Subject: File No. S7-06-04
From: john w. creswell

February 17, 2004

I received your forms in the mail. After reading the info you sent I think you are on the right track. when we sold some mainstay funds a few years ago we could not believe how much in fees we paid and when I called new york life they still did not explain the fees

I especilly like attachment 2 where you require the fund to tell you what it wil cost if you sell within a certain time if this requirment had been in place when we sold we would have helt the shares longer.

I think what you are doing is, well all I can say is its about time

thank you
John w. Creswell