- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
November 29 2010 - 4:31PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment
Company Act file number
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811-08238
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MORGAN
STANLEY INDIA INVESTMENT FUND, INC.
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(Exact name of registrant as specified in charter)
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522 Fifth Avenue, New York, New York
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10036
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(Address of principal executive offices)
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(Zip code)
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Sara Furber
522 Fifth Avenue, New York, New York 10036
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(Name and address of agent for service)
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Registrants
telephone number, including area code:
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212-296-6963
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Date of
fiscal year end:
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12/31
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Date of
reporting period:
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9/30/10
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Item 1. Schedule of
Investments.
The
Funds schedule of investments as of the close of the reporting period prepared
pursuant to Rule 12-12 of Regulation S-X is as follows:
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2010 Third Quarter Report
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September 30, 2010
(unaudited)
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Portfolio of Investments
MS India Investment Fund, Inc.
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Shares
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|
Value
(000)
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|
Common
Stocks (98.0%)
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|
|
|
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|
Airlines
(1.3%)
|
|
|
|
|
|
SpiceJet
Ltd. (a)
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|
4,994,091
|
|
$
|
8,313
|
|
|
|
|
|
|
|
Auto
Components (0.0%)
|
|
|
|
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Apollo
Tyres Ltd.
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|
18,750
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|
34
|
|
|
|
|
|
|
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Automobiles
(2.5%)
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|
|
|
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Bajaj
Auto Ltd.
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505,000
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|
16,519
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Hero
Honda Motors Ltd.
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1,185
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|
49
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|
Patheja
Forgings & Auto Parts Manufactures Ltd. (a)(b)(c)
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450,000
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|
|
|
|
|
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|
16,568
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Chemicals
(2.2%)
|
|
|
|
|
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Akzo
Nobel India Ltd.
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|
25,000
|
|
516
|
|
Asian
Paints Ltd.
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118,258
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|
7,009
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|
Coromandel
International Ltd.
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499,500
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6,833
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|
|
|
|
|
14,358
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|
Commercial
Banks (20.1%)
|
|
|
|
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Bank
of Baroda
|
|
469,893
|
|
9,448
|
|
HDFC
Bank Ltd.
|
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964,569
|
|
53,436
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|
ICICI
Bank Ltd.
|
|
551,600
|
|
13,662
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|
IndusInd
Bank Ltd.
|
|
3,645,291
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|
21,571
|
|
Punjab
National Bank Ltd.
|
|
181,000
|
|
5,782
|
|
State
Bank of India
|
|
285,902
|
|
20,617
|
|
Yes
Bank Ltd.
|
|
1,002,132
|
|
7,809
|
|
|
|
|
|
132,325
|
|
Construction &
Engineering (5.1%)
|
|
|
|
|
|
Gammon
India Ltd.
|
|
2,160,800
|
|
10,587
|
|
Hindustan
Construction Co.
|
|
1,560,770
|
|
2,044
|
|
Larsen &
Toubro Ltd.
|
|
339,040
|
|
15,491
|
|
Voltas
Ltd.
|
|
1,076,227
|
|
5,844
|
|
|
|
|
|
33,966
|
|
Containers &
Packaging (0.9%)
|
|
|
|
|
|
Ess
Dee Aluminium Ltd.
|
|
549,519
|
|
6,037
|
|
|
|
|
|
|
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Diversified
Financial Services (4.1%)
|
|
|
|
|
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Infrastructure
Development Finance Co. Ltd.
|
|
3,352,860
|
|
15,128
|
|
Rural
Electrification Corp. Ltd.
|
|
1,548,977
|
|
12,134
|
|
|
|
|
|
27,262
|
|
Electric
Utilities (3.0%)
|
|
|
|
|
|
KSK
Energy Ventures Ltd. (a)
|
|
2,948,000
|
|
11,409
|
|
Reliance
Infrastructure Ltd.
|
|
347,500
|
|
8,268
|
|
Torrent
Power Ltd.
|
|
62,120
|
|
448
|
|
|
|
|
|
20,125
|
|
Electronic
Equipment, Instruments & Components (1.1%)
|
|
|
|
|
|
Redington
India Ltd.
|
|
3,615,000
|
|
7,285
|
|
|
|
|
|
|
|
|
|
2010 Third Quarter Report
|
|
|
|
September 30, 2010
(unaudited)
|
Portfolio of Investments (contd)
MS India Investment Fund, Inc.
|
|
Shares
|
|
Value
(000)
|
|
Food
Products (4.2%)
|
|
|
|
|
|
KS
Oils Ltd.
|
|
4,394,323
|
|
$
|
4,743
|
|
McLeod
Russel India Ltd.
|
|
795,000
|
|
4,123
|
|
Nestle
India Ltd.
|
|
160,884
|
|
12,110
|
|
Shree
Renuka Sugars Ltd.
|
|
3,474,325
|
|
6,800
|
|
|
|
|
|
27,776
|
|
Independent
Power Producers & Energy Traders (1.8%)
|
|
|
|
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GMR
Infrastructure Ltd. (a)
|
|
6,218,800
|
|
7,861
|
|
Jaiprakash
Power Ventures Ltd. (a)
|
|
2,624,000
|
|
3,720
|
|
|
|
|
|
11,581
|
|
Information
Technology Services (9.4%)
|
|
|
|
|
|
Infosys
Technologies Ltd.
|
|
544,621
|
|
36,973
|
|
Tata
Consultancy Services Ltd.
|
|
862,761
|
|
17,797
|
|
Wipro
Ltd.
|
|
738,513
|
|
7,387
|
|
|
|
|
|
62,157
|
|
Machinery
(11.1%)
|
|
|
|
|
|
AIA
Engineering Ltd.
|
|
951,182
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|
8,467
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|
Ashok
Leyland Ltd.
|
|
6,220,284
|
|
9,980
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|
Cummins
India Ltd.
|
|
435,000
|
|
7,123
|
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Tata
Motors Ltd.
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1,645,378
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|
40,209
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Thermax
Ltd.
|
|
404,738
|
|
7,211
|
|
|
|
|
|
72,990
|
|
Media
(7.2%)
|
|
|
|
|
|
Deccan
Chronicle Holdings Ltd.
|
|
4,252,924
|
|
12,304
|
|
IBN18
Broadcast Ltd. (a)
|
|
300,542
|
|
816
|
|
Sun
TV Network Ltd.
|
|
2,250,368
|
|
25,992
|
|
Television
Eighteen India Ltd. (a)
|
|
4,170,972
|
|
8,498
|
|
|
|
|
|
47,610
|
|
Metals &
Mining (5.3%)
|
|
|
|
|
|
Hindalco
Industries Ltd.
|
|
3,680,450
|
|
16,139
|
|
Hindustan
Zinc Ltd.
|
|
361,360
|
|
8,676
|
|
Usha
Martin Ltd.
|
|
5,223,700
|
|
10,114
|
|
|
|
|
|
34,929
|
|
Multiline
Retail (1.2%)
|
|
|
|
|
|
Future
Mall Managment Ltd. (a)(c)
|
|
33,235
|
|
179
|
|
Pantaloon
Retail India Ltd.
|
|
664,719
|
|
7,751
|
|
|
|
|
|
7,930
|
|
Oil,
Gas & Consumable Fuels (4.7%)
|
|
|
|
|
|
Reliance
Industries Ltd.
|
|
1,408,010
|
|
30,935
|
|
|
|
|
|
|
|
|
|
2010 Third Quarter Report
|
|
|
|
September 30, 2010
(unaudited)
|
Portfolio of Investments (contd)
MS India Investment Fund, Inc.
|
|
Shares
|
|
Value
(000)
|
|
Pharmaceuticals
(8.0%)
|
|
|
|
|
|
Aurobindo
Pharma Ltd.
|
|
373,755
|
|
$
|
8,634
|
|
Dr. Reddys
Laboratories Ltd.
|
|
722,907
|
|
23,194
|
|
Glenmark
Pharmaceuticals Ltd.
|
|
2,499,500
|
|
16,673
|
|
Ranbaxy
Laboratories Ltd. (a)
|
|
372,333
|
|
4,608
|
|
|
|
|
|
53,109
|
|
Real
Estate Management & Development (0.9%)
|
|
|
|
|
|
Phoenix
Mills Ltd.
|
|
1,112,831
|
|
5,625
|
|
|
|
|
|
|
|
Tobacco
(3.9%)
|
|
|
|
|
|
ITC
Ltd.
|
|
6,481,400
|
|
25,718
|
|
Total
Common Stocks (Cost $483,633)
|
|
|
|
646,633
|
|
|
|
|
|
|
|
Short-Term
Investment (0.4%)
|
|
|
|
|
|
|
|
|
|
|
|
Investment
Company (0.4%)
|
|
|
|
|
|
Morgan
Stanley Institutional Liquidity Funds - Money Market Portfolio -
Institutional Class (d)
(Cost $2,653)
|
|
2,652,734
|
|
2,653
|
|
Total
Investments (98.4%) (Cost $486,286)
|
|
|
|
649,286
|
|
Other
Assets in Excess of Liabilities (1.6%)
|
|
|
|
10,372
|
|
Net
Assets (100.0%)
|
|
|
|
$
|
659,658
|
|
(a)
Non-income
producing security.
(b)
At September 30,
2010, the Fund held approximately $0 of fair valued securities, representing
0.0% of net assets. These securities have been fair valued as determined in
good faith under procedures established by and under the general supervision of
the Funds Directors.
(c)
Security has
been deemed illiquid at September 30, 2010.
(d)
The Fund
invests in the Morgan Stanley Institutional Liquidity Funds - Money Market
Portfolio - Institutional Class (the Liquidity Fund), an open-end
management investment company managed by the Investment Adviser. Investment
advisory fees paid by the Fund are reduced by an amount equal to the advisory
and administrative service fees paid by the Liquidity Fund with respect to
assets invested by the Fund in the Liquidity Fund.
|
2010
Third Quarter Report
|
|
|
|
September 30,
2010 (unaudited)
|
|
|
Portfolio
of Investments
|
|
|
|
MS India Investment
Fund, Inc.
|
|
Fair Value
Measurement Information:
The following is a summary of the inputs used
to value the Portfolios net assets as of September 30, 2010. (See Notes
to the Portfolio of Investments for further information regarding fair value
measurement.)
Investment Type
|
|
Level 1
Quoted
prices
(000)
|
|
Level 2
Other
significant
observable
inputs
(000)
|
|
Level 3
Significant
unobservable
inputs
(000)
|
|
Total
(000)
|
|
Common
Stocks
|
|
|
|
|
|
|
|
|
|
Airlines
|
|
$
|
8,313
|
|
$
|
|
|
$
|
|
|
$
|
8,313
|
|
Auto
Components
|
|
|
|
34
|
|
|
|
34
|
|
Automobiles
|
|
16,568
|
|
|
|
|
|
16,568
|
|
Chemicals
|
|
14,358
|
|
|
|
|
|
14,358
|
|
Commercial
Banks
|
|
117,095
|
|
15,230
|
|
|
|
132,325
|
|
Construction &
Engineering
|
|
33,966
|
|
|
|
|
|
33,966
|
|
Containers &
Packaging
|
|
6,037
|
|
|
|
|
|
6,037
|
|
Diversified
Financial Services
|
|
15,128
|
|
12,134
|
|
|
|
27,262
|
|
Electric
Utilities
|
|
20,125
|
|
|
|
|
|
20,125
|
|
Electronic
Equipment, Instruments & Components
|
|
7,285
|
|
|
|
|
|
7,285
|
|
Food
Products
|
|
27,776
|
|
|
|
|
|
27,776
|
|
Independent
Power Producers & Energy Traders
|
|
11,581
|
|
|
|
|
|
11,581
|
|
Information
Technology Services
|
|
62,157
|
|
|
|
|
|
62,157
|
|
Machinery
|
|
72,990
|
|
|
|
|
|
72,990
|
|
Media
|
|
47,610
|
|
|
|
|
|
47,610
|
|
Metals &
Mining
|
|
34,929
|
|
|
|
|
|
34,929
|
|
Multiline
Retail
|
|
|
|
7,930
|
|
|
|
7,930
|
|
Oil,
Gas & Consumable Fuels
|
|
30,935
|
|
|
|
|
|
30,935
|
|
Pharmaceuticals
|
|
53,109
|
|
|
|
|
|
53,109
|
|
Real
Estate Management & Development
|
|
5,625
|
|
|
|
|
|
5,625
|
|
Tobacco
|
|
25,718
|
|
|
|
|
|
25,718
|
|
Total
Common Stocks
|
|
611,305
|
|
35,328
|
|
|
|
646,633
|
|
Short-Term
Investments
|
|
|
|
|
|
|
|
|
|
Investment
Companies
|
|
2,653
|
|
|
|
|
|
2,653
|
|
Total
|
|
$
|
613,958
|
|
$
|
35,328
|
|
$
|
|
|
$
|
649,286
|
|
Transfers between investment
levels may occur as the markets fluctuate and/or the availability of data used in
an investments valuation changes. The Portfolio recognizes transfers between
the levels as of the end of the period. As of September 30, 2010,
securities with a total value of approximately $451,812,000 transferred from
Level 2 to Level 1. At December 31, 2009, the fair market value of certain
securities were adjusted due to developments which occurred between the time of
the close of the foreign markets on which they trade and the close of business
on the NYSE which resulted in their Level 2 classification.
Following is a
reconciliation of investments in which significant unobservable inputs (Level
3) were used in determining fair value.
|
|
Common Stocks (000)
|
|
Balance as of 12/31/09
|
|
|
|
Accrued discounts/premiums
|
|
|
|
Realized gain (loss)
|
|
|
|
Change in unrealized appreciation (depreciation)
|
|
|
|
Net purchases (sales)
|
|
|
|
Transfers in for Level 3
|
|
|
|
Transfers out of Level 3
|
|
|
|
Balance as of 9/30/10
|
|
$
|
|
|
The amount of total gains (losses) for the period
included in earnings attributable to the change in unrealized gains (losses)
relating to assets and liabilities still held at Level 3 at 9/30/10.
|
|
$
|
|
|
Includes a security which is valued at zero.
Notes to Portfolio of Investments (unaudited)
In
accordance with FASB ASC 820 Fair Value Measurements and Disclosure (ASC 820)
(formerly known as SFAS 157), fair value is defined as the price that the Fund
would receive to sell an investment or pay to transfer a liability in a timely
transaction with an independent buyer in the principal market, or in the
absence of a principal market the most advantageous market for the investment
or liability. ASC 820 establishes a three-tier hierarchy to distinguish between
(1) inputs that reflect the assumptions market participants would use in
valuing an asset or liability developed based on market data obtained from
sources independent of the reporting entity (observable inputs) and (2) inputs
that reflect the reporting entitys own assumptions about the assumptions
market participants would use in valuing an asset or liability developed based
on the best information available in the circumstances (unobservable inputs)
and to establish classification of fair value measurements for disclosure
purposes. Various inputs are used in determining the value of the Funds
investments. The inputs are summarized in the three broad levels listed below.
·
Level 1 quoted prices in
active markets for identical securities
·
Level 2 other significant
observable inputs (including quoted prices for similar investments, interest
rates, prepayment speeds, credit risk, etc.)
·
Level 3 significant
unobservable inputs (including each Funds own assumptions in determining the
fair value of investments)
The
inputs or methodology used for valuing securities are not necessarily an
indication of the risk associated with investing in those securities.
Security Valuation:
Securities listed on a
foreign exchange are valued at their closing price except as noted below.
Unlisted securities and listed securities not traded on the valuation date for
which market quotations are readily available are valued at the mean between
the current bid and asked prices obtained from reputable brokers. Equity
securities listed on a U.S. exchange are valued at the latest quoted sales
price on the valuation date. Equity securities listed or traded on NASDAQ, for
which market quotations are available, are valued at the NASDAQ Official
Closing Price. Debt securities purchased with remaining maturities of 60 days
or less are valued at amortized cost, unless the Board of Directors (the Directors)
determine such valuation does not reflect the securities market value, in
which case these securities will be valued at their fair value as determined by
the Directors.
All
other securities and investments for which market values are not readily
available, including restricted securities, and those securities for which it
is inappropriate to determine prices in accordance with the aforementioned
procedures, are valued at fair value as determined in good faith under
procedures adopted by the Directors, although the actual calculations may be
done by others. Factors considered in making this determination may include, but
are not limited to, information obtained by contacting the issuer, analysts, or
the appropriate stock exchange (for exchange-traded securities), analysis of
the issuers financial statements or other available documents and, if
necessary, available information concerning other securities in similar
circumstances.
Most
foreign markets close before the New York Stock Exchange (NYSE). Occasionally,
developments that could affect the closing prices of securities and other
assets may occur between the times at which valuations of such securities are
determined (that is, close of the foreign market on which the securities trade)
and the close of business on the NYSE. If these developments are expected to
materially affect the value of the securities, the valuations may be adjusted
to reflect the estimated fair value as of the close of the NYSE, as determined
in good faith under procedures established by the Directors.
Item 2. Controls and
Procedures.
(a) The
Funds principal executive officer and principal financial officer have
concluded that the Funds disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Fund in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commissions rules and forms,
based upon such officers evaluation of these controls and procedures as of a
date within 90 days of the filing date of the report.
(b)
There were no changes in the Funds internal control over financial reporting
that occurred during the registrants fiscal quarter that has materially
affected, or is reasonably likely to materially affect, the Funds internal
control over financial reporting.
Item 3. Exhibits.
(a) A
separate certification for each principal executive officer and principal
financial officer of the registrant are attached hereto.
SIGNATURES
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.
Morgan
Stanley India Investment Fund, Inc.
/s/
Sara Furber
|
|
Sara
Furber
|
|
Principal
Executive Officer
|
|
November 16,
2010
|
|
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.
/s/
Sara Furber
|
|
Sara
Furber
|
|
Principal
Executive Officer
|
|
November 16,
2010
|
|
|
|
/s/
Francis Smith
|
|
Francis
Smith
|
|
Principal
Financial Officer
|
|
November 16,
2010
|
|
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