Mr. Frank Daly:

Footnote 1 states, "NAMA has stated that the context for this question [about other options] was the conference call on 10 March during which PIMCO said that if its disclosure was an issue was an issue for NAMA, PIMCO would need to consider if the transaction could be progressed without the proposed recipients of the success fee. It was PIMCO which started the conversation about whether there was another one. Footnote 2 states:

NAMA has provided the following context which was not set out in the contemporaneous notes. The NAMA Head of Legal thanked PIMCO for bringing the matter to NAMA's attention and expressed disappointment only to the extent that what had been disclosed by PIMCO had effectively made PIMCO's withdrawal inevitable.