Date:    03/22/2000  12:06 PM

Subject: Selective Data Disclosure
 
Gentelmen,
     
The ability of the Market's function to be truly random and even handed is 
directly impacted by the amount and method of delivery utilized in 
communications between entities and the public.  At present the system 
unfairly allows a select few access to up-to-date information allowing them 
to unfairly profit by such restricted disclosures by trading on the market 
long bvefore the information reaches the public. As we see today 
participation in the Market is broaded than ever before and that is good. 
Giving a special class citizenship by way of restriced disclosures is grossly 
unfair to the average investor. The flow of information must be free of this 
"look-ahead" operation which sadly  functions asa an unfair advantage given 
to a few select indicvduals or firms. No restrictions should be placed on the 
flow of information from companies to their current or potential 
stockholders.  The current systwem does not reflect that full free flow 
principal.
I am firmly in favor of a ruling and enforced provisions that will "level the 
playing field"
between what now are factually insider traders and the average public 
investor.
     
Sincerely,
     
C. F. Knepper
President
Arena International Engineers Inc.
925 Coffey Drive
St. Louis, MO. 63126-1313