Arthur Levett, Chairman
Securities and Exchange Commission
     
I am a college language profesor who currently has over $100,000 invested 
in mutual funds, which I manage actively, with ten different funds. I 
typically transfer money two or three times per year, and have had quite 
a bit of experience with reading prospectuses. I recently read an article 
in Mutual Funds magazine, and noted a sample of the profile prospectus 
that has been suggested. In my opinion, this would be much more easily 
understood than what I have received in the past several years, which are 
written in a legalese dialect that approximates gibberish.
     
While I understand the need for precise language, comprehension by the 
mutual fund user is even more important, and since both the profile and 
the long-form prospectus can be requested, I favor allowing the former to 
be distributed in lieu of the latter, so long as the profile prospectus is 
faithful to the details of the long form.
     
I believe that this will save expenses and postage and will make the 
overall understanding of risks and rewards clearer to most people. 
     
The sooner this is done, the better.
     
Many thanks for your consideration. 
     
					Very truly,
     
					Richard H. Eldridge, Ph.D.