From: Will Connell [edconco@gv.net]
Sent: Thursday, March 18, 2004 12:53 PM
To: rule-comments@sec.gov
Subject: S7-11-04:

Gentlemen:

By posting your rule change (S7-11-04) for mutual fund redemptions on 
5 March and demanding all comments to be submitted prior to 10 March 
appears to be a device to hinder investors in maintaining flexibility 
in their fund investing.  It is a serious violation of information 
flow that such a short window is mandated. It has a ramrod sense to 
it!

Such a mandatory 2% redemption if exercised within five days of 
purchase will only hold investors hostage to the mutual fund 
industry.  If implemented, such a rule will only INCREASE investor 
losses once markets become unstable, as surely they will.  No doubt 
the proposed redemption rule is intended to make markets more stable, 
but it will offer serious unintended consequences to the marketplace.

Implementation of such a rule (22c-2) is outrageous, especially as 
the proposal comes from the SEC!  It suggests that the SEC is in 
league with the mutual fund industry.

Sincerely,

Will Connell
PO Box 357
Grass Valley
CA 95945
530-268-2580