From: Jean Bridcut 

Sent: Wednesday, June 28, 2000 1:11 PM 
Subject: File No. S7-09-00
     
     
Dear Mr. Katz:
     
Please vote yes on this pending amendment to require mutual funds to be required
to disclose after-tax returns based on standardized formulas comparable to the 
formula currently used to calculate before-tax average annual total returns. 
     
Please also consider changing the proposal for computing after-tax returns to 
reflect the average fund investor's short-term gains at 28% rather than 39.6%.
     
My name is Russell K. Gillette and I am a real estate appraiser registered in 
the state of Michigan.
     
Thank you,
     
Russell K. Gillette