Subject: File No. S7-03-04
From: James V Bess
Affiliation: None

June 15, 2006

Please support the SEC rules that would ensure that we as shareholders have a voice on our mutual fund board of directors. I believe the old extant rules maintain a "good old boy" mentality by keeping the mutal funds' cronies on the BOD - these men and women don't represent shareholders concerns, rather they seek to unfairly enrich the compensation of management at the shareholders expense. I would like more of a voice not less in how my money is manged.
Thank you for caring about the shareholders enough to redesign the SEC ruling to satisfy the US Court of Appeals for the District of Columbia Circuit.

James Bess
An average American Mutual Fund Investor