From: Richard Beckenbaugh [beckenbaugh@compuserve.com]
Sent: Monday, March 08, 2004 12:03 PM
To: SEC rules
Subject: File S7-03-04

I approve of this proposed rule, especially the part about having fund
chiarman of the directors be an independent director.

Richard Beckenbaugh

beckenbaugh@compuserve.com
(253) 661-0468