From: kevin f. granger [kfgranger@earthlink.net] Sent: Wednesday, June 04, 2003 2:56 PM To: rule-comments@sec.gov Subject: Re: S7-10-03 Please find this note to register my support for SEC Chairman Donaldson's recently announced decision to conduct a comprehensive review of the proxy rules under Section 14 of the Securities and Exchange Act of 1934. As you know, these rules govern the shareholder access to the proxy statement and ballot. As an individual shareholder, I was heartened by the passage of the Sarbanes-Oxley Act of 2002. As significant as this law's passage is, shareholders still lack an effective tool to determine who will serve on the boards of the corporations in which they invest. I believe that qualifying shareholders must have the right to nominate at least one candidate to the boards of these companies, without having to undertake an expensive contest to exercise this right. Ultimately, shareholders bear the cost of the entire proxy process, and since the board of directors is the only group legally bound to consider shareholders' interests, we need more than the opportunity to rubber stamp management's nominees. The current board nomination and election process does not bear much relation to a true election; the question isn't whether the management's candidates will win, but only how they will win. I believe that allowing all shareholders access to the proxy ballot and statement will be a substantive move toward the appearance and substance of fairness in this process, and go a long way towards restoring the confidence of all investors in the capital markets.