U.S. Securities and Exhange Commission

Investment Advisers Act of 1940
Release No. 2213A / February 6, 2004

Investment Company Act of 1940
Release No 26347A / February 6, 2004

Administrative Proceeding
File No. 3-11393

In the Matter of Massachusetts Financial Services Co. et al.

Dissent of Commissioner Cynthia A. Glassman

I concur in the Commission's settlement with Massachusetts Financial Services. However, I dissent from the settlements with Messrs. Ballen and Parke. Given their respective positions, including Chief Executive Officer and President of Massachusetts Financial Services, I believe that the terms of the settlements with Messrs. Ballen and Parke were not strong enough.