From: Neal Philipsen []
Sent: March 29, 2004
Subject: File No. S7-19-03

To Whom It May Concern:

I would very much like to see adoption of the Security Holder Director Nominations proposed rule, allowing share owners to place independent director nominations on the slate for elections.

While this proposal isn't nearly empowering enough to shareholders, it is at least a start to changing the grossly corrupt corporate governance models currently in place. The current system of CEOs electing each other to scratch their collective backs is sickening. While this proposal does nothing for the small-time investor, it might at least start the ball rolling toward a fair governance model.

Best regards,

Neal Philipsen