the jere beasley report, dec. 2008

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Ckstrkeutgc t` `vgr 37,=== suesnrkegrs glni d`fti  www.EglsbgyLbbgf.n`d Cgngdegr 5==9

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8/9/2019 The Jere Beasley Report, Dec. 2008

http://slidepdf.com/reader/full/the-jere-beasley-report-dec-2008 1/48

Ckstrkeutgc t` vgr 37,=== suesnrkegrs glni d`fti

www.EglsbgyLbbgf.n`d

Cgngdegr 5==9

8/9/2019 The Jere Beasley Report, Dec. 2008

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K.NL]KS@B@E^GUXLSK@F^

L F GQ LFC E GSSGU C L[ H @U S IG W FKSGC ^ SLSG^ @ H LDGUKNL

Sig ikst`rkn gbgntk`f `h Elrlno @eldl ls ]rgskcgft `h tig Wfktgc^tltgs erkfas le`ut l fgw cly kf

Ldgrknl. Kt‛s dy egbkgh tilt kt wkbb eg legttgr cly h`r lbb Ldgrknlfs.Sig @eldlprgskcgfny wkbb igbp erkfa `ur fltk`ft`agtigr lt l tkdg wigf ufkty ks s`elcby fggcgc.Sig ]rgskcgft-Gbgnt wkbberkfa tig vgry egst `h Ldgrknl kft` iksNlekfgt lfc kft` lbb ogy p`sktk`fs kf iks

Lcdkfkstrltk`f lfc ig wkbb eg l prgsk-cgft h`r lbb Ldgrknlfs. Silt wkbb eggssgftklb t` iks sunngss.Ls wg of`w lbbt`` wgbb,tig @eldl Lcdkfkstrltk`f wkbbkfigrkt tig d`st sgrk`us sgt `h pr`e-bgds `ur fltk`f ils sggf kf yglrs. Kt

wkbb tlog l ekplrtkslf lppr`lni t` a`v-grfkfa t` s`bvg tigsg pr`ebgds.^uni lflppr`lni nlf fby n`dg hr d l pgrs f

wkti tig lekbkty, tig cgskrg lfc tign`urlag rgqukrgc h`r tkdgs bkog tigsg.Dly A`c ebgss tig fgw ]rgskcgft–ikshldkby, `ur fltk`f,lfc lbb h ur pg`pbg.

BLQ^WKS K F D @EKBG ^ GSSBGC

Qg rgngftby sgttbgc l nlsg tilt lr`sg`ut `h l ikaiwly n`bbksk`f `f egilbh `h lD`ekbg dlf wi`sg nlsg ilc eggfpgfckfa kf D`ekbg N`ufty NkrnuktN`urt. Sig d`t`r vgiknbg lnnkcgft`nnurrgc `f tig gvgfkfa `h @nt`egr <;,5==8 wigf l blrag Eucwgksgr truno sblddgc kft` tig rglr `h tig ^lturflut`d ekbg kf wikni `ur nbkgft wlsrkckfa ls l elno-sglt plssgfagr. Sigcrkvgr `h tig ^lturf ilc t` st`p h`r lH`rc Gxpb`rgr tilt wls ckslebgc kf tigbght blfg `h tig lppr`lni t` tig QlbblngSuffgb `f K-<= kf D`ekbg.Sig Eucwgksgr truno wls trlvgbkfa lt le`ut 8= t` 87dpi lfc wls uflebg t` st`p egh`rgsblddkfa kft` tig ^lturf. Sig p`stgcspggc bkdkt `f tig ikaiwly wls 77dpi.Lbs`, tigrg wls l skaf tilt rgqukrgctrunos t` usg tig rkait blfg h trlhhkn.

@ur nbkgft wls sgvgrgby kfjurgc kf tign`bbksk`f lfc suhhgrgc wilt ks rghgrrgct` ls l eurst n`dprgssk`f hrlnturg `h iks elno. Ls l rgsubt, ig ilc t` ilvg l

cgn`dprgssk`f lfc husk`f `h iks spkfg.Siks dlf wls h`rtufltg t` ilvg sur-

vkvgc tig nrlsi skfng tig ^lturf wlsrgfcgrgc l t`tlb b`ss wkti tig rglr gfcbktgrlbby nrusigc. Ls l rgsubt `h ikskfjurkgs, ig nlf f` b`fagr pgrh`rd ikscutkgs ls l wlrgi`usg supgrvks`r lt lb`nlb euskfgss gstlebksidgft.@ur nbkgft

wkbb a elno t` sni `b s` tilt ig nlf eg

rgtrlkfgc h`r l j`e tilt ig nlf c`. Ltprgsgft–tw` yglrs p`st lnnkcgft–igstkbb ils t` usg l wiggbnilkr, l wlbogr `r l h`ur-pr`fa nlfg kf `rcgr t` ldeubltg.@ur nbkgft wkbb rgqukrg huturg dgcknlbtrgltdgft tigrlpy lfc rgilekbktltk`f.Iks bkhg nlrg pblf wls d`st n`fsgrvl-tkvg lfc tig n`st `h tig pblf, rgcungct` prgsgft vlbug, lfc `tigr cldlags,kfnbuckfa dgcknlb gxpgfsgs lfc b`ss `h glrfkfas,wls $5.>8 Dkbbk`f.

L hgw clys lhtgr dgckltk`f, tig nlsg wls sgttbgc h`r $8.7 dkbbk`f. Sig nlsg

ilc eggf snigcubgc h`r trklb kf le`uttgf clys. BlElrr`f E` fg wls tig bglcblwygr hr`d `ur hkrd kf tig nlsg. Arga

Lbbgf lfc K, lb`fa wkti Qgsbgy ]kttgrs, lD`fta`dgry blwygr, wgrg lbs` kfv`bvgckf ilfcbkfa tig nlsg. H`rtufltgby, wg`etlkfgc l vgry a``c sgttbgdgft h r `ur nbkgft lfc iks wkhg. F`w tigy–lb`fa wkti tigkr tw` hkfg nikbcrgf–nlf agt `f wkti tigkr bkvgs.

LBLELDL ‛ E W^KFG^^ N BKDLSG U LFO^

F WDEGU S IUGG LD@FA ^ SLSG^

Lbleldl ks stkbb l a``c pblng h r eusk-fgss. Siks rlfokfa wls lnof`wbgcagc

wigf, lnn`rckfa t` l fgw rlfokfa hr`d^ktg ^gbgntk`f dlalzkfg, Lbleldl tkgc

wkti Sgxls h`r tikrc pblng ld`fa tigstltgs wkti tig t`p euskfgss nbkdltgs.F`rti Nlr`bkfl lfc Sgffgssgg rlfogchkrst lfc sgn`fc, rgspgntkvgby, lfcKfcklfl t``o tig hkhti sp`t.Sig t`p tgf

wls r`ufcgc `ut wkti Hb`rkcl, @ik`, Xkrakfkl, Kbbkf`ks lfc Ag`rakl.Sig gn`-

f`dkn cgvgb`pdgft puebknltk`f‛slffulb euskfgss nbkdltg rlfokfas lrgcgtgrdkfgc ey n`fskcgrkfa tig stltg‛spgrh`rdlfng kf N`fwly Cltl‛s ‒Fgw ]blft Cltlelsg,— wikni trlnos fgw lfcgxplfcgc euskfgss hlnkbkty lntkvkty lfcl survgy `h n rp rltg sktg sggogrslnr`ss tig n`uftry.

^ktg sgbgnt`rs lbs` rlfogc tig d`stkdp`rtlft hlnt`rs wigf cgtgrdkfkfa lb`nltk`f h r l fgw hlnkbkty. Sig tirgg

bglckfa hlnt`rs wgrg glsg `h pgrdkttkfalfc rgaublt`ry pr`ngcurgs, trlfsp rtl-tk`f kfhrlstrunturg lfc gxkstkfa w`ro-h`rng sokbbs. Sig rlfokfas wgrgpuebksigc kf tig dlalzkfg‛s F`vgdegr kssug.Siks ks lf`tigr kfcknltk`f tilt tigflyslygrs kf Lbleldl, wi` ilvg tigkr `wf lagfcl, ilvgf‛t eggf lebg t`tlrfksi `ur stltg‛s rgputltk`f ls l a``c

pblng h`r euskfgss.^`urng: Ekrdkfaild Fgws

KF SIK^ K^^WG

K. Nlpkt`b @esgrvltk`fs . . . . . . . . . .

KK. Crua Dlfuhlnturgr Hrluc Bktkaltk

KKK. ]`bktknlb @esgrvltk`fs . . . . . . KX. Bgaksbltkvg Ilppgfkfas . . . . . . . .

X. N`urt Qltni . . . . . . . . . . . . . . . . . .

XK. Sig Fltk`flb ^ngfg . . . . . . . . . . . .

XKK. Sig N`rp`rltg Q`rbc . . . . . . . . . .

XKKK. Nldplkaf Hkflfng Ugh`rd . . . . .

KY. N fargssk`flb Wpcltg . . . . . . . . . .

Y. ]r`cunt Bklekbkty Wpcltg . . . . . . .

YK. Dlss S`rts Wpcltg. . . . . . . . . . . . .

YKK. Euskfgss Bktkaltk`f . . . . . . . . . .

YKKK. Kfsurlfng lfc Hkflfng Wpcltg .

YKX. ]rgclt`ry Bgfckfa. . . . . . . . . . . . .

YX. ]rgdksgs Bklekbkty Wpcltg . . . . .

YXK. Q`ropblng Ilzlrcs. . . . . . . . . . . . 5

YXKK. Srlfsp`rtltk`f . . . . . . . . . . . . . . . 5

YXKKK. Lrektrltk`f Wpcltg . . . . . . . . .

YKY. Furskfa I`dg Wpcltg. . . . . . . . . . >

YY. Iglbtinlrg Kssugs . . . . . . . . . . . . . > YYK. Gfvkr`fdgftlb N`fngrfs. . . . . . . .

YYKK. Sig N`fsudgr N`rfgr. . . . . . . . . .

YYKKK. Ugnlbbs Wpcltg . . . . . . . . . . .

YYKX. Hkrd Lntkvktkgs . . . . . . . . . . . .

YYX. ^pgnklb Ugn`afktk`fs. . . . . . . . . .

YYXK. ^`dg Nb`skfa @esgrvltk`fs . . . .

YYXKK.Dy ]lrtkfa Q`rcs . . . . . . . . . . . . .

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LBLELDL X @SGU^ L ]]U@XG LDGFCDGFS @ FG

@f F`vgdegr 3 ti ,Lbleldklfs lppr`vgc Ldgfcdgft @fg,wikni K i pg wls tigrkait tikfa t` c`. Kts plsslag wkbb akvgA`v. Ukbgy luti`rkty t` e`rr`w ls duni ls $857 dkbbk`f hr`d tig Lbleldl SrustHufc. I`wgvgr, tig e`rr`wgc d`fgy

wkbb ilvg t` eg rgplkc. Sig A`vgrf`r slys tiks v`tg wls fggcgc t` elblfngtiks yglr‛s gcunltk`f lfc agfgrlb hufceucagts. Eut, gvgf wkti tig e`rr`wgcd`fgy hr`d Ldgfcdgft @fg, K egbkgvg`tigr rgvgfug dglsurgs wkbb eg fggcgccurkfa fgxt yglr‛s bgaksbltkvg sgssk`f t`oggp a vgrfdgft lhb`lt. Ldgfcdgft@fg lbb`ws stltg `hhknklbs t` e`rr`w d`fgy hr`d l stltg slvkfas lnn`uftnlbbgc tig Lbleldl Srust Hufc lfc ply ktelno kf huturg yglrs. K ilc dkxgc gd`-tk`fs le`ut tiks ldgfcdgft lfc v`tgclalkfst kt.K just c`f‛t bkog tig n`fngpt h e`rr`wkfa hr`d tig trust hufc. I`pg-hubby, K wls wr`fa.Qg sggd kfnbkfgc t`oggp uskfa tig pltniw`ro lppr`lni t`hufckfa stltg sgrvkngs lfc cglbkfa wkti pr`ebgds hlnkfa `ur stltg.Qikbg p`bktk-nlbby kt dly dlog sgfsg t` e`rr`w tiksd`fgy, tiks lppr`lni just puts `hh dlokfa s`dg t`uai hksnlb cgnksk`fs tiltgvgftulbby wkbb ilvg t` eg dlcg.^`urng: Lss`nkltgc ]rgss

LBLELDL @ HHKNKLB^ LFF@WFNG LWSK^D ] U@AULD

Sig bglcgrs `h tig Lbleldl LutksdSlso H`rng, lb`fa wkti Bt.A`vgrf`r JkdH`bs`d Jr. lfc stltg Ugp. Nld Qlrc,rgngftby lff`ufngc lf kfktkltkvg h`r trlkfkfa Lbleldl tglnigrs rgalrckfalutksd lfc `tigr cgvgb`pdgftlb cks-lekbktkgs.Sig lff`ufngdgft wls dlcgkf D`fta`dgry ey Cr. Dlergy Qigt-st`fg `h tig stltg Cgplrtdgft `h Gcunl-tk`f.Sig Ldgrknlf Lutksd ^`nkgty slys`fg `ut `h gvgry <7= nikbcrgf ks ckla-f`sgc wkti lutksd `r lutksd-rgbltgccks`rcgrs.

LBLELDL ] @US N KS[ Q KF^ $<.8 E KBBK@F ^ IK] N @FSULNS

^gflt`r Uknilrc ^igbey dlcg lfkdp`rtlft lff`ufngdgft blst d`fti tilt wls vgry a``c fgws h`r `ur stltg.Sig Flvy lwlrcgc Lustlb W^L l $<.8

ekbbk`f n`ftrlnt t` eukbc tgf ikai-spggcdkbktlry trlfsp`rt sikps kf D`ekbg.Sig

w`ro wkbb eg l e``f t` Lustlb‛s sikp- ylrc `f tig D`ekbg Ukvgr, wikni ilsle`ut <,=== gdpb`yggs.Sig n`dplfy

wls n`dpgtkfa wkti tw` `tigr sikp-eukbcgrs h`r tig j`e lfc Lbleldl wlstig wkffgr. ^gflt`r ^igbey slkc kf lfgws rgbglsg:

K ld pbglsgc tilt tig Flvy n`ftkf- ugs t` rgn`afkzg Lustlb‛s trgdgf- c`us sikpeukbckfa nlplekbktkgs.Sikslwlrc gfilfngs s`uti Lbleldl‛scghgfsg n`ddufkty lfc n`dpbg- dgfts `ur stltg‛s sgrvkng t` `ur lrdgc h`rngs.

Lustlb Btc.ks lf Lustrlbklf-elsgc sikpdlogr spgnklbkzkfa kf ikai-spggc hgrrkgslfc trlfsp`rt vgssgbs. Kt `pgfgc kts W.^.hlnkbkty kf D`ekbg kf <;;;.Sig Flvy‛snurrgft lnquksktk`f pblf nlbbs h`r eukbc-

kfa tgf vgssgbs egtwggf hksnlb yglrs5=<= lfc 5=<7. Sig trlfsp`rt sikp kscgskafgc t` quknoby d`vg tr``ps lfcnlra`. Kt wkbb kfnbucg l hbkait cgno h`r igbkn`ptgrs lfc l rldp lbb`wkfa vgik-nbgs t` crkvg quknoby `hh tig sikp.^`urng: Lss`nkltgc ]rgss

^ SLSG E LU U G\WG^S^ LSS@UFG[ A GFGULBS @ K FXG^SKALSG K BBGALB N @FCWNS

Sig Lbleldl ^tltg Elr ils rgqugstgc

Ltt`rfgy Agfgrlb Sr`y Okfa t` kfvgstk-altg tig n`fcunt h tikrc plrtkgs kf tigrgngft ^uprgdg N`urt gbgntk`f. Ktlppglrs tigrg wgrg fudgr`us n`d-pblkfts hr`d v`tgrs lfc dgdegrs `h tigstltg elr tilt pr`dptgc ]rgskcgft Dlro

Qiktg `h Ekrdkfaild t` n`ftlnt tig Ltt`rfgy Agfgrlb. Sig hlbsg kcgftkhknl-tk`f `h tig ^tltg Elr ls l ‒rltkfa lagfny—h`r jucknklb nlfckcltgs wls usgc ey `fg`h tig nldplkafs lfc tikrc-plrty ar`ups lfc cghkfktgby ilc lf ghhgnt ftig `utn`dg `h tiks rlng.

Sig Ltt`rfgy Agfgrlb ils tig s`bgluti`rkty t` pr`sgnutg vk`bltk`fs `h tigHlkr Nldplkaf ]rlntkngs Lnt. Sig Elr

Lss`nkltk`f prgskcgft lsogc tig Ltt`r-fgy Agfgrlb t` kfvgstkaltg wigtigr suni tikrc-plrty kftgrgsts ilvg vk`bltgctig blws h tig ^tltg h Lbleldl, kfnbuc-kfa tig Hlkr Nldplkaf ]rlntkngs Lnt.Si`sg ruffkfa tig hlbsg lcs lfcdlokfa tig hlbsg nlbbs wgrg dlcg lwlrg`h tig hlbskty `h tilt kfh`rdltk`f.Fgvgr-

tigbgss, plkc lcvgrtkskfa n`ftkfugc t`eg ruf rkait up t lfc kfnbuckfa Gbgn-tk`f Cly.

Sig ^tltg Elr ils eggf w`rokfa t`gbkdkfltg jucknklb nldplkaf lntkvktkgstilt ufcgrdkfg puebkn trust lfc n`fhk-cgfng kf tig jucknklry.Gvgrye`cy‛s a lbsi`ubc eg l hlkr, kdplrtklb lfc kfcg-pgfcgft jucknklry. Curkfa tig blst tw`

^uprgdg N`urt rlngs kf Lbleldl, tig^tltg Elr Lss`nkltk`f t``o l str`fastlfc lalkfst fgaltkvg lttlno lcs.Wfh`r-tufltgby, tilt ghh`rt ilc f` rglb ghhgnt lsgvkcgfngc ey tiks yglr‛s ^uprgdgN`urt rlng. Kt wkbb eg kftgrgstkfa t` sgg

wilt tig Ltt`rfgy Agfgrlb c`gs wkti tig Elr‛s rgqugst.^`urng: Lss`nkltgc ]rgss

KK.CUWADLFWHLNSWUGUHULWC BKSKALSK@F

S IG H GCGULB A @XGUFDGFS D W^S E G ^ S@]]GC H U@D S LOKFA C UWA LQLUC^

Sig ^tltg `h Lbleldl ils hkbgc lblwsukt t` prgvgft tig hgcgrlb a`vgrf-dgft hr`d tlokfa ilbh `h tig $595dkbbk`f tig stltg ils eggf lwlrcgc kfcldlags kf tig Dgcknlkc hrluc blw-sukts. Sig pilrdlngutknlb n`dplfkgsnigltgc tig stltg ey `vgrprknkfa Dgc-knlkc cruas lfc tig stltg hkbgc sukt.

Ltt`rfgy Agfgrlb Sr`y Okfa slkc lt lfgws n`fhgrgfng tilt stltg Dgcknlkc`hhknklbs ilc rgngkvgc l bgttgr hr`dtigkr hgcgrlb n`uftgrplrts lsokfa tigstltg t` kddgckltgby ply tig hgcgrlba`vgrfdgft $<3= dkbbk`f hr`d tig jury lwlrcs lfc sgttbgdgfts kf tig nlsgs.Sig Ltt`rfgy Agfgrlb hkbgc tig blwsuktkf hgcgrlb n`urt kf D`fta`dgry kf lflttgdpt t` st`p tig hgcgrlb a`vgrf-dgft hr`d n`bbgntkfa tig d`fgy ey nuttkfa kts plydgfts t` tig stltg Dgc-knlkc pr`arld.Nuttkfa tig hgcgrlb lbb`t-dgft w`ubc dglf Lbleldl‛s nlsi-strlppgc pr`arld w`ubc ilvg t` nutdgcknlb sgrvkngs t` nikbcrgf, b`w-kfn`dg Lbleldl rgskcgfts lfc tiggbcgrby.Sig hgcgrlb a`vgrfdgft ks hblt

wr`fa lfc ils f` rkait t` tig hufcs.H`r tig blst twgfty yglrs, stltgs tilt

lcdkfkstgr Dgcknlkc pr`arlds ilvg

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eggf n`dpgbbgc t` h`bb`w rgkdeursg-dgft h`rdubls tilt gxkst wktikf aukcg-bkfgs gstlebksigc ey tig Ngftgrs h`r Dgcknlrg lfc Dgcknlkc ^grvkngs (ND^).Sig stltgs ilvg blnogc tig kfh`rdltk`flfc tig hbgxkekbkty t` lcgqultgby luckt`r n`ftr b ti`sg gxpgfckturgs. Ls lrgsubt, ti`sg systgds ilvg eggf leusgclfc dlfkpubltgc ey tig crua n`dpl-

fkgs lt l n`st t` tig stltgs‛pr`arlds `h iufcrgcs `h dkbbk`fs `h c`bblrs.Egnlusg `h tig hkcunklry cuty `wgc

t` ti`sg wi` cgpgfc up`f Dgcknlkclfc kts snlrng rgs`urngs h`r tigkr dgck-nkfgs lfc trgltdgfts tig Ltt`rfgy Agfgrlb lntgc t` st`p ND^ hr`d tlokfa

Lbleldl‛s d`fgy.Lbleldl n`ddgfngcbktkaltk`f lalkfst 1; pilrdlngutknlbn`dplfkgs h`r stglbkfa tigsg hufcstir`uai tig systgdkn leusg jurkgs ilvgsggf ufn`vgrgc kf tig trklbs tius hlr.ND^ ks trykfa t` tlog tig hufcs hr`d

tig vgry fggckgst lfc d`st vubfgrlebg`h lbb `ur nktkzgfs–`ur p``r, `ur cks-lebgc,`ur nikbcrgf, lfc ur gbcgrby.

Sig lttgdpt ey ND^ t tlog tigstltg‛s d`fgy hbkgs kf tig hlng `h tigWfktgc ^tltgs N`fstktutk`f lfc wgbb-gstlebksigc hgcgrlb blw. Sig Ltt`rfgy Agfgrlb nlbbgc `f ]rgskcgft Eusi t`put lf kddgckltg st`p t` tiks kbbgalbp`wgr arle ey tig Hgcgrlb A`vgrf-dgft. Ig lbs` lsogc h`r tig lsskstlfng`h `ur tw` W. . ^gflt rs, Uknilrc^igbey lfc Jghh ^gssk`fs, lfc lbb `h `ur

N`fargssk`flb cgbgaltk`f, ls wgbb lsA`vgrf`r E`e Ukbgy, kf tig elttbg t`pr`tgnt Lbleldl tlxplygrs. Siks ks lelttbg tilt lhhgnts gvgry Lbleldklf lfc`fg tilt dust eg w`f.^`urng: Lss`nkltgc ]rgss

O LF^L^ ^ WG^ <> C UWA D LOGU^ @ XGU D GCKNLKC H ULWC

Ltt`rfgy Agfgrlb ^tgvg ^kx ils hkbgcsukt lalkfst <> crua dlogrs `f egilbh

`h tig ^tltg `h Olfsls, lbbgakfa tigy ufblwhubby kfhbltgc crua n`sts plkc ey tlxplygrs tir`uai tig stltg‛s Dgckn-lkc pr`arld.Sig crua dlogrs cgbkegr-ltgby dksrgp`rtgc prknkfa kfh`rdltk`fkf `rcgr t` kfnrglsg rgkdeursgdgfthr`d tig stltg.Sig snigdg wls kcgf-tknlb t` wilt tig n`dplfkgs ilvgc`fg kf Lbleldl lfc `tigr stltgs.

Ltt`rfgy Agfgrlb ^kx ilc tiks t` sly le`ut tig blwsukt:

Qg egbkgvg Olfsls ils b`st dkb- bk`fs `h c`bblrs ls l rgsubt `h tigsgcrua n`dplfkgs‛hrlucubgft prknkfa

snigdgs. Qg lbbgag tilt tig crua dlfuhlnturgrs cgbkegrltgby kfhbltgc tig rgp`rtgc lvgrlag wi`bgslbg

prkngs lfc `tigr wi`bgslbg prkngs h`r tigkr cruas kf `rcgr t kfnrglsgdlrogt silrg h`r tigkr pr`cunts.Siks ks l cksturekfa leusg `h tig

Dgcknlkc rgkdeursgdgft systgd. Egnlusg `h tig crua n`dplfkgs‛ kflnnurltg prknkfa, tig Olfsls‛

Dgcknlkc pr`arld ils spgft dkb- bk`fs `h c`bblrs d`rg h`r prgsnrkp- tk`f cruas tilf kt si`ubc ilvg.Sig n`dplfkgs‛ hlbsg prkng rgp`rt- kfa ks lbb tig d`rg `hhgfskvgegnlusg kt ufcgrnuts Dgcknlkc,tig puebknby-hufcgc iglbti pr`arldnrgltgc t` lsskst `ur stltg‛s d`st vubfgrlebg nktkzgfs.

Sig dgckl kf Olfsls bkog tig kcgl `h lf Ltt`rfgy Agfgrlb stlfckfa up h`r tigpg`pbg `h iks stltg. Sig h`bb`wkfa kstypknlb `h wilt ks egkfa slkc kf Olfslsle`ut tiks blwsukt lfc le`ut tig Ltt`r-fgy Agfgrlb wi` hkbgc kt:

Kt‛s gfn`urlakfa t` of`w tilt tig Ltt`rfgy Agfgrlb‛s `hhkng ks oggpkfa lf gyg `ut h`r tig stltg‛s egst kftgr- gsts, wikni kf turf egfghkts tlxply- grs. Kt‛s l cuty `h tig Ltt rfgyAgfgrlb‛s `hhkng tilt ils eggf

pblngc f tig elno eurfgr tig plst sgvgrlb yglrs.Lfc Olfslfs si`ubc tlog s`dg sdlbb dglsurg `h sltks-

hlntk`f kf of wkfa tilt wg hkflbbyilvg lf Ltt`rfgy Agfgrlb wi` ksoggpkfa lf gyg `ut h`r Olfsls tlx-

plygrs.

Sig Olfsls Dgcknlkc pr`arld spgft$<8= dkbbk`f d`rg `f prgsnrkptk`fcruas blst yglr tilf kt si`ubc ilvg.Sigsukt lbbgags tig prkng h`r l crua plkc ey tig stltg, elsgc `f l hrlucubgftby-

rgp`rtgc Lvgrlag Qi`bgslbg ]rkng(LQ]) lfc tigr prkng kfcknlt`rs, eglrsf` rgbltk`fsikp t` tig trug prkng lfcnlf gxnggc <==% t` 5==% `h tig lntulbprkng. @fg gxldpbg nktgc kf tig n`d-pblkft kfv`bvgc Cgy. Sig n`dplfy rgp`rtgc lf LQ] `h $33.<= h`r Kprlt-r`pkud Er`dkcg, ygt tig crua dlogr s`bc tig sldg crua t` rgtlkb pilrdl-nksts h`r $9.>7–l >77% ckhhgrgfng!

Lf`tigr kfv`bvgc A^O wikni rgp`rtgc

lf LQ] `h $<59.53 h`r Z`hrlf, eutnilragc $55.8<- l 37=% ckhhgrgfng. K,lb`fa wkti Cgg Dkbgs, lfc Nbkft Nlrtgr hr`d `ur hkrd, lfc tig blw hkrd `h Elr-tkdus, Hrknobgt`f, U`egrts`f & A`ry,].N. `h Olfsls Nkty, rgprgsgft tig Ltt`r-fgy Agfgrlb lfc tig ^tltg `h Olfsls kftiks blwsukt.

C UWA N @D]LFKG^ ^ GSSBG Q KSI D K^^@WUK K F LF@SIGU D GCKNLKC H ULWC BLQ^WKS

Sirgg pilrdlngutknlb n`dplfkgstilt nigltgc Dkss`urk‛s Dgcknlkcsystgd ilvg larggc t` ply $>< dkbbk`ft` sgttbg tilt stltg‛s Dgcknlkc hrlucblwsukt. Sig sgttbgdgft nldg lt tign`fnbusk`f `h l trklb kf tig nlsg hkbgc ey Dkss`urk.L ^t. B`uks Nkrnukt N`urt jury h`ufc tilt tig n`dplfkgs, Qlrrkno ]ilrdlngutknlb, ^nigrkfa N`rp. lfc^nigrkfa-]b`uai N`rp., hrlucubgftby `vgrnilragc Dgcknlkc h`r prgsnrkptk`fcruas kf Dkss`urk. Sig jury lwlrcgc$1.> dkbbk`f kf n`dpgfslt`ry cldlagskf tig hkrst pilsg `h tig trklb.Jur`rs slkctig ^tltg `h Dkss`urk pr`vgc tigrg wls‒nbglr lfc n`fvkfnkfa gvkcgfng `h `ut-rlag`us n`fcunt—ey tig Cghgfclfts.

Lhtgr tig hkrst pilsg, tig jury ilc t`cgnkcg kh pufktkvg cldlags si`ubc eglwlrcgc.Qikbg tig jury wls `ut kf tigsgn`fc pilsg, tig n`dplfkgs sgttbgc

wkti Ltt`rfgy Agfgrlb Jly Fkx`f, wi`

ey tig wly wls gbgntgc A`vgrf`r `h iksstltg `f F`vgdegr 3 ti .Sig sgttbgdgft wls larggc t` egh`rg tig jury rgturfgct` tig n`urt r``d wkti l pufktkvglwlrc. Sig jur`rs ilc lwlrcgc $<==dkbbk`f kf pufktkvg cldlags lfc ilctigkr vgrcknt rglcy t` eg rgturfgc t`tig trklb jucag. I`wgvgr, tig nlsg ilclbrglcy eggf sgttbgc lfc tig n`dplfkgs

wkbb f`w ply $>< dkbbk`f kddgckltgby wkti`ut lf lppglb. Siks wls l a``crgsubt h`r tig stltg lfc tigrg ks f`w lnbglr trgfc kf tigsg nlsgs. Lbb `h tig

`tigr n`dplfkgs si`ubc f`w n`dg t`tig tlebg lfc sgttbg tig rgdlkfkfa nlsgstilt lrg pgfckfa kf sgvgrlb stltgs,kfnbuckfa Lbleldl.^`urng: ^t. B`uks ]`st Ckspltni

BKBB[ ^ GSSBG^ Z []UGYL N BLKD

Gbk Bkbby lfc N`., tig Kfcklflp`bkscrua dlogr, wkbb sgttbg lf kfvgstkaltk`fey hgcgrlb lfc stltg luti`rktkgs vgr tig

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sgssk`f `h tig Bgaksblturg gfcs fgxt yglr. I`wgvgr, tilt sgssk`f n`ubc gfcs`dg ldektk`fs h`r ikaigr `hhkng.

Qikbg ig ilsf‛t pgrs`flbby akvgflfy kfcknltk f tilt ig wlfts t` ruf, Kstkbb iglr b`ts `h h`bos sly Cr. ClvkcEr`ffgr fggcs t` dlog tig rlng.Sigy lbb egbkgvg tilt tig hkflfnklb wkzlrc

w`ubc dlog l arglt A`vgrf`r lfc K

silrg tilt egbkgh. ^tlf ]ltg–wi`n`ubc ruf ls gktigr l Cgd`nrlt `r Ugpuebknlf–ks d`rg bkogby t` dlogtig rlng. I`wgvgr, ig dly gbgnt tsupp`rt lf`tigr nlfckcltg suni ls Skd

Jldgs lfc egn`dg l p`wgr-er`ogr `h s`rts. Kf lfy gvgft, kt wkbb eg kftgrgst-kfa t` sgg wilt cgvgb`ps curkfa tigfgxt yglr. Sigrg ks fg tikfa h`r ngrtlkf–tigrg ks l arglt cglb `h kftgr-gst lr`ufc tig stltg kf wi` wkbb h`bb`w E`e Ukbgy kf tig A`vgrf`r‛s `hhkng.

^ ]GNWBLSK@F N @FNGUFKFA A @XGUF@U U KBG[ ‛ H WSWUG ] BLF^

Sigrg lrg lbb okfcs `h rud`rs hb`ltkfalr`ufc n`fngrfkfa tig p`bktknlb huturg`h A`vgrf`r E`e Ukbgy. Gvgf iks cgtrln-t`rs ilvg t` lcdkt tilt tig Nbly N`ufty fltkvg ks vgry p`publr lr`ufc tig stltglfc d`st `h tigd wkbb tgbb y`u prkvltgby tilt ig ils c`fg lf `utstlfckfa j`e lsA`vgrf`r. Eut f`e`cy rglbby sggds t`of`w wilt iks huturg p`bktknlb pblfs

lrg. ]grs`flbby, K c`f‛t egbkgvg ig w`ubcnilbbgfag ^gflt r Uknilrc ^igbey, wikni ks `fg `h tig d`st cksnussgcrud rs. Hkrst, tigy lrg vgry a``chrkgfcs lfc d`rg kdp`rtlftby, f`e`cy n`ubc eglt ^igbey kf Lbleldl.

Lf`tigr rud`r ks tilt tig A`vgrf`r w`ubc tlog `vgr ls Nilfngbb`r `h SigSr`y Wfkvgrskty ^ystgd lhtgr elnokfaiks hrkgfc Cr. Jlno Ilwokfs Jr. h`r A`v-grf`r kf 5=<=. Kt‛s dy `pkfk`f tilt tiksks just lf`tigr A`lt Ikbb rud`r. Kf lfy gvgft, K augss wg wkbb just ilvg t` wlkt

h`r l wikbg t` sgg kh A`vgrf`r Ukbgy nlfhkfc s`dgtikfa t` ruf h`r. K rglbby nlf‛tsgg ikd rgtkrkfa hr`d puebkn bkhg lfca`kfa elno t` Nbly N`ufty.

U KNILUC ^ IGBE[ K ^ A @@C H @U LBLELDL

K ilvg of`wf Uknilrc ^igbey h`r yglrs, lfc wikbg wg lrg kf ckhhgrgftp`bktknlb plrtkgs, wg ilvg rgdlkfgcnb`sg hrkgfcs.Sig ^gflt`r ils eggf l

trgdgfc`us puebkn sgrvlft lfc ilsc`fg d`rg h`r Lbleldl tilf lfy `hhkngi`bcgr kf dy dgd`ry. Ig wkbb cghkfktgby sggo lf`tigr tgrd kf 5=<= lfc kf dy `pkfk`f wkbb eg rggbgntgc wkti bkttbg ckh-hknubty. Kt w`ubc eg fgxt t` kdp`sskebgh`r lfy pgrs`f t` ruf l str`fa rlng kf

Lbleldl lalkfst tiks dlf. Kdp`rtlftby,^gflt`r ^igbey ils tig lekbkty t` nr`ss

tig lksbg kf tig W.^. ^gfltg lfc w`ro wkti Cgd`nrlts. Kf tig plst, tilt ilspr`vgc t` eg vgry a``c h`r Lbleldllfc kt wkbb eg a``c h`r Lbleldl nktkzgfscurkfa tig fgxt h`ur yglrs. Kt‛s dy egbkgh tilt tig Susnlb``sl ^gflt`r‛s rgbl-tk`fsikp wkti ^gfltg Cgd`nrlts wkbbsgrvg ikd wgbb curkfa tig @eldl

Lcdkfkstrltk`f.

KX.BGAK^BLSKXGIL]]GFKFA^

^ GXGUG D @FG[ ] U@EBGD^ LQLKS LBLELDLBGAK^BLS@U^

Qigf Lbleldl bgaksblt`rs rgp`rt h`r tig rgaublr sgssk`f fgxt yglr tigy wkbbeg hlnkfa s`dg d`st sgrk`us hkflfnklbpr`ebgds. Ls ils eggf rgp rtgc, tigturd`kb `f Qlbb ^trggt ils nrgltgc ltrgdgfc`us i`bg kf tig `pgrltkfa

eucagt h`r stltg a`vgrfdgft. Kt wlsgstkdltgc t` eg le`ut $<5= dkbbk`f lhgw wggos elno. Ls l rgsubt, tig stltg

wkbb eg hlnkfa spgfckfa nuts bltgr tiks yglr.Sig eucagt i`bg cgvgb`pgc wigf Lbleldl‛s kfvgstdgfts `f Qlbb ^trggtb`st d fgy. A`vgrf`r E`e Ukbgy pblffgc tig stltg‛s $5 ekbbk`f AgfgrlbHufc eucagt kf lftknkpltk`f `h agttkfa$<<1 dkbbk`f kf nlpktlb alkfs hr`d tigkfvgstdgfts, eut tigrg ilvg eggf f`fg.K egbkgvg tig stltg wkbb ilvg t` cglb

wkti tig eucagt-nuttkfa pr ngss of wf

ls ‒pr`rltk`f— egh rg tig hksnlb yglr gfcs. ^`dg egbkgvg tig rgvgfug pr`jgn-tk`fs–ey lfy stlfclrc–wgrg `vgrby `ptkdkstkn.

D`st stltg gdpb`yggs ilvg fgvgr gxpgrkgfngc pr`rltk`f `h tig AgfgrlbHufc eucagt kf tig dkccbg `h l hksnlb

yglr.Sig blst tkdg l A`vgrf`r ilc t`dlog ti`sg nuts t` tig Agfgrlb Hufceucagt wls kf hksnlb <;;> wigf spgfc-kfa wls nut >.5%.Sig ^pgnklb Gcunltk`f

Srust Hufc eucagt wkbb eg kf pr`rltk`fufbgss tig gn`f`dy turfs lr`ufc kf leka iurry lfc f`e`cy egbkgvgs tilt wkbbilppgf.Sig stltg ils lf `ebkaltk`f t`hufc puebkn sni``bs lfc n`bbgags lfc kt

wkbb eg l rglb tgst tiks tkdg t` dggtlbb `h tig fggcs. ^tltg `hhknklbs lrg

wltnikfa tig gcunltk`f eucagt‛s tw`dlkf kfargckgfts–kfn`dg lfc slbgs

tlxgs–t` sgg i`w tilt eucagt wkbbi`bc up curkfa tig gn`f`dkn sb`w-c`wf.Sikfas c`f‛t b``o vgry pr`dks-kfa lt tiks jufnturg.Sig A`vgrf`r lfcbgaksbltkvg bglcgrs wkbb ilvg l ckhhknubtkdg oggpkfa gxkstkfa stltg pr`arlds‛hufckfa lt nurrgft bgvgbs wkti`ut fgw rgvgfugs. Sig gcunltk flb pr`arlds

wkbb hlng skafkhknlft nuts lfc tilt wkbbeg d`st ckhhknubt t cglb wkti. D`st`esgrvgrs sly 5==; w`f‛t eg l a``ctkdg t` eg kf tig Bgaksblturg.^`urng: Lss`nkltgc ]rgss

LBLELDL S LYG^ S IG I KAIG^S LS S IG ] @XGUS[ BKFG

L fgw fltk`flb stucy si`ws Lbleldlbgvkgs d`rg kfn`dg tlx tilf lfy `tigr stltg `f l hldkby `h h`ur bkvkfa lt tighgcgrlb p`vgrty bkfg.L n`upbg wkti tw`nikbcrgf dlokfa $5<,5=> lffulbby kf

Lbleldl plys $35> kf stltg kfn`dg tlx. Lf Lss`nkltgc ]rgss lrtknbg p`kftgc `uttilt kh tig sldg hldkby d`vgc lnr`ss

tig stltg bkfg t` Dkssksskppk, tigy w`ubcply $39.Sig stucy ey tig f`fplrtkslfNgftgr `f Eucagt lfc ]`bkny ]rk`rktkgskf Qlsikfat`f lbs` slys Lbleldl stkbbils `fg `h tig fltk f‛s b`wgst tirgsi-`bcs h`r plykfa kfn`dg tlxgs, cgspktgrlkskfa tig tirgsi`bc skafkhknlftby kf5==1 t` igbp tig w`rokfa p``r.

Sig Lbleldl Nktkzgfs‛ ]`bkny ]r`jgnt,l D`fta`dgry ar`up tilt w`ros `fegilbh `h Lbleldl‛s p``r, slkc tig stucy rlksgs n`fngrfs tilt Lbleldl‛s tlxstrunturg ks sgfckfa tig p``r gvgf

cggpgr kft` p`vgrty. Okdebg H`rrkstgr,tig pr`jgnt‛s gxgnutkvg ckrgnt r, slkc:

Lbleldl ks stkbb rgqukrkfa iuf- crgcs `h c`bblrs l yglr hr`d hldk- bkgs wi` lrg struaabkfa t` oggptigkr iglcs le`vg wltgr.

Sig stucy, elsgc `f 5==1 fudegrs,slys Lbleldl wls `fg `h <9 stltgs tiltbgvkgc lf kfn`dg tlx `f l hldkby `h h`ur dlokfa bgss tilf tig hgcgrlb p`vgrty

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bgvgb. Kf Lbleldl,tig hldkby h h`ur plkc$35>,h`bb`wgc ey $3=; kf Ilwlkk, $>57kf @rga`f lfc $579 kf Qgst Xkrakfkl.Kbbkf`ks, Kfcklfl, K`wl, Dknikalf lfcD`ftlfl lbs` rgqukrgc l hldkby `h h`ur bkvkfa lt tig p`vgrty bkfg t` ply d`rgtilf $5== kf stltg kfn`dg tlx, tigstucy slkc. Lbleldl usgc t` ilvg tigfltk`f‛s b`wgst tirgsi`bc h`r rgqukrkfa

l hldkby `h h`ur t` stlrt plykfa stltgkfn`dg tlxgs. Eut kf 5==8, tig A`vgr-f`r lfc Bgaksblturg w`rogc t`agtigr t`rlksg tig tirgsi`bc hr`d $3,8== t`$<5,8==, stlrtkfa wkti tig 5==1 tlx

yglr. Silt cr`ppgc Lbleldl t` tikrc,egikfc Qgst Xkrakfkl lfc D`ftlfl.

Lbleldl wls `fg `h <> stltgs tiltt``o stgps kf 5==1 t` rgcung kts tlxgs`f tig p``r. ‒]r`argss ks `nnurrkfasb`wby, eut stltgs kfnrglskfaby rglbkzgtilt tlxkfa pg`pbg cggpgr kft` p`vgrty ks n`uftgr-pr`cuntkvg,— lnn`rckfa t`

stucy n`-luti`r Jls`f Bgvktks. Kf tigrgaublr sgssk`f tiks yglr, tig LbleldlBgaksblturg hgbb `fg v`tg siy `h plsskfad`rg tlx nuts h`r b`w-kfn`dg nktkzgfslfc rgd`vkfa tig stltg slbgs tlx `f ar`-ngrkgs.Sig pr`p`slb plssgc tig I`usg,eut hlkbgc kf tig ^gfltg. Dlfy Cgd`n-rlts wlftgc t` rgpblng tig b`st kfn`dgtlx rgvgfug ey gbkdkfltkfa Lbleldl‛skfn`dg tlx cgcuntk`f h`r hgcgrlbkfn`dg tlxgs plkc.Silt cgcuntk`f prk-dlrkby egfghkts ikaigr kfn`dg tlxply-grs.Sig sp`fs`r `h tig tlx pblf, Ugp.

J`if Ofkait, C-D`fta`dgry, wi` pblfs`f trykfa lalkf wigf tig Bgaksblturgrgturfs kf Hgerulry,ilc tiks t` sly:

Kt ks just d`rlbby wr`fa t` ilvgelsknlbby tig b`wgst kfn`dg tlx tirgsi`bc lfc tig ikaigst tlx `f

p``r pg`pbg kf tig fltk`f.

K t`tlbby largg wkti ti`sg lt Lbleldl Lrksg lfc wkti Ugp. Ofkait `f tigkr lssgssdgft `h `ur nurrgft tlx strun-turg.K egbkgvg str`faby tilt kt‛s tkdg h`r

Lbleldl t` nilfag tig wly wg tlxh`bos. Sig A`vgrf`r lfc tig Bgaksbl-turg si ubc dlog tlx rgh rd l t`p prk-`rkty kf 5==;. I`pghubby, tilt wkbbilppgf. Kh y`u largg, bgt A`v. Ukbgy, Bt.A`v. H`bs`d lfc y`ur bgaksblt`rs of`w i`w y`u hggb.^`urng: Lss`nkltgc ]rgss

X.N@WUS QLSNI

E W^I LCDKFK^SULSK@F ‛ ] UGGD]SK@F N BLKD^ E BL^SGC K F U G]@US

Hgcgrlb prggdptk`f ks hkflbby si`wkfa up `f tig rlclr snrggf `h

Cgd`nrlt blwdlogrs kf `ur Fltk`f‛sNlpkt`b.L rgngft rgp`rt kssugc ey tigI`usg @vgrskait lfc A`vgrfdgftUgh`rd N`ddkttgg ks pr``h p`sktkvgtilt tig Eusi Lcdkfkstrltk`f ils pubbgc`ut lbb st`ps t` sikgbc crua n`dplfkgshr`d bklekbkty h`r clfagr`us cruas wikbgbglvkfa pltkgfts `ut kf tig n`bc. Sigrgp`rt, elsgc `f c`nudgfts `etlkfgchr`d tig H``c lfc Crua Lcdkfkstrl-tk`f, n`fnbucgs tilt tig lagfny‛s ghh`rtst` pr`tgnt crua n`dplfkgs cgblygc tigckssgdkfltk`f `h kdp`rtlft slhgty kfh`r-

dltk`f t` tig puebkn.Sig c`nudgftsrgvglb tilt t`p HCL `hhknklbs wi` cglb

wkti crua slhgty `f l cly-t`-cly elsksc`f‛t egbkgvg tilt blwsukts ufcgrdkfgn`fsudgr slhgty. Eut tigkr vkgws wgrg`vgrrkccgf ey ]rgskcgft Eusi‛s p`bktk-nlb lpp`kftggs,wi` blnogc lfy gdpkrk-nlb supp`rt h`r tigkr vkgws.

Sig Eusi Lcdkfkstrltk`f ils eggf vgry ufhrkgfcby t` n`fsudgrs `vgr tigblst gkait yglrs lfc wkbb a` c`wf lsilvkfa ilc tig w`rst n`fsudgr rgn`rckf ikst`ry. Kt‛s elc gf`uai tilt p`bktknsn`fskstgftby trudps snkgfng wkti tiks

Lcdkfkstrltk`f, eut tigrg ks f`w nbglr c`nudgftltk`f `h i`w tig QiktgI`usg ikjlnogc tig HCL lfc h`rngc tiglagfny t` ufcgrdkfg kts `wf dkssk`f,

wikni ks t` pr tgnt Ldgrknlf nktkzgfs.Sig Eusi Lcdkfkstrltk`f lraugc

egh rg tig W.^. ^uprgdg N`urt blstd`fti wigf tig Justkngs iglrc tiglppglb kf tig Qygti v. Bgvkfg nlsg tiltnkvkb sukts lrkskfa hr`d cghgntkvg lfcdksblegbgc prgsnrkptk`f cruas lrg prg-gdptgc ey lppr`vlb ey tig HCL `h tigcrua‛s blegb.Sig rgp`rt nbglrby si`wstilt tig Eusi Lcdkfkstrltk`f‛s pr`-prg-gdptk`f p`sktk`f kf tig Qygti nlsg ksd`tkvltgc ey p`bktkns lfc f`t gxpgrtksgkf crua rgaubltk`f. S`p-rlfokfa HCL nlrggr `hhknklbs wkti cggp gxpgrtksg kfcrua slhgty slkc tilt tig Eusi Lcdkfks-trltk`f‛s ghh`rts t` ldgfc crua blegbkfargaubltk`fs t` prggdpt stltg bklekbkty blwsukts wgrg cggpby hblwgc. Sig

Lcdkfkstrltk`f‛s justkhknltk`fs h`r tig

rgaubltk`fs wgrg ‒hlbsg lfc dksbglckfa,—lnn`rckfa t` tigsg `hhknklbs.

Ls wg ilvg rgp`rtgc kf prgvk`uskssugs, tig Eusi Lcdkfkstrltk`f ils f`tbkdktgc kts prggdptk`f pusi t` prg-snrkptk`f cruas. Sig prggdptk`fnblusgs lrg egkfa kfsgrtgc kf l wkcglrrly `h rgaubltk`fs.Sig Qiktg I`usgtlogs tig p`sktk`f tilt vkntkds lrg f`t

gftktbgc t` lfytikfa–f` dlttgr i`w fgabkagft `r krrgsp`fskebg l n`dplfy wls kf cgskafkfa, tgstkfa, blegbkfa `r dlrogtkfa kts pr`cunts–lfc tilt‛sd`rlbby lfc bgalbby wr`fa.Siks ghh`rtt` prgvgft kfjurgc nktkzgfs hr`d ilvkfalnngss t` tig n`urts lfc i`bckfa fgabk-agft n`dplfkgs lnn`uftlebg dust egcghgltgc. Kh tig n`urts c`f‛t h`bb`w tig blw lfc c` tig rkait tikfa, kt wkbbeg up t` N`fargss t` pr`tgnt tig Ldgr-knlf pg`pbg.^`urng: ]uebkn Nktkzgf

D @UG @ F ] UGGD]SK@F H U@D S IG D GCKNLBN @DDWFKS[

Kt ks ufkvgrslbby rgn`afkzgc tilt tigdgcknlb n`ddufkty kf tig Wfktgc^tltgs ils lf `ebkaltk`f t` b``o `ut h`r tig egst kftgrgsts `h tig puebkn `figlbti lfc slhgty kssugs.Silt `ebkaltk`fkfnbucgs egkfa n`fngrfgc le`ut lfy-tikfa tilt w`ubc jg`plrckzg tig iglbti lfc slhgty `h tig Ldgrknlf pg`pbg. L

rgngft gckt`rklb ey tig Gckt`r kf Nikgh lfc Gxgnutkvg Cgputy Gckt`r `h tig J`urflb `h tig Ldgrknlf Dgcknlb Lss`- nkltk`f gftktbgc ‒]rgsnrkptk`f Cruas,]r`cunts Bklekbkty, lfc ]rggdptk`f `h S rt Bktkaltk`f— kfcknltgs l rglb n`fngrfkf tig dgcknlb n`ddufkty le`ut tigghhgnts `h hgcgrlb prggdptk`f. Siks ks

wilt tig gckt`rklb wrktgrs `h tiks d`stprgstkak`us puebknltk`f ilc t` sly le`ut prggdptk`f kf bkait `h tig nlsgnurrgftby egh rg tig W. . ^uprgdgN`urt:

Sig Qygti v. Bgvkfg rubkfa wkbb ilvg hlr-rglnikfa lfc pr`h`ufc kdpbknltk`fs h`r pltkgfts lfc crua slhgty. Kh tig N`urt rubgs kf

hlv r `h Qygti, gfc`rskfa prggdp- tk`f, pltkgfts wkbb b`sg lf krrg-

pblnglebg dgti`c h`r sggokfa rgdgckgs h`r kfjurkgs rgsubtkfa

hr`d pilrdlngutknlb lagfts tilt wgrg lppr vgc ey HCL. Ls wktitig dgcknlb cgvkng prggdptk`f

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rubkfa, suni l cgnksk`f w`ubc bkogby rgsubt kf ti`uslfcs `h blwygrs cghgfckfa crua dlfuhln- turgrs t` hkbg d`tk`fs kf stltgn`urts t` cksdkss pblkftkhhs‛ nblkdsufcgr prggdptk`f. Kf l rgngft

pr`cunts bklekbkty blwsukt, l ]ikblcgbpikl jucag rubgc tilt tig hgcgrlb Fltk`f lb Nikbci``c Xlnnkfg Kfjury Lnt prggdpts t`rt nblkds `h cgskaf cghgnts lfc

hlkburg t` wlrf, ghhgntkvgby kddu- fkzkfa vlnnkfg dlfuhlnturgrslalkfst bklekbkty nblkds.Ls si`wfkf tig stucy ey Akgzgf gt lb.,dlfy slhgty pr`ebgds lrg kcgftk-

hkgc `fby lhtgr crua lppr`vlb.Sigiudlf e`cy ks kf l n`fstlft

stltg `h ni lfag lfc tig ghhgnts `h s`dg cruas wkbb dlfkhgst `fbylhtgr gxp`surg vgr tkdg. Hurtigr- d`rg, s`dg sgrk`us lcvgrsg crua

ghhgnts lrg quktg ufn`dd`f lfc rgqukrg usg `h tig crua kf blragfudegrs `h pltkgfts t` egn`dggvkcgft. Sig slhgty `h cruas kf lnbkfknlb trklb, tig stucy typg usgc

h`r HCL lppr`vlb, ks elsgc `f spg- nkhkn plrtknkplft typgs, fudegrs,lfc cgskaf tilt nlff`t gfsurgtig trug slhgty `h l crua. Kf lcck- tk`f, dlfkpubltk`f `h stucyrgsubts ey tig crua dlfuhlnturgrs(wi` lbd`st lbwlys sp`fs`r

stuckgs usgc h`r cgnksk`fs le`ut

crua lppr`vlb) nlf `esnurg tigtrug slhgty pr`hkbg `h l crua.

Kh tig N`urt rubgs h`r prggdptk`fkf Qygti v Bgvkfg, N`fargssk`flb lntk`f wkbb eg fgngsslry t`rgd`vg prggdptk`f `h stltg t`rt bktkaltk`f kfv`bvkfa nblkds `h

pr`cunts bklekbkty h`r prgsnrkptk`fcruas. @tigrwksg, tig nurrgft

systgd `h HCL lppr`vlb `h cruasw`ubc ilvg t` eg nilfagc t` prg-

sgrvg tig iglbti `h tig puebkn.Wfcgr tiks lbtgrfltkvg lppr`lni,f` crua n`ubc eg hubby lppr vgc uftkb b`fa-tgrd stuckgs wkti blragfudegrs h plrtknkplfts ilc eggfn`dpbgtgc lfc dlrogtkfa w`ubc ilvg t` eg argltby bkdktgc uftkb

hubb HCL lppr`vlb ks lnikgvgc.^urgby, tig crua dlfuhlnturgrsw`ubc f`t eg pbglsgc wkti suni l

systgd? i`wgvgr, wkti`ut suni slhgaulrcs, pltkgft slhgty w`ubc eg jg`plrckzgc. Gktigr wly, N`f-

argss, f`t tig ^uprgdg N`urt, sggds egttgr suktgc t` cgnkcg puebkn p`bkny `f pltkgft slhgty,lfc kt ks tgbbkfa tilt dlfydgdegrs `h N`fargss ilvg j`kfgc ldknk erkghs t` rgdkfc tig N`urt tilt N`fargss lbrglcy ils cgnkcgc f`t t` arlft prggdptk`f t` crua dlfuhlnturgrs.

@fg `h tig d`st kdp`rtlft wlyst` gfsurg tig iglbti `h tig fltk`fks t` eg ngrtlkf tilt dgcknlb cgvkngs lfc pilrdlngutknlb lagftslrg slhg.Sig HCL ks f`t kfhlbbkebglfc tig rgngftby kfnrglsgc rgs`urngsc` f`t kfnbucg l nrystlb elbb.Sigrg-

h`rg, ufbgss lfc uftkb tig HCLcrua lppr`vlb pr`ngss lfc tig

p`stdlrogtkfa survgkbblfng systgdkdpr`vg skafkhknlftby, pltkgfts dust ilvg l dglfs t` sggo rgn`ursgtir uai t`rt bktkaltk`f lalkfst

pr`cunt dlfuhlnturgrs. Lfytikfa bgss dly wgbb prggdpt tig wgbb- egkfa lfc slhgty h tig puebkn.

K ilvg t` w`fcgr kh ti sg kf tig Eusi Lcdkfkstrltk`f wi` lrg pusikfa prg-gdptk`f s` ilrc ilvg rglc tiks gckt`-rklb. ^lcby, K sgrk`usby c`uet kt. Gvgf kh tigy ckc, wkti Ckno Nigfgy lfc OlrbU`vg nlbbkfa tig si`ts `f prggdptk`f,kt w`ubc c` f` a``c.^`urng: J`urflb `h tig Ldgrknlf Dgcknlb Lss`nkltk`f

S IG HCL C @NWDGFS^ H LKBS @ ^ W]]@US H GCGULB ] UGGD]SK@F

Sig W.^. ^uprgdg N`urt iglrc `rlblraudgft kf tig Qygti vs. Bgvkfg nlsg`f F`vgdegr > rc lfc wkbb eg dlokfa lcgnksk`f ey Lprkb `h 5==; lnn`rckfa t`n`urt wltnigrs.Sigrg ilvg eggf s`dgkftgrgstkfa cgvgb`pdgfts tilt si`ubcilvg l eglrkfa `f wilt tig N`urt c`gskf tiks kdp rtlft nlsg. C`nudgftsrgbglsgc kf bltg @nt`egr ey tig HCL kf l

N`fargssk`flb kfvgstkaltk`f rgvglb tiltnlrggr `hhknklbs lt tig lagfny c`f‛tegbkgvg tig HCL‛s lppr`vlb `h crua blegb-kfa si`ubc eb`no n`fsudgr blwsukts.

Sig Qlbb ^trggt J`urflb rgp`rtgctilt kftgrflb dgd`s n`ftrlcknt tigHCL‛s nurrgft p`sktk`f ls stltgc kf tigQygti nlsg.Sig HCL slkc–kf kts erkghst` tig ^uprgdg N`urt kf n`ftrlckntk`ft` kts prk`r p`sktk`f–tilt hgcgrlb crualppr`vlb lfc wlrfkfa blegb stlfclrcs

pr`ikekt stltg blws. I`wgvgr, tw` HCL `hhknklbs slkc kf tig dgd`rlfcl tilt

wgrg ufn`vgrgc tilt kt‛s wr`fa t`lssudg tilt HCL-lppr`vgc crua blegbslrg lcgqultg `r tilt tigy hubby cksnb`sgtig slhgty rksos `h tig cruas.@fg `h tigdgd`s, wrkttgf kf 5==> ey Cr. J`if

Jgfokfs, tig t`p `hhknklb kf tig crualppr`vlb sgntk`f, stltgs:

Duni `h tig lraudgft h`r wiy wglrg pr`p`skfa t kfv`og prg-gdptk`f

sggds t` eg elsgc `f l hlbsglssudptk`f tilt tig HCL-lppr`vgc blegbkfa ks hubby lnnurltg lfc up t`cltg kf l rglb tkdg elsks.Qg of`wtilt suni lf lssudptk`f ks hlbsg.

Ls wg prgvk`usby rgp`rtgc, prggdp-tk`f blfaulag kfsgrtgc kft` tig rubgs ey pgrs`fs lt tig HCL wls fgvgr pue-bksigc t` tig puebkn `r lbb`wgc t` egcgeltgc kf puebkn h`ruds ls ks rgqukrgc

ey blw. Wfh`rtufltgby h`r Ldgrknlf nktk-zgfs, tig Eusi Lcdkfkstrltk`f ks f`tbkdktkfa kts prggdptk`f pusi t` tigHCL. Kt ils kfsgrtgc prggdptk`f blf-aulag kf `vgr hkhty hgcgrlb lagfnkgs‛rubgs wkti`ut dlokfa tig prg-gdptk`fblfaulag suejgnt t` puebkn iglrkfas.Siks ks f`tikfa eut l ebltlft plyelno t`p`bktknlb eucckgs ey l bldg cuno

Lcdkfkstrltk`f lfc ks egbkgvgc t` egtig w ro `h Ckno Nigfgy lfc iks alfa.

S`p snkgftksts lfc nlrggr gdpb`yggslt tig H``c lfc Crua Lcdkfkstrltk`f

ilvg kf tig plst n`fskstgftby `pp`sgclagfny rgaubltk`fs tilt w`ubc tloglwly n`fsudgrs‛ lekbkty t` sug cruadlogrs.Ls wg ilvg rgp rtgc, lt kssug ksblfaulag kfnbucgc kf l crua-blegbkfarubg kf 5==8 lt tig rgqugst `h tig Eusi

Qiktg I`usg tilt ghhgntkvgby bkdkts wigf pg`pbg nlf sug kf stltg n`urt`vgr kfjury nblkds kfv`bvkfa dgcknl-tk fs.Sig HCL f`w n`ftgfcs hgcgrlbrgaubltk`fs prgvlkb wigf tigrg ks l n`f-hbknt wkti stltg blw.Siks nilfag kf p`sk-tk`f ks n`ftrlry t` wilt tig HCL ilsn`fskstgftby slkc `vgr tig yglrs.

Kftgrflb lagfny c`nudgfts rgvglbtilt nlrggr `hhknklbs `pp`sgc tikslppr`lni, lnn`rckfa t` l rgp`rtrgbglsgc ey Ugp. Igfry Qlxdlf, nilkr-dlf `h tig I`usg @vgrskait lfc A`v-grfdgft Ugh rd N`ddkttgg. Kf tigplst, tig lagfny ilc vkgwgc prkvltgsukts ls lf lccktk`flb blygr `h pr`tgn-tk`f lalkfst ufslhg cruas, tig rgp`rtslkc. ]ltkgfts kfjurgc ey cruas ilvg

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w`f sukts lalkfst crua dlfuhlnturgrsh`r hlkbkfa t` wlrf lalkfst ngrtlkfclfagrs. K ilvg arglt ckhhknubty ufcgr-stlfckfa i`w lfy Justkng `f tig Ikai N`urt w`ubc ilvg lfy pr`ebgd rgjgnt-kfa Qygti‛s lraudgft kf tiks nlsg.

Qygti‛s nblkd tilt kt wls pr`tgntgchr`d blwsukts kf stltg n`urt ks wkti`utlfy bgalb elsks.

]uebkn Nktkzgf, tig str`fagst n`f-sudgr lcv`nlny ar`up lr`ufc t`cly,n`rrgntby slys tig Eusi Lcdkfkstrltk`fks pusikfa prggdptk`f nblusgs kf l

wkcg lrrly `h rgaubltk`fs. Erklf Q`bhdlf, ckrgnt`r `h ]uebkn Nktkzgf‛sbktkaltk`f ar`up, slys:‒Siks ghh`rt t`prgvgft kfjurgc nktkzgfs hr`d uskfatig n`urts lfc i`bckfa fgabkagft n`d-plfkgs lnn`uftlebg dust eg st`ppgc.—

Sig rgp`rt slkc tig HCL ils ygt t`pr`vkcg l n`dpbgtg sgt `h c`nudgftstilt w`ubc si`w n`ddufknltk`fs

egtwggf tig Qiktg I`usg lfc tiglagfny, eut s`dg c`nudgfts suaagstgctig lagfny lfc tig Qiktg I`usg

w`ubc f`t a` h`rwlrc wkti l rubg `fblegbkfa uftkb tig prggdptk`f nilfags

wgrg kfnbucgc.^`urng: Qlbb ^trggt J`urflb lfc ]uebkn Nktkzgf

FIS^L‛ ^ ^ GLS E GBS U WBG K ^ E LC F GQ^ H @U N @F^WDGU^

Ls K stltgc le`vg, kt‛s f`t just tig

HCL tilt tig Eusi alfa ks uskfa t`sfglo hgcgrlb prggdptk`f kft` tigsystgd. F`w, tig Fltk`flb Ikaiwly Srlhhkn ^lhgty Lcdkfkstrltk`f ilskfsgrtgc l prggdptk`f pr`vksk`f kft`tig fgw rubg a`vgrfkfa sglt egbtslhgty. Sig hkflb rubg, kssugc `f@nt`egr ; ti , n`ftlkfs blfaulag tilt

wkbb prggdpt stltg rgaubltk`f `h sgltegbt p`sktk`fkfa, kfnbuckfa stltg-elsgct`rt nblkds lrkskfa hr`d kfjurkgsrgbltgc t` sglt egbt pblngdgft. Siglntk`f ey FIS^L ks elc fgws h`r n`f-

sudgrs. Kf blydlf‛s blfaulag tiksskdpby dglfs stltg blws wkbb egelffgc rgalrcbgss `h i`w elc tign`fcunt `h l dlfuhlnturgr ilppgfs t`eg.Sig rubg, of`wf ls tig ‒cgskafltgcsgltkfa p`sktk`f— rubg, sgts tig stlf-clrc h`r tig lppr`prkltg fudegr `h sglt egbts rgqukrgc kf vgiknbgs. FIS^L nblkds kts lntk`f ks cgskafgc t` pr`vkcgtig `ptkdud bgvgb `h nrlsi pr`tgntk`f.

L prgldebg t` tig rgvksgc rubg lbs`

n`ftlkfs blfaulag elrrkfa stltg blw nblkds rgbltgc t` sglt egbt p`sktk`fs. Kh tiks ks upigbc kf tig hgcgrlb n`urts, tigblfaulag wkbb prgvgft n`fsudgrs wi`

wgrg kfjurgc kf lnnkcgfts hr`d sggokfargcrgss kh tigy wgrg uflebg t` wglr lsgltegbt egnlusg `h blno `h suhhknkgftfudegr `h egbts `r l egbt‛s b`nltk`f kftig vgiknbg. FIS^L ils eggf bkttbg

d`rg tilf lf gxtgfsk`f `h tig lut`d`-ekbg dlfuhlnturkfa kfcustry h`r yglrslfc kts rgngft lntk`f ks just lf`tigr gxldpbg `h i`w tig lagfny ils‒silhtgc—n`fsudgrs.

N`fsudgrs ilvg l elskn rkait t` i`bc vgiknbg dlfuhlnturgrs lnn`uftlebg wigf tigy ilvg dlcg l cghgntkvgpr`cunt. Wfh`rtufltgby, tig rgaublt`ry lagfny puts dlfuhlnturgr n`sts lfcpr`hkts liglc `h n`fsudgr pr`tgntk`fs.Kf tiks nlsg, FIS^L‛s sgltegbt rubgtlogs lwly tig elskn n`fstktutk`flb

rkait `h l n`fsudgr t` ilvg lnngss t`tig nkvkb justkng systgd. Kf kts n`d-dgfts t` tig rgvksgc rubg, FIS^L cghgfcgc tig usg `h prggdptkvg blf-aulag, slykfa tilt tig W. . ^uprgdgN`urt ils rgn`afkzgc tig fggc h`r suni blfaulag t` gfsurg ghhgntkvg lfcufkh`rd lppbknltk`f `h rgaublt`ry stlf-clrcs. Silt ks–wkti`ut qugstk f–kfn`rrgnt.Lbs`, lfc d`st kdp`rtlftby,N`fargss fgvgr luti`rkzgc FIS^L t`nrgltg hgcgrlb prggdptk`f kf kts rubg-dlokfa luti`rkty. Kt‛s prgtty elskn tilt

tig lagfny agts kts p`wgrs lfc luti`r-kty hr`d N`fargss.Sig ldgfcdgfts tlog ghhgnt `f

Cgngdegr 9, 5==9, eut n`dpbklfng wkti tig fgw rubg ks f`t rgqukrgc uftkb^gptgdegr <, 5=<=. Kh tig W.^. ^uprgdgN`urt lbb`ws hgcgrlb prggdptk`f,kt wkbbeg up t` N`fargss t` pr`tgnt tig Ldgrk-nlf pg`pbg.I`pghubby, n`rrgntkfa l elcN`urt cgnksk`f–kh tilt egn dgs fgngs-slry–wkbb eg l t`p prk`rkty h`r tig]rgskcgft lfc N`fargss fgxt yglr. Kegbkgvg tilt kt wkbb eg.^`urng: Blwygrs W^L

XK.SIG FLSK@FLB^NGFG

I @]GHWBB[ E W^I ‛ E LKB@WS Q @F ‛ S S @SLBB[ C G^SU@[ @ WU G N@F@D[

Kf dy `pkfk`f, ]rgskcgft Eusi lfcSrglsury ^gnrgtlry Igfry ]lubs`f ilvgb`ts `h gxpblkfkfa t` c` n`fngrfkfa tigelkb`ut plssgc ey N`fargss.Sig Eusi

Lcdkfkstrltk`f‛s hkflfnklb rgsnugplnolag, wikbg `rkakflbby ti`uait t`ilvg l $1== ekbbk`f n`st, f`w b``os bkogkt wkbb n`st duni d`rg.Gvgf lt l ikaigr n`st, kt w`f‛t eg gf`uai t st`p tiggn`f`dkn w`gs hlnkfa `ur fltk`fufbgss str`fa n`ftr`bs lrg put kf pblng.Kftgrgstkfaby, ilbh `h tig d`fgy ilslbrglcy eggf spgft–a`kfa t` elfos–lfc f`t t` rgsnug h`bos wi`sg i`dgs

wgrg h`rgnb`sgc. Silt wlsf‛t wilt Kti`uait N`fargss ilc luti`rkzgc.

Ldgrknlf tlxplygrs fggc s`dg rglblfswgrs hr`d ^gnrgtlry ]lubs`f.Sigy lbs` fggc t` of`w i`w tiks f w-p`w-grhub dlf wkbb spgfc tig $>7= ekbbk`ftilt rgdlkfs kf tig Sr`uebgc LssgtsUgbkgh ]r`arld (SLU]).

Sigrg c`f‛t lppglr t` eg lfy nbglr lfc cghkfktkvg aukcgbkfgs ls t` wi` wkbblntulbby agt tig rgst `h tiks d`fgy `r

wilt gxlnt purp`sg kt wkbb sgrvg. Lsplrt `h tig elkb`ut ekbb plssgc kf@nt`egr, N`fargss sgt up SLU], wikni akvgs tig Srglsury ^gnrgtlry er`lcluti`rkty ‒t` purnilsg,lfc t` dlog lfchufc n`ddktdgfts t` purnilsg tr`u-ebgc lssgts hr`d lfy hkflfnklb kfstktu-tk`f.— N`fargss alvg tig Srglsury $57=ekbbk`f kf tig hkrst kfstlbbdgft, wikniks of`wf ls tig Nlpktlb ]urnilsg]r`arld. Lpplrgftby, tilt wls dlcglvlkblebg t` elfos, slvkfas lss`nkltk`fslfc ngrtlkf elfo lfc slvkfas lfc b`lfi`bckfa n`dplfkgs.

K ufcgrstlfc tilt ]rgskcgft Eusi ilsf`w rgqugstgc lf lccktk`flb $<==ekbbk`f.Lt bglst $3= ekbbk`f ks egkfa usgct` purnilsg Ldgrknlf Kftgrfltk`flbAr`up st`no. Kf rgturf,LKA ks supp`sgct` n`dpby wkti strknt bkdkts `f gxgnu-tkvg n`dpgfsltk`f, n`rp`rltg gxpgfsgslfc b`eeykfa. K ld t`bc tig rgdlkfkfa$>7= ekbbk`f wkbb a` `ut wkti strkfaslttlnigc.Sig ]rgskcgft nlf lso h`r tigelblfng, eut tilfo a``cfgss N`fargss

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ils tig rkait t` sly f` `r lt bglst K i`pgkt ils tilt luti rkty. Hrlfoby, K‛d f trglb surg wiy tig a`vgrfdgft ks elkbkfa`ut LKA, lf kfsurgr, wikni b`st d rgtilf $53 ekbbk`f kf tig d`st rgngftqulrtgr.LKA ngrtlkfby c`gsf‛t sggd t`eg kf l p`sktk`f t` bgfc lfy d`fgy.Sig

Ldgrknlf pg`pbg fggc t` of`w i`w SLU] wkbb rg`pgf bgfckfa ey elfos lfc

i`w duni d`rg d`fgy wkbb eg fggcgct` agt tig j`e c`fg.K‛d n`fngrfgc tig elkb`ut wkbb wkfc

up egkfa l elc cglb h`r tig Ldgrknlfpg`pbg. I`pghubby, K ld wr`fa lfc tigelkb`ut wkbb gvgftulbby w`ro.Lt prgsgft,i`wgvgr, kt lppglrs f`t t` eg w`rokfa,lfc d`rg n`rp`rltg gxgnutkvgs lrgagttkfa kf bkfg h`r l ilfc-`ut.Qg nlf‛tlhh`rc h`r tig elkb`ut t` wkfc up egkfabkttbg d`rg tilf n`rp`rltg wgbhlrg.^`urng: H`regs

Q IK^SBG -E B@QGU^ ^ I@WBC E G I GB]GC – F @S ] WFK^IGC –E [ S IG H GCGULBA @XGUFDGFS

Qikstbg-eb`wgrs agfgrlbby lrg f t tigd`st p`publr h`bos wkti tigkr e`ssgs

wigf tigy rgp`rt kdpr`pgr `r kbbgalbn`fcunt ey tigkr gdpb`ygrs. Silt ksgspgnklbby trug wigf kt n`dgs t` dkbk-tlry wikstbg-eb`wgrs. Sigy c`f‛t agtduni igbp lt lbb hr`d tig ]gftla`fKfspgnt`r Agfgrlb, tig kftgrflb wltni-

c`a h`r tig Cghgfsg Cgplrtdgft. Kfhlnt, lnn`rckfa t` rgp`rts, tig Kfspgnt r Agfgrlb ilrcby gvgr skcgs wkti sgrvkngdgdegrs wi` n`dpblkf tilt tigy

wgrg pufksigc h`r rgp`rtkfa wr`fac`-kfa. L rgvkgw `h nlsgs ey Sig Lss`nk- ltgc ]rgss rgvglbgc i`w t`uai kt ilseggf h`r hgcgrlb wikstbg-eb`wgrs.

Sig Kfspgnt`r Agfgrlb‛s `hhkngrgjgntgc nblkds `h rgtlbkltk`f lfc st``cey tig dkbktlry kf d`rg tilf ;=% `h fglrby >,=== nlsgs curkfa tig plst skx

yglrs. D`rg tilf 1>% wgrg nb`sgc lhtgr

`fby l prgbkdkflry rgvkgw tilt rgbkgc flvlkblebg c`nudgfts lfc s`urngs–`htgf hr`d tig dkbktlry ktsgbh–t` cgtgr-dkfg wigtigr l hubb kfqukry wls

wlrrlftgc. Kh y`u t` o tiks lt hlng vlbugkt w`ubc kfcknltg tig ikai rgjgntk`frltgs suaagst sn`rgs `h n`dpblkftslrgf‛t vlbkc. Eut nrktkns, kfnbuckfa lUgpuebknlf sgflt`r, w`fcgr wigtigr dlfy vlbkc nlsgs lrg cksdkssgc egh rgegkfa nlrghubby gxldkfgc egnlusg `h

fgaltkvg lttktucgs kf tig Kfspgnt`r Agfgrlb‛s `hhkng.

Qg bglrfgc hr`d tig Lss`nkltgc ]rgss stucy tilt wikstbg-eb`wgr rgprkslbnlsgs lrg ilfcbgc ey l sdlbb tgld kftig Kfspgnt`r Agfgrlb‛s `hhkng nlbbgcDkbktlry Ugprkslb Kfvgstkaltk`fs (DUK).Sigy pgrh`rd tig kfvgstkaltk`f `r dlog surg tig dkbktlry cgplrtdgft kf

nilrag c`gs kt pr`pgrby. Fkfg `ut `h tgfnlsgs n`dg hr`d s`bckgrs, lkrdgf,slkb`rs lfc Dlrkfgs.Sig rgst n`dg hr`dcghgfsg n`ftrlnt`rs lfc ]gftla`f

w`rogrs wi` lrgf‛t n`fskcgrgc rgaublr hgcgrlb gdpb`yggs.

Dkbktlry wikstbg-eb`wgrs lrgf‛t tig`fby hgcgrlb gdpb`yggs wi` ilvg l ckh-hknubt tkdg.Lnn`rckfa t` stltkstkns hr`dtig @hhkng `h ^pgnklb N`ufsgb, lf kfcg-pgfcgft hgcgrlb lagfny tilt rgvkgwsd`st `h tig rgprkslb nlsgs hkbgc ey nkvkb-klf a`vgrfdgft gdpb`yggs, tig sktul-

tk`f kf `tigr hgcgrlb lagfnkgs ks le`uttig sldg. Egtwggf 5==5 lfc 5==1–tig bltgst stltkstkns lvlkblebg–tig^pgnklb N`ufsgb rgngkvgc fglrby 3,7==rgprkslb n`dpblkfts. Kf >>3 h tigd, `r 1.3%, tig `hhkng rubgc kf hlv`r `h tig

wikstbg-eb`wgr.Dkbktlry rgprkslb n`dpblkfts lrg sup-

p`sgc t` eg sgttbgc wktikf <9= clys.[gt`vgr tig plst tgf yglrs, tig fudegr `h gdpb`yggs lsskafgc t` kfvgstkaltg suni nlsgs ils cr`ppgc hr`d 55 t` <;pg`pbg wikbg tig w`rob`lc ils

kfnrglsgc ey 89%, lnn`rckfa t` l rgp`rtt` N`fargss.Lnn`rckfa t` tig rgp`rt,dggtkfa tig <9=-cly rgqukrgdgft wkbbrgdlkf lf gbuskvg a`lb wkti`ut d`rggdpb`yggs. Sig a`vgrfdgft survgy `etlkfgc ey tig L] wls n`fcuntgc kf

Jufg ey tig N`rp`rltg BglcgrsikpN`ufnkb, l euskfgss rgsglrni n`dplfy kf Lrbkfat`f,Xkrakfkl. D`rg tilf ilbh `h tig fglrby <,7== gdpb`yggs kf tigKfspgnt`r Agfgrlb‛s `hhkng rgsp`fcgc.Kegbkgvg wikstbg-eb`wgrs dust eg pr`-tgntgc lfc f`t pufksigc wigf tigy

rgp`rt wr`fahub lnts.^`urng: Lss`nkltgc ]rgss

I KAI N @^S @ H HGDL LCXK^@U^ K ^ @ WSULAG@W^

HGDL ks spgfckfa dkbbk`fs glni d`fti h`r s`-nlbbgc lcvks`rs wi`sg j`eks supp`sgc t` eg oggpkfa up wkti Oltrkfl gvlnuggs.Si`sg gvlnuggs, fud-

egrkfa `vgr 3,===, lrg stkbb bkvkfa kf wilt‛s nlbbgc ‒tgdp`rlry i`uskfa.—F`t `fby ks tig hgcgrlb a`vgrfdgftplykfa h`r tig i`uskfa eut tigrg kslf`tigr dlj`r gxpgfsg glni d`fti lfc tilt ks tig n`st `h tig gvlnuggs‛lcvks`rs.Sig d`ftiby n`st ks kf tig dkb-bk`fs lfc HGDL w`f‛t sly wilt tigt`tlb n`sts lrg.K‛d f`t surg lbb `h tiks ks

l wlstg `h tlxplygrs‛ d fgy, eut Ksuspgnt tigrg ks b`ts `h wlstg igrg.Sigqugstk`f ks, wilt lrg tigsg h`bos c`kfat` glrf tigkr d`fgy0^`urng: Lss`nkltgc ]rgss

XKK.SIG N@U]@ULSGQ@UBC

LKA K ^ F @S S IG @ FB[ E LC L ]]BG K F S IG N @U]@ULSG E LUUGB

Si`uslfcs `h ]uebkn Nktkzgf‛s sup-p`rtgrs skafgc l pgtktk`f rgngftby cgdlfckfa tilt LKA rgturf tig$7>3,=== gxgnutkvgs spgft t` pldpgr tigdsgbvgs. Sig pgtktk`f wls sgft t`tig e`ssgs lt LKA. Ls p`kftgc `ut ey ]uebkn Nktkzgf,LKA ksf‛t tig `fby nubprkt

wigf kt n`dgs t` spgfckfa blvksiby wikbg rgngkvkfa l tlxplygr elkb`ut.Sigrg lrg sgvgrlb `tigrs tilt ilvg c fg

s`dg prgtty elc tikfas. Nbglrby, LKAksf‛t tig fby elc lppbg kf tig n`rp`-rltg elrrgb.

Qikbg Bgidlf Er`s., tig kfvgstdgftelfo, hlngc elforuptny lfc lsogc tighgcgrlb a`vgrfdgft h r l elkb`ut, ktlrrlfagc t` ply gxgnutkvgs dkbbk`fs `h c`bblrs kf e fusgs. Sig Fgw[ ro Skdgslfc Qlsikfat`f ]`st rgp`rtgc tilt kf^gptgdegr, tig elfo lrrlfagc tlppr`vg $<9.5 dkbbk`f kf plydgfts h`r tw` hkrgc gxgnutkvgs lfc lf tigr $7dkbbk`f plydgft h`r lf gxgnutkvg wi`

wls bglvkfa v`buftlrkby. H`ur clys bltgr,Bgidlf wgft elforupt, `fg `h dlfy hkflfnklb si`nos tilt bgc t` tig elkb`ut

wikni ks n`stkfa tlxplygrs lt bglst $1==ekbbk`f lfc d`st bkogby duni d`rg.

Kf @nt`egr, h`rdgr Bgidlf NG@Uknilrc ^. Hubc Jr. n`ftgfcgc tilt ln`dpgfsltk`f systgd tilt plkc ikdle`ut $>7= dkbbk`f egtwggf 5=== lfc5==1 wls ‒lppr`prkltg— cgspktg tign`dplfy‛s sgvgrg hkflfnklb w`gs.

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]uebkn Nktkzgf ks t` eg n`ddgfcgc h`r n`ftkfukfa kts nldplkaf lalkfst wlstg-hub n`rp`rltg spgfckfa. Qg dust lbbn`ftkfug t` hkait n`rp`rltg arggc lfcpr`tgnt tig rkaits `h lbb tlxplygrs.@ur blw hkrd ils eggf c`kfa tiks h`r yglrslfc wg ilvg f` kftgftk`f `h sb`wkfac`wf `ur ghh`rts.^`urng: ]uebkn Nktkzgf

J WCAG ^ L[^ B@^^ K F LKA ^ NIGDG G YNGGC^ $7== D KBBK@F

L hgcgrlb jucag ils rubgc tilt silrg-i`bcgrs `h Ldgrknlf Kftgrfltk`flbAr`up Kfn. b`st d`rg tilf $7==dkbbk`f ls l rgsubt `h l snigdg t`dlfkpubltg tig hkflfnklb stltgdgfts `h tig w`rbc‛s blragst kfsurlfngn`dplfy.Sig rubkfa ey Jucag Nirkst`-pigr Cr`fgy dglfs hkvg h`rdgr kfsur-lfng gxgnutkvgs n`fvkntgc `h tigsnigdg n`ubc hlng up t` bkhg kf prks`fufcgr lcvks`ry sgftgfnkfa aukcgbkfgs.H`ur h`rdgr gxgnutkvgs `h Agfgrlb UgN`rp. lfc l h`rdgr gxgnutkvg `h LKA

wgrg n`fvkntgc kf Hgerulry `h n`f-spkrlny, sgnurktkgs hrluc, dlkb hrluc lfcdlokfa hlbsg stltgdgfts t` tig ^gnurk-tkgs lfc Gxnilfag N`ddkssk`f.

]r sgnut`rs hurfksigc tig n`urt wkti l stucy ey lf gxpgrt, n`fnbuckfa tilttig hrluc-rgbltgc b`ssgs t` LKA silrg-i`bcgrs t`tlbgc $<.5 ekbbk`f t` $<.3

ekbbk`f. Lf`tigr dgti`c`b`ay ey tigsldg gxpgrt put tig b`ssgs lt $733dkbbk f t` $7;1 dkbbk`f. Jucag Cr`fgy rgjgntgc tig ikaigr gstkdltg, eut slkctig b`wgr rlfag wls rgls`flebg.Silthkfckfa lfc l cgtgrdkfltk`f tilt tighrluc lhhgntgc d`rg tilf 57= vkntkds

wkbb kfnrglsg tig lcvks`ry aukcgbkfgsgftgfng rlfag.

Sig aukcgbkfg rlfag lfc l sgftgfn-kfa cltg ilvg f t eggf sgt ygt. SigCghgfclfts nilbbgfagc tig gstkdltg,slykfa tigrg wls f` b`ss t` kfvgst`rs.

Sig Cghgfclfts lrg Nirkst`pigr Alrlfc, U`flbc Hgraus f, Gbkzlegti D`frlc, U`egrt Arlild lfc NirkstklfDkbt`f. ]r`sgnut`rs lrg lsokfa tilt tigCghgfclfts rgngkvg l ‒suestlftklb—prks`f sgftgfng.

Sig Cghgfclfts plrtknkpltgc kf lsnigdg kf wikni LKA plkc Agf Ug lsplrt `h l sgnrgt skcg larggdgft t` tlog`ut rgkfsurlfng p`bknkgs wkti LKA kf5=== lfc 5==<, pr`ppkfa up kts st`no

prkng lfc kfhbltkfa rgsgrvgs ey $7==dkbbk`f. Ugkfsurlfng p`bknkgs lrgelnoups purnilsgc ey kfsurlfng n`d-plfkgs t` n`dpbgtgby `r plrtby kfsurgtig rkso tigy ilvg lssudgc h`r tigkr nust`dgrs. Agfgrlb Ug ks plrt `h Egro-sikrg Iltilwly Kfn.^`urng: Lss`nkltgc ]rgss

^ GSSBGDGFS Q KSI H @UDGU LKA G YGNWSKXG^ L ]]U@XGC

L Cgblwlrg n`urt ils akvgf prgbkdk-flry lppr`vlb t` l $<<7 dkbbk`f sgttbg-dgft kf l silrgi`bcgr cgrkvltkvg lntk`fer`uait ey tig Sglnigrs‛ Ugtkrgdgft^ystgd `h B`uksklfl lalkfst h`ur h`rdgr

LKA gxgnutkvgs lfc N.X. ^tlrr & N`.SigCghgfclfts hr`d LKA kfnbucgc h`rdgr NG@ Ilfo Arggfegra, h`rdgr NH@I`wlrc ^dkti,h`rdgr ckrgnt`r GcwlrcG. Dlttigws lfc h`rdgr ^gfk`r XkngNilkrdlf Si`dls Skzzk`. @h tig $<<7dkbbk f sgttbgdgft, Arggfegra, ^dkti lfc Dlttigws lfc tigkr ckrgnt`rs‛ lfc`hhkngrs‛ bklekbkty kfsurgrs wkbb ply $97.7dkbbk`f? $59.57 dkbbk`f wkbb eg plkc ey N.X. ^tlrr & N`., Kfn.? lfc Skzzk` wkbb ply $<.57 dkbbk`f.Ls y`u dly of`w, Arggf-egra ks f`w nilkrdlf `h N.X. ^tlrr.

Qigf ig bght LKA tigrg wgrg b`ts `h qugstk`fs `vgr n`rp`rltg lnn`uftkfadgti`cs.

Kt wls lbbgagc kf tig B`uksklfl

pgfsk`f hufc blwsukt,wikni wls hkbgc kf5==5 tilt tig LKA gxgnutkvgs gfalagc kfsgbh-cglbkfa kf ngrtlkf trlfslntk fs wkti N.X. ^tlrr.Sig tglnigrs‛ hufc lbbgagc tilttig h`rdgr ckrgnt`rs lfc gxgnutkvg `hhk-ngrs `h LKA erglnigc tigkr hkcunklry cutkgs t` tig n`dplfy lfc t` kts silrg-i`bcgrs, lfc tilt cghgfclft N.X. ^tlrr & N`.,Kfn. lkcgc lfc legttgc ti`sg lbbgagcerglnigs `h hkcunklry cuty. Cghgfclftsn`ftkfug t` cgfy lbb lbbgaltk`fs `h

wr`fac`kfa lfc bklekbkty.L hkflb iglrkfa`f tig sgttbgdgft wkbb eg igbc `f

Cgngdegr <1ti

kf Cgblwlrg.^`urng: Kfsurlfng J`urflb

E W^KFG^^ A U@W] ‛ A WKBS[ ] BGL K ^ L I WAG X KNS@U[ H @U S GYL^ X @SGU^

Sig nrkdkflb justkng systgd sgft lnbglr dgsslag t` p`bktknlb `pgrltkvgs,b`eeyksts lfc hufcrlksgrs rgngftby:‒C`f‛t dgss wkti Sgxls gbgntk`fs.—Sig

Sgxls Lss`nkltk`f `h Euskfgss, tigstltg‛s blragst euskfgss `ralfkzltk`f,pbglcgc aukbty t` kbbgalbby huffgbkfa n`r-p`rltg d`fgy kft` tig 5==5 nldplkaf.Silt wls t` igbp gbgnt l sbltg `h stltgUgpuebknlf blwdlogrs. Ls kts pufksi-dgft, tig lss`nkltk f wkbb ilvg t` ply l$<=,=== hkfg. I`pghubby, tiks wls lbgss`f t` tig lss`nkltk`f lfc ti`sg

wi` hufc kt.Kt dly lbs` eg l bgss`f tilt`tigrs wi` w`ubc usurp tig wkbb `h tigpg`pbg wkbb agt lfc ufcgrstlfc.

Sigsg typgs h nldplkaf hkflfng vk`-bltk`fs nlff`t n`ftkfug t` a` ufpuf-ksigc. Kf tiks nlsg, N`dd`f Nlusg

j`kfgc ]uebkn Nktkzgf kf hkbkfa tig n`d-pblkft tilt bgc t` tig aukbty pbgl.Nrgcktlbs` si`ubc a` t` Sgxlfs h`r ]uebkn

Justkng lfc Nldplkafs h`r ]g`pbg h`r igbpkfa rgsglrni tig n`dpblkft. @h n`ursg, f`fg `h tiks w`ubc ilvg eggfp`sskebg wkti`ut U`ffkg Glrbg, l b`nlb

Ckstrknt Ltt`rfgy wi` wls f`t lhrlkc t`tlog f tig elc auys. Sig Ckstrknt Ltt`rfgy ckc iks j`e lfc ig si`ubc egn`ddgfcgc.

Wfh`rtufltgby, tig pg`pbg `h Sgxlsdust cglb wkti tig n`fsgqugfngs `h

wilt wls n`fskcgrgc l ‒st`bgf gbgn-tk`f—kf 5==5.Sig N`fargssk`flb rgcks-trkntkfa lhtgr tig gbgntk`f w`ubc f`tilvg `nnurrgc wkti`ut tig supp`rt `h tig nlfckcltgs kbbgalbby elnogc ey tigSgxls Lss`nkltk`f `h Euskfgss. Qiltilppgfgc kf Sgxls ufcgrsn rgs tig

fggc h`r suestlftklb rgh`rd `h `ur gbgn-tk`f blws. Kh l systgd t` pr`vkcg ghhgn-tkvg puebkn hkflfnkfa `h gbgntk`fs ilceggf kf pblng, kt d`st bkogby w`ubcilvg ogpt tiks ar`up hr`d kbbgalbby

w`rokfa kf lf gbgntk`f.Ngrtlkfby, kf tighuturg kt wkbb eg d`rg ckhhknubt h`rar`ups suni ls tig Sgxls Lss`nkltk`f `h Euskfgss t` kbbgalbby kfhbugfng tig`utn`dg `h gbgntk`fs. Qg fggc lrgh`rd `h tig gxkstkfa gbgntk`f blws kflbb stltgs lfc `f tig hgcgrlb bgvgb. Ltbglst, tig nrkdkflb n`fvkntk`f kf Sgxls

ks l stgp kf tig rkait ckrgntk`f.^`urng: ]uebkn Nktkzgf

K F^]GNS@U A GFGULB O @SZ ^ ILOG^ W ] S IG ^GN

Qigf I. Clvkc O`tz t``o `vgr lsKfspgnt`r Agfgrlb (KA) lt tig ^gnurktkgslfc Gxnilfag N`ddkssk`f kf Cgngd-egr 5==1, ig slw l fggc t` rgst`rg nrgc-

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kekbkty t` tig `hhkng.Iks prgcgngss`r ilc just eggf nrktknkzgc ey l ^gfltg rgp`rt`vgr tig ^GN‛s ilfcbkfa `h tig ]gqu`tNlpktlb Dlflagdgft kfskcgr trlckfadlttgr.Sig KA‛s `hhkng wls nrktknkzgc h`r hlkbkfa t` ghhgntkvgby i`bc tig ^GN‛s hggtt` tig hkrg. O`tz dlcg l pbgcag t` silogup tig ^GN.^kfng tigf tig fgw KA ilseggf t`uai lfc ils eggf ilrsiby nrktk-

nlb `h tig ^GN–lfc kf plrtknublr wigfkt n`dgs t` kts Gfh`rngdgft Ckvksk`flfc kts ckrgnt`r, Bkfcl Si`dsgf–h`r nuttkfa cglbs wkti wiktg n`bblr cghgfsgblwygrs wikbg lt tig sldg tkdg `vgrrkc-kfa tig rgn`ddgfcltk`fs `h bkfg ^GNgfh`rngdgft stlhh.

Kt‛s ikai tkdg tilt tig ^GN ckc tig j`e kt ks supp`sgc t` eg c`kfa. Gfh`rng-dgft cgnksk fs ey tig ^GN, lfc cksnb`-surgs `h kfh`rdltk`f le`ut tigd,si`ubc eg elsgc `f tig dgrkts `h lnlsg.Lnngss t` sgfk r `hhknklbs `h tig

^GN ey kfhbugftklb rgprgsgftltkvgs `h p`wgr er`ogrs `f Qlbb ^trggt si`ubcf`t eg t`bgrltgc. Kt ngrtlkfby lppglrstilt tikfas fggc nilfakfa lt tig ^GN.O`tz t`bc N`rp`rltg Nrkdg Ugp`rtgr tilt ig ils le`ut >= nlsgs ufcgr kfvgs-tkaltk`f. Ig ils l stlhh `h le ut <3 hubbtkdg luckt`rs lfc kfvgstkalt`rs. Igstltgc curkfa lf kftgrvkgw:

Qigf K hkrst nldg igrg, akvgf tignrktknksd tig `hhkng t``o hr`d N`f-

argss lfc tig ^gfltg rgp`rt, K pbgcagc t` rgst`rg tig nrgckekbkty`h tig `hhkng, t` gfsurg tilt tig`hhkng wls laargsskvg, vklebg lfc vkerlft, lfc b``ogc kft` kdp r- tlft dlttgrs lfc kssug kdp`rtlft rgp`rts tilt c`f‛t pubb lfy

pufnigs.Lfc K egbkgvg tilt K ilvgt` l blrag gxtgft lnikgvgc tilt wkti tig kssulfng `h tigsg rgp rts.

Kftgrflbby, kt ks vgry nbglr tilt tig@hhkng `h Kfspgnt`r Agfgrlb ks lfkdp`rtlft `hhkng kf tig ^GN. Kt‛s

a`kfa t` eg snrutkfkzkfa tig ^GN‛s`pgrltk`fs nlrghubby.Lfc wigrg kt cggds lppr`prkltg wkbb nrktknkzgtig lagfny.

Sig ^GN ils eggf nrktknlb `h O`tz h`r tig rgp`rts ig ils kssugc. I`pghubby,tilt w`f‛t sb`w ikd c`wf. Kt‛s ikai tkdg s`dge`cy a`t tig ^GN‛s lttgftk`flfc dlcg tig lagfny c` kts j`e.^`urng: N`rp`rltg Nrkdg Ugp`rtgr

> BNC H KUD^ ] BGLC A WKBS[ K F ] UKNG - H KYKFA ^ NIGDG

Sirgg gbgntr`fkns hkrds ilvg larggct` pbglc aukbty lfc ply $797 dkbbk`f kfhkfgs h`r n`fspkrkfa t` crkvg up prkngsh`r pg`pbg euykfa n`dputgrs, tgbgvk-sk`f sgts, lfc tigr BNC snrggfs. BACkspbly N . Btc., ^ilrp N rp., lfcNiufaiwl ]knturg Suegs Btc. larggc kfl pbgl larggdgft t` n``pgrltg kf lflftktrust kfvgstkaltk`f ey tig JustkngCgplrtdgft.Sig larggdgft wls hkbgckf hgcgrlb n`urt kf ^lf Hrlfnksn`.BNCs,`r bkqukc nrystlb ckspbly d`fkt`rs, lrgtig ablss ckspbly snrggfs `f d`stblpt`p n`dputgrs, ngbbpi`fgs lfc fgw tgbgvksk`f sgts. Lnn`rckfa t` Cgputy

Lsskstlft Ltt`rfgy Agfgrlb ^n`tt C.Ildd`fc, tig snigdg iurt f`t `fby n`fsudgrs, eut lbs` rgtlkbgrs kfnbuckfa

Lppbg, Cgbb lfc D`t`r`bl. Lt prgsstkdg, tig a`vgrfdgft ckcf‛t ilvg ln`st vlbug h`r tig b ssgs, eut tigkfvgstkaltk`f ks n`ftkfukfa. Ildd`fclff`ufngc tig pbgl cglb lt l JustkngCgplrtdgft erkghkfa,stltkfa:

Sigsg prkng-hkxkfa n`fspkrlnkgslhhgntgc dkbbk`fs `h Ldgrknlf n`f-

sudgrs wi` usg n`dputgrs, ngbb- pi`fgs lfc fudgr`us `tigr i`usgi`bc gbgntr`fkns gvgry cly.

Ey n`fspkrkfa t` crkvg up tig prkng `h BNC plfgbs, n`fsudgrswgrg h`rngc t` ply d`rg h`r tigsg

pr`cunts.Lfc n`fsudgrs wgrg f`t tig `fby `fgs lhhgntgc ey tigsgn`fspkrlnkgs.

BNC snrggfs lrg l $1= ekbbk`f w`rbc- wkcg dlrogt. Siks ks just lf`tigr gxldpbg `h n`rp`rltg n`rruptk`f tiltelcby iurts n fsudgrs.Sig slc truti kstilt wg rglbby c`f‛t of`w i`w cggpn`rp`rltg n`rruptk`f ils eggf lfc

wi` lbb ks kfv`bvgc. Eut wg c` of`w tilt arggc rgsubts kf n`rruptk`f lfctilt tig n`rruptk`f dust eg cglbt wkti

lfc st`ppgc.^`urng: Lss`nkltgc ]rgss

XKKK.NLD]LKAFHKFLFNG UGH@UD

N ILDEGU @ H N @DDGUNG H KFLFNGC W F^WNNG^^HWB A@] N LFCKCLSG^

Kt‛s wgbb-c`nudgftgc tilt tigfltk`f‛s blragst euskfgss b`eey, tig W.^.Nildegr `h N`ddgrng, ils cgvksgc lp`bktknlb lagfcl tilt ks t`tlbby lftk-n`f-sudgr lfc hlv`rs n`rp`rltg wr`fac`-grs. Sig ar`up p`urgc dkbbk`fs `h c`bblrs kft` lcvgrtkskfa kf tig rgngftgbgntk`f nynbg kf lf lttgdpt t` prgvgfttig Cgd`nrltkn ]lrty hr`d wkffkfac`dkflfng kf tig ^gfltg. SigNildegr–wikni cgvgb`pgc kft` lflftk-n`fsudgr `uthkt–rlksgc gf`uai d`fgy hr`d blrag n`rp`rltk`fs t`spgfc wgbb `vgr $>7 dkbbk`f `f tiggbgntk`f. Siks wls c`uebg tigNildegr‛s eucagt h`r I`usg lfc^gfltg rlngs kf tig 5==8 gbgntk`f.

Sig p`bktknlbby-d`tkvltgc ar`up sup-p`rtgc Ugpuebknlf pr`-euskfgss nlfck-cltgs kf lbb `h tig n`ftgstgc ^gfltgrlngs. Sig Nildegr ils egn`dg bkttbgd`rg tilf lf gxtgfsk`f `h tig A@]. H`r-tufltgby h`r tig Ldgrknlf pg`pbg ktsp`bktknlb ghh`rts tiks yglr–kf spktg `h lbbtig spgfckfa–wgrg l cksdlb hlkburg.Dlfy lrg f`w slykfa kt‛s tkdg h`r b`nlbnildegrs `h n`ddgrng–wi` nblkdf`t t` eg kfv`bvgc wkti tig fltk`flbar`up–t` bgt tig puebkn of`w tiks s`rt`h tikfa ey tig W.^. Nildegr w`f‛t egt`bgrltgc.K hubby largg wkti tilt p`sktk`f.^`urng: Qlbb ^trggt J`urflb

W. . ^ W]UGDG N @WUS U GHW^G^ S @ I GLU N ILBBGFAG S @ F @USI N LU@BKFL‛ N LD]LKAF H KFLFNG BLQ

Sig W.^. ^uprgdg N`urt rghusgc–prk`r t` F`vgdegr 3 ti –t` iglr l nilb-bgfag `vgr l pr`vksk`f kf F`rti Nlr`bkfl‛s systgd `h puebknby hkflfngc

jucknklb nldplkafs h`r lccktk`flb hufcskf gxpgfskvg rlngs. Sig Justkngscgnbkfgc, wkti`ut n`ddgft, t` n`f-skcgr tig n`fstktutk`flbkty `h l v`buf-tlry pr`arld plssgc ey tig F`rti Nlr`bkfl Bgaksblturg tilt t``o ghhgnt kf5==3.Sig pr`arld pr`vkcgs nldplkafd`fgy h`r stltg ^uprgdg N`urt lfcN`urt `h Lppglbs nlfckcltgs kh tigy

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largg t` hufcrlkskfa rgstrkntk`fs bglckfaup t` tig agfgrlb gbgntk`f.Sig cgnksk`fnldg `f tig gvg `h lf gbgntk`f kf

wikni lbb eut tw` `h tig <> nlfckcltgsh`r ti`sg sglts `f tig F`vgdegr 3 ti

elbb`t plrtknkpltgc kf tig pr`arld.Sigcgnksk`f bght l hgcgrlb b`wgr n`urtrubkfa kf ghhgnt tilt upigbc tig blw,

wikni ils eggf l d`cgb h`r `tigr

stltgs. ]lub Uylf, l blwygr wkti tig Qlsikfat`f-elsgc Nldplkaf BgalbNgftgr, wi`sg ar`up glrbkgr hkbgc lhrkgfc-`h-tig-n`urt erkgh kf supp`rt `h tig blw, stltgc:

Siks akvgs supp`rtgrs `h jucknklb puebkn hkflfnkfa lfc puebkn hkflfn- kfa kf agfgrlb n`fhkcgfng lfc lssurlfng tilt tig b`fa bkfg `h cgnksk`fs (supp`rtkfa) puebkn hkflfn- kfa...lrg stkbb tig blw h tig blfc.

L h`rdgr ^uprgdg N`urt nlfckcltg

lfc tig F`rti Nlr`bkfl Ukait t` BkhgN`ddkttgg hkbgc sukt `vgr tig blw kf5==7, lraukfa kt rgstrkntgc hrgg spggni rkaits kf nlsgs wigrg `utskcg ar`ups `r f`fplrtknkpltkfa nlfckcltgs gxnggcgcspgfckfa tirgsi`bcs.Sig qulbkhykfa nlf-ckcltgs rgngkvg dltnikfa ‒rgsnug hufcs—t` n`uftgr suni kfjgntk`fs `h d`fgy.Sig W.^.N`urt `h Lppglbs h`r tig H`urti Nkrnukt rubgc wkti F`rti Nlr`bkfl kfDly. Blwygrs h`r tig ]blkftkhh lfc tign`ddkttgg lsogc tig lppgbbltg n`urtufsunngsshubby t` n`fskcgr tig nlsg kf

plrt egnlusg kftgrgst kf puebkn hkflfn-kfa ils gxplfcgc fltk`fwkcg.

Wfcgr tig F`rti Nlr`bkfl pr`arld,qulbkhykfa nlfckcltgs h`r ^uprgdgN`urt rgngkvgc $55>,857 lfc nlfck-cltgs h`r tig N`urt `h Lppglbs rgngkvgc$<8=,=== tiks yglr. Sig pr`arld kshufcgc blragby ey l $7= lffulb hgg tiltlbb F`rti Nlr`bkfl blwygrs dust ply lfc l v buftlry nigno-`hh `f stltgkfn`dg tlx rgturfs. Sig pr`arldrgcungs tig lppglrlfng tilt jucknklbnlfckcltgs n`ubc trglt blwygrs `r tigkr nbkgfts wi` alvg t` tigkr nldplkafsckhhgrgftby wigf nlsgs n`dg t tign`urtr` d. I`pghubby, blws bkog tiks fgkf F`rti Nlr`bkfl wkbb n`ftkfug t` egupigbc. Kf hlnt, lbb stltgs fggc t plssgvgf t`uaigr blws t` igbp nbglf up ler`ogf systgd tilt gxksts kf lbb t``dlfy stltgs.^`urng: Lss`nkltgc ]rgss

KY.N@FAUG^^K@FLBW]CLSG

BLDG C WNO ^ G^^K@F^

Ls l agfgrlb rubg, bgaksbltkvg sgssk`fstilt n`dg lhtgr Gbgntk`f Cly, wigf la``c fudegr `h tig bgaksblt`rs ilvgeggf ‒rgtkrgc—ey tig v`tgrs, lrgf‛t vgry pr`cuntkvg. Kf hlnt, d`st `h ti`sg sgs-sk`fs lrg t`tlbby ufpr`cuntkvg. Wfh`rtu-fltgby, tigrg lrg l fudegr `h nrktknlbpr`ebgds t`cly–d`stby gn`f`dkn kfflturg–tilt N`fargss dust cglb wkti f`w. I`pghubby, lbb `h `ur ^gflt`rs lfcI`usg dgdegrs kf Qlsikfat`f wkbb put`ur fltk f‛s kftgrgst hkrst lfc c` tigrkait tikfa.

BLQDLOGU^ D W^S G FLNS S @WAIGU H KFLFNG U WBG^

Dgdegrs `h N`fargss dust hkaurg`ut i`w t` `vgrilub tig rgaublt`ry strunturg `vgrsggkfa tig W.^. hkflfnklbsystgd. ^trkntgr rubgs a`vgrfkfa rksoy hkflfnklb pr`cunts lrg b`fa `vgrcug.

Lv`kckfa l rgpglt `h tig nurrgft hkflf-nklb dgss, wikni ilc kts r``ts kftrgdgfc`us gxngssgs kf tig sueprkdgd`rtalag dlrogt lfc rlpkcby gr`ckfa

vlbug `h wkcgby-igbc d`rtalag-elnogchkflfnklb pr`cunts,ks lf les`butg fgngs-skty.Sig elkb`ut plnolag tilt tig Eusi

Lcdkfkstrltk`f a`t N`fargss t`lppr`vg–wkti s`dg nilfags–ksf‛ttig lfswgr.

Cgd`nrlts lrg kf n`ftr`b `h N`fargsslfc f`w tigy dust w`ro ilrc t`strgfatigf tig nurrgft rgaublt`ry hrldgw ro.Sig rgaublt ry systgd–lskt gxkts t`cly–ils eggf l akalftknhlkburg. E`ti Cgd`nrltkn lfc Ugpuebk-nlf dgdegrs `h N`fargss dust surgby of`w tilt l str fa, ghhgntkvg supgrvk-s`ry systgd ks elcby fggcgc lfc b`fa`vgrcug.Sig Ugpuebknlfs kf tig QiktgI`usg lfc N`fargss ilvg eggf ‒cgrga-ublt rs— lfc tilt ks `fg `h tig dlkfnlusgs `h tig gn`f`dkn nrksks tilt ksnluskfa sgvgrg pr`ebgds t` Ldgrknlfnktkzgfs. Cgpgfckfa f ‒tig dlrogts—t`s`bvg gn`f`dkn pr`ebgds, wkti`utstr`fa lfc ghhgntkvg rgaubltk`f, wkbbfgvgr eg tig lfswgr. Silt lppr`lni skdpby w`f‛t w`ro.[`u nlf‛t lbb`w lfy

kfcustry t` rgaubltg ktsgbh lfc tig A@]ils bglrfgc tilt bgss`f tig ilrc wly.

Qg nlf‛t lbb`w tig ‒h`xgs— t` eg kfnilrag `h tig ‒igf i`usg— lfy b`fagr.

Qg lrg plykfa h`r tilt lppr`lni cglrby t`cly!^`urng: Lss`nkltgc ]rgss

^ @DG ] UK@UKSKG^ H @U S IG F GYS N @FAUG^^

Qigf tig fgw N`fargss n`dgs t`t`wf fgxt yglr, d`rg sgrk`us pr`ebgds

wkbb eg wlktkfa h`r tigd tilf lt lfy tkdg kf rgngft dgd`ry. Sigrg lrg lfudegr `h ktgds tilt dust eg cglbt wkti lfc s`dg `h tigd lrg sgt `ut egb`w.

• Sig wlrs kf Krlq lfc Lhailfkstlfdust eg gfcgc.

• @ur fltk`f‛s gn`f`dy dust eg putelno kf silpg.

• Arggf j`es dust eg nrgltgc lfc tiggn`f dy stlekbkzgc wkti nbglf, sus-tlkflebg lfc rgfgwlebg gfgray.

• ]uttkfa i dg`wfgrs liglc `h ekae`ssgs kf tig dlsskvg Qlbb^trggt/lut` kfcustry elkb`ut dustilppgf.

• E``stkfa wlags, kfsurkfa kdp`rtslhgty lfc pr`tgntkfa tig gfvkr`f-dgft ey rgpblnkfa tig hlkbgcFLHSL/QS@ trlcg d`cgb dust eg l

prk`rkty.• Sig slhgty `h t`ys, pilrdlngutknlbs

lfc `tigr pr`cunts dust eg gfsurgc.

• Sig rkait t` trklb ey jury–aulrlf-tggc ey tig W.^. N`fstktutk`f–dusteg prgsgrvgc.

• Dlfclt`ry, ekfckfa lrektrltk`f kf lbbn`fsudgr n`ftrlnts lfc trlfslntk`fsdust eg elffgc.

• Lrektrltk f kf lbb furskfa i`dglcdkssk`f larggdgfts dust lbs` egelffgc.

• ]lsskfa t`uai lfc ghhgntkvg nldplkafhkflfng rgh`rd dglsurgs ks l fgngs-skty.

• A`vgrfdgft dust eg nbglfgc up lfctkgs egtwggf blwdlogrs lfc eka n`r-p`rltg c`bblrs lfc b`eeyksts er`ogf.

• ^tr`fa rgstrkntk`fs `f b`eeyksts dusteg plssgc.

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• @ur dkbktlry dust eg dlcg str`falalkf.

• Lbb `h tig elc stuhh tig Eusi alfa ckckf tigkr blst clys dust eg rgvgrsgc.

@evk`usby, tigrg lrg dlfy d`rgkssugs tilt si`ubc eg lccrgssgc ls s``fls p`sskebg. ]rgskcgft-gbgnt @eldl lfcbglcgrs kf N`fargss hr`d e`ti plrtkgs

dust ilvg tigkr bkst `h prk`rktkgs kf`rcgr lfc w`rolebg pblfs dlcg b`faegh`rg tig hkrst `h tig yglr.Qkti`ut lc`uet, tig gn`f`dy ils t` eg tig hkrst`rcgr `h euskfgss. Kh y`u n`ubc sgt tiglagfcl h`r N`fargss, wilt w`ubc y ur t`p prk`rktkgs eg0

Y.]U@CWNSBKLEKBKS[ W]CLSG

A @XGUFDGFS ] U@EG^ @ HH -U @LC X GIKNBG^ LHSGU F WDGU@W^ LNNKCGFS^

Qg ilvg wrkttgf kf prgvk`us kssugsle`ut i`w clfagr`us tig [ldlilUikf` ks lfc f`w hgcgrlb slhgty rgaubl-t`rs lrg kfvgstkaltkfa tig Uikf`. Siksn`dgs lhtgr rgp`rts `h s`dg >= cgltiskfv`bvkfa tig Uikf , kfnbuckfa ti`sg `h tw` y`ufa akrbs kf F`vgdegr. @ur pr`cunt bklekbkty blwygrs lrg n`fvkfngctilt tig Uikf ‛s cgskaf ks ufslhg lfctilt tig vgiknbg ks vgry clfagr`us.Nur-rgftby,[ldlil hlngs d`rg tilf 5== blw-sukts kf stltg lfc hgcgrlb n`urts.[ldlilils sgttbgc s`dg blwsukts, eut rgngftby slkc kt dly stlrt t` hkait rltigr tilfsgttbg nlsgs.[ldlil stlfcs egikfc tigcgskaf h tig Uikf`, l tw`-sglt vgiknbgtilt b``os s`rt `h bkog l nr`ss egtwggf la`bh nlrt lfc lbb-tgrrlkf vgiknbg.

Lnn`rckfa t` tig N`fsudgr ]r`cunt^lhgty N`ddkssk`f, kts kfvgstkaltk`f `h tiks typg `h vgiknbg, wikni kt nlbbs lutkbkty tgrrlkf vgiknbg (WSX), wlspr`dptgc ey vlrk`us hlnt`rs, kfnbuckfatig ikai fudegr `h lnnkcgft rgp`rtslfc blwsukts. Kf lfy gvgft, tig Uikf` kslt tig ngftgr `h kts kfvgstkaltk`f.Sigrglrg f` rgaublt`ry stlfclrcs h`r tiksfgw erggc `h `hh-r`lc vgiknbgs. Sigy lrgf‛t suejgnt t` LSX slhgty stlfclrcsegnlusg `h cgskaf ckhhgrgfngs suni lsilvkfa l stggrkfa wiggb, kf n`ftrlst t`lf LSXs‛ ilfcbgelrs. Fgktigr lrg tigsg

fgw `hh-r`lc vgiknbgs suejgnt t` tigslhgty stlfclrcs h`r nlrs. @wfgrs `h WSXs c`f‛t ilvg t` rgakstgr tigd. Jly I`wgbb, lntkfa lsskstlft gxgnutkvgckrgnt`r `h tig N]^N‛s @hhkng `h IlzlrcKcgftkhknltk`f lfc Ugcuntk`f,dlcg tikskftgrgstkfa stltgdgft:

Qigf tigrg ks f` stlfclrc kf pblng, wg ilvg t` elsknlbby cgtgr- dkfg kh tigrg‛s l suestlftklb rkso`h kfjury lfc cglti, lfc tigrg‛s liurcbg tigrg tilt ils t` eg dgt.

Siks ks i`w n`fsudgr rgaubltk`f`htgf w ros: pr`cunts ikt tig dlrogta`vgrfgc ey f` plrtknublr slhgty stlf-clrcs. Kh kfjury rgp`rts bltgr lrksg n`f-ngrfkfa l pr`cunt, tigsg arlculbby agttig lttgftk`f `h e`ti dlfuhlnturgrslfc rgaublt rs. Dlfy tkdgs blwsuktserkfa le`ut l egbltgc d`vgdgft `f tigplrt `h tig hgcgrlb a`vgrfdgft t` b``o

kft` slhgty ilzlrcs. Kt‛s ufngrtlkf wilt wkbb n`dg hr`d tig N]^N kfqukry.Sig hkrst Uikf` nldg `ut kf 5==>.

[ldlil cgskafgc tig vgiknbgs, f`w n`stkfa le`ut $<<,===, t` `hhgr lakfa

LSX `wfgrs s`dgtikfa wkti tign`dh`rt `h l a`bh nlrt `r dkfknlr euttig gxnktgdgft `h lf LSX.Sig vgiknbgsilvg eunogt sglts. Wftkb tiks yglr,c``rs wgrgf‛t stlfclrc gqukpdgft `ftigd.Lt 73.3 kfnigs wkcg,tig Uikf` ksflrr`wgr tilf lbb eut `fg dlj`r n`d-pgtkt`r. Sig Uikf`‛s n`dekfltk`f `h

cgskaf hlnt`rs, kfnbuckfa kts flrr`w-fgss lfc igkait, rlksgs kts rkso `h tkppkfa `vgr. Kftgrgstkfaby, `fg n`d-pgtkt`r dlrogts l d`cgb ey slykfa ktils l b`wgr ngftgr `h arlvkty tilf tigUikf`. Kh y`u wlft d`rg kfh`rdltk frgbltkfa t` Uikf pr ebgds, n`ftlntDkog Lfcrgws `r N`bg ]`rtks wkti `ur hkrd lt 9==-9;9-5=>3.^`urng: Qlbb ^trggt J`urflb

W ]CLSG @ F <7-] L^^GFAGU X LF^

Kh lsogc,wilt w`ubc y`u sly ks `fg `h tig d`st clfagr`us vgiknbgs `f tigr`lc–kf tgrds `h r`bb`vgr–t`cly0 [`udly eg surprksgc t` bglrf kt‛s l vgiknbgn`dd`fby usgc ey sni` bs, cly nlrgngftgrs, ^n`ut tr``ps, niurnigs, lfci`tgbs–just t` fldg l hgw. Kt‛s tig <7-plssgfagr vlf.Sigsg vlfs b``o bkog lfy `tigr vlf gxngpt tigy ilvg eggfbgfatigfgc t` lnn`dd`cltg d rg pls-

sgfagrs.Sig pr`ebgd ks,wigf tig vlf kshubby b`lcgc,kt‛s tirgg tkdgs d`rg bkogby t` r`bb `vgr kf lf gdgragfny.Lbb `h tig

Ldgrknlf nlr dlogrs eukbc l vgrsk`f `h tig vlf, lfc H`rc sgbbs tig d`st.

^tgp `hh l pblfg lfc lf lkrp`rt i`tgbks bkogby t` pkno y`u up kf l <7-plssgf-agr vlf. Elno i`dg lt tig cly nlrgngftgr, nikbcrgf lrg nbkdekfa le`lrc

tiks typg vlf. @htgf kt‛s tig siuttbg h`r tig plrokfa b`t, l rkcg t` tig ufkvgrskty.Sig [DNL crkvgs tigd, ls c`gs tigp`st `hhkng.Kf hlnt, tigsg vlfs sggd t`eg gvgrywigrg.Sigrg lrg `vgr 7==,===`h tigd `f tig r`lc. Dkbbk`fs `h Ldgrk-nlfs wi` rkcg kf tigd c`f‛t akvg tigdl ti`uait uftkb tig ufkqug nilrlntgr `h tig vlf ks succgfby lfc trlaknlbby rgvglbgc.Silt‛s wilt ilppgfgc t` tigHkrst Elptkst Niurni h ]kgcd`ft, ^`uti Nlr`bkfl wigf kt sgft kts nikbcrgf `f lEkebg rgtrglt.Kts <7-plssgfagr vlf r`bbgc

`vgr `f tig ikaiwly. J`siul Q `c wlsld`fa ti`sg kfskcg lfc ig fgvgr rgalkfgc n`fsnk`usfgss lhtgr tig lnnk-cgft. ^kfng <;;=, `vgr 7== pg`pbg ilvgeggf okbbgc lfc iufcrgcs sgrk`usby kfjurgc kf <7-plssgfagr vlf r`bb`vgrs.Sig lnnkcgft kfv`bvkfa J`siul Q `c ks

just lf gxldpbg `h dlfy. Sig vlf`wfgc ey tig Hkrst Lssgdeby `h A`cniurni kf Eurogeurfgttg,Sgxls, r`bbgc`vgr `f l si`ppkfa trkp, okbbkfa h`ur niurni dgdegrs. H`ur ltibgtgs hr`d]rlkrkg Xkgw L&D Wfkvgrskty wgrg

okbbgc wigf tig crkvgr `h tigkr vlfswgrvgc t` dkss l nlr. N`bbgag sp`rtstglds ilvg eggf ikt ilrc.Sig Ogfy`fN`bbgag swkd tgld b`st l swkddgr.Sirgg pg`pbg wgrg kfjurgc wigfCg]lub Wfkvgrskty‛s w`dgf‛s trlno tgld vlf r`bbgc `vgr. Sw` swkddgrs

wgrg sgrk`usby kfjurgc wigf tig Wfk- vgrskty `h Qksn`fskf @sio`si‛s vlfr`bbgc `vgr.

Siks sgrkgs `h nrlsigs ils nluait tiglttgftk`f `h tig Fltk`flb Ikaiwly Srlhhkn ^lhgty Lcdkfkstrltk`f. Sig

lagfny kfvgstkaltgc tig vlf‛s rgn`rclfc kssugc l rlrg wlrfkfa n`fngrfkfatig H`rc, C`cag, Nigvr bgt, lfc ADN

vlfs. Sig wlrfkfa slkc ‒Sig rkso `h r`bb`vgr kfnrglsgs crldltknlbby ls tigfudegr `h `nnuplfts kfnrglsgs…—Siglagfny stuckgc skfabg-vgiknbg lnnkcgftskf wikni lt bglst `fg pgrs`f wls okbbgc.Kt h`ufc tilt wkti tgf r d`rg plssgf-agrs, 97% `h tig nrlsigs kfv`bvgc lr`bb`vgr. Kt‛s ilrc t egbkgvg, eut tig

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a`vgrfdgft c`gsf‛t rgqukrg lfy r`bb`vgr stlfclrcs.

H`rc eukbcs tig d`st <7-plssgfagr vlfs, h`bb`wgc ey C`cag. AD ils tigsdlbbgr pgrngft `h tig dlrogt lfc gvgfl sdlbbgr pgrngft `h tig hltlb r`bb`vgrs.Sig AD vlf ks l ckhhgrgft cgskaf.Sig

wiggb elsg ks b fagr. Gfakfggrs sly tiltb`wgrs tig nilfng tig vlf wkbb sokc

skcgwlys.Eut wigf b`lcgc, tig AD vlfks stkbb t`p-iglvy, duni bkog tig H`rclfc C`cag.H`rc nlbbs kts vlf tig G>7=.Kt stlrtgc eukbckfa tigd le`ut >= yglrsla`. Lfc, lnn`rckfa t` l h`rdgr H`rcgfakfggr, tigrg wls rgls`f t` qugstk`ftig vlf‛s stlekbkty hr`d tig stlrt.

^lhgty gxpgrts sly tilt t` crkvg l <7-plssgfagr vlf wkti argltgr slhgty, ktdust eg b`lcgc wkti f` d`rg tilf tgfplssgfagrs. Lbs`, ti`sg plssgfagrssi`ubc eg sgltgc t`wlrc tig hr`ft `h tig vlf lfc tig usg `h sgltegbts ks

gssgftklb.Lccktk`flbby, kt‛s vgry kdp`r-tlft t` dlkftlkf tig tkrgs `f tig vlf. Kftig w`rcs `h `fg gfakfggr,‒tig tkrgs `fl <7-plssgfagr vlf dust fgvgr hlkb.—Egnlusg tig lut` dlfuhlnturgrs n`f-tkfug t` sgbb tigsg vlfs, tig rgsp`fskekb-kty h`r slhgty ils hlbbgf `f tig `wfgrslfc kfsurgrs.

Aukcg @fg, tig fltk f‛s bglckfakfsurgr `h niurnigs, ils st`ppgc

wrktkfa lfy fgw p`bknkgs `f <7-plssgf-agr vlfs. Siks kfsurgr wkbb n`fskcgr rgfgwkfa p`bknkgs h`r kts gxkstkfa nus-

t`dgrs `fby kh crkvgrs lttgfc lfc plssspgnklb crkvgr trlkfkfa n`ursgs tilttglni lcvlfngc tgnifkqugs kf `pgrlt-kfa tig <7-plssgfagr vlfs.Aukcg @fg rgn`ddgfcs tilt lbbniurnigs, cly nlrg ngftgrs, sni``bs lfc`tigr ar`ups kddgckltgby n`fskcgr slhgr trlfsp`rtltk`f lbtgrfltkvgs lfc lrgelffkfa tig usg `h <7-plssgfagr vlfs.

Jghh Ilffl,Gxgnutkvg Ckrgnt`r `h Aukcg@fg Ngftgr h`r Ukso Dlflagdgft`esgrvgc:

Kt w`ubc eg vgry glsy t` elsg `ur cgnksk`f purgby `f euskfgss. Eut wg ilvg tig nblkds lfc st`rkgsle`ut pg`pbg wi` lrg egkfa okbbgc kf tigsg vgiknbgs. . . @htgf, 9-<7

pg`pbg cykfa lt `fng, lfc tigkdplnt f l dkfkstry ks pigf`dg- flb. Dlfy dkfkstrkgs ilvg fgvgr rgn`vgrgc hr`d tigsg.

D`st vlf usgrs lrg uflwlrg tilt tigsg vgiknbgs c`f‛t ilvg t` plss tig plssgf-

agr tgst hr`d FIS^L tilt `tigr plssgf-agr vgiknbgs c`. Fgktigr lrg crkvgrs nur-rgftby rgqukrgc t` ilvg l n`ddgrnklbcrkvgr‛s bkngfsg. Jkd ^wgcgfeura,N``r-ckflt`r `h Lffukty lfc Kfsurlfng ^gr-

vkngs wkti tig Lbleldl Elptkst ^tltgE`lrc h Dkssk`fs, str`faby rgn`ddgfcstilt niurnigs lbb`w f` pgrs`f t` crkvg l<7-plssgfagr vlf ufbgss tigy ilvg l

n`ddgrnklb crkvgr‛s bkngfsg.Lbb `h tigsghlnt`rs kfnrglsg clfagrs t` plssgfagrsrkckfa kf tigsg vlfs.

Ls rgngftby ls Dly `h 5==9, FIS^L Lcdkfkstrlt r,Fkn`bg U.Dls`f, uragc lbb<7-plssgfagr vlf usgrs t` tlog lppr`-prkltg slhgty prgnlutk`fs wigf tlokfat` tig r`lc curkfa tig eusy suddgr trlvgb sgls`f.S` gfn`urlag niurnigs t`euy dkfk-eussgs kfstglc `h vlfs, Aukcg@fg `hhgrs cksn`ufts h`r euykfa tig‒slhgr trlfsp`rtltk`f.— Sigsg vgiknbgsstkbb kdp`sg l slhgty rkso t` `nnuplfts,

nblkdkfa tig bkvgs `h 79 pg`pbg kf lnnk-cgfts kf 5==8.S` sly tilt <7-plssgfagr vlfs lrg ufrgls`fleby clfagr`us ks lstrug l stltgdgft ls K n`ubc p`sskeby dlog wigf kt n`dgs t` slhgty.

I GLX[ S UWNO ] @^S -N @BBK^K@F H KUG^

Sig bktkaltk`f kfv`bvkfa p`st-n`bbksk`fhugb-hgc hkrgs usulbby kfv`bvgs plssgfagr nlrs. I`wgvgr, iglvy truno nrlsiw r-tikfgss bktkaltk`f, kfnbuckfa p`st-n`bbk-

sk`f hugb-hgc hkrgs, c`gsf‛t rgngkvgfglrby tig lttgftk`f tig kssug cgsgrvgs.Iglvy truno `pgrlt`rs lrg gftktbgc t`tig sldg slhgty egfghkts tilt plssgfagr nlr dlfuhlnturgrs lrg rgqukrgc t`gxtgfc t` tigkr nust`dgrs.Kf tig plst,duni lttgftk`f ils eggf h`nusgc `ftig b`nltk`f `h hugb tlfos kf plssgfagr nlrs.Lt tkdgs lut` dlfuhlnturgrs ilvgpblngc hugb tlfos `utskcg tig hrldgrlkbs ls kf tig nlsg `h tig skcg-slccbg alstlfos `h tig AD pknoup trunos.Lt `tigr tkdgs hugb tlfos ilvg eggf pblngc t``

hlr rglrwlrc kf plssgfagr nlrs, ls kf tiggxldpbg `h tig H`rc ]kft`.Ls wkti nlrs,hlkburg t` pr`pgrby cgskaf l hugb systgdkf iglvy trunos h`r tig kfgvktlekbkty `h

wrgnos pblngs plssgfagrs lfc `pgrl-t`rs lt sgvgrg rkso `h kfjury `r cglti.

Qigf kt n`dgs t` iglvy trunos, tighugb tlfos fggcgc lrg `htgf gxtrgdgby blrag lfc dlfuhlnturgrs lraug tilt kt ksf`t hglskebg t` pblng tig tlfos wktikftig vgiknbg hrldg rlkbs.Sigrgh`rg,fglrby

gvgry iglvy truno ils blrag hugb tlfosstrlppgc t` tig skcg `h tig vgiknbgrglckby gxp`sgc t` kdplnts ey plssgf-agr nlrs, trunos lfc `tigr iglvy trunos.

Ls l rgsubt, hugb spkbblag kf iglvy truno wrgnos ks f`t `fby bkogby eut pr`elebg.^kfng iglvy truno dlfuhlnturgrs lrgrgskstlft t` d`vkfa hugb tlfos hr`dtigkr gxp sgc b`nltk`f, lf lbtgrfltkvg ks

t` rgcung tig bkogby s`urngs `h kafktk`fkf tig gvgft `h l n`bbksk`f.Kf d`st nlsgs, iglvy truno dlfuhln-

turgrs pblng tig elttgry e`x wktikfkfnigs `h tig hugb tlfo `r ilvg elttgry nlebgs ruffkfa `vgr `r `f tig hugbtlfos. Kf tig gvgft `h l nrlsi, suni nb`sg pr`xkdkty `h tig elttgry t` tighugb tlfo kfnrglsgs tig bkogbki``c tilt

wigf l hugb spkbb `nnurs tigrg wkbb lbs`eg lf kafktk`f s`urng kf tig elttgry n`dplrtdgft. Sig dlj r tirgg gbg-dgfts fggcgc t` nrgltg l hkrg lrg lkr,

hugb lfc lf kafktk f s`urng. Nbglrby, kh y`u rgd`vg `fg `h tigsg gbgdgfts, tigbkogbki``c `h l p`st-n`bbksk`f hugb-hgchkrg ks suestlftklbby rgcungc.

Lf lbtgrfltkvg cgskaf t` igbp rgcungtig bkogbki``c `h l p`st-n`bbksk`f hugb-hgc hkrg kf l iglvy truno ks t` d`vg tigelttgry e`x egtwggf tig hrldg rlkbslb`fa wkti lbb lss`nkltgc nlebgslttlnigc t` tig elttgry e`x.Siks rgb nl-tk`f wkbb suestlftklbby rgcung tig`pp`rtufkty h`r cldlag t` `nnur t` tigelttgry e`x `r kts lss`nkltgc nlebgs

tigrgey rgcunkfa tig bkogbki``c `h lfkafktk`f s`urng tilt n`ubc splro l p`st-n`bbksk`f hugb-hgc hkrg kf l iglvy truno.

D`vkfa tig elttgry e`xgs t` l p`sk-tk`f kfskcg tig hrldg rlkbs ks f`t l fgw `r f`vgb lppr`lni eut ks `fg tilt ksrlrgby h`bb`wgc ey iglvy truno dlfuhln-turgrs.Kf hlnt,Hrgkaitbkfgr N`rp rltk`fkfnbucgc tiks lbtgrfltkvg cgskaf kf trunoslt bglst ls glrby ls <;;8. I`wgvgr, kh iglvy truno dlfuhlnturgrs ilc n`f-cuntgc l pr`pgr rkso/ilzlrc lflbysks tikslbtgrfltkvg cgskaf n`fngpt n`ubc ilvg

eggf gdpb`ygc duni glrbkgr.Qikbg rgb`-nltk`f `h tig elttgry e`xgs kf l iglvy truno c`gs f`t rgs`bvg tig blragr kssugrgbltgc t` tig skzg lfc pblngdgft `h tiggxtgrflb hugb tlfos, kt c`gs pr`vkcg lsgrk`us `pp`rtufkty t` rgcung tig bkogbk-i``c tilt hugb spkbblag wkbb eg kafktgc ey cldlag c`fg t` tig elttgry e`xgs. Kh

y`u wlft d`rg kfh`rdltk`f `f tikssuejgnt `h hugb-hgc hkrgs n`ftlnt EgfElogr kf ur hkrd lt 9==-9;9-5=>3.

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YK.DL^^ S@US^W]CLSG

J WU[ LQLUC^ $<8.8 D KBBK@F K F ^ OKF ] LSNI N L^G

Lf Kbbkf`ks stltg n`urt jury rgturfgc l vgrcknt rgqukrkfa tw` ufkts `h J`ifs`f& J`ifs`f t` ply $<8.8 dkbbk`f t` tighldkby `h l Niknla`-lrgl w`dlf wi`ckgc lhtgr uskfa l Curlagskn plkf-pltni.Siks cglbt tig n`dplfy kts h`urti cghglt kf ls dlfy trklbs skfng 5==8.

Jlfkng CkN`s`b`,wi` wls `fby >9 yglr `bc, ckgc kf Hgerulry 5==3 egnlusg tigpltni sig wls wglrkfa cgbkvgrgc l hltlbc`sg `h tig flrn`tkn hgftlfyb, tigcgvkng‛s dlkf kfargckgft.

Sig Curlagskn-erlfc pltni ks dlcgey Lbzl N`rp., l D`uftlkf Xkgw, Nlbkh`r-fkl, n`dplfy `wfgc ey J ifs f &

J`ifs`f, tig w`rbc‛s blragst dlogr `h dgcknlb cgvkngs.Sig pr`cunt wls cks-trkeutgc ey lf`tigr J`ifs`f & J`ifs`fufkt, Jlfssgf ]ilrdlngutknl. Sigpltnigs agfgrltgc $<.<8 ekbbk`f kf slbgsblst yglr h`r J`ifs`f & J`ifs`f,dlokfa tigd tig n`dplfy‛s sgvgfti egst-sgbbkfa pr`cunt, lnn`rckfa t` cltln`dpkbgc ey Eb``degra. Sig blwsukt

wls hkbgc ey Drs. CkN`s`b`‛s iuselfc, J`if.Sig n`upbg ilc tirgg nikbcrgf.^`urng: Eb``degra

H GFSLF[B ] LKF ] LSNI X GUCKNS K F H B@UKCL

L $<> dkbbk`f vgrcknt wls rgturfgcrgngftby kf Hb`rkcl h`r tig hldkby `h l

w`dlf wi` ckgc hr`d lf `vgrc`sg `h plkf okbbgrs cgbkvgrgc ey l plkf pltni dlcg ey Jlfssgf ]ilrdlngutknlb ]r`c-unts lfc Lbzl, sueskcklrkgs h J`ifs f &

J`ifs f.Sig n`dplfy ofgw tig dlfu-hlnturkfa cghgnts nlusgc tig pr`cun-tk`f `h hblwgc pltnigs, ygt kt s`bc tigcgvkngs lfywly. Sig vkntkd wls l >3-

yglr-`bc d`tigr `h hkvg wi` ckgc hr`dlf `vgrc sg `h Hgftlfyb, l plkf okbbgr d`rg p`wgrhub tilf d`rpikfg tilt kscgbkvgrgc ey tig pltnigs.

Sig pltnigs agfgrltgc $<.8 ekbbk`f kfab`elb slbgs blst yglr rlfokfa sgvgfti `f J`ifs`f & J`ifs`f‛s bkst `h egstsgbbkfa pr`cunts. Sig jury lbs` n`f-nbucgc tilt tig cglti kf tiks nlsg wlstkgc t` elc lcvkng tig w`dlf a`t hr`d

l piysknklf‛s lsskstlft wi d sig nlbbgctig fkait egh rg sig ckgc,n`dpblkfkfa`h flusgl lfc v`dktkfa.Gvkcgfng kf tignlsg rgvglbgc tig lsskstlft t`bc igr t`tlog lftk-flusgl dgcknkfg rltigr tilft` a` t` tig gdgragfny r``d.

Sig jur`rs n`fnbucgc tilt J`ifs`f & J`ifs`f wls 9=% rgsp`fskebg h`r igr cglti wikbg tig c`nt`r‛s lsskstlft wls

5=% bklebg h`r dksilfcbkfa igr nlbb. J`ifs f & J`ifs`f‛s `hhknklbs slkc kf lf Luaust 5==9 hkbkfa wkti tig ^gnurktkgs& Gxnilfag N`ddkssk`f tilt Jlfssgflfc Lbzl stkbb hlng skxty blwsukts `vgr tig Curlagskn pltnigs. J`g Slrlsol, lf@rblfc`, Hb`rkcl blwygr, rgprgsgftgctig vkntkd‛s hldkby lfc ckc l vgry a``c

j`e. Kh y`u wlft d`rg kfh`rdltk`f `fHgftlfyb n`ftlnt Hrlfo Q``cs`f kf `ur hkrd lt 9==-9;9-5=>3 `r g-dlkb ltHrlfo.Q``cs`fMeglsbgylbbgf.n`d.^`urng: Eb``degra

BLQ^WKS^ K FX@BXKFA S IG I GLUS ^ WUAGU[ C UWA S UL^[B@B E GKFA H KBGC

Sig crua Srlsyb`b,usgc curkfa `pgf-iglrt suragry t` rgcung eb``c b`ss, ilsegn`dg tig suejgnt `h l ar`wkfafudegr `h blwsukts. Kf tigsg sukts, kt‛slbbgagc tilt tig crua, dlfuhlnturgc ey Elygr, nlusgs rgflb hlkburg lfc `tigr rksos, kfnbuckfa iglrt hlkburg lfc str`og.

Ls wg ilvg prgvk`usby rgp`rtgc, tig

HCL suspgfcgc slbgs `h Srlsyb`b kfF`vgdegr 5==1 lhtgr kt ilc eggf `ftig dlrogt h`r <3 yglrs.Sig fudegr `h pg`pbg lhhgntgc n`ubc eg d`st skafkhk-nlft egnlusg tig crua wls usgc quktg`htgf curkfa `pgf-iglrt suragry.

Srlsyb`b wls usgc kf suragry lfc f`tprgsnrkegc. D`st pltkgfts w`ubcf‛tof`w lt tig tkdg `h tigkr suragry tilt kt

wls egkfa usgc. Kt‛s gstkdltgc tilt 3.7dkbbk`f pltkgfts w`rbcwkcg ilvg eggfakvgf Srlsyb`b, kfnbuckfa <.7 dkbbk`fpltkgfts kf tiks n`uftry.Sius hlr, tigrg

ilvg eggf le`ut <7= nlsgs hkbgc fltk`f- wkcg lalkfst Elygr tiks yglr.L dubtkcks-trknt bktkaltk`f plfgb wls sgt up kf Jufg5==9 kf tig ^`utigrf Ckstrknt `h Hb`rkcl. Sig hkrst trklb kf tig DCB ilseggf sgt h`r Jlfulry 5=<=.

L nb`sgr b``o lt tiks crua ks kf `rcgr.Srlsyb`b, tig erlfc fldg h`r lpr`tkfkf,rgcungs eb``c b`ss curkfa `pgf-iglrtsuragry, tigrgey cgnrglskfa tig ld`uft`h eb` c fggcgc h`r trlfshusk f. Kf

<;;>, kt wls lppr`vgc h`r usg kf ikai-rkso nlrckln suragrkgs lfc wls wkcgby usgc kf lbb nlrckln suragrkgs kf suesg-qugft yglrs. Kf Jlfulry 5==8, l stucy ey Cr. Cgffks Dlfalf` puebksigc kf tig

Fgw Gfablfc J`urflb `h Dgcknkfgn`fnbucgc tilt tig crua d`rg tilfc`uebgc tig rkso `h rgflb hlkburg. Kf ^gp-tgdegr 5==8, tig HCL dgt wkti Elygr

lfc v`tgc t` oggp Srlsyb`b `f tigdlrogt. I`wgvgr, kf le`ut `fg wggo,Elygr cksnb`sgc kts `wf stucy n`fhkrd-kfa tig Dlfalf` rgsubts lfc tig HCL kssugc l puebkn iglbti lcvks`ry. KfCgngdegr 5==8, tig crua‛s blegb wlsnilfagc t` wlrf `h p`tgftklb rgflb cys-hufntk`f. Sig skaflturg kfjury `h tikscrua ks okcfgy hlkburg, wikni ksf‛t ln`dd`f `nnurrgfng ls l rgsubt `h iglrt hlkburg.

Sig HCL suspgfcgc slbgs `h Srlsyb`blhtgr l Nlflcklf ELUS (Eb``c N`fsgr-

vltk`f Wskfa Lftkhkerkf`bytkns Srklb)stucy wls ilbtgc kf @nt`egr 5==1egnlusg pltkgfts wgrg cykfa wktikf >=clys `h egkfa akvgf lpr`tkfkf.Sig hkflbrgsubts `h tilt stucy wgrg puebksigc kfDly 5==9,lfc Elygr pubbgc tig rgdlkf-kfa st`no `h Srlsyb`b hr`d tig dlrogt. Kh

y`u wlft d`rg kfh`rdltk`f `f tikscrua, nlbb Hrlfo Q``cs`f lt 9==-9;9-5=>3 `r g-dlkb ikd lt Hrlfo.Q `cs`fM-eglsbgylbbgf.n`d.

LXLFCKL D L[ F @Q E G ] WBBGC H U@D S IG D LUOGS

^kfng l dgtl-lflbysks wls dlcgpuebkn kf Dly 5==1, Lvlfckl, Ablx -^dktiObkfg‛s cklegtgs crua, ils n`dgufcgr hkrg. Sig dgtl-lflbysks si`wgctig dgcknkfg wls kfnrglskfa tig rkso `h iglrt lttlnos h`r ti`sg tlokfa tig dgc-knltk`f. L eblno e`x wlr fkfa wlsrgqukrgc t` eg pblngc `f tig crua‛sblegb. F`w Lvlfckl-kfcungc bkvgr hlkb-urgs ilvg eggf sggf lfc l eblno e`x

wlrfkfa ils eggf pblngc `f tig blegbh`r tiks plrtknublr lcvgrsg gvgft. Ls l rgsubt `h tigsg upcltgc wlrf-

kfas, l n`upbg `h wgbb of`wf piysknklflss`nkltk`fs ilvg dlcg rgn`ddgfcl-tk`fs lalkfst tig usg h tiks crua.Aukcg-bkfgs kssugc rgngftby ey tig LdgrknlfCklegtgs Lss`nkltk`f lfc tig Gur`pglf

Lss`nkltk`f h`r tig ^tucy `h Cklegtgsslkc dgdegrs `h l j`kft dgcknlb plfgb‒uflfkd`usby lcvksgc lalkfst uskfa

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Lvlfckl.—Lhtgr tiks rgn`ddgfcltk f, `f@nt`egr >= ti ]uebkn Nktkzgf lsogc tigHCL t` elf tig crua. HCL `hhknklbs ilvgkfcknltgc tilt tigrg ks l spbkt wktikf tiglagfny le`ut wigtigr t` pubb Lvlfckl`hh tig dlrogt `r lbb`w kt t` stly wkti str`fagr wlrfkfas.

]uebkn Nktkzgf egbkgvgs tig a`vgrf-dgft si`ubc elf tig cklegtgs crua

Lvlfckl egnlusg `h l wkcg vlrkgty `h bkhg-tirgltgfkfa rksos, kfnbuckfa iglrtlfc bkvgr cldlag.Sig n`fsudgr ar`uphkbgc l pgtktk`f wkti tig H``c lfc Crua

Lcdkfkstrltk`f t` ilvg Lvlfckl tlogf`hh tig dlrogt. ]uebkn Nktkzgf slkc kftig pgtktk`f:

Sig HCL ks kf p`ssgssk`f `h nbglr,ufgqukv`nlb gvkcgfng tilt (Lvlfckl)nlusgs l wkcg vlrkgty `h t`xknktkgs.

Dlfy `h tigsg lrg bkhg-tirgltgfkfa, suni ls iglrt lttlnos, iglrt hlkburg (lfc) bkvgr hlkburg.

Lvlfckl‛s iglrt rksos wgrg er`uait t`bkait tw` yglrs la` kf l dgcknlb j`urflblrtknbg tilt rgp`rtgc l 3>% ikaigr rkso `h iglrt lttlnos ld`fa Lvlfckl pltkgfts

wigf n`dplrgc wkti ti`sg tlokfa`tigr cklegtgs cruas. Lbti`uai snkgf-tksts lrg stkbb cgeltkfa l bkfo egtwggftig crua lfc iglrt lttlnos, n`fngrfsle`ut tig dgcknlb gvkcgfng bgc t`str`fagr wlrfkfas.Ls l rgsubt,Lvlfcklusg cr`ppgc silrpby, eut le ut ldkbbk`f W.^. pltkgfts stkbb tlog kt. ]uebkn

Nktkzgf‛s `wf rgsglrni ils h`ufc <3nlsgs `h bkvgr hlkburg lss`nkltgc wkti

Lvlfckl, <5 `h wikni bgc t` cglti.Sigpgtktk`f lbs` slkc Lvlfckl prgcksp`sgss`dg pltkgfts t` gyg pr ebgds, lfgdkllfc e`fg hrlnturgs.

Ablx` stkbb slys kt c`gsf‛t egbkgvg Lvlfckl nlusgs bkvgr hlkburg. Sign`dplfy slkc kts `wf cltl si`ws tigcrua ils l a `c slhgty rgn`rc wigf ktn`dgs t` bkvgr pr`ebgds.Sig n`dplfy nblkds tig cltl f iglrt lttlnos kskfn`fnbuskvg lfc tilt Lvlfckl ks slhglfc ghhgntkvg wigf usgc lnn`rckfa t`ckrgntk`fs. Lvlfckl slbgs ilvg hlbbgfsilrpby skfng tig Dly 5==1 rgp`rt

wikni lppglrgc kf tig Fgw Gfablfc J`urflb `h Dgcknkfg . I`wgvgr, lppr`x-kdltgby tgf ti`uslfc prgsnrkptk`fs lrgstkbb egkfa hkbbgc clkby h`r Lvlfckllnn`rckfa t` ]uebkn Nktkzgf.Qkti `tigr slhgr lfc skdkblr trgltdgfts `f tigdlrogt, wiy ks tig HCL wlktkfa t` lnt0I`pghubby, tig fgw lcdkfkstrltk`f kf

p`wgr wkbb stgp kf lfc lbb`w hgcgrlblagfnkgs t` rgturf t` tigkr j`e `h pr`-tgntkfa n`fsudgrs rltigr tilf pr`tgnt-kfa tig kftgrgsts `h eka euskfgss ls ilseggf c`fg ufcgr tig Eusi Lcdkfkstrl-tk`f. Kh y`u wlft d`rg kfh`rdltk`f `f

Lvlfckl n`ftlnt Hrlfo Q``cs`f lt 9==-9;9-5=>3 `r g-dlkb lt Hrlfo.Q``cs`fMeglsbgylbbgf.n`d.

^`urng: Qlbb ^trggt J`urflb lfc Lss`nkltgc ]rgss

F GQ ^ SWC[ K ^ E LC F GQ^ H @U D GCSU@FKN

Cgvkng dlogr Dgctr`fkn a`t s`dgelc fgws rgngftby wigf l stucy si`wgc tilt kts fgw crua-n`ltgc stgft

wls lss`nkltgc wkti d`rg iglrt lttlnoslfc eb``c nb`ts tilf l rkvlb stgft dlcgey J`ifs`f & J`ifs f. Ugsubts hr`dtig stucy, wikni kfnbucgc d`rg tilf5,=== pltkgfts, si`wgc tilt iglrt

pltkgfts wi` rgngkvgc tig Dgctr`fkncgvkng,nlbbgc Gfcglv`r, ilc d`rg iglrtlttlnos lfc eb``c nb`ts lfc fggcgcrgpglt pr`ngcurgs d`rg `htgf tilfti`sg trgltgc wkti tig J&J stgft, of`wfls Nypigr.

Ls y`u of`w, crua-n`ltgc stgfts lrgtkfy wkrg dgsi tueublr cgvkngs tilt lrgkdpblftgc kf cksglsgc vgssgbs t` pr`ptigd `pgf. Sig crua n`ltkfa kscgskafgc t` oggp vgssgbs hr`d rgnb`a-akfa.Kftgrgstkfaby, tiks stucy wls sp f-s`rgc ey J&J. Kt si`wgc tigrg wls f`

ckhhgrgfng kf cglti rltgs. Sig stucy,nlbbgc ^ rt @ut KKK,wls prgsgftgc lt tigSrlfsnltigtgr Nlrck`vlsnublr Sigrlpgu-tkns dggtkfa kf Qlsikfat`f C.N.Dgctr`fkn slys tig J&J stucy ks lt `ccs

wkti gvgry `tigr stucy tilt ils eggfc`fg. Kf lfy gvgft, tig rgbglsg `h tigstucy wlsf‛t a``c fgws h`r Dgctr`fkn.^`urng: Ugutgrs

] LKF C UWA^ C @WEBG U K^O @ H ^ GN@FC I GLUS LSSLNO LFC C GLSI K F ^ SWC[

L Clfksi stucy, rgbglsgc blst d`fti,h`ufc tilt iglrt lttlno lfc iglrthlkburg pltkgfts ilvg l ikaigr rkso `h lsgn`fc iglrt lttlno `r cglti kh tigy tlog plkfokbbgrs,kfnbuckfa Ngbgergx lfctig agfgrkn crua keupr`hgf. Sig rkso c`uebgc wktikf tig hkrst ;= clys `f tigplkfokbbgrs Ngbgergx `r Xk`xx kf ti`sg

wi` ilc survkvgc l iglrt lttlno `r iglrt hlkburg,n`dplrgc wkti ti`sg wi`

ckcf‛t tlog tig dgcknltk`fs, lnn`rckfat` rgsglrni prgsgftgc rgngftby lt tig

Ldgrknlf Iglrt Lss`nkltk`f dggtkfa kfFgw @rbglfs. @tigr n`dd`f plkf-okbbgrs, suni ls tig agfgrkns cknb`hgflnlfc keupr hgf, kfnrglsgc tig rkso egtwggf 5.< lfc <.> tkdgs. K‛d surgtiks stucy wkbb nlusg l arglt cglb `h n`fngrf lfc cgeltg.

^`urng: Eb``degra

HCL N @FSKFWG^ S @ K AF@UG G XKCGFNG @ F E]L

Sig H``c lfc Crua Lcdkfkstrltk`fkaf`rgc gvkcgfng wigf n`fnbuckfa tiltl nigdknlb kf pblstkn eley e ttbgs ksslhg, lnn`rckfa t` lf gxpgrt plfgb lsogct` rgvkgw tig lagfny‛s ilfcbkfa `h tign`ftr`vgrsklb suestlfng. ^tuckgs tilt tigHCL kaf`rgc si`w tilt ekspigf`b L (E]L) n`ubc nlusg ilrd lt bgvgbs lt bglsttgf tkdgs b`wgr tilf tig ld`uft tilttig lagfny slys ks slhg h`r elekgs,lnn`rckfa t` tig plfgb‛s rgp`rt. Siggxpgrt plfgb slys tig HCL wls wr`fat` elsg kts Luaust slhgty cgnksk`f `ftirgg kfcustry-hufcgc stuckgs.Lf`tigr a`vgrfdgft lagfny, tig Fltk`flb S xk-n`b`ay ]r`arld, ilc h`ufc tilt dlfy `tigr kfcgpgfcgft stuckgs cgsgrvgcn`fskcgrltk`f.Silt `evk`usby e`tigrgctig plfgb dgdegrs. Elsgc f ti`sgkfcgpgfcgft stuckgs, tig t`xkn`b`ay

pr`arld n`fnbucgc kf ^gptgdegr tilttigrg ks ‒s`dg n`fngrf— tilt E]L lbtgrscgvgb`pdgft `h tig erlkf,pr`stltg lfcegilvk`r kf nikbcrgf lfc hgtusgs.

Sig plfgb‛s rgp`rt n`fnbucgs tiltgxnbuckfa vlbulebg snkgftkhkn stuckgs‒nrgltgs l hlbsg sgfsg `h sgnurkty—le`utE]L lfc ‒`vgrb``os l wkcg rlfag `h p`tgftklbby sgrk`us hkfckfas.—Sig HCL dlcg `tigr skafkhknlft dkstlogs tiltilvg nlusgc kt t` ufcgrgstkdltg E]L‛sp`tgftklb clfagrs. Sig plfgb slys kftiks rgalrc:

• Qigf dglsurkfa E]L bgvgbs kfkfhlft h rdubl, h`r gxldpbg, tig HCL usgc `fby <3 nlfs `h bkqukc h`rdubl,lbb purnilsgc lt tig sldg tkdg.Sigf, tig HCL usgc tig lvgrlag E]L bgvgb h`ufc kf tigsg nlfs, wikni lrgbkfgc wkti E]L.Sig plfgb f`tgs tilts`dg elekgs wi`sg h`rdubl n`dgshr`d nlfs wkti le`vg-lvgrlag E]L bgvgbs dly eg gxp`sgc t` hlr d`rg`h tig nigdknlb tilf `tigrs.

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• Sig HCL lbs` hlkbgc t` n`fskcgr tignudubltkvg ghhgnt `h egkfa gxp`sgct` E]L hr`d c`zgfs `h pr`cunts.SigHCL dly ilvg ufcgrgstkdltgc tigtrug ld`uft `h E]L t` wikni elekgslrg gxp`sgc.

Sig fgw rgp`rt wls wrkttgf ey lsuen`ddkttgg `h tig lagfny‛s `utskcgsnkgfng e`lrc, l blrag ar`up `h gxpgrtstilt lcvksgs tig HCL `f n`dpbgxkssugs.Silt blragr e`lrc dly cgnkcg t`kssug kts `wf rgp`rt t` tig HCL. SigHCL slkc tig fgw rgp`rt ‒rlksgs kdp`r-tlft qugstk`fs—lfc tilt kt‛s pblffkfa t`c` lccktk`flb rgsglrni `f E]L.

Nrktkns ilvg b`fa n`ftgfcgc tiltE]L, wikni lnts bkog tig i`rd fggstr`agf, nlf nlusg ilrd lt gxtrgdgby b`w c`sgs. H`r gxldpbg, tig Gfvkr f-dgftlb Q rokfa Ar`up slys E]L n`ubcnlusg erlkf, egilvk`r lfc pr stltgcldlag lt bgvgbs 7== tkdgs b`wgr tilftig HCL‛s pr`p`sgc gxp`surg bkdkt.Lflcv`nlny ar`up, tig Flturlb Ugs`urngsCghgfsg N`ufnkb, egbkgvgs E]L ks t``t`xkn t` usg kf eley pr`cunts lt lbb.Sigar`up ils h`rdlbby lsogc tig HCL t`rgd`vg E]L hr`d h``c lfc egvgrlagn`ftlkfgrs. Nlflcl tiks d`fti cgnblrgcE]L t` eg t xkn lfc lff`ufngc pblfst` elf kt kf eley e`ttbgs.^`urng: W^L S`cly

D @UG BLQ^WKS^ K FX@BXKFA X [S@UKF LUG E GKFA H KBGC

Sigrg ilvg sgvgrlb blwsukts hkbgclalkfst Dgrno & N`. lfc plrtfgr ^nigr-kfa-]b`uai N`rp., rgbltgc t` tigkr dlr-ogtkfa `h ni`bgstgr`b crua Xyt`rkf.Lbs`,tig W.^. Cgplrtdgft `h Justkng ks kfvgs-tkaltkfa tig crua dlogrs‛ n`fcunt,lnn`rckfa t` l rgaublt`ry hkbkfa. Sig

Justkng Cgplrtdgft‛s Nkvkb Ckvksk`ff`tkhkgc Dgrno ey wly `h l ^gptgdegr <=ti bgttgr tilt tig Cgplrtdgft ks kfvgs-tkaltkfa wigtigr tig crua dlogrs‛ pr`-d`tk`f `h Xyt`rkf rgsubtgc kf hlbsgnblkds t` hgcgrlb iglbti nlrg pr`arlds.Kh s`, hgcgrlb iglbti pr`arlds n`ubcsggo t` rgn`vgr d`fgy tigy ilvg spgft`f tig crua.

L ar`up `h >7 stltg ltt`rfgys agfgrlblrg j`kftby kfvgstkaltkfa wigtigr tigplrtfgrs vk`bltgc stltg n`fsudgr pr`-tgntk`f blws kf tigkr dlrogtkfa `h

Xyt`rkf, Dgrno rgp`rtgc. Lfc, skfng Jlfulry, Dgrno ils eggf sgrvgc wkti `r

egn`dg lwlrg `h le`ut <3= nkvkb nblssl ntk`f blwsukts lbbgakfa n`fsudgr hrluc nblkds kf n`ffgntk`f wkti tw`ni`bgstgr`b cruas s`bc lfc pr`d`tgcey tig plrtfgrs‛ j`kft vgfturg. ^`dgblwsukts lbbgag pgrs`flb kfjurkgs `r sggo dgcknlb d`fkt`rkfa h`r pg`pbg

wi` usgc tig cruas. Xyt`rkf lfc `fg `h kts n`dp`fgfts,

Zgtkl, ilvg eggf eb`noeustgrs kf tigbunrltkvg ni`bgstgr`b dlrogt, wkti ln`dekfgc $7.5 ekbbk`f kf 5==1 rgvgfug.Eut rgpgltgc elc fgws le`ut tig cruastiks yglr ils nut rgvgfug ey le`ut <7%skfng blst hlbb–tigy er`uait kf `fby ln`dekfgc $<.< ekbbk`f kf tig tikrcqulrtgr–n`ftrkeutkfa t` fgw r`ufcs`h bly`hhs lt e`ti Dgrno lfc ^nigrkfa-]b`uai.Kf Jlfulry, ufcgr prgssurg hr`dN`fargssk`flb kfvgstkalt rs, tig n`dpl-fkgs rgbglsgc rgsubts `h l b`fa-cgblygcstucy si`wkfa tilt tig vgry gxpgfskvg

Xyt`rkf wls f` egttgr lt rgcunkfapblqug eukbcup tilf kts sgn`fc n`dp`-fgft, l agfgrkn ni`bgstgr`b crua nlbbgcZ`n`r n`stkfa le`ut fg-tikrc ls duni.

Si`sg rgvgbltk`fs bgc t` tig kfvgstk-altk fs ey N`fargssk`flb n`ddkttggsls t` wigtigr tig n`dplfkgs cgbkegr-ltgby cgblygc rgbglskfa tig stucy‛srgsubts t` e``st slbgs `h Xyt`rkf lfcZgtkl.Sig n`dplfkgs ilvg cgfkgc tignilrag. Sig kfvgstkaltk`fs lrg egkfan`fcuntgc ey tig ^gfltg Hkflfng N`d-dkttgg lfc tig I`usg N`ddkttgg `f

Gfgray lfc N`ddgrng‛s ^uen`ddkttgg`f @vgrskait lfc Kfvgstkaltk`fs.Sigy ilvg s`uait wktfgss kftgrvkgws, c`nu-dgfts lfc kfh`rdltk`f rgbltgc t` tign`dplfkgs‛ pr`d tk`f `h Xyt rkf, tigcgblygc rgbglsg `h rgsubts `f tig pltkgftstucy, nlbbgc GFILFNG, lfc st`no slbgsey `hhkngrs `h tig n`dplfkgs.

Sig @vgrskait lfc Kfvgstkaltk`fssuen`ddkttgg ils lbs` dlcg rgqugstsh`r c`nudgfts lfc kfh`rdltk`f rgbltgct` lf`tigr pltkgft stucy, nlbbgc ^GL^,tilt bkfogc Xyt`rkf t` l p`sskebg

kfnrglsgc rkso `h vlrk`us nlfngrs lfcsi`wgc kt ckcf‛t prgvgft cgtgrk`rltk`f,suragry `r cglti kf pltkgfts wkti cks-glsgc iglrt vlbvgs, ls tig n`dplfkgsilc i`pgc. Kh y`u fggc d`rg kfh`rdl-tk`f `f Xyt`rkf kssugs, n`ftlnt Hrlfo

Q``cs`f lt 9==-9;9-5=>3.^`urng: H`regs

Q @DLF LQLUCGC $>.8 D KBBK@F K F L^EG^S@^ N L^G

L jury kf Hb`rkcl ils lwlrcgc l $>.8dkbbk`f vgrcknt t` l w`dlf suhhgrkfahr`d l tgrdkflb cksglsg nlusgc ey sgn`fc-ilfc n`ftlnt wkti lsegst`s.Sig71-yglr-`bc w`dlf, Byfcl Clby, wlscklaf`sgc wkti dgs`tigbk`dl blst yglr.^ig n`ftgfcgc tilt tig cksglsg wlsnlusgc ey tig lsegst`s-hkbbgc erlogs lt l

Qksn`fskf H`rc cglbgrsikp wigrg sig w`rogc curkfa tig <;1=s.^ig lbs` dly ilvg kfagstgc tig lsegst`s egnlusg igr iuselfc, Dknilgb, ckc erlog-rgplkr j`eslt tigkr i`dg. I`wgvgr, Dknilgb Clby ils ilc f` n`dpbknltk`fs hr`dlsegst`s cgspktg egkfa kf ckrgnt n`ftlnt

wkti lsegst`s erlogs.Sig jur`rs n`fnbucgc H`rc D`t`r N`.

wls rgsp`fskebg h`r Drs. Clby‛s n`fck-tk f, wikni ks egkfa trgltgc ey nigd`tigrlpy. Dgs`tigbk`dl usulbby okbbs kts vkntkds wktikf tw` yglrs `h ktscgtgntk`f. Sig nlsg ks bkogby t` eglppglbgc. Julf Elutl, l blwygr hr`dN`rlb Alebgs, Hb`rkcl, rgprgsgftgc tigClby hldkby lfc ckc l vgry a``c j`e.^`urng: Dkldk Igrlbc

YKK.EW^KFG^^BKSKALSK@F

C K^N@XGU U GLNIG^ $5.17 E KBBK@F ^ GSSBGDGFS Q KSI X K^L LFC D L^SGU N LUC

Cksn`vgr Hkflfnklb ^grvkngs ilssgttbgc kts blwsukt hkbgc lalkfst Xksl Kfn.lfc DlstgrNlrc Kfn.Sig blwsukt s`uaitcldlags h`r prlntkngs tilt supprgssgctikrc-plrty kssukfa `f tig Cksn`vgr Fgtw`ro lfc tig lnngptlfng `h ktsnlrcs. Wfcgr tig tgrds `h tig sgttbg-dgft larggdgft,Cksn`vgr wkbb rgngkvg

up t` $5.17 ekbbk`f hr`d Xksl lfc Dls-tgrNlrc. Cksn`vgr wkbb rgngkvg lppr`xk-dltgby $985 dkbbk`f `h tig sgttbgdgftkf tig nurrgft hksnlb qulrtgr lfc up t`lppr`xkdltgby $315 dkbbk`f pgr qulrtgr kf 5==;.

Xksl ks rgsp`fskebg h r $<.9917 ekbbk`f`h tig sgttbgdgft ld`uft. DlstgrNlrc

wkbb ply $985.7 dkbbk`f rghbgntkfa tigtgrds `h l jucadgft-silrkfa larggdgft

wkti Xksl tilt wls hkflbkzgc kf Juby,

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5==9. Kf lccktk`f, kf n`ffgntk f wkti tig sgttbgdgft, D`ralf ^tlfbgy, Cks-n`vgr‛s h`rdgr plrgft n`dplfy, larggct` ply DlstgrNlrc $>7 dkbbk`f.

Cksn`vgr slys tig sgttbgdgft wkbbhurtigr ‒strgfatigf kts nlpktlb elsg kftiks nilbbgfakfa gn`f`dy—lfc lbs` wkbb‒supp`rt n`ftkfugc kfvgstdgft— kfar`wkfa kts euskfgss, kfnbuckfa er`lc-

gfkfa ab`elb lnngptlfng, gxplfckfafgtw`ro v`budg lfc ar`wkfa kts‒cgp`skt hrlfniksg.—Siks bktkaltk`f ilceggf lr`ufc h`r l wikbg lfc ks hkflbby `vgr wkti l wkf h`r Cksn`vgr. Bb`ycN`fstlftkfg, l Fgw [ ro blwygr,ilfcbgc tiks bktkaltk`f lfc ckc ltrgdgfc`us j`e.^`urng: ]lydgfts Fgws

J WU[ U GSWUF^ X GUCKNS K F S ULCG ^ GNUGS^ N L^G

L nigdknlb gxpgrt wi` nrgltgc ldgti`c `h trlfsh`rdkfa ngrtlkf ilz-lrc`us kfcustrklb wlstgs kft` bunrltkvgdlfuhlnturkfa kfargckgfts, `fby t` ilvgiks kcgl st`bgf, wls lwlrcgc l $<;5dkbbk`f vgrcknt rgngftby ey l D`ekbgN`ufty jury. Sig n`dpgfslt`ry cldlags vgrcknt wls kf hlv`r `h Cr.^vgf ]gtgr Dlffshgbc lfc lalkfst Kfg`s

Ldgrknls BBN lfc Kfg`s ]igf`b. Kfg`s Ldgrknls BBN, l Agrdlf-elsgcn`dplfy `wfgc ey Kfg`s ]igf`b,

`wfs l nigdknlb pblft kf Sig`c`rg.Sig$<;5 dkbbk`f lwlrc wls tig pr`jgntgcpr`hkt tig Sig`c rg pblft lb`fg ksgxpgntgc dlog kft` tig yglr 5=57.

Sig ]blkftkhh cgvgb`pgc l n`fngpt kftig bltg <;;=s, f`t b fa egh`rg igrgtkrgc hr`d tig nigdknlb hkgbc,tir`uai

wikni ilzlrc`us wlstg dltgrklbs lrgusgc ls eukbckfa pr`cunts kf tig dlfu-hlnturg `h ktgds suni ls tkrgs.Kf 5==3,Cr. Dlffshgbc bglrfgc tilt tig Cghgf-clfts wgrg uskfa iks kcgl lfc ilc gvgfcgvksgc pltgfts h`r tig pr`ngss kf

Agrdlfy, Egbakud, tig Gur`pglf Wfk`flfc tig Wfktgc tltgs. Ig hkbgc sukt kf Jufg 5==8. ^okp Hkfoe`ffgr lfc E`e`Nuffkfaild, wi` lrg vgry a` cblwygrs hr`d D`ekbg, rgprgsgftgc tig]blkftkhh lfc ckc lf `utstlfckfa j`e.^`urng: D`ekbg ]rgss Ugakstgr

I GLBSI ^ @WSI BLQ^WKS Q KSI K FXG^SDGFS E LFO ^ GSSBGC

Iglbti^ uti N`rp. ils sgttbgc kts nlsglalkfst lf kfvgstdgft elfo lfc wkbbrgngkvg $<>> dkbbk`f. Sig kfvgstdgftelfo ks lnnusgc `h lkckfa l dlsskvg n`r-p`rltg hrluc lt tig Ekrdkfaild-elsgcn`dplfy. WE^, lf kfvgstdgft elfo tilts`bc silrgs lfc e`fcs `h tig piysknlbtigrlpy n`dplfy t kfvgst`rs, wkbb ply $<== dkbbk`f nlsi lfc h`rakvg $>>dkbbk`f kt wls `wgc ey Iglbti^`uti.Sig larggdgft sgttbgs tig WE^ p`rtk`f`h l blwsukt hkbgc lalkfst tig elfo,`tigr Iglbti^`uti lcvksgrs lfc Uknilrc^nrusiy. Kt wls lbbgagc kf tig sukt tiltWE^ kfvgstdgft elfogrs ofgw Iglbti-^`uti hlogc kts e``os t` tig tufg `h $5.8 ekbbk`f hr`d <;;8 tir`uai 5==5 t`e``st pr`hkts lfc trkaagr pgrh`rdlfnge`fusgs h r t`p gxgnutkvgs. WE^ lfl-bysts gftiusklstknlbby rgn`ddgfcgctilt kfvgst`rs euy Iglbti^`uti silrgs

wkti of`wbgcag tilt tig st`no wlsegkfa pr`ppgc up ey pi`fy fudegrs.

Sig nlsg egalf kf 5==5, wigf silrg-i`bcgr Qlcg Sunogr sugc ^nrusiy, WE^,luckt`r Grfst & [`ufa lfc `tigrs,nblkdkfa tigkr lntk`fs ilrdgc tign`dplfy.Sig lntk`f wls l cgrkvltkvgblwsukt hkbgc ey tig ]blkftkhh `f egilbh `h Iglbti^`uti. Sig nblkds lalkfst^nrusiy lrg sgt h`r trklb kf Jlfulry lfctig p`rtk`f `h tig nlsg lalkfst Grfst &

[ ufa ks stkbb pgfckfa. D`rg tilf lc`zgf h`rdgr Iglbti^`uti gdpb`yggslfc gxgnutkvgs pbglcgc aukbty t` hlokfapr`hkts, lssgts lfc nlsi elblfngs lhtgr pr`sgnut`rs nb`sgc kf.Sig Iglbti^`uti hrluc nut tig n`dplfy‛s silrgs ey d`rg tilf ;=%, t` bgss tilf <= ngftsglni, lhtgr kt wls puebknkzgc. Sign`dplfy lnof`wbgcagc elforuptny

wls l tirglt, lfc tgfs `h dkbbk`fs `h c`bblrs wgrg spgft t` rgn`fstrunt tighkflfnklb e``os. Sig $<>> dkbbk`frgn`vgry rgprgsgfts le`ut 5=% `h

Iglbti^`uti‛s 5==1 pr`hkt, wikni wls$87> dkbbk`f.Wfcgr tig tgrds `h lf glrbkgr sgttbg-

dgft Iglbti^`uti rglnigc wkti kfvgst`rs wi` hkbgc l nblss lntk`fblwsukt, 57% `h tig WE^ sgttbgdgft pr`-nggcs wkbb a` t` tig nblss dgdegrs.Sigrgst wkbb a` t` ply c`wf Iglbti^`uti cget. Duni `h tilt cget wls tlogf `utufcgr ^nrusiy t` ply h`r lnquksktk`fs.Si`sg lnquksktk`fs, tig a`vgrfdgft

slkc curkfa tig nrkdkflb trklb, wgrgdgrgby sd`ogsnrggfs cgskafgc t` ikcgtig hrluc. H`rdgr ^uprgdg N`urt

Justkng Ulbpi N``o, lsskstgc ey J`ifIlbgy,e`ti hr`d tig Ilrg,Qyff hkrd kfEkrdkfaild, rgprgsgftgc Iglbti^`uti kf tiks nlsg lfc ckc l vgry a``c j`e.^`urng: Ekrdkfaild Fgws

LWSI@U^ LFC ] WEBK^IGU^ ^ GSSBG ^ WKS LALKF^S A @@ABG

L sgttbgdgft ils eggf rglnigc kf lblwsukt lalkfst A``abg `vgr tig Kftgr-fgt sglrni gfakfg‛s usg `h n`pyrkaitgcdltgrklb. Lnn`rckfa t` l stltgdgft ey tig Luti`rs Aukbc, tig Lss`nkltk`f `h

Ldgrknlf ]uebksigrs lfc A``abg, tiglarggdgft ‒wkbb gxplfc `fbkfg lnngsst` dkbbk`fs `h kf-n`pyrkait e``os lfc`tigr wrkttgf dltgrklbs kf tig W.^. hr`dtig n`bbgntk`fs `h l fudegr `h dlj`r W.^. bkerlrkgs plrtknkpltkfa kf A``abgE``o ^glrni.— Kh lppr`vgc ey l hgcgrlbn`urt kf Dlfilttlf, tig sgttbgdgft wkbbgfc tig blwsukt hkbgc lalkfst A``abgtw` yglrs la`.Siks bktkaltk`f ils eggfnb`sgby h`bb`wgc ey tig puebksikfakfcustry ls kt cgeltgs i`w n`pyrkaitblw si`ubc w`ro `fbkfg.

Wfcgr tig A``abg ]rkft Bkerlry ]r`jgnt, dkbbk`fs `h n`pyrkaitgc e``oslrg t` eg kfcgxgc `f tig Kftgrfgt.A``abg ils nlbbgc tig pr`jgnt lf kfvlbu-

lebg nilfng h`r e``os t` rgngkvgkfnrglsgc gxp`surg. Eut kf tig blwsukthkbgc kf 5==7 kf W.^. Ckstrknt N`urt kfDlfilttlf, tig puebksigrs lss`nkltk`fnktgc tig ‒n`ftkfukfa, krrgplrlebg lfckddkfgft ilrd puebksigrs lrg suhhgr-kfa ... cug t` A``abg‛s wkbbhub (n`py-rkait) kfhrkfagdgft t` hurtigr kts `wfn`ddgrnklb purp`sgs.—^`urng: Lss`nkltgc ]rgss

J WU[ ^ L[^ E @GKFA D W^S ] L[ $>1= D KBBK@

K F BLQ^WKS

L jury ils `rcgrgc E`gkfa N`.‛s sltgb-bktg ckvksk`f t` ply lt bglst $>1= dkbbk`fh`r erglnikfa l n`ftrlnt t` eukbc lfcblufni sltgbbktgs h`r l n`ddufknltk`fsn`dplfy iglcgc ey ngbbublr pi`fgpk`fggr Nrlka DnNlw. Sig cgnksk`fnldg lhtgr l h`ur-wggo trklb kf wikni KN@ Ab`elb N`ddufknltk`fs I`bckfasBtc. lnnusgc tig lgr`splng aklft `h

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trykfa t` iurt kts pr`p`sgc sltgbbktgfgtw`ro ey hrlucubgftby rlkskfa prkngsh`r tig pr jgnt. Sig jury `rcgrgc tigsltgbbktg sueskcklry t` ply $>1=.8dkbbk f t` KN@, wikbg tig plrgftn`dplfy wls `rcgrgc t` ply $;<.8dkbbk`f.Sig kfktklb lwlrc ckcf‛t kfnbucgpufktkvg cldlags. E`gkfa wkbb lppglbtig vgrcknt.

Sig blwsukt, hkbgc kf 5==3 kf B`s Lfagbgs N`ufty ^upgrk`r N`urt, stgdshr`d KN@‛s cgnlcg-`bc pblf t` blufni lhbggt `h sltgbbktgs tilt w`ubc pr`vkcgd`ekbg tgbgpi`fg lfc Kftgrfgt sgrvkng.KN@, elsgc kf Ugst`f, XL, n`ftrlntgc

wkti Gb ^gaufc`-elsgc Iuaigs Gbgntr f-kns N`rp. kf tig dkc-<;;=s t` eukbc lfcblufni <5 sltgbbktgs. E`gkfa lnqukrgcIuaigs kf 5=== lfc kfigrktgc tig n`f-trlnt wkti KN@, eut `fby tw` sltgbbktgs

wgrg hkfksigc–`fg `h wikni wls b`stcug t` l hlkburg le`lrc l E`gkfa ^gl

Blufni r`nogt tig sldg yglr.KN@ sugc E`gkfa lfc kts sltgbbktg ckvk-sk`f h`ur yglrs bltgr h`r erglni `h n`f-trlnt lhtgr E`gkfa lbbgagcby cgdlfcgcKN@ ply lf`tigr $3== dkbbk`f t` hkfksi tig j`e. N`sts `h pr cunkfa tig sltgb-bktgs kfnrglsgc ls KN@ trkgc t` cgbly tigpr`jgnt curkfa l dlj`r sbudp kf tigtgbgn`ddufknltk`fs sgnt`r. KN@ s`uaitufspgnkhkgc pufktkvg cldlags lfclr`ufc $<.7 ekbbk`f kf lntulb cldlags,pbus kftgrgst.KN@ n`ftgfcgc tilt `fngE`gkfa a`t kft` tig sltgbbktg n`ddufk-

nltk`fs euskfgss, kts h`rdgr nust`dgr egnldg l n`dpgtkt`r. E`gkfa nblkdgc ktlttgdptgc t` oggp tig cglb lbkvg lfclnnusgc KN@ `h nlfngbkfa tig n`ftrlnth`r n`fvgfkgfng. Sig jury h`ufc tiltKN@ wls tig a``c auy kf tiks euskfgss-rgbltgc elttbg.^`urng: Lss`nkltgc ]rgss

YKKK.KF^WULFNG LFC

HKFLFNG W]CLSG

HCKN N @WBC E GN@DG H GCGULB K F^WULFNG U GAWBLS@U

Sig p`wgrs `h tig Hgcgrlb Cgp`sktKfsurlfng N`rp. n`ubc eg gxplfcgc kh N`fargss sggs hkt t` sikht kfsurlfngn`dplfkgs hr`d stltg rgaubltk`f t`hgcgrlb rgaubltk`f.Sig HCKN n`ubc tigf

stlrt pr`vkckfa aulrlftggs h`r kfsur-l fng n`dplfkgs, duni bkog kt lbrglcy aulrlftggs tig cgp`skts `h d`st W.^.elfos. I`wgvgr, kt w`ubc tlog puttkfatig kfsurlfng kfcustry ufcgr hgcgrlbrgaubltk`f. Ls wg lbb of`w, kfsurlfngn`dplfkgs lrg nurrgftby rgaubltgc ey kfckvkculb stltgs.^`urng: Ugutgrs

X GUD@FS H KFLBB[ A GS^ $5=7 D KBBK@F H U@D H LKBGC LDEL^^LC@U K F^WULFNG

Sig stltg `h Xgrd`ft ils rgngkvgc$5=7 dkbbk`f kf l blwsukt lalkfstlnn`ufts h`r lf kfsurlfng n`dplfy tilt wgft elforupt l qulrtgr ngftury la` bglvkfa le`ut 5=,=== pg`pbg kfsgvgrlb stltgs wkti `utstlfckfa nblkds.Siks plydgft wkbb erkfa t` l nb`sg lb`fa-ruffkfa elttbg ey stltg rgaublt`rst` n`bbgnt hr`d ]rkngQltgri`usgN``p-grs, tig lnn`uftkfa hkrd h`r tig cghufnt

Ldelsslc`r Kfsurlfng N`. ]lubgttgSilelubt, n`ddkssk`fgr `h Xgrd`ft‛sCgplrtdgft `h Elfokfa, Kfsurlfng,^gnurktkgs lfc Iglbti Nlrg Lcdkfkstrl-tk`f,`esgrvgc:

Nblkdlfts si`ubc of`w tilt tigb`fa wlkt ks fglrby vgr, lfc tilt wg gxpgnt t` eg lebg t` hubby plynblkds ey kfsurgcs lfc p`bkny- i`bcgrs, wkti kftgrgst.

Ldelsslc r, wikni wls kfn`rp rltgckf Xgrd`ft eut iglcqulrtgrgc kf Fgw Jgrsgy, `pgrltgc kf sgvgf stltgs. Kt ilcle`ut 1,=== p`bknyi`bcgrs kf Xgrd`ft

wigf kt wgft elforupt kf <;9>. Xgr-d`ftgrs plkc $>.7 dkbbk`f kf prgdkudst` Ldelsslc`r kf 5==5, kts blst hubb yglr kf euskfgss. Kt‛s f`t nbglr i`w dlfy kfckvkculb Xgrd`ftgrs wkbb silrg kf tig$5=7 dkbbk`f, eut tig fudegr wkbb egsdlbb. Nblkdlfts lbrglcy ilvg rgngkvgc98% `h tig d`fgy tigy wgrg `wgcufcgr sgttbgdgfts rglnigc sgvgrlb

yglrs la`,wkti `tigr Cghgfclfts. ^`dg`h tig $5=7 dkbbk`f wkbb a` t` aulrlfty lfc rgkfsurlfng hufcs.^`urng: Kfsurlfng J`urflb

F @USIQG^SGUF D WSWLB ^ GSSBG^ BLQ^WKS

F`rtiwgstgrf Dutulb Bkhg KfsurlfngN`. ils larggc t` sgttbg l nblss lntk`fblwsukt h r up t` $;5 dkbbk f. Sig

blwsukt lnnusgc F`rtiwgstgrf Dutulb`h hlkbkfa t` ply ckvkcgfcs `f ngrtlkftgrd bkhg p`bknkgs lfc uskfa kdpr`pgr slbgs lfc dlrogtkfa prlntkngs. Sigblwsukt wls hkbgc h`ur yglrs la` ey lnust`dgr kf Nlbkh`rfkl wi` slkc tigkfsurgr‛s slbgs dltgrklbs dksbgc ikdle`ut wigtigr ckvkcgfcs w`ubc egplkc `f tgrd bkhg lfc ckslekbkty kfsur-

lfng.Sig pr`p`sgc sgttbgdgft n`vgrsle`ut <.> dkbbk`f nurrgft lfc <.8dkbbk`f h`rdgr p`bkny `wfgrs wi`ilvg purnilsgc tgrd bkhg `r ckslekbkty n`vgrlag skfng <;9<.^`urng: Lss`nkltgc ]rgss

LXKXL ^ GSSBG^ LFFWKS[ BLQ^WKS

LvkvlW^L ils sgttbgc l blwsukter`uait ey tig Dkffgs`tl Ltt`rfgy Agfgrlb tilt lbbgagc tig n`dplfy s`bc

ufsuktlebg b`fa-tgrd cghgrrgc lffuktkgst` sgfk`r nktkzgfs. LdgrWs Bkhg Kfsur-lfng N`. lfc Ldgrknlf Kfvgst`rs BkhgKfsurlfng N`., wikni wgrg e`uait ey

LvkvlW^L kf 5==8, wgrg nilragc ey Dkffgs`tl Ltt`rfgy Agfgrlb B`rk^wlfs`f wkti dksrgprgsgftkfa `r hlkbkfa t` cksnb`sg tgrds `h tigsg lffu-ktkgs. Cgs D`kfgs-elsgc LvkvlW^L ks tigfltk`f‛s blragst sgbbgr `h gqukty-kfcgxgccghgrrgc lffuktkgs.

Sig sgttbgdgft, wikni ils eggflppr`vgc ey l Dkffgs`tl stltg n`urt

jucag, rgqukrgs Lvkvl t` rghufc le`ut3,7== p`bknkgs dlcg t` Dkffgs`tlsgfk`rs.Sig p`bknkgs ilvg lf gstkdltgc

vlbug `h $57= dkbbk`f. Sig Dkffgs`tl Ltt`rfgy Agfgrlb prgvk`usby rglnigcskdkblr sgttbgdgfts wkti Lbbklfz BkhgKfsurlfng N`. lfc Ldgrknlf Gqukty Kfvgstdgft Bkhg Kfsurlfng N`. `h QgstCgs D`kfgs.Sigrg ks l h`urti blwsuktlalkfst Dkcblfc Fltk`flb Bkhg KfsurlfngN`.pgfckfa kf l Dkffgs`tl n`urt.

Dkffgs`tl n`fsudgrs wi` wgrg lag87 `r `bcgr lfc ilc e`uait l cghgrrgc

lffukty hr`d Lvkvl/LdgrWs egtwggf Jlfulry <, 5==< lfc @nt`egr 55, 5==9,nlf hkbg l nblkd h`r l hubb rghufc,kfnbuc-kfa kftgrgst,wkti`ut pgflbty.Ugbltkfa t`tig sgttbgdgft, Ltt rfgy Agfgrlb^wlfs`f slkc kf l stltgdgft:

K ld pbglsgc tilt…wg ilvg eggflebg t` `etlkf rghufcs h`r Lvkvl‛s

p`bknyi`bcgrs, gspgnklbby curkfa tigsg t`uai gn`f`dkn tkdgswigrg dlfy sgfk`rs `f l hkxgc

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kfn`dg lrg sggkfa tigkr gxpgfsgs soyr`nogt.

Wfcgr tig sgttbgdgft,Lvkvl larggc t`‒rgqugst lfc `etlkf lccktk`flb kfh`rdl-tk`f hr`d n`fsudgrs tilt ks fgngsslry t` dlog l suktlekbkty cgtgrdkfltk`f.—Siks wkbb kfnbucg n`bbgntkfa d`ftiby kfn`dg,bkvkfa gxpgfsgs lfc cksp`slebgkfn`dg, ls wgbb ls bkqukc lssgts lfclftknkpltgc nilfags kf lfy `h tigsglrgls.Lvkvl wkbb lbs` n`fcunt lf lcck-tk`flb rgvkgw `h tig suktlekbkty `h tigpr`cunts h`r n`fsudgrs 87 yglrs `h lag`r `bcgr.Ls plrt `h tig sgttbgdgft,Lvk-

vlW^L lbs` larggc t` ply tig stltg `h Dkffgs`tl $>17,=== t` rgkdeursggxpgfsgs. Kh y`u wlft d`rg kfh`rdl-tk`f `f tig Lvkvl bktkaltk`f n`ftlnt Jly

Luaitdlf lt 9==-9;9-5=>3 `r ey g-dlkblt Jly.LuaitdlfMeglsbgylbbgf.n`d.^`urng: Cgs D`kfgs Ugakstgr

YKX.]UGCLS@U[BGFCKFA

C GNG]SKXG S LNSKN^ LFC ] UGCLS@U[ ] ULNSKNG^ U GJGNSGC K F @ IK@ LFC LUKZ@FL

H`rtufltgby, @ik` lfc Lrkz`fl v`tgrsslw tir uai tig cgngptk f `h tigplycly bgfckfa kfcustry lt tig elbb`te`x `f F`vgdegr 3 ti lfc v`tgc t`rgjgnt plycly bgfckfa kf tigkr stltgs.Sig trlcg ar`up h`r tig plycly bgfcgrsusgc ckrty trknos lfc dksbglckfa lcvgr-tkskfa trykfa t` oggp prgclt`ry >;<%lffulb kftgrgst rltgs bgalb h`r plycly b`lfs. Elbb`t pr`p`sktk`fs kfktkltgc ey tig kfcustry, supp`rtgc ey `vgr $>=dkbbk`f hr`d kts trlcg ar`up, lfc hgltur-kfa dglsurgs tilt w`ubc dlog bgalb ktsprgclt`ry prlntkngs,suhhgrgc cghglts kfe`ti stltgs. H`rtufltgby, v`tgrs rgn`a-

fkzgc tig cgngptk f kf tig kfcustry lfckts lcvgrtkskfa. ]lycly bgfckfa ks lf$97 ekbbk`f kfcustry lfc kt ks p`bktknlbby p`wgrhub.

]lycly bgfcgrs `utspgft tig @ik`arlssr``ts n`lbktk`f ey `vgr 8= t` `fg,lfc stkbb b`st ey l tw` t` `fg dlrakf kftig v`tg.Kf Lrkz`fl, tig arlssr` ts nld-plkaf wls `utspgft le`ut ;= t` `fg.Wrkli Okfa, p`bkny lss`nkltg h`r Ngftgr h`r Ugsp`fskebg Bgfckfa,`esgrvgc:

Sigsg tw` nktkzgfs elbb`ts lrgrglbby l dlfcltg h`r nrlnokfa c`wf `f plycly bgfckfa tir`uai- `ut tig fltk`f. [ u nlf agt f`nbglrgr dgsslag tilf l iuagdlj`rkty `h v`tgrs rgjgntkfa 3==%kftgrgst b`lfs. L rgls`flebg tw`- ckakt nlp ks sgfskebg, hlkr, lfc kt w`ros t` oggp elc lppbgs `ut `h tig n`fsudgr bgfckfa lrgfl.

N`deltkfa dkbbk`fs `h c`bblrs `h cgngptkvg lcvgrtkskfa, spkrktgc arlss-r``ts nldplkafs kf glni stltg t``o `f lfltk`flb kfcustry tilt cgpgfcs `fdlokfa ikai-kftgrgst b`lfs rgpgltgcby t` nust`dgrs wi` nlff`t lhh`rc t` ply tigd `hh h`r a``c. ]lycly b`lfs lrg sys-tgdltknlbby n`fvgrtgc kft` b`fa-tgrd,ikai-n`st cget h`r w`rokfa hldkbkgs.Siglvgrlag plycly e`rr`wgr ils d`rgtilf gkait trlfslntk`fs pgr yglr,n`stkfatigd d`rg kf kftgrgst tilf tig `rkakflbb`lf. N`fargss plssgc l >8% nlp pr`-tgntkfa dkbktlry hldkbkgs hr`d tiks prln-tkng, lfc <7 stltgs lfc tig Ckstrknt `h N`budekl ilvg ni`sgf t` n`ftr`bprgclt`ry bgfckfa ey gfh`rnkfa kftgrgstrltgs kf tilt rlfag.

Sig hlkburg `h tig plycly kfcustry t`nkrnudvgft tig ghh`rts `h stltg blwdlo-grs kf @ik` lfc Lrkz`fl ks nbglr gvk-cgfng tilt nktkzgfs wkbb nrlno c`wf `fkrrgsp`fskebg bgfckfa prlntkngs,kh akvgftig `pp`rtufkty. Kt lbs` slys tilt pg`pbglrg nltnikfa `f t tig cgngptkvg prln-tkngs `h tig kfcustry.Silt‛s a``c fgws!

]lycly bgfckfa ks kbbgalb kf <7 stltgstilfos kf plr t t` l wlvg `h bgfckfablws plssgc skfng 5==<. Sig hgcgrlba`vgrfdgft ils nlppgc kftgrgst rltgs`f b`lfs dlcg t` dkbktlry hldkbkgs, eutgvgrye`cy gbsg ks hlkr aldg h`r tigsg

vubturgs. ^gvgrlb nktkgs ilvg usgcz`fkfa nilfags t` bkdkt tig fudegr `h bgfcgrs, gspgnklbby kf b`w-kfn`dgfgkaie`ri``cs. ]lycly bgfcgrs h`uaitelno wkti tig elbb`t dglsurgs.

]lycly kfcustry bgfcgrs prgy `f tigsldg b`w-kfn`dg lfc d`cgrltg-kfn`dghldkbkgs tilt t``o `ut sueprkdg i`dgb`lfs. @fng tigsg b`lf silros agt l i bc`f l nust`dgr tigy fgvgr bgt a`.H`boslrg stkbb plykfa `hh tig prkfnkplb `f tigkr b`lfs, pbus iufcrgcs `h c`bblrs kf hggs,

yglrs lhtgr tlokfa ut tigkr b lfs.^`urng: Krrgsp`fskebgBgfckfa.n`d

A @XGUFDGFS^ LS G XGU[ BGXGB ^ I@WBC H KAIS ] UGCLS@U[ BGFCGU^

L fltk`fwkcg n`lbktk`f `h n`fsudgr ar`ups rgngftby ilfcgc `ut kts arlcgs`f i`w wgbb stltgs pr`tgnt n`fsudgrs.Wfh`rtufltgby,Lbleldl rgngkvgc tirggHs `f tig ^dlbb C`bblr B`lf ]r`cunts^n`rgnlrc kssugc ey tig N`fsudgrsWfk`f, Fltk`flb N`fsudgr Blw Ngftgr lfc tig N`fsudgr Hgcgrltk`f `h

Ldgrknl. Sig rgp`rt nlrc pblngs Lbleldl fglr tig e tt`d h lbb stltgs kfpr`tgntkfa nktkzgfs hr`d prgclt`ry bgfckfa prlntkngs lfc tilt‛s t`tlbby uflnngptlebg.

Lbleldl‛s b`w dlros rghbgnt `ur gxtrgdg kftgrgst rltgs `f l vlrkgty `h b`lf pr`cunts.L 5==> blw lbb`ws hggs`f plycly bgfckfa tilt nlf rglni lflffulbkzgc pgrngftlag rltg `h 377%.Wfcgr tig Lbleldl ]lwfsi`p Lnt,bgfcgrs nlf nilrag lf L]U `h >==% `fl si`rt-tgrd lut` tktbg b`lf.Sig stltgn`dplrks`fs kf tig rgp`rt nlrc lrg gyg-`pgfkfa. Qikbg Lbleldl bgts hrkfagbgfckfa pr`bkhgrltg, Lrolfsls ks e`bcby nurtlkbkfa suni hkflfnklb gxpb`ktltk`f.Fgkaie`rkfa Ag`rakl ils lbs` eggfprlksgc h`r 5==> lntk`f ey kts bgaksbl-turg t` nrlno c`wf f plycly bgfcgrs.

Kfstglc `h skfokfa t` tig e`tt`d `h n`fsudgr pr`tgntk`f rgp`rt nlrcs,

Lbleldl si`ubc tlog bgaksbltkvg lntk`ft` agt rkc `h tigsg silcy `pgrltk`fs.

Lbleldl Lrksg dlcg l a``c p`kft wigfkt lsogc:‒Qiy ils `ur b`fa-ruffkfastltgwkcg n`fvgrsltk`f le`ut gn`-f`dkn ar`wti f`t bgc t` suestlftklbnures `f silcy b`lf prlntkngs0—Ldkc lbbtig strltgakn tlbo le`ut igbpkfa tiggn`f`dy, t`` hgw `h Lbleldl‛s bglcgrsilvg eggf wkbbkfa t` lnof`wbgcag tiltleuskvg bgfckfa lfc gxngsskvg b`lf hggsnlusg n`fsudgrs t` eg trlppgc kf cgetnynbgs, rgcunkfa rgs`urngs tilt n`ubceg spgft `f rglb a `cs, slvgc, `r kfvgstgc.

Ldektk`us pr`p`slbs h`r e``stkfa Lbleldl‛s gn`f`dy lrg egkfa ufcgr-dkfgc ey tig nrusikfa kdplnt `h cget`f ti`uslfcs `h n`fsudgrs slccbgc

wkti ikai-kftgrgst b`lfs. Kt ks lbs` pgr-pbgxkfa tilt dlfy `h `ur bglcgrs, wi`sly tig Ekebg aukcgs tigkr vkgws `fpuebkn p`bkny, ilvgf‛t rlksgc d`rlb`ejgntk`fs t` tig usury `h prgclt`ry bgfckfa.L pgrs`f fggc f`t eg blegbgc‒lftk-euskfgss— h`r supp`rtkfa rgls`f-

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lebg ar`ufc rubgs lfc rgstrkntk`fs `fbgfckfa prlntkngs tilt gxpb`kt b`w-kfn`dg w`rogrs. Qilt tigsg bgfcgrslrg c`kfa ks d`rlbby wr fa. Kt si`ubclbs` eg kbbgalb t` gxpb`kt tig p``r kftiks dlffgr.

Lbleldklfs lrg lbs` str`fa elnogrs `h tig dkbktlry.[gt wiy ckc N`fargss ilvgt` stgp kf t` pr`tgnt sgrvkng dgdegrs

kf `ur stltg hr`d tig plycly b`lf kfcus-try0 ^urgby d`st Lbleldklfs w`ubclargg tilt gflntkfa tiks p`bkny wls la``c lfc fgngsslry stgp, fggcgc t`pr`tgnt dgdegrs `h `ur dkbktlry hr`dhkflfnklb gxpb`ktltk`f. Lbleldl Lrksglsos:‒C`f‛t nkvkbklfs cgsgrvg tig sldgpr`tgntk`f0— Kh lf kftgrgst rltg nlp ksa``c h`r lntkvg-cuty sgrvkng dgdegrs,kt `uait t` eg a``c h`r gvgry`fg gbsg ls

wgbb. Kt‛s tkdg h`r tig Lbleldl Bgaksbl-turg t` agt kfv`bvgc kf tiks hkait.SigBgaksblturg si`ubc pursug tig elsgbkfg

rgh`rds egkfa plssgc kf `tigr stltgs:• l elf f rgfgwlbs?

• nlps `f tig fudegr `h b lfs tilt nlfeg `utstlfckfa lt lfy `fg tkdg?

• dlfclt`ry lfc n`ftr`bbgc plydgftpblfs?lfc

• kftgr`pgrlebg cltlelsgs t` dlog surgtilt n`fsudgrs lrgf‛t skdubtlfg`usby tlokfa `f gxngsskvg cget hr`d dubtk-pbg b`lf pr`vkcgrs.

Lbti`uai gvkcgfng si`ws tilt tigsgrgh`rds dly eg bkdktgc kf ghhgntkvg-fgss, tigy lrg ngrtlkfby egttgr tilf ur nurrgft f`-i`bcs-elrrgc p`bkny. Sigd`st kdp`rtlft rgh`rd `h lbb w`ubc egt` nlp tig dlxkdud p`sskebg kftgrgstrltg `f tigsg b`lfs.

Kf kts ‒^prkfakfa tig Cget Srlp—rgp rt, tig Ngftgr h`r Ugsp`fskebgBgfckfa gstkdltgs tilt rgskcgfts `h tig<5 stltgs (pbus tig Ckstrknt `h N`bud-ekl) tilt ilvg `utblwgc trkpbg-ckaktkftgrgst slvg fglrby $<.7 ekbbk`f glni

yglr kf prgclt`ry bgfckfa hggs. Silthkaurg rgprgsgfts sgrk`us d`fgy tiltn`ubc stkdubltg `ur gn`f`dy kf d`rgusghub wlys.Qkti tig gn`f`dy kf cggptr`uebg, f`w ks tig pgrhgnt tkdg h`r

Lbleldklfs t` tlog l stlfc lalkfsttrkpbg-ckakt kftgrgst rltgs, n`b`sslb hggslfc `tigr ufslv`ry kfcustry prlntkngs.

Lbleldl si`ubc n`fhr`ft tig p`wgrhubprgclt`ry b`lf kfcustry egnlusg kt‛s tigrkait tikfa t` c` lfc egnlusg kt wkbb

rgsubt kf l d`rg pr`spgr`us p`publ-tk`f–l cgvgb`pdgft tilt w`ubcargltby egfghkt us lbb.^`urng: Lbleldl Lss`nkltk f H`r Justkng

YX.]UGDK^G^

BKLEKBKS[ W]CLSG

C GLSI^ @ F E UKCAG ] U@JGNS K F B@WK^KLFL

N`fstruntk`f `h tig $9=> dkbbk`fKftgrstltg <= erkcags tilt splf Blog]`ftnilrtrlkf kf glstgrf Fgw @rbglfs

wls nlbbgc `hh lhtgr l n`fnrgtg egldhgbb, cudpkfa tgf dgf kft` tig wltgr,okbbkfa `fg `h tigd. Sig B`uksklflCgplrtdgft `h Srlfsp`rtltk`f lfcCgvgb`pdgft st`ppgc tig w`ro uftkb

tig cgplrtdgft rgngkvgs l slhgty pblfhr`d E`i Er`tigrs, tig n`ftrlnt`r h`r tig pr`jgnt. E`i Er`tigrs ks w`rokfa

wkti vlrk`us rgaublt`ry lagfnkgs t`cgtgrdkfg wilt nlusgc tig lnnkcgft.Sig n`dplfy t`bc tig Lss`nkltgc ]rgsstilt kts kfktklb lssgssdgft kfcknltgs tiltpr`pgr slhgty pr`ngcurgs wgrg h`b-b`wgc.Sig dlf okbbgc wls tig h`rgdlf`h tig nrgw, lf <<-yglr gdpb`ygg hr`d^gbdl,Lbleldl.^`urng: Lss`nkltgc ]rgss

N @FNUGSG -S G^SKFA H KUD K ^ LNNW^GC @ H Q U@FAC@KFA @ F S G^S^

N`fnrgtg tilt wls p`urgc `vgr tigplst cgnlcg lt d`rg tilf <== n`fstrun-tk`f pr`jgnts lr`ufc Fgw [ ro Nkty,kfnbuckfa tig Hrggc`d S`wgr, tig fgw

[lfogg ^tlckud lfc tig Jgt Ebug Sgrdk-flb lt Ogffgcy Lkrp`rt, ils eggf `r wkbbeg rg-gxldkfgc egnlusg l tgstkfan`dplfy ckc f`t c` kts j`e, lnn rckfat` stltg pr`sgnut`rs.Lf kfckntdgft ils

eggf rgturfgc h`r l n`fnrgtg-tgstkfan`dplfy. Lbb `h tig strunturgs lrgegbkgvgc t` eg slhg, lnn`rckfa t` nkty `hhknklbs, lbti`uai tigy dkait cgtgrk`-rltg s``fgr tilf gxpgntgc kh tig n`f-nrgtg ks egb`w stlfclrcs.

Sig tgstkfa n`dplfy,Sgstwgbb Ble`-rlt rkgs, tig nkty‛s bglckfa n`fnrgtg-tgstkfa hkrd, lfc sgvgrlb h kts `hhknklbs

wgrg kfckntgc `f nilrags tilt tigy hlkbgc t` pgrh`rd strgfati tgsts lfc

ekbbgc nbkgfts, kfnbuckfa l fudegr `h puebkn lagfnkgs, h`r w`ro tilt wlsfgvgr pgrh rdgc. Sig kfckntdgftnilragc Sgstwgbb, wikni ks elsgc kf@sskfkfa, Fgw [ ro, lfc kts `wfgr, X.Ugccy Olfnilrbl, wkti sgvgrlb nrkdgs,kfnbuckfa gftgrprksg n`rruptk`f, arlfcblrngfy lfc hlbskhykfa euskfgss rgn`rcs.Sgstwgbb‛s vkng-prgskcgft,kts ckrgnt`r h`r

n`fnrgtg lfc dls`fry tgstkfa, lfc h`ur `tigr gdpb`yggs wgrg lbs` nilragc wkti gftgrprksg n`rruptk`f.Silt ks tigstltg gqukvlbgft h hgcgrlb rlnogtggrkfanilrags–l hgb`fy pufksilebg ey up t`57 yglrs kf prks`f. Hkvg `tigr Sgstwgbbgdpb`yggs wgrg kfckntgc `f bgssgr nilrags.

Ls l prgnlutk`flry dglsurg, nkty `hhk-nklbs ilvg egauf dggtkfa wkti tig`wfgrs `h tig eukbckfas kcgftkhkgc kftig kfckntdgft t` cgvgb`p pr`ngcurgst` lssgss tig strunturlb kftgarkty `h

tigsg eukbckfas. ]r`sgnut`rs lnnusgcSgstwgbb `h nuttkfa n`rfgrs kf gvlbult-kfa tig strgfati `h n`fnrgtg kf vlrk`useukbckfa pr`jgnts.Sgstgrs, h`r kfstlfng,lrg supp`sgc t` put vlrk`us typgs `h n`fnrgtg tir`uai lf gkait-wggo lflby-sks tilt kfv`bvgs dlokfa sgvgrlb eltnigs`h n`fnrgtg lfc st`rkfa tigd kf n`f-tr`bbgc gfvkr`fdgfts egh`rg rgn`d-dgfckfa `fg h`rdubl h`r l pr`jgnt. EutSgstwgbb, `f iufcrgcs `h `nnlsk`fs,sokppgc tigsg tgsts, kfstglc rgbykfa `fstrgfati gstkdltgs tleubltgc kf l n`d-

putgr pr`arld, pr`sgnut`rs slkc.Dlfy Sgstwgbb kfspgnt`rs blnogc ngr-tkhknltk`fs h`r tigkr j`es, lnn`rckfa t`tig pr`sgnut`rs.Sig kfspgnt`rs fgvgr n`fcuntgc tig dlj`rkty `h tigkr hkgbctgsts, kfstglc hlbskhykfa rgsubts kf tigkr rgp rts, pr`sgnut`rs slkc. ]r`sgnut rslbs` lnnusgc Sgstwgbb `h ekbbkfa h`r

w`ro kt fgvgr pgrh rdgc.^`urng: Fgw[ ro Skdgs

A L^ N @D]LF[ D W^S ] L[ Q @UOGU^ $<5.>

D KBBK@F

L jury kf Nlbkh`rfkl lwlrcgc $<5.>dkbbk`f t` tw` dgf w`rokfa lspbudegrs wi` wgrg kfjurgc kf lfgxpb`sk`f tirgg yglrs la` wigf tigy trkgc t` kafktg l wltgr-igltgr pkb`t bkait.Sig dgf, wi` wgrg `f tig j`e, ckcf‛tsdgbb als lfc tigkr lttgdpt t` puragtig bkfg `h lkr hb``cgc l sdlbb wltgr-igltgr nb`sgt wkti als. Sig dgf suh-

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hgrgc sgn`fc-cgargg eurfs lfc wgrg`ut `h w`ro h`r d`ftis. Sig suktstgddgc hr`d tig lesgfng `h flturlb-als `c`r prk`r t` tig F`vgdegr 5==7gxpb`sk`f lt ]`rtgrvkbbg Lcubt ^ni``b.Bkqukc `c`rlft ks put kft` flturlb als s`kts prgsgfng nlf eg cgtgntgc, eut tig`c`r hlcgs kf fgw stggb pkpgs suni lsti`sg usgc kf tig lcubt sni``b‛s n`f-

struntk`f. Kt wls pr`vgc tilt ^`utigrfNlbkh`rfkl Als wls lwlrg `h ‒`c`r hlcg—h`r cgnlcgs, eut ilc hlkbgc t` wlrf tigpuebkn le`ut kt. Lpplrgftby, f` alsn`dplfy kf tig fltk`f wlrfs le`uttiks ilzlrc egnlusg `h tig n`st.Qigftig pkb`t ckcf‛t bkait tig dgf puragclkr hr`d tig bkfg.Sig lttgdpt t` bkaittig pkb`t rgsubtgc kf tig r``d eurstkfakft` hbldgs.

Kf lccktk`f t` tigkr eurfs, e`ti dgff`w lbs` suhhgr hr`d dgtiknkbbkf- rgskst-lft ^tlpiyb`n`nnus lurgus (DU^L), l

stlpi kfhgntk`f. Kt‛s l strlkf tilt‛s rgskst-lft t` tig er`lc-spgntrud lftkek`tknsn`dd`fby usgc t` trglt kt lfc nlf eghltlb.Sigkr d`st n`dd`f sydpt`d kspgrk`ckn e`kbs.Sig wltgr igltgr, dlfu-hlnturgc ey tig Erlch`rc-Qiktg N`rp,

wls kfskcg l wltgr-igltgr nb`sgt wkti ls`bkc c``r lfc f` vgftkbltk`f.Qigf tigdgf gftgrgc, tigy ckc f`t sdgbb als.

Gxpgrts n`fnbucgc tigrg dust ilvg leggf l als bglo `r tilt tig nlp wls bght`hh h`r d`rg tilf tirgg dkfutgs kf`rcgr h r gf`uai als t` ilvg lnnudu-

bltgc t` nlusg lf gxpb`sk`f `h tig dla-fktucg tilt `nnurrgc. Sig tw` dgf wgrg eb`wf elnowlrc lfc tig c``r siut egikfc tigd. Sig h`rng `h tiggxpb`sk`f ebgw tig ngkbkfa tkbgs `hh tigr``h le`vg tig nb`sgt lfc tw` lcjlngftrgstr``ds.Sig sni``b wls gvlnultgc.Gxpgrts wkti yglrs `h pbudekfa lfcgfakfggrkfa gxpgrkgfng wgrg er`uaitkf lfc d`st slkc tig pigf`dgf`f `h `c`r hlcg wls ufof`wf t` tigd. OgfHktzagrlbc,l blwygr hr`d lf Ckga`,Nlb-kh`rfkl, rgprgsgftgc tig tw` ]blkftkhhs

lfc ckc l vgry a``c j`e.^`urng: Xkslbkl Skdgs-Cgbtl

^ WKS^ H KBGC @ XGU LUOLF^L^ U LKBG Y]B@^K@F

L a``c fudegr `h blwsukts ilvgeggf hkbgc kf Lrolfsls `vgr l 5==7Wfk`f ]lnkhkn cgrlkbdgft, gxpb`sk`flfc nigdknlb bglo kf Sgxlrolfl.L trlkf

hr`d Niknla` struno lf`tigr trlkf,hr`d ]kfg Ebuhh, kf tig Wfk`f ]lnkhkn

ylrc `f tig s`uti skcg `h Sgxlrolfl.^`dg `h tig nlrs cgrlkbgc kf lf lnn`r-ck`f ghhgnt,pkgrnkfa l pr`pybgfg tlfogr tilt bglogc plrt `h kts hblddlebg nlra`.

L sdlbb pr`plfg tlfo lbs` gxpb`cgc.@fg rgskcgft, ]glrbkg Dlg Dlrsilbb,ckgc

wigf tig gxpb`sk`f cgstr`ygc igr

i`dg.L wr`fahub cglti sukt, hkbgc `vgr igr cglti,wls sgttbgc h`r $5 dkbbk`f.@tigr rgskcgfts n`dpblkfgc `h rgspk-

rlt`ry pr`ebgds lfc iufcrgcs `h i`dgs lfc l jlkb wgrg gvlnultgc. L sgn`fc wr`fahub cglti sukt wls hkbgcey tig hldkby `h F`rdl ^kds. Kt kslbbgagc tilt Ds. ^kds ckgc tgf clys lhtgr tig n`bbksk`f egnlusg `h tig hudgs sigkfilbgc. L tikrc blwsukt fldkfa le`ut<9 hkrst rgsp`fcgrs ls ]blkftkhhs wlsld`fa gkait d`rg sukts hkbgc rgngftby.

Sig Fltk`flb Srlfsp`rtltk`f ^lhgty

E`lrc h`ufc tig pr`elebg nlusg `h tign`bbksk`f t` eg ‒tig hlkburg `h tig nrgw `h tig trlkf t` rgdlkf lttgftkvg lfclbgrt lfc tigrgey lebg t` st`p si`rt `h lf `esgrvlebg stlfckfa trlkf.— L t`xknnigdknlb pbudg quknoby h`rdgc lhtgr tig kfnkcgft lfc i`vgrgc le`vg tigSgxlrolfl vknkfkty h`r i`urs.Si`uslfcs`h rgskcgfts wgrg lwlogfgc, stlrtbgc,lfc pr`dptby h`rngc t` gvlnultg tigkr i`dgs lfc euskfgssgs.

L sukt `f egilbh `h <,5== ]blkftkhhs wi` gktigr bkvgc wktikf l `fg-dkbg

rlckus `h tig eblst `r wgrg gxp`sgc t`tig f`xk`us vlp`rs, lbs` wls hkbgc.Siltsukt fldgs Wfk`f ]lnkhkn, ls wgbb ls tigtrlkf‛s n`fcunt`r lfc gfakfggr, lsCghgfclfts.Sig gxpb`sk`fs rgsubtgc kftig t`tlb cgstruntk`f lfc kfnkfgrltk`f`h dubtkpbg i`dgs lfc pgrs`flb pr`p-grty kf tig surr`ufckfa lrgls lfc pr`p-grtkgs. Sig pr`pybgfg lfc `tigr clfagr`us lfc t`xkn suestlfngs suesg-qugftby kafktgc, nluskfa dubtkpbg

vk`bgft lfc cglcby gxpb`sk fs.^tkbb lf tigr sukt, wikni ils <,3==

]blkftkhhs,slys vkntkds lrg suhhgrkfa n`f-tkfugc piysknlb lfc gd`tk`flb ghhgntshr`d tig lnnkcgft. Kf lccktk`f t` ltlfogr nlr hkbbgc wkti pr`pybgfg tiltbglogc lfc tigf kafktgc, l trgstbg erkcagslkc t` eg trgltgc wkti nrg`s`tg,i`usgs,nlrs lfc trlfsh`rdgrs lbs` eurfgc lfcrgbglsgc vlrk`us suestlfngs kft` tig lkr.Hgcgrlb `hhknklbs gstkdltgc tig cldlagnlusgc ey tig cgrlkbdgft lt $5.3dkbbk`f.Wfk`f ]lnkhkn ils lbrglcy sgttbgc

fudgr`us sukts ey gvlnuggs lfc slystilt kt wlfts t` sgttbg d`rg.

@fg sukt sggos nblss stltus h`r <8=pg`pbg wi` hlbb kft` ‒tig pgrs`flbkfjury nblss, tig gvlnultk f nblss, tigpr`pgrty cldlag nblss lfc/`r tig gn`-f`dkn b`ss/euskfgss b`ss nblss.— Hr`d lbblnn`ufts kt wkbb tlog l prgtty a``c

wikbg t agt lbb `h tig nblkds rgs`bvgc.

^`urng: Kfsurlfng J`urflb

BLQ^WKS H KBGC @ XGU G BGXLS@U C GLSI

L blwsukt ils eggf hkbgc ey l stucgft wi` `esgrvgc lf tigr stucgft okbbgc kflf gbgvlt`r lnnkcgft.Lfcy ]`blo`wsok,l hrgsidlf kf n`bbgag, wls okbbgc kf lc`rdkt`ry gbgvlt`r lnnkcgft tilt ilp-pgfgc tw` yglrs la` t`cly lt @ik`^tltg Wfkvgrskty. Dkbgs E. D`rrks, tigstucgft wi` ils sugc tig ufkvgrskty

`vgr tig lnnkcgft tilt okbbgc]`blo`wsok, wls kf tig gbgvlt`r wigftig <9-yglr-`bc wls nrusigc egtwggftig ngkbkfa `h tig gbgvlt`r lfc tigtikrc-hb``r b`eey `h l sni``b c`rdkt`ry kf @nt`egr `h 5==8. ]`blo`wsok wlstrykfa t` agt `hh tig `vgrb`lcgc gbgvl-t`r wigf kt ufgxpgntgcby cgsngfcgc

wkti kts c``rs `pgf.@ik` ^tltg, @tks Gbgvlt`r lfc

Legbb/Krvkf Gbgvlt`r ^grvkng, ls wgbb lsn`dplfkgs lhhkbkltgc wkti @tks lfc

Legbb,wgrg fldgc ls Cghgfclfts kf tig

sukt.Kt wls lbbgagc tilt cghgntkvg cgskaflfc n`fstruntk`f nlusgc tig kfnkcgft.Kt wls lbbgagc kf tig sukt tilt tigdgftlb lfc gd`tk`flb ckstrgss `h sggkfatig stucgft ckg ils rgqukrgc tig ]blkf-tkhh t` ufcgra` n`ufsgbkfa.

Sig stucgft okbbgc wls kf tig hr`ft `h tig gbgvlt`r lfc trkgc t` judp `ut eutdlcg kt `fby ilbhwly egh`rg ig wlsnrusigc wkti iks bgas ilfakfa kfskcgtig gbgvlt`r.Sig @ik` Cgplrtdgft `h N`ddgrng, wikni d`fkt`rs tig slhgty `h N`budeus gbgvlt`rs, n`fnbucgc tilt

tig erlogs hlkbgc kf tig ^trlcbgy gbgvl-t`r tilt okbbgc tig stucgft. Sgsts lhtgr tig lnnkcgft h`ufc tilt tig gbgvlt`r

w`ubc f`t i`bc tig ld`uft `h wgkaitkt wls supp`sgc t`, wikni wls >,<57p`ufcs. @tks dlfuhlnturgc tig gbgvlt`r lfc ilc tig n`ftrlnt t` sgrvkng kt uftkb@nt`egr <, 5==8. Legbb/Krwkf, f`w of`wf ls @rlnbg Gbgvlt`r N`., ils ilctig @^W gbgvlt`r-sgrvkng n`ftrlnt skfngtigf. Sius hlr, f` wr`fahub cglti

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blwsukt ils eggf hkbgc ey tig vkntkd‛shldkby lfc K egbkgvg tig stltutg `h bkdk-tltk`fs ils ruf.^`urng: N`budeus Ckspltni

H ULSGUFKS[ D W^S ] L[ $<8.5 D KBBK@F K F I LZKFA C GLSI

L stltg ckstrknt jucag kf Sgxls ils`rcgrgc tig fltk`flb lfc Wfkvgrskty `h Sgxls nilptgrs `h l hrltgrfkty t` ply $<8.5 dkbbk`f t` tig plrgfts `h l hrgsi-dlf pbgcag wi` hgbb t` iks cglti tw`

yglrs la` lhtgr ig wls suejgntgc t`ilzkfa.Sig ^kadl Lbpil Gpskb`f hrltgr-fkty dust ply glni `h tig plrgfts `h Sybgr Nr`ss, wi` wls hr`d Dlrkgttl,Ag rakl, $5.7 dkbbk`f h`r dgftlblfauksi lfc fglrby $9<,=== h`r hufgrlbgxpgfsgs,ls wgbb ls lccktk`flb cldlags.

L cghlubt jucadgft wls gftgrgc ey Jucag J`if Ckgtz.Sig jucag kssugc tig`rcgr wigf tig fltk`flb lfc b`nlb ^LGnilptgrs hlkbgc t` rgsp fc t` l blwsukthkbgc ey tig Nr`ss hldkby kf ^gptgdegr.^tltg blw lbb`ws tig nilptgrs t` sggo lfgw trklb, wikni n`ubc eg arlftgc kh tigy lrg lebg t` gxpblkf wiy tigy ckcf‛t rgsp`fc t` tig sukt.Sigy dustlbs` pr`vg l cghgfsg t` tig lbbgaltk`fslalkfst tigd nlf eg dlcg.

L nkvkb nlsg lalkfst tig ^LG lbudfke`lrc lfc tig i uskfa n rp`rltk`f ksstkbb pgfckfa. Hldkby dgdegrs `h

lf`tigr Wfkvgrskty `h Sgxls pbgcag,Jlno ]i`uddlrlti, sgttbgc l nlsg kf Juby wkti Bldecl ]ik Gpskb`f h`r $3.5 dkbbk`f.Sigstucgft, l I`ust f hrgsidlf, ckgc kf5==7 lhtgr crkfokfa l hltlb ld`uft `h lbn`i`b curkfa l pbgcag plrty.

Sig Nr`ss hldkby trkgc t` dgckltg lfcsgttbg tig nlsg `ut `h n`urt, eut a`t f`rgsp`fsg hr`d nilptgr blwygrs.SrlvksN`ufty pr`sgnut`rs egalf lf kfvgstkal-tk`f kft` tig hrltgrfkty lhtgr Sybgr hgbbhr`d iks hkhti-hb``r elbn fy `h lf `hh-nldpus c`rdkt`ry kf F`vgdegr 5==8.

Kfvgstkalt`rs ilvg slkc tilt tig fkaitegh rg iks e cy wls cksn`vgrgc, ig lfc`tigr pbgcags wgrg akvgf ilbh-albb`fbkqu r e`ttbgs t` crkfo. Lf lut`psy rgp`rt rgvglbgc tilt Sybgr ilc l eb``clbn`i`b bgvgb `h d`rg tilf twkng tigbgalb bkdkt h`r crkvkfa kf Sgxls. Glrbkgr tiks yglr, tw` h`rdgr pbgcag trlkfgrspbglcgc f` n`ftgst t` ilzkfa lfc hur-fksikfa lbn`i`b t` dkf`rs lfc wgrgsgftgfngc t` h`ur clys kf jlkb lfc tw`

yglrs `h cghgrrgc lcjucknltk`f, wikni ksl h`rd `h pr`eltk f.Sig h`rdgr prgsk-cgft `h ^kadl Lbpil Gpskb`f‛s Sgxlsnilptgr lbs` pbglcgc f` n`ftgst t` tignilrags lfc rgngkvgc `fg yglr `h cghgrrgc lcjucknltk f, lfc l h`urti dgdegr pbglcgc f` n`ftgst t` hlkburgt` rgp`rt ilzkfa lfc lbs` rgngkvgc `fg

yglr `h cghgrrgc lcjucknltk`f.

Sig hrltgrfkty rglnigc lf larggdgft wkti Wfkvgrskty `hhknklbs tilt lbb`ws tig`ralfkzltk`f t` oggp `pgrltkfa kh ktnilfags s`dg `h kts pbgcakfa lfc s`nklblntkvktkgs. Wfcgr tig larggdgft, tigar`up dust akvg lcvlfng f`tkng `h blrag plrtkgs, bkdkt tig lttgfclfng `h augsts t` ti`sg fldgc `f l prg-plrty augst bkst, ikrg `hh-cuty p`bkng `hhkngrst` pr`vkcg sgnurkty lfc bkdkt plrtkgs `r gvgfts t` Hrkclys lfc ^lturclys wkti lfgfckfa tkdg `h 5 l.d., ld`fa tigr pr`vksk`fs.

Sig Nr`ss hldkby slkc kf kts blwsukttilt, kf tig clys egh`rg tigkr s`f ckgc,ig wls suejgntgc t` ilzkfa tiltkfnbucgc egltkfas wkti blrag stknos `h elde`` lfc plccbgs, egkfa h`rngc t`crkfo blrag ld`ufts `h lbn`i`b, sbggpcgprkvltk`f lfc ‒`tigr lnts `h lsslubt `r elttgry.—Sig hldkby wlftgc t` usg tigblwsukt t` v`kng kts wksigs le`utnilfags kt wlftgc tig hrltgrfkty t`dlog. U`eey Lbcgf, l blwygr hr`d

Lustkf, Sgxls, rgprgsgftgc tig Nr`sshldkby. Kh tiks s`rt `h tikfa n`ftkfugs t`

a` f lt n`bbgags lfc ufkvgrsktkgs,ti`sghrltgrfktkgs tilt n`fc`fg ‒stupkckty—`h tig s`rt sgt `ut le`vg si`ubc egelffgc `f nldpus.^`urng: Lustkf Ldgrknlf-^tltgsdlf

S GYL^ L&D ^ GSSBG^ C GNLCG -@ BC E @FHKUG BLQ^WKS

Sgxls L&D Wfkvgrskty ils sgttbgc tigblwsukt tilt ils eggf kf n`urt h`r yglrs`vgr tig e`fhkrg n`bblpsg tilt okbbgc <5

pg`pbg lfc kfjurgc c`zgfs `h `tigrsfglrby l cgnlcg la`. Sig sgttbgdgftrgqukrgs gfakfggrkfa supgrvksk`f h`r lfy huturg nldpus e`fhkrg.Lpplrgftby,

L&D `hhknklbs ilvgf‛t dlcg l cgnksk`f`f wigtigr huturg e`fhkrgs wkbb eglbb`wgc. Sig ufkvgrskty wls sugc ey sgvgrlb pg`pbg wi` wgrg kfjurgc lfcey rgbltkvgs `h ti`sg okbbgc kf tigF`vgdegr <;;; n`bblpsg. Sig iuagstrunturg `h b`as hgbb lplrt wikbg kt wls

egkfa lssgdebgc h`r tig sni``b‛slffulb hgstkvktkgs prgngckfa l h``telbbaldg wkti tig rkvlb Wfkvgrskty `h Sgxls.Swgbvg pg`pbg wgrg okbbgc lfc 51d`rg kfjurgc.Sig Wfkvgrskty wkbb ply $5.< dkbbk`f t` sgttbg tig blwsukt.

Kt‛s tig hkrst tkdg tig Wfkvgrskty ilsplkc d`fgy kf tig e`fhkrg bktkaltk`f.Sig hldkbkgs `h h`ur stucgfts wi` ckgc

lfc tirgg wi` wgrg iurt ilc sugc tigWfkvgrskty, sni` b `hhknklbs lfc n`f-struntk`f n`ftrlnt`rs ikrgc t` igbpeukbc tig 7;-h``t-ikai stlno `h b`as tiltr`uaiby rgsgdebgc l wgcckfa nlog.Siglarggdgft, hkbgc kf stltg Ckstrknt N`urtkf Erlz`s N`ufty, rgs`bvgs lbb rgdlkfkfanblkds lalkfst nurrgft lfc h`rdgr L&Dgdpb`yggs, kfnbuckfa Uly E`wgf, wi`

wls prgskcgft lt tig tkdg `h tig n`b-blpsg. Nblkds lalkfst tig n`ftrlnt`rslrg pgfckfa, lfc tig Wfkvgrskty ks ltikrc-plrty Cghgfclft kf ti`sg dlttgrs.

Lnn`rckfa t` dgckl rgp`rts, tig Wfk- vgrskty ilc f`t plrtknkpltgc kf lfy `h tig prgvk`us sgttbgdgfts. ]blkftkhhs ilcrglnigc l sgttbgdgft t`tlbkfa le`ut $8dkbbk`f kf 5==3 lalkfst stucgft e`fhkrgbglcgrs of`wf ls ‒Ugc ] ts— h`r tigkr plkftgc ilrc ilts.Si`sg nblkds wgrgplkc tir`uai tig i`dg`wfgr‛s kfsur-lfng p`bknkgs `h tig plrgfts `h tig Ugc]`ts. @h tig $5.< dkbbk`f plkc kf tigbltgst sgttbgdgft, tig Wfkvgrskty wkbbply $7==,===, lfc kfsurlfng wkbb n`vgr tig rgst.

Lf kfvgstkaltkvg n`ddkssk`f ufcgr- wrkttgf ey L&D st`ppgc si`rt `h lsskafkfa ebldg kf kts 5=== rgp`rt eutcgf`ufngc tig blno `h Wfkvgrskty supgrvksk`f `h tig stucgft-ruf pr`jgnt,lfc nrktknkzgc ‒tuffgb vksk`f kf cgnksk`fdlokfa—lfc l nubturlb ekls tilt lbb`wgcslhgty pr`ebgds t` a` ufn`rrgntgc. Kf5==5,L&D skafgc lf larggdgft wkti tig Sgxls E`lrc `h ]r`hgssk`flb Gfak-fggrs kf wikni kt pr`dksgc t` gfsurgtilt lfy e`fhkrg `f nldpus w`ubc ilvgckrgnt Wfkvgrskty supgrvksk`f, kfnbuckfa

`vgrskait ey l bkngfsgc pr`hgssk`flbgfakfggr, kh wlrrlftgc.Sig sgttbgdgft n`dgs lhtgr l stltg

lppglbs n`urt rubgc kf Dly tilt L&Dlcdkfkstrlt`rs wgrg f`t kddufg hr`dblwsukts.Sig lcdkfkstrlt`rs ilc lraugctilt tigy wgrg sikgbcgc ey s`vgrgkafkddufkty, l c`ntrkfg tilt elrs suktslalkfst a`vgrfdgft lagfnkgs lfc `hhk-nklbs. Eut tig ^tltg N`urt `h Lppglbs kf

Qln` slkc tig Cghgfclfts wgrg egkfa

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sugc ls kfckvkculbs.Egskcgs E`wgf, tigh`rdgr L&D prgskcgft, tig Cghgfclftskfnbucgc J. Dlb`f ^`utigrblfc,QkbbkldB. Okebgr, Uussgbb Q. Si`dps`f lfc`tigr nurrgft lfc h`rdgr `hhknklbs.Nblkds lalkfst I.E. Zlniry N`., l n`f-struntk`f hkrd, lfc ^n`tt-Dln`f Btc., lnrlfg n`dplfy, lrg pgfckfa.^`urng: Lss`nkltgc ]rgss

DCN I @BCKFA^ ^ WGC @ XGU U LC@F ] U@EBGD^

L blwsukt ils eggf hkbgc ey <75 Qgst Xkrakfkl rgskcgfts, wi` ilvg rlc`f-rgbltgc pr`ebgds kf tigkr i`dgs,lalkfst Uknid`fc Ldgrknlf lfc ktsplrgft n`dplfy, Cgfvgr-elsgc DCNI`bckfas Kfn. Ikai bgvgbs `h clfagr`usrlc`f wgrg h`ufc kf tig ]blkftkhhs‛i`dgs wikni wgrg eukbt ey Uknid`fc

Ldgrknlf I`dgs `h Qgst Xkrakfkl. Kt‛slbbgagc tilt tig n`dplfkgs hlkbgc t`kfstlbb hufntk`fkfa rlc`f-rgd`vlbsystgds kf tig i`dgs tilt lrg kfv`bvgckf tig sukt.

Kfilbgc rlc`f ks tig sgn`fc-bglckfanlusg `h bufa nlfngr, lhtgr sd`okfa,okbbkfa 5<,=== Ldgrknlfs l yglr, lnn`rc-kfa t` tig Gfvkr`fdgftlb ]r`tgntk`f

Lagfny. Eut pg`pbg p`ks`fgc ey rlc`fc` f`t ckspbly sydpt`ds kddgckltgby.Kfstglc, tig bufa nlfngr kfnueltgs h r

yglrs. Qgst Xkrakfkl, wikni ils rlc`f-

als bgvgbs ikaigr tilf tig fltk`flblvgrlag,rgqukrgs rlc`f-rgd`vlb systgdst` eg kfstlbbgc kf fgwby-n`fstruntgci`dgs. K c` of`w tilt N`b`rlc` ilsikai bgvgbs h rlc`f. Kt lppglrs Lbleldlils f`tikfa skdkblr t` tig Qgst Xkrakfklblw.Lfcrgw ^okffgr, l b`nlb blwygr, rgp-rgsgfts tig Qgst Xkrakfkl ]blkftkhhs kftiks blwsukt.^`urng: Cgfvgr ]`st

N @FFGNSKNWS H LDKB[ ^ WG^ ] LUS[ I @^S^ K F

C UWFOGF C UKXKFA C GLSI

Sig hldkby `h Okrstgf Dgygr, l <;- yglr-`bc wi` ckgc kf lf lbn`i`b-rgbltgcd`t`r vgiknbg lnnkcgft lhtgr l 5==1i`usg plrty, ils hkbgc sukt lalkfst tigplrty i`st lfc iks plrgfts.Sig crkvgr

wi` nlusgc tig nrlsi ilc eggf hur-fksigc lbn`i`b lt tig plrty.Sig wr`fa-hub cglti sukt sggos cldlags h`r tigcglti `h tig tggflagr lfc gd`tk`flb

ckstrgss h`r igr plrgfts.Sig plrty i`st, wi` ilc eggf lnnusgc `h pr`vkckfalbn`i`b t` dkf`rs lt tig i`usg plrty,pbglcgc aukbty t` rgnobgss gfclfagr-dgft kf Lprkb. Sig plrty augst wi`nlusgc tig lnnkcgft wls sgftgfngc t`hkvg yglrs kf prks`f h`r crufogfcrkvkfa.Sig tggflagc vkntkd wls l pls-sgfagr kf iks nlr.

^`urng: Kfsurlfng J`urflb

YXK.Q@UO]BLNGILZLUC^

X LBGU@ ^ GSSBG^ @ FG Q U@FAHWB C GLSI BLQ^WKS

Xlbgr` Gfgray ils sgttbgc `fg `h tw`

wr`fahub cglti nlsgs hkbgc lalkfst tign`dplfy lhtgr tw` dgf suhh`nltgckfskcg l rglnt`r t`wgr lt tig CgblwlrgNkty rghkfgry kf 5==7. Sig sgttbgdgftlarggdgft wls hkbgc kf tig W.^. CkstrkntN`urt h`r tig Glstgrf Ckstrknt `h ]gff-sybvlfkl.Sig larggdgft, tig tgrds `h

wikni wgrg f`t cksnb`sgc, lhhgntgc fby tig nlsg hkbgc ey survkv`rs `h e`kbgr-dlogr J`if L. Blttlfzk. ]rg-trklb lntkvk-tkgs lrg n`ftkfukfa kf tig nlsg `h lf`tigr e`kbgrdlogr J`if Hgraus`f,

wi` ckgc kf tig kfnkcgft.

Sig hldkbkgs `h e`ti dgf lnnusgc tign`dplfy `h hlkbkfa t` pr`vkcg tig w`rogrs wkti wlrfkfas tilt tigy w`ubceg w`rokfa `f t`p `h l rghkfkfa t`wgr hkbbgc wkti fktr`agf als. Sigrg ilvgeggf skdkblr pr`ebgds lt `tigr Xlbgr`rghkfgrkgs.Sig n`dplfy wls lnnusgc `h fgabgntkfa slhgty wikbg rusikfa tigrghkfkfa systgd elno kft` sgrvkng t`tlog lcvlftlag `h ikai hugb prkngs.

Kfvgstkalt`rs wkti tig W.^. Nigdknlb^lhgty lfc Ilzlrc Kfvgstkaltk`f E`lrcn`fnbucgc tilt Hgraus`f wls `vgr-

n`dg ey tig als wikbg lttgdptkfa thksi l r`bb `h cunt tlpg hr`d tig rglnt`r uskfa l bgfati `h wkrg. Blttlfzk ckgc

wikbg trykfa t` lkc iks n`-w`rogr. Xlbgr` ilc tlogf n`ftr`b `h tig rghkf-gry hr`d ]rgdn`r `fby l hgw wggosegh`rg tig lnnkcgft. L N^E rgp`rtebldgc tig cgltis kf plrt `f ‒kflcg-qultg— wlrfkfas lfc elrrkgrs lr ufclf `pgfkfa kf tig tlfo wigrg tig dgfckgc.Sig kfvgstkaltk`f lbs` n`fnbucgc

tilt dlflagrs hlkbgc t` akvg tig w`rogrs lcgqultg wrkttgf f`tkng `h tig suhh`nltk`f ilzlrc.

Sigrg ilvg eggf cgstruntk`f `h gvk-cgfng nblkds lalkfst Xlbgr` lfc cks-putgs `vgr gxpgrt tgstkd fy. Xlbgr`hkbgc sukt kf stltg lfc hgcgrlb n`urtglrbkgr sggokfa lnngss t` tgfs `h dkb-bk`fs `h c`bblrs kf n`dpgfslt`ry lfc

pufktkvg cldlag kfsurlfng n`vgrlag kfn`ffgntk`f wkti tig tw` nblkds. Sigckslppglrlfng `h nrktknlb gvkcgfng lfccgblys kf pr`cuntk`f `h `tigr rgqugstgccksn`vgry ktgds wgrg lbs` qugstk`fgc.^`urng: (Cgblwlrg) Fgws J`urflb

D L^^G[ ^ GSSBG^ BLQ^WKS @ XGU Q G^S X KUAKFKL D KFG C GLSI^

Dlssgy Gfgray N`. ils sgttbgc l wr`fahub cglti blwsukt kfv`bvkfa tiglspiyxkltk`f h tw` dgf kf l Qgst Xkr-akfkl dkfg hkrg.Sig dlttgr ks lbs` ufcgr hgcgrlb nrkdkflb kfvgstkaltk`f.Sig sgt-tbgdgft nldg curkfa l trklb tilt egalf`f F`vgdegr <= ti .Sig tgrds `h tig sgt-tbgdgft wgrgf‛t cksnb`sgc. Sig tw`dkfgrs ckgc lhtgr tig hkrg er`og `ut kf

Jlfulry `h 5==8, kf Dlssgy‛s Lrln`dlN`lb dkfg fglr ^t`bbkfas,Qgst Xkrakfkl.Sig dgf‛s wkc`ws sugc tig n`dplfy,Nikgh Gxgnutkvg @hhkngr C`f Eblfogf-sikp, lfc tig n`dplfy‛s L.S. Dlssgy lfc Lrln dl N`lb sueskcklrkgs,nblkdkfa

tigy pusigc pr`cuntk`f lt tig gxpgfsg`h w`rogr slhgty.Sigrg wls l $<.7 dkbbk`f hkfg lalkfst

Dlssgy blst yglr ey hgcgrlb rgaublt rsnktkfa 57 vk`bltk`fs tilt n`ftrkeutgc t`tig cgltis.Sig n`dplfy nblkdgc tigrg

wgrg n`fcktk`fs tilt ckcf‛t dggt ktsstlfclrcs.Sig sgttbgdgft nldg hkvg clyslhtgr gkait nurrgft lfc h`rdgr Dlssgy supgrvks`rs lt tig dkfg cgnbkfgc t`tgstkhy, nktkfa tigkr n`fstktutk`flb rkaitlalkfst sgbh-kfnrkdkfltk f. Sig sgttbg-dgft gfcs nblkds lalkfst lbb Cghgfclfts,

pgfckfa n`urt lppr`vlb.L hgcgrlb arlfc jury ks kfvgstkaltkfa tig kfnkcgft h r p`s-skebg nrkdkflb nilrags.Lrln`dl ks l ufkt`h Gbo Uuf N`lb,wikni kf turf ks l sue-skcklry `h L.S. Dlssgy. L.S. Dlssgy ks lufkt `h Dlssgy Gfgray.^`urng: Eb``degra

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Q @UO]BLNG K FJWU[ N L^G ^ GSSBGC H @U $3.; D KBBK@F

L w`rogr wi`sg nlrggr gfcgc wigft`fs `h n`fnrgtg lfc wkrg dgsi nrlsigc c`wf `f ikd kf l eukbckfa kfEuhhlb , Fgw [ ro, ils sgttbgc iksblwsukt h`r $3.; dkbbk`f.Sig sgttbgdgftnldg curkfa l trklb `h tig 3>-yglr-`bc]blkftkhh‛s blwsukt. Sig ]blkftkhh, ldgdegr `h l hkvg-dlf cgd`bktk`f nrgw,

wls eurkgc ey hlbbkfa n`fnrgtg lfc wkrgdgsi `f tig skxti hb``r `h l b`fa-

vlnlft i`tgb eukbckfa `f ^gptgdegr ;,5==>. Sig ]blkftkhh, wi` wls w`rokfah`r l suen`ftrlnt r, suhhgrgc sgvgrgelno kfjurkgs lfc rgqukrgs lsskstlfng t`

wlbo. Sig i`tgb eukbckfa wls n`f-struntgc kf <9;1 lfc kt wls egkfa n`f-

vgrtgc kft buxury lplrtdgfts.^tgpigfU.H`bgy, l Euhhlb`,Fgw [ ro blwygr, rgp-rgsgftgc tig ]blkftkhh lfc ckc l vgry a``c j`e.^`urng: Euhhlb` Fgws

BLQ^WKS H KBGC K F N IGGUBGLCGU ‛ C GLSI

Lsibgy Eurfs ckgc hr`d l rupturgcspbggf suhhgrgc wikbg pgrh`rdkfa lniggrbglckfa stuft. Uuti Eurfs, tigd`tigr `h tig tggflagr, ils hkbgc l

wr`fahub cglti blwsukt lalkfst tig GlstGbktg Niggr Ayd, l hlnkbkty kf Sgwos-eury, DL wigrg Lsibgy wls rgngkvkfakfstruntk`f wkti tig Dgch rc Ikai ^ni``b niggrbglckfa tgld.Sig W.^.Lbb^tlr Hgcgrltk`f h`r Niggr lfc ClfngSglds lfc tig Ldgrknlf Lss nkltk`f h Niggrbglckfa N`lnigs lfc Lcdkfkstrl-t`rs, wikni lrg lnnrgcktkfa `ralfkzl-tk`fs, lbs` wgrg fldgc kf tig blwsukt,ld`fa tigr Cghgfclfts. Drs. Eurfs kfhkbkfa tig blwsukt i`pgs kt wkbb bglc t`fltk`flb stlfclrcs h`r niggrbglckfaslhgty t` prgvgft hurtigr cgltis `r kfjurkgs.Sig niggrbglckfa kfcustry ks l$5 ekbbk`f kfcustry fltk`fwkcg.

Lsibgy wls l ‒hbygr— wi` wls‒p`ppgc— up ey tw` niggrbglcgrssgrvkfa ls elsgs lfc lttgdptgc t`pgrh`rd lf lrlegsqug c`uebg-twkst cks-d`uft, eut hgbb. Niggrbglcgrs lrg lt rkso `h sgrk`us kfjury lfc gvgf cglti egnlusg`h tig stufts tigy pgrh`rd.Sigrg ilvgeggf l trgdgfc`us fudegr `h sgrk`uskfjurkgs lfc s`dg cgltis kf tig Wfktgc^tltgs kfv`bvkfa niggrbglcgrs.

H`r ikai sni``b akrbs lfc n`bbgag w`dgf, niggrbglckfa ks hlr d`rg clf-

agr`us tilf lfy `tigr sp rt, lnn`rckfat` l fgw rgp`rt tilt lccs sgvgrlb prgvk-`usby ufrgp`rtgc nlsgs `h sgrk`uskfjurkgs t` l ar`wkfa bkst. Ikai sni``bniggrbglckfa lnn`uftgc h`r 87.<% `h lbbnltlstr`pikn sp`rts kfjurkgs ld`fa ikai sni``b hgdlbgs `vgr tig plst 57 yglrs,lnn`rckfa t` lf lffulb rgp`rt rgbglsgckf Luaust ey tig Fltk`flb Ngftgr h`r

Nltlstr`pikn ^p`rts Kfjury Ugsglrni.Sig fgw gstkdltg ks up hr`d 77% kfblst yglr‛s stucy. Sig rgsglrnigrs sly tilt tig trug fudegr `h niggrbglckfakfjurkgs lppglrs t` eg ikaigr tilf tigy ilc prgvk`usby ti`uait. Sig rgp rtn`ufts `fby hltlb, ckslebkfa lfc sgrk`uskfjurkgs.

Sig stltkstkns lrg gqulbby arkd kfn`bbgag, wigrg niggrbglckfa lnn`uftgch`r 88.1% `h lbb hgdlbg sp`rts nltl-str`pikn kfjurkgs, n`dplrgc t` tig plstgstkdltg h 7;.3%. Nltlstr pikn kfjurkgs

t` hgdlbg ltibgtgs ilvg kfnrglsgc `vgr tig yglrs, skfng tig hkrst rgp`rt wlspuebksigc kf <;95. L dlj`r hlnt`r kftiks kfnrglsg ils eggf tig nilfag kfniggrbglckfa lntkvkty, wikni f`w kfv`bvgs ‒aydflstkn-typg stufts,—lnn`rckfa t` Cr. Hrgcgrkno @. Dugbbgr,bglc rgsglrnigr `f tig fgw rgp`rt lfcl pr`hgss`r `h gxgrnksg lfc sp`rtssnkgfng lt tig Wfkvgrskty `h F`rti Nlr-`bkfl lt Nilpgb Ikbb. Cr. Dugbbgr `esgrvgc:

Kh tigsg niggrbglckfa lntkvktkgs lrgf`t tluait ey l n`dpgtgft n`lnilfc oggp kfnrglskfa kf ckhhknubty,nltlstr`pikn kfjurkgs wkbb n`f- tkfug t` eg l plrt `h niggrbglckfa.

Bgss tilf nltlstr`pikn kfjurkgs lrg vlstby d`rg n`dd`f lfc tigy `nnur lt duni y`ufagr lags, t``. Nikbcrgflags hkvg t` <9 lcdkttgc t` i`spktlbsh`r niggrbglckfa kfjurkgs kf tig Wfktgc^tltgs judpgc hr`d <=,;== kf <;;= t`55,;== kf 5==5, lnn`rckfa t` rgsglrni puebksigc kf tig j`urflb ]gckltrkns kf5==8. Sig fgw rgp`rt h`ufc tiltegtwggf <;95 lfc 5==1, tigrg wgrg<=> hltlb, ckslebkfa `r sgrk`us kfjurkgsrgn`rcgc ld`fa hgdlbg ikai sni``bltibgtgs, wkti 81 `nnurrkfa kf niggr-bglckfa. Sig fgxt d`st clfagr ussp`rts wgrg aydflstkns wkti fkfgsuni kfjurkgs lfc trlno wkti sgvgf.

Ld`fa n`bbgag ltibgtgs, tigrg ilvgeggf >; `h tigsg sgvgrg kfjurkgs: 58 kfniggrbglckfa, h`bb`wgc ey tirgg kf

hkgbc i`nogy lfc tw` glni kf blnr`ssglfc aydflstkns.Sig rgp`rt lbs` f`tgstilt lnn`rckfa t` tig FNLL‛s kfsur-lfng pr`arld,57% `h d`fgy spgft `fstucgft ltibgtg kfjurkgs kf 5==7rgsubtgc hr`d niggrbglckfa.

Kf 5==1, i`wgvgr, `fby tw` nltl-str`pikn kfjurkgs t` hgdlbg ikai sni``bniggrbglcgrs wgrg rgp rtgc, c`wf

hr`d tgf kf tig prgvk`us sgls`f lfctig b`wgst fudegr skfng 5==<. [gttigrg wgrg tirgg nltlstr`pikn kfjurkgst` n`bbgag-bgvgb plrtknkplfts, up hr`d`fg kf 5==8.Lnn`rckfa t` tig rgp`rtrghgrrgc t` le`vg, lbd`st ;7,5== hgdlbgstucgfts tlog plrt kf ikai sni``b niggr-bglckfa lffulbby, lb`fa wkti le`ut5,<7= dlbgs. N`bbgag plrtknkpltk ffudegrs lrg ilrc t` hkfc skfng niggr-bglckfa ks f`t lf FNLL sp rt. I`pg-hubby, tig blwsukt hkbgc ey Lsibgy‛sd`tigr wkbb igbp erkfa lttgftk`f t` l

d`st sgrk`us lrgl `h n`fngrf.^`urng: E`st`f Igrlbc lfc Lss`nkltgc ]rgss

^ W]]BKGU @ H W FKH@UD^ K ^ LNNW^GC @ H D @UG ^ LHGS[ X K@BLSK@F^

Kf Dlrni 5==1,Gbglzlr S`rrgs-A`dgzhgbb kft` l >==-cgargg kfcustrklb crygr ltl Nkftls N`rp.blufcry lfc ckgc.Kfstglc`h siuttkfa `hh tig dlnikfgry tig sgvgf-

yglr gdpb`ygg nbkdegc `ft` l sb`w-d`vkfa n`fvgy`r t` nbglr l jld `h wgt

blufcry. Ig tigf judpgc up lfc c`wf`f tig nbudp `h blufcry lfc hgbb kf.Swgfty dkfutgs bltgr, lf`tigr gdpb`ygg iglrc S rrgs-A`dgz‛s eurfgce`cy elfakfa lr`ufc kf tig crygr lfccksn`vgrgc wilt ilc ilppgfgc.Lhtgr-

wlrc, Nkftls–F`rti Ldgrknl‛s blragstufkh`rd suppbkgr–wls ikt wkti l $5.19dkbbk`f hkfg ey tig hgcgrlb @nnupltk`flb^lhgty lfc Iglbti Lcdkfkstrltk`f h`r ufslhg prlntkngs lfc kflcgqultg w`rogr trlkfkfa.Sig n`dplfy lbs` lff`ufngckt wls p`stkfa slhgty d`fkt`rs lt gvgry

blufcry wigrg lut`dltkn gqukpdgft wls usgc.Wfh`rtufltgby, tiks wlsf‛t tig hkrst

r`cg` h r Nkftls. Kf tig yglr lfc l ilbh lhtgr tig trlagcy kf Subsl, lnn`rckfa t`

Lss`nkltgc ]rgss , lt bglst gkait Nkftlspblfts kf skx stltgs wgrg nktgc ey @^IL lfc stltg luti`rktkgs h`r ilzlrcs skdkblr t` ti`sg tilt bgc t` S`rrgs-A`dgz‛scglti. Kf kftgrvkgws wkti Lss`nkltgc

]rgss , s`dg nurrgft `r h`rdgr gdpb`y-

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ggs t`bc Lss`nkltgc ]rgss tilt tig w`rogrs wi` sgrvg ls slhgty d`fkt`rslrg s`dgtkdgs pubbgc hr`d tigkr j`eslfc lsskafgc t` `tigr cutkgs.Sigy lbs`slkc tilt gdpb`yggs stkbb rkso bkhg lfcbkde t` nbglr blufcry tlfabgs lt tigNkftls pblfts.

Nkfnkffltk-elsgc Nkftls gdpb`ys>3,=== pg`pbg lfc ilc slbgs `h fglrby

$3 ekbbk`f kf hksnlb 5==9.Sig n`dplfy suppbkgs lfc blufcgrs ufkh`rds h`r rgstlurlft lfc i`tgb gdpb`yggs lfc`tigr w`rogrs. Nkftls cksputgc tiggdpb`ygg lbbgaltk`fs, nblkdkfa tign`dplfy ils dlcg sgvgrlb slhgty kdpr`vgdgfts, kfnbuckfa rgkfh`rnkfatrlkfkfa gvgry wggo lfc kfstlbbkfacgvkngs lr`ufc tig n`fvgy`rs tiltsgfsg wigf s`dg`fg ils a`ttgf t``nb`sg lfc siut tig systgd c`wf. ^`dgble`r gxpgrts egbkgvg Nkftls fggcs t`a` hurtigr lfc sly tilt tig n`dplfy

ils b`fa rgalrcgc hkfgs ls just l ‒n`st `h c`kfa euskfgss.— Oltg Er`fhgfergffgr,lf gxpgrt lt N`rfgbb Wfkvgrskty `fble`r-dlflagdgft kssugs, dlcg tiks`esgrvltk`f:‒Sigsg hkfgs lrg plrokfatknogts, lfc tigsg n`dplfkgs nlf lhh`rct` ply plrokfa tknogts.—

Dlfy `h tig kfnkcgfts lt `tigr Nkftls‛pblfts kfv`bvgc tig sldg typg slhgty pr`ebgds. Kt ngrtlkfby lppglrs tilt tign`dplfy‛s gdpb`yggs lrg lt rkso h`r sgrk`us kfjury `r cglti. I`pghubby,s`dge cy wkbb s``f eg lebg t` agt dlf-

lagdgft‛s lttgftk`f!^`urng: Lss`nkltgc ]rgss

Q G^S X KUAKFKL N @LB @ ]GULSK@F H KFGC @ XGU C W^S I LZLUC

Sig hgcgrlb Dkfg ^lhgty lfc Iglbti Lcdkfkstrltk`f (D^IL) ils hkfgc lf Lbpil Flturlb Ugs`urngs sueskcklry d`rg tilf $18>,=== h`r rgpgltgc slhgty

vk`bltk`fs lt l Qgst Xkrakfkl n`lb `pgrl-tk`f.Lbpil‛s Okfaw``c Dkfkfa N`.wls

nktgc <> tkdgs kf l `fg-yglr pgrk`c h`r lbb`wkfa n`lb cust t` lnnudubltg lb`fan`fvgy`r egbts lt kts Qiktgtlkb Okttlf-fkfa dkfg. Hkvg `h tig nktltk`fs wgrglssgssgc ls h blarlft vk`bltk`fs, wikni nlf nlrry hkfgs ls ikai ls $55=,===.D^IL ckrgnt`r Uknilrc ^tknobgr slkc kfl prgplrgc stltgdgft:

Sig rgsubt `h n`lb cust lnnudublt- kfa ufcgrar`ufc n`ubc ilvgeggf l nltlstr`pikn hkrg `r gxpb`-

sk`f. Kt ks gspgnklbby tr`uebgs`dgtilt tig dkfg `pgrlt`r hlkbgc t`tlog lfy n`rrgntkvg lntk`f, cgspktgkts `wf rgn`rcs lfc prk`r f`tkng

hr`d D^IL tilt nbglrby kfcknltgc tig fggc h`r n`rrgntkvg lntk`fs t`

pr`tgnt tig slhgty `h dkfgrs.

N`lb cust lb`fa n`fvgygr egbts ks ln`dd`f nlusg `h n`lb dkfg hkrgs,kfnbuckfa l ikai-pr`hkbg eblzg tilt okbbgctw` dkfgrs lt l Qgst Xkrakfkl dkfg kf

Jlfulry 5==8.^`urng: Lss`nkltgc ]rgss

^ GXGF N @D]LFKG^ N KSGC LS H B@UKCL I @SGBU GF@XLSK@F ^ KSG

K @QL D GLS]LNOGU H KFGC F GLUB[ $<= D KBBK@F H @U X K@BLSK@F^

K`wl ils hkfgc l o`sigr dgltplnokfapblft fglrby $<= dkbbk`f h`r lbbgagc

wlag vk`bltk`fs. Larkpr`ngss`rs kf]`tsvkbbg,K`wl, wls tlragtgc kf Dly kflf kddkarltk`f rlkc lfc ils lbs` eggflnnusgc `h nikbc-ble`r vk`bltk`fs.Ble`r N`ddkssk`fgr Clvg Fgkb lssgssgc tignkvkb pgflbtkgs lalkfst Larkpr`ngss`rs kf]`tsvkbbg h`r wilt ig nlbbs rgpgltgc vk`-bltk`fs `h K`wl‛s wlag blws hr`d

Jlfulry 5==8 t` Jufg 5==9.Sig lbbgagc vk`bltk`fs kfnbucg kbbgalbby cgcuntkfaslbgs tlx lfc dksngbblfg`us n`sts, lfchlkbkfa t` ply c`zgfs `h w`rogrs tigkr blst plynigno lhtgr tig Dly rlkc ey hgcgrlb kddkarltk`f lagfts. Sig nkvkbpgflbtkgs t`tlb d`rg tilf $;.; dkbbk`f.^`urng: Lss`nkltgc ]rgss

@ ULB U @EGUS^ W FKXGU^KS[ ^ GSSBG^ Q U@FAHWB H KUKFA BLQ^WKS

@rlb U`egrts Wfkvgrskty ils rglnigcl sgttbgdgft wkti tw` h`rdgr pr`hgs-s`rs wi` sugc blst yglr, nblkdkfa tigy

wgrg h rngc `ut lhtgr ufn`vgrkfa hkflf-nklb lfc gtiknlb wr`fac`kfa ey tigsni``b‛s h`rdgr prgskcgft lfc hldkby.Sig n`fhkcgftklb sgttbgdgft wkti Skdlfc ]lubktl Er``ogr nldg lt tig gfc `h l n`urt- rcgrgc dgckltk`f sgssk`f. Kt

wkbb erkfa t` l nb`sg–lt bglst hr`d lbgalb pgrspgntkvg–tig snlfclb tiltgfaubhgc tig gvlfagbknlb sni``b,h`ufcgc kf tig <;8=s ey tgbgvlfagbkst@rlb U`egrts, lfc bgc t` tig rgskafltk f`h iks s`f,Uknilrc, ls prgskcgft.

Uknilrc U`egrts lfc iks wkhg,Bkfcsly, wgrg lnnusgc `h uskfa Wfkvgr-skty d`fgy h`r si`ppkfa sprggs, i`dgkdpr`vgdgfts lfc l stlebg `h i`rsgsh`r tigkr cluaitgrs lt l tkdg wigf tigWfkvgrskty wls d`rg tilf $7= dkbbk`fkf cget. E`ti ilvg rgpgltgcby cgfkgc

wr`fac`kfa. Sig Er``ogrs lbs` ilcfldgc ls Cghgfclfts tig U`egrtsgs,h`rdgr sni``b rgagfts lfc `hhknklbs kftig @nt`egr 5==1 wr`fahub tgrdkfl-tk f blwsukt. Kf Jlfulry, tig sni``bsgttbgc `ut `h n`urt wkti pr`hgss`r J`if^wlkbs, wi` er`uait tig blwsukt lb`fa

wkti tig Er``ogrs. Silt n`fhkcgftklbsgttbgdgft rgsubtgc kf ^wlkbs‛ rgkfstltg-dgft lt @UW.^`urng: Lss`nkltgc ]rgss

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YXKK.SULF^]@USLSK@F

K FXG^SKALSK@F H KFC^ G FAKFG^ Q KSI C LDLAGC LFC D K^^KFA ] LUS^

Lhtgr hkfckfa sgvgrlb plssgfagr lkr-nrlht gfakfgs wkti cldlagc lfc

dksskfa plrts, slhgty `hhknklbs ilvguragc tig Hgcgrlb Lvkltk`f Lcdkfkstrl-tk`f t` `rcgr kfspgntk`fs `h skdkblr gfakfgs, plrtknublrby ti`sg b`fa kfsgrvkng.Sig ]Q5=>1 gfakfgs nurrgftby lrg usgc kf 157 E`gkfa 171 jgtbkfgrs,lnn`rckfa t` ]rltt & Qiktfgy, tigkr dlfuhlnturgr.Sig Fltk`flb Srlfsp`rtl-tk`f ^lhgty E`lrc,kf l bgttgr t` tig HLL sggokfa tig kfspgntk`fs, nktgc n`fngrfstilt pkgngs `h tig gfakfg n`ubc pgfg-trltg hugb tlfos,nluskfa l bglo lfc hkrg.Sig slhgty e`lrc wr`tg U`egrt ^turagbb,

tig HLL‛s lntkfa lcdkfkstrlt`r, slykfatilt ‒Kfh`rdltk`f altigrgc t` cltg ilsrlksgc sgrk`us n`fngrfs tilt wlrrlftkddgckltg lntk`f ey tig HLL.—

Sig slhgty e`lrc egalf gxldkfkfatig gfakfgs lhtgr Cgbtl Lkr Bkfgs pkb`tsrgp`rtgc iglrkfa l b`uc elfa curkfa ltlog`hh r`bb lt Bls Xgals‛ DnNlrrlfKftgrfltk`flb Lkrp`rt `f Luaust 8 ti .Sige`lrc slkc tig pkb`ts f`tkngc `fggfakfg b`st p`wgr egh`rg tigy sb`wgctig pblfg lfc rgturfgc t` tig plrokfalrgl. H`rtufltgby, tigrg wgrg f`rgp`rtgc kfjurkgs t` tig <88 plssgfagrs`r skx nrgw dgdegrs.Lf kfvgstkaltk`fturfgc up sgvgrlb er`ogf, nrlnogc `r dksskfa buas tilt i`bc turekfg eblcgs, ls

wgbb ls cldlagc eblcgs kf tig jgt‛sgfakfg, lnn`rckfa t` tig FS^E bgttgr.Sig e`lrc h`ufc skdkblr pr`ebgds kf lf

Ldgrknlf Lkrbkfgs jgtbkfgr wkti tigsldg ]Q5=>1 gfakfg. Sig FS^E ilsbglrfgc tilt cldlagc buas lbs` ilvgeggf h`ufc kf h`ur `tigr ]Q5=>1gfakfgs.

Lnn`rckfa t` tig HLL, tig lagfny wls lwlrg `h tig pr`ebgd lfc wls w`rokfa wkti ]rltt & Qiktfgy.I`wgvgr, lt prgss tkdg f` cgnksk`f ilceggf dlcg le`ut wigtigr t` `rcgr kfspgntk`fs `h ]Q5=>1 gfakfgs.Lpplr-gftby, tig HLL ks trykfa t` hkaurg `ut kh ktfggcs t` `rcgr tig kfspgntk`fs `h lbb]Q5=>1 gfakfgs, `r `fby gfakfgs dlcgcurkfa l spgnkhkn tkdg pgrk`c. ]rltt &

Qiktfgy slys kt ks ‒kfv`bvgc kf tigkfvgstkaltk`f— lfc tilt kt ks ‒hubby n``p-

grltkfa wkti tig FS^E lfc Cgbtl Lkr Bkfgs.—Sig E`gkfa 171 ks l twkf-gfakfgsi`rt-t`-dgckud-rlfag jgtbkfgr dlfu-hlnturgc h`r 5> yglrs uftkb F`vgdegr 5==7.Sigrg lrg stkbb d`rg tigf <,=>= `h tig lkrbkfgrs kf sgrvkng, lnn`rckfa t`E`gkfa‛s wgesktg.^`urng: Lss`nkltgc ]rgss

^ LHGS[ E @LUC S LUAGS^ D GCKNLBI GBKN@]SGU N UL^IG^

L hgcgrlb slhgty plfgb slys lvkltk`f`hhknklbs lrg f`t lntkfa quknoby gf`uai `f pr`p`slbs t` prgvgft nrlsigs `h gdgragfny dgcknlb igbkn`ptgrs.Ls wgrgp`rtgc prgvk`usby, tig Fltk`flb Srlfs-p`rtltk`f ^lhgty E`lrc uragc tigHgcgrlb Lvkltk`f Lcdkfkstrltk`f kf

Jlfulry 5==8 t` tlog stgps t` kdpr`vgtig slhgty `h gdgragfny dgcknlb igbk-n`ptgr hbkaits.Sig slhgty e`lrc wlftgctig HLL t` kdpr`vg pr`ngcurgs h`r dgcknlb igbkn`ptgrs, t` gvlbultg hbkaitrksos, rgqukrg `fe`lrc nrlsi-wlrfkfatgnif`b`ay, lfc sgt p`bknkgs h`r sgnur-kfa wgltigr upcltgs. Lt l rgngftdggtkfa, tig slhgty e lrc lnof`wb-gcagc tilt tig HLL ks w`rokfa `f tigpr`p`slbs, eut f t quknoby gf`uai.@vgr tig plst << d`ftis, fkfg gdgr-agfny dgcknlb igbkn`ptgrs ilvgnrlsigc, okbbkfa >7 pg`pbg. Siks ks lslhgty kssug tilt dust eg ilfcbgc lfc

wkti`ut cgbly.^`urng: Lss`nkltgc ]rgss

J WU[ X GUCKNS H @U F GQ J GU^G[ N UL^I X KNSKD K F A WLUCULKB N L^G

L $>< dkbbk`f c`bblr vgrcknt wlslwlrcgc ey l jury t` l dlf wi` sugclhtgr egkfa kfjurgc ey lf ufslhgaulrcrlkb.Sig jury rubgc kf hlv`r `h 55-

yglr-`bc Fkni`bls Lfcgrs`f, wi` wlssgvgrgby kfjurgc kf l 5==3 lnnkcgft.Sig

]blkftkhh swgrvgc t` lv`kc lf`tigr nlr lfc sblddgc kft` l aulrcrlkb tilt wlsslkc t eg f`t nrlsi-w`rtiy. Sigaulrcrlkb ckc f`t st p tig vgiknbg, eutpufnturgc tig ]blkftkhh‛s crkvgr skcgc``r, nluskfa dubtkpbg,blstkfa kfjurkgs,kfnbuckfa sgvgrkfa iks bga egb`w tigofgg. Sig lwlrc wls slkc t eg tigblragst kf tig ikst`ry `h NldcgfN`ufty h`r l d`t`r vgiknbg lnnkcgft.Sig n`ufty wkbb lppglb.

^ WKS H KBGC K F N UL^I S ILS O KBBGC N IKNLA@ ^ SWCGFS

L wr`fahub-cglti blwsukt ils eggfhkbgc ey tig plrgfts `h l Niknla`

w`dlf okbbgc `f lf kftgrstltg ikaiwly wigf l crkvgr gdpb`ygc ey tig XI<nlebg fgtw`ro lpplrgftby hgbb lsbggp,nr`ssgc tig dgcklf lfc nrlsigc kft`tig vgiknbg kf wikni sig wls rkckfa.Ogvgttl Clvks, <;, ckgc kf ^gptgdegr lhtgr egkfa struno ey l truno crkvgf ey Cgffks Igrflfcgz, wi` wls ilubkfas`ufc gqukpdgft h`r ‒U`no `h B`vg

Qkti Ergt Dknilgbs.— Sig nrlsi lbs`okbbgc [lsdkf Jlnos f, <;, Clvks‛hrkgfclfc l hgbb`w stucgft lt ^`utigrf Kbbk-f`ks Wfkvgrskty. Sig blwsukt, hkbgc kfN``o N`ufty Nkrnukt N`urt, fldgs

Xkln`d Kfn.,XI-< Duskn Hkrst,7< DkfcsGftgrtlkfdgft BBN lfc Igrflfcgz lsCghgfclfts.^`urng: Niknla` Srkeufg

$<< D KBBK@F ^ GSSBGDGFS^ K F N IKNLA@ S ULKF C GLSI^

Sig Dgtrl trlfskt systgd wkbb ply $<<dkbbk`f t` sgttbg tw` wr`fahub cglti blwsukts kf Niknla` lrkskfa hr d lcglcby 5==7 trlkf cgrlkbdgft.L n`bbgagstucgft lfc l rgsglrni tgnifknklf wgrgokbbgc kf ^gptgdegr 5==7.L n`ddutgr trlkf hr`d J`bkgt t` Niknla` cgrlkbgc

wikbg nilfakfa trlnos. D`rg tilf 9=`tigrs wgrg kfjurgc kf tig cgrlkbdgft

wikni wls ebldgc `f iudlf grr r.Sigtrlkf‛s gfakfggr wls hkrgc kf 5==8.Gfak-fggr trlkfkfa ils eggf kfstktutgc ey Dgtrl skfng tig lnnkcgft. L N` o N`ufty jucag lppr`vgc tig sgttbgdgft`f F`vgdegr <5 ti .^`urng: Lss`nkltgc ]rgss

J WU[ LQLUC^ $7 D KBBK@F K F C UWFO C UKXKFA LNNKCGFS

Sig ;; Ugstlurlft nilkf ils eggf`rcgrgc t` ply $7 dkbbk`f t` l \ukfny,Dlsslniusgtts w`dlf wi` b`st kf igr lrd kf l crufo crkvkfa lnnkcgft. SigGssgx ^upgrk`r N`urt jury h`ufc tilttig nilkf‛s F`rti Lfc`vgr hlnkbkty sgrvgc tig gqukvlbgft `h gbgvgf <5-`ufng eggrs t` lf `hh-cuty gdpb`ygg

wi` bltgr cr vg tig nlr kf wikni BlurkgNbkhh`rc wls l plssgfagr. Nbkhh`rc‛s rkaitlrd wls fglrby sgvgrgc kf tig Dly 5==>

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nrlsi lfc wls gvgftulbby ldputltgc.Sig vgrcknt kfnbucgs $>.5 dkbbk`f kfcldlags lfc $<.9 dkbbk`f kf kftgrgst.Sig crufo crkvgr sgrvgc ;= clys kf jlkblhtgr pbglckfa aukbty t` crufogf crkvkfa.^`urng: Kfsurlfng J`urflb

U G^SLWULFS ^ WGC LHSGU S GGF^ O KBBGC K F

N UL^I

Sig d`tigr `h l tggflagr okbbgc kf lnrlsi kf Sgxls ks sukfa l rgstlurlft

wigrg tig `tigr crkvgr lbbgagcby crlfo t`` duni egh`rg tig iglc-`f n`bbksk`f.Sig ]blkftkhh kf igr wr`fahub cglti lfcfgabkagfng blwsukt hkbgc lalkfst

Qkfasp`rt B], c`kfa euskfgss ls Euhhlb` Qkbc Qkfas Arkbb & Elr, ks lsokfa h`r cldlags. Sw` ikai sni``b stucgfts

wgrg okbbgc wigf tig nlr tigy wgrgrkckfa kf n`bbkcgc wkti l pknoup truno trlvgbkfa kf tigkr blfg. Sigkr hrkgfccrkvkfa tig nlr wls nrktknlbby kfjurgc.Sig crufo crkvgr kf tig pknoup wlsokbbgc kf tig nrlsi `f tig flrr`w rurlbr`lc fglr Gbgntrl,Sgxls.

Sgsts rgsubts rgvglb tilt tig crufo crkvgr‛s eb``c-lbn`i`b bgvgb wls fglrby =.51% lt tig tkdg `h tig nrlsi.Silt ksd`rg tilf tirgg tkdgs tig stltg‛s bgalbbkdkt `h =.=9%. Sig blwsukt nblkdsgdpb`yggs `h Euhhlb` Qkbc Qkfas kf

Qkniktl Hlbbs, wikni ks le`ut 57 dkbgss`utiglst `h Gbgntrl, sgrvgc tig crufo

crkvgr t`` dlfy lbn`i`bkn egvgrlags kftig rgstlurlft tilt fkait prk`r t` tignrlsi.Sig sukt lbs` lbbgags tilt gdpb`y-ggs hlkbgc t` ilvg tig pr`pgr Sgxls

Lbn`i`bkn Egvgrlag N`ddkssk`f trlkf-kfa lfc nurrgft ngrtkhknltk`f nlrcs.Sig sukt n`ftgfcs tig n`dplfy ilclf gstlebksigc p`bkny gfn`urlakfagdpb`yggs t` kaf`rg aukcgbkfgs h`r sgrvkfa lbn`i`b t` kft`xknltgc nus-t`dgrs lfc tigf t` lbb`w tigd t` crkvgi`dg,gfclfagrkfa bkvgs.

Sig sukt lbbgags tilt tig d`tigr suh-

hgrgc plst lfc huturg dgftlb lfauksi,b`ss h n`dplfk`fsikp,hufgrlb gxpgfsgslfc `tigr cldlags.Sig sukt lbs` fldgstig gstltg `h tig crufo crkvgr, Fls`fI`bckfa N`., Fls`f @pgrltkfa N`. lfcFls`f ^grvkngs ls Cghgfclfts.^`urng: Lss`nkltgc ]rgss

YXKKK.LUEKSULSK@FW]CLSG

LUOLF^L^ ^ W]UGDG N @WUS @ WSBLQ^ ] L[CL[ BGFCKFA

Sig Lrolfsls ^uprgdg N`urt ilsrubgc tilt tig Lrolfsls Nigno-Nlsigrs

Lnt, l plycly bgfckfa blw, ks ufn`fstktu-tk`flb. Kftgrgstkfaby, tig Lnt wls h`ufcey tig N`urt t` eg ufn`fstktutk`flb kfkts gftkrgty. Siks wls l trgdgfc`us

vknt`ry h`r n`fsudgrs kf Lrolfsls lfci`pghubby wls l hltlb eb`w t` tigplycly b`lf silros wi` prgy `f h`boskf tilt stltg.

E KA N @D]LFKG^ C @CAG LUEKSULSK@F H @U S IGKU N BLKD^ LALKF^S @ SIGU E KA

N @D]LFKG^

N`rp`rltg gxgnutkvgs bkog lrektrltk`f wigf kt n`dgs t` cksputgs wkti tigi`bcgrs `h nrgckt nlrcs lfc wkti `tigr n`fsudgrs.Ls wg lbb of`w, lrektrltk`f ksusgc ey N`rp rltg Ldgrknl t` elr n`f-sudgrs hr`d a`kfa t` n`urt kf tig gvgft`h l cksputg.Silt kfv`bvgs l n`fsudgr n`ftrlnt `h d`st gvgry s`rt.Siks ks wiltd`rg tilf l c`zgf euskfgss trlcgar`ups wr`tg kf l bgttgr t` N`fargss kfDly le`ut tig usg `h lrektrltk`f:

Lrektrltk`f ks lf ghhknkgft, ghhgn- tkvg, lfc bgss gxpgfskvg dglfs `h rgs`bvkfa cksputgs h`r n`fsudgrs,gdpb`ygrs, kfvgst`rs, gdpb`yggslfc hrlfniksggs, kf lccktk`f t`tig dlfy euskfgssgs tilt usg tig

sldg systgd t` rgs`bvg euskfgsscksputgs.

Eut, lnn`rckfa t` l rgngft stucy, n`r-p`rltk`fs lrg hlr bgss bkogby t` usg lrek-trltk`f nblusgs kf n`ftrlnts wkti glni

`tigr tilf tigy lrg kf n`ftrlnts wkti n`fsudgrs. Silt surgby sggds t` egkfn`fskstgft wkti wilt wls t`bc t`N`fargss. Sig`c rg Gksgfegra, l blw pr`hgss`r lt N`rfgbb, egbkgvgs n`dpl-fkgs usg lrektrltk`f kf cksputgs wkti n`fsudgrs t` lv`kc nblss lntk`f blw-sukts.Sig hkfckfas ey ]r`hgss`r Gksgf-egra, wi`sg n`-luti`rs `f tig d`strgngft stucy lrg Ag`hhrgy ]. Dkbbgr `h Fgw[ ro Wfkvgrskty ^ni``b `h Blw lfc

Gdkby ^igrwkf `h N`rfgbb Blw ^ni``b,lrg f t surprkskfa.Sigkr stucy, wikni

wls cgsnrkegc kf lf lrtknbg tiks suddgr kf tig Wfkvgrskty `h Dknikalf J`urflb `h Blw Ugh`rd , kfnbucgc n`ftrlnts ey 5< ckhhgrgft tgbgn`ddufknltk`fs lfchkflfnklb sgrvkngs n`dplfkgs. Sigrgsglrnigrs h`ufc tilt n`dplfkgskfnbucgc dlfclt`ry lrektrltk`f nblusgs

kf 17% `h n`fsudgr larggdgfts,eut kf just 53% `h n`ftrlnts `vgr lbb. Gvgry n`fsudgr n`ftrlnt tigy h`ufc wkti lflrektrltk`f nblusg lbs` wlkvgc p`sskebgar`up, `r nblss, lrektrltk`f.

Kf prk`r stuckgs, kt wls cksn`vgrgctilt n`dplfkgs usgc lrektrltk`f nblusgskf just <<% `h n`ftrlnts wkti `tigr n`dplfkgs. ]r`hgss`r Gksgfegra lsos kh lrektrltk`f ks suni ‒l hlkr lfc n`st-slvkfa pr`ngss,— wiy c`f‛t tigy (ekan`dplfkgs) usg kt ‒lnr`ss tig e`lrc,—lfc ‒wiy c`f‛t tigy kfskst `f kt wigf

tigy n`ftrlnt wkti glni `tigr0— Dy gxpgrkgfng ils eggf tilt ufbgss l blragn`dplfy ils tig uppgr ilfc kf l n`f-trlnt–suni ls kf l n`ftrlnt wkti l n`f-sudgr–tigy prghgr tig n`urts ls tigpblng h`r tigkr cksputgs. I`pghubby, N`f-argss wkbb lnt fgxt yglr t` elf dlfcl-t`ry,ekfckfa lrektrltk`f kf lbb n`fsudgr n`ftrlnts lfc cksputgs.^`urng: Blwygrs W^L

N @WUS ^ L[^ E BLNOQLSGU ^ WKS Q KBB ^ SL[

K F LUEKSULSK@F

L hgcgrlb n`urt ils `rcgrgc l iglrkfa`f tig cgltis h h`ur Eblnowltgr Q rbc-

wkcg aulrcs kf Krlq elno t` prkvltglrektrltk`f.Siks wkbb sikgbc tig n`ftrln-t`r hr`d l puebkn kfvgstkaltk`f kft` tigeb``cy 5==3 ldeusi.Sig W.^. N`urt `h

Lppglbs h`r tig H`urti Nkrnukt cks-dkssgc l pgtktk`f ey tig hldkbkgs `h tigEblnowltgr aulrcs t` d`vg tig nlsgkft` puebkn n`urts. Eblnowltgr n`f-tgfcgc tilt tig dgf skafgc n`ftrlnts

tilt rgqukrgc cksputgs t` eg rgs`bvgcey n`fhkcgftklb lrektrltk`f.Sig n`urt‛srubkfa wkbb rgsubt kf tig cksputg egkfasgttbgc ey l tirgg-pgrs`f plfgb.

Sig n`urt‛s rubkfa wkbb egfghkt Eblno- wltgr lfc `tigr n`ftrlnt rs.Sig n`fhk-cgftklb iglrkfas wkbb oggp tig puebknhr`d of`wkfa i w elc Eblnowltgr rglbby ks. ]rkvltg n`ftrlnt`rs pr`hktkfa kfKrlq si`ubc eg bklebg h`r gdpb`yggkfjurkgs lfc cgltis kh tigsg n`ftrlnt`rs

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lrg l hlubt. Sigy c f‛t wlft tigkr gdpb`yggs t` ilvg lnngss t` n`urts.H`ur Eblnowltgr aulrcs–^tgpigf Igb-

vgfst`f, Dkog Sglaug, Jgro` Z`vo` lfc Qgsbgy Eltlb`fl–wgrg ldeusigc lfcokbbgc kf Hlbbujli, wgst `h Elaiclc, kfDlrni 5==3.Sig kdlags `h tigkr dutk-bltgc e`ckgs ilfakfa hr`d l erkcagsplrogc l dlsskvg `hhgfskvg ey W.^.

tr``ps kf tig nkty. L rgprgsgftltkvg h`r tig hldkbkgs `h tig h`ur dgf sugc tig n`dplfy kf

Jlfulry 5==7, nblkdkfa Eblnowltgr er`og kts n`ftrlnt ey hlkbkfa t` pr`vkcgpr`pgr gqukpdgft lfc sgnurkty wikbgtig dgf wgrg kf i`stkbg tgrrkt`ry.Signlsg wls `rcgrgc kft` lrektrltk`f kf

Lprkb 5==1. Blwygrs h`r tig hldkbkgslppglbgc l d`fti bltgr.L tirgg-jucagplfgb hr`d tig N`urt h Lppglbs rubgctig n`urt ckc f`t ilvg jurksckntk`f `vgr tig lppglb `h tig nlsg.Wfbgss tig hldk-

bkgs lppglb, tig n`fhkcgftklb lrektrltk`fplfgb wkbb oggp tig nlsg. Qigf ktn`dgs t` lnngss t` tig n`urts ey l

vkntkd `h wr`fac`kfa tiks ks l vgry slcgfckfa t` tiks dlttgr.^`urng: Sig Xkrakfklf-]kb`t

LUEKSULSK@F C GFKGC K F N UGCKS N LUC LFSKSUW^S N L^G

]blkftkhhs wi` nblkd l n`fspkrlny ey Ldgrknlf Gxprgss t` n`vgr up lf

lftktrust pb`t wkti `tigr dlj`r nrgcktnlrc n`dplfkgs `f h`rgkaf nurrgfny trlfslntk`fs ilvg w`f l vknt ry kf tigkr blwsukt. L hgcgrlb lppglbs n`urt slkctigy nlff t eg n`dpgbbgc t` lrektrltg.Sig W.^. N`urt `h Lppglbs h r tig^gn`fc Nkrnukt rubgc tig pblkftkhhsn`ubc f`t eg h`rngc kft` lrektrltk`fegnlusg Ldgrknlf Gxprgss wls f`t lskaflt`ry t` tig DlstgrNlrc, Xksl lfcCkfgrs Nbue nrgckt nlrc larggdgftstilt kfnbucgc tig lrektrltk`f nblusgs.^`urng: Fgw [ ro Blw J`urflb

YKY.FWU^KFA I@DGW]CLSG

F WU^KFA I @DG U G]@US H KFC^ Q KCG^]UGLC X K@BLSK@F^

L fgw rgp`rt ils h`ufc tilt `vgr

;<% `h furskfa i`dgs wgrg cghknkgftkf qulbkty `h nlrg lfc tigr sgrvkngs kfglni `h tig plst tirgg yglrs.Sig rgp`rtlbs` h`ufc tilt l ikaigr pgrngftlag `h h`r-pr`hkt furskfa i`dgs wgrg cghknkgfttilf wgrg f`f-pr`hkt furskfa i`dgs.

Lnn`rckfa t` W.^. Ngfsus Eurglu stltks-tkns, >9.1 dkbbk`f Ldgrknlfs lrg 87 `r `bcgr. Ey 5=>=, tilt lag ar`up wkbb rgp-

rgsgft 5=% `h tig p`publtk`f.Dlfy furskfa i`dgs ilvg l ikst`ry `h leusg lfc fgabgnt `h rgskcgfts. Kflc-gqultg stlhhkfa lfc dgcknlb grr`rs lrgquktg n`dd`f.Sig stucy, wikni wlsn`fcuntgc ey tig @hhkng `h tig Kfspgn-t`r Agfgrlb `h tig Cgplrtdgft `h Iglbti lfc Iudlf grvkngs, h`ufc tilttig d`st n`dd`f nltga`rkgs wigrgfurskfa i`dgs hgbb si`rt wgrg qulbkty `h nlrg, rgskcgft lssgssdgft lfc qulbkty `h bkhg.

Lbd`st 13% `h furskfa i`dgs kf tig

survgy wgrg nktgc h`r qulbkty-`h-nlrgcghknkgfnkgs kf 5==1.Lnnkcgft ilzlrcs wgrg `fg `h tig d`st n`dd`f kssugs. Le`ut 79% `h furskfa i`dgs wgrgnktgc h`r rgskcgft lssgssdgft pr`ebgdskfv`bvkfa pr`hgssk`flb stlfclrcs lfctig qulbkhknltk`fs `h sgrvkng pgrs`ffgb.@vgr 3>% `h hlnkbktkgs wgrg nktgc h`r qulbkty-`h-bkhg cghknkgfnkgs, suni ls b`ss`h ckafkty. Kf lccktk`f, lbd`st 3>% `h i`dgs wgrg nktgc h`r ckgtlry sgrvkng

vk`bltk`fs.Sig rgp rt h`ufc tilt <1% h furskfa i`dgs kf 5==1 wgrg nktgc h`r

nluskfa lntulb ilrd `r kddgckltg jg`p-lrcy, lfc tilt tigrg ks l trgfc t`wlrc vk`bltk`fs tilt lrg d`rg sgvgrg lfcer`lcgr kf sn`pg tilf kf tig prgvk`ustw` yglrs.Sig rgp rt lbs` akvgs l erglo-c`wf `h i`w glni stltg hlrgc.^`urng: Blwygrs W^L

Q U@FAHWB C GLSI N BLKD^ F @S ^ WEJGNS S @ LUEKSULSK@F

Sig Dkss`urk N`urt `h Lppglbs ils

rubgc tilt wr`fahub cglti nblkdser`uait lalkfst l furskfa i`dg wgrgf`t suejgnt t` lf lrektrltk`f larggdgftskafgc ey l rgskcgft‛s s`f wigf iksd`tigr wls lcdkttgc t` tig i`dg,.Sigs`f skafgc tig furskfa i`dg‛s jury trklb

wlkvgr lfc cksputg rgs`butk`f pr`ng-curg c`nudgft `f tig bkfg h`r l ‒bgalbrgprgsgftltkvg.— Sig c`nudgft n`f-tlkfgc l tw`-plag lrektrltk`f largg-dgft, wikni slkc tilt tig plrtkgslarggc t` rgs`bvg ‒lbb cksputgs lfc

nblkds ey sdlbb nblkds n`urt jucknklbpr`nggckfas r ekfckfa lrektrltk`f.—

Lhtgr tig rgskcgft ckgc,igr tirgg nikb-crgf–kfnbuckfa tig s`f tilt skafgctig larggdgft–hkbgc l wr`fahub cglti blwsukt. Sig furskfa i`dg trkgc tgfh`rng tig lrektrltk`f nblusg, eut tigtrklb jucag slkc tilt tig wr`fahub cglti nblkd wlsf‛t suejgnt t` tig lrektrltk`f

larggdgft.^`urng: Blwygrs W^L

YY.IGLBSINLUGK^^WG^

F GLUB[ 5<,=== N L^G^ –K FNBWCKFA 3,9== C GLSI^ –Q GUG U G]@USGC S @ S IG HCL K F <^S \ WLUSGU @ H 5==9

Sig fudegr `h sgrk`us pr`ebgds lfccgltis bkfogc t` dgcknltk`fs rgp`rtgct` tig a`vgrfdgft sgt l rgn`rc kf tighkrst tirgg d`ftis `h tiks yglr, lnn`rc-kfa t` l iglbti kfcustry wltnic aar`up.Sig H``c lfc Crua Lcdkfkstrl-tk`f rgngkvgc fglrby 5<,=== rgp`rts `h sgrk`us crua rglntk fs, kfnbuckfa `vgr 3,9== cgltis, lnn`rckfa t` lf lflbysks`h hgcgrlb cltl ey tig f`fpr`hkt Kfstk-tutg h`r ^lhg Dgcknltk`f ]rlntkngs,

wikni snrutkfkzgc cltl a`kfa elno t`

5==3, lfc yglrby t`tlbs cltkfa t` tig<;;=s.Sw` cruas lnn`uftgc h`r l cks-pr`p`rtk`fltgby blrag silrg `h tig bltgstrgp rts. @fg wls igplrkf, tig tlkftgceb``c tikffgr hr`d Nikfl tilt nlusgclf kftgrfltk`flb slhgty snlfclb.

Sig tigr wls Nilftkx, l fgw okfc h lftk-sd`okfa crua hr`d ]hkzgr. Nilftkx,

wikni ilc tig d st rgp`rts h lfy dgc-knltk`f, w ros ckrgntby kf l sd`ogr‛serlkf t` glsg wkticrlwlb sydpt`ds. Ktlbs` eb`nos tig pbglsurlebg ghhgnts `h fkn`tkfg kh tig pltkgft trkgs t` bkait up

lalkf. Eut glrbkgr tiks yglr, tig HCL wlrfgc tilt Nilftkx dly eg bkfogc t`psynikltrkn pr`ebgds, kfnbuckfa suknkclbegilvk`r lfc vkvkc crglds.Sig a`vgrf-dgft elffgc kt h r pkb`ts.]hkzgr stkbb slyskt stlfcs ey Nilftkx.

Sig wltnic`a ar`up, of`wf ls K^D],ils sgrvgc i`spktlbs lfc pilrdlnkstsh`r yglrs ls l nbglrkfai`usg h`r kfh`rdl-tk`f `f crua slhgty lfc dgcknltk`fgrr`rs. K^D] ks f`w rglnikfa `ut t` n`f-sudgrs wkti rgaublr rgp rts `f crua

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slhgty trgfcs,crlwf hr`d HCL rgn`rcs.Si`dls J. D``rg, l sgfk`r snkgftkst wkti tig ar`up,dlcg tiks stltgdgft:

Qg egbkgvg tilt `fg `h tig d`st kdp`rtlft t``bs t` pr`d`tg ks t`d`fkt`r trgfcs `f l rgaublr elsks.

Of`wkfa wikni cruas lrg nluskfa kfjurkgs lfc i`w dlfy pg`pbglrg egkfa iurt ks tig rlw dltgrklb wg fggc t` hlsik`f s`ufc dgls- urgs t` pr`d`tg pltkgft slhgty.

Sig HCL cghkfgs sgrk`us crua rgln-tk`fs ls ti`sg tilt nlusg i`spktlbkzl-tk`f, rgqukrg dgcknlb kftgrvgftk f, `r pblng l bkhg kf jg`plrcy. Sig lagfny‛sd`fkt`rkfa systgd rgbkgs `f v`buftlry rgp`rts hr`d c`nt`rs lfc ks `fby egbkgvgc t` nlpturg l hrlntk`f `h `vgrlbbpr`ebgds. Sig t`tlb `h 5=,137 nlsgsrgp`rtgc kf tig hkrst qulrtgr (Jlfulry–Dlrni) wls >9% ikaigr tilf tig

lvgrlag h`r tig prgvk`us h`ur nlbgfclr qulrtgrs. Kt lbs` wls tig ikaigst h r lfy qulrtgr, lfc tilt‛s d`st cksturekfa.

Hltlbktkgs lnn`uftgc h`r 5>% `h tignlsgs.Sig t`tlb fudegr `h cgltis,3,953,

wls lf kfnrglsg `h fglrby >% hr`d tigblst nlbgfclr qulrtgr `h 5==1. ]rgvk`usrgsglrni hr`d K^D] ilc rgvglbgc tiltsgrk`us crua slhgty pr`ebgds rgp`rtgct` tig HCL kfnrglsgc dlrogcby hr`d<;;9-5==7. Sig HCL nlsg rgp rtspr`vkcg l skaflb `h p`sskebg pr`ebgds

wkti l crua, eut l nlusg-lfc-ghhgnt n`f-

fgntk`f nlf fby eg gstlebksigc tir`uai plkfstlokfa kfvgstkaltk`f.

Sig K^D] stucy h`ufc tilt igplrkflnn`uftgc h`r 11; rgp`rts `h sgrk`uspr`ebgds, kfnbuckfa <=5 cgltis. SigHCL, uskfa cltl tilt n`vgrs l b`fagr tkdg pgrk`c ils rgp`rtgc 5>9 cgltisp`sskeby bkfogc t` igplrkf.Sig rgp`rth`ufc tilt Igplrkf ‒kbbustrltgs lfgxldpbg `h l skafkhknlft crua slhgty pr`ebgd tilt wls pr`dptby lfc ghhgn-tkvgby rgs`bvgc ey tig crua dlfuhlntur-grs lfc tig HCL `fng tig kssug wlscgtgntgc lfc ufcgrst``c.— Eut, kt n`f-nbucgc tilt wls f`t tig nlsg wkti Nilftkx.

Sig HCL si`ubc h`rnghubby wlrfpltkgfts tlokfa Nilftkx tilt tigy dly ilvg eblno uts lfc tigr pr`ebgds tiltn`ubc bglc t` lnnkcgfts,tig rgp`rt slkc.Sig nurrgft wlrfkfas sly tilt pltkgftsdly eg t`` kdplkrgc t` crkvg `r `pgrltg iglvy dlnikfgry, eut suni blf-aulag ks stlfclrc h`r dlfy dgcknl-

tk`fs. Silt typg wlrfkfa ks f`t lcg-qultg. Sig rgp`rt h`ufc <7 nlsgs `h Nilftkx pltkgfts wi` lppglrgc t` ilvgeggf kfv`bvgc kf trlhhkn lnnkcgfts, lfc75 lccktk`flb nlsgs kfv`bvkfa eblno uts`r b`ss `h n`fsnk`usfgss. Sig HCL rgngkvgc <,==< rgp`rts `h sgrk`uskfjurkgs p`sskeby bkfogc t` Nilftkx,d`rg tilf h`r tig tgf egst-sgbbkfa erlfc

fldg cruas n`dekfgc.Nilftkx ‒n`ftkfugc t` pr`vkcg lstrkokfa skaflb `h slhgty kssugs tiltrgqukrg kfvgstkaltk`f lfc lntk`f,—lnn`rckfa t` tig rgp`rt. Sig luti`rslnof`wbgcagc ]hkzgr‛s n`fngrf tiltpuebknkty dly eg crkvkfa up tigfudegr `h rgp rts, eut f`fgtigbgssn`fnbucgc tilt tigrg lrg gf`uai t`

wlrrlft hurtigr lntk`f ey tig HCL.]hkzgr slys tilt tig egfghkts `h Nilftkxegfghkts nbglrby `utwgkai tig rksos. Kh

y`u w`ubc bkog d`rg kfh`rdltk`f `f

tiks dlttgr, nlbb Hrlfo Q `cs`f lt 9==-9;9-5=>3 `r g-dlkb lt Hrlfo.Q``cs`fMeglsbgylbbgf.n`d.^`urng: Lss`nkltgc ]rgss

C GFSK^S^ E LNO \ WG^SK@FLEBG ^ GLBLFS^

Qg ilvg wrkttgf le`ut tig nigdknlbekspigf`b-L (E]L) kf prgvk`us kssugs.F`w lf`tigr qugstk`f lrksgs rgbltkfa t`E]L: si`ubc E]L eg usgc ey cgftksts0Silt‛s tig ckbgddl h`r plrgfts w`rrkgc

le`ut tiks n`ftr`vgrsklb suestlfngh`ufc kf tig p`publr sglblfts tilt lrgplkftgc `f nikbcrgf‛s d`blrs t` prgvgftcgnly. Sig nigdknlb, wikni ks wkcgby usgc kf tig dlokfa `h tig ilrc, nbglr pblstkn nlbbgc p`bynlre fltg, ks lbs`h`ufc kf tig bkfkfas `h h``c lfc s`ht-crkfo nlfs. D`st iudlf gxp`surg t`tig nigdknlb nbglrby n`dgs hr`d tigh``c suppby. Eut trlngs ilvg lbs` eggfh`ufc kf cgftlb sglblfts.

Lbti`uai tig H``c lfc Crua Lcdkf-kstrltk f ils rglssurgc n`fsudgrs tilt

tig nigdknlb lppglrs t` eg slhg, kt ilsrgngkvgc kfnrglskfa snrutkfy kf rgngftd`ftis hr`d iglbti `hhknklbs kf tigWfktgc ^tltgs lfc Nlflcl.Sig Fltk`flbS`xkn`b`ay ]r arld, plrt `h tigCgplrtdgft `h Iglbti lfc Iudlf ^gr-

vkngs, ils rlksgc n`fngrfs le`ut E]L,plrtknublrby `vgr nikbci``c gxp`surgt` tig trlngs tilt bglni hr`d p`bynlr-e`fltg eley e`ttbgs lfc tig bkfkfas `h kfhlft h`rdubl nlfs. Sig 5==>-3

Fltk`flb Iglbti lfc Futrktk`f Gxldkfl-tk`f ^urvgy ey tig Ngftgrs h`r CksglsgN`ftr`b lfc ]rgvgftk`f h`ufccgtgntlebg bgvgbs `h E]L kf ;>% `h urkfgsldpbgs n`bbgntgc hr`d d`rg tilf5,7== lcubts lfc nikbcrgf `vgr skx.Sikssurvgy wls c`fg kf 5==> lfc 5==3.

E]L ils gstr`agf-bkog ghhgnts, lfclfkdlb stuckgs ilvg suaagstgc tilt

gxp`surg dly lnngbgrltg puegrty lfcrlksg l p tgftklb rkso `h nlfngr. Sig j`urflb Gfvkr`fdgftlb Iglbti ]gr- spgntkvgs rgp`rtgc kf @nt`egr tilt tignigdknlb dkait kftgrhgrg wkti nigd`-tigrlpy trgltdgft.Lfc Sig J`urflb `h tig Ldgrknlf Dgcknlb Lss`nkltk`frgp`rtgc tilt lcubts wkti ikaigr bgvgbs`h E]L kf tigkr urkfg wgrg d`rg bkogby t` ilvg iglrt cksglsg `r cklegtgs.

Cgspktg tigsg n`fngrfs, tig Ldgrk-nlf Cgftlb Lss`nkltk`f rgdlkfs str`faby kf hlv`r `h sglblfts. Cgftksts f`tg tilt

fudgr`us stuckgs si`w tilt lfy gxp`-surg tigy nlusg ks fgabkakebg lfc tgd-p`rlry, blstkfa f` d`rg tilf tirggi`urs lhtgr tig kfktklb lppbknltk`f.Lfc`tigr stuckgs ilvg h`ufc f` cgtgntlebgbgvgbs `h E]L kf d`st Ldgrknlf-dlcgsglblfts. Dglfwikbg, sglblfts ilvg eggfsi`wf t` `hhgr yglrs `h pr`tgntk`flalkfst nlvktkgs. ^` tig e tt`d bkfg ksskdpby nlvktkgs vgrsus tig slhgty rksos `h E]L. ]lrgfts n`fngrfgc le`ut E]L gxp`surg si`ubc lso tigkr cgftksts

wilt typg `h sglblft tigy usg lfc

wigtigr kt ils eggf tgstgc h r E]L.^`urng: Fgw [ ro Skdgs

HCL Q LUF^ E L[GU @ XGU N BLKD^ @ F S Q@ L^]KUKF ] U@CWNS^

Sig H``c lfc Crua Lcdkfkstrltk`fslys Elygr ks dlrogtkfa s`dg lspkrkfdgcknkfgs wkti ufpr`vgf iglbti nblkds.Kf l plkr `h wlrfkfa bgttgrs, tiglagfny judpgc tig n dplfy h`r fgvgr suedkttkfa pr``h tilt tig pkbbs lrg ghhgn-

tkvg kf hkaitkfa iglrt cksglsg lfc `stg`-p`r`sks.Sig cruas lrg Elygr Q`dgf‛sB`w C`sg Lspkrkf pbus Nlbnkud lfcElygr Lspkrkf wkti Iglbti Lcvlftlag.Sig HCL slys trgltdgfts h`r iglrtcksglsg lfc `stg`p`r`sks dust egrgvkgwgc ey a`vgrfdgft snkgftksts lfcnlf‛t eg s`bc `vgr-tig-n`uftgr. Siglagfny slys, i`wgvgr, tilt f` dlj`r fgaltkvg rglntk`fs ilvg eggf rgp`rtgc

wkti tig cruas. Elygr slys kt stlfcs

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egikfc tig nblkds `f e`ti pr`cunts,slykfa tilt tigy lrgf‛t kftgfcgc t`rgpblng pr`hgssk`flb dgcknlb lcvkng.^`urng: Lss`nkltgc ]rgss

J WU[ LQLUC W ]IGBC K F S LKFSGC S WFL N L^G

Lf lppglbs n`urt ils upigbc l $>.5dkbbk`f lwlrc t` l w`dlf wi` suh-hgrgc pgrdlfgft fgrvg cldlag lhtgr gltkfa tlkftgc susik. Lbgxks ^lrtk wlslwlrcgc tig d`fgy hr`d l jury d`rgtilf tw` yglrs la`, eut tig trklb jucagkf igr nlsg `vgrturfgc tig lwlrc. @flppglb, tig H`urti Nkrnukt N`urt `h

Lppglbs rgvgrsgc tilt cgnksk`f. Ds.^lrtk egnldg kbb lhtgr gltkfa rlw liktufl lt l b`nlb nlhë kf Clfl ]`kft, NL kf

Lprkb 5==7. Igr blwsukt n`ftgfcgc tilttig tufl wls n`ftldkfltgc ey elntgrklhr`d rlw p`ubtry.

Kt wls pr`vgc lt trklb tilt Ds. ^lrtk wls tgdp`rlrkby plrlbyzgc, spgft 3;clys kf tig i`spktlb lfc lhtgrwlrc b`stduni `h igr gfcurlfng. ^ig usgc l

wlbogr h`r gkait d`ftis, `htgf ilc t`usg l wiggbnilkr lfc ilc t` cr`p `ut`h n`bbgag h`r <9 d`ftis t` ufcgra`trgltdgft lfc tigrlpy. ^ig n`ftkfugst` ilvg dusnbg splsds lfc nrldpslbd`st clkby. Ds. ^lrtk‛s dgcknlb ekbbst`tlbgc le`ut $< dkbbk`f lfc igr huturggxpgfsgs wkbb eg le`ut $< dkbbk`f.

^`urng: Lss`nkltgc ]rgss

LBLELDL A GS^ E LC A ULCG @ F ] UGSGUD - E KUSI U LFOKFA^

Lbleldl glrfgc lf H `f l Dlrni `h Ckdgs rgp`rt nlrc rlfokfa stltgs `f tigfudegr `h elekgs e`rf prgdlturgby.Sig f`fpr`hkt ar`up slkc Lbleldl ilcl prgtgrd-ekrti rltg `h <8.1% kf 5==7,lnn`rckfa t` tig d`st rgngft cltl lvlkb-lebg.Silt‛s n`dplrgc t` <5.1% fltk`f-

lbby, wikni wls lbs` l C arlcg. F` stltgglrfgc lf L `f tig rgp`rt nlrc rgbglsgcblst d`fti. S` glrf tilt arlcg, tigDlrni `h Ckdgs slkc l stltg w`ubcfggc l 1.8% prgdlturg-ekrti rltg `r b`wgr. Dltgrflb sd`okfa lfc blno `h iglbti kfsurlfng wgrg nktgc ls tig tw`blragst n`ftrkeut`rs t` prgtgrd ekrtis.Sig Dlrni `h Ckdgs w`ros t` prgvgftekrti cghgnts, prgdlturg ekrtis lfckfhlft d`rtlbkty.Qg fggc t` w`ro ilrc

t` c` l egttgr j`e kf tiks lrgl `h n`fngrf.^`urng: Lss`nkltgc ]rgss

D LF[ E GBKGXG LBB ^ SLSG^ ^ I@WBC ] L^^ LWSK^D K F^WULFNG BLQ^

Ls lbb t`` dlfy plrgfts of`w, tign`st `h egilvk`r tigrlpy h`r nikbcrgf

wkti lutksd ks vgry ikai.K ufcgrstlfc ktnlf eg ls duni ls $<,=== pgr wggo. Kegbkgvg tilt iglbti kfsurlfng si`ubc eglvlkblebg lfc lhh`rclebg kh lt lbb p`ssk-ebg. Kh lutksd lcv`nltgs agt tigkr wly,tig stltgs wkbb rgqukrg iglbti kfsurgrst` n`vgr kftgfskvg lfc n`stby egilvk`r tigrlpy h`r lutksd. Kf tig plst tw`

yglrs, skx stltgs–Sgxls, ]gffsybvlfkl, Lrkz`fl, Hb`rkcl , ^`uti Nlr`bkfl,B`uksklfl–plssgc blws rgqukrkfa suni n`vgrlag, n`stkfa kf s`dg nlsgs up t`$7=,=== l yglr pgr nikbc. Kfcklflplssgc l p``rby wrkttgf blw kf 5==<.

Sig p`wgrhub lcv`nlny ar`up Lutksd^pglos ils gfc`rsgc ekbbs kf Fgw

Jgrsgy,Xkrakfkl lfc Dknikalf lfc ks tlr-agtkfa lt bglst tgf d`rg stltgs kf 5==;,kfnbuckfa Fgw [ ro, Nlbkh`rfkl lfc@ik`. @tigr stltgs, kfnbuckfa Kbbkf ks,ilvg skdkblr ekbbs kf tig w`ros, eutti`sg stltgs lrgf‛t w`rokfa ckrgntby

wkti Lutksd ^pglos. K ld f`t lwlrg `h Lbleldl egkfa l tlragt stltg, eut kf dy `pkfk`f,kt si`ubc eg.

Egilvk`r tigrlpy h`r nikbcrgf wkti lutksd ks l fgngsskty lfc dlfy plrgftsskdpby nlf‛t lhh rc kt.Srlkfgc tigrlpksts,uskfa prkfnkpbgs `h lppbkgc egilvk`r lflbysks (LEL), nlf ngrtlkfby eg igbphub.Iglbti kfsurlfng tilt n`vgrs tigfggcgc tigrlpy ks l fgngsskty. Kt‛s f`b`fagr lnngptlebg t` lbb`w ebltlft cks-nrkdkfltk`f lalkfst pg`pbg wkti lutksd.

Lutksd ks l rlfag `h cks`rcgrs tiltikfcgr tig lekbkty t` n`ddufknltg lfckftgrlnt. Wfh rtufltgby, d`st c`nt rsegbkgvg tigrg ks f` nurg.Lf gstkdltgc

`fg kf <7= Ldgrknlf nikbcrgf ks ckla-f`sgc wkti kt. ^upp rtgrs sly egilvk r tigrlpy ils cgnlcgs `h rgsglrni egikfckt lfc nlf slvg d`fgy kf tig b`fa rufey oggpkfa pg`pbg `ut `h kfstktutk`fs.Ugsglrnigrs largg, eut sly duni rgdlkfs ufof`wf le`ut wikni tigrlpy w`ros egst h`r nikbcrgf wkti lutksd, wigtigr b`fa-tgrd alkfs dly eg lttlkfgc, lfc wigtigr kt w`ros wkti `bcgr nikbcrgf. ^`dg stltgs rgqukrg

egilvk`r tigrlpy n`vgrlag up t` lag <9`r 5<. Eut tig snkgftkhkn gvkcgfng h`r

LEL ks str`fagst h`r tig y`ufagst, lagstw` t hkvg. ^`dg rgsglrnigrs ilvgrgp`rtgc `f kfckvkculb nikbcrgf wkti lutksd wi` f` b`fagr lppglr ckslebgc

wigf tigy rglni sni``b lag.Sig d`strka`r`us stuckgs, i`wgvgr, si`w dkxgcrgsubts. Kf dy `pkfk`f, tiks ks lf kssug

tilt si`ubc eg lccrgssgc ey lbb stltgs‛bgaksbltkvg e`ckgs fgxt yglr. Kh y`ulargg, n`ftlnt tig a`vgrf`r `h y`ur stltg lfc lbs` y`ur bgaksblt`rs.^`urng: Lss`nkltgc ]rgss

YYK.GFXKU@FDGFSLBN@FNGUF^

G]L ] BLNG^ ^ SUKNSGU U GAWBLSK@F^ @ F LKUE@UFG BGLC

Sig Gfvkr`fdgftlb ]r`tgntk`f Lagfny ils hkflbby tkaitgfgc tig rgaubl-t`ry bkdkt `f lkre`rfg bglc, b`wgrkfatig bgalb dlxkdud t` l tgfti `h wilt kt

wls, `f ar`ufcs tilt kt p`sgs l d`rgsgrk`us tirglt t` y`ufa nikbcrgf tilf`hhknklbs ilc rglbkzgc.Sig nilfag, tighkrst kf >= yglrs, wls rgqukrgc ufcgr lbktkaltk`f-h`rngc sgttbgdgft. Kt nldgcgspktg l blst-dkfutg b eeykfa ghh`rt ey

elttgry rgnynbgrs lfc tig Eusi QiktgI`usg t` wglogf tig hkflb rubg. Sigblwsukt tilt er`uait le`ut tig nilfag

wls hkbgc ey tig Dkss`urk N`lbktk`f h`r tig Gfvkr`fdgft.

Sig nurrgft stlfclrc `h <.7 dknr`-arlds pgr nuekn dgtgr `h lkr ks egkfab`wgrgc t` =.<7 dknr`arlds pgr nuekndgtgr.Silt hkaurg wls kf oggpkfa wkti tig rgn`ddgfcltk`fs `h e`ti tig G]L stlhh lfc tig lagfny‛s kfcgpgfcgftNbglf Lkr nkgftkhkn Lcvks`ry N`ddkttgg,eut tig G]L‛s Nikbcrgf‛s Iglbti ]r`tgn-

tk`f Lcvks ry N`ddkttgg ilc uragc lsilrpby b`wgr bkdkt `h =.=5 dknr`arlds.

Gfvkr`fdgftlbksts ilkbgc tig cgnksk`fls l skafkhknlft puebkn iglbti lcvlfng,eut qugstk`fgc s`dg lspgnts `h tigG]L‛s pblfs h`r dglsurkfa bglc p`bbu-tk`f ufcgr tig fgw rubg. Sig vlstdlj`rkty `h lkre`rfg bglc, l fgur`t`xkftilt rgcungs y`ufa nikbcrgf‛s K\,n`dgs hr`d bglc sdgbtgrs.Sig bglc kftig lkr gvgftulbby hlbbs t` tig ar`ufc,

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lfc d`st `h nikbcrgf‛s gxp`surg n`dgshr`d kfc``r cust lfc s`kb.

^kfng <;;=, 8,=== snkgftkhkn stuckgsilvg si`wf tilt y`ufa nikbcrgf suhhgr ilrd lt duni b`wgr eb``c bglc bgvgbstilf wls rgn`afkzgc wigf tig `bcstlfclrc wls sgt kf <;19.Sig Ldgrknlf

Lnlcgdy `h ]gckltrkns kssugc l stltg-dgft prlkskfa tig G]L h`r tig fgw stlf-

clrc, eut n`ftkfugc:‒Sigrg ks f` slhgbgvgb `h bglc gxp`surg h`r nikbcrgf.— Cr.Akfl ^`b`d`f, l sgfk`r snkgftkst wkti tig lcv`nlny ar`up Flturlb Ugs`urngsCghgfsg N`ufnkb, dlcg tiks stltgdgft:

Qg n`ddgfc G]L h`r tlokfa l aklft stgp kf tig rkait ckrgntk`f,eut tigy fggc t` argltby gxplfc tig bglc-d`fkt`rkfa fgtw`ro kh tigy i`pg t` gfh`rng tiks fgw

stlfclrc. I`wgvgr, tiks Lcdkfks- trltk`f ils cksdlftbgc ilbh `h tiglkr-d`fkt`rkfa stltk`fs lnr`ss tign`uftry. Qkti bgss tilf 5== lkr bglc d`fkt rs fltk fwkcg, snkgf- tksts c`f‛t gvgf of`w i`w dunibglc ks kf tig lkr kf d`st n`ddu- fktkgs.

Sig G]L slys kt wkbb gxplfc ktsfgtw`ro t` d`fkt`r lfy s`urng tiltgdkts `fg t`f `h bglc `r d`rg l yglr kft` tig lkr, lb`fa wkti urelf lrgls

wkti p`publtk`fs `h d`rg tilf7==,===. K wlsf‛t surprksgc t` bglrftilt tig Eusi Qiktg I`usg ilc prgs-

surgc tig G]L t` snlbg elno tig d`fk-t`rkfa s` kt w`ubc lppby `fby t` blragp`publtk`f ngftgrs. Lnn`rckfa t tigG]L, tigrg lrg <8,=== s`urngs lnr`sstig n`uftry gdkttkfa <,>== t`fs `h bglckft` tig lkr glni yglr.

Kf tig Wfktgc ^tltgs, bglc ils eggfelffgc hr`d als`bkfg lfc plkft skfngtig <;1=s, lfc egtwggf <;9= lfc5==7,tig lvgrlag ld`uft h bglc kf tiglkr pbuddgtgc ey fglrby ;1%. Eut tigfgur`t`xkf c`gs f`t erglo c`wf kf tiggfvkr`fdgft, lfc bglc gxp`surg ks gbg-

vltgc kf urelf lrgls, gspgnklbby kfdkf`rkty lfc b`w-kfn`dg n`ddufktkgs.D`rg tilf >==,=== Ldgrknlf nikbcrgfckspbly lcvgrsg ghhgnts hr`d bglc p`k-s`fkfa, lfc gbgvltgc bglc gxp surg nlfrgsubt kf kfnrglsgc eb``c prgssurg lfccgnrglsgc okcfgy hufntk`f kf lcubts.

Sig fgw rgstrkntk`fs wkbb tlog hubbghhgnt kf 5=<1.Sig Kfstktutg `h Nbglf Lkr N`dplfkgs, wikni rgprgsgfts p`bbu-tk`f-n`ftr b dlfuhlnturgrs, ils slkc

tilt kt n`ubc w`ro t` lppby tgnif`b`ay nurrgftby usgc kf `tigr `pgrltk`fs t`elttgry rgnynbkfa pblfts.Sig G]L ils lnbglr cuty ‒t` pr`tgnt puebkn iglbti

wkti lf lcgqultg dlrakf `h slhgty.—Gfvkr`fdgftlb ar`ups nrktknkzgc tigG]L‛s cgnksk`f t` dglsurg bglc p`bbu-tk`f bgvgbs `vgr tirgg-d`fti lvgrlagsrltigr tilf tig `fg-d`fti lvgrlags tig

lagfny‛s snkgftkhkn lcvksgrs rgn`d-dgfcgc.Sig ar`ups sly lvgrlakfa tigrglckfas `vgr tirgg d`ftis w`ubc`esnurg spkogs kf p`bbutk`f tilt n`ubctirgltgf nikbcrgf lfc lcubts. Lt bglsttiks lntk`f ey tig G]L–rglbkzkfa tilttig Eusi nr`wc wls lalkfst lfy nilfag–ks l stgp kf tig rkait ckrgntk`f.^`urng: Qlsikfat`f ]`st

S IG E W^I LCDKFK^SULSK@F ^ I@WBC E G I GBC LNN@WFSLEBG

Sig Eusi Qiktg I`usg ils c`fgd`rg t` gfclfagr tig iglbti lfc slhgty `h tig Ldgrknlf pg`pbg tilf d`st h`bosrglbkzg. Kf hlnt, K ilvg fgvgr sggf l

w`rsg Lcdkfkstrltk`f wigf kt n`dgs t`pr`tgntkfa tig iglbti lfc slhgty `h tig

Ldgrknlf pg`pbg. Sigy ilvg w`rogc`pgfby kf dlfy nlsgs lfc egikfc tigsngfg kf `tigrs t` dlog tig lkr lfc

wltgr d`rg rksoy? tig w`ropblng bgssslhg? pr`cunts d`rg clfagr`us? cruasd`rg gxpgfskvg–lfc tig bkst a`gs `f

curkfa tig hkflb clys `h tig Lcdkfkstrl-tk`f. Sig ]rgskcgft lfc iks alfa lrgc`kfa gvgrytikfa wktikf tigkr p`wgr t`ply elno tigkr n`rp rltg eucckgs.I`pg-hubby, tigrg lrg gf`uai a``c pg`pbg kftig rgaublt`ry lagfnkgs lfc tig vlrk`uscgplrtdgfts `h tig hgcgrlb a`vgrfdgftt` lt bglst sb`w c`wf wilt tig Eusi nr`wc ks trykfa t c`. Kt wkbb eg up t`tig @eldl Lcdkfkstrltk`f lfc tig fgw N`fargss t` rgvgrsg lbb `h tig elc stuhh tig Eusi Qiktg I`usg ils c`fg.^`urng: ^lnrldgft` Egg

G]L @ XGU^SLSKFA G FH@UNGDGFS U GN@UC

Lnn`uftkfa prlntkngs lt tig Gfvkr`f-dgftlb ]r`tgntk`f Lagfny ilvg igbpgct` ikcg i`w duni tig Eusi Lcdkfkstrl-tk`f ils sblsigc pgflbtkgs lalkfst p`b-butgrs, lnn`rckfa t` N`fargssk`flbkfvgstkalt`rs.L A`vgrfdgft Lnn`uft-lekbkty @hhkng rgp`rt slys tig G]L ils

`vgrstltgc kts gfh`rngdgft `h gfvkr`f-d gftlb vk`bltk`fs t` tig puebkn lfc t`N`fargss ey kfnbuckfa hkfgs tilt dly fgvgr eg plkc wigf kt tlbbkgs pgflbtkgs.G]L `hhknklbs nblkd tilt‛s tig wly tiglagfny ils lbwlys rgp`rtgc hkfgs.

Hkfgs bgvkgc lalkfst p`bbutgrs ey tigG]L cgnrglsgc hr`d $53=.8 dkbbk`f kf<;;9 t` $<>1.1 dkbbk`f kf 5==1. Sig

bgvkgc hkfgs kf 5==3, 5==7 lfc 5==8kfnbucgc l t`tlb `h $551.5 dkbbk`f kf s`-nlbbgc cghlubt jucadgfts. Sig lagfny lcdkttgc tigsg ilrc-t`-n`bbgnt hkfgs

wgrg blragr kf ti`sg yglrs,eut slkc tigy lrg ufbkogby t` eg n`bbgntgc. Ugd`vkfati`sg pgflbtkgs ‒rgsubts kf l skafkhknlftrgcuntk`f kf tig `vgrlbb bgvgb `h pgflb-tkgs rgp`rtgc,— lnn`rckfa t` tig [email protected]`usg Gfgray lfc N`ddgrng N`ddkt-tgg Nilkrdlf Ugp. J`if Ckfagbb (C-DK),

wi` rgqugstgc tig AL@ kfvgstkaltk`f,lnnusgc tig G]L `h trykfa t` n`vgr up

kts gfh`rngdgft rgn`rc.Sig blwdlogr slys,‒tig e`tt`d bkfg ks tilt gfvkr`f-dgftlb gfh`rngdgft ils skafkhknlftby cgnbkfgc skfng tig Eusi Lcdkfkstrltk`ft``o `hhkng.—^`urng: Lss`nkltgc ]rgss

^ GSSBGDGFS U GLNIGC @ XGU N IGDKNLB^ SGFNI

Kf Jufg, 5==8,nigdknlbs hr`d l pblft`wfgc ey ]ikbkp ^grvkngs N`rp., wigrg

wlstgwltgr wls trgltgc lfc sgft t`Hubt`f N`ufty, Ag`rakl, egalf nluskfal nigdknlb stgfni. Le`ut 5,=== rgsk-cgfts nblkdgc tig `c`r lfc nigdknlbsnlusgc iglbti pr`ebgds lfc dlcg tigkr bkvgs ufeglrlebg.Lt kssug wgrg wltgr sikpdgfts hr`d Lbleldl n`ftlkfkfatig larknubturlb pgstknkcg gti`pr`p lfclf `c`rkzgr lccktkvg nlbbgc pr`pyb dgr-nlptlf. Gti`pr p, lbs` of wf lsD`nlp,ks bgtilb t` iudlfs lfc wkbcbkhgkf blrag qulftktkgs lfc ks l of`wfiudlf nlrnkf`agf.Sig pr`pyb dgrnlp-

tlf, n`dd`fby lccgc t` pgstknkcgs lfcflturlb als ls l wlrfkfa lagft, nlfnlusg iglclnigs, flusgl, ckzzkfgss lfcsokf krrktltk`f.

Sgxls-elsgc ]ikbkp ^grvkngs ilslarggc t` l $3 dkbbk`f sgttbgdgft

wikni ks snigcubgc t` eg hkflbkzgc kf Lprkb. Cgspktg tig sgttbgdgft, dlfy `h ti`sg wi` bkvg nb`sgst t` tig pblft lrgf`t sltkshkgc. ^`dg sly tig nigdknlbstilt nlusgc tig sdgbb lbs` nlusgc

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sgrk`us iglbti pr`ebgds tilt ilvg eggfgktigr kaf`rgc `r n`vgrgc up ey b`nlb,stltg lfc hgcgrlb `hhknklbs. Dlfy rgsk-cgfts wlft tig pblft siut c`wf. Sigpblft ks egkfa ebldgc h`r tig rlpkccgtgrk`rltk`f kf tig iglbti `h rgskcgfts.Dlfy egbkgvg tigy lrg egkfa p`ks`fgc,lnn`rckfa t` dgckl lnn`ufts. I`wgvgr,stltg lfc hgcgrlb iglbti `hhknklbs ilvg

rgp`rtgc tilt tig `c`r wls f`t nlusgcey ilzlrc`us bgvgbs `h tig nigdknlbs.Silt rgp`rt wls rgbglsgc kf Dlrni.

Kf bltg Jufg 5==8, ]ikbkp ^grvkngsrgngkvgc d`rg tilf >= sikpdgfts `h

wlstg wltgr h`r trgltdgft hr`d Lbleldl. Sig wlstg wltgr n`ftlkfgctig gti`pr`p lfc pr`pyb dgrnlptlf.@f Jufg 5; ti , ]^N rgngkvgc lf`tigr h`ur sikpdgfts tilt kt rgjgntgc lhtgr tgstssi`wgc ikai n`fngftrltk`fs `h tignigdknlbs. Ey tigf, tig f`xk`us `fk`flr`dl wls lbrglcy kf tig lkr `h tiks rgsk-

cgftklb lrgl. ^`dg rgskcgfts slkc tigy sgft tigkr nikbcrgf lwly h`r tigsuddgr, egnlusg tigy egbkgvgc tignigdknlbs n`ubc ilrd tigd. @tigrsslkc tigy wgrg lhrlkc t` d`w tigkr blwfs lfc t` gfalag kf `utskcg lntkvk-tkgs.N`ufty hhknklbs kfvgstkaltgc.

]ikbkp ^grvkngs wkticrgw kts rgqugsth`r l fgw cksnilrag pgrdkt lhtgr Hubt`fN`ufty lff`ufngc kt w`ubc f`t rgfgw tig pgrdkt. ]ikbkp ^grvkngs lbs` larggcf`t t` sggo l cksnilrag pgrdkt h`r skx

yglrs.Sigrg ilvg eggf `tigr nilfags lt

tig pblft. H`r gxldpbg, nigdknlbs lrgf` b`fagr trgltgc lt tig pblft. ]ikbkp^grvkngs, ufcgr tig aukclfng `h tigAg`rakl Gfvkr`fdgftlb ]r`tgntk`f Ckvk-sk`f, ks nb`skfa tig pkt wigrg sue-stlfngs bkog rgstlurlft arglsg lrgn`fvgrtgc kft` s`bkcs.^`urng: Ltblftl J`urflb N`fstktutk`f

N @F^SGBBLSK@F ^ GSSBG^ H B[ -L^I ^ WKS

L ar`up h rgskcgfts `h Lffg Lrufcgb

N`ufty, DC,wi`sg crkfokfa wltgr wlsn`ftldkfltgc wkti n lb lsi, ilvgrglnigc l dubtkdkbbk`f-c`bblr sgttbg-dgft kf l nblss lntk`f blwsukt lalkfstN`fstgbbltk`f Gfgray Ar`up.Sig sgttbg-dgft, gstkdltgc lt $37 dkbbk`f, akvgsle`ut 8== rgskcgfts bkvkfa fglr lh`rdgr Alderkbbs slfc lfc arlvgb dkfghkflfnklb n`dpgfsltk`f lfc gfvkr`f-dgftlb rgdgckltk`f. H`r <5 yglrs uftkbblst hlbb, N`fstgbbltk`f w`rogc wkti ln`ftrlnt`r t` cudp ekbbk`fs `h t`fs `h

wlstg lsi hr`d kts Erlfc`f ^i`rgs n`lb-hkrgc p`wgr pblft kft` lf ufbkfgch`rdgr arlvgb dkfg pkt. N`ufty tgstsh`ufc tilt 5> wgbbs kf tig lrgl tgstgcp`sktkvg h`r dgtlbs suni ls lrsgfkn,nlcdkud lfc tilbbkud, lbb n`dp`fgfts`h wlstg lsi hr`d sd`ogstlnos, lbs`nlbbgc ‒hby lsi.—

L sukt sggokfa t` rgprgsgft b`nlb rgsk-

cgfts wls hkbgc kf F`vgdegr 5==1 kfElbtkd`rg Nkrnukt N`urt t` dlog N`f-stgbbltk`f ply ufspgnkhkgc cldlags h`r pgrs`flb kfjurkgs lfc b`ss `h pr`pgrty

vlbugs. Ilsslf Durpiy, dlflakfaplrtfgr `h Sig Durpiy Hkrd kf Elbtk-d`rg, wikni w`rogc wkti ]gtgr A.

Lfagb`s‛ blw hkrd t` rgs`bvg tigblwsukt, ilc tiks t` sly:

Siks n`ddufkty ils rglbby suh- hgrgc, lfc tiks ks tig hkrst stgp kftig iglbkfa pr`ngss h`r tigd. Kt rglbby pr`vkcgs tilt pg`pbg n`ubc crkfo wltgr slhgby, lfc tigy‛bb egcrlwkfa hr`d puebkn wltgr. Signikbcrgf lfc hldkbkgs nlf n`f- tkfug t` bkvg kf tigkr i`dgs slhgby.

Wfcgr tig sgttbgdgft, 93 i`dgs–prgvk`usby n`ffgntgc t` prkvltg wgbbs,s`dg `h wikni tgstgc p`sktkvg h`r n`f-tldkflfts–wkbb eg i``ogc up t` lpuebkn wltgr systgd lt l n`st `h $1.7dkbbk`f plkc h`r ey N`fstgbbltk`f,Durpiy slkc.Ugskcgfts `h ti`sg i`usg-i`bcs lbs` wkbb ilvg lnngss t` l $;.7

dkbbk`f trust hufc h`r nblkds lfc t`pr`vkcg sktg gfilfngdgfts.L sgn`fchufc, h`r $7==,===, wkbb eg gstlebksigch`r lcj`kfkfa pr`pgrty `wfgrs.Sig sgt-tbgdgft lbs` n`vgrs lf ufspgnkhkgcld`uft h`r rgdgckltk`f lfc rgst`rltk`f`h tig h`rdgr qulrry sktg lfc l n`ddkt-dgft t` nglsg huturg cgbkvgrkgs `h n`lblsi. Sig sgttbgdgft ks suejgnt tlppr`vlb ey tig nkrnukt n`urt.^`urng: Elbtkd`rg ^uf

] K]GBKFG H KUD S @ ] L[ H KFG H @U ^ ]KBB^

]blftltk`f ]kpg Bkfg ils larggc t`ply l $157,=== nkvkb pgflbty h`r spkbbs `h

jgt hugb lfc als`bkfg kf Xkrakfkl, Ag`rakllfc F`rti Nlr`bkfl.Sig n`dplfy lbs`larggc t` $<.> dkbbk`f kf fgw spkbb prg-

vgftk`f slhgaulrcs t` sgttbg l blwsukt`vgr Nbglf Qltgr Lnt vk`bltk`fs. Sigblwsukt nktgc tig n`dplfy‛s hlkburg t`ilvg l spkbb prgvgftk`f, n`ftr`b lfcn`uftgrdglsurg pblf h`r l 35=,===-

albb`f `kb st`rlag tlfo lt Fgwkfat`f, Xkrakfkl . @hhknklbs slkc tilt `f Jlfulry <=, 5===, lt bglst <== elrrgbs `h jgt hugbbglogc hr`d l pkpgbkfg kf Fgwkfat`f,lfc s`dg wgft kft` Lnn`tkfo Nrggo.

Lbs` nktgc wgrg spkbbs lhhgntkfa strgldskf Lbgxlfcrkl,XL, kf 5==5? Iubb, AL, kf5==>?lfc Nilrb`ttg,FN, tw` yglrs la`.^`urng: Lss`nkltgc ]rgss

I KAI BGXGB^ @ H N-9 C K^N@XGUGC K F C W ] @FS ‛ N IKFG^G Q @UOGU^

Lnn`rckfa t` rgp`rts hkbgc ey Cu] ft wkti tig Wfktgc ^tltgs Gfvkr`fdgftlb]r`tgntk`f Lagfny, Nikfgsg w`rogrs lttigkr fgw Nilfasiu pblft ilvg crldlt-knlbby kfnrglsgc eb``c bgvgbs `h ldd`-fkud pgrhbu`r`ntlf`ltg, lbs` of`wf ls]H@L `r N-9.Sig n`dplfy `pgfgc tighlnkbkty blst yglr. Kf Dly `h blst yglr,Cu]`ft rgp`rtgc bgvgbs ld`fa w`rogrs

wgrg just bgss tilf 7= plrts pgr ekbbk`f(ppe). @fg yglr bltgr, ti`sg bgvgbs ilcrksgf crldltknlbby t 5,57= ppe. Sikskfnrglsg ks surprkskfa n`fskcgrkfaCu]`ft‛s pr`dksg t` dlog dlj`r rgcun-tk`fs kf gdkssk`fs lfc w`rogr gxp`-surg t` N-9.

Si`uai rgaublt`rs ilvg f`t ygt sgt lhgcgrlb w`ropblng gxp`surg stlfclrch`r N-9, snkgftkhkn gvkcgfng ks d`uftkfals t` tig clfagr`us ghhgnts `h tignigdknlb.Sig rgp`rts `f tig Nikfgsg

w`rogrs ilvg Ldgrknlfs w`rrkgc tilttigy t`` lrg lt rkso. Cu]`ft nurrgftby `pgrltgs pblfts tilt dlfuhlnturg,ilfcbg, `r usg N-9 kf Cggpwltgr, FJ?]lrogrseura,QX? ]lrbkf, FJ? lfc Hlygt-tgvkbbg, FN.Q`rogrs lt tigsg Ldgrknlfhlnkbktkgs ilvg rgp rtgc N-9 bgvgbs lsikai ls <,8== ppe.

Qigf Cu]`ft eukbt tig hlnkbkty kfNilfasiu, tig n`dplfy kfstlbbgc ktsfgw Gnigb`f tgnif`b`ay lbb`wkfa tign`dplfy t` pr`cung ‒b`w-]H@L— pr`c-unts lfc n`ftr`bs t` bkdkt tig N-9 gdks-

sk`fs lfc w`rogr gxp`surg t` tignigdknlb. [gt tiks ‒stltg `h tig lrt—gqukpdgft ils hlkbgc t` pr`tgnt tig

w`rogrs hr`d gxp`surg. Sig n`dplfy ks lbrglcy w`rokfa t` kdpr`vg tig vgf-tkbltk`f lt tig hlnkbkty? i`wgvgr, skfngCu]`ft‛s Nikfgsg w`rogrs ilvg lflvgrlag `h 5,57= ppe `h ]H@L kf tigkr eb``c, kt‛s nbglr tilt Cu]`ft wkbb ilvgt` kdpr`vg l b`t d`rg lt tig Nilfasiupblft tilf just kts vgftkbltk`f systgd.^`urng:Sig Nilrbgst`f Alzgttg

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YYKK.SIG N@F^WDGUN@UFGU

HCL Q KBB G SLEBK^I LF @ HHKNG K F N IKFL

Kt‛s egkfa rgp`rtgc tilt tig H``c lfcCrua Lcdkfkstrltk`f wkbb gstlebksi ktshkrst `hhkng kf Nikfl egh`rg tig gfc `h tig yglr. Kt‛s plrt `h l er`lcgr pblf t`lssurg tig slhgty `h kdp`rts hr`d tigcgvgb`pkfa w rbc. N`ddkssk`fgr

Lfcrgw v`f Gsnigfelni slys tig HCL pblfs t` pblng d`rg tilf 8= h``c lfccrua rgaublt`rs w`rbcwkcg `vgr tigfgxt yglr. Sig dlkf h`nus wkbb eg `fKfckl, Bltkf Ldgrknl lfc tig DkccbgGlst.Sig pblf h`r pgrdlfgft `utp`stsdlros l erglo hr`d tig lagfny‛snurrgft prlntkng `h sgfckfa kfspgnt`rsler`lc `f kfckvkculb lsskafdgfts.SigHCL ils eggf nrktknkzgc h`r blx `vgr-skait h`r l a``c rgls`f lhtgr l strkfa `h slhgty pr`ebgds wkti kdp`rtgc pr`c-unts, kfnbuckfa n ftldkfltgc eb``c-tikffkfa cruas. Dlfy iglbti lfc slhgty gxpgrts–ls wgbb ls fudgr`us n`f-sudgr lcv`nltgs–egbkgvg tig HCL fggcs l dlj`r `vgrilub lfc i`pghubby tilt wkbb ilppgf fgxt yglr.^`urng: Lss`nkltgc ]rgss

<,7== C @A^ K F N IKFL C KG H U@D S LKFSGC H GGC

^`dg <,7== c`as ergc h`r tigkr rlnn``f-bkog hur ilvg ckgc lhtgr gltkfahggc tlkftgc wkti dgbldkfg, rlkskfaqugstk`fs le`ut i`w wkcgsprglc tigkfcustrklb nigdknlb ks kf Nikfl‛s h``cnilkf. Sig rgvgbltk`f n`dgs ldkc lnrksks `vgr clkry pr`cunts tlkftgc wkti dgbldkfg tilt ils nlusgc okcfgy st`fgs kf tgfs `h ti`uslfcs `h Nikfgsgnikbcrgf lfc ils eggf bkfogc t` tigcgltis `h h`ur kfhlfts. Sig rlnn` fc`as–l erggc fltkvg t` Glst Lskl

wi`sg hur ks usgc t` trkd n`lts lfc`tigr nb`tikfa–ckgc `h okcfgy hlkburglhtgr gltkfa tig tlkftgc hggc. L vgtgrk-flry pr`hgss`r rgp`rtgc tilt dgbldkfg

wls h`ufc kf tig c`as‛hggc.Lbs`,kt wlsrgp`rtgc tilt 57% `h tig st`fgs kf tigc`as‛ okcfgys wgrg dlcg up `h dgbldkfg. L fgnr`psy–lf lfkdlblut`psy–wls pgrh`rdgc `f le`ut lc`zgf c`as.

Sig lfkdlb cgltis wgrg l rgdkfcgr `h blst yglr‛s snlfclb `vgr l Nikfgsg-dlcg pgt h``c kfargckgft n`ftlkfkfadgbldkfg tilt wls bkfogc t` tig cgltis`h c`zgfs `h c`as lfc nlts kf tigWfktgc ^tltgs. Ls y`u of`w, tiksrgsubtgc kf l dlsskvg pgt h``c rgnlbb.Ulnn``f c`as lrg f`t tig `fby lfkdlbskf Nikfl tilt ilvg hlbbgf vkntkd t`

dgbldkfg-tlkftgc pr`cunts–l bk`f nuelfc tw` eley `rlfautlfs cgvgb`pgcokcfgy st`fgs rgngftby lt l z`` fglr ^ilfailk.Sig tirgg eley lfkdlbs ilceggf fursgc h`r d`rg tilf l yglr wkti dkbo p`wcgr dlcg ey tig ^lfbu Ar`upN`., wikni ks lt tig ngftgr `h tigtlkftgc dkbo nrksks.Dgbldkfg ils eggfh`ufc kf l wkcg rlfag `h Nikfgsg-dlcgclkry pr`cunts `vgr tig plst sgvgrlbd`ftis. Sig Nikfgsg a vgrfdgft ksstkbb trykfa t` wkf elno n`fsudgr n`fhk-cgfng lhtgr tlkftgc pr`cunts turfgc up

`f st`rg sigbvgs lr`ufc tig w`rbc. Qigf kfagstgc ey iudlfs,dgbldkfg–wikni ks usgc kf pblstknslfc hgrtkbkzgrs–nlf nlusg okcfgy st`fgs ls tig e`cy trkgs t` gbkdkfltg kt,lfc kf gxtrgdg nlsgs nlf bglc t` okcfgy hlkburg. Elekgs lrg plrtknublrby vubfgrl-ebg. Sig n`dplfy tilt pr`cungs tiglfkdlb hggc put prgssurg `f tig c`as‛erggcgrs f`t t` tlbo t` tig dgckl.Sigy lbs` wgrg trykfa t` qukgtby sgttbg ey plykfa n`dpgfsltk`f t` tig erggcgrs.^`urng: Lss`nkltgc ]rgss lfc LEN Fgws

BLQ^WKS H KBGC LHSGU N @^SWDG N LSNIG^ H KUG

I`pghubby, tig Ilbb`wggf wggogfcplssgc wkti f` sgrk`us pr`ebgds hr`dl iglbti lfc slhgty pgrspgntkvg.Qikbgdlfy plrgfts w`rrkgc le`ut nlfcy lfcstrlfagrs lt Ilbb`wggf, tigy rglbby si`ubc eg lwlrg `h s`dgtikfa gbsg–hblddlebg n`studgs. Lf kfnkcgft kf

Jlnos`fvkbbg,Hb`rkcl, a`t l arglt cglb `h

lttgftk`f.L d`tigr tigrg slkc igr s`fils eurfs lbb `vgr iks e`cy lhtgr iksn`studg nluait hkrg.Sig e`y‛s d`tigr purnilsgc tig n`studg lt l Qlb-Dlrt,f`t rglbkzkfa tig `uthkt w`ubc nltni hkrgglskby.Ls kt turfs `ut, d`st Ilbb`wggfn`studgs ilvg tig sldg hblddlekbkty stlfclrcs ls l pkgng `h fgwsplpgr. Hkrg-hkaitgrs ilvg cgd`fstrltgc i`w ln`studg nlf a` up kf hbldgs kf ldlttgr `h sgn`fcs.

D`st n`studgs s`bc kf st`rgs lrgdlcg kf Nikfl wkti hlerkn tilt ks hbld-dlebg lfc ilzlrc`us.Sig h`ur-yglr-`bcHb`rkcl e`y lnnkcgftlbby bkt ikdsgbh `fhkrg wikbg wglrkfa iks Ilbb`wggfn`studg blst yglr. Sig hlerkn wls f`thbldg-rgskstlft, lfc fglrby 3=% `h ikse`cy wls eurfgc.Sig n`studg, wikni

wls dlcg ey Cksauksg Kfn. lfc s`bc lt

Qlb-Dlrt,ilc f` wlrfkfa blegb.Sig nikbc‛s d`tigr hkbgc sukt lfc sig wlfts t uaigr rgaubltk`fs dlokfa glni lfc gvgry n`studg hbldg-rgskstlft.]lrgfts si`ubc b``o h`r blegbs stltkfatilt n`studgs lrg dlcg hr`d hbldg-rgskstlft hlerkn `r hbldg-rgtlrclft dltg-rklbs. Siks ks l dlttgr `h slhgty. Sign`studgs si`ubc eg dlcg `ut `h hbldg-rgskstlft dltgrklbs.^`urng: Fgw3Jlx.n`d

H B@UKCL ^ WG^ K D]GUKLB D LJG^S[ H @U U GHWFC @ H ^ WUNILUAG

Hb`rkcl Ltt`rfgy Agfgrlb Ekbb DnN`b-bud ils hkbgc l blwsukt lalkfst KdpgrklbDljgsty Nruksg Bkfg. Sig n`dplfy kslnnusgc `h dlokfa le`ut $3 dkbbk`f kftig plst tw` yglrs ey ikckfa l sur-nilrag kf kts nust`dgrs‛ ekbbs. SigEr`wlrc N`ufty nrukskfa n`dplfy,of`wf h`r tw`-fkait trkps t` tigElildls, ils lccgc hugb surnilrags `h $5= t` $>= `ft` ekbbs skfng bltg 5==8

wkti`ut lcgqultgby cksnb`skfa tig hggst` kts nust`dgrs.Kdpgrklb Dljgsty gktigr ckc f`t

kfnbucg kfh`rdltk`f le`ut tig hggs kfkts er`niurgs lfc `f kts wgesktg `r kfck-nltgc tilt tig nilrags wgrg a`vgrf-dgft tlxgs `r hggs. Sig blwsuktcgdlfcs tilt Kdpgrklb Dljgsty rghufctig lppr`xkdltgby $3 dkbbk`f n`bbgntgctir`uai rgtr`lntkvg surnilrags lfcrgvksg kts lcvgrtkskfa prlntkngs t` eguphr`ft le`ut lbb nilrags.Sig Ltt`rfgy Agfgrlb‛s `hhkng b``ogc kft` tig nruksg

bkfg‛s surnilrags lhtgr rgngkvkfa n`d-pblkfts hr`d nust`dgrs, dlfy `h wi`dbglrfgc le`ut tig gxtrl hggs wigflrrkvkfa h`r tigkr nruksg. Sig blwsukt

wls hkbgc le`ut skx d`ftis lhtgr tig Ltt`rfgy Agfgrlb rglnigc dubtkdkbbk`f-c`bblr sgttbgdgfts wkti Nlrfkvlb, U`ylbNlrkeeglf lfc Ngbgerkty Nruksgs `vgr tig sldg kssug.^`urng: Dkldk Igrlbc

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LCXKNG S @ ] LUGFS^ @ F S IG W G @ H N UKE^

Sigrg ilvg eggf l fudegr `h nrkergnlbbs kf tig W.^. Ugngftby, tig N]^Nuragc e`ti plrgfts lfc nlrgakvgrs t`nb`sgby kfspgnt tig ilrcwlrg lfc stlekb-kty `h tigkr nrkes t` gfsurg lbb plrts lrgkf pblng lfc sgnurg. Igrg lrg s`dgslhgty tkps h`r lbb nrkes:

• ]lrgfts si ubc f t usg lfy nrke wkti dksskfa,er`ogf r b``sg plrts.

• Ilrcwlrg si`ubc eg kfspgntgc hr`dtkdg t` tkdg lfc tkaitgfgc t` oggptig nrke sturcy.

• Qigf uskfa l cr`p-skcg nrke, plrgftssi`ubc nigno t` dlog surg tig cr`pskcg `r lfy `tigr d`vkfa plrt `pgr-ltgs sd``tiby.

• Lbwlys nigno lbb skcgs lfc n rfgrs `h tig nrke h`r cksgfalagdgft.Lfy cks-

gfalagdgft nlf nrgltg l alp lfcgftrlp l nikbc.

• C` f`t try t` rgplkr lfy skcg `h tignrke wkti lccktk`flb ilrcwlrg, tlpg,

wkrg `r r`pg.

• ]uttkfa l er`ogf skcg up lalkfst tig wlbb c`gs f`t s`bvg tig pr`ebgd lfcnlf `htgf dlog kt w rsg.

^kfng tig nrgltk`f `h tig N]^N Glrby Qlrfkfa ^ystgd kf hlbb `h 5==1, tiglagfny ils n`fcuntgc hkvg nrke rgnlbbs

wigrg tig ilrcwlrg wls er`ogf,dksskfa `r `tigrwksg hlkbgc t` hufntk`f.

Nrkes wkti cr`p skcgs lrg d`st bkogby t` gxpgrkgfng ilrcwlrg pr`ebgds cugt` tig d`vkfa plrts lfc f`f-rkakc n`f-fgntk`fs. Cr`p-skcg n`rfgrs nlf cksgf-alag hr`d tig trlnos b`nltgc `f tignrke gfcs lfc slhgty st`ps dly egn`dgf`fhufntk`flb,pgrdkttkfa tig cr`p skcgt` cgtlni hr`d tig nrke.Sigsg typgs `h cghgnts lrg `htgf ufcgtgntgc ey plrgfts `r nlrgakvgrs lfc nlf w`rsgf

wigf tig eley pusigs `r bglfs lalkfsttig skcg `h tig nrke.^`urng: N]^N

N LU ^ WUHKFA K ^ C WDE LFC C LFAGU@W^

Sggflagrs lrg agttkfa kfjurgc `r okbbgcey rkckfa `f tig `utskcg `h l d`vkfa

vgiknbg–lf lntkvkty of`wf ls nlr surhkfa–lnn`rckfa t` l Ngftgrs h`r Cksglsg N`ftr`b lfc ]rgvgftk`f (NCN)rgvkgw `h fgwsplpgr lrtknbgs.Sig kfh`r-

dltk`f wls rgbglsgc kf tig D`rekcktylfc D`rtlbkty Qggoby Ugp`rt . Sigrgp`rt lbs` f`tgc tilt nlr surhkfakfjurkgs lfc cgltis wgrg rgp`rtgc lt l

wkcg rlfag `h vgiknbg spggcs, hr`d lsb`w ls 7 dpi up t 9= dpi. NCNrgsglrnigrs gxldkfgc <9 yglrs `h fgwsrgp`rts hr`d Jlfulry <;;= t` Luaust5==9 uskfa l fgwsplpgr lrtknbg cltl-

elsg.Sig rgsglrnigrs h`ufc ;; rgp`rtgckfnkcgfts `h nlr surhkfa, 79% `h wikni wgrg hltlb. Sig h`bb`wkfa n`fnbusk`fs wgrg rglnigc ey tig rgsglrnigrs:

• Kf tig fgws st rkgs rgvkgwgc, tiglvgrlag lag `h ti`sg kfjurgc `r okbbgc

wls <1.8, wkti dlbgs lnn`uftkfa h`r 1=% `h tig vkntkds.

• Sig blragst fudegr `h nlr surhkfakfjurkgs lfc cgltis rgp`rtgc kf W.^.fgwsplpgrs `nnurrgc kf Luaust.D`st (13%) `h tig fgws st`rkgs

kfv`bvgc kfnkcgfts kf tig Dkcwgstlfc tig ^`uti.

• Sirgg ut `h h ur `h tig fgws st`rkgsrgp`rtgc nlr surhkfa cgltis wgrgnlusgc ey l eudp `r eb`w t` tigiglc.

• Sig fgws st`rkgs lbs` suaagst tiltnlr surhkfa dly eg e`ti sgls`flb lfcrgak`flb kf flturg.

Sig dgckl lflbysks lbs` h`ufc tilt kf5;% `h kfnkcgfts, l succgf d`vgdgft

`r dlfguvgr wls dgftk`fgc, suni lslf lerupt turf `r succgf erlokfa, wikni nlusgc tig pgrs`f nlr surhkfa t`hlbb `hh tig vgiknbg.Sigsg typgs `h hlbbsnlf rgsubt kf sgrk`us kfjurkgs `r cglti,gvgf lt sb`w spggcs. Nlr surhkfa ks f`t`fby l cude tikfa t` c`–kt‛s lbs` vgry clfagr`us.^`urng: QUCQ

YYKKK.

UGNLBB^ W]CLSG

Sigrg ilvg eggf l vgry blrag fudegr `h pr`cunt rgnlbbs bltgby n`vgrkfa ler`lc rlfag h pr`cunts.K ld kfnbuckfal hgw `h tig rgnlbbs kf tiks kssug. Kt‛s la``c kcgl t` nigno `f rgnlbbs t` dlogsurg f`fg lrg dkssgc tilt lhhgnt y`u `r lfy `h y`ur hldkby.

N IU[^BGU U GNLBB^ 5=,=== C @CAG ] @BKNG N LU^

Nirysbgr ks rgnlbbkfa 5=,59> 5==8-‛=; C`cag Nilragr lfc Dlafud

vgiknbgs eukbt wkti tig p`bkngplnolag gqukppgc wkti l n`budfsikhtgr. Sig Fltk flb Ikaiwly Srlhhkn ^lhgty Lcdkfkstrltk`f slys

tig aglrsikht nlebg dly egn`dgcksgfalagc hr`d tig stggrkfan`budf d`uftkfa erlnogt lfcnlusg lf kfn`rrgnt trlfsdkssk`faglrsikht p`sktk`f ckspbly. ‒Siksn`ubc lbb`w tig vgiknbg t` d`vgkflcvgrtgftby lfc nlusg l nrlsi

wkti`ut wlrfkfa,— slkc FIS^L kfkts rgnlbb suddlry `h tig pr`ebgd.Nirysbgr slkc kt ks f`t lwlrg `h lfy nrlsigs,kfjurkgs `r hltlbktkgs rgbltgct` tig slhgty rgnlbb. Sig rgnlbbn`dgs lhtgr fkfg nust`dgr n`d-pblkfts lfc 77 hkgbc rgp`rts `h pr`ebgds wkti 5==1 C`cagNilragr lfc Dlafud p`bkng vgik-nbgs,slkc FIS^L.

Sig pr`ebgd wls hkrst rgp`rtgc kf^gptgdegr 5==9 ey tig D`ft-a`dgry N`ufty, Dc., ]`bkng Cgplrt-dgft.Sig cgplrtdgft kfcknltgc kt

wls p`sskebg h`r tig p`bkng vgik-nbgs t` lppglr ls ti`uai tigy wgrgkf ‒plro—aglr eut wgrg lntulbby kf‒crkvg.— Nirysbgr cglbgrs wkbb lcc l

rgcufclft b`nokfa dgnilfksd t`tig aglrsikht nlebg lt tig d`uftkfaerlnogt t` ‒gfsurg pr`pgr rgtgf-tk`f lfc sikht bkfolag hufntk`f.—Sigrgnlbb wls gxpgntgc t` egakf s`dg-tkdg kf F`vgdegr, eut lt prgsstkdg wg ckcf‛t ilvg lf gxlnt cltg.@wfgrs dly n`ftlnt Nirysbgr lt9==-97>-<3=>.

I GLUS C GXKNG D LOGU U GNLBB^ K D]BLFS LHSGU 7 C GLSI^

L dgcknlb cgvkng n`dplfy ilsrgnlbbgc ngrtlkf eltnigs `h l sdlbbdgnilfknlb iglrt pudp lhtgr hkvgpg`pbg ckgc wikbg uskfa tigcgvkng. Si rltgn N`rp. uragcpltkgfts t` ilvg tigkr kdpblftsnignogc lhtgr n`fhkrdkfa 51rgp`rts `h nlsgs kf wikni wglr lfchltkaug t` lf gbgntrknlb wkrgrgqukrgc tig cgvkngs t` eg

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rgpblngc. Sig rgp`rts `nnurrgc`vgr hkvg yglrs `h nbkfknlb gxpgrk-gfng wkti <,;15 kdpblfts, lnn`rc-kfa t` tig n`dplfy. Kf hkvg nlsgs,tig cgvkng n`ubc f`t eg rgpblngclfc tig pltkgfts ckgc. Sig rgnlbblhhgnts cgvkngs wkti nltlb`afudegrs <>77 lfc <=5<>;, wikni ilvg eggf ckstrkeutgc t` <7> i`s-

pktlbs lfc ckstrkeut`rs tir`uai`uttig Wfktgc ^tltgs lfc `tigr n`uf-trkgs skfng tig egakffkfa `h nbkfknlbstuckgs kf F`vgdegr 5==>. SigIglrtDltg KK pudp wls lppr`vgckf Lprkb ls l tgdp`rlry trgltdgfth`r pltkgfts lwlktkfa iglrt trlfs-pblfts, eut lflbysts ilc slkc tigblragr dlrogt h`r tig pr`cunt ks kf‒cgstkfltk`f tigrlpy,— `r pltkgfts

wkti gfc-stlag iglrt hlkburg wi`lrg t`` kbb h`r l trlfspblft.

I @DGBKSG N @F^WDGU ] U@CWNS^ U GNLBB N ILKF ^ LQ^

I`dgbktg N`fsudgr ]r`cunts Kfn.,`h Lfcgrs`f, ^.N. ils rgnlbbgcI`dgbktg Nilkf ^lws. Sig nilkferlog nlf hlkb t` st`p tig nilkf `fkts hkrst lppbknltk`f, p`skfa l rkso `h blngrltk`f t` n`fsudgrs.Siks rgnlbbkfv`bvgs I`dgbktg erlfc nilkfslws wkti tig h`bb`wkfa d`cgbfudegrs: WS<=7<3, WS<=7<8,WS<=7<1, WS<=7<9, WS<=75=,WS<=73=, WS<=78= lfc WS<=;<9.

Lhhgntgc nilkf slws ilvg l dlfu-hlnturg cltg egtwggf F`vgdegr 5==1 lfc Luaust 5==9. E`ti tigd`cgb fudegr lfc tig cltg `h dlfuhlnturg lppglr `f tig nilkfslw‛s cltl pbltg, b`nltgc egfglti tig rglr ilfcbg `h tig slw.]r`cunts

wkti l arggf ‒c`t—stknogr ufcgr tige`tt`d skcg `h tig ilfcbg lrgl lfc`f tig `utskcg `h tig plnolag lrgf`t suejgnt t` tiks rgnlbb.

Sig nilkf slws wgrg s`bc lt I`dgCgp`t st`rgs fltk`fwkcg egtwggfCgngdegr 5==1 lfc @nt`egr 5==9h`r egtwggf $<<= lfc $5==. N`f-sudgrs si`ubc kddgckltgby st`puskfa tig nilkf slws lfc n`ftlntI`dgbktg N`fsudgr ]r`cunts t`b`nltg tig fglrgst luti`rkzgcsgrvkng ngftgr t` snigcubg l hrggrgplkr. H`r lccktk`flb kfh`rdltk`f,

n`ftlnt I`dgbktg N`fsudgr ]r`c-unts Kfn. (9==) 535-3815 `r vkskttig hkrd‛s Qge sktg lt www.i`dg-bktg.n`d.

F GLUB[ <.8 D KBBK@F N UKE^ U GNLBBGC LHSGU 5 C GLSI^

Cgbtl Gftgrprksgs ils rgnlbbgcfglrby <.8 dkbbk`f `bcgr vgrsk`fs `h kts cr`p-skcg nrkes lhtgr tw` kfhlftcgltis. E`ti kfhlfts suhh`nltgc kftigkr nrkes. Dksskfa `r er`ogf slhgty pgas, wikni wgrg ebldgc kf `fgcglti, wgrg kfstlbbgc kf ;97,=== `h tig cr`p-skcg nrkes.Sigy nlf p`sglf gftrlpdgft lfc suhh`nltk`f rkso t` kfhlfts lfc t`ccbgrs.L cghgntkvgsprkfa pga kf lf lccktk`flb 8==,===cr`p-skcg nrkes nlf lbs` nlusg lfgftrlpdgft lfc suhh`nltk`f rkso.

Qigf tig slhgty pgas lrg dksskfahr`d tig b`wgr trlno lt tig elsg `h glni bga `h tig nrke, tig nrke b`nosnlf cksgfalag lfc cgtlni kh b`wgrgc egb`w tig pga i`bg lfcnrgltg l ilzlrc`us alp.

Sig N`fsudgr ]r`cunt ^lhgty N`ddkssk`f ks lwlrg `h tw`gftrlpdgfts lfc fkfg cksgfalag-dgft kfnkcgfts kf nrkes kf wikni tig slhgty pgas wgrg dksskfa.Sigrgnlbbgc nrkes wgrg dlfuhlnturgc

kf gktigr Slkwlf `r Kfc`fgskl lfc wgrg eukbt wkti tig ‒Nrke Srkaagr B`no wkti ^lhgty ]ga— cr`p-skcgilrcwlrg cgskaf. D`cgb fudegrslfc n`uftry `h `rkakf nlf egb`nltgc `f tig dlttrgss supp`rte`lrc.Sig nrkes wgrg s`bc lt dlj`r rgtlkbgrs,kfnbuckfa Qlb-Dlrt, Odlrtlfc Slragt.n d, hr`d Jlfulry <;;7tir`uai ^gptgdegr 5==1 h`r le`ut$<==.Sigsg nrkes ilvg eggf s`bcsgn`fcilfc,lbs`.

Sig N]^N lfc Cgbtl uragc plrgftslfc nlrgakvgrs t` kddgckltgby st`p uskfa nrkes tilt lrg dksskfa lslhgty pga `f lfy bga `h tig nrkelfc t` n`ftlnt Cgbtl t` rgngkvg lhrgg, glsy-t`-kfstlbb rgplkr okt. N`f-sudgrs wkti nrkes tilt ilvg lbbslhgty pgas kfstlbbgc dly n`ftkfugt` usg tig nrkes? i`wgvgr, tigN]^N rgn`ddgfcs tilt tigsg n`f-sudgrs n`ftlnt Cgbtl h`r tigrgplkr okt h`r huturg lssgdeby pur-

p`sgs. Sig okt kfnbucgs e`bc-n`b`rgc slhgty pgas lfc wlrfkfablegbs t` eg lhhkxgc t` tig dlttrgsse`lrc. Okts nlf eg `etlkfgc ey nlbbkfa Cgbtl t`bb-hrgg lt 9==-9<8-7>=3 `r ey b`aakfa `f t`

www.nrkergnlbbngftgr.n`d t``rcgr tig hrgg rgpblngdgft okt.

Cyshufntk`flb sprkfa pgas–ebldgc kf tig sgn`fc cglti–nlfegn`dg f`fhufntk`flb. Siks nlfnlusg tig cr`p skcg t` cgtlni hr`dtig nrke lfc nrgltg l alp tilt nlfgftrlp lf kfhlft `r t`ccbgr. SigN]^N ks lbs` lwlrg `h `fg nikbcgftrlpdgft lfc `fg kfnkcgft kf

wikni tig cr`p skcg cgtlnigc cugt` l cksgfalagc sprkfa pga. Siksrgnlbb kfv`bvgs lbb Cgbtl cr`p-skcgnrkes dlfuhlnturgc prk`r t` 5==8tilt usg ‒Nrke Srkaagr B`no wkti ^prkfa ]ga— cr`p skcg ilrcwlrgcgskaf. Sig rgnlbbgc nrkes ilvgCgbtl‛s fldg lfc lccrgss `f tigdlttrgss supp`rt e`lrcs lfcCgbtl‛s b`a` `f tig tgtigr rlkb.Sigd`cgb fudegr lfc dlfuhlnturgcltgs lrg b`nltgc `f t`p `h tigdlttrgss supp`rt e`lrc.Sig nrkes

wgrg dlcg kf Nikfl lfc wgrg s`bclt dlj`r rgtlkbgrs fltk`fwkcg hr`d

Jlfulry 5=== tir`uai Jlfulry 5==1 h`r egtwggf $>> lfc $5==.N]^N lfc Cgbtl urag plrgfts lfcnlrgakvgrs t` kddgckltgby st`puskfa tigsg nrkes lfc n`ftlntCgbtl t` rgngkvg l hrgg, glsy-t`-kfstlbb rgplkr okt. Okts nlf eg`etlkfgc ey nlbbkfa 9==-9<8-7>=3`r ey b`aakfa `f t` www.nrkerg-nlbbngftgr.n`d t` `rcgr tig hrggrgpblngdgft okt.

5,=== N UKE^ U GNLBBGC LHSGU K FHLFS ‛ C GLSI

Le`ut 5,=== n`fvgrtkebg nrkes lrgegkfa rgnlbbgc lhtgr lf kfhlft ckgcey suhh`nltk`f lhtgr egn`dkfatrlppgc kf `fg `h tig nrkes. Sigskcgs `h tig n`fvgrtkebg nrke dlcgey ]blyokcs W^L lrg dlcg `h ldgsi tilt gxplfcs, nrgltkfa l alpegtwggf tig dlttrgss lfc tig skcgtir`uai wikni lf kfhlft nlf sbkp.Siks p`sgs suhh`nltk`f lfc gftrlp-dgft ilzlrcs h`r y`ufa nikbcrgf.

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Sig N`fsudgr ]r`cunt ^lhgty N`ddkssk`f slkc kt ks lwlrg `h tig

Luaust >< st cglti `h l hkvg-d`fti-`bc nikbc kf Er``obyf, F.[. Signikbc egnldg gftrlppgc egtwggftig dlttrgss lfc tig cr`p skcg rlkb`h tig n`fvgrtkebg nrke lfc suhh`-nltgc. Siks rgnlbb kfv`bvgs tig]blyokcs W^L n`fvgrtkebg nrke/

pblypgf/elsskfgt/egc wkti d`cgbfudegr ]BO-;=;.‒]blyokcs W.^.L.—nlf eg h`ufc `f tig plnolakfa lfc`f l blegb sgwf kft` tig skcg `h tignrke. Sig d`cgb fudegr nlf egh`ufc `f tig plnolakfa.

Sig n`fvgrtkebg nrkes ilvg l cr`pskcg rlkb, l stltk flry skcg rlkb, lnlf`py lssgdeby lfc l elsskfgt.Sig skcgs `h tig n`fvgrtkebg nrke,tig dlttrgss supp`rt, tig elsskfgt,tig nlf`py lfc tig egcsokrt lrgn`vgrgc kf hlerkn lfc dgsi. Sighlerkn lfc tig dgsi n`dg kf l

vlrkgty `h n`b`rs lfc plttgrfs.Sign`fvgrtkebg nrkes, wikni wgrgdlcg kf Nikfl, wgrg s`bc kf juvg-fkbg pr`cunt rgtlkbgrs kf Fgw [`ro hr`d Dlrni 5==1 tir`uai ^gptgd-egr 5==9 h r le`ut $<==. N`f-sudgrs si`ubc st`p uskfa tigrgnlbbgc n`fvgrtkebg nrkes kddgck-ltgby lfc n ftlnt ]blyokcs W^Llt 1<9-1;1-=>=5 t` rgngkvg l hubbrghufc. S` sgg d`rg pknturgs `htig rgnlbbgc nrkes, n`fsudgrs nlf

vkskt tig N]^N‛s Qge sktg lt www.npsn.a v.

E LE[ Q LBOGU^ U GNLBBGC C WG S @ ^ SLKUQL[ H LBB I LZLUC

Dy Qly N`rp., `h ^lf Julf, ]ugrt`Ukn`, ils rgnlbbgc le`ut 9== Eley

Qlbogrs. Sig wlbogrs vk`bltg tigeley wlbogr v`buftlry stlfclrclfc nlf hkt tir`uai l stlfclrc

c``rwly lfc lrg f`t cgskafgc t`st`p lt tig gcag `h l stgp. Elekgsuskfa tigsg wlbogrs nlf eg sgrk-`usby kfjurgc `r okbbgc.Sig rgnlbbgc

wlbogrs wgrg s`bc h`r elekgs skxd`ftis lfc `bcgr. Sig wlbogrs

wgrg s`bc kf tig h`bb`wkfa n`b`rs:pkfo,rgc,arggf, ebug, lfc kv`ry.Sig

wlbogrs ilvg lf lntkvkty trly wkti lstggrkfa wiggb lfc `tigr t`ys.‒Dy

Qly N`rp— ks prkftgc `f l stknogr

`f tig hr`ft h tig wlbogr. Kfcgpgf-cgft cksn`uft st`rgs kf ]ugrt` Ukn`s`bc tig wlbogrs hr`d F`vgdegr 5==3 tir`uai Dlrni 5==9 h`r egtwggf $<9 lfc $57. N`fsudgrssi`ubc st`p uskfa tigsg wlbogrskddgckltgby lfc rgturf tigd t` tigst`rg wigrg purnilsgc h`r l hubbrghufc. H`r lccktk`flb kfh rdltk`f,

n`fsudgrs nlf n`ftlnt Dy Qly N`rp.n`bbgnt lt (191) 179-7939.

S @[ E @LS^ U GNLBBGC C WG S @ E WUF I LZLUC

C`bblr Agfgrlb Dgrnilfckskfa Kfn.,ils rgnlbbgc le`ut 5==,=== elttgry `pgrltgc t`y ‒^pggc E`lts.— Sigtw` elttgry tgrdkflbs nlf n`dgkft` n`ftlnt wkti glni `tigr,nluskfa tig elttgry t` `vgriglt,p`skfa l eurf ilzlrc t` n`f-sudgrs. C`bblr Agfgrlb ilsrgngkvgc tw` rgp`rts `h tig elttgr-kgs `vgrigltkfa. Sius hlr, f`kfjurkgs ilvg eggf rgp`rtgc. Sigrgnlbbgc t`y spggc e`lts lrg bkait-

wgkait pblstkn t`y e`lts supp`rtgcey lf kfhbltlebg iubb wkti ‒`ut-e`lrc—d`t`rs `f tigd.

Sig d`t`r usgs tw` LL elttgrkgs.Sig t`y e`lt dglsurgs le`ut <5kfnigs b`fa ey 9 kfnigs wkcg lfc

n`dgs kf vlrk`us n`b`rs lfccgskafs. C`bblr Agfgrlb st rgsfltk`fwkcg s`bc tig spggc e`ltshr`d Dlrni 5==9 tir`uai Juby 5==9 h`r $> glni. N`fsudgrssi`ubc tlog tigsg t`ys lwly hr`d

y`ufa nikbcrgf lfc rgturf tigd t`tig st`rg wigrg purnilsgc h`r lrghufc `r rgpblngdgft pr`cunt.H`r lccktk`flb kfh`rdltk`f, n`ftlntC`bblr Agfgrlb lt (9==) 819-;579`r vkskt tig hkrd‛s Qge sktg lt

www.c`bblragfgrlb.n d.

^ GUSL K FSGUFLSK@FLB D LSSUG^^G^ U GNLBBGC C WG S @ H KUG I LZLUC

^grtl Kftgrfltk`flb Dlttrgss N`., `h I`hhdlf Gstltgs, Kbbkf`ks, ilsrgnlbbgc `vgr 8,=== ^grtl Zkppgr-N`vgrgc H`ld N`rg Dlttrgssgs.Sig dlttrgssgs hlkb t` dggt tigdlfclt`ry hgcgrlb `pgf hbldg stlf-

clrc h r dlttrgssgs, p`skfa l hkrgi lzlrc t` n`fsudgrs.Sig rgnlbbgcdlttrgssgs ilvg l zkppgr n`vgr `vgr l h`ld n`rg. Sig dlttrgssgs

wgrg s`bc kf twkf, hubb, quggf, okfalfc Nlbkh rfkl okfa skzgs. Sigy

wgrg dlfuhlnturgc egtwggfF`vgdegr >=, 5==1 lfc Dly 5=,5==9. Sig dlttrgss fldg, cltg `h

dlfuhlnturg, d`cgb, lfc sgrklbfudegrs lrg b`nltgc `f l blegblttlnigc t` tig dlttrgss. @fby spg-nkhkn sgrklb fudegrs lrg kfnbucgc kftig rgnlbb.

N`fsudgrs si`ubc kddgckltgby n`ftlnt ^grtl t` cgtgrdkfg kh tigkr dlttrgss ks kfnbucgc kf tig rgnlbb,lfc kh kt ks, t` rgngkvg l hrgg rgpblng-dgft dlttrgss n`vgr. N`fsudgrsnlf kfstlbb tig n`vgr tigdsgbvgs `r rgqugst hrgg kfstlbbltk`f ey l qulbk-hkgc rgplkr tgnifknklf. H`r lcck-tk`flb kfh`rdltk`f, n`ftlnt ^grtlt`bb-hrgg lt (988) 817->97> `r vkskttig hkrd‛s Qge sktg lt

www.sgrtl.n`d.

N [EGY K FSGUFLSK@FLB U GNLBB^ S UGLCDKBB^ C WG S @ H LBB I LZLUC

Le`ut <;,=== Nyegx Srglcdkbbsilvg eggf rgnlbbgc.Sig trglcdkbbsnlf spggc up ufgxpgntgcby wikbg

kf usg cug t` l dlbhufntk`f wkti tig b`wgr n`ftr`b e`lrc, p`skfa lhlbb ilzlrc t` n fsudgrs. NyegxKftgrfltk`flb ils rgngkvgc 53rgp`rts `h kfnkcgfts kfv`bvkfa tigtrglcdkbb ufgxpgntgcby kfnrglskfaspggc,kfnbuckfa skx rgp`rts h n`f-sudgrs hlbbkfa.Sirgg `h ti`sg kfnk-cgfts rgsubtgc kf dkf`r kfjurkgs.Sig rgnlbb kfv`bvgs tig Nyegx337S, 377S, 7>=S, 37=S, 7==S, 7<7S,lfc 75=S trglcdkbb d`cgbs.

Sig trglcdkbbs lrg eblno lfc arly wkti rgntlfaublr uprkaits. Sig7>=S stybg trglcdkbb ks 9< kfnigsb`fa ey >5 kfnigs wkcg.Sig 337Sstybg trglcdkbb ks 15 kfnigs b`fa ey >5 kfnigs wkcg. Sig trglcdkbbsilvg l ckspbly plfgb `f l n`fs`bgls wkcg ls tig trglcdkbb.‒Nyegx—lfc tig d`cgb fudegr lrg wrkttgf`f tig n`fs`bg. N`fsudgrs si`ubckddgckltgby ufpbua lfc st`p uskfatig rgnlbbgc trglcdkbbs. N`ftlnt

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Nyegx t` rgngkvg l hrgg rgpblng-dgft husg. Kh rgqugstgc, l Nyegxtgnifknklf nlf kfstlbb tig husg hrgg`h nilrag. Nyegx ks ckrgntby n`f-tlntkfa of`wf purnilsgrs. H r lccktk`flb kfh`rdltk`f, n`ftlntNyegx t`bb hrgg lt (988) 9;1-;<;;`r vkskt tig hkrd‛s Qge sktg lt

www.Nyegxkftb.n d.

^ IGUQKF -Q KBBKLD^ N @ . U GNLBB^ O U[B@F WX H LEUKN ] U@SGNS@U

Sig ^igrwkf-Qkbbklds N`. ilsrgnlbbgc le`ut 17,=== nlfs `h Oryb`f ‒@utc` r ^plngs—WX Hlerkn]r`tgnt`r. @vgrgxp`surg t` hudgs,

vlp`r `r sprly dkst hr`d tigpr`cunt nlf p`sg l sgrk`us rgspkrl-t`ry ilzlrc t` n`fsudgrs.^igrwkf-

Qkbbklds ils rgngkvgc `fg rgp`rt`h lf kfnkcgft kfv`bvkfa l n`f-sudgr wi` gxpgrkgfngc n`uaikfalfc ckhhknubty ergltikfa rgqukrkfa`vgrfkait i`spktlbkzltk`f. Sigrgnlbb kfv`bvgs Oryb`f ‒@utc``r ^plngs—WX Hlerkn ]r`tgnt r, wikni ks lf lgr`s`b n`ltkfa usgc t`pr`tgnt hlerkn.

Sig plrt fudegr (#5;==) ksprkftgc le`vg tig W]N (1537=3=5;==1) `f tig skcg `h tig nlf.Sig hr`ft `h tig <<-`ufng lgr`s`b

nlf ks tlf wkti l pknturg `h l pltk`n`ftlkfkfa `utc``r hurfkturg.‒WX Hlerkn ]r`tgnt`r— lfc ‒@utc``r ^plngs— lrg lbs` prkftgc f tighr`ft `h tig nlf.N`fsudgrs si`ubckddgckltgby st`p uskfa tigpr`cunt lfc rgturf kt t` tig st`rg

wigrg purnilsgc h`r l hubb rghufc.H`r lccktk`flb kfh rdltk`f, nlbb^igrwkf-Qkbbklds t`bb-hrgg lt (999)>=3->18; `r vkskt tig hkrd‛s Qgesktg lt www.sigrwkf-wkbbklds.n`d`r www.oryb`f.n`d.

N BLKUG ‛ U GNLBB^ N IKBCUGF ‛ D GSLBF GNOBLNG^

Nblkrg‛s E`utkqugs Kfn.,`h I`hhdlfGstltgs, Kbbkf`ks ils rgnlbbgc le`ut81,=== Egst Hrkgfcs [kf [lfa Fgno-blngs ^gts.Sig rgnlbbgc fgnoblngsn`ftlkf ikai bgvgbs `h bglc.Ls wgilvg lbb bglrfgc, bglc ks t`xkn kh

kfagstgc ey y`ufa nikbcrgf lfcnlf nlusg lcvgrsg iglbti ghhgnts.Siks rgnlbb kfv`bvgs l sgt `h tw`fgnoblngs tilt ilvg l skbvgr-n`b`rgcdgtlb eglc typg nilkf lfc lb`estgr-nblw nblsp. @fg `h tigfgnoblngs ils l skfabg, dgtlbpgfclft wkti tig w`rc ‒Egst—lttlnigc t` l eblno, ykf dgtlb

pgfclft. Sig `tigr fgnoblng ilstig w`rc ‒Hrkgfcs— lttlnigc t` l wiktg,ylfa dgtlb pgfclft.

Sig fgnoblngs wgrg s`bc lt Nblkrg‛sst`rgs fltk`fwkcg hr`d Lprkb 5==1tir`uai Luaust 5==9 h`r le`ut $9.N`fsudgrs si`ubc kddgckltgby tlogtigsg rgnlbbgc pr`cunts lwly hr`dnikbcrgf lfc rgturf tigd t` lfy Nblkrg‛s st`rg h`r l hubb rghufc. H`r lccktk`flb kfh rdltk`f, nlbb Nblkrg‛slt (988) 97;-;59< `r vkskt tig hkrd‛s

Qge sktgs lt www.nblkrgs.n d.N]^N wls lbgrtgc t` tiks ilzlrc ey tig Kbbk-f`ks Ltt`rfgy Agfgrlb.

N @XKCKGF U GNLBB^ ^ [UKFAG^ ] @^KFA U K^O S @ C KLEGSKN^

W.^. iglbti `hhknklbs ilvg wlrfgcc`nt`rs lfc pltkgfts tilt N`vkckgfBtc.Ks rgnlbbkfa fglrby ilbh l dkbbk`fskfabg-usg syrkfags tilt n`ubc p`sgl sgrk`us rkso t` cklegtkns.Sig H``c

lfc Crua Lcdkfkstrltk`f slkc tigp`sskeby dksblegbgc Ugbk@fsyrkfags n`ubc bglc t` pltkgftsrgngkvkfa lf kfsubkf `vgrc`sg `h lsduni ls 5.7 tkdgs tig kftgfcgcc`sg, bglckfa t` b`w eb``c sualr bgvgbs lfc sgrk`us iglbti n`fsg-qugfngs, kfnbuckfa cglti. Curkfatig plnolakfa pr`ngss, s`dgsyrkfags blegbgc h`r usg wkti W-3=kfsubkf wgrg dkxgc wkti syrkfagsblegbgc h`r usg wkti W-<== kfsubkf.

Qlb-Dlrt ^t`rgs Kfn. s`bc tigsyrkfags lt Qlb-Dlrt st`rgs lfc^ld‛s Nbues hr`d Luaust < st uftkb@nt`egr 9 ti . N`vkckgf v`buftlrkby rgnlbbgc tig syrkfags `f @nt`egr ; ti , lsokfa tilt lfy ufkts `h tiglhhgntgc pr`cunt eg rgd`vgc hr`dkfvgft`ry lfc pblngc kf qulrlf-tkfg. Qlb-Dlrt p`stgc tig rgnlbblff`ufngdgft kf Qlb-Dlrt st`rgslfc ^ld‛s Nbues, ls wgbb ls f kts

wgesktg lfc sgft bgttgrs t` d`rg

tilf <8,7== nust`dgrs f`tkhykfatigd `h tig rgnlbb. Sig dlfuhln-turgr ils rgngkvgc `fg lcvgrsgrgp`rt rgbltgc t` l syrkfag hr`d tigb`t fudegrgc 9<>;== lnn`rckfa t`tig HCL. N`fsudgrs lfc iglbti nlrg pr`hgssk`flbs wi` suspgnttigy ilvg tig rgnlbbgc pr`cunt dly n`ftlnt N`vkckgf lt 988-19=-73>8

`r www.rgbk`f.n`d/rgnlbb h`r d`rgkfh`rdltk`f.

D LKFG H KUD U GNLBB^ H U@ZGF ^ SWHHGC N IKNOGF ] U@CWNS^

Elregr H``cs N`dplfy, l ]`rtblfc,Dlkfg, gstlebksidgft, ks rgnlbbkfalppr`xkdltgby 3<,3<7 p`ufcs `h hr`zgf stuhhgc niknogf pr`cuntstilt dly n`ftlkf h`rgkaf dltgrklbs.Sig W.^. Cgplrtdgft `h Larknub-turg‛s H``c ^lhgty lfc Kfspgntk`f^grvkng dlcg tiks puebkn `fF`vgdegr <= ti .

Sig pr`cunts blegbgc ^niwlf‛s^tuhhgc Niknogf Okgv, wgrg pr`-cungc `f Dly <1 ti , Jufg 5 fc lfc

Luaust 3 ti , lfc wgrg dlcg lvlkblebgh`r nltlb`a `r kftgrfgt purnilsghr`d tig ^niwlf‛s I`dg ^grvkng,Kfn. ey n fsudgrs fltk fwkcg.Sigpr`ebgd wls cksn`vgrgc lhtgr tig^niwlf‛s I dg ^grvkng, Kfn.

rgngkvgc n`fsudgr n`dpblkfts `h hkfckfa pkgngs `h rueegr kf tigpr`cunt.H^K^ slys kt ils f`t rgngkvgclfy rgp`rts `h kfjury lt tiks tkdg.

Lfy`fg n fngrfgc le`ut lf kfjury hr`d n`fsudptk`f `h tig pr`cuntssi`ubc n`ftlnt l piysknklf.

LBLELDL H KUD U GNLBB^ I @S C @A ] U@CWNS^ H @U ] @^^KEBG BK^SGUKLN @FSLDKFLSK@F

U. B. Zgkabgr N`., Kfn., l ^gbdl, Lbleldl, hkrd, ils rgnlbbgc lppr`x-kdltgby 59,8<= p`ufcs `h i`t c`apr`cunts tilt dly eg n`ftldk-fltgc wkti Bkstgrkl d`f`nyt`-agfgs.Sig h`bb`wkfa pr`cunts lrgsuejgnt t` rgnlbb:

• <5-`ufng plnolags `h ‒ZGKABGU QKGFGU^DLCGQKSI NIKNOGFLFC]@UO, LUSKHKNKLBB[ N@B@UG

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Glni plnolag eglrs tig usg-ey cltg`h ‒F`vgdegr 58, 5==9— lfc tiggstlebksidgft fudegr ‒]-;<78^—kfskcg tig W^CL dlro `h kfspgntk`f.

• <5-`ufng plnolags `h ‒XLNWWD]LNOGC ]LU-SK ]W]^.— Glni plnolag eglrs tig usg-ey cltg `h ‒F`vgdegr 58,5==9—lfc tig gstle-bksidgft fudegr ‒]-;<78^— kfskcgtig W^CL dlro h kfspgntk`f.

• <5-`ufng plnolags `h ‒ZGKABGU @rkakflb Ugnkpg QKGFGU^, lrtkhk-nklbby n`b`rgc.— Glni plnolag eglrstig usg-ey cltg `h ‒F`vgdegr 58,5==9— lfc tig gstlebksidgftfudegr ‒G^S. ;<78^— kfskcg tigW^CL dlro `h kfspgntk`f.

• <8-`ufng plnolags `h ‒Zgkabgr Jude` Hrlfos.— Glni plnolag eglrstig usg-ey cltg `h ‒F`vgdegr 5<,5==9— lfc tig gstlebksidgftfudegr ‒]-;<78^—kfskcg tig W^CL dlro `h kfspgntk`f.

• <5-`ufng plnolags `h ‒Zgkabgr I`tC`as.— Glni plnolag eglrs tig usg-ey cltg `h ‒F`vgdegr 58, 5==9—lfc tig gstlebksidgft fudegr ‒]-;<78^— kfskcg tig W^CL dlro `h kfspgntk`f.

• <=-p`ufc eubo e`xgs `h ‒^OKFBG^^ QKGFGU^, 9 QKGFGU^ ]GU BE.—Glni e`x eglrs tig plnolag n`cg

‒]O =;55=9L— lfc tig gstlebksi-dgft fudegr ‒G^S. ;<78^— kfskcgtig W^CL dlro `h kfspgntk`f.

• <=-p`ufc eubo e`xgs `h ‒^OKFBG^^ QKGFGU^,LUSKHKNKLBB[ N@B@UGC,<= QKGFGU^ ]GU BE.— Glni e`xeglrs tig plnolag n`cg ‒]O =;55=9L— lfc tig gstlebksidgftfudegr ‒G^S. ;<78^— kfskcg tigW^CL dlro `h kfspgntk f.

• <=-p`ufc eubo e`xgs `h ‒^OKFBG^^ QKGFGU^, <= QKGFGU^ ]GU BE.—Glni e`x eglrs tig plnolag n`cg‒]O =;55=9L— lfc tig gstlebksi-dgft fudegr ‒G^S. ;<78^— kfskcgtig W^CL dlro `h kfspgntk`f.

• <=-p`ufc eubo e`xgs `h ‒^OKFBG^^ QKGFGU^, <5 QKGFGU^ ]GU BE.—Glni e`x eglrs tig plnolag n`cg‒]O =;55=9L— lfc gstlebksidgftfudegr ‒G^S. ;<78^— kfskcg tigW^CL dlro `h kfspgntk`f.

Sig i`t c`a pr`cunts wgrg pr`-cungc `f ^gptgdegr 55 fc , lfc wgrgsgft t` h``c sgrvkng kfstktutk`fs lfcrgtlkb gstlebksidgfts kf Lbleldl,Hb`rkcl,Ag`rakl,Dkssksskppk,lfc Sgf-fgssgg.Sig pr`ebgd wls cksn`vgrgcey tig Ag`rakl ^tltg Cgplrtdgft `h

Larknubturg tir`uai dknr ek`b aknlbtgstkfa.H^K^ ils rgngkvgc f` rgp`rts

`h kbbfgssgs lss`nkltgc wkti n`f-sudptk`f `h tiks pr`cunt.N`fsudp-tk`f `h h``c n`ftldkfltgc wkti Bkstgrkl d`f`nyt`agfgs nlf nlusgbkstgrk`sks, lf ufn`dd`f eut p`tgf-tklbby hltlb cksglsg. Iglbtiy pg`pbgrlrgby n`ftrlnt bkstgrk`sks. I`wgvgr,bkstgrk`sks nlf nlusg ikai hgvgr,sgvgrg iglclnig, fgno stkhhfgss lfcflusgl. Bkstgrk`sks nlf lbs` nlusgdksnlrrklags lfc stkbbekrtis, ls wgbbls sgrk`us lfc s`dgtkdgs hltlb kfhgn-tk`fs kf ti`sg wkti wglogfgc

kddufg systgds,suni ls kfhlfts, tiggbcgrby lfc pgrs`fs wkti IKX kfhgn-tk`f r ufcgra`kfa nigd`tigrlpy.

N`fsudgrs wkti qugstk`fs le`uttig rgnlbb si`ubc n`ftlnt n`dplfy N`ftr`bbgr Ogf Hktzagrlbc lt (9==)>;5-8>59. N`fsudgrs wkti h` cslhgty qugstk`fs nlf ‒Lso Olrgf,—tig H^K^ vkrtulb rgprgsgftltkvglvlkblebg 53 i`urs l cly lt

LsoOlrgf.a`v. Sig t`bb-hrgg W^CL Dglt lfc ]`ubtry I`tbkfg nlf egrglnigc lt <-999-D]I`tbkfg (<-999-813-8973) lfc ks lvlkblebg kfGfabksi lfc ^plfksi.

YYKX.HKUD LNSKXKSKG^

N BL[ E LUFGSS I GLC^ W ] W FKSGC Q L[ G HH@US^ H @U BLQ[GU^

@fg `h `ur blwygrs, Nbly Elrfgtt, ksiglckfa up tig 5==9 Ukvgr Ugak`fWfktgc Qly Ltt rfgy Nldplkaf. N`f-skcgrkfa tig gn`f`dkn nilbbgfags wglrg lbb hlnkfa tiks yglr,tig Wfktgc Qly ksn`fngftrltkfa kts ghh`rts `f uppkfa tigplrtknkpltk`f fudegrs. Sigy wlft t``hhsgt tig p`tgftklb h`r sdlbbgr n`ftrk-eutk`fs ey erkfakfa kf blwygrs lfc pgr-s`ffgb stlhh wi` ilvg f`t ikst`rknlbby n`ftrkeutgc t` tig nldplkaf. SigWfktgc Qly c`gs `utstlfckfa w`ro lfc

cgsgrvgs t` eg supp rtgc. B`ts `h h`boscgpgfc `f tigd. Nbly ks w`rokfa ilrct` dlog surg lbb `h tig blwygrs kf tiglrgl stgp up t` tig pbltg lfc c` tigkr plrt kf tig nldplkaf.

J WBKL E GL^BG[ F LDGC S @ LCXK^@U[ E @LUC @ H S IG WLE I GLBSI N GFSGU

Lf`tigr `h `ur blwygrs, Jubkl Eglsbgy,ks kfv`bvgc kf lf`tigr w`rtiy ufcgrtlo-kfa `utskcg tig hkrd. ^ig ils eggflpp`kftgc t` tig Lcvks`ry E`lrc `h SigWLE Iglbti Ngftgr D`fta`dgry. Siglpp`kftdgft `h skx fgw e`lrcdgdegrs wls lff`ufngc rgngftby. Kflccktk`f t` Jubkl, tig `tigr fgw dgdegrs kfnbucg: Ogffgti G.N`bgdlf–Xkng ]rgskcgft, ^`utigrfCkvksk`f `h Lbleldl ]`wgr N`dplfy? J.Dknilgb I`rsbgy–NG@ `h tig LbleldlI`spktlb Lss`nkltk`f?\ugftkf Ukaakfs–^gfk`r Xkng ]rgskcgft h`r A`vgrfdgftlb

Lhhlkrs, Euskfgss N`ufnkb `h Lbleldl?Uleek Gbbk`t ^tgvgfs–Sgdpbg Egti @r,lfc J. ^kcfgy ^tuees, ]iC–Xkng ]rgsk-cgft h`r Lnlcgdkn Lhhlkrs, Iuftkfac`fN`bbgag.

Sig Lcvks`ry E`lrc dgdegrs lrglcv`nltgs h`r tig pr`arld kf tig n`d-dufkty. Sig E`lrc pr`vkcgs n`ufsgblfc lcvkng t` tig pr`arld. Sigy supp`rt tig sp`fs`rkfa kfstktutk`fs, tig^ni``b `h Dgcknkfg lt WLE lfc Elptkst

Iglbti.Lblf Q rrgbb,Nilkrpgrs`f h tigE`lrc lfc ]rgskcgft `h ^tgrbkfa Elfo,`esgrvgc:

@f egilbh `h tig Lcvks`ry E`lrc, K wksi t` tilfo ti`sg kfckvkculbs

plst lfc prgsgft wi` ilvg akvgfcgcknltgc lfc b`ylb sgrvkng. Qgb``o h`rwlrc t` tig `pp`rtufktyt` w`ro wkti tigsg `utstlfckfa n`ddufkty bglcgrs ls wg strkvgt`agtigr t` lnikgvg tig vksk`f `h tig WLE Iglbti Ngftgr D`ft-

a`dgry–t` egn`dg l rgn`afkzgc ngftgr `h gxngbbgfng kf dgcknlb gcunltk`f lfc pltkgft nlrg.

Sig Lcvks`ry E`lrc nlf ngrtlkfby eglf lssgt t` a``c iglbtinlrg–lvlkblebgt` lbb nktkzgfs kf `ur lrgl–lfc tilt ks ld`st w`rtiwikbg ufcgrtlokfa.Qg lrgpbglsgc t` ilvg `fg `h `ur blwygrssgrvkfa `f tiks kdp`rtlft e`lrc.

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G D]B@[GG ^ ]@SBKAIS^

]LUOGU DKBBGU ]lrogr Dkbbgr j`kfgc tig hkrd ls lf

Lss`nkltg kf @nt`egr. Ig ks w`rokfa kftig Gfvkr`fdgftlb Blw ^gntk`f. ]lrogr ks l dgdegr `h tig I`t Hugb dubtkcks-trknt bktkaltk`f tgld,wikni ks bktkaltkfalalkfst s`dg `h tig w`rbc‛s blragst `kbn`dplfkgs.Qg lrg sggokfa t` rgn`vgr ekbbk`fs `h c`bblrs n`fsudgrs b`st ls lrgsubt `h tigrdlb gxplfsk`f kf als`bkfg.

Lccktk`flbby, ]lrogr rgprgsgfts nbkgfts wi` ilvg sustlkfgc skafkhknlft cldlagt` tigkr i`dgs ls l rgsubt `h dkfg suesk-cgfng kf F`rti Lbleldl. ]rk r t`egn`dkfa lf lss`nkltg, ]lrogr w`rogcls l blw nbgro kf tig hkrd‛s Hrluc^gntk`f, lsskstkfa blwygrs kf HB^L,eusk-fgss lfc sgnurktkgs hrluc bktkaltk`f.

]lrogr rgngkvgc iks E.^. cgargg kfEuskfgss Lcdkfkstrltk`f hr`d LueurfWfkvgrskty.Qikbg lt Lueurf, ]lrogr wlsfldgc Ukso Dlflagdgft Ckrgnt`r `h tig Kftgrhrltgrfkty N`ufnkb lfc igbcfudgr`us `hhkngs kf iks s`nklb hrltgr-fkty, ]ik Olppl Slu. ]lrogr rgngkvgc iks

Jurks C`nt`r cgargg hr`d Si`dlsA``cg J fgs ni``b h Blw kf 5==9.

Qikbg lttgfckfa blw sni``b, ]lrogr wls rgn`afkzgc ls `fg `h tig fltk`f‛shkfgst stucgft lcv`nltgs wigf igrgngkvgc tig Bgwks H. ]`wgbb Jr.Ldgrk-nlf N`bbgag `h Srklb Blwygrs Dgclb h`r Gxngbbgfng kf Lcv`nlny. ]lrogr‛s tgldhkfksigc ls l fltk`flb sgdkhkflbkst kf tigEuhhlb`-Fklalrl D`no Srklb N`dpgtktk`flfc tig prgstkak`us Fltk`flb Srklb N`d-pgtktk`f–l n`dpgtktk`f wkti fglrby <=== plrtknkpltkfa stucgft lcv`nltgslfc >== tglds. Lccktk`flbby, wikbg kfsni``b ]lrogr stuckgc kftgrfltk`flb blw ler`lc kf tig Fgtigrblfcs, wls `f tigCglf‛s Bkst lt J`fgs, lfc wls l nilrtgr dgdegr `h tig J`fgs ^ni``b `h Blw E`lrc `h Lcv`nltgs.

]lrogr wls e`rf lfc rlksgc `f l hlrdkf Hlufsclbg, Lbleldl, lfc arlcultgc

wkti i`f`rs hr`d Dlrgfa` Lnlcgdy.Ig ks dlrrkgc t` tig h`rdgr Lsibgy Er`wfsegragr h Sldpl, Hb`rkcl.Lsibgy ks lf kftgrk`r n`fsubtlft lfc w`ros ltBgg Lff‛s kftgrk`rs kf D`fta`dgry.Qglrg pbglsgc t` ilvg ]lrogr ls lf Lss`nk-ltg wkti tig hkrd.

LB[NG U@EGUS^@F Lbyng U`egrts`f j`kfgc tig hkrd kf

Luaust `h 5==8. ^ig ks nurrgftby

w`rokfa f sgvgrlb gfvkr`fdgftlb nlsgskfv`bvkfa kssugs suni ls bglokfa Wfcgr-ar`ufc t`rlag Slfos (W^Ss), lfc n`f-tldkfltk`f hr`d hlnkbktkgs gdkttkfasuestlfngs suni ls dgrnury lfc hby lsi.

Lbyng lbs` igbpgc t` `etlkf nblss ngrtkhk-nltk`f lfc sgttbgdgft lppr`vlb kf l ska-fkhknlft nlsg kfv`bvkfa pr`pgrty n`ftldkfltk`f kf Ekrdkfaild,Lbleldl.

Egh`rg n`dkfa t` tig hkrd, Lbyngilc d`st rgngftby w`rogc ls lf Lsskstlft Ltt`rfgy Agfgrlb kf tig Lbleldl Ltt`rfgy Agfgr lb‛s @hhkng. Qikbg tigrg, `vgr l pgrk`c `h sgvgf ygl rs , sig il fcbgc nkvkb bktkaltk`fkfv`bvkfa stltg lagfnkgs lfc gdpb`y-ggs. Igr trklb prlntkng kfnbucgc nkvkbrkaits, pgrs`flb kfjury lfc n`fstktu-tk`flb bktkaltk`f `f egilbh `h tigstltg. ^ig lbs` prlntkngc lcdkfkstrl-tkvg blw lfc sgrvgc ls n`ufsgb h`r stltg bkngfskfa e`lrcs.

Lbyng arlcultgc hr`d Ekrdkfaild^`utigrf N`bbgag wkti l Elnigb`r `h Lrts cgargg kf ikst`ry/p`bktknlb snkgfng.Kf <;;7,sig arlcultgc hr`d tig Wfkvgr-skty `h Lbleldl ^ni``b `h Blw.Qikbg lt

Lbleldl,Lbyng sgrvgc ls ^tucgft Q rosGckt r h`r tig Blw lfc ]syni b`ay Ugvkgw.Lbyng wls lbs` l dgdegr `h tigEgfni lfc Elr Bgalb I`f`r ^`nkgty

wikbg kf blw sni``b.Nurrgftby, Lbyng ks sgrvkfa ls tig

Ckrgnt`r `h Gcunltk`f lfc Srlkfkfa h`r tig Jufk`r Bglaug h D`fta dgry lfc

ks l Elrrkstgr kf tig Iuai Dlcc`x Kffs`h N`urt. ^ig ks lbs` l dgdegr `h tigE`lrc `h Dlflagrs `h tig C`wft`wf

[DNL.Lbyng lttgfcs Kddlfugb ]rgsey-tgrklf Niurni, wigrg sig ks lf gbcgr lfc ][N bglcgr. Lbyng ks l vgry ilrc

w`rogr kf l d`st nilbbgfakfa hkgbc `h blw. ^ig c`gs gxngbbgft w`ro, ks ltrgdgfc`us lssgt t` tig hkrd, lfc wglrg h`rtufltg t` ilvg igr wkti us.

JLFGS ]LKU Jlfgt ]lkr, wi` ils 58 yglrs gxpgrk-

gfng kf tig bgalb hkgbc, j`kfgc tig hkrdtiks plst Dlrni.^ig nurrgftby sgrvgs lsl Bgalb Lsskstlft t` Flvlf Qlrc, Jr. kf`ur Dlss S`rts ^gntk`f. ^ig w`ros `fNgbgergx/Egxtrl bktkaltk`f lfc ]grdlx/ C`stkfgx bktkaltk`f. Jlfgt,wi` argw upkf D`fta`dgry, d`vgc lwly kf <;;=.^ig ils bkvgc kf vlrk`us nktkgs kfnbuckfaOlfsls Nkty, Dkss`urk? Nkfnkffltk,@ik`?

Luaustl, Ag`rakl? Flvlrrg, Hb`rkcl? lfcd`st rgngftby, Ekb`xk, Dkssksskppk. ^ig

d`vgc elno t` D`fta`dgry kf Dly 5==1.

Jlfgt arlcultgc hr`d Jghhgrs`f ClvksIkai ^ni``b kf D`fta dgry. ^ig tigfglrfgc igr Elnigb`r `h ^nkgfng kfNrkdkflb Justkng hr`d Sr`y Wfkvgrskty.

Jlfgt gfj`ys ruffkfa lfc w`rokfa `ut.Kf Hgerulry 5==1 sig rlf igr hkrstdlrlti`f lt tig Dlrck Arls Dlrlti`f

kf Fgw @rbglfs lfc qulbkhkgc h`r tigE`st f Dlrlti`f, wigrg sig rlf `f Lprkb 5<, 5==9.^ig ks nurrgftby trlkfkfah`r s`dg upn`dkfa ilbh dlrlti`fs lfcp`sskeby tig E`st`f Dlrlti`f kf Lprkb5==;. Jlfgt ks l vgry a``c lfc vlbulebggdpb`ygg. Qg lrg h`rtufltg t` ilvg

Jlfgt w`rokfa kf l vgry kdp`rtlftsgntk`f `h tig hkrd.

NLUBS@F LXGU[ Nlrbt`f Lvgry w`ros kf `ur Dlss

S`rts ^gntk`f ls l stlhh lsskstlft h`r Egf- jldkf B. B`noblr. Ig ks nurrgftby lstucgft lt Sr y Wfkvgrskty D`fta dgry nldpus, pursukfa l cgargg kf Gn`f`d-kns. Nlrbt`f, wi` ks l D`fta dgry fltkvg, gfj`ys igbpkfa `tigrs, pblykfasp`rts, spgfckfa tkdg wkti hldkby lfchrkgfcs, lfc bglrfkfa fgw tikfas. Igc`gs l vgry a` c j e lfc wg lrg h`rtu-fltg t` ilvg ikd wkti tig hkrd.

ALU[ ^]KAFGU Alry ^pkafgr,wi` nurrgftby sgrvgs ls

l ^tlhh Lsskstlft kf tig Dlss S`rts^gntk`f, ils eggf w`rokfa ilrc `f

Xk`xx blwsukts. Ig spgfcs l a``cld`uft `h tkdg rgvkgwkfa nlsg hkbgslfc w`rokfa `f dlttgrs rgbltkfa t`pgfckfa nlsgs. Alry ils eggf dlrrkgct` Jlffl h r 55 yglrs. Sigy ilvg `fgs`f,Ergtt, wi` just turfgc <8.Alry prg-

vk`usby sgrvgc <7 yglrs kf tig Lbleldl Lrdy Fltk`flb Aulrc wkti tw` lfc lilbh yglrs lntkvg cuty kf tig Qlr `fSgrr`r. Ig sgrvgc sgvgf d`ftis kf

Lhailfkstlf hr`d 5==3 t` 5==7. Alry, wi` ks l fltkvg `h Sgxls, ks l vgry a``cgdpb`ygg lfc wg lrg h`rtufltg t ilvgikd wkti us.

N IUK^SDL^ A KXKFA K ^ L E BG^^KFA H @U LBB@ H W LS E GL^BG[ LBBGF

@ur hkrd ils lbwlys rglnigc `ut t`h`bos kf `ur n`ddufkty lfc wg ilvgn fskstgftby w`rogc ilrc t` igbp`tigrs curkfa tig Nirkstdls sgls`fgspgnklbby. Siks Nirkstdls sgls`f wkbb

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eg f` ckhhgrgft. Bkstgc egb`w lrgsgvgrlb `pp`rtufktkgs `ur gdpb`yggsilvg ilc curkfa tiks kdp`rtlft tkdg `h tig yglr t` silrg wkti `tigrs wi` lrgbgss h`rtufltg kf `ur n`ddufkty.

HLDKB[ WF^IKFG NGFSGU H@@CCUKXG

Sig hkrd sp`fs`rgc hkvg hldkbkgshr`d Sig Hldkby ^ufsikfg Ngftgr ey akvkfa tigd gf`uai h``c t` hggc tigkr hldkbkgs hr`d Silfosakvkfa t` Nirkst-dls.Qg h`ufc tilt tiks wls l arglt wly t` igbp h`bos.Siks ks A`c spglokfa t`tig iglrts `h `ur gdpb`yggs. Q`rcsnlf‛t lcgqultgby cgsnrkeg tig j`y lfcrgbkgh tiks ghh`rt erkfas t` tigsg hldkbkgs

wi` lrg kf fggc.Lfagbl Slbbgy lfc SkflEbug iglcgc up tiks nilrkty h`r tighkrd.

NIK^I@BD DKFK^SU[ NGFSGU Gdpb`yggs wgrg lebg t` c`fltg fgw

t`ys h`r nikbcrgf lags kfhlft t` <9 yglrs `h lag t` tig Niksi`bd Dkfkstry Ngftgr.Sig akhts wgrg pblngc kf tigkr S`y ^t`rg wikni ks cgskafgc t` igbpb`w kfn`dg hldkbkgs wi` nlff tlhh`rc t` ply rgtlkb prkngs h`r tigsgktgds.Sig akhts wgrg dlrogc c`wf t` lrgcungc rltg, tig b`wgst egkfa 7=ngfts lfc ikaigst egkfa $>.==.Sig S y ^t`rg dkfkstry wls gstlebksigc t` igbppblng ckafkty lfc rgspgnt elno kft` tigi`dg ey lhh`rckfa tig plrgfts tig`pp`rtufkty t` pr`vkcg l Nirkstdls h`r tigkr nikbcrgf. ]bglsg oggp kf dkfctilt egnlusg tigrg ks l prkng tla c`gsf`t dglf pg`pbg wi` nlff`t lhh`rc t`ply lrg turfgc lwly. Si`sg wi`nlff`t lhh`rc t` ply lrg lbb`wgc t`si`p h`r tigkr nikbcrgf lt f` n`st.Lbs`,lfy d`fgy dlcg `f tig akhts s`bc lttig S`y ^t`rg a`gs elno t` tig Dkfkstry t` pr vkcg hkflfnklb lsskstlfng, pur-nilsg h``c, nb`tikfa, lfc `tigr ktgdsh`r tig fggcy. ^igrry DnIgfry iglcgcup tiks nilrkty h`r tig hkrd.

@]GULSK@F NIUK^SDL^ NIKBC@pgrltk`f Nirkstdls Nikbc ils

t`unigc dkbbk`fs `h nikbcrgf. Kt ks lufkqug pr`jgnt `h tig Nirkstklf rgbkgh lfc gvlfagbksd `ralfkzltk`f ^ldlrktlf‛s]ursg. Gdpb`yggs wgrg lebg t` tlog l‒si`ge`x—lfc hkbb kt hubb `h sdlbb akhts h`r l nikbc.Sigsg si`ge`xgs wgrg cgbkvgrgclr`ufc tig w`rbc t` nikbcrgf.Siks ks ltrgdgfc`us dkfkstry. Ogbbk Hblflalfiglcgc up tiks nilrkty h`r tig hkrd.

HUKGFC^IK] DK^^K@F^Hrkgfcsikp Dkssk`f ks l ]NL ]rgsey-

tgrklf niurni lfc sigbtgr b`nltgc `ftig wgstgrf skcg `h t`wf.Sig niurni lfc sigbtgr pr`vkcgs: tw` w`rsikp sgrv-kngs gvgry cly gxngpt ^lturcly? i`tdglbs h`r lbb i`dgbgss lfc p``r wi`lttgfc? lfc n`ufsgbkfa lfc Ekebg stucy `f wggofkaits h`r le`ut 7= dgf bkvkfa

kf tig sigbtgr. C`fltgc ktgds suni lseblfogts, lbb skzgs nb`tigs, f`f-prgsnrkp-tk`f cruas lfc pgrs`flb iyakgfg ktgds

wgrg plssgc `ut t` i`dgbgss lfc p``r pg`pbg kfskcg lfc `utskcg tig sigbtgr.

Qkbbl Nlrpgftgr iglcgc up tiks nilrkty h`r tig hkrd.

NL]KS@B IKBB FWU^KFA I@DGNlpkt`b Ikbb ks l furskfa i`dg kf tig

Nlpkt b Igkaits lrgl. Glni Nirkstdlstigy put up lf Lfagb Srgg h`r tig rgsk-cgfts. Glni Lfagb n`ftlkfs l rgskcgft‛sNirkstdls wksi bkst. Sigrg lrg usulbby f`t d`rg tilf `fg `r tw` sdlbb ktgds`f tig bkst, bkog b`tk`f lfc/`r sbkppgrs.@ur gdpb`yggs ‒lc`ptgc—lf lfagb lfchkbbgc tig rgskcgft‛s wksi bkst. Dlfy rgsk-cgfts c`f‛t gvgr rgngkvg vkskt`rs lfctigsg akhts dly eg tig `fby `fg tigy rgngkvg h`r Nirkstdls.Skfl Ebug iglcgcup tiks nilrkty h`r tig hkrd.

^@BCKGU DKFK^SU[ Kf lf ghh`rt t` si`w supp`rt lfc rlbby

d`rlbg h`r `ur tr `ps, `ur hkrd sgftNirkstdls plnolags t` s`dg `h tig s`b-ckgrs tilt ilvg eggf cgpb`ygc t` hkaitkf tig wlr. Siks yglr wg sgft 77 nlrgplnolags t` s`bckgrs wi` ilvg eggfcgpb`ygc t` hkait kf tig Qlr f Sgrr`r.

Qkti gxtgfskvg cgpb`ygc `pgrltk`fsgxpgntgc t` n`ftkfug h`r tig h`rgsgg-lebg huturg, `ur tr` ps wkbb rgqukrg, lfccgsgrvg, n`ftkfugc supp`rt hr`d ti`sg`h us h`r wi`d tigy lrg hkaitkfa.Ugalrcbgss `h tigkr p`sktk`f `f lfy plr-tknublr dkssk`f, tigsg dgf lfc w`dgflrg c`kfa tigkr cuty t` y`u lfc `ur n`uftry,a`kfa kf ilrd‛s wly lfc s`dg-tkdgs dlokfa tig ubtkdltg slnrkhkng.Sigy cgsgrvg `ur ufwlvgrkfa supp`rt.]bglsg oggp `ur tr``ps kf y`ur clkby prlygrs.Siks gvgft wls iglcgc up ey Slektil DnAukrg, h`r tig hkrd.

E GL^BG[ LBBGF Q GE^KSG Q KF^ S @] I @F@U^

Sig Eglsbgy Lbbgf wgesktg, www.EglsbgyLbbgf.n`d, wls rgngftby sgbgntgc ey Kftgrlntkvg Dgckl Lwlrcs℥ h`r @utstlfckfa Lnikgvgdgft kf tigBgalb Hkgbc.Siks ks tig sgn`fc n`fsgnu-tkvg yglr h`r tig hkrd‛s prkdlry wgesktgt` eg sgbgntgc h`r tiks i`f`r. KDL n`d-pgtktk`f ks `pgf t` kfckvkculbs lfc`ralfkzltk`fs kfv`bvgc kf cgskafkfa,cgvgb`pkfa, dlflakfa, supp`rtkfa lfcpr`d`tkfa wgesktgs.Lwlrc wkffgrs lrgsgbgntgc ey jucags wi` lrg ckstkf-auksigc pr`hgssk`flbs kf tig hkgbc `h

wge cgvgb`pdgft, lfc dgdegrs `h tigKftgrlntkvg Dgckl N`ufnkb, Kfn. (KDN).KDN ks l f`f-pr`hkt `ralfkzltk`f cgck-nltgc t` gvlbultkfa tig stlfclrcs `h gxngbbgfng `f tig kftgrfgt. ^ktgssgbgntgc h`r KDLs lrg jucagc `f nrktgrklkfnbuckfa cgskaf, n`ftgft, hglturg hufn-tk`flbkty, uslekbkty, stlfclrcs n`dpbk-lfng lfc nr`ss-er`wsgr n`dpltkekbkty.

^n`tt Si`dls ks tig Ckrgnt`r `h Kftgr-fgt ^grvkngs h`r Eglsbgy Lbbgf lfc c`gslf gxngbbgft j`e. Kt‛s lf kfnrgckebgi`f`r t` eg rgn`afkzgc h`r l sgn`fcstrlkait yglr. Kt tlogs l trgdgfc`ustgld ghh`rt t` dlkftlkf l wgesktg `h tiks skzg lfc n`dpbgxkty. Qg ilvg lfgxngptk`flbby cgcknltgc tgld `h pr`hgs-sk`flbs w`rokfa vgry ilrc lt tig hkrd t`dlkftlkf tigsg ikai stlfclrcs. Sig

hkrd‛s dgs`tigbk`dl lwlrgfgss eb`a, www.dyDgs`.`ra, lbs` rgngkvgc lfKftgrlntkvg Dgckl Lwlrc glrbkgr tiks

yglr.Lbb `h tig gdpb`yggs kf `ur QgeCgplrtdgft c` `utstlfckfa w`ro lfc

wg lrg pr`uc `h tigd lfc tigkr lnikgvgdgfts.

S @D D GSIXKF F LDGC ] UG^KCGFS @H E ULFSQ@@C E @LUC @H C KUGNS@U^

S`d Dgtivkf, Eglsbgy Lbbgf‛s dlfla-kfa silrgi`bcgr, wls rgngftby fldgc]rgskcgft `h tig E`lrc `h Ckrgnt`rs h`r Erlftw` c Nikbcrgf‛s I`dg. Erlft-

w``c ils eggf sgrvkfa nikbcrgf kfD`fta`dgry lfc tig Ukvgr Ugak`f h`r d`rg tilf ;= yglrs, igbpkfa fgabgntgclfc leusgc nikbcrgf ey pr`vkckfa tigdl i`dg lfc supgrvkskfa tigkr gcunl-tk`f, iglbti lfc s`nklb lcjustdgft kft`tig n`ddufkty. Erlftw``c nurrgftby sgrvgs nikbcrgf rlfakfa kf lag hr`d tgft` 5<, kfnbuckfa trlfsktk`flb pr`arlds

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t` igbp `bcgr y`utis d`vg hr dcgpgfcgft nlrg t` kfcgpgfcgft bkvkfasktultk`fs. D`rg tilf just l r``h `vgr tigkr iglcs, Erlftw` c pr`vkcgs lpblng t` egb`fa t` y`ufastgrs t`rfhr`d tigkr trlcktk`flb hldkby, `htgftir`uai trludltkn nkrnudstlfngs.

S`ds slys ig just hggbs ‒spgnklble`ut w`rokfa lt Erlftw``c wkti

tigsg nikbcrgf,— lfc tilt kt ‒just akvgsdg l a``c hggbkfa t` igbp.—Lf kfstktu-tk`f bkog tiks ks s` vktlb t` `ur n`ddu-fkty, lfc tigrg lrg s` dlfy iurtkfa

y`ufa h`bos `ut tigrg. Sir`uai f`hlubt `h tigkr `wf, dlfy c`f‛t ilvgtig sldg nilfng tilt `tigrs ilvg.

Qkti`ut pblngs bkog Erlftw``c, tigy‛cilvg f` pblng t` turf.

E GL^BG[ LBBGF ^ W]]@US^ @ WU D KBKSLU[

Lbb `h us lt Eglsbgy Lbbgf supp`rt tigdkbktlry lfc try t` igbp tig dkbktlry pgrs`ffgb. Ugngftby, tig hkrd sgft s`dgtgnifknlb ruffkfa sikrts t` l fudegr `h s`bckgrs kf Krlq.Qg hggb str`faby le`ut`ur `ebkaltk`f t` supp`rt tig dkbktlry lfc kt‛s a``c t` of`w tilt igbp hr`delno i`dg ks e`ti fggcgc lfc lpprgnk-ltgc. Qg rgngkvgc tiks bgttgr hr`d

Jghhrgy Q.Slbbgy, Erkalckgr Agfgrlb, W.^. Lrdy, n`fngrfkfa `ur akhts:

Kt ks wkti dy utd`st arltktucg tilt K tilfo y u lfc y ur blw hkrd h`r y`ur agfgr`skty kf c`fltkfa tgni- fknlb ruffkfa sikrts h`r `ur ^lppgr ^grkgs rufs igrg kf

Elaiclc. Sig sikrts wgrg l arglt rgwlrc h`r glni s`bckgr‛s cgcknl- tk`f lfc tkdg put h`rti kf trlkfkfa

h`r tig sgrkgs. [ ur gxtrl`rckflryghh rts lrg kf oggpkfa wkti tig

hkfgst trlcktk`fs `h dkbktlry supp`rt lfc rghbgnt ckstkfnt nrgckt up`f y`u, Eglsbgy, Lbbgf, Nr w,

Dgtivkf, ]`rtks & Dkbgs ].N., lfc tig nktkzgfs h tig Wfktgc tltgs.

Siks bgttgr wls ngrtlkfby lpprgnkltgclfc kt dlogs lbb `h us lt tig hkrd rglbkzgtilt igbpkfa `ur dkbktlry pgrs`ffgb ks

vgry kdp`rtlft. K gfn`urlag `tigrs t`tlog `f pr`jgnts tilt wkbb igbp ti`sg kf`ur dkbktlry wi` lrg `f h`rgkaf s`kbcurkfa tig i`bkclys.

YYX.^]GNKLBUGN@AFKSK@F^

S IG S KDG H @U N ILFAG G Y]UG^^GC K F LA @@C LFC D GLFKFAHWBQ L[

]gaay Qlbblng Ogffgcy, `fg `h tigcluaitgrs `h Ag`rag N. Qlbblng lfcBurbggf Qlbblng, e`ti `h wi`d wgrga`vgrf rs `h Lbleldl,ks dlrrkgc t` dy

vgry a``c hrkgfc, Dlro Ogffgcy, lrgtkrgc stltg ^uprgdg N`urt Justkng.SigOgffgcy‛s ilvg tw` s`fs,Bgkai, l cgn`-rltgc vgtgrlf `h tig Krlq wlr, lfcEurfs, l n`bbgag s`pi`d`rg. K ilvgof`wf ]gaay h`r yglrs lfc rglbby lpprgnkltg tig `esgrvltk`fs sig dlcgkf l rgngft kftgrvkgw wkti l rgp`rtgr h`r NFF. K ld kfnbuckfa ]gaay‛s n`d-dgfts hr`d tig kftgrvkgw kf tiks kssugegnlusg `h tigkr ikst`rknlb skafkhknlfng.Kt‛s l arglt tgstkd`fy lfc K ld pr`uc `h ]gaay.

D [ H LSIGU , A G@UAG Q LBBLNG , LFC E LULNO @ ELDL

K iglrc l nlr c``r sbld egikfc dg lfc turfgc t` sgg lf gbcgrbyeut spry w`dlf iglckfa dywly. Sig fkait egh`rg, l alfa `h

vlfclbs ilc swgpt tir`uai tigngdgtgry cgsgnrltkfa arlvgs,nrusikfa iglcst`fgs lfc stglbkfa

hufgrglb `ejgnts. Dy plrgfts‛ arlvgs, sktultgc `f l wkfc-swgpt ikbb `vgrb``okfa tig ngdgtgry, ilc f`t eggf splrgc. L blrag dlrebgurf tilt st``c egtwggf tw`

arlfktg n`budfs ilc eggf prkgc b``sg lfc spkrktgc lwly, bglvkfa

hlcgc skbo hb`wgrs strgwf `f tig a r`ufc. K wls i`bckfa l e`uqugt `h tigd kf dy lrds wigf tig

w`dlf wlbogc up lfc alvg dg lnrusikfa iua.‒I`fgy,— sig slkc,‒y`u c f‛t of`w dg, eut wigf K

slw y`u stlfckfa up igrg `f tiksikbb, K ofgw tilt y`u dust eg `fg`h tig akrbs lfc K n`ubcf‛t igbpdysgbh eut t` crkvg up igrg lfc bgt y`u of`w i`w duni dg lfc dy wi`bg hldkby b`vgc e`ti `h

y`ur plrgfts. Sigy wgrg rglb spgnklb pg`pbg.—

K tilfogc igr h`r igr okfc w`rcsls wg st``c skcg ey skcg alzkfa c`wf lt tig arlvgs `h A`vs.Ag`rag Qlbblng lfc BurbggfQlbblng.Lhtgr l hgw d`dgfts, tigw`dlf bglfgc kft` dg lfc sp`oglbd`st kf l n`fspkrlt`rklb wikspgr.‒K fgvgr ti`uait K w`ubc bkvg t` sgg tig cly wigf l eblnow`ubc eg ruffkfa h`r prgskcgft. K of`w y`ur clccy dust eg r`bbkfa `vgr kf iks arlvg.— F`t ilvkfa tigiglrt `r tig gfgray t` rgsp`fc, K

alvg igr e`fy lrd l sbkait squggzg, turfgc lfc wlbogc lwly. Ls K put tig rgdflfts h tig arlvg- ylrc sprly kf tig trufo `h dy nlr, K lssudgc tilt sig ilc f`t e`ti- grgc t` f`tkng tig Elrlno @eldl

stknogr `f dy eudpgr.

Qigf K wls l y`ufa v`tgr lfc ilc bkttbg kftgrgst kf p`bktkns, dy

hltigr w`ubc dlro dy elbb`t h`r dg. Ls K ti`uait le`ut tigw`dlf kf tig ngdgtgry, K dusgc tilt kh ig wgrg lbkvg lfc K ilc dlcg tig sldg rgqugst h`r tiksgbgntk`f, tigrg w`ubc eg l sue-

stlftklb nilfng, ti`uai f`t l ngr- tlkfty, tilt ig w`ubc put lf ‒Y— ey @eldl‛s fldg. ]grilps k t w`ubc eg tig blst nilptgr kf iks

sglrni h`r kffgr pglng tilt egnldg s` kdp`rtlft t` ikd lhtgr egn`dkfa l vkntkd `h iltrgc lfc vk`bgfng ikdsgbh wigf ig wls

si`t lfc arlvgby kfjurgc kf l Blur gb, Dlryblfc, si`ppkfa ngftgr plrokfa b`t. ]grilps kt w`ubc eg l wly `h rgn`fnkbkfa kfiks `wf dkfc tilt wilt ig `fng

st``c h`r ckc f`t prgvgft hrggc`d`h `pp`rtufkty lfc sgbh-lcvlfng- dgft hr`d n`dkfa hubb nkrnbg? iks

hkflb les`butk`f.

Ag`rag Qlbblng lfc `tigr ^`uti- grf a`vgrf`rs `h iks kbo st``c cghk- lftby kf tig <;7=s lfc ’8=s kf

supp`rt `h rlnklb sgargaltk`f, lnubturg `h rgprgssk`f, vk`bgfnglfc cgfklb h elskn iudlf rkaits.Sigkr lntk`fs lfc tig stlrokdlags `h tigkr n`fsgqugfngs tilt

sprglc lnr`ss tig w`rbc albvl- fkzgc tig fltk`f lfc alvg rksg t`l nry h r lf gfc t` tig Ldgrknlflplrtigkc. Sig hkrgst rds tilt wgrg bkt kf Ekrdkfaild, @xh`rc,

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Dgdpiks, Susnlb``sl, D`ft- a`dgry, Bkttbg U`no lfc ^gbdlwgrg l nlbb t` lrds t` wikni tig

pg`pbg rgsp fcgc.Lfc f`w l fgwnlbb t` lrds ils s`ufcgc ls

Ldgrknlfs hlng lf`tigr lsslubt `f hrggc`d.H`r kh tig stlfc kf tig

sni``bi`usg c``r wls l cghkfkfa d`dgft h`r Ag`rag Qlbblng, tigf

surgby tig lhtgrdlti `h Oltrkfllfc tig kfvlsk`f `h Krlq wkbb egtig sldg h`r Ag`rag Q. Eusi. Sigtrldpbkfa `h kfckvkculb hrggc`dslfc iks ebltlft n`ftgdpt h`r tigrkaits `h tig lvgrlag Ldgrknlfdly f`t ilvg eggf ls `evk`us lslf lx-ilfcbg-wkgbckfa a`vgrf`r,eut Eusi‛s kfskck`usfgss lfc

pkgty ilvg dlcg ikd duni d`rgclfagr`us.

Iglbkfa dust n`dg, i`pg wkbb eg`ur b`cgstlr, iudkbkty wkbb rgsilpg tig Ldgrknlf n`fsnkgfng,lfc i fgsty kf e ti w rc lfc cggc wkbb rghrgsi lfc kfvka`rltg

Ldgrknl, lfc ilvkfa Elrlno@eldl t` bglc wkbb akvg us elno`ur p`wgr t` iglb.Dy hltigr bkvgc b`fa gf`uai t` n`dg t` lf ufcgr-

stlfckfa `h tig kfjustkngs e`rfgey iks cggcs lfc tig bgalny `h suh-

hgrkfa tilt tigy bght egikfc. Ikst`ry wkbb tglni huturg agfgrl- tk`fs tilt ig wls l dlf wi`usgc iks p`bktknlb p`wgr t`

pr`d`tg l pikb`s`piy `h gxnbu- sk`f. Ls iks cluaitgr, wi` wkt- fgssgc iks suhhgrkfa kf tig twkbkait `h iks yglrs lfc wi` wktfgssgc iks cggcs lfc iglrc iks w`rcs, K ld `fg wi` egbkgvgs tilt tigdlf wi , `f Dlrni 1, <;87, bks- tgfgc t` tig rgp`rts `h erutlbkty lstigy strgldgc kft` tig A`vgrf`r‛s

Dlfsk`f hr`d ^gbdl, Lbleldl,wls f t t ig sldg dlf wi , kf

Dlrni `h <;;7, wls wgbn`dgc wkti `pgf lrds ls ig wls r`bbgc tir`uai l sgl `h Lhrknlf-Ldgrk- nlf dgf, w`dgf lfc nikbcrgfwi` altigrgc wkti ikd t`wgbn`dg lf`tigr agfgrltk`f `h dlrnigrs, rgtrlnkfa kf i`f`r lfc rgdgderlfng tig ikst`rkn stgps

hr`d ^gbdl t` D`fta dgry.

H`ur yglrs la`, tig y`ufa Kbbkf`ks sgflt`r wi` sp`og lt tig Cgd`n- rltkn Fltk`flb N`fvgftk`f dgs-

dgrkzgc dg. K i`pgc gvgf tigftilt ig w`ubc `fg cly eg dy

prgskcgft. S`cly, Elrlno @eldlks i`pg h`r l egttgr t`d`rr`w h`r lbb Ldgrknlfs. Ig stlfcs `f tig

si`ubcgrs `h lbb ti`sg pg`pbg wi`ilvg kfngsslftby prlygc h`r l clywigf ‒justkng wkbb ruf c`wf bkogwltgrs lfc rkaitg`usfgss ls ldkaity strgld— (Ld`s 7:53).

]grilps `fg cly, dy tw` s`fslfc K wkbb ilvg tig `pp`rtufkty t`dggt Elrlno @eldl kf pgrs`f t`gxprgss `ur arltktucg t` ikd h`r erkfakfa `ur hldkby hubb nkrnbg.

Lfc t`cly, tig cly lhtgr tig gbgn- tk`f, K ld a`kfa t rkcg t` tigngdgtgry s` tilt kh lsogc, K nlfv`uni h`r tig hlnt tilt tig w`rbc ks stkbb spkffkfa eut dy hltigr bkgslt pglng.

Sig `pkfk`fs gxprgssgc kf tiksn`ddgftlry lrg s`bgby ti`sg `h

]gaay Qlbblng Ogffgcy.

LBLELDL BLQ[GU^ @ HHGU S @BB-H UGG I @SBKFG

^tlrtkfa `f F`vgdegr <5 ti ,Lbleldlblwygrs wkbb lfswgr l t bb-hrgg i`tbkfgt` lsskst i`dg`wfgrs hlngc wkti h`rg-nb`surg, lnn`rckfa t` tig Lbleldl ^tltgElr lfc Bgalb ^grvkngs Lbleldl, tw``ralfkzltk`fs tilt plrtfgrgc t` pr`vkcgtig sgrvkng. Sig i`tbkfg fudegr ks <-911->;>-5>>>, lnn`rckfa t` Erlc Nlrr,ckrgnt`r `h n`ddufknltk`fs h`r tig^tltg Elr kf D`fta`dgry. Igbp ks hrgg t`lfy`fg.‒[ u nlf `wf l DnDlfsk`f `r l d`cgst i`dg? kt c`gsf‛t dlttgr,— igslkc. Blwygrs hr`d lbb `vgr tig stltg

wkbb stlhh tig i`tbkfg.‒Sigrg lrg h`rgnb`-surg pr`ngcurgs ls skdpbg ls wrktkfa lbgttgr t` y`ur bgfcgr, lfc tig ltt`rfgysnlf c` tilt,— Nlrr slkc. ‒@r tigy nlfigbp kf l dgckltk`f wkti y`ur bgfcgr.—

Kh tig dlttgr ks lbrglcy kf bktkaltk`flfc tig i`dg`wfgr fggcs rgprgsgftl-tk`f kf n`urt, tig i`dg`wfgr wkbb egnilragc l hgg, wkti tig ld`uft elsgc`f tig pgrs`f‛s kfn`dg, ig slkc.

Lbleldl ils tw` okfcs `h h`rgnb`surgpr`nggckfas, jucknklb lfc f`f-jucknklb,lnn`rckfa t` S`d Dgtivkf, `ur Dlfla-kfa ^ilrgi`bcgr, wi` ks prgskcgft-gbgnt`h tig ^tltg Elr.S`d slys f`f-jucknklbh`rgnb`surgs lr g d`st n dd`f lfc nlf`nnur wktikf 5< clys lfc tilt‛s wiy kt

ks nrunklb h`r i`dg`wfgrs wi` ilvgdkssgc dlokfa gvgf `fg d`ftiby d`rt-alag plydgft t` nlbb tig i`tbkfg kddg-ckltgby.

Sig f`fpr`hkt Bgalb ^grvkngs Lbleldl, wikni pr`vkcgs bgalb lssks-tlfng t` b`w-kfn`dg Lbleldklfs, plystig blwygrs t` dlf tig i`tbkfg. Sign`st ks n`vgrgc ey l arlft hr`d tig

Lbleldl Nkvkb Justkng H`ufcltk`f lfc Lnngss t` Justkng N`ddkssk`f. H`r d`rg kfh`rdltk`f `f h`rgnb`surgs,a` t`tig tltg Elr‛s wge sktg lt www.lblelr. ra.

L ] GU^@FLB ^ S@U[ LE@WS N [^SKN H KEU@^K^

Sig h`bb`wkfa ks hr`d l spggni akvgfey Dlry Bkfcsgy Ilfflilf lt tig‒Ergltig h`r Bkhg—albl kf egfghkt `h tigNystkn Hker`sks H`ufcltk`f . Dlry Bkfcsgy, wi` ils Nystkn Hker`sks, ks S dDgtivkf‛s fkgng. Dlry Bkfcsgy, wi`bkvgs kf D`ekbg wkti igr plrgfts, ilseggf w`rokfa ilrc kf tig nldplkaf t`hkfc l nurg h`r Nystkn Hker`sks.Siks ksigr st`ry:

Igbb`, gvgry fg! Dy fldg ks Dlry Bkfcsgy Ilffli lf. Lfc K ilvgNystkn Hker`sks, tig n`dd`f nlusg`h wikni wg lrg lbb igrg h`r. K w`ubc bkog t` tilfo glni lfc gvgry `fg `h y`u h`r n`dkfa, lfc igbpkfa dlog NH stlfc h`r ‒Nurg

H`ufc—. Nystkn Hker`sks agts f` hgcgrlb hufckfa, s` kt ks egnlusg `h nlrkfa pg`pbg bkog y`u tilt fgwtrgltdgfts lrg hufcgc. @fbyle`ut >=,=== nikbcrgf lfc lcubtskf tig W.^. ilvg NH. NH lhhgntsdlkfby tig bufa lfc ckagstkvg

systgds. Dy e`cy pr`cungs wlyd`rg dunus tilf kt si`ubc.Siksnb`as tig lkrwlys kf dy bufaslfc prgvgfts tig wiktg eb``c ngbbs

hr`d n`dkfa `ut lfc c`kfa tigkr j`e, wikni ks hkaitkfa tig dubtk- tucg `h gxtrl agrds tilt agt stunokf lbb tig dunus. Kf dy ckagstkvg

systgd, tig dunus eb`nos tigckagstkvg gfzydgs hr`d c`kfa wilt tigy si`ubc c , ckagst dy

h``c. K tlo g le`ut 7= pkbbs gvgrycly, lfc K ilvg t` tlog pkbbs gvgry

skfabg tkdg K t`uni lfy s`rt `h suestlfng tilt gvgf nb`sgby rgsgd- ebgs h `c t` dy d`uti. Siks ksegnlusg K wlft t` eg lebg t`

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ckagst tig h``c, s` egh`rg K glt K ilvg t` tlog ckagstkvg gfzydgs.@tigrwksg, K dkait eg gxtrgdgbydlbf`urksigc.

K a` kf tig i`spktlb le`ut `fng l yglr. K ilvg ilc skfus suragrytirgg tkdgs, egnlusg Nystkn Hker -

sks f`t `fby lhhgnts dy bufas lfc ckagstkvg systgd, f` f , t il t w`ubc eg duni t` glsy t` cglb wkti. Kt lbs` lhhgnts dy skfusgs. K wls kf tig i`spktlb blst wggo h`r dy skfusgs lfc dy bufas, lntu- lbby. Sigf K ilc t` eg `f tw`wggos w`rti h KX lftkek`tkns.K‛dlntulbby `f KX lftkek`tkns rkait f`w. D`st pg`pbg wkti NH ilvg t`

a` kft` tig i`spktlb dubtkpbgtkdgs kf l yglr. K‛d l bunoy `fg,ls kr`fkn ls tilt s`ufcs. Egnlusg`h pg`pbg bkog y`u, gvgry`fg wktiNH‛s qulbkty `h bkhg ks s` dunikdpr`vgc. Qg c`f‛t agt skno ls`htgf lfc tig kfhgntk`fs lrg glskgr t` trglt. Sig lvgrlag bkhg splf `h

s`dg`fg wkti NH a`gs up l yglr,gvgry yglr. Ukait f`w kt‛s lt >9.Siks sggds rglbby y ufa, lfc kt ks.

Eut kt‛s prlntknlbby lfnkgft n`d- plrgc t` wilt tig bkhg splf wlsle`ut hkhtggf yglrs la`.

Sig rgls`f tiks dglfs s` duni t`dg ks egnlusg kt w`ubc arlft dgdy wksi tilt K ilvg n`fskstgftby

wksigc h`r `f gvgry ekrticly nloglfc kf gvgry fkait tkdg prlygr

skfng K wls cklaf`sgc wkti tikscksglsg lt tw` yglrs `bc. K try lsilrc ls K nlf t` rgdlkf p`sktkvglfc upeglt gvgry cly. Eut ls K agt `bcgr, lfc tig cksglsg pr`argssgs,kt pr`vgs gxtrgdgby ckhhknubt t` c`

s`. Eut K try egnlusg, t` eg i`fgst,tiks ks lf ufprgckntlebg cksglsg,lfc wi` of`ws wigf K w`f‛t ilvg tilt nilfng lfyd`rg0 Dy`fg skfabg wksi ks t` wlog up `fgd`rfkfa lfc f`t tikfo,‒ w`ubc kt eg d`st n`fvgfkgft t` c` dytrgltdgfts `r tlog dy pkbbs egh`rgerglohlst0— K c`f‛t wlft t` sokptigd egnlusg K wlft t`, lfc ilvgtig aukbty ti `uait `h ‒K si`ubcf‛t ilvg sokppgc ti`sg t`cly— kf tigelno `h dy dkfc. K wlft t` sokptigd egnlusg K c`f‛t fggc tigdlfyd`rg. K wlft t` eg hrgg hr`dtig n`fhkfkfa elrrkgrs `h tiks

cksglsg. K wlft t` eg lebg t` egbkog lbb dy hrkgfcs, lfc f`t dlogtigd skt h`r lf i`ur gvgryd`rfkfa lfc fkait K stly wktitigd s` K nlf stly s`dgwilt iglbtiy. K wlft t` eg lebg t` bluaiwi`bgiglrtgcby lfc f`t ilvg ln`uaikfa hkt lhtgrwlrcs.K wlft t`eg lebg t` ruf lfc f`t n`uai lfc eg `ut `h erglti lhtgr l si`rt tkdg.

K tilfo y`u hr`d tig e`tt`d `h dy iglrt h`r igbpkfa t` arlft dyekaagst, lfc gvgry `tigr pgrs`f‛swkti Nystkn Hker sks‛s wksi. ^`tilfo y`u, `fng lalkf, h r gvgry- tikfa y`u ilvg c`fg t` lkc dglfc `tigrs wkti tiks cksglsg kfdlokfa tiks crgld l rglbkty.

„ Dlry Bkfcsgy Ilfflilf

LBLELDL Q KF^ LF@SIGU F LSK@FLBS @WUK^D LQLUC

Sig [glr `h Lbleldl Lrts pr`d`tk`fey tig Lbleldl S`urksd Cgplrtdgftils w`f lf`tigr fltk`flb lwlrc. SigSrlvgb Kfcustry Lss`nkltk`f ils prg-sgftgc Lbleldl wkti kts ‒Cksn`vgr

Ldgrknl— lwlrc. Sig [glr `h Lbleldl Lrts pr`d`tk`f wls prgvk`usby fldgcegst stltg pr`d`tk`f ey tig Fltk`flbN`ufnkb `h ^tltg S`urksd Ckrgnt`rs lfc

rgngkvgc Srlvgb Qggoby‛s Dlagbblflwlrc h`r pr`d`tk`f `h nubturg lfc tiglrts. S`urksd bglcgrs wgrg i`f rgcrgngftby lt tig Nlpkt`b h`r tigkr w`ro `f tig pr`d`tk`f.

Fltk`flb lwlrcs bkog tigsg lrgigbpkfa rgcghkfg tig kdlag `h Lbleldllfc grlsg stgrg`typgs tilt ilvg eggflr`ufc h`r 7= yglrs. Sig [glr `h

Lbleldl Lrts pr`d tk`f put l sp`tbkait`f tig lrts tir`uai`ut tig stltg. Kt pr`-d`tgc gvgrytikfa hr`d tig Lbleldl^ydpi`fy @rnigstrl t` h bo lrtksts bkog

B`ffkg I`bbgy lfc D`sg S`bbkvgr. Bgg^gftgbb,wi` iglcs up tig Cgplrtdgft,c`gs lf `utstlfckfa j`e h`r Lbleldllfc kts nktkzgfs.Qkti`ut l c`uet, Bgg ksl‒supgr slbgsdlf—h`r `ur stltg.

LBLELDL BLQ[GU Q KF^ F LSK@FLB LQLUC

Lbleldl blwygr ^tgpigf Eblno ilseggf sgbgntgc ls `fg `h tgf pg`pbg

fltk`fwkcg t` rgngkvg tig N`ddufkty Iglbti Bglcgrs Lwlrc hr`d tig U`egrt

Q``c J`ifs`f H`ufcltk`f. Sig$<57,=== lwlrc i`f`rs pg`pbg wi`lrg tlnobkfa s`dg `h Ldgrknlf‛s d`stnilbbgfakfa iglbti pr`ebgds. ^tgpigf

wls sgbgntgc h`r stlrtkfa H`nusHkrst kf5==3. Sig pr`arld ils pr vkcgc gygsnrggfkfas h`r d`rg tilf 3=,===

prgsni``bgrs kf b`w-kfn`dg lrglstir`uai`ut Lbleldl.Le`ut 7,=== nikb-crgf ilvg hlkbgc tig vksk`f snrggfkfaslfc eggf rghgrrgc t` h`bb`w-up nlrg.

Lwlrc dlflagr Jlfkng H`rc Arkhhkf slystilt ^tgpigf‛s kff`vltkvg w`ro ksilvkfa l dlj`r kdplnt `f tig wgbb-egkfa `h y`ufastgrs. Nurrgftby, ig ksckrgnt`r `h tig Ngftgr h`r Gtikns lfc^`nklb Ugsp`fskekbkty lt tig Wfkvgrskty `h Lbleldl.^`urng: Lss`nkltgc ]rgss

YYXK.^@DG NB@^KFA@E^GUXLSK@F^

] UL[GU S ILS Q @UO^ LS @ WU H KUD

Sig h`bb`wkfa ks l prlygr tilt w`roskf tig w`ropblng wigf ckhhknubt kssugslfc pr`ebgds ilvg t` eg cglbt wkti. Krgn`ddgfc kt.

B`rc, h`rakvg dg h`r trykfa t` put squlrg pgas kft` r`ufc i`bgs lfc igbp dg t` sgg dy w`ro ls lnlbbkfa hr`d [ u, rgalrcbgss h tigtypg `h w`ro K ld kf. Igbp dg t`

hubhkbb [ ur purp`sg h r dg igrg kfdy w`ropblng. Ldgf.

S IG K FNUGL^G K F ] U@HLFKS[ @ F S GBGXK^K@F^ I@WBC F @S E G ] GUDKSSGC

Kf kts bltgst ar`ufc-erglokfa stucy,tig ]lrgfts Sgbgvksk`f N`ufnkb ilsh`ufc tilt pr`hlfkty `f prkdg-tkdger lcnlst tgbgvksk`f f`t `fby ilskfnrglsgc skfng <;;9, eut tilt ilrsigr pr`hlfkty ils lbs` egn`dg d`rgn`dd`f. D`rg tilf l qulrtgr `h tiggxpbgtkvgs nikbcrgf iglr ufebggpgc `r plrtklbby-ebggpgc `f er`lcnlst tgbgvk-sk`f t`cly lrg s`dg h`rd `h tig ‒h-

w`rc,—tig ‒s-w`rc,—`r tig ‒e-w`rc.—Siksstucy si`ws tilt lhtgr lf gxpbgtkvg ks

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hkrst usgc `f tgbgvksk`f, uslag `h tig w`rc egn`dgs n`dd`fpblng kf hlkrby si`rt `rcgr. Kt lppglrs tilt tig er`lc-nlst fgtw`ros tigf hggb tig fggc t` uptig lftg wkti gvgf d`rg pr`hlfkty.Sigrgsubt ks tilt tigrg ils eggf l iuagkfnrglsg kf tig `vgrlbb usg `h pr`hlfkty `f tig puebkn lkrwlvgs, lfc lf gsnlbl-tk`f kf tig `hhgfskvgfgss `h tig w`rcs

usgc. D`st plrgfts c`f‛t wlft tig lkr- wlvgs hkbbgc wkti hkbtiy blfaulag curkfai`urs wigf nikbcrgf lrg d`st bkogby t`eg kf tig luckgfng. Eut tig fgtw`rosc`f‛t lppglr t` nlrg lfc n`ftkfug wkti pr`arlddkfa tilt agts w`rsg `f l

wggoby elsks.@f F`vgdegr 3 ti , tig ^uprgdg

N`urt iglrc lraudgfts kf tig s`-nlbbgc ‒hbggtkfa— pr`hlfkty nlsg kfv`bv-kfa H`x, wikni wkbb cgnkcg wigtigr tig Hgcgrlb N`ddufknltk`fs N`ddks-sk`f nlf hkfg er`lcnlstgrs h`r lkrkfa

tig ‒h-w`rc— lfc ‒s-w`rc— kf prkdgtkdg. Kh tig fgtw`ros lrg sunngsshub kfnblkdkfa l bgalb ‒rkait—t` lkr gxpbgtkvgslt lfy tkdg `h cly, tig HSN stucy si`ws tilt pr`hlfktkgs wkbb kfnrglsggvgf d rg `f er`lcnlst tgbgvksk`f–gvgf wigf dkbbk`fs `h nikbcrgf lrg kftig luckgfng. Kf <;15, tig bltg n`dg-cklf Ag`rag Nlrbkf slkc kf l n`dgcy r`utkfg tilt tigrg wgrg‒^gvgf Q`rcs

[ u Nlf Fgvgr ^ly `f Sgbgvksk`f.—S`cly, skx `h ti`sg sgvgf w`rcs ilvglkrgc ufgcktgc `f er`lcnlst SX curkfa

prkdg-tkdg vkgwkfa i`urs.]lrgfts lfc n`fngrfgc nktkzgfs dustspglo `ut t` tigkr rgprgsgftltkvgs kfN`fargss lfc urag tigd t` akvg tigHNN tig p`wgr t` gfh`rng er`lcnlstcgngfny blws. Wftkb N`fargss lnts, wg

wkbb n`ftkfug t` sgg gvgf d`rg, lfcilrsigr, h`ub blfaulag `f prkdg-tkdger`lcnlst SX kf tig yglrs t` n`dg.]bglsg tlog tig tkdg t` n`ftlnt y`ur I`usg dgdegr lfc W.^. ^gflt`rs lfcbgt tigd of`w tilt tgbgvksk`f er`lc-nlstkfa dust eg nbglfgc up.^`urng: HSN Fgws Ugbglsg

H LX@UKSG E KEBG X GU^G

Sig vgrsg sgt `ut egb`w nldg hr`dElrelrl H`wbgr, l rgtkrgc sni``b tglnigr hr`d D`fta`dgry, l str`fa Nirkstklf,

wi` bkvgs `ut igr hlkti f l clkby elsks.

Kh wg n`fhgss `ur skfs, ig ks hlkti- hub lfc just t` h`rakvg us `ur skfs,

lfc t` nbglfsg us hr`d lbb ufrkaitg`usfgss.

< J if <:;

Dy n`uskf, A.E. Eglsbgy, wi` wls lf`utstlfckfa h``telbb n`lni kf F`rti

Lbleldl, lfc wi` bltgr sgrvgc ls prkf-nkplb lt H`rt ]lyfg Ikai ^ni``b, sgft kfiks hlv`rktg vgrsg.

Silt kh ti`u silbt n`fhgss wkti tiyd`uti tig B`rc Jgsus, lfc silbt egbkgvg kf tikfg iglrt tilt A`c ilti rlksgc ikd hr`d tig cglc,ti`u silbt eg slvgc. H`r wkti tigiglrt dlf egbkgvgti uft` rkait- g`usfgss? lfc wkti tig d`utin`fhgssk`f ks dlcg uft` slbvl- tk`f.

U`dlfs <=:;-<=

Sig h`bb`wkfa vgrsg n`dgs hr`d

Lfagbl Slbbgy, wi` sgrvgs ls DkogNr`w‛s bgalb sgnrgtlry kf `ur ]grs`flbKfjury ^gntk`f.

Sig tikgh n`dgti f t, eut h`r t` stglb, lfc t` okbb, lfc t` cgstr`y: K ld n`dg s` tilt tigy dkait ilvgbkhg lfc ilvg kt d`rg leufclftby.

J`if <=:<=

Dy b`fatkdg hrkgfc Gc Dlssgy, l vgry a``c D`ekbg blwygr,sgft kf iks hlv`rktg

vgrsg:

Bgt f`t dgrny lfc truti h`rslog y`u? Ekfc tigd lr`ufc y`ur fgno, Qrktg tigd `f tig tlebgt h

y`ur iglrt, Lfc s` hkfc hlv`r lfc ikai gstggd Kf tig skait `h A`c lfc dlf.

]r`vgres >:>-3

] BL[ S @ Q KF K ^ L Q KFFGU

Jgrry Ab`vgr, wi`sg s`f Nirks ks l

blwygr kf `ur hkrd, wls tig iglc h `t-elbb dlflagr curkfa iks tkdg lt tig Wfk-

vgrskty `h Lbleldl lfc N`lni ]lubErylft wls iks e`ss. Jgrry ils l arglte``o `f tig dlrogt, ]bly S Qkf ,wikni ks iks bkhg st`ry.Kt‛s l st`ry tilt lbb h`bos

wi` lrg sglrnikfa h`r rglb dglfkfa kftigkr bkvgs `r wi` lrg struaabkfa wkti t`uai pr`ebgds si`ubc rglc. K rgn`d-dgfc kt.

YYXKK.D[ ]LUSKFAQ@UC^

Ls wg lppr`lni tig Nirkstdlssgls`f, K nlf tikfo `h f` egttgr wly t`dlog `ursgbvgs rglcy lfc t` put tigsgls`f kf tig pr`pgr pgrspgntkvg tilft` gdpilskzg tig rglb Nirkstdls st`ry kf hldkby sgttkfas curkfa tig wggosbglckfa up t` Nirkstdls Cly. L hgw h`bos lrg pr`fg t` rgpglt–wkti`utrglbby ufcgrstlfckfa kts trug dglfkfa–tilt ‒Jgsus ks tig rgls`f h`r tigsgls`f.—Ls l dlttgr `h hlnt, tigrg nlfeg f` trugr stltgdgft.Qg lbwlys fggc

Jgsus, eut tig fggcs dly eg argltgr tiks yglr lt Nirkstdls tilf gvgr egh`rg. @ur fltk`f‛s gn`f`dy ks kfsildebgs, h`bos lrg rglbby iurtkfa lfc

Ldgrknlfs ls l wi`bg lrg argltby n`f-ngrfgc. Ey puttkfa `ur n`dpbgtg trustlfc cgpgfcgfng kf `ur B`rc lfc^lvk`r wg nlf ilfcbg wiltgvgr n`dgs`ur wly.L a``c wly t` spgfc tig clys`h tiks d`fti bglckfa up t` NirkstdlsCly ks t` akvg i`f`r t` Jgsus lfc n`f-tkfulbby prlksg Iks fldg. K ld kfnbuc-kfa h`r y`ur n`fvgfkgfng tig rglbNirkstdls st`ry.

S IG N IUK^SDL^ ^ S@U[

BWOG 5:<-5=

Kf ti`sg clys Nlgslr Luaustuskssugc l cgnrgg tilt l ngfsus

si`ubc eg tlogf `h tig gftkrg U`dlf w`rbc. (Siks wls tig hkrst ngfsus tilt t``o pblng wikbg\ukrkfkus wls a`vgrf`r `h ^yrkl.)

Lfc gvgry`fg wgft t` iks `wft`wf t` rgakstgr. ^` J sgpi lbs`wgft up hr`d tig t`wf `h

Flzlrgti kf Albkbgg t` Jucgl, t` Egtibgigd tig t`wf `h Clvkc,egnlusg ig egb`fagc t` tig i`usglfc bkfg `h Clvkc. Ig wgft tigrgt` rgakstgr wkti Dlry, wi` wls

pbgcagc t eg dlrrkgc t` ikd lfc wls gxpgntkfa l nikbc.Qikbg tigywgrg tigrg, tig tkdg nldg h`r tigeley t` eg e`rf, lfc sig alvgekrti t` igr hkrste`rf, l s`f. ^igwrlppgc ikd kf nb`tis lfc pblngc ikd kf l dlfagr, egnlusg tigrgwls f` r``d h`r tigd kf tig kff.

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Lfc tigrg wgrg sigpigrcs bkvkfa `ut kf tig hkgbcs fglrey, oggpkfa wltni `vgr tigkr hb`nos lt fkait.

Lf lfagb `h tig B`rc lppglrgc t`tigd, lfc tig ab`ry `h tig B`rc

si`fg lr`ufc tigd, lfc tigywgrg tgrrkhkgc. Eut tig lfagb slkc t` tigd,‒C` f`t eg lhrlkc. K erkfa

y`u a``c fgws `h arglt j`y tilt wkbb eg h`r lbb tig pg`pbg.S`cly kftig t`wf `h Clvkc l ^lvk`r ilseggf e`rf t` y u? ig ks Nirkst tig

B`rc. Siks wkbb eg l skaf t` y`u:[`u wkbb hkfc l eley wrlppgc kfnb`tis lfc bykfa kf l dlfagr.— ^uccgfby l arglt n`dplfy `h tigiglvgfby i`st lppglrgc wkti tig

lfagb, prlkskfa A`c lfc slykfa,‒Ab`ry t` A`c kf tig ikaigst, lfc `f glrti pglng t` dgf `f wi`diks hlv`r rgsts.— Qigf tig lfagbsilc bght tigd lfc a`fg kft`iglvgf, tig sigpigrcs slkc t` `fglf`tigr, ‒Bgt‛s a` t` Egtibgigdlfc sgg tiks tikfa tilt ils ilp-

pgfgc, wikni tig B`rc ils t`bc usle`ut.—

^` tigy iurrkgc `hh lfc h`ufc Dlry lfc J`sgpi, lfc tig eley,wi` wls bykfa kf tig dlfagr.Qigf tigy ilc sggf ikd, tigy

sprglc tig w`rc n`fngrfkfa wilt ilc eggf t`bc tigd le`ut tiksnikbc, lfc lbb wi` iglrc kt wgrg

ldlzgc lt wilt tig sigpigrcs slkc t` tigd. Eut Dlry trglsurgc up lbb tigsg tikfas lfc p`fcgrgc tigd kf igr iglrt.Sig sigpigrcsrgturfgc, ab`rkhykfa lfc prlkskfa A`c h`r lbb tig tikfas tigy ilc iglrc lfc sggf, wikni wgrg just ls tigy ilc eggf t`bc.

Qkti lbb `h tig c``d lfc ab``d tilth`bos lrg egkfa ikt wkti tigsg clys, kt

wkbb eg ckhhknubt t agt tir`uai tig i`bk-clys wkti`ut tig str`fa ilfc `h JgsusNirkst bglckfa us. Dy prlygr ks h`r glni `h y`u lfc y`ur hldkbkgs t` ilvg l

j`y`us Nirkstdls lfc l truby ebgssgcFgw [glr.

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S` vkgw tiks puebknltk f `f-bkfg,

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F` rgprgsgftltk`f ks dlcg tilt tig qulbkty `h bgalb sgrvkngs t` eg pgrh`rdgc ks argltgr tilf tig qulbkty `h bgalb sgrvkngs pgrh`rdgc ey `tigr blwygrs.

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