CdkZbWZg'%%+KdajbZ(>hhjZ&'Gh&%%
(FUUIFCFTUPGCPUISVO8JOEPXTBOE-JOVYBUUIFTBNFUJNF('
<;7JKH;
:kWb8dbeVg^hdc
.%M[Xm_pWhZi 7\\ehZWXb[9HJced_jehiM_#<_hekj[hi =dcZndjglZWYZh^\c^c\ h`^aahl^i]i]ZhZVeeh <;7JKH;
*%
Ikf[h#iW\[E8
-+ *.jeebije_dj[hY[fjWdZXbeYa_djhkZ[hi
++9FK#=FK]k_Z[ 6c^c"YZei]VcVanh^hd[ 8EJh\gVe]^XhXVgYh D[nj#][dfem[hiekhY[i\ehfehjWXb[]WZ][ji
C_d_fem[hhjeea^Zh
"MTPBWBJMBCMFJO#BOHMBEFTI /FQBM #IVUBO 4SJ-BOLB 6"&
J^[d[m_FeZi0Demib_cc[hi[n_[h
,)
åå%$)4/2)!,
>i_jhi°ldg`h
*
5FDIOPMPHZCFDPNFT USVMZFGGFDUJWFPOMZ XIFOJUGBEFTJOUPUIF CBDLHSPVOEPGEBJMZMJGF
SFDBMMDPNJOHBDSPTTBWFSZGBNPVTBEWFSUJTFNFOUTPNFUJNFMBTUZFBS5IJTXBTGPS B)POEBDBS JOXIJDIUIFWJEFPQPSUSBZFEBNVMUJUVEFPGBVUPDPNQPOFOUTXPSLJOH JODPOKVODUJPOXJUIPOFBOPUIFSJOTFFNJOHMZJNQPTTJCMFTJUVBUJPOT CVUXPSLJOH nBXMFTTMZOPOFUIFMFTT5IFWJEFPFOETXJUIUIFOBSSBUPSTBZJOHi*UKVTUyXPSLTw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mCFSPQUJDMJOF 5IFTFPDDVSSFODFTBSFDPNNPOQMBDF*NUBMLJOHBCPVUBNPSFEFFQSPPUFEMFWFMPOXIJDI UFDIOPMPHZJOnVFODFTQFPQMFTMJWFTFWFSZUIJOHIFSFKVTUyXPSLT -JLFBOZPUIFSUPVSJTUJOBOFXQMBDF XFBJNFEUPTPBLJOUIFNPTUPGUIFDJUJFTXF WJTJUFEJOUIFMJNJUFEUJNFXFIBE'SPNTNBMMUPXO%BWJETPO BMMXFOFFEFEUPEPUPHFU CFUXFFODPVOUJFTXBTUPm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
FWFOBTIPSUUSJQCFUXFFOTVCVSCTXPVMESVOJOUPQBHFT XPSUIPGOBWJHBUJPOJOTUSVDUJPOT *OBDJUZMJLF/FX:PSL XIJDIJTDPNQBSBCMFUP.VNCBJJOQPQVMBUJPOBOEQBDF * NBSWFMFEBUUIFFBTFXJUIXIJDIUIJOHTIBQQFO$POTJEFSTPNFUIJOHBTNVOEBOFBT QVCMJDUSBOTQPSU"MMTVCXBZBOECVTUJDLFUTDBOCFCPVHIUBUBVUPNBUFEUPVDITDSFFO CBTFEWFOEJOHNBDIJOFT:PVQBZFJUIFSCZDBTIPSDSFEJUDBSEBOEPVUQPQTB.FUSPDBSE UIBUTXJQFTZPVJOUPUIFTUBUJPOUISPVHIBVUPNBUFEUVSOTUJMFTOPRVFVFT OPIBTTMFT &WFOMPOHEJTUBODFUJDLFUTDBOCFQSPDVSFEUISPVHITJNJMBSNBDIJOFT8JUIDMFBSPOTDSFFO JOTUSVDUJPOTJOBOJOUVJUJWFTUFQCZTUFQJOUFSGBDF JUJTTPJODSFEJCMZFBTZUPHFUBSPVOE 5IFTFBSFDMBTTJDFYBNQMFTPGUFDIOPMPHZCFJOHJNQMFNFOUFETPFGGFDUJWFMZUIBUUIFZ GBEFJOUPUIFCBDLHSPVOEPGEBJMZMJGF1FPQMFIFSFFYQFDUUFDIOPMPHZTZTUFNTBOETFSWJDFT UPXPSL/PCPEZJTTVSQSJTFEXIFOUIJOHTPQFSBUFMJLFDMPDLXPSLUIBUTCFDBVTFUIFZBSF FYQFDUFEUP 'PSUIJTMFWFMPGFGmDJFODZUPCFBDIJFWFECBDLIPNF *CFMJFWFUIFmSTUTUFQGPSVTXPVME CFUPFYQFDUOPUIJOHMFTTUIBOUIFCFTUJOTFSWJDFTMJLFQVCMJDUSBOTQPSU POMJOFCBOLJOH *OUFSOFUBDDFTTBOEXJSFMFTTDPOOFDUJWJUZ0OMZUIFOXJMMUFDIOPMPHZUSVMZBJEIVNBOMJGF XJUIPVUCFJOHVOOFDFTTBSJMZJOUSVTJWF"GUFSBMM UIJOHTTIPVMEKVTUyXPSL
].BSDP"OHFMP%4PV[B NBSDPETPV[B!DIJQJOEJBDPN ./6%-"%2æææææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
8dciZcih CDK:B7:G'%%+ L^gZ"[gZZ6XXZhh*+ I]g^aahd[(9(%
I]Z
C:LHL>G:
'% >ciZa9ZkZadebZci;dgjb
5IJTZFBSBU*%' *OUFMTIPXDBTFE
Hi^aa
*% Hi^aaHiVcY^c\
8JUIJUTBSSBZPG%NPEFMMJOH BOEBOJNBUJPOQSPEVDUT "VUPEFTL HJWFTBOJOTJHIUJOUPXIBUSPMFUIFZ QMBZJOUIFCVTJOFTTPGDSFBUJOH WJTVBMMZBQQFBMJOHHBNFTBOE NPWJFTBOEUBLJOHFOUFSUBJONFOUUP BOFXMFWFM
GSPNTIFMWFT*OGBDU PVSNJOJ DPNQBSJTPODPNQSJTJOHTFWFO$35 NPOJUPSTNJHIUJOEVDFZPVUP SFQMBDFUIFEFDSFQJUPOFPOZPVS EFTL
8BOUUPDIFDLPVU-JOVYXIJMF
.PCJMJUZJTWJUBMGPSCPUI40)0BOE IPNFVTFSTUIJTXJSFMFTTSPVOEVQ XJMMIFMQZPVDIPPTFGSPNBSBOHF PGXJSFMFTTSPVUFST PGGFSJOHHPPE GFBUVSFTBOEQFSGPSNBODF
+' EaZVhjgZEdYh 1SPEVDUPGUIFNPOUI5IFOFXJ1PET DPNFJOBOFXHBSCBOEXJMMSFEFmOF ZPVSMJTUFOJOHFYQFSJFODF
/FXHFOFSBUJPOQPXFSTVQQMZVOJUT CVJMUXJUIDPNQPOFOUTUIBUDVU EPXOPOUIFJSTJ[FBOEXFJHIUBSF QPJTFEUPQPXFSNPCJMFEFWJDFT
,+ IZX]cdad\nAVcYhXVeZ #PSFEXJUIBTDSPMMNPVTF 'BODZ BXJSFMFTTLFZCPBSE 'MJQUPUIJT NPOUITCVZFSTHVJEFPONPVTF LFZCPBSEDPNCPT
,- >ch^YZV8dcigdaaZg )PXEPZPVUIJOLZPVSGBWPSJUF14 HBNFQBEXPSLT 'JOEPVUy
++ 68EJ"<EJ<j^YZ :PVSUIJSTUUPLOPXBCPVUBMM
SVOOJOH8JOEPXT 'JOEPVUIPX ZPVDBOSVOCPUIPQFSBUJOHTZTUFNT BUUIFTBNFUJNFBOEHFUUIFCFTUPG UIFUXP
,) HjeZgHbVaa!HjeZgA^\]i
*+ L^gZ"[gZZ6XXZhh
8DK:GHIDGN
(' 9djWaZ"7VggZaE8
QSPDFTTPSTBOEHSBQIJDTDBSETXJMM CFRVFODIFEJOPVSDPNQMFUF BOBMZUJDHVJEF
*UTOPUZFUUJNFGPS$35TUPWBOJTI
JUTMBUFTUJOOPWBUJPOTJOTJMJDPO BSDIJUFDUVSF QMBUGPSNTBOE TPGUXBSFTPMVUJPOTEFTJHOFEUP TIBQFDPNQVUJOHJOUIFGVUVSF
(% I]ZI]g^aahd[(9
HiVcY^c\*%
6EEA>86I>DCH
-% Hd[ilVgZ8ZciZg
=6G9L6G:
(- Ide
5IFCFWZPGDPPMBQQMJDBUJPOTUIBUXF IBWFSFWJFXFEUIJTNPOUIJODMVEF BOJNBHFFEJUPS BOBVEJPFEJUPS BO *OUFSOFUTFDVSJUZTVJUFBOENPSF
-+ HjeZgIddah[dgVHV[ZE8
('
4IJFMEZPVS1$GSPNJOWBTJPOTCZ QFSJMPVTWJTJUPSTXJUITPNFPGUIF TVQFSCUPPMTBWBJMBCMF
.% I]Z;VciVhi^X;djg
(FUUPLOPXBCPVUUIFGPVSTVQFSC ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
>ck^h^WaZdci]ZLZW.' EaZVhjgZ
EdYh+'
I]Z
XFCEFTJHOJOHUPPMTUIBUHJWF TIBQFUPBMNPTUBMMUIFXFCQBHFT PVUUIFSF
.' >ck^h^WaZdci]ZLZW
-FBWFOPGPPUNBSLTPOUIF*OUFSOFUy UIFSFBSFQFPQMFXBUDIJOHZPV(FU UIFTFUPPMTUPNBTLZPVSJEFOUJUZ
.- 9^\^iVaI]gZVih
=6C9HDC
HFOFSBUJPOPGDPOTPMFHBNJOH %JHJOy
&'( ?jhi8VjhZ 8IFUIFSJUJTCFDBVTFPGUIFSPMF
&') 8dbeVcnd[=ZgdZh :PVSTLJMMTBTBTPMEJFSBSFQVUUPUFTU
$IBOHFDPVSTFGSPNXBUDIJOH NPWJFTPOZPVS1$UPUIFMJWJOHSPPN 57CZDPOWFSUJOH%JW9NPWJFmMFT JOUP%7%T
&%. ;gZZ8Vaa^c\ -FBSOUPDPOOFDUUISPVHI4LZQF BOEPQUJNJ[FJUTGSFFWPJDF DPNNVOJDBUJPOGBDJMJUJFT
6XZg6A&,%+ °)' ./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
qEgdYjXihIZhiZY
PGB$*"BHFOUPSTJNQMZCFJOHPOB $BSJCCFBOJTMBOE ZPVFOEVQEPJOH DSB[ZUIJOHTJOUIJTUIJSEQFSTPO BDUJPOHBNF
&%+ ;gdb9^kMid9K9
JCL>C9
&'% 8dchdaZ8]gdcdad\n )PXEJEXFBSSJWFBUUIFTFWFOUI
6QHSBEFZPVSLOPXMFEHFPO NBMFWPMFOU1$JOUSVEFST
JOUIJT354ZPVSFTVSFUPHFUUIF PQQPSUVOJUZUPEJTQMBZZPVSXBSUJNF EFSSJOHEPXIFO+FSSZTUSZJOHUP DBUDIZPVSOFDL
&'* Bdid<E 7JSUVBMTQFFEUSJQBHBJOTUCJLFSTMJLF 3PTTJ (JCFSOBV $BQJSPTTJTMVHJU PVUJOUIJT14HBNF
GZ\jaVgh
5PXO4RVBSF
-FUUFST
5FDIOPMPHZ-BOETDBQF
%S$)*1
(ARDWAREå3TANDALONESåååå !SUSæ#OREæ$UO æ!SUSæ&& æ8&8æ'E&ORCEæ '8 æ!CERæ!, æ-3)æ+.æ.EO & æ 0HILIPSæ'O'EARæ3! æ"LUESæ-& æ ,EXMARKæ% æ0HILIPSæ$60æ+ æ #OOLERæ-ASTERæ3USURRO æ! $!4!æ3$æ$UO æ #OOLERæ-ASTERæI'REENæ7 æ,EVELæ/NEæ 7!0
#24å-ONITORSå
5JQTBOE5SJDLT
3AMSUNGæ3YNC-ASTERæ-' æ,'æ% æ ,'æ&LATRONæ%3( æ,'æ% æ3AMSUNGæ 3YNC-ASTERæ-"æ0LUS æ!/#æ03 æ !/#æ03
7IRELESSå2OUTERSå
"UFFALOæ7(2 (0 ' æ-ICRONETæ30'+ æ $ ,INKæ$3, '4 æ,EVELæONEæ7"2 æ ,INKSYSæ724' æ!SUSæ7, 'æ 0REMIUM æ!SUSæ7, ' æ!SUSæ7, ' æ #OMPEXæ.ET0ASSAGEæ' æ.ETGEARæ 70.
(BNF3FWJFXT -BTU8PSE
;VciVhi^X;djg.%
&%.
Gk_YaGkej[ CDK:B7:G'%%+qKDAJB:(q>HHJ:&' <:C:G6AB6C6<:G"EJ7A>H=>C<ææææææææææ
+RISHNAæ4EWARI :9>IDG
(YDERABAD 6ASUDEVANæ)YER VIYER INFOMEDIAINDIACOM 0HONEæ æææ&AXæ æ
-ARCOæ!NGELOæ$3OUZA
9>?F^[bfij^[ j[Y^#iWllo Yecckd_jo_d?dZ_W ijWoWXh[Wije\j^[ bWj[ijj[Y^debe]o jh[dZi$ @e^dCY9bkh[ 9^gZXidg BVg`Zi^c\VcYDeZgVi^dch! >ciZaHdji]6h^V
H:C>DG8DEN:9>IDG
3HARMISTHAæ$EY 8DEN:9>IDG
2OSANNEæ2ODRICKS LG>I:GH
!SHUTOSHæ$ESAI æ3HARONæ,OBO I:HI8:CI:G
!NANDæ4ULIANI æ+UNALæ2UPERA 9:H>
*AGDISHæ,IMBACHIYA æ0RAMODæ*ADHAV æ (EMALIæ'ANDHI æ-ANOJæ4ANDEL æ 5MESHæ$AHIWALKAR æ2AVIæ0ARMAR E=DID:9>IDG
3HIRESHæ2æ+ARRALE
+OLKATA !æ+æ2OY AKROY INFOMEDIAINDIACOM 0HONEæ æ æææ&AXæ æ .EWæ$ELHI #HHATRAæ#HHETRI CHHATRACHHETRI INFOMEDIAINDIACOM 0HONEæ æ ææ&AXæ æ *ITENDRAæ'UPTA JITENDRAGUPTA INFOMEDIAINDIACOM 8>G8JA6I>DC
.ATIONALæ#IRCULATIONæ-ANAGER +UMARæ-OHANANIæ KUMARMOHANANI INFOMEDIAINDIACOM HJ7H8G>EI>DCH
3UREKHAæ0ENDSE æ3ARITAæ1UADROS % MAILæCUSTOMERCARE INFOMEDIAINDIACOMæ 4ELææææææææ&AXæææææ
BJAI>B:9>6L:7
(EMANTæ#HARYAæ
35"3#2)"%æ/.,).%æATæESHOPINFOMEDIAINDIACOMææ
HE:8>6AEGD?:8IH :9>IDG"EGD?:8IH
8=>E>CI:GC6I>DC6A
"RIANæ0EREIRA HJ7":9>IDG
#HARMAINEæ&ERNANDES æ LG>I:GH
6IJAYæ'EORGE æ3ARONIæ2OY æ 7JH>C:HH=:69
'ANESHæ,AKSHMANAN =:69D;;>8:
)NTELLIGENTæ#OMPUTINGæ#HIP 4"7æ0UBLISHINGææ-EDIAæ0VTæ,TDæææ {!æ7ING æ2UBYæ(OUSE æNDæ&LOOR æ*+æ3AWANTæ-ARG æ $ADAR7 æ-UMBAIæ æææ).$)!æ 0HONEææ æ æ&AXææ æææ % MAILæCOMMENT CHIP INDIACOM 3AGARæ3ALUNKHE SAGARS INFOMEDIAINDIACOM -RUGESHæ0ATEL MRUGESHPATEL INFOMEDIAINDIACOM (AFEEZæ3HAIKH HAFEEZSHAIKH INFOMEDIAINDIACOM
%DITORIALæ#ONSULTANTæ)NTERNATIONAL 7OLFGANGæ3U æ0OCCISTRABEæ ææ-UNCHEN #()0æISæALSOæPUBLISHEDæINæTHEæFOLLOWINGæCOUNTRIES #HINA #ZECHæ2EPUBLIC 'ERMANY 'REECE (UNGARY )NDONESIA )TALY -ALAYSIA .ETHERLANDS 0OLAND 2OMANIA 2USSIA 3INGAPORE 4HAILAND 4URKEY 5KRAINE 4"7æ 0UBLISHINGæ æ -EDIAæ 0VTæ ,TDæ DOESæ NOTæ TAKEæ THEæ RESPONSIBILITYæ FORæ RETURNINGæ UNSOLICITEDæ MATERIALæ SENTæ WITHOUTæ DUEæPOSTALæSTAMPSæFORæRETURNæPOSTAGEæ.OæPARTæOFæTHISæMAGAZINEæ CANæ BEæ REPRODUCEDæ WITHOUTæ THEæ PRIORæ WRITTENæ PERMISSIONæ OFæ THEæ PUBLISHERæ 4"7æ 0UBLISHINGæ æ -EDIAæ 0VTæ ,TDæ RESERVESæ THEæ RIGHTæ TOæ USEæ THEæ INFORMATIONæ PUBLISHEDæ HEREINæ INæ ANYæ MANNERæ WHATSOEVERæ #OPYRIGHTææ).4%,,)'%.4æ#/-054).'æ#()0
7G6C8=D;;>8:H
"ANGALORE (ARISHæ+AMAT HARISHKAMAT INFOMEDIAINDIACOM 0HONEæ æ ææ&AXæ æ #HENNAI /æ+æ'URUMURTHYæ GURUMURTHY INFOMEDIAINDIACOMæ 0HONEæ æ ææ&AXæ æ #OCHIN 3AWMYAæ+UMAR SAWMYAKUMAR INFOMEDIAINDIACOM 0HONEæ
lll#X]^e"^cY^V#Xdb
&ORæ ALLæ INTERNATIONALæ SUBSCRIPTIONæ ENQUIRIES æ CONTACTæ THE SUBSCRIPTIONæDEPARTMENT æ)NTELLIGENTæ#OMPUTINGæ#()0 SUBSCRIPTION CHIP INDIACOM )NTELLIGENTæ #OMPUTINGæ #()0æ ISæ PRINTEDæ BYæ !æ 3æ 6ADIWALAæ ANDæ PUBLISHEDæ BYæ +æ 6æ 2AOæ ONæ BEHALFæ OFæ 4"7æ 0UBLISHINGæ ANDæ -EDIAæ 0VTæ ,TDæ ANDæ PRINTEDæ ATæ )NFOMEDIAæ )NDIAæ ,TD æ 0LOTæ.O æ3ECTORæ æ/FFæ3ION 0ANVELæ2OAD æ.ERUL æ.AVIæ-UMBAIæ næææANDæPUBLISHEDæATæ4"7æ0UBLISHINGæANDæ-EDIAæ0VTæ,TD æ {!æ7ING æ2UBYæ(OUSE æNDæ&LOOR æ*+æ3AWANTæ-ARG æ$ADAR7 æ -UMBAIæ æææ).$)! æ æ ISæ ANæ INTERNATIONALLYæ PROTECTEDæ TRADEMARKæ OWNEDæ BYæ 6OGELæ"URDAæ#OMMUNICATIONæ'MB( #OVERæ$ESIGNæ0RAMODæ*ADHAV 0HOTOGRAPHYæ3HIRESHæ2æ+ARRALE
).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
9^h`8dciZcih ./6%-"%2ææ\ææ6/,5-%ææ\æ)335%æ
<6B:9:BD
H:8JG>IN
&)&!ææ
<6B:IG6>A:GH 7)..).'æ%,%6%.æ æ3 0,).4%2æ#%,,ææ'!-%0,!9
BDK>:IG6>A:GH
")4$%&%.$%2æ)3æ
#!3)./æ2/9!,%æ 4(%æ'//$æ3(%0(%2$
350%2æ3%#52%æ80æ4//,3
9:K:ADE:G &%%$æ%$)4/2æ233æ#2%!4/2
HNHI:B 6-87):!2$
BJHI=6K:H !54/0!4#(%2æ80æ50$!4% + ,)4%æ-%'!æ#/$%#æ0!#+
6-7!2%æ0,!9%2 #-æ$)3+#,%!.%2 -)#2/3/&4æ6)245!,æ0# !#2/.)3æ$)3+æ$)2%#4/2
>CI:GC:I !#4)6%æ0/243 -!),"/9æ &2%3(æ$/7.,/!$
A>CJM 3)-0,9-%0)3æ
!../.9-):).'æ4//,3
BD7>A: ",5%)% 484æ-3'æ-!.!'%2
BJAI>B:9>6 )45.%3 !5$!#)49 ",!:%æ-%$)!æ02/ 345$)/,).%æ0(/4/æ"!3)#
A>CJM ./6%-"%2ææææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
,)6%3 æ#9#!3
4/7.å315!2%åå 4/7.å315!2%
I=>HBDCI=DCX]^e"^cY^V#Xdb
IdlcHfjVgZ (SFFUJOHT 8JUIUIF%JXBMJTFBTPOKVTUCFIJOEVT PVS XFCTJUFTGPSVNTIBWFCFFOFTQFDJBMMZMJUXJUI MJWFMZFYDIBOHFTPOBSBOHFPGQSPEVDUSFMBUFE EJTDVTTJPOT'SPNCVZJOHBEWJDFPOWBSJPVTQJFDFTPG IBSEXBSFBTXFMMBTHBEHFUTMJLFMBQUPQT PVSGPSVN NFNCFSTIBWFBDUJWFMZCFFOQSPWJEJOHHPPEBEWJDF CBTFEPOUIFJSPXOFYQFSJFODFT"OETPNFPGPVS GPSVNNFNCFST CFJOHUIFTVQFSOFXTIPVOETUIFZ BSF JOGBMMJCMZEJHVQTPNFPGUIFCFTUOFXTUJECJUT PVUUIFSF)FSFBSFTPNFPGUIFNPTUJOUFSFTUJOH OFXTCJUT 5IFmOBMSFMFBTFPGUIF'JSFGPYXFCCSPXTFS WFSTJPO IBTTQBSLFERVJUFBCJUPGEJTDVTTJPO POPVSGPSVNT5IFPWFSBMMGFFMJOHTFFNTUPCFUIBU JUJTTBGFSBOERVJDLFSUIBOJUTQSFEFDFTTPST-PPL PVUGPSBEFUBJMFESFWJFXPOUIJTOFXCSPXTFSJOPVS GPSUIDPNJOHJTTVF:PVDBOEPXOMPBEJUGSPNXXX HFUmSFGPYDPN/PUUPPGBSCFIJOE UIFm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
UPDPNFVQXJUIBMJDFOTJOHTDIFNFUIBUJTCPUI FGGFDUJWFZFUVOPCUSVTJWFBOEVOSFTUSJDUJWFUPUIF FOEVTFS*UJTMFGUUPTFFXIBUIBQQFOTXIFOUIF m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
UIBUXJMMBMMPX%9HBNFTUPCFSVOPO8JOEPXT 91 ZPVXPVMEPUIFSXJTFOFFE7JTUBUPSVOUIFN ,VEPTUPZPVGPSCFJOHBCMFUPTOJGGPVUUIFTFHSFBU CJUTPGOFXT +VOZLFFQUIFQPTUTDPNJOH 0VS8FCBSPPPGGFSJOHGPSNUIFMBTUNPOUI IBTBMTPTQBSLFEBHPPEBNPVOUPGJOUFSFTUGSPN PVSWJTJUPSTEPMFUVTLOPXXIBUZPVUIJOLPG UIFXFCQBDLTBOELFFQUIFGFFECBDLDPNJOHGPS JNQSPWFNFOUTPOTVDIPGGFSJOHT8FIBWFQMFOUZJO TUPSFPOPVSXFCTJUFBOEUIFNBHB[JOFMPPLPVU GPSBMMPGJUJOPVSGPSUIDPNJOHBOOJWFSTBSZJTTVF 6OUJMUIFO DIFFST ].BSDP%4PV[B ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æææ
å,%44%23
./6%-"%2ææææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
,%44%23å
AZiiZgh
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mSTUDPQZ JO"QSJM6OGPSUVOBUFMZ BT*IBEDPOWFZFEUPZPVFBSMJFS XFEJEOPU SFDFJWFUIF.BZJTTVFBOEEFMJWFSZPGUIF+VOF JTTVFXBTEFMBZFEBTXFMM#VUOPXUIBUUIF QSPCMFNPGEFMBZIBTCFFOTPMWFE MFUNFUBLF UIFPQQPSUVOJUZUPTQFDJBMMZUIBOLZPVGPSUIF FGGPSUZPVUPPLJOUIJTNBUUFS*UIBOL ZPVPOCFIBMGPGBMMNZDMBTTNBUFT GPSQFSTPOBMMZTPMWJOHNZQSPCMFN TPRVJDLMZ-POHMJWF$)*1 5IBSJEV'FSOBOEP )J5IBSJEV (MBEUPLOPXUIBUZPVS QSPCMFNXBTTPMWFE8FMM USZPVSCFTUUPNBLFTVSF ZPVSFDFJWFZPVS$)*1JTTVFT POUJNFJOUIFGVUVSF $IFFST 5FBN$)*1
)J.BSDP *XBTESBXOUPUIFXPSMEPGPQFOTPVSDFBGUFS SFBEJOH$)*1%VSJOHPOFPGNZWJTJUTUP-BNJOHUPO 3PBE XIFO*IBEUPCVZB-JOVYEJTUSJCVUJPOUIBU XPVMECFTJNQMFZFUQPXFSGVM *NFUBDPMMFHF TFOJPSXIPFOMJHIUFOFENFBCPVU6CVOUV)F UPMENFUIBUUIJTEJTUSJCVUJPOJTGSFF XIJDINFBOU OPUIJOHUPNF UIFZBSFBMMGSFF BOEBMTPUIBU $BOPOJDBM$PSQ UIFDPNQBOZCFIJOE6CVOUV FWFO TFOETZPVGSFF$%TJGZPVSFRVFTUBUUIFJSXFCTJUF *XBTTLFQUJDBMUIFO*OUIFNPOUIPG.BZ * mOBMMZHPULCQTVOMJNJUFEEPXOMPBECSPBECBOE BDDFTTBUIPNFGPSKVTU3T5IJTHBWFNFUIF PQQPSUVOJUZUPEPXOMPBEXIBUFWFS*XBOUFE BOEBMTPUIFGSFFUJNFUPFYQFSJNFOUXJUIXIBU* XBOUFEUPEP *TFBSDIFEGPS6CVOUVPO(PPHMFBOEMBOEFEVQ BUUIF6CVOUVXFCQBHF*mMMFEVQBMMNZEFUBJMT XJUIMJUUMFIPQFUIBUUIF$%TXPVMEFWFSNBLFJU UPNZGSPOUEPPS#VUUPNZTVSQSJTF *XBTTFOUB DPQZPG6CVOUV-54$%T OPT XIJDI*IBE BTLFEGPS"MMUIF$%TXFSFQBDLBHFEQFSGFDUMZ BOEQSPGFTTJPOBMMZ*USJFEUIFNBOE*NVTUTBZ 6CVOUVJTPOFPGUIFCFTU BMTPUIFFBTJFTU -JOVY EJTUSJCVUJPOTBSPVOE*TUBSUFEDJSDVMBUJOHUIFOJOF FYUSBDPQJFT*IBEBOENZGSJFOETUPPGFMMJOMPWF XJUIJU*ORVJTJUJWFUPLOPXNPSFBCPVU6CVOUV *NBEFNZXBZUPUIFJSPGmDJBMXFCTJUFXIFSF *SFBEUIBUUIJTXBTBOPQSPmUQSPKFDUCZ.BSL 4IVUUMFXPSUI UIFm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æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
å,%44%23
./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
,%44%23åå
AZiiZgh CdlndjXVc HBHjh 4JODFXFMJLFLOPXJOHXIBUT POZPVSNJOEBOEXIBUZPV UIJOLBCPVUPVSNBHB[JOF XF OPXCSJOHZPVBOPUIFSXBZ UPHFUJOUPVDIXJUIVT)BWF TPNFUIJOHUPTBZBCPVUBUFTU SFWJFX -JLFEBGFBUVSFTUPSZ 8BTUIFXPSLTIPQVTFGVM 4.4VTZPVSGFFECBDL )FSFTIPX 'PSDPNNFOUTPOBTUPSZ DSFBUFUIFGPMMPXJOHNFTTBHF *$$0:PVSDPNNFOUTIFSF &YBNQMF*$$05IFDPWFS TUPSZXBTWFSZVTFGVM :PVDBOXSJUFBTNVDIBTZPV XBOUJOZPVSDPNNFOU 5PSBUFBTUPSZ QSPEVDU SFWJFX FUDMPPLPVUGPSUIF TUPSZUBHBUUIFCBTFPGFBDI BSUJDMFBOEVTFJUBTGPMMPXT *$$14UPSZUBH3BUJOH &YBNQMF*$$1184 5IFi4UPSZUBHwJTNFOUJPOFE BUUIFCBTFPGFWFSZTUPSZ JOUIFNBHB[JOFBOEUIF i3BUJOHwJTPOBTDBMFPG UP 'JOBMMZ TFOEZPVSNFTTBHFT UP $IFFST
Çä äÇ
> ÌÊÜ
"Ê/
>ÃÊ>Êv
ÕÊV
ÛiÀÊÃ Ì
ÀÞ
5IJTJTBMPOHMFUUFSCVUNZTPMFQVSQPTFJOXSJUJOHJU XBTUPTIBSFXJUIZPVXIBU*GFFMBCPVU-JOVY"GUFS BMM $)*1JTXIFSF*m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mMFIJQQPDPNPSIUUQTPGUQFEJBDPNPSBUUIFJS SFTQFDUJWFIPNFTJUFT .PTUHBNFSTXPVMEBQQSFDJBUFUIF MBUFTU%JSFDU9DSFEJTUSJCVUBCMFWFSTJPO"VHVTU "OBMUFSOBUJWFBOETBGFCSPXTFSJOMJFVPG *OUFSOFU&YQMPSFS OBNFMZ.P[JMMB'JSFGPY BOE0QFSB "OBMUFSOBUJWFFNBJMDMJFOUJOMJFVPG0VUMPPL &YQSFTTPSTJNJMBS.JDSPTPGUQSPEVDUT OBNFMZ .P[JMMB5IVOEFSCJSEPS&VEPSB-JUF .PTUPGVTBSFVTJOHUIF*OUFM.PUIFSCPBSE %("7PSJUTFRVJWBMFOU UIFNPUIFSCPBSE
CJPT JOGmMF TPVOEDBSE EJTQMBZDBSEBOE &UIFSOFUDBSEESJWFSTBWBJMBCMFBU XXXJOUFMDPN "OBMUFSOBUJWFGSFFBOUJWJSVTUP/PSUPO .D"GFF PSPUIFSTMJLF"WBTU)PNF&EJUJPOBSF BWBJMBCMFBUXXXBWBTUDPN "OBMUFSOBUJWFUP4ZTUFN.FDIBOJDVPSPUIFS FYQFOTJWFBECMPDLFSTMJLF"EXBSF4&S XIJDIJTBWBJMBCMFGSFFGPSBIPNFVTFS 8JOEPXT-JWF.FTTFOHFSBOE:BIPP BWBJMBCMFBUXXXXBDLZCDPO[ "[JQQJOHGBDJMJUZPGTNBMMTJ[FMJLF8JO3BS PS[JQPS8JO;JQ 6QEBUFTBTBWBJMBCMFGPSUIFBCPWFNBZCFJODMVEFE BTBOEXIFOUIFm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æHUNDREDSæOFæ3-3ESæSENTæTOæUS æTHISæNEWæFEEDBACKæ SYSTEMæ HASæ EVOKEDæ TREMENDOUSæ RESPONSEæ 'OINGæ AHEAD æWEREæUSINGæWHATæYOUREæSAYINGæTOæINCORPORATEæ CHANGESæINTOæOURæCONTENTæ+EEPæITæCOMING ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
>ciZa9ZkZadeZg;dgjb *OUFMTIPXDBTFEJUTBSSBZPGOFXBOEOPUBCMFUFDIOPMPHJFTQPJTFEUPDIBOHF UIFGBDFPGDPNQVUJOHBU*%'
5 ]1BUSJDL(FMTJOHFS HZc^dgK^XZEgZh^YZci! >ciZa
CZlhl^gZ
*OUFMIBTUBLFO NPCJMFDPNQVUJOH UPOFXMFWFMTPG QFSGPSNBODF DPOOFDUJWJUZBOE CBUUFSZMJGF
IJTZFBSIBTTFFOPOFPGUIFGBTUFTU BOESFWPMVUJPOBSZHSPXUITPG QSPEVDUTJODPNQVUJOHXIFO*OUFM EFDJEFEUPTUJDLUPJUTDPSFDPNQFUFODZ EFWFMPQJOHQSPDFTTPSDIJQT8JUIUIF MBVODIPGUIF$PSF%VPQSPDFTTPSTOBNFE .FSPN MBQUPQT
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mFMET BOEQSPGFTTJPOTJODMVEJOHEFWFMPQFST NBOVGBDUVSFST FOHJOFFST TZTUFN JOUFHSBUPST TPMVUJPOQSPWJEFST FOUIVTJBTUT NFEJBBOETUVEFOUT5IFGPSVNJTB DPNNPOJOUFSBDUJPOQMBUGPSNGPSBMMPG UIFTFQFPQMFBOE*OUFMBMPOHXJUIJUT QBSUOFST
PG*OUFMTMFBEFSTIJQJONBOVGBDUVSJOH TJMJDPOXBTUIFQSFTFOUBJUPOPGJUT DPSFQSPDFTTPSTZTUFNBU*%' DBQBCMFPG EFMJWFSJOHUFSBnPQ POFUSJMMJPOn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mUBXJEFWBSJFUZ PGBQQMJDBUJPOTUIBUJOWPMWFHSBQIJDT WJEFP FODPEJOHBOEQSPDFTTJOH %JNBHJOH HBNJOH XFCTFSWFSTBOEBQQMJDBUJPO TFSWFST 1SPEVDUTUIBUNBLFVTFPG*OUFMT OFYUHFOFSBUJPOONUFDIOPMPHZXJMM
@ZnYZh`ideVcYhZgkZg iZX]cdad\^Zh *%'DPNNFODFEXJUIBLFZOPUFGSPN 1BUSJDL(FMTJOHFS 4FOJPS7JDF1SFTJEFOUBOE (FOFSBM.BOBHFSPGUIF%JHJUBM&OUFSQSJTF (SPVQGPS*OUFM XIPPVUMJOFEUIFDPNQBOZT VQDPNJOHNVMUJDPSFQSPEVDUSPBENBQ *OUFMJTQSPNPUJOHNVMUJDPSFTZTUFNT BHHSFTTJWFMZBTJUCFMJFWFTUIBUUIFGVUVSFPG DPNQVUJOHMJFTJOTVDITZTUFNT"OFYBNQMF
5FSBGMPQQSPDFTTJOHXJUIDPSFTJOB TJOHMFQJFDFPGTJMJDPO ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
.%737)2%
.PPMZ&EFOUIFNBOCFIJOEUIFTVDDFTT PG$POSPF CFSFMFBTFETPNFUJNFMBUFSOFYUZFBS %FWFMPQNFOUXPSLPOQSPEVDUTUIBUVTF UIFONGBCUFDIOPMPHZIBTBMSFBEZ TUBSUFE*OUFMBOE*#.IBWFDPEFWFMPQFE BTQFDJmDBUJPOGPSBOFX1$*&YQSFTT UFDIOPMPHZ DPEFOBNFEA(FOFTFP UIBUXJMM FYUFOEUIFTUBOEBSEUPJODMVEFDPMPDBUFE IBSEXBSFPOUIFCVT5IFHPBMJTUPNBLF TVDIUBTLTBTWJTVBMJ[BUJPOBOENFEJB QSPDFTTJOH NBUIJOUFOTJWFEBUBDSVODIJOH BOEDPOUFOUQSPDFTTJOHGBTUFSBOENPSF FGmDJFOUUIBOFYJTUJOHBEEPODBSETPS TPGUXBSFBQQSPBDIFT *OUFMIBTBMTPFYUFOEFEUIF*OUFM9FPO QSPDFTTPSMJOFXJUIUIFJOUSPEVDUJPOPGUIF %VBM$PSF*OUFM9FPOQSPDFTTPSTFSJFT 5IJTTFSJFTUBSHFUJOHMPXFOE POFXBZ TFSWFSTUIBUBSFUZQJDBMMZVTFEGPSIPNF PGmDFBOETNBMMCVTJOFTTFTXJMMESBNBUJDBMMZ JNQSPWFTFSWFSQFSGPSNBODFBOEQPXFS FGmDJFODZ5IFMBUFTUVMUSBEFOTF%VBM$PSF *OUFM9FPOQSPDFTTPSUIBUVTFTPOMZ XBUUTPGQPXFSXBTBMTPTIPXDBTFE 'PSCVTJOFTT1$T *OUFMW1SPUFDIOPMPHZ FYUFOETUIFQMBUGPSNTNBOBHFBCJMJUZ BOETFDVSJUZDBQBCJMJUJFT5IJTQMBUGPSN XJMMJODMVEFUIFUIJSEHFOFSBUJPOPG*OUFM "DUJWF.BOBHFNFOUUFDIOPMPHZ BEEJOH TVQQPSUGPSUIFOFX84."/ 8FC 4FSWJDFT.BOBHFNFOU TUBOEBSEBOEOFX A4ZTUFN%FGFOTFGFBUVSFTUIBUDBOTMPX PSTUPQUIFTQSFBEPGWJSVTFTBOEXPSNT 4FDVSJUZUFDIOPMPHJFTMJLFUIF*OUFM5SVTUFE &YFDVUJPO5FDIOPMPHZXJMMBMTPCFBQBSUPG 1$TZTUFNT
L^gZaZhhVcYbdW^a^in iZX]cdad\^Zh 5IFOFYUHFOFSBUJPO*OUFM$FOUSJOP%VP QMBUGPSNXJMMGFBUVSFBO*OUFM$PSF%VP
QSPDFTTPSUIBUJTOPUPOMZGBTUFSCVUXJMMBMTP QSPWJEFCFUUFSQPXFSTBWJOHDBQBCJMJUJFT 5IJTXJSFMFTTDIJQTFUXJMMCFVQHSBEFEUP JODMVEFJOUFSPQFSBCJMJUZXJUITUBOEBSETMJLF OXIJMFCFJOHCBDLXBSEDPNQBUJCMF XJUI8J'J 5IFOFYUHFOFSBUJPOMBQUPQTXJMM GFBUVSFCFUUFSQPXFSTBWJOHGBDJMJUJFTJOUIF .FSPNQSPDFTTPST BGBTUFSGSPOUTJEFCVT GSPN.)[VQUP.)[ FOBCMJOH HSFBUFSFOFSHZFGmDJFOUQFSGPSNBODF5IF OFXFSQSPDFTTPSTXJMMCFBCMFUPNBLFVTF PGUFDIOPMPHJFTMJLFMPOHFSSFTJEFODZJO &OIBODFE%FFQFS4MFFQMPXQPXFSTUBUF BOE%ZOBNJD'SPOU4JEF#VT4XJUDIJOH XIJDIXJMMCBTJDBMMZIFMQSFEVDFQPXFS DPOTVNQUJPOXJUIPVUDPNQSPNJTJOHPO QFSGPSNBODF 8JSFMFTT*OUFM"DUJWF.BOBHFNFOU 5FDIOPMPHZXJMMIFMQUPJNQSPWFB DPNQBOZTJOGPSNBUJPOUFDIOPMPHZ FGmDJFODZ BTTFUNBOBHFNFOU TZTUFN TFDVSJUZBOEBWBJMBCJMJUZ VMUJNBUFMZ MPXFSJOHUPUBMDPTUPGPXOFSTIJQ5IFOFX TZTUFNTXJMMBMTPJODMVEF*OUFMTJOOPWBUJWF nBTINFNPSZCBTFEBDDFMFSBUPS FOBCMJOH UIFNUPSFTVNFQSPEVDUJWJUZGSPN IJCFSOBUJPOBOESVONVMUJQMFBQQMJDBUJPOT GBTUFS TBWFXBUUTPGQPXFSJOUIFIBSE ESJWF BOECPPUGBTUFS*OBEEJUJPO *OUFMXJMM SFWBNQJUTDIJQTFUXJUIBOFXJOUFHSBUFE HSBQIJDTDPSF PGGFSJOHOFXMFWFMTPG SFBMJTN MJGFMJLFFGGFDUTBOEIJHIEFmOJUJPO QMBZCBDL *OUFMJTBMTPTIJQQJOHUIF*OUFM8J."9 $POOFDUJPO UIFDPNQBOZTmSTU TZTUFNPODIJQEFTJHOFEUPTVQQPSUNPCJMF 8J."9OFUXPSLT$VSSFOUMZ "JSDFMJTUIF POMZQSPWJEFSPGGFSJOH8J."9BDDFTTJO $IFOOBJBOENBOZPUIFSQSPWJEFSTBSF MJLFMZUPGPMMPXTVJUUIVTNBLJOH8J."9B TUBOEBSEMJLF8J'J
8aVhhbViZE8 5IF$MBTTNBUF1$ BMTPMBVODIFEBU*%' JT CBTJDBMMZBMBQUPQQPJTFEUPSFWPMVUJPOJ[F UIFQIJMPTPQIZPGDPNQVUJOH5IJT1$BJNT UPCFBOBGGPSEBCMFDPNQVUJOHFOWJSPONFOU GPSCPUIUFBDIFSTBOETUVEFOUT4PNFPGUIF LFZQPJOUTPGUIF$MBTTNBUF1$BSF *UTQPSUTBSVHHFEEFTJHO"TUIJT1$ JTEFTJHOFEGPSLJETGSPNUIFUIUI HSBEF JUJTNBOEBUPSZUIBUTVDIB TZTUFNCFTUSPOHFOPVHIUPSFTJTUEBZ
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
./6%-"%2æææÊ\ÊÊ / /Ê "*1/ Ê *
HBHjhHidgnXdYZ/C;>HZZEV\Z&-[dgYZiV^ah
.%737)2%
L]^h`Zgh^cheVXZ
K^gjhX]^e[dgY^\^XVbh
*
-
GZPVWFBMXBZTCFFOGBTDJOBUFECZUIF VOLOPXOBOEXBJUJOHUPmOEPVUBCPVU MJGFPOPUIFSQMBOFUTPSXIBUMJFTCFOFBUI POUIFPDFBOTnPPSIFSFTBOJOUFSFTUJOH QJFDFPGJOGPSNBUJPOGPSZPV+PF4PMPNPO BOE.JUSB)BSUNBOOGSPN/PSUIXFTUFSO 6OJWFSTJUZJO&WBOTUPO *MMJOPJT IBWF EFWFMPQFEEFMJDBUFBSUJmDJBMXIJTLFST5IF QVSQPTFPGUIFTFXIJTLFSTJTUPNJNJDUIF XBZSBUTBOETFBMTTFOTFUIFJSQSFZ
5IJTNFBOTUIBUPOFEBZQMBOFUBSZSPWFST PSTVCNBSJOFTEFQMPZFEUPEJTDPWFSXIBUMJGF JOUIFEFFQFTUQPSUJPOPGUIFPDFBOJTMJLF XJMMCFBCMFUPFYQMPSFUIFTIBQFBOEUFYUVSF PGTUSBOHFPCKFDUTUIBUUIFZNBZDPNF BDSPTT5IFXIJTLFSTNBEFJOCPUITUFFM BOEQMBTUJDDBOBDDVSBUFMZTFOTFEJGGFSFOU TIBQFTBOEUFYUVSFT3BUTVTFUIFJSXIJTLFST UPEJTDFSOGFBUVSFT UIFZEPUIJTCZSPUBUJOH UIFXIJTLFSTBHBJOTUPCKFDUT4FBMTPOUIF PUIFSIBOE JOPSEFSUPTFOTFUIFJSQSFZ mY UIFJSXIJTLFSTJOBQBSUJDVMBSQPTJUJPOUP TFOTFDIBOHFTJOUIFnPX&BSMJFS DPNQMFY TPGUXBSFXBTSFRVJSFEUPQSPDFTTEBUBPO UIFQPTJUJPOPGFBDIXIJTLFSMJLFTFOTPSBOE NPOJUPSJUTNPWFNFOUPWFSUJNF 4PMPNBOBOE)BSUNBOODBNFBDSPTT BOPUIFSUFDIOJRVFBOEmHVSFEJUXPVMECF TJNQMFSUPVTFUIFiCFOEJOHNPNFOUwPS UPSRVF5IFUPSRVFJTFYFSUFEBUUIFCBTF PGFBDIXIJTLFSUPFYUSBDUJOGPSNBUJPO /"4" BOEMBUFSUIF64/BUJPOBM4DJFODF 'PVOEBUJPO TQPOTPSFEUIFXPSLJOJUTFBSMZ TUBHFTSFBMJ[JOHJUNJHIUPOFEBZCFQPTTJCMF UPGFFEJOUPTQBDFnJHIUPSPUIFSVOEFSXBUFS WFIJDMFEFTJHOT#FGPSFUIFBEWFOUPGUIFTF TFOTPST UIFPOMZPOFTBWBJMBCMFXFSF FYQFOTJWFMBTFSCBTFEPOFT5IFOFXTFOTPST DPVMEQPTTJCMZQSPWJEFBDIFBQFSBMUFSOBUJWF
PPLTMJLFmOEJOHPVUZPVSEJHJUBMDBNFSB IBTCFFOJOGFDUFEXJUIBWJSVTNJHIU OPUCFTVDIBCBEUIJOHBGUFSBMM*UTFFNTB NFNPSZDIJQUIBUJODPSQPSBUFTNJMMJPOTPG WJSVTFTNBZKVTUNBLFZPVSEJHJUBMDBNFSB TVQFSRVJDL 5IFmSTUTUFQ JTUPDSFBUFBUSBOTJTUPS XJUIWFSZGBTUTXJUDIJOH TQFFECZDPBUJOH OBOPNFUFSMPOH DIVOLTPGUPCBDDPNPTBJD WJSVTXJUIQMBUJOVN OBOPQBSUJDMFT&WFOUVBMMZ UIFnBTINFNPSZJOUIF EJHJUBMDBNFSBTPS.1 QMBZFSTDPVMECFSFQMBDFECZBNFNPSZ DIJQIPVTJOHNJMMJPOTPGUIFTFUSBOTJTUPST 0OFPGUIFNFNCFSTPGUIFUFBNXPSLJOH POUIFDIJQBUUIF6OJWFSTJUZPG$BMJGPSOJB :BOH:BOH TBZTUIBUBDBNFSBmUUFEXJUIB WJSVTDIJQXPVMEUBLFBGFXNJDSPTFDPOET UPEJTQMBZBOJNBHF DPNQBSFEXJUIUIF NJMMJTFDPOETUBLFOCZEFWJDFTDVSSFOUMZ 5IFUFBNFNCFEEFEUIFDPBUFEWJSVT
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mOEBXBZUPXJSFVQUIF WJSVTFTCVUUIFZIPQFUPCVJMEBQSPUPUZQF QBDLFEXJUINJMMJPOTPGTJOHMFWJSVT USBOTJTUPSTXJUIJOGPVSZFBST
6k^gijVaangZVa=daanlddY
)
PXXPVMEZPVMJLFJUJGTPNFPOF DSFBUFEBWJSUVBMJNBHFPGZPV XJUI BMMZPVSFYQSFTTJPOTZPVSTNJMF GSPXOBOE UIFXBZZPVXSJOLMFZPVSOPTFPSXJHHMF ZPVSFBST8IBUJGJUDPVMEHPPOFTUFQBIFBE BOENBUDI OPUBOPCWJPVTFYQSFTTJPOCVU TPNFUIJOHGBSNPSFTVCUMF MJLFUIFMPPL JOZPVSFZFT 5IJTNBZTFFNBMJUUMFTDBSZ CVU*NBHF.FUSJDTIBTNBEFJUQPTTJCMF XJUITPGUXBSFUIBUMFUTBDPNQVUFSNBQ BOBDUPSTQFSGPSNBODFPOUPBOZDIBSBDUFS WJSUVBMPSIVNBO MJWJOHPSEFBE"OEZ8PPE DIBJSNBOPG*NBHF.FUSJDTIBTDBMMFEJU iTPVMUSBOTGFSFODFw /PSNBM TUBOEBSEIBOEESBXO DPNQVUFSHSBQIJDTSFRVJSFBMPUPGFGGPSUJO UIFXBZPGUJNFBOENPOFZ#VUDSFBUPST BU*NBHF.FUSJDTDMBJNUIJTTPGUXBSFXJMM FBTFBMMPGUIJT"MTP JUHJWFTXBZNPSF JNQPSUBODFUPEFUBJM'PSJOTUBODF UIF NPWJF5IF1PMBS&YQSFTTVTFEUIFANPUJPO DBQUVSFBOJNBUJPOUFDIOJRVFUPGPDVTPO UIFCPEZNPWFNFOUCVUOPUPOUIFFZFT PSUIFUPOHVFXIJDIBSFDSVDJBMXIFOJU DPNFTUPFYQSFTTJOHIVNBOFNPUJPOT5IJT
TPGUXBSFXJMMFOBCMFBMMPGUIBU 5IFTPGUXBSF BDDPSEJOHUP8PPE XIPXBTIJSFEUPJOUSPEVDF)PMMZXPPE UPUFDIOPMPHZ XJMMBMMPXUIFJOEVTUSZUP SFBOJNBUFNPWJFTGSPNZFBSTHPOFCZ 8IPLOPXT XFNJHIUTPPOTFF.BSJMZO .POSPFBOE+BDL/JDIPMTPOJOBNPWJF UPHFUIFS*NBHF.FUSJDTJTBMMTFUUPWFOUVSF JOUPVODIBSUFSFEUFSSJUPSZQSPWJEFEJU TVTUBOUJBUFTJUTDMBJNT5IFQSPTQFDU TFFNTMJLFGVOCVUJUNBZOPUCFFWFSZPOFT DVQPGUFB 5IFHSBQFWJOFJTSJGFXJUIOFXTBCPVU QSPKFDUTUIBUBSFBMSFBEZDJSDVMBUJOHBSPVOE )PMMZXPPETFFLJOHUPSFWJWFEFBEBDUPST ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
.%737)2%å
;V`ZhcdbdgZ
'
PSHFSTBSFHPJOHUPmOEJUFYUSFNFMZ EJGm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
IZX]i]ZgVen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
5
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
./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
HBHjhEdaa/9dndjeaVn\VbZhdcVXdchdaZ4HZZGZVYZgh¼AZiiZgh[dgYZiV^ah
.%737)2%
E]dcZhZXjgZ
;^h]^c\[dgigdjWaZ
4
4
PPOJUXJMMCFEJGmDVMUGPSUIJFWFT UPTFQBSBUFDFMMQIPOFTGSPNUIFJS PXOFSTJO+BQBO /55%P$P.P BNPCJMFUFMFQIPOF PQFSBUPSJO+BQBO IBTEFWJTFEBXBZUP TBGFHVBSEBHBJOTUNPCJMFUIFGU5IFZ IBWFMBVODIFEUIF1J BNPCJMFQIPOF UIBUIBTCFFOEFTJHOFEUPEJTBCMFJUTFMG BVUPNBUJDBMMZXIFOTFQBSBUFEGSPN JUTPXOFSGPSUPPMPOH5IFQIPOFXBT DSFBUFEUPQSFWFOUVOBVUIPSJTFEVTBHF 5IFIBOETFUXJMMGFBUVSFBXJSFMFTT DBSEXIJDIXIFOQMBDFEJOTJEFBXBMMFU PSIBOECBHXJMMEFUFDUXIFOUIFPXOFS
JTNPSFUIBOBGFXNFUSFTBXBZGSPNJU 5IFDFMMQIPOFXJMMCFNBOVGBDUVSFECZ 1BOBTPOJD BOETPMEXJUIBmOHFSQSJOU SFBEFSBOEWPJDFQSJOUJEFOUJmDBUJPO DBQBCJMJUZ "DDPSEJOHUPBTQPLFTQFSTPOGSPN 1BOBTPOJD UIFQIPOFXJMMCMPDLJUTFMGBOE TUPQUSBOTNJUUJOHUIFTJHOBMBTTPPOBT UIFNPCJMFQIPOFIBTCFFONPWFENPSF UIBOBGFXNFUFSTBXBZGSPNUIFPXOFS 5IFDPNQBOZIBTBMTPDPNFVQXJUI BTFSWJDFUIBUXJMMBMMPXVTFSTUPm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
UBUFTJOUIF64IBWFDPNFVQXJUIB OPWFMJEFBUPLFFQBOFZFPOUIFXBUFS TVQQMZJOUIFDPVOUSZ5IFZIBWFEFQMPZFE DPNQVUFSTUPNPOJUPSUIFNPWFTPGFWFSZ FJHIUCMVFHJMMmTIJOBUBOL*GFWFOBGFX PGUIFmTITUBSUUPDPVHI UIFDPNQVUFST XJMMJNNFEJBUFMZTFOEPVUBMFSUTBOE CFHJOUBLJOHXBUFSTBNQMFT 5IFDPOUSBQUJPOJTLOPXOBTUIF *OUFMMJHFOU"RVBUJD#JP.POJUPSJOHBOEJT CFJOHUPVUFEBTUIFIJHIUFDIEFGFODF TZTUFNUPmHIUQPUFOUJBMUISFBUTBHBJOTU XBUFSTVQQMZJOUIFDPVOUSZ4PJGUIFSFT FWFOBNJOPSEJFTFMTQJMMGSPNBUSVDL BDDJEFOU UIFXBUFSTBNQMFTUFTUFECZUIF DPNQVUFSXJMMJEFOUJGZJU 5IFFRVJQNFOUDVSSFOUMZCFJOH VTFEGPSUIJTIJHIUFDIEFGFODFTZTUFN CZUIF/FX:PSL$JUZ%FQBSUNFOUPG &OWJSPONFOUBM1SPUFDUJPOXBTMPBOFEUP UIFNCZUIF"SNZ 4DJFOUJTUTIBWFJODSFBTJOHMZCFFO MPPLJOHUPOBUVSFBOEIJTUPSZUPmOEPVU JGUIFSFTBOZDPOUBNJOBUJPOXJUIBJSPS
XBUFS5IJTFYQFSJNFOUPOMZSFJUFSBUFT UIFTFOTJUJWJUZPGOBUVSBMTVCTUBODFT BOEBOJNBMTUPPVUFSJOnVFODFTPOUIF FOWJSPONFOUBOEOBUVSF 5ISFFDJUJFTJOUIF6OJUFE4UBUFT IBWFBMSFBEZVTFEUIFmTIBOEUIFJS DPSSFTQPOEJOHDPNQVUFSTJOBQJMPU QSPHSBN"MTP UIFTFIBWFCFDPNFB QFSNBOFOUQBSUPGUIFDJUJFTXBUFS TVQQMZEFGFOTF "QQBSFOUMZ UIFTFOTPSXBTEFWFMPQFE CZUIF"SNZBMPOHXJUIBQSJWBUF DPNQBOZ BOEJTDVSSFOUMZCFJOHVTFEBU DFSUBJOVOEJTDMPTFEMPDBUJPOT
I^X"iVX"idZX]Vbe
*
GZPVWFBMXBZTCFFOQSPVEPGZPVSTLJMMT BUCFJOHBCMFUPCFBUFWFOUIFUPVHIFTU DPOUFOEFSTBUOPVHIUTBOEDSPTTFT IFSFTOFXTGPSZPV"SFDFOUMZEFWFMPQFE DPNQVUFSUIBUVTFTTUSBOETPG%/"UP QFSGPSNDBMDVMBUJPOTIBTCFFOEFDMBSFE VOCFBUBCMFBUOPVHIUTBOEDSPTTFT 5IFDPNQVUFS .":"** IBTCFFO EFWFMPQFECZSFTFBSDIFTBU$PMVNCJB 6OJWFSTJUZBOEUIF6OJWFSTJUZPG/FX .FYJDPJOUIF64*UVTFT%/"MPHJDHBUFT GPSJUTDBMDVMBUJPOT0OFTUSBOEPG%/" NBLFTVQFBDIMPHJDHBUFBOEJUCJOET
BOPUIFSTQFDJmDJOQVUTFRVFODFNBLJOHJU XPSLBTBOFO[ZNF XIJDIUIFOXPSLTPO BOPUIFSTFRVFODFUPDSFBUFBOJOQVU 5IJTJTUIFmSTUTUBHFGPSCJP DPNQVUFST CVUUIFNBDIJOFJTTUJMMGBSUPP TMPXGPSJUUPCFPGBOZVTFZFU/PVHIUT BOEDSPTTFTJTBMPOHESBXOPVUHBNF TJODFUIFDPNQVUFSDBOUBLFBOZUIJOH CFUXFFOUXPUPNJOVUFTUPmOJTI UIFHBNF'VSUIFSNPSF FBDIUJNFUIF DPNQVUFSNBLFTBNPWF JUSFRVJSFT BOPUIFSNBDIJOFKVTUUPUSBOTMBUFUIF nVPSFTDFOUTJHOBMT "MUIPVHI%/" DPNQVUFSTDBQBCMFPG WBSJPVTTJNJMBSTJNQMF DBMDVMBUJPOTIBWFBMSFBEZ CFFOEFWFMPQFECZ TDJFOUJTUT UIFTFSFTFBSDIFST CFMJFWFUIFJSTZTUFNXJMMCF CFOFmDJBMGPSFYQMPSJOHUIF EJGGFSFOUXBZTBOENFBOT UPJEFOUJGZUIFHFOFUJD NBSLFSTBTTPDJBUFEXJUI DFSUBJOEJTFBTFT ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
.%737)2%
6B9¼hFjVYd[[Zg^c\h
K^YZdLVa`bVc^ci]Zd[[^c\
"
"
GFXZFBSTBHP UIF(JHBIFSU[3BDF CFUXFFO".%BOE*OUFMNBEF IFBEMJOFT8IJMF".%XPOUIFXBS XJUIUIFMBVODIPGUIFmSTU()[ NJDSPQSPDFTTPSXJUIJUT"UIMPO()[ *OUFMIBEUPCFDPOUFOUCFJOHTFDPOE#VU UIJTEJEOPUEFUFS*OUFMGSPNXJOOJOHUIF A(JHBIFSU[3BDFBOEQJPOFFSJOHNVMUJ DPSFQSPDFTTJOH&WFSTJODFUIFO".% GPMMPXFE*OUFM XIFUIFSJUXBT SFBDIJOHUIF()[ NBSLPSJOUSPEVDJOH %VBM$PSF NJDSPQSPDFTTPST 3FDFOUMZ XIFO*OUFMMBVODIFEJUTmSTU 2VBE$PSFNJDSPQSPDFTTPS JUXBTQBOOFE CZ".%BTAOPUUSVFNVMUJDPSF#VUXF XJMMTPPOTFFUIFMBVODIPG2VBEGBUIFS PSYBT".%NBSLFUFSTMJLFUPDBMMJU *OUFMT2VBE$PSFNJDSPQSPDFTTPS$PSF &YUSFNF2$CBTFEPOUIF ,FOUTmFMEBSDIJUFDUVSFGFBUVSFTUXP $POSPFDPSFTBOETIBSFTUIFGSPOUTJEF CVT".%TYJT JOGBDU BEVBMEJF 2VBE$PSFDIJQBOEVTFTUIF0QUFSPO QSPDFTTPSTPDLFU "DPNQBUJCMFDIJQTFUGPSUIFY NJDSPQSPDFTTPSUIFO'PSDFBJT MJLFMZUPCFMBVODIFETPPO JOEJDBUJOHB TUSPOHQBSUOFSTIJQCFUXFFO".%BOE /WJEJB EFTQJUF".%TUBLFPWFSPG/WJEJBT NBKPSSJWBM"5*5IFO'PSDFBDIJQTFU CBTFENPUIFSCPBSETXPVMEGFBUVSF 4PDLFU ".%XJMMCFMBVODIJOHUIF'9TFSJFT GPS"UIMPOT XIJDIBDDPSEJOHUPTPNF TPVSDFT TFFNTUPCF0QUFSPOT5ISFF'9 QSPDFTTPSTPGWBSZJOHDMPDLTQFFETBSF QPJTFEUPCFSFMFBTFE"MMPGUIFNXJMM GFBUVSFB,#-BOE.#-DBDIF NFNPSZ FBDIDPSFIBT ,#-BOE .#-DBDIF 5IF'9XJMMCFDMPDLFE BU()[ UIF'9BU()[5IF MBUUFSPVUDMPDLT*OUFMT,FOUTmFMETPJG ZPVBSFXPOEFSJOHXIFUIFSUIFDMPDL SBDFCFUXFFOUIFUXPHJBOUTJTPWFS UIJOLBHBJO 5IF".%'9DMPDLFEBU()[ XPVMEmOBMMZCSFBLUIF()[DMPDL CBSSJFS8IPLOPXTJUNJHIUGFUDI".% JUTMPTUOVNCFSPOFTMPU
GUFSUIFTVDDFTTPGUIFIVHFMZQPQVMBS WJEFPJ1PE UIFNBSLFUIBTCFFO JOVOEBUFEXJUIQPSUBCMFWJEFPQMBZFST GSPNNBOVGBDUVSFSTBMMBOETVOESZ 5IFSFGPSF JUTPCWJPVTUIBUFOUFSUBJONFOU HJBOU4POZDBOOPUCFBOZGBSCFIJOE 5IFMBUFTUOFXTJTUIBU4POZIBTBWJEFP 8BMLNBOPOUIFESBXJOHCPBSEBOE IBTIVHFQMBOTUPJODSFBTFJUTNBSLFU TIBSFJOUIFEJHJUBM NVTJDNBSLFU i8FBSFEFWFMPQJOH BQSPEVDUUIBUIBOEMFT JNBHFT CVU*DBOOPU NBLFBOZDPNNFOUPO TQFDJmDQMBOTw 4POZ 4FOJPS7JDF1SFTJEFOU )JSPTIJ:PTIJPLBTBJE EVSJOHBOFXTDPOGFSFODFVOWFJMJOH VQDPNJOH8BMLNBONPEFMT "MUIPVHITUJMMJOUIFEFWFMPQNFOU TUBHF UIFWJEFP8BMLNBOTFFNTUPCF QPJTFEUPNBLFBVOJRVFQMBDFGPSJUTFMGJO UIFQPSUBCMFWJEFPQMBZFSBSFOB5IPVHI 4POZEPNJOBUFEUIFQPSUBCMFNVTJD QMBZFSNBSLFUXJUIJUTFQPDINBLJOH 8BMLNBOGPSEFDBEFT JOSFDFOUZFBSTXF IBWFTFFOJUUSBJMJOHCFIJOE"QQMFJOUIF
QPSUBCMFEJHJUBMNVTJDQMBZFSBSFOBJUT POMZGFXZFBSTCBDLUIBU4POZMBVODIFE UIFEJHJUBM8BMLNBOCVUJUGBJMFEUPDSFBUF NVDImSFBOETVDDVNCFEUPUIFSFJHOJOH J1PEQMBZFST )PXFWFS XFXJUOFTTFEUIFFOUSZ PGUIF8BMLNBODPODFQUJOUP4POZT NPCJMFQIPOFT XIJDIHBJOFEJNNFOTF QPQVMBSJUZBNPOHZPVOHNVTJDMPWFST 5IF8BMLNBOQIPOF PODFBHBJOSFJUFSBUFE UIFJNQPSUBODFPG DPOWFSHFODFBGUFSBMM ZPVDBOIBWFBMMZPVS OFFET FOUFSUBJONFOU JODMVEFE UBLFODBSFPG CZPOFHBEHFU 1PSUBCMFNVTJD QMBZFSNBLFSTBSFFYQFDUFEUPGBDFB OFXBOEQPUFOUJBMMZGPSNJEBCMFSJWBM BT.JDSPTPGUMBVODIFTJUTmSTUQPSUBCMF NVTJDQMBZFS OBNFE;VOF UIFSFCZ BVHNFOUJOHDPNQFUJUJPO.JDSPTPGU JOUFOETUPSFMFBTFUIJTNVDIBXBJUFE QMBZFSCZUIFFOEPGUIJTZFBS 8BUDIUIJTTQBDFUPmOEPVUIPXUIFTF QPSUBCMFQMBZFSTEVLFJUPVUJOUIFmHIU GPSUIFUPQQPTJUJPO
>i¼hcdiVaa
3
FNFNCFSIPXEJGm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æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
.%737)2%å
./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
.%737)2%
EVhhldgY]VW^ih
9n^c\WViiZg^ZhcdiVegdWaZb
5
*
IFSFTOPXPSTFCSFBDIPGTFDVSJUZ UIBOXSJUJOHEPXOZPVSQBTTXPSEPO BTMJQPGQBQFSBTBSFNJOEFS*UTTUSBOHF UIBUFWFOUPEBZXIFOXFBSFFYQPTFE UPTFDVSJUZSJTLT QFPQMFBSFTUJMMDBTVBM FOPVHIBOEKPUEPXOUIFQBTTXPSET UPUIFJSTZTUFNTJOTQJUFPGSFQFBUFE XBSOJOHTPGUIFIB[BSETPGUIJTIBCJU (MPCBMSFTFBSDImSNT/VDMFVT3FTFBSDI BOE,OPXMFEHFTUPSNEJTDPWFSFEJO BTVSWFZDPOEVDUFECZUIFNUIBUTP GBSUIFFGGPSUTUBLFOCZDPNQBOJFT UPNJOJNJ[FTFDVSJUZSJTLTCZNBLJOH QBTTXPSETNPSFDPNQMFYIBWFCFFOJO WBJO5IJTJTCFDBVTFPOFJOUISFFQFPQMF XJMMTUJMMNBLFOPUFPGUIFJSQBTTXPSET
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
>cY^\ZcdjhhZVgX] FJUIFSPOQBQFSPSPOUIFJS1$T PSPO UIFJSNPCJMFQIPOFT*UTJNQFSBUJWF UIBUDPNQBOJFTMPPLUPNPSFBEWBODFE NFUIPET JODMVEJOHCJPNFUSJDTTVDIBT WPJDFSFDPHOJUJPOEFWJDFTPSUIVNCQSJOU TDBOOFST PSDPHOJUJWFCJPNFUSJDTUIF MBUFTUTFDVSJUZTZTUFNQJDLTVQZPVS DIBSBDUFSJTUJDTPOUIFCBTJTPGNVMUJQMF DIPJDFBOTXFSTUIBUZPVSFBEPVUUP FOTVSFUIFTBGFUZPGTZTUFNT 5IFTVSWFZXIJDIDPWFSFE64 FNQMPZFFTDPODMVEFEUIBUBTJOHMF TJHOPOTZTUFNJTKVTUBTFGGFDUJWF BTPOFXJUINPSFDPNQMFYTDIFNFT BOEUIBUFEVDBUJOHFNQMPZFFTBCPVU UIFJNQPSUBODFPGQSPQFSQBTTXPSE QSPUFDUJPOEPFTOUOFDFTTBSJMZNFBO UIFZMMCFNPSFDBVUJPVT "DDPSEJOHUP%BWJE0$POOFMM TFOJPS BOBMZTUBU/VDMFVT3FTFBSDI QFPQMF HFOFSBMMZGPSHFUUIFNPSMPTFUIF OPUFTPOXIJDIUIFZIBWFXSJUUFO UIFN BOEUIFOJUCFDPNFTEJGmDVMUUP SFTFUUIFN
*
OEJBJTGBTUDBUDIJOHVQXJUIUIFSFTU PGUIFXPSMEJONBUUFSTPGUFDIOPMPHZ 5IFDPVOUSZKVTUHPUJUTWFSZPXOTFBSDI FOHJOF (VSVKJDPN SFDFOUMZGPVOEFECZ UXP%FMIJ**5HSBEVBUFT"O*OEJBOWFOUVSF DBQJUBMmSN 4FRVPJB$BQJUBM*OEJB IFMQFE UPMBVODIUIFDPVOUSZTmSTUMPDBM*OUFSOFU TFBSDIFOHJOF XJUIBDPNNJUNFOUPG NJMMJPO "DDPSEJOHUPDPGPVOEFSBOE$&0 "OVSBH%PE UIFTFBSDIFOHJOFJT BJNFEBUUIF*OEJBOXFCDPOTVNFS BOEJTGPDVTFEPOQSPWJEJOHCFUUFS TFBSDISFTVMUTCZMFWFSBHJOHQSPQSJFUBSZ BMHPSJUINTBOEEBUBJOUIF*OEJBO DPOUFYU"GUFSDPOTJEFSBCMFSFTFBSDI JOWPMWJOHTJHOJmDBOU*OUFSOFUBOETFBSDI FYQFSJFODF %PEBOEGFMMPXDPGPVOEFS BOEDIJFGPQFSBUJOHPGmDFS(BVSBW.JTISB SFUVSOFEGSPN4JMJDPO7BMMFZUPTUBSUUIF TFBSDIFOHJOF5IFZmSTUBDRVJSFETFFE GVOEJOHGPSUIFWFOUVSFGSPN4FRVPJB $BQJUBM*OEJB BGUFSXIJDIUIFZXFSFBCMF UPTFUVQUIFFOHJOF "DDPSEJOHUP.JTISB UBLJOHJOUP
DPOTJEFSBUJPOUIBUQFSDFOUPG*OEJBO *OUFSOFUVTFSTEPBTFBSDIFWFSZEBZ UIFZ BSFFYQFDUJOHBUSBGmDPG IJUTQFS EBZ JOUIFmSTUGFXNPOUIT&WFOUVBMMZ UIFZFYQFDUUPSFMFBTFUIFFOHJOFJO EJGGFSFOU*OEJBOWFSOBDVMBSMBOHVBHFT "TUIFOBNFTVHHFTUT UIFQSJNBSZBJN PGUIFXFCTJUFJTUPQSPWJEFFBTZBDDFTT UPJOGPSNBUJPO5IFDSFBUPSTPG(VSVKJ DPNIBWFQBSUJDVMBSMZGPDVTFEPO*OEJBOT BOE*OEJBODPOUFOU4POPXZPVIBWFBO FOHJOFUIBUXJMMFOBCMFZPVUPTFBSDIGPS BMMUIJOHTSFMBUJOHUPUIFDPVOUSZPSFWFO UIFDJUZZPVMJWFJO
).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
.%737)2%
I]ZI]g^aahd[(9 "VUPEFTLIBTSFWPMVUJPOJ[FEUIFXBZHBNFTBOENPWJFTBSF NBEFXJUIJUT%NPEFMJOHBOEBOJNBUJPOQSPEVDUT8FEFMWF JOUPIPXUIFZIBWFIFMQFEUIFJSDMJFOUTSFBMJ[FUIFJS%ESFBNT
5 ].JDIFM#FTOFS Hg9^gZXidg! (9EgdYjXiBVcV\ZbZci BZY^VVcY:ciZgiV^cbZci! 6jidYZh`
8IFUIFSZPVBSF NBLJOHBNPWJF PSEFWFMPQJOH BHBNF UIFSF JTPOFDPNNPO UISFBEGPSBMMPVS DVTUPNFSTUFMMJOH BTUPSZ
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
8=>E/
8=>E/IZX]cdad\^XVaVYkVcXZbZcih^c ]VgYlVgZdXXjgViVgVe^YeVXZl]ZgZVhi]Z hd[ilVgZ^cYjhign\ZcZgVaan]VhidXViX]je# >hndjghd[ilVgZgZVYn[dgcZmi"\ZcZgVi^dc Xjii^c\ZY\Z]VgYlVgZ4 .#5IFQSPEVDUJPOQSPDFTTIBTCFDPNF NPSFBOENPSFDPNQMFY0VSDVTUPNFSTBSF QVTIJOHUIFCPVOEBSJFTPORVBMJUZBOEUIFUPUBM WPMVNFPGDPOUFOUIBTBMTPJODSFBTFE4PUIF SFRVJSFNFOUTPGNBOBHJOHEBUBDPNQMFYJUZ BSFNPSFBOEUIFSFGPSFJUJTFTTFOUJBMGPSVTUP QSPWJEFUIFSJHIUUPPMT8JUIUIFMBUFTUWFSTJPOT PG.BYBOE.BZB XFIBWFGVMMCJUTVQQPSU 8FIBWFBMTPJNQSPWFEPONVMUJUISFBEJOH BOENVMUJDPSFTVQQPSU UIFSFCZJODSFBTJOHUIF QFSGPSNBODFMFWFMTBTXFMMBTCFUUFSNFNPSZ NBOBHFNFOU5IVT XFBSFJOBQPTJUJPOUP VTFBMMPGUIFMBUFTUUPQPGUIFMJOFIBSEXBSF BWBJMBCMFJOUIFNBSLFU5PEBZ UIFSFBSFNBOZ XBZTJOXIJDISFOEFSJOHDBOCFQFSGPSNFE 'SPNSFBMUJNFSFOEFSJOHVTFEJOHBNFTUP QSFSFOEFSFEIJHIEFmOJUJPORVBMJUZNPWJFT DVTUPNFSTDBOVTFPVSUPPMTUPPVUQVUEJGGFSFOU m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
8=>E/9dZh6jidYZh`egdk^YZZcY"id"ZcY hdaji^dch4 .#8FQSPWJEFNVMUJQMFPGGFSJOHTUPPVS DVTUPNFSTGSPNBXJEFBSSBZPGTPMVUJPOT'SPN UPPMTUPDSFBUJOHZPVSMBZPVU TUPSZCPBSEBMMUIF ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
.%737)2%
XBZUPNPEFMJOHBOEDPNQPTJUJOH BOEDPMPS HSBEJOH8FIBWFUPPMTUIBUXPSLXFMMUPHFUIFS BOEJOUFHSBUFUIFNTFMWFTXFMM8FBMTPQSPWJEF TUSPOHTFSWJDFTUPPVSDVTUPNFST8IFUIFS ZPVOFFEIFMQJOUSBJOJOHZPVSFNQMPZFFTPS DSFBUJOHBQSPKFDUPSCFUUFSDVTUPNFSTFSWJDFT XFPGGFSBMMPGUIFTFBQBSUGSPNKVTUPGGFSJOH DVUUJOHFEHFTPGUXBSF
8=>E/8VcndjZaVWdgViZVa^iiaZdci]Z;7M hiVcYVgYVcY]dl^i]Zaeh^cXdbbjc^in Wj^aY^c\4 .#5IF*OEJBONBSLFUJTBLFZBSFBGPSPGGTIPSF EFWFMPQNFOU DPOUSBDUXPSLBOEDPQSPEVDUJPO 8FIBWFBXJEFVTFSCBTFBMMBSPVOEUIFXPSME BOEFWFOIFSFJO*OEJB5IFZDBOCFHSFBUBTTFUT UPIFMQDPNQBOJFTJO*OEJBTUBGGVQGPSUIF QSPKFDUTPVUTPVSDFEUPUIFNBOEUPEFMJWFSUIF QSPKFDUTPOUJNF BOEPOBTQFDJmFECVEHFU 0SHBOJ[BUJPOTJOEJGGFSFOUQBSUTPGUIFXPSME XPSLPOEJGGFSFOULJOETPGTPGUXBSFUPBDIJFWF UIFJSPCKFDUJWFT TPUIFVTFPGBTUBOEBSEJT FTTFOUJBM4UBOEBSETMJLF'#9OPUPOMZFOTVSF JOUFSQSPEVDUDPNQBUJCJMJUZGPS"VUPEFTL QSPEVDUTCVUJUBMTPIFMQTPUIFS%TPGUXBSF DPNQBOJFTTUBOEBSEJ[FPOBmMFGPSNBUUP FOTVSFJOUFSQSPEVDUPQFSBCJMJUZ5IVTVTFSTDBO BMTPDPOUSJCVUFVTJOHUIJTTUBOEBSE'#9JTBm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
8=>E/=dlYdZh6jidYZh`Xdcig^WjiZid e]nh^Xh^c\VbZh4 .#8FIBWFDMJFOUTXPSLJOHIBSEUPQSPWJEF QIPUPSFBMJTUJDHBNFTBOENPWJFT8FEP QSPWJEFEJGGFSFOUQIZTJDTTPMVUJPOTGPS FYBNQMF JO%4UVEJP.BY XFIBWFB QIZTJDTFOHJOFDBMMFE3FBDUPSBOEXFIBWF TJNJMBSTPMVUJPOTGPS.BZBBTXFMM4PNFPG UIFTPMVUJPOTBSFCVOEMFEBMPOHXJUIUIF
TPGUXBSF3FBDUPSJTPOFTVDIFYBNQMF5IFSF BSFPUIFSTPMVUJPOTUIBUOFFEUPCFCPVHIU TFQBSBUFMZPSMJDFOTFETFQBSBUFMZCVUUIFZDBO CFJOUFHSBUFEXJUIUIFTPGUXBSF
8=>E/L]ViVgZndjgk^ZlhVWdjideZchdjgXZ hd[ilVgZ4 .#0QFOTPVSDFTPGUXBSFIBTDBSWFEB OJDIFGPSJUTFMGUIFSFBSFDPNNVOJUJFTUIBU IBWFBEPQUFEPQFOTPVSDFUIFSFJTBMTPUIF QSPGFTTJPOBMNBSLFUTQBDFXIJDIDPOTJTUTPG UPPMTCVJMUBOEXFMMTVQQPSUFEGPSCVTJOFTTFT*G BDVTUPNFSJOWFTUTNJMMJPOTPGEPMMBSTJONBLJOH BHBNFPSBNPWJF IFDBOBMXBZTSFMZPOB QBSUOFSXIPXJMMCFUIFSFUPTVQQPSUIJN*O PQFOTPVSDFUIFSFJTOPTDPQFGPSBOZTVQQPSU CFDBVTFJGZPVGBDFBQSPCMFNXJUIBOPQFO TPVSDFQSPEVDU ZPVOFFEUIFIFMQPGFYQFSUT UPmYJU4PNPTUDPNQBOJFTUIBUBSF TFSJPVTBCPVUUIFJSCVTJOFTTQSFGFS UPXPSLXJUIQBSUOFSTMJLFVTBOE SFMZPOBOJOUFSOBMEFWFMPQNFOU UFBNUPEFMJWFSUIFJSmOJTIFEQSPEVDU 0QFOTPVSDFJTBGVOQMBDFUPMFBSO BMMBCPVUUIFOVBODFTPG%CVUJGZPV XBOUUPLOPXBCPVUUIFNBSLFU .BY BOE.BZBBSFUIFCJHHFTUUPPMTVTFE QSPGFTTJPOBMMZ
4UBOEBSETMJLF '#9OPUPOMZFOTVSF JOUFSQSPEVDU DPNQBUJCJMJUZGPS "VUPEFTLQSPEVDUT CVUJUBMTPIFMQT PUIFS%TPGUXBSF DPNQBOJFT TUBOEBSEJ[FPOB GJMFGPSNBU
8=>E/L^aai]Z[aV\h]^eegdYjXid[ 6jidYZh`!6jid869XdckZgiid(94 .#"VUPEFTLUSVMZCFMJFWFTUIBU DVTUPNFSTTIPVMECFBCMFUPWJTVBMJ[F UIFJSJEFBT$MFBSMZ%JTPOFDPNQPOFOU UIBUTIPXTBMPUPGWBMVFBOEQSPNJTFJO NBOZXBZT4PNBOZBSFBTPGPVSQSPEVDUT JODMVEJOH"VUP$"%EPIBWFJODSFBTFE% DBQBCJMJUJFT
8=>E/LdjaY^ibV`ZhZchZid ^cXdgedgViZk^gijVagZVa^in^c(9 \gVe]^Xhidegdk^YZVXjhidbZgWZiiZg k^hjVaZmeZg^ZcXZ4 .#4QFDJBMJ[FEFOWJSPONFOUTXJUI WJSUVBMSFBMJUZIBWFMJNJUFENBSLFU QFOFUSBUJPOBTPGOPX4PXFIBWFOPU ZFUEFMWFEJOUPJU ],VOBM3VQFSB
./6%-"%2æææÊ\ÊÊ / /Ê "*1/ Ê *
HBHjhHidgnXdYZ/C;6HZZEV\Z&-[dgYZiV^ah
8dkZghidgn
EgVbdY?VY]Vk
).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
\
$/5",% "!22%,å0#åå åå#/6%234/29
8IZEFCBUFBCPVUXIBUTCFUUFS8JOEPXTPS-JOVY (FUUIFCFTUPGCPUIXPSMETCZSVOOJOHCPUI PQFSBUJOHTZTUFNTBUUIFTBNFUJNF
8
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
>chiVaa^c\Vk^gijVaA^cjmE8dcVcMEhnhiZb "WJSUVBM1$IBTBEWBOUBHFTPGCFJOHBCMFUPFNVMBUFTJNJMBS JOUFSGBDFTUPJUTPSJHJOBMTZTUFNBTXFMMBTCFJOHUPVHIFSBHBJOTU WJSVTFT)FSFJTIPXZPVDBOJOTUBMMJU
IldE8h[dgi]Zeg^XZd[dc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æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
HBHjhHidgnXdYZ/8GHHZZEV\Z&-[dgYZiV^ah
\
å#/6%234/29åå åå$/5",% "!22%,å0#
$IPPTJOHEFTLUPQT'PSUIJTXPSLTIPQ DIPPTFUIFTUBOEBSE,%&MBZPVU
4BGFUZFOTVSFE5IFSPPUBENJOJTUSBUPST QBTTXPSEDBOCFFODSZQUFEJOUISFF EJGGFSFOUXBZT
1MBZFSUPUIFGVMMWFSTJPOCZDMJDLJOHPOUIF NFOVA1MBZFS]6QHSBEFUP8PSLTUBUJPO /FYU ZPVNVTUDSFBUFB7.9mMFXJUIUIF IFMQPGBXJ[BSEBOE4V4&EJTUSP"GUFS UIBU PQFOUIFOFXMZDSFBUFEmMFXJUI 7.8BSF1MBZFS 'SFFTPMVUJPOUPDSFBUFZPVSPXO 7.9GJMF#ZVTJOHGSFFXBSFA7.9 8J[BSE IUUQSIZTHPPEXJOPSDPOOFU O[WNYXJ[BSE
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
>chiVaaVcYXdc[^\jgZA^cjm /PX TUBSUUPJOTUBMM-JOVYPOZPVSWJSUVBM 1$4JODFNPTUPGUIFQSPDFTTJTTJNJMBSUP BO91JOTUBMMBUJPO TFUUJOHUJNF[POF FUD
XFXJMMPOMZEJTDVTTJTTVFTTQFDJGJDUP-JOVY POMZ
IgdjWaZh]ddi^c\q;^m^c\i]ZXdbbdcegdWaZbh^cA^cjm $ISTRIBUTIONSæ OFæ NEWERæ ,INUXæ VERSIONSæ SUCHæASæ3U3%æCANæBEæEASILYæINSTALLEDæ4HEæ INSTALLATIONæ PROCESSæ SELDOMæ ENCOUNTERSæ PROBLEMSæ (OWEVER æ IFæ 3U3%æ DOESæ NOTæ FUNCTIONæONæYOURæ0# æTRYæTHEæFOLLOWINGæTIPS æ ,INUXæDOESNTæDETECTæYOURæ0#SæHARDWAREæ ANDæ PERIPHERALSæ &IRST æ CHECKæ ONæ HTTPæ CDBNOVELLCOMæTOæSEEæIFæYOURæHARDWAREæ ISæ SUPPORTEDæ BYæ 3U3%æ ,INUXæ )Fæ ITæ ISæ SUPPORTED æSEARCHæFORæAæ,INUXæDRIVERæFROMæ THEæ PRODUCTSæ MANUFACTURERæ )DEALLY æ THEæ HARDWAREæ SHOULDæ BEæ CERTIFIEDæ BASEDæ
4V4&)$-4JNJMJBSUP.JDSPTPGUT )BSEXBSF$PNQBUJCJMJUZ-JTU )$-
4V4& IBTJUTPXO)$-EBUBCBTFBTXFMM
ONæ THEæ @9ESæ #ERTIFIEDæ DATABASEæ ASæ RECOMMENDEDæ BYæ .OVELLæ %LSE æ SEARCHæ FORæ THEæ PERIPHERALSæ DRIVERæ ATæ WWW DRIVERGUIDECOMæ YOUæ NEEDæ TOæ REGISTERæ YOURSELF æ æ $IAL UPæDOESæNOTæW ORKæ4 HISæUSUALLYæOCCURSæ WHENæTHEæ0#æUSESæANæINTERNALæSOFTMODEMæ ORæ Aæ MODEMæ THATæ DOESæ NOTæ HAVEæ ,INUXæ DRIVERSæ3EARCHæFORæTHEæDRIVERæORæREPLACEæ ITæ WITHæ Aæ NEWERæ MODEMæ WHICHæ HASæ Aææ ,INUXæDRIVER æ 0ROBLEMSæ WITHæ GRAPHICSæ )Fæ YOUæ USEæ Aæ NON STANDARDæ GRAPHICSæ CARD æ PROBLEMSæ COULDæ ARISEæ AFTERæ INSTALLINGæ ,INUXæ )Fæ THEæ GRAPHICSæ CARDæ ISæ NOTæ DETECTED æ YOUæ WILLæ NOTæBEæABLEæTOæRUNæTHEæ'5)æ4OæFIXæTHIS æRUNæ THEæVIRTUALæ0#æANDæHOLDæDOWNæTHEæ@3HIFTæ BUTTONæ WHENæ INSTALLATIONæ STARTSæ !FTERæ THAT æ YOUæ WILLæ SEEæ Aæ COMMANDæ MODULEæ LAUNCHEDSOMETHINGæ SIMILARæ TOæ $/3æ MODEæ 4YPEæ INæ @,INUXæ ANDæ FOLLOWæ THEæ WIZARDSæDIRECTIONS æ #ONTROLLERæ 3#3)æ GOESæ UNDETECTEDæ 3U3%æ ,INUXæSUPPORTSæMOSTæOFæTHEæGENERALæ!4!0)æ
DRIVESæ &ORæ 3#3) æ 3U3%æ ,INUXæ DEPENDSæ ONæ THEæ 3#3)æ #ONTROLLERæ FORæ SUPPORTæ 6ISITæ HTTPSUPPORTNOVELLCOMSEARCHKB? INDEXJSPSOURCEIDINTSUPLNAV?KBæ ANDæ CHECKæWHICHæCONTROLLERæYOUæAREæUSINGæ)FæITæ ISæSTILLæNOTæDETECTEDæEVENæWHENæYOURæHARDæ DISKæ ISæ CONNECTEDæ TOæ THEæ CONTROLLER æ THENæ ,INUXæCANNOTæBEæINSTALLEDæONæYOURæSYSTEM æ 00æ DOESæ NOTæ WORKæ 7HENæ THEæ æ PORTæ ISæ BLOCKEDæ BYæ Aæ FIREWALL æ +4ORRENTæ ORæOTHERæ00æTOOLSæFAILæTOæGETæCONNECTEDæ TOæ THEæ )NTERNETæ 2UNæ @9A34æ ANDæ CHOOSEæ @3ECURITYæ æ 5SERæ \æ &IREWALLæ \æ !LLOWEDæ 3ERVICESæ \æ !DVANCEDvæ .EXT æ OPENæ PORTæ æREQUIREDæFORæ+4ORRENTæTOæWORK æ 'ETTINGæ HELPæ ONæ Aæ SPECIFICæ MATTERæ !DVANCEDæ7INDOWSæUSERSæUSUALLYæUTILIZEæ THEæ@-ICROSOFTæ+NOWLEDGEæ"ASEæSERVICEæ FORæ FIXINGæ SPECIFICæ PROBLEMSæ 4HEæ SAMEæ SERVICEæ ISæ AVAILABLEæ FORæ 3U3%æ ,INUXæ ASæ WELLæ 9OUæ CANæ GETæ THISæ ATæ HTTPSUPPORT NOVELLCOMSEARCHKB?INDEXJSPæ 9OUæ CANæ ALSOæ CHECKæ OUTæ HTTPENOPENSUSE ORGæSDBSDB ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
\
$/5",% "!22%,å0#åå åå#/6%234/29
8]ddhZYZh`ideaVndji 5PPM4V4&-JOVYo4FUVQ"TTJTUBOU 4V4&-JOVYIBTUXPEJGGFSFOUFOWJSPONFOUT UPDIPPTFGSPN,%&BOE(/0.&*O PVSUFTU XFVTFEUIF,%&WBSJBOUXJUI 8JOEPXT 91-VOB FOWJSPONFOU*O XJ[BSE TFMFDUQSFGFSSFEFOWJSPONFOU MBZPVUBOECFHJOJOTUBMMBUJPO
NBZDIBOHFUIFDPOGJHVSBUJPONBOVBMMZ*G UIBUEPFTOUXPSL CFGPSFFOEJOHUIFXJ[BSE BDUJWBUFA0QFO:B45$POUSPM$FOUFS5IJT UPPMBMMPXTZPVUPQJDLTQFDJGJDESJWFSTGPS ZPVSIBSEXBSF *GUIJTTUJMMEPFTOUTPMWFUIFQSPCMFN FOEUIF-JOVYJOTUBMMBUJPO"GUFSUIBU USZ MPPLJOHGPSUIF-JOVYESJWFSPGUIBUQBSUJDVMBS IBSEXBSFPOUIF*OUFSOFU
8gZVi^c\gddiVcYjhZgVXXdjcih 5PPM4V4&-JOVYo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
=VgYlVgZXdc[^\jgVi^dc 5PPM4V4&-JOVY4FUVQ :B45 5PXBSETUIFFOE 4FUVQ8J[BSEXJMMEFUFDU IBSEXBSFEFUFDUJPO8IFOTFBSDIJOHGPS UIFHSBQIJDTDBSE UIF7.8BSF1MBZFS XJOEPXXJMMTUBSUCMJOLJOH#VUUIJTJTOP SFBTPOUPXPSSZ"UUIFFOE UIFSFXJMMCF BEJBMPHCPYXIJDIMJTUTBMMUIFIBSEXBSF EFUFDUFECZ-JOVY *GBTQFDJGJDIBSEXBSFJTOPUDPSSFDUMZ DPOGJHVSFE DMJDLPOA$IBOHFBOEDIPPTF UIBUQBSUJDVMBSIBSEXBSF5ISPVHIA"EE ZPV ./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
5SPVCMFTIPPU*GZPVSIBSEXBSFEPFTOU HFUEFUFDUFE ZPVXJMMBVUPNBUJDBMMZCF GPSXBSEFEUPUIJTEJBMPHCPY
>cigdYjX^c\i]ZXdcigdaeVcZa 5PPM:B45 5IF:B45DPOUSPMQBOFMJTOPUNVDIEJGGFSFOU GSPN91T$POUSPM1BOFM#PUIDBOCFVTFE UPSFNPWFVOXBOUFEQSPHSBNT"TIPSUDVU UP:B45DBOCFDSFBUFECZSJHIUDMJDLJOH POUIF,%&EFTLUPQBOEDIPPTJOHA3VO DPNNBOE*OUIFQPQVQEJBMPHCPY LFZJO UIFDPNNBOE \DVW BOEDMJDLPOUIFJOQVUCVUUPO:PVTIPVME OPUJDFUIBUUIJTDPNNBOEJTTJNJMBSUPi4UBSU ]3VOwPO8JOEPXT0OMZUIFBENJOJTUSBUPS JTBMMPXFEUPVTF:B45TPZPVXJMMCF QSPNQUFEUPLFZJOZPVSSPPUQBTTXPSE
$POUSPM$FOUFS:B45$POUSPM$FOUFSJO 4V4&XPSLTKVTUMJLF8JOEPXT$POUSPM 1BOFM
0QUJNJ[JOH-JOVY4FMFDUBOZQSPHSBN ZPVXPVMEMJLFUPTFOEUPUIFEVNQTUFS
/FUXPSLDPOGJHVSBUJPO$IPPTF A.JDSPTPGU8JOEPXTOFUXPSLESJWFUP BDDFTT8JOEPXTOFUXPSLGPMEFST
\
å#/6%234/29åå åå$/5",% "!22%,å0#
BSFBMSFBEZJOTUBMMFEPOZPVS1$4DSPMM EPXOXBSETUJMMZPVUFBDIUIFA4VQFS5VY FOUSZ3JHIUDMJDLBOEDIPPTFA%FMFUF5IJT FOUSZJTTIPXOXJUIBA3FDZDMFCJOJDPO#Z DMJDLJOHPOA"DDFQU UIFHBNFXJMMCFEFMFUFE
Fj^X`WddiNdjgk^gijVaE8 'PMEFSBMMPDBUJPO6OEFSUIFA4IBSFTUBC POA4BNCB4FSWFS DIPPTFUIFGPMEFSGPS TIBSJOH
3FDFJWJOHNBJM$IPPTFUIFA*."1 QSPUPDPMJO5IVOEFSCJSE
5PPM7.8BSF1MBZFS 7JSUVBM1$TDBOCPPUVQRVJDLFSUIBO OPSNBM1$TCFDBVTFOPUBMMIBSEXBSFOFFE UPCFJOJUJBMJ[FEPOTUBSUVQ %PVCMFDMJDLUPTUBSU:PVEPOUIBWFUP TUBSU7.8BSF1MBZFSUPCPPU-JOVYVQ+VTU EPVCMFDMJDLPOUIFA4V4&-JOVYWNYGJMF DSFBUFEJO4UFQ 3FTFUUJOH-JOVY6TFSTPGUIFPMEFSWFSTJPO PG8JOEPXTDBOSFTUBSUUIFJS1$RVJDLMZ CZIPMEJOHEPXOUIFA4IJGULFZUPCZQBTT #*04DIFDL7.8BSF1MBZFSPGGFSTUIF TBNFGFBUVSF#SJOHVQUIF-JOVYTIVUEPXO TDSFFOA$USM "MUBOESFTUBSU-JOVY RVJDLMZCZDMJDLJOHPOUIFNFOVA1MBZFS] 5SPVCMFTIPPU]3FTFU
8dbW^c^c\L^cYdlhVcYA^cjm /PXZPVNBZVTFCPUIPQFSBUJOH
TZTUFNTJOQBSBMMFMXJUIPVUTVGGFSJOH GSPNMPTTPGTQFFE8JUIUIFIFMQPG OFUXPSLJOHGVODUJPOT CPUITZTUFNT NBZFWFODPNNVOJDBUFXJUIFBDIPUIFS #ZUXFBLJOHTPNFPQFSBUJPOTFUUJOHT UIFMJOFTFQBSBUJOH8JOEPXTBOE-JOVY CFDPNFTCMVSSFE
CZildg`Xdc[^\jgVi^dc 5PPM4IFMM :B45 #FDBVTF7.8BSFTJNVMBUFTBTUBOEBMPOF 1$XIJDIJODMVEFTIBSEXBSFBOEJUTPXO *1BEESFTT ZPVXJMMOPUCFBCMFUPBDDFTT B8JOEPXTESJWFEJSFDUMZGSPN-JOVY $PNNVOJDBUJPOCFUXFFOCPUIUIFTF PQFSBUJOHTZTUFNTDBOPOMZCFEPOFUISPVHI UIFVTFPGBWJSUVBMPSBDUVBMOFUXPSL 8IFOJOTUBMMJOHZPVSWJSUVBM1$ ZPV TIPVMEDIPPTFBA#SJEHFEDPOOFDUJPO XIJDIFOBCMFTTFUUJOHVQBCBTFOFUXPSL )PXFWFS KVTUUPCFTBGF ZPVTIPVMESVO BQJOHPOCPUI1$TUPNBLFTVSFUIFZBSF DPSSFDUMZDPOOFDUFE 8JOEPXT91$MJDLPOA4UBSU]3VOBOE UZQFJOUIFDPNNBOE DNE
qGjcc^c\L^cYdlhegd\gVbhdcVA^cjmhnhiZb 4EARæDOWNæTHEælNALæWALLæBETWEENæ7INDOWSæ ANDæ,INUXæ4HISæCANæBEæDONEæWITHæONEæSIMPLEæ TOOLæ7ITHæTHISæTOOL æ7INDOWSæCANæNOWæBEæ RUNæONæ,INUXæSYSTEMS æ #ORRECTæ ENVIRONMENTæ 4HEæ +$%æ DESKTOPæ HASæ Aæ SIMILARæ LAYOUTæ TOæ THATæ OFæ 7INDOWSæ 80æ ORæ 7INDOWSæ Xæ $OWNLOADæ THEæ FILEæ @KDE?XP?FULL TARGZæ FROMæ WWW AIPCNETITCHIARASPELEOALEXSPELEOALEX HTMæANDæEXTRACTæITæONTOæYOURæ,INUXæDESKTOPæ 4OæDOæTHAT æRIGHTæCLICKæANDæCHOOSEæ@%XTRACTæ\æ %XTRACTæTO æANDæSELECTæFOLDERæLOCATION æ æ 4HENæ CLICKæ ONæ THEæ 3U3%æ ,INUXæ ICONæ LOCATEDæATæTHEæBOTTOMæLEFTæANDæRUNæ+$%Sæ #ONTROLæ #ENTERæ 5NDERæ @!PPEARANCEæ æ 4HEMESæ\æ4HEMEæ-ANAGERæCHOOSEæ@KDE? XPæANDæUNDERæ@#OLORS æCHOOSEæ@2EDMONDæ 80æ)FæYOUæPREFERæAæCLASSICæLAYOUT æCHOOSEæ @-3æ 7INDOWSæ Xæ UNDERæ @3TYLEæ /NLYæ 80æ ICONSæAREæUNAVAILABLEæBECAUSEæINTEGRATEDæ ICONSæONLYæWORKæWITHæOLDERæ+$%æVERSIONSæ UPæTOæ æ 7INDOWSæPROGRAMSæONæ,INUXæ4HEæ@7INEæ TOOLæSIMULATESæ7INDOWSæ!0)æONæ,INUXæSOæ THATæ7INDOWSæPROGRAMSæMAYæRUNæONæ+$%æ ENVIRONMENTæ )Næ 9A34 æ CHOOSEæ @3OFTWAREæ
æ æ
\æ 3OFTWAREæ -ANAGEMENTæ )NSERTæ @7INEæ INTOæTHEæSEARCHæCOLUMNæ)Fæ9A34æFINDSæTHEæ TOOL æSELECTæITæFORæINSTALLATION 4OæINSTALLæAæ7INDOWSæPROGRAMæONTOæ"ASHæ SHELL æTYPE XJOFOBNF @ GJMFFYF
.OWæYOUæCANæSTARTæTHEæ7INDOWSæAPPLICATIONæ BYæTYPINGæ XJOFOBNF @ QSPHSBNFYF 2EMEMBER æRUNNINGæLESSæSAFEæPROGRAMSæ LIKEæ@-3æ/UTLOOKæCOULDæEXPOSEæYOURæ,INUXæ PARTITIONæTOæTHEæRISKSæOFæVIRUSæINFECTIONS
-JOVYBMB8JOEPXT*OUIF,%&5IFNF.BOBHFS$POUSPM$FOUFS ZPVDBODIPPTFB ,%&TUZMFPSMBZPVUTJNJMJBSUP8JOEPXT 3FENPOE
).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2ææ
\
$/5",% "!22%,å0#åå åå#/6%234/29
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mHVSBUJPOGPSUIF1$T &UIFSOFUDBSEJO:B45*ONPTUDBTFT 8JOEPXT1$TIPVMECFBCMFUPSFQMZUPUIBU QJOHDPNNBOE #BDLUP8JOEPXT4XJUDIPWFSUP8JOEPXT 91EFTLUPQBOELFZJOUIFTBNFDPNNBOE BTCFGPSFXJUI-JOVY1$T*1BEESFTT*G UIFSFJTBTVDDFTTGVMSFTQPOTF JUNFBOT UIBUBDPOOFDUJPODBOCFFTUBCMJTIFEGPS USBOTGFSPGEBUB -JOVY*O8JOEPXT ZPVTIPVMELOPXUIBU FBDIBOEFWFSZDPNQVUFSPOUIFOFUXPSL JTVOJRVFMZOBNFETPFBDIDBOCFFBTJMZ JEFOUJm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
H]Vg^c\[daYZghdkZgi]ZcZildg` 5PPM4BNCB4FSWFS "GUFS8JOEPXT1$BOE8JOEPXT-JOVYBSF ./6%-"%2æææ\ææ).4%,,)'%.4æ#/-054).'æ#()0
POUIFOFUXPSL DSFBUFBGPMEFSXIJDIDBO CFBDDFTTFEGSPNCPUIUIFTFPQFSBUJOH TZTUFNT5PDPOm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
DMJDLPOA/FUXPSL#SPXTFSPOUIF,%& TDSFFOBOEDIPPTFA"EE/FUXPSL'PMEFS 1SPWJEFBOBNFMJLFA8JOEPXT1$BOE LFZJOUIF8JOEPXT911$OBNF"GUFS DMJDLJOHPOA4BWFBOE$POOFDU ZPVTIPVME IBWFBDDFTTUP8JOEPXT1$GSPN-JOVY
Jh^c\Z"bV^ahZgk^XZhid\Zi]Zg 5PPM5IVOEFSCJSE 8BOUUPBDDFTTFNBJMGSPNCPUI 8JOEPXTBOE-JOVY %PUIJTCZVTJOH *."1 BMSFBEZXJEFMZTVQQPSUFECZNBOZ PGUIFQPQVMBS*41T4FSWJDFTXJUI*."1 TBWFFNBJMTPOUIFTFSWFSBOEBMMPXZPV UPNBOJQVMBUFBOZNFTTBHFTTUPSFEPO UIFTFSWFSXJUIPVUIBWJOHUPBDUVBMMZ SFUSJFWFUIFNFTTBHFT0O8JOEPXT SVO UIFNBJMDMJFOUUIBUZPVVTVBMMZVTF0O -JOVY ZPVDBOVTF5IVOEFSCJSE*OTUBMM UIFNBJMDMJFOUXJUI:B45UISPVHIUIF A4PGUXBSF]4PGUXBSF.BOBHFNFOU NFOV*OUIFEJBMPHCPY TFMFDUA*."1BOE CFMPXUIBU LFZJOUIFTFSWFSOBNFPGZPVS NBJMQSPWJEFS"GUFSUIBU 5IVOEFSCJSEXJMM FYUSBDUFNBJMGPSZPVJOUPZPVS1$
Jh^c\A^cjm7Vh]h]Zaal^i]L^cYdlhME 5PPM1V55: *GZPVQMBOUPJOEVMHFBMJUUMFNPSFJOUP -JOVY ZPVXJMMIBWFUPGBNJMJBSJ[FZPVSTFMG XJUI-JOVYDPNNBOET8JUIBTJNQMF USJDL ZPVDBOBDUVBMMZPQFSBUF#BTITIFMM -JOVYQSPNQU PO8JOEPXT5IFNFUIPE
HjbbVgnqA^cjm`cdl"]dl L^cA^cjmiddah .EARLYæALLæTHEæTOOLSæNEEDEDæTOæCOMBINEæ 7INDOWSæANDæ,INUXæCANæBEæFOUNDæONæTHISæ MONTHSæ#()0æ4OOLSæ#$æEXCEPTæ3U3%æ ,INUXææDISTRO
>hA^cjmhV[Z4 ,INUXæWASæCONSIDEREDæAæVERYæSAFEæ OPERATINGæSYSTEMæTOæUSEæUNTILæ3EPTEMBERæ æWHENæTHEæ@3LAPPERæWORMæINFECTEDæ THOUSANDSæOFæ,INUXæ0#Sæ$ESPITEæTHISæONEæ INSTANCE æ,INUXæISæPRESUMEDæTOæBEæAæSAFERæ SYSTEMæINæCOMPARISONæTOæ7INDOWSæ(EREæ AREæTHEæREASONSæ æ 0ROTECTIONæFROMæPASSWORDæSPIESæ æ )Fæ YOUæ FAILæ TOæ LOGæ IN æ ,INUXæ WILLæ WAITæ Aæ COUPLEæ OFæ SECONDSæ BEFOREæ ALLOWINGæ YOUæ TOæ TRYæ AGAINæ 4HISæ ISæ TOæ CONFUSEæ PASSWORD SPYINGæTOOLS æ 3TRICTæUSERæMANAGEMENT æ .ORMALæUSERSæONLYæHAVEæRIGHTSæTOæWRITEææ DATAæ INTOæ THEIRæ OWNæ @HOMEæ DIRECTORYæ 4HISæ WAY æ EVENæ IFæ FILESæ INæ Aæ PARTICULARæ USERSæ FOLDERæ AREæ DAMAGED æ THEæ OPERATINGæSYSTEMæWILLæNOTæBEæAFFECTED æ 3TRONGæOPENæSOURCEæCOMMUNITY æ 9OUæ NOæ LONGERæ HAVEæ TOæ WAITæ WEEKSæ ANDæ WEEKSæ FORæ @0ATCHDAYæ TOæ COMEæ 5SERSæ WHOæ AREæ EXPERTSæ INæ PROGRAMMINGæ CANæ DETECTæSECURITYæHOLESæWITHINæMINUTESæANDæ PROVIDEæAæPATCHæTOæSOLVEæTHEæPROBLEMæ æ 33(æ3ECUREæ3HELL æ 3ECUREæ 3HELLæ ISæ Aæ SPECIALæ NETWORKæ PROTOCOLæ THATæ ALLOWSæ ENCRYPTEDæ DATAæ TRANSFERæ OVERæ THEæ NETWORKæ 4HISæ PREVENTSæATTACKS JTUPVTFUIFGSFFXBSF1V55:XIJDIZPV DBOEPXOMPBEGSPNXXXQVUUZOM *O1V55: FOUFSUIFOBNFPS*1BEESFTT PGUIF-JOVY1$VOEFSUIFA)PTU/BNF TFDUJPO#ZDMJDLJOHPOA0QFO 1V55:XJMM FTUBCMJTIBDPOOFDUJPO&OUFSUIFVTFS OBNFBOEQBTTXPSEGPS-JOVY/PX ZPV TIPVMEIBWFEJSFDUBDDFTTUP#BTITIFMM /FYU VOEFSA4BWFE4FTTJPO FOUFSB OBNFGPSUIBUDPOOFDUJPOBOETBWFJU #ZEPVCMFDMJDLJOHPOUIBUGJMF ZPVXJMM BDUJWBUF#BTITIFMMPO8JOEPXT8JUIUIJT MBTUTUFQ 8JOEPXTBOE-JOVYIBWFUSVMZ CFFOBTTJNJMBUFEBTPOF ]-PI,FO8FJ
?V\Y^h]A^bWVX]^nV
Ide
=VgYlVgZ
"
IFBWZXBMMFUDBOGFUDIZPVUIFCFTU #VUBUUIFFOEPGUIFEBZJUTWBMVF GPSNPOFZUIBUNBUUFSTNPTU*OUIJT NPOUITBTTPSUNFOUPGIBSEXBSFBOE HBEHFUT UIFSFTTPNFUIJOHUPTVJUFWFSZ LJOEPGCVEHFU)BSEDPSFHBNFSTDBODIFDL PVUUIFNPOTUSPVTEPVCMFEFDLFS9'9 (F'PSDF(9HSBQIJDTDBSEGFBUVSJOH TIBEFSVOJUTBOE.#PG(%%3 NFNPSZGPSBTUFSPJEBMHBNJOHFYQFSJFODF 3FBEZUPHFURVBE4-*FE 5ISPXUXPT JOUPZPVSSJHBOEJUMMUVSOJOUPBNFBO NBDIJOFQPXFSFECZ(16T 4JYIBSEESJWFT UXPPQUJDBMESJWFTBOE
BO4-*TFUVQXPVMEDBVTFIJDDVQTUPUIF BWFSBHFQPXFSTVQQMZVOJU#VUJUTBCSFF[F GPSUIF$PPMFS.BTUFSJ(SFFO8QPXFS TVQQMZ&OUIVTJBTUT EPOUNJTTPVUPOUIJT QPXFSIPVTF .BJOTUSFBNVTFSTXJMMCFHMBEUPTFF PVSBSSBZPGWBMVFGPSNPOFZQSPEVDUTUIF "DFS"- UIF.4*,//FP UIF&QTPO 4UZMVT$9 UIF-FYNBSL&BOE UIF$PPMFS.BTUFS4VTVSSPXJMMTVJUNPTU CVZFSTQFSGFDUMZ "MTP UIF#MVFT.'1$DBTFJTBTUFBM GPSBOZPOFXIPXBOUTUPCVJMEB1$XJUIB TUSJDUCVEHFUJONJOE
qI]ZGVi^c\h:meaV^cZY /
iÊ «À`ÕVÌÃÊ Ê Ì
iÊ `Û`Õ>Ê >`Ê V«>ÀÃÊ ÌiÃÌÃÊ Ã
>ÀiÊ iÝ>VÌÞÊ Ì
iÊ Ã>iÊ ÌiÃÌÊ«ÀVi`ÕÀiðÊ
>V
Ê «À`ÕVÌÊ Ê /«Ê i>ÀÊ ÃÊ À>Ìi`Ê Ê >Ê ÃV>iÊ vÊ xÊ vÀÊ `vviÀiÌÊ iÞÊ «>À>iÌiÀÃ\Ê *iÀvÀ>Vi]Ê Õ`Ê +Õ>ÌÞ]Ê i>ÌÕÀiÃ]Ê
À}VÃÊ >`Ê 7>ÀÀ>ÌÞ°Ê /
iÃiÊ Û>ÀÞÊ >VVÀ`}Ê ÌÊ Ì
iÊ V
>À>VÌiÀÃÌVÃÊ vÊ Ì
iÊ
>À`Ü>Ài°Ê ÀÊ ÃÌ>Vi]Ê iÀ}VÃÊ i>ÃiÊ vÊ ÕÃi®Ê ÃÊ ÌÊ «ÀÌ>ÌÊ Ê >Ê }À>«
VÃÊ V>À`Ê>`ÊÌ
iÀivÀi]ÊÌÊÜÊÌÊLiÊiÛ>Õ>Ìi`Ê vÀÊÌ
Ã°Ê Ê «À`ÕV̽ÃÊ "ÛiÀ>Ê ,>Ì}Ê ÃÊ V>VÕ>Ìi`Ê LÞÊ>ÃÃ}}ÊÜi}
Ì>}iÃÊÌÊi>V
ÊiÛ>Õ>ÌÊ
«>À>iÌiÀpÌ
iÊÀiÊ«ÀÌ>ÌÊ>Ê«>À>iÌiÀ]Ê Ì
iÊ
}
iÀÊÃÊÌ
iÊÜi}
Ì>}iÊ>ÌÌi`ÊÌÊÌ°Ê Ê >``Ì]Ê Ì
iÀiÊ ÃÊ >Ê 6>ÕiÊ vÀÊ iÞÊ À>Ì}]Ê Ü
V
Ê ÃÊ V>VÕ>Ìi`Ê vÀÊ Ì
iÊ «iÀvÀ>ViÊ>`ÊÌ
iÊvi>ÌÕÀiÃÊvÊÌ
iÊ«À`ÕVÌÊ Ê Ài>ÌÊ ÌÊ Ì
iÊ «ÀVi°Ê }
Ê «iÀvÀ>ViÊ >`ÊÌÃÊvÊvi>ÌÕÀiÃÊ>ÌÊ>ÊÜÊ«ÀViÊÌÀ>Ã>ÌiÃÊ ÌÊ >Ê LiÌÌiÀÊ 6>ÕiÊ vÀÊ iÞÊ À>Ì}°Ê /
ÃÊ À>Ì}ÊÃÊV>VÕ>Ìi`ÊÕÃ}ÊVÕÀÀiÌÊ«ÀVið Ìi\Ê /
iÊ «ÀViÃÊ iÌi`Ê
iÀiÊ `Ê ÌÊ VÕ`iÊ Ì>ÝiÃ°Ê iVi]Ê Ì
iÞÊ ÜÊ Û>ÀÞÊ >VVÀ`}Ê ÌÊ Ì
iÊ Ì>ÝiÃÊ >««V>LiÊ Ê Ì
iÊ VÌÞÊ ÀÊ ÃÌ>ÌiÊ Ü
iÀiÊ ÞÕÊ LÕÞÊ Ì
iÊ «À`ÕVÌÊvÀ° ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
\
4%34%$ (!2$7!2%
CdiZWdd`
6hjh8dgZ9jd HeZX^[^XVi^dch/9^bZch^dchLm=m9bb/ ()(m(,m'-%!LZ^\]i/'#,@\!9^heaVn/&*"^cX]M<6! EgdXZhhdg/>ciZa8dgZ9jdI'(%%++<=o!G6B/ '<7!++,B=o99G'!HidgV\Z/&'%<7!9K9" Lg^iZg!>ciZg[VXZh/K<6"dji![aVh]bZbdgnXVgY gZVYZg!H"k^YZddji!E8B8>6":megZhh!JH7'#%! 8dccZXi^k^in/:i]ZgcZi!BdYZb!L^";^!7ajZiddi]
Fh_Y[ 9edjWYj F^ed[ ;#cW_b M[Xi_j[ MWhhWdjo
Gh+.!(.% 6hjhIZ`8dbejiZg>cX %''")%%*---bZY^V"^cY^V5Vhjh#Xdb ^c#Vhjh#Xdb 'nZVgh
G6I>C
8k_bZgkWb_jo
;h]edec_Yi
F[h\ehcWdY[
<[Wjkh[i
El[hWbbHWj_d]
LWbk[\ehced[o
HZXjg^in[^ghi
"
TVTIBTBOJNQSFTTJWFSBOHFPG OPUFCPPLTPOPGGFS5IFZBSF EJGGFSFOUJBUFEBDDPSEJOHUPUIFQPSUBCJMJUZ FOUFSUBJONFOUPSCVTJOFTTOFFETPG DPOTVNFST5IF'TFSJFTDPNFTVOEFSUIF CVTJOFTTDMBTTSBOHFPGOPUFCPPLT5IF'' JTQSPKFDUFEBTBQSPEVDUGPSUIPTFXIP XBOUUPNBLFTVSFUIFJSEBUBJTTFDVSFBOE UIFOPUFCPPLTCJPNFUSJDmOHFSQSJOUSFBEFS JTUFTUBNFOUUPUIJTGBDU"QBSUGSPNUIJT POFTQFDJBMBTQFDU MFUVTUBLFBMPPLBU XIBUPUIFSGFBUVSFTUIF"TVT''OPUFCPPL IBTUPPGGFS
UIFBCHTUBOEBSET5IJTJTBQBSU GSPNUIF&UIFSOFUBOEQIPOFDPOOFDUJWJUZ PQUJPOTPOUIFOPUFCPPL8JUI#MVFUPPUI VTFSTDBOTZODISPOJ[FJOGPSNBUJPOXJUIB DPNQBUJCMFIBOEIFMEPSQIPOF".1 DBNFSBXJUIBUJOZNJDSPQIPOFJTCVJMUJOUP UIF-$%GSBNFGPSXFCDPOGFSFODJOH#VU UIFZBSFQMBDFEJOUPUIFGSBNFBOEDBOOPU CFTXJWFMFE5IFmOHFSQSJOUSFBEFSJT QSPWJEFEKVTUBCPWFUIFLFZCPBSE3PVOEJOH PGGUIFQBDLBHFJTBNFEJBDBSESFBEFSUIBU TVQQPSUT4%..$nBTINFNPSZ
7j^aYfjVa^inVcYZg\dcdb^Xh ;ZVijgZh 5IF"TVT''JTBO*OUFM$PSF%VPCBTFE OPUFCPPLmUUFEXJUIBXIPQQJOH(# %%33".5IFOPUFCPPLQMBUGPSNJTCBTFE PO*OUFMT(.DIJQTFU XIJDINFBOTUIF HSBQIJDTTVCTZTUFNJTJOUFHSBUFEJOUPUIF EFWJDFTNPUIFSCPBSE5IFEJTQMBZDPNFTJO UIFGPSNPGBBTQFDUSBUJP JODIHMPTTZ TDSFFO*UGFBUVSFTBNQMFTUPSBHFTQBDFoB (#'VKJUTV4"5"IBSEESJWF%7%XSJUFST IBWFCFDPNFBTUBOEBSEGFBUVSFJOCVTJOFTT OPUFCPPLTBOEUIJTPOFVTFTB4BNTVOH NFEJBXSJUFS"DPSQPSBUFJTBMXBZTPOUIF NPWFBDDFTTUPUIF*OUFSOFUPSUPBMPDBM OFUXPSLJTNBOEBUPSZ4JODFUIFOPUFCPPL JTDFOUSFEBSPVOEUIF$FOUSJOPQMBUGPSN 8J'JGVODUJPOBMJUZJTCVJMUJO TVQQPSUJOH
"TVTOPUFCPPLTBSFTPMJEBOEDPNGPSUBCMF 5IF''JTOPFYDFQUJPOUPUIJT5IF-$% GSBNFJTUPVHIBOEUIFEVPUPOFQMBTUJD CPEZMFOETJUBTUVSEZGFFM5IFLFZQBEJT SFTQPOTJWFBOEJTOUDSBNQFE)PXFWFS UIF <&OUFS>LFZJTTNBMMUISFFLFZTMJFBXBZGSPN <-> TPZPVXJMMIBWFUPTUSFUDIZPVSmOHFSUP SFBDIJU5IFUPVDIQBE OPUDFOUSBMJ[FEXJUI UIFLFZQBE JTMBSHFXJUIBGBJSMZTFOTJUJWF SFTQPOTF5IFNPVTFCVUUPOTGFFMATPGU XIJMFDMJDLJOHBOESFRVJSFBOPUIFSUBQUP SFTQPOEBUUJNFT"MMUIFJOQVUPVUQVUQPSUT BSFBSSBOHFEJOUFMMJHFOUMZCVUUIFZBSFOU MBCFMFEBMPOHUIFFEHFTPGUIFLFZCPBSE
EZg[dgbVcXZ 8FUFTUFEUIFOPUFCPPLXJUITZOUIFUJD
CFODINBSLTBOESFBMXPSMEUFTUT'PMMPXJOH BSFUIFNBJOSFTVMUTPGUIFTFUFTUT
Hnci]Zi^XiZhih/ 1$.BSL 1SPDFTTPS %ISZTUPOF.*14 8IFUTUPOF.'-014 .FNPSZ.#T )BSE%SJWF %SJWF*OEFY.#T 3BOEPN"DDFTTUJNFNT 3BOEPN3FBE8SJUF.#T .#T %.BSL
GZVa"ldgaYiZhih/ $PNQSFTTJPO "VEJP&ODPEJOH,#T 7JEFP&ODPEJOH,#T #BUUFSZ-JGF #BUUFSZ3BUJOHN"I #BUUFSZ-JGFNJOVUFT
KZgY^Xi 5IFOPUFCPPLJTGFBUVSFQBDLFEXJUIUIF MBUFTUIBSEXBSF 'PS(PPECBUUFSZMJGFBOETIBSQEJTQMBZ BNQMFTUPSBHFTQBDF "HBJOTU5PVDIQBECVUUPOTOPUWFSZ SFTQPOTJWF POFGVODUJPOCVUUPOJTVTFEUP FOBCMF8J'JBOE#MVFUPPUI
./6%-"%2æææÊ\ÊÊ / /Ê "*1/ Ê *
HBHjhHidgnXdYZ/=LHHZZEV\Z&-[dgYZiV^ah
\
(!2$7!2% 4%34%$
M;MciZg[VXZ/E8>":m&+!BVm^bjbGZhdaji^dc/ '*+%m&+%%
Fh_Y[ 9edjWYj F^ed[ ;#cW_b M[Xi_j[ MWhhWdjo
Gh(-!%%% GVh]^EZg^e]ZgVahEkiAiY %''"+,%.%.%. cVk^cYZgX5geiZX]^cY^V#Xdb lll#m[m[dgXZ#Xdb (nZVgh
G6I>C
8k_bZgkWb_jo
F[h\ehcWdY[
<[Wjkh[i
El[hWbbHWj_d]
LWbk[\ehced[o
I]ZedlZgd[ild
8
IJMFUIFDPODFQUPGNVMUJQMFHSBQIJDT QSPDFTTPSTXPSLJOHJOUBOEFNXJUI FBDIPUIFSJTOPUOFX /WJEJBIBTVTFE UIFDPODFQUXFMMUPSFUBJOUIFUPQTQPU JOQFSGPSNBODF0GDPVSTF ZPVDBOIBWF $SPTTmSFTFUVQTBTXFMMBT%VBMBOE2VBE 4-*TFUVQTGPSCFUUFSQFSGPSNBODF CVUXIFO JUDPNFTUPTJOHMF1$*&TMPUCBTFETFUVQT UIF(9PGGFSTFYDFMMFOUQFSGPSNBODF
;ZVijgZh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
IJHIFTUQPTTJCMFSFTPMVUJPOT5IFDPNCJOFE QPXFSPGUXPDBSETFGGFDUJWFMZQSPWJEFT UXP(16TBU.)[BOEBDPNCJOFE NFNPSZDMPDLTQFFEPG()[5IF QJYFMTIBEFSTFRVBMUIBUPGUIF"5*3BEFPO 9959 USBOTMBUJOHJOUPBTFSJPVT BNPVOUPGHBNJOHIPSTFQPXFS5IFDBSE JTDBQBCMFPGEJTQMBZJOHSFTPMVUJPOTPGVQUP YEQJBOEZPVDBOWJFXNPWJFT JOXJEFTDSFFONPEF5IFDBSEJTBMTP)% SFBEZBOEGFBUVSFT9)% F9USFNF)JHI %FmOJUJPO HBNJOHBMMPXJOHZPVUPQMBZ HBNFTCFUUFSUIBOXIBU)%57PGGFST5IJT GFBUVSFJTPGOPVTFDVSSFOUMZCVUXJMMDPNF JOIBOEZXIFOTVDIHBNFTEPFNFSHF*U BMTPGFBUVSFTIBSEXBSFCBTFEEFDPEJOHPG )%57BVEJPBOEWJEFP
9Zh^\c 5IF9'9(F'PSDF(9JTCBTJDBMMZUXP DBSETTUBDLFEPOUPQPGFBDIPUIFSXJUI BDPNNPO1$*&JOUFSGBDF5IFUXPDBSET DPNNVOJDBUFJOUFSOBMMZVTJOH/7*%*"T 4DBMBCMF-JOL*OUFSGBDFPS4-*TFUVQ5IJTDBSE NBLFTQSPWJTJPOGPS4-*QFSGPSNBODFVTJOH POMZBTJOHMF1$*&TMPU
EZg[dgbVcXZ 5IFmSTUBTQFDUPGUIFDBSEUIBUXFXFSF EJTBQQPJOUFEXJUIXBTUIBUXFDPVMEOPU SVO%00.BUBYSFTPMVUJPO
XJUIBMMEFUBJMTFOBCMFE*UQSPWJEFEBNFSF GQTXIFOFWFSZEFUBJMXBTTFUUPUIF IJHIFTU5IFSFJTBQMBDFGPS2VBE4-*TFUVQT BGUFSBMMTUFQQJOHEPXOUIF"" "OUJ "MJBTJOH UPYNBEFUIFHBNFKVTUBCPVU QMBZBCMFBUGQT"MUIPVHIXFNVTU BENJUUIBUBUTVDIIJHISFTPMVUJPOT UIF EJGGFSFODFCFUXFFOY""BOEY""JT IBSEMZOPUJDFBCMF'&"3QMBZFEnBXMFTTMZ BUBOBWFSBHFPGGQTXJUIUIFGSBNFSBUF EJTUSJCVUJPOCFJOHBUQFSDFOUCFMPXUIF GQTMFWFM2VBLFXBTBMTPMFTTUIFO GQTBUY""BOEPOMZQMBZBCMFBUY ""&MEFS4DSPMMTo0CMJWJPOXBTQMBZBCMF BUGQTJOUIFJOEPPSTDFOFTCVUGBJMFE NJTFSBCMZJOUIFPVUEPPSSFOEFST"MM UIFHBNFTDBOCFQMBZFEBUY SFTPMVUJPO CVUUIFTFHSBQIJDTDBSETBSFOPU BCMFUPSFOEFSFWFSZUIJOHUISPXOBUJU
KZgY^Xi 5IF9'9(F'PSDF(9SFUBJMTGPS3T XIJDIXFCFMJFWFJTPWFSQSJDFE*U JTPOMZSFDPNNFOEFEGPSIBSEDPSFHBNFST XIPXBOUUPFYUSBDUFWFSZCJUPGWJTVBM QMFBTVSFGSPNUIFHBNFTUIFZQMBZ BMCFJU BUBOPUDIMPXFSUIBOUIFIJHIFTUTFUUJOHT 'PS4-*TFUVQPOBTJOHMF1$*&TMPU )%57 SFBEZ "HBJOTU5IFDBSESVOTBUBEIPU IJHIPO QSJDF OPUGPSPWFSDMPDLFST ).4%,,)'%.4æ#/-054).'æ#()0ææ\ææ./6%-"%2æ
!Næ%XCLUSIVEææ9EARæ35"3#2)04)/.æ/&&%2 4ENURE
0AY
3UBSCRIBEæ æYEAR
2Sæ
/FFER
"ATTLEFIELDæ7ORTHæ2Sææ&REEæ
'ETæTHEæ,ATESTæ0#æ'AMEæ
"ATTLEFIELD¬¬IS¬A¬THRILLING¬ACTION¬GAME¬THAT¬IMMERSES¬YOU¬IN¬THE¬CHAOS¬OF¬COMBAT¬LIKE¬NEVER¬BEFORE
9ES ) WOULD LIKE TO SUBSCRIBE TO #()0 FOR
$ATE OF "IRTH
YEAR ISSUES
$ATE 3TUDENT
0AY 2S AND GET ,ATEST 0# 'AME "ATTLElELD 7ORTH 2S &2%%
0LEASE SEND THIS FORM IN THE ENVELOPE PROVIDED
#ARD %XPIRY $ATE
3IGNATURE 0ROFESSIONAL 3ELF EMPLOYED
/THER
&ILL