Subject: Ref. File No. S7-5-99
Author:  "Jon Correio" <correio@esteem.com> at Internet 
Date:    6/11/99 10:36 AM
     
     
Securities and Exchange Commission
Attn: Rules Comments (Ref. File No. S7-5-99)
     
To whom it may concern:
     
This email is being forwarded to express concern over the rules proposed in 
the referenced file number, particularly proposed regulations regarding OTC 
and Pink Sheet market makers being mandated to incur additional costs and 
requirments in order to trade in smaller, less actively traded securities. 
Electronic Systems Technology, Inc. is a smaller, less actively traded 
security that, from information provided by our market makers, would be 
effected by these regulations.  In the information provided by our market 
makers, they have stated that the proposed rules would all but prohibit our 
company's access to public markets.  Obviously, we are concerned with this 
possibility.
     
We understand that OTC and Pink Sheet stocks have an increased exposure to 
manipulation, abuse and other negative issues, and preventative measures 
should be in place to reduce the possibility of such undesired events, but 
the proposed rules seem to have the great probability of negatively 
effecting viable, upstanding, and law abiding company's such as Electronic 
Systems Technology, Inc.
     
We urge the Commission to propose and enact rules that provide protection to 
the investor and investing community, while not unreasonably effecting the 
access to trading for viable company's that exist in the already difficult 
environment of OTC and Pink Sheet stocks.
     
If you have any questions or comments, please feel free to contact us.
     
Jon Correio
Manager, Finance & Administration
Electronic Systems Technology, Inc.
     
correio@esteem.com