-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 TFiSijot77lAJcm2ImbymkTZtwtlqBYC9/XvQCZjkr0BPdsbIkRuGiIqV43rq0u+
 kQazFiyrQzaNnVftPV9kHQ==

<SEC-DOCUMENT>0001193125-07-178277.txt : 20070810
<SEC-HEADER>0001193125-07-178277.hdr.sgml : 20070810
<ACCEPTANCE-DATETIME>20070810080111
ACCESSION NUMBER:		0001193125-07-178277
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070810
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070810
DATE AS OF CHANGE:		20070810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WATSCO INC
		CENTRAL INDEX KEY:			0000105016
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-HARDWARE & PLUMBING & HEATING EQUIPMENT & SUPPLIES [5070]
		IRS NUMBER:				590778222
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05581
		FILM NUMBER:		071042860

	BUSINESS ADDRESS:	
		STREET 1:		2665 S BAYSHORE DR
		STREET 2:		STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
		BUSINESS PHONE:		3058580828

	MAIL ADDRESS:	
		STREET 1:		2665 SOUTH BAYSHORE DR, STE 901
		CITY:			COCONUT GROVE
		STATE:			FL
		ZIP:			33133
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

<HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left"> <P STYLE="margin-top:3px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="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><HR WIDTH="17%" SIZE="1" NOSHADE
COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="5"><B>FORM 8-K </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE
COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Current Report </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman"
SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of the </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="3"><B>Securities Exchange Act of 1934 </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Date of Report (Date of Earliest Event Reported) <U></U>August&nbsp;10, 2007 </B></FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center">

<IMG SRC="g88924image001.jpg" ALT="LOGO"> </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="6"><B>WATSCO, INC. </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>(Exact Name of Registrant as Specified in Its Charter) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P
STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Florida </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(State or Other
Jurisdiction of Incorporation) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>1-5581</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>59-0778222</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Commission File Number)</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(IRS Employer Identification No.)</B></FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>2665 South Bayshore Drive, Suite 901 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px"
ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>Coconut Grove, Florida 33133 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Address of Principal Executive Offices,
Including Zip Code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>(305) 714-4100 </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="1"><B>(Registrant&#146;s Telephone Number, Including Area Code) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>N/A </B></FONT></P> <P
STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="1"><B>(Former Name or Former Address, if Changed Since Last Report) </B></FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR
WIDTH="17%" SIZE="1" NOSHADE COLOR="#000000"> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions (see General Instruction A.2. below): </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d- 2(b)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"></FONT><FONT FACE="WINGDINGS" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="Times New Roman" SIZE="2"></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></TD></TR></TABLE> <P
STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><HR SIZE="3" NOSHADE COLOR="#000000" ALIGN="left">

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


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;7.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Regulation FD Disclosure </B></FONT></TD></TR></TABLE> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">On August&nbsp;10, 2007, the Company
issued a press release announcing the successful completion of the acquisition of ACR Group, Inc. A copy of the Company&#146;s press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference. </FONT></P> <P
STYLE="font-size:18px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2"><B>Item&nbsp;9.01.</B></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2"><B>Financial Statements and Exhibits </B></FONT></TD></TR></TABLE> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT FACE="Times New Roman" SIZE="2">(c)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Exhibits </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="95%"></TD></TR>
<TR>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="1"><B>Exhibit<BR>Number</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">99.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Press release dated August 10, 2007 issued by Watsco, Inc.</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">The information in this Form 8-K and the Exhibit attached hereto shall be deemed &#147;furnished&#148; and not
deemed &#147;filed&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any Company filing under the
Securities Act of 1933, as amended. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This document contains or incorporates by reference certain &#147;forward-looking statements&#148; within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements are based on management&#146;s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations
due to changes in economic, business, competitive market, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within the Company&#146;s industry, seasonal nature of sales of the
Company&#146;s products, insurance coverage risks and final GAAP adjustments. Forward-looking statements speak only as of the date the statement was made. The Company assumes no obligation to update forward-looking information to reflect actual
results, changes in assumptions or changes in other factors affecting forward-looking information. Detailed information about these factors and additional important factors can be found in the documents that the Company files from time to time with
the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. </FONT></P>

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

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>SIGNATURES </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
FACE="Times New Roman" SIZE="2">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. </FONT></P> <P
STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">

<TR>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>
<TR>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" COLSPAN="3"><FONT FACE="Times New Roman" SIZE="2"><B>WATSCO, INC.</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Dated: August&nbsp;10, 2007</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">By:</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="2">/s/ Ana M. Menendez</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Ana M. Menendez,</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT FACE="Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR>
</TABLE>

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

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2">Exhibit Index </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" ALIGN="center">

<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR>
<TD VALIGN="bottom"> <P STYLE="margin-right:0px;margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT FACE="Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom" STYLE="border-bottom:1px solid #000000"> <P STYLE="margin-top:0px;margin-bottom:1px"><FONT FACE="Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em"><FONT FACE="Times New Roman" SIZE="2">99.1</FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT FACE="Times New Roman" SIZE="2">Press release dated August 10, 2007 issued by Watsco, Inc.</FONT></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>dex991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML><HEAD>
<TITLE>Press release</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="Times New Roman" SIZE="2"><B>Exhibit 99.1 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
FACE="Times New Roman" SIZE="2"><B>Watsco Announces Successful Completion </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT FACE="Times New Roman" SIZE="2"><B>of the Acquisition of ACR Group, Inc. </B></FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">COCONUT GROVE, FLORIDA, August&nbsp;10, 2007 &#150; Watsco, Inc. (NYSE:WSO) today announced the successful completion of the acquisition of ACR Group, Inc. (AMEX: BRR)
through a cash tender offer and a subsequent short-form merger of Coconut Grove Holdings, Inc., a wholly-owned subsidiary of Watsco, with and into ACR. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">As
a result of the merger, all outstanding shares of ACR common stock not validly tendered and accepted for payment in the tender offer or purchased pursuant to Sale and Support Agreements with ACR&#146;s executive officers and certain of their
respective affiliates were converted into the right to receive $6.75 per share (the same price offered in the tender offer) in cash, without interest. The Depositary for the tender offer and the Disbursing Agent for the merger will mail to
stockholders that have not yet validly tendered their shares materials necessary to exchange their ACR stock certificates for such payment. Effective with the merger, Watsco will delist ACR shares from the American Stock Exchange. </FONT></P> <P
STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">Watsco is the largest independent distributor of air conditioning, heating and refrigeration equipment and related parts and supplies in the HVAC industry and operates
440 locations serving over 40,000 customers in 34 states. The Company&#146;s goal is to build a national network of locations that provide the finest service and product availability for HVAC contractors, assisting and supporting them as they serve
the country&#146;s homeowners and businesses. Additional information about Watsco may be found on the Internet at http://www.watsco.com. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT FACE="Times New Roman" SIZE="2">This document
includes certain &#147;forward-looking statements&#148; within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management&#146;s current expectations and are subject to uncertainty and changes in
circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive
conditions within Watsco&#146;s industry, seasonal nature of sales of Watsco&#146;s products, insurance coverage risks and final GAAP adjustments. Forward-looking statements speak only as of the date the statement was made. Watsco assumes no
obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Detailed information about these factors and additional important factors can be
found in the documents that Watsco files from time to time with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. </FONT></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g88924image001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g88924image001.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@`)P"N`P$1``(1`0,1`?_$`+$```("`P`#`0``````
M``````D*``@%!PL!!`8#`0`"`P$!`0$`````````````!@0%!P,"`0@0```&
M`@$#`@4"`P8'``````$"`P0%!@<("0`1$A,*(3$B%!9!%5$C&'&1,D(E%_!A
M@<$T)QH1``$"!0(#`PD%!00+``````$"`P`1(00%,09!41)A<1/P@9&AL2(R
M%`?10M(C%<'A\7*28J+"%E*"XE-SD\,D5"4V_]H`#`,!``(1`Q$`/P!_#H@B
M=$$3H@B=$$3H@B=$$3H@B=$$3H@B=$$4%A]]L;V7D6F>/2HMT+!>*-K=*9]R
MM8FSU0$:&\6MU(K]+Q^LU!J=%Y-3\+9G$LY_GE,Q;$;%,01<?1)<P]PWC4Y=
M\%+*U2!]OFG[(B^/;)N39H4"X!I/E%^0'O\`W]NHP2$B2?AB0@DBO.//1'J)
MT01.B")T01.B")T01.B")T01.B")T00G/O+[CG<K07=^_P"LV8]0,-*4*CW6
M%D65FBK+D`UHN^!IY\V<QM[J@KB2#<SSFNG<!Z`D%%.59K-3?$@CUH>(V6QG
M,4J^L7'3<)35-)3Y:3A)RN[',5ET6%PA(MW%2"I&8[SU2EI67&&V<69-I69L
M=4C*^-[#'VO'^1JM"W2FV2,5(LQF*Y8&*4C&/$C)G,!3F;K@!R"/DFH!B&`#
M%$.L_?:<M+E=I=#I>2J4NT0ZI6TXPFX;,VR)F*J<C&\%*X]M2,J[,7/["1?5
M:+_:,<4]TN+9;(>4ITB[2E4QGX*%7$CZ0+Z[PZ?UH1S=PM\B=3<1B[S+9=NR
M9'Y"A[TM1SKP^V*W(Y!&/L%WSA`;2:3Y>58U)Q$<C4+R8Z>U7-[MO7*[E^O2
M+VBYZH%;6=&CZ7D.+,*I31K>1<NI0M;M$*JWDHY1<QA.BN8@&,9(XA(W!AKK
M!9`VCR3T&J2>7?QKQ@Q.29RUF+E@S!\A29EW3UG!,Y>7C(")DYV;D6,3#0K!
MY+2\K(.$VD?%Q4:W4>2,B_=KG(BU9,6:)U55#B!"$((B(`'5(@J=6EEH3>40
M!Z=(L"'$`K=("`)GNE">^,O<G[.[8;ZM=5=-]8,,6W%MDRE)P-3RGD2>OS&1
M;89J;DRMSSC=4859*(@*W'5IBXE$R]Q**2S5$Q_55ZTF^V.SBL`,MDG'$W*A
M,)!`%>],_(<X3V-TJO<R<;9)264F2E$$F?($*`]5)'D8V!NQ[LS6[`]\FL?Z
MP87D=G25F5D(*;R?,WV/Q9BQ[*1KD&RH463-"VN4NT8L8I_%Z5)FW.)0%(52
MCY#\Q7TWRETR'K]Q#*5"8G(4(F`:RGSE'>[W9:-.%JU277`3,)!4::F0_;*F
ML40/[S:Z"<2):.XS\A`#%`^RSGN`&#N'<0QN`&^`_,.KAOZ6*4CW[UD.3I(B
M4OMB$C>#RD>(JS?"02/@5%M-6_=\X!R#96\#M#K;:<)0+QPS9HY'QC=FF:*Y
M'N7CH&QEK/!!`U*?A8EF!O46<M_W`2)E$WI_IU69#Z99>SMU7+#C;R$RHFI[
MZ3T[N,?;?>UJY=)M;AIQE9!/OCITEIU2!GPK/U`GRWIY)L):=Z(6_=YE;Z9D
M&JR-38'P&2&L+!U"YFOUS;*IXZKU;EVSDZ,BSE'8_=.U$!,=M&M'2I@`4C`"
M5C<1=Y')#'('2[U2,Z2YS]@YDB&N^OF;>P-XT9CI)Y\->=`"3W1SS>-7ESD]
M%]X,V[S9_JLWL+=]@*+=Z_<OL+="T^0?7.\7JJ7%S.C(S+%ZT)%,$:N+-LS2
M(4J2`D`@%*GV'=MT[5&0VXUA[9;;-HV1(J^+0B75,>R,8P6Z%C,/WSS3KKZ)
MR"9D2.I(`5SK37C#?6"/<EX=R!JMF?<[,^O%SP-@C'5QK^*,:NOSB`R%<-B,
MR2K1:5F:!BV`91==:._PV#(DZE9!1X+9F14_J``HG`<DN-DW[-\C$6;B7[D(
M22I(FD)(I4$UX=I!Y&--M]R-+L_G[I!:9(HE0*53[>H`R.HD-".<5I=^\/TL
M;*"E_31L&"I`[J).IC&K15/N`&(!TS6)0Q?(H]^KA/TTR9<\-Q]I"@F9G+\4
M0D[SM5HZVV7%)G0CJ(/GZ)1A'/O']/DNXM]7LUK!^GK77&K;M\/\P_N*P``#
M_;UU/TRO@)FZ8\O]:/0W<"9"U>]"OPP:GBHY4(KE4H^3\J437S(&(\7X_L\5
M2X>YW>=@I9E?[6LT7?V.*JY8),4UD:>U.R!XX%0Q/6>E2`/--3LF;BPKF"6E
MKQ4..$3IRG+GSIW@\H8,3?.Y%*EN-EL`3$Z'SS[*]Q!XQJ/D1Y\])>/.Y/,0
MS[BSYOSQ&H$5G,6XE)&O@I:JR"+IJSR);7[U&'J,F[9K%629"5R],F8IS(D(
M8##-P6U,EG5#P$]#1^\=/+SQ7YG<N/PJ";E0+@^Z*'R\T"><^\2P"D`^EICE
M<XCW\2K95H:`]P^?E_II^W;IP5]*,B"$"Z8ZSP\C"PCZCV;G5TVSU!36O]V+
M$Z6^YFBMZ=GL6:O8<T7R6K9LC3AD)6PJY7J3^*H--C4`>VB_V-"/KZBQ(.ML
M/B</),5W"J*!#`HL0!IL_L*[V_9N75R^THH22`"*\AKQ-(ML5NLY5X,H94@J
M(`)"M29<NPG@)`UG2+C[_P#N"M$=![K+8BDY.T9ZS=`J_:V/'6&6\9+-:5(%
M50(M$WZY/I!O`UF<225$XL`%R\)V\5$TS#VZJ\'L_,YQ*7&4=#"M%*T\O/%E
ME=R8_%(/BJ"G@/A&O[?9+M@8R_O#-8DA$":AYM,/<0`%;S0$##V'M_@\E#=_
M[^FD_2O*)HJX:ZAY<X61]1;10F&%GT_9&S<+^[?TCO5Q;0&6\)YLPG6G[EDS
M;WT3UW(D)%JNW)6ZCRSL*ZY:3,3#,RG`ZKE!!X*9>XBGV#OU$OOIGFK:W+["
MD.A.LOW3B?8;[Q=VLMO`MKG0&D_3+]\,;%VNUQ/@`^UA,X8Q/K<G7/RY7-86
MN,'':5>%VFQ*]-8@6%H!QD%`9^@(@Y^^,#?T_6$"#GYLKP7/R*D'YPF03*L]
M>?('C*&]-]:&U-WU?D#CZ.R?'E.`5>Y3XS2;>ZK$V<QA7SOMA=3HF6LGVT4R
M!>8R)A,QB2%[IHE12%9])54&_P"^1(*")""B[1*7R==P</I]N*XPN33:/*'R
MCRPDUH)Z&O/3T10;MPR,OCEK0$B[0F8/:.X3'H@:_M6>3(.\OQK9;L0"W,C.
M9#U2F).3(;NT+Y2U_P`.L55U#&,FW34//0J2?9,C8KY(`[$3+U=?47;W3<)S
M-LD%E=5=/M^WL[HIMC9PW-LYC;Q4GVC(SII3C7O[>^!G<[/(!:N4+>:I:PZX
MC*7;#V(;\.',,5VMG573S-G:QRJ57L=Y:()+BT>LU'O^D0JR@=DH]%RY[E(X
M/V8-BV-O@<4YGLFF75I+XI<-92EWZSA;W9D;G.9%.V\3/I3\1.@EQI,RXSEQ
M`C4O$!NE?.(;D<L6+]BV$O2\;6RSCKYM73Y)T9)M0[#'316=7R6N05@8.CT&
M;7`Z[I,#?<5Q^LHD<Q?3[V6\,;:[MPB<ICRDW*&BH'^S.9!E.IX`=AG!MJZN
M-MWXQ%\3TEP`2T,Z<9?Q!$,2^Y^Y0FV%\),=$,+61`V2-BJLC9\QV.%DB&&E
MX`66$4(<KYF[34:/\NK-%$2G`Y2?L;9T(_\`D)FZ0/IGMHWER<G?](9MU*UY
MCS<.%=>Z'/>F>-C:BRM@I5X\`$RTKSX^H\.<"8Q=J'9../@7V9WEM39[5ME]
M[H#'N$L9I+,W$;8<6Z[9-M\:Q/',^ZC5Y"SF4JP@]E79TC!XQYF"0AY)'Z8[
M_*'=>\F<,23BFE2*><J:"E)Z3U[HH,=C4[=VT]DWP/U!04KJ%2-":GE(B8X<
M^HQ>;VJW'U@3(.$,U;?YDQ72,HV9_DY[A/&+6_UV#M\'3JG2(.&D;(^B(2;9
M/F+:;G)V;!NH[%/UP:L4TR&*4QP-6_4O+W:,FG&63BFVVT`4)&E`*'D/9$[9
M.,M!CSD;KI6I:BJM?BK.1Y\.&O9#;Q-0-3`+V_I;US+V[_X<(XS*'<?CY=OQ
M<?F(]9H<A?J5/QWS*GQ*_%.'Q5O9R`0VUX9$]![)0M_[F'CJU7CM#I[;;'>)
M*)BC,6"+3CQHWG,;UF&I#:WTZ\WF#ITS6K5%UN.81\Y]FXG4WS!=8@K-%D1`
MI_$YBB^[`SF5:SJ&4N+6VIM0*5J)$B1,\83MWX:T>Q#CMLAM+Z5!4P):`Z2'
M/TB<:_\`;M/X78CATV2P]F2KU/)E9UZRCF:+QI$WRNQEO9U)C/XHC[W'#%L[
M`UD&C!:'FK;)&9*-RD4;).3$()0$>_3>K*L1NM%Q9GPUK*2>FE0H3[P9BG*D
M<=J/G)[95\W[Q2@U->!$_5/OK`7O:KX_H>3N0BZU_)%(IV18`NH=SE4H.^5:
M#MT2C*-[[BILA(H1T^QD6B#])NX53*N4@*`FJ<@#XG,`M7U+>N6L.V]UJ0"H
M?"3W]G*%O8S33F5O&UMH5)2M0"*'N[8)%[N;&1,?X\T';X[I<)1\+Q=SSQ'N
M(BE5F.KE,C,A62#J$C$J+Q$$S91*,M*PL;)G3_E@LY]);Q$1`>J'Z6Y%IB^<
M^<45K6D2)D5=FIT$^<7V^+=P6;:K5OI93+J`D$]LI<^[]VE=!N83A)UVT_P'
MAG.&AUCMN9*)16\1DNV#K=A+*7Y9<Q>NW<]94;S9[&QFY="<?.3.$R.4DU&B
M9RM^WBD41GYW:>\+[+NW5N^GY59)2.I8D*2$@DCOK4QYQ6Y-KM6"$7'2AP4/
M4!,^N+B$Y^^`9$Z21..RSI)^H0OJ_P!&&MO@B!SAY+')^8&5$B??R'L43"`?
M`!'X=4[NR-YH;4X7]$DT6YP'\L6"=T[1G)"FROA[HUX5@TN%.2W0Z[Z);+[#
M:(R5%)5]:L79+R19,25VD,,82]-M$=49ZU1867'";"#"-+:'\7Y$>D34;OO%
M3Q64,0P%3[C"99G-VUGE^I0=4@=1)-">9KI.7;6&*WRK#^+=?LP`I*%&0E.@
M[)CA_"$I.!32JD\I._N1[+MT]E<C5_']1?;$Y)@)%^[,.8LCVV\,F#2.N<@*
MOW[VIA(/'3IZT*8@NTTD&_F"/F4=<WM?O;5PMM:XV3:5HH1\0UG.FNLN&A[(
MR_;%E;Y_*OY"^ZG/S#TI-0`F4I3)E.G;KQ,X?L:<5O&NR311;Z):J)D;I)I)
M_P#I*B'$I$B^)"^:L,HH?L`?$3"(B/Q'N/6,G-992O%5<NE9X]4:G^CXOPPE
M+"`CA2OG_C&B-Q\>:Z<9VE.XFVFK6MF$<0Y8H.OEW&OVC'6-JG5)D9%\BBS@
MB/G\1',G+F+865RT>J-S'\%!;!W`1`.I%FY<YS*VUI?O.N-K>2#,DS!.FL>'
M&6["S==MVT)<2@D2[!Z82[]O5QFXSY*]C,UY3VE=2N0<;:_!4;79ZH^EGY76
M9LJY,E;+)I*Y"F2F%_)UTJ5;=OY)$JR:TD[<)E4/Z(J%-J^_=P7>W<;;X?&`
M--$2F*'AR],9QL[&6^:??S5UUJ=*I!)E(<I>L=@AZEGQ+<8K1ND@CH5JH5-)
M,J9`-A>E+F`@!V#^:O&*+&'M^HF$1ZR56X<V5$FZ?G_,8T5O"8L('5;MA4JR
M$"/YH.#?1ZWZ99ESA@;#5#UQS+KSC:W95@9G%4"SJ%;ND;38S]_FZ??*S"M4
MXZ9;R4)%N$F+T"$>1[M0JA3BF)R#?;:W;G6,LU;.O*<LG%>\%$DSX2[)$\:&
M4A6<4N?VUC7[%;K"`W<(30@2'#T'27/0TA6'3;8.:F^#+F'U@G'DC(U"AR>F
M^=Z$Q=.3+-J]^<;48JAKG&1K910P-$GTY6&4@8B8E2%VLJIV\U#".I93"6;6
M]L9=A/Y+J'5$2K,6[BQ335)A(L<G<.;0O;>9^9;6VB?"1>;3KKHJ1IH!'43<
M(H*MW"3A%-P@NDHFX07(19)=%4ITU$54E`,FHD=-02B4P"42CV$.W7YV'5,=
M!DK@>4;,0")*$QRCEQ<V^A]KXS=^Y:R8C-.4C#6;'LWF+7&VU1R\KZM(>RKE
M<+_C>(E8QP1W%/Z5*RRB30J:B9CPC]`H!X^H'7Z(V%F+7,8S]+R(2NX0)5J3
M+CYQ7U1B.]L9<[?R0R6.)#;I]X"O[I<_-S@O'M6>-`MGG)CDERY7Q-#51><Q
M[JO'231,S5]/"56+R)E](BYC+*_LQ3*0<0J)1**IWJR9O(B9@4_J1N-IL)V_
MCI!D&2NFNE)&7;KREVPS['P:F.K,W@)?=/545]ZOJ!X<3V1EO=:<<)(Z3JO)
M!C&``\9*A"8JV>C&$8F!$G)RJ,L<93?>@(&,9\0P5Z46.7Q*`,#'-V[]N?TT
MSHM[A>&O%`LNI,IFG*0@WU@2[;#+VDQ<(4%4II6OJ/.??0,_#EHQDCE?WLK3
MK,TQ9;UA["+*A7;8*YVYZ[FW4O4*.T:0>*\,_?R3A19T6T)U]&-*@"G9K`L7
M!O$P"4!;=Z7]KMC$_(6`2E]\SI0U,Y]W$_OA?V?:7&X,E^I9`J6VR"D3TTUG
MV3\I0[#[AC76>SSQ.9[@,?P[MS,X?-1LV1%8@F!3*/(7$\TD^L$5',&Z0&!*
M/IB[UPDDD3N(-@*0/D'61;.R:+#=#5R^?<"OB)D*UF2>V--W'CC>8)=HQ*9$
M@`)\)`2\I0O9[9_EMUQU:Q[?=-=GKY%XMB[CE,^2L+Y)G6[DE)=R-QA8V/M-
M.MD\W*X959T1_"-W,>Y=F2;.".E2J*)F2^I]^HVVKK)7*<U8H4M,JA.O,$<#
MW<JB<).Q\W8(MU8Z[/0M!E)5/A]V0!D>'#CYH<$5Y)^/MN416W8U>#Q,8HB7
M-5`5$!*(AV$J<[W#MV_AUE#>)RS\RRRYT@R,TF<_/*-#<R6,!E,&0[?L@+?N
M`MWM-LV<5&R6.,4;1X*R-?IE_AMW`TREY*JECLLN$9F2BR,A]A#QTBX>.@8L
M&:SA42E^A),1,(!\V[9>/R-GN!IRZ;4E!!%1+67MBCSM]87&(>0RI,^@UK+C
M_"*K>U9#[GCKY"&8"82&S-:2I!YBH8?N==:@0WB`%*/Q,4>W8/CV_7JX^I0(
MW&Q.FGM3%+L7_P":<D/NJ_Q0&#VM&7L8X9Y$)J7RWD.EXR@Y_4W(%<C9Z_V*
M*J4(YGDKAC::)$EF9QVRC$)!6,B'2Q$U%"F4(@<"@)@[=,7U-9>?P#092I9Z
MON@G@>0,4FQ'&F\Y>!Q24DJ5J0./;#TFR>3^+';3%%EP7L=GS43)>-K0D0']
M>G,Y8T*JQ?IE.6/G8*5:6M"4KUBBS*B9I(,ED'2`F'P.`&,`XQC[;-63J;ZS
M;?"I"7N*E0=T:==)QUXUX%PM)3RZA`9T>$SVV#LX@AEJB']<53)`3D%DP\!\
MNPD0(.4`[$2_R]^__7IS:W=OEH2"')?\)9BH_1MM$^&&V01QDFO?,1\'EKA*
M]NI7<5Y*F8K/U>I\O#T:U2T9<6F\2MOD:W(1L(^>,IMM4%KW)-K.M&NFY#EC
MA:KB][>B!!,<.I;&[]\./H;4VX4J4`1X2Q0F1J=.^/+^#VYX"U!+`/092".7
M8(7/X$ZS<\N;#[9ZYU-=VY:;*\<^UN.9AJT(HT2?R*49#+4"161-V3CE4;0]
M`B0JE'TONSI!X^0]W'>Z7[?&V&7O>@7*'44H%4/+70F$?9ZGG;R^L+=1-O)0
M3Q&A\W*L?>^W3WEQ)Q][O7-+9U^OC:F9FQ=_LK-W6:8/BLL;9%KMS9R4<WNK
M5)LN]AXAS(M'L>Y=*D(DR<`F=<Q4Q,8D;?EB[G<,U>6WO]*4D`5G[LC*4])G
MSB1CILZ\:Q>1N;"Z4E"T.*^(@4-1*<ITE.4^Z.BTEN+J.=--<=J-;P173(HB
MI_OCC("*D,`B!RC^4"`@8.PAV_0>L4:QE_X80EEY1')"C^R-3;R-F\BCK4QP
MZDT]=//`].67-6MN>N-;=G$-(V?USD[G;M?,@$K$0RS9C)W(2LM"18V9I%LF
M9;24[I_)'A_113+]1E#E`OQ$.KG`VM_:9JUN5V[X2A]!/Y:Y4/=$?(W5M\@\
M2M!`;/WAR[X4L]L!R`8&T_V`SIB;8"]Q^,JWM!`8M2HEPLADVM-:Y&I3^SH,
MZ[9YU3NUK)K%#VPX-G;PR+#[AN*2BI!,01T_ZGV#N7L[6ZMD*4H:A()(!'(5
MI3UQG7T]RK3'S%H^0C\TRF0`==)R[9>:<=!QMG'"R[5NX1S#BMTDLB15)PCD
M*HG0<$.7N59)5.8,F=(X?$!*(AV^0]8N;"^!EX+W]"OLC4S=6JCU)<1TG3WA
M]L"-YJ.1K5G7S078JLO<KT*\Y*S3BVZ87QWC*FW*!GK3-V/(U<D*^$H[90[F
M3<0U<KL:]7?NWKI-)#P0!(IQ553#J\VUA+Z[SC'4TZEI*IDE"@!*NLI<(I<_
ME+6TQ3JBMLJ(D/>'V^RO*$D=+,(V-GPH\SFP,BV!I4+`&DV#*M*N"&393$Y5
M]H\9VNV_M[H3]W!8S\IBT50`G8'*GI@/<I@#:\ID6U[VQF.ZD^XAT3F/_'=3
M+^]&:65BMO:5Y?D*`<4A4I&H#[:J4K()J1PK'4S'MV'O\O\`C_OU^:79^&>G
M6-L3.=-8$CS':RZ-[::T0.)-X]@\>ZP0*^0X>P8KR_=,B8]QO,PUUA4'"TU%
MTZ3R/+1,/+.;!2E)!F^9E%8P-%17\`.@0Y6#!7.4M;_Q<.AQRZZ2)(25'OD`
M3%1E&L8YCQ^IJ0EKJ'Q$`3GV^4X()KK!X0K6"\0U[6U]1Y'`<!0*]"X@?8XF
M8FQTA]18V.;,H-Y6K#!/'T1/,'#1N4XO$%EBN5#&4$YC&$1JKI=PY<N+NP1=
M*6HK!$B%$GJ!'`SG,18LAM+*$LF;02.GNE3U1Z6S]=P5;M?,PU79N1I$3@"R
M4*>@LM2F1Y^*JE*C:9*M3,I-_.V>;>1\97D&GKE42>JKH_;."IJ%.4Q2CUQ2
MY?-/M+QR2JZ#HD`"3ZJQQO$L+MW$79`MBBI-!V5@?'#)K'I%J7K-+XDTQV)Q
M5M*#._R\YFK,N.[U0KS*V.]S:1UX%E<5:%8[*Q@7,!2BLV;%BLN!OM41<%*`
MK'$;W<%SF;J\"\TAQ#X0``M)294X$`Q!PC>/:L$)Q:DJM>HU201ZNV"[.2H"
MFJ+L4/M014]8''CZ`I>FH+CUO5'TO2]`!\NX=O#R[]P[]4-..D7$*#[?<8'M
MPMDKA+W"J[X:RZIW!U-S+BZM<&[?:YL:S*3:JRA98)#'UTLMFKM:?)/_`",N
MG'(1X>KW`Y._?K2,)F=^63(\*UO'F94FVX1*5)$)(E*$',8K:;UP#=7%NV],
M4ZT]4_ZNH=U>R*+#P3<#XF$0YS\>$^KN!0V.T6'L'8``#>13"(]@_3M_9U>-
M[OWL%DKQ3I5VLK_8D^N.36`V@L$HN6I2_P!^I/J\0>SSQ8?%?#YP0T[$>RV.
MJQRS84N%SS'0ZS#.,P2>QNHDK;,)T6K7RMVJTN:G&P<I&PC!C=IIE&1\L]?I
M*&*T%-L14GJB"E5=[FW8]=MJ7CG4*2J@#:YE7W>$Z5X1-M</M1FP4#<,J8ZA
M,EV8T.LUJX:5[N,&PX3M,M/]+<)YNINH6Y=>W0JERRJUM-[NL'=L1W=K4+,A
M28.'1J[U?$SEY"QRRL"R2=F2>&!P9-8I@+X"`BM[KR.=R%RAW-,.LW8!Z0M"
MDDZ:`@'EH(N<):8UFU*,4ZV<?+[IZD\>))F*\^$`VVGX=>!',V7;ODJB\LFO
MNMD5;)N1DYW%-;V1U9M%$@+2O(.3SQZVA;;B$S7$'4R+A16-.Y6;M'!CIH$1
M(7TP:L5NG?EICT)5C7W@`/B97[92]?FA8OL-M!S(%3EVA-YQ"7!U2D*4,])5
MUE*9TBK[O@AX55%4C-N>S79N4"E\TWV4=-G2IB@7Q)Z9TLELBD((?'ZBG[CU
M<'>N]7)*&&6F@H&7)>I,N_MCB-M;76DFWO0&CS?,Y\=5CV"G/6,,IP,<.OJ*
MBE[@#5\$Q*;Q(O>=0E#D*(=OYJB69VY3D#_D4O\`;T'>6]1KAWU=S3@_PQX5
MMC;Q`#=ZT#.G_<$_]36,:/`MQ(BHW%I[@C48C@IB@'J6;5-43J^0=A2*CL(@
MJ503?+ZC#W^70G>>].L?^EN-?]!W\,<U;7PG09Y!KHX_G'3_`)DI>:&`>$#0
M#C;TKO&476MV]F&MW]F[O5$6TU8*;DS$4S.TO$T7+1JKN-@,<XWO%O?Q$#(V
M51F>3DW2JQEG`-DO-,A2IF2=Y9C<65<;.<M7K9L?"%H4B?=U`=ND-&VL;@K)
MI7Z0^TZO[W0M*C/MD3W#L[9F*J<EW%WPB[5;`WK(SWD<U_TUV"<6.3:9TK]?
MV"UX6CYR^HK%"=DKYC"]W!K(53(!2`4C[[56-]4WUN6YU!$XS-M[@WA86R6;
M6R<?L$_`H-*((U-0DSKQU]$5FX,?M.Y?;%^[;MW$N*TA4IG^V"!.<A*4YR`@
M7BG`YP\>H(DY^]4_1[F$"N+IJ6=41$.P?4GG1ND`!V[]@('QZ9$[RW3XBC;X
M59<IU=*'`>R<D^B*L[9VZM9+60`$M/&(]'OB/4'@9XA/DW]P'J25R)@%$PVO
M4T_B;N'@'B3/Y%#=A_@8![]=?\Z;S%582X(_D=_#`O:V!Z#U9!/3*LWS+S^_
M'ZJ\"W%H`+B?W!6IPHBGW4!>PZP"0I?XK";8WQ.B'P^DW8!Z^C?&[95P+_\`
M2[^&('^5MK%2>G(6W7.GY]?-[^O=&!'@3XO_`%A-_P#09I;]MY=T2C.:X>0%
M'OX_+:`J9C`81^0`'7)>]-P&JL&_U_RN:^B)*=JX<B2,F@#L=_VXV[A_@MX5
M:];(V6RYSE:\Y.K\>]0=2M-H6:=6L7%GV**H'_;96Q#EB^3K-HZ*7Q.9F9JN
M`"/IJ$'L(?#N_>CMLXBPP]PT#*9"'55[?=]%1$A&#VE:)`R5VRZ29I*G`0)<
MIJ(KQAKY#%_%0/'(]Q6SFM4`XR@K@5F4F&V5J=_3P+#\V9(D>O\`+R5P_9?R
M'_<X6I@E5)K]R_(@2-ZWW?@`90JZW"<L+E;;HRP5-*>GWSJ*)EITS,@)2G&@
1ENR^1"%*'RO3(&?"7\8__]D_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
