Mr. Alan Stewart:

That evening there was a call with PIMCO again. I think we may have missed a call from it and we were returning it that evening at 5 p.m. In that call PIMCO expressed its disappointment that disclosures of interest, which it thought would have been made, had not been made. Its people went on to say that it was willing to withdraw completely from the process. That is how it was put, that it was willing to withdraw. Then there was a query about whether it had considered other options. This was reference back, and I am quite clear about this, to what had been said in the 10 March call where PIMCO had referenced the possibility that it would need to consider with the business - that if this was an issue for NAMA it would explore other options. That is what Mr. Hanna referred to when he said, "Have you considered other options?".