Subject: File No. S7-38-04
From: Craig Millar, Portfolio Manager
Affiliation: Natcan Investment Management
January 24, 2005
Being a Canadian institutional investor that invests in US equities, netroadshow presentations are crucial to us, as often the companies going public do not travel to Canada to do presentations. Please allow netroadshow to continue - this is a very good service to us.
Natcan Investment Management