From: ROB SEGAL [vze3hc2e@verizon.net]
Sent: Thursday, December 05, 2002 10:54 AM
To: rule-comments@sec.gov
Subject: File No.: S7-36-02 

File No.:   S7-36-02 
Disclosure of Proxy Voting Policies and Proxy Voting Records 
by Registered Management Investment Companies

I write as an investor to express my strong support for this new rule.
 
1.  Proxy Voting Policies should be posted on the Investment Companies Website.  

2. Voting records should be posted on each investment company's website.  
 This should be done at the same time that the vote is cast.  There is 
 no reason to wait for quarterly or less frequent disclosure.   The voting 
 record should remain available on the website for at least 5 years after 
 each vote.   Investment companies should be encouraged (but not required) 
 to explain why they cast each vote as they did.   

I don't feel that additional forms to file with the SEC are required for 
either Voting Policies or Voting Records.   Companies should be encouraged 
(but not required) to make this information available in printed form to 
their investors on an annual basis.   

Note: I am much more concerned with disclosure of voting records than I am 
with voting policies.   Policies are subject to interpretation.  Votes are not.

I understand that some investment companies argue that by disclosing their 
voting records, they may alienate the managers of companies whose proposals 
they vote against, and thus make access to information from these managers 
more difficult to obtain.   I don't find this argument at all compelling.   
I am far more concerned with the real conflict of interests that can arise 
when investment companies don't disclose their voting records.   Basically, 
I want to know that my investment company is taking a good hard look at 
management proposals and voting in a way that best serves shareholder interests.   
Full disclosure will go a long way to providing this.

Sincerely,

Robert M. Segal
No professional association.  
I am an independent investor from the Bronx, NY.
email: stravon@prodigy.net