-----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,
 NQkOtMPqqMJMhPhV9VnS1Ulz0fxnIkaqKKEGwXgrQb1ulRtu3IGrJK/CBiH8vGSY
 WRSxSXj1T91LQ4UGCvlhvQ==

<SEC-DOCUMENT>0000950135-08-003730.txt : 20080516
<SEC-HEADER>0000950135-08-003730.hdr.sgml : 20080516
<ACCEPTANCE-DATETIME>20080515191420
ACCESSION NUMBER:		0000950135-08-003730
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20080430
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080516
DATE AS OF CHANGE:		20080515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA FUND INC
		CENTRAL INDEX KEY:			0000845379
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05749
		FILM NUMBER:		08840019

	BUSINESS ADDRESS:	
		STREET 1:		225 FRANKLIN ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6176622965

	MAIL ADDRESS:	
		STREET 1:		225 FRANKLIN ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>b69203a1e8vk.htm
<DESCRIPTION>THE CHINA FUND, INC.
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT<BR>
PURSUANT TO SECTION 13 OR 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>April&nbsp;30, 2008</B><BR>
<B>Date of Report (Date of Earliest Event Reported)</b></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>The China Fund, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Exact Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Maryland</B><BR>
(State or Other Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>811-05749</B><BR>
(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>000000000</B><BR>
(IRS Employer<BR>
Identification Number)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>c/o State Street Bank and Trust Company <BR>
2 Avenue de Lafayette,
6</B><SUP style="font-size: 85%; vertical-align: text-top"><B>th</B></SUP><B> Floor, <BR>
P.O. Box 5049, Boston, Massachusetts</B><BR>
(Address of Principal Executive Offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><B>02206-5049</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>1(888) 246-2255</B></DIV>

<DIV align="center" style="font-size: 10pt">(Registrant&#146;s Telephone Number, Including Area Code)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the Registrant under any of the following provisions:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Written communications pursuant to Rule&nbsp;425 under the Securities Act
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV style="font-family: 'Times New Roman',Times,serif">








<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="b69203a1exv99.htm">April 2008 Monthly Insight Report</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;7.01. Regulation&nbsp;FD Disclosure." -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Regulation&nbsp;FD Rules&nbsp;100-103, The China Fund, Inc. (the &#147;Fund&#148;) furnishes the
Monthly Insight Report of the Fund&#146;s Listed Investment Manager.
</DIV>
<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;Exhibits
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 2008 Monthly Insight Report of the Fund&#146;s Listed Investment Manager</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated:
May&nbsp;16, 2008
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top">By:&nbsp;&nbsp;</TD>

<TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/
Elizabeth A. Watson
&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Elizabeth A. Watson</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR><TR>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Assistant Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left">&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">April 2008 Monthly Insight Report of the Fund&#146;s Listed Investment Manager</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>b69203a1exv99.htm
<DESCRIPTION>APRIL 2008 MONTHLY INSIGHT REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b69203a1b6920307.gif" alt="(MARTIN CURRIE GRAPHIC)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>THE CHINA FUND, INC. (CHN)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b69203a1b6920308.gif" alt="(MARTIN CURRIE TEAM GRAPHIC)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Martin Currie<BR>
Shanghai team

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>IN BRIEF</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net asset value per share</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">US$</TD>
    <TD align="right">40.36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Market price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">US$</TD>
    <TD align="right">35.06</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Premium/(discount)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(13.13</TD>
    <TD nowrap>%)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fund size</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">US$</TD>
    <TD align="right">732.7m</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Source: State Street Bank and Trust Company
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="4" style="border-bottom: 1px solid #FFFFFF">At 30 April 2008</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">US$ returns</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">China Fund NAV</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">MSCI Golden Dragon*</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000">%</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">One month</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Year to date</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(9.8</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5.8</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">One year</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">36.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Three years %pa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26.8</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide to future returns.<BR>
Source: State Street Bank and Trust Company. NAV performance.<BR>
*Source for index data: MSCI.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>MANAGER&#146;S COMMENTARY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Martin Currie acts as portfolio manager of The China Fund, Inc. (&#147;Fund&#148;). This commentary
is the opinion of Martin Currie Inc.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Chinese markets enjoyed a nice bounce in April up 9.8%. Fears of further credit tightening
abated somewhat; the latest Consumer Price Index figure came in slightly lower than the
preceding month (8.3% in March compared with 8.7% in February) and there was no government
response beyond lifting the reserve ratio requirement by a further 50 basis points. After
standing aside while the A-share market fell by 50%, the Chinese Securities Regulatory
Commission finally rode to the rescue with some sentiment-boosting measures. First-quarter
results were, on the whole, reassuring, with the exception of some large state-owned companies,
such as refiners and independent power producers, which are now being asked to perform national
service (that is to say, not being allowed to put up prices, despite a rise in costs, to help
restrain inflation). The combined revenues of 150 large state-owned enterprises jumped by 27%
in the first quarter, but their combined profit fell by 3%. In contrast, the Fund&#146;s domestic
portfolio, which owns none of these stocks, recorded earnings growth of 26%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Over the summer we think China will stop worrying about inflation and start worrying about
growth. Our company meetings reveal exporters pedalling hard to cope with increasing material,
labour and environmental costs. The story is not wholly negative &#151; economic pressures are
forcing another round of Western companies to seek the &#145;China price&#146;. But as Western companies
squeeze inventory to the bare minimum, even the winners are seeing smaller, albeit more
frequent, orders. As the complaints of exporters escalate, coincident with a likely rally in
the US dollar, we expect renminbi appreciation against this currency to slow and stop. Added
to this, we see the first signs of a loosening of the purse strings as a couple of companies
we visited struggled to secure reasonably priced loans in the first quarter, but have now been
able to get them.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>INVESTMENT STRATEGY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund is 92.8% invested in 72 companies. The reason for the relatively high cash level
at the month-end is a substantial pre-IPO investment in Huiyin, an electrical retailer
targeting rural consumers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Early in April we decided to buy back some A-shares, as losses in this market since the peak
last October neared 50%. Our purchases focused on the property and financial sectors, which had
been the worst performers during the collapse (Vanke, Financial Street, Ping An Insurance), as
well as the hard-liquor-maker Wuliangye. We sold one A-share, Shanghai Port, which we expect to
be hurt by declining trade volumes. To fund our purchase of Huiyin and the A-shares,
we took profits in Zhejiang Expressway, Shenhua Coal and Synnex and cut our losses in Efun.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The weighting in A-shares now stands at 13.1% and in Taiwan at 34.4%. By sector, the
Fund is overweight in agriculture, healthcare and domestic consumer and underweight in
commodities and exporters.
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><I>Chris Ruffle, Martin Currie Inc*</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">*Martin Currie Ltd and Heartland Capital Management Ltd (HCML)&nbsp;have established MC China Ltd
(MCCL), as a joint venture company, to provide investment management or investment advisory
services to the range of China investment products managed by Martin Currie.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">MCCL has appointed Martin Currie Investment Management Ltd (MCIM), or its affiliates, as
investment manager of Martin Currie&#146;s China investment products.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">HCML has seconded both Chris Ruffle and Shifeng Ke to MCIM or its affiliates on a full time
basis with the same roles and responsibilities as if they were full time employees.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>30 APRIL 2008</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FUND DETAILS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD align="left" valign="top">Market cap
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">US$636.47m</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Shares outstanding
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">18,153,741</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="left" valign="top">Exchange listed
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">NYSE</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">Listing date
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">July&nbsp;10, 1992</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="left" valign="top">Investment adviser
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><FONT style="white-space: nowrap">Martin Currie Inc</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>SECTOR ALLOCATION</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">The China</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">MSCI Golden</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Fund, Inc</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Dragon</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer discretionary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">16.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">33.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer staples</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">13.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Industrials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">12.9</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">9.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Healthcare</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">9.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Information technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">7.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">19.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Materials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">6.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">7.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">5.1</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">8.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Utilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telecommunications</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.3</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">11.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other assets &#038; liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">7.2</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>100.0</B></TD>
    <TD nowrap><B>%</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>100.0</B></TD>
    <TD nowrap><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company. Source for index data: MSCI
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ASSET ALLOCATION</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b69203a1b6920309.gif" alt="(PIE CHART)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company
</DIV>
<DIV>&nbsp;</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><B>PERFORMANCE</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>(US$ RETURNS)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">NAV</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Market price</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">One month</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Year to date</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(9.8</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(7.8</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Three years %pa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">38.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28.9</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide
to future returns. Three year
returns are annualiosed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>DIRECT INVESTMENTS (3.6%)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="38%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Qingdao Bright Moon</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Industrials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Silicon</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Information technology</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Highlight Tech</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Industrials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wuxi Paiho</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Industrials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sino-Twinwood</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Information technology</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">0.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">teco Optronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Information technology</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>15 LARGEST LISTED INVESTMENTS (37.0%)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="38%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chaoda Modern Agriculture</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consumer staples</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Far Eastern Department Stores</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consumer discretionary</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yuanta Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">3.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uni-President Enterprises</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consumer staples</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.7</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Metal Products</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Materials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.5</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Development Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.4</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Xinao Gas</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Utilities</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Daqin Railway</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Industrials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cathay Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.2</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fubon Financial Holdings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Financials</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">2.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Powertech Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Information technology</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.9</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Oilfield Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Energy</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shandong Weigao Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Healthcare</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wumart Stores</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consumer staples</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.8</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Synnex Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Consumer discretionary</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">1.7</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company.
</DIV>
<DIV>&nbsp;</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><B>FUND PERFORMANCE (BASED ON NET ASSET VALUE)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><B>(US$ RETURNS)</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="23%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">One</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Three</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Calendar</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">One</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Three</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Five</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Since</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">month</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">months</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">year to date</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">year</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">years</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">launch</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">%</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">% pa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">% pa</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">% pa</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>The China Fund, Inc.</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>5.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>6.1</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right"><B>(9.8</B></TD>
    <TD nowrap><B>)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>36.0</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>38.5</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>36.8</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>13.5</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">MSCI Golden Dragon</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(5.8</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">n/a</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hang Seng Chinese Enterprise</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17.6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(11.7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45.2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">n/a</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shanghai Stock Exchange 180</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.8</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(10.7</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(22.8</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">68.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29.5</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">n/a</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide to future returns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source: State Street Bank and Trust Company. Launch date 10 July&nbsp;1992. Three year, five
year and since launch returns are all annualised.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Source for index data: MSCI for the
MSCI Golden Dragon and Copyright 2008 Bloomberg LP for the Hang Seng Chinese Enterprise
and the Shanghai Stock Exchange 180. For a full description of each index please see the
index descriptions section.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><b>PERFORMANCE
IN PERSPECTIVE</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b69203a1b6920310.gif" alt="(LINE CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide to future returns.<BR>
Source: Martin Currie Inc as at 30 April&nbsp;2008.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><b>THE
CHINA FUND INC. PREMIUM/DISCOUNT</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b69203a1b6920311.gif" alt="(LINE CHART)">
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide to future returns.<BR>
Source: Martin Currie Inc as at 30 April&nbsp;2008.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><b>10
YEAR DIVIDEND HISTORY CHART</b>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b69203a1b6920312.gif" alt="(LINE CHART)">
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Total</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.50</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.08</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.11</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.00</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.13</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>0.21</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>1.78</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>3.58</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>2.51</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>4.01</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right"><B>12.12</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.08</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Long-term capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.27</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.73</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Short-term capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.15</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.98</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.84</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Past performance is not a guide to future returns.<BR>
Source: State Street Bank and Trust Company.

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>30 APRIL 2008</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Sector</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Company (BBG ticker)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="4">Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Holding</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Value $</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">% of portfolio</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Hong Kong</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>20.5</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chaoda Modern Agriculture</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">682 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">11.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">20,633,998</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">29,646,929</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Xinao Gas</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2688 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">14.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,286,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,082,685</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Golden Meditech</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">8180 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">2.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">35,040,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,136,855</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Huabao International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">336 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">7.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,790,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,485,420</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.6</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shangri-La Asia</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">0069 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">21.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,141,555</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,423,001</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">TPV Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">903 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">5.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,728,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,849,888</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ports Design</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">589 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">25.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,678,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,624,694</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Natural Beauty Bio-Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">157 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">1.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">32,780,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,989,891</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Shineway Pharmaceutical</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2877 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">5.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,184,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,431,992</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tianjin Development</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">0882 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">6.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,440,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,821,208</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Intime Department Store Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1833 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">5.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,778,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,553,856</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">SPG Land</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1688 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">4.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,924,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,535,503</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Travel International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">0308 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">3.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,982,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,902,741</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yorkey Optical International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2788 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">1.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">16,424,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,003,233</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Rare Earth</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">769 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">1.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,254,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,463,661</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chinasoft International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">8216 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">1.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">19,230,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,330,361</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ocean Grand Chemicals</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2882 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">0.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,379,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">691,138</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Arcontech</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">8097 HK</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">18,386,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>China &#145;B&#146; Shares</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>1.0</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shanghai Lujiazui Finance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">900932 SHA</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,459,405</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,366,937</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Singapore</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>4.4</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Hongxing Sports</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">CHHS SP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">SG$</TD>
    <TD align="right" valign="top">0.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,307,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,665,336</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yangzijiang Shipbuilding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">YZJ SP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">SG$</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,546,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,522,071</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Fishery Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">CFG SP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">SG$</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,068,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,507,357</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hsu Fu Chi International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">HFCI SP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">SG$</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,409,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,192,651</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CDW</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">CDW SP</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">SG$</TD>
    <TD align="right" valign="top">0.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">60,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,093,011</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Hong Kong &#145;H&#146; shares</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>10.5</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Oilfield Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2883 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">14.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,132,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,138,448</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shandong Weigao Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">8199 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">12.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,180,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,117,215</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wumart Stores</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">995 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">6.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,126,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,098,036</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Huiyuan Juice</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1886 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">6.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13,000,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,006,671</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Zijin Mining</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2899 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">7.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,408,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,479,904</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">ZTE Corp</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">763 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">32.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,236,360</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,338,369</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Shenhua Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1088 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">35.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,450,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,659,312</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Railway Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">390 HK</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">7.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,450,800</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,342,299</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Taiwan</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>34.4</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Far Eastern Department Stores</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2903 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">51.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,630,080</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">29,646,444</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yuanta Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2885 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">29.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">26,413,545</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">25,157,823</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Uni-President Enterprises</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1216 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">43.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,137,220</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">20,244,118</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Metal Products</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1532 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">65.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,392,675</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,916,869</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Development Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2883 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">14.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">36,871,940</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,256,758</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cathay Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2882 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">85.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,708,370</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">16,029,744</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Fubon Financial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2881 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">36.3</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,603,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,025,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Powertech Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">6239 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">122.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,581,100</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,407,907</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Synnex Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2347 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">81.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,738,050</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,682,522</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lien Hwa Industrial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">1229 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15,161,855</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,527,940</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.6</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tripod Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">3044 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">103.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,163,083</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,752,249</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ruentex Development</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">9945 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">33.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,477,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,427,112</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Taiwan Secom</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">9917 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">66.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,738,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,348,206</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Merry Electronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2439 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">80.7</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,584,340</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,500,164</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.3</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wah Lee Industrial</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">3010 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">64.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,998,856</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,405,510</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">HannStar Display</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">6116 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">14.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">17,900,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,289,350</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">FamilyMart</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">5903 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">55.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,557,652</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,496,607</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Yieh United Steel</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">9957 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">14.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,379,600</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,232,430</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wintek Corp</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">2384 TT</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">NT$</TD>
    <TD align="right" valign="top">27.6</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,148,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,853,594</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United Kingdom</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>1.0</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Medical System Holdings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">CMSH LN</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&#163;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,623,188</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,442,055</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>United States</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>4.3</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mindray Medical International</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">MR US</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">34.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">367,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">12,478,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The9</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">CMED US</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">21.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">356,200</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,647,614</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Far East Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">FEEC US</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">0.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,111,111</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,100,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">WuXi PharmaTech Cayman</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" nowrap valign="top" align="right">WX US</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">HK$</TD>
    <TD align="right" valign="top">18.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">287,041</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,293,036</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.7</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Equity linked securities (&#145;A&#146;
shares)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>13.1</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Daqin Railway</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">2.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,907,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">16,300,520</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Qinghai Salt Lake Potash</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">12.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">887,909</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11,054,467</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shanghai Zhenhua Port Machinery</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">2.4</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,462,752</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,652,589</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Vanke</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">3.5</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,833,650</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,863,936</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left">Sector</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Company (BBG ticker)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="4">Price</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Holding</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">Value $</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" colspan="2">% of portfolio</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finance Street</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">2.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,191,059</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">9,088,136</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wuliangye Yibin</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,200,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,940,800</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.2</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Yangtze Power</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">2.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,169,077</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,346,492</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shanghai Tunnel Engineering</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">1.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,439,247</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">8,301,392</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ping An Insurance</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">9.9</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">773,600</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,638,527</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.1</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shanghai International Airport</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">3.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,816,700</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,829,790</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Direct</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>3.6</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Qingdao Bright Moon</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">0.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">31,827,172</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,001,978</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1.0</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China Silicon</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">238.0</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">27,418</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">6,525,484</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.9</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Highlight Tech</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">1.8</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,366,893</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5,993,069</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.8</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wuxi Paiho</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">876,190</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,679,998</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.5</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sino-Twinwood</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">US$</TD>
    <TD align="right" valign="top">6.1</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,050,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">0.4</TD>
    <TD nowrap valign="top">%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">teco Optronics</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,861,710</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&#151;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Other assets &#038; liabilities</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">52,812,605</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top"><B>7.2</B></TD>
    <TD nowrap valign="top"><B>%</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>INDEX DESCRIPTIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>MSCI Golden Dragon Index</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The MSCI Golden Dragon is a free float-adjusted market capitalisation index that is designed
to measure equity market performance in the China region. As of May&nbsp;2005 the MSCI Golden
Dragon Index consisted of the following country indices: China, Hong Kong and Taiwan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Hang Seng China Enterprise Index</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Hang Seng China Enterprise Index is a capitalisation-weighted index comprised of
state-owned Chinese companies
<FONT Style="white-space: nowrap">(H-shares)</FONT> listed on the Hong Kong Stock Exchange and
included in HSMLCI index.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Shanghai Stock Exchange 180 Index</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Shanghai Stock Exchange 180 &#145;A&#146; Share Index is a capitalisation-weighted index. The
index tracks the daily price performance of the 180 most representative &#145;A&#146; share stocks
listed on the Shanghai Stock Exchange.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>OBJECTIVE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The investment objective of the Fund is to achieve long term capital appreciation. The Fund
seeks to achieve its objective through investment in the equity securities of companies and
other entities with significant assets, investments, production activities, trading or other
business interests in China or which derive a significant part of their revenue from China.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Board of Directors of the Fund has adopted an operating policy of the Fund, effective 30
June&nbsp;2001, that the Fund will invest at least 80% of its assets in China companies. For this
purpose, &#147;China companies&#148; are (i)&nbsp;companies for which the principal securities trading market
is in China; (ii)&nbsp;companies for which the principal securities trading market is outside of
China or in companies organised outside of China, that in both cases derive at least 50% of
their revenues from goods or services sold or produced, or have a least 50% of their assets in
China; or (iii)&nbsp;companies organised in China. Under the policy, China will mean the People&#146;s
Republic of China, including Hong Kong, and Taiwan. The Fund will provide its stockholders with
at least 60&nbsp;days&#146; prior notice of any change to the policy described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund is subject to the Investment Company Act of 1940 which limits the means in which it
can access the &#145;A&#146; share market. The Fund will continue to seek the most efficient way in which
to increase its &#145;A&#146; share exposure ensuring ongoing compliance with its legal and regulatory
obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>CONTACTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The China Fund, Inc.<BR>
c/o State Street Bank and Trust Company<BR>
2 Avenue de Lafayette, 6th Floor<BR>
PO Box 5049<BR>
Boston, MA 02206-5049<BR>
Tel: (1)&nbsp;888 CHN-CALL (246 2255)<BR>
www.chinafundinc.com

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Important information</B>: This document is issued and approved by Martin Currie Inc (MC Inc), as
investment adviser of the China Fund Inc (the Fund). MC Inc is authorised and regulated by the
Financial Services Authority (FSA)&nbsp;and incorporated under limited liability in New York, USA.
Registered in Scotland (No BR2575), registered address Saltire Court, 20 Castle Terrace, Edinburgh,
EH1 2ES. Information herein is believed to be reliable but has not been verified by MC Inc. MC Inc
makes no representation or warranty and does not accept any responsibility in relation to such
information or for opinion or conclusion which the reader may draw from the newsletter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Martin Currie Ltd and Heartland Capital Management Ltd (HCML)&nbsp;have established MC China Ltd (MCCL),
as a joint venture company, to provide investment management or investment advisory services to our
China product. MCCL has appointed Martin Currie Investment Management Ltd (MCIM), or its
affiliates, as investment manager of our China funds. HMCL has seconded both Chris Ruffle and
Shifeng Ke to MCIM or its affiliates on a full time basis with the same roles and responsibilities
as if they were full time employees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund is classified as a &#145;non-diversified&#146; investment company under the US Investment Company
Act of 1940 as amended. It meets the criteria of a closed ended US mutual fund and its shares are
listed on the New York Stock Exchange. MC Inc has been appointed investment adviser to the Fund.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investors are advised that they will not generally benefit from the rules and regulations of the
United Kingdom Financial Services and Markets Act 2000 and the FSA for the protection of investors,
nor benefit from the United Kingdom Financial Services Compensation Scheme, nor have access to the
Financial Services Ombudsman in the event of a dispute. Investors will also have no rights of
cancellation under the FSA&#146;s Conduct of Business Sourcebook of the United Kingdom.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This newsletter does not constitute an offer of shares. MC Inc, its ultimate and intermediate
holding companies, subsidiaries, affiliates, clients, directors or staff may, at any time, have a
position in the market referred to herein, and may buy or sell securities, currencies, or any other
financial instruments in such markets. The information or opinion expressed in this newsletter
should not be construed to be a recommendation to buy or sell the securities, commodities,
currencies or financial instruments referred to herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The information provided in this report should not be considered a recommendation to purchase or
sell any particular security. There is no assurance that any securities discussed herein will
remain in an account&#146;s portfolio at the time you receive this report or that securities sold have
not been repurchased.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It should not be assumed that any of the securities transactions or holdings discussed here were or
will prove to be profitable, or that the investment recommendations or decisions we make in the
future will be profitable or will equal the investment performance of the securities discussed
herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Investing in the Fund involves certain considerations in addition to the risks normally associated
with making investments in securities. The value of the shares issued by the Fund, and the income
from them, may go down as well as up and there can be no assurance that upon sale, or otherwise,
investors will receive back the amount originally invested. There can be no assurance that you will
receive comparable performance returns, or that investments will reflect the performance of the
stock examples contained in this document. Movements in foreign exchange rates may have a separate
effect, unfavorable as well as favorable, on the gain or loss otherwise experienced on an
investment. Past performance is not a guide to future returns. Accordingly, the Fund is only
suitable for investment by investors who are able and willing to withstand the total loss of their
investment. In particular, prospective investors should consider the following risks:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The companies quoted on Greater Chinese stock exchanges are exposed to the risks of
political, social and religious instability, expropriation of assets or nationalisation, rapid
rates of inflation, high interest rates, currency depreciation and fluctuations and changes in
taxation, which may affect income and the value of investments.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At present, the securities market and the regulatory framework for the securities industry in
China is at an early stage of development. The China Regulatory Securities Commission (CSRC)
is responsible for supervising the national securities markets and producing relevant
regulations. The Investment Regulations, under which the Fund invests in the People&#146;s Republic
of China (&#145;PRC&#146;) and which regulate repatriation and currency conversion, are new. The
Investment Regulations give CSRC and State Administration of Foreign Exchange (SAFE)&nbsp;wide
discretions and there is no precedent or certainty as to how these discretions might be
exercised, either now or in the future. The Fund may, from time to time, obtain access to the
securities markets in China via Access Products. Such products carry additional risk and may
be less liquid than the underlying securities which they represent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>During the past 15&nbsp;years, the PRC government has been reforming the economic and political
systems of the PRC, and these reforms are expected to continue, as evidenced by the recently
announced changes. The Fund&#146;s operations and financial results could be adversely affected by
adjustments in the PRC&#146;s state plans, political, economic and social conditions, changes in
the policies of the PRC government such as changes in laws and regulations (or the
interpretation thereof), measures which may be introduced to control inflation, changes in the
rate or method of taxation, imposition of additional restrictions on currency conversion and
the imposition of additional import restrictions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>PRC&#146;s disclosure and regulatory standards are in many respects less stringent than standards
in certain Organisation for Economic Co-operation and Development (OECD)&nbsp;countries, and there
may be less publicly available or less reliable information about PRC companies than is
regularly published by or about companies from OECD countries.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Shanghai Stock Exchange and Shenzhen Stock Exchange have lower trading volumes than most
OECD exchanges and the market capitalisations of listed companies are small compared to those
on more developed exchanges in developed markets. The listed equity securities of many
companies in the PRC are accordingly materially less liquid, subject to greater dealing
spreads and experience materially greater volatility than those of OECD countries. These
factors could negatively affect the Fund&#146;s NAV.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Fund invests primarily in securities denominated in other currencies but its NAV will be
quoted in US dollars. Accordingly, a change in the value of such securities against US dollars
will result in a corresponding change in the US dollar NAV.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The marketability of quoted shares may be limited due to foreign investment restrictions,
wide dealing spreads, exchange controls, foreign ownership restrictions, the restricted
opening of stock exchanges and a narrow range of investors. Trading volume may be lower than
on more developed stockmarkets, and equities are less liquid. Volatility of prices can also be
greater than in more developed stockmarkets. The infrastructure for clearing, settlement and
registration on the primary and secondary markets may be underdeveloped. Under certain
circumstances, there may be delays in settling transactions in some of the markets.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="wingdings"><B>&#232;</B></FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The value of the Fund&#146;s investment in any Quota will be affected by taxation levied against
the relevant Qualified Foreign Institutional Investors (QFIIs) or in respect of investments
held in the relevant Quotas. The PRC taxation regime that will apply to QFIIs and investments
made in or through QFII quotas is not clear. The Investment Regulations are new and do not
currently expressly contemplate the treatment of QFIIs and investment made through QFII
Quotas.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Fund returns used in this document are calculated on the net asset value and therefore fall outside
the scope of the GIPS standards.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Martin Currie Inc, registered in Scotland (no BR2575)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registered office: Saltire Court, 20 Castle Terrace, Edinburgh EH11 2ES Tel: (44)&nbsp;131 229 5252
Fax: (44)&nbsp;131 228 5959 www.martincurrie.com/china<BR>North American office: 1350 Avenue of the
Americas, Suite&nbsp;3010, New York, NY 10019, USA Tel: (1)&nbsp;212 258 1900 Fax: (1)&nbsp;212 258 1919
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Authorised and registered by the Financial Services Authority and
incorporated with limited liability in New York, USA.
<FONT Style="white-space:nowrap">Please note:</FONT> calls to
the above numbers may be recorded.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>b69203a1b6920307.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920307.gif
M1TE&.#EA\P)K`/<@`.40*^4.*>4-*.81+.87,>88,^88,N88,N8:-.8A.=\H
M-+]0*K->)ZAA)HM>)7E=(V]C)V-E+5IE,5-<.%!6/$Q//T1&.S]#-3M"+S<^
M(RLX'BDO'",J'",G%QT>%!83$1(.#PX*"PD&!P8'!@0?#@$[%P!%&P!''`!*
M(`!-(P!.)0!1*`!1*0!2*0%2*`!2*0!2*0%2*0%2*0-4*PA7+@M8,`U:,0]:
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M_O[^_O[^_OW^_O[^_O[^_B'Y!`@``"``+`````#S`FL```C^`-_]2S:LH,&#
M"!,J7,BPH<.'$"-*G$BQHL6+&#-JW,BQH\>/($.*'$FRI,F3*%,N//9/X+^7
M,&/*G$FSILV;.'/JW,FSI\^?0(,*'4JTJ-&C2),J7<JTJ=.G4*/N[$=5ZM-D
M_S@1*D2HJ]>O8,.*'4NVK-FS:-.J7<L6K2%$;>/*G4NWKMV[>//JW<NWK]^_
M@,,.*F3HT"%$B!,K3GS(ZZ#'6PL5@ARYD.%#A@IC)FQ(LN7+AA<OYAIX[*%$
MJ%.K7IT:D:J!P?X9NH/H,^C;N'/KWLV[M^_?P(,+'PZ\,*`$F(DK7\Z\N?/G
MT*-+GTZ]NO7KV+-?SCS(#H,&#!;^-'!`OGSY!@L&@>XL"-"@PI*[>V=`?SY]
M!G;L%*ISOX'_\@\$&*`##=2!66&9;7==87\(X."#$$8(81[_%/3/859EJ.&&
M-FGR!X<@ABCBB"26:.*)4%DBQA==;($%%D<0,40/$@PAP1%%&"%)+^W\0U4_
M_V0"BR_]_((+)JV\@@8:9C2Y9)--OM*++[B$\<4755"A)1%"``'$#V#Z\(,4
MEGSS8X:J")```FRVZ>:;"03PH3'#R#8(0<GDJ>>>?/;IYY^`!BKHH(06:NBA
MB`9Z3#*>Z)%,,8E&*NFDE%9JZ:689JKIIIQVZNFGE2*3S#''-$/J,;\4,\PO
MO@033";^;621!19::)$%!!+DFFL$$1P!`0-U/!(+)KWT@HDK<K1R+!EJI(%&
M&F:0(6T99I0AK1F9'!/,+Y&\6$664UA1Q!!!@-E##SST,$4DNOP2C##!`%.,
M,<>(NBFDBPB`@`$%].OOO_\B($`?_]#Y#U<#H:CPPC29\T^C_TS#\,045VSQ
MQ1@W]<X[YDR#SC0>?V/F+[\`LXLK:GQ'(!L.1*"KKD<<\0`#=^17ARNNI*'S
MDDM2"VT98H@Q!AG6BM%%)+U,PXP[L5!Q11564!%N$5R6VX,/8OI0!-*_"&-.
M,M],8XXY&R<E<;X(%,`OP&P7(/"<=1I"2,(9UYVAPQ!+;/?^WGSW[???4@G$
ML3OHH&-..\PD_DTOL,BQQAIUB.<`KB_K&H$#^65N1[,Z.[OD&66$+@8886SA
MQ8I86!$)+\PLP\PEX5H1-150CQO$E^=>[0,54A9DS#?M3)-,V4B=K2^_:[?M
M[]L%UXDP5H!'3Q3>>D0L_?789Z^]]!N_PPS)S+1S"1M9,/"X&BP_4/D$NS:0
M.7Z;JR%_LSPS28887FP!!AA<5%'$UM]('#-Z(87_&?!;5.`2F'Z0.ZQ1(1:^
M&,8QIO$+L;W#'6;[!]K4QD'E]4M@!#.8W.BVO1+6A'K6,Z$*5\C"%BY%<!LC
MVSN$P:IDM,,56G#`@-BPA@9DH'+^NH*`^^ZS!C8T0'[YF1_GT@`T,'CA"N,B
M0A5B\0UTM.X74:#:$+9H0!EUZ0<^:&`/I("+=ASC&R6;!O&.8KRT&2!Y'@1A
M\V0S-^BYT(0HU-L=]\C'/OHQ)@XSQ^^F@8Q>D&$+5I!`!BKP@`88\0$4H`#[
M=N6`\"S@DK+*@N8T-S\F(I)J1"#"%"[ACFD<PQC_B(07A2"$(8222T(H5YBN
MUH,A(,T7P#!'`"\(D^[YTB4\:6._D@?'@`D`;G0DX1^EE\=E.O.9T(R>X*:!
M.'-4B0M68%\&,M"!1K+!B.09D"4O.1X(.&`!-=MD$IN5!5#^#PR]$"0RBN&.
M27@Q"/C^9"4K\?FE,.W`!SLP`BQZ$0QG)&Z-1FDC\@!63+<=<X[/BR;@FBG1
MBEKTHB;JASOZ\0UW..,=L``#(I&``0UD0`,=\,`&*KF&!8SSDI?4H3GK$S\U
M/$X.<M#9%D!I!"N\PA=T:@8POA$+6.(S"+%$:BS[.<MS20$3WSA&XMS1HY?\
MLGL^$>8;B=DV.8JPCAC=&T7#2M:RFC4I@M/HX5[Q!2X800(8V*8&-,`!#WQ`
MI1EX0"7'.1[R9&$-\\-9+#+A"W3T(Q-DP((1II"C+4"5<+]HQS=D,85]'M5+
M1UW@`L/X`UOV8AC-:(=HVX%!=\10AL#<B3#5]D8/.C2$S@/^ZUDM-M;9VO:V
MN+7).ZCR-5=X00MOA>M)-\"!#AC7`Q[H0`8(!-/ON$$.D&@%*X@UI5\T@U[F
MP,03K3`%J"&-&84#KSMP(04@+/5VF.4GF+P$!*R)B0IE,L;A1MN2T\HPJQH\
MGK_6ME6`>36VRLSMB6HKX`(;.*R[[8?A@%&&+@`W5W'5`'$[0`+C*C<";G`#
M`]C@"$>T(A/%^H4`$[>,8PS#&,&(A1=D5X0J:`$6(ON&+L7FBRBDEY]?`H)Z
M?\!>,(81:<$XQFA-:U^L]D2A'5PH0_^;3#L>F$0$?K*4I]S'C2G8'+P@@X.#
M&U?B%M?"&J#`ZG(1"UFPRA=H_H7^ZYA!S0`:3EN9B(3LH`8&3'1,QC(&FRIU
M?-3;K==+?XXEUGA0A"'94+08[-[8C!S,_+I1>4IFGL$B2F411;G2F,XT]KH'
MLF3L@@Q<2%VNMNEE,&=`"KG0Z#\*Y['"35"TU&R',F:M#.!1`@G?N@+2A#&-
M99@#&5]CQBRFP.?+_OE+8C*O$,"8+B_P0K*C]>6B$:H3K;)VOPM](Y-'Z&1-
M6^72W@ZWN#$F$*I\3!=B"+41CB!<E%JX`V&&1#L*)\A%>>Q'&NT'XI@A,F!$
MUA+=M0(7+O$+"39#;!UCAB\B<=Y\:M;'/-;G#WC``R1`,'Q+\]AI&:U:1W.P
MM5N%HP'^MBW;<4<%W"9/N<I+9&5T?",7Z58LNR-LW.+.-0F:&"W(I@$\R9H)
MWS\2V=)LT5U=]R*78)/QV!('\&+O.$QB^D$^V\L#(7Q79"!3]+3QBS8E>WV_
M3*;TRIN"\K&;_>Q/$<A&@5>E+5QAW1*8P$D[P`$.S#4#4?B%C"4[XO#YO!WF
MV*AAS6V.7$C!"%JXA!F_T0R1C4V7"H]"4OOL8_=>K=@3[\$#_\'O9:C1M--.
M;;4]CKR0]Y>#D@9PM]%NE+*S_O5WA.%5?]E+7[9D)K(OV^QW7Q,8WEXF5@[?
M+?@G\U'/U>XFG4`DT'&,P/]HW\`#QE!!-K8?H6,8NY""ZGK^02J])^[Q_3A<
M+(K@`Z<CV_+)YB?6B!`)77Y#&1(#/6JY?KR&@GQM)`^P;NN[^_[[__\`&(`"
M.(`$6("V)WHVX7JPMX#.=(#`5U_\]WL1N!.\AX`Q<4%6U`ZWT%984`5(`&$G
M95+;)`&5P'G\)EFF$EH!U`[YAF^!-PW"T`M7@@G%(`S'T`L!Q&8_8@S`0$`1
MUV?(ICOIQT\](`12H`LB8T5:QW&CMT%)-DS9YE#()'8,.!1Y9($FHGM5>!2^
MAX4_T848)1"/%WC1=C@Q-EJD-5]HR(+X-G@<)4`?(UEC.%^^H'=`)S)4P82W
M%X>P$`9=D`5OERL3$&';E`%(4`O^B$-5[N`.C[>(&P5T0+(QAO,+E0!!R7!G
MI/4Q]&8.Q>`+`"<F?58N8>1>0U@N0#`%L-`.QL"#5`$\Z*"'.(%D#+5?J/=0
M%L)M%/@/Q2!]O-B+OOB+P!B,PCB,Q%B,QGB,R#B,Q2"!.*&`O10Q.P>+%]@2
MT<B,M4>-.P<RKTAM5K5JV@B!#_@Q$E,VI92-YFB.Z`"![Y!UUGA[ZZA&OR<0
MXB@XSSB/[6A5\IAUW/B`[TB/T\2."/B/]'B-[YB-V^@2`GF/_">.Z.A[]>@Q
M]YB/Z:A[YUB1U>B%@2.'8X.&''-G/2=:'2DRHS54_%:./)<XP,!O(/,-P``R
M!W<XP%#^A_-6..C@#DFH1MPHB=3T"GZH!:G#;NU6B%-01NVPC_R'5;NU:LKP
M#KL0#,N0COU@7X]W#.CP"[V@2E('A&&D.U>3E?QD2]\@##2D8*ZH:O27-JQ5
M>A^'?P,#4277C/_@",^%4W19EW9YEWB9EWJYEWS9EW[YEX")EV_P"/_@,#IQ
MA4&!D/NG$V7S,38!CQ@9D2@2F<PXD#21CFG7$].$%)R&D9A)F2J$0>T063!1
MAF.X6[M%.`CW#B)3AUB7#,T@5$/E>.8@9.T@DT-%%=0WAZ>9DZL6/CSY6ZD3
M7'*7`7$E`4<H6;PT>[VW,2"C4=-`9&*(6J9$0;Z@"U+@E9?^-8KG@C7%9EY?
M\%G"``P;1555\1.R>&TBIS;YMWHU(3&/P`9OD&'T69_V>9_XF9_ZN9_\V9_^
M^9\`>I]OP`:$J4=PF3>@>7N5,`F30`G@:!.OJ`L,.@FYL&KA^!*Y,`E0P`1,
MT`224`D]\HK,F(ZU(`F2,`ON*!,D^J$ML:(F^J(P&J,.6CC_<`N20`GC.!/I
M:`LWJ@R_MZ,W:IGI.`N20*'O,)$72J23L`Q&"1/I:*.4``PIN@L,2@E$AGO_
M(*&3H`L6NH<O8:-.P*%.\*&[0#SIF*&3L`O6*(\N00N2L*$<"@4?RJ5K=*3_
M4`DLBIDJ>J=Y*A"[$*.`&J/#T*3^42&:O@"2_["&HC6'[G!F>L>(R"`,$E0O
MBZA+8V@,DBH\R<!S(FEN(BE:,=8Q18E!X0B<3N235A!<<8<!$\`^>:=W"JE;
M&\-F(JIV%V2:Q[`,K&()2=`#2I59N=.=4I=4IW@)YC`,R1`^^9:@,K%::GEM
MQO0A%D*%-^$P\0D'V)JMVKJMW-JMWOJMX!JNX1H'<?`&XGJNZ.JM!%J8.X&8
M.I&.%C`"(/`!L[".7O@.R_`/4#`"'Q`")<@,UR@QN=`$&Q`"(W"P!_L!%3`)
M+2J!++&O(;`!N>"8%YBO^VH!JY:ODH"P""L"(&"P'#L"%6""_["Q&U`G>@H3
M`&NR:CK^D2L[`A<@,7JJ1K/P`2.P!!$C>O*(#K;``2/0!$J($P!+"2/``14J
M,1)3"R```B(@"?^PE*DE,;3PL2@*L/+X#[M`L"$[`DWK/2\!L)4@`AY@"RG4
MC9@Y"13@`2*PM2"P`9)@KU8%L$MPL_^0KS.1KW.+LVSV#[8`LAR[M&Q;H2G+
M(>^PJ#*TAO,%/"+#B)QJ#H9C#E9I+,?R"I3["J[0"LJ""=1%6K3J#M_##+PY
MAE<*?*P)G"R"JG`'1)&0.%6EF;_Y#ZII>QS9,9O**MQ"!$H52UWB`^D2K#JF
M3X76#L%@#@>E2T7)K"^!9*T%K=G6GNWZ#]>:KM([O=3[K0/^R@9Q``?F6KW<
MNZWK:I@YX:XY(1`5\`$<\`%-P'G[*(F_<`$>4%<EJ$<"(3&5@`$A``(7X*%O
MJ@0<$`(?P`3@A:1U6[(?L`$@D+[,4*<`&P4B,++FX*.5L`0<.L$5X`$8,,$<
MN@11`(W_,`GXNXP(*#&3$`(6H*:;*0DDG*-6)3&2\`$?P+`)#$S.^0]*0,+`
M8*>Q^`^4\`$8(+@6VK-U=0&Z0*/`E(ZT4%>TD$(?DPL5(`(?0`%RNK\<$+_)
M>Z<J=0M=>GL2<PL3P+0<0`%1\*)0L`3QR@3J:U7.\`],,`)F#+`S`;!K;,80
MF0L8S*%*\+Y*@,%+T`1EBKQ*(97^A8N&86.3[2!](D,J>?(-OF`LE"L'U4(&
M8Q#)0S,M9G`&EDM=>M=KK3-!--EJ*[B^8=,.;.5@6'`%5@"4@I@KJ\MOL4H3
MDN@,GJLTHSMD'`.Z)_D+NR!YRD:LN4-Q/#"L0]!*0*8T"6R\O'1D'O=Q#,5?
M8?>6U0J];-"]TCS-UAL'CW`)E]`&U"S-W_N\><,3Y`L"%,`!&Z`+.$P3`#O"
M%;`!'T#%6OP/LV#`;JNF,3$+2M"O2[".>JJQ(%!7'H"B*LQY_Q`%(LNN-4'0
M%-![(AP"%U`G(=S!(G`!)ES%DB`"%A#0+0%>%,#00XRD`J&Q=Q6_A&H]E``"
M/6RA.XK^7/T+!3D;$T:,7$D\CA*S!"*P`0XJ$[C0QU5<"05,MI]I/;5P`2'@
M`4V0Q&],"96PCKV4QG$LT&^LQFS<TC11"^^+Q5@J(M-)ALKPBLY@#$^I-,H@
M5:)5+,62"9?P"M$2R=(BR6,0-&'PUD)#+68@!Z]`++Z@+<,P#?V@-&N6.'J7
ME+@'>#=TNJ5\RJC,/D<0"0$4?VAEFJCU#L6@@5+@`_JT5&"$+A3G`T@5S$$@
M!8JG..$G,JU,$^FIS+3X6G.$BX<)S>BZO=CJVJ[]VN(:V]K;VMKZ!K3=!G+P
M$ID0S=M<V[<MKMV\VM^<BQ4P`E%``2/@M$RJLTI-`2`@">S^[,[>N`L7T+8E
MR'GPM[?_T`0?``(;',,#7-$5H`0B0`%P&[<#7=!D`[O9&`S,L*\5H,D[AYD+
MW=#M*,(1/=%*7=$7+8$S/`O]ZP1GO+.Y8+\(#)H24](GG8XIS0%,8+ZU\`Y0
M^Q(O[0$Q;3VS8%=.FSC3H`S<'1/TV]-97#BZ(-0V;>',`'\@;J#QR-11[<8R
M`<=1K=?8"#(3M.$<0`N]EHU^_$(;@X;4MZD@HPRBY0N[@`FP4+F.7#1"X]9O
M'>52'LER'3IF0+G$$EGT[8B:2&V@MW>N0-A7\'8QDRM($#.1L*BCS8^[)YJ&
MBUIC,T^_`#NL%,RL%"84MP._'`3^=EX%0U(X@`>YWP#8C>:$4/@O_"6%;JE_
M)\3:W6JNY(JMV9MA<)"]N%WI\_D&EFZ]E0X']-GIM"W;D8[I;F"NVPOISR4V
ML)*]P!W<F[ZML7WJE/[JZDJ8X'N@U0./C/D/QUVD(JMQI/T.-5L!MW"^[HRO
M^@H"'L"PQ^"0(.,.T+T!MX##&CL"%"#@T:V^+K'`[)U[[_"P(GND![F9(WP!
M(#P3^BW1[LC"%HW1&:VO0RW2,\P$$3W$[D[:.FS2/KRCYSL+$S`"2O`/'^6D
M_T`+,&T]"8S"&*`+&D>/IO5[(R[M%CK#31`"4URW$WF`$"G#,-[&Z`S5<NSM
M`*OC$X[^DUI((HA+O&>F#(R,UD5#.E(>\U*^/U?R!3!/-*$CUY;L"G9=E*+*
M,5Y3F+]$9&'S#6$>:F-NRF5^!&>N.NV`#.-H>Q%X5?CH?_*GAH;##,?@;Y50
M6<%LYU3GRSV@8\',?KV08*(5/L=<Z/K5-O<W<@_U58S>,(X.ZY[^3:7.!FTP
M!W/0!KX-!WX/!W,PH-H<ZMOK]VXP!W+0]_+9ZK+M]_+I!M$\^*<.^-\D!Q+3
MV]^DS78O^87/K=?;!G'@]W&P^))OZM\ZW.'[,+D.SKP^`E"P#-.=WKT$L$VP
MW+M@5U1\I.^@"_8;\$P:C[-:\!P``BR=P.-MT?_@!/5.Q%[^2]`C:X$66]`B
MVJP=S-#G;OV3L-\07[+M7IF%V6M-7`$'EXY#Z\(.*MXYL>#ZCM)\>[ZT4+,?
MX*`^>K4&C^'6PZ3^_0NU^IAW2N(`@>[?/V;O9GD``>7?LG?_WC4<Z-!A0X@.
MG?UC,H()P8@=F6'4^&]:Q8C3_AWD4.N?P(XM7;Z$&5/F0'?_VMUL9\[<M':^
M>F%R]<H,F3%$QX`!\T7I%Z1@PCP=$\9I4J1*G8[!6K1,&3-FSJ!YY:H5)K)D
M>_7Z]L[<2W?`DGUS]84+EBMUKQA!<N0($B-8(GT+ENS?6HD/(Y(<B-CE0[4Z
MW^%4VP_=-&"\(A$1DGE(YA\]>O#^X+'#1V8A1:9<>H>NWTUF_?ZYGMG2Y"(!
M"`H8*)`;]^[;N`L@$/#GG[%A_PP1^B<X]N!_C]C`@1X=>IM'K%;)<0,KDRY>
MN!RY>4-]%:Y=N"S):0/GC73H;]Q4)_^+5R9'[M6S%\]*3AQ6N'3A0F^Z1RY9
M)9.'=K'$DDM@<8,].-R8`Q8&UY/.#3E669"-`7/YI;SO&J3000V96VXM3_00
M23&8&JI@!(6<&&&)%"M*[9U<-MC@/PX^J$2D@93Y9Q(0/*CDG8(4>\<D)42P
MH!C#EOE'$A$J0$<7#$10:*2!/HIBA`I(;`E**+Q<23&3)@GA@F(DDBU($2[8
MI3"3I+3^P"3$&C+I(!`D(6@R72X(048ME_.1DA`PR&4E16WA@$B,F-QE4(%H
M\<`#6GS\2$A'CZ%(19,J^6`#6Q1]!\HFW@P&'8%4C.FBC#;ZR*6/7DW1I3P]
M2$E10G?E=3&;OIDFV)YZN>25,L@X5@PRQ)"J*6>?"D,,K*"M*BEHL1)#63*0
MY:HK;[\]XQ5,;IH&G<?:<4<M8)#YQ14OYK+"KBORVLL*OYH1!AEW]N77M=3<
M0;<QQO9EK&#&UM+)G'<`;D>MUI9IQJ<H@M!L,R!\\.&S'7@`@N(BJJCDEV70
M^>:;U@SC=;;:>-.M9=T,`*Z/X8H[+CE"UW+.03CB8*.5@1[^R<2E2]API)F6
MBLDYQ.E8@2F3.!J4CN=+?L:EHP!Y7J4CDG!)K\(YJN;:P3;D6&N31Q3;!#R=
MH1N1L-A,1''0V%ATT2`/1$VRI8\D"8E1'GU,\IU3+0@FM9<>:DT2$#BX="0H
MI:S`:,53"MS(?[K\4D4QR337UB#33+5<54<?64HXY8R223L7*_7R$/"&THD0
M,L!%539C,XD2$!!55""_*T'GE@U"B(*@AR:MM/$RK03!@EL(,NGVDOX!551%
M%0;F`BP70IG0O%]%YYC1QQ>?5KFG1TDEEGIE?]>'S#G&&&!^<N6,8YMM:JFE
MO-`?6O__]U]6MD64`190@,A"UBO^>(&,9?S"%[[XA3/,@0YF]$(.7^@"%:A@
MA7AAP8-(0(*](G$,83"#&;]`(0I;TP]F?.,7[6C&,8ZA,!,R`QT33%@.%7:G
MFB3#'/U@(3-P(84A%'$S0>A,QD+3@R`840J7F&&P7KBP7JG,-KW)S6U<=AO@
M"(<XQD&.<M[6G.?HC`VP,$<S>/$/7K3B$:NPW2I,0A]'X*(ANY@#B*3#AJ!E
M`A:/J`XPUL**,NYQ%>:HC$@RP8I+!`@.U-G$)311DUU<XA*;8!![VI:)-BCM
M07+XA3ET89)+`)(5P?H'+`HIHD>`:29P\Y'W_M$BA?Q#"2[B7J<H:`$0%.EW
M@&L(!6+^-".8F*L6.YJ$Y1XW)7<$JP(B$)2YN$0FMW5D<U_J7)O0=(&93.)-
M<8+(G%0GO8ZH:A<6$($2'%()#WR`3PQAU4MRM[M$"<1WC2J2ZS9PB[PASU*Q
M/-,'=D>)@91K(AWY5*A&)1"34(I'1H((18(UT6"M*C&N"HE,S&>FD^!*?>T#
MZ7+2U0[ZN<(,6UD659R5%`QVP:5,66D88,K2I2#E*<^*EK2.5<!NG90,KL"$
M+]"QC&"TD!?3\$4KSA"&#%:!@U?`0A;H$D*_].(7)I2A,8Z1#&<H(X57'9U.
M2/8-'1J,,8DQS/M^2#)F^,(221!"$8DP!"!XYC.@^0'%AD#^A5>0U8?`2$L\
M86)%W_3&-RS[37!F]H]"A/%F9-09SV#A(US,@0V795KT6G%9-LPA%PW)&7X<
MX1S.:J@9[O@%=J+&AJR99!>D90.%UN.&-K!!#G-D0VV[ML='U(23#K(0,`I*
MVMHZXA_NR,6#/,FV5E93)K`\GTSH5DO=P>F&$2D():8$I%^:1"#!T%X4(+JB
M.VI/(0Q99@7<<1%V?H"@#.'2E%P9D6N6R7-HP@`M;+%?_NZW%K8P'3@=(LXZ
MD3,Q/FKO)-J!3G5.P[FX^X?N>&?/?S#*4<P`QC-AE3=*_=-.EI,$!T#P`27T
MR'@'1;!"%95=$%@O>K)\!T:78(O^__;7O[980DBBZZ/TZ2JD/WY)/][1C%]D
MPA5;*0.V_L<LFNK/R4_^@A>\X-(N2%G*3G9*&`Z(+*^<X0S><D4F?.$,9TSC
M%^CH1?W$P(4-&B%>68`S741XEEX\$(+`*`8RDM&,9BCC&^U833N^<<-@E?5<
MZ#I<NG0"1'=\PR>5*$)<B8`9(/P@8SO8`1.;2(1(A!(9YFCA<:OX#]K89C<&
M8%EA$RNS+S;69B6"K(,DNQ)T."<.3Y,#,!:6B>?$P;(^>P<AXQ"B];2A#;=6
MSQOXZ)!'['9GK$V1K>/`'@J-;2V<G/9]>#N0W[(GN`T1]JW7LXLD.9*5\XT)
M=-TW2US^4L8"(2#HD?)V2SY5>$<],LE(_A0"/NWX,`M[ID(>ECKUMBXC%EA&
MN:"$.70OY!]CPB9'A;2C#U3<XA=OY^G"F;H"LPIQ_VB"EYS08EL83K">DW`]
M%X7/?QPCPA]PE#+\J3R)GH0"(!"!!Y:@/I(DU'H,C=*A=&%?1>6B"4QH0M*;
ML`0^9=-50[IXU"N.D(WL^%:Y6A^0M3X0<[C#',GX!?V^G*RG2"LK3*[*3*>B
M/Y=RX0I5J((&X0YW+E"YIF4O"I>]O'>OM`(MS)A&,S"!!C2,(8-6<#,5X*P%
MJ7H0#*Z(1"1>`8M+9.(L-SG&,#X-L!H"VH<Z[#I.&L:J=JC^!HCM`(8O+%,$
M(!!!@T,(PL7NFM<B=@$7.0%UPV"S*RMB\;"'U4W,%ELS,;XRUNR9]3]P`:(W
MK"=19!PV'#34D*%%OST[<T-NWS`'.;"!%:!=)=8&$K9D:SLZ8_O&/WB]-NFW
M4OW.ALZWOQ&@YDM?$S];Y;8?#!-URY*6_Q"N+FFPAG"&=ZB%N_DL>_N;?'N'
M7=">?HLGPP@X@NB']'*'?I`@X2&>?U"&:<J<EZBO;$*H(%F<"S#!$T1!"\"`
M#]"X@N*XU3D<D:B2%40(/CF244NYWK$W1T&E'*,`94"E#E,>-HD>2>"EUVDZ
MBDBQG_,1TPD&'_L(6AB!*9S"$!C^IEB),8QX'0M`P2ZT@.&I.H[JL:S;.B!C
MC&48!JV:AE[0!$R`A5>`PU<X`Z,8@VQA%JBH0SN4*;;K`K?3H#^D`BZH._ZQ
MBJO(.Z[P,L)31#0`JEY80U<@/#*`%RM`@BK(@BW`1*FZ1"VP`KC#`B]PBDB@
M/%[PA3\3M!KZ!B#JAQP:*=%;$9M012%S!F!`(4HH`B*(NRJPF,[(-""(JRJP
MA%!:J^XA%,)"-2W*HE3KHN%S+%@++>0[(X<@I/MH/CMRAV:CD!'YAZ&1CO50
M-CE@!4W(!5[8A5P(!H5YQF?+FF![CN4Z/[)1O_S;MO<#KEQCHV$+$3:P!&:3
M1^9JN)?^Z+_EF*Z6>P?A\8!9")S-:0*'ZZXR<4`1D(0DV3V7$(AO0*?S:AW(
M29>\B8+7N87PN1QJ`L&'XQR)2Y-=6(9B*(:45,EB"(9O"#`B?$$#.XQ_N(A)
MJ!0*<`8;HDF9F*<)6[D+*Y=CVI.6^P<AC*6#0J5=B((-&#$FF`R6\+F%LLF@
M`\J!$`A=D(2MW$H*"($P'`B,8H)OV`659$F5?,F-\IPQ+,.V?(QO<`=DB)]C
MX(EV<"`Z<\-7(`,M*[MLP8H"\I\GFS)"U)]GD19NZ8JO6,1%=(6@@$0T*`,O
MP().=#,XP\0M6#Q.M((B<#,."L0O$`-7@`5,.(M?:`;`6PW^9OB\:3@&T;L)
M*CJ<6#0'9T@&8#BA6)B"CZ$"78P])1J-(2B"5_`%8T@&U2#&Y3#&8VR98SS&
M96RU9ARC=(R.Y-NL;%./J@$&U?+';60#ZU2N4Y*GXU-'AW"$=F0_:XM']M/&
M;JL0>UP^36*:=Y#.Z&B;QSJ1I)P;=A,XD\B(XK&A!EQ!A(22AF2H9Q*O@B`O
M&QD>&W0XC?P7=Q.!C3"&D/Q`EPA!D[P`EWL)@?"F%LP;.H'!F'B(9D"G=SI.
MY(PP>M)!"^N1@A`3$4"4ADH>_"R,BZ@P"OB`$!"XAYA*15&&=P`5RGDQF#"?
MB!!+&G5!M6P3MFQ+K6N("5I%8!'^*\DX!C)S!D?[";VTJ:+(NP'*0SVDED+L
MRZS0BJWHLL5$4\)[3#0P@R^@BRHP@KZX1$QDO"W@`BN0.[A#O+F[`B[X`E$D
M35\0-&$Q1==$M!A\!]G4B6DP&5ZP!"GXPR+8#"'HC![P14[K!6,P!M6HB5$K
M-5133N8$/N>D&>@TOOE\MLGZA\VB1C?`3NULOX&HONO31X<P![,!)#G8!/!;
MK:P13YU!3TWHQ^UDS^BPD"<L5IYAFE^ES^:RS[A9M_]+."#]``S0A8P4`0HX
M'@7$-X<0B%M2)W-1D<!A)R)YAQ^U0(7AP)=S%`JER0N]+]"I$8,IB`X5L"8<
M)\$RG%_^*%'+:9^?5+E[XD$9?,CB>0>D'-*:;)UV4((6XZ=\HQX5HS!&`8%)
M,`=X*HP:*@9FR+&J,U*08()2,2N15=(19-(F_;'W00=!*QE!VY=VL%(R,P9F
M("E>*)9CJ<-M0:D"XEDO/40S]99$3-.A1=,S^((L<*HXM8)+%`,OV`(MV`(O
MH((IF`)`A+LBP-J/J8(N`(-(B(4Z0[VK.D6XY)>>3-187$4?"A:?R(4H*`(-
MFBO8^P$>^`$A(`(PZ(7,.YF3\YQ2RR+?*RS?$+XO(K['0E7J[$YC?56HB57N
MM$[J2`U@(*[L\QGQ%#_H<\?ID(/T6[^U64_X^R3A*E;I6U;^5(W5_0/(?[C/
MA)4N_32>:5`&"H#(A6B'9XI(F>-6P"D(*'@=.V)=B?@(WMV`JA$("RR8B\BQ
M"OA1AM,<DHRX>+V`XI"X;T(=$.W)B!`(8"C1$V,?@%U1EAN)O)DXA$38!"T(
MX2G*@NC154$'9=`P[FV)[]&QCZ656-$;D*V5)?4H'T-9D*H)ED6A5`0B='`'
M5!PT='`&30V[!8%#G\J[+M79KM@I;NFIH%5,-6U,<6F%QFS,H3T#+^!$(SB"
M.,6"+<@6$-8"+X@[N?M#JJ5:K*6[+OC36-`%JU*A/VL,QQA9BD!;?@D687"@
M1WW;*I@K(0@"C.D8*<C;F<V)[B7^M95Y&<-21L4B7%-]+F9-U8&HSNAX@\5M
M5EE-W&<SKG>HOFFSK'VT7&B#/O9[I-M*3RZ>Q]$-77J<3N_#/\]U5EA;W6C%
M)1M*KX*HA-VYULYIR+QAIZ+$6*U1%69XMW!M".,-)P/D`'YSWG>M9!&<GFV2
MWONBWHVSWI-K".V=7?O%016=6/"=B)&8`!&8@*.<T=_5FH5!)_$:F?5U"#'Q
MR+RY$_Z<W[#$7U+&+OQUL+7<7S+L7Y!JAQ-:(54LX-;8%]68!F9H()K],Y\H
MEJ&(BK*+8`DV4R^3@PS&A$LH"TRPO+.P,PCR":"X8$7\X"S@H+WHBRWH`C$`
M`TSL@D[^A#M`U*"JW4VL[40KX`(O((-7R(4_0Z&`21@#4UEF;J$6F@9A`&)>
M@(7<W,RY"H(@Z(&\FH),/886@DW>>V($2+5D_%N8$0!6*]57B\Y^1%SK[&(`
MA%5MG%6V<03J"V/;(K<T]E5;8^.Q$0A<**/ZBV/0#2XZA@YEY4<\_D>7@"Z^
M/;#_*PAS^9->^H<<<P*;-(R&'+!IJ``0L"X8-`R7DX2*XQ,@:5!F2JMUA0(8
M!0:^J=`PN60,%:[I]5`""]%7%&4&_=<4!4J![58\Z2@0H(1;>.7"4,+$D&H,
MX#>1M>4405\9X<GND5^/]>7Z?8E9T3$Q+.9C-L/5$.!8A$7^M!6RB<!`'U*&
M=+[F">8*.9"#L`B*L2AGL+V)![H)G=A)/Z/+-/LR,TC3,-""I.4+([C$`8K:
M*_@8K/U#NKL"?9Z[?`Z#1@0&8=#4KK,G9?`SA#:'0DW%TE.59`B&P/")B7:]
MN*54(`""*<`$&?*%&TR9D%8UDL:BQ!*.82@.5RN^*S[<:%S5,+Y.F&;<$7$'
M;OQB=$`:SI*#H#&)=+Q<GF:_;ZNURYHVI1F1=Y#CHDY6[WL(TZU//896_^MC
M'B7))M"%1D'(U=%JRZ&$BI,1(]G(U("261`Q"P"&&WID@MM([)T&\'(1M[9D
MB".Z$=1D`SN33AXPCK,AT1F?PP[^Y>T%9I#.P5,>V(GX"!BQ`!@_2!IU!G%]
MB#4!E0LS9(E-Y:#[@%KZ3\:HP&GHV*0\TB;GB))%G\WF[";M%!'MB'TQH2Q_
M!SK+A+*([3M[3;72"985-&!0!I8M&:!`Q*$-@RF`4Q'6BQ(N`S50@ZCE@EN,
M6]?;S4S/TRJS6BX``UC8!6#X;F0H--@M&6"!W61@U%-/&$(+AF&@19\08B+`
M6B*H-""@@DN8!F-8[T3UU-KPO?@.W,%-Z?M.-RR6/C0R!U;E8EPPA]3Z[T<8
M)/YV#^)M!TU@A4P0+EYH!G.03M;2"=.5CC9`<,&KO#SBK6N31PL)I='%\.8`
M77]$7:;^5MVX<6J)@&H>-4`/P``F"`$*<`<MS]T7RYLE&+$F$*Z!V+U*H,$6
MA0A(1JM,>9TE"($OV3]XU:8T61.Z%K`/91)9RFN.V.LG#\IN38QRR04,`($E
MV(`/H+E_**I_&PA=X"49#_@O9\*3=P>*_X`F>#Z'F,A7"9S*#@DVQVRPU%^L
MB_.EGPBS:OHD853KYK-3I_K`L[-?:%FO"_3&`!@(:H?:]`5,D`.]2]/(U""\
M0`().(*HV@(S2(,TV(HMN,7-&())P_3FKH(KD+(J\X*JM8(I$,4Z6P9CB/H3
M.N<'*H9C:(9",X=3;*M?4`NY_(9<B`1&ASM;]X$BL(1V$(;^DA&U]O;;*`:^
MOR5V,%+I4V7IGAD(83/61'F'F&ZE7(!5S:V:EK`$]RO/U9J:-69C"_GY?_@%
M\Y,^X^*%9A.;S37J9V,:5D@/=]SP,5K=>V>1[4%0RVG8'8G(ZM]!DS^>:=@%
MK_R`"I"$6V`&=]B%67`"$7,G^$U7DM@)=[BY'7EK:WJX;/WQDG@'(5$3(7>3
MN@XZ"P`(6P('#MSU[]V_@_^`60@AZ1^SA!(G4JPX[1\E$!AR_4/7\9\M#AXJ
M_;LXT=D_22`XB*15LN2[2A8DT=K5[ENN219`>*#T3QG"BY4^;+CU42$Z=,R6
M@`AQ`8HL7=\@ZK*E,P03B!(O,AG^D35BQ8A=LTXS9_'?+`\<:AVMZ/8MW+AR
MY])]9]><NZ3HD!D[YNR8WV/&^GXK?-/=77/MVKTSY_C;S;*^+LD94\;,&32:
M-Z=)4\:+EBI%B$B0$`%"%C6=U:A60T7TD-BRB12Q4N7V;2]>OGSQPN7*%2Y@
M7F7JM8Q7)DS*6[EJ[KQY*^6]>OGZ-NW8,L?%@/GRU2M7K$A4B@SQ0:12.V'(
MS"*DN_7?(@$("M`O8("^@?OZZ2,0\.??,,/\8P@A_R3CGEF/L`$'@PTRZ(8<
MCCCRB!L.OO'(A'&\T2"$C\31!AP;,KAA&Q>RHHDFK"@8H2-R5.A@&X^TTHH<
M(#IX8XC^<+0QAR.69&+)(V^(R&`;<CPR!XA#/CC'(TVZH62,CY2(8X-L//*/
M6729Y8D>+[GG404C0/'/,OT@M,P[&7V`P2[O>/21+1Z`0!)8$GFT3!,>B!`"
M!Q94@,$'(VCDDS,(M7?,/U&,8($[_61YD)OOI.5!"!:T-1&B4(Q004=O3A21
M)"-@(*"G$H$JJD'N'`2J"!ZX^NJK(/@$EJK!7##"0\NX%Q9&(FS`T447Q3FG
M5@DAA$Y9%83@P0>S:'5JJQA48,$&(?@Z"4P)153)2K9XB11"DEP0P@A$^6D!
M!GJ&$$(4[P"E[3]=+4&F6[HNX15$_?`ZRP<>N&32K@$+/'#^P&9.H\PTA24\
MS<'*./9P8W<MUHX[CB4SS2_>P4*&&&64D9EFG:&QFAIC;($%!!!@D<4:<J2A
MQAH,-,!:%EA0\5H1.1-!Q!`YVW;SS57L]D477?`6!AG/;;8TTYH]YTITTU$'
MS##'-%,,,^WH$LD4HQ$123O&E&67P!?%-U]]^-6W7P']]?&/,0(2:"""_RA(
MY89NL,%&DC#N/63>;&RH9(YO[-U&&WS#H3<;%0*NX]Z.4VGAXH?_3;D;)<:1
MXXV&*_XXXB-.;B66=7/Y[5P(+<'!0\P8BLX[S"BQP9C3D(W0+>@Z"S#9;U;2
MA`4<?``"411(HDNV[=$KR09*(*;^[T3O7`0%!A<H47I%NDK"P;RP6Y3F!A48
MHQ!%%U&R`07!''41\Q9<\#[\[V-`DDD>`4/!!MC66?8_E83/D4<\<HOW[2YZ
ML>M?]2[PKXZ\XQ90J,`&AO>!/D7!*+93R$5F@0$+&*54AKJ(+B2AA'2!H(0>
M")\3*@$,N[1G>AP8T_Y,]0\HO#!;Y?L'+2Y@`6^5BF`^_*%[6"C$?]QD8C>!
MS&(<@XYD.&-LB"FB.8YA#F<XPSNO$$,8QF`9,W2FBR-;S=[VMH8PRJP!#5B`
M&MC0@"QPH0M<>`W0JO"S.%;A9EW0S1?`,`;,-*V/?ORB9N30'$Q0IQD,6X8Q
M@-$+6(#^P0H2B,0OD,&,;[Q#50$SFWSRDS;[W$=M;1/`V^(VH`(=2$MV6Q#>
MX!"'S2EI0ZOD7(Y8F<I7JK)!KR2<*V4Y.<IMKI:P)%$;]$8XSNFR08\;W94>
M)9<M=>F"=8&4H=I#MH],4R%V,1/Y)/+!A"C#%K3X)D<28A+E6;,?^JHF-`.(
M3HH8"IO9U&:DL$E.8QVD']Z+9CVC*406DN]U\O1A-.]IS8B]4YL)@9VAZ)D0
M7'R3%K9HH4(#FM#H'01@NZA%0VN!O+CP<Y[T=-,YW6(HO$P4B"8]:1"-J-(D
M/@QB=G$'9*91M6GX`A.N$(,6LT@&CY5!-6D8F4]9PP8'/.#^`1G8P`,<L``&
MV&$!#G!`%K90-"[<A@I=`$X=@?8:VUS!:!TSPQ_]>`8SD)6+7<R,9\K`!CF\
M@I#M0,8PC)&,7^P"%E*HQ#>6T8N(0&]7F)R/)O'324[:QVT`$E`A2.F>BRCH
M#6YX+&0C*]G)4K:REKTL9C.+62MI`A>P"*9F0_M8PUW)F<O\Q^E,:])Y>I2C
MQP*8-B^X3G9R%*6VO2UNZU)2BDK/+=-0U6SE<KMI]'`K]VQMP)";V^4R%R%%
M-"=T8?J-EKJT(^Y(AC$4TXM7D"$,8L#I=\<@AMYL80MC<(4<%K`&UC#`J!G(
MP`,:P%0[R,P!6%B95(M6--X0K6C^NODO<+H0!K*>`62:&6M9><I3,G37"T7;
M`A<@_%V<EA?"72"#'%I1G&\,0QC':$<O?A$,8X18N7#YJWY2+-A.&L"PHDPL
MW4SIB#K(H<8VOC&.<ZSC'?.XQS[^L8_G(`>#)&3&0#ZRC>O@".S-A9FH$RXT
M(66L?693G[N%)PL9QC"$!E>?4C8@E5OKY=GN\\H#O=U'RUSF?D+3S$%LLS7A
M[%$K)W2?R-KR$'G;T;<(\<Y:YC(ZQRS2*(M9SLP]M$F_,4GHFE/1KE.S.=Y!
M18SUPJ;=]:X8.(;%+[RQ"E@@`R8R,2$VK&$!&:C`!"20LJ<2]0'WQ8(6N/!?
M!]\1C[S^`0-_O<M'!&.&K&5@,(.UB$4P>&$+6L`"<*[PZI5EH=G.=K86UN`&
M5Q1'Q,'P2S"FT0M@_,.2?H6/?.Q#V,%ZTL6(52Q=+A*%""2AW>Y^-[SC+>]Y
MT[O>]KZWO8\0!8@L0QF5.`*^`^YN??_$Q!)QLFH1K?"%,[SA#G\XQ",N<??H
MBQE98W0_'$TQBGD;(>9`QC<660:<BC<,8#@YT;B`A3J"X1*^X,5W6N$(-CQ`
M`D@X@@12?9HC'.&^6MC"T&K]7_X>S;N7.8/(S/!K8(\A#$X/0Q?*JX5C6^$(
M2+AY:4P3@:U'@.=6Y_E]H^H%MF8BKPR3XB\HJ<QT@QL!^0G^+&%7W)__!&B4
M,9Y+1)Q0`A6DH.]^_SO@`R_XP1.^\(8_/.%58((<*.,E4-@[XB.?`A64P`D0
M,7A"$#[QS7.^\Y[_/.A##T15*1KC_7"'Q56*F(I)^AC;+<,8+FWRWA2[V;".
MA"Z*$0QA!,,9P,"$'+)P&R,@(>>I1D(5E/USIQ,=Y7G$M7=W2M;5*)T,)0^#
M@XVMA6=?P0@X+\T$PC\!"I!?_*G.N@1XC@0L`!T2F/@%,'[1C&$X)KAQ0;$F
MWP[W^LP=;G)#]UQ<Q!.8P`P4H`$>(`(FH`(N(`,VH`,^X`.BP!/DPBY,`@VL
M``1FH`&>@.6]2Y.A5C.)G@B.(`G^EJ`)GN!R5=([M,,D`0,ZF,-@8$)W#1NN
M<=K4;1\6>`$L]()@,$/&`$,R?$,L_)RS'<$0$`'/`0=^>0'S&4T>?4$8Y!'2
M[!1/I8$9?!?V19W43=W*3%VS04`$2``&C.%[E6$&C*&?5(`:6L#YA=\16$$6
M:$&&[14SH,,Q',C:!6#;Y=]^Z)^X]=^+`:!<""`!PH`A'B(B'J(,(&`,K$`B
M&J(C%F`C)F(DSL`D/B(,8&`!L@`,'&`F/N(*Q$`!9N(BCJ(C(J(CGD`-Y``*
MJ,`G8N(G,N(IPN(,<&#!F5)JH:`N[B(O]J(O=A[%O,,Q$-=UM$,N1`).S1[1
M&!NTB<'^)828,RC&+Z2=.:##,6Y!3S4`!.!<$C+;%NA4=]U:,F9:L(D7R>F&
M]CU;S2C;?:5,!%#`>VF`/,[C/)JA&8YAUD6`$5R!%KC!#C+#-"!#H7C;8NWA
M)O$A89G;/\!8*>GA`,X`+$*B**K`"9B`1;8B)CKB"O2=*\ZB(_+=Y+WB(Z8`
M"J``#,@`"ECD"<SB(7YD2:K`#*2`19I`1Z(B!L)`2+(D)4)D2JHD3(ID(M9B
M!V)>Z>3B+QXE4B:E4BZE6[C#8E1,_2F#(MV4>/4&%UQELY67%T0"(<&?]&1<
M.SC&-``#+'1,&C3``_"<$1A!V/T<3GF,&;Q"@C%=TYD<KD7^W?8YV[(AVQ4<
M`1B^8P;0HP9T`&$69@=L@&!JP'OA8VF\81;X8R]\`Y?QS]FL#8OU86&!DO_9
M74,.XC\\9$1B($7F`!%``10\01#<P`IP(B76``_P0`[HY`K@P&OB@$ZVY`[T
M0`^L``KT`!1$P1/,P&VJ0`[HY@V8@`X\011$`0ZH0`P\(@N<P`WHP&VVY`R@
M0`KTP!.8IA/@P$H"Y2$*Y2U^H%$RI7F>)WJF)^=-C&,<0S#XH"]LS-.EHQ;H
M!AE`P@[^PJ0=`SJ8T\-87"]`@F4P@`.H)3O&X<_%WF6XPBNX`AJ8`<<\'<KY
M1E[NY:M=0=5MG0140&!N`$M\*`?^&*:(TF,98D#6%4'/L<$EL*"9]%5!GLU@
M\2';M)AF!N+=>29H9N1UXL#Q4,0DG`!$(F(,G,`0,,R/!FDGFD`4)(PD%.)(
MD@0NT,`D3,4_Z((-N"(BSH"2)H0//,%&_4,0`"DJQD`*/`$N5$(*P"(&GD`/
M5$+C280N1$$*.")K9JDM>N!IE:=Z[BF?]JF?)M<3L>=?,$.E10(8X.74B8$9
ML%5;34<S>)@Y,$P=.HH29<TE,)CML6-;+M\6I8%SC$$-.AB%XF"RE6JR>9^&
MQJ.'@NB'=@"($B8')*9BOE?6*1LD]$)_VM^)M9TGK8VX\9]_;.;<=.;]?::3
M4J(,I(#^#GA+0M2"+-1".S0IDAJB>&*$F%*K"8Q)2APK(JI`):"#523$+N1"
M+=P`EH:GDJ(#,$R"JC!#+OQ"F$[KD`9!0J#I<R(K!^K*/^3"LTJ$))S`)=KI
M4.)B"/ZIP1XLPAKLQ%S7,?Q"+T3"%FXE+!#2=/@",`!#,P"&$F5<HS@E9#"#
M7MT4A5+!LB$H$YIE9S2'&^D7%W`A<%@!S,9LJ?*<ADY`8&H`J^9LSN(L2PCF
M&>;<:;!!+DCF.[@HVU5FVOAAN=7HN=UHL>;H(ZI`#;#%.]1"$%S@#.AFFB;B
MD#J!75#"M28I%-B%M&*BMQ[0,D2!#MB`#@AG4"KI`?W#)/3^`-LVY]M"@3NX
M`YIBXG7N@/HH0Q34P`JX@!/HPD400=B&YYT2I>8EK.,^+N3RXDLIQL0DS"+)
M@1>(020T*G58!R)I[,44!A(URF+\`D`.PR]@@AN87!=4*+/5)Q/V%`.H07.<
MS'W%4<SFKLSVY5_F7#SR;*O"JJOJ+(CZK(FJFA9<0M;DH1Y69OXEK:\JY+`6
M)-1:YY9.@RT<YVKR9IKJ9+6"+9)JJ;:6;=32R6>6P.3-Z2-JZ;[I"B680"OF
MI)#";?^DP+U:+[8DRMX98N4Q1B4`K/<N+L$^6>06L`$?<,2Q4*09$3#HPB5,
M+"_XPF(H`V1\`Q5)D6.TPS1.3-'^]D/I_D(R#`--<5?3M:[M(:A4=4S,S*XK
MI$&RR1',KJ41Z"[,>AT8E@8\TN-A;L`&P&J(&B;Q]JP\GB$&3$`$:,'[11I1
M3@3^S>C^T6@H-2VQ[FKUMB0-X(*J$($)T$!XRL!M?F_8BF]"D&\B>FM"S`(*
MS(`,G"1XLF])`(,.I#$;>^^6UN_]'J(*X(`NO$,NT`!V^IT)S,([[$(.;*W`
MCF>>%BP"+S(C-S)N*;`*WD3&>$=U+,,R:%DRM.<TG)X/;G`[8`ET)5%?3`.A
MN@*#B8$;Y>7VE1>FFE$6U&[888%:'L$,6\%:TK(-_Z7-WFQB\K`\BNBK%J80
M#_$&94#^`[1".Z`#8E!FN+'8)EFF]`KBTW(KM:*`#R"$+0AG=0:E+5IK^&;K
M&%.S(9KQ.T`!`6YSDNY;_Z"`%T>D&]MQ4*(`O4I*#NB`/=MS#E!"WH;I'7>B
M`).G(CNR0`\T00M78M0?9"B#,C2#Z2X#9#0#!2O,-YR>4R9S2U&,/5E,$V$,
M)D`HQ^`EM''!3DF=`ZQ!"[,!`VA!`SC`-M*R]WD=3!^!AN;<&)*A&<JJ/`:S
M,!,F8@[Q`["!*P"#.9A)GGDFC,8=)_DA%&\F0U*O.-?B$R`$):!`#-2I.W<S
M^*+K^(HS#)@QF";N^F[I.Y`QW]:QO7)S5"M#4A"77GB*$U#^LWCB:5PT;D'7
MM5T3M`+77TD@B_1\V%,FQ<04ANFU5*.82:1*CT<0*BQX--1M01S&81AXC&-G
MP17,#&O8@1HLP`.$84RKW\WY9<JDC&??7,VJX4W+(P^S!!"SA(?.XP8XP%I%
M)F,PL]O!W=MYTE*+TO2R717[<U2G!,!&Y"%[LU:'\[3B,4FX0P^PLW"_<Q2`
M]=NJ\UG;:5HO@RY<-W9?=R[HPENO\2'+-5S0]5V/-WD[\IQ5!&OMBEV@0SOX
MPBO\6M,Q8U19QACX!A58@66K@1W05\U-0&=_G5_&H1C46'.\0BO`0H.Z0B3(
M`1MHP?=Q:&!V:*N"Z`:4@`;T<`3^F!$;9$)UD)2N,C&O/J]EKDTT.RT5/_4)
M$`%"["TZ'V+72O6QLF^X<+49H\-R]W-T)\030'>6FK7]<G,0K#@-X`"1%WF1
M7^#Z_G,B$W!Y-[F3\ZF:$1J=W4Z=K1F='80&F\-VG7++-EMD-Y@64,$1Y/=^
MM]?Y;9WZ]1S[)4TK1/`O+*Q$0,8O.#`L1((67`$8[O+-KBJK$F8$,-LK]X)+
M$>5?B1NY_6HGE?@4OP4A'C<,D*D.H$DN7*EPHZOE]<\)M/.:DL2V.GI7)_=R
M>SJZJG-O][AT_[B0IL`.N(XM;*0*O#JLO[I&<O/``C23/SFNYSJN/]$O5`TF
M<!?V;9_^%YPRU&&!%4!`?*W7?MM!`V1`/B+!:3Q`%LA!+%#'=$Q2.R@#0":%
MQ4WCQ_(")L!"\&VVGN<TB+I*!M@7K&5!&@AZ)K/'T89;4JM-8-V'HCNUHX=B
M"@BR_M*`)ZXFUYZ`#R!&+LP`"Q@@"NP`,+`/C8.Z'+MS'>^XJ&/KJ??S]M:"
M1SQ!"?C[`6+D%ROY7(/@K>LZR9=\0=O%32`#,M34384!T.U4.%[5L2.[`\S7
M`FAV!62=3$.`%[Q"9")#,$2PQ>F%4UJ<#VI[$TV2+V2"*VP?!)0&!G0H8;I*
M!YP&LH5=&F0"I2IQO`,6N=FVO3,M9^([WZ;X3^A"#\`O29[^P+FBH@K8@"YD
M//K*I`N0A/8T?+>%>G-'/(^/^D&@J55C*PSI0A"H/0I4I`_H`*I_-^.*/&R9
M/.1'?B.S4#(H0SLT0TV=0=,IZJ]!W6^$=LK$5U,Y50:<>01XP3/Z0AUV<F$4
M=L:);C/\YR4'@\.^@F/G^7OU\&$^P#8:NQ7`FA:D`29(3_T1>H@+EF6FF$(V
M-6]S=2B>P$.@PRY$00_DYF]2=5CGRBY`@6XZ@;/H@@N2-7*C@S+<^-Y'05)(
MO'#'0+JB@RQ@?]32@+.@PS)(0A#DYA-0PC?$:Y+7^I(_/D#\$SB08$&#!Q$F
M5+B084.'#R%&E#B18D6+%S%FU+C^D6/'@^_<F3/WJYVY9+XPF2%3I@R9,5^\
M7,'BX,&#"!(D1&BP8$&#!QDP2("0Q16F7L?:M4.G3!FZ:2*G.7/&]-LQ8U#-
M60V&R56:+5EHUJSI@"P6)$:LR-2B9<NE?\J8N0/9<-J_10(0%"A@0&]?OWH-
M(!#0YY^Q8?\,$?J7S&'=)R9FP)`\>3(+%)((_D+W;Q8*%I0GJZA!:R`S9@)E
M21$X"3)HR2EF">R!(K+KR3-,8/[WN+9M&+BA"(32&O0*&"ERQ!ZXZ]W`("=Z
MWS[AY&USAN;^>=+SKZY'[]_!AQ<_GGQY\^?14WSW3J2YI^Y1GCFC,LP7+E>N
M0-`?84+^?YT\:<J@`@?*0`,-5WCYY1=@OIFF'W?Z04?""=L!9AKVS!GFF%TB
MV4*,ELC(@H$1&<C"1"R.0,**M$PT$99VOOFFG7_<H<LNO`#C"["_]A+LC\(.
M*T0QQFSDS3?C5D!AB$IT$:@=721)X;/BCL-!$ER^^:<=6R29P0=::($".MM4
MF(26671((0;?))OAA"C`)&),-F,XX8E9HE#!.-M6F"$%&J*899?E\,1!A35!
M<Y,Z9:Q;"#OMN$M/TDDIK=322S'-%+SUVC,'G6^NZ@4-,\H0`XPNLL#OB/UP
MPND!!P#\Z8$RYI/O%5>*ZD5777WIU===>\FD%TRBB`"++L+^$(,,,M10@XT2
MM<#""K/PPP*++-B"14L9&UVHKKORVBO'O@S@BR_!"#/L'R$7:VPWXOC\[004
M<NC!7AQ2V-,UXU0XP09[>Z#!!!5F<,&%%5C0E[(5##XX839A0+AAA!7FTT\3
M/JMXLA5D6&%@'0#.086!(W9-T>H:>G2[[C1MV>6788Y9YID3:J[33Y.9!I/Y
MR@`#C&BM0.*((R(@^B8))LC@U0;(@F"+,LR(VHPS#'3EE:NQOAI77+%V10L*
M)+@BBR]\3M:,-,C80MHJD+AB16M-W$);&6MT%UQRQ=51W!X%^%'=Q-HM$EX^
M^Y0A!1005T$RC1?_307$4>@SXA7^$(9A2M<29N%R-C.F_+/-]XV8A<@8W_BW
MXR"7DG3;3F8TY>Q6IEGVV6FOW?;;&^+4G*2^`<:=7EZ)FHPPO%#;BJ&-&#J"
MHY/>8`,'1LQBBS%6@GIJ^>236NI:YYN:#`DH0((*+KP`@^PP5DH[U;97K*):
M++S`A,9N&?H6QW+-W5%_=(%<=TAWC02QDL5@!@5<4^DH0\`"3FYA1VJ@`!6&
M0-.53("-DT$!9R`#"K)N.BB[#NRF<8QIC)"$)33A"5&80A6ND(4M=.$+81A#
M&<Z0AC6TX0UQF$,=[I"'/?0A#)DQC68D@QG'V!FIQO"S5!UO:,I;'M(PH($)
M8"MN7@C^`_58DD4M;I$ERQ)#&AI0@1X4H0I=(!L8DE6]+@!M16F121:P(`9>
M"%&&(@17_O96+G(%IF_]`QR1ZO>NZ%20D(4TY"$1F<A#MHY^"'D487`724E.
MDI*5/$\_!M(/9KAB/L.S3Q6J8(0B%,$(R3M"$7"2M`Q82P)%N$(9?8;&9"EK
M6;5TR1C$D$M3@:$,#IB`$*CPA3.B<0Q0*\,8N(`%4+;/?=ARA454@1?\\<A<
MYN+?W_XGN$$JDIO=].8W#<G(UW7B#HQ@Q"+0F4YUKI.=[73G.^$93WG.DY[U
MM.<]\9E/?>Z3G_WTYS\!&E"!KM.<!37H01&:4(4F5!&)2,3^&M;`@`4PH`$5
M)<M%,4J6FEAT+&2I:$5)%%*1CG1$KW(`2$E*4:9E]*0,.(0B%AI3F`(B``C0
MXTWSJ,=K'N:/`(1,#(`:5*$.E:A%->I1D9I4I2Z5J4T=JC@_R(D$_,$/5;7J
M5;&:5:UNE:M=]>I7P1I6L8Z5K&4UZUG1FE:UKI6M;77K6ZWZ!P/@(1!UM>M=
M\9I7O>Z5KW<51"`$$5C!#I:PA?UK7Q%;U\'N];"&%6QB$YN'`80+IWK,6P%V
MZK_`,>0TCYD<Y4`;6M&.EK2E->UI49M:U:Z6M:(U`768T<B#/`H/N-#$;7&;
M6]WNEK>]]>UO@1M<X0Z7N,4U[G'^D9M<Y2Z7N<UU[G.A&UW<XB(!B[#D=?\1
M3<KZQ;)^R6Q/BZ0"'-R`O.4U[WG1FU[UKI>][77O>^$;7_2NX`D>=-0_.H$'
M3J2"O_Q5A7\!'.#_"CC`J1CP@?N+X/X2>,$&+G"""ZS@!4L8P@YN,(49K(K_
M:EC`&U;P@3_<8`L/>,019G")+RSB"I,XQ"=>L8@QC&(.R]C#';:PC%^<X1RS
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MH'GM:V`SNW;#YNZ7BYWLS2ZD.>MQ^,,A'G&)3YSB%;?XQ3&><8U?7,\.<;9^
M4[%N3Q^:WNU>M<BM/6F2PWK5*I\VK5W^[I/7>M\UCW2V^_W^:9R;G-_R)K>F
M6PYOF@O]Y#+W.;_5O7-TE]KG.!_ZSU&N<Z'G_-PK!W3`?\VR3>G9X1WO>J/6
MP_6.UZPY3^$.=AK.];`W?.UJ]WK;PV/P<>GMLC[J'[L`27"]#^3CG#B%HTWQ
M]Z63N]Y.AWK4J?WTGON[WHUWO.%3#7FD,W[DB'?\Y1,/>7TS7?'LMC8HCDYH
MK`_\.VP7B$C^@?K4CSWM7I^(Z1=3=H%<:/7<D;V>ZQ+V[\C]V'O1D34'XT=E
M[UWO?0\YYCL/>$H+'OF+9WZ@GW_NZ%=:T=.?_K;_3N^G:Y_PS:\\]",O:.M[
M.OOBKS;W!QV*[D\=^=>GMOM%/7K^K9=>(+_@A4"L<W_7AWT8Q5@[Q-7.'-YA
M$3[!+E1A]:PC%PZCXS8$__1L4,8N%QPP[FYDNR[K]_1"X?*.^`C.^,8-]+PO
M!"FMY'`-_19/!%$P!4/0!%6P!5UP!*--%7HMZ\3C'9+A'03A#O!`O\PA&/H@
M`?3K'7)/`-]!!VUO`@5P`@'A$/Y!#P+A'Y#A0C1A!Q-`$)HC%1(@`0)!)#P!
M#Q(`$`YC$8#P#E1!"/<L(X8-C_1G7#20`XG/`R7-Y=AO\5[-%$B0!:7.\E*.
M^_[M!-%/Y6:NVEHMZ#H-#UE.VO[0WFPN#ZLN$!?-#D'-U,+-ZJ(-$MFO#W=M
M!DG/.QS^;A-R(1@`X0[^(1`2X!<"X0[8HSF080"!T!/88QH&!1<D\!V085`T
MH0?S#!`$83&PXQ<\81@\P0`^X1A\;1>JZQ^J\!<2`!&,`0$6(1@*(0$N9#-V
MKP+SQK+44,R$;^'<<-G@$`2GCA(33]M"P13`L11.P?#,$?$T[1P/[Q`OT0_=
M41WG41[94=#*L1ZC;AWCT='TL1^;SAX!,M'^T=\*DN;R\1[]42$#DB$),M#D
M#ST``0^0\=>H"Q?^`1V$\!_P@!$2X4?>81?P`!#T0`O_(1?P0`_N0!@`H1#^
M`1">D#&Z)0%4X1,2@#$`X0^,<5`0X0Z(T;H0`0_0(0FKT<O^=J3W?*\-N[$#
M\0OD2D']4*T<!7$.OZ\23S#>,DT.+_$<-:\J0V\@2W#>\-'0M$\2P=+0N/(J
M#3'Y8!`1Q1+\+''[XI#39%#@YL\C4A$4$^`.?H$8RU`9/T$(+Z03$@`=E#$7
MWB$83#(7$B`4CH$`!.$8_H$/%`,F8T_/\BP1;E(SA[(0\,`FAX$5_P$4!L`+
M.>$(BU*:>F^:JHE_AH',N'$IK\O9_.SXJ`_7H)+FK`XJNQ(=IU+[0,\1QY$/
M,P_0!"\N0^TXA;/ZY'+=<G,NJ?(LKW+Y$HTX?7/HD'/]JF[4X"_;W"\XM7+[
M@&[Y-/$N.\+A@'$1\$`1S($F83'^`5QQ&G`R#SJ!G!3#&'.A+F"R/6>1#US2
M,F62,5(!`0)3,T=H$/+`$Q(@&*9!#)-A#P`!%/H`#X)!];Q#[HX2I_K"[K`I
M-F6SDN!P')O3W"XO$<-11+VRT-PQ!2<Q1==/W^IP\`AO+;6S%%;T!?4P.MOR
MZ&@4.-&Q/-%#,SD2$?ZAUP;E0I1Q!_'@#@I3&3M!(/"@$)`A`7BA.?C`$%YR
M%V\0.U0A`0KP'VS2&5X2$!13`@4A#W(A`/+L'PJ@`#>0(WC/]PY.7)3R0[$+
M#NWPU::/!+,RU[S-(4FT1M]Q1/WT!7N44-D247NS(:TR+-UR4!<14,-O(",R
M/,XL$4#^00P!X1T4(0%2`0]^1#[_(0?_H1_Z84I_K143`0%R`3\%(@]VD0^>
M$!E6\2X*P1-2`1>2X0X`00P+,`_R``L781H2@`]`@129PSPU(@WU!X]^SS5A
M\TWM=))"E$5IM$0EU3H;-5&_<D=_4P6U]>9<-%Q-\%!O$T<5+SS%$=$J%3Q$
M(A@"`5@-X1BP(R@#H4*)$!#*,&?^`1$$81B6\0_R`!3^81<`X1>:0Q"LJQ!^
MC<D&$%3SX`ZL"Q?^``^L:R0F4A'T+!<`(0\`X4F)\D(KT%FI*0.#KT.E=5HC
MJ5JCC3=U%$7++3O5$3JK\REWU!34;SF7T_+"D_+@L5O/#13^9-8/:99;NRUG
MV3%<!34[X^TYQ_-<&=5G?_;30J%=MZX@Z,<ZM'8"E1$"Q^YK#:*1ND7W\"]K
MQ2,-JVD-?4\;U07O5'8V^VR_8DX0US(1K3/65HYI\\U%7Y;J<C3EO@]O#S'Z
MUM5;`8_D\';S^.WZ[K80S6_R5$UQ7RY&63!Q)==O"\UJ.5'/DL$];I!SY1/M
M;$9T>?$7[@`7Y/-"S/#TL`/UPLX]VL-F<N9S34(^9;=VQ2XU\X)D\T='ZO1M
MJ;4IH6U2;PT3S:W;-F_EW'$>;[3S7NT@-PT<US(=L9-H(5?I1!1Z05#R(`UZ
M#7=2=W8.M]?52*W1N))Y9:UY$6_^?#5W<TWO#-MN[8:!"+%6[.+7?AWB?<_6
M&B]03LGE=X%W9877-AW5:(NVY\I2._7V;POX>Z>3@0V8;R%X@?M6$26X@BW8
M@1^X;RD8:".M+FDP@"\E3M.61S@T2(9/A&V'-H=W6ZOR6A/M.9]OU>`OTH[3
MUM(11J_S$;LU^];UT&YX.O7T1&N8.8TSZ7:XU8)XW6;XUHIX#IE3AY>8TYK8
MTI[X7)F/>JT8!J<8^R`22&>&[;HNV)CURS`0^-(%A3U4A6<G1,L2.<<W$F%6
M1V'8$,G5@R?8>DO4>$54<!'M1NU87`-U:3<86[EU1@<9T%84$MN7C<_#X%C3
M?Y_U9,G^+"LZY9(Q.9,U>9,YN9,]^9-!.91%>91%N7,]H39/(15.8955>95=
M^95A.99?N953699GF999&99I&9=KV995F9==N94U[)9369AM.9:!&9;_2Y>+
M>94Y3):-616@^96EN9=Y^9F#F96%N9ISN9>=V9>_F9F;^126.9A_V9B/>9:G
MV9GY2YW;F9S+69PUC)N/F9YE&9N[^9V'.9O'F9S!V9_IN97UV9[/V9GC.160
MS)))>:$9NJ$=^J%)F5Z-$AO-&+,H^1T.@4@=>9(V`0\T@1-`.J1%>J1)NJ1-
M^J11.J55>J59NJ5=^J5A.J9E>J9INJ9M^J9Q.J=U.J0UX1C^-]I2[B(!$&"H
MB;JHC=I'WL$8\HP0`,$3/L$3H#JJI7JJJ;JJK?JJL3JKM7JKN;JKO?JKM9H1
M$J`1'*JLS?JLT3JMU7JMV;JMW?JMX3JNY7JNZ;JN[?JN\3JO]7JO^;JO_=JL
M.S40P'JP";NP#?NP#UL0!&"Q&;NQ'7NQ`T``\N`?-.0=5`$/^H`/-'NS.;NS
M/?NS03NT17NT2;NT3?NT43NU57NU6;NU7?NU83NV97NV:;NV;?NV<3NW=7NW
M>;NW:7L/-!NX-UNX.3L/#.$=)/,,?WJYF;NYG?NYH9LCTFX:BL$8K/NZL3N[
MM7N[N;N[O?N[P3N\Q7N\R;N\S?LDO-$[O=5[O=F[O=W[O>$[ON5[ONF[ONW[
1OO$[O_5[NY%!SP("`"'^`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>b69203a1b6920308.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920308.gif
M1TE&.#EA?`!G`/<```P,$!02&!@8$!@8&!@A&"$0&"$8&"$A&!@8(1@A(2$8
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MO>G,O[C`V,C+WL[!VL[.WM;&UM32U-;.XL[8Z=S.U-[6UMK;V-[>WMK2ZM;>
MZ];>]];GY^G.T.?6UN?>SN3BW.?6Y][>Y^'AZ>+>\^?GY][G[][G]^?K[^?G
M]][G_^?G_^?Q^?/6SN_>WN_BXN_KY_?GY_?OY^_>[^_G[^_G]^_O[^_O]^_W
M[_?K[^_W]_SO[__W[^__]_?G]_?O]_?W]__O]__W]___]^_G_^_O_^_W__?O
M__?W__?____O___W_____RP`````?`!G```(_@#_"1Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L>+$!0L48-28<:/'CB`YBOPX,B3)DR93EER)DJ7*EAL)+F@XCU^Q
M4Z-LV7K5RI@]BT"#/K2G;-\\5Z14$7)T2(',AO;X+3MURE8O5\WV_?OYSY_0
MKV#_\?.7#ALV4\7Z]'ES9^9`MPOG_5O6REHO6[?T;0W+-ZP]6Z9<.=IS9T\?
MN/\0)XQ:K!4VG;;L:>7:M_+#>OS^8:Z'[90K57O>O.ECR,)3AO;L%7-UMU<O
M?C]_>K5,FZ9`:XX(]:GS9L\>0H@5(TS=ZY0I6[5Z;:5<N_E!N0+G85/6QT^?
M.VS>/,(6O&$]>[U"_I&JA3PSU]G.TPO\F4Z9*5./;IG*0\>1*U?=O=]*5:R6
MJ\C_:*7>@'O-,\\JA(2"5RB$*!+?,ODMY(\]M9PR32W)$:AA=,L4P^`CECQ"
MR"C6F$(**!$N5$\MK;B"83%>9;:A<^?<EQ,BMR2"DS+6G#,*?D^AA]`\]K@2
M2BHN%J/91-#-2-,\M]QB32O;*&/+*.I8@XXZ\UBS3WZ2#13F0/ZLPXHDK+C"
MGS\R#O5/DTXJ-$\Z!E93C34Z+;-/.NJ$Z55W$XX55:"!UG,4:Z[,HDQ7;3X$
M9YP)28=--:XLLPR7`:[WUFG0[2/;H&^6DXIK]U&S%T1>/0HI0L7<THLU_NEL
M(Y>G^VR6F5-O9<8/;)EYM0^;6HUS"H:KN(+-9:DEFTYT;S*[ZGJ6NK*.H9,=
M%!P_F(DET%@"Q3@.*ZSX5\NQE\V)S3+*+)-..]D^2Y!1T_ECX$^-#H2K0`OL
MJJV`70TTSS@GJC*+*^<XQ(\\TW0(V2VV%%/--ND(N:ID=&ZK4'#[[)IQM[#-
MQL\TX?J7RK(T58--,:.$DO(HHQRWS3;J2/Q55`3);)!Y`M9SL4Q&94PKH[[^
MHXPKU/3"BROR/(3-+2H'=M\IH(!R"S'IU"O4A,[VA7$[^W#]*[9CA9T,*[W4
MPHLM25]VRWTZW5++*ZX4,\^O?75LM]8\[Y./_E'\[&.4/U_[,W3(M?"[T$_S
ME.VVJVN?,@YLELU),G-?W9O8WICW[+??_"2NLMFNR`6J06RN4\PPO9@2RNJA
MF'*)@Y&I>I!YFG)%<X`_U5/-+9[=4G6,V@9/9K<#Z;P>Y#H'UXXZ^;33?#[S
M0`^]I_+]9XLKAJJ*GCWM&'>*T;?X4HPR.;IBX:D(M0EY;)1YNMXZK\0?OS4T
MRZ@K^EV=EYE<F-EC()'*4\?REB?``OKM';Q+1W)F@8UQC*EFVYI'A3[S'M7]
MQQ*LJ<8#$R*CV.R%*V';7S"&T8QFO.(;(+18OTXU#XBM9Q[+:*&!K(&-6"EO
M@.T8H`#Y9H_]8*,6_J9@1"`$88JT$<]B\G#%>QX1BD0\0A&FJ$4H3B$W_!&D
M33:KF:ZT,HQL:",;MVB'%;4UFU19PQW=FL<YTC&M.1%I',&96SOFT0YYY'".
M^>@;A8;EBDCXHA>^2`4R5#@\>BAQ%(E01"(008A$F,(2W_.47!X5MG$DHQCU
MX%>3"+6/=63,&%X$(Z;$8KSBO2DU\T"&.,I1CG&$0QK)D(8L?>$+:?@B.&R:
M1RX[US==%<D4K%B%)E`!BU+(PA8#X9:V%,@(1#2B%:UX19J08HE41`9K/]M6
M.BXA"$8P(A3R(-2@QI*.5*RNFK=H1C::<8MM"$1G^Y@.G<I1C%5L8A6^_N`%
M+VCI"UK0@A>QH,4F_#G03:3(8O;[QSMZ\:-<Q$(6N<B%+)0C(X_-HYK0*$4I
M[``N5P0S%8\@A2TD&!C1D:D6C/@%-'(Q"5)HI1XH.PZ=3J$*9$#C%ZM`1#..
MD8U79$,V_T@+&^3@B%4XH@^'V(0J>(%/6@I4H(8XA"DVT;I*`.IV]F,3/]R!
MG&E$-!>P@,4LD$E&;4JB%[M(ZR10$;=;K$)UI&"-'@A!!TL\RA6ET$0L-*$)
M.\BK%70P@QS,P`=;/&(6JJ"%+&#AAV.4\!76V,H\IB$(+OBA#I:=0QOLX(A-
M4.(0EC!$;@A1AQ)P0`9F^(V(\M,WS$R(7_[+_E,M%MN)4J0B'-^AF5;GD8I8
MP"(6FX#%)E(!35>``A&@&$4@"I&+-ZQ!.?V:!R\@N@M8I$(/,)T#)&"1BT[,
M(0^@F$584=$)1Q3C&,=X137FX9Y0L"$2G\B$'.P0B);*@0ZC6,0H'C$*4:2!
M"3WP`A<ZD`8H/@*7;X(-K>PQ&^[YIVRT*$5M2S$AFB$.-K7(A2YBL>%4S*(7
MKTB$&N10!CG,`16YT$0;0+&]<:BB$S`NA2_F$0I&Y.(7O\C%)M`P"EEL.!:Y
M",5YC]$*98""#6K0@AHD@0M<V$&OO]B%)K3P'E>LXA2"R((;(A&+66QA!455
M182F@PT!)>L?Z3"._HMZ@8I)3((5%09A9NJAV$Y@HA.HD(4J4F$*-;1A#H-(
MQ!8T\0M4,&(..F/?;,%:"G;P`Q250$63AQD(52PV$YJ`A2N&,8QC&!?)7O!"
M#M2`"5R\`1:3P(4F.N$%?>ZS%W)P0R=PL8M8/"$)>^`%+8*C,U-P(0M<8$7G
MEF./=/3G*K3(\RQJ@35-S2,9O)"H)V#1"4VH(ER/:$.D8Z$*/00"%K*8A!W<
MMY5Z\&(2F6BI_T)1B4Q\8L.[V,0L-)$)&$\B%2,,QBGDL(9!%"(2:U@")#P1
M"5@4?+N%H"4O5.&*-10B%K@(JQM,L(?W6&X!X%G#<NV`AF5,B$C2F48R_H2H
M!STP0A;4\#B#WU2/9*@"%<3,!"0&84P7$:(0F0AK)B)AAVJO01#9R\PVHI$*
M34RB%]M8!RE(L0M=-%D7L*@%*2*!B4A$HA6<#L8HN,!E7,0"%6L`!"`R45U9
MX$(6J%#%(0Y!B4JL(1*0P$6I`Z&%2+PGCJ;01"Y\D0M)D*+"\C#',LYQW3:L
M80YN8`0RSC$/G?FC'N60!33`L8M*5)NMK/",*3K!X0W#`M.!<((KM-*.9=QB
M%,NHQ2Q:88OD(@(5$/>$)W#1B5`L8NJ9"(4H7A&,8YBB#G;V!";H[09.R!H2
MF;CSS'_P@S=X5A.X<+HN(*$)?ZXB.,LH12XR_H&+3&0"SO:0!S*$<0YD`*(0
M@?#"&M8@AT;$XSO^D`<[:@&+M-(BTKE(A1\0L0@DU1\7[V9O`G8-TP`*C\!_
MHR`,PT`,MG`*BZ`(BR`)G0`+G@!CD)`&>'!8K(`(9P`'>:!?CN!T3T>!F[!E
MF,97==`'7/`%7T`)FY`)G(`)G$!P;Q`)-X=]KO`+NN!TLC!(SY8*PE`/DK`&
MZ89^=G!XV*!+\Q`/O9!IN;`+N9!L\R`)?I`']%$'Y(4),EAPOO`*<L`*A#`'
M=>`'C6`+^*`/Z(`.U[`(B_`'>1`(F`"#D8`*<#`&BR`*>"@&8S`&4S`%ES![
MG0"(N,`+A5"(D7!6_J"@"*/@!W=P")50"9O0"9^`";*@!X_$!L%Q#+Z@"S"6
M<T6!#:E`"LP@#H.P!E!87<U5!M1@(/Y@#+-0"O6G80^U#XB0!VD@!VEP!H$0
M"3,(":C@"XT`!7*P68.@!VO`!\6@#^JP#^J@#J#0AG$0".3E";S0"G)P!G\`
M#'DX!E=P!42P!Y(X@Y_0";Z`#)*`"I=P":EP#91R>H30B*:0A9J`#'$P18Z`
M?<4`<=0F"\-P"]-P"ZQP#KU@!UZ@81$7"VZP!L8@#_)`#<)0=)JP8=UU">G`
M!W00!5>0!G$0!IJ@A9Q`"^%`!E.0!7:0";Z0"6J@!F6F#LJ8#Z*`"&[8_@>^
M(`N\$`V"D`=X\`=W*`IZ>`53$`19``B<T&2<H`G$\`K(D2;"\`K-4!.390EL
M(%"JH`G2T`AQ0`=]H`C!<0JWL`DQ&`FT<`J.8`KJQ0Z^L`5;,&N!V`DI:0S4
MX)##D(Y<MF&`X`C4D`=H``>@X`=Q``>]Y0FHL`F@<`51\`*H0':P$'#)R#Q=
ML@A\@)-U@`S1X`ZM8(5X@)-_\`=BX)-#,`(9``B5X)&U0`PF=`J\9PS7\`U^
M$SWKX#J44)/)$`=7F0=[L)6*@`H="0BNH`R&4!BW(`^],`<[``@^A@N`X`1E
M8`O&8`RO(`RD$`AWT%V=<'ZCP`=R@`B(T)=X_N`'T!`+OU`'8Y`&46"*,I@)
M;K`$IG`/S7@+?\"7EPD',#(/;H@'<8"3>(`'86`$3#`"#9`!B>`+7H<+R,`'
M\:,-ZJ0-7K,\WO`-MZ`(XT`-ZH`(]$D?F"@3BYA7F)8(EO`&/]`%BK`,<]`$
M-K`%D9!N7U8&HD@,H]`(<L`%:D`+M08(0R4'LID&9+"':2`.?Q0&8``&4E`(
M.O@)GY"8H<`-W'!1&DD'LNF7^V`+VEF??7D&2&`%,S`"2$`&9M`+&N8+I="C
M8)`'H]`,_-`\_*`.7L0-V6`*/3(,?'"9?5FA;W$&9P`*H=!2<,`&;?`#4$`(
MPK`&3"`#)Y`$ZW<#_BK@!*!@#()P!KE(!EP@"3D6""TP!59`!F00!E5P!6!@
M!;T0#:&`!%2`!%-@![H@I!'7!JQP#3#C!QU(HVF0!GY0#XC0JG``!WU9!E.`
M!$6`!&G0AU&0".0`#>3`!U90!5,`!F-`!J?`#_#`#=7P#-G`#</`?\LP"GD@
MFW'`!G$0',9*!Z`@"H]P!9/*!FPP!66@!$4P`^B*`NHJ`RN`",)0!D@`!D<@
M!(QZ8YO`!$P`JE-Z!4.`!%?P=W10!49`!%'@!)[P";*'"4D@)<S*!4@`!VD`
ML8)U"VAP!1UHHSX)JE/0C;=:!69`)^80!E<`!5`PLE>0!^V0#@;:#&CZ_@IY
M\`?#X(97>:?9*A/&>@:C<`I_<*E7<*E3,`3H"K1#,`1$,`,G,`-%$`=]B`1(
M,`-0$`5U(`ZD$`,B``%,VZ],>P5\,`Q,BP1$<`0R()3"MP,KT`O7P`VOL+$6
MVZIG8`:[F@9N:P:W.@48&0-'<+=,.P6C\`^CX)-$\+-#,`5G\`U>A%[:H`W`
MP`=_8`O5&@=P.ZO:BJFB``Q@X(T9"[0B$`,S,`1'0`1`.P,BT`%'$`5->[<C
M<*L<*`(9(`+].K1'@`27R@>N"[0H\`2<<+LJ<`*M4`W<L`B3>J5R2@;=**=G
MP`97<`2!RZ@9,`,U@`10,`55<`;ID`9Y2P0R_K"Y4*!..]4,VG`-QZ"XH%"?
M-JJH:1`<W0@&^N6U/8N\,Q`#("`"FWNW0XL"(B`"17`$,X`"1P`%=SL%4%`#
M5<NZ0QL#6#NT(S#`*#`#.\`)G\`):V`#B&`-PY`'5WH$5T"I9T"IN6@&9Q`%
M=GL%<ML`Z(H$I`NJ@SD$I#L$(G`$,3`"/J5.Q^`,VA`,[<D'-:K!Y2L35W"E
MM4@$74O`[:L!,("N7\N^([#"YPJZR%L#=\O""P`#!KRY3-O"(]"^,1`#)Z`"
M@*`+NT`)-I`#?#`*83`%8="O%HO!;9O!1P#%4<"_""`"S4O"18L$FNNU,0`!
M03L*ASL,P2##S/`'_GU)!XMJL6<0'%:`!$,@IT#`OA"@N2"PND'+OO2+Q$>`
M`B"PN3,``N^KNA#PLR,0!/$+RB-`M3$``S%@`SM`"[^0"29P`S)0![M*!IU[
MP91*!G(JMU1+NF10`PF@Q(&+!$'`NC/0M$>,PD3PPMD0PS/<IC6*L;9\`#*!
M!$=@I54*M/P)OZHK`C!0O]K<`56+Q_A;M2"@N2T,`1GPOH@,RD)[Q%2KS2$`
M`S>P`X'P"[-@`R=P`^!LL:]+J1<<O-,\!;9,!AD``6L<OTU+P)P;!""@OT=0
M`S[U#<[0>\>0N+,*MV?@D[8<'*^;P"-PP",``9L,`@N0`1P``>8,`0T`_@$.
M@`!)_-&;O,;OB]*>K,Z82[4@P`$<(`(YH`0V(`AZ<`(G4`,EG0.">P863,L7
M/04U(+A8.@4)\,8S`,6O*[0#O`$ST-!$<`K<<+CHQ0R).P:X&+Q((*<:?:Y'
MO+D@@``@+0,B/=+FO`$F#0$(@`!5+`(H8-*:+`)'#,`)@`1`T-$$7,5'K+H:
M8`+W?`/Z:\\B(`,X+0+`"ZK=>,$C&P4V2@90,`()``&9B\?]&K_(*P+OB[Q1
M$`P'V@RD#0QP0`9PH*AF0`:0'1R(/`0=<,`HL`$.``(=`+H.D-D0H`$9H`$F
M/=?UF],*``$6<+0G(`(:,-=1,`1%,`1``+17_H`"'``"&K``FBT")\`!Z%J_
M)P`!0WT$7$`&42`%4K"Q3VO+<LL"&J``;RP"#J"YGBL$G"O;$.##0S`&CN5%
MWNL,P$"^'*S&4$`&P3&T,S#;*#`"M]T!V<T!:HW='`#<"X```Z`!BST#Q7VT
M^"L#(A```U`$/_O<0("TF@W<:AWA`VW2&E#2O0W>11`%MNR31U#4<GL$-]`!
M[JT`*SP#$*#.\CL#&H`"1#L$?-`,UJ`-W-`,S.`,K5#1<+NK3$S@,O'<LCW;
M(W"N`3S<$+``&R[7"*``&9#<,G#'.3T%1Y#3"!``5PT$1C#B=?W-&A'7"P#<
M6X[=<Y[9,G`%QSJ,_FK`!B(9SB*@`.ZM`</,SDB+OT=\!$;@OJ`P#$E^#,:@
M#<XP"G@0L6R0P24+PL&!M`=NUT.0X"8]`SG]W0N`KG+=$9J=T_`+`QP0`V/.
M`1/NV,C[Z2-@R<#MX`NPVUM^!%LNUPJ0`%4+W$.0!<PE"X#`!5-P`Z!KM!"@
M``/@`#)@NN-\U>Y[OT"\"'SIVG!P#,P@"GW9JOZKWCG\%IQ.OT50!"-P`J4^
MW/5KX1R>$5N.`+Y=O]>[V-S\Y0B`JTA@!%5\UR:=T]BMX@[>[`@PX;=NW8,`
M"Z,Z"6N0`Z`+J*R.[_9[!,$,OYK+O)KKV!><!].<!CLEH8YKV6<@!V20_@9L
M<''I>@)*$`6@J]QG/NK<G-S@+0(3WMLE?;W=+0-;7K5";@1-VP'67;^:W>N]
MCA$43O3:K`%N``DQ"`E:L`+</0,R(`,PX.Q?/@)W"[I`/0-14`-4*[K8K->@
M$-%X0*LB"=!F4`-G,`7!400WH`%38*[UJP!&J_,Y+?7V;N_P7M(B$`4G<.;)
M+0)H+KI&T*]W/=C@+>=][P`3CMW%G=.:ZP60``B3OP5+<,\UT+XZ/P!S#0&<
M6P0L@)Q2P`34;=(.8-(=@`(QL`C><`I@$`=E+Y)G``,S?@3!80>3H`FE8`;)
MK0&]+/5\+P-:,`=+T`*!L`4LKMGL*@,?P`B%_O`!&F``*N`%"[`!]UL$2[`%
M>C`)6F#AW!S7-=``"5#<$)``V-V^;J\#PSGY9YX#-U`#U[O<`U#<\,L%A)8+
M@5`$V_W-66ZEU`H05<[$87,F310H1Y`<6?#/X;\%N7!YZF1F!H<%"#B($,%!
M`X0LJ7[]RO4K5A($&3AL-*%@R2R3>R+ETG1"Q(PB=#+APL5)DQP1$#)H,/$1
MPH($"S(@%3ICR)$B-U2H6'%#Q(DC,V;(N(@@P`((-POI(HNJS(BM1Q%`@+`Q
MPXP,6=FD.4/&[A0R-1H^7)#)$R<W`\`J6,N6`P0-%B;EVO4+5Z`""T!HZ"A"
M@X9)NG[MTH3*#0(4_D-FS('UZ1.F05HT<+#@$2/8!1(6S&[`8<33K#=,K)"1
M8\:1&UIE:$"P=B,'1J5QZ5*BM2UA!6`Y@$"P%404,E.N7"&#G<M>APL@8>)4
M:,7'C`ARR#@1(X.()\MQ==J2409'$3#0KO"+"Y6:`C0`8H01.H#$$T\@>4$!
MQ#3(((/G#)OM*`AD".*((VJX00;V<BBB!JVTXB"!`-HZ(8$L_/HDDT`4Z&"C
MC,#Z*(/J1(@AARG.J,N,(V*H08&'('(A$TP@<0,]!!28P3<8.%JC$U@Z*>0#
M#1SP@PY!\F"##"B8\`(0+YQ8X004B)@!B!B>8`20)S[88(.C-@"!-1V<_E@-
MMK!.J*&&(?;<ZK<C<MCP!!G88A`Q"!1X(I-,.B'E`XXX(`PLMB!(@(,;,23#
MH"AB."(*\"`280M`W(!4+;!F"&Z&)"8AT@T/*(-`CSH04>01113YPX\Z^.B5
M#B:<<NH$)E8P88,.1C#!@MEV`.036-I80`&,$-,*Q!FP73*XK.Y3JZV.-/#`
M"3?66$,#%#C**+I*)9.A!H1RG`***:8`-<@%1DC,A";56LLW&5!`88XU5O#@
MA!-`@("//0A9Q))'%I'8#S]VI6,&&V>(880C;!)A!!E,P,B$23@QV0L%#+A/
M@P4T"+&&(F2(84D1U0H@``0HB[0##2CXX`0(_D#^*`$$*%V@@9LRC.***9!@
MNMY0%Q`A@0QBV%@M:E6MP>H8.-+O8Q%H%6014$!91!1%$/F#$#[HJ$&&#$6;
MX8-L12B!7X4!&0^0"PQ8`&&$KV(BARB.X.BW'#H."H$!DGS/8Q&2+2+H.=E*
M#S:D0?QT.[SRFB)J"!"X"6,('$B*@R/DGMEJD$?@B(^*'P$EXD72UO5*C*68
M(K@<1,C*)L`_N"&)+5:8C=H,"+W)PQQJ`+KYK&8X0=(!2N0@71&PYP#CC8Q:
M((!#CQ+!MQGJM<LN*.[E*Z/KAPC*`0WFL$'8F376>(03],T#$4%D+YMV1!#"
M#WFXSQ2D<(/@H.X&_AMA#_"ZERBEF$`$]U%5XDB7K1N`R#(*P!E;.)*N^VPO
M.$'Y".,*(ZGQ+0D[9N!.O?2"+\)PP"8.2!0&GJ`%)0@!+5I9W0SP)P(Z(`(1
M$?N?Q-)VI1B<H%Y+(%U6.@*Y!UHN!U*XS_("=1$E94MQ&N!@XY*6&XQMZPA<
MD0'.BF84"`@*0URPRQFFP(47\D4!",P>8AS@@34\(0DZG)GJ9H""&'1`#HM`
MQ")D9\B(*4(0?Z##!)D0A2+DX"@CW`A^1``A"!VE-QR@X`T\U!6N:&AE)ER`
MJJ:`H4")X`89\A!7O%(TRT%`*[Z9@AG.9\"H%8`)2_"8`ACP@2ULH0A!_M"*
M:%:7+M?)(6V-(%O9#$G(/312!%'8W0PTD(`QX@<&''C/)=NU``8F+5LRB*&/
M8A:4ZC4N@TB(0N%R<`+$77$&KYQ6`A20@.!D\'Q/4U]X"O`!$W@,`@Q8@AKD
MD`,A.$5;]4M7&OB'R-D9,FUYD"8UYQ>4'*"@DE7LB,(LMP`.!05N7!%!<629
MN/LHH'H!&(`JH\!.#'%EE1CRC4IA29CJJ*I\^\0EOB:@ABU0!@8-2$`>+,$&
M/O5)J2'2"@K.($1%-/.0:B,$'#:BN^"<H)0AG"!'0M@N"%"1+2?PC4V^!X%,
M#8<P+&W9$*C)!`Q-,%"?&J,)V56<4-Y@A=N1_@(4HJ:`'F#A`CXLG1]`P08A
M`$=50^#*#%AP$0Z@X1&"*.3LS%8[1/B!#1!08K#NLP#G@8`CD.M(6XZB`2D<
MAB-C[$KCN)(5ZC$.+#E`PA0>V;LE8:AP)V#<`!AD3P3(@'=0L,L5N``U?$G@
M!U^@P0A0P)8T/"(.OO/"',HPFRRHX0DFX($>'I$(AS63;+;[@QG"8H548H0]
M^&$/1QU$(<O(8".*FQ8!!@#/;'[O9@>00!&HZ4X-R*`(&)*"X50J@*0X`"DR
MP`&@>/HY?)'@"U_X00B*4*4CF$$O:@C$(-P@!QLX80LOR,(=*C%9/U36F81$
M!!\^)X(K`&<E$I`@_GNO@A\'W6DC%T%!#3HRFXPLSYH-*$X`#G``%%`3E5M)
MW!&D4(22#D``L,E("GR3H?-E!\)\J<,A#O&&$N@KC24`IQKTM@8]+&$'6G!!
M%]YP"(CY06)F,YL0_\"'[VC@"DSP\0)24,G1WJ>*JT%,`G2V$:L<!B,ME:G-
M9I."WUSA@#.(PDW@*@5)]G8V#)@-!WQS@R'@A85<BEH?'$&)/L#S,#<H00DN
MT`9``&(+@M""#FK=A1_L(11]2+'_)"9$0?`A"V!AFD8Y\&=+!JR*BHYE1W9L
M&:5P8``NXPH'BE.T`QQF:8.;`1VRDKC"$68`!R@:@P;@Z1!U[FE12X0C_MQ-
M4@AP80DIL,$:O.`%+83""UWP0@],3(DLB&`*<:#8$#.;ASAPP0P!G4(8IB<#
M*4CMQB'EB%&0Y-O1_7@!.4B5JC(PJ=B`Y0CUT@H;@N5)#!7GW%]ARP!P0#Y/
MW=*O^"I&,7QQ"QS$``)%J,4K+M$&-WCA"4LPA1>`KH8^J((24>""@`TW!3\<
M(4\IT`,.F,`$AT/`#'58`G[:L][2'N8HTZ+T5H*R``-(H08N$U%Q0"J;WU`S
MH[CU3;CMF8(!-``L*DO<#69&!A8BER^L:$4M4C&$`=W`%:Y(A!?*]80^6&(+
M:W##%BQABDH@PB*15$`6WBFR$RRA#2U8@1+"_K`"".S!%-*\BLP\]I&5?$0$
M8,%*H3`B@HA/4$0X74`;+(&((MC+-Y:A6>+6,H`Z#."C>>C#%6/`'2U'C1'3
MW\,?@U*'.MB!"_9>@AT*H84U<'WZDDA$(M1@@QPH`.GG#Y@:RN_M*8Q@`<J<
MPO0ZLA6;<%,#D\$('=30AC[(`HRA$0X@A#:0GIF9C3:8@S=(A%!0A"8[@A2@
M@P-$`:@X@B1!`#_X"L(X`#IX!,))';S0CBT+#TEPA$KH@QMP'0W8@T#H`_#3
M@B4(A$+@`J-3@TL0A$H@/SLP`8YK@T!0@Q38$#38@SUH@^#K@`2(@CK@'J_"
MF,H`%Y:I@SX`+S2X_@\0F`U!4$&,B8'9T(,]*+]$B+IVNH$)W`..^8TB*!H$
MH`,`8,.-$P1`&;GB*D&(8(1*<`1!8`(6[(,P=`(OR`(=F+X8U(-+2(1*N`1+
M2(3!4H`^D`0]\+03T`-'2(0ZH"V6B0(_D*'*X(K\0XR@F+TZ$(1$8`0Z\)8$
M0#X]\*K96X`Z:)A$Z`,"@BL)I(,F7*P<,!T%(`/?LB>04H3!>0KB6C=\201)
M2$%XZ@A!V`-)R():TP))8`3P6P)).,1+"(5)L`05X#ACW(,/>*=VL\3$$0$%
M$(%-C!3=BQ1P:8L%F`-WJP0ZT"A+&8`]$(3MZ9I+Z0-&<(03](.XRP$._JA"
MM,@!T4@4]="`QID-$;"$)^.3([@+,H@:'70$.Q`!]SD!0@@$2=""6IN#2$@$
M+?`"'+P$1@B%4*B$4.@!:S+&0+``5;$$=]N#(P@6"*D#0/.J_+.,H#@,WSM!
M.9"!M=`(,%25K@$G0MC'1>0#N`F4%.@#1<`)\@F=V<#`>P(G1S@#W_"1N[##
M!2C%0Z@#%)@!"+B!6)2$-G`"'1B$4@S)0+@$:[R$2B"%-I@>8^R#U4`#?JS$
M`NN=^;NQC4A&CY#"V3,#2;"$2I`#L<L`&=@#/_`DL>0D0N!'2Y"$/K!`#`G(
M1-"*&T`"%/B>XI`"#IP-1:"##Q$-IJD!KA0$_D<HA#8(RQ'(@8Q,A#:0P>D+
M!"_@@F.L!$9PRVL,!!EBQI;D`'?,0T<P`T]Z+C.@N'`J+9T!FBR`R4M@`ST9
M@AS(`3]<E0J1@78K3$=`A-S*@:8DA"*(N^=J`)7B`)PY'ED$M:R8%[>*FD(H
MA#W@`HV9O3FH1S=8`B=@A$!H`Z`*A$0H!'W434HH!!GB`D8P@\MXQ#R4A#KX
ME-Z9`JW(OV3421.1KQPX1DOXR4^I`0[0`Q4$$<64@NVLQ$?@LPR1`3I(A"B@
MM"*(@6M3N:+Y'BPI,#[I%$J3OD(@A#(0`=$"(CT@!"_(`1L(T"7(`BXHA'8K
MA$JHA$0X1`O0@"5(_@09L`$;T(/R$P1"T`/;0J6`\;J`P1X3X)`4,($L.$I!
M4`.,J0%+T8)+;(]INH,^(`3P\D.U<R(F$(3$>8H18"G!B`Z5&P`NZ`,U`(ZL
MK`&&P!<PU#ZM4``;:`,[F,\<6($^"`0=N`'W.P1&8%(GI4P.8"(YD`(FX(`Z
M$,-*/"XFN($K1*`3T(`3N`$4<%57S8$E$#WR8X1$,(/MF2"(JP,3<(KQV8,Y
M=;="$`1I$BT%T`-4*@+YFQ:OP"D%.(`E,,)N@8MLB9I`"(0C?)<9,-,V:(,E
MX((;L(,VR((;<(+LNP,]"(2,K%098((4>"-0,0,M)00EY8(R6((5D(,3_K"!
M75J"=\(85^6"+2R_\7.$0,"";-D*%LB"C4"!("!5+552=CU'C5$`-@B.0%H`
M!Q",`R@I[\D"%_2#*'`>&/@4Z8N$U=2#'&@Z+R`$.RBH+&"$/=`")K`!&J3!
M/2B$;+V#)1#5%#@"+M"`'$C72!7))5`!+?B`%1`QD;D!)D`,+F""/0#1/A"$
M;!70-I"!4^*`,E`##KB!*1A/,'3!2MU2#%D2$1C5H`@+A/0;+BB,U9@#.?4#
ME$+-F>,+3;B$3;A&1M`#.S#&+V`Z@GT#+4B"):#$2#B$2%#92"@$*<B",N4"
M&Y`!%>BP0H@$,/&")FB!+>B!+0A)+C`!+N`"_JDE54C5@SNP`\!]@Z'-@=7P
MSZZ+@K&L@S>@E=75`S8H@^PX`A/PI*9)U0&H'@.X`>7+""YH`SK0`RE0VT^)
M.'Q1A51`!55`!51(!578A%!8`C,0@9G=@QX0Q$*@A$O0A+[5A"9]`QU8`AVH
M`]$MA$N8A$*P`S#1`C>HVD"X`Z.[@:G5JANP`"Y05Q<LA$$(!$'``@M0J4?U
MSVD)JS>(U&S-5C-@HQ8]`3-@`KO@`A2P@2PXTMD0@.B@0#4`VRF@@U,"D:B1
MA568!55HX57`WE2P`S8P`T;8A$WH@T*0A$VH7NNUWDU`A4N@!!>LA/,MA?*M
MA#=P@R\(!,>-ST*H_@,=X"2R,@$3T((]&(1"<(1(D(2/S(+/H3J=%1DFP($W
MV-%-94TJH8ZB08-*Z@`N^#\Z\`(;D((#$``.8(,5H`,TD+J+*`@SB)I:H(5:
MD`5:D`554&$53@7LK5Y5((4==N$6;F'J]6%4^.%2F%X?_F%3V(12J.23K(31
M,P,GT%:@T^)$K(1)V,%[XX(ZH(0FK80UP`(OP()"V`1')H5*R()TX0`I:`,]
MT(.AU0HFP&%M58,>T(+4U8(LL`&V"*[LZ">(F);C`3)JEF9J5@!FH8`%2.!I
MMN;9.(#HZ.9I9I9P#F>T`[+H8)9J]AMOKF9TG@URKF9S]N9YGF=T#A)\$\YG
3?=YG?NYG?_YG@`YH@?[G@```.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>b69203a1b6920309.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920309.gif
M1TE&.#EAW`"$`/<```"]]PBU2ABU4B$8(2&$QBF]8S$I*3F,SCG&:T(Y.4+&
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M_____________________RP`````W`"$```(_@!="1Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!CRCQ9IQ7*
M5:I:J5(5*I0A4X="S11(9H'`!60B6C'J8L#0A1\&#*!P=(!1HE('H'#E8(`#
M5TNNBL3I2M6H3YTPJ344ITT;-WX`#5*TRM2JEU82"$Q`IA%$,@EZ&,#S5*$5
MFP/PE/C@ZD,)@7D'XM&;H,Z")2%5N4KU"1.E29]#4S+4IHOITUV^P`ETR)0B
MDJB[^'4%>"\9%%*W+I#Z-:K5@60,\&TT)RN>W5YI&Y!*QF9,IQ1ZN.I!U546
MO0+G4"XAMB/.3I9`_HL/+3Y4:2^Q48,!A,ANR-BSR60=(%^@TP1;*P]HA0*[
M*RL#,.9*!H^5D`%^KE26P58&)!53!E0-%]E_4E%`6%<.)(`91XPH0HIGXY%'
M"7FDH89>%R>B!@<AB-SE$8JGS39A`M?9-AQ?>M4F4!;"Y=<78#<"UA=?C,#4
MGT`.2$>=0*T0]D%UTSG0E'\7,9)%*R"**")HHY4&8WKIM3$((B^B%A]V"0!H
M7X)#UG<D9)49X`*!KA@8Y(*N-,C*2TLTZ-=BC94PFT`N0,E7DHE5B<<+)F1Q
MAY8ACE=B;"=6&AL<K7'TI6R07844;EJY@I2H9/CF7U&T#;"$<4BQ@E2?_LPY
MU])\TNUF5&(]2#5<E*Y,:1$CK!!APK`LL(()E^-%VN6F8)Z6HA>`T*51(XLT
M8JU$SJ&0P4"RNM(M0DX5UM!A&3&"!PO#INO$(<F.V.ZRSIKV+*6GM3&'*3$M
MMRM$H#XF[DF+H)LNL:MDJ:QX<IS7K(E@>C'((?]&7-@B0YBAR,#JLBO:NY-,
M&J^\S:9H6B"O26SR1C5)U(@/-=201QT8FU#LL1MK.:G(]#*[*1PE=X3"<DZ-
M>E3*":&*'%5"#YA;TC,5U]Q`MB*97%@3L=QR#:TX$?.ZR-8,FL<?ZQSV:3QW
MU`.5^XY+65()3&:%0),-E+9,"?@I$*".U4&9_F4;/K2(U5?[L`H.&+.@2"5;
MNOO9'`IOBK.E#)M6]D0`5%ZYBQ1L)?=R7R&%W%===4?8<`;40=A`<N[%.5=2
M];";`[@UV%2H(PDY6W334:!=@MQ%M/+5P`_!BL#I8F&(UZ*!'?+R('<!",02
M67ZY;00AF!B.^=717*("[9D`;P85]97U>(31:X9;.:4M!?Z6M"]?B]2&H881
M`0Y\RV;@4?CAR'_MY;S-&UNS!`$]B$@/`)C3G&T:@:.\M`E43Y,;&7A4AX+8
MY`,':I,+=I,`O@!(*@O`0X8<-)(T#21)K5B20'H@I0%022%#N)\,ZY`&C&7A
M>`>#U\+&!D`8>2$4_CUSR`%==+;JM8E&?$G0$MK&M`2];3`'<<$(E6B`);B@
M@UDXA`$*(D7W]>5NC'',;`Z5J],EI!%ED*$,?:`(8:7K!:L(#Z26!3G'[1!,
M8!B4$*7G(E>`*FAD<%51EI(4I&0E@E49P+8(<@A=#9)44C'``I#2"-^@@`*M
M*PE26I&HJ*WP*[Y:R"+4J$;A$<\$9"!%_QAWQYS9L7E^*&!#[K**/B[D6]ZR
MB!YQ*3$2.L1^I+S:%11!O!<P`G%=\U\`ZRBR'N*,$$$\F30QL@@S!).4IAM8
M*D-3"4X4HA2:.00A!/$','CA<9&[(WK:$,UINI,BUPRF(K0VK!>X`A.@_BC9
MMZQ5K4'`06RN[&$7!$&F=QK4=U>()RE]X`I&R:R=9VR$(O[PL3K>\0MZ/.A!
MY[`0A09S"*Y@01'V))%%(,)+"W/F:0)1T(G`:C#=T6A%*!!3^30'0V")*4$6
MD5"/DK(,K2#I1*P%B+#AK&%=``-$#7*"IC;UA"Z0Z496]<*ND&%WE;F,0H#I
MTY;=0*@6680@=BC0T\R%(4Y]ZMV^0AM#MBXX(,S5`'H@'ZE\H#A2P<,'\6!7
M7@YE`26@$@OY@M7>)<2:7;W?#6QYD4:,]97+C!<<6IJ0M)Y@((THP0!<`!@K
M;%&*=.H/85@8'/O0R4`\"I0KPA4Q*>K(/IUE_EV&^F80BB46>%_MB%AYB%1Y
M+94@EBU(<)98(R#]J#*8Q-%>!I`%VJ2),H?T:[[(,"$_;HM&`V%A*`UR6^#]
M5I=O4&>S2+:0X!*D$55\[G\2<-H$L.]LGC5M@3)0F\R=K`Y`&X"_,C`?"2+*
MC`.I0W=;]L6/*.*<D<V9%][PL(E@,D"$-$I1X.K"V+E5OWS-ZU*4XT)IHHI[
MI/IDKSI<$)X..+<A>2QO30.&.$R!.#_`2+>Z92""O-:"4E4(&1A;XAAVMX(B
M:<074NJ&0,PA?C*(``94(-V*_!'`&\ZQ1T[,8X\\-D4M?G$=C$`"#K1`"Z[(
MPQ7F\%TIFVR4W;U"_DD.C*(B'YD,06B!#/+@"C.,@0<K:"H/*&OF?^$!K`)!
M[&W+O!%!#*(1=3!#$IZPB#Z8H0H[L&Q39T#H\'G*E^-B"FL=8C0'>2Z0!6GB
M19QF$T^F*C>RS:E!&M'3Q**8)(Q8A!["?(4IS$#2DI[(C`K,Z<!`$2*1V=5S
MR5"DZKUM(W7K"][\5=VX996V`EE$$[H+TI-800AYQK6VO^N(;G?[3+8!E6[`
MYQNQ!&<X>$W,YSA,'^>,[MA\^;/<M%*WY'1EKJ^+'1EFI\"#V`YW*JQ1=K:C
M4U<LH@YUN((1AN#C>%ZAR1W1ML2;RM&$>/O;D)E/?5:;H.SMYTT4$M!I_@^4
M/3PU:"#>T[BL]+:7])7O?-:S+OL:$B16"/R#%I(M_0RBB#K(X1"(H`LC6M$A
M121"$690@QG(L/!*:T01MYXXKLUG\8N#.T$"Q]$1G3L0'B%H.,9EH.V(9$2_
MI*T5)4BO!CGHP:R$<(H*,6&2<L<D)T%)NR0>B"+",(6^^[WO5;!"&*P@ASF,
MH0Y!1PDK:"#UJ2ODXHZ0$9K4Q/$@J<\_><'OG.9[)P:!6H)F1R2AIJBA*EZ1
M1EKD(EL3DL1EZ[%0_BTC0?9.A;_7_N^X[[O3-1+UQJ>5Z@BQUK6`<VEQAQ@I
MIB)^JE:5UU:]"FBB%QK3\+K!0M95DI2TY(.E_J.0338B:KARI%]8..(7+L(*
M?K^][7-/A=UW1!%S*'P8PC"&,"A!"4+`__TK_I%L+3*7W,(0F_9.Y((0>Y=[
M4Z!^?:>`0%82JR`)WB8)EH`)EC"!EI`)A3`*HT`('&@(?-81^L)K#M$O?59;
M?)=^[(=[5-"`)-$*D`!Y,!B#AE""!X5^"MAW-:""8V`&5U!L)A&#0'AQLD2#
M3R%OLS<'*IA^.Z@%:^`*1I!T=&82I1"$5)A1-)<5"K0`0TB$H`(E-"5<[893
M5&,02'A[57`%5V`&>=`(/P`"-F`$6^`*:I`"$W`2G7!QCP!Y>0B#C[`($W%C
M1+@0E0$6>2<U5[4W_EI56V/0!&;0!WGP`R$@`2%P`W&(!"+P``(0`)J(!`X(
M@3&XA]X&BI.PA02AB:8H5/+S&X;4&$[!0J$C*N`C4U`$6((U0H55<`+Q`QW0
M``10`92X"%!PB9EHBJ8X`8#V$:I`A4%H"8F@$,08`$(5&4EQ/8#!?#V0`5:P
M/9.1/0?U/:#D`#=&'W+G%3MG$'G0`3<0!:P0C)CXC,^8B0`&$I:@A\K8;9W@
MAPEABIF(B@G0"!"4)A_@&QF0`?S!'$&B4<&!!PU27=J"==G50B\49FDP`NWH
MC@$PC,.HB19PC!RQ"GA8C][&@@>AB</(CY-Q'("1!:NB65IQDD@1)#[X_DYQ
MDA7[U5^V\5\%P0@P8)$7R9.FJ`8AT0J4`)(P"`E66!#/&(VWPAP+<!B;Y0!7
M<4A-V0JM\D[W)B#6<2MF)#3DMUVS]XX6F9$]B0`<F1&C0)0P:`FD2!![P@IE
M&8"!B!$[MA!J\``]"99XJ8D:\)86,8]H>7&$`'%QB1)'61!XD`)Y29(^"0-\
M*1&,H`&K<(>.`(KU:)2#>5"9*)9WJ8_$.(R,J1&,@``!P`")8`B468_,>)F%
MP7\&H08:D)B;&9L!(`*-V1!I()J:6`!9%`EH*9)_<6FA5A/0!C6@ABI-<1P-
M@2HO06I0\QNI-H8(H0:<V9D^J9@/X'X&D0.:_AD`,!!'(&D)V$D0NV:%U540
MNY(7@F&$#%&>+)%LL[%L+/=L"J$($^".FBF6]PD#$X$'=JF8Q*@!BL`)]7@(
M@ND*!W"@!^H<.L(7Z^96"S(`#0(K[:8<8'=ATE%N<"4<&:9NR[$`W\-](F$[
M`@%PND-P#"&=_DF=TVF1!0`#E=8(:6`!*[J9$Y`(A'":%P>>#H&@!^HB"YH7
MV<,7-:(^`^EY&2<@#O197W%Y[35R"+(`+D!^)/$^9!`_>C$_P]F:KVF?/IF1
M^#D!.4!GBE!LBN`7P8B;7/J,!9`&I.")D`<)4=@0/'H`+C(CUW%$V<@7;I=$
M9'=N6Y&2>N%`.=)!_L<%=H3*)NP)$ON"0BH4)5YY$(J`D6$YJ3.JB0QPJ0K`
M``7`D]NIF46@"$,)>9RP>W/:1^%R'VR3DGFAD`-A<@ZRJG+268/:"$Q:(.PE
M*';2)@)70@6V&*P@1C<I>PF!!SLYHUY*J=6)K%UJBB*@")G0;7DH"?BXHSS:
M1\8W*I[CE`Y@213V-%D@8:KB.6W%BBZ4H0M0!ZP22$VIG"/1*IWDG+SRJ`?!
M"/6IHLIJK)2*GRDJFS7:"7GX"'A090G1"JM`L`XA7;@$5C-&$`W9$`5J$J+7
M$(H@FMLIFQ8KFY)ZKQB;FWA@")#0">'Y$B%8F!%3F^:8!?H*FQ>[LA5K_K';
MZ02L(+"JJ5%JL)/WF:;VNK&)F;(6R0`A.[,1<YB5VJDXNZ\Z.[2FB`"($)-`
M6QA$XQ!""YLW6[1':[1BJ;1,>Q%1UD3GV@I92BHDA4E;A&D"L00R^Q)?B#I2
M@1EBB(L*$;53F[,7&[=6^XP*<`A\T!$+*H)P@A"[LCL+))X1*1-491!2=`B(
M^+4+<9@M6[=RB[1R*P`*L+06@7N29QL-6E</&J'0YQQ55"=Y]8I2L;G[AFHN
M08L&<4GQ:5C[B02;RK/+BJ^0RYD60+F5^W=7]UQ!.D%Z0:2N.A!]XB/_P4EX
M4!M$.G,OX5I4`D&M@*46@0>*P`"SZ[*16[T"_I`"/UL0"]AWEXMU09(F0K*G
MJ1J3I4,D$+1$=645(I1$+;&0$5D"=P>1%=$A(@"[57NO*<L`9!"G%V&Y`W&J
M;,(F-`*KK6JDU3,9AXB2@*$&6T007<02<Y!?[4,HAD(&.%D1>*`&TDNU1#N]
M/2D`S9J]J^8*PS<0UVI]4^D5W-JYKH!75*%9<M5N*IP;VP<3'X8'S'=R\5J(
M%*$(B@`$F^JX'IRF&F`Z,?&P4@9Q!<@1>:`(*8"F0AS%&#D!9`"437O%#='$
M15"?=%NUPU@`(H`(5HS%9,P0YN+$#"``'5RI`8``&I`%B!"/93S';YL'K``$
M(C`!%)N7!<``&X`#_D$GQRCQ00,8:A"3I4N!G`0A:HO\>1*!G(&DR#28!WA0
M!ZR@"$A0!$"@R3E0!*"6!NKI$H!8-/T8/H,+/ZQ';!1!4GQALF;&"HW@RB,1
M!$'P`[1,4J_%7U:!*D7AH$Y16LXU85EQ-J7R%?KF&Q.*&WJA;Z#B.M:WMH`%
MS1G&&-\SN'3\$;5,RS&6<1UV>;61%WRQ1'G2`P%Y%WF1I#!W(&NB+?N1)PX"
M.^O,7Q+$"'PQMOTHI`G@&*NED()\S=BLS4$`'-A1&[)J'81:&P;RN08-J,[U
M/3^2%<(1N$M!`>D;T=2C7L%&71UT2"Y@`%CISR&1S;=,%-A!JW[4-LM,_JCB
MC*X-O%X%#<X&L"T1_+\"H<,V$2<TC211U2!Z42-I<AWV53V^"=(<0<O9/!"$
MC`?)=V^3-(V=@Y43)JZ]7"IZ84G(_#3)1:XHT,PQC"H;IEDH@!3ZDF%N2]0:
MP9'?,LKFV3<VL4L*@<0'`==F'1/L>A`)L'ISG==ZO==\C1)/V]>-47U[$M-'
M0;95"1%EK1+HVAQ=2!!\]31M"]C5PR:-P'RVP;1STQ`H\-$OX9YR8T;NB55\
M(]EW(R@IDP$?8`#2H9[?TQ^K<V]TE5=VQ6\<)Q-"XH.E(]!OXVRL*]ES][]+
M`"&N(%1QTW'[;#ZNM47Z/!7MHX4R(7;+A=>4_JUSBIO7O]TK6Y0K!I%VZ"MV
M&U2NT+6V4]2U=%-@P?&T:8-WUCS7^BPU6&BXI-<G5H0CC1#4HU?;Y2W491=[
M(,;7@#$;K!76!(&NFX6MUR?5^K)]L#<32+$*5TF\A4U27<G#?)T!(!H2C#Q-
M9"#"I%T1K-GA(![B(MZT?^W?XN?<"U'=!M78P+L<CQ'9I%T;192<I4R$;8,Z
MW!>?HSW7&$-2$Z)N1>$5^K9:5C&Z@9C;KL"J<&.B>=WC)&TC0,IQVM+>:BU5
MW@@<D<2VY*CB9.SD7)<G>G.GA.RA7Y2H4I:0V:&D#RFO=.SED;%!`FP%=]#2
MJ'T752Y5#-2`3K'@_FQRP2#MY75EX*-B29.1',G19P^>*)JET!.^WF7LEL--
M$')]S1L^XI9^Z9B>Z9J^Z7I=XGS-DL,1!JU0UQGAR`0A5U%%%%H84T(S!YYC
M&;31"JX.$=^35\W)5C!NUB*27=@!Y^'LZ!.1V5S1`U*Z7G;-:Z_%OA(!S$21
M)W@@VHFHZ^,Q$/9M`"S)?'.%5Q^P5^[=`_S6V@3N&%)!VX12-ZD>S`L@5^,S
MNH/$H-=^KGW5V@J!V@1Q%T[!VXE-QB(R1@6F=:G%0LN=6L!Q/C-7W,N-=<C[
MOP&"!YJ3%]<!9"B=/H#ZW_B\W,6M$/U]/E(S6WJ]ZR.J0%L$OH-:Z^+HN,`<
MM+YDP-TD+R1S,$)^02"X`;\DO:H4L!QC)ZNU(?(KS]T)@0+2'<!K3N%TO.\K
MU.MK(\YY$=2OA5_S?=]29-\FI/%<$57\Q7UWZEZ,\9(2WT!'[U[]]L!VW6\#
M\@%@1489[\]6:"K*IA42)M;EVAV1M``/-CN<I2^@"S3<!ROLA1T1]D=!'B!A
M$=6@&]9PU3;CGA"LE1CIQGV-SNDN\;#.0;)R.>F.7_F6?_F8G_F:O_F<[PH!
$`0``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>b69203a1b6920310.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920310.gif
M1TE&.#EA$0++`/<``"$8(3$I*4(Y.4I*2EI:6FMK:WM[>XR,C)R4E)S6G*6E
MI:6MK:6]E*7.E*V<G*VEI:VMA*VUC+64E+6<>[6E>[6UM;U[A+V$:[V,<\9S
M<\9[8\;&QLY:8\YC8\YK6LYK:\YS8]9*4M922M926M9:4M;6UMY"0MY"2MY*
M2N<Y.>="2N=24N=:8^?GY^]K:^]S>^^$A.^,E/><G/>MK?>UM??&QO?.SO?W
M]__>WO_GY__W]_______________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M_____________________RP`````$0++```(_@!W"!Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!CRIQ)LZ;-
MFSASZMS)LZ?/GT"#"AU*M*C1HTB3*EW*M*G3IU"C2IU*M:K5JUBS:MW*M:O7
MKV##<FP!H*R"'0,`#!#+MJW;I`+*`KA1H6P%E"T$#$1P8,<!!&\#"QZLLT6`
M'0`$)CZ9=V"!#3LV%"!,N;)EE08.--XAX`;CL@7RMMA10N_ETZA39YR[64`+
MSR9''RA``+)D@@L4Y-ZMNS?OW[Z#`Q\NO#CQX\:3(U^NO#GSY\ZC0Y\NO3KU
MZ]:S8]^NO3OW[]Z]_AM40&`'68&N558HP-<O8-7PX\M'*.`L8L4H-Y1-GW;M
M_/\`JK;8#G4!<%>`"":HX((,-NC@@Q!&*.&$%%9HX8489JCAAAQVZ.&'((8H
MXH@DEFCBB2BFJ%!<9OF7D`(!E(76:`(-<`-L")$%@&D+#4!C"2Y6-$!Y`A6P
M5@$`'+8#C&6U$.0&,0)@WT`^4DFC0FD!T%=/`TPVXPX(+#8@`0>J"&$":*:I
MYIH%-;890AOPR-F5#97V4'KFR4E17`/M>`./<0[T9@D!T$D0GG/B2-]H`Y2I
M4URCN79#``%`1B9^9D:89@-J<KII`FWJI2,`&^BXY0X%3,E9C.7YF&5Y_@2H
M):AI3IHWP*ND1?FC:W)!5E:0]QD6%X\"#`!8!0+H%4`)14YIIT`&J#KJGRU`
MV:2IHT*&WFCKZ5A@>0?(U8("9F4K40HFI("NNNFNNZY!`AA0GFN$S@;F9`IX
MF>F#:WKZ*9H%V6E89`3\==^VAYXUEVOU<78#LW,)I"/#>3;<6;0[%.J9:(=5
M4/![!0FPP0$&!*"H``CH9:Q>A)Z%Z)OI&0"``08`AH`!KF%<J,$`#.SQ0)+F
M1>@.L'6V6*%B^DQD20S'V0+-)8BYPZ7[\IN`OVAB#3!!;HJ:K+C-'AJI:.FY
M1F[/&]/*<K)CETTCV14;*M#-KE40P*D,$_JF_LFISNK8@7FE%[AH<[+8L]=`
M<QN:J`7$V-KCB)OD6IR\;C#I60'45?69G?:;9JBD>=TW08$F3JT`I;V&>F=5
MABZQ7@JP/:?.K^4I<+RG<ITDT#?.&:9FQ%;+X[.1F59:S6#B_#3F+8S>&/&2
M#E"J7@7TY>/1YR'6]4F2QAJF7'J%J>_F#^HPD/GG'P2DK;8:MB-!9R=6I:M.
M,CIJ"^;7*E"L:LW?`J%-$@B0:E6_N!#@!@/*F`$0**L:O:9G0&*@E^*G/X&<
M[6[3&D`)W`?!&+EF+17,$F!J1<'O]>QL"JC5^DQ2);($8$IBTA;Y-(*#&J!O
MAH1)(`ZMLH(3[%`P_E%2U0^G0@-TV<`I9,%??X;(Q,&L``8KD`%'9):8`CG*
M)+%J07L,UL0NBH4&)L@!#%RP$06X2&KY(8!K'A.9\7GQC5MYX@YJD(*-C.Y/
MZ%$420XGM#S!\8]:*6(.;I2"&NAQ3Z!YW"%!H@`#S*DV;80?>"89'DI:LI*8
MO*0F,\G)37JRDZ#\Y"=#T($%Y"8$'_A.00C@LNPABB14+,L600;(6DI%!X4<
M2`Q8H!&#&0U3*9E?`VU)3*B`\88V"&-&W.=(*Q;SF0T:8T%20`-H6M-,*YB!
MHEX`@VMZTT0X2`$."C*#%7SSG"*:00@,8H,4+!*=\+00-P]B@AK$\YX9_J+F
M07*)SWY.B(Z+=($4_4G0!^T2(2Z(04$7RB`6*/0@,B`C0R<*H':.$Z*\I*A&
MX:.#%4CT(,E\YT9'&A@9G"`'"6FG2$G*TK"$4YL*2<$16TI3M[#@HPFIYPUK
MRM.NT."D#!%H3X?:E1>\H"$)):I2LV*":C(DHBM=JE23`M"&R""C1XD2LY8X
M5:G"`*L+:>=%LJ079ZJ'`+/LZE*S&56!A'2G$4$4&E.2+S;>1JU##2=*'2)3
MB^"I-6WER-D(1SR\UC0&YGR(/BL2*P%40)$I00!M;#,^48;RLI;-+&8WJ]G.
M<O:SG@UM;T*0`>N,H+34*<C&3+:85YID/6DU_FQ-<]#7A[B@FQA!&C!+$K4D
M,6J8LFWI#'P(D8A:A']],6MPEPL2.19W!,R-+D_:N=>'B/4F_"M+[Z2+5Q<<
M-2+)K.Y,*LA=V;9SIA&I;4V65=[@N@"G$#G!#&R"P"C-);#MW6@RT1N1V]I$
MB_DU['OQ:Y"KTI>]`9XJ;>U)$3K2-TERV6Z">8I8B^2@GA/.<$FB>!'YUH2!
M$2:PAO%)1[GU%[<XB=B(6VI4C!@8)Y,R\8H9>F$;7L3!`JG!=UT"XAB)>,;H
M-&E&;E!;%BR6)062BY*`O-$5/!0C;`UG"'`:@XN>Y`9N9+)&Z2A>B\SSJ\ED
M\`Q2T&6*C$HN]]6R_E)?`%^+7)7(U?3N#G)P@H$FQ$@$L@M#6A`K&1ID`P0P
MV0'@6I"T$(FK:K;EA9V:D60*>8YD=L$*5AHUO<SU(,W+G$(FE;J>*60T)HMM
MH@%9X8T0.05V#@$+,(REE.'180@I&2US=!C7F(PAB;%KED?=11/862,K4*9`
MBOADA'@,;HDRR)_0K-U%QB]WQI[7:`HKVFJ#]MK6SC:VMZWM;E_6`B9X0"@7
MP($/^&8!I15.00K5:809)"^S1L@-XKVBT4#RKKQ^(PM0[!(.!B!,NRV(M5CY
M:00S)#.>$76^FWA>FM1*N0=!'0)BM6NB0;C9\NX56H"[\"$.M\U`J5O)_F[=
M<8KFP`6^_C%-`"B``S#K0VHJN4QP8`(6X$#E,T&@`;2EQ7<"6M"$5E#,9?X2
M')R`!3K`^7\1D):*<YI7,D90UD!%]);0'.E).8```K#S@L^)Y`X:>M5)D@/Q
MWN#H.@AZ4.HK1(0\6U.>&GM)6'""&\*@[DR13)(0(&&"(+``5PS[Y^0NDG:>
MX+OMM+%3-B"SOL,O5@=4>X`V17B1L#F9,^CHCK="'K4H_3)7VUKE/;+H'<3`
M!'<OLU7^'O@&B;TH@Q\J%`>R:IBV-_14-TKL>8I+1N.@V$LQX;\7Q6S'?V7W
M%J$\4,0>>J*:]/,^:?F57(UI1^X/^D])D^0A_C+UH#!?]#7]Z:^_DN2R+!DG
MKQ])W#.2?IXH?P?(9VD,4L!OJ0"I^(?$\D^Z;Y+X4P3WWA=[68-/+Y`NWC4#
MJB<0.4!WC$85I.(081(C8'<3[1<2S<=^_J<3`"@0&6A-=$0#-1`#=U=S,J`H
M8I0"-H=]/_$F"S$II[,0250C'#<2_%<2'1@1&[A_`L@I\70#*_`"BO)[Z0(#
M,A!1)[`"#4@49S,9$%<0#[AGB1$M!!!UJS(:"I<0-]@0%0@2%X@16V@3G9-[
M6?@5,\!?36%2JG<#-,`"-Q4#MJ<4OW0PZI-=&&<0Y5%I,)@>NJ:%:+)]#%&#
M)#&&#I&#.S%U.YA[_F]11"8`?$I!6V^(%85B&IV!$(NQ;!4G$9*2'H6%A5=S
M$5_H$5WHB8(8$V$X$*.H%>$D`S-0<U:V$9\8$BX`5E=A0)`%.E,#&)VA*""&
M9L8G-E-#67R(B!-!B#0(?LFW?NZ'>Z(7BFSA@R[@&0N86!SQBA\Q9C>W%8:!
M0.YF$"=D&H62$9*B<,F1)IBT*=5&CI:T*=R629[3&^BXCMZ&'1Q@`K[A`"E@
M`9Z$>_"H``Y@`JBUC]U&?`%'.@)P0`(!;:03:#<P:#U"(XBV$,PH$=3HBCS(
M?LA8B%ICBL:(%3E0`T7(:#KP`N)4$+/G9ILWD1S!AER!7'EF(!CQ=#'X_A&G
MB!#$*!(SJ1`H"1.ER(&=N!6T90+O!92#1'?72!`7-E\3@0-T=V1I`@%&!@-F
M^!$R,)(R>9,YX1^Q8WV85FO9R(4;B8,#V']?.8P1B7[**(9CR9/"J!2Q2#0[
M8`-TMP(K4)0D*8UT>1`Z,`-LAG(N($;2B"884',T@'(KH'@=<0,RL(@6:)4W
M85]H]B)R@9`4N99@F9:@:)G<QY@K<99B6)$TB9E#T7`$(0-`F!!'20,K0'\)
M<0.K1H2J"(VLE@`>8`(:,!`GV)<=\5-U9I-AB10`4`('X!_?N!`*T(M>")H0
M699>29G#>)$:^"\:R9P<Z)F;J9D(!7(,`0-#_E@#)U!_`L&:*G!1BO)>`G$!
M)C`!P@B7)O`"")@#-#!&[_4"4;D0B1D#?NB%SED4<6*0?G$02*(E,K,TH$B=
M9(F<&J&<$FF=*6&(GB.=\&>@7DF@%K%?$X&8@P1I_*:&-9>`^T5'Z$F9-%"`
MZ7)X12@#'Y`"+G!$.6`#=UD0%S9^R^F@/_%R7*-'KP8`H7&?%7&#/)J?BRFC
M#U&3_P>A"<J@G8*31'J92:H0/T@1<`5&-R4#=Z<",+!2-W4"&H"@.X`#Z`4;
M-H!R['("K5B78MF3!*&@*F$D]N$Q`OHZVZ*"2.J@/-J;@;BDGVFFH@BD.XHU
M6B.G>*H2[Q>G")$#_N5$9AMA`U+Z7C305E":DP7!I4?$`I,V$#=G/HE7$(ZJ
MA?F)IBKQ-)12`#3*-5%B7\8IB@T@J%CHH\MYH*I:I`>!IF%XEC@IH96IIP:1
M@_ZW>ZFY+B%097"J6A"A3?[RDBO`2R>7`BMP1.2)J0)HIV<:?UIJ&3WJH!-P
M`>AY$G2:?)PZG92Y)K9ZJWUJB*BZHXSY?=WJF6!4`S:PKC2A`YF*$#2'<BR@
M8RAJ`E'Y?K"ZJ<[*%MG*K)09DNB"`N>)/MM*D[1:H*>*@>>*DLW*H%B#I`E+
MKG\ZB+V9JZ+G7!08K0\QF+97`R'@G0^ZC/NJEA$;G7GZK4TQK<K&AC7`_@"R
MV51J.:Z5>:`%2Z?>VJK^:HI\VB\R6Z#2V7ZX^I47*$@Y\:[X*;(EZ[.'>+(X
M$2Z2R:I^*HPZP(9)ER:S64W:QXDH>Z8'&Z0,2K.(:*0&VH6Q*JY:&Z<_VZJ`
MJ)8[F;,[@+$9.[%UNHQ=2['*:++'.+(=40(\IQ>Y6)5R2IVL.6GFHR:SI[(%
M:JI&^ZK46;9VJ[,W6X'0R8E=^X5`RYE"ZRD38*A%6[#C&K1;>ZL\R[;EVJ\M
M<0-J!!G#HJ1:&GM3:P)6-G5Z-:>ARZU#*K9@R[6>\ZRO1[;_,KK^2KM`J[81
M&:NTJB98NK@TB+.Y2[)XNZ=L0K+ERKR=JD:M_J>PN[>T6UIS.Z4F9S<#K2NT
MEJF91DJ]%%NRCJN1P_J\9^DO/CJYG_FP_IJTO+N6F"N^#:`!)N"RQ>NM@%JQ
M>LNX:"FRM<N[ZPM_&5FD!0P2WS,;CG69!QRRT9D`$'`"(J!'PVI4M#O!B*O`
M_FN18<N9Z'ND[/N[T1N\<LO!$NJM]JNO#MNM";"Y'PJMLKJ@R%BS'XS`=+O`
MI.N9NQNS6BND+.&"V5@"@-<1G5._G\(`)D`"#""Z`/-366NP`QS!4/Q_[ANH
MVAK";1NR%WF(#9JYG_B[HBN_(:O%#YK%0EO!6?HI4+RV9SR3EJN]QWF_`,S#
M:?Q]9IS#SVK&,)&-_EU9E>%ZOR0@`BY;QJ!"6Q$POCL\QG4;IVH<C!!KP"<<
MQV'KPR8LI/#[JCELPIA\M]++PI3)`")``BP,KI7,DWO,R)5[QU!;MDA[LB),
MPEXLOK0<$P@0(POPHV)KI!>0`HMLOX.W`A<POI\,Q[R+Q:(LR6<+N4D<G5_<
MR+TLP--:@Z(LS03\NWTZ$"!@R&0\OS1LMA)<PFD)NF#;OLSWR'\HMCL[P+F:
MP$GQD)RL-7W**1"0`AA`PQ4)`Z8<M>KKR#`<M>W+S%1<OX,\R-;LR1:+QDHL
MS0@-RCH<QF9[`^>)NY@*S\Y,Q^,<T>'<F07<K`=-P++<RV!LR]L,$>'B_I)-
MB!)7B,+MG"9,W`&7NS5TQ,HJ[,]73+E=W,QWVL<2K=`E_<)Z/*>KK(POG=`D
M+;^)R;_/K,0K#+_9>\SZ^LFW.\&>@M#F>\K<RLZTO,DW?9/X@RP'HT,HL8?!
M&ZYJG``A(`(/?99,/,/73,_7S,)8/=<D;=>9+,KU#,MR#<MWG<EMK<V1.]AY
M7;Z%S<3%_->%_=-^3=AQ[=AX#=EHO=AXW=9]?;^6#=E:?1#(\FJ3N!*:*">Y
MH2:]4=J\4=KS*`&YH0"L?9;NZ"FHI``*'1RTW=HO_=J=XH[HG`"ES=JE[=JZ
MS=NV':NZS2F]?=JLO=K)O=R^X2G+K=R^'=T+_C!UO2W;M[W:JQUZM6W:S^W;
MVJW<IPW=LIT`YBENR#W<[QC=KHW=PUW<PKT`SBW>ZZT;\6W=96O<Q;T;_E+=
MU2W>]CW;T#W=^(W<X>W=Q@W=G"G=S)W=#*H;$3<];[H2]Y9ER"P0..`"W5D#
M8)2$9WS,!T78P4C/5IW--7RG7RS5)ZR\S$J_:`O%(I[3.E`#1!A8_C=_(PH#
MBSH0*@"CE!S0[YO-S]OCR1S*WPS$7HRP8<S)6QO.5DS%6V@OKD2%(M'2%:@#
M\R=0JY8"C!BR<+4IX60#>1V,1LK!V,S09#[D>=S49NZJ7CNQ(`[%-B"2*'H"
M)\#A.3V:)C`#ZAJB_NFR;S#@3H*J=GS,OC<LMY_3Y20>KKH[P4JKC))WDQVM
ML7%,JU#2)P.)$O*LRH@X`Y*6`G4.&RN:$$$7<RX0`DS]M7_8U__<L)&LM=$<
ML6]^QLV;$#40NZI:N+=LBA@@`D"YJ#=@Y<AJYT&^`T64XP-Q`Q[Y`BS`XVA.
MS6+,Z+9[YXM.Y"6^T4+<$.[:U*ZXD9R9F5\)/BUYO3H9>W?GAC:`?91W`RJ@
M`9QR0X(8YFQ;Z":,MGB*?-F>XN;+ARP^$'_NZ3"0`V-\-8MT`ZMH`B`0E6)D
M`DBX2'%7`WNNF@:AHT;>LT9NSM(>Q(/=Q]!>$00;P'BIY$T^JQ[_$OPW_F:&
M=,XYE@+7.NQ.#M7-U[WL+&_NZL?0FL4;[XE=N^$X,`.2RM2HFI?O]5YTK@&'
M/*C]+E#BA29.N2ZHA^[(^>.PKM$L[^SM/O&(/.N!B-'KG,++]SE%](@X+WH@
M8`(1,.W).>]L^\:H3I)B&N3]B^\CGX'A%`.PX8,B,*TW\.?=6:+:9+I^%X(A
MH`(,M@,ZD)@LD(!5/8V^N[!B+O7!NQ$2?\Z2?O-$(;O=^:O.*Q`,0`(HJ$WW
MKN\_?.3@W(?RYNEM__DLCWN>@I@W$/(7RGVT2M'P17,@0/J?"0$JL/!N.?5X
M.7\P(.,GX&L0C,0@K>2:ZL96__&57^VI/O(N_M&41\>Z&AD!=T=&:9(#/VCL
M!D'/>C33%4[L9$:4.\``$!#""0NI.."M#&!D+M!^4^GI+H"46V\0J\@"AS0!
MM`D!.(D!*5":D0\0.P0.)%C#1`H6,W`09-C0X<,="21"I$A18H(&%05>U!A1
M8H,;##]V)%G2Y$F'%S\F,*D2Y4N8)24R",%"1TR(&"=NG&@C18Z+,5:\.!@C
MY<4&.PGJ9"F2J=*&+U[LN,$BQ<$4(6@,O$CC:@JP(6+@T)&``8D3,U)@X#A0
MAPL3,VS0B&$"1L>+-P7:L!HC9,,$&$28.`'C+\$<)$Q<P`GQ<..';2%S3=JT
MHF2+E0%#G=S9\TK,_AJ9>B9]TBP)$8\_2]8I<`6,F6EOZ)AAPH7JIYP]ZLZ=
MT>&-%%NIUK!A(P>,%"NV2L00=^$-'$)3%&9Q8F&,$SGT[CVQP@9!KW<O3Z2]
M(H6+A9$E0IAQPB9!&2=$0/!=VKY3R_=%Z];?WS]7E9+Z;T"<XDO/OM%X:HH&
M$QA(X((3ML/!O0-W2W"IUO#;[B&O5!OH.-L@F"`X#W.8X07T0KIA!1<(4LNP
MAF@XX84<+#(K/KMP\!`B'%9@(8<;9C!/AM`(A*Q((]U*<DG];D*222B-=&DC
M`04ZX8($4#"*H*I,.#"W_*CDC3^&I*HH!Q?`FL`D',Z3P0;D9MAQ!QQ"_D@!
MAAH9*@Z""PB3\Z4NI\/SAB>CE*E*0Q-5]$@R%W5TLI4`M$P&$T;,DR`=B*I!
MP4CQ"S,B1!\"3KB*(HC@TXIJ@($%PKZKB(853)#A+X/`(NR".4G2008:#BOT
M4?50!7988D$5MEAD89(LAZL\@`BYY7+;+%0%'S)N!QESQ3"!#?6K[009TH3Q
M5YBZ33;8<]-UE%QUVTTI5!!2B(`B&$R@0:61/`6,6H%DN&J%UTABM[,;XF/!
MU=W<33)#A1MV^.%%,6.`K8I@..'4IP!C``((;-!ANR)S`!>'$Q$>[U@"!X8X
M)I57=OEEF&7":%N-6'5P2H(P`,M6%V:HL4@7_E:@RK1&4^8WYL9:1GIIIE_&
MC-T;1"#A9J@R30'+!&Y0]83@'JHA!9-E1GE`I9O.Z6BSTU;[X7RKU2@"$U+K
M5H<53H``LWIG:.@&$[9$J>S2&%[[[Z('-_SP1Y]&NZ$)WR/(XK($WR'O@NHV
M5^#%4RX<\7W'YOQST,F>6=*2<##!\1U\BE:W>EV(809Q+R7<<__:#MU&VF_7
MO=@;`&@AI`$`&`!8Q7,7R'3'66AQM_K`"_<$%\)V&?##J=_]\P.&WZ$"``"H
M@$D!`FAA!P0.V.$`!!*'JNP<JB,Y!1TM%#5MZZ^W_W[N!1`(@/V9;$&`WQ5@
M`SO80`$2%RK`=>D$_GY#"NCJ=S\(ZJX"^KN!_G8@`&W=!X`7'%\)+"B0!2@@
MA",480E)>$(3IA"%*Q3A14RH$Q7&<(4=.,$+*R-#'+)0ASGDX0Y]B$,8_E"(
M/23B$(U81"0>48E)9.(2G=A$*#[1B0WYWPZJR,$,0@8!W0L)`&]`@`$6\%P/
MW);Q8D;&"*81<55L`?\X"+[QE>]\Z?M<`]5X1SQ>SX/]VX$;ES2`W^T@>-JK
MHV;R>$A$'JX%VN.>]Q+9'YP]4I*3I&0E+7E)3&92DYOD9"<]^4E0AE*4HR1E
M*4UY2E2F4I6K9&4K7?E*6,92EK.D92UM>4M<YE*7N^1E+WWY2V`&4YC#_B1F
M,8UY3&0F4YG+C-D"DJ2`)#F30-`TDC2G6<UG1M-(U"20-0?$39(T\GN)"AX!
M!#)(DWCS/^KT#SC]P\[^N/.=V]0F/;N936R:Q(U^C-+X`G`#.:*O)/#4CSS[
M0U#[&%0_"$UH/J_IT/\H]#X,+8U$?V-!#"Z*?P(DH`%)8M'24)0T(/6,2#U#
MTI+:\YXJ72<^5TJ2*WHQ414PYP;W.!`?2C&*.U7B`G3Z4Y[V$*A##>H*B7K4
MHHK0ITE%ZE";6E2"M%$@&US2%@%P@PJ.#XP=9697=[E/11G`?.0SGT"]>E9;
MBC-1O>O>`-&)5KC&5:YSI6M=[7I7O.95KR[[_A\`]">`[ETUBR?IJ_XV$`#A
MW:>P5@3L!R%3SG,F5I")56MGWMJ[0-H'G0?HGD<UFU@%=%8_;]U!`0A9&G0&
MSZ^CE:P!NG<?M0*6BX,UB5H/*]FU&0":!QAK"P)P']V>[P`$^%Y&2Q-<WB+W
M`)=#B3\!6E8$!'2+?-0B="\HOOM(-Y""+8UT!V)<TGBW!*NUCW2IFEWH*N"T
MI0&K0'Q['[`2]X*TA=@&*^!1L6IP?/>M`#37VQG[%B#`I-EH&`O`T0T0`*/T
MI0B"#?B_S)+&P0/AIV<F+!#LEF;"`T"`8RULX//:Q\$%0"F@%BR0_)8FIC?H
M[P[,.;@#&*"T%O3=_GUB/.,=!,``GB7-C07L8P_CA*9O]*!-R2O3QM@4H^.S
MCY)1S&//.!FP+RZ-DFEZQ2IW4``$\.LXL[R#(HNV-#>5:8U5O.02!("CABN`
M7PVH`"J+V,W#33`=->SFTN(9P%HU\%83[,80Q\3/'D4R:0:]`P4$N3.'MN(_
M&=R108OOIJ49=$A\RV1#]QF:X"48H,<'Y_OT;JJ^58`"?HLX^0J@Q(*FZ?>&
MK!_Y"B36D$FQ=*7;WNK.<=3HG6.:,=U=Z^X:V'-$;/?L[!GO4N6?Y86N0`,]
MF?:J6C_[K.!4']TPJXZUPN'MGOG2#(``E*"\W28?N2?3QK9.5GOHK.QD1D@+
MR&MW!)V!!<``/SL\+@-@K/<>R")9BV]S\]NW`)"Q?2J[;<^HU;4`@/)>'?YP
9B$=<XA.G>,4M?G&,9USC&^=XQQT5$```.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>b69203a1b6920311.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920311.gif
M1TE&.#EA=P'"`/<``"$8(3$I*4(Y.4I*2EI:6FMK:WM[>XR,C)R4E*6EI:6M
MK:V<G*VEI;6,E+64E+6UM;U[A+V$C,9S<\9[>\;&QLY:8\YC8\YK:]9*4M92
M6M;6UMY"0MY"2N<Y.>="2N=24N=:8^?GY^]K:^]S>^^$A.^,E/><G/>MK?>U
MM??&QO?.SO?W]__>WO_GY__W]___________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M_____________________RP`````=P'"```(_@!?"!Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!CRIQ)LZ;-
MFSASZMS)LZ?/GT"#"AU*M*C1HT@'&@``X,4#I@^22IU*E6B"`0.;OM!:M:O7
MKS(+)!"X0H!``2L4)E"PMBW;MV[CPITKMR[=NW;SXMVKMR_?OWX#`QXLN##A
MPX83(UZLN/';A`*8%@AA]H6`$&G!:M[,.22!L9>U7NY,NK3IB0<06%ZAE>OI
MU[!COP@1`(`!IU!EZ][-N[?OW\"#"Q].O+AO%B",LZ3`E,*+`1H(:I#\<,`*
M%PVUAK".U6)TY295_G0`KY+`@P<$*'0?2/E%@,P;T0ML?U%#9?(CQ>-':1X]
M@._LF14:`*P!<$`(3`%0``!8#;!=",]M)UES+XA56P"7#?`4``DDT)R''&XW
MFX,),F?;?B*AL`%V*$K4P08=O!@CC#*^R.(+)AY`@$&4(4C;"ZEM]2,%9CEX
MV65E4?8`!0'@N*-MJB%P9`&J;9650`"TUV.3Z-'7XD<F;/#E24<"$)5`TP7P
M0'N1,:6E@#V.=F0(]LTF0`(%C!9G"`0<.5]E?MKWII=C<F1"!RH4.A(%!"#(
M:(!HFB76GR_4>:0&YKG7XYOF&1"E`!ITY]^50IJ50*!^*FKH!HFJ"I*<_F:R
MUYV(M`&0X8@1.FABEM#1.D!3M0;@X``+`D`!B,<R-18!3`V+*P`[NII1F"E(
M^Q&`UO)V:*O9=NOM"V%R^^VXJE)+[KF*DH`HNNRV*,(&*+0K+WDB=&#"O/@6
M]VX)^?8;W+OW^BLP;_6:`-_`")\&<,(,*[P!OPU'S-D''4`L\<5>;0"""!AW
M7%4'(HAPL,<D$[5!R"6G7!3(%Q17`%8;GJER<2=S/-QT9K4VLW$@VRS<`%*6
M==;()97`PLX\U4PT;UVFBF1"C!'6@02.51VUU5A?K7767$?-0`<5<+#UV%UC
MG5``=(9V%H0IV8NT3N*IL&)P*]0&0``(Z*S2_L-OYR2W?L2)&/-*(/>-4]QB
MSGRRX3?)G<)X,W>0'.,U(;ZSC933]#?D*L.8N>:(=K#T0BZ(BVX++U[W>4R/
MK\"J1";XS*YXZZX.4^POU`[1"+*C*[?NMK<4N^NF-_3NZ-Z*MT$*-P:_D@DM
M`^\0")S/#K+%SC_/\?(2>2ZOW"($G+WVN1?/T(OF?RN>"-B/CQ+T+[P.$>KR
MS[[!\.ZKA#L(XCOT>_K)LU?+"M*"_(VD!!P+7T3$PX%XM>L$'S#!Y`@B@A,8
M\",L6($"%0B1$V"`@^R*G=R:]X((7M`C'3A!^#38OX;$;H7M$F'U!/(PY)UP
M(@]3X`5:R!`$7J!]_N2"GGA&5K@;;J0#(]CA"T#HD/#A+H;;.T'S%F=$C=3L
M7C!\B!,'&$*.J4M<(+-A%1U"OQ6.@`01R<`)GMA%@9"``P/YW1@QHCS^@:MW
MYU/!X^0%OQ>PH`,%?('RYGB1W]UO!7U\"*+D)D9IL9%[@HP1(2VBO'6QL2%_
M;`'@V"4"-`J$`Q84)(P`.,F%K(][EV0((UO`J@]4ZUP@Y*`':[<"YI72(1Y\
M5Z),D`&(J$@@%;L?ND!(@A$()';R.]0M'1*[;46RD0.1(`TI!L1N@?")L<-`
M*,,$S5O&[@20A-=#GO@B#N#1FN)#`1SOR,$1;$!URU2($&O'OH<@4"#U_B+!
M.8]R@-P,+B4@!)P/`U8O4L;SCBR`9`DFR!`.B@`$*7AG52#T@)QA224@9&6B
MPG=&@61`>@<MR!E7P*W6-=%@+TB!"C99E8H*;35J(=M<%)`!JKVE`PV@J00D
MD`&VO`@"99-I4(<JU*(2U2TU50!<OM8`P6!``DI=RP(VD-.C&A4O"Q$`!>ID
M&<R@A(EV="+'5A`C'H9T($P4"`BJ>1#I@10I!RC`"UBSMI2($ZU8-($)*B#*
M+)ZU('X]YCH94K]/.G`J3"*5:TP"/`2NH('Z>5PQ_WJ0M,ZU`X=-".HR2$&S
M&B5!9ODG2@HK35:-L)E<I.Q`[EH0$GQ`E1*E_J`GQP6\/2YR/-!+I6K?RLI0
MSM66!&'I,44VUT!F"Y("^6,($$56%;!OCY1=@7'?ND3QE2!Q!%&G0:0)KM=V
MRZV/2U0'4A"^$5(6!1W@;&$[FQGJ%3`%G-6M>4GP3A(6QP7P/,AZ/^!.@8P`
M`Y`5'67#Q`'L4/>>EQ4G!SZ`'?P%%W+U>B5Y7*L0Z3T4<O03KT'GV,D/D&"(
M",$?>OG'R@T8LZ,%:6X)^1:;-XK@`QPXVD(6=A`5$^2ZG%-7!M=K$1<8MV\1
M]*!P"<+=8A93G>$-+#"K);E]$L257O$`"?2*W(1P``0%/LB0#Q5;1'[R!"4`
MKD5TN[/E60XAY@6E_@?UN<0DFC5\RWTC8;U+%8U^>2%D3<$'JCEDN=&9@N^:
MK47TV4V)99*LRD3S>/ZX4HW=2T4>R.Q`BBFW/W(6(2Z(D:21`MWJFG(\X-3R
MW`B"NG.^JX@#D:Y$1-!+PYET`_0=G:5_2=;:<>"M$D3O8S<=7!/_.2ELK*="
M3@!'LFYZR/%CZ$!*4#$,M):A)\@O0NK%N"?62]D%8=43/X!=^DJ8((_#72<5
M(I[E;A@HPK[C0I[(YH*8MR`;.P@+5#K#6\>1NA3$[MM&8,P7T-?)Y9OL"W@W
MD$S*6V,B4Y&T'UP^JC0PFJFM+,0>]^-(5G:?TJT?>I.Y@6@OA&*,X^"A_HB+
M$/XIT8_G)JLP7\`!SX(K.<NS+U%8*6'T?MSC)>07"_J-;!:04G?\_H#'"T98
M?)/LKN!32/@>'A'JH=0$63Z(N.^EZJ-T6I0R7ZV$H;Y$[LEM(G:\+`K&'3\.
M]+O"59[99@52:N2QC\<,<6>K5N`!WQ9D>`HTP=F+PMWD`C(AXC$N*]7%`31J
M=]408Z0TQ=-NM)];8HQ<+5N/":.%,\1<^&1K1R<[@L$6I>H#P;=)!S("D*G3
M!62^O,TD6$O<JM'9"BDQKTOFP<[*TWL1L7DT]YGWEKTKZT9A[79[%U$4&-O!
M'83]/34*@@_/T"#K"U@+/E#QCB&8[38\01@E_K("G+^@]I4U&.YN+6.JA%WJ
M>&P5OQ,)$<`)^\JL,CC@3_;TM'<LW0V)Z-XK@NP7J#&E*S)*76%9:#5YZI1Z
M"V%G8==Y,F9TT2<0%/-X`R-TA28>+C<_]M=PXO%'H-05`A=^FF5B`%=AB0))
MH,=T"*%.)-`R'&AW'F-T!L%*L^<BK_1&++(N?Z0B^(<0(U!].H&`*'@0'&!.
M%,$_-@98%]A,7K0Q%\@P"55^#A%CA:9T]Z)]F'59K6)BL+9_^O5M/`%^7:@0
M[C2""4%I^D80*!9B.\0QH*1D%]-_)G%&XG$"))`<F]0SR"=O;O,3(!:#1A<F
MV(9+\/)\PX4\S90!_JBC`HWG,7VG/2OH1XLT:C`V`H<W?Y-W$RY0>*+V:5SH
M$'^TB$36:@A!:8CR3@C8,*"8$A%UA4OD?&CU,%]';GOX$^$%?828;4VH$!N`
M`9T82=S2`@=37O>3'.QW?RC%$N(!>R^@(@OUBB>P689(1>CV:R_'$.>W:K.8
M8NYD3+UU(^75`9-U=1T3A"O!6F3U`3ZS+<1S>X%($J*%@2UTBLDE@09Q7=X'
M?84'`BN'3R:P7"V'=21SA"QQ:?ZE,='T.A28$,S6CB.A-[##`0>3AB"!7@;U
M.")($-J4.\M#4K?8,'#8$N@U6]K'CTIW/"GQ4F@Q$737/P3($0FU82F`_@*7
MM"XP4D`">3$09!./)3XMT&_7=W%G6!+T\30(P1<7T%-M@0%`=56.H500(#9M
M054)\")M@5-6=95,F9598P$5H)5C$P$.<!<1L`%Z@0$5T`$=4E0-@2!U-1$Y
M&7KT2!(LM2XH0T->R#`E8$PMB1.)2',&$3IQF1$.*1&;=),O\6YV1G:>)A(]
MB!_',UY3"!,1Q&S46(J!B1'O&!&9UBI]*!.;*1"`PP)L4UV1&1$9.!PPPFP^
MJ!/ZE`&EEUE/2(X_,5X"06PV43NQ"%B72$>LJ!Q_A`$>$%L_H4Z`1`(8@!TJ
MT`(1M9A"P4$?.!-,AVSR6$C[:!R/@UYD:!.H_I,<+7!E(Z8?;M@3`I>0-+%"
MZA*(Q=@1%D@>PU,Q0P%1:9%0D@-KK_6<0"%-?ED3X7.=2].('J%]@E8<'64"
MEUD3+!!M'H".X!)QM#@>XB@3".18BG:/JY*=O!%!I;D38XA(%FH3F?23,P$]
MUUB/9@<2@$@><'<4S+B,GA<4R[.#,@%!,/B@&N%.#/D;G3D5B&9Q1,%MD&D3
M@Y2`*7H1(3-JQ6&;7D&@D+B:/*%)!2J7&@-\`R&;&1$R'?D;]MD5*[!GY$)6
MNYEY'^&:]64<)K092#HN''!NTSD1@&D<AJFEO3DP-(H1EFF=5TH5J=@O+[F,
MV5@1S052!+D;S=@9_A3',/9"7^YT`BAPE^TW'B.:.S.H,%\Z%:"4H=GR+@]'
M7QW0H@LT'DH&:V`1DXJ4`I8J%(.*,"J067ITIZ8D)FDE'M0H%1L7J290+=K'
MI%UA::4Z+M!($=($HK^#JT3!`H7W1E!(:B]2>L=(&ADPJ?URFB[$,<6H3E1J
M%"$)@0$Z$.J$`A\0J5]1`K'Z$"2PJ\,A=!4Q/*D4.Q*)%"HBDISJ7]E:&HE(
M$#M7$"@`4;8HK%^REW&'1A'5/-^DC.P*CL@:J"^0:=ZZ&<UW8W=UH!T`8\=Z
MJMV2I5IT+\+%/H&7%'27K5Q:$*,7&^H$'Q2#1N[DGB```L\X$&LU+FMJ_A`H
M,`(9<"_RQX_K&!3=UV"/!I'UB&T4:QK&QG:PQ@'AE1DKX%K>-:_?4HD0P6HB
MP%F5.A`QVW!!H7V)P@$;@!SQFK$$4:VF88/?]TXQPH49J[3=\FX0(7R3I6HT
MR:@O$6TWX@+ZZ$#<1@*/@XZG&80?*QNN<V(D>[7Z%2_\1BZ;!8R85@(_MG;:
MNB(HLR[F2A-D97<BP`',1@*?:'8BH"+A.G""5H>^<4H6-&]+4T_"YRWP\H\&
ML0).!VXSA#IADEY^RZ\K@5YG!W5'\S@GJW+&]ZC1Y&PN$"\=Z!LID)=$BQ`(
ME+?>DJ`&:1`V*FAY^`+ZJ(_71;,%!V4M05_*_MBQ+W!=]Z(NC31$VG=K^BH<
MDM6+!-%/L9*9P_$N]1)(!]IZ*H`[/:FY]0A(&$`]8"H0C[-@=P<"B^JV(H&.
M?Z>UM1F?I-H0\.)AZXH?K!2G"$%1%F4ERC$"K\5TI2?!QJ1P88("&5D0H/MO
M`G%](M"#'3<0K'1J5R82&@69G%MC6J1+JL)MEG<0+@4H-H25-FQ4"[``"E`!
M%9``4R4!&T"6"=``';``9XD!4GD7"@`!'8"4//46&P`!.XP!;6$!4*D`#;`!
M%N"53*Q3"A#%=G$8"G`!&R`V7GG#:/P7.]S#CZ$06L551*D<VD5A+7!IK:2I
MR#-XPT46ZX(Z\2*#_JJ;L!0Q60A$7^&[$(]#H2V"7UE7(*H15W,E&J.I'-LY
MP@6Q9X@B`@(KA`$#?GU(8?%V=]!J$2:D(@Q,$1ITR-*26!<%P?B1`B;@@OBD
MCWXD9@>A4J`).978G1!+-)V'4BY`O18QKWY,K@,#6K@1*RW2G\G;?G-S26$B
MRV0!=2#@`J77H0G1:<:L6E^!7L[*</*;:FQ+P@L63..,R*\%HMPL'(XCI35&
ME\OJB2;FO/':$.HR=M^\SBV6H6MK$2HBR`;!;>\"T/K<(LP%@SV$<"+P>%Z:
M.@4]+LOSKW2D5^\BS0:Q1QB0N0^M*.%SIAFQ`B7PKO7(,2D@11OM+>&C_LX7
MT5M2MV")HKLG+2WA$[4=L<(DA4\MI[ZC&]/64H?IM<T/EBBE1V^<*<%`S=._
M06`@\<LG8T[8C-1C$B;UG!'T50);.LI0[4@_"A*<><Y9+2W&^]6K8[!B7=9F
M?=9HG=9JO=9LW=9N_=9P'==R/==T7=<GI``K,18I@=<IH=<HP=<HX=<G`=@G
M(=A$0=B#K1*&71*(71*+31*-31*//1*1'125/1*3+1*7'1*9'1*;#1*=#1*?
M_1&AK1`OD\PRT]<K,=H>4=H>P=H=X=H=`=L<(=L<0=L%@3,0O%B)K=@J@=L:
M8=L;`=P9(=P:0=P88=P#`31H0<,QE<8W?,;2_JT8TUW=?A%5UIW=<H'==I$0
M33.47F77_>+(:",HDBS>"%,K=Y,WK8S>"2,XN>'>\CW?X$$9MC(0IRT2&I``
M(<`B#X``DWPM_.T"^]W?(_$KW8'@(S$XYIO:'Z'@\Y$E[FP1@V/?O+T1"LXD
M#`(4!C`6!W``!'[?G"T`!?`>EE$`!8`MK4WB>!,`"Z+B'8$`!P`D""#C-"X2
M.M/?%242-AXD+\`L`=X1.J,F/#[CJ9$I*>D3H_$`<L7<(C$`SD$E'UX24%XA
M`*`:GR$2!>`<%(#B7"Y7(#&4*Y`6.QX26XXC<L4H<=P1*$E76O[E#S`6Z]$3
M!W`;>=(T(D$`JC$`\0;0)FB3YWO.+`-P'Z\"(?8Q&ESU$>!]%LX1$HB>,ST2
M$G",($QQ&Q_QZ.YA`&#^$PO"XFDC$O8=``<@`(]LZ6$>&7:C``+@X!V1'FCN
MZET>$FX^&I"<YU^>`+>QYAPQZVRY&D<]$+!>`#K"*%4"%.9A-U=.$EKE*4!B
MZA^1&0*@52^``)O^$3U>XT9>[!^A,ZQ<Y#2^%`F"XQ>E%2;N$=>>*?+A$WEC
M(++"XP(@ZI42``3PYR$A):+N(9'1Z"$!X1`>$H.#S$^^X<L=Y!PQ."`RXR"A
?X!IP(3`>'"$PR03O$0]/%A%/WQ9_\1B?\7\5$```.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>b69203a1b6920312.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 b69203a1b6920312.gif
M1TE&.#EAY0'X`/<``"$8(3$I*3$Q,4(Y.4I*2EI:6FMK:WM[>XR,C)24G)R4
ME)S6G*6EI:6MK;6UM;V4QL;&QM;6UN<Y.>?GY_?W]___________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M____________________________________________________________
M_____________________RP`````Y0'X```(_@`K"!Q(L*#!@P@3*ES(L*'#
MAQ`C2IQ(L:+%BQ@S:MS(L:/'CR!#BAQ)LJ3)DRA3JES)LJ7+ES!CRIQ)LZ;-
MFSASZMS)LZ?/GT"#"AU*M*C1HTB3*EW*M*G3IU"C2IU*M:K5JUBS:MW*M:O7
MKV##B@5+`<`$"A,`J&4PT(%:!V/CRIT[=("`"!4F##`(0&!?NH`#"Y:I=T*%
M"'L)4D@\@,+@QY`CCQQ@."T``X;S,I[`H$'GSYY#@QXMNC3ITZ93HUZMNC7K
MUZYCPYXMNS;MV[9SX]ZMNS?OW[Y+TZ7LV#$"`P+3"J0LN;GSYQ.9MT7NMSKT
MZ]BS#R1@&():RLK=_@*`J[V\^?/HTZM?S[Z]^_?PX\N?3[^^_0H2\NN74'`"
M@?L`!FC3?OKUEYB`"":X$H'Y%82890!`4(%:!)2E%@4$!````0-$:!D""H8H
MXD(,\D=080%4X$`!""@@T`$N*G#``&P1X``$++KXUX@\]EBB@7II)AUSB#%'
M69%JF=7CDB+^>.(`B&EV`(@5')!`!3(:.8%>!K#%Y)<*.CE0!-S]YY]>`!1@
M(0`8&L8=F1-H>""8=-97HF-UYJFG0A3T60&>>P8JZ*"$%FKHH70NH.BB"QC$
M'45X>50A!9$.Y!]#%2*J*4^,+FH0<1(%"9*H8\ZYZ:E"=:KHIY4E26F2_A#$
MJ59F$P)P``,`"#!!!-\)L&&'$@J$:X0%J`4!`;[JRIU:!Q3KX8$(4.A=FA64
MJ58!J&8+DZJ-%L0<C%@>,($`*A9P:P6ZXAED7PR(FR*-U=Z(K75YE3M`C#/N
MNI=A*Y+*;F/++:876P!K:[!*W+(JL&9!ZF4DKP`H4%B2W.VE992:M44```,0
MV?&6>SFP,66)-4R9`;[J]6`%H![L<DD)>VN8E>%&J=>Y`="*&`4I)F>Q8>`=
M^->X$3C0\94)Y+MS`$63/-"_!H!8<6$+OVRU2#$3M+&MKEYZIH9F`9IFM``P
M<.FC;_XGK+%J"<!ALF=.Z*S;EPI$-HU)GHDV_JU7]TT3H!.")%U$[?IM>%##
MNOC1HQ#)R??AD$<NN:`'K,5X0I4F]Y'7#JK-I^>3AP[1`Z27_H"!`PV.D.JJ
M=Z0ZJ:+'KI'II1LD`'EV43NLV6HI<*%`OINE%@*607S9A@1):RR$Q!,0O'@%
MD"JK6<[&NJRQLF=O$.VD&^0?MO"R^9=9/;?,\@0M3AAG7BE"L!?CZ?]9`8[K
MJ_]S9E`>>*ZN>/4+);DKTEY&%/`?!`#+4DKJF*EXQ+W3'00!^3K?9C:3@`N1
M+&_[RN#YEI.9"1B`8Z)R&GA09I8#:4ED('0:[`0X$5X="$<#*1:MTL6D!B)D
M1<2AS/A">);4>=!+_D&RV<\<,R7'&$`![JM?"<\7M6J1"F<18)K1"J-!%EK$
M:`.)'\/PM*,EV?!$WXD;=W97MPH&JP(59(#CS,1&)_HL3;BB6Y(D]I\TYLUS
MT[,,W<IT&-!9,52)B:+,!%(`Q=60>SA9X4.Z.!#`_;$B#<N9S"B0@'D]4B)D
M(ESO+KFY_XS,`(L1"'?2(@`H<?*4J$RE*E?)RE:ZDBLEBJ4L7TE+ELCRE@1*
M3UEZN#%+JN@MM90,+H=IHO/8)5*&"8#8Z!7,P1`3E^DI3/(LQ1A'-I,NW,JF
M-JV9G<$%T&<<Y.8UQZ+-<G9*/2T;G'(V.,[`F/.=W4*/=(HXS<"UTYWP_BRG
M>AX%H5CU13SD"0YP!BK0@A+TH`9-*$(7JM"&,A0T^2SG0>])T8)$5)L5S2A&
M+II-C7J4(AS-VD='VI"0JHJD*&6(2<^9TI8>9*6,<JE,"0)33\UTIC5=U4UE
MFM-X[C2E/?VI2X,J5*#FM*A&K2E244K4I7ZTJ4[5*%2C6M&I4O6>5KWJ.+.J
MU69RM:NU_"I87RG6L;:RK&9=)5K3FLJULO64;GWK)>,JUS_2M:XLO"M>M:?7
MO<JNKWX5'6`#.[G!;B5X$_`E8:G24W'.)90D>]QBHV)8K03`:+A*2`7+IC7D
M338HE<U*!$AX1K[02P$@TN)G>Q+:JU#`D`D1_I6N!&(`"4&`.JME;4X=*Q>B
M,<0LO,*?83"66TX=-3)E`1N;N.F=C66F`+;%;7%UTMJK5!!N"B$N:BN@VH<Z
M]+O>#2]XQRO>\I+WO)_IZ41=JTRG(21O$^K3QOPX79Q4MRK*:=&DZNN4^U;%
M1?Z1+G^7XM\!:ZK`4W'6A7AK8-`>%S)U:W!_'PR9`916PDI!\%/6Y*L%8Q@I
M&OYPH$(,E0)R3,0@IO!@,`2!%,T6Q45IK&0JAQ?ZPA@H)+XQF'*L8R;QF"FO
M[?%1?KP4WPJ9*#*&3')=Q>`CTX3(2]EL8IV,8Q4+!K+2I+)N:]KDL5P6;UKV
M"925,EI?73C,]K6R_F".M:',H3G-7)9,A.;'R#?;9,Q(F3('[9P3/"-E/"HB
M%Y_A#-,NAZ4L'>J0AP<]$S\S&CZ.?K1[(BUI]E":*(A5;*5?DN3'8+EUFV[)
MI8?RY<R&.B:C%DJ9YWSJ;>T6N0>(H9]:+6HUTT4\21(TK6NM5.0*>->\+K1D
M?(==A%2NB_,%=D92#12>"6R!`V&`'[>K6F5/A-D_R2\!9UV0+G4[NM:V2*<?
M`V`"_#IU:L&MQPB"WG:;]]WNCC>\YRWOW*C7H%UA`+<)4@""X0FZ\SMWN!V"
M[9YL[0`?%#AW720=:L-VX!`I^$[J-@`JQ59#L693M3P+<8E(7"<02M)R_CL.
MLU>3?,>V/KF(/JYRN;"\Y>1,.<P1]/*9@Z7F-O<*SG/.E9WS7"L^_SE6@BYT
MJQ"]Z(R5.=+E<_2EVV27Q<G0E=(B682,V^F0^6!F$,"6OLB0X$K'>F\YU,/H
M52!Z5"MIV,4^E@*L[.QGB5[55&IRMK-$``&85UH&@"T'X-U++D'TB;G;]3VK
MO==V=XG&B5O;V\YDE(WAT)6<V.6FM[Q^TB.`V9EB^9,SH&,^XWNUCFEH,:\]
M\2+)U-/*,C]-#_GTJ.^(^P:`G`'XG?9GM\N94?+,6[X4]K''2N]G:9#.!]\D
MPX_E[Q%_?+$D7TPT!7[SDQYGBTI_^E+)JO&M_OU\!J%$^]?'/D2ZG\N3@)_Y
MXN\(^??S?35O7]EX/C],TP^2^+L__/2G._I'(O^5KF=8TI5L0Q5V"K0='`,7
M4'=X\U=\^%=A>.)P`[A_"/%B@_-U"KA2UO1^/O%BM15P!$%O(%AO(3B"]:9>
MLP$`H2$`"?`9":""M'%OHV&"!048'6))Z]92:U5(`S$C`A`LH&9U]R>!YA$G
M?@)PCH>#8:<`F@9#[*1_"VA]0F@>#9=:#S=2945*4*(7!7!,HE1URR=L!=%`
M8CB&I1<9S@(B&B>`2!B%'Y%58_B&M)-_'F%_$@B'=NA`<K@1=/B$!'&'<)B'
M!-06'<,F'`)M0"B$_NM7(%_H?]OCAV,HAR[4'V;A289V=0*1B/G!36[HB&*8
MAUA$$.D3-;$&=HB(B8?(AP/!B9THARO4%RUF;@_!5;*H9JKX1?D'.P$$<*KG
MA!BXB"9UBHP8AK48AZQH)N\#%RTV`#8&C+_HBR'%C,_8B,-8.WFHA[8VBW4X
MC=18C<MVC=Z8C=J(A]QX$=B(B@.QB>$XCMTHA.48C'T8CN*HCB#UC>8H$.BH
MC?2'B<44?>Q(C^Z8BO!(?_W7C`S8C^"(C^DWD-%8D/58`?<XC0(9A`W9C@3Y
MCNF8D!+YC^?HCQ4)D!<I?@K)4=`HDLY(DL+XD=@7DA<UDBM9DBUYD@@)_I(9
MV9$;:9#U"(_Q&"`8$@"3MW?8H@#*6(8C5G<U.9$<N9`6&9,(PG7VY"\5P``6
MIRTJ&5$L294N:94P"9$*8G9FAS%3IF<&@Y,9>)0F"84W&9!;&7>&L1A\-V41
MX'H+`92JYQ\"H`!^%P"`-VQ!:3<'1'4/@9-7F4]5*9@'(9;2J)0"PI2,)#Q/
M&94.P2Y4HIB-IW!YABR&Y)<!(`!PN1"021`P9($-`9@,V8NC29,"(9I9.8PA
M@B$#<"6V5TK((9="^97SPI6)!0!NQA2*&4-*XA?[QA"T"8H`9CX+@9K\:)1"
M:)P>B9C:\I9Y49MQIP!N0YD(09>7J21^"1.V_NDS'=0S$.&6EB1(AA>::&F6
M&FF/1+F<6IF:M7@UG4EX<B,AN^@0NTE(2@*:+B%W<A=.GV>(G-F8R2%)X>00
MRHF>U6>>IED!!:J@Y>DRLDD<'()$`:",$K&=#+-%$R&;R6&9$U&?XSF?#B&;
M>O%)7?B7#5J4Y^F0MK:@"ZI*^ME#Y^,8/]@0[^FAWREYH>1$LT>=);&@%!E2
MW,2B)QH@^I@2-CHD,/J=V*)G%JH10BD2/IJ>!MJ00HJ2`E*D*.$?K9FCW.$8
MEP,1SLFD:OFD/1&E-IFB5<J<`(*E25&CA0<59HJ<8,B>JEB80[JFIJ@4"1"4
M$'HO41&GI(F@2)F4_NM)J*JI'@#56<O(IO#!J(;:GJ4YJ"B:H&E:J.<Q/@,!
M@0:ACV0J%8ZJGH=ZF)8ZI2EJB0QJI:=YI]F1HP73@4>XD9^J*'EJ49\:$IQJ
MIZB:JKG:HEQ5J:%Z'CPDH\,U)Z&!DZH!C\>*K*>!DZ31`,::&LP*K?"XK-,J
MK>&(&M$Z&MDJ4'.Q3M)AA)0)*'@RK@)!KDKV$YVZ$N+:2.PJ$>F*$.^*'I@*
M/%0HC^^1J&G(<?:ZK_S:K_[ZKP`;L/,!=6BR%YM%,$S&$`2;:)IQ8BVFKPJ!
M`&H3/&Q!L05+G\"4J!H+3`W12Z+D60(HL0_AL1NG-LE&-CSZL7,F@,D&_H`.
M0;(LRW$&L(R.0BTE^[%F\AT8"V@;"VA1%#$-@;(X^TN`IF@CER!<>"X($"WT
M4C\,D;1LL;1*BP`%`!<%HQ!ND1B8.CY3VQ#]LQ=;6QWS"IP5H$P.EP!4F+4/
MD4RO185HNW`]=+0*P2_.X[;U&C`-P;9G6Z^1F+=EV[8+][8MHDASJR)@*[;5
M$0"[5YV^Z7!CZ[0)(DW,X0`&D!@O-B4.(;G\4KF;ZP!LL9D%@46RA3&EM+D/
M832LFKK5M$@5X*H&X+J&&Q%]X;JPRTP,\7FT"VX"\6(TVKK1!;O.XY\',;N_
M&UW$=;J-44W5Y)T00;RMM[I5XI@(PAP01`&5_@M<O=F;#4&]!V"]%1=KE1M%
M'9BW6KLKPF.^!@"^PNLML3)!'+09719`'K-NA)L0\CNL-XAP$-&#\SNL+&.S
M#7&_A_$Q`^P_IPL^^#NLEI&73PL!&.->.I0KN9D0^DLD@P<JVJL@H/)!M-=<
MR\4`H*LPK<LQR,'!*,,`:I2YB>'!$^#!UDO"](D<WCK#?S&CK')VT06N&?,0
MS`&N.OQY$)&^.!QP.LP^O[DZAN'#T<4_ZTL0/9S#X.88O+L0Q_$G-3S#`!3"
MT9881E@L>P;"/*(Z52L0#\S`"R'&Y'%VGWBUV34GQ$5<8\P0+?8TB!LX8[L0
MF(LE=KMP`_P0]+2WF0L715YX$-))KX%[MTVH$'D,R"VB7%5X$'^\QUK$Q@DQ
MQ];1%V%+N5XKH(YK'?`R(H\2/&@X*[:+*6>Q62`BRE62;IFK-O"5-ZI,HSK;
MLW"1J`H+*S>;RQ&V$&LBGR"+/"*WN&"DLS'['V?8$+V<RVJXRPF1S,5,9P`@
AO>\URQD+3,0VP7R!R\EFRW4FL-[\S>`<SN+,=@$!```[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
