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In your leader column (THES, March 10) you stated that Lancaster University had launched a Pounds 35 million debenture issue. Not so, unfortunately. We have been on the slipway for some time, and had hoped to be afloat by now. But this launch, like any similar venture, is dependent on a combination of factors, most of which are outside the university's control. As soon as conditions - particularly market conditions - allow, we intend to go. And when we do, The THES will be among the first to know.

Eric Britton

Press and public relations

Lancaster University