Issue 18 - February 1 2007

UIF OFXTQBQFS

6 PG 5 T *OEFQFOEFOU 8FFLMZ TJODF

'FCSVBSZ 7PM 99*9 /P

/P " %BZ PG "DUJWJTN 5IBU JT /PU "DUJWJTN i5IJT JT QBSU PG XIBU T XSPOH XJUI ZPV ZPV EP UPP NVDI TJOHJOH 5PEBZ JU T UJNF UP TUPQ TJOHJOH BOE TUBSU TXJOHJOH :PV DBO U TJOH VQ PO GSFFEPN CVU ZPV DBO TXJOH VQ PO TPNF GSFFEPN u .BMDPMN 9

#: FNJMZ TIFMUPO TQFDJBM UP UIF OFXTQBQFS

#: OPBNBO BMJ TQFDJBM UP UIF OFXTQBQFS 0O 'FCSVBSZ UI TUVEFOUT GSPN VOJWFSTJUJFT BOE DPMMFHFT BDSPTT $BOBEB XJMM QBSUJDJQBUF JO B /BUJPOBM %BZ PG "DUJPO UP SFEVDF UVJUJPO GFFT *O FWFSZ QSPWJODF TUVEFOUT XJMM CF EFNPOTUSBUJOH JO GSPOU PG UIFJS SFTQFDUJWF MFHJTMBUVSFT DBMMJOH GPS NPSF GVOEJOH GPS QPTU TFDPOEBSZ FEVDBUJPO HSBOUT JOTUFBE PG MPBOT BOE BO JNNFEJBUF UVJUJPO GFF GSFF[F

8F UIF TUVEFOUT BU UIF 6OJWFSTJUZ PG 5PSPOUP XJMM IPTU UIF MBSHFTU SBMMZ JO 0OUBSJP 4UVEFOUT GSPN DBNQVTFT BDSPTT UIF QSPWJODF XJMM CF CVTTJOH HSFBU EJTUBODFT UP KPJO VT BT XFMM BT TUVEFOUT GSPN :PSL 3ZFSTPO (FPSHF #SPXO BOE 0$"% JO GSPOU PG $POWPDBUJPO )BMM BU ". 5PHFUIFS XF XJMM CF NBSDIJOH BDSPTT UIF DBNQVT BOE DPOWFSHF BU 2VFFO T 1BSL UP TUBUF PVS EFNBOET BOE EFNPOTUSBUF PVS QBTTJPO GPS HPPE RVBMJUZ BDDFTTJCMF QPTU TFDPOEBSZ FEVDBUJPO

0O 'FCSVBSZ UI TUVEFOUT BU UIF 6OJWFSTJUZ PG 5PSPOUP NVTU MFBE UIF DIBSHF PO UIF CFIBMG PG TUVEFOUT BDSPTT UIJT QSPWJODF UP XJO UIF SJHIU UP BO FEVDBUJPO UIBU EPFTO U MFBWF ZPVOH HSBEVBUFT TBEEMFE XJUI EFCU

(FUUJOH UIF XPSE PVU PO DBNQVT BCPVU UIF SBMMZ PO 'FC UI IBT CFFO B HSFBU FYQFSJFODF 5IF WBTU NBKPSJUZ PG QFPQMF * IBWF TQPLFO UP CFMJFWF UIBU UIF UVJUJPO GFF IJLFT NVTU TUPQ CFDBVTF UIFZ XJMM JOIJCJU BDDFTT UP QPTU TFDPOEBSZ FEVDBUJPO 4LZSPDLFUJOH UVJUJPO GFFT XJMM OFHBUJWFMZ JNQBDU UIF RVBMJUZ PG MJGF PG FWFSZ TJOHMF TUVEFOU IFSF BU 6 PG 5

5IF BWFSBHF BNPVOU PG EFCU UIBU TUVEFOUT DBO FYQFDU VQPO HSBEVBUJPO JT 8JUI UIF .D(VJOUZ HPWFSONFOU T DBODFMMBUJPO PG UIF UVJUJPO GFF GSFF[F UIBU EFCU JT FYQFDUFE UP QVTI .FBOXIJMF BWFSBHF JODPNFT BOE QFSTPOBM TBWJOHT BSF PO UIF EFDMJOF 8IJMF BDDFTT UP QPTU TFDPOEBSZ FEVDBUJPO JT JNQPSUBOU GPS BMM 0OUBSJBOT UIF àHIU GPS BDDFTT JT B DIBSHF UIBU NVTU CF MFE CZ TUVEFOUT

" RVFTUJPO UIBU TPNFUJNFT

* IBWF TFSJPVT SFTFSWBUJPOT XJUI UIF FOUJSF JEFB PG 'FCSVBSZ CFJOH B TJOHVMBS EBZ PG BDUJPO UP SFEVDF UVJUJPO GFFT #FGPSF * CFHJO XJUI UIF XJEFS DSJUJDJTNT MFU NF FYQMBJO UIBU * XJMM CF QBSUJDJQBUJOH JO NBOZ PG UIF FWFOUT * CFMJFWF JU JT WJUBMMZ JNQPSUBOU UP FYQSFTT EJTTBUJTGBDUJPO BCPVU UVJUJPO * BMTP BQQSFDJBUF UIF XPSL CFJOH EPOF CZ FWFSZPOF JOWPMWFE JODMVEJOH NBOZ CPOB àEF BDUJWJTUT *U UBLFT B HSFBU EFBM PG FGGPSU UP PSHBOJ[F BOE DPPSEJOBUF FWFOUT MJLF UIJT )PXFWFS UIFSF BSF QSPCMFNT UIBU XF OFFE UP BEESFTT

-FU NF TUBSU PGG CZ GPDVTJOH PO B QBSUJDVMBS BTQFDU PG UIJT DBNQBJHO 5IBU JT UIF DPODFQU PG BDUJWJTN QSPNPUFE CZ UIF PSHBOJ[FST BU UIF 6OJWFSTJUZ PG 5PSPOUP PO UIF XFC TJUF IUUQ XXX GFC DB BDUJWJTU IUNM *U JOWJUFT TUVEFOUT UP iCF BO BDUJWJTU u BOE JOEFFE JO UIJT EBZ BOE BHF XIP XPVME OPU XBOU UP CF BO BDUJWJTU

#VU BDUJWJTN JT /05 BCPVU HFUUJOH SFXBSET $IBOHJOH ZPVS 'BDFCPPL EJTQMBZ QJDUVSF JT /05 +",& ,&"5*/( BSJTFT XIFO * UFMM TUVEFOUT BCPVU UIF SBMMZ JT iXJMM UIJT SFBMMZ XPSL u 1FPQMF BSF TLFQUJDBM UIBU TUVEFOUT DBO SFBMMZ GPSDF UIF .D(VJOUZ -JCFSBMT UP DIBSU B OFX DPVSTF XJUI UIFJS FEVDBUJPO QPMJDZ 4UVEFOUT BSF CVTZ XJUI FYBNT FTTBZT BOE XPSLJOH UIPTF MPX XBHFE QBSU UJNF KPCT UP QBZ UVJUJPO 6OEFSTUBOEBCMZ XF XBOU UP VTF PVS UJNF FGGFDUJWFMZ

-VDLJMZ UIJT àHIU JT POF XPSUI MFOEJOH ZPVS WPJDF UP CFDBVTF JU JT XJOOBCMF *O GBDU TUVEFOUT BDSPTT 0OUBSJP BOE $BOBEB BSF SFBMMZ FYDJUFE CFDBVTF XF BSF FNCBSLJOH PO B DBNQBJHO UIBU XJMM NBLF B SFBM EJGGFSFODF 4UVEFOUT IBWF BMXBZT CFFO BU UIF GPSFGSPOU PG QPTJUJWF TPDJBM DIBOHF "OE XF XJO XIFO XF IBWF DPNNVOJUZ TVQQPSU

&JHIUZ TFWFO QFSDFOU PG 0OUBSJP WPUFST BSF DPODFSOFE UIBU UVJUJPO GFF IJLFT DPNQSPNJTF BDDFTT /FBSMZ PVU PG FWFSZ WPUFST UIJOL UIF DBODFMMBUJPO PG UIF UVJUJPO

GFF GSFF[F BNPVOUT UP B CSPLFO QSPNJTF "OE UIF MJTU PG DPNNVOJUZ FOEPSTFNFOUT GSPN BDSPTT 0OUBSJP DPOUJOVFT UP HSPX 8JUI UIF VOQSFDFEFOUFE DPNNVOJUZ TVQQPSU XF IBWF GPS TUPQQJOH .D(VJOUZ T UVJUJPO GFF IJLFT XF DBO XJO

8F LOPX BMM UPP XFMM UIBU XF BSF XPSLJOH GPS BO JNQPSUBOU DBVTF "DDPSEJOH UP UIF $BOBEJBO 'FEFSBUJPO PG 4UVEFOUT $'4

iUIJT GBMM JODSFBTFT UP UVJUJPO GFFT KVNQFE UP BMNPTU EPVCMF MBTU ZFBS T SBUF PG JODSFBTF 5IF .D(VJOUZ HPWFSONFOU T EFDJTJPO UP DBODFM UIF UVJUJPO GFF GSFF[F JO 0OUBSJP IBT SFTVMUFE JO 0OUBSJP TUVEFOUT UVJUJPO GFFT TQJLJOH CZ UIJT ZFBS BMPOF .PTU DPMMFHF TUVEFOUT BSF FYQFSJFODJOH JODSFBTFT UP UIFJS GFFT CZ BOE HSBEVBUF BOE QSPGFTTJPOBM TUVEFOUT BSF GBDJOH JODSFBTFT PG VQ UP BCPWF MBTU ZFBS T GFFT u

5IF $'4 GVSUIFS TVHHFTUT TFF "$5*7*4. QBHF

BDUJWJTN *OWJUJOH TFWFO GSJFOET UP B XFC TJUF JT OPU BDUJWJTN $BMM JU TPNFUIJOH FMTF CVU EPO U DBMM JU BDUJWJTN "OE QMFBTF EPO U QSFUFOE JU T iBMM PVU u "DUJWJTN JT OPU B CSBOE OBNF JO B DFSUBJO CSBOE GPOU JO DFSUBJO CSBOE DPMPVST PO B UPRVF PS B U TIJSU "DUJWJTN JT OPU BCPVU UIF CPNCBTU BOE TIBNFMFTT TFMG QSPNPUJPO PG UIF $BOBEJBO 'FEFSBUJPO PG 4UVEFOUT "DUJWJTN JT OPU BCPVU NBTT QSPEVDFE TJHOT QSJOUFE XJUI WFHFUBCMF PJM JOL PO QPTU DPOTVNFS SFDZDMFE QBQFSCPBSE

"DUJWJTN JOWPMWFT B DSJUJDBM BXBSFOFTT *U SFRVJSFT B TQFDJàD DSJUJDBM SFáFDUJWF DPOTDJPVTOFTT *U SFRVJSFT BDUJPO BOE DIBMMFOHJOH BVUIPSJUZ *U SFRVJSFT QSBYJT *U SFRVJSFT JOUFMMFDUVBM BOE QSBDUJDBM SJHPS

"DUJWJTN JT OPU CVZJOH B QSPEVDU "DUJWJTN JT OPU QVUUJOH

" 'FX #BE .BO #: TUFWFO CPSPXJFD 1PXFS DPSSVQUT BOE BCTPMVUF QPXFS DPSSVQUT BCTPMVUFMZ -JLF NPTU PME BEBHFT UIF VTFGVMOFTT PG UIJT TUBUF NFOU JT MJNJUFE XIFO BOBMZ[JOH DPNQMFY TJUVBUJPOT *U EPFT IPXFWFS IPME B DFSUBJO TUFBEGBTU USVUI %JDUB UPST IBWF TIPXO UIBU UIF QPXFS UP DPOUSPM NJMMJPOT PG QFPQMF BOE BO FOUJSF DPVOUSZ JT UPP NVDI GPS POF QFSTPO UP IBOEMF XIJMF SFUBJOJOH UIFJS TBOJUZ 5ISPVHIPVU IJTUPSZ UIFSF IBT CFFO OP MBDL PG NFO EJD UBUPST BSF BMXBZT NFO XIP IBWF USJFE UP DPODFOUSBUF BMM UIF QPXFS XJUIJO UIFNTFMWFT BOE UIFJS UJHIUMZ LOJU DJSDMF

5IF DPODFQU PG QPXFS SFTU JOH FOUJSFMZ JO UIF IBOET PG POF NBO IBT OFWFS DBSSJFE NPSF PG B OFHBUJWF DPOOPUBUJPO UIBO JU EPFT UPEBZ *O

).3)$%

UIF QSFTFOU FSB PG XJEFTQSFBE EF NPDSBDZ EFTQPUJD SVMF JT NPSF PVU PG TUZMF UIBO FWFS 5IF GBMM PG $PN NVOJTN BOE UIF FOE PG UIF $PME 8BS XFSF TVQQPTFE UP VTIFS JO BO FSB GSFF GSPN UPUBMJUBSJBO SVMF .PSF UIBO àGUFFO ZFBST BGUFS 'SBODJT 'V LVZBNB GBNPVTMZ EFDMBSFE MJCFSBM EFNPDSBDZ IVNBOLJOE T MBTU GPSN PG QPMJUJDBM PSHBOJ[BUJPO JO IJT FTTBZ i5IF &OE PG )JTUPSZu NPTU QFPQMF XPVME QSPCBCMZ CF QSFUUZ TVSQSJTFE UP TQJO UIF HMPCF BOE TFF IPX NBOZ DPVOUSJFT DBO TUJMM SFBTPOBCMZ CF DPOTJEFSFE EJDUBUPSTIJQT

%FàOJOH XIP JT BOE XIP JT OPU B EJDUBUPS JT JO OP XBZ BO FYBDU UBTL 5IFSF BSF IPXFWFS TPNF CBTJD DSJUFSJB UIBU DBO CF HBVHFE UP EFDJEF XIBU NBLFT B EJDUBUPS 1BTU PS QSFT

FOU BMM EJDUBUPST IBWF DFSUBJO UIJOHT JO DPNNPO BOE UIFZ BMM TFFN UP SVMF XJUI B TJNJMBS GPSNVMB

'JSTU PGG UIF QSJNBSZ HPBM JO BOZ BDUJPO PS EFDJTJPO JT BMXBZT UIF NBJOUFOBODF PG UIFJS QPXFS %JDUBUPST EFWFMPQ BO JSSBUJPOBM TJOHMF NJOEFE PCTFTTJPO XJUI QPXFS "OZPOF XIP UISFBUFOT PS VOEFSNJOFT UIFJS SVMF JT EJTQPTFE PG PS EJTDJQMJOFE JO B XBZ UIBU NBLFT JU DMFBS XIP JT JO DIBSHF

3VTTJBO EJDUBUPS +PTFQI 4UBMJO JMMVTUSBUFE UIJT QSJODJQMF CZ MFBEJOH B DBNQBJHO LOPXO BT UIF (SFBU 1VSHF UISPVHIPVU UIF T JO UIF GPSNFS 4PWJFU 6OJPO 5IF NPWFNFOU T HPBM XBT UP WBORVJTI QPMJUJDBM EJTTJEFOUT BOE BOZPOF TFFO BT B UISFBU UP IJT SVMF VOEFS UIF TFF #"% QBHF

NPOFZ JO B CPY "DUJWJTN JT DFSUBJOMZ OPU TVQFSJNQPTJOH B XFC TJUF BEESFTT PO B QJDUVSF PG (FPSHF $MPPOFZ PS 1BSJT )JMUPO UP QVU JO ZPVS POMJOF QSPàMF

* TBZ UIJT OPU CFDBVTF * DPOTJEFS NZTFMG UP CF BO BDUJWJTU /PS EP * CFMJFWF UIF MBCFM PG BO BDUJWJTU CFMPOHT UP TFMFDU QFPQMF XIP àHIU GPS TFMFDU DBVTFT * TBZ JU

CFDBVTF BDUJWJTN JT UPP TJHOJàDBOU B QPTJUJPO m GPS XIBUFWFS QVSQPTF UIBU JU JT JOUFOEFE m UP CF SFEVDFE UP TVDI JOBOJUZ "OE UIJT JT XIBU UIFTF LJOET PG TUBUFNFOUT BSF 5IFZ BSF JOBOF

5IJT JT XIBU UIJT DBNQBJHO JT TPSFMZ NJTTJOH m B DSJUJDBM TFMG SFáFYJWFOFTT BOE B SFáFDUJPO PO UIF CSPBEFS TPDJBM DPOUFYU * VOEFSTUBOE TFF /05 QBHF

5IF 8PSME 3FMJHJPOT $POGFSFODF #: GSJFEB BVESFZ MVL

BVTQJDF PG QSPUFDUJOH UIF QPQVMB UJPO GSPN iDPVOUFS SFWPMVUJPOBSJFTu BOE iFOFNJFT PG UIF QFPQMFu 5IF WJMJàDBUJPO PG BOZ DIBMMFOHFST BOE DSJNJOBMJ[BUJPO PG EJTTFOU BSF QBSUT PG UIF CBDL CPOF PG BVUIPSJUBSJBO SVMF

5IF DPVOUSJFT SVO CZ EJDUB UPST BSF NPTU PGUFO QPPS BOE VOTUB CMF JEFBM DJSDVNTUBODFT GPS QPXFS UP CF TOBUDIFE VQ CZ TPNFPOF XJUI HPPE UJNJOH BOE UIF SJHIU NJY PG BN CJUJPO BOE DBMMPVTOFTT 5IF TFDPOE CBTJD QSJODJQMF GPMMPXFE CZ EJDUBUPST JT UP GPSDF UIF QPQVMBUJPO UP MJWF VO EFS VODPNGPSUBCMF DJSDVNTUBODFT XJUIPVU FOPVHI GPPE XBUFS PS BD DFTT UP LOPXMFEHF PS FEVDBUJPO

*HOPSBOU FYIBVTUFE QFPQMF BSF BMXBZT FBTJFS UP DPOUSPM *U JT

,FWJOF %FWJOF QMBZT -FF T 1BMBDF QBHF

4P MFU VT HJWF JU VQ GPS BOPUIFS BU UFNQU BU NBLJOH SFMJHJPO MFTT GSJHIU FOJOH BOE NPSF VTFS GSJFOEMZ

5IF 8PSME 3FMJHJPOT $PO GFSFODF B SBUIFS HSBOEJPTF UJUMF UIBU PCMJHFT BO JOUSP PG HPMEFO USVNQFUT DIFSVCT BOE NPSBM TVQFSJPSJUZ XBT IFME PO +BO UI XJUI QBSUJDJQBOUT SFQSFTFOUJOH )JOEVJTN +VEBJTN *TMBN BOE $ISJTUJBOJUZ

5IPVHI UIF FWFOU PSHB OJ[FE CZ UIF "INBEJZZB .VTMJN 4UVEFOUT "TTPDJBUJPO XBT CSJN NJOH XJUI HPPE JOUFOUJPOT JU XBT OPU FOPVHI UP TPMWF UIF QSPCMFN PG VOEFSXIFMNJOH BUUFOEBODF 5IF MFDUVSF IBMM XBT PDDVQJFE NPTUMZ JU TFFNFE XJUI NFNCFST PG UIF PSHB OJ[JOH DPNNJUUFF

"O PCWJPVT EJTBQQPJOUNFOU

UP BUUFOEBOUT FBHFSMZ BOUJDJQBUJOH NFTTBHFT GSPN UIF ;PSPBTUSJBOT BOE #VEEIJTUT UIF 8PSME 3FMJHJPOT $POGFSFODF NBEF VQ GPS UIF EJWFS TJUZ TIPSUGBMM XJUI BO JO EFQUI EJTDVT TJPOT PO UIF UIFNF PG SFDPODJMJOH GBJUI BOE MPZBMUZ UP UIF OBUJPO

5IF GPSNBU XBT TUSBJHIUGPS XBSE XJUI B QSFTFOUBUJPO GSPN FBDI GBJUI GPMMPXFE CZ B RVFTUJPO BOE BOTXFS QFSJPE

.VDI PG UIF UXP IPVS TFT TJPO GFMU MJLF MJTUFOJOH UP B QVCMJD SFMBUJPOT FYFSDJTF JO EBNBHF DPO USPM MJLFMZ B SFTQPOTF UP NBJOTUSFBN NFEJB T GFBS NPOHFSJOH UBDUJDT PO SFMJHJPVT JTTVFT %VSJOH UIF DPVSTF PG UIF QSFTFOUBUJPOT JU CFDBNF BQ QBSFOU UIBU UIF DPOGFSFODF XBT MFTT PG BO JOTUSVDUJPOBM MFDUVSF UIBO B TFF 3&-*(*0/4 QBHF

.BHOB %PPEMF QBHF

/&84

฀

฀ ฀

"$5*7*4. DPOUJOVFE GSPN QBHF iUIFTF JODSFBTFT BSF PO UPQ PG UIF BMSFBEZ IJHI GFFT GPS TPNF PG UIF NPTU FYQFOTJWF QSPHSBNNFT JO UIF DPVOUSZ PG UIF NPTU FYQFOTJWF QSPGFTTJPOBM QSPHSBNNF UVJUJPO GFFT JO $BOBEB BSF DIBSHFE BU 0OUBSJP VOJWFSTJUJFT 4UVEFOUT TUVEZJOH MBX BU UIF 6OJWFSTJUZ PG 5PSPOUP GPS FYBNQMF BSF QBZJOH PWFS FBDI JO UVJUJPO GFFT UIJT ZFBS XIJMF MBX TUVEFOUT BU .D(JMM 6OJWFSTJUZ JO 2VÊCFD QBZ VOEFS EFTQJUF UIF GBDU UIBU CPUI QSPHSBNNFT BSF DPNQBSBCMF JO RVBMJUZ u

"T QSFWJPVTMZ NFOUJPOFE TUVEFOUT JO 0OUBSJP XJMM HSBEVBUF XJUI PO BWFSBHF JO EFCU 5IJT LJOE PG EFCU XJMM DBVTF OFX HSBEVBUFT FOUFSJOH UIF XPSLGPSDF UP EFMBZ QVSDIBTJOH B IPNF BOE TUBSUJOH B GBNJMZ GPS NBOZ ZFBST

'VSUIFSNPSF UIJT EFCU XJMM MJNJU TUVEFOUT DIPJDFT 1FPQMF XJMM OP MPOHFS UP CF BCMF UP BGGPSE UP QVSTVF UIF DBSFFS QBUIT UIBU MFE UIFN UP DPMMFHF BOE VOJWFSTJUZ JO UIF àSTU QMBDF 'PS FYBNQMF B MBX TDIPPM HSBEVBUF NBZ CF QBTTJPOBUF BCPVU EFEJDBUJOH IFS FOFSHZ UPXBSET JNQSPWJOH UIF MFHBM BJE TZTUFN CVU IFS EFCU MPBE XJMM GPSDF IFS UP QVSTVF B IJHIFS QBZJOH DBSFFS BT B DPSQPSBUF MBXZFS

'PS PUIFST UVJUJPO GFFT XJMM DMJNC TP IJHI UIBU QPTU TFDPOEBSZ FEVDBUJPO XJMM OP MPOHFS CF BWBJMBCMF UP UIFN 3FTFBSDIFST BU 6$-" GPVOE UIBU GPS FWFSZ JODSFBTF JO UVJUJPO GFFT UIFSF XBT B ESPQ JO FOSPMNFOU DPNJOH BMNPTU FYDMVTJWFMZ GSPN NJOPSJUZ BOE MPX JODPNF TUVEFOUT 5IF UISFBU PG NPSUHBHJOH PVS GVUVSFT JT SFBM

/PUIJOH JT NPSF JNQPSUBOU UP UIF TVDDFTT PG UIF 'FC DBNQBJHO UP GSFF[F BOE SFEVDF UVJUJPO GFFT UIBO CVJMEJOH B DPNNVOJUZ PG MJLF

NJOEFE TUVEFOUT BU 6 PG 5 8F LOPX UIBU UPHFUIFS XF DBO BDIJFWF NVDI NPSF UIBO XIBU XF DPVME JG XF XPSLFE PO PVS PXO " SJHIUFPVT DBVTF OP NBUUFS IPX USVF BOE IPX KVTU JT TJNQMZ OPU FOPVHI 8F OFFE TUSFOHUI JO OVNCFST BOE XF IBWF BDIJFWFE UIJT

5IF 6OJWFSTJUZ PG 5PSPOUP 4UVEFOUT 6OJPO JT XPSLJOH XJUI UIF (SBEVBUF 4UVEFOUT 6OJPO BOE $61& UIF 5 " BOE TFTTJPOBM XPSLFST VOJPO UP VOJGZ BMM UIF EJGGFSFOU DPMMFHFT GBDVMUJFT BOE DBNQVT DMVCT TP UIBU XF DBO XPSL UPHFUIFS BOE DPMMFDUJWFMZ BDIJFWF PVS HPBMT 5IF NPWFNFOU PO DBNQVT UP SFEVDF UVJUJPO GFFT JODMVEFT PWFS UIJSUZ DPBMJUJPO QBSUOFST

8F BSF EFEJDBUFE UP XJOOJOH B UVJUJPO GFF GSFF[F BOE SFEVDUJPO 'FCSVBSZ UI XJMM POMZ CF UIF CFHJOOJOH PG B TUSPOH DPNNVOJUZ PG TUVEFOUT BU UIF 6OJWFSTJUZ PG 5PSPOUP XIP DBO TUBOE UPHFUIFS JO TPMJEBSJUZ UP BEWPDBUF GPS PVS SJHIUT BT TUVEFOUT

* VSHF ZPV UP KPJO VT PO 'FCSVBSZ UI BU ". JO GSPOU PG $POWPDBUJPO )BMM UP EFNBOE UIBU UIF .D(VJOUZ -JCFSBMT SFJOTUBUF UIF UVJUJPO GFF GSFF[F BOE SF JOWFTU JO QPTU TFDPOEBSZ FEVDBUJPO 5PHFUIFS XF DBO NBLF DIBOHF #VU XF XJMM POMZ XJO XIFO XF DPNF UPHFUIFS BT B DPNNVOJUZ XJUI UIF SFDPHOJUJPO UIBU XF IBWF B SFTQPOTJCJMJUZ UP PVSTFMWFT BOE PVS QFFST UP QSPEVDF UIF NBTTJWF OVNCFST PG QSPUFTUFST UIBU BSF OFFEFE UP NBLF JU QPMJUJDBMMZ JNQPTTJCMF GPS .D(VJOUZ UP JHOPSF PVS EFNBOET &NJMZ 4IFMUPO JT UIF 7JDF 1SFTJEFOU &YUFSOBM PG 6OJWFSTJUZ PG 5PSPOUP 4UVEFOUT 6OJPO 6 5 4 6

.PEFSOJUZ B MË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

8JUI B EJTUVSCJOH TFSJPVT OFTT DPVODJMPS "OESÊ %SPVJO UPME NFEJB UIBU JU XBT OPU DPODPSEBOU XJUI 2VFCFDPJT WBMVFT UP iCVSO UIFN <XPNFO> XJUI BDJEu BOE UIBU iXF XBOU UIFN <JNNJHSBOUT> UP LOPX IPX XF MJWF BIFBE PG UJNFu

5IF TVEEFO TVSHF JO WJHJMBOUF TUZMF MBXGVMOFTT IBT MFGU NBOZ POMPPLFST XPOEFSJOH XIZ )FSPVYWJMMF IBT UBLFO UIF MBX JOUP

.BOLJOE IBT BMXBZT CFFO GBTDJOBUFE CZ CPVOEBSJFT 5IF JEFB PG CPVOEBSJFT DPOUBJOFE JO OBUVSBM BOE DPOTUSVDUFE DPODFQUT MJLF

JUT PXO IBOET "U UIJT QPJOU JU JT OPU DMFBS XIFUIFS )FSPVYWJMMF IBT QSFWJPVTMZ CFFO USBVNBUJ[FE CZ B IJTUPSZ PG TUPOJOHT BOE CVSOJOHT 1FSIBQT UIFTF TNBMM UPXOFST BSF VTJOH UIJT EFDMBSBUJPO UP TBGFHVBSE UIFNTFMWFT GSPN B QFSDFJWFE UISFBU PG WJPMFOU JNNJHSBOUT UIFZ CFMJFWF UP SVO SBNQBOU UISPVHIPVU UIF SFTU PG $BOBEB

"T DPOGVTJPO BOE DPOUSP WFSTZ TVSSPVOET UIJT TNBMM UPXO PG NPSBM DSVTBEFST NBOZ BSF RVFT UJPOJOH UIF FGGFDUJWFOFTT PG UIFJS UFDIOJRVFT *G UIF UPXO JT UP BEPQU B TUBOEBSE PG QSPDMBJNJOH UFSSJCMZ PCWJPVT DSJNFT BSF OPU BMMPXFE JO )BSPVYWJMMF XIBU BSF UIFZ JNQMZ JOH BCPVU XIBU JT BMMPXFE VQ UP UIJT QPJOU UIFSF IBT CFFO OP PG àDJBM QSPIJCJUJPO PG CFIFBEJOHT MZODIJOH UBSSJOH UPSUVSF PS DIJME NPMFTUBUJPO 8IJMF JNNJHSBOUT LOPX UIFZ DBOOPU CSJOH UIFJS QSJNJUJWF QSBDUJDFT UP )BSPVYWJMMF NBOZ B TPSEJE DJUJ[FO FMTFXIFSF JO UIF QSPWJODF BSF DPOTJEFSJOH UIF UPXO BT B QPUFOUJBM IPNF #: TFBO MJMJBOJ

UXJMJHIU XIFO MJHIU UVSOT UP EBSL UIF LOPXO BOE UIF VOLOPXO BOE UIF TQBDF VOEFSOFBUI ZPVS CFE IBT BMXBZT QMBZFE B TJHOJàDBOU BOE FFSJF

TUVEFOUT GSFF[JOH UP GSFF[F UVJUJPO BO FWFOU PSHBOJ[FE CZ 6 5 4 6 /05 DPOUJOVFE GSPN QBHF UIBU JO USZJOH UP BQQFBM UP BT NBOZ TUVEFOUT BT QPTTJCMF UIF PSHBOJ[FST PG UIJT DBNQBJHO NBZ CF GPDVTJOH TQFDJàDBMMZ PO UVJUJPO

#VU UVJUJPO EPFT OPU FYJTU JO B WBDVVN 5VJUJPO JT POF JTTVF CVU JU JT BO JTTVF UIBU JT SFMBUFE UP FWFSZUIJOH FMTF JO UIJT TPDJFUZ 'SPN UIJT QBSUJDVMBSJUZ POF DBO BOE JOEFFE NVTU DSFBUF B CSPBEFS DPHOJUJWF NBQ PG NBOZ PUIFS TPDJFUBM QSPCMFNT 5VJUJPO JT SFMBUFE UP IFBMUIDBSF 5VJUJPO JT SFMBUFE UP XFMGBSF 5VJUJPO JT NPTU DFSUBJOMZ SFMBUFE UP UIF DPNNPEJàDBUJPO PG FEVDBUJPO

5IF BUSPDJPVT QSJDF UBH PO

UVJUJPO JT EJSFDUMZ SFMBUFE UP XIBU XF BSF UBVHIU 8IFSF JT UIF DSJUJDBM SFáFDUJPO BCPVU UIBU 8IBU VTF JT B MPXFS UVJUJPO GFF JG BMM XF HFU UP CFDPNF JT XIJUF XBTIFE TPDJBMMZ JHOPSBOU QSPEVDUT PG B TZTUFN UIBU WBMVFT IVNBO CFJOHT POMZ JOTPGBS BT UIFZ BSF BCMF UP QSPEVDF NPSF NPOFZ

*U JT OPU UIBU UVJUJPO JT OPU B DBVTF XPSUI GPDVTJOH PO BOE àHIUJOH GPS #VU UIF 'FC DBNQBJHO JT VUUFSMZ EFWPJE PG BOZ DPOUFYU m BDBEFNJD PS TPDJBM .PWFNFOUT JO UIF QBTU IBWF GPDVTFE PO UVJUJPO BT POF BTQFDU PG TPDJFUZ OPU UIF POMZ BTQFDU PG TPDJFUZ

5IF GPDVT PO UVJUJPO XBT QBSU PG B CSPBEFS DSJUJRVF PG TPDJFUZ "OE VOUJM UIF 'FC DBNQBJHO JT EPJOH UIBU JU JT OPU iBMM PVU u *U JT UIF GVSUIFTU UIJOH GSPN iBMM PVU u *U JT iBMM JOu B DPHOJUJWF CVCCMF

8IFSF JT UIF XJEFS DSJUJRVF OPX 8IFSF JT UIJT DSJUJRVF BT BO JOUFHSBM QBSU PG UIF NPWFNFOU 8IFSF JT UIF NPWFNFOU

"MM UPP DBVHIU VQ JO TIJOZ áZFST BOE TIJOZ CVUUPOT BOE TIJOZ MPHPT BOE TIJOZ 'BDFCPPL QSPàMF QJDUVSFT "OE OP 5IBU T OPU BDUJWJTN

i*O NZ UIJOLJOH JG UIF TUVEFOUT JO UIJT DPVOUSZ GPSHPU UIF

BOBMZTJT UIBU IBT CFFO QSFTFOUFE UP UIFN BOE UIFZ XFOU JOUP B IVEEMF BOE CFHBO UP SFTFBSDI UIJT QSPCMFN GPS UIFNTFMWFT JOEFQFOEFOU PG QPMJUJDJBOT BOE JOEFQFOEFOU PG BMM UIF GPVOEBUJPOT XIJDI BSF B QBSU PG UIF QPXFS TUSVDUVSF BOE EJE JU UIFNTFMWFT UIFO TPNF PG UIFJS àOEJOHT XPVME CF TIPDLJOH CVU UIFZ XPVME TFF UIBU UIFZ XPVME OFWFS CF BCMF UP CSJOH BCPVU B TPMVUJPO BT MPOH BT UIFZ SF SFMZJOH PO UIF HPWFSONFOU UP EP JU u .BMDPMN 9 /PBNBO "MJ JT UIF 1SFTJEFOU PG "SUT BOE 4DJFODF 4UVEFOUT 6OJPO " 4 4 6

4DJFODF -JHIU PO UIF &EHF #: OJS SPUFOCFSH SBJTFE TXPSE BT IF EFUFSNJOFT UIF GBUF PG IJT WBORVJTIFE GPF GFBUVSFT JO DPVOUMFTT TUPSJFT &EHFT IBWF BMXBZT NPWFE PVS JNBHJOBUJPO BOE OPX QIZTJDJTUT BSF VTJOH B EJGGFSFOU LJOE PG CPVOEBSZ UP ESJWF PVS UFDIOPMPHJDBM QSPHSFTT

5IF àFME JT OBOPQMBTNPOJDT BOE UIF CPVOEBSZ BU IBOE JT UIF POF CFUXFFO B NFUBMMJD àMN BOE BOZUIJOH FMTF EJFMFDUSJD

5IF BUPN PG B NFUBM JT NVDI MJLF BOZ PUIFS BUPN JU IBT B OVDMFVT BSPVOE XIJDI NBOZ FMFDUSPOT PSCJU 8IFO UIFTF BUPNT KPJO UPHFUIFS UP GPSN B DIVOL PG NFUBM TVDI BT HPME PS TJMWFS TPNF PG UIF FMFDUSPOT BSF SFMFBTFE GSPN UIFJS PSCJUT BOE áPX GSFFMZ BSPVOE UIF NFUBM

5IFTF FMFDUSPOT BSF LOPXO BT UIF AGSFF FMFDUSPOT BOE UIFZ WJCSBUF CBDL BOE GPSUI BU B DFSUBJO TQFFE UIBU JT EFQFOEFOU PO UIF NFUBM BOE JUT TVSSPVOEJOHT

'PSHJWF NF GPS TPVOEJOH GBJSMZ QSPTBJD CVU TPNFUIJOH USVMZ BTUPOJTIJOH PDDVST XIFO QIZTJDJTUT TIJOF MJHIU POUP UIFTF TVSGBDFT SPMF JO PVS GPMLMPSF 5ZQJDBMMZ NFUBMT BCTPSC MJHIU CVU JG

5IF SB[PS T FEHF UIF UIF TVSGBDF JT JMMVNJOBUFE DPSSFDUMZ NPNFOU PG JOEFDJTJPO XIFO TPNFUIJOH RVJUF EJGGFSFOU BOE TVOMJHIU EBODFT EPXO UIF IFSP T FYUSBPSEJOBSZ XJMM PDDVS

#Z NFFUJOH DFSUBJO DPOEJUJPOT TVDI BT NBUDIJOH UIF GSFRVFODZ PG UIF MJHIU XBWFT UP UIBU PG UIF GSFF FMFDUSPO PTDJMMBUJPOT JU JT QPTTJCMF UP DPVQMF UIF MJHIU JOUP UIF NFUBM *O GBDU UIF NPWFNFOU PG UIF GSFF FMFDUSPOT DBO CF HSFBUMZ FOIBODFE CZ UIF MJHIU àFME UP UIF TBNF FGGFDU BT B GBUIFS QVTIJOH B DIJME PO B TXJOH FWFS IJHIFS *O UVSO UIF MJHIU àFME JT NBHOJàFE CZ UIFTF PTDJMMBUJPOT

:PV NJHIU BTL XIBU JT TJHOJàDBOU JO UIJT TPSU PG DPVQMJOH PG MJHIU UP B NFUBM 8FMM UIF MJHIU DBO USBWFM BMPOH UIF TVSGBDF PG UIF NFUBM BT JU JT AQBTTFE GSPN PTDJMMBUJOH FMFDUSPO UP PTDJMMBUJOH FMFDUSPO 'VSUIFSNPSF UIJT MJHIU XJMM TUBZ PO UIF TVSGBDF PG UIF NFUBM MJWJOH PO UIF NFUBMMJD EJFMFDUSJD FEHF 5BLFO UPHFUIFS JU NFBOT UIBU MJHIU NBZ CF DPOàOFE PO B TDBMF NBOZ UJNFT TNBMMFS UIBO XBT QSFWJPVTMZ QPTTJCMF UIFO HVJEFE BMPOH B DIPTFO QBUI *ODSFEJCMZ UIF SFTVMU JT B XJSF GPS MJHIU

*G ZPV BSF TUJMM VODPOWJODFE BCPVU UIF VTFGVMOFTT PG UIJT DPVQMJOH DPOTJEFS UIF GPMMPXJOH $VSSFOUMZ FMFDUSPOJD FRVJQNFOU JT CBTFE PO UIF áPX PG BO FMFDUSJD DVSSFOU &MFDUSPOT IBWF B NBTT

IPXFWFS TNBMM BOE DPOTFRVFOUMZ BT &JOTUFJO TVHHFTUFE UIFZ BMXBZT USBWFM BU B TQFFE UIBU JT TMPXFS UIBO MJHIU 5IFSFGPSF B EFWJDF UIBU JT CBTFE PO FMFDUSPOJDT JT EPPNFE UP GVODUJPO BU B GSBDUJPO PG UIF SBUF PG POF UIBU JT CBTFE PO MJHIU 5IF QSPCMFN UP EBUF IBT CFFO UIBU JU IBT CFFO JNQPTTJCMF UP USBQ MJHIU PO B TDBMF UIBU JT DPNQBSBCMF UP UIBU PG DPOWFOUJPOBM FMFDUSPOJDT BOE XIP SFBMMZ XBOUT BO J1PE OBOP UIBU JT B UIPVTBOE UJNFT MBSHFS UIBO JU IBT UP CF 6TJOH OBOPQMBTNPOJDT UIJT TDBMF EJGGFSFODF DBO CF CSJEHFE BOE PQUJDBMMZ CBTFE EFWJDFT NBZ CFDPNF B SFBMJUZ

4P UIF OFYU UJNF ZPV XPSL PO ZPVS DPNQVUFS BOE ZPV UIJOL UIBU JU JT KVTU XBZ UPP TMPX UIJOL PG UIF QIZTJDJTUT XPSLJOH BXBZ PO UIFTF AMJHIU XJSFT "OE BT GPS CPVOEBSJFT XIFSF JNBHJOBUJPO UVSOT UP SFBMJUZ HSFBU UIJOHT DBO IBQQFO

/&84

à¸&#x20AC; à¸&#x20AC;

à¸&#x20AC;

#"% DPOUJOVFE GSPN QBHF GPS UIF TUBUFE SFBTPO PG NBLJOH ;JNCBCXFBO DJUJFT NPSF QMFBTJOH UP UIF FZF CVU JOTJEFST DMBJN UIFZ XFSF B NPWF CZ .VHBCF BOE IJT DSPOJFT UP QSFWFOU TUBCMF DPNNVOJUJFT PG OFXDPNFST GSPN CFJOH FTUBCMJTIFE UIBU NBZ MBUFS DPNF UP DIBMMFOHF IJT DPOUSPM PG UIF DBQJUBM DJUZ XIJDI JT B DSVDJBM QBSU PG BOZ EJDUBUPS T SVMF

5IJT MBTU FTTFOUJBM PG EJDUB UPSJBM SVMF UP BCPVU UP CF EJTDVTTFE JT BMM BCPVU JNQSFTTJPO %JDUBUPST BMM TFFL UP QSFTFOU UIFJS BDUJPOT BOE UIFJS SVMF BT CFJOH GPS UIF HPPE PG FW FSZPOF JOWPMWFE *U JT PGUFO BSHVFE UIBU BO PQFO TZTUFN XJUI TIBSFE QPXFS XPVME CF VOTUBCMF

5IF BDUJPOT PG EJDUBUPST NBLF JU DMFBS UIBU UIFZ HFOFSBMMZ EP OPU IBWF B QSPCMFN XJUI EPJOH UIJOHT UIBU BSF IBSNGVM UP UIFJS QFPQMF CVU OFFE UP DSFBUF UIF JN QSFTTJPO UIBU UIFZ BSF BDUJOH GPS UIFJS QFPQMF T CFTU JOUFSFTUT

/PSUI ,PSFBO 3VMFS ,JN +POH *M IBT NBTUFSFE UIJT QSJODJQMF BNJETU UIF JNQSFTTJWF TPDJBM BOE FDPOPNJD EFWFMPQNFOU UISPVHIPVU &BTU "TJB CZ LFFQJOH UIF QPQVMB

UJPO PG /PSUI ,PSFB MFGU CFIJOE JO FYUSFNF QPWFSUZ BOE FDPOPNJD JTP MBUJPO +POH *M IPMET UPUBM DPOUSPM PO XIBU DPNFT JO PS PVU UIF DPVOUSZ CF JU QFPQMF HPPET PS JOGPSNBUJPO /PSUI ,PSFB IBT OPUIJOH SFTFN CMJOH B GSFF QSFTT BOE JT UIF POMZ DPVOUSZ JO UIF XPSME XIFSF VTF PG UIF JOUFSOFU JT QSPIJCJUFE %FTQJUF UIF VOEFOJBCMZ EJSF TJUVBUJPO UIF TUBUF PXOFE SBEJP CPNCBSET /PSUI ,PSFBOT EBJMZ XJUI QSPDMBNBUJPOT PG UIF MPWJOH MFBEFS T HPPEXJMM BOE DPNQBTTJPO "MM UIF XIJMF UIF HPW FSONFOU TQFOET UIF XPSME T IJHIFTU QFSDFOUBHF PG (SPTT %PNFTUJD 1SPE VDU PO UIF NJMJUBSZ XIJMF MFUUJOH NJM MJPOT TUBSWF

" EJTDVTTJPO PG EJDUBUPS TIJQT OPU POMZ TIFET MJHIU PO UIF TVGGFSJOH PG NBOZ QFPQMF CVU BMTP UIF IZQPDSJTZ DPNNPO XJUIJO UIF DVSSFOU JOUFSOBUJPOBM PSEFS *OUFS OBUJPOBM EJQMPNBDZ DMBJNT UP CF DPOEVDUFE VOEFS B DPEF PG NPSBMT XIJDI GFBUVSFT SFTQFDU GPS IVNBO SJHIUT EFNPDSBDZ BOE PQFO FDPOP NJFT %FTQJUF UIF IJHI NJOEFE SIFUPSJD ZPV EP OPU OFFE UP MPPL

3&-*(*0/4 DPOUJOVFE GSPN QBHF EFTQFSBUF BQQFBM GPS BDDFQUBODF DPNNVOJUJFT JO XIJDI XF MJWFu JOUP $BOBEJBO TPDJFUZ "T 3JDL #BTT VOEFSTDPSFE +VEBJTN T DPN 4BMVUJO UIF DPOGFSFODF NPEFSBUPS NJUNFOU UP TPDJBM DPIFTJPO BOE JUT QPJOUFE PVU 4FQUFNCFS NBSLFE WBMVF UP TPDJFUZ %S ,VSU "OEFST 3JDI UIF FOE PG DJWJM EJTDPVSTF iVQ VOUJM UIFSF XBT SFTQFDUGVM BSETPO QPJOUT PVU UIBU UIFSF JT B EJTBHSFFNFOU BGUFS UIF TPVSDF TDSJQUVSBM CBTJT GPS SFMJHJPVT UPM FSBUJPO JO $ISJTUJBO UIPVHIU 1BOEJU PG BOHFS BOE SBHF PQFOFEu

4VQFSÃ DJBMMZ TQFBLJOH 3PPQOBVUI 4IBSNB SFQSFTFOUJOH $BOBEB T EPOF XFMM JO PGÃ DJBUJOH )JOEVJTN NBEF JU DMFBS UIBU UIFSF UIF NVMUJDVMUVSBM NBOEBUF 5PSPOUP JT B QSJWJMFHJOH PG B QBSUJDVMBS WBMVF IBT DPOUJOVPVTMZ CFFO OBNFE POF TZTUFN UIBU HPFT BCPWF BOE CFZPOE PG UIF NPTU EJWFSTF DJUJFT JO UIF NFSFMZ BO BMMFHJBODF UP UIF TUBUF XPSME #VU XIBU HPPE JT JU JG UIF GB 5IF QBSUJDVMBSJUJFT PG OBUJPOT BOE NPVT $BOBEJBO UPMFSBODF USBOTMBUFT SFMJHJPOT BSF JSSFMFWBOU CFDBVTF UP IPMEJOH POUP QSJWBUF QSFKVEJDFT )JOEVJTN Ã STU BOE GPSFNPTU CPXT UP QPMJUFMZ EJTEBJOJOH WBMVFT UIBU BSF SJHIUFPVTOFTT 5IJT DPODFQU PG SJHI EJGGFSFOU 8IZ EFWFMPQ B TPDJFUZ UFPVTOFTT JODMVEFT XJUIJO JU UIF JEFB CVJMU PO EJWFSTJUZ XIFO UIF TBNF PG SFMJHJPVT UPMFSBUJPO BDDFQUJOH PG FMFNFOUT PG EJWFSTJUZ IBWF USPVCMF PUIFST TP PO BOE TP GPSUI *U JT DMFBS GSPN UIF QSFTFO CFJOH EJWFSTF 'PS B HPPE EFBM PG PVS NZPQJD FYJTUFODF UIF DSZ PG EJWFSTJUZ UBUJPOT UIBU UIF UIFNBUJD VOJUZ JO IPMMFSFE CZ VQQFS NJEEMFDMBTT XIJUF UIFTF NFTTBHFT JT UIF JEFB UIBU UIF NBMF CVSFBVDSBUT IBT NBEF JOSPBET NFBOT UP SFDPODJMJOH GBJUI BOE MPZ JOUP TPDJFUZ BT EFFQ BT BO FQJTPEF PG BMUZ UP OBUJPO JT SFMJHJPVT UPMFSBUJPO

/BTFFN .BIEJ PG UIF *TMBN UIF 5ZSB #BOLT TIPX

&BDI POF PG UIF QSFTFOUB GBJUI XFOU GVSUIFS UIBO TJNQMZ NBL UJPOT TUSFTTFE UIF JEFB UIBU UIF GBJUI JOH UIF DBTF GPS SFMJHJPVT UPMFSBUJPO JO RVFTUJPO XBT DPNQBUJCMF UP UIF 8JUI B 1PXFS1PJOU QSFTFOUBUJPO BU QPJOU PG FYIPSUJOH UIF TBNF WBMVFT IBOE IF TZTUFNBUJDBMMZ BUUFNQUFE UP EFCVOL UIF OFHBUJWF TUFSFPUZQFT XJUI $BOBEJBO TPDJFUZ

5IF Ã STU TQFBLFS XBT %S PG *TMBN .BIEJ EJE OPU CVMMTIJU )F #SBE #BTT XIP EJTDVTTFE +VEBJTN CFHBO PVUSJHIU XJUI UIF GPMMPXJOH XJUI SFHBSET UP JUT WBOUBHF QPJOU BT RVPUF iXF DPOTJEFS JU BHBJOTU UIF B GBJUI QSBDUJDFE CZ NJOPSJUJFT )JT FTTFODF PG *TMBN UIBU TPNF QFPQMF QFSTQFDUJWF XBT GPVOEFE PO UIF JEFB CFOFÃ U GPSN FDPOPNJD TPDJBM BOE UIBU JG iUIF OBUJPO QSPTQFST XF BMM IVNBO SJHIUT JO UIF DPVOUSZ PG QSPTQFSu "EBNBOU JO UIF GBDU UIBU SFTJEFODF CVU BSF BMTP MPZBM UP PUIFS UIF +FXJTI QSBZ FWFO GPS TFDVMBS DPVOUSJFT PS PSHBOJ[BUJPOTu )F BS OPO +FXJTI BVUIPSJUZ BOE iTVQQPSU HVFE UIBU B HPPE .VTMJN XPVME OPU

CF EJTMPZBM UP B DPVOUSZ UIBU PGGFST GSFFEPN UP JUT DJUJ[FOT

5P .BIEJ *TMBNJD WBMVFT XFSF BMSFBEZ QSBDUJDFE JO UIF XFTU )F FYQBOET PO UIJT QPJOU CZ SF DPVOUJOH B DPNNFOU NBEF CZ B GFM MPX .VTMJN UIBU iJO $BOBEB UIFSF JT B MPU PG *TMBN CVU OP .VTMJNT BOE JO BO *TMBNJD DPVOUSZ UIFSF JT B MPU PG .VTMJNT CVU OPU *TMBNu .BIEJ UIFO ESJWFT UIJT QPJOU IPNF JO B 1PXFS1PJOU TMJEF UIBU TIPXT JO CPME MBSHF MFUUFST MPWF PG ZPVS IPNFMBOE JT QBSU PG ZPVS GBJUI 0G DPVSTF SF MJHJPVT UPMFSBUJPO Ã HVSFT JO IJT QSF TFOUBUJPO BT JT UIBU GBDU UIBU DSFBUJOH EJTPSEFS JT OPU BDDFQUBCMF JO *TMBN

*U JT PCWJPVT UIBU *TMBN IBT UIF NPTU UP HBJO GSPN UIF 8PSME 3FMJHJPOT $POGFSFODF /P PUIFS GBJUI PO UIF QBOFM IBT UP SFTQPOE UP UIF TBNF MFWFM PG TPDJFUBM NJTVOEFS TUBOEJOH BOE CMBUBOU JHOPSBODF *U JT B TIBNF UIBU SFMJHJPVT DPODJMJBUJPO JT OPU BO FBTJFS SPVUF CFJOH UIBU $BOBEB JT LOPXO GPS JUT TUBLF JO UIF NPSBM IJHI HSPVOE .VMUJDVMUVSBM JTN BT FUIOJD EJWFSTJUZ JT BO FBTJFS QJMM UP TXBMMPX UIBO SFMJHJPVT EJWFS TJUZ CFDBVTF XJUI UIF MBUUFS DPNFT BO FWFO CJHHFS USBJM PG QPMJUJDBM CBH HBHF

*O UIF FOE UIF DPOGFSFODF NBOBHFE UP BMMBZ GFBST PG SFMJHJPO BT B TPDJBM UISFBU #VU UIF NPSF QFSUJ OFOU RVFTUJPO UIBU SFNBJOT UP CF BO TXFSFE JT IPX EP XF NPWF CFZPOE EJTQBSBHJOH SFMJHJPO UP BDDFQUJOH JU BT B SFBMJUZ PG MJGF

EJGÃ DVMU UP PSHBOJ[F BOE FYFDVUF B SFWPMVUJPO XIFO QFPQMF EPO OPU IBWF FOPVHI UP FBU 0OMZ PODF QFPQMF IBWF TUFBEZ BDDFTT UP UIF CBTJD FTTFOUJBMT PG MJGF DBO UIFZ TFFL BOZUIJOH CFZPOE UIF OFDFTTBSZ ,FFQJOH DJUJ[FOT DPOTUBOUMZ TDSBN CMJOH GPS TVCTJTUFODF JT POF XBZ PG QSPUFDUJOH B MFBEFS T IPME PO QPXFS "U UIF TBNF UJNF OP EJDUBUPS XBOUT UP DSFBUF DPOEJUJPOT UIBU BSF DPOEV DJWF UP UIF SJTF PG B DIBSJTNBUJD BOE JOUFMMJHFOU ZPVOH QFSTPO XIP DPVME POF EBZ FOE VQ BT IJT TVDDFTTPS

" UFMMJOH FYBNQMF PG UIJT SVMJOH NFUIPE JT ;JNCBCXFBO QSFTJEFOU 3PCFSU .VHBCF XIP IBT CFFO DMJOHJOH UP QPXFS TJODF MFBE JOH UIF MJCFSBUJPO NPWFNFOU UIBU CSPVHIU UIF "GSJDBO OBUJPO JOEFQFO EFODF GSPN (SFBU #SJUBJO JO .VHBCF SPVUJOFMZ CMPDLT GPPE JNQPSUT UP TFDUJPOT PG UIF DPVOUSZ UIBU TVQQPSU IJT PQQPTJUJPO )F BMTP MFE B DBNQBJHO UP SJE UIF DBQJUBM DJUZ )BSBSF BOE PUIFS NBKPS VSCBO DFO UFST PS JOGPSNBM TFUUMFNFOUT PG OFXMZ BSSJWFE NJHSBOU XPSLFST 5IF NBLF TIJGU TIBOUZ UPXOT XFSF EJTNBOUMFE

GVSUIFS UIBO ZPVS OFBSFTU OFXTTUBOE UP Ã OE FYBNQMFT PG OFHMJHFODF JO UIF GBDF PG EJSF DSJTFT 5IJT UIFO CFHT UIF RVFTUJPO PG XIZ UIF JOUFS OBUJPOBM DPNNVOJUZ TP PGUFO TJUT JEMF XIZ NJMMJPOT PG QFPQMF TVGGFS VOEFS EJDUBUPST

*OUFSOBUJPOBM MBX DBO PGGFS B QBSUJBM FYQMBOBUJPO 5IF SVMFT PG JOUFSOBUJPOBM DPOEVDU TBZ UIBU POF TUBUF DBOOPU NFEEMF JO UIF EPNFTUJD BGGBJST PG BOPUIFS TPWFSFJHO TUBUF *O SFBMJUZ UIJT LJOE PG NFEEMJOH IBQ QFOT BMM UIF UJNF JO UIF GPSN PG MPQ TJEFE USBEF BHSFFNFOUT CVU JO UIF DPOUFYU PG EJDUBUPST B UZSBOU DBO PG UFO PQFSBUF XJUI JNQVOJUZ BT MPOH BT IJT PQQSFTTJPO EPFT OPU DPNQSPNJTF UIF JOUFSFTUT PG PUIFS DPVOUSJFT

"U UIF TBNF UJNF JOUFSOB UJPOBM MBX EPFT DPNQFM PO QBQFS BU MFBTU UIF XPSME DPNNVOJUZ UP JOUFSWFOF JO UJNFT PG HFOPDJEF PS PUIFS FYUSFNF FNFSHFODJFT :FU UIFSF BSF NBOZ DBTFT MJLF QSFTFOU EBZ 6[CFLJTUBO PS .ZBONBS XIFSF UIF JOUFSOBUJPOBM DPNNVOJUZ UVSOT B CMJOE FZF BOE BMMPXT EFTQPUJD SF HJNFT UP DPNNJU BUSPDJUJFT XJUI MJUUMF

UP OP DPOEFNOBUJPO

#VU NBZCF JOUFSWFOJOH JO UIF XPSME T IPU TQPUT JT OPU BMXBZT B HPPE UIJOH "U UIF WFSZ MFBTU BT PCTFSWFST JU NBLFT TFOTF UP MPPL MPOH BOE IBSE BU UIF UJNFT XIFO UIF JOUFSOBUJPOBM DPNNVOJUZ EPFT JOUFS WFOF BOE FYBNJOF UIF EJGGFSFODFT CFUXFFO DPOáJDUT UIBU BSF JOUFS SVQUFE BOE UIPTF UIBU BSF JHOPSFE

5IF TJUVBUJPO JO QSFTFOU EBZ *SBR IBT TIPXO XIBU IBQQFOT XIFO JOUFSWFOUJPO JT OPU FYFDVUFE QSPQFSMZ PS XFMDPNFE CZ UIF MPDBM QPQVMBUJPO 4BEEBN )VTTFJO XBT SFNPWFE GSPN QPXFS CZ BO "NFSJ DBO MFE DPBMJUJPO GPS UIF TUBUFE SFBTPO PG OFFEJOH UP FOE IJT UZSBO OJDBM SVMF BOE CSJOH iGSFFEPNu UP BO PQQSFTTFE QPQVMBUJPO )VTTFJO T SVMF XBT XJUIPVU EPVCU BT CSVUBM BT UIFZ DPNF 5ISPVHIPVU IJT UJNF JO QPXFS )VTTFJO DPOEVDUFE NBTT LJMM JOHT PG *SBR T ,VSEJTI BOE 4IJB DPN NVOJUJFT BOE FMJNJOBUFE QPMJUJDBM PQQPOFOUT PS BOZPOF IF WJFXFE BT B QPUFOUJBM UISFBU UP IJT SVMF *SBR TVG GFSFE IFBWZ JOUFSOBUJPOBM FDPOPNJD TBODUJPOT BT B DPOTFRVFODF PG IJT BD

UJPOT CVU MJLF BOZ EJDUBUPS 4BEEBN DIPTF MFUUJOH IJT QPQVMBUJPO TVGGFS PWFS MPPTFOJOH IJT HSJQ PO QPXFS 8IJMF 4BEEBN JO UIF FOE XBT SFNPWFE GSPN QPXFS UIF OVNCFS PG TUJMM GVODUJPOJOH EJDUBUPSTIJQT BDSPTT UIF XPSME EFNPOTUSBUFT UIF POMZ TJUVBUJPOT UIBU JOTQJSF GPSFJHO JOUFSWFOUJPO TFFN UP CF UIPTF XIFSF 8FTUFSO JOUFSFTUT BSF BU TUBLF " 6 4 DPOUSPMMFE *SBR HJWFT UIF 6 4 B GPPUIPME JO UIF PJM SJDI .JEEMF &BTU 5IF 6 4 JT OPX UBLJOH BO JOUFSFTU JO /PSUI ,PSFB BT ,JN +POH *M NPWFT GPSXBSE XJUI IJT OVDMFBS BNCJUJPOT )BWJOH B EJDUBUPS JO QPXFS DBO CF B DPOWFOJFOU FYDVTF GPS B DPWFSU TUZMF PG OFP DPMPOJBMJTN 5BLJOH PWFS B DPVOUSZ UP DPOUSPM JUT HPWFSONFOU BOE SFTPVSDFT JT NVDI FBTJFS UP TFMM UP UIF QVCMJD XIFO JU JT CFJOH UBLFO PWFS GSPN B CBE HVZ

)FBMUI .JTmUT #: GBSIFFO TIBJLI

)BSU )PVTF )BJS 1MBDF 'JOFTU $VUUJOH BOE 4UZMJOH $PMPS BOE )JHIMJHIUT

.POEBZ UP 'SJEBZ o 4BUVSEBZ 'PS "QQPJOUNFOUT $BMM

)BSU )PVTF

&YDFMMFOU 8PSL 3FBTPOBCMF 3BUFT

3FDFOUMZ ##$ DP VL SFMFBTFE BO BSUJDMF UIBU RVJDLMZ HBJOFE QPQVMBSJUZ BNPOHTU UIF SFBEJOH XPSME 5IF BSUJDMF MPPLFE BU SFBTPOT XIZ DPOEPNT XFSF OPU BO FGÃ DJFOU GPSN PG CJSUI DPOUSPM GPS 4PVUI "TJBO NFO #MVOUMZ TUBUFE UIF BSUJDMF DMBJNFE UIBU iDPOEPNT NBEF BDDPSEJOH UP JOUFSOBUJPOBM TJ[FT BSF UPP MBSHF GPS B NBKPSJUZ PG *OEJBO NFO u 8IJMF UIJT QSFEJDUBCMZ MFE UP JOFYPSBCMF TOJDLFST BOE HJHHMFT GSPN TPNF SFBEFST QFSIBQT UIFTF WFSZ SFBEFST BOE PWFSMPPLJOH B WFSZ JNQPSUBOU QPJOU

"SUJDMFT MJLF UIFTF BSF DMFBSMZ EFTJHOFE UP IPPL SFBEFST UIFZ BJN UP CSJOH PVU UIF DBSOBM TFYVBM JEFPMPHJFT JO BMM PG VT UIF QSFTVQQPTFE OPUJPOT UIBU iHVZT TIPVME CF CJHu BOE XIFO UIFZ BSF OPU BOE XF SFBE BSUJDMFT MJLF UIF POF QVU PVU CZ ##$ JU NBLFT VT MBVHI

*U BMTP IFMQT VT EFWFMPQ TUFSFPUZQFT

#FDBVTF UIJT BSUJDMF XBT QSPCBCMZ SFBE CZ NBOZ MJOLFE PO CMPHT QFSTPOBM XFCTJUFT BOE QBTTFE BSPVOE PO DIBU DPOWFSTBUJPOT NBOZ NPSF QFPQMF

UIBO CFGPSF QSPCBCMZ CFMJFWF UIBU UIJT JT B DPOEJUJPO PG BMM 4PVUI "TJBO NFO

4PNFUIJOH UIBU JT BDUVBMMZ WFSZ JNQPSUBOU JO EFUFSNJOJOH UIF TFYVBM IFBMUI PG TFYVBMMZ BDUJWF JOEJWJEVBMT JT QSPCBCMZ OPU CFJOH UBLFO TFSJPVTMZ CFDBVTF PG QSFTVQQPTFE JEFPMPHJFT 8F BSF JNNPCJMJ[FE CZ MBVHIUFS m UIJT JT PCWJPVTMZ B HFOFSBMJ[BUJPO BT UIFSF BSF SFBEFST XIP VOEFSTUBOE UIF SFQFSDVTTJPOT PG B TJUVBUJPO MJLF UIJT POF

&GGFDUJWF BOE BGGPSEBCMF CJSUI DPOUSPM JT TPNFUIJOH XF UBLF GPS HSBOUFE JO UIF XFTUFSO XPSME "DDPSEJOH UP UIF 8PSME )FBMUI 0SHBOJ[BUJPO JU JT FTUJNBUFE UIBU iPWFS NJMMJPO DPVQMFT EP OPU VTF DPOUSBDFQUJWFT EFTQJUF XBOUJOH UP TQBDF PS MJNJU UIFJS DIJMECFBSJOHu

5IJT TUBUJTUJD JT BMBSNJOH GSPN B .BMUIVTJBO QPJOU PG WJFX BT JU TIPVME OPU CF OFXT UP BOZPOF UIBU UIFSF JT BO PWFSQPQVMBUJPO DSJTJT JO UIF FBTUFSO XPSME 'SPN B IFBMUI QFSTQFDUJWF NVDI PG UIF JTTVFT GBDFE CZ EFWFMPQJOH OBUJPOT DBO CF SFEVDFE UP UIF MBDL PG SFTPVSDFT BOE NFEJDBUJPO BWBJMBCMF BT BJE GPS UIF HSPXJOH OVNCFS PG QFPQMF

/VUSJUJPO JO UIJT BTQFDU JT QSPCBCMZ UIF NPTU JNQPSUBOU GBDUPS BT UIF NBKPSJUZ PG EFWFMPQJOH OBUJPOT QPQVMBUJPOT BSF CFMPX UIF QPWFSUZ MJOF BOE UIVT CBSFMZ NBOBHF UP QJFDF UPHFUIFS B NFBM

&GGFDUJWF CJSUI DPOUSPM TUSBUFHJFT TIPVME CF POF PG UIF Ã STU NPEF PG BDUJPO UP DPNCBU QPWFSUZ EJTFBTF BOE B GBJMJOH FDPOPNJD BOE TPDJBM TUSVDUVSF 0G DPVSTF UIJT TIPVME BMTP CF VTFE JO DPOKVODUJPO XJUI UIF QSPQFS FEVDBUJPO PO TBGF QSBDUJDFT BOE UFDIOJRVFT

8IZ UIFO JT TVDI B TFSJPVT JTTVF BT DPNQSPNJTFE CJSUI DPOUSPM UBLFO TP MJHIUMZ CZ TP NBOZ &TQFDJBMMZ XIFO UIF OFFE GPS QSPQFS CJSUI DPOUSPM JT BU JUT BMM UJNF IJHI BOE JU JT OPU IFMQFE CZ UIF GBDU UIBU UP NBOZ BOZ GPSN PG CJSUI DPOUSPM JT XJEFMZ VOBWBJMBCMF OFWFS NJOE UIBU JU OPU UIF SJHIU TJ[F

5IF BSUJDMF TUBUFT IPX UIF NBKPSJUZ PG *OEJBO NFO XPVME CF FNCBSSBTTFE PS TIZ UP BQQSPBDI UIFJS QIBSNBDJFT UP SFRVFTU B DPOEPN JO B TNBMMFS TJ[F 5IJT FYQPTFT OPU POMZ UIF OFFE GPS DPOEPNT UP CF BWBJMBCMF NPSF CSPBEMZ BOE JO EJGGFSFOU TJ[FT CVU BMTP UIF OFFE GPS UIFTF DPOEPNT UP CF BWBJMBCMF JO

NPSF BDDFTTJCMF QMBDFT UIF BSUJDMF TVHHFTUFE WFOEJOH NBDIJOFT

.JOJNJ[JOH UIF JOUFSBDUJPO CFUXFFO UIPTF UIBU TFMM DPOEPNT BOE UIPTF UIBU OFFE JU DPVME IFMQ GVSUIFS UIF VTF PG CJSUI DPOUSPM JO *OEJB 5IFSF JT TUJHNB BUUBDIFE BOE NPTU NFO XIFO DPOGSPOUFE XJUI UIF OPUJPO PG TFBSDIJOH GPS UIF SJHIU DPOEPNT PWFS OPU VTJOH UIFN BU BMM XPVME DIPPTF UIF MBUUFS w BOE JG FWFSZ NBO UIPVHIU MJLF UIBU UIFO XFMM ZPV DPVME JNBHJOF UIF DPOTFRVFODFT

" MPU PG QSPHSBNT JOUFOE UP PQFO DMJOJDT UIBU FEVDBUF NFO BOE XPNFO BCPVU TFY BOE CJSUI DPOUSPM BOE GBNJMZ QMBOOJOH #VU IPX BSF UIFTF QSPHSBNT FGGFDUJWF XIFO FWFO UIF NPSF BGáVFOU DMBTT TVGGFS CFDBVTF PG TPNFUIJOH TP TNBMM BT wXFMM B DPOEPN TJ[F

5IF ##$ BSUJDMF DBO CF GPVOE BU IUUQ OFXT CCD DP VL IJ TPVUI@BTJB TUN

-BVHIJOH NBUUFS PS OPU B DPOEPN UIBU XJMM OPU Ã U EFÃ OJUFMZ TIJOFT B OFX MJHIU PO UIF JTTVF PG PWFSQPQVMBUJPO

3&7*&84

฀

฀ ฀

.PWJFT

#FDBVTF * 4BJE 4P

5IF *UBMJBO

4UBSSJOH ,PMZB 4QJSJEPOPW %FOJT .PJTFFOLP 4BTIB 4JSPULJO %JSFDUFE CZ "OESFJ ,SBWDIVL 5IF àSTU TDFOFT PG 5IF *UBMJBO TIPX BO 467 QBDLFE XJUI BO *UBMJBO DPVQMF BO BEPQUJPO CSPLFS BOE IFS ESJWFS DMVOLJOH BMPOH MPOH TUSFUDIFT PG DPME TMVTIZ OPUIJOHOFTT 8F BSF JO SVSBM 3VTTJB 5IF DBS TPPO TUBMMT $PSSFDUJPO JU JT SVSBM QPTU 4PWJFU 3VTTJB BOE FWFSZUIJOH JT DPMMBQTJOH 5IF POMZ UIJOHT 3VTTJB JT PWFSáPXJOH XJUI UIFTF EBZT BSF CPP[F BOE PSQIBOT 8IFO B GPSFJHO DPVQMF BEPQUT POF DIJME B QBJS PG PSQIBOT SFNBSL iUIF EJSFDUPS ESBOL GPS B XFFL u 4UJMM JU JT JO UIFTF JMMFHBM BEPQUJPOT CZ SJDI GPSFJHO DPVQMFT UIBU NPTU DIJMESFO TFF UIFJS TBMWBUJPO 5IF *UBMJBO JT JO NBOZ XBZT B SFCVLF UP B TUBUF GBJMJOH JUT ZPVOHFS HFOFSBUJPO 8IFSF *UBMZ JT B QMBDF UP FBU PSBOHFT JO UIF TVO 3VTTJB JT GBTU CFDPNJOH B XBTUFMBOE :FU JU JT JO UIJT CBDLESPQ UIBU TJY ZFBS PME 7BOZB EVNQT UIF LJOE *UBMJBO DPVQMF MPPLJOH UP BEPQU IJN UP HP JO TFBSDI PG UIF NPUIFS XIP BCBOEPOFE IJN 7BOZB T DIBOHF PG IFBSU JT QSPNQUFE CZ B EJTUSBVHIU NPUIFS XIP DPNFT

UP UIF PSQIBOBHF MPPLJOH GPS IFS TPO POMZ UP EJTDPWFS IF IBT BMSFBEZ CFFO BEPQUFE *O "OOB ,BSFOJOB MJLF GBTIJPO TIF IVSMT IFSTFMG JO GSPOU PG B NPWJOH USBJO 5IF SFTU PG UIF àMN GPMMPXT 7BOZB BT IF WBMJBOUMZ USJFT UP SFBMJ[F IJT RVFTU )F MFBSOT UP SFBE CSFBLT JOUP IJT QFSTPOBM àMFT TUFQT PVU JOUP UIF HSJNZ TUSFFUT PG 3VTTJB XIFSF IF PVUXJUT DIJME NVHHFST BOE EPEHFT .BEBN UIF BEPQUJPO CSPLFS BOE IFS TJEFLJDL ESJWFS DVN MPWFS XIP BSF JO SBCJE QVSTVJU "GUFS BMM UIFZ TUBOE UP MPTF B MPU PG NPOFZ JG UIFZ EPO U SFDPWFS IJN "OESFJ ,SBWDIVL UIF EJSFDUPS IBT NBEF B àMN UIBU JT RVBTJ EPDVNFOUBSZ RVBTJ %JDLFOTJBO BOE BMM GBJSZUBMF 5IF TDFOFT BSF BDIJOHMZ SFBM JO UIFJS EFQJDUJPO PG UIF TFFEZ VOEFSCFMMZ PG 3VTTJBO PSQIBOBHFT m UIF FNPUJPOBM BOE QIZTJDBM QSJWBUJPOT UIF TIBEZ CVTJOFTT EFBMJOHT BOE UIF NJDSP TPDJFUZ PG "SUGVM %PEHFST GPSNFE CZ B SBH UBH CVODI PG VSDIJOT 5IF DBTU B NJY PG BDUVBM PSQIBOT BOE BDUPST JT

4UBSSJOH %JBOF ,FBUPO .BOEZ .PPSF (BCSJFM .BDIU %JSFDUFE CZ .JDIBFM -FINBOO

B JNQFDDBCMF "OE ,PMZB 4QJSJEPOPW QVUT GPSUI B IFBSU SFOEJOHMZ OBUVSBM QFSGPSNBODF 8IFSF UIF *UBMJBO GBMUFST JT JO JUT TUPSZ JUT GBJMVSF UP SFDPHOJ[F UIBU NPTU 7BOZBT XJMM OPU àOE UIFJS NPUIFST XBJUJOH PS BCMF UP TDPPQ UIFN VQ JO UIFJS MPWJOH BSNT 5IF WJMMBJOT JO UIJT àMN BT NFSDFOBSZ BT UIFZ BSF CFMJFWF UIFJS BDUJPOT BSF JO 7BOZB T CFTU JOUFSFTUT UIBU UIF CFTU UIJOH GPS IJN BOE GPS UIF PUIFS DIJMESFO XPVME CF GPSFJHO BEPQUJPO " TFOUJNFOU NBOZ PG UIF PUIFS PSQIBOT TIBSF #VU XF BSF NFBOU UP DIFFS PO 7BOZB )PXFWFS JU JT EJGàDVMU UP GPSHFU UIBU UIF TVDDFTT PG IJT RVFTU NBZ QVU UIF PSQIBOBHF JO EJTSFQVUF NBLJOH JU BMM UIF NPSF EJGàDVMU GPS UIF PUIFS PSQIBOT UP àOE IPNFT %FTQJUF UIFTF MPHJDBM HBQT UIF QPJHOBODZ BOE WVMOFSBCJMJUZ PG B DIJME TFBSDIJOH GPS IJT NPUIFS TUJMM IBT B DFSUBJO QSJNPSEJBM SJOH 3BNZB +FHBUIFFTBO

i#FDBVTF * 4BJE 4Pu JT B NPWJF UIBU DPOUBJOT OP TVSQSJTFT "OZPOF XIP IBT IBE B QFFL BU UIF USBJMFS PS FWFO KVTU BU UIF QPTUFS XJMM LOPX FYBDUMZ XIBU UP FYQFDU 5IF NPWJF EPFT OPU EJTBQQPJOU OPS EPFT JU UISJMM JU T KVTU TUBOEBSE SVO PG UIF NJMM )PMMZXPPE LJUTDI %JBOF ,FBUPO IFBET VQ B # MJTU DBTU JO UIJT JODPOTFRVFOUJBM SPNBOUJD DPNFEZ %BQIOF m,FBUPO JT BO PWFSQSPUFDUJWF XJEPXFE NPUIFS PG UISFF HSPXO HJSMT BMM XIP BEPSBCMZ IBWF OBNFT CFHJOOJOH XJUI UIF MFUUFS . :FT JU T UIBU LJOE PG NPWJF 4IF OBHT BOE GSFUT BCPVU UIF HJSMT QBSUJDVMBSMZ BCPVU áBLZ BOE EFTQFSBUF .JMMZ %BQIOF TDIFNFT UP TFU IFS VQ XJUI UIF QFSGFDU NBO XIPN TIF SFDSVJUT GSPN BO POMJOF QFSTPOBMT BE CVU QSFEJDUBCMZ CVOHMFT UIF QMBO .FBOXIJMF %BQIOF FYQFSJFODFT B NJEMJGF DSJTJT PO UIF WFSHF PG IFS àGUJFUI CJSUIEBZ )FS EBVHIUFST FODPVSBHF IFS UP àOE B OFX MPWF PG IFS PXO CVU TIF SFTJTUT 4JHOBMT BSF DSPTTFE FNCBSSBTTJOH SFWFMBUJPOT

PDDVS BOE SPNBOUJD NVTJDBM DIBJST FOTVFT .Z JOJUJBM SFBDUJPO UP %JBOF ,FBUPO T SPMF JT UIBU JU XBT NFSFMZ B SFQSJTF PG IFS MBTU ZFBS T NPWJF i5IF 'BNJMZ 4UPOF u &WFO TPNF PG IFS PVUàUT MPPL TUSBOHFMZ TJNJMBS #VU BT UIF NPWJF QSPHSFTTFE * TBX UIBU UIJT XBT OPU UIF DBTF 5IF VTVBMMZ TFSFOF BOE SBEJBOU %JBOF TFFNFE QSPEEFE JOUP IZTUFSJDBM NFMPESBNB JO UIJT SPMF 5IF GBDU UIBU TIF XBT VOEFSVTFE BOE DPVME EP GBS CFUUFS TPNFXIBU TQPJMFE NZ JNQSFTTJPO PG UIF àMN #VU .BOEZ .PPSF BT .JMMZ JT DIBSNJOH JG OPU TPNFXIBU BCSBTJWF BOE -BVSFO (SBIBN PG (JMNPSF (JSMT GBNF

BT .BHHJF EPFT B àOF KPC JO IFS CJH TDSFFO EFCVU 0WFSBMM UIJT JT OPU B àMN UP SFNFNCFS 5PNPSSPX ZPV XJMM OPU SFDBMM B TJOHMF MJOF BOE UXP XFFLT GSPN OPX ZPV NBZ WFSZ XFMM GPSHFU ZPV FWFS XBUDIFE JU #VU BT BO FTDBQJTU HVJMUZ QMFBTVSF JU XPSLT XFMM 0OF PG UIF NBJO QMFBTVSFT PG UIF DJOFNB JT XBUDIJOH SJEJDVMPVTMZ

CCFBVUJGVM QFPQMF EPJOH SJEJDVMPVTMZ CJ[BSSF UIJOHT BMMPXJOH VT UP CF KFBMPVT BOE TVQFSJPS BU UIF TBNF UJNF &WFSZ TJOHMF QFSTPO JO UIJT NPWJF JT HPSHFPVT BOE UIFZ BMM BDU MJLF CMPDLIFBET i#FDBVTF * 4BJE 4Pu IBT JUT PXO QBSUJDVMBS DIBSN CVU OFWFS NBOBHFT UP TVSNPVOU UIF iQMFCJBO DIJDL áJDLu MBCFM "ZB ,JSMJVL

i0WFSBMM UIJT JT OPU B mMN UP SFNFNCFS w

4VS -B 5SBDF % *HPS 3J[[J 0O UIF 5SBJM PG *HPS 3J[[J

4UBSSJOH -BVSFOU -VDBT 1JFSSF -VD #SJMMJBOU &NNBOVFM #JMPEFBV 8SJUUFO %JSFDUFE 1SPEVDFE CZ /PÌM .JUSBOJ

B-

" QSPGFTTJPOBM TPDDFS QMBZFS àOET IJT MJGF TIBUUFSFE BGUFS UIF EFBUI PG B MPWFS +FBO .BSD -BVSFOU -VDBT MPTFT BMM IJT NPOFZ JO SJTLZ JOWFTUNFOUT BOE HJWFT VQ

TPDDFS UP TFFL TPMBDF BOE RVJFU IJT JOOFS UVSNPJM CZ JOIBCJUJOH UIF BSFB JO XIJDI IJT MPTU MPWF HSFX VQ m.POUSFBM 2VFCFD 8F MFBSO WFSZ RVJDLMZ UIBU IJT OFX QSPGFTTJPO JT

OFXTQBQFS /FXT &EJUPS /JU[BO 3PUFOCFSH "TTPDJBUF &EJUPS :VWSBK +PTIJ

"SUT &EJUPS +PF ;BCVLPWFD .BOBHJOH &EJUPS 4FBO -JMJBOJ

$POUSJCVUPST 3PTFOB 'VOH +BLF ,FBUJOH 4UFQIFO /PUMFZ "EBN .BSJFO 3BNZB +FHBUIFFTBO 5JNPUIZ 3ZBO .JDIFMMF 3VODI "ZB ,JSJMJVL /JS 3PUFOCFSH 'BSIFFO 4IBJLI 4UFWFO #PSPXJFD 'SJFEB "VESFZ -VL &NJMZ 4IFMUPO /PBNBO "MJ UIF OFXTQBQFS฀JT UIF 6OJWFSTJUZ PG 5PSPOUP T DPNNVOJUZ OFXTQBQFS BOE JT QVCMJTIFE XFFLMZ CZ 1MBOFU 1VCMJDBUJPOT *OD B OPO QSPàU DPSQPSBUJPO $POUSJCVUJPOT BOE MFUUFST BSF XFMDPNF GSPN BMM 6 PG 5 DPNNVOJUZ

4QBEJOB $SFTDFOU 4VJUF 5PSPOUP 0OUBSJP . 4 " UIFOFXTQBQFS!HNBJM DPN

FEJUPSJBM GBY

SBUIFS TIBEZ BOE TMPQQJMZ EPOF 8IFO IF BOE IJT BDDPNQMJDF .JDIFM 1JFSSF -VD #SJMMJBOU BSF JO UIF QSPDFTT PG SPCCJOH BO BQBSUNFOU PG JUT FMFDUSPOJDT UIFZ EJTDPWFS UIBU UIF DIJMESFO BSF JO UIF IPVTF BOE BSF GPSDFE UP TDVSSZ BXBZ MJLF GSJHIUFOFE NJDF 4IPSUMZ BGUFS +FBO .BSD SFBMJ[FT UIBU IF IBT NJTQMBDFE IJT XBMMFU BOE UIFZ BSF GPSDFE UP SFUVSO BOE GBDF UIF DIJMESFO 5IFSF BSF NBOZ QBSUT PG UIF àMN UIBU TLJSU UIF CPVOEBSJFT PG IVNPVS CVU UIJT JT OP DPNFEZ +FBO .BSD JT IBVOUFE OJHIUMZ CZ WJTJPOT PG IJT EFBE HJSMGSJFOE BOE EBJMZ CZ IPX IF USFBUFE IFS VMUJNBUFMZ IF CMBNFT IJNTFMG GPS IFS EFNJTF )F JT TPPO DPOUSBDUFE UP LJMM B NBO m*HPS 3J[[J BOE BHSFFT EP UIF EJSUZ EFFE GPS XIJDI JT UIFO MPXFSFE UP B NFSF )F JT HJWFO B HVO B EBUF PG DPNQMFUJPO BOE B CSJFG MFTTPO PO IPX UP TIPPU GSPN .JDIFM XIP DMBJNT UP IBWF LJMMFE CFGPSF )F T SFTDVFE GSPN IJT EPXOXBSE TQJSBM XIFO IF FYQFSJFODFT BOPUIFS WJTJPO JO XIJDI IJT FY MPWFS FYQMBJOT UIBU TIF MM CF IBQQZ BT MPOH BT IJT MJGF IBT NFBOJOH 5IF NPWJF JT PGUFO GSVTUSBUJOH +FBO .BSD JT JO OFFE PG NPOFZ GPS GPPE BOE SFOU BOE VQ

VOUJM IF EFDJEFT UP CFDPNF B IJU NBO IF DIPPTFT UP CBSFMZ TVSWJWF CZ DPNNJUUJOH QFUUZ TPNFXIBU TVDDFTTGVM DSJNFT )F SFDFJWFT OP KPZ BOE MJUUMF FDPOPNJD QSPTQFSJUZ 4P XIZ OPU KVTU HFU B KPC BU 8BM .BSU )F E NBLF KVTU BT NVDI NPOFZ BOE DPVME XBMMPX JO IJT QPPM PG TFMG QJUZ BU UIF TBNF UJNF 1SPCBCMZ UIF NPTU JOUFSFTUJOH BTQFDU PG UIF NPWJF JT +FBO .BSD BOE .JDIFM T SFMBUJPOTIJQ 5IFZ TQFOE B TJHOJàDBOU BNPVOU PG UJNF UPHFUIFS CVU CBSFMZ FWFS TQFBL 8IFO UIFZ EP UIFJS XPSET BSF PGUFO TVQFSáVPVT ZFU UIFZ TUJMM NBOBHF UP IBOH PVU BU +FBO .BSD T IPVTF HP GPS B NJOJ KPH BOE UIFSF T POF QPJOU XIFSF .JDIFM SFTUT IJT BSN PO +FBO .BSD T TIPVMEFST MJLF UIFJS PME CBS CVEEJFT *U T B WFSZ JOUSJHVJOH SFMBUJPOTIJQ BOE * TUSVHHMFE UP EFDJEF IPX DMPTF UIFZ BDUVBMMZ XFSF 5IJT JT OPU B NVTU TFF NPWJF ZPV MM MJWF XJUIPVU JU *G ZPV IBWF B DIBODF BOE BO IPVS BOE B IBMG UIFO UISPX JU PO 'JSTUMZ JU T $BOBEJBO BOE XF TVQQPSU PVS PXO 4FDPOEMZ JU T B UPVHI NPWJF UP ESBX B DPODMVTJPO PO * MM BENJU UIBU UIF i# i MPDBUFE UPXBSE UIF CFHJOOJOH PG UIJT SFWJFX JT OPU B DPOàEFOU HSBEF %FDJEF GPS ZPVSTFMG +;

+PF T 5IPVHIU PG UIF 8FFL 4/08 *4 $0-%

฀ ฀

฀

,SJTUJO 8BMMBDF MFGU BOE +FO 1PHVF SJHIU TUBS JO 5SJáFT

/PU +VTU 5SJnFT -JWFT 6Q UP *UT /BNF 5IF (SBEVBUF $FOUSF GPS 4UVEZ PG %SBNB SFDFOUMZ IPTUFE /PU +VTU 5SJáFT "O &WFOJOH PG 5XP 0OF "DU 1MBZT JO UIF 3PCFSU (JMM 5IFBUSF 5IF OJHIU CFHBO XJUI (XFO 1IBSJT 3JOHXPPE T CSJMMJBOUMZ FYFDVUFE 4UJMM 4UBOET UIF )PVTF B TUPSZ BCPVU #SVDF 8BSSFO 3PCFSU 'VMUPO

XIP àOBMMZ BHSFFT UP HJWF VQ IJT GBNJMZ T TUPSJFE IPVTF BOE MBOE GPS IJT XJGF 3VUI T #BSCBSB -BJOH TBLF XIFO DJUZ NBO "SUIVS .BOOJOH 5PCZ .BMPOF NBLFT IJN BO PGGFS )PXFWFS #SVDF T FBTJMZ EFTQJTFE TJTUFS )FTUFS $PVSUOFZ $BVUIPO

SFGVTFT UP NPWF GSPN UIF IPVTF BOE JUT IBMMPXFE NFNPSJFT "T B SFTVMU TIF LOPXJOHMZ TFOET #SVDF BOE IJT XJGF UP UIFJS EFBUIT JO UIF GSJHJE OJHIU 5IF GFBUVSF PG UIJT QMBZ XBT

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áFT 4FU JO .JEXFTUFSO "NFSJDB 5PXO 4IFSJGG )FOSZ 1FUFST 5SFWPS 1FBTF BOE "UUPSOFZ (FPSHF )FOEFSTPO .BMPOF JOWFTUJHBUF UIF NVSEFS PG B GBSNFS CZ IJT CZ XJGF 8IJMF UIFZ USBNQMF UIF DSJNF TDFOF TFBSDIJOH GPS DMVFT UIF XPNFO EJTDPWFS CJUT PG FWJEFODF JO UIF AAUSJáFT PG B GBSNFS T XJGF IFS CBLJOH DMFBOJOH BOE TFXJOH #FDBVTF UIF NFO

WJSUVBMMZ JHOPSF UIF XPNFO T XPSME UIFZ SFNBJO CMJOE UP UIF TPMVUJPO UIBU MBZ CFGPSF UIFJS FZFT 5SJáFT FYQMPSFT B OVNCFS PG UIFNFT SFMFWBOU UP UIF MJWFT PG XPNFO JO UIF FBSMZ UI DFOUVSZ ZFU UIFZ BSF TUJMM WFSZ BQQMJDBCMF UPEBZ *U EJTQMBZT UIF TFQBSBUJPO XPNFO FYQFSJFODFE JO JTPMBUFE SVSBM DPNNVOJUJFT XIFO FGàDJFOU BOE BGGPSEBCMF USBWFM BOE DPNNVOJDBUJPO NFUIPET XFSF OPO FYJTUFOU *U JMMVTUSBUFT UIF QSPUFDUJWF BUUJUVEF PG NFO XJUI AUIFJS XPNFO BOE UIFJS XPSL BOE UIF XBZ GFNBMF CPOEJOH BTTJTUT JO UPMFSBUJOH UIJT MJGFTUZMF "MUIPVHI OPU BT HSJQQJOH PS FOUFSUBJOJOH BT UIF GPSNFS QMBZ 5SJáFT PGGFSFE UIF QFSGFDU QBSUOFS QJFDF GPS 4UJMM 4UBOET UIF )PVTF #PUI FYBNJOF UIF MJWFT PG JTPMBUFE XPNFO JO SVSBM DPNNVOJUJFT BOE UIJT JT FNQIBTJ[FE CZ TUBHJOH CPUI QMBZT JO B TJOHMF IPVTF TFU 5IF UXP BSF XFMM EJTUJOHVJTIFE CZ TFU BOE MJHIUJOH EFTJHOFST ,FMMZ 8PMG BOE "MFLTBOESB 1PECFSFTLJ SFTQFDUJWFMZ

VTJOH GVSOJUVSF QMBDFNFOU BOE TFBTPOBM DIBOHFT UIF EBSL XJOEZ CMJ[[BSE DPOUSBTUJOH UIF XBSN SFE TVOTFU /PU +VTU 5SJáFT JT SVOOJOH UISPVHI 'FCSVBSZ UI BU UIF 3PCFSU (JMM 5IFBUSF

#FBUMFNBOJB "HBJO

5IF #FBUMFT BSF USBJMCMB[FST JDPOT BOE MFHFOET OFBSMZ FWFSZPOF DBO SFNFNCFS BU MFBTU POF PG UIF CBOE NFNCFST OBNFT BOE DBO QSPCBCMZ IVN BMPOH UP UIF TPOHT 5IF #FBUMFT &YQFSJFODF 3BJO HJWFT GBOT QBTU BOE QSFTFOU UIF PQQPSUVOJUZ UP FJUIFS SFMJWF UIF FYQFSJFODF PG TFFJOH 5IF #FBUMFT MJWF PS HJWF UIPTF B DIBODF UP TFF UIFN GPS UIF WFSZ àSTU UJNF .Z LOPXMFEHF PG 5IF #FBUMFT JT GBJSMZ MJNJUFE TVSF * LOPX TPNF TPOHT UIBU * IFBSE BSPVOE UIF IPVTF XIJMF HSPXJOH VQ CVU * XBT EFàOJUFMZ OPU QBSU PG UIF #FBUMFNBOJB EVSJOH UIF NJE

5JNPUIZ 3ZBO

,FWJO %FWJOF BOE UIF (PEEBN #BOE

T 4P * EFDJEFE UP CSJOH JO UIF #FBUMFNBOJB NBTUFS NZ NPUIFS *O B ZPVOH HJSM T ESFBN DBNF USVF .Z NPUIFS DBMMFE JOUP B SBEJP TUBUJPO BOE XPO UJDLFUT UP TFF IFS GBWPSJUF CBOE 5IF #FBUMFT 5IF DSPXE XBT SPBSJOH CSJHIU MJHIUT GSPN DBNFSBT XFSF CMJOEJOH UIF TUBHF BOE UIPVHI UIF ZPVOH HJSM TBX +PIO 3JOHP 1BVM BOE (FPSHF JO UIF áFTI TIF OFWFS SFBMMZ GFMU UIBU TIF IBE UIF USVF #FBUMFT FYQFSJFODF 6OUJM OPX "T UIF MJHIUT EJNNFE JO UIF )VNNJOHCJSE 5IFBUFS UXP MBSHF TDSFFOT PO FJUIFS TJEF PG UIF TUBHF QSPKFDUFE CMBDL BOE XIJUF JNBHFT PG PCTFTTFE ZPVOH HJSMT TDSFBNJOH BOE TIBLJOH GFODFT BT 5IF #FBUMFT TUFQQFE PGG UIF QMBOF BOE CFHBO UIF #SJUJTI JOWBTJPO JO UIF 6OJUFE 4UBUFT 5IF DVSUBJOT QVMMFE PQFO BOE UIFSF TUPPE NZ NPUIFST QBTU 5IF #FBUMFT PO TFU PG UIF &E 4VMMJWBO 4IPX PO UIBU IJTUPSJD OJHIU XIFSF UIFZ àSTU BQQFBSFE PO "NFSJDBO UFMFWJTJPO %SFTTFE BMJLF XJUI UIPTF FWFS TP QPQVMBS #FBUMFT IBJS DVUT TVJUT BOE CPPUT UIF DSPXE CFHBO UP DIFFS BT UIF àSTU CBTFMJOF LJDLFE JO .Z NPUIFS KVTU LFQU TBZJOH i:PV DBO BDUVBMMZ IFBS UIFN 5IJT JT XPOEFSGVM u 5IFSF XBT B RVJDL TFU DIBOHF BT UIF TDSFFO QMBZFE B IVNPSPVT T DPNNFSDJBMT BCPVU TIBNQPP BOE EFUFSHFOU #VU UIFO PVU DBNF 3BJO BU 4IFB 4UBEJVN TJOHJOH TPOHT GSPN UIFJS

NPWJF FSB i" )BSE %BZT /JHIUu UIF MJWF WJEFP GFFE QSPWJEFT UIF DSPXE XJUI DMPTF VQT PG UIF CBOE BT XFMM BT UIF GBOT EBODJOH BMPOH UP UIF HPPE WJCSBUJPOT JO 5IF )VNNJOHCJSE 5IF OFYU UISFF TFUT UIF 4HU 1FQQFS &SB 'MPXFS 1PXFS i4VNNFS PG -PWFu BOE UIF JOGBNPVT "CCFZ 3PBE XFSF VOJRVF JO UIBU EVSJOH UIJT UJNF 5IF #FBUMFT OFWFS QFSGPSNFE MJWF TP JU XBT TPMFMZ MFGU VQ UP UIF VOJRVF JNBHJOBUJPOT PG 5IF 3BJO NFNCFST +PFZ $VSBUPMP 4UFWF -BOEFT +PF #JUIPSO 3BMQI $BTUFMMJ BOE .BSL -FXJT UP DPNF VQ XJUI DPTUVNFT BOE QFSTPOBT GPS UIF GPVS CBOE NFNCFST "T UIF UJNF TFFNFE UP TQFFE CZ UIF DSPXE TMPXMZ ESFX UP UIF GSPOU PG UIF UIFBUFS GPS B DMPTFS MPPL BU UIBU CBOE UIBU UIFZ OFWFS UIPVHIU UIF XPVME TFF UPHFUIFS BHBJO " GFX HJSMT IPQQFE PO TUBHF LJTTJOH (FPSHF PS +PIO XIJDIFWFS UIFZ DPVME HFU UIFJS IBOET PO BT TFDVSJUZ TVCUMFUZ QVMMFE UIFN PGG UIF TUBHF USVMZ NBLJOH UIJT 5IF #FBUMFT &YQFSJFODF 5IJT QFSGPSNBODF JT GPS FWFSZPOF JG ZPV BSF B IVHF GBO PG 5IF #FBUMFT PS KVTU LOPX B GFX TPOHT ZPV XJMM CF TVSF UP FOKPZ 3BJO NPSF UIBO B USJCVUF CBOE SBUIFS B QVSFMZ FOUFSUBJOJOH BOE VOQBSBMMFMFE FYQFSJFODF .JDIFMMF 3VODI

i:PV DBO TUBZ CBDL UIFSF JG ZPV XBOU CVU ZPVS GBDFT BSF POMZ HPJOH UP NFMU GSPN UIF '6$,*/( 30$, 4)08 &91-04*0/ w On Monday, January 29th Kevin Devine and the Goddam Band came to Lee’s Palace to perform. Having released Put Your Ghost to Rest at the end of last year he is currently in tour mode and I was lucky enough to see him when he came to Toronto. I had seen him previously last summer when he opened up for Corinne Bailey Rae and Gran Bel Fisher. However, he played solo during that tour with only one or two members of the Goddam Band onstage with him.

This time around the tour is his and the full band was assembled in all

its glory.

He started of the set by asking members of the audience to crowd the stage. “You can stay back there if you want but your faces are only going to melt from the FUCKING ROCK SHOW EXPLOSION!” Not a big man by any means, Mr. Devine is in complete control of the stage every second he’s on it. His energy, passion, and vocal dynamics set him apart from any John Mayer or Jack Johnson; finally, a guy with a guitar can have a pair.

The set lasted an hour and

a half and towards the end the band left the stage and Kevin put down his electric guitar to grace us with a smaller acoustic set. While Lee’s Palace may not have been sold out everyone in there sang along to the majority of his songs.

You know how good the show was? I bought a shirt and let me tell you this: I’m fucking cheap.

I have never bought a band’s t-shirt in my entire life, but on Monday, January 29th, Kevin Devine deserved my $20. +;

฀

฀

฀ ฀

฀

฀ ฀

฀ ฀

'PS 3FOU charming, spacious 3 bedroom

with fireplace,deck,parking. AC, dishwasher, washer and dryer. $2400+ Bathurst and Bloor available March 1st Karen 416-885-7957 ,FWJO QMBZJOH B GFX BDPVTUJD UVOFT TBOT UIF CBOE฀

,FWJO %FWJOF BOE UIF (PEEBN #BOE JNQSFTTJOH FWFSZ BVEJFODF NFNCFS

#BDLQBHF

฀

$PNJDT

฀ ฀

4PBQCPY

#Z 3PTFOB 'VOH

" 5SFBUJTF $PODFSOJOH UIF 1SJODJQMFT PG )VNBO ,OPXMFEHF

#Z +BLF ,FBUJOH

* MM 4VEPLV :PV 5IJT 8FFL T 4VEPLV

-BTU 8FFL T 4PMVUJPO

#PC UIF "OHSZ 'MPXFS

#Z 4UFQIFO /PUMFZ