Mr. John Moran:

It is unfair. Our revenue halved and we did not earn €2.8 million in portfolio fees from NAMA. That is inaccurate. We do not segregate where we earn our money from and we report normally. Our accounts are publicly available. No one who wrote that book consulted with us about the level of fee income we earned. Like every other agent in Dublin, we earned fees from NAMA. We are not advisers to them and NAMA takes its own advice and has its own team. At the moment, our role is now is to implement what it asks us to do.