Mr. John Collison:

The minutes of that meeting are on pages 108 and 109. The head of asset recovery presented that paper to the board. The footnote of the minutes refers to the head of asset recovery and the deputy head of asset recovery having also attended for that item. I also attended. Mr. Ronnie Hanna was head of asset recovery at the time and he would have presented the paper. There was considerable discussion of this particular transaction at the time, as one would expect. A lot of the focus was on PIMCO and its request for off-market. There was also a fair bit of discussion around the value of the portfolio. We were at the time approaching year end and we would have been in the midst of our impairment exercise at that stage. I appreciate that some of this information is only just being provided but we were able to substantiate the valuations on a huge number of the assets.