Subject: File No. S7-06-04
From: Paul Laauser, Jr

February 16, 2004

The breakdown of all fees should be spelled out in plain english so the average person like myself can completely understand what we are paying all the fees for in relation to all the services that are provided for the mutual fund owner.
In addition mutual funds should be required to notify all owners of at least the top 10 or 20 stocks that they hold in a more timely fashion say like every 3 months or at least have them listed on there web sites for review for comparison against other funds.