/DVHPSUHVDV$UUqOLD1DWXUD/RFDO\2PQLURRPVSDUWLFLSDQWHVGHOSURJUDPD)X785,PSDFW &$6$.70;$ %CTEGNQPC(EQPQOªCU %CTEGNQPC *KTQPC .NGKFC 6CTTCIQPC )KTCFG%CTEGNQPC &CPCN$ITQ %CTEGNQPC(EQPQOªCU &QPUWNVGGNGUVCFQFGN6TÒEQ[FGN6KGORQRCTCGUVQUFªCU!! .CUGORTGUCU$TT¥NKC0CVWTC.QECN[1OPKTQQOU RCTVKEKRCPVGUFGNRTQITCOC)W674ØORCEV 2WDNKECFQ &(6 %$4&(.10$,WN(7412$24(55 (NRQTVCN$TT¥NKCNCRNCVCHQTOC0CVWTC.QECN[GNRQTVCNFGTGUGTXCFGJCDKVCEKQPGU CEEGUKDNGUGPUKNNCFGTWGFCU1OPKTQQOUUQPNCUVTGURTKOGTCUEQORC®ªCU UGNGEEKQPCFCUSWGRCTVKEKRCTPGPNCRTKOGTCGFKEK°PFGNRTQITCOCFGCEGNGTCEK°P )W674ØORCEVSWGGUVCUGOCPCUGRQPGGPOCTEJCJCKPHQTOCFQGUVGOK¦TEQNGU %CTEGNQPC$EVKXC 5QPRTQ[GEVQUFGTGEKGPVGETGCEK°PFGGPVTGWPQ[VTGUC®QUFGXKFCXKPEWNCFQCN VWTKUOQTGURQPUCDNGU[CEEGUKDNG[FWTCPVGNQURT°ZKOQUFKG\OGUGUGUVCTP KPUVCNCFCUGPØ OUVCTVWRDCTEGNQPCFG%CTEGNQPC$EVKXC (PWPCRTKOGTCHCUGUGKORWNUCTGN IQVQOCTMGV FGNQURTQ[GEVQUCVTCX¦UFGCNKCP\CU GUVTCV¦IKECUEQPGORTGUCUFGNUGEVQTRCTCEQPUGIWKTCWOGPVCTNCUXGPVCU[GPWPC UGIWPFCCRCTVKTFGQEVWDTGUGVTCDCLCTNCGUVTCVGIKCFGÒPCPEKCEK°PGKPXGTUK°P (NRTQITCOCGUWPCKPKEKCVKXCEQPLWPVCFG5JKR%%CTEGNQPC$EVKXCNC'KRWVCEK°PFG KWWSZZZHXURSDSUHVVHVFDWDOXQ\DEDUFHORQDHFRQRPLDVQRWLFLDHPSUHVDVDUUHOLDQDWXUDORFDORPQLURRPVSDUWLFLSDQWHVSURJUDPDIXWXULPSDFW« /DVHPSUHVDV$UUqOLD1DWXUD/RFDO\2PQLURRPVSDUWLFLSDQWHVGHOSURJUDPD)X785,PSDFW %CTEGNQPC&CVCNQPKC+QVGNU4GUQTVNC$IGPEKC&CVCNCPCFG6WTKUOQGN1DUGTXCVQTKQ FG6WTKUOQ4GURQPUCDNGFGNC7PKXGTUKVCV4COQP.NWNN74.[GN*TGOKQFG+QVGNGUFG %CTEGNQPCEQPNCXQNWPVCFFGRTQOQXGTPWGXQUOQFGNQUVWTªUVKEQU (PVQVCNJCPTGEKDKFQOUFGUQNKEKVWFGUGPVTGNQUSWGUGJCPUGNGEEKQPCFQNQUVTGU RTQ[GEVQUKPPQXCFQTGUSWGPGEGUKVCPWPCKP[GEEK°POGFKCFGGWTQUFGECRKVCN RCTCETGEGT 5KIWGCSWªVQFCNCCEVWCNKFCF a NVKOCUPQVKEKCU $EWGTFQ22&uU ØPXGUVKFWTCÌ /WGTG,WCP*CÌ %QODCGP%TWÌ 6GTGEQOGPFCOQU b$VGPEK°PCNQUECLGTQU EWCPFQXC[CUCUCECT FKPGTQ UHFRPHQGDGRSRU (NNWLQFG1NXKFQ+QTOKIQU +CDNCRQTPGEGUKFCF" OKP 7PLQXGPUGKPVGPVCUWKEKFCT CTTQLPFQUGCNQUNGQPGUGP WP\QQGP&JKNG .CEOCTCFGNO°XKNPQ UQNQJCEGHQVQUWUQU CNVGTPCVKXQUSWGPQVKGPGP FGURGTFKEKQ (NEQPQEKFQEQOQ +WNM KTCPª UGWPGCNGL¦TEKVQ RCTCNWEJCTEQPVTCGN (UVCFQØUNOKEQGP5KTKC $DQPCFQU )1615'GNEWGTRC\QFG :KUECCNDCKNGFG0CFCNUWU FKXGTVKFCUXCECEKQPGUGP ØDK\C KWWSZZZHXURSDSUHVVHVFDWDOXQ\DEDUFHORQDHFRQRPLDVQRWLFLDHPSUHVDVDUUHOLDQDWXUDORFDORPQLURRPVSDUWLFLSDQWHVSURJUDPDIXWXULPSDFW«