5LQJD￿XSS￿UVWPHGGHODQGHWMlQVWHQ‡+nOO￿NQDSSHQ￿￿￿LQWU\FNW￿L￿YlQWHOlJH￿

‡%OlGGUD￿WLOO￿0HGGHODQGHQ￿￿<(6￿￿5LQJUVWPHGG￿￿<(6￿

bQGUD￿PHGGHODQGHVLJQDOHQ

￿￿%OlGGUD￿WLOO￿0HGGHODQGHQ￿￿<(6￿￿$OWHUQDWLY￿￿<(6￿ 0HGGHOVLJQDO￿￿<(6￿

￿￿0DUNHUD￿HQ￿VLJQDO￿RFK￿WU\FN￿Sn￿<(6￿6DPWDOVWLGRFKVDPWDOVNRVWQDG

.RQWUROOHUD￿VDPWDOVWLGHQ￿IU￿GHW￿VHQDVWH￿

VDPWDOHW

‡%OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVWLG￿￿ <(6￿￿6HQDVWHVDPWDO￿￿<(6￿ 'X￿NDQ￿lYHQ￿NRQWUROOHUD￿WLGHQ￿IU￿XWJnHQGH￿

VDPWDO￿RFK￿GHQ￿WRWDOD￿VDPWDOVWLGHQ￿1ROOVWlOOD￿GHQ￿WRWDOD￿VDPWDOVWLGHQ

￿￿ %OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVWLG￿￿<(6￿￿ cWHUVWlOOWLG￿￿<(6￿

￿￿0DUNHUD￿7RWDOWLG￿HOOHU￿8WJnHQGHWLG￿RFK￿WU\FN￿Sn￿<(6￿

.RQWUROOHUD￿NRVWQDGHQ￿IU￿GHW￿VHQDVWH￿VDPWDOHW

‡%OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVNRVWQDG￿￿<(6￿￿ 6HQDVWHVDPWDO￿￿<(6￿

.RQWUROOHUD￿GHQ￿WRWDOD￿VDPWDOVNRVWQDGHQ

‡%OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVNRVWQDG￿￿<(6￿￿ 7RWDONRVWQDG￿￿<(6￿

1ROOVWlOOD￿GHQ￿WRWDOD￿VDPWDOVNRVWQDGHQ

￿￿ %OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVNRVWQDG￿￿<(6￿￿ cWHUVWlOONRVWQ￿￿<(6￿

￿￿7U\FN￿Sn￿<(6￿IU￿DWW￿EHNUlIWD￿LQVWlOOQLQJHQ￿6WlOODLQVDPWDOVNRVWQDG

'X￿NDQ￿DQYlQGD￿IXQNWLRQHQ￿7D[DIU￿DWW￿VSHFLILFHUD￿ SULV￿SHU￿PDUNHULQJ￿￿'HW￿DQJLYQD￿SULVHW￿VSDUDV￿Sn￿ 6,0￿NRUWHW￿

$QJH￿HWW￿SULV￿SHU￿VDPWDOVPDUNHULQJ

￿￿%OlGGUD￿WLOO￿6DPWDOVLQIR￿￿<(6￿￿6DPWDOVNRVWQDG￿￿<(6￿￿ $QJHWD[D￿￿<(6￿

￿￿$QJH￿GLQ￿3,1￿￿NRG￿RFK￿WU\FN￿Sn￿<(6￿￿￿0DUNHUD￿bQGUDWD[D￿RFK￿WU\FN￿Sn￿<(6￿

￿￿$QJH￿YDOXWDQ￿GX￿YLOO￿KD￿￿WLOO￿H[HPSHO￿6(.￿￿IU￿ VYHQVND￿NURQRU￿RFK￿WU\FN￿Sn￿<(6￿

￿￿$QJH￿SULV￿SHU￿PDUNHULQJ￿￿WLOO￿H[HPSHO￿￿￿￿￿￿￿RFK￿WU\FN￿

Sn￿<(6￿￿7U\FN￿Sn￿￿IU￿DWW￿PDWD￿LQ￿GHFLPDOWHFNHQ￿

5LQJD