Mr. Oliver Ellingham:

It is important to state for the record that the term "fire sale" as applied to assets is one that I would describe as a very distressed sale. We very firmly refute the fact that Project Eagle was a fire sale. A fire sale would have been down at £1 billion which would have involved a very substantial discount. In our view, £1.3 billion was the normal discount for a group of assets of this size, rather than a fire sale.