Mr. John Collison:

We were, I suppose, very focused on ensuring that the sale completed, and completed successfully. We certainly discussed this with Lazard in terms of PIMCO's withdrawal. We were very, very concerned about whether there was still sufficient competitive tension within the process. In actual fact, in some of those discussions Lazard was of the view that because the original party, who made the reverse inquiry, was now no longer in the sales process, there was an argument that the two remaining bidders would be even more highly motivated to actually try and acquire this portfolio. So, there was certainly a lot of discussion around the competitive tension and whether that still remained. We were satisfied, on the back of Lazard's advices, that that still was there and ultimately got us to a point where we exceeded the reserve price.