MessageFrom: Richard Mangiarelli [colonel@cybertelcorp.com]
Sent: Wednesday, March 05, 2003 5:12 PM
To: rule-comments@sec.gov
Cc: lwb@burninglaw.com
Subject: File No. SR-DTC-2003 03 DTC, Naked Shorting

I wish to lodge formal opposition to the Depository Trust Corporation's 
requested rule change to prevent issuers from exiting the DTC's electronic 
clearing and book entry system. Currently an issuer has the ability to 
withdraw from the DTC system and trade on a certificate bases only. With this 
method an issuer is able to defend against a market makers or brokers "naked 
short" position and combat the market makers ability to influence the share 
price downward. Naked short selling undermines real shareholder ownership, 
devaluates the trading prices of shares in the marketplace and artificially 
inflates share ownership.
 
Please DO NOT grant the DTC's request for a rule change to prevent issuers 
from exiting the DTC's electronic clearing and book clearing system.
 
Respectfully,
 
Richard Mangiarelli
President & CEO
Cybertel Communications Corporation OTC-BB CYTP