Date:    06/28/2000  1:18 PM

Subject: File No. S7-09-00

Hi,
     
Being an investor in quite a few mutual funds, I am all for the the new rule 
that
     
"mutual funds would 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. The proposals also would require 
funds that include after-tax returns in advertisements and other sales 
materials to include standardized after-tax returns."
     
Best regards,
     
Kuang-Yu Liu