In paragraph 3.15 of the Report, it states "at the time of writing the terms of the assurance are still being negotiated". I would like to inform the Committee that terms have now been agreed and the Completion Assurance has been completed between all parties, ie EP, Anschutz Corporation and MDL. The finalised terms provide the additional protection envisaged in the Report.
I can also confirm that the Waterfront Profit Share legal agreement referred to at paragraph 3.20 (second bullet point) has been finalised.
I hope this is of assistance to the Committee.
John Walker
Finance & Commercial Director
(Accounting Officer for Greenwich)
14 January 2005