ࡱ> '`bjbj{P{P.$::%  |> X  rvrvrv8vnwd D2x{{{{{@4oqqqqqq$vhަRi 0{{00 {{BBB0 { {oB0oBBכh {x `Klrv?0DO00 0 00B00000B000D0000 7nB4 nB  3;02;5=85  TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc262017587" 2545=85  PAGEREF _Toc262017587 \h 4  HYPERLINK \l "_Toc262017588" ;020 1. "5>@5B8G5A:85 273;O4K =0 ?>=OB8O <>B820F88 8 :@878A=KE O2;5=89  PAGEREF _Toc262017588 \h 7  HYPERLINK \l "_Toc262017589" 1.1. "5>@88 <>B820F88 8 8E <5AB> 2 <5=546<5=B5 >@30=870F88  PAGEREF _Toc262017589 \h 7  HYPERLINK \l "_Toc262017590" 1.2. A=>2=K5 ?@>1;5<K <>B820F88 8 AB8<C;8@>20=8O ?5@A>=0;0. $C=:F88 8 284K M:>=><8G5A:>9 <>B820F88  PAGEREF _Toc262017590 \h 14  HYPERLINK \l "_Toc262017591" 1.3. >=OB85 M:>=><8G5A:>3> :@878A0, 53> A?5F8D8:0 2 $. 5<>B820F8O, :0: A;54AB285 :@878A=KE O2;5=89  PAGEREF _Toc262017591 \h 21  HYPERLINK \l "_Toc262017592" K2>4K : 1 3;025  PAGEREF _Toc262017592 \h 29  HYPERLINK \l "_Toc262017593" ;020 2. =0;87 ?@>3@0<< <0B5@80;L=>9 <>B820F88 2 ?5@8>4 :@878A0 =0 ?@8<5@5   PAGEREF _Toc262017593 \h 31  HYPERLINK \l "_Toc262017594" 2.1. @0B:0O E0@0:B5@8AB8:0 ?@54?@8OB8O  PAGEREF _Toc262017594 \h 31  HYPERLINK \l "_Toc262017595" 2.2. =0;87 <0B5@80;L=>9 <>B820F88 2   PAGEREF _Toc262017595 \h 37  HYPERLINK \l "_Toc262017596" 2.3. @0:B8:0 ?@8<5=5=8O 8 >F5=:0 MDD5:B82=>AB8 8 <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88 (2KO2;5=85 =54>AB0B:>2)  PAGEREF _Toc262017596 \h 47  HYPERLINK \l "_Toc262017597" K2>4K : 2 3;025  PAGEREF _Toc262017597 \h 56  HYPERLINK \l "_Toc262017598" ;020 3. K@01>B:0 @5:><5=40F89 ?> 040?B0F88 ?@>3@0<< <0B5@80;L=>9 <>B820F88 2  : CA;>28O< :@878A0  PAGEREF _Toc262017598 \h 58  HYPERLINK \l "_Toc262017599" 3.1. K@01>B:0 @5:><5=40F89 ?> A>25@H5=AB2>20=8N <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88  PAGEREF _Toc262017599 \h 58  HYPERLINK \l "_Toc262017600" 3.2. F5=:0 MDD5:B82=>AB8 ?@54;>65==KE <5@>?@8OB89  PAGEREF _Toc262017600 \h 70  HYPERLINK \l "_Toc262017601" K2>4K : 3 3;025  PAGEREF _Toc262017601 \h 75  HYPERLINK \l "_Toc262017602" 0:;NG5=85  PAGEREF _Toc262017602 \h 76  HYPERLINK \l "_Toc262017603" !?8A>: 8A?>;L7>20==>9 ;8B5@0BC@K  PAGEREF _Toc262017603 \h 79  HYPERLINK \l "_Toc262017604" @8;>65=8O  PAGEREF _Toc262017604 \h 83  2545=85 :BC0;L=>ABL B5<K 40==>9 2K?CA:=>9 :20;8D8:0F8>==>9 @01>BK >1CA;>2;5=0 B5<, GB> <>B820F8O ?5@A>=0;0 2 =0AB>OI55 2@5<O O2;O5BAO >4=>9 87 206=59H8E :04@>2KE ?@>1;5<. 08=B5@5A>20==>ABL A>B@C4=8:>2 2 @57C;LB0B5 8E 45OB5;L=>AB8 >?@545;O5B M:>=><8G5A:>5 8 A>F80;L=>5 74>@>2L5 D8@<K-@01>B>40B5;O, 2;8O5B =0 C4>2;5B2>@5==>ABL A2>59 @01>B>9 A0<>3> ?5@A>=0;0. >;LH8=AB2> B5>@5B8:>2 A8AB5< <>B820F88 ?@8E>48;8 : 2K2>4C, GB> B>;L:> <>B820F8O =0 @57C;LB0B, O2;O5BAO A>25@H5==>9 A8AB5<>9, B.:. >1>A=>2K205B 187=5AC 2K?;0BK 2>7=03@0645=89, 0 A>B@C4=8:0< 405B 2>7<>6=>ABL ?>;CG0BL 8 C25;8G820BL 4>E>4 2 G5B:>9 7028A8<>AB8 : ?@8;>65==K< CA8;8O<. =0=85 D0:B>@>2 <>B820F88 @01>B=8:0 O2;O5BAO 4;O @C:>2>48B5;O >A=>2>?>;030NI8<, ?>A:>;L:C 8<5==> A>>B=>H5=85 2=CB@5==8E 8 2=5H=8E D0:B>@>2 <>B820F88 O2;O5BAO >A=>2>9 4;O A>3;0A>20=8O 8=B5@5A>2 A>B@C4=8:0 8 :><?0=88, @07@01>B:8 A8AB5<K <>B820F88 4;O =53>. !CI5AB2C5B <=>65AB2> >?@545;5=89 ?>=OB8O <>B820F88 ?5@A>=0;0, 53> G0AB> B0:65 ?>4<5=ONB ?>=OB85< AB8<C;8@>20=8O.  @>AA89A:>9 8 A>25BA:>9 ;8B5@0BC@5 2A5340 @0745;O;8 ?>=OB8O: AB8<C;8@>20=85 8 <>B820F8O.  ?5@2>< A;CG05 3>2>@8;8 > <>B820F88 B@C4>2>3> ?>2545=8O, 2> 2B>@><  > <>B820F88 2>>1I5.  70?04=>9 ;8B5@0BC@5 B0:>3> 45;5=8O =5 ACI5AB2C5B, 2 70?04=KE 8AB>G=8:0E ?@8 B@C4>2>< ?>2545=88 8;8 2 >1KG=>9 687=8 2A5340 8<5NB 2 284C B>;L:> <>B820F8N. >B820F8O  A>2>:C?=>ABL ?@>F5AA>2, :>B>@K5 ?>1C640NB, =0?@02;ONB 8 ?>445@6820NB ?>2545=85 G5;>25:0 2 =0?@02;5=88 4>AB865=88 >?@545;5==>9 F5;8. !>25@H5=AB2>20=85 <5E0=87<0 C?@02;5=8O M:>=><8G5A:>9 <>B820F859 ?5@A>=0;0 70=8<05B >A>1>5 <5AB> 2 @O4C ?@>1;5< C?@02;5=8O ?5@A>=0;>< 2 CA;>28OE :@878A0. 5>1E>48<>ABL B0:>3> A>25@H5=AB2>20=8O >1CA;>2;5=0 A8BC0F859 <8@>2>3> D8=0=A>2>-M:>=><8G5A:>3> :@878A0, 2 @57C;LB0B5 :>B>@>3> <=>385 ?@54?@8OB8O AB>;:=C;8AL A ?@>1;5<>9 A>:@0I5=8O ?5@A>=0;0, C<5=LH5=8O 70@01>B=>9 ?;0BK, 8, :0: A;54AB285, ?@>1;5<>9 45<>B820F88 ?5@A>=0;0. 0=:>2A:0O AD5@0 A@548 ?@>G8E >B@0A;59 =5?@>872>4AB25==>9 AD5@K M:>=><8:8 2 1>;LH59 AB5?5=8 ?>425@65=0 2>7459AB28N 2=5H=8E D0:B>@>2.  MB>< A<KA;5 2;8O=85 3;>10;L=>3> D8=0=A>2>3> :@878A0 =0 <8@>2CN 10=:>2A:CN A8AB5<C =5 O2;O5BAO 8A:;NG5=85<, 8, :>=5G=>, 1>;LH8=AB2> A?5F80;8AB>2 3>2>@OB > =530B82=KE ?>A;54AB28OE =5AB018;L=>AB8 <8@>2>9 M:>=><8:8 4;O 40;L=59H53> @0728B8O 10=:>2A:>3> 187=5A0. > A>>1I5=8O< =B5@D0:A, 2 >AA88 87-70 <8@>2>3> D8=0=A>2>3> :@878A0 70:@K;8AL <=>385 10=:8, 8 ?@>8AE>48B :>=A>;840F8O 10=:>2A:>3> A5:B>@0. "5 65 10=:8, :>B>@K5 >AB0;8AL =0?;02C, A>:@0I0NB HB0B @01>B=8:>2, 2 A@54=5< =0 ?OB=04F0BL ?@>F5=B>2.  &5;LN 40==>9 2K?CA:=>9 :20;8D8:0F8>==>9 @01>BK O2;O5BAO 0=0;87 C?@02;5=8O M:>=><8G5A:>9 <>B820F859 ?5@A>=0;0 2 CA;>28OE :@878A0 =0 ?@8<5@5   . 040G8 8AA;54>20=8O: >E0@0:B5@87>20BL B5>@88 <>B820F88 8 8E <5AB> 2 <5=546<5=B5 >@30=870F88; ?@>0=0;878@>20BL >A=>2=K5 ?@>1;5<K <>B820F88 8 AB8<C;8@>20=8O ?5@A>=0;0, 0 B0:65 DC=:F88 8 284K M:>=><8G5A:>9 <>B820F88; 40BL ?>=OB85 M:>=><8G5A:>3> :@878A0, 53> A?5F8D8:0 2 $, 0 B0:65 45<>B820F88, :0: A;54AB28O :@878A=KE O2;5=89; 40BL :@0B:CN E0@0:B5@8AB8:C  ; ?@>25AB8 0=0;87 <0B5@80;L=>9 <>B820F88 2  ; >E0@0:B5@87>20BL ?@0:B8:C ?@8<5=5=8O 8 40BL >F5=:C MDD5:B82=>AB8 8 <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88 (2KO2;5=85 =54>AB0B:>2); 2K@01>B0BL @5:><5=40F88 ?> A>25@H5=AB2>20=8N <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88; 40BL >F5=:C MDD5:B82=>AB8 ?@54;>65==KE <5@>?@8OB89. @54<5B 8AA;54>20=8O  M:>=><8G5A:0O <>B820F8O B@C40 ?5@A>=0;0. 1J5:B>< 8AA;54>20=8O O2;O5BAO  . =D>@<0F8>==0O 1070 8AA;54>20=8O ?@54AB02;5=0 =0CG=K<8 B@C40<8 ?> <5=546<5=BC, C?@02;5=8N ?5@A>=0;><, 0=0;87C B@C4>2KE @5AC@A>2, 10=:>2A:><C 45;C, >B@0A;52><C 0=0;87C, <0B5@80;0<8, >?C1;8:>20==K<8 2 ?5@8>48G5A:8E =0CG=KE 8740=8OE, 0 B0:65 @07<5I5==KE =0 A>>B25BAB2CNI8E B5<0B8G5A:8E 8=B5@=5B-A09B0E, 0 B0:65 2=CB@5==OO >BG5B=>ABL  : 40==K5 1CE30;B5@A:>9 >BG5B=>AB8, 2=CB@5==85 @53;0<5=BK  , 40==K5 :04@>2>9 4>:C<5=B0F88. @0:B8G5A:0O 7=0G8<>ABL @01>BK 2K@0605BAO 2 2>7<>6=>AB8 8A?>;L7>20=8O ?@54;>65==KE @5:><5=40F89 2 ?@0:B8:5 45OB5;L=>AB8  , GB> ?>72>;8B 10=:C ?>2KA8BL MDD5:B82=>ABL C?@02;5=8O ?5@A>=0;>< 2 CA;>28OE :@878A0, 0 B0:65 =0 ?@0:B8:5 ;N1>3> :><<5@G5A:>3> 10=:0. >AB02;5==K5 7040G8 0=0;870 ?@54>?@545;8;8 AB@C:BC@C 2K?CA:=>9 :20;8D8:0F8>==>9 @01>BK, A>AB>OI59 87 22545=8O, B@5E 3;02, 70:;NG5=8O, A?8A:0 8A?>;L7>20==>9 ;8B5@0BC@K 8 ?@8;>65=89. ;020 1. "5>@5B8G5A:85 273;O4K =0 ?>=OB8O <>B820F88 8 :@878A=KE O2;5=89 1.1. "5>@88 <>B820F88 8 8E <5AB> 2 <5=546<5=B5 >@30=870F88 57 C?@02;5=8O ;N4L<8 =5 <>65B ACI5AB2>20BL =8 >4=0 >@30=870F8O. 57 :20;8D8F8@>20==KE :04@>2 >@30=870F8O =5 A<>65B 4>AB8GL A2>8E F5;59. @O4 ;8 >A?>@8< B>B D0:B, GB> 4>E>4K ;N1>9 D8@<K 2 ?5@2CN >G5@54L 7028AOB >B B>3>, =0A:>;L:> ?@>D5AA8>=0;L=> @01>B0NB 2 =59 A?5F80;8ABK. #?@02;5=85 ?5@A>=0;>< =0?@02;5=> =0 4>AB865=85 MDD5:B82=>9 45OB5;L=>AB8 >@30=870F88 8 A?@0254;82>AB8 2708<>>B=>H5=89 <564C @01>B=8:0<8. 81:0O >@30=870F8O B@C40, A0<>>@30=870F8O @01>B=8:0 8 3@C?? B@C4OI8EAO, 8E A>7=0B5;L=>5 CG0AB85 =5 B>;L:> 2 ?@>872>4AB25==>< ?@>F5AA5, => 8 2 C?@02;5=88 ?@>872>4AB2>< AB0=>28BAO >B?@02=>9 B>G:>9 A>740=8O A8AB5< C?@02;5=8O G5;>25G5A:8<8 @5AC@A0<8.  #?@02;5=85 ?5@A>=0;>< 2:;NG05B <=>385 A>AB02;ONI85. !@548 =8E: :04@>20O ?>;8B8:0, 2708<>>B=>H5=8O 2 :>;;5:B825, A>F80;L=>-?A8E>;>38G5A:85 0A?5:BK C?@02;5=8O. ;NG52>5 65 <5AB> 70=8<05B >?@545;5=85 A?>A>1>2 ?>2KH5=8O ?@>872>48B5;L=>AB8, ?CB59 @>AB0 B2>@G5A:>9 8=8F80B82K, 0 B0: 65 AB8<C;8@>20=85 8 <>B820F8O @01>B=8:>2. >B820F8O - MB> 45OB5;L=>ABL, 8<5NI0O F5;LN 0:B82878@>20BL ;N459, @01>B0NI8E 2 >@30=870F88, 8 ?>1C48BL 8E MDD5:B82=> B@C48BLAO 4;O 2K?>;=5=8O F5;59, ?>AB02;5==KE 2 ?;0=0E. A5 >@30=870F88 >701>G5=K 2>?@>A><, GB> A;54C5B 45;0BL 4;O B>3>, GB>1K ?>;CG8BL CAB>9G82K9 2KA>:89 C@>25=L ?>:070B5;59 @01>BK A2>8E A>B@C4=8:>2. -B> >7=0G05B, GB> =5>1E>48<> C45;OBL ?@8AB0;L=>5 2=8<0=85 B><C, :0: <>6=> <>B828@>20BL 8=48284CC<0 ?@8 ?><>I8 AB8<C;>2, 2>7=03@0645=89, @C:>2>4AB20 8, GB> >A>15==> 206=>, B>9 @01>BK, :>B>@CN >= 2K?>;=O5B 8 B>9 >@30=870F8>==>9 A@54K, 2 :>B>@>9 >= MB> 45;05B. !>3;0A=> 4>:B@8=5 G5;>25G5A:>3> :0?8B0;0 ;N48 O2;ONBAO 3;02=>9 F5==>ABLN :><?0=88. >4 G5;>25G5A:8< :0?8B0;>< :><?0=88 ?>4@07C<5205BAO A>2>:C?=>ABL 53> ?>AB>O==KE A>B@C4=8:>2. 0B53>@8O <>B820F8O O2;O5BAO >4=>9 87 :;NG52KE 2 =0C:5 8 ?@0:B8:5 C?@02;5=8O 2 A>>B25BAB288 A A>2@5<5==>9 4>:B@8=>9 C?@02;5=8O G5;>25G5A:8< :0?8B0;><. -B> >1CA;>2;5=> B5<, GB> ;N1>9 @C:>2>48B5;L AB>8B ?5@54 A0<K<8 682>B@5?5ICI8<8 2>?@>A0<8: :0: C?@02;OBL 225@5==K< >1J5:B><, :0:>9 0@A5=0; C?@02;5=G5A:8E AB@0B5389, @KG03>2 8 B5E=>;>389 8A?>;L7>20BL, GB>1K MDD5:B82=> @5H0BL AB>OI85 ?5@54 =8< 7040G8.  B=>H5=85 G5;>25:0 : @01>B5 =5 >3@0=8G8205BAO B5<8 2>7<>6=>ABO<8, :>B>@K5 >= ?@8 MB>< ?>;CG05B 4;O C4>2;5B2>@5=8O A2>8E 206=59H8E 18>;>38G5A:8E ?>B@51=>AB59: 2 ?8I5, >45645, :@KH5 =04 3>;>2>9 8 4@. # G5;>25:0 2 ?@>F5AA5 687=8 >1@07C5BAO 4>AB0B>G=> 1>;LH>9 =01>@ ?>B@51=>AB59, A2O70==KE A 687=LN 2 >1I5AB25, :>B>@K5 4>?>;=ONB 18>;>38G5A:85 8 =0 :>B>@K5 <>65B >@85=B8@>20BLAO A8AB5<0 <>@0;L=>3> AB8<C;8@>20=8O.  ?5@2CN >G5@54L MB>: ?>B@51=>ABL 2 A0<>C2065=88, ?>B@51=>ABL 2 A?@0254;82>< ?@87=0=88, ?>B@51=>ABL 2 A0<>@50;870F88, ?>B@51=>ABL 2> 2=8<0=88 8 701>B5 A> AB>@>=K 04<8=8AB@0F88, ?>B@51=>ABL 2 4>AB865=88 CA?5E0, 65;0=85 2845BL A2>9 2:;04 2 >1I5< @57C;LB0B5 8 4@.  >B82  MB> ?@8G8=0 4;O B>3>, GB>1K GB>-B> A45;0BL. >B820F8O A2O70=0 A D0:B>@0<8, :>B>@K5 70AB02;ONB ;N459 25AB8 A51O >?@545;5==K< >1@07><.  K45;ONB A;54CNI85 284K <>B82>2: & & & .. 8A. 1.1. 5@0@E8O ?>B@51=>AB59 . 0A;>C >2545=85 ;8G=>AB8 >1KG=> =0?@02;O5BAO 53> =081>;55 A8;L=>9 2 40==K9 <><5=B ?>B@51=>ABLN. > <5@5 B>3>, :0: ?@>8AE>48B 4>AB0B>G=>5 C4>2;5B2>@5=85 =86=53> C@>2=O ?>B@51=>AB59, =0G8=05B 4><8=8@>20BL 1>;55 2KA>:0O 3@C??0 ?>B@51=>AB59 ! B>G:8 7@5=8O 0A;>C, <>B820<8 ?>ABC?:>2 ;N459 O2;ONBAO 2 >A=>2=>< =5 M:>=><8G5A:85 D0:B>@K, 0 @07;8G=K5 ?>B@51=>AB8, :>B>@K5 40;5:> =5 2A5340 <>3CB 1KBL C4>2;5B2>@5=K A ?><>ILN 45=53. BAN40 >= 45;0; 2K2>4 > B><, GB> ?> <5@5 C4>2;5B2>@5=8O ?>B@51=>AB59 @01>B=8:>2 1C45B 2>7@0AB0BL 8 ?@>872>48B5;L=>ABL B@C40. >=F5?F8O 0A;>C >:070;0 1>;LH>5 2;8O=85 =0 @0728B85 B5>@88 8 ?@0:B8:8 A>2@5<5==>3> C?@02;5=8O. 0728B85 2 ?>A;52>5==K5 3>4K B0:8E =0C:, :0: ?A8E>;>38O 8 A>F8>;>38O, 0 B0:65 A>25@H5=AB2>20=85 <5B>4>2 8AA;54>20=8O ?>AB028;> 87CG5=85 ?>2545=8O @01>B=8:0 =0 53> @01>G5< <5AB5 =0 =0CG=CN >A=>2C, MB> 2K720;> : 687=8 @0728B85 H:>;K ?>2545=G5A:8E =0C:. (:>;0 ?>2545=G5A:8E =0C: >A=>2=>5 2=8<0=85 =0?@028;0 =0 87CG5=85 <56;8G=>AB=KE >B=>H5=89, <>B820F88, E0@0:B5@0 2;0AB8 8 02B>@8B5B0, ;845@AB20, >@30=870F8>==>9 AB@C:BC@K, :><<C=8:0F89 2 >@30=870F88, 87<5=5=8O A>45@60=8O @01>BK 8 :0G5AB20 B@C4>2>9 687=8. (:>;0 ?>2545=G5A:8E =0C: ?@>4>;605B @072820BL ?@>1;5<K ?>B@51=>AB59 8 <>B820F8>==>3> ?>2545=8O. A;8 ?5@28G=K5 ?>B@51=>AB8 ?> A2>59 ?@8@>45 O2;ONBAO D878>;>38G5A:8<8 8 70;>65=K 2 G5;>25:5 35=5B8G5A:8, B> 2B>@8G=K5 ?>B@51=>AB8 ?> A2>59 ?@8@>45 O2;ONBAO ?A8E>;>38G5A:8<8 8 >A>7=0NBAO G5;>25:>< ?> <5@5 ?@8>1@5B5=8O 8< >?KB0. >7=8:H0O ?>B@51=>ABL A;C68B 4;O G5;>25:0 <>B82>< : 459AB28N.  :>=F5?F88 . ;L45@D5@0, B0: 65, :0: 8 2 B5>@88 0A;>C, ?>B@51=>AB8 @0A?>;>65=K 85@0@E8G5A:8. 4=0:> >= 2K45;O5B 2A53> B@8 3@C??K ?>B@51=>AB59, :>B>@K5 4>AB0B>G=> =03;O4=> A>>B=>AOBAO A 3@C??0<8 ?>B@51=>AB59 ?8@0<84K 0A;>C. 564C MB8<8 B5>@8O<8 8<55BAO >4=> ?@8=F8?80;L=>5 @07;8G85, A>AB>OI55 2 B><, GB>, ?> 0A;>C, G5;>25:, C4>2;5B2>@82H89 ?>B@51=>AB8 =86=53> C@>2=O, ?5@5E>48B : C4>2;5B2>@5=8N ?>B@51=>AB8 A;54CNI53> C@>2=O 8 B.4. > ;L45@D5@C 42865=85 ?> 85@0@E88 <>65B >ACI5AB2;OBLAO :0: A=87C 225@E, B0: 8 A25@EC 2=87 2 B>< A;CG05, 5A;8 =5 C4>2;5B2>@5=0 ?>B@51=>ABL 25@E=53> C@>2=O. 0;8G85 42CE =0?@02;5=89 42865=8O 2 C4>2;5B2>@5=88 ?>B@51=>AB59 >B:@K205B 4>?>;=8B5;L=K5 2>7<>6=>AB8 2 <>B820F88 ?>2545=8O ;N459. 4=8< 87 AB>;?>2 ?A8E>-A>F8>;>38G5A:>3> ?>4E>40 AG8B05BAO $@545@8: 5@F15@3. & & & & . 1.2. A=>2=K5 ?@>1;5<K <>B820F88 8 AB8<C;8@>20=8O ?5@A>=0;0. $C=:F88 8 284K M:>=><8G5A:>9 <>B820F88 !B@0B538G5A:>5 C?@02;5=85 D8@<>9 B@51C5B >3@><=KE 8=B5;;5:BC0;L=KE 8 D8=0=A>2KE CA8;89 @C:>2>4AB20 4;O >F5=:8 A>AB>O=8O A@54K 8 2K@01>B:8 <5B>4>2 C?@02;5=8O 4;O 4>AB865=8O :>@?>@0B82=KE F5;59. -DD5:B82=>ABL 2;>65=8O MB8E 8=25AB8F89 2> <=>3>< 1C45B >?@545;OBLAO B5<, =0A:>;L:> ?5@A>=0; 708=B5@5A>20= 2 @5H5=88 ?>AB02;5==KE ?5@54 =8< 7040G, >A>15==> 5A;8 MB> @5H5=85 B@51C5B >B =53> 4>?>;=8B5;L=KE CA8;89. K@01>B:0 8 0:B82870F8O (<>B820F8O) >?@545;5==>3> ?@>872>4AB25==>3> ?>2545=8O ?5@A>=0;0 - >4=0 87 206=59H8E 7040G, AB>OI8E ?5@54 <5=546<5=B><. @30=870F8O <>B820F88 : MDD5:B82=><C B@C4C  =081>;55 A;>6=0O 7040G0 4;O 1>;LH8=AB20 :><?0=89.  >?KB=K9 @C:>2>48B5;L 7=05B, GB> A0<K5 ;CGH85 A>B@C4=8:8  B5, :>B>@K5 @50;L=> ?@54AB02;ONB ?>;>68B5;L=K5 F5;8 8 ?>A;54AB28O A2>53> B@C40. A;8 A?@>A8BL @07=KE @C:>2>48B5;59, GB> B0:>5 <>B820F8O, B> 2 8E >?@545;5=8OE, =025@=O:0, 1C4CB B0:85 ?>=OB8O, :0: 65;0=85, ?>B@51=>AB8, AB@5<;5=8O, <>B82K, F5;8, 7040G8 8;8 AB8<C;K. A5 MB8 ?>=OB8O, B0: 8;8 8=0G5, >B@065=K 2 A;54CNI5< >?@545;5=88 <>B820F88. >B820F8O - MB> 2=CB@5==55 A>AB>O=85 G5;>25:0, A2O70==>5 A ?>B@51=>ABO<8, :>B>@>5 0:B82878@C5B, AB8<C;8@C5B 8 =0?@02;O5B 53> 459AB28O : ?>AB02;5==>9 F5;8. ;02=>5 2 <>B820F88 - 55 =5@07@K2=0O A2O7L A ?>B@51=>ABO<8 G5;>25:0. '5;>25: AB@5<8BAO A=878BL =0?@O65=85, 2K@060NI55AO 2 A>AB>O=88 15A?>:>9AB20 8 B@52>38, :>B>@>5 2>7=8:05B C =53>, :>340 >= 8A?KBK205B =C64C (=5 2A5340 >A>7=0205<CN) 2 C4>2;5B2>@5=88 :0:>9-;81> ?>B@51=>AB8 (18>;>38G5A:>9 8;8 A>F80;L=>9). @>D5AA8>=0;L=K9 B@C4 ?>72>;O5B G5;>25:C C4>2;5B2>@OBL =5 B>;L:> 18>;>38G5A:85, => 8 A>F80;L=K5 ?>B@51=>AB8, B> 5ABL ?>B@51=>AB8, :>B>@K5 ?@8ACI8 G5;>25:C :0: ACI5AB2C A>F80;L=><C. ><8<> 70@010BK20=8O 45=53 G5;>25: AB@5<8BAO ?@>872>48BL E>@>H55 2?5G0B;5=85 =0 >:@C60NI8E, CAB0=02;820BL E>@>H85 >B=>H5=8O A =8<8, A0<>CB25@640BLAO, @072820BLAO, >:07K20BL 2;8O=85 =0 4@C38E ;N459 8;8 8<5BL C25@5==>ABL 2 702B@0H=5< 4=5. 5 2A5 ?>B@51=>AB8, 0:B82878@CNI85 ?>2545=85 G5;>25:0, >A>7=0NBAO 8< 2 ?>;=>9 <5@5. "0:, =0?@8<5@, ?>B@51=>ABL 2> 2;0AB8, 2 =57028A8<>AB8 <>65B ?@>O2;OBLAO 2 :@09=5 1>;57=5==>9 @50:F88 @01>B=8:0 =0 ;N1>5 402;5=85 8;8 =0 CA8;5=85 2=5H=53> :>=B@>;O, E>BO 8AB8==K5 8AB>:8 B0:>3> ?>2545=8O <>3CB 8 =5 >A>7=020BLAO. >B820F8O 45;05B ?>2545=85 G5;>25:0 F5;5=0?@02;5==K<. &5;L 745AL - MB> B>, GB> <>65B ?@825AB8 : ;8:2840F88 8A?KBK205<>3> G5;>25:>< A>AB>O=8O =C64K 2 G5<-;81>. >AB865=85 F5;8 ?@82>48B : C<5=LH5=8N 8;8 8AG57=>25=8N =0?@O65=8O. >AB865=85 F5;8 2>AAB0=02;8205B D878>;>38G5A:>5 8 ?A8E>;>38G5A:>5 @02=>25A85. @85< ?8I8 C4>2;5B2>@O5B 3>;>4, 2AB@5G0 A 4@C7LO<8 A?>A>1AB2CNB 2>A?>;=5=8N 45D8F8B0 2 >1I5=88, 8 F5;O<8 2 MB8E A;CG0OE O2;ONBAO ?8I0 8 ?>;CG5=85 ?@87=0=8O >B 4@C38E ;N459. >B820F8O - MB> A>2>:C?=>ABL 4286CI8E A8;, :>B>@K5 ?>1C640NB G5;>25:0 : 45OB5;L=>AB8, 8<5NI59 >?@545;5==CN F5;52CN =0?@02;5==>ABL. @>F5AA <>B820F88 (<>B828@>20=8O) AB@>8BAO 2>:@C3 ?>B@51=>AB59 G5;>25:0, :>B>@K5 8 O2;ONBAO >A=>2=K< >1J5:B>< 2>7459AB28O A F5;LN ?>1C645=8O G5;>25:0 : 459AB28N.  A0<>< >1I5< 2845 ?>B@51=>ABL - MB> >ICI5=85 =54>AB0B:0 2 G5<-;81>, :>B>@>5 8<55B 8=48284C0;878@>20==K9 E0@0:B5@ ?@8 2A59 >1I=>AB8 ?@>O2;5=8O. @>645==K5 ?>B@51=>AB8, >1I85 4;O 2A5E ;N459 (?5@28G=K5 ?>B@51=>AB8) ?>;CG8;8 =0720=85 - =C640. 0?@8<5@, =C640 2 545, A=5, A5:A5 8 B. ?. @8>1@5B5==K5 (2B>@8G=K5) ?>B@51=>AB8 A2O70=K A ACI5AB2>20=85< G5;>25:0 2 3@C??5, =>AOB 1>;55 ?5@A>=8D8F8@>20==K9 E0@0:B5@ 8 D>@<8@CNBAO ?>4 2>7459AB285< A@54K. 0?@8<5@, ?>B@51=>ABL 2 C2065=88, 2 4>AB865=88 @57C;LB0B0, ;N128 8 B. ?. >:0 ?>B@51=>ABL ACI5AB2C5B, G5;>25: 8A?KBK205B 48A:><D>@B, 8 8<5==> ?>MB><C 1C45B AB@5<8BLAO =09B8 A@54AB20 C4>2;5B2>@5=8O ?>B@51=>AB8 (A=OBL AB@5AA). #AB@0=5==0O (C4>2;5B2>@5==0O) ?>B@51=>ABL 8AG5705B, => 40;5:> =5 =02A5340. >;LH8=AB2> ?>B@51=>AB59 2>7>1=>2;ONBAO, ?@8 MB>< <5=OO D>@<C ?@>O2;5=8O, ?5@5E>4O =0 4@C3>9 C@>25=L 85@0@E88 ?>B@51=>AB59. >B@51=>AB8 O2;ONBAO >A=>2=K< 8AB>G=8:>< 0:B82=>AB8 G5;>25:0, :0: 2 ?@0:B8G5A:>9, B0: 8 ?>7=020B5;L=>9 45OB5;L=>AB8. & & & & .. 4=>9 87 =081>;55 2>;=CNI8E B5< 2 C?@02;5=88 ?5@A>=0;>< 1K;0 8 >AB05BAO <0B5@80;L=0O <>B820F8O. 0: ?>:07K20NB <=>3>G8A;5==K5 8AA;54>20=8O, C@>25=L 4>E>4>2 O2;O5BAO 206=K< D0:B>@><, @C:>2>4AB2COAL :>B>@K< A>B@C4=8:8 2K18@0NB A515 <5AB> @01>BK 8;8 ?@8=8<0NB @5H5=85 > 53> A<5=5/A>E@0=5=88. 0B5@80;L=0O <>B820F8O 8A?>;L7C5BAO :0: 2 D>@<5 <0B5@80;L=>3> 2>7=03@0645=8O 70 :>;8G5AB2> 8 :0G5AB2> B@C40, B0: 8 2 2845 <0B5@80;L=KE A0=:F89 (HB@0D>2) 70 =5A>>B25BAB2CNI55 53> :0G5AB2> 8 =54>AB0B>G=>5 :>;8G5AB2>. @8 MB>< 8A?>;L7C5BAO :0: 8=48284C0;L=0O, B0: 8 :>;;5:B82=0O <0B5@80;L=0O 708=B5@5A>20==>ABL. >MB><C M:>=><8G5A:85 <5B>4K, A >4=>9 AB>@>=K, 4>;6=K 2=5 7028A8<>AB8 >B D>@<K A>1AB25==>AB8 AB8<C;8@>20BL 45OB5;L=>ABL >@30=870F88 =0 C4>2;5B2>@5=85 ?>B@51=>AB59 >1I5AB20, A 4@C3>9 AB>@>=K, >=8 4>;6=K A;C68BL <>B820B>@>< 4;O ?5@A>=0;0 >@30=870F88. & & & & >AB>8=AB20 <0B5@80;L=>9 <>B820F88  >ICB8<>5 2>7=03@0645=85, 2A5<8 ?@85<;5<>5, ?@8=OB> 2 >1I5AB25. 54>AB0B:8 <0B5@80;L=>9 <>B820F88  5A;8 MB> 548=AB25==K9 AB8<C;, :>B>@K9 C45@68205B A>B@C4=8:0 =0 @01>B5, 53> ;53:> ?5@5<0=8BL, ?@54;>682 1>;LHCN AC<<C. 1.3. >=OB85 M:>=><8G5A:>3> :@878A0, 53> A?5F8D8:0 2 $. 5<>B820F8O, :0: A;54AB285 :@878A=KE O2;5=89 -:>=><8G5A:89 :@878A (4@.3@5G. Krisis - ?>2>@>B=K9 ?C=:B) - A5@L57=K5 =0@CH5=8O 2 >1KG=>9 M:>=><8G5A:>9 45OB5;L=>AB8. 4=>9 87 D>@< ?@>O2;5=8O :@878A0 O2;O5BAO A8AB5<0B8G5A:>5, <0AA>2>5 =0:>?;5=85 4>;3>2 8 =52>7<>6=>ABL 8E ?>30H5=8O 2 @07C<=K5 A@>:8. @8G8=C M:>=><8G5A:8E :@878A>2 G0AB> CA<0B@820NB 2 =0@CH5=88 @02=>25A8O <564C A?@>A>< 8 ?@54;>65=85< =0 B>20@K 8 CA;C38.  ! @0728B85< @K=>G=>9 8=4CAB@80;L=>9 M:>=><8:8 :@878AK ?5@5?@>872>4AB20 ?@8>1@5;8 F8:;8G5A:89 E0@0:B5@ 8 =0 A53>4=O A>AB02;ONB >4=C 87 D07 M:>=><8G5A:>3> F8:;0. !;54AB285< M:>=><8G5A:>3> :@878A0 O2;O5BAO C<5=LH5=85 @50;L=>3> 20;>2>3> =0F8>=0;L=>3> ?@>4C:B0, <0AA>2K5 10=:@>BAB20 8 157@01>B8F0, A=865=85 687=5==>3> C@>2=O =0A5;5=8O. 2008 3>4 >4=>7=0G=> 2>945B 2 M:>=><8G5A:CN 8AB>@8N >AA88 1;03>40@O 2>7=8:H5<C D8=0=A>2><C :@878AC 8 <=>65AB2C A>?CBAB2CNI8E 5<C =530B82=KE ?>A;54AB289. $8=0=A>2K9 :@878A, :0: G0ABL <8@>2>3> D8=0=A>2>3> :@878A0 AB0; 2>7<>6=K<, ?> <=5=8N =5:>B>@KE A?5F80;8AB>2, 87-70 ?@>87>H54H59 8=B53@0F88 @>AA89A:>9 M:>=><8:8 2 <8@>2CN M:>=><8:C, :>340 ;N1>5 A>1KB85 70 @C156>< >:07K205B 2;8O=85 =0 AB>8<>ABL @>AA89A:8E >1;830F89 8 0:F89, =0 ;8:284=>ABL, 4>E>4K 3@0640= 8 @>AB M:>=><8:8. > >F5=:5 A5<8@=>3> 10=:0, @>AA89A:89 :@878A 2008 3>40 =0G0;AO :0: :@878A G0AB=>3> A5:B>@0, A?@>2>F8@>20==K9 G@57<5@=K<8 708<AB2>20=8O<8 G0AB=>3> A5:B>@0 2 CA;>28OE 3;C1>:>3> B@>9=>3> H>:0: A> AB>@>=K CA;>289 2=5H=59 B>@3>2;8, >BB>:0 :0?8B0;0 8 C65AB>G5=8O CA;>289 2=5H=8E 708<AB2>20=89. 8@>20O M:>=><8:0 ?5@568205B ?5@2CN A> 2@5<5= B>@>9 <8@>2>9 2>9=K 3;>10;L=CN @5F5AA8N. > 3;C18=5 8 <0AHB01C 2>7459AB28O =0 3;>10;L=CN M:>=><8:C :@878A >:070;AO =0<=>3> 1>;55 A5@L57=K<, G5< >6840;>AL. ;8O=85 =0 >AA8N CAC3C1;O5BAO 55 AB@C:BC@=>9 CO728<>ABLN: 7028A8<>ABLN >B =5DB5307>2>3> A5:B>@0 8 C7>ABLN ?@><KH;5==>9 107K A> A;01>@0728BK< A5:B>@>< <0;KE 8 A@54=8E ?@54?@8OB89. 0 =0G0;L=>< MB0?5 :@878A A5@L57=> 70B@>=C; @K=>: B@C40 8 C@>25=L 154=>AB8. @>3=>7 <8@>2>9 M:>=><8:8 >AB05BAO 25AL<0 =5>?@545;5==K<: >68405BAO ?045=85 <8@>2>3>  8 A=865=85 >1J5<>2 <8@>2>9 B>@3>2;8, 0 B0:65 7=0G8B5;L=>5 A>:@0I5=85 :0?8B0;L=KE ?>B>:>2 2 @072820NI85AO AB@0=K 2 2009 3, ?@8 MB>< <8@>2K5 F5=K =0 =5DBL >AB0=CBAO =0 =87:>< C@>2=5  2 480?07>=5 >B 40 4> 50 4>;;0@>2 !( 2 2009-2010 3>40E. & & & & . ;8O=85 D8=0=A>2>3> :@878A0 2 >AA88 =0 A515 >ICB8;8 ?@0:B8G5A:8 2A5 ?@54?@8OB8O, >A>15==> @01>B0NI85 =0 M:A?>@B. 065 A0<K5 :@C?=K5 :><?0=88 A2>@0G820NB <=>385 8=25AB8F8>==K5 ?@>3@0<<K, 2A5<8 2>7<>6=K<8 ?CBO<8 A>:@0I0NB @0AE>4=CN G0ABL A2>53> 1N465B0, GB>, 2 A2>N >G5@54L, 2;5G5B 70 A>1>9 <0AA>2>5 C2>;L=5=85 8 A>:@0I5=85 @01>G8E <5AB. 'B> :0A05BAO 10=:>2A:>9 A8AB5<K, B> 745AL <>6=> >B<5B8BL C65AB>G5=85 B@51>20=89 10=:>2 : ?>B5=F80;L=K< 705<I8:0<, ?>2KH5=85 AB02>: ?> 2=>2L 2K40205<K< :@548B0<, A25@BK20=85 <=>38E 8?>B5G=KE 8 ?>B@518B5;LA:8E ?@>3@0<< (=0?@8<5@, 15770;>3>2KE 8 15A?@>F5=B=KE :@548B>2). 'B> :0A05BAO A>B@C4=8:>2 ?@54?@8OB89, B> M:A?5@BK ?@>3=>78@CNB C25;8G5=85 G8A;0 157@01>B=KE =0 2010 3>4 2 >AA88 1>;55 10-15%.  A2>N >G5@54L, MB8 40==K5 B>65 8<5NB ?>;>68B5;L=K9 E0@0:B5@ 4;O @0728B8O 10=:>2A:>3> 187=5A0. 0 <=>38E <5;:8E, =5MDD5:B82=KE ?@54?@8OB8OE 70G0ABCN @01>B0NB ;N48 A 2KA>:8< C@>2=5< :20;8D8:0F88, A 1>;LH8< >?KB><. 7-70 @0A?040 <5;:8E :><?0=89, @01>B>40B5;8 A>;84=KE 10=:>2 A<>3CB ?@82;5GL =0 A2>N AB>@>=C =C6=K9 4;O A51O ?5@A>=0;, B5< A0<K<, ?>2KA82 A2>N :>=:C@5=B>A?>A>1=>ABL 8 2K68205<>ABL 2 A;>682H59AO A8BC0F88.  B><C 65, 8 A>B@C4=8:8, :>B>@K5 =5 E>BOB ?>B5@OBL A2>Q @01>G55 <5AB>, 1C4CB 2K=C645=K C25;8G820BL A2>9 ?>:070B5;L MDD5:B82=>AB8 @01>BK, 4;O C25;8G5=8O >1JQ<0 ?@>406. -B> B>65 8<55B >1@0B=CN A2O7L, B0: :0: 1C45B C25;8G820BLAO =5 B>;L:> ?>:070B5;L MDD5:B82=>AB8 @01>BK A0<>3> ?@54?@8OB8O, => 8 1C45B C25;8G820BLAO >?KB 8 :><?5B5=B=>ABL @01>G53> ?5@A>=0;0, GB> 8<55B >3@><=>5 7=0G5=85 2 @01>B5 10=:>2. 5@54 A>B@C4=8:0<8 2AB0=5B 7040G0 2 @5H5=88 8A?>;L7>20=8O 1>;55 MDD5:B82=KE 10=:>2A:8E B5E=>;>389, > <8=8<870F88 B@C4>70B@0B; 1C4CB @07@010BK20BLAO =>2K5 10=:>2A:85 ?@>4C:BK, :0: 2 :>@?>@0B82=>< A5:B>@5, B0: 8 2 >1A;C6820=88 D878G5A:8E ;8F: 2>7<>6=>, A;54C5B ?@54;030BL CA;C38 E>@>H53> :0G5AB20, => 1>;55 A =87:>9 AB>8<>ABLN.  A2O78 A M:>=><8G5A:8< :@878A>< C <=>38E ?@54?@8OB89 2>7=8:05B =5>1E>48<>ABL @07@01>B:8 =>2>9 AB@0B5388 C?@02;5=8O ?5@A>=0;><, 0 B0:65 AB@0B538N A>?@>B82;5=8O 87<5=5=8O< 8 C?@02;5=8O :>=D;8:B0<8, :>B>@K5 =587156=> 2>7=8:=CB 2 >@30=870F88 ?@8 ?@>2545=88 :0:8E-;81> =>2KE :04@>2KE ?@>3@0<<. ;02=>9 ?@>1;5<>9 ?@8 AB@C:BC@=KE 87<5=5=8OE O2;O5BAO 45<>B820F8O ?5@A>=0;0 2 A2O78 A B@52>3>9 8 =5>?@545;5==>ABLN ?>;>65=8O A>B@C4=8:>2. A;8 <>B820F8O  MB> ?@>F5AA 2=CB@5==53> ?>1C645=8O G5;>25:0 : 4>AB865=8N F5;59, 45<>B820F8N <>6=> >1>7=0G8BL :0: ?@>F5AA, 2 @57C;LB0B5 :>B>@>3> 2=CB@5==55 65;0=85 459AB2>20BL C G5;>25:0 A=8605BAO. !>B@C4=8: =0G8=05B, GB> =07K205BAO, A1>8BL, B5@OBL 2 :0G5AB25 @01>BK, =530B82=> 2KA:07K20BLAO > A2>59 45OB5;L=>AB8, :>;;530E 8;8 @C:>2>48B5;5, 2 53> ?>ABC?:0E 8 2KA:07K20=8OE <>6=> ?@>A;548BL ?@>O2;ONI89AO F8=87<. "0:>9 A>B@C4=8: 2 >B25B =0 ?@>AL1C 8;8 ?>@CG5=85 @C:>2>48B5;O <>65B :0B53>@8G=> 70O28BL: / =5 E>GC 70=8<0BLAO MB>9 @01>B>9 8;8 =5 =5 =@028BAO @01>B0BL A MB8<8 ;N4L<8.  & & & & K2>4K : 1 3;025  @57C;LB0B5 0=0;870 8 A8AB5<0B870F88 B5>@5B8G5A:8E 273;O4>2 =0 ?>=OB8O <>B820F88 8 :@878A=KE O2;5=89 <>6=> A45;0BL A;54CNI85 2K2>4K. >B820F8O - MB> A>740=85 CA;>289, >:07K20NI8E 2>7459AB285 =0 ?>2545=85 G5;>25:0. >B820F8O ?@5A;54C5B F5;L A>740=8O =5>1E>48<KE CA;>289 8 AB8<C;>2 4;O =081>;55 ?>;=>9 @50;870F88 B@C4>2>3> ?>B5=F80;0 :064K< @01>B=8:>< =0 :>=:@5B=>< @01>G5< <5AB5. A>1CN 206=>ABL ?@8>1@5B05B >A>7=0=85 ;N4L<8 2KA>:8E 8 >1I5AB25==> 7=0G8<KE <>B82>2, B0:8E, :0: F5;L 2 687=8, ?@8720=85 8 B.?. !>45@60B5;L=K5 B5>@88 <>B820F88 1078@CNBAO, =0 ?>B@51=>ABOE 8 A2O70==KE A=8<8 D0:B>@0E, >?@545;ONI8E ?>2545=85 ;N459. "0:8< >1@07><, @01>B=8:8, >?8AK205<K5 B5>@8O<8 %, #, Z, >1@07CNB @07;8G=K5 3@C??K ;N459 8 ?@54?>G8B0NB @07;8G=K5 <>B82K ?>2545=8O 8 AB8<C;K ?>1C645=8O : B@C4C. 0 ?@54?@8OB88 ?@54AB02;5=K 2A5 B8?K ;N459, 8 ?@8<5=5=85 B>9 8;8 8=>9 :>=F5?F88 <>B820F88 >?@545;O5BAO C45;L=K< 25A>< @01>B=8:>2 :>=:@5B=>3> B8?0 2 3@C??5. !>45@60B5;L=K5 8 ?@>F5AAC0;L=K5 B5>@88 <>B820F88, ?@8 A>2<5AB=>< @0AA<>B@5=88, ?>72>;ONB ?>;CG8BL =081>;55 045:20B=CN :0@B8=C >B@0605<>3> O2;5=8O. @8G8=C M:>=><8G5A:8E :@878A>2 G0AB> CA<0B@820NB 2 =0@CH5=88 @02=>25A8O <564C A?@>A>< 8 ?@54;>65=85< =0 B>20@K 8 CA;C38. !;54AB285< M:>=><8G5A:>3> :@878A0 O2;O5BAO C<5=LH5=85 @50;L=>3> 20;>2>3> =0F8>=0;L=>3> ?@>4C:B0, <0AA>2K5 10=:@>BAB20 8 157@01>B8F0, A=865=85 687=5==>3> C@>2=O =0A5;5=8O. $8=0=A>2K9 :@878A, :0: G0ABL <8@>2>3> D8=0=A>2>3> :@878A0 AB0; 2>7<>6=K<, ?> <=5=8N =5:>B>@KE A?5F80;8AB>2, 87-70 ?@>87>H54H59 8=B53@0F88 @>AA89A:>9 M:>=><8:8 2 <8@>2CN M:>=><8:C, ;8O=85 D8=0=A>2>3> :@878A0 2 >AA88 =0 A515 >ICB8;8 ?@0:B8G5A:8 2A5 ?@54?@8OB8O.  A2O78 A M:>=><8G5A:8< :@878A>< C <=>38E ?@54?@8OB89 2>7=8:05B =5>1E>48<>ABL @07@01>B:8 =>2>9 AB@0B5388 C?@02;5=8O ?5@A>=0;><, 0 B0:65 AB@0B538N A>?@>B82;5=8O 87<5=5=8O< 8 C?@02;5=8O :>=D;8:B0<8, :>B>@K5 =587156=> 2>7=8:=CB 2 >@30=870F88 ?@8 ?@>2545=88 :0:8E-;81> =>2KE :04@>2KE ?@>3@0<<. & & & . ;020 2. =0;87 ?@>3@0<< <0B5@80;L=>9 <>B820F88 2 ?5@8>4 :@878A0 =0 ?@8<5@5  2.1. @0B:0O E0@0:B5@8AB8:0 ?@54?@8OB8O  1K; 70@538AB@8@>20= 2 & $ 01.09.19943. ?>4 ! 3062.0B0 3>AC40@AB25==>9 @538AB@0F88  01.03.2003. A=>2=>9 3>AC40@AB25==K9 @538AB@0F8>==K9 =><5@   - !1037739770661. 0=:>< ?>;CG5=0 8F5=78O =0 >?5@0F88 2 @C1;OE 8 8=>AB@0==>9 20;NB5 ! 3062 >B 10.11.20023. 23 45:01@O 20043. 0=: AB0=>28BAO CG0AB=8:>< A8AB5<K >1O70B5;L=>3> AB@0E>20=8O 2:;04>2 (!357).   8<55B #AB02=>9 0?8B0; 2 @07<5@5 100 375 000 (AB> <8;;8>=>2 B@8AB0 A5<L45AOB ?OBL BKAOG) @C1;59. >;=>5 =0720=85 - 1I5AB2> A >3@0=8G5==>9 >B25BAB25==>ABLN ><<5@G5A:89 0=: , A>:@0I5==>5 =0720=85 -  !!! (). 4@5A: 113093, 3. >A:20, C;. NA8=>2A:0O, 4. 27, AB@.3. K?CA: 10=:>2A:8E :0@B; MasterCard Int.; VISA International.  >A=>2=K< DC=:F8O<   >B=>AOBAO: - <>18;870F8O 2@5<5==> A2>1>4=KE 8 =5 8A?>;L7C5<KE =0 B5:CI85 ?>B@518B5;LA:85 F5;8 45=56=KE A@54AB2 =0A5;5=8O 8 ?@54?@8OB89; - @07<5I5=85 ?@82;5G5==KE A@54AB2 2 @50;L=K9 A5JLNPڸxfPf8PfP.j}hhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu:jhhM>*B*CJUaJmHnHphuhhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHuhhMCJaJjhhMCJUaJ hfhMhfhM5CJ$\]aJ$ > 8d:~&~FFJ$ dha$gdM$ % dha$gdM$ % dha$gdMgdM$a$gdM " $ 2 4 6 8 שחiKח:jhhM>*B*CJUaJmHnHphu.jwhhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu:jhhM>*B*CJUaJmHnHphuhhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu , . 0 2 0 2 4 8 : < > @ B z | ҩiQҩ.jkhhMCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu#hhM0JCJaJmHnHuhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.jqhhMCJUaJmHnHu| ~ J L N *˹yi˹iK˹:jhhM>*B*CJUaJmHnHphuhhMCJaJmHnHu.jehhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu*,.2468:<tvxz "VXZ^`bdfhҩiQҩ.jYhhMCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu#hhM0JCJaJmHnHuhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.j_hhMCJUaJmHnHu,.0468:<>vxz| ˹yi˹iK˹:jhhM>*B*CJUaJmHnHphuhhMCJaJmHnHu.jShhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu  TVXZ8:<prtxz|~ҩiQҩ.jG hhMCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu#hhM0JCJaJmHnHuhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.jMhhMCJUaJmHnHu "$&(*bdfh8:<p˹yi˹iK˹:j hhM>*B*CJUaJmHnHphuhhMCJaJmHnHu.jA hhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu:j hhM>*B*CJUaJmHnHphuprtxz|~lnpҩiQҩ.j5 hhMCJUaJmHnHu:j hhM>*B*CJUaJmHnHphu#hhM0JCJaJmHnHuhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.j; hhMCJUaJmHnHuXZ\8˹yi˹iK˹:j hhM>*B*CJUaJmHnHphuhhMCJaJmHnHu.j/ hhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu:j hhM>*B*CJUaJmHnHphu8:<@BDFHJ ҩiQҩ.j#hhMCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu#hhM0JCJaJmHnHuhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.j)hhMCJUaJmHnHu "$dfh8˹yi˹iK˹:jhhM>*B*CJUaJmHnHphuhhMCJaJmHnHu.jhhMCJUaJmHnHu+jhhMCJUaJmHnHu"hhMCJaJmHnHu#hhM0JCJaJmHnHu,jhhM0JCJUaJmHnHu:jhhM>*B*CJUaJmHnHphu8:<@BDFHJ^`x##B((,h,6-8-:-D-ҩ~pi~^~^iVi^I^<^~jhfhM0JUhfhM0JCJaJhfhM\hfhMCJaJ hfhMhfhM5CJ$^JaJ$hfhM5CJaJjhhMCJUaJhhMCJaJmHnHu,jhhM0JCJUaJmHnHu"hhMCJaJmHnHu+jhhMCJUaJmHnHu.jhhMCJUaJmHnHuJ^`NL #$"&B(T+:-f.. /008112F33.4$ & F Zdh^a$gdM$$gdM$dh`a$gdMgdM$dha$gdMD-f.r.33.4>4|44778:J:J;N;;;;V<X<|A~AMMDRFRbSdSSSSSS T T__aa@fLfggliƸ{qjhM0JUhfhMCJaJh hMjhfhM0JUhfhMCJ$^JaJ$hfhM5CJ$NH^JaJ$hfhM5CJ$^JaJ$ hfhMhfhMCJNHaJhfhM5CJ\]aJhfhM5CJaJhfhMCJaJ+.4|479L;N;;V<X<ACVE~HM$ dh^`a$gdM$dh`a$gdM$dh`a$gdM$dha$gdMgdM$dh-D7$8$H$M `a$gdM$dh`a$gdM M:PHRfSSS T TUHXY_ae@fLfg$dh`a$gdM$dh`a$gdM $`a$gdM $`a$gdM$ dh^`a$gdM$dh`a$gdM$dh7$8$H$`a$gdMgg\k2mprx~|}҂z̈(2.0$dh`a$gdM$ dh^`a$gdM$dh-DM `a$gdM$dh`a$gdMgdMlini2mmm*nvnndoopTpppppxqqrnrrr@sss*ttuuuHvvv8www(xtxxxyଟ଒yӬƒƬlhfhM@CJaJhfhM@CJaJjhM0J@UhfhM@CJaJhfhM@CJaJhfhM@CJaJhfhM@CJaJhfhM@CJaJhfhM@CJaJhfhM@CJaJhfhMCJaJhMCJaJ(yXyyy  $$Ifa$gdM$dh`a$gdM$dh`a$gdM$dh`a$gdM$dh-DM `a$gdM:B>@ M:>=><8:8 8 =0 D8=0=A>2KE @K=:0E; - @0AG5B=>-:0AA>2>5 8 :@548B=>5 >1A;C6820=85 ?@54?@8OB89 8 >@30=870F89; - :@548B>20=85 ?>B@518B5;LA:8E =C64 =0A5;5=8O; - >ACI5AB2;5=85 45=56=KE @0AG5B>2 8 ?;0B5659 2 E>7O9AB25 8 A =0A5;5=85<; - >@30=870F8O @01>BK A ?;0AB8:>2K<8 :0@B0<8 <564C=0@>4=KE 8 @>AA89A:8E ?;0B56=KE A8AB5< 8 M<8AA8O A>1AB25==KE :0@B; - >ACI5AB2;5=85 ?@>D5AA8>=0;L=>9 8 =5?@>D5AA8>=0;L=>9 45OB5;L=>AB8 =0 @K=:5 F5==KE 1C<03; - A>25@H5=85 20;NB=KE >?5@0F89 8 <564C=0@>4=KE @0AG5B>2; - :>=AC;LB8@>20=85 8 ?@54>AB02;5=85 M:>=><8G5A:>9 8 D8=0=A>2>9 8=D>@<0F88; - >:070=85 :><<5@G5A:8E CA;C3 (;878=3, ?@54>AB02;5=85 A59D>2 8 OG55: 4;O E@0=5=8O F5==>AB59 8 4@.). !E5<0B8G=> >@30=870F8>==CN AB@C:BC@C C?@02;5=8O   <>6=> >B@078BL 3@0D8G5A:8 (@8A. 2.1). & & & & & A=>2=K5 ?>:070B5;8 45OB5;L=>AB8   ?@54AB02;5=K 2 B01;8F5 2.1. "01;8F0 2.1 A=>2=K5 D8=0=A>2K5 ?>:070B5;8   08<5=>20=85 ?>:070B5;592007200820097<5=5=8O, BKA. @C1."5<? @>AB0, %:B82K, BKA. @C1.!@54AB20 :;85=B>2, BKA. @C1.:;04K =0A5;5=8O, BKA. @C1.1J5< 2K40==KE :@548B=KE @5AC@A>2, BKA. @C1.'8AB0O ?@81K;L, BKA. @C1. 0 @0AA<0B@8205<K9 ?5@8>4 0:B82K   2K@>A;8 =0 133459 BKA. @C1. 8;8 =0 35,22%, GB> =03;O4=> 8;;NAB@8@C5BAO @8AC=:>< 2.2.  8A. 2.2. 8=0<8:0 0:B82>2   "5<? @>AB0 A@54AB2 :;85=B>2 =5 B0:>9 2KA>:89 2 48=0<8:5 @>AB ?>:070B5;O A>AB028; 20,41%. "0:65 =57=0G8B5;L=K9 ?@8@>AB ?> 2:;040< =0A5;5=8O 3983 BKA. @C1. 8;8 10,78%, GB> 2 F5;>< >1JOA=O5BAO =5?@>AB>9 D8=0=A>2>9 A8BC0F859, :>B>@0O A;>68;0AL 2 D8=0=A>2>9 AD5@5. 1J5< 2K40==KE :@548B=KE @5AC@A>2 2K@>A =0 21524 BKA. @C1. 8;8 =0 13,03% !;54C5B >B<5B8BL, GB> 2 A2O78 A D8=0=A>2K< :@878A>< MDD5:B82=>ABL 45OB5;L=>AB8   =5A:>;L:> A=878;0AL, =5A<>B@O =0 D0:B @>AB0 0:B82>2 8 >1J5<>2 ?@82;5G5==KE 8 2K40==KE D8=0=A>2KE @5AC@A>2.  2008 3>4C G8AB0O ?@81K;L   A=878;0AL A 25650 4> 19715 BKA. @C1., 2 2009 3>4C ?>;>65=85 =5A:>;L:> AB018;878@>20;>AL, =01;N405BAO @>AB G8AB>9 ?@81K;8, >4=0:> C@>25=L 2007 3>40 4>AB83=CB =5 1K;. 8=0<8:0 G8AB>9 ?@81K;8 8;;NAB@8@C5BAO @8AC=:>< 2.3. & & & .. 2.2. =0;87 <0B5@80;L=>9 <>B820F88 2  @8 @07@01>B:5 A8AB5<K <0B5@80;L=>9 <>B820F88 M:>=><8G5A:89 >B45;   8AE>48B, ?@5645 2A53>, 87 B>3>, <0B5@80;L=>5 2>7=03@0645=85 4>;6=> 1KBL 045:20B=> 70B@0G5==K< @01>B=8:>< CA8;8O<, B.:. B>;L:> 2 MB>< A;CG05 >=> 1C45B O2;OBLAO AB8<C;>< 4;O ?>2KH5=8O ?@>872>48B5;L=>AB8 B@C40 @01>B=8:>2 ?@54?@8OB8O. AE>4O 87 A?5F8D8:8 45OB5;L=>AB8 ?@54?@8OB8O, 0 8<5==> B>3>, GB> 10=: O2;O5BAO D8=0=A>2>-:@548B=K< CG@5645=85<, 8 1>;LHCN G0ABL A>B@C4=8:>2 ?@54?@8OB8O A>AB02;ONB 2KA>:>:20;8D8F8@>20==K5 A?5F80;8ABK, ?@8 @07@01>B:5 A8AB5< >?;0BK B@C40 @C:>2>4AB2> 10=:0 8AE>48B 87 A;54CNI8E ?@8=F8?>2 (B01;8F0 2.2). & & .. "01;8F0 2.2 A>15==>AB8 A>45@60=8O 8 >@30=870F88 B@C40 2   8 A2O70==K5 A =8<8 >A>15==>AB8 C?@02;5=8O ?5@A>=0;>< & & & . 2.3. @0:B8:0 ?@8<5=5=8O 8 >F5=:0 MDD5:B82=>AB8 8 <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88 (2KO2;5=85 =54>AB0B:>2) ! F5;LN >?@545;5=8O AB5?5=LN C4>2;5B2>@5==>AB8 A8AB5<>9 >?;0BK B@C40 A>B@C4=8:0< 704020;AO 2>?@>A:  :0:>9 <5@5 0A C4>2;5B2>@ONB @07;8G=K5 AB>@>=K 0H59 @01>BK?. 0A?@545;5=85 >B25B>2 ?@54AB02;5=> 2 B01;8F5 2.3 8 =0 @8AC=:5 2.4. 0: 284=>, D0:B>@K, <0:A8<0;L=> 2;8ONI85 =0 =5C4>2;5B2>@5==>ABL @01>B>9 8 A8AB5<>9 >?;0BK B@C40   , 4>AB0B>G=> E0@0:B5@=K 4;O A>B@C4=8:>2 :><<5@G5A:8E >@30=870F89  @07<5@ >?;0BK B@C40 (58,9%), A;>6=>AB8 A ?@>42865=85< ?> @01>B5 (48,7%), =52>7<>6=>ABL @5H0BL A>F80;L=>-1KB>2K5 ?@>1;5<K (41,0%). 01>B0 10=:>2A:8E A?5F80;8AB>2 E0@0:B5@87C5BAO 2KA>:8< C@>2=5< =0?@O65==>AB8, 48=0<87<0, ?@545;L=>9 2:;NG5==>AB8 2 ?@>872>4AB25==K5 ?@>F5AAK. KA>:CN AB5?5=L C4>2;5B2>@5==>AB8 B@C4>< >15A?5G820NB: E>@>H89 :>;;5:B82 (94,8%), 4>ABC?=>ABL 8 45<>:@0B8G=>ABL @C:>2>4AB20 (87,1%), E>@>H85 CA;>28O 4;O @01>BK 2 >D8A5 (84,6%), C2;5:0B5;L=0O @01>B0, A?>A>1AB2CNI0O @>ABC ?@>D5AA8>=0;L=>9 ?>43>B>2:8 (74,3%). >GB8 70% (69,7%) A>B@C4=8:>2 45<>=AB@8@CNB 2KA>:CN (C@>25=L 2KH5 59%) AB5?5=L C4>2;5B2>@5==>AB8 @01>B>9. !@54=89 C@>25=L C4>2;5B2>@5==>AB8 B0:65 4>AB0B>G=> 2KA>:  62,3%. "01;8F0 2.3 !B5?5=L C4>2;5B2>@5==>AB8 @01>B>9 & & & K2>4K : 2 3;025   (@01>B>40B5;L) >ACI5AB2;O5B >?;0BC B@C40 @01>B=8:>2 A>3;0A=> 459AB2CNI53> =0 ?@54?@8OB88 HB0B=>3> @0A?8A0=8O, 2 A>>B25BAB288 A 8E ?@>D5AA859, 70=8<05<>9 4>;6=>ABLN, => =5, <5=55 <8=8<0;L=>3> @07<5@0 >?;0BK B@C40. (B0B=K< @0A?8A0=85<   >?@545;5=K >:;04K 8 A45;L=K5 @0AF5=:8 (2 % >B 2K@CG:8). 01>B>40B5;L >ACI5AB2;O5B >?;0BC B@C40 @01>B=8:>2 =0 >A=>25 ;8G=>3> B@C4>2>3> 2:;040 @01>B=8:0 8 =5 >3@0=8G8205B 8=48284C0;L=CN 70@01>B=CN ?;0BC <0:A8<0;L=K< @07<5@><. ;O @0AG5B0 A@54=59 70@01>B=>9 ?;0BK CG8BK20NBAO 2A5 ?@54CA<>B@5==K5 A8AB5<>9 >?;0BK B@C40 284K 2K?;0B, ?@8<5=O5<K5 =0 ?@54?@8OB88. !CI5AB2C5B A8AB5<0 4>?>;=8B5;L=KE A>F80;L=KE 30@0=B89. 0B5@80;L=>5 AB8<C;8@>20=85 =0 40==>< ?@54?@8OB88 A;01> 2K@065=>, B0: :0: 2A5 =04102:8, ?@5<88, 4>?>;=8B5;L=K5 2K?;0BK 65AB:> ?@82O70=K : >:;04C, :>B>@K9 2 A2>N >G5@54L =5 >G5=L 25;8: (2 A@54=5< ?> >A:25 8 >1;0AB8). !8AB5<0 AB8<C;8@>20=8O =5 ?@>7@0G=0 8 =5 ?>=OB=0 1>;LH8=AB2C A>B@C4=8:>2   , 0, A;54>20B5;L=>, @0AB5B =54>25@85 : @C:>2>4AB2C 8 8E 459AB28O<, ?0405B <>@0;L=K9 =0AB@>9 :>;;5:B820 8 ?@>872>48B5;L=>ABL B@C40. 57N<8@CO @57C;LB0BK 8AA;54>20=8O, A;54C5B >B<5B8BL A;54CNI55: =081>;55 206=K< D0:B>@><, >15A?5G820NI8< C4>2;5B2>@5==>ABL B@C4><, 4;O A>B@C4=8:>2   O2;O5BAO <0B5@80;L=>5 AB8<C;8@>20=85 (2KA>:0O 70@01>B=0O ?;0B0); 2KA>:0O =0?@O65==>ABL B@C40, ?@5AB86 ?@>D5AA88, 0 B0:65 A>F80;L=>-1KB>2K5 CA;>28O O2;ONBAO D0:B>@0<8 2B>@>3> ?>@O4:0; @54AB02;O5BAO, GB> A>B@C4=8:8   , 8<5NI85 4>AB0B>G=> 2KA>:89 C@>25=L 45=56=>3> 2>7=03@0645=8O, A:;>==K C2O7K20BL :><<5@G5A:85 CA?5E8 :><?0=88 A 48=0<8:>9 @>AB0 A>1AB25==>9 70@01>B=>9 ?;0BK. >E>4K :><?0=88 @0ABCB  7=0G8B, 4>;6=0 @0AB8 8 70@?;0B0. >A:>;L:C B0:>9 ?@O<>9 A2O78 =5B, >:>;> 60% =5 C4>2;5B2>@5=K @07<5@>< 45=56=>3> 2>7=03@0645=8O 8 A8AB5<>9 >?;0BK B@C40 2 F5;><. =>385 8ICB 2 @5H5=8OE @C:>2>4AB20 65;0=85 ?5@5@0A?@545;8BL ?@81K;L; =5A<>B@O =0 B>, GB> A8AB5<0 >?;0BK B@C40 8 @07<5@ 70@01>B=>9 ?;0BK =0 ?5@2>< <5AB5, <>@0;L=>5 (=5<0B5@80;L=>5) AB8<C;8@>20=85 ?>2KH05B B@C4>2CN 0:B82=>ABL, B0:>3> <=5=8O ?@845@68205BAO 1>;55 70% >?@>H5==KE; @07@01>B:0 <5@ =>2KE <5B>48: 8 A8AB5< >?;0BK B@C40 4>;6=0 ?@>8AE>48BL 3;0A=> 8 ?@5420@OBLAO A?5F80;L=K<8 8AA;54>20=8O<8 >1I5AB25==>3> <=5=8O, ?>72>;ONI8<8 ?@>3=>78@>20BL >68405<K9 MDD5:B 8 @50:F8N @01>B=8:>2.  ?@>B82=>< A;CG05 >:>;> 80% A>B@C4=8:>2   <>3CB >B@5038@>20BL =0 B0:85 ?@>F54C@K =530B82=>. ;020 3. K@01>B:0 @5:><5=40F89 ?> 040?B0F88 ?@>3@0<< <0B5@80;L=>9 <>B820F88 2  : CA;>28O< :@878A0 3.1. K@01>B:0 @5:><5=40F89 ?> A>25@H5=AB2>20=8N <0B5@80;L=>9 <>B820F88 =0 ?@54?@8OB88  CA;>28OE M:>=><8G5A:>3> :@878A0 =5>1E>48<K :0G5AB25==K5 87<5=5=8O A8AB5<K C?@02;5=8O ?5@A>=0;><, A>740=85 F5;>AB=>9 A8AB5<K <>B820F88 B@C40, :>B>@K5 ?@>48:B>20=K A;54CNI8<8 >1AB>OB5;LAB20<8. !>E@0=5=85 >1I59 G8A;5==>AB8 @01>B=8:>2 2 CA;>28OE :@878A0 4>;6=> 1KBL :><?5=A8@>20=> B0:65 1>;LH59 8=B5=A82=>ABLN B@C40, A;54>20B5;L=>, 1>;55 2KA>:>9 :20;8D8:0F859 @01>B=8:>2.  A2O78 A MB8< 2>7@0AB05B >B25BAB25==>ABL >B45;0 C?@02;5=8O ?5@A>=0;>< 2 2K1>@5 =0?@02;5=89 :20;8D8:0F8>==>3> @>AB0 @01>B=8:>2, 2 ?>2KH5=88 D>@< >1CG5=8O 8 AB8<C;8@>20=88 8E B@C40.  =>2KE CA;>28OE 70A;C68205B 2=8<0=8O A8AB5<0 C?@02;5=8O ?5@A>=0;><, >@85=B8@C5<0O =0 AB@0B538N :>>?5@8@>20=8O 8 @0728B8O :>=B@0:B=KE >B=>H5=89, :>340 >A=>2=>9 0:F5=B 2 C?@02;5=88 =5>1E>48<> ?5@5=5AB8 =0 C=8:0;L=K5 :>=:C@5=B=K5 ?@58<CI5AB20 ?5@A>=0;0 8 2=CB@8D8@<5==>9 :C;LBC@K, A>740205<K5 >@85=B0F859 =0 G5;>25G5A:85 @5AC@AK. -B8< 8 >1CA;>2;5=K ?@54;0305<K5 <5@>?@8OB8O ?> A>25@H5=AB2>20=8N <0B5@80;L=>9 <>B820F88 A>B@C4=8:>2   . 0: 284=> 87 8AA;54>20=8O A8AB5<K <0B5@80;L=>9 <>B820F88, ?@>2545==>3> 2> 2B>@>9 3;025, >:>;> 60% A>B@C4=8:>2 =5 C4>2;5B2>@5=K @07<5@>< 45=56=>3> 2>7=03@0645=8O 8 A8AB5<>9 >?;0BK B@C40 2 F5;><.  =0AB>OI55 2@5<O =081>;55 MDD5:B82=K<8 A?>A>10<8 AB8<C;8@>20=8O ?5@A>=0;0 <>6=> =0720BL A8AB5<C 3@594>2>9 >?;0BK B@C40 A A>?CBAB2CNI59 59 0BB5AB0F859. !G8B05BAO, GB> 3@0<>B=>5 8A?>;L7>20=85 A8AB5<K D>@<8@>20=8O >:;04>2 A?>A>1AB2C5B ?>2KH5=8N MDD5:B82=>AB8 8A?>;L7>20=8O D>=40 >?;0BK B@C40 =0 10-50%. @8 ?@>2545=88 0BB5AB0F88 2   4>;65= ?@8<5=OBLAO A;54CNI89 :><?;5:A=K9 ?>4E>4. BB5AB0F8O ?@>E>48B >4=>2@5<5==> ?> B@5< =0?@02;5=8O<  >F5=:0 45OB5;L=>AB8, >F5=:0 :20;8D8:0F88, >F5=:0 ;8G=>AB8. & & & & & .. 3.2. F5=:0 MDD5:B82=>AB8 ?@54;>65==KE <5@>?@8OB89 ;0= @50;870F88 ?@54;>65==KE @5:><5=40F89 ?@54AB02;5= 2 B01;8F5 3.5. "01;8F0 3.5 ;0= @50;870F88 @5:><5=40F89 ?> A>25@H5=AB2>20=8N A8AB5<K >?;0BK B@C40 2   & & & ;O @0AG5B0 MDD5:B82=>AB8 @07@01>B0==>3> ?@>5:B0 =5>1E>48<> ?@>25AB8 @0AG5B 8=B5=A82=>AB8 45=56=KE ?>B>:>2. 0AA<>B@8< :@8B5@88, >?@545;ONI85 MDD5:B82=>ABL @07@01>B0==>3> ?@>5:B0.  <8@>2>9 ?@0:B8:5 2 =0AB>OI55 2@5<O =081>;55 H8@>:> 8A?>;L7CNBAO A;54CNI85 48A:>=B8@>20==K5 ?>:070B5;8:  8=45:A ?@81K;L=>AB8 8;8 4>E>4=>AB8  PI; ?5@8>4 >:C?05<>AB8  PB; =25AB>@C A;54C5B >B4020BL ?@54?>GB5=85 B>;L:> B5< ?@>5:B0<, 4;O :>B>@KE G8AB0O B5:CI0O AB>8<>ABL 8<55B ?>;>68B5;L=>5 7=0G5=85. B@8F0B5;L=>5 65 7=0G5=85 A2845B5;LAB2C5B > =5MDD5:B82=>AB8 8A?>;L7>20=8O 45=56=KE A@54AB2, B0: :0: =>@<0 4>E>4=>AB8 <5=LH5 =5>1E>48<>9. "01;8F0 3.10 5=56=K5 ?>B>:8   >:070B5;L2010 3.2011 3.2012 3.2013 3.@8B>: 45=56=KE A@54AB2:95,9796,9397,9098,88- ?@8@>AB ?@81K;8, BKA. @C1.95,9796,9397,9098,88BB>: 45=56=KE A@54AB2:48,8448,8448,8448,84- 70B@0BK =0 2=54@5=85 ?@>5:B0, BKA. @C1.48,8448,8448,8448,84'8ABK9 45=56=K9 ?>B>:, BKA. @C1.47,1348,0949,0650,04>MDD8F85=B 48A:>=B8@>20=8O1,000,830,710,598A:>=B8@>20==K9 45=56=K9 ?>B>:, BKA. @C1. @C1.47,1340,0734,6429,69'8AB0O B5:CI0O AB>8<>ABL ?@>5:B0, BKA. @C1.47,1387,20121,85151,54 '8ABK9 45=56=K9 ?>B>: >?@545;O5BAO A>>B=>H5=85< D8=0=A>2KE 70B@0B 8 @57C;LB0B>2, >15A?5G820NI8E B@51C5<CN =>@<C 4>E>4=>AB8. @8 MB>< 2 :0G5AB25 MDD5:B0 2KABC?05B ?>B>: @50;L=KE 45=53. >B>:>< @50;L=KE 45=53 =07K205BAO @07=>ABL <564C ?@8B>:>< 8 >BB>:>< 45=56=KE A@54AB2 >B 8=25AB8F8>==>9 45OB5;L=>AB8 2 :064>< ?5@8>45 >ACI5AB2;5=8O ?@>5:B0. 0@0I5==K5 G8ABK5 45=56=K5 ?>B>:8 >?@545;ONBAO ?CB5< A;>65=8O ?@54K4CI53> 8 B5:CI53> @57C;LB0B>2. "0:8< >1@07><, G8AB0O B5:CI0O AB>8<>ABL ?@>5:B ?> 2=54@5=8N A8AB5<K 0BB5AB0F88 8 AB8<C;8@>20=8O ?@8=5A5B 151,54 BKA. @C1. ?@81K;8. "0: :0: G8AB0O B5:CI0O AB>8<>ABL ?@>5:B0 1>;LH5 =C;O, A;54>20B5;L=>, 40==K9 ?@>5:B M:>=><8G5A:8 MDD5:B825=. ;O 1>;55 ?>;=>9 >F5=:8 ?@>5:B0 @0AAG8B05< 8=45:A 4>E>4=>AB8 ?> D>@<C;5 (1): PI = ?@8B>: 45=56=KE A@54AB2 ?> ?@>5:BC / 70B@0BK =0 25AL ?@>5:B (1) =45:A 4>E>4=>AB8 (?@81K;L=>AB8) ?>:07K205B >B=>A8B5;L=CN ?@81K;L=>ABL ?@>5:B0, 8;8 48A:>=B8@>20==CN AB>8<>ABL 45=56=KE ?>ABC?;5=89 >B ?@>5:B0 2 @0AG5B5 =0 548=8FC 2;>65=89.  A>>B25BAB288 A B@51>20=8O<8 : 25;8G8=5 8=45:A0 ?@81K;L=>AB8 (@5=B015;L=>AB8): A;8 PI ( 1, B> ?@>5:B A;54C5B ?@8=OBL; A;8 PI ( 1, B> ?@>5:B A;54C5B >B25@3=CBL; A;8 PI = 1, B> <>6=> ?@8=OBL ;N1>5 @5H5=85. ;O @07@01>B0==>3> ?@>5:B0 (?@54;0305<KE <5@>?@8OB89) ?> ?@>2545=8N 0BB5AB0F88 A>B@C4=8:>2   8=45:A ?@81K;L=>AB8 A>AB028B: PI = 389,68 / 195,36 = 1,99 >;CG5==0O 25;8G8=0 ?>:070B5;O 8=45:A0 ?@81K;L=>AB8 A2845B5;LAB2C5B, GB> =0 >48= @C1;L 8=25AB8@>20==KE A@54AB2 ?@54?@8OB85 ?>;CG8B 1,99 2K@CG:8, B.5. 99 :>?. ?@81K;8. "0: :0: @07<5@ 8=45:A0 C4>2;5B2>@O5B B@51>20=8O<, B> ?@>5:B A;54C5B ?@8=OBL : @50;870F88. K2>4K : 3 3;025 0 ?@54?@8OB88   ACI5AB2C5B ?>B@51=>ABL 2 A?@0254;82>9 A8AB5<5 >?;0BK B@C40, =5>1E>48<> >:;04K 8 4>;6=>AB8 ?@825AB8 : 548=>>1@078N. ?8@0OAL =0 @57C;LB0BK 8AA;54>20=8O, 1K;0 2K1@0=0 3@594>20O A8AB5<0 :0: =>2H5AB2> 2 A8AB5<5 AB8<C;8@>20=8O ?5@A>=0;0. K; @0AAG8B0= 3@594>2K9 10;; 4;O :064>9 4>;6=>AB8 (10;;, >B@060NI89 ?>B@51=>ABL 4>;6=>AB8 4;O   ). 0B5< 2A5 4>;6=>AB8 3@C??8@CNBAO 2 7028A8<>AB8 >B 10;;>2 2 3@594K (5 3@594>2). =CB@8 :064>3> 3@5940 (=0G8=0O A> 2B>@>3>) CAB0=>2;5=K 2=CB@5=85 :20;8D8:0F88. 0@?;0B0 AB028BAO 2 7028A8<>ABL >B ?>B@51=>AB59   2 B5E 8;8 8=KE :0G5AB20E 8 A2>9AB20E @01>B=8:>2. ;O ?@0:B8G5A:>3> 2=54@5=8O 3@594>2>9 A8AB5<K 2 ?@0:B8:C @01>BK   =5>1E>48<> ?@>25AB8 0BB5AB0F8N A>B@C4=8:>2. AE>4O 87 ?@>2545==KE @0AG5B>2, 8B>3>20O AC<<0 =0 ?@>2545=85 0BB5AB0F88 @02=0 26808 @C1. >;CG5==0O AC<<0 ?@54AB02;O5BAO @07C<=>9, <>6=> =0G8=0BL ?>43>B>2:C. 0:;NG5=85 >42>4O 8B>38 @01>BK, <>6=> A45;0BL A;54CNI85 >A=>2=K5 2K2>4K > AB5?5=8 4>AB865=8O ?>AB02;5==KE 7040G. 7CG5=K B5>@5B8G5A:85 >A=>2K C?@02;5=8O M:>=><8G5A:>9 <>B820F88 ?5@A>=0;0 2 CA;>28OE :@878A0, 2 @57C;LB0B5 A45;0=K A;54CNI85 70:;NG5=8O. >B820F8O - MB> A>740=85 CA;>289, >:07K20NI8E 2>7459AB285 =0 ?>2545=85 G5;>25:0. >B820F8O ?@5A;54C5B F5;L A>740=8O =5>1E>48<KE CA;>289 8 AB8<C;>2 4;O =081>;55 ?>;=>9 @50;870F88 B@C4>2>3> ?>B5=F80;0 :064K< @01>B=8:>< =0 :>=:@5B=>< @01>G5< <5AB5. A>1CN 206=>ABL ?@8>1@5B05B >A>7=0=85 ;N4L<8 2KA>:8E 8 >1I5AB25==> 7=0G8<KE <>B82>2, B0:8E, :0: F5;L 2 687=8, ?@8720=85 8 B.?. !>45@60B5;L=K5 B5>@88 <>B820F88 1078@CNBAO, =0 ?>B@51=>ABOE 8 A2O70==KE A=8<8 D0:B>@0E, >?@545;ONI8E ?>2545=85 ;N459. "0:8< >1@07><, @01>B=8:8, >?8AK205<K5 B5>@8O<8 %, #, Z, >1@07CNB @07;8G=K5 3@C??K ;N459 8 ?@54?>G8B0NB @07;8G=K5 <>B82K ?>2545=8O 8 AB8<C;K ?>1C645=8O : B@C4C. 0 ?@54?@8OB88 ?@54AB02;5=K 2A5 B8?K ;N459, 8 ?@8<5=5=85 B>9 8;8 8=>9 :>=F5?F88 <>B820F88 >?@545;O5BAO C45;L=K< 25A>< @01>B=8:>2 :>=:@5B=>3> B8?0 2 3@C??5. !>45@60B5;L=K5 8 ?@>F5AAC0;L=K5 B5>@88 <>B820F88, ?@8 A>2<5AB=>< @0AA<>B@5=88, ?>72>;ONB ?>;CG8BL =081>;55 045:20B=CN :0@B8=C >B@0605<>3> O2;5=8O. @8G8=C M:>=><8G5A:8E :@878A>2 G0AB> CA<0B@820NB 2 =0@CH5=88 @02=>25A8O <564C A?@>A>< 8 ?@54;>65=85< =0 B>20@K 8 CA;C38. !;54AB285< M:>=><8G5A:>3> :@878A0 O2;O5BAO C<5=LH5=85 @50;L=>3> 20;>2>3> =0F8>=0;L=>3> ?@>4C:B0, <0AA>2K5 10=:@>BAB20 8 157@01>B8F0, A=865=85 687=5==>3> C@>2=O =0A5;5=8O. $8=0=A>2K9 :@878A, :0: G0ABL <8@>2>3> D8=0=A>2>3> :@878A0 AB0; 2>7<>6=K<, ?> <=5=8N =5:>B>@KE A?5F80;8AB>2, 87-70 ?@>87>H54H59 8=B53@0F88 @>AA89A:>9 M:>=><8:8 2 <8@>2CN M:>=><8:C, ;8O=85 D8=0=A>2>3> :@878A0 2 >AA88 =0 A515 >ICB8;8 ?@0:B8G5A:8 2A5 ?@54?@8OB8O.  A2O78 A M:>=><8G5A:8< :@878A>< C <=>38E ?@54?@8OB89 2>7=8:05B =5>1E>48<>ABL @07@01>B:8 =>2>9 AB@0B5388 C?@02;5=8O ?5@A>=0;><, 0 B0:65 AB@0B538N A>?@>B82;5=8O 87<5=5=8O< 8 C?@02;5=8O :>=D;8:B0<8, :>B>@K5 =587156=> 2>7=8:=CB 2 >@30=870F88 ?@8 ?@>2545=88 :0:8E-;81> =>2KE :04@>2KE ?@>3@0<<.  ?@>F5AA5 0=0;870 2KO2;5=K >A=>2=K5 ?@>1;5<K 2 C?@02;5=88 M:>=><8G5A:>9 <>B820F88 B@C40 2   : - <0B5@80;L=>5 AB8<C;8@>20=85 =0 40==>< ?@54?@8OB88 A;01> 2K@065=>, B0: :0: 2A5 =04102:8, ?@5<88, 4>?>;=8B5;L=K5 2K?;0BK 65AB:> ?@82O70=K : >:;04C, :>B>@K9 2 A2>N >G5@54L =5 >G5=L 25;8: (2 A@54=5< ?> >A:25 8 >1;0AB8); - A8AB5<0 AB8<C;8@>20=8O =5 ?@>7@0G=0 8 =5 ?>=OB=0 1>;LH8=AB2C A>B@C4=8:>2   , 0, A;54>20B5;L=>, @0AB5B =54>25@85 : @C:>2>4AB2C 8 8E 459AB28O<, ?0405B <>@0;L=K9 =0AB@>9 :>;;5:B820 8 ?@>872>48B5;L=>ABL B@C40. !D>@<C;8@>20=K A;54CNI85 @5:><5=40F88 ?> A>25@H5=AB2>20=8N C?@02;5=88 M:>=><8G5A:>9 <>B820F88 B@C40 2   : - ?@54;>65=0 3@594>20O A8AB5<0 :0: =>2H5AB2> 2 A8AB5<5 AB8<C;8@>20=8O ?5@A>=0;0; - @0AAG8B0= 3@594>2K9 10;; 4;O :064>9 4>;6=>AB8 (10;;, >B@060NI89 ?>B@51=>ABL 4>;6=>AB8 4;O   ). 0B5< 2A5 4>;6=>AB8 3@C??8@CNBAO 2 7028A8<>AB8 >B 10;;>2 2 3@594K (5 3@594>2). =CB@8 :064>3> 3@5940 (=0G8=0O A> 2B>@>3>) CAB0=>2;5=K 2=CB@5=85 :20;8D8:0F88; - 4;O ?@0:B8G5A:>3> 2=54@5=8O 3@594>2>9 A8AB5<K 2 ?@0:B8:C @01>BK   =5>1E>48<> ?@>25AB8 0BB5AB0F8N A>B@C4=8:>2. AE>4O 87 ?@>2545==KE @0AG5B>2, 8B>3>20O AC<<0 =0 ?@>2545=85 0BB5AB0F88 @02=0 26808 @C1. >;CG5==0O AC<<0 ?@54AB02;O5BAO @07C<=>9, <>6=> =0G8=0BL ?>43>B>2:C. >;CG5==0O 25;8G8=0 ?>:070B5;O 8=45:A0 ?@81K;L=>AB8 A2845B5;LAB2C5B, GB> =0 >48= @C1;L 8=25AB8@>20==KE A@54AB2 ?@54?@8OB85 ?>;CG8B 1,99 2K@CG:8, B.5. 99 :>?. ?@81K;8. "0: :0: @07<5@ 8=45:A0 C4>2;5B2>@O5B B@51>20=8O<, B> ?@>5:B A;54C5B ?@8=OBL : @50;870F88. "0:8< >1@07><, <>6=> A45;0BL 2K2>4, GB> ?@54;0305<K5 <5@>?@8OB8O ?> A>25@H5=AB2>20=8N C?@02;5=8O M:>=><8G5A:>9 <>B820F859 ?5@A>=0;0   2 CA;>28OE :@878A0 MDD5:B82=K A M:>=><8G5A:>9 B>G:8 7@5=8O. @8 MB>< =5>1E>48<> CG8BK20BL 8 A>F80;L=K9 MDD5:B MB8E <5@>?@8OB89 (>15A?5G5=85 ?5@A>=0;C =04;560I53> 687=5==>3> C@>2=O, ?>2KH5=85 C4>2;5B2>@5==>AB8 >B @01>BK, @50;870F8O 8 @0728B85 8=48284C0;L=KE A?>A>1=>AB59 @01>B=8:>2 8 B.4.).  ;N1>< A;CG05, 70B@0BK =0 A>25@H5=AB2>20=85 A8AB5<K C?@02;5=8O ?5@A>=0;><  MB>, ?> ACB8, 8=25AB8F88 2 G5;>25G5A:89 ?>B5=F80;, 0 MB> ?>;>68B5;L=> 2;8O5B =0 CA?5H=>ABL 45OB5;L=>AB8 2A59 >@30=870F88. @0:B8G5A:0O 7=0G8<>ABL @01>BK 2K@0605BAO 2 2>7<>6=>AB8 ?@8<5=8<>AB8 ?@54AB02;5==KE @5:><5=40F89 =5 B>;L:> 4;O 10=:>2A:8E >@30=870F89, => 8 4;O :@C?=KE 8 A@54=8E ?@54?@8OB89 ;N1>9 D>@<K A>1AB25==>AB8. "0:8< >1@07><, ?>AB02;5==K5 7040G8 @5H5=K, F5;L @01>BK 4>AB83=CB0. !?8A>: 8A?>;L7>20==>9 ;8B5@0BC@K >=AB8BCF8O >AA89A:>9 $545@0F88. - !!  ", 2010. "@C4>2>9 >45:A >AA89A:>9 $545@0F88 $.  !!  ", 2010. @0640=A:89 :>45:A >AA89A:>9 $545@0F88. - =D>@<0F8>==0O A8AB5<0 0@0=B, 2010. $545@0;L=K9 70:>= >AA89A:>9 $545@0F88  10=:0E 8 10=:>2A:>9 45OB5;L=>AB8.  .: -, 2010. $545@0;L=K9 70:>= >AA89A:>9 $545@0F88  &5=B@0;L=>< 10=:5 $ (10=:5 >AA88).  .: <530-, 2010. =AB@C:F8O & >AA88 >B 01.10.97 !1  ?>@O4:5 @53C;8@>20=8O 45OB5;L=>AB8 10=:>2. =D>@<0F8>==0O A8AB5<0 0@0=B, 2010. =AB@C:F8O & $ >B 16.01.2004 ! 110- (@54. >B 13.11.2007) 1 >1O70B5;L=KE =>@<0B820E 10=:>2. =D>@<0F8>==0O A8AB5<0 0@0=B, 2010. 4875A . #?@02;OO 87<5=5=8O<8.  !1.: 8B5@, 2008. ;025@4>2 . . #?@02;5=85 ?5@A>=0;><: CG51. >A>185  .: 0@:5B !, 2007.  304 A. @<AB@>=3 . @0:B8:0 C?@02;5=8O G5;>25G5A:8<8 @5AC@A0<8. 8-5 874./ 5@. A 0=3;. ?>4 @54. !..>@428=0.  !1.: 8B5@, 2008. - 832 A. D0=0AL520 .., 02@CH8= .. 0=:>2A:>5 45;>: A>2@5<5==0O A8AB5<0 :@548B>20=8O. #G51=>5 ?>A>185 4;O #>2 (874.: 5).  .: => CA, 2009. 065=>20 .. >B820F8O 8 AB8<C;8@>20=85 =0 ?CB8 : CA?5EC D8@<K.  .: !", 2009. 070@>2 "... #?@02;5=85 ?5@A>=0;><. @0:B8:C<.  .: .=8B8-0=0, 2010. 0@@5B 51>@0 6. A?>;L7>20=85 AB@0B538G5A:>9 :><<C=8:0F88 A A>B@C4=8:0<8 ?@8 ?@>2545=88 3;>10;L=KE >@30=870F8>==KE 87<5=5=89. //#?@02;5=85 G5;>25G5A:8< ?>B5=F80;><, 2009, ! 1. 0A>2A:89 .. -:>=><8G5A:89 0=0;87 (><?;5:A=K9 M:>=><8G5A:89 0=0;87 E>7O9AB25==>9 45OB5;L=>AB8). #G51=>5 ?>A>185.  .: =D@0-, 2009. 5A=8= . . A=>2K <5=546<5=B0.  .: @>A?5:B, 2009. 8E0=A:89 .!., 0C<>2 .. 5=546<5=B: #G51=8: - 2-5 874., ?5@5@01. 8 4>?.  .: 038AB@, 2009. >;:>2 . @30=870F8O <>=8B>@8=30 @0A?>7=020=8O :@878A=KE ?@>F5AA>2 2 <5=546<5=B5 8 A>740=85 ?@54?>AK;>: CA?5H=>9 @07@01>B:8 8 @50;870F88 0=B8:@878A=KE <5@. //5=546<5=B A53>4=O, 2008, ! 3. >@>=>2 .. -:>=><8:0 8 D8=0=AK ?@54?@8OB8O: #G51=8:.  .: 740B5;LAB2> !, 2009. >AB@8:>20 . ><<5=B0@89 : $  10=:0E 8 10=:>2A:>9 45OB5;L=>AB8.  .: .AB8F8=D>@<, 2009. >@1C=>20 ... 04@>2K9 <5=546<5=B 8 ?A8E>;>38O C?@02;5=8O: :@0B:89 :C@A ;5:F89.  .: ;04>A-@5AA, 2008. >:;04 1 M:>=><8:5 >AA88 ! 18. //A5<8@=K9 10=: 2 >AA88, <0@B, 2009 3. 38HLO=F !. @878AK 2 @K=>G=>9 M:>=><8:5. //$8=0=A, !28, 2008. C@02;52 .., C;0?>2 .., !CE0@52 !.. 8@>2>9 >?KB 2 C?@02;5=88 ?5@A>=0;><. 17>@ 70@C156=KE 8AB>G=8:>2. - .: @>3@5AA, 1999.  752 A. C1 ."., 09F520 ".. #?@02;5=85 ?5@A>=0;><.  .: =D@0-, 2010. 20=>20 !.. >B820F8O =0 100%  345 65 C =53> :=>?:0? - .: ;L?8=0 87=5A C:A, 2007. - 288A. 20=>20 !.., >;4>3>52 .. >B820F8O 8 55 70304:8. //>B820F8O 8 >?;0B0 B@C40, 2007, ! 23. 0=48=A:0O . <5@8:0=A:89 :@548B=K9 :@878A A5=BO1@O 2008 3>40 8 53> ?>A;54AB28O 4;O <8@>2>9 M:>=><8:8. //#?@02;5=85 :>@?>@0B82=K<8 D8=0=A0<8, 2008, ! 6. 810=>2 ./., C@0:>20 .. #?@02;5=85 ?5@A>=0;>< >@30=870F88: AB@0B538O, <0@:5B8=3, 8=B5@=0F8>=0;870F8O: #G51=>5 ?>A>185.  .: =D@0-, 2010. >;5A=8:>2 .. !>25@H5=AB2>20=85 <>B820F88 MDD5:B82=>9 45OB5;L=>AB8 @01>B=8:>2 3>AC40@AB25==>3> ?@54?@8OB8O 2 CA;>28OE @5D>@<8@>20=8O M:>=><8:8.  ., 1999. >=8=0 .. >B820F8O ?5@A>=0;0: ?@82;5G5=85, C45@60=85 8 MDD5:B82=K9 B@C4. //>B820F8O 8 >?;0B0 B@C40, 2006, ! 3. >BB5@ 6. 0B3515@ %. 0H 09A15@3 B05B, 8;8 0: 4>18BLAO @57C;LB0B0 2 CA;>28OE 87<5=5=89. - .:  HYPERLINK "http://www.ozon.ru/context/detail/id/857671/" \o "740B5;LAB2>" -:A<>, 2008. @>;825F:0O .., "8E><8@>20 .. 0=:>2A:>5 45;>: :@548B=0O 45OB5;L=>ABL :><<5@G5A:8E 10=:>2.  .: => CA, 2009. @NG:>2 . B> 2 >B25B5 70 45<>B820F8N ?5@A>=0;0? // http://www.4izmerenie.com C7=5F>20 .., 0@8=0 .. 0=:>2A:>5 45;>: ?@0:B8:C<. #G51=>5 ?>A>185 4;O #>2.  .: => CA, 2009. 02@CH8= .., @54. 0=:>2A:>5 45;>. #G51=8: 4;O #>2 (874.: 8).  .: => CA, 2009. >38=>2 ., (CE<0= . !>2@5<5==K5 <5B>4K C?@02;5=8O :><?0=859: >@30=870F8>==>5 @0728B85 8 C?@02;5=85 ?5@A>=0;><. //#?@02;5=85 @0728B85< ?5@A>=0;0, 2008, ! 2. 03C@0 . C@10B>20 . !5:@5BK <>B820F88 8;8 <>B820F8O 157 A5:@5B>2  .:  C@=0; #?@02;5=85 ?5@A>=0;><, 2007. - 656 A. 0:A25;; 6. >B820F8O @5H05B 2A5.  .: >?C@@8, 2009. 0A;>C . >B820F8O 8 ;8G=>ABL: ?5@. A 0=3;.  !1.: 8B5@, 2009. 0H8= !. A>15==>AB8 8 ?5@A?5:B82K =0F8>=0;L=>3> <5=546<5=B0. //5=546<5=B A53>4=O, 2008, ! 5. 5A:>= . ;L15@B , %54>C@8 $. A=>2K <5=546<5=B0. /5@. A 0=3;. - .: 8;LO<A, 2008. 8;L=5@ .., 25=:> .., 0??>?>@B .!. !8AB5<=K9 ?>4E>4 8 >@30=870F8O C?@02;5=8O. - .: KAH55 >1@07>20=85, 2008. C@04>20 !.(. 0=:>2A:>5 45;>.  .: $5=8:A, 2009. 75@=8:>20 ".. 5B>48:0 4803=>AB8:8 B@C4>2>9 <>B820F88 ?5@A>=0;0 >@30=870F88. // >B820F8O 8 >?;0B0 B@C40 HYPERLINK "http://grebennikon.ru/journal-24.html" .  2008. - ! 4.  !. 18. ;LE>20 .. 0=:>2A:>5 45;>: C?@02;5=85 2 A>2@5<5==>< 10=:5. #G51=>5 ?>A>185 4;O #>2.  .: => CA, 2009. 0A?;0B0 70 8=B53@0F8N. // 54><>AB8.  2008.  13>:BO1@O. >4G5=:> .. 564C=0@>4=K9 <5=546<5=B: #G51=>5 ?>A>185  2 874. - .: #, 2002,  240 A. !>;><0=848=0 ".. >B820F8O B@C4>2>9 45OB5;L=>AB8 ?5@A>=0;0. 2-5 874., ?5@5@01. 8 4>?.  .: .=8B8, 2009. !B5?0=F>20 .. -DD5:B82=0O A8AB5<0 <>B820F88. // >B820F8O 8 >?;0B0 B@C40.  2008. - ! 3. !B@>8B5;520 ".. >2K5 ?>4E>4K : @07@01>B:5 :04@>2>9 ?>;8B8:8 ?@54?@8OB89, >?@545;ONI85AO CA;>28O<8 M:>=><8G5A:>3> @>AB0. //#?@02;5=85 ?5@A>=0;><, 2008, ! 9. !C@:>2 !., >9:> .., C:0H52 . A>15==>AB8 <>B820F88 ?5@A>=0;0 2 ?5@8>4 ?@>2545=8O 87<5=5=89. //>B820F8O 8 >?;0B0 B@C40, 2008, ! 10. ">:0@520 .. >2KH5=85 MDD5:B82=>AB8 45OB5;L=>AB8 >@30=870F88 =0 >A=>25 A>25@H5=AB2>20=8O <>B820F88 ?5@A>=0;0 2 CA;>28OE @K=:0.  !1.: >@<0, 2008. "NBN==8: . 0=:>2A:>5 45;>: >?5@0F88, B5E=>;>388, C?@02;5=85.  .: ;L?8=0 87=5A C:A, 2010. $0BECB48=>2 .. ;>10;L=0O :>=:C@5=B>A?>A>1=>ABL: 0 AB>; A>2@5<5==><C @C:>2>48B5;N - (81;8>B5:0 A5@>AA89A:>9 @30=870F88 0G5AB20). - .: 74.:  !B0=40@BK 8 :0G5AB2>, 2009. -464 A. (5:H=O !. >B@>B>2 . 8 4@. 5BA 45 @8A . >2K5 ;845@K @>AA89A:>3> 187=5A0.  .: ;L?8=0 87=5A C:A, 2005. (:0BC;;0 .. 0AB>;L=0O :=830 <5=5465@0 ?> :04@0<. - .:  -$ , 2004. (CH:528G !. 708<>459AB285 A ?5@A>=0;>< 2 :@878A=>9 A8BC0F88. //#?@02;5=85 G5;>25G5A:8< ?>B5=F80;><, 2009, ! 1. /:>2;520 ".. >B820F8O ?5@A>=0;0. >AB@>5=85 MDD5:B82=>9 A8AB5<K >?;0BK B@C40.  !1.: 8B5@, 2009. /<?>;LA:0O .., >=8A .. 5=546<5=B.  !1.: ;<0-@5AA, 2009. /E>=B>20 .!. !8AB5<=K9 ?>4E>4 : <>B820F88 ?5@A>=0;0. //5=546<5=B A53>4=O, 2008, ! 4. finansovyi-krizis.ru AB>G=8:: www.finansovyi-krizis.ru  ">:0@520 .. >2KH5=85 MDD5:B82=>AB8 45OB5;L=>AB8 >@30=870F88 =0 >A=>25 A>25@H5=AB2>20=8O <>B820F88 ?5@A>=0;0 2 CA;>28OE @K=:0.  !1.: >@<0, 2008.  !. 41.  ;025@4>2 . . #?@02;5=85 ?5@A>=0;><: CG51=>5 ?>A>185.  .: 0@:5B !, 2007.  !. 9  03C@0 . C@10B>20 . !5:@5BK <>B820F88 8;8 <>B820F8O 157 A5:@5B>2  .:  C@=0; #?@02;5=85 ?5@A>=0;><, 2007.  !. 361.  @<AB@>=3 . @0:B8:0 C?@02;5=8O G5;>25G5A:8<8 @5AC@A0<8. 8-5 874./ 5@. A 0=3;. ?>4 @54. !..>@428=0.  !1.: 8B5@,2008.  !. 154.  !>;><0=848=0 ".. >B820F8O B@C4>2>9 45OB5;L=>AB8 ?5@A>=0;0. 2-5 874., ?5@5@01. 8 4>?.  .: .=8B8, 2009.  !. 31.  /<?>;LA:0O .., >=8A .. 5=546<5=B.  !1.: ;<0-@5AA, 2009.  !. 42.  5A:>= . ;L15@B , %54>C@8 $. A=>2K <5=546<5=B0. /5@. A 0=3;. - .: 8;LO<A, 2008.  !. 74.  /E>=B>20 .!. !8AB5<=K9 ?>4E>4 : <>B820F88 ?5@A>=0;0. //5=546<5=B A53>4=O, 2008, ! 4.  !. 31.  >=8=0 .. >B820F8O ?5@A>=0;0: ?@82;5G5=85, C45@60=85 8 MDD5:B82=K9 B@C4. //>B820F8O 8 >?;0B0 B@C40, 2006, ! 3.  !. 12.  /<?>;LA:0O .., >=8A .. 5=546<5=B.  !1.: ;<0-@5AA, 2009.  !. 62.  0@@5B 51>@0 6. A?>;L7>20=85 AB@0B538G5A:>9 :><<C=8:0F88 A A>B@C4=8:0<8 ?@8 ?@>2545=88 3;>10;L=KE >@30=870F8>==KE 87<5=5=89. //#?@02;5=85 G5;>25G5A:8< ?>B5=F80;><, 2009, ! 1.  !. 24.  8;L=5@ .., 25=:> .., 0??>?>@B .!. !8AB5<=K9 ?>4E>4 8 >@30=870F8O C?@02;5=8O. - .: KAH55 >1@07>20=85, 2008.  !. 31  0A?;0B0 70 8=B53@0F8N. // 54><>AB8.  2008.  13>:BO1@O.  >:;04 1 M:>=><8:5 >AA88 ! 18. //A5<8@=K9 10=: 2 >AA88, <0@B, 2009 3.  @NG:>2 . B> 2 >B25B5 70 45<>B820F8N ?5@A>=0;0? // http://www.4izmerenie.com  20=>20 !.., >;4>3>52 .. >B820F8O 8 55 70304:8. //>B820F8O 8 >?;0B0 B@C40, 2007, ! 23.  !. 16-18.  0A>2A:89 .., 0A>2A:89 .., C=520 .. -:>=><8G5A:89 0=0;87 (><?;5:A=K9 M:>=><8G5A:89 0=0;87 E>7O9AB25==>9 45OB5;L=>AB8): #G51=>5 ?>A>185.  .: =D@0-, 2009.  AB@. 92.  >@>=>2 .. -:>=><8:0 8 D8=0=AK ?@54?@8OB8O: #G51=8:.  .: 740B5;LAB2> !, 2009.  AB@. 69.  "0< 65.  AB@. 71.     > H R |   $$Ifa$gdM      7.... $IfgdMkd$$IfTlֈG P v%}& t%644 la[p<ytMT      .kd$$IfTlֈG P v%}& t%644 la[p<ytMT $IfgdM      .kd$$IfTlֈG P v%}& t%644 la[p<ytMT $IfgdM H J L N P R  $IfgdMR T     7.... $IfgdMkd$$IfTlֈG P v%}& t%644 la[p<ytMT      .kd2$$IfTlֈG P v%}& t%644 la[p<ytMT $IfgdM      .kd]$$IfTlֈG P v%}& t%644 la[p<ytMT $IfgdM   Llx:tvF$ (#dh`a$gdM$a$gdM$a$gdMgdM$dh`a$gdM $dha$gdM$dh`a$gdMgdMXl  tvt$|$$$$&&`)d))),&,.-r7t7J888DD0F@FFFGG4J6JJJ MMMtMԼԼԼԼԔ싔~ԋhfhMCJmH sH hfhMCJjhfhM0JUhfhM5CJ$^JaJ$hMCJaJmHnHuhfhMCJaJmHnHuhMCJaJhfhMCJaJhfhMCJ$^JaJ$hM hfhMhfhMaJ.F"$0$t$|$$$)+.--./f35$ & F dh^a$gdM$dh`a$gdMgdM$dh`a$gdM$ (#dh`a$gdM$ (#dh`a$gdM$ (#dh`a$gdM5r7t7J888|:J=?@nCD0F@FFF4GLG$dh`a$gdM$dh`a$gdM$dh`a$gdM$dh`a$gdM$dha$gdMgdM$ & F dh^a$gdMLGGGH8JJJLLM4MDMTMdMtM$$Ifa$gdMl $dha$gdM$dh`a$gdM$ & F0dh`0a$gdM$ & F0d`0a$gdM$dh`a$gdM$dh`a$gdMtMvMM+$IfgdMlkdG$$IfTlrq5$0)%644 lap2ytMTtMvMMMDNFNNN,O.OOOPPPP"Q$Q&QSSTTTWXXXYYYYZL[`[[[[ \"\n]]]]]^^2^``xbͿͱ́́hfhMCJaJmHnHuhfhMCJ$^JaJ$ hMCJhfhMCJmH sH  j<hfhMCJaJ j>hfhMCJaJhfhMCJaJjhfhM0JUhfhMCJ hfhMhfhMCJaJ2MMMMM$$Ifa$gdMlMMN+$IfgdMlkdƇ$$IfTlrq5$0)%644 lap2ytMTN N,N8NDN$$Ifa$gdMlDNFNvN+$IfgdMlkdE$$IfTlrq5$0)%644 lap2ytMTvNNNNN$$Ifa$gdMlNNN+$IfgdMlkdĈ$$IfTlrq5$0)%644 lap2ytMTNOO O,O$$Ifa$gdMl,O.OpO+$IfgdMlkdC$$IfTlrq5$0)%644 lap2ytMTpO|OOOO$$Ifa$gdMlOOO+$IfgdMlkd‰$$IfTlcrq5$0)%644 lap2ytMTOOOOP$$Ifa$gdMlPPdP+$IfgdMlkdA$$IfTlRrq5$0)%644 lap2ytMTdPpP|PPP$$Ifa$gdMlPPP+$IfgdMlkd$$IfTlrq5$0)%644 lap2ytMTPPQQ"Q$$Ifa$gdMl"Q$Q&Q+&gdMkd?$$IfTlHrq5$0)%644 lap2ytMT&QT WWXYYffffffgghhiiiij j jkk l"lll0m2mmmvnxnvvvwwwwNx`xfyhyjyyyFzJzdzzzȚhMCJaJmHnHuhfhMCJNHaJhfhMCJNHhfhMCJhMCJaJhfhM5CJ$^JaJ$ hfhMhfhMCJaJmHnHuhfhMCJaJ<e6e8efggjtmnpLr4uvwhyJzz|}.$  dh`a$gdM$dh7$8$H$`a$gdM$dh`a$gdMgdM$dha$gdMzzz{{|||}}}}}.xzƀ܀2:<Ĉ8 ,0V̊.0TjlVXbd24׫׫׫׫׫׫׫מדמׄׄׄׄjhfhMCJUaJhWY6hMCJaJhfhMCJNHaJhMCJaJhfhM5CJ$^JaJ$ hfhM hMCJhfhMCJhfhMCJaJhMCJaJmHnHuhfhMCJaJmHnHu3.2Ȃ":<j ʊ$ & F hdh^ha$gdM$dha$gdMgdM$ dh`a$gdM$dh`a$gdM$dh`a$gdMdVj֔—~Tl ʜ؟tZ$ & F thdh^ha$gdM$ & F hdh^ha$gdMZȥt`^ҭ"گf޴$ & F thdh^ha$gdM$ & F thdh^ha$gdM$ & F hdh^ha$gdM"02rt<np&(νӻӳӳә}laPEhuEhMCJaJ!jhuEhM0JCJUaJhahMCJaJ!jhahM0JCJUaJhbhMmH sH  hbhMjhM0JUhMh^yAhMCJaJhhMCJaJhMCJaJhfhMCJNHaJhWY6hMCJaJhfhMCJaJjhfhMCJUaJ#jhfhMCJUaJt>ºp&Խ־j.$a$gdM$a$gdM$ & F thdh^ha$gdM$ & F hdh^ha$gdMνнԽֽ¾ľƾԾ־ؾVjln.02tz~ h6hMjh6hM0JU hQNhM hfhM hQnhMhMjhM0JUhwhzhMCJaJ!jhwhzhM0JCJUaJh%hMCJaJ!jh%hM0JCJUaJhuEhMCJaJhMCJaJ,z$a$gdM$a$gdMz|tʿ۸}la]U]U]U]U]jhUhhS;hMCJaJ!jhS;hM0JCJUaJ hS;hMjhS;hM0JU hhM h5ZhMhMjhM0JUh5hMCJaJ h5hMh uhMCJaJ!jh uhM0JCJUaJhMCJaJh6hMCJaJ!jh6hM0JCJUaJ!,1h. A!"R#n$n% }DyK _Toc262017587}DyK _Toc262017587}DyK _Toc262017588}DyK _Toc262017588}DyK _Toc262017589}DyK _Toc262017589}DyK _Toc262017590}DyK _Toc262017590}DyK _Toc262017591}DyK _Toc262017591}DyK _Toc262017592}DyK _Toc262017592}DyK _Toc262017593}DyK _Toc262017593}DyK _Toc262017594}DyK _Toc262017594}DyK _Toc262017595}DyK _Toc262017595}DyK _Toc262017596}DyK _Toc262017596}DyK _Toc262017597}DyK _Toc262017597}DyK _Toc262017598}DyK _Toc262017598}DyK _Toc262017599}DyK _Toc262017599}DyK _Toc262017600}DyK _Toc262017600}DyK _Toc262017601}DyK _Toc262017601}DyK _Toc262017602}DyK _Toc262017602}DyK _Toc262017603}DyK _Toc262017603}DyK _Toc262017604}DyK _Toc262017604$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ /  / a[p<ytMT)$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ / / /  a[p<ytMT)$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ / / /  a[p<ytMT)$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ / / /  a[p<ytMT)$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ / / /  a[p<ytMT)$$If[!vh55555}5&#v#v#v}#v&:V l t%6,555}5&/ / / /  a[p<ytMTnDd!D>  C Ab-n-r."]%S nnn-r."]%SPNG  IHDRCk]L sRGB pHYs+mIDATx^|\՝=}FZ]{f e!Cؔ>쓼g-}.e!$ M.rl5wi3cI+g>{=9`0hK! n tsB@Q2)B@!oƈŊ7|F}Lb/8qH%+++۱cǦMFIB@]3g444l߾Jk׮m۶eff8u! ]n/W2']Y-B@=dc/%B@E@lt姤F!0< ! FQѕ! # J6\R,]DFW~Jjc(sIB`t%])B@=dc/%B@E@lt姤F!0< ! FQѕ! # J6\R,]DFW~Jjc(sIB`t%K S"BÏD` =7S N~Gʒu\)4H%Gsqooo $$A1ə  zW?aæG@@[[ۡN^R2W? u .JpZyk;:ڗ.[ ]kllXllNpNX}G&~&zD%K  qf(Y3熆'O?~dt$)4ؿxu)(YWgǡyyK C-kmm|mɏML1z 1:7΋QLJV_Wt KJJP2]LZ3~RWWs#G fII#( ! % c܏=c5uV{f7ɉ*3Q$S޽;wjmowgY$CB@ d Ffb08w ;YQa4K7$ PF99WH˰eD1q%$! F+QDZ.vFL!K CM@,axٷzў&#q.!0f7Y~ĉ{4F`/v]1E@8f7Y.λݎL>1 ! >" JeYP6MMM):^{Zj2 K! >N@L\~SfKhz x$(6%NV=sg}c4Q"(H QݻwC|ހg;RB JF j`gG >}^;zXh<,.Q{oii9v]=}}OQHc@rhdS8\Tk 2gO)3IL۬%Ӗ!J%C:\:wm{0FjLK@0l_~iʏ>y/J!̐WQ*Y'xsf:4x'@z:|l+mK;΋iKdŒV_Yo3,@B 5wW{lq(R&Þp$y22JL+Oj|{FwB@<ή~Wo Glel%*Dɴ"f[cqM5[m/ !jn x!8033}}IßOL%ӊdJ^ƧOVlh }^wπ2լHLuEɴG A--kB`0Jfz3%K]`TWM_@$O:jP0k>lq!w^R>7ygoRʥ'KlRVDQb#m̷;2t~hD_ 5߷Wkqd4lXyՋnuZ@FFjF8&`=d t_8_#-MM%ّiyɓ(}jhhx/9e7r+J{v:P8pʥ4y'owuXKt6O%Y#B``-v#HɌ}8[A 9%sOHKC238RJh/?2~;u , =Ç3g#]8mk>L.d>(%{^8h~g¶!|x01k!^_ t#(% mAELFe0P0tΝ;z>`3fd&,BUω p2utEpczfzOE*"Z05Hp]beXbnRA+YUUܹs'ٶmx2z;wp3ǜIx|!+! F' ٔn F !6yy7mjii:u믽)kkk-;th֬3fڿrx >Bx~7xn֥ԃL]vѾM_:±zꩧ={]*-aӀ07"( qf4&.{ ( !0r4ngWGC0H'/;}ü}*>kx/kM`B?WEUz_k&­6=x`߭ݱ`"s_ݖ[ˣ 3kGSn-~xΜme^7^kl~rF};7nX_RR2rh#atOC!cYf o}`Tdl{%[>B@J}Jb1YݒiW("#0 #,ZY/]]]=]q[Ν7;L^44\XWݷ_xx^G=cKȜ:u+W<9.u|b{'ET^[7BANzVz\櫚jjYZS}VhxqybgX_P2Fk߾=~WiXk!\ug||EݵJsD&$lv@Eɮ(vJZ1՝Rݻ; <.[!_|qX B8`1MhgJ9f/'@J-%3 x{on1?7ZUw`Ji닜(Y󨿒E2Tb!7~-[ vNc .\nݴi0`r?lk8H4Y`4|0펴e Kx纀]L۬ 4̓i k}2wսGϵ(r !0Z 0me`%Ȏ}0T>eWͫ%6EF3>!1UV}BgtaB@&ȶVy &Gz%s WW%6DFsXJTY+pם\32Nu*$ #/Z<\@Xߜ;b1UƞsgOk͞(c~鰔N`eW[{E|0++o'L}'Ҳ#'[@1FXmC5=3kSs䚄deRJ)"9 {g:, '˽LaEQawNEɢF5*YHؾt{>phY)=]4-ǎ8yjɼG򣇲.¶wuvY""zϝhxq8R07#dȵѣdC o ߼%_J wϙ?w9$w,Y21Ie͛om$$Y oZIIAŌnG %~ ! u^",%x"I# J4B@hB@LB@$(YKB@! Q2M0'B@!4dIC/ ! &D4(! @% ,%x"I# J4B@hB@LB@$(YKB@! Q2M0'B@!4dIC/ ! &D4(! @% ,%x"I# J4B@hB@LB@$(YKB@! Q2M0'B@!4dIC/ ! &D4(! @% ,%x"I# J4B@hB@LB@$(Y@KK='ŝB@ē(Yt^oEE[}׎;WVFB@x%j-))ڸq3}R ! @< EKd2f̘N! I@,to! ?Q3B DIWB@%?c A! I@,to! ?Q3B DIWB@%?c A! I@,t+<^6' rJHP5`*c0]vm۶-33s2r].W}i91^q#}C~.Z,;;1H=`SSΘ0qrE1 ==+M: []u{ђA`[ s&ZQ:{=S'k/lelNT 7~\8\vƛoOO>+ݹqz6K(o߾=">ddPJk۽}.!4>!|^j[,(N1In XiIEKr$(VqĂ{n\5gZ%-JԌ(Y*B|1V;\Y\.R@v{=. ~n_1nz֤Bzfdd C4J`a4[.R@u;;[m&sVvkzYWdd C4Jؙ&4KzIc=y{ڛ\o#*rmn̯~ (Y*d(Y*B|pE%ÌWp:&b;S@0vvw4Tq3rknZP,lKɢ2%J}C̸]t{Zb;f #>OoxdmB}kV( JL=AGv0YcM6d%]AÆ["Vĥc(ТlFE>B` 0Y!BB5^WӾc(9bd(ac@hpvzc7Z:zu& J}3I2&dG,萱;@;T1u3Ѿc( fkZb;/R!`40xz!oQ5C^_4h_1QL Jn@O>ٳc}.lV{Zh_"`𳩇cVbHŤ%Zɐ~׷-F\\B``h= d1*$"U $ZBL +::::;;G1&I2Q>B` 0^w0 mE蜘^|̸h8|?RUJ12qDd/c=O|k_ VxF=9a=( >ٷlbL(z䉣G=s۫dK.lq vƞzw}rҤIgzMKjjkk6GD0\l1vrYMP.!06`nkt_ǥʒaEɸ!V-M]aOwѣu' FSvxgsΞ< &fB` Oy\CvYV%'#ƃhdžnyKfV -Ύ)+;̬YƛK-Di |#el5Ѫr&:챜bJߋ Wz .Z`akk8zlo\hMuuuVWW=EzVGM2u%K鐩y*..JS2C͙3yKG$A(y~믿^QQo} MVK7q} >!fW)%3m Gl՜}?R9cht9gh41(2qgo2/3w|%OBnΝٿocG.ժQ"~ez+V[u{xluT(|سg2n;3>裔}{aC>3as_=vHz2O|"'cC$$+#f1VP,rz_=dW]F#==cA=z̙'ʛ4-̮7x^x?~ [.S]U^~:ϸ"f {aMT}lGSIM7˗dٲe/' b b׿UUUa!~7b̛wj'nx`Ln߾7vm~_1`1Ye?`!Gt|Ζ5z2#ͱl̕ ]1M5~„JLV4~|nn^v{Z[[Ϟ=}՚ӦP0؈)M׎?x5֮[MϘv݆׬-,.J9} ;;м%Keeeb+!,>hm?`m۶xIXĆy?r3^;ShDW2O8ypڵW Qn‰ ;}JCC 7[n}#Bn6J;}r#cHyD0 ǒ]<Cu]y N`gF8GUՅ]s>j.wCu~}GJW`׿Wz޻o?ܳ/N'?igĮf*xtZ[ZorI7|;εA&'m^!ט;v؎.ӟ2W^ioo&z!d k֬/DT~җwa1|^F cAJs'ˉTT`<ƛ1v 'L}NkiiFWC'u5K1f3WSS|jkjX76uԬ7bf_P " ObK<?I蓱dKKK32B*-PL{9fΜɀ lt%axc쥗^R޽[b5>'6-Vů܊ϩHt87j]X2϶< b6`X۷Q!mǍ+RؑlM5sJz?tvukc|rAAs睟,Srbݮ;iH Hw}}jbԽ.xcW\"&}xPzA(1aĬPIPϟO~{a8q….Y`\>LJX botRbE'[AV|E gjN"B8g\T~'NbZ=-́bC}betcw~ 2h;0TXXm;o>'F >S{pqofd<9D`go{֬Yw}7s]$ş(Fd4Q].1 ae"#y| Y64,'-f {STXކ1 pSًEi^6]Q;2>y ̥O+>2D, JR\\ D )4Z0=vN6ņ;ww^aY%EEj0a!r UwOyq l|f bqG)~+t&# 02F1uRѤV(q/!>qLfE0gɟL2e7PaW_}5O?e˖>U{\L6>CNǻz>1.;GF$@0h -DM='7lZ1'?%%"՗~ ^ schDIc"Lģ KɈ@'\];}#>Haf[ї,6{ɬi~xk^vT+DR!Eɮ {=Nu;FsMChHdNWحLkߩvt"*a $\>GŖ9 оXw nZb6Ge,-JL ^ !?C5b"cHp^^dBE/ j*WВ˕c{êu Q$J%:% /s|+V ]+YC/&Ӌ1kZ܇+[Z5he54~O2<4* V[,'ďm>+{>]MGç`vf w]| 2Q(Aՙ(PxiتꦛnW;pʄl'v 0^L%ãkۼM}\Q]!g3JDwW`ޞ5lSԷU/λX MD1br;g̘r@ zf1&͘T0}bb"J6,\qr,J6X^YIFo 1?ͮ 62xС^x#8劶pfDϢ 3Qmƣo[>x+lpMё99yHH^1Vndk銎 &yg7_] 0я~??lv\řCsb`ёO(lXRJv-CuLg"du.3|*YgǡyyKL$= bEfѲ7ݦJ, K_J)forzqxERIB L JF̙3W]uCv&"B V? ƶUlܘZC! V2E5dկ~˾/o(1H+61Gvz8#B@!0 $ZXTwu-cDIB fV2"J[oʣũbs.ʃB@L J6qKڅB@sd#B D[B@ iT<B@%K(n L! 4' J9RP! J@,%0! М(HC! H(QB@sd#B D[B@ iT<B@%K(n L! 4' J9RP! J@,%0! М(HC! H(QB@sd#B D[B@ iT<B@%K(n L! 4' J-`0r:NN! I@,Z>{FB@x%.}2!l>)B Dɢk-Z[攔DB@x%]h5'ũB@č(YЊB@!d ,! @ x, ! JB@č(YЊB@!d ,! @ x, ! JB@čM{^VVk׮m۶eff-P{nUePzzHG> L P hn?zy3fc ݝG K-c8ymѐ,fnxN,Th﫮:7ߞ'+ݹqv߿|(Db)+27v;]RF3ʮ!NKKK%N~tw55e&;:14=n(4)S',6d*͘R7sraaރEqC$J 8DdX+pSp7 zb1h㊹w߰|$۹/Y,zVzu9Mӭ>xjsz~!4YSL_mꄼ.J3: %fz.ߡ:Ϛo2[S4%-!0Apw5 d4efgqnZXEF'=*Jʔ(%sy.j]֌\A6O̔J ;}7|j-_}McL,,9Q2-i_WT2l;;&kT՞X |]͵-uAoYw&yI{ySc_)YM4m6;*bQXbF{A>g19i;n^}|Ā~lIظ .jLJO*]yF2q;!|ngK)Ow{4_c4fg|z7-1c? %;v@ޢ <^ONNK'Lȡ'OV!Z]|Szzˏ5\|YYً/8i2Z|DyKK3N1Bt9\`2Tpܸq -q8*rS'gΜ5o(O d2bp;=qLFh]~%hCS}}=FUwʪ y^yt}'N:y];?ɏxN8o=wluՅ}~ ;VMuɓ'^z'#o/ΝOEښGE_^yKR(yb'4[&U>B``uu|^CH@v lVܹ~O~+W_oߞnGZoy䱯aCv)WKKKc$.׉/YZPPaVVV 8sbkK3Lq9{zW>$À5UMMMԣ.>Zs)SΚ= B 8i }v t5U'N8u3W]ui6fNWbfnk ЪopMQ2SCj;F[&J=P,TH&)_Xfr UW|޾Umt`cyWwǝsss1e\r55l-Zq]y˭[,+;ю IwWC|Μ8^q!Ň(\ ~bQ#F,Zdpő($BEEL;;;Ϙ~:t ++gΜJ5s`ԩǍ+*((\ښꖖ~e q֬y455.\N,!DH6mQʳg 1< J1dk0[%F#42PĦ6V1ֆE]{=zNՔ)u֡Dbݻ>ܿo7z`<l{w4޲62CJ.ݳL-X`k_/>v+VmظiX1" J1 Y4(%gLrb]!7Xu0!s;g.F%K+qOXv cnܶ΢}5j.k˖Q880[ܶxR#Õ\yy%%_"O%O !`MFEôIx-'qT:;L t1x^7t[vƥ3&և<~S+ZHnn^vv8*4v;]N-+:;:)sr{}v]tBjzAEPJy ?^fLȈ͈QVGXxOe`[|#@o,d^U!6 cQ-0sB"jgC^~3Ϙ"2ɔ7c,nQe.Θr!cedf&c1ZnF50\(Cf#F%/T >IFAxr3X2#@l O1|$CVК̴ضKOG;Q2s x~J@kU" IxdY U1]CjlP%.aUDž@tdUUUs~@:x≰m۶(++c|nĥ¼VX=]R-&6s1#!0~ JB-LJA@7+/xꩧXxٳgڵ$WU܄- ;wygʕ,4Q_|1ހ2,9.m3B@ojm{zZmBm7-9)>u[W[R>h]*YFԷ|;1(Yiu*h@Qxf3BGBwT2h_}i뼙b(Y4|\Ws%%%W\H\tWvqNnMn9A! x+‚b/3oIv9 d1AQ2 aѫ#[o=pGþc/pGlq)q( C{3FlK+G7^uߍF(Hi(V$?πJFGJ+PɘoÇ5khdx qa! drREf}̚\8VϊiE J"Fj<z(>6pd<Vu9B<I'`2l"dϿ5[6,[?p#+J6\bp/JF^ #wGK/x\l#v_=_"o1%!@M%c'G#d zW Ooٲe* oڴif+%c?^}9piM\B If[=l~>gƤ7^`Zy+1DO,h?"J9Ґ:((%#Ĭw"s6kTSQ ]6-=33bU| Hk2z$q8p2[fqdZly?(w|F8",J׌sQ(A ϙÔ=@3:C&ї.[ـCG{[ũE'ΘwP.Zz{zNW9s-z/TA*I 3LEY֑Mc+JbdWD)p7o/p='7ؿxim"Aɺ:;,+Xle"0,V-kmm|mzHDI{dw1Y )B@,E2B!1Ѝ1+FB@$n,Q@$! Q2eDW! "IB@}%wI셀B@LʀB@蛀(Ob/ƈ}H~׮]ӭ.t߾Ҵ,fnOH"4.)?dAq.z(#7~w֘{{{;}u7i}"| MS'2naDu~#^szz'?G١ҍ֗$"+Aؿyy#܊] @kdwy 9bSR neYX' l8n'KR! >ޑ>kVJ>BJPwu45sɼ8,$sWoOKKsggS;VHQ;ZV2eʰ|cQ2jd" Ñ7drR33IfL\ zs3t:(qWW"#-pd|%8яȲAḋNݞi;tWNp;{ ,?ydnnJxIo&8 iCxun6[ (cl7LQhzzQvƨs'cL8%8++';'Ow2zr 5#M_2ꊹݽݝƠI+V,5kV (Y#H:BfYs ss l6 }ooOggJͷJa4ݝ4:EP|>4d/C9P>=v(IBoOWGGّ>1/=MFC`…W_}5zI(Y,4r$(L)ettcJsizt8ńPcDŽ^&4x˄E.Px/`dBwCL2Djs^ Q '/7{EωIڶ:k@M|R|y&1XAc*Ȱ@hDQQ8zct_ 1\/>'choa8sƩQ'Vh_>drЭOAQ ]3gL_f 2fzQӀ2#p881z(N@n; mҪAQ1==]V=/0ԏY>H?!^'yn~!scT{G?]uLOvwuX-%s/_>i$ݽ [b{ %l/o|3>#}qFlQOWߪg,;(q^><\Z)uŐVowOW{fc+W,**S1(dqAF銙Mlt:@_RMf0pPBkHCGyB+q]}XwQ MOZE%!BdoOe$FOdaxEwIN,ege._lŊ*K6٢dqR2ZNlc"N![dX(2a;XUϡN@wv&#QUρ`+! nB^ |]`XAяlS)&*K} !6^rŴitWkD F1p8Bt0+WgPw>ZVa$ho7CW UYlo`nOwM@?P(O\`8@v:4!Eݮhmibŋ[VGiuVIRr݄W=gee 0ݼA#]ṭhFC[6\ЙhߪgvojxѡZ ttgѷzMؿj9}҅ln{I/_6g]wb5N(Zf"lz{.twy:4uQV' YMՈbh `\+;%ԭocճ+;;GtgAXzBFwUnkmvzf͜aÆ .4'ҕ(ŀߛ`Z}.2ss>E mUa9]s›]`z,V^& h(ڕ?dWNy[ϰhvf.]{L.D47芙A !P?n*[84(Nn`edV=IqRh,oshvZ#,=Ԡ% @A[l56r͆I‚kbUd(Y4r, Y5=:UFej KBh&=ECs9Jo7z{`DZ.i*:'=ӓ}Jfl{IbiU>N-6u ;wpޭ. Sb1>6 t?4_G[Plr؉$IuHfaڌ ;=ǬL2X(L -6Q㚍KJΡɼtF谽̌4N[z(XM4wWVVk׮m۶h4h"跶yO>}HHgr `3"ʊ7ζ` |O1KC+b73Gpjr F Aݥ>i\,jg zcv'רTUTThѢѴ\L!Ό%bw3gN g 6z7ȀpIh W#-͌5 z[.WV=݈jݠJ'}7l>b* ^S]v-;{=&W"~b7(J\ >YCCCKK n^__IƠ9EbWTTPY57Ўr 41^P.^X]]j*ݙ)*`$ܹs˖-KK߆ݔSN:zMg̘0E4FLo{l}Ow>ϟ./-[HI6a1>p>)Ձ?{A:TUUwyHu J-d9d|~nee믿~=ս [n>}z4n>z}|A*];v<:]]pW_'LQR/v?T2]b c삡/ ㈔$`T./OHYj((K 1(Y,(1L| <L22gfX^ '3äGc9$AՁ$Q6b8BB@$'KDHB@!?dc+> ! @"%!# J?B@$(Y"(KB@!?dc+> ! @"%!# J?B@$(Y"(KB@!?dc+> ! @"B9 +X3l~; ]===N'}v%9a}II)A3www8Sn GC$PprOB"Ĝx^ms@ ("  #ra$DIPC#rGBo| 5t I-9DpE*yClUYwu R笶a Zl/.:csϞ=4::sL6NM1ZΗ!&]wf#1T?۵kr 92==}رCQXct…seZ*gii)'pʖ.]1}T{666Q)S8]bI>gB޽jƱ%%%T' !i7yUW%sXРy[&EHl{㞟p3NE,IK3gXT@~}ĉ$zIg92g&1oJTkjj (r6mD!K҈sٝ;wUn&w&TFT)ND$6Ž:$@9цmGX zwA?DUJQ̚56$FTS ?x YQT*`ƍ67d:ÍdƮë\2@] JXAblUuPeS%ĐdɒplYc "r\֤:3 )'Ę+ @ҩa: cSIpTU+WRT.SPnUɠ=g}O>dC Q͢\(bDQN8A1SJ !T`dQ*ۯkJ'ő6"ӟ!X4Ĝr>/iUT`Q{]|?}4-21ŝxS82mTU$D4EDw |.nN4 mNElI]~?$&@-->Bk?A -֊hs! .*^|bAޠ>5[z5!B( S/կH!ӦLDʁ?d(MTo[nxqs☿A%A[|@ yoW^yLQEڔ.@FBHJ#~jēBBK FS{yW eDqϻElR2 )ЦV-WbKZxl/h[oElh Ee/@^"-Ѡps="bNCuW g?$3\(?IDu@uPՁ6$ܠ.=[Fz %dB Gj-iєR>֭[GGZ8%S), :jWnUZ Z'xbڵTHǝއGDTux(d؂rlI0EhؒĖL[bKNib\{Æ DvP)9=smFQA/lӢ>|Dup=-rEW1:A _PՁ|! 4o\WRDAVbkj%KtO"HK5$BSahVT5&'>%֤%IU*$gj8/Tj8uWTTk֓VC=W=0j MdILcGAJ.s&v-b*zxELh4oD;4b7DI_\D74믿„HIq8"\?<>:AI=q#bj6تr@ ChODh)"+!@I2I)5.¢#dǖ" :dEF𐈅:ePDF2I(`T.A QSUȝ(`j.K J .3 XPZURUuǩbK7UxqTS`2BScKCgd.II9JBNUUu ]D,\NꀷĊ$$*\.ʼn0u^ORDTZZg#-*P5{hU7 >ЎP'0ITTTpOGI2I@YxNW4v1+AF{BM$" ꩫ #uj膿$bK@܇EBAVTsO>"cE(pQ'>BPRp!7//`.XlI)J jƔ ZhuUV!X7WmV꾨3S-/UE|o @(諃 W68@: *IE8 ܌:DX] )5ic^ѹV1 GR 7/9VcռШ\z>!ueA,՚IPGqG%!"uyz&#I $VCM^ T %"%as?[!$>#sc] 5`U(p"\g c[kQ>zNtD3IZ.%(ӇD U(I $ ;@vsĒAW0KA2+IoC2ϘCA":D@%!h\etڿ8S{bŸ\$j%ӟ0CT%[+@S`c'hX_TeE(OJdd PotT*]mFP3:@j421WR#d I6hSE;j /4&b&XTf"K+m"1>䤅}^#u1 i. >Z' lpwj.P' $ W=USeޫb1dxHkjNk(`U-K̝DP 7%DSHU㕟f=&-pp撶O瀆ܧ.\M(@_`(Syh>'L8ICꞚl'2(1UxTfH q@MV뱨r4U$%RP cA+.eGؒ40*0HlZ&0Rh  " (I uD [#* eH$#$Ah996CA(U('iD+a'A)JZ$UUpH`ǎ'O{D2_rٲeܧ1+=zQAO_|555?+++y|كo~{oƍՑ#GO~_$.*Ca U"BaG! jB/|Hrw^ 5jiiSx-C>C쪫@ㄌ Io3Hz!=x *xܹ*^:QVTO~B$IDA@, HD|DA|3{oNNάY>O_wu2nG?zꩧ~wuu>Ѷ7xc_җz!z >#_׭[#BuW(263g ?ϝ;ŁdDfKc$@y/W̓#tΘ+//tT(}&4W䇙&D9 ykѢE-ۇW.**+0yƔԩSBCbL<&tN@L(O (cgR*^RtWccc[[zè 8e|A+F cb6mb!JBa| >}:jM\g{{;d`ަ$QxXfaUobjYMbT bl1h{Xϳwb/nj1H/6ܡ"|aV fRk_"3B/5 ǿWEgec 6OI$  LLcJF?GѺp?Έ%SX1/Q@`%Q`:aI6>wybs=X_>KDɴ(~Py4 3)??i0fd?aG-QQ0}@jh#`R_) %Kj H! B@,.XS! HQB .DU<B@%Kj H! B@,.XS! HQB .DU<B@%Kj H! B@,.XS! HQB .DU<B@%Kj H! B@,.XS! HQB .DU<B@%Kj H! B {\VVcǎ 68( ! >[YYظ}#ܹs> ! q!@r+dq _<B@!7ZX! B@,!%! /LIENDB`}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:Vlc)%655ytMT}$$If!vh55555#v#v:VlR)%655ytMT}$$If!vh55555#v#v:Vl)%655ytMT}$$If!vh55555#v#v:VlH)%655ytMTDyK yK Lhttp://grebennikon.ru/journal-24.htmlB@B M1KG=K9CJ_HaJmHsHtH\@\ M 03>;>2>: 1$<*$@&CJKH \^JaJ tHV@V M 03>;>2>: 2$<@&5CJ\]^JaJBA@B A=>2=>9 H@8DB 0170F0Xi@X 1KG=0O B01;8F04 l4a .k. 5B A?8A:0O M$ =0: =0: =0:1 =0: =0: =0: =0:$dhCJaJmH sH tH 4@4 M 3;02;5=85 1:U@: M 8?5@AAK;:0 >*B*ph<@< M 3;02;5=85 2 ^2&@12 M =0: A=>A:8H*@B M"5:AB A=>A:8,"5:AB A=>A:8 =0:1,"5:AB A=>A:8 =0: =0:,"5:AB A=>A:8 =0:1 =0:1 =0:,"5:AB A=>A:8 =0: =0: =0:1 =0:,"5:AB A=>A:8 =0:1 =0: =0: =0:,"5:AB A=>A:8 =0: =0: =0: =0: =0:,"5:AB A=>A:8 =0: =0:1 =0:CJaJrORr M!B8;L 1 =5 @07@O65==K9$$$$ p#dh`a$CJaJfOaf M!B8;L 1 =5 @07@O65==K9 =0:CJ_HaJmHsHtH"Oq" Mfont4HOH M:C@A>20O$dh`a$CJaJ~@ M!5B:0 B01;8FK 1z:V0jj 6]6]""%%%+,G4=:g=d@sEHI"X; 8i $%&$%I)v3=$'$ qx??OU ' & x!3H xO>+,? "$$%%%%&&&$((+,. /&///12I4}5]8?::i==?D?f@BBCCCCuEFFYGHIJLL)N5OUQ,TNU$X)X:X;XXY6Z[\][^___)`R`S`caa.bbbbccDccd_dddKeee)ffff:gFgogpgqgggggggggggggggggggggghhhhhhhGhHhIhJhKhLhMhghhhihjhkhlhmhnhhhicj&l,lYlZlmnnn5o:ooopPsst*t.t?t@tvwxxdyy{r|}}~l~m~.ށM=CDY 5NXeĈʈЈֈ܈݈ +17=CDntz݉"(.4:;gmsz:vk;ۏݐސg}~|͕>b̝fnT:ʥ 012hU0?ũP%[zѭ/&ULܱzmԴ*ȵG wٸFݹGAȻ_}:Q[Xi4pLj00000000000000000000000000000000000 0 0 0 0 0 0 0 00000000000000000000000000000000&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/0&/00C0C0C0C0C0C0C0C0C0C0C0C0C0C0C0C0C00)X0)X0)X0)X0)X0)X0)X0)X0)X0)X0)X00_0)`0)`0)`0)`0)`0)`0)` 0)` 0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)`0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)` 0)`0)`0)`0)`0)`0)`0)`0_0,l0,l0,l0,l0,l0,l0,l0_0:o0:o0:o0:o0:o0:o0:o0_0.t0.t0.t0.t0.t 0.t 0.t0.t 0.t 0.t0.t00}0~0~0~0~0~0~0~0~0~0}0000000 0 00t0t00t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t 0t0t0t0t0t0t0t0t0t00t0t0t0t00u00000u00Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y00O0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0 O 0 O 0 O 0 O 0 O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0O 0 O 0!O 0"O 0#O 0$O 0%O 0&O 0'O 0(O 0)O 0*O 0+O 0,O 0-O 0.O 0/O 00O 01O 02O 03O 04O 05O 06O 07O 08O 09r 0:r 0;r 0<r 0=r0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@0@000$@000@000@000@00000|  qx??OU ' & x!3H xO>+,? "$$%%%%&&&$((+,. /&///12I4}5]8?::i==?D?f@BBCCCCuEFFYGHIJLL)N5OUQ,TNU$X)X:X;XXY6Z[\][^___)`R`S`caa.bbbbccDccd_dddKeee)ffff:gFgogpgqgggggggggggggggggggggghhhhhhhGhHhIhJhKhLhMhghhhihjhkhlhmhnhhhicj&l,lYlZlmnnn5o:ooopPsst*t.t?t@tvwxxdyy{r|}}~l~m~.ށM=CDY 5NXeĈʈЈֈ܈݈ +17=CDntz݉"(.4:;gmsz:vk;ۏݐސg}~|͕>b̝fnT:ʥ 012hU0?ũP%[zѭ/&ULܱzmԴ*ȵG wٸFݹGAȻ_}:Q00000000000000000000000000000000000 0 0 0 0 0 0 0 000000000Q0000000000000000000000Q0/0/0/0/0/0/0/0/0/0/0/0/0/0/0/0/0Q0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0BD0Q0X0X0X0X0X0X0X0X0X0X0X 00`0`0`0`0`0`0`0` 0` 0`0`0`0`0`0`0`0`0`0`0`0`0`0`0`0`0`0`0`0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0` 0`0`0`0`0`0`0`0`0m0m0m0m0m0m0m0`0p0p0p0p0p0p0p0`0u0u0u0u0u 0u 0u0u 0u 0u0u 000W0W0W0W0W0W0W0W0W00t0t0t0t0t0t0t 0t 0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t0t00u0u0u0u0u0u00Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y0Y00O0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0 r 0 r 0 r 0 r 0 r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0r 0 r 0!r 0"r 0#r 0$r 0%r 0&r 0'r 0(r 0)r 0*r 0+r 0,r 0-r 0.r 0/r 00r 01r 02r 03r 04r 05r 06r 07r 08r 09r 0:r 0;r 0<r 0=r00  | * p8 8D-liyXtMxbzνzhklmnopqrstuvx|}  J.4Mgl6>     R    F5LGtMMMNDNvNNN,OpOOOPdPPP"Q&Qe.Ziwyz{~   j %&FPlnoqWsuvx?<=j9<=?_q9<=?_-ILMOo3ORSUuN X%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕX%ĕ̕XX > _Toc262017587 _Toc262017588 _Toc262017589 _Toc262017590 _Toc262017591 _Toc262017592 _Toc262017593 _Toc262017594 _Toc262017595 _Toc262017596 _Toc262017597 _Toc262017598 _Toc262017599 _Toc262017600 _Toc158796530 _Toc158796605 _Toc158800875 _Toc158801083 _Toc166140992 _Toc70139715 _Toc70139772 _Toc70147216 _Toc72405037 _Toc72410536 _Toc158796531 _Toc158796606 _Toc158800876 _Toc158801084 _Toc166140993 _Toc70139716 _Toc70139773 _Toc70147217 _Toc72405038 _Toc72410537 _Toc158796532 _Toc158796607 _Toc158800877 _Toc158801085 _Toc166140994 _Toc70139717 _Toc70139774 _Toc70147218 _Toc72405039 _Toc72410538 _Toc158796533 _Toc158796608 _Toc158800878 _Toc158801086 _Toc166140995 _Toc70139718 _Toc70139775 _Toc70147219 _Toc72405040 _Toc72410539 _Toc158796534 _Toc158796609 _Toc158800879 _Toc158801087 _Toc166140996 _Toc262017601 _Toc262017602 _Toc262017603&/C)X_)`,l:o.t}~kkkkkkkkkkސ  !"#$%&'()*+,-./0123456789:;<=*/C9X'`P`Wlo>t~k~Beeeee ::::::::::/%&&'.(4( ,,0,6,,,8->---..//;6H666mBxBD$D OOUU)V4Vbbbccc ccpy%+?HBH'5<29clͱԱ8Cƴ̴"6<ȵε &5<w~ٸ8>ݹ$+:?GQ_g}ѽؽ?IQY]f,3BG #6<=C#\ePW>ch"$2]3AADDDtDIIccggcghghh$i+ijjppyzf|p|0sxǏʏwxyz#$%& {}ۨި<=©é;ECDPRڹ۹NQz{<?jm3 3Hx++` abcqggggghMhghhi\{{5NeDn";g 0ũPƪ%vzFCs[Iz&YX~(`:d0V yvzZ ^`hH. ^`hH. pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.-ZZ^Z`OJQJo(hH--ee^e`OJQJ^Jo(hHo-5 5 ^5 `OJQJo(hH-^`OJQJo(hH-^`OJQJ^Jo(hHo-^`OJQJo(hH-uu^u`OJQJo(hH-EE^E`OJQJ^Jo(hHo-^`OJQJo(hHh^`OJQJo(hHh^`OJQJo(hH-hpp^p`OJQJo(hHh@ @ ^@ `OJQJo(hHh^`OJQJ^Jo(hHoh^`OJQJo(hHh^`OJQJo(hHh^`OJQJ^Jo(hHohPP^P`OJQJo(hH ^`hH. ^`hH. pLp^p`LhH. @ @ ^@ `hH. ^`hH. L^`LhH. ^`hH. ^`hH. PLP^P`LhH.-ZZ^Z`OJQJo(hH--ee^e`OJQJ^Jo(hHo-5 5 ^5 `OJQJo(hH-^`OJQJo(hH-^`OJQJ^Jo(hHo-^`OJQJo(hH-uu^u`OJQJo(hH-EE^E`OJQJ^Jo(hHo-^`OJQJo(hHvz[I&YXzFC(`:d(I(I(I`_Z8aR V  Iu \ 2>yi%E  $8$FU()*+`/A1 517QE0HpMQ]%R_UUX\%p]kt^%o9o@o-uQww$zY~:N4 htWm,g =zbNMw7?[W[A#gv{X_}f.f"8bRT*2u8{+*:4 o.v`eE%% /&/]8i=Cf:gqgggggggggggggggggggggghhhhhhhGhHhIhJhKhLhMhghhhihjhkhlhmhin5oPs*t=NĈʈЈֈ܈݈ +17=CDntz݉"(.4:;gmszސ@hdccPP P PPPPPUnknownG:Ax Times New Roman5Symbol3& :Cx Arial?5 :Cx Courier New;Wingdings"1hwf# a\ a\Yn4]]2qHX ?[2 3;02;5=85DenisDenis      Oh+'0t  0 < HT\dl Denis Normal.dotDenis3Microsoft Office Word@@9@~־ ՜.+,D՜.+,8 hp|  \a]'    8@ _PID_HLINKSAx_r&http://grebennikon.ru/journal-24.html IIo-http://www.ozon.ru/context/detail/id/857671/ 7h _Toc2620176047b _Toc2620176037\ _Toc2620176027V _Toc2620176017P _Toc2620176004J _Toc2620175994D _Toc2620175984> _Toc26201759748 _Toc26201759642 _Toc2620175954, _Toc2620175944& _Toc2620175934  _Toc2620175924 _Toc2620175914 _Toc2620175904 _Toc2620175894 _Toc2620175884 _Toc262017587  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXY[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entry F Data 1TableZPWordDocument.$SummaryInformation(DocumentSummaryInformation8CompObjq  F Microsoft Office Word MSWordDocWord.Document.89q