Date:    06/24/2000  9:30 AM

Subject: S7-09-00, Mutual Fund After-Tax Returns

I think that using a 39.6% tax rate is not a good idea. Hopefully tax 
brackets or rates will be changed with a new Congress, making the 39.6% rate 
much less usefull for the average investor. Even if tax rates do not change, 
calculations using a 31% rate would have been more usefull for us prior to 
retirement.
   Fred Lannert, Boynton Beach, FL