From: r e condon [rec@wolfenet.com]
Sent: Monday, March 08, 2004 11:21 AM
To: rule-comments@sec.gov
Subject: S7-03-04: 

The proposed rules are needed.  In fact, they are overdue.  There is an 
inherent conflict of interest in having any employee of a fund 
management company sit as a voting member of the fund board so, in my 
view, the proposed rules don't go far enough.  But, they are a good 
first step and should be implemented forthwith..

Robert E Condon
2722  86th Ave NE
Clyde Hill  WA 98004-1653
425-453-7860