Subject: File No. S7-06-04
From: Philip M Grimley, MD

April 7, 2004

I believe it is in the interst of the mutual fund industry as well as investors for the SEC to require
brokers to disclose more information about costs and potential conflicts of interests to investors who purchase mutual fund shares. Brokers should disclose
any and all fees or expenses a purchaser will pay for a particular fund. In particular, they should detail any specific benefits of the purchase to their firm or salespersons beyond the standard upfront purchase fees advertised in the prospectus.