<SUBMISSION>
<ACCESSION-NUMBER>0001144204-05-022390
<TYPE>6-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20050725
<FILING-DATE>20050725
<DATE-OF-FILING-DATE-CHANGE>20050725
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>pSivida LTD
<CIK>0001314102
<ASSIGNED-SIC>3826
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>C3
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>6-K
<ACT>34
<FILE-NUMBER>000-51122
<FILM-NUMBER>05970391
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
<PHONE>61 8 9226 5099
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v022306.htm
<TEXT>
<html>
  <head>
    <title>
      Unassociated Document
</title><!-- Licensed to: vintage-->
<!-- Document Created using EDGARIZER HTML 3.0.0.26435 -->
<!-- Copyright 2005 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff">
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><a name="return"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION</strong></font></a></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
      D.C. 20549</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
      6-K</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">REPORT
      OF
      FOREIGN ISSUER</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to Rule 13a-16 or 15d-16 of</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">the
      Securities Exchange Act of 1934</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>For
      the month of July 2005</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Commission
      File Number 000-51122</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman"><strong>pSivida
      Limited</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Translation
      of registrant&#8217;s name into English) </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Level
      12
      BGC Centre</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28
      The
      Esplanade</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Perth
      WA
      6000</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
      of principal executive offices)</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Indicate
      by check mark whether the registrant files or will file annual reports under
      cover Form&#160;20-F or Form&#160;40-F). </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Form
      20-F
<font style="FONT-FAMILY: Wingdings"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">x</font></font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form
      40-F <font style="FONT-FAMILY: Wingdings">o</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule 101(b)(1):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark if the registrant is submitting the Form 6-K in paper as permitted
      by Regulation S-T Rule 101(b)(7):</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Indicate
      by check mark whether the registrant by furnishing the information contained
      in
      this Form is also thereby furnishing the information to the Commission pursuant
      to Rule&#160;12g3-2(b) under the Securities Exchange Act of 1934.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Yes&#160;<font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o</font>&#160;&#160;&#160;No
      <font style="DISPLAY: inline; FONT-FAMILY: Wingdings">x</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      "Yes"
      is marked, indicate below the file number assigned to the registrant in
      connection with Rule&#160;12g3-2(b): 82- ___. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURE</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
      to the requirements of the Securities Exchange Act of 1934, the registrant,
      pSivida Limited, has duly caused this report to be signed on its behalf by
      the
      undersigned, thereunto duly authorized. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
      <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

          <tr valign="top" bgcolor="#ffffff">
            <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
              Limited</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;July
              25, 2005</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>/s/
              Aaron
              Finlay&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
              </u></font></font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;</font></td>
            <td align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aaron
              Finlay</font></td>
          </tr>
          <tr valign="top" bgcolor="#ffffff">
            <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
              Financial Officer and Company Secretary</font></td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div>&#160;</div>
    <div><br></div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">
          </div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
          </div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
      INDEX</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="15%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
                99.1:</font></div>
            </td>
            <td align="left" valign="top" width="62%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                appoints CEO of Chugai Pharma USA as a Non-Executive
                Director.</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Business
                Development Focus</font></div>
            </td>
          </tr>
          <tr>
            <td align="left" valign="top" width="15%">&#160;</td>
            <td align="left" valign="top" width="62%">&#160;</td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">
        </div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
        </div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">
        </div>
      </div>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v022306_ex99-1.htm
<TEXT>
<html>
  <head>
    <title>
      Unassociated Document
</title><!-- Licensed to: vintage-->
<!-- Document Created using EDGARIZER HTML 3.0.0.31442 -->
<!-- Copyright 2005 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</head>
  <body bgcolor="#ffffff">
    <div>&#160;</div>
    <div align="center">
      <table bgcolor="#ffffff" cellpadding="0" cellspacing="0" width="100%">

          <tr bgcolor="#ffffff">
            <td width="25%">&#160;</td>
            <td colspan="2" width="50%">&#160;</td>
            <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">

<IMG SRC="logo.jpg">

&#160;</font></td>
          </tr>
          <tr bgcolor="#ffffff">
            <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td colspan="2" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
          </tr>
          <tr bgcolor="#ffffff">
            <td width="25%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ASX/MEDIA
              RELEASE</strong>&#160;</font></td>
            <td colspan="2" width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            <td width="25%">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<strong>25<sup>th</sup>
                July 2005</strong></font></div>
            </td>
          </tr>
          <tr bgcolor="#ffffff">
            <td width="25%">&#160;</td>
            <td colspan="2" width="50%">&#160;</td>
            <td width="25%">&#160;</td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
    <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>pSivida
      appoints CEO of Chugai Pharma USA as a Non-Executive
      Director.</u></strong></font></div>
    <div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Business
        Development Focus</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Global
        nanotechnology company pSivida Limited </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(ASX:PSD,
        NASDAQ:PSDV, Xetra:PSI)</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        is
        pleased to announce the appointment of Dr. David J. Mazzo as a Non-executive
        Director of the company, based in New Jersey, USA. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
        President and CEO of Chugai Pharma USA, Dr. Mazzo brings his significant
        business development experience and pharmaceutical network to the Board.
        His
        appointment follows pSivida&#8217;s recent NASDAQ listing and will further assist
        pSivida&#8217;s strategy to increase its visibility in the US pharmaceutical and
        capital markets.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chugai
        Pharma USA is part of the Roche group of companies and is a subsidiary of
        Chugai
        Pharmaceutical Company Limited (Japan), a global research-based pharmaceutical
        company with sales in 2001 of US$1.7 billion. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
        </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mazzo
        is
        recognized for his strong scientific and regulatory expertise with broad
        technical and managerial experience gained from working in a variety of
        multi-cultural and multi-lingual environments in the USA, Europe and
        Asia.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
        Mazzo
        holds a Bachelor of Arts with Honors (Interdisciplinary Humanities) and a
        B.S.
        with Honors in Chemistry from Villanova University, as well as a Master of
        Science in Chemistry and a Ph.D in Analytical Chemistry from the University
        of
        Massachusetts. He complemented his American education as a Research Fellow
        at
        the &#201;cole Polytechnique F&#233;d&#233;rale de Lausanne, Switzerland.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida&#8217;s
        Managing Director Mr Gavin Rezos said, &#8220;We are very fortunate to have David join
        the Board. David brings a unique and powerful blend of scientific and business
        skills that will greatly assist pSivida&#8217;s expansion in the US market.&#8221;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dr.
        Mazzo
        has published often and is frequently invited to present at international
        pharmaceutical conferences. He served as a member of the Nasal Drug Products
        subcommittee of the FDA Advisory Committee for Pharmaceutical Science and
        presently serves as an advisor to a number of academic and investment
        organisations.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        pSivida Board engaged Tamara P. Davis, Managing Director, Corporate Governance
        Practice at Levin &amp; Company, Inc</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.
        Boston., Massachusetts,</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
        to
        assist in this important Board Director</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">recruitment.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>-ENDS-</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Released
        by:</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div align="left">
        <table border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>pSivida
                  Limited</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Brian
                  Leedman</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investor
                  Relations</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                  Limited</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
                  + 61 8 9327 5099</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">brianl@psivida.com</font></div>
              </td>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>US
                  Public Relations</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beverley
                  Jedynak</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Martin
                  E. Janis &amp; Company, Inc</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
                  +1 (312) 9 1100 ext. 12</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">bjedynak@janispr.com</font></div>
              </td>
              <td align="left" valign="top" width="27%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UK
                  &amp; Europe Public</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Relations</strong></font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mark
                  Swallow, PhD / Helena Podd</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Citigate
                  Dewe Rogerson</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
                  +44 (0)20 7282 2948 / 2867</font></div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">mark.swallow@citigatedr.co.uk</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
          <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
        </div>
        <div id="PN" style="PAGE-BREAK-AFTER: always">
          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
        </div>
        <div id="HDR">
          <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
        </div>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>NOTES
        TO EDITORS:</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>pSivida
        Limited</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        is a global nanotechnology company committed to the biomedical sector and
        the
        development of products in healthcare. The company&#8217;s focus is the development
        and commercialisation of a modified form of silicon (porosified or
        nano-structured silicon) known as BioSilicon&#8482;. As a new and exciting
        biocompatible material, BioSilicon&#8482; offers multiple potential applications
        across the high growth healthcare sector, including controlled release drug
        delivery, targeted cancer therapies (including brachytherapy and localized
        chemotherapy), tissue engineering and orthopedics. Potential diagnostics
        applications are being developed through its subsidiary AION Diagnostics
        Limited. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        owns the intellectual property rights to BioSilicon&#8482; for use in or on humans and
        animals. The IP portfolio consists of 26 patent families, 29 granted patents
        and
        over 80 patent applications. The core patent, which recognises BioSilicon&#8482; as a
        biomaterial was granted in the UK in 2000 and in the US in 2001. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
        is listed on NASDAQ (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PSDV</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">),
        the
        Australian Stock Exchange (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PSD</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)
        and in
        Germany on the Frankfurt Stock Exchange on the XETRA system (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>German</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Symbol:
        PSI. Securities Code (WKN) 358705</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">).
        pSivida&#8217;s shares also trade in the United Kingdom on the OFEX International
        Market Service (IMS) under the ticker symbol </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PSD</strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Company&#8217;s strategic partner and largest shareholder is the QinetiQ group, the
        largest science and technology company in Europe. QinetiQ is the former UK
        government Defence Evaluation Research Agency and was instrumental in
        discovering BioSilicon&#8482;. pSivida enjoys a strong relationship with QinetiQ
        having access to its cutting edge research and development facilities. For
        more
        information on QinetiQ visit </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.qinetiq.com</u></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For
        more
        information visit </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><u>www.psivida.com</u></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">
        <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
          document contains forward-looking statements that involve risks and
          uncertainties. Although we believe that the expectations reflected in such
          forward-looking statements are reasonable at this time, we can give no
          assurance
          that such expectations will prove to be correct. Given these uncertainties,
          readers are cautioned not to place undue reliance on such forward-looking
          statements. Actual results could differ materially from those anticipated
          in
          these forward-looking statements due to many important factors including:
          our
          failure to develop applications for BioSilicon</font><font style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><sup>TM</sup></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
          due to
          regulatory, scientific or other issues. Other reasons are contained in
          cautionary statements in the Registration Statement on Form 20-F filed
          with the
          U.S. Securities and Exchange Commission, including, without limitation,
          under
          Item&#160;3.D, "Risk Factors" therein. We do not undertake to update
          any oral or
          written forward-looking statements that may be made by or on behalf of
          pSivida.</font></div>
      </div>
    </div>
    <div align="center">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@$`2`!(``#_X0N817AI9@``34T`*@````@`!P$2``,`
M```!``$```$:``4````!````8@$;``4````!````:@$H``,````!``(```$Q
M``(````4````<@$R``(````4````AH=I``0````!````G````,@```!(````
M`0```$@````!061O8F4@4&AO=&]S:&]P(#<N,``R,#`U.C`W.C(T(#(S.C$S
M.C0X``````.@`0`#`````?__``"@`@`$`````0```/*@`P`$`````0```$D`
M````````!@$#``,````!``8```$:``4````!```!%@$;``4````!```!'@$H
M``,````!``(```(!``0````!```!)@("``0````!```*:@````````!(````
M`0```$@````!_]C_X``02D9)1@`!`@$`2`!(``#_[0`,061O8F5?0TT``O_N
M``Y!9&]B90!D@`````'_VP"$``P("`@)"`P)"0P1"PH+$14/#`P/%1@3$Q43
M$Q@1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P!#0L+#0X-
M$`X.$!0.#@X4%`X.#@X4$0P,#`P,$1$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,#/_``!$(`"<`@`,!(@`"$0$#$0'_W0`$``C_Q`$_```!
M!0$!`0$!`0`````````#``$"!`4&!P@)"@L!``$%`0$!`0$!``````````$`
M`@,$!08'"`D*"Q```00!`P($`@4'!@@%`PPS`0`"$0,$(1(Q!4%181,B<8$R
M!A21H;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F1)-49$7"HW0V%])5
MXF7RLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6YO8W1U=G=X>7
MI[?'U^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!46%Q(A,%,H&1%*&Q
M0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD235*,79$55-G1EXO*S
MA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V)S='5V=WAY>GM\?_
MV@`,`P$``A$#$0`_`/54DEA=2MMPNHBRESH<WU'-+B09+MS-I_-]JK<WS0Y:
M`R2CQ0XA&5'6/%^E7Z28QLT[JR>M_6?H_0PQF;:795\#&PJ6FS(M<?;6RC'9
M[OTC_P!&Q[]E7J?X15NH9U(SGXV+EO=D,:VW)QP\S6VS^8EO^#W[7_HT3T*Z
M,+]IAH?FW-:W[0]K2]H)VPRW;ZFWW_G/4/\`I$#-FQ2QD?=X>YDE8/HX>./"
M/ZR>#0&]W.;1];NM-=E]3R_^;?2MA/V/'V.RRP@[K,O/M:YF$]FWU&_9V?S;
M]EOIVUHG^+^[/R.DY-^1D796$_+M_9=V4=U[\4$-KMMM,.?ZEGJ>GOK]G_$^
MEZ<ATG)ZQBMQKK7U]/O<[[>6V.%EU;2-N"-?T562[?\`;+V?I?L[/LO_`&HL
MMIW;[\#I.`;;2S%P<2L#00RNMHVM:UE8]K&_1:QBM<OF.;%#*8\'&.(1N_3^
MBM(H^3926%_SX^J8<P'J=/OVZR=K=[O3;ZK]NRAV[Z?K>GZ?T[/8K75LZZES
M**';'.&YSM.#[&-#G^UON0YGF(<OB.6=D"A4=92E+:,4Q'$:#II+(INZGCYK
M*+]U['QN@;@`[V^H+`UFW8[Z>]6+3_E.L?:MF@_5_=KH_P`]BBASHG&QCE&7
MN##*&3AQ2B9?I>J7K_P$\/CTO1OI+/P^O]'SLV_`Q,IMN5B[O7J`(+=CO0L^
MDT-]EHV+(ZM]8>C]7Z%U`=,ZPW%..*3;FL%GZ(66#TOYOTK/UCTK*OT3U;6$
MZ/3I+`Z#U##Z?]5*<[.ZH,[&J]0V=2?OATW6,:W],ZR[V/=]F8U<W]<?KF;;
M<!WU=ZD16?5;DBH"=P=B>EZC+Z]_T+;=B5H,@!9\/Q?0TEG]4Z_T?I!K'4LN
MO'=<8K8XDN='+A6S<_8W_2?04^E]:Z7U>M]O3<AF2RIVRS;(+71NAS7AKOHI
M+KZ/_]#U5<[U?J73K>NT='IWW]3])UME=+-XJ8T>HQ^8_>QM+;/H5;O4_GO^
M%K]2U]:^OM^K_1;<\5^MD$MIQ*()]2ZP[:J_;[O^$=_(8A?5/ZOV=(Q+,G.?
M]HZSU$B[J>2?SK-=M+`WV>EC[_39Z?\`X'_-5Q<Q@AGQ2Q9!<9?R!2"0;#EX
MW3L3I[;!30^O)R;7WYEUQ+K+7.(<S=;8!9Z=+7;*JO\`!_\`"6V66+1=9=E8
ME&'34\MKC>\#0D`C3Z+-O]=Z#]:NM8>+D8^'4'YG42UQKP,<;K2":PVR[_!X
MF/\`O9&1_P""*_\`5ZCJ?V5N7U*YOJ6,#:\.C^9I8/S/4.Y^5E?Z?(W>E_W'
MHJ_PV/#DLL^=YG'DRGAE"`E.HC)GQQ$-O^A+*R<0$10_L;^%C#&QFU=]7'XG
MW'Q67]=O_$IU/_B#^4+<6']=O_$IU/\`X@_E"VHPCCQB$1481X8^46&6H+YW
MU#IF!7]1L+J-=+&9M^;D5WW`>^QCFY;378?SF?H*7;/^#_XQ>BXV-CY/1NFL
MLN;7D?9J16YQ!+MS&2US7'])O7`X'U8^M/6^C8U>+D4OZ4ZV^RFJU^WT+=UN
M/:][6TV6W;M]UE6R_9^FL_1U+T6WHH&)C4X[_P!)B5,I:Y^FYC`&MW%@]MC8
MW^U0\Y"4L$XC&,]@7BD>'CC^EPG]_P#<8^6!%2^4&$`#IT08V3EX&2W%R#-9
M($$S`=[6OJ?^YN_-1<C_`)<I^`_ZFQ*GIF9;DLNS7@AD&)W$[?<UOT6L:S<K
M%N%<_J5>4"WTV`2#.[0/'A_+6;CP<R<48F.3VX<SBGBCEUS0P1^;C_JQ;)(O
MIL;KN^<=?NM^K?UNZJ^MSJV]0Q[O0+9W;LVO]#M<S;Z7^5L1_P"E_P`'O_MH
M_3\!N/\`XLNHY8YS;VEIG_!TWTX5/]7^CNL_ZZNA^NOU0S^NY6-E].MIJNIJ
MLJM]<N`();9CD>DRQWZ-_J_]NJ]U'ZMVV_4]OU>PWL%E=-%+++9#3Z+JG/>_
MTVN_G/2=^8MIIF$OUHK3AEP?]5]4_P#GQ>,Z@YX_Q9])(<0!G6%S>SH?GN:'
M?U;`RS^PJ?UEZ5@=/P/J[;B5"NW,PP_*LDDVO:[$M;;;^];OR\C])_+]/^;J
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MJ'6.B]9OS^H9-.4+JK*W6L+_`%'O?:R[UK&V-V_I&L=ZOZ7^<_D(]5THR.2,
MN&JGN.'U1X?F/Z3_`/_1Z;Z[69F/U+I.7]C'4L%ED,QCD-QXS0^J[I]U6_:^
M[(_1WUU5?I=_Z2M-9C?XP>NGT\BRGZMX+M'MQW>OEF/I;;V?H:_4^DQ]3Z[*
MO^$7@J22.K]#]"Z7]3<2BW&Z5?1<^L@9MK;VV7.?+O?FVUOW>HY_J_3]GT_3
MK6SA4X%1L^QEI)CU-KMW&[;N]SOY2^7TE6'W3W]/:^\_X'O_`"_^&?(N]5=:
M_!^JE3ZMC]/R>FY%'4W-;@V,C(<YYJ:&_P`JX.K]/_/7S"DK*'Z;Z)B]*Q.G
M,HZ0YK\)KGECF6&T;BYSK?TKG6;OTN_\]7U\JI)(%4*VZ4_522^54DDOU4DO
ME5))3]5)+Y5224_522^54DE/_]G_[1!24&AO=&]S:&]P(#,N,``X0DE-!"4`
M`````!``````````````````````.$))30/M```````0`$@````!``$`2```
M``$``3A"24T$)@``````#@`````````````_@```.$))300-```````$````
M>#A"24T$&0``````!````!XX0DE-`_,```````D```````````$`.$))300*
M```````!```X0DE-)Q````````H``0`````````!.$))30/U``````!(`"]F
M9@`!`&QF9@`&```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&
M```````!`#4````!`"T````&```````!.$))30/X``````!P``#_________
M____________________`^@`````_____________________________P/H
M`````/____________________________\#Z`````#_________________
M____________`^@``#A"24T$`````````@`!.$))300"```````$`````#A"
M24T$"```````$`````$```)````"0``````X0DE-!!X```````0`````.$))
M300:``````-)````!@``````````````20```/(````*`%4`;@!T`&D`=`!L
M`&4`9``M`#$````!``````````````````````````$``````````````/(`
M``!)``````````````````````$`````````````````````````$`````$`
M``````!N=6QL`````@````9B;W5N9'-/8FIC`````0```````%)C=#$````$
M`````%1O<"!L;VYG``````````!,969T;&]N9P``````````0G1O;6QO;F<`
M``!)`````%)G:'1L;VYG````\@````9S;&EC97-6;$QS`````4]B:F,````!
M```````%<VQI8V4````2````!W-L:6-E241L;VYG``````````=G<F]U<$E$
M;&]N9P`````````&;W)I9VEN96YU;0````Q%4VQI8V5/<FEG:6X````-875T
M;T=E;F5R871E9`````!4>7!E96YU;0````I%4VQI8V54>7!E`````$EM9R``
M```&8F]U;F1S3V)J8P````$```````!28W0Q````!`````!4;W`@;&]N9P``
M````````3&5F=&QO;F<``````````$)T;VUL;VYG````20````!29VAT;&]N
M9P```/(````#=7)L5$585`````$```````!N=6QL5$585`````$```````!-
M<V=E5$585`````$```````9A;'1486=415A4`````0``````#F-E;&Q497AT
M27-(5$U,8F]O;`$````(8V5L;%1E>'1415A4`````0``````"6AO<GI!;&EG
M;F5N=6T````/15-L:6-E2&]R>D%L:6=N````!V1E9F%U;'0````)=F5R=$%L
M:6=N96YU;0````]%4VQI8V5697)T06QI9VX````'9&5F875L=`````MB9T-O
M;&]R5'EP965N=6T````115-L:6-E0D=#;VQO<E1Y<&4`````3F]N90````ET
M;W!/=71S971L;VYG``````````IL969T3W5T<V5T;&]N9P`````````,8F]T
M=&]M3W5T<V5T;&]N9P`````````+<FEG:'1/=71S971L;VYG```````X0DE-
M!!$```````$!`#A"24T$%```````!`````(X0DE-!`P`````"H8````!````
M@````"<```&````Z@```"FH`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[0`,
M061O8F5?0TT``O_N``Y!9&]B90!D@`````'_VP"$``P("`@)"`P)"0P1"PH+
M$14/#`P/%1@3$Q43$Q@1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P!#0L+#0X-$`X.$!0.#@X4%`X.#@X4$0P,#`P,$1$,#`P,#`P1#`P,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#/_``!$(`"<`@`,!(@`"$0$#$0'_
MW0`$``C_Q`$_```!!0$!`0$!`0`````````#``$"!`4&!P@)"@L!``$%`0$!
M`0$!``````````$``@,$!08'"`D*"Q```00!`P($`@4'!@@%`PPS`0`"$0,$
M(1(Q!4%181,B<8$R!A21H;%"(R054L%B,S1R@M%#!R624_#A\6-S-1:BLH,F
M1)-49$7"HW0V%])5XF7RLX3#TW7C\T8GE*2%M)7$U.3TI;7%U>7U5F9VAI:F
MML;6YO8W1U=G=X>7I[?'U^?W$0`"`@$"!`0#!`4&!P<&!34!``(1`R$Q$@1!
M46%Q(A,%,H&1%*&Q0B/!4M'P,R1BX7*"DD-3%6-S-/$E!A:BLH,')C7"TD23
M5*,79$55-G1EXO*SA,/3=>/S1I2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V
M)S='5V=WAY>GM\?_V@`,`P$``A$#$0`_`/54DEA=2MMPNHBRESH<WU'-+B09
M+MS-I_-]JK<WS0Y:`R2CQ0XA&5'6/%^E7Z28QLT[JR>M_6?H_0PQF;:795\#
M&PJ6FS(M<?;6RC'9[OTC_P!&Q[]E7J?X15NH9U(SGXV+EO=D,:VW)QP\S6VS
M^8EO^#W[7_HT3T*Z,+]IAH?FW-:W[0]K2]H)VPRW;ZFWW_G/4/\`I$#-FQ2Q
MD?=X>YDE8/HX>./"/ZR>#0&]W.;1];NM-=E]3R_^;?2MA/V/'V.RRP@[K,O/
MM:YF$]FWU&_9V?S;]EOIVUHG^+^[/R.DY-^1D796$_+M_9=V4=U[\4$-KMMM
M,.?ZEGJ>GOK]G_$^EZ<ATG)ZQBMQKK7U]/O<[[>6V.%EU;2-N"-?T562[?\`
M;+V?I?L[/LO_`&HLMIW;[\#I.`;;2S%P<2L#00RNMHVM:UE8]K&_1:QBM<OF
M.;%#*8\'&.(1N_3^BM(H^3926%_SX^J8<P'J=/OVZR=K=[O3;ZK]NRAV[Z?K
M>GZ?T[/8K75LZZES**';'.&YSM.#[&-#G^UON0YGF(<OB.6=D"A4=92E+:,4
MQ'$:#II+(INZGCYK*+]U['QN@;@`[V^H+`UFW8[Z>]6+3_E.L?:MF@_5_=KH
M_P`]BBASHG&QCE&7N##*&3AQ2B9?I>J7K_P$\/CTO1OI+/P^O]'SLV_`Q,IM
MN5B[O7J`(+=CO0L^DT-]EHV+(ZM]8>C]7Z%U`=,ZPW%..*3;FL%GZ(66#TOY
MOTK/UCTK*OT3U;6$Z/3I+`Z#U##Z?]5*<[.ZH,[&J]0V=2?OATW6,:W],ZR[
MV/=]F8U<W]<?KF;;<!WU=ZD16?5;DBH"=P=B>EZC+Z]_T+;=B5H,@!9\/Q?0
MTEG]4Z_T?I!K'4LNO'=<8K8XDN='+A6S<_8W_2?04^E]:Z7U>M]O3<AF2RIV
MRS;(+71NAS7AKOHI+KZ/_]#U5<[U?J73K>NT='IWW]3])UME=+-XJ8T>HQ^8
M_>QM+;/H5;O4_GO^%K]2U]:^OM^K_1;<\5^MD$MIQ*()]2ZP[:J_;[O^$=_(
M8A?5/ZOV=(Q+,G.?]HZSU$B[J>2?SK-=M+`WV>EC[_39Z?\`X'_-5Q<Q@AGQ
M2Q9!<9?R!2"0;#EXW3L3I[;!30^O)R;7WYEUQ+K+7.(<S=;8!9Z=+7;*JO\`
M!_\`"6V66+1=9=E8E&'34\MKC>\#0D`C3Z+-O]=Z#]:NM8>+D8^'4'YG42UQ
MKP,<;K2":PVR[_!XF/\`O9&1_P""*_\`5ZCJ?V5N7U*YOJ6,#:\.C^9I8/S/
M4.Y^5E?Z?(W>E_W'HJ_PV/#DLL^=YG'DRGAE"`E.HC)GQQ$-O^A+*R<0$10_
ML;^%C#&QFU=]7'XGW'Q67]=O_$IU/_B#^4+<6']=O_$IU/\`X@_E"VHPCCQB
M$1481X8^46&6H+YWU#IF!7]1L+J-=+&9M^;D5WW`>^QCFY;378?SF?H*7;/^
M#_XQ>BXV-CY/1NFLLN;7D?9J16YQ!+MS&2US7'])O7`X'U8^M/6^C8U>+D4O
MZ4ZV^RFJU^WT+=UN/:][6TV6W;M]UE6R_9^FL_1U+T6WHH&)C4X[_P!)B5,I
M:Y^FYC`&MW%@]MC8W^U0\Y"4L$XC&,]@7BD>'CC^EPG]_P#<8^6!%2^4&$`#
MIT08V3EX&2W%R#-9($$S`=[6OJ?^YN_-1<C_`)<I^`_ZFQ*GIF9;DLNS7@AD
M&)W$[?<UOT6L:S<K%N%<_J5>4"WTV`2#.[0/'A_+6;CP<R<48F.3VX<SBGBC
MEUS0P1^;C_JQ;)(OIL;KN^<=?NM^K?UNZJ^MSJV]0Q[O0+9W;LVO]#M<S;Z7
M^5L1_P"E_P`'O_MH_3\!N/\`XLNHY8YS;VEIG_!TWTX5/]7^CNL_ZZNA^NOU
M0S^NY6-E].MIJNIJLJM]<N`();9CD>DRQWZ-_J_]NJ]U'ZMVV_4]OU>PWL%E
M=-%+++9#3Z+JG/>_TVN_G/2=^8MIIF$OUHK3AEP?]5]4_P#GQ>,Z@YX_Q9])
M(<0!G6%S>SH?GN:'?U;`RS^PJ?UEZ5@=/P/J[;B5"NW,PP_*LDDVO:[$M;;;
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MIU.[T]GT/]&KGU1^J'6.B]9OS^H9-.4+JK*W6L+_`%'O?:R[UK&V-V_I&L=Z
MOZ7^<_D(]5THR.2,N&JGN.'U1X?F/Z3_`/_1Z;Z[69F/U+I.7]C'4L%ED,QC
MD-QXS0^J[I]U6_:^[(_1WUU5?I=_Z2M-9C?XP>NGT\BRGZMX+M'MQW>OEF/I
M;;V?H:_4^DQ]3Z[*O^$7@J22.K]#]"Z7]3<2BW&Z5?1<^L@9MK;VV7.?+O?F
MVUOW>HY_J_3]GT_3K6SA4X%1L^QEI)CU-KMW&[;N]SOY2^7TE6'W3W]/:^\_
MX'O_`"_^&?(N]5=:_!^JE3ZMC]/R>FY%'4W-;@V,C(<YYJ:&_P`JX.K]/_/7
MS"DK*'Z;Z)B]*Q.G,HZ0YK\)KGECF6&T;BYSK?TKG6;OTN_\]7U\JI)(%4*V
MZ4_522^54DDOU4DOE5))3]5)+Y5224_522^54DE/_]DX0DE-!"$``````%4`
M```!`0````\`00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'`````3`$$`
M9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P`"``-P`N`#`````!`#A"24T$
M!@``````!P`!`````0$`_^$22&AT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N
M,"\`/#]X<&%C:V5T(&)E9VEN/2?ON[\G(&ED/2=7-4TP37!#96AI2'IR95-Z
M3E1C>FMC.60G/SX*/#]A9&]B92UX87`M9FEL=&5R<R!E<V,](D-2(C\^"CQX
M.GAA<&UE=&$@>&UL;G,Z>#TG861O8F4Z;G,Z;65T82\G('@Z>&%P=&L])UA-
M4"!T;V]L:VET(#(N."XR+3,S+"!F<F%M97=O<FL@,2XU)SX*/')D9CI21$8@
M>&UL;G,Z<F1F/2=H='1P.B\O=W=W+G<S+F]R9R\Q.3DY+S`R+S(R+7)D9BUS
M>6YT87@M;G,C)R!X;6QN<SII6#TG:'1T<#HO+VYS+F%D;V)E+F-O;2]I6"\Q
M+C`O)SX*"B`\<F1F.D1E<V-R:7!T:6]N(&%B;W5T/2=U=6ED.F9C93`P83,U
M+69C8CDM,3%D.2UB.&-B+6$R8F1A8S<Y,38S-"<*("!X;6QN<SIX87!-33TG
M:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+VUM+R<^"B`@/'AA<$U-.D1O
M8W5M96YT240^861O8F4Z9&]C:60Z<&AO=&]S:&]P.F9C93`P83,S+69C8CDM
M,3%D.2UB.&-B+6$R8F1A8S<Y,38S-#PO>&%P34TZ1&]C=6UE;G1)1#X*(#PO
M<F1F.D1E<V-R:7!T:6]N/@H*/"]R9&8Z4D1&/@H\+W@Z>&%P;65T83X*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"CP_
M>'!A8VME="!E;F0])W<G/S[_[@`.061O8F4`9(`````!_]L`A``,"`@("0@,
M"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,#!$,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.%!0.#@X.%!$,#`P,#!$1#`P,
M#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`S_P``1"`!)`/(#`2(`
M`A$!`Q$!_]T`!``0_\0!/P```04!`0$!`0$``````````P`!`@0%!@<("0H+
M`0`!!0$!`0$!`0`````````!``(#!`4&!P@)"@L0``$$`0,"!`(%!P8(!0,,
M,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D%5+!8C,T<H+10P<EDE/PX?%C
M<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-UX_-&)Y2DA;25Q-3D]*6UQ=7E
M]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$``@(!`@0$`P0%!@<'!@4U`0`"
M$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D8N%R@I)#4Q5C<S3Q)086HK*#
M!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4I(6TE<34Y/2EM<75Y?569G:&
MEJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1`Q$`/P#U5))))2DDDDE*2222
M4I0NNJHJ??>]M5-32^RQY#6M:T;GO>]WM:QK5S/UK_Q@]'^KCG8LMR^IMV..
M&'[`UCM?4OR-EC*_T?O]%K;<I^^G]!Z5GK+G*?JS];_KK=5U#ZQ9#NF8+7`M
MP@Q[2'5'9ZF/@7DLH]5EF3MS<_[1E?N8OV7T4D&70"S_`"W='J7^-"NR]V']
M6NGW=6NV.<+0QX'#/3MIQ*ZWY>33O?\`I-_V*K]'_2?TOJ*AU3JW^-#I]!ZQ
MFBO$Q66UMLQVMQWL:-U53-U37WY#L;*LM]-_I]1?E,L]3^CT[%W72.@]'Z)2
MZGI>*S&:_6QPEUCS+GCU\BPOOOVNM?L]6Q_IKB_\8/4,KKG5L7ZG='&_*;8+
M<IS@6,:_T_5HW6.]ME.-19]LR?T-OZ7[!Z'Z?]$DLF)<)]1OIPZ>KH]A]6.M
M?MWH.'U4L]-^0PBU@B!96YU%_IPZS]#ZU5GH^_\`FEJ*OT_"JZ?@8V!07.IQ
M*:Z*W/(+BVMK:F%Y:&MW[6_NJPDR*22224I))))2DDDDE*22224I))))2DDD
MDE*22224I))))2DDDDE*22224__0]522224X/6L-M).1JX7.,DQ#7<Q^\[?#
MD;HW4'O>,:UQ>'`FIQDF1JZN?^IW(O7A.)7S_.CC^J]9."2,JD@D$6L$SKJ6
MM<-/WMRYKF)?<_B<?9N,)F''#]&0R_.S`<4-73ZACYE#'Y+,IY9ODURX0'.@
M;3N/T=RSCF98!/K6:?RS_>LO/^O0ZGU^OHG2*VY&`-QS,O:YTA@WLNQG,(K9
MB-R/1Q_M5OJ,RK+OU?\`P=U]Y_T3\"HOC43@YF,<4IP$X"<AQS/JE.?[TE8B
M)1O>C3T&%AY5+_4R,@VRTCT]2`21[MSG>7[BR>J9[\BQS`^*&G:T#AT'Z;MO
MT_<W]&NB)`!),`:DE<C$AL3Q^:85KXR?N^##R^(RC#(92G<I2E+AX?FE+]&7
M$C'J22RSNINZ/@T7],I^V]8ZF78W3L#<T!SP2ZW(M_FW_9L=E7JWO]FS^;LM
MJ]7UV6?J=]3,;ZN4V9-SSF=9S/=G9SR7.)<=[ZJG/]_I>I[['N_2Y-OZ6[_`
MU4Z^!B8K:L?*%+!D>@*_6VC?L=%KZ_4^GZ;[?TFS]]75K\EACAY;%"(`],92
M\9R'KDQR),B2I))>6XW^-7KK#3=F8F/D4/:=U6-78RPN-;W4#UK<BZNJO[1Z
M7K6OJ?LI5ECGDC`@2-<6@?4DEY17_C2^LEK'&H=.>\08;7:X#GVN(R_^FO0_
MJWU['^L'2J^H4L-+R37D8[B'.JM;_.5.<WZ7YME3_P#"4656[&)(AEA,D1.H
MW&S'/ZM;7<ZC&#?9H^PZ^[^1K^9_+_/5(=5S^U\D=MK/_(JL\/EX?/J2[=/.
MZ3N_Z2VQ3@YV!Z>*&M+&_HQIN8[^7])S=SF?I/\`2+E\>7G.>RYS#F)890N6
M/`)&!E_4`CP_+^E)M$1B!I?BRZ;U+[7NJM:&W-&[VSM+9Y'.W;*EU4Y`QV^A
MOW[Q/IS,0[]Q`PND647UWV6`N9/L:#&H+/IDCQ_T:L]2RK<6AME0:7%X:=P)
M$0X_FEO@M2$LY^'S^^\6*0!!G&CD]OT\,_1^FLTXQPZH.D'++KOM'J1#-GJ;
MOY>[;O6DJ'2\Z_+-HM#1Z>V-H(^EN_><[]U<%UC_`!C?6;!S^H8U>/B1AWW5
MU5V4VEY8QSOLY?&2SW74^E;_`#?O]16?AYA]UQ^W.62'JJ<_GEZY?,QYLD8&
MY^FR`^F)+&^LG7CTOZMW]9P!7ED-J^S$NFIQO?713;OJGU*?T[;OT?\`.L_P
MG^$7._5/ZY_6+K?7JNGWLPVXPIMOR',9:RS:S94P4[K[V;_7R*=V_P#P/JJV
M@Y(B48$^J5T/)S_K=9]:Q]8\T8`ZI]D!K]+[,W)-7\U5O]/[./1_G-^_9_A%
MWGU?^T_L'IOVOU/M7V2CU_6W>IZGIL]7UO4_2>KO_G/4]^]<A]9OKUUWI77<
MOI^(S$-%!K##;78Y_OJJN=O<S)J9].QW^#78]%S+<_H^!G7!K;<K&IOL#`0T
M.L8VQ^P.+W;-SOWDNK%BX./)PRE(WZ@=H_W6ZN+_`,87U@ZQT?(Z;7TW(^SM
MR&9+K@&5OW&LXHJ_GF6;=OK6?16)F_XT.M.RLBSI]>&WIP>?LK[J[7O=4/H9
M%CO7Q-GK?SWI^C^A9^C>L7KGUJR/K*S`?DU5MOPADLMMQS-+Q:[&=1L8]]EM
M5K64/]:MWJ?Z3UOTOI5);FYB'!,1GZHZ:=_[SZ#_`(O^L]2ZOTO,OZE=]HMI
MRW55NVL9#!3C6[8I96W^<NL74+B_\5?_`"-U#_P^[_VWPU6^LW^,;*P^HV].
MZ+CTV?97[,C+R-SF%[=XNHIQZG4N=Z5GIL?>[(^GZU7H_P"$29(Y(QPPE.5>
MF.I\GO4EY8[_`!F?6G;[*\`N`X--T$_^QGM7??5KZPXOUAZ:,VACJGL>:<FA
MTS7:T->]C7[6>K7LLKLJM;].JS_!V;ZF)./-CR6(2NOHZJ2223(__]'U5)))
M)37SZ3?B65-;N)@AL[9@AT;B'?NKF\C'J-1!;6^BP;2PNKN:Z>SV-W-=6]O[
M[-BP_KS]9<_JW5!]3^B$-;>\8^3<TEQM>1^EQIHWOJP<1O\`RK;_`#GZ.[&_
MP=WK]7T7ZH=.Z1TFGIS'OL?4)?D3M+GN)LM<RGWTTUN>YVRK_!_^"+,^)_#C
MS-9,9K-``1L\,:CZOFX92XDX\FI'0;GQ<_HW2.@]$Z%;A]-#A?86.O?>0Z^P
MA_Z-K[6MJ;;70SVTMJ9LKK_X2RQ)_P!$_`K1SNDC&I?>RTN8W;#'-UU(9]-I
M;^]^XL]QAI/@%@_%9<R<T/O48QR1QB/I-C)'CG^L_P`)GQB('IVMVNH]2QAC
M655/%C[&EOMU:`[1SG/;[?HK*QL0WN:-H=OT8/4:TB)W$UNWV?\`06DSH+)/
MJWN<.P8T-_ZKU5>QL+&Q1^B9[H@O.KC_`&OE]%:LN1YOG,\<G-1CAQP'"(0D
M)2K_`,<8^*,14=4E5;:JF5-DMK:&@GF`-JFDDML```#0#0,:EX5T"BG(S^E4
M9%;;J;,C&;96\!S7--E>YKV.]KFN7NJ\,^K1`ZIT>3'ZSBC[[*DNH:G.?-A_
MOO7?XT\6IN9TG(96QKO2R*GO``<6M.,^FLN_T=>Z[8W\SU%H_P"*L1T7/\\]
MQ_\`9?#5+_&K81?TFN-'-RG3_5.(/^_JY_BN<[]A]0V@%PSG0"8!/V?$/.J1
M*8W]\G_<_P"]>AZCTDVO-^+`L,FRLZ!Q_>;^[8LG]+1>>:KZS![$?^2;_P!!
M7QUV]SP[TV"J1+1+G;?SX=N8W=_85[J=>/?@OM<1^C:7U6`CF/;M=_PGT5SV
M?EN4YSW>8Y/(<>7%ZY_H0G_7C^Y_?;X,HT)#0HNF]3=D.&/>`+0V6O&F^/I>
MW]]/UO\`HC/^,'Y'K*PB\9E!9.[>WCP.EG_@>]:O6_Z(S_C!^1Z=AYO)S'PK
MF/=)E+&.#C_>CZ:_PE&($Q2'H/TLCX,_]&+S[_&+@'$^M+\@;_3ZE17=N=&W
MU:OU2]E3@T?0H9A/>U_^E7H/0?I9'P9_Z,6#_C1P/5Z5B=18R7X5^RRR8VTY
M`])WLGW^IF-P/HM]3_K7K+0^#_[@P_X?_I2;7YV'%#(/"_\`%]3S'5^JMS/J
M+]7,&T-=?5=:)8/8&=/%O3F>H'/>YN0]N3B7_P#;EGZ/]$MS_%3@4.;U+JWM
M=:;&X+3M!<UM36Y-NV[Z6VY^56VRK_NI_P!M^>MK?7=;;9:33])C"X[6$AC<
MA^TGT_TC<?'WV?\`!?\`!KV7ZC83\+ZI]-JL=N?95]H?[=FTY+G9KJMA+_YG
M[1Z7]A:#6P3]W+Q_NPC'_"EZI/GWUY_\5G4/C3_YXH7<U>K_`.-NST7FNW]B
MCTW@D%KOLOL>'-]S=KEPWUY_\5G4/C3_`.>*%W%=@J_Q;-L=)#.BAQCF!BRE
MU1R]^[S%;W_WSYS]6NF8W4OK!TSI^2T'%==NLJAI:YM%=N6RE[+&O8ZE]F/6
MRUG^A71?XT<+$IZKT_+IJ;7D9=5XR;&B#9Z)Q&T&W]]]3+7L:_Z>SV+%^IUU
M=/UKZ4^UP8PVO9N<8&ZRB^FIO_7+K*ZF?\)8N@_QK?TOH_\`Q>7_`-5@H+,?
M^XY^9=#_`!5_\C=0_P##[O\`VWPUBYO^+O!Z52W+Z_U^K[`VP.R?5I=6^\`^
MO?0+FYKKGY&777;_`#++,BS\Q:G^+;*HPOJWU;,R7>GCXV79;<^"=K&8V)98
M[:P.>[:QOYJX'*S.H]?ZG1E9;F/ZIU&VO'Q_4W-JJ-KME-%;?TKJ,>CU/?M_
M26^]]GJ7V(LQE$8L-QXY$1X(_P!;A=KZU=1^IV<:6?5_IIQKL>WW9E5#<6JR
MIU9]2MU4TY%OZ;T=OK8GL]-_I/\`3_G=S_%36UM_5W@0Y[<7=YQ]J6=]:OJE
MTGZN=(PRS(?D]4OO`?;:_:7UMJ=Z_H8=9;2RAE_HN^A;=5ZWIV9*T_\`%5_.
M=5^&-^7*2_@L!G][CQ5?#^CM3Z`DDDDW7__2]57'?XQOK:.B8`Z?BV;,_.8X
MFUK]KJ*)%=F5[?TOK6;O1PO^&_2?]I_37777545/NN>VJJII?98\AK6M:-SW
MO>[VM8UJ\XQ<:OZP?XS1EV/L=@UX]'5,)M@L`LJ95B_8_1E]?ITMS\J[)=[=
MGVFBVJW_``J2V=U0W.E]G>_Q?_5/]A].^UYM3&]4RF@.@$NHHAIJP/4?])S'
M?I<E[-GJ7^S]*S'HL76)+#Z[]<^@]#<ZG)N-^8V)PL>++A.S^<;N;7C^RUMO
MZU;1ZE?\UO25I&/8!T.K_P#)]OQ9_P!6Q>?=:^MN-BW?LSIC/VAU6[<RNFN"
MQCP=A^TV;AL]/WO?7_P?Z;[/_.H&7U;ZU_7C&-;6CI'0KQ8T/K)L-I:&5OI=
M;^A?F;;M_P#,?9,+^<KMMS;:_16QTKH/2^D5/KP*15ZL>H\G<]Q`V;GN_P"G
MLK;51O?9Z--*Y[XR>6',1R9#[N2$!`<N-!O*?'FG^[Z_YOYV;$9$:"A?S?\`
M>N]T?ZOYK,T=8Z_E-ZCU5K2W&#&>GCXC+/=?3@U?2<]SOT3\Z[]:NQJZ:O\`
M2^IO+/Z?U-^7;Z+ZPQP9N+@Z02"UOT=OM^E^\M!;F#F,6?&,F*7%`Z71CJ/[
MRP@@T5)))*5"EX!AX5G4&8N#6&%^4:J6BR0R;"RMN]S-SV?2^FUOL7OZ\,^K
M#FGJO1P"#^LXO_GRI+J&ISF^+^\FR.B?6NS.V9W3NHY&?[*=]OJ9+8=[V,9U
M%S[<1M#'7>_]9KKK_2>JO3/J-T')Z'T(4YNF;E6NR<FL.#VUN>&55T,>QK/Y
MK'II99_.?I_5V6^FNA229H88PD9`DREUD>+3LX_4.DVFXW8HWBPDOKD`AQUW
MM+R/:Y9[</)+@&X]DDP/81S_`"G`-74)+)YCX'R^7(<@E+'Q&Y1C7#_@_NM@
M9"!6[E],Z8^E_P!HR-+!(96#.W\W<[;^<Y'ZICW9&.UE+=S@\$B0-(=^\KJ2
MMQY#!'EI<K&XXY#U$?SDB?T^+]Y'$;XG-Z3B9&,ZXW,V[PS;J#,;Y^B3^\F^
MLO2OVQT'.Z:`#9?2[T)<6`7-_2XEA?7[OT>2RJQ::2EY;EX<OACA@28PNC+Y
MO5+C_1X42/$;/5\BK_Q?_67(?33E8;J<:ZRMF4]MM&]E+GM;E.;^DM;O91ZG
MYMB]=224S%APQQ`B-ZF]7SCZU_5+ZP]0^L.9FX>)ZN/<:_3?ZE39VU55N]ME
MC7_38Y=KT;`=5]7<'IV?4TN9AU8^30_:]I(J;5=4_P"G78SZ3/W%I))*AAC"
M4Y`FYFS;XOU#ZH?6'HM[<7[+D93*7`XN;A5V/W"LM?3=^J^K?AWU_H_YS9^F
M_H]EU?Z1'9]3OKMU`5]0R<>ZPO9M8W+O:_(V0RVLV_:;7/HKW6V[,;U/4]3U
M_7II_P`)["DDQGE8'B%R`F;X;]-_W7DOJ7]7,O$Z#U+IG6L?8S.R+-U6\'?3
M91CXS_?CO=LW>G:SZ?J+S[)^K?UFZ?<,?*Z?E.OI+7UY6$RRYCBQY]/(HR,)
MI?2_?5ZS66_9\BOV?HU[<DDNER\)1A$DCVZX9`^H4^/#ZE_77/%/4[L>RU]@
M%99FY&_+;5M=?6[]8M>VBCU'['T/O^T^M_VE_P`(NP_Q?]!ZOT>WJ/[2Q_0;
M>VCT7;V/W%AR/5$4OLV[/4K^DNQ225'EX"8R7(R`K4\2DDDDF9__T_1?K#BW
MYO0.IX>,WU,C)Q+ZJ62!N>^M]=;=SRUC=SW?G+S3I/U]^L?2,6OHEE%;[L5C
M,;'IR*+:\ICB&NPZ[L=CV?:OU?\`0U554T67^RWUK/\`#>MI),>7BH</%U^3
MA_[M\Q?9_C.^LSV-;7;TS&8_:YPW=.KEK7/]1^]U_6;-_J>E^B_5-_\`Q5MB
MUN@?XK>EX;:[>LO&?<V'#%8#7B-=^C?K3/J9>RUEGOR7>C;79_0UW"22V/!8
MXKXNGN=_ZO\`D^+^XI))))F4DDDDI22222E))))*4DDDDI22222E))))*4DD
>DDI22222E))))*4DDDDI22222E))))*4DDDDI__9
`
end
</TEXT>
</DOCUMENT>
</SUBMISSION>
