INSTITUTE LETTER ON NYSE PROPOSED RULE CHANGE RELATING TO CLOSED-END FUND LISTING CRITERIA AND ALLOCATION POLICIES

[14703] May 7, 2002 TO: CLOSED-END INVESTMENT COMPANY COMMITTEE No. 21-02 RE: INSTITUTE LETTER ON NYSE PROPOSED RULE CHANGE RELATING TO CLOSED- END FUND LISTING CRITERIA AND ALLOCATION POLICIES As we previously informed you,1 the New York Stock Exchange has filed a proposed rule change relating to amendments to the initial listing standards and allocation policy for closed-end funds. The Institute has filed a comment letter with the Securities and Exchange Commission supporting the proposal. A copy of the letter, which is substantially similar to the draft letter previously circulated to the Committee, is attached. If you have any questions, please contact the undersigned by phone at (202) 371-5408 or by e-mail at aburstein@ici.org. Ari Burstein Associate Counsel Attachment Attachment (in .pdf format) 1 See Memorandum to Closed-End Investment Company Committee, No. 17-02, dated April 25, 2002.