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Notes to the Consolidated Financial Statements continued

for the year ended 31 December 2007

20 Cash and short-term deposits

  2007   2006
  €m   €m
Cash at bank and in hand 35.0   52.0
Short-term deposits 25.9   64.6
  60.9   116.6

Cash and short-term deposit balances are floating rate assets which earn interest at various rates set with reference to the prevailing EURIBID and LIBID or equivalent.

Short-term deposits mature within three months (2006: three months) and include €3.7 million (2006: €3.7 million) of deposits required by insurers to be held by Aegis Motor Insurance Limited (a subsidiary of the Group) to settle claims.