From: Michael J. Norris [mjnorris@qwest.net] Sent: Friday, May 07, 2004 2:56 PM To: rule-comments@sec.gov Subject: File # s7-11-04, Mandatory redemption fees I have been an SEC Registered Investment Advisor for many years. I use no-load mutual funds, predominantly held on an intermediate to long-term basis. I am opposed to the imposition of a mandatory 2% redemption fee. - It is not necessary. Funds that are concerned about the problem already have a fee - It interferes with the Fund's ability to do what is best for their particular situation. Michael J. Norris Norris Advisory Services