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SEC Staff to Release Comment Letters, Responses

The SEC staff announced that it will begin the process of publicly releasing comment letters and response letters relating to disclosure filings on May 12, 2005. Filings made after August 1, 2004, and reviewed by the Divisions of Corporation Finance and Investment Management will be subject to public release.

Comment letters and responses relating to reviewed disclosure filings will be released individually on a filing-by-filing basis through the EDGAR system. The SEC stated that the process will begin with the oldest eligible filings. Letters will generally not be released earlier than 45 days after the review of the disclosure filing is complete.