5fr61231b.fm5 Page 20 Friday, June 20, 2003 11:13 AM 02'('·(03/2, $9$17'·87,/,6(5/$7$%/('(&8,6621 &216(,/63285/$3527(&7,21'( /·(19,5211(0(17 35e&$87,216(7&216(,/6'·25'5( *e1e5$/ &216(,/63285e&2120,6(5/·e1(5*,( 1(772<$*((7(175(7,(1 ',$*1267,&'(63$11(6 6(59,&($35Ë69(17( ,167$//$7,21 5fr61231b.fm5 Page 21 Friday, June 20, 2003 11:13 AM $9$17'·87,/,6(5/$7$%/('(&8,6621 &HVLQVWUXFWLRQVQHYDOHQWTXHSRXUOHVSD\V PHQWLRQQpVDXGRVGHODQRWLFHG·XWLOLVDWLRQHWVXU O·DSSDUHLO 3RXUWLUHUOHPHLOOHXUSDUWLGHYRWUH DSSDUHLOOLVH]DWWHQWLYHPHQWODQRWLFH G·XWLOLVDWLRQHWFRQVHUYH]ODSRXUWRXWH FRQVXOWDWLRQIXWXUH /HVHPEDOODJHV VDFVSODVWLTXHpOpPHQWVHQ SRO\VW\UqQHHWF GRLYHQWrWUHWHQXVKRUVGHOD SRUWpHGHVHQIDQWVFDULOVUHSUpVHQWHQWXQ GDQJHUSRWHQWLHO 9pULILH]VLODWDEOHGHFXLVVRQDpWpHQGRPPDJpH SHQGDQWOHWUDQVSRUW 9HLOOH]jFHTXHO·LQVWDOODWLRQHWOHV EUDQFKHPHQWVDXV\VWqPHG·DUULYpHGXJD]j O·DOLPHQWDWLRQpOHFWULTXHVRLHQWUpDOLVpVSDU XQWHFKQLFLHQHQVXLYDQWOHVLQVWUXFWLRQVGX IDEULFDQWHWFRQIRUPpPHQWDX[ UpJOHPHQWDWLRQVORFDOHVHQPDWLqUHGH VpFXULWpHQYLJXHXUGDQVOHSD\VG·LQVWDOODWLRQ &216(,/63285/$3527(&7,21'( /·(19,5211(0(17 (PEDOODJH /·HPEDOODJHVHFRPSRVHGHPDWpULDX[HQWLqUHPHQW UHF\FODEOHVHWSRUWHOHV\PEROHGHUHF\FODJH TXLVLJQLILHTXHFHVPDWpULDX[GRLYHQWrWUHHQYR\p YHUVGHVFHQWUHVORFDX[G·pOLPLQDWLRQGHVGpFKHWV 3URGXLW /DWDEOHGHFXLVVRQHVWIDEULTXpHjSDUWLUGHPDWpULDX[ UHF\FODEOHV3RXUODPLVHDXUHEXWFRQIRUPH]YRXVDX[ UpJOHPHQWDWLRQVORFDOHVHQPDWLqUHG·pOLPLQDWLRQGHV GpFKHWV$YDQWODPLVHDXUHEXWGHO·DSSDUHLOFRXSH]OH FRUGRQG·DOLPHQWDWLRQDILQGHOHUHQGUHLQXWLOLVDEOH 35e&$87,216(7&216(,/6'·25'5( *e1e5$/ $YDQWWRXWHRSpUDWLRQGHQHWWR\DJHRX G·HQWUHWLHQGpEUDQFKH]ODWDEOHGHFXLVVRQ GHO·DOLPHQWDWLRQpOHFWULTXH /·XWLOLVDWLRQG·XQDSSDUHLOjJD]SURGXLWGHOD FKDOHXUHWGHO·KXPLGLWpjO·LQWpULHXUGHOD SLqFH$VVXUH]YRXVTXHODSLqFHHVWELHQ DpUpHRXLQVWDOOH]XQHKRWWHDVSLUDQWHDYHF JDLQHG·DVSLUDWLRQ 8QHXWLOLVDWLRQLQWHQVLYHHWSURORQJpHSHXW QpFHVVLWHUXQHDpUDWLRQVXSSOpPHQWDLUH RXYHUWXUHG·XQHIHQrWUHRXDXJPHQWDWLRQGH ODSXLVVDQFHG·DVSLUDWLRQGHODKRWWH 0DLQWHQH]OHVHQIDQWVjGLVWDQFHGHODWDEOH GHFXLVVRQORUVTXHFHOOHFLHVWHQVHUYLFHHW ORUVTX·HOOHYLHQWG·rWUHPLVHKRUVWHQVLRQ $SUqVXWLOLVDWLRQDVVXUH]YRXVTXHOHV ERXWRQVVRQWELHQHQSRVLWLRQ IHUPpH HW IHUPH]OHURELQHWSULQFLSDOG·DPHQpHGXJD] RXOHURELQHWGHODERXWHLOOHGHJD] $WWHQWLRQVLODWDEOHGHFXLVVRQHVWGRWpH G·XQFRXYHUFOHYHLOOHUjQHSDVOH VXUFKDXIIHUFDULOSRXUUDLWVHFDVVHU$YDQW GHIHUPHUO·DSSDUHLODVVXUH]YRXVTXHWRXV OHVEUOHXUVVRQWELHQpWHLQWV $WWHQWLRQ/HVSLHGVGHSURWHFWLRQHQ FDRXWFKRXFGHVJULOOHVSHXYHQWrWUHGDQJHUHX[ HQFDVG·LQJHVWLRQSDUOHVMHXQHVHQIDQWV $SUqVDYRLUQHWWR\pOHVJULOOHVDVVXUH]YRXV TXHWRXVOHVSLHGVHQFDRXWFKRXFVRQWIL[pV FRUUHFWHPHQW 'pFODUDWLRQGHFRQIRUPLWp &HWWHWDEOHGHFXLVVRQHVWFRQoXHIDEULTXpH HWPLVHVXUOHPDUFKpFRQIRUPpPHQWDX[ QRUPHVGHVpFXULWpGHOD'LUHFWLYH ´*D]µ&(( QRUPHVGHVpFXULWpGHOD'LUHFWLYH ´%DVVHWHQVLRQµ&(( QRUPHVGHSURWHFWLRQGHOD'LUHFWLYH ´&(0µ&(( QRUPHVGHOD'LUHFWLYH&(( &HWWHWDEOHGHFXLVVRQHVWSUpYXHSRXUOH FRQWDFWDYHFGHVGHQUpHVDOLPHQWDLUHVHWHVW IDEULTXpHFRQIRUPpPHQWjOD'LUHFWLYH &(( &HWWHWDEOHGHFXLVVRQ &ODVVH HVWFRQoXH H[FOXVLYHPHQWFRPPHDSSDUHLOGHFXLVVRQ 7RXWHDXWUHXWLOLVDWLRQ FRPPHDSSDUHLOGH FKDXIIDJHSDUH[HPSOH HVWFRQVLGpUpH FRPPHLPSURSUHHWGDQJHUHXVH 5fr61231b.fm5 Page 22 Friday, June 20, 2003 11:13 AM &216(,/63285e&2120,6(5/·e1(5*,( /DWDEOHGHFXLVVRQHVWpTXLSpHGHEUOHXUVHWRXG·XQHSODTXH FKDXIIDQWHGHGLIIpUHQWVGLDPqWUHV8WLOLVH]GHVUpFLSLHQWVGH GLDPqWUHpJDORXOpJqUHPHQWVXSpULHXUjFHOXLGHVEUOHXUVHW GHODSODTXHFKDXIIDQWH 8WLOLVH]XQLTXHPHQWGHVUpFLSLHQWVjIRQGSODW /HVUpFLSLHQWVQHGRLYHQWSDVGpSDVVHUVXUOHEDQGHDXGH FRPPDQGH %UOHXU 'LDPqWUHGXUpFLSLHQW 5DSLGH FP 6HPLUDSLGH FP $X[LOLDLUH FP 7ULSOHFRXURQQH FP 3RLVVRQQLqUH FP[FP jFP jFP jFP jFP jFP 'DQVODPHVXUHGXSRVVLEOHODLVVH]OHFRXYHUFOHVXUOHV UpFLSLHQWVSHQGDQWODFXLVVRQ &XLVH]GHVOpJXPHVOHVSRPPHVGHWHUUHHWFGDQVXQHSHWLWH TXDQWLWpG·HDXDILQGHUpGXLUHOHWHPSVGHFXLVVRQ 8QDXWRFXLVHXUYRXVSHUPHWWUDG·pFRQRPLVHUHQFRUHSOXV G·pQHUJLHHWGHWHPSV 121 5fr61231b.fm5 Page 23 Friday, June 20, 2003 11:13 AM 1(772<$*((7(175(7,(1 1HWWR\DJHGHODVXUIDFHGHODWDEOHGHFXLVVRQGHV JULOOHVHWGXEDQGHDXGHFRPPDQGH $YDQWGHQHWWR\HUODWDEOHGHFXLVVRQGpEUDQFKH] O·DSSDUHLOHWDWWHQGH]TX·LOVRLWIURLG 8WLOLVH]XQHpSRQJHLPELEpHG·HDXFKDXGHHWGHVDYRQRXGH GpWHUJHQWOLTXLGHSUpDODEOHPHQWGLOXp 1·XWLOLVH]HQDXFXQFDVGHSURGXLWVDEUDVLIVRXFRUURVLIVGH SURGXLWVFKORUpVRXGHWDPSRQVPpWDOOLTXHV 1·XWLOLVH]SDVG·DSSDUHLOVGHQHWWR\DJHjODYDSHXU 1·XWLOLVH]SDVGHSURGXLWVLQIODPPDEOHV (VVX\H]LPPpGLDWHPHQWOHVVXEVWDQFHVDFLGHVRXDOFDOLQHV WHOOHVTXHYLQDLJUHMXVGHFLWURQHWFTXLVHVRQWGpSRVpHVVXU ODWDEOHGHFXLVVRQ 6XUIDFHHQDFLHULQR[\GDEOH 1HWWR\H]jO·DLGHG·XQSURGXLWVSpFLDOSRXUDFLHULQR[\GDEOH 5HPDUTXHVLODWDEOHGHFXLVVRQHVWXWLOLVpH FRQWLQXHOOHPHQWOHVKDXWHVWHPSpUDWXUHVSURGXLWHVSDU OHVIODPPHVSHXYHQWDOWpUHUODFRXOHXUGHODVXUIDFH DXWRXUGHVEUOHXUV 1HWWR\DJHGHVEUOHXUV 6RXOHYH]HWHQOHYH]OHFKDSHDX 6RUWH]OHEUOHXUHQOHWLUDQWYHUVOHKDXW 3ORQJH]OHEUOHXUHWOHFKDSHDXGDQVXQHVROXWLRQG·HDX FKDXGHHWGHGpWHUJHQWOLTXLGH 1HODYH]SDVDXODYHYDLVVHOOH 5LQFH]HWVpFKH]VRLJQHXVHPHQW $VVXUH]YRXVTXHOHVRULILFHVGXEUOHXUQHVRQWSDVREVWUXpV 5HSODFH]OHEUOHXUHWOHFKDSHDX 5HPDUTXH$ILQGHQHSDVHQGRPPDJHUOHGLVSRVLWLI G·DOOXPDJHpOHFWULTXHDFWLRQQH]OHXQLTXHPHQWORUVTXH OHVEUOHXUVRQWpWpUHPLVHQSODFH 1HWWR\DJHGHVSODTXHVpOHFWULTXHV 1HWWR\H]ODSODTXHpOHFWULTXHORUVTX·HOOHHVWWLqGH (VVX\H]jO·DLGHG·XQFKLIIRQLPELEpG·HDXHWGHVHOHWDVWLTXH]j O·DLGHG·XQFKLIIRQJUDV 5fr61231b.fm5 Page 24 Friday, June 20, 2003 11:13 AM ',$*1267,&'(63$11(6 /HEUOHXUQHV·DOOXPHSDV /HURELQHWSULQFLSDOG·DUULYpHGXJD]HVWLORXYHUW" /DGLVWULEXWLRQGXJD]GHYLOOH PpWKDQH DWHOOH pWpVXVSHQGXH" /DERXWHLOOHGHJD] JD]OLTXLGH HVWHOOHYLGH" /HVRULILFHVGXEUOHXUVRQWLOVREVWUXpHV" /HFKDSHDXHWOHEUOHXURQWLOVFRUUHFWHPHQW UHPLVHQSODFHDSUqVOHQHWWR\DJH" 9RLUFKDSLWUH´1HWWR\DJHHWHQWUHWLHQµ /HEUOHXUV·pWHLQW 5pSpWH]O·DOOXPDJHHQSRVLWLRQQDQWOHERXWRQGH FRPPDQGHVXUOHV\PEROHUHSUpVHQWDQWODSHWLWH IODPPH /HGLVSRVLWLIG·DOOXPDJHpOHFWULTXHQH IRQFWLRQQHSDV /HFRXUDQWHVWLOFRXSp" 6(59,&($35Ë69(17( $YDQWGHFRQWDFWHUOH6HUYLFHDSUqVYHQWH FRQVXOWH]OH´'LDJQRVWLFGHVSDQQHVµFLGHVVXV SRXUYRLUVLYRXVSRXYH]YRXVPrPHUHPpGLHU jO·LQFRQYpQLHQW eWHLJQH]HWUDOOXPH]ODWDEOHGHFXLVVRQSRXU FRQWU{OHUVLOHSUREOqPHSHUVLVWH 6LOHSUREOqPHSHUVLVWHFRQWDFWH]OH6HUYLFH DSUqVYHQWH 9HXLOOH]VSpFLILHUOHVLQIRUPDWLRQVVXLYDQWHV OHW\SHGHGpIDXW OHPRGqOHGHODWDEOHGHFXLVVRQ OHFRGHVHUYLFH QXPpURVXLYDQWOHPRW 6(59,&(VXUODSODTXHVLJQDOpWLTXHDSSOLTXpH VRXVODWDEOHGHFXLVVRQHWGDQVOHOLYUHWGH JDUDQWLH YRWUHDGUHVVHFRPSOqWH YRWUHQXPpURGHWpOpSKRQHHWOHSUpIL[H 6LXQHUpSDUDWLRQHVWQpFHVVDLUHYHXLOOH]FRQWDFWHU XQ6HUYLFH$SUqVYHQWHDJUppFRPPHLQGLTXp GDQVODJDUDQWLH 6LO·LQWHUYHQWLRQRXODUpSDUDWLRQGHYDLWrWUH HIIHFWXpHSDUXQWHFKQLFLHQQRQDJUppH[LJH] TX·LOYRXVGpOLYUHXQHFHUWLILFDWLRQUHODWLYHDXWUDYDLO UpDOLVpHWTX·LOXWLOLVHGHVSLqFHVG·RULJLQH /HQRQUHVSHFWGHVLQVWUXFWLRQVpQRQFpHVFL GHVVXVSRXUUDLWFRPSURPHWWUHODVpFXULWpHW ODTXDOLWpGXSURGXLW 5fr61231b.fm5 Page 25 Friday, June 20, 2003 11:13 AM ,167$//$7,21 ,QIRUPDWLRQVWHFKQLTXHVSRXUO·LQVWDOODWHXU /DWDEOHGHFXLVVRQSHXWrWUHHQFDVWUpHGDQVXQSODQGH WUDYDLOGHjPPG·pSDLVVHXU6LYRXVQ·LQVWDOOH]SDV GHIRXUVRXVODWDEOHGHFXLVVRQ WRXWIRXULQVWDOOpGRLWrWUH IDEULTXpSDUQRXVHWpTXLSpG·XQV\VWqPHGH UHIURLGLVVHPHQW SODFH]XQSDQQHDXGHVpSDUDWLRQjXQH GLVWDQFHPLQLPXPGHPPGHODSDUWLHLQIpULHXUHGHOD WDEOHGHFXLVVRQ 5HPDUTXH$YDQWO·LQVWDOODWLRQDVVXUH]YRXVTXHOHV FRQGLWLRQVGHGLVWULEXWLRQORFDOH QDWXUHHWSUHVVLRQGXJD] VRQWFRPSDWLEOHVDYHFOHVUpJODJHVGHODWDEOHGHFXLVVRQ LQGLTXpVVXUODILFKHSURGXLWHWVXUODSODTXHVLJQDOpWLTXH 6LYRXVLQVWDOOH]XQPHXEOHYHUWLFDOYRXVGHYH]ODLVVHU XQHVSDFHG·DXPRLQVPPHQWUHFHOXLFLHWOHUHERUG GHODWDEOHGHFXLVVRQ $YDQWO·LQVWDOODWLRQUHWLUH]OHILOPSODVWLTXHSURWpJHDQW O·DSSDUHLO HQVDSUpVHQFH /HVVXUIDFHVH[WpULHXUHVGHVPHXEOHVRXDSSDUHLOVDGMDFHQWVj ODWDEOHGHFXLVVRQGRLYHQWUpVLVWHUjODFKDOHXU QLYHDXGH SURWHFWLRQWKHUPLTXH´<µ VHORQOHVQRUPHV /·LQVWDOODWLRQGRLWrWUHUpDOLVpHFRQIRUPpPHQWDX[ UpJOHPHQWDWLRQVORFDOHVHQYLJXHXUGDQVOHSD\VG·LQVWDOODWLRQ /DSLqFHRHVWLQVWDOOpHODWDEOHGHFXLVVRQGRLWFRQWHQLUXQH TXDQWLWpG·DLUVXIILVDQWHSRXUSHUPHWWUHXQHFRPEXVWLRQ FRUUHFWHGXJD] YRLUODILFKHSURGXLWVpSDUpH /HUHQRXYHOOHPHQWQDWXUHOGHO·DLUGRLWV·HIIHFWXHUjWUDYHUV XQHRXYHUWXUHDSSURSULpHTXLGRLWrWUH SHUPDQHQWHSUDWLTXpHGDQVO·XQGHVPXUVH[WpULHXUVGHOD SLqFHHWFRPPXQLTXDQWDYHFO·H[WpULHXUjO·DEULGHVRXUFHVGH SROOXWLRQ FRQoXHGHWHOOHVRUWHTXHVHVRXYHUWXUHVWDQWjO·LQWpULHXU TX·jO·H[WpULHXUQHSXLVVHQWSDVrWUHREVWUXpH LQWHQWLRQQHOOHPHQWRXDFFLGHQWHOOHPHQW SURWpJpHSDUXQHJULOOHRXXQJULOODJHPpWDOOLTXHQHUpGXLVDQW SDVVDVXUIDFH SUqVGXVROHWSODFpHGHPDQLqUHjQHSDVHQWUDYHUOH IRQFWLRQQHPHQWGXGLVSRVLWLIG·pYDFXDWLRQGHVIXPpHV /HVIXPpHVGRLYHQWrWUHpYDFXpHVSDUXQHKRWWHDVSLUDQWHRX XQYHQWLODWHXULQVWDOOpVXUOHPXURXVXUXQHIHQrWUH 0RQWDJH $SUqVDYRLUQHWWR\pODVXUIDFHGHODWDEOHGHFXLVVRQ DSSOLTXH]OHMRLQWIRXUQL VDXIV·LODGpMjpWpPLVHQ SODFH FRPPHLOOXVWUpVXUODILJXUH 3RXUIL[HUODWDEOHGHFXLVVRQXWLOLVH]OHVDWWDFKHV $ IRXUQLHV ,QWURGXLVH]OHVDWWDFKHVGDQVOHVRULILFHVSUpYXVjFHWHIIHWHW IL[H]OHVjO·DLGHGHVYLV 'pFRXSH]XQHRXYHUWXUHGDQVOHSODQGHWUDYDLOHQUHVSHFWDQW OHVGLPHQVLRQVVSpFLILpHVGDQVODILFKHSURGXLWVpSDUpH ,QVWDOOH]ODWDEOHGHFXLVVRQGDQVOHSODQGHWUDYDLO 5HPDUTXHLPSRUWDQWHOHFRUGRQG·DOLPHQWDWLRQHWOD ILFKHGRLYHQWrWUHDGDSWpVjODSXLVVDQFHGHODWDEOHGH FXLVVRQHWOHFRUGRQGRLWrWUHDVVH]ORQJSRXUTXHODWDEOH GHFXLVVRQSXLVVHrWUHUHWLUpH 5fr61231b.fm5 Page 26 Friday, June 20, 2003 11:13 AM ,167$//$7,21 %UDQFKHPHQWpOHFWULTXH /HVEUDQFKHPHQWVpOHFWULTXHVGRLYHQWrWUHUpDOLVpHV FRQIRUPpPHQWDX[UpJOHPHQWDWLRQVORFDOHVHQYLJXHXU /HVGRQQpHVUHODWLYHVjODWHQVLRQHWjO·DEVRUSWLRQGH SXLVVDQFHVRQWLQGLTXpHVVXUODSODTXHVLJQDOpWLTXH /DPLVHjODWHUUHGHO·DSSDUHLOHVWREOLJDWRLUHDX[ WHUPHVGHODORL /HIDEULFDQWGpFOLQHWRXWHUHVSRQVDELOLWpHQFDVGH EOHVVXUHFDXVpHjGHVSHUVRQQHVRXDQLPDX[RXHQFDV GHGRPPDJHPDWpULHOUpVXOWDQWGXQRQUHVSHFWGHFHV H[LJHQFHV $O·LQVWDOODWLRQLOIDXWSUpYRLUXQGLVSRVLWLIjFRXSXUH RPQLSRODLUHD\DQWXQHGLVWDQFHG·DXPRLQVPP 6LFHODV·DYqUHQpFHVVDLUHLOFRQYLHQWGHUHPSODFHUOH FRUGRQG·DOLPHQWDWLRQH[FOXVLYHPHQWSDUXQFRUGRQ SRVVpGDQWOHVPrPHVFDUDFWpULVWLTXHVTXHFHOXL G·RULJLQHIRXUQLSDUOHIDEULFDQW W\SH+99) 7&RXW\SH+255) &HWWHRSpUDWLRQGRLWrWUH UpDOLVpHSDUOH6HUYLFH$SUqVYHQWHRXSDUXQ pOHFWULFLHQTXDOLILp %UDQFKHPHQWjO·DUULYpHGXJD] /HV\VWqPHG·DUULYpHGXJD]GRLWrWUHUpDOLVp FRQIRUPpPHQWDX[UpJOHPHQWDWLRQVORFDOHVHQYLJXHXU GDQVOHSD\VG·LQVWDOODWLRQ 9RXVWURXYHUH]OHVUpJOHPHQWDWLRQVORFDOHVHQYLJXHXUGDQV FHUWDLQVSD\VVXUODILFKHVpSDUpH´5pJOHPHQWDWLRQVHQYLJXHXU HQPDWLqUHGHVpFXULWpGDQVOHSD\VG·LQVWDOODWLRQµ 6LDXFXQHLQIRUPDWLRQFRQFHUQDQWYRWUHSD\VQ·HVWGRQQpH DGUHVVH]YRXVjYRWUHLQVWDOODWHXU /DWDEOHGHFXLVVRQGRLWrWUHUDFFRUGpHDXUpVHDXGHGLVWULEXWLRQ GXJD]RXjODERXWHLOOHGHJD]jO·DLGHG·XQWX\DXULJLGHHQFXLYUH RXHQDFLHUGRQWOHVUDFFRUGVVRQWFRQIRUPHVDX[ UpJOHPHQWDWLRQVORFDOHVHQYLJXHXURXjO·DLGHG·XQWX\DXHQ DFLHULQR[\GDEOHjVXUIDFHFRQWLQXHFRQIRUPHDX[ UpJOHPHQWDWLRQVORFDOHVHQYLJXHXUGDQVOHSD\VG·LQVWDOODWLRQ ,QVpUH]OHMRLQW % GDQVOHUDFFRUGFRXGp /DORQJXHXUPD[LPDOHGXWX\DXHVWGHP 3285/$%(/*,48(81,48(0(17,OHVWQpFHVVDLUHGH UHPSODFHUOHUDFFRUGFRXGp $ GHO·DSSDUHLOSDUFHOXLIRXUQL 5HPDUTXHLPSRUWDQWH6LYRXVXWLOLVH]XQWX\DXHQDFLHU LQR[\GDEOHYHLOOH]jFHTX·LOQHWRXFKHDXFXQHSDUWLH PRELOHGHVPHXEOHV/HWX\DXQHGRLWrWUHOLEUHG·DFFqV VXUWRXWHVDORQJXHXUSRXUSHUPHWWUHVRQLQVSHFWLRQ 8QHIRLVOHWX\DXGHJD]UDFFRUGpYpULILH]O·DEVHQFHGH IXLWHVjO·DLGHG·HDXVDYRQQHXVH $WWHQWLRQVLOHVERXWRQVGHFRPPDQGHGHVEUOHXUV WRXUQHQWGLIILFLOHPHQWIDLWHVUHPSODFHUOHURELQHWGX EUOHXUSDUOH6HUYLFH$SUqVYHQWH / 7HUUH -DXQH9HUW 1 5fr61231b.fm5 Page 27 Friday, June 20, 2003 11:13 AM ,167$//$7,21 $'$37$7,21­',))e5(1767<3(6'(*$= 6LOHW\SHGHJD]XWLOLVpHVWGLIIpUHQWGHFHOXLLQGLTXpVXUODSODTXH GHVFDUDFWpULVWLTXHVDLQVLTXHVXUO DXWRFROODQWRUDQJHDSSOLTXp VXUODIDFHVXSpULHXUHGHODWDEOHGHFXLVVRQFHWWHGHUQLqUHGRLW rWUHPRGLILpHSRXUSRXYRLUXWLOLVHUOHQRXYHDXW\SHGHJD]ÑWHU O DXWRFROODQWRUDQJHHWOHFROOHUGDQVOHOLYUHWG LQVWUXFWLRQVTXL GRLWrWUHFRQVHUYpSHQGDQWWRXWHODGXUpHGHYLHGHO DSSDUHLO 8WLOLVH]GHVGpWHQGHXUVFRPSDWLEOHVDYHFOHVSUHVVLRQVGH JD]LQGLTXpHVVXUODILFKHSURGXLWVpSDUpH /HVJLFOHXUVGRLYHQWrWUHUHPSODFpVSDUOH6HUYLFH$SUqV YHQWHRXSDUXQWHFKQLFLHQTXDOLILp /HVJLFOHXUVQRQOLYUpVDYHFO·DSSDUHLOGRLYHQWrWUH FRPPDQGpVDXSUqVGX6HUYLFH$SUqVYHQWH %UDQFKH]ODWDEOHGHFXLVVRQDXURELQHWG·DUULYpHGXJD]j O·DLGHG·XQWX\DXFRPSDWLEOHDYHFOHW\SHGHJD]XWLOLVp FRQIRUPpPHQWDX[UpJOHPHQWDWLRQVORFDOHVHQYLJXHXUGDQV OHSD\VG·LQVWDOODWLRQ 5pJOH]OHUDOHQWLGHVURELQHWV 5HPDUTXHVLYRXVXWLOLVH]GXJD]GHSpWUROHOLTXpILp ** OHVYLVGHUpJODJHGXUDOHQWLGXJD]GRLYHQWrWUH VHUUpHVjIRQG 5HPSODFHPHQWGHVLQMHFWHXUV YRLUOHWDEOHDXGHOD ILFKHSURGXLWVpSDUpH 5HWLUH]OHVJULOOHV $ 5HWLUH]OHVEUOHXUV % 8WLOLVH]XQHFOpjGRXLOOHGHWDLOOHDSSURSULpH & HW GpYLVVH]O·LQMHFWHXUjUHPSODFHU 5HPSODFH]OHSDUO·LQMHFWHXUFRQYHQDQWSRXUOHQRXYHDX W\SHGHJD] 5pPRQWH]O·LQMHFWHXUHQ ' 3RXUOHVPRGqOHVpTXLSpVG·XQEUOHXUWULSOHFRXURQQH SURFpGH]FRPPHLQGLTXpVXUODILJXUH 5HWLUH]OHVGHX[YLV ) SXLVOHFKDSHDX * HWUHPSODFH] OHVGHX[LQMHFWHXUV ' FRPPHLQGLTXpSUpFpGHPPHQW 5HSODFH]HQVXLWHOHFKDSHDX * HQYRXVDVVXUDQWTXHOHV MRLQWVVRQWELHQHQSODFHDYDQWG·HVVD\HUG·XWLOLVHUODWDEOH GHFXLVVRQ $YDQWG·LQVWDOOHUODWDEOHGHFXLVVRQQ·RXEOLH]SDVGHFROOHU O·pWLTXHWWHIRXUQLHVDYHFOHVLQMHFWHXUVFRQWHQDQWOHV LQIRUPDWLRQVFRUUHVSRQGDQWDXJD]XWLOLVp 5pJODJHGHVUDOHQWLVGHVURELQHWV 3RXUYRXVDVVXUHUTXHOHUDOHQWLHVWFRUUHFWHPHQWUpJOp UHWLUH]OHERXWRQ ( HWSURFpGH]FRPPHVXLW VHUUH] SRXUGLPLQXHUODKDXWHXUGHODIODPPH GHVVHUUH] SRXUDXJPHQWHUODKDXWHXUGHODIODPPH /HUpJODJHGRLWrWUHUpDOLVpDYHFOHURELQHWHQSRVLWLRQGHUDOHQWL SHWLWHIODPPH 8QHIRLVOHUpJODJHWHUPLQpUHIDLWHVOHMRLQWHQXWLOLVDQWXQHFLUH jFDFKHWHURXXQPDWpULDXpTXLYDOHQW /·DLUSULPDLUHGHVEUOHXUVQHGRLWSDVrWUHUpJOp 8QHIRLVOHUDOHQWLUpJOpDOOXPH]OHVEUOHXUVHWWRXUQH]OHV ERXWRQVGHO·RXYHUWXUHPD[LPDOH jO·RXYHUWXUH PLQLPDOH SRXUYpULILHUODVWDELOLWpGHODIODPPH ">
![](http://s1.fixfr.com/store/data/000435452_1-f972b7f1babccd219994716dbdbebd66-210x147.png)
Lien public mis à jour
Le lien public vers votre chat a été mis à jour.