Subject: File No. S7-06-04
From: J Mitchell

March 1, 2004

Ladies and Gentlemen

Americans are not planning for their financial future. Americans are not saving for their retirement. Americans need financial planners as advocates to help them plan for their future financially. Financial planners and investment advisors play a vital role in helping America plan and save. We must continue to be compensated for our services. Mutual fund 12b1 fees are fair compensation for the essential services that we provide.

Here is an example of the services that our firm provides in return for the 12b1 fees. For a typical annual review meeting we review the following:

1. Update position and holdings
2. Review investment performance
3. Review asset allocation
4. Review savings going into investments
5. Review/update beneficiary designations
6. Review long term plan for financial independence

We believe that this service is vital and feel reasonably compensated by these fees from investments.

Do not change the mutual fund 12b1 provisions, as Americans are served well by their advisors because of this small method of compensation.

Very truly yours,

Jennifer G. Mitchell