From: rfeinstein@sra.state.md.us
Sent: Friday, June 06, 2003 9:56 AM
To: rule-comments@sec.gov
Subject: Re: File No. S7-10-03



Robert D. Feinstein
2406 Brambleton Road
Baltimore, Maryland 21209

June 6, 2003

Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, N.W.,
Washington, DC 20549-0609

RE: File No. S7-10-03

Dear Mr. Katz:

In both my professional life (I represent an institutional investor, the State
Retirement and Pension System of Maryland, a large public pension plan) and my
personal life (I cringe quarterly when I review the performance of my woefully
depleted retirement savings accounts), I care deeply about the reputation of our
capital markets and the performance of corporate management.

As a former SEC employee, I greatly appreciate the work which the staff and
commissioners have been doing to strengthen our capital markets, especially
since the enactment of Sarbanes-Oxley.  I applaud the SEC for undertaking this
review of its proxy rules, strongly support reforms to streamline and improve
the shareholder proposal process generally, and hope that the SEC will give
careful consideration to proposals advanced by the Council of Institutional
Investors and others to amend the proxy rules so as to increase shareholders'
ability to select corporate directors.

Sincerely,

Robert D. Feinstein