-----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,
 JdEsw5x4itA5WFYKBLNScj0q1oMGQqLF795R6NMJgDWE3eVnlZxmOfVhbIw6LSRD
 swVsNNGj2HIwu/PAg+AWUw==

<SEC-DOCUMENT>0000000000-08-000660.txt : 20080219
<SEC-HEADER>0000000000-08-000660.hdr.sgml : 20080218
<ACCEPTANCE-DATETIME>20080104131252
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000000000-08-000660
CONFORMED SUBMISSION TYPE:	UPLOAD
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20080104

FILED FOR:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRIVATEBANCORP, INC
		CENTRAL INDEX KEY:			0000889936
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				363681151
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		UPLOAD

	BUSINESS ADDRESS:	
		STREET 1:		70 WEST MADISON, SUITE 200
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
		BUSINESS PHONE:		3126837100

	MAIL ADDRESS:	
		STREET 1:		70 WEST MADISON, SUITE 200
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PRIVATEBANCORP INC
		DATE OF NAME CHANGE:	19990408
PUBLIC REFERENCE ACCESSION NUMBER:		0000950137-07-002933
</SEC-HEADER>
<DOCUMENT>
<TYPE>LETTER
<SEQUENCE>1
<FILENAME>filename1.pdf
<TEXT>
<PDF>
begin 644 filename1.pdf
M)5!$1BTQ+C0-)>+CS],-"C8P(#`@;V)J#3P\+TQI;F5A<FEZ960@,2],(#$T
M-#<X+T\@-C(O12`W,S,T+TX@,2]4(#$S,C,Q+T@@6R`U.38@,C`P73X^#65N
M9&]B:@T@("`@("`@("`@("`@("`@("`@#0IX<F5F#0HV,"`Q-0T*,#`P,#`P
M,#`Q-B`P,#`P,"!N#0HP,#`P,#`P.38T(#`P,#`P(&X-"C`P,#`P,#$R-3,@
M,#`P,#`@;@T*,#`P,#`P,34P-R`P,#`P,"!N#0HP,#`P,#`Q.3,Y(#`P,#`P
M(&X-"C`P,#`P,#(S-C0@,#`P,#`@;@T*,#`P,#`P,C,Y.2`P,#`P,"!N#0HP
M,#`P,#`S-#$W(#`P,#`P(&X-"C`P,#`P,#,X,38@,#`P,#`@;@T*,#`P,#`P
M-C4P.2`P,#`P,"!N#0HP,#`P,#`V-S4R(#`P,#`P(&X-"C`P,#`P,#<P,#$@
M,#`P,#`@;@T*,#`P,#`P-S(U-R`P,#`P,"!N#0HP,#`P,#`P-SDV(#`P,#`P
M(&X-"C`P,#`P,#`U.38@,#`P,#`@;@T*=')A:6QE<@T*/#PO4VEZ92`W-2]0
M<F5V(#$S,C(P+UA29693=&T@-SDV+U)O;W0@-C$@,"!2+TEN9F\@.2`P(%(O
M241;/#<T,S5%-T4Q1C1!-T4R,T0T.$5&-T0S,S!$,C,S-4%&/CPS,T$U,$,V
M0SDS0D%$-#0Q.3)%-3!#-T9&1D0U141&-3Y=/CX-"G-T87)T>')E9@T*,`T*
M)25%3T8-"B`@#0HW-"`P(&]B:@T\/"],96YG=&@@,3`S+T,@,3$T+T9I;'1E
M<B]&;&%T941E8V]D92])(#$S-B],(#DX+T\@.#(O4R`S.3X^<W1R96%M#0IX
MVF)@8.!F8&"190`"\8,,J(`9B%D8.!H8&)$$N:&8@4&9@8=W8Z]$`H-M8<XR
MA0N\"7>9%H`E@,JE[T'T,[8`:58&!L5\(,T$Q%9@,QEDDR#J6'CA!G,R,!A>
MAX@RL@($&`"%-`PY#0IE;F1S=')E86T-96YD;V)J#3<S(#`@;V)J#3P\+TQE
M;F=T:"`R,"]&:6QT97(O1FQA=&5$96-O9&4O5ULQ(#$@,5TO26YD97A;,3`@
M-3!=+T1E8V]D95!A<FUS/#PO0V]L=6UN<R`S+U!R961I8W1O<B`Q,CX^+U-I
M>F4@-C`O5'EP92]84F5F/CYS=')E86T-"GC:8F)B86!B8&`<ZA@@P``_UP"<
M#0IE;F1S=')E86T-96YD;V)J#38Q(#`@;V)J#3P\+TUA<FM);F9O/#PO3&5T
M=&5R<W!A8V5&;&%G<R`P+TUA<FME9"!T<G5E/CXO3W5T;&EN97,@,2`P(%(O
M365T861A=&$@."`P(%(O4&EE8V5);F9O/#PO36%R:V5D4$1&/#PO3&%S=$UO
M9&EF:65D*$0Z,C`P.#`Q,#0Q,S$P,#@I/CX^/B]086=E<R`W(#`@4B]086=E
M3&%Y;W5T+T]N94-O;'5M;B]3=')U8W14<F5E4F]O="`Q,"`P(%(O5'EP92]#
M871A;&]G+TQA;F<H_O\`10!.`"T`50!3*2],87-T36]D:69I960H1#HR,#`X
M,#$P-#$S,3`P."DO4&%G94QA8F5L<R`U(#`@4CX^#65N9&]B:@TV,B`P(&]B
M:@T\/"]#<F]P0F]X6S`@,"`V,3(@-SDR72]087)E;G0@-R`P(%(O4W1R=6-T
M4&%R96YT<R`P+T-O;G1E;G1S(#8V(#`@4B]2;W1A=&4@,"]-961I84)O>%LP
M(#`@-C$R(#<Y,ETO4F5S;W5R8V5S/#PO0V]L;W)3<&%C93P\+T-3,"`V-2`P
M(%(^/B]&;VYT/#PO5%0P(#8S(#`@4B]45#$@-C0@,"!2+U14,B`V-R`P(%(^
M/B]0<F]C4V5T6R]01$8O5&5X=%TO17AT1U-T871E/#PO1U,P(#<R(#`@4CX^
M/CXO5'EP92]086=E/CX-96YD;V)J#38S(#`@;V)J#3P\+U-U8G1Y<&4O5')U
M951Y<&4O1F]N=$1E<V-R:7!T;W(@-CD@,"!2+TQA<W1#:&%R(#$R,2]7:61T
M:'-;,C4P(#`@,"`P(#`@,"`P(#`@,"`P(#`@,"`R-3`@,S,S(#(U,"`P(#4P
M,"`U,#`@-3`P(#`@-3`P(#4P,"`U,#`@-3`P(#4P,"`P(#(W."`P(#`@,"`P
M(#`@,"`W,C(@-C8W(#8V-R`W,C(@,"`U-38@,"`W,C(@,S,S(#,X.2`W,C(@
M-C$Q(#@X.2`P(#<R,B`U-38@,"`P(#4U-B`P(#`@,"`Y-#0@,"`P(#`@,"`P
M(#`@,"`P(#`@-#0T(#`@-#0T(#4P,"`T-#0@,S,S(#4P,"`U,#`@,C<X(#`@
M,"`R-S@@-S<X(#4P,"`U,#`@-3`P(#`@,S,S(#,X.2`R-S@@-3`P(#4P,"`W
M,C(@,"`U,#!=+T)A<V5&;VYT+U1I;65S3F5W4F]M86Y04TU4+T9I<G-T0VAA
M<B`S,B]%;F-O9&EN9R]7:6Y!;G-I16YC;V1I;F<O5'EP92]&;VYT/CX-96YD
M;V)J#38T(#`@;V)J#3P\+U-U8G1Y<&4O5')U951Y<&4O1F]N=$1E<V-R:7!T
M;W(@-S`@,"!2+TQA<W1#:&%R(#$R,2]7:61T:'-;,C4P(#`@,"`P(#`@,"`P
M(#`@,"`P(#`@,"`R-3`@,S,S(#(U,"`P(#4P,"`U,#`@-3`P(#4P,"`P(#4P
M,"`U,#`@-3`P(#4P,"`P(#,S,R`P(#`@,"`P(#`@,"`P(#8V-R`P(#<R,B`V
M-C<@-C$Q(#`@,"`S.#D@,"`W-S@@,"`P(#<R,B`P(#8Q,2`P(#<R,B`P(#`@
M,"`P(#`@,"`W,C(@,"`P(#`@,"`P(#`@,"`U,#`@-34V(#0T-"`U-38@-#0T
M(#,S,R`P(#4U-B`R-S@@,"`P(#(W."`X,S,@-34V(#4P,"`U-38@,"`T-#0@
M,S@Y(#,S,R`U-38@-3`P(#`@,"`U,#!=+T)A<V5&;VYT+U1I;65S3F5W4F]M
M86Y04RU";VQD350O1FER<W1#:&%R(#,R+T5N8V]D:6YG+U=I;D%N<VE%;F-O
M9&EN9R]4>7!E+T9O;G0^/@UE;F1O8FH--C4@,"!O8FH-6R])0T-"87-E9"`V
M."`P(%)=#65N9&]B:@TV-B`P(&]B:@T\/"],96YG=&@@.30X+T9I;'1E<B]&
M;&%T941E8V]D93X^<W1R96%M#0I(B8Q6VV[;.!!]]U?,([6(9)*Z%T6!VDYV
MVVS:8JW%8I'V095I6PM9"B0Y1?Y^.:2NL50W@4%1XIPY<^8BK:+%\@N\?;M\
M6'_8`(5W[U:;-2R6ZRV%I)(W\!^J)%\L?Y>W#M5B&444&$3[!>/JJ5Q""CZW
M+=N#Z+0@8$3_+6X?$*:'9BTT!9-9S(5H,W.2MR>CWV9.V%=/.%=/N%=/>,,3
M#W&:P;8NGL!Q/39YWN_$BR*F%=*Q>O.Q!JT-MWPI20+:PD&+1VG"&'=Q"7RY
MZ#_C6_1QD`2*5N1CG)_C\@6<&^"4!I.^PE_.`*-7Q6%L$"UOJ%B44AOYF.WE
M#QV0RW1`JQ?XV]I:H-2,\QWLXZ1*3VDFH"[@*[$9_VH8`0$OL$V?22<JV@OG
M?.!\J`/M/&H)9[AW]:-HNAUCSGI[+<]#:<%&Y'E:P9\6W&>QJ$0Y#>J,0(->
MA@!!I9"/9'U,Q=YP"-RE>9PG:9S!9]SC+S5,1A($GXS8':'S'ITWZ.1+F3['
MM5A)X*)\NH$/>6)-,_5&6*\3IICZ%/XQ0B*05%7+?.W2JLAO8'M.:X$E-D/3
MOTI3:I#$AT+RR[(T+Z2P'O7DXTFF05^R;7;G*S*<Z+^.!;,H#U4F[+8G=S+.
MOV[?0"^<X1&MG<&H38E6<"I.WC6(BBY4+O"*\=Z%JUW<%>5)=I1Y#_NBA/HH
M-76Q`JH$+V0)_"N4#V7NH3ECEA^Z&"[:QR7<YCNQDW68B)-A>N2[P8E"*<%F
MJN&]&9KLI^DP&T=#LK(5=W`GOI=G*09.%!XH#_Z,!SZ=(<2!3X4%U.1N$/C3
M@]Z^;&/3:[MW-_=Z<*Z5+]D(*1JV;M.P;Z:!W$ONS)*3MA=DAL%<`S$-(>>+
MR3M)NSZ"8_PL("E.3YFHI<K%N812/*?B!Q1[>,'M7=&5PD6V'DEYPM$H2\DP
M?7*OYF<ILABQ]JELID.%]PRW\907T!?6@*22R;0MG'Q*ZX8H3J&SP4@I:[1$
MGI(X_D1>2^!:EFY:R:*`.E5WYUK#OWREM4.UF<G3HK[N]6M?">%K/VIP-2])
MV!K<=YF<JMQW`I+CCI($=Y@-M93Z&>Y<AV1Z]Z)/WNAE.D2;CJC.?Z:PZU\R
MO_"Q8T\$VL4Y+:8][A&&5M+:"<-NPK?F?YP/1\#873*<^&W\/Y/!G<RT1I_Z
M<GF/:+S-0K,4VL59+TVB:IV,<?8.`TXN66FP)HFQ!AOG^3@*8JT-FIOI*/E[
M7.RY.+U1N@?-/4C8;;3X7X`!`(?@BJ<-"F5N9'-T<F5A;0UE;F1O8FH--C<@
M,"!O8FH-/#PO4W5B='EP92]4<G5E5'EP92]&;VYT1&5S8W)I<'1O<B`W,2`P
M(%(O3&%S=$-H87(@,3(Q+U=I9'1H<ULR-3`@,"`P(#`@,"`P(#`@,"`S,S,@
M,S,S(#`@,"`P(#,S,R`R-3`@,"`P(#4P,"`U,#`@-3`P(#`@,"`U,#`@-3`P
M(#4P,"`P(#`@,"`P(#`@,"`P(#`@,"`V,3$@,"`P(#`@,"`P(#`@,"`P(#`@
M,"`X,S,@,"`P(#`@,"`P(#4P,"`P(#<R,B`P(#`@,"`P(#`@,"`P(#`@,"`P
M(#`@-3`P(#`@-#0T(#4P,"`T-#0@,C<X(#`@,"`R-S@@,"`P(#(W."`W,C(@
M-3`P(#4P,"`P(#`@,"`S.#D@,C<X(#`@,"`P(#`@-#0T72]"87-E1F]N="]4
M:6UE<TYE=U)O;6%N4%,M271A;&EC350O1FER<W1#:&%R(#,R+T5N8V]D:6YG
M+U=I;D%N<VE%;F-O9&EN9R]4>7!E+T9O;G0^/@UE;F1O8FH--C@@,"!O8FH-
M/#PO3&5N9W1H(#(U.3@O1FEL=&5R+T9L871E1&5C;V1E+TX@,R]!;'1E<FYA
M=&4O1&5V:6-E4D="/CYS=')E86T-"FC>G)9W5%37%H?/O7=ZH<TPTAEZDRXP
M@/0N(!T$41AF!AC*`,,,36R(J$!$$1$!19"@@`&CH4BLB&(A**A@#T@04&(P
MBJBH9$;62GQY>>_EY??'O=_:9^]S]]E[G[4N`"1/'RXO!98"()DGX`=Z.--7
MA4?0L?T`!GB``:8`,%GIJ;Y![L%`)"\W%WJZR`G\B]X,`4C\OF7HZ4^G@_]/
MTJQ4O@``R%_$YFQ..DO$^2).RA2DBNTS(J;&)(H91HF9+TI0Q')BCEODI9]]
M%ME1S.QD'EO$XIQ3V<EL,?>(>'N&D"-BQ$?$!1E<3J:(;XM8,TF8S!7Q6W%L
M,H>9#@"*)+8+.*QX$9N(F,0/#G01\7(`<*2X+SCF"Q9PL@3B0[FDI&;SN7'Q
M`KHN2X]N:FW-H'MR,I,X`H&A/Y.5R.2SZ2XIR:E,7C8`BV?^+!EQ;>FB(EN:
M6EM:&IH9F7Y1J/^Z^#<E[NTBO0KXW#.(UO>'[:_\4NH`8,R*:K/K#UO,?@`Z
MM@(@=_\/F^8A`"1%?6N_\<5Y:.)YB1<(4FV,C3,S,XVX'):1N*"_ZW\Z_`U]
M\3TC\7:_EX?NRHEE"I,$=''=6"E)*4(^/3V5R>+0#?\\Q/\X\*_S6!K(B>7P
M.3Q11*AHRKB\.%&[>6RN@)O"HW-Y_ZF)_S#L3UJ<:Y$H]9\`-<H(2-V@`N3G
M/H"B$`$2>5#<]=_[YH,/!>*;%Z8ZL3CWGP7]^ZYPB?B1SHW['.<2&$QG"?D9
MBVOB:PG0@``D`17(`Q6@`72!(3`#5L`6.`(WL`+X@6`0#M8"%H@'R8`/,D$N
MV`P*0!'8!?:"2E`#ZD$C:`$G0`<X#2Z`R^`ZN`GN@`=@!(R#YV`&O`'S$`1A
M(3)$@>0A54@+,H#,(`9D#[E!/E`@%`Y%0W$0#Q)"N=`6J`@JA2JA6J@1^A8Z
M!5V`KD(#T#UH%)J"?H7>PPA,@JFP,JP-&\,,V`GVAH/A-7`<G`;GP/GP3K@"
MKH./P>WP!?@Z?`<>@9_#LPA`B`@-44,,$0;B@O@A$4@LPD<V((5(.5*'M"!=
M2"]R"QE!II%W*`R*@J*C#%&V*$]4"(J%2D-M0!6C*E%'4>VH'M0MU"AJ!O4)
M348KH0W0-F@O]"IT'#H378`N1S>@V]"7T'?0X^@W&`R&AM'!6&$\,>&8!,PZ
M3#'F`*85<QXS@!G#S&*Q6'FL`=8.ZX=E8@78`NQ^[#'L.>P@=AS[%D?$J>+,
M<.ZX"!P/EX<KQS7ASN(&<1.X>;P47@MO@_?#L_'9^!)\/;X+?P,_CI\G2!-T
M"':$8$("83.A@M!"N$1X2'A%)!+5B=;$`"*7N(E803Q.O$(<);XCR9#T22ZD
M2)*0M)-TA'2>=(_TBDPF:Y,=R1%D`7DGN9%\D?R8_%:"(F$DX27!EM@H4271
M+C$H\4(2+ZDEZ22Y5C)'LESRI.0-R6DIO)2VE(L44VJ#5)74*:EAJ5EIBK2I
MM)]TLG2Q=)/T5>E)&:R,MHR;#%LF7^:PS$69,0I"T:"X4%B4+91ZRB7*.!5#
MU:%Z41.H1=1OJ/W4&5D9V66RH;)9LE6R9V1':`A-F^9%2Z*5T$[0AFCOER@O
M<5K"6;)C2<N2P25S<HIRCG(<N4*Y5KD[<N_EZ?)N\HGRN^4[Y!\IH!3T%0(4
M,A4.*EQ2F%:D*MHJLA0+%4\HWE>"E?25`I76*1U6ZE.:5591]E!.5=ZO?%%Y
M6H6FXJB2H%*F<E9E2I6B:J_*52U3/:?ZC"Y+=Z(GT2OH/?09-24U3S6A6JU:
MO]J\NHYZB'J>>JOZ(PV"!D,C5J-,HUMC1E-5TU<S5[-9\[X67HNA%:^U3ZM7
M:TY;1SM,>YMVA_:DCIR.ETZ.3K/.0UVRKH-NFFZ=[FT]C!Y#+U'O@-Y-?5C?
M0C]>OTK_A@%L8&G`-3A@,+`4O=1Z*6]IW=)A0Y*ADV&&8;/AJ!'-R,<HSZC#
MZ(6QIG&$\6[C7N-/)A8F22;U)@],94Q7F.:9=IG^:J9OQC*K,KMM3C9W-]]H
MWFG^<IG!,LZR@\ON6E`L?"VV671;?+2TLN1;MEA.66E:15M56PTSJ`Q_1C'C
MBC7:VMEZH_5IZW<VEC8"FQ,VO]@:VB;:-ME.+M=9SEE>OWS,3MV.:5=K-V)/
MMX^V/V0_XJ#FP'2H<WCBJ.'(=FQPG'#2<TIP.N;TPMG$F>_<YCSG8N.RWN6\
M*^+JX5KHVN\FXQ;B5NGVV%W=/<Z]V7W&P\)CG<=Y3[2GM^=NSV$O92^65Z/7
MS`JK%>M7]'B3O(.\*[V?^.C[\'VZ?&'?%;Y[?!^NU%K)6]GA!_R\_/;X/?+7
M\4_S_SX`$^`?4!7P--`T,#>P-X@2%!74%/0FV#FX)/A!B&Z(,*0[5#(T,K0Q
M="[,-:PT;&25\:KUJZZ'*X1SPSLCL!&A$0T1LZO=5N]=/1YI$5D0.;1&9TW6
MFJMK%=8FK3T3)1G%C#H9C8X.BVZ*_L#T8]8Q9V.\8JIC9E@NK'VLYVQ'=AE[
MBF/'*>5,Q-K%EL9.QMG%[8F;BG>(+X^?YKIP*[DO$SP3:A+F$OT2CR0N)(4E
MM2;CDJ.33_%D>(F\GA25E*R4@52#U(+4D32;M+UI,WQO?D,ZE+XFO5-`%?U,
M]0EUA5N%HQGV&549;S-#,T]F26?QLOJR];-W9$_DN.=\O0ZUCK6N.U<M=W/N
MZ'JG];4;H`TQ&[HW:FS,WSB^R6/3T<V$S8F;?\@SR2O->[TE;$M7OG+^IORQ
MK1Y;FPLD"O@%P]MLM]5L1VWG;N_?8;YC_XY/A>S":T4F1>5%'XI9Q=>^,OVJ
MXJN%G;$[^TLL2P[NPNSB[1K:[;#[:*ET:4[IV![?/>UE]++"LM=[H_9>+5]6
M7K./L$^X;Z3"IZ)SO^;^7?L_5,97WJERKFJM5JK>43UW@'U@\*#CP98:Y9JB
MFO>'N(?NUGK4MM=IUY4?QAS../RT/K2^]VO&UXT-"@U%#1^/\(Z,'`T\VM-H
MU=C8I-14T@PW"YNGCD4>N_F-ZS>=+88MM:VTUJ+CX+CP^+-OH[\=.N%]HOLD
MXV3+=UK?5;=1V@K;H?;L]IF.^(Z1SO#.@5,K3G5WV7:U?6_T_9'3:J>KSLB>
M*3E+.)M_=N%<SKG9\ZGGIR_$71CKCNI^<''5Q=L]`3W]E[PO7;GL?OEBKU/O
MN2MV5TY?M;EZZAKC6L=UR^OM?19];3]8_-#6;]G??L/J1N=-ZYM=`\L'S@XZ
M#%ZXY7KK\FVOV]?OK+PS,!0R='<X<GCD+OONY+VD>R_O9]R??[#I(?IAX2.I
M1^6/E1[7_:CW8^N(Y<B94=?1OB=!3QZ,L<:>_Y3^TX?Q_*?DI^43JA.-DV:3
MIZ?<IVX^6_UL_'GJ\_GI@I^E?ZY^H?OBNU\<?^F;634S_I+_<N'7XE?RKXZ\
M7O:Z>]9_]O&;Y#?S<X5OY=\>?<=XU_L^[/W$?.8'[(>*CWH?NSYY?WJXD+RP
M\)L``P#WA//["@T*96YD<W1R96%M#65N9&]B:@TV.2`P(&]B:@T\/"]3=&5M
M5B`X,B]&;VYT3F%M92]4:6UE<TYE=U)O;6%N4%--5"]&;VYT4W1R971C:"].
M;W)M86PO1F]N=%=E:6=H="`T,#`O1FQA9W,@,S0O1&5S8V5N="`M,C$V+T9O
M;G1"0F]X6RTU-C@@+3,P-R`R,#`P(#$P,#==+T%S8V5N="`X.3$O1F]N=$9A
M;6EL>2A4:6UE<R!.97<@4F]M86XI+T-A<$AE:6=H="`V-38O6$AE:6=H="`M
M-30V+U1Y<&4O1F]N=$1E<V-R:7!T;W(O271A;&EC06YG;&4@,#X^#65N9&]B
M:@TW,"`P(&]B:@T\/"]3=&5M5B`Q,S8O1F]N=$YA;64O5&EM97-.97=2;VUA
M;E!3+4)O;&1-5"]&;VYT4W1R971C:"].;W)M86PO1F]N=%=E:6=H="`W,#`O
M1FQA9W,@,S0O1&5S8V5N="`M,C$V+T9O;G1"0F]X6RTU-3@@+3,P-R`R,#`P
M(#$P,C9=+T%S8V5N="`X.3$O1F]N=$9A;6EL>2A4:6UE<R!.97<@4F]M86XI
M+T-A<$AE:6=H="`V-38O6$AE:6=H="`M-30V+U1Y<&4O1F]N=$1E<V-R:7!T
M;W(O271A;&EC06YG;&4@,#X^#65N9&]B:@TW,2`P(&]B:@T\/"]3=&5M5B`W
M,2XW-#(O1F]N=$YA;64O5&EM97-.97=2;VUA;E!3+4ET86QI8TU4+T9O;G13
M=')E=&-H+TYO<FUA;"]&;VYT5V5I9VAT(#0P,"]&;&%G<R`Y."]$97-C96YT
M("TR,38O1F]N=$)";WA;+30Y."`M,S`W(#$Q,C`@,3`R,UTO07-C96YT(#@Y
M,2]&;VYT1F%M:6QY*%1I;65S($YE=R!2;VUA;BDO0V%P2&5I9VAT(#8U-B]8
M2&5I9VAT("TU-#8O5'EP92]&;VYT1&5S8W)I<'1O<B])=&%L:6-!;F=L92`M
M,34^/@UE;F1O8FH--S(@,"!O8FH-/#PO3U!-(#$O3U`@9F%L<V4O;W`@9F%L
M<V4O5'EP92]%>'1'4W1A=&4O4T$@9F%L<V4O4TT@,"XP,CX^#65N9&]B:@TQ
M(#`@;V)J#3P\+T9I<G-T(#(@,"!2+T-O=6YT(#$O3&%S="`R(#`@4B]4>7!E
M+T]U=&QI;F5S/CX-96YD;V)J#3(@,"!O8FH-/#PO4&%R96YT(#$@,"!2+T$@
M,R`P(%(O5&ET;&4H_O\`5P!E`"``:`!A`'8`90`@`&,`;P!M`'``;`!E`'0`
M90!D`"``;P!U`'(`(`!R`&4`=@!I`&4`=P`@`&\`9@`@`'D`;P!U`'(`(`!&
M`&\`<@!M`"``,0`P`"T`2P`@`&$`;@!D`"``<@!E`&P`80!T`&4`9``@`&8`
M:0!L`&D`;@!G`',`(`!A`&X`9``@`&@`80!V`&4`(`!N`&\`(`!F`'4`<@!T
M`&@`90!R`"``8P!O`&T`;0!E`&X`=`!S`"``80!T`"``=`!H`&D`<P`@`'0`
M:0!M`&4`+BD^/@UE;F1O8FH-,R`P(&]B:@T\/"]$6S8R(#`@4B]865H@,3(V
M(#,V,"!N=6QL72]3+T=O5&\^/@UE;F1O8FH--"`P(&]B:@T\/"]&:7)S="`S
M.3$O3&5N9W1H(#DT,2]&:6QT97(O1FQA=&5$96-O9&4O3B`U,"]4>7!E+T]B
M:E-T;3X^<W1R96%M#0IXVNQ636_;1A#M3UF@EQ1PLCO[11((`CA*C+J./V`I
MR,'(@;;6*E&)%"BRB/]]WG(DVU)25)LX2`\]B*/AOGDSG#?<)2FA!)$@I05I
M88I,D!&6O"`K,BH$.9%[>%X4!9!8)N`H!]K@-@#&%4)CR>9&:#!YY84&)#-*
M:`,(XK0%Q.+B8'/@`2$#/X/-X.<(B2#\U;X00R@J,`0+?J-!H>`CA;7P(U7T
MP>?B.OB\<L*`SSL2!GP>SV+`EUD\$/@RY+7@RQ%DP9?G)+"D"P3'THH"/B@4
M2*R'Q?-84!"*LCELAKA8"HIS"B6@-3&5]20<6N=4)IR!Q<7%THI"./!YD#KP
M>?`[\&7@=^#+P!]+SU'LRY?R),J@Q*6\*-M0=Y,VA*C(]IVS\*D["7>"Y&4S
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MY-MZ6C==P`U<CB#Q@_>^GH;V(?OOH9Q6]>Q7K>A@TI95S<YI6??E''_6ZP>C
M9K'`:*T.'@7@5_>+Z]"&*7*BON-8X+$\:LM%&`J*X-!B<:L;>")&<@>'HJ^(
M92"6@5@&8C$UBZF)17FBFN..%:7E(@47,)2$SMR$P]L.=\T+-;3X<%[-($Y7
MMIT\QQC<10$^M%4'WM-F&N2[=G+-@:_#;=/&5W(=>HR.UQUF'CZ$6;L*WD#W
MX._F5M^<6VVG5M^7^8]^U56W=S\E]W<\]4]L^+^DCLL_++?6_Y$Y>V[=UW+_
M?ZY<?D3_#]<;CAQMMNT3H>)Y0^OS9K.9SX37]SO3?10^`E+`.@5L4L`V!>Q2
MP#X%G*6`\Q1PL3]XM#GPH,Z6EIMS<#<LVYT`2E*5]#Y)[M$F"9TD+"4I2TG2
M4I*VM)>X^1>-WTOF8C=,J_W#@*8D=-)+JY/>6KV/NOS9M?6X>\GL'KT,3_%M
MB;Q^=W2?Y)OU'[N3-'$Z:3O11=)6G'0DF*3=PZ0="DGS9?::+]J=+Y,P7T#_
MZ*GX+,``WJQIP`T*96YD<W1R96%M#65N9&]B:@TU(#`@;V)J#3P\+TYU;7-;
M,"`V(#`@4ET^/@UE;F1O8FH--B`P(&]B:@T\/"]3+T0^/@UE;F1O8FH--R`P
M(&]B:@T\/"]#;W5N="`Q+U1Y<&4O4&%G97,O2VED<ULV,B`P(%)=/CX-96YD
M;V)J#3@@,"!O8FH-/#PO4W5B='EP92]834PO3&5N9W1H(#0P,3,O5'EP92]-
M971A9&%T83X^<W1R96%M#0H\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U
M33!-<$-E:&E(>G)E4WI.5&-Z:V,Y9"(_/@H\>#IX;7!M971A('AM;&YS.G@]
M(F%D;V)E.FYS.FUE=&$O(B!X.GAM<'1K/2)!9&]B92!835`@0V]R92`T+C`M
M8S,Q-B`T-"XR-3,Y,C$L(%-U;B!/8W0@,#$@,C`P-B`Q-SHQ-#HS.2(^"B`@
M(#QR9&8Z4D1&('AM;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P
M,B\R,BUR9&8M<WEN=&%X+6YS(R(^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@
M<F1F.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.G!D9CTB:'1T<#HO+VYS
M+F%D;V)E+F-O;2]P9&8O,2XS+R(^"B`@("`@("`@(#QP9&8Z4')O9'5C97(^
M06-R;V)A="!$:7-T:6QL97(@."XQ+C`@*%=I;F1O=W,I/"]P9&8Z4')O9'5C
M97(^"B`@("`@(#PO<F1F.D1E<V-R:7!T:6]N/@H@("`@("`\<F1F.D1E<V-R
M:7!T:6]N(')D9CIA8F]U=#TB(@H@("`@("`@("`@("!X;6QN<SIP9&9X/2)H
M='1P.B\O;G,N861O8F4N8V]M+W!D9G@O,2XS+R(^"B`@("`@("`@(#QP9&9X
M.D-O;7!A;GD^4T5#/"]P9&9X.D-O;7!A;GD^"B`@("`@("`@(#QP9&9X.E-O
M=7)C94UO9&EF:65D/D0Z,C`P.#`Q,#0Q.#`T,#8\+W!D9G@Z4V]U<F-E36]D
M:69I960^"B`@("`@(#PO<F1F.D1E<V-R:7!T:6]N/@H@("`@("`\<F1F.D1E
M<V-R:7!T:6]N(')D9CIA8F]U=#TB(@H@("`@("`@("`@("!X;6QN<SIX87`]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"\B/@H@("`@("`@("`\>&%P
M.D-R96%T;W)4;V]L/D%C<F]B870@4$1&36%K97(@."XQ(&9O<B!7;W)D/"]X
M87`Z0W)E871O<E1O;VP^"B`@("`@("`@(#QX87`Z36]D:69Y1&%T93XR,#`X
M+3`Q+3`T5#$S.C$P.C`X+3`U.C`P/"]X87`Z36]D:69Y1&%T93X*("`@("`@
M("`@/'AA<#I#<F5A=&5$871E/C(P,#@M,#$M,#14,3,Z,3`Z,#0M,#4Z,#`\
M+WAA<#I#<F5A=&5$871E/@H@("`@("`@("`\>&%P.DUE=&%D871A1&%T93XR
M,#`X+3`Q+3`T5#$S.C$P.C`X+3`U.C`P/"]X87`Z365T861A=&%$871E/@H@
M("`@("`\+W)D9CI$97-C<FEP=&EO;CX*("`@("`@/')D9CI$97-C<FEP=&EO
M;B!R9&8Z86)O=70](B(*("`@("`@("`@("`@>&UL;G,Z>&%P34T](FAT='`Z
M+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]M;2\B/@H@("`@("`@("`\>&%P34TZ
M1&]C=6UE;G1)1#YU=6ED.F,S9#)C,6%C+6(T,#`M-&1B,2TX-V4P+3,W,3<Y
M,3(V.3<T9#PO>&%P34TZ1&]C=6UE;G1)1#X*("`@("`@("`@/'AA<$U-.DEN
M<W1A;F-E240^=75I9#HY.&1F,6$T-BUA8S5C+31B86(M86)E,RTX.#0T83<P
M.&4Y-V(\+WAA<$U-.DEN<W1A;F-E240^"B`@("`@("`@(#QX87!-33IS=6)J
M96-T/@H@("`@("`@("`@("`\<F1F.E-E<3X*("`@("`@("`@("`@("`@/')D
M9CIL:3XS/"]R9&8Z;&D^"B`@("`@("`@("`@(#PO<F1F.E-E<3X*("`@("`@
M("`@/"]X87!-33IS=6)J96-T/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*
M("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@("`@("`@
M("`@>&UL;G,Z9&,](FAT='`Z+R]P=7)L+F]R9R]D8R]E;&5M96YT<R\Q+C$O
M(CX*("`@("`@("`@/&1C.F9O<FUA=#YA<'!L:6-A=&EO;B]P9&8\+V1C.F9O
M<FUA=#X*("`@("`@("`@/&1C.F-R96%T;W(^"B`@("`@("`@("`@(#QR9&8Z
M4V5Q/@H@("`@("`@("`@("`@("`\<F1F.FQI/F-O;FYE;&QA/"]R9&8Z;&D^
M"B`@("`@("`@("`@(#PO<F1F.E-E<3X*("`@("`@("`@/"]D8SIC<F5A=&]R
M/@H@("`@("`@("`\9&,Z=&ET;&4^"B`@("`@("`@("`@(#QR9&8Z06QT/@H@
M("`@("`@("`@("`@("`\<F1F.FQI('AM;#IL86YG/2)X+61E9F%U;'0B/DUA
M:6P@4W1O<"`T-38Q/"]R9&8Z;&D^"B`@("`@("`@("`@(#PO<F1F.D%L=#X*
M("`@("`@("`@/"]D8SIT:71L93X*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^
M"B`@(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*/#]X<&%C:V5T(&5N9#TB=R(_/@T*96YD<W1R96%M#65N9&]B:@TY
M(#`@;V)J#3P\+T-R96%T:6]N1&%T92A$.C(P,#@P,3`T,3,Q,#`T+3`U)S`P
M)RDO075T:&]R*&-O;FYE;&QA*2]#<F5A=&]R*$%C<F]B870@4$1&36%K97(@
M."XQ(&9O<B!7;W)D*2]0<F]D=6-E<BA!8W)O8F%T($1I<W1I;&QE<B`X+C$N
M,"!<*%=I;F1O=W-<*2DO36]D1&%T92A$.C(P,#@P,3`T,3,Q,#`X+3`U)S`P
M)RDO0V]M<&%N>2A314,I+U-O=7)C94UO9&EF:65D*$0Z,C`P.#`Q,#0Q.#`T
M,#8I+U1I=&QE*$UA:6P@4W1O<"`T-38Q*3X^#65N9&]B:@UX<F5F#0HP(#8P
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#<S,S0@,#`P,#`@;@T*,#`P
M,#`P-S,Y.2`P,#`P,"!N#0HP,#`P,#`W-C8X(#`P,#`P(&X-"C`P,#`P,#<W
M,C(@,#`P,#`@;@T*,#`P,#`P.#<U.2`P,#`P,"!N#0HP,#`P,#`X-SDS(#`P
M,#`P(&X-"C`P,#`P,#@X,3<@,#`P,#`@;@T*,#`P,#`P.#@V.2`P,#`P,"!N
M#0HP,#`P,#$R.34Y(#`P,#`P(&X-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U
M-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F
M#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P,#`@-C4U,S4@9@T*,#`P
M,#`P,#`P,"`V-34S-2!F#0HP,#`P,#`P,#`P(#8U-3,U(&8-"C`P,#`P,#`P
M,#`@-C4U,S4@9@T*,#`P,#`P,#`P,"`V-34S-2!F#0IT<F%I;&5R#0H\/"]3
A:7IE(#8P/CX-"G-T87)T>')E9@T*,3$V#0HE)45/1@T*
`
end
</PDF>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----