From: James Rau [James@courtneyretirement.com]
Sent: Thursday, May 06, 2004 10:41 AM
To: rule-comments@sec.gov
Subject: File # S7-09-04

The elimination of 12b-1 fees would, without a doubt,  destroy the service that 
mutual fund investors rely on from their brokers.  As an investment advisor for 
over thirty years my client base is made up of hundreds of older clients relying 
on my servicing their requests for ie: beneficiary changes, withdrawals, 
transfers, suggestions, redemptions, death claims, and on and on with no income 
to my office for this continuous and time consuming work other than the 12b-1 
fees I receive.

In the insane effort to help the individual investor with this move it is, as 
we've heard the expression before, 'thowing out the baby with the bath water'!
James W. Rau