Subject: Attn: Jonathan Katz re: File No. S7-25-97 Date: 11/21/97 11:37 AM Dear Mr. Katz: I am writing to express my opposition to the changes proposed in File No . S7-25-97. My opposition to these changes is based on a si mple--almost dogmatic--belief: a "Public" company needs to be not ju st tolerant, but supportive of the constituency that it represents. It is part of the "burden," one might say, of being a Public company. A Public company's constituency is composed of shareholders and of the Pu blic (i.e., citizens) in general. As you know (better than I) it is th e "Public" who grants the right for corporations to exist, a right granted because it serves the common good of the Public as well as the monetary good of the shareholders. Lastly, I add to that my direct experience as a consultant helping companies get venture financing and going through the IPO process. I have yet to have a client that expresses awareness (certainly not active interest) in the rights of shareholders or the company's obligation to the public. I hope The SEC will serve this constituency by rejecting the proposed changes. Sincerely, Dean Ritz Seattle, WA 98109