diff --git a/TODO-RELEASE b/TODO-RELEASE
index e34817043..52e9b73ec 100644
--- a/TODO-RELEASE
+++ b/TODO-RELEASE
@@ -28,6 +28,9 @@ To get fixed in 7.11.2 (planned release May/June 2004)
 27. Put the version defines in their own header file, so that lib/libcurl.rc
     can include only that to reduce problems with MSVC.
 
+28. Optimize the way libcurl uses CWD on each new request over a persistent
+    connection (on FTP) even if it doesn't have to.
+
 To get fixed in 7.12.0
 ======================