From: John Valaas [John.Valaas@firstmutual.com]
Sent: Saturday, April 27, 2002 11:46 AM
To: rule-comments@sec.gov
Subject: File No. S7-09-02

I would like to register my objection to the proposed rule change regarding Form 8-K 
disclosure of certain management transactions.  This is a knee-jerk reaction to a 
well-publicized corporate governance problem in one particular company.  This will 
put an undue filing burden on a small company such as ours, and I urge that you NOT 
adopt it.

Thank you.

John R. Valaas
President and CEO
First Mutual Bancshares