Date:    03/21/2000  2:30 PM

Subject: Regarding selective disclosure

I vote in favor of eliminating selective disclosure.
I am sure that most comments on this issue relate to the rights of 
non-invested individuals, but public corporations have the same 
responsibilities to their own individual investors which they do to their 
institutional investors - and both of these responsibilities should over-ride 
the responsibilities which they might have to middlemen, the brokerages and 
analysts.  If these companies acknowledge, as they do, that the non-investor 
marketplace needs some level of corporate information, then the should, in 
all fairness, include individuals.  Some of those individuals are 
shareholders.
When a company 'incorporates' it becomes a legal 'body' (see the Latin), it 
becomes a legal individual, made up of many actual individuals.  But this 
process does not give it rights above the individual, and it is always 
responsible to it's own shareholders.  Currently any shareholding individual 
has the same lack of knowledge that a non-shareholding individual has, 
unless he (or she) has a special relationship with a broker who has a 
special relationship with the company.
Let us also bear in mind that the selective release of information makes 
brokers less effective, by rewarding them for being conduits of privately 
released information, rather than encouraging them to perform true analysis 
and research.
Neil Daniels