Mr. Frank Treacy:

I might clarify a point. I do not believe Mr. Barnhart meant to infer it, but Teranet would not own the Land Registry or the land registration system. Rather, it would feed into that system and use our information. To date, all developments in the registry have been done in-house and without outside assistance. This is how we view the situation continuing for the time being. However, we will co-operate fully in any e-conveyancing project.