Mr. John Collison:

Yes, I would have met PIMCO initially. PIMCO submitted its initial expression of interest on 9 September. A meeting was set up with PIMCO, attended by a member of its senior management team and an adviser from Brown Rudnick. I attended that meeting along with the head of asset recovery at the time. That was the initial engagement where PIMCO expressed its interest in the portfolio. Then there was a follow on meeting which took place towards the end of October. Again, PIMCO was re-confirming that it was very interested in proceeding. It wanted to progress the sale on the basis of exclusivity. PIMCO was proposing that it would be an off-market transaction which we told them, right from the start, we would have difficulties with and that our policy was to openly market. There certainly were two meetings that I attended with PIMCO at that time. There would have been further engagement with the company by e-mail thereafter. PIMCO then submitted a non-binding bid but with more substance behind it on 4 December. That was submitted in writing and that was the basis for the proposal that went to the board of NAMA.