CONFERENCE CALL TO DISCUSS FLOW THROUGH OF SHORT-TERM GAINS AND INTEREST TO FOREIGN SHAREHOLDERS AND FIRPTA

[18104] October 14, 2004 TO: TAX COMMITTEE No. 32-04 RE: CONFERENCE CALL TO DISCUSS FLOW THROUGH OF SHORT-TERM GAINS AND INTEREST TO FOREIGN SHAREHOLDERS AND FIRPTA A Tax Committee conference call has been scheduled for Wednesday, October 20th, at 2:00 p.m. (EDT) to discuss the provisions in the American Jobs Creation Act of 2004 (“the Act”) that provide flow-through treatment for short-term gains and interest paid to foreign shareholders in regulated investment companies (“RICs”) and apply the Foreign Investment in Real Property Tax Act of 1980 (“FIRPTA”) provisions to certain RIC distributions. A memorandum discussing these provisions, and others in the Act of interest to the industry, will be distributed in advance of the call. If you would like to participate in the call, please complete the attached response form and fax or e-mail it to Ezella Wynn by Tuesday, October 19th at noon. Catherine Barré Associate Counsel Attachment (in .pdf format)