From: Teri Rolf
Sent: August 19, 2006
Subject: File No. S7-03-04

SEC Chairman Christopher Cox

Dear SEC Chairman Cox,

1)I am writing to express my strong support for the proposed rule requiring that mutual fund boards have an independent chairperson and at least 75 percent independent directors. These rules were among the most important reforms adopted by the SEC in the wake of the mutual fund trading and sales abuse scandals.

2)The "Statement of Additional Info" SAI should be a mandatory, yearly, giving to shareholders.

3)401K's and the like should have "windows" to allow investors to vote on offerings and costs with their feet. There is absolutly no reason to hold us hostage in these limited funds.

The Investment Company Act requires that mutual funds be managed in the interests of their shareholders.


Teri Rolf