Mr. Terence O'Rourke:

As a firm, I think we understood what NAMA was doing. NAMA was acquiring the loans on a very specified basis. They went through that process and all the audits that have been done of NAMA since have not shown anything to show that that valuation ... on that special basis ... it was a particular basis that NAMA took over the loans on ... and it seemed that they acquired the loans on that basis, properly.