When objective reference is characterised relative to a two-levelled semantical framework, serious problems arise for a theory of intentionality. This was particularly evident in Chapter III, where we examined a theory of objective reference based explicitly on Russell's theory of names. At the same time, as we saw at the end of the last chapter, this way of characterising objective reference is one that successfully avoids mentalism and, in this respect, fulfils an important requirement for a theory of intentionality.