Sent: Sunday, March 21, 2004 2:09 AM
Subject: S7-11-04:

Gentleman,

I am a small investor using mutual funds for my investments.

The 2% redemption fee imposed on trades of 5 days or less
proposal will hurt me and other small investors.

The redemption fee or penalty should be imposed on mutual fund
managers trading after hours or  if they trade unfairly.

The market performance of a mutual fund will take care the bad
performers.

Thank you.

Steve Benke