Mr. Patrick Long:

As I said earlier, there was competitive tension throughout the process and while it is true that some investors declined to participate, for a host of reasons, including, in certain cases and at some level, the nature of the process, at the same time Cerberus and Fortress accepted the way the process worked and Cerberus bid a price in excess of NAMA's reserve price, which NAMA was happy to accept. Ultimately, the process was successful. The fact that certain parties did not meet NAMA's criteria and, as such, were not included in the process, is not especially relevant in light of the outcome. As I said earlier, we were trying to ensure the leading bidders were as motivated as possible. The leading bidders accepted the way the process worked, hence the outcome.