From: robert m tourtelot [turtleisle@msn.com]
Sent: Monday, March 08, 2004 12:30 AM
To: rule-comments@sec.gov
Subject: FileNo. S7-03-04

   I would like to express my strong support for the proposed rule change to 
require an independent chairperson and that 75 percnt of the fund directors  
rather than a majority be people not affiliated wwith the funds or the advisory 
firms. As a small investor this would provide me with more confidence that 
conflicts of interest in management decisions would be minimized.
    I would like to suggest another step in this process that would lead to real 
democracy in mutual funds and that is to require annual votes for directors and a 
streamlined way for shareholders to nominate candidates to compete wwith those 
picked by the directors.
     Thank you for your consideration in these matters and please restore public 
confidence in the mutual fund industry.

Sincerely,
Robert M Tourtelot
Lummi Island, WA., 98262
360-758-7180