Fidelity Advisor Emerging Asia Fund Class C (FERCX) N-PX 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: 811-03855

EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER: Fidelity Advisor Series VIII

Fund Name: Fidelity Advisor Latin America Fund

82 DEVONSHIRE STREET, BOSTON, MA 02109
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)

ERIC D. ROITER, SECRETARY, 82 DEVONSHIRE STREET, BOSTON, MA 02109
(NAME AND ADDRESS OF AGENT FOR SERVICE)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: 617-563-7000

DATE OF FISCAL YEAR END: OCTOBER 31

DATE OF REPORTING PERIOD: 06/30/2005

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, THERE UNTO DULY AUTHORIZED.

Fidelity Advisor Series VIII

BY:  /s/ CHRISTINE REYNOLDS
-----------------------------------------------------
CHRISTINE REYNOLDS, TREASURER, FIDELITY MANAGEMENT & RESEARCH COMPANY
DATE: 08/09/2005 09:51:09 AM

EXHIBIT A

VOTE SUMMARY REPORT
Fidelity Advisor Latin America Fund
07/01/2004 - 06/30/2005

Note: The Security ID will be the CUSIP (Committee on Uniform Securities Identification Procedures) when available. When CUSIP is not available, an alternate identifier, e.g., CINS, will be provided.

ISSUER NAME: ALFA SA DE CV MEETING DATE: 04/05/2005
TICKER: --     SECURITY ID: P47194116
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU.	N/A	N/A	N/A
2	RECEIVE AND APPROVE THE ADMINISTRATIVE COUNCIL S REPORT REFERRED TO IN ARTICLE 172 OF THE GENERAL ACT OF COMMERCIAL COMPANIES, FROM FY 2004; AND THE COMMISSIONERS REPORT AND THE AUDITING COMMITTEE REPORT	N/A	N/A	N/A
3	APPROVE THE ADMINISTRATIVE COUNCIL CONCERNING THE ALLOCATION OF PROFITS FROM FY 2004, INCLUDING I) THE PAYMENT OF A CASH DIVIDEND, AND, II) THE DETERMINATION OF THE MAXIMUM AMOUNT OF FUNDS TO BE USED TO BUY THE COMPANY S OWN SHARES1	N/A	N/A	N/A
4	ELECT THE MEMBERS OF THE ADMINISTRATIVE COUNCIL AND THE COMPANY S COMMISSIONERS, AND APPROVE TO DETERMINE THEIR WAGES; RELATED RESOLUTIONS	N/A	N/A	N/A
5	APPROVE THE DESIGNATION OF DELEGATES	N/A	N/A	N/A
6	RECEIVE AND APPROVE THE MINUTES OF THE MEETING	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: ALFA SA DE CV MEETING DATE: 05/06/2005
TICKER: --     SECURITY ID: P47194116
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	AMEND THE RESOLUTION NUMBER 6 ADOPTED BY THE EGM OF THE SHAREHOLDERS HELD ON 04 FEB 2004 IN ORDER TO AUTHORIZE THE BOARD OF DIRECTORS TO CALL A DISTINCT MEETING OF SHAREHOLDERS, IN THE DATE DEFINED BY THE BOARD, TO BE HELD IN 2005, IN ORDER THAT THE SHAREHOLDERS MAY, WHERE APPROPRIATE, APPROVE EXECUTING THE SECOND REDUCTION OF THE CAPITAL AND STOCKHOLDER S EQUITY OF ALFA, AS PROVIDED IN SUCH RESOLUTION NUMBER 6	N/A	N/A	N/A
2	APPOINT THE DELEGATES	N/A	N/A	N/A
3	APPROVE THE MINUTES OF THE MEETING	N/A	N/A	N/A
4	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU.	N/A	N/A	N/A

ISSUER NAME: AMERICA TELECOM SA DE CV MEETING DATE: 04/27/2005
TICKER: --     SECURITY ID: P0289K100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU	N/A	N/A	N/A
2	APPROVE THE BOARD OF DIRECTORS REPORT FOR FYE 31 DEC 2004; INCLUDING THE FINANCIAL STATEMENTS, THE COMPTROLLERS REPORT, THE AUDITING COMMITTEE AND THE COMPANY S SUBSIDIARIES REPORT, INCLUDING ALLOCATION OF PROFITS.	N/A	N/A	N/A
3	APPROVE THE BOARD OF DIRECTORS PERFORMANCE FOR FY 2004; ELECT OR RATIFY THE MEMBERS OF THE BOARD OF DIRECTORS, AS WELL AS THE COMPANY S COMPTROLLERS INCLUDING THE PRINCIPAL AND THE ALTERNATE MEMBERS AND DETERMINE THEIR REMUNERATION.	N/A	N/A	N/A
4	ELECT OR RATIFY THE PERSONS WHO WILL FORM THE COMMITTEES OF THE COMPANY AND ESTABLISH THEIR REMUNERATION.	N/A	N/A	N/A
5	APPROVE THE MAXIMUM AMOUNT OF FUNDS THAT CAN BE ALLOCATED TOWARDS THE PURCHASE OF OWN SHARES DURING FY 2005, AS WELL AS THE ESTABLISHMENT OF POLICY AND TERMS RELATED TO REPURCHASES OF OWN SHARES	N/A	N/A	N/A
6	APPROVE TO DESIGNATE DELEGATES TO CARRY OUT MEETING RESOLUTIONS	N/A	N/A	N/A

ISSUER NAME: BANCO BRADESCO SA BRAD MEETING DATE: 03/10/2005
TICKER: --     SECURITY ID: P1808G117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE TO TAKE THE ACCOUNTS OF THE DIRECTORS, TO EXAMINE, DISCUSS AND VOTE UPON THE BOARD OF DIRECTORS ANNUAL REPORT, THE FINANCIAL STATEMENTS, INCLUDING THE DISTRIBUTION OF THE NET PROFITS AND INDEPENDENT AUDITORS REPORT RELATING TO FYE 31 DEC 2004	N/A	N/A	N/A
2	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	Management	Unknown	None
3	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	None
4	APPROVE TO SET THE DIRECTORS GLOBAL, ANNUAL REMUNERATION IN ACCORDANCE WITH THE TERMS OF THE COMPANY BY LAWS	N/A	N/A	N/A
5	PREFERRED SHAREHOLDERS MAY VOTE ONLY ON RESOLUTION 2 AND 3. THANK YOU.	N/A	N/A	N/A
6	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU1	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BANCO BRADESCO SA BRAD MEETING DATE: 03/10/2005
TICKER: --     SECURITY ID: P1808G117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU	N/A	N/A	N/A
2	RATIFY THE NAME OF THE COMPANY THAT WILL EVALUATE THE COMPANY S ASSETS	N/A	N/A	N/A
3	APPROVE THE PROTOCOL OF INCORPORATION OF THE SHARES AND THE EVALUATION OF THECOMPANY S ASSETS: THIS OPERATION WOULD INCREASE THE BRADESCO SHARE CAPITAL BY BRL 11,856,359.57 FROM AN AMOUNT OF BRL 7,700,000,000.00 TO BRL 7,711,856,359.07; THIS WOULD OCCUR THROUGH THE ISSUANCE OF 363,271 NEW SHARES WITHOUT NOMINAL VALUE. 182,504 WOULD BE ORDINARY SHARES AND 180,767 WOULD BE PREFERRED SHARES; THIS WOULD CORRESPOND TO 165.12329750137 NEW BRADESCO SHARES FOR EVERY BRADESCO SEGUROS SHARE; ALSO, 82,9565...	N/A	N/A	N/A
4	APPROVE TO INCREASE THE SHARE CAPITAL BY BRL 2,288,143,640.93 FROM AN AMOUNT OF BRL 7,711,856,359.07 TO BRL 10,000,000,000.00 WITHOUT ISSUANCE OF SHARES; THIS WOULD OCCUR THROUGH THE CAPITALIZATION OF THE RESERVES	N/A	N/A	N/A
5	APPROVE THE CHANGES IN THE ARTICLES OF ASSOCIATION DUE THE INCLUSION OF LETTER J ON SINGLE PARAGRAPH ARTICLE 21 CONCERNING THE FUNCTIONS OF THE AUDIT COMMITTEE	N/A	N/A	N/A
6	APPROVE THE RECOMMENDATION OF THE BRAZILIAN CENTRAL BANK, IT IS PROPOSED TO ELECT THE PROFESSIONALS THAT WOULD EVALUATE THE REAL ESTATES IN CASE OF ACQUISITION OR SELLING BETWEEN THE COMPANY AND ITS SUBSIDIARY COMPANIES	N/A	N/A	N/A

ISSUER NAME: BANCO DO BRASIL S A MEDIUM TERM NTS BOOK ENTRY REG S MEETING DATE: 12/22/2004
TICKER: --     SECURITY ID: P11427112
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	MPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	ELECT THE MEMBERS OF THE FINANCE COMMITTEE TO FILL THE VACANCIES	Management	Unknown	None
3	APPROVE TO INCREASE IN CORPORATE STOCK FROM THE CONCLUSION OF THE PRIVATE SHARE ISSUE PROCESS AND THE PUBLIC PURCHASE OFFER OF THE SUBSCRIPTION BONUSES, WITH THE CONSEQUENT AMENDMENT TO ARTICLE 7 OF THE COMPANY BYLAWS	Management	Unknown	None
4	AMEND ARTICLES 21 AND 23 OF THE COMPANY BYLAWS ON THE FUNCTIONING OF THE AUDIT COMMITTEE AND AUTHORIZE THE BOARD OF DIRECTORS TO ADOPT THE NECESSARY MEASURES FOR IMPLEMENTING THE CHANGES PROPOSED	Management	Unknown	None
5	APPROVE TO ADJUST THE DIRECTORS GLOBAL ANNUAL REMUNERATION FOR THE PERIOD COVERING MAY 2004 TO APR 2005, SET IN THE AGM HELD ON 27 APR 2004	Management	Unknown	None
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BANCO DO BRASIL SA BB BRASIL MEETING DATE: 04/26/2005
TICKER: --     SECURITY ID: P11427112
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU1	N/A	N/A	N/A
2	APPROVE TO DELIBERATE ON THE BUDGET OF CAPITAL	Management	Unknown	For
3	APPROVE THE BOARD OF DIRECTORS, FINANCIAL STATEMENTS, THE EXTERNAL AUDITORS AND THE FINANCE COMMITTEE AND THE DOCUMENTS OPINION REPORT RELATING TO FYE 31 DEC 2004	Management	Unknown	For
4	APPROVE TO DELIBERATE ON THE DISTRIBUTION OF THE FY S NET PROFITS AND DISTRIBUTION OF DIVIDENDS	Management	Unknown	For
5	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
6	APPROVE TO SET THE MEMBERS OF FINANCE COMMITTEE REMUNERATION	Management	Unknown	For
7	ELECT THE MEMBERS OF THE BOARD OF THE DIRECTORS	Management	Unknown	For
8	APPROVE TO SET THE DIRECTORS REMUNERATION	Management	Unknown	For
9	APPROVE THE CAPITALIZATION OF THE PART OF THE BALANCE IN THE EXPANSION RESERVES	Management	Unknown	For
10	AMEND THE COMPANY BY-LAWS, COVERING A) AMENDING ARTICLE 7; B) AMENDING PARAGRAPHS 4 AND 5 OF ARTICLE 34 AND C) AMENDING ARTICLE 541	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BANCO ITAU HOLDING FINANCEIRA SA MEETING DATE: 04/27/2005
TICKER: --     SECURITY ID: P1391K111
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN AGM. THANK YOU.	N/A	N/A	N/A
2	PLEASE NOTE THAT THE PREFERRED SHAREHOLDERS CAN VOTE ON ITEM 4. THANK YOU.	N/A	N/A	N/A
3	ACKNOWLEDGE THE BOARD OF DIRECTORS REPORT AND THE OPINIONS OF THE FINANCE COMMITTEE, THE INDEPENDENT AUDITORS AND THE INTERNAL CONTROLS COMMITTEE, AND EXAMINE FOR APPROVAL THE BALANCE SHEETS, ACCOUNTS AND EXPLANATORY NOTES FOR THE FYE 31 DEC 2004	N/A	N/A	N/A
4	APPROVE THE DISTRIBUTION OF THE FINANCIAL YEARS NET PROFITS	N/A	N/A	N/A
5	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
6	ELECT THE MEMBERS OF THE FINANCE COMMITTEE AND RESPECTIVE SUBSTITUTE	Management	Unknown	For
7	APPROVE TO SET THE DIRECTORS, BOARD OF DIRECTORS, CONSULTATIVE AND INTERNATIONAL CONSULTATIVE COUNCILS AND FINANCE COMMITTEE REMUNERATION	N/A	N/A	N/A

ISSUER NAME: BANCO SANTANDER CHILE MEETING DATE: 04/19/2005
TICKER: SAN     SECURITY ID: 05965X109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	SUBMIT FOR APPROVAL THE ANNUAL REPORT, BALANCE SHEET AND CONSOLIDATED FINANCIAL STATEMENTS OF THE BANK AND ITS SUBSIDIARIES, THE INDEPENDENT REPORT OF THE EXTERNAL AUDITORS, AND THE NOTES CORRESPONDING TO THE FINANCIAL YEAR ENDING DECEMBER 31ST OF 2004.	Management	For	For
2	ALLOCATION OF 2004 NET INCOME. A DIVIDEND OF CH$1.05491871 PER SHARE WILL BE PROPOSED AND IF APPROVED WILL BE PAID BEGINNING ON APRIL 29, 2005. THIS WOULD CORRESPOND TO A PAYOUT OF 100% OF 2004 EARNINGS.	Management	For	For
3	DESIGNATION OF EXTERNAL AUDITORS.	Management	For	For
4	ELECTION OF BOARD AND ALTERNATE BOARD MEMBERS.	Management	For	For
5	DETERMINATION OF BOARD REMUNERATION.	Management	For	For
6	DIRECTORS COMMITTEE S ANNUAL REPORT AND APPROVAL OF DIRECTORS COMMITTEE S BUDGET FOR 2005.	Management	For	For
7	ACCOUNT OF ALL OPERATIONS WITH RELATED PARTIES AS DEFINED BY ARTICLE 44 OF LAW 18,046. THESE OPERATIONS ARE DETAILED ON NOTE 4 OF THE CONSOLIDATED BALANCE SHEET.	Management	For	For
8	DISCUSS ANY MATTER OF INTEREST THAT SHOULD BE DISCUSSED IN AN ORDINARY SHAREHOLDERS MEETING AS DEFINED BY LAW AND BY BANK S BYLAWS.	Management	For	Abstain

ISSUER NAME: BRADESPAR SA MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P1808W104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	PLEASE NOTE THAT PREFERRED SHAREHOLDERS CAN ONLY VOTE IN ITEM 3. THANK YOU.	N/A	N/A	N/A
3	RECEIVE THE ACCOUNTS OF THE DIRECTOR S, BOARD OF DIRECTORS ANNUAL REPORT, FINANCIAL STATEMENTS AND EXTERNAL AUDITORS OPINION REPORT RELATING TO FYE 31 DEC 2003 AND DELIBERATE ABOUT LOSS ABSORPTION IN THE FY OF BRL 113,968,264.13 USING PART OF THE ACCOUNT BALANCE SURPLUS RESERVE-CAPITAL INCREASE RESERVE REQUIRED BY THE COMPANY S BYLAWS THROUGH PROVISIONS IN SOLE PARAGRAPH OF ARTICLE 4 OF LAW NUMBER 6,404/76	N/A	N/A	N/A
4	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
5	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
6	APPROVE TO SET THE DIRECTORS GLOBAL REMUNERATION	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BRASIL TELECOM PARTICIPACOES SA MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P18430168
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND APPROVE THE BOARD OF DIRECTORS REPORT, THE COMPANY S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	Management	Unknown	For
3	APPROVE THE DESTINATION OF THE YE RESULTS OF 2004 AND TO DISTRIBUTE DIVIDENDS	Management	Unknown	For
4	ELECT THE MEMBERS OF THE FINANCE COMMITTEE AND THE RESPECTIVE SUBSTITUTES	Management	Unknown	For
5	APPROVE TO SET THE GLOBAL REMUNERATION OF THE BOARD OF DIRECTORS AND THE FINANCE COMMITTEE	Management	Unknown	For
6	APPROVE TO RE-WRITE ARTICLE 5 OF THE COMPANY BY-LAWS	Management	Unknown	Abstain
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BRASKEM S A MEDIUM TERM NTS BOOK ENTRY REG S MEETING DATE: 03/31/2005
TICKER: --     SECURITY ID: P18533110
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND APPROVE THE BOARD OF DIRECTORS REPORT; THE COMPANY S CONSOLIDATED FINANCIAL STATEMENTS AND EXPLANATORY NOTES FOR THE FYE 31 DEC 2004	N/A	N/A	N/A
2	APPROVE THE BUDGET OF CAPITAL FOR THE YEAR OF 2005	N/A	N/A	N/A
3	APPROVE THE DISTRIBUTION OF FISCAL YEAR S NET PROFITS	N/A	N/A	N/A
4	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
5	PREFERRED SHAREHOLDERS CAN VOTE ON ITEM 4 ONLY. THANK YOU	N/A	N/A	N/A
6	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: BUNGE LIMITED MEETING DATE: 05/27/2005
TICKER: BG     SECURITY ID: G16962105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1.1	ELECT ERNEST G. BACHRACH AS A DIRECTOR	Management	For	For
1.2	ELECT ENRIQUE H. BOILINI AS A DIRECTOR	Management	For	For
1.3	ELECT MICHAEL H. BULKIN AS A DIRECTOR	Management	For	For
1.4	ELECT PAUL H. HATFIELD AS A DIRECTOR	Management	For	For
2	TO APPOINT DELOITTE & TOUCHE LLP AS BUNGE LIMITED S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2005 AND TO AUTHORIZE BUNGE LIMITED S BOARD OF DIRECTORS, ACTING THROUGH ITS AUDIT COMMITTEE, TO DETERMINE THE INDEPENDENT AUDITORS FEES.1	Management	For	For
3	TO APPROVE THE AMENDMENTS TO BYE-LAWS 11 AND 41, AS RENUMBERED	Management	For	For
4	TO APPROVE THE ADDITION OF BYE-LAW 35 AND CONSEQUENT RENUMBERING OF THE BYE-LAWS	Management	For	For
5	TO APPROVE THE AMENDMENTS TO BYE-LAWS 7, 15(2), 17 AND 18(3).1	Management	For	For
6	TO APPROVE THE AMENDMENTS TO BYE-LAWS 3(1), 3(2) AND 34.1	Management	For	For
7	TO APPROVE THE BUNGE LIMITED ANNUAL INCENTIVE PLAN AND MATERIAL TERMS OF EXECUTIVE OFFICER PERFORMANCE MEASURES FOR PURPOSES OF SECTION 162(M) OF THE INTERNAL REVENUE CODE.1	Management	For	For
8	TO APPROVE THE AMENDMENTS TO BYE-LAW 49(3), AS RENUMBERED.1	Management	For	For
9	TO APPROVE THE AMENDMENTS TO BYE-LAW 1(1), 49(4) AND 50(2), AS RENUMBERED, WHERE APPLICABLE.1	Management	For	For
10	TO AUTHORIZE THE BOARD OF DIRECTORS TO APPOINT ADDITIONAL DIR- ECTORS FROM TIME TO TIME IN ACCORDANCE WITH PROPOSED BYE-LAW 11.	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CAEMI MINERACAO E METALURGIA SA MEETING DATE: 04/15/2005
TICKER: --     SECURITY ID: P1915P109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU	N/A	N/A	N/A
2	PLEASE NOTE THAT THESE SHARES HAVE NVR. THANK YOU.	N/A	N/A	N/A
3	APPROVE THE FINANCIAL STATEMENTS AND THE STATUTORY REPORTS	N/A	N/A	N/A
4	APPROVE THE ALLOCATION OF INCOME AND DIVIDENDS	N/A	N/A	N/A
5	ELECT THE MEMBERS AND THE ALTERNATES TO THE BOARD OF DIRECTORS; APPROVE TO DEISIGNATE THE CHAIRMAN	N/A	N/A	N/A
6	APPROVE THE ANNUAL REMUNERATION OF THE DIRETCORS	N/A	N/A	N/A
7	APPROVE THE INCREASE IN CAPITAL THROUGH CAPITALIZATION OF RESERVES WITHOUT ISSUANCE OF SHARES; AND AMEND ARTICLE 5	N/A	N/A	N/A

ISSUER NAME: CAP SA CAP COMPANIA DE ACEROS DEL PACIFICO MEETING DATE: 04/14/2005
TICKER: --     SECURITY ID: P25625107
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN AGM. THANK YOU.	N/A	N/A	N/A
2	APPROVE THE 2004 FINANCIAL STATEMENTS	Management	Unknown	For
3	APPROVE THE DISTRIBUTION OF PROFITS AND DIVIDENDS	Management	Unknown	For
4	OTHER MATTERS	Management	Unknown	Abstain

ISSUER NAME: CEMEX, S.A. DE C.V. MEETING DATE: 04/28/2005
TICKER: CX     SECURITY ID: 151290889
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PRESENTATION, DISCUSSION AND, IF APPLICABLE, APPROVAL OF THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004, AS REQUIRED BY THE MEXICAN CORPORATION LAW AND THE SECURITIES MARKET LAW, AFTER PRESENTATION OF THE REPORTS.	Management	For	For
2	PROPOSAL FOR THE ALLOCATION OF PROFITS AND THE MAXIMUM AMOUNT OF FUNDS TO BE USED FOR THE PURCHASE OF COMPANY SHARES.	Management	For	For
3	PROPOSAL TO INCREASE THE CAPITAL STOCK OF THE COMPANY IN ITS VARIABLE PORTION THROUGH CAPITALIZATION CHARGED AGAINST RETAINED EARNINGS, SUBMITTED FOR CONSIDERATION OF THE SHAREHOLDERS AT THE MEETING.	Management	For	For
4	APPOINTMENT OF DIRECTORS AND STATUTORY AUDITORS, ACCORDING TO THE PROPOSAL OF SHAREHOLDERS SUBMITTED FOR CONSIDERATION.	Management	For	For
5	COMPENSATION OF DIRECTORS AND STATUTORY AUDITORS, ACCORDING TO THE PROPOSAL OF SHAREHOLDERS SUBMITTED FOR CONSIDERATION.	Management	For	For
6	APPOINTMENT OF DELEGATES TO FORMALIZE THE RESOLUTIONS ADOPTED AT THE MEETING.	Management	For	For
7	PROPOSAL TO SPLIT EACH OF THE COMPANY S SERIES A AND SERIES B SHARES CURRENTLY OUTSTANDING INTO TWO NEW SHARES OF THE SAME SERIES AND TYPE OF CAPITAL, FIXED OR VARIABLE, AND TO AMEND ARTICLE 6 OF THE COMPANY S BY-LAWS OR ESTATUTOS SOCIALES.	Management	For	For
8	APPOINTMENT OF DELEGATES TO FORMALIZE THE RESOLUTIONS ADOPTED AT THE MEETING.	Management	For	For

ISSUER NAME: CENTRAIS ELETRICAS BRASILEIRAS SA-ELETROBRAS MEETING DATE: 04/28/2005
TICKER: --     SECURITY ID: P22854106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	PLEASE NOTE THAT PREFERRED SHAREHOLDERS CAN VOTE IN ITEM 4	N/A	N/A	N/A
3	PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING 224845 DUE TO CHANGE IN THE VOTING STATUS. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDED AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.	N/A	N/A	N/A
4	ACKNOWLEDGE THE DIRECTOR S ACCOUNTS AND APPROVE THE BOARD OF DIRECTOR S REPORT, THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	N/A	N/A	N/A
5	APPROVE THE CAPITAL BUDGET	N/A	N/A	N/A
6	APPROVE THE DESTINATION OF THE YEAR END RESULTS OF 2004 AND TO DISTRIBUTE THEDIVIDENDS	N/A	N/A	N/A
7	ELECT THE MEMBERS OF THE FINANCE COMMITTEE AND THE RESPECTIVE SUBSTITUTES	Management	Unknown	For
8	APPROVE TO SET THE GLOBAL REMUNERATION OF THE BOARD OF DIRECTORS AND THE EXECUTIVE DIRECTORS	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CIA ENERGETICA DE MINAS GERAIS CEMIG CMIG MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P2577R110
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OFATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	PLEASE NOTE THAT PREFERRED SHAREHOLDERS CAN VOTE ONLY ON ITEM 4	N/A	N/A	N/A
3	APPROVE THE BOARD OF DIRECTORS REPORT AND FINANCIAL STATEMENTS FOR THE FYE 31DEC 2004 AS WELL AS THE RESPECTIVE COMPLEMENTARY DOCUMENTS	N/A	N/A	N/A
4	APPROVE TO DISTRIBUTE THE NET PROFITS FROM THE 2004 FY IN ACCORDANCE WITH THEPROVISIONS OF ARTICLE 192 OF THE LAW NUMBER 6.404/76 AS AMENDED	N/A	N/A	N/A
5	APPROVE TO SET THE MANNER AND DATE FOR PAYMENT OF INTEREST ON OWN CAPITAL ANDDIVIDENDS OF BRL 692,400	N/A	N/A	N/A
6	ELECT THE MEMBERS AND THE SUBSTITUTE MEMBERS OF THE FINANCE COMMITTEE AND SETTHEIR REMUNERATION	Management	Unknown	For
7	APPROVE TO SET THE REMUNERATION OF THE COMPANYS DIRECTORS	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: CIA VALE DO RIO DOCE MEETING DATE: 04/27/2005
TICKER: --     SECURITY ID: P2605D109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	PLEASE NOTE THAT THE PREFERRED SHAREHOLDERS CAN VOTE ON RESOLUTION D. THANK YOU.	N/A	N/A	N/A
3	APPROVE TO VOTE UPON THE BOARD OF DIRECTORS ANNUAL REPORT, THE FINANCIAL STATEMENTS, RELATING TO FYE 31 DEC 2004	N/A	N/A	N/A
4	APPROVE THE FYS NET PROFITS AND THE BUDGET OF CAPITAL FOR THE YEAR 2005	N/A	N/A	N/A
5	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
6	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
7	APPROVE TO SET THE DIRECTORS GLOBAL REMUNERATION	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: COMPANHIA DE SANEAMENTO BASICO MEETING DATE: 03/21/2005
TICKER: SBS     SECURITY ID: 20441A102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	ELECTION OF BOARD OF DIRECTORS MEMBER, UNDER THE TERMS OF THE PARAGRAPH 3 OF ARTICLE 14 OF THE COMPANY S BY-LAWS.	Management	Unknown	For
2	OTHER ISSUES OF CORPORATE INTEREST.	Management	Unknown	Abstain

ISSUER NAME: COMPANHIA DE SANEAMENTO BASICO MEETING DATE: 04/29/2005
TICKER: SBS     SECURITY ID: 20441A102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	TO ANALYZE THE MANAGEMENT ACCOUNTS AND FINANCIAL STATEMENTS SUPPORTED BY THE OPINIONS OF THE FISCAL COUNCIL AND EXTERNAL ACCOUNTANTS, RELATED TO THE YEAR 2004, IN CONFORMITY WITH THE MANAGEMENT REPORT, THE BALANCE SHEET AND CORRESPONDING NOTES.	Management	Unknown	For
2	TO RESOLVE ON THE ALLOCATION OF THE NET INCOME AND THE TRANSFER OF THE RETAINED EARNINGS BALANCE TO THE INVESTMENT RESERVE.	Management	Unknown	For
3	TO ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND FISCAL COUNCIL, SITTING AND DEPUTY MEMBERS.	Management	Unknown	For
4	TO RATIFY THE BOARD OF DIRECTORS NEW COMPENSATION CRITERION.	Management	Unknown	For
5	AS A RESULT OF THE APPROVAL OF THE PREVIOUS ITEM, TO AMEND THE CAPUT OF THE ARTICLE 15 OF THE COMPANY S BYLAWS, MENTIONING THAT THE BOARD OF DIRECTORS SHALL MEET, MONTHLY, ON AN ORDINARY BASIS.	Management	Unknown	For

ISSUER NAME: COMPANHIA ENERGETICA DE MINAS GERAIS MEETING DATE: 01/18/2005
TICKER: --     SECURITY ID: P2577R110
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OFATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	AMEND THE COMPOSITION OF THE BOARD OF DIRECTORS AND CONSEQUENTLY ELECT THE FULL AND SUBSTITUTE MEMBERS OF THE MENTIONED BOARD BY MULTIPLE VOTE, AS REQUESTED BY THE SHAREHOLDER SOUTHERN ELECTRIC BRASIL PARTICIPACOES LTD., AND AS A RESULT OF THE RESIGNATION OF A DIRECTOR	Management	Unknown	None
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: COMPANHIA SIDERURGICA DE TUBARAO MEETING DATE: 04/14/2005
TICKER: --     SECURITY ID: P8738N104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT PREFERRED SHAREHOLDERS CAN VOTE ON ITEM E . THANK YOU.	N/A	N/A	N/A
2	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
3	APPROVE THE FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	N/A	N/A	N/A
4	APPROVE THE YE RESULTS OF 2004 AND DISTRIBUTE DIVIDENDS	N/A	N/A	N/A
5	ELECT A MEMBER OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
6	APPROVE TO SET THE DIRECTORS GLOBAL REMUNERATION	N/A	N/A	N/A
7	APPROVE TO DELIBERATE OF THE FINANCE COMMITTEE	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: COMPANHIA SIDERURGICA NACIONAL MEETING DATE: 04/29/2005
TICKER: SID     SECURITY ID: 20440W105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	CHANGE THE COMPANY BY-LAWS IN ORDER TO CREATE THE AUDIT COMMITTEE.	Management	For	For
2	EXAMINATION, DISCUSSION AND APPROVAL OF THE ACCOUNTS RENDERED BY THE COMPANY S OFFICERS.	Management	For	For
3	RATIFICATION OF THE DISTRIBUTION OF INTERMEDIARY DIVIDENDS IN THE AMOUNT OF R$35,000,000.00 APPROVED BY THE BOARD OF DIRECTORS ON JUNE 14, 2004.	Management	For	For
4	DELIBERATION ON THE MANAGEMENT PROPOSAL REGARDING THE ALLOCATION OF THE NET PROFIT OF THE FISCAL YEAR OF 2004.	Management	For	For
5	ELECTION OF THE MEMBERS OF THE BOARD OF DIRECTORS.	Management	For	For
6	APPROVAL OF THE GLOBAL REMUNERATION TO THE MANAGEMENT IN THE AMOUNT OF UP TO R$30,000,000.00.	Management	For	For

ISSUER NAME: COMPANHIA VALE DO RIO DOCE MEETING DATE: 08/18/2004
TICKER: RIOPR     SECURITY ID: 204412100
TICKER: RIO     SECURITY ID: 204412209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	DELIBERATION OF THE PROPOSAL FOR A FORWARD SPLIT OF SHARES ISSUED BY THE COMPANY, SO THAT EACH COMMON OR PREFERRED SHARE ISSUED BY THE COMPANY WILL BE REPRESENTED BY THREE SHARES OF THE SAME TYPE AND CLASS, AND THE CONSEQUENT ALTERATIONS OF ARTICLES 5 AND 6 OF THE COMPANY BYLAWS.	Management	For	For
2	ELECTION, BY HOLDERS OF PREFERRED CLASS A SHARES, OF ONE MEMBER AND HIS ALTERNATE FOR THE COMPANY S FISCAL COUNCIL, DUE TO THE RESIGNATION OF THE FISCAL COUNCIL MEMBERS ELECTED BY THIS CLASS OF SHARES, AS WELL AS THE ELECTION BY THE COMMON SHAREHOLDERS OF ONE ALTERNATE MEMBER, DUE TO THE RESIGNATION OF ONE ALTERNATE MEMBER ELECTED BY THE COMMON SHAREHOLDERS.	Management	For	For
3	RECTIFICATION OF THE TOTAL ANNUAL COMPENSATION OF THE MEMBERS OF THE COMPANY S MANAGEMENT FIXED BY THE ORDINARY GENERAL SHAREHOLDERS MEETING HELD ON APRIL 28, 2004.	Management	For	For

ISSUER NAME: COMPANHIA VALE DO RIO DOCE MEETING DATE: 04/27/2005
TICKER: RIOPR     SECURITY ID: 204412100
TICKER: RIO     SECURITY ID: 204412209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPRECIATION OF THE MANAGEMENT S REPORT AND ANALYSIS, DISCUSSION AND VOTE ON THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004.	Management	For	For
2	PROPOSAL FOR THE DESTINATION OF THE PROFITS OF THE SAID FISCAL YEAR AND APPROVAL OF THE INVESTMENT BUDGET OF THE COMPANY.	Management	For	For
3	ELECTION OF THE MEMBERS OF THE BOARD OF DIRECTORS.	Management	For	For
4	ELECTION OF THE MEMBERS OF THE FISCAL COUNCIL.	Management	For	For
5	ESTABLISHMENT OF THE REMUNERATION OF THE SENIOR MANAGEMENT AND FISCAL COUNCIL MEMBERS.	Management	For	For
6	PROPOSAL FOR THE INCREASE OF CAPITAL, VIA CAPITALIZATION OF RESERVES, WITHOUT ISSUE OF SHARES, AND WITH THE CONSEQUENT ALTERATION OF THE MAIN SECTION OF ARTICLE 5 OF THE COMPANY BYLAWS.	Management	For	For
7	NEW VERSION OF CVRD S DIVIDEND POLICY.	Management	For	For

ISSUER NAME: COMPANIA DE MINAS BUENAVENTURA S.A. MEETING DATE: 03/31/2005
TICKER: BVN     SECURITY ID: 204448104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ANNUAL REPORT, BALANCE SHEET, PROFIT AND LOSS STATEMENT AND OTHER FINANCIAL STATEMENTS OF THE YEAR ENDED DECEMBER 31, 2004.	Management	For	For
2	DELEGATION TO THE AUDIT COMMITTEE OF THE DESIGNATION OF THE EXTERNAL AUDITORS FOR THE YEAR 2005.	Management	For	For
3	DISTRIBUTION OF DIVIDENDS.	Management	For	For
4	AMENDMENT TO THE ARTICLE 33 OF THE COMPANY S BY-LAWS IN ORDER TO HOLD VIRTUAL MEETINGS.	Management	For	For
5	ELECTION OF THE BOARD OF DIRECTORS FOR THE PERIOD 2005-2007.	Management	For	For

ISSUER NAME: CONSORCIO ARA SA DE CV MEETING DATE: 04/21/2005
TICKER: --     SECURITY ID: P3084R106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE ANNUAL REPORT OF THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 172, COMMERCIAL COMPANIES LAW, FOR THE FYE 31 DEC 2004, INCLUDING THE FINANCIAL STATEMENTS FOR THE FY 2004, THE REPORT OF THE COMMISSIONER AND THE REPORT OF THE MAIN SUBSIDIARIES OF THE COMPANY	Management	Unknown	For
2	APPROVE HOW TO APPLY THE EARNINGS	Management	Unknown	For
3	APPROVE THE ANNUAL REPORT OF THE AUDITORS COMMITTEE ABOUT RESPECTIVE ACTIVITIES PURSUANT TO ARTICLE 14.3. V.A OF THE SECURITIES MARKET LAW AND CLAUSE 19 OF THE COMPANY BYLAWS	Management	Unknown	For
4	APPOINT THE MEMBERS TO COMPOSE THE BOARD OF DIRECTORS, INCLUDING INDEPENDENT DIRECTORS, SECRETARY, SECOND SECRETARY, COMMISSIONER, AS WELL AS RESPECTIVE ALTERNATES	Management	Unknown	For
5	APPROVE THE AMOUNT TO PURCHASE COMPANY SHARES PURSUANT TO ARTICLE 14. 3. I OFTHE SECURITIES MARKET LAW	Management	Unknown	For
6	APPOINT SPECIAL DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS	Management	Unknown	For

ISSUER NAME: CORPBANCA MEETING DATE: 02/21/2005
TICKER: BCA     SECURITY ID: 21987A209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ANNUAL REPORT, FINANCIAL STATEMENTS AND FOOTNOTES AND THE EXTERNAL AUDITORS OPINION CORRESPONDING TO THE EXERCISE BETWEEN JANUARY 1ST AND DECEMBER 31ST OF 2004.	Management	Unknown	For
2	DESIGNATION OF EXTERNAL AUDITORS FOR THE EXERCISE OF YEAR 2005.	Management	Unknown	For
3	DETERMINATION AND APPROVAL OF THE REMUNERATIONS OF THE BOARD OF DIRECTORS AND ITS PAYMENT FORM.	Management	Unknown	For
4	INFORMATION ON OPERATIONS REGARDING ARTICLE 44 OF THE LAW NO 18.046.	Management	Unknown	Abstain
5	DEFINITION OF THE USE OF THE NET INCOME OBTAINED IN THE ANNUAL EXERCISE CONCLUDED ON DECEMBER 31ST OF 2004 AND SPECIALLY TO PRONOUNCE ON THE IMMEDIATE DISTRIBUTION OF CLP$25,383,634,798 WHICH REPRESENT 50% OF THE NET INCOME, THAT ALTOGETHER REACHED TO CLP$50,767,269,596. THE SURPLUS WILL BE DESTINED TO THE RESERVE FUND OF RETAINED NET INCOME TO BE DISTRIBUTED.	Management	Unknown	For
6	DEFINE THE DIVIDEND POLICY.	Management	Unknown	For
7	DEFINE FACULTIES, REMUNERATION AND BUDGET OF THE DIRECTORS COMMITTEE AND TO INFORM ON ITS ACTIVITIES.	Management	Unknown	For
8	TO KNOW THE REPORT OF THE AUDIT COMMITTEE.	Management	Unknown	For

ISSUER NAME: CORPORACION GEO SA DE CV GEO MEETING DATE: 04/22/2005
TICKER: --     SECURITY ID: P3142C117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	AMEND THE COMPANY BY-LAWS IN ORDER TO COMPLY WITH THE BEST CORPORATIVE PRACTICES CODE	Management	Unknown	For
2	APPOINT THE DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS OF THE EXTRAORDINARY MEETING OF THE SHAREHOLDERS	Management	Unknown	For
3	APPROVE THE MINUTES OF THE MEETING	Management	Unknown	For

ISSUER NAME: CORPORACION GEO SA DE CV GEO MEETING DATE: 04/22/2005
TICKER: --     SECURITY ID: P3142C117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE ANNUAL REPORT OF THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 172 OF COMMERCIAL COMPANIES LAW FOR THE FY BETWEEN 01 JAN 2004 AND 31 DEC 2004 INCLUDING THE REPORT OF THE AUDITORS COMMITTEE	Management	Unknown	For
2	APPROVE THE FINANCIAL STATEMENTS OF THE COMPANY AS ON 31 DEC 2004; REPORT OF THE COMMISSIONER	Management	Unknown	For
3	APPROVE TO CONFIRM THE ACTIVITIES PERFORMED BY THE BOARD OF DIRECTORS DURING THE FYE 31 DEC 2004	Management	Unknown	For
4	APPROVE THE APPLICATION OF THE EARNINGS FOR THE FYE 31 DEC 2004	Management	Unknown	For
5	APPROVE THE AMOUNT FOR THE FUND TO PURCHASE THE COMPANY SHARES, REPRESENTING THE CAPITAL STOCK, DIVIDENDS DISTRIBUTION AND THE MAXIMUM AMOUNT OF COMPANY SHARES THAT MAY BE PURCHASED	Management	Unknown	For
6	APPOINT THE MEMBERS OF THE BOARD OF DIRECTORS, SECRETARY AND THE COMMISSIONER	Management	Unknown	For
7	APPROVE TO SET THE ALLOWANCES FOR THE MEMBERS OF THE BOARD OF DIRECTORS, SECRETARY AND THE COMMISSIONER	Management	Unknown	For
8	APPOINT THE DELEGATES TO LEGALIZE THE RESOLUTIONS OF THE MEETING	Management	Unknown	For
9	APPROVE THE MINUTES OF THE MEETING	Management	Unknown	For

ISSUER NAME: DIAGNOSTICOS DA AMERICA SA MEETING DATE: 04/28/2005
TICKER: --     SECURITY ID: P3589C109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND APPROVE THE BOARD OF DIRECTORS REPORT, THE COMPANY S CONSOLIDATED FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	Management	Unknown	For
3	APPROVE THE DESTINATION OF THE YE RESULTS	Management	Unknown	For
4	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	Management	Unknown	For
5	APPROVE TO SET THE GLOBAL REMUNERATION OF THE DIRECTORS	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: ELETROPAULO ELETRICIDADE METROPOLITANA DE SAO PAULO SA MEETING DATE: 04/20/2005
TICKER: --     SECURITY ID: P36476110
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU	N/A	N/A	N/A
2	APPROVE THE FINANCE STATEMENTS, THE DISTRIBUTION OF THE FY S NET PROFITS AND THE BOARD OF DIRECTORS ANNUAL REPORT AND RELATING TO FYE 31 DEC 2004	N/A	N/A	N/A
3	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
4	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	N/A	N/A	N/A
5	APPROVE THE DIRECTORS GLOBAL ANNUAL REMUNERATION	N/A	N/A	N/A

ISSUER NAME: EMBRAER EMPRESA BRASILEIRA DE AERONAUTICA MEETING DATE: 04/18/2005
TICKER: --     SECURITY ID: P3700E109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OFATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	APPROVE THE CAPITALIZATION OF THE INVESTMENT RESERVE AND WORKING CAPITAL CREATED IN 2003, WITH NO ISSUANCE OF NEW SHARES AND FOR THE BENEFIT OF ALL SHAREHOLDERS; AMEND THE MAIN STATEMENT OF ARTICLE 5 OF THE BYLAWS, DUE TO THE CAPITALIZATION OF THE INVESTMENT RESERVE AND WORKING CAPITAL CREATED IN 2003; AND APPROVE THE NEW CORPORATE CAPITAL	Management	Unknown	For
3	AMEND THE COMPANY BYLAWS - ARTICLE 12: TO INCLUDE A NEW ITEM II AND TO RENUMBER THE REMAINING ITEMS, ARTICLE 15: THE SOLE PARAGRAPH, ARTICLE 19: THE HEADING AND THE PARAGRAPH 3, ARTICLE 20: ITEM XV AND TO INCLUDE AN ITEM XXVIII; AND ARTICLE 25: ITEM V	Management	Unknown	For
4	APPROVE TO CONSOLIDATE THE COMPANY BYLAWS	Management	Unknown	Abstain
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: EMPRESA NACIONAL DE ELECTRICIDAD S.A MEETING DATE: 04/08/2005
TICKER: EOC     SECURITY ID: 29244T101
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ANNUAL REPORT, FINANCIAL STATEMENTS, AND REPORT OF THE INDEPENDENT AUDITORS AND INSPECTORS OF ACCOUNTS.	Management	For	For
2	APPROVAL OF THE DISTRIBUTION OF PROFITS AND DIVIDENDS.	Management	For	For
3	APPROVAL OF THE INVESTING AND FINANCIAL POLICIES PROPOSED BY THE BOARD.	Management	For	For
4	APPROVAL OF THE DIRECTORS REMUNERATION AS PROPOSED AT THE MEETING.	Management	For	For
5	APPROVAL OF THE REMUNERATION OF THE COMMITTEE OF DIRECTORS AND DETERMINATION OF ITS COSTS.	Management	For	For
6	APPROVAL OF THE APPOINTMENT OF EXTERNAL AUDITORS.	Management	For	For
7	APPROVAL OF THE ELECTION OF TWO ACCOUNT INSPECTORS AND TWO ALTERNATES AS PROPOSED AT THE MEETING.	Management	For	For
8	APPROVAL OF REMUNERATION OF ACCOUNT INSPECTORS AS PROPOSED AT THE MEETING.	Management	For	For
9	APPROVAL TO MODIFY CLAUSE 1 OF THE BYLAWS THAT, FOR STRICTLY PUBLICITY REASONS, EITHER ENDESA OR ENDESA CHILE MAY BE USED AS THE COMPANY S SHORT NAME, AS SET FORTH IN THE ADDITIONAL INFORMATION PROVIDED BY THE COMPANY.	Management	For	For

ISSUER NAME: ENERSIS S.A. MEETING DATE: 04/08/2005
TICKER: ENI     SECURITY ID: 29274F104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ANUAL REPORT, BALANCE SHEET, FINANCIAL STATEMENTS AND REPORT OF THE EXTERNAL AUDITORS AND INSPECTORS OF THE ACCOUNTS CORRESPONDING TO THE YEAR ENDED DECEMBER 31, 2004.	Management	For	For
2	APPROVAL OF THE DISTRIBUTION OF PROFITS AND DIVIDENDS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004.	Management	For	For
3	APPOINTMENT OF INDEPENDENT EXTERNAL AUDITORS.	Management	For	For
4	APPROVAL OF THE INVESTMENT AND FINANCING POLICY.	Management	For	For

ISSUER NAME: FOMENTO ECONOMICO MEXICANO, S.A. DE MEETING DATE: 07/27/2004
TICKER: FMX     SECURITY ID: 344419106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	SUBJECT TO THE APPROVAL OF, AND THE CONDITIONS IMPOSED BY THE MEXICAN SECURITIES COMMISSION AND IN ACCORDANCE WITH ARTICLE 81 OF THE MEXICAN SECURITIES MARKET LAW, TO INCREASE THE VARIABLE PORTION OF THE CAPITAL STOCK OF THE COMPANY, BY THE ISSUANCE OF COMMON SERIES B SHARES AND LIMITED VOTING SERIES D SHARES, AND TO APPROVE THEIR INTEGRATION INTO B UNITS AND BD UNITS.	Management	For	For
2	EXPRESS WAIVER BY THE SHAREHOLDERS TO THEIR PRE-EMPTIVE RIGHTS GRANTED BY ARTICLE 132 OF THE MEXICAN GENERAL CORPORATIONS LAW, TO SUBSCRIBE THE SHARES AND UNITS ISSUED IN ACCORDANCE WITH ITEM I OF THE AGENDA.	Management	For	For
3	APPROVE THE PUBLIC OFFER IN THE SECURITIES MARKETS OF MEXICO, UNITED STATES OF AMERICA AND OTHER MARKETS.	Management	For	For
4	TO AUTHORIZE THE DIRECTORS (1) TO DETERMINE THE SUBSCRIPTION PRICE PER SHARE, AND PER UNIT DURING THE PUBLIC OFFER; (2) TO DETERMINE THE AMOUNT TO BE ALLOCATED AS CAPITAL STOCK INCREASE AND AMOUNT AS SUBSCRIPTION PREMIUM PER SHARE AND PER UNIT, AND (3) TO DETERMINE THE MANNER, TERM AND CONDITIONS FOR THE CAPITAL INCREASE AND THE PUBLIC OFFERING OF THE UNITS.1	Management	For	For
5	APPROVE THE CONDITIONS PRECEDENT FOR THE EFFECTIVENESS OF THE RESOLUTIONS ADOPTED DURING THE MEETING.	Management	For	For
6	ISSUANCE OF POWERS OF ATTORNEY TO EXECUTE THE RESOLUTIONS ADOPTED DURING THE MEETING.	Management	For	For
7	APPOINTMENT OF DELEGATES FOR THE SHAREHOLDERS MEETING.	Management	For	For
8	APPROVAL OF THE MINUTES OF THE SHAREHOLDERS MEETING.	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: FOMENTO ECONOMICO MEXICANO, S.A. DE MEETING DATE: 03/10/2005
TICKER: FMX     SECURITY ID: 344419106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	REPORT OF THE BOARD OF DIRECTORS; PRESENTATION OF THE FINANCIAL STATEMENTS OF FOMENTO ECONOMICO MEXICANO, S.A. DE C.V., FOR THE 2004 FISCAL YEAR, AND THE REPORT OF THE EXAMINER PURSUANT TO ARTICLE 172 OF THE GENERAL LAW OF COMMERCIAL COMPANIES AND THE APPLICABLE PROVISIONS OF THE SECURITIES MARKET LAW.	Management	Unknown	For
2	APPLICATION OF THE RESULTS FOR THE 2004 FISCAL YEAR, INCLUDING THE PAYMENT OF A CASH DIVIDEND, IN MEXICAN PESOS.	Management	Unknown	For
3	PROPOSAL TO DETERMINE THE MAXIMUM AMOUNT TO BE USED IN THE SHARE REPURCHASE PROGRAM.	Management	Unknown	For
4	ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS AND EXAMINERS, AND RESOLUTION WITH RESPECT TO THEIR REMUNERATION.	Management	Unknown	For
5	APPOINTMENT OF COMMITTEES.	Management	Unknown	For
6	APPOINTMENT OF DELEGATES FOR THE SHAREHOLDERS MEETING.	Management	Unknown	For
7	MINUTES OF THE SHAREHOLDERS MEETING.	Management	Unknown	For

ISSUER NAME: GERDAU SA COSG MEETING DATE: 04/28/2005
TICKER: --     SECURITY ID: P2867P105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS A MIX MEETING. THANK YOU.	N/A	N/A	N/A
2	PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING 230818 DUE TO CHANGE IN THE NUMBER OF RESOLUTIONS AND MEETING TYPE. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDED AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.	N/A	N/A	N/A
3	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
4	APPROVE THE MODIFICATION OF THE LIMITS SET IN THE BYLAWS FOR THE ISSUANCE OF NEW SHARES, BY THE DECISION OF THE BOARD OF DIRECTORS, TO 400,000,000 COMMON SHARES AND 800,000,000 PREFERRED SHARES	Management	Unknown	For
5	APPROVE THE NEW WORDING FOR THE MAIN PART OF THE ARTICLE 4 OF THE BYLAWS CONCERNING THE CORPORATE CAPITAL, TO BE IN ACCORDANCE WITH THE INCREASE IN CAPITAL THAT IS THE SUBJECT OF THE BOARD OF DIRECTORS DECISION MADE AT THEIR 31 MAR 2005 MEETING	Management	Unknown	For
6	APPROVE THE NEW WORDING FOR ARTICLE 13 OF THE BYLAWS CONCERNING THE ABILITIESAND FUNCTIONING OF THE FINANCE COMMITTEE	Management	Unknown	For
7	APPROVE TO CONSOLIDATE THE BYLAWS IN LIGHT OF THE AMENDMENTS MADE PREVIOUSLY	Management	Unknown	For
8	AMEND ITEM 5.1 OF THE PLAN GRANTING THE OPTION TO BUY SHARES, CALLED THE LONG-TERM INCENTIVE PROGRAM, WHICH WAS APPROVED AT THE SGM OF 30 APR 2003, REGARDING THE SHARES INCLUDED IN THE PROGRAM, AND ELIMINATING THE ITEM 6.1.D., WHICH DEALS WITH THE CONDITIONS FOR ACQUIRING THE RIGHT TO EXERCISE THAT OPTION, CONSEQUENTLY ITEM 6.1.E. WOULD BECOME ITEM 6.1.D.	Management	Unknown	Abstain
9	APPROVE TO RE-RATIFY THE RELATION OF THE PROPERTY THAT ARE IN THE ATTACHED 2 OF THE EGM REALIZED IN 28 NOV 2003	Management	Unknown	For
10	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND THE FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	Management	Unknown	For
11	APPROVE TO DELIBERATE THE DISTRIBUTION OF THE FY S NET PROFITS AND THE DISTRIBUTION DIVIDENDS	Management	Unknown	For
12	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND APPROVE TO SET THE DIRECTORS REMUNERATION	Management	Unknown	For
13	ELECT THE MEMBERS OF THE FINANCE COMMITTEE AND APPROVE TO SET REMUNERATION	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GRUMA S A DE C V MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P4948K121
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE OR AMEND THE REPORT PREPARED BY THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 172, COMMERCIAL COMPANIES LAW, FOR THE FY BETWEEN 01 JAN AND 31 DEC 2004 REGARDING THE OPERATIONS OF GRUMA S.A. DE C.V., READING THE COMMISSIONER S REPORT	Management	Unknown	For
2	RECEIVE THE ANNUAL REPORT PREPARED BY THE AUDITORS COMMITTEE ABOUT ITS ACTIVITIES PURSUANT TO ARTICLE 14.3 OF THE SECURITIES MARKET LAW AND ARTICLE 16 OF THE COMPANY BYLAWS	Management	Unknown	For
3	APPROVE THE APPLICATION OF THE EARNINGS FOR THE FY PREVIOUSLY MENTIONED, INCLUDING, WHERE APPROPRIATE THE PROCEDURE FOR PAYING DIVIDENDS, TO BE PROVIDED BY THE MEETING	Management	Unknown	For
4	APPROVE THE TOTAL MAXIMUM AMOUNT OF RESOURCES TO PURCHASE COMPANY SHARES AND THE REPORT ABOUT THE TRANSACTIONS PERFORMED WITH COMPANY SHARES DURING THE FY 2004	Management	Unknown	For
5	ELECT THE MEMBERS TO COMPOSE THE BOARD OF DIRECTORS, COMMISSIONER AND RESPECTIVE ALTERNATES AND SET THEIR ALLOWANCES	Management	Unknown	For
6	APPOINT THE MEMBERS TO COMPOSE THE AUDITORS COMMITTEE AND SET THEIR ALLOWANCES	Management	Unknown	For
7	APPOINT SPECIAL DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For
8	APPROVE THE MINUTES OF THE MEETING	Management	Unknown	For

ISSUER NAME: GRUPO AEROPORTUARIO DEL SURESTE SA D MEETING DATE: 02/07/2005
TICKER: ASR     SECURITY ID: 40051E202
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF FERNANDO CHICO PARDO S REQUEST TO ACQUIRE 25.5% OF THE EQUITY OF INVERSIONES Y TECNICAS AEROPORTUARIAS, S.A. DE C.V. (ITA), ASUR S STRATEGIC PARTNER, CURRENTLY OWNED BY NACIONAL FINANCIERA (NAFIN), THEREBY SUBSTITUTING NAFIN AS THE MEXICAN PARTNER IN ITA UNDER THE TERMS OF THE PARTICIPATION AGREEMENT AMONG ITA, THE MEXICAN GOVERNMENT AND ASUR.1	Management	Unknown	Abstain
2	APPOINTMENT OF DELEGATES IN ORDER TO FORMALIZE THE RESOLUTIONS ADOPTED IN THIS GENERAL SHAREHOLDERS MEETING.	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GRUPO AEROPORTUARIO DEL SURESTE SA D MEETING DATE: 04/28/2005
TICKER: ASR     SECURITY ID: 40051E202
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE REPORT OF THE BOARD OF DIRECTORS IN TERMS OF ARTICLE 172 OF THE GENERAL CORPORATIONS LAW.	Management	Unknown	For
2	APPROVAL OF THE ANNUAL REPORT OF THE AUDIT COMMITTEE REGARDING ITS ACTIVITIES AS PROVIDED BY ARTICLE 14 BIS 3 OF THE SECURITIES MARKET LAW ( LEY DEL MERCADO DE VALORES ).1	Management	Unknown	For
3	PRESENTATION AND APPROVAL OF THE REPORT OF THE STATUTORY AUDITOR.	Management	Unknown	For
4	PRESENTATION AND APPROVAL OF THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004.	Management	Unknown	For
5	PRESENTATION OF THE REPORT OF THE NOMINATIONS AND COMPENSATION COMMITTEE.	Management	Unknown	For
6	PROPOSAL REGARDING THE APPLICATION OF THE COMPANY S RESULTS FOR THE YEAR ENDED DECEMBER 31, 2004.	Management	Unknown	For
7	PROPOSAL OF THE BOARD OF DIRECTORS TO PAY A NET ORDINARY CASH DIVIDEND.	Management	Unknown	For
8	APPOINTMENT AND/OR RATIFICATION OF THE PROPRIETARY AND ALTERNATE MEMBERS OF THE BOARD OF DIRECTORS AND STATUTORY AUDITORS.	Management	Unknown	For
9	APPOINTMENT OF AN AUDIT COMMITTEE FINANCIAL EXPERT.	Management	Unknown	For
10	RESOLUTIONS REGARDING THE REMUNERATION TO BE PAID TO THE PLENARY AND ALTERNATE MEMBERS OF THE BOARD.	Management	Unknown	For
11	APPOINTMENT OF DELEGATES IN ORDER TO FORMALIZE THE RESOLUTIONS ADOPTED IN THIS GENERAL ANNUAL ORDINARY SHAREHOLDERS MEETING.	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GRUPO BIMBO SA DE CV BIMBO, MEXICO MEETING DATE: 11/08/2004
TICKER: --     SECURITY ID: P49521126
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE PAYMENT OF A CASH DIVIDEND IN THE AMOUNT OF MXN 0.60 PER SHARE	N/A	N/A	N/A
2	APPROVE THE DESIGNATION OF THE MEETING DELEGATES	N/A	N/A	N/A
3	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU.	N/A	N/A	N/A
4	PLEASE NOTE THE REVISED MEETING DATE FROM 11 NOV 2004 TO 08 NOV 2004. THANK YOU	N/A	N/A	N/A

ISSUER NAME: GRUPO BIMBO SA DE CV BIMBO, MEXICO MEETING DATE: 04/08/2005
TICKER: --     SECURITY ID: P49521126
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING 225315 DUE TO RECEIPT OF RECORD DATE. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDED AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.	N/A	N/A	N/A
2	APPROVE TO AMEND THE BOARD OF DIRECTORS REPORT, PURSUANT TO THE ARTICLE 172,COMMERCIAL COMPANIES LAW, INCLUDING THE FINANCIAL STATEMENTS, THE AUDITED CONSOLIDATED WITH SUBSIDIARIES, FOR THE FYE 31 DEC 2004, PRIOR READING THE REPORTS PREPARED BY THE EXTERNAL AUDITORS, THE COMMISSIONER AND THE COMPANY AUDIT COMMITTEE	Management	Unknown	For
3	APPROVE THE APPLICATION OF THE EARNINGS FOR THE FYE 31 DEC 2004	Management	Unknown	For
4	APPROVE TO PAY A CASH DIVIDEND AT A RATE OF 0.28 PER EACH CAPITAL STOCK REPRESENTATIVE OUTSTANDING SHARE	Management	Unknown	For
5	APPOINT THE BOARD OF DIRECTORS MEMBERS AND THE COMPANY COMMISSIONER AND APPROVE TO SET THEIR REMUNERATION	Management	Unknown	For
6	APPOINT THE MEMBERS OF THE AUDITORS COMMITTEE, THE ASSESSMENT AND COMPENSATION COMMITTEE, THE FINANCE AND PLANNING COMMITTEE AND APPROVE TO SET THEIR ALLOWANCES	Management	Unknown	For
7	APPROVE THE REPORT ABOUT THE PURCHASE OF THE COMPANY SHARES, AS WELL AS TO SET THE MAXIMUM AMOUNT THAT THE COMPANY MAY USE TO PURCHASE THE COMPANY SHARES, PURSUANT TO THE ARTICLE 14-3 OF THE SECURITIES MARKET LAW	Management	Unknown	For
8	APPOINT THE SPECIAL DELEGATES	Management	Unknown	For

ISSUER NAME: GRUPO FINANCIERO BANORTE SA DE CV GFNORTE MEETING DATE: 04/28/2005
TICKER: --     SECURITY ID: P49501201
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE THE REPORT OF BOARD OF DIRECTORS AS PER ARTICLE 172 COMMERCIAL COMPANIES LAW FOR THE FYE 31 DEC 2004 AND READ THE REPORT OF THE COMMISSIONERS AND THE AUDITORS COMMITTEE	Management	Unknown	For
2	APPROVE TO APPLY THE EARNINGS	Management	Unknown	For
3	APPOINT THE MEMBERS FOR THE BOARD OF DIRECTORS AND COMMISSIONERS	Management	Unknown	For
4	APPROVE TO SET THE ALLOWANCES FOR THE DIRECTORS AND COMMISSIONERS	Management	Unknown	For
5	APPROVE THE REPORT OF THE BOARD OF DIRECTORS CONCERNING THE TRANSACTIONS EXECUTED WITH COMPANY SHARES DURING 2004 AND SET THE MAXIMUM AMOUNT OF RESOURCES TO PURCHASE COMPANY SHARES DURING FY 2005	Management	Unknown	For
6	APPOINT DELEGATE OR DELEGATES TO LEGALIZE AND EXECUTE THE RESOLUTIONS ADOPTEDBY THE MEETING	Management	Unknown	For
7	APPROVE THE MINUTES OF THE MEETING	Management	Unknown	For

ISSUER NAME: GRUPO FINANCIERO GALICIA S.A. MEETING DATE: 04/28/2005
TICKER: GGAL     SECURITY ID: 399909100
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPOINTMENT OF TWO SHAREHOLDERS TO SIGN THE MINUTES	Management	Unknown	For
2	EXAMINATION OF THE BALANCE SHEET, INCOME STATEMENT AND OTHER DOCUMENTS	Management	Unknown	For
3	APPROVAL OF THE PERFORMANCE OF THE BOARD OF DIRECTORS AND SUPERVISORY SYNDICS COMMITTEE	Management	Unknown	For
4	COMPENSATION OF THE SYNDICS COMMITTEE	Management	Unknown	For
5	DETERMINATION OF THE NUMBER OF REGULAR AND ALTERNATE DIRECTORS AND THEIR ELECTION ACCORDING TO STATUTORY TERMS	Management	Unknown	For
6	DETERMINATION OF THE INCENTIVE COMPENSATION PROVIDED BY ARTICLE 39, SUB-SECTION 2 OF THE COMPANY S BY-LAWS	Management	Unknown	For
7	ELECTION OF THREE REGULAR SYNDICS AND THREE ALTERNATE SYNDICS FOR A ONE-YEAR TERM OF OFFICE	Management	Unknown	For
8	EXAMINATION OF THE BALANCE SHEET, INCOME STATEMENT, OTHER DOCUMENTS AS SET FORTH IN ARTICLE 234	Management	Unknown	For
9	APPROVAL OF THE PERFORMANCE OF THE BOARD OF DIRECTORS AND THE SUPERVISORY SYNDICS COMMITTEE	Management	Unknown	For
10	COMPENSATION OF THE SUPERVISORY SYNDICS COMMITTEE	Management	Unknown	For
11	REVIEW OF THE COMPENSATION OF THE BOARD OF DIRECTORS	Management	Unknown	For
12	TREATMENT TO BE GIVEN TO THE FISCAL YEAR S RESULTS	Management	Unknown	For
13	DETERMINATION OF THE ANNUAL BUDGET FOR THE AUDIT COMMITTEE	Management	Unknown	For
14	DETERMINATION OF THE NUMBER OF DIRECTORS AND ALTERNATE DIRECTORS AND IF APPROPRIATE, ELECTION THEREOF OF THE TERM ESTABLISHED BY THE COMPANY S BYLAWS	Management	Unknown	For
15	ELECTGION OF THREE REGULAR SYNDICS AND THREE ALTERNATE SYNDICS FOR ONE-YEAR TERM OF OFFICE	Management	Unknown	For
16	COMPENSATION OF THE INDEPENDENT ACCOUNTANT CERTIFYING THE FINANCIAL STATEMENTS FOR FISCAL YEAR 2004	Management	Unknown	For
17	APPOINTMENT OF THE INDEPENDENT ACCOUNTANT AND ALTERNATE INDEPENDENT ACCOUNTANT TO CERTIFY THE FINANCIAL STATEMENTS FOR FISCAL YEAR 2005	Management	Unknown	For
18	AMENDMENT OF SECTION 15 OF THE COMPANY S BYLAWS IN ORDER TO ALLOW THE CELEBRATION OF BOARD OF DIRECTORS MEETINGS TO BE HELD BY VIDEOCONFERENCE OR SIMILAR TERMS	Management	Unknown	For

ISSUER NAME: GRUPO FINANCIERO INBURSA SA DE CV GFINBUR MEETING DATE: 04/13/2005
TICKER: --     SECURITY ID: P4950U165
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE FINANCIAL STATEMENTS PURSUANT TO ARTICLE 172, COMMERCIAL COMPANIES LAW, FOR THE COMPANY AND CONTROLLED COMPANIES, INCLUDING THE REPORT PREPARED BY THE BOARD OF DIRECTORS, THE REPORT OF THE COMMISSIONER AND THE REPORT OF THE AUDITORS COMMITTEE FOR THE FYE 31 DEC 2004 PURSUANT TO ARTICLE 30 OF THE COMPANY BYLAWS	Management	Unknown	For
2	APPROVE A PROPOSAL ON HOW TO APPLY THE EARNINGS	Management	Unknown	For
3	APPROVE A PROPOSAL FOR PAYING A DIVIDEND	Management	Unknown	For
4	APPOINT THE MEMBERS TO COMPOSE THE BOARD OF DIRECTORS, THE COMMISSIONERS, THESECRETARY AND THE SECOND SECRETARY	Management	Unknown	For
5	APPROVE THE REMUNERATION FOR THE MEMBERS THAT COMPOSE THE BOARD OF DIRECTORS,COMMISSIONERS, THE SECRETARY AND THE SECOND SECRETARY	Management	Unknown	For
6	APPROVE TO APPOINT AND CONFIRM THE CORPORATIVE PRACTICES COMMITTEE AND THE AUDITORS COMMITTEE	Management	Unknown	For
7	APPROVE THE ALLOWANCES FOR THE MEMBERS COMPOSING THE COMMITTEES	Management	Unknown	For
8	APPROVE THE ANNUAL REPORT CONCERNING PURCHASING COMPANY SHARES PURSUANT TO ARTICLE 14.3.I OF THE SECURITIES MARKET LAW AND SET THE MAXIMUM AMOUNT OF RESOURCES TO PURCHASE COMPANY SHARES FOR THE FY 2005	Management	Unknown	For
9	APPOINT DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For
10	AMEND THE COMPANY BYLAWS	Management	Unknown	Abstain
11	APPOINT DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For

ISSUER NAME: GRUPO FINANCIERO INBURSA SA DE CV GFINBUR MEETING DATE: 05/25/2005
TICKER: --     SECURITY ID: P4950U165
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN EGM. THANK YOU.	N/A	N/A	N/A
2	APPROVE TO TEMPORARILY CONVERT THE COMPANY SHARES INTO SHARES WITHOUT PAR VALUE	Management	Unknown	For
3	APPROVE TO SPLIT THE COMPANY, REMAINING THIS AS MERGER SPIN OFF COMPANY ANDPROVIDING AS OVERALL CONTRIBUTION A PART OF ITS ASSETS AND CAPITAL TO A NEW BUSINESS CORPORATION DUE TO THE SPLIT	Management	Unknown	For
4	APPROVE THE REGISTERING OF THE COMPANY SHARES IN THE NATIONAL STOCK EXCHANGE REGISTRY TO BE LISTED AND QUOTED IN THE MEXICAN STOCK EXCHANGE BOLSA MEXICANA DE VALORES, S.A. DE C.V.	Management	Unknown	For
5	AMEND THE COMPANY BYLAWS PARTIALLY	Management	Unknown	Abstain
6	APPOINT THE SPECIAL DELEGATES TO EXECUTE AND FORMALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For

ISSUER NAME: GRUPO MEXICO SA DE CV GMEXICO MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P49538112
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE THE PROPOSE SPLITTING OF 865,000,000 B SERIES SHARES, COMPLETELY PAID IN AND SUBSCRIBED, REPRESENTING THE CAPITAL STOCK, AT A RATE OF THREE (3) NEW SHARES PER SHARE PER EACH OUTSTANDING SHARE, IN ORDER THAT THE CAPITAL RESULTS REPRESENTED BY 2, 595, 000, 000 B SERIES SHARES , COMPLETELY PAID IN AND SUBSCRIBED1	Management	Unknown	For
2	AMEND CLAUSE 06 OF THE COMPANY BYLAWS TO REFLECT THE SPLIT PROVIDED IN RESOLUTION E.1	Management	Unknown	For
3	APPOINT DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTING BY THE MEETING	Management	Unknown	For
4	RECEIVE THE REPORT OF THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 172, COMMERCIAL COMPANIES LAW, CONCERNING THE PERFORMANCE OF THE COMPANY FOR THE FYE ON 31 DEC 2004; INCLUDING THE REPORT OF THE COMMISSIONER AND THE FINANCIAL STATEMENTS, INDIVIDUAL AND CONSOLIDATED OF THE COMPANY AND RESPECTIVE SUBSIDIARIES FOR THE SAME PERIOD AND THE FINANCIAL STATEMENTS OF THE MAIN SUBSIDIARIES OF THE COMPANY FOR THE SAME PERIOD	Management	Unknown	For
5	APPROVE THE REPORT OF THE ACTIVITIES OF THE AUDITORS COMMITTEE FOR THE FY 2004; WHICH THE COMMITTEE PRESENTS THROUGH THE BOARD OF DIRECTORS	Management	Unknown	For
6	APPROVE THE RESOLUTIONS ABOUT HOW TO APPLY THE EARNINGS FOR THE FYE 31 DEC 2004	Management	Unknown	For
7	APPROVE THE PROPOSE STARTING A NEW PROGRAM TO PURCHASE COMPANY SHARES AND THEMAXIMUM AMOUNT OF RESOURCES TO PURCHASE COMPANY SHARES FOR THE FY 2005	Management	Unknown	For
8	APPOINT THE MEMBERS TO COMPOSE THE BOARD OF DIRECTORS, EXECUTIVE COMMITTEE, AUDITORS COMMITTEE AND COMPENSATIONS COMMITTEE	Management	Unknown	For
9	APPROVE THE ALLOWANCES FOR THE MEMBERS OF THE BOARD OF DIRECTORS, FOR THE MEMBERS OF THE COMMITTEES, AND COMMISSIONERS	Management	Unknown	For
10	APPOINT DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For
11	PLEASE NOTE THAT THIS IS A MIX MEETING. THANK YOU.	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: GRUPO MODELO SA DE CV MEETING DATE: 04/18/2005
TICKER: --     SECURITY ID: P4833F104
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN AMENDMENT TO MEETING ID 225117 DUE TO CHANGE IN VOTING STATUS. ALL VOTES RECEIVED ON THE PREVIOUS MEETING WILL BE DISREGARDED AND YOU WILL NEED TO REINSTRUCT ON THIS MEETING NOTICE. THANK YOU.	N/A	N/A	N/A
2	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU.	N/A	N/A	N/A
3	APPROVE THE INFORMATION OF THE ADMINISTRATION BOARD INCLUDING THE AUDITOR S REPORT PRESENTATION AND APPROVE THE FINANCIAL STATEMENTS OF THE ENTITY AS OF 31 DEC 2004, INCLUDING THE COMMISAR S INFORM	N/A	N/A	N/A
4	APPROVE THE APPLICATION OF RETAINED EARNINGS INCLUDING THE PAYMENT OF A DIVIDEND OF MXN 3,414,347,613.60 OR MXN 1.05 PESOS PER SHARES AND FORMALIZE THE RESOLUTIONS OF THE MEETING	N/A	N/A	N/A
5	APPROVE THE COMPENSATION FOR THE MEMBERS OF THE BOARD, THE COMMISAR, AND OTHER RELATED OFFICIALS	N/A	N/A	N/A
6	APPROVE THE DESIGNATION AND/OR RATIFICATION OF THE MEMBERS OF THE BOARD INCLUDING OTHER OFFICIALS SUCH AS THE SECRETARY AND THE COMMISAR	N/A	N/A	N/A
7	APPROVE THE DESIGNATION AND/OR RATIFICATION OF THE EXECUTIVE COMMITTEE	N/A	N/A	N/A
8	APPROVE THE DESIGNATION OF THE DELEGATES TO FORMALIZE THE RESOLUTIONS OF THE MEETING	N/A	N/A	N/A

ISSUER NAME: INDUSTRIAS PENOLES SA DE CV PE&OLES MEETING DATE: 04/13/2005
TICKER: --     SECURITY ID: P55409141
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVE AND MODIFY, IF NECESSARY, OF THE REPORT OF FYE 31 DEC 2004, ACCORDING TO ARTICLE 172 OF THE GENERAL ACT OF COMMERCIAL COMPANIES, INCLUDING THE FINANCIAL DOCUMENTS, AND THE REPORTS OF BOTH THE COMMISSIONERS AND THE AUDITING COMMITTEE	Management	Unknown	For
2	APPROVE THE ALLOCATION OF PROFITS	Management	Unknown	For
3	ELECT AND APPROVE THE REMUNERATION OF THE DIRECTORS AND DESIGNATE THE MEMBERS OF THE EXECUTIVE OFFICER COMMITTEE	Management	Unknown	For
4	ELECT AND APPROVE THE REMUNERATION OF THE SUPERVISORY BOARD	Management	Unknown	For
5	APPROVE TO DESIGNATE THE INSPECTOR OR THE SHAREHOLDER REPRESENTATIVE S OF MINUTES OF MEETING	Management	Unknown	For

ISSUER NAME: ITAUSA INVESTIMENTOS ITAU SA MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P58711105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE PREFERRED SHAREHOLDLERS CAN VOTE ONLY ON RESOLUTION 4. THANK YOU.	N/A	N/A	N/A
2	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OFATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
3	APPROVE THE BOARD OF DIRECTORS ANNUAL REPORT, THE FINANCIAL STATEMENTS, EXTERNAL AUDITORS AND OF THE FINANCE COMMITTEE AND DOCUMENTS OPINION REPORT RELATING TO FYE 31 DEC 2004	N/A	N/A	N/A
4	APPROVE TO DISTRIBUTE THE FY NET PROFITS	N/A	N/A	N/A
5	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
6	ELECT THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
7	APPROVE TO SET THE DIRECTORS, BOARD OF DIRECTORS AND FINANCE COMMITTEE GLOBALREMUNERATION	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: NATURA COSMETICOS SA, SAO PAULO MEETING DATE: 03/29/2005
TICKER: --     SECURITY ID: P7088C106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE THE ACCOUNTS OF THE DIRECTORS AND APPROVE TO EXAMINE, DISCUSS AND VOTE FINANCIAL STATEMENTS, RELATING TO FYE 31 DEC 2004	Management	Unknown	For
2	APPROVE THE ALLOCATION OF NET PROFIT FOR THE FY AND RATIFY THE ANTICIPATED PAYMENT OF DIVIDENDS AND INTEREST ON NET EQUITY, INTERMEDIARY AND COMPLEMENTARY	Management	Unknown	For
3	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS	Management	Unknown	For
4	APPROVE TO SET THE DIRECTORS GLOBAL REMUNERATION	Management	Unknown	For
5	APPROVE TO DELIBERATE ON THE INCREASE OF THE NUMBER OF POSITIONS OF CO-PRESIDENT OF THE BOARD OF CO-PRESIDENT OF THE BOARD OF DIRECTORS FROM 2 TO 3, WITHOUT CHANGING THE CURRENT NUMBER OF BOARD MEMBERS, WITH THE CONSEQUENT REFORM OF ARTICLE 18 OF THE BY-LAWS	Management	Unknown	Against
6	APPROVE TO DELIBERATE ON THE CHANGE OF THE STOP OPTIONS PROGRAM	Management	Unknown	For
7	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: NET SERVICOS DE COMUNICACAO S A MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P7902J113
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	MARKET RULES REQUIRE ADP TO DISCLOSE BENEFICIAL OWNER INFORMATION FOR ALL VOTED ACCOUNTS. IF AN ACCOUNT HAS MULTIPLE BENEFICIAL OWNERS, YOU WILL NEED TO PROVIDE THE BREAKDOWN OF EACH BENEFICIAL OWNER NAME, ADDRESS AND SHARE POSITION TO YOUR ADP CLIENT SERVICE REPRESENTATIVE. THIS INFORMATION IS REQUIRED IN ORDER FOR ADP TO LODGE YOUR VOTE. THANK YOU.	N/A	N/A	N/A
3	APPROVE THE BOARD OF DIRECTORS ANNUAL REPORT, THE FINANCIAL STATEMENTS, EXTERNAL AUDITORS AND THE DOCUMENTS OPINION REPORT AND DISTRIBUTION OF THE NET PROFITS OF THE FYE 31 DEC 2004	Management	Unknown	For
4	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND SET THEIR REMUNERATION	Management	Unknown	For
5	APPOINT THE OPERATIONS EXECUTIVE OFFICER AND CONSEQUENTLY AMEND THE ARTICLE 16 OF THE COMPANY BY-LAWS	Management	Unknown	For
6	APPROVE THE ATTRIBUTIONS OF THE OPERATIONS EXECUTIVE OFFICER AND CONSEQUENTLYAMEND THE ARTICLE 17 OF THE COMPANY BY-LAWS	Management	Unknown	Abstain
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PETROBRAS ENERGIA PARTICIPACIONES S. MEETING DATE: 09/24/2004
TICKER: PZE     SECURITY ID: 71646M102
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE RESIGNING DIRECTOR S PERFORMANCE.	Management	For	For
2	APPROVAL OF THE APPOINTMENT OF THE REGULAR DIRECTOR TO REPLACE THE RESIGNING DIRECTOR.	Management	For	For

ISSUER NAME: PETROLEO BRASILEIRO S.A. - PETROBRAS MEETING DATE: 03/31/2005
TICKER: PBR     SECURITY ID: 71654V408
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE MANAGEMENT REPORT, THE FINANCIAL STATEMENTS AND AUDIT COMMITTEE S OPINION FOR THE FISCAL YEAR 2004.	Management	For	For
2	APPROVAL OF THE CAPITAL EXPENDITURES BUDGET FOR THE FISCAL YEAR 2005.	Management	For	For
3	APPROVAL OF THE DISTRIBUTION OF RESULTS FOR THE FISCAL YEAR 2004.	Management	For	For
4	APPROVAL OF THE ELECTION OF MEMBERS TO THE BOARD OF DIRECTORS, AUDIT COMMITTEE AND THEIR RESPECTIVE SUBSTITUTES, TO VOTE IN THE SAME MANNER AS THE MAJORITY OF THE SHAREHOLDERS AT THE MEETING.*1	Management	For	For
5	APPROVAL OF THE ELECTION OF THE CHAIRMAN OF THE BOARD OF DIRECTORS.	Management	For	For
6	APPROVAL OF THE ESTABLISHMENT OF THE COMPENSATION OF MANAGEMENT AND EFFECTIVE MEMBERS OF THE AUDIT COMMITTEE, AS WELL AS THEIR PARTICIPATION IN THE PROFITS PURSUANT TO ARTICLES 41 AND 56 OF THE COMPANY S BYLAWS.	Management	For	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: PETROLEO BRASILEIRO SA PETROBRAS MEETING DATE: 03/31/2005
TICKER: --     SECURITY ID: P78331140
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	PLEASE NOTE THAT PREFFERED SHAREHOLDERS CAN VOTE ON RESOLUTION 4. THANK YOU.	N/A	N/A	N/A
3	APPROVE THE BOARD OF DIRECTORS ANNUAL REPORT, THE FINANCIAL STATEMENTS AND THE FINANCE COMMITTEE REPORT RELATING TO FY OF 2004	N/A	N/A	N/A
4	APPROVE THE BUDGET OF CAPITAL, RELATIVE TO THE EXERCISE 2005	N/A	N/A	N/A
5	APPROVE THE DESTINATION OF THE YE RESULTS OF 2004	N/A	N/A	N/A
6	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS, THE FINANCE COMMITTEE AND THE RESPECTIVE SUBSTITUTES	Management	Unknown	For
7	ELECT THE PRESIDENT OF THE BOARD OF DIRECTORS	N/A	N/A	N/A
8	APPROVE TO SET THE REMUNERATION OF THE DIRECTORS AND THE FULL MEMBERS OF THE FINANCE COMMITTEE AS WELL AS THEIR SHARE IN PROFITS, IN THE MANNER PROVIDED BY THE ARTICLES 41 AND 56 OF THE COMPANY BY-LAWS	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SADIA SA MEETING DATE: 04/29/2005
TICKER: --     SECURITY ID: P8711W105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THE PREFERRED SHAREHOLDERS CAN ONLY VOTE FOR RESOLUTION D.THANK YOU	N/A	N/A	N/A
2	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
3	APPROVE TO TAKE KNOWLEDGE OF THE DIRECTORS ACCOUNTS, TO EXAMINE, AND APPROVE THE BOARD OF DIRECTORS REPORT, THE COMPANYS CONSOLIDATED FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004	N/A	N/A	N/A
4	APPROVE THE DESTINATION OF THE NET PROFIT OF THE FY AND APPROVE THE DIVIDENDSDISTRIBUTED	N/A	N/A	N/A
5	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND DETERMINE THE ANNUAL REMUNERATION FOR THE DIRECTORS	N/A	N/A	N/A
6	ELECT THE PRINCIPAL AND THE SUBSTITUTE MEMBERS OF THE FINANCE COMMIITTEE AND DETERMINE THEIR REMUNERATION	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SOCIEDAD QUIMICA Y MINERA DE CHILE S MEETING DATE: 04/29/2005
TICKER: SQM     SECURITY ID: 833635105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	BALANCE SHEET, AUDITED FINANCIAL STATEMENTS, ANNUAL REPORT, REPORT OF THE ACCOUNTING INSPECTORS AND REPORT OF THE EXTERNAL AUDITORS FOR THE BUSINESS YEAR ENDED DECEMBER 31, 2004.	Management	Unknown	For
2	APPOINTMENT OF THE EXTERNAL AUDITORS AND ACCOUNTING INSPECTORS OF THE COMPANY FOR THE BUSINESS YEAR 2005.	Management	Unknown	For
3	OPERATIONS REFERRED TO IN ARTICLE 44 OF LAW NO 18,046 ( LAW OF CORPORATIONS OF CHILE).1	Management	Unknown	For
4	INVESTMENT AND FINANCING POLICIES.	Management	Unknown	For
5	NET INCOME FOR THE YEAR 2004, DEFINITIVE DIVIDEND DISTRIBUTION AND POLICY ON FUTURE DIVIDENDS.	Management	Unknown	For
6	EXPENSES OF THE BOARD OF DIRECTORS FOR THE BUSINESS YEAR 2004.	Management	Unknown	For
7	ELECTION OF AND COMPENSATION FOR THE MEMBERS OF THE BOARD.	Management	Unknown	For
8	ISSUES RELATED TO THE DIRECTORS COMMITTEE.	Management	Unknown	Abstain
9	OTHER MATTERS OF INTEREST OF THE COMPANY OR THAT MAY CORRESPOND IN ACCORDANCE WITH THE LAW.	Management	Unknown	Abstain
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: SOCIEDAD QUIMICA Y MINERA DE CHILE S MEETING DATE: 05/25/2005
TICKER: SQM     SECURITY ID: 833635105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	MODIFY THE COMPANY S BY-LAWS AS STATED IN ITEM 1 OF THE ENCLOSED NOTICE.	Management	Unknown	None
2	MODIFY THE COMPANY S BY-LAWS AS STATED IN ITEM 2 OF THE ENCLOSED NOTICE.	Management	Unknown	None
3	ADOPT ALL THE ADDITIONAL NECESSARY AGREEMENTS TO IMPLEMENT ITEMS 1 AND 2 AS VOTED BY THE SHAREHOLDERS.	Management	Unknown	None

ISSUER NAME: SOCIEDAD QUIMICA Y MINERA DE CHILE S MEETING DATE: 05/25/2005
TICKER: SQM     SECURITY ID: 833635105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	MODIFY THE COMPANY S BY-LAWS AS STATED IN ITEM 1 OF THE ENCLOSED NOTICE	Opposition	Unknown	For
2	MODIFY THE COMPANY S BY-LAWS AS STATED IN ITEM 2 OF THE ENCLOSED NOTICE	Opposition	Unknown	For
3	ADOPT ALL THE ADDITIONAL NECESSARY AGREEMENTS TO IMPLEMENT ITEMS 1 AND 2 AS VOTED BY THE SHAREHOLDERS.	Opposition	Unknown	For

ISSUER NAME: TELE NORTE LESTE PARTICIPACOES S A MEETING DATE: 04/12/2005
TICKER: --     SECURITY ID: P9036X117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND APPOROVE THE BOARD OF DIRECTORS REPORT AND THE FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004, ACCOMPANIED BY THE INDEPENDENT AUDITORS OPINION	Management	Unknown	For
3	APPROVE TO DISTRIBUTE THE NET PROFITS FROM THE FY 2004 AND TO PAY COMPANY DIVIDENDS, WITHIN THE LIMITS OF INTEREST ON OWN CAPITAL DECLARED DURING THE FY 2004, AND PROFIT SHARING TO EMPLOYEES AS PROVIDED IN ARTICLE 41 OF THE COMPANY BY-LAWS	Management	Unknown	For
4	ELECT MEMBERS OF THE FINANCE COMMITTEE AND THEIR RESPECTIVE SUBSTITUTES	Management	Unknown	For
5	APPROVE THE REMUNERATION FOR DIRECTORS AND MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TELE NORTE LESTE PARTICIPACOES S A MEETING DATE: 04/19/2005
TICKER: --     SECURITY ID: P9036X117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	APPROVE THE INTEREST ON OWN CAPITAL ACCOUNTING APPROPRIATION TO A LIMIT OF BRL 1,000,000,000.00 DURING THE FY 2005	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TELE NORTE LESTE PARTICIPACOES SA MEETING DATE: 12/29/2004
TICKER: --     SECURITY ID: P9036X117
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU.1	N/A	N/A	N/A
2	APPROVE TO ANALYZE THE SIGNING OF THESE CONTRACTS BETWEEN THE COMPANIES TNL CONTAX S.A CONTAX AND TELEMAR NORTE LESTE S.A. TMAR - I) PROVISION OF CALL CENTER SERVICES CONTRACT BY CONTAX TO TMAR AND TO TNL PCS S.A. AND II) PROVISION OF TELECOMMUNICATIONS SERVICES BY TMAR TO CONTAX1	Management	Unknown	None
3	APPROVE TO ANALYZE THE REDUCTION IN THE COMPANY S CORPORATE STOCK BY A VALUE CORRESPONDING TO THE INVESTMENT HELD BY THE SAME IN CONTAX PARTICIPACOES S/A , EVALUATED IN THE EVALUATION REPORT PREPARED BY APSIS CONSULTORIA EMPRESARIAL USING 30 NOV 2004 AS BASE DATE, WITH THE CONSEQUENT DELIVERY TO THE COMPANY SHAREHOLDERS, OF CONTAX PARTICIPACOES S/A SHARES IN THE SAME PROPORTION AS THEIR PARTICIPATION IN THE COMPANY S CAPITAL	Management	Unknown	None
4	AMEND THE WORDING OF THE ARTICLES 5 AND 6 OF THE COMPANY BYLAWS AS A RESULT OF THE REDUCTION IN CORPORATE STOCK AS SPECIFIED, AS WELL AS THE GROUPING OF SHARES APPROVED BY THE EGM HELD ON 24 MAY 2004, TO CHANGE THE NUMBER OF SHARES INTO WHICH THE COMPANY S CORPORATE STOCK IS DIVIDEND AND THE NUMBER OF SHARES TO WHICH THE COMPANY IS ALLOWED TO INCREASE THE CORPORATE STOCK FOLLOWING A DECISION OF THE BOARD OF DIRECTORS AUTHORIZED CAPITAL	Management	Unknown	None
5	ELECT A MEMBER TO SIT ON THE BOARD OF DIRECTORS TO COMPLETE THE TERM OF OFFICE FOR THE VACANCY PROVIDED IN THE ARTICLE 150 OF LAW NUMBER 6.404/76	Management	Unknown	None
6	PLEASE NOTE THAT THE MEETING HELD ON 17 DEC 2004 HAS BEEN POSTPONED DUE TO LACK OF QUORUM AND THAT THE SECOND CONVOCATION WILL BE HELD ON 29 DEC 2004. PLEASE ALSO NOTE THE NEW CUTOFF DATE IS 22 DEC 2004. IF YOU HAVE ALREADY SENT YOUR VOTES, PLEASE DO NOT RETURN THIS PROXY FORM UNLESS YOU DECIDE TO AMEND YOUR ORIGINAL INSTRUCTIONS. THANK YOU.	N/A	N/A	N/A
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TELECOM ARGENTINA, S.A. MEETING DATE: 11/02/2004
TICKER: TEO     SECURITY ID: 879273209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPOINTMENT OF TWO SHAREHOLDERS TO APPROVE AND SIGN THE MINUTES.	Management	For	None
2	RATIFICATION OF ALL BOARD MEMBERS AND COMPANY OFFICERS ACTIONS IN CONNECTION WITH THE APE SOLICITATION STATEMENT ( APE ), AS MORE FULLY DESCRIBED ON THE COMPANY S WEBSITE LISTED BELOW.1	Management	For	None
3	APPROVAL OF THE ISSUANCE - SUBJECT TO COMPLIANCE WITH THE TERMS OF THE APE SOLICITATION STATEMENT AND APPROVAL BY THE RELEVANT REGULATORY AUTHORITY - OF THE NEW NOTES, NON-CONVERTIBLE INTO SHARES, PURSUANT TO LAW NO 23,576, AS MORE FULLY DESCRIBED ON THE COMPANY S WEBSITE LISTED BELOW.	Management	For	None
4	DELEGATION TO THE BOARD OF AMPLE AUTHORITY TO ESTABLISH ALL TERMS AND CONDITIONS FOR THE ISSUANCE, OFFER, AND PLACEMENT OF THE NEW NOTES, AS MORE FULLY DESCRIBED ON THE COMPANY S WEBSITE LISTED BELOW.	Management	For	None
5	GRANTING TO THE BOARD OF AUTHORITY TO SUB-DELEGATE THE POWERS AND AUTHORITY GRANTED BY THE MEETING TO ANY ONE OR MORE BOARD MEMBERS AND/OR SENIOR OFFICERS OF THE COMPANY.	Management	For	None
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TELECOM ARGENTINA, S.A. MEETING DATE: 11/26/2004
TICKER: TEO     SECURITY ID: 879273209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPOINTMENT OF TWO SHAREHOLDERS TO APPROVE AND SIGN THE MINUTES OF THE MEETING.	Management	For	None
2	RATIFICATION OF THE FILING WITH THE COURTS OF THE ACUERDO PREVENTIVO EXTRAJUDICIAL OF TELECOM. RESOLUTION WHETHER OR NOT CONTINUE WITH THE PROCESS THEREOF. APPROVAL OF THE EVENTUAL FILING OF APE TO COURTS OF FOREIGN COMPETENT JURISDICTION.	Management	For	None

ISSUER NAME: TELECOM ARGENTINA, S.A. MEETING DATE: 04/27/2005
TICKER: TEO     SECURITY ID: 879273209
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPOINTMENT OF TWO SHAREHOLDERS TO APPROVE AND SIGN THE MINUTES.	Management	For	None
2	CONSIDERATION OF THE DOCUMENTS PROVIDED FOR IN SECTION 234, SUBSECTION 1 OF LAW 19,550, THE REGULATION OF THE COMISION NACIONAL DE VALORES	Management	For	None
3	DISCUSSION OF COMPANY S STATUS UNDER SECTION 206 OF THE CORPORATE LAW ( LSC ).1	Management	For	None
4	REVIEW OF THE PERFORMANCE OF THE BOARD OF DIRECTORS AND THE SURVEILLANCE COMMITTEE ACTING DURING THE SIXTEENTH FISCAL YEAR.	Management	For	None
5	REVIEW OF THE BOARD OF DIRECTORS COMPENSATION ($1,670,000,- ALLOCATED AMOUNT) FOR THE FISCAL YEAR ENDED ON DECEMBER 31, 20041	Management	For	None
6	AUTHORIZATION OF THE BOARD OF DIRECTORS TO MAKE ADVANCE PAYMENTS OF FEES PAYABLE IN THE AMOUNT SET FORTH AT THE MEETING.	Management	For	None
7	FEES PAYABLE TO THE SURVEILLANCE COMMITTEE ACTING DURING THE SIXTEENTH FISCAL YEAR.	Management	For	None
8	DETERMINATION OF THE NUMBER OF REGULAR AND ALTERNATE DIRECTORS WHO SHALL HOLD OFFICE DURING THE SEVENTEENTH FISCAL YEAR.	Management	For	None
9	ELECTION OF REGULAR AND ALTERNATE DIRECTORS TO SERVE DURING THE SEVENTEENTH FISCAL YEAR.	Management	For	None
10	ELECTION OF REGULAR AND ALTERNATE MEMBERS OF THE SURVEILLANCE COMMITTEE FOR THE SEVENTEENTH FISCAL YEAR.	Management	For	None
11	APPOINTMENT OF THE INDEPENDENT AUDITORS WHO SHALL REVIEW THE FINANCIAL STATEMENTS FOR THE SEVENTEETH FISCAL YEAR.	Management	For	None
12	CONSIDERATION OF THE BUDGET TO BE ASSIGNED TO THE AUDIT COMMITTEE FOR THE FISCAL YEAR 2005.	Management	For	None
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TELEMAR NORTE LESTE SA MEETING DATE: 04/12/2005
TICKER: --     SECURITY ID: P9037H103
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	IMPORTANT MARKET PROCESSING REQUIREMENT: A BENEFICIAL OWNER SIGNED POWER OF ATTORNEY (POA) IS REQUIRED IN ORDER TO LODGE AND EXECUTE YOUR VOTING INSTRUCTIONS IN THIS MARKET. ABSENCE OF A POA, MAY CAUSE YOUR INSTRUCTIONS TO BE REJECTED. SHOULD YOU HAVE ANY QUESTIONS, PLEASE CONTACT YOUR CLIENT SERVICE REPRESENTATIVE AT ADP. THANK YOU1	N/A	N/A	N/A
2	ACKNOWLEDGE THE DIRECTORS ACCOUNTS AND APPROVE THE BOARD OF DIRECTORS REPORT AND THE FINANCIAL STATEMENTS FOR THE FYE 31 DEC 2004, ACCOMPANIED BY THE INDEPENDENT AUDITORS OPINION	Management	Unknown	For
3	APPROVE THE DISTRIBUTION OF THE NET PROFITS FROM THE FY 2004 AND TO PAY COMPANY DIVIDENDS, WITHIN THE LIMITS OF INTEREST ON OWN CAPITAL DECLARED DURING THE FY 2004, AND TO PAY PROFIT SHARING TO EMPLOYEES AS PROVIDED IN ARTICLE 41 OF THE COMPANY BY-LAWS	Management	Unknown	For
4	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND THEIR RESPECTIVE SUBSTITUTES	Management	Unknown	For
5	ELECT THE MEMBERS OF THE FINANCE COMMITTEE AND THEIR RESPECTIVE SUBSTITUTES	Management	Unknown	For
6	APPROVE THE REMUNERATION FOR THE DIRECTORS AND THE MEMBERS OF THE FINANCE COMMITTEE	Management	Unknown	For
1. Fidelity displays agenda items and descriptions, including the use of characters (such as page numbers, percentage and pound signs, ampersands and, in particular, asterisks and other footnote designations) as they are provided by the issuer and the vote processing agent. Generally, asterisks refer to the class of director or stock or indicate notice of voting instructions.

ISSUER NAME: TENARIS, S.A. MEETING DATE: 05/25/2005
TICKER: TS     SECURITY ID: 88031M109
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	CONSIDERATION OF THE BOARD OF DIRECTORS AND INDEPENDENT AUDITOR S REPORTS ON THE CONSOLIDATED FINANCIAL STATEMENTS.	Management	For	None
2	CONSIDERATION OF THE BOARD OF DIRECTORS AND INDEPENDENT AUDITOR S REPORTS ON THE UNCONSOLIDATED ANNUAL ACCOUNTS.	Management	For	None
3	ALLOCATION OF RESULTS AND APPROVAL OF DIVIDEND PAYMENT.	Management	For	None
4	DISCHARGE TO THE MEMBERS OF THE BOARD OF DIRECTORS.	Management	For	None
5	ELECTION OF THE BOARD OF DIRECTORS MEMBERS.	Management	For	None
6	AUTHORIZATION TO THE BOARD OF DIRECTORS TO DELEGATE THE DAY-TO-DAY MANAGEMENT OF THE COMPANY S BUSINESS.	Management	For	None
7	BOARD OF DIRECTORS COMPENSATION.	Management	For	None
8	APPOINTMENT OF INDEPENDENT AUDITORS AND APPROVAL OF THEIR FEES.	Management	For	None
9	AMENDMENT OF ARTICLE 9 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY.	Management	For	None
10	AMENDMENT OF ARTICLE 10 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY.	Management	For	None
11	AMENDMENT OF ARTICLE 15 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY.	Management	For	None
12	AMENDMENT OF ARTICLE 16 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY.	Management	For	None
13	AMENDMENT OF ARTICLE 19 OF THE ARTICLES OF ASSOCIATION OF THE COMPANY.	Management	For	None

ISSUER NAME: URBI DESARROLLOS URBANOS SA DE CV MEETING DATE: 04/25/2005
TICKER: --     SECURITY ID: P9592Y111
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THIS IS AN OGM. THANK YOU.	N/A	N/A	N/A
2	APPROVE THE ANNUAL REPORT PURSUANT TO ARTICLE 172 OF THE COMMERCIAL COMPANIESLAW, FOR THE FYE ON 31 DEC 2004, INCLUDING THE FINANCIAL STATEMENTS OF THE COMPANY AND MAIN SUBSIDIARIES, FOR SUCH FY, AND THE REPORT OF THE COMMISSIONER	Management	Unknown	For
3	APPROVE ABOUT HOW TO APPLY THE EARNINGS	Management	Unknown	For
4	APPOINT THE MEMBERS FOR THE BOARD OF DIRECTORS AND COMMISSIONERS, AS WELL AS RESPECTIVE ALTERNATES, AND SET RESPECTIVE ALLOWANCES	Management	Unknown	For
5	APPROVE TO SET THE MAXIMUM AMOUNT OF RESOURCES TO PURCHASE COMPANY SHARES	Management	Unknown	For
6	APPOINT SPECIAL DELEGATES TO EXECUTE AND LEGALIZE THE RESOLUTIONS ADOPTED BY THE MEETING	Management	Unknown	For

ISSUER NAME: VINA CONCHA Y TORO S.A. MEETING DATE: 04/26/2005
TICKER: VCO     SECURITY ID: 927191106
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	APPROVAL OF THE ANNUAL REPORT, BALANCE SHEET, FINANCIAL STATEMENTS AND INDEPENDENT EXTERNAL AUDITORS REPORT, CORRESPONDING TO THE PERIOD BEGINNING JANUARY 1, AND ENDING DECEMBER 31, 2004.	Management	Unknown	For
2	APPROVAL OF THE PROFIT DISTRIBUTION AND DIVIDEND POLICY.	Management	Unknown	For
3	ELECTION OF THE BOARD OF DIRECTORS.	Management	Unknown	For
4	DESIGNATE THE INDEPENDENT ACCOUNTANTS THAT WILL EXERCISE THE FUNCTION OF EXTERNAL AUDITORS FOR FISCAL 2005.	Management	Unknown	For
5	SET THE COMPENSATION OF THE BOARD OF DIRECTORS.	Management	Unknown	For
6	SET COMPENSATION FOR THE MEMBERS OF THE BOARD OF DIRECTORS COMMITTEE, AS REFERRED TO IN ARTICLE 50BIS OF LAW 18.046; AND ESTABLISH THE BUDGET FOR COMMITTEE EXPENDITURE FOR FISCAL YEAR 2005.	Management	Unknown	For
7	DETERMINE THE NEWSPAPER IN WHICH NOTIFICATION OF THE NEXT SHAREHOLDERS MEETING WILL BE PUBLISHED.	Management	Unknown	For
8	REPORT ON COMPANY TRANSACTIONS AS STIPULATED IN ARTICLE 44 OF LAW NO. 18.046.	Management	Unknown	For
9	DESIGNATE THE RISK RATING COMPANY.	Management	Unknown	For
10	APPROVAL OF OTHER MATTERS RELEVANT TO THE ORDINARY SHAREHOLDERS MEETINGS.	Management	Unknown	Abstain

ISSUER NAME: VOTORANTIM CELULOSE E PAPEL SA MEETING DATE: 04/20/2005
TICKER: --     SECURITY ID: P9806R118
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	PLEASE NOTE THAT THESE SHARES HAVE NO VOTING RIGHTS, SHOULD YOU WISH TO ATTEND THE MEETING PERSONALLY, YOU MAY APPLY FOR AN ENTRANCE CARD BY CONTACTING YOUR CLIENT REPRESENTATIVE AT ADP. THANK YOU.	N/A	N/A	N/A
2	APPROVE THE ACCOUNTS OF THE DIRECTOR S AND FINANCIAL STATEMENTS RELATING TO FYE 31 DEC 2004	N/A	N/A	N/A
3	APPROVE THE DISTRIBUTION OF NET PROFITS FROM THE FY 2004 AND TO PAY COMPANY DIVIDENDS	N/A	N/A	N/A
4	ELECT THE MEMBERS OF THE BOARD OF DIRECTORS AND FINANCE COMMITTEE AND SET THEIR REMUNERATION	N/A	N/A	N/A
5	APPROVE TO CHANGE THE MEDIA FOR PUBLISHING	N/A	N/A	N/A

ISSUER NAME: WAL-MART DE MEXICO SA DE CV, MEXICO MEETING DATE: 02/24/2005
TICKER: --     SECURITY ID: P98180105
Proposal No	Proposal	Proposed By	Management Recommendation	Vote Cast
1	RECEIVE THE ADMINISTRATIVE COUNCIL PRESIDENT S REPORT	Management	Unknown	For
2	RECEIVE THE AUDITING COMMITTEE S REPORT	Management	Unknown	For
3	RECEIVE THE COMMISSIONER S REPORT	Management	Unknown	For
4	RECEIVE AND APPROVE THE FINANCIAL DOCUMENTS CORRESPONDING TO FY BEGINNING 01 JAN 2004 AND ENDING 31 DEC 2004	Management	Unknown	For
5	RECEIVE THE REPORT OF THE SITUATION OF THE RESERVES FOR THE REPURCHASE OF SHARES	Management	Unknown	For
6	APPROVE TO CANCEL 105,254,300 COMPANY SHARES CURRENTLY HELD IN TREASURY	Management	Unknown	For
7	APPROVE THE ALLOCATION OF PROFITS	Management	Unknown	For
8	APPROVE THE DIVIDEND TO BE PAID, AT THE OPTION OF THE SHAREHOLDER, AS A CASH DIVIDEND OF MXN 0.63 PER SHARE, OR AS A STOCK DIVIDEND AT A RATIO TO BE DETERMINED BASED ON THE CLOSING PRICE OF SERIES V SHARES ON 15 MAR 2005; PROPOSED PAY DATE OF THIS DIVIDEND IS 01 APR 2005	Management	Unknown	For
9	APPROVE AN INCREASE OF THE COMPANY S VARIABLE CAPITAL, THROUGH THE EMISSION OF UP TO 137,613,254 COMMON SHARES, TO BE USED EXCLUSIVELY FOR THE PAYMENT OF THE STOCK DIVIDEND; THE INCREASE OF CAPITAL WILL BE UP TO MXN 2,752,265,080	Management	Unknown	For
10	APPROVE THE REFORMATION OF THE FIFTH CLAUSE OF THE COMPANY BY-LAWS	Management	Unknown	For
11	APPROVE THE EMPLOYEE STOCK PURCHASE REPORT	Management	Unknown	Abstain
12	RECEIVE THE WAL-MART OF MEXICO FOUNDATION S REPORT	Management	Unknown	For
13	RATIFY THE PERFORMANCE OF THE ADMINISTRATIVE COUNCIL DURING THE FY BEGINNING ON 01 JAN 2005 AND ENDING ON 31 DEC 2004	Management	Unknown	For
14	RATIFY THE MEMBERS OF THE ADMINISTRATIVE COUNCIL AND THE COMPANY COMMISSIONERS	Management	Unknown	For
15	APPROVE THE RESOLUTIONS IN THE MINUTES OF THE MEETING	Management	Unknown	For