Subject: File No. S7-26-07
From: James Shaw
Affiliation: CEO, CapHarbor, LLC

December 17, 2007

I have attached an article that I wrote, which analyzes the NAR Exepmtion Request.

Please accept this attachedment as my comments to the proposed exemption.

Thank you,

Jim Shaw

(Attached File #1: jshaw1390.pdf)