The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Discover the best professional documents and content resources in AnyFlip Document Base.
Search
Published by B&R, 2017-08-24 07:15:02

MP Jungowska_Flat

T[VLBK

X OBKMFQT[ZDI

LTJǗHBSOJBDI


+VOH Pò TLB &EZUB +VOHPXTLB 4Q , PSB[ OB
VM ,SZQTLB 8BST[BXB 1PMTLB
UFM
F NBJM TLMFQ!KVOHPòTLB QM

–—š·–” ‘š ¤‘NJ


¸¯·•—™£·°




.ORFNL WR QDMVWDUV]D L SUDZGRSRGREQLH QDMZDēQLHMV]D ]DEDZND Z RNUHVLH
UR]ZRMX G]LHFND =DU´ZQR NORFNL ] GUHZQD /HJR MDN L NORFNL PDJQHW\F]QH
SU]\F]\QLDMÆ VLÔ GR UR]ZRMX PRWRU\NL NUHDW\ZQRþFL L IDQWD]ML G]LHFL

&]\ ZLHG]LHOL 3DìVWZR ēH ]Z\NêH ]DEDZNL W\SX NORFNL PDMÆ OHSV]\ ZSê\Z QD
UR]Z´M G]LHFL QLē ]DEDZNL HOHNWURQLF]QH NW´UH SR QDFLþQLÔFLX JX]LND Z\GDMÆ
GđZLÔNL MHēGēÆ OXE SU]HPLHV]F]DMÆ VLÔ"














͏ Í$

TLMFQ!BJOTUFJO QM

–—š·–” ‘š ¤‘NJ


¸¯·•—™£·°




.ORFNL WR QDMVWDUV]D L SUDZGRSRGREQLH QDMZDēQLHMV]D ]DEDZND Z RNUHVLH
UR]ZRMX G]LHFND =DU´ZQR NORFNL ] GUHZQD /HJR MDN L NORFNL PDJQHW\F]QH
SU]\F]\QLDMÆ VLÔ GR UR]ZRMX PRWRU\NL NUHDW\ZQRþFL L IDQWD]ML G]LHFL

&]\ ZLHG]LHOL 3DìVWZR ēH ]Z\NêH ]DEDZNL W\SX NORFNL PDMÆ OHSV]\ ZSê\Z QD
UR]Z´M G]LHFL QLē ]DEDZNL HOHNWURQLF]QH NW´UH SR QDFLþQLÔFLX JX]LND Z\GDMÆ
GđZLÔNL MHēGēÆ OXE SU]HPLHV]F]DMÆ VLÔ"














͏ Í$

TLMFQ!BJOTUFJO QM

,-0$,* ."(/&5:$;/&


¸œš‘Ÿ–ž£ "*/45&*/ #6*-%&3


=HVWDZ ]DZLHUD HOHPHQW´Z
[ NORFHN NZDGUDWRZ\ [ NORFHN
$LQVWHLQ WR NORFNL GR ]DGDì VSHFMDOQ\FK ']LÔNL QLHRGS\FKDMÆF\P VLÔ PDJQHVRP WU´MNÆWQ\ RUD] [ NORFHN SURVWRNÆWQ\ Z NRORU]H
NORFNL PDMÆ PDJLF]QÆ PRF SU]\FLÆJDQLD VLÔ ] NDēGHM VWURQ\ 1LH LVWQLHMÆ WX ēDGQH ē´êW\P F]HUZRQ\P QLHELHVNLP RUD] ]LHORQ\P
UHJXê\ ]DVDG\ LQVWUXNFMH EXGRZ\ -HG\Q\P RJUDQLF]HQLHP MHVW NUHDW\ZQRþÈ
$,167(,1 G\GDNW\F]QLH ZDUWRþFLRZD ]DEDZND >Ă

:V]\VWNLH SURGXNW\ $,167(,1 SRVLDGDMÆ FHUW\ILNDW &( RUD] 79 $XVWULD
SRWZLHUG]DMÆF\ ]JRGQRþÈ ] HXURSHMVNÆ QRUPÆ EH]SLHF]HìVWZD (1
:\SURGXNRZDQR Z $XVWULL 3URGXNW SU]H]QDF]RQ\ GOD G]LHFL RG URNX ē\FLD ,-0$,* ."(/&5:$;/&

"*/45&*/ ,*("4&5

=HVWDZ ]DZLHUD HOHPHQW\
[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H F]HUZRQ\P ]LHORQ\P
ē´êW\P ELDê\P RUD] QLHELHVNLP

=HVWDZ ]DZLHUD HOHPHQW´Z >Ă

[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H ē´êW\P RUD] F]HUZRQ\P
͏ Í$







,-0$,* ."(/&5:$;/&

"*/45&*/ $3&"503


=HVWDZ ]DZLHUD HOHPHQWyZ
[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WUyMNąWQ\ Z NRORU]H ĪyáW\P RUD] F]HUZRQ\P







,-0$,* ."(/&5:$;/&


"*/45&*/ "3$)*5&$5

=HVWDZ ]DZLHUD HOHPHQW´Z

[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H ē´êW\P ]LHORQ\P RUD] F]HUZRQ\P




,-0$,* ."(/&5:$;/&


¸œš‘Ÿ–ž£ "*/45&*/ #6*-%&3


=HVWDZ ]DZLHUD HOHPHQW´Z
[ NORFHN NZDGUDWRZ\ [ NORFHN
$LQVWHLQ WR NORFNL GR ]DGDì VSHFMDOQ\FK ']LÔNL QLHRGS\FKDMÆF\P VLÔ PDJQHVRP WU´MNÆWQ\ RUD] [ NORFHN SURVWRNÆWQ\ Z NRORU]H
NORFNL PDMÆ PDJLF]QÆ PRF SU]\FLÆJDQLD VLÔ ] NDēGHM VWURQ\ 1LH LVWQLHMÆ WX ēDGQH ē´êW\P F]HUZRQ\P QLHELHVNLP RUD] ]LHORQ\P
UHJXê\ ]DVDG\ LQVWUXNFMH EXGRZ\ -HG\Q\P RJUDQLF]HQLHP MHVW NUHDW\ZQRþÈ
$,167(,1 G\GDNW\F]QLH ZDUWRþFLRZD ]DEDZND >Ă

:V]\VWNLH SURGXNW\ $,167(,1 SRVLDGDMÆ FHUW\ILNDW &( RUD] 79 $XVWULD
SRWZLHUG]DMÆF\ ]JRGQRþÈ ] HXURSHMVNÆ QRUPÆ EH]SLHF]HìVWZD (1
:\SURGXNRZDQR Z $XVWULL 3URGXNW SU]H]QDF]RQ\ GOD G]LHFL RG URNX ē\FLD ,-0$,* ."(/&5:$;/&

"*/45&*/ ,*("4&5

=HVWDZ ]DZLHUD HOHPHQW\
[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H F]HUZRQ\P ]LHORQ\P
ē´êW\P ELDê\P RUD] QLHELHVNLP

=HVWDZ ]DZLHUD HOHPHQW´Z >Ă

[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H ē´êW\P RUD] F]HUZRQ\P
͏ Í$







,-0$,* ."(/&5:$;/&

"*/45&*/ $3&"503


=HVWDZ ]DZLHUD HOHPHQWyZ
[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WUyMNąWQ\ Z NRORU]H ĪyáW\P RUD] F]HUZRQ\P







,-0$,* ."(/&5:$;/&


"*/45&*/ "3$)*5&$5

=HVWDZ ]DZLHUD HOHPHQW´Z

[ NORFHN NZDGUDWRZ\ RUD] [ NORFHN
WU´MNÆWQ\ Z NRORU]H ē´êW\P ]LHORQ\P RUD] F]HUZRQ\P




-('<1( : 32/6&( 08/7Ζ0('Ζ$/1(


12:2&=(61( =$6.$.8-Æ&(


1$-/(36=< 352'8.7 785<67<&=1<




=$35$6=$0< 2' :725.8 '2 1Ζ('=Ζ(/Ζ 2' '2

ZZZ PX]HXPSLRVHQNL SO






&HOHP XWZRU]HQLD 0X]HXP 3ROVNLHM 3LRVHQNL Z 2SROX MHVW SU]HGH ZV]\VWNLP
WUZDĄD RFKURQD NXOWXURZHJR G]LHG]LFWZD QDURGRZHJR L ]ZLÛNV]HQLH UROL SROVNLHM &(1< %Ζ/(7•:
SLRVHQNL Z GLDORJX PLÛG]\NXOWXURZ\P QD U]HF] SURPRFML PLDVWD L SRGQLHVLHQLD MHJR
DWUDNF\MQRĝFL WXU\VW\F]QHM 2SROH MDNR ȌVWROLFD SROVNLHM SLRVHQNLȋ ] WUDG\FMDPL SRQDG ȏ QRUPDOQ\ Ȃ ]Ą ȏ XOJRZ\ Ȃ ]Ą ȏ JUXSRZ\ Ȃ ]Ą
F]WHUG]LHVWROHWQLHM KLVWRULL .UDMRZHJR )HVWLZDOX 3ROVNLHM 3LRVHQNL MHVW QDMOHSV]\P ȏ URG]LQQ\ Ȃ ]Ą GRURVĄ\FK G]LHFL
PLHMVFHP GR SRZVWDQLD LQVW\WXFML ]DMPXMÇFHM VLÛ JURPDG]HQLHP NDWDORJRZDQLHP %LOHW\ PRJÇ 3DĆVWZR NXSLÉ
NRQVHUZRZDQLHP GLJLWDOL]RZDQLHP QDXNRZ\P RSUDFRZ\ZDQLHP L XGRVWÛSQLDQLHP
] ȏ Z NDVDFK 1&33 Z $PȴWHDWU]H
]ELRUµZ GRW\F]ÇF\FK SROVNLHM SLRVHQNL 3RWU]HED ]DMÛFLD VLÛ GRURENLHP SROVNLFK ELRUµZ GRW\F]ÇF\FK SROVNLHM SLRVHQNL 3RWU]HED ]DMÛFLD VLÛ GRURENLHP SROVNLFK
SLRVHQHN NWµUH SRVLDGDMÇ RJURPQH QLH GR NRĆFD ]EDGDQH ]DVRE\ ȏQD VWURQLH ZZZ ELOHW\ PX]HXPSLRVHQNL SO

MHVW SU]HGVLÛZ]LÛFLHP ZDľQ\P SU]HGH ZV]\VWNLP E\ ]DFKRZDÉ WHQ ERJDW\ FHQQ\ %LOHW\ XOJRZH VÇ ZDľQH ZUD] ] GRNXPHQWHP SRWZLHUG]DMÇF\P XSRZDľQLHQLH GR ]QLľNL
L LQWHUHVXMÇF\ PDWHULDĄ GOD SU]\V]Ą\FK SRNROHĆ








































08=(80 32/6.Ζ(- 3Ζ26(1.Ζ

_ ZZZ PX]HXPSLRVHQNL SO _ PX]HXP#PX]HXPSLRVHQNL SO
XO 3LDVWRZVND $ 2SROH $PȴWHDWU ZHMĝFLH RG XO %DUOLFNLHJR

-('<1( : 32/6&( 08/7Ζ0('Ζ$/1(


12:2&=(61( =$6.$.8-Æ&(


1$-/(36=< 352'8.7 785<67<&=1<




=$35$6=$0< 2' :725.8 '2 1Ζ('=Ζ(/Ζ 2' '2

ZZZ PX]HXPSLRVHQNL SO






&HOHP XWZRU]HQLD 0X]HXP 3ROVNLHM 3LRVHQNL Z 2SROX MHVW SU]HGH ZV]\VWNLP
WUZDĄD RFKURQD NXOWXURZHJR G]LHG]LFWZD QDURGRZHJR L ]ZLÛNV]HQLH UROL SROVNLHM &(1< %Ζ/(7•:
SLRVHQNL Z GLDORJX PLÛG]\NXOWXURZ\P QD U]HF] SURPRFML PLDVWD L SRGQLHVLHQLD MHJR
DWUDNF\MQRĝFL WXU\VW\F]QHM 2SROH MDNR ȌVWROLFD SROVNLHM SLRVHQNLȋ ] WUDG\FMDPL SRQDG ȏ QRUPDOQ\ Ȃ ]Ą ȏ XOJRZ\ Ȃ ]Ą ȏ JUXSRZ\ Ȃ ]Ą
F]WHUG]LHVWROHWQLHM KLVWRULL .UDMRZHJR )HVWLZDOX 3ROVNLHM 3LRVHQNL MHVW QDMOHSV]\P ȏ URG]LQQ\ Ȃ ]Ą GRURVĄ\FK G]LHFL
PLHMVFHP GR SRZVWDQLD LQVW\WXFML ]DMPXMÇFHM VLÛ JURPDG]HQLHP NDWDORJRZDQLHP %LOHW\ PRJÇ 3DĆVWZR NXSLÉ
NRQVHUZRZDQLHP GLJLWDOL]RZDQLHP QDXNRZ\P RSUDFRZ\ZDQLHP L XGRVWÛSQLDQLHP
] ȏ Z NDVDFK 1&33 Z $PȴWHDWU]H
]ELRUµZ GRW\F]ÇF\FK SROVNLHM SLRVHQNL 3RWU]HED ]DMÛFLD VLÛ GRURENLHP SROVNLFK ELRUµZ GRW\F]ÇF\FK SROVNLHM SLRVHQNL 3RWU]HED ]DMÛFLD VLÛ GRURENLHP SROVNLFK
SLRVHQHN NWµUH SRVLDGDMÇ RJURPQH QLH GR NRĆFD ]EDGDQH ]DVRE\ ȏQD VWURQLH ZZZ ELOHW\ PX]HXPSLRVHQNL SO

MHVW SU]HGVLÛZ]LÛFLHP ZDľQ\P SU]HGH ZV]\VWNLP E\ ]DFKRZDÉ WHQ ERJDW\ FHQQ\ %LOHW\ XOJRZH VÇ ZDľQH ZUD] ] GRNXPHQWHP SRWZLHUG]DMÇF\P XSRZDľQLHQLH GR ]QLľNL
L LQWHUHVXMÇF\ PDWHULDĄ GOD SU]\V]Ą\FK SRNROHĆ








































08=(80 32/6.Ζ(- 3Ζ26(1.Ζ

_ ZZZ PX]HXPSLRVHQNL SO _ PX]HXP#PX]HXPSLRVHQNL SO
XO 3LDVWRZVND $ 2SROH $PȴWHDWU ZHMĝFLH RG XO %DUOLFNLHJR

-('<1( : 32/6&( 08/7Ζ0('Ζ$/1(


12:2&=(61( =$6.$.8-Æ&(


1$-/(36=< 352'8.7 785<67<&=1<




=$35$6=$0< 2' :725.8 '2 1Ζ('=Ζ(/Ζ 2' '2

ZZZ PX]HXPSLRVHQNL SO






0DULD 6DGRZVND SRSURZDG]LĄD 0DĄÇ $NDGHPLÛ 3LRVHQNL
$QQD :\V]NRQL Z 0DĄHM $NDGHPLL 3LRVHQNL
0DULD 6DGRZVND WR SROVND SLRVHQNDUND Z\NRQXMÇFD PX]\NÛ MD]] SRS IXQN

: SRQLHG]LDĄHN NZLHWQLD JRĝFLHP 0DĄHM $NDGHPLL 3LRVHQNL EÛG]LH $QQD L HOHNWURQLF]QÇ D WDNľH VFHQDU]\VWND L UHľ\VHU ȴOPRZ\ 0D QD NRQFLH G]LHZLÛÉ VRORZ\FK
:\V]NRQL ZRNDOLVWND L NRPSR]\WRUND QLHJG\ĝ ]ZLÇ]DQD ] ]HVSRĄHP Ȍă]\ȋ SĄ\W P LQ 7ULEXWH WR .RPHGD ]ĄRWD SĄ\WD L Z SHĄQL DXWRUVNÇ Ȍ6SLV WUHĝFLȋ -HM HWLXGD
IDEXODUQD SW Ȍ6NU]\GĄDȋ SRND]\ZDQD E\ĄD QD PLÛG]\QDURGRZ\FK IHVWLZDODFK
$UW\VWFH EÛG]LH WRZDU]\V]\Ą JRVSRGDU] PX]\F]Q\ ΖJRU 3U]HELQGRZVNL : SURJUDPLH ȴOPRZ\FK P LQ Z 0RVNZLH 7DMSHM %RORQLL %DUFHORQLH 6WDPEXOH L 3DU\ľX
PX]\F]QH ]DMÛFLD GOD G]LHFL Z ZLHNX SU]HGV]NROQ\P L ZF]HVQRV]NROQ\P D WDNľH
PLQLNRQFHUW GOD QDMPĄRGV]\FK 2SRODQ 0 0DULD 6DGRZVND E\ĄD JRĝFLHP 0DĄHM $NDGHPLL 3LRVHQNL PDUFD $UW\VWND ZUD]
] JRVSRGDU]HP PX]\F]Q\P ΖJRUHP 3U]HELQGRZVNLP ]DSURVLOL G]LHFL QD QLH]Z\NĄH ZDUV]WDW\
PX]\F]QH SRGF]DV NWµU\FK ZVSµOQLH ĝSLHZDOL DOH SU]HGH ZV]\VWNLP GREU]H VLÛ EDZLOL










































08=(80 32/6.Ζ(- 3Ζ26(1.Ζ

_ ZZZ PX]HXPSLRVHQNL SO _ PX]HXP#PX]HXPSLRVHQNL SO
XO 3LDVWRZVND $ 2SROH $PȴWHDWU ZHMĝFLH RG XO %DUOLFNLHJR

-('<1( : 32/6&( 08/7Ζ0('Ζ$/1(


12:2&=(61( =$6.$.8-Æ&(


1$-/(36=< 352'8.7 785<67<&=1<




=$35$6=$0< 2' :725.8 '2 1Ζ('=Ζ(/Ζ 2' '2

ZZZ PX]HXPSLRVHQNL SO






0DULD 6DGRZVND SRSURZDG]LĄD 0DĄÇ $NDGHPLÛ 3LRVHQNL
$QQD :\V]NRQL Z 0DĄHM $NDGHPLL 3LRVHQNL
0DULD 6DGRZVND WR SROVND SLRVHQNDUND Z\NRQXMÇFD PX]\NÛ MD]] SRS IXQN

: SRQLHG]LDĄHN NZLHWQLD JRĝFLHP 0DĄHM $NDGHPLL 3LRVHQNL EÛG]LH $QQD L HOHNWURQLF]QÇ D WDNľH VFHQDU]\VWND L UHľ\VHU ȴOPRZ\ 0D QD NRQFLH G]LHZLÛÉ VRORZ\FK
:\V]NRQL ZRNDOLVWND L NRPSR]\WRUND QLHJG\ĝ ]ZLÇ]DQD ] ]HVSRĄHP Ȍă]\ȋ SĄ\W P LQ 7ULEXWH WR .RPHGD ]ĄRWD SĄ\WD L Z SHĄQL DXWRUVNÇ Ȍ6SLV WUHĝFLȋ -HM HWLXGD
IDEXODUQD SW Ȍ6NU]\GĄDȋ SRND]\ZDQD E\ĄD QD PLÛG]\QDURGRZ\FK IHVWLZDODFK
$UW\VWFH EÛG]LH WRZDU]\V]\Ą JRVSRGDU] PX]\F]Q\ ΖJRU 3U]HELQGRZVNL : SURJUDPLH ȴOPRZ\FK P LQ Z 0RVNZLH 7DMSHM %RORQLL %DUFHORQLH 6WDPEXOH L 3DU\ľX
PX]\F]QH ]DMÛFLD GOD G]LHFL Z ZLHNX SU]HGV]NROQ\P L ZF]HVQRV]NROQ\P D WDNľH
PLQLNRQFHUW GOD QDMPĄRGV]\FK 2SRODQ 0 0DULD 6DGRZVND E\ĄD JRĝFLHP 0DĄHM $NDGHPLL 3LRVHQNL PDUFD $UW\VWND ZUD]
] JRVSRGDU]HP PX]\F]Q\P ΖJRUHP 3U]HELQGRZVNLP ]DSURVLOL G]LHFL QD QLH]Z\NĄH ZDUV]WDW\
PX]\F]QH SRGF]DV NWµU\FK ZVSµOQLH ĝSLHZDOL DOH SU]HGH ZV]\VWNLP GREU]H VLÛ EDZLOL










































08=(80 32/6.Ζ(- 3Ζ26(1.Ζ

_ ZZZ PX]HXPSLRVHQNL SO _ PX]HXP#PX]HXPSLRVHQNL SO
XO 3LDVWRZVND $ 2SROH $PȴWHDWU ZHMĝFLH RG XO %DUOLFNLHJR





























4Q\YKLCO[ F\KGEKɂEȰ Y[QDTCʛPKɂ


9[FCYPKEVYQ #/''6 RQYUVCQ Y TQMW 1F UCOGIQ RQE\ȰVMW
PCU\[O EGNGO D[Q VYQT\GPKG YU\GEJUVTQPPKG CMV[YK\WLȰE[EJ
MUKȰʝGM FNC F\KGEK Y YKGMW RT\GFU\MQNP[O K YE\GUPQU\MQNP[O



1F RQPCF NCV TQ\YKLCO[ PCU\Ȱ QHGTVɂ Y[FCYPKE\Ȱ K F\Kɺ OQʝPC Y PKGL \PCNGʛȲ

ű MUKȰʝMK YURKGTCLȰEG TQ\YȡL PCLOQFU\[EJ F\KGEK
ű MUKȰʝMK CMV[YK\WLȰEG FQ MQNQTQYCPKC FNC F\KGEK Y YKGMW ť NCV
ű MUKȰʝMK FNC OC[EJ RTQLGMVCPVGM
ű MQNQTQYCPMK CTV[UV[E\PG K MUKȰʝMK FQ MTGCV[YP[EJ \CLɂȲ
ű RTQITCO GFWMCE[LP[ Ů&KUPG[ 7E\[ŭ UMKGTQYCP[ FQ F\KGEK Y YKGMW ť NCV
ű MUKȰʝMK \ MNQEMCOK .')1m
ű MUKȰʝMK \ QRQYKCFCPKCOK K MQOKMUCOK MUKȰʝMK \ QRQYKCFCPKCOK K MQOKMUCOK
ű
ű MUKȰʝMK FQ UCOQF\KGNPGIQ E\[VCPKC

6YQT\[O[ FNC F\KGEK K \ O[ɺNȰ Q F\KGEKCEJ

&\KGEK VQ PCLYF\KɂE\PKGLUK C LGFPQE\GɺPKG PCLDCTF\KGL Y[OCICLȰE[ QFDKQTE[ +EJ TQ\YȡL LGUV
FNC PCU DCTF\Q KUVQVP[ 6Q FNC PKEJ MTGWLGO[ MUKȰʝMK RGPG EKGMCY[EJ \CFCɧ GFWMCE[LP[EJ
K PKGVW\KPMQY[EJ RQO[UȡY

,CMQɺȲ ť VQ FNC PCU RQFUVCYC

5
5VCTCO[ UKɂ VCTCO[ UKɂ ʝGD[ MUKȰʝMK Y[FCYPKEVYC #/''6 URGPKC[ QE\GMKYCPKC MNKGPVȡY ť \CTȡYPQ
V[EJ PCLOQFU\[EJ LCM K KEJ TQF\KEȡY













































YYY COGGV RN

&KUPG[ 7E\[ 2T\[IQFC \ %\[VCPKGO

Ů2T\[IQFC \ %\[VCPKGOŭ VQ RTQITCO CFTGUQYCP[ FQ F\KGEK Y YKGMW
RT\GFU\MQNP[O TQ\RQE\[PCLȰE[EJ PCWMɂ E\[VCPKC &\KɂMK \CUVQUQYCPKW
TȡʝP[EJ OGVQF ť QF E\[VCPKC INQDCNPGIQ RQRT\G\ E\[VCPKG U[NCDQYG Cʝ FQ
CPCNKV[E\PQ U[PVGV[E\PGIQ ť \ RTQITCOW OQIȰ MQT\[UVCȲ K OQFU\G K UVCTU\G
RT\GFU\MQNCMK -UKȰʝMK RQYUVC[ RQF QRKGMȰ #PP[ -QTCNGYUMKGL ť FQTCFE[
OGVQF[E\PGIQ PCWE\[EKGNMK Y[EJQYCPKC RT\GFU\MQNPGIQ K GFWMCELK
YE\GUPQU\MQNPGL Y Œ%&0K-2 Y QRCTEKW Q RQFUVCYɂ RTQITCOQYȰ 6GMUV[
NKVGTCEMKG UVYQT\[NK \PCPK RKVGTCEMKG UVYQT\[NK \PCPK RQNUE[ CWVQT\[
N
2TQITCO \QUVC RQF\KGNQP[ PC RQ\KQO[ Ɖ Y \CNGʝPQɺEK QF \CUVQUQYCPGL OGVQF[
K UMQORNKMQYCPKC VGMUVW 4GMQOGPFQYCP[ LGUV FQ RTCE[ TQF\KEC \ F\KGEMKGO
/QʝG D[Ȳ VGʝ Y[MQT\[UV[YCP[ Y RT\GFU\MQNCEJ LCMQ PCT\ɂF\KG YURQOCICLȰEG
PCWMɂ CNHCDGVW K E\[VCPKC



&KUPG[ 7E\[ 2T\[IQFC \ %\[VCPKGO $ɂFɂ E\[VCȲ


Ů$ɂFɂ E\[VCȲŭ VQ MUKȰʝMK FQ E\[VCPKC PC RQ\KQOKG + MVȡT[ FGF[MQYCP[
LGUV PCLOQFU\[O F\KGEKQO 9[MQT\[UVCPC Y PKEJ OGVQFC E\[VCPKC
INQDCNPGIQ RQNGIC PC \CRCOKɂV[YCPKW Y[INȰFW ECGIQ Y[TC\W C PKG
RQU\E\GIȡNP[EJ NKVGT &\KGEMQ YKGNQMTQVPKG QINȰFC KNWUVTCELɂ K RQFRKU
C Y LGIQ RCOKɂEK RQYUVCLG QDTC\ 0CWMC LGUV RT\GFG YU\[UVMKO
\CDCYȰ FQ MVȡTGL \CEJɂECLȰ RQUVCEKG \G ɺYKCVC &KUPG[C &QFCVMQYȰ
OQV[YCELɂ UVCPQYKȰ PCMNGLMK PCITQF[ K F[RNQO OCGIQ E\[VGNPKMC




&KUPG[ 7E\[ 2T\[IQFC \ %\[VCPKGO %\[VCO \ OCOȰ K VCVȰ
Ů%\[VCO \ OCOȰ K VCVȰŭ VQ MUKȰʝMK PC RQ\KQOKG ++ RTQITCOW 0C V[O GVCRKG F\KGEK
WE\Ȱ UKɂ E\[VCȲ OGVQFȰ INQDCNPȰ \ Y[MQT\[UVCPKGO RKMVQITCOȡY 7E\GUVPKE\Ȱ
Y NGMVWT\G VGMUVW YKGTU\QYCPGIQ UCOQF\KGNPKG QFE\[VWLȰE Y[TC\[ RQYKȰ\CPG
ITCƓE\PKG \ RKMVQITCOCOK 6W VCMʝG PCWMC LGUV RT\GFG YU\[UVMKO \CDCYȰ FQ
MVȡTGL \CEJɂECLȰ \PCPG RQUVCEKG \G ɺYKCVC &KUPG[C /CNWEJ[ OQV[YWLGO[ \C
RQOQEȰ PCMNGLGM PCITQFQY[EJ K F[RNQOW E\[VGNPKMC





&KUPG[ 7E\[ 2T\[IQFC \ %\[VCPKGO -CTV[ GFWMCE[LPG

-CTV[ Ů2Q\PCLɂ NKVGT[ŭ VQ FQUMQPC[ URQUȡD ʝGD[ \C\PCLQOKȲ
RT\GFU\MQNCMK \ CNHCDGVGO K Y\DQICEKȲ KEJ UQYPKEVYQ <GUVCY UMCFC
UKɂ \ FYWF\KGUVW E\VGTGEJ FYWUVTQPP[EJ MCTV QTC\ MUKȰʝMK \ PCMNGLMCOK
2QFE\CU \CDCY[ F\KGEMQ RQ\PC CNHCDGV \OKɂME\GPKC K FYW\PCMK PCWE\[
UKɂ VCMʝG TQ\TȡʝPKCȲ OCG K YKGNMKG NKVGT[ 9 MUKȰʝEG TQF\KE \PCLF\KG
RTQRQ\[ELG \CDCY GFWMCE[LP[EJ \ Y[MQT\[UVCPKGO MCTV K PCMNGLGM
M MVȡTG FQFCVMQYQ \CEJɂEȰ OCNWEJC FQ ȲYKE\Gɧ C VCMʝG RQOQIȰ WVTYCNKȲ
\FQD[VȰ YKGF\ɂ /QIȰ QPG VCMʝG D[Ȳ KPURKTCELȰ FQ RQU\WMKYCPKC
YCUP[EJ RQO[UȡY \CLɂȲ YURKGTCLȰE[EJ TQ\YȡL PCLOQFU\[EJ











YYY COGGV RN



&KUPG[ 7E\[ %[HT[ ȱYKE\GPKC \ 0CMNGLMCOK

-UKȰʝMC YRTQYCF\C RKɂEKQNCVMK Y ɺYKCV E[HT K RT\[IQVQYWLG FQ PCWMK NKE\GPKC
2QFE\CU TQ\YKȰ\[YCPKC \CFCɧ F\KGEMQ ȲYKE\[ RKUCPKG E[HT RQ ɺNCF\KG
FQUMQPCNȰE Y VGP URQUȡD URTCYPQɺȲ OCPWCNPȰ K QRCPQYWLȰE VGEJPKMɂ
VT\[OCPKC QȡYMC &QFCVMQYQ WE\[ UKɂ Y[MQP[YCȲ RTQUVG F\KCCPKC PC
NKE\DCEJ 9 MUKȰʝEG QRTȡE\ TȡʝPQTQFP[EJ ȲYKE\Gɧ \YKȰ\CP[EJ \ E[HTCOK
\PCLFWLȰ UKɂ VCMʝG EKGMCYG \CFCPKC TQ\YKLCLȰEG URQUVT\GICYE\QɺȲ 9 \CLɂEKCEJ
F\KGEKQO VQYCT\[U\Ȱ WNWDKGPK DQJCVGTQYKG C FQFCVMQYȰ CVTCMELȰ UȰ PCMNGLMK
M
MVVȡTG OQʝPC Y[MQT\[UVCȲ RQFE\CU RTCE[



&KUPG[ 7E\[ 0QEPG PKGDQ -UKȰʝMC QFMT[YE[
9[LȰVMQYC RTQRQ\[ELC FNC YU\[UVMKEJ RCULQPCVȡY CUVTQPQOKK K \LCYKUM LCMKG \CEJQF\Ȱ
PC PCU\[O PKGDKG 9URCPKCG \FLɂEKC OPȡUVYQ MQNQTQY[EJ KNWUVTCELK K E\[VGNPG KPHQITCƓMK
RQ\YQNȰ F\KGEKQO DNKʝGL RQ\PCȲ PCU\Ȱ ICNCMV[Mɂ ť K PKG V[NMQ -UKȰʝMC \CYKGTC U\GTQMK
Y[DȡT HCMVȡY PC VGOCV \QT\[ RQNCTPGL EKGMCYQUVGM Q 7MCF\KG 5QPGE\P[O K QFRQYKCFC
PC YKGNG R[VCɧ \ \CMTGUW CUVTQPQOKK &\KGEK FQYKGF\Ȱ UKɂ O KP UMȰF UKɂ DKQTȰ PQE K F\KGɧ
KNG NCV K LCMȰ VGORGTCVWTɂ OC 5QɧEG K EQ VQ LGUV ŮNKUK QIKGɧŭ 6C MUKȰʝMC VQ RTQRQ\[ELC MVȡTC
\
\ RGY RGYPQɺEKȰ \CURQMQK IȡF YKGF\[ PCYGV PCLDCTF\KGL EKGMCYUMKEJ F\KGEK

&KUPG[ 7E\[ 1EGCP[ -UKȰʝMC QFMT[YE[

9[LȰVMQYC RTQRQ\[ELC FNC YU\[UVMKEJ RCULQPCVȡY ɺYKCVC QEGCPȡY 6C
HCUE[PWLȰEC MUKȰʝMC RGPC LGUV YURCPKC[EJ \FLɂȲ MQNQTQY[EJ KNWUVTCELK
K
K KPHQITCƓM F\KɂMK M KPHQITCƓM F\KɂMK MVȡT[O F\KGEK DɂFȰ OQI[ RT\[LT\GȲ UKɂ \ DNKUMC
RQFYQFPGOW ɺYKCVW ť QF Y[RGPKQPGL UQɧEGO TCH[ MQTCNQYGL RQ
PCLEKGOPKGLU\G IɂDKP[ 2Q\PCLȰ VCLGOPKEG OQTUMKEJ \YKGT\ȰV K KPPG \LCYKUMC
\YKȰ\CPG \ ʝ[EKGO Y QEGCPCEJ 2Q EQ QɺOKQTPKEC WFCLG ƔȰFTɂ! &NCE\GIQ
RGYKGP DNKUMK MTGYPKCM 0GOQ PC\[YCP[ LGUV EJKTWTIKGO! %\[ WMYKC VQ MYKCV
E\[ \YKGT\ɂ! %\[O LGUV GEJQNQMCELC! ,CM ɺRKȰ Y[FT[ OQTUMKG! 0C VG K KPPG
R[VCPKC YU\[UVMKG EKGMCYG ɺYKCVC F\KGEK \PCLFȰ QFRQYKGF\K Y MUKȰʝEG
Ů
Ů1EGCP1EGCP[ -UKȰʝMC QFMT[YE[ŭ


&KUPG[ 7E\[ <CFCPKC FQ <OC\[YCPKC

5GTKC MUKȰʝGM MVȡTC RQYUVCC Y TCOCEJ RTQITCOW GFWMCE[LPGIQ &KUPG[ 7E\[
&\KɂMK PKGL F\KGEMQ RQFE\CU FQUMQPCGL \CDCY[ OC QMC\Lɂ \OKGT\[Ȳ UKɂ
\ QFRQYKGFPKOK FNC LGIQ YKGMW TȡʝPQTQFP[OK \CFCPKCOK GFWMCE[LP[OK ɹEKGTCNPG
UVTQP[ QTC\ FQȰE\QP[ FQ MUKȰʝMK OC\CM URTCYKCLȰ ʝG RT\GFU\MQNCM OQʝG
YKGNQMTQVPKG TQ\YKȰ\[YCȲ UYQLG WNWDKQPG \CFCPKC 0CT[UQYCPG U\NCE\MK DG\ VTWFW
OQʝPC \GVT\GȲ K \CE\ȰȲ \CDCYɂ QF PQYC 5GTKC LGUV FQUMQPC[O PCT\ɂF\KGO F\KɂMK
MVȡTGOW RT\GFU\MQNCM ȲYKE\[ OQVQT[Mɂ OCȰ K TQ\YKLC WOKGLɂVPQɺȲ MQPEGPVTCELK



-UKȰʝMK \ UGTKK &KUPG[ 7E\[ Ů2T\[IQFC \ %\[VCPKGO 2Q\PCLɂ CNHCDGVŭ Ů4Q\YKȰ\WLɂ 5COC 4Q\YKȰ\WLɂ 5COŭ
Ů.KVGT[ ȱYKE\GPKC \ 0CMNGLMCOKŭ Ů%[HT[ ȱYKE\GPKC \ 0CMNGLMCOKŭ Ů0QEPG PKGDQ -UKȰʝMC QFMT[YE[ŭ
Ů1EGCP[ -UKȰʝMC QFMT[YE[ŭ Ů<CFCPKC FQ <OC\[YCPKCŭ WMCʝȰ UKɂ PC T[PMW Y UKGTRPKW TQMW











YYY COGGV RN









XO 0RG]HOHZVNLHJR
$JHQFMD 0X]\F]QD 3ROVNLHJR 5DGLD :DUV]DZD
7HO
SROHFD DOEXP\ GOD G]LHFL VNOHS#SROVNLHUDGLR SO

ZZZ VNOHS SROVNLHUDGLR SO






$QLHOVNLH VSUDZNL



ì$QLHOVNLH 6SUDZNLë WR KLVWRULD FKRUHM G]LHZF]\QNL å 0XV]HONL NWµUHM
QDMOHSV]\PL SU]\MDFLµÊPL Và RGZLHG]DMÃFH Mà $QLRÊ\ %DMND ]RVWDÊD
Z\EUDQD VSRÐUµG SRQDG QDGHVÊDQ\FK SU]H] SHGDJRJµZ =HVSRÊX
6]NµÊ 6SHFMDOQ\FK QU LP (Z\ 6]HOEXUJ å =DUHPELQ\ Z ,3&=' ]H
Z]JOÇGX QD MHM SR]\W\ZQ\ SU]HND] RUD] ZDUWRÐFL WHUDSHXW\F]QH


&HQD ]Ê






2SRZLHÐFL %LEOLMQH


']LHFL SR]QDMÃ ÐZLDW QD Uµ×QH VSRVRE\ 2ERN ZVSµOQHM OHNWXU\
SURSRQXMHP\ ZVSµOQH VÊXFKDQLH WHNVWµZ NWµUH SU]\VWÇSQ\P MÇ]\NLHP
SU]\EOL×à WUHÐÅ %LEOLL 6SHFMDOQLH Z\EUDQH ]DJDGQLHQLD 3LVPD ÏZLÇWHJR
SU]HGVWDZLRQH Z NUµWNLFK L QLH]Z\NOH EDUZQ\FK RSRZLHÐFLDFK
]DFKÇFÃ G]LHFL GR GDOV]HJR SR]QDZDQLD %LEOLL 1D F]WHUHFK SÊ\WDFK &'
WHNVW\ RSUDZLRQH PX]\NÃ 5HQDW\ %DV]XQ F]\WD $QGU]HM .UXVLHZLF]


&HQD ]Ê






.DVLD L 3LSSL QD WURSLH =DJXELRQ\ 3DQWRIHOHN

3Ê\WD ] PX]\NÃ GOD G]LHFL ] NRQFHUWX SW ì=DJXELRQ\ SDQWRIHOHNë
NWµU\ RGE\Ê VLÇ Z GQLDFK PDUFD U Z 6WXGLX .RQFHUWRZ\P
LP : /XWRVÊDZVNLHJR Z :DUV]DZLH 3RGF]DV NRQFHUWX ]RVWDÊD
]DSUH]HQWRZDQD PX]\ND ] Uµ×Q\FK VWURQ ÐZLDWD DWUDNF\MQD QDZHW
GOD EDUG]R PÊRG\FK VÊXFKDF]\ :\ERUX GRNRQDÊD G]LHQQLNDUND
3URJUDPX .DVLD 6WRSDUF]\N NWµUHM EOLVND MHVW WHPDW\ND G]LHFLÇFD


&HQD ]Ê

3LRVHQNL QLH W\ONR R ]ZLHU]ÇWDFK


ì3LRVHQNL QLH W\ONR R ]ZLHU]ÇWDFKë ,]DEHOL %\U\ WR SÊ\WD GHG\NRZDQD
QDMPÊRGV]\P 1RZDWRUVWZR L QLH]Z\NÊRÐÅ WHM PX]\NL SROHJD QD
SRZD×Q\P WUDNWRZDQLX G]LHFND VÊXFKDF]D ]DUµZQR Z VIHU]H
WHNVWRZHM MDN L PX]\F]QHM FKRÅ ] GX×à GR]à GRZFLSX ,VWRWQD MHVW WH×
V]F]HURÐÅ L F]\VWRÐÅ SU]HND]X


&HQD ]Ê







5DSXMÃFH F\IU\


3Ê\WD ê5DSXMÃFH F\IU\ë ]DZLHUD DXWRUVNLFK G]LHFLÇF\FK
SLRVHQHN .D×GD ] SLRVHQHN RSDUWD MHVW QD
LQQ\P FKDUDNWHU\VW\F]Q\P U\WPLH MHVW W\WXÊRZ\ UDS
ERRJLH UHJJDH VZLQJ ZDOF DOH WH× SROVNLH U\WP\ å NXMDZLDN
REHUHN F]\ F]HVND SROND


&HQD ]Ê






=DMÇFLD GRGDWNRZH

'UXJD SÊ\WD ']LHFLÇFHJR =HVSRÊX .251,., NWµU\ WZRU]Ã G]LHFL
] 5\SLQD L R 5\SLQD L RNROLF Z ZLHNX ODW NWµUH UHJXODUQLH ÅZLF]Ã VZµM ZDUV]WDW
]
ZRNDOQ\ SRG RNLHP &]DUND .XEDFNLHJR :LHORNURWQLH EUDÊ\ XG]LDÊ L ]GRE\ZDÊ\
QDJURG\ Z NRQNXUVDFK ZRMHZµG]NLFK RJµOQRSROVNLFK L PLÇG]\QDURGRZ\FK
$OEXP ]QDF]QLH RGELHJD RG W\SRZ\FK SURGXNFML SÊ\WRZ\FK GOD G]LHFL
6W\OLVW\F]QLH ]Uµ×QLFRZDQD ]DZLHUD XWZRU\ Z VW\OLVW\FH UHJJDH KDUG URFND
EOXHJUDVVX VDPE\ F]\ URFN Q UROOD

&HQD ]Ê






-DQ 3DZHÊ ,, F]\OL MDN .DUROHN ]RVWDÊ SDSLH×HP


3HÊQ\ WHNVW NVLÃ×NL ]RVWDÊ QDJUDQ\ Z IRUPLH VÊXFKRZLVND JG]LH RN
DNWRUµZ ZFLHOLÊR VLÇ Z UROH SRVWDFL ]DPLHV]F]RQ\FK Z NVLÃ×FH
$NWRUVNLH Z\NRQDQLH WHNVWX ]RVWDÊR RSUDZLRQH HIHNWDPL
GÕZLÇNRZ\PL RUD] PX]\NÃ +LVWRULD SU]HGVWDZLRQD MHVW Z VSRVµE
SURVW\ L ]UR]XPLDÊ\ VSHFMDOQLH GOD PÊRGHJR VÊXFKDF]D


&HQD ]Ê

'RNWRU :LWDPLQND


3Ê\WD ì'U :LWDPLQNDë ]HVSRÊX 2UHJDQNL SRG ZLHORPD Z]JOÇGDPL MHVW
Z\MÃWNRZD
-HVW G]LHFNLHP GLHWHW\ND -RDQQ\ 1HXKRII 0XUDZVNLHM åDXWRUNL
WHNVWµZ L =E\V]ND 0XUDZVNLHJR å DXWRUD PX]\NL -HM SRZVWDQLH E\ÊR
PR×OLZH G]LÇNL ZVSDQLDÊ\P PX]\NRP L G]LHFLRP ] JUXS\ ZRNDOQHM
7HUHVLÌVNLHJR 2ÐURGND .XOWXU\


&HQD ]Ê






.RUQLNL

3Ê\WD ] SLRVHQNDPL GOD G]LHFL Z ZLHNX ODW ]DZLHUDMÃFD
SU]HERMRZ\FK XWZRUµZ Z VW\OX URFN UROOD ] ODW L PX]\NL IRON 3Ê\WD
]DZLHUD UµZQLH× MDNR ERQXV XWZRU\ Z ZHUVML NDUDRNH

.RUQLNL ]HVSµÊ G]LHFLÇF\ ] 5\SLQD ]GRE\ZFD ZLHOX QDJUµG QD
RJµOQRSROVNLFK SU]HJOÃGDFK 'RGDWNRZR Z QDJUDQLX Z\NRU]\VWDQR
]HVSµÊ DNRPSDQLXMÃF\ ]ÊR×RQ\ ] WUDG\F\MQ\FK DNXVW\F]Q\FK
LQVWUXPHQWµZ


&HQD ]Ê





3ROVNLH 5DGLR ']LHFLRP 9ROXPH


3ROVNLH 5DGLR SUH]HQWXMH QDMSLÇNQLHMV]H XWZRU\ DXWRUVWZD -DQD
%U]HFKZ\ UHF\WRZDQH SU]H] Z\ELWQ\FK DNWRUµZ L ÐSLHZDQH SU]H]
Z\ELWQ\FK DUW\VWµZ -HGHQ ] XWZRUµZ UHF\WRZDQ\ MHVW RVRELÐFLH SU]H]
-DQD %U]HFKZÇ :ÐUµG Z\NRQDZFµZ QDOH×\ Z\PLHQLÅ P LQ ,UHQÇ
.ZLDWNRZVNÃ .U\VW\QÇ 6LHQNLHZLF] $QGU]HMD %RJXFNLHJR =ELJQLHZD
=DSDVLHZLF]D 0DU\OÇ 5RGRZLF] $OLFMH 0DMHZVNÃ

&HQD ]Ê







3ROVNLH 5DGLR ']LHFLRP YRO -XOLDQ 7XZLP

.ROHMQD SÊ\WD ] VHULL 3ROVNLH 5DGLR ']LHFLRP ]DZLHUD QDMSLÇNQLHMV]H
XWZRU\ DXWRUVWZD -XOLDQD 7XZLPD UHF\WRZDQH SU]H] Z\ELWQ\FK DNWRUµZ
L ÐSLHZDQH SU]H] Z\ELWQ\FK DUW\VWµZ 6ZRLFK JÊRVµZ XG]LHODMÃ WX
P LQ ,UHQD .ZLDWNRZVND 0DJGDOHQD =DZDG]ND :LHÌF]\VÊDZ *OLÌVNL
0DULDQ .RVLQLDN $QGU]HM %RJXFNL $QQD 6HQLXN :LNWRU =ERURZVNL
-DGZLJD 5DSSH $OLFMD 0DMHZVND 6WDQLVÊDZD &HOLÌVND .U\VW\QD
.UµOµZQD :ÊDG\VÊDZ .RZDOVNL 5\V]DUG %DU\F]

&HQD ]Ê

3ROVNLH 5DGLR ']LHFLRP YRO

ì3U]\JRG\ 'RU\ L )ORU\ë WR Z\ÐPLHQLWH ]DUµZQR SRG Z]JOÇGHP
OLWHUDFNLP MDN L PX]\F]Q\P VÊXFKRZLVNR GOD G]LHFL 3RZVWDÊR ODW WHPX
DOH QLH WD RNUÃJÊD Z NRÌFX URF]QLFD MHVW SRZRGHP GOD NWµUHJR ZDUWR
L WU]HED MH SU]\SRPQLHÅ 6WZRU]\Ê\ MH VDPH ]QDNRPLWRÐFL D WR (ULF
/LQNODWHU ÐZLHWQ\ SLVDU] DQJLHOVNL NWµU\ Z URNX QDSLVDÊ NVLÃ×NÇ
ì7KH :LQG 2Q 7KH 0RRQë XKRQRURZDQÃ URN SµÕQLHM QLH]Z\NOH
SUHVWL×RZÃ EU\W\MVNÃ QDJURGÃ OLWHUDFNÃ &DUQHJLH 0HGDO

&HQD ]Ê








3ROVNLH 5DGLR ']LHFLRP YRO


0RQRJUDĆF]Q\ DOEXP &' ]DZLHUDMÃF\ XWZRU\ GOD G]LHFL -DQLQ\
3RUD]LÌVNLHM MHVW NRQW\QXDFMÃ SURFHVX XGRVWÇSQLDQLD
]ELRUµZ $UFKLZXP 3ROVNLHJR 5DGLD V]HURNLHPX DXG\WRULXP -HJR WUHÐÅ
VWDQRZLÃ EDÐQLH SRH]MD SU]\SRZLHÐFL L SLHÐQL DXWRUVWZD SROVNLHM SRHWNL
SLVDUNL L WÊXPDF]NL OLWHUDWXU\ V]ZHG]NRMÇ]\F]QHM -DQLQ\ 3RUD]LÌVNLHM

&HQD ]Ê








3ROVNLH 5DGLR ']LHFLRP YRO


.ROHMQ\ DOEXP ] VHULL 3ROVNLH 5DGLR ']LHFLRP QD NWµU\P ]QDOD]Ê\ VLÇ
]UHNRQVWUXRZDQH GÕZLÇNRZR DUFKLZDOQH VÊXFKRZLVND ]UHDOL]RZDQH
Z 7HDWU]H 3ROVNLHJR 5DGLD 7\P UD]HP VÃ WR DGDSWDFMH GZµFK NODV\F]Q\FK
EDÐQL GOD G]LHFL &]HUZRQHJR .DSWXUND RUD] 2 W\P MDN NUDZLHF SDQ
1LWHF]ND NUµOHP ]RVWDÊ


&HQD ]Ê








3ROVNLH 5DGLR ']LHFLRP YRO


6]µVWD S\WD ] VHULL 3ROVNLH 5DGLR ']LHFLRP $OEXP ]DZLHUD DGDSWDFMH
WU]HFK NODV\F]Q\FK EDÐQL GOD G]LHFL ÏSLÃFD .UµOHZQD ,PEU\F]HN
5µ×RZ\ EDORQLN 0X]\NÇ GR VÊXFKRZLVN VNRPSRQRZDÊ L QDJUDÊ ZUD] ]H
VZRLP ]HVSRÊHP -HU]\ :DVRZVNL NWµU\ Z\VWÃSLÊ UµZQLH× Z UROL
QDUUDWRUD DXWRUD L Z\NRQDZF\ SLRVHQHN


&HQD ]Ê









)"-$".1 VM 4QؒE[JFMD[B
,njUZ 8SPD’BXTLJF
UFM GBY

XXX IBMDBNQ QM

CJVSP!IBMDBNQ QM





/
/BKOPXT[B TFSJB LT[UB’UFL )"-$".1 UP NPȈMJXPǴǎ SP[XPKV J TUZNVMBDKJ BKOPXT[B TFSJB LT[UB’UFL )"-$".1 UP NPȈMJXPǴǎ SP[XPKV J TUZNVMBDKJ BKOPXT[B TFSJB LT[UB’UFL )"-$".1 UP NPȈMJXPǴǎ SP[XPKV J TUZNVMBDKJ
/
TFOTPNPUPSZD[OFK E[JFDJ E[JǗLJ D[FNV CǗEnj POF X PEQPXJFEOJ TQPTØC QP[OBXB’Z FOTPNPUPSZD[OFK E[JFDJ E[JǗLJ D[FNV CǗEnj POF X PEQPXJFEOJ TQPTØC QP[OBXB’Z FOTPNPUPSZD[OFK E[JFDJ E[JǗLJ D[FNV CǗEnj POF X PEQPXJFEOJ TQPTØC QP[OBXB’Z
T
T
J LSFPXB’Z TXØK ǴXJBU LSFPXB’Z TXØK ǴXJBU LSFPXB’Z TXØK ǴXJBU
J
J
/BKXZȈT[FK KBLPǴDJ NBUFSJB’Z VȈZUF EP QSPEVLDKJ PSB[ QPOBE UP MFUOJF EPǴXJBED[FOJF BKXZȈT[FK KBLPǴDJ NBUFSJB’Z VȈZUF EP QSPEVLDKJ PSB[ QPOBE UP MFUOJF EPǴXJBED[FOJF BKXZȈT[FK KBLPǴDJ NBUFSJB’Z VȈZUF EP QSPEVLDKJ PSB[ QPOBE UP MFUOJF EPǴXJBED[FOJF
/
/
T
TQSBXJ’Z ȈF UXPS[ZNZ BSUZLV’Z LUØSF Tnj XZCPSFN OB E’VHJF MBUB QSBXJ’Z ȈF UXPS[ZNZ BSUZLV’Z LUØSF Tnj XZCPSFN OB E’VHJF MBUB QSBXJ’Z ȈF UXPS[ZNZ BSUZLV’Z LUØSF Tnj XZCPSFN OB E’VHJF MBUB
T
5
5
5
5P X 1BǩTUXB SǗDF PEEBKFNZ NPȈMJXPǴǎ TLPNQPOPXBOJB TXPKFHP VOJLBUPXFHP J XZKnjULPXFHP [FTUBXV
QPQS[F[ XZCSBOJF QPT[D[FHØMOZDI FMFNFOUØX [ QPǴSØE CPHBUFK PGFSUZ X[PSØX TUBOEBSEPXZDI CnjEȇ
TQFDKBMOJF EMB 1BǩTUXB [BQSPKFLUPXBOJF DB’LPXJDJF OPXZDI GPSN EPTUPTPXBOZDI EP 1BǩTUXB QPUS[FC
%BKNZ XTQØMOJF E[JFDJPN NPȈMJXPǴDJ SP[XPKV PSB[ LSFBDKJ ǴXJBUB UBLJN KBLJN HP XJE[nj
.BDJFK (’PXJǩTLJ 8’BǴDJDJFM öSNZ )"-$".1
%-"$;&(0 8"350 8:#3"ƍ 8Œ"ƴ/*& )"-$".1

















#&;1*&$;&Ʃ4580 8:40," +",0ƴƍ ,3&"5:8/& Œ"580ƴƍ
/" -"5" 30;8*Ƌ;"/*" 653;:."/*"





$&35:'*,08"/& 4;&30," 1"-&5"
."5&3*"Œ: ,0-03:45:$;/"








/"4;& $&35:'*,"5:

'JSNB )BMDBNQ X TXPKFK PGFSDJF QPTJBEB SØXOJFȈ
SØȈOPSPEOF QPNPDF PHØMOPSP[XPKPXF J UFSBQFVUZD[OF
EMB E[JFDJ [ SØȈOZNJ OJFQF’OPTQSBXOPǴDJBNJ D[VDJPXZNJ
SVDIPXZNJ KBL SØXOJFȈ JOUFMFLUVBMOZNJ



8"Œ&, 1*Œ&$;,"
03;&4;&, ; ,0-$".*



















1*Œ&$;,* ; ,0-$".*






1»Œ,6-& ; 8:1645,".*



















."5" &7" ; 8:1645,".* %:4,* ; ,0-$".*



















10%64;,* (3&&/ -*'&
XXX IBMDBNQ QM

)6ƴ5"8,"























86-,"/ */41*3"$+* 4,-&1*,
$FDInj DIBSBLUFSZTUZD[Onj LT[UB’UFL


)BMDBNQ KFTU NPȈMJXPǴǎ JDI EPXPMOFHP









QP’njD[FOJB UXPS[njD UZN TBNZN TXPKF VOJLBUPXF
J XZKnjULPXF [FTUBXZ



ƴ$*&Lj," ;%308*" ,30,0%:-



























#"4&/ ; 1*Œ,".* 10$*Ƌ(

.045
VVV[email protected]@LOOK

)6ƴ5"8,"























86-,"/ */41*3"$+* 4,-&1*,
$FDInj DIBSBLUFSZTUZD[Onj LT[UB’UFL


)BMDBNQ KFTU NPȈMJXPǴǎ JDI EPXPMOFHP









QP’njD[FOJB UXPS[njD UZN TBNZN TXPKF VOJLBUPXF
J XZKnjULPXF [FTUBXZ



ƴ$*&Lj," ;%308*" ,30,0%:-



























#"4&/ ; 1*Œ,".* 10$*Ƌ(

.045
VVV[email protected]@LOOK

3°ñē Ñ ñÝ°ã÷ĖÄȤ ÜüèôÄ ñçüôĖÄ»þÛļÑÄȩ



4ÑÄÜüèôÄ ã°÷ĖÄ ñôçÀþÜüē ñç÷Ñ°À°Û· ¼ÄôüēķÜ°ü øôçÀÜèđ ÀēÀ°Üüē¼Ėãē¼Ð Ė°Ýļ°ãē¼Ð Àç þęēüÜþ ÷ĖÜçÝãÄÎçȩ ã°À°ãē ñôĖÄĖ 3ÑãÑ÷üô° ÀþÜ°¼ÛÑ 4°ôçÀçđÄÛ Ñ HñçôüþȮ





B. 4H]



XēÀ°đãѼüđ° HL# . NE8 EL á·¼Ė·¼ üô°Àē¼ēÛãÄ Ñ ãçđç¼ĖÄ÷ãÄ 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 üôÄø¼ÑȤ ç»ô°ĖēȤ đēÜôÄ÷ēȤ
÷¼ÐÄâ°üēȤ ½đѼĖÄãÑ° Ñ ÑãÍçôâ°¼ÛÄ ñÝ°ã÷ĖÄ ÷· ¼Äããēâ ėôèÀáÄâ đÑÄÀĖē ÀÝ°
þ¼ĖãÑèđ ÷ĖÜèá ñçÀ÷ü°đçđē¼ÐȤ ÎÑâã°ĖÛèđ Ñ ÷ĖÜèá øôÄÀãѼÐȩ




3 BZ H]-8.4




XēÀ°đãѼüđ° HL# . NE8 EL đ ÷đçÛÄÛ çÍÄô¼ÑÄ
ñôçñçãþÛÄ ñçã°À 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°ãçô°âѼĖãÄ Ñ ÷°üÄÝÑü°ôãÄȩ




B838 BE] H]-8.4



4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē
ÑãüÄô°ÜüēđãÄȤ ñÝ°ã÷ĖÄ Àç ÎÑÄô Ñ Ė°»°đȤ ÜÝç¼ÜÑ BçÝēÀôçãȤ çô°Ė üô°Àē¼ēÛãÄ ñÝ°ã÷ĖÄ ø¼ÑÄããÄ Üçã¼ÄãüôþÛ· ÷ÑÌ ã°
đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ 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 »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ




48X8I
3°ñ° øđÑ°ü° ÀÝ° ÀĖÑļÑ













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 Ñ ñÝ°ã÷ĖÄȤ ÜüèôÄ ñçüôĖÄ»þÛļÑÄȩ



4ÑÄÜüèôÄ ã°÷ĖÄ ñôçÀþÜüē ñç÷Ñ°À°Û· ¼ÄôüēķÜ°ü øôçÀÜèđ ÀēÀ°Üüē¼Ėãē¼Ð Ė°Ýļ°ãē¼Ð Àç þęēüÜþ ÷ĖÜçÝãÄÎçȩ ã°À°ãē ñôĖÄĖ 3ÑãÑ÷üô° ÀþÜ°¼ÛÑ 4°ôçÀçđÄÛ Ñ HñçôüþȮ





B. 4H]



XēÀ°đãѼüđ° HL# . NE8 EL á·¼Ė·¼ üô°Àē¼ēÛãÄ Ñ ãçđç¼ĖÄ÷ãÄ 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 üôÄø¼ÑȤ ç»ô°ĖēȤ đēÜôÄ÷ēȤ
÷¼ÐÄâ°üēȤ ½đѼĖÄãÑ° Ñ ÑãÍçôâ°¼ÛÄ ñÝ°ã÷ĖÄ ÷· ¼Äããēâ ėôèÀáÄâ đÑÄÀĖē ÀÝ°
þ¼ĖãÑèđ ÷ĖÜèá ñçÀ÷ü°đçđē¼ÐȤ ÎÑâã°ĖÛèđ Ñ ÷ĖÜèá øôÄÀãѼÐȩ




3 BZ H]-8.4




XēÀ°đãѼüđ° HL# . NE8 EL đ ÷đçÛÄÛ çÍÄô¼ÑÄ
ñôçñçãþÛÄ ñçã°À 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°ãçô°âѼĖãÄ Ñ ÷°üÄÝÑü°ôãÄȩ




B838 BE] H]-8.4



4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē
ÑãüÄô°ÜüēđãÄȤ ñÝ°ã÷ĖÄ Àç ÎÑÄô Ñ Ė°»°đȤ ÜÝç¼ÜÑ BçÝēÀôçãȤ çô°Ė üô°Àē¼ēÛãÄ ñÝ°ã÷ĖÄ ø¼ÑÄããÄ Üçã¼ÄãüôþÛ· ÷ÑÌ ã°
đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ 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 »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ




48X8I
3°ñ° øđÑ°ü° ÀÝ° ÀĖÑļÑ













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

#4L E -LZX4 BE8 E 3Z N- Z,4



4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄ
Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ 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 »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ




















L .# #4L E -LZX4 ȴ 3N.L#3 #




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
















.8 NHZ















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

#4L E -LZX4 BE8 E 3Z N- Z,4



4çđç¼ĖÄ÷ãÄ ¼ēÍôçđÄ ÑãüÄô°ÜüēđãÄ ã°ôĖÌÀĖÑ° Àç ã°þ¼Ė°ãÑ° ÀĖÑÄ¼Ñ đ đÑÄÜþ ñôĖÄÀ÷ĖÜçÝãēâ Ñ ÷ĖÜçÝãēâȤ ñôçÎô°âē ÑãüÄô°ÜüēđãÄ
Üçã¼ÄãüôþÛ· ÷ÑÌ ã° đ÷ĖļÐ÷üôçããēâ ôçĖđçÛþ ç÷ç»çđçø¼Ñ ÀĖÑļܰȩ 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 »ÄĖñÑļĖÄä÷üđ° NãÑÑ þôçñÄÛ÷ÜÑÄÛȩ




















L .# #4L E -LZX4 ȴ 3N.L#3 #




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
















.8 NHZ















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


Click to View FlipBook Version
Previous Book
Ek Kontenjan
Next Book
Customized Children’s book Sample 2