Dear sirs,
we take pleasure in sending you our newspaper --Land Economic Digest .It is
launched by Land Economic Group and published once every two weeks . Since its
publication, it has been well received at home and abroad.
Land Group is a private enterprise rising in the drive of China's open door
and reform policy. It is the purpose of the group, through publishing the
English newspaper Land Digest, to reach overseas large companies in the hope
of establiishing firm international business relations and a complete
communication network. As a transnational capital management corporation
covering a variety of businesses on finance, energy, transportation,
telecommunications and regional development, the key to the group's
development and international reputation is communication. The English
newspaper Land Economic Digest will be the irreplaceable communication link
encouraging international lcompanies to turn their attention to Land Group.
For the time being, Land Economic Digest will be distributed to you free fo
charge. We will be very grateful to you, if you kindly send to us your
suggestions adn criticism.
Sincerely yours
Land
addr.:[log in to unmask]
<---- Begin Attached File ---->
begin 644 LEDNET26.TXT
M3&%N9"!%8V]N;VUI8R!$:6=E<W0@#0H-"@T*(%-P965D:6YG('5P($QA;F0G
M<R!G;&]B86QI>F%T:6]N(`T*3&%N9"=S(&]V97)S96%S(&)R86YC:&5S(&%R
M92!S<')E861I;F<@86QL(&]V97(@=V]R;&0-"DQA;F0@1W)O=7`@:&%S(&UA
M9&4@82!M86IO<B!S=')A=&5G:6,@87)R86YG96UE;G0@;V8@97-T86)L:7-H
M:6YG($QA;F0G<R!O=F5R<V5A<R!B<F%N8VAE<RP@=VAI8V@@=VEL;"!B92!I
M=',@<&QE;FEP;W1E;G1I87)Y(')E<')E<V5N=&%T:79E<R!I;B!T:&5I<B!R
M97-P96-T:79E(')E<VED96YT(&-O=6YT<FEE<RX-"E!U='1I;F<@:6YT;R!E
M9F9E8W0@=&AE(&=U:61E;&EN92!O9B`B(%-E='1I;F<@;V9F(&%N('5P<W5R
M9V4@;V8@8V]M<&QE=&4@:6YT97)N871I;VYA;&EZ871I;VX@8GD@9&]I;F<@
M82!G;V]D(&IO8B!O9B!C;VYC<F5T92!B=7-I;F5S<R!I;B`Q.3DV+"(@82!R
M97!O<G0@;6%D92!B>2!H:6T@870@3&%N9"=S('=O<FMI;F<@8V]N9F5R96YC
M92!F;W(@,3DY-BP@($QA;F0@)W,@<')E<VED96YT($UO=2!1:7IH;VYG(&-O
M;G9E;F5D(&9I=F4@=V]R:VEN9R!S97-S:6]N<R!C;VYS96-U=&EV96QY(&9R
M;VT@36%R8V@@."!T;R`Q,BX@26X@8V]N;F5C=&EO;B!W:71H('1H92!S=')A
M=&5G:6,@87)R86YG96UE;G0L(&AE(&%D:G5S=&5D($QA;F0G<R!O<F=A;FEZ
M871I;VYA;"!C:&%R="`@86YD(&%P<&]I;G1E9"!R96QA=&5D(&QE861I;F<@
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M+B`-"E=H870@:&4@<V%W(&%N9"!H96%R9"!D=7)I;F<@=&AI<R!T<FEP(&-O
M;F9I<FUS(&%L;"!H:7,@:G5D9VUE;G1S(&]N('=O<FQD(&5C;VYO;7D@86YD
M(&EN=&5R;F%T:6]N86P@<VET=6%T:6]N(&EN('1H92!P87-T('EE87)S+"!H
M92!S86ED+B`B3W5R(&%I;2!I<R!C;&5A<B!A;F0@9&5F:6YI=&4N($ET(&ES
M('1I;64@9F]R($QA;F0@1W)O=7`@=&\@<W!E960@=7`@:71S(&EN=&5R;F%T
M:6]N86QI>F%T:6]N(&]N(&$@;&%R9V4@<V-A;&4N(B`-"E1H92!F:7)S="!B
M871C:"!O9B!T:&4@8G)A;F-H97,@=V5R92!D96-I9&5D('1O(&)E('-E="!U
M<"!I;B!.97<@66]R:RP@0VAI8V%G;RP@4V%N($9R86YC:7-C;RP@3&]S($%N
M9V5L97,L($AO;F<@2V]N9R!A;F0@4VEN9V%P;W)E+B!"<F%N8VAE<R!I;B!3
M;W5T:&5A<W0@07-I82!A<R!W96QL(&%S("!I;B!&<F%N:V9U<G0@86YD(&]T
M:&5R("!C:71I97,@:6X@175R;W!E(&%R92!U;F1E<B!P<F5P87)A=&EO;BX@
M#0I!;&P@;V8@('1H92!B<F%N8VAE<R`H96%R;&EE<B!C86QL960@3&%N9"!0
M;W)T<RDL('1O(&)E(&-A;&QE9"`B(&)R86YC:&5S(&]F($)E<FUU9&$@3&%N
M9"!);G1E<FYA=&EO;F%L($9I;F%N8V4@1W)O=7`B('5N9&5R('1H92!D:7)E
M8W0@<W5P97)V:7-I;VX@;V8@3&%N9"!H96%D<75A<G1E<G,L(&%R92!I;B!C
M:&%R9V4@;V8@=&AE(&%D;6EN:7-T<F%T:79E(&%F9F%I<G,@:6X@=&AE:7(@
M<F5S<&5C=&EV92!R97-I9&5N="!A<F5A<RP@(&)U="!G96YE<F%L;'D@;F]T
M(&5N9V%G960@:6X@8G5S:6YE<W,N(%1H97D@;6%I;FQY('!R;W9I9&4@9F]R
M("!,86YD('!E;W!L92!D;VEN9R!B=7-I;F5S<R!A8G)O860N(`T*(")4:&4@
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M965T:6YG(&]N([log in to unmask]@#0I3;VUE('-T869F(&UE;6)E<G,@;V8@=&AE
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M;B!I=',@=V]R:RX@("`@("A,86YD(%9I97<I#0H-"B`@3W9E<G-E87,@0VAI
M;F5S92!U<F=E9"!T;R!S97)V92!M;W1H97)L86YD(`T*#0I-965T:6YG($]V
M97)S96%S($-H:6YE<V4@:7,@86X@:6UP;W)T86YT('!A<G0@;V8@36]U(%%I
M>FAO;F<G<R!!;65R:6-A;B!T<FEP(&EN($9E8G)U87)Y+B!$=7)I;F<@:&ES
M('-T87D@:6X@3&]S($%N9V5L97,@9G)O;2!&96)R=6%R>2`R-R!T;R!-87)C
M:"`Q+"!H92!M970@0VAI;F5S92!S='5D96YT<R!I;B!54R!C;VQL96=E<R!A
M;F0@<V]M92!F86UO=7,@;W9E<G-E87,@0VAI;F5S92!I;B!V87)I;W5S(&9I
M96QD<RX-"DUO<F4@=&AA;B`S,#`@0VAI;F5S92!S='5D96YT<R!W87)M;'D@
M=V5L8V]M960@<')E<VED96YT($UO=2!I;B!5;FEV97)S:71Y(&]F($-A;&EF
M;W)N:6$@870@3&]S($%N9V5L97,@;[log in to unmask]"X@5&AE(&UE971I;F<@
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M;F5S92!0<F%C=&EC92!O9B!+4$U'(%!E870@36%R=VEC:R!,3%`[($1E<F5D
M(%DN($9E;F<L('9I8V4@<')E<VED96YT(&]F($EN=F5S=&UE;G0@0F%N:VEN
M9R!O9B!486ME;F%K82`F($-O;7!A;GD[($IO<V5P:"!*+B!*;W4L($9I<G-T
M($-O;G1I;F5N=&%L($)A;FLG<R!V:6-E(&-H86ER;6%N(#L@86YD(&UA;GD@
M;W1H97)S+@T*2&4@=&%L:V5D('1O('1H96T@:6X@=&AE(&9A;6]U<R`X,#$@
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M:&5Y(&AA=F4@8F5E;B!A8FQE('1O('!E<F9O<FT@;W5T<W1A;F1I;F=L>2`@
M:6X@=&AE:7(@=V]R:RP@8G5T('1H96ER('-T86YD:6YG(&EN('1H92!H:65R
M87)C:'D@8V%N)W0@8F4@:&EG:&5R('1H86X@82`B9&5P=71Y('!R97-I9&5N
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M('=I=&@@3&%N9"!I;B!A;B!A;&PM<F]U;F0@=V%Y+B`@("`@("`@("`@*$QA
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M86QI<W0@;6%R:V5T(&5C;VYO;7D@=6YD97(@=&AE(&QE861E<G-H:7`@;V8@
M=&AE($-O;6UU;FES="!087)T>2!O9B!#:&EN82!A;F0@:&]W($QA;F0@:&%S
M(&AE;'!E9"!T<F%N<V9O<FT@4W1A=&4M;W=N960@96YT97)P<FES97,N(%1H
M92!H;W-T<R!E>'!R97-S960@=&AE:7(@:&]P92!T;R!C;V]P97)A=&4@=VET
M:"!,86YD(&EN('1H92!S='5D>2!O9B!!<VEA+5!A8VEF:6,@96-O;F]M>2X@
M3VYE(&1E<'5T>2!D:7)E8W1O<B!O9B!T:&4@0V5N=&5R(&-A;B=T(&AE;'`@
M<V%Y:6YG+"`B3&%N9"!A;F0@4F%N9"!A<F4@;V8@=&AE('-A;64@9F%M:71L
M>2XB(`T*5F5R>2!I;G1E<F5S=&5D(&EN('=H870@3&%N9"!I<R!D;VEN9RP@
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M:7)M86X@86YD(&=E;F5R86P@;6%N86=E<B!O9B!"87EE<B`H0VAI;F$I($QT
M9"X@(E=E(&-A;B!O;FQY('=E;&-O;64@<W5C:"!A('-T97`@86YD(&5X<&5C
M="!M;W)E('1O(&-O;64@:6X@=&AE(&9U='5R92XB(`T*5&%X(&EN8V5N=&EV
M97,@;6EG:'0@8V]N<W1I='5T92!A(&QI9F5L:6YE(&9O<B!S;6%L;&5R(&-O
M;7!A;FEE<RX@0F%Y97(@86YD(&]T:&5R(&UU;'1I;F%T:6]N86QS('=I;&P@
M8V5R=&%I;FQY('1A:V4@=&AE;2!I;G1O(&%C8V]U;G0L(&)U="!N;W0@=&\@
M:&5A<G0L(&AE('-A:60N(")792`H;75L=&EN871I;VYA;',I(&-A;64@=&\@
M0VAI;F$@;F]T(&9O<B!T:&%T+"!B=70@9F]R('1H92!M87)K970N(B`H0G5S
M:6YE<W,@5V5E:VQY*0T*(`T*#0H-"@T*=&\@<')O;6]T92`S+6-O;&]R(&%G
M<FEC=6QT=7)A;"!R979O;'5T:6]N#0H-"B!,86YD(&AO;&1S($-!34E3(`T*
M3VX@36%R8V@@,31T:"P@0VAI;F$@06=R:6-U;'1U<F%L($UI8W)O8F4@26YD
M=7-T<FEA;&EZ871I;VX@4V5M:6YA<B`H0T%-25,I('-P;VYS;W)E9"!B>2!,
M86YD($=R;W5P+"!W87,@:&5L9"!A="!,86YD($=R;W5P)W,@0F5I:FEN9R!H
M96%D<75A<G1E<G,N($ET<R!M86EN('!U<G!O<V4@(&ES('1O(&%P<&QY(&AI
M+71E8V@@=&\@=&AE(&1E=F5L;W!M96YT(&]F(&UI8W)O8FEA;"!R97-O=7)C
M97,L('1O(&5S=&%B;&ES:"`@(&UI8W)O;W)G86YI8R!I;F1U<W1R>2`H=VAI
M=&4@86=R:6-U;'1U<F4I(&%N9"!T;R!P<F]C965D('1O(')E86QI>F4@86X@
M97!O8V@M;6%K:6YG('1H<F5E+6-O;&]R(&%G<FEC=6QT=7)A;"!R979O;'5T
M:6]N(&)Y(&UA:VEN9R!N97<@=VAI=&4@86=R:6-U;'1U<F4@8V]E>&ES="!W
M:71H('1R861I=&EO;F%L(&=R965N(&%G<FEC=6QT=7)E(&%N9"!B;'5E(&%G
M<G5C=6QT=7)E("AM87)I;F4@;W)G86YI<VUS*2X-"B`@5VAI=&4@86=R:6-U
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M;V8@9G)E<VAW871E<B`@<F5S;W5R8V5S(&%N9"!T:&4@9&5T97)I;W)A=&EO
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M(`T*5&AE('-T<F%T96=I8R!C;VYC97!T:6]N(&]F("`@9&5V96QO<&EN9R!W
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M=&ET=71E+"!W87,@:6YV:71E9"!B>2!,86YD)W,@<')E<VED96YT($UO=2`@
M46EZ:&]N9R!T;R!P<F5S:61E(&]V97(@=&AE('-E;6EN87(N(%-I>"!E>'!E
M<G1S(&]F9F5R960@;6]N;V=R87!H:6,@;&5C='5R97,@87,@9F]L;&]W<SH@
M06=R:2U-:6-R;V)E($EN9'5S=')I86QI>F%T:6]N(&%N9"!7:&ET92!!9W)I
M8W5L='5R92!B>2!"86\@2FEA;GIH;VYG.R!-:6-R;V)E($9E960[($UI8W)O
M8F4@1F5R=&EL:7IE<CL@16YV:7)O;FUE;G1A;"!-:6-R;V)E.R!-;V-R;V)E
M($-H96UI8V%L(&%N9"!&;V]D($9U;F=U<R!A;F0@5VAI=&4@06=R:6-U;'1U
M<F4N("!-;W)E('1H86X@,C`@97AP97)T<R!A;F0@<V-H;VQA<G,@9G)O;2!C
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M9R!"87-E#0I7:71H('1H92!I;7!L96UE;G1A=&EO;B!O9B`S,C4@5&%L96YT
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M=&\@3&%N9"=S('1R86EN:6YG(&)A<V4@86-C;VUM;V1A=&EN9R`R,#`@('!E
M<G-O;G,N("`@("`@("`@("`@("`@("`@("`@("`H3&%N9"!6:65W*0T*#0I#
M2$E.02=3($E.5D535$U%3E0@3U!03U)454Y)5$E%4PT*#0I/=F5R<V5A<R!I
M;G9E<W1M96YT(&EN(&9A<FUI;F<@96YC;W5R86=E9`T*(E-U<'!O<G0@86YD
M(&AE;'`B('=I;&P@8F4@9VEV96X@8GD@=&AE($-H:6YE<V4@9V]V97)N;65N
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M=&5D(&9R;VT@)#4N.#@@8FEL;&EO;B!I;B!O=F5R<V5A<R!F=6YD<RP@=7`@
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M(&%N9"!T96-H;F]L;V=Y('=O=6QD(&%C8V]U;G0@9F]R(&UO<F4@=&AA;B`U
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M;65R<R<@:6YC;VUE+B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("A8
M:6YH=6$I("`-"@T*)#,S,&T@9F]R(&9A<FT@<')O:F5C=',-"@T*5&AE($-H
M:6YE<V4@9V]V97)N;65N="!H87,@<VEG;F5D(&YU;65R;W5S(&YE=R!T<F%D
M92!A;F0@:6YV97-T;65N="!A9W)E96UE;G1S('=I=&@@9F]R96EG;B!F:7)M
M<R!F;W(@,C@@86=R:6-U;'1U<F%L('!R;VIE8W1S+@T*5&AE($-H:6YA($%G
M<F\M0G5S:6YE<W,@)SDV(&%N9"!);G9E<W1M96YT(&%N9"!4<F%D92!2;W5N
M9"!486)L92!F:6YI<VAE9"!I;B!"96EJ:6YG(&]N($%P<FEL(#(Q+"!C;VQL
M96-T:6YG(&1E86QS('=O<G1H(&UO<F4@=&AA;B`D,S,P(&UI;&QI;VXL('1H
M92!L87)G97-T(&%M;W5N="!E=F5R(&EN('1H92!A9W)I8W5L='5R92!S96-T
M;W(N($QE='1E<G,@;V8@:6YT96YT('=E<F4@:6YI=&EA;&5D(&9O<B!A;F]T
M:&5R(#(Y(&-O+6]P97)A=&EV92!P<F]J96-T<R!W;W)T:"`D,30P(&UI;&QI
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M('!R;VIE8W1S('-I9VYE9"!O;B!!<')I;"`R,2P@<V%Y:6YG('1H870@=&AE
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M=F5D('-E961S(&EN=&\@0VAI;F$N("`@("`@("`@("`@("`@*%AI;FAU82D-
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M9B!W:&EC:"!A<F4@,34P(&)I;&QI;VX@8W5B:6,@;65T97)S(&%N9"`Q-C`@
M8FEL;&EO;B!C=6)I8R!M971E<G,@<F5S<&5C=&EV96QY+@T*4V%L="!'<F]U
M<"P@=VET:"`D-#(@;6EL;&EO;B!A<W-E=',L("!I<R!A(&-O;F=L;VUE<F%T
M92P@:6YT96=R871I;F<@<V%L="UP<F]D=6-I;F<L(&-H96UI8V%L(&EN9'5S
M=')Y+"!T;W5R:7-M+"!B=6EL9&EN9R!I;F1U<W1R>2!A;F0@=')A9&4N#0I"
M96EJ:6YG(')E<VED96YT<R!A8W1I=F4@:6X@96-O;F]M>0T*02!F86UI;'D@
M;V8@(&9O=7(@<&5O<&QE(&QI=FEN9R!I;B!S;W5T:&5R;B!"96EJ:6YG(&9O
M<B!T:&4@9FER<W0@=&EM92!B;W5G:'0@,3`L,#`P('EU86X@*"0Q+#(P-2D@
M:6X@:&%L9BUY96%R(&1I<V-O=6YT('1R96%S=7)Y(&)O;F1S(&IU<W0@8F5F
M;W)E('1H92!3<')I;F<@1F5S=&EV86P@=VAI8V@@9F5L;"!O;B!&96(N(#$Y
M+@T*06-C;W)D:6YG('1O(&$@;F5W<W!A<&5R(')E<&]R="P@=&AE('-I='5A
M=&EO;B!O9B!T:&ES(&9A;6EL>2!I<R!T>7!I8V%L(&%M;VYG(&ET<R`S(&UI
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M96EJ:6YG(')E86-H960@,3(U+C,Y(&)I;&QI;VX@>75A;B`H)#$U(&)I;&QI
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M+B`@3F]W(&%S(&UA;GD@87,@,S`P+#`P,"!"96EJ:6YG(')E<VED96YT<R!E
M;F=A9V4@:6X@=&AE('-T;V-K('1R861E+B!3:&%R92!T<F%N<V%C=&EO;G,@
M:6X@=&AE(&-I='D@<F5A8VAE9"`D-38V(&UI;&QI;VX@:6X@,3DY-2!W:&EL
M92!T<F%N<V%C=&EO;G,@:6X@,3DY,"!W97)E(&%L;6]S="!Z97)O+B`@("`@
M("`@("`@("`@("A#:&EN82!$86EL>2D-"D)2245&4PT*5'5M96X@9&5L=&$@
M8V\M;W!E<F%T:6]N#0I!('-P96-I86P@=')U<W0@9G5N9"!I<R!T;R!B92!S
M970@=7`@=&\@<W!U<B!O;B!T:&4@96-O;F]M:6,@9&5V96QO<&UE;G0@;V8@
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M<R!P<F]G<F5S<R!O;B!T:&4@9&5L=&$N#0I-;W)E('1H86X@-S`P(&9O<F5I
M9VXM9G5N9&5D(&9I<FUS(&%N9"!J;VEN="!V96YT=7)E<R!I;G9O;'9I;F<@
M82!T;W1A;"`D,S`P(&UI;&QI;VX@:6YV97-T;65N="!H879E(&)E96X@<V5T
M('5P('1H97)E+B`@("`@("A#:&EN82!$86EL>2D-"EEA;F=P=2!T86ME+6]F
M9@T*0F5T=&5R(&EN9G)A<W1R=6-T=7)E(&ES(&)R:6YG:6YG(&UO<F4@:6YV
M97-T;65N="!P<F]J96-T<R!T;R!T:&4@66%N9W!U($5C;VYO;6EC($1E=F5L
M;W!M96YT(%IO;F4@:6X@4V]U=&@@0VAI;F$G<R!(86EN86X@4')O=FEN8V4N
M(%1H92!P<F]J96-T<R!I;F-L=61E(&$@)#$N,BUB:6QL:6]N(&9E<G1I;&EZ
M97(@<&QA;G0@86YD("0Q.3(M;6EL;&EO;B!S=&5E;"!M:6QL+"!W:&EC:"!A
M<F4@97AP96-T960@=&\@8F4@;W!E<F%T:6]N86P@<V]O;BX-"FQO8V%L(&]F
M9FEC:6%L<R!S86ED('1H:7,@>65A<B!T:&4@>F]N92!W:6QL(&UE970@=&AE
M('1A<F=E="!O9B!I;G1R;V1U8VEN9R!P<F]J96-T<R!W:71H('1O=&%L(&EN
M=F5S=&UE;G0@97AC965D:6YG("0U(&)I;&QI;VXL(&UO<F4@=&AA;B`D,S`Q
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M=&AE<F4N("`@*$)U<VEN97-S(%=E96ML>2D@#0I486EW86X@;&EN:W,-"D9U
M>FAO=2P@=&AE(&-A<&ET86P@;V8@16%S="!#:&EN82=S($9U:FEA;B!0<F]V
M:6YC92!I<R!P;&%N;FEN9R!A(&UA<W-I=F4@<W!E;F1I;F<@<W!R964@=&\@
M<&%V92!T:&4@=V%Y(&9O<B!N96EG:&)O<FQY(&QI;FMS('=I=&@@5&%I=V%N
M+@T*5&AE('!R;W9I;F-E(&ES('1O(&EN=F5S="`D,RXS(&)I;&QI;VX@=&\@
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M+"!H:6=H=V%Y<R!A;F0@97AP<F5S<W=A>7,N("`@("`H0G5S:6YE<W,@5V5E
M:VQY*0T*4W5Z:&]U($YE=R!$:7-T<FEC=`T*4W5Z:&]U($YE=R!$:7-T<FEC
M="P@;&]C871E9"!I;B!T:&4@=V5S=&5R;B!P87)T(&]F(%-U>FAO=2P@16%S
M="!#:&EN82=S($II86YG<W4@4')O=FEN8V4L(&%N9"!A8F]U="`Y,"!K:6QO
M;65T97)S(&9R;VT@4VAA;F=H86DL($-H:6YA)W,@8FEG9V5S="!C:71Y+"!H
M87,@<&]U<F5D("0R-#`@;6EL;&EO;B!I;G1O(&EN9G)A<W1R=6-T=7)E('-I
M;F-E(&ET('=A<R!K:6-K960@;V9F(&EN(#$Y.3$@86YD(&-O;7!L971E9"!I
M;F9R87-T<G5C='5R92!C;VYS=')U8W1I;VX@;VX@86X@87)E82!O9B`Q."!S
M<75A<F4@:VEL;VUE=&5R<RP@86=A:6YS="!I=',@<')O:F5C=&5D(&-O=F5R
M86=E(&]F(#(U('-Q=6%R92!K:6QO;65T97)S(&)Y('1H92!Y96%R(#(P,#`N
M#0I4:&]S92!I;G9E<W1M96YT<R!H879E(&AE;'!E9"!S96-U<F4@82!T;W1A
M;"!O9B`D,BXU(&)I;&QI;VX@:6X@:6YV97-T;65N="!F<F]M(&UO<F4@=&AA
M;B`R,S`@;W9E<G-E87,M9G5N9&5D('!R;VIE8W1S+"!A<R!W96QL(&%S(&UO
M<F4@=&AA;B`R,"!L87)G92!P<F]J96-T<R!B>2!I;G9E<W1O<G,@9G)O;2!O
M=&AE<B!P87)T<R!O9B!#:&EN82X@36]R92!T:&%N(#4P(&EN=&5R;F%T:6]N
M86P@8V]N9VQO;65R871E<R!H879E(&EN=F5S=&5D(&EN('1H92!D:7-T<FEC
M="X@("`@("`@("`@("`@("A"=7-I;F5S<R!7965K;'DI#0I&=7-H=6X@96-O
M;F]M:6,@>F]N90T*17-T86)L:7-H960@:6X@,3DY,RP@1G5S:'5N($5C;VYO
M;6EC($1E=F5L;W!M96YT(%IO;F4L($YO<G1H96%S="!#:&EN82=S($QI86]N
M:6YG(%!R;W9I;F-E+"!H87,@87!P<F][log in to unmask]@@9F]R96EG;BUF=6YD960@
M9FER;7,L(&9R;VT@=&AE(%5N:71E9"!3=&%T97,L($=E<FUA;GDL($IA<&%N
M(&%N9"!3;W5T:"!+;W)E82P@:6YV;VQV:6YG(&$@=&]T86P@;V8@)#$V,"!M
M:6QL:6]N(&EN(&EN=F5S=&UE;G0L(&%M;VYG('=H:6-H("0V-BXY-B!M:6QL
M:6]N(&AA<R!B965N('5S960N#0I!8V-O<F1I;F<@=&\@=&AE(&1I<F5C=&]R
M(&]F('1H92!Z;VYE)W,@;6%N86=E;65N="!C;VUM:71T964L(#(S(&9O<F5I
M9VXM9G5N9&5D(&5N=&5R<')I<V5S('=E<F4@97-T86)L:7-H960@;&%S="!Y
M96%R(&EN('1H92!Z;VYE('=I=&@@82!T;W1A;"!I;G9E<W1M96YT(&]F("0U
M,RXV(&UI;&QI;VXL("0Q.2XT(&UI;&QI;VX@;V8@=VAI8V@@=V%S(&9O<F5I
M9VX@:6YV97-T;65N="X@#0I&=7-H=6XL(&$@<&]W97)H;W5S92!I;B!C;V%L
M+"!G87,L(&UA8VAI;F5R>2P@96QE8W1R:6-I='D@86YD(&-H96UI8V%L(&EN
M9'5S=')Y+"!I<R!P<F]V:61I;F<@<W1R;VYG(&)A8VMI;F<@=&\@=&AE('IO
M;F4@86YD(&AA<R!A='1R86-T960@)#@S+C8@;6EL;&EO;B!I;B!I;G9E<W1M
M96YT(&9R;VT@86)R;V%D+"!L:69T:6YG(&ET<R!T;W1A;"!F;W)E:6=N(&-A
M<&ET86P@:6YF;&]W('1O("0U,#`@;6EL;&EO;BX@*$)U<VEN97-S(%=E96ML
1>2D-"B`@(`T*#0H-"@T*#0H
`
end
<---- End Attached File ---->
|
