Q: Did the global credit crunch affect the local market?  
 
There wasn't really an impact locally until the last quarter of the year where deals that required senior debt funding were more difficult to complete, however quality deals were still being transacted.  
 
Q: Predictions and trends expected for dealmaking in 2008 and any hot sectors to look out for?  
 
We anticipate and are experiencing significant deal activity in the first quarter, however we expect negotiation tactics to be used over the timing of the completion of deals in the coming months but a lot depends on the Chancellor's actions pre 5 April.   Deal activity will be affected as to whether the banks hold their nerve and we expect the private equity boys to come more into play.