MP Audiobookiba_Flat

Największy wybór audiobooków dla dzieci































Zasłuchaj się w książkach!






www.audiobookiba.pl






ul. Marszałkowska 104/122 | 00-017 Warszawa | tel. 518-539-492, [email protected]

9[FCYPKEVYQ $KDNKQVGMC #MWUV[E\PC \QUVCQ WVYQT\QPG Y TQMW 5RGELCNK\WLG UKɂ Y
RWDNKMQYCPKW CWFKQDQQMȡY \CTGLGUVTQYCP[EJ \CTȡYPQ PC R[VCEJ %& LCM K Y HQTOKG RNKMW /2 FQ
RQDTCPKC 9 QHGTEKG $KDNKQVGMK #MWUV[E\PGL QFPCLFȰ RCɧUVYQ MNCU[Mɂ NKVGTCVWT[ QTC\ YURȡE\GUPG
JKV[ NKVGTCVWT[ MTCLQYGL K \CITCPKE\PGL 9[FCYPKEVYQ RWDNKMWLG Y U\E\GIȡNPQɺEK HCPVCUV[Mɂ
MT[OKPC[ NKVGTCVWTɂ QD[E\CLQYȰ QTC\ NKVGTCVWTɂ FNC F\KGEK K OQF\KGʝ[ 9 MCVCNQIW RTQFWMVȡY
PCVTCƓȰ RCɧUVYQ TȡYPKGʝ PC RQTCFPKMK DKQITCƓG K UWEJQYKUMC $QICVC K TȡʝPQTQFPC QHGTVC
RQ\YCNC VTCƓCȲ FQ TȡʝP[EJ ITWR UWEJCE\[ K \CURQMCLCȲ PCLDCTF\KGL Y[OCICLȰEG IWUVC





































9ɺTȡF NGMVQTȡY E\[VCLȰE[EJ FNC 9[FCYPKEVYC \PCLFWLȰ UKɂ OKɂF\[ KPP[OK #PPC &GTGU\QYUMC
,CTQUCY $QDGTGM -T\[U\VQH 6[PKGE -C\KOKGT\ -CE\QT 2KQVT (TQPE\GYUMK ,CPWU\ <CFWTC 4QEJ
5KGOKCPQYUMK QTC\ YKGNW YKGNW KPP[EJ
1F TQMW $KDNKQVGMC #MWUV[E\PC LGUV E\ɂɺEKȰ 8KTVWCNQ
PCLYKɂMU\GIQ F[UVT[DWVQTC VTGɺEK E[HTQY[EJ GDQQMȡY
K CWFKQDQQMȡY Y HQTOKG RNKMȡY OR PC RQNUMKO T[PMW




YYY CWFKQDQQMKDC RN






WN /CTU\CMQYUMC ^ 9CTU\CYC ^ VGN
G OCKN UMNGR"DKDNKQVGMCCMWUV[E\PC RN

#PKC \ <KGNQPGIQ 9\IȡT\C

#PKC OC NCV RQOKGPPKG TWFG YQU[ K PKG\[ EJCTCMVGTGMК
9CɺPKG QRWU\E\C UKGTQEKPKGE K PCTGU\EKG Y[TWU\C FQ VCM FWIQ
Y[E\GMKYCPGIQ PQYGIQ FQOW 0C OKGLUEW QMC\WLG UKɂ LGFPCM
ʝG \CU\C RQO[MCų /CT[NC %WVJDGTV K LGL DTCV /CVGWU\ EJEKGNK
RT\[ICTPȰȲ RTCEQYKVGIQ EJQREC C PKG R[UMCVȰ F\KGYE\[PMɂ
MVȡTGL E\CUCOK PKG Y[EJQF\Ȱ PCYGV PCLRTQUVU\G FQOQYG
E\[PPQɺEK


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP





#NƓG $NQQO K VCLGOPKEG \COMW *GZDTKFIG

'MUE[VWLȰEC QRQYKGɺȲ Q OCIKK PKG\Y[MGL RT\[IQF\KG Kų
VCLGOPKE\[O F\KGF\KEVYKG ʜ[EKG #NƓG $NQQOC LGUV OQPQVQPPG
/QPQVQPPG K UCOQVPG 9U\[UVMQ VQ \OKGPKC UKɂ IF[ \QUVCLG QP
YG\YCP[ FQ DKWTC VCLGOPKE\GIQ RTCYPKMC K F\KGF\KE\[ \COGM
RGGP EWFȡY -W UYQLGOW QITQOPGOW \CUMQE\GPKW #NƓG
FQYKCFWLG UKɂ ʝG WTQF\K UKɂ Y V[O UCO[O \COMWų U\GɺȲUGV
NCV VGOW RQFE\CU OCIKE\PGIQ RT\GUMQMW E\CUW


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP




$CɺPKQDȡT

2KGTYU\G OKGLUEG PC NKɺEKG MUKȰʝMQY[EJ DGUVUGNNGTȡY FNC
F\KGEK Ů6JG 0GY ;QTM 6KOGUC К 2T\G\ YKGNG YKGMȡY
E\CTQF\KGLUMKG KUVQV[ WMT[YC[ UKɂ Y VCLGOP[O OKGLUEW
\YCP[O $CɺPKQDQTGO MVȡT[ LGUV F\Kɺ LGFPȰ \ QUVCVPKEJ
RT\[UVCPK RTCYF\KYGL OCIKK %\CTQF\KGLUMȰ! 1E\[YKɺEKG
'MUE[VWLȰEȰ! ,CUPG $G\RKGE\PȰ! %ȡʝ YCɺEKYKG YTɂE\
RT\GEKYPKG

&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP




%Q VQ \PCE\[ E\ K


Ů%Q VQ \PCE\[ųŭ K Ů2QYTȡV $CTVWUKCŭ TC\GOК %Q VQ \PCE\[ ŮE\WȲ
FQ MQIQɺ OKɂVɂŭ E\[ ŮOKGȲ MKGDKG YG DKGŭ! Ů6C MUKȰʝMC
VWOCE\[ \PCE\GPKG TȡʝP[EJ F\KYP[EJ RQYKGF\Gɧ ť
RQYKGF\Gɧ MVȡTG O[ FQTQɺNK PC\[YCO[ \YKȰ\MCOK
HTC\GQNQIKE\P[OK $G\ QDCY PKG LGUV VQ ʝCFGP PWFP[
RQFTɂE\PKM ť PC RGYPQ ɺYKGVPKG WDCYKEKG UKɂ UWEJCLȰE
Q RGT[RGVKCEJ $CTVWUKC

&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP

$KDNKLPG QRQYKGɺEK

-VQ RKGTYU\[ QRQYKCFC PCO Q ,G\WUKG K WE\[ OQFNKVY[ FQ
#PKQC 5VTȡʝC! 1E\[YKɺEKG $CDEKG K /CO[ OȰFTG UVTCʝPKE\MK
VTCF[ELK K YKCT[ 9 \DKQT\G 1RQYKGɺEK DKDNKLPG Q ,G\WUKG RKɂMPKG
WE\[ -CVCT\[PC ŒCPKGYUMC 2TQUV[O Lɂ\[MKGO K EKGR[O
IQUGO QRQYKCFC F\KGEKQO RT\[RQYKGɺEK -CʝFC \ PKEJ VQ
PKG\Y[MC RT\[IQFC RQFE\CU MVȡTGL F\KGEK RT\GPQU\Ȱ UKɂ
Y QFNGIG E\CU[ D[ RQ\PCȲ K \TQ\WOKGȲ PCWE\CPKG %JT[UVWUC


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP






&[PCUVKC /K\KQMȡY

2GT[RGVKG \PCPGL K NWDKCPGL TQF\KP[ /K\KQMȡY PCTGU\EKG
Y YGTULK CWFKQ Ů&[PCUVKC /K\KQMȡYŬ VQ DCTYPC WTQE\C
\CDCYPC QRQYKGɺȲ Q RGT[RGVKCEJ /K\KQMC /COKU\QPC
2CRKU\QPC -CU\[FC K /CGIQ 2QVYQTC E\[NK ECGL F[PCUVKK
/K\QMȡY 6Q RCOKɂVPKM EJQREC PC\[YCPGIQ RT\G\ OCOɂ
RKGU\E\QVNKYKG /K\KQMKGO



&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP




'OK K 6CLP[ -NWD 5WRGTF\KGYE\[P


'OK K 6CLP[ -NWD 5WRGTF\KGYE\[P PQYC UGTKC RT\G\PCE\QPC
FNC F\KGYE\[PGM Y YKGMW YE\GUPQU\MQNP[O K U\MQNP[O LWʝ
E\[VCLȰE[EJ DȰFʛ TQ\RQE\[PCLȰE[EJ Vɂ RT\[IQFɂ RTG\GPVWLG
RT\[IQF[ \CE\GTRPKɂVG YRTQUV \ ʝ[EKC OC[EJ NWF\K K RGYPȰ
JKUVQT[LMɂ MT[OKPCNPȰ MVȡTC FQFCLG QRQYKGɺEK GOQELK 'OK VQ
F\KGYE\[PMC VCMC LCM 6[К 9TC\ \ OCOȰ VCVȰ K NCDTCFQTGO
%\GMQNCFȰ OKGU\MC Y FWʝ[O OKGɺEKG Y FQOW 0C $CVGT[LEG
&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP





,CIC %\GMQNCFC K YCFE[ YKCVTW


&TWIK VQO RT\[IȡF U[ORCV[E\PGL ,CIK %\GMQNCF[ /KLC TQM QF
PKG\Y[M[EJ Y[FCT\Gɧ Y OKCUVGE\MW /KTGNNC K .WMTGELC
\COMPɂ[ UYQLȰ EWMKGTPKɂ K QFGU\[ Q PKGDG\RKGE\P[O OCIW
*GFKOKG UWEJ \CIKPȰ PCYGV +PFK IF\KGɺ \PKMPɂCų ,CIC
%\GMQNCFC RQYQNK \CE\[PC YKGT\[Ȳ ʝG YU\[UVMQ EQ UKɂ
Y[FCT\[Q D[Q V[NMQ Y[VYQTGO LGL Y[QDTCʛPK


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP

2Q\CɺYKCVQYE[ 6QO

,CUQP 9CNMGT E\ɂUVQ OCT\[ ʝGD[ ʝ[EKG UVCQ UKɂ QFTQDKPɂ OPKGL
RT\GYKF[YCNPG ť Cʝ FQ FPKC MKGF[ EQF\KGPPG QDQYKȰ\MK Y \QQ
URTCYKCLȰ ʝG ,CUQP RT\GPQUK UKɂ \ DCUGPW JKRQRQVCOC FQ
F\KYPGIQ ɺYKCVCų .[TKCP VQ OKGLUEG RGPG PKGDG\RKGE\GɧUVY
K Y[\YCɧ ť PKG RT\[RQOKPC PKE\GIQ \ E\[O ,CUQP \GVMPȰ UKɂ
FQ VGL RQT[ .WF\KG ʝ[LȰ VW Y UVTCEJW RT\GF PKME\GOP[O
E\CTPQMUKɂʝPKMKGO K EGUCT\GO Y LGFPGL QUQDKG /CNFQTGO


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP





-QEKG JKUVQTKG VT[NQIKC

6T\[ E\ɂɺEK -QEKEJ JKUVQTKK TC\GOК -QV[ PCLDCTF\KGL VCLGOPKE\G
K PKGRT\GYKF[YCNPG UVYQT\GPKC DCTF\Q E\ɂUVQ HCUE[PWLȰ
RKUCT\[ 2GYPKG FNCVGIQ RQYUVCQ V[NG ŮMQEKEJ QRQYKGɺEKŭ
,GɺNK V[ VGʝ LG NWDKU\ RQUWEJCL VGL U[ORCV[E\PGL MUKȰʝMK
*GTOCP <QƓC K )KGPGM VQ MQV[ OKGU\MCLȰEG Y FQOW &WʝGIQ
&Wʝ[ OC FQ PKEJ CPKGNUMȰ EKGTRNKYQɺȲ C LGIQ RWRKNG OPȡUVYQ
E\CUW K U\CNQP[EJ RQO[UȡY


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP




-CERGTKCFC


<CDCYPG JKUVQTKG MVȡTG RT\[RQOKPCLȰ Q V[O EQ
Y TQF\KEKGNUVYKG LGUV PCLRKɂMPKGLU\G ť ʝG E\CU URɂF\QP[
\ F\KGEMKGO PKIF[ PKG LGUV E\CUGO UVTCEQP[O 6GP CWFKQDQQM
VQ \DKȡT URQUQDȡY PC OCGIQ WTYKUC MVȡT[ \COɂE\C TQF\KEȡY
EKȰI[OK R[VCPKCOK U[U\[ Y[DKȡTE\Q VQ EQ EJEG WU[U\GȲ
K PKG WOKG WUKGF\KGȲ Y LGFP[O OKGLUEW


&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP





2T\[IQF[ 6QOMC 5CY[GTC

9[EJQY[YCP[ RT\G\ EKQVMɂ 6QOGM OKGU\MC Y OC[O
OKCUVGE\MW PCF T\GMȰ /KUUKUKRK 0KG RT\GRCFC \C U\MQȰ
K KPP[OK QDQYKȰ\MCOK DCTF\KGL EGPKȰE UQDKG YQNPQɺȲ
K PKG\CNGʝPQɺȲ RT\G\ EQ UVCLG UKɂ FNC EKQVMK EKȰI[O
WVTCRKGPKGO ʜ[YQ K DCTYPKG QRQYKGF\KCPC JKUVQTKC RGPC
\CUMCMWLȰE[EJ \YTQVȡY CMELK 2KɂMPC QRQYKGɺȲ Q RT\[LCʛPK
YQNPQɺEK K FQTCUVCPKW

&WIQɺȲ PCITCPKC
%GPC DTWVVQ 2.0 IQF\ OKP

/7<'7/ *+5614;%<0' /+#56# -4#-19#

DQ NGMELG JKUVQTKK PKG OWU\Ȱ D[Ȳ PWFPGų

/W\GWO *KUVQT[E\PG /KCUVC -TCMQYC VQ OKGLUEG FNC %KGDKGК 6Q 0QYQE\GUPG /W\GWO OKGLUMKG ::+
YKGMW MVȡTG Y MKNMWPCUVW QFF\KCCEJ QRQYKCFC JKUVQTKɂ -TCMQYC \ TȡʝP[EJ RGTURGMV[Y QF
ɺTGFPKQYKGE\C FQ E\CUȡY YURȡE\GUP[EJ 6W QFD[YCLȰ UKɂ PCLNGRU\G PCLEKGMCYU\G K CMV[YPG NGMELG
JKUVQTKKК 2Q\PCL PCU\Ȱ DQICVC QHGTVɂ GFWMCE[LPȰ CFTGUQYCPȰ FQ F\KGEK Y TȡʝP[O YKGMW



/W\GWO *KUVQT[E\PG /KCUVC -TCMQYC 2CCE -T\[U\VQHQT[
4[PGM )ȡYP[ -TCMȡY
%GPVTWO 1DUWIK <YKGF\CLȰE[EJ VGN


YYY OJM RN ^ KPHQ"OJM RN

24<'&5<-1.# + 5<-1Œ;



/W\GWO *KUVQT[E\PG /KCUVC -TCMQYC RTQRQPWLG U\GTQMK Y[DȡT NGMELK K YCTU\VCVȡY CFTGUQYCP[EJ FQ F\KGEK
PC MCʝF[O U\E\GDNW GFWMCELK \CE\[PCLȰE QF RT\GFU\MQNK MQɧE\ȰE PC WE\PKCEJ U\Mȡ RQPCFIKOPC\LCNP[EJ
#MV[YPC Y[OKCPC O[ɺNK RTCEC Y \CD[VMQY[EJ YPɂVT\CEJ RT\[ Y[MQT\[UVCPKW OW\GCNP[EJ TGMYK\[VȡY
URT\[LC TQ\YKLCPKW MTGCV[YPQɺEK RQDWF\C EKGMCYQɺȲ C RT\GFG YU\[UVMKO WYTCʝNKYKC OQF[EJ
WE\GUVPKMȡY \CLɂȲ PC RQ\PCYCPKG RKɂMPC VTCF[ELK MWNVWT[ K YKGNQYKGMQYGL JKUVQTKK -TCMQYC


9 EGNW FQMQPCPKC TG\GTYCELK NGMELK
YCTU\VCVȡY NWD URCEGTW PCNGʝ[
UMQPVCMVQYCȲ UKɂ \ YCɺEKY[O
QFF\KCGO /W\GWO *KUVQT[E\PGIQ
/KCUVC -TCMQYC Y MVȡT[O FQEGNQYQ
QFDɂFȰ UKɂ \CLɂEKC
0WWOGT[ MQPVCMVQYG QTC\ CFTGU[ G OCKN
0
\PCLF\KGEKG 2CɧUVYQ Y \CMCFEG
1&&<+#Œ;






%'00+-


NGMELG OW\GCNPG \ ITWRC
YCTU\VCV[ \ ITWRC
NGMELG Y VGTGPKG \ ITWRC
NGMELG Y U\MQNG \ ITWRC
QRTQYCF\CPKG RQ Y[UVCYCEJ UVC[EJ
\ ITWRC DKNGV YUVɂRW
QR QRTQYCF\CPKG RQ Y[UVCYCEJ

E\CUQY[EJ Y QFF\KCCEJ 2CCE RQF
-T\[U\VQHQT[ &\KGLG 0QYGL *WV[ K &QO
<YKGT\[PKGEMK \ ITWRC DKNGV
YUVɂRW
QRTQYCF\CPKG RQ Y[UVCYKG UVCGL
Y QFF\KCNG QFF\KCNG (CDT[MC 'OCNKC 1UMCTC
Y
5EJKPFNGTC ť WUWIC Y EGPKG DKNGVW
WUWIC RT\GYQFPKMC Y QFF\KCNG
2QF\KGOKC 4[PMW \ ITWRC DKNGV
YUVɂRW
\CLɂEKC \ -T\[U\ \CLɂEKC \ -T\[U\VQHQTMKGO NWD

&QTQVMȰ MQU\V YCTU\VCVȡY \ \C
WF\KC CMVQTC QF ITWR[
















YYY OJM RN

41&<+%' < &<+'ȱ/+



<CDCYC MVȡTC WE\[ VQ JCUQ RT\GYQFPKG E[MNW URQVMCɧ FNC F\KGEK 9 KEJ VTCMEKG OCNK QFMT[YE[ RQ\PCLȰ
RQRT\G\ IT[ \CDCY[ URCEGT[ K URQVMCPKC YCTU\VCVQYG VCLGOPKEG K UGMTGV[ OCIKE\PGIQ -TCMQYC 0C
PCLOQFU\[EJ QFYKGF\CLȰE[EJ /W\GWO E\GMCLȰ Y EKȰIW TQMW TȡYPKGʝ KPPG EKGMCYG RTQRQ\[ELG VCMKG
EJQEKCʝD[ LCM HGTKG E\[ NCVQ Y OW\GWO

/7<'1/#0+# 9 MCʝF[O TQMW U\MQNP[O \CRTCU\CO[ PC E[MN \CLɂȲ FNC F\KGEK K OQF\KGʝ[ Y TCOCEJ
/W\GQOCPKK #MCFGOKC /CGIQ 1FMT[YE[ QTC\ #MCFGOKC /CGIQ 1FMT[YE[ ':64#К /C[ YKGNMK
-TCMȡY 6CLGOPKE\[ MWHGT 5Ȱ VQ MTGCV[YPG URQVMCPKC YCTU\VCVQYG QTC\ URCEGT[ OKGLUMKG %Q TQM
PQY[ RTQITCOК 9KɂEGL PC YYY OJM RN OW\GQOCPKC


#MCFGOKC /CGIQ 1FMT[YE[


2TQITCO FGF[MQYCP[ YU\[UVMKO IQFP[O YKGF\[ K YTCʝGɧ OC[O
QFMT[YEQO Y YKGMW NCV QTC\ KEJ TQF\KEQO MVȡT\[ Y CMV[YP[ K VYȡTE\[
URQUȡD RTCIPȰ RQ\PCYCȲ -TCMȡY Y[TCUVCLȰE V[O UCO[O PC RTCYF\KY[EJ
\PCYEȡY C \CTC\GO OKQɺPKMȡY LGIQ F\KGLȡY K MWNVWTQYGIQ F\KGF\KEVYC
2QFQDPKG LCM -T\[U\VQHQTGM K &QTQVMC ť DQJCVGTQYKG OW\GCNPGIQ E\CUQRKUOC
Ů-T\[U\VQHQTGMŭ ť MVȡT\[ YURȡNPKG \ F\KGȲOK WE\GUVPKE\Ȱ Y Y[DTCP[EJ \CLɂEKCEJ





/C[ YKGNMK -TCMȡY


%[MN OKGLUMKEJ URCEGTȡY FNC F\KGEK Y YKGMW ť NCV QTC\ KEJ TQF\KEȡY
6TCU[ K VGOCV[MC URCEGTȡY UȰ VCM RT\GO[ɺNCPG CD[ Y OQFU\[EJ WE\GUVPKMCEJ
Y\DWF\KȲ EKGMCYQɺȲ ɺYKCVC K \COKQYCPKG FQ QFMT[YCPKC VCLGOPKE -TCMQYC
9[EKGE\MK VTYCLȰ PKGEQ RQPCF IQF\KPɂ




6CLGOPKE\[ MWHGT

2TQITCO UMKGTQYCP[ FQ MTGCV[YP[EJ K EKGMCY[EJ ɺYKCVC OCNWEJȡY Y YKGMW
NCV QTC\ KEJ TQF\KEȡY MVȡT\[ RTCIPȰ YURKGTCȲ YU\GEJUVTQPP[ TQ\YȡL UYQKEJ
RQEKGEJ LWʝ QF PCLOQFU\[EJ NCV -CʝFG URQVMCPKG MQPEGPVTWLG UKɂ PC Y[DTCP[O
RT\GFOKQEKG ť ɺYKCFMW OKPKQP[EJ YKGMȡY K RQ\YCNC F\KGEKQO PC UVCYKCPKG
RKGTYU\[EJ MTQMȡY Y ɺYKGEKG RT\GU\QɺEK <CEJɂEC KEJ V[O UCO[O FQ
KPVGTCMV[YPGIQ RQ\PCYCPKC JKUVQTKK K MWNVWT[ -TCMQYC



#MCFGOKC /CGIQ 1FMT[YE[ ':64#К

2TQITCO FGF[MQYCP[ YU\[UVMKO IQFP[O YKGF\[
K YTCʝGɧ OC[O QFMT[YEQO QTC\ KEJ TQF\KEQO MVȡT\[
Y CMV[YP[ K VYȡTE\[ URQUȡD RTCIPȰ RQ\PCYCȲ -TCMȡY
Y[TCUVCLȰE V[O UCO[O PC RTCYF\KY[EJ \PCYEȡY
C \CTC\GO OKQɺPKMȡY LGIQ F\KGLȡY K MWNVWTQYGIQ
F\KGF\KEVYC 2QFQDPKG LCM -T\[U\VQHQTGM K &QTQVMC ť
DQJCVGTQYKG OW\GCNPGIQ E\CUQRKUOC Ů-T\[U\VQHQTGMŭ ť
M
MVVȡT\[ YURȡNPKG \ F\KGȲOK WE\GUVPKE\Ȱ Y Y[DTCP[EJ
\CLɂEKCEJ
YYY OJM RN

-4<;5<61(14'-



%\[VCLК $CY UKɂК <YKGF\CL -TCMȡYК %\CUQRKUOQ FNC /C[EJ 1FMT[YEȡY MVȡT\[ YTC\ \ LGIQ DQJCVGTCOK
ť -T\[U\VQHQTMKGO K &QTQVMȰ QFMT[YCLȰ RT\GU\QɺȲ FCYPGL UVQNKE[ RCɧUVYC -T\[U\VQHQTGM VQ
DQICEVYQ VTGɺEK IT[ K \CDCY[ QTC\ YURCPKCC U\CVC ITCƓE\PC








































52'-6#-.' &.# &<+'%+ 9 9+'-7 .#6


9 EKȰIW TQMW QFD[YC UKɂ MKNMCPCɺEKG URGMVCMNK Q TȡʝPGL VGOCV[EG \ -T\[U\VQHQTMKGO K &QTQVMȰ Y TQNK
IȡYPGL 9 DCTYP[ K F[PCOKE\P[ URQUȡD RT\GFUVCYKCLȰ TȡʝPG JKUVQTKG \CD[VMQYGIQ -TCMQYC
2T\Gʝ[L \ PCOK YURCPKCȰ RT\[IQFɂК






















YYY OJM RN ^ KPHQ"OJM RN


/W\GWO *KUVQT[E\PG /KCUVC -TCMQYC 2CCE -T\[U\VQHQT[
4[PGM )ȡYP[ -TCMȡY
%GPVTWO 1DUWIK <YKGF\CLȰE[EJ VGN

HWPMELQPCNPQɮȦ GUVGV[MC 6YQLG \CFQYQNGPKG







9KVCO[ PC UVTQPKG ƒTO[ /'6.+0' ,GUVGɮO[ FQUVCYEȤ Y[UQMKGL
LCMQɮEK OGDNK Wʑ[VMQY[EJ MVȕTG QF\PCE\CLȤ UKȶ RQPCFRT\GEKȶVPȤ
GUVGV[MȤ QTC\ Y[LȤVMQYȤ HWPMELQPCNPQɮEKȤ 9[TQD[ RQYUVCLȤ PC
DC\KG FQDT[EJ ICVWPMQYQ OCVGTKCȕY Y[MQɛE\QP[EJ Y Y[UQMKO
UVCPFCTF\KG F\KȶMK E\GOW QF\PCE\CLȤ UKȶ QFRQTPQɮEKȤ PC F\KCCPKG
E\[PPKMȕY \GYPȶVT\P[EJ QTC\ WU\MQF\GPKC OGEJCPKE\PG




U\CHMK WDTCPKQYG $*2
U\CHMK ɮPKCFCPKQYG

U\CHMK FGRQ\[VQYG

U\CHMK PC QF\KGʑ E\[UVȤ DTWFPȤ

U\CH[ CMVQYG

U\CH[ MCTVQVGMQYG

ICDNQV[ QIQU ICDNQV[ QIQU\GPKQYG






5\CHMK FQ U\Mȕ




K RT\GFU\MQNK









$T\G\KPMC WN 5QPGE\PC
#PFT[EJȕY
KPHQNKPKC
HCZ
VGN
G OCKN DKWTQ"OGVNKPG EQO RN

YYY UMNGR OGVNKPG EQO RN

HWPMELQPCNPQɮȦ GUVGV[MC 6YQLG \CFQYQNGPKG







9KVCO[ PC UVTQPKG ƒTO[ /'6.+0' ,GUVGɮO[ FQUVCYEȤ Y[UQMKGL
LCMQɮEK OGDNK Wʑ[VMQY[EJ MVȕTG QF\PCE\CLȤ UKȶ RQPCFRT\GEKȶVPȤ
GUVGV[MȤ QTC\ Y[LȤVMQYȤ HWPMELQPCNPQɮEKȤ 9[TQD[ RQYUVCLȤ PC
DC\KG FQDT[EJ ICVWPMQYQ OCVGTKCȕY Y[MQɛE\QP[EJ Y Y[UQMKO
UVCPFCTF\KG F\KȶMK E\GOW QF\PCE\CLȤ UKȶ QFRQTPQɮEKȤ PC F\KCCPKG
E\[PPKMȕY \GYPȶVT\P[EJ QTC\ WU\MQF\GPKC OGEJCPKE\PG




U\CHMK WDTCPKQYG $*2
U\CHMK ɮPKCFCPKQYG

U\CHMK FGRQ\[VQYG

U\CHMK PC QF\KGʑ E\[UVȤ DTWFPȤ

U\CH[ CMVQYG

U\CH[ MCTVQVGMQYG

ICDNQV[ QIQU ICDNQV[ QIQU\GPKQYG






5\CHMK FQ U\Mȕ




K RT\GFU\MQNK









$T\G\KPMC WN 5QPGE\PC
#PFT[EJȕY
KPHQNKPKC
HCZ
VGN
G OCKN DKWTQ"OGVNKPG EQO RN

YYY UMNGR OGVNKPG EQO RN

HWPMELQPCNPQɮȦ GUVGV[MC 6YQLG \CFQYQNGPKG











QQȦ
0Yɮ
W U
P C F T M P C \ C H CJ
ME














































$T\G\KPMC WN 5QPGE\PC
#PFT[EJȕY
KPHQNKPKC
HCZ
VGN
G OCKN DKWTQ"OGVNKPG EQO RN

YYY UMNGR OGVNKPG EQO RN

HWPMELQPCNPQɮȦ GUVGV[MC 6YQLG \CFQYQNGPKG











QQȦ
0Yɮ
W U
P C F T M P C \ C H CJ
ME














































$T\G\KPMC WN 5QPGE\PC
#PFT[EJȕY
KPHQNKPKC
HCZ
VGN
G OCKN DKWTQ"OGVNKPG EQO RN

YYY UMNGR OGVNKPG EQO RN

2GNU\M Z VRELH %U]\GDOD

1-64;",* * ("%Lj&5: *//& /*Lj 84;:45,*&











8JUBNZ X CS[ZEBMPXJF

8 #S[ZEBMPXJF KBL X QSBXE[JXZN ȈZDJV OJF NB E’VHPX’PTZDI LTJǗȈOJD[FL SZDFS[Z X MǴOJnjDZDI [CSPKBDI D[Z
TLS[BUØX [BQMBUBKnjDZDI LPOJPN HS[ZXZ 5P [VQF’OJF JOOB CBKLB *OOB CP QSBXE[JXB 8 NJBTUFD[LV OB
SZOFD[LV NPȈOB XQBǴǎ OB NJFT[LBǩDØX LUØS[Z Tnj EP OBT CBSE[JFK QPEPCOJ OJȈ NPH’PCZ TJǗ XZEBXBǎ
#P KBL ǴQJFXB’ 8JFT[D[ 8DBMF OJF P UP DIPE[J KBL DP LPNV XZDIPE[J -JD[Z TJǗ XJBSB
X TJFCJF QS[FLPOBOJF P X’BTOFK XZKnjULPXPǴDJ J EPCSB [BCBXB " KBL LUPǴ DIDF OBT EP’PXBǎ LSZUZLPXBǎ
XZKnjULPXF QMVT[BLJSØE LUØSZDI LBȈEF [OBKE[JF TXPKF BMUFS FHP o OJFDI TQBEB OB ES[FXP T[ZT[LJ CVKBǎ J QPNQPXBǎ
XǴ
0QSØD[ UZDI LUØS[Z OJF XJFE[nj DP UP [OBD[Z






















































XXX CS[ZEBMF QM




1MBD 4US[FMFDLJ 8SPD’BX TLMFQ!CS[ZEBMF QM

2GNU\M Z VRELH %U]\GDOD

1-64;",* * ("%Lj&5: *//& /*Lj 84;:45,*&











8JUBNZ X CS[ZEBMPXJF

8 #S[ZEBMPXJF KBL X QSBXE[JXZN ȈZDJV OJF NB E’VHPX’PTZDI LTJǗȈOJD[FL SZDFS[Z X MǴOJnjDZDI [CSPKBDI D[Z
TLS[BUØX [BQMBUBKnjDZDI LPOJPN HS[ZXZ 5P [VQF’OJF JOOB CBKLB *OOB CP QSBXE[JXB 8 NJBTUFD[LV OB
SZOFD[LV NPȈOB XQBǴǎ OB NJFT[LBǩDØX LUØS[Z Tnj EP OBT CBSE[JFK QPEPCOJ OJȈ NPH’PCZ TJǗ XZEBXBǎ
#P KBL ǴQJFXB’ 8JFT[D[ 8DBMF OJF P UP DIPE[J KBL DP LPNV XZDIPE[J -JD[Z TJǗ XJBSB
X TJFCJF QS[FLPOBOJF P X’BTOFK XZKnjULPXPǴDJ J EPCSB [BCBXB " KBL LUPǴ DIDF OBT EP’PXBǎ LSZUZLPXBǎ
XZKnjULPXF QMVT[BLJSØE LUØSZDI LBȈEF [OBKE[JF TXPKF BMUFS FHP o OJFDI TQBEB OB ES[FXP T[ZT[LJ CVKBǎ J QPNQPXBǎ
XǴ
0QSØD[ UZDI LUØS[Z OJF XJFE[nj DP UP [OBD[Z






















































XXX CS[ZEBMF QM




1MBD 4US[FMFDLJ 8SPD’BX TLMFQ!CS[ZEBMF QM

#3;:%"-& 1-64;",* #3;:%"-08& ("%Lj&5:


1S[FETUBXJBNZ 8BN CS[ZEBMPXF QMVT[BLJ (BMFSJǗ PUXJFSB -6-6 [ CBLDZMFN QPESØȈOJD[LJ LUØSB DIDF /B OBT[FK CS[ZEBMOFK TUSPOJF NPȈOB CMJȈFK QP[OBǎ LBȈEFHP [ #S[ZEBMJ 4nj UP TUXPSZ LUØSF NJFT[LBKnj
[KFȇE[Jǎ DB’Z ǴXJBU ."9 UP XSBȈMJXZ UXBSE[JFM [BLPDIBOZ X NPUPDZLMBDI .*" KFTU VSPE[POnj GBTIJPOJTULnj X UǗUOJnjDZN ȈZDJFN #S[ZEBMPXJF LjZKnj POF X LPǴMBXZDI OJFJEFBMOZDI EPNBDI HPUVKnj OJFKBEBMOF QPUSBXZ
XJF DP KFTU USFOEZ OJF NØXJnjD KVȈ P UZN ȈF KFTU TQFDKBMJTULnj PE XZQS[FEBȈZ 5BN HE[JF KFTU EPCSB NV[B KFTU J XDBMF OJF [BKNVKnj TJǗ UZMLP J XZ’njD[OJF QPȈZUFD[OZNJ S[FD[BNJ 1ǗE[nj OJF[XZLMF CBSXOZ ȈZXPU X LUØSZN
UFȈ J #0/0 LUØSZ SP[LSǗDJ LBȈEnj JNQSF[Ǘ 5*50 BSUZǴDJF QPL’POZ NPHnj CJǎ 1JDBTTP 7BO (PHI J DB’B SFT[UB KFTU NJFKTDF OB QPQF’OJBOJF C’ǗEØX J CZDJF UBLJN KBLJN DIDF TJǗ CZǎ 1P[B UZN LBȈEZ #S[ZEBM NB DPǴ D[FHP
.BDJF DPǴ OB TVNJFOJV NPȈF OBT QP DJDIV OBVD[Zǎ KFǴMJ HP P UP QPQSPTJNZ B NJBOPXJDJF VȈZXBOJB XZPCSBȇOJ %MBUFHP SP[EBKnj
TPCJF OBX[BKFN PSZHJOBMOF QSF[FOUZ


1-/




5*50








50-0










/" 13&;&/5


#S[ZEBMF UP KFEZOF X TXPJN SPE[BKV PSZHJOBMOF QSF[FOUZ LUØSZDI XBȈOnj DFDInj KFTU UP ȈF QPEPCBKnj TJǗ
LBȈEFNV LUP TUB’ TJǗ JDI QPTJBEBD[FN ;FTQؒ QS[FSØȈOZDI DFDI DIBSBLUFSV SØȈOPSPEOPǴǎ HBMFSJJ
PTPCPXPǴDJ SFQSF[FOUVKnjDZDI MJD[OF QBTKF J [BJOUFSFTPXBOJB B QS[Z UZN ǴXJFUOB KBLPǴǎ XZLPOBOJB #S[ZEBMJ
J XT[ZTULJDI HBEȈFUØX EFEZLPXBOZDI UFK NBSDF UP D[ZOOJLJ LUØSF EBKnj HXBSBODKǗ [BJOUFSFTPXBOJB
QSPEVLUFN OJF[BMFȈOJF PE XJFLV PECJPSDØX
-&7* "#0$0 0+00+









/0#""
."9














1MBD 4US[FMFDLJ 8SPD’BX
TLMFQ!CS[ZEBMF QM

XXX CS[ZEBMF QM

#3;:%"-& 1-64;",* #3;:%"-08& ("%Lj&5:


1S[FETUBXJBNZ 8BN CS[ZEBMPXF QMVT[BLJ (BMFSJǗ PUXJFSB -6-6 [ CBLDZMFN QPESØȈOJD[LJ LUØSB DIDF /B OBT[FK CS[ZEBMOFK TUSPOJF NPȈOB CMJȈFK QP[OBǎ LBȈEFHP [ #S[ZEBMJ 4nj UP TUXPSZ LUØSF NJFT[LBKnj
[KFȇE[Jǎ DB’Z ǴXJBU ."9 UP XSBȈMJXZ UXBSE[JFM [BLPDIBOZ X NPUPDZLMBDI .*" KFTU VSPE[POnj GBTIJPOJTULnj X UǗUOJnjDZN ȈZDJFN #S[ZEBMPXJF LjZKnj POF X LPǴMBXZDI OJFJEFBMOZDI EPNBDI HPUVKnj OJFKBEBMOF QPUSBXZ
XJF DP KFTU USFOEZ OJF NØXJnjD KVȈ P UZN ȈF KFTU TQFDKBMJTULnj PE XZQS[FEBȈZ 5BN HE[JF KFTU EPCSB NV[B KFTU J XDBMF OJF [BKNVKnj TJǗ UZMLP J XZ’njD[OJF QPȈZUFD[OZNJ S[FD[BNJ 1ǗE[nj OJF[XZLMF CBSXOZ ȈZXPU X LUØSZN
UFȈ J #0/0 LUØSZ SP[LSǗDJ LBȈEnj JNQSF[Ǘ 5*50 BSUZǴDJF QPL’POZ NPHnj CJǎ 1JDBTTP 7BO (PHI J DB’B SFT[UB KFTU NJFKTDF OB QPQF’OJBOJF C’ǗEØX J CZDJF UBLJN KBLJN DIDF TJǗ CZǎ 1P[B UZN LBȈEZ #S[ZEBM NB DPǴ D[FHP
.BDJF DPǴ OB TVNJFOJV NPȈF OBT QP DJDIV OBVD[Zǎ KFǴMJ HP P UP QPQSPTJNZ B NJBOPXJDJF VȈZXBOJB XZPCSBȇOJ %MBUFHP SP[EBKnj
TPCJF OBX[BKFN PSZHJOBMOF QSF[FOUZ


1-/




5*50








50-0










/" 13&;&/5


#S[ZEBMF UP KFEZOF X TXPJN SPE[BKV PSZHJOBMOF QSF[FOUZ LUØSZDI XBȈOnj DFDInj KFTU UP ȈF QPEPCBKnj TJǗ
LBȈEFNV LUP TUB’ TJǗ JDI QPTJBEBD[FN ;FTQؒ QS[FSØȈOZDI DFDI DIBSBLUFSV SØȈOPSPEOPǴǎ HBMFSJJ
PTPCPXPǴDJ SFQSF[FOUVKnjDZDI MJD[OF QBTKF J [BJOUFSFTPXBOJB B QS[Z UZN ǴXJFUOB KBLPǴǎ XZLPOBOJB #S[ZEBMJ
J XT[ZTULJDI HBEȈFUØX EFEZLPXBOZDI UFK NBSDF UP D[ZOOJLJ LUØSF EBKnj HXBSBODKǗ [BJOUFSFTPXBOJB
QSPEVLUFN OJF[BMFȈOJF PE XJFLV PECJPSDØX
-&7* "#0$0 0+00+









/0#""
."9














1MBD 4US[FMFDLJ 8SPD’BX
TLMFQ!CS[ZEBMF QM

XXX CS[ZEBMF QM

3°ñē ÷ĖÜçÝãÄ



3°ñē Ñ ñÝ°ã÷ĖÄȤ ÜüèôÄ ñçüôĖÄ»þÛļÑÄȩ


XēÀ°đãѼüđ° HL# . NE8 EL
4ÑÄÜüèôÄ ã°÷ĖÄ ñôçÀþÜüē ñç÷Ñ°À°Û· ¼ÄôüēķÜ°ü øôçÀÜèđ ÀēÀ°Üüē¼Ėãē¼Ð Ė°Ýļ°ãē¼Ð đ ÷đçÛÄÛ çÍÄô¼ÑÄ ñôçñçãþÛÄ ñçã°À
Àç þęēüÜþ ÷ĖÜçÝãÄÎçȩ ã°À°ãē ñôĖÄĖ 3ÑãÑ÷üô° ÀþÜ°¼ÛÑ 4°ôçÀçđÄÛ Ñ HñçôüþȮ ƽƴ üēüþáèđ â°ñ đ üēâ ÀĖÑ°á ÷ĖÜçÝãē
Ė â°ñ°âÑ ķĖē¼ĖãēâÑȤ ñçÝÑüē¼ĖãēâÑȣ
IđÑ°ü°Ȥ þôçñēȤ ÜçãüēãÄãüèđȤ
ñ°ä÷üđ çô°Ė â°ñē ÀÝ° ķôâȣ
ÀôçÎçđÄȤ ÜçÀçđÄȤ çôΰãÑĖ°¼ēÛãÄȤ
ñ°ãç°ãçô°âѼĖãÄ Ñ ÷°üÄÝÑü°ôãÄȩ
BÝ°ã÷ĖÄ ñ






XēÀ°đãѼüđ° HL# . NE8 EL
á·¼Ė·¼ üô°Àē¼ēÛãÄ Ñ ãçđç¼ĖÄ÷ãÄ Bçâç¼Ä ñôĖÄÀ÷ĖÜçÝãÄ
ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ Àç đ÷ñÑÄô°ãÑ°
Ñããçđ°¼ēÛãē¼Ð Íçôâ Ü÷Ėü°á¼ÄãÑ°
çÍÄôþÛÄ ñçã°À Ƶƴƴ üēüþáèđ ñÝ°ã÷Ė
ÄÀþÜ°¼ēÛãē¼Ð Ɏ ø¼ÑÄããē¼Ðȩ çΰüÄ đ 4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ
üôÄø¼ÑȤ ç»ô°ĖēȤ đēÜôÄ÷ēȤ ÷¼ÐÄâ°üēȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄȤ ñÝ°ã÷ĖÄ Àç ÎÑÄô Ñ Ė°»°đȤ ÜÝç¼ÜÑ BçÝēÀôçãȤ çô°Ė üô°Àē¼ēÛãÄ ñÝ°ã÷ĖÄ ø¼ÑÄããÄ
½đѼđѼĖÄãÑ° Ñ ÑãÍçôâ°¼ÛÄ ñÝ°ã÷ĖÄ ÷·
½ Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ HüēâþÝþÛ· çãÄ ÝçÎѼĖãÄ âēøÝÄãÑÄȤ
¼Äããēâ ėôèÀáÄâ đÑÄÀĖē ÀÝ° þâÑÄÛÌüãçø¼Ñ ÜçâþãÑÜ°¼ēÛãÄȤ ñç÷üôĖÄΰãÑÄ çôÑÄãü°¼ÛÑ ñôĖÄ÷üôĖÄããÄÛ çô°Ė ôçĖđèÛ þâÑÄÛÌüãçø¼Ñ
þ¼ĖãÑèđ ÷ĖÜèá ñçÀ÷ü°đçđē¼ÐȤ âçüçôē¼Ėãē¼Ðȩ X÷Ėē÷üÜÑÄ ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ ñôçâçđ°ãÑ° ÄÀþÜ°¼ÛÑ Ñ þ¼ĖÄãÑ° ÷ÑÌ ñôĖÄĖ Ė°»°đÌ ÷·
ÎÑâã°ĖÛèđ Ñ ÷ĖÜèá øôÄÀãѼÐȩ ĖÎçÀãÄ Ė ãçôâ°âÑ »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ
































HL# . NE8 EL -ôē÷üÑ°ã -çâ°ãÀÄô
8Àôçđ·ę þÝȩ XÑÄÛ÷Ü° Ƶƻ Ȥ ƸƻɎƷƵƺ èô°ęÀęÄ
üÄÝȩȣ ʖƸƼ ƻƻ Ƹƺƻƻ ƷƼƼȤ âç»ÑÝȣ ʖƸƼ ƹƴƶ ƹƶƸ ƺƼƽ
đđđȮâ°ñē÷ĖÜçÝãÄȮñÝ

3°ñē ÷ĖÜçÝãÄ



3°ñē Ñ ñÝ°ã÷ĖÄȤ ÜüèôÄ ñçüôĖÄ»þÛļÑÄȩ


XēÀ°đãѼüđ° HL# . NE8 EL
4ÑÄÜüèôÄ ã°÷ĖÄ ñôçÀþÜüē ñç÷Ñ°À°Û· ¼ÄôüēķÜ°ü øôçÀÜèđ ÀēÀ°Üüē¼Ėãē¼Ð Ė°Ýļ°ãē¼Ð đ ÷đçÛÄÛ çÍÄô¼ÑÄ ñôçñçãþÛÄ ñçã°À
Àç þęēüÜþ ÷ĖÜçÝãÄÎçȩ ã°À°ãē ñôĖÄĖ 3ÑãÑ÷üô° ÀþÜ°¼ÛÑ 4°ôçÀçđÄÛ Ñ HñçôüþȮ ƽƴ üēüþáèđ â°ñ đ üēâ ÀĖÑ°á ÷ĖÜçÝãē
Ė â°ñ°âÑ ķĖē¼ĖãēâÑȤ ñçÝÑüē¼ĖãēâÑȣ
IđÑ°ü°Ȥ þôçñēȤ ÜçãüēãÄãüèđȤ
ñ°ä÷üđ çô°Ė â°ñē ÀÝ° ķôâȣ
ÀôçÎçđÄȤ ÜçÀçđÄȤ çôΰãÑĖ°¼ēÛãÄȤ
ñ°ãç°ãçô°âѼĖãÄ Ñ ÷°üÄÝÑü°ôãÄȩ
BÝ°ã÷ĖÄ ñ






XēÀ°đãѼüđ° HL# . NE8 EL
á·¼Ė·¼ üô°Àē¼ēÛãÄ Ñ ãçđç¼ĖÄ÷ãÄ Bçâç¼Ä ñôĖÄÀ÷ĖÜçÝãÄ
ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ Àç đ÷ñÑÄô°ãÑ°
Ñããçđ°¼ēÛãē¼Ð Íçôâ Ü÷Ėü°á¼ÄãÑ°
çÍÄôþÛÄ ñçã°À Ƶƴƴ üēüþáèđ ñÝ°ã÷Ė
ÄÀþÜ°¼ēÛãē¼Ð Ɏ ø¼ÑÄããē¼Ðȩ çΰüÄ đ 4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ
üôÄø¼ÑȤ ç»ô°ĖēȤ đēÜôÄ÷ēȤ ÷¼ÐÄâ°üēȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄȤ ñÝ°ã÷ĖÄ Àç ÎÑÄô Ñ Ė°»°đȤ ÜÝç¼ÜÑ BçÝēÀôçãȤ çô°Ė üô°Àē¼ēÛãÄ ñÝ°ã÷ĖÄ ø¼ÑÄããÄ
½đѼđѼĖÄãÑ° Ñ ÑãÍçôâ°¼ÛÄ ñÝ°ã÷ĖÄ ÷·
½ Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ HüēâþÝþÛ· çãÄ ÝçÎѼĖãÄ âēøÝÄãÑÄȤ
¼Äããēâ ėôèÀáÄâ đÑÄÀĖē ÀÝ° þâÑÄÛÌüãçø¼Ñ ÜçâþãÑÜ°¼ēÛãÄȤ ñç÷üôĖÄΰãÑÄ çôÑÄãü°¼ÛÑ ñôĖÄ÷üôĖÄããÄÛ çô°Ė ôçĖđèÛ þâÑÄÛÌüãçø¼Ñ
þ¼ĖãÑèđ ÷ĖÜèá ñçÀ÷ü°đçđē¼ÐȤ âçüçôē¼Ėãē¼Ðȩ X÷Ėē÷üÜÑÄ ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ ñôçâçđ°ãÑ° ÄÀþÜ°¼ÛÑ Ñ þ¼ĖÄãÑ° ÷ÑÌ ñôĖÄĖ Ė°»°đÌ ÷·
ÎÑâã°ĖÛèđ Ñ ÷ĖÜèá øôÄÀãѼÐȩ ĖÎçÀãÄ Ė ãçôâ°âÑ »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ
































HL# . NE8 EL -ôē÷üÑ°ã -çâ°ãÀÄô
8Àôçđ·ę þÝȩ XÑÄÛ÷Ü° Ƶƻ Ȥ ƸƻɎƷƵƺ èô°ęÀęÄ
üÄÝȩȣ ʖƸƼ ƻƻ Ƹƺƻƻ ƷƼƼȤ âç»ÑÝȣ ʖƸƼ ƹƴƶ ƹƶƸ ƺƼƽ
đđđȮâ°ñē÷ĖÜçÝãÄȮñÝ

#ãüÄô°ÜüēđãÄ ñôçÎô°âē ÄÀþÜ°¼ēÛãÄ






HL# . NE8 EL -ôē÷üÑ°ã -çâ°ãÀÄô
4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑļÑ
đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄ 8Àôçđ·ę þÝȩ XÑÄÛ÷Ü° Ƶƻ Ȥ ƸƻɎƷƵƺ èô°ęÀęÄ
Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ üÄÝȩȣ ʖƸƼ ƻƻ Ƹƺƻƻ ƷƼƼȤ âç»ÑÝȣ ʖƸƼ ƹƴƶ ƹƶƸ ƺƼƽ
HüēâþÝþÛ· çãÄ ÝçÎѼĖãÄ âēøÝÄãÑÄȤ þâÑÄÛÌüãçø¼Ñ ÜçâþãÑÜ°¼ēÛãÄȤ
ñç÷üôĖÄΰãÑÄ çôÑÄãü°¼ÛÑ ñôĖÄ÷üôĖÄããÄÛ çô°Ė ôçĖđèÛ þâÑÄÛÌüãçø¼Ñ
âçüçôē¼Ėãē¼Ðȩ X÷Ėē÷üÜÑÄ ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ ñôçâçđ°ãÑ°
ÄÀþÜ°¼ÛÑ Ñ þ¼ĖÄãÑ° ÷ÑÌ ñôĖÄĖ Ė°»°đÌ ÷· ĖÎçÀãÄ Ė ãçôâ°âÑ
»
»ÄÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ







L°»ÝÑ¼Ä ÑãüÄô°ÜüēđãÄ ȯ âþÝüÑâÄÀÑ°







BçÀ â°ôÜ· HüÑÄÍÄÝ #ãüÄô°¼üÑĐÄ çÍÄôþÛÄâē ÜçâñÝÄÜ÷çđÄ ôçĖđÑ·Ė°ãÑ° ÀÝ° ÷ĖÜèá đÄ đÀô°ę°ãÑþ ãçđç¼ĖÄ÷ãē¼Ð
ÑãüÄô°Üüēđãē¼Ð Íçôâ ã°þ¼Ė°ãÑ° ôÄãçâçđ°ãē¼Ð ñôçÀþ¼Äãüèđȩ

8ÍÄôçđ°ãÄ ü°»ÝÑ¼Ä ÑãüÄô°ÜüēđãÄ üç ñçñþÝ°ôãÄ â°ôÜÑ D838 Ñ WL -Ȥ ÜôèüÜççÎãÑ÷ÜçđÄ ñôçÛÄÜüçôē H 4Z8Ȥ "#L "#
Ñ BH84Ȥ W#W#L ȩ 3çãü°ę ü°»ÝѼ ÑãüÄô°Üüēđãē¼Ð Ñ ñôçÛÄÜüçôèđ çÍÄôþÛÄâē ã° ęē¼ĖÄãÑÄ ÜÝÑÄãü° đ ÷ē÷üÄâÑÄȣ 4
HL 2 Ȥ BE] HNX4Z .N 38 #.4Zȩ


4çđçø½ȫ


























Ýç»þ÷ē

#ãüÄô°ÜüēđãÄ ñôçÎô°âē ÄÀþÜ°¼ēÛãÄ






HL# . NE8 EL -ôē÷üÑ°ã -çâ°ãÀÄô
4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑļÑ
đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄ 8Àôçđ·ę þÝȩ XÑÄÛ÷Ü° Ƶƻ Ȥ ƸƻɎƷƵƺ èô°ęÀęÄ
Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ üÄÝȩȣ ʖƸƼ ƻƻ Ƹƺƻƻ ƷƼƼȤ âç»ÑÝȣ ʖƸƼ ƹƴƶ ƹƶƸ ƺƼƽ
HüēâþÝþÛ· çãÄ ÝçÎѼĖãÄ âēøÝÄãÑÄȤ þâÑÄÛÌüãçø¼Ñ ÜçâþãÑÜ°¼ēÛãÄȤ
ñç÷üôĖÄΰãÑÄ çôÑÄãü°¼ÛÑ ñôĖÄ÷üôĖÄããÄÛ çô°Ė ôçĖđèÛ þâÑÄÛÌüãçø¼Ñ
âçüçôē¼Ėãē¼Ðȩ X÷Ėē÷üÜÑÄ ñçâç¼Ä ÀēÀ°Üüē¼ĖãÄ ñôçâçđ°ãÑ°
ÄÀþÜ°¼ÛÑ Ñ þ¼ĖÄãÑ° ÷ÑÌ ñôĖÄĖ Ė°»°đÌ ÷· ĖÎçÀãÄ Ė ãçôâ°âÑ
»
»ÄÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ







L°»ÝÑ¼Ä ÑãüÄô°ÜüēđãÄ ȯ âþÝüÑâÄÀÑ°







BçÀ â°ôÜ· HüÑÄÍÄÝ #ãüÄô°¼üÑĐÄ çÍÄôþÛÄâē ÜçâñÝÄÜ÷çđÄ ôçĖđÑ·Ė°ãÑ° ÀÝ° ÷ĖÜèá đÄ đÀô°ę°ãÑþ ãçđç¼ĖÄ÷ãē¼Ð
ÑãüÄô°Üüēđãē¼Ð Íçôâ ã°þ¼Ė°ãÑ° ôÄãçâçđ°ãē¼Ð ñôçÀþ¼Äãüèđȩ

8ÍÄôçđ°ãÄ ü°»ÝÑ¼Ä ÑãüÄô°ÜüēđãÄ üç ñçñþÝ°ôãÄ â°ôÜÑ D838 Ñ WL -Ȥ ÜôèüÜççÎãÑ÷ÜçđÄ ñôçÛÄÜüçôē H 4Z8Ȥ "#L "#
Ñ BH84Ȥ W#W#L ȩ 3çãü°ę ü°»ÝѼ ÑãüÄô°Üüēđãē¼Ð Ñ ñôçÛÄÜüçôèđ çÍÄôþÛÄâē ã° ęē¼ĖÄãÑÄ ÜÝÑÄãü° đ ÷ē÷üÄâÑÄȣ 4
HL 2 Ȥ BE] HNX4Z .N 38 #.4Zȩ


4çđçø½ȫ


























Ýç»þ÷ē