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
">
公開リンクが更新されました
あなたのチャットの公開リンクが更新されました。