<SEC-DOCUMENT>0001193125-13-162363.txt : 20130419
<SEC-HEADER>0001193125-13-162363.hdr.sgml : 20130419
<ACCEPTANCE-DATETIME>20130419124125
ACCESSION NUMBER:		0001193125-13-162363
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130419
DATE AS OF CHANGE:		20130419
EFFECTIVENESS DATE:		20130419

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PENTAIR LTD
		CENTRAL INDEX KEY:			0000077360
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY (NO METALWORKING MACHINERY) [3550]
		IRS NUMBER:				981050812
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11625
		FILM NUMBER:		13770952

	BUSINESS ADDRESS:	
		STREET 1:		FREIER PLATZ 10
		CITY:			SCHAFFHAUSEN
		STATE:			V8
		ZIP:			CH-8200
		BUSINESS PHONE:		763-545-1730

	MAIL ADDRESS:	
		STREET 1:		C/O PENTAIR MANAGEMENT COMPANY
		STREET 2:		5500 WAYZATA BLVD
		CITY:			GOLDEN VALLEY
		STATE:			MN
		ZIP:			55416

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENTAIR INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PENTAIR INDUSTRIES INC
		DATE OF NAME CHANGE:	19790327
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d525909ddefa14a.htm
<DESCRIPTION>DEFINITIVE ADDITIONAL MATERIALS
<TEXT>
<HTML><HEAD>
<TITLE>Definitive Additional Materials</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>WASHINGTON, D.C. 20549 </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SCHEDULE 14A
</B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Proxy Statement Pursuant to Section 14(a) of the </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>(Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Filed&nbsp;by&nbsp;the&nbsp;Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Filed&nbsp;by&nbsp;a&nbsp;Party&nbsp;other&nbsp;than&nbsp;the&nbsp;Registrant&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Check the appropriate box: </FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Preliminary Proxy Statement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Confidential, for Use of the Commission Only&nbsp;(as permitted by Rule 14a-6(e)(2))</B></FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Definitive Proxy Statement</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Definitive Additional Materials</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting Material Pursuant to Section&nbsp;240.14a-12</FONT></TD></TR></TABLE>
<P STYLE="margin-top:18px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>Pentair Ltd. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Name of Registrant as Specified In Its Charter) </B></FONT></P> <P STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Payment of
Filing Fee (Check the appropriate box): </FONT></P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>

<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">No fee required</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.</FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Title of each class of securities to which transaction applies:</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Aggregate number of securities to which transaction applies:</FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
filing fee is calculated and state how it was determined):</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Proposed maximum aggregate value of transaction:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(5)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Total fee paid:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD></TR>
<TR>
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Fee paid previously with preliminary materials.</FONT></TD></TR>
<TR>
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="4"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify
the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
<TR>
<TD HEIGHT="24"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD>
<TD HEIGHT="24" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(1)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amount Previously Paid:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(2)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Form, Schedule or Registration Statement No.:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(3)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Filing Party:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">(4)</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Date Filed:</FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P></TD></TR>
</TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g525909g01y02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>**** IMPORTANT **** </I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Dear Pentair Ltd. Shareholder: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are sending you this reminder notice because
as of April&nbsp;15, 2013 we had not yet received your vote on the proposals being considered at the Pentair Annual General Meeting of Shareholders to be held on April&nbsp;29, 2013. If you have already submitted your vote, you may ignore this
letter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">You are being asked to vote on the proposals outlined in the proxy statement previously sent to you. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We urge you to vote your shares immediately. As a shareholder, your vote is very important and we are asking you to submit your vote as
soon as possible to ensure it is counted. You must submit your proxy card by mail in order for your voted to be counted. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>***Please Vote Today*** </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Pentair&#146;s Board of Directors recommends that you vote &#147;FOR&#148; each of the proposals outlined in the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>proxy statement previously sent to you. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">If you sign and return the
enclosed form of proxy without indicating a different choice, your shares will be voted &#147;<B><I>FOR</I></B>&#148; each of the proposals. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Thank you for your investment in Pentair and for voting your shares. If you have any questions or need help voting your shares, please call our proxy solicitation firm, Morrow&nbsp;&amp; Co., LLC at
1-877-807-8895. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Sincerely, </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Angela
D. Lageson </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Secretary </FONT></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0px;margin-bottom:0px">


<IMG SRC="g525909g01y02.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>**** IMPORTANT **** </I></B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Dear Pentair Ltd. Shareholder: </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We are sending you this reminder notice because
as of April&nbsp;15, 2013 we had not yet received your vote on the proposals being considered at the Pentair Annual General Meeting of Shareholders to be held on April&nbsp;29, 2013. If you have already submitted your vote, you may ignore this
letter. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">You are being asked to vote on the proposals outlined in the proxy statement previously sent to you. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">We urge you to vote your shares immediately. As a shareholder, your vote is very important and we are asking you to submit your vote as
soon as possible to ensure it is counted. Instructions on how to direct your broker, bank or other nominee, which may include instructions on how to vote over the telephone or Internet, are included with this letter. </FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>***Please Vote Today*** </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Pentair&#146;s Board of Directors recommends that you vote &#147;FOR&#148; each of the proposals outlined in the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>proxy statement previously sent to you. </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Thank you for your investment in
Pentair and for voting your shares. If you have any questions or need help voting your shares, please call our proxy solicitation firm, Morrow&nbsp;&amp; Co., LLC at 1-877-807-8895. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Sincerely, </FONT></P> <P STYLE="margin-top:24px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Angela D. Lageson </FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Secretary </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g525909g01y02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g525909g01y02.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`10#G`P$1``(1`0,1`?_$`,0``0`"`P$!`0``````
M```````)"@<("P8$!0$!``(#`0$!`0````````````<(!`4&`P(!"1````8"
M`0($`@4)!P4``````0(#!`4&!P@`$0DA$A,*%!4Q02*2UC(C%A>W6'@9.4)5
MMG<8>3I1M3>7.!$``0(%`@,#!@8/!00+`0```0(#`!$$!08A$C%!!U$B$V%Q
M@3)"%)'14K,5"*%BDJ*R(S-4=%5U%C87-_"QP7,UX8+"97+24V.3TS1DE(4F
M&/_:``P#`0`"$0,1`#\`O\<0AQ"/+3MWJ%8F:C7K%98:#F[]+/8&DQDH_;LG
M=JG(^&?V)[#023@Y!DI1""BG3P6Z7F5%LV54`HE3.(>S=.^\A;C2%*;:3N60
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M@WBH/8*`B&WF<VJKMB^DU8WR/:)"K-PJ0`4P`9ZR+\,*R+/7=3NF3^)5!NMI
M2IS'7%>4J84?97VH/L+_`-U7>ENR,+S-N^-"WUY";NA/'@'0.:?MA[2?2-)R
ML6\B")"AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$
M(<0AQ"'$(<0AQ",+9ZSG4==J$7)5\3?!4F]EJ]?FGT>C\2O#M[/,-H4DTJT+
MU6=,HQ=V15P1(#+>@!A(4Y@`AN*S[.K/TYL'[SW_`'BSHJ6&G%I$RV'G`V'"
M.*DH*@5`=[;,@$B1UUTN=-:*3WVLW"G"TI)`G+<H)F1QD"9F6LN45O?=53L-
M8=!M;;'!2L?+P,OLQ796+F8]VBZC7\:[Q)DQRV?-'B)S(+-5T#@<IRF$HE'K
MRT'U<JVDN>0/7"WNH?HG[85MN((4A:5.LE*DJ$P00001'`=47&W<>IW6E!32
MJI)!&H(+;DB".,^4HI\Y(U2V7T_Q9JIM9<0F</RN>)ZVV_`J#5Y(U_*,%&XO
M+292)R<X*F5NZJR=@=VY%6%(8P.U6S<7"A"HK)`>R]%D-DR>OK\>I@FI8I4(
M0^HR4THN;P6A\O:$'>1I,R!F)Q$51:;G9Z2ENKTVE/J4IL`D+3LVR6>R>[N^
M0=AB\GV3.]?6]\ZQ':_;`24/5=PZC#"8IP!O%06?:_$MP%U<:>U`4VS*YL&R
M?J3D(ET\G0SUF46HJI,ZM]3>F51B-0;K:@IS''%:'BIA1X(6>:3["SQ]4]X:
MS;A>:-7YH4%>0B[H3Y`'`/:3]M\I/I&DY6'N1#$@0XA&E^R/<1TIU!M\)0=E
MMB*+B"XV2MIV^#@+2,T#V2K2LI(0J<PW^6Q+]'X4\I%.40\QP-YT3>'3QYT5
MEQ+),B87562C>J:=M>Q2D`$!4@9'4:R(/IC47&_6>TNAFY/H9=4G<`J>HF1/
M0'F#\$:\_P`\'M/?OP8?^]:OPWS<'IGGHU-JJON1\<:[]],6_/6?OOBC:/7[
M>_37:I\O$:[[+8?RS/-4%'2]8JMSBE[8DT2(919X:INU6ED^#1(41.L#7TR!
M^48.H<T5VQC(K"D.7BBJ:=H\%+0H)/\`O2VS\DXVE!>[1=#MM]2TZL"<DJ&Z
M7;MX_8C+V;,WXHURQE9<RYON\/CG&%.)&'LURGA=!$PY)F8CX"+,Z^";.W/1
MY,RK=N3RIF^VJ'7H'40P+;;:^\5B+?;&EOUKD]J$ZDR!49>8`GS",NLK*6@I
MU5=8L-TZ934>`F0!\)($1_?SP>T]^_!A[[UJ_#?.L_EEGWZJJ_N1\<:#]],6
M_/6?OOBA_/![3W[\&'OO6K\-\?RRS[]55?W(^.'[Z8M^>L_??%&[6%-H]?\`
M8W$SK.F$,HUW(V)&3BQM'5Z@?F'R9%Q40.-D2-\:R9N_-$@0?5Z)"'A]GKSF
M;E9;K9Z[Z,N;"V:^2?Q:O6[WJZ>7E&[H[C15]-[W1N)<IM>\)RT$SQ`Y:QA;
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MB4>JH=`'QZ8MEQ;(<B0XNQTCM2AH@+V`':53VSU'&1^"/>XWNU6A24W)]#)6
M)C=/67F!C63^>#VGOWX,/?>M7X;YN_Y99]^JJO[D?'&L_?3%OSUG[[XH?SP>
MT]^_!A[[UJ_#?'\LL^_557]R/CA^^F+?GK/WWQ1F_7SN7:*;69"#%.NVR5%R
MUD(8*4LQJO54;&L^1K\*HS1DY=RJ[@VC-JR:+R*"8G45(!E%B$+U,8`'67?#
M,HL-)[]>*)ZGI-X3N6`!N,R`-9DD`_!&=;\BLMT?]VM]0AU^1,DSG(<3J/+&
M7MDMM=;]0*G"7G9?+]1P]5;)8$ZK`2]L<.DTY>P*1[V5",8-V#1\]<+$CHY9
M8XE3$B9"?:,'4O77V:PWG(:A5)9:9VIJ$(WJ2@3(2"!,\@)D#SF,NX72WVED
M/W%U+32E2!5S/&6DS'[NO^QV#=J,=-<M:\Y+K65\<O):6@D+75G"ZT?\Y@G`
M-I:,6([;M'C5ZR5,7S)JI$,)#D.'4ARF'QNMHN=CK#;[NRNGK0D$H6)&1$P?
M,?\`9QCTHJ^CN3`JJ%Q+E.3*8X3'G_M*1X&,V<UT9<:#(=T;M_.<Z%UG0VBQ
MTKG<V2%<0EQF49_](1R4C,GKRM0Z#"`Q^:$FDC-Q_/>EZ@?E]/'G4G"LK3:O
MIPT+XM/@AWQ9#9X9`4%SGPD08T:<DL2JWZ.34MFMW[-FL]T]NWA*>[3CQC/V
MQ>T.`-2:(TR=L?E"NXDH3^QQ]1:6>S_'_+E[)*M)%_'1!/ES)^O\4Z9Q+E0O
M4@%\J)NHAX==5:++=;]5^XV=A=16!!7L0)G:"`3RT!(^&,ZON5#:V/>;@XEI
MC=MF9RF03+0'D"?1&DG\\'M/?OP8>^]:OPWSIOY99]^JJO[D?'&E_?3%OSUG
M[[XHR;BSNP=MS-%E8T['&YV!YNT2BQ&L5!OKFUJ[^5=J&\J3.+2MB<'\Q>K'
M$"D11$ZIS"`%*(B`<P:[!<QMK!JJVVU:*=/%7AE0'E.V<AY3(1E4N48]6N!J
MFK&%.'@-VTGS;I3]$2$\Y.-]&&]@\LA@K#-_RZ:%-8DJ%#ISKF$(Z*R5D6:4
M@R0>MV[HZ:J:+H6BYQ2$Q1)Z@%`W0HB/.+ZAY<,#PNX9@IGWA%`R'5-[MI6G
M>E*@%25([5$C0B8$](U]UKQ;+<[<"G>EI.XCA,3$Y>67"([.X1F+'^=>W1.Y
M-QM.H3E6G;+CDY%?LHO8M\A<H@)"%G&1C"I%S,4J/D<(*>)1Z&*)DS$.:MWU
MC,RQ[/OJU5&48R^FHM534T1!X*0H5+6]IU,YH<0=%H/#B"4D$\CEUPI+CAZZ
MZD6%4ZEM&?,?C$S!'(CF(C.QYA^'K6$-7[GO_7'UKU8B=F8;(&'\4S[55X:N
MVDU%NJ41DNV0KA)1:3Q:DX?&>%K1R^5TOY)`R1T@,V><9]7;JAU`^K9T_9O>
M;.NT^`Y'4IHJ=M22:FB9=2M]=6B<E-T[I:"2U(KV*4^V$S`<Y6VLJMUKI:G)
MP3935A339F2@[%D.*''P^)+>O'=*6AUD]UP0V0S=MYOCQ!6[+79UG9I26=/1
M//N;8YL!,'HP#.M-HHKA27<3"KE,C5-N!S*F.4"@/7G]@/JY7.WU-!=+LP^T
MNVK9IG4O!:?#+9#Y#@7/:4D$&8,I:Q[=4B*E%N]V_&>(7-FWO;I^%+;+C.>D
MN/**Z&X&EN>NV'==7%KO;WE-V"O&,6.PA&E,?G8S&$IQK>)B'K$(UM4>Z,+Z
MW12,(1R^7;^5L@Z4,W2,NFF*JLXXWDUISVDKTL,ARSM/FG[XF'DE`4I12>"3
M.0'&4CH=!'-WLUPQEZE+Z]EP6T'>[Q;.X@"?,B4SY=.4S=?[*'>KJ^_5588&
MSQ(0]2W%IT+YUDB@A%P6>8"*;A\5=Z4U`4V[2ULT">I.P:7BB/F>-"BT%1-I
M6+J;TSJ,0J3<[8%.8XZO0ZE3*CP;</R3["^"O5/>&LTX9F;5^:]RK2E%W0-1
MP#@'M)';\I/I&G"PGR(X[^*`_NR3>GO+KZ<``13U*9'`!^CJ7+V3C=/#ZAZ<
MMI]7H?\`Y>N\MR/S+40+U7_UNG/_`+3_`(U1N3K;[7O6;.&O&",SS&S>P4++
MY:P[C3)4K#145C$T7%25XIL-97\;&F>U9T\/'L74D=)$RJAU3)D*)A$PCSFK
MSUVR"VWBKMK5%1*:IZEUL$^+,AMQ2`3)8$R!,R`$;>W=+[56V]BL74/A;K*%
MD`(D"I()`[O`3YQ#%W8>V9:NSOG7`UKP[G6VV.(O2$Y;L49&]%K3\HX_N^.9
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MYY*[1EK?O%Y`UE;N#I*1YZZF5,$>@""IO-U'IR9NIG4:NP2HHV:.F9J$U+;B
MCO*AMV*2`!M[=WV(CS#,1H\F34.5+RVBR4`;9&>X*G.?9*)NT_:7:TK'`B6Y
M>=%3B`B!$ZKBXYQ`/I$"EC1'H'(O_P#Z$O7ZNI/NW/CCN!TJM1,A5O3\R(FQ
MU1T6J7;KT,R+K92K[9\D0<;$9KN2=FMS"'C9E5U<8B1D73([:#108`W9J$\J
M9@+YA`?'D89!E-1F.5M7NJ:0RZI3*-J"2)((`,SKK':6NR,V"QN6YE:G&PEP
MS(D=1_;X8Y;.-,@7?%%NI62\:6N9HV0:++QEFIUNKSP[&9@)Z-,59F_8N"]0
M$0Z"15(X'1<(F.DJ0Z9SE&^%PHZ2Y4SMNKVTNTCR2E:%"84#V_W@B1!U&L5?
MI*AZC=14TRBA]M04E0T((X'XQS&D=*7LU]WJD]R/%@U&\*0U-VTQK#-39/HK
M4Q6<==(I(R3(F5,>M5E#*K5V3<G(619%$ZL*^4!(XB@JV65I-U(Z>5>$W#QZ
M?<[C[ZCX3AU*#Q\)P_*2.!T"TC<-9@6/P_+6,DIRR[)%T:2-Z>2AP\1'D)XC
MV29'B)T]>^)_6TS9_F+K1^S[$W+%=*OZ74_^75_..Q$6;Z9L]+_M&?P$1<O[
MHO9PQGW1;7AZUW[-.0\4N</5ZXUZ,:4B%JTJC,HW&2K\DZ<2![$U<J(JLSU\
MA4P2Z`(*&\WB`<K?@G4>NP1FI9HZ9E\5*T*)65"6P*`EM[=QB8LFQ"ER9UIV
MH=6T6DJ`V@&>X@\_-V15N[NG8BQ'VVM4V&PU(S]E+)TT]RW2,<&KER@*;%Q!
M&-KC[*\<297,`R;OA>-#0)`3*)O3$%!\P?1TG?IWU8N.:Y$;+54C##0IEN[D
M%1,TD`#O&4C/6(OR_!:+';6FXL/NN++R424`!)049Z>:/QNSYV-L2]S#6JXY
MTO.>LGXOF:QF:QXP1K],K].E(ES'0E4I5B0EEG5@:N7H/W"]I52.0O1,I$2"
M'43&Y[=1NJ=QPF^-VJDI&'VUTR7=RU*!FI:TRDG20V@]NL?.'X11Y);5US[S
MC:TO%$DA)$@E)GKK/O1:[[7O9RPAVOI3+-GHM_N66KME9E78)U;;W%UV,D*Y
M5*^L\?FK4&C7FK9`K.9F717;PZGF.LHU;AX`D'6O^==1;IG0IVZMINGIJ?<0
MA!)"E*D-RBK68`D.R9[3$J8UB%#C*W7:=:W'G0`5*E,`$F0EIJ>/F$56._%L
M#?>XMW.:/I5@%(]PC\*SJ>"*%`M'Q$8VRYYMKIJOD^:<.E3`T9MJXHQ:PR[E
M0?3:)PSM43`0QN3QTGM-'AF#O97=_P`6NI1XRS*92PC1H`<RHE2P.>](XRB+
M<[KJC(LE;LM!WPRKPTB<@752WF?*4MLSH)$QF'VP.X,CA/9S+&A^2G3B&B,T
MJ2]BI$1+F,W/7L\8P;.(^XUGT'!R%:/K73(I8%2=/.9U7DTP`3*>.NZYXZW<
M[+39=0`*53A*%E,N\R[JA6G$(61KV.=@C,Z9795%<G;%4]U+LR@'23B)A2?2
MD?")1?$Y56)SCFC5O_D<MO\`=BF/V[27+J57]$#^P$?,HBMK7]1Y_P#-C\Y%
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M:AN2L#@HA,TD2U!(TEPGK&[G:CW&RYG[L<]S?&62K1/V.;U6URV`J]`O+^6>
M*V9.A6;7"]3M3@EYP5OFRSRCR,2\09.C*BNBQ%JD4_Y@H\YG/<9M]GZIV2LH
MFT(I[A6TZEM@#;XB:AM*SMX`+!!(E*>[36-YBUZK+AA5R8J%E3U+3.A*CQVE
ME12)\>Z09=@D.465NX2(!I7L6(B``&/'@B(CT``!_'B(B/U``<H1]8D$]$LC
M`X_1Y^<1'>9:98W6'_N3_>(@VP3B+(&N6LD_L_F*!<3F'YZZXBDF>NT]YD&.
M1&;:Z11V&0)]HZ*(1#R,(<%85(Y.D@!0^-*=F8B:E$NGF(9'TPZ75/5+-F%O
MX?45UO6+.[HFJ2*E`15NI5^34@&=.DB3O%X*9VI5&ULH*NRV1=ZN:%+H%.M'
MW=7M@."3AGP(T*!H%$=Z:91MYW-\GT_8W4?`=SPV\6M\9<,U1$;#QL6T45G4
MY]:H6EL:J/(5`%7;6R-':A4#M.@F\P@)/,F8AS2W]:;*+/U)Z0X[><)6JMIJ
MR]H0VAM)+OBFF?'@*:3-27@2$EN4]01-)!._S6K8N]AI*BW$N-NU20D`=Z?A
MN=W;Q"@=-O&<:$7S)=,[2>4^VO;MY:RED2&M_P#J295Z1<$4L#O2AS8RX8!U
M9Z4P2^)2G3223HR=D]$AUXY$ZAXD1'XHC^YGU-NBO43'^C%UQJZW)U5U6]35
M*:&:2RRV4OGW4.3*BLJ_&%(4&`YW0/;.M:6G#E6Y=_'B)67MOM>Z[O#]3C.?
MMRX>QSW1D>Z?M-;O&VVIUQIT]$VBIVG4%A/UNR0+]M*PL["2N4;J]C96*DF:
MBS1\P?-%BJ)*IF,0Y#`(#R\_0-EZFQ^X4]0A3;Z+AM4E0DI)#2`00=00>1C0
M]476WKM2O,J"FE48((,P05J((/88BE[76B^S>\6SM1@]<9F=QD;&,]`7:Z[$
MQPO6;3!S-F]!S&SL?(-%6JCZ^/SMCDA8I)4JCU4IS+"FS3<JD[[/\JL6+V)Q
M5Y2A]50A2&Z<R)>)&H(UDV--Z^7!/>(CF,6LESO-U;%N);\)04IW638GVB4U
M'V4@S/.0UCJD5^/>Q$#"1,G-/K+)1D1&Q\A8Y-"/;24^]9,T6SN:D&T2T81;
M=]*KI&75(V01;D44$$TR$`"A0QQ25N*6A(0DJ)"1.0!/`3F9#AJ2>V+0(24H
M"5$J4``2>)\IEIKQTBA![L<I3[SZ]D-^2;4MB4WCT^R;+^3@'Q^KP'EL?J]:
M8M7'_F1^9:B">JW^MT_Z)_QJC!^(^_1W<,68IQIC*@8UHKRB8[H-/HU,>.-8
M\C3#AU5*G7X^"KSEQ,,;&@RE5UXE@D8[I(A$W!A%0``#<S[ATHZ>5MP?K:JI
M=%4\\M:P*MA,EK45*&TIF-2=#J.$85)G67TM*W34[""PVVE*3X*C-*0`-0K7
M0<><8YM6,N\!WS\_427R-BZW$:0+`*G$W6?Q?.8;U_Q!5I)^21GI<%YULD>7
MD'9TRKKI-UY29D1;(H)AY$TP3S::X].>EEI>;H:AM3JU;RA+J7GWE)$DCNS"
M0)R$PE"9D\S/'<I<MS>O;<J6E[4B6XH+;3:2>\=93.FLB5&0T(BTCW8]>:EJ
M=[?W*.M]'7</*SAW&>"*4QDW:94GDVYCLU8S-,6!ZB0QR(O;#-+.'JQ"F$I%
M'!@`>@!R#<!O%1D'5IB]58`?J7WED#@F;3DDCR)$DCR")-RR@:M>!N6YC\DR
MVTD'MDXB9/E)F3YXIT=N'M2;+]RN*RY*Z^Y!Q;1VN'Y2GQ5J3R-9KQ7E9%S<
MV4\]B5(DE/J=F(Z2;(P"X+"X%$Q#'*!`,`FZ6/S?J!9,*>IV;NP\\:A"U)V)
M;5((*09[U)E,D<`?[HB#'<6N61H>5;W&VTM%(5N*A/<"1+:#/@>,6<>T#V-M
MQ]!MSXG8;-F5<)VZBL<9Y`IJT/1;EDB;L!I6U$ABQKE-A:*)7XL6:`QQ_5.+
MD%"^8/*4W4>D%]1.J&-Y;CAM%LIJAJJ+[:]RT-)$D[IB:%DS,QR],29B.%7B
MPW@5U:\RNG#:TR2I1,U2EH4@<NW_`&6=\S?^'\K_`.6MZ_PO*<A*W?Z@Q_G(
M_"$295_^D=_RU?W&.:3V)M;<0[<[P?Z?LYU=&UXYO^N&:F4DU!3X64AY%O'U
MM6&M-8E`(HM"6JN/NCE@\3`3(JEZ&*=,QR&NUU9O-PQ_%_I:UN%NM:K&2#R(
MF9I4.:5#10YCRZQ6[!;;1W>\F@KD!=.NG7/M!D)*!Y*!U!C\+<747;+LG[FU
M6:J]NG(I:$G'=SUJV&@F@MXN]UQFMZ3N)FV?12,"P-(]T5A:*ZX]1NX07$Q2
MJLG*1Q_<;R*P=4,;=IZEM"EJ0$5%.>*%'@I)X[9C<VX-4G0Z@B/F\VJZX7>4
M.,K4-IW-.C@L<P>4^2TZZ:Z@B,`[3;7R^[^[K39ZQ55C2K+DBS8`2L]>BGBS
MZ';V2GPU!I<X^A57(?%I0\S(P"CQL@L919LDN")U%!)ZAMSC^.HQ3%56)IPN
MLLIJ"E1$B4K+BTA0X;@%2)&A(F`(UUTNJKW?$W-Q(0ZXIK<!J-R4I29>0D3$
M]8ZS?/Y_Q:R*W?NF?Z9T'_%'A[_L61.3+T&_CU?[/=_"3$<]4?X:3^E(_!7'
MD/:F?T^<M?Q9WS]F>(^9G7W^,6/V>W\Z]'ETK_A][]*5^`W$NO<^W+C=#M)\
MT[!BNT_3*,@_T2Q+%NQ*8LWEJY>I"TAH"!P,#IM&OEC2;Q/^[V#@?JY'6$8V
MYE>34UF`/NZE;W2/991WG#Q$B4C:G[928ZW);RBQ6=ZO)'C`;4`\UJ]4>CCY
M@8I->WPNFI&+]K,F[?;J['XQQQ9*%`OXW%C7*-I2CK#;\DY54DSWW(Z23E-4
MSL(:O%<M#KF$!,ZG3B7J9,>EFNL5-?ZRPT^-XU1U#U.ZH%WPTDI0VS+PV]-!
M-4C+D&QVQ"^`/6FGNKMWO-0VVZVF3>\ZJ4N>]?H$QYU'LC!/=<OV$,3=SW_5
M]V_<ZXZR+#VVRU/9.&E,:SJ,PSH.;XF;]6YP,TFW(D#=O:)R)++F2Z"FX;S"
MZ7B!3!S:=/J*Z7/!3C>6TKS):0NF(<3M*V5)[BDD\T!6WR;$F,/*JBAI,F%X
ML;S;B%*2\-AGM<"IJ!E+UB)^4*,=%'4O8VG;<:VX9V0HBB?Z.Y<HD-:BLBJ^
MJI!3"Z(M;-6'9^@#\?5K(U=QSCJ`?GFQN4\OUGJ<?O-39JO\O3O*03\H`]U0
M\BTR4/(1%@[7<&;K;F;BQ^3=;"O,>8\Z3,'S1SSJW_R.6W^[%,?MVDN6]JOZ
M(']@(^93%?&OZC__`&Q^<BS'[J/^F[2OXK<6?X,RAR$^@W\<J_9[_P"$U$E]
M4OX;1^E-_@KBJIH-W6^X-H]AJ;Q%JI2JM8\=3&0IN^R;Z:PA<<CO$[;,PM<A
MY)J6?KLS'-$6Z<;7V9BM3$%1(3F.(]%`#D\YA@.'Y/=4W*_OK;K4LI;`#[;7
M<25$':M)/%1UY^B(NL.4Y#9:(TEI;2NG+A49MJ6=Q`!U!`X`:1].S_=/[D/=
M%2HFH60']241MV2JY#Q>)\=U!IB\]XR,:5+&U2&N,C:[&[6+\LG5P%)HY>,F
M:3TI%%R&522$GY8L#PO!$O9-2^(4ML*477%^+L;E-2D>&D`[A[0!,B0#(F/R
MYY3D>3^':*C;-;@`;2G9N7.20HE1X'D2!.7DBW'I!VB+WJ#VG-M];1>UVR[6
M[<82S6VMXMI46U-BKY=L.V*@8YQVSL"Z/E4@JJ:233>28H@15Z[=K$**'I!R
MOF3]1*?(L_M]]*5HL5OJ6"@2FLMMO)<<64\-RY&2?DA(.LS$M67$GK1BM7;0
M4JNE6PYN^2%J;*4HGV)G(GRF)][-5Z]<X-]6K7#L+!7Y,&Y9&'E$".H]^1J[
M0?()/&JG5)P@5TV(84S@)#^7H8!*(@,)W.UVZ]4+ELNS+=1;W9;VUC<A82H*
M`4DZ$;D@R.AE(@B.Z>89J&BR^D+:5Q!U!D9ZCGJ.$1^]UB/>R6FUJB(E@ZD9
M*1N^+HV+BXYLHZ?/WSN\0S=FP8,VY#K.73E8Y2)ID*)C&$``.5W^MI25%9T4
MK*&A;6[5NUM"AMM"2I:U&J;"4H2-2HG0)`F>`$<KG"%+QUQML$K4ZT``)DDN
M)D`!Q/8!$)&=[!DCLIX'UGVJM]?9Y%L=_P!F8&%R=A.0=(*0]?H4CB[(2C@]
M4>J`JSB,W1J3<ITIHGF13+YXXP';*K*GZOZD_P!5)%MHJQW-75','Z455.U/
M=3T#R2EM*BC5*ZE33BVWGA)2$++;9D"5<66*G!+;3W>J3XK[M4`XU/NH26U^
MKR\66FX:2[NHU.C'N4=F<,[?X6[:V?L"V]K<L=W1'9%1H[3`&\K"2S9#"99B
MJ6J),<[F`M=>=&]!ZR6^VD<`,43I'34/_1;HC9;ECUSO5INS1:K6O=I@\"#X
M\E)/!25#4*&A\\XP>H]SH[O06ZNH%[Z=?BZ\P?Q<TJ')0YC_``B%S0?2'9[N
MA99H6`:/,SGZM<1QAVEBR+9OC):D:_XWGY][8))C%)+*$34E;%-NGCB(K[=5
M/XQ\JLL/HMBN5TY,R[*+%@5O>NU0A!N-4J:6DR"WW$I"0I4N"4I"0MP\I`34
M1'%V&R7/)ZMN@9*O=61)2U3*6D$DD#RDDE*>W4R3..EWISIU@[1C!E8P'@2L
MD@ZO!$^,F9EYZ+FTWNU.4423-VNLNFBB>8L<RHB43G$"HMT2IMVZ:3=))(E)
M<BR*Z91='+O=W"NI7P'LH2/50@>RE/(>DS))BR-GM%#8Z%-!0)VM)XGVE*YJ
M4>9/V.`D`!&TW-'&TBE-[EK27;[9O;["EPUYUMR[F>JP>LK6KS%AQ[4W4_%1
MEC+D[(<H>%>.D#E*E(DC9!NN*?T^FL0?KY9?H?E&/6+'JNFO%93TSZZ\K2EQ
M822GPFQ,3XB8(]$0SU(LEVNEV8>M].Z\TFFVDI22`=ZC(^82/I$6O-)ZS9:7
MIQJC3KE#25<MM3UPPG6;/7IE`[67@9^!QO6XN7A9-J<1.V?Q;YJ=!5,?$ATQ
M+]7(!R-YFIR*X5-.I*Z=RM?4E0U"DJ=600>8(((B4[,VXS:*5EX%+J*=M*@>
M((0`0?*#I&SO--&SB*3O=8GR;G#MB;-8OP[1+-DS(UG:8S)7:33XU27L<T:,
MS#C^8D2QT>D(*.!91,>NY4Z?DHHF-]7.]Z97"AM>;T5=<74,4;9<W+69)$VE
M@3/E)`'E(CE<UI*FNQJHI:-"G*A6R24B9,G$$R'D`)\PBDKK+@;OXZ:-+BPU
M@P!M_AYGD%W"OKFA7\204B2?=UU"0;0B[H;-"3AT3QZ$JX*3T12`05'S`(@'
M2SM^NG27)UM.7VKM]0ME)""7RG:%$$^JM/$@<9Q#%LH<[LR5HME/5M)<(*I-
M@SE.7&?:8VD_6][IK^YMX/\`TECK\#<Y_P"BN@WR[=_\AS_S(V?OG4_Y-;_X
M:?\`JQ:1[8[_`'BO/;:N`;T1N3EMEY1UG>)^69*K$76KL\KZS5XUI#8D)#1D
M2S,W=(*^1J8J(&5Z^)A^GD$YLC%J7,T?NJIGZ$2&#-M14@*TW]Y1)T/'6)0Q
MHWI['5?38<^D3X@DH25*6FDASG+3S:2BM[[?+0;=G7GN,4W)&==6,UXEH+/"
MV681U<+S3'D)`-Y>780!(N.5?+&,0CM^=N<$B#T$PE'I]')KZP9?C%XP]=%:
MJZFJ*M52T0A"PI6T$DG3D(COI_8+S;K^FIKJ9YI@-+&Y22!,C3^QD?)%R/='
M33">]V!;7K_G."^8UZ=3^.K]A8E02M&/[@T16)!WBG2*J:@Q\]#*K&Z`("BZ
M;G4;."*(+*)FK;CF1W/%KJW=[4O:^@R4D^JXB8W(6.:52U[#(B1`,2]>+/17
MR@705R9MJ&AYH5R4D\B/LZ@Z$QSPLF=DON,X`V8+0(O6W)^::;3,E5)W"YCQ
M?4W,S1;?44[%&2+*Q(JHN%5H9Z6,)UD(]?JJP<D43$RB8$54N)0]4,.O%B][
M=K&*6J<96%,N+`6A>TC;]L)^JH#4>68BOM1A.0T5T#"*=QYE#H(<0F:5)G,'
MR&7$<C/E'3LY1Z++1`O[B_`>;-C^W_#X]P'BRZY?O2.Q.+K&K4Z%#+3LXG`1
M,->DI*7.R0$IRL&2SY$BBGT%,J4/KY*G1N[6RR9FJNNS[5/2&B=0%+4$C<2F
M0F=-?\(X7J'05ERL*::@;6Z^*A"MJ1,R"5ZR'E('ICS'MN=>,ZZUZ19,H^P.
M);UANXR>R]RL\=6<@0BT#,/:\]Q]C&/:339HL8QE(]P^C'*)%/H%1`X?5S*Z
MT7FU7O*6:JT5#513)H4)*FU!20H..DB8YR(/I$>73FW5UMLCK%>TMEXU*B$J
M$C(I1K+LF"/.#$=7N0L>;][?9EQ7@G7O5+/^1\"X2@CW24ME/I,@_JUVR[<V
MAF_5B^(H1"2;42HE*T35`.B;V3?)_P!CKSKNBU=B>.T%1>+Q74C-TJ5^&E*U
M@+0TC4Z<1O7J1V(28T/46EOMWJF:&WTS[E$T"HJ2DE)6J7/F$C33694)<(R'
MAWVI.M\IBC&\GFC.>PD1EN3I-:D<E0]0?XX;5>%NS^):N['"P*<E1)A^:,AY
M191JDHJY5.J5+SB(>;H&+7]?K\BN>1;J6B50)=4&RM+A44`D)4J3B1,B1,@)
M$RCUI.EEL72MKK'Z@51;25A)0$A1&H`*"9`Z:F,/[K^UZQCBK63*61]3K_L1
MEW.U,BX^<I^,+$>B2[6\MVTU'$L4$P95^FU^45GCUQ5TLP*FX_..T2)B0P'\
M-EC77>XUU[8H\@9HF+4XHI6XD.`MS2=JB5.*&T*ENT]69Y1BWCIC1TUN<J+6
MY4.UR`"E"MI"A,;A)*`9[9RESY&-MO;9U_=C7NCYFU1VFUMS9B>@1\H7+N%[
M=D&H/H>O-GT^LWBLBT%&16,HFBX=R!6DRR;]0`YUI$_T_3SG6EW&+M74U_L%
M;3/U2T>$\A"PI7=U;7(?:S0HG7NH[=-MTY:O5!3.VRZ4[[3"3O;*TR`G(*3Z
M3W@/^EPTG$?`]OW>%MWW4,^+ZHYO2PF3N4RN3392/2GH4L,>*YE?S*=S&8\_
MI?H^>(4*Y!QT\OHB!N2!49?C"^D7T.FNIOI0V5+7A;QO\0-)&S;QW3$I1R2,
M>O:<[^D#2O>Y?27B;]IV[-\YSX2EK/A+G/2+`GN.-?\`.&R.AE2H&`<4W?,-
MW:;(XZLSJJT&&6G9MO7XVIY$:/YE5D@8IRQ[1U(MTU%/H*=8@?7R)>C5WMEE
MS!5;=GVJ>E]R=3N6H)3N4IL@3/,R/P1WO42WUMRL**>@:6Z^*A"MJ1,R"5S,
MO2/ACX?;?Z^YUUMT7O\`0=@<4WK#MR?[,7VT1]5R!#+P4PZKTE0\7L&<VW9+
MF,)X]V]B7"15`\#';G#^SSZZSW>UWO+FJRT/M5%**%M!4VH*3N"W3*8Y@$?#
M#IW;ZVVV)=/7M+9>-2M0"A(R*4:R\X(]$1(]_P"[.^<I[9V#VYTHP[>,D?KL
M7%QE^IXHBU7MCIF7JVFV<,LG-&C$S==FRN\>W34<.4A$R$XP,N<WJ/2CR0ND
MG46U-6->-Y14--(IP?"4Z0$K95.;1)XE!]4'BA6T:($<GGN(5KER3=K*TMQ3
MWY1+8.X."4EZ<-W,]HGSB>#7#/F\^5^T_E^=R9A'+^(]^,9Z]9EI\+$6:E.8
MVQ9(R_5L732V+,C4>,<@9M-NKO,_+U%&Y!`J<X#AN!`2!(311>+5BU!GS#%%
M5,5&)O5C*U*2N:6V5NI\5M9&H\-.X3YHD>,X[JWUU[JL6=<J&'6KZW3N)`*2
M"MP(.Q20>)493^VG+243)\CN.NCY73%D^^'^-9M7GPCI%\U!TW2<`V>MA$6[
MQN"I#^BZ;F,(D4+T.01\!#GDZPP_M\9"5[5!2=P!DI.J5"?!0.H(U'*/E24J
MEN`,C,3[>WS^6*N?NP__`(@U^_BGAOV59/Y/70#^*ZK]GJ^=9B-.JG^@L?I:
M?FW(J']O;03/_<<S/&8+Q'\;%4J$?)6?*6191-\ZH>)8.3*W8O;&\9E629/K
MG/LHLC:-CDC$=RAVQ`4.FU;JKHV'S++;-A5`;M7`*KEIV--ID''2)D))XAM)
M5-2C,)GH"2`8CQZPU^15@HJ6::=)W.+/JM@Z$]A61HD#4RUT$XZ;6F>FF#=$
M\%UG`F!JV6'KD,0'L_/O@1<6N_VQPBBG,76Z2R:21Y6P2QT0ZCT*@V0*FW;I
MI-TDTRTAR3)+KE5U<N]V<WU"]`!ZJ$CU4(')*>7,\2223%E;/9Z&QT*:"@3M
M:3Q)]92N:E'F3]C@)``1M9S0QM(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<
M0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0B$3OA:'9A[B6)]8L!8C,QAR!LS%
MVG(M]F/*I#8XQY'8YO[&:M+IB"Z#J:?@YDT&S"/0$#NWJZ93G11!59.3>F&6
M6_#;E6W>O"EGW%2&VT\7'"XV4IGP2)`E2CP`,@3('C,UL57D-'36^EDD>\A2
MUG@A`0L$RYG4`#M\D2#Z6:68,T,P77,#8'KH1D%%@$A9;+(%07MV0[<X123E
MKI=)9))(TE-R9D@`I0`K=HW*FW;D3023(7D,DR2Z95=5W:[+W/KT"1HE"1P0
M@<DCX29DDDDQOK-9J&QT*:"@3M;'$^TI7-2CS)^QP&D;:<T,;6'$(<0AQ"'$
M(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0A
MQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$(<0AQ"'$
+(<0AQ"'$(<0C_]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
