Mr. Kieran Wallace:

That is categorically not the case from the information we have seen in respect of the valuations that have been placed on the assets and the bids that have come in. In particular, one gains a great deal of insight when one sees bids coming in from multiple parties on the same asset. This gives one a very good indication as to whether the value range for the assets in question was appropriate. This is something we are very conscious of in respect of each of the loan sales we do. As I stated, and this is as true of the loans we sell to third parties as it is of the mortgage book, it is of vital importance that we secure the best value for taxpayers and the creditors of IBRC. From the information we have seen to date in this process-----