From: Louis Santoro [lsantor@attglobal.net]
Sent: Thursday, May 06, 2004 1:08 PM
To: rule-comments@sec.gov
Subject: s7-09-04

As a registered securities representative, the termination of 12b-1 fees will 
result in a reduced level of service to my clients. It will force me to 
concentate almost exclusively on new business rather than client maintenance 
(particularly those clients that are one-time mutual fund buyers). We are here 
to make a living. Should we consider a small, one-time commission enough 
compensation for years of financial planning and administrative tasks (check 
distributions, address & registration changes, IRA minimum distribution 
calculations, cost basis calculations, portfolio rebalancing, etc.)?

Louis V. Santoro
Registered Representative
Series 7 Licenced
Mutual Service Corporation