23 Ninety companies responded to an advertisement published in the Official Journal of the European Communities in March 1997. National Savings selected four companies to receive an Information Memorandum setting out the scope of the project in greater depth. Following evaluation of the bidders' proposals, SBS and Electronic Data Systems (EDS) were invited to negotiate on detailed terms. National Savings considered that taking forward two rather than three or all four of the bidders would provide the optimum balance between the maintenance of competitive tension in the final stage of bidding and the significant costs for both sides in formulating and evaluating final bids. National Savings maintained competitive pressure on SBS and EDS by negotiating a draft contract with each of them before recommending a preferred bidder to the Treasury. At each stage of the procurement, pre-determined criteria were used to evaluate bids. SBS provided better value for money than EDS on the basis of price and the extent of risk transfer. This was most apparent in the higher limits of liability and level of performance deductions SBS was prepared to accept.