Date:    03/21/2000  3:44 PM

Subject: Proposed Regulation FD

Gentlemen:
     
I wish to comment on the SEC proposal for full public disclosure rather 
than selective disclosure of information by publicly traded companies.
     
The argument has been raised that this would add an additional burden to 
these companies.  I believe this argument to be specious.  Since most 
companies practice selective disclosure, the only additional burden is 
to freely publish the information rather than attempt to selectively 
disclose it.  With the advent of the Internet, such public disclosure is 
trivially simple and essentially zero cost.
     
As a private investor in the public markets, I believe I am as entitled 
to information about upcoming earnings statements, and other items now 
disclosed selectively, as any other investor or investment firm, 
regardless of size.
     
Freedom of information, such as is proposed by the SEC, is not only in 
the spirit of American tradition, it is a great leveler between the 
haves and have-nots of timely investment related information.
     
I strongly support the SEC proposal.
     
Sincerely,
     
Lyle Johnson
     
Disclosure: I am not employed by any securities company, nor do I have 
any professional relationship to any securities or investment firm, 
except as a customer in the context of being a private investor.