Subject: Reference File No. S7-5-99, Re Proposal of Amendments to Rul Author: Date: 4/29/99 5:41 PM The proposed amendment imposes regulatory oversight on market makers which will make it cost prohibitive to quote smaller less actively traded securities. This proposal will have a disastrous effect on smaller companies. We are not in favor of such an amendment. George Wuagneux President/CEO Biltmore Vacation Resorts, Inc.