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To: steve phil who wrote (55878)	9/28/2007 12:21:40 PM
From: tom pope	Respond to of 118717

I've seen a service fee charged on dividends with Merrill. For example: 8/10/2007 RDY CERTIF FEE -18.50 DR REDDY'S LAB LTD ADR DEPOSITORY BANK SVCE FEE 8/10/2007 RDY RPT FGN DIV 92.90 DR REDDY'S LAB LTD ADR HOLDING 1000.0000 PAY DATE 08/10/2007

To: steve phil who wrote (55878)	9/30/2007 9:39:16 AM
From: Lynn	Respond to of 118717

Schwab sent everyone who holds ADRs the following e-mail on May 18, 2007: We are writing to you because you have purchased an ADR (American Depositary Receipt) through Schwab. We appreciate the opportunity to help you with your investing, and want you to know about a change in the way ADR agents collect fees. What has occurred. As an ADR investor, you may already know that the banks that custody ADRs (“ADR agents”) are permitted to charge a custody fee. The amount and timing of custody fees are detailed in your ADR prospectus. (See below for information on obtaining your prospectus.) In the past, ADR agents could collect fees only when they were able to subtract them from ADR dividends. Since many ADRs do not pay periodic dividends, agents were often unable to collect their fees. Last year, the Depository Trust Company (DTC) received SEC approval to start collecting custody fees on behalf of ADR agents for ADRs that do not pay periodic dividends. To collect the fees owed by ADR investors, the DTC has started charging companies like Schwab that hold ADRs for their clients. Fees charged to Schwab by the DTC are referred to as “ADR pass-through fees.” What this means for your account. Starting July 10, 2007, fees collected from Schwab by the DTC will be automatically passed through to you. They will be deducted from your Schwab account(s) and shown on your statement(s). Pass-through fees are deducted from your account for your ADRs that do not pay dividends. For dividend-paying ADRs, agents will continue to deduct their fees from your dividends as they have in the past. Going forward, both types of ADR fees will be shown on your statement as “ADR Pass Thru Fee.” ADR fees normally average from one to three cents per share. Fee amounts and timing differ by ADR. Your ADR prospectus contains information specific to the ADRs you hold. Your next steps. Please review your ADR prospectus for complete information about ADR fees. Read more or find your prospectus. Should this change affect your decision to hold ADRs, we would be happy to discuss your alternatives. Please call us at 800-435-4000 . [end copy/paste] Here's a link in the Schwab e-mail that does not show in my copy/paste: schwab.com FWIW, these yearly, even penny, fees are enough for me (as a LTB&H type) to buy local shares at times. Taking SZNTF.PK, which I do not hold but some people started to buy at .50/share, even a $5,000. investment would result in a $100-300 yearly fee!! I'd rather buy local shares and pay higher commissions on both ends. Lynn