From: Jerry Hardt [jhardt@foothills.net] Sent: Wednesday, July 30, 2003 8:30 AM To: rule-comments@sec.gov Subject: SEC File #4-463 Mr. Jonathan G. Katz, Secretary U.S. Securities and Exchange Commission 450 Fifth Street, NW Washington, DC 20549 RE: SEC File # 4-463 Dear Secretary Katz, As both an investor and as one who lives in an region subject to a lot of environmental abuses, I concur with the need for tightened standards for companies reporting environmental liabilities. There are companies I do not invest in because I am aware of how they operate locally and the potential future liability for such actions. However, I only know this because they operate locally. I would never know this from any statements, reports or disclosures made by the company. I understand that the U.S. EPA and other agencies have documented the under-reporting of environmental liabilities by corporations. In fact, some companies even attempt to hide these liabilities through accounting practices. I ask that the Commission offer strict new rules defining "environmental materiality" based on the reporting guidelines developed by ASTM in order to close the existing loopholes, as intended by the Sarbanes-Oxley Act. I believe such rules would lessen investor vulnerability and increase corporate responsibility. Thank you for your consideration. Jerry Hardt P.O. Box 697 Salyersville, KY 41465 606-349-4860 (office & fax) jhardt@foothills.net