Mr. Declan Reid:

Everybody in that meeting knew that PIMCO had made an approach and was the only current interested party. The misinterpretation arises in so far as we were stressing that to move forward with the process NAMA would have to open this process up and bring in other bidders. So there was an acknowledgement that at that time PIMCO was the only bidder but it was not, I guess, an indication that that would continue to be the case.