From: Ludwig, Mike [ludwigm@bangorsecurities.com]
Sent: Thursday, April 29, 2004 1:58 PM
To: rule-comments@sec.gov
Subject: File No. S7-09-04

I am a licensed Financial Consultant who does not directly receive commissions.  
I work on a straight salary, and all commissions generated from the products I 
sell are paid directly to my employer.  I commend the SEC for their efforts to 
regulate illegal and unethical practices, however I hope that reasonable fees 
designed to compensate us for providing ongoing customer service are not 
eliminated in the process.  

I am writing to urge the SEC to reject any proposal that eliminates the ability 
of mutual funds to pay the current reasonable level of 12b-1 fees.   

Michael E. Ludwig, CLU, LUTCF  Financial Consultant
Assistant Vice President, Bangor Savings Bank, Investment Services Group, 99 
Franklin Street, Bangor, ME  04401.  Tel. 207-942-5211, x1451

Investment & Insurance Products are not insured or guaranteed by the Federal 
Government, the FDIC, the Bank, or any of its affiliates. These products are not 
deposits or obligations of the Bank or its affiliates, and are subject to 
investment risk, including the loss of principal. Securities and Insurance are 
offered either through Bangor Securities, Inc., or Bangor Insurance Services, 
Inc., subsidiaries of Bangor Savings Bank.