The statement said: "All parties reaffirmed their commitment to the long term future of the Heineken Cup and European Challenge Cup and to providing a stable future for both ERC tournaments.

"The parties reached a conditional agreement, which, on completion of discussions between RFU and PRL over the next two weeks, will ensure the long term future of both European tournaments and the participation of the leading teams from all six competing nations.

"All parties are working towards a final agreement by the weekend of the Heineken Cup Final at Twickenham Stadium on Sunday, May 20," the statement continued.

"It was confirmed that the participant teams will be Club/Provincial/Regional teams from Ireland, Scotland and Wales, and in the case of England, France and Italy, Club teams from the top professional leagues in each country."

In attendance at today's meeting were:

IRB - Dr. Syd Millar and Mike Miller
ERC - Jean-Pierre Lux and Derek McGrath
FFR - Pierre Camou, Bernard Lapasset and Michel Palmie
LNR - Serge Blanco
FIR - Orazio Arancio
LIRE - Sandro Manzoni
IRFU - Peter Boyle and Philip Browne
RFU - Terry Burwell and Martyn Thomas
PRL - Mark McCafferty and Tom Walkinshaw
SRU - George Jack and Allan Munro
WRU - Roger Lewis
Welsh Regions - Stuart Gallacher