Subject: File No. S7-06-04
From: Douglas E Prescott

March 8, 2004

Please reconcile the amounts in Sections B and C. Page 1 of the Example had in Section B a Front-End Sale fee of 321.18. However, Section C has a 300 Sales Fee, a 30.72 Revenue Sharing fee, and a 15.36 Commission. These Section C fees add up to 346.08 which is in conflict with the Section B Front-end Sales fee of 321.08.

Even if you designed Sections B C to not agree, I recommend that you change the format so that the numbers do agree and we can see exactly the distribution of fees and how they total up to the same number.

Thanks for letting us comment.