lcc 2006 annual report - prince edward island · q~ÄäÉ=çÑ=`çåíÉåíë...

mêáåÅÉ=bÇï~êÇ=fëä~åÇiáèìçê=`çåíêçä=`çããáëëáçå

RUíÜ=^ååì~ä=oÉéçêí

cçê=íÜÉ=vÉ~ê=båÇÉÇj~êÅÜ=PNI=OMMS

cÉ~íìêÉÇ=áå=íÜáë=óÉ~êÛë=~ååì~ä=êÉéçêí~êÉ=éÜçíçë=Ñêçã

dê~åîáääÉ=píêÉÉí=iáèìçê=píçêÉáå=pìããÉêëáÇÉ

`çêéçê~íÉ=sáëáçåqÜÉ=mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä=`çããáëëáçå=ïáää=ÄÉ=êÉÅçÖåáòÉÇ=~ë=~=íêìäó=ëìéÉêáçêêÉí~áäÉê=áå=mêáåÅÉ=bÇï~êÇ=fëä~åÇK=tÉ=ïáää=~ÅÜáÉîÉ=íÜáë=íÜêçìÖÜ=èì~äáíó=éêçÇìÅíëI=ãçÇÉêåíÉÅÜåçäçÖó=~åÇ=áåÅêÉ~ëÉÇ=ëÉêîáÅÉëK=tÉ=áåíÉåÇ=íç=ÄìáäÇ=ÄÉííÉê=êÉä~íáçåëÜáéë=ïáíÜ=ÅìëíçãÉêë=~åÇëìééäáÉêëK=tÉ=ïáää=~äï~óë=ëíêáîÉ=Ñçê=íÜÉ=ÄÉëí=éçëëáÄäÉ=î~äìÉ=Ñçê=çìê=ÅìëíçãÉêëI=ëí~ÑÑ=~åÇ=çíÜÉêëí~âÉÜçäÇÉêëK

jáëëáçå=pí~íÉãÉåíqÜÉ=mbf=iáèìçê=`çåíêçä=`çããáëëáçå=êÉÖìä~íÉë=íÜÉ=ë~äÉ=çÑ=ÄÉîÉê~ÖÉÇ=~äÅçÜçä=ìåÇÉê=íÜÉ=~ìíÜçêáíó=çÑíÜÉ=iáèìçê=`çåíêçä=^ÅíK=fí=ã~å~ÖÉë=íÜÉ=ÇáëíêáÄìíáçå=çÑ=~äÅçÜçä=ÄóW

√ çéÉê~íáåÖ=áå=~=ëçÅá~ääó=êÉëéçåëáÄäÉ=ã~ååÉêX

√ ~ÅÜáÉîáåÖ=íÜÉ=êÉîÉåìÉ=Öç~äë=çÑ=íÜÉ=mêçîáåÅá~ä=dçîÉêåãÉåíX

√ éêçîáÇáåÖ=ëìééäáÉêë=ïáíÜ=ÅçåíêçääÉÇ=~ÅÅÉëë=íç=íÜÉ=ã~êâÉíéä~ÅÉ=çå=~=Ñ~áê=Ä~ëáë=Ñêçã=ãçÇÉêåI~ííê~ÅíáîÉ=îÉåìÉëX

√ ÉåÅçìê~ÖáåÖ=êÉëéçåëáÄáäáíó=~åÇ=ãçÇÉê~íáçå=áå=íÜÉ=Åçåëìãéíáçå=çÑ=ÄÉîÉê~ÖÉÇ=~äÅçÜçäX=~åÇ

√ éêçîáÇáåÖ=áíë=ÉãéäçóÉÉë=ïáíÜ=Éèì~äáíó=çÑ=çééçêíìåáíó=~åÇ=áåÅêÉ~ëÉÇ=íê~áåáåÖ=éêçÖê~ãë=íÜ~í~ëëáëí=áå=íÜÉ=áåÇáîáÇì~äÛë=éÉêëçå~ä=ÇÉîÉäçéãÉåí=~åÇ=áå=íÜÉ=ÅçããáëëáçåÛë=çîÉê~ää=ÅìëíçãÉêëÉêîáÅÉ=ëíê~íÉÖóK

`çêéçê~íÉ=s~äìÉë√ jçÇÉê~íáçå=Ó=tÉ=éêçãçíÉ=êÉëéçåëáÄäÉ=ìëÉ=~ë=~=ï~ó=çÑ=äáÑÉK

√ nì~äáíó=pÉêîáÅÉ=Ó=tÉ=í~âÉ=éêáÇÉ=áå=íÜÉ=èì~äáíó=çÑ=çìê=ïçêâK=tÉ=ëíêáîÉ=Ñçê=ÉñÅÉääÉåÅÉ=áå=Å~êáåÖ=Ñçêçìê=ÅìëíçãÉêëI=ëìééäáÉêë=~åÇ=çåÉ=~åçíÜÉêK

√ `çåíáåìçìë=fãéêçîÉãÉåí=Ó=^ë=~=êÉí~áäÉêI=ïÉ=ïÉäÅçãÉ=ÅÜ~åÖÉK=tÉ=~êÉ=ÅçããáííÉÇ=íç=ÅçåíáåìçìëáãéêçîÉãÉåí=íç=~ää=çìê=ëÉêîáÅÉëK

√ fåíÉÖêáíó=~åÇ=c~áêåÉëë=Ó=tÉ=í~âÉ=êÉëéçåëáÄáäáíó=~åÇ=~êÉ=Ñìääó=~ÅÅçìåí~ÄäÉ=Ñçê=çìê=~ÅíáçåëIÇÉÅáëáçåë=~åÇ=ÄÉÜ~îáçìêK=tÉ=ãÉÉí=çìê=ÅçããáíãÉåíë=~åÇ=çÄäáÖ~íáçåë=íç=ÅçJïçêâÉêëI=ÅìëíçãÉêë~åÇ=ÄìëáåÉëë=é~êíåÉêëK=tÉ=~êÉ=çéÉåI=ÜçåÉëí=~åÇ=Ñ~áêK

√ fãéçêí~åÅÉ=çÑ=mÉçéäÉ=Ó=tÉ=~êÉ=ÅçããáííÉÇ=íç=ÑçëíÉêáåÖ=~=éçëáíáîÉ=ïçêâéä~ÅÉ=íÜ~í=ÄìáäÇëíÉ~ãïçêâ=~åÇ=ãìíì~ä=êÉëéÉÅí=~åÇ=ÉåÅçìê~ÖÉë=áåÇáîáÇì~ä=ÇÉîÉäçéãÉåíK

√ cçÅìë=çå=oÉëìäíë=Ó=tÉ=~êÉ=ÅçããáííÉÇ=íç=ÖÉííáåÖ=íÜÉ=àçÄ=ÇçåÉ=~åÇ=áãéêçîáåÖ=çìê=éêçÇìÅíáîáíóäÉîÉäëK

q~ÄäÉ=çÑ=`çåíÉåíë

jÉëë~ÖÉ=cêçã=íÜÉ=jáåáëíÉê= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =N

jÉëë~ÖÉ=cêçã=íÜÉ=`Ü~áêã~å= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =O

jÉëë~ÖÉ=cêçã=íÜÉ=`bl= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =P

j~å~ÖÉãÉåíÛë=oÉéçêí= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =Q

`çêéçê~íÉ=dçîÉêå~åÅÉ= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =R

j~åÇ~íÉ=çÑ=`çããáëëáçå=_ç~êÇ= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =S

^ééçáåíãÉåí=çÑ=jÉãÄÉêë=çÑ=íÜÉ=`çããáëëáçå= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =S

oÉëéçåëáÄáäáíáÉë=çÑ=`çããáëëáçå=jÉãÄÉêë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =S

^ìÇáí=`çããáííÉÉ= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =T

^ÅÅçìåí~Äáäáíó=íç=dçîÉêåãÉåí=~åÇ=mìÄäáÅ= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =T

lêÖ~åáò~íáçå~ä=`Ü~êí= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =U

bñÉÅìíáîÉ=pìãã~êó= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =V

pçãã~áêÉ= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =NM

léÉê~íáçå~ä=oÉîáÉï= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =NN

pÜ~êÉÇ=`çããáíãÉåíë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =NN

OMMRJOMMS=vÉ~ê=áå=oÉîáÉï= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =NO

lééçêíìåáíáÉë=~åÇ=`Ü~ääÉåÖÉë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =OM

oÉí~áä=lìíäÉíë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =ON

pí~íáëíáÅëë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =OO

oÉí~áä=p~äÉë=Äó=píçêÉë= K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K K =OO

pìãã~êó=çÑ=mêçÑáí=~åÇ=bñéÉåëÉ=o~íáçë=Ó=cáîÉJvÉ~ê=`çãé~êáëçå= K K K K K K K K K K K K K K K K K K =OP

qçí~ä=iáÅÉåÅÉë=~åÇ=péÉÅá~ä=mÉêãáíë=Ó=j~êÅÜ=PNI=OMMR=~åÇ=j~êÅÜ=PNI=OMMS= K K K K K K K K K =OQ

^ééÉåÇáñ

^ìÇáíçêÛë=oÉéçêí=~åÇ=^ìÇáíÉÇ=cáå~åÅá~ä=pí~íÉãÉåíë

m~ÖÉ=N

jÉëë~ÖÉ=cêçã=íÜÉ=jáåáëíÉê

qÜÉ=eçåçìê~ÄäÉ=_~êÄ~ê~=e~ÖÉêã~åiáÉìíÉå~åí=dçîÉêåçê=çÑ=mêáåÅÉ=bÇï~êÇ=fëä~åÇml=_çñ=OMMM`Ü~êäçííÉíçïåI=mb===`N^=TkU

j~ó=fí=mäÉ~ëÉ=vçìê=eçåçìêW

mìêëì~åí=íç=íÜÉ=mbf=iáèìçê=`çåíêçä=^Åí=~åÇ=~ë=jáåáëíÉê=ÇÉëáÖå~íÉI=áí=áë=ãó=éêáîáäÉÖÉ=íç=ëìÄãáí=íÜÉ=RUíÜ=^ååì~ä=oÉéçêí=çÑ=íÜÉ=mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä=`çããáëëáçåK

oÉëéÉÅíÑìääó=ëìÄãáííÉÇI

jáÅÜ~Éä=cK=`ìêêáÉjáåáëíÉê=çÑ=aÉîÉäçéãÉåí=~åÇ=qÉÅÜåçäçÖójáåáëíÉê=oÉëéçåëáÄäÉ=Ñçê=íÜÉ=iáèìçê=`çåíêçä=`çããáëëáçå

m~ÖÉ=O

jÉëë~ÖÉ=cêçã=íÜÉ=`Ü~áêã~å

qÜÉ=eçåçìê~ÄäÉ=jáÅÜ~Éä=cK=`ìêêáÉjáåáëíÉê=çÑ=aÉîÉäçéãÉåí=~åÇ=qÉÅÜåçäçÖójáåáëíÉê=oÉëéçåëáÄäÉ=Ñçê=íÜÉ=iáèìçê=`çåíêçä=`çããáëëáçåml=_çñ=OMMM`Ü~êäçííÉíçïåI=mb===`N^=TkU

páêW

få=Åçãéäá~åÅÉ=ïáíÜ=pÉÅíáçå=UTEPF=çÑ=íÜÉ=mbf=iáèìçê=`çåíêçä=^ÅíI=f=Ü~îÉ=íÜÉ=Üçåçìê=íçëìÄãáí=íÜÉ=RUíÜ=^ååì~ä=oÉéçêí=çÑ=íÜÉ=mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä=`çããáëëáçåÅçîÉêáåÖ=íÜÉ=ÑáëÅ~ä=óÉ~ê=^éêáä=NI=OMMRI=íç=j~êÅÜ=PNI=OMMSK

oÉëéÉÅíÑìääó=ëìÄãáííÉÇI

dçêÇçå=`çäÉë`Ü~áêã~å

m~ÖÉ=P

jÉëë~ÖÉ=cêçã=íÜÉ=`bl

jêK=dçêÇçå=`çäÉëI=`Ü~áêã~åmbf=iáèìçê=`çåíêçä=`çããáëëáçåml=_çñ=VST`Ü~êäçííÉíçïåI=mb===`N^=TjQ

aÉ~ê=jêK=`çäÉëW

f=~ã=éäÉ~ëÉÇ=íç=êÉéçêí=íÜ~í=ÑáëÅ~ä=OMMRJOMMS=ï~ë=“çìê=åáåíÜ=ëíê~áÖÜí=êÉÅçêÇóÉ~êÒ=Ñçê=íÜÉ=mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä=`çããáëëáçå=ëáåÅÉ=áíëÉñáëíÉåÅÉK=tÉ=êÉÅçêÇÉÇ=íÜÉ=ÜáÖÜÉëí=Öêçëë=ë~äÉë=áå=çìê=Üáëíçêó=Ó=ãçêÉ=íÜ~åATQ=ãáääáçå=ïÜáÅÜ=áë=QKO=éÉê=ÅÉåí=ÜáÖÜÉê=íÜ~å=íÜÉ=éêÉîáçìë=óÉ~êK=qÜ~í=ïÉÅçåíáåìÉ=ïáíÜ=êÉÅçêÇ=ÖêçïíÜ=áë=~=íêáÄìíÉ=íç=íÜÉ=ëíê~íÉÖáÅ=ÇáêÉÅíáçå=ëÉí=Äó=çìê=Äç~êÇ=~åÇ=íÜÉÇÉÇáÅ~íáçå=~åÇ=Ü~êÇ=ïçêâ=çÑ=~ää=çìê=ÉãéäçóÉÉëK=qÜ~åâë=íç=íÜÉáê=ÉÑÑçêíëI=~áÇÉÇ=Äó=ÉÑÑÉÅíáîÉ=êÉí~áäáåÖ~åÇ=ãÉêÅÜ~åÇáëáåÖI=ëíçêÉ=ìéÖê~ÇÉë=~åÇ=áåÅêÉ~ëÉÇ=ÅìëíçãÉê=íê~ÑÑáÅ=~åÇ=ëÉêîáÅÉI=ã~ÇÉ=Ñçê=~=êÉÅçêÇÇáîáÇÉåÇ=íê~åëÑÉê=Ó=APMIPNQIRPV=íç=íÜÉ=mêçîáåÅá~ä=qêÉ~ëìêó=Ó=ANKV=ãáääáçå=çîÉê=éêÉîáçìë=óÉ~êK

tÜáäÉ=çìê=Ñáå~åÅá~ä=~ÅÅçãéäáëÜãÉåí=ï~ë=çìê=“ÄÉëí=ÉîÉêIÒ=ïÉ=ïÉêÉ=~äëç=ëìÅÅÉëëÑìä=áå=ãÉÉíáåÖ=íÜÉëíê~íÉÖáÅ=Öç~äë=Éëí~ÄäáëÜÉÇ=Ñçê=íÜÉ=çíÜÉê=Ñçìê=éáää~êë=çÑ=çìê=ëíê~íÉÖáÅ=éä~åK=qÜÉëÉ=ïáää=ÄÉ=Éñéä~áåÉÇ=áåãçêÉ=ÇÉí~áä=ÑìêíÜÉê=áå=íÜáë=êÉéçêíK

f=ïçìäÇ=~äëç=äáâÉ=íç=íÜ~åâ=çìê=ÅìëíçãÉêëI=ëìééäáÉêëI=ÉãéäçóÉÉë=~åÇ=íÜÉ=Äç~êÇ=çÑ=ÅçããáëëáçåÉêëÑçê=íÜÉáê=ëìééçêí=íÜêçìÖÜçìí=íÜÉ=óÉ~êK

vçìêë=íêìäóI

t~óåÉ=^K=j~ÅaçìÖ~ää`ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê

m~ÖÉ=Q

j~å~ÖÉãÉåíÛë=oÉéçêí

dçêÇçå=`çäÉëI=`Ü~áêã~åmbf=iáèìçê=`çåíêçä=`çããáëëáçåml=_çñ=VST`Ü~êäçííÉíçïåI=mb===`N^=TjQ

aÉ~ê=jêK=`çäÉëW

qÜÉ=éêÉé~ê~íáçå=çÑ=Ñáå~åÅá~ä=áåÑçêã~íáçå=áë=~å=áåíÉÖê~ä=é~êí=çÑ=ã~å~ÖÉãÉåíÛë=êÉëéçåëáÄáäáíáÉëI=~åÇíÜÉ=~ÅÅçãé~åóáåÖ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=~êÉ=íÜÉ=êÉëéçåëáÄáäáíó=çÑ=íÜÉ=ã~å~ÖÉãÉåí=çÑ=íÜÉÅçããáëëáçåK=qÜáë=êÉëéçåëáÄáäáíó=áåÅäìÇÉë=íÜÉ=ëÉäÉÅíáçå=çÑ=~ééêçéêá~íÉ=~ÅÅçìåíáåÖ=éçäáÅáÉë=~åÇã~âáåÖ=àìÇÖÉãÉåíë=~åÇ=Éëíáã~íÉë=ÅçåëáëíÉåí=ïáíÜ=ÖÉåÉê~ääó=~ÅÅÉéíÉÇ=~ÅÅçìåíáåÖ=éêáåÅáéäÉëK

qÜÉ=Åçããáëëáçå=ã~áåí~áåë=~å=~ÅÅçìåíáåÖ=ëóëíÉã=~åÇ=êÉä~íÉÇ=Åçåíêçäë=íç=éêçîáÇÉ=ã~å~ÖÉãÉåí~åÇ=íÜÉ=Åçããáëëáçå=ïáíÜ=êÉ~ëçå~ÄäÉ=~ëëìê~åÅÉ=íÜ~í=íê~åë~Åíáçåë=~êÉ=ÉñÉÅìíÉÇ=~åÇ=êÉÅçêÇÉÇ=~ë~ìíÜçêáòÉÇI=íÜ~í=~ëëÉíë=~êÉ=éêçéÉêäó=ë~ÑÉÖì~êÇÉÇ=~åÇ=~ÅÅçìåíÉÇ=ÑçêI=~åÇ=íÜ~í=Ñáå~åÅá~ä=êÉÅçêÇë=~êÉêÉäá~ÄäÉ=Ñçê=íÜÉ=éêÉé~ê~íáçå=çÑ=Ñáå~åÅá~ä=ëí~íÉãÉåíë=áå=~ÅÅçêÇ~åÅÉ=ïáíÜ=ÖÉåÉê~ääó=~ÅÅÉéíÉÇ~ÅÅçìåíáåÖ=éêáåÅáéäÉëK

cáå~åÅá~ä=áåÑçêã~íáçå=éêÉëÉåíÉÇ=ÉäëÉïÜÉêÉ=áå=íÜáë=~ååì~ä=êÉéçêí=áë=ÅçåëáëíÉåí=ïáíÜ=íÜ~í=áå=íÜÉÑáå~åÅá~ä=ëí~íÉãÉåíëK

t~óåÉ=^K=j~ÅaçìÖ~ää= tÉåÇó=iK=j~Åaçå~äÇI=`^`ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê= aáêÉÅíçê=çÑ=cáå~åÅÉ=~åÇ=oÉí~áä=léÉê~íáçåë

m~ÖÉ=R

`çêéçê~íÉ=dçîÉêå~åÅÉ

`çêéçê~íÉ=ÖçîÉêå~åÅÉ=ÇÉëÅêáÄÉë=íÜÉ=éêçÅÉëë=~åÇ=ëíêìÅíìêÉ=Ñçê=çîÉêëÉÉáåÖ=íÜÉ=ÇáêÉÅíáçå=~åÇ=ã~å~ÖÉãÉåíçÑ=~=Åêçïå=Åçêéçê~íáçå=ëç=íÜ~í=áí=ÉÑÑÉÅíáîÉäó=ÑìäÑáääë=áíë=ã~åÇ~íÉK=qÜáë=áåîçäîÉë=ÄçíÜ=áíë=éìÄäáÅ=éçäáÅó=~åÇÅçããÉêÅá~ä=çÄàÉÅíáîÉëK=fí=ÇÉÑáåÉë=ïÜç=áë=êÉëéçåëáÄäÉ=Ñçê=ïÜ~íI=~åÇ=Üçï=íç=ÉåëìêÉ=~ÅÅçãéäáëÜãÉåí=~åÇ~ÅÅçìåí~ÄáäáíóK

iáèìçê=`çåíêçä=`çããáëëáçå=_ç~êÇ_~Åâ=êçï=Ñêçã=äÉÑíW=jìêê~ó=jìêéÜóI=pçäáÅáíçêX=g~ãÉë=aóãÉåíI=jÉãÄÉêX=m~ã=`~ãéÄÉääI=pÉÅêÉí~êóX=

GgçÉ=oáÅÜ~êÇI=jÉãÄÉêX=o~äéÜ=_áää~êÇI=jÉãÄÉêX=t~óåÉ=j~ÅaçìÖ~ääI=`bl

cêçåí=Ñêçã=äÉÑíW=GdçêÇçå=`çäÉëI=`Ü~áêX=GdÉçêÖÉ=j~åëÑáÉäÇI=sáÅÉJ`Ü~áêX

GpÉêîÉë=çå=íÜÉ=^ìÇáí=`çããáííÉÉ

m~ÖÉ=S

j~åÇ~íÉ=çÑ=`çããáëëáçå=_ç~êÇ

qÜÉ=ã~åÇ~íÉ=çÑ=íÜÉ=Äç~êÇ=áë=íç=ëìéÉêîáëÉ=íÜÉÄìëáåÉëë=~ÑÑ~áêë=çÑ=íÜÉ=ÅçããáëëáçåK=fíë=ãçëíáãéçêí~åí=êÉëéçåëáÄáäáíáÉë=~êÉW

√ ÉåëìêáåÖ=íÜ~í=íÜÉ=mbfi``=éêçîáÇÉë=ÜáÖÜJèì~äáíó=ëÉêîáÅÉ=íç=íÜÉ=éìÄäáÅ

√ ÇÉîÉäçéáåÖ=~åÇ=~ééêçîáåÖ=íÜÉ=ëíê~íÉÖáÅ=éä~å~åÇ=ãçåáíçêáåÖ=ã~å~ÖÉãÉåíÛë=ëìÅÅÉëë=áåãÉÉíáåÖ=íÜÉ=ëíê~íÉÖáÅ=éä~å

√ ~ééêçîáåÖ=~ååì~ä=Ñáå~åÅá~ä=éä~åë

√ ~ëëÉëëáåÖ=~åÇ=ã~å~ÖáåÖ=ÄìëáåÉëë=êáëâë

√ ÉåëìêáåÖ=íÜ~í=íÜÉ=mbfi``=éÉêÑçêãë=áíëêÉÖìä~íçêó=êçäÉ=áå=~=Ñ~áê=~åÇ=áãé~êíá~äã~ååÉê

^ééçáåíãÉåí=çÑ=jÉãÄÉêë=çÑíÜÉ=`çããáëëáçå

qÜÉ=iáÉìíÉå~åí=dçîÉêåçê=áå=`çìåÅáäI=íÜêçìÖÜ~å=çêÇÉêJáåJÅçìåÅáäI=~ééçáåíë=íÜÉ=ãÉãÄÉêë=çÑíÜÉ=ÅçããáëëáçåI=Éëí~ÄäáëÜÉë=íÜÉ=ë~ä~êáÉë=~åÇÇÉëáÖå~íÉë=íÜÉ=ÅÜ~áê=~åÇ=îáÅÉJÅÜ~áêK

oÉëéçåëáÄáäáíáÉë=çÑ=`çããáëëáçåjÉãÄÉêë

b~ÅÜ=Åçããáëëáçå=ãÉãÄÉê=Ü~ë=áåÇáîáÇì~äêÉëéçåëáÄáäáíáÉë=Ñçê=Åçêéçê~íÉ=ÖçîÉêå~åÅÉIáåÅäìÇáåÖW

√ ~ÅíáåÖ=ÜçåÉëíäó=~åÇ=áå=ÖççÇ=Ñ~áíÜ=áå=ã~âáåÖÇÉÅáëáçåë=ïáíÜ=~=îáÉï=íç=íÜÉ=ÄÉëí=áåíÉêÉëíë=çÑíÜÉ=mbfi``=~åÇ=~ää=áíë=ëí~âÉÜçäÇÉêë

√ çîÉêëÉÉáåÖ=íÜÉ=ã~å~ÖÉãÉåí=çÑ=íÜÉ=ÄìëáåÉëë~ÑÑ~áêë=çÑ=íÜÉ=mbfi``

√ ~îçáÇáåÖ=ÅçåÑäáÅíë=çÑ=áåíÉêÉëí

√ Ü~îáåÖ=~ÇÉèì~íÉ=âåçïäÉÇÖÉ=çÑ=íÜÉ=mbfi``ÛëÄìëáåÉëëI=Üçï=áí=áë=çêÖ~åáòÉÇ=~åÇ=Üçï=áíÑìåÅíáçåë

√ ~ííÉåÇáåÖ=Åçããáëëáçå=ãÉÉíáåÖë=~åÇ=ëÉÉâáåÖéêçÑÉëëáçå~ä=~ÇîáÅÉ=ïÜÉêÉ=åÉÅÉëë~êó

√ éêçîáÇáåÖ=ÖìáÇ~åÅÉ=çå=éçäáÅó=ÇÉîÉäçéãÉåí

√ êÉîáÉïáåÖ=~ééÉ~äë=çÑ=ÇÉåá~äë=çÑ=äáëíáåÖ~ééäáÅ~íáçåë

m~ÖÉ=T

^ìÇáí=`çããáííÉÉ

qÜÉ=^ìÇáí=`çããáííÉÉ=áë=ÅçãéçëÉÇ=çÑ=íÜêÉÉ=ÅçããáëëáçåãÉãÄÉêë=ÉäÉÅíÉÇ=~ååì~ääó=Äó=íÜÉ=ÅçããáëëáçåK=qÜÉÅçããáííÉÉ=ÉåëìêÉë=íÜÉ=êÉäá~Äáäáíó=~åÇ=~ÅÅìê~Åó=çÑ=íÜÉmbfi``Ûë=Ñáå~åÅá~ä=ëí~íÉãÉåíëI=ÜÉäéë=ÅçJçêÇáå~íÉ=~åÇáãéêçîÉ=áåíÉêå~ä=Åçåíêçä=ÑìåÅíáçåëI=~åÇ=ÉåëìêÉë=íÜÉmbfi``=~ÇÜÉêÉë=íç=ëçìåÇ=Åçêéçê~íÉ=ÖçîÉêå~åÅÉéêáåÅáéäÉëK

qÜÉ=ÅçããáííÉÉW

√ ãçåáíçêë=íÜÉ=ÅçããáëëáçåÛë=~ÅíáîáíáÉë=~åÇ=çéÉê~íáçåë

√ êÉîáÉïë=íÜÉ=mbfi``=éçäáÅó=~åÇ=éêçÅÉÇìêÉë=ã~åì~ä=íçÉåëìêÉ=áí=ÇÉëÅêáÄÉë=~ÅÅìê~íÉäó=íÜÉ=éêçÅÉÇìêÉë=~åÇ~ÅíáîáíáÉë=~åÇ=ëÉíë=çìí=~ééêçéêá~íÉ=Åçåíêçä=~åÇã~å~ÖÉãÉåí=éêçÅÉëëÉë

√ ãÉÉíë=ïáíÜ=íÜÉ=~ìÇáíçê=íç=êÉîáÉï=íÜÉ=ÅçããáëëáçåÛë~ìÇáí

√ áÇÉåíáÑáÉë=íÜÉ=éêáåÅáé~ä=êáëâë=Ñ~ÅáåÖ=íÜÉ=ÄìëáåÉëë=~åÇêÉîáÉïë=ëóëíÉãë=íç=ã~å~ÖÉ=íÜÉëÉ=êáëâë

√ çîÉêëÉÉë=íÜÉ=éêçÇìÅíáçå=çÑ=íÜÉ=^ååì~ä=oÉéçêíK

^ÅÅçìåí~ÄäÉ=íçdçîÉêåãÉåí=~åÇ=mìÄäáÅ

qÜÉ=mbfi``=áë=ÜÉäÇ=~ÅÅçìåí~ÄäÉ=Äó=íÜÉdçîÉêåãÉåí=~åÇ=éÉçéäÉ=çÑ=mbf=áå=~åìãÄÉê=çÑ=ï~óëI=áåÅäìÇáåÖW

√ íÜÉ=^ååì~ä=oÉéçêíI=í~ÄäÉÇ=áå=íÜÉmêçîáåÅá~ä=iÉÖáëä~íìêÉ=~åÇ=~î~áä~ÄäÉÑçê=~ää=fëä~åÇÉêë=íç=êÉîáÉïI=ÉáíÜÉê=áåéêáåí=çê=çåäáåÉ=~í=ïïïKéÉáäÅÅKÅ~=

√ ~ååì~ä=~ìÇáíë=çÑ=íÜÉ=mbfi``ÛëÑáå~åÅá~ä=ëí~íÉãÉåíë=Äó=íÜÉ=~ìÇáíçê

√ éìÄäáÅ=~ÅÅÉëë=íç=êÉÅçêÇë=ìåÇÉê=íÜÉcêÉÉÇçã=çÑ=fåÑçêã~íáçå=~åÇ=mêçíÉÅíáçåçÑ=mêáî~Åó=^Åí

√ éìÄäáÅäó=~ééçáåíÉÇ=ÅçããáëëáçåãÉãÄÉêëK

j~å~ÖÉãÉåí=qÉ~ã=çÑ=íÜÉ=mbf=iáèìçê=`çåíêçä=`çããáëëáçåcêçã=äÉÑíW=g~ãÉë=`K=j~ÅiÉçÇI=aáêÉÅíçê=çÑ=iáÅÉåëáåÖ=~åÇ=pÉÅìêáíóX

f~å=hK=_ìêÖÉI=aáêÉÅíçê=çÑ=mìêÅÜ~ëáåÖ=~åÇ=aáëíêáÄìíáçåX=ióåå=aìÑÑóI=eìã~å=oÉëçìêÅÉë=j~å~ÖÉêXtÉåÇó=iK=j~Åaçå~äÇI=`^I=aáêÉÅíçê=çÑ=cáå~åÅÉ=~åÇ=oÉí~áä=léÉê~íáçåëX

cêÉÇ=gK=j~Åaçå~äÇI=aáêÉÅíçê=çÑ=p~äÉë=~åÇ=j~êâÉíáåÖX=~åÇ=t~óåÉ=^K=j~ÅaçìÖ~ääI=`bl

m~ÖÉ=U

lêÖ~åáò~íáçå~ä=`Ü~êí

jáÅÜ~Éä=cK=`ìêêáÉjáåáëíÉê=oÉëéçåëáÄäÉ

dçêÇçå=`çäÉë`Ü~áê

dÉçêÖÉ=j~åëÑáÉäÇsáÅÉJ`Ü~áê

g~ãÉë=aóãÉåíjÉãÄÉê

gçÉ=oáÅÜ~êÇjÉãÄÉê

o~äéÜ=_áää~êÇjÉãÄÉê

t~óåÉ=^K=j~ÅaçìÖ~ää`ÜáÉÑ=bñÉÅìíáîÉ=lÑÑáÅÉê

ióåå=aìÑÑóeìã~å=oÉëçìêÅÉë=j~å~ÖÉê

m~ãÉä~=gKpK=`~ãéÄÉää^Çãáåáëíê~íáîÉ=^ëëáëí~åí

g~ãÉë=`K=j~ÅiÉçÇaáêÉÅíçê

iáÅÉåëáåÖ=~åÇ=pÉÅìêáíó

cêÉÇ=j~Åaçå~äÇaáêÉÅíçê

p~äÉë=~åÇ=j~êâÉíáåÖ

tÉåÇó=iK=j~Åaçå~äÇ=aáêÉÅíçê

cáå~åÅÉ=~åÇ=oÉí~áä=léÉê~íáçåë

f~å=_ìêÖÉaáêÉÅíçê

mìêÅÜ~ëáåÖ=~åÇ=aáëíêáÄìíáçå

NV=oÉí~áä=iáèìçê=lìíäÉíë~åÇ=låÉ=^ÖÉåÅó=píçêÉ

^äÄÉêíçå_çêÇÉåJ`~êäÉíçå`~êÇáÖ~å`Ü~êäçííÉíçïå=j~ää`çêåï~äädê~åîáääÉ=píêÉÉíhÉåëáåÖíçå

jçåí~ÖìÉkçêíÜ=oìëíáÅçl~â=qêÉÉlÛiÉ~êónìÉÉå=píêÉÉípçìêáëpíê~íÑçêÇ

pìããÉêëáÇÉqáÖåáëÜqóåÉ=s~ääÉótÉääáåÖíçåtççÇ=fëä~åÇë

jçêÉää=^ÖÉåÅó=píçêÉ

m~ÖÉ=V

bñÉÅìíáîÉ=pìãã~êó

qÜÉ=mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä`çããáëëáçå=Embfi``F=áë=~=Åêçïå=Åçêéçê~íáçåêÉëéçåëáÄäÉ=Ñçê=íÜÉ=~Çãáåáëíê~íáçå=çÑ=íÜÉ=iáèìçê`çåíêçä=^Åí=~åÇ=oÉÖìä~íáçåëI=~äçåÖ=ïáíÜ=íÜÉéìêÅÜ~ëÉI=Åçåíêçä=~åÇ=ë~äÉ=çÑ=~ää=ÄÉîÉê~ÖÉÇ~äÅçÜçä=áå=íÜÉ=éêçîáåÅÉK

^=ÑáîÉJãÉãÄÉê=Äç~êÇ=çÑ=ÅçããáëëáçåÉêë=áëêÉëéçåëáÄäÉ=Ñçê=íÜÉ=ÅçããáëëáçåÛë=~ÅíáîáíáÉëK==qÜÉÅÜ~áêéÉêëçå=êÉéçêíë=íç=íÜÉ=jáåáëíÉê=çÑaÉîÉäçéãÉåí=~åÇ=qÉÅÜåçäçÖó=ïÜç=áë=~äëç=íÜÉjáåáëíÉê=oÉëéçåëáÄäÉ=Ñçê=íÜÉ=iáèìçê=`çåíêçä=^ÅíK=

qÜÉ=ã~åÇ~íÉ=ìåÇÉê=íÜÉ=iáèìçê=`çåíêçä=^Åí=Ü~ëíïç=éêáã~êó=ÅçãéçåÉåíëW==êÉÖìä~íçêó=~åÇÅçããÉêÅá~äK

qÜÉ=êÉÖìä~íçêó=ÑìåÅíáçå=áë=Å~êêáÉÇ=çìí=Äó=íÜÉÅçããáëëáçåÛë=iáÅÉåëáåÖ=~åÇ=pÉÅìêáíóaÉé~êíãÉåí=ïÜáÅÜ=áë=êÉëéçåëáÄäÉ=Ñçê=äáÅÉåëáåÖ~åÇ=áåëéÉÅíáåÖ=~ää=äáÅÉåëÉÇ=éêÉãáëÉë=~åÇ=ëéÉÅá~äéÉêãáí=ÑìåÅíáçåëK

fí=~äëç=áåîÉëíáÖ~íÉë=~åÇ=êÉéçêíë=çå=~ää=äáÅÉåëÉÉÅçãéä~áåíë=~åÇ=ÇÉíÉêãáåÉë=ïÜÉíÜÉê=íÜÉêÉ=ïÉêÉáåÑê~Åíáçåë=çÑ=íÜÉ=iáèìçê=`çåíêçä=^ÅíK

lå=íÜÉ=ÅçããÉêÅá~ä=ëáÇÉI=íÜÉ=Åçããáëëáçå=áë=~ã~àçê=ÑçêÅÉ=áå=íÜÉ=éêçîáåÅá~ä=ÉÅçåçãó=ïáíÜë~äÉë=áå=ÉñÅÉëë=çÑ=ATQ=ãáääáçå=ã~âáåÖ=áí=çåÉ=çÑíÜÉ=ä~êÖÉëí=êÉí~áä=çêÖ~åáò~íáçåë=áå=mêáåÅÉ=bÇï~êÇfëä~åÇK

få=íÉêãë=çÑ=ãçåÉí~êó=íê~åëÑÉêë=íç=íÜÉ=mêçîáåÅá~äqêÉ~ëìêóI=íÜáë=óÉ~êÛë=ï~ë=íÜÉ=ÖêÉ~íÉëí=íê~åëÑÉê=ÉîÉê

ïáíÜ=ãçêÉ=íÜ~å=APMKP=ãáääáçå=Ñçêï~êÇÉÇ=íç=íÜÉéêçîáåÅÉK

qÜÉ=Åçããáëëáçå=éêÉëÉåíäó=çéÉê~íÉë=NV=êÉí~áäçìíäÉíë=ïÜáÅÜ=~êÉ=~ää=åçï=ëÉäÑJëÉêîÉ=áå=ÇÉëáÖåK==få~ÇÇáíáçåI=íÜÉ=Åçããáëëáçå=çéÉê~íÉë=~=ÅÉåíê~äï~êÉÜçìëÉ=~åÇ=iáÅÉåëÉÉ=aáëíêáÄìíáçå=`ÉåíêÉäçÅ~íÉÇ=áå=`Ü~êäçííÉíçïåK==qÜÉ=Åçããáëëáçå=Ü~ëÅçåíê~ÅíÉÇ=ïáíÜ=éêáî~íÉ=áåíÉêÉëíë=Ñçê=íÜÉçéÉê~íáçå=çÑ=~å=^ÖÉåÅó=píçêÉ=áå=jçêÉääI=mbfK

qÜÉ=Åçããáëëáçå=Ü~ë=~=ëíê~íÉÖáÅ=éä~å=ïÜáÅÜÖìáÇÉë=íÜÉ=Åçããáëëáçå=áå==ëìÅÅÉëëÑìääó=ãÉÉíáåÖáíë=éÉêÑçêã~åÅÉ=~åÇ=~ÅÅçìåí~Äáäáíó=Öç~äëK

få=çìê=ëíê~íÉÖáÅ=éä~åI=íÜÉ=Åçããáëëáçå=Ü~ëÑçÅìëÉÇ=çå=ÑáîÉ=âÉó=~êÉ~ë=Ñçê=ãÉ~ëìêáåÖ=çìêéÉêÑçêã~åÅÉW

NK==cáå~åÅá~ä=mÉêÑçêã~åÅÉI

OK==`ìëíçãÉê=pÉêîáÅÉI

PK==_ìëáåÉëë=bÑÑÉÅíáîÉåÉëëI

QK==tçêâéä~ÅÉ=nì~äáíóI=~åÇ

RK==pçÅá~ä=oÉëéçåëáÄáäáíóK

qÜÉëÉ=~êÉ~ë=ëÉêîÉ=~ë=~=ÄäìÉéêáåí=ÑçêáåÅçêéçê~íáåÖ=çìê=jáëëáçå=pí~íÉãÉåí=áåíç=Ç~óJíçJÇ~ó=~ÅíáîáíáÉëK==tÜáäÉ=çìê=Ñáå~åÅá~ä=ëìÅÅÉëëï~ë=çìê=“ÄÉëí=ÉîÉêÒI=ïÉ=ïÉêÉ=~äëç=ëìÅÅÉëëÑìä=áåãÉÉíáåÖ=íÜÉ=ëíê~íÉÖáÅ=Öç~äë=Éëí~ÄäáëÜÉÇ=Ñçê=íÜÉçíÜÉê=Ñçìê=éáää~êë=çÑ=çìê=ëíê~íÉÖáÅ=éä~åK==qÜÉëÉïáää=ÄÉ=Éñéä~áåÉÇ=áå=ãçêÉ=ÇÉí~áä=ÑìêíÜÉê=áå=íÜáëêÉéçêíK

m~ÖÉ=NM

pçãã~áêÉ

i~=o¨ÖáÉ=ÇÉë=~äÅççäë=ÇÉ=äDÝäÉJÇìJmêáåÅÉJ°Ççì~êÇEoK^KÝKJmKJ°KF=Éëí=ìåÉ=ëçÅá¨í¨=ÇÉ=ä~=`çìêçååÉêÉëéçåë~ÄäÉ=ÇÉ=äD~Çãáåáëíê~íáçå=ÇÉ=ä~=iáèìçê`çåíêçä=^Åí=Eiçá=ëìê=äÉë=~äÅççäëF=Éí=ÇÉ=ëÉëê≠ÖäÉãÉåíë=~áåëá=èìÉ=ÇÉ=äD~ÅÜ~íI=Çì=Åçåíê∑äÉ=ÉíÇÉ=ä~=îÉåíÉ=ÇÉ=íçìíÉë=äÉë=Äçáëëçåë=~äÅççäáë¨ÉëÇ~åë=ä~=éêçîáåÅÉK

rå=ÅçåëÉáä=Ñçêã¨=ÇÉ=Åáåè=Åçããáëë~áêÉë=ÉëíêÉëéçåë~ÄäÉ=ÇÉë=~Åíáîáí¨ë=ÇÉ=ä~=o¨ÖáÉK=iÉéê¨ëáÇÉåí=ëÉ=ê~ééçêíÉ=~ì=ãáåáëíêÉ=Çìa¨îÉäçééÉãÉåí=Éí=ÇÉ=ä~=qÉÅÜåçäçÖáÉ=èìá=Éëí¨Ö~äÉãÉåí=ãáåáëíêÉ=êÉëéçåë~ÄäÉ=ÇÉ=ä~=içá=ëìê=äÉë~äÅççäëK

bå=îÉêíì=ÇÉ=ä~=içá=ëìê=äÉë=~äÅççäëI=äÉ=ã~åÇ~í=ÇÉä~=o¨ÖáÉ=ÅçãéêÉåÇ=ÇÉìñ=îçäÉíë=W=äDìå=Éëíê¨ÖäÉãÉåí~áêÉI=äD~ìíêÉ=ÅçããÉêÅá~äK

i~=ÑçåÅíáçå=ê¨ÖäÉãÉåí~áêÉ=Éëí=~ëëìã¨É=é~ê=äÉpÉêîáÅÉ=ÇÉ=Ç¨äáîê~åÅÉ=ÇÉë=éÉêãáë=èìá=ÉëíêÉëéçåë~ÄäÉ=ÇÉ=äDçÅíêçá=ÇÉë=éÉêãáë=Éí=ÇÉäDáåëéÉÅíáçå=ÇÉ=íçìë=äÉë=Ç¨Äáíë=ÇÉ=Äçáëëçå=~áåëáèìÉ==ÇÉë=~Åíáîáí¨ë=Éåíçìê~åí=äÉë=éÉêãáë=ëé¨Åá~ìñK

iÉ=pÉêîáÅÉ=ÇÉ=Ç¨äáîê~åÅÉ=ÇÉë=éÉêãáë=ëÉ=ÅÜ~êÖÉ¨Ö~äÉãÉåí=ÇDÉåèìÆíÉê=Éí=ÇÉ=Ñ~áêÉ=ê~ééçêí=¶éêçéçë=ÇÉë=éä~áåíÉëI=Éí=áä=Ç¨ÅáÇÉ=ëDáä=ó=~=ÉìáåÑê~Åíáçå=çì=åçå=¶=ä~=içá=ëìê=äÉë=~äÅççäëK

aì=Å∑í¨=ÅçããÉêÅá~äI=ä~=o¨ÖáÉ=Éëí=ìåÉ=ÑçêÅÉ¨ÅçåçãáèìÉ=áãéçêí~åíÉ=ÇÉ=ä~=éêçîáåÅÉX=ëÉëîÉåíÉë=èìá=Ç¨é~ëëÉåí=äÉë=TQ=ãáääáçåë=ÇÉ=Ççää~êëÉå=Ñçåí=äDìå=ÇÉë=éäìë=Öê~åÇë=ÅçããÉêÅÉë=ÇÉÇ¨í~áä=ÇÉ=äDÝäÉJÇìJmêáåÅÉJ°Ççì~êÇK

i~=éê¨ëÉåíÉ=~åå¨ÉI=Éñéêáã¨É=Éå=íê~åëÑÉêíëãçå¨í~áêÉëI=êÉéê¨ëÉåíÉ=äÉ=éäìë=Ñçêí=~ééçêí=~ìqê¨ëçê=ÇÉ=ä~=éêçîáåÅÉI=ëçáí=PMIP=ãáääáçåë=ÇÉÇçää~êëK=

È=äDÜÉìêÉ=~ÅíìÉääÉI=ä~=o¨ÖáÉ=ÉñéäçáíÉ=ÇáñJåÉìÑENVF=éçáåíë=ÇÉ=îÉåíÉ=ÇÉ=ëÉêîáÅÉë=~ì=Ç¨í~áääáÄêÉJëÉêîáÅÉK=aÉ=éäìëI=ä~=o¨ÖáÉ=ÉñéäçáíÉ=ìåÉåíêÉé∑í=ÅÉåíê~ä=Éí=ìå=ÅÉåíêÉ=ÇÉ=ÇáëíêáÄìíáçåéçìê=äÉë=íáíìä~áêÉë=ÇÉ=éÉêãáëI=¶=`Ü~êäçííÉíçïåI=ÉíÉääÉ=~=ÅçåÅäì=ìå=Åçåíê~í=~îÉÅ=ÇÉë=áåí¨êÆíë=éêáî¨ë~Ñáå=ÇDÉñéäçáíÉê=ìå=ã~Ö~ëáå=ÇÉ=Ñê~åÅÜáëÉ=¶jçêÉääI=ÝKJmKJ°K

i~=o¨ÖáÉ=~=¨ä~Äçê¨=ìå=éä~å=ëíê~í¨ÖáèìÉ=èìá=äìáëÉêí=ÇÉ=ÖìáÇÉ=~Ñáå=ÇÉ=ê¨~äáëÉê=ëÉë=çÄàÉÅíáÑë=ÇÉêÉåÇÉãÉåí=Éí=ÇÉ=êÉëéçåë~Äáäáí¨K

pÉäçå=ëçå=éä~å=ëíê~í¨ÖáèìÉI=ä~=`çããáëëáçåãÉëìêÉ=ëçå=êÉåÇÉãÉåí=é~ê=ê~ééçêí=¶=ÅáåèÇçã~áåÉë=Åä¨ë=W

NK oÉåÇÉãÉåí=Ñáå~åÅáÉê

OK= pÉêîáÅÉ=¶=ä~=ÅäáÉåí≠äÉ

PK= bÑÑáÅ~Åáí¨=ÅçããÉêÅá~äÉ

QK= nì~äáí¨=Çì=äáÉì=ÇÉ=íê~î~áä

RK oÉëéçåë~Äáäáí¨=ëçÅá~äÉ

`Éë=Ççã~áåÉë=ëÉêîÉåí=ÇÉ=ÖìáÇÉ=éçìê=áåÅçêéçêÉêåçíêÉ=ãáëëáçå=~ìñ=~Åíáîáí¨ë=èìçíáÇáÉååÉëK=_áÉåèìÉ=åçíêÉ=ëìÅÅ≠ë=Ñáå~åÅáÉê=Éëí=äÉ=ãÉáääÉìê=à~ã~áëê¨~äáë¨I=åçìë=~îçåë=¨Ö~äÉãÉåí=ê¨ìëëá=¶=~ííÉáåÇêÉåçë=çÄàÉÅíáÑë=ëíê~í¨ÖáèìÉë=é~ê=ê~ééçêí=~ìñ=èì~íêÉ~ìíêÉë=Åçãéçë~åíÉë=ÇÉ=åçíêÉ=éä~åI=ÅÉ=èìá=ëÉê~Éñéäáèì¨=Éå=éäìë=Öê~åÇë=Ç¨í~áäë=éäìë=äçáå=Ç~åë=ÅÉê~ééçêíK

m~ÖÉ=NN

léÉê~íáçå~ä=oÉîáÉï

pÜ~êÉÇ=`çããáíãÉåíë^ë=~=Åêçïå=Åçêéçê~íáçåI=íÜÉ=mbf=iáèìçê=`çåíêçä`çããáëëáçå=Ü~ë=~=åìãÄÉê=çÑ=ëí~âÉÜçäÇÉêëáåÅäìÇáåÖ=íÜÉ=dçîÉêåãÉåí=~åÇ=éÉçéäÉ=çÑ=mêáåÅÉbÇï~êÇ=fëä~åÇI=çìê=ÅìëíçãÉêëI=ÉãéäçóÉÉëIëìééäáÉêë=~åÇ=áåÇìëíêó=é~êíåÉêëI=åçåJéêçÑáíÖêçìéë=~åÇ=~ää=íÜçëÉ=ïÜç=ëÜ~êÉ=çìê=ÅçåÅÉêå=ÑçêéìÄäáÅ=ë~ÑÉíóK=lìê=ÅìëíçãÉê=Ä~ëÉ=áåÅäìÇÉë=íÜÉéìÄäáÅ=ïÜç=~ÅÅÉëë=çìê=éêçÇìÅíë=íÜêçìÖÜ=çìêêÉí~áä=åÉíïçêâI=~ë=ïÉää=~ë=ïÜçäÉë~äÉ=ÅäáÉåíë=ëìÅÜ~ë=êÉëí~ìê~åíë=~åÇ=Ä~êëK

qç=êÉëéçåÇ=íç=íÜÉ=åÉÉÇë=~åÇ=ÅçåÅÉêåë=çÑ=çìêÅìëíçãÉêë=~åÇ=ëí~âÉÜçäÇÉêë=áå=ÑáëÅ~ä=OMMRJOMMSIïÉW

√ ÇÉäáîÉêÉÇ=èì~äáíó=éêçÇìÅíë=~åÇ=ëÉêîáÅÉëIêÉëéçåëáîÉ=íç=ÅìëíçãÉê=åÉÉÇë=~åÇ=áåÇìëíêóíêÉåÇëX

√ éêçãçíÉÇ=íÜÉ=ë~ÑÉ=~åÇ=êÉëéçåëáÄäÉ=ìëÉ=çÑÄÉîÉê~ÖÉ=~äÅçÜçä=íÜêçìÖÜ=ÅçãéêÉÜÉåëáîÉéìÄäáÅ=~ï~êÉåÉëë=éêçÖê~ãë=~åÇ=é~êíåÉêëÜáéëïáíÜ=ÅçããìåáíáÉë=~åÇ=åçåJéêçÑáí=ÖêçìéëX

√ çÑÑÉêÉÇ=ë~ÑÉ=~åÇ=éêçÑÉëëáçå~ä=ïçêâéä~ÅÉë=íççìê=ÉãéäçóÉÉëX

√ éêçîáÇÉÇ=íê~áåáåÖ=íç=ÉåëìêÉ=ÄçíÜ=ÉñÅÉääÉåíÅìëíçãÉê=ëÉêîáÅÉ=~åÇ=ÉåÑçêÅÉãÉåí=çÑéêçîáåÅá~ä=äáèìçê=ä~ïëX

√ é~êíåÉêÉÇ=ïáíÜ=çìê=ëìééäáÉêë=íç=ÄìáäÇÉÑÑÉÅíáîÉ=éêçãçíáçåë=~Åêçëë=~ää=éêçÇìÅíÅ~íÉÖçêáÉë=ïÜáÅÜ=áåÅäìÇÉ=ëéáêáíëI=ïáåÉIêÉÑêÉëÜãÉåí=ÄÉîÉê~ÖÉë=~åÇ=ÄÉÉêX

√ é~êíáÅáé~íÉÇ=áå=ÑìåÇê~áëáåÖ=Å~ãé~áÖåë=Ñçê=~ëáÖåáÑáÅ~åí=åìãÄÉê=çÑ=ÅÜ~êáí~ÄäÉçêÖ~åáò~íáçåë=áåÅäìÇáåÖ=íÜÉ=fthcçìåÇ~íáçåI=`~å~Çá~å=aá~ÄÉíÉë=^ëëçÅá~íáçåI`~å~Çá~å=`~åÅÉê=pçÅáÉíóI=råáíÉÇ=t~óIb~ëíÉê=pÉ~äëI=m~êâáåëçåÛë=pçÅáÉíóI=qÉêêó=cçñcçìåÇ~íáçåI=fëä~åÇ=eçëéáÅÉ=~åÇ=íÜÉ=^ippçÅáÉíó=çÑ=mbfK

m~ÖÉ=NO

OMMRJOMMS=vÉ~ê=áå=oÉîáÉïmbfi``Ûë=píê~íÉÖáÅ=mä~å=ÅçåíáåìÉÇ=íç=ÖìáÇÉ=íÜÉ=ÅçããáëëáçåÛë=~ÅíáîáíáÉë=íÜêçìÖÜ=ÑáëÅ~ä=OMMRJOMMSKmêçÖêÉëë=çå=ëíê~íÉÖáÅ=çÄàÉÅíáîÉë=áë=ëìééçêíÉÇ=Äó=~ååì~ä=ÄìëáåÉëë=éä~åë=íÜ~í=ëÉí=éêáçêáíáÉë=Ñçê=~Åíáçåë=íçãÉÉí=çÄàÉÅíáîÉë=~åÇ=íáãÉäáåÉë=Ñçê=íÜÉáê=ÅçãéäÉíáçåK=qÜÉ=ÑçääçïáåÖ=áë=~å=çîÉêîáÉï=çÑ=çìê=éÉêÑçêã~åÅÉíÜêçìÖÜçìí=íÜÉ=óÉ~ê=áå=É~ÅÜ=çÑ=çìê=ÑáîÉ=ëíê~íÉÖáÅ=çÄàÉÅíáîÉëK

G píê~íÉÖáÅ=lÄàÉÅíáîÉ= cáå~åÅá~ä=mÉêÑçêã~åÅÉ

dç~äqç=ã~ñáãáòÉ=åÉí=áåÅçãÉ=ïáíÜáå=íÜÉ=éçäáÅóÖìáÇÉäáåÉë=Éëí~ÄäáëÜÉÇ=Äó=íÜÉ=éêçîáåÅá~äÖçîÉêåãÉåíK

lÄàÉÅíáîÉëNK ^ÅÜáÉîÉ=çê=ÉñÅÉÉÇ=éä~ååÉÇ=ãçåÉí~êó

íê~åëÑÉê=íç=íÜÉ=mêçîáåÅá~ä=dçîÉêåãÉåíKOK ^ÅÜáÉîÉ=çê=ÉñÅÉÉÇ=åÉí=áåÅçãÉ=í~êÖÉíëK=PK fåÅêÉ~ëÉ=íê~ÑÑáÅ=íÜêçìÖÜ=äáèìçê=ëíçêÉëK

mÉêÑçêã~åÅÉ=eáÖÜäáÖÜíëqÜÉ=mbf=iáèìçê=`çåíêçä=`çããáëëáçå=ÇÉäáîÉêÉÇÄçíÜ=~å=áåÅêÉ~ëÉÇ=åÉí=éêçÑáí=~åÇ=~å=áåÅêÉ~ëÉÇíê~åëÑÉê=íç=íÜÉ=mêçîáåÅá~ä=dçîÉêåãÉåí=áå=ÑáëÅ~äOMMRJOMMSK=

cçê=íÜÉ=ÑáëÅ~ä=óÉ~ê=ÉåÇÉÇ=j~êÅÜ=PNI=OMMSI=Öêçëëë~äÉë=ïÉêÉ=ATQIMMUIUMQ=ïÜáÅÜ=áë=~å=áåÅêÉ~ëÉ=çÑAPIMQNIMMM=çîÉê=íÜÉ=éêÉîáçìë=óÉ~êK

kÉí=éêçÑáí=Ñçê=íÜÉ=óÉ~êI=éäìë=ÜÉ~äíÜ=~åÇ=ë~äÉëí~ñÉëI=íçí~äÉÇ=APMIPNQIRPVK=qÜáë=áë=~å=áåÅêÉ~ëÉçîÉê=íÜÉ=OMMQJOMMR=ÅçåíêáÄìíáçå=íç=íÜÉéêçîáåÅÉ=Äó=ANIVMOIUVQ=~åÇ=êÉéêÉëÉåíë=çìê=ÄÉëíóÉ~ê=ÉîÉê=áå=íÉêãë=çÑ=óÉ~êäó=íê~åëÑÉêë=íç=íÜÉmêçîáåÅá~ä=qêÉ~ëìêóK

qÜÉ=ÅçããáëëáçåÛë=ÄìëáåÉëë=áë=áåíÉêå~íáçå~ä=áåëÅçéÉ=ïáíÜ=~ééêçñáã~íÉäó=AOVITQPIMMM=ëéÉåí=çåíÜÉ=éìêÅÜ~ëÉ=çÑ=ÄÉîÉê~ÖÉÇ=~äÅçÜçäK=dêçëëã~êÖáåë=Ü~îÉ=áåÅêÉ~ëÉÇ=Äó=MKNUB=~ë=íÜÉÅçããáëëáçå=Ü~ë=ÄÉÉå=~ÄäÉ=íç=êÉ~Åí=Ñ~ëíÉê=íçÜáÖÜÉê=íê~åëéçêí~íáçå=ÅçëíëK

dêçëë=ë~äÉë=áåÅêÉ~ëÉÇ=~ë=~=êÉëìäí=çÑ=íÜÉÅçããáëëáçåÛë=ëíê~íÉÖó=çÑ=~ííê~ÅíáåÖ=ãçêÉÅìëíçãÉêë=áåíç=çìê=äáèìçê=ëíçêÉëK=få=OMMRJOMMSIíÜÉ=Åçããáëëáçå=ëÉêîÉÇ=OIRPOIPNM=ÅìëíçãÉêëI=~åáåÅêÉ~ëÉ=çÑ=QTIPMVK=qÜáë=áåÅêÉ~ëÉ=áë=~=êÉëìäí=çÑçéÉåáåÖ=çå=íïç=ëí~íìíçêó=ÜçäáÇ~óëI=~å=áåÅêÉ~ëÉáå=éêçãçíáçåë=~åÇ=~å=~ää=~êçìåÇ=ÄÉííÉêëÜçééáåÖ=ÉåîáêçåãÉåí=~ë=~=êÉëìäí=çÑ=ëíçêÉìéÖê~ÇÉëK

m~ÖÉ=NP

G píê~íÉÖáÅ=lÄàÉÅíáîÉ `ìëíçãÉê=pÉêîáÅÉ

dç~äqç=ìåÇÉêëí~åÇ=íÜÉ=åÉÉÇ=çÑ=çìê=ÅìëíçãÉêë=ëç=íÜ~íïÉ=Å~å=éêçîáÇÉ=èì~äáíó=éêçÇìÅíë=~åÇ=ëÉêîáÅÉëíÜ~í=~êÉ=ÇÉäáîÉêÉÇ=Äó=âåçïäÉÇÖÉ~ÄäÉI=ÅçìêíÉçìëÉãéäçóÉÉë=áå=~ííê~ÅíáîÉ=~åÇ=~ÅÅÉëëáÄäÉ=Ñ~ÅáäáíáÉëK

lÄàÉÅíáîÉëNK båÜ~åÅÉ=íÜÉ=ëÜçééáåÖ=ÉñéÉêáÉåÅÉ=Ñçê

mbfi``=ïÜçäÉë~äÉ=~åÇ=êÉí~áä=ÅìëíçãÉêëK

OK mêçîáÇÉ=ëíçêÉ=ìéÖê~ÇÉëK

PK mêçîáÇÉ=ÉåÜ~åÅÉÇ=ÅìëíçãÉê=ëÉêîáÅÉëK

QK fãéêçîÉ=éêçÇìÅí=éçêíÑçäáçK

mÉêÑçêã~åÅÉ=eáÖÜäáÖÜíëaìêáåÖ=íÜÉ=óÉ~ê=íÜÉ=mbfi``=çéÉåÉÇ=~=åÉïäóêÉåçî~íÉÇ=ëíçêÉ=çå=dê~åîáääÉ=píêÉÉí=áåpìããÉêëáÇÉK=qÜÉ=åÉï=ëíçêÉ=áåÅäìÇÉë=~=ä~êÖÉÅÜáääÉÇ=ÄÉîÉê~ÖÉ=ëÉÅíáçåI=ãçêÉ=ÑìåÅíáçå~äëÜÉäîáåÖ=ïáíÜ=ä~êÖÉê=Å~é~ÅáíóI=ïáÇÉê=~áëäÉë=~åÇ=~ÄêáÖÜí=~åÇ=ïÉäÅçãáåÖ=ÉåîáêçåãÉåíK=qÜÉ=ëíçêÉä~óçìí=~ääçïë=Ñçê=ÄÉííÉê=íê~ÑÑáÅ=ÑäçïI=É~ëáÉêÅìëíçãÉê=~ÅÅÉëë=~åÇ=áãéêçîÉÇ=éêçÇìÅí=Çáëéä~óëK

m~ÖÉ=NQ

Figure D – Spirit Sales Volumes by Product Type

Year 2006 2005 2004

Rum 291,235 294,446 296,861

Vodka 179,021 171,580 169,897

Whiskey 161,012 162,746 160,285

Liqueurs 50,120 49,860 49,060

Premix 54,834 49,949 48,141

Scotch 20,143 20,089 19,299

Gin 15,875 14,760 15,139

Brandy 5,378 5,293 5,123

Tequila 3,597 3,254 3,143

Bourbon 3,281 3,191 2,934

Miscellaneous 1,218 1,306 1,587

Total 785,714 776,474 771,469

Figure E – Wine Sales Volumes by Product Type

Year 2006 2005 2004

White 482,111 453,261 433,037

Red 344,790 306,636 274,504

Fruit 40,352 37,750 35,080

Sherry 20,225 20,257 21,469

Rose 17,520 18,866 17,211

Dessert 9,930 11,371 11,957

Port 3,958 4,580 4,783

Vermouth 3,279 3,100 3,374

Miscellaneous 2,455 2,347 2,440

Total 924,620 858,168 803,855

m~ÖÉ=NR

Figure F – Beer Sales Volumes by Product Type

Year 2006 2005 2004

Packaged 8,673,690 8,555,194 8,514,645

Draught 460,137 430,490 462,416

Total 9,133,827 8,985,684 8,977,061

Figure G – Cooler Sales Volumes by Product Type

Year 2006 2005 2004

Spirit Coolers 372,321 383,956 363,888

Wine Coolers 35,232 37,445 46,253

Total 407,553 421,401 410,141

qç=ÉåëìêÉ=íÜ~í=íÜÉ=êáÖÜí=éêçÇìÅíë=~êÉ=áå=íÜÉ=êáÖÜíéä~ÅÉ=~í=íÜÉ=êáÖÜí=éêáÅÉI=íÜÉ=ÅçããáëëáçåÅçåíáåìÉë=ïáíÜ=Å~íÉÖçêó=~å~äóëáë=çÑ=É~ÅÜ=~åÇÉîÉêó=ëíçêÉ=áå=íÜÉ=éêçîáåÅÉK=qÜáë=ìåÇÉêí~âáåÖ=Ü~ëáÇÉåíáÑáÉÇ=Äê~åÇë=íÜ~í=~êÉ=ã~âáåÖ=íÜÉ=Öê~ÇÉ=~åÇÄê~åÇë=íÜ~í=~êÉ=åç=äçåÖÉê=~ééÉ~äáåÖ=áå=íÜÉmêáåÅÉ=bÇï~êÇ=fëä~åÇ=ã~êâÉíK=

aìêáåÖ=íÜÉ=óÉ~ê=ÉåÇÉÇ=j~êÅÜ=PNI=OMMSI=íÜÉêÉïÉêÉ=SO=éêçÇìÅíë=íÜ~í=ÇáÇ=åçí=ã~âÉ=íÜÉ=Öê~ÇÉ~åÇ=íÜìë=íÜÉó=ïÉêÉ=ÇÉäáëíÉÇK=qÜÉêÉ=ïÉêÉ=RO=åÉïäáëíáåÖë=Ñçê=íÜÉ=óÉ~ê=ÖáîáåÖ=íÜÉ=Åçããáëëáçå=~ÜáÖÜ=çÑ=VTP=äáëíáåÖëI=çåÉ=çÑ=íÜÉ=ÜáÖÜÉëí=äáëíáåÖëéÉê=Å~éáí~=áå=`~å~Ç~K=

qÜÉ=ëÜÉäÑ=ëé~ÅÉ=ã~ÇÉ=~î~áä~ÄäÉ=íÜêçìÖÜ=íÜÉÅ~íÉÖçêó=~åÇ=ëÜÉäÑ=ã~å~ÖÉãÉåí=éêçÅÉëë=ïáääÉå~ÄäÉ=íÜÉ=Åçããáëëáçå=íç=í~âÉ=áå=éêçÇìÅíë=íÜ~íïáää=~ééÉ~ä=íç=áëä~åÇÉêë=~åÇ=íçìêáëíë=~åÇI=çÑÅçìêëÉI=ÜÉäé=áå=íÜÉ=ÅçããáëëáçåÛë=Öç~ä=çÑ~åçíÜÉê=êÉÅçêÇ=íê~åëÑÉêK=få=íáãÉI=~ää=çÑ=íÜÉÅçããáëëáçåÛë=ëíçêÉë=ïáää=Ü~îÉ=ìåÇÉêÖçåÉ=íÜÉÅ~íÉÖçêó=êÉîáÉïK

få=~ÇÇáíáçå=íç=íÜÉ=Å~íÉÖçêó=~åÇ=ëÜÉäÑ=ã~å~ÖÉãÉåí~å~äóëáëI=íÜÉ=Åçããáëëáçå=Ü~ë=ÄÉÉå=ïçêâáåÖíáêÉäÉëëäó=ïáíÜ=áíë=ëí~ÑÑ=áå=`ìëíçãÉê=pÉêîáÅÉIÉëéÉÅá~ääó=áå=íÜÉ=éêçÇìÅí=âåçïäÉÇÖÉ=~êÉ~K=

^äíÜçìÖÜ=mêçÇìÅí=håçïäÉÇÖÉ=f=áë=åçï=~êÉèìáêÉãÉåí=çÑ=ÉãéäçóãÉåíI=áí=ÇçÉë=åçí=ÉåÇíÜÉêÉK=jçêÉ=~åÇ=ãçêÉ=ëí~ÑÑ=~êÉ=ÅçåíáåìáåÖ=íçÅçãéäÉíÉ=iÉîÉä=ff=~åÇ=fffI=íÜÉ=ë~ãÉ=mêçÇìÅíhåçïäÉÇÖÉ=mêçÖê~ã=íÜ~í=áë=~î~áä~ÄäÉ=íÜêçìÖÜíÜÉ=iáèìçê=`çåíêçä=_ç~êÇ=çÑ=låí~êáçK

^ë=ïÉääI=ëÉãáå~êë=~êÉ=ÜÉäÇ=áå=ÅçåàìåÅíáçå=ïáíÜíÜÉ=`ìäáå~êó=fåëíáíìíÉ=çÑ=`~å~Ç~=Ñçê=ëí~ÑÑ=Ñêçã~ää=ëíçêÉëK=fåÇìëíêó=ÉñéÉêíë=~êÉ=ÄêçìÖÜí=áå=íçÉñé~åÇ=íÜÉ=éêçÇìÅí=âåçïäÉÇÖÉ=çÑ=íÜÉ=ëí~ÑÑIïÜáÅÜ=áë=áå=íìêå=é~ëëÉÇ=çå=íç=ÅìëíçãÉêëK

m~ÖÉ=NS

G píê~íÉÖáÅ=lÄàÉÅíáîÉ= _ìëáåÉëë=bÑÑÉÅíáîÉåÉëë

dç~äqç=áãéêçîÉ=çéÉê~íáåÖ=ÉÑÑáÅáÉåÅáÉë=~åÇ=ã~å~ÖÉÄìëáåÉëë=éê~ÅíáÅÉë=áå=~=Åäáã~íÉ=çÑ=Åçåíáåìçìë=ÅÜ~åÖÉK

lÄàÉÅíáîÉëNK léÉê~íÉ=íÜÉ=ÄìëáåÉëë=áå=íÜÉ=ãçëí=ÉÑÑÉÅíáîÉ=~åÇ

ÉÑÑáÅáÉåí=ã~ååÉê=éçëëáÄäÉK

OK j~ñáãáòÉ=íÜÉ=ÉÑÑáÅáÉåÅó=çÑ=íÜÉ=mbfi``=äáèìçêÇáëíêáÄìíáçå=çéÉê~íáçåK

mÉêÑçêã~åÅÉ=eáÖÜäáÖÜíë^í=íÜÉ=ÄÉÖáååáåÖ=çÑ=íÜÉ=ÑáëÅ~ä=óÉ~êI=íÜÉ=Åçããáëëáçå=ëÉíáåîÉåíçêó=íìêåçîÉê=Öç~äë=~ë=é~êí=çÑ=áíë=ëíê~íÉÖáÅ=éä~åKqÜÉëÉ=íìêåçîÉê=ê~íÉëI=Ä~ëÉÇ=çå=íÜÉ=éêÉîáçìë=ÑáëÅ~ä=óÉ~êI~ääçï=íÜÉ=Åçããáëëáçå=íç=ãÉ~ëìêÉ=áíë=áåîÉåíçêóÉÑÑáÅáÉåÅáÉëK=

aìêáåÖ=íÜÉ=óÉ~ê=íÜÉ=Åçããáëëáçå=ãÉí=~åÇ=ÉñÅÉÉÇÉÇ=áíëÖç~äë=Ñçê=Ç~óë=áå=áåîÉåíçêóI=ÄçíÜ=~í=íÜÉ=ï~êÉÜçìëÉ~åÇ=ëíçêÉ=äÉîÉäëK=^í=íÜÉ=ëíçêÉ=äÉîÉäI=Ç~óë=áå=áåîÉåíçêóï~ë=OSKPOI=~å=áãéêçîÉãÉåí=çÑ=NKSU=Ç~óëI=~åÇ=POKVSÇ~óë=~í=íÜÉ=ï~êÉÜçìëÉ=äÉîÉäI=~å=áãéêçîÉãÉåí=çÑTKMQ=Ç~óëK

fãéêçîáåÖ=áåîÉåíçêó=íìêåçîÉê=ÇÉÅêÉ~ëÉëíÜÉ=~ãçìåí=íÜÉ=Åçããáëëáçå=Ü~ë=íáÉÇ=ìéáå=áåîÉåíçêóI=íÜìë=áåÅêÉ~ëáåÖ=íÜÉ=ÑìåÇë~î~áä~ÄäÉ=Ñçê=íê~åëÑÉê=íç=íÜÉ=mêçîáåÅÉKfåÅêÉ~ëÉÇ=áåîÉåíçêó=íìêåçîÉê=~í=íÜÉï~êÉÜçìëÉ=~åÇ=ëíçêÉ=äÉîÉä=ëÜçïë=íÜÉÅçããáëëáçåÛë=áåÅêÉ~ëÉÇ=ÉÑÑáÅáÉåÅó=ÄóÄêáåÖáåÖ=éêçÇìÅí=íç=íÜÉ=ÅìëíçãÉêèìáÅâÉê=êÉëìäíáåÖ=áå=áãéêçîÉÇ=ÅìëíçãÉêë~íáëÑ~ÅíáçåK

få=çêÇÉê=íç=ÄÉííÉê=ëÉêîÉ=çìê=ÅìëíçãÉêëIíÜÉ=Åçããáëëáçå=áãéäÉãÉåíÉÇï~êÉÜçìëÉ=éêçÇìÅíáîáíó=êÉéçêíëK=qÜÉëÉêÉéçêíë=ïáää=~ääçï=ìë=íç=ÄÉííÉê=ãçåáíçêçìê=áåîÉåíçêó=íç=ÉåëìêÉ=íÜÉ=ÖççÇë=~êÉ~î~áä~ÄäÉ=íç=ÄÉ=ëÜáééÉÇ=Ñêçã=íÜÉï~êÉÜçìëÉ=íç=íÜÉ=ëíçêÉI=íÜìë=ãáåáãáòáåÖíÜÉ=åìãÄÉê=çÑ=ëíçÅâ=çìíë=~åÇ=áåÅêÉ~ëáåÖÅìëíçãÉê=ë~íáëÑ~ÅíáçåK

m~ÖÉ=NT

G píê~íÉÖáÅ=lÄàÉÅíáîÉ= mìÄäáÅ=p~ÑÉíó=~åÇ=pçÅá~ä=oÉëéçåëáÄáäáíó

dç~äfå=é~êíåÉêëÜáé=ïáíÜ=Åçããìåáíó=Öêçìéë=~åÇëìééäáÉêëI=ïÉ=ïáää=ëíêáîÉ=íç=ê~áëÉ=éìÄäáÅ=~åÇ=ëí~ÑÑ~ï~êÉåÉëë=çÑ=íÜÉ=êÉëéçåëáÄäÉ=ìëÉ=çÑ=ÄÉîÉê~ÖÉ~äÅçÜçäK

lÄàÉÅíáîÉëNK bäáãáå~íÉ=ë~äÉë=íç=ãáåçêë=~åÇ=áåíçñáÅ~íÉÇ

éÉçéäÉK

OK `çåíáåìÉ=íç=áåÅêÉ~ëÉ=íÜÉ=~ï~êÉåÉëë=~åÇéêçãçíÉ=éìÄäáÅ=~ï~êÉåÉëë=çÑ=áëëìÉëëìêêçìåÇáåÖ=êÉëéçåëáÄäÉ=ìëÉ=çÑ=ÄÉîÉê~ÖÉ~äÅçÜçäK

PK fåÅêÉ~ëÉI=íÜêçìÖÜ=é~êíåÉêëÜáéëI=íÜÉ=ÉÑÑÉÅíëçÑ=íÜÉ=êÉëéçåëáÄäÉ=ìëÉ=çÑ=~äÅçÜçäK

mÉêÑçêã~åÅÉ=eáÖÜäáÖÜíëqÜÉ=mbf=iáèìçê=`çåíêçä=`çããáëëáçå=ÅçåíáåìÉëíç=éêçãçíÉ=íÜÉ=êÉëéçåëáÄäÉ=ìëÉ=çÑ=~äÅçÜçäíÜêçìÖÜ=î~êáçìë=~ï~êÉåÉëë=éêçÖê~ãëK=få=ÑáëÅ~äOMMRJOMMSI=áåáíá~íáîÉë=áåÅäìÇÉÇ=a~íÉ=o~éÉL`äìÄaêìÖ=^ï~êÉåÉëë=mêçÖê~ãI=_ìóáåÖ=^äÅçÜçä=ÑçêjáåçêëI=~åÇ=î~êáçìë=açåÛí=aêáåâ=~åÇ=aêáîÉãÉëë~ÖÉëK=aìêáåÖ=éÉ~â=íáãÉë=ëìÅÜ=~ëÖê~Çì~íáçåI=`Üêáëíã~ë=~åÇ=kÉï=vÉ~êÛëIêÉëéçåëáÄäÉJìëÉ=ãÉëë~ÖÉë=ïÉêÉ=ÇáëíêáÄìíÉÇíÜêçìÖÜ=íÜÉ=äçÅ~ä=ãÉÇá~K

qÜÉ=Åçããáëëáçå=é~êíáÅáé~íÉë=çå=~=åìãÄÉê=çÑÅçããáííÉÉë=ëìÅÜ=~ë=mêçîáåÅá~ä=fãé~áêÉÇ=aêáîáåÖ`çããáííÉÉI=pâaI=`~å~Çá~å=iáèìçêgìêáëÇáÅíáçåë=pçÅá~ä=oÉëéçåëáÄáäáíó=`çããáííÉÉ~åÇ=ëéçåëçêë=íÜÉ=êÉëéçåëáÄäÉ=ÄÉîÉê~ÖÉ=ÅçìêëÉ=ÓfíÛë=lìê=_ìëáåÉëëK

qÜÉ=Åçããáëëáçå=ëíêáîÉë=íç=éêçîáÇÉ=éêçÇìÅíë=íÜ~í~êÉ=ëçÅá~ääó=êÉëéçåëáÄäÉ=~åÇ=áåÅçêéçê~íÉëêÉëéçåëáÄäÉ=ãÉëë~ÖáåÖ=áåíç=íÜÉ=éêçÇìÅíéêçãçíáçåK

qÜÉ=Åçããáëëáçå=ÅçåíáåìÉë=íç=~ÅíáîÉäó=ëìééçêíî~êáçìë=Öêçìéë=íÜêçìÖÜ=Åçáå=Äçñ=ÅçääÉÅíáçåë=áåíÜÉ=êÉí~áä=çìíäÉíëK=få=ÑáëÅ~ä=OMMRJOMMSI=ÖêçìéëëìÅÜ=~ë=`~å~Çá~å=oÉÇ=`êçëëI=pâaI=fthI=îpIjìëÅìä~ê=aóëíêçéÜóI=_êÉ~ëí=`~åÅÉê=oÉëçìêÅÉë=çÑmbf=~åÇ=oÉäáÉÑ=cìåÇ=Ñçê=eìêêáÅ~åÉ=h~íêáå~îáÅíáãë=~ää=êÉÅÉáîÉÇ=ÄÉåÉÑáíë=Ñêçã=íÜáë=~ÅíáîáíóK

få=~ÇÇáíáçå=íç=íÜÉ=~ÄçîÉI=Åçããáëëáçå=ëí~ÑÑÅçääÉÅíÉÇ=çîÉê=AOITMM=Ñçê=íÜÉ=nìÉÉå=bäáò~ÄÉíÜeçëéáí~ä=íÜêçìÖÜ=ÇêÉëëJÇçïå=Ç~óëX=~åÇ=íÜÉ~ìÅíáçå=ÜÉäÇ=áå=ÅçåàìåÅíáçå=ïáíÜ=íÜÉ=táåÉcÉëíáî~ä=ê~áëÉÇ=AQIMMM=Ñçê=fëä~åÇ=eçëéáÅÉK

qÜÉ=Åçããáëëáçå=ÅçåíáåìÉë=íç=ëíêáîÉ=Ñçê=çéíáã~äÅçãéäá~åÅÉ=íç=íÜÉ=iáèìçê=`çåíêçä=^ÅíIoÉÖìä~íáçåë=~åÇ=éçäáÅáÉë=áå=~ää=~êÉ~ëK=píçêÉ=ëí~ÑÑÅçåíáåìÉ=íç=ÅÜÉÅâ=~åÇ=îÉêáÑó=íÜÉ=~ÖÉ=çÑÅìëíçãÉêë=ÉåíÉêáåÖ=çìê=ëíçêÉë=~åÇ=~äëç=ÅçåíáåìÉíç=êÉÑìëÉ=áåíçñáÅ~íÉÇ=éÉêëçåëK=qç=íÜáë=ÉåÇI=áåOMMRJOMMS=íÜÉ=ëíçêÉ=ëí~ÑÑ=ÅÜÉÅâÉÇ=QRIOQMéÉçéäÉ=ëìëéÉÅíÉÇ=çÑ=ÄÉáåÖ=ìåÇÉê~ÖÉ=çêáåíçñáÅ~íÉÇ=~åÇ=íìêåÉÇ=~ï~ó=OIVOMK

fåëéÉÅíáçå=ëí~ÑÑ=éÉêÑçêãÉÇ=RIRSV=Åçãéäá~åÅÉáåëéÉÅíáçåë=ÇìêáåÖ=íÜáë=ÑáëÅ~ä=óÉ~ê=ïÜáÅÜ=áë=~åáåÅêÉ~ëÉ=çÑ=SPO=çîÉê=íÜÉ=éêÉîáçìë=óÉ~êK

aìêáåÖ=íÜÉ=OMMRJOMMS=óÉ~êI=íÜÉ=ÅçããáëëáçåÅçåíáåìÉÇ=áíë=ÅçããáíãÉåí=íç=ëçÅá~äêÉëéçåëáÄáäáíó=áå=íÜÉ=~êÉ~ë=çÑ=~äÅçÜçä=ëÉêîáÅÉ=~åÇÅçããìåáíó=ëìééçêíK

m~ÖÉ=NU

qÜÉ=Åçããáëëáçå=é~êíåÉêÉÇ=ïáíÜ=~=åìãÄÉê=çÑçìíëáÇÉ=~ÖÉåÅáÉë=áå=ëÜ~êÉÇ=~ÅíáîáíáÉë=áåÅäìÇáåÖW

√ ~ë=~å=~ÅíáîÉ=ãÉãÄÉê=çÑ=íÜÉ=`îg=E`~å~Çá~å^ëëçÅá~íáçå=çÑ=iáèìçê=gìêáëÇáÅíáçåëF=pçÅá~äoÉëéçåëáÄáäáíó=`çããáííÉÉI=íÜÉ=Åçããáëëáçåé~êíáÅáé~íÉÇ=áå=íÜÉ=çåÖçáåÖ=ÇÉîÉäçéãÉåí=çÑáåÑçêã~íáçå=é~Åâ~ÖÉë=çå=êÉëéçåëáÄäÉ=ìëÉ~åÇ=ëÉêîáÅÉ=çå=~=å~íáçå~ä=Ä~ëáëK

√ pìééçêíÉÇ=mêçîáåÅá~ä=pâa=~ÅíáîáíáÉëïÜÉêÉ=éçëëáÄäÉ=~åÇ=~ëëáëíÉÇ=áå=ëÉåÇáåÖ=mbfpâa=ëíìÇÉåíë=íç=íÜÉ=å~íáçå~ä=`v^fa`çåÑÉêÉåÅÉ=çå=áãé~áêÉÇ=ÇêáîáåÖ=~åÇ=óçìíÜK

√ ^ÇîÉêíáëÉÇ=áå=íÜÉ=äçÅ~ä=ãÉÇá~=p~ÑÉ=mêçãqáéë=Ñçê=m~êÉåíë=~åÇ=píìÇÉåíë=ÇìêáåÖ=ëÅÜççä~åÇ=ìåáîÉêëáíó=Öê~Çì~íáçå=íáãÉëK

√ få=Åçåëìäí~íáçå=ïáíÜ=íÜÉ=^qef=E^íä~åíáÅqçìêáëã=C=eçëéáí~äáíó=fåëíáíìíÉFI=íÜÉÅçããáëëáçå=êÉîáëÉÇ=íÜÉ=é~êíáÅáé~åí=ÄççâäÉí~åÇ=ÅçåíáåìÉë=íç=éêçîáÇÉ=íÜÉ=ã~åÇ~íçêóëÉêîÉê=éêçÖê~ãI=fíÛë=lìê=_ìëáåÉëëI=ïÜáÅÜ=áë~å=~ï~êÉåÉëë=éêçÖê~ã=Ñçê=ëí~ÑÑ=çÑ=äáÅÉåëÉÇéêÉãáëÉëK

√ o~áëÉÇ=ãçåáÉë=Ñçê=fthI=nìÉÉå=bäáò~ÄÉíÜeçëéáí~äI=m~êâáåëçåÛë=pçÅáÉíóI=îp=EiçìdÉÜêáÖÛë=aáëÉ~ëÉFI=`~å~Çá~å=aá~ÄÉíÉë^ëëçÅá~íáçåI=~åÇ=b~ëíÉê=pÉ~äë=`~ãé~áÖåíÜêçìÖÜ=ïÉÉâäó=ëí~ÑÑ=ÇêÉëëJÇçïå=Ç~óëK

m~ÖÉ=NV

G píê~íÉÖáÅ=lÄàÉÅíáîÉ=tçêâéä~ÅÉ=nì~äáíó=~åÇ=bãéäçóÉÉbñÅÉääÉåÅÉ

dç~ä_ìáäÇ=~=ÅìëíçãÉêJÑçÅìëÉÇI=ÜáÖÜJéÉêÑçêã~åÅÉïçêâ=ÉåîáêçåãÉåí=íÜ~í=êÉëìäíë=áå=ÖêÉ~íÉêÉãéäçóÉÉ=áåîçäîÉãÉåíI=ÇÉîÉäçéãÉåíIáååçî~íáçå=~åÇ=ÅêÉ~íáîáíóK

lÄàÉÅíáîÉëNK båÜ~åÅÉ=ëí~ÑÑ=ëâáääë=íÜêçìÖÜ=ÉãéäçóÉÉ

íê~áåáåÖ=éêçÖê~ãëK

OK `çåíáåìÉ=íç=ÇÉîÉäçé=~=ÅìëíçãÉêJÑçÅìëÉÇïçêâéä~ÅÉK

PK mêçîáÇÉ=~=ë~ÑÉI=ÜÉ~äíÜó=~åÇ=Ü~ê~ëëãÉåíJÑêÉÉïçêâéä~ÅÉK

mÉêÑçêã~åÅÉ=eáÖÜäáÖÜíëqê~áåáåÖ=áë=çÑÑÉêÉÇ=íç=iáèìçê=`çåíêçä`çããáëëáçå=ÉãéäçóÉÉë=çå=~å=çåÖçáåÖ=Ä~ëáëKqÜÉ=mêçÇìÅí=håçïäÉÇÖÉ=`çìêëÉ=ÅçåíáåìÉë=íç=ÄÉ~î~áä~ÄäÉ=íç=~ää=~åÇ=íÜÉêÉ=Ü~ë=ÄÉÉå=áåÅêÉ~ëÉÇÉãéÜ~ëáë=éä~ÅÉÇ=çå=ÉåÅçìê~ÖáåÖ=Å~ëì~äÉãéäçóÉÉë=íç=é~êíáÅáé~íÉ=áå=íÜáë=ëíìÇó=ÅçìêëÉK

kìãÉêçìë=ëÜçêí=éêçÇìÅíJâåçïäÉÇÖÉ=ëÉãáå~êë~êÉ=çÑÑÉêÉÇ=çå=~å=~ååì~ä=Ä~ëáë=íç=~=ïáÇÉ=ëÉÅíáçåçÑ=ÉãéäçóÉÉë=éêáçê=íç=íÜÉ=çåëÉí=çÑ=ëìããÉêK=

qê~áåáåÖ=áå=_~ëáÅ=c~ää=mêçíÉÅíáçå=~åÇ=tçêâéä~ÅÉe~ò~êÇçìë=j~íÉêá~äë=fåÑçêã~íáçå=póëíÉã=áëçÑÑÉêÉÇ=íç=çìê=ï~êÉÜçìëÉ=ÉãéäçóÉÉë=~åÇ=`mo~åÇ=cáêëí=^áÇ=~êÉ=çÑÑÉêÉÇ=íç=~ääK=qÜÉ=Åçããáëëáçå~ííÉãéíë=íç=ÉåëìêÉ=íÜ~í=É~ÅÜ=ëíçêÉ=Ü~ëÉãéäçóÉÉë=çå=ëí~ÑÑ=ïÜçëÉ=íê~áåáåÖ=áë=ÅìêêÉåí=áåíÜÉ=~êÉ~ë=çÑ=`mo=~åÇ=cáêëí=^áÇK=p~ÑÉíó=áëëìÉëêÉã~áå=áå=íÜÉ=ÑçêÉÑêçåí=~í=~ää=íáãÉëK=b~ÅÜ=ëíçêÉåçï=Ü~ë=~å=lÅÅìé~íáçå~ä=eÉ~äíÜ=~åÇ=p~ÑÉíóêÉéêÉëÉåí~íáîÉ=~åÇ=ë~ÑÉíó=ÅçåÅÉêåë=~êÉ=~ÇÇêÉëëÉÇéêçãéíäóK=qê~áåáåÖ=Ñçê=íÜÉëÉ=êÉéêÉëÉåí~íáîÉë=áëã~ÇÉ=~î~áä~ÄäÉK

cêÉåÅÜ=ä~åÖì~ÖÉ=íê~áåáåÖ=áë=çÑÑÉêÉÇ=Äó=íÜÉmêçîáåÅá~ä=dçîÉêåãÉåí=çå=~=êÉÖìä~ê=Ä~ëáëKbãéäçóÉÉë=ïÜçëÉ=àçÄë=êÉèìáêÉ=íÜÉ=ëâáääI=çêïÜçëÉ=àçÄë=ïçìäÇ=ÄÉ=ÉåÜ~åÅÉÇ=ïáíÜ=íÜáë=ëâáääI~êÉ=ÉäáÖáÄäÉ=íç=é~êíáÅáé~íÉK=qÜÉ=iáèìçê=`çåíêçä`çããáëëáçå=Ü~ë=~=åìãÄÉê=çÑ=ÉãéäçóÉÉë=ïÜç~êÉ=ÜçéáåÖ=íç=áåÅêÉ~ëÉ=íÜÉ=ëâáääë=íÜÉó=~äêÉ~ÇóÜ~îÉ=áå=íÜáë=~êÉ~=~åÇ=íÜÉó=ïáää=ÄÉ=çÑÑÉêÉÇ=íÜÉçééçêíìåáíó=íç=Çç=ëç=ïÜÉå=Åä~ëëêççã=çéÉåáåÖëÄÉÅçãÉ=~î~áä~ÄäÉK

iÉ~êåáåÖ=çééçêíìåáíáÉë=çÑÑÉêÉÇ=Äó=íÜÉ=mêçîáåÅá~ädçîÉêåãÉåíI=áå=ÅçåàìåÅíáçå=ïáíÜ=çíÜÉêáåëíáíìíáçåë=ëìÅÜ=~ë=rmbfI=Ü~îÉ=ÄÉÉå=~ÅÅÉëëÉÇ=Äóçìê=ÉãéäçóÉÉëK=qÜçëÉ=áåÅäìÇÉ=ÅçìêëÉë=ëìÅÜ=~ë`çããìåáÅ~íáçå=áå=íÜÉ=tçêâéä~ÅÉI=e~åÇäáåÖaáÑÑáÅìäí=`ìëíçãÉêë=~åÇ=páíì~íáçåëI=iÉ~ÇÉêëÜáéqÜÉçêáÉëI=`çåíáåìçìë=iÉ~êåáåÖ=~åÇ=_ìáäÇáåÖlêÖ~åáò~íáçå~ä=qêìëíK

qÜÉ=qê~áåáåÖ=~åÇ=aÉîÉäçéãÉåí=cìåÇ=éêçîáÇÉÇÄó=íÜÉ=mêçîáåÅá~ä=dçîÉêåãÉåí=Ü~ë=ÄÉÉå=~î~äì~ÄäÉ=êÉëçìêÅÉ=áå=~ëëáëíáåÖ=ÉãéäçóÉÉë=íçé~êíáÅáé~íÉ=áå=íê~áåáåÖ=çééçêíìåáíáÉëK=

m~ÖÉ=OM

lééçêíìåáíáÉë=~åÇ=`Ü~ääÉåÖÉë=^ÜÉ~Ç

iççâáåÖ=~ÜÉ~ÇI=íÜÉ=mbfi``=Ü~ë=áÇÉåíáÑáÉÇ=~åìãÄÉê=çÑ=ÅÜ~ääÉåÖÉëK

lîÉê=íÜÉ=é~ëí=ëÉîÉê~ä=óÉ~êëI=mbfi``=Ü~ë=ëíêáîÉåíç=ãÉÉí=íÜÉ=ÉñéÉÅí~íáçåë=çÑ=~å=áåÅêÉ~ëáåÖäóÇáîÉêëÉ=~åÇ=ÇáëÅÉêåáåÖ=ÅçåëìãÉê=Ä~ëÉK=kÉïëíçêÉë=~åÇ=êÉåçî~íáçåë=áåÅçêéçê~íáåÖ=ÅìëíçãÉêJÑêáÉåÇäó=ÇÉëáÖåë=Ü~îÉ=êÉëìäíÉÇ=áå=ÅÜ~åÖÉë=íç=ÜçïïÉ=ã~êâÉí=çìê=éêçÇìÅíëK=^ë=ïÉ=ÅÜ~åÖÉ=íç=ãÉÉíÅçåëìãÉê=åÉÉÇëI=ïÉ=~êÉ=~äëç=ëÉííáåÖ=ëí~åÇ~êÇëÑçê=Ñ~ÅáäáíáÉë=~åÇ=ëÉêîáÅÉë=ïÜáÅÜ=ïáää=êÉèìáêÉáåîÉëíãÉåí=çîÉê=íáãÉK=tÉ=ïáää=~äëç=åÉÉÇ=íçáåîÉëí=ÄçíÜ=Üìã~å=~åÇ=Ñáå~åÅá~ä=êÉëçìêÅÉë=íçÑìäÑáä=çìê=OMMSJOMMV=píê~íÉÖáÅ=mä~åK

jÉÉíáåÖ=ÑìíìêÉ=åÉÉÇë=êÉèìáêÉë=~=Å~éáí~ä=éä~åáåîçäîáåÖ=áåîÉëíãÉåí=áå=íÉÅÜåçäçÖó=~åÇ=êÉí~áäëíçêÉëK=qç=éêçîáÇÉ=íÜÉ=åÉÅÉëë~êó=ÑìåÇë=Ñçê=íÜÉëÉáåîÉëíãÉåíëI=mbfi``=Ü~ë=~=ãçåÉí~êó=íê~åëÑÉêÖç~ä=çÑ=AOV=ãáääáçå=íç=íÜÉ=mêçîáåÅá~ädçîÉêåãÉåí=Ñçê=íÜÉ=OMMSJOMMT=ÑáëÅ~ä=óÉ~êK

^=âÉó=ÅÜ~ääÉåÖÉ=Éñáëíë=áå=íÜÉ=~êÉ~=çÑ=Üìã~åêÉëçìêÅÉëK=^ë=ÉãéäçóÉÉë=êÉíáêÉ=~åÇ=åÉï=êÉí~áäÑ~ÅáäáíáÉë=~åÇ=íÉÅÜåçäçÖó=ÅêÉ~íÉ=åÉï=åÉÉÇëI=ïÉ~êÉ=ÅÜ~ääÉåÖÉÇ=íç=Åçåëí~åíäó=Éñ~ãáåÉ=Üçï=ïÉÇÉéäçó=Üìã~å=êÉëçìêÅÉëK=tÉ=ãìëí=~äëç=ÉåëìêÉíÜ~í=ïÉ=Ü~îÉ=íÜÉ=êÉëçìêÅÉë=íç=éêçîáÇÉ=çåÖçáåÖíê~áåáåÖ=~åÇ=ëìééçêí=Ñçê=åÉï=ëí~ÑÑ=~åÇ=ÑçêÉñáëíáåÖ=ëí~ÑÑ=êÉèìáêáåÖ=åÉï=ëâáääë=íç=ÉåÜ~åÅÉÄçíÜ=éêçÇìÅíáîáíó=~åÇ=àçÄ=ë~íáëÑ~ÅíáçåK

mbfi``Ûë=ÅçããáíãÉåí=íç=ëçÅá~ä=êÉëéçåëáÄáäáíóéêÉëÉåíë=çåÖçáåÖ=çééçêíìåáíáÉë=íç=ÖÉí=íÜÉãÉëë~ÖÉ=çÑ=êÉëéçåëáÄäÉ=ÇêáåâáåÖ=~åÇ=éìÄäáÅë~ÑÉíó=çìí=íç=~=ïáÇÉ=ê~åÖÉ=çÑ=~ìÇáÉåÅÉëIáåÅäìÇáåÖ=óçìíÜK=

råÇÉêäóáåÖ=~ää=çÑ=íÜÉëÉ=ÅÜ~ääÉåÖÉë=~åÇçééçêíìåáíáÉë=áë=çìê=îáëáçå=çÑ=ÉñÅÉääÉåÅÉ=áåã~å~ÖÉãÉåíK=_ó=ÄÉáåÖ=éêÉé~êÉÇ=íç=Å~éáí~äáòÉ=çååÉï=çééçêíìåáíáÉë=áå=íÜÉ=ã~êâÉíéä~ÅÉ=~åÇÅçåíáåìáåÖ=íç=áåíÉÖê~íÉ=~åÇ=ëíêÉ~ãäáåÉ=çìêçéÉê~íáçåëI=ïÉ=ÄÉäáÉîÉ=ïÉ=~êÉ=ÄìáäÇáåÖ=~åçêÖ~åáò~íáçå=íÜ~í=áë=áåíÉêå~ääó=ãçêÉ=ÉÑÑáÅáÉåí~åÇ=éìÄäáÅäó=ãçêÉ=~ÅÅçìåí~ÄäÉK

m~ÖÉ=ON

mêáåÅÉ=bÇï~êÇ=fëä~åÇ=iáèìçê=`çåíêçä=`çããáëëáçåoÉí~áä=iáèìçê=lìíäÉíë

içÅ~íáçå||||||||||||||||||||||

^äÄÉêíçå

_çêÇÉåJ`~êäÉíçå

`~êÇáÖ~å

`Ü~êäçííÉíçïå=j~ää

`çêåï~ää

hÉåëáåÖíçå

jçåí~ÖìÉ

jçêÉää=^ÖÉåÅó

kçêíÜ=oìëíáÅç

l~â=qêÉÉ

j~å~ÖÉê||||||||||||||||||||||

píÉéÜÉå=`~ää~ÖÜ~å

pìë~å=e~êîÉó

^åáí~=lÛ`çååçê

pí~å=_êó~åíçå

táääá~ã=j~Åjáää~å

qÉêêó=ióåå=j~ÅhÉåòáÉ


açåå~=tÉÄëíÉê

qÉêêó=ióåå=j~ÅhÉåòáÉ

gçÜå=^ÄÄçíí

içÅ~íáçå||||||||||||||||||||||

lÛiÉ~êó

nìÉÉå=píêÉÉí

dê~åîáääÉ=píêÉÉí

pçìêáë

pìããÉêëáÇÉ=t~íÉêÑêçåí

píê~íÑçêÇ

qáÖåáëÜ

qóåÉ=s~ääÉó

tÉääáåÖíçå

tççÇ=fëä~åÇë

j~å~ÖÉê|||||||||||||||||||

píÉéÜÉå=`~ää~ÖÜ~å

rêÄ~å=j~Åaçå~äÇ

oçå~äÇ=vÉç

m~ìä=aÉîÉ~ì

_~êÄ=páãéëçå

^ä~å=`ê~åÉ

p~åÇê~=e~ïäÉó

`ä~êÉåÅÉ=oáÅÜ~êÇ

`ä~êÉåÅÉ=oáÅÜ~êÇ


m~ÖÉ=OO

oÉí~áä=p~äÉë=Äó=píçêÉë=OMMRLOMMS

Retail Store Year Ended March 31, 2006

Year EndedMarch 31, 2005

Increase(Decrease)

Alberton $ 1,525,318 $ 1,414,524 $ 110,794

Borden/Carleton 1,465,542 1,420,392 45,150

Cardigan 1,935,651 1,908,282 27,369

Charlottetown Mall 7,205,711 6,804,552 401,159

Charlottetown – Queen Street ** 2,464,069 2,693,065 (228,996)

Cornwall 3,810,057 3,529,931 280,126

Kensington 3,093,750 2,973,309 120,441

Licensee Distribution Centre 5,862,503 5,266,738 595,765

Montague 3,983,733 3,804,911 178,822

North Rustico 2,999,976 2,872,499 127,477

O’Leary 1,435,400 1,460,906 (25,506)

Oak Tree Place 12,907,885 12,270,866 637,019

Sherbrooke 6,351,350 6,264,311 87,039

Souris 2,328,213 2,267,895 60,318

Summerside – Waterfront 5,510,409 5,270,119 240,290

Stratford 6,222,343 5,841,669 380,674

Tignish 2,020,627 1,904,494 116,133

Tyne Valley 979,511 924,013 55,498

Wellington 1,152,602 1,144,901 7,701

Wood Islands 510,665 532,789 (22,124)

Warehouse 243,489 397,638 (154,149)

Total $ 74,008,804 $ 70,967,804 $ 3,041,000

GG=nìÉÉå=píêÉÉí=Ó=aÉÅêÉ~ëÉ=áå=ë~äÉë=~í=çìê=nìÉÉå=píêÉÉí=äçÅ~íáçå=ï~ë=ÇìÉ=íç=êÉÇìÅÉÇ=~ÅÅÉëë=~åÇ=é~êâáåÖêÉëìäíáåÖ=Ñêçã=êç~Ç=ïçêâ=~åÇ=ÅçåëíêìÅíáçå=áå=íÜÉ=Ççïåíçïå=~êÉ~K

m~ÖÉ=OP

pìãã~êó=çÑ=mêçÑáí=~åÇ=bñéÉåëÉ=o~íáçëcáîÉJóÉ~ê=`çãé~êáëçå=

(in 000s)

2006 2005 2004 2003 2002

Sales $74,008 $70,968 $69,339 $66,003 $63,716

Gross Profit $21,342 $20,343 $20,158 $18,887 $18,482

Net Profit $12,070 $10,928 $10,643 $10,071 $10,178

General and Administrative Expenses $11,011 $11,036 $10,809 $9,998 $9,201

Gross Profit as Percentage of Sales 28.8% 28.7% 29.1% 28.6% 29.0%

Net Profit as Percentage of Sales 16.3% 15.4% 15.3% 15.3% 16.0%

General and Administrative Expensesas a Percentage of Sales

14.9% 15.6% 15.6% 15.1% 14.4%

m~ÖÉ=OQ

qçí~ä=iáÅÉåÅÉë=~åÇ=péÉÅá~ä=mÉêãáíë=j~êÅÜ=PNI=OMMR=~åÇ=j~êÅÜ=PNI=OMMS

Licence Type 2006 2005

Dining Room 196 201

Lounge 89 91

Club 67 68

Military Canteen 23 23

Special Premise 54 54

Caterer 22 21

Agency Store 1 1

Winery 1 1

Brew Pub 0 0

Micro-Brewery 1 1

Tourist Home 6 7

Total Licences in Effect 460 468

aìêáåÖ=íÜÉ=OMMRJOMMS=ÑáëÅ~ä=óÉ~êI=íÜÉ=iáÅÉåëáåÖ=~åÇ=pÉÅìêáíó=aáîáëáçå=áëëìÉÇ=RP=åÉï=äáÅÉåÅÉë=~åÇSN=äáÅÉåÅÉë=ïÉêÉ=ÉáíÜÉê=åçí=êÉåÉïÉÇ=çê=ïÉêÉ=îçäìåí~êáäó=ëìêêÉåÇÉêÉÇK

Special Permits Issued 2006 2005

Class I 92 81

Class II 235 209

Total 327 290

^=`ä~ëë=f=éÉêãáí=ÉåíáíäÉë=Üçëí=íç=ÖáîÉ=ÄÉîÉê~ÖÉë=íç=ÖìÉëíëK^=`ä~ëë=ff=éÉêãáí=ÉåíáíäÉë=Üçëí=íç=ëÉää=ÄÉîÉê~ÖÉë=íç=ÖìÉëíëK

Appendix

Auditor’s Reportand

Audited Financial Statements

PRINCE EDWARD ISLAND

LIQUOR CONTROL COMMISSION

FINANCIAL STATEMENTS

MARCH 31, 2006

STATEMENT 2

PRINCE EDWARD ISLAND LIQUOR CONTROL COMMISSION

STATEMENT OF INCOME

FOR THE YEAR ENDED MARCH 31, 2006

2006 2005

SALES $74,008,804 $70,967,804

Less: Provincial Health Tax $12,798,089 $12,255,953Provincial Sales Tax 5,563,322 5,344,399Federal Goods & Services Tax 4,561,902 22,923,313 4,406,805 22,007,157

NET SALES 51,085,491 48,960,647

COST OF GOODS SOLD 29,743,501 28,617,562

GROSS PROFIT 21,341,990 20,343,085

EXPENSES Amortization 931,280 916,058 Insurance and taxes 184,300 187,319 Interest on long-term debt 296,284 329,858 Leases - Note 3 771,598 882,997 Other operating expenses 759,740 742,038 Repairs and maintenance 509,298 509,762 Salaries and benefits - Note 5 6,491,890 6,454,130 Store and office expenses 318,482 277,842 Travel 110,968 111,957 Utilities 637,400 11,011,240 624,144 11,036,105

10,330,750 9,306,980

OTHER INCOME 1,739,378 1,621,313

NET INCOME - Note 1(c) $12,070,128 $10,928,293

(The accompanying notes are an integral part of these financial statements.)

STATEMENT 3


STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED MARCH 31, 2006

2006 2005 Cash provided by (used for):

OPERATING ACTIVITIESNet income for the year $12,070,128 $10,928,293 Amounts charged against income not requiring an outlay of cash: Amortization 931,280 916,058

13,001,408 11,844,351 Changes in non-cash working capital: (Increase) Decrease in accounts receivable 71,140 (102,361) (Increase) Decrease in inventories 104,871 26,415 (Increase) Decrease in prepaid expenses (10,033) 13,603 Increase (Decrease) in accounts payable (848,151) 817,166 Net cash provided by operating activities 12,319,235 12,599,174

FINANCING ACTIVITIESCash payments to Provincial Treasury (12,045,215) (11,450,993)Loans from Province 300,000 300,000 Debenture repayment (666,039) (772,411)Net cash used for financing activities (12,411,254) (11,923,404)

INVESTING ACTIVITIESAcquisition of capital assets (483,004) (208,670)

Increase (Decrease) in cash (575,023) 467,100 Cash at beginning of year 1,321,989 854,889 Cash at end of year $ 746,966 $ 1,321,989

(The accompanying notes are an integral part of these financial statements.)


NOTES TO FINANCIAL STATEMENTS

MARCH 31, 2006

1. Summary of significant accounting policies

(a) Capital AssetsCapital assets are stated at cost less accumulated amortization. Amortizationof buildings, furniture and equipment and leasehold improvements arecalculated on a straight-line basis at the rates indicated in Note 2.

(b) InventoriesInventories are valued at the lower of first-in, first-out cost and net realizablevalue.

(c) Net IncomeAll net income of the Commission accrues directly to the Province. Transfersof net income are made to the Operating Fund on a continuing basis as excesscash becomes available.

2. Capital Assets

2006 2005Amortization Accumulated Net Book Net Book Rate Cost Amortization Value Value

Land $ 85,537 $ - $ 85,537 $ 85,537Buildings 5% 4,493,527 2,940,577 1,552,950 1,479,347Equipment 10 & 20% 1,344,909 1,199,627 145,282 90,672Vehicles 30% 100,850 75,637 25,213 55,468Leasehold Improvements 10% 4,142,555 2,470,206 1,672,349 1,844,077Financial Information System 20% 1,962,714 1,597,579 365,135 739,641

$12,130,092 $8,283,626 $3,846,466 $4,294,742

3. Leases

The Prince Edward Island Liquor Control Commission leases various pieces ofcomputer hardware and software as well as 13 retail outlets which have maturitydates between fiscal 2007 and 2018. Future minimum lease payments are as follows:

Fiscal Years Amount2007 $ 578,3612008 459,1972009 421,9842010 352,0242011 349,8872012-2018 1,280,332

$3,441,785


NOTES TO FINANCIAL STATEMENTS (CONTINUED)

MARCH 31, 2006

4. Debentures Payable - Province of Prince Edward Island

Balance Less Current Long TermMarch 31, 2006 Portion Liability

CornwallRepayable in equal annual installmentsof $35,184 including interest @ 6.75%per annum, maturing December 10, 2006. $ 32,959 $ 32,959 $ -

StratfordRepayable in equal annual installmentsof $40,415 including interest @ 7.375%per annum, maturing February 10, 2007. 37,639 37,639 -

Borden-Carleton Repayable in equal annual installmentsof $37,442 including interest @ 5.74%per annum, maturing January 21, 2008. 68,896 33,487 35,409

KensingtonRepayable in equal annual installmentsof $49,143 including interest @ 6.70%per annum, maturing November 8, 2009. 167,592 37,915 129,677

North RusticoRepayable in equal annual installmentsof $38,936 including interest @ 6.79%per annum, maturing March 24, 2010. 132,512 29,938 102,574

Charlottetown (Oak Tree)Repayable in equal annual installmentsof $197,398 including interest @ 6.79%per annum, maturing March 24, 2010. 671,811 151,782 520,029

CardiganRepayable in equal annual installmentsof $55,381 including interest @ 6.40%per annum, maturing February 16, 2011. 230,771 40,612 190,159

Summerside (Waterfront)Repayable in equal annual installmentsof $88,042 including interest @ 6.77%per annum, maturing July 18, 2011. 422,653 59,429 363,224



MARCH 31, 2006

4. Debentures Payable - Province of Prince Edward Island (continued)

Balance Less Current Long TermMarch 31, 2006 Portion Liability

Financial Information SystemRepayable in equal annual installmentsof $195,599 including interest @ 6.57%per annum, maturing March 28, 2012. 944,834 133,523 811,311

Wood IslandsRepayable in equal annual installmentsof $33,052 including interest @ 5.85%per annum, maturing November 27, 2012. 185,494 22,200 163,294

Charlottetown (Queen Street)Repayable in equal annual installmentsof $60,016 including interest @ 5.61%per annum, maturing August 1, 2013. 378,508 38,782 339,726

TignishRepayable in equal annual installmentsof $99,684 including interest @ 5.40%per annum, maturing January 9, 2014. 633,990 65,449 568,541

Charlottetown (Head Office)Repayable in equal annual installmentsof $38,889 including interest @ 5.02%per annum, maturing March 7, 2015. 276,171 25,025 251,146

SherbrookeRepayable in equal annual installments of$38,493 including interest @ 4.81% per annum, maturing February 28, 2016. 300,000 24,064 275,936

$4,483,830 $732,804 $3,751,026

The total principal repayment for the next five years is as follows:

2007 $ 732,8042008 703,8242009 710,6422010 755,5632011 517,872Total $3,420,705



MARCH 31, 2006

5. Pension and Other Employee Benefits

Employees of the Prince Edward Island Liquor Control Commission are members ofthe Prince Edward Island Civil Service Superannuation Plan. Other employee benefitsand the employer's share of the plan benefits plus any additional future actuarialliabilities are assumed by the Province of P.E.I. and are not reflected in theCommission's financial statements.

6. Fair Value of Financial Instruments

The fair value of the Commission’s cash, accounts receivable, accounts payable andaccruals, debentures payable and due to the Province approximates their carryingamounts.

lcc 2006 annual report - prince edward island · q~ÄäÉ=çÑ=`çåíÉåíë...

Documents