Mr. David Duffy:

We do not know if it is sufficient provision yet. It will take years to understand whether the provision is adequate. We are looking at having to continue to provide this year, on top of provisioning, and we anticipate the need for more provisions over the next few years. We need to be able provide for write-offs and growth capital and need to meet our regulatory hurdles and provide for Basel III. These four issues are an enormous influence on our capital base.

Mr. Stanley will now respond on the issue of the property portfolio.