Subject: File No. 3-11590
From: JOEL E HOFSTETTER

June 19, 2007

It is our understanding that as part of this settlement, Janus has agreed to lower their management fees for some or all of the funds involved. Since we no longer hold nor intend to hold any Janus mutual funds in the future, this would be unacceptable and of no benefit to us. As a matter of fact we find it insulting.

Thank you for giving us the opportunity to comment.