Subject: File No. S7-06-04
From: Hal Childs

March 17, 2004

The forms themselves look good to me, but others with more knowledge may be able to improve on them. My concern is with the timing of the information. As an investor I would like access to this information about sales loads and conflict of interest before I make a transaction, not at the time of transaction or after the transaction. If I am interested in a mutual fund I want to be able to ask my broker for this information before I decide to purchase.