Mr. SMILJANICH: All right. Now, you knew at the time that this was ongoing that the President in September of 1985 had been informed of the 500 Israeli—500 TOWs that had been shipped by Israel.

Mr. REGAN: Yes.

Mr. SMILJANICH: And had indicated at that point that he would not completely rule out the possibility of replenishing those TOWs?

Mr. REGAN: Yes.

Mr. SMILJANICH: And you also knew at that time that the Israelis' delivery of TOWs was tied to the release of Benjamin Weir?

Mr. REGAN: Yes.

Mr. SMILJANICH: You knew of the Israeli shipments in November, the HAWK shipments in November of 1985, because you and the President had been informed of that?

Mr. REGAN: Yes.

Mr. SMILJANICH: All right. And no one in connection with those November 1985 shipments had ever indicated in any way that oil-drilling equipment was being shipped to Iran; isn't that correct?

Mr. REGAN: I recall that that was to have been a cover story if discovered, it was to have been said that these were oil-drilling parts.

Mr. SMILJANICH: OK. So, in other words, you and the President understood that HAWKs were involved in that November 1985 shipment but that—

Mr. REGAN: Certainly.

Mr. SMILJANICH: —oil-drilling equipment was a cover story?

Mr. REGAN: Sure.