Mr. Jim Nugent:

Considerable examination was carried out by the advisers and actuarial people on the pension side and in their best professional view of it we had been advised at the time that the €3 million could be earned back up within the pension fund. At the time the Irish Pensions Board indicated that the shortfall had to be made up we had only two choices. We could go to a bank and borrow money at excessive cost, if we could get it, which was highly unlikely that there would have been money around for that given the period we are talking about. Secondly, we had our own reserve funds through the friends and it was decided to use our own funds out of the friends to meet this compulsory requirement and protect the employees' pension funds. More than 70 people are involved. We are told that as of now, this defined-benefit pension fund is performing well and that we are on track to repaying that €3 million.