S7-03-04:From: Al McCrary [almc@verizon.net]
Sent: Sunday, March 07, 2004 6:04 PM
To: rule-comments@sec.gov
Subject: S7-03-04:

SEC, Here are my "Comments on your Subject Proposal:


First, 75 % of Mutual Fund Directors must be selected from "Outsiders" (people not 
affiliated with the funds or the funds Advisors).


Second, The Fund Board of Directors must choose it's Chairman from the "Outsider" 
group.


Third, The Fund Chairman cannot be the Fund Investment Advisor.


Fourth, Fund Shareholders should be able to Annually:


a. Vote for Directors.


b.  Nominate candidates to compete with
those nominated by the Directors.

-- 

Al McCrary