-----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,
 FqkNB6M+2SNx+Jr/M926hWJ40j22254OnJ7PP1XuBNll/P86+PVFBefMxEsJOsnJ
 CzL32VeLgiHgUAHhzciiiQ==

<SEC-DOCUMENT>0000950137-07-009692.txt : 20070703
<SEC-HEADER>0000950137-07-009692.hdr.sgml : 20070703
<ACCEPTANCE-DATETIME>20070703162254
ACCESSION NUMBER:		0000950137-07-009692
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		15
CONFORMED PERIOD OF REPORT:	20070430
FILED AS OF DATE:		20070703
DATE AS OF CHANGE:		20070703
EFFECTIVENESS DATE:		20070703

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAMOS GLOBAL TOTAL RETURN FUND
		CENTRAL INDEX KEY:			0001285650
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21547
		FILM NUMBER:		07961160

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
		BUSINESS PHONE:		6305779688

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>c16419nvcsrs.htm
<DESCRIPTION>CERTIFIED SEMI-ANNUAL SHAREHOLDER REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE>nvcsrs</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 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: 18pt; margin-top: 12pt"><B>FORM N-CSR</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CERTIFIED SHAREHOLDER REPORT OF REGISTERED<BR>
MANAGEMENT INVESTMENT COMPANIES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>INVESTMENT COMPANY ACT FILE NUMBER:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-21547</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calamos Global Total Return Fund</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="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">ADDRESS OF PRINCIPAL EXECUTIVE OFFICES:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2020 Calamos Court, Naperville,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Illinois 60563-2787</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap valign="top"><DIV style="margin-left:0px; text-indent:-0px">NAME AND ADDRESS OF AGENT FOR SERVICE:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">James S. Hamman, Jr., Secretary,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Calamos Advisors LLC</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">2020 Calamos Court</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Naperville, Illinois</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">60563-2787</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">REGISTRANT&#146;S TELEPHONE NUMBER, INCLUDING AREA CODE:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (630)&nbsp;245-7200
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">DATE OF FISCAL YEAR END:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; October&nbsp;31, 2007
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">DATE OF REPORTING PERIOD:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November&nbsp;1, 2006 through April&nbsp;30, 2007
</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 1. REPORTS TO SHAREHOLDERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">ITEM 2. CODE OF ETHICS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#004">ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#005">ITEM 6. SCHEDULE OF INVESTMENTS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#006">ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#007">ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#008">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#009">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#010">ITEM 11. CONTROLS AND PROCEDURES</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#011">ITEM 12. EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#012">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16419exv99wcert.htm">Certification</A></TD></TR>
<TR><TD colspan="9"><A HREF="c16419exv99w906cert.htm">906 Certification</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 1. REPORTS TO SHAREHOLDERS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 1. REPORTS TO SHAREHOLDERS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Include a copy of the report transmitted to stockholders pursuant to<BR>
Rule&nbsp;30e-1 under the Act (17 CFR 270.30e-1).
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="c16419c1641901.gif" alt="(PICTURE)">
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Managing Your Calamos Funds Investments
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-variant: SMALL-CAPS">Calamos Investments</FONT> offers several convenient means to monitor, manage and feel confident about
your Calamos investment choice.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>TABLE OF CONTENTS</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="92%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&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">Letter to Shareholders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Economic and Market Review</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investment Team Interview</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Schedule of Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Statement of Assets and Liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Statement of Operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Statements of Changes In Net Assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Notes to Financial Statements</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial Highlights</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Report of Independent Registered Public Accounting Firm</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">About Closed-End Funds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leverage</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Level Rate Distribution Policy and Automatic Dividend Reinvestment Plan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Calamos Investments Advantage</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Calamos Closed-End Funds</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>24-HOUR AUTOMATED SHAREHOLDER ASSISTANCE</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="15%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>800.823.7386</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Through a single toll-free number, Calamos 24-Hour
Shareholder Assistance is fast and easy.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#149;</B> Get fund prices and account balances</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#149;</B> Review recent transactions</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>&#149;</B> Order statements, literature and more</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>PERSONAL ASSISTANCE</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>800.582.6959</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dial this toll-free number to speak with a knowledgeable
Client Services Representative who can help answer
questions or address issues concerning your Calamos Fund.</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>YOUR FINANCIAL ADVISOR</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">We encourage you to talk to your financial advisor to
determine how <FONT style="font-variant: SMALL-CAPS">Calamos Investments</FONT> can benefit your
investment portfolio based on your financial goals, risk
tolerance, time horizon and income needs.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Sign Up for e-Delivery</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It&#146;s convenient, it&#146;s timely and it helps reduce mailbox clutter.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">You can view shareholder communications, including fund prospectuses, annual
reports and proxy statements online long before the printed publications
would have arrived by traditional mail.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Visit <B>www.calamos.com </B>and sign up for e-delivery.
</DIV>

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

<TABLE align="center" cellspacing="0" cellpadding="0" border="0" width="100%" style="font-size: 10pt">
 <TR>
<TD width="49%" align="right" valign="middle" nowrap></TD>
  <TD width="1%" valign="middle" align="center"><IMG src="c16419c1641902.gif" alt="(EMAIL ADDRESS)"></TD>
<TD align="left" width="49%" valign="middle"></TD>
 </TR>
</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Visit <B>www.calamos.com </B>for timely fund performance, detailed fund profiles, fund news and insightful market commentary.
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Letter to Shareholders
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="c16419c1641903.gif" alt="(PHOTO OF JOHN P. CALAMOS)">
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Fellow Shareholders:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Enclosed is your semiannual report for the six months ended April&nbsp;30, 2007. As always, we value the
opportunity to communicate with you and encourage you to review these materials with care. You&#146;ll
find share price and NAV performance information, commentary about the Fund and markets, portfolio
allocations, as well as a complete listing of holdings and financial highlights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As you&#146;ll learn in this report, the Fund posted a solid gain for the period and continued to
provide a stable monthly dividend to shareholders. We believe the Fund&#146;s performance&#151;both during
the period and since its inception&#151;speaks to the value of dynamically blending securities from
different asset classes to pursue returns and manage risk. I am also pleased to announce that, as a
result of the Fund&#146;s strong performance, we raised the monthly distribution by 11&nbsp;percent during
the semiannual period. This marks the second dividend increase during the past 12&nbsp;months.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This year marks an important milestone for us&#151;30&nbsp;years of helping investors achieve their long-term
goals. When I look back to 1977, in many ways, it was a very different world. Personal computers
were years away from being standard office equipment, and we still did calculations with pencils,
paper and French curves. The Dow Jones Industrial Average was trading well below the 13,000 close
it achieved in April. In fact, it was trading below 1,000! Without the benefit of today&#146;s
technologies, we were less connected to other countries and markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although much has changed since 1977, the core values that guided <FONT style="font-variant: SMALL-CAPS">Calamos Investments</FONT> then continue to inform each decision we make today. We place you, our shareholders,
first. We recognize the assets you entrust with us are the result of hard work and carefully
thought-out choices. We regard the management of your assets as both a responsibility and an
honor&#151;one which we welcome with the utmost dedication.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We continue to believe strongly in the value of teamwork. Each Calamos fund is managed by a team of
investment professionals. In our view, teams maximize individual talent and the best ideas emerge
from an environment of collaboration. As we have grown, we have continued to strengthen our team by
adding new and talented associates. I&#146;m pleased to announce that during these past six months, this
growth has continued with the addition of seasoned fixed-income and cash management investment
professionals to our ranks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thirty years ago, innovative and entrepreneurial spirit served to set us apart. Then, we were using
convertible securities&#151;which were little understood&#151;to maximize return potential while managing
risk. Throughout our history, we have continually challenged ourselves to understand and maximize
the potential of the evolving marketplace&#151;indeed, the world. We believe that globalization has
given rise to truly exciting opportunities for growth and progress, and believe that this fund is
well positioned to participate in the dynamic global marketplace.
</DIV>

<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Letter to Shareholders
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top"><B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">1</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Letter to Shareholders
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We view the long-term results we achieve for you as the most important
measure of our success. Consistent with this, we seek to invest ahead of events
rather than chase performance, and always keep a close eye on understanding and
managing risk. As we have for 30&nbsp;years, we view this focus on risk management&#151;on
protecting your principal over the long-term&#151;as a key differentiator of our
investment process.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If you have any questions about your portfolio, please contact your financial
advisor, or, contact us at 800.582.6959, Monday through Friday from 8:00 a.m. to
6:00 p.m., Central Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We thank you for your trust and look forward to helping you achieve your
financial goals in the years to come.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Sincerely,
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="c16419c1641904.gif" alt="-s- John P. Calamos"><BR>
<B>John P. Calamos, Sr.</B><BR>
Chairman, CEO and Co-CIO<BR>
Calamos Advisors LLC

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>This report is for informational purposes only and should not be considered investment advice.</I>
</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="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top"><B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Letter to Shareholders</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Economic and Market Review
</DIV>
<DIV align="center">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>For the latest market and economic outlook, please visit our website at www.calamos.com and select the &#147;Individual Investors&#148; button.</I>
</DIV>
<DIV align="center">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Continued global economic growth and corporate profitability helped lead the major markets higher
for the six-month period ended April&nbsp;30, 2007. The period was not without volatility, however,
particularly in its final weeks. In late February, Alan Greenspan&#146;s comments about the potential
for a recession in the United States roiled markets around the globe. The slide of the sub-prime
mortgage market and the deflation of the housing bubble in the United States further unsettled
investors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As the period came to a close, indications of a change in leadership in the equity markets may have
begun to emerge. In 2006 and during the first months of 2007, the market rewarded stocks with more
cyclical long-term earnings growth prospects, particularly in the United States. After the market
correction in February, however, investors began to favor quality companies with stable growth
prospects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The global convertible securities market continued to offer investors compelling opportunities.
Issuance was strong in the past six months, particularly in the United States and Asia. Valuations
also continued to improve. For the six-month period overall, investors rewarded lower-quality
convertible securities most; speculative-grade issues outperformed investment-grade issues. From a
sector perspective, cyclical and value-oriented companies outperformed growth sectors. However, as
in the equity markets, indications emerged that the tide may be turning away from cyclical and
lower-quality issues. After the February market correction, investors began to return their
attention to higher-quality, growth-oriented convertibles.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The high-yield market benefited from strong issuance during the period; and defaults have remained
near record lows. Unlike the equity markets, the high-yield market climbed at a fairly steady pace,
with lower-quality credits outperforming the higher tiers of the high-yield universe for the
period. Credit spreads remained narrow, particularly in the CCC segment of the market.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe the global economy is sound and a recession is not imminent. In the United States, core
inflation is in an acceptable range, despite high energy prices. Under Chairman Bernanke, the Fed
has done a good job of managing the economy and has sufficient room to move rates either up or
down. On the whole, consumers have access to credit. Productivity and labor trends remain positive.
Despite higher prices at the gas pump, consumer trends are strong, with good gains in wage growth
supporting consumer spending. Earnings growth seems likely to drop from double-digit levels in
2006, but we believe this is simply a return to more normal levels. Merger-and-acquisition activity
and stock buy-backs also further the case that corporate America appears to be on solid ground.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Although the U.S. housing market remains a source of apprehension for many, it is important to
remember the strength of the economy is due to its diversification, productivity gains, inflation
containment and global reach. For example, since the 1980s, the U.S. economy has experienced
rolling recessions in various sectors (including agriculture, commodities, banking, and information
technology)&#151;while avoiding a significant overall decline.
</DIV>

 <DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Economic and Market Review
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top"><B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">3</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Economic and Market Review
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Outside the United States, economic conditions continue to be positive. So
far, the slowdown in U.S. growth has not impacted growth in Europe or Asia. In
Europe, business confidence data and employment trends have improved, while
continued corporate restructuring should support profitability. Although Japan
underperformed other major international markets, longer-term positives include
good fourth-quarter GDP growth and encouraging consumer trends. Meanwhile, many
emerging economies continued to benefit from a variety of factors, including
increasing global commodity prices and substantial outside investment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">History has shown that even during periods of economic slowdown, the markets may
offer considerable upside potential. This has held true during the semiannual
period. Looking forward, we believe many opportunities exist for long-term
investors, across asset classes&#151;and around the globe. With its broad
diversification among stocks, corporate bonds and convertibles, Calamos Global
Total Return Fund is well positioned, in our view, to pursue income and total
return.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><I>This report is presented for informational purposes and should not be considered investment advice.</I>
</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="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top"><B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">Economic and Market Review</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Investment Team Interview
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In the following interview, the Calamos Investment Team, led by Co-Chief Investment Officers John P. Calamos, Sr. and Nick P. Calamos, CFA, discuss the Fund&#146;s performance, strategy and
positioning during the six-month period ended April&nbsp;30, 2007.
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Common Shares &#150; Inception 10/27/05</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="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>6</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Since</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000"><B>Months</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000"><B>1 Year</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000"><B>Inception**</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">On Share Price</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.38</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">30.24</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">17.91</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">On NAV</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23.29</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Total return measures net investment income and capital gain or loss from portfolio
investments, assuming reinvestment of income and capital gains distributions.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">**</TD>
    <TD>&nbsp;</TD>
    <TD>Annualized since inception.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. Before you discuss the performance of the Fund, can you provide an overview of its strategy?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. The Fund offers investors a defensive approach to global equity participation as well as an
attractive monthly distribution. In pursuit of capital gains and income, the Fund opportunistically
combines equities, convertible bonds and higher-yielding corporate securities from around the
globe. By dynamically investing across asset classes, the Fund seeks to manage risk and enhance
return through full market cycles. In effect, the Fund seeks to participate in long-term upward
trends of the global equity markets but with the added benefit&#151;and potential downside protection&#151;of
a stable monthly distribution.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. How did the Fund perform over the reporting period?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Calamos Global Total Return Fund (CGO)&nbsp;posted strong gains over the semiannual period. Its
underlying portfolio (as represented by net asset value, or NAV) returned 13.86% for the six-month
period. On a market price basis, the Fund returned 16.38%.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;re very pleased with the Fund&#146;s performance during the period. Although we follow a more
defensive approach (by blending asset classes) than a pure-stock fund, the Fund&#146;s return surpassed
the very healthy gains of the all-equity MSCI World Index,<SUP style="font-size: 85%; vertical-align: text-top">1 </SUP>up 12.13%.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>DISTRIBUTION HISTORY (LATEST 12 MONTHS)</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Date Paid</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 0px solid #000000"><B>Per Share</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">April</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.0975</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">March</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0975</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">February</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">January</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">December</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">November</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">October</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">September</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">August</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">July</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">June</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">May</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.0750</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD colspan="3" align="left">Monthly distributions are from net investment income, short-term capital gains and/or long-term
capital gains. For more details please go to the Tax Center located at www.calamos.com.</TD>
</TR>

</TABLE>



<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="c16419c1641905.gif" alt="(LINE GRAPH)">
</DIV>




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As the result of this strong performance, the Fund provided shareholders with an increasing monthly
distribution. In March, we raised the monthly distribution from $0.0875 to $0.0975&#151;the second
increase during the past 12&nbsp;months.
</DIV>

<DIV align="right">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Investment Team Interview
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top"><B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">5</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">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Investment Team Interview
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><IMG src="c16419c1641906.gif" alt="(PIE CHART)">
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Q. How is the Fund positioned?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. As of the close of the period, the common stocks represented
approximately 54% of total investments, corporate bonds represented approximately
28% and convertible securities represented approximately 17%. Across the
portfolio, we&#146;re seeking companies with steady prospects for earnings growth,
good cash flow, high return on invested capital, capable management and sound
business strategies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Given our view that the economy has entered a period of mid-cycle slowdown,
traditional growth sectors&#151;such as consumer discretionary, financials,
information technology and consumer staples&#151;are well represented in the
portfolio. The Fund is also selectively invested in the more cyclical areas of
the market, where we have found securities which meet our investment criteria.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this portfolio, we strive to strike an appropriate balance between quality and
yield-oriented total return. (Typically, higher-yielding securities offer higher
income streams in exchange for their additional credit risk.) Reflecting these
considerations, the portfolio is diversified across the credit spectrum, with
selective investment in the more speculative tiers of the credit universe. Also,
within the Fund&#146;s convertible stake, we are emphasizing issues with a greater
degree of equity sensitivity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>QUALITY 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="88%">&nbsp;</TD>
    <TD width="5%">&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">Weighted Average Credit Quality</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">BB &#043;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">AAA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.0</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">AA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BBB</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">BB</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">B</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">34.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">CCC or below</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Not Rated</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17.9</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Data is based on portfolio holdings. Credit quality shown reflects the higher of the ratings
of Standard &#038; Poor&#146;s Corporation or Moody&#146;s Investors Service, Inc. Ratings are relative,
subjective and not absolute standards of quality. Excludes equity securities and cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Q. From a regional perspective, what are the areas of emphasis within
the Fund?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Our discipline leads us to countries that embrace democracy and
economic freedoms. Research has shown that economic freedom and democracy bring
improved standards of living. These improvements are catalysts for the creation
of wealth.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The portfolio invests the majority of its assets in developed markets broadly
diversified across North America, Europe and Asia, with the United States being
the largest overall country weighting. The Fund invests selectively in emerging
markets as well. Within the emerging markets, our emphasis on economic freedoms
leads us to favor emerging Asia. With the exception of Mexico, we remain very
cautious regarding much of Latin America, however, given the limited acceptance of
free-market principles.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>REGIONAL 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="88%">&nbsp;</TD>
    <TD width="5%">&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">United States</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">42.10</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Europe</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">28.70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Asia/Pacific</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">22.40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Latin America/Caribbean</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Middle East/Africa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.10</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Region allocations are based on portfolio holdings.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. What factors helped performance?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. The Fund&#146;s advance was broad based, fuelled by positive returns across
all market sectors. Industrials and financials were among the leading
contributors. As international markets led for the period, the Fund was well
positioned to benefit from its global diversification. From a geographic
perspective, the strongest performers were diversified across countries, with all
regions contributing to portfolio performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On an asset class level, the stock, convertible and corporate bond allocations of
the portfolio all contributed positively to performance. Stocks led, followed by
convertibles. Within the convertible stake, a bias toward equity sensitive issues
proved advantageous as the stock market advanced. Credit selection was good
across the portfolio, with gains throughout the investment-grade and lower-rated
tiers.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Team Interview

</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">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Investment Team Interview
</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="88%">&nbsp;</TD>
    <TD width="5%">&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">Consumer Discretionary</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">24.6</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Information Technology</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consumer Staples</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Health Care</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telecommunication Services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Materials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Industrials</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Utilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.3</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sector allocations are based on net assets and may vary over time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. What factors hindered performance?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Although all sectors in the portfolio contributed positively to
performance, they did so in varying degrees. Relative to the other areas of the
portfolio, materials and energy contributed less.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the period, non-investment-grade securities performed most strongly in the
broad market. We blend both investment-grade and non-investment-grade securities
in the portfolio, consistent with our risk-managed approach. We believe, however,
a greater emphasis on quality is more appropriate in a period of mid-cycle
slowdown. For us, a higher coupon or income stream cannot make up for a default.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. How did your leverage strategy influence performance over the period?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. Our leverage activities enhanced the returns to the Fund&#146;s common
shareholders. Leverage strategies typically involve borrowing at very short-term
rates and investing the proceeds at long-term rates of return. As short-term rates
rise, the cost of borrowing increases, which may make leverage strategies less
profitable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">During the period, short-term and long-term rates generally held steady. However,
it is important to note that the Fund is a total-return oriented offering, with
investments in a broader pool of securities than funds with a pure income focus.
We continued to find attractive opportunities&#151;across asset classes&#151;with returns
that more than offset the cost of our borrowing activities. (For more on the
Fund&#146;s use of leverage, see the section &#147;Leverage.&#148;)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. As of the close of the period, the Fund was trading at a modest discount
of 2.11%. In your opinion, how should investors evaluate this discount?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. This discount has narrowed over the period, declining from 4.23% at
the end of October. We believe this speaks to the greater recognition that the
Fund is receiving in the market as the result of its global focus, strong
performance and steady yield.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The discount may also be influenced by short-term trends. In the first four months
of 2007, many new closed-end funds were brought to market, changing the
supply/demand trends in the closed-end market. In our view, these short-term
factors contributed to the discount. For long-term investors, this discount may be
viewed as an opportunity to invest in an established portfolio with demonstrated
track record, at a &#147;value&#148; price. We believe that the Fund&#146;s NAV returns and
steady distributions&#151;over both the reporting period and longer time periods&#151;speak
to the value of the Fund within an overall asset allocation.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>COUNTRY 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="88%">&nbsp;</TD>
    <TD width="5%">&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">United States</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">42.10</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Australia</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Japan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.80</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">United Kingdom</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.70</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Switzerland</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mexico</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.30</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Greece</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.20</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bermuda</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.90</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finland</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.40</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other Combined</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14.80</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Country allocation is based on portfolio holdings.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Q. What is your outlook for the Fund?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A. We&#146;re optimistic about the prospects of the Fund. As we noted in the
Economic and Market Review, we believe that a great deal of long-term potential
exists across asset classes&#151;even during a period of mid-cycle slowdown in the
United States. With its dynamic blend of equities, convertible bonds and
corporate bonds, the Fund may serve as a compelling portfolio cornerstone.
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Investment Team Interview &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Investment Team Interview
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Good corporate profitability and global economic growth&#151;along with
merger-and-acquisition activity&#151;are among the factors which should continue to
provide support for stocks. Within the equity market, our security selection
discipline has led us to issues across market sectors. Broadly speaking,
however, we believe that traditional, higher quality companies offer the most
compelling prospects.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We believe that the inclusion of convertible securities in the Fund will
continue to benefit shareholders. As we noted, convertible securities tend to
benefit from rising equity markets and volatility. (Higher volatility increases
the value of the bond&#146;s conversion feature.) Although valuations have improved,
our research shows that the convertible market still offers attractively valued
securities. We remain most interested in convertibles that offer a higher
degree of equity sensitivity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Given that the U.S. economy is slowing, we believe the most speculative
high-yield securities merit a highly selective approach. However, the health of
the global economy should continue to provide support for financially sound
high-yield issuers. Through our rigorous individual security research, we have
continued to find compelling high-yield opportunities throughout the credit
quality spectrum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In closing, we remain very excited about the prospects of the global economy. Companies all over
the world are contributing to an unprecedented period of progress, innovation and productivity.
Through its global approach, we believe the Fund is well positioned to participate in these
opportunities.
</DIV>
<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt; margin-left: 7pt; text-indent: -7pt"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP> The MSCI World Index (U.S. Dollars) is a market capitalization
weighted index composed of companies representative of the market structure of
developed market countries in North America, Europe and the Asia/Pacific region.
Source: Lipper Analytical Services.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Team Interview

</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Schedule of Investments
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>APRIL 30, 2007 (UNAUDITED)</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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&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="center" colspan="2"><B>PRINCIPAL</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2"><B>AMOUNT</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="11" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="7" align="left"><B>CORPORATE BONDS (40.5%)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Discretionary (18.1%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">$</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Asbury Automotive Group, Inc.*<br>
7.625%, 03/15/17</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">1,010,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,250,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Beazer Homes USA, Inc.&#060;&#062;<br>
8.375%, 04/15/12</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,244,375</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,060,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">DIRECTV Financing Company, Inc.&#060;&#062;<br>
8.375%, 03/15/13</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,183,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Expedia, Inc.<br>
7.456%, 08/15/18</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,050,551</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,800,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">GameStop Corp.<br>
8.000%, 10/01/12</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,928,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">General Motors Corp.^<br>
7.200%, 01/15/11</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">957,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,875,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Goodyear Tire &#038; Rubber Company^<br>
7.857%, 08/15/11</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,971,094</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Hanes Brands, Inc.*^&#135;<br>
8.735%, 12/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,065,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Idearc, Inc.*<br>
8.000%, 11/15/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,095,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">440,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Jarden Corp.<br>
7.500%, 05/01/17</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">452,650</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Liberty Media Corp.^<br>
8.250%, 02/01/30</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,014,896</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Mandalay Resort Group^<BR>
7.625%, 07/15/13</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,010,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,325,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">NCL Holding, ASA&#060;&#062;<br>
10.625%, 07/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,325,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Royal Caribbean Cruises, Ltd.<br>
7.500%, 10/15/27</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,990,510</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Service Corporation International*<br>
7.500%, 04/01/27</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,005,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">825,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Warner Music Group<br>
7.375%, 04/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">796,125</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">26,099,551</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Staples (2.5%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Del Monte Foods Company&#060;&#062;<br>
8.625%, 12/15/12<br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,582,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Pilgrim&#146;s Pride Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">8.375%, 05/01/17^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,526,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">7.625%, 05/01/15</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">508,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,617,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Energy (2.3%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Giant Industries, Inc.<br>
8.000%, 05/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,050,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,300,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Hanover Compressor Company&#060;&#062;<br>
9.000%, 06/01/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,410,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">750,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Petr&#243;leo Brasileiro, SA<br>
8.375%, 12/10/18</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">907,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,368,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Financials (0.4%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left"></TD>
    <TD valign="top" align="right">500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">E*TRADE Financial Corp.<br>
7.875%, 12/01/15</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"></TD>
    <TD align="right">541,875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Health Care (2.1%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,800,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">HCA, Inc.*&#060;&#062;<br>
9.250%, 11/15/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,966,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Tenet Healthcare Corp.&#060;&#062;<br>
9.250%, 02/01/15</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,005,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,971,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Industrials (1.7%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,800,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">H&#038;E Equipment Service, Inc.&#060;&#062;<br>
8.375%, 07/15/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,962,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">500,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Sequa Corp.<br>
8.875%, 04/01/08</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">516,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,478,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Information Technology (4.9%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">900,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Avago Technologies^<br>
11.875%, 12/01/15</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,032,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Freescale Semiconductor, Inc.*<br>
8.875%, 12/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,012,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">iPayment, Inc.<br>
9.750%, 05/15/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,046,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,700,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">SunGard Data Systems, Inc.&#060;&#062;<br>
9.125%, 08/15/13</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,909,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,000,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Materials (3.0%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">900,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Ineos Group Holdings, PLC*<br>
7.875%, 02/15/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,163,705</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Mosaic Company*^<br>
7.625%, 12/01/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,145,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Polyone Corp.^<br>
8.875%, 05/01/12</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,020,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,328,705</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B><I>Telecommunication Services (3.7%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">900,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Citizens Communications Company&#060;&#062;<br>
9.000%, 08/15/31</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">992,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Leap Wireless International, Inc.*^<br>
9.375%, 11/01/14</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,072,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,250,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Sprint Nextel Corp.&#060;&#062;<br>
11.000%, 07/31/10</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,396,612</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">750,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Windstream Corp.<br>
8.625%, 08/01/16</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">826,875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,288,237</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying Notes to Schedule of Investments.
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Schedule of Investments &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Schedule of Investments
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>APRIL 30, 2007 (UNAUDITED)</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>PRINCIPAL</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>AMOUNT</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>VALUE</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="11" nowrap valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Utilities (1.8%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top">$</TD>
    <TD align="right" valign="top">750,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Edison International<br>
7.730%, 06/15/09
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">$</TD>
    <TD align="right" valign="top">791,250</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,600,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">PSEG Energy Holdings, Inc.&#060;&#062;<br>
10.000%, 10/01/09
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,752,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">2,543,250</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>TOTAL CORPORATE BONDS</B><br>
(Cost $56,495,495)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;58,237,618</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" valign="top" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" nowrap valign="top" align="left"><B>CONVERTIBLE BONDS (14.1%)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Discretionary (8.1%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,500,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">General Motors Corp.&#060;&#062;<br>
6.250%, 07/15/33
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,379,400</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,100,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Interpublic Group of Companies, Inc.*&#135;<br>
5.705%, 06/15/09
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,377,263</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,500,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Intralot SA<br>
2.250%, 12/20/13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">2,215,849</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,700,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GBP
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Punch Taverns Redwood Jersey Company Ltd.<br>
5.000%, 12/14/10
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">4,528,867</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">14,000,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ZAR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Steinhoff International Holdings, Ltd.<br>
5.700%, 07/31/13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">2,161,715</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">11,663,094</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Health Care (1.3%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,700,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Wyeth&#135;&#060;&#062;<br>
4.877%, 01/15/24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,885,810</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Industrials (1.1%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,175,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Quanta Services, Inc.*&#060;&#062;<br>
3.750%, 04/30/26
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,633,250</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Information Technology (1.6%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,500,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Intel Corp.^&#060;&#062;<br>
2.950%, 12/15/35
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">2,287,500</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Utilities (2.0%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,550,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">International Power, PLC<br>
3.250%, 07/20/13
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">2,848,521</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>TOTAL CONVERTIBLE BONDS</B><br>
(Cost $18,867,589)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">20,318,175</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2"><B>NUMBER OF</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>SHARES</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="background: #cceeff">
    <TD colspan="7" nowrap valign="top" align="left"><B>CONVERTIBLE PREFERRED STOCKS (10.0%)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Discretionary (2.2%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">90,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Ford Motor Company Capital Trust II&#060;&#062;<br>
6.500%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="bottom"></TD>
    <TD align="right" valign="bottom">3,222,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Financials (4.3%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">550</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Fortis Insurance, N.V. (Assurant, Inc.)*<FONT style="font-family: Symbol">&#165;</FONT><br>
7.750%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">800,465</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">32,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">MetLife, Inc.<br>
6.375%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,052,480</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4,700</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CHF
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Swiss Re<br>
6.000%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">4,352,953</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">6,205,898</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 1px solid #000000" colspan="2">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Industrials (0.8%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">250,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GBP
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">BAE Systems, PLC<br>
7.750%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,084,778</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Materials (2.7%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">450</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CHF
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Givaudan SA<br>
5.375%
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">3,818,056</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>TOTAL CONVERTIBLE PREFERRED STOCKS</B><br>
(Cost $13,190,190)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">14,330,732</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="7" nowrap valign="top" align="left"><B>COMMON STOCKS (77.0%)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Discretionary (7.0%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">20,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Carnival Corp.&#060;&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">977,800</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">135,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">HKD
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Esprit Holdings, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">1,636,170</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">53,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SEK
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Hennes &#038; Mauritz AB
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">3,503,696</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Honda Motor Company, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,717,309</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">20,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Industria de Diseno Textil, SA
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,230,380</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">20,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nike, Inc.^&#060;&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,077,200</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">10,142,555</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>Consumer Staples (13.7%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">100,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GBP
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">British American Tobacco, PLC
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,095,084</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">40,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Coca-Cola Company&#060;&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,087,600</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">600,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">MXN
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Grupo Modelo, S.A. de C.V.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">3,092,614</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">30,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Heineken, NV
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,605,888</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">InBev, NV
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,870,857</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">7,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CHF
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Nestle Holdings, Inc.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,771,079</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">40,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Reynolds American, Inc.&#060;&#062;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2,570,400</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">375,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">MXN
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Wal-Mart de Mexico, SA de CV
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,470,635</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">50,000</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Woolworths, Ltd.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,171,066</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD  colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">19,735,223</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD nowrap align="right" 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 valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying Notes to Schedule of Investments.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
10&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Schedule of Investments

</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">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule of Investments
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APRIL 30, 2007 (UNAUDITED)</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="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="64%">&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="center" colspan="2"><B>NUMBER OF</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>SHARES</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Energy (5.7%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chevron Corp.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">2,333,700</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">ENI S.p.A.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">994,913</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">50,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Motor Oil (Hellas) Corinth Refineries, SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,426,487</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">31,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">PetroChina Company, Ltd.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,476,340</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,231,440</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Financials (18.8%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">105,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Australian Stock Exchange, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,159,612</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">19,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CHF</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Credit Suisse Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,491,173</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">275,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Daiwa Securities Group, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,062,946</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">27,600</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">EFG Eurobank Ergasias</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,148,488</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Goldman Sachs Group, Inc.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,530,270</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">40,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">JPMorgan Chase &#038; Company&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,084,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">43,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Macquarie Bank, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,081,277</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">48,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Piraeus Bank, SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,739,423</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">170,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">QBE Insurance Group, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,311,067</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">924,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SGD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Singapore Exchange, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,429,207</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,037,463</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Health Care (8.5%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Alcon, Inc.^</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,349,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">43,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Astellas Pharma, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,881,018</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">21,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">CSL, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,512,668</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">21,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Johnson &#038; Johnson&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,348,620</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">60,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Merck &#038; Company, Inc.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,086,400</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">72,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pfizer, Inc.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,905,120</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">CHF</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Roche Holding, AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,129,843</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,212,969</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Industrials (1.8%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">90,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">AUD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Leighton Holdings, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,590,573</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Information Technology (17.5%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">37,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Canon, Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,075,860</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">47,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">HOYA Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,444,268</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">90,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Infosys Technologies, Ltd.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,711,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">68,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Microsoft Corp.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,035,920</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">13,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nintendo Company, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,060,848</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">190,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nokia Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,792,945</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">175,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">ZAR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Reunert, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,985,695</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">20,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">EUR</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">SAP, AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">962,435</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">185,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">JPY</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Toshiba Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,377,576</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">240,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">HKD</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vtech Holdings, Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,807,195</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,254,242</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Telecommunication Services (3.1%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">38,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">America Movil, S.A. de C.V.&#060;&#062;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left"></TD>
    <TD align="right">1,996,140</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">400,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GBP</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">BT Group, PLC</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,516,166</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,512,306</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Utilities (0.9%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">45,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">GBP</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Scottish &#038; Southern Energy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,345,258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL COMMON STOCKS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">(Cost $88,064,724)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">111,062,029</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" valign="top" align="left"><B>WARRANTS (0.3%)</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Consumer Discretionary (0.3%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">36,362</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Expedia, Inc.#</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">05/07/12, Strike $24.46</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">112,493</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">36,362</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">IAC/InterActiveCorp#</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">05/07/12, Strike $30.54</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">269,304</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL WARRANTS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">(Cost $302,350)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">381,797</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <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>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2"><B>NUMBER OF</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>CONTRACTS</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left"><B>PUT OPTIONS (0.2%)</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Financials (0.2%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">SPDR Trust Series&nbsp;1#</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Put, 12/22/07, Strike $137.00</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">237,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">700</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Put, 06/16/07, Strike $131.00</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px"><B>TOTAL PUT OPTIONS</B><br>
(Cost $485,100)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">253,250</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <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>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="2"><B>PRINCIPAL</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000"><B>AMOUNT</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left"><B>SHORT-TERM INVESTMENT (0.4%)</B><BR></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B><I>Commercial Paper (0.4%)</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">$&nbsp;</TD>
    <TD valign="top" align="right">635,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Citigroup, Inc. <br>
5.250%, 05/01/07<br>
(Cost $635,000)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">635,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</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="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <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>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="2"><B>NUMBER OF</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" colspan="2" style="border-bottom: 1px solid #000000"><B>SHARES</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="9" align="left"><B>INVESTMENTS OF CASH COLLATERAL FOR SECURITIES ON LOAN (10.1%)</B><BR></TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">14,539,671</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:0px; text-indent:-0px">Bank of New York Institutional Cash Reserve Fund
5.384%<br>
(Cost $14,539,671)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,539,671</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left"><DIV style="margin-left:15px; text-indent:-0px"><B>TOTAL INVESTMENTS (152.6%)</B></div></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5" align="left"><DIV style="margin-left:15px; text-indent:-0px">(Cost $192,580,119)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">219,758,272</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">See accompanying Notes to Schedule of Investments.

</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="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Schedule of Investments &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">11</TD>
    <TD nowrap valign="bottom">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Schedule of Investments
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>APRIL 30, 2007 (UNAUDITED)</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="12%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="62%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>NUMBER OF</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>CONTRACTS</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>VALUE</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left"><B>WRITTEN OPTIONS (-2.7%)</B></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 align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><I>Financials (-2.7%)</I></B></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 align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">iShares MSCI EAFE Index Fund#</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 align="right"><DIV style="margin-left:15px; text-indent:-15px">3,275</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 09/22/07, Strike  $76.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">$</TD>
    <TD align="right" valign="top">(2,030,500</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">2,000</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 06/16/07, Strike  $75.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(1,040,000</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">SPDR Trust Series 1#</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 align="right"><DIV style="margin-left:15px; text-indent:-15px">500</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 06/16/07, Strike  $145.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(275,000</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">450</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 06/16/07, Strike  $146.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(211,500</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">185</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 09/22/07, Strike  $143.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(181,300</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR valign="bottom">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">115</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Call, 09/22/07, Strike  $144.00</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(103,500</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></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>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>TOTAL WRITTEN OPTIONS</B></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 align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Premium  $1,811,244)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(3,841,800</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" valign="top" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">PAYABLE UPON RETURN OF SECURITIES ON LOAN (-10.1%)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(14,539,671</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></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>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left">OTHER ASSETS, LESS LIABILITIES (1.2%)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">1,653,036</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></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>
</TR>
<TR valign="bottom">
    <TD colspan="3" align="left">PREFERRED SHARES AT LIQUIDATION VALUE INCLUDING
DIVIDENDS PAYABLE (-41.0%)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">(59,050,147</TD>
    <TD nowrap valign="top">)</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></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>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="3" align="left"><B>NET ASSETS APPLICABLE TO COMMON
SHAREHOLDERS (100.0%)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$</TD>
    <TD align="right" valign="top">143,979,690</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="right"><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" valign="top" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOTES TO SCHEDULE OF INVESTMENTS</B></DIV>

<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">
Note: Market Value for Securities denominated in
foreign currencies are shown in U.S. dollars.
</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">*</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>144A securities are those that are exempt from
registration under Rule&nbsp;144A of the Securities Act of
1933, as amended. These securities are generally
issued to qualified institutional buyers (&#147;QIBs&#148;),
such as the Fund. Any resale of these securities must
generally be effected through a sale that is exempt
from registration (e.g. a sale to another QIB), or the
security must be registered for public sale. At April
30, 2007, the market value of 144A securities that
were not subject to mandatory issuer registration
obligations is $16,712,932 or 11.6% of net assets.</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">^ &nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Security, or portion of security, is on loan.
</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"># &nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Non-income producing security.

</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">&#135;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> Variable rate or step bond security. The rate
shown is the rate in effect at April&nbsp;30, 2007.</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">&#060;&#062;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD> Security position is held in a segregated account
as collateral for written options aggregating a total
market value of $61,423,825.</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 style="font-family: Symbol">&#165;</FONT> </TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Securities exchangeable or convertible into
securities of an entity different than the issuer.
Such entity is identified in the parenthetical.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>FOREIGN CURRENCY ABBREVIATIONS</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="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">AUD
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Australian Dollar</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">CHF
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Swiss Franc</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">EUR
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">European Monetary Unit</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">GBP
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">British Pound Sterling</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">HKD
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Hong Kong Dollar</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">JPY
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Japanese Yen</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">MXN
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mexican Peso</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SEK
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Swedish Krona</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">SGD
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Singapore Dollar</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">ZAR
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">South African Rand</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying Notes to Schedule of Investments.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">12
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule of Investments</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



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


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Schedule of Investments
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>APRIL 30, 2007 (UNAUDITED)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>COUNTRY 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="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Country</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>% of Portfolio</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">United States</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">42.1</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Australia</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Japan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">United Kingdom</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Switzerland</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mexico</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Greece</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bermuda</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Finland</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.4</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">India</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.3</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Singapore</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.2</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">South Africa</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.1</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sweden</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">China</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.7</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Liberia</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.0</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Belgium</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.9</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Netherlands</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.8</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Spain</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.6</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Italy</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Germany</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Brazil</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.5</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Totals:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">100.0</TD>
    <TD nowrap>%</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Country allocations are classified according to country of risk and are based on the percentage
of portfolio and may vary over time.
</DIV>
<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying Notes to Financial Statements.
</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="50%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Schedule of Investments&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">13</TD>
    <TD nowrap valign="bottom">&nbsp;</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Statement of Assets and Liabilities
</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>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>April 30, 2007 (unaudited)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investments, at value<SUP style="font-size: 85%; vertical-align: text-top">*</sup> (cost $192,580,119)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">219,758,272</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cash with custodian (interest bearing)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,656</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Foreign currency (cost $128,776)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128,487</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Receivable for investments sold</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">98,897</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accrued interest and dividends receivable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,963,303</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Prepaid expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,184</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,721</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Total assets</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">221,985,520</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>LIABILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Payables:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Cash collateral for securities on loan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,539,671</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Options written, at value (premium $1,811,244)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,841,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments purchased</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">330,926</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Affiliates:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Investment advisory fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">165,918</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Deferred compensation to Trustees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,721</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Financial accounting fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,880</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Trustee fees and officer compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">276</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounts payable and accrued liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">62,491</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Total liabilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,955,683</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>PREFERRED SHARES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">$25,000 liquidation value per share applicable to 2,360 shares, including dividends payable</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">59,050,147</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">143,979,690</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMPOSITION OF NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common stock, no par value, unlimited shares authorized, 8,006,981 shares issued and outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">113,591,761</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Undistributed net investment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(1,579,714</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated net realized gain (loss)&nbsp;on investments, written options, and foreign currency transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,813,258</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net unrealized appreciation (depreciation)&nbsp;on investments, written options, and foreign currency translations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">      25,154,385</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">143,979,690</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net asset value per common share based on 8,006,981 shares issued and outstanding</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">17.98</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 6pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD>*Including securities on loan with a value of $13,950,870.</TD>
</TR>

</TABLE>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying Notes to Financial Statements.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">14
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statement of Assets and Liabilities</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">


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Statement of Operations
</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Six Months Ended April 30, 2007 (unaudited)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>INVESTMENT INCOME</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Interest</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,062,199</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dividends (net of foreign taxes
withheld of $28,519)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,829,684</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Securities lending income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,550</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total investment income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4,903,433</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>EXPENSES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investment advisory fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">973,492</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Financial accounting fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11,015</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Auction agent and rating agency fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84,562</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Custodian fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25,273</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Printing and mailing fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,392</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Audit and legal fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,957</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Transfer agent fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,666</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Registration fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,365</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Trustees&#146; fees and officer
compensation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10,356</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accounting fees</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">5,136</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Investor support services</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,085</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12,350</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,191,649</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Less earnings credits</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,832</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Net expenses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,185,817</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">NET
INVESTMENT INCOME (LOSS)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,717,616</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>REALIZED AND UNREALIZED GAIN (LOSS)&nbsp;FROM INVESTMENTS, WRITTEN OPTIONS,
AND FOREIGN CURRENCY</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Net realized gain (loss)&nbsp;from:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,052,795</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Written options</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,132,833</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign currency transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">54,606</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Change in net unrealized appreciation/depreciation on:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,796,349</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Written options</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(228,986</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Foreign currency translations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,756</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">NET REALIZED AND UNREALIZED GAIN (LOSS)&nbsp;FROM INVESTMENTS, WRITTEN
OPTIONS, AND FOREIGN CURRENCY</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,543,687</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">NET INCREASE (DECREASE)&nbsp;IN NET ASSETS RESULTING FROM OPERATIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,261,303</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>DISTRIBUTIONS TO PREFERRED SHAREHOLDERS FROM</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net investment income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,484,465</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital gains</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21,448</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">NET INCREASE (DECREASE)&nbsp;IN NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS
RESULTING FROM OPERATIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,755,390</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">See accompanying Notes to Financial Statements.

</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Statement of Operations&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15
</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Statements of Changes in Net Assets
</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Six Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Year Ended</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">April 30, 2007</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">October 31,</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">(unaudited)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">2006</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>OPERATIONS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net investment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">3,717,616</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,878,195</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net realized gain (loss)&nbsp;from investments, written options, and foreign currency transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,974,568</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,569,858</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Change in net unrealized appreciation/depreciation on investments, written options, and foreign currency translations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,569,119</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,585,266</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dividends to preferred shareholders from:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,484,465</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,331,114</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capital gains</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(21,448</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net increase (decrease)&nbsp;in net assets applicable to common shareholders resulting from operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,755,390</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">23,702,205</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>DISTRIBUTIONS TO COMMON SHAREHOLDERS FROM</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net investment income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,294,149</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5,173,457</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital gains</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(69,661</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,532,399</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net decrease in net assets from distributions to common shareholders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(4,363,810</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(6,705,856</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>CAPITAL STOCK TRANSACTIONS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Offering costs on preferred shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(847,169</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net increase (decrease)&nbsp;in net assets from capital stock transactions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(847,169</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">TOTAL INCREASE (DECREASE)&nbsp;IN NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,391,580</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,149,180</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">130,588,110</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,438,930</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">End of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">143,979,690</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">130,588,110</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Undistributed net investment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">(1,579,714</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">481,284</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">See accompanying Notes to Financial Statements.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;Statements of Changes in Net Assets

</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOTE 1 &#150; ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Organization. </B>CALAMOS Global Total Return Fund (the &#147;Fund&#148;) was organized as a Delaware
statutory trust on March&nbsp;30, 2004 and is registered under the Investment Company Act of 1940 (the
&#147;1940 Act&#148;) as a diversified, closed-end management investment company. The Fund commenced
operations on October&nbsp;27, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund&#146;s investment objective is to provide total return through a combination of capital
appreciation and current income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Portfolio Valuation. </B>The valuation of the Fund&#146;s portfolio securities is in accordance
with policies and procedures adopted by and under the ultimate supervision of the Board of
Trustees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Portfolio securities that are traded on U.S. securities exchanges, except option securities, are
valued at the last current reported sales price at the time as of which the Fund determines its net
asset value (&#147;NAV&#148;). Securities traded in the over-the-counter (&#147;OTC&#148;) market and quoted on The
Nasdaq Stock Market are valued at the Nasdaq Official Closing Price (&#147;NOCP&#148;), as determined by
Nasdaq, or lacking a NOCP, at the last current reported sale price on Nasdaq at the time as of
which the Fund determines its NAV.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When a most recent last sale or closing price is not available, portfolio securities, other than
option securities, that are traded on a U.S. securities exchange and other securities traded in the
OTC market are valued at the mean between the most recent bid and asked quotations in accordance
with guidelines adopted by the Board of Trustees. Each option security traded on a U.S. securities
exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also
in accordance with guidelines
adopted by the Board of Trustees. Each OTC option that is not traded through the Options Clearing
Corporation is valued by the counterparty to such option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Trading in securities on European and Far Eastern securities exchanges and OTC markets is typically
completed at various times before the close of business on each day on which the New York Stock
Exchange (&#147;NYSE&#148;) is open. Each security trading on these exchanges or OTC markets is evaluated
utilizing a systematic fair valuation model provided by an independent pricing service approved by
the Board of Trustees. The valuation of each security that meets certain criteria in relation to
the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market
after the foreign markets close. Securities that do not meet the criteria, or that are principally
traded in other foreign markets, are valued as of the last current sale price at the time as of
which the Fund determines its NAV, or when reliable market prices or quotations are not readily
available, at the mean between the most recent bid and asked quotations as of the close of the
appropriate exchange or other designated time, in accordance with guidelines adopted by the Board
of Trustees. Trading of foreign securities may not take place on every NYSE business day. In
addition, trading may take place in various foreign markets on Saturdays or on other days when the
NYSE is not open and on which the Fund&#146;s NAV is not calculated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If the pricing committee determines that the valuation of a security in accordance with the methods
described above is not reflective of a fair value for such security, the security, including any
thinly-traded security, junk bond or synthetic convertible instrument, is valued at a fair value by
the pricing committee, under the ultimate supervision of the Board of Trustees, following the
guidelines and/or procedures adopted by the Board of Trustees.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund also may use fair value pricing, pursuant to Board of Trustees guidelines and under the
ultimate supervision of the Board of Trustees if the value of a foreign security it holds is
materially affected by events occurring before their valuation time but after the close of the
primary market or exchange on which the security is traded. Those procedures may utilize valuations
furnished by pricing services approved by the Board of Trustees, which may be based on market
transactions for comparable securities and various relationships between securities that are
generally recognized by institutional traders, a computerized matrix system, or appraisals derived
from information concerning the securities or similar securities received from recognized dealers
in those securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When fair value pricing of securities is employed, the prices of securities used by the Fund to
calculate its NAV may differ from market quotations or official closing prices.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Investment Transactions and Investment Income. </B>Short-term investment transactions are
recorded on a trade date basis. Long-term investment transactions are recorded on a trade date plus
one basis, except for fiscal quarter ends, which are recorded on trade date. Net realized gains and
losses from investment transactions are reported on an identified cost basis. Interest income is
recognized using the accrual method and includes accretion of original issue and market discount
and amortization of premium. Dividend income is recognized on the ex-dividend date, except that
certain dividends from foreign securities are recorded as soon as the information becomes
available.
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Notes to Financial Statements&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Foreign Currency Translation. </B>Values of investments and other assets and liabilities
denominated in foreign currencies are translated into U.S. dollars using a rate quoted by a major
bank or dealer in the particular currency market, as reported by a recognized quotation
dissemination service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund does not isolate that portion of the results of operations resulting from changes in
foreign exchange rates on investments from the fluctuations arising from changes in market prices
of securities held. Such fluctuations are included with the net realized and unrealized gain or
loss from investments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Reported net realized foreign currency gains or losses arise from disposition of foreign currency,
the difference in the foreign exchange rates between the trade and settlement dates on securities
transactions, and the difference between the amounts of dividends, interest and foreign withholding
taxes recorded on the ex-date or accrual date and the U.S. dollar equivalent of the amounts
actually received or paid. Net unrealized foreign exchange gains and losses arise from changes (due
to the changes in the exchange rate) in the value of foreign currency and other assets and
liabilities denominated in foreign currencies held at period end.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Option Transactions. </B>For hedging and investment purposes, the Fund may purchase or
write (sell)&nbsp;put and call options. One of the risks associated with purchasing an option is that
the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the
risk of loss of premium and change in market value should the counterparty not perform under the
contract. Put and call options purchased are accounted for in the same manner as portfolio
securities. The cost of securities acquired through the exercise of purchased call options is
increased by premiums paid. The proceeds from securities sold through the exercise of purchased put
options are decreased by the premiums paid.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">When the Fund writes an option, an amount equal to the premium received by the Fund is recorded as
a liability and is subsequently adjusted to the current value of the option written. Premiums
received from writing options that expire unexercised are treated by the Fund on the expiration
date as realized gains from written options. The difference between the premium and the amount paid
on effecting a closing purchase transaction, including brokerage commissions, is also treated as a
realized gain, or, if the premium is less than the amount paid for the closing purchase
transaction, as a realized loss. If a written call option is exercised, the premium is added to the
proceeds from the sale of the underlying security or currency in determining whether the Fund has
realized a gain or loss. If a written put option is exercised, the premium reduces the cost basis
of the securities purchased by the Fund. The Fund as writer of an option bears the market risk of
an unfavorable change in the price of the security underlying the written option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Use of Estimates. </B>The preparation of financial statements in conformity with U.S.
generally accepted accounting principles requires management to make estimates and assumptions that
affect the amounts reported in the financial statements and accompanying notes. Actual results may
differ from those estimates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Income Taxes. </B>No provision has been made for U.S. income taxes because the Fund&#146;s
policy is to continue to qualify as a regulated investment company under the Internal Revenue Code
of 1986, as amended (the &#147;Code&#148;), and distribute to shareholders substantially all of its taxable
income and net realized gains.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dividends and distributions paid to shareholders are recorded on the ex-dividend date. The amount
of dividends and distributions from net investment income and net realized capital gains is
determined in accordance with federal income tax regulations, which may differ from U.S. generally
accepted accounting principles. To the extent these &#147;book/tax&#148; differences are permanent in nature
such amounts are reclassified within the capital accounts based on their federal tax-basis
treatment. These differences are primarily due to differing treatments for contingent payment debt
instruments and methods of amortizing and accreting fixed income securities. Financial records are
not adjusted for temporary differences.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Indemnifications. </B>Under the Fund&#146;s organizational documents, its officers and trustees
are indemnified against certain liabilities incurred by them by reason of having been an officer or
trustee of the Fund. In addition, in the normal course of business, the Fund enters into contracts
that provide general indemnifications to other parties. The Fund&#146;s maximum exposure under these
arrangements is unknown as this would involve future claims that may be made against the Fund that
have not yet occurred. However, the Fund has not had prior claims or losses pursuant to these
contracts and expects the risk of loss to be remote.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;Notes to Financial Statements

</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">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>New Accounting Pronouncements. </B>On July&nbsp;13, 2006, the Financial Accounting Standards
Board (FASB)&nbsp;released FASB Interpretation No.&nbsp;48 <I>Accounting for Uncertainty in Income Taxes</I>
(FIN 48). FIN 48 provides guidance for how uncertain tax positions should be recognized,
measured, presented and disclosed in the financial statements. FIN 48 requires the evaluation of
tax positions taken in the course of preparing the Fund&#146;s tax returns to determine whether the tax
positions are &#147;more-likely-than-not&#148; of being sustained by the applicable tax authority. Tax
benefits of positions not deemed to meet the more-likely-than-not threshold would be recorded as a
tax expense in the current year. Adoption of FIN 48 is required for fiscal years beginning after
December&nbsp;15, 2006 and is to be applied to all open tax years as of the effective date. At this
time, management is evaluating the implications of FIN 48, and its impact on the financial
statements has not yet been determined.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, in September&nbsp;2006, the Statement of Financial Accounting Standards No.&nbsp;157,
<I>Fair Value Measurements </I>(SFAS 157), was issued and is effective for fiscal years
beginning after November&nbsp;15, 2007. SFAS 157 defines fair value, establishes a framework for
measuring fair value and expands disclosures about fair value measurements. Management is currently
evaluating the impact the adoption of SFAS 157 will have on the Fund&#146;s financial statements and
their disclosures, and its impact has not yet been determined.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 2 &#150; INVESTMENT ADVISER AND TRANSACTIONS WITH AFFILIATES OR CERTAIN OTHER PARTIES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to an investment advisory agreement with Calamos Advisors LLC (&#147;Calamos Advisors&#148;),
the Fund pays an annual fee, payable monthly, equal to 1.00% based on the average weekly managed
assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to a financial accounting services agreement, Calamos Advisors receives a fee payable
monthly at the annual rate of 0.0175% on the first $1&nbsp;billion of combined assets; 0.0150% on the
next $1&nbsp;billion of combined assets; and 0.0110% on combined assets above $2&nbsp;billion for financial
accounting services (for purposes of this calculation &#147;combined assets&#148; means the total of the
average daily managed net assets of Calamos Investment Trust, and Calamos Advisors Trust and the
average weekly managed net assets of Calamos Convertible and High Income Fund, Calamos Convertible
Opportunities and Income Fund, Calamos Strategic Total Return Fund and Calamos Global Total Return
Fund). Financial accounting services include, but are not limited to, the following: managing
expenses and expense payment processing; monitoring the calculation of expense accrual amounts;
calculating, tracking, and reporting tax adjustments on all assets, and monitoring trustee deferred
compensation plan accruals and valuations. The Fund pays its pro rata share of the financial
accounting services fee payable to Calamos Advisors based on the Fund&#146;s relative portion of
combined assets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund reimburses Calamos Advisors for a portion of compensation paid to the Fund&#146;s Chief
Compliance Officer. This compensation is reported as part of &#147;Trustees&#146; fees and officer
compensation&#148; expenses on the Statement of Operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Included in the statement of operations under the caption &#147;Earnings Credits&#148; is an expense offset
of $5,832, arising from credits on cash balances maintained on deposit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certain officers and trustees of the Fund are also officers and directors of Calamos Financial
Services LLC (&#147;CFS&#148;) and Calamos Advisors. All officers and affiliated trustees serve without
direct compensation from the Fund, except for the Chief Compliance Officer as described above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund has adopted a deferred compensation plan (the &#147;Plan&#148;). Under the Plan, a trustee who is
not an &#147;interested person&#148; (as defined in the 1940 Act) of the Fund and has elected to participate
in the Plan (a &#147;participating trustee&#148;) may defer receipt of all or a portion of his compensation
from the Fund. The deferred compensation payable to the participating trustee is credited to the
trustee&#146;s deferral account as of the business day such compensation would have been paid to the
participating trustee. The value of
amounts deferred for a participating trustee is determined by reference to the change in value of
Class&nbsp;I shares of one or more funds of Calamos Investment Trust designated by the participant. The
value of the account increases with contributions to the account or with increases in the value of
the measuring shares, and the value of the account decreases with withdrawals from the account or
with declines in the value of the measuring shares. Deferred compensation of $12,721 is included in
&#147;Other assets&#148; on the Statement of Assets and Liabilities at April&nbsp;30, 2007. The Fund&#146;s obligation
to make payments under the Plan is a general obligation of the Fund and is included in &#147;Payable for
deferred compensation to Trustees&#148; on the Statement of Assets and Liabilities at April&nbsp;30, 2007.
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Notes to Financial Statements &nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT </B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19
</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>NOTE 3 &#150; INVESTMENTS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Purchases and sales of investments, other than short-term investments for the six months ended
April&nbsp;30, 2007 were as follows:
</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Purchases</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">107,122,254</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Proceeds from sales</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,622,459</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following information is presented on a Federal income tax basis as of April&nbsp;30, 2007.
Differences between the cost basis under U.S. generally accepted accounting principles and Federal
income tax purposes are primarily due to timing differences.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">
The cost basis of investments for Federal income tax purposes at April&nbsp;30, 2007 was as follows:
</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">Cost basis of investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">192,859,496</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross unrealized appreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">24,751,293</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross unrealized depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,147,483</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net unrealized appreciation (depreciation)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">26,898,776</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 4 &#150; INCOME TAXES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The tax character of distributions for the period ended April&nbsp;30, 2007 will be determined at
the end of the Fund&#146;s current fiscal year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Distributions during the fiscal year ended October&nbsp;31, 2006 were characterized for Federal income
tax purposes as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Distributions paid from:</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ordinary income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">8,980,754</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Long-term capital gains</DIV></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">As of October&nbsp;31, 2006, the components of accumulated earnings/(loss) on a tax basis were as follows:
</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">Undistributed ordinary income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">666,274</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Undistributed capital gains</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">90,955</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total undistributed earnings</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">757,229</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Accumulated capital and other losses</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net unrealized gains/(losses)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,302,718</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total accumulated earnings/(losses)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,059,947</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Other</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(63,598</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Paid-in capital</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">113,591,761</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net assets applicable to common shareholders</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">130,588,110</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 5 &#150; COMMON SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are unlimited common shares of beneficial interest authorized and 8,006,981 shares
outstanding at April&nbsp;30, 2007. Calamos Advisors owned 7,629 of the outstanding shares April&nbsp;30,
2007. Transactions in common shares were as follows:
</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>For the six months Ended</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>For the Year Ended</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>April 30, 2007</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>October 31, 2006</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="9" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Beginning shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,006,981</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,006,981</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shares issued through reinvestment of distributions</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ending shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,006,981</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,006,981</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 3px double #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Total Return Fund<BR>
20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;Notes to Financial Statements

</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">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 6 &#150; FORWARD FOREIGN CURRENCY CONTRACTS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund may engage in portfolio hedging with respect to changes in currency exchange rates by
entering into forward foreign currency contracts to purchase or sell currencies. A forward foreign
currency contract is a commitment to purchase or sell a foreign currency at a future date at a
negotiated forward rate. Risks associated with such contracts include, among other things, movement
in the value of the foreign currency relative to the U.S. dollar and the ability of the
counterparty to perform. The net unrealized gain, if any, represents the credit risk to the Fund on
a forward foreign currency contract. The contracts are valued daily at forward exchange rates, and
an unrealized gain or loss is recorded. The Fund realizes a gain or loss when a position is closed
or upon settlement of the contracts. There were no open forward foreign currency contracts at April
30, 2007.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 7 &#150; SYNTHETIC CONVERTIBLE SECURITIES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund may establish a &#147;synthetic&#148; convertible instrument by combining separate securities
that possess the economic characteristics similar to a convertible security, i.e., fixed-income
securities (&#147;fixed-income component&#148;, which may be a convertible or non-convertible security) and
the right to acquire equity securities (&#147;convertible component&#148;). The fixed-income component is
achieved by investing in fixed-income securities such as bonds, preferred stocks or money market
instruments. The convertible component is achieved by investing in warrants or options to buy
common stock at a certain exercise price, or options on a stock index. In establishing a synthetic
instrument, the Fund may pool a basket of fixed-income securities and a basket of warrants or
options that produce the economic characteristics similar to a convertible security. Within each
basket of fixed-income securities and warrants or options, different companies may issue the
fixed-income and convertible components, which may be purchased separately and at different times.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund may also purchase synthetic convertible instruments created by other parties, typically
investment banks, including convertible structured notes. Convertible structured notes are
fixed-income debentures linked to equity. Convertible structured notes have the attributes of a
convertible security; however, the investment bank that issued the convertible note assumes the
credit risk associated with the investment, rather than the issuer of the underlying common stock
into which the note is convertible. Purchasing synthetic convertible securities may offer more
flexibility than purchasing a convertible security.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 8 &#150; WRITTEN OPTIONS TRANSACTIONS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Fund may engage in options transactions and in doing so achieve objectives similar to what
it would achieve through the sale or purchase of individual securities. Transactions in options
written during the six months ended April&nbsp;30, 2007 were as follows:
</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="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Premiums</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Contracts</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Received</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options outstanding at October&nbsp;31, 2006</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7,550</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,441,680</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options written</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,626,769</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options closed</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(13,476</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(2,028,654</TD>
    <TD nowrap>)</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options expired</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options exercised</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1,649</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(228,551</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" nowrap align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Options outstanding at April&nbsp;30, 2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">1,811,244</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 9 &#150; PREFERRED SHARES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">There are unlimited shares of Auction Rate Cumulative Preferred Shares (&#147;Preferred Shares&#148;)
authorized. The Preferred Shares have rights as determined by the Board of Trustees. The
2,360 Preferred Shares outstanding consist of one series, 2,360 shares of T. The Preferred Shares
have a liquidation value of $25,000 per share plus any accumulated but unpaid dividends, whether or
not declared.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dividends on the Preferred Shares are cumulative at a rate typically reset every seven or
twenty-eight days based on the results of an auction. Dividend rates ranged from 4.90% to 5.26% for
the six months ended April&nbsp;30, 2007. Under the 1940 Act, the Fund may not declare dividends or make
other distributions on common shares or purchase any such shares if, at the time of the
declaration, distribution or purchase, asset coverage with respect to the outstanding Preferred
Shares would be less than 200%.
</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="98%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Global Total Return Fund<br>
Notes to Financial Statements&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">21</TD>
    <TD nowrap valign="top">&nbsp;</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Notes to Financial Statements (unaudited)
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Preferred Shares are redeemable at the Fund&#146;s option, in whole or in part, on any dividend
payment date at $25,000 per share plus any accumulated but unpaid dividends. The Preferred Shares
are also subject to mandatory redemption at $25,000 per share plus any accumulated but unpaid
dividends, whether or not declared, if certain requirements relating to the composition of the
assets and liabilities of the Fund as set forth in the Statement of Preferences are not satisfied.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The holders of Preferred Shares have voting rights equal to the holders of common shares (one vote
per share) and will vote together with holders of common shares as a single class, except on
matters affecting only the holders of Preferred Shares or only the holders of common shares, when
the respective classes vote separately or alone.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>NOTE 10 &#150; SECURITIES LENDING</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For the six months ended April&nbsp;30, 2007, the Fund loaned certain of its securities to
broker-dealers and banks. Any such loan must be continuously secured by collateral in cash or cash
equivalents maintained on a current basis in an amount at least equal to the market value of the
securities loaned by the Fund. The Fund continues to receive the equivalent of the interest or
dividends paid by the issuer on the securities loaned and also receives an additional return that
may be in the form of a fixed fee or a percentage of the income earned on the collateral. The Fund
may pay reasonable fees to persons unaffiliated with the Fund for services in arranging these
loans. The Fund has the right to call the loan and obtain the securities loaned at any time on
notice of not more than five business days. The Fund does not have the right to vote the securities
during the existence of the loan but could call the loan in an attempt to permit voting of the
securities in certain circumstances. Upon return of the securities loaned, the cash or cash
equivalent collateral will be returned to the borrower. In the event of bankruptcy or other default
of the borrower, the Fund could experience both delays in liquidating the loan collateral or
recovering the loaned securities and losses, including (a)&nbsp;possible decline in the value of the
collateral or in the value of the securities loaned during the period while the Fund seeks to
enforce its rights thereto, (b)&nbsp;possible subnormal levels of income and lack of access to income
during this period, and (c)&nbsp;the expenses of enforcing its rights. In an effort to reduce these
risks, the Fund&#146;s securities lending agent monitors, and reports to Calamos Advisors on, the
creditworthiness of the firms to which the Fund lends securities. At April&nbsp;30, 2007, the Fund had
securities valued at $13,950,870 that were on loan to broker-dealers and banks and $14,539,671 in
cash or cash equivalent collateral.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">22
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund<br>
<B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to Financial Statements</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Financial Highlights
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Selected data for a common share outstanding throughout each period were as follows:</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The financial highlights table is intended to help you understand the Fund&#146;s financial
performance for the periods indicated below. Certain information reflects financial results for a
single Fund share. The total returns in the table represent the rate that an investor would have
earned (or lost) on an investment in the Fund (assuming reinvestment of all dividends and
distributions). The information for the period ended April&nbsp;30, 2007 is unaudited. Deloitte &#038; Touche
LLP, an independent registered public accounting firm, has audited the information for the fiscal
year ended October&nbsp;31, 2006 and the period ended October&nbsp;31, 2005.
</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="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">October 27,</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Six Months Ended</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">For the</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">2005*</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">April 30,</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Year Ended</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">through</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(unaudited)</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">October 31,</TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">October 31,</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2007</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2006</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>2005</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net asset value,beginning of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16.31</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">14.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">$</TD>
    <TD align="right">14.32</TD>
    <TD nowrap><SUP style="font-size: 85%; vertical-align: text-top">(a)</SUP></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Income from investment operations:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income (loss)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD nowrap> <SUP style="font-size: 85%; vertical-align: text-top">(b)</SUP></TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net realized and unrealized gain (loss)&nbsp;from investments,written
options and foreign currency</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.94</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Distributions to preferred shareholders from:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income (common share equivalent basis)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.18</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.29</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capital gains (common share equivalent basis)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD nowrap> <SUP style="font-size: 85%; vertical-align: text-top">(b)</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Total from investment operations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.97</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Less distributions to common shareholders from:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.54</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.65</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Capital gains</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.01</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.19</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Capital charge resulting from issuance of common and preferred
shares</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.11</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.03</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net asset value, end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17.98</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">16.31</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">14.29</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Market value, end of period</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17.60</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">15.62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">15.00</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total investment return based on<SUP style="font-size: 85%; vertical-align: text-top">(c)</SUP>:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net asset value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">13.86</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">20.77</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(0.24</TD>
    <TD nowrap>)%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Market value</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.38</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">10.19</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ratios and supplemental data:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net assets applicable to common shareholders, end of period (000&#146;s omitted)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">143,980</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">130,588</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">114,439</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Preferred shares,at redemption value ($25,000 per share liquidation preference) (000&#146;s omitted)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">59,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">59,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ratios to average net assets applicable to common shareholders:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net expenses<SUP style="font-size: 85%; vertical-align: text-top">(d)(e)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.74</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.70</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.33</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Gross expenses prior to waiver of expenses by the advisor and
earnings credits<SUP style="font-size: 85%; vertical-align: text-top">(d)(e)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.75</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.70</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.37</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income (loss)<SUP style="font-size: 85%; vertical-align: text-top">(d)(e)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.46</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.57</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1.33</TD>
    <TD nowrap>)%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Preferred share distributions<SUP style="font-size: 85%; vertical-align: text-top">(d)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">2.18</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">1.89</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Net investment income (loss),net of preferred share
distributions<SUP style="font-size: 85%; vertical-align: text-top">(d)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.28</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">3.68</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0.00</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Portfolio turnover rate</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">55</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">32</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">0</TD>
    <TD nowrap>%</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Average commission rate paid</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.0335</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">0.0258</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Asset coverage per preferred share,at end of period<SUP style="font-size: 85%; vertical-align: text-top">(f)</SUP></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">86,030</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">80,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Commencement of operations.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(a)</TD>
    <TD>&nbsp;</TD>
    <TD>Net of sales load of $0.675 on initial shares issued and beginning net asset value of $14.325.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(b)</TD>
    <TD>&nbsp;</TD>
    <TD>Amount equated to less than $0.005 per common share.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(c)</TD>
    <TD>&nbsp;</TD>
    <TD>Total investment return is calculated assuming a purchase of common shares on the opening of
the first day and a sale on the closing of the last day of the period reported. Dividends and
distributions are assumed, for purposes of this calculation, to be reinvested at prices obtained
under the Fund&#146;s dividend reinvestment plan. Total return is not annualized for periods less than one year. Brokerage commissions are not
reflected. NAV per share is determined by dividing the value of the Fund&#146;s portfolio securities,
cash and other assets, less all liabilities, by the total number of common shares outstanding.
The common share market price is the price the market is willing to pay for shares of the Fund
at a given time. Common share market price is influenced by a range of factors, including supply
and demand and market conditions.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(d)</TD>
    <TD>&nbsp;</TD>
    <TD>Annualized for periods less than one year.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(e)</TD>
    <TD>&nbsp;</TD>
    <TD>Does not reflect the effect of dividend payments to Preferred Shareholders.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(f)</TD>
    <TD>&nbsp;</TD>
    <TD>Calculated by subtracting the Fund&#146;s total liabilities (not including Preferred Shares) from
the Fund&#146;s total assets and dividing this by the number of Preferred Shares outstanding.</TD>
</TR>

</TABLE>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="98%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Global Total Return Fund<br>
Financial Highlights&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">23</TD>
    <TD nowrap valign="top">&nbsp;</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Report of Independent Registered Public Accounting Firm</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">To the Board of Trustees and Shareholders of <FONT style="font-variant: SMALL-CAPS">Calamos</FONT> Global Total Return Fund
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have reviewed the accompanying statement of assets and liabilities, including the schedule of
investments, of <FONT style="font-variant: SMALL-CAPS">Calamos</FONT> Global Total Return Fund (the &#147;Fund&#148;) as of April&nbsp;30, 2007, and
the related statements of operations and changes in net assets and the financial highlights for the
semi-annual period then ended. These interim financial statements and financial highlights are the
responsibility of the Fund&#146;s management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We conducted our review in accordance with standards of the Public Company Accounting Oversight
Board (United States). A review of interim financial information consists principally of applying
analytical procedures and making inquiries of persons responsible for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance with the standards
of the Public Company Accounting Oversight Board (United States), the objective of which is the
expression of an opinion regarding the financial statements and financial highlights taken as a
whole. Accordingly, we do not express such an opinion.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Based on our review, we are not aware of any material modifications that should be made to such
interim financial statements and financial highlights for them to be in conformity with accounting
principles generally accepted in the United States of America.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have previously audited, in accordance with standards of the Public Company Accounting Oversight
Board (United States), the statement of changes in net assets of the Fund for the year ended
October&nbsp;31, 2006 and the financial highlights for the year ended October&nbsp;31, 2006 and for the
period from October&nbsp;27, 2005 (commencement of operations) through October&nbsp;31, 2005; and in our
report dated December&nbsp;19, 2006, we expressed an unqualified opinion on such statement of changes in
net assets and financial highlights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="c16419c1641907.gif" alt="(DELOITTE &#038; TOUCHE LLP)"><BR>
Chicago, Illinois<BR>
June&nbsp;21, 2007

</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px">24
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund<br>
<B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Report of Independent Registered Public Accounting Firm</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">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">About Closed-End Funds
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>What is a Closed-End Fund?</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A closed-end fund is a publicly traded investment company that raises its
initial investment capital through the issuance of a fixed number of shares to
investors in a public offering. Shares of a closed-end fund are listed on a stock
exchange or traded in the over-the-counter market. Like all investment companies,
a closed-end fund is professionally managed and offers investors a unique
investment solution based on its investment objective approved by the fund&#146;s
Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Potential Advantages of Closed-End Fund Investing</B>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Defined Asset Pool Allows Efficient Portfolio Management</B>&#151;Although
closed-end fund shares trade actively on a securities exchange, this doesn&#146;t
affect the closed-end fund manager because there are no new investors buying
into or selling out of the fund&#146;s portfolio.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>More Flexibility in the Timing and Price of Trades</B>&#151;Investors can purchase
and sell shares of closed-end funds throughout the trading day, just like
the shares of other publicly traded securities.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Lower Expense Ratios</B>&#151;The expense ratios of closed-end funds are oftentimes
less than those of mutual funds. Over time, a lower expense ratio could
enhance investment performance.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Closed-End Structure Makes Sense for Less-Liquid Asset Classes</B>&#151;A closed-end
structure makes sense for investors considering less-liquid asset classes,
such as high-yield bonds or micro-cap stocks.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Ability to Put Leverage to Work</B>&#151;Closed-end funds may issue senior securities
(such as preferred stock or debentures) or borrow money to &#147;leverage&#148; their
investment positions.</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>No Minimum Investment Requirements</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>OPEN-END MUTUAL FUNDS VERSUS CLOSED-END FUNDS</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="49%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Open-End Fund</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 0px solid #000000"><B>Closed-End Fund</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Issues new shares on an ongoing basis
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Issues a fixed number of shares</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Issues equity shares
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Can issue senior securities such as preferred stock
and bonds</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sold at NAV plus any sales charge
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Price determined by the marketplace</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Sold through the fund&#146;s distributor
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Traded in the secondary market</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Fund redeems shares at NAV calculated at
the close of business day
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fund does not redeem shares</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="98%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Global Total Return Fund<br>
About Closed-End Funds&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>SEMIANNUAL REPORT</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="bottom">25</TD>
    <TD nowrap valign="top">&nbsp;</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">


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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Using Leverage to Enhance Total Return</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Closed-end funds can use leverage which utilizes borrowed
money in an attempt to increase the return on invested
capital. The Fund invests the borrowed assets into
securities, which we believe will provide a greater total
return to investors than the cost of the borrowing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Highlights on Leverage</B>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Leveraging
the portfolio allows the investment team to
potentially enhance the income and total returns of
the Fund.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>In
leveraged closed-end funds that invest in
interest-rate sensitive securities (high-quality
traditional fixed income), rising rates can
negatively impact a fund in two ways: increasing the
cost of leverage and decreasing the value of
securities.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>This
portfolio does not have notable sensitivity to rising
interest rates. The portfolio seeks to invest in
securities that should be more economically sensitive
and less interest rate-sensitive.</TD>
</TR>

</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">26
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Level Rate Distribution Policy
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Using a Level Rate Distribution Policy to Promote
Dependable Income and Total Return</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The goal of the level rate distribution policy is to
provide investors a predictable, though not assured, level
of cash flow, which can either serve as a stable income
stream or, through reinvestment, contribute significantly
to long-term total return.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We understand the importance that investors place on the
stability of dividends and their ability to contribute to
long-term total return, which is why we have instituted a
level rate distribution policy for the Fund. Under the
policy, monthly distributions paid may include net
investment income, net realized short-term capital gains
and, if necessary, return of capital. In addition, a
limited number of distributions per calendar year may
include net realized long-term capital gains. There is no
guarantee that the Fund will realize capital gains in any
given year. Distributions are subject to
re-characterization for tax purposes after the end of the
fiscal year. All shareholders with taxable accounts will
receive written notification regarding the components and
tax treatment for distributions via Form 1099-DIV.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Distributions from the Fund are generally subject to
Federal income taxes. For purposes of maintaining the
level rate distribution policy, the Fund may realize
short-term capital gains on securities that, if sold at a
later date, would have resulted in long-term capital
gains. Maintenance of a level rate distribution policy may
increase transaction and tax costs associated with the
Fund.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Automatic Dividend Reinvestment Plan
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Maximizing Investment with an Automatic Dividend
Reinvestment Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Automatic Dividend Reinvestment Plan offers a simple,
cost-efficient and convenient way to reinvest your
dividends and capital gains distributions in additional
shares of the Fund, allowing you to increase your
investment in the Fund.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Potential Benefits</B>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Compounded
Growth: </B>By automatically reinvesting with the Plan,
you gain the potential to allow your dividends and
capital gains to compound over time.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Potential
for Lower Commission Costs: </B>Additional shares are
purchased in large blocks, with brokerage commissions
shared among all plan participants. There is no cost
to enroll in the Plan.</TD>
</TR>

</TABLE>
</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"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Convenience: </B>After enrollment, the Plan is automatic
and includes detailed statements for participants.
Participants can terminate their enrollment at any
time.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For additional information about the Plan, please contact
the Plan Agent, The Bank of New York, at 800.432.8224 or
visit us on the web at www.calamos.com/cgo.aspx. If you
wish to participate in the Plan and your shares are held
in your own name, simply call the Plan Agent. If your
shares are not held in your name, please contact your
brokerage firm, bank, or other nominee to request that
they participate in the Plan on your behalf. If your
brokerage firm, bank, or other nominee is unable to
participate on your behalf, you may request that your
shares be re-registered in your own name.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We&#146;re pleased to provide our shareholders with the
additional benefit of the Fund&#146;s Dividend Reinvestment
Plan and hope that it may serve your financial plan.
</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="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="78%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="0%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
    <TD valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">Level Rate Distribution Policy and Automatic Dividend Reinvestment Plan &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL REPORT</B>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom">27</TD>
    <TD nowrap valign="bottom">&nbsp;</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">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The Calamos Investments Advantage
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calamos&#146; history is one of performing well for our clients through nearly 30&nbsp;years of advances and
declines in the market. We use proprietary risk-management strategies designed to control
volatility, and maintain a balance between risk and reward throughout a market cycle.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Disciplined Investment Philosophy and Process</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calamos Investments has developed a proprietary research
and monitoring process that goes far beyond traditional
security analysis. This process applies to each of our
investment strategies, with emphasis varying by strategy.
When combined with the company-specific research and
industry insights of our investment team, the goal is
nimble, dynamic management of a portfolio that allows us
to anticipate and adapt to changing market conditions. In
each of our investment strategies, from the most
conservative to the most aggressive, our goals include
maximizing return while controlling risk, protecting
principal during volatile markets, avoiding short-term
market timing, and maintaining a vigilant long-term
outlook.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Our approach to risk management includes continual
monitoring, adherence to our discipline, and a focus on
assuring a consistent risk profile during all phases of
the market cycle. Incorporating qualitative and
quantitative factors as well as a strong sell discipline,
this risk-control policy seeks to help preserve investors&#146;
capital over the long term.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Calamos Family of Funds benefits from our team&#146;s
decades of experience in the investment industry. We
follow a one-team, one-process approach that leverages the
expertise of more than 50 investment professionals, led by
John P. Calamos, Sr. and Nick P. Calamos, whose investment
industry experience dates back to 1970 and 1983,
respectively. Through the collective industry experience
and educational achievements of our research and portfolio
staff, we can respond to the challenges of the market with
innovative and timely ideas.
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Over the years, we have invested significant time and
resources in developing and refining sophisticated
analytical models that are the foundation of the firm&#146;s
research capabilities, which we apply in conjunction with
our assessment of broad themes. We believe evolving
domestic policies, the growing global economy, and new
technologies present long-term investment opportunities
for those who can detect them.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="98%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Global Total Return Fund</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">28
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>SEMIANNUAL REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Calamos Investments Advantage</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">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Calamos Closed-End Funds
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Intelligent Asset Allocation in Four Distinct Closed-End Funds</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Depending on which Calamos closed-end fund you currently own, you may want to consider one or more
of our other closed-end strategies to further diversify your investment portfolio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Seek the advice of your financial advisor, who can help you determine your financial goals, risk
tolerance, time horizon and income needs. To learn more, you can also visit our website at
www.calamos.com.
</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="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Fund Asset Allocation as of 4/30/07</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"><B>Fund Profile</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Calamos Convertible Opportunities and Income Fund (CHI)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Providing Enhanced Fixed Income Potential</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px"><IMG src="c16419c1641908.gif" alt="(PIE CHART)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Objective: </B>The Fund seeks total return through a
combination of capital appreciation and current income
by investing in a diversified portfolio of convertible
securities and below investment-grade (high-yield)
fixed-income securities.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Calamos Convertible and High Income Fund (CHY)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Providing Enhanced Fixed Income Potential</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px"><IMG src="c16419c1641909.gif" alt="(PIE CHART)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Objective: </B>The Fund seeks total return through a
combination of capital appreciation and current income
by investing in a diversified portfolio of convertible
securities and below investment-grade (high-yield)
fixed-income securities.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Calamos Strategic Total Return Fund (CSQ)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Providing Defensive Equity</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px"><IMG src="c16419c1641910.gif" alt="(PIE CHART)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Objective: </B>The Fund seeks total return through a
combination of capital appreciation and current income by
investing in a diversified portfolio of equity, convertible
and below investment-grade (high-yield) fixed-income
securities.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Calamos Global Total Return Fund (CGO)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Providing Defensive Global Equity</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:30px; text-indent:-0px"><IMG src="c16419c1641911.gif" alt="(PIE CHART)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Objective: </B>The Fund seeks total return through a
combination of capital appreciation and current income by
investing in a diversified portfolio of global equity,
global convertible and below investment-grade (high-yield)
fixed-income securities.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Global Total Return Fund &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Calamos Closed-End Funds&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>SEMIANNUAL
REPORT</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29
</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">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="c16419c1641912.gif" alt="(PICTURE)">
</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">







<!-- link2 "ITEM 2. CODE OF ETHICS" -->
<DIV align="left"><A NAME="001"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 2. CODE OF ETHICS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link2 "ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT" -->
<DIV align="left"><A NAME="002"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link2 "ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES" -->
<DIV align="left"><A NAME="003"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link2 "ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS" -->
<DIV align="left"><A NAME="004"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link2 "ITEM 6. SCHEDULE OF INVESTMENTS" -->
<DIV align="left"><A NAME="005"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 6. SCHEDULE OF INVESTMENTS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Included in the Report to Shareholders in Item&nbsp;1
</DIV>

<!-- link2 "ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES" -->
<DIV align="left"><A NAME="006"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT
COMPANIES.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable.
</DIV>

<!-- link2 "ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES" -->
<DIV align="left"><A NAME="007"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Not applicable
</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">



<!-- link2 "ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS" -->
<DIV align="left"><A NAME="008"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
</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="52%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(c) Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(d) Maximum</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(a)</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Shares (or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number (or</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Total</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(b)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Units)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Approximate</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Average</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Purchased as</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Dollar Value) of</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Price</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Part of</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Shares (or Units)</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Paid per</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Publicly</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>that May Yet Be</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Share</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Announced</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Purchased Under</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Units)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>(or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Plans or</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>the Plans or</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Period</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Purchased</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Unit)</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Programs</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Programs</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">November 1 to November&nbsp;30
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">December 1 to December&nbsp;31
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">January 1 to January&nbsp;31
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">February 1 to February&nbsp;28
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">March 1 to March&nbsp;31
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">April 1 to April&nbsp;30
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Total
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">N/A</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<!-- link2 "ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS" -->
<DIV align="left"><A NAME="009"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">No material changes.
</DIV>

<!-- link2 "ITEM 11. CONTROLS AND PROCEDURES" -->
<DIV align="left"><A NAME="010"></A></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">ITEM 11. CONTROLS AND PROCEDURES.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">a) The registrant&#146;s principal executive officer and principal financial officer have evaluated the
registrant&#146;s disclosure controls and procedures within 90&nbsp;days of this filing and have concluded
that the registrant&#146;s disclosure controls and procedures were effective, as of that date, in
ensuring that information required to be disclosed by the registrant in this Form N-CSR was
recorded, processed, summarized, and reported timely.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">b) There were no changes in the registrant&#146;s internal controls over financial reporting (as defined
in Rule&nbsp;30a-3(d) under the Investment Company Act of 1940) that occurred during the second fiscal
quarter of the period covered by this report that has materially affected, or is reasonably likely
to materially affect, the registrant&#146;s internal control over financial reporting.
</DIV>

<!-- link2 "ITEM 12. EXHIBITS" -->
<DIV align="left"><A NAME="011"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">ITEM 12. EXHIBITS.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)(2)(i) Certification of Principal Executive Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(a)(2)(ii) Certification of Principal Financial Officer.
</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="012"></A></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the registrant has duly caused this report
to be signed on its behalf by the undersigned, thereunto duly authorized.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Calamos Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ John P. Calamos, Sr.
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Name: John P. Calamos, Sr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Title: Principal Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Date: June&nbsp;25, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Patrick H. Dudasik
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Name: Patrick H. Dudasik</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Title: Principal Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Date: June&nbsp;25, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, this report has been signed by the following persons on behalf
of the registrant and in the capacities and on the dates
indicated.
</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="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="55%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Calamos Global Total Return Fund</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ John P. Calamos, Sr.
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Name: John P. Calamos, Sr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Title: Principal Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Date: June&nbsp;25, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Patrick H. Dudasik
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Name: Patrick H. Dudasik</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Title: Principal Financial Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left">Date: June&nbsp;25, 2007</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</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.CERT
<SEQUENCE>2
<FILENAME>c16419exv99wcert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wcert</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, John P. Calamos, Sr., certify that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1.&nbsp;I have reviewed this report on Form N-CSR of Calamos Global Total Return Fund;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this
report;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3.&nbsp;Based on my knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the financial statements are required to
include a statement of cash flows) of the registrant as of, and for,
the periods presented in this report;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4.&nbsp;The registrant&#146;s other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c) under the Investment Company Act of
1940) for the registrant and have:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this report is being
prepared;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">b) Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of a date within 90&nbsp;days prior to the filing date of this report based
on such evaluation; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">c) Disclosed in this report any change in the registrant&#146;s internal control over financial
reporting that occurred during the registrant&#146;s most recent fiscal half-year (the
registrant&#146;s second fiscal half-year in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the registrant&#146;s internal control
over financial reporting; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.&nbsp;The registrant&#146;s other certifying officer and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or
persons performing the equivalent functions):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">a) All significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to adversely affect
the registrant&#146;s ability to record, process, summarize, and report financial information;
and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">b) Any fraud, whether or not material, that involves management or other employees who have
a significant role in the registrant&#146;s internal control over financial reporting.
</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="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: June&nbsp;25, 2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ John P. Calamos, Sr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Principal Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</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: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER<BR>
CERTIFICATIONS
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, Patrick H. Dudasik, certify that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">1.&nbsp;I have reviewed this report on Form N-CSR of Calamos Global Total Return Fund;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2.&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or
omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this
report;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">3.&nbsp;Based on my knowledge, the financial statements, and other financial information included in
this report, fairly present in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the financial statements are required to
include a statement of cash flows) of the registrant as of, and for,
the periods presented in this report;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">4.&nbsp;The registrant&#146;s other certifying officer and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c) under the Investment Company Act of
1940) for the registrant and have:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">a) Designed such disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this report is being
prepared;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">b) Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of a date within 90&nbsp;days prior to the filing date of this report based
on such evaluation; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">c) Disclosed in this report any change in the registrant&#146;s internal control over financial
reporting that occurred during the registrant&#146;s most recent fiscal half-year (the
registrant&#146;s second fiscal half-year in the case of an annual report) that has materially
affected, or is reasonably likely to materially affect, the registrant&#146;s internal control
over financial reporting; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">5.&nbsp;The registrant&#146;s other certifying officer and I have disclosed to the registrant&#146;s auditors and
the audit committee of the registrant&#146;s board of directors (or
persons performing the
equivalent functions):
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">a) All significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant&#146;s ability to record, process, summarize, and report
financial information; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">b) Any fraud, whether or not material, that involves management or other employees who have
a significant role in the registrant&#146;s internal control over financial reporting.
</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="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: June&nbsp;25, 2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Patrick H. Dudasik</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Principal Financial Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</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-99.906CERT
<SEQUENCE>3
<FILENAME>c16419exv99w906cert.htm
<DESCRIPTION>906 CERTIFICATION
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w906cert</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SECTION 906 CERTIFICATION
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to 18 U.S.C. Section&nbsp;1350, each of the undersigned officers of Calamos Global Total Return
Fund (the &#147;Company&#148;), hereby certifies, to his knowledge, that the Company&#146;s Report on Form N-CSR
for the six months ended April&nbsp;30, 2007 (the &#147;Report&#148;) fully complies with the requirements of
Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and that the
information contained in the Report fairly presents, in all material respects, the financial
condition and results of operations of the 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="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="64%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date: June&nbsp;25, 2007</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ John P. Calamos, Sr.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: John P. Calamos, Sr.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title: Principal Executive Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Patrick H. Dudasik</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Name: Patrick H. Dudasik
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Title: Principal Financial Officer</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This certificate is furnished pursuant to the requirements of Form N-CSR and shall not be deemed
&#147;filed&#148; for purposes of section 18 of the Securities Exchange Act of 1934, or otherwise subject to
the liability of that section, and shall not be deemed to be incorporated by reference into any
filing under the Securities Act of 1933 or the Exchange Act of 1934.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A signed original of this certificate required by Section&nbsp;906 has been provided to Calamos Global
Total Return Fund and will be retained by Calamos Global Total Return Fund and furnished to the
Securities and Exchange Commission or staff upon request.
</DIV>


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


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>c16419c1641901.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641901.gif
M1TE&.#EAT`*D`^8``/___QU52H*KG3]L9CIO8A901:S'OG^=F;_.S-7CW@Y(
M/BMB5D!L9DE\;8.KG@=!.$%U9Q]33"1;4-_FY15.1)^ULFV=C4)Z:E^$?S-H
M7._R\@]'/R]?69>YK<#5SF.6A>KQ[E>)><_:V'BDE=_JYJ_!OX^II?3X]F^0
MC,O<UD]X<K;.QHRRI:'`M5R1?U""<V>9AV"4@F.6A&J;B5J0?FB:B%Z2@&67
MA6&5@VZ>C&R<BF:6A;/,PZ_)P$YY<76CD9*VJ&&/@EF+>Z6\MZS#O7FEEH>N
MH7&;CT=R:]SHXX&GFV2,@XNQH_;Y^&R<BWJ@E8ZJI&J3B(VRI82LGKK1R,37
MT#5G7G2BDEV&?5F/?0`[,P``````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````"'Y!```````
M+`````#0`J0#``?_@%F"@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GI^@
MH:*CI*6FIZBIJJNLK:ZOL+&RL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*R\S-
MSL_0T=+3U-76U]C9VMO<W=[?X.'BX^3EYN?HZ>KK[.WN[_#Q\O/T]?;W^/GZ
M^_S]_O\``PH<2+"@P8,($RI<R+"APX<0(TJ<2+&BQ8L8,VK<R+&CQX\@0XH<
M2;*DR9,H4ZI<R;*ERY<P8\J<2;.FS9LX<^K<R;.GSY]`@PH=2K2HT:-(DRI=
MRK2ITZ=0HTJ=2K6JU5$%LFK=RK6KUZ]@PXH=2[:LV;-HTZI=R[:MV[=P_^/*
MG4NWKMV[>//JW<L7K9:_@`,+'DRXL.'#B!,K7LRXL>/'D"-+GDRYLN7+F#-K
MWLRYL^?/H$.+'DVZM.G3J%.K7LVZM>O7L&/+GDV[MNW;N'/KWLV[M^_?P(,+
M'TZ\N/'CR),K7\Z\N?/GT*-+GTZ]NO7KV+-KW\Z]N_?OX,.+'T^^O/GSZ-.K
M7\^^O?OW\./+GT^_OOW[^//KW\^_O___``8HX(`$%FC@@0@FJ.""##;HX(,0
M1BCAA!16:.&%&&:HX88<=NCAAR"&*.*())9HXHDHIJCBBBRVZ.*+,,8HXXPT
MUFCCC3CFJ...//;HXX]`!BGDD$06:>212":IY/^23#;IY)-01BGEE%16:>65
M6&:IY99<=NGEEV"&*>:89)9IYIEHIJGFFFRVZ>:;<,8IYYQTUFGGG7CFJ>>>
M?/;IYY^`!BKHH(06:NBAB":JZ**,-NKHHY!&*NFDE%9JZ:689JKIIIQVZNFG
MH(8JZJBDEFKJJ:BFJNJJK+;JZJNPQBKKK+36:NNMN.:JZZZ\]NKKK\"N^4``
MQ!9K+`0$)*OLLLPN8.RS`3P0[+29&2L!M,92P!BVUCZ+K+(+4"ON;PLP2ZP$
MUP:@[;CLVC8LL=\V4&R[]-X60+(A)!M`O?S.EJR\`:0K;;\$KT9!``M``(&S
M`Q?L<&KX$K#OPQ2;=O#_MP$H4/'&H1&[0,($:,SQR)W=FV^X)*>LV<$-O)"Q
MRC!7=O#'!*`<\\V1+2"OLSCW[!@%R4(PL<]$(T;!Q\@6K?1A`2R\P+I+1PU8
MT_(V+'74"A#0@,U78UTN`5!WK335T8J-=;XBFSUVLF&KW3/"-;L]]L)ER]VS
M`@NX;+7=,"L00`9"\^WSPA*D+3C,%+RP@.&'JZPUXXV/K(#0$NP=.<=YMWTY
MQP$TT,#F*BL`..2@/WQT`Z277K`"#1"@NN00R/OZQG@'/GO%"6M^.[^3A[P[
MQ9[__C#KBPM?,-`$6&Y\NR$,O7R]B2^@_//3/B"![=33&WSV]#ZP]?3<_RI!
M_P;.AT\M`1GH;KZO#R0+_OJ[2B`[_-3F3O^TO=\_;>>IZX_K`SI[G_]JQ;KR
M#5!7"PC!`7U%O`7R"H"H<^"N)L<U"=[*?1;,%07(E\%<):M_'705!>87PEK=
MJX2VLA\*9Y4U":R05CI[(0M?X$(9P@J"-HP5_W+X*N\9D(>H`F`&@.BJA(&0
MB*)BG?J02*JX,5%5"1/@$SVUPRFBJGE61!7@LGBJSG'15%7\HJB\=T0Q8JJ!
M9A15!H:8QE"ML8VANAX<0<6Z,LY14DJ\HZ<DIL=.$:"&?=04"0.)J0024E.L
MD^(A&=6T16*J:8IT9*+"*$E)40![E904)C/Y*#)R<O]2(;#C)PLUR%$RRI.F
M?%0H4_FH4K(240_8Y"L1%<%9*LJ'MKRE+'-)J%WR,E"H_*6AL"A,0_FRF'T*
M)C(%I<!E#BJ1SA14(Z,9J``TDYI_@B8V_12P;?[IC][T$SC#N:?V_9"<=5HE
M.O.DS77>20'7=*>=O"=//(VSGG5R(C[I!`%1[M-,=?PGG6HI4#@!K:!RDH#K
M$`JG:S'T3;A\J)L6*E$V0;*B;))`!3%Z)CYR5$T-B.1'MQ30D9[IA"8]DT)3
M>B:"LG1,+GTIF`XJTS%YM*9AZB=.PS1"D>XT2GC[*9C>*%0O^:ZH7&(=4KND
MT:5RR95.K1($?!K5)$VSJE?_XB!6KQ32K5HIJ%ZMTDTQ>C!NM8Y9:$TK^KA5
M-Q[1$Y_O*M:WE"4T;OE3,&7%UER#EBT:E<N;]_K7LNZZFL`2(%_)VNB)CFK+
M=YE+7<SQ&[S^-:\1==64Y:IKNLXI'<DZR["<K5`W%^E9T*Z'KP$C%E4---8V
MOBL#6B,68<DS,X4Y:[8"NJP8[T6X:RVQ/N]R5NM":Z"53G%8Z&H:11.4V=3B
M%C^,Y2'+ZKK:`/FM=4*K+GW>*D.3Z9-#A_UN@%#:P6$A;;DB^AJZ?GN?J5K0
M;P18V',Q-"S8@LT_5_5?Y[9FHW*A;3_H#=^PXLNS'0VK`?*]SP/BF3V=)5=(
MYD46_W'5`UGNA4"Q1`HO?=095NW4KFKO.5J'O:,`=/&W/:T=\78<7+CU?$[%
MX#EP\="S`$#"&#P)C.YX8GIC$L>WQ>.A@(U['./`LA<[$"#R>7(\W^5X4<GF
M.5K-M*N<IT$9/29NLG&R=N7T9`VJU$EQE\D#,BT'A[MC1@]O)^QD#*>9/.@#
M\G3<^V;UR)C*OFEJG=ES/1TSYP$OV+-[*'ADXHA8T.T1G4Z=HUM$LR>VS@FP
MH]4S0NDM!P*%GO1X,J><2VHZ/M9D,V\D_>GU1.\X:"YU>ZPGWN#P6-7L29B;
M><-&6,<GOF9>#:9M+1\AOUHW)>;U?'J7Z]/\6MCK48#B?O\S.633!YZSIHVH
MG7V>\4V[-1^C]G9QK1OOX5G;),Z7;A`&[OJ@\39)+O=V%Y"!8I<LVNI6#^M(
M_9H7Q_O9RZ:-E>^]7?FY&S-<YK=](-!NV?A9X/"A0`@R/9KV(?P^,80-@Q\N
MGZ95SC7YI;A\`'CPT\!;X^PY\6H*#/+ZR._;E$EUR>4CNEJCYN,K7X\A4Q/P
MF)M;Y*:QM\W7?6S/5'CG-Q^R:'0.]/FT+WFEV771[2._:U,FV$N_S_=&X_*H
MTR?BH<FVU>T#SW\;9N);E\]?0;/OL-<G`XWF#,S-KAYB=H;>;'\/;%%>F!K'
M_3[RZXSU[GZ?%G*&Z'R?3ZLKH_7_P/<;"@<H`0(6S_@*'&``D`&\8S#@G0%$
M8#\8.$`%&-_X`U"^-)GG/`(<#_G(<>``"`"`ZE?/^M5/X/$;8(R<'Q.!"90>
M-`,X@.X?+QL$B$`U&U`!:#9P>]!$``6I;[WR58\`%5S>,QQ`P?)9CP#"#*`"
M`$``"J(6@0-H8/K@!X`(/I\8<D<&^R40S0%8?X#81$#USS_-`#0`FLR'9@,8
MF$#XI__ZV&_&^_N7?8,A?2*@>0#0?D6#?0$8?A-`?H<!=X<Q`*M7?)VQ?JN'
M@*^A@!AH&AAP@)Y1>P``&A:X@."W@9:A@`%8?8*!`*B'??IG@IB16C]7*RJ0
M?"0(?BJ(_Q@0:!@H^'LBR'ZP`8*JYW^F88'QIQD="`!'F!D<@(+@-P$B$(`5
M0(&280(XB`#?QWR"(8%:,'I>"(.8\2[(4E>S4@%9J'P3@``8,``#@`5/@`0#
ML'C+EX.'<6B-\7ZLMX3_!X09R'H.2!H*:`*=H7\>N!D<0(C*IP$(P(:61WQL
MB(73IP%4^!A)V'J+6'H<<'UIN(4AZ'LBL`&O5QKWTCIK]RDV:(EZV'6`<0"(
M*("*`7:(X82NZ!DC6(BM(8&L-P%Z&!JNMXN4,8)@^(O3-X6)<7W3%XR,H7P(
MX(N%P8*+"`#8-XFBP3+Z0G>-L@$ED(@5P(SMXW(#$(6SJ(-WQ?\!9[AZ?Z@9
MM8B,IB&+T,B!K%<!FK$!X!B.EF&%RDB$BK$![`@`@A@9M<B/E"A^*K!^ZD@:
M`:-08L8IV6B)PI<81/47&R!]='@8-:<8^YA^M,B'K(&+K4=_I5&+'HD9M:B+
M(HF&#?D8*M"*JE>0AK&0JD>2CY%[NK=]LZ$S"7DI_P@`,*D8R2(8&#"1#]@8
MX">-EI&.KK&/MB@:LLB2C"&$$W@93LE\1*D8$7"*.LF,AW&*4VD<1R-AUO@G
M*J!\3"D8[>0898<8E:A\/L@91LD:Y`A^^`@:5@D`<2D9TM=Z\&@9Y0@`&%D9
M+JEZ&L`!CO&6JO>)TW&0."<I49F4C?'_9(]!7HBADJV7D1?8&DXX`:TXEI5!
MF!I)&9()E)`ABR50EY&Q`?:X>GVY&!Q)C]-ADR3W*/^XC))10)"1;FC)>H'9
MBGFYAY6Y&GAX@2.)E9BQFKU8&:>9BY7QFR^I&8NYE9RX>J!)'4"38(VBG$-8
M&6!V&/`FC^^H!7>Y>J19&6VI&O\8`1O0>C0)&DB9GJ4YCY-)&;)XDIAAG:E9
MC*QGF-VA-3L(*/_HG(N1G851D801G%H0E9K9&..9&JV'@/\H&G.Y>L)XC)-!
MG`>*H*WGGX!QBA7Z'%F3`;,W*-SI>IF!+#XE>8&AFZN8B\()&0EZ&L<9F(!1
MCOWH&<3YG>TH_QFZV9F/X9X[R9RMN):*\9<3()A%AF!.1R?$>8Z485S_>1AI
MJ82`<9ZLQYZ7T:*E$:*JMYM=>)_A>1FK60&<29>1D993B)R2T7HSRAG'&8*,
M\8\]"AZ=TW%Z<HK121F.67Z<M:""T:#HJ*,?J:*!0:&?8916NA@7&I62P:>?
MH:?)V'IO6F2*XW5A$J9I6BTF2ABVZ9.X2:0GVIV94:BC(:.#X80PVAE.>'E2
M"IB<RAAD^A=:>7Z>^AE.J*6)89T`H`$;2AT15HIL0IP8"AGWPF8\9J"$\:0K
M:J&]>1K&.AC6J:27\9Y:X(146JN(")-I^:N"T7K.FAE/ZAAKJGHE</^L*W9A
M>D*<H=%S?T$L@_&DDTBL)9FLIL&H@T&GGD%]@0&MBU&+N[F:=8H8%QH:YNH8
M2)FKUH$\#(<F(QD:RD08=@@8EVD8:5FJ1>FGHA&QJQH8S<J6]NJPK%>IB%&.
M\9>JXM>EAK&:^/D98;JA`*B6VPJGY7*D8P*JFK&P@X%>OFH8(@L`TYJH%&M\
MF7D8[EF?E^&$#NB4CUH8K7JOK(>M?\&OHZ&AD!&'PRBNW$%@DDHE,KL9#?!;
MZ/6PAU&>5=JSG_&D%RL88=JRD6&#$OL73LB4(KNV6[IZ\JF:&QL:4!L9)N">
MKC>WYA$`^?8F63NSQU9X9XL8UNFQ_BBVGM'_BA.0&'\)I);!F4"IG"'II+&:
MHO!*M]#YM(J;&!OPH#J['JPFIV42N)I14H1Q34YXLH;!HU3[M9V[&3>+&+/K
MI74;&$1KN*VHA\K9KX7AM`X:NXF1DHFXL^9!/`?+);7HNW^G/@L5EJQ7MH21
MLA.;N79[NUF)O1&ZDH4!LI:[N82!KYI;F"1[&5C*F))AALJ'MN,Q.067)C;*
MIJ7A/;IC95X;I+A9O=Q+&AS0>GQ;&-!KCIAQMZ/:L8>QNX5QJHZ1LTP;M:WW
MNHA!O`\,']MS)K5;&F,G&`%PP;3[K]N+OI]!KXPAPI8AOAA;K;ZXO(9ANH/A
MP9\1L)EAE<Q;'D>7_[Q50KVHP:2``0&/*[!F.ADL?!D!K'K2:QB%6\(B:AC'
M2:L0.8]P&Z@_S!@_^X-)G!G8Z,+OT3M?J22G*+2D@3Z"$07ER+Z"D;%`++Q#
M&\6+<8J0.Z:*2[G%>KF#`<-MJL:<,<6:$:9,_!Z)^27]J1H9'+<O"<&"S)J.
M$<25P<&*\<<?7)`M&I7">8J$C,6R:\+ONISU46E;7"3GV\9)ES9H"AE'G+C6
MVQD]#!F,6QF4/!AABH\VNL<KN+0[RGI>C!FGS!G6B1_7PZM0(HL-'(81M*RA
M:<?(NK^@,<J3UWI%W*B#G!@)BL"WN7JP#+NK]\27@<.=8<GS,3Y"ER7$B?\`
MY0L:#6`%Z"D9BES'I;P9KAL943G#):N]A*&<,+G$BM&_X'N'C$O(BI'/@\IZ
M^U'#7B*+9.P9#T`$FSH9]_L8B#P9H2P9%NO0<LR#4ZH%6&K-X5O-RPRQ#?VI
M&VVJ_LP?6;.?4'*(N/F_H^&NDC'$`)#1U&S,GB',I5G.:2O+5(F<^LK,JM?`
M.0O"=HF*H*'-]]$YW5PE\0L``\V;S0R?7,JB:"P99CP9,-T86'JTA6&CK$C3
MB]S4@5J.MG<9\:L!)CV?0*U@`;0EDAG6BW%\CU&.0Q"Y_LO4Z8P9+WH9*!J3
M\&S$9UC7BY&TCR&+N"J>RC?-<IV_N76I4C*7[FS_?8;<TJKG=I-!PL7,TU")
MQY01U?D:T8B1DSGM&&,=BX%]QG@9&NU,(!:WR3M2E<J(UO%LCXE-T>@9`#M@
M9NRJT%I-V\5I&2@]PK5MJS?:&-X;&9+9U8,YEXU[S*UHT?W!<5>;(Z`XARP-
MD?EWSXK!K@LFTI%)S)E=VXXAJICQT(WAGD?-L0?M&`0<DWN9I>(:`>K;>B+P
MRXU!TK2<('T\)9)Y@;O8?8C=E*VH@EMCV'N]RMD-G;LWX`1.X$>MJ)@AKX;Z
MT8\1VK:=I4I]C,QXU7-H&6OXN_7MWDRWM5>R`9IMB8NGMY;(&/%+I,7BWY[K
MGJSKS#=8X?DHT]PZP?\M_\VPNGKZ#+Q`?-[5+'J0&(F"W1C)IXB,)^("O""*
MAB71W>++IYDD3&YW"AE/&MX?3H+NS,B:H=<L'M<=#.&08;3ZO(6@V^*+.,`M
MCK@(HHI7\J1B_JL7/#'JRM!:/>4+.,.CS1FG2-7SZH>2D7P:_JHGJ.0.3N8D
MJ.']07!8@G]AGH@'\-R"@>5:8)L-,-0S;N/H#.A:F!@EWAEZO.!/Z<8_CAA_
M^>F,07Q$#G[C]^79NW\-&,X(HE#+G2,#@`)33GJ,/A@$?K$494Y`/.!L7N"^
M_NN>IQ@RN7MC.^`#/>`HP.J&(9OF;.SQF'M(F:6PUQD_68(8@.H#`@&2WB>O
MB?^N6I)YNX?M8QKN'C)WA8)>:<=)M#DH1*=4KQ3IIDTF!G11K$1)?7)Q@J%G
MKT2N?_+F@C%XG^3JW(1A&<#+>C1"K\XEL608BS9+\VTG]`9/O&3N>I*I@Z%R
MJ>1O>D)<@?Q*HK/M;W(PB%%XMG1/$(\8-)M*.'0G.XCQ]7Y?Z:08]Q+O683P
M^;08^LY+'!8GU@V@IF3H<N(WC)'NL_20<#)M99E+'=\FUJT%8%4F]I><A$CH
M)&+S;]+T6F#TS?&3M8[;IJ'L&.O4E)%Z?^YY7<\BDY/P38+U6D"ZQK%^5,\8
M)E#<HV$"H@X8',""HJSW4$VPL?PCJ+LF;C\8[NX<<,__N:6Q>(TA@;G*^*]!
M]C^R8#:\)?[.&#35'(=/?!'0A&KX?`-PL9;7M*@W`$08`3^YB!L0`=\(`&Q(
MT9\?A\1(?*.WA'&(^A!I>7G?^4W[C>T]B:?'@H(9Z]`8^IF(Z+&G^IMW[4TK
M?5,8?Z=/^H'!^=OX^7^1B5$*^\7W^XO.RM]XB?YW?<`?J!S0?7</(BUG43!+
M\LIQ^!+8XSH)>5C(J1U(>38J`H(9`>Z9>Y,I@6,,"`@`@Q,#6EH1)8.#"!%:
M`P`B&HL3CHN+AYE:*).,6I<`!UJ"B@"&$Y>%GY>BB9<(F16=`*BPHP"'$8*+
M)8Z<B[::NXN&*)<:%9FTJ+B:_\[/T-'2T]35UM?8V=K;UAD+W.#AXN/DY>;G
MZ)D4&>`0`>GPX0>FCX,5CO/)&*&9"!H<*F@9@@1KGJA'CFYE@J0!!2)4&E1L
MTF"K`H!D6BQBJ'?QD,%^P9PA4*5E8[V#MQH.<'3/(P`3AR"A%,%/BZ*!`A'1
MM"7HD,42/OF)(&GR&0*4^RH=$@1S5:&B\:)*G4JU&@$)5;-JW<JU*S0"X!XT
M\*IU'DX`&PYM$&$+@*T(;K7,2ZB%YBVZ_9K5`WIH7U$$;35HTC"AGHBT6C;$
M71I26&%G,O,V?;;65N1#M#)Q(*S%!("B<'DVBX3XDP@MR*H=C06`[MK#J_"2
MG4V[MO\6`M]LZ][-VRM8<`I^]S9G]J0P6_-<&EKL\@"DBWA[QJQ9SY#'MB%[
M7L8<#'"T>1.@;A=D/1.&`^@G6*9.7:%T9:+EMD^^"ZI1E,R#+G\\O+]_<KC]
M)^"`!$X#@3@-O%/@-L5M-XHM^Q@BB"6@#"(*!C0!@`)B[VT'27D'%%3A(,;!
M!U(T$510BT0E*I2)+HSXL]Y!\XSHHHD*U5@A(BJZQ>)].&927'X+%EGD548F
MJ61MN873P`-+5M-@>]YIL5D%5V(FP@!<=IG0!AA,8E*'U'TH)"S[;-DEERU^
MTEUCSJ0(P#\MOI?11=95>=D^%:S)IIUN+H7+/";X65Z*&M#_"21WS@P)9Y20
MZA9@I)16:HZ"X2C0I*5"TN-@E;<4=V,T!`FZ4)GT7,?H,PXR!ZHT4Z)$9C`1
MJ#<=?BAI8E%YI2K4*ZRIBH2?7DLI122GR&J5`3O)-NLL-)B&DX%PR,9ZW*F9
M'6(,1HDYP@%BH0F*F(?!AG@(*BA]VZ:KCUK)&D[<OK<96HDILAZWDSAT"`=]
M1>+(!H+$IP4JDT60%K^'>%:>,"AMFXDQ?!W[[,3H+$OQQ<@&L"DX#2C0K+4G
MJF7AB[684($(HB`@0@4FH.L2`B5@0"Z(M@0$0`DA:H!3KJYJ4`*<%!V@B%)K
MO024G?.(8$*&;Z%2`9ISXNR/>;2H_^R)B_O<'*(J09=`F&Q+H52K6R;LDI#$
M&*<-#@'1JNWVD>6,E2S(C`D3+"+#J*+C9R\NXARJ-+\X3$NM!O,<L4$Q4E[6
MN`"Z2WB@ZAC3X)I@($B?B[UG.3`L`;,PPXTNTM*J;Y>^#0',FJZZ?]2&(\'&
MJ\<^5;BRU_Z?Q;;G[ILY;.ONNSRZ\OW[\+-Y0_SQ\,A=#@10(N\\-/98U-[S
MU,>#9/789].Z.*]G3_T`@`%FG_?DBS-I^>AKLKWY;:?O_OOP'W)^_-FOG^F!
M].>O?_U8[4\]`<TSQP)2Y[\"&M!V(6C?`76G0'$LP&,+C*`$TR86"$XP=PT,
MAU@N6!NT<?_P@]E0``0L"$+593`<&BMA5SRHM@$X1RZQ4&%O%!`"$LI0;2<,
M1PUO"$(:B<*%/-S-`P@8Q(OET$D!+.("?:@%%>1*B621@/V@R*DICF,!5OQ=
MV30!/HE$H&SAHPL")E,2!/"+`T?Y&<(J%SXS3@XP,=L7`E3P,YB,<2$_`\QD
MT`B5+3:QC9^S4AKA.``,Y)%;/`I?+_IALO#I*R9Y1(`A++?&C(2$1H4\#Q5K
M(\5-/BN+YK,A\BQ"%Q/\`T9'Z9%)\C.E.;F1BY%`CQL'0+`#H.)L58/)8A@B
MM9NEY5.X8`AZX@B906A`:!2)Y>7VA0J<20^7$S"!+87'$)9-(@+_OZ*=1[9I
M`@X\T9-<>2`XDP5*#2KO>9`P267DPQ=$9(N5GIK3CX(G&YH<)"`8&<2/XE(T
M%@&,;\"4S_A@&9&@P&:==VK8S3`C/+A@Q&LLPN?`%#4/J"3D7X@8)UDJJ%%+
ME3,<"Z!`]12C%$C`9`)*R01-EG/)>")2$Q_11$?48A?3E"8NOW(G+`*:CVE`
M@EOIS(0I^94MFK;E-"K%1:U"$I>*GBNE'>U/@J(:J8^&XP5)1-X\)$*>0,%2
M%/#<&8IH$IZS'04]T\0,(G$Z/51PB4K-*`4**GDJE)A).5Y]5UY]Y1:TUNBM
MR8!+.ZG:FPT2=DE6!4?WJ`>7`VSF,42*_TQ8VQ2G`TP"`6FI6AO;LC"V/G%7
M`4T,!B`"MIEUBJ6A0VU>ZJ&>S7[++OOXYF%M0\/9)BFQ',,>*F)+NN;LE6[2
M"-@G9/N)SNYT>K3`)ER=L0\XF1:O1!J));(3S)FR*A2`LJUN-*7=!2W@B.,0
M8?4LXM:@0&426KII/(GKC+A<$WK&M=(D2F.,XW(K:\XHVG7M6BYZW%(S%.EM
M3UY3&DVL91+L[2Y9IJI@`04`O%<4*3H'`9N2S,D1$>CIG8"R@;]25C/6F0<L
MR)L6,*TROAM.BPH2)9%Y\2L"G4`$PL+$G[J>"D3T,,8$TN(*?>5'.HI8Y`8&
ML,92@*W!M#DGDO][\^"JT%"4PQ-$KAA'"+J`HJL.LALE,,P,OV$&Q;>X1%'V
MAM)!@2*0SY5/B*\<I!L-8Q`XKO&2:Z.`)\V9R1`>!P5@%^4*9V+(7<JOE[!9
MXI5$@P-KPHN?%E)@(G/12W'JT@80C8@U%?C/AE;+`$I#Z!=UJ9*.!K$F$!WH
MOKWTSK.A`&Y1'94F9Z5WR*O5J8LH*E;7!G>VGHVK7WV\(7MFH#<<@`HF,-A<
M%X_/QJ[*KJL24N(]AXQ*7`2PD[V5$5*;*\NF2IV)!^A+%['4UYZ-`EX0;JUD
MFRH4R'.YUXV]3K);*N>F2@C>3>_XP;K>Z(CW5`*@9'S[NWK,^[<Y*-#_/ZY(
M`,H"3[CO^*UP<JA[X/AKN,07_O")9Z+BY5BUQ3?>+`)(F./7P#@Y#`ORDK^M
M8R:OALC)T>R4NYQB*7QY-%9.CG[+_.:4LC;.-4'S*Q9\YT!?4IT1[O*>B^,!
M$0^ZTF^;59D;W8%/7[K4F?WSFT==AU//.H%L7G3;Z%OK8*=-`#0N\*M?M>EA
M3SM96FYUW2R@ZFJ/.U=JBW.SAX/L<L^[.%1]\P?`?>W(UKO@DV=W8P?@[V0A
MXN`7#P^\O_OK7?DNXR</C\6F'/)<(3GE-S^.!SA^W9@/9^$Y+_AM7W[T3B*]
MZD'Z<9"'/IR!7[WLHX'RDK^>*XJ?O>ZA07"3_]]^*PN(_>YWKW.._UXKFA^^
M\C4Q;]>C7AS/7_[4V6[QXR.?Z]+7O9TW#H'6]V;[V5]^S"W^^:F4/_QJ3[K$
MSQ^5[J-?_,*O-_OC,?[W$Y_H^)Y_/')O?]530/T)IW_P$'S]-WP9X'T")X#)
M4X"[%QP3IX#I($X,.'O%EW#19PX`.(&<AWWT=H$9YX$:6'('UW`@J&>(%X*+
M1P$<R&XE.`X9B(*,9WVV1@#XUQOW!H.;UWS_!H'MAX.D%P`(^&X\&`\2Z(.4
M-X0=A83I,'9&N'GNYV\KV!\!UX2,YX!0J"0$2(6,1X/^IH0#J(6,EWSLYH7I
M4(%@F'=<2&]6J"1D>/^&`L=_U-:"Z#"%;IAW3\B"D"(!<EB'CQ=_K+:'YF!Z
M?"AW+YALA5@@ASB(4E=_X=:&\""#BOAR48AJC@@/.AB)84=]U/9_E`)`F)AV
M:WAMD,@;"@"(GYAL:2B*IG@.DWB*,K=GY29Y.1>$KAATE0A"=`@I3%B+62>+
MU':+\9"(O"ASPHADQ5@@13B,2I>,N;:*Z!"*R@ATG!B'R-**T0ARQZA=FEA5
MM'B-78>*S>*,WMA=8GAGUK@@V3B.$W>.A\6.!'*`ZKASNSB#S=)[\8ASZ4A5
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M6(ZI.B/(FM?&EIYT>*LCF++94;@Y03?X-IV9FZBV_Y?C))I;09S`:6]M*3OD
M=IS&9IP4)SN'R9SI$YVYXXFQ0Y32>6=AJ5&GB2S.F9WETYT2!)JE(Y[@247F
MN4"9J3K?>9[UTU&IZ3;KZ9[:]9M%])JV0YWT^3_C9)NYLYK[J421642U9SOM
M&:#.HY_LZ3L'BJ#'(P%H%T0*6I4!Z:#].:'R68.^B:$6BD$<FC8#NCK8V:%4
M19XR9**W2:*VU:!N\Z$7J:*'19KZ(Z/)0J,P&D$`ZC^"R*`W2E@N.C%Z2#PR
MV:.>-*(W!*''PZ)$NCI*>C'I^4E+FH1*M)FY\Z116D`A^D%6ZBQ->J7RJ41=
M6IQ>"DYARH\:&CNT.:8R-/^?'V2CS_*C:CHQ<&HI]KEP<4I%<UHI::H[;GJG
M[I.GG5@]9>JGS1*?"X2BNC.HA.J=-V2&QY.+BXJ7-Y2C;C.DD<I!BAHI5#H\
MNWFIZ`.I%^26"0JHGKHDG4H^6?H[=5JJ!W2JV;.GG,JJ(.2JV+.E:4.JLEHD
MM$H]JTH\N)JK!;*KS].G&$.LP$H\.?E!B$H\F7JLNOI!EOH\S>JLP:JE$>H\
MTTJM`_*KR(@^V:JM_\&M`U*@WM.KX/JG'&2K;_.MY\ID%R2L:L.N[;H;XNH?
M#["</CFO_F.LJDJILB.O^EH;`-L?B8D]`QNP9'&PI,BO.(2P%2E!O5D^]>JP
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MNM!9NNG`IOH3`(2KNF_*NN>@MF1+N[*K!7?+CQ5*/[N;_[NZ\;N<8JZ^B[NR
M2ZY,R4'""[RT@;GD8*2M:KRJZ[SC@+P+M+S,F[#I(P&&^KK2.[HD.S'AJZK?
MV[GE>SKG:V[IV[CK>PU#5$+8F[U=T;[6X''P2[]SZ[K(0[UD$;_R*[+DLP,P
M&[W_FS;\JPU9":WXV[:QFSNI*T.*6\"5<L#8X`XWM,!M2\'7H,%>@<%@Z[]%
M8KT?Y,%:2\*:`+TC+,%&A#UTQT,FW+3CJZ>]*T'^JL+_P<'20+P2%,,V/'>2
MBRP-'$$X/+<@/"`1?$%#W+9%_!_C-I4]["Q''#OZ"T));+8D/$!4E,!//,'.
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M%(/%<[G.P]')O<%W&VG/[JHZ+=Q=:<S/NI;,SI(!`ZR;P>RPSWPQU]-@"RW0
M8FHZ\AS_5?!LLN4<K(1<SQ#-))]<*0$`JMW5O1LM%;!<6/C<JB,]&YY7G@E-
ML.&<TK+<T9IZT6L*TUYQKV\C`27]QC8]OS3M'^[&:A5-L5%<*3M]07[<T\NC
M-H-[T*VIU%J1U%'"4;GVTU`-#=.,A4.](%L=L"N-,:B3;)1\U?DFTTEB/$K9
MTNV*TQ<3U,8&D&2];U:]71EM:VK=KE<KSG5,B7$]%4?=%4,7;E+=U]APQIP2
M`DZ-9%-,V&M#,==\;5T]K\GZ202]9%G-V`;RTEQ=V4CVU9@=B']=EW>=MY^-
M#C++AIR]9">=T@/;`*F]9)%]K@0`L)L<0;5<VM2PVO`6VD%T_]JX30WV.+P@
M'6ZC3:TO8-;^\='_QMLC/=?85M?K-MB_[0R+O2`,MX/3?727S62Z742QK:U%
M+2!UEMC&-LS9C0WCG"3_[&^U'<N6JR0ZW7`OH-GGK04B+2"S3=[)EM[U+0W5
MC=_%[=$!+JOI3"`-K7!(VM_8\-^L\]J_J.#HK:B>Y^#[_=W'ZMO,3.&HB-S3
MK:@'+G'WK>`6K"1U-N"<,MD03@WO2^*([7PI;A4NRM\)Y\XO?@C*K9#0+7'=
M;<X&G212I-]J:.*7>MNV@44N9^&YNN/:X'DA?H4U'@T9H.$^+.3.DFY/'@U*
M*D(<CCVD9BA>_N5@'N9B/N9=L@1D?O_F:)[F:K[F;-[F;O[F<![GBZ9[&$X;
M$G#<$_1F([+G?-[G?O[G@![H@C[HA%[HAG[HB)[HBK[H@*Y[UTT@8P?DZ:/G
MC%[IEG[IF)[IFK[IG)[INM>@#[``S+TZE-[IIG[JJ)[JJK[JFCY[>OP?#>#<
MPQ,$`E#KMG[KN)[KNK[KO-[KOBX`1O#KPC[LQ%[LQG[LR)[LRK[LS'[LLS?J
MZ+U#('0!65#MUG[MV)[MVK[MW-[MW@X#+N#MXC[NY%[NYG[NZ)[NZK[N[-[N
MVBY[==X5*BA#U.[N]F[N,W#O^K[O_-[O_O[O][YZ!2YV.2Y!]0[P_4X#,(#P
M#-_P#O_P$-__[:O7G@]M\/^>```@`/V^\!%_[08```9@[A\?\NL^"!K?\=W^
M\0F`\AVO>J].BB\@Y?%S\-H^`@E``HN0`"U`[AA_\OI.`S4`\!9@`#B?\R2?
M!2,O\B#/[B:O[1V0`%`?]5*_\O^N\BP?\:HWW$RRUQQ$\]C>`B<``"!@`&0/
M`%0O[CW/[S$@`__>`B`P"&1?]D>?].5.]^K>]-G^\7U.[@*0`AV@]&=_]0U/
M>A6_=DAN#EYO[0(`]]CN\]Z>]OLN`^'>[QTP"'^/[9>/]$M?]YM_]QF/]IW/
M^4<_[E8O^`[/>?I<6&$-18F?!2,``"?@^-M>ZR.0[9!O[1]`^]R>__N.;P$"
M4/M!G^VU;@&S7^O=;@&#P`+>;O>X7^L?D/=+S_O/G^V\7_O8CO?=CO&CW_P"
M0/S0O_W5/@+.C^VE;_H,OWDRWL$-0-\'U/K,G^T6X`$8#_L)H/S6?OL"X`%%
M?P()``@668,="2L&)```*8(I(``G53&#E"L)BB`I'919'2F*`"N<HQZA'Z.H
M!@`&G`(>B0`D'@*<J@8KL"2LE*ZP)PFTE(K!J)R7NY06KY@IQ`D)CR#/FUD&
M"2>*NK4`"<7>W^#AXN/C6N;GZ.GJZ^SM[N_P\?+S]/7V]_CP&13Y_>P/$AKX
M&TBPH$%\%U!]2#0"G``0'@P8^`3`645*!O]`'+(&`(2@:J`BEGIVXM`E#Y0^
M7`(AL10`:EE`0#3@`>:HA2<:AK/%ZU$"B2N)J;J6XA8VF!DWKOR899BX8YPL
M/-(U41&+0<^B31NT2.(*;,B&DAM+MJQ92@?3JEW+MJU;=`H@O*W78,'<NWC?
M)APE0%&X$<0^?!*%]2(AIA\>706YBA(V`(N+-"%QJE,LIBT4">K0.%S?;N)X
M#DKDH?*'4B0P*B*<A04DG1T0/X+I-!Q42J4\?/R0F;)J9(.`]ZXL]JSQX\CS
M*E_.O#D]`L[7*0BA(+KUZ^WVMO)+]C.E2\12=58%PA@W2C"2&`8_"FIQA^<Y
M@>(.$AE]80!4YS?_'WX;Z*:&@7,;5P$2*%1GW]3V'G(,-A@.=A!&*&$_&4@0
MH01R3:AA<]KQ<I\W%@@@$4WQ9<%>,BR,>-N"M[D``WM2[;<=2EE@DP`+E17C
MG3'/T"=:7\`%9YAHJOUG08I`E5B;@`A:4.)O4/+5PH@*/NG@E5AFL>&67&X8
M%X0/$)!!EV3JA<H(V.18S`B7S%?BB5F,\(B;N[#8&0XQL->7C!Z"QL)C*S`U
M"IJ^H>+C>`A&2:20H,GIII(%>C/@COY%.<@'JCP:S()9=II<F:"&BE<($`9`
MG:BH%M3A=Y&.HD@"'U%ZXIXTUL>H>;O`8.)%>Z)"*6/_H0*G?#**MJB0_W4F
M"E(WM'[TWI+?3&KELI;N"@(Q50;KZ;9FI>KMM_Y`4)UU88X)[KGUK$I(+&IN
M4VL6LJX7RC;)!@N5B[L&<XE.N"F+$[^CK/":H<4BV!$JCZA6'B>/T'():]0:
M^%2B`S,<()%[JIDMMQQWB^['(*N3@;G1!="`A2&GS(ZZ6:BTB#>+CL2JOHD^
M4B^N6<S@0K[KOHLF`((6UE\REZ1`L*6)V,19:D(&Z*1'NP+G$WY#"YMH*2UP
M,@*[EO9*"6=#3MOQV-ZH;/:Y`EFW`*EGMVT.R_""@M0NM;GTWZP=":*,(C>S
M:H`+,@B-'XT"K$@-IZ/$R!*Q72M"#=@'=K1)C/^[]`7UWI!6W9ZRC@_R4*)[
MTN)P9QW,N:G89*>.EMNLD]G``]$IT$``K;<-=\LNS0?:5Z"<P,(S,U<RWPE.
M]EV8`3),PO,@%L"BR`FU9HJ)3<6<]NBAPLV)2=:J+0-*`CD*W+N3_T$KJ;(L
M:`])D%E0U)BCH!P2MK:JUZ]E[?A+F(%=SBW0`#_Y4]GM/(<D`W2`7R.0R`'C
MA$`!J`E)"Q3`1T($,,!80`<T&`1@U/0!$1D08$>22`N"]@T!%-``+"!&B((6
M0A2R4((?0-)B.`'!A@B`7P)PH#@LB(H6+E`A'9#(!*=D``>&J#(4M)\2!Q'`
M)D:'`M!IC@+$Y$0!+I'_+#&PP16WR,4N>O%!50PC7C(`.^8$9%QB_-@`OSB#
M+[KQC7"L7QKGR):3-8<`_*,CNM;8Q1BT,8Z`#*0@/Z7'0OHC`'G,"X9H9\AS
M\9&+NAJD)"=)R6(T\I+VH$#:\C+%!901D]YZY!5I@(-*FO*4@@2E*N'1`#3>
MQ7^K!)<HEP@#Y:$R..SKH42V:(%=WG*)L0QF.L25%PJ$`(#"1!7+`)/#'+8K
M=35H4#.G24)/?:@8B7CA,WX",%YX8)L&&,$S`;/-&XZ",]3[)=F2*4P)1/&5
MK61GJEC6)E#(XIGBT*%99*!%!ETOEYVZYCEC,8H6J*]B&JQG[_IC@,?TSB8?
M_T"H.M<I3U4&X)UOF0XC*RHJ>@(@(B0Z&%G,1XX?.(AO(RHBV01*K/!DJE:%
M8PK8$@`35[A4$;5RR;N.-5&.<123LOMD6SKYTWD6`TXQ2B<X2"H.&P2N02SM
M6%3C]BZ!0<T;G"%>]2CA&@"TZV<VP49/4U?41F;`E6S)``&06590>?2F01)`
M"IX1*,])!*="[(1*:X$,`?!``)Y(@`V+:`%+&$)S^/&&B/H3Q(\TUA7/,``)
MK9$`30`('*4(CU7`\0F`FD>I5OWL6,?65CT2`&5MD<#^2JO,HQ8HLRGY!`D2
M``M:2&\^HPO2H2XQVX:HXIN_@$4U$UN,8YWH&#*!AO](F3<5VGXTJC&J5`E1
MYZH3?"-A?1IMQUB;Q@6@=BUQ(1EWW>K:8&`*$IPH!0A.(9B7A6A/+7!FU%PE
MHQXH(@4YRI1@6_:)=QVMN,HZ[FKT-AM*?&*]+0,;G_BRW/:]!+/S"@=GZ*<:
MF/Q,NSX=KQ-EYQ;_L57#9/+H;)T+#$Y@`S$DR`G5<,:X+,2`"HI04Z94F+<$
M<6.;-$76YFAV5<N4#VCF63`G,@.<85D-.!Z4R.DHK&-6=1/#5P)Q`$W6E@5`
M()%2#K%K1XR-&6:A>*-0!6T*-"`"#6(&G.(44PF$XQS;BC_'V\Y^?A4W(5?+
MR)L#SFV-)YXBMPK*#<HR_E[_!UX(8%306K9:,/Y4*)!(`\=3DYC?Z)L%&L#@
M6,=:\V4!'"0!A\=K/(WJHO#,8N;EL!1\#G.B2`UH0B+Z;*=22UU>W='R]BLL
MUWO5BB?-.%UAFG-_-C.G=RPX#^TGU'9N\JVF2V$B-7ASQ&XUEFA]M@QLM"`*
M6"2U0_76KRV7,YZ5=)R3H0A\_5JWP=YTGSFQ$'E]FCM]\:^3DAVW8'&FQV<Z
MP;76/8A'5--)UDT&=J4=Y6V'+``9,H@$7O!A@W.IVY3PMS#P3;#PE`)B+N'G
MFZL%(,2RE#/O@ERQ/4>?#[GD&Q>V&,10(5M^9R$S"QM%?[<3<X('VN'HHK)!
M3(5E_YP_W-9%8A6LHD(LFU@N5J#XX[GIZW%ZUR9&[I:ST,D]U6'M:>C)8,HE
M2FRI&.DF&>H55)EM[FJ?H\J=.Y^UV<FK:*T=Y5*7^`5)[/TJ$@3C$<%=1;F5
MS?>.V_@;=BM:(FCV;AFU.^]M@H]_V?2JK`2HO9#8ILW8/:=M8B)H8B6[@]:>
M*@6\0*CY0+@G.<_V<TK6]#.T0`=RYP$OOSP:$\R(Y++0`Q[P8J^W9^CI8>99
MWK2I!1]H+"%VSSQ?:E"_63-^]23ZY2#.A_@)ECTH<,^\%N0N`2,<J'\U;QS2
MBRJ>`R'`)KV?Z"[6DOL`9G+]-(U^<I"?3`\`?SX4D`%BOO^_3+/D6#3;CXIL
M<A&=_%=V]R<A_Q,N:S6`I;=%.A.`?&%`6\0;!H!/#%@."#@AL78/%'!&%9B`
M2Q0#3S6!(*A=&Q@A:H4/86)_(UA^5[1_(=B"/96"UX%']V`RAP:#/[=%'NB"
M.JA.-M@_XB4/JE6#/;@E^=<I.K`S.YB$IC2$RX%V]`!%!`!Z3$B$6P0X2GB%
ME#2%>+$`0M@.:]-S6DB%5Y0#6%B&@Q2&;T%%\7"":(6&-ZA$,H"$9CB';^2&
M:06&ZH!P$G!M=M@E1>@@+J`#=#B(;M2':<&%\$"#AEAK<&A+A/B(P+2(!#$R
M[J``"\!PDLB(]>,"+`B)GBA'F4C_(3^(#OZSAU(8BF)8/SG@B)_8BMN%BO>P
M`*.H!1DH@["HB:ECA:ZXBZ]XB_-0@NF@22CHBQPX-IW(B\B8)<0H#Y2(#@2`
M1VVXC'Y8/SAP`\EXC<HHC>X@B^;P``M@97RHC?A7/]:(C>9X<^*8#MX('5!T
M9>D82JIS`Q]XCO3H,>]X#JTD?N%XC\6X+;I8CP!)%OQ(BSOP`@L0C0,YCF13
M`_T4D`XI#N_X``'P`CNPCPG);603`\?XD!R)"N+H/P0@.PAYD?W8*9'4D2CI
MD;Y(`5QXD%K@3B-)D@K),?*8DC;)";"(<(BT4>YTBC*)D1R#+S<YE)*8@1>%
M9>OXDWO4_S%'.)1$:8=0N`_LH'9**4M!.8].B9)HZ#\!L(?N,#M5N93<,@,9
ME)4V.809Z$ZVZ`XF8Y%A"92^DD/'X0174#\A$I?FM$0C,%S?8`&G($%KDI>4
MP$/Y-#0KQ!?Z!"_3A%C2EH(2^8S6YI/J$%1O*9;L]DU;818V``3AUBDB@@IR
M]Q/;PI<FLG*A85M#DP)S)0M?LTU/IC4X)E/;!!.&=3?;E`@!6($7%0(A:0_/
M6)EJA`I!Q"`Y((>I\YGM@1N=>1;J9R)<5Q;4EPJB`QH6@'7%8`&Q0ITYM1F5
M0S_(V7[>IP`[:6AX"`_T-XO`V5IA5C4=Q!0-`1BF]@'\]`&[D?]#NV%#B&%#
M_.*7@SF8<FE7PH(1R-!!E2%.AQD5B?D!>RE!`F!WU30+-#&8]`F8EX*=1G0*
MT=F`6;`",-%ZY``:'<`]+[<)*\`O")82=I>;/B>1AD8``>"6\A!_#9>>1L47
M7]<*S^`!.O$3<]4"+#!7'M!&R(EC?SEBH@DO1EHGSD`(6;$8W_D=E4`-A9,`
M7T=3V\0]I_%-*<`]#3H-U^!FKD*?,F*ES^"DF)E`J/D-@B$(P?*D?6DT)D(,
MA6,BM?!I3,-_!O>,/_";.W>!-&J5/;1JS$,C1^H!-,(#K."FA1`WWR$(?=&H
MU;"DH[!O;AH3$@$",$&=FP`\6.$PR%#_8H\*I3JR"US'J3$A.L62IL)I#:3:
M"LL9IYW*"]T0+-2G?.@G91*)<`1P90$0D_G0C']JF<))`H)`$\W$-/^A4C@@
M!8DZH`+0`LR2K-.)$:I*I_Z9HI5J=P^Q*;.00ZEQ([*:!8WV._!B+]YPHXMJ
M(C,TI]^I4AD:)R*R,&VZG!'Q'7(ZJW7*"8T&GJ4U1;O:E7LXHP<!`=\5K(#J
M#>E3#3\Q(EA!K5E0`U/0K/#B`5/R3>7JL',:'-4*&C0Q)93*/B#*L0N[2\\Y
MIVT:K<:P)B>04BI6LLP2%M5:#!VPJ:X:#BQPI[#J.?CJL(2P?=S'45PH?@W`
MIWEA*KYJL"4I_PS5`++4.@,Q\)F?.0LZ>[$:2[61>K4-6YWV"B],&ZNV"J9S
MVF.+FK$-*YP@=:FL`+8OZ[#O>GM+N[4EA&_M6JU\\IQX>DD4\*(7]8S/^*("
MNX5=B+0U&A7LY4LD<!4*6K;5P`2!`[6LP`B#8`E6JU)DJU(6@%^\D1\C0",6
M<`*BT[750!B'VS)L2JQ?1@(-X0%PVCPV%"S[.AH5]*VF*Q6#Q;;]@9V#RCS@
M,[&5D9@:9+J7J3>E,;&#,"4]`8+,`:-O$;3/"`%ZNY-Z.R$G(YF"BXN>,U=%
M,9B68%G66@U`D$&..[$T);F5.ZU5NZ$DL*5,8PTU@:V@*Q6",`+;Z_\PJT>E
MBP&!/^&DP8(+1K=]P$!3WR2U7&N[-IJC<@JD$^15I/!HAN!-5$H,A=#`N*%4
M/[L<?'O!L_.\&KS!',S!%WS!RJLA`1'"U9NT9`$#QGE+=LLQ*\PM9$N/6OB,
MU%O"UGL6-U".$]7"VZ+#GI)]`,F$&D7#*?.'H^`"?]13/-PI26R6]@B#&BC$
M(4/$G-"43%S%]P.#$(">4/PM4CP(,E!*5ES%,&BT6VQ%QA$#9!C&8KR!LE.>
M9<S%QD$#1ZS&9KF!'O;&9B/%,-"0=)R5%3BT>'PV1!P#)]G'?GQ_3QS(9DP6
M-)#&AES'Y'>4BFP[9H'"C\S$WI>4DTS)9''_PY>,R9Q'`2]0L)L\Q&3!B9\,
MRF:7Q4=;RG`\%@N8RH?L<``A?ZXLR.1@::PHRV?I<&U\RZTC2CB`E;S<R]0F
M.X$+S%$\#GY4S)#\:F$2A<I<.WQ$`SCLS$^):/[CQM.\S.'@M-@\RU(F.R3<
MS<$)#C&PR^&LE5*F2:-GSO@S0#)0R.MLS-REAZT,SR!S.ZA<STXY7D&HSTYT
M.['LSS?)6M$\PP*=Q]ZPQP;]SVV5Q>6\T*:,"C7YT-E<40%0?Q--T17-"39`
MSQC-SO($A0KMT9Q,"49<EB-MS\$T'=R,TL$\"H[<TBX-2MYH93)-1]JARS:=
MT:#$E3NM1]KQQ3\-_]2&)#M@.=1$/0C-?-0'?4E6)LU,74@)@0,B#=4<F=3/
M*`$G7=7Y<P&!R-):3=)I-$6V#-967=!E;=9.U(XQK=95]`!"D,)MO=55U)(=
M+=<!1`!@?-<I&4`2"8Y\O4JRV,6`_8GX`]?Y7-A5A':(G=B0R#I3%`)Q[=AI
M=%%O(]EN#3)="8R8'4LBN=F<C=<@`X4N&=K!]``A\$F17=IT^#$T>-FJ34?3
MD0ZO#=MFZ"T2R=%_6]N@1&CHD-NZC86BXJ\2(`&_#=R@Y*+J0-S%K81EPH6\
MV=C,W4AK.=S1_<,3\IC_NMS7'4NGM3+;78\1LJO>Y97A75KC3=[E?8[-D?^W
MR:VK>[W>J]3>[OW>V,@<_QH`7VW?[(3?^:W?R0C@M_B-\`#=!(Z\!AZ*"!</
M"K[@#-C@F4B9"2[A!4[AAGC;\A#A&,ZO&NZ&.M?A'\Z+(>Z&%D[B)>Z*)QZ&
M'$X/'K[B9-?B4SCB,"[CK4CC0XAP_ZW=..Z).FZ##XX0/P[D03Z"*6X/,5[D
M@';D=BS<1,[DA.CD""C@42[EL4WE[V?E5X[ENZWEWN?<!+'D7CY68$YZP#H0
M9%[F$W7F:Z>&JL+F7^[F#B?F!K'F<GY+=&YPL@/>2I[GQKWGM!87UCT/>`[H
M2RCHB#8=A6[HB"[=BIYEFM3CZ?+H21CI4C8RC7[_XY:N@YBN8=QH)IWN@I^.
MT(@X%X<^ZJE4ZFWEIVZ1ZJH.2*Q>5/&WZ5T>ZRHZZ_)D,K9^Z[@.XKHN3#:.
M%[#^ZX48[*N=Q1QB[!..[+'DO,Y1[,S>1<ZN2D$<[=-^M]7>2$G.'-*>[5>T
M[=C]SM'Q[>"N1.*N1U-$RLM^[IJ7[G/$VGY^%^;N[JH#[V+$ZQ)2[_9.4?@N
MV*>^[_UN<_\NV$L](?P^\!E6\*VC[QN2\`J_+0S?.@'_\!'?:A/O-GA$Z<H!
M\1>?C1F?,N0\DQ\_6B&?,KO*\=Y>\AAV\A\3%[1]'1[/\NCH\MXBB[V^\C1O
MYC:?*@]@:/"X\R_8\Z*BEY.O+/0\2/1EHLE'C_1ZKO1=LN["ZO2G!/5<`DOG
M3/6H9/4:XHU:K)Y:7_5<?R%I[4AAO_5CCQV6S=!GG^C*P0!P'_=R/_=T7_=V
M?_=XG_=ZO_=\W_=^__>`'_B"/_B$7_B&#_<^H`0^</B,?_A'X`"0'_F2/_F4
B7_F6?_F8G_F:O_F<W_F>__F@'_JB/_JD7_JBW_A]'P@`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>c16419c1641902.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641902.gif
M1TE&.#EA]0`K`,0``#\_/W]_?[^_O^_O[Q\?']_?W\_/SP\/#V]O;Y^?GU]?
M7T]/3R\O+Z^OKX^/CT!`0````/___P``````````````````````````````
M`````````````````````````"'Y!```````+`````#U`"L```7_8"2.9&F>
M:*JN;.N^:+(`4&TS0%#`?.__P*!P2!0.$@J;<EG+[8K0J'1*K?X2-*9620@,
MK."P>$P^#9+;M!)0;KO?<)<@S5`([H)`=LF.^_^`80$'3`H-7R@&"&N!C8Z/
M/HM\!BX%"(1]D)J;G`Y,#H@O#3B<I::`!DL'3R,%"0$$-0H!`J$B!0ZGNKMC
M`WL0![8&L6D*K+S(R5.2-03':`0.`B,#>34'`<K:VT$%A-<-(P8,P`FV)`6#
M$`#GW.[O)F@U"*WD#)0K`K$+\/W^$0.6L+)78D"#``'"H2.4X)]#2``:KDB@
M))<(BNQ(>%)RH,$""-,:0&#0#@@`?`]3_\*`D&T%L1J("M1`&8$<!&D"/@(C
M*>*C12(@5>;H9P#;RI8I`MX809'>"!H,C@68-V(.OR)!^PE@-92$`)IRIGD%
M*\)`+1-W3!006^*KB#E(`6XM.)=E/B42(\1"*?)>P1IY(QP@4.EL59I9(ZP]
M5A:E`;)F33Q6D7;L";=OGS`#,,?&M*E-"J1B.\A$@Y?3-D(@(#8``V($%`)`
MD(4`2IT04*I>IR2D#02(5"^*>T*DC2<R"8^(I;!$C6,T6!C8DXUBLR=97SIU
M#7L`L:L14MFP>-I&\=X15+,6P;W&`GWN(]Q4;*!:G;,.*`TX0(]`)@@*E$#1
M`CO4(A)P!>P5P?]4"PQ0```'B$`#.][TL4!'$7Q$R7`#5&.`)W88!&!X_(4'
M`8*$$&<":#54M<X((@4HV8@D1+?"8)08L$,"TQ3`P%59Z9!>;@M"T*``A!QY
M0$-(9K1(+CA\P=8(4RD@Y0">(!C+%U,!9QQP%,T!5E<ET!8!105"P!@!#9*P
M``/4V#45(B))J%R1BD&0%TLR$0=73W"*@`!A-,1DEPHL0N`B6S1,.8(GS8E`
MR`H*V):"'B(D-D)0<PH*`2(*L%$I":/2>,(!,FX:*$#SP;+IG0#28,=32.4!
M``#^Y=G0H";HB0X!@>&ZX*IS2)A)L7/,@E`7<S#VIUXY(!1='20<>JG_#9EX
M(E9`$9ZPI5<OJ@``>*T$,$.N\HF5`&V-#DME)IB.JY&B4T5T`@21CD8"*9BR
M]]\#6!*`801=(4G`++>*X%^"J6XZY1Q31M=O!,42?*RB<^!P:T05@]O2:ALG
M;*U\*I;`8K<49S5')B2DLJJ$)ZXP6PG#\*=''YRN@Q"G\/9,L%,BU'DF#4`[
M#&[$]/J<Z0.WV-@5KIKU`9>FF1)'9DUL3%QQPF]A3#7$;1TZ<PD`-#SR"8FZ
M*'6X)FLJTP%DD<WR@BCW&]1\F7ZF]()L<,V>HDQ1/;),@77!][N;,BV")Q(Z
MY3<IF1XPMX0'3'D)(G/DHC7@?E<<,PG<TFQ4_X:KE)`$/A25/*\-B(2>\N0#
MD&,+(47',/*;(L2.\U?X!LTSXOX6^83NH%/-P,MZ!=-U.!-/#,$##`2@P`&!
M3A\``HLLX!K;-)2<(*IZZ+@:`DD0P.7%QKHH0A(Y7%C6^&82'/UC`B/@6C;>
M$4!^#:J[Z-E31)H#RD:0A)?II"0F^(CV%I"``<%B-7G3B_[0T)#F^6P`%[(?
M`9RAEUG$8@=<JYG]3I**"4+P<,%;FAX6X(`G&"!4#7'``EC8@+P,(FZ*<<"M
M$+`#`ZP0%&_)2SHN(D2D(&%<M;I92QHPKAXJ$1^6*%L>'&4"I=1@52+I0_<0
M\<(FE.4C<'/!$4(U*_\9`,`!!V'/#@:@!T/0@F)Y$4`<)<+&&00`'^;*@;KR
MXL,=.G%<0(1C56P8&![,4"4M>,FG<D>(:70F!Y<`!C`T.!(J(G(,!1!)(2^Y
M(KR(8S642,!+2L2,:"@F`)ODI!6HHLJD+"$48!P>9*A!B$BU\I9^D,?G>@(,
MQIP@06?#I3#=X`T;#`P@:%``#M.1HF$Z,PZZC`HU'$`(5.'D#NN*Q0%^\LQN
MD@&8-C"?Z;[!A(/YTIOHM$)GC-F.M80,,Z"S93KG681$K4:>+!``Y.C)SR(P
MPP8+P&$5(SFY?AK4![J\!@+P*8[M>?&@$`6"<;2@`![AX2"*?&A$-\J#,Z@F
HX:-LXZA(78`%D)932"--:0N.\`LU=.&<*HWII=[$!,DAP)(&#0$`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>c16419c1641903.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641903.gif
M1TE&.#EA@0"9`.8``$M#0XJ"?)N3C,[*PE-+2K*LI$,[.\&\M()Z=3,K+**:
MDQ41$KJUK,G%O:JCFVQD80H'"%Q34NKIY>WLZ2HC)'IR;OW^_61<6B$;'=#-
MQ9J5DGUU<1@4%75L:<;"N8V%?_KZ^=[<U;ZYL9*-BQX9&HV+B]32RCTU-G%I
M9I&(@I6-AH5]=]K8T>'@VN;EX#DQ,O'Q[O;V]-C6SFEA7J^IH>#>V+>QJ=;4
MS!L6&`\,#=S:T_3T\MG7T-W;U-/0R.7DW_+R\.3BW6%85NCGXOCX]^+AVZ>@
MF2<@(9**A%E03S8N+RTF)]_=U]73RR0>'XF#@960C4Q)2HZ(AA(/#^_O[(^'
M@#`H*;6OI\2_MU%)2#HR,[VWKXA_>:VGGC<P,%]659.+A)>/B,O'O_?W]GAO
M:]/1S4A`0*:?EF=>7#PS-&]G9(!W<M?5TCHS,T=%1DY'1DE'2/S\^U=.3?/S
M\3\W-T]&1C\X-_O[^HF'B$`Y.?O\^T<_/]+/Q];3RY*+AO___R'Y!```````
M+`````"!`)D```?_@#8:@QI0(R5XB8J))8V(BY",CI.4E9:(CY&2(X>'C2-0
MH5"#HH:>CIJ7)9REH82O,TI*5DM.)#@<4SDY4PL+'#@XMPM3Q;S%O;Z_',S,
MP<_0T+?0S,3(U[\D&-LDM]U.1Q1+2^+C%$Y.&.G=N+[%OL[/VMOH1_;F2U;Z
M"0FQ2@E6CI#@L&`7KP7!NG4CJ`N;,GB_EC6+)T_AM&`$K3D$-@^#-W7AQM$B
M=P1=.G33JA&3**TCN"/C\NF;Z6\6!0PXB.WJ)2R=1X8-K[U+IBQCLVC3+.)2
MB8T@AXX>NX&D4"XFA9+HU'G$^)!B-'7UJ,:<V4^)%X`W&>[DF'6@,8.\_XX)
M?=<56,**[#`"?><,ZCQT54>2Q-J6JU&O":6"?1FN7$TK-W,V_"5,*RY=<#/'
ME8NL+MZH4A-R^$DP(=AM'L.*TY>/I,G"&>$A]OJ1GLD'LM#>4COEZ6G)FH/#
MQ4SWJ-1Y1ZPHJ?/&RQXZ=/:<2*#D7#VL].Q1F#F2ZFO8N9;A>F87F/EHPJ0^
M\/*"7^1<R'RWS26\?L-C\-*3`+?$"YT\!"2!AAQHH!#!!034$0$!5GCQ#S^$
MA2333(.]%E4[E-F%'GGC21/,>@XF4(M;*\F7%4'U"8?93I15%I(69D0@1Q9"
MS/`%"A7,H,87!`BQH!EIF/%&$FG4HEUK^]!"%?]6)5TXD5T7;7@>>@^\$.)[
M*R&D33A'8*!6BBD6P]$1+QC08P<(D%'!`Q=T@,(#%71`Q@41D#'##$+DB0(:
M/!H@V#X`*7E5/>OHA5@T1Z'G#0Y5OO!/+9?QM>4Y.,%'7%PK&A349#A@8`4`
M$>@8P`I<I+`&"AVHP0499""@Q@,S(-#!&@BLL6H''0B1A!E>6!$H/[Z2,ZA)
M%XZGH4(;4B./,(V>!2E#\$Q54J3#7</9?;T\M40:H%Z`P@:U<K%"`%S$N4$'
M`:10`:WDCEH%%P$$4(&=$=2QAP'\Y"OB8-AILQM%%@6<5U[0-#N++4`!HPY5
MY^2DT[5OS26F$R<D\4#_!W%6D&X`*HC[`;D?(%"%`/#&2RK(\B*0IAIH$$"`
M%@\"NZ2%Q1ZK&#<!@Q:P&FG`+*)`"7?J!,-`/RRQQ,3@0$$"!LCQ@!H5K*""
M!F<HH$``'V.M0@H!@/'!N&IL\#6L:JQPZJM"R%$''6O+\NBP616+E\`*>83S
M<23P;"5`MN`07Z<PD33,ID>7B%!R+]!!@!H8?Y""!@(H,$@*'WRL0ACRKK%&
M!1=4@,`%7\RP1@=X\NFR&0`0D$4:U(D(MT\$TTTW:G;33L(#::1Q5D`#_=(;
M#OR9@Y,[1Q.5S&@4*&$&`6AT,*X*"@BPM09A"`!&%2D@(4``&\PKA+=H)'$!
M_YL^7C"#'')\\442Z!,``!U*D$,SLCGC3;<3"0#@+1FD1\!S&HY*0)<DDXVA
MM68)E4(:7;J"`9CDP0QUJ-$:5C"R,(3A<@H`0QA"%H847&\-9!!"!QX@APBP
M+PE)^`(:OH>"S47@"Q$`@'320(LFH09O4=%9W2QRA!/4P5L;6(&LT*"&$YS`
M49`9GG@,J*3A+;`S66H&!O+Q`@#,H`(H(`.XQJ6U#U!/`5V@U0:P=ZH9;&"%
M0@B0CRSV@""N($YD>,""$F06Z\3-(G:CFWZTD8`\9*%`ZP*A&E!P@I[]HV$3
MV<]J(.,$APV%*+)A!@D$F(`Z?.%[28B`$-J(@'@A(?\%"MB:`ZH@)Q"N"56P
M4B'HDB`$,I0-A"B`VKS(8*`3F.4DZP`-/?PE.SX"J$#@0L`&4$#($_CL'+VC
M#!/'T4AWK`22$\'!$OAA)AD1X`T!RD+8*,@%`53O<0'`F"MIR:H[J6$&'?C"
M^"I0@7.B`4X(6,$&=I2%.H@(-;GD!NUN&+"$])%YLUJ!V=QT`CIHX2P-*XHB
MITD+A#WS(?D)QA'X$1T9U<$,9L@#`"RF!L=Q004?J`+'5B"G=F*Q5H/$U0A1
MA0`4I#!4J(K3`U;X!2]TR7;[U,HZE)(>:=+A#4",Y^@(20?=)0"1RU`DA1"6
M$4B*IU/Z:$,=+FJ&$WC!`!'_R((<6(8U`7P@#"+]P`;.=:Z6;H`+FW.5\S3&
M!31<`'1R2,*\5";'\\WLAK6CA]PTI##E?4$-K3(;+>E02&<ULAI/@8FO&KJ;
MB$A$0T.C0)GV````&,``=GB!1@GT`"Z(E%0K2$&M9M4]5U4@:^(*0#R1P(4-
MS&EY3FO5F[X@!R%H(2"PHQVAN&&H)V'`"XM;PP>04(66&A&`(G+H+QJXG6`!
M+3;1%,;2R+$$@VKALM@%P!M4*+HJ>*ZXJET!&;C7R:B%E&3>5($`SB```51A
M1TD@0.C&:J=-SN`$-ZV=2>QQMZ4\R2ED$A(`S-"&8B)W1$X11C@6RSO$LJ0R
MM0"'_Q5L21T#Y.&R0EH<"A"`UGF1B@LJX][(5+"U]AK!`0[HPA4<4``;T.`,
M*9A!@&:@`B-T@62NG8$6[HA+<.RTL<V(B$IBLP`4V,&@[:G%\"0Y-%^AI5+_
M#08]@(<!?I`C`6F@K+U<-@,UQ;-6'"97%:J@WC.8N0M=*,`5&"`"$1Q`!![P
MP!884``PS`M<83@QY,CU!=C]Y26PPU!7(.K,(A]9"XY"<#-(L&"`'!7*T?T&
M3JX"&7V8A0YFR@(!#G3%`-#J:VM(5_448`0:T(#--CA`G!N0@0'P80!B:$`#
M#E``ZP6@"AHP0BAO'0`A=.DC+[E*2:9A#8AVYI%3Z,"1C_]XL($LNLGYBHQ_
M*:(.@C@A'T==P@D,4-D]](B5.K(56K,F`!MWP09S/@`6/.#J`62@#R;P009:
M/8`&8*$`82B5`JY@@P)DL`H;`(`M%`..F356,T<S2`?R8`=CQH\"_U+P-!\$
M*?]6!('[$981*2M?'WUO?&[2&!*0<%X'T&`+(L!"K-T]`!,T008F>#6K^7"#
M>&?``PQP`-5H4`!_=T$#7'@`Q"L#&*+M9D40`-,NE&T`9B]!(/XE@3@2<*7#
M/K4;$T6'KZZ"Y=2MKT;H]#*M4I""]@K``6MFLQC<G0$?^.`&38`[S5_-AWC#
MG`\>N,*Y4UZ`&P<`!5F@@#R8*ZS_@=-'Z0:!P,+S8-!9#+`O4U<"S)X5S6X\
M:@FR@(P/"1#7&G7`M9VL`A)(;,$SG%S5LF8[K'T0[Y?SX`8R:$(&9)`!%L`\
M`UCHPA9F;8,K%,`!84##$L9#CW(@\S(Y@$#2DP^F#ERVJ#99,N!\]8)$,S4>
M^W$6EIMN!S-D`86AJL!8;:5>JZ&X``PX0`,&`.L&>"`#?,B`&#)@`I?+H`<W
MT$$/9,`"'82`!74W``?``+/&`'KG`"0#`$E!>(PE&<KW@!"X?)GA?`8`?4FT
M%!*7`-7G>,YF'%1W4#Y$59JF1EFT+@@`!AI`:BQV!2BG<K$F:ZS6=GS@`S(@
M`SK@?TP0_P0NP`0]P`0UP`(F<`,#@`49T`-\T``BD'.2DP73L#!5@3"Z$(%2
MJ'QP08&%Y'A0EH'5URM0)QO"P!Y:L`=UP'GVHE695"!91'X*<`9H9P,,D&X>
MX'XP.&_P9P+\QP(U$`(]\`,N4`,M4`,UT`,]P`.X)P8QYP.\9P-G(`2-I`W!
M4T.W$(53.(DYL'`5:%4!D84-U"!:@&@!T5N=XA\&\`9C6`<&L`??%P$1\$Y9
MA``?L%[GEW:I%H>IQW[QUW:P9P(A\(=!\`-!$`1%4`-!T`(L<'-8T`?KQWXX
M5P`KD`>V4'#8QCM^DWR3.(F6:$2]\AZX('4-\@*=>%0=:!=.\/\"9I`$S!%#
MW&:&FC0^9+`&2*``*+:"#(!N6-``8K!VLR<#//!R-1@"-5`$$N`"+B`!0^`"
M/_"'-:`#)H!RK<8`Z1=G!5`%9M`ET!@L0U<0U6B-EV4'1I50V[@=2N"-[0%Q
M008,3F``2?`&6I4%%@8`8UA"Z@1/T&-R:K9F+<A^;6<"@J@#/,`#/3@$$P`$
M<T`%$T"40#F,_F<"`[@%6X`%3#F`/_<`)]%H`#%`&)F14DB!3<>%P\`1(&E$
M(PEDPK`$\?4&<O`&`'!A6:!I,$E$4:,")G<%5T`#-M!FJM9V-<@#+=`"1=`"
M/^"+$C`'0#`&<P`#.R"85.`"_\<"38#_!8YY!2=V<C?F`&J@&I:61"1PE5@)
M@128!T?T:$Z16`V2!H7T:#FQ:$J054GP?6F9.BZ3/J'S`*TB`%W0AFIV`.KG
M;G:H`RT@`7SX`Q(0G#$``G=P!S$P!V,P!C!`!1)0!#IP`[@WCV(0/:269@5`
M2-<F$L""8-2XF0](!MA%!TEV6`JS'5ZP;;:$0!;G!':P(.PC!UK`+2ZC:2BD
M0AW036B6=FZV?N_&`CT0!!(P`1(0!$`I`51`!'%@`7<``@Q*!#%`D"W``_+F
M`39@`QYP`+I6`&YF`Q]``/LR3:W#G=[Y@#D`GALYDN39*=N1.!7H!>IY%!10
M!W&U:7O@!5J0_SIL"7[>PC&FYX9;@)NZ>0,L$`(#.00M,`1$*:!C8`$*&@<+
M2@0@``,3\`,AX`-B\(9->0`OIJ$,4#5)<`)D0755Z27=Z9TE>B^8I05'Q50J
MJH$7E@>]`FDDX`7HDSI"8```M#R<%U<O]%<(,)/HYF8>(`9]X`-\,*1'>H,'
MR8<N$`-QD*!QP*`,N@,3T(>T)P);T'L'`$8\5Z$.(`3QXV1F<3!>,@4C2H45
ML`?WD@=I$#];(65+HP5O^@)60)Y/@55R``!H,`.K\P+>MJ<I=`&;=%IKB'X_
M>@!BP`,Q5X,Z(`/Y%P),\)<2,)A$0`1CL`,+"@+*.0'.Z0.TU@55<_]!1H!^
M#"``0@``CB8+7G`679(+IYIT9(!1]](&R>5L;5HFET6KMDH!W_8&:Y(%=J`$
M><`<Z*-.;I5%`1`Y>^=F&<`#,F"HKH:7+`"@+D`%,+"<ATD%0#"8(#`'`QH"
M&0"N"I`"X!(UY>9>:F`&K6,6>].NIGJJ.9"J9K`'K+JF'3)%"7!=]\(ZAQ4,
M9"DC(M0!!&``Y^F2FX8&N]IE%<`%2)!K&AIG&?"#)A!GL<8'_.<"13D'<P`"
M#KH#4IJUE+J#3>`!"O`N*&!&:U!V;X0&!J"FH^J))>&N,%L!`V8&6_ET%S%%
M2I`&IR@="=!(VV@%=9`%JG@Q<E!55^5]`C+_`P\@FZ$6`&'`8NKG`3H0B-XZ
MJ._'`T4P`6,0`W=@`9'*M3%PL<LII</(`@-0:_)T("BP-0%@)P30'M2QA0+4
M2"]KIC';;5LIC95!`5Y@!Y2U!W9@4]Z0/-_G,FA`!N;H("<@)'*@(XU+!@)5
M!?"HH41X?SW@`X[9?BP@`=:J!Q9`G%`ZOAKKM1.@@T70`QZ@`;9"!LW#*N6$
MKM3!'LB%3+>[F;L0<#)4@=%G&OT1'3($/X_W6^FCDB)T`2IK!;ZJDD2D!H"E
M.4C`AC20<C[``R$0`E/+GS<0!`>*H!T+!#%PG%1`E'.P`XD9D+UH`C2P)@B`
M)P=23K/`#S9:O[8+_[,YH+]V2P=<B!/!<&W^@3H`$+`"L1L4H%4#MHHSX">8
MAXK,DU+BMP9PZ0!GP`#SY[!&*&LSV`,U$*!4$`-`,`%`R9P],``^$)1?/`1!
M4`-H[`%<0`!L$D-U("#HBFU>D#MJVC#WBY6[0+?=IL,7V,/)T[R5!:<#-!`4
M4%EV"VY%LC2H&"JE!"X)JVL*0`/KUK"T9XNN]X\N,`0$N8-B(`(.@`0!P``W
M,)`UX`(M4*D\H``$L`?KLR`S@`)#.PZS2\-^8\-\C%$&T![MZAN81P=`O,LD
MJ6#`C&EK^04O`!/*DP5?<#$35#GO*,7KY9!$6&^MQ@<Z0,9-T),9(`)&\/\!
MJ\(J:9*\"M``/4"D$W"^8D```^M.%P!8`!!Y\<G+-8R[,?L&:+FSIGD+4W15
MVI4%>U`D7L(!%,`M[[,';Z!1V>8%8W@@&(,`GP0&9U";U$D#+(@%N5F$Q@C*
M%7"XA4N]:G8&&I!F8N`#/V"Q/\`"S0@C;Z4C")`&5*$<:5!4-JN9&6D0%<`<
M`]:VR94>GE(F`+"65:6>G6(&:A,D%4@'3[<MJ2,'YH-.FO-1[14]8%"L+1:'
M`]`'?$`#)`-#,R`U5]``.D`%2(D%--`%8L`'0V"Z+*``$:`<>1`Z*&`#;7!M
M5%=0Z=FN95J-!K$!4[73=\S#VK`$US6X[D,'5E#_*23@?;R2.P:@!%UB!=RB
M5770*U[0!GF`E@J2O!#M36#0!>OF;@P0!IMS5B!3;EL@!C4``Q+``QB-!7P0
M!$`PH"U@`RA@`$N0!Q&``ER`!5F``2"9!@WW<$"3*9HA@3?,'!>%I_?T$82-
MBG*0(';PM^.A!/`#$"]0)`-172X9S^J@;:`"`-.AP*#BP!V@`@6P!2;0`A3Z
M>RH01QT@!TIP`BL0`1O@!TW`@\K*`BU`!6@<!!Y`!GNP!`!`!J2V!;^]-/Y!
M6&K*6!.Q#(Z5#,40<&AIMZU*U!G7!M!MCO@"962"0,G3!EZR`$O0?6:@!<#M
M!4F0MFL8!AN0!+>%>1NU_P$.@`4FX)L)20,?H``K0`,;D%$'<@`($`8#P`2\
M2:`$B<8F$`8`L`0&L`%:B@5[@+.R:F&LPTB[@1&($F0+L`&DN-.L(VT9EV4!
MDE5[H`0\/!KG61*TP!`)L`=5E0">L@</$`8%$(<%@`"[8@:SX`4`T`%GX`$\
M8*"_N`7NK8AT<@$*(`-;X``V0*0N$`2F.P3.R0"@F@<:T`)P]@)ZFP9ORCH_
M$R4:TEN^X-=?CJ?Q,W#[805TL%&7E*LO`+C`PU!7,1`YL`!>@#IY4*L)D`4=
M0#)H@)9/(%=RL`>TF@<SH``>T`/'>;Y\X&_E=F,JT`4'<`,MP`3U%P+G>]+!
MJ?^86-`!-'(`/Z`#!W`.#8)IS_<V/*PH6MX.7EY/EG7A0[SJ)P`J>9($`)`&
M4,<,GJ)H$,`!@DP')?$"<L!.:I`'1S4D-$`&%V86$0`&!\`$26JD6S!R,WGG
M/N`"13"0J$P%=R"8E8K*'F`@7+`%33`$5\!HRK%M&ZGNR=+N2V'J=1#O\0-U
M&6<'<9PGN7H"@M<AG?(3.)`#.%#O)SY-9B+@P_2[=4`&I/T%=0"G`!``!\`"
M!7J^H^TX9V"A#<L$_(VD1/F@0,"<0<`"#3!"5^"804`#&3=9JYID`_3R\<`,
M7H[/=IO7"G%MF?W.>T(`/,\A">$$S)`#)&`'^$RS]73_`=O5CK'\CBXN8Q5H
M!F30!0/`AT#9`CY0`">6:F)P`SU0!&L-`SHHD%1PK9Z/NJ'&`S7``$S0!<`C
ML$']!F9PW7B+@5*B%Z;^!O=B2[6*$ZN.DG`R3'<J>*->&9%(`AHUANQC(WL@
M!Y^W`0F[/1U0+W9K!@\@``WPBP5JI&+@>UO@`290L2,L`?HWD$()!+^(NNW5
M`B%@`S7@`.!`YNCS!H]]@83F#(F""UX^53G<*WT#""1.2V9"9`@K%3-U2R0X
M'!PXDC@8%"133G1[=5]"$4($0B@;*0(*IT@H<EEO>WMH`@<M3#430[9%/E@B
M'@TR(2U!L[=40#%S0RTZ#0(T_T,\5WT.&$=T=4E?$01[2DM..%,Y$#GDY3E3
M"PN0D!MO;W4`>R=>5D>.@@EO,P@!'P@=2:R06#=)TA%P&$[L$5+A@9H90AZL
M05!%@`,'"K@\N!`AWIX9`K;P8='#Q0\)$H;\Z,$GPX`!-WBP8%%D`HPY1&+`
MD,!$AQ@55WALL=%'`0<*!@A\N<`1@!(*&!9`F$JUZM1SZ*:T>P?`P#QO)$A@
M<*(D"8H`*@1\V'!!R:-UD7`(ND0BS9X(*#JL"+"F`A<5"HP8$<"%3(<9'0V8
M00.&`9\^+)C\"!(D68\>(6[X:"*CA8L)$W;$`$%DITPQ*6@,E7'##P<K9B*@
M>?#@2_\=+4LP<!!GM3<Y=!NR9($GCYZ3L(*\?*F00L&9,"O4M!D(J:!8)U,X
M*-E#8$:'YF!2(%$11H"`%`@V5%`#RL">"Q\*-.#S*XB+E,):%.FA8V:+6S``
M`<(8,%`1A`DZ^!"&`R8,$<0-#VB7Q1</H*`&&G*DD9M4O?EVS@)K9$'`&UV=
M\$(]&%SWPCYAG(%1"F2<X`A<<9%PT`()Q(8&"BD$D$)Y+2J0P@I<<+%!!P]$
ML`<`0JS@P``\Z,!$"Q/D!`050[C`!`^2#7%+#$",L0-H$NC00P8*'"`!%2[P
M(*,7<NQ(!AEJ1'#"AAUZB,X:!(A8QQYTG&@/!M1H\4``9US_84,7`JR1AR0T
M3F*%$PM8\08!9I&QQ@>FF%?%!U6D\$$`&\R0!7=HK&%$`RR$4(-]1?3!PP^?
MN9"E26O&L`,($[@0A`0U,.%#%V(0*($(D)SPA1H5I->!$'E8$56>5F$%(@%]
M_IG'"PG8<YT6*%3A``-;7*$``@;,J,XCDU"0@!-'["%B$LRN\$$**521E@!@
MJ!#``P88D$<6**C0!18LU!"E#R8,>X4'/-3P&16[@G`'$+8$H8,$0?2`Q15B
MZ!K$#!#@<((H:ZRPQK,&Y,8!M559BX"((YIA0!L)0/4M"DBH)H(-&>WAR%O5
M&>1%S@;`0\`H%?@%1K_FJ9!"!7+0_Y%''@2H:H,8-]000@@RR-`'#15M+4,1
M5(P11QQWS,%Q$#4,480,6)QQ`!54\.%%#CC0(40'"'"!`!EHM#PMS%>A<RVV
M)!J@1<XI4M-&!RH4L,4!#!@1@!G4$22)6"]H>`(`=.B#`@ID<)$"&$""L8&2
M=@@<00!7,#!`#3^T$$+N/1P@P`IAT"!"!KNO:8L.L_SJ0A,>.-"`+5WLUO<%
MAP20"!I[)!`5;S!_R`$"V/8)0!YI/)6BC9,#=8`'##CP`0`SPO4Y"4JD00_I
MG*#AG8\"A/'T"F@P`QUB]Q[:>:!!$B@"$U02@@QXX`PKJ,(9MM"`#/`@;#U@
M30:84`0>8/_!`P7PP!Q^@`9RX"`/U-O+"DIE!B4X83>(&P<ZOD<`.8C/`.73
M&35>T($PV.``#1"!^P"``4B]97Y+T,+1`@:`+'P"!5Q`BP+\1;5XG.`$!OA"
M%2SG`PGL0`(LL)VK!L"'*R!A#6$HP/IZP0<3R,`$)HB8&$1``QH$`0I2R0$)
M#(`&,NR%+S-PRA%@B#CO(<"&-BQ1SIQ`J"-,SH=8"&(7JE"'(AYQ?H)X01Z4
M8(<E`4`.$9"(ZL[#A1GTB0!F>,$2[$"&P!R`![Z2B8,XUD`1**`"$F1`+PZ0
M@1OP00P^8$(#&$`#+B0!!U?98Q_YP84U/*`.7O@&]ZAU#D@@(`G_<EA%B9["
M2'AIH8<_]``=4U!)2,5E?AA8@HD,```LB@@-&_"1"CY0@4Y$0!MU()\<$+`&
M%6!!!B4A@D`G0(4$9J`!-OB4`[;`BP9XP`98X$$+9"""`ZP!F>/0(PJKM\('
M..6%T\Q3-3FP@FS:L`Y>28`W&OE(-6*A?2G(PC<*@LFQA"X-=%""%K@3@=15
MH0I<Z(`:+H"&H<Y`#7E9PP@0H`$L%`$&%H@#$&!`!"``*TH>T``2+,(`!F`!
M"WQ(1A"QT`$8DH,$&[47J9[Y@H.$U$/J^)Y)":!("C"R$N`"2B2%2,GCT!2=
M&+""`91@A00DP`L`2()>/K6".75@%&0(_X`&''"&!DB`#[:;P&C&,(<YQ`$&
M=YA`"W@P$J`YH`#"$X,8F"`#H6SA`5.X"M\VRH51.3,+;<7!6WT3UQ5@\Z3%
M6<(1"$4!+:A!?>)T0%^'9IVP$-<K6%1"CLQB+Z#R,Q$!`,,$;;`%$Q#A6":`
MP1AB4"4@W$$G$N"!"<3@$@T,90M8<&`P0]"`*WPA'!D]80H_T$PU9*$-]M@M
M5<K1VR1@LT^`,DXCO7#<*ZQ/!)/,@CWD0F&YB(50&$A`'FSF!2UD$9=A^,`*
M]K(!!#2'`0YN`!,L0`4/W*!`(`A"#'IP"SY@=GT,D`%$!]``5K'@;"TP@0@B
M@-]Q<(`.^^6+&O\(D`9+Q+9[U<1!20_\IYP*=RQ'4$*#UW>`+B"!`(QDKH7%
M<F&RR,$5"0``SP10``%T``WK08`IPO`P!K@`!#%PP0VHP`07^*`&/!9#&+A@
M!!78@`%!D($8^%.#'\M`80,0@1SP:T(D^^4#_D`!`4X`E2*+-`<%-K`<JNP%
MX3*RN,=58Q!I@`0Y##=%F'2N$V9-@3/O(2EDL$B7R6"("P@!#`[Y0!?`T(`;
M!.&``Q`;CS,``QUHH`$#,$(!^%`$%F3`!S^0@;4SL%XL;$$+"Q#'.?:8PD^M
M015VV)"`,PKJ2'`A`J*N@QGF40]:MT$-*7#P'+L0A@@,-RQR.=^%,8S_@3S(
MPPQ9Z,`$^W``(YS;#$N@@!<40X`+K"$%&C!":F5@#`L4P0,9V,\`L&`"A85`
M##^0B8U]4@`C4(`#X4`'!CY2@0A:KP-R,`#D8#Z%GOL\'7&E\+M_^P8SV($>
MKS["-]/XX#8G`2HT!;AS">4$"KQ`"R?0AP,.,`"?G`$,9(B`%19P!#G,``5[
MZ0(##J"#">@@"-!6,4K&,(22Z``R-Y"!C3/(`P]XP.4X6(#B,&"`!VS@`RH`
M0V&4=+0C'`<YR"%XF$GPA'MBL^AY*/5PCR!Q%/C0`R._@@#\;4E,4F+@A$I`
M&I(2`04,+TL-*``84#`#.2C!`#-0E0+$@-HM_Z`8"UU'"15B(-4@P$`&#=!!
MMGUQ@S[X`-I0H$#@L;+'W"->!5RH0$>X10''SWK61P@_Y^'E^",\(1L1L*$9
M,F\%NU;]!9ZW`>@](/HO#)?"]W`NZIU@!;MD00BI(0,%Q0,%$`;G]@!"L!0S
MX$>)=P8%8#N>D1*:-0=W<`<RQ@,-T`<2X%`9@`5SM!D(('V"APXDL`<2405A
M0$5?``!:T`WA!W[P`B\4T'TQ2`'G=T^KL'[<)X,,]GD#0'\"8'_G@T[Z%Q:S
MM@2W1P`14`$"X`$2$`,\0!CU-`,/T`%^5`4*X`"J,0`L8`LN\(55L@-`8`&@
M$0(#8`)!P`?KTP#`]_]&#R""/;<`)7B"_A,`%2`$=?`"A-5]XC>#,QAQXC<(
M-PAO=.4XBS0(+Z`&/OA0&O`%.O,Y8[9_LY8`!I`$%S`*1B`#$\`'"K`!*+`C
M4!1%"Z(HO;`9/!`$M"(!<S`@(&`@-9!W/I`!Y"(&"*(#&9`%<$B")K@&*.@O
M&R`$;V`_[=>'?[@$QNB'@O@%RI@$A9@&B\1Y/2A_H=>(__97D#=P@Z`$3L0=
M88`%#21[;T8&X:$`5T`#H.<+%^0J,@8"<R`@<0`"!3)1`^`#9,0'7'@9!V``
M+S>""X`#N,>+*5@%;)$%S@B(WQ=^?SB#X[<$YZ>,VM`5SFA7E:`$#V!H\V?_
M+D(`==81B0.'#UD``'`2``6@"UV0'G:X(*CE`7V@##U0$P4U(..U*T0@)E0P
M`3=@`MPV`"[@-2$@%/H8>#['`84'D"&V!A?`9-W@?@?)>3,(@PSID`^94NXG
M<15Y!1Y(?QJ0D444"9$@=9`7.4Z0`'9@!@3`'FNP=@*P`8>W`@+0!1"E:"T@
M,2[0`S"@66,P(#L0!S&PEQ(P`2'`)CV`<D'0*B;``&8@?>%0378@$1\0D&L`
MC'K8?M\WF0CIE$\@!`F(32A5D(Y'`12I5V*`!4!S`1/&+LUUC8WT`GN`4UD`
M'PH`!B*V`DB@``5@`XI"1@-P4#X0!!/0ETRP)FH3_P=4D&VVT@!<QP<I)P,#
M8`,&<`3A=A4+0`<SL`$5(0!5L`8KZ(*=(S]CEB(VF(#9,&KRH%+PL@1>,`.@
M^5`*<`&60#3G5&%?F6%FX&%F4`=]A`+\8"^GY0"UXU4NX7<LH!)94B4Q<`?"
M.00Z4&U^]T$9)$PVD`?8P1OGD`;PQ"EA@!Y"``#U``[B9@[E,$,<8'Z8&9YO
M@$/=<(3G"096*0;TMY[MR9U_-0EA<01)808`8`>)]0`KD`+]I`"F<`;-<`!`
M9)PWT&<N``,Q0`0@``(6$`,2H"6;X7MQ-!,-0`,G@!U5,05>`&>-&0;7N8)X
M$D,]YP27F8#I5V4GFHTSH/^B5VDN:#!A'!!7U?&>-74"JY<'='!8`*`&:[`&
M8!`J`J`"&0=$O2`&OG`+.X`3>O".;.(")G``BO9/,J`#/#``!6``6#I@7G`!
M%8`610FFAU-(4X`!E]D)ES>>PC6#2K"F5OF#HRE][@FCD'@/5O`"=H!3)Y``
M@H6?J:,6/W(&#&"<?N<2/D"@2VHQ$M`$?"`"5ID!87,#+*`#`[`%$,HA5Z$$
M#.&I:P&FE+)N`X8)3^!KV9`$K7`")\IYJXH$*SI,"C`#+YH.-!(7[^D(1Q`Z
M2O`"YIH`)R`'3*$&"#`#*]`%!^!M/,90OS0$>F`!%7@QR%=&PY,!"J-M#70`
M+O3_G-=J"'\Q3QNP@I-"2-VS`$[P`1=@3TF0!?-&GD>`A&LJC>PZ`[GQ%D`7
MKUQY3@7G!7I(!X.E!%U!``]`)X#AEH0:0I@Q!!;P!W]@`3O08K1('PTPF-JF
M;1G0`C,P$-R3`PFP'%S`.MM:!]WBL=0$KD(@KB5K="Z8LJL*!M(H!@QP!@_0
M"(\`='`;K[-J`%[@!4HP<3I'`6U@`$*`!BN@`#2@1C8@`I'4!"'0ETS:I,'2
M`#[`!S=PAC6@;?VA`WP0`S;0K0-F!5^0.BJ@L5_P!AWKK5,QIB(KKMI`MMY@
MMBM;0=-J!&H@+6^K#G`;LY[#`2300G5[MUZ!A">0!6:'_P1:*`*UV0M!D`%A
M,B!Y9@),P`>;<6TST1-3$@(]0(8)H%N9N[D9NQ9"D`7=8K$?ZP12P!28R8PW
M6FKEN:J&QK@#<``.T`'2`A=Q!;>*4S2/,%BYJZ][8`<M:`=*40$%L'6VB07]
MP0,4XS8_\+A@`T=\T`,MT`->\RHA,`%'^P:'0PY7FSK]X@]XV"W66T@@&[[B
M^Y#L%WY+D``S$`8,0(L9T&7NJR[Q*[MQ2KOKD+,O4+<*T15UJP5T0``JH'&$
M"WP^P`-?$P2Y`')MU`0^X,!,X"HUT`)Q&0=&BP+'\616B[WD\0%&R;W21PX>
M#+Y,(:Z%R'T4@(0/$!)B@,180/\#%0"[D!"WLRNGZV`B-JL%:7!%`(!*>&IP
M=4`]@K-58.``-N`2T.9&3=`$&>#`+,`#1:`?+D`E1OL'4H!AX38%%^RI58``
M1_D4ER"Z8PK":)"`!(!2@F*V93P\;P1"&\#&\;L.<1NOM3K'`V0'&[8*=5`'
M%;<!K+-5/GH&9U!1'N`#>@='.A`"9M+$(4`9$E"T1JL!&.8(E+RY`1`&%XK)
M!.`%EN"](O7!:+#-H"S*.3/&%!D2SHI\5X``2K"5LQO#,BRO.*"K]ZH0@)(4
M-80-A](,E*6%_'D`8G"&>8=!/2$E1$PK=_#(?Z``8T$H8?$"#,$%2."E`&1[
MU\S)F"#_!=L\`R-+K@8@QF2L`::L:#:P`M$4N^HLIW"\#E-PMX?U`NQD,WMP
M*9B)GVS6!0[0!310.Z#G`PQCN$5`S"%`"S50"P--T,Q\5]Y),'\QS1BB2B2`
MS1T":N`[`U!]T27Z.#-H!>&<PC?Y4%S@!2X<PW)+(^&@%-+E!:,S'/$``'A1
M`1\`N$-Q!5=`0=S6!#&1,"'0*C_=Q$$`Q03]!WCP?0B-`TY@`!?`!6&`!`B0
MU(W`U+SUU%$M!"6[!U0-SB"Q!1G``C=07R"-SFTL/_$:;N(0`2%RMVE@!ME4
M=*3MKVO]@%NPVA[`-8G<6CI@)B11`T5`VV.PUT9+!G[ME4YP_S(5L`$84FI+
M+=&,;=&.?2J17<)H$`;#\V.8K06:+;/PFYCC,-AD8`9D3=H&=FM[C`!(<`:'
MQMH\U@3#W!^2"PQQ&0*WC=M_(`?-#'`TY4@``))0H=A6,:9^`-4/\,F/'9%C
MG`!"(,X_)@8?'=*Q.@G3S<7C<"@!0`:;EEB?(&^Q40$&(P*7H\_S"%"7H0/0
MRB7!4@,QP-Y_$`/O@M!%Q%R.$%>"<!Q>VR'H<`0C`-4SP-^GXM\E+`1A0-DS
M,0`,$``&7C3O&:?F,&`=$`!5$`"'M`=Q4B<U5'%<X'I`E)N0,:D]("QQI`,U
M("4@(.)_T`<''3GP71!Q^[:)^:&*(_^'.$`!(T`;#V#1$5#C28F$.*[CRMGC
MT$T=?R7D0SY@S+$ZZ-$G"_AF(\L0*I!:N1DVO<0#I-499I+77/X'T_#>8D9A
M;4R[@J<.D1>#CK<$:][F_(U*N6J,2'@!*K`%7,@"/(X$5RIFE>ZA"CZZ*\`Z
MYF&`H!19GABV'?`!X_++-]`#EIUW<&375*#,7+X!DL[J"#[2,:L.@U!85K`$
M[6<%?M#F,\X1J)2G$5?"%X#"7%BI6Q`&F+J5;5SFY7`55<$!*)B%-&T$8(`D
M]J(1EA@`1N!@!V0"2-P$)C``7#,$6_[H?P`")_#>%69.1`.O\QMT'%`)V>XN
MT^[IGD!7YIK_[=@J`,.C<E@@`,U91.E`[N7>(1Q0"F=``]QU`'14!6H=!L"-
M!ES@`+S@@;F9`1E@J!E`M/YNM&5`U%YI3O):Z9=>TI\S"$@8XYYN[:03YQ-_
M`";0TWV`!0JP!S?B<T/.Q6\U!7)&FUO@`7P@&29P!M$L`*0"!B&D6C_8"U\E
M!C1?\Y#<D2?.ZI$`=%D1AYOM.7@5XU"-!M8N0'%^M;&@O$P@9!^PCSY7YNPF
M4L<%N"*P:%10@1+@`8%!`P(`K"[?`*I545U$[/Z^`X]R85*7[)!`'6Y_YO#[
MGDX@]%']D#GU[%8=`13/;5L0``8`#H%/[H/O&Q"0!=$\+@/P`T%]_[0[(`8:
M4-,-!7QJ*`(]H-=H_P?,?(U#,^GR*K]Q",=!)PGY387[_05R<*/=`.T)$`&`
M(0!DH`0PY_R"W_$><@(FEBABD,Q[;0%#<`6G%:R@-P!7,`!W8/G^#@*<0V8"
M-_`S"P@D.`L+4X:&A!R$BQP<.#A^#S.2%U]R`'1*5A0)2@997B2+A1R'ACFH
MJ:@0K*VL.4L5`0H%#1-_N+FX<4T"1C97-`QL<;K&Q[A#3C@DS208S\R/.(Z*
MCX13A=FC"XJ)CB,/XC-HEG5Y2A1.)(W;V]B'J:^J.:[S3F0K`ET>M\A_%JA(
M@"$A0XL[_Q):$,'!V2-!@J91:]2-FC93[_^X=0LG[@$:(4GJG#@B:E0I;J96
M0:!7S][*'!C((!#@`(N$7!;N6`#(1HH:/`J,%)BQ)>&_.U(60(/6C%E$1Q,5
M.8*7\20C11S5>(P`($%)=QH1:5-)[Y4]5!@JK`GCX$"+8A:($-DYP`M3#!2\
M>&)B]-B$+PN<.F0&]1'%;NTP:M.X49S6)&U$3?&V2&PVC%-:LFSI*I63"@C8
MBN`!XPX((B`L2#@QA1D&O%X,&*@`HJ^NNE"C38M(;6*B1X@R,LX6#@T!):40
M4:Z,\O(JEBNCM_+<8448(ULR!`$RALB=.#-0+2#AY`@=`%D`4%"PTS8(/QBD
M-838<%HCJ=],51;_?E]*DB7)'<+(*`)>=,H\T'66"@G5J>"`"`/H,-`8>@R`
MP4J!D9!`&@`04`=>9=CVQP07S!??;O:QXTA&U!2('V-KO!#@@(D02-4IFJF2
M&5DOH<*@=0\.P((+,(P1!Q3UY!#8$2]H\08!>SCQ`@WM&=5"%HX\<Z)\[$PT
M2#??+,88-W(42".![J24XV:<12?>`US0!*$./TP0`QMV+/`*#DXHD8<<;YR@
MA1H(\%$E,A9LD4"6S<176&^]U?A.#F)UD\U]8$9A)DIA7406FV7I*$0`^XC`
M!Q-U[O!$%@:TQ*<5>QAPCAPHD)'"30G%\`$&64)S335>3D4@1<(-IZEE_\UA
MYFF..X+:(Z4$?*!`%P>8T((+$["AAAHSG,`*!WW688465B3!Q1D"8'&H,44(
M`>EK3_5FS7V7UDAII6,>&UPA%X%I8#R<@2JP&4C0@H4,-0RQ`PUJ;8`"!1"`
MJX49)Z1!`1@>9&"#`$,D=``=C#[45"._XC<9-O=>>IA&4:3\;X'Z+:N@P#U.
MD0829US1``]%2$`$&`%\$,`*$4"PP!%YR);`"U@$X<(`9SA0&S)^'`$5O+FQ
M$QBF%"ER2LPV)J*OLL)AAF.;]SJ+RA165/%+A"X`\0,20:?P`0*9.9''&^<H
M(0,50+3`@`(>($,$&B)+$Z^*^%&DBDGW?8E8-_\MIZUCL?MM-ETJ9S.+00!G
M,)!!"!+<(<,97*P0P-`83$'"$G:8L4<:/8P1@P1BT*"`/[I(``#)ODH$J3?W
M!2B65,O%W/+7G)MYF8&:K]1YJ).1H0`#/M0PQQ@MB!#&"FL@L`8!$+1V!`56
M>"$&"#NXP(<'##2P[@"+`A^O-!9-)ED\RE7#'",DJ!REZ+$I>`PP002$3BH6
MD`0%B,`$0[!`#.9P@P*D8`T5J,`%RH<#)7C!"R<PPAQ@\`,6^.Q458J#`KK$
MFX=$Q3"(R0:E^"45&%)E%)6;W@S1=)EFR4-Z:_/A#U'!@3H(@`$W*,UI@H`%
M!:R`#&0@7P[,HY<7"&#_#C&``1!V4H0NS"$7$^A`Y!Z2&]_4:#\NHA<\KB)`
MEA0+(PA,F;.DMP`S5($!?9#+'>X@@0$X(`!0E&("[*"%!"0@"6P8@TYP084S
MR`\78OC"HUQ(,L-XC1%I=(H9!\0!.(`*9E0IRTO4Q*9Y3,$`&[!!$>(`@M3`
M@`<V2$$%.I"'\BVA8EZP0@)0$`2$X.(.`^B""_X0`P$0H!%-\5)4MN8U0Q`/
M,1(AEF(6X,G-E`U@/Y2>V4HYRA-4H``QN$,,O`,$)FP!"14@0P*,UJ<3),`)
M2_""`\:@BS'P`0M`:(``3@`L^U32(CP\7C^)M<9&M)&`^RJ$*CK#O\PT2XA)
M_Z*4%Q!``SO-@0AQB$$1L!"&#3R@'N/QTPLVH80'\&X7N"N``G@EGRQ%Q7_Q
MX&%%A.<O9W928#W$YG1PA`@=E7)M5EB!#8)`A1VD!@2XTT`%DL`*UR4@#R=0
MPA(FI@-C6&`"#;@"$F8ZLF@6SU(.#<XV7KHL1%33FN_PFDJ`2$J(+G24^+@"
M4>?RASA,8``*6,,27K&`)2CA!2#4P@NN<*@[_``+!1!":R3RE$I>LC(I4TX+
ME_,-.#P+H3E=:V2_YM:W+F@&-&`"#(I15]PI0`TM:<WK/&&`-+R`#/3$A01#
M(`('L.91A2G>.\A&0\8U,ZR$L"Q:,]*LG7*6IYVM&?\'&JB#+?YR"!Y0@`%:
M,04G<(`"=#``5%]``%P!!`9-L($&&*?)?P[B)&J]%[\J0K+?JE<1EG73Y5"B
M6>"&%;D*O)<9PM"''>0"!"TX`!)P,)U!'"$!VH6J&4*`$]S1`&_U\5)CJ^'0
M&QW"$?$9&9@$U`@WG*5Y<%RK-N_[T(>N24DO"``?8DM,'3`@/)HY6BZQ"]43
M%`X7(##G&0@P&10U)+<U7=L."7$-Q!AO;?SR\,R0#%D1!Q&;G97'O2BP@0$0
M(1<P8($-3A`P',13"TLX@AW048!<[,`'-!!``GJ,HA?F;Q&;S<8SH+(R@>)`
MR4N.\XZ,>S8HBQ+))'C``*;_]H<Y].`,&(@Q"2B@A!.<@`)'V(0&<D$%+)PA
M!85P(:1>2IDT]3`PNRD)6/N'9P0-.90!`[&J%?B2P'S!`X2>@PP^RAD.X&5I
M475"`KRPAJD-X0IA0(&20FW):CRVTP(B##/%JMYNE-K4^!H+0WLH1R%[5KUO
MP((O_P`#$>RU,QPX@E]?L`0<=.("N&J!`JJ0A1PPJHS%(V@B<CH?2F**&XV(
M[^9`?*/Z.C2(3Q98-_(@`M*J)@"982@.#FP%#-PR`77HPTY8D`(NT&&QSOCG
MRFK:+SK'&XTT7$`4/LRY9#F9E&G#YG,0HP0;&)P%;W"R(LCC!">D(0]TH`,#
M:L,#3P1L8`D9\C&GU^L-#OOSWOOYQLCS;#9"G!PS3^[<*">SA"[X,@Y86$*2
HIF-KI2S!"B^@0QZTH(`O\H`,,\``J(/WE&\(BU]I%=F$*8N80```.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>c16419c1641904.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641904.gif
M1TE&.#EAJ``E`.8``+N[NT!`0$E)28:&AEM;6[2TM)24E!P<'*.CHZ:FIIB8
MF(V-C3$Q,2$A(7!P<%U=79:6EM34U!D9&75U=82$A&9F9CT]/=+2TL_/SYR<
MG+V]O6QL;&EI:;>WMU%1455559&1D28F)K&QL7M[>V!@8#0T-*"@H$9&1FYN
M;FAH:-#0T$1$1$Y.3DQ,3"DI*2HJ*G]_?V-C8ZFIJ0X.#C<W-RXN+F)B8@4%
M!145%2PL+#@X.%A86!$1$0$!`0D)"2,C(\#`P+^_O\W-S?3T](*"@OGY^=G9
MV4-#0^;FYIN;FT)"0NGIZ<;&QH&!@>SL[*VMK=_?WZRLK.+BXIJ:FH"`@,?'
MQ\'!P</#P^'AX>3DY(^/C\O+RWAX>,3$Q/+R\HZ.CJNKJXB(B(.#@\+"PCL[
M.\G)R>7EY;BXN*JJJG9V=O#P\/7U]=K:VN?GY\C(R-O;V^_O[\K*RHJ*BGU]
M?=;6UK.SL\7%Q=C8V./CXU=75^KJZE-34\S,S-S<W%Y>7O___R'Y!```````
M+`````"H`"4```?_@'^"@X2%AH>(B812!`<-$B4""4Z*E9:)0U=`5U"7GI^@
MH:*C,0%5;'%``C<UG9X%'$:C@W`T-STW#2.SO+P$,S<^`5^]O#5+A4P!-T"5
M0BP]T3TU0J-8+A(#24EA(2>4Q>&6-PM)$$0\-QNRLW<4,#!3EV]$B`X_4HE8
M-PQ/@QD]FH&"TJ!%H2%I#(A;F`A$(2,$&B00!5$8D0$"CE@24@\1@0&(D-2@
M8`A,#W:>"-1`8FA(`&0,8PX":6B)GQ=/BG@RH([EH#@:%7%,!*"$%T-%/*Q`
MA*+"IP(ALB!:T%%FS*!(H[A`<,F(#Q.'.&Q1U(;FH3@2JA4*<D"@(0@'_SYQ
MV9`(20"K,G<<173AA$)%2;D@@B"FTHE$3!J@'$3@,"(#<3W]8*+H!=Z84D0H
MZG*`:Z(.#88@2E+5'E$EAM;0F'@(2P@/GWZX.J1APN68.WPB,B+!K:$C9@TU
M\:=(@;Q#3188*L.C"J(!/;1\J@'N4)[%MXM=D>/,AVA#$7#X)K0D<B7SA0ZH
M)62%QWI#)#\=L(+(A(WL,2M$J$0A^"`@+NA6"`%@7#+%`X9X\,$A0N#@G#AB
M'/$=(7*X,!M^X;`QAQZ5!("%(6[4@(<A7E3`P2<5'"<(`CA0UI(."BS$1@,>
MC"&(%`@$D$(^A;1A!Q!1+!`$$$0&$402"\A!0?\35%#11!-$?%#""R^$$$(#
M!VR@TT)G.%#)"+OTB%,A653@GR45&*!3%S=DD,@<+D@%2@0*P&'(%F3,<(('
M/X1@@A!"=$'D`A\$X,(-,P`CS0TE!*"$!R1$82210(PQQA:`EE%&%S3P@$$E
M6XP!A)%!H,$!`00\P$$,@Q2AA6>("''$7H1L<)<@:B!0@A9;?J("#1,`P(!M
MB621PX*?3(%##ZP-@D<!`O2@***)!C-#"4H0("F@3'!`11!=3/C)!S-\^L<;
M51@)0F-*L!""$DH<L2<!"1AIA1!N$.+%"OLA4D0`5QA"QP%:#/&,`%;T"DH6
MMM`@6A`>R*"&(6?@T(3_@)CP$(U#=P"AP`DUZ/#!$T)4,2JI0+@AA+CB@,&#
M#RPH$<`!$I!QA+9`W(N=)5`$4$`B`=`0)B$=]%#"#&E,7(@3!D#`\B%U3/`#
M"4Q(T(,$:!S"1`XAQ%#'(4,D0,$#)4A30P`2\$!%$F6L@6$A)_@0S0%4+``$
M!@KW<D2!AIAQI72#(-&-#A;<,L,+'$R@PP$S2'-"LXH8$6T/@BF21.$W2'!`
M"0<<<`L/+31QQA0Z$$!$$M6];4@+(7"!P-,+>:#<'S`)$D`#'R[Q!1DW5`#`
M($*$00015`QOP!!#9%`#"Y\PL0%QE@!A#A%A)/&>ZMA?@@0#%2A!K"!H1',#
M]PX!P'!]]NBGWXL3"RBA0PYO$%+`'CGWJ_[]^(O"!PT;P+&&#$>8306"D+\"
M&O`27V"`9@:A`!?TZP0$/*`$)_@')SC``1\JA+!,T(<0/(B"(+S?$$B0AD0L
M00(.N%4(5YB]$9(`=L"[`8)82,.W?2%`EBA!86K(P]N$X`*6&,(+[-##(LH$
M``2XA`)F9\0FAD,,/[.$"\S@Q"KV@@@15`0(F&?%+HHB`S%2Q!4D4#LOFO$2
M#DO$%6:PP#.ZL1+]0(047E"Y-]H1$1H@`P`41@<(O``%=PPD(D#3@B%!3`(N
9B$+>!,G(+>P@!`<(``L20$5&6O(/@0``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>c16419c1641905.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641905.gif
M1TE&.#EAU`'^`.8``+^_OS\_/W]_?^OKZ]C8V%A86-_?WP,#`^_O[\_/SX&!
M@1\?'P\/#\#`P,7%Q2\O+U]?7Y^?GV]O;ZNKJZ^OK]75U4]/3V)B8B(B(D)"
M0FQL;/7U]1(2$NKJZO3T](^/CY:6EC(R,F%A89"0D%%148R,C*"@H/KZ^G=W
M=W%Q<?#P\*&AH;"PL+6UM<K*RN+BXM/3TST]/1@8&$U-35)24E=75S@X.`T-
M#4A(2,W-S:VMK2TM+4='1[&QL5U=72@H**RLK(.#@^#@X&9F9MK:VK2TM.3D
MY+Z^OL[.SD-#0X>'AP("`K>WMZBHJ+:VMH:&AI>7EWQ\?'9V=I&1D6YN;KBX
MN%Q<7,/#PQT='8N+BYB8F(*"@C<W-P```/___P``````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````"'Y!```````
M+`````#4`?X```?_@%V"@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GI^@
MH:*CI*6FIZBIJJNLK:ZOL+&RL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*R\S-
MSL_0T=+3U-76U]C9VMO<W=[?X.'BX^3EYN?HZ>KK[.WA#`$!@@OR\/)=\`N$
M\?/Q\0R$Z.'C-U#?((+T_#&P%P`@PW@+X`$49(_0@P`&'SPH='$CQ7^#Z'D<
M"%(01D$7(_K#F%"AQ7@>&4[L<O*@QXO^#HD<5'$@0)P&#:5$><]D0Y,C\^T;
M&6"C0*+Z6D(<-/0C2'I!+[H[)L&+UPA=!'BAZ15@`"\"!%DPX-5+`+%M_XN&
M'7O6BUFT:MEZ?=O6;5TO!N+U17NV'ES`'@%X^2`(`(!"BL<*@EOT@Y<$!_M*
M$(1W`6!Z?04<WDLHLA>P?[UL[H*W"X2^74Q++F09L\FR9.69-F#!D&+&L6<S
M\-H[MNVYA;P\YOQ8+#Z]7A:,[@P=>&H)"Q```.AY]=9A#!(L!^B\+FJ\KP'H
MV^C\4/FO9-.F7X\\<T,`"&ZGS=VE:]H%^#7F17ZQ+3<(?FYQQE91""3@A4>%
MQ48@6@P8@,!=<LV588%D27!66OAMA%=7%'`7G"(-/GB;:OPYU@6`+)8VX$:*
M#1+!911,%EUCQS$WB'+(O5:/?8,88(`^KVT68?^`279QXTS?!7,66(.\YR!H
M("8`97N&6!G=A\9M.1M_[8'9HH%@`I!``F"Y6)IB:7V8H&M>O$9EA.VA1<&<
M$1(BUH9N$H;7GZQE"=F8A;S6)%D)'+GD>(T>RN:)@B`0P0<$3EDI<#\:"*1S
MB@5UVSU]GHBG9(U:4&>4Q=0&`7ETH67`!V"V5J5R`'"J8WRSUKK?K8XQ=I8$
M%HBGWZB%OED@!!>Z>2``$1C0'P)]`G!D!!>2%8$`!NPW8(R,.N81H9`E$$!7
M@@$@``+>"F#F@;CJVMBU!F#8[:.#6'8HLS#>!H&JJZE)9W$_:N?8IV-E9RE3
M<W*9VY3<[A<``@VR6@S_`Q`XR-A[`JCZ6EJVZB@:!(5P[#%>(<\U,EE>`4!J
M:Q&&[*)C%0K@;&,`//`@!11$.%R.JO9V5J,&>'09`CG>MJT`!I$KXX#"`N:@
MT>ZF#*<`)!/R<Q=!Y\8MOH+H*R,#T-;HY(/AV689`Q1HF5RWHB&,$K8(&-2G
MPX4-;>1(-VYH<3!]<]R%`0ZF1;B8B`A..%Z'^SEFJ<>>F1F(C[UFK++:U1FA
MJGT]%C-P:%DF\9RW`FI@?*R!SC3AAR+R6E_G8;2X;I!**R.=#N(SV(YG?6P(
MD#XZ[-ER?99:X^>W_DV,06HR(/CK:9$XC_.()@\F]/UYD71$>),>>83^O1@@
M_X==(`#\LUWLF5^$1OHS=81M<V9X@I!KZ-OI8+8-T*"GS4.I(0@(3#P2@("+
M)*@K"7(1C+PC($'H)7L0B$=75A.7WWFJ.6-9"%FR5BHC(8E%\#N.PY3GBP5`
MIS>"ZT+A!`$!Z/"E@M9KS0I=X\+1""9#9O+988J&,Q:>KX>:*HS.LM:A""DJ
M6</Y4FAT9+I]X&582'R=5X+3%HNL2D<>2E`2==,6WOA&,IQ+G^T4I*/JL>:"
MR#G,=I`UC^H@ZXCU(2$P[#$1@2CE137I!W=6`B4[U@0K`3F*5!9R%*W51"(\
M(0A*F#*219I$'Q*A!Y2:@DAX;*0F*7F(020IE$;>L?\I-!'517ZRDD!.\@&(
MQ",I\\B1HOP#E"$YRAT+`4N:..4>'3$DE+I0%9\,Q"-/D:,PATG,8AKSF,A,
MIC*7R<QF.O.9T(RF-*=)S6I:\YK8S*8VM\G-;GKSF^`,ISC'2<YRFO.<Z$QG
M-S[@F':Z\YWPC*<\YTG/>MKSGOC,IS[WR<]^^O.?``VH0`=*T((:]*`(!0#)
M9+.[ACKTH1"-J$0G2M&*6O2B&,VH1C?*T8YZ]*,@#:E(1TK2B(*HI"A-J4I7
MRM*6NO2E,(VI3$-ZTIG:]*8XS:E.=\K3GL:TICX-JE"'2M2B&O6H&04J4I?*
MU*8Z]:E0W:A2HTK5JEKUJEC_M>E4L\K5KGKUJV!MZ%;#2M:RFO6L0ATK6M?*
MUK:Z5:1J?:M<YTK7NGHEKG;-JU[WRE6\\O6O@`UL4?TJV,(:]K`P)2QB%\O8
MQG94L8Z-K&0GN[NX]DP`#J*`:!PTH&U!QRNSPE3+!+`GRIKVM&55JWH>@%FW
M"`"57I'``[#SV0=8P`)GH8!TV(;:WOH6JVJ-QW0>,[/H'&9UTG*9HE+3%@3]
M]KG0#:I:-_.`SS*&7:SQ2USJ$A:54;$M*D`$0[T``P>8][P.>$%#T8O>AKZ`
MO>:%04/+"U\5[$X%\'6`?'='7_:J=W?Y=8![\[O?P?07O?8=#'[A6^"^'/B\
M_QU,_X`'S.#YYC?!?5DP>QO<E@>;-\)]F?#NWEMA_E[XO@2V,'Q!W!81#X;$
M&U8Q>S$,WA1K-*[%L<QEO+N7OPAF+&D1RU:[P,YWFB^Z2$YR2_'JH>$D0"/F
M`\M>I!C!*49`.F@QX>Z^J^0N>SFE:K50DXM67:]H"5,,B("Z3D.VQ_"F,%*$
MS7B_3.<Z2Y7+?0&."7\U%]W2"6048H!E`L/+SU9QSG9.M*)-BN?!3(>DC5ZT
MI"?=%LBB--*4SG2B+5U23&OZTU[F-*01#>I2(UG4(_6TJ5?M6U2+5-6LCC5E
M71U26,OZUHVE-4AMC>M>&U;7'^6UKX?]5V![5-C$3K9=C?_=460K^]EO939'
MG0WM:J-5VANEMK6W'59L:U3;W`YW7\%=:U*+^]S=)O>NS8WN=G^T`BCH@`?:
M4H$.>,$#%<AW!>;=%GS;&[3UOK&Z@\UN=QL\HR`H@`84X)4.H*``$_!"!R8P
M@817H"TN@+@&5N"%A$]``R5(ZL"/7?"#FWRB%2C`"ACNE1),`.)]^7A?-(`"
M+S1``UZX``B\L((+B+SD*1WYR4WN`05<0`,N\,J\8=[PC<\<YR_W0@4N8/06
M_!RG0A^ZR3M0@`(DW2M,Y[G/^S+U`BB@`%XH@08:8'1^6]3;&<VZU@]^]HB#
MW>XYYWA#5[!SF*?\XA>%.T;E/O?_<WN@!&>/=UN8#@(-_/OE^5:`Y-G2`IJC
M(.08Q:NA1UWXSD_4`P:H``C<+O5_&ZDM'=BWU%7?\`ILGJ*6?0MGV76CRXB&
MH:$]LKI*NV6@>_[W.%5K!."A)N7<)4<"``OO[2(!"0SG`V03=$,)#_S?MT#R
M^)9\ODD?>$P+MRT?B!/*QE)[M#R`8K$YEVJ8.T4(B.;]W*J^_"N:\H\K0.UG
M+X#BK]Y0QBR@_+&"`!"0$$>F74#F70PU`+RT$@.T.P3P@!#X@!NP.P,0@1#(
M8E[Q`A8H@;NS`1OX@`U5@1LX``WU@00P@8,A@A:(@5Z@@1N(@GWA@1\8@A](
M@@[X@3#8_Q8J&($LZ((6F(->(8,;2(,C6((X2($?V(-'.!A":(%$:($V.!@F
M"(1>L(,7Z%Y+&(,FZ!4K4``@T'@#H`-=UP0/>`478'7\UU#.1V15=!8"R``/
ML`"<98#=)62-1GWS=W!<]P0UX(5>T0`-X'8N\'H3A5?NDEVQTB9*Y!551GY8
MMCJ]EX>2"%%=6``7D`$',`7_!E>8)F81T8;:PX:S%0&:PC/E8P$Z,UO3YWN3
M*&DNL',EY0$@('D:T'4/MP+UQ@$'0`)F%@()T``94(`"AVA),S&@&(HT!&BZ
M!2,(L!G,LHJM&&L&T'5=AU)J1W$3X`(-``)?YP4'H``<D`(*@/\!!R`"NG@`
M!Y`"=V9N`-AIK!B-7A9Z"U<!#5``FQA24]>-NV,`!Y``&,`!&4`"(7``(8``
M;,<!#3",6/>.\/A<;"=Y1G<!%S!O'H`">!=2"@"+#M4`!^`%+,`"7F$"!V`"
M;8$!+)=Y>'A1*=F0B-4!"X>-$X"+;:$`%YE1\M877`=X#L4"'3D8GW5Z:3A3
M*\F2>]4""N=V*X`"W-<7)8!Y%U4!$T"/EGAO^:9S$24"&0!F0TE16TF49I5O
M@]$!^5>+E;=_%U"3@S$!)TE_U&AV!=`"%]!UCM=0P)@!`YF0*"5X*LF07IE7
M#C=V7E$!&8!T%:`!6>EP77=V][@[:HG_41-0<VWQ<G/94"R0`N4H>22IE7Q9
M;GTI60J@`1>`EU.7`3R@`"F@BPR7>D:)EH/1`!-Y41IPD49PEAO)`2&@CDO6
ME1*EFYV)56))C:\8FQ^'`[J(`1F@`"*I`"2`CH3H!2.@`"-`!`NWE`\UC9]E
MG)S%D1@@`NBXBXG%FQ`%GKVY4V+9C1/0`@:)E[LCEA>0;_;F`8:9`3-P`RF`
M`7,HD@<P`MOI4`A`D`?``A[PEKL3>1IY;R@`F)=Q`!R``>28CE@)B`W0G"6E
MEQ8EGN.)4Z[9EM0H`^@X`I%)<;6H`89V`&QW`!C04/L)CAO9D<?9<6O)<]2X
MED9YC_K)CR0`_X@Y1:$59:$7FE(/60(ML')1*94E,`08(`-(*@4@@`,&0`(B
MX!7V=W^L9V:6R18<\*3[:#X),)+"Z!7ZZ04I$`)2=P%Z80`E<`%)EY-MT90<
MF0$F()(>VJ4WI:-<N9D]RE-<1Y,/!W)QF9@M$(Z2EP%N6@!%AP$>J@%HJ``@
MV1?<R0%>P0)SZ%`*D)\F(*@9D`(&@)5>())>$9I>H0%KUQ:A>7U5)P(8L)S>
MZ5-T.E$\ZE4IIP&N)VOUB'H-)0*\^(<FZH5G]P,OIQ<'$(PF`)U;&@(O&E&3
M>IG@R)T,QY%>D7_UJ)->\)D%D`(:(`*36JP]M:J[::=YA0*2UW42^O];H?>>
M(#"D!A"A.`D"-("."-E0'+"6Z%@#DM>%,T`##L*1Y0B0NEB0&-4H;3$"Z&@^
MS"IQHE>-3*ERW?F/<IJMK3H8#9M57.<"H!>;7O:874>F1CD#&BJ<M5@`,I`"
M#1`"M]H7_*B>7C"0?9%PANJ<W>FA;!>N$V4`^PD8&)"9-F=V@^$!'<"1X6H`
MW`I2VAI1#WM5'7`!3CFKO^6>VU>/49ES+T>.!H!O^#:+DN<"+7``;"&2*3`"
M8MJL/=D6`MD76;`#J+J+*6"S(0647M"BH!5V'LEP7PI1'Q"'A]$S-V(N_@"`
M">`A$F`^M)(Q"GE30UM5+KE_$E<`,!M8W&?_E`IGBR"WIG%Y`Y>Y>0;`J0,R
MJ>2(ER&`I6W1`(OZJ/T(H8GK46S;J28;`@4YLP[E.1!06M`W%P8#5'4C`0=3
M(A0``3H3E#(UN%'5`2"`H*8K65RG`?P6H"T`E5`Z`9MHE#7PC1GPKKLSD%E9
MD@K:G?T844TJ4Z6[._U)HB0*46!A`76+06WQ+WVA6^)A/ND";D$;GC_K5ERG
M<KNC`'KG6&>J<K,(FM0Y&`K0M2DPO0!KHN@XLC87`N<*B`N[4_^[.PUPCNAH
MF0E<O@`19W,!6FQ8:7`8$9AQ%N3;?>\[;1],5F)YH.=9`"7P>HWI6`9PEO48
MFRVPOX,AJ,V:E3)+_P(\&0(F,+I!I0#3RZ@A`(@&D`'D.%'JH4)5=!BH*(Q,
M,T7NPL'LR[N\>U25UY1Q^<(.-74Z[%91*W43@'@H@',\IX\2];V;R@'/R0%L
ML;55-8ZJ*[.XZ07<V;7@^P'Z`!T5+"VUURT^RS8"0#;#=[NYBY(A_&V#_%7P
MF9`5B:U]X76"M<(EX`)'1Y/9.%$$1++7:W/H>*I9-:DAP`&<%0+VV18)(++8
MBXH+H&-[47L]<V3FXB"D&`#JXRZ`J[L^N5)1W%,5H(\IMY@0M7"\;%=%UZ=.
M65'?V!<#FZ`=FE4)@,;&J0#]:;(6Y;,Z%5=T#,M>02T(=!IO(8P&``'/J/\]
M`=".A[9710N94&K.$^5PK*G%'N`!%==V:EM1EMG#SNFH,SD"GNQ5(R#$RPG-
M3R5\"V`!UJ(]=[$8`-*.SM/'!JT>J"QG>U4"7:>>)5"@$P4"P^Q4#2#&&?5R
M?0JJOTQ1#,H!/*F@JML6$6Q5QWI5P:6*7Q$U!23.LH5^%*"*,<V$K@%_[Y>`
M`[#3/#T`)]"!/<W3-`9>0;W3/ST8)U#4.]U0&Z#45%B%07T!/:`$?NB2#=#4
M13W47J$"*Q`%07W4?9'42LW43AV"2@W6;8'50:T"1Z=@9[T[8MT#!1`$5*`#
M`]#.3%C6NR,$![`%-X`!20`$-H#&>9W5#:4";XW_U$H=A3&HURF8V(T]`"B`
MCCNMU5Z`V$6-UEXAUD5-UD7]U+"':?X'@&3Q&+32M]O%Q`B8@@O(@.$LA5FH
M@TF(A2_8@5N(A$5X@Q!X!`60`T+P<BXP`3YGA0_8@SK@`S]HVS.(VU!HA+6=
M@A]8!>#:%SX8@53H@4C@`U`0@4\8@8S=%D%P`#FP<CE``$SPN;*]@4KXW%JX
MW-"=V[#-WNFM!29:W+2=W$QXV^_=W(';?Q,,BH\A`9C!>S]6AW@Q7K>L4RB@
MD1`MOT^)=D\%GR5@D1>ELUYAE$5WTH/!`C\I`I99CG;%D8K<5(9(,@!^-A6\
M?E,TTT)V?I%H5Q%+LE-:_U%JVE#0*E-&J7-->[-=)XLC[E"U:'1FMYP>&JT2
MRH]KV:`FT``:?E9(KM*8!@`48`&@,45U<5LYPB8<G-`,T(P`@F4O/E>^JW88
M"<9*-V\9M\XM=7\-H';QY@$7@(OVYIILX0$M\'IPN0(M\'(6W0#Y1I"\.)`&
M;+)XV:3H*,K_F<5FE9]03HP8\<UN@4`)$$$W0HI>,>4"/2#N@MIAWE8=\,(O
M5P`WSE$IIP#_9M'!;.8RY:F`07.?>8]>^)NLCGH7<*!=)\=AZJ;AF(X"/`),
MWJ9"S`$BN>0-0`+TK%?Y;%5X)<ZI5LA$-8W8F'!>B*@D]:Q@9\)D:H\S-0$T
M\/^Y+N#+@P'1M>@"72B<%_>[@=F\"=FF"<F=(/F\`8R)QREY7N'`(SET[?M0
M"0Y2J;<[%;EPU!B:^@?#''6&@-&X$6?PL9B1:DF3?:$`,?"K:#L8C9)Q-=<`
M.R"19S?N;8&.SFR.=.D@!L`"S]NE_AK$3;YM^>Y0^[X[/7?1#=4!9RKMJNX%
M,]IQ(-`!]J8`BEY1#H^TS?KC')6_9B?M>E<`#7KO;2$"3PJP&""8$V"7)NH5
MP:V>6XJY_]FC*P^-0?68<4Z;&VF+$+T"D(QW+EF_+O6[1U>@*4?P&A6@$?IU
M!M!S"O#%7,!PM@I:"PJ0&'":9>N?"VL"'(``'-"N6@__Q<[N49#\R!VW=HLY
M]W&^;Q[P=;/8%HWWT2G%T=K>;Z)>45LL43W'?>[<<Q4@[#:7S^-H``&<`):Y
MH.;(D]!\HP$9K6]\H5O?Z3IE`!I0H'$Y>A/0SA;/FM9NO#)5`7J.EA1+46:'
M^50OH"$Y\=Z(EZ>ZI44^Q!QYJVQADL8LP/YL^XAO4QWP^2Z0>D<Y&(RK?PF'
M]KLCH`GG]C%U?Q25<G$)[@TUX7VAH/S+KZ>OH$<&"`TL7EXC!H2$"B%>!B(8
M'`<'*8B4E9:7F)F:FYR=GI^@H:*CH@)=`*2IE:>JI"LH&@4:%UZR!2L>EAX3
M+0:Q*YL*&A,7#:W'EA,*GBT%_\[*%QV6#045E)'&B"0BE`@-")T-!R8<&"+C
M)N#(Z^SM[N_PF*:H\9VL]945%PH%)2@@)2Z@N'`!V*8&)3@9`%%`02Y\HCI4
MZU0BH`LO'C0DK`1B&2)Q&#*H:\!A1"H.'$064@>QI<N7,$G-BVFIRX@$#1HD
M.+234$YV("[<\B+-RX1^A]HU>$B3T\1-!HHE]4*-*:$++0@9,,#B@+@0+,0=
M2)`J10BR3=.J7=MRYMHN2R+)G4N76ZL"$PQ2PLJ6YC!.$S14DF@-D;ZMD3"0
MR.#%1(:0&#SVG4RY<DRW:D]],Y``IX&<W[R-.!#*0T<0A":@L&I958H#)$`I
MF,!)@?]>1"AH>UDA:YFB!AD.F/22`!+:ULB3*T^%.>V]@Z0WZ0.Q0L&^P!<"
MHEY.BD5)V)\`UM9-*3"A`AGP>AGG!<%4[O#CR[_4O.ES3>(.]KLP;$(NTR4H
M<-%\GRCB15?&($#">]UD$"`GQ7P4VU$-&%#`#3:8H``'+!'HX8?*U4?3?9GD
M9XD+$U1`#"X&%#6?-\>%L@TA&$QB`GN7*'``#]D1@J*+B!30"W$DP'9`!B"X
M4,`!Y7`@&8A01MF7B#&1B(F)B#3C3`$7D%=9.IR,-M8H(7BD@#F/16<)!@>(
MT(PT_*#@!0@M>.""/AB$@$`DD&"`@08HS.`5>%(6:BA-5,+_9.4EXBASB$0K
M%,5:)^[AT^8FQ:509(>>>(4(2AG<F`TE79'`00(:+(,"/]8)U4]P![!I@(X-
MA$`##3%PX(4"#![JZZ_M)/K2HI:4X$PLPJRFRH;MD//1D9G,Z@B-YLB&P50&
MJ.-I)9*L%P(&M%1#H0&!%6!#9.R)@T`*-LRP`V/`QBOO.L*Z1"PE`6$QB`O5
M%99*<'9U-T@A;(80FUCMF6!""BR0$,)K;)H9`@?9(@(.5QZQ<$A7)F`2627J
M>A'"`3(40)@7%3SD00,\Q'8<6AV8.O"\--<,2KTMW5>!-"JZL'(!+FR[#@<3
M<VJQT908\$@#Y&3PV@$&C`")`4^S_\G!8H9\@TAQU1)G<`89Z-I5"&''ADD&
M3Q),R#D<%`""!D`B@L%PER0PL\UXYTW?O?86P0@_6]KRS'JCJH*``ALFX*<Q
MG&4P"`+!]8I(5X^)`.]Z)EA^0%<I+&-"X984&1TY;$9"N6)I5V*YZO".QFKJ
MC`BM]^RT9X(S1%VD)\O.!NQ,5`6%R9[*:!F89``DD,@E-4H8>'>Y5B+H&8ED
M(TLRLIZ?).!I"HP!'`G2EFQ(-P)E$H*`W5QN])'BS]?N_OOU1H![!!5(SBWH
MHK``=OOBD#`"`H\(`6)B=8`RL:!TW=+1S%CPN<9T"Q1^,@#:&B,"!(@`?YA0
M&FD<4220I?_'2V+*``;?1T*\)<H`#V!``"C0'E,$`!$`Z$(7*B&!!SQ``,0)
M0``>$"-$\(T2Y3L)`7M(''44J6->2,'_$I`"2)!`85I;R24,@*-/`!`E]NM$
M<<X1G$E4(CW24)@!R*8`\)7PC/-*%`0>(('V>$$`"^C""PD1``;,$(8,`$`,
M#0"!%P8``I?X(2(FF`KA1.T@*4":W<QXB?_E[V.J"`X&J&*T'RR#BK&B&!HW
MJ;=$66`!@-2*`>1("`HL(`!W)$0?"=&%""P`AW!DT`:Z``$!V/*6`J`'(@80
M`Q0,X)>_/($E-@#,8JI@3X5303&!*<Q*G&"9P+P$,:&Y@4M`,YC_P[RF"BZA
MS&*BX``#HL0S>>E+$!P`"!>LQ#2764U+7',`S:3$.HW)S6O&$Q'CA*8TK]G.
M2KSSGH28)S"W:8EN+A.@7LCG,O=)36O:,YO0)&@E#%I,A"JTF`QE)W.(90`[
M+H`EI/2"!22`2DKHD)6F@"6)9OD`';I4A_*C!#D/"M%EJ@!+A*`H,RUQT6C6
MM)C]E.E#U:G->A;3"0JPZ"^M<(`!X"`&`\@H4!T*380*])<2I81.L>G,=TH5
MF$'=Y5#E6=2"CA6?7OTI6*E*4Z)&U*AM%6=:W:I1F=S+`!;HP@)\^$)7>J&D
MB#BI%[J0TC=:29"$(.0G#.83-7$R:4<2_]YC)RNO>@D``JDD901T:$<)&``5
ML1QE`O[H!0A8()"ZW,2,/N&(4WDA`P&C+"$@`3O9VK90B?I`#0G+5Y/.T!2,
M>(`%+-#75S*`A35)K284T+Y-?,<80;PM"4C`R-M:ET#"$D``4BN`F!(B`C@$
M``Z_ZUT#",!^B&W,M3PA#J4IX!QTNZY\YPNE>F5Q'>DEG">8Y33)TO>_``Y1
M?N&1WRI>8FZ)98R.#E#=`#OXP8@:\#ORJ]BD'>A[R"1..2#,X0ZKY7;XR*_#
MTDD<+SC"@A,SP6C4D0(O>OC%,*X'B.N17P6-#&US.8<)3,4!%\?XQT`.EH3=
M,>01%.PFUXN=V?^"S.0F;U2Y(X)R)T8S'`.8("D-=K*6MXR(&<=CR(1P))?'
M3.9.>)G`4BZSFM=LUS0/R\ULCK.<;0=F=M1YSGCF\IDG#.<\^YG->R9RG_],
MZ#$'NAUW+K2B.WQH.P]ZT9#^<:/Q^^A(6YK1B3Y&IB_-:=M.&AF;[K2H.?EI
M35=ZU*B^;:E;$>I4NYIVJU9%JU]-:YO%.A6SKK6NXR4L\P)@*@!`"P+T6+?C
M#!M\N=ZUL@UUP@6H$!4(D``I`:#"D"+BDPMH8P).V04B#O;4RPYWS3P9@/&6
M-HXO1``X8GB<"#"@,]T>KDA/FUQQV[N$:F0`O=N#`&L;=BK$9>4'&`#_RW?[
MLPLM?2E,*T&`ACN\X6'UP@`>[O`77.(%%(?X,#/><&MR/*J6X#@!(C[QC%O<
M$AC/>,0W('*/9QSD#.<XR3E^\DJDG.(K;[D[/WX)D<_<Y!>7^<8Y[G**PYP2
M/M\YT%$N='7JW)\\;W,&'Z!775J[HVT,[!P)R]OZS+*6N+2E<O^I5JS"M:(\
MG2M9&^K.LP:TK!-U>T+5CHBK#B#B$I>[W;.*B*W",^W7_.HO\4YVNM+3K%4%
MO#[+?G>VHMWP`SW[3KL:>,;CW1.]QG9OVV,!!KPGX(,=>,&)F.Q[FYX[EL5L
M;Q'0^:1\]HT+V$JW26M:U)[^]GE+5`WMB-S!_[[0%*<,`'CO&(`%+."TU$:E
ME$N/^^9/1E@`@,![@LT(/>IQ*[KLC,4`@&QP.__[\+$O[KP/_O(CY]:D8+[Y
MUP\1](]"_>R/_SO<+PKXR__^R*!_*.R/__Y+_2WDYW\"&`_Z!PK\-X`(N`D%
M^`D'F(`.:`D+Z`D-^(`4:%@!Z&@5F('X$('V<($:^(&:P(&<,($@*(`BN`DD
M6(+]=X*:D((J>'\LF`DN^(+Q%X.8,(,TN'XV:'LYV(.?L(/UYH-"J(`XZ$,>
M.(09"(2K<(2IP'U,UA-!-FSR!86CH(24@(-%."_EQF0Q)%];^'\9-'[.P82R
M]85`UH7798:E<"\?</]*R(4``9!U"*!=#,)'$*`.%"!\-TB&[\>'DZ6&,8:&
MU@6(-T,LKF0!O^8%%&!'<S1<%-!ME$!P`L``7M"&`+``'\"#4<9DA/AB@GA;
MG8AYQ+)#6><%$?`!I/2(A\!&B%!#ZM8%%,"*KAB$FQADH=AAGVA;M\@)N:57
MWN5[AD5'<_176U=8]9$`"*=PRKB,S-B,S)B,SAB-TCB-U%B-UGB-TL@`P8>-
MW-B-WOB-W$AUX#B.Y%B."J=O3V8[=F1NI`1<Q*AU*-5U)&)>85>/]GB/^)B/
M^KB/_-B/_OB/`!F0`CF0!%F0!GF0")F0"KF0OQ@*J9=9+_2(=%2*),5*L0C_
M2P^094BXD1:(";\&`<;76P8`2J-$`9OE!3$4`1'0!0@`DEZ0;1P9DT289GD(
M2BP1AX20`'TD/R>IB,,%;=HE`1HIDT(8/T1YE#*6A4@9DU:XE#+I?B.E%3^Y
M-=+71XCH!23E4H@0`2ST`:2%E2[E;8B0AV01`<15BEB)"EZ9=5D9`&(Y620E
M?=^5B0#P1ZY'7)EH6U'Y1@N7DX`$`%/)"'V$EGAC`()%1^[11ZBP66$9@JV6
M`(S8'I+H>81P60G`E3M$''I4?.83>VV8AZ>U0WID1IC%"A]@DK!H/IX'1Y?8
M1J+IA-=%4L1&1Q$00Q1`7.K&`!]`?91%;2$E`0`@_VWJ<%D(,)G@\$>\J3?2
MEDIY"(<6\(B_ID>?=%^WE@`"T%**R)((P(K;J4ONR`B\I8A[Q8J/"(?#:#O-
M$9ZFY`6LN)+F25_]%B/]9@`U!)X4L(C6!0`?@)TPQ`K=Z9[]%@$=]9;STE%4
MAP@/P)5=L(JE"$HSV0XGY8XGM9[F(UQ;F4H2`$B\%4-U*4-YF0D<.I:06%HX
MM*&G@$JM)%\Q)&U":8I^5(S7:7R]1UF'B964*)Y_=4=R=)UYU9`U(P'$=4?S
M*:%S-$I]YGX12GPO)`$4N:"!16_;>0@FZH2VJ0DAVAX(9SXL.5CA=0K@\(@S
M*ELIN9(L]``L)%B$90JL]_\`H#B,C\B6KJFCY0:+J#B440*9AGE'L1B,[_A7
M>_6@[#"AQ-=&"X!<IO"A*TD/$<"F[-FE(&5NEQ"B*/11W\6H-X226XI2U\5N
M7#I*X%"1@T4!D\BG93A'U+9OA6J*.@I>[W:EMJ9"G?57\B.1?]5&H^2C$)AK
M)]51MN1Y=0D.J`@!HUE:C$JBE5FH`7!:%*"?(^J1K)!"M8D*$)"7$K``K:F(
MXM6LMY5M[G:9]`:FN(F,M[EO-/I"!KJL"?"KC&"<7B")?UJ8>D1U.\$`%R-<
MT*FJ#>9^3$H(@/F<E1A3;>F6(O6A$'`<VG6'8&D!'XH)HT46"M>2%A.4GYJL
MN$K_60E`7"PD`.WV1VCAE05[6_LZ6BXE`1_@7>.*7.-*H/)2D<%)E7I86J$$
MJ$XYLQNHE#1;E#9[LSW8E#J+LW[8LT#+LT";@T([M"]8M$9;@D4K0TS;M$[[
MM$Q[GH(9EG.8<*%4ES9D`1V"2K%'".B&")AUM0BW`&::H\1Q2G"H0L)'4N@F
ML(:5M6E;?%V*"CH9EEV@MA5[%(&SMWS;M_[BDUJIDZ>4H(100W*["I3I%F%+
M"!;JM82YD4L+M9(+M5);?-`VAUV0EV11G%J[;>2*2@P@/Z.D0HA@?'_*H2,9
MFBSY2<<IM=]9F:>`C(PI4JWJI<5'%MGB;Y>@MWW;NWSK_R\=90$\`8?6R@B'
M\(CR@XJI)4.`Y!:F6[@&5Y)'&;F36[TR=)[]-J.-*Z)XF*DY&I6N)%@KB8ID
M$:(6BDJM)XR5\+H=25@G)0&U"P"J>(52FPR^>[^!XR^S6$HI2@D/$+/_>X5Y
MA;ETF[FAJZDKB934:[V3>YZNRJ5@Z9;?Z:JHY%<+,+OON(4Q]`"@Y+`R9&XH
M>@_L:PJFM:!UI$,LQ*'LV[1IQKOXZ[O^4J-$VD;A:;8^=%FUQ`HEM4KO^$H*
M;+,,;+WG*:Z1J&V8!0#NR;]3@4HCN9*&F6X[RL0Q]`&=Y\$0<%SJ2PDC3$L:
M^U=FFKF8RJSOH;OV^\+WZR\6D/^1B("*AP``V.F@C'N>A#5*1]QOY<;$E>AY
MVLJ40!S$#5P)^L82TVF!MTI'[VJV(+E727I+K82Z!)>CD]JZZYM*L*M+)Z5#
MPQ:[Z+AYF>#"9OR[%_JAD$EO27H(A7S#M'L**\G(.`29=;24"^S'3BNUE_A*
MPIJGVF6:M%1'[U%2P=K#Y@9*(9K&9HN,;"JWN02[DVS)?06+(6I*K[1=>B5V
MF.#)GYR_6JQ"<"2>KW1*C/M*NLM;HW2BP\B9(D5+L-S'LORT]5M]NC1LL,FO
M1)2N[>&$G7%L6Q.=%T.W]/!9YV-]KJ=<_KPU:/%K^)R3U&=]B;B[U]R[?\NO
M"ZV9,?)G6;VRT.DZT%KAA!@]O3F;M!^(M!ZM@2`=TA4XTB3]@"9]T@F8TBH]
M@"S=TO[WTC"-?S(]T_)7TS;-?CB=T^:WTSP-?C[]T\YG"NM<U$9]U$B=U$J]
5U$S=U$[]U%`=U5(]U51=U4X="``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
<FILENAME>c16419c1641906.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641906.gif
M1TE&.#EAV@#C`-4``#\_/W]_?]_?W^_O[Y^?G\_/SZ^OKU]?7X^/CQ\?'V]O
M;P\/#R\O+T]/3TQ,3#,S,QD9&1P<'"8F)EE9649&1E)24BPL+`P,##DY.24E
M)2@H*"<G)R(B(BLK*RXN+A45%0D)"38V-A(2$A,3$SP\/!86%@8&!F-C8R,C
M(SL[.U965DE)25Q<7$)"0@,#`U555;^_OS(R,F9F9@```/___P``````````
M`````````````````````````````````"'Y!```````+`````#:`.,```;_
MP)EP2"P:C\BD<LEL.I_0J'1*K5JOV*QVR^UZO^"P>$PNF\_HM'K-;KO?\+A\
M3J_;[_B\?L_O^_^`@8*#A(6&AXB)BH,+``!%"0`,1`P`"S.-C@`)F9J319E$
MDD.-ET65ID21J3..EYV.DYNDCJJS,Y&+90TT-*D(O30$N`+!D<$T`0#(-#!&
MO+Y#S4/+CT,,Q;T!I##!VYB]#:W,SLE"!\B?`<)"Z[ID!@4T"D(+-`A""3,(
M`X^7R]^(F#L2CYV0:4*J$1D`0Q\Z>C,&T!"WP)0"&@4,"`QHCL&]B@9H3%HG
M<H:[=V$8#$!00$!"&@>(P!"@[V5`:3<7(B`P0)JS_Y?6Q@6%X6R9N"(""O#[
M-&-@TVW=-IK$..PDRB_K`*"SU@U&S%8#!A"014,`4:9.B5P\P,L:0J%#H@[)
M:I5:L@1.\VY+2W0J@'YUKW(IT-,>/DP*BGT#0(#&@&,P`@2H^?0(80;VAC7]
M"5>(W'8T``3>5[)``9RH^3IS!X/`:,%8\"*C2:2QJF0`C:2MQXR&OK<*@<9U
MANYH/7G(W'*$2D.J.W2V87,Q,."`H\;T)BV`<9K3N`:YB^R>T=@Z@(OT@(=>
MV'#&0TP#!%A+<%'9>1H:*Q_<YA$!R)(GA=2<=%N()9`!LI4E3F.]$-`(,LL9
MP="!304#PS+>S(!-AD(PT/^--@:X%%=/^NF'3C#J#`@-@5HT0IF&_KARS2B8
M:')+*R_6^"(J-F)F(V6H&-&(+$SA8@F.U%`6RA"Y)!04BU!&*>645%9IY958
M9JGEEEQVZ>678(8IYIADEFGFF6BFV:6'1+7IYIMPQBGGG'36:>>=>.:IYYY\
M]NDGG)7T)NB@A!9JZ*&()JKHHHPVZNBCD#H"Z:245FKII9AF^JBDFG;JZ:>@
MAGHIIZ*6:NJIJ&I*:JJLMNKJJ\&L"NNLM-8Z*H:VYJKKKH?*RNNOP-KJ:[#$
M%HOJL,8FJZRJN%K*T++0*HOLH@@`T$!?B2+7BP(V:JLH`-XRFHVC`D@DJ`$-
M'&#_;C.."*C``5T)&&VLS9([0S%F56AH.<R(]N@,'S;*KZ,`#[H`NKAVE8!9
MU<`T;[_U-GH:@\1-]1@N`P10B37U^NO?PLTYHO$"">#C43``5QR`1KT</,`D
MP/QT6%.MS,#M`HT90')4#3PHC3C0X#8-,P6H5+0`#>ST<'(1-XI/`@8XDU%3
M":R#0-7D#=UO`"X)@&!SZDXFDKH%]Y(RP"XYTYI*_C)0E6/\DJ>1`-QV_;5)
M+T?55[G>+#/P@`P:$``,B9&T]+2+(GWM9C1W91*&Y1#`J6A%25JP,J&QAC*V
MS<&```-)-[<Q`04TP$#4%9Z-6^7+%`R`WO<XDHWDS=B#_TP!"VBK``%0-RVM
M[XM&K54YY31P+5N88S0#=<D%,`#.K74NM+]E=Q[W3+C(\VYK`A#0$$O+]X2M
M,L]['Y+KW2PP>&NY&T-`NLET[SG(9050]&-+AP9\HDAKE=0R!<"0=:!SD5Y8
MQUN[:P9X&@,N8:"'@=H"5P![T4#X;<M_W"H@MP)HFF40X"+]`T8#%2"/:@4`
M/`%3X(G`-<"`':`8W$IAM!"7OQK6D(8VS.$,]Z?#'O[.AT`\'`^#R#\BF@J'
M1C24X9+X*20R<5!+?"*SI.BH*%+Q5HHR32^(LL5U=>I9R&"(MI+2"P&,"U)6
MO&*EG"@T$97E7I-:R:"ZTX!U5?_"9O@!'7;"544U3I%_*7M$1CQBEF(PQ(PP
M>-8AX=:,L."C&V99UP$:<[I@2*0<DKF0`(!1J33Z,5)#1$8"7*.QR&QE,M[3
MD#,2@(X#3`8!SJB$AV*R,@8$X$32\Q<R/I?'!O#.B^12AF08],E)L7$B&VS`
M"7GB&D<XHQ@6$YPS(V*]IB#(?IO+'#(<E(VDP%(!B6F0`FX9`%AJRW,!J,`$
M)/"`=B8@!4:(A#*C5LQ$'5,93]E$[&"`PM1UPP`>ZJ?9..<5VX6&DL1TT!)?
M]D$#X+*,K3FAM0!P@00XX``RR&A&'V"<))R'>?4<U#%7:;9EX.,`C;@>?M27
M4G^ZQ)7_]@D&@B0A`,SA0C+9X!H_)=.;`3@4`@_8J`4@`%0,.&`",GC`":``
MKY#VYIABW")R6I(4,":RC"TAS(>NRI`!:#&,'R*CFR1"QK*$JSH1"*I&UYK1
M"3A``A`8I11P!LQB'C-:`CB`!!S`UKZR]0&:F<(+,Y7`>:2R-W_K!0?+\I?J
M;5%?VL2(#`MU5V450`8AJ(!?-ZM1`"RU"@LX`!\W11+1@!$9B:7@0WAQ5=1"
M5I<;LF<HH96Q$/"5L[AU0$>I0-<UEM9^`&3+))TA.4YND:7%`-<`N!62<J#+
M=.O`W[=FJRP82```N,VN#'2KA08:DPB#:PH#$J.^U:0-&3$Y_Q'`#H`.J)6#
M/@)0'WX\*5+J&NL`%L"H=G.[VRO0%U&ZI%SC,J=2"^D+8.`MA^O6H:Y%5?97
M\:7`?K7+72[$ME$!#J]OR*MAZ1EX<^QM1KXV'%^NG6RZ.23`"/0[8?YZ`6J.
M*NSN)HBN`]AR@J'Q%HYSO%S_T=AXPS6N;&T8@!`@M<79K7`7<(8I&!A`9Y-U
MU8-S!0"U(CG)_=W"0R=U(>_6:LI?UNR5*9SE+=@76F"&U0!4<-LQ9_<`&QA#
M'8F89E<-0`82=O-^XSR&`AY*+."1%Z;.2*DZMPJ_>IXPG\<@9$(I8`'XTE1J
M01DM!%@YT=E=-*,/54D.`6-DV^!/6/\FD8"HT*,`^E")-&AR,$HO2P`0P+2B
MS0!I0U7OES1QS;V<09V2L04_"]-0?(K!`%A6:)0](32*E36`$K!8UKC5]!@2
M4%=1&C=YHL$<OT2C2P1WXWV3Z3",O,PH0Y^J`6V&=K31X&=!!>!@W('!P7@7
M&;_93&>N\1"WQ#>1!NC,?G0]C^=<;2P"2$#=>TZ#H!';+G:]SH'3,,!]YN&_
M'"OH``FLECRLT^YRG]E5!4`!PA..!I5P&;)2_OBA\SQRW$I`#5L6UW^/J/)4
MP<`"+=?N`]10ZQO6_%A'SCEG=ZZ&G_>F):PR-Z@$@`&A9Y?H:E"V-1IL3RO*
M!RS`)@TRQ-'_H*HY9G]*_Q0#GNWTOD(]#2>.U3IL^2TKSJ0ZK:/.K2]AMM#`
MI-KT(E8!+EUVL[>!T/X:)4Q`,QE.A$0<#*@:/MK7/)$T0`'4-D9Z?'.A`LP\
M[)UB;]^'WH:.;T(2!<#U*"?3X].8IFKJ(\PV%R"1C^&R6ORRO$,C$V4*&CU4
ML-X\Y]O@17\I0)D8RC9`7E<ARIE.7@[BY`+`AYP%I&LJ#;J:Q)5M^V!)3O>;
M/;L:B!D:>&GE-`9PD.6'[Q+)F"1J)7OLZ[I1M;EY3S*T[$5U?-&/T>HO6"S'
M/ELIX(:@4=RTC`4`Q?!!$!=`"+`[DH-\-E(6!V18BH4KL(01`+!P_TP#+#>G
M?W[E`&[`>#L$+`&0?QB841KH!HWV0[_"`D$7@B+X!C&7+)B'*0>G@FLU@FV0
M(&AV>YY"`'RG@C38!@_S@I82`.DF@SW(!C/W*T"X1F3'@W#0@L62A)22`#+(
M5D6X!CB8=%>H*3LH@W$P+U`X*5NH@EW8@;L"`R`XA6-X@[P"`T.(AG!0>\'R
MA8_"AE/(5G$`A\`BAXY"AW6H47=(AKIR`&+6AS+PAVJX*]A%B!EEB,NBAQBV
MA#(85Q'P`1?`!GB(A%F(*030AC((`!P0`Z"8`0D``0L``F=PB;SBB(S"AXHH
M`J#XBK"8`1!0B6*`BHB8B9?"BH0(`1T`B_^^^(H:P`&SZ`6VJ"NJN"BZV(</
MD`"_V(ROZ`$9,(D7X`)80'W$<HR*PG2*V%8?X(S>"(L:,(JE2`5>B(N7$H8R
MR`$>\(WLZ(L0(`*TZ`3E^"L1L(T;]8GMF(^P"(T78`)*8(ZE@HW?8H_;!0'Z
M>)"_&(TB8`0`*2H"F2@*P(DR>``1@)`6^8L=((P+8`)'F(H-22G79X\6T(L7
M69*P"`'%:(P?22DX9X\.T(TF&9,<\(,K.2D5`(E3>`$Q:9(>L`(T"2P129`2
ML),EZ77S^"L&T)+;2`',2)0(R0'V]X0U"2D#T`($>0`@X)0(^0)"%"P!D(*$
MJ)-:F8\94((F^"O_J$:0`)`!8]F.'`B(OW*&=7@`!MF6WSB5H/*0R(B.*C@"
MZVB7S8B2^:.7B^)L]B@!;`F8ON@!(^!SQ:(,+EF7BOF*1MF5Q1):]MB4DQD#
M'F!0EDDL,-!TVV@!B3F9$4"!<(E_$AF"`%"1DZD!%)!#A+F*#+"-$^":BLD!
MJ)F:P:(`<JF"0ZF8&=!QGUDL`R`!.(F!&""9;8D">,>;P9)[A#@!"P"8%Q"5
MT!DL"*"4=8B;6AD!'7F6R@(>A`@`&C"6&9!VLHF7FD("@RB#%2"61*D!(1!$
MLTF5%`"6(9B51-D!(Y"2XDDH=*-+M#(`^5F'#W">.PD"V%F<@[(:7&0K_P;Z
MGAAXFS&I`1'0H,X"2=IR6G]4*+^W30U'`,(E<1=!HFS!3R>B#-<R#^\R9XPR
M`.XYA:Y8DAI0`BFT$BAT*<6`20F#<IB"0P2J,V9Q,._F&PV0-D>:``M3:@J`
M#1K1#QY1F8S"`*(9@@E`D@A)GS*4>#T:A,V2/%K3*3CT>'U#09)1#:R!.?[R
M.MUV(73Q*,O%ET+7FA89`7_!##WA13&Q?/K#"2_#8.A@,A,"$:V`20PP$OP2
M$_Y7:$.D$<#@-9`F;]*D30##IEE!.%`:$6T:GH-"`!"@GWU7G0=Y`6GT-^1S
M&O)11[:$.?.&%Y)#'$*#20OC#/@@-.^"18>",/_K(#D3"'$)!"X$F$`DA!LM
M2JS<MX<D@`')V7(2H*7?R`$24'LN$4$D`3"=BCLZDPR=P"_:ED]FLQ>?-W%K
MQ)ZF0C=CAWT8H)G.V`$?4`'6&`[NY610XQ^`H4T'P$K-X#9M4B&\@SK<JFO#
M@!\32$^6<I^>(@`,0*?05@$E\(U,&J^W(SL2.%C(RB[F(A\"N&/*,$$?I`S_
M\X"#=;#FFBH$8`%7ZG3>"8L1(`&[^41`6%9J1@#+*JK0A@'0BJ$4D*Q^A$,]
M-E@2*S2$H@D%="'$E%=:<4FYF@S/J:<(X``6L)IZ5@%UF0'ORA-.=7^&PCL0
M!:3,(*:"XEB<8#B%)"G_K[,^/'LH7H&R-NMF)M"R3E@JK:5809N70^0?\L`9
M'^$>CB$.KM18(7()VK(/'P)0!!H,(>9OHJ6>C%(`>K57S<I9!^``$("<=6LH
M.L.WC5(P\1%9AO(\)-&GVK)XW5`T":`]U.>S,8$-Q'.ZCT&BT#`98]=]CN$-
MDY&D"W.X^$%-F^0:H0>@@F(6RA!7[<2)#N!.$$`Y3;LHK;:\AJ*[A=(=O4IM
M8:%8VS&PF60_GN1$J&9L0LMM)%%X(9%7Q<8,+M$SD_%P#>*GP8`TKM2B/$H4
MDC&_\PM+,^$I"0"_]M$8&I.D"U84PT`X)",YSL,M$N0([0:GH8$`*V-@9@0P
M_^^S.R/[5$-D%@A".LO3O5!62M)DKT1A0<*@J:04"43A/0O`)MZ`-`906#G$
M3^KC$JX1;,CQO\N32W3A((0#`%=SOXW7"N\F(/U@+0`C%CL1``3`#Q2LM@A\
M007`3XS1"]6R.VLQ25K!-!.<0!_DJYP2&2H41`'<"M.430(V4-J4;9UP#XFW
M-;X1IV5D/W!$023J&DF<M;4"2Z;C"X,##`LP8WM,#^+6#>`10/93-:U!%(^F
MQI]#J30&`^7;()ZC``XUQW0\*X*#`(;$P-VP$EQC>85<4]J`+SOA/?7#-9N$
MQ-M4N(-3/_,E+YOD&$=<5P@[R?99LK(L1;%<RSUTR_^XO)Z[W,N.HLN^[*#!
M/,SU1<S&/+2T?,R\K,S,7'W-S,S`_,S7F,S2?)353,S1?,T>J<W83,W<[(+>
M_,U2*<Z^O"HU-;^)PAV:0CJMS"AI:RGMC(SO7"GQ_&7UH@#=$)X&BRGXW`^-
M,L^4LER-(CB?XL]45B^I[+Q;!+QE1"BI3%V72RF>:B$3[1C5!LLJ^;7?=@]E
MT1CRPR#"FT*M(0]-3!CAAQ$ADC?CDA$A\=!;5!#-(,HCK;")1!)-S"#>0S$A
MTKX#YU,$@$@IA,](;!:-T<2EN]/"NT06+!$Y?48'P!+-0$]/G;>D8W<'_;6P
MM!44I`W)T"#-$#`"LG:.L3+_8B$\5BU5=N?2Q:H``AT?,9,57-W*T;,.7`1"
M9102&,+6*^$5$.(84&IW($0`9MT87"Q_O.#)X0LAWR8/SI/*87W6]JS1M1M\
M7+T.J1RAMKNO9I0TS1(QM./2D%/8B`O779W*:?W50FLALD'7DU5:7=<,N6LA
M76$XA6W97.T-W1#:IIT,I"TL"!TPE%W:PA`S8-W29D%[C]&B$M$LGN//+BU:
MPJ"P$J$444/:=!VIMMTFFT02-24?7%T`%^%%!63)SB.`W&$MF6QYS4"VL=O5
M[JT-^2P//^W8+0W9M+(JRV7**^,57L4UV+0R"&#*3^8YU,W2L#0XC+W3S7#@
MLI=7_V[M9,/M9`CP9)8,+S550D\6'UQ#`#_-X=TT.(-SX3"QS\G@/1I..*T1
M-;2G/0:``%0G#%%#&/9C>>O2XC(.X00^X%FMT#1'SKV<S3X^*T`>Y*\RY$3>
M*K)2T:#2Q(?BR8.25Z@-*CQ,*-&CMHWQTY/2/>^-8?@!8/7"T)XB%HGR7\M@
M1KBWO*)=*%RL>I-BVYOB&,0IR5G^*-88@8A"YJD2KVE.Y4H.15O>T``&Q;U2
M+QY!>\`0R:%G%OSP9*0#+QDCOTY6N@-'>R?JZ!X>#)S$$-X3X"W.$/S4U6)>
M$!:\#"T.$YX#20.>#66=%-'#$#NASMCTU((]$_#"3UYC7/]KWAJ:7N5-S%.P
M].AL_=51LRY.=A%18\G"'=5+,1.*'A:2T<0$#3D-*BM^`]<O<P^;--(D)!&)
M[=X"F-7K;7=K[CSK0A+X[.%NX^D8X=ZL+0Q;S<75?G<.E0V.6Q8'/@^.<=S)
MD-M`[=ZBI>#K_>CVPT71]=:H;=F`/`^FC.PM4=3H8-N=:^VP5-5LC70-$^7(
MW"_ACB$<7MT64DG=_EL!`^_A#A,PZNW;Q+]]W=4$_^YPS<7V\V2[Y%ZQ(MO[
M;M4M7S_<1WLCG\^HS<4MG\IA,RX)\R$`X=Y-?!'Q[@V*=2$X?XG4OO'RQWHX
M)A;.?=NE18"7]/+K@!X!`]6L9]'_DJ,4()0Q7,U%<Q;O\9[HVY01+EZ[8:_O
M+GWP*.(MD5$T%MWRI1/N0?]M<SL1XRO0X"W<&='5`(0AW`[C=H<A9@DQ863)
MNH[L71[3\5(,L-0]#6]&_"#85+T2Y6+B).XU5#$3S-3A1-$]EN]D(?&[K,L3
MD$_8CA`T/A42G#_ZY3+QB035,O]D`T@..5,0O(_E$OY"P2\6W5`M!"H_)$U/
MB4XZQA\/3D;4D,3.YN,YBC'HP0+PGA+L)YTI7O5%!81-IJ+]Q1R=H:(2/J4I
M@]\I>V\6J*+01GZN1APMM(>),7KD='9F<?N$^`\$-.%0"``0D4EA0-ET/J%1
MZ91:M5ZQ_UFG$2F`#6B%PG<(.R#%7['02X/!O`7VUSMHTP2#,1PF+PO"8,+D
M^FCL!-D4OA`%QMP`#<FT)BDK+6FXRF`(F!($"`@,F<Z&!#QA`#X%##8#!,X0
MB!+`"%@#!`\(%!5HF(;.`@@*&/!8>S\;&HB.:,X$4@F.#O)P+ZVOL94RB6"8
MCKJ;EY"8F=Z$P!E6B0Q`_<Q]FP7@P7N;!Q0*%!?AB\3KP6\A>(,H6T&#D[;A
M(8#`FYN&]9:)&[B028!I2!:$8B408B]2YWR5.\#J([TAY"16[$;P8$N74Q*.
MU#7LTQDS-TLQT'-@``($#=CQ[#@D@!Q%"U\A,BE$`2L#0H@-R)7UA8#0(0S@
M'!##LVHS`C`:O'GVDFS99<R$#%"CMA&B,<;FZ%G$1RT>/T3`X!$T]]S=/Z72
M%AJ35\C@/H,=%:J#QVSCEPFS%8AEI<!3QY<Q'X2,30%A*ITSAQ9M:?-HTZ=1
M5RF=FG7KUJM=QY:-&?9LV[<UH\6]FW<V``D"!!<^G'AQX\>1)U>^G'ESY\^A
)1Y<^O7B"(``[
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>10
<FILENAME>c16419c1641907.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641907.gif
M1TE&.#EA,@$L`.8``/?W]]_?W^?GY_O[^W]_?[^_OR`@(&]O;_/S\^_O[U]?
M7R<G)\/#PY^?GP@(")>7ET='1\?'Q[N[NQ`0$*>GIS\_/S<W-TM+2]?7UP,#
M`Z.CHX>'A[>WMP<'!^OKZZ^OKY.3DV=G9\_/S\O+RP\/#^/CXQL;&R\O+YN;
MF]O;VX.#@T-#0WM[>U=75UM;6]/3TVMK:X^/CW-S<T]/3[.SLS,S,ZNKJQ,3
M$W=W=Q<7%SL[.U-34PP,#&-C8Q\?'R,C(RLK*XN+BT!`0`L+"Q@8&"0D)"@H
M*#`P,!P<'!04%%!04````/___P``````````````````````````````````
M````````````````````````````````````````````````````````````
M````````````````````````````````````````````````````````````
M`````````````````````````````````````````````````"'Y!```````
M+``````R`2P```?_@$R"@X2%AH>(B8J+C(V.CY")!!E!D9:7F)F:FYR=GI^@
MH80A2SZBIZBIJJNLK:LV2Q:NL[2U#0\!M;J[D`5+$+S!PIM+2R0*(!H-(`\@
M#2@/!0$`P]6J$4,-UMO<B!49Q>'BXS\5-`+=Z>KK[)$"&!(V#1H%"0$%'!PT
M,0OB0#OHV@D<2+#@H!(8'ARHL61""`P&(TJ<.`P!!1T9?,080+&CQX^)!C"`
M>$G"CR4A$(!<R7+BB(;4,!7(L*!$RYLXUPTPL02$IA$=2*C(2;2HL!-+#FP:
ML<`!!:-0H[*"L*0%IQ<G>(B0RK6KIP-5.\&JP=&KV;./""S!X<G%DA%H_^/*
M/:26A:<(2X;.C9AP0X*]F]0J]73#2$S`CP!P:'#XU(`1*&1<X)'AP@R2B"]1
M6$+@$\^_F1L-@.$@Z2G%#RH,*69"!H/&H2/YBO%I20</L1<%(!+N!B@$'%3T
M6^+`A0;0N3-]6-+#4X`E0I(C&K"A6(T/(R0X6C"!``6;A`"("`&D-P0.9:5K
M\J7`TP/3Z@NQ*,8BO:,)XHA8J&&@@S@+**0`6WR8>+"$"YT(D,,2'Q@E0``I
M"#`@)`#<P-DE);!0`W[A.+#`#`1P\`*!H`!P8"<@++&"2H:H,,,.%5A%"`)P
ML3/``14L8(`))VR520-+_*`)`B(4(`$^'`1$XO\F"+`H2`E+P,`)`_AA-H@`
M"5"5@0Y/$0)6EZ$DL$$!2BZ"0)E,,%",`Q#TX../MAU`0`@<+&F-``M80$-Z
M2Q0!7B85+-&>(4UI@.8@5+&5"`HW%/&F(VH5DX,!-4"P@@&8&C"!`23<,$$&
M*Q#R0@QYH6"E)C*`4TP'$=@Y#%+%R"+($@;DDHD%81UR04.)S"!H(@(PE"LB
M61JAI``;#">I!9&N6LP%I_IW`@M@)BA!,0AVLD)G>Z5@006-V&#`"<@E`L"6
M-)"PQ`."G)`!`P6V$$L*B/2PQ`F)!,KM(?/QP$-2$S+ARQ(%'*+"$D=P-(`&
M,J`0`91+P%O($6LNX`/_;IT@L,(2-6"\B9I+>!Q7=0XTHE8%]B$"BS8)^+"`
M(#LL4>TC`>@0BZV'D/*RDX0$RBXB&U-+@@,T($)#,7\2(F]TAABX1*N%C".S
M)T!F`#4G*"RQ0,K;!'"J*#`L<4$C@6[0"%C:,2&O(*1F"PD(^%T0L"`XV#;N
MH6HI>@@)'0@"UKZ%9)T#(LO)6,@+Q8C,A`#A]$#*U9M4!\0G0O2TCIHF&`*`
M!+<\P/,E#`&>2#$V-&($P8*4)\ASX#XR0*`D'&H(`E25@O,@`7@H.Q,&+"'(
M?'H9HA:^AV@`7?&Q:%Y,@Z1\XHL#(P0PC28FHCY,`RKP#.02Y39PDM@-;M)[
M_[F(.'T[L:75>6WK3!!AP",;+&C!B(VD4(P&B/3>0P0PN"W(KCN0`0],0*]#
MU&TPAEB.$@ZQ&:850EX!\`!#0`&6</Q@;HP003'(QXAW8.(#"C@?$XJAC4%L
MCT4`&,X,2L<)#?J.$0,3H2&>([/Y+.%-*[@!!PO!`!SXH!0:X%HB?)$#(3(!
M!:IZ2R$*L"`504X^%SH$XPSP.288;P:'"!L#`F``)(1B/"'``0$PN`A?$$$V
M^$&!N8I6B``<X%_L0U04!1$V6:$`5C)PWA*&T`A?W(",3+#?$I*P!!,4;!#5
MJ<0A$D"#$%C(!`>0H2+P,H$(O$"&(%#`#D#`-0800/\#BBL$D("!")ZDC1!J
M<B`AKJ6!$A2!!^S@`*TBH8!B*'*1%D`@$P#PO>(88E>`\]6@_&.!!X0R$[Z8
M0!]GJ0@,H*!V0VC!H]*4@QT4`@$?.`!^<J`!0";"9L60TBGL]SZ5+<%LAC!&
M%9EP@1UPD7OK\$4Y'8&G8A@@/1YHY2!JB9F!^>00M01<H.HTPG4QH004:$`!
MUU.,1B#NGHJ0@`(X1#]#C`"='TA-+$Z@`DE"XD8SD!@J'I#'Z9!`;X3@C4@!
MNH13=H-QF7L$J5:EI/D(21`!'00I!L72&<0@!@IX@+J`P;BDJ``<#@@?]=3E
M"+!,<XN%.-H+$Z$`"#R`!@S_,")("O!$0:2HJZ@L1HW2T;ND+:*":R%$BI@C
M"+?L2RW!,X2OI+8$B-`P'`3P:"1ZYXC-0(`:$2#`"0X`F^WM4!`"J*A<]"J(
M$8#U$R"`P4(A$3.E,B((K"G3`-Y#*R0L`0C(\0`/('#8797F!A\0P:[^<M<E
ME-035"'H(@"PL888HP>A--[37"6,TJ`S$K)D82-&8((%6%80-RK-$"Z@6"8<
M#`;KO$`&?DH_!71`)0GHD&P[49T5$:($$O@:`&2@`R"$8`03PDM+>1N,L.F2
M0J`80`#6R008T.00]JI6+<'C'ZWM#A,`V)4/*""!`RR@`T&@+R,&H*Y;LK<6
M:AD;7T$0\#4F;.:U3*BEK6;J/T\(H';%F,!Q+2&!USQX%WC1P4HV$`)"5,=6
M`E"`"8`P64\,0`(@0($-%'SB@I"@""L90+E2T(')'FP%&S!4C^/C@GGB1`2P
+60$X='!8=@0"`#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>c16419c1641908.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641908.gif
M1TE&.#EAH@!P`-4``+^_OW]_?S\_/]_?WY^?G^_O[\_/ST]/3Z^OKU]?7Q\?
M'V]O;X^/CR\O+P\/#QD9&0P,#$Q,3"4E)2LK*W)R<B8F)BXN+AP<'"(B(B@H
M*!45%08&!A(2$@D)"4)"0@,#`Q,3$U)24CDY.55552PL+$E)238V-E965CP\
M/!86%F)B8H"`@"DI*3(R,@```/___P``````````````````````````````
M`````````````````````````````````"'Y!```````+`````"B`'````;_
MP)=P2"P:C\BD<LEL&A,"`"#@?`FN@JIVR^UZO\O`XC68&@:O`@`]:"\2:&$`
M0*:_`&<#H'`&^_^`@44`#50``@$"!8@'!@$-!%=V+W,#"0M4+@(,"@$'GH*A
MHJ-,APE35H>4`7.K`ZUSB0$N+[2JM%FD7PAC"UD&8X`%`0E$`,$,#"\$<5X#
M!0A15`(&#2\'#+!40W,$8P6U=UFXNE\`"E8*CMM:!KE$`00$=IQ94U3!70AE
M`0QM=`3N!$!P!TT!!I/6O$`PD!*9@%0"EO.2Q4$"!'`^'1B@R8"#+)<.U&(@
M`*,"`)^&1%&51M6`!9CP=/$VL:8?3`*\B200X*0+_W#67F1#1XN5*D0JI;QC
M.<!`@@,7M]"T275FIUH'SKUH`("6%7$%K!6=DZ5`@FWQYK41-T39179-&.2K
M2M>).P,O$@0\F\"=D&!\O\K+&ZF8$+/%!@,3,D`9@P3@G!R8RVH+WBH%FK45
M(%+(%5H#-N6M2WI>D\E%C$XI$Y#9*X![3\Z;+83G0[57!@P6HJ#`@DF1*$UA
M1KINM4E'?$N$Q^H``G76T#G/2DUH@]`$&CQFP(OGN>\)3E47,G:(7C+Q$C!8
M7MRF@=Y)%K#GQBK3-0+%.IV:K":+_WO$B''4/07P)X0#E$@4&A$(R-5(>U4-
M<$!D1!1(T!'UV<<)7L[M<_^(`=4L*,U`O^GQWV,F7H9-%LP0,\0KP#P((542
M%E&``\@5T<9:=*AQ&!YJQ)''"P9DAH8>!?!!)#AK*#2$0D7VP1@X4LY(534O
MGF3EEEPF80!/(T1`@@LB-.#"F5=\@A"%7;9)%30!E(#!!1),T$(+#YQ@YIE\
M\MF`7I>Y*:@H`"0`P0-W)JIH!!3TZ6B?);$YZ*1<$)#"`Q8HJNF=C#[JZ9D.
M!"`II:0FP4`%&&RJ:@N=?NKJ7*7&.@0!+"BPZJJMNOKI5;+&ZIL&=MZJ:JZZ
M?BICKX,"L$&PPJJZ0:/%%GLALFT&X$"SPD(`;;2Z+C`JM<4U<`&VV6[+K:M!
M@=O_7@$>V$KNK=J>&VT#WZH[40$A2/!NN?)&JXB]5>&K[[[PFMOOI_\"7),`
MXQ)\JP81'.QOO0H#$D###J_Z0,02%]M9Q:(@<&W&MV[<<;1P@?Q'`2!D2K+&
M')_L*HXJ!Y(`LR]O:K+,NL)7,Q@(:)!SR3'S_*DR/SM3P="W3E"!T<4&FK06
M/3%]Z]-0NVK8U%J0X++5FV*=M:<.:,;U$@NX"W;88VM]MA,CK\UVVY^:_;81
MS\FMJMAT.YKRW44T\+7>B3K0-]F`(U$`!(1O"L'AGN:8^$(#-Y[HXY#[/7EJ
MEFN*>>9];DY$!YTK^CGH9TJ=N`$<E'XYZGW.!S@!:I?._P'L?/Y]=P"N)_H`
M[FB*_L((O=_Y._#O3!Y!\7@"?Z;D;R]?_/'`0\\U`*U/[[P+UD\-`*+%8[!]
M]TE_S[P$V^M^/?B]B^^\^MZS[SKUN$\+N/G%:S#^Y@6@P/SIL"-?TJ37NPWL
M;W,E8-[V%&"WMRV@>!/87O(2%P"<68Y^L-O:Y/!7.OV]3WB+ZQT`42?`J7F@
M@-NCV-D88$'"25!X0C"`_`@70>?);G(@*!WZG*?"MQ&@<H3#(.C2!<,"8(QP
M(\R<ZH1W`"#*S8"X0P<,C9$]%P+OADQ,E=XR`#PB3I$Q#2#<#F&'11A>3&\*
MP-T$OWB8"@R.:4(\W!(KIJ08]O]P"`8@W=J22#?X524\`9AC$^@P!9:DH@I5
M`QOLO%B<:."Q'W?P#@+HH`R&X*4?M`M`&0@!R2@,HXQ$.(`6A\;%(3:P+BO8
M1FA0PA#G.``_!MB(<XKA@M]PI9`X8F`4IE/"`8@@`TP;X^$<8#\(R44(J@!0
M.`HQ#P5<(1Q?*>1_HJ")G#1A`"9H(<'2F+EB0J@`"I@'2@AQCW`<`!UA`0!!
MO)(57`+``8LXQCP$:00`?."-!(MCUDI8%RDD228\(L-ERH`&.Z@A,WS8PY+N
MP$\\?D";Y#+<X1K*1AN9P(GOXJ/,B%E19[0K8Q^@6P.\R:6#5J%(>%2ACUI2
M(3L\@PS_;%J``_`I+)&>TDH>D4(5%E"D7M`S+[:(PF7&"2(H"*6>(,#HJKB9
M-5!:Z1QL.$!GH"(8>>B%IPUX)4^C09!$#`$CM(`#$1(VA9R0M$`.@*BB]'DP
M`=RT2PQP``,^T1R)C$4,JSP*)\Z!@`9<ID`<L0(4+E3+D2ZC4'@]`@!4P`%@
MWDJB,H/$';ED`$V<)1*$744K5N*?GK!B`'T]TB>XU\YM,+`R"P$&0Y*`@!!H
MP+&.DYD"&##9+9GB(I_0`U4%``6CI&(`7-DE,0JU$2+0(AI^905&JF.6:V1E
M"2BY@`+>>#)K=K0XA^C``QQ[L'#6]KKE^%(`.L"MLR@4O,F2_T(V^B$%)Z'W
MO?`M!W&8H5/C%H$!>%$G<>@S!*\@+;Z!B,)OS>85/*H#'2CE+WF(I$$`^T'`
M(P*NM;K"B6F=4QE10(!47Q$/`9A)*!1U\!)XVQ,`T8&:JW@1O5+!6T!ZM0"T
M8*2(*7+B>V3C!3Y)L4H\@Y(YW&,C'*G1C/_`TQ?P5!X22L!)6,2>8/!40FZ5
MQR$.$`6G#MD+XDW8E2?ESRW/.#->)@(PXK&R4<62%3U$A9CI^HJH"($A`6%(
M9D*L,.O6X4AGP(,=ZGN&A"9).W-^TG^"E`80&42=HG*2(=ERAX_Y^&.3>\<J
MX2F`<+J`)`Q1SQ@J#0S:A84[!\`/,JNYLI&3W!)'.(I"J+`1AW>.1PQRN`)!
M2*+.\R;N'94A"QW&D@MRY$4`")*&,[U"SE!GP2B=M4<_M/0B!/65&Y`I,&>F
MDK@WU/H4UQ&P"S3L#7F(Y!<E08=Z\*/.41,B&H>8I'\BT>,I=`:T[)[M)5DI
MQ7V$&E9O*P!/XMP0XER:`$E"\S*$L!YE#`.TK4!/*QP1$-TL@Q^ST21CT'P/
0B"PDD&]&ST^%5V!U!0$`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>12
<FILENAME>c16419c1641909.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641909.gif
M1TE&.#EAI`!O`-4``']_?[^_OS\_/]_?WY^?G^_O[\_/SV]O;U]?7Z^OKQ\?
M'R\O+X^/CT]/3P\/#PP,#!D9&24E)1P<'"LK*R@H*"XN+B(B(A45%08&!D)"
M0@D)"1(2$H"`@#8V-E)24@,#`V)B8E5554E)249&1DQ,3$!`0"8F)BPL+!86
M%CP\/#(R,@```/___P``````````````````````````````````````````
M`````````````````````````````````"'Y!```````+`````"D`&\```;_
M0)9P2"P:C\BD<LEL"@V<!*OD9`4XV$!UR^UZO^"F(Z%=+0$&X2"P"`S"\'BQ
M`+#667=Y`E`8#@A"`8`#;TX.!'TK!PL&!0L"#"PK"@@."T0"+`D+""P""@`"
M"`L'`FERJ$LK=(<!>5L-1@$(!'<&"IF>`*Y;`[B2>```@&VKGFX!?9DKLP0"
M4ID"KJ^IU9@!HL()#`@->PX"`@X`!P`+`Z*0!`H$#0"%NYY#!;GAPUW+P?$*
M`6;':\HD!7`C39XT8=82$B'`S8"`<P:X"3O@2<H>?M*PR6MPH`\>+;F$Y"HP
M@-P!*4T0E)-'`!&">[D(4!Q",<'*`VDHXFRIL">Z_TX.'+!P)PRA-`-M,`Z,
MQL+`@4B:=G4\%9),1VH]LVI=(@"02DT"#K0$A!-/@P9.#3C%4TI`H:%NU[*8
MB0?LVZUX\^I%16^OW[_6`J!$,J"-/,#="@5H4'#QF\&`(PLQC$2L$#.-M"0K
MD$9M($+\!AC0W*=`LJ:FP6;V.)9N@031IGF4+'D`@E-%+%_VQ.#9@@0M$R!`
M$(#;P!7"1+WL^+(3I&<`V`EX)W(I$6YLC<^F#1BV$0"QAIC)-.V`\^'/TY@1
MIE$:*(QVVB/PF#$D4B+##H3G'EGCD,5%C!??(T-)00@ZP+`7S7UOD+=+)@6L
M9`4##/!A@"]:!%*+(_S1!O\`5`GL-T0=@VA!0(85_H%&4[NX`0@@!MQ3HB:U
M\#$$A22=*`P@5A1`!VX=YF5:<0`X<,`!#KP$`!EW!>DD8*8!$$(*%T"@0`01
MK*#EEEKB,DR33X:94`'./`#!!"JDJ:8*7+;)I0(,;"?FG&$XI($":^:9IIM\
M;OD;G8!VP88$:.JIIP9])LI.H(PJD<`(9QHJZ0.)5OIGHYBR$*$%%$CJ*:65
M)IHDF)D^:<`'>'KZ::BL9EAJF``\H.JLH+):*5VO=KB`!+/2:BNKY^3*70$9
M6-"KK[^&RHBPD17@003'(IMLI0ZXRJR0ST8K[;25`GFM5AE`JZVJ%W#+J@)R
M?IO_4`.ICNLI!.8"2ZJZ<C``@;NSPAMOJ"+2BXH!$E2`KZKZ[ELI5/[*06RA
M`TM:L,&)IINP%PSPVO"[$(?:R<1UMGNQH0]GS">/''L!@K@?@RQRI0K,6[(2
M`QB;LL,K5XK5RTL@T.G,DM:L*,Y5%+`!SY[ZG"BN0">A,]$]&\VG`DDS@0+3
M33OMIK=1$Y'`O53K:36?(65=!``"=YWGUWR*?80&9GN-=IO6JAW`!6V?_3:7
M-T?-`,IULWGWEE"K/00(?:]9Z]\NXTQ"X6H>?G?<4<_->)J.OYTWS@%PS7CE
M:%_^<L63J\#YUQNK#0#??8]N==A9GQZZZDZS'K7KD\-N_[3L2=.^^=];X@ZT
M[H5CP+N6ON,,?-T3#$^\X'B@WG:YRA?_<G2U*[^"]"5OS7@%UB/'?.:,9VF]
MYR4/<,+NUD,>M0B,=\\,\W@43H'[\&NBN=D2=%^ZX`,XD'KW)&.>`)#GOL0!
M+0'.XYD%NG>)^FE*5F;;```=*(0&,(QH%4"4\AP@,;4!K&L+M%Z_ZJ>`LA$M
M9']3'_,(8#&BV<YH(W2@"G;&L^Y!YB^UN*&@`F``DF&/"`'PV,<4,#X/$4>%
M38C%0'BQFRH<(('X<H#R6D8;*E90%+J`DS1L4X`&,"*(BE"$@C@!C%'HT`@#
M,`'/A#>\,^[%'U;H1#GJ`YLE`?^`./QHX'IVX1Q)W#$`0F$"(%,VO^']<"M=
MT90!.D&+^A1@!0LH``,:(!C_['$6?5E!.P3C!`"T<&!$Y%VPN#.`<D2B''7`
MR5I>HJER\'`F8FG)(I\BCQU500!0/-8+158M"CJA`S0<5_)XYT9?&F%A^`KA
MXXQ9A0%\X(+'DN`RG603\A4A$P/@#-*^HQ-7JL$R)9%"'H@5S%EE\&UC"-,S
M/.*&0"2C,YRYT#L@\0<6K.$)N"E,;(BPB#KL8A>0*4`'A.@I95KM$&**CA2.
MU("2'#$VGR``,RB!C0%P!`'H(-D">N,)6N"G#@%XRFV:=`"Z]0J%-;.BF!+`
MCNN!PA__[<%&&8Z!C>@(8!4.@(I#&!"L`GA4"`@1@DT8XZT$8,"$D_I:`SK(
M'Z]$YT"F&`C4E`*,^LS"GF\PC&EX"E5!O"&H`V"`*XAS3`0,K6A.4T`Q.U0+
M0-`A3G2HPS88\(>OLJB>>TA`.(E0SQRR@`!O&`@^6<"``!:!`!WXI)I"Z3/J
M,#,A)=D54J58,V\\=BO1(52:V`BQ)"'QLM98)`90.JT%(`*T@'$%8Y-%"P.B
M%B]K$`8"PD';<"A)L*_-K6[CT`C4$&)L13B-:'K['U?QZ+.[W4)!I,$3(L!1
M"`28CUO*,J(\0.B0R67"<@4!",:@11%N&0(EY'BALP0#&[/]_RMRL]N$;/!#
M&(5E03$BE(<@-F@Q11%&0[TC`*:RUPG;+0HQ^A$,3%0G&S7"9G\;^%\P!!@-
MIJW6'@U\C!"A84?IV$.#K>$C7V!MP_R)ZX=!3&+0DBD>"BD)BI70PR*HN`Z2
M=%5).J-3YGUEO4Q8\7\RP8\E,'''0R#`.-2`S8_,PK43Z^\0&!.-<5S/`:-1
M0!L`:88%+``MEE@,9=KCE(>8Q@'L\NDGA&':0%`F+'=@P`%.\Z'BP"\DY&`!
M<9XAB;BZY9%L$&ITCA&*/5L!%,2YA"NC$8J_WG$_IED'+8)J#I8J4B5A$5P#
M!B$33SBD#!&:)&@TXA!'2V.2G+1")D\V>@D$B#4:'!5&2<+3X4.$@CS1+4#@
M#`";4@K.*0B9R%S40P[1J$0M%,FT$G'"GB<019+DT.:N*R06-:/$*63]*R#Z
..2PX4:>*GEWWNJX(``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
<FILENAME>c16419c1641910.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641910.gif
M1TE&.#EAI0!H`-4``']_?[^_OS\_/]_?WY^?G\_/S^_O[V]O;U]?7X^/CZ^O
MKQ\?'T]/3QD9&2\O+TQ,3`P,#`\/#S,S,R4E)28F)CDY.2PL+%E965)24A,3
M$RLK*RDI*1(2$B@H*"(B(AP<'$9&1BXN+A45%6)B8E55508&!E965A86%C8V
M-@D)"5Q<7$E)24)"0C(R,@```&9F9O___P``````````````````````````
M`````````````````````````````````"'Y!```````+`````"E`&@```;_
M0)AP2"P:C[`!@S$`!)!'@50`-5*KV"P4P10&&((!3,'P:L_H-%*@,!B<`4,R
MGAP,#@BQ$`"`%0HP!@4!`X,P=$(N?@9/<09B?UYV$82&=(QR!8QC`IJ(!*`'
M0FX*5$X`"')JJZQ8"0X*,`!X!P4"J&\.!%)/>TX("`H!$;<""`>S0XH""6RP
M!`H$P$T(`0$N?,;(!P8(J##,;``+NP!Z`M97OC`)!P1.JJWR\S`$Y$[@?.`!
M^'Q-3]F`H3/EA(JZ98?XX`$G$$`G&(KX!#`88,&XB0DQ&E.%#J.0`A&(;!-%
MKZ0:0,CP,1.UH$"_/D/X!`N$4:)!9>`R.J#"(!8I_RH1"X(KX"!)3GX8#2#S
MDB`!@$<5]1S:I=2DU3/O"#`20Z`>`$"$`B7H=>B)TP(#NEI+6R]FVP%/"#PQ
MX#3!.[!PV'9UV;4KW#'OG@YI"I4?@*Z'`GV]RKBQ8R+J'DN>3/EQY,J8,VL^
M<WFSY\^;.X,>3;JQZ-*H4[,Z_5A3DD=2A2`>U0OM@'CUI,(DJQHS:\?H9`4`
M522R`38#.A$`-"1XHD!%>S^&&W@<'S["F`,':"T.`*?@%`CVLP!!@D-V`,1"
M-Z"I(O'2KP9`("`#A0</7NAWP;]___*\E23`3@L8QH0!RZ0%$PP(++#',$HE
M]X4PBAP06WRL$,#`!A5@H/_?AQ_Z)Z)_NI@4W"D./4<%/T.P*!PV!4WT1(48
MMG+'"@)<`.*.^XWHHPL15#//B88UDP!"+B;TX`%+H9/`,2XH0%*-:!2`0`4"
M\*CE"S]V&:1V)\EQFQUP*>`@((\,D>9KAP#BVA^$7$@E%'1ED-^66G:IIPNI
MF%1*&'-JI@`%'N*YY9Y[GI?&`#M-*8^<@68A@`6&&HKHGM%Q%HMLYLA"0%HN
MOB-;5_I<TP=QD581@`5W5GKHI7I&L&D6B@C1SBX067B+.TSB&D$MT3#A@F'?
MI8H$`1OHZ"J>)<":J!81</0$4$*LZ-",.5F9XC+'.&JLK1DL6VD#SNXY'A0`
M,&#_35U%U2H``;Q^=U-3N!8H48#&`B"!N..6N^=O0L#E)AV]A,&<(7YX(0A-
M?N!+Q$3%]@9`!?SVZZ^>F:[FF`-DB1<+`4WQ(T=3"MCE1['M@4P/`)16;"BY
M%^NYH!'O)`!I$;44(1YB+@WQCZUN0N0SQ^K>`LR3,"R@@*RPH--3116!>5(#
M"+C\<LS/1N%4&5@X-X0P+<'`0*WAJ5M``DR<%ZT7?61CF$9"%Y,1139"8+7%
M6'<I=;4!D'&<`^>Y<(`#:#FP@-)@%$&X-&17^!7:BS73MP$<AX&.33DM0T8`
M'&OD<!8&@*#LW5O"G/>/#N!6K>')M=&N+!+!`'@$8$IS_YS00@QNT2(',%"4
MP'-``MO"8"W"")INJG[&`123CJ?II_N(@!7IL.=@4/@4.$#88RSP"!_#$M&3
M$,'@<\;G)G%>M?.E1Z_GK+DSV4:O.8$R@#<,O-,G.,B<4P\TAQE%&V8A)9C<
M#'<^RU\3F$2$9#3A8U`00*'8IR7HN4]$#DJ-<YYTFP`P!RX(VD3N=@>#I0C!
M3*;@AP+V)IOF4;""%^S2;$B3@`B<YTFVX%PZ9I2,)#!`'[(C2SB2P`P&H.4(
M)UC?"WEDP1CZ1WF?F8A<A$*L1-!."$N0PB&F)QL'-$@/($.%U':QQ/8YT4>*
M(HU<\F>E+TQH<P/`!M<&`0RQ(?_&'`%XA9@2X!($2(T"933C&464NM)DQ58>
MC)AXFD`7J5B#'7HP(,\`D0#X'0*0@63B('TTPV]=Y0"9A.$F1<1%3UZE`!L(
MI29'*2)3,H8`+E2E?B3`2A%YRY7R>,$$9?F"!]32/P##Y1EBR4M?_K(_PBS)
MOGCY(6,>TP4L3.89```"9C;SF?R9F333P(!=%A.;+@CF-J-@S6MB,X/C3$/+
MRNG,9Z93#<MD)SC)]DXMQ-.:[3QF-.MIA'LR,Y^_1!\_U43,;X)3H`,]1*OP
MF0((./2A$(TH!"+0@(I:]*(8K>@$6M"""2!TH`4HJ"P?L%&.FO2D*$VI2E?:
MT8\.U)__O&Q`"%A*TYJJU*,)Q0),9=D`F_K4IQS89TYAL%-50N"G2&4I!(9:
MA526\P5'3:I43[I4IJ[AJ1C@P%2WVH*06#4*WE0E2;DZ57$.E)KE%$`'R)K4
M"73RJP$K:B`EP-:D<@^N17`J,RE05Z1R`*]',$%8,QG5OM8T!&9-*"RM65C#
MLI2$@"5"<OXI`L?6U`.1/<(+1A?*!_34LBO5``DR2[-UAE(""P#M2AN01M(.
M`9.JI*MJ55H!*&:6`')E'U]GBU)RN-8(!DBB*G?+6Y-2P+:D+44H&U1<D[KU
MMTA8`&=?Z-GFMB`$7H6N$09@6NI^MK@->*MV<Y>E,DK``\WU_\`(QHN$T$W7
M>1(HZ6PU@((#CK<`X5HB!3107`A8DKTZZR[IB*M:$8@7P$2PQPN_"]H%W!+!
M1C@`!91X-P8[UL$0U@("8&NU!WQ`M0M8;X:U<(`%D"Z^H/W`@T>,A(I06%P6
MD&]?(Z!-%F-A50M=EH7)JH$2N-3&DC6!!=Z+IPP8M@$LL"^0VYL`">083UIE
M:P<<<*XEJT$)%"#RCG:,5`UPH`M6GH<2I(LG#'QXJAJ(P%W#3(_[96"G8VTK
M!/S(YL;0104.J$"KU.K3#BS``R3@8YTG4P!X7<`"%:#`!&::T@E,X`,B>``&
M%C/HS1AF"I@6`#+(XD%Z+&Q!8:FT//\,$`%0"%55?Q`%V<PGZ@PM*#D&6T(U
M1,&-4O2A=R76A:J7\`^(M5H-K%X`7-15%%T4Q4%-2XXYX`"4.SAE&)O[-1K@
MA1,)4>08?;"(.8B$$>R9BM72S@(#@-$W^@B#(@1P@1AHL8\Q(`!7@NO$*8X1
M[GK;^]X!N\6/_[<)5!V!'VS@!^"\<(NN3.-3O^:<*MXA!_$8X%-I28M<YM,1
M0J@G(;$!(O>25/`:#UH`T)3&_33$-QG=XQ2P$W8>7*`ZPB4!G;;@&#N\P7!I
MVV(<4@!B1RX'.Q:!3PK0H$1S8#*3AZFC';<3=0'PX$<JK_`65LJBS[=M(`8>
6X%WDL\B,,E$+"X<HB@%*,6$:@@``.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>14
<FILENAME>c16419c1641911.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641911.gif
M1TE&.#EAG@!A`-4``+^_OW]_?S\_/]_?W\_/SY^?G^_O[X^/CV]O;Q\?'U]?
M7Z^OKT]/3R\O+S,S,P\/#TQ,3%E961D9&2PL+"4E)28F)H"`@`P,#"XN+A(2
M$B<G)T9&1CDY.145%2(B(AP<'#8V-BDI*2@H*!,3$PD)"08&!A86%E)24E96
M5@,#`TE)22LK*T!`0&)B8B,C(UQ<7%5555!04#$Q,4)"0C(R,@```&9F9O__
M_P```````````````````````````````"'Y!```````+`````">`&$```;_
MP)MP.`PT!#<D<7DS&(0$P:.!8%IO`.75.MA>N\MLXWE#"!J$FT)@6("]\+@<
M7AL*!@$A(-`M^!,*;P(`-P$%6'Z)>$-9-P4`!8L`A`&$>'@)D7N76'F.D$F#
MG$D&"(=%>0*&GG.MKG('#P=)!0@'"PP`"0,"#`L-!V1)`*8(>PT%J@JVLUA(
M"0L"!`\#"DD+"KH+!@5H60<-``\`"K@WT-(*@=!D=0&L`8,W!^_TPJ_X^4(+
M"5&=[\/D#=I#:)`J4P`'O=NC!PF22@P"5*D10$&!`](:$41"497#0GOR8$QS
MKE`S+`Q.S4.`39_+5P=T^=N#31PO0@J"V2'V"$^J_Y`,G24!62#!+`$+W%P\
M$(7`QALUR`%8,+12@4!+A1P`YW0J@)1"`K&T]K)LG$E/TACH,@!`6C)NAQ!X
M,NG&@"YS[ZX58B!-F@%TX::I:S=O7RQVX_Y-VY80([8#G+[I8L"QV<N8,VO>
MS+FSY\^@0XL>3;JTZ=-7+*->S?HRJ]:P8[MZ+5LT@2X`(&>^/:0RR;MV[[6B
M71LT@CPUK&7#YY2)1`9#%@38-0!!%03"YQ`O[CD9KSK0Z5$Z,&"K@7=WMT82
M<.>`R@2%W@P+.4#EJ^W<.4>!)`#C#:KAU%"``0\4D-<@#=P0SD)D">&.9=-H
MA=$!"CRQ1C8DR96%`!5(</]!#2""R-XC^6VF"C$-\)%B`@#4,=0O\32BD$@-
M@`$?'T(,P**&Y;#25@'QG%'#!!`H8,.1#H2H9(@)@%5B60'444`-;B##HHM(
M8(.1C%,A%0`#8%0$'0($,)`B9=8P4`X1Q*C@``1P.E#!!!,XP,$$&BRI9PV`
MV/>D*VWIP=A<CI'DUEQ^T=66?+G=@"A:3;"580$H@`#!D9AB&@$$'%3`P)Z@
M]I?=?4(<$@D1?A!!0#-,^:F%@791]2<1"\R9Z:VW.O`IJ+P.Z!*6CL@'$!&[
MY%3?$BZ"Y,A)?_+B`*[08JHKK]0^D.$KP"ITQCL--`"='@TD4)E#*4*E8+B$
MY#+_JQH)1!#MN]-22^T=^%`T71+Q_(,<$0U0E4461D`%T'+?/DG`!@*\JS`$
M,L@K;R;8"N$0.(6\L^].SNQ'E8!5#,0L=P4X<(+").?I<+55M*+$=:M*9,@A
M6I3AUW6&#'6<`JM>6]P!"9#LL\DG4\O`J',LH,VZ+PGPK,\E!^WP`T3'T9;.
M2+NB--,_.^WP+E6;9@`#2V.M,-!:\XH&',148A;5^1TP@=A9ERUOS%98VP06
M:DGFU!.^%49H%[\,)E]M;L,=M]Q";]&($`BL$5,-JB2`0()J*O2`+48`F0D#
M"!1<VP`A&&GXV(@[+"L3BYO[[T/[(@%P'KPD4`E'`LC._UV[HY-L0ND.#SX$
M-';M0F$C%>F81'D60V6``K.?`UQQ"%R:N\(2\/[PJ`:(=UXPQWX9@%\!S%(7
M`880X@<>'[=&0,_34V^]O/AY,6S75]C@;OOO5O\^K_W0G]D";\-?_O:7.'T\
MSW\WF,#]!`@M_1$05*H1&%+@,#^^J`-,JJC1$!Z0!^G,(GV?"1D#!_C`4"&K
M8MM;RU:H(IV(G,=/-2``&C18B.,4(@F!*(T`%CC"6SFPA'JZ!T48$(5:&(-%
M_4)B^(A(A`-400$/@$_P&$(^#YX.-`3@0`^C]4,@*JE!YK)%'5:'+]89P%N,
M@)H_SC:=<)'$.@M(66@4P,,M8O]J`EX$%1$H@@SK]$=&"^"@[*0C10+4X#@#
M2!$UR-0)*#R"`9[SC`$N8$=H)2F/>CK=),``@+PYR@F=O$M<FC`)0E3F+9'*
M$11\QQD`A*V2TL*DGL"(P.'4$9:7E*62:HF/$<`25[G4)8@BR$LO$*`"O\R5
M,)4$PF):80&O3&8PA4E+9UXA`+?$Y3)#1#=K6@$!R53F-OG$2F\.(9NPW,`X
MAVG.+:"SDA!89U3:>85WVC&>Z_03/1T%@G!F"I_CC)\W7>E/3`%TFP*U)D$+
M:@,(I&"="77F0AF:`!I@@`(?^)`L(UI,`ZB`H4?B``5H0%*24B`!';C`0Q_(
MT6+:\Y[_&2BI3$DJ`@I((`,D>-\5]RF$E]J1!#,-JDQ1JM&R$7.?*``IDC`@
MU*:6]*(9*$'0CDK/`"BUH1)PJE9E>E()2'5/W>1I,JY:@JV:5:8KL"E.0Q1)
MGF(A@"`=`5//2E>27O0#&6BI,R5P50AXH*Z`):D$].E6T2DUIH&MJ]W<NH0"
MC$RI64TL76?`6"8,`)E*G<!?);M5$1"6L14P;$$CT`'.;C4#Y71K`#9P50_,
MU;1"E6)EF4!)I3I@I+`-J@<^6UD%/):A&XAL;F5:@ME^H9\@5<`'ALO5:AI7
M"`W-[&MSBP&N/9<)!'"!4@6`V^$"XKI7.`!K&:J`"S"7!AR(_]IS#8!9AHZ`
MN1G@+7AU`5+NYI8";07O$AB0L-$NU[08,$%J]2N$#4C/G^\U;0;81F`B7/;`
MR9Q`=P/;@9TVV`H$<(!H81D!X0*V`\ZM3=JHVAD"A,Z?_P6L!UJ@7MC4X`U[
MP]M=U-*64R8&,KR1`^@V;,<*3-BL'?!<C%^2AE/91;Y>T`(`PL$&`:7((KK@
MF4T&`;5X%.`!K1B`"2!LQ^#6-<A$X!QA\,&-,@RC(?K0@MH&48<9/<5>(`%(
MLG2,@OY6LL-G7<$%KFB\(?"7*@(P`P&LT9->.()SX:I%*)#2"$B^XH\$B&,6
M!M!FH#0O*MFHD9Q?48H)\)B!(3"K!_]`$,'4T4-!ABQ%1:(P@)0@A(@,<4@!
M<)&%B%3$%=E3&SW2D`=-Y"8WA^A@`/Q%B7P<P`5<9F#MG(H!";3`=SHB@]H"
M5+&K0$<5E0!(K.=C$`$P#\FS$H`"MQ@!\PJ5`@7:P@$B$HD43:1BE#Y$-+X'
MD%;+")*/&`2[%9H`.S/0W#(5@0GTRLMCC88?%?"ISP0@@I)*@`2^*B;G#I%C
MU(558'PP0+_Y\IS_#)L`X/Z/#03``85'*P)1]``,=&+-%]O%VP.0CJRV\J]M
MU,Q!0U@WW=P![RP?X`4@X$"R%78"<0>:Q%>H8I958G!U4^860[@(90)`EWG4
M8!:5^(KS<H+_!3=*A`AG"(1!B!"^E^\!ZJ^HA0!"X``!P.GM;]^`G+Q-<&0=
M4&J'L$;3K9"`<3@/#+SPQT.,G$B"`&1VA!"'N,X82?8DH`&+%8<PX!CB5G2E
ME)AO\1PX^`0S5"$>TMG7`\81Z,M-NELQ1T9O!K$?3E(]0=D85D1J=)6O3*<-
M1_<V2^X5EL[1!0FF.*0G(ET`_E;-`&<HRG0H5C%SC4%&SO"V`B(")K!/(BIG
MTS@#I`@`"DT?4EA82Z,<=2B\C1(+HSS,;4H)A556+0W`8-$C$H0'[+19**[K
M1264XCE1P"<CI/0M]?%Z%_8*,6`!%I`]".@("%@-!\`"9D8`56`!&@:"`-5A
7`0"`@/;!2`@X"Q!H'21!'A)X`$$``#L_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>15
<FILENAME>c16419c1641912.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 c16419c1641912.gif
M1TE&.#EAT`*D`^8``'^=F3]L9A]33`]'/U^$?X^II2]?69^ULK_.S&^0C$]X
M<O___Z_!OT!L9D%U9SIO8AU52@=!.`Y(/L_:V$E\;15.1"MB5M_FY21;4%""
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M7LO<U:*^M82EG$MZ;W6CD9&RI^WS\92QJ8ZTI52`=BUA5UZ%?AY42VR2BA=-
M1;'+P=/BW+;(Q66+A$1T:4-T:.7MZEF/?0`[,P```````````"'Y!```````
M+`````#0`J0#``?_@'N"@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GI^@
MH:*CI*6FIZBIJJNLK:ZOL+&RL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*R\S-
MSL_0T=+3U-76U]C9VMO<W=[?X.'BX^3EYN?HZ>KK[.WN[_#Q\O/T]?;W^/GZ
M^_S]_O\``PH<2+"@P8,($RI<R+"APX<0(TJ<2+&BQ8L8,VK<R+&CQX\@0XH<
M2;*DR9,H4ZI<R;*ERY<P8\J<2;.FS9LX<^K<R;.GSY]`@PH=2K2HT:-(DRI=
MRK2ITZ=0HTJ=2K6JU5%\LFK=RK6KUZ]@PXH=2[:LV;-HTZI=R[:MV[=P_^/*
MG4NWKMV[>//JW<NWK]^_@`,+'DRXL.'#B!,K7LRXL>/'D"-+GDRYLN7+F#-K
MWLRYL^?/H$.+'DVZM.G3J%.K7LVZM>O7L&/+GDV[MNW;N'/KWLV[M^_?P(,+
M'TZ\N/'CR),K7\Z\N?/GT*-+GTZ]NO7KV+-KW\Z]N_?OX,.+'T^^O/GSZ-.K
M7\^^O?OW\./+GT^_OOW[^//KW\^_O___``8HX(`$%FC@@0@FJ.""##;HX(,0
M1BCAA!16:.&%&&:HX88<=NCAAR"&*.*())9HXHDHIJCBBBRVZ.*+,,8HXXPT
MUFCCC3CFJ...//;HXX]`!BGDD$06:>212":IY/^23#;IY)-01BGEE%16:>65
M6&:IY99<=NGEEV"&*>:89)9IYIEHIJGFFFRVZ>:;<,8IYYQTUFGGG7CFJ>>>
M?/;IYY^`!BKHH(06:NBAB":JZ**,-NKHHY!&*NFDE%9JZ:689JKIIIQVZNFG
MH(9:6P000(#!`Z@Z@.H#HK;J5ZD6I/J`JJB6"D$$KN9*%ZFGJNJ`JA9`4(&N
MQ-Y5Z@,4;+`!JL4V6Y<$$&CP*["W.FNM7*8^H.P#$%SK[5ND2ONK!MU^:^Y:
MI%+0P0802'#NNVE!,*NJ[<)K;UD0.-#!`Q@,>^^_854@+KD`%^Q5M+]:X*_!
M#&<5+0446(!KPPP+G+#_NQ0S+(&X%F"<,<`18##NPA\#+'`'%'A<\K\84.!`
MQRL7'`$%'E@0<\$5(/L`R3?#JZ\&*O?\KL@48#"QT/!2D('-2,,;\J_E-GTN
M!"XS+?6Y(CL0]=7>2@"QT5R;*X&R08?=;`064/#`T69;:X$'&K3=-<1;RUVL
M!!EDP+;=Q.;K0-E\NPI!!U8'3JP%R^YMN*@1S%KXXJZF_3CDH4:@`05U4QXJ
M!ADXH+CFGK8L,>BMXNT`Z:5W_CGJFD:0]^JL8]IX!CS'OJD%'0!N.Z94C[X[
MIV-K`/OOE,Y:._&62ILY\I56H"KSFDJ@JN[01PH!N]5CZCRKV5^*0>[=6UI!
M_P88A&^I`Q0,;[ZB+2^_/J-XK_V^I!"0/W^D\=]OO?WZ.SJS_'$R0%@,0("T
M"&``81&`6P*0``1RQ0`"+,L``A``KQ`@@G$1``7=,@`%:@6#7>G@631800OR
M80`.U`H*YP)!Q!B`@A[DPP:U`L.N:#"&63D@5V*(P0G&4(=9B6`-O=+#%"J0
M@DBD80FS$H`4\D$`/U3@!)$H0"0BD((@#%C1YB0`!!3P*P$`0%H"@$.M%(")
M;A$C5PHXP[$4``!8[`H<YP)'!1S`+1/0B@#.^$`!:O`L=50C5\0(Q1V6<8%+
M+$P!:DB`10:``1$\0!@32<``+/*#"$@D'P2)@*P``/^.!&```N>8E4[R09*D
MW$H7A;A$,5)0DA4T`"P/\$4O;@4!@CS`&:<H20'"$H&25$`!OOB5"/RJ3@0(
M@"G[&,8<>M"'-%0@%*&(0BB6T``3J&`,R9@5%+:P*]R4X0%Z&(!QPA"$3>2*
M`A30E1>.LH0SM.85R:G'=&I%C7`\8`0%$$$#(!"*^XPA`TI(@`2<L(0#2$`"
M#BC-":;0G4[$9S?M*<85/K&"%BTD$\MXPQPZ-)IM+(P@^<#'K/!1HEX1)!PU
MR<DG&C2([$RE*5&Z%3BJL8TJ-6--/7G''!Y`C0(@0$\]><^=FA0L$2!<G0:0
MQP.4$0`$L*,8ATF`J6[0`([_/.5"5^I%._(!FQ6LJ"03<,9RKG.D`QBK0<M)
M3G/2TJL#6&0!</C2K1A``8\<P!SQJ@"#TO*1BTQ`!1OYR!?"$81J+(`!``!)
MDD95E`(0XQWY6%(9)C:HBQQG0A?:S`,(]@`(9$`R,VE4,6+5D@5T904+@%<2
M;K*@!F5M(@>0S`(@$`&?!28!A*K)P0CRKEL9YR:_2LRM!("=?%#`"UFJE4XV
M<"MGE"E1"<@5IO)A`D=L95&_.M(+;G*AGFPF20>@`&+F=+O)[2T?'J`W.R7`
ME77E;E;>2]WA,D"G^%WI?9,KP)GR(0$1!/!QB:H5`&>EL2,EZH"'^]RT&C6E
MD]SI_TF1*UFMT#+!FPQ`(S?)3@.\U,,D/0`[#3S4HPYWJ'?<8#/YB$7DXK6F
M&JYP5NZH6@'4M<6EO*X3C5O!GN+XE.H-#`,0@(#EPI@/%T#`?KNR7UG*4)-)
M)G(G$RQ&Z2)9R5T1['>?C-Z;CG2#`$@H=\6[WPN@-\H"%*1XM\(_.V62@GFD
MH9?+^<D[8I6=RQQNAL6[0?^J.8EZ)G"&`UW4&5;YDP"H+(:Q"H!,SK&J`*!Q
M>(F:4V$BUM`5Q*D,+_!/`!?WO^1-<Z$S764F`CJD*Q5TJ2F82B3^E+%/9.U6
MXAKIL)IZAB$EC"`%@-P9*S#,H.V*+3>9W4$VEP\$B.B@<_]\XAV_.0!YU#2!
M;;P5`OQZO+(5HQWA3&'T!GJW6[F>^^`D`%B6\X=J?&]DNW+&)>M9OUFQ-A_\
MZ]W_NI;0]6;`M8UM:&0?DK]<.>DD+4GI20^WI'R,ZX,'36WB\F&@E`WS#C=,
M4IVJN-1/#FJ\$SE2A`\7B3<FXZ=)VLHKVCKC7Y0D8CJ^E?VZ\M.*O6>=G?K@
M3C;<X>!F]LM5:6ZG:ES5^#6Q&`M:5C%>`(GE!#IZW>TR/1F8B26&JE0?GDQV
M1M7.6<4G!;O:4P8H0*\G'&M92XA6M0K:PH`F9##+^-,X`F"=CB:C)(7Z;K(C
M>Y&0/.Y[%T[*82I`E'T])0(+$&?_KOPTWID5X&(-J^<-BI:W"S_M,#^^VM9N
M\*\%3";-L]+7<I[\\KM5^6&ZZ\C&ZKG$VPX`.IFK<U"*\H2RO>3IM_)T&<96
ML`DP[P=G^<6*BM:R3M:*R]'.S;D+EP\SFUR=LJA)?HKPJ^G\YD']Z-$P\M.X
MSY?A,QUXR'`^T89-Y/Y$LSC1)9*1H0B<X/<]",1GFI^CJC2B$+NIP*H2,87J
M_Z`_I=E-!QH@J(E41A_U?18%40XT0R_43O[T3_WG3!9E&-T7@$%D5U0T:SO&
M0RKD?4%D3]_W52FD2?ND@6444NQ'?T#D41WX9-Q$02GT/=1S*6NF''-%%])4
M63MR.>IC_RE_M!SU-A=5E6P]@C?ETS^.4C_'HR>?-')J@6%WP82$!A:0IH1@
MH4:]5AA!IA<)5E`[)A9Y)AD)!0!^9'XJ%%])F$.(=D0TI$>?Q'XQ!&D8%$:?
M]$1E&$+Q%48O96-@*$-,!``&!6EK>$)JUFOF]TD!T#@Y$`*IU"=5=H5FX81U
M\64T%19=6!:)9869)AA4UHC,1AD`P']K)D@$0%I$E0#L%(/GE0"F-`&EJ%VG
M-'QR1E)5&&^B"&)2-(/71HO>!GF;9&8$1E99P0-JXXA(F&.[=42IM%CLE%!?
M1%M;I8<7)4/)Q%T>I%!.9(<;!57=1(V[=@"D]7:=F(V?MDP[J/]-0?6-EM5,
MO!99Q<5/6OAD!<2,1W1$"9A<'^1!R%551W0`3@5/8;1/?*@`.%1>QNA!'N9B
M>0B-I+98-35L"G"0?=6&N#1OZDA#X,48E?6)9K1'V^5*(W5>E95BK(ALHO:*
M3TA2&KE)'UB%5;9C':=PFQ2'P]5P%4`!PR*,>>)[2-9A9U0`!H55W^=4Y>58
M>X1QG<5.PG1=Y79^6V&4[*1+R,9.PS24QJ5&$U!`G)96O%9<RR1>KC10#_=$
M^H:*%K:#3#10T+9)^R5B7=1![59Q;BE?%4>*#U=L5&E0"!!:4,0!B91-R&90
M]^63"K1W179*5G=?!5!B>K9WC85=QC;_;V<45=_518TA>Y:U76`W5*;%1ATY
M:M4&:/A&:,U47RHD6=(4;%G!ET15;LK633(&1_HV7`#)!Q4`/B79)[A$<W'F
M<4,%F<,%5$0Y5=/V7O'U02OF0+\YE4+'0-W67(3(E=`XB@ZT3%YI7%]T06_G
M<"ZU2:1U1J*)9-#HDV#)997X9,!%<M#%;,K%<D=U4@Z$F.-9<3:H9W=9<`#'
M&`D0;,J$:.DF0`I52K`F0[CTC:_6:%RF1-)&:8@&H`4PB0:V=T]$2P4F<4`%
MH8+6H&&E>I(F1K-R2X0(*"/E7T2U3``P`406747E97HV9$160';D1*+53#EU
M7GM(8#9%H@A0_UE;*5'])J,OR6.F-D>:%@"<EEX29V$&($IKUDE@1F!(9W`$
MQ@%2II!=]F[>1J7T:50B>F5$1GZ(`788>5T4E`!Q-E57M)E$15ZT-T7H!6*0
M*'A<D4T,5'@H^8H=:9S=M`!A2F,5)%C:M@-#6*5^\J$FE7YW]'K/N5T*R4?V
M%XF<%XB`&&@89W\DJ74YQQ5;R4<@253RYIW097XOU8ESM&[/"7%AAY@V=D;E
M!G7BR:0B-V,<MXGC96'=9*+$=F"-V5,*AV%JE*4VN7*5J6".=&[#15VFN%VF
M*9G2AI6@F9G&%:R;5Y^/.E+*16!5A43814H_50%6$`)R-"B">D(,P/]8`C0`
MX>I7;U1`"<``!?!&=W>8&(=-D<9HI@>N"9I3Z<J3(R4`55EW:76NMP1=D79?
M_38`-ZJ/%L98'ZB/3DE*]WI?USF#$6FIUQ2N/24``X52EW>8T\FDMTFO/3D!
M(SI*081+ZMJ8\#J?&/9&DCF*'<L8X=I8&(D`Z*9G9I:?<W1>1_I)KTEGDI5H
MK_F2:RA>)2:S:OA>D29#;X1@_U5GQCJ5I*0`"Y`RT/9)+Q6@4H@G.$1.^*=Z
MIJ9"U/=5^Y>"T*1!%ZA-*?A,7ZM'7PM$N<9\A911'Y1]\ZA$&G6"U^>,(A1S
M#Z1*E%2W#:A]QY=#]>1^$91_*:B'\#=1>A3_0DV$0>RG@8G142?T0\[X01VX
M@$C$?X*K1!EX52)H1<^'3GO;1NZTN20X@78%1!;@`D?#@K?&I40(3HSX%8'G
M@QHVG#AB3,H7NVJA48"TA6[Q@SV2?``SNPO4NXQHO+9!EFEH7`8RDT>8*/45
M68D&O&GQ?+TZ0+![=F81@]UJ5]L[%I94O8!XG1:4:&JD5]A8OKT&:?]&%Q?D
MO4^8O8VQ6)^4?I^$7-0;B^\E8G*8:#5(OC*7:(^YKFIDO[85;QT:&+,9O8A"
MBNF;0[BK%LZ)%_3+%?*[<`7:%M0F<5H60O&69@@4E!Y<>8`AOYF8&53H5P@$
M7L%6D=A943GD;F*6_V4@-*WI:U#K*Q@6X#F4DF`US$2H6&3<^%(*@``TQT`,
M`$G8=`$%M*[#9D:$]U*/%&Q\F$P8Q8U?I``3X)0\AV"AF,`&H&1[5VZ-1;`(
MT)`8_'EBA$L1&TI%ND,Z[%-A@<,GZE,$"T8(,`%IMF%5[$06BUNINF=[G&:L
M!I:XQ6%+/)*A>,&&X<'65K'6]D4_%VLFUDTT/,'N!G#?J&%O&1@:D`&60F4X
MU$Q,);(,!*X35(GB94J!>UU,]'4&!79>>7DC[(VGV9BV]9K4%G$.5G$2=\1K
MW'ABQ`$(%+^D-DB'*;*P6ET]%:/--;Y\6%V4IDVSG*]$E<"[9*LK)<.]F?^,
M)JIBL?@8!/M[GWB@R35DEZ;`AFI7=15I":=DB46UUFL7C;.[CS)2Z3K,5/IG
M_5;!B:A2#$1!M+JDGD1*"39+&#EGLP2IPXRBIL1J2!2?\S:2\P86B>S0G'26
M,E2%>H5E^"18!%=M"&!F+U91H<@!>Z9&H6AFT+Q2&=P8GP16YQR2`W`!#;ED
MCS1(Y&>:F,Q38`7+O\H7&_"GE?);/MVU_>Q`>/7/*)6()05'(CV2&X1P?6=X
M5@3-R05'YJ9G+LFY$/VC%9A2>C;(75&I6EUNX!EHY79M(1U'PF=K<36MPC5E
MAZQR*UEP,/V^C)&^G2C)/U?)SP5PLK2%";:R/JK_U;59%S,S;I`RH5[1;S&)
MJDIJ=P"=2+P8C5'7M3,(54G'J;(ZI3UU>+SH2?77A=^(J6U\:U?+8;4Z@^Q&
MAK\64PHT@SVU3C1T1Q8;:(B9%;PXIFJDVRK=S9R:1]B8JCMG&;<]5;6-E['*
M>2]E6ZK9%;@=7+V5P!6+<6JL%Q)`FYCR160UAT$40=79J-_X3>^(C=4)0F\T
MS<GU1H,UWN6[Q53[0/Y*3`5DO^#&:.G]=L4%D_K]Q/(=WHE459/'OJ7D1`.*
M47.HOOI;W]7FW\BF%<*4B);4G\C&TE#UF!"4WSS9APV9A[WWAY/!:`V6OV9H
MON#]1D;9WD.7H#%<4XF&_UR,)G'4.]AX,3X.O#*.C!J(K21>DX,ET^.GD7U)
M8@'MQ;N+DC9"_BB15<]F4=W@)QO*&Q:7""0BT^3Y#!=K#4Y$KAFLQQ:E)GUD
M$>(T5^.<U]Y<<0%S^$;L:K_/>M#8*$SL"K3?^$EZRQX6$#>>\N5>#A8Q31HI
M+.:++18HVE/RAN@XE&>2;89+^:T&+<3<BQ[2\BF-_)*IE6@"9.!9A.?_QXT%
MWISA.LWJBYN+)$N1IMLPOI$4%*YU[N9LU-YU>'APF-_E6M"#5885KIT=5V=[
M]$^555!PI+ZON6JKY>MWQUCZ+$"GGG``AEQ!?-$J9%O!ET/%M<F"-,?W5$*U
MA_\>:A,J^"1`TXJ,GPI=7R2P"4U#:8F<*AUH#CM?.*1URC1?Y)5R$_12I6U[
MX$J?\WY3353NBF:I0;1(3YQ(O=V;E/>5E@5V2[OF.#W4J79V)'I\!#`!<FJ2
M'(K$P'3+_T5D:_52J(D>&PKN-(IH/_5J0UMH7S:(O1AIJ^W0*&^FQ/UD_EQ"
MC)YI`3IE=ZR"K]9)LA1!@]Y)>73SM%>O"2_0*'I/%R1B-0VH%9>4H71/-FC,
M)V1S5/ME+*JS5;X=32<J3WUDPN9`16=<@BA16M9,((KP9+UG+!9&3`UH1%^L
ML-=XGFE&%GW)G41+==AK<HGPJ@6I?&:F*-EDL@Q39/W_9TC+9,?&N7R7'@Y@
MU*""4HM5385]N`2GD-XK7*L\BLS^\G(9]5K&=D\$I]CE8*KI9#-$]!+Y?7*Y
MS[:55A7$R]^7AS;HE<=]`6PG35JV=\;NT'.55AU7?SK,[,#D3PG\3/+%0"@$
M6B>)@M&8=%>$J[`G1?^%7%MO'8^?*_#T07PH322NAI2L2;253]O_7P(VX8TJ
MJL*K2IZM05!5D38&A!JUCL_T7O`$JB>D4/_G4GL%"``&?'P&``*$?`$!@HD'
MB8D#!``!?`D)`Y6:?`*(E825`Y<*`)"BE(F3B(0$":N?"0`*B8RN?),`N8JO
MLJRR`X2&F(2Y@X4(D,G*R\S-_\[/T-'2T]3/#A75V=K;W-W>W^#AXN/DY>;E
M`J72C.?JX@/NY(?G]*D$]?CY^`X6^O[_``,*'$BPH#9&``@`DV;@GCF'X0(<
M6"@.UR>#&#-JS'9MH\>/($.*'$FRI,F3*#TZ>)"RI<N7,*L9,#:-)J$!JVY2
MI#:S9H"<D"#^$YI,P,Z2!6*>,[!HT2H!/YE!S<GT4]-%B6@.`*9UYR"<B1!E
MPAHL`$6H%P/<T!`6Z->K@ZB:O=E5J=V[>"->E)844D-.B'I.L[K762X`PY+%
M\[<XZ*#"T"#G0Y8WW"0$!U`1*`"@`-%;G`LD()19-)]<"'1QFO"J$H>%9`DA
M"T#YM/^BS*4&<.YL+)=I/FN<0&+@3@&R=`!2W\N-N\#CUZ`D5YY.G;K3K\:,
MWEQE8("QGC@%7-H*S.A<4`:T$Q)PP.PBP7R\*SM@,SJQ]5%Q,N5TOA#-_5DM
ME)U8O>U""R)&&=`>+<ID\M8!5&6%'VPW156(@)!`A=\JE#$%S%8]0451?P'4
M5\@JF82U7R9`>83*+:,1,TLJ,=XRBSHOQM->C%@Q0%EL?,S&P(REQ%;`0KH!
M@R,?#H#0%R>9)8(``32Y4\J1-QT9``-]`5G=EV#:)=$!!S#`QP2$/,E'7V@B
MH\`!SC$R)EI\,)"9F7S`6<`%::4&E9[W2%3`(Y#4F(AOR\7_=R=47')&')X)
M%&":`<15.8L`E!6P")R/=)9<)9*.1@D!J7'RZ$Z.=O+IH0AFVHL`%R"B0`!]
M31F?.Y$*,L"=LO&A0&BW%<```<0E-4!J#`P2J9H#$#>:`1,`,`$PC0)`7&T?
MY9B,FHLEI0Y]]TE9)S!8`7#`+$#.%@!T15X43P*)G@:!`[DL1(DZC+!WZ+[O
M$L`(`YY(%^;`!(\40(P$L(>(FH_L&F2=QK"#%5:$SBJ`0PONJXA#:*J3,"T"
MEQ*/G(02.BJ.!Q<FT2U4GIDG*^D8@PP#]E:RY,;+4#9RIRVC^0B5HR7UR,6E
MS'I38^Q@6Z1#%]R'I<,('`4`183J__9RG@&'I"TD\2Q62F91AFOCFH':_'*Z
MBBPB\FT)V4:+R)U)P=(A]Z3#3I[`L";VVF_G:Z:7!0<N^$9DO0>OH8<H,`AE
M0RK2;MIN7T7,7OA^@LP%""`PP44&S`@);0B8^:WF]X9[KU5?J[GFN!.5@KGF
M=S\L@-ZHJ.-CYN]FKG,R;8H"SYJ_7WF:[\+;YPCI#Q^+0--D[6YE?!/8U#6_
MX0*>T8N&NDU(]GSWHCV>M$%>]*Q[J0O\X]M#HH"H?+Q`Q7T=SVH[,3?;9NCZ
M["A`_N#\]V]0``Y1W)H`YI>PU>82$M.$V=+6N311SGC(:`QIDD&I^Y0B`8\I
MG=LH`2]6./_$`(9*`*V")$!N<<@1AEB@!$'8*^UM#X!U$N#AAO>L5O@J=G_9
M7@8?-BW;-,]IB7A2(]($B2=YJWH"*PCVTA+"BX@G<C?#U&&B5B[9^`L2YFL6
M^E87Q$$`P`(=,!G+)I(_W%AK;UQ,$U.^93W_N?&-Y=C2(C)%*$@8\!9DDUC9
M(E<)@`5@<UQ38*],HS("(@A-;[(-`69!G+NA;%>=>$0E%""4V;$"3P<8C<V2
M$@M%U,ENIT'$9@RT'DY2IH[K0=,`U\.`22)@%9F$7J!(@Z!%UJD4R&#-'R'W
M,-M4T#3W(&`E#)`41'02`5Y$(AY=](EFS<(X.W&FKRZ@)%.MPG;_%\'?`F=7
M/EXJ@`.\+(3>?@.`#)PFF74*E.N*B$Y?CE.3ZC``G^!(SWJ.0P`-^=C8DE$B
M5O@*%1JR1,(\L1X$)413IJ!$)_PIB;85)18**80@-F$)#/[$*J`0RW@D^ID8
M22(5;?N)]V+A";',8Q(1300I+D8(2B8C1BQEQ8?<T3)+$#0^)*WH?NX!#Z,M
M=)F?2*$O(@8*AY*"J)X$S-4(!Q24,L.IOK`%*-*GOH5FLZE*3=]/;Q*+3U3`
M!1'@3U(54!ZS5/(Q#.)$5_&3"*G:\ZUP_88$QX'*N-JU$)^YZS8DL(&PZO6O
M@+U>7L%QF!8%]K"(;48$,H"-Q#KVL>#8_\I)#+L1RD+VLMZ(``4:B]G.>M89
M;:1&80;K#%(,43$%,:V)7/B-K9+D=X)KZ$540:,6'>:#EQ`+5$TQB4],(F*%
MQ>G4FD$!"'SVN,C]7!*E<<U@4&-7S5S&7,,Q5]U\@K+3/<AR#>.-[!;J7!KS
M+DSFT;9&8(D^2<)BAJ:FKX6Z-"R&#%)W;+&8B<"#LOQ(KGZ/&P!*NN*CBD"2
M;U>1L(-Y,CFE"!0($T,*HZ4",I,@$B?JI0AA-)070?4>2-'E)]<2X#,1O@]R
M$&3AWQ;UNAJ&'`#G,2-\3O@31Z7-(?")F(8"%T$7HV^I&+%:(O8E.?[J\(+)
M95F3J&-]S0H&6?]CU$!Q965&JNL:4-0A@!NA=I^0T``&]LOESDJD$V92I9KZ
M$J6&2*2:;HN@?3GY3&QE3ZGT+82B3O,(`[S281VTY9%VLM`XQV<GB8F$,1%1
MBJ](LL[(M)I+]2Q9D)T)$1!RCDW388F9\#1RB.Y.4JXH28`YS)>C.4I81E/'
MFYW9:NIY"3$CE0DKQ28>%TB(O1(`WE389',.[0NE#U.@6RP&`Q3HLK`A"\.T
MH0*5?V,'E<ARLPA^@F\NG&O*W):)CCW[/DV;8"N7,>VY2EN$U%X9L[&=B*8!
M4KD;/-C7>AE*""ES@[V4'+QG5V1D6D+"?!1;3.3)`$S$CA+NRI`B^N+_HUIS
M`EM\N,!H2'$:61"'$[)9F/ZB!8D*;&#8&$]LX<PB*<^Q;#282,JXTWR::S]/
M8^K;D=E$L\NMX7)?#4UYMYEQ6E"HW#8LE^2U;5,;RDQB1"K\B7.2DII<5$(\
M\1JYZPJK=*Z^F1,+R,4!=I=OUKZD+X8@)E>;+`KIWJ(W8K$W)%392WS&5&.6
MAD@$+I[QM@/V;L,H`-EO@@!-)M!TO=*6._`4C+I2QFA\LS;>>V@U??]]@<K0
MNGIO:)MO\7))$YGSY!R-LC5YS$1\:[J:FN[DE]+$WJ;>N5+4\3L\E;"EJ[W@
M0@1(,V6X0VE>\3B6^!"!#OC5[;B/*ZU\L[TW__]F`NC:>2XP5?+[*(CWZMO-
M)#.)T"LA1O#PUDUG@+&;E&]F^26JS^Y[(9'KXQPQ.L>[]+&T&Z"GVU=5PTTG
M.'./-S4%[\=''XXHP1F0[X7O`V\X^M^OR!Z;9#.\40C5YRL#Z!"'$0IPTAFG
M01RZ\!?(@5"QX!E%I1H12!,98%RYEX&`Y5;GH#H:R`VS]X'?P%@B6()O-4+F
MT!0O8H+;X'$LF`T:X``O.(/^TQ]QM%TTF(/A@`$LH8,^2#"-IE?^-SA@,80T
M6`$4<'L_N(1V`0^Y$'S+]`PMXH2DI0Q5*(6^`5R-\("K8%I'X80IUGGB$`MA
M"`VIE@Q\!Q_=L&PO!_\-]W"%7;98$L"$=&@7$A@?D%-D7),,[B9JS:"'4GAT
MQD(S`E!,LM(P26$(V^(0?HAPW_`;?F@8TL$!,Q):U&`>;?@,T)9[FU6'GJAJ
M+H@5/#4),4*&;U@JB=!#(!4CG%%LF.`0K5`*XM$+TJ>'"49@.9%D\X`U3^9Z
M%'8<N7`/#<$;P;@]-2:`\=!D?E$,_N%/($0)F(%=L0(YDU``"T.&$RA*'X8P
M`+1&O42*-&=U&9=?GUB.*/$95?1AMU`)V49`BR$`K<<);U@*"P!I$Y1@[N!N
MG6*&[&,\+,-N*_@9!'8/LW$?*P,KA#8VOV)U`JE*R6:0)B,=AR!R1P<E?%#_
MC^MH&\37-B5C-TF#,U?D>N(X;!A@3N9XDB6!-"NG@N?7&+NR'$V!#*=4"%:F
M(XL@0@I29-""9KQ400`9<(E':VU("N;32\6S.I-P95S3A?PG?Q(92EA!-+ET
M*"FS,AYC-@#W<@C`DB(I7LD%`2:)DF(9$EY219KB%"T9C@#73X>W)#:Y"!^"
M4,M`0):P>E\1CY&W)C11EEKR<HV#/LZC,;-C?GL8'>/&;$\Y`)MC%@0DDU0I
M0E5T*^6B-@^SE6C9E;A7>THXEIRI$>Y&><477HAW$T3D8"WDA!;D.?$8"2XI
M::5$1+M"$T_T:8XP9<!P3"Y3)[SD/(.@("JU%^!"_PN8Y!T\590K>&4)T$K]
M=0P722YD-3V$0'$E]Y%RJ9:XUQ&=F9T:`0^9LT>Y40"ADY#%!RT0`9[!*7?;
MUG,&R`J:8RJ8<0N8@1-JD@"O\R-VHBP3H#LM%9_)P)VV<BR9]')_I(`_Y#8)
MD!K45W?*<*"V4@@,D"S$D!H4N1Y34HA*N2!3%SZIH:"^TIW:8RZ3\Y%K$IZZ
MN8?)@0`>J%\/T`_:V:*794MVI3_5X(C?4'@?")8NFJ./981N!(@Y4PY!F($2
M$&PZ6J1&:A(\>I*:Q5E'VJ1?@H/Z$%`%X5I.6@X.L&55FJ7D@!Q'1F'QEV$A
M-8#4X)5!887.%87,Y3C18/\(+Z)^OH`8V=!&+1.D9JA?X%86/<&FE;`<YJ(:
M;X,8!)857M09'E<C`?`!;>5KY=49V7,*A3:,"0A`8JJEVMDL.3&;1;(SHO9>
MTT"FT4"CT9"IH:J4I^&"HK5<EBB2R:4O:3(6T89RAQ)/>.(.D:DFME0!/5!'
M^Z@Q`G0HA)DC4$JIGVB:H40,4!$/*>HK1(%@2A(I7),<0N,(TLHVA.`C5H8`
M''!$B(&@QX"BY7,!FC(H"#`CQ#)<TPJK<[4@QT(,"6,MZ$)K6WEP`#,J$Q`]
MHM"@;94YWK$\<)A853.AJ'1RA0D*5F8?]2-1?"`&*V`+!@:=Q.J:C_=LP2JL
M=2C_"T_XDUM"88C!C*<A*8K1FYU2&%$S<`L)H[YR(Y2VG.&R.ZW7"H5WG#Z4
M*2J6C!F3)W`)(,JPD"L5)+NB))E`<,=2,Y`S#`G@<1\B1G:JC9!#*:+7&%ZC
M/5BA*9UD1P\@!\[Q".X&<(-0&@@'#\.`F,0`F12KG0Y%,[6Q@I3V2A.4"/CW
MH5;W>BXS=[OF-L"WLA9T8I6#6HXTG2@X'#(S?&VD+\Y!D#9;E82Q)4HB2&<9
M._*8'/IV7"PU#[$!H0(+JXWG:(N"AB2`4&8"3@U77M:TH.$7FGWJJ6/[@XFA
M-M<T96[[-D441%;W),@@0G4%(?UX&R1WN8YS-UXBJHW7_Q2K-:L#JPS6^`A;
M.0OM`9<JBQ6Z00J*VQ27:HU&R653D[=LV[I<0Q&`!YKP"`D1H`3.:@DK\ZJ/
MBWI@&YJGVYE-MF>Y$0]=EQ@F5"B:L*M8!`P,)T_U$8#QT#$ME'G%4YT&N20J
MVY_Q\6-<\W0#!VFU,B)LHE)&)SZBMISA,Y*=%8"0$Y?8VU9=HDIY*;QXDP@9
M``6H2!N]5CU&2PRN2KH3F[X_B`LSXH43=HR..@C5:*JQ,`P@=L-B&`QX4C><
M0</&B$<?)(SU5QC%`(O;TXK/:JZXX5NY\&9X8J&<4'W#6#LU-J>>L2O#]ZPH
MZ%#)Y9/->!C``!%YA1!2!8;&X/\09*$!<_-Y(#5\AY$]+MR,7\<*N^&C+)S'
MU)"LU!6)>OP22/C'@MP27_80Q3C(=Y$!FXG(C-S(G>D`&.C(CJR&V?`=DJQ?
MGX&CE^S(7C+$S^";2[7)GK48BR7*G/P3$=,>H@`A6^%BZ\&NCL,=%?(4L&$,
M\I%5%18@85$8(F++<Z$>*RS*W7&FF8`A\2$88'$AG],:X3(5#X`!Z6$6+"*H
M60$9`57,ZX'-_63*=-A]QG$;9D%K?_)AX%.MP+"5A&)OK4!PHR$>MG"@1+0]
M,MJ\FN),%O)/M#(;X6IIIL+-TZ".=D;#22E?,-(74UL;UU<)(F1#N>$O+9`%
M"><ODD+_*V9Q+CKK+[EX+C_Q*[2RM2+$)=/FSS]8;*96)#&RBVK5STUSK&OR
M9<AQ0S#D+Z`21`OQ,>S1JX5)?&07K9PJTL_P,^SP",S##IIBQ;=BN7=+"!$P
M`^M4K(R@CC:%0<G`J;41K3A#P3XM@IQW=^$DO1#('DG&2:U`:01'0T]T$[%T
M&)[B=;URMFM":5D-#=YR7V8"(31C)HE('P6@.#45;5)G&[H!!%%"=0CA:*R&
MKM3S>'&=@UMMTJQ`$R43#,E9JL\22Y293C:#TRUU,!0AU5>VKMGV,I=@NOX\
M0[(@C)=`V=$9(ZBXME>]-@"0!PX@HOB"&`[AV;`E4*DHK=9+_]J++6PC5\\*
MPA0'0,Z@8$,L5*U'IS>G$6H-NDMT-E6S8HTW/2OV3%#.Z[@4+6GPB"Z_+16`
MI`!\MVWT9L>R(8NB=);P>##[.`1A(!%M6-N[HC\46;2>--\;O<]5Y]O?O5^-
MAB*_7!5;A4_E01'_$18"8N!T\<HB4B'_\<L;0AG8?*9X[-,'?J9RMAT:WF@.
M$A\5B0@4L`3=$1BO'!_<X<M/4<T?<AXHLA`5WM\FF*H&<4W!#./ZP(,V;LI4
M^A$CEN,AD80^'N1"#E</$,E#?N1(+C@8((-)WN1.#B8;,(=//N54KA1%7N58
MGN4G(0%AJ>5>_N4:T0%2#N9D7N8`8?\!+&KF:K[FYJ!9;/[F<`X.Q17G=%[G
MTZ#)=I[G>IX,7;[G?E[G$,`6?^X/$F`!3-Y92;H-AK55B>X/+RYPW%#C12%J
M=+H,@%@?C1Y7$M`!@YX/\T(!#\"DA\6EN@"J_'3(TK`8S6LYZZ`/_%TDVO!S
MW6!=RC`QW.4,"#<;C^X21^<YDZ0^K:8:$<:E(X"H(1D,=7,8\G@@:MT8.:2H
M,X*SOG+?L1`7P46*?IS5A>X`5_I9/3>JV;`84=E"=8K5<L5M222+JGKKVF"]
M_%21S>!=N<X)V7X713)/MI&7JZ,C8I$((-"#*,HU$PH*'""QY4L,>?DC$-*]
MR-YX'Z*F^P+_U]]=`=RN`:+>63TG)S<!U;":%A7V(NDPT#:7O"V4+\:X$R(5
MK[%P%(8P"Z(P#)VP\B86SL-`9>`V)VIEQ$FU\C(&%$BG)*V]"_`"&R\"0!>3
M&CC_\RKF"[;U\D3/ZKNKZU!!6QPU(ROO$IDJO##Z%_NK#!\@Y=PJ7.$$0+,J
M>@DEH^QF0WF9M6D$\7CWVX;>[?M5&P5?K-8(QN1K&W]))1-A2>BF#LXFVOT>
M7C:%AX?"4V#M,(B+*8/@+4>B=;(X-1T4E9*/./;3[^\X$:#L-?Z6%(LV"Q?0
M:U&I^>$G,HWO<=.G://X,(JX+M.I-W4V-?)4^/4.$NT";LR!PBYT_V:)8`&(
M&G$(D[)IT6UF;VM7XV8G&Q]:;ZZ,6V@(?,D2$(-RWV7?GC8C%Z&V\CRUW:;O
M3G(_TE_F2O@,QX>'SPI-:4$FISWF4[EK0PKVHA@$-IK%:ANAW30G5R[Q7T6Z
M.K#K!@A\?`=\"(6"?!=\``$!`(*/CY!\"I*(EYB9FIN<G9Z+?(U\#*"C`Z4`
M"*J"`A<&@AL@B(8(IP6@`1.KH@P#C).9I*,"AXB2CPJOI0JUH1>JKPP(BI_5
MUM?8V=K;W-W>FQ4/'1#?Y>;GZ,7%C0$'`.^7EJ6@DHZ_\X*BDH87[P#$`0HH
M`U9/8#QC`?*Q(S@OTB)_!$(E]`<@HK%2`?]?R9NG#Y.E1X8$&?JHD.-"A\!2
MH@1%:]:B1L<:YC.8KF:F1Z(JU2,0P.)&0;<L0+!DJ&>`!+@2EM2I]">!?JD(
MA>1CX!:]BX)\A9*'TZ+-KV##BK4IP8$#"Q'&JEW+;6K(1@.0WKQDU0!*1PKD
M3BVY3]U!K%PO33A%R6J!`:)0/9R$;*!$2HXO!MZH0`'04QOO/3IP:@`ADH\K
M7^Y(B(\`JRKY'.;C^1`!90M>.IJ43)"PE&R_X51Z`'4JPC\75=@P+V2!9KL1
M)2Y0H&FF`P,YJ&.@5`$!WP=G8RV=N[OW[^<P=*"0%KQY\&[Y%JCX5Y#.!'<!
M^'IWFZ_(4.Z0`:#_">P`@4K\F;8>4@2\$U%B,55D("B>K9>0``<$,`!S]S!&
MR7ZO*!`A7?OYY!%\!40TX7Z8&?//<AT^]DA5)+;WR(@&&3(B`!/(%M.$ZY$"
M8&3G69,<:])!(M=#[YQFH`/D$"5(`E;AE)\`B0W`@7.7M(;(?PA4Q)^4`SVR
MGD$!9/F+)`=8UN.9:)I7@5EHI>GFFW"F$UR/<\;Y"6IVJE56GGSVZ6=8#VS0
MYI^$%@IGG>8A^J<`"ASEE:'I."`!I)162FE9%&!0GJ6<=@H6,7""VJD!$GI:
M#@0.F*KJJM]9T($&D[(J*R90>J)46'$19DT`HG8RP&M@W8J)L)T0FZ>Q_[,6
MVRLF&\1Z#K+)1@MI!!I0`*NTJUJ4D':9"$",HHC`]\\B^0G"(@!FAJNKK9!`
MBTD"Q#R:B;S7;$3EE9N`6TVM8.G+*47KMKN)!1APDT"-<V%"+S:!*;<>`#QB
M*_$G$&3@0`43SXK3G!U]8D"Z+UW"6;[U"OR)OGLQ[!%NG?AKJ\O:P`RI=2U#
M2T$W`!RP+#[F-&Q:+QD'70T$%"`I=*%6YBS(9P*DPA,#[PR)7X0*HFN:/[J>
M%L^M`43,!P%9LK8>=*HU=V6633]L6=,MYH/V/O^D",`%CP(8"8C$:`@`?/&$
MG5^39?/Z=Y7YU:@95>\0$B8C!R"04($&.<ABK_^01V07/*K!9^1^.WLJM7O[
M6<9(7#D34\`'(!P`G\Y?^R-@A>82T+0@!+@#GVBM11*BV!@&SJ*P/G]^]/!\
M4$O!H,3_*1\?"92&$D["<,>719\M";("#("Z=\<DJP8J*?41)%?U7X,<TRA`
M79*R9*\(8(@PW`)##4^@"$/37L#R$=OA"`4`_XMRN04#-!*PN."F*X@0QNQD
M5:>1`&\4'5B$7.3CO$J`#!&L$T8]O*0BU2#";.C3X`7Q`9KD#<\"'M"`"0U5
M&0$00';_48QV[#61B^3'';0JP+<2((H$!.PO)/G),9R3'\PQI!2U`U7*V#82
MEY3PB!WI"V[2<[CY.$[_.[-IQSL4(0G//$J+J6#-.YJ(%9Z9ZB>7XV)"=/*(
M#Q1,,XFAAP\O(0"$&80DY'M$$F72Q;VMK(PR6Z&E)$`!"I!#D(8J@`*\!3:&
MS'!8-;10RT)FKA%B!36W$*+)5O+'\]F&&"E#P+>*4PJM`-$^4O2@2P1A..?H
MT$;Y^!%N:%:2!(YR>:EA8##NPXCK3.(#FPR`F4P9D+ZI(FQ]7(0I+4$*3.)#
M0^V9QQP1&:T(.&`#AZ1FH?8#%.>E[Y&7$*9,>&B:K)V"?K!39%;^F)<+F7%Y
MATO`VM9U/DD0@VP(2^``#$#&0U"'=)@`7`<E4:!0U,<NH9!.0;&GF@$,X(H%
M_UG:*49I&JI(C76@=*@A(.104YK14XX@!F$(80`U)H!``+#`"#8Y"`$,('LN
MU5H"+W&!TTB(;W;QT#T+LY52N-0`]?&99Y3R0VU>JFC.,BJA"""7!"C#(@E`
M@`$L0J_>>,4G6=*59Q!@)K!!PVU<51@B^$G53#STA4^E758O4=:O+4V4;J,C
M5R/B%:LD45YAFJJY7D'7L<X5$_QDAGND*J(LO4:OD+B%^^"JK;#1L7&6.:M%
M($18?,VJ:0@869@4<`M@-4\`8.@`5=/JBY&Y#Y>F>=1_?J4SBS3#K8T#E?O:
MNKB`JB(BQZ2J*CJGU#]%@`(9V%1OATM<=*RON.!Y0/\VD<M<L)3E8LV-KG2M
M<=SIJB55ULUN-P@I*>UZ][O@'8M0PDO>34C@`=`MKYL<,0#>:L(`7@L+E+KF
MC?8BHG-QS`0[X+(PLR[D'`-Q:+=XQ1;[+NQ1\(54?OF5CU=(@#@"\!JI.M??
M;TQ8O89:TP.2BN$S$?0:^5T+1+P1IC)FY6$!,A%4%FBK<IV#`X0),6?W$\AM
MZ#4X\@AQGT`DEW,!93\)4&Z!C)@5?PCOH[J)6E&+U>'<G->037:3`38$*E+=
M5RFD.D4<O64N<XG*RJQ!#"800YA7$#B:IKF5`;P%$&*`63D,,--&@"8@3DP%
M)Z+:)R2'19B?MM?*4"IS9!C_`#]AL5@TE\ARF)41X0$#)"MN+I5][7EF^2@E
M,8TFE-F$49L/IHJ@CDGQ8WQZ9F])"#%?_C*QR$:K6X%*P&QN1WRC;(X(H'>Y
MM.X1V!P2D'$Q]1^7DR5GE]8Z@]@-/_*`$2CQ%LUSG6("S=D;`!@`(I`)<S#X
M@-`EX+6)J12`V?:06AQ'1#8#^0_(#RM,9APW:DCT"D_V<-+&V#/6Q`WB%)4)
M=D]?9.]1[.<PHK!'A=\$;*L8$!$@P,#'LB(UX:U.=&)4VB!H/#9(+&AR(LN$
MCS&2D"PY`@$#SW4W,'`\D1-\$JRNQ%SRNU%X>>@B/0EH9V@A4JZ\(R&E*28U
MQC4(_]RP@Y/QT_%]EE;S4K`N'^Z(R&IZ/JYV$/LEHMY,N_WR401J^Z/LB`A7
M8((/7K"")Y'D.9\0RBU+)$`%[;:$T"59DI`TO2)R%H!3]_S86'*\YRPS^3<L
MD`$+Z/WDI0AKA28TC:F[G%0WI,IQ%!%BDMPYFH[/98YQKA5[(!01C>HV(`LQ
M1J[=*HAV1P6OV'V0_S2";5?_8)46_YC%A1$1<4'`!!*223%.@^N2B.KL&R(*
M,9$^3W4$"&@$H`<\I'VL(]00`DB1>]F'/99J[[@\$*L<)=4CDDC^.S8DD($'
M:!_PELA+`KR"G*G+W1`+QV")0HP:4CS>Q%;1FML!$\Z$O/]T(WO!$R;>?Q7]
MWLJ9&T002C%^?^$?PD)]<B<8ZY<05:$)8$)[+M10L+099H9S#,<]?>(9RO!2
ME60:!S`%:7%PZ<<RE^<0<]<Q&\1M7Z,,!B`U*=.`'K@,V%=CW\<'9;%A->@F
M,?$*)_52G3$8`\!XQ`)MMC%1IA``0C@L=Z,./A,RU%$,H#%Y2Q(D<"82]I0)
M_$>!5%%_#L,\\2&`W_(H]7`!Q/*$2+@N%]!>2<@'$T`,O1(A+Y40"0`TG!&$
MN#<("?&$%Z``$T(J..>&?3(RX9*'K,0$!4-T0:@P0',*#3B'H$!.3W@^[)6&
M`D`*`"$U0-49`@,T@U&)V*=_.?C_"1J0`1P6BN=Q:5LQ3)KC"YG'92(C6T6"
M.*+@BN%T#UXA+,12(*"B+<J1#W0D*L+#-M@6"O/2B[Y(.B!#BXAC)DK!+Y?&
M*+!#C.ZQ,P4"-6.&+@_R:O`A+''Q&FXH%[[`$Z8FC>.W9A(Q=UQ&.NZ")A2A
M%+IX-4(0B[\R370$'Q91";4R@$[U:-)8*]W(B/16CQ5!&.]H&N7(C^YDBIZ`
M`7VGD,E"@WR2@*O2:7^'*@Z9/!+0`7YWD:QR&K/&D1?9+"`9--:47B-YDB@I
M*Q6PD2D9+0R),2UYBJB%,Y9$%2$W/*"8#;>@6$OV*8`5-(ZQ+`X@7-?P"IWU
MD17E5H!5_RJLX6KLH"N8)G2*)A&GEQ5,N5_NE5V$I`%$&9/>`9&UR`GQ(S3]
M55W7T!)GQA;N2#M!`W(FMB?;@%N4-$G9%F?TQ5GM\"U/217406"]I'^5X3]:
M!A,1<5+ML"V-\(3D59)=Z97=,64/HF=4H2OFJ%\B]5EC)B$AY915EHX2\FKN
M\FH=E6#*(5M4L2QNYF7WU3Y)F929AFKX$3&U4"H;&!G\`B5*=`@N54Y,&0K*
MR`JNMIM=QAI5UEXQ115PV#[[%&"?J2H%D#W`T`B&]%..X6KP%6-;Z$"LX#6>
M-`CFPW`\\TH)DPF9]T$4A0_AXUT5D"F.>2:0^1`&,"&<Q8?H(O]/C^4H<7%T
M0,%#I`)R3O<K`9$0%P`O>/F<H<!#TO,7[%`FM8.<CO(0UL$5=Y07HH,N\$`2
M+Z1RS;$MK(8)`YJ7W/9"=-$H+L43K]02OZ`Z>5F)UD$-X8*@IX``]&@5..1!
M$^!#*P*'(U$F*E>@Z5DIZ`(XC3($:)<S$;H5_D,,$]`H$5&)AZ"=&8ICN-$+
ME289B5$5@99H.:E,77@A0"4J,0=>6]F8[?F5[O8U;E@1+[<TRG`+\7-P^.%S
MC[!S&(1$R')]1T%T-)%)VK,UJ45LDH!0H`<*TC,G0>)">H4G<%I]3QHR.5<1
MH"(]3FJ35)>B_(9WYS,2'F()"6HI7G+_GA9P!1(D21%8&H1`,RC**]U)?QCD
M#@,D$SK!&?[CJN<T#1$S(71A$9[!`8\BGMXE'J58IN!13Q21,ZZS2K@@A:'W
M(F,#$JGQ-PN#ITU1=C*!%6#$?))Q$6)"4NJ$9(^WDUQX8L;:J&,"?29&K1LQ
M95.5#,!23[SD'$_T+ZS!&7H$`$*@1B@W8I*@0WWA0*[7J8J!K"LA#WGA=/-*
M%U<S+D'H&-QA$$QE+@`;7160`2HDK&ER/O1HG\$`*FXZ?;>8(,('A:JG*)+0
M*&$J$.)9>P?4@5@Q._;$24\W)]1@0$F7:%[Q=N0:28XP37@R9:R`%#_AEHL1
ML'UQ.):PI9"2_WL%=0`2H`&:RG;`,'[]^A*7USWRP!T#>PEYP6)[\1/Z20DW
M>TDW.5P80!P6JX/``"&!J;8+%B$$.);?UC6/5+`X%!)XJ325$*:?PZ`1T@[6
M05)NJW4FQJDF"Z$76AD7RA.6P1.E\807]*&LHP`+$#"*Q"MTZZS:N4$L&E7O
M`J-FY$O^=D3RY#Z4A`S1%K%)FQ4X=``S@`)<Q*#($"&+Y%-Q=A^9J[BA0$^X
M89A6@Y>L0RJ5<$Z,ZRV-PC=TP4-G)H@2%!!F0F?3-;$L>;9H8IK*,1!"=V;V
MU6K'F937F9I6J4JX&:>`Y5*(T36]4FKW14?ARAH:L5?<2YM.Z3^`)?]F)_9>
MM!F?J:F<29F]$@**#+8SV>N*U.N;^KN_M*<J>48,/T`">L8(E=F4C#96$ES`
MBA8^`VR56G4KB!&4:I:6RL$.(A494YF]TW5-9"J]1K6+]#*[8KF.WE!CB,8)
M!(@.`E:UW:'"TM)=)I,.1X;"0Y,!A^C#R(5ZV_";Z.#"W"!.Z8",YD'$.1Q.
M62G$;(%>)RS%<1+%*X3%FJ#%\E5@ZR)@K`(!T6O%/5(6%4O&:#(?5C.>YD":
MVP#&W("4Z4LK>5<-8%D.=PQBN(C$AI(!:'PFMC:4?YPFN\,:FI#'ZZL-:T==
M)=-)VX#(.*.6>\PJZSG(YF%-#U#%EKP6(VC_(O"4L)8#(`*W)._`B.O!A8I4
MRH&ZN'MS3A71#CKS,?LQRJ1C.>*RN/W0.H_"-GJ$-L:`3/`A%_9`.3NR"#I!
M&,%,.T,V4>_@&%/5S"O(ECPQR[VC(*O!-GP5IN'B1P_1*UBC>-NC;N14)$S,
M(KS#Q=^APYN<&Z,8K.O<'0100,1`@(^PFV[:"_QDE.ZD<O*Q+KV'%#WA6=XB
M'R?5@(-I4/LD51X40P.4"SM5#+>P+ESV2IJ4"!-A.A$65#Y43'X4<^S!T!%!
M,_^`J\I1A\P'K\A0"UK!`"$-M"Z52?KWT9;1AE4RS[CE4AL"4QM"TRFJ3*?`
M;3UY)MCUSFI!+>I,_]3#^E[-@Q*54!14PD'I4R#^W''&X+*R$1#R61((,@D;
MZ@C@9!STX@@;4M%XBKR%"APRT;!IW0@;4DO:V7^*@1U]2S7/,;(:M]3:8;+5
M$4FS=Q0]L3Q3AL[>@0%!C-1@,;&%;=C?$6)?.AM+^",)8JW.VWLV1`\CQCRD
M$'!//7$W]]57(CW-TT&.3)5%Y")\E*V3("9BEQAOG;5P#1+^P&*;EZ[9X]72
M:A^)$-L(_3-RG,Z*'18:$$&_W2-?NSQ\\P@(D]F;_0NI5YZ/\:VUX=QUJMD,
M@5J>K7K8;39DK1`>%0^1I;(L\0J">A$YR=K,(R+8RA!PI15X$K3B#;/&+?\?
MQM&_0!%)KX5Y1`7)Z6"1PYT.A)38_>T=#Z4*+S(!4,-K$]`;HW8^C=,,C2,]
ME#T)`4"%!Z`+KZ$+2#$`$P!V#*'AT`!."C`!!H#AX70!=AD*&]XWE]=#S]#>
M4<5NH/'@J9$+"`!O2B$C#^[:D9`*S4#CX"TRF<4R&G[@H4#@<FCDI:0+AB#C
M+Q[4YF$T`6X.$-`![ASE1*W?,3G45MX-9J')6V[)6)Z2$`#@7WX-'0"393[<
M@NW#@ISFV``!&X#F;EXI1GQ?[L7'Y8#G:Z'GG[+FU+0F<WX-&*#E@>XG>.4N
MBQSFW7,-^8/=NY@-RJ`O;$,]L7@AK9P-:Y=@<+S_+]@"`",P`H\S5J\`5Y1Z
MX/2HM=(3;%7F#\H0;QS+5N5S)8Y0`$GG6J)B$<%VI\+"1F[V).BS5P7BZY52
MDH7>*8N<Z"*&#C0X?W?R1Y`PMINPR+7D(YT>7"G1>X]:#.[S0Z4S$SFDA)TA
M#%V["-")$>=S`5A;9YR0%ZC13F&)"!-P?75<*$0CY\7.%L^L3BVX(N\`<501
MIC-&/_:`;P."BPMBH>*9S/35<Y<3&<O\-2)J#)`3%\HP)!8/+`6B=(L0-G1U
MS,BIIO%`-ZJQ(%LQD\Z+#UM*7S[X[TS\UV5RSO`%(7!8()\3[&OF--("`MYW
M[1/!.K,Q%>14CXAU\LP3_S"H)1KC7A'>U%.!=W2/H(*;@++8_>Z04%,+SBD5
M8^]O`@%<S_4/\/5@'_9B/_9@+Q1=7^5_5TP--1N>\=/")#I:84IPF.&'L:_<
MR!B1!3[OC:M871KM'5F?02SK_0^W$,/#)DR,H/8B6S\/@A168;RK%!+0D:?=
M#2&WTK?[!"VX:AU:ERO*9+#R@4O434Y*O$X!&RTK\`*E$GW*)*O.:F+>\^O"
MTZGXYQ<.<4?+*A(K__3`&1FX"KH]1F"'N?K:MM640NSF(0%>CUY@[P!@CP%=
M#P%>[@D5$/T:`/84\/7._P!F+W*)L5]I9]4_P@[(V]?3#CK]]/J$B@MF;=H5
M#?\*X'I?J:H:9L+L61NO]K^SC0"*U`8(?'P(```"`0&"BHL'?`".?(T%B`F(
MB7R(`@P"F(F(?).(CXH"!`"-D(NJJZRMKJ^PL:L'A9RCG9`)!`&/"(NW?`,7
M@@>VJ[ZJP(/+BH^C!:F\@J.^!`20H[RHB@K7`L.IIH\!A(:YAY?*LNOL[8(9
M&.[RJA`0#P\;&QGW$O/^ZQ8>.,BWSP*$"O\2*ES($),"098\/0SVZ,"`!)`^
M\5%`*>(ECHL8)'(V8!J?"8J@%5`PKI)&0=!@IEH4\UQ-8@(:`;@4H!&R4<Z:
MS53V<QHOEP98`:7IJL!%1P%46AH08.*GBQP])0H5@)/_H)S&9C8<FQ#"AU^*
M/CT:<(`E,U`3!25@4.@`1@8E%R7(JV@OMT3(3(Y*X!;34F86'Q'@J^Q`@4(3
MDF(4*DTH6Y!BR6H65*$#PLV")$#0(+`T!@@10*M>5`%"0`>E#:9>3;NVJJC$
M<$4JF2`I``*^94;:RA34I=Q\&#AZ.,#7@:0&,$:=C'(5X6#0U"'@-."1`;NW
M"_@^#JTH-J$Q'ZLROQ/WJI(#8@)KVZKJM023'/'M*9SB)[5QI?503B;99N`B
M%)R5DE>HC&(`7<P$H%Q(BW!`U4U\"("A`0#`-R$!DR6`T2T3Q%09-8)P^(@`
MMP"CP#8&0$-`7.,`,YA(!1Y8_U8'FT4PV@,=;/``!#H6N<@#%&Q@Y)(,!9!`
M(0\9D!0?*D[TH"#7;`1E4@H\E@A+OTTI2)<B\C%C+7(!,!DH7D7UFRKBE)3E
M(M84DM<%7E%HI@$:`O!03*:48J8BUWP'`(>J/#GHGAMY^4LA4]+RII9J\B7(
M=AG&%%\A5(+Y$)@#2(G=8H68DY*?67+*Y&H9S$D1I%@V<PU=UJCR5%^)J&BJ
MKE/R@N:84,;Z54P&9)EE39/JZFHE:%&Z$Y62)C+GH<*NRLX]LRE4P6NP'63M
MM^"&*\M+XNJX#6A^EJONNK%`$`^[\,:[D`,::&M!D`]\)N^^_*I&;K\-]90G
M6>*H`__PP3HZD"W"#.\;P0;ONB,!!@)18%##&&>L\<8<=UP;!1Z'O"0&&RPL
MBP49=#"DR"QK+,#`+1]\7+\7P>P.BY;N*T&](L\LC\\QJU(!!?W(8H\##EB@
M;]!,]_OO)8?`HHD@$S(\]9BN'FCP/UF3Y5="6\=+-*67=)TAT(NH:&P[4:=%
MRTJRA!WWH^6L`W3!8H)+`<BP5("D`Q@4W?3@`/^;C=QFKHAXO#,&$UB1BY<;
M.2R3B\MC9H^G)3=1[50&43IS_Z-.Y9EIR*X&&IC,F@84`"XXX;#SZR:G`!"2
M$P*(/*;>HIM$@M^EG+P8TP'7L.64F<@4X%670`&@O"-/YFG_:`&^;.J4`LQ5
MITHQSS_YID:-E?I8(]T!L`G<\>EURD/>/6:+\WD/8H@X!)@>"20L.L^6G*-,
MP)?UG"@1S`A`B&#0XCF.F!2PX$:H`M(O0Z52ESV(P9@+7(,E*[F=M)PW,VIA
MZ0*/*,`D\G<\4XA'@VE)A.G*AXH)%$(^H%@3E>J"";JHR8"/J9I0(J$\\%')
M?;5;UGMT9XLG28H^CSD%;]8'/0YV`SFMB$`'+,"*"*`L::^+G1;W59D)'0X3
M,<&+(M@2C`L,`"7=N8:?+,*6<6#O(=$#14I2",88K:)#F/`%`Z#3(6BXYS;@
MD1`%?;@(,T)E(XL11,V@@;U%Y"4H_WC$!$::8ZGJH0(:E\P%;[H$Q_[]`CJ^
ML)!2C)(AG?@L+SJ$!!GEZ!=3A4L#1?O.<9"!2L,$8Y*/8\N:D"%&9E7E*>GS
M'"9H,8%$Y.6)H@2.(VKE2)@8@!PR:>1)[B@(0_HPDIDYUS1`>4BW=&<0)0E`
M\02C0KR@Q'ZLD`#@5@$!I&F`2%N,I]-`%XUQ\.0XO>&#+G9CB$989"6[".$`
MR#B_]*4(1Z6JG<%NX8O`5.2;K3C>+2*2HP)]L6!RQ)"O=&)`-3:C@\,LA"^N
M%QQ)04EYO[%/LR"1N1VV*#,S!``X*",IY]2%=+3AFR*OPPP5#4,:/2G$3#5W
MJ0*9=">2^O\I,#YA1WV>HA>?X\,%M/DJW)UH*-2,!N@N4]'D9/4\N@E*4<'$
MT:(6`X&LZ(R^K(@T"ZA.GG!E%R&_6)6H4NVN#E%.,<91`(S4CQJ":H\J4/J+
MG,W$%]K+3F%&Z8CE6:*KA^&%*4Q2B9L(H"BWZ$8D\T.9F55E*<H`:$Y"JPB?
MM.(9<U3'A#)GSY66*P(/R"HOBPI4M.V0/8L@ES!]V#AI($,M>QRL+40AF#DF
MHT"$U*=']9*SFI35AS79CA</2R4"1C$#BE"G!Z@8U^[*CIXF\F,Q!%"=0T`#
MG<2KX91NJ*')$$",SOM*AO0II0X-X&5B+`DGF)4`7^RS<=_Q!F/_-3'01K`(
M$]JS*$34U,D,63!MC.0H)Z)CNN\<]R2<8-!2KB.`)9:$%JIXXF21$;]1N,4M
MZFB$`8::B@ED6)\JA`BXE*8(Z%`G-RL&(TZHE#;L7*HD@UG+A_6K8SK:,9_J
M^>U(V)(WIS2'N)"(4:@2K&`(8F(8G'"2'!V)UI*(6*P^1&A]-U)69B#`;!8H
MF=\R`$OONGE?HEH4.20S"5!AB5H*$-/Q[H>E2Z"5S^ZY#P(FH@`$%,.`"$A*
MJK:#C$+'I82LF!-;+#*F06=M;=5UA$6R1.E%%%I0UR#'*"ZKCBRQ9=`P*1N6
M"%&2Z$"D:XZ6":+H5.,S5RLM@\:0J0^`_VI'%-``+3623GT]45^0HTMR.2\"
M$NUI0^>E.<7BAK,SM&RO_"Y%RTYD)`X@SBV+JGC/4R0A@!/M106X:YC>B*7S
MF*4Y.Y*`F%+W1+(49S46>DK]!;5Q][P("&0``BK+XIL'WK!_Q4L!,@P71#'F
M02,Q<U42P"[!Y853#/%!`VF@``;>.O&.?Y>+V5X7`0WK<7F]L^3LJIP!(K,(
M!W@@MBB/N<QG3G/-.*#F&Y/`WCIP<YS[O."VG47\##0Y7J@P@LTP55<BK<`+
M*\+8KRB$V7YHL['DK^KS"+JU>OZHKM]954E_UCJ4,8Y8-+WD$/!`ZARPM)^[
M/5[1-KA2M*Z0#?^E2A:Z^(]+(,+MNFYY%9-XN&N7H?5BENFK_N(V9Q5"]R7M
M+%%5H32W7W2IQRZBF$L?^W&USJ&J<&+JK@!]QZQ(@=1%(&EO3[UJ2C$9#EE%
M`/ODTYA(P6M$(/QK+/*LH3.\S[.Y\5"\F,B3+)4_(#_X*[5?CJERKXH$OP2=
M7]G+#9M5=AD?2NQ0S]#AGUX@#GV^@#/,<K<'P,R_SBGXMPR0+5/1>4(IG27/
M3%=N,0%[T1^HS7-O5K#?(@"$O\Q.F!`=K80EQN`)]9<,?$%`XQ!M%S$G"'=?
MM=-X#=-.%`!/$K`!;:=Z&J@0;%%7#Q(5:N0GD():.U4,/8$]?C0)X5;_2GMQ
M&;\C(8`Q(R(4%?U7"0/#$0B'8&)R$8>&`)6``/>E@@,S?;JQ$56G"^H'6D)!
M"R>X#&LQ>>M!$88A,+(TA9M@/KX!(AA!"$9G)J$0'YR46^-0*(IW'Y5`:6?6
M)4*(%E!"A*LB<:S`;UN&.T,7&`$P`0HP`#BH$VV!8EY87&TH0]_A%55X"KZ!
M<`\!(@J`%P+#,NKT;XH@1=RU@92H$/5C7')D*M"`$H('5!/A"WAT*Z24`%X!
M''[7(.$D@H9E7D4EAL*Q$_F5<!*2%$$E5G?4-0<4'":!"M\$BHW%"B!D2"8V
M(@4">^EB`)\(3L4E%X^46PA0`!-2$^*!"@2"_XKK)QAYL7\',C2M('B38GO:
M!$*&\$=4@1+RYPR]=QZ1E#DL<G?Z8283(5;*A%/R8@$4\``+$P$9D(&5V(_M
M8"-"\5([$6\+IAMZM&RV]E$S05&I<%&=)A<'U(I$U9#D@)!FTP@O<8EQ2'8K
M98M0!56L`(H/P0`6F0HDF6W/<H<(^18>B9`W(0W"^%$,U9`%&9#<9RT6,(F>
MEF"%M@KD8H<W(E.'A`W!!8@W.5CL8U$3L&S0<`$(J8L<`P$;,&R"($4"YX]8
M*0N[D!)YH1.18D#:5%M%Y4J_("V7T$/T]$52"!'I(9$U"12-Z`JMI4@/&6(`
M:5P'-B$'YHMB%X69>/]A-J)"KN)0?&8F52<-T78\;'%9!1E9`#F36\<*4E9C
M%F>8BP"4PF&.H-,A\09)1^EIQ!@-KL*1&X,R.AF)%,!Q6;F:KB`2`U),#,`^
M*[$[N*,*#_),E^`+B^AY94DU8!)6R-4>\I<A(I$`+30SWZ&+[>&:`Q-X?N02
MGR<2?K<1/0%2?3$C(.88$O(0OI@<T]F*RO$BXA06XOE7E\``NW`-A+F;78&'
MNC4*RJ$)3<@2@D23UPA6;\$D7'>9EM!A'#`5G3!9ESF1Q3D,8A<4EP5D^/DX
MNR`A^Z4`!^:;G]!76C8<&0-P/+,*^GB5K-FA]7$<`=",!L`7E2D`(YH74T+_
M%?'3837F%0,E7_,5#!V6>6,48\'@,R8:HRRJHK:2>521"2G$%X>0,S"3HR]V
M'$F1)_\R)2QZ"%Z1)U218?MQ"6+BH@'0*Z=$B&DAI,?QI(HT,"^6(M;R>#[9
MGS^*"/I%HS4V1E8:*AF2%V'JIB\F/;?A62^36UT:HE\A@>IBFJX0`6/CH8+J
M#\JP<(-ZJ+)P&HC:$!C0`1%311V@FHLZJ6FQ"#A#J9BZ"E29J>S@;ZGS"H#*
MH9PZJJ0ZJCI7JNL@E6X%"Q$GJ:BJ@7J8%F*B?DZ'";7A*[0:#*9`BJR@IGV!
M30O!I_^@C;0AK*S0';E*CZI!,=WX*ZI!EA#Z%TQ'_XC.JD\A=JWR<GJ!"JH4
MP(^OVH_;<`&`DG"UBG6(]X\0T3LU=F@D-Y1^N1"C]JQN:1OQ^@_"A`O*"AH.
M`$_4%!_F6I/RX$+\F1)4A62>8$"*5`#:$R,UP;#Q`J@.(*J+H'.N^JT:2"W?
M,3Q=\23XAD>_80YETX7:9X,*M6`\T8ZG10HRU'"GU17B9`X$`$(FBR7U8Z(B
M0G[4<A'4HH"V>DN)M+%=4W_Z52Q?LVJ](+)FHFTU)G]`JSD9IF7%YVNA-K.&
M>7936$JUR7=[);0+]J_ZRG%P>6?+<R@HA+(!>+,151,B6Q5RB%4[%"J!,68I
M8JCEXJ>R($6/:K%9Z6H[@?]'OG"BT,"K)>%BD1"A__F+Q3``"#4-U]`XZ(D)
M9@,,,D2N=X0(A(L*C=:XC\`!M&@1P)84YU42O;,4!$8@E<(?M!<J&)FX5#8*
MAVL.Q=!4P*(ET$,5RO$LJQM.:[D4(K:%TN$J(O80]ZH6>X$;6TE5M;&?@\6V
M'P:Z-AL,ME1A?#A0E;E,D:(1T.!J'5D<\TJ:Y8(!\,`.%^BM>@NN<L01$4H5
MC9"#KU@9U8$(R#@F(X%7&;5#M7J749<[!9(\BJ`<[SL1,,1W\WL.6,(AV:@7
MI?A,R=@L[WNE\<B]V>$5Y3$F"DP*[K$4-8$20%A1@6%LRJ`6S3@A>:8C%9"A
ML^#_/$YA8=H'%@7)JY'@>EW5#-\4%1J!"F)DO[>0COF9&?FZ&1(@$!*["AEP
MFN6;E2IQ*5OI):@0%<I9&4JF$6J1(Q[)6/T!4Y5[5<SP4DJF8`0P"=Q&DQ/E
M.8\3QAK!6JUH"2:UO2\ECN-H3,1SP<NX#(1YE!Y<IUC%QEY+%C26LAM1"2]U
M@-+0(B*[-4'A1XG`:T(UFCMT;9_)P^(B$.3;"FQ7Q((J=9<2P#<A5GU[QEUA
M+`-L2`1EORO%0')A?\*YOQ141A&2EJF0'TO!3(3EEHW#)F5\84HF*+-02V)G
M6G14&0'\4*H\QS_F./>)KTNHGU$W)J18'4]D$M(PRRYV_Z`I:PH8"1ANTRRP
M]T/'4*M67"07:,+KL$Z4[*$&L`!Y85V@T%?A"3\4B2+XJCLC80A](E%"4;0)
MA!]4FA0ZBR9Q9A183$M$M,I<K,Y?,@G-\R:0>2H%$&JYF0S*L\4BU'1MA$!J
MXCS"*RFXT$9=3#5!83TE(<S8H3_%G!.>XQT8G3"O8%*MED29\B::$(+B,91N
M=&$7H!7-G,HIHCOWY4*%,$O<W,,+H7,*(P\:-\Y&O0[YQ`[52XE`K44PIR/`
MZEV-6K&LP*Q'?=61]K+ND*N5V-2P\P!$7!M<'4\1!\[L8`'*B]5J[:1ZF\=O
ME@%![*'X0-55;=9JC:A%&JSQY/_6JS!T#`&F[;H.3-HQ'L"I0Q/6J5HR=\V:
MRX:\C@QZP.:#+1O8"Q'9E&LDRDJLM,8.@9D016%_^_+4DZH!0^T/%+O8K/D(
M[/O3,=JK(U%U7@T+:L'7JY'9MV$PM"T6?3D/19';$I2W@ZIS=LT.%:#8J+V:
M*$(LH(L?DZ$86*+#_Z%"3\(^!62,B5@K=@8BTZ>S&R2+6A%35@(KT<%!2-<7
M^(%PJE(JHBA#?;4[OI(S3S(9@Z8_*(1TC6MG^://A:`HS?`DXD%^6&(I(!)J
M')3%@W(F>-0G.JPN^'>HIU?:_J"/D7S<JF?2`EU,W1$<JCU.="11(3I=PT%0
MWG`]=S'_$HD07%3Q"$D=5<?S'(NY&XI["/[3''\R,)&A2_K48?ME#87B*AA.
M+2DL0U\V"-(A'6NQ7\;``+_K""/J7^.@0TID.C'Q.$_4:L2,6=!C2SC"W^R2
MUAT*J)^:$)-,X:M9-P*-+.K8JP<`8L/A)`/<=W[LS[AQ..4V"):P5&L^T_XQ
M$;D76=:9#;EBG!V"$G6)+&Y^A]SK$\U8&1SRQ5/<=]QV"YD<CS2(;**LAT*)
MY3/Y4O#BY:O).G$="T-,YJD]H,9LE`8SH9=2*F%1#H9PT`AMLK-4*IY%'"\A
M6$;AY]3W.0]R",[`F!U9B_@+DAGA'<H1Q5K,ZIQ.2E`1%1@R_Q_J:>"VV)W=
MK#>#"JBB_0\:`-RDWM671TK^XQ#J.'2?D,26`I^,,28!<CAGE!>+AZ=F$J*4
MMA.K))VZ[E*?@T>*`FQ9$^Z_M%#<A&HS3!(PAI\AU)O-\0OI\='/KF?!;)1%
M)4;W*BX6,-S]6`'[R!`8L*G=[NU]40#:N6W0N(PG'56F4VBG@%R$4&8,0`O+
M)0VCI9[L3$<G[Q@F)D+">^]5E@E*OCLL)O)>Y/+;D_+R8SX9AIZ:@,\&OQ$N
M%)]TP>;3($+TH4_DBM%)U%`03WC/"';JLC(=^@!PJ"U*TO%D#SM+?3`NK!EU
MKB[&G95#P^WSH(]T7?9T;S4QO3'OI?\9@:?9JW(Y6>EOH7ZWD5KWA,\R.<HQ
MQLH.5_JPV5Z)2#/WL2#.A3_YE(\P]9"5GD$6VU[YE:@[S1/3Y7/WTU`7&.'?
MJ.#?"2<.&#'/`_(V\6C1G!\N>VQVZJW;E/)7,L4I,?)"628IQ_,24'^XQ9Q'
M7E$[W/=47)]`=?-",N08BK``B5#<JMW3"<0IY1!J$>F30<!UFS(II:)&R)(_
MXQ;[\N1#\9L+#PQX`T,N[_X,><.1YW_VY&\;GFX=)<:&VXS34Z,1I@,(`0%\
M?`($$X1\#`R$`0")B0`$"80```J$"'P`@WP!!Y"5D:*$A@6)$PP/#INMHXF:
MB8*>G9`@103_A`,3`Z&/D0R8KL.AQ<;'R,G*R\S-SL_0T=+3U-7-`Z<&H`>]
MFP8`W;^0`J"0!0*0`.B$!L("E+KBA8\)W0H&UOGZ^_S]_O^A6#&#EZ[@`7R0
M8AF"E$#`+$*4'C;D5(FBHV+GRH%CQ$<314*G?+T2UY!`)P0?G(CB]BH3I%GW
M0AE(P2-6`&$%(PG@*$X>P)]`@PH=2E1:@@L3T,7:=)&4N5SS&!#D\^UEK4>.
MDA(B`$"KN(=%PXH=2]:9P&4^B3T:8"EAHUJTP&(=)`#1`(U\#CCT>0#3N58*
M*'F\6JPG@`)0%?&YRZ?"E0H,T*T]\,N2I(Z6<GTZ'"J"#$QZAUF2_YP9,*:>
M95.K7LU:*#D#!!@MY80Z%(-NNFZ70K#N;4L#4P,/`]NZN/'CSQXT2RN/I+A8
M!N#>`WMJ%H&0L1YQ;9KH0B_AOW@-3E0N)],$P@)@KT)!DX!'OP:@9QH`'P)!
M^`*@]ZG!QW=*!'TR""?UN8(`6RTAI^""#);U50`$(`0.`!*&`F$QL]R%4"+R
M;843,8`A5$^#)):H6@46+%<8AU,]ETA(A##RD`#5#<*`97VY(HD\"E!F"2/Q
M%3`>51R9]TLY$UB&1`H19/=>0?(L10L?!>"F@0X^`L#(DY4,F!.-M9DHYIAD
M/E/5`!R!`AQ5:E(R0#>AE5(((E3V5@A(;_^Z]]^=?$Q""#<&<&1GF806&@T$
M$#2C#3KVA!0:/H'"\F)(-TX9`&^T<%F(1Z4D"4EY>7%7P`5,>5*DD94(P*4&
M,6BB4*604A*E59[\4L$&H!XP"&(@>=E2`>6E9>BPQ"[H2$.E7)8L5*H2\B%7
M(VYBV2"=R#?B.\J^=TDB[R0&5['@AKM!!,X8`D"TWZBSE;);C3-:LA\5(H`!
M=A(P0"T*2#=.OAQB=>ZWL@1<2'T"1)!!B@$,D!B_7$$%%U=M-<L')1)0$,&'
M`@B3K@*].-)6+0H+'.[())=L\LDH4]-!RD!E(,%/&R3*\LPTUVSSS35O@',^
M%710P4\/8+#ST$3_%VWTT6-)H#/2SEA``5`5G,7TU%17;375B"HJB"`+,8-?
M,XDIHQ\D!N`VZ#)E<VNG!>.VVX\$'9![]=QTUVWWR!;(C/8G"02@J3*Z^HF6
MB@D%"\V:?^*&@0;F[9.!W'='+OGDE+.FW#,?/6+`AIZLV)$N!=Z9,"D`^]W(
M086O$]\@`ZR3-E4)#=+W8@'<P$K9DM&NCP8I5N[[[\`'GX_4S&1^B0+^?F*G
MYJ`HK-\@E`7`P(#8<'Z7?IJA#LM.HCP/"G:4O!/*.9JW,$,+F""@+CC:5V,!
M\<+'+__\PE_N3.:=G/(+`6&K?Y](Y7C28<)6JKSDSBW;>D0Y"$".0G"%_P_\
M@@0!+H".%MP``P-PU3H*4`#.3<-@]`NA"$=X-_@I(W.C\!&O7A$9MEA&-'EA
MB5NZ!*)8<.,1%[!$!QM2CT?`J"`5$,+/6K&4"8#J@Q1X&0F7R,0F[LQ^R^D$
M:H2E(T=`!3ZC.,P1X]3!&K+C@:>"C6:09PP`1*`#*TB$;"*Q0FHX@'%.C*,<
MYPBN"$"Q>%(<A0(*`"$[!0X4>]0/%D6AG;!=+P%7#,52#L`(Y%TH+VZ:``$)
M`0*+&8"/!4C?*-H8C:C1\9.@#&6#LO8,TW6N$8V(5T5J<2%J!:P3)O$%*T.1
MF*XY`I;K8&`Q(B`");XGEP+3930BL#11&O.8R/\,"RFK5C'(`84"0DNF-*=)
MS7P\P)E,.R,V`;*X:GKSF^!,QAV1!H&V"44"&0BG.M?YS6(VPV.%H>(\5/E.
M"Z5#'!#[BCP3@0$/;!,@'5`B.P=*T%"Z$X]DW(JNI.?!1O0M`5-9!@&DE("E
M]*U'F=@:2`C0(]SLTIQ"T4`T"TK2DC;QH(,KX`^/Z!M7=&LQ4/G0`!*ZF*J(
MY',YB8DQ*O`XHDC`A"8-JE!_5X&G8:X2D/I0^V0Q"#+>)3"GB`PB/9<@D&3T
M*B8Y%20BD,2BN&RH8`UKY2`PSA,.L*4TM!!E&)`+9/6I;`SX855],M6X+!`!
M4MFIQ8KB`+V)]:^`M1K_6:%!(&XI]6P/T1]3.P(P$,DC`+P(Q3VP(0#Y?(NK
M0QQ*Q0++V<XB[0$")=RGN*75EFHG?]W"U$U_(]>MS$L8'4K$K?X)$&UZ]K:X
MM5E93R@P!4Q`$)ARR$L>2BGD@8-4ZJ$J*3*XM8Y!Z!=LE5YOSCC2H3B@=[G-
MKG9)!M1D],9.8&D=).XUND30JQ#=:.B@UD%>0?3"(>#]E@,R.Q1/;O>^^#74
M;FD6,['$+;\`#G")]LLR"OAU*$$3L((7;!P".Z.QRX`P4#0`QZ+\E,$8SC!9
MNIL,XX(#1*(-A;:8]8RS)0``(U!.98V!D$DB,;0:CK&,_>%@8PBG<?<[AESW
M_ZG<B0V`IVE5I#_>..,B&UD?->[Q)D[\8:C`ADKJ@F@N"G#BB.JF$NJ#<F5/
M+`SC*DQ]O4E`%7IZ*;V,N$\Y[).SW@4;2S34&%RE[9'G3.=C)#D4$55$QV25
M2CYPH!<)V-"!WCH.7;WBSS[>1+[<-,A$2$`%5:)A.%S2BK&AZ5Z_D!(RNEKG
M3GNZ&"B*!G.RV.?LY(0XBSE`(G'*1T$2*+GRP.QUTHJ\6)CZPQ#4*$Z3`0$.
M?_K7,UYFCE<[R(O$XH>_0#4I,MTKKKT:'_+(@,QB0I%J4QH^]M"UIG?Y7V![
MF\["!MN'8!B2`CPB%H%^!7%Z@0U29`<WR6V)2+N!+/^*4.K:5'&3C$ZBC/E^
M^]]'#G<S/-R+Q.0B7?RC4B*JK&:J<,XR+59'2+#QKNM0Y)(!T``K/.8./EX2
MHHTX1TS9C)#60J+7`$]YL`]<LJ*6):`JCWF&KYFR9I+%`M65N<X!?.="^:PL
M*-VYT+7;<[((-QK^WC#+A\[TVQ8=%AOB<3$P"I(WURH9YXI$!A_`N!MSBP.)
MZ)&Y8Z0E86CQ%^3@S$Y]W?2VA_7I?Y*AU#&"CG@;@SME9$"%P/"$/X4"&TN)
M-+*Z8>I69-#JA.BIVQ??6;A+JS*U.A=C-I&+78SW%-R@>!<SXXCKE5%ZE2`F
M;PQ=#.C`=BKEJ%*[$XX,"&#_E_&P%RO;RWB77@SR0+R0#U;DF@!#;XLQ%CG,
MN+,([0U4(.W'L`EA&N&P14![8]R6<^RG3U#'/T*`F`'`?3+)/Q\.:O)3;,0%
M7$P*4'Q`9I$VAO)?(8!%"@(469_8H!ZP=.K;?Z#6_]-%%IHP&I7$[CD!(XKE
M"4)R-J20`%3P`54U0UVS$&C28ETV">M`'"!T?Q9(4OE7")1!)9!2">&35YZS
M1U>7;!2B&ROV"A5`!#BP@))2==C0"S)4")%V#COQ)NE'"*!U@3J(?]*P,+FP
M$P@0$ASU)V_F+4'H-D_V)$<$%130!#!"?@I7"HPT"`:``%:(`/EAA9VP$],#
M"1B0_TX[&(;AY'BI87(BI1J<)H9J2$UD:!Q?J!H04&%K.(?(U(:M83`P%A8&
M(WUTV(=.9(>LD89DP3M^6(BAY'C&]2CF]@M[U!:0D$.7D2ZD%R,`,P"DD@@L
M,`85\2Z):(#Z$&>&&(ISE($7P1$Q$1(Z16E_MTBQ%`H;2`@2``*0=VIS)PUG
M*(JXV$2.EVX>-W&!=GHS)&+ET`ZH9A+B8`-<0E?XP$<_852Y^(PCY'B6.'Y7
MUR7+!Q*E01X;-"7<PF=\4`))X`J)R&X70(T`86#0F(XA9'T1TA?<45A.80YA
MAXK4`A<?]@@2(`.V9R&Y(`G:,'SY4('J.)#U(PT]@2;LP/\Q\-`.9;05,'(C
M`'``I*<-EJ`^.K"(8,8B,$1C>4B0'BDYCO<7()=NY:!WD\=>5'%])I<ARV,!
MV!4?B_$7(IEGUB"0'WF3("D-NE<+7-$;$HA*$[,MD>>(I8`.1T<(+`"&0/D-
MT;*3_R!M.!F5D0.(8N&,J2$!'B"56EDW5%D4&/!Z9>$`';F59&DT75E?*[,:
M$3![9=F6-'.60O%5JR&6;EF79BDF7\D:/6.7?#DT</D32L.'0X&.?5F8-?.7
MYSB6>FB5AMF8)\.65PF90)$WCEF9)X.8_0"*JZ$TEMF9)(.9_*`!H`D-].>9
MIEDLHQF0DOD3:WF:KJE?#9)TJT'_F:]9FV.2FM6`<JS!5;;9FR:"FRHCF$-!
M8;Y9G`QB`?15''G9&GMEG,YI'`(G42F9"`=GA9-XA5.&5^@P458XG>E4G0AP
MG58X93XI)-B9$.')#E?88@R0GA`@!5G(&^8YGMQI:^E)%>O9$7@%,-PY"&&3
M"]PIA!+T(EKXG'P9G;P5`!>01[/P'L(@)=<G*ZQT`3"0(G,A@V8'"96R;`"#
M%9HA#USQ7GS@`"%P$U`1#E)DCY[PH06A>R*!(,TACOW8HEVX&`9JEPB*=2MJ
M:M2ABCI20)Z``D'0/;40$LU!>I71H=TC#S_4:[3Q+?B3$_YB'CM&2%!":J,0
M+3=ZH#E7_SRT,#L7"A'VT:+PP4HG8`=>`A;PT!Q5R*$K$DO<D3&08&"<\%3I
MD*(%`:<QV@@/9U4Q2B!ZIQ83LZ6&"7<7"G_<6"J0"#V'87L^X@DND!>5MGSJ
M8VT7DJ2EIR6-4*D.(44'4`,%I`!7ECF/BAD<<2GO\B#WM'E0(@B9)*BU2*@W
M::A38ER)^A<0>J>)0`(F`$%DU*."*JF8*A+JPATA0P@O,""U\&0%I$KP47=[
M*G^-\Z=8:J6RRI>TFEC[!A%0D:N1T`D0<`(GL:WRL6JD,W9`.@HT4HU(10@S
MH*SI=45XJJ[5L:>SUCACDV^N`*,%00X>=:UDN9J3F@A@MQD'0/\0D#BCD>`C
M,0`6!4L9J@8+I2$.KTA/KN`=J/H1<04`2`!MSZ6I:161J4H(&%NI@Z`^'-1C
MAQ&1FX@IEJ&P.V$)$@:P!`F<S"`!-ML,($6S/`L4.:L,&Z"88B$!<MBS1DMC
MK.$TQM&<1]NT_""P_A!TJ<&83ENUU$"&7C>4Z649$V@)R`(!76!>]N$ZW><C
M"V%3#0=!7$LVBV@(T'88!N"26)@.4&BU=AL*9!B1ZR""D$!UYO4+D9(!JGJ?
M38$:"KIJ\8<A5^$K`+`R+"NQ=QNYR>"2T3`)=<4<_SIHSN("%*"J>EN-ACM1
MI%!:BT5#OY!BTD*=#R2YK!L*@P4-9L;_$7F69YJF`A+@N;57N*.P-7P6'>Q@
M2@XU"_:F'VK0)9C`%GC7NJS[NLXP>:$Q:D+F:"$P'%XB";I+I,+*C03PBJ?3
M%A1!&1,``Z+`").0O,H;N<0$#;UG"0<+8KBF1KBQ!;XR)9.14(9+A5DV'(^U
MN*W0!.'8"GRD%^9[OG<KM<@`*N0;4?<:=K\`!5'0"W]!)?MH*K,XL%22)IV`
M=W+A)1F`%S12KP2LO`9L#.*S<-!J"5O[+I$7!CP0#V[F-I0'PP>W(47B87"Q
M.=2)#P0``10P(E>$#LP:PI+[LXG`F\8!M4+LM$2,@T([%E2;Q"&,`?77C,<!
M`5T*Q02<HRRF_VPY7`QO,J)@Z5WE95Y;,\9HXT%,RRT<TAOD]:]8?*U$^PRM
MMJ&R5`S-D@%04;<I"7ID(R!F+#9P85^KQ1W>\\9&6W0]P5X2T@DXO!@#\`8E
MH!?:L(4-M:8-"3IJO!CK(%SX@1"\HZ1]YANI:,C7^L3((`XA,PFB6BJ9)(*"
M``/*,\E]PE%R]<$NQHC3XQ5]%@Q^(ST*(!P[@`/291Z$7(^D3+.(?*4&Q`FK
M2R`FP`J0UT`@H@!(`92O4`[M1H)>]T@%\&A&&3;Z)`M]PU+'?*.2*0[B4ZD'
M\:2I%`"]]*,9"RI^PE9R*J58"D^E"P`:0`,O2\Q?T3=N7,X&FLQBJO\6V+,5
M)B$"RT85)D<1&109-R6`XO@O^>P`[^O/I2O0UZH!36P.-Q&Q2S8V==K*I\`"
MG8`ZF707)H$Q?U2CKW`=#*5H/<(^^=*IA/`!#M`C-^%'7./'Y*71`*O%M$1/
M/>D)N005,3"!/Z@N15W':6O-?\,_1]>3$D,"B?(>!#0MVJ(.$@/4A%H!N!G'
MQX'$7@VP(VQ-'1T68EW6YYN5@'G68Y&#;'V^<"UBH>,3=D*(U;#)^D#6<TVH
M#Y"<R*#2-S'!(L,'2DD-%4P-%_;7RBO46D>L$Q@))5`1W`*/F^")BST-A.G8
MK&M'S9!GT=.%FE,`+M"K^4)&.IT`C!`HZG'_R_$X#77MV4;+EFD!(UAD1FE)
M.XB`:Z<@T9X3J\<0:K3=NG<&O:T`'^^S+@!`*N$7VPM=#1Q=W*W+EF[5$EA4
M`#?P(H30V^OP/7!RR<)M#'Y-W<])<\M`#BMMV%@T$[,0.*2RVFHR/;PR+SFQ
M4`'-#.5MWL8)V=P2.M]U)QC`!`5R+P.`$`8.(^6E+IG<7-*`<_PMN<2]#]VU
M8H^T6OVPVQ%^MZ8L#8U-PB<VL_YP1ALNN;/-#,1Y'%)<XI%+`8(]#70YUBP>
MN0\0QC"N(!T^XSW;E1APQ:H!VCINM_O-!SE>%K09Y%4[Y$/>#T6.Y->*WM1`
MN<>1ODY>M2M>#2Z._QP8L.15;IIK/0V)71Q<WN6F&>;0X'H*LL1DWI8["PW3
MC1QCON:669J<K2!H+N='B[-NE.9IC>?/F>/RT)Y'^`!,<(4_Q%8LF!=6R!%L
M887#6FE%<B16Z+A6.(!^3J@<%JV(30-N+!]T`F+>X(H(@5'Q@A6_)0HCXG*:
M?ND#K9B:#@0`.1$5TF-=DPGO01@W`7:M,(0:D"BKSNK.:<6G[-'U40%U`#K5
MXAY&6@R^2RM,5>JT`!X5,076"&W`CNG#_B+XT1^@LT#8`=T,V<<2]`VXOBL(
M4@HR4.V@?NV^V5W1Z@"MZ`H269'6KF3RT-OESM#RH`,*"]WL[IN=C>'B`/_-
MPG`*Z[H;H#X)[.:!(`$/+/%`#]$5L`,!*7!`_O[OMIGB\51MEA`"RN%"'P,7
MW.`CW\)D\*`PV9B2DN=P:E0K(R`,^?1X(H[QEOGAS'#D1TSS/"N9)UX4K:GS
M`/OFS*#AQ<&\0$^HPLX,=S[#_*#'Q^`&*.`,3G_T?&E"E$%EB8"<V%L,5T^3
MV<XMYG:#JD@"L>H3JMJ]8D_U-_G$P^J,87I3%OOU;AJ,(E#V@\Q*3>7U:J^.
M<GW?^?$!E_'V?J_O/O1>5;*R6@4;^I&YB7`"I=T6D;9';&%N6G7VEC+>>^^'
M1A\C"#`!X7,`T&S!MM'Y'[AF%Q(XW6HA"V`3,P3_`36@#G3B2+F`^CY*O8L%
MT9E_DR3^HJV&$MHG^BW::BZR1B@$]NU7-OU#"!;``K0A*8R@/WE$S*Q$&8B7
M^]`(Y:1#(3V068*O;A02$@VD:FTE#*#BT%9H)['@`(Z@#5*8%PDW'Y(J_1EM
M_3?9X[P_"$%@E`/;U88'"`4!?``&?`4"?`$7B08'`P(3?)-\`@65!XR4?`B3
M#@$`?`>&B(J:CI"2FZ&3`8.MKYNRL[2UMK>XN;J[O+V^O\#!PL/$Q<;'R,G*
MR\S-SL_(#K($``F)?&()`(.#`HD'T]77?-3C#)0""02QDP(`!`(#"IO4`#8"
MK^64Y^WJ[(0``'@+&,H;_[2#"!,J7,BPH<.'$"-*G(A0FBT)&VQ=ZI6NF(0'
MMCI2'$FRI,F3*%.J7,DRX@,(MB"`-!:@P(!B+VO5O-FRI\^?0(,*'4H4*`2+
MM'*6W""AJ-.G4*-*G4HU:D99^`Q((X!5V;5QMSI4'4NVK-FS:-/>TE!A$X-M
M!&`0FJ:,%2M<,]7JW<NWK]^_!RM8H)3`D*>Y`7B."W#-%:4!C!?SG&4WEV#`
MF#-KWLR9+U*NE$`>$,3`4,$#CM<I2,!'`0-0YR(%8#"/\J2[,6%VWLV[M^_?
M))'>A8!!5+M0R"=3ZB1P$CB;SFE5QAL!N/7KV+-K[X5A\-Q)%MK>1?Y]4KT+
MY?_)WY:^'A?2[?#CRY^/.8+8\C/'S]T8G1,AGI?PQ]\J[=V2%WT()JC@@D4Q
MA<DZ3]RD7R@&"#((:@2@IP!J"8!CP&L%<"6`8>VAEI@M[S&HXHHLMNB0!=X)
M0,T7-\7"32OO\&$`7#C6-,F.M16VR2L$@27+@2XFJ>223`)#P285I,A+/(J`
M)@MKP,#8Y)9<=LEE!IO(%,QL"&")C%)>IJGFFO-94-PD&GA'T@;5L6GGG7CN
M%L&3DZ`YTE5Y!BKHH&EET!0?#K15$I^$-NKHHT1!H$&?)R$)Z:689CJ215)*
M1)RFH(8JJD(66>JI;J.FJNJJPG3'AZD1:7`HJ[36:NO_+(G*.1*LM_;JJZ8.
M:(#JIK\6:VRF&'@P+$6\'NOLLVH::E*GT%9K+9-^,GOMMMPJ^0"U$#7;[;CD
M9N>``[-.=%FY[+:;W0,8B+L0!,NZ:^^]FCT0`9@C65`OO@`'K!9(X?TI\,$(
MGW44'Q\9G/##$$,E)J(CW1?QQ1C[-+&6$UF<\<<@ES1Q!(!&5'+(**?<$`:3
MPJFHR2K'+#-":.[IJ:XSYZPS3L."FQ"].P<M-#!^QAL1T$,GK;0MV7H0$0;_
M+BVUT-FZ&>[46"^=+<4/R9OUUR!OC6[78)>=\]82M-R0UV:WC;`#=<K20;JD
MNFUWV+5,S!#;=_?=+J^,+L2W_]^$=\NKJWL7KGC`S?(K^.*0V]MLG`SY'/GE
MSXKK>$*#8^YYK>(^0#<TG7]N>JIPWQ*!Y<J4?OKKP$9-B0.R+^,Z[+@_NK4L
M$K!^9N[`@UY[GZ,W<WOPR-^Y.^^!/W-\\M"GN;PLTA[T?/38-SE]F"<S\VGV
MX#>Z_29T0H-T^.CG.3XE#3]S?OKPKVD!W]4W\W[\^'.I=RX0=)_,_?D+H)+V
MEPL*O&P9`!2@`E=$0%STSAD)7*`$$]1`]Q3/&!&<H`;CLSI?2&!S_QO>!D=X
MG=(]X(#(R"`)5PB<TMD,@2)DH0PYX[M9K.\7*IRA#O,%C'W!<(=`[,WM*)>,
M]@7QB/_YBILO_$>,ZR'QB4[)84QPAA,H6K$O4K1%!I18Q2MZ,2WK`@8&:K@+
M)W[QC"MY7NJ.848TNG%:PY!`\X;1QC?:<2+7<P`5@U''._K1(=?[(!O_2$BA
M)(H8DC(&&0O)2(G<$!<@Y&,C)[D2"ZA-&/WK(B4W*3(SCHV.G`SE2!Y8C!<*
MHX^B3"71CB&L82Q2E;",!C(ZP,5>H#*6N#00,CHHR5SZ\AD%.\8G?W'+7QJ3
M#UG<102<1K0+'O.9OXA`'S7@NF1"\YJVF",QALD+:V+SFYM`904BR;\8@O.<
MAU&&!BZI"Y*A\YUX<:8P*%!+7#`1GO"L(#&BM$1\^I-W]QS_!@7V:`N/_=.?
M`17&ONI9BX0>%)O%Y$,%V'D+ASX4FE`SGCE/>%%_3K09]MF%-SN:RU?V@I_\
M>Q-)WQE13Q!T$])<*3Q-V@O[,#2<,GUG,)LAQUS0-*>AK$!+^S2\H0(5C09E
MQ@90*(N?'G63%B5&3U'T5'#ZZR"69-I-JXI+(SZC`TP%CSFY*DJG]D*.]1PI
M62FI3>^9*J9K?29;.+='H\85B6E+R)Y&E]2[XI*</*6G+*+J5THZ*"$6:![M
M"OM+CG%N6(]D;"/-"HSZ>56RL*3L+RK@,<UB]HNR8@A*7_597(:15+KQ;&FO
M"-AG[*LM=ETM"^NWD(Q<5;:I3&1#_R"0@>_AMJP/H69L?[O!ME:$F<3E9$8?
MXH&P)I>0O'2(`VCYW$UR<UX46&-U&4E$0#Y@N-O-'RFERX?NAO>/J@6&-/8E
MS_-Z$7%KJXY]VNM>*Z;7%TB;:GWM>-^SJ@T"?=WO%8WFD,#I4\!/7.9#M(LH
MBB(8BCL5W+(<H-('6_&RB*5H!IQK82"V]AGCI03)Z-OA%;:R(9WZX%9+O,*0
MQI<6%1`LBX]X780L=Q86Z.^,HX?A@\"5%A"0\8YU^&%G^.Q<0]YAA!-B.<<F
M>842"+#SVDOA)\O0@`Q9F.HR\%(K"S"Z"K%H^;P\0N,ZP\PBWC"9-PC?A-P8
M%Q0@\9K#)_]EGCJ8%J^=LP3-BQ`T;P(C'-8S^ORLC$5R-M""SI[H%N+D7``Z
MT>(%KT0)#:6E0AI_BU5(D6%LZ4NG+\@+":T'Y^;I]#$8&A_=+%A+';Y4)X32
MLUBFG%EMNC@K!-:S.#2ML8<!7!-CR36E[:Z#=VIGZ+>':AXV\O*:D#KOPM;*
M#IZOZ8CH7.RKPM%^':@1\F.!=CG;D=LBDXVQKV^#6W$]9D:Q@]'H<V-NW0C$
MMBLW[>Z^\38A].9%CNO].6A#X[#'P("X^1TY,#NCW?L<,\$7=\B#3-O:'ECQ
MPLLFR(/HF`\DJ_;$OZ;'@[QYEQF0]\;=EN]A&#P9%+CSR,%V8&3_8+D9O9;X
MRI=&ZF>L$YCP#F``ZA&0$R'#2"L!>E4$H`""`$`!)"(&9+3QCG_8Z=C,,&4S
MQJGQ[%D"`0O(NM87,($#U(88!E#%,-P1$*$CXP!F%X8!TJX+@RB=``RXP-:S
MS@$&)$`YOA@``28P]P5T8DC5P'N3:EQHF<?QY?F;3=\7SX&[#^,`"[#2F+3N
M])\O`#W)*``XA'$`W/S"'1Q8_-PY@/9?A%WT"X@%`"YP@+@GO4D+?<9I01JL
M_"4`]:*O_"X&D'6Q3S[KNC<&`;+^=6-@7?"[][O:Y=[W"6"][Q<(/BT&P/>M
M.Y_RE%@```XP`5"DZ>;/N#@M'%!RV`V`_P%;9[T"E&.`!#P_]<(``/:%$8#Y
M+T,`6O_[,4+O>5[(GP/!4`"AIW4'0`#*(0\',(!9-R"X`'F])WGI,`X7```3
M,`$[DB9[8GC!0`$BQPSCI(&F,P#,EW7\8`L&$'K2APL*Z'N_4'_`UPP%L'6O
MIW9T%PP#B'RX(']:QP!L=WY;QX"UP'MTAX.4P'T`@``<4'Q<,EK>(WYXIBS@
M@WYT-X/3]QK!X(#VUX)9B`P#H(#*9PP*0("_@(5*F`NW1W?]5PL$H(!I*`LN
M&'FY,``'<`!EPB:9U@Q.B&<#A3W#EW470(26-W<EJ(4ON`QGN'62%W];QW:S
M@']:UX:U8``RV/\+DJAU5+@*6:=_F1(!1P!,8W4,%E!^D%.)"\`!C'@,.DAZ
M6\@+;YB"P"``S,<``ZB)PO!^VM<+.DB"O?!^B:@+;_B'MZ"#M(@INA5U>5@+
M8S1KBR.%"U"&S<!\E\!\F$>(\*<,6"@CEE@,7@B`O+"-O$"*D(@+AV@FTN&'
MIS@H%/")OG",M3!.ZN@W0GAY"7&(B9"+KD@+K;@,LS@)S+=Y]*=U_;@+#OA^
MY\@'S,<!@'@+7>B'M_"&X=@HG'5PYA9U%"!I,M.'U0@-"[D`_"""F0@,^9@,
M?6B*YK&*O3"0&'F*CIAZU0>$M`".PW"(ES@)"MB+EU*,RN!.#]%KRGC_-P[(
M@LZ`D5:2DM1XC[PP`,_GCROIC\"0E!YYBSGXD5(XC+0@D\0P@.1(&5K7>*(B
M9.K4D\D@<%5W-]27=0^)#,Q'B])8E,F0BTEWC<*@=5SA@@BID`.8"&?(C;@P
ME<7@@(-("QC)=<[H*!A!>Q&Q.A8),B$)#1CY>H<XF+:PF,:PEK(P@"[IB_/'
M?.&H@_SPAJ?X?&>9"\*8"S'X@PD9*`\PD4XR$1H@BF4CF<VPD</XE'^9"[`Y
M#$*IE:5HE-/PD269=6:WDJ]0ELV8"\\'F;P0AE^("Z<'D#;9*`.G#%8C$16P
M`1WH-[>Y#+DY"QAYFD-BDL%0?;59"6+X"Z6)_QO06`NEJ8D.>);/QYN1Z9NZ
M4)J/F"E0=PQ1-A)<=CG9J0S/1Y5\L)&7J1/@^0N'J'MPZ0O/)WET*7@;R0YG
M"*";L*#%T(<22@L"P(P+P)2/`G[*@'@2$8I@*35OF)7+0(K!1Y\S.0O]^0O5
M!Y2;8)F_L(759Z)GR()T:9QF60RCZ0O*27R9$IV[Q(Z\8!_7Z3;/-Z#'\'S3
MB*'EB9F%2`QO^)RW07<%^9L+P)U:!Q8KV8L%ZAP,20Q2R*&[H``#J`F7@E;+
M0*1%^BV+4YI-JIUR&97`N0LMV@M\J9`[>)+RN0D!681A*@O51Z:]&:7!,*?`
M\*.A>2?[I@QM1A'N6/\X/VJBR/!\=6F7.PJE&2D,79H+#GBINC"HM*"<E[J1
MSIBG(?&DP)"@P!"+P#*6RN2:/I9=(*@T!^F=U(B<E)"*]WBGNT"9N!```[BH
M?("HLP":5;J<5Z)UN<",5XH5^?=X?0HI>P*KNE!E)Q%C[R@TN4BL?"J/;:>J
M\6FH(%F?NN"`<6J"X-F'$P`)S/><;[BBY$F"N"H+6$BENM"CR/)PMQ!B)2%'
M*I<U2&FNR/"C^&JO6VJ;7ZH+3(JK2ZD+AW@+FHFNMA"/!WL(XIJO6J>DNH"J
MR**:O)!S$]$_VZHSI`B'NT`EMX"%]2H`PZJPY.H+G<H+EGJ:#DBHA.&'6'G_
M"TF:"RYKK+J`D20Y#*X:*L*&2"#K$.-TI%,3F*6'"V8J?0^+BU,8K`N+"W#J
M"PZ9"]5WL+9XH7P0H;ZH@`B@DEBXJ<!PB!<[*!A1J[A0<RJ16-:Z,S]Z><$G
M`.]Y"Z6IEU.RL58;LWV;J;L8J+:PL(%YL&]8INF'KXNP=;J:"QB)IJ'"A,6`
M<">Q`8EY+VNX=:2W#:Z@``4P@F@[)"_["S7;D%KG?`BPNJS;NBN;L#)+L/C(
MK+D`K+>0C;J@`-7GAP48&3L7NIS[N)N0``G@"JZP>EL'GX("+RBG,2'G-D^)
M>ULYD\Q8KYLPJ:@KO;0[?1F["]5K"P,)L5E'J;/0_[5':8O:BP#6RPFXYZV$
MTEO(<&(M(4UL*C`$@+[0][1.FG4X>ZZ$RZ+:N[VSL+?K2PDE:@M_B@M(J;X=
MVWM:B[]]AP!K>ZRB=P'"2ZU>:7+UBT'6:3<R@K]'9YM%PJD$<;=&=\(H;`L$
M<<%J&!!46L)E>L&@$!#`H'?X>P'PH(ASAQJW,D[1D+0480%PZS99T2W&J[RW
M@`\!(*^I0DW'$&-"$6,6X+8S=R_86@R$UQ(8L`$E6\7LDF<>D;GD=BY4[,7L
M(J3"D,4](4<B:\8`$V-EO`F]YA01D%A,Z\;WTJC$`'!$4<?)AL<)PV?`,'M$
M\4$;#,BB<L7S-!5'H2^(+/\P$A!QOW;(T"!P7?S(QK)7Q(#&3^''EXS)O@(!
MG3@,KC85TG2TH#PNE/L+_-H2;!S'^#/!9R3+?&`!A$4+&&`$26<`M'P07-'+
MDX`"%-#*)\K$W+(CVT<D`%``AE!T`,"#`5H`V_=Z%1(05.B^N5#-(=P+2.PN
MSEP-`[S,6,)SM[',AL!S?SD`T@S.MF%+7:8?LR`"[``*O!P,V[`<FZ#.`4&^
MDY``_*$>NRK.YL$>C1P!;D<+G5<`+-R"W5PM2*DCM8$;`Q`*CE<>B@"$^'`-
MK.`8E0`9AH`/C^%SD,&E+LD8[:`8E:`CCN!S%X-TSCP;ZMD>!,#+$4T/DJ?.
M>.?_T>V!#S<1#TM<"?.,!I,RTK(`SXK0&"7P(P8`"I"@(T>-#MT`U,IQSY.@
MB="!"^[PSQ;]':SP%8E1CXHP`!*@!6Q@#8KP>M.A(SQ!U)5@&(U@`#QA&"R]
M=APM,`(`#H]P&R0B(^DQO+.`S)L7"D6GT(0@S0>@#07`&I:PS!*2([LZ@P'!
MS(1`)(5-`/?;'!BS#9?PN\A'(;4Q``G``#Q1")30KD-BH]L'ULA\#LN\??XL
MS>5<`&U@`<N<B/`<V?,0`"(0`00@S=+L?66RS(E```D-`/K,#E3M'X0!L9:-
M)0#='I5!W*U]"`&!=@%P`$1``D/0>44-W>8,$'/IPI5-_]CJ#!#040"^W=#0
M4GKZ1]7G)R&[2B`Z,0BXP1R@L7F=P,#E3:;#N`Y5[0Z4C=G8W"X]9\!.IPV*
MH'KM_0I%5]3!]]S'>]_KX=^<$`,X('@(0!#@0.&($``EX`"LH`W`G0@3_1WN
MT'Z4$0L+WK$#((+KX7F1#1KJX0[&40FAX`H0L`)90#>=-PKD0-F;1^-S@=G@
M@'0Y[`Y\';;J[2R@6]6[^@JPW=?Q+0N@G<QS@<SH0=6LP!SQW=M@(=K=?1N@
M$.!3GC'5P!60@7184;8)OJLK+@IXEP!E^,US,=')K.4OOJLF4`0T8"0FXB-W
M<<0;L-';$`KMW=<!,=4J3@D$\/^XEN`<IK'5VR#G>5[IB#$(!N`#(J`!<2,(
MI6!T&][A&7Z$Y0$.R$$0",#1=8TOO<WHAF'<Y&`E1OWCLB#9CA$*^#W9[=$)
M)<@?3+ES5W(-HT#5ES#K%V,-D?TA6)'7`8HE!@"ZKWX3Y8T5GH?B0WX(B7"\
ME#T79BT*!K`G,I!T^M'M,^T*$A`"YE'HRGWM`<H*TR[F^%SF&F%TQ2[I_:$>
M):X?=9T`*'`N31$*Y=WMFS#L\JWD%#T9SVX>2UXLCS[P.L(:K4X)%[@:@CJ<
MAP#7/(SK.@*`>.X?X$SIWV"OKY`(=ZTCY]#J,#T>!=PN@H`)_\#FE(`(U!<=
MUF[9@.G_[@]/#N0A\ZG>\:=A\I4@`66P!`7_\V'7YEP0#YT'W/$M"%7>XN^N
MZT[.Z+".TNC`E%P.X[<!UDZ/X/H^#WC)%1CQ`.@N"B,"YB1O'*4`UC_"`%QQ
M@2W.!SQXUU%]+S-,PS8.&CP'&D`RJF77[#.=[3K"(R:M"`.M"%2M#4#GS&[M
MV(CO&+$PT0MOQ.^`=V3W]WI7T>XPE"8HWJTA$#<RT?"0T:U0^GG?SP!`!@!G
M(\<!&@8Q!TI0&(PQ"%8R")F_(Q-=T3A"PS#\\([-#DL]))!A^$/2#J%/`(5Q
MXP;<SXV>W!+UX1#PTV2'E\U1Y3="&#P!"HXG(X%/_*FL)C[T_PN*?`MJGA+E
M[PO2Y`%W_/VL\H$>A&;U`,P($?\FEUB<SOZ9[)K3N1D?!`@9$GR$A8:'B(F*
MBXR-CH^0D9*3E)66C0(*A0&7AP$"`0!\HHZ<G(D#!`"GH:>J`*1\!@`)`ZFT
M`X>S``)\`K"PO0*JG+_`O9W)RLO,S<Z'P[B(J\T"!HL""0`$B;&.%1D1C=R%
M$13BSY,#IXCLZ8H0#@X0[XGN]?CY^OOM'(7>G02L$P50$<%$`B8(XT,@`9\$
MUP`6$&5KP+5?GO@,8'#H0*X"`GD9NI"+G\F3*)<).-"KY"%JRQ(()(#,D`*/
M&KM)BI"A$8)#%C1$*BB)J`)N`32][/]$%)(%("46P93ZJ&;*JUBSV@/P<Q0A
M54H#M"I$@$`NL0246OL4RJNOJ4N)RC3$D=!!0P4,ZC5TP"XA!=<("<BKM;#A
MJP!<"H:5BUHHAWS$`C#P"W*J6G\G:U0P(4%91`44RV+L%JRO;+54!1Z`Y4RN
M`;0._:2Y+8(19`ZS*9VEX!<"FJAO!9Z%+("J7@00B.+]=14#<H9$!1B0H-:Z
MOV?GPN;&%2GORH12F8W\"RD"(EH<#&*8.``"EFC?)A[U6Z/G\-I`1284"O?\
MPP`&V(EDG%#4RWT,%'@-2X.-P@UA+*W2EB@80:03406$0DXLHAQ`2R_&Y2=8
M*$J!%IU2!$S_1!@A.`GHXHO*0&;(-0/TM8I%LG"3(!\,Y&4`-RQM-`PWN1@0
M0&<8&9)).V]Y-<"!H#!@$0+7Y"6`E"M5D)AH/R'@D'$")#':+P,H`%%>)4DG
MI0%4\I%76CQ>HQ`??;F%)B':0%000:$-D!=A>=W($0)/^L6C)@#X^*`U@7[)
M'2<2/.#`%TOD1,TV_&E$"H6A&>!0`=<P<!`!G/2E'8RHINK)=#86XFF'X1U@
M@%($Y7+?3Q(>A!EU%R9R0`(!5.>65V(IP%$`!RB`+(@`R)K(9X5,4%)RHO*E
MZK78[G7(.A.,<HJ1HA`&`*T_"@9L:(4H\%NYAHB%4`"!;@)L4H2(__L0,@3L
M,,(]?'29)A](2$`39J.L5)-T2ME+2C9N&DH*2^E.)FQ<R,`ZC%N`[6@H8?2.
M,JM?_Q'$3@1W].!%!=Z.XA(H]B9`JUL8W068F:)E:[-6[BH`BRS):C,L`L@"
M`S,#Y>;J%3!P_3,L7H7\M*(W8G7<EM*AD))`G9F92PB[T-[L-:H%%0!LMZL8
MD.R$=ITBH=+E;5TL(KP:LA&I\9H=;-0.#QO`"QMT@6[3_2K=P@8$`4-D`O:Z
MZU:'P!28MWVDE)E4S7=Y18"GN2@7#$/H;LJ?VD'OS&'*2G)Q`@4?F.!6C72#
M["&FHS.^N0&@?FU[2HHC$"\?.@?^UL5*$_^B7-IHT\1(Y=$!+J5]AAA/BIG)
MS[@BBZXJ%?<%MV<?X%S1DST6;(NKW2!#T#7UDE6*Q_L\WHN37Z\`$F3`@CM=
M*DU`#J(8OQ2Q:H.\O^?!:T3E*+2SI:6M?9$1'W2&);)$_`0$(G``"/A#"GMU
MS2UH(XKYM,=!92AN`/XP&^+"!0MT%6`BW$E7G8Q&D=>%)"Y"*X0Q,N0+%>7B
M%>1X17M@0;1#3*!Q&L':*&S(NPUV\(CU@`TP/D(+[XG09YOJGPXC@T*X"5$^
ML=D(+>KVJPPI#H"&>T@(4O`#0]3/+R`T@D9.N(K!)(I%:VN?V38'0`6`9")$
M:9'_#,4`R!#@=73_2E1C>$&*+PX1=E0[`#MT1D-DO0`$&7#`#SR$.$*("C83
MX<0?MW&0.8J"D8%!HBCW8<1*&&>4J$QE!Z>&D@Q@X!$:L(!AL'<["5#``Z^$
M1+!4R4N4E)(2T^FE,(>)JF"FA">R=$0'UH,5_7`0`_*P`#,/H:R;U(R8V%2&
M5;+)S6YZLQD/$$HC(N"`;]:C`A3H0#+E%H!0FO.=\(RG/+6Y36QJ@`*.4(\V
M%5%/2_33&?^<!#0=(,UY&I0A"-"8>["VT$,D!P%M&HSNO@)1?CT41`EM&D0)
MDX#A'?2C*/F%.[5B@)'B`P(;:(0)E+`DWE6B*;^T"T1E%#V5B*2FRZC`_P,Z
M\`"0FA,C*UFC++[D(YK"13-'V4^-K!(;C2#+%Y#I"G^^%%.?6M42BCN,+4X"
M@7`P@@0:\,@N*0$0`#JB`-;3B4J`E=0`-B,"&*"``S0PS:ORDF$U*IA=?E&Q
MZ+A#)*?\1RC]Y%<\":^F5;6K8DMQ`$6.1C.OVD1@^J)$%&TM(C==HTA4`9E@
ME/2Q@<FA9JW2D&VH`B>[N,:KQL4'"10!!+6`C)'X0X&HN<,8#BD++&B$0F\D
MAR#:F(\QW`FGEQ10.HGBQH\2M0MRY(D_$\'3*L9UL,S<%!AUTME__G%<7E`'
M`'#00#3KNM@CTB)9OO/6Z/[AH6_]:GF%F%Z(1/_B,NKQX0+;L%5)I%K>_IJR
M&![):P#@"U6>Q<E-O2@D)Z1E".U42$[7<%>`&9!@OUA(,3TLP+&`9`OXS*DO
MO[`"%A!W#>X%H`(U:.=M<T'A9MDB+_4E0%V"QP!-W,>[T]-C>*#D%0.\.#)]
M,<`%JL0[;JBB7X5Z2*+8YY7!6(0CLY#%`GCG(V\(@,=S(A6="%$!\1*4O/[U
MVD:TD1>I3M>M^-)D'VL71'<@ZR/3`4:W<M(@/R6*OV'.<RD*I!1E995Z(`DL
M^!1L0+,E.&IWB9I:[K*<'D:/0ZPMXM1$%H`3K,".`YAS(1ZPSG9Q92Q'B^__
M_H$LL0@1SUMKEN/*Q)7_!.9M13:*12B6F[S_*"L63BO)]$;C6%),0"S`.H1.
M'4"!@NK99I?;:XLF$S*]$`9\#[EBQS"8I."M(Z_'SO8BW`43VQX")'W):J(=
MYPE0(8W<WM[CPF@8/$BSXLQ'`X8-O)"L7?,!GP[-D")A,L!1ITUSWF"SJQ09
M;!(^U9"A-E2*2E)-INJ-E;ARZTWNYA;\;BX179;'`^BA;50ENV!XS9]#H+VJ
MAFG*?=/X"W0\M;^OT+3C,'?74^FTCGNP:>0,#C:@R+VM<?WU<]C>$6&D.@#^
MFI47=5+DI'G'#@N88<:&@$!/F<8C4-?*%W@^.F%]I9CY%+QA&W%U^R`K57;K
M_V67&Y&<1OR1Q5/;BMQ_>X0$XBI78\/\,,J)[BB:53&^NUH5!<BN<BC<+R!:
M[83A/H"&XPN`'85"[W>_N^+LB%:QCR0P*SENX"]U"&U`+.\1^1R5*[_WQBH9
M8NU6&N4UL70>*5ZY40"S*VWBH7WW3P#*\1`U]ZUZ40$$][#@QI40Y[C-A[M_
M;JD](7YXQ90/T;&%/T!78(%Z_CR'A@O+/24>D($-:``"Z(B\^,<O?E2GT@`H
MH$`N#6%+Q4(=)7.7U%S!3_[ZVW^Q?EJ@*@U0%X(B`@/B=%`_@BPFA1428`$;
MT`$40'_WUX`.^$XX,DR440CW%'Z$(`@@92379!@2(/]U<L5I#/B`(CB"5\4O
MD'!ER>!,CU`!&T`/Y"`!'N`(*(@2]V""\50!4K<!&^``4T>"/OB#V<(N2O)2
MT*!+-A@)K"1W%$`#[(`!&+`+V[4)1U@)'R>$.&4YE[!R[@2%&W@M$(`!DA*&
M&,!Q0%B&9N@BB>56!K1M4_@(20@)'Y!2A;`%[U=RS=!M&M1REB!KBU2'1_2%
M#T`!.LB#8':&AGB(BT`,MP`9=L1<Y:(-M`$T[($9$R$0D*@IM.!;RC$DFB1(
M5$8+ID`::`4+C(0<S7(-94$JHA!LJJ!_K]`8"&`#&8`R?!`"<K@)R?5WGI@6
MB<)(N6`,M')4[R9=G86)/J/_7-H5C,U20YGU<&K82Q`@=6'(@R`(`86(B-A(
M@LL3;)-#"D#3"M,C':'(!QR@7P^A,YQ0=/NC,:]1"SO'*^HHB=`3=O_B&+U8
M+].@"=@F"N0D%`D``0&8$_R3$[RR(_/H$=OX-B\Q+SY3.[1S-.D8<?""C\JR
M=DCF?);W<M^$@](8AA[9@]D8DO5708CV19)1(R5":1/9%5Y4-:+V:#(47),'
M;&+1+5V1.QIQ6AC4&?&E?RMB+X0@#Z+@5>&A,S_A+MD@.J+7+QT#&RCY$J^C
M>YI&-L,2+X:$:[RC8\YH*%;%D60HDF`9>20I%J``.E,S8"`3-=?`DE%3;;L&
M0$[F_RVGX&?SP@DW>0H(<"455D@%D)<#1W4FYPT5\`$8(`$=@`Z]ED!Q.6["
MTY3/XPUXR`=3F7`-(XY[Y#M^4B);N89AV9F>V4&;HIF$\6NLM$*1H9G3YQ*L
MI8XP>9JCL65NP@G3<Y>-*7RM$AGC`G734U];!Q`$0`?A)$YH<BQO$V6$%CC;
M&$KA.(P6PG($H8\2V3_T,@!3EC4!E%4-\9G:N9VW0PY*)!*-F"$_DGG!>$BR
M&2O!\%WW(3V!M7>GI%W)=A.80AB?59GC8F1;HUR?$FED01H,@0@&``(?D`-Q
MP#G9^5FP<$KD4)]60HK,2%S#X5Q-=3BT@)_UN2&T@"O24/\(+D0[L[-$#%&`
MW#FB)(HJ?JE8';`!%O@UM%2B+OJBJ`1$Y:4!&W"-,&(,S0BC.KJC/"H)#X!+
M/1JDDE"?0EJD`A(!._@`-FJD0?IG3/JD65$!ZI$!`0FE#AB!,SA;&H$,UE`2
MJ^%.S@0*(,(*IR`0[>0+['!MX?$)[8`,]6D+LP4*76BE.JH!K\1]2TJG,"<N
M=:%A!T(*1..-J&@99W-E=%-S3-<[JG8U:1%N&5([:.4.=B06F6E'0'84OP(O
M<ZJG+JI^?!`!DK*BG"J6!X(FP:=D/O83V!,BL?D7&IENAX4IL"D*#$986@E?
M1R:7#W-`HQJDX$"!&-BKXO<CLP+_&)IA;F;R&2PA)1SQ-$HR$4K7B0"`/?SF
M%V8F"Z3'E7B(<$DCK#`JI>5`;*+JK7I6`&9!'2R9%DJ4G^$R5@_!#CWD;76"
M*\A'JR\)FY94".M9%MS:AN2ZG0ZP?GS050+[KWFVC('T%>(2"SN2$"`21,I2
M&1,G8<9!K?5*1?""B@?W%UY4J7G1KP:[H^9`BX5@`1GPE2%;7HK#IF@Z(F3Q
MLOO1',CQ"5<F#+R`%,61*;_3'#K[%CE$#C/("@&5LMK9?H=@2R!)M$J[M#T*
M38D``110I4P[M52[G9Z:"!C0`2A;M5S;M=@8K(@`J@OHM61;MF6(I#9*;'GJ
M:0MD#$HB_ZL4]'-+&;/1`;1(@R\+!&HR!+<,P0Y\91<R:K:".[B/X+2,(*5*
MZ@BL,SGU(B&GH`U)T29'@9W.,@HM*A'&05E1<P$)I@"]4R/S,B.KD*LU=F2#
M`2^F(!GZ1[BLV[J$$$N.T%52^Q*B45Q_J31[`FV)4HQJ)1AS%D7!=CQB5SG\
MI96N>[R#VX*/8`'%I@AQTV"(P#WXV!`N05AUX1P5!C?A>&@4]+$B.FA2N%XU
MA+SDV[H4L+8#RX,K^H88I)310X!X4F(%TDZWV1$+M$+OUEZ]LRV$QX?B"WWE
M&\!E*Z7CJ@C,VVG5IJ_)HS]<25@#<`'`9B,*4A!OYBJ=E;_/^/]&#R>^FB;`
M'MRU<34)\?``Z""]<TLA4O60]N.X"@$3NF<3NT8H[19E7/D5*[<A#_$:=6&[
M']S#5!L4E``!'B!+5T(J"E`2BF=J?Z%(G'$@29$74/<*KE"=X0'!E!H9NNFY
M/D)PTZ,N[(,`1V$EB@1]?NC#9IRR`5L)4*L>H.!.B%H(ZS!89RH+NB`0F\!.
M4?.+VT2DD2$:99E5$[BF+B&B9US(W@J#!>P($N!]Z&O(COS()L$3C8P($B`/
M!0O)F)S)_(!2RO"CG:;)H!S*SA`/RV`!\C#)HIS*JGP(&C"[E5#)6KO*LCS+
MC3![S!`!]T17M+S+O.P`),L,D4*EJ,S_R\3LP1&P3.D@`??T`+]<S,[LR+:4
MR,EP@'+5S,]\S1^,3M*L#`/UR=C\S>1KROPP4+H,SN;LN@#(51F@?MM\SNZ\
MM'*5$F`8M5O[SO:LM!MG@#M%`=9\S_Y,KE=K@*8\5_W\SP8-I4AZR5=1`1;@
M`1F0M`<=T45J#NUL$@<H#P$[S!*]T2)YS!JM#SFX`1#-T22MG3Q1T5@!5X'(
M@]98TB[=F170`07M(A$`D#PX?RC]TCIM?R'\-1`PT#QH`2'(2S@H*3M]U%BA
MS1Q4U#<=3M%X.S4-ADTMU#F-U%;-#%";2E+G`#I(`=7XT>_`D0_`?3HXUE=]
MUH5!P,/$D1HP_];42(U.'8W1.-.,(-?1"(9N_=9C_7U#C=9^K14]'4\=.=:"
MJ(.&?=B(?=AP;=9_W=C8`JZ.'=E$BP&W*-F6[:WW=-F:+:P0T`&;_=EZ"MF@
M/=I&"@Y53=JHW9FDG-JLK:-*W=JP3:+0=-JQ7=M`R()T;=NZ?8992]N[_=OW
M-[+`/=R'*,G$?=QGNP$*C=S,;7_FL-S-'=WBE\;27=WU)P_6G=WBU\K:W=T=
M1]F^[=WB_4YQ%=[C?=[<M,BYC=[L#4\GV][P_5'DY,WQ7=_?-%?VG=_O9,I@
MK=_^[=-'8-[_/>#9PA/U3.`(WD']F.`,/DKA).`-'N&&$5?]+>$6GL34LWCA
M&FXS\[WA'GXMV/WA(OXBX%#A(W[BP.P!ZXWB+)X/ZMOB,"[/1!GC-*X/X`#=
M-9[CRQ"(.M[CZ6"R$.[C0DX(Q^S*0W[DCP"J(XWD3-X(777@31[EA\`31B[E
M5LX'&)#A5[[E[-<!.,[E3"Y>)@[F)]Y5*T[F/4Y.YX#F6PZ#7XY-#1#G<C[G
M=%[G=G[G>)[G>K[G?-[G?O[G@![H@C[HA%[HAG[HB)[HBK[HC-[HCO[HD![I
..C&X")U`#DG[IA1X(`#L_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
