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August 11, 2006 SEC Chairman Christopher Cox Dear SEC Chairman Cox, My wife and I own shares in several mutual funds. We believe that it would be in our best interest, and in the best interest of most investors in mutual funds, if the boards of such funds were required [i] to have an independent chair and [ii] to be composed of directors at least three-quarters of whom were independent. Sincerely,
Lawrence C. Foard
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