Subject: File No. S7-03-04
From: Robert K. Dyer, M.D.
Affiliation: Retired

June 14, 2006

-Gentlemen Ladies,
I fully endorse having 75% of the Directors of
Mutual Funds being INDEPENDENTS - Not Corp. personel.
Thanking you for this consideration.

Sincerely, Robert K. Dyer,MD.