Subject: File No. S7-06-04
From: Kent Hamill, CFS

March 23, 2004

For the past 37 years, I have worked in the financial services field. I have always believed in full disclosure to the client. Most of my business was in A shares until the other classes came to be. I have used other share classes since the year 2000, but the majority of my business is still in A shares.

I was under the belief that if I served my clients well, I would receive 12-B-1 trails to pay me for the constant service that I have rendered over the years. Now, I am into my 70th year and still active in the business. However, my 12-B-1 trails consist of the greater part of my income today and if they should stop, I and many others would be financially devastated.

We were always told that the 12-B-1s would improve our book of business at the end of our careers meaning we would have something of value to sell and because of the trail commissions being paid to a new buyer they would have a strong incentive to take good care of the clients.