Subject: File No. S7-38-04
From: Piers Monckton
Affiliation: Mark Capital LLP

January 11, 2005

I manage an overseas investment fund that specialises in US equities. I am based in London in the United Kingdom and am thus most often unable to attend domestic roadshows for new equity offerings. I find the Internet Roadshow facility an invaluable aid to decision making and would urge you not to change the rules about PowerPoint slides used on Internet roadshows as it would substantially reduce the information available to me and consequently reduce my appetite for US equity issues.

Regards

Piers Monckton Mark Capital LLP
24c Old Burlington Street
London
W1S 3AU
UNITED KINGDOM
Tel: +44 20 7734 9663
Fax: +44 20 7734 9338
Email: piers@markcapital.co.uk

Mark Capital LLP is authorised and regulated by the Financial Services Authority