Putnam Equity Income Fund NPX Annual report of proxy voting record

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-2742

Putnam Equity Income Fund
- -------------------------------------------------------------------------
  (Exact name of registrant as specified in charter)

One Post Office Square

Boston, Massachusetts 02109
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  (Address of principal executive offices)

Beth S. Mazor, Vice President

Putnam Equity Income Fund

One Post Office Square

Boston, Massachusetts 02109



Copy To:

John W. Gerstmayr, Esq.

Ropes & Gray LLP

One International Place

Boston, Massachusetts 02110
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  (Name and address of agent for service)


Registrant's telephone number, including area code: (617) 292-1000

Date of Fiscal year-end: 11/30/2005

Date of reporting period: 7/1/2004 - 6/30/2005

Item 1. Proxy Voting Record

Account Number: Putnam Equity Income Fund

ISSUER NAME		TICKER	CUSIP	MTG DATE	MTG TYPE
				Proposal Type	Voted	Vote	For/Agnst Mgmt
*Abbott Laboratories*		*ABT*	*002824100*	*4/22/05*	*Annual*
1.01	Elect Roxanne S. Austin			MGMT	YES	FOR	FOR
1.02	Elect William M. Daley			MGMT	YES	FOR	FOR
1.03	Elect H. Laurance Fuller			MGMT	YES	FOR	FOR
1.04	Elect Richard A. Gonzalez			MGMT	YES	FOR	FOR
1.05	Elect Jack M. Greenberg			MGMT	YES	FOR	FOR
1.06	Elect Jeffrey M. Leiden			MGMT	YES	FOR	FOR
1.07	Elect David Owen			MGMT	YES	FOR	FOR
1.08	Elect Boone Powell Jr.			MGMT	YES	FOR	FOR
1.09	Elect Addison Barry Rand			MGMT	YES	FOR	FOR
1.10	Elect W. Ann Reynolds			MGMT	YES	FOR	FOR
1.11	Elect Roy S. Roberts			MGMT	YES	FOR	FOR
1.12	Elect William D. Smithburg			MGMT	YES	FOR	FOR
1.13	Elect John R. Walter			MGMT	YES	FOR	FOR
1.14	Elect Miles D. White			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
4.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
5.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
6.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
7.00	Review AIDS pandemic's impact on company			SHLDR	YES	AGNST	FOR
8.00	Independent board chairman			SHLDR	YES	AGNST	FOR

*ACE Ltd*			*G0070K103*	*5/26/05*	*Annual*
1.01	Elect Evan G. Greenberg			MGMT	YES	FOR	FOR
1.02	Elect John A. Krol			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Alcoa Inc*		AA	*013817101*	*4/22/05*	*Annual*
1.01	Elect Joseph T. Gorman			MGMT	YES	FOR	FOR
1.02	Elect Klaus Kleinfeld			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Altria Group Inc*		MO	*02209S103*	*4/28/05*	*Annual*
1.01	Elect Elizabeth E. Bailey			MGMT	YES	FOR	FOR
1.02	Elect Harold Brown			MGMT	YES	FOR	FOR
1.03	Elect Mathis Cabiallavetta			MGMT	YES	FOR	FOR
1.04	Elect Loius C. Camilleri			MGMT	YES	FOR	FOR
1.05	Elect Dudley Fishburn			MGMT	YES	FOR	FOR
1.06	Elect Robert E.R. Huntley			MGMT	YES	FOR	FOR
1.07	Elect Thomas W. Jones			MGMT	YES	FOR	FOR
1.08	Elect George Munoz			MGMT	YES	FOR	FOR
1.09	Elect Lucio A. Noto			MGMT	YES	FOR	FOR
1.10	Elect John S. Reed			MGMT	YES	FOR	FOR
1.11	Elect Carlos Slim Helu			MGMT	YES	FOR	FOR
1.12	Elect Stephen M. Wolf			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Performance Incentive Plan			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Stock Compensation Plan for Non-Employee Directors			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
6.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR
7.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR
8.00	Review or reduce tobacco harm to health			SHLDR	YES	AGNST	FOR

*Amerada Hess Corp*		*AHC*	*023551104*	*5/4/05*	*Annual*
1.01	Elect Edith E. Holiday			MGMT	YES	FOR	FOR
1.02	Elect John J. O'Connor			MGMT	YES	FOR	FOR
1.03	Elect F. Borden Walker			MGMT	YES	FOR	FOR
1.04	Elect Robert N. Wilson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*AON Corp*		*AOC*	*037389103*	*5/20/05*	*Annual*
1.01	Elect Patrick G. Ryan			MGMT	YES	FOR	FOR
1.02	Elect Gregory C. Case			MGMT	YES	FOR	FOR
1.03	Elect Edgar D. Jannotta			MGMT	YES	FOR	FOR
1.04	Elect Jan Kalff			MGMT	YES	WHOLD	AGNST
1.05	Elect Lester B. Knight			MGMT	YES	FOR	FOR
1.06	Elect J. Michael Losh			MGMT	YES	WHOLD	AGNST
1.07	Elect R. Eden Martin			MGMT	YES	FOR	FOR
1.08	Elect Andrew J. McKenna			MGMT	YES	FOR	FOR
1.09	Elect Robert S. Morrison			MGMT	YES	FOR	FOR
1.10	Elect Richard C. Notebaert			MGMT	YES	FOR	FOR
1.11	Elect John W. Rogers Jr.			MGMT	YES	FOR	FOR
1.12	Elect Gloria Santona			MGMT	YES	FOR	FOR
1.13	Elect Carolyn Y. Woo			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*AutoZone Inc*		*AZO*	*053332102*	*12/16/04*	*Annual*
1.01	Elect Charles M. Elson			MGMT	YES	FOR	FOR
1.02	Elect Earl G. Graves Jr.			MGMT	YES	FOR	FOR
1.03	Elect N. Gerry House			MGMT	YES	FOR	FOR
1.04	Elect J.R. Hyde III			MGMT	YES	FOR	FOR
1.05	Elect Edward S. Lampert			MGMT	YES	FOR	FOR
1.06	Elect W. Andrew McKenna			MGMT	YES	FOR	FOR
1.07	Elect Steve Odland			MGMT	YES	FOR	FOR
1.08	Elect James J. Postl			MGMT	YES	FOR	FOR
2.00	Approve Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Avery Dennison Corp*		*AVY*	*053611109*	*4/28/05*	*Annual*
1.01	Elect Peter K. Barker			MGMT	YES	FOR	FOR
1.02	Elect Richard M. Ferry			MGMT	YES	FOR	FOR
1.03	Elect Kent Kresa			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR

*AXIS Capital Holdings Ltd*		*AXS*	*G0692U109*	*12/9/04*	*Special*
1.00	Amend Board Powers/Procedures/Qualifications			MGMT	YES	FOR	FOR
	Amend Articles--Technical
	Amend Byelaws Regarding Subsidiary Business
2.00	Amend Board Powers/Procedures/Qualifications			MGMT	YES	FOR	FOR
	Amend Board/Supervisory Board Size
	Amend Subsidiary Byelaws
3.00	Amend Subsidiary Byelaws			MGMT	YES	FOR	FOR
	Amend Board Powers/Procedures/Qualifications
4.00	Amend Meeting Procedures/Change Date			MGMT	YES	FOR	FOR
	Amend Subsidiary Byelaws
5.00	Amend Subsidiary Byelaws			MGMT	YES	FOR	FOR
	Allow Subsidiaries to Issue Stock
	Amend Board Powers/Procedures/Qualifications
6.00	Dissolve Company/Approve Liquidation			MGMT	YES	FOR	FOR
7.00	Dissolve Company/Approve Liquidation			MGMT	YES	FOR	FOR

*AXIS Capital Holdings Ltd*		*AXS*	*G0692U109*	*5/5/05*	*Annual*
1.01	Elect Robert L. Friedman			MGMT	YES	FOR	FOR
1.02	Elect Donald J. Greene			MGMT	YES	FOR	FOR
1.03	Elect Jurgen Grupe			MGMT	YES	FOR	FOR
1.04	Elect Frank J. Tasco			MGMT	YES	FOR	FOR
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.00	Approve liquidation			MGMT	YES	FOR	FOR

*Bank of America Corp*		*BAC*	*060505104*	*4/27/05*	*Annual*
1.01	Elect William Barnet III			MGMT	YES	FOR	FOR
1.02	Elect Charles W. Coker			MGMT	YES	FOR	FOR
1.03	Elect John T. Collins			MGMT	YES	FOR	FOR
1.04	Elect Gary L. Countryman			MGMT	YES	FOR	FOR
1.05	Elect Paul Fulton			MGMT	YES	FOR	FOR
1.06	Elect Charles K. Gifford			MGMT	YES	FOR	FOR
1.07	Elect W. Steven Jones			MGMT	YES	FOR	FOR
1.08	Elect Kenneth D. Lewis			MGMT	YES	WHOLD	AGNST
1.09	Elect Walter E. Massey			MGMT	YES	FOR	FOR
1.10	Elect Thomas J. May			MGMT	YES	FOR	FOR
1.11	Elect Patricia E. Mitchell			MGMT	YES	FOR	FOR
1.12	Elect Edward L. Romero			MGMT	YES	FOR	FOR
1.13	Elect Thomas M. Ryan			MGMT	YES	FOR	FOR
1.14	Elect O. Temple Sloan Jr.			MGMT	YES	FOR	FOR
1.15	Elect Meredith R. Spangler			MGMT	YES	FOR	FOR
1.16	Elect Robert L. Tillman			MGMT	YES	FOR	FOR
1.17	Elect Jacquelyn M. Ward			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
4.00	Double board nominees			SHLDR	YES	AGNST	FOR

*Bank of New York Co Inc*		BK	*064057102*	*4/12/05*	*Annual*
1.01	Elect Frank J. Biondi Jr.			MGMT	YES	FOR	FOR
1.02	Elect Nicholas M. Donofrio			MGMT	YES	FOR	FOR
1.03	Elect Gerald L. Hassell			MGMT	YES	FOR	FOR
1.04	Elect Richard J. Kogan			MGMT	YES	FOR	FOR
1.05	Elect Michael J. Kowalski			MGMT	YES	FOR	FOR
1.06	Elect John A. Luke Jr.			MGMT	YES	FOR	FOR
1.07	Elect John C. Malone			MGMT	YES	WHOLD	AGNST
1.08	Elect Paul Myners			MGMT	YES	FOR	FOR
1.09	Elect Catherine A. Rein			MGMT	YES	FOR	FOR
1.10	Elect Thomas A. Renyi			MGMT	YES	FOR	FOR
1.11	Elect William C. Richardson			MGMT	YES	FOR	FOR
1.12	Elect Brian L. Roberts			MGMT	YES	FOR	FOR
1.13	Elect Samuel C. Scott III			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Baxter International Inc*		*BAX*	*071813109*	*5/3/05*	*Annual*
1.01	Elect Blake E. Devitt			MGMT	YES	FOR	FOR
1.02	Elect Joseph B. Martin			MGMT	YES	FOR	FOR
1.03	Elect Robert L. ParkinsonJr.			MGMT	YES	FOR	FOR
1.04	Elect Thomas T. Stallkamp			MGMT	YES	FOR	FOR
1.05	Elect Albert.P.L. Stroucken			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
4.00	Limit non-audit fees			SHLDR	YES	AGNST	FOR
5.00	Repeal classified board			SHLDR	YES	FOR	N/A

*BellSouth Corp*		*BLS*	*079860102*	*4/25/05*	*Annual*
1.01	Elect F. Duane Ackerman			MGMT	YES	FOR	FOR
1.02	Elect Reuben V. Anderson			MGMT	YES	FOR	FOR
1.03	Elect James H. Blanchard			MGMT	YES	FOR	FOR
1.04	Elect J. Hyatt Brown			MGMT	YES	FOR	FOR
1.05	Elect Armando M. Codina			MGMT	YES	FOR	FOR
1.06	Elect Kathleen F. Feldstein			MGMT	YES	FOR	FOR
1.07	Elect James P. Kelly			MGMT	YES	FOR	FOR
1.08	Elect Leo F. Mullin			MGMT	YES	FOR	FOR
1.09	Elect William S. Stavropoulos			MGMT	YES	FOR	FOR
1.10	Elect Robin B. Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR

*Berkshire Hathaway*			*084670207*	*4/30/05*	*Annual*
1.01	Elect Warren E. Buffett			MGMT	YES	FOR	FOR
1.02	Elect Charles T. Munger			MGMT	YES	FOR	FOR
1.03	Elect Howard G. Buffett			MGMT	YES	FOR	FOR
1.04	Elect Malcolm G. Chace III			MGMT	YES	WHOLD	AGNST
1.05	Elect William H. Gates III			MGMT	YES	FOR	FOR
1.06	Elect David S. Gottesman			MGMT	YES	FOR	FOR
1.07	Elect Charlotte Guyman			MGMT	YES	FOR	FOR
1.08	Elect Donald R. Keough			MGMT	YES	FOR	FOR
1.09	Elect Thomas S. Murphy			MGMT	YES	FOR	FOR
1.10	Elect Ronald L. Olson			MGMT	YES	WHOLD	AGNST
1.11	Elect Walter Scott Jr.			MGMT	YES	WHOLD	AGNST
2.00	Amend dual class common stock			MGMT	YES	FOR	FOR
3.00	Amend dual class common stock			MGMT	YES	FOR	FOR

*Boeing Co*		BA	*097023105*	*5/2/05*	*Annual*
1.01	Elect Kenneth M. Duberstein			MGMT	YES	WHOLD	AGNST
1.02	Elect W. James McNerney Jr.			MGMT	YES	WHOLD	AGNST
1.03	Elect Lewis E. Platt			MGMT	YES	WHOLD	AGNST
1.04	Elect Mike S. Zafirovski			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Develop/report on human rights policy			SHLDR	YES	AGNST	FOR
4.00	Review military contracting criteria			SHLDR	YES	AGNST	FOR
5.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
6.00	Repeal classified board			SHLDR	YES	FOR	AGNST
7.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST
8.00	Majority vote shareholder committee			SHLDR	YES	AGNST	FOR
9.00	Independent board chairman			SHLDR	YES	AGNST	FOR

*BP PLC*		BP	*055622104*	*4/14/05*	*Annual*
1.01	Elect David C. Allen			MGMT	YES	AGNST	AGNST
1.02	Elect Lord John P. Browne of Madingley			MGMT	YES	AGNST	AGNST
1.03	Elect John H. Bryan			MGMT	YES	AGNST	AGNST
1.04	Elect Antony Burgmans			MGMT	YES	AGNST	AGNST
1.05	Elect Iain Conn			MGMT	YES	AGNST	AGNST
1.06	Elect Erroll B. Davis JR.			MGMT	YES	AGNST	AGNST
1.07	Elect Douglas J. Flint			MGMT	YES	AGNST	AGNST
1.08	Elect Byron E. Grote			MGMT	YES	AGNST	AGNST
1.09	Elect Anthony B. Hayward			MGMT	YES	AGNST	AGNST
1.10	Elect DeAnne S. Julius			MGMT	YES	AGNST	AGNST
1.11	Elect Sir Thomas F. McKillop			MGMT	YES	AGNST	AGNST
1.12	Elect John A. Manzoni			MGMT	YES	AGNST	AGNST
1.13	Elect Walter E. Massey			MGMT	YES	AGNST	AGNST
1.14	Elect H.M. Miles			MGMT	YES	AGNST	AGNST
1.15	Elect Sir Ian M. Prosser			MGMT	YES	AGNST	AGNST
1.16	Elect Michael H Wilson			MGMT	YES	AGNST	AGNST
1.17	Elect Peter D. Sutherland			MGMT	YES	AGNST	AGNST
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Issue stock w/ preemptive rights			MGMT	YES	FOR	FOR
4.00	Issue stock w/o preemptive rights			MGMT	YES	FOR	FOR
5.00	Authorize share repurchase			MGMT	YES	FOR	FOR
6.00	Approve remuneration policy			MGMT	YES	FOR	FOR
7.00	Approve executive profit sharing/bonus plan			MGMT	YES	FOR	FOR
8.00	Approve financial statements			MGMT	YES	FOR	FOR

*Canadian National Railway Co*			*136375102*	*4/21/05*	*Annual*
1.01	Elect Michael R. Armellino			MGMT	YES	FOR	FOR
1.02	Elect A. Charles Baillie			MGMT	YES	FOR	FOR
1.03	Elect Hugh J. Bolton			MGMT	YES	FOR	FOR
1.04	Elect Purdy Crawford			MGMT	YES	FOR	FOR
1.05	Elect J.V. Raymond Cyr			MGMT	YES	FOR	FOR
1.06	Elect Gordon D. Giffin			MGMT	YES	FOR	FOR
1.07	Elect James K. Gray			MGMT	YES	FOR	FOR
1.08	Elect E. Hunter Harrison			MGMT	YES	FOR	FOR
1.09	Elect Edith E. Holiday			MGMT	YES	FOR	FOR
1.10	Elect V. Maureen Kempston Darkes			MGMT	YES	FOR	FOR
1.11	Elect Gilbert H. Lamphere			MGMT	YES	FOR	FOR
1.12	Elect Denis Losier			MGMT	YES	FOR	FOR
1.13	Elect Edward C. Lumley			MGMT	YES	FOR	FOR
1.14	Elect David G.A. McLean			MGMT	YES	FOR	FOR
1.15	Elect Robert Pace			MGMT	YES	FOR	FOR
2.00	Appoint outside auditors			MGMT	YES	FOR	FOR
3.00	Amend stock option plan			MGMT	YES	FOR	FOR

*Capital One Financial Corp*		*COF*	*14040H105*	*4/28/05*	*Annual*
1.01	Elect Patrick W. Gross			MGMT	YES	FOR	FOR
1.02	Elect Ann Fritz Hackett			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Cendant Corp*		CD	*151313103*	*4/26/05*	*Annual*
1.01	Elect Myra J. Biblowit			MGMT	YES	FOR	FOR
1.02	Elect Leonard S. Coleman			MGMT	YES	FOR	FOR
1.03	Elect Cheryl D. Mills			MGMT	YES	FOR	FOR
1.04	Elect M. Brian Mulroney			MGMT	YES	WHOLD	AGNST
1.05	Elect Robert E. Nederlander			MGMT	YES	FOR	FOR
1.06	Elect Ronald L. Nelson			MGMT	YES	FOR	FOR
1.07	Elect Robert W. Pittman			MGMT	YES	FOR	FOR
1.08	Elect Pauline D.E. Richards			MGMT	YES	FOR	FOR
1.09	Elect Sheli Z. Rosenberg			MGMT	YES	FOR	FOR
1.10	Elect Robert F. Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend deferred compensation plan			MGMT	YES	FOR	FOR
4.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
5.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
6.00	Golden parachutes			SHLDR	YES	AGNST	FOR

*Chevron Corp*		*CVX*	*166764100*	*4/27/05*	*Annual*
1.01	Elect Samuel H. Armacost			MGMT	YES	FOR	FOR
1.02	Elect Robert E. Denham			MGMT	YES	FOR	FOR
1.03	Elect Robert J. Eaton			MGMT	YES	FOR	FOR
1.04	Elect Samuel L. Ginn			MGMT	YES	FOR	FOR
1.05	Elect Carla A. Hills			MGMT	YES	FOR	FOR
1.06	Elect Franklyn G. Jenifer			MGMT	YES	FOR	FOR
1.07	Elect Samuel A. Nunn Jr.			MGMT	YES	FOR	FOR
1.08	Elect David J. O'Reilly			MGMT	YES	FOR	FOR
1.09	Elect Peter J. Robertson			MGMT	YES	FOR	FOR
1.10	Elect Charles R. Shoemate			MGMT	YES	FOR	FOR
1.11	Elect Ronald.D. Sugar			MGMT	YES	FOR	FOR
1.12	Elect Carl Ware			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict director compensation			SHLDR	YES	AGNST	FOR
4.00	Golden parachutes			SHLDR	YES	AGNST	FOR
5.00	Expense stock options			SHLDR	YES	AGNST	FOR
6.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
7.00	Preserve/report on natural habitat			SHLDR	YES	AGNST	FOR
8.00	Control generation of pollutants			SHLDR	YES	AGNST	FOR

*Chubb Corp*		CB	*171232101*	*4/26/05*	*Annual*
1.01	Elect Zoe Baird			MGMT	YES	FOR	FOR
1.02	Elect Sheila P. Burke			MGMT	YES	WHOLD	AGNST
1.03	Elect James I. Cash Jr.			MGMT	YES	FOR	FOR
1.04	Elect Joel J. Cohen			MGMT	YES	FOR	FOR
1.05	Elect James M. Cornelius			MGMT	YES	FOR	FOR
1.06	Elect John D. Finnegan			MGMT	YES	FOR	FOR
1.07	Elect Klaus J. Mangold			MGMT	YES	FOR	FOR
1.08	Elect David G. Scholey			MGMT	YES	FOR	FOR
1.09	Elect Raymond G. H. Seitz			MGMT	YES	FOR	FOR
1.10	Elect Lawrence M. Small			MGMT	YES	WHOLD	AGNST
1.11	Elect Daniel E. Somers			MGMT	YES	FOR	FOR
1.12	Elect Karen Hastie Williams			MGMT	YES	FOR	FOR
1.13	Elect Alfred W. Zollar			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Cigna Corp*		CI	*125509109*	*4/27/05*	*Annual*
1.01	Elect Peter N. Larson			MGMT	YES	FOR	FOR
1.02	Elect Carol Cox Wait			MGMT	YES	FOR	FOR
1.03	Elect William D. Zollars			MGMT	YES	FOR	FOR
1.04	Elect Marilyn Ware			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Citigroup Inc*		C	*172967101*	*4/19/05*	*Annual*
1.01	Elect C. Michael Armstrong			MGMT	YES	FOR	FOR
1.02	Elect Alain J.P. Belda			MGMT	YES	FOR	FOR
1.03	Elect George David			MGMT	YES	FOR	FOR
1.04	Elect Kenneth T. Derr			MGMT	YES	FOR	FOR
1.05	Elect John Deutch			MGMT	YES	FOR	FOR
1.06	Elect Roberto H. Ramirez			MGMT	YES	FOR	FOR
1.07	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.08	Elect Klaus Kleinfeld			MGMT	YES	FOR	FOR
1.09	Elect Dudley C. Mecum II			MGMT	YES	FOR	FOR
1.10	Elect Anne M. Mulcahy			MGMT	YES	FOR	FOR
1.11	Elect Richard D. Parsons			MGMT	YES	FOR	FOR
1.12	Elect Charles Prince			MGMT	YES	FOR	FOR
1.13	Elect Judith Rodin			MGMT	YES	FOR	FOR
1.14	Elect Robert E. Rubin			MGMT	YES	FOR	FOR
1.15	Elect Franklin A. Thomas			MGMT	YES	FOR	FOR
1.16	Elect Sanford I. Weill			MGMT	YES	FOR	FOR
1.17	Elect Robert B. Willumstad			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
6.00	Independent board chairman			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
8.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
9.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
10.00	Eliminate supermajority provision			SHLDR	YES	AGNST	FOR

*Coca-Cola Enterprises*		*CCE*	*191219104*	*4/29/05*	*Annual*
1.01	Elect Fernando Aguirre			MGMT	YES	FOR	FOR
1.02	Elect James E. Copeland Jr.			MGMT	YES	FOR	FOR
1.03	Elect Irial Finan			MGMT	YES	FOR	FOR
1.04	Elect Summerfield K Johnston III			MGMT	YES	FOR	FOR
2.00	Adopt the Executive Management Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
4.00	Golden parachutes			SHLDR	YES	AGNST	FOR
5.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
6.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Colgate-Palmolive Co*		CL	*194162103*	*5/4/05*	*Annual*
1.01	Elect Jill K. Conway			MGMT	YES	FOR	FOR
1.02	Elect Ronald E. Ferguson			MGMT	YES	FOR	FOR
1.03	Elect Ellen M. Hancock			MGMT	YES	FOR	FOR
1.04	Elect David W. Johnson			MGMT	YES	FOR	FOR
1.05	Elect Richard J. Kogan			MGMT	YES	FOR	FOR
1.06	Elect Delano E. Lewis			MGMT	YES	FOR	FOR
1.07	Elect Reuben Mark			MGMT	YES	FOR	FOR
1.08	Elect Elizabeth A. Monrad			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Adopt Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Computer Associates International Inc*		CA	*204912109*	*8/25/04*	*Annual*
1.01	Elect Russell M. Artzt			MGMT	YES	FOR	FOR
1.02	Elect Kenneth Cron			MGMT	YES	FOR	FOR
1.03	Elect Alfonse M. D'Amato			MGMT	YES	FOR	FOR
1.04	Elect Gary J. Fernandes			MGMT	YES	FOR	FOR
1.05	Elect Robert E. La Blanc			MGMT	YES	FOR	FOR
1.06	Elect Jay W. Lorsch			MGMT	YES	FOR	FOR
1.07	Elect Lewis S. Ranieri			MGMT	YES	FOR	FOR
1.08	Elect Walter P. Schuetze			MGMT	YES	FOR	FOR
1.09	Elect Laura S. Unger			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Restrict Executive Compensation			SHLDR	YES	AGNST	FOR

*Countrywide Financial Corp*		*CFC*	*222372104*	*8/17/04*	*Special*
1.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR

*Countrywide Financial Corp*		*CFC*	*222372104*	*6/15/05*	*Annual*
1.01	Elect Angelo R. Mozilo			MGMT	YES	FOR	FOR
1.02	Elect Stanford L. Kurland			MGMT	YES	FOR	FOR
1.03	Elect Oscar P. Robertson			MGMT	YES	FOR	FOR
1.04	Elect Keith P. Russell			MGMT	YES	FOR	FOR
2.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Darden Restaurants Inc*		*DRI*	*237194105*	*9/29/04*	*Annual*
1.01	Elect Leonard L. Berry			MGMT	YES	FOR	FOR
1.02	Elect Odie C. Donald			MGMT	YES	FOR	FOR
1.03	Elect David H. Hughes			MGMT	YES	FOR	FOR
1.04	Elect Joe R. Lee			MGMT	YES	FOR	FOR
1.05	Elect Connie Mack III			MGMT	YES	FOR	FOR
1.06	Elect Andrew H. Madsen			MGMT	YES	FOR	FOR
1.07	Elect Clarence Otis Jr.			MGMT	YES	FOR	FOR
1.08	Elect Michael D. Rose			MGMT	YES	FOR	FOR
1.09	Elect Maria A. Sastre			MGMT	YES	FOR	FOR
1.10	Elect Jack A. Smith			MGMT	YES	FOR	FOR
1.11	Elect Blaine Sweatt III			MGMT	YES	FOR	FOR
1.12	Elect Rita P. Wilson			MGMT	YES	FOR	FOR
2.00	Adopt Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Disney (Walt) Co*		*DIS*	*254687106*	*2/11/05*	*Annual*
1.01	Elect John E. Bryson			MGMT	YES	FOR	FOR
1.02	Elect John S. Chen			MGMT	YES	FOR	FOR
1.03	Elect Michael D. Eisner			MGMT	YES	FOR	FOR
1.04	Elect Judith L. Estrin			MGMT	YES	FOR	FOR
1.05	Elect Robert A. Iger			MGMT	YES	FOR	FOR
1.06	Elect Aylwin B. Lewis			MGMT	YES	FOR	FOR
1.07	Elect Fred Horst Langhammer			MGMT	YES	FOR	FOR
1.08	Elect Monica C. Lozano			MGMT	YES	FOR	FOR
1.09	Elect Robert W. Matschullat			MGMT	YES	FOR	FOR
1.10	Elect George J. Mitchell			MGMT	YES	FOR	FOR
1.11	Elect Leo J. O'Donovan			MGMT	YES	FOR	FOR
1.12	Elect Gary L. Wilson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Adopt antigreenmail provision			SHLDR	YES	AGNST	FOR
5.00	Review global labor practices			SHLDR	YES	AGNST	FOR

*Dominion Resources Inc*		D	*25746U109*	*4/22/05*	*Annual*
1.01	Elect Peter W. Brown			MGMT	YES	FOR	FOR
1.02	Elect Ronald J. Calise			MGMT	YES	FOR	FOR
1.03	Elect Thomas E. Capps			MGMT	YES	FOR	FOR
1.04	Elect George A. Davidson Jr.			MGMT	YES	FOR	FOR
1.05	Elect Thomas F. Farrell II			MGMT	YES	FOR	FOR
1.06	Elect John W. Harris			MGMT	YES	FOR	FOR
1.07	Elect Robert S. Jepson Jr.			MGMT	YES	FOR	FOR
1.08	Elect Mark J. Kington			MGMT	YES	FOR	FOR
1.09	Elect Benjamin J. Lambert III			MGMT	YES	FOR	FOR
1.10	Elect Richard L. Leatherwood			MGMT	YES	FOR	FOR
1.11	Elect Margaret A. McKenna			MGMT	YES	FOR	FOR
1.12	Elect Kenneth A. Randall			MGMT	YES	FOR	FOR
1.13	Elect Frank S. Royal			MGMT	YES	FOR	FOR
1.14	Elect S. Dallas Simmons			MGMT	YES	FOR	FOR
1.15	Elect David A. Wollard			MGMT	YES	FOR	FOR
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR

*Dover Corp*		*DOV*	*260003108*	*4/19/05*	*Annual*
1.01	Elect David H. Benson			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert W. Cremin			MGMT	YES	FOR	FOR
1.03	Elect Jean-Pierre M. Ergas			MGMT	YES	FOR	FOR
1.04	Elect Kristiane C. Graham			MGMT	YES	FOR	FOR
1.05	Elect Ronald L. Hoffman			MGMT	YES	FOR	FOR
1.06	Elect James L. Koley			MGMT	YES	FOR	FOR
1.07	Elect Richard K. Lochridge			MGMT	YES	FOR	FOR
1.08	Elect Thomas L. Reece			MGMT	YES	FOR	FOR
1.09	Elect Bernard G. Rethore			MGMT	YES	FOR	FOR
1.10	Elect Michael B. Stubbs			MGMT	YES	FOR	FOR
1.11	Elect Mary A. Winston			MGMT	YES	FOR	FOR
2.00	Approve other business			MGMT	YES	AGNST	AGNST

*Dow Chemical*		*DOW*	*260543103*	*5/12/05*	*Annual*
1.01	Elect Jacqueline K. Barton			MGMT	YES	FOR	FOR
1.02	Elect Anthony J. Carbone			MGMT	YES	FOR	FOR
1.03	Elect Barbara Hackman Franklin			MGMT	YES	FOR	FOR
1.04	Elect Andrew N. Liveris			MGMT	YES	FOR	FOR
1.05	Elect Harold T. Shapiro			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Control generation of pollutants			SHLDR	YES	AGNST	FOR

*DTE Energy Co*		*DTE*	*233331107*	*4/28/05*	*Annual*
1.01	Elect Lillian Bauder			MGMT	YES	FOR	FOR
1.02	Elect Josue Robles Jr.			MGMT	YES	FOR	FOR
1.03	Elect Howard F. Sims			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Eaton Corp*		*ETN*	*278058102*	*4/27/05*	*Annual*
1.01	Elect Ned C. Lautenbach			MGMT	YES	FOR	FOR
1.02	Elect John R. Miller			MGMT	YES	FOR	FOR
1.03	Elect Gregory R. Page			MGMT	YES	FOR	FOR
1.04	Elect Victor A. Pelson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Endurance Specialty Holdings*		*ENH*	*G30397106*	*4/27/05*	*Annual*
1.01	Elect Norman Barham			MGMT	YES	FOR	FOR
1.02	Elect Galen R. Barnes			MGMT	YES	FOR	FOR
1.03	Elect William H. Bolinder			MGMT	YES	FOR	FOR
1.04	Elect Brendan R. O'Neill			MGMT	YES	FOR	FOR
1.05	Elect Richard C. Perry			MGMT	YES	FOR	FOR
1.06	Elect Richard P. Schifter			MGMT	YES	FOR	FOR
1.07	Elect Robert A. Spass			MGMT	YES	FOR	FOR
2.01	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.02	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.03	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.04	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.05	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.06	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.07	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.08	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.09	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.10	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.11	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.01	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.02	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.03	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.04	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.05	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.06	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.01	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.02	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.03	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.04	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.05	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
4.06	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
5.01	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
5.02	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
5.03	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
6.00	Approve non-technical bylaw amendments			MGMT	YES	FOR	FOR
7.00	Approve board size			MGMT	YES	FOR	FOR
8.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR
9.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Energizer Holdings Inc*		*ENR*	*29266R108*	*1/25/05*	*Annual*
1.01	Elect Ward M. Klein			MGMT	YES	FOR	FOR
1.02	Elect Richard A. Liddy			MGMT	YES	FOR	FOR
1.03	Elect Joe R. Micheletto			MGMT	YES	FOR	FOR
1.04	Elect W. Patrick McGinnis			MGMT	YES	FOR	FOR
1.05	Elect Bill G. Armstrong			MGMT	YES	FOR	FOR
1.06	Elect John C. Hunter			MGMT	YES	FOR	FOR

*Entergy Corp*		*ETR*	*29364G103*	*5/13/05*	*Annual*
1.01	Elect Maureen S. Bateman			MGMT	YES	FOR	FOR
1.02	Elect W. Frank Blount			MGMT	YES	FOR	FOR
1.03	Elect Simon D. deBree			MGMT	YES	FOR	FOR
1.04	Elect Claiborne P. Deming			MGMT	YES	FOR	FOR
1.05	Elect Alexis M. Herman			MGMT	YES	FOR	FOR
1.06	Elect Donald C. Hintz			MGMT	YES	FOR	FOR
1.07	Elect J. Wayne Leonard			MGMT	YES	FOR	FOR
1.08	Elect Robert v.d. Luft			MGMT	YES	FOR	FOR
1.09	Elect Kathleen A. Murphy			MGMT	YES	FOR	FOR
1.10	Elect James R. Nichols			MGMT	YES	FOR	FOR
1.11	Elect William A. Percy II			MGMT	YES	FOR	FOR
1.12	Elect Dennis H. Reilley			MGMT	YES	FOR	FOR
1.13	Elect Steven V. Wilkinson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Independent board chairman			SHLDR	YES	AGNST	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Exxon Mobil Corp*		*XOM*	*30231G102*	*5/25/05*	*Annual*
1.01	Elect Michael J. Boskin			MGMT	YES	FOR	FOR
1.02	Elect William W. George			MGMT	YES	FOR	FOR
1.03	Elect James R. Houghton			MGMT	YES	FOR	FOR
1.04	Elect William R. Howell			MGMT	YES	FOR	FOR
1.05	Elect Reatha Clark King			MGMT	YES	FOR	FOR
1.06	Elect Philip E. Lippincott			MGMT	YES	FOR	FOR
1.07	Elect Henry A. McKinnell Jr.			MGMT	YES	FOR	FOR
1.08	Elect Marilyn Carlson Nelson			MGMT	YES	FOR	FOR
1.09	Elect Lee R. Raymond			MGMT	YES	FOR	FOR
1.10	Elect Walter V. Shipley			MGMT	YES	FOR	FOR
1.11	Elect Rex W. Tillerson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Affirm political nonpartisanship			SHLDR	YES	AGNST	FOR
4.00	Restrict director compensation			SHLDR	YES	AGNST	FOR
5.00	Nominate Directors with Energy Expertise			SHLDR	YES	AGNST	FOR
6.00	Review operations' impact on local groups			SHLDR	YES	AGNST	FOR
7.00	Adopt sexual orientation anti-bias policy			SHLDR	YES	AGNST	FOR
8.00	Preserve/report on natural habitat			SHLDR	YES	AGNST	FOR
9.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR
10.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR

*Federal Home Loan Mortgage Corp*		*FRE*	*313400301*	*11/4/04*	*Annual*
1.01	Elect Barbara T. Alexander			MGMT	YES	FOR	FOR
1.02	Elect Geoffrey T. Boisi			MGMT	YES	FOR	FOR
1.03	Elect Michelle Engler			MGMT	YES	FOR	FOR
1.04	Elect Richard Karl Goeltz			MGMT	YES	FOR	FOR
1.05	Elect Thomas S. Johnson			MGMT	YES	FOR	FOR
1.06	Elect William M. Lewis Jr			MGMT	YES	FOR	FOR
1.07	Elect John B. McCoy			MGMT	YES	FOR	FOR
1.08	Elect Eugene M. McQuade			MGMT	YES	FOR	FOR
1.09	Elect Shaun F. O'Malley			MGMT	YES	FOR	FOR
1.10	Elect Ronald F. Poe			MGMT	YES	FOR	FOR
1.11	Elect Stephen A. Ross			MGMT	YES	FOR	FOR
1.12	Elect Richard F. Syron			MGMT	YES	FOR	FOR
1.13	Elect William J. Turner			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Adopt Employee Stock Purchase Plan			MGMT	YES	FOR	FOR

*FirstEnergy Corp*		FE	*337932107*	*5/17/05*	*Annual*
1.01	Elect Anthony J. Alexander			MGMT	YES	FOR	FOR
1.02	Elect Russell W. Maier			MGMT	YES	FOR	FOR
1.03	Elect Robert N. Pokelwaldt			MGMT	YES	FOR	FOR
1.04	Elect Wes M. Taylor			MGMT	YES	FOR	FOR
1.05	Elect Jesse T. Williams Sr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
4.00	Eliminate supermajority provision			SHLDR	YES	AGNST	FOR
5.00	Require performance-based deferred comp			SHLDR	YES	AGNST	FOR

*Fox Entertainment Group Inc*		*FOX*	*35138T107*	*11/16/04*	*Annual*
1.01	Elect K. Rupert Murdoch			MGMT	YES	WHOLD	AGNST
1.02	Elect Peter Chernin			MGMT	YES	WHOLD	AGNST
1.03	Elect David F. DeVoe			MGMT	YES	WHOLD	AGNST
1.04	Elect Arthur M. Siskind			MGMT	YES	WHOLD	AGNST
1.05	Elect Lachlan K. Murdoch			MGMT	YES	WHOLD	AGNST
1.06	Elect Christos M. Cotsakos			MGMT	YES	WHOLD	AGNST
1.07	Elect Peter Powers			MGMT	YES	WHOLD	AGNST
2.00	Ratify Selection of Auditors			MGMT	YES	AGNST	AGNST

*Freescale Semiconductor Inc*		*FSL*	*35687M206*	*4/29/05*	*Annual*
1.01	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen P. Kaufman			MGMT	YES	WHOLD	AGNST
2.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical bylaw amendments
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*General Electric Co*		GE	*369604103*	*4/27/05*	*Annual*
1.01	Elect James I. Cash Jr.			MGMT	YES	FOR	FOR
1.02	Elect William M. Castell			MGMT	YES	FOR	FOR
1.03	Elect Dennis D. Dammerman			MGMT	YES	FOR	FOR
1.04	Elect Ann M. Fudge			MGMT	YES	FOR	FOR
1.05	Elect Claudio X. Gonzalez Laporte			MGMT	YES	WHOLD	AGNST
1.06	Elect Jeffrey R. Immelt			MGMT	YES	FOR	FOR
1.07	Elect Andrea Jung			MGMT	YES	FOR	FOR
1.08	Elect Alan G. Lafley			MGMT	YES	WHOLD	AGNST
1.09	Elect Ralph S. Larsen			MGMT	YES	FOR	FOR
1.10	Elect Rochelle B. Lazarus			MGMT	YES	FOR	FOR
1.11	Elect Samuel A. Nunn Jr.			MGMT	YES	WHOLD	AGNST
1.12	Elect Roger S. Penske			MGMT	YES	FOR	FOR
1.13	Elect Robert J. Swieringa			MGMT	YES	FOR	FOR
1.14	Elect Douglas A. Warner III			MGMT	YES	FOR	FOR
1.15	Elect Robert C. Wright			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
4.00	Review nuclear facility/waste			SHLDR	YES	AGNST	FOR
5.00	Report on environmental impact or plans			SHLDR	YES	AGNST	FOR
6.00	Limit number of directorships			SHLDR	YES	FOR	AGNST
7.00	Report on sustainability			SHLDR	YES	AGNST	FOR
8.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
9.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR

*General Mills Inc*		*GIS*	*370334104*	*9/27/04*	*Annual*
1.01	Elect Stephen R. Demeritt			MGMT	YES	FOR	FOR
1.02	Elect Livio D. DeSimone			MGMT	YES	FOR	FOR
1.03	Elect William T. Esrey			MGMT	YES	FOR	FOR
1.04	Elect Raymond V. Gilmartin			MGMT	YES	FOR	FOR
1.05	Elect Judith R. Hope			MGMT	YES	FOR	FOR
1.06	Elect Robert L. Johnson			MGMT	YES	WHOLD	AGNST
1.07	Elect Heidi G. Miller			MGMT	YES	FOR	FOR
1.08	Elect Hilda Ochoa-Brillembourg			MGMT	YES	FOR	FOR
1.09	Elect Michael D. Rose			MGMT	YES	FOR	FOR
1.10	Elect Stephen W. Sanger			MGMT	YES	FOR	FOR
1.11	Elect A. Michael Spence			MGMT	YES	FOR	FOR
1.12	Elect Dorothy A. Terrell			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Approve Board Size			MGMT	YES	FOR	FOR
	Approve Non-Technical Bylaw Amendments

*Harrah's Entertainment Inc*		*HET*	*413619107*	*3/11/05*	*Special*
1.00	Approve merger/acquisition			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR

*Harrah's Entertainment Inc*		*HET*	*413619107*	*4/28/05*	*Annual*
1.01	Elect Barbara T. Alexander			MGMT	YES	FOR	FOR
1.02	Elect Frank J. Biondi Jr.			MGMT	YES	FOR	FOR
1.03	Elect Robert G. Miller			MGMT	YES	FOR	FOR
1.04	Elect Christopher J. Williams			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Heinz (H J) Co*		*HNZ*	*423074103*	*9/8/04*	*Annual*
1.01	Elect William R. Johnson			MGMT	YES	FOR	FOR
1.02	Elect Charles E. Bunch			MGMT	YES	FOR	FOR
1.03	Elect Mary C. Choksi			MGMT	YES	FOR	FOR
1.04	Elect Leonard S. Coleman Jr.			MGMT	YES	FOR	FOR
1.05	Elect Peter H. Coors			MGMT	YES	FOR	FOR
1.06	Elect Edith E. Holiday			MGMT	YES	FOR	FOR
1.07	Elect Candace Kendle			MGMT	YES	FOR	FOR
1.08	Elect Dean R. O'Hare			MGMT	YES	FOR	FOR
1.09	Elect Lynn C. Swann			MGMT	YES	FOR	FOR
1.10	Elect Thomas J. Usher			MGMT	YES	FOR	FOR
1.11	Elect James M. Zimmerman			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Hewlett-Packard Co*		*HPQ*	*428236103*	*3/16/05*	*Annual*
1.01	Elect Lawrence T. Babbio Jr.			MGMT	YES	FOR	FOR
1.02	Elect Patricia C. Dunn			MGMT	YES	FOR	FOR
1.03	Elect Richard A. Hackborn			MGMT	YES	FOR	FOR
1.04	Elect George A. Keyworth II			MGMT	YES	FOR	FOR
1.05	Elect Robert E. Knowling Jr.			MGMT	YES	FOR	FOR
1.06	Elect Thomas J. Perkins			MGMT	YES	FOR	FOR
1.07	Elect Robert L. Ryan			MGMT	YES	FOR	FOR
1.08	Elect Lucille S. Salhany			MGMT	YES	FOR	FOR
1.09	Elect Robert P. Wayman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to employee stock purchase plan			MGMT	YES	FOR	FOR

*Honeywell International Inc*		*HON*	*438516106*	*4/25/05*	*Annual*
1.01	Elect Marshall N. Carter			MGMT	YES	FOR	FOR
1.02	Elect David M. Cote			MGMT	YES	FOR	FOR
1.03	Elect Bradley T. Sheares			MGMT	YES	FOR	FOR
1.04	Elect John R. Stafford			MGMT	YES	WHOLD	AGNST
1.05	Elect Michael W. Wright			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			MGMT	YES	FOR	FOR
4.00	Eliminate supermajority lock-in			MGMT	YES	FOR	FOR
5.00	Majority vote shareholder committee			SHLDR	YES	FOR	AGNST
6.00	Independent board chairman			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
8.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
9.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Ingersoll-Rand Co Ltd*		IR	*G4776G101*	*6/1/05*	*Annual*
1.01	Elect Ann C. Berzin			MGMT	YES	FOR	FOR
1.02	Elect Herbert L. Henkel			MGMT	YES	FOR	FOR
1.03	Elect H. William Lichtenberger			MGMT	YES	FOR	FOR
1.04	Elect Tony L. White			MGMT	YES	FOR	FOR
2.00	Repeal classified board			MGMT	YES	FOR	FOR
3.00	Eliminate cumulative Voting			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Intel Corp*		*INTC*	*458140100*	*5/18/05*	*Annual*
1.01	Elect Craig R. Barrett			MGMT	YES	FOR	FOR
1.02	Elect Charlene Barshefsky			MGMT	YES	FOR	FOR
1.03	Elect E. John P. Browne			MGMT	YES	FOR	FOR
1.04	Elect D. James Guzy			MGMT	YES	FOR	FOR
1.05	Elect Reed E. Hundt			MGMT	YES	FOR	FOR
1.06	Elect Paul S. Otellini			MGMT	YES	FOR	FOR
1.07	Elect David S. Pottruck			MGMT	YES	FOR	FOR
1.08	Elect Jane E. Shaw			MGMT	YES	FOR	FOR
1.09	Elect John L. Thornton			MGMT	YES	FOR	FOR
1.10	Elect David B. Yoffie			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2004 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Amend annual bonus plan			MGMT	YES	FOR	FOR

*International Business Machines Corp*		*IBM*	*459200101*	*4/26/05*	*Annual*
1.01	Elect Cathleen P. Black			MGMT	YES	FOR	FOR
1.02	Elect Kenneth I. Chenault			MGMT	YES	FOR	FOR
1.03	Elect Juergen Dormann			MGMT	YES	FOR	FOR
1.04	Elect Michael L. Eskew			MGMT	YES	FOR	FOR
1.05	Elect Charles F. Knight			MGMT	YES	FOR	FOR
1.06	Elect Minoru Makihara			MGMT	YES	FOR	FOR
1.07	Elect Lucio A. Noto			MGMT	YES	FOR	FOR
1.08	Elect Samuel J. Palmisano			MGMT	YES	FOR	FOR
1.09	Elect Joan E. Spero			MGMT	YES	FOR	FOR
1.10	Elect Sidney Taurel			MGMT	YES	FOR	FOR
1.11	Elect Charles M. Vest			MGMT	YES	FOR	FOR
1.12	Elect Lorenzo H. Zambrano Trevino			MGMT	YES	FOR	FOR
1.13	Misc. board of directors			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
4.00	Provide pension choices			SHLDR	YES	AGNST	FOR
5.00	Pension fund surplus			SHLDR	YES	AGNST	FOR
6.00	Expense stock options			SHLDR	YES	AGNST	FOR
7.00	Disclose executive compensation			SHLDR	YES	AGNST	FOR
8.00	Report on risk to image of globalization strategy			SHLDR	YES	AGNST	FOR

*Johnson & Johnson*		*JNJ*	*478160104*	*4/28/05*	*Annual*
1.01	Elect Mary S. Coleman			MGMT	YES	FOR	FOR
1.02	Elect James G. Cullen			MGMT	YES	FOR	FOR
1.03	Elect Robert J. Darretta			MGMT	YES	FOR	FOR
1.04	Elect Michael M. E. Johns			MGMT	YES	FOR	FOR
1.05	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.06	Elect Arnold G. Langbo			MGMT	YES	FOR	FOR
1.07	Elect Susan L. Lindquist			MGMT	YES	FOR	FOR
1.08	Elect Leo F. Mullin			MGMT	YES	FOR	FOR
1.09	Elect Christine A. Poon			MGMT	YES	FOR	FOR
1.10	Elect Steven S. Reinemund			MGMT	YES	FOR	FOR
1.11	Elect David Satcher			MGMT	YES	FOR	FOR
1.12	Elect William C. Weldon			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*JPMorgan Chase & Co*		*JPM*	*46625H100*	*5/17/05*	*Annual*
1.01	Elect Hans W. Becherer			MGMT	YES	FOR	FOR
1.02	Elect John H. Biggs			MGMT	YES	FOR	FOR
1.03	Elect Lawrence A. Bossidy			MGMT	YES	FOR	FOR
1.04	Elect Stephen B. Burke			MGMT	YES	FOR	FOR
1.05	Elect James S. Crown			MGMT	YES	FOR	FOR
1.06	Elect James Dimon			MGMT	YES	FOR	FOR
1.07	Elect Ellen V. Futter			MGMT	YES	FOR	FOR
1.08	Elect William H. Gray III			MGMT	YES	FOR	FOR
1.09	Elect William B. Harrison Jr.			MGMT	YES	FOR	FOR
1.10	Elect Laban P. Jackson Jr.			MGMT	YES	FOR	FOR
1.11	Elect John W. Kessler			MGMT	YES	FOR	FOR
1.12	Elect Robert I. Lipp			MGMT	YES	FOR	FOR
1.13	Elect Richard A. Manoogian			MGMT	YES	FOR	FOR
1.14	Elect David C. Novak			MGMT	YES	FOR	FOR
1.15	Elect Lee R. Raymond			MGMT	YES	FOR	FOR
1.16	Elect William C. Weldon			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Long-Term Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Director tenure/retirement age			SHLDR	YES	AGNST	FOR
5.00	Independent board chairman			SHLDR	YES	AGNST	FOR
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Kimberly-Clark Corp*		*KMB*	*494368103*	*4/28/05*	*Annual*
1.01	Elect John F. Bergstrom			MGMT	YES	FOR	FOR
1.02	Elect Robert W. Decherd			MGMT	YES	FOR	FOR
1.03	Elect G. Craig Sullivan			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Monitor/adopt ILO conventions			SHLDR	YES	AGNST	FOR

*Lear Corp*		*LEA*	*521865105*	*5/5/05*	*Annual*
1.01	Elect Anne K. Bingaman			MGMT	YES	FOR	FOR
1.02	Elect Conrad L. Mallett Jr.			MGMT	YES	FOR	FOR
1.03	Elect Robert E. Rossiter			MGMT	YES	FOR	FOR
1.04	Elect James H. Vandenberghe			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Approve annual bonus plan			MGMT	YES	FOR	FOR

*Lehman Brothers Holdings Inc*		*LEH*	*524908100*	*4/5/05*	*Annual*
1.01	Elect Michael L. Ainslie			MGMT	YES	FOR	FOR
1.02	Elect John F. Akers			MGMT	YES	FOR	FOR
1.03	Elect Richard S. Fuld Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Lennar Corp*		*LEN*	*526057104*	*3/29/05*	*Annual*
1.01	Elect Stuart A. Miller			MGMT	YES	WHOLD	AGNST
1.02	Elect Steven J. Saiontz			MGMT	YES	WHOLD	AGNST
1.03	Elect Robert J. Strudler			MGMT	YES	WHOLD	AGNST
2.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR

*Liberty Media Corp*		L	*530718105*	*6/8/05*	*Annual*
1.01	Elect David E. Rapley			MGMT	YES	FOR	FOR
1.02	Elect Larry E. Romrell			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Lilly (Eli) & Co*		*LLY*	*532457108*	*4/18/05*	*Annual*
1.01	Elect George M.C. Fisher			MGMT	YES	FOR	FOR
1.02	Elect Alfred G. Gilman			MGMT	YES	FOR	FOR
1.03	Elect Karen N. Horn			MGMT	YES	FOR	FOR
1.04	Elect John Edward Rose			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Independent board chairman			SHLDR	YES	AGNST	FOR
4.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
5.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
6.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
7.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
8.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR

*Lockheed Martin Corp*		*LMT*	*539830109*	*4/28/05*	*Annual*
1.01	Elect E.C. Aldridge Jr.			MGMT	YES	WHOLD	AGNST
1.02	Elect Nolan D. Archibald			MGMT	YES	WHOLD	AGNST
1.03	Elect Marcus C. Bennett			MGMT	YES	WHOLD	AGNST
1.04	Elect James O.Ellis			MGMT	YES	WHOLD	AGNST
1.05	Elect Gwendolyn S. King			MGMT	YES	WHOLD	AGNST
1.06	Elect Douglas H. McCorkindale			MGMT	YES	WHOLD	AGNST
1.07	Elect Eugene F. Murphy			MGMT	YES	WHOLD	AGNST
1.08	Elect Joseph W. Ralston			MGMT	YES	WHOLD	AGNST
1.09	Elect Frank Savage			MGMT	YES	WHOLD	AGNST
1.10	Elect Anne Stevens			MGMT	YES	FOR	FOR
1.11	Elect Robert J. Stevens			MGMT	YES	WHOLD	AGNST
1.12	Elect James R. Ukropina			MGMT	YES	WHOLD	AGNST
1.13	Elect Douglas C. Yearley			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
7.00	Review/develop broad social standards			SHLDR	YES	AGNST	FOR

*Marathon Oil Corp*		*MRO*	*565849106*	*4/27/05*	*Annual*
1.01	Elect Shirley A. Jackson			MGMT	YES	FOR	FOR
1.02	Elect Philip Lader			MGMT	YES	FOR	FOR
1.03	Elect Seth E. Schofield			MGMT	YES	FOR	FOR
1.04	Elect Douglas C. Yearley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Masco Corp*		*MAS*	*574599106*	*5/10/05*	*Annual*
1.01	Elect Verne G. Istock			MGMT	YES	FOR	FOR
1.02	Elect David L. Johnston			MGMT	YES	FOR	FOR
1.03	Elect J. Michael Losh			MGMT	YES	WHOLD	AGNST
1.04	Elect Dennis W. Archer			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Long Term Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Mattel Inc*		*MAT*	*577081102*	*5/19/05*	*Annual*
1.01	Elect Eugene P. Beard			MGMT	YES	FOR	FOR
1.02	Elect Michael J. Dolan			MGMT	YES	FOR	FOR
1.03	Elect Robert A. Eckert			MGMT	YES	FOR	FOR
1.04	Elect Tully M. Friedman			MGMT	YES	FOR	FOR
1.05	Elect Andrea L. Rich			MGMT	YES	FOR	FOR
1.06	Elect Ronald L. Sargent			MGMT	YES	FOR	FOR
1.07	Elect Christopher A. Sinclair			MGMT	YES	FOR	FOR
1.08	Elect G. Craig Sullivan			MGMT	YES	FOR	FOR
1.09	Elect John L. Vogelstein			MGMT	YES	FOR	FOR
1.10	Elect Kathy Brittain White			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Equity Compensation Plan			MGMT	YES	AGNST	AGNST
4.00	Golden parachutes			SHLDR	YES	AGNST	FOR
5.00	Review global labor practices			SHLDR	YES	AGNST	FOR

*MBNA Corp*		*KRB*	*55262L100*	*5/2/05*	*Annual*
1.01	Elect James H. Berick			MGMT	YES	WHOLD	AGNST
1.02	Elect Mary M. Boies			MGMT	YES	WHOLD	AGNST
1.03	Elect Benjamin R. Civiletti			MGMT	YES	WHOLD	AGNST
1.04	Elect Bruce L. Hammonds			MGMT	YES	WHOLD	AGNST
1.05	Elect William L. Jews			MGMT	YES	WHOLD	AGNST
1.06	Elect Randolph D. Lerner			MGMT	YES	WHOLD	AGNST
1.07	Elect Stuart L. Markowitz			MGMT	YES	WHOLD	AGNST
1.08	Elect William B. Milstead			MGMT	YES	WHOLD	AGNST
1.09	Elect Thomas G. Murdough			MGMT	YES	WHOLD	AGNST
1.10	Elect Laura S. Unger			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST
3.00	Expense stock options			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*McDonald's Corp*		*MCD*	*580135101*	*5/11/05*	*Annual*
1.01	Elect Hall Adams Jr.			MGMT	YES	FOR	FOR
1.02	Elect Cary D. McMillan			MGMT	YES	FOR	FOR
1.03	Elect Michael J. Roberts			MGMT	YES	FOR	FOR
1.04	Elect James A. Skinner			MGMT	YES	FOR	FOR
1.05	Elect Anne-Marie Slaughter			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review or curb bioengineering			SHLDR	YES	AGNST	FOR

*McKesson Corp*		*MCK*	*58155Q103*	*7/28/04*	*Annual*
1.01	Elect John H. Hammergren			MGMT	YES	FOR	FOR
1.02	Elect Robert W. Matschullat			MGMT	YES	FOR	FOR
1.03	Elect M. Christine Jacobs			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Medco Health Solutions Inc*		*MHS*	*58405U102*	*5/31/05*	*Annual*
1.01	Elect John L. Cassis			MGMT	YES	FOR	FOR
1.02	Elect Michael Goldstein			MGMT	YES	WHOLD	AGNST
1.03	Elect Blenda J. Wilson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2002 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Adopt the 2003 Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
5.00	Adopt the Executive Incentive Compensation Plan			MGMT	YES	FOR	FOR

*Merrill Lynch & Co*		*MER*	*590188108*	*4/22/05*	*Annual*
1.01	Elect Jill K. Conway			MGMT	YES	FOR	FOR
1.02	Elect Heinz-Joachim Neuburger			MGMT	YES	FOR	FOR
1.03	Elect E. Stanley O'Neal			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt director stock award plan			MGMT	YES	AGNST	AGNST
4.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
5.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Metlife Inc*		*MET*	*59156R108*	*4/26/05*	*Annual*
1.01	Elect Cheryl W. Grise			MGMT	YES	FOR	FOR
1.02	Elect James R Houghton			MGMT	YES	FOR	FOR
1.03	Elect Helene L. Kaplan			MGMT	YES	WHOLD	AGNST
1.04	Elect Sylvia M. Mathews			MGMT	YES	FOR	FOR
1.05	Elect William C. Steere Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Report on insurance sales practices			SHLDR	YES	AGNST	FOR

*Microsoft Corp*		*MSFT*	*594918104*	*11/9/04*	*Annual*
1.01	Elect William H. Gates III			MGMT	YES	FOR	FOR
1.02	Elect Steven A. Ballmer			MGMT	YES	FOR	FOR
1.03	Elect James I. Cash Jr.			MGMT	YES	FOR	FOR
1.04	Elect Raymond V. Gilmartin			MGMT	YES	FOR	FOR
1.05	Elect Ann McLaughlin Korologos			MGMT	YES	FOR	FOR
1.06	Elect David F. Marquardt			MGMT	YES	FOR	FOR
1.07	Elect Charles H. Noski			MGMT	YES	FOR	FOR
1.08	Elect Helmut Panke			MGMT	YES	FOR	FOR
1.09	Elect Jon A. Shirley			MGMT	YES	FOR	FOR
2.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
3.00	Amend Director Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Reapprove Option/Bonus Plan for OBRA			MGMT	YES	FOR	FOR
5.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Montpelier Re Holdings*		*MRH*	*G62185106*	*5/20/05*	*Annual*
1.01	Elect Raymond Barrette			MGMT	YES	FOR	FOR
1.02	Elect Steven J. Gilbert			MGMT	YES	FOR	FOR
1.03	Elect John D. Gillespie			MGMT	YES	FOR	FOR
1.04	Elect William Spiegel			MGMT	YES	FOR	FOR
2.01	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.02	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.03	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
2.04	Elect subsidiary director(s)			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Morgan Stanley*		*MWD*	*617446448*	*3/15/05*	*Annual*
1.01	Elect John E. Jacob			MGMT	YES	FOR	FOR
1.02	Elect Charles F. Knight			MGMT	YES	FOR	FOR
1.03	Elect Miles L. Marsh			MGMT	YES	FOR	FOR
1.04	Elect Laura D'Andrea Tyson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			MGMT	YES	FOR	FOR
4.00	Restrict executive compensation			SHLDR	YES	FOR	AGNST

*Motorola Inc*		*MOT*	*620076109*	*5/2/05*	*Annual*
1.01	Elect Edward J. Zander			MGMT	YES	FOR	FOR
1.02	Elect H. Laurance Fuller			MGMT	YES	FOR	FOR
1.03	Elect Judy C. Lewent			MGMT	YES	FOR	FOR
1.04	Elect Walter E. Massey			MGMT	YES	FOR	FOR
1.05	Elect Thomas J. Meredith			MGMT	YES	FOR	FOR
1.06	Elect Nicholas Negroponte			MGMT	YES	FOR	FOR
1.07	Elect Indra K. Nooyi			MGMT	YES	FOR	FOR
1.08	Elect Samuel C. Scott III			MGMT	YES	FOR	FOR
1.09	Elect Ron Sommer			MGMT	YES	FOR	FOR
1.10	Elect James R. STENGEL			MGMT	YES	FOR	FOR
1.11	Elect Douglas A. Warner III			MGMT	YES	FOR	FOR
1.12	Elect John A. White			MGMT	YES	FOR	FOR
2.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
3.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Muenchener Rueck*			*D55535104*	*4/28/05*	*Annual*
1.00	Presentation of financial statements and management report			MGMT	NO
2.00	Set Final Dividend at 2.00			MGMT	NO
3.00	Ratify management acts-symbolic			MGMT	NO
4.00	Ratify board acts-symbolic			MGMT	NO
5.00	Authorize share repurchase			MGMT	NO
	Reissuance of shares/treasury stock
6.00	Issue convertible debt instruments			MGMT	NO
	Issue stock w/o preemptive rights
	Increase authorized capital
7.00	Approve supervisory board/corp. assembly fees			MGMT	NO

*Northrop Grumman Corp*		*NOC*	*666807102*	*5/17/05*	*Annual*
1.01	Elect Phillip Frost			MGMT	YES	FOR	FOR
1.02	Elect John B. Slaughter			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			MGMT	YES	FOR	FOR
4.00	Add shares to the 1993 Stock Plan for Non-Employee Directors			MGMT	YES	AGNST	AGNST
5.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST

*Office Depot Inc*		*ODP*	*676220106*	*5/13/05*	*Annual*
1.01	Elect Lee A. Ault III			MGMT	YES	FOR	FOR
1.02	Elect Neil R. Austrian			MGMT	YES	FOR	FOR
1.03	Elect David W. Bernauer			MGMT	YES	FOR	FOR
1.04	Elect Abelardo E. Bru			MGMT	YES	FOR	FOR
1.05	Elect David I. Fuente			MGMT	YES	FOR	FOR
1.06	Elect Brenda J. Gaines			MGMT	YES	FOR	FOR
1.07	Elect Myra M. Hart			MGMT	YES	FOR	FOR
1.08	Elect W. Scott Hedrick			MGMT	YES	FOR	FOR
1.09	Elect James L. Heskett			MGMT	YES	FOR	FOR
1.10	Elect Patricia A. McKay			MGMT	YES	FOR	FOR
1.11	Elect Michael J. Myers			MGMT	YES	FOR	FOR
1.12	Elect Steve Odland			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*OfficeMax Inc*		*OMX*	*67622P101*	*5/9/05*	*Annual*
1.01	Elect Warren F. Bryant			MGMT	YES	FOR	FOR
1.02	Elect Francesca Ruiz De Luzuriaga			MGMT	YES	FOR	FOR
1.03	Elect David M. Szymanski			MGMT	YES	FOR	FOR
1.04	Elect Carolyn M. Ticknor			MGMT	YES	FOR	FOR
1.05	Elect Ward W. Woods Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST

*Oracle Corp*		*ORCL*	*68389X105*	*10/29/04*	*Annual*
1.01	Elect Jeffrey O. Henley			MGMT	YES	FOR	FOR
1.02	Elect Lawrence J. Ellison			MGMT	YES	FOR	FOR
1.03	Elect Donald L. Lucas			MGMT	YES	FOR	FOR
1.04	Elect Michael J. Boskin			MGMT	YES	FOR	FOR
1.05	Elect Jack F. Kemp			MGMT	YES	FOR	FOR
1.06	Elect Jeffrey Berg			MGMT	YES	FOR	FOR
1.07	Elect Safra Catz			MGMT	YES	FOR	FOR
1.08	Elect Hector Garcia-Molina			MGMT	YES	FOR	FOR
1.09	Elect Joseph Grundfest			MGMT	YES	FOR	FOR
1.10	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.11	Elect Charles E. Phillips Jr.			MGMT	YES	FOR	FOR
2.00	Approve Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
4.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
5.00	China--Adopt Code of Conduct			SHLDR	YES	AGNST	FOR

*Parker-Hannifin Corp*		PH	*701094104*	*10/27/04*	*Annual*
1.01	Elect Candy M. Obourn			MGMT	YES	FOR	FOR
1.02	Elect Hector R. Ortino			MGMT	YES	FOR	FOR
1.03	Elect Nickolas W. Vande Steeg			MGMT	YES	FOR	FOR
1.04	Elect Donald E. Washkewicz			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Adopt Director Stock Option Plan			MGMT	YES	FOR	FOR

*Pfizer Inc*		*PFE*	*717081103*	*4/28/05*	*Annual*
1.01	Elect Michael S. Brown			MGMT	YES	FOR	FOR
1.02	Elect M. Anthony Burns			MGMT	YES	FOR	FOR
1.03	Elect Robert N. Burt			MGMT	YES	FOR	FOR
1.04	Elect W. Don Cornwell			MGMT	YES	FOR	FOR
1.05	Elect William H. Gray III			MGMT	YES	FOR	FOR
1.06	Elect Constance J. Horner			MGMT	YES	FOR	FOR
1.07	Elect William R. Howell			MGMT	YES	FOR	FOR
1.08	Elect Stanley O. Ikenberry			MGMT	YES	FOR	FOR
1.09	Elect George A. Lorch			MGMT	YES	FOR	FOR
1.10	Elect Henry A. McKinnell Jr.			MGMT	YES	FOR	FOR
1.11	Elect Dana G. Mead			MGMT	YES	FOR	FOR
1.12	Elect Ruth J. Simmons			MGMT	YES	FOR	FOR
1.13	Elect William C. Steere Jr.			MGMT	YES	FOR	FOR
1.14	Elect Jean-Paul Valles			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Director tenure/retirement age			SHLDR	YES	AGNST	FOR
4.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
5.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
6.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
7.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
8.00	Independent board chairman			SHLDR	YES	AGNST	FOR

*PG&E Corp*		*PCG*	*69331C108*	*4/20/05*	*Annual*
1.01	Elect David R. Andrews			MGMT	YES	FOR	FOR
1.02	Elect Leslie S. Biller			MGMT	YES	FOR	FOR
1.03	Elect David A. Coulter			MGMT	YES	FOR	FOR
1.04	Elect C. Lee Cox			MGMT	YES	FOR	FOR
1.05	Elect Peter A. Darbee			MGMT	YES	FOR	FOR
1.06	Elect Robert D. Glynn Jr.			MGMT	YES	FOR	FOR
1.07	Elect Mary S. Metz			MGMT	YES	FOR	FOR
1.08	Elect Barbara L. Rambo			MGMT	YES	FOR	FOR
1.09	Elect Barry L. Williams			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Expense stock options			SHLDR	YES	AGNST	FOR
5.00	Review nuclear facility/waste			SHLDR	YES	AGNST	FOR
6.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST
7.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
8.00	Golden parachutes			SHLDR	YES	AGNST	FOR

*PMI Group Inc*		*PMI*	*69344M101*	*5/19/05*	*Annual*
1.01	Elect Mariann Byerwalter			MGMT	YES	FOR	FOR
1.02	Elect James C. Castle			MGMT	YES	FOR	FOR
1.03	Elect Carmine Guerro			MGMT	YES	FOR	FOR
1.04	Elect W. Roger Haughton			MGMT	YES	FOR	FOR
1.05	Elect Wayne E. Hedien			MGMT	YES	FOR	FOR
1.06	Elect Louis G. Lower II			MGMT	YES	FOR	FOR
1.07	Elect Raymond L. Ocampo Jr.			MGMT	YES	FOR	FOR
1.08	Elect John D. Roach			MGMT	YES	FOR	FOR
1.09	Elect Kenneth T. Rosen			MGMT	YES	FOR	FOR
1.10	Elect Steven L. Scheid			MGMT	YES	FOR	FOR
1.11	Elect L. Stephen Smith			MGMT	YES	FOR	FOR
1.12	Elect Richard L. Thomas			MGMT	YES	FOR	FOR
1.13	Elect Jose H. Villarreal			MGMT	YES	FOR	FOR
1.14	Elect Mary Lee Widener			MGMT	YES	FOR	FOR
1.15	Elect Ronald H. Zech			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*PPG Industries Inc*		*PPG*	*693506107*	*4/21/05*	*Annual*
1.01	Elect Michele J. Hooper			MGMT	YES	FOR	FOR
1.02	Elect Raymond W. LeBoeuf			MGMT	YES	FOR	FOR
1.03	Elect Robert Mehrabian			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*PPL Corp*		*PPL*	*69351T106*	*4/22/05*	*Annual*
1.01	Elect Frederick M. Bernthal			MGMT	YES	WHOLD	AGNST
1.02	Elect John R. Biggar			MGMT	YES	WHOLD	AGNST
1.03	Elect Louise K. Goeser			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Progress Energy Inc*		*PGN*	*743263105*	*5/11/05*	*Annual*
1.01	Elect William O. McCoy			MGMT	YES	FOR	FOR
1.02	Elect John H. Mullin III			MGMT	YES	FOR	FOR
1.03	Elect Carlos A. Saladrigas			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Providian Financial Corp*		*PVN*	*74406A102*	*5/5/05*	*Annual*
1.01	Elect James P. Holdcroft Jr.			MGMT	YES	FOR	FOR
1.02	Elect Ruth M. Owades			MGMT	YES	FOR	FOR
1.03	Elect Jane A. Truelove			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Putnam Prime Money Market Fund*			*746763432*	*11/11/04*	*Special*
1.01	Elect Trustee J.A. Baxter			MGMT	YES	FOR	FOR
1.02	Elect Trustee E.T. Kennan			MGMT	YES	FOR	FOR
1.03	Elect Trustee C.B. Curtis			MGMT	YES	FOR	FOR
1.04	Elect Trustee J.H. Mullin, III			MGMT	YES	FOR	FOR
1.05	Elect Trustee M.R. Drucker			MGMT	YES	FOR	FOR
1.06	Elect Trustee R.E. Patterson			MGMT	YES	FOR	FOR
1.07	Elect Trustee C.E. Haldeman, Jr.			MGMT	YES	FOR	FOR
1.08	Elect Trustee G. Putnam, III			MGMT	YES	FOR	FOR
1.09	Elect Trustee J.A. Hill			MGMT	YES	FOR	FOR
1.10	Elect Trustee A.J.C. Smith			MGMT	YES	FOR	FOR
1.11	Elect Trustee R. J. Jackson			MGMT	YES	FOR	FOR
1.12	Elect Trustee W.T. Stephens			MGMT	YES	FOR	FOR
1.13	Elect Trustee P.L. Joskow			MGMT	YES	FOR	FOR
1.14	Elect Trustee R.B. Worley			MGMT	YES	FOR	FOR
2.00	Amend fund's fundamental investment restriction with respect to borrowing			MGMT	N/A	N/A	N/A
2.01	Amend fund's fundamental investment restriction with respect to making loans			MGMT	N/A	N/A	N/A
2.02	Amend fund's fundamental investment restriction with respect to diversification of investments			MGMT	YES	FOR	FOR
2.03	Amend fund's fundamental investment restriction with respect to issuance of senior securities			MGMT	N/A	N/A	N/A
2.04	Amend fund's fundamental investment restriction with respect to purchasing or selling options, puts, calls, straddles and spreads			MGMT	N/A	N/A	N/A
2.05	Amend fund's fundamental investment restriction with respect to investments in commodities			MGMT	N/A	N/A	N/A
3.00	Amend fund's Agreement and Declaration of Trust			MGMT	YES	FOR	FOR

*Republic Services Inc*		*RSG*	*760759100*	*5/12/05*	*Annual*
1.01	Elect James E. O'Connor			MGMT	YES	FOR	FOR
1.02	Elect Harris W. Hudson			MGMT	YES	FOR	FOR
1.03	Elect John W. Croghan			MGMT	YES	FOR	FOR
1.04	Elect W. Lee Nutter			MGMT	YES	FOR	FOR
1.05	��Elect Ramon A. Rodriguez			MGMT	YES	FOR	FOR
1.06	Elect Allan C. Sorensen			MGMT	YES	FOR	FOR
1.07	Elect Michael W. Wickham			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Golden parachutes			SHLDR	YES	AGNST	FOR

*Rite Aid Corp*		*RAD*	*767754104*	*6/23/05*	*Annual*
1.01	Elect John G. Danhakl			MGMT	YES	FOR	FOR
1.02	Elect Michael Friedman			MGMT	YES	FOR	FOR
1.03	Elect Alfred M. Gleason			MGMT	YES	FOR	FOR
1.04	Elect Robert G. Miller			MGMT	YES	FOR	FOR
1.05	Elect Philip G. Satre			MGMT	YES	FOR	FOR
2.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
3.00	Board inclusiveness			SHLDR	YES	AGNST	FOR

*Scana Corp*		*SCG*	*80589M102*	*5/5/05*	*Annual*
1.01	Elect Bill L. Amick			MGMT	YES	FOR	FOR
1.02	Elect D. Maybank Hagood			MGMT	YES	FOR	FOR
1.03	Elect William B. Timmerman			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Sempra Energy*		*SRE*	*816851109*	*4/5/05*	*Annual*
1.01	Elect Richard A. Collato			MGMT	YES	WHOLD	AGNST
1.02	Elect Denise K. Fletcher			MGMT	YES	WHOLD	AGNST
1.03	Elect William C. Rusnack			MGMT	YES	WHOLD	AGNST
1.04	Elect William P. Rutledge			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Expense stock options			SHLDR	YES	AGNST	FOR
4.00	Repeal classified board			SHLDR	YES	FOR	AGNST
5.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
6.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST

*Service Corporation International*		*SCI*	*817565104*	*5/12/05*	*Annual*
1.01	Elect Thomas L. Ryan			MGMT	YES	FOR	FOR
1.02	Elect S. Malcolm Gillis			MGMT	YES	FOR	FOR
1.03	Elect Clifton H. Morris Jr.			MGMT	YES	FOR	FOR
1.04	Elect W. Blair Waltrip			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Siebel Systems Inc*		*SEBL*	*826170102*	*6/8/05*	*Annual*
1.01	Elect Thomas M. Siebel			MGMT	YES	WHOLD	AGNST
1.02	Elect James C. Gaither			MGMT	YES	WHOLD	AGNST
1.03	Elect Marc F. Racicot			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Smurfit-Stone Container Corp*		*SSCC*	*832727101*	*5/11/05*	*Annual*
1.01	Elect James R. Boris			MGMT	YES	FOR	FOR
1.02	Elect Connie K. Duckworth			MGMT	YES	FOR	FOR
1.03	Elect Alan E. Goldberg			MGMT	YES	FOR	FOR
1.04	Elect William T. Lynch Jr.			MGMT	YES	FOR	FOR
1.05	Elect Patrick J. Moore			MGMT	YES	FOR	FOR
1.06	Elect James J. O'Connor			MGMT	YES	FOR	FOR
1.07	Elect Jerry K. Pearlman			MGMT	YES	FOR	FOR
1.08	Elect Thomas A. Reynolds III			MGMT	YES	FOR	FOR
1.09	Elect Eugene C. Sit			MGMT	YES	FOR	FOR
1.10	Elect William D. Smithburg			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Solectron Corp*		*SLR*	*834182107*	*1/13/05*	*Annual*
1.01	Elect William A. Hasler			MGMT	YES	FOR	FOR
1.02	Elect Michael R. Cannon			MGMT	YES	FOR	FOR
1.03	Elect Richard A. D'Amore			MGMT	YES	FOR	FOR
1.04	Elect H. Paulett Eberhart			MGMT	YES	FOR	FOR
1.05	Elect Heinz K. Fridrich			MGMT	YES	FOR	FOR
1.06	Elect William R. Graber			MGMT	YES	FOR	FOR
1.07	Elect Paul R. Low			MGMT	YES	FOR	FOR
1.08	Elect C. Wesley M. Scott			MGMT	YES	FOR	FOR
1.09	Elect Cyril J. Yansouni			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Sonoco Products Co*		*SON*	*835495102*	*4/20/05*	*Annual*
1.01	Elect C. J. Bradshaw			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert J. Brown			MGMT	YES	WHOLD	AGNST
1.03	Elect James L. Coker			MGMT	YES	WHOLD	AGNST
1.04	Elect Paul Fulton			MGMT	YES	WHOLD	AGNST
1.05	Elect Pamela S. Lewis			MGMT	YES	WHOLD	AGNST
1.06	Elect John E. Linville			MGMT	YES	WHOLD	AGNST

*SouthTrust Corp*		*SOTR*	*844730101*	*10/28/04*	*Special*
1.00	Approve Merger/Acquisition			MGMT	YES	FOR	FOR

*St. Paul Travelers Companies*		*STA*	*792860108*	*7/28/04*	*Annual*
1.01	Elect Howard P. Berkowitz			MGMT	YES	WHOLD	AGNST
1.02	Elect Kenneth J. Bialkin			MGMT	YES	WHOLD	AGNST
1.03	Elect Carolyn H. Byrd			MGMT	YES	WHOLD	AGNST
1.04	Elect John H. Dasburg			MGMT	YES	WHOLD	AGNST
1.05	Elect Leslie B. Disharoon			MGMT	YES	WHOLD	AGNST
1.06	Elect Janet M. Dolan			MGMT	YES	WHOLD	AGNST
1.07	Elect Kenneth M. Duberstein			MGMT	YES	WHOLD	AGNST
1.08	Elect Jay S. Fishman			MGMT	YES	WHOLD	AGNST
1.09	Elect Lawrence G. Graev			MGMT	YES	WHOLD	AGNST
1.10	Elect Meryl D. Hartzband			MGMT	YES	WHOLD	AGNST
1.11	Elect Thomas R. Hodgson			MGMT	YES	WHOLD	AGNST
1.12	Elect William H. Kling			MGMT	YES	WHOLD	AGNST
1.13	Elect James A. Lawrence			MGMT	YES	WHOLD	AGNST
1.14	Elect Robert I. Lipp			MGMT	YES	WHOLD	AGNST
1.15	Elect Blythe J. McGarvie			MGMT	YES	WHOLD	AGNST
1.16	Elect Glen D. Nelson			MGMT	YES	WHOLD	AGNST
1.17	Elect Clarence Otis Jr.			MGMT	YES	WHOLD	AGNST
1.18	Elect Jeffrey M. Peek			MGMT	YES	WHOLD	AGNST
1.19	Elect Nancy A. Roseman			MGMT	YES	WHOLD	AGNST
1.20	Elect Charles W. Scharf			MGMT	YES	WHOLD	AGNST
1.21	Elect Gordon M. Sprenger			MGMT	YES	WHOLD	AGNST
1.22	Elect Frank J. Tasco			MGMT	YES	WHOLD	AGNST
1.23	Elect Laurie J. Thomsen			MGMT	YES	WHOLD	AGNST
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR

*St. Paul Travelers Companies*		*STA*	*792860108*	*5/3/05*	*Annual*
1.01	Elect John H. Dasburg			MGMT	YES	FOR	FOR
1.02	Elect Leslie B. Disharoon			MGMT	YES	FOR	FOR
1.03	Elect Janet M. Dolan			MGMT	YES	FOR	FOR
1.04	Elect Kenneth M. Duberstein			MGMT	YES	FOR	FOR
1.05	Elect Jay S. Fishman			MGMT	YES	FOR	FOR
1.06	Elect Lawrence G. Graev			MGMT	YES	FOR	FOR
1.07	Elect Thomas R. Hodgson			MGMT	YES	FOR	FOR
1.08	Elect Robert I. Lipp			MGMT	YES	FOR	FOR
1.09	Elect Blythe J. McGarvie			MGMT	YES	WHOLD	AGNST
1.10	Elect Glen D. Nelson			MGMT	YES	FOR	FOR
1.11	Elect Clarence Otis Jr.			MGMT	YES	FOR	FOR
1.12	Elect Charles W. Scharf			MGMT	YES	FOR	FOR
1.13	Elect Laurie J. Thomsen			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*State Street Corp*		*STT*	*857477103*	*4/20/05*	*Annual*
1.01	Elect Tenley E. Albright			MGMT	YES	FOR	FOR
1.02	Elect Kennett F. Burnes			MGMT	YES	FOR	FOR
1.03	Elect Truman S. Casner			MGMT	YES	FOR	FOR
1.04	Elect Nader F. Darehshori			MGMT	YES	FOR	FOR
1.05	Elect Arthur L. Goldstein			MGMT	YES	FOR	FOR
1.06	Elect David P. Gruber			MGMT	YES	FOR	FOR
1.07	Elect Linda A. Hill			MGMT	YES	FOR	FOR
1.08	Elect Charles R. Lamantia			MGMT	YES	FOR	FOR
1.09	Elect Ronald E. Logue			MGMT	YES	FOR	FOR
1.10	Elect Richard P. (Rick) Sergel			MGMT	YES	FOR	FOR
1.11	Elect Ronald L. Skates			MGMT	YES	FOR	FOR
1.12	Elect Gregory L. Summe			MGMT	YES	FOR	FOR
1.13	Elect Diana Chapman Walsh			MGMT	YES	WHOLD	AGNST
1.14	Elect Robert E. Weissman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*SuperValu Inc*		*SVU*	*868536103*	*6/15/05*	*Annual*
1.01	Elect Edwin C. Gage			MGMT	YES	FOR	FOR
1.02	Elect Garnett L. Keith Jr.			MGMT	YES	FOR	FOR
1.03	Elect Marissa Peterson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 2002 Stock Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Tyco International Ltd*		*TYC*	*902124106*	*3/10/05*	*Annual*
1.01	Elect Dennis C. Blair			MGMT	YES	WHOLD	AGNST
1.02	Elect Edward D. Breen			MGMT	YES	WHOLD	AGNST
1.03	Elect George W. Buckley			MGMT	YES	WHOLD	AGNST
1.04	Elect Brian Duperreault			MGMT	YES	WHOLD	AGNST
1.05	Elect Bruce S. Gordon			MGMT	YES	WHOLD	AGNST
1.06	Elect Rajiv L. Gupta			MGMT	YES	WHOLD	AGNST
1.07	Elect John A. Krol			MGMT	YES	WHOLD	AGNST
1.08	Elect Mackey J. McDonald			MGMT	YES	WHOLD	AGNST
1.09	Elect H. Carl McCall			MGMT	YES	WHOLD	AGNST
1.10	Elect Brendan R. O'Neill			MGMT	YES	WHOLD	AGNST
1.11	Elect Sandra S. Wijnberg			MGMT	YES	WHOLD	AGNST
1.12	Elect Jerome B. York			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST

*U S Bancorp*		*USB*	*902973304*	*4/19/05*	*Annual*
1.01	Elect Joel W. Johnson			MGMT	YES	FOR	FOR
1.02	Elect David B. O'Maley			MGMT	YES	FOR	FOR
1.03	Elect O'Dell M. Owens			MGMT	YES	FOR	FOR
1.04	Elect Craig D. Schnuck			MGMT	YES	WHOLD	AGNST
1.05	Elect Warren R. Staley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Elim. supermajority requirement for business trans			MGMT	YES	FOR	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Limit non-audit fees			SHLDR	YES	AGNST	FOR

*Union Pacific Corp*		*UNP*	*907818108*	*5/5/05*	*Annual*
1.01	Elect Phillip F. Anschutz			MGMT	YES	FOR	FOR
1.02	Elect Richard K. Davidson			MGMT	YES	FOR	FOR
1.03	Elect Erroll B. Davis Jr.			MGMT	YES	FOR	FOR
1.04	Elect Thomas J. Donohue			MGMT	YES	FOR	FOR
1.05	Elect Archie W. Dunham			MGMT	YES	FOR	FOR
1.06	Elect Spencer F. Eccles			MGMT	YES	FOR	FOR
1.07	Elect James R. Young			MGMT	YES	FOR	FOR
1.08	Elect Michael W. McConnell			MGMT	YES	FOR	FOR
1.09	Elect Steven R. Rogel			MGMT	YES	FOR	FOR
1.10	Elect Judith R. Hope			MGMT	YES	FOR	FOR
1.11	Elect Ernesto Zedillo			MGMT	YES	FOR	FOR
2.00	Adopt the Executive Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Unocal Corp*		*UCL*	*915289102*	*5/23/05*	*Annual*
1.01	Elect Craig Arnold			MGMT	YES	FOR	FOR
1.02	Elect James W. Crownover			MGMT	YES	FOR	FOR
1.03	Elect Donald B. Rice			MGMT	YES	FOR	FOR
1.04	Elect Mark A. Suwyn			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Independent board chairman			SHLDR	YES	AGNST	FOR

*Valero Energy Corp*		*VLO*	*91913Y100*	*9/13/04*	*Special*
1.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR

*Valero Energy Corp*		*VLO*	*91913Y100*	*4/28/05*	*Annual*
1.01	Elect William E. Bradford			MGMT	YES	FOR	FOR
1.02	Elect Ronald K. Calgaard			MGMT	YES	FOR	FOR
1.03	Elect William E. Greehey			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR

*Verizon Communications*		VZ	*92343V104*	*5/5/05*	*Annual*
1.01	Elect James R. Barker			MGMT	YES	FOR	FOR
1.02	Elect Richard L. Carrion			MGMT	YES	FOR	FOR
1.03	Elect Robert W. Lane			MGMT	YES	FOR	FOR
1.04	Elect Sandra O. Moose			MGMT	YES	FOR	FOR
1.05	Elect Joseph Neubauer			MGMT	YES	WHOLD	AGNST
1.06	Elect Thomas H. O'Brien			MGMT	YES	FOR	FOR
1.07	Elect Hugh B. Price			MGMT	YES	FOR	FOR
1.08	Elect Ivan G. Seidenberg			MGMT	YES	FOR	FOR
1.09	Elect Walter V. Shipley			MGMT	YES	FOR	FOR
1.10	Elect John R. Stafford			MGMT	YES	FOR	FOR
1.11	Elect Robert D. Storey			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt cumulative voting			SHLDR	YES	AGNST	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
5.00	Increase board independence			SHLDR	YES	FOR	AGNST
6.00	Independent board chairman			SHLDR	YES	AGNST	FOR
7.00	Director liability			SHLDR	YES	AGNST	FOR
8.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR

*Wachovia Corp*		WB	*929903102*	*10/28/04*	*Special*
1.00	Approve Merger/Acquisition			MGMT	YES	FOR	FOR
	Approve Common Stock Issuance

*Wachovia Corp*		WB	*929903102*	*4/19/05*	*Annual*
1.01	Elect John D. Baker II			MGMT	YES	FOR	FOR
1.02	Elect Peter C. Browning			MGMT	YES	FOR	FOR
1.03	Elect Donald M. James			MGMT	YES	WHOLD	AGNST
1.04	Elect Van L. Richey			MGMT	YES	FOR	FOR
1.05	Elect G. Kennedy Thompson			MGMT	YES	FOR	FOR
1.06	Elect John C. Whitaker Jr.			MGMT	YES	FOR	FOR
1.07	Elect Wallace D. Malone Jr.			MGMT	YES	FOR	FOR
1.08	Elect Robert J. Brown			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Wells Fargo & Co*		*WFC*	*949746101*	*4/26/05*	*Annual*
1.01	Elect John A. Blanchard III			MGMT	YES	FOR	FOR
1.02	Elect Susan E. Engel			MGMT	YES	FOR	FOR
1.03	Elect Enrique Hernandez Jr.			MGMT	YES	WHOLD	AGNST
1.04	Elect Robert L. Joss			MGMT	YES	FOR	FOR
1.05	Elect Reatha Clark King			MGMT	YES	FOR	FOR
1.06	Elect Richard M. Kovacevich			MGMT	YES	FOR	FOR
1.07	Elect Richard D. McCormick			MGMT	YES	FOR	FOR
1.08	Elect Cynthia H. Milligan			MGMT	YES	WHOLD	AGNST
1.09	Elect Philip J. Quigley			MGMT	YES	FOR	FOR
1.10	Elect Donald B. Rice			MGMT	YES	WHOLD	AGNST
1.11	Elect Judith M. Runstad			MGMT	YES	WHOLD	AGNST
1.12	Elect Stephen W. Sanger			MGMT	YES	FOR	FOR
1.13	Elect Susan G. Swenson			MGMT	YES	FOR	FOR
1.14	Elect Michael W. Wright			MGMT	YES	WHOLD	AGNST
2.00	Add shares to the Long-Term Incentive Compensation Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
4.00	Review fair lending policy			SHLDR	YES	AGNST	FOR
5.00	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
8.00	Independent board chairman			SHLDR	YES	AGNST	FOR

*Whirlpool Corp*		*WHR*	*963320106*	*4/19/05*	*Annual*
1.01	Elect Herman Cain			MGMT	YES	FOR	FOR
1.02	Elect Jeff M. Fettig			MGMT	YES	FOR	FOR
1.03	Elect Miles L. Marsh			MGMT	YES	FOR	FOR
1.04	Elect Paul G. Stern			MGMT	YES	FOR	FOR
1.05	Elect Michael D. White			MGMT	YES	FOR	FOR
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR

*Willis Group Holdings Ltd*		*WSH*	*G96655108*	*5/6/05*	*Annual*
1.01	Elect Gordon M. Bethune			MGMT	YES	FOR	FOR
1.02	Elect William W. Bradley			MGMT	YES	FOR	FOR
1.03	Elect Joseph A. Califano Jr.			MGMT	YES	FOR	FOR
1.04	Elect James R. Fisher			MGMT	YES	FOR	FOR
1.05	Elect Perry Golkin			MGMT	YES	FOR	FOR
1.06	Elect Paul M. Hazen			MGMT	YES	FOR	FOR
1.07	Elect Wendy E. Lane			MGMT	YES	FOR	FOR
1.08	Elect James F. McCann			MGMT	YES	FOR	FOR
1.09	Elect Scott C. Nuttall			MGMT	YES	FOR	FOR
1.10	Elect Joseph Plumeri			MGMT	YES	FOR	FOR
1.11	Elect Douglas B. Roberts			MGMT	YES	FOR	FOR
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Amend stock option plan			MGMT	YES	AGNST	AGNST
4.00	Amend stock option plan			MGMT	YES	AGNST	AGNST
5.00	Approve executive profit sharing/bonus plan			MGMT	YES	FOR	FOR
6.00	Amend meeting procedures/change date			MGMT	YES	FOR	FOR
7.00	Amend terms of indemnification			MGMT	YES	FOR	FOR

*Wisconsin Energy Corp*		*WEC*	*976657106*	*5/5/05*	*Annual*
1.01	Elect John F. Ahearne			MGMT	YES	FOR	FOR
1.02	Elect John F. Bergstrom			MGMT	YES	FOR	FOR
1.03	Elect Barbara L. Bowles			MGMT	YES	FOR	FOR
1.04	Elect Robert A. Cornog			MGMT	YES	FOR	FOR
1.05	Elect Curt S. Culver			MGMT	YES	FOR	FOR
1.06	Elect Gale E. Klappa			MGMT	YES	FOR	FOR
1.07	Elect Ulice Payne Jr.			MGMT	YES	FOR	FOR
1.08	Elect Frederick P. Stratton Jr.			MGMT	YES	FOR	FOR
1.09	Elect George E. Wardeberg			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Wyeth*		*WYE*	*983024100*	*4/21/05*	*Annual*
1.01	Elect Richard L. Carrion			MGMT	YES	FOR	FOR
1.02	Elect Robert Essner			MGMT	YES	FOR	FOR
1.03	Elect John D. Feerick			MGMT	YES	FOR	FOR
1.04	Elect Frances D. Fergusson			MGMT	YES	FOR	FOR
1.05	Elect Robert S. Langer			MGMT	YES	FOR	FOR
1.06	Elect John P. Mascotte			MGMT	YES	FOR	FOR
1.07	Elect Mary Lake Polan			MGMT	YES	FOR	FOR
1.08	Elect Ivan G. Seidenberg			MGMT	YES	FOR	FOR
1.09	Elect Walter V. Shipley			MGMT	YES	FOR	FOR
1.10	Elect John R. Torell III			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
5.00	Independent board chairman			SHLDR	YES	AGNST	FOR
6.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
7.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR

*Xerox Corp*		*XRX*	*984121103*	*5/19/05*	*Annual*
1.01	Elect Glenn A. Britt			MGMT	YES	FOR	FOR
1.02	Elect Richard J. Harrington			MGMT	YES	FOR	FOR
1.03	Elect William Curt Hunter			MGMT	YES	FOR	FOR
1.04	Elect Vernon E. Jordan Jr.			MGMT	YES	WHOLD	AGNST
1.05	Elect Hilmar Kopper			MGMT	YES	FOR	FOR
1.06	Elect Ralph S. Larsen			MGMT	YES	FOR	FOR
1.07	Elect Robert A. McDonald			MGMT	YES	FOR	FOR
1.08	Elect Anne M. Mulcahy			MGMT	YES	FOR	FOR
1.09	Elect N. J. Nicholas Jr.			MGMT	YES	FOR	FOR
1.10	Elect Ann N. Reese			MGMT	YES	FOR	FOR
1.11	Elect Stephen Robert			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*XL Capital Ltd*		XL	*G98255105*	*4/29/05*	*Annual*
1.01	Elect Michael P. Esposito Jr.			MGMT	YES	FOR	FOR
1.02	Elect Robert R. Glauber			MGMT	YES	FOR	FOR
1.03	Elect Cyril Rance			MGMT	YES	FOR	FOR
1.04	Elect Ellen E. Thrower			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 1991 Performance Incentive Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan

Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to be have been voted against management's recommendation, regardless of whether the recommendation is 'For' or 'Against,' except where management has made no recommendation or has recommended that shareholders 'Abstain.'

Where management has recommended that shareholders 'Abstain' from voting on a ballot item: 1) a ballot market 'Abstain' is considered to have been voted for management's recommendation to 'Abstain' and 2) a ballot voted 'For" or 'Against' is considered to have been voted against management's recommendation to 'Abstain.'

Where management has made no recommendation on a ballot item, the abbreviation "N/A" is used to denote that there is no applicable recommendation compared to which a vote may be 'For' or 'Against' the recommendation of management.

SIGNATURES:

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Putnam Equity Income Fund
- -------------------------------------------------------------------------
       (Registrant)


By /s/ Charles E. Porter, Executive Vice President, Associate Treasurer
   and Principal Executive Officer
   _______________________________________________________________________
       (Signature & Title)


Date July 28, 2005

Putnam Equity Income Fund (PEQNX) N-PXAnnual report of proxy voting record