Reply to letter to Vanni Treves on 29/08/02. 

6 September, 2002. 

Dear Mr. Henney, 

The Penrose Inquiry 

Thank you for your letter of the 29 August, 2002addressed to the Chairman. He is currently on holiday but we have discussed the issues and he has asked me to reply to you. 

Lord Penrose is conducting a very complex and thorough review and he will have access to a great deal of information that is not available to us. As you know, in announcing the Penrose Inquiry, the Government made clear that there will be no financial ‘lifeboat’ to the Society. The Society, therefore, must wait for the publication of the Penrose Report. We will then review his findings and our possible courses of action.  

You have noted that Penrose has no deadline for completion of his report. As I understand it, he therefore does not accept that there has been a delay. 

Yours sincerely, 

Charles G Thomson

Chief Executive