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Notes to the Company accounts
10. Commitments and contingencies
The Company has guaranteed the repayment of principal sum, any associated premium and interest on specific loans due from certain subsidiary undertakings to third parties. At 31 March 2007, the sterling equivalent amounted to £650m (2006: £2,223m). The guarantees are for varying terms between 3 months and 11 years.
The Company has also guaranteed the lease obligations of a former associate to a subsidiary undertaking, amounting to £23m (2006: £31m).