This conversation takes place between Paul and agent Mar on 9 January 2003. On 16 October 2002, Paul gave a presentation to Spanish Intelligence agents on the complexities of offshore structures and money laundering. During this conversation, Paul is enquiring about the whereabouts of Fernando, or agent Munoz. It is clear from the conversation that Paul has met a number of female agents when he refers to Sonsalis in error, before realising he is speaking with agent Mar. The conversation is friendly with Paul and Mar exchanging pleasantries during which Mar reminds Paul that she was the translator when Paul gave his presentation.