Subject: File No. S7-06-04
From: Creed c. Coffee, Jr.

March 19, 2004

I feel that the form you have displayed here is very good and will be an aid in the average persons investment effort. I further believe that the information should be presented before the sale is made. This effort is similar to the present rule that requires that a prospectus be furnished for cerain sales. Often in past purchases the document arrived weeks later. The only benefit was the after-the-fact evaluation of what you had purchased.

I understand that the cost of providing sales by financal suppliers needs to be recovered. The question becomes, is it excessive or is it necessary? The investor needs to be able to determine what percentage of his investment goes to the purchase of stock,bonds or other paper.