From: SHARI FIGI, GMAC COMMERCIAL MORT [SFIGI@bloomberg.net]
Sent: Monday, December 29, 2003 1:31 PM
To: rule-comments@sec.gov
Subject: (s7-29-03) FUND EXPENSES

IT IS VERY SURPRISING TO ME THAT FUNDS DO NOT HAVE TO DISCLOSE ALL EXPENSES FOR
THE FUND WHICH INCLUDES SOFT DOLLAR EXPENSES.  EVERY SINGLE EXPENSE THAT I HAVE
TO PAY OUT OF MY RETURN ON THE FUND SHOULD BE DISCLOSED ON A PER LINE ITEM BASIS

PLEASE DO EVERYTHING YOU CAN TO PROMOTE FULL DISCLOSURE BY MUTUAL FUNDS.  THANKS