Mr. Frank Daly:

I think what was agreed was that there would be generally a further discussion. The essence of what was said at the meeting on the 12th was as follows. Because the figure of £1.3 billion was being bandied about - it was in the paper - we did not make a decision on it at the time, but there would have been the comment, "Well look, that's the least we're going to take for this". Then we went back to this in substance at the meeting on 8 January and that was the formal decision, which is recorded in those minutes.