Subject: File No. S7-06-04
From: John E Soraghan

March 18, 2004

I agree with requiring this information as a condition for an individual to purchase subject securities. Another consideration for the form is whether the mutual funds held by the brokerage are portable if one decides to move an account to a different brokerage. Investors are not necessarily told that if they move their account to another firm some funds may not be portable.