3/4/12 Angola Pennysaver

Page 1

!.'/,! 0%..93!6%2

$OVR FRYHULQJ 'HUE\ %UDQW )DUQKDP DQG 3DUWV RI ,UYLQJ DQG /DNHYLHZ

$1*2/$ 2)),&( 3 2 %R[ &HQWHU 6W $QJROD 1 < )$; '(5%< 2)),&( (ULH 5G 7RSV 3OD]D 'HUE\ 1 < )$; :HEVLWH ZZZ VRXWKWRZQVSHQQ\VDYHU FRP ( PDLO DGV#DQJRODSHQQ\VDYHU FRP

(ULH 5G (9$16

(ULH 5G '(5%<

1RUWK 0DLQ 6WUHHW $1*2/$

6RXWK 3DUN $YH +$0%85*

&RPPXQLW\ &RUQHU

0$5&+ UG <HDU QG :HHN &LUFXODWLRQ

6XQGD\ 0DUFK &+,&.(1 %%4 7+(0( %$6.(7 5$))/( (DW LQ RU WDNH RXW %UDQW )LUH +DOO 5WH 6SRQVRUHG E\ )LUH &R /DGLHV $X[LOODU\ 7XHVGD\ 0DUFK RU 7KXUVGD\ 0DUFK '$9( 5$06(< ),1$1&,$/ 3($&( &/$66(6 S P 6W -RKQ V /XWKHUDQ &KXUFK *ROG 6W $QJROD 5693 0D[LQH 6SDFH GRQDWHG E\

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

&/$''$*+ &200,66,21 ,1&

)7 3RVLWLRQV $YDLODEOH 7HDP 0DQDJHU 2YHUQLJKW 6XSHUYLVRU &ODGGDJK LV D QRW IRU SURILW KXPDQ VHUYLFH DJHQF\ UHFRJQL]HG IRU TXDOLW\ WKDW LV ORFDWHG LQ WKH VRXWKHUQ WLHU RI :1< 5HVSRQVLELOLWLHV RI WKLV SRVLWLRQ LQFOXGH ‡ 7HDP 0DQDJHU LV UHVSRQVLEOH IRU GD\ WR GD\ RSHUDWLRQV DQG SURWHFWLYH RYHUVLJKW RI SURJUDP VLWHV VXSHUYLVHG GLUHFW VXSSRUW VWDII 0DLQWDLQV RSHQ FRPPXQLFDWLRQ ZLWK 6HUYLFH &RRUGLQDWRU 51 IDPLOLHV HWF $VVLVWV LQGLYLGXDOV WRZDUGV DFKLHYLQJ FKRVHQ YDOXHG RXWFRPHV LQ ,63 ‡ 2YHUQLJKW 6XSHUYLVRU LV UHVSRQVLEOH IRU WKH RYHUQLJKW RSHUDWLRQ DQG SURWHFWLYH RYHUVLJKW RI DOO UHVL GHQWLDO VLWHV GLUHFWV RYHUQLJKW GLUHFW FDUH VWDII $VVLVWV LQ WUDLQLQJ RI QHZ HPSOR\HHV 'LUHFWV VWDII ZLWK FRPSOH WLRQ RI WKHLU MRE UHVSRQVLELOLWLHV DQG GXULQJ VLWXDWLRQV 5HTXLUHPHQWV %DFKHORU¶V GHJUHH LQ D +XPDQ 6HUYLFH UHODWHG ILHOG RU $$ 'HJUHH LQ +XPDQ 6HUYLFHV RU 5HODWHG $UHD SOXV <HDUV RI 5HODWHG ([SHULHQFH :LOO FRQVLGHU DSSOLFDQWV ZLWK D FRPELQDWLRQ RI +LJK 6FKRRO 'LSORPD DQG UHODWHG H[SHULHQFH ZLWK 23:'' SURJUDP &RPSOHWLRQ RI $JHQF\ 0DQDJHPHQW 7UDLQLQJ 9DOLG 1HZ <RUN 6WDWH 'ULYHU¶V /LFHQVH $33/< ,1 3(5621 (ULH 5RDG 'HUE\ 1< 0 ) D P S P (2(

(ODLQH 8UEDQRZLF] /LFHQVHG 6DOHV $JHQW

&HQWXU\ *DQH\ &DOO PH DW

(ODLQH VDJHU#FHQWXU\ FRP

2IILFH

23(1 +286( 6XQGD\ SP 6WHIIL 'U EHGURRP UDQFK RQ D FRUQHU ORW 3DUWLDOO\ ILQLVKHG IXOO EDVHPHQW ZLWK WRQV RI VWRUDJH VSDFH FDU GHWDFKHG JDUDJH &RPH WDNH D ORRN

'($'/,1( 7+856'$< $7 1221

&(5$0,& +DUGZRRG )ORRUV ,QVWDOOHG DQG 5H ILQLVKHG /DPLQDWH 3ODV WHULQJ 'U\ZDOO 3DLQWLQJ DQG :DOOSDSHU 6SUD\HG 7H[WXUHG &HLOLQJV %DVH PHQWV 6WHYH )25 6$/( '(5%< +RW RQ WKH 0DUNHW 0RYH ULJKW LQ EHGURRP EDWK HDW LQ NLWFKHQ DQG URRP\ OLYLQJ URRP FDUSRUW VKHG 75,721 RU

/$.(6+25( <287+ 62&&(5 5(*,675$7,21 *R WR ::: /$.(6+25(62&&(5 1(7 :DON LQ 5HJLVWUDWLRQ DW 6W -RKQ /XWKHUDQ &KXUFK 21 *2/' 675((7 ,1 $1*2/$

0$5&+ TH $0 TO 30

/<11n6 &$7(5,1* &$.(6

)XOO 0HQX IRU %UXQFK /XQFK 'LQQHU +RU¶GRXYUHV SDUW\ WUD\V SLHV FRRNLHV 'HFRUDWHG FDNHV IRU DOO RFFDVLRQV &DOO PH IRU PRUH LQIRUPDWLRQ $1*2/$ 35,&(' 72 6(// 5RRP\ EHG URRP EDWK HDW LQ NLWFKHQ IRUPDO GLQLQJ URRP VSDFLRXV OLYLQJ URRP ZLWK ILUHSODFH JDV RU ZRRG &RYHUHG SRUFK DZQLQJ VKHG 75,721 RU

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

&+,&.(1 %%4 7KHPH %DVNHW 5DIIOH

VSRQVRUHG E\ %5$17 92/ ),5( &2 DQG /$',(6 $8; DW WKH %UDQW )LUH +DOO 5WH

681'$< 0$5&+ WK

1RRQ WLOO 6(//287

3(5 ',11(5 ($7 ,1 25 7$.( 287

7KH 7UHH 6XUJHRQ

&RPSOHWH 7UHH 6HUYLFH 7ULPPLQJ )LUHZRRG 5HPRYDO 6QRZSORZLQJ 6WXPS *ULQGLQJ 6WRUP 'DPDJH )UHH (VWLPDWHV )XOO\ ,QVXUHG &$53(7 $1' 3$' :KROHVDOH SULFHV $OVR ODPLQDWHV DQG OLQRV %HVW SULFHV LQ : 1 < )UHH HV WLPDWHV 7,0 0853+< 6287+72:16 $,5 3257 6(59,&( 'RRU WR GRRU VHUYLFH WR WKH %1,$ 5HDVRQDEOH UDWHV &DOO

%$6.(7 '5$:,1* 3 0 6+$53

6$7 0$5&+ 7+ ‡ WR 5HJLVWHU

5DLOURDG $YHQXH ‡ 1RUWK &ROOLQV 1< ZZZ OJVQ\ FRP 48,(7 $5($ 2) 681 6(7 %$< 1HZO\ UHPRG HOHG PRQWK SOXV XWLOLWLHV 1R 3HWV 1R 6PRNLQJ

&20387(5 %52.(" :H GR KRXVH FDOOV 6DOHV VHU YLFH XSJUDGHV $OO ZRUN JXDUDQWHHG &DOO 3& %8,/'(56

.,1* %8))(7 FF 5IO ;H !;N +P?L %N?GM ;CFS

:HOFRPH &DVLQR 9LVLWRUV 7RZQ +DOO 3OD]D 6 3DUN $YH +DPEXUJ

7HO )D[

/J?=C;F ,LIGINCIH 2)) <285 )22' %,//

2QH FRXSRQ SHU SDUW\ &RXSRQV PD\ QRW EH FRPELQHG ZLWK DQ\ RWKHU RIIHU ([SLUHV

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

,17(5,25 3$,17,1* 5HVLGHQWLDO FOHDQLQJ HVWDWH FOHDQXSV , KDYH PDQ\ \HDUV H[SHULHQFH DQG DP D KDUG ZRUNHU , FDQ GR WKH ZRUN P\VHOI RU EULQJ D FUHZ &DOO 7KRP )/25,'$ &$56 5XVW IUHH &DOO '$9( %$//

(5,( 5' '(5%< 7RSV 3OD]D

021 )5, 6$7 1221

:( +$9( 029(' &RPH YLVLW XV DW RXU

LQ 7RSV 3OD]D

:H 6HOO 6DIHV

6&5$7&+ '(17 6$/( 21 $// ,1 672&. 6$)(6

&20387(5 &+,3 $872027,9( .(<6 6DWHOOLWH 2IILFH IRU $QJROD (GHQ 1RUWK &ROOLQV 3HQQ\ 6DYHUV 0RQGD\ 7KXUVGD\ 6HUYLQJ <28

)$;

$1*2/$ 3(11<6$9(5 0$5&+

6W 3DWULFN·V 'D\ 'LQQHU 6XQGD\ 0DUFK 30 0RVW 3UHFLRXV %ORRG &KXUFK 3DULVK +DOO 3URVSHFW 6W $QJROD SHU SHUVRQ LQFOXGHV ‡ FRUQHG EHHI GLQQHU RU UHXEHQ VDQGZLFK ‡ FRIIHH WHD VRIW GULQNV GHVVHUWV ‡ OLYH PXVLF E\ WKH 3DQILO %URWKHUV

&+,&. 6 /$1(6

&DOO IRU RSHQ ERZOLQJ WLPHV

0221/,*+7 %2:/,1* (YHU\ 6DWXUGD\ DW S P (QMR\ D &KLFN V 3L]]D ZKLOH \RX ERZO RU DQ\WLPH 3L]]D 6XEV :LQJV &DOO 7DNH RXW RU GHOLYHU\

,W 3D\V 7R $GYHUWLVH

&DVK EDU EHHU ZLQH DYDLODEOH 7DEOHV RI HLJKW RU PRUH FDQ EH UHVHUYHG )RU WLFNHWV RU PRUH LQIRUPDWLRQ FDOO

(/(&752/<6,6 5H PRYDO RI XQZDQWHG KDLU SHUPDQHQWO\ 5HDVRQ DEOH UDWHV 6DWLVILHG FOL HQWV 4XDOLILHG H[SHUL HQFHG HOHFWURORJLVW 5HJ LVWHUHG SURIHVVLRQDO QXUVH 5HIHUUHG E\ SK\VL FLDQV 0HPEHU RI ,QWHUQD WLRQDO *XLOG RI 3URIHV VLRQDO (OHFWURORJLVWV &DOO -($11(77( ))))))))))))))))))))))))))))))))))))))))))) )$662 75(( 6(59,&( 7UHH WULPPLQJ DQG UH PRYDO IRXQGDWLRQ UHSDLU GHPROLWLRQ &+5,6 )$662 )))))))))))))))))))))))))))))))))))))))))))

9): 3267 0$5&+ WK SP

0XVLF E\

&RXQWU\ 0HPRULHV )5(( %8))(7 9): 3267 (5,( 5' $1*2/$ 1< (7+$12/ LQ \RXU JDVR OLQH LV KDUPLQJ \RXU VPDOO HQJLQHV *8*,12 /$:1 *$5'(1 KDV WKH VROXWLRQ 67$5 7521 ORZ FRVW IXHO DG GLWLYH H[WHQGV HQJLQH OLIH %UDQW 5HVHUYDWLRQ 5G %UDQW 0 ) 6DW QRRQ

'($'/,1( 7+856 $7 1221

12: +,5,1* DOO VKLIWV $SSO\ 7RQ\¶V %D\YLHZ /DNHVKRUH 5RDG %ODVGHOO )25 5(17 3RLQW %UHH]H 6PDOO EHGURRP KRXVH EDWK $OO DSSOLDQFHV LQ FOXGLQJ ZDVKHU GU\HU 1R EDVHPHQW 8WLOLWLHV QRW LQFOXGHG 6KDUH JD UDJH )LUVW ODVW DQG VHFXULW\

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

7 KH O JLQD 2UL

0$5&+

"N=UIEHHAN -=NGAP )J? *2:$1'$ 67$7( 5' 57

+$0%85*

)LQHVW /DUJHVW 6HOHFWLRQ RI )UXLWV 9HJHWDEOHV LQ : 1 < 23(1 $// <($5 '$<6 $ :((. :,17(5 +2856 0 ) 6DW 6XQ 3ULFHV HIIHFWLYH ZZZ EUD\PLOOHUPDUNHW FRP )$;

*DUGHQ )UHVK

%52&&2/, &52:16 &

,&(%(5* /(778&(

OE $OO 3XUSRVH

'HOLFLRXV 5RPD

3/80 720$72(6

OE $OO 3XUSRVH

6QDSSLQJ )UHVK

1RYHOWLHV

6ZHHW &UXQFK\

6(('/(66 *5$3(6

EDJ

)DUP )UHVK ([ ODUJH GR] (

(**6

'HOLFLRXV -HOO\ %HDQV

1$9(/ 25$1*(6

OE &HOOR &$55276

EDJ

8SVWDWH DOO YDULHWLHV

<2*857

9,1 &+(76 %LVRQ R] *OXWHQ )UHH 5HJ 5HGXFHG )DW %DNHG *RRGV

&+,3 ',3

'HOLFLRXV )UHVKO\ PDGH

3$57< 77(56 3/$ 3/$77(56

‡ 0($7 &+((6(‡$33(7,=(5‡9(**,(‡)58,7 *RUJHRXV )UHVKO\ PDGH

)58,7 6 %$6.(7 %$6.(76

‡&+((6( 75$<6‡%8))$/2 %$6.(76 ‡3$67$ %$6.(76 :H 'HOLYHU

%($87,)8/ 3/$176

^

HDFK

-XLF\ 6ZHHW 6XQNLVW

SRXQG

&

&

&22.,1* 21,216

KHDG

:+,7( 327$72(6

0,/.

'HOLFLRXV 6ZHHW -80%2

&

SRXQG

8SVWDWH JDO 6NLP

&$17$/283(6

&DOLIRUQLD

SRXQG

^ BCJG

6JCOTQEMU 3TKOTQUG $UUQTVGF +GTDU )TGUJ &WV %QWSWGVU

+27 /81&+ 63(&,$/6 681'$< *ULOOHG +DP &KHHVH 021'$< &KLFNHQ %LVFXLWV 78(6'$< 3RW 5RDVW :('1(6'$< 9HJJLH /DVDJQD 7+856'$< 7XUNH\ 'LQQHU Z VWXIILQJ )5,'$< 3ROLVK 6DXVDJH Z .UDXW DQG 3LHURJLHV 6$785'$< &KLFNHQ &DHVDU :UDS 681'$< 5RDVW %HHI :UDS

63(&,$/ RI WKH :((. ´&2/' 3/$7(µ &KLFNHQ 6DODG 7XQD 6DODG )UXLW 6DODG &RWWDJH &KHHVH ZLWK SHDFKHV

+

($

7\VRQ ([WUD /HDQ

52$67 %(()

([HFXWLYH &KHI 2YHQ 5RDVWHG

785.(< 6PLWK·V

SRXQG

SRXQG

+$0 RII WKH %21(

+XQVHOERFN

7+85,1*(5 0DUJKHULWD ´+27µ

$9$,/$%/( &$33,&2/$ '$,/< *UHDW /DNHV 6283 RI WKH :((. 6:,66

)5(1&+ 21,21

&+((6(

SRXQG

SRXQG

SRXQG

SRXQG

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

3$8/ $ 6+($ )LQH ZRRGZRUNLQJ DQG ILQLVK LQJ IXUQLWXUH UHVWRUDWLRQ FXVWRP FDELQHWV DQG UH SDLUV

'8,1. )$506 *UDVV 68(7 „ HDFK IHG IUHH]HU $QJXV EHHI 0XVW EX\ 6HH %DFN 3DJH 7DNLQJ RUGHUV IRU IDOO %(//$ 7(55$ GHOLYHU\ 0RUH LQIRUPDWLRQ *5((1+286(

12: +,5,1* ([SHUL HQFHG *ULOO 3HUVRQ $SSO\ LQ SHUVRQ 683(5 )5((=( '5,9( ,1 (ULH 5G 'HUE\ )25 5(17 /DUJH DSDUW PHQW (ULH 5G 'HUE\ ò EDWK RQH EHGURRP PRQWK LQFOXGHV DOO XWLOLWLHV )5(( &/($1 83 DQG UHPRYDO $OVR GHPR 6RPH UDWHV PD\ DSSO\ &DOO -(:(/5< %< 63(1&( EX\V JROG GLDPRQGV DQG ZDWFKHV

-81. &$56 :$17 (' )UHH SLFNXS &DVK SDLG 7,00< 5(*$1 72:,1* '09 75$&7256 DUH UROOLQJ LQ DQG ZH¶UH FOHDU LQJ RXW RXU V %X\ QRZ JHW IUHH OD\DZD\ XQWLO 6SULQJ *8*,12 /$:1 *$5'(1 %UDQW 5HVHUYDWLRQ 5G %UDQW 6+2:'2* +$1'/,1* &/$66(6 6RXWKWRZQV 'RJ 7UDLQLQJ &OXE

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

21( '(17,67 21( 5(68/7 &HQWHU 6WUHHW LQ $QJROD 1H[W GRRU WR WKH $QJROD 3HQQ\6DYHU

3KRQH

*(1(5$/ '(17,675< ,03/$17 '(17,675< )25 5(17 EHGURRP DSDUWPHQW 3RLQW %UHH]H 'ULYH /DXQGU\ URRP KRRNXSV SOXV XWLOL WLHV DQG VHFXULW\ 12 GRJV ([FHOOHQW UHIHU HQFHV D PXVW &DOO -LP /HDYH PHV VDJH '2* 2%(',(1&( 75$,1,1* IRU WKH EHVW SHW RU VKRZGRJ 6RXWK WRZQV 'RJ 7UDLQLQJ &OXE ¶ $/80,180 &$12( /LNH QHZ FRQGLWLRQ

)25 5(17 'HUE\ 2QH DQG WZR EHGURRP DSDUW PHQWV 1HJRWLDEOH WHUPV 1R GRJV &+$3(/ 3$5. 9,//$

3285(' :$//6 )XOO EDVHPHQWV JDUDJH IRXQ GDWLRQV DGGLWLRQV UHWDLQ LQJ ZDOOV DQG WUHQFK IRRWHUV

,%' !2- 0!). 7LQJOLQJ 1XPEQHVV <RXU SUREOHP PD\ EH 0XVFXODU 'U 2ZHQV VSHFLDOL]HV LQ 0<2)$6&,$/ 086&/( 7+(5$3< SHU YLVLW RU ,QVXUDQFH

('(1 &+,5235$&7,& 1 0DLQ 6W (GHQ

/\QGD0DVRQ6HOOV+RPHV FRP 6WLOO WKH %HVW ,QYHVWPHQW

0LOHVWULS UDQFK KRPHV DFUHV EDUQ &RPPHUFLDO 6W 3L]]RODQWL V EXV RS /DNH 6KRUH EHGURRP UDQFK 0DUVKILHOG 5DQFK DFUH 5HQW RSWLRQ 6 0DLQ XQLW PRQH\ PDNHU ([FHOOHQW LQYHVW PHQW 3RVVLEOH RZQHU ILQDQFLQJ WR TXDOLILHG EX\HU &DOO IRU GHWDLOV

23(1 +286( 681 0DUFK

)UDQNOLQ 1HZ EGP KRPH V I

&HQWXU\ *DQH\

/\QGD 0DVRQ $VVRFLDWH %URNHU &HOO 2IILFH 720 9$<2 3$,17,1* $1' +20( 5(3$,5 ([WHULRU LQWHULRU SDLQWLQJ GU\ZDOO UHSDLU DQG LQVWDO ODWLRQ FDUSHQWU\ UHSDLU \HDUV H[SHULHQFH ,Q VXUHG &DOO ),5(:22' 6HDVRQHG FKHUU\ DLU GULHG PRQWKV ¶ [ ¶ ´ ´ +DUGZRRG IDFH FRUG 8QVHDVRQHG PL[HG KDUGZRRG 7KUHH FRUG PLQLPXP

:( 1((' :,17(5 :25. 1(,*+%25 +22' &2175$&7,1* LV QRZ JLYLQJ XS WR 2)) WR RXU FXVWRPHUV IRU VFKHGXOLQJ WKHLU ZLQWHU KRPH LPSURYHPHQWV 12: 5RRILQJ VLGLQJ ZLQGRZV GRRUV $OO LQWH ULRU DQG H[WHULRU SURMHFWV TXDOLI\ IRU RXU PRQH\ VDY LQJ RIIHU )UHH HVWLPDWHV 6HQLRU GLVFRXQWV

*DOOPDQ ([FDYDWLQJ q 8WLOLW\ :RUN q 3RQGV q 6HSWLF 6\VWHPV q 6LWH :RUN

&HOO +RPH ,QVXUHG

$1*2/$ 3(11<6$9(5 0$5&+

6&(1(6 )520 7+( 3$67

1$*(/·6 %2:/,1* $//(<6

$ERYH LV DQ DG WKDW DSSHDUHG LQ WKH $QJROD 5HFRUG RQ 0DUFK +HUH LV DQ H[DPSOH RI %RZOLQJ 6FRUHV IURP WKDW GDWH $1*2/$ ,&( &2 + +RUQEXUJ + )UDZOH\ 9 7DQQHU $ - *XHVW 0 7DQQHU 7RWDOV

'5,9(5 6$)(7< 5(6($5&+ 678'<

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¶UH

LQ D SURMHFW WKDW KDV WKH SR WHQWLDO WR PDNH GULYLQJ VDIHU DQG VDYH OLYHV IRU \HDUV WR FRPH ,Q DGGLWLRQ WR LPSURYLQJ GULYHU VDIHW\ GDWD JDWKHUHG GXU LQJ WKH VWXG\ ZLOO EH UHVHDUFKHUV DQG KDYH WKH SRWHQWLDO WR GUDPDWLFDOO\ LPSURYH URDG DQG WUDIILF IORZ SODQQLQJ LQFUHDVH IXHO HIILFLHQF\ DQG HYHQ LQIOX HQFH WKH GHVLJQ RI IXWXUH DXWRPRELOHV $Q\RQH LQWHUHVWHG FDQ DWWHQG VKRUW VHPLQDU DQG LQ IRUPDWLRQ PHHW DQG JUHHW DW (YDQV 6HQLRU &HQWHU RQ 0DUFK DW D P 2U JR WR ZZZ GULYLQJ VWXG\Q\ RUJ BBBBBBBB

2%,78$5,(6

'$9,' 5 %$// *UDYHVLGH VHUYLFHV ZHUH KHOG )ULGD\ LQ 6W 3HWHU DQG 3DXO &HPHWHU\ IRU 'DYLG 5 %DOO RI 'HUE\ ZKR GLHG )HEUXDU\ +H ZDV WKH ORYLQJ IDWKHU RI 1LFKR ODV %DOO VRQ RI WKH ODWH (G ZDUG 'RORUHV %DOO EURWKHU RI 5RQDOG &DURO %DOO %\URQ %DOO 3DWULFLD 0LFKDHO +XSS DQG WKH ODWH /HRQDUG %DOO 6KDUH \RXU FRQGROHQFHV DW DGGLVRQ IXQHUDOKRPH FRP BBBBBBBBB %/$1&+( 5,&&, QHH &HUYRQH

$ 0DVV RI &KULVWLDQ %XULDO ZLOO EH FHOHEUDWHG 6DW XUGD\ DP 0RVW 3UHFLRXV %ORRG &KXUFK $QJROD IRU %ODQFKH 5LFFL RI $QJROD ZKR GLHG )HEUXDU\ DW DJH 6KH ZDV WKH EH ORYHG ZLIH RI WKH ODWH 1LFKR ODV 5LFFL ORYLQJ PRWKHU RI 0DUOHQH -LP %XUJHWW 5LFFL DQG 0DUN 0DUWL

5LFFL JUDQGPRWKHU RI -DPHV %XUJHWW 'HVDUHH &KDODQLFN 7DUD 5DLQH\ %UDQGRQ DQG %UHWW 5LFFL $UUDQJHPHQWV ZHUH E\ WKH $GGLVRQ )X QHUDO +RPH $QJROD 6KDUH \RXU FRQGROHQFHV DW DGGLVRQIXQHUDOKRPH FRP BBBBBBBB

/(*,6/$725 0,//6 72 $77(1' (9$16 72:1 %2$5' 0((7,1*

(ULH &RXQW\ /HJLVODWRU 0LQRULW\ /HDGHU -RKQ - 0LOOV ZLOO DWWHQG WKH (YDQV 7RZQ %RDUG 0HHWLQJ RQ :HGQHVGD\ 0DUFK WR KLJKOLJKW &RXQW\ LVVXHV DQG VKDUH LQIRUPDWLRQ RQ LWHPV FRQFHUQLQJ UHVLGHQWV LQ (YDQV 0LQRULW\ /HDGHU

0LOOV ZLOO EH DYDLODEOH DW S P DQG VWD\ IRU WKH GXUDWLRQ RI WKH PHHWLQJ WR WDON ZLWK UHVLGHQWV DQG DQ VZHU DQ\ TXHVWLRQV WKH\ PD\ KDYH $PRQJ WKH WRSLFV 0L QRULW\ /HDGHU 0LOOV SODQV WR GLVFXVV DUH LQIUDVWUXFWXUH UHSDLUV DQG &RXQW\ IL QDQFHV 7KURXJKRXW WKH \HDU 0LQRULW\ /HDGHU 0LOOV ZLOO EH DYDLODEOH WR PHHW ZLWK UHVLGHQWV DW 7RZQ DQG 9LOODJH %RDUG PHHWLQJV +H LV DOVR DYDLODEOH WR PHHW LQ GLYLGXDOO\ ZLWK UHVLGHQWV E\ DSSRLQWPHQW BBBBBBBBB

63,5,7 :((. 7+5,//6 ,00$&8/$7$

9,5*,1,$ 2 3/$&( QHH 2YHUGRUI

9LUJLQLD 2 3ODFH RI $QJROD SDVVHG DZD\ )HE UXDU\ DW WKH DJH RI 6KH ZDV WKH EHORYHG ZLIH RI 2OLYHU / 3ODFH ORY LQJ PRWKHU RI /DQD 0 0LFKDHO 5L]]XWR 1LQD / ODWH &KDUOHV -DJRX /LQGD ' &DSLWDQR /DUU\ / 3DWULFLD 3ODFH *UHJRU\ / &DWKHULQH 3ODFH DQG 5RE HUW / -DQLFH 3ODFH DOVR VXUYLYHG E\ VHYHUDO JUDQG DQG JUHDW JUDQGFKLOGUHQ $UUDQJHPHQWV ZHUH E\ WKH $GGLVRQ )XQHUDO +RPH 6KDUH \RXU FRQGROHQFHV DW DGGLVRQIXQHUDOKRPH FRP BBBBBBBB

,Q \HW DQRWKHU LQWHQVH FRPSHWLWLRQ WKH VHQLRUV FDPH RXW RQ WRS RI ,PPDFXODWD¶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¶V ORFN LQ WKDW RIILFLDOO\ EHJDQ 6SLULW :HHN &RPSHWLWLRQ ZDV KRW GXULQJ WKH :KRVH /LQH VW\OH

DG OLE JDPHV WKDW RSHQHG WKH ZHHN DQG VWD\HG DW D IHYHU SLWFK GXULQJ WKH WHDPZRUN JDPHV 7XHVGD\ WKH PHPR UDEOH OLS V\QF SHUIRUPDQFHV :HGQHVGD\ DQG )ULGD\¶V WHDP UHOD\V 7KH MXQLRUV WRSSHG WKH VH QLRUV WR WDNH WKH OLRQ¶V VKDUH RI SRLQWV RQ GD\ RQH ZKLOH WKH VHQLRUV UHYHUVHG WKH WUHQG DV WKH\ ILQLVKHG WKH WHDPZRUN FRPSHWLWLRQ TXLFNHU WKDQ WKHLU MXQLRU SHHUV RQ 7XHVGD\ 6RSKRPRUHV VXUSULVHG RQ 7KXUVGD\ ZLQQLQJ WKH OLS V\QF FRPSHWLWLRQ ZLWK D IDQWDVWLFDOO\ FKRUHRJUDSKHG URXWLQH $QG WKH VHQLRUV VKRZHG WKHLU H[SHULHQFH RQ )ULGD\ ZLWK VWURQJ SHUIRU PDQFHV LQ PDQ\ RI WKH WHDP UHOD\V 3KRWRV DQG YLGHRV RI WKH ZHHN¶V DFWLYLWLHV FDQ EH IRXQG DW)DFHERRN FRP ,PPDFXODWD $FDGHP\ 3LFWXUHG DUH VHQLRUV FHO HEUDWLQJ 6SLULW :HHN BBBBBBBB

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

0V 6RQGUD ZHOFRPHV 3LDQR 9RLFH DQG 9LVXDO $UWV 6WXGHQWV %HDW WKH :LQWHU %OXHV ZLWK 0V 6RQGUD RII RI /HVVRQV *RRG WKUX 0DUFK VW

)25 6$/( $QJROD 5H GXFHG %HDXWLIXO EHG URRP EDWK GRXEOHZLGH *UHDW URRP ZLWK ILUHSODFH KXJH NLWFKHQ IRUPDO GLQ LQJ URRP DOO DSSOLDQFHV PDVWHU EDWK VXLWH ZDON LQ FORVHW $ZQLQJ VKHG V 75,721 RU :,/' %8))$/2 $8& 7,216 6RXWK 0DLQ 6W $QJROD 1HZ <RUN )ULGD\ DW SP *(7 $ -803 67$57 RQ \RXU \DUG FOHDQXS VPDOO GHPR ZRUN &DOO 5LFK

& & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & &$6+ )25 -81. 9( +,&/(6 DQG VFUDS PHWDO &DOO 5RE '09 & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & & 7+( 6(('6 DUH KHUH %X\ HDUO\ EHVW VHOHFWLRQ 6HH %DFN 3DJH %(//$ 7(55$ *5((1+286( )25 5(17 EHGURRP DSDUWPHQW LQ 3RLQW %UHH]H ZLWK ZDVKHU GU\HU KRRNXS PRQWK 6H FXULW\ GHSRVLW DQG UHIHU HQFHV 1R GRJV &DOO -LP /HDYH PHV VDJH

0$67(5 (/(&75,&,$1 %LJ MREV VPDOO MREV ORZ UDWHV 4XDOLW\ ZRUN )UHH HVWLPDWHV &DOO &UDLJ 2)),&( 5(7$,/ VSDFH QHZO\ UHQRYDWHG VT IW (ULH 5RDG 'HUE\ 2QH PRQWK IUHH ZLWK \HDU OHDVH 68%$58 /(*$&< PL $OO ZKHHO GULYH RU EHVW RIIHU

3,672/ 3(50,7 &2856(

WR EH KHOG LQ %UDQW /LPLWHG &RXUVH )HH 0$5&+ WK 6HDWLQJ ,QFOXGHV SKRWRV FODVV PDWHULDO DSSOLFDWLRQV FHUWLILFDWH ,QVWUXFWLRQ E\ 3ROLFH 2IILFHU

$ 9,//$*( /2&.60,7+ QRZ KDV ',6&2817(' PRYLH SDVVHV IRU 5HJDO &LQHPDV DYDLODEOH

&HUWLILHG ,QVWUXFWRU

52206 $9$,/$%/( PRQWKO\ LQ (YDQV DUHD &DOO IRU UDWHV

,!+%3(/2% &!-),9 -%$)#).% (ULH 5RDG 'HUE\ 1 < ‡

1HZ )DFLOLWLHV $FFHSWLQJ 0RVW ,QVXUDQFHV /RFDWLRQV 'HUE\ ‡ 1RUWK &ROOLQV ‡ ,UYLQJ

‡ )DPLO\ 3UDFWLFH IRU HYHU\ DJH LQFOXGLQJ LQIDQWV DQG FKLOGUHQ ‡ 6LFN FDOO DYDLODELOLW\ VDPH RU QH[W GD\ ‡ (YHQLQJ KRXUV DQG 6DWXUGD\ KRXUV 'U 0RUULV &DYDOLHUL 'U +HQQD 6KHLNK 'U 0DU\ 5\NHUW :ROI 'U 7DULT 6KHLNK .DUHQ 3ODFHN 1RUWRQ 53$& $OVR $YDLODEOH ‡ 1HXURVXUJHU\ ‡ 3K\VLFDO 7KHUDS\ ‡ 0DVVDJH 7KHUDS\ ‡ &KLURSUDFWLF 6HUYLFHV ‡ /DE ‡ 1HXURORJ\ ‡ 05, ‡ 8URORJ\ ‡ 3RGLDWU\ ‡ &DUGLRORJ\ ‡ *, 6SHFLDOLVWV ‡ 5KHXPDWRORJ\ ‡ 9DVFXODU 6XUJHU\ ‡ 3K\VLDWU\ ‡ *HQHUDO 6XUJHU\ ‡ 2UWKRSHGLF

$1*2/$ 3(11<6$9(5 0$5&+

#2!:9 ,/6%

-RLQ XV EHJLQQLQJ 0DUFK WK DW S P IRU WKLV G\QDPLF OLIH FKDQJLQJ '9' ERRN VWXG\ E\ )UDQFLV &KDQ

02!9%2 02!)3%

6XQGD\ 0DUFK WK S P %H HQFRXUDJHG E\ $VKOH\¶V 6WRU\ RI D \RXQJ FROOHJH VWXGHQW VHHNLQJ *RG¶V WUXWK IRU KHU OLIH DQG WKH HIIHFWV RQ KHU IDPLO\ 'LVFXVVLRQ WR IROORZ /RRNLQJ IRU VSLULWXDO DQVZHUV" /HW *RG¶V :RUG EH \RXU JXLGH (YHU\RQH ZHOFRPH

+,6 :$<

1 0DLQ 6W $QJROD ‡ 3DVWRU 1DQF\ %DUEHU )25 5(17 3RLQW %UHH]H EHGURRP EDWK XS GDWHG KRXVH FRWWDJH 6WRYH DQG UHIULJHUDWRU LQ FOXGHG ZDVKHU GU\HU KRRNXSV ODUJH \DUG ZLWK VKHG 2QH EORFN IURP EHDFK PRQWK )LUVW ODVW VHFXULW\

+$0%85* ,I \RX DUH D VHQLRU DQG \RXU DQQXDO LQ FRPH LV OHVV WKDQ \RX PD\EH VXUSULVHG WR ILQG \RX TXDOLW\ IRU UHQWDO DVVLVWDQFH %(7+(/ (67$7(6 6RXWKZHVWHUQ %RXOHYDUG ZZZ EHWKHO HVWDWHVRQOLQH FRP (+2

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * (;3(5,(1&(' $1' &203/(7( 3523(57< 0$1$*(0(17 6(5 9,&( /HDVHV 5HQWV FROOHFWHG VHFXULW\ GHSRV LWV PDLQWHQDQFH DQG UH UHQWDO &DOO 12: DW 3$75,&. & *5(6.2 5($/7< 0$1$*(0(17 * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * &2817(57236 &XV WRP PDGH ODPLQDWH )RUPLFD DQG :LOVRQ $UW ,QVWDOOHG RU FDVK DQG FDUU\ &DOO *X\ &$53(7 $1' 3$' :KROHVDOH SULFHV $OVR ODPLQDWHV DQG OLQRV %HVW SULFHV LQ : 1 < )UHH HVWLPDWHV 7,0 0853+< )25' )2&86 6(/ GRRU OHDWKHU SRZHU URRI . PLOHV &DOO *UHJ DW H[W

7KH $QJROD 3HQQ\VDYHU KDV D QHZ (PDLO DGGUHVV DGV#DQJRODSHQQ\VDYHU FRP

________

$1*2/$ 3(11<6$9(5 0$5&+

72:1 2) (9$16 3$5.6 '(37 2)),&( (9$16 72:1 +$//

($ 67( 5 (** +817 ($67( 67(5 &RPH DQG VD\ +, WR WKH (DVWHU %XQQ\

:+(5( (YDQV 7RZQ 3DUN :+(1 6DWXUGD\ 0DUFK WK 5DLQ 'DWH 6DWXUGD\ 0DUFK VW :+2 %R\V DQG *LUOV DJHV 3UL]HV ZLOO EH DZDUGHG LQ HDFK DJH JURXS DQG IRU WKH MHOO\ EHDQ FRXQW FRQWHVW (JJ +XQW EHJLQV DW DP VKDUS 3OHDVH DUULYH EHIRUH DP &20387(5 :,=$5' &RPSXWHU UHSDLU XS JUDGHV &RPSXWHU 6/2:" ,QWHUQHW YLUXVHV DQG VS\ZDUH LQIHFWLQJ \RXU FRPSXWHU" &RPSOHWH FRPSXWHU RYHUKDXO /RZHVW SULFHV JXDUDQWHHG

)25 5(17 /DUJH DQG 6PDOO KDOO DLU FRQGL WLRQHG IRU ZHGGLQJV EDQTXHWV SDUWLHV HWF 6SHFLDO UDWHV IRU JURXS IXQFWLRQV /$.( (5,( %($&+ ),5( &2 &DOO 0DU\ FDOO +DOO

$'237 *$72 6L[ \HDU ROG IHPDOH WDEE\ 6KH ZRXOG SUHIHU D KRPH DV DQ RQO\ FDW WHQBOLYHVBFOXE#\DKRR FRP IRU DGRSWLRQ LQIR

72362,/ *5$9(/ VKDOH VODJ DQG ILOO &RPSDUH P\ SULFHV 1HZ ODZQV GULYH ZD\V VHZHU DQG VHSWLF V\VWHPV GHPROLWLRQ EDFNKRH DQG EXLOOGR]LQJ )5$1. 0217(/(21( %(67 9$/8( ,1 '(5%< $PD]LQJ GHDO RQ QLFH %' +HDW LQ FOXGHG /DXQGU\ RQ VLWH *UHDW IRU GRJV ORWV RI RSHQ VSDFH 2QO\ 2QO\ PLQXWHV WR GRZQ WRZQ %XIIDOR 7KLV XQLW :,// 127 /$67 0DWW

(YDQV %UDQW &KDPEHU RI &RPPHUFH

$118$/ ',11(5 6DWXUGD\ 0DUFK ‡ S P DW WKH /DNH (ULH %HDFK )LUH +DOO

&LWL]HQ RI WKH <HDU -RVHSK 3LVDUVNL RI $QJROD /DUJH %XVLQHVV KRQRU /$'6 3HW 6XSSOLHV RI (YDQV 6PDOO %XVLQHVV DZDUG $ 9LOODJH /RFNVPLWK RI 'HUE\ 3URMHFW RI WKH <HDU /DNH (ULH %HDFK 9ROXQWHHU )LUH &RPSDQ\ XSJUDGLQJ HPHUJHQF\ UHVSRQVH VHUYLFHV 1RW IRU 3URILW RI WKH \HDU %R\V DQG *LUOV &OXE RI /DNH 6KRUH (PHUJLQJ %XVLQHVVHV -D\¶V +LOOWRS %LVWUR DQG .LP¶V 6KHDU ([SUHVVLRQV 6SHFLDO 3HUVHYHUDQFH DZDUG 6FDOO\ZDJV 5HVWDXUDQW 0DVWHU RI &HUHPRQLHV -HII &RQQRUV %XIIHW 'LQQHU ZLWK FDVK EDU 7LFNHWV DUH SHU SHUVRQ 3OHDVH PDLO \RXU FKHFN ZLWK D QRWH UHJDUGLQJ DQ\ VHDWLQJ SUHIHUHQFH WR WKH &KDPEHU DW 1RUWK 0DLQ 6W $QJROD 1< 'HDGOLQH 6DW )RU PRUH LQIR SOHDVH OHDYH D PHVVDJH DW RU HPDLO WR µFKDPEHU#HEFFQ\ RUJ¶

)25' 5$1*(5 ;/7 6SRUW 6 &DE [ /RDGHG . PLOHV &DOO -HQQLIHU DW H[W 5220 )25 5(17 $Q JROD ZHHN ,Q FOXGHV XWLOLWLHV

)(1&(6 81/,0,7(' )HQFH UHSDLUV DQG QHZ LQVWDOODWLRQV DOO W\SHV )25 6$/( &28&+ $1' /29(6($7 %URZQ JRRG FRQGLWLRQ EHVW RIIHU

$1*2/$ 3(11<6$9(5 0$5&+

‡ $GGLWLRQV ‡ 5RRIV ‡

‡ 5HPRGHOLQJ ‡ 7ULP ‡

‡ ‡ ‡ ‡ :LQGRZV ‡ 'RRUV ‡ 'HFNV ‡ ‡ ‡ ‡

)5$1. %8,/'(56 'HUULFN )UDQN )5(( (67,0$7(6 /,&(16(' ,1685('

6+8/7= &2

(6 7 (67 +$5':$5( $33/,$1&(6 1257+ 0$,1 67 $1*2/$

6LGLQJ ‡ *XWWHUV ‡ 'U\ZDOO ‡ &DELQHWV &$6+ 3$,' IRU DQ\ ROGHU GLQLQJ EHGURRP WDEOHV FKDLUV FDELQHWV FORFNV FKLQD JODVVZDUH DQ\ WKLQJ ROG +H\ \RX QHYHU NQRZ +,/7< 75(( 6(59,&( 7ULPPLQJ UHPRYDO VWRUP FOHDQ XS ILUHZRRG )UHH HVWLPDWHV

0- )25(67(56 75(( 6(59,&( 7ULPPLQJ SUXQLQJ UHPRYDOV DQG VWXPS JULQGLQJ )UHH HV WLPDWHV IXOO\ LQVXUHG RU +<81'$, 621$7$ /LPLWHG +HDWHG OHDWKHU SRZHU URRI QDYLJDWLRQ . PLOHV &DOO 6WHYH DW H[W

6+233,1* /2&$//< +(/36 (9(5<21( ,1 7+( &20081,7< 35263(5

+DV <RXU 3HQQ\ 6DYHU %R[ 6XVWDLQHG 'DPDJH"

+286( )25 6$/( %< 2:1(5

&KXUFK 5RDG $QJROD

$QJROD \HDU ROG UDQFK EHGURRP ò EDWK ZLWK DFUHV +XJH EDVHPHQW &HQWUDO DLU 1HZ IRRW DERYH JURXQG SRRO ZLWK GHFN $QRWKHU ODUJH GHFN ZLWK JD]HER %HDXWLIXO ODQGVFDSLQJ RU PDNH RIIHU 1R FRQWLQJHQFLHV RQO\ FOHDQ GHDOV

&$// IRU DSSRLQWPHQW

Penn

ySav

er

6WRS E\ WKH $QJROD 3HQQ\ 6DYHU RIILFH DQG SLFN RQH XS )5(( 2) &+$5*( 5(6 ,'(1 7,$/

/ 5&,$ ( 0 &20

/$:1&$5( +$5'6&$3(6 :HHNO\ /DZQ 0DLQWHQDQFH 612:3/2:,1* %REFDW 6HUYLFHV /LJKW 'XPS 7UXFN :RUN +HGJH 7ULPPLQJ

)5(( (67,0$7(6

%HOJDUG

6WRQH 'ULYHZD\V /DQGVFDSH 5HQRYDWLRQ 0XOFK :RUN 5HWDLQLQJ :DOOV ,QWHUORFNLQJ 3DYHUV 6SHFLDOLVWV

2ZQHU 2SHUDWRU $QGUHZ /RQNH\

*5($7 35,&(6 6(59,&(

2DN¶V 3DYHUV

3$6632576 21 7+( 029(´

(ULH &RXQW\ &OHUN &KULV -DFREV WRGD\ DQQRXQFHG WKDW KLV RIILFH LV KRVWLQJ D VSHFLDO ³3DVVSRUWV RQ WKH 0RYH´ RXWUHDFK RQ 7KXUV GD\ 0DUFK WK DQ HYHQW GHVLJQHG WR DVVLVW WKH SXE OLF E\ SURYLGLQJ SDVVSRUW LQIRUPDWLRQ DQG SURFHVVLQJ DSSOLFDWLRQV 7KH HYHQW ZLOO EH KHOG IURP SP DW WKH :DOGHQ *DOOHULD 0DOO 7KH &OHUN¶V 2IILFH ZLOO EH VHW XS MXVW RXWVLGH WKH $SSOH 6WRUH $SSOLFDWLRQV ZLOO EH DF FHSWHG XQWLO SP ³7KLV LV D WHUULILF RSSRU WXQLW\ IRU SHRSOH ZKR KDYH EHHQ ZDLWLQJ WR JHW D SDVV SRUW WR FRPH RXW DQG DSSO\ IRU RQH ´ VDLG -DFREV ³,W LV KDUG IRU SHRSOH WR WDNH RII ZRUN DQG FRPH GRZQWRZQ VR ZH ZDQWHG WR WDNH WKLV RSSRUWXQLW\ WR EHWWHU VHUYH RXU FRQVWLWXHQWV 0\ RI ILFH LV SOHDVHG WR PDNH WKLV VHUYLFH DYDLODEOH ´ $SSOLFDQWV ZLOO EH DEOH WR DSSO\ IRU D SDVVSRUW FDUG SDVVSRUW ERRN RU ERWK DQG FDQ H[SHFW WR UHFHLYH WKHLU SDVVSRUW LQ DSSUR[LPDWHO\ IRXU WR VL[ ZHHNV IRU URX WLQH VHUYLFH DQG DERXW WZR WR WKUHH ZHHNV IRU H[SHGLWHG VHUYLFH (YHU\RQH WUDYHOOLQJ LQ DQG RXW RI WKH 8QLWHG 6WDWHV E\ DLU UHTXLUHV D SDVV SRUW 8 6 FLWL]HQV PXVW SUHVHQW D SDVVSRUW WR HQWHU WKH 8QLWHG 6WDWHV IURP

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¶V OLFHQVH RU QRQ GULYHU , ' DQG RQH [ SKRWR ZKLFK FDQ EH PDGH DW &96 :DOJUHHQV RU WKH &OHUN¶V 2IILFH FDQ DOVR WDNH D SDVVSRUW SKRWR RQ VLWH IRU D IHH 3DVVSRUW DSSOLFDWLRQV D OLVW RI DOO UHTXLUHG GRFX PHQWV DQG D VFKHGXOH RI IHHV LV DYDLODEOH E\ YLVLWLQJ ZZZ HULH JRY FOHUN DQG FOLFNLQJ RQ WKH 3DVVSRUW LFRQ RU E\ FRQWDFWLQJ WKH (ULH &RXQW\ &OHUN¶V 2IILFH GL UHFWO\ DW BBBBBBBBBB

$1*2/$ 3(11<6$9(5 0$5&+

/(*,21 /$',(6 7285 %8))$/2 9$ +263,7$/

2Q )HEUXDU\ PHPEHUV RI WKH $PHULFDQ /HJLRQ /DGLHV $X[LOLDU\ KDG WKH KRQRU RI WRXULQJ WKH %XIIDOR 9$ +RVSLWDO )HPDOH 9HWHUDQV )DFLOLW\ 7KH\ ZHUH DPD]HG DW WKH QXPEHU RI IHPDOH YHWHUDQV EHLQJ WUHDWHG XQGHU WKHLU KHDOWK FDUH V\VWHP ,W ZDV EURXJKW WR WKHLU DWWHQWLRQ WKDW WKHUH DUH ZRPHQ ZKR MXVW KDG EDELHV RU DUH SUHJQDQW DW WKLV WLPH QHHGLQJ KHOS 2Q )HEUXDU\ WK DIWHU WKH $X[LOLDU\¶V UHJXODU PRQWKO\ PHHWLQJ WKH\ KHOG D EDE\ VKRZHU WR FROOHFW LWHPV IRU WKH YHWHUDQV 7KH PHPEHUV VWHSSHG XS FRO OHFWLQJ RYHU LQ EDE\ LWHPV LQ :DO 0DUW DQG 'ROODU *HQHUDO JLIW FDUGV IRU WKHP WR SXUFKDVH IRUPXOD GLDSHUV DQG IRRG $OO RI WKHVH LWHPV ZHUH JLYHQ WR -LOO WKH 9$ FRRUGL QDWRU RQ WKH GD\ RI WKH WRXU 7KH /DGLHV $X[LOLDU\ ZRXOG OLNH WKH FRPPXQLW\ WR NQRZ WKDW WKH\ GLG QRW VWDUW WKHUH QRU DUH WKH\ JR

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

:( :$17 <285 1(:6 6HQG LW WR

QHZV#DQJRODSHQQ\VDYHU FRP

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

: : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : :$17(' '($' 25 $/,9( <RXU MXQN YHKLFOH . 5 6$/9$*( 'RQ¶W JLYH DOO RXU SDUWV FDUV WR &KLQD : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : 58%%(5 67$036 $9$,/ $%/( DW WKH (GHQ 3HQQ\ 6DYHU 2IILFH $ 9LOODJH /RFNVPLWK 'HUE\ $ 9,//$*( /2&.60,7+ QRZ KDV ',6&2817(' PRYLH SDVVHV IRU 5HJDO &LQHPDV DYDLODEOH 6($621$/ +(/3 :$17(' *UHHQ KRXVH DQG YHJHWDEOH IDUP 0XVW ZRUN PRVW ZHHNHQGV &DOO )25 6$/( &KHY\ &RUVLFD F\O DXWR

,I \RX ZDQW WR EH LQFOXGHG LQ RXU 67 3$75,&.·6 63(&,$/ (',7,21 3OHDVH FRQWDFW $QJROD 3HQQ\ 6DYHU RU (GHQ 1RUWK &ROOLQV 3HQQ\ 6DYHU

0$5&+

The now offers

FULL COLOR at

NEW LOWER RATES!!! Contact the Angola and Eden-North Collins Pennysavers for more information. Angola Pennysaver - 549-1164 Derby Office - 947-5997 Eden-North Collins Pennysaver 992-4625

$1*2/$ 3(11<6$9(5

0$5&+

$1*2/$ 3(11<6$9(5 0$5&+

7KH /DNH 6KRUH &HQWUDO 7HDFKHUV· $VVRFLDWLRQ HQFRXUDJHV DOO GLVWULFW UHVLGHQWV WR 6833257 WKH 9HKLFOH 3XUFKDVH 5HIHUHQGXP RQ 7XHVGD\ 0DUFK

6$)( %86(6 PHDQ 6$)( 678'(176

927( ´<(6µ

78(6'$< 0$5&+ $0 30 6HQLRU +LJK 6FKRRO /REE\ 3DLG IRU E\ WKH /DNH 6KRUH &HQWUDO 7HDFKHUV¶ $VVRFLDWLRQ )25' 7$8586 6(/ GRRU OHDWKHU ORDGHG 2QH RZQHU . PLOHV &DOO &KXFN DW H[W

3,$12 781,1* UHSDLU LQJ UHJXODWLRQ DQG UHV WRUDWLRQ E\ )5$1. - &,0,1(6, 5HVWRUHG SL DQRV IRU VDOH

+(/3 :$17(' %DLW 3DFNHUV IXOO SDUW WLPH IOH[ LEOH KRXUV :((./(<¶6 :+2/(6$/( %$,7

/(7 ,7 612:

0UV .ULVWLQ &KDPEHUV *UDGH &ODVV ZDV OHDUQLQJ DERXW FU\VWDO DQG VQRZ DQG ZKDW EHWWHU ZD\ WKDQ WR WDNH LW RXWVLGH 2Q )HEUXDU\ WKH FODVV IRXQG VQRZ DW &KHVWQXW 5LGJH 7KH NLGV VSHQW WKH DIWHUQRRQ JRLQJ XS DQG GRZQ WKH KLOO ZLWK VOHGV VDXFHUV DQG VQRZ WXEHV

:KDW D JUHDW ZD\ WR FHO HEUDWH 9DOHQWLQH¶V 'D\ 3LFWXUHG DUH 0LFKDHO 6PDOGLQR 7- $LNLQ -DFN 9XNHOLF 4XLQQ *ULIILQ (ULF %RZPDQ 7RPP\ &UXSH =DFN %DUQH\ 0DULVVD +XGG\ (PPD .DWUD 'HODQH\ &DPSEHOO 7\OHU 0DQFXVR 7HDJDQ 'RGVRQ &DLWOLQ 'LOV

$1*2/$ 3(11<6$9(5

(YDQV &HQWHU 9RO )LUH &R /DGLHV $X[

/HQW LV +HUH

/(17(1 ),6+ )5,(6 1RZ WKUX /HQW

6HUYLQJ IURP S P &DVK %DU $YDLODEOH (ULH 5G $QJROD ‡

(ULH 5G 'HUE\

*LIW &DUGV $YDLODEOH )XOO &DVK %DU

(9(5< )5,'$< '85,1* /(17 6(59,1* ),6+ $// '$< 83 72 3 0

0DQ\ 6HDIRRG GLVKHV WR FKRRVH IURP 7U\ RXU 3DUPHVDQ &UXVWHG +DGGRFN

‡ 6HDIRRG 'LQQHUV ‡ 6DODGV ‡ 3DVWD ‡ 3L]]D ‡ $SSHWL]HUV ‡ 6RXSV

7KH 6SRUWVPDQ 5HVWDXUDQW $OOHJKDQ\ 5G ,UYLQJ

6HUYLQJ WKH %HVW

)5,'$< ),6+ )5<

3/86 ‡ :LQJV ‡ 3L]]D ‡ 6WHDNV ‡ 6HDIRRG ‡ 6QDFNV ($7 ,1 RU 7$.( 287

.LWFKHQ 2SHQ SP DP (YHU\GD\

6XQVHW %D\ 5HVWDXUDQW

5WH 6LOYHU &UHHN

)DPLO\ )ULHQGO\ %DU *ULOOH

EHVW ILVK IU\ LQ WRZQ

$9$,/$%/( (9(5< )5,'$<

%=OP %@AJ 4=RANJ 2AOP=QN=JP

(DVW (GHQ 5G (GHQ

ZZZ HDVWHGHQWDYHUQ FRP

:( 6(59( ),6+ )5,(6 (9(5< 1,*+7

2OG /DNH 6KRUH 5G 'HUE\ 1< ‡

/(17

6(59,1* ),6+ )5,(6 '$,/< $OVR PDQ\ RWKHU IUHVK VHDIRRG RSWLRQV 7DNH RXWV $YDLODEOH

5WHV ,UYLQJ 1HZ <RUN 3KRQH

(ARLY %IRD 6PECIAL

),6+ )5,(6 ,1 +286( 21/< ),6+ )5,(6 )25 ,1 +286( 21/< VSHFLDOV YDOLG HYHU\ ZHG IUL GXULQJ OHQW

0DQ\ GLIIHUHQW YDULHWLHV RI )LVK )ULHV

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

*ROGHQ 3DZV 3HW &DUH 6HUYLFHV 6HUYLFHV 2IIHUHG

'RJ :DONLQJ 3OD\ 6HVVLRQV 1DLO 7ULPPLQJ %RG\ %UXVKLQJ :DVWH 3LFN XS 3HW 7D[L 7XHVGD\V 3HW 6XSSO\ 2UGHUV

"(++. /,! % ( +" 0$! 3!!' (1*/$1' 62)$ /29(6($7 /LFHQVHG ,QVXUHG %RQGHG

ZZZ *ROGHQ3DZV3&6 FRP

0$66$*( 7+(5$3< 63(&,$/ IRU RQH KRXU PDVVDJH 2IIHU YDOLG WKURXJK &DOO 6D UDK 1 0DLQ 6W $QJROD */$66 0,55256 WDEOH WRSV VKRZHU GRRUV SOH[L JODV VRODU FRQWURO ILOP &DOO +$0%85* */$66 $1' :,1'2: ),/0

0$5&+

:$17 025( /29(" $'237 $ +20(/(66 3(7 0L[HV SXUHEUHGV DOO VL]HV DJHV GRJV DQG FDWV 9LVLW ZZZ KHDUWIRU DQLPDOV RUJ DQG ZZZ SRVWDSRRFKSOXV FRP RU FDOO )25 5(17 1RUWK &ROOLQV DQG EHGURRP DSDUW PHQWV

5HJ

&RPSOHWH WKH ORRN %HVW 5RFNHU 5HFOLQHU (QJODQG &RIIHH 7DEOH (QJODQG (QG 7DEOH &KDLUVLGH 7DEOH 6RID 7DEOH &RQVROH

6DOH

QR DGGLWLRQDO GLVFRXQW6 FRXSRQV WDNHQ RQ WKLV VSHFLDO &RPH LQ IRU 3DFNDJH 3ULFLQJ 635,1* '(&25 *,)76 12: ,1 672&.

('(1 9$//(< )851,785( 1 0$,1 675((7 ('(1 1<

0RQ 7XHV )UL :HG 7KXUV SP 6DW ³7+( 75(( 685*(21 ´ 7UHH UHPRYDO WULPPLQJ VWXPS JULQGLQJ ORW FOHDU LQJ )LUHZRRG 5HDVRQ DEOH SULFHV )UHH HVWL PDWHV )XOO\ ,QVXUHG 02'8/$5 $1' 0$18 )$&785(' +20(6 *R WR RXU QHZ ZHEVLWH ZZZ RZOKRPHVZQ\ FRP 2XU SULFHV ZRQ¶W EH EHDW 2ZO +RPHV RI )UHGRQLD 5W )UHGRQLD 1< RU 75$160,66,216 3 5 2 ) ( 6 6 , 2 1 $ / /< 29(5+$8/(' DQG LQ VWDOOHG LQ \RXU SDVVHQJHU FDU RU OLJKW WUXFN 2QH \HDU ZDUUDQW\ DQG DIIRUG DEOH SULFLQJ &DOO 0RQGD\ )ULGD\ OE EDJ 1DWXUHV &KRLFH :LOG %LUG )RRG 063 6HH %DFN 3DJH %(//$ 7(55$ *5((1+286( 86(' 75$&725 6$/( 3ULFHV VWDUW DW *HW VHW IRU 6SULQJ *8*,12 /$:1 *$5'(1 %UDQW 5HVHUYDWLRQ 5G %UDQW

%8,/',1* $ 1(: +20(" (9(5*5((1 $&5(6 %8,/',1* 6,7(6 : &KXUFK 6W (YHO\Q 'U (GHQ 1< &ORVH WR WRZQ &ORVH WR UHFUHDWLRQ 6KRUW GULYH WR WKUXZD\ $OO XWLOLWLHV 12: +,5,1* ([SHUL HQFHG *ULOO 3HUVRQ $SSO\ LQ SHUVRQ 683(5 )5((=( '5,9( ,1 (ULH 5G 'HUE\

)25 5(17 8SSHU DSDUWPHQW LQ 'HUE\ EHGURRP EDWK PRQWK SOXV XWLOLWLHV

$1*2/$ 3(11<6$9(5

/< 1 5(6' 2 : 8 <6 7 + '$ ('6 ( 7:8

3 6 2 ( 7 ,& ' 5 , 3 3$

0$5&+

1((' &$6+"

285 %8< 35,&(6 )25 6,/9(5 $1' *2/' $5( $7 7+( +,*+(67 7+(< +$9( (9(5 %((1 ,1 29(5 <($56 #

3$<,1* 723 '2//$5 21 8 6 6,/9(5 &2,16 %HIRUH ‡ 'LPHV ‡ 4XDUWHUV ‡ +DOYHV ‡ 6LOYHU 'ROODUV

$OVR %X\LQJ ‡ 3URRI 0LQW 6HWV ‡ )UDQNOLQ 0LQW 6HWV ‡ 6LOYHU %DUV ‡ 6LOYHU 1LFNHOV ‡ 6WHUOLQJ %RZOV ‡ 6WHUOLQJ 6SRRQV )RUNV .QLYHV &DQGOHVWLFNV ‡ &ODG ´ µ .HQQHG\ +DOYHV

&$6+ )25 *2/' 723 35,&(6 3$,' )25 $1<7+,1* *2/' ‡ *ROG 7HHWK ‡ 6FKRRO 5LQJV ‡ :HGGLQJ %DQGV ‡ *ROG &KDLQV ‡ *ROG %DUV , QHHG DQ\ ZDWFKHV HYHQ EURNHQ RQHV IRU SDUWV , HVSHFLDOO\ QHHG WKH IROORZLQJ PDNHV :DOWKDP 5ROH[ %DOO 'XGOH\ (OJLQ +DPLOWRQ 7LPH[ ,OOLQRLV 5RFNIRUG DQ\ FRPLF ZDWFKHV /RQJLQHV /H&RXOWUH %XORYD 3DWHN 3KLOLSSH 2PHJD 0RYDGR HWF 723 35,&( 3$,' )25 $1< :$7&+(6

‡ ‡ ‡ ‡

*ROG :DWFKHV *ROG 6FUDS *ROG )LOOHG (\HJODVV )UDPHV 6LOYHU &HUWLILFDWHV DQG 2OG &XUUHQF\

:$17('

'($' 25 $/,9( $1< 32&.(7 25 :5,67 :$7&+(6

'$<6 21/< 9): 3267 %\ -XELOHH 5RXWH $QJROD

78(6 0$5 WK :(' 0$5 WK $0 30

$1*2/$ 3(11<6$9(5 0$5&+

1,*+7 :((.(1' (;$06 ‡ &217$&7 /(16(6 ‡ '(6,*1(5 )5$0(6

(5,( 5' '(5%< 1< %ORFNEXVWHU 3OD]D 3KRQH

,I \RX KDYH PHGLFDO LQVXUDQFH \RX KDYH RSWLFDO LQVXUDQFH &DOO XV IRU \RXU SODQ·V GHWDLOV )OH[ 6SHQGLQJ &DUGV $FFHSWHG

6FKHGXOH \RXU DSSRLQWPHQW DW '(5%<(<( &20 2XWVLGH $FFHSWHG 6725( +2856 0RQGD\ S P 7XHVGD\ S P :HGQHVGD\ 7KXUVGD\ S P )ULGD\ S P 6DWXUGD\ S P

'U 5REHUW - -RED 2SWRPHWULVW -RH 2¶1HLOO -DQLFH 6KDYHU 1<6 /LFHQVHG 2SWLFLDQV '($'/,1( 7+856 $7 1221

3$57</,7( )81'5$,6(5 )RU /DGLHV $X[LOLDU\ )$51+$0 5HIU HVKP RPH ),5(+$// F O H HQWV : $OO

0$5&+ WK

$Q\WLPH EHWZHHQ S P DQG S P

86(' 612:%/2:(56 VWDUWLQJ DW RQO\ *8*,12 /$:1 *$5 '(1 %UDQW $// :$7&+ %$77(5,(6 ,QVWDOOHG RQO\ *ROG 3HDUO -HZHOHUV 0DLQ 6W +DPEXUJ :$6+(5 $1' '5<(5 5(3$,5 0RVW PDNHV *XDUDQWHHG

%$66 3/$<(5 :$17(' 7ZR JXLWDULVWV DQG GUXP PHU MDP LQ $QJROD RQ 6DWXUGD\ QLJKWV ¶V =HSSHOLQ %RVWRQ *XHVV :KR HWF %RE '2 <28 +$9( %$51 0,&(" :H KDYH FDWV DYDLODEOH IRU SODFHPHQW LQ EDUQV RU JDUDJHV &DOO +($57 $QLPDO 5HVFXH DW

)25' ) ); 6 &DE [ /HDWKHU QDYLJD WLRQ ´ ZKHHOV . PLOHV ORDGHG &DOO &KXFN DW H[W 6($621(' ),5(:22' +DUGZRRG PDSOH DLU GULHG ò \HDUV ¶ ; ¶ [ ´ IDFH FRUG

/DNH 6KRUH &HQWUDO 6FKRROV

,I \RX VHH 7HUHVD .REHO

(YDQV %UDQW &HQWUDO 6FKRRO 'LVWULFW

7UDQVSRUWDWLRQ 9HKLFOH 3XUFKDVH 5HIHUHQGXP 0DUFK D P WR S P /DNH 6KRUH 6U +LJK 6FKRRO 0DLQ /REE\

DND 7.

1RWLFH WR 5HVLGHQWV 9RWHUV VKRXOG EULQJ D YDOLG SKRWR ,' WR DOO 'LVWULFW HOHFWLRQV DV WKH\ PD\ EH DVNHG WR VKRZ SURRI RI QDPH DQG RU DGGUHVV

ZLVK KHU D

9RWHU 4XDOLILFDWLRQV ‡ $ YRWHU PXVW EH D FLWL]HQ RI WKH 8QLWHG 6WDWHV ‡ $ YRWHU PXVW EH HLJKWHHQ \HDUV RI DJH RU ROGHU ‡ $ YRWHU PXVW EH D OHJDO UHVLGHQW ZLWKLQ WKH 'LVWULFW IRU D SHULRG RI WKLUW\ GD\V SUHFHGLQJ WKH HOHFWLRQ DW ZKLFK KH VKH RIIHUV WR YRWH ‡ $ YRWHU PXVW QRW EH RWKHUZLVH SURKLELWHG IURP YRWLQJ SXUVXDQW WR (GXFDWLRQ /DZ 6HFWLRQ

RQ 0DUFK WK

+DSS\ WK %LUWKGD\ /RYH 0RP -LO -HQQ

To be included in our new expanded

HOME IMPROVEMENT GUIDE to be published on March 18th, contact ANGOLA PENNYSAVER

19 Center Street, Angola • Ph: 549-1164 • Fax: 549-1611

EDEN-NORTH COLLINS PENNYSAVER 8603 South Main Street, Eden • Ph: 992-4625 • Fax: 992-3041

DERBY PENNYSAVER

6926 Erie Rd., Derby (Tops Plaza) • Ph: 947-5997 • Fax: 947-0114

$1*2/$ 3(11<6$9(5 0$5&+

9): 3267

(ULH 5RDG $QJROD 1 <

+,!* 0+ 0$! ,1 (%

UV %XUJH

'$,/< /81&+ 0(18 ZLWK 68%6 :,1*6

285 )$0286 +8*( %(() 21 :(&.

aaaaaaaaaaaaaaaaaa 683(5 ),6+ )5< )5,'$<n6 21/< $0 30 )5,

:H +DYH 7KH

W *UH D3ULFHVV 48((1 QN WDO 2) +($576 'ULDOO 5HQ :H DOVR KDYH + 6XEV

38// 7$%6 6TOP BY AND SEE US

($7 IN OR 7$.( 287

$OO DUH :HOFRPH SV 2SHQ 'DLO\ 0RQ 6DW 6RX 6HUYLQJ DP SP (;3(5,(1&(' &22.6 '5,9(56 :$17(' $SSO\ LQ SHUVRQ DW 3$7¶6 3,==(5,$ /DNH VKRUH 5RDG 3RLQW %UHH]H &$53(7 $1' 3$' %UDQG QDPHV :KROH VDOH SULFHV :K\ SD\ PRUH LQ +DPEXUJ" ³%X\ LQJ ORFDO KHOSV HYHU\ ERG\ ´ 7,0 0853+<

9(57,&$/6 )520 +($9(1 &XVWRP YHUWL FDOV ZRRG PLQL FHOOXODU VKDGHV )UHH HVWLPDWHV :( 5(17 52206 E\ WKH ZHHN RU WKH PRQWK &DOO IRU UDWHV :('1(6'$< /HQWHQ :RUVKLS SP DW +RO\ &URVV /XWKHUDQ &KXUFK &KXUFK 6W )DUQKDP

$1*2/$ 3(11<6$9(5 0$5&+

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

67 -8'(·6 129(1$ 0D\ WKH 6DFUHG +HDUW RI -HVXV EH DGRUHG JORULILHG ORYHG DQG SUHVHUYHG WKURXJK RXW WKH ZRUOG QRZ DQG IRU HYHU 6DFUHG +HDUW RI -HVXV SUD\ IRU XV 6W -XGH ZRUNHU RI PLUDFOHV SUD\ IRU XV 6W -XGH KHOSHU RI WKH KHOSOHVV SUD\ IRU XV 6D\ WKLV SUD\HU WLPHV D GD\ E\ WKH WK GD\ \RXU SUD\HU ZLOO EH DQVZHUHG +H KHDUG P\ UHTXHVW 0XVW SURP LVH SXEOLFDWLRQ 7KDQN \RX 6W -XGH ' +

&$2 :HHN 6XPPHU &DPS -XO\ $XJXVW 7DNLQJ DSSOLFDWLRQV QRZ ILHOG WULSV &RQWDFW +RSH 635,1* &/($1836 DQG 75(( 5(029$/ E\ 1,6$5,& <$5' 0$,17( 1$1&( $OVR *UDYHO 'H OLYHU\ ,QVXUHG 2ZQHU 2SHUDWRU 1LFN /DWLPRUH

%UDQW (YDQV *LUO 6FRXWV

WK <HDU &HOHEUDWLRQ $QQXDO )DPLO\ &DNH $XFWLRQ 7+( &20081,7< ,6 ,19,7(' 6XQGD\ 0DUFK WK 1RRQ S P /DNHVKRUH 5G $QJROD

&DNHV DXFWLRQHG DW S P VKDUS -RLQ XV DV ZH UH FUHDWH WKH ODVW GHFDGHV )DPLO\ HYHQW ZLWK JDPHV DQG HQWHUWDLQPHQW )RRG 7KHPH %DVNHW WLFNHWV DYDLODEOH WR SXUFKDVH

:('1(6'$< ³6283 (56´ SP GXULQJ /HQW DW +RO\ &URVV /XWKHUDQ &KXUFK &KXUFK 6W )DUQKDP 66666666666666666666666666666666 )25 5(17 6LOYHU &UHHN QHDU ,UYLQJ 1LFH EHG URRP ORZHU &DUSHWLQJ IXOO EDWK SOXV XWLOL WLHV 5HIHUHQFHV VHFX ULW\ 66666666666666666666666666666666

(9$16 -2$' $5&+(56 1(:6

2Q )HEUXDU\ PHPEHUV RI WKH (YDQV -U 2O\PSLFV WUDYHOHG WR 0HU FHU 3$ 7KH NLGV ZKR ZHQW ZHUH $ELH 6FLDUULQR .\OH /DWLPRUH %UHQGHQ :KHHOHU 0LWFK DQG %UHQGHQ 0F*DUULW\ DQG 'UHZ %UXHFNO 0HPEHUV DJDLQ ZHQW WR $OOLHG DQG VKRW IRU WKH 1<6 ,QGRRU &KDPSLRQVKLS RQ )HEUXDU\ ,Q WKH %RZPDQ &ODVV -DFH\ DQG -HURG $GGLVRQ WRRN QG SODFH &HOLQD 3DUN SODFHG UG ,Q WKH &OXE &ODVV

’4DEJG 3LNEJC ! .AS 9KQ“

7DNH RII SRXQGV VHQVLEO\ 7 2 3 6 2SHQ +RXVH 7XHVGD\ 0DUFK $0

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

6WDEHOO 6KRRW 5RQ %HUJXP WRRN VW 5RQ %HUJXP WRRN QG 3DP 6FLDUULQR WRRN VW %HU\O %HUJXP WRRN QG DQG $ELH 6FLDUULQR WRRN QG BBBBBBBB

$1*2/$ 3(11<6$9(5 0$5&+

48((1 2) +($576

$0(5,&$1 /(*,21 3267 VSHFLDO RI WKH ZHHN

+27 52$67 %(() 6$1':,&+

%DFN E\ SRSXODU GHPDQG

o7KH $UWLVDQV RI WKH &UXFLIL[LRQp +RO\ &URVV /XWKHUDQ &KXUFK &KXUFK 6W )DUQKDP 1<

:HGQHVGD\ 0DUFK WK :DWFK DV D %DVNHW 0DNHU LV IRUFHG WR PDNH D FURZQ RI WKRUQV 6RXS %UHDG 6XSSHU SP $UWLVDQ 3UHVHQWDWLRQ SP %($&+ +286( MXVW VWHSV WR VDQG\ EHDFK )RU VDOH E\ RZQHU EHG URRP EDWK /DNH %D\ &RPPXQLW\ 7KH EHVW %HDFK LQ :1< 1R PDLQ WHQDQFH MXVW XQORFN GRRU HQMR\ OHDYH PHVVDJH

)ULGD\ 0DUFK WK /LQGD 'HH 6DW 0DUFK WK -RH 7KH 6FKPRHV

(ULH 5RDG 'HUE\ 1 <

7$77226 %2'< 3LHUF LQJ +HDOWK 'HSDUWPHQW &HUWLILHG 1XPELQJ RLQW PHQW DYDLODEOH 6DYH ZLWK WKLV DG RQ WDWWRRV RQO\ DG SHU SHUVRQ +$0 %85* '(50$*5$3+,&6

72:1 2) (9$16

'2* )281'

/RVW 0DOH %HDJOH &$// (9$16 32/,&( $7 )25 ,1)250$7,21

3223(5 6&223(5 <RXU GRJ¶V ³SUHVHQWV´ FRYHULQJ \RXU \DUG RU WKHLU NHQQHO" &DOO WKH '2**,( 0$,' SHW ZDVWH UHPRYDO VHUYLFH :HHNO\ DQG RQH WLPH FOHDQ XSV 5HDVRQDEOH UDWHV /L FHQVHG DQG LQVXUHG + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +$//(77¶6 75(1&+ ,1* /DQGVFDSLQJ 8WLOL WLHV GUDLQDJH SUREOHPV GLWFKLQJ GULYHZD\V VHS WLF UHSDLUV EDVHPHQW ZDOOV SOXPELQJ ZDWHU LQVWDOODWLRQV + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + )25' ('*( 6( $ : ' $OO SRZHU HTXLS PHQW . PLOHV &DOO *UHJ DW H[W

'LVFODLPHU 7KH 3HQQ\ 6DYHU UHVHUYHV WKH ULJKW WR UHMHFW DQ\ PDWHULDO LW GHHPV WR EH LQDSSURSULDWH

$0(5,&$1 /(*,21 3267 (ULH 5RDG 'HUE\ 1<

12: 6(59,1* )8// /81&+(6 0RQ WKXUV )520 $0 30

,QFOXGLQJ 6XEV 5HXEHQV +RW 5RDVW %HHI 'LQQHU 6DODGV %HHI RQ :HFN )ULHG %RORJQD *ULOOHG &KLFNHQ 6DQGZLFK 7XQD 0HOW DQG PRUH

:((./< 63(&,$/6 0RQ 7XHV 7H[DV +RWV :HGQHVGD\ )UHVK %DNHG 7XUNH\ 6DQGZLFKHV 7KXUVGD\ /LPEXUJHU &KHHVH (9(5< )5,'$< ),6+ )5<

3/86 $ )8// ',11(5 0(18 $0 30

(9(5< 681'$< %5($.)$67 D P S P

6HUYLQJ 5LE 'LQQHU $// 'D\ (9(5< GD\

0RGHUQ %DQTXHW 5RRP $YDLODEOH )RU ZHGGLQJV VKRZHUV ELUWKGD\V EXVLQHVV PHHWLQJV IXQHUDOV $1< NLQG RI SDUW\ &DOO3DP IRU UHVHUYDWLRQV RU D WRXU

& -- +(,-

%8,/',1* 5(02'(/,1* $GGLWLRQV *DUDJHV 5RRILQJ 6LGLQJ

:LQGRZV )5(( (67,0$7(6 ,1685('

'HFNV .LWFKHQV %DWKV

7KH $QJROD 3HQQ\VDYHU KDV D QHZ (0$,/ $''5(66 DGV#DQJRODSHQQ\VDYHU FRP

ȱ ǯȱ ȱ ȱ

(;3(5,(1&(' $1' $))25'$%/( şśŚŚȱ ȱ ǯǰȱ

$1*2/$ 3(11<6$9(5 0$5&+

)4†3 ./4 4(% "53%3 )4†3 4!8%3

/DVW \HDU WKH WD[SD\HUV YRWHG GRZQ WKH EXVHV EHFDXVH ZH FDQ¶W YRWH GRZQ WKH EXGJHW ,I ZH GR WKH RQO\ UHVXOW LV WKDW D PLQRULW\ RI VWXGHQWV VWXG\LQJ FRXUVHV WKH DGPLQLVWUDWLRQ FRQVLGHUV ³XQQHFHVVDU\´ OLNH PXVLF WKHDWHU HWF JHWV SXQLVKHG 7KH EXGJHW GRHVQ¶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¶V OHDGHUVKLS IRU WKH LPSURYHPHQWV WKDW KDYH EHHQ PDGH EXW ZDQW WR VWDWH WKDW \RX KDYH MXVW VFUDWFKHG WKH VXUIDFH RI WKH UHGXFWLRQV WKDW DUH QHHGHG 1RZ ZH EHOLHYH WKH 'LVWULFW VKRXOG EX\ WKH EXVHV ZLWK RXU PLOOLRQ GROODU VDYHG UHVHUYHV IURP WKXV VDYLQJ WKH \HDU LQWHUHVW RQ ERUURZLQJ DQG WKHQ DSSO\ IRU WKH VWDWH DLG DQG UHSODFLQJ RXU UHVHUYHV ZLWK WKDW 6WDWH $LG ZH ZRXOG UHFHLYH RYHU WKH QH[W \HDUV 5HVXOW 1HZ EXVHV WUXFNV REWDLQHG 12 ,1&5($6( ,1 7$;(6 ,W LV XS WR WKH 927(56 9RWH DQG PDNH FHUWDLQ WKDW \RXU IULHQGV DQG QHLJKERUV YRWH <RXU YRWH FRXQWV LQ WKLV UHIHUHQGXP LW GRHVQ¶W UHDOO\ FRXQW LQ WKH PDLQ EXGJHW YRWH 7KH GLVWULFW GRHV QRW ORVH WKH RSSRUWXQLW\ WR SXUFKDVH WKH VFKRRO EXVHV ZKHQ ZH YRWH LQ 0D\ :H DJUHH RQ WKH QHHG EXW QRW WKH PHWKRG RI SD\LQJ RI WKH EXVHV 12 1(: 7$;(6 927( 21 7+,6 5()(5(1'80 21 0$5&+ WK

'5,9(56 $1' &22.6 :$17(' $SSO\ LQ SHUVRQ DW 3DW¶V 3L]]HULD /DNHVKRUH 5G $QJROD ::: 6287+72:163(11<6$9(5 &20

%$148(7 +$// (YDQV &HQWHU 9RO )LUH &R ,QF

(ULH 5RDG $QJROD $YDLODEOH IRU :HGGLQJ 5HFHSWLRQV 3DUWLHV 6PDOO /DUJH )XOO %DU DQG &DWHULQJ $YDLODEOH

)25' (;3/25(5 ;/7 ; $OO SRZHU HTXLSPHQW . PLOHV &DOO 6WHYH DW H[W )8//< 75$,1(' %ULWWDQ\ 6SDQLHO KRXVHEURNHQ TXLHW GRHV WULFNV GRHVQ¶W FKHZ $.& UHJ LVWHUHG PRQWKV ROG FHOO +(/3 :$17(' ([SHUL HQFHG FDUSHQWHU IRU QHZ KRPH IUDPLQJ

^`_^

(9$16 <287+ %$6(%$// /$67 &+$1&( ,1 3(5621 5(*,675$7,21 (YDQV &HQWHU )LUH +DOO 7XHVGD\ 0DUFK WK SP SP 21/,1( 5(*,675$7,21 ,6 67,// $9$,/$%/( (<% LV KDSS\ WR DQQRXQFH WKH RSSRUWXQLW\ WR UHJLVWHU \RXU FKLOG RQOLQH *R WR WKH (<% ZHEVLWH DW KWWS ZZZ HYDQV\RXWKEDVHEDOO FRP DQG FOLFN RQ WKH GHPRVSKHUH OLQN OLVWHG XQGHU 6,7( 3$*(6 7KLV LV D VDIH DQG VHFXUH ZD\ WR EH VXUH \RXU FKLOG LV UHJLVWHUHG DFFXUDWHO\ DQG RQ WLPH

/DWH IHH :$,9(' RQOLQH DQG DW ODVW FKDQFH UHJLVWUDWLRQ WKURXJK 0DUFK WK 3/$<(5 (/,*,%,/,7< %R\V \HDUV RI DJH DV RI 0D\ VW *LUOV \HDUV RI DJH DV RI 'HFHPEHU VW

5(*,675$7,21 &267

IRU RQH FKLOG SHU SOD\HU VSHFLDO UDWH IRU 7HH %DOO 3HH :HH

IRU WZR FKLOGUHQ IRU WKUHH RU PRUH FKLOGUHQ

27+(5 )((6

SHU IDPLO\ IRU ERRN RI UDIIOH WLFNHWV SHU IDPLO\ YROXQWHHU IHH %ULQJ D VHSDUDWH FKHFN ,W ZLOO EH UHWXUQHG WR \RX LI \RX YROXQWHHU

ODWH IHH ZLOO EH VWULFWO\ HQIRUFHG DIWHU 0DUFK WK

)RU PRUH LQIRUPDWLRQ FDOO RU

:H DUH FHOHEUDWLQJ RXU

WK <($5

/$.( (5,( %($&+ 92/817((5 ),5( &2 ,1&

),6+ )5,(6

(9(5< )5,'$< 3 0 3 0 )25 /(17 )8// %$5 $9$,/$%/(

FRPH HQMR\ WKH DPELDQFH RI RXU QHZO\ UHQRYDWHG KDOO

$)7(5 3 0 7$.( 2876 /DNH (ULH %HDFK LV H[SDQGLQJ WKHLU GHOLYHU\ DUHD WR LQFOXGH /DNH 6W XS 0DLQ 6W WR &RPPHUFLDO 5WH WR (YDQJROD 6WDWH 3DUN

PALMIERI PAVING LLC • • • • •

Blacktop Driveways Parking Lots Resurfacing Hot Patchwork Stone Driveways

FREE ESTIMATES

992-2414

INSURED

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

0($7 5$))/( %DNH 6DOH 6DWXUGD\ 0DUFK SP """ 1HZFRPE /RQJ $PHULFDQ /HJLRQ 3RVW (ULH 5RDG 'HUE\

5DIIOHV a 'UDZLQJV a )5(( $'0,66,21 &RPSOHPHQWDU\ IRRG DQG GULQN ZLOO EH VHUYHG 6SRQVRUHG E\ /DGLHV $X[LOLDU\

683(5 /2: $872 ,1 685$1&( 5$7(6 &DOO IRU D TXRWH WRGD\

'2'*( &800,16

(ULH 5RDG )ORZHU 'HUE\ 3OD]D

&ORVHG RQ 6XQGD\ :HGQHVGD\

)5(( &2))(( &22.,(6 0$5&+ 63(&,$/6

&RPH 7U\ 8V :H DUH *RRG

-

:DVK &XW :HW &XW (\HEURZ :D[

:DON LQV RU $SSRLQWPHQW

9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 32',$75,67 '$9,' 3 921$ ' 3 0 6HQHFD 5G ,UYLQJ DFURVV IURP /DNH 6KRUH +RVSLWDO (5 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 9 '8,1. )$506 0$5.(7 +LFNR[ 5G +DP EXUJ VW 5LJKW SDVW %UD\PLOOHU¶V RII 5W 6RXWK 3RUN /DPE &KLFNHQ JUDVV IHG EHHI 9HJHWDEOHV (JJV $QWL ELRWLF DQG KRUPRQH IUHH ³.QRZ ZKR UDLVHV \RXU IRRG ´ 0DUNHW KRXUV :HGQHVGD\ SP 6DWXUGD\ SP

! (%*! 0$1./ 5 0 *++* #?N SIOL ;>P?LNCMCHA CH ?;LFS

$1*2/$ 3(11<6$9(5 0$5&+

%86,1(66 ',5(&7 25 < ',5(&725 25<

!JCKH= O #DEJ= +EP?DAJ 1 0DLQ 6W $QJROD ‡ 1RZ RSHQ 6XQGD\V QRRQ SP

1(: &22.

/XQFK 6SHFLDOV FRPH ZLWK )5(( &$1 2) 62'$ (YHU\ 2UGHU RYHU JHW )5(( /,7(5 323 %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% %$57(1'(56 :$,767$)) ZDQWHG LQ WKH /DNHYLHZ +DPEXUJ DUHD ([SHULHQFHG 3OHDVH FDOO RU DIWHU SP %%%%%%%%%%%%%%%%%%%%%%%%%%%%%%%% )25 6$/( +27 :$7(5 7$1.6 DW 6+8/7= &2 /RZ SULFHV ,QVWDOODWLRQ DYDLODEOH

'5,9(5 :$17(' :HHNOH\¶V :KROHVDOH %DLW &'/ % 5HTXLUHG ,PPHGLDWH 2SHQLQJ 6RPH 2YHUQLJKWV '(5%< %('5220 /X[XU\ DSW VT IW 1HZO\ 5HQRYDWHG $& VWDLQOHVV DSSOLDQFHV LQ XQLW ODXQGU\ FRYHUHG SD WLR JDUDJH PRQWK

,7¶6 127 722 /$7( &RPH WR WKH ILUVW VHVVLRQ )5(( 'DYH 5DPVH\ )L QDQFLDO 3HDFH 7XHVGD\ 0DUFK 25 7KXUVGD\ 0DUFK SP )RU IXOO VHVVLRQV \RX FDQ SXUFKDVH PDWHULDOV DIWHU FODVV 'LVFRXQW DYDLO DEOH 5693 0D[LQH

3OHDVH *HW <RXU $GV ,Q (DUO\

'*4) '3: 1257+ (9$16 92/ ),5( &203$1< 9HUVDLOOHV 3ODQN 5RDG /(17(1 ),6+ )5<6 'LQH LQ RU WDNH RXW a SP $GXOWV )LVK RU 6KULPS 'LQQHU .LGV 6NLQOHVV )LVK RU &KLFNHQ )LQJHU 'LQQHU 'LQQHU ,QFOXGHV )ULHV $OO <RX &DQ (DW 6DODG %DU &RIIHH 7HD &DVK %DU $YDLODEOH %HHU RU :LQH

7KH 0HQ DQG :RPHQ RI WKH 1RUWK (YDQV )LUH &RPSDQ\ 7KDQN \RX IRU \RXU FRQWLQXHG VXSSRUW

7KH $QJROD 3HQQ\VDYHU KDV D

1(: (0$,/ $''5(66 DGV#DQJRODSHQQ\VDYHU FRP !2 */ 5+10$ /! ((

EHHU EODVW

%((5 323 61$&.6 6DWXUGD\ 0DUFK SP SP

&DVWDZD\V %DU *ULOO 'RQDWLRQ 3URFHHGV WR %HQHILW WKH (<% %DWWLQJ &DJH )XQG 7LFNHWV $YDLODEOH DW WKH GRRU RU FDOO

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

0$5&+

/$.( (5,( %($&+ 92/817((5 ),5( &2 35(6(176

6$785'$< 0$5&+ 30 30 /DNH (ULH %HDFK 9ROXQWHHU )LUH &R /DNH 6KRUH 5RDG $QJROD

&DVK %DU q 6QDFNV 7LFNHWV HDFK )RU WLFNHWV FDOO RU VWRS LQ WKH FOXE URRP ‹‹‹‹‹‹‹‹‹‹‹‹‹‹ :,17(5 ,6 %$5*$,1 7,0( 7DNH DGYDQWDJH RI RXU ORZ ZLQWHU UDWHV +DYH WKRVH XQVDIH WUHHV UH PRYHG RU WULPPHG E\ RXU SURIHVVLRQDO IXOO\ HTXLSSHG WUHH VHUYLFH &HUWLILHG DUERULVW RQ HYHU\ MRE 6HUYLQJ 6RXWK WRZQV IRU RYHU \HDUV )UHH HVWLPDWHV )XOO LQ VXUDQFH FRYHUDJH -$0(6 6(59,&(6 ‹‹‹‹‹‹‹‹‹‹‹‹‹‹ )25 5(17 %UDQW 7KUHH EHGURRP DSDUWPHQWV ZLWK DSSOLDQFHV PRQWK SOXV XWLOLWLHV 5HI HUHQFHV DQG VHFXULW\ 1R SHWV /<1'$ 0$621 %URNHU

+($7(' %,5' %$7+6 *DUGHQ 6WDWXHV IRXQ WDLQV ZLQG FKLPHV JDU GHQ JLIWV 6HH %DFN 3DJH %(//$ 7(55$ *5((1+286( )25 6$/( *DXJH 5H ORDGHU ZLWK VXSSOLHV &DOO -(:(/5< %< 63(1&( EX\V JROG GLDPRQGV DQG ZDWFKHV )/25,'$ &$56 5XVW IUHH &DOO '$9( %$//

+$6 <285 3(11< 6$9(5 %2; 6867$,1(' '$0$*(" ,?HHS /

;P?L

6WRS E\ WKH 3HQQ\ 6DYHU RIILFH DQG SLFN RQH XS )5(( 2) &+$5*(

$1*2/$ DQG ('(1 1257+ &2//,16 3(11<6$9(56

7KH &XWWLQJ %ORFN &RORU &XWV 6 0DLQ 6WUHHW (GHQ 1<

-

0$5&+

1(: ([SU HVV ([SUHVV +DLU &RORULQJ 5RR WV %ORZ 'U\ 5RRWV %ORZ 'U\

5RRILQJ 6LGLQJ

6HUYLQJ DOO RI :HVWHUQ 1<

-

³4XDOLW\ +HDOWKFDUH :KHUH &DULQJ &RPHV )LUVW´

3URXGO\ LQVWDOOLQJ DOO /LFHQVHG ,QVXUHG $PHULFDQ SURGXFWV )UHH (VWLPDWHV 2YHU SUREOHP IUHH URRIV LQVWDOOHG LQ

0HORG\ 0HDGRZV +RJJ %XLOGHUV +RPH 6DOHV

'(5%< 2873$7,(17 &+(0,&$/ '(3(1'(1&< 352*5$0

(ULH 5G 3 2 %R[ 'HUE\ 1< 7UDQVSRUWDWLRQ $YDLODEOH

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& &+,&.6 $55,9,1* 0DUFK WK 3UH RUGHU 7R GD\ &/<'(¶6 &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& &$53(7 83+2/67(5< &/($1,1* &RPPHU FLDO UHVLGHQWLDO 1R FKDUJH IRU VDQLWL]HU GHRGRUL]HU RU SURWHFWRU ' . 6(59,&(6 -LP DW

&20387(5 5(3$,5 &DOO 1(7:25. &2168/7,1* *5283 2) :1< +DYLQJ SUREOHPV ZLWK \RXU 3&" 5HPRYDO RI VS\ZDUH YLUXVHV JXDUDQWHHG WR VSHHG XS \RXU FRPSXWHU *R ZLWK D FRPSDQ\ \RX FDQ WUXVW :H DUH ORFDO DQG FDQ WDNH FDUH RI DQ\ SUREOHP 2QH RI WKH ODUJHVW FRPSDQLHV LQ WKH VRXWKWRZQV ZLWK RYHU \HDUV H[SHULHQFH 0LFURVRIW FHUWLILHG WHFKQLFLDQ $OO ZRUN JXDUDQWHHG &KHFN XV RXW RQOLQH ZZZ QFJZQ\ FRP 5HJLVWHUHG SDUWQHUV ZLWK 'HOO :H ZRUN RQ DOO FRPSXWHUV

&DOO XV DW

&/$''$*+ &200,66,21 ,1& +DV D 9DULHW\ RI )XOO 7LPH 3DUW 7LPH 5HOLHI 3RVLWLRQV $YDLODEOH

1(: 86('

&ODGGDJK LV D QRW IRU SURILW KXPDQ VHUYLFH DJHQF\ WKDW SURYLGHV VXSSRUW WR SHRSOH ZLWK GHYHORSPHQWDO GLVDELOLWLHV ORFDWHG LQ WKH VRXWKHUQ WLHU RI :HVW HUQ 1HZ <RUN :H DUH FXUUHQWO\ VHHNLQJ PRWLYDWHG LQGLYLGXDOV WR ILOO WKH IROORZLQJ SRVL WLRQV

7UDGH LQV :HOFRPH

VKLIWV

5RXWH $QJROD 1< ‡

+8' 02'8/$5 +20(6

),5(:22' 6HDVRQHG FKHUU\ DLU GULHG PRQWKV ¶[ ¶[ ´ +DUGZRRG IDFH FRUG 8QVHDVRQHG PL[HG KDUGZRRG 7KUHH FRUG PLQLPXP

‡ $VVHVVPHQWV ':, (YDOXDWLRQV 7UHDWPHQW ‡ :RPDQ¶V *URXS ‡ $GXOW $GROHVFHQW &RXQVHOLQJ

³/(7 7+( (;3(576 +$1'/( ,7 ´ '- )$/&2 ORRNLQJ IRU SDUWLHV WR OLYHQ XS :LOO SOD\ DQ\WKLQJ 5HDVRQ DEOH UDWHV &DOO WH[W $// 7<3(6 2) &21 &5(7( :25. 'ULYH ZD\V IORRUV SDWLRV HWF 'XPS WUXFN EDFNKRH EREFDW VHUYLFH

:H XVH *ROGZHOO FRORUV :D[LQJ a a 3HUPV

%('5220 /2:(5 $3$570(17 )25 5(17 ,QFOXGHV DSSOLDQFHV SOXV XWLOLWLHV 6HFX ULW\ UHIHUHQFHV QR SHWV OHDVH UHTXLUHG &DOO IRU DSSRLQWPHQW $YDLODEOH QRZ

$ 5DWHG

&+(9< 83/$1' (5 . PL DXWR FUXLVH &' QHZ WLUHV EUDNHV H[ FRQGLWLRQ PXVW VHOO DVNLQJ )25 5(17 [ QHZ SROH EDUQ Z HOHFWULF 6WXU JHRQ 3W 5G 'HUE\ +DV SULYDWH GULYHZD\

1(: +2856 7XHV :HG 7KXUV )UL 6DW

5DQFK &DSH 6WRU\ 21 <285 /27 25 2856

)I>?FM IH CMJF;S 2SHQ 0RQGD\ )UL

%< $332,170(17 $1<7,0(

‡ )7 37 5HOLHI +DELOLWDWLRQ 6SHFLDOLVW IRU HYHQLQJ RYHUQLJKW

‡ &RPPXQLW\ +DE 6SHFLDOLVW %HVLGHV JUHDW EHQHILWV VXFK DV SDLG WLPH RII <RX ZLOO HQMR\ UHZDUGLQJ ZRUN IXOILOOLQJ OLYHV RI WKRVH LQ QHHG RI VRPH VXSSRUWV WR OLYH LQGHSHQGHQW OLYHV ZLWK LQ RXU FRPPXQLW\ 0LQLPXP 5HTXLUHPHQWV ,QFOXGH 0XVW EH DW OHDVW KHDUV RI DJH +ROG D YDOLG 1< 6WDWH 'ULYHU¶V /LFHQVH +DYH D +LJK 6FKRRO GLSORPD RU *(' $33/< ,1 3(5621 (ULH 5RDG 'HUE\ 1 < 0 ) D P S P (2(

$1*2/$ 3(11<6$9(5 0$5&+

'RQ·W OHW RXUQDPH IRRO \RX

$77(17,21

$1*2/$ 3(11< 6$9(5 +2856

'HUE\ 6XSHU )UHH]H 'ULYH ,Q ·V )$0,/< 5(67$85$17

620(7+,1* 72 &216,'(5 :+(1 6(//,1* <285 *2/' 2/' -(:(/5< ',$021'6 &2,16 &2//(&7,%/(6 (7& <RX DOZD\V JHW WKH %(67 '($/ ZKHQ EX\LQJ RU VHOOLQJ ORFDOO\ 6KRS ZLWK WKH SHRSOH \RX FDQ WUXVW

(5,( 5' '(5%< 1<

23(1 '$<6 $7 $0

12: +,5,1*

*UHDW )RRG 2IIHUHG GDLO\ &KLFNHQ ),QJHUV ‡ %HHI RQ :HFN )ULGD\ )LVK )U\ ‡ +DPEXUJHUV ‡ )ULHG 'RXJK ‡ :DUG\QVNL +RW 'RJV ‡ 1HZ %%4 5LE 6DQGZLFK

)ODYRU RI WKH :HHN &DUURW &DNH 683(5)5((=('5,9(,1 &20 7$.( 2876 $9$,/$%/(

&+,/' &$5( 0RQGD\ )ULGD\ *UHDW UHIHUHQFHV ORWV RI 7/& *5$0$ :(//6

%8,/',1* )25 5(17 RQ 5RXWH (ULH 5G $QJROD VT IW PRQWK

$17+21< - %$521( -5 $WWRUQH\ DW /DZ

- / -HZHOHUV 5RXWH 'HUE\ ‡

$1*2/$ 2)),&( 23(1 0RQ 7KXUV )ULGD\ &/26(' 6DW 6XQ aaaaaaaaaaaaa '(5%< 2)),&( 23(1 0RQ 7KXUV &/26(' )UL 6DW 6XQ

3/($6( *(7 <285 $'6 ,1 ($5/<

5HDO (VWDWH :LOOV (VWDWHV %XVLQHVV 3UDFWLFLQJ ODZ IRU RYHU \HDUV LQ DVVRFLDWLRQ ZLWK 6HURWWH 5HLFK :LOVRQ

&RS\ULJKW ‹ $QJROD 3HQQ\6DYHU ,QF

$OO ULJKWV UHVHUYHG $OO DGYHUWLVLQJ QHZV DQG JUDSKLF PDWHULDO DUH WKH SURSHUW\ RI WKH $QJROD 3HQQ\6DYHU DQG FDQQRW EH XVHG ZLWKRXW ZULWWHQ FRQVHQW 7KH $QJROD 3HQQ\6DYHU UHVHUYHV WKH ULJKW WR UHIXVH RU HGLW DQ\ QHZV RU DGYHUWLVLQJ LW GHHPV WR EH LQDSSURSULDWH 7KH DGYHUWLVLQJ DQG QHZV LQ WKLV SXEOLFDWLRQ GRHV QRW QHFHVVDULO\ UHSUHVHQW WKH YLHZV RI WKH $QJROD 3HQQ\ 6DYHU LWV RZQHU RU HPSOR\HHV 7KH $QJROD 3HQQ\6DYHU LV SXEOLVKHG ZHHNO\ DW &HQ WHU 6WUHHW LQ $QJROD

/DNHVKRUH 5G $QJROD

6HUYLQJ &KHHVHFDNH &DUURW &DNH 0RUH

6WRS LQ IRU \RXU )5(( &DOHQGDU 0DJQHW

9,(: 285 (17,5( 0(18 21 ::: 3$763,==$ 1(7

'$,/< 63(&,$/6 0RQGD\ /DUJH &KHHVH 2QH 7RSSLQJ 3L]]D $GGLWLRQDO 7RSSLQJV HD

7XHVGD\ 2)) DQ\ 6WURPEROL RU &DO]RQH :HGQHVGD\ 2)) DQ\ SDVWD GLQQHU $OO SULFHV VXEMHFW WR FKDQJH ZLWKRXW QRWLFH DUH VXEMHFW WR VDOHV WD[

63(&,$/ 2) 7+( :((.

%%4 5,% 68%

*RRG WKUX

1R &RXSRQ 1HHGHG

'$,/< 63(&,$/6 7KXUVGD\ %X\ /DUJH 0HDW &KHHVH 7DFRV *HW )5(( )ULGD\ ),6+ )5< R] SLHFH RI EHHU EDWWHUHG KDGGRFN ZLWK IULHV FROHVODZ WDUWDU VDXFH NHWFKXS OHPRQ D GLQQHU UROO

$OO SULFHV VXEMHFW WR FKDQJH ZLWKRXW QRWLFH DUH VXEMHFW WR VDOHV WD[

$1*2/$ 3(11<6$9(5

0$5&+

1HZ $QJROD 7KHDWUH

1RUWK 0DLQ 6W 9LOODJH RI $QJROD ZZZ QHZDQJRODWKHDWHU FRP &RUSRUDWLRQV %XVLQHVV )RUPDWLRQV DQG $GYLFH 5HDO (VWDWH &ORVLQJV :LOOV (VWDWHV &RUSRUDWH %DQNUXSWF\ 3DWHQWV 7UDGHPDUNV 3HUVRQDO ,QMXU\ &RPPHUFLDO /LWLJDWLRQ

3KLOOLS %URWKPDQ $QGUHZ <XVLFN

0DUFK QG WKUX 0DUFK WK

'U 6HXVV¶ 7KH /RUD[ LQ ' 5DWHG 3*

)UL # SP 6DW # SP SP SP 6XQ # SP 0RQ # SP 7XHV # DP

0DUFK WK WKUX 0DUFK WK

'U 6HXVV¶ 7KH /RUD[ LQ ' 0RYLHV VKRZWLPHV DQG WLFNHW SULFHV VXEMHFW WR FKDQJH ZLWKRXW SULRU QRWLFH

aaaaaaaaaaaaaaaaaaaa

&?Q?FLS S /J?H=? ř ȱǭȱŚ ȱ ȱ ȱ ȱ ȱ ȱ ȱ

¢ȱ

aaaaaaaaaaaaaaaaaaaa

aaaaaaaaaaaaaaaaaaaaaaaaaaa

6725( +2856 6XQ 0RQ &ORVHG 7XHV :HG DP SP 7KXUV )UL DP SP 6DW DP SP

şŚŝȬşşřŜ

ŜŞŗŞȱ ȱśǰȱ ¢ǰȱ ȱȱŗŚŖŚŝ

aaaaaaaaaaaaaaaaaaaaaaaaaaa )RU )$;(6 /$0,1$7,216

&23,(6

(ULH 5G 5RXWH $QJROD 1< <HDUV ZLWK *RRG $GYLFH *RRG 3URGXFWV *RRG 3ULFHV *RRG 6HUYLFH *RRG (PSOR\HHV *RRG 6XSSOLHUV *RRG &XVWRPHUV

:+,7( 3,1( 0,1:$; 67$,1 ,$06 3(7 )22' 18752 3(7 )22' 35$77 /$0%(57 3$,17 .5</21 3$,17

6WRS LQ WR WKH $1*2/$ 3(11< 6$9(5

('(1 385( +($7(56 :22' 3(//(76 ,&( 0(/7 52&. 6$/7 75($7(' /80%(5 522) 5$.(6 612: 6+29(/6

$OO DW %DUJDLQ 3ULFHV ZZZ VDPVOXPEHU FRP

&HQWHU 6WUHHW $QJROD 1<

"FIQ?LCHA 5 ( )!* ,( *0/ @LIG

/0. 3 /$ 2%*#/ ,%*! 3++ ,!((!0/

F< <;A *;NOL?§M BIC=? 3CF> CL> "II>

063

○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○

ZZZ

%HOOD 7HUUD *UHHQKRXVH

)(('6

1RUWK 0DLQ 6WUHHW $QJROD 23(1 23(1 0RQGD\ 6DWXUGD\

FRP

Turn static files into dynamic content formats.

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