PROPOSED WITHDRAWAL OF SEC NO-ACTION LETTER PERMITTING OMISSION OF SALES LOAD DISCLOSURE ON CONFIRMATION

April 6, 1994 TO: MARKETING POLICY COMMITTEE NO. 18-94 SALES FORCE MARKETING COMMITTEE NO. 12-94 RE: Proposed Withdrawal of SEC No-Action Letter Permitting Omission of Sales Load Disclosure on Confirmation __________________________________________________________ Enclosed for your information is a memorandum on this subject previously sent to the Institute's Operations, SEC Rules and Transfer Agent Advisory Committees. C. Richard Pogue Executive Vice President