Mr. Seamus McCarthy:

It was because the team recalculated all of this cashflow. We re-performed, effectively. NAMA treated all the rent in a particular year and all the proceeds from sales as if they came in on 31 December. Unless a person is familiar with it, that does not sound like much, but it does have a significant bearing on the net present value. We calculated that this difference alone lowered the net present value by about €39 million.