Subject: File No. S7-06-04
From: Don Schlecht

February 11, 2004

12b1 fees are charged for marketing and distribution costs.
Why is a fund that is closed allowed to continue to charge these fees. If a fund is closed, they are not looking for new investors and therefore would have no marketing and distribution costs.
I would appreciate an answer as to why you allow this
to continue.

Don Schlecht