From: Anne Webb [annewebb@teleport.com] Sent: Monday, June 02, 2003 11:50 PM To: rule-comments@sec.gov Subject: S7-10-03 5010 Fir Dell CT. SE Salem, Oregon 07306 June 2, 2003 William H. Donaldson, Chairman Security and Exchange Commission Dear Chairman Donaldson, I am a member of the Oregon Public Employees' Retirement System and have other funds that are invested and managed by the Oregon Investment Council. It is so important that shareholders become more empowered in corporate governance. The majority of stock is owned by retirement funds and other institutional investors, I understand. Not allowing the institutional investors to have a vote at the shareholders' meeting amounts to placing the minority in control of the corporation. Judging by the recent spate of corporate scandals, one might justifiably draw the conclusion that the SEC and other regulatory groups have been lax in their oversight. However, the big losers have been the pension funds. Don't you agree that it is unconscionable to deny institutional investors the right to vote along with other shareholders? Sincerely, Anne Webb 503-364-0516