Subject: File No. S7-10-05
From: James M Phipps

December 22, 2005

While the placement of proxy material on internet might seem like the logical approach not everyone has internet access. And the cost to the individual investor would go up because you would have to print the material out to really read it. Much less understand it.
In my opinion giving shareholders the option to receive proxy or investment material via the internet or web pages is good enough.
Doing the reverse of requiring them to ask for copies would not be in the best interest of the shareholder.
Of course if shareholder's who chose to receive material via internet or web got some type of financial incentive then I would have a much different opinion. Like one share of stock for choosing to receive via web.