Mr. Patrick Long:

At the heart of our role on Project Eagle was the sale, that is, the conduct of a sale process. On all of the loan portfolio sales on which Lazard has worked and in which I, personally, have been involved, that is really the core function that our client has invited us to undertake.

On Project Isobel there was more preparatory work than there was with Project Eagle. We also advised Commerzbank on the sale of a portfolio in Spain that was codenamed Project-----