Ms Julie Sinnamon:

The article in The Irish Timeswas on the board members' interests. I am one of those board members. I am on the board of DIT and we put funding into DIT. We have board member salaries. We have a board member who is on CIT - all the funding we put into CIT is in there. We also have a board member who is on the board of Glanbia and we have supported Glanbia. We have a board member on the board of The Irish Timesand we have put some funding into The Irish Times.

The Glanbia investment is the first greenfield dairy processing investment to be built in Ireland in 40 years. It is one we were delighted to have been able to support and to ensure that was won for Ireland as opposed to elsewhere. That is the rationale in that respect. The board members involved would not be there for any of those discussions. The Glanbia board member has shares in Glanbia and therefore he was excluded. He did not realise until he read it in a newspaper that they had even been in discussions with us. There are Chinese walls in operation; there was no question of the board members being involved in those decisions.