From: Tim Riley [tim@rileybusiness.com]
Sent: Monday, March 08, 2004 12:52 AM
To: rule-comments@sec.gov
Subject: File No. S7-03-04

Please make the Mutual Fund Chairman independent. The potential and reality
for conflicts of interest is too great to have any insider or affiliate in
the role. Please give us the protection that we individual investors
deserve.