9LSIRUVLGHQDIILOWHUHWOHWQHGDGRJ
WU¨N
*HQWDJGHIºUVWHWRWULQS§DOOHILOWUHQH
5HQJºUILOWUHQHPHGHQVYDPSPHGLNNH
VNXUUHQGHUHQJºULQJVPLGOHUHOOHUL
RSYDVNHPDVNLQHQ
2SYDVNHPDVNLQHQVNDOY¨UH
LQGVWLOOHWWLOODYHWHPSHUDWXUHURJ
HQNRUWF\NOXV)HGWILOWHUHWNDQ
EOLYHPLVIDUYHWPHQGHWKDU
LQJHQLQGYLUNQLQJS§ILOWHUHWV
\GHHYQH
)LOWUHQHPRQWHUHVLJHQYHGDWPDQIºOJHU
GHIºUVWHWRWULQLRPYHQGWU¨NNHIºOJH
*HQWDJGHWWHS§DOOHGHILOWUHKYRUGHWHU
UHOHYDQW
8GVNLIWQLQJDINXOILOWHUYDOJIULW
$'9$56(/
.XOILOWHUHWNDQ,..(YDVNHV
)LOWHUHWNDQLNNHJHQEUXJHV
8GVNLIWQLQJDINXOILOWHU
)MHUQIHGWILOWUHQHIUDDSSDUDWHW
6HDIVQLWWHW5HQJºULQJDIIHGWILOWHUHW
'UHMILOWHUHWPRGXUHWRJWU¨N
1
2
)LOWUHQHPRQWHUHVLJHQYHGDWPDQIºOJHU
WULQQHQHLRPYHQGWU¨NNHIºOJH
'HWHUXQGHUDOOHRPVW¨QGLJKHGHU
QºGYHQGLJWDWXGVNLIWHILOWUHQHPLQGVWKYHU
IMHUGHP§QHG
8GVNLIWQLQJDIS¨UHQ
'HWWHDSSDUDWOHYHUHVPHGHQ/('ODPSHRJ
VHSDUDWNRQWUROXGVW\U/('GULYHU'LVVH
GHOHP§NXQXGVNLIWHVDIHQWHNQLNHU9HG
IXQNWLRQVIHMOIºOJHV6HUYLFHLNDSLWOHW
6LNNHUKHGVYHMOHGQLQJ
0,/-+(16<1
*HQEUXJPDWHULDOHUPHGV\PEROHW
$QEULQJHPEDOODJHPDWHULDOHWLSDVVHQGH
EHKROGHUHWLOJHQEUXJ+M¨OSPHGDWEHVN\WWH
PLOMºHWRJPHQQHVNHOLJVXQGKHGVDPWDW
JHQEUXJHDIIDOGDIHOHNWULVNHRJHOHNWURQLVNH
DSSDUDWHU.DVVHULNNHDSSDUDWHUGHUHU
P¨UNHWPHGV\PEROHW VDPPHQPHG
KXVKROGQLQJVDIIDOGHW/HYHUSURGXNWHWWLOEDJH
WLOGLQORNDOHJHQEUXJVSODGVHOOHUNRQWDNWGLQ
NRPPXQH
'$16.