Subject: File No. S7-38-04
From: Matt Hart

January 24, 2005

The ability to access company presentations via the internet is an integral part of the investment process. The demands of a highly competitive market place continual pressures to both cut costs and maximize performance. Physically attending every road show would be financially burdensome, especially for those investors located outside of major hubs of institutional money management ( namely Boston and New York ). Every investor should have the same timely access to relevant information. Given that most of the regulatory effort over the past few years has been focused on improving investors' access to information, this latest proposal appears to be incongruous with this trend of equal access. Why erect barriers to the exchange of information when net road shows and other virtual meeting places have the potential to help investors make informed decisions on the the basis of all publicly available information? Restricting this information to a few privileged investors would only serve to decrease overall Market efficiency.

Matt Hart, CFA


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