ࡱ > z O G h k ` > bjbjss ; : % ! 1 1 1 8 ,2 (3 4k . 4 h x6 " 6 6 6 ; EA )C wj yj yj yj yj yj yj $ bl h n x j Q F }; " ; F F j 6 6 j N N N F 2 V 6 6 wj N F wj N N 6 c Cf 6 4 1 GH d h k 0 4k d ` Bo K Bo 8 Cf Bo Cf F F N F F D ?8A8
! ,'
C !, + #/" '!" -" - ! ! ", , " +% $,"
!?5F80;L=>ABL 0 5 . 0 9 . 0 1 . -;5:B@>8A:0=85 CG5=>9 AB5?5=8
:0=4840B0 B5E=8G5A:8E =0C:
! 2 0 0 7
01>B0 2K?>;=5=0 2 >AC40@AB25==>20B5;L=> @>D5AA8>=0;L=>3> 1@07>20=8O >A:>2A:>==KE 0??0@0B>2
0CG=K9 @C:>2>48B5;L - 4>:B>@ B5E=8G5A:8E =0C:,
?@>D5AA>@ >70=>2 .@89 >=AB0=B8=>28G
D8F80;L=K9 >??>=5=B - 4>:B>@ B5E=8G5A:8E =0C:,
?@>D5AA>@ C:8= =0B>;89 ;04828G
:0=4840B B5E=8G5A:8E =0C:,
4>F5=B C@5 @8=0 5>@3852=0
54CI55 ?@54?@8OB85 - KA>:>2>;LB=K9 =0CG=>- 8AA;54>20B5;LA:89 F5=B@ - D8;80; >AC40@AB25==>3> C=8B0@=>3> ?@54?@8OB8O " A5@>AA89A:89 M;5:B@>B5E=8G5A:89 8=AB8BCB 8AB>8BAO 2 2 8N=O 2 0 0 7 3.
=0 70A540=88 48AA5@B0F8>==>3> A>25B0 2 1 2 . 1 5 7 . 1 5 ?@8 # - ( "#)
2 0C48B>@88 - 2 0 5 2 _ _ _ 1 1 _ _ _ _ G0A. _ _ 0 0 _ _ _ _ _ _ 04@5AC: 1 1 1 2 5 0 , >A:20, @0A=>:070@<5==0O C;. , 4. 1 3 .
! 48AA5@B0F859 6=> >7=0:>B5:5 # - ( "#) .
B7K2K 2 42CE M:75A8 04@5AC: 1 1 1 2 5 0 , >A:20, @0A=>:070@25B - ( "#) .
2B>@5D5@0B @07>A;0= _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 2 0 0 7 3.
#G5=K9 A5:@5B0@L
48AA5@B0F8>==>3> A>25B0 2 1 2 . 1 5 7 . 1 5
:. B. =. 4>F. !>:>;>20 . .
)/ % " !" "+
:BC0;L=>ABL @01>BK. >@B0 A>2@53> M;5:B@>>1>@C4>20=8O, ?@8<5=O53> 2 @07;8G=KE AD5@0E G5;>25G5A:>9 45OB5;L=>AB8, 8 2K?>;=5=85 2>7;>65==KE =0 =53> DC=:F89 7028A8B >B :0G5AB20 M;5:B@>M=5@388.
A2O78 A @0728B85M=5@35B8:8 ?@>1;5M=5@388 ?@8>1@5B05B 2A5 1>;LH55 7=0G5=85. =0 CAC3C18;0AL 2:8< 2=54@5=85872>4AB25, B0: 8 2 1KBC, A8;>2KE M;5:B@>==KE ?@5>1@07>20B5;59. -B> A2O70=> A 8E =530B82=K< 2;8O=85 ?@>O2;O5BAO, 2 >A=>2=>9 I=>AB8 8 I=>AB8 8A:065=8O. @8G8=>9 MB>3> O2;O5BAO 8F5AA>2 ?@5>1@07>20=8O M;5:B@>M=5@388 ?>A@54AB2>< :;NG52KE M;52.
;O C;CGH5=8O :0G5AB20 M;5:B@>M=5@388 B@048F8>==> 8A?>;L7CNBAO CAB@>9AB20: B8@8AB>@=K5 AB018;870B>@K, :>=45=A0B>@=K5 10B0@58, A8=E@>==K5 :>@K, ?0AA82=K5 D8;LB@K. @>3> ?>;CG8;8 @0A?@>AB@0=5=85 0??0@0BK 15A?5@51>9=>3> ?8B0=8O ( ) , 8 @53C;OB>@K :0G5AB20 M;5:B@>M=5@388, :>B>@K5, :0: ?@028;>, 8;L:> DC=:F89. 1;040O >?@545;5==KAB0B:09AB20 =5 ?>72>;ONB 2 @O45 A;CG052 MDD5:B82=> @5H0BL 2>7;>65==K5 =0 =8E 7040G8.
>20O M;52>9 M;5:B@>=8:8, ?>O282H0OAO 2 9 0 - E 3>40E %% 25:0, ?>72>;8;0 A>74020BL MDD5:B82=K5 ?@5>1@07>20B5;8 ?5@53>/ ?>AB>O==>3> B>:0, @01>B0NI8E 2 4 - E :204@0=B0E :>9 ?;>A:>AB8 ?0@02 =0 AB>@>=5 ?5@53> B>:0, GB> ?>72>;O5B C?@02;OBL ?>B>:0M=5@388 2 ;N1> 7040==>=C. @8 ?>4:;NG5=88 =0:>?8B5;59 M=5@388 : ?@5>1@07>20B5;N A> AB>@>=K ?>AB>O==>3> B>:0 AB0=>28BAO 2>76=KACI5AB2;OBL >19 I=>ABLN, 2:;NG0NI59 I=>ABL 2KAH8E 30@=8: <564C A5BLN ?5@53> B>:0 8 =0:>?8B5;5<. -B0 AE5A=>25 =081>;55 MDD5:B82=KE 8 ?5@A?5:B82=KE 4>2 @53C;8@>20=8O :0G5AB20 M;5:B@>M=5@388, :>B>@K5 1K;8 ?@8740=88 0:B82=KE 8 381@84=KE D8;LB@>2, ?@54=07=0G5==KE 4;O CAB@0=5=8O 8A:065=89 B>:0 8;8 =0?@O65=8O.
!>2@5<5==K5 4K 0:B82=>9 D8;LB@0F88 8 :>9 I=>AB8 1K;8 CA?5H=> 8A?>;L7>20=K 4;O @5H5=8O 4@C38E 7040G, A2O70==KE A >15A?5G5=85M=5@388. ! CG5B>76=>AB59 0:B82=>3> D8;LB@0, 1K; @07@01>B0= @53C;OB>@ :0G5AB20 M;5:B@>M=5@388 =>2>3> ?>:>;5=8O, GB> =0H;> A2>5 >B@065=85 2 @01>B0E ?@>2>4870=>2K< .. . , O1G8F:8 CAB@>9AB2> A?>A>1=> AB018;878@>20BL =0?@O65=85 =0 =03@C7:5, >15A?5G820O ?@8 MB>:>2 2KAH8E 30@=8: 8 :>9 I=>AB8 =03@C7:8.
=> O2;O5BAO >4=8< 87 A04=OH=89 45=L, ?>A:>;L:C 2 >B;8G85 >B 4@C38E, 2K?>;=ONI8E B5 65 DC=:F88, 8A?>;L7C5B >4=>:@0B=>5 ?@5>1@07>20=85 M=5@388 A 703@C7:>9 A8;>2>9 G0AB8 @53C;OB>@0 ?@>?>@F8>=0;L=> CEC4H5=8N :0G5AB20 M;5:B@>M=5@388.
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
&5;L @01>BK. !>740=85 C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 ( # -) A C;CGH5==K- M:>=><8G5A:8:070B5;O2 2 A515 DC=:F88 ?>A;54>20B5;L=>3> 8 ?0@0;;5;L=>3> 0:B82=KE D8;LB@>2 8 >15A?5G820NI53> 7040==>5 :0G5AB2> 2KE>4=>3> =0?@O65=8O, D8;LB@0F8N 2KAH8E 30@=8: B>:0 8 :>9 I=>AB8 =03@C7:8 ?@8 @07;8G=KE 2>77459AB28OE =03@C7:8 8 ?8B0NI59 A5B8, 2:;NG0O :@0B:>2@520;K 2E>4=>3> =0?@O65=8O 8 8A:065=85 53> D>@AB865=85 F5;8 8AA;54>20=8O ?>B@51>20;> @5H5=85 A;54CNI8E =0CG=>- 8AA;54>20B5;LA:8E 8 ?@0:B8G5A:8E 7040G:
@>2545=8O 0=0;8B8G5A:>3> >17>@0 A>2@5- B5E=8G5A:8E @5H5=89 2 >1;0AB8 C;CGH5=8O :0G5AB20 M;5:B@>M=5@388 8 2KO2;5=85 =081>;55 ?5@A?5:B82=KE 4>2 @53C;8@>20=8O ?0@02 M;5:B@>M=5@388 A ?@8<5=5=852KE M;5:B@>==KE ?@81>@>2;
07@01>B:8 ?@8=F8?0 A>740=8O C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 =0 >A=>25 ?>A;54>20B5;L=>3> 8 ?0@0;;5;L=>3> 0:B82=KE D8;LB@>2;
@>2545=8O 0=0;870 M;5:B@>F5AA>2 2 AB0B8G5A:8E 8 48=0<8G5A:8E @568BK 8 =0 53> >A=>25 @07@01>B:0 48:8 8=65=5@=>3> ?@>5:B8@>20=8O A8;>2>9 G0AB8 @53C;OB>@0;
07@01>B:8 0;3>@8B<0 C?@02;5=8O 8 A8AB5@>M=5@388, ?>72>;ONI8E @50;87>20BL 53> DC=:F88 8 >15A?5G8BL A2>52@57=8:=>25=88 020@89=KE A8BC0F89;
07@01>B:8 <0B5<0B8G5A:8E 45;59.
5B>4K 8AA;54>20=8O. ;O @5H5=8O ?>AB02;5==KE 7040G 1K;8 8A?>;L7>20=K 4K <0B53> 0=0;870, 4K B5>@88 M;5:B@8G5A:8E F5?59, G8A;5==K5 4K @5H5=8O C@02=5=89 =0 - , 4K B5>@88 02B>3> C?@02;5=8O ( G0AB>B=K5 E0@0:B5@8AB8:8 8 G0AB>B=K9 0=0;87 :0G5AB20) , 4K 0=0;870 ?@5>1@07>20B5;59 ?5@53>/ ?>AB>O==>3> B>:0 8 <0B53> 45;8@>20=8O.
1>A=>20=85 8 4>AB>25@=>ABL @57C;LB0B>2. !?@0254;82>ABL B5>@5B8G5A:8E ?>;>65=89 ?>4B25@6405BAO 8A?>;L7>20=8518@>20==KE 4>2 0=0;870 M;5:B@>F5AA>2 2 A8;>2KE M;5:B@>==KE CAB@>9AB20E 8 :>@@5:B=>ABLN ?@8=OBKE 4>?CI5=89, 0 B0:65 @57C;LB0B03> 8 D878G5A:>3> 45;8@>20=8O.
0CG=0O =>287=0. 0 70I8BC 2K=>AOBAO:
@8=F8? A>740=8O C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 =0 >A=>25 ?>A;54>20B5;L=>3> 8 ?0@0;;5;L=>3> 0:B82=KE D8;LB@>2 4;O C?@02;5=8O M;5:B@8G5A:8<8 ?0@0<5B@0A=>25 25:B>@=>3> C?@02;5=8O B>:>< 8 =0?@O65=8548:0 8=65=5@=>3> ?@>5:B8@>20=8O M;52 A8;>2>9 G0AB8;
@8=F8? ?>AB@>5=8O 8 0;3>@8B=8@>20=8O F8D@>2>9 A8AB5<K C?@02;5=8O;
0B5<0B8G5A:0O 45;L 4;O 8AA;54>20=8O E0@0:B5@8AB8: @53C;OB>@0 2 AB0B8G5A:8E 8 48=0<8G5A:8E @568BK.
@0:B8G5A:0O F5==>ABL. @57C;LB0B5 2K?>;=5==>9 @01>BK @07@01>B0=> =>2>5 AE5B5E=8G5A:>5 @5H5=85 C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388, ?>72>;ONI53> A=878BL I=>ABL A8;>2>9 G0AB8 @0=55 @07@01>B0==KE @53C;OB>@>2 8 2 B>65 2@5=0;L=K5 2>76=>AB8, ?>72>;ONI85 >15A?5G8BL 2KA>:>5 :0G5AB2> M;5:B@>A=0165=8O ?>B@518B5;59, 8 :>20BL 8E =530B82=>5 2;8O=85 =0 A5BL.
50;870F8O @01>BK. >;CG5==K5 @57C;LB0BK @01>BK 8A?>;L7>20=K 2 @01>B0E ?@>2>489 -8- - ( "#) A>2 A - ( >A:>2A:89 702>4 M;5:B@>87@>2) ?> @07@01>B:5 1@07F>2 1KB>2KE :>=48F8>=5@>2 A5B8 4;O ?>2KH5=8O :0G5AB20 M;5:B@>M=5@388.
?@>10F8O. 57C;LB0BK 48AA5@B0F8>==>9 @01>BK 4>:;04K20;8AL 8 >1AC640;8AL =0 4=KE :>=D5@5=F8OE --- - 2 0 0 6 ( @K B5?C1;8:>20=> 3 ?5G0B=KE @01>BK 8 ?>;CG5=> ?>;>68B5;L=>5 @5H5=85 $# $ ! > 2K40G5 ?0B5=B0 =0 87>1@5B5=85 ?> 70O2:5 ! 2 0 0 6 1 0 8 8 2 0 / 0 9 ( 0 0 9 5 8 8 ) >B 2 1 . 0 3 . 0 6 !B018;870B>@ =0?@O65=8O .
!B@C:BC@0 8 >1J5BK. 8AA5@B0F8>==0O @01>B0 A>AB>8B 87 22545=8O, G5BK@5E 3;02, 70:;NG5=8O 8 A?8A:0 ;8B5@0BC@K. 1J5BK A>AB02;O5B 1 7 1 AB@. 8 A>45@68B 9 2 @8AC=:0, 8 B01;8F, 8 4 =0820=8O A?8A:0 ;8B5@0BC@K.
! "+
> 22545=88 >1>A=>20=0 0:BC0;L=>ABL B5@20=K F5;L, 7040G8 8AA;54>20=8O, =0CG=0O =>287=0 8 ?@0:B8G5A:0O F5==>ABL 48AA5@B0F8>==>9 @01>BK.
?5@2>9 3;025 ?@>2545= 0=0;87 ?>:070B5;59 :0G5AB20 M;5:B@>M=5@388 ( -) =0 >A=>25 >B5G5AB25==KE 8 70@C156=KE AB0=40@B>2, 0 B0:65 2KO2;5=K =081>;55 G0AB> 2AB@5G0NI85AO A;CG08 CEC4H5=8O :0G5AB20 M;5:B@>M=5@388. ?@545;5=K 3@C??K ?>B@518B5;59 =081>;55 :@8B8G=KE : >B:;>=5=8O:070B5;59 :0G5AB20. >:070=0 206=>ABL AB018;L=>AB8 ?8B0NI53> =0?@O65=8O 4;O =0456=>9 @01>BK ?>B@518B5;59 M;5:B@>M=5@388. B, GB> =081>;55 G0ABKM=5@388, :0: 2 >AA88, B0: 8 70 @C156>=865==>5 =0?@O65=85, 0 B0:65 :@0B:>2@520;K ( 1 - 3 ?5@8>40) =0?@O65=8O A5B8. >:070=> =530B82=>5 2;8O=85 =5;8=59=KE ?>B@518B5;59 =0 :0G5AB2> M;5:B@>M=5@388, 0 B0:65 @0AAB@5=K ?>A;54AB28O 2>7459AB28O 2KAH8E 30@=8: =0 M;5:B@8G5A:85 =45=A0B>@>2, M;5:B@8G5A:85 8 M;5:B@>==K5 0??0@0BK.
0AAB@5=K @07;8G=K5 CAB@>9AB20, ?@54=07=0G5==K5 4;O C;CGH5=8O :0G5AB20 M;5:B@>M=5@388. >:070=K 8E ?@58AB0B:8. 17>@ A@54AB2 C;CGH5=8O :0G5AB20 M;5:B@>M=5@388 ?>:070;, GB> 1>;LH8=AB2> 87 ACI5AB2CNI8E 4>2 =0?@02;5=K =0 C;CGH5=85 >4=>3> -, ?>MB><C 8E ?@8 8 M:>=>>1@07=>. !45;0= 2K2>4 > =5>1E>48AB8 A>740=8O =>2KE CAB@>9AB2, A?>A>1=KE :> @5H0BL ?@>1;5M=5@388 2 A8AB5B@518B5;L.
07@01>B0==K5 =0 A53>4=OH=89 45=L @53C;OB>@K :0G5AB20 M;5:B@>M=5@388 =0 1075 ?0@0;;5;L=KE 0:B82=KE D8;LB@>2 ( @8A. 1 ) A?>A>1=K 2 1>;LH8=AB25 A;CG052 =5 B>;L:> >15A?5G8BL :0G5AB25==>5 ?8B0=85 ?>B@518B5;59, => 8 A:>20BL 8E =530B82=>5 2;8O=85 =0 !-. 4=0:> >=8 8AB0B:>2, >3@0=8G820NI89 8E ?@8<5=5=85 A C25;8G5=85< I=>AB8 =03@C7:8 ( F5;5A>>1@07=> ?@8 1 :B) . >MB>9 O2;O5BAO 7040G0 A>25@H5=AB2>20=8O AE5@0 ( A=865=85 I=>AB8 ?@5>1@07>20B5;O ?0@0;;5;L=>3> 0:B82=>3> D8;LB@0) 8 @0AH8@5=85 53> DC=:F8>=0;L=KE 2>76=>AB59.
8A. 1 . @8=F8?80;L=0O AE5@0 :0G5AB20 M;5:B@>M=5@388
53C;OB>@ :0G5AB20 M;5:B@>M=5@388 A>AB>8B 87 ?0@0;;5;L=>3> 0:B82=>3> D8;LB@0 8 4@>AA5;O L ( @8A. 1 ) . :B82=K9 D8;LB@ >ACI5AB2;O5B D8;LB@0F8N B>:0 =5;8=59=>9 =03@C7:8 Z 70 AG5B 35=5@0F88 2KAH8E 30@=8: B>:0 2 ?@>B82>D075 A B>:0<8 2KAH8E 30@=8: =03@C7:8. ;03>40@O MB><C 2KAH85 30@=8:8 B>:0 =03@C7:8 :>4:;NG5=8O D8;LB@0. ! 4@C3>9 AB>@>=K ?@5>1@07>20B5;L :>AB02;ONICN B>:0 =03@C7:8 8 35=5@8@C5B @50:B82=K9 B>: 2 A5BL. @8G53> 7=0G5=8O A5B52>9 B>: 8 ?@82>48B : A=865=8N =0?@O65=8O =0 =03@C7:5 8 =0>1>@>B, 0 5A;8 =0?@O65=85 A5B8 =865 =>: 1C45B 5AB=K ?@82545B : C25;8G5=8N =0?@O65=8O =0 =03@C7:5.
1>;55 H8@>:>< A< A;CG05 6=> AG8B0BL @53C;OB>@>;=>9 @50:B82=>9 I=>AB8, 2:;NG0O I=>ABL >A=>2=>9 30@=8:8 8 I=>ABL 8A:065=89. @8 MB>A>15=, A >4=>9 AB>@>=K, A:>20BL @50:B82=CN I=>ABL =03@C7:8, 0 A 4@C3>9 AB>@>=K, A>740BL ?>B>: @50:B82=>9 I=>AB8 2 A5BL. "0:81@07>3> B>:0 A5B8 G5@57 4@>AA5;L L .
CAB@>9AB25 8A?>;L7C5BAO A2>9AB2> =548AA8?0B82=>AB8, B. 5. 8=B53@0; 25==>9 I=>AB8 0:B82=>3> D8;LB@0 70 ?5@8>4 >A=>2=>9 G0AB>BK @025= =C;N, GB> ?>72>;O5B 8A?>;L7>20BL =0 AB>@>=5 ?>AB>O==>3> B>:0 ?@5>1@07>20B5;O =0:>?8B5;L M=5@388 2 2845 :>=45=A0B>@0.
8A. 2 . @8=F8? C?@02;5=8O @53C;OB>@>M=5@388
@8=F8? C?@02;5=8O @53C;OB>@0, >A=>20= =0 D>@20=88 0:B82=K840;L=>3> =0?@O65=8O A ?>AB>O==>9 09 A428=CB>3> >B=>A8B5;L=> 2E>4=>3> =0?@O65=8O =0 =5:>B>@K9 C3>; ( . -B> ?>72>;O5B A>740BL =5>1E>48B>: 0:B82=>9 I=>AB8 87 A5B8 !. @8 MB>< 5A;8 0:B82=0O I=>ABL =03@C7:8 =5 @02=0 !, B> 8E @07=>ABL :>?8B5;L=>3> :>=45=A0B>@0 ?@5>1@07>20B5;O.
7; ( 2 7028A8AB8 >B =0?@O65=8O =0 =0:>?8B5;L=>=45=A0B>@5 6=> @53C;8@>20BL 0:B82=CN I=>ABL !. . #?8B5;L=>=45=A0B>@5 2K7K205B C25;8G5=85 C3;0, 0 C25;8G5=85 =0?@O65=85 C40@O MB>5 =0?@O65=85 >AB05BAO 2 7040==KE ?@545;0E.
> 2@5BK @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 =03@C7:0 ?8B05BAO AB018;878@>20==K< =0?@O65=85B@51;O5BAO A8=CA>840;L=K9 B>: ?@8 CA;>288 A8=CA>840;L=>AB8 2E>4=>3> =0?@O65=8O. -B> >15A?5G8205B D8;LB@0F8N 2KAH8E 30@=8: B>:0 =03@C7:8. A;8 D>@4=>3> =0?@O65=8O >B;8G=0 >B A8=CA>84K, B> MB> ?@82545B : ?>B@51;5=8N 87 A5B8 =5A8=CA>840;L=>3> B>:0. 4=0:> =03@C7:0 8 2 MB>- ?@56=520==K840;L=K< =0?@O65=852=KAB0B:0@0, :0: C65 1K;> C?> 2KH5, O2;ONBc O:
- KA>:0O I=>ABL ?@5>1@07>20B5;O 0:B82=>3> D8;LB@0, ?@52KH0NI0O I=>ABL =03@C7:8.
- 5 >ACI5AB2;O5BAO :>:, ?>B@51;O5<K9 87 A5B8, 8840;L=CN D>@288 A8=CA>840;L=>AB8 2E>4=>3> =0?@O65=8O. A;8 D>@4=>3> =0?@O65=8O >B;8G=0 >B A8=CA>84K, B> MB> ?@82545B : ?>B@51;5=8N 87 A5B8 =5A8=CA>840;L=>3> B>:0.
- E>4=>9 :>MDD8F85=B I=>AB8 @53C;OB>@0 @025= 548=8F5 B>;L:> ?@8 =>4=> 7=0G5=85 A=8605BAO, 879 E0@0:B5@ =0 5AB=>9 8;8 8=4C:B82=K9 ?@8 A=865=8OE 8;8 ?>2KH5=8OE 2E>4=>3> =0?@O65=8O.
#:070==K5 >1AB>OB5;LAB20 >3@0=8G820NB M:A?;C0B0F8>==K5 8 DC=:F8>=0;L=K5 2>76=>AB8 @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388.
MB>9 A2O78 >?@545;5=K 7040G8 40;L=59H53> 8AA;54>20=8O:
@07@01>B0BL =>2>5 AE5B5E=8G5A:>5 @5H5=85 ?>72>;ONI55 @0AH8@8BL DC=:F88 @53C;OB>@0 8 CAB@0=8BL 53> =54>AB0B:8;
@07@01>B0BL 48:C 8=65=5@=>3> ?@>5:B8@>20=8O A8;>2>9 G0AB8 @53C;OB>@0 A CG5B>2KE @5682 @01>BK;
@07@01>B0BL =>2K9 ?@8=F8?0 C?@02;5=8O 8 0;3>@8B=8@>20=8O 2 @07;8G=KE @568BK;
A>740BL <0B5<0B8G5A:85 45;8, =5>1E>485:B8@>20=8O C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388.
> 2B>@>9 3;025 4;O @0AH8@5=8O DC=:F89 @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 0 8: D8;LB@0F88 2KAH8E 30@=8: =0?@O65=8O A5B8, >15A?5G5=85 :>MDD8F85=B0 I=>AB8 @02=>3> 548=8F5, 0 B0:65 A=865=8O I=>AB8 A8;>2>9 G0AB8 @53C;OB>@0 8 C;CGH5=8O 53> 3010@8B=KE ?>:070B5;59 ?@54;>65=> 70AA5;L 2:;NG5==K9 <564C A5BLN 8 ?0@0;;5;L=K< 0:B82=KA;54>20B5;L=K9 0:B82=K9 D8;LB@ 8 ?@82K9 ?@8=F8? C?@02;5=8O. -B8 8772>;8;8 >15A?5G8BL 2KA>:>5 :0G5AB2> 2KE>4=>3> =0?@O65=8O =57028A8 >B D>@76=> ?>4:;NG5=85 =03@C7:8 G5@57 @53C;OB>@ =5?>A@54AB25==> : 2KE>4C 8=25@B>@0) A >4=>2@59 D8;LB@0F859 B>:>2 2KAH8E 30@=8: 8 :>9 I=>AB8 =03@C7:8.
0 @8A. 3 . ?>:070=0 M;5:B@8G5A:0O AE52>9 G0AB8 C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 ( # -) .
E M B E D A u t o C A D . D r a w i n g . 1 6
8A. 3 . -;5:B@8G5A:0O AE53> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388
>A;54>20B5;L=K9 ( $) ?>4:;NG05BAO 9 G5@57 A>3;0ACNI89 B@0=AD>@@ ". 3> 7040G59 O2;O5BAO :><?5=A0F8O 2KAH8E 30@=8: =0?@O65=8O A5B8 8 >B:;>=5=8O >A=>2=>9 30@=8:8 =0?@O65=8O A5B8 >B =>3> 7=0G5=8O. @8=F8? 459AB28O ?>A;54>20B5;L=>3> $ 70:;NG05BAO 2 D>@20=88 =0 2B>@8G=>9 >1B:5 A>3;0ACNI53> B@0=AD>@@0 ( 2:;NG5==>9 9) =0?@O65=8O @02=>3> >B:;>=5=8N =0?@O65=8O A5B8 >B =>3> 7=0G5=8O. A;8 A5B52>5 =0?@O65=85 3> ( @8A. 4 , 0) , B> =0?@O65=85, 35=5@8@C55 ?>A;54>20B5;L=K2?0405B ?> D075 A =0?@O65=85 A428=CB> >B=>A8B5;L=> =53> =0 1 8 0 . @8 8A:065=88 A5B52>3> =0?@O65=8O ( @8A. 4 , 1) =0 2B>@8G=>9 >1B:5 B@0=AD>@@0 A>7405BAO =0?@O65=85, @02=>5 AC<<5 2KAH8E 30@=8: =0?@O65=8O A5B8, => ?@>B82>?>;>6=>5 ?> D075. "0:81@07>445@68205BAO =0 =>2=5. $0:B8G5A:8, 8AE>4O 87 ?@8=F8?0 A2>53> 459AB28O, ?>A;54>20B5;L=K9 $ 2 ?@54;03059 AE5@>MB> ?>A;54>20B5;L=K@>< =0?@O65=8O ( ) .
0) 1)
8A. 4 . 803@0<BK # - ?@8 A:0G:0E, ?@>20;0E ( 0) 8 8A:065=88 ( 1) A5B52>3> =0?@O65=8O
0@0;;5;L=K9 $, B0: 65 :0: 8 2 ?@54K4CI5ACI5AB2;O5B D8;LB@0F8N B>:0 8 :>9 I=>AB8 =03@C7:8 70 AG5B 35=5@0F88 =50:B82=>3> ( 2KAH85 30@=8:8 ?;NA @50:B82=0O A>AB02;ONI0O) B>:0 2 ?@>B82>D075 A =50:B82=K:>40@O MB><C 2KAH85 30@=8:8 8 @50:B82=0O A>AB02;ONI0O B>:0 =03@C7:8 :>4:;NG5=8O D8;LB@0.
0@0;;5;L=K9 $ B0:65 ?>445@68205B =0 ?>AB>O==>2=5 =0?@O65=85 =0 =0:>?8B5;L=>=45=A0B>@5 !, B. :. 2 ?@>F5AA5 @01>BK ?>A;54>20B5;L=K9 >B40QB 8;8 ?>B@51;O5B 0:B82=CN I=>ABL 2 7028A8AB8 >B 25;8G8=K >B:;>=5=8O =0?@O65=8O A5B8 >B =>3> 7=0G5=8O. @57C;LB0B5 G53> B>: ?0@0;;5;L=>3> $ A>45@68B B0:65 =51>;LHCN 0:B82=CN A>AB02;ONICN 4;O AB018;870F88 =0?@O65=8O =0 =0:>?8B5;L=>=45=A0B>@5 C . >A:>;L:C ?0@0;;5;L=K9 $ =5 B>;L:> >15A?5G8205B D8;LB@0F8N 2KAH8E 30@=8: B>:0 =03@C7:8 ( :><?5=A0F8N I=>AB8 8A:065=89) , => 8 :><?5=A8@C5B @50:B82=CN I=>ABL =03@C7:8, ?>MB>< @50;87C5<KE 8 ?0@0;;5;L=K@>< I=>AB8 ( ) .
> 2@5BK # - =03@C7:0 ?8B05BAO AB018;878@>20==K< =0?@O65=85B@51;O5BAO A8=CA>840;L=K9 B>: @02=K9 AC<AB02;ONI8E B>:>2 =03@C7:8 8 ?0@0;;5;L=>3> .
E>4=>9 :>=B0:B>@ ?@54=07=0G5= 4;O >B:;NG5=8O C=825@A0;L=>3> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 >B A5B8 ?@8 2>7=8:=>25=88 ?5@53@C7>:, :>B>@K5 3CB 8<5BL ?@8 =5:><?5=A8@C5M=5@388 ( :>@>B:>5 70 AB>@>=K A5B8 8 4@. ) . @8 MB>@ >15A?5G8205B ?8B0=85 =03@C7:8 70 AG5B M=5@388 =0:>?8B5;L=>3> :>=45=A0B>@0 ?>A@54AB2>< 35=5@0F88 ?0@0;;5;L=K3> =0?@O65=8O =03@C7:8 02B>=><=K9 @568BK. >A;5 2>AAB0=>2;5=8O ?0@02 A5B8 2 7040==KE ?@545;0E :>=B0:B>@ >ACI5AB2;O5B ?>2B>@=>5 2:;NG5=85 2 A5BL. @5=>9 @01>BK 7028A8B >B 25;8G8=K 5AB8 =0:>?8B5;L=>3> :>=45=A0B>@0 8 =03@C7:8. @8 =0;8G88 8AB>G=8:0 M;5:B@>M=5@388, :>B>@K9 65B 1KBL ?>4:;NG5= : CAB@>9AB2C, 2@5=>9 @01>BK 65B 1KBL C25;8G5=> 8 >?@545;OBLAO ?>65;0=8O;L7>20B5;O. "0:>5 4>?>;=5=85 @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 ?@8405B 59AB20 8=B5@0:B82=>3> .
;O 0=0;870 M;5:B@>F5AA>2 1K; ?@8<5=5= 4 0=0;870 ?@5>1@07>20B5;59, 1078@CNI89AO =0 ?@8=F8?5 CA@54=5=8O ?5@5;030;>AL, GB> ?>B5@8 2 M;5<5=B0E AE5<K @02=K =C;N.
!E5<0 703> @53C;OB>@0 :0G5AB20 M;5:B@>M=5@388 4;O @0AG5B0 >A=>2=KE A>AB02;ONI8E ?@82545=0 =0 @8A. 5 .
E M B E D W o r d . P i c t u r e . 8
8A. 5 . !E5<0 70A=>2=KE A>AB02;ONI8E
;O =55 A?@0254;82K C@02=5=8O:
E M B E D E q u a t i o n . 3 , ( 1 )
E M B E D E q u a t i o n . 3 , ( 2 )
E M B E D E q u a t i o n . 3 ( 3 )
A CG5B>>B=>H5=85 ?>72>;8;8 ?@>25AB8 0=0;87 @01>BK AE5<K 2 @07;8G=KE @568BK. 0 @8A. 6 . ?@82545=K 25:B>@=K5 4803@0<3> ( 0) , ?>=865==>3> ( 1) 8 ?>2KH5==>3> ( 2) =0?@O65=8O A5B8, ?@8 0:B82=>- 8=4C:B82=>9 =03@C7:5 8 ?>AB>O==KE 7=0G5=8OE U =, I =, c o s ( =) .
E M B E D A u t o C A D . D r a w i n g . 1 6
8A. 6 . 5:B>@=K5 4803@0<=865==>2KH5==>< =0?@O65=88 A5B8
7 4803@0<, GB> ?@8 =>1@07>20B5;L ?0@0;;5;L=>3> 4;O :>3> B>:0 =03@C7:8 E M B E D E q u a t i o n . 3 4>;65= 35=5@8@>20BL =0?@O65=85 E M B E D E q u a t i o n . 3 r N
6
8
* , . 0 Z \ $ D F * , 0 2 $ & ÿø崯崯噒 h]c h h]c h]c h XJ h XJ h mH sH h h hy== >*hy== hl hQu hl hl hl h XJ hL= B*ph h XJ B*ph hi| hL= h XJ hQu hQu 5; hQu 5hQu h. 6 . 0 2 j l n p r N P R T V H
$dh a$gdQu $7dh `7a$gdQu 7dh `7gdQu <
T V X
$dh $If a$gdL=
$dh a$gdL=
$dh a$gdQu
8
j
* , . $dh $If a$gdL= S kd $$If l 0 % ` &
t 6 4 4
l a . 0 \ H = =
$dh a$gdL= S kd$ $$If l 0 % ` &
t 6 4 4
l a $dh $If a$gdL= S kd $$If l 0 % ` &
t 6 4 4
l a 6 2 $ & ^ ` b @ @ v z N ~ * B D v | ~ d & & ^& `& ' ) ) ) r/ t/ P0 @1 B1 \1 ^1 1 D2 2 2 2 3 3 <4 5
5 5 Žٵ٭٩٭ hrN hv hBL h2a hc^ hxz hxz 5hG h. hy h h<O h! i hxz hxz hxz hxz ht# hxz ht# 5 ht# 5ht# h XJ h]c ?t $ ) + t/ B1 5 5 7 8 H: ; < ? ^A z $
77d@ `7a$gd. $
& F
S d@ a$gd. $
& F
sSSd@ ^S`a$gd. $
& F
s S Sd@ ^S`a$gd. $
d@ ` a$gd. $
7d@ `7a$gd. 5 5 5 ; ; ; < < < B< D< L< Z< ? ? T? \A ^A A A A A A vC xC C C D D `E bE dE E H H H H H J J J K K L 2L tL Ҿڧx "hY hxz 5CJ OJ QJ aJ h hqp 5CJ OJ QJ aJ hxz hxz 5CJ OJ QJ aJ hxz hxz CJ OJ QJ aJ hxz hK \ hxz \ hi| \hxz hxz 5\ hxz hxz \hxz hxz 5h( mH sH h( h( h( hW hxz hxz -^A A vC C D bE dE H J L M w $ 7d@ ] ^ `7a$gdY $ 7d@ ]^ `7a$gdY $7d@ `7a$gd. $
S7d@ ^7a$gdK $
& F
SSd@ ^S`a$gd. $
d@ ` a$gd.
tL vL L L L @M BM M M rO tO vO O O O P P P P FQ RQ TQ ,T VU XU *hj h, 5>* hPe| hPe| hPe| hPe| 5hj hPe| 5>* h, 5hW ht# hY hxz CJ OJ QJ aJ h hY 5CJ OJ QJ aJ h "hY hY 5CJ OJ QJ aJ h "hY hA/ 5CJ OJ QJ aJ h "hY hxz 5CJ OJ QJ aJ h "hY hW 5CJ OJ QJ aJ hM rO vO O P @W [ _ _ ` ` e @i @k Dk k $d@ ]a$gd. $ d@ ]^ ` a$gd. $7d@ ]`7a$gd. $7d@ `7a$gd.
$d@ a$gd. $7d@ `7a$gd. $ 7d@ ]^ `7a$gdY Y Z Z Z [ [ "] *] T] ^ _ _ _ _ ` ` ` ` ` ` ` ` `a ba da i i 8i :i @k Bk k k 8m :m *CJ aJ h'"h h h aJ h h CJ aJ h h K h h h mH sH h h K h hL= 6H* hL= 6H*nHtH hL= 6 hL= \] hL= 56 j jhL= 6\ h P v , j ʝ ڞ ܞ ޞ ( 4 H D F H J V X ʤ ̤
j l ¥ " $ ʿyl j]" h6 h6 EHUjI
h6 h6 UVhIr* jt h6 h. U jI
hPt CJ UVaJ h6 h6 j h6 h6 UhIr* CJ aJ h6 h6 CJ aJ hPt h6 hPt hG aJ hPt hQ PJ nHtH hG hG PJ nHtH hG hG hQ *~ ( L ʤ ̤
¥ | ҧ r 7d@ `7gd.
7d@ `7gd. 7d@ 7$ 8$ ^ `7gd. $7d@ `7a$gd. $ 7d@ 7$ 8$ ^ `7a$gd. $7d@ `7a$gd. 7d@ ^ `7gd. $ D F H J t | ܦ ަ h ȧ ʧ ̧ Χ ҧ 2 4 T V X Z j l n z | ~ ~vlvav j wh6 h6 6h6 h6 6H* h6 h6 6jr, h6 h6 EHUjQI
h6 h6 UVj* h6 h6 EHUjlI
h6 h6 UVjp' h6 h6 EHUj&I
h6 h6 UVhIr* j h6 h6 Uj$ h6 h6 EHUjmI
h6 h6 UV h6 h6 %
H J Z \ ª
( * P R T V ʸޓޢzmޢ j[ hIr* hIr* EHUj͗lI
hIr* hIr* UVjd/ hIr* hb U jzI
hIr* CJ UVaJ j hIr* hIr* UhIr* hIr* CJ aJ hIr* hIr* 6hIr* hIr* 6H* hIr* hIr* 6mH sH hL hb hIr* hIr* h{ CJ aJ h{ hb hIr* h6 CJ aJ ( l l " x . H X x
d@ `
gd. 7d@ 7$ 8$ ^ `7gd. $
d@ `
a$gd. $d@ a$gd. $
d@ `
a$gd. $7d@ `7a$gd. $7d@ `7a$gd. $7d@ `7a$gd. ĭ . 0 V X Z \ , . 0 2 l µЧЌrn` jlI
hIr* hIr* UVhb jf hIr* hIr* EHUjjd hIr* hIr* EHUjzlI
hIr* hIr* UVjsb hIr* hIr* EHUjlI
hIr* hIr* UVjj` hIr* hIr* EHUjlI
hIr* hIr* UV hIr* hIr* Uj hIr* hIr* Uj!^ hIr* hIr* EHUj` I
hIr* hIr* UV !, A>2?040NI55 ?> D075 A =0?@O65=85 0AE>4OI55 53> =0 25;8G8=C E M B E D E q u a t i o n . 3 , =5>1E>48740=8O B>:0 4@>AA5;O E M B E D E q u a t i o n . 3 @02=>3> ?> 0:C =03@C7:8 E M B E D E q u a t i o n . 3 . =0G5=85 E M B E D E q u a t i o n . 3 6=> 2KG8A;8BL ?> D>@;CG05BAO, GB> B>: 4@>AA5;O E M B E D E q u a t i o n . 3 @025= @50:B82=>:C =03@C7:8, => ?@>B82>?>;>65= 5 D075, 0 B>: A5B8 A>45@68B B>;L:> 0:B82=CN A>AB02;ONICN B>:0 =03@C7:8 E M B E D E q u a t i o n . 3 .
@8 A:0G:0E 8;8 ?@>20;0E A5B52>3> =0?@O65=8O ?>A;54>20B5;L=K9 35=5@8@C5B @07=8FC <564C 459AB28B5;L=K< 7=0G5=85<8=0;L=K=865==>B82>D075 ( ?@8 ?>2KH5==><) A =0?@O65=85< A5B8, B5< A0<KA;54>20B5;L=K9 >B405B 8;8 ?>B@51;O5B 0:B82=CN I=>ABL, GB> 2K7K205B A?04 8;8 @>AB =0?@O65=8O =0 =0:>?8B5;L=>=45=A0B>@5. >MB>: ?0@0;;5;L=>3> ( 4@>AA5;O) :@>9 E M B E D E q u a t i o n . 3 , =0?@02;5==>9 =0 :>3> B>:0 =03@C7:8, A>45@68B B0:65 0:B82=CN A>AB02;ONICN E M B E D E q u a t i o n . 3 4;O AB018;870F88 =0?@O65=8O =0 =0:>?8B5;L=>=45=A0B>@5. A;54AB285 G53>, ?@8 ?>=865==>1@07>20B5;O ?0@0;;5;L=>3> >BAB05B >B =0?@O65=8O =03@C7:8, A>2?040NI53> ?> D075 A =0?@O65=85: A5B8 ?@52KH05B 0:B82=K9 B>: =03@C7:8 =0 25;8G8=C E M B E D E q u a t i o n . 3 . @8 ?>=865==>1>@>B =0?@O65=85 ?@5>1@07>20B5;O >?5@5605B, 0 B>: A5B8 AB0=>28BAO 3> B>:0 =03@C7:8 =0 25;8G8=C E M B E D E q u a t i o n . 3 .
:B82=0O I=>ABL >B40205B@51;O5A;54>20B5;L=KA. 4;O AB018;870F88 =0?@O65=8O =03@C7:8 @02=O5BAO 0:B82=>9 I=>AB8 ?0@0;;5;L=>3> P ?0@. 4;O ?>445@60=8O =0?@O65=8O =0 =0:>?8B5;L=>=45=A0B>@5 =0 =>2=5
P ?>A. = P ?0@. . ( 6 )
50:B82=0O I=>ABL ?0@0;;5;L=>3> Q ?0@. @02=0 @50:B82
32
3d
-
8800 gold edition
locus
asko
21102
pki
hi-fi
5003.17 ()
dimplex model amesbury
.
2114
-
online
tomb raider
-134 .-
fifa 2006
-
asko
certification microsoft
478
ielts
contiwinterviking
soflens comfort
intex
sky link
wow
master
soflens comfort
-
rlc
dunlup 205 55 r16
dunlup 205 55 r16
32