Mr. John Corrigan:

We would have discussed whether we would abandon the process but we decided to press ahead with it. If we consider it as a bulk sale, all of the players that we believed were relevant had, on Lazard's advice, been invited into the competition. As discussed earlier, the alternative was to go back and examine the portfolio and to sell it on a piecemeal basis. However, we did not believe that would have been a good decision. To go back to my earlier point, perhaps the minutes should have reflected that in terms of the colour I spoke about but I certainly know that it was discussed, that we said that the bulk sale was a superior strategy for all of the reasons Mr. Mulcahy mentioned earlier and that we would press ahead with it.