Sent: Monday, March 22, 2004 4:54 PM
Subject: File S7-11-04:

March 22, 2004

I am a small investor who would be harmed by the proposed rule
change forcing mandatory redemption fees for mutual funds held
less than five days.  I suggest, if this change must be
instituted, fees be charged only on transactions exceeding one
milion dollars each.

Randal L. Glassco