Definitions

For brevity, this letter uses short forms to identify the parties concerned:

■  "the NAO " refers to the National Audit Office;

■ "Operis" refers to Operis Business Engineering Limited;

■  "the PFI" refers to the UK Government's Private Finance Initiative;

■  "GOGGS" refers to the Government Offices in Great George Street, the principal occupant of which is HM Treasury;

■  "the Bidder" refers to Exchequer Partnership;

■  "SG" refers to Société Générale, financial adviser to the Bidder;

■  "the Transaction" refers to the agreement under the PFI whereby responsibility for developing, monitoring and operating GOGGS was transferred to a consortium led by the Bidder; and

■  "the Model" refers to a financial model of the transaction sent by email to Operis for evaluation, "GOGGS21.xls" date stamped. 28 March 2001, 10:47:08.