Subject: File No. S7-38-04
From: Bernhard Krieg, CFA

January 12, 2005

We consider the netroadshow an extremely important tool for our investment research. As a mid-size investment firms we are often left out of the one-on-one as more sought after roadshow. A change in rules governing this would be a great loss and dissadvantage to smaller investment firms. I thought the idea is to LEVEL the playing field...

Thank you for your attention.

Bernhard Krieg, CFA
Haven Funds