From: Francis A Kenia
Sent: March 31, 2005
Subject: File No. S7-06-04

Jonathan G Katz Secretary SEC Dear Mr Katz: As an investment professional (20 years) I believe that the rule being considered would be burdensome, expensive, time consuming, and confusing to my clients. I can also see where it would severly limit the investment options that I would present to my clients. What ever happened to the user friendly prospectus? Thank you for your consideration . Sincerely Francis A Kenia