Ms Marie Hunt:

I would not relate it to the health of the market. At that particular point in time, when we look at who was doing the sale and leasebacks, invariably some of it was coming from the domestic banks. I do not think it was a conscious decision to get out because the market looked like it was turning. I think it was simply an effort to generate more liquidity which, in turn, they rolled out into more lending. I do not think it was a conscious decision. Some people will speculate and say it was the banks getting out of the Irish market because they could see what was coming down the tracks. I think it is clear that that is not correct and that it was simply a decision to get out of real estate and to get equity in and to concentrate on their core business.