The first 3/4 of the film is just Naomi Watts' dream. The real life is the last 1/4, everyone in her dream (first 3/4) really exists but everyone has changed roles in her dream. Naomi Watts is Diane Selwyn. Laura Harring is Camilla Rhodes. Diane ordered a hit on Camilla because she was jealous of her success and her relationship with Adam. The hitman is the blonde-haired man and the bag of money was his payment. Diane's 'demons' attack her in real life and she shoots herself in the mouth, and the first 3/4 of the film is her dream before she dies. The body that they found on the bed in the dream world was her.