Putnam Investors Fund NPX Annual report of proxy voting record

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-159

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

One Post Office Square

Boston, Massachusetts 02109
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  (Address of principal executive offices)

Beth S. Mazor, Vice President

Putnam Investors Fund

One Post Office Square

Boston, Massachusetts 02109



Copy to:

John W. Gerstmayr, Esq.

Ropes & Gray LLP

One International Place

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


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

Date of Fiscal year-end: 7/31/2005

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

Item 1. Proxy Voting Record

Account Number: Putnam Investors Fund

ISSUER NAME		TICKER	CUSIP	MTG DATE	MTG TYPE
				Proposal Type	Voted	Vote	For/Agnst Mgmt
*3M Co*		*MMM*	*88579Y101*	*5/10/05*	*Annual*
1.01	Elect Vance D. Coffman			MGMT	YES	FOR	FOR
1.02	Elect Rozanne L. Ridgway			MGMT	YES	FOR	FOR
1.03	Elect Louis W. Sullivan			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
5.00	China--adopt code of conduct			SHLDR	YES	AGNST	FOR

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

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

*Adobe Systems Inc*		*ADBE*	*00724F101*	*4/28/05*	*Annual*
1.01	Elect Carol Mills			MGMT	YES	FOR	FOR
1.02	Elect Colleen M. Pouliot			MGMT	YES	FOR	FOR
1.03	Elect Robert Sedgewick			MGMT	YES	FOR	FOR
1.04	Elect John E. Warnock			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Add Shares to Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Expense stock options			SHLDR	YES	AGNST	FOR
5.00	Require option shares to be held			SHLDR	YES	AGNST	FOR
6.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*AES Corp*		*AES*	*00130H105*	*4/28/05*	*Annual*
1.01	Elect Richard Darman			MGMT	YES	FOR	FOR
1.02	Elect Paul T. Hanrahan			MGMT	YES	FOR	FOR
1.03	Elect Kristina M. Johnson			MGMT	YES	FOR	FOR
1.04	Elect John A. Koskinen			MGMT	YES	FOR	FOR
1.05	Elect Philip Lader			MGMT	YES	FOR	FOR
1.06	Elect John H. McArthur			MGMT	YES	FOR	FOR
1.07	Elect Sandra O. Moose			MGMT	YES	FOR	FOR
1.08	Elect Phillip A. Odeen			MGMT	YES	FOR	FOR
1.09	Elect Charles O. Rossotti			MGMT	YES	FOR	FOR
1.10	Elect Sven Sandstrom			MGMT	YES	FOR	FOR
1.11	Elect Roger W. Sant			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Alberto-Culver Co*		*ACV*	*013068101*	*1/27/05*	*Annual*
1.01	Elect Howard B. Bernick			MGMT	YES	FOR	FOR
1.02	Elect King W. Harris			MGMT	YES	FOR	FOR
1.03	Elect Sam J. Susser			MGMT	YES	FOR	FOR

*Alliance Data Systems*		*ADS*	*018581108*	*6/7/05*	*Annual*
1.01	Elect Bruce K. Anderson			MGMT	YES	FOR	FOR
1.02	Elect Roger H. Ballou			MGMT	YES	FOR	FOR
1.03	Elect E. Linn Draper Jr.			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Long Term Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the Executive Annual Incentive Plan			MGMT	YES	FOR	FOR
4.00	Adopt the Employee Stock Purchase Plan			MGMT	YES	FOR	FOR

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

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

*American Tower Corp*		*AMT*	*029912201*	*5/26/05*	*Annual*
1.01	Elect Raymond P. Dolan			MGMT	YES	FOR	FOR
1.02	Elect Carolyn F. Katz			MGMT	YES	FOR	FOR
1.03	Elect Gustavo Lara Cantu			MGMT	YES	FOR	FOR
1.04	Elect Fred R. Lummis			MGMT	YES	FOR	FOR
1.05	Elect Pamela D. A. Reeve			MGMT	YES	FOR	FOR
1.06	Elect James D. Taiclet Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*AmerisourceBergen Corp*		*ABC*	*03073E105*	*3/4/05*	*Annual*
1.01	Elect Rodney H. Brady			MGMT	YES	FOR	FOR
1.02	Elect Charles H. Cotros			MGMT	YES	FOR	FOR
1.03	Elect Jane E. Henney			MGMT	YES	FOR	FOR
1.04	Elect R. David Yost			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Amgen Inc*		*AMGN*	*031162100*	*5/11/05*	*Annual*
1.01	Elect David Baltimore			MGMT	YES	FOR	FOR
1.02	Elect Judith C. Pelham			MGMT	YES	FOR	FOR
1.03	Elect Kevin W. Sharer			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.01	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
3.02	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR
3.03	SP - Require option shares to be held			SHLDR	YES	AGNST	FOR

*Amphenol Corp*		*APH*	*032095101*	*5/25/05*	*Annual*
1.01	Elect Ronald P. Badie			MGMT	YES	FOR	FOR
1.02	Elect Dean H. Secord			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Apache Corp*		*APA*	*037411105*	*5/5/05*	*Annual*
1.01	Elect G. Steven Farris			MGMT	YES	FOR	FOR
1.02	Elect Randolph M. Ferlic			MGMT	YES	FOR	FOR
1.03	Elect A. D. Frazier Jr.			MGMT	YES	FOR	FOR
1.04	Elect John A. Kocur			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Approve long-term bonus plan			MGMT	YES	FOR	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
5.00	Limit non-audit fees			SHLDR	YES	AGNST	FOR

*Apple Computer Inc*		*AAPL*	*037833100*	*4/21/05*	*Annual*
1.01	Elect Fred D. Anderson			MGMT	YES	FOR	FOR
1.02	Elect William V. Campbell			MGMT	YES	WHOLD	AGNST
1.03	Elect Millard S. Drexler			MGMT	YES	FOR	FOR
1.04	Elect Albert Gore Jr.			MGMT	YES	FOR	FOR
1.05	Elect Steven P Jobs			MGMT	YES	FOR	FOR
1.06	Elect Arthur D. Levinson			MGMT	YES	FOR	FOR
1.07	Elect Jerome B. York			MGMT	YES	FOR	FOR
2.00	Approve annual bonus plan			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Add shares to employee stock purchase plan			MGMT	YES	FOR	FOR
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*Applied Materials Inc*		*AMAT*	*038222105*	*3/23/05*	*Annual*
1.01	Elect Michael H. Armacost			MGMT	YES	FOR	FOR
1.02	Elect Deborah A. Coleman			MGMT	YES	FOR	FOR
1.03	Elect Herbert M. Dwight Jr.			MGMT	YES	FOR	FOR
1.04	Elect Philip V. Gerdine			MGMT	YES	FOR	FOR
1.05	Elect Paul R. Low			MGMT	YES	FOR	FOR
1.06	Elect Dan Maydan			MGMT	YES	FOR	FOR
1.07	Elect Steven L. Miller			MGMT	YES	FOR	FOR
1.08	Elect James C. Morgan			MGMT	YES	FOR	FOR
1.09	Elect Gerhard Parker			MGMT	YES	FOR	FOR
1.10	Elect Willem P. Roelandts			MGMT	YES	WHOLD	AGNST
1.11	Elect Michael R. Splinter			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Aramark Corp*		*RMK*	*038521100*	*2/8/05*	*Annual*
1.01	Elect Leonard S. Coleman Jr.			MGMT	YES	FOR	FOR
1.02	Elect Thomas H. Kean			MGMT	YES	FOR	FOR
1.03	Elect James E. Ksansnak			MGMT	YES	FOR	FOR
1.04	Elect James E. Preston			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Autodesk Inc*		*ADSK*	*052769106*	*6/23/05*	*Annual*
1.01	Elect Carol A. Bartz			MGMT	YES	FOR	FOR
1.02	Elect Mark A. Bertelsen			MGMT	YES	FOR	FOR
1.03	Elect Crawford W. Beveridge			MGMT	YES	FOR	FOR
1.04	Elect J. Hallam Dawson			MGMT	YES	FOR	FOR
1.05	Elect Michael J. Fister			MGMT	YES	FOR	FOR
1.06	Elect Per-Kristian Halvorsen			MGMT	YES	FOR	FOR
1.07	Elect Steven L. Scheid			MGMT	YES	FOR	FOR
1.08	Elect Mary Alice Taylor			MGMT	YES	FOR	FOR
1.09	Elect Larry W. Wangberg			MGMT	YES	FOR	FOR
2.00	Adopt the 2006 Stock Plan			MGMT	YES	AGNST	AGNST
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Adopt the Executive Incenitve Plan			MGMT	YES	FOR	FOR
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Autoliv Inc*		*ALV*	*052800109*	*4/26/05*	*Annual*
1.01	Elect Sune Carlsson			MGMT	YES	FOR	FOR
1.02	Elect S. Jay Stewart			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Automatic Data Processing*		*ADP*	*053015103*	*11/9/04*	*Annual*
1.01	Elect Gregory D. Brenneman			MGMT	YES	FOR	FOR
1.02	Elect Leslie A. Brun			MGMT	YES	FOR	FOR
1.03	Elect Gary C. Butler			MGMT	YES	FOR	FOR
1.04	Elect Joseph A. Califano Jr.			MGMT	YES	FOR	FOR
1.05	Elect Leon G. Cooperman			MGMT	YES	FOR	FOR
1.06	Elect R. Glenn Hubbard			MGMT	YES	FOR	FOR
1.07	Elect Ann Dibble Jordan			MGMT	YES	FOR	FOR
1.08	Elect Harvey M. Krueger			MGMT	YES	FOR	FOR
1.09	Elect Frederic V. Malek			MGMT	YES	FOR	FOR
1.10	Elect Henry Taub			MGMT	YES	WHOLD	AGNST
1.11	Elect Arthur F. Weinbach			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

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

*Avon Products Inc*		*AVP*	*054303102*	*5/5/05*	*Annual*
1.01	Elect Fred Hassan			MGMT	YES	FOR	FOR
1.02	Elect Ann S. Moore			MGMT	YES	FOR	FOR
1.03	Elect Lawrence A. Weinbach			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			MGMT	YES	FOR	FOR
4.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
5.00	Review charitable giving policy			SHLDR	YES	AGNST	FOR
6.00	Control generation of pollutants			SHLDR	YES	AGNST	FOR

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

*Bear Stearns Companies Inc*		*BSC*	*073902108*	*4/7/05*	*Annual*
1.01	Elect James E. Cayne			MGMT	YES	FOR	FOR
1.02	Elect Henry S Bienen			MGMT	YES	FOR	FOR
1.03	Elect Carl D. Glickman			MGMT	YES	FOR	FOR
1.04	Elect Alan C. Greenberg			MGMT	YES	FOR	FOR
1.05	Elect Donald J. Harrington			MGMT	YES	FOR	FOR
1.06	Elect Frank T. Nickell			MGMT	YES	FOR	FOR
1.07	Elect Paul A. Novelly			MGMT	YES	FOR	FOR
1.08	Elect Frederic V. Salerno			MGMT	YES	FOR	FOR
1.09	Elect Alan D. Schwartz			MGMT	YES	FOR	FOR
1.10	Elect Warren J. Spector			MGMT	YES	FOR	FOR
1.11	Elect Vincent S. Tese			MGMT	YES	FOR	FOR
1.12	Elect Wesley S. Williams Jr.			MGMT	YES	FOR	FOR
2.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Bed Bath & Beyond Inc*		*BBBY*	*075896100*	*7/1/04*	*Annual*
1.01	Elect Warren Eisenberg			MGMT	YES	FOR	FOR
1.02	Elect Victoria A. Morrison			MGMT	YES	FOR	FOR
1.03	Elect Fran Stoller			MGMT	YES	FOR	FOR
1.04	Elect Stanley F. Barshay			MGMT	YES	FOR	FOR
1.05	Elect Jordan Heller			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Report on EEO			SHLDR	YES	AGNST	FOR
5.00	Require Option Shares to Be Held			SHLDR	YES	AGNST	FOR

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

*Best Buy Co Inc*		*BBY*	*086516101*	*6/23/05*	*Annual*
1.01	Elect Ronald James			MGMT	YES	FOR	FOR
1.02	Elect Elliot S. Kaplan			MGMT	YES	FOR	FOR
1.03	Elect Mathew H. Paull			MGMT	YES	FOR	FOR
1.04	Elect Richard M. Schulze			MGMT	YES	FOR	FOR
1.05	Elect Mary A. Tolan			MGMT	YES	FOR	FOR
1.06	Elect Hatim A. Tyabji			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*BHP Billiton PLC*		*BBL*	*05545E209*	*11/25/04*	*Annual*
1.00	Approve Financial Statements			MGMT	YES	FOR	FOR
2.00	Approve Financial Statements			MGMT	YES	FOR	FOR
3.00	Elect Donald R. Argus			MGMT	YES	AGNST	AGNST
4.00	Elect Donald R. Argus			MGMT	YES	AGNST	AGNST
5.00	Elect David A. Crawford			MGMT	YES	AGNST	AGNST
6.00	Elect David A. Crawford			MGMT	YES	AGNST	AGNST
7.00	Elect Charles Goodyear			MGMT	YES	AGNST	AGNST
8.00	Elect Charles Goodyear			MGMT	YES	AGNST	AGNST
9.00	Elect Dr John Schubert			MGMT	YES	AGNST	AGNST
10.00	Elect Dr John Schubert			MGMT	YES	AGNST	AGNST
11.00	Appoint Auditors and Set Their Fees			MGMT	YES	FOR	FOR
12.00	Issue Stock w/ Preemptive Rights			MGMT	YES	FOR	FOR
13.00	Issue Stock w/o Preemptive Rights			MGMT	YES	FOR	FOR
14.00	Authorize Share Repurchase			MGMT	YES	FOR	FOR
15.00	Approve Remuneration Policy			MGMT	YES	FOR	FOR
16.00	Amend Executive Profit Sharing/Bonus Plan			MGMT	YES	FOR	FOR
	Reauthorize Share Issue Limit
17.00	Approve Executive Profit Sharing/Bonus Plan			MGMT	YES	FOR	FOR
	Reauthorize Share Issue Limit
18.00	Approve Directors for Stock Opt/Purchase Plan			MGMT	YES	FOR	FOR
19.00	Approve Directors for Stock Opt/Purchase Plan			MGMT	YES	FOR	FOR

*BHP Billiton PLC*			*G10877101*	*6/13/05*	*Special*
1.00	Set Dividend at 26.00p			MGMT	YES	FOR	FOR
2.00	Reduce share premium account			MGMT	YES	FOR	FOR

*BHP Billiton PLC*		*BBL*	*05545E209*	*6/13/05*	*Special*
1.00	Set Dividend at 26.00p			MGMT	YES	FOR	FOR
2.00	Reduce share premium account			MGMT	YES	FOR	FOR

*Biogen Idec Inc*		*BIIB*	*09062X103*	*6/3/05*	*Annual*
1.01	Elect Dr.Thomas F. Keller			MGMT	YES	FOR	FOR
1.02	Elect Dr.William H. Rastetter			MGMT	YES	FOR	FOR
1.03	Elect Lynn Schenk			MGMT	YES	FOR	FOR
1.04	Elect Dr.Phillip A. Sharp			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Omnibus Equity Plan			MGMT	YES	AGNST	AGNST
4.00	Adopt the Amended and Restated 1995 Employee Stock Purchase Plan			MGMT	YES	FOR	FOR

*BMC Software Inc*		*BMC*	*055921100*	*8/24/04*	*Annual*
1.01	Elect B. Garland Cupp			MGMT	YES	FOR	FOR
1.02	Elect Robert E. Beauchamp			MGMT	YES	FOR	FOR
1.03	Elect Jon E. Barfield			MGMT	YES	FOR	FOR
1.04	Elect John W. Barter			MGMT	YES	FOR	FOR
1.05	Elect Meldon K. Gafner			MGMT	YES	FOR	FOR
1.06	Elect L. W. Gray			MGMT	YES	FOR	FOR
1.07	Elect Kathleen A. O'Neil			MGMT	YES	FOR	FOR
1.08	Elect George F. Raymond			MGMT	YES	FOR	FOR
1.09	Elect Tom C. Tinsley			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

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

*Boston Scientific Corp*		*BSX*	*101137107*	*5/10/05*	*Annual*
1.01	Elect Ray J. Groves			MGMT	YES	FOR	FOR
1.02	Elect Peter M. Nicholas			MGMT	YES	FOR	FOR
1.03	Elect Warren B. Rudman			MGMT	YES	FOR	FOR
1.04	Elect James R. Tobin			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Canadian Natural Resources*			*136385101*	*5/5/05*	*Annual*
1.00	Election of directors by slate			MGMT	YES	FOR	FOR
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Approve stock split			MGMT	YES	FOR	FOR

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

*Cardinal Health Inc*		*CAH*	*14149Y108*	*12/8/04*	*Annual*
1.01	Elect George H. Conrades			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert L. Gerbig			MGMT	YES	WHOLD	AGNST
1.03	Elect Richard C. Notebaert			MGMT	YES	WHOLD	AGNST
2.00	Amend Annual Bonus Plan			MGMT	YES	FOR	FOR
3.00	Repeal Classified Board			SHLDR	YES	FOR	AGNST

*Career Education Corp*		*CECO*	*141665109*	*5/20/05*	*Annual*
1.01	Elect Dennis H. Chookaszian			MGMT	NO
	Elect Dennis H. Chookaszian
1.02	Elect Robert E. Dowdell			MGMT	NO
	Elect Robert E. Dowdell
1.03	Elect Patrick K. Pesch			MGMT	NO
	Elect Patrick K. Pesch
2.00	Ratify selection of auditors			MGMT	NO
	Ratify selection of auditors

*Career Education Corp*		*CECO*	*141665109*	*5/20/05*	*Annual*
1.01	Elect Dennis H. Chookaszian			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert E. Dowdell			MGMT	YES	WHOLD	AGNST
1.03	Elect Patrick K. Pesch			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST
4.00	Restore right to call a special meeting			SHLDR	YES	FOR	AGNST
5.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST

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

*Checkfree Corp*		*CKFR*	*162813109*	*10/27/04*	*Annual*
1.01	Elect Peter J. Kight			MGMT	YES	FOR	FOR
1.02	Elect Lewis Levin			MGMT	YES	WHOLD	AGNST
1.03	Elect Jeffrey M. Wilkins			MGMT	YES	FOR	FOR

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

*Chicago Mercantile Exchange Holdings*		*CME*	*167760107*	*4/27/05*	*Annual*
1.01	Elect Craig S. Donohue			MGMT	YES	WHOLD	AGNST
1.02	Elect Terrence A. Duffy			MGMT	YES	WHOLD	AGNST
1.03	Elect Daniel R. Glickman			MGMT	YES	WHOLD	AGNST
1.04	Elect William P. Miller II			MGMT	YES	WHOLD	AGNST
1.05	Elect James E. Oliff			MGMT	YES	WHOLD	AGNST
1.06	Elect John F. Sandner			MGMT	YES	WHOLD	AGNST
1.07	Elect Terry L. Savage			MGMT	YES	WHOLD	AGNST
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

*Cisco Systems Inc*		*CSCO*	*17275R102*	*11/18/04*	*Annual*
1.01	Elect Carol A. Bartz			MGMT	YES	FOR	FOR
1.02	Elect M. Michele Burns			MGMT	YES	FOR	FOR
1.03	Elect Larry R. Carter			MGMT	YES	FOR	FOR
1.04	Elect John T. Chambers			MGMT	YES	FOR	FOR
1.05	Elect James F. Gibbons			MGMT	YES	FOR	FOR
1.06	Elect John L. Hennessy			MGMT	YES	FOR	FOR
1.07	Elect Roderick C. McGeary			MGMT	YES	FOR	FOR
1.08	Elect James C. Morgan			MGMT	YES	FOR	FOR
1.09	Elect John P. Morgridge			MGMT	YES	FOR	FOR
1.10	Elect Donald T. Valentine			MGMT	YES	FOR	FOR
1.11	Elect Steven M. West			MGMT	YES	FOR	FOR
1.12	Elect Jerry Yang			MGMT	YES	WHOLD	AGNST
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Link Executive Pay to Social Criteria			SHLDR	YES	AGNST	FOR

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

*Citrix Systems Inc*		*CTXS*	*177376100*	*5/5/05*	*Annual*
1.01	Elect Murray J. Demo			MGMT	YES	FOR	FOR
1.02	Elect John W. White			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Coach Inc*		*COH*	*189754104*	*11/3/04*	*Annual*
1.01	Elect Joseph Ellis			MGMT	YES	WHOLD	AGNST
1.02	Elect Lew Frankfort			MGMT	YES	FOR	FOR
1.03	Elect Sally Frame Kasaks			MGMT	YES	FOR	FOR
1.04	Elect Gary W. Loveman			MGMT	YES	FOR	FOR
1.05	Elect Irene Miller			MGMT	YES	FOR	FOR
1.06	Elect Keith Monda			MGMT	YES	FOR	FOR
1.07	Elect Michael E. Murphy			MGMT	YES	FOR	FOR
2.00	Adopt Stock Option Plan			MGMT	YES	AGNST	AGNST

*Coca-Cola Co*		KO	*191216100*	*4/19/05*	*Annual*
1.01	Elect Herbert A. Allen			MGMT	YES	WHOLD	AGNST
1.02	Elect Ronald W. Allen			MGMT	YES	WHOLD	AGNST
1.03	Elect Cathleen P. Black			MGMT	YES	WHOLD	AGNST
1.04	Elect Warren E. Buffett			MGMT	YES	WHOLD	AGNST
1.05	Elect Barry Diller			MGMT	YES	WHOLD	AGNST
1.06	Elect Edward Neville Isdell			MGMT	YES	WHOLD	AGNST
1.07	Elect Donald R. Keough			MGMT	YES	WHOLD	AGNST
1.08	Elect Maria Elena Lagomasino			MGMT	YES	WHOLD	AGNST
1.09	Elect Donald F. McHenry			MGMT	YES	WHOLD	AGNST
1.10	Elect Samuel A. Nunn Jr.			MGMT	YES	WHOLD	AGNST
1.11	Elect J. Pedro Reinhard			MGMT	YES	WHOLD	AGNST
1.12	Elect James D. Robinson III			MGMT	YES	WHOLD	AGNST
1.13	Elect Peter V. Ueberroth			MGMT	YES	WHOLD	AGNST
1.14	Elect James B. Williams			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Review operations' impact on local groups			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Golden parachutes			SHLDR	YES	ABSTAIN	AGNST

*Commerce Bancorp Inc*		*CBH*	*200519106*	*5/17/05*	*Annual*
1.01	Elect Vernon W. Hill II			MGMT	YES	FOR	FOR
1.02	Elect Jack R. Bershad			MGMT	YES	FOR	FOR
1.03	Elect Joseph E. Buckelew			MGMT	YES	FOR	FOR
1.04	Elect Donald T. DiFrancesco			MGMT	YES	FOR	FOR
1.05	Elect Morton N. Kerr			MGMT	YES	FOR	FOR
1.06	Elect Steven M. Lewis			MGMT	YES	FOR	FOR
1.07	Elect John K Lloyd			MGMT	YES	FOR	FOR
1.08	Elect George E. Norcross III			MGMT	YES	FOR	FOR
1.09	Elect Daniel J. Ragone			MGMT	YES	FOR	FOR
1.10	Elect William A. Schwartz Jr.			MGMT	YES	FOR	FOR
1.11	Elect Joseph T. Tarquini Jr.			MGMT	YES	FOR	FOR
1.12	Elect Joseph S. Vassalluzzo			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

*Cummins Inc*		*CMI*	*231021106*	*5/10/05*	*Annual*
1.01	Elect Robert J. Darnall			MGMT	YES	FOR	FOR
1.02	Elect John Deutch			MGMT	YES	FOR	FOR
1.03	Elect Alexis M. Herman			MGMT	YES	FOR	FOR
1.04	Elect William I. Miller			MGMT	YES	FOR	FOR
1.05	Elect Georgia R. Nelson			MGMT	YES	FOR	FOR
1.06	Elect Theodore M. Solso			MGMT	YES	FOR	FOR
1.07	Elect Carl Ware			MGMT	YES	FOR	FOR
1.08	Elect J. Lawrence Wilson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	China--adopt code of conduct			SHLDR	YES	AGNST	FOR

*Dell Inc*		*DELL*	*24702R101*	*7/16/04*	*Annual*
1.01	Elect Donald J. Carty			MGMT	YES	FOR	FOR
1.02	Elect Michael S. Dell			MGMT	YES	FOR	FOR
1.03	Elect William H. Gray III			MGMT	YES	FOR	FOR
1.04	Elect Judy C. Lewent			MGMT	YES	FOR	FOR
1.05	Elect Thomas W. Luce III			MGMT	YES	FOR	FOR
1.06	Elect Klaus S. Luft			MGMT	YES	FOR	FOR
1.07	Elect Alex J. Mandl			MGMT	YES	FOR	FOR
1.08	Elect Michael A. Miles			MGMT	YES	FOR	FOR
1.09	Elect Samuel A. Nunn Jr.			MGMT	YES	FOR	FOR
1.10	Elect Kevin B. Rollins			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Expense Stock Options			SHLDR	YES	AGNST	FOR

*Devon Energy Corp*		*DVN*	*25179M103*	*6/8/05*	*Annual*
1.01	Elect John A. Hill			MGMT	YES	FOR	FOR
1.02	Elect William J. Johnson			MGMT	YES	FOR	FOR
1.03	Elect Robert A. Mosbacher Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Long Term Incentive Plan			MGMT	YES	FOR	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

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

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

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

*Du Pont (E I) de Nemours*		DD	*263534109*	*4/27/05*	*Annual*
1.01	Elect Alain J.P. Belda			MGMT	YES	FOR	FOR
1.02	Elect Richard H. Brown			MGMT	YES	FOR	FOR
1.03	Elect Curtis J. Crawford			MGMT	YES	FOR	FOR
1.04	Elect John T. Dillon			MGMT	YES	FOR	FOR
1.05	Elect Louisa C. Duemling			MGMT	YES	FOR	FOR
1.06	Elect Charles O. Holliday Jr.			MGMT	YES	FOR	FOR
1.07	Elect Lois D. Juliber			MGMT	YES	FOR	FOR
1.08	Elect Masahisa Naitoh			MGMT	YES	FOR	FOR
1.09	Elect William K. Reilly			MGMT	YES	FOR	FOR
1.10	Elect H. Rodney Sharp III			MGMT	YES	FOR	FOR
1.11	Elect Charles M. Vest			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Disclose prior government service			SHLDR	YES	AGNST	FOR
4.00	Monitor/adopt ILO conventions			SHLDR	YES	AGNST	FOR
5.00	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR
6.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
7.00	Review or curb bioengineering			SHLDR	YES	AGNST	FOR
8.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
9.00	Report on environmental impact or plans			SHLDR	YES	AGNST	FOR

*Eastman Kodak Co*		EK	*277461109*	*5/11/05*	*Annual*
1.01	Elect Richard S. Braddock			MGMT	YES	FOR	FOR
1.02	Elect Daniel A. Carp			MGMT	YES	FOR	FOR
1.03	Elect Durk I. Jager			MGMT	YES	FOR	FOR
1.04	Elect Debra L. Lee			MGMT	YES	FOR	FOR
1.05	Elect Antonio M. Perez			MGMT	YES	FOR	FOR
1.06	Elect Michael J. Hawley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Omnibus Long-Term Compensation Plan			MGMT	YES	AGNST	AGNST
4.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
5.00	Repeal classified board			MGMT	YES	FOR	FOR
	Eliminate supermajority lock-in
6.00	Elim. supermajority requirement for business trans			MGMT	YES	FOR	FOR
7.00	Approve non-technical charter amendments			MGMT	YES	FOR	FOR

*Ebay Inc*		*EBAY*	*278642103*	*6/23/05*	*Annual*
1.01	Elect Fred D. Anderson			MGMT	YES	FOR	FOR
1.02	Elect Edward W. Barnholt			MGMT	YES	FOR	FOR
1.03	Elect Scott D. Cook			MGMT	YES	FOR	FOR
1.04	Elect Robert C. Kagle			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
6.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Edison International*		*EIX*	*281020107*	*5/19/05*	*Annual*
1.01	Elect John E. Bryson			MGMT	YES	FOR	FOR
1.02	Elect France A. Cordova			MGMT	YES	FOR	FOR
1.03	Elect Bradford M. Freeman			MGMT	YES	FOR	FOR
1.04	Elect Bruce Karatz			MGMT	YES	FOR	FOR
1.05	Elect Luis G. Nogales			MGMT	YES	FOR	FOR
1.06	Elect Ronald L. Olson			MGMT	YES	FOR	FOR
1.07	Elect James M. Rosser			MGMT	YES	FOR	FOR
1.08	Elect Richard T. Schlosberg III			MGMT	YES	FOR	FOR
1.09	Elect Robert H. Smith			MGMT	YES	FOR	FOR
1.10	Elect Thomas C. Sutton			MGMT	YES	FOR	FOR
2.00	Golden parachutes			SHLDR	YES	AGNST	FOR

*EMC Corp*		*EMC*	*268648102*	*5/5/05*	*Annual*
1.01	Elect Michael J. Cronin			MGMT	YES	WHOLD	AGNST
1.02	Elect W. Paul Fitzgerald			MGMT	YES	WHOLD	AGNST
1.03	Elect Joseph M. Tucci			MGMT	YES	WHOLD	AGNST
2.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
4.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
5.00	Increase audit committee independence			SHLDR	YES	FOR	AGNST

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

*Everest Re Group Ltd*		RE	*G3223R108*	*5/25/05*	*Annual*
1.01	Elect Thomas J. Gallagher			MGMT	YES	FOR	FOR
1.02	Elect William F. Galtney Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Amend annual bonus plan			MGMT	YES	FOR	FOR

*Express Scripts Inc*		*ESRX*	*302182100*	*5/25/05*	*Annual*
1.01	Elect Gary G Benanav			MGMT	YES	FOR	FOR
1.02	Elect Frank J. Borelli			MGMT	YES	FOR	FOR
1.03	Elect Maura C Breen			MGMT	YES	FOR	FOR
1.04	Elect Nicholas J. LaHowchic			MGMT	YES	FOR	FOR
1.05	Elect Thomas P. Mac Mahon			MGMT	YES	FOR	FOR
1.06	Elect John O. Parker Jr.			MGMT	YES	FOR	FOR
1.07	Elect George Paz			MGMT	YES	FOR	FOR
1.08	Elect Samuel K. Skinner			MGMT	YES	WHOLD	AGNST
1.09	Elect Seymour Sternberg			MGMT	YES	FOR	FOR
1.10	Elect Barrett A. Toan			MGMT	YES	FOR	FOR
1.11	Elect Howard L. Waltman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*Fair Isaac Corp*		*FIC*	*303250104*	*2/1/05*	*Annual*
1.01	Elect A. George Battle			MGMT	YES	FOR	FOR
1.02	Elect Andrew Cecere			MGMT	YES	FOR	FOR
1.03	Elect Tony J. Christianson			MGMT	YES	FOR	FOR
1.04	Elect Thomas G. Grudnowski			MGMT	YES	FOR	FOR
1.05	Elect Alex W. (Pete) Hart			MGMT	YES	FOR	FOR
1.06	Elect Philip G. Heasley			MGMT	YES	FOR	FOR
1.07	Elect Guy R. Henshaw			MGMT	YES	FOR	FOR
1.08	Elect David S.P. Hopkins			MGMT	YES	FOR	FOR
1.09	Elect Margaret L. Taylor			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Family Dollar Stores*		*FDO*	*307000109*	*1/20/05*	*Annual*
1.01	Elect Mark R. Bernstein			MGMT	YES	FOR	FOR
1.02	Elect Sharon Allred Decker			MGMT	YES	FOR	FOR
1.03	Elect Edward C. Dolby			MGMT	YES	FOR	FOR
1.04	Elect Glenn A. Eisenberg			MGMT	YES	FOR	FOR
1.05	Elect Howard R. Levine			MGMT	YES	FOR	FOR
1.06	Elect George R. Mahoney Jr.			MGMT	YES	FOR	FOR
1.07	Elect James G. Martin			MGMT	YES	FOR	FOR
2.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*Fiserv Inc*		*FISV*	*337738108*	*4/6/05*	*Annual*
1.01	Elect Donald F. Dillon			MGMT	YES	FOR	FOR
1.02	Elect Gerald J. Levy			MGMT	YES	FOR	FOR
1.03	Elect Glenn M. Renwick			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
4.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR

*Fisher Scientific International Inc*		*FSH*	*338032204*	*8/2/04*	*Annual*
1.00	Approve Merger/Acquisition			MGMT	YES	FOR	FOR
	Approve Common Stock Issuance
2.01	Elect Michael D. Dingman			MGMT	YES	FOR	FOR
2.02	Elect Charles A. Sanders			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
4.00	Adjourn Meeting			MGMT	YES	FOR	FOR

*Flextronics International*		*FLEX*	*Y2573F102*	*9/23/04*	*Annual*
1.01	Elect Michael E. Marks			MGMT	YES	FOR	FOR
1.02	Elect Michael Moritz			MGMT	YES	FOR	FOR
2.00	Elect Patrick Foley			MGMT	YES	FOR	FOR
3.00	Appoint Auditors and Set Their Fees			MGMT	YES	FOR	FOR
4.00	Amend Stock Purchase Plan/SAYE/AESOP			MGMT	YES	FOR	FOR
5.00	Amend Stock Option Plan			MGMT	YES	AGNST	AGNST
6.00	Amend Stock Option Plan			MGMT	YES	AGNST	AGNST
7.00	Amend Stock Option Plan			MGMT	YES	FOR	FOR
8.00	Issue Stock w/o Preemptive Rights			MGMT	YES	FOR	FOR
9.00	Approve Directors' Fees			MGMT	YES	FOR	FOR
10.00	Approve Directors' Fees			MGMT	YES	FOR	FOR
11.00	Authorize Share Repurchase			MGMT	YES	FOR	FOR
12.00	Approve Bonus Dividend/Bonus Share Issue			MGMT	YES	FOR	FOR
13.00	Authorize Legal Formalities			MGMT	YES	FOR	FOR

*Forest Laboratories*		*FRX*	*345838106*	*8/11/04*	*Annual*
1.01	Elect Howard Solomon			MGMT	YES	FOR	FOR
1.02	Elect William J. Candee III			MGMT	YES	FOR	FOR
1.03	Elect George S. Cohan			MGMT	YES	FOR	FOR
1.04	Elect Dan L. Goldwasser			MGMT	YES	FOR	FOR
1.05	Elect Lester B. Salans			MGMT	YES	FOR	FOR
1.06	Elect Kenneth E. Goodman			MGMT	YES	FOR	FOR
1.07	Elect Phillip M. Satow			MGMT	YES	FOR	FOR
2.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
3.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR
4.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

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

*Freescale Semiconductor Inc*		*FSL*	*35687M107*	*4/29/05*	*Annual*
1.01	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen P. Kaufman			MGMT	YES	WHOLD	AGNST
2.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical bylaw amendments
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*General Growth Properties Inc*		*GGP*	*370021107*	*5/4/05*	*Annual*
1.01	Elect Matthew Bucksbaum			MGMT	YES	FOR	FOR
1.02	Elect Bernard Freibaum			MGMT	YES	FOR	FOR
1.03	Elect Beth A. Stewart			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Genzyme Corp*		*GENZ*	*372917104*	*5/26/05*	*Annual*
1.01	Elect Robert J. Carpenter			MGMT	YES	FOR	FOR
1.02	Elect Charles L. Cooney			MGMT	YES	FOR	FOR
2.00	Add shares to the 1999 Employee Stock Purchase Plan			MGMT	YES	AGNST	AGNST
3.00	Add shares to the 2004 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Repeal classified board			SHLDR	YES	FOR	AGNST

*GlobalSantaFe Corp*		*GSF*	*G3930E101*	*6/7/05*	*Annual*
1.01	Elect Richard L. George			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert E. Rose			MGMT	YES	WHOLD	AGNST
1.03	Elect Stephen J. Solarz			MGMT	YES	WHOLD	AGNST
1.04	Elect Nader H. Sultan			MGMT	YES	WHOLD	AGNST
2.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Goldman Sachs Group Inc*		GS	*38141G104*	*4/6/05*	*Annual*
1.01	Elect John H. Bryan			MGMT	YES	FOR	FOR
1.02	Elect Stephen Friedman			MGMT	YES	FOR	FOR
1.03	Elect William W. George			MGMT	YES	FOR	FOR
1.04	Elect Henry M. Paulson Jr.			MGMT	YES	FOR	FOR
2.00	Repeal classified board			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Google Inc*		*GOOG*	*38259P508*	*5/12/05*	*Annual*
1.01	Elect Eric E. Schmidt			MGMT	YES	FOR	FOR
1.02	Elect Larry Page			MGMT	YES	FOR	FOR
1.03	Elect Sergey Brin			MGMT	YES	FOR	FOR
1.04	Elect L. John Doerr			MGMT	YES	WHOLD	AGNST
1.05	Elect John L. Hennessy			MGMT	YES	FOR	FOR
1.06	Elect Arthur D. Levinson			MGMT	YES	FOR	FOR
1.07	Elect Michael Moritz			MGMT	YES	FOR	FOR
1.08	Elect Paul S. Otellini			MGMT	YES	FOR	FOR
1.09	Elect K. Ram Shriram			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 2004 Stock Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan

*Guidant Corp*		*GDT*	*401698105*	*4/27/05*	*Special*
1.00	Approve merger/acquisition			MGMT	YES	FOR	FOR

*Halliburton Co*		*HAL*	*406216101*	*5/18/05*	*Annual*
1.01	Elect Robert L. Crandall			MGMT	YES	FOR	FOR
1.02	Elect Kenneth T. Derr			MGMT	YES	FOR	FOR
1.03	Elect S. Malcolm Gillis			MGMT	YES	FOR	FOR
1.04	Elect William R. Howell			MGMT	YES	FOR	FOR
1.05	Elect Ray L. Hunt			MGMT	YES	FOR	FOR
1.06	Elect David J. Lesar			MGMT	YES	FOR	FOR
1.07	Elect J. Landis Martin			MGMT	YES	FOR	FOR
1.08	Elect Jay A. Precourt			MGMT	YES	FOR	FOR
1.09	Elect Debra L. Reed			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Golden parachutes			SHLDR	YES	AGNST	FOR
4.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR

*Harley-Davidson Inc*		*HDI*	*412822108*	*4/30/05*	*Annual*
1.01	Elect George H. Conrades			MGMT	YES	FOR	FOR
1.02	Elect Sara L. Levinson			MGMT	YES	FOR	FOR
1.03	Elect George L. Miles Jr.			MGMT	YES	FOR	FOR
2.00	Approve annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Hartford Financial Services Group Inc*		*HIG*	*416515104*	*5/18/05*	*Annual*
1.01	Elect Ramani Ayer			MGMT	YES	FOR	FOR
1.02	Elect Ronald E. Ferguson			MGMT	YES	FOR	FOR
1.03	Elect Edward J. Kelly III			MGMT	YES	FOR	FOR
1.04	Elect Paul G. Kirk Jr.			MGMT	YES	FOR	FOR
1.05	Elect Thomas M. Marra			MGMT	YES	FOR	FOR
1.06	Elect Gail J. McGovern			MGMT	YES	FOR	FOR
1.07	Elect Michael G. Morris			MGMT	YES	FOR	FOR
1.08	Elect Robert W. Selander			MGMT	YES	FOR	FOR
1.09	Elect Charles B. Strauss			MGMT	YES	FOR	FOR
1.10	Elect H. Patrick Swygert			MGMT	YES	FOR	FOR
1.11	Elect David K. Zwiener			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Incentive Stock Plan			MGMT	YES	FOR	FOR
4.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR

*HCA Inc*		*HCA*	*404119109*	*5/26/05*	*Annual*
1.01	Elect C. Michael Armstrong			MGMT	YES	FOR	FOR
1.02	Elect Magdalena H. Averhoff			MGMT	YES	FOR	FOR
1.03	Elect Jack O. Bovender Jr.			MGMT	YES	FOR	FOR
1.04	Elect Richard M. Bracken			MGMT	YES	FOR	FOR
1.05	Elect Martin S. Feldstein			MGMT	YES	FOR	FOR
1.06	Elect Thomas F. Frist Jr.			MGMT	YES	FOR	FOR
1.07	Elect Frederick W. Gluck			MGMT	YES	FOR	FOR
1.08	Elect Glenda A. Hatchett			MGMT	YES	FOR	FOR
1.09	Elect Charles O. Holliday Jr.			MGMT	YES	FOR	FOR
1.10	Elect T. Michael Long			MGMT	YES	FOR	FOR
1.11	Elect John H. McArthur			MGMT	YES	FOR	FOR
1.12	Elect Kent C. Nelson			MGMT	YES	FOR	FOR
1.13	Elect Frank S. Royal			MGMT	YES	WHOLD	AGNST
1.14	Elect Harold T. Shapiro			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Equity Incentive Plan			MGMT	YES	AGNST	AGNST

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

*Home Depot Inc*		HD	*437076102*	*5/26/05*	*Annual*
1.01	Elect Gregory D. Brenneman			MGMT	YES	FOR	FOR
1.02	Elect Richard H. Brown			MGMT	YES	FOR	FOR
1.03	Elect John L. Clendenin			MGMT	YES	FOR	FOR
1.04	Elect Berry R. Cox			MGMT	YES	FOR	FOR
1.05	Elect Claudio X. Gonzalez Laporte			MGMT	YES	WHOLD	AGNST
1.06	Elect Milledge A. Hart III			MGMT	YES	FOR	FOR
1.07	Elect Bonnie Guiton Hill			MGMT	YES	WHOLD	AGNST
1.08	Elect Laban P. Jackson Jr.			MGMT	YES	FOR	FOR
1.09	Elect Lawrence R. Johnston			MGMT	YES	FOR	FOR
1.10	Elect Kenneth G. Langone			MGMT	YES	FOR	FOR
1.11	Elect Robert L. Nardelli			MGMT	YES	FOR	FOR
1.12	Elect Thomas J. Ridge			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt advance notice requirement			MGMT	YES	FOR	FOR
4.00	Adopt the 2005 Omnibus Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Report on EEO			SHLDR	YES	AGNST	FOR
6.00	Majority vote to elect directors			SHLDR	YES	AGNST	FOR
7.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
8.00	Golden parachutes			SHLDR	YES	AGNST	FOR
9.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
10.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR
11.00	Affirm political nonpartisanship			SHLDR	YES	AGNST	FOR

*Humana Inc*		*HUM*	*444859102*	*4/26/05*	*Annual*
1.01	Elect David A. Jones Jr.			MGMT	YES	FOR	FOR
1.02	Elect Frank A. D'Amelio			MGMT	YES	FOR	FOR
1.03	Elect Roy W. Dunbar			MGMT	YES	FOR	FOR
1.04	Elect John R. Hall			MGMT	YES	FOR	FOR
1.05	Elect Kurt J. Hilzinger			MGMT	YES	FOR	FOR
1.06	Elect Michael B. McCallister			MGMT	YES	FOR	FOR
1.07	Elect W. Ann Reynolds			MGMT	YES	FOR	FOR

*Ingram Micro Inc*		IM	*457153104*	*6/1/05*	*Annual*
1.01	Elect Kent B. Foster			MGMT	YES	FOR	FOR
1.02	Elect Howard I. Atkins			MGMT	YES	FOR	FOR
1.03	�� Elect Martha R. Ingram			MGMT	YES	FOR	FOR
1.04	Elect Linda Fayne Levinson			MGMT	YES	FOR	FOR
1.05	Elect Kevin M. Murai			MGMT	YES	FOR	FOR
1.06	Elect Gregory M.E. Spierkel			MGMT	YES	FOR	FOR

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

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

*Investors Financial Services Corp*		*IFIN*	*461915100*	*4/14/05*	*Annual*
1.01	Elect Phyllis S. Swersky			MGMT	YES	FOR	FOR
1.02	Elect Edward F. Hines Jr.			MGMT	YES	WHOLD	AGNST
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*ITT Industries Inc*		*ITT*	*450911102*	*5/10/05*	*Annual*
1.01	Elect Steven R. Loranger			MGMT	YES	FOR	FOR
1.02	Elect Curtis J. Crawford			MGMT	YES	FOR	FOR
1.03	Elect Christina A. Gold			MGMT	YES	FOR	FOR
1.04	Elect Ralph F. Hake			MGMT	YES	FOR	FOR
1.05	Elect John J. Hamre			MGMT	YES	FOR	FOR
1.06	Elect Raymond W. LeBoeuf			MGMT	YES	FOR	FOR
1.07	Elect Frank T. MacInnis			MGMT	YES	FOR	FOR
1.08	Elect Linda S. Sanford			MGMT	YES	FOR	FOR
1.09	Elect Markos I. Tambakeras			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR

*Jabil Circuit Inc*		*JBL*	*466313103*	*1/20/05*	*Annual*
1.01	Elect William D. Morean			MGMT	YES	FOR	FOR
1.02	Elect Thomas A. Sansone			MGMT	YES	FOR	FOR
1.03	Elect Timothy L. Main			MGMT	YES	FOR	FOR
1.04	Elect Lawrence J. Murphy			MGMT	YES	FOR	FOR
1.05	Elect Mel S. Lavitt			MGMT	YES	FOR	FOR
1.06	Elect Steven A. Raymund			MGMT	YES	FOR	FOR
1.07	Elect Frank A. Newman			MGMT	YES	FOR	FOR
1.08	Elect Laurence S. Grafstein			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*JetBlue Airways Corp*		*JBLU*	*477143101*	*5/18/05*	*Annual*
1.01	Elect Michael Lazarus			MGMT	YES	FOR	FOR
1.02	Elect David Neeleman			MGMT	YES	FOR	FOR
1.03	Elect Frank Sica			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*Kohl's Corp*		*KSS*	*500255104*	*4/27/05*	*Annual*
1.01	Elect James D. Ericson			MGMT	YES	FOR	FOR
1.02	Elect William S. Kellogg			MGMT	YES	WHOLD	AGNST
1.03	Elect Arlene Meier			MGMT	YES	WHOLD	AGNST
1.04	Elect R. Elton White			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST
4.00	Golden parachutes			SHLDR	YES	AGNST	FOR

*Laboratory Corp of America Holdings*		LH	*50540R409*	*5/18/05*	*Annual*
1.01	Elect Thomas P. Mac Mahon			MGMT	YES	FOR	FOR
1.02	Elect Jean-Luc Belingard			MGMT	YES	FOR	FOR
1.03	Elect Wendy E. Lane			MGMT	YES	FOR	FOR
1.04	Elect Robert E. Mittelstaedt Jr.			MGMT	YES	FOR	FOR
1.05	Elect Arthur H. Rubenstein			MGMT	YES	FOR	FOR
1.06	Elect Andrew G. Wallace			MGMT	YES	FOR	FOR
1.07	Elect M. Keith Weikel			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Las Vegas Sands Corp*		*LVS*	*517834107*	*6/9/05*	*Annual*
1.01	Elect Charles D. Forman			MGMT	YES	WHOLD	AGNST
1.02	Elect Irwin A. Siegel			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

*Lexmark International Inc*		*LXK*	*529771107*	*4/28/05*	*Annual*
1.01	Elect B. Charles Ames			MGMT	YES	FOR	FOR
1.02	Elect Ralph E. Gomory			MGMT	YES	FOR	FOR
1.03	Elect Marvin L. Mann			MGMT	YES	WHOLD	AGNST
1.04	Elect Teresa Beck			MGMT	YES	FOR	FOR
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*Linear Technology Corp*		*LLTC*	*535678106*	*11/3/04*	*Annual*
1.01	Elect Robert H. Swanson Jr.			MGMT	YES	FOR	FOR
1.02	Elect David S. Lee			MGMT	YES	FOR	FOR
1.03	Elect Leo T. McCarthy			MGMT	YES	FOR	FOR
1.04	Elect Richard M. Moley			MGMT	YES	FOR	FOR
1.05	Elect Thomas S. Volpe			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

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

*Lowe's Companies Inc*		*LOW*	*548661107*	*5/27/05*	*Annual*
1.01	Elect Robert Alexander Ingram			MGMT	YES	WHOLD	AGNST
1.02	Elect Richard K. Lochridge			MGMT	YES	FOR	FOR
1.03	Elect Robert L. Johnson			MGMT	YES	FOR	FOR
2.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

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

*McGraw-Hill Companies Inc*		*MHP*	*580645109*	*4/27/05*	*Annual*
1.01	Elect Winfried Bischoff			MGMT	YES	FOR	FOR
1.02	Elect Douglas N. Daft			MGMT	YES	FOR	FOR
1.03	Elect Linda Koch Lorimer			MGMT	YES	FOR	FOR
1.04	Elect Harold W. McGraw III			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
5.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST

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

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

*Medtronic Inc*		*MDT*	*585055106*	*8/26/04*	*Annual*
1.01	Elect William R. Brody			MGMT	YES	WHOLD	AGNST
1.02	Elect Arthur D. Collins Jr.			MGMT	YES	FOR	FOR
1.03	Elect Antonio M. Gotto Jr.			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Limit or End Charitable Giving			SHLDR	YES	AGNST	FOR

*Merck & Co*		*MRK*	*589331107*	*4/26/05*	*Annual*
1.01	Elect Rochelle B. Lazarus			MGMT	YES	FOR	FOR
1.02	Elect William G. Bowen			MGMT	YES	FOR	FOR
1.03	Elect Raymond V. Gilmartin			MGMT	YES	FOR	FOR
1.04	Elect Thomas E. Shenk			MGMT	YES	FOR	FOR
1.05	Elect Anne M. Tatlock			MGMT	YES	FOR	FOR
1.06	Elect Samuel O. Thier			MGMT	YES	FOR	FOR
1.07	Elect Wendell P. Weeks			MGMT	YES	FOR	FOR
1.08	Elect Peter C. Wendell			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
4.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
5.00	Review or promote animal welfare			SHLDR	YES	AGNST	FOR
6.00	Independent board chairman			SHLDR	YES	AGNST	FOR
7.00	Review drug pricing or distribution			SHLDR	YES	AGNST	FOR
8.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
9.00	Review AIDS pandemic's impact on company			SHLDR	YES	AGNST	FOR

*Michaels Stores Inc*		*MIK*	*594087108*	*6/16/05*	*Annual*
1.01	Elect Charles J. Wyly Jr.			MGMT	YES	FOR	FOR
1.02	Elect Sam Wyly			MGMT	YES	FOR	FOR
1.03	Elect Richard E. Hanlon			MGMT	YES	FOR	FOR
1.04	Elect Richard C. Marcus			MGMT	YES	FOR	FOR
1.05	Elect Liz Minyard			MGMT	YES	FOR	FOR
1.06	Elect Cece Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Incentive Compensation Plan			MGMT	YES	AGNST	AGNST

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

*Molson Coors Brewing Co*		*TAP*	*60871R209*	*5/11/05*	*Annual*
1.11	Elect John E. Cleghorn			MGMT	YES	WHOLD	AGNST
1.12	Elect Charles M. Herington			MGMT	YES	WHOLD	AGNST
1.13	Elect David P. O'Brien			MGMT	YES	WHOLD	AGNST

*Nextel Partners*			*65333FAP2*	*5/12/05*	*Annual*
1.01	Elect Adam M. Aron			MGMT	YES	FOR	FOR
1.02	Elect John Chapple			MGMT	YES	FOR	FOR
1.03	Elect Steven B. Dodge			MGMT	YES	FOR	FOR
1.04	Elect Timothy M. Donahue			MGMT	YES	FOR	FOR
1.05	Elect Arthur W. HarriganJr.			MGMT	YES	FOR	FOR
1.06	Elect James N. Perry			MGMT	YES	FOR	FOR
1.07	Elect Caroline H. Rapking			MGMT	YES	FOR	FOR
1.08	Elect Dennis M. Weibling			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*North Fork Bancorporation*		*NFB*	*659424105*	*8/31/04*	*Special*
1.00	Approve Merger/Acquisition			MGMT	YES	FOR	FOR
	Approve Common Stock Issuance

*NVR Inc*		*NVR*	*62944T105*	*5/4/05*	*Annual*
1.01	Elect Dwight C. Schar			MGMT	YES	FOR	FOR
1.02	Elect Robert C. Butler			MGMT	YES	FOR	FOR
1.03	Elect George E. Slye			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR

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

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

*Overseas Shipholding Group*		*OSG*	*690368105*	*6/7/05*	*Annual*
1.01	Elect Morton Arntzen			MGMT	YES	FOR	FOR
1.02	Elect Oudi Recanati			MGMT	YES	FOR	FOR
1.03	Elect G. Allen Andreas III			MGMT	YES	FOR	FOR
1.04	Elect Alan R. Batkin			MGMT	YES	WHOLD	AGNST
1.05	Elect Thomas B. Coleman			MGMT	YES	FOR	FOR
1.06	Elect Charles Fribourg			MGMT	YES	FOR	FOR
1.07	Elect Stanley Komaroff			MGMT	YES	FOR	FOR
1.08	Elect Solomon N. Merkin			MGMT	YES	FOR	FOR
1.09	Elect Joel I. Picket			MGMT	YES	FOR	FOR
1.10	Elect Ariel Recanati			MGMT	YES	FOR	FOR
1.11	Elect Thomas F. Robards			MGMT	YES	FOR	FOR
1.12	Elect Michael J. Zimmerman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*PacifiCare Health Systems*		*PHS*	*695112102*	*5/19/05*	*Annual*
1.01	Elect Aida Alvarez			MGMT	YES	FOR	FOR
1.02	Elect Bradly C. Call			MGMT	YES	FOR	FOR
1.03	Elect Terry O. Hartshorn			MGMT	YES	FOR	FOR
1.04	Elect Dominic Ng			MGMT	YES	FOR	FOR
1.05	Elect Howard G. Phanstiel			MGMT	YES	FOR	FOR
1.06	Elect Warren E. Pinckert II			MGMT	YES	FOR	FOR
1.07	Elect David A. Reed			MGMT	YES	FOR	FOR
1.08	Elect Charles R. Rinehart			MGMT	YES	FOR	FOR
1.09	Elect Linda Rosenstock			MGMT	YES	FOR	FOR
1.10	Elect Lloyd E. Ross			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

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

*Procter & Gamble Co*		PG	*742718109*	*10/12/04*	*Annual*
1.01	Elect R. Kerry Clark			MGMT	YES	FOR	FOR
1.02	Elect Joseph T. Gorman			MGMT	YES	FOR	FOR
1.03	Elect Lynn M. Martin			MGMT	YES	FOR	FOR
1.04	Elect Ralph Snyderman			MGMT	YES	FOR	FOR
1.05	Elect Robert D. Storey			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
4.00	Repeal Classified Board			MGMT	YES	AGNST	FOR
5.00	Review or Promote Animal Welfare			SHLDR	YES	AGNST	FOR

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

*Ross Stores Inc*		*ROST*	*778296103*	*5/19/05*	*Annual*
1.01	Elect Stuart G. Moldaw			MGMT	YES	FOR	FOR
1.02	Elect George P. Orban			MGMT	YES	FOR	FOR
1.03	Elect Donald H. Seiler			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Royal Caribbean Cruises Ltd*		*RCL*	*V7780T103*	*5/17/05*	*Annual*
1.01	Elect Laura Laviada			MGMT	YES	AGNST	AGNST
1.02	Elect Eyal Ofer			MGMT	YES	AGNST	AGNST
1.03	Elect William K. Reilly			MGMT	YES	AGNST	AGNST
1.04	Elect Arne Alexander Wilhelmsen			MGMT	YES	AGNST	AGNST
2.00	Appoint outside auditors			MGMT	YES	FOR	FOR

*Sabre Holdings Corp*		*TSG*	*785905100*	*5/17/05*	*Annual*
1.01	Elect Michael S. Gilliland			MGMT	YES	FOR	FOR
1.02	Elect Bob L. Martin			MGMT	YES	FOR	FOR
1.03	Elect Richard L. Thomas			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			MGMT	YES	FOR	FOR
4.00	Approve non-technical charter amendments			MGMT	YES	ABSTAIN	AGNST
5.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*SanDisk Corp*		*SNDK*	*80004C101*	*5/27/05*	*Annual*
1.01	Elect Dr.Eli Harari			MGMT	YES	FOR	FOR
1.02	Elect Irwin Federman			MGMT	YES	FOR	FOR
1.03	Elect Catherine P. Lego			MGMT	YES	FOR	FOR
1.04	Elect Michael E. Marks			MGMT	YES	FOR	FOR
1.05	Elect Dr.James D. Meindl			MGMT	YES	FOR	FOR
1.06	Elect Alan F. Shugart			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the 2005 Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*SBC Communications Inc*		*SBC*	*78387G103*	*4/29/05*	*Annual*
1.01	Elect Gilbert F. Amelio			MGMT	YES	FOR	FOR
1.02	Elect August A. Busch III			MGMT	YES	FOR	FOR
1.03	Elect Martin K. Eby Jr.			MGMT	YES	FOR	FOR
1.04	Elect James A. Henderson			MGMT	YES	FOR	FOR
1.05	Elect Charles F. Knight			MGMT	YES	FOR	FOR
1.06	Elect Lynn M. Martin			MGMT	YES	FOR	FOR
1.07	Elect John B. McCoy			MGMT	YES	FOR	FOR
1.08	Elect Mary S. Metz			MGMT	YES	FOR	FOR
1.09	Elect Toni Rembe			MGMT	YES	FOR	FOR
1.10	Elect S. Donley Ritchey			MGMT	YES	FOR	FOR
1.11	Elect Joyce M. Roche			MGMT	YES	FOR	FOR
1.12	Elect Laura D'Andrea Tyson			MGMT	YES	FOR	FOR
1.13	Elect Patricia P. Upton			MGMT	YES	FOR	FOR
1.14	Elect Edward E. Whitacre Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
4.00	Review political spending or lobbying			SHLDR	YES	AGNST	FOR
5.00	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
7.00	Eliminate supermajority provision			SHLDR	YES	FOR	AGNST

*Sealed Air Corp*		*SEE*	*81211K100*	*5/20/05*	*Annual*
1.01	Elect Hank Brown			MGMT	YES	FOR	FOR
1.02	Elect Michael Chu			MGMT	YES	FOR	FOR
1.03	Elect Lawrence R. Codey			MGMT	YES	FOR	FOR
1.04	Elect T.J. Dermot Dunphy			MGMT	YES	FOR	FOR
1.05	Elect Charles F. Farrell Jr.			MGMT	YES	FOR	FOR
1.06	Elect William V. Hickey			MGMT	YES	FOR	FOR
1.07	Elect Jacqueline B. Kosecoff			MGMT	YES	FOR	FOR
1.08	Elect Kenneth P. Manning			MGMT	YES	FOR	FOR
1.09	Elect William J. Marino			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Contingent Stock Plan			MGMT	YES	FOR	FOR
3.00	Amend annual bonus plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

*Sierra Pacific Resources*		*SRP*	*826428104*	*5/2/05*	*Annual*
1.01	Elect Joseph B. Anderson Jr.			MGMT	YES	FOR	FOR
1.02	Elect Krestine M. Corbin			MGMT	YES	FOR	FOR
1.03	Elect Philip G. Satre			MGMT	YES	FOR	FOR
1.04	Elect Clyde T. Turner			MGMT	YES	FOR	FOR
2.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST

*Southwest Airlines*		*LUV*	*844741108*	*5/18/05*	*Annual*
1.01	Elect Colleen C. Barrett			MGMT	YES	FOR	FOR
1.02	Elect Gary C. Kelly			MGMT	YES	FOR	FOR
1.03	Elect John T. Montford			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*St Jude Medical Inc*		*STJ*	*790849103*	*5/11/05*	*Annual*
1.01	Elect Richard R. Devenuti			MGMT	YES	FOR	FOR
1.02	Elect Stuart M. Essig			MGMT	YES	FOR	FOR
1.03	Elect Thomas H. Garrett III			MGMT	YES	FOR	FOR
1.04	Elect Wendy L. Yarno			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Limit non-audit fees			SHLDR	YES	AGNST	FOR

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

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

*Staples Inc*		*SPLS*	*855030102*	*6/13/05*	*Annual*
1.01	Elect Brenda C. Barnes			MGMT	YES	FOR	FOR
	Elect Brenda C. Barnes
1.02	Elect Mary Elizabeth Burton			MGMT	YES	FOR	FOR
	Elect Mary Elizabeth Burton
1.03	Elect Richard J. Currie			MGMT	YES	FOR	FOR
	Elect Richard J. Currie
1.04	Elect Rowland T. Moriarty			MGMT	YES	FOR	FOR
	Elect Rowland T. Moriarty
2.00	Add shares to the 2004 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
	Add shares to the 2004 Stock Incentive Plan
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
	Ratify selection of auditors
4.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST
	SP-Redeem or vote on poison pill

*Starbucks Corp*		*SBUX*	*855244109*	*2/9/05*	*Annual*
1.01	Elect Barbara Bass			MGMT	YES	FOR	FOR
1.02	Elect Mellody Hobson			MGMT	YES	FOR	FOR
1.03	Elect Olden Lee			MGMT	YES	FOR	FOR
1.04	Elect Howard Schultz			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
4.00	Review global labor practices			SHLDR	YES	AGNST	FOR

*Station Casinos Inc*		*STN*	*857689103*	*5/18/05*	*Annual*
1.01	Elect Frank J. Fertitta III			MGMT	NO
1.02	Elect Lee S. Isgur			MGMT	NO
2.00	Adopt the Stock Compensation Plan			MGMT	NO
3.00	Ratify selection of auditors			MGMT	NO
4.00	Eliminate supermajority provision			SHLDR	NO
5.00	Repeal classified board			SHLDR	NO
6.00	Redeem or vote on poison pill			SHLDR	NO

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

*Symantec Corp*		*SYMC*	*871503108*	*6/24/05*	*Special*
1.00	Approve merger/acquisition			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR
3.00	Adjourn meeting			MGMT	YES	FOR	FOR

*Time Warner Inc*			*887317105*	*5/20/05*	*Annual*
1.01	Elect James L. Barksdale			MGMT	YES	FOR	FOR
1.02	Elect Stephen F. Bollenbach			MGMT	YES	FOR	FOR
1.03	Elect Stephen M. Case			MGMT	YES	FOR	FOR
1.04	Elect Frank J. Caufield			MGMT	YES	FOR	FOR
1.05	Elect Robert C. Clark			MGMT	YES	FOR	FOR
1.06	Elect Jessica P. Einhorn			MGMT	YES	FOR	FOR
1.07	Elect Miles R. Gilburne			MGMT	YES	FOR	FOR
1.08	Elect Carla A. Hills			MGMT	YES	FOR	FOR
1.09	Elect Reuben Mark			MGMT	YES	FOR	FOR
1.10	Elect Michael A. Miles			MGMT	YES	WHOLD	AGNST
1.11	Elect Kenneth J. Novack			MGMT	YES	FOR	FOR
1.12	Elect Richard D. Parsons			MGMT	YES	FOR	FOR
1.13	Elect Robert E. Turner			MGMT	YES	FOR	FOR
1.14	Elect Francis T. Vincent Jr.			MGMT	YES	FOR	FOR
1.15	Elect Deborah C. Wright			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Link executive pay to social criteria			SHLDR	YES	AGNST	FOR

*Triad Hospitals Inc*		*TRI*	*89579K109*	*5/24/05*	*Annual*
1.01	Elect Michael J. Parsons			MGMT	YES	FOR	FOR
1.02	Elect Thomas G. Loeffler			MGMT	YES	FOR	FOR
1.03	Elect Uwe E. Reinhardt			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the Amended and Restated 1999 Long-Term Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Adopt the Amended and Restated Management Stock Purchase Plan			MGMT	YES	AGNST	AGNST

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

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

*United Technologies Corp*		*UTX*	*913017109*	*4/13/05*	*Annual*
1.01	Elect George David			MGMT	YES	FOR	FOR
1.02	Elect Jean-Pierre Garnier			MGMT	YES	FOR	FOR
1.03	Elect Jamie S. Gorelick			MGMT	YES	FOR	FOR
1.04	Elect Charles R. Lee			MGMT	YES	FOR	FOR
1.05	Elect Richard D. McCormick			MGMT	YES	FOR	FOR
1.06	Elect Harold W. McGraw III			MGMT	YES	FOR	FOR
1.07	Elect Frank P. Popoff			MGMT	YES	FOR	FOR
1.08	Elect H. Patrick Swygert			MGMT	YES	FOR	FOR
1.09	Elect Andre Villeneuve			MGMT	YES	FOR	FOR
1.10	Elect Harold A. Wagner			MGMT	YES	FOR	FOR
1.11	Elect Christine Todd Whitman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Disclose executive compensation			SHLDR	YES	AGNST	FOR
5.00	Review military contracting criteria			SHLDR	YES	AGNST	FOR
6.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

*UnitedHealth Group Inc*		*UNH*	*91324P102*	*5/3/05*	*Annual*
1.01	Elect Thomas H. Kean			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert L. Ryan			MGMT	YES	FOR	FOR
1.03	Elect William G. Spears			MGMT	YES	FOR	FOR
1.04	Elect Gail R. Wilensky			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR
4.00	Award performance-based stock options			SHLDR	YES	AGNST	FOR

*VERITAS Software Co*		*VRTS*	*923436109*	*8/25/04*	*Annual*
1.01	Elect Michael A. Brown			MGMT	YES	FOR	FOR
1.02	Elect Kurt J. Lauk			MGMT	YES	FOR	FOR
1.03	Elect Fred van den Bosch			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Option Plan			MGMT	YES	FOR	FOR
	Amend Stock Option Plan
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

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

*Vulcan Materials Co*		*VMC*	*929160109*	*5/13/05*	*Annual*
1.01	Elect Livio D. DeSimone			MGMT	YES	FOR	FOR
1.02	Elect Philip J. Carroll Jr.			MGMT	YES	FOR	FOR
1.03	Elect Donald M. James			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*WellPoint Inc*		*WLP*	*94973V107*	*5/10/05*	*Annual*
1.01	Elect William H.T. Bush			MGMT	YES	FOR	FOR
1.02	Elect Warren Y. Jobe			MGMT	YES	FOR	FOR
1.03	Elect William G. Mays			MGMT	YES	FOR	FOR
1.04	Elect Donald W. Riegle Jr.			MGMT	YES	FOR	FOR
1.05	Elect William J. Ryan			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Restrict executive compensation			SHLDR	YES	AGNST	FOR

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

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

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

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

*Yahoo Inc*		*YHOO*	*984332106*	*5/19/05*	*Annual*
1.01	Elect Terry S. Semel			MGMT	YES	FOR	FOR
1.02	Elect Jerry Yang			MGMT	YES	FOR	FOR
1.03	Elect Roy J. Bostock			MGMT	YES	FOR	FOR
1.04	Elect Ronald W. Burkle			MGMT	YES	FOR	FOR
1.05	Elect Eric Hippeau			MGMT	YES	FOR	FOR
1.06	Elect Arthur H. Kern			MGMT	YES	FOR	FOR
1.07	Elect Robert A. Kotick			MGMT	YES	FOR	FOR
1.08	Elect Edward R. Kozel			MGMT	YES	FOR	FOR
1.09	Elect Gary L. Wilson			MGMT	YES	FOR	FOR
2.00	Add shares to the 1995 Stock Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
3.00	Amend Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

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

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

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

SIGNATURES:

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


Putnam Investors Fund
- -------------------------------------------------------------------------
       (Registrant)


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


Date July 28, 2005

Putnam Investors Fund N-PXAnnual report of proxy voting record