Mr. John Corrigan:

The initial telephone call was from our side. State Street states - I have only at this point in time the bank's account of what happened - it was following up various internal investigations at the request of the UK Financial Services Authority, FSA, which regulates it and that any delay in notifying clients was accounted for by their giving attention to the internal investigation requested by the FSA. The first contact was by us.

State Street has refunded us the amount improperly taken, but we have taken that refund without prejudice. As far as we are concerned, the matter is not closed. The issue is being investigated by the FSA in the United Kingdom. As of now, we only have the ex parte account of the bank of what happened and have reserved our position until we see where the FSA lands on this question.