From: Gamble, Bruce (DCRB) [Bruce.Gamble@dc.gov]
Sent: Friday, June 13, 2003 2:32 PM
To: 'rulecomments@sec.gov'
Subject: File No. S7-10-03

To:         Mr. Jonathan G. Katz
            Secretary, Securities and Exchange Commission

From:       District of Columbia Retirement Board

Date:       June 13, 2003

Subject:    S7-10-03

The District of Columbia Retirement Board ("DCRB") is an independent agency 
of the District of Columbia government ("District") that manages and controls 
the assets of the retirement funds for teachers, police officers and 
firefighters employed by the District.

As a public pension fund representing the interest of over 13,000 participants 
and beneficiaries, DCRB believes that changes in the proxy rules which improve 
shareholder access to corporate proxy cards for nominating director candidates 
of public companies will help encourage increased accountability to shareholders, 
and serve to restore investor confidence.

DCRB is writing the Commission in strong support of efforts to formulate changes 
to proxy rules and regulations designed to give investors a meaningful opportunity 
to participate in the process of nominating candidates for election to board 
directorships of publicly held corporations.  Such rule changes should however 
protect corporations from abusive tactics during takeover attempts, and avoid 
unnecessary expense or burden on corporate management.

Proxy rule changes that allow shareholders fair and equal access to company proxy 
cards to nominate directors will encourage greater dialogue between corporate 
management and shareholders, ultimately resulting in a better alignment of interests.


Respectfully submitted,

 

Mary A. Collins
Chairman of the Board
District of Columbia Retirement Board
1400 L Street, N.W., Suite 300
Washington, D.C. 20005