Subject: File No. S7-03-06
From: Tim Murphy

May 12, 2006

Hello, I learned of this Proposed Rule on Executive Compensation and Related Party Disclosure just today, through a popular web site news article. I extend my enthusiastic support for the rule, as it would serve to bring very pertinent information to the attention of debt holders, investors, and other interested parties. Thank you for initiating this proposal, and I look forward to its adoption.