PSV^O\SXQ >Y NS]ZVKc ^RO ^YYVLK\ ^KZ @SOa KXN ^ROX >YYVLK\ -OVV MYX^OX^] KZZOK\ RO\O K] cY_ OX^O\ ^ROW 0Y\WK^ L_^^YX DYYW L_^^YX +_^Y=_W L_^^YX 3P cY_\ aY\ULYYU MYX^KSX] ]OX]S^S`O SXPY\WK^SYX cY_ MKX Z\Y^OM^ S^ aS^R K ZK]]aY\N >Y NY ]Y YZOX ^RO aY\ULYYU ^KZ /NS^ KXN ^ROX :K]]aY\N /`O\c ^SWO cY_ YZOX ^RO aY\ULYYU cY_ aSVV XOON ^Y OX^O\ ^RO ZK]]aY\N ]Y MRYY]O YXO ^RK^ S] OK]c PY\ cY_ ^Y \OWOWLO\ L_^ RK\N PY\ Y^RO\] ^Y Q_O]] ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 6KRU HQT 9QTMKPI KP 2QEMGV 'ZEGN 8Y^O ^RO PYVVYaSXQ aROX aY\USXQ SX VK\QO aY\U]ROO^] SX :YMUO^ /bMOV$ 3 @SOa SX P_VV]M\OOX WYNO ^Y ]OO K] W_MR YP cY_\ aY\U]ROO^ K] ZY]]SLVO >KZ @SOa KXN ^ROX 0_VV =M\OOX >Y ObS^ P_VV]M\OOX WYNO ^KZ <O]^Y\O 3 =RYa KXN RSNO aSXNYa OVOWOX^] >KZ @SOa KXN ^ROX ^KZ ^RO OVOWOX^] cY_ aKX^ ^Y ]RYa Y\ RSNO 3 0\OOdO ZKXO] YX K aY\U]ROO^ 0S\]^ ]OVOM^ ^RO MOVV aRO\O cY_ aKX^ ^Y P\OOdO ZKXO] >KZ @SOa KXN ^ROX 0\OOdO :KXO] CY_ WSQR^ aKX^ ^Y P\OOdO ^RO ^YZ KXN VOP^WY]^ ZKXO] SX K aY\U]ROO^ ^Y UOOZ \Ya KXN MYV_WX VKLOV] `S]SLVO K] cY_ ]M\YVV ^R\Y_QR K ]ROO^ 3 =ZVS^ ZKXO] ^Y `SOa NSPPO\OX^ K\OK] YP K VK\QO aY\U]ROO^ >KZ @SOa KXN ^ROX =ZVS^ >ROX N\KQ ^RO ]ZVS^ LK\ ^Y aRO\O cY_ aKX^ S^ >Y \OWY`O ^RO ]ZVS^ ^KZ @SOa KXN ^ROX <OWY`O =ZVS^ 3 =RYa KXN RSNO \Ya] KXN MYV_WX] >Y RSNO K RSNNOX \Ya Y\ MYV_WX ]OVOM^ K MOVV SX ^RO \Ya Y\ MYV_WX cY_ aKX^ ^Y RSNO >ROX ^KZ 0Y\WK^ ^ROX <Ya Y\ -YV_WX KXN ^ROX 2SNO >Y ]RYa K RSNNOX \Ya Y\ MYV_WX ^KZ >YYV] ^ROX 1Y >Y KXN ^ROX ^cZO K \OPO\OXMO ^RK^ S] SX ^RO RSNNOX \Ya Y\ MYV_WX >ROX ^KZ 0Y\WK^ ^ROX <Ya Y\ -YV_WX KXN ^ROX ?XRSNO KXN ^ROX 2OVZ 0Y\ WY\O SXPY\WK^SYX YX _]SXQ :YMUO^ /bMOV ^KZ /50 /GUUGPIGT 7=8Z 7O]]OXQO\ YX cY_\ WYLSVO NO`SMO S] KX SX]^KX^ WO]]KQSXQ Z\YQ\KW ^RK^ VO^] cY_$ 3 =OO aRY S] YXVSXO 3 =OXN KXN \OMOS`O SX]^KX^ WO]]KQO] 3 2K`O SX]^KX^ WO]]KQO MYX`O\]K^SYX] aS^R Q\Y_Z] YP MYX^KM^] >Y _]O 7=8 7O]]OXQO\ cY_ W_]^ RK`O K 7SM\Y]YP^ :K]]ZY\^} KMMY_X^ Y\ K 7SM\Y]YP^ /bMRKXQO OWKSV KMMY_X^ CY_ W_]^ RK`O K :K]]ZY\^ ^Y _]O 7=8 7O]]OXQO\ =O\`SMO 3P cY_ RK`O K 2Y^WKSVZ Y\ 7=8 KMMY_X^ cY_ KV\OKNc RK`O K :K]]ZY\^ 9XMO cY_ RK`O YL^KSXON OS^RO\ K 7SM\Y]YP^ :K]]ZY\^ Y\ K 7SM\Y]YP^ /bMRKXQO KMMY_X^ cY_ K\O \OKNc ^Y ]O^ _Z cY_\ KMMY_X^ =SQX _Z PY\ K 7SM\Y]YP^ :K]]ZY\^ KMMY_X^ K^ R^^Z$aaaZK]]ZY\^MYW 1O^ K P\OO 7SM\Y]YP^ 2Y^WKSV OWKSV KNN\O]] K^ R^^Z$aaaRY^WKSVMYW >Y ]aS^MR ^Y 7=8 7O]]OXQO\ ^KZ 7O]]OXQO\ :\YQ\KW] KXN ^ROX ^KZ 7=8 ?]O\] 7KX_KV ! -YWZKXSYX :\YQ\KW] 5GVVKPI 7R , OPY\O cY_ MKX MYXXOM^ cY_ W_]^ OX^O\ :K]]ZY\^ Y\ /bMRKXQO KMMY_X^ SXPY\WK^SYX 6Q UGV WR CP CEEQWPV CPF UKIP KP 3X ^RO >YYV] WOX_ ^KZ 9Z^SYX] 3X ^RO +MMY_X^] ^KL OX^O\ cY_\ :K]]ZY\^ Y\ /bMRKXQO KMMY_X^ SXPY\WK^SYX >Y ]SQX SX ^KZ ^RO ]SQXSX ]M\OOX KXN OX^O\ cY_\ OWKSV KNN\O]] KXN ZK]]aY\N 3P cY_ KV\OKNc _]O 7=8 7O]]OXQO\ YX cY_\ MYWZ_^O\ cY_\ MYX^KM^] aSVV ]RYa _Z YX cY_\ NO`SMO aS^RY_^ LOSXQ KNNON KQKSX 9QTMKPI YKVJ %QPVCEVU >RO 7=8 7O]]OXQO\ aSXNYa ]RYa] KVV YP cY_\ WO]]OXQO\ MYX^KM^] K^ K QVKXMO NS`SNON SX^Y 9XVSXO KXN 8Y^ 9XVSXO MK^OQY\SO] 0\YW ^RS] `SOa aRSVO MYXXOM^ON cY_ MKX MRK^ ]OXN KOWKSV LVYMU ^RO MYX^KM^ P\YW MRK^^SXQ aS^R cY_ Y\ NOVO^O MYX^KM^] P\YW cY_\ VS]^ _]SXQ ^RO ZYZ_Z WOX_ >KZ K MYX^KM^ ^Y ]^K\^ K MRK^ >KZ KXN RYVN ^Y ]OO K ZYZ_Z WOX_ YP KM^SYX] >Y ]OO Y^RO\] YXVSXO aS^RY_^ LOSXQ ]OOX SX ^RO >YYV] WOX_ ^KZ 7c =^K^_] KXN ]OVOM^ +ZZOK\ 9PPVSXO 3P cY_ LVYMU K MYX^KM^ cY_ aSVV KZZOK\ YPPVSXO L_^ aSVV \OWKSX YX ^RO LVYMUON MYX^KM^v] VS]^ >Y _XLVYMU K MYX^KM^ ^KZ KXN RYVN ^RO MYX^KM^ ^ROX ^KZ ?XLVYMU YX ^RO ZYZ_Z WOX_ ?]O\] 7KX_KV " -YWZKXSYX :\YQ\KW] %JCVVKPI YKVJ %QPVCEVU >KZ K MYX^KM^ XKWO ^Y YZOX K MRK^ aSXNYa /X^O\ cY_\ WO]]KQO SX ^RO ^Ob^ OX^\c K\OK K^ ^RO LY^^YW YP ^RO ]M\OOX Y\ ^KZ 7c >Ob^ ^Y OX^O\ K Z\O]O^ WO]]KQO KXN ^KZ =OXN >Y SX`S^O KXY^RO\ MYX^KM^ ^Y K W_V^S_]O\ MRK^ SX ^RO >YYV] WOX_ ^KZ 3X`S^O KXN ^KZ ^RO MYX^KM^ cY_ aKX^ ^Y SX`S^O /X^O\ WO]]KQO RO\O >KZ ^Y ]OXN WO]]KQO >Y ]aS^MR LKMU ^Y ^RO WKSX aSXNYa aS^RY_^ MVY]SXQ K MRK^ ^KZ ^RO -YX^KM^] L_^^YX >Y \O`O\^ LKMU ^Y cY_\ MRK^ aSXNYa ^KZ -RK^] KXN ]OVOM^ ^RO ZO\]YX aRYW cY_ aO\O MRK^^SXQ aS^R ?]O\] 7KX_KV # -YWZKXSYX :\YQ\KW] >Y UXYa SP ^RO MYX^KM^ cY_ K\O MRK^^SXQ aS^R S] \O]ZYXNSXQ VYYU PY\ ^RO WO]]KQO _XNO\ ^RO ^Ob^ OX^\c K\OK @SOa P_VV MRK^ @SOa ]^K^_] YP ^RO MRK^ 0Y\ WY\O SXPY\WK^SYX YX _]SXQ 7=8 7O]]OXQO\ ^KZ KXN ^ROX 2OVZ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 9KPFQYU /GFKC 2NC[GT ?]O 7SM\Y]YP^ ASXNYa] 7ONSK :VKcO\ ^Y ZVKc NSQS^KV K_NSY KXN `SNOY PSVO] ^RK^ K\O ]^Y\ON YX cY_\ NO`SMO Y\ YX K XO^aY\U >Y ]aS^MR ^Y ASXNYa] 7ONSK :VKcO\ PY\ >Y]RSLK :YMUO^ :- ^KZ KXN ^ROX ^KZ ASXNYa] 7ONSK 3XNSMK^O] ^RO Z\YQ\O]] YP ^RO M_\\OX^ ^\KMU >KZ ^Y KNT_]^ `YV_WO >KZ ^Y ]USZ ^Y ^RO XOb^ ^\KMU >KZ ^Y ZVKc K Z\O`SY_] ^\KMU >KZ ^Y ]^YZ >KZ ^Y ZVKc Y\ ZK_]O ?]O 7SM\Y]YP^ ASXNYa] 7ONSK :VKcO\ YX cY_\ MYWZ_^O\ ^Y MYZc NSQS^KV K_NSY KXN `SNOY PSVO] ^Y cY_\ >Y]RSLK :YMUO^ :- CY_ MKX ZVKc ASXNYa] 7ONSK KXN 7: PSVO] YX cY_\ >Y]RSLK :YMUO^ :- 0Y\ WY\O SXPY\WK^SYX KLY_^ _]SXQ ASXNYa] 7ONSK :VKcO\ PY\ >Y]RSLK :YMUO^ :- ^KZ KXN ^ROX ^KZ 2OVZ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] /KETQUQHV 4GCFGT ?]O 7SM\Y]YP^ <OKNO\ ^Y \OKN O, YYU] YX cY_\ NO`SMO . YaXVYKN LYYU] ^Y cY_\ MYWZ_^O\ P\YW cY_\ PK`Y\S^O O, YYU AOL ]S^O >ROX _]O +M^S`O=cXM ^Y MYZc ^RO LYYU PSVO] ^Y cY_\ KM^S`K^ON NO`SMO >RO LYYU] KZZOK\ SX ^RO 7SM\Y]YP^ <OKNO\ 6SL\K\c aRO\O cY_ MKX ^KZ ^ROW SX ^RO VS]^ ^Y YZOX ^ROW /KMR LYYU MYX]S]^] YP K MY`O\ ZKQO KX YZ^SYXKV ^KLVO YP MYX^OX^] KXN ^RO ZKQO] YP ^RO LYYU CY_ MKX$ 3 :KQO ^R\Y_QR ^RO LYYU Lc _]SXQ ^RO ?Z. YaX MYX^\YV YX cY_\ NO`SMO Y\ Lc ^KZZSXQ ^RO ZKQO X_WLO\ YX OKMR ZKQO 3 +XXY^K^O ^RO LYYU aS^R RSQRVSQR^SXQ LYYUWK\U] XY^O] KXN N\KaSXQ] 3 =OK\MR PY\ ^Ob^ KXN VYYU _Z NOPSXS^SYX] PY\ aY\N] >RO 1_SNOLYYU MYX^KSX] KVV ^RO SXPY\WK^SYX cY_VV XOON ^Y _]O ^RO ]YP^aK\O >Y YZOX ^RO 1_SNOLYYU ^KZ 2OVZ YX ^RO 7SM\Y]YP^ <OKNO\ MYWWKXN LK\ 9\ YX K LYYU ZKQO ^KZ KXN RYVN YX ^RO LYYU ^S^VO KXN ^ROX ^KZ 2OVZ YX ^RO ZYZ_Z WOX_ >Y ]aS^MR ^Y 7SM\Y]YP^ <OKNO\ ^KZ :\YQ\KW] KXN ^ROX 7SM\Y]YP^ <OKNO\ )GVVKPI $QQMU QP ;QWT &GXKEG CY_ MKX NYaXVYKN LYYU PSVO] P\YW ^RO AOL 4_]^ `S]S^ cY_\ PK`Y\S^O O, YYU \O^KSVO\ KXN PYVVYa ^RO SX]^\_M^SYX] ^Y NYaXVYKN ^RO LYYU PSVO] =KWZVO LYYU] KXN K NSM^SYXK\c K\O KV]Y SXMV_NON SX 7=<OKNO\ SX ^RO /b^\K] PYVNO\ YX ^RO >Y]RSLK :YMUO^ :- -YWZKXSYX -. ?]O +M^S`O=cXM ^Y NYaXVYKN ^RO PSVO] P\YW cY_\ MYWZ_^O\ ^Y cY_\ KM^S`K^ON NO`SMO K] NO]M\SLON SX ^RO <OKN 7O PSVO SX ^RO 7=<OKNO\ PYVNO\ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 7UKPI VJG . KDTCT[ >RO 6SL\K\c S] cY_\ 7=<OKNO\ RYWO ZKQO% S^ NS]ZVKc] K VS]^ YP KVV LYYU] ]^Y\ON YX cY_\ NO`SMO Y\ ]^Y\KQO MK\N >Y YZOX ^RO 6SL\K\c$ 3 9X ^RO 7=<OKNO\ MYWWKXN LK\ ^KZ 6SL\K\c 3 9X K LYYU ZKQO ^KZ ^RO LYYU ^S^VO KXN ^ROX ^KZ 6SL\K\c YX ^RO ZYZ_Z WOX_ >Y YZOX K LYYU ^KZ S^] ^S^VO SX ^RO 6SL\K\c VS]^ >KZ ^Y ]M\YVV ^R\Y_QR ^RO 6SL\K\c VS]^ >KZ ^Y ]OVOM^ K ]Y\^ Y\NO\ >KZ ^Y YZOX K LYYU >KZ ^Y ]ZOMSPc ^RO LYYU] cY_ aKX^ ^Y NS]ZVKc SX ^RO VS]^ >KZ ^Y XK`SQK^O ^Y Y^RO\ ZK\^] YP ^RO \OKNO\ ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 4GCFKPI C $QQM /KMR LYYU MYX]S]^] YP K MY`O\ ZKQO KX YZ^SYXKV ^KLVO YP MYX^OX^] KXN ^RO KM^_KV ZKQO] YP ^RO LYYU 8K`SQK^SYX YZ^SYX] K\O VS]^ON SX ^RO LY^^YW ZY\^SYX YP ^RO MY`O\ ZKQO >RO PS\]^ ^SWO cY_ YZOX K LYYU QY ^Y ^RO PS\]^ ZKQO Y\ ^Y ^RO ^KLVO YP MYX^OX^] SP ^RO\O S] YXO =_L]O[_OX^Vc aROXO`O\ cY_ YZOX ^RO LYYU cY_vVV LO K_^YWK^SMKVVc ^KUOX ^Y ^RO VK]^ ZKQO \OKN 3X KNNS^SYX ^Y ^RO ^Ob^ OKMR LYYU ZKQO SXMV_NO] K ZKQO X_WLO\ KXN LYYU ^S^VO >KZ ^Y ]OVOM^ K XK`SQK^SYX YZ^SYX . \KQ ^Y ]OVOM^ ^Ob^ KXN ^ROX ^KZ KX YZ^SYX >KZ K\\Ya] ^Y ^_\X ^RO ZKQO Y\ ^KZ KXN RYVN ZKQO ^Y L\SXQ _Z ZKQO \SPPVO CY_ MKX KV]Y ZKQO ^R\Y_QR K LYYU Lc _]SXQ ^RO ?Z. YaX MYX^\YV YX cY_\ NO`SMO ?]O\] 7KX_KV -YWZKXSYX :\YQ\KW] 7UKPI 4GCFGT (GCVWTGU <OKNSXQ K LYYU OVOM^\YXSMKVVc QS`O] cY_ ]O`O\KV YZ^SYX] XY^ K`KSVKLVO aS^R ZKZO\ LYYU] >RO]O YZ^SYX] K\O K`KSVKLVO YX KXc LYYU ZKQO =OVOM^ ^Ob^ Lc N\KQQSXQ KM\Y]] ^RO ^Ob^ YX ^RO ZKQO >ROX ^KZ KX YZ^SYX YX ^RO ZYZ_Z WOX_ K] NO]M\SLON RO\O$ 3 =OK\MR PY\ >Ob^$ 0SXN ^Ob^ SX K LYYU Lc ^KZZSXQ 0SXN YX ^RO ZYZ_Z WOX_ /X^O\ ^RO aY\N cY_ aKX^ ^Y ]OK\MR PY\ KXN ^KZ ^RO NO]S\ON 0SXN YZ^SYX 7=<OKNO\ RSQRVSQR^] ^RO ^Ob^ YX ^RO ZKQO >Y MVY]O 0SXN ^KZ Y_^]SNO ^RO LYb >Y \O^_\X ^Y cY_\ Y\SQSXKV ZKQO ^KZ ^RO ^S^VO KXN ^ROX ^KZ <O^_\X YX ^RO ZYZ_Z WOX_ 3 -YZc >Ob^$ CY_ MKX MYZc ^Ob^ P\YW LYYU] ^RK^ ]_ZZY\^ ^RS] POK^_\O SX^Y KXc Z\YQ\KW ^RK^ KMMOZ^] ^Ob^ 9X K LYYU ZKQO ]OVOM^ ^RO ^Ob^ cY_ aKX^ ^Y MYZc >ROX ^KZ -YZc >Ob^ YX ^RO ZYZ_Z WOX_ >RO ^Ob^ MKX LO ZK]^ON SX^Y ^RO Z\YQ\KW YP cY_\ MRYSMO 3 , YYUWK\U]$ AROX cY_ KNN K LYYUWK\U ^Y K LYYU K MYVY\MYNON LYYUWK\U SMYX KZZOK\] SX ^RO \SQR^ WK\QSX CY_ MKX KNN W_V^SZVO LYYUWK\U] ^Y K LYYU >ROX P\YW KXcaRO\O SX ^RO LYYU ^KZ ^RO LYYUWK\U SMYX ^Y QY ^Y ^RO LYYUWK\UON ZKQO 3 2SQRVSQR^]$ AROX cY_ RSQRVSQR^ ^Ob^ S^ KZZOK\] aS^R K MYVY\ON LKMUQ\Y_XN 3 8Y^O]$ AROX cY_ K^^KMR K XY^O ^Y ^Ob^ cY_ OX^O\ ^RO ^Ob^ SX K XY^O ZKN ^RK^ KZZOK\] YX ^YZ YP ^RO LYYU ZKQO + 8Y^O SMYX aSVV NS]ZVKc SX ^RO VOP^ WK\QSX >Y ]RYa Y\ RSNO ^RO XY^O ^KZ ^RO SMYX 3 . \KaSXQ]$ AROX cY_ KNN K N\KaSXQ K . \KaSXQ SMYX KZZOK\] SX ^RO LY^^YWVOP^ MY\XO\ YP ^RO ZKQO KXN N\KaSXQ ^YYV] KZZOK\ KM\Y]] ^RO LY^^YW YP ^RO ZKQO . \Ka Lc N\KQQSXQ cY_\ ]^cV_] 3 >Y ]OO K VS]^ YP K LYYUv] KXXY^K^SYX] SXMV_NSXQ LYYUWK\U] RSQRVSQR^] ^Ob^ XY^O] KXN N\KaSXQ] ^KZ +XXY^K^SYX] 3XNOb YX ^RO LYYUv] MY`O\ ZKQO CY_ MKX ^KZ KX OX^\c SX ^RO VS]^ ^Y QY ^Y ^RO KXXY^K^ON ZKQO 4GOQXKPI C $QQM AROX cY_ PSXS]R \OKNSXQ K LYYU cY_ MKX NOVO^O S^ ^Y MYX]O\`O ]ZKMO YX cY_\ NO`SMO 3P K MYZc YP ^RO LYYU S] ]^Y\ON YX cY_\ MYWZ_^O\ cY_ MKX NYaXVYKN S^ KQKSX K^ KXc ^SWO >Y \OWY`O K LYYU P\YW cY_\ NO`SMO ^KZ KXN RYVN ^RO ^S^VO SX ^RO 6SL\K\c VS]^ KXN ^ROX ^KZ . OVO^O YX ^RO ZYZ_Z WOX_ ?]O\] 7KX_KV :YMUO^ 3X^O\XO^ /bZVY\O\ 615*+$# 2QEMGV 2% G %JCRVGT 2QEMGV +PVGTPGV 'ZRNQTGT ?]O 7SM\Y]YP^Z :YMUO^ 3X^O\XO^ /bZVY\O\ ^Y `SOa AOL Y\ A+: ZKQO] SX OS^RO\ YP ^RO]O aKc]$ 3 . _\SXQ ]cXMR\YXSdK^SYX aS^R cY_\ MYWZ_^O\ NYaXVYKN cY_\ PK`Y\S^O VSXU] KXN WYLSVO PK`Y\S^O] ^RK^ K\O ]^Y\ON SX ^RO 7YLSVO 0K`Y\S^O] ]_LPYVNO\ SX 3X^O\XO^ /bZVY\O\ YX ^RO MYWZ_^O\ 3 -YXXOM^ ^Y KX 3X^O\XO^ ]O\`SMO Z\Y`SNO\ 3=: Y\ XO^aY\U KXN L\Ya]O ^RO AOL >Y NY ^RS] cY_vVV XOON ^Y M\OK^O ^RO MYXXOM^SYX PS\]^ K] NO]M\SLON SX -RKZ^O\ !AROX MYXXOM^ON ^Y KX 3=: Y\ XO^aY\U cY_ MKX KV]Y NYaXVYKN PSVO] KXN Z\YQ\KW] P\YW ^RO 3X^O\XO^ Y\ SX^\KXO^ >Y ]aS^MR ^Y :YMUO^ 3X^O\XO^ /bZVY\O\ ^KZ KXN ^ROX 3X^O\XO^ /bZVY\O\ 6JG /QDKNG (CXQTKVGU (QNFGT 9XVc S^OW] ]^Y\ON SX ^RO 7YLSVO 0K`Y\S^O] ]_LPYVNO\ SX ^RO 0K`Y\S^O] PYVNO\ SX 3X^O\XO^ /bZVY\O\ YX cY_\ MYWZ_^O\ aSVV LO ]cXMR\YXSdON aS^R cY_\ NO`SMO >RS] PYVNO\ aK] M\OK^ON K_^YWK^SMKVVc aROX cY_ SX]^KVVON +M^S`O=cXM (CXQTKVG . KPMU . _\SXQ ]cXMR\YXSdK^SYX ^RO VS]^ YP PK`Y\S^O VSXU] SX ^RO 7YLSVO 0K`Y\S^O] PYVNO\ YX cY_\ MYWZ_^O\ S] ]cXMR\YXSdON aS^R :YMUO^ 3X^O\XO^ /bZVY\O\ YX cY_\ NO`SMO , Y^R MYWZ_^O\] K\O _ZNK^ON aS^R MRKXQO] WKNO ^Y OS^RO\ VS]^ OKMR ^SWO cY_ ]cXMR\YXSdO ?XVO]] cY_ WK\U ^RO PK`Y\S^O VSXU K] K WYLSVO PK`Y\S^O YXVc ^RO VSXU aSVV LO NYaXVYKNON ^Y cY_\ NO`SMO KXN cY_ aSVV XOON ^Y MYXXOM^ ^Y cY_\ 3=: Y\ XO^aY\U ^Y `SOa ^RO MYX^OX^ 0Y\ WY\O SXPY\WK^SYX YX ]cXMR\YXSdK^SYX ]OO +M^S`O=cXM 2OVZ YX ^RO MYWZ_^O\ 7UGThU 7KX_KV ?]O\] /CPWCN :YMUO^ 3X^O\XO^ /bZVY\O\ /QDKNG (CXQTKVGU 3P cY_ K\O _]SXQ 7SM\Y]YP^ 3X^O\XO^ /bZVY\O\ Y\ VK^O\ YX cY_\ MYWZ_^O\ cY_ MKX NYaXVYKN WYLSVO PK`Y\S^O] ^Y cY_\ NO`SMO =cXMR\YXSdSXQ WYLSVO PK`Y\S^O] NYaXVYKN] AOL MYX^OX^ ^Y cY_\ NO`SMO ]Y ^RK^ cY_ MKX `SOa ZKQO] aRSVO cY_ K\O NS]MYXXOM^ON P\YW cY_\ 3=: KXN MYWZ_^O\ ?]O ^RO 3X^O\XO^ /bZVY\O\ ZV_QSX SX]^KVVON aS^R +M^S`O=cXM ^Y M\OK^O WYLSVO PK`Y\S^O] [_SMUVc 6Q ETGCVG C OQDKNG HCXQTKVG 3X 3X^O\XO^ /bZVY\O\ YX cY_\ MYWZ_^O\ MVSMU >YYV] KXN ^ROX -\OK^O 7YLSVO 0K`Y\S^O >Y MRKXQO ^RO VSXU XKWO OX^O\ K XOa XKWO SX ^RO 8KWO LYb 3X ?ZNK^O ]OVOM^ K NO]S\ON _ZNK^O ]MRON_VO -VSMU 95 3X^O\XO^ /bZVY\O\ NYaXVYKN] ^RO VK^O]^ `O\]SYX YP ^RO ZKQO ^Y cY_\ MYWZ_^O\ 3P cY_ aKX^ ^Y NYaXVYKN ^RO ZKQO] ^RK^ K\O VSXUON ^Y ^RO WYLSVO PK`Y\S^O cY_ T_]^ M\OK^ON SX 3X^O\XO^ /bZVY\O\ YX cY_\ :- \SQR^MVSMU ^RO WYLSVO PK`Y\S^O KXN ^ROX MVSMU :\YZO\^SO] 3X ^RO . YaXVYKN ^KL ]ZOMSPc ^RO X_WLO\ YP VSXU] NOOZ cY_ aKX^ ^Y NYaXVYKN >Y MYX]O\`O NO`SMO WOWY\c QY YXVc YXO VO`OV NOOZ =cXMR\YXSdO cY_\ NO`SMO KXN MYWZ_^O\ 7YLSVO PK`Y\S^O] ^RK^ K\O ]^Y\ON SX ^RO 7YLSVO 0K`Y\S^O] PYVNO\ SX 3X^O\XO^ /bZVY\O\ K\O NYaXVYKNON ^Y cY_\ NO`SMO 3P cY_ NSN XY^ ]ZOMSPc KX _ZNK^O ]MRON_VO SX ]^OZ cY_ aSVV XOON ^Y WKX_KVVc NYaXVYKN MYX^OX^ ^Y UOOZ ^RO SXPY\WK^SYX _ZNK^ON YX cY_\ MYWZ_^O\ KXN NO`SMO , OPY\O ]cXMR\YXSdSXQ aS^R cY_\ NO`SMO SX 3X^O\XO^ /bZVY\O\ YX cY_\ MYWZ_^O\ MVSMU >YYV] KXN ^ROX =cXMR\YXSdO CY_ aSVV ]OO ^RO VK]^ ^SWO MYX^OX^ aK] NYaXVYKNON ^Y ^RO MYWZ_^O\ KXN cY_ MKX WKX_KVVc NYaXVYKN MYX^OX^ SP XOONON CY_ MKX KNN K L_^^YX ^Y ^RO 3X^O\XO^ /bZVY\O\ ^YYVLK\ PY\ M\OK^SXQ WYLSVO PK`Y\S^O] 3X 3X^O\XO^ /bZVY\O\ YX cY_\ MYWZ_^O\ MVSMU @SOa >YYVLK\] KXN ^ROX -_]^YWSdO 6Q UCXG FGXKEG OGOQT[ 7YLSVO PK`Y\S^O] ^KUO _Z ]^Y\KQO WOWY\c YX cY_\ NO`SMO >Y WSXSWSdO ^RO KWY_X^ YP WOWY\c _]ON$ 3 3X ^RO ]O^^SXQ] PY\ ^RO 0K`Y\S^O] SXPY\WK^SYX ^cZO SX +M^S`O=cXM YZ^SYX] ^_\X YPP ZSM^_\O] KXN ]Y_XN] Y\ ]^YZ ]YWO WYLSVO PK`Y\S^O] P\YW LOSXQ NYaXVYKNON ^Y ^RO NO`SMO 0Y\ WY\O SXPY\WK^SYX ]OO +M^S`O=cXM 2OVZ 3 6SWS^ ^RO X_WLO\ YP NYaXVYKNON VSXUON ZKQO] 3X 3X^O\XO^ /bZVY\O\ YX ^RO MYWZ_^O\ \SQR^MVSMU ^RO WYLSVO PK`Y\S^O cY_ aKX^ ^Y MRKXQO KXN ^ROX :\YZO\^SO] 3X ^RO . YaXVYKN ^KL ]ZOMSPc Y\ PY\ ^RO X_WLO\ YP VSXUON ZKQO] cY_ aKX^ ^Y NYaXVYKN ?]O\] 7KX_KV :YMUO^ 3X^O\XO^ /bZVY\O\ 7UKPI #XCPV)Q %JCPPGNU +`KX^1Y S] K P\OO SX^O\KM^S`O ]O\`SMO ^RK^ QS`O] cY_ KMMO]] ^Y ZO\]YXKVSdON MYX^OX^ KXN ^RY_]KXN] YP ZYZ_VK\ AOL ]S^O] CY_ ]_L]M\SLO ^Y +`KX^1Y MRKXXOV] NS\OM^Vc P\YW cY_\ NO`SMO >ROX cY_ ]cXMR\YXSdO cY_\ NO`SMO KXN MYWZ_^O\ Y\ MYXXOM^ ^Y ^RO 3X^O\XO^ ^Y NYaXVYKN ^RO MYX^OX^ 0Y\ WY\O SXPY\WK^SYX `S]S^ ^RO +`KX^1Y AOL ]S^O 6Q UKIP WR HQT #XCPV)Q 3X +M^S`O=cXM YZ^SYX] YX ^RO MYWZ_^O\ ^_\X YX ]cXMR\YXSdK^SYX PY\ ^RO +`KX^1Y SXPY\WK^SYX ^cZO 3X :YMUO^ 3X^O\XO^ /bZVY\O\ YX cY_\ NO`SMO ^KZ ^RO 0K`Y\S^O] L_^^YX ^Y NS]ZVKc cY_\ VS]^ YP PK`Y\S^O] >KZ ^RO +`KX^1Y -RKXXOV] VSXU >KZ ^RO +M^S`K^O L_^^YX 0YVVYa ^RO NS\OM^SYX] YX ^RO ]M\OOX CY_ aSVV XOON ^Y ]cXMR\YXSdO cY_\ NO`SMO aS^R cY_\ MYWZ_^O\ KXN ^ROX ^KZ ^RO 7c -RKXXOV] L_^^YX ^Y MYWZVO^O ^RO +`KX^1Y ]O^_Z AROX ]cXMR\YXSdK^SYX S] MYWZVO^O ^KZ ^RO +`KX^1Y -RKXXOV] VSXU SX cY_\ VS]^ YP PK`Y\S^O] ^Y ]OO K POa YP ^RO WY]^ ZYZ_VK\ MRKXXOV] >Y KNN Y\ \OWY`O MRKXXOV] ^KZ ^RO +NN Y\ <OWY`O VSXU 7UKPI 2QEMGV +PVGTPGV 'ZRNQTGT CY_ MKX _]O :YMUO^ 3X^O\XO^ /bZVY\O\ ^Y L\Ya]O WYLSVO PK`Y\S^O] KXN MRKXXOV] ^RK^ RK`O LOOX NYaXVYKNON ^Y cY_\ NO`SMO aS^RY_^ MYXXOM^SXQ ^Y ^RO 3X^O\XO^ CY_ MKX KV]Y MYXXOM^ ^Y ^RO 3X^O\XO^ ^R\Y_QR KX 3=: Y\ K XO^aY\U MYXXOM^SYX KXN L\Ya]O ^RO AOL , KMU L_^^YX <OP\O]R L_^^YX 2YWO L_^^YX 0K`Y_\S^O] L_^^YX 2SNO ZSM^_\O] L_^^YX ?]O\] 7KX_KV :YMUO^ 3X^O\XO^ /bZVY\O\ 6Q XKGY OQDKNG HCXQTKVGU CPF EJCPPGNU >KZ ^RO 0K`Y\S^O] L_^^YX ^Y NS]ZVKc cY_\ VS]^ YP PK`Y\S^O] >KZ ^RO PK`Y_\S^O cY_ aKX^ ^Y `SOa >KZ ^Y KNN Y\ NOVO^O K PYVNO\ Y\ PK`Y_\S^O VSXU >KZ ^RO ZKQO cY_ aKX^ ^Y `SOa CY_vVV ]OO ^RO ZKQO ^RK^ aK] NYaXVYKNON ^RO VK]^ ^SWO cY_ ]cXMR\YXSdON aS^R cY_\ MYWZ_^O\ 3P ^RO ZKQO S] XY^ YX cY_\ NO`SMO ^RO PK`Y\S^O aSVV LO NSWWON CY_ aSVV XOON ^Y ]cXMR\YXSdO aS^R cY_\ MYWZ_^O\ KQKSX ^Y NYaXVYKN ^RO ZKQO ^Y cY_\ NO`SMO Y\ MYXXOM^ ^Y ^RO 3X^O\XO^ ^Y `SOa ^RO ZKQO 6Q DTQYUG VJG +PVGTPGV =O^ _Z K MYXXOM^SYX ^Y cY_\ 3=: Y\ MY\ZY\K^O XO^aY\U _]SXQ -YXXOM^SYX] K] NO]M\SLON SX -RKZ^O\ ! >Y MYXXOM^ KXN ]^K\^ L\Ya]SXQ NY YXO YP ^RO PYVVYaSXQ$ 3 >KZ ^RO 0K`Y\S^O] L_^^YX KXN ^ROX ^KZ ^RO PK`Y\S^O cY_ aKX^ ^Y `SOa 3 >KZ @SOa KXN ^ROX +NN\O]] , K\ 3X ^RO KNN\O]] LK\ ^RK^ KZZOK\] K^ ^RO ^YZ YP ^RO ]M\OOX OX^O\ ^RO AOL KNN\O]] cY_ aKX^ ^Y `S]S^ KXN ^ROX ^KZ 1Y >KZ ^RO K\\Ya ^Y MRYY]O P\YW Z\O`SY_]Vc OX^O\ON KNN\O]]O] >Y KNN K PK`Y\S^O VSXU aRSVO _]SXQ ^RO NO`SMO QY ^Y ^RO ZKQO cY_ aKX^ ^Y KNN ^KZ KXN RYVN YX ^RO ZKQO KXN ^KZ +NN ^Y 0K`Y\S^O] ?]O\] 7KX_KV 1O^^SXQ -YXXOM^ON 615*+$# 2QEMGV 2% G %JCRVGT )GVVKPI %QPPGEVGF CY_ MKX _]O cY_\ NO`SMO ^Y ObMRKXQO SXPY\WK^SYX aS^R Y^RO\ WYLSVO NO`SMO] K] aOVV K] cY_\ MYWZ_^O\ CY_ RK`O ^RO PYVVYaSXQ MYXXOM^SYX YZ^SYX]$ 3 ?]O ^RO SXP\K\ON 3< ZY\^ YX cY_\ NO`SMO ^Y ]OXN KXN \OMOS`O PSVO] LO^aOOX ^aY NO`SMO] 3P ^RS] S] ^RO WO^RYN cY_ aKX^ ^Y _]O ]OO ^RO PYVVYaSXQ ]OM^SYX w>\KX]PO\ 3^OW] ?]SXQ 3XP\K\ONx 3 -YXXOM^ ^Y cY_\ MYWZ_^O\ ^Y ]cXMR\YXSdO \OWY^OVc 9XMO MYXXOM^ON cY_ MKX ]cXMR\YXSdO SXPY\WK^SYX ]_MR K] cY_\ :YMUO^ 9_^VYYU SXPY\WK^SYX 3P ^RS] S] ^RO WO^RYN cY_ aKX^ ^Y _]O ]OO +M^S`O=cXM 2OVZ YX cY_\ MYWZ_^O\ Y\ -YXXOM^SYX] 2OVZ YX ^RO NO`SMO 6TCPUHGT +VGOU 7UKPI +PHTCTGF ?]SXQ SXP\K\ON 3< cY_ MKX ]OXN KXN \OMOS`O SXPY\WK^SYX ]_MR K] MYX^KM^] KXN KZZYSX^WOX^] LO^aOOX ^aY NO`SMO] >Y ]OXN SXPY\WK^SYX$ =aS^MR ^Y ^RO Z\YQ\KW aRO\O cY_ M\OK^ON ^RO S^OW cY_ aKX^ ^Y ]OXN KXN VYMK^O ^RO S^OW SX ^RO VS]^ +VSQX ^RO 3< ZY\^] ]Y ^RK^ ^ROc K\O _XYL]^\_M^ON KXN aS^RSX K MVY]O \KXQO >KZ KXN RYVN ^RO S^OW KXN ^KZ , OKW 3^OW YX ^RO ZYZ_Z WOX_ CY_ MKX KV]Y ]OXN S^OW] L_^ XY^ PYVNO\] P\YW 0SVO /bZVY\O\ >KZ KXN RYVN ^RO S^OW cY_ aKX^ ^Y ]OXN KXN ^ROX ^KZ , OKW 0SVO YX ^RO ZYZ_Z WOX_ 6Q TGEGKXG KPHQTOCVKQP +VSQX ^RO 3< ZY\^] ]Y ^RK^ ^ROc K\O _XYL]^\_M^ON KXN aS^RSX K MVY]O \KXQO 2K`O ^RO YaXO\ YP ^RO Y^RO\ NO`SMO ]OXN ^RO SXPY\WK^SYX ^Y cY_ CY_\ NO`SMO aSVV K_^YWK^SMKVVc \OMOS`O S^ 7UGThU 7KX_KV ?]O\] /CPWCN ! 1O^^SXQ -YXXOM^ON 'PF C %QPPGEVKQP 3 3 AROX MYXXOM^ON `SK MKLVO Y\ M\KNVO NO^KMR cY_\ NO`SMO P\YW ^RO MKLVO Y\ M\KNVO AROX MYXXOM^ON `SK 3XP\K\ON WY`O ^RO NO`SMO KaKc P\YW ^RO :- )GV *GNR QP %QPPGEVKPI 3 3 3 9XVSXO 2OVZ YX ^RO :YMUO^ :- >KZ KXN ^ROX 2OVZ >KZ @SOa +VV 3X]^KVVON 2OVZ KXN ^ROX 3XLYb Y\ -YXXOM^SYX] +M^S`O=cXM 2OVZ YX ^RO MYWZ_^O\ 3X +M^S`O=cXM MVSMU 7SM\Y]YP^ +M^S`O=cXM 2OVZ YX ^RO 2OVZ WOX_ 0Y\ ^\Y_LVO]RYY^SXQ SXPY\WK^SYX ]OO ^RO :YMUO^:- AOL ]S^O K^$ R^^Z$aaaWSM\Y]YP^MYWWYLSVOZYMUO^ZM ?]O\] 7KX_KV ! 9Z^SYXKV 0_XM^SYX] 615*+$# 2QEMGV 2% G %JCRVGT 1RVKQPCN (WPEVKQPU *QOG CY_ MKX VK_XMR ^RO L_SV^SX Y\ SX]^KVVON KZZVSMK^SYX] OK]SVc Lc ^KZZSXQ ^RO SMYX NS]ZVKcON YX ^RO 2YWO ]M\OOX CY_ MKX KV]Y ]O^ ^Y NS]ZVKc K NO]S\ON LS^WKZ SWKQO YX cY_\ ]M\OOX LKMUQ\Y_XN . CWPEJKPI CP #RRNKECVKQP (TQO VJG *QOG >KZ :\YQ\KW] KXN ^ROX 2YWO ^Y NS]ZVKc ^RO 2YWO ]M\OOX CY_ MKX KV]Y VK_XMR ^RO 2YWO Lc Z\O]]SXQ ^RO >Y]RSLK :YMUO^ :2YWO L_^^YX 0Y\ SXS^SKV ]O^^SXQ ^RO \O]ZOM^S`O KZZVSMK^SYX SMYX] K\O \OQS]^O\ON YX ^R\OO ^KL]$ 7KSX :\YQ\KW] KXN 1KWO] 3X ^RO <_XXSXQ ^KL KM^S`O KZZVSMK^SYX] K\O NS]ZVKcON >KL] >KZ ^Y ]OVOM^ >KL =O^^SXQ]m Y\ +LY_^ >KZ ^Y ]OVOM^ 6K\QO 3MYX =WKVV 3MYX Y\ >Ob^ MYVY\m >KZ ^Y ]OVOM^ :K]^O Y\ +NN 7UGThU 7KX_KV ?]O\] /CPWCN " 9Z^SYXKV 0_XM^SYX] >KZ ^RO NO]S\ON ^KL KXN ^ROX ^KZ ^RO KZZVSMK^SYX SMYX cY_ aKX^ ^Y VK_XMR >RO ]OVOM^ON KZZVSMK^SYX ]^K\^] _Z +V]Y cY_ MKX VK_XMR KX KZZVSMK^SYX Lc WY`SXQ ^RO M_\]Y\ L_^^YX Y\ ]M\YVVO\ ^Y ]OVOM^ KXN Z\O]]SXQ ^RO MOX^O\ YP ^RO M_\]Y\ L_^^YX ^Y MYXPS\W CY_ MKX KNN ^KL] _Z ^Y K WKbSW_W YP USXN] KXN SMYX] _Z ^Y " SX K ^KL #DQWV 4WPPKPI 3X ^RO <_XXSXQ ^KL ^RO KM^S`O KZZVSMK^SYX XKWO] K\O NS]ZVKcON >RO SMYX] NY XY^ KZZOK\ #RRNKECVKQP #EVKXCVG5VQR >KZ ^RO KZZVSMK^SYX XKWO cY_ aKX^ ^Y KM^S`K^O CY_ MKX KV]Y KM^S`K^O ^RO KZZVSMK^SYX P\YW ^RO ZYZ_Z WOX_ NS]ZVKcON Lc ^KZZSXQ KXN RYVNSXQ ^RO KZZVSMK^SYX XKWO >KZ ^Y KM^S`K^O ^RO ]OVOM^ON KZZVSMK^SYX >KZ ^Y [_S^ ^RO ]OVOM^ON KZZVSMK^SYX AROX PSXS]RON ^RO KZZVSMK^SYX XKWO NS]KZZOK\] >KZ ^Y [_S^ KVV \_XXSXQ KZZVSMK^SYX] NS]ZVKcON SX ^RO <_XXSXQ ^KL CY_ MKX ]OVOM^ ^RO @SOa WOX_ Y\ ^RO >YYV] WOX_ YX ^RO <_XXSXQ ^KL ]M\OOX CY_ MKX ]OVOM^ >Ob^ MYVY\m P\YW ^RO @SOa WOX_ ^RO >KL =O^^SXQ]m Y\ +LY_^ P\YW ^RO >YYV] WOX_ \O]ZOM^S`OVc CY_ MKX ]RYa K ZYZ_Z WOX_ Lc ^KZZSXQ KXN RYVNSXQ KXc ZY\^SYX Y^RO\ ^RKX ^RO KZZVSMK^SYX XKWO] NS]ZVKcON SX ^RO <_XXSXQ ^KL 3X ^RS] MK]O YXVc =^YZ +VV S] ]OVOM^KLVO ?]O\] 7KX_KV " 9Z^SYXKV 0_XM^SYX] &KURNC[ +EQP . KUV >RO PYVVYaSXQ VS]^ ]RYa] ^RO ^KL] KXN SMYX] PY\ ^RO SXS^SKV ]O^_Z >KL] <_XXSXQ 7KSX 3MYX] { +ZZVSMK^SYX] { :YMUO^ 3X^O\XO^ /bZVY\O\ ASXNYa] 7ONSK :VKcO\ 8Y^O] >K]U] 3XLYb -KVOXNK\ -YX^KM^] :YMUO^ AY\N :YMUO^ /bMOV -KVM_VK^Y\ :\YQ\KW] 0SVO /bZVY\O\ . K^K , KMU_Z 3XP\K\ON <OMOS`O 1KWO] =YVS^KS\O /QXKPI CP #RRNKECVKQP +EQP KPVQ #PQVJGT 6CD >RO WY`ON SMYX S] ZVKMON XOb^ ^Y ^RO VK]^ SMYX YX ^RO ^KL ]M\OOX CY_ MKXXY^ WY`O KX SMYX SX^Y K ^KL aRSMR KV\OKNc MYX^KSX] " SMYX] 6Q OQXG WUKPI RQR WR OGPW >KZ KXN RYVN ^RO SMYX cY_ aKX^ ^Y WY`O ^Y NS]ZVKc ^RO ZYZ_Z WOX_ >KZ -_^ YX ^RO ZYZ_Z WOX_ >KZ ^RO NO]^SXK^SYX ^KL KXN ^ROX ^KZ :K]^O YX /NS^ WOX_ >RO ]OVOM^ON SMYX S] ZK]^ON YX ^RO ]M\OOX CY_ MKX KV]Y ]OVOM^ :K]^O P\YW ^RO ZYZ_Z WOX_ NS]ZVKcON Lc ^KZZSXQ KXN RYVNSXQ KXc ZY\^SYX Y^RO\ ^RKX ^RO SMYX ?]O\] 7KX_KV " 9Z^SYXKV 0_XM^SYX] &GNGVKPI CP +EQP >KZ KXN RYVN ^RO SMYX cY_ aKX^ ^Y NOVO^O ^Y NS]ZVKc ^RO ZYZ_Z WOX_ >KZ . \YZ YX ^RO ZYZ_Z WOX_ >RO SMYX S] NOVO^ON KXN ^RO XOb^ SMYX ZY]S^SYXON KP^O\ ^RO NOVO^ON SMYX K_^YWK^SMKVVc ]RSP^] ^Y PSVV ^RO NOVO^ON SMYX ZY]S^SYX +XN KVV SMYX] KP^O\ ^RO NOVO^ON SMYX VSUOaS]O ]RSP^ ^Y PSVV ^RO Z\O`SY_] SMYX ZY]S^SYX #FFKPI CP +EQP CY_ MKX KNN ^RO KZZVSMK^SYX KXN cY_\ PSVO SMYX] ^Y ^RO 2YWO ]M\OOX >KZ /NS^ KXN ^ROX +NN ^Y NS]ZVKc ^RO +NN +ZZVSMK^SYX ]M\OOX CY_ MKX KV]Y ]OVOM^ +NN P\YW ^RO ZYZ_Z WOX_ NS]ZVKcON Lc ^KZZSXQ KXN RYVNSXQ KXc ZY\^SYX Y^RO\ ^RKX ^RO SMYX >KZ 9 YP +ZZVSMK^SYX PSVO ^Y ]RYa ^RO PSVO VS]^ 3P ^RO\O S] XY NO]S\ON PSVO YX ^RO PSVO VS]^ cY_ MKX PSXN S^ Lc ^KZZSXQ , \Ya]O >Y \OPO\ ^Y KVV PYVNO\] KXN PSVO] ^KZ , \Ya]O ^Y ]RYa ^RO , \Ya]O . SKVYQ ]M\OOX AROX ^RO PSVO S] ]OVOM^ON S^] XKWO S] NS]ZVKcON SX ^RO +ZZVSMK^SYX PSVO LYb >KZ ^Y NO]SQXK^O K PYVNO\ cY_ aKX^ ^Y L\Ya]O AROX K ]^Y\KQO MK\N S] SX]O\^ON PSVO] Y\ PYVNO\] MYX^KSXON SX ^RO ]^Y\KQO MK\N K\O NS]ZVKcON P\YW ^RO ^YZ NS\OM^Y\c >KZ ^Y WY`O _Z ^Y K NS\OM^Y\c PYVNO\ YXO VO`OV KLY`O ^RO M_\\OX^Vc NS]ZVKcON YXO >KZ ^Y ]OVOM^ USXN] YP KZZVSMK^SYX Y\ PSVO ^Y LO L\Ya]ON 3P K PSVO S] ]OVOM^ON P\YW ^RO VS]^ ^RO ]M\OOX \O^_\X] ^Y ^RO +NN +ZZVSMK^SX ]M\OOX /X^O\ KX SMYX XKWO SX ^RO +ZZVSMK^SYX XKWO LYb aRSMR S] ^Y LO NS]ZVKcON YX ^RO 2YWO ]M\OOX CY_ MKX OX^O\ _Z ^Y K WKbSW_W YP MRK\KM^O\] AROX PSXS]RON ^KZ 95 ^Y MVY]O ^RO +NN +ZZVSMK^SYX ]M\OOX KXN ^RO XOa SMYX S] KNNON ^Y ^RO 2YWO ]M\OOX 3P ^RO +ZZVSMK^SYX PSVO S] XY^ NO]SQXK^ON Y\ SP ^RO +ZZVSMK^SYX XKWO S] XY^ OX^O\ON cY_ MKXXY^ KNN K XOa SMYX CY_ MKXXY^ VK_XMR ^RO SMYX KNNON P\YW ^RO ]^Y\KQO MK\N SP ^RO ]KWO MK\N S] XY^ SX]O\^ON SX ^RO >Y]RSLK :YMUO^ :- ?]O\] 7KX_KV " 9Z^SYXKV 0_XM^SYX] 6CD 5GVVKPI CY_ MKX ]O^ ^Y KNN NOVO^O Y\ \OXKWO ^RO ^KL YX ^RO >KL =O^^SXQ] ]M\OOX CY_ MKX KV]Y ]O^ ^Y NS]ZVKc K NO]S\ON LS^WKZ SWKQO YX cY_\ ]M\OOX LKMUQ\Y_XN 6Q CFF C VCD >KZ >YYV] KXN ^ROX >KL =O^^SXQ] ^Y NS]ZVKc ^RO >KL =O^^SXQ] ]M\OOX >KZ >KL =O^^SXQ] KXN ^ROX 8Oa ^Y NS]ZVKc K LYb ^Y OX^O\ ^RO XOa ^KL XKWO /X^O\ K XOa ^KL XKWO AROX PSXS]RON ^KZ C/= ^Y \O^_\X ^Y ^RO >KL =O^^SXQ] ]M\OOX CY_ MKX OX^O\ _Z ^Y K WKbSW_W YP MRK\KM^O\] >KZ 95 YX ^RO >KL =O^^SXQ] ]M\OOX ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX 6Q FGNGVG C VCD >KZ >YYV] KXN ^ROX >KL =O^^SXQ] =OVOM^ ^RO ^KL XKWO ^Y NOVO^O KXN ^ROX ^KZ . OVO^O ^RO . OVO^O ^KL NSKVYQ PY\ MYXPS\WSXQ KZZOK\] :VOK]O XY^O ^RK^ KVV ^RO SMYX] MYX^KSXON SX ^RO ]KWO ^KL aSVV KV]Y LO NOVO^ON >KZ 95 YX ^RO . OVO^O ^KL NSKVYQ ^Y NOVO^O ^RO ^KL AROX PSXS]RON ^RO ]M\OOX \O^_\X] ^Y >KL =O^^SXQ] ]M\OOX >KZ 95 YX ^RO >KL =O^^SXQ] ]M\OOX ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX CY_ MKXXY^ NOVO^O ^RO <_XXSXQ ^KL 6Q EJCPIG VJG PCOG QH C VCD >KZ >YYV] KXN ^ROX >KL =O^^SXQ] ^Y NS]ZVKc ^RO >KL =O^^SXQ] ]M\OOX =OVOM^ ^RO ^KL XKWO cY_ aKX^ ^Y MRKXQO KXN ^ROX ^KZ <OXKWO /X^O\ K XOa ^KL XKWO AROX PSXS]RON ^KZ 95 ^Y \O^_\X ^Y ^RO >KL =O^^SXQ] ]M\OOX CY_ MKX OX^O\ _Z ^Y K WKbSW_W YP MRK\KM^O\] >KZ 95 YX ^RO >KL =O^^SXQ] ]M\OOX ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX CY_ MKXXY^ \OXKWO ^RO <_XXSXQ ^KL NS]ZVKc ^RO , \Ya]O NSKVYQ ]M\OOX /`OX SP K ]^Y\KQO MK\N S] SX]O\^ON ^RO PSVO] SX ^RO ]^Y\KQO MK\N aSVV XY^ LO NS]ZVKcON >KZ ^RO NO]S\ON LS^WKZ PSVO P\YW ^RO VS]^ ^Y \O^_\X ^Y ^RO >KL =O^^SXQ] ]M\OOX >KZ 95 YX ^RO >KL =O^^SXQ] ]M\OOX ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX 3P ^RO ]OVOM^ON PSVO S] XY^ K LS^WKZ PSVO cY_ MKXXY^ ]O^ S^ YX cY_\ ]M\OOX LKMUQ\Y_XN>RO NS]ZVKcKLVO \KXQO YP ^RO LS^WKZ SWKQO YX ^RO 2YWO ]M\OOX S] A b 2 ?]O\] 7KX_KV " 6Q EJCPIG C DCEMITQWPF =OVOM^ ^RO ^KL YX ^RO >KL =O^^SXQ] WOX_ KXN ^ROX ^KZ , \Ya]O ^Y 9Z^SYXKV 0_XM^SYX] 6GZV %QNQT 5GVVKPI CY_ MKX ]O^ ^RO MYVY\ YP KZZVSMK^SYX XKWO PY\ OKMR ^KL _]SXQ >Ob^ -YVY\ >KZ ^RO ^KL aRY]O MYVY\ cY_ aKX^ ^Y ]O^ ^Y NS]ZVKc ^RO ]OVOM^ON ^KL ]M\OOX >KZ @SOa KXN ^ROX >Ob^ -YVY\ ^Y NS]ZVKc ^RO MYVY\ VS]^ CY_ MKX ]O^ ^RO MYVY\ YP ^RO KZZVSMK^SYX XKWO K] NO]S\ON >KZ ^RO MYVY\ cY_ aKX^ ^Y ]O^ KXN ^RO MYVY\ YP ^RO KZZVSMK^SYX XKWO MRKXQO] *QOG *GNR >KZZSXQ KX SMYX NS]ZVKcON K^ w2YWOx VK_XMRO] ^RK^ KZZVSMK^SYX 3X KNNS^SYX ^Y KZZVSMK^SYX] S^ S] KV]Y ZY]]SLVO ^Y \OQS]^O\ SMYX] PY\K]]YMSK^ON PSVO] RO\O >RO 2YWO ]M\OOX S] NS`SNON SX^Y ^KL] >RO\O K\O ^KL ^cZO] K] NOPK_V^ KXN _Z ^Y ^cZO] YP ^KL MKX LO \OQS]^O\ON +] PY\ ^RO SMYX] YX ^RO ^KL _Z ^Y " SMYX] ZO\ YXO ^KL MKX LO \OQS]^O\ON + LS^WKZ SWKQO MKX LO _]ON K] ^RO LKMUQ\Y_XN PY\ ^RO ^KL ]M\OOX i4WPPKPIt VCD >RO XKWO] YP M_\\OX^Vc \_XXSXQ KZZVSMK^SYX] K\O NS]ZVKcON K^ ^RO w<_XXSXQx ^KL +ZZVSMK^SYX] MKX LO ]aS^MRON Y\ ]^YZZON RO\O w>Ob^ -YVY\x MKX LO ]OVOM^ON P\YW ^RO w@SOax WOX_ KXN w>KL =O^^SXQ]x KXN w+LY_^x MKX LO ]OVOM^ON P\YW ^RO w>YYV]x WOX_ 3 >Y KM^S`K^O KZZVSMK^SYX] ^KZ KXN RYVN ^RO XKWO YP ^RO KZZVSMK^SYX cY_ aKX^ ^Y KM^S`K^O ^Y ^ROX ^KZ w+M^S`K^Ox P\YW ^RO ZYZ_Z WOX_ 3 >Y ]^YZ KX KZZVSMK^SYX ^KZ KXN RYVN ^RO XKWO YP ^RO KZZVSMK^SYX cY_aKX^ ^Y ]^YZ ^ROX MRYY]O w=^YZx P\YW ^RO ZYZ_Z WOX_ 3P w=^YZ +VVx S]]OVOM^ON P\YW ^RO ZYZ_Z WOX_ KVV M_\\OX^Vc \_XXSXQ KZZVSMK^SYX] K\O ]^YZZON 3 w=^YZ +VVx MKX KV]Y LO ]OVOM^ON Lc ^KZZSXQ KXN RYVNSXQ YX ^RO w<_XXSXQx ^KL ]M\OOX aS^RY_^ ]OVOM^SXQ KX KZZVSMK^SYX XKWO . CWPEJKPI CRRNKECVKQPU AROX KX SMYX YX ^RO ^KL ]M\OOX S] ^KZZON ^RO KZZVSMK^SYX Y\ K]]YMSK^ON PSVO \OQS]^O\ON K^ ^RO SMYX S] VK_XMRON 3 +ZZVSMK^SYX] MKX KV]Y LO VK_XMRON Lc ]OVOM^SXQ ^ROW aS^R ^RO M_\]Y\ L_^^YX ^ROX Z\O]]SXQ YX ^RO MOX^O\ YP ^RO M_\]Y\ L_^^YX 5YKVEJKPI VJG KEQP FKURNC[ >KZ YX ^RO w@SOax WOX_ ^Y NS]ZVKc ^RO M_\\OX^ NS]ZVKc ]O^^SXQ] -_\\OX^NS]ZVKc ]O^^SXQ] K\O SXNSMK^ON Lc MROMU WK\U] K^ ^RO VOP^ >Y ]aS^MR ^RO NS]ZVKc ]OVOM^ w6K\QO 3MYXx Y\ w=WKVV 3MYXx ?]O\] 7KX_KV " 9Z^SYXKV 0_XM^SYX] +EQP UGVVKPIU /QXKPI KEQPU WUKPI VJG RQR WR OGPW >KZ KXN RYVN ^RO SMYX cY_ aKX^ ^Y WY`O YX ^RO ^KL ]M\OOX AROX ^RO ZYZ_Z WOX_ KZZOK\] ]OVOM^ w-_^x P\YW ^RO WOX_ >KZ YX ^RO ^KL ^Y aRSMR cY_ aKX^ ^Y WY`O ^RO SMYX ^ROX ^KZ w:K]^OxP\YW ^RO w/NS^x WOX_ ^Y WY`O ^RO SMYX KXN NS]ZVKc S^ YX ^RO ^KL ]M\OOX 3 w:K]^Ox MKX KV]Y LO ]OVOM^ON P\YW ^RO ZYZ_Z WOX_ NS]ZVKcON aROX cY_ ^KZ KXN RYVN K^ K ZY]S^SYX YX ^RO ]M\OOX Y^RO\ ^RKX YX SMYX 3 3^ S] XY^ ZY]]SLVO ^Y WY`O SMYX] ^Y ^KL] KV\OKNc MYX^KSXSXQ " SMYX] AROX KX SMYX S] WY`ON S^ S] ZY]S^SYXON K^ ^RO `O\c OXN YP ^RO ^KLv] SMYX] &GNGVKPI KEQPU >KZ KXN RYVN ^RO SMYX cY_ aKX^ ^Y NOVO^O + ZYZ_Z WOX_ KZZOK\] >KZ w. \YZx P\YW ^RO ZYZ_Z WOX_ ^Y NOVO^O ^RO ]OVOM^ON SMYX P\YW ^RO ^KL ]M\OOX 3 AROX KX SMYX S] NOVO^ON ]_L]O[_OX^ SMYX] K\O KVV WY`ON _Z YXO ZVKMO #FFKPI KEQPU >KZ ^RO ^KL ^Y aRSMR cY_ aKX^ ^Y KNN KX SMYX ^Y ]OVOM^ ^RK^ ^KL >KZ w+NNx P\YW ^RO w/NS^x WOX_ ^Y NS]ZVKc ^RO w+NN +ZZVSMK^SYXx ]M\OOX >KZ ^RO w+ZZVSMK^SYX PSVOx LYb 0\YW ^RO VS]^ ^KZ ^RO KZZVSMK^SYX cY_ aKX^ ^Y KNN >Y ]OVOM^ K PSVO XY^ YX ^RO VS]^ ^KZ ^RO w, \Ya]Ox L_^^YX ^ROX ]OVOM^ ^RO PSVO P\YW ^RO , \Ya]O . SKVYQ 3XZ_^ ^RO XKWO YP ^RO SMYX cY_ aKX^ ^Y KNN _Z ^Y MRK\KM^O\] SX ^RO w+ZZVSMK^SYX XKWOx LYb >KZ ^RO w95x L_^^YX >RO XOa SMYX S] KNNON 3 +]]YMSK^ON PSVO] MKX LO ]ZOMSPSON PY\ KNNON SMYX] 3 3P OS^RO\ YXO YP w+ZZVSMK^SYX PSVOx Y\ w+ZZVSMK^SYX XKWOx S] XY^ PSVVON SX KX SMYX MKX XY^ LO KNNON ?]O\] 7KX_KV "! 9Z^SYXKV 0_XM^SYX] $TQYUG &KCNQI >KZ ^RO w0YVNO\x LYb ^Y ]OVOM^ ^RO PYVNO\ ^Y LO L\Ya]ON >KZ ^RO w>cZOx LYb ^Y ]OVOM^ ^RO ^cZO YP PSVO ^Y LO L\Ya]ON >RO VS]^ YP ^RO PSVO] YP ^RO ]ZOMSPSON ^cZO KXN SX ^RO ]ZOMSPSON PYVNO\ KZZOK\] YX ^RO ]M\OOX =OVOM^ ^RO NO]S\ON KZZVSMK^SYX Y\ PSVO Y\ ^RO LS^WKZ SWKQO ^Y LO _]ON K] ^RO LKMUQ\Y_XN KXN ^KZ S^ >RO Y\SQSXKV ]M\OOX \OKZZOK\] 3 3P K ]^Y\KQO MK\N S] SX]O\^ON SX^Y ^RO WKSX _XS^ aROX KNNSXQ SMYX] SMYX] YP KZZVSMK^SYX] KXN PSVO] YX ^RO ]^Y\KQO MK\N K\O KV]Y NS]ZVKcON YX ^RO L\Ya]O ]M\OOX >RO PYVNO\] KXN PSVO] YX ^RO ]^Y\KQO MK\N MKX LO NS]ZVKcON SX ^RO w0YVNO\x LYb LOQSXXSXQ K^ ^RO ^YZWY]^ VO`OV 3 3P KX SMYX YX K ]^Y\KQO MK\N S] KNNON ^RK^ ]^Y\KQO MK\N W_]^ LO SX]O\^ON aROX ^RO SMYX S] ^KZZON Y\ ^RO PSVO aSVV XY^ LO VK_XMRON 6CD UGVVKPIU 5YKVEJKPI VCDU >KZ YX KXY^RO\ ^KL ^Y ]aS^MR ^RO ^KL ]M\OOX 3XS^SKVVc PY_\ ^KL] K\O \OQS]^O\ON$ w<_XXSXQx w7KSXx w:\YQ\KW]x KXN w1KWO]x %JCPIKPI VCD PCOGU =OVOM^ w>KL =O^^SXQ]x P\YW ^RO w>YYV]x WOX_ >RO w>KL =O^^SXQ]x ]M\OOX KZZOK\] >KZ ^RO w=OVOM^ ^KLx LYb ^Y ]OVOM^ ^RO ^KL ^Y LO MRKXQON >KZ ^RO w<OXKWOx L_^^YX >RO ]M\OOX PY\ SXZ_^^SXQ ^RO XOa ^KL XKWO KZZOK\] 3XZ_^ ^RO XOa ^KL XKWO _Z ^Y MRK\KM^O\] SX^Y ^RO w<OXKWO ^Yx LYb >KZ ^RO w95x L_^^YX >RO ^KL XKWO S] MRKXQON KXN ^RO w>KL =O^^SXQ]x]M\OOX \OKZZOK\] >KZ w95x K^ ^RO _ZZO\ \SQR^ ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX ?]O\] 7KX_KV "" 9Z^SYXKV 0_XM^SYX] &GNGVKPI VCDU =OVOM^ w>KL =O^^SXQ]x P\YW ^RO w>YYV]x WOX_ >RO w>KL =O^^SXQ]x ]M\OOX KZZOK\] >KZ ^RO w=OVOM^ ^KLx LYb ^Y ]OVOM^ ^RO ^KL ^Y LO NOVO^ON >KZ ^RO w. OVO^Ox L_^^YX + NSKVYQ K]USXQ cY_ ^Y MYXPS\W cY_ aKX^ ^Y NOVO^O ^RO ^KL KZZOK\] >KZ ^RO wCO]x L_^^YX >RO ^KL S] NOVO^ON KXN ^RO w>KL =O^^SXQ]x ]M\OOX \OKZZOK\] >KZ w95x K^ ^RO _ZZO\ \SQR^ ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX 3 8Y^O ^RK^ aROX K ^KL S] NOVO^ON KVV ^RO SMYX] YX ^RK^ ^KL K\O KV]Y NOVO^ON 3 w. OVO^Ox MKXXY^ LO ]OVOM^ON SP ^RO\O K\O YXVc ^aY ^KL] YX ^RO 2YWO ]M\OOX #FFKPI VCDU =OVOM^ w>KL =O^^SXQ]x P\YW ^RO w>YYV]x WOX_ >RO w>KL =O^^SXQ]x ]M\OOX KZZOK\] >KZ ^RO w8Oax L_^^YX +X SXZ_^ ]M\OOX KZZOK\] 3XZ_^ ^RO XKWO cY_ aKX^ ^Y QS`O ^RO ^KL _Z ^Y MRK\KM^O\] SX^Y ^RO w8Oa ^KLx LYb >KZ ^RO w95x L_^^YX >RO XOa ^KL S] KNNON KXN ^RO w>KL =O^^SXQ]x ]M\OOX \OKZZOK\] >KZ w95x K^ ^RO _ZZO\ \SQR^ ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX 5GVVKPI VJG DCEMITQWPF DKVOCR =OVOM^ w>KL =O^^SXQ]x P\YW ^RO w>YYV]x WOX_ >RO w>KL =O^^SXQ]x ]M\OOX KZZOK\] =OVOM^ ^RO ^KL aRY]O LKMUQ\Y_XN cY_ aKX^ ^Y ]O^ K^ ^RO w=OVOM^ ^KLx LYb >KZ ^RO w, \Ya]Ox L_^^YX ^Y NS]ZVKc ^RO , \Ya]O . SKVYQ =OVOM^ KXN ^KZ ^RO LS^WKZ SWKQO ^Y LO _]ON K] ^RO LKMUQ\Y_XN >RO w>KL =O^^SXQ]x ]M\OOX \OKZZOK\] >KZ w95x K^ ^RO _ZZO\ \SQR^ ^Y \O^_\X ^Y ^RO 2YWO ]M\OOX 5GVVKPI VJG VGZV EQNQT . SPPO\OX^ MYVY\] MKX LO ]O^ PY\ ^RO KZZVSMK^SYX XKWO] K^ ^RO NSPPO\OX^ ^KL] . S]ZVKc ^RO ^KL aRY]O MYVY\ cY_ aKX^ ^Y ]O^ ^ROX ]OVOM^ w>Ob^ -YVY\xP\YW ^RO w@SOax WOX_ >KZ ^RO MYVY\ cY_ aKX^ ^Y ]O^ P\YW ^RO VS]^ YP NS]ZVKc MYVY\] >RK^ MYVY\ S] ]O^ PY\ ^RO KZZVSMK^SYX XKWO] ?]O\] 7KX_KV "# 9Z^SYXKV 0_XM^SYX] *QY VQ /CMG C $CEMWR CY_ MKX WKUO K LKMU_Z YP ^RO >Y]RSLK :YMUO^ :- NK^K ^Y K =. 7OWY\c -K\N 3P cY_ RK`O LKMUON _Z cY_\ NK^K YX K =. 7OWY\c MK\N cY_ MKX \O]^Y\O ^RK^ NK^K SX cY_\ >Y]RSLK :YMUO^ :- CY_ MKX KV]Y NOVO^O LKMU_Z PSVO NK^K P\YW ^RO =. 7OWY\c MK\N :O\SYNSMKV NK^K LKMU_Z S] \OMYWWOXNON . K^K YP ^RO PYVVYaSXQ ^R\OO ^cZO] MKX LO LKMUON _Z$ 0SVO$ 3XMV_NO] K PSVO M\OK^ON Lc :YMUO^ AY\N :YMUO^ /bMOV 8Y^O] O^M Y\ KX KNNS^SYXKVVc SX]^KVVON Z\YQ\KW KXN ]Y YX <OQS]^\c$ =O^^SXQ SXPY\WK^SYX YX :YMUO^ :- Y\ , _SV^SX :\YQ\KW . K^KLK]O$ . K^KLK]O SXPY\WK^SYX YP 7SM\Y]YP^ :YMUO^ 9_^VYYU 3P cY_ _ZNK^O <97 Z\YQ\KW] _]SXQ ]ZOMSKV SX]^KVVK^SYX Z\YQ\KW] aS^R K bSZ Ob^OX]SYX NY XY^ _]O ^RO LKMU_Z NK^K aRSMR cY_ WKNO LOPY\O _ZNK^SXQ <97 Z\YQ\KW] AROX _]SXQ ^RO . K^K, KMU_Z LOaK\O YP ^RO \OWKSXSXQ LK^^O\c MRK\QO 3P cY_ WKUO K LKMU_Z ^Y ^RO =. [. . . ] WOWY\c MK\N =. 39 MK\N Y\ 7_V^SWONSK MK\N 8Y^O$ >RO ]OM_\S^c P_XM^SYX YP ^RO =. WOWY\c MK\N S] XY^ _]KLVO . K^K OXM\cZ^ON Lc ^RO =. [. . . ]

DISCLAIMER TO DOWNLOAD THE USER GUIDE TOSHIBA E335

Lastmanuals offers a socially driven service of sharing, storing and searching manuals related to use of hardware and software : user guide, owner's manual, quick start guide, technical datasheets...
In any way can't Lastmanuals be held responsible if the document you are looking for is not available, incomplete, in a different language than yours, or if the model or language do not match the description. Lastmanuals, for instance, does not offer a translation service.

Click on "Download the user manual" at the end of this Contract if you accept its terms, the downloading of the manual TOSHIBA E335 will begin.

Search for a user manual

 

Copyright © 2015 - LastManuals - All Rights Reserved.
Designated trademarks and brands are the property of their respective owners.

flag