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Subject:  Re: IRA Transfer - That was easy! Date:  1/4/2000  12:48 PM
Author:  rjm1 Number:  17319 of 88532

I've just had a suprisingly pleasant experience in transferring an IRA account from one
fund family to another. On 12/15/99 I decided I wanted out of the underperforming T.
Rowe Price Equity Income Fund and that I wanted to move the IRA to Vanguard's
500 Index and Small Cap Index funds. I called Vanguard and asked them to send me
the forms. The forms arrived in two days. On 12/23 I mailed the forms to Vanguard.
On 12/30 the T.R. Price web site showed that the shares in Equity Income had been
redeemed. On 12/31 the Vanguard web site showed the funds had been invested in
the two funds I requested. I had heard that these types of transfers sometimes take
many weeks to complete. In this case, despite the holidays and Y2K, the whole
process took less than two weeks (one week was taken up by me filling out the
forms). I have been dealing with both of these fund families for many years and both
are class acts. Maybe I was just lucky this time but I think these two companies did a
great job.

I have done a few transfers and it usualy takes a couple of weeks. I think the paper work sits on the originating co's "desk" and once the process is actual started it goes pretty fast.
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