-----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,
 Lgn30XlQDvEmBReWQDinwcxCZwwgGjlOMvZxt7bCKf7YxHmz4Wxr0BrMypBymjpM
 NYBgsSJvRqiwU7zDLDKlZA==

<SEC-DOCUMENT>0000724910-07-000010.txt : 20070720
<SEC-HEADER>0000724910-07-000010.hdr.sgml : 20070720
<ACCEPTANCE-DATETIME>20070720161144
ACCESSION NUMBER:		0000724910-07-000010
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20070720
DATE AS OF CHANGE:		20070720
EFFECTIVENESS DATE:		20070720

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NVE CORP /NEW/
		CENTRAL INDEX KEY:			0000724910
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				411424202
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12196
		FILM NUMBER:		07991700

	BUSINESS ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344
		BUSINESS PHONE:		9528299217

	MAIL ADDRESS:	
		STREET 1:		11409 VALLEY VIEW ROAD
		CITY:			EDEN PRAIRIE
		STATE:			MN
		ZIP:			55344

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PREMIS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>defa-14a.htm
<DESCRIPTION>DEFINITIVE ADDITIONAL MATERIALS
<TEXT>
<html><head><title>Definitive Additional Materials</title></head>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="5"><b>UNITED STATES </b></font></p> <p style="margin-top: 0px; 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, DC 20549 </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="4"><b>SCHEDULE
  14A INFORMATION<br>
  </b></font><font face="Times New Roman" size="2"><b>Proxy Statement Pursuant
  to Section&nbsp;14(a) </b></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="2"><b>of the Securities Exchange Act of 1934 </b></font></p> <p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="2"><b>(Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;) </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font face="Times New Roman" size="2">Filed
  by the Registrant&nbsp;&nbsp;</font><font color="#000000" size="2">[X]</font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font face="Times New Roman" size="2">Filed
  by a Party other than the Registrant&nbsp;&nbsp;</font><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font></p>
<p style="margin-top: 6px; margin-bottom: 0px;"><font face="Times New Roman" size="2">Check
  the appropriate box:</font></p>
<table align="center" border="0" cellpadding="0" cellspacing="0" width="100%">

<tr>
<td width="2%"></td>
<td valign="bottom" width="2%"></td>
<td width="46%"></td>
<td valign="bottom" width="2%"></td>
<td></td>
<td valign="bottom" width="2%"></td>
<td width="45%"></td></tr>
<tr>
    <td valign="top"><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"><font face="Times New Roman" size="2">Preliminary Proxy Statement</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
    <td valign="top"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font><font face="Times New Roman" size="2"></font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td rowspan="2" valign="top"><font face="Times New Roman" size="2"><b>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</b></font></td></tr>
<tr>
    <td valign="top"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"><font face="Times New Roman" size="2">Definitive Proxy Statement</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td></tr>
<tr>
    <td valign="top"><font color="#000000" size="2">[X]</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"><font face="Times New Roman" size="2">Definitive Additional Materials</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"></td></tr>
<tr>
    <td valign="top"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"><font face="Times New Roman" size="2">Soliciting Material under rule 14a-12</font></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"></td>
<td valign="bottom"><font size="1">&nbsp;&nbsp;</font></td>
<td valign="top"></td></tr>
</table>
<p style="margin-top: 12px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="5"><b><font size="6" face="Arial, Helvetica, sans-serif"><img src="nve-logo.gif" width="276" height="55" alt="NVE logo"><br>
  NVE Corporation</font></b><font face="Times New Roman, Times, serif" size="2"></font></font></p>
<p style="margin-top: 0px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="1"><b>(Name of Registrant as Specified In Its Charter) </b></font></p> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p> <p style="margin-top: 12px; margin-bottom: 0px;" align="center"><font face="Times New Roman" size="1"><b>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </b></font></p>
<p style="margin-top: 12px; margin-bottom: 0px;"><font face="Times New Roman" size="2">Payment
  of Filing Fee (Check the appropriate box)</font></p>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
    <td align="left" valign="top" width="5%"><font color="#000000" size="2">[X]</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">No fee required. </font></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
    <td align="left" valign="top" width="5%"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;&nbsp;]</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </font></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(1)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Title of each class of securities to which transaction applies: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(2)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Aggregate number of securities to which transaction applies: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(3)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Per
unit price or other underlying value of transaction computed pursuant
to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee
is calculated and state how it was
determined): </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(4)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Proposed maximum aggregate value of transaction: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(5)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Total fee paid: </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 align="left" valign="top" width="5%"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;]</font><font face="Times New Roman" size="2"></font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Fee paid previously with preliminary materials. </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 align="left" valign="top" width="5%"><font face="Times New Roman" size="2"></font><font color="#000000" size="2">[&nbsp;&nbsp;]</font><font face="Times New Roman" size="2"></font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Check
box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the
previous filing by registration statement number, or the Form or
Schedule and the date of its filing. </font></td></tr></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="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(1)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Amount Previously Paid: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(2)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Form, Schedule or Registration Statement No.: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(3)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Filing Party: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>
<table style="border-collapse: collapse;" border="0" cellpadding="0" cellspacing="0" width="100%">
<tr>
<td width="5%"><font size="1">&nbsp;</font></td>
<td align="left" valign="top" width="5%"><font face="Times New Roman" size="2">(4)</font></td>
<td align="left" valign="top"><font face="Times New Roman" size="2">Date Filed: </font></td></tr></table> <p style="font-size: 12px; margin-top: 0px; margin-bottom: 0px;">&nbsp;</p>
<table width="99%">
<tr>
<td width="10%">&nbsp;</td>
<td width="89%"><hr align="left" color="#000000" noshade size="1"></td></tr></table>

<p style="page-break-before: always;">
</p>
<hr color="#225EAC" noshade size="1">
<table width="100%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2"><b><font size="3"><img src="sml-logo.gif" width="94" height="26" alt="Small NVE logo"></font></b></font></td>
    <td>
      <div align="right"><font size="1" face="Arial, Helvetica, sans-serif">11409
        Valley View Road<br>
        Eden Prairie, MN 55344-3617<br>
        www.nve.com</font></div>
    </td>
  </tr>
</table>
<hr color="#225EAC" noshade size="1">
<table width="100%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td height="12"></td>
    <td valign="top"></td>
  </tr>
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2"><b>Fellow Shareholders:</b><br>
      <br>
      In fiscal 2007 we continued to advance our vision of practical spintronics
      leadership. As the charts show, our business strategy drove growth, profits,
      cash flow, and liquidity:<br>
      <br>
      &nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Product sales increased 73%<br>
      &nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Net income increased 166%<br>
      &nbsp;&nbsp;&nbsp;&nbsp;&#149;&nbsp;Cash and marketable securities increased
      $7.4 million<br>
      <br>
      Other fiscal 2007 highlights included expanding our product lines, expanding
      product distribution, strengthening our intellectual property portfolio,
      and investing in the future through R&amp;D and equipment.<br>
      <br>
      <b>Unique Products</b><br>
      Our spintronic sensors and coupler products are smaller, faster, and more
      precise than other products. New products in the past year include the ultra-high
      speed S-Series Couplers, Micro-Small Outline Packaged digital couplers,
      and new sensors for medical devices.<br>
      <br>
      <b>Expanded Distribution</b><br>
      Our products are now available through distributors in more than 75 countries.
      We added leading distributors in the past year including Zhichuan Information
      Tech in China, Takumi Shoji Co. in Japan, Elfa AB in Europe, and Newark
      InOne in North America.<br>
      <br>
      <b>Strengthened Intellectual Property</b><br>
      Six U.S. patents issued in fiscal 2007 and three thus far in fiscal 2008
      bring our total issued U.S. patents to 44. Most of our patents relate to
      MRAM, a technology we believe could revolutionize memory by combining the
      speed of SRAM, the density of DRAM, and the nonvolatility of flash memory.<br>
      <br>
      <b>Investments in the Future</b><br>
      Growth has allowed us to invest more in the future. In the past fiscal year
      we increased R&amp;D expenditures 26% toward our goal of developing revolutionary
      new products. Contract R&amp;D funding also helps advance our technology.
      Capital expenditure increased considerably in the past year, and we believe
      those investments will allow us to manufacture more products more efficiently,
      especially our smallest products.<br>
      <br>
      <b>A Bright Future</b><br>
      We entered fiscal 2008 with a strong balance sheet, products that are in
      demand, and an excellent intellectual property portfolio. I am proud of
      NVE&#146;s accomplishments in the past year, and we look forward to a bright
      future.<br>
      <br>
      Sincerely,<br>
      <br>
      /s/ DANIEL A. BAKER<br>
      Daniel A. Baker, Ph.D.<br>
      President and Chief Executive Officer</font></td>
    <td valign="top" width="187" align="right"> <img src="charts07.gif" width="160" height="547" alt="Charts: growth, profits, and liquidity" border="0"></td>
  </tr>
  <tr>
    <td colspan="2"><b><i><font face="Times New Roman, Times, serif" size="2"><br><br>
      Statements used in this letter that relate to future plans, events, or performance
      are forward-looking statements that are subject to certain risks and uncertainties
      including, among others, such factors as uncertainties relating to the grant
      of patents in the future, risks in the enforcement of our patents, risks
      related to MRAM commercialization, as well as the risk factors listed from
      time to time in our filings with the SEC, including our Annual Report on
      Form 10-K and other reports filed with the SEC.</font></i></b></td>
  </tr>
</table>
<p style="page-break-before: always;"></p>
<hr color="#225EAC" noshade size="1">
<table width="100%" border="0" cellspacing="00" cellpadding="0">
  <tr>
    <td><font face="Times New Roman, Times, serif" size="2"><b><font size="3"><img src="sml-logo.gif" width="94" height="26"></font></b></font></td>
    <td>
      <div align="right"><font size="1" face="Arial, Helvetica, sans-serif">11409
        Valley View Road<br>
        Eden Prairie, MN 55344-3617<br>
        www.nve.com</font></div>
    </td>
  </tr>
</table>
<hr color="#225EAC" noshade size="1">
<div align="center"><font face="Times New Roman, Times, serif"><b><br>
  NOTICE OF ANNUAL MEETING OF SHAREHOLDERS </b></font> </div>
<p><font face="Times New Roman, Times, serif" size="2"><b>Fellow Shareholders:</b></font></p>
<p><font face="Times New Roman, Times, serif" size="2">The Annual Meeting of Shareholders
  of NVE Corporation will be held at the SpringHill Suites by Marriott, 11552
  Leona Road, Eden Prairie, Minnesota, 55344, on Thursday, September 6, 2007 at
  3:30 p.m. Central Daylight Time, for the following purposes:</font></p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.
  To elect five directors to serve until the next Annual Meeting of Shareholders.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.
  To ratify the selection of Ernst &amp; Young LLP as our independent registered
  public accounting firm for the fiscal year ending March 31, 2008.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.
  To consider and act on such other business as may properly come before the meeting
  or any adjournment or postponements of the meeting.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">These items of business
  are more fully described in the proxy statement. The Board of Directors recommends
  that you vote <b>FOR</b> election of the director nominees and <b>FOR</b> ratification
  of the selection of our independent registered public accounting firm. Only
  shareholders of record at the close of business on the record date of July 13,
  2007 are entitled to execute proxies or to vote at the 2007 Annual Meeting.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Our Proxy Materials include
  our 2007 Letter to Shareholders, our Annual Report on Form 10-K, and our 2007
  Proxy Statement.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">This Notice is being sent
  with paper copies of our Proxy Materials to registered shareholders, that is
  those whose shares are registered directly in shareholders&#146; names with our transfer
  agent, Corporate Stock Transfer, Inc. &#147;Street-name&#148; shareholders,
  those whose shares are held in the name of a bank or broker on the shareholders&#146;
  behalf, are being sent a Notice of Annual Meeting of Shareholders and Internet
  Availability of Proxy Materials. Street-name shareholders must request paper
  copies of our Proxy Materials.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">There is a map containing
  directions to the 2007 Annual Meeting in our Proxy Statement if you plan to
  attend the meeting and vote in person. Alternatively, you may call us at (952)
  829-9217 during normal business hours for directions to the Annual Meeting.</font></p>
<p><font face="Times New Roman, Times, serif" size="2">Sincerely,</font></p>
<p><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/
  CURT A. REYNDERS<br>
  </font><font face="Times New Roman, Times, serif" size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Curt
  A. Reynders<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer and Secretary</font></p>
<p><font face="Times New Roman, Times, serif" size="2">July 20, 2007</font></p>
</body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>sml-logo.gif
<DESCRIPTION>SMALL NVE LOGO
<TEXT>
begin 644 sml-logo.gif
M1TE&.#EA7@`:`+,``)&6K@\0%#0Z30$@?`8GB5MD?N;I\B)>K/____[^_OW]
M_?S\_/O[^]?7UWIZ>O___RP`````7@`:```(_@`1"$0`0(!!`08&"G1PL`""
M@P85*@00($!$!Q4S:MS8`,'&CR!#B@S0<:"#`0<.#``@40`!E0Y/ID0H$8$!
MERH%/'R9LJ?/E"0-!/A)M*A1HP)*"L0Y4^)0E2PISE1J$N4!DAZ/^@Q@H*#6
MKV"O)ASX="9+@0V>)D60-N5*B0T$N'48-R6!D3HICMS+UZ+"MCT)Z!0(P"I7
M@4\'.)!8P'#"PFX!&)A,F?+`RI@S:]Z,62+DK6,;'Q`\$"?I@755+D8@^L#:
MFK!CRYY-NW7BU3@5#VP]>*E5FCN;TAY.O/C2EW=Y!E@:>>#GUX#?(K8KP('U
MZ];/`L#.O;OW[]S/_I*=JQ9`ZM=LRQ\?W1NPR@'PX\,?+$"^_?OX\]OOG7[J
M4P(%/#>638E%I1YA5AVEFT<\A>6@3PLN])L!,EU5`'+\9053<*<)U)I^6'FD
MWX@DRA>`>`^A1)I0;@7P4H3KN>;5552Y"!0`..:8(VHZ]NCCCT#J2)6&"S)5
MH$055C270BR.YI!Q4$9YV9%L)3B59X:I155JTDGI)7$SHB>73QFR-29/,!+T
MFV2;"<39FW!FAN1O"E7(7DU-]H2>AUF*9$!:?04:TH`</HG6F*K!ABA4-2UZ
M%$*I/2BI:S6ZM=IN:\+6FF"$$@@6:9]-ZF"'-D$T)*`5#4D81"BB%>ABU'H)
M*FM%EWYIZZVXYJKKKKPNQ=)J.+)UED4"M,H:0R7%91U9`@2XD$&75E=`20P)
M<-A2J\5ET5F#&5``1B45BX`#0QI$H9LQA1M;L'\B1ABW"RW4D0./#2LO0<D6
MI!!_@TU;ZE((D=M2`PSM%M>PU@TIL$)/$HP81JM!'+&ZXP8`KKP%#,CO4B8M
M1?">#XW;VW;BE?DN6[B='/)#BRVL\F`"FX>MLQR7=N]-'".+9,U+:9QP30X4
@D+&KWW8\;E0*%_":S`UTU,!9E]:ZVDT7C^NQ0@$!`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>charts07.gif
<DESCRIPTION>CHARTS: GROWTH, PROFITS, AND LIQUIDITY
<TEXT>
begin 644 charts07.gif
M1TE&.#EAN``[`L0``/___^;FYL[.UKV]SJV]UK6UO9R<G(24Q7N,I82$A'-S
M>VMSA%I:6B%:K4)"0C$Z0BDI*0``````````````````````````````````
M`````````````````````````"P`````N``[`@`(_@`;"!Q(L*#!@P@3*ES(
ML*'#AQ`C2IQ(L:+%BQ@S:IP(H*/'CR!#BAQ)LJ3)DRA3JES)LB5)@BYCRIQ)
MLZ;-FS!OZMS)LZ?/D3E_"AU*M"C0@4:3*EV*$RG3IU"COG0JM:K5I4&O:MW:
M,RO7KV!C>@U+MFS)L6;3JD6K]N8`!0,,)(@Y`(`"!VNIMMUI`$(```$8N&0P
M-P&$O`+W]H0@N*.`C@H4)&`0P$`!`X$I.TAPN0`$!P$,3_Y+EJUBNA#F@C0\
M@`&$N@X,*#@,00%F`*D!&`Z0N[3>TS1YJVY-V3"``:\!.`"=VK6!CKF-]PYK
M&GA+"(<[+M=]F#=LP=AY_A>`7IBV:NJ_K<L4D)NWX-E_$R0(`!J`@>>-<3LH
M,!NW@K+5J<>2``,,0%J!CP%65T<!_$4:8(\5&$"!`*8GX(5*!8CAAEU9R.&'
M'28&XH@_:4CBB2R9B.**)ZEHTH,L?NCB2`(4P!E@YR7@0'XB"6!9`4`&*>20
M1!9IY)%()JGDDDPRF>!4(LHD&(7T>73>2`4<<``!7';IY9=@ABGFF&26:>:9
M:*;YY%%1QE0``PLJU]$`#D"PID<!:*EEFGSVZ>>?@*IITHPC(3>>G!ZQ]]&$
M!NBY9Z"01BKII%[>&1*A(?WEF78@\3BGHUM2*NJHI(YI*4B8KG9<8W@!($"#
M_U=^ZFBIM-9JI@'+Y:JKKM.QV0!--<Z'8UV7G3H`J+8FJRR7"^S(P+/01NO:
M9H-ZR!*,)QT[Z[+<DBKMM\_6N5RLEUHKE+9Z=JONI.!^Z\`#N9*+JKD_H?OH
MNOC^*9E\_/8K'P.ZROM1JC39&VJ^"*>YK[_^`AQOM6TF97#"%)^Y,,/\.CPN
MQ+\R-7'%((MY,<:3!<SQ4Q^'K'*7(V.L,;5GT>M3RBNKW#+#+POL$<$ST5PS
MR#<W;'+,$1OE\\\4!]UOSB=[C"S2(2N=\=!0=KS4T5#G*_6_5/N*\M-9)TWR
MTEV+Q+-,6(>M[M8E/TRTU4JEK3:W;#/]=DH3GMJ2W/YS*UMWV>46G6ED\L%5
M,-A]K_NWVU6_>.>K/2.>>+>+;WSW21/:I_=*?$].:^4P-X[Y`&_JK%+GGI,*
MNND`F!B`9Y75A'KJHJ[>-.8-QHFVY+3;:OOE)\DUF>R\]_[YV%,S[G6V"13(
M.DJS&Q_I[Z*_"%=<Q&\KO>_(<ZV\V3)W1-CPAVN__?'=VUW]29!GG^[YM5*_
M_$D,2'9HY.;#/ZK\X`L>4ONZHTOQ]"<I_@4.;B1Y'8[<=R\"UJY[;;/<^DKR
M)LHP\&`.I)0!Y^4_D$S(>1?,X/X@J+[YC20T@?E7"$6H01("CH,(3*!C5LC"
M`KKP>P<TB0!VE1W\O:^&T_Z[H01-2*./!-`ET0,BF38X,'I]L$`#B-6$A'6<
M1!DH).A"P`(0P,4N>O&+8`RC&,=(QC*:\8QE'!_R2MB_&'I0C>3S"&6BZ*KL
M8,]3Q]'2`AJH1'T),71$%`F,[B2?.+6J,53TR+'VR,<^]HF).W-B`>BSG!Y:
MJ3Z(:E7S0#(`1C;2D0K[(^LT])<%'9$[G`(`(N^41%!^"9(=4=$'G_.1Y[0F
ME0:H"QY;Z4J6B?)V)4EA'#MBF00\)C`+*L``+,7+7A(`EJT+GP(!(TC.#="9
M8X*FZW)E20'F#YMETF;X:C0G&H+33.+LX**:1\?R_?"<X?PE\$PR/CSN[9KP
M]/]2.MVX*&Q1<W??S">8]IFM^T71G]8,J$#U*<\)TN@N#*"E#S])0`2T2UH+
M$%E#`UF49B8.8!<-%P0R&B:".DVAVSN`LT+Z`'B1=*`;;>/74&H\!'QF5SB]
MJ0->^LJ8YA!S\^F5-]^I/]#QE*'I>V$3U:E(55+(G125GE$UFE0<PC`E\A'`
M\[*%S]Y-M:0^O2I*&K2YA!(5?E^%:56'*%/,150WYBSJ'X_JR[4"LJTZG!!O
MXHK6N5)UC4J-)%,]@BL(2!2@9SU?6GMJUU&&;U%\5:Q?P=I88/:(AY'=WF*1
M"EBK+I6?'UG3*5GBT;!MMJZ=9>M/1]?.B6)0KG:E*Y?^3&H]PMB3M%VEW6EG
M&];/HJ1&K]JJ24J;M=T^L[>"!2U(,!.9S$IULFI-[5U7>\(K:A6AN*6I5Z'+
M6.DZEJFQ8\]EG&L\X]*V4(!)SFC-&M7R<I>S8V,C=04)L/_`%:JO[6ML_QK?
MP,929@%(4"[)N]W]4M:[EC5:;E-G7N3^=[`](6ZMSF@`_I+L9;(];F7G*4,&
M$3A-!CACF7`5TF?!R\(NTU6&SWM"=MX2O^PJ,<`@0*9FR?@S#$`QSE2L8Z%Y
M-KDH6=C]$-O>,Y&XQ"VEL9A`&E)Q[:C'9,O5BAT<30@#8#P-^G"-5WK1FRH9
M3`N0\;26D^,#]U?*4$Z>:L7^JD/5V)=&-SJ.?+"H)RVB,8Q,#JE.(2!&.(Y-
MIP[H\Q\9(.@-.U20Q^SFHN!"(-TLD\X'X&)^TP1!^>Q93)4V3*[*'-TS+V?*
MAN:H2`S@G`3&9DZ,\><B$XNF3%\Z3*[>=)J]]^E91W"Z;,9;27:8HU89T9.3
M;G6E7PVF6)/9UAA&MG^KK%Q%ZFJX;X4.I%E])F/7"=/#EK69+\SC;:?XQP]N
MMH<[HC-;MI9<Q+7VE[]D;4YWU],[53:XF?W;9]-(+N,II*H7C&T($IO=V3ZV
MMW>,YH'[>,V^Q9Q*L&M$?L,ZX-=^N+^UW6EN%[SBWT8XD(/9,"WWNWO_]E*[
MY5W_:X-'6>/A#IZ-0`AC0*G[X\C3J;OA:_&28YS@**<W[L3G<8F#G)LP_S/%
MWUWS>)M<S;A.>/!*W?(_O=SG,1\ZS3-N])L?/.D;_RW#V1OL:D-\W2*'^,Q1
M"V]0(YC#)*E?G%T;J*<76^PDKSK1J?Y=<;OJ0#U_^\0K&722R3SN9H=WW<>*
M9>&6)-U?[SO&_GYT6LM]ZCC'>LI14L&MIP3Q>X^XWG\N<*N?_/%D+_K@,6=?
MRT//X9N/.M^A+O3.SSWR@1=]@NFKPJ;[R>T`S_S8>6M@SR-]]"=AI^%)@GG.
M:S[WQM^]AJ4;>[K/'B2SN2T248]\U1\_[+H'?-R!WV+-_KG%46A4/,-"WJ61
M-_[6S8\\]T42I[J4]?)ZRG.[KE_^Q+/>[U(//=73?_7U8Y&;=4(\",!E[9)D
MXN<OY,<EYN=[CL=_G^=_(-$^Y50P-E9B7G:`_9*`!+"`KW=U#OA[SS<4=')C
M0'=_BU>"J==Z3W9^R<:"RW8V=%%IO(*!_**!'`AY'KA](7@N,HB"U:>"8%=_
MV>>"%]>!#[B#]=*#JY>"^+>$/]B$*\B`Z*>#:-=12DA_"FA_3'B"KH>#G_>!
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MCE.(C>^X$K<!(>P7AZ"B)POP=?^H1Q#G``-Y`'Y&=0QPD`F)<P]P6*`8''!B
M`,$5&EBDA`^```<9D'OW``=Y`!SY<P^PD`QY0XSQD0WI8P\P9*+F$L@$&`KP
M%S')2?\R.)(?"9+#=I(?&9(Q-U(WF9)DDY$_>4.FIW,WT1>/H4D!1!P6N%,+
M\)10&95BYAH,$)56^913R1A7:94$""YULI5<*6,/\&8M,HDIX1ET0F[K%2/H
M8670<QQD*)-L>1JKV!&7D0"8$1K8,Y=[49>)PI9%Z1MN>1,Z\A]Z^1P^0I%7
MI@#2%P!W\1R':1\'-2<ZXYBGEIB/T3RJH2/2)P``\QBY)"R:R2!K%Q*5)YGS
M$9EW$8`HX9=:YU3"\A_V%9-_(7V'<ABQ:1<+Y)@Z<YNZ:1<^HCF!L758AA>&
M:4S/09$"0)8B,1YRH9NAD9L.PIS".!0QJ92MTBK/24^(PB__G*),SR,8V;E)
M4:15AF4][;09=1%%^[&/)`$DZ:F4Q/1^6:<4%HF=G/(Z?G%XL$%N<Z8<K]):
MA=*?RD&>JK%7)3$?Z6F@W:%HJA*?:@D9*N&:8^5F,AD8/$=N#$=.=G&AAKDO
M`+->'-H8#``D5W8_TG=EQ_2A)@HDK)*@TPF3,SF3CCFA9FD3XS-)\S$7RD0Z
MKQ,[)S0^%5D8*$29"22D/3H>LJDY'-HCXX-"N?D?QF21(Y$`^Z(;*`2E=LF2
MY.@33^0@3Y)EQU%63\0@3R*!8BI(4,0@#[(@>K5K".(8;8HG905%I-$^`88G
M*T&A?'DA?-JGZO&G/_%!N6-Z3W1%_]64*:3QI@R"J`GD3YFCIT4AJ#_Q+.)3
ME(8#I,LE+W#B$?TA/M09$IVZ*#9BF*-*%)3JI7YQ&WEZ=VQJ)76190VRJ#:B
M((FR2>3F`+%*&'.RJ&#J:&L2HXYF%*DZ,Z>V3,UC&3$Y&6]62((A7GB!&?)1
M&5J%I:?:/'@QFI0A&.-#D9PA'V\26OL1H9-ZHUIQ2*1C()[)<A%*2WB!%U/"
M+W%1K;@*5W8RFA."F[H$JXB")]E1KT-1K#Z!KJZRK.PZK-3TKK@A9\\I`)Z)
ML'#5%U.D2G*R2?NIE_WJJ>2*JN9J%>)51_,A&?6TJ(1!.@S`'KQ1&;9%'R>K
M2HQ)2R\II?^:@2NE8Q^UD4+(01HK=TR\6JZ#":@L(K!`FQ9".[05\K-&2R)%
MF[1@L;1,RQ5.^[1:$;52:Q546[52<;58"Q5:N[5,T;5>FR$=&[;``;9DZ[-V
M=[9^.K9JVQ9FV[8EPK9P:Q9O.[<\4;=VJQ-X&Q4$(B&8\QCTV;1R^R&\`0&>
M`9&<Q!CP`;%$.[@?\AG*X1<&(JL)XAH.BQE],1>/1K>.RR&0&X",<5,."Z]^
M@9:9"QJA"K6=NR'8T1?/L1RAD1V&91S(42"O\1FINQ5[&Q78\23;81RX86G'
M\1JUNT.,P;E(BR*0ZQ';@:!^0;O$:[B:ZZ"ZN[H7,H(D:T&D,V#_=U$9^Q$8
MC-D9R)NV>=N7UEN^5GN^Z)NUZKN^7-N^[ONU\!N_8IN\]%N]]IM`$N6H)^2P
M_ON_`!S``CS`!%S`!GS`")S`"NRP^8A5P:)*&$LC!U``"R4J7)IK-7&R5U2Z
M%WQE6D+!%3PI'5R?-4$?]L4>B`L8C@+"(1PI(SQY.P$PNH$K,%(@P,;"+1PH
M+VR4-K&>"ENK(*&1>H+#.?PG.^R:WYIO-N)/0OS!10PI1]R^]-G$$_S$.MS`
M.T'%1&S%:1+%^3L36LS%1HS%.A'&8MPG7DR^6;S"9XS&9'P39MS&:)+&4!''
M;0R65IFB/*P4=LS%`WACU$O"2=''3UR!_Q<E+H$,PS<!I'UK*4U\9Y`<R9(\
MR9/<E=_R`%[VQ@GZP(317$&L)5RTQ2UL421829J<=@0BIHKYR8PDRB&,`%]W
MRB?D`&09JEHTQ&(,RW0HRVG7*C5J1)W$QGX<RUV:0.#*2<>AG:=$R*-,S-59
MI>QD(T^2Q!(J$LS\RL[<DD44@=QL$M=<P;K,BYK\*E3:$M^\4.%\C)H\2?NQ
MPR-QS@*5SD"XSEFUEB0!S_DDS_-XRA$2F)^,R\.\R\7<8O*1PB>!S_"DSZ^8
MR'N<$G!2(.YLS<)LQ0J=B:SYS%7:H_;\SA/]Q!5-BA>MS23A+RZ!T.?TT1G(
M3:>\Q(E:$E1,R?\P'=,R#<D\.<\#/6K)6L,V,AS&%!)"',JYG,T1>99-)4=O
M>A\<+6FN#,Y"/5]GJ4PMFRCGZ1WNZ1&W[,0!+<XWW9R)Y*_-\Q\O-B?!#-`4
MW=08K'!]NY<>EK.JX6M6W=%%C-(UJ-);[1$ZVB\?01FU&I.DX]-PG<-R#8BF
M7->0-8&*)%$2^!$F#4Z!38TA/=3TM"O#]]9D[=%FK72Z%EHE_=?-+-`8O:G]
M8M#>S-G8[-DB'1*Y!$5JO1*+C4V-O6>\_$\LT=K.]-IT_=D?,4G"\Y^S3=I,
M;=J0'4R262"B[=*^C<Z7+<@56M";7=EQG=R*K!+7\U2%+:F*#7XSG=W_VJW=
M-;W/A$U8>*=(.PT8RW%$/XT`2XW<P.W4**$C0S1'\='!&JG40;W>9XT2B!U:
MYZD;KL'$GI3>\0S=#=W>_`*1PF$E5U(@)(G596W?F*T2&CUDI=1#J]T1M-U+
MMCW8N/V7R'RI2SP?56WAQQW@#J[<)G$?Q-W3ASTG>G/AKI3AC\W>0%6:K#WB
M^2S@5^OBH`3C#)WC-I[0."ZW_OS/#&[9)1[=*8$K]C'DE%WDSWWD`WX2RG1E
MDRWBS@W809Z\GKFXYOSC)YWE:KPHL=K<3H[E4)XJ=*):IJ?CCL3CFOQF,/(Z
M:R<O3;Q%VWWG>![)W;W0FIRNJSTE"Z(H?DW?_UFMSM\M/GAMUZ/Z.FYMU5M4
MYIVMU1N>VQRN2(9;18W>$3=<WY)^VB+AWH"D*78B&4(%`&S>1VY^Z*Y2Z7`5
MUIENZE[.V&#N$CMT5\'R("E\ZDJ4ZI-.6$5=W?<<ZZX]ZWO3J&1>Q85NT[WN
M&"#%Y%8.Z:7=Z<'M.*M^[`!^XV?>L3T]Y5U^Y9%NZ,M^9?YI[9P.[IZ>*89A
M0=T.[;\M[3*^<.2>[-X=[J!.+FLN[+5-["QQ'G%N(^.A5;8,D'D^\`0_1GMN
MT3VN[3=U)8"^ZH;SR;=\[4">[5K.ZF\2)^6LV)*&[#448F8D)KQ^[G8-$BQI
M*.1F)R&QZ34D9G6"`/]A$O+3/A(O$^I7UD-`?-W>?CY'QE+PXO)@`O/O?D(>
M]!&:^ZQ7QL3X/C>&W&6YXO-?`O3WO1XLW3P(I>LU0\I(IBM.[R50_^`V<>\Y
M7U-7&&@OK^\QX>RP'O:]T]B[LO5=TO4F;A)SP9OQ7E%C[_9<`O=(#CVS,4EU
MKS]LK_5E3_%A+CXENLJ]K?:T$_A-/_CN'O7#Q2`1[=>*GSJ,OQQX3P!Z'^79
M0CJ33^0<#_AW[_CF'O,C'1FG6N.5[SF73_8_;_8J@1D&4MS!OOJ3T_J9O_FI
M\CH[Q$K"4J24#Y(%/_QB=/#^LBMV_D7&G](:+O)&)/EY/45ZN9__O$<2?_O^
MH__ZA-\2CKTFA?1/*J[Q0GS]9<+R&48IN$_ZRN[\DNI/.O(@H:KR@;+S%]52
MYS\IZ:_]C^_U^!VM[@\0$```*"!@X,&!"`XL/%"`P$.($25.)+#``0.,&35B
MA.#`P0**(46.1)#`Y$F4)SVN1$"Q9$J8"3IZ%(C0)H`&.1O<Y'FSP`"""1`:
M`#"`05&#`6XJ9.APY$@&*Z5.=3#SXU.L3U_&1#FUY<2M7$U:K=D3ITZS:04P
M4`!!Z4$#!1(("!#5`5";3!<ZS3I1@=B3=CV"?+K1,$8'!EP"5BGUJ\2P8LFF
M/9N3<L^">&^^3:NW85^*?QD+OBK2P,7#&A\\>!S^,3)7KXL9RUQ9MJ?.G9=]
MOM6L^Z!GOJ`AB@9,FC!%BZDUSFP-\77,V&!GTZ9)&;=OFPI6"L7^F^%GX1&)
MBS4>DNKYJBQE,XX.>?KDM->[`PB@F7-WX.'%SRY/D0%_Q]8#K#W7WJO-.K2Z
M*P`""`J8+Z_O@@MO/*[ZF^B_T0*4;C8"G3.PNO@2Q(X[[AY,*$+]A@-PI>,D
MPK`X#=WC,,8"9X//+/FPPPLO!Q_,+T4"*(S)0A=7]*BYAYZ#J<,D/ZP*0<NZ
M(\V!$O%#$4@A82(RHA?)H]'#&=7;D+$;;Q/1M_OH,_''%+-,:4N(NJSPRR;#
M/%)`R0X,,4H3>QH@@;?_`DCSQ(40,/101!-5U%`YAY2*@441:%1+J198=('I
MIK)444QMU!/',_M$B('ZA*JK-^\.6`"\-HTL[4)7D21`R928G-5)VWC*452$
M3-(L`503,G0O((-TM44N8\43-CIO]11$4/GDM5<'W@*6)TN;*M9-E.!\:-(W
MFZ6U*W%QA3*W:6V2::!KE[JRU0Q9#`G<;LNUTP%9QSVI3%U#G98HH]@-%@`V
M]>,VL$KG57;,`>TE\U,SI4TWKKGH^XLGO=";"@(&0CK8)&\)H!=A,65DSV'`
M^+UIUW0'&M1=!%!3C@$('D!6Q7@'4SAG?)>%#N4\H8T8W9:QDU3FU-)[5:*/
M_A,(>620@6:VY!H?%KI?B8N^+*J9H[+JYH>:?GIADQNF&DRKG]R3:*TOFRYD
ML1/VC^RJS;Z3X:#5CI;MMM-Z6VZ_CMT9QK/K/+EP9]/.=65_^^[I;WE#$WQN
MGO/-5.J85+:)9<<?GSQPGL$6F6ZT[>X9;ZXT1XCSSF^"7&?)0Q_<2\3U-<E6
MVZG3>^C6*7M]Z?UDIYSPN\L6"W=SU^X[`*(&HHNGWQGX[CNHG5[I`>FG7ZAZ
MP5C37M7+/?)>^TX5/[?MN>0"`%!`75\1^^^W?W_5^+FGB7[RPQ\__V=)/5]K
M!@A@`()2@,7<ER$(X.][]MO?`@'T@/@MI'P#>H`#_B((/AL]H$I[:UL`'%#`
M/PW$`3=10->\M@`4IE"%*$1::AZ0P!7&L(6'>6$,5VA"CMC,ABG$(<T&AC6^
MI2LJ(03`"'MW1"0F<76-$Q50!C#"`@9@@TJD8A73Q3I1)4`N#C+`GUYF13"&
M43=8Y)5!Q*C$+YX1.V1LW5H<8)`NM@]8IDK`&\U2`(PH)8Z"`E;SBI@6//IO
MC@`0@`$,D!2/_'!]'Z1/'PEI2#,:H'T\"8!VB"+%`1!ECP'H"`3\J#PK.LB#
M`(CB7#3Y/"+RA(M"*67["DB0Q2%DE84$P"%?64`MJD4I#/`B*7WI2P68$3,#
M$8@K?2G%MR@@C4O,&AH5_D!$*CG15/X#Y$^XXQ&!!4``1JSFM?YDQ!$ZS2V4
M4:81@05.HV1R:W]<GTE$>)!77H:-O0,4-+TI%`$H()Z/*\HUS3D`H'#3+$*Y
M)S@/XDZS2)&=YQ1A+A/PR9L`=*$(-2(MQ\C$(Q;$@)4L@(,Z>I"C#%0IE;28
M,DGY)YE,L5=*^6A'0QK2HD`4(0HEI5*4^=(N]M,L`NB12949Q5LNDYE!/.):
M3(),8Q;0`/41INM$LSYD(O4@`G6J.PM8P)\,H`#(7*I9,+15]A$$H%O%Y1?K
M8A*ZA)5];X&I/#':1H":\7D#P4M]E@G0`3HO4$UM:D0!RIN#"(JN?;5)??Y*
M_Q]A"I:N:31L784Y5S7Y9IYJI&QE.S=9RV96LZ+"[&8%"!0!"I4^>,WK9E[&
M&;L&5I&!Y0ED1=NRSFJ6DT3)IV]J(D">\'(S`N7801I$&4[ZY(E*>:(28ZM9
M`113KXMU&6>,*%AMOD4`U])F<P7:%CWJMKKTD:Y21MA4I4R2JJT[KF:=!L>Z
MI/<H&)HJ0''I`#Q"E9<#F"Y>M]DK=_J*HX>$P%P`5:V[/+17U!SO9=^ZV9N@
M<ZGU*69OC`@PH;R1H.G\24@%"B@("/!:TXUP(Z>J4X0HH'D%=EQY-6O$<:[E
MC^UZI\M"^,:C`$NW:_%NKP"`D?5IU9I_'*6@1IA*NO[VB,1],[%E%P3'_A;Q
M-'@L$2<!&ICDUJ6$_`74-@TP3OI4JY!G93(#%F33_CK9:2#5*EVQ?,0B(UC-
M:QY(FMG\YLRZ&<YS/J.<Z7SG*MH9SWM&\X'Y_.<PZAG0@X:MGPE]Z-X)&M&+
M[HZB&?WH_T%:T@9NYJ0MS2M'7]K2F=:TI#G=Z4=_&M2+%O6H#UUJ4P\:U:G^
M\ZI9O6=7O_K.L9;UG&F]V4HFIE<]\EN/I/AC[JRVLK?>[+J&(M.;&/*@`JGM
M:>!,;//:1LI2["@K`;Q4MIR59J2L%H/J2*J*:1;:F37V5#V"RV(*),DK0??Z
M!(+-)R%;C>.V;+E%6!6"IO\;`.O&M[O]C<TKQP7!]*YLN2/<[W6MB]])3OB[
M47SF.!O:TMBMI%`Z(A.C"&1!M-GW!R'P1+>TY<:>7%];(UYI4#?VKX85U'1K
M(JB1_E4`=!G@88&B37G/6^*UQJZ)4KKFV'*8L)-F>9^$76=#2[&+F>QJK1F-
M6<(.W>FMWGG->3UU1,=VJ?"5.M9AO7,#\'*KF_'ZUU%NVM0&5BY"*0!\!_*3
MKM,G+AVE>]WM?G>\YUWO>^=[W_W^][_GO,U5/TEO@/57![TQIR9'R``64BS(
M1U[RDX_(U8&(G?EJ-+"ZME9=V#7T`C"$\J,G?>E%8GG&G3T[]BULD@=2P'^Z
M2_3^IJ=][2>/^LWM7#3/G&E1`@C5&[-K4-.S??&-'Q[<#Q4[S)OD0?O)O*RJ
MD_$`(/[QK7]]BB3_(+%]*)#I(Q<^'I60I;5)];%__NMK?_"JE^5!@O5:A)@?
M_?.WO?HK0U3H:77Z#Y(__?U/>ON++>93+%[IO_\[P,@+P*1KIP3@O6DQ0`2,
M0/U00/:KI1S3JJ.[#`B40`F,&8V!F,M[$/A+BPWDP`-,CIFIBEA2OLN@B@RD
MC!(T0?J;(<-8C=T)0<H`K[CSC1B40>P[`.SI&M79/D,C+;Q*EQ[T0>O+':E8
M02*LP"YQP`+\#B5$0"8$P=3#O]Y#B!W4C22LPN*[PJO_R4+=(`J[^#@DI$(P
M]#\QO$$RO`SB<IDNU$`U7,/Y:T,G7#\M+"S6>\`ZM,/SP\-(VYK"2\/9`\1`
M#!\WS+T*9!?6\L-#1,3K$T10THTS?$$2_$-)/#Y*Y"#?X([MFL)(W$3CZT3>
M^432,L3'(\4E5,0\O#_LV#U,-(LO9$7),T4<3(M!&<&>J$5;A#Q<?$/@&KM'
MXD6>\,5?!))@9,0]#*PZHA)C/$9-3,;26T86#"-DI,;PL,8G;,;6R49M!`UN
MU,.6J:_FHBN$*C^&V)1(:4=W?$=XC$=YG,=+<<5!])VZH*:!B(L0.A6!&;I"
M48API+UQA$7?R"2AZ`VCX+4-_^.8ESF`83F`@32]@HRM`OBI-%D0O&"Q.L*6
M:9S(R*O(G2,D`I2E<6(Q=E+'403)D+3'2B3$];$)"#,(E%0I<&1)D1#)1BP*
MH/B]@ZBVF[L8_9+&E<1)971)3]2-C-NG1\2.FS1*U/F9,61&$9Q#&/Q(J-Q&
MI#Q%W^FXJIC%7L3*K!3'K<Q%X#I'2%S%L3Q*.WG%V.*1:+R)IUS+Q+$;MTRZ
MMO`(?125N5Q+G?1&EVE*OA1+NM2*LA3&M#!#F@!+HE3+PA2.O]2-.$0L593(
MQ]3*MKS'M("IN%1)Q[S,K(A,WY#%R@1-R#Q,JO2-I?N)TC3-OA!-I00HP7-*
MPG3-NO\Y'BQ,34L$F<Z,O]JT3<.Q2\V\#,T3Q<\$3I]9DMR\QLN8B;WLD[X<
M2]B$P[:)SJR<3LH@%>9I&>N$2NP$I,]K3>3,2=1D3M_))(B#SM\$SN\$I.8S
M3LLTRM/X0)JPG,Q\2<JXR/K@SO5D1114CO2PS\-91//T&Z!X3_4L2FW$H1<J
MGMN<&@+M1NR0I"OKS8/H3@ZDP8VHH-HI3PF=4`1-T.-<4-()3MR<R@*%'H-X
M(I4RQN^@1QB-41E5%/MAD7J\SZ0$S^2:N?M@OE*Z.4>22PF2%6JL40<MG1.-
M4'(DSGT3)</["6LY4)LZ1@2@'YPTTM,Q'@B]RPJ4B2C:2P__BJ=KB3V;R)81
M+=(2K<LDY5+`/`C(&I78(]/1&@#/N-(T;<_Y("[>NQ:?&K[^E$0L%5#AQ$\3
M4:9>4@!1"BLA5=!D#-3DK)7E_-#E:RU0E"C*;,SXG$A'C4KE1%%)=1M2F4T>
M_%-$W%0ME4HE-4C=8,U@$D]-O5,/7=)5Y0C^9-1?--4'154V[8[JLM"!P%`)
MQ%4DW=+A3+"I8,Q%/=-&A54<Y4JUF"FKS$1;M45A-5%B)=2=PHAHE59EO55F
M'=!=]8UJ*0I?I3Y2/3X#V*$5(M)J5=-KS5'*:)[]3,M,A3QU7:&G^,^D2:#9
MF9,.;5:S[`FJJ-5N[8O3,*&.@`H3_VI0T6E7/"VL+:37R-/7PTB/CJ&(@Q7"
MR(&5RGE4<O%4674;FMC6L)S6PC`AI;G8B5@`E`6<(NE83H54D%55XJ0+^QM5
MD\U)'+(*E96(WVG8;QU4>$V+9SHO5\7,M.G9B/C9?G64?P778J4DN2/8>CW-
M9[F(D&#:X:&=([5678W:F7(:D"'9QF2`>T4AZ?'8?5D)I84(K>58XLG27.W4
M5.TLYHFK6M50U6`-M1T+MLW:SWG9N!74-07;FZ"+<J4^BCT,YNA;W6G;AWA;
MP>5:N1W6K\76GOB/F!0BO44,JR#<U/E;BI#<9('94Z7;<(W-&R/;!%M8S($)
MG@5<X8%;RO\%W<L=6K-8RI:I'N2Y6L@E`-*-DZ`M7,R5VDOE%=Y]W92(W=$-
MW-(=7,=M0L,=%4*Z"R&Z%]N%7=&=B.#]EN%]5V<%KCH*15%)WJ=-F>WU6><5
M7M.=6YFM6T.KC432Q=T<T,KU6NW52]F-6Z!M7\M%W>DE)`$^WHAZ*)J\B-RZ
M%W9$E`G*&WQ9%"R%%`@^EAN%VN(E(<&T"=TZ4*_"7L=E7NY=7^_U7_Q]W]3=
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M'F%2+N2/A=^=K`L(,*EI8>52]MM=/N)>MN%?]F13%F9OS+CV6>5._E]#_MWN
M=>8U3N9G/&5#\S:3D,+RO>82_N1##F58IEU9SN7;:>,E]A-(/F9S)F)TUF9+
M?F9L#N83MB)D!F9=3N=7IMS^U>=SCN9^_ZZB?X9F919H7E[G+';:+59B@KNQ
M>LZ=,WYH@E;D<&%D\`W8W'7$6T[26782?&[F)`98Q,Q.;&-=3I9D;\YH9H9H
M-6YG-@;G"I2D7=J_^5CH?0[HDZ;I4>YF@'YGG)YF*>(84:U?7&YEAY[IC8YE
MB2YIE=9-OV$0![%4Y+UHD][?J&;GJ7;G;Y;F[A@+:X;IHGY<KY;E@B9JAA[K
MA,[!Q/7I@V[HH/[JB%[DB:[J%%4BNK9GH%[KJ6YKF_9FZ=7AWOEKC*;D;4YI
M"W9D2AHKEQX5KO9=P=9KX!GJPD[KPX;LF\`0<NX3Q>YJ1,;KF@[KFR9KW^"U
MR0:IRD[:R^YHV/\!:\P6Z\[VX]Q2&C2D9[1^:YG68Y3FXQSV;#>=J672O!YV
M[0%MH'5T$@OZG@:>ZNS1'B-E;@FBZ)T#E#Q2X8)8*D5]:;.Q[NM^%@B*G^A>
M9(Z)H!I-(/-61*%Z2TDJ"K-PNTJRJ4'AW0JZH/.&7?B)H/VN%_%F"`;2[TQY
M`*;$;<S`R)WZ+3F=*H35(77M(8XY6QRJBK-=W!J$H0AGT)MU8]UXTXCZCP8O
M.\J*K;Q,3S?=3VC\)1*W+(L4%&+<#),H"$Q:ZA9/(N[[$Q3GPE%+W$`;R<#D
ME3IZI4$J)#J^2)ZN"\YSI#U"QVRU(R.G22**BD"NI>W>I"#]DZX;\D;_4J<H
MYZ2J6&K,<CNZXA7!XB5:LJ77._.0WC?@NRH/J[B0'J5;2G,-NZM:8J5&,B9E
M2ZA=.M1?,F9C#N"K2^X'4::":K'XSLZ)NB:QJG*7@;V&DJ8!:(L=["AH,B>-
M;#H5'J4<,ZC7DZPBG*E-=L8<ZR>#"H`O2PN),B>*HCE(!SYPNB?GX6E'S'1V
M:4#?T\4.^_06LRBWZM)`.?`\Y8Z6BJ_@$[Z=ZBG[!JJH423->ZEC!RF_&2F@
M\JGI:C%*XHX^?:DU%_4*!/,PGQ;1<!`XSZJMVJJ<.ZNYD*JU<O*>,"I`07=@
M@JKB3+:G6BNI,E3M*W>IHO=DOZB=Q*UI:2S`_T)+^M+%(SQ>UTJCS^)ASJ@K
M8<.K[I+#%$\HBC]>`AS!BKYQ,.IXC\\S(,>S$9RKA'<_T7H9\O-Q3!OY.QO7
MR_#NM\.R*XOY*8J+$4IE%W?Y.;,RE#=N^MCMHJ`2=JFH0(FYYT.M@0@I+_[Q
MG=PSK:H)@CJH^I!T]_LR^AJAN$!TML#`9^(E@:JD5VKZC^?Y-\.DWW(:SK"P
ME.1)]LKYM7BR@'^QPAI7LK<BD'><C?RN`2@+(SH*@?HK!J^IPQ,*[:)[=2&N
M6#<NLU^S@*FECQNDMULZ)SLH/>_[BL,04DFN`#JO#(MT2U7[86O\D,>SO"]]
M)#I]U$\TTE_]9VM]USYG,]6/?2*#?=H?.-N_?7'+?=W?^:?O?5O##>$??N(O
A?N,_?N1/?N5??N9O?N=_?NB/?NF??NJO?NN__NH/"``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>nve-logo.gif
<DESCRIPTION>NVE LOGO
<TEXT>
begin 644 nve-logo.gif
M1TE&.#EA%`$W`*(```<C3$!.8GAY>@DW>2)>K+2TM.+BXO___R'Y!`D```<`
M+``````4`3<```C^``\('$CP@```"!,J+%"PH4.!!Q5*9%@P@$2)`1YJW'C@
M(L:"!CR*'$E2)$6"!4JJ7,FRI<N7)CD&($"S9LT!`CAJ%&"S)P`##04,Z&D3
M@,ZC$(<2I?FS8`&E2Z-*G5H4:$&A5+-JW<JUJU>B33<"F!H6Z<"948TV?"JU
MK%F'(:4.R'CUJ]VB#GG>W<NW[U>U&MG*S?E6X-BH=$$>7CK@9.&K4,%:)8C6
M+]?$E"UKWKP9<][(2P&;%4P4Y\/%I0D_)A@WJNF&J#F[5DTPMNS;N`?+S`K`
M\5&LC'V?G>IY-?#0DP>VSEU:.&GFT*$WYFA[*>VCE24_U(MX->OJ-*?^KP4=
MW6W2Z.B9FU>L=;W8MCO)UQ2].H!\FL4AIL<;=+]_SO2-I]5K1RU'U'4HW4>`
M>TBEU)9P`F677GX2_F>A7?D1Q!UOH]U'H$/@$2!>?7)EV!%9`:2HXHHLMNAB
MBA"^*..,--9HXXTXW@AA9EOUAM1Q/8T(XE0(-A@B@P829:)W3#;IY)-0ZA2B
M=4A5.-]N4BWYWFR!*2ADE&"&*>:8'"5)%8,%A:CEADJN]IQ/R=755IQDUFGG
MG=Z]2=6'#YE94Y$)PE>8G^$!&B%9>":JZ*(;67FF3GH66F:(7^H$))Q;1F4H
MHYQV"J:C9.TX$)LV50J;7*+"16FJD8:7JJ?_L,9:V)198AD:=D2^=2E_\<TI
MZZ_`%M;JF7365JNEQ)E%Z(*ODLIKL-!&&Y2'E!JZ[*:C*AA@KXQI>>*QTH8K
M+:@`V">H0ZWR^="PVZKJZT;+JBONO+`>&>^.SC)5;$/W8N<AM@>PNR^]!">Z
M;$:@$I`AN695"ZF]EFI;\,2=#IN3P$-V5V6NMJ:&:ULYTKAIR"27;/+)-#:+
MJF&Z.:4@P*,FNQ'&4NYG+:T7YLQEH^_N>B5DKKT::%K4M3QI>J8*-*S.3#=7
M--$"]:OANP5"O)W$1RV]&9H^-^WUL^YJK!^XAT+=\,IAAR;TV.BU6_;7<+<Y
M\[\H67W`P86!*J]!_@IZ.UQZF^(<=\[8YBNB;PXK_7)AAA-0Y+(^(B6X7WO?
M/?G@_E7^MG8:8LUWT(SW_=G.5:>'IM:86QBY1D?RN^KFF+[%KNM40ZH@@!LU
MGOJ%;BLN59%=*\RRV<K:'2'=9C5>+LHK;EJ``-!'+_WTU%=O_?789Z_]]MPW
MB[Q3]N+]V.L#.9C6P`XE[#?%[#^I]X[56DPBZ0?H#;.QO[>OOYVMKZNMX4GC
M2.-48[Y;O45J^TM@E,27MM(8KT/@.M+:.E<[!5HP3XOC5FC.)2RL#6M]4^/@
M!4<8.M!I9%DR6TWX)/@8]9'PA7FK8$,2EC_OO*]K<U$AQV#(PZ<9<&Y>_@F@
M3A)V$!G:#FT]3"+MQ';"R^F+2<$#P/=TI2WT*?&%\HM85WIW1-<8<8B(NJ(8
MV>8TG:!0;MXY(V/N=RJRC3&)Y++BW[;"QM/\)8U3JN,;V]>_K-VN5!/4"`W+
M^)AAS:4`B$RD(A?)R$8B$BZ.C*0D)TG)2EKRDI;DR`??,CDT_<@K()R67`9`
MRE*:\I2H3"4IMV4?5;KRE;",I2QG2<M8<A&'=0P>V(SSQZ($<H86*I(3=Q>=
MPB&Q=%D)I?^VDD,F#;,OZE(C,9&&K0>"<4]ZM&-[Y-C$_U0*==-$CQ`A5\@_
M"O%L6=%<%_>S+5V&TW2:S."LB`6E02Z(FSNQ31"%WNFU-4TQ>;?C8O+2F<V*
M!#-C_-09MMZW&A0JLTOT;-(S^1+-B2;4,NHL"9,L,I*"JJHDO_PH3$::$.>0
1]*0H32E)0[K'EKH43`$!`#L_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
