Sent: Monday, February 23, 2004 12:06 PM
Subject: File No. S7-06-04

I am a small, individual investor.  I have invested in the stock
market for all most 40 years, in individual accounts for my wife
and I, self-directed IRAs, and 401(k) and 403(b) investments.

I have reviewed your proposed new disclosure form, and I really
like it!  I especially like the items "which is equivalent to XXX%
of your investment industry norms.  Range x.xx%-x.xx% median
x.xx%" in (B) and (C).

Thank you, and I sincerely hope you can implement the requirement
for all brokerage firms to give you these forms when you buy or
sell a stock.

Tom Novak
305 School Road
Indian Harbour Beach
FL 32937
(321) 777-7740