IN TWO articles, published March 29th and May 10th, we referred to the above named gentlemen, and their involvement with Sutton Park School (SPS) and its related company Beachrise Properties Ltd. We wish to clarify our report by stating the following: (1) Neither Mr McCrohan nor Mr Quinn nor Mr Brophy formed the company Beachrise Properties Ltd. It is a single member company formed by SPS and wholly owned by SPS. (2) The development plan for SPS had been in existence since 1997. (3) The sole creditor of Beachrise Properties is in fact SPS. The value of the professionally valued lands was taken out of SPS accounts and transferred to Beachrise Properties. Therefore no borrowings were required in respect of the transfer.

The value of the lands was inserted as a debt in Beachrise accounts with a corresponding entry made in the SPS accounts, in accordance with good accounting practice.

We unreservedly apologise to Mr McCrohan Mr Quinn and Mr Brophy who became involved with SPS on a totally voluntary basis and have acted at all times properly and prudently, and withdraw any imputation that they may have been involved in incurring any debts by or on behalf of SPS. We regret the distress our articles have caused.