Subject: File No. S7-06-04
From: Robert E Kaim

March 15, 2004

I am an individual investor.

I strongly favor adoption of the new SEC rules requiring brokers to disclose information to mutual fund investors about costs and potential conflicts of interest.

I have reviewed the proposed forms, and find them clear and easy to understand. I also believe that, after some initial start-up expenses, brokers will not incur significant additional administrative or other operating costs to comply with the new rules.