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<SEC-DOCUMENT>0001292814-10-002153.txt : 20100623
<SEC-HEADER>0001292814-10-002153.hdr.sgml : 20100623
<ACCEPTANCE-DATETIME>20100623075001
ACCESSION NUMBER:		0001292814-10-002153
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100630
FILED AS OF DATE:		20100623
DATE AS OF CHANGE:		20100623

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO-SABESP
		CENTRAL INDEX KEY:			0001170858
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31317
		FILM NUMBER:		10911715

	BUSINESS ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
		BUSINESS PHONE:		011-55-11-3388-8000

	MAIL ADDRESS:	
		STREET 1:		RUA COSTA CARVALHO, 300
		STREET 2:		SAO PAULO
		CITY:			SP
		STATE:			D5
		ZIP:			05429-900
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>sbs20100623_6k.htm
<DESCRIPTION>MATERIAL FACT
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>Washington, DC 20549 </B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>FORM 6-K</B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>REPORT OF FOREIGN ISSUER </B><BR>
<B>PURSUANT TO RULE 13a-16 OR 15d-16 OF THE</B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>SECURITIES EXCHANGE ACT OF 1934</B></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<P></P>
<DIV align=center>
<DIV><FONT face="Times New Roman" color=#000000 size=2><B>For&nbsp;June 23, 2010</B></FONT></DIV>
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<FONT face="Times New Roman" color=#000000 size=2><B>(Commission File No. 1-31317) </B></FONT></DIV>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2><I>(Exact name of registrant as specified in its charter) </I></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=center></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>Basic Sanitation Company of the State of Sao Paulo - SABESP </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2><I>(Translation of Registrant's name into English) </I></FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=2><B>Rua Costa Carvalho, 300 <BR>
S&#227;o Paulo, S.P., 05429-900 <BR>
Federative Republic of Brazil </B></FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2><I>(Address of Registrant's principal executive offices) </I></FONT></DIV><BR>
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<BR>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>Indicate by check mark whether the registrant files or will file <BR>
annual reports under cover Form 20-F or Form 40-F. <BR>
<BR>
Form 20-F ___X___ Form 40-F ______</FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>Indicate by check mark if the registrant is submitting the Form 6-K <BR>
in paper as permitted by Regulation S-T Rule 101(b)(1)__.</FONT></DIV>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>Indicate by check mark if the registrant is submitting the Form 6-K <BR>
in paper as permitted by Regulation S-T Rule 101(b)(7)__.</FONT></DIV>
<P></P>
<P align=center><FONT face="'Times New Roman, Times, Serif'" size=2>Indicate by check mark whether the registrant by furnishing the <BR>
information contained in this Form is also thereby furnishing the <BR>
information to the Commission pursuant to Rule 12g3-2(b) under <BR>
the Securities Exchange Act of 1934. <BR>
<BR>
Yes ______ No ___X___</FONT></P>
<P></P>
<P></P>
<DIV align=center><FONT face="Times New Roman" color=#000000 size=2>If "Yes" is marked, indicated below the file number assigned to the<BR>
registrant in connection with Rule 12g3-2(b):</FONT>
<P></P>
</DIV>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif>COMPANHIA DE SANEAMENTO B&#193;SICO </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=Arial,sans-serif>DO ESTADO DE S&#195;O PAULO - SABESP</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>Publicly Held Company</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>Corporate Taxpayers&#146; Id. </FONT><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=Arial,sans-serif>(CNPJ): 43.776.517/0001-80</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 12pt" face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Arial,sans-serif>MATERIAL FACT</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Helvetica,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Helvetica,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP (&#147;Company&#148; or &#147;SABESP&#148;), pursuant to CVM Instruction 358 of January 3, 2002, hereby informs the public that, on June 22<SUP>nd</SUP>, 2010, its Board of Directors authorized the Executive Board to execute a &#147;Public Water Supply and Sewage Services Contract&#148; between the Company, the State of S&#227;o Paulo (&#147;State&#148;) and the Municipality of S&#227;o Paulo (&#147;Municipality&#148;) to assure the Company the right to provide public water supply and sewage services in the State Capital for a period of 30 (thirty) years.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>In compliance with the best corporate governance practices, the Company has shown in its financial statements (Explanatory Notes) the situation of the &#147;Agreements with the Municipality of S&#227;o Paulo&#148;. </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The key aspects of the Contract, which is expected to be signed in the next few days by the State, the Municipality and the Company, as well as the Agreement to be signed between the State and the Municipality with the intermediation and consent of SABESP and the S&#227;o Paulo State Sanitation and Energy Regulatory Agency (&#147;ARSESP&#148;), are:</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The State and the Municipality assign SABESP the right to provide sanitation services to the Capital of the State of S&#227;o Paulo, which involves the obligation to provide the services and the right to be remunerated through the receipt of tariff revenues;</FONT></P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The State and the Municipality determine ARSESP as the entity responsible for the regulatory functions, including tariffs, control and inspection of services; </FONT></P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>&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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The valuation&nbsp; was based on the discounted cash flow method, which took into account the economic and financial sustainability of SABESP&#146;s operations in the Metropolitan Region of S&#227;o Paulo;</FONT></P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>4.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The cash flow included all operating costs, taxes, investments and the remuneration for the opportunity cost of SABESP&#146;s investors and creditors;</FONT></P>
<P style="MARGIN: 0in 0in 0in 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>5.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The investments foreseen in the Contract correspond to the minimum amount of 13% of gross revenue obtained from the provision of services in the Municipality of S&#227;o Paulo, net of Cofins and Pasep taxes, and are already considered in the Investment Plan announced by the Company;</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>6.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The transfer of funds to the Municipal Environmental Sanitation and Infrastructure Fund for use in actions relating to sanitation services in the State Capital, constitutes a fee to be recovered in the tariff, as determined in the Contract. This amount corresponds to 7.5% (seven point five percent) of gross revenue from the provision of services in the Municipality of S&#227;o Paulo, net of Cofins and Pasep taxes; </FONT></P>
<P style="MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>7.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The opportunity cost of SABESP&#146;s investors and creditors was established using the weighted average cost of capital (WACC) methodology. This figure was used as the cash flow discount rate; and</FONT></P>
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<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 12pt" face=Cambria,serif></FONT>&nbsp;</P>
</DIV>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 21.3pt; TEXT-INDENT: -0.25in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>8.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The Contract envisages the remuneration of the net assets in operation, calculated preferably through asset valuation or by the monetarily updated book value, to be established by ARSESP. The Contract also foresees the remuneration of the investments to be made by SABESP, such that there will be no residual value at the end of the Contract period.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>The establishment of a formal contract with the Municipality of S&#227;o Paulo, which represents approximately 56% of the Company&#146;s total revenue, guarantees legal and asset security to SABESP, adequate return to shareholders and quality services supply to its clients.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>SABESP will publish the relevant documents in its website (www.sabesp.com.br) after the Contract and the Agreement are executed.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=Arial,sans-serif>S&#227;o Paulo, June 22, 2010.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=PT-BR style="FONT-SIZE: 9pt" face=Arial,sans-serif>Rui de Britto &#193;lvares Affonso </FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face=Arial,sans-serif>Chief Financial Officer and Investor Relations Officer</FONT></P>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B><U>SIGNATURE </U></B></FONT><FONT size=1>&nbsp;</FONT></DIV>
<DIV><FONT size=1></FONT>&nbsp;</DIV>
<DIV align=justify><FONT face="Times New Roman" color=#000000 size=3>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the city S&#227;o Paulo, Brazil. </FONT></DIV>
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<DIV align=justify><FONT face="Times New Roman" color=#000000 size=3>Date:&nbsp;June 23, 2010</FONT></DIV>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=3><B>Companhia de Saneamento B&#225;sico do Estado de S&#227;o Paulo - SABESP </B></FONT></DIV></TD></TR>
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     <TD vAlign=top align=left><FONT face="Times New Roman" color=#000000 size=2>By:</FONT></TD>
     <TD vAlign=bottom align=left>&nbsp; /s/ Rui de Britto &#193;lvares Affonso<BR>
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<DIV align=left><FONT face="Times New Roman" color=#000000 size=2>Name: Rui de Britto &#193;lvares Affonso </FONT></DIV>
<DIV align=left><FONT face="Times New Roman" color=#000000 size=2>Title: Chief Financial Officer and Investor Relations Officer </FONT></DIV></TD>
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<DIV align=center><FONT face="Times New Roman" color=#000000 size=3><B>FORWARD-LOOKING STATEMENTS </B></FONT></DIV>
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<P align=justify><FONT face="'Times New Roman, Times, Serif'" size=2>This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends o
r results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations. </FONT></P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
