Subject: File No. S7-38-04
From: Weidong Huang, Ph.D., CFA

January 20, 2005

Dear Madam/Sir,

I am writing to express my concerns on proposed new regulations that govern electronic roadshows and could potentially eliminate the institutional Internet roadshow for IPOs and all registered offerings.

Internet roadshow, as it exists today, is an important research tool for institutional investors and should not be changed.

Weidong Huang, Ph.D., CFA
TimesSquare Capital Management, LLC