Prudential Jennison Natural Resources 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 811-05206

Jennison Natural Resources Fund, Inc.

(Exact name of registrant as specified in charter)

100 Mulberry Street, Gateway Center Three, 4^th Floor, Newark, NJ 07102

(Address of principal executive offices) (Zip Code)

Jonathan D. Shain, Esq.

100 Mulberry Street, Gateway Center Three, 4^th Floor, Newark, NJ 07102

(Name and address of agent for service)

Registrant’s telephone number, including area code: 973-802-6469

Date of fiscal year-end: May 31, 2005

Date of reporting period: June 30, 2005

Item 1. Proxy Voting Record

In determining votes against management, any ballot that management did not make a recommendation is considered to be ‘FOR’ regardless of the vote cast. Any ‘Abstain’ vote cast is considered as voted, and to be against the management recommendation.

Form N-PX Proxy Voting Record 7/1/2004—9/30/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: Jennison Natural Resources Fund, Inc.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Aluminum Corporation of China

ACH

022276109

9/28/2004

Special

Adviser: Jennison Associates

1.00 Elect Directors

MGMT

YES

FOR

Century Aluminum Co

CENX

156431108

7/16/2004

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

2.00 Adopt Stock Incentive Plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Companhia Vale do Rio Doce

RIO

204412209

8/18/2004

Special

Adviser: Jennison Associates

1.00 Approve stock split

MGMT

YES

FOR

2.00 Elect statutory auditors

MGMT

YES

AGNST

3.00 Approve directors’ fees

MGMT

YES

FOR

DRDGOLD Ltd

DROOY

26152H103

9/28/2004

Special

Adviser: Jennison Associates

1.00 Authorize creation of preferred stock

MGMT

YES

FOR

2.00 Convert one form of stock to another

MGMT

YES

FOR

3.00 Approve Share Issue Rules

MGMT

YES

AGNST

4.00 Issue stock w/o preemptive rights

MGMT

YES

AGNST

5.00 Issue stock w/o preemptive rights

MGMT

YES

AGNST

6.00 Issue stock w/ or w/o preemptive rights

MGMT

YES

AGNST

Page 1 of 42

Form N-PX Proxy Voting Record 7/1/2004—9/30/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Evergreen Resources

EVG

299900308

9/28/2004

Special

Adviser: Jennison Associates

1.00 Approve merger/acquisition

MGMT

YES

FOR

2.00 Adjourn meeting

MGMT

YES

FOR

Pioneer Natural Resources Co

PXD

723787107

9/28/2004

Special

Adviser: Jennison Associates

1.00 Approve merger/acquisition

MGMT

YES

FOR

2.00 Adjourn meeting

MGMT

YES

FOR

SouthernEra Resources, LTD

N/A

843901109

7/27/2004

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

2.00 Appoint Auditors and Set Their Fees

MGMT

YES

FOR

3.00 Amend Stock Option Plan

MGMT

YES

FOR

4.00 Adopt Poison-Pill-Style Defense

MGMT

YES

FOR

5.00 Approve Stock Option Plan

MGMT

YES

FOR

6.00 Adopt Poison-Pill-Style Defense

MGMT

YES

FOR

7.00 Approve Restructuring/Recapitalization

MGMT

YES

FOR

Page 2 of 42

Form N-PX Proxy Voting Record 7/1/2004—9/30/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Cœur d’Alene Mines Corp

CDE

192108108

9/30/2004

Special

Adviser: Jennison Associates

1.00 Approve Restructuring

MGMT

YES

FOR

2.00 Approve Common Stock Issuance

MGMT

YES

FOR

3.00 Adjourn Meeting

MGMT

YES

FOR

Endeavour International Corp

N/A

29259G101

8/24/2004

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

2.00 Adopt Stock Incentive Plan

MGMT

YES

FOR

Stornoway Diamond Corp

N/A

862225109

8/19/2004

Annual

Adviser: Jennison Associates

1.00 Amend Board/Supervisory Board Size

MGMT

YES

FOR

2.00 Elect Directors

MGMT

YES

FOR

3.00 Elect Directors

MGMT

YES

FOR

4.00 Elect Directors

MGMT

YES

FOR

5.00 Appoint Outside Auditors

MGMT

YES

FOR

6.00 Set Auditors Fees

MGMT

YES

FOR

7.00 Approve Stock Option Plan

MGMT

YES

FOR

8.00 Amend Articles — Technical

MGMT

YES

FOR

9.00 Authorize Legal Formalities

MGMT

YES

FOR

Page 3 of 42

Form N-PX Proxy Voting Record 10/1/2004—12/31/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG
DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Arizona Star Resource Corp

N/A

04059G106

12/16/2004

Annual

Adviser: Jennison Associates

1.00 Set board/supervisory board size limits

MGMT

YES

FOR

2.01 Election of Directors by Nominee

MGMT

YES

FOR

2.02 Election of Directors by Nominee

MGMT

YES

FOR

2.03 Election of Directors by Nominee

MGMT

YES

FOR

2.04 Election of Directors by Nominee

MGMT

YES

FOR

2.05 Election of Directors by Nominee

MGMT

YES

FOR

2.06 Election of Directors by Nominee

MGMT

YES

FOR

3.00 Appoint auditors and set their fees

MGMT

YES

FOR

Page 4 of 42

Form N-PX Proxy Voting Record 10/1/2004—12/31/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG
DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Canico Resource Corporation

N/A

137580106

12/10/2004

Annual

Adviser: Jennison Associates

1.00 Set Board/Supervisory Board Size Limits

MGMT

YES

FOR

2.00 Election of Directors by Nominee

MGMT

YES

WHOLD

AGNST

3.00 Election of Directors by Nominee

MGMT

YES

FOR

4.00 Election of Directors by Nominee

MGMT

YES

FOR

5.00 Election of Directors by Nominee

MGMT

YES

FOR

6.00 Election of Directors by Nominee

MGMT

YES

FOR

7.00 Election of Directors by Nominee

MGMT

YES

FOR

8.00 Election of Directors by Nominee

MGMT

YES

FOR

9.00 Election of Directors by Nominee

MGMT

YES

FOR

10.00 Election of Directors by Nominee

MGMT

YES

FOR

11.00 Appoint Outside Auditors

MGMT

YES

FOR

12.00 Set Auditors Fees

MGMT

YES

AGNST

13.00 Amend Supermajority Requirement

MGMT

YES

FOR

14.00 Amend Articles - Technical

MGMT

YES

AGNST

15.00 Increase Authorized Capital

MGMT

YES

AGNST

16.00 Amend Stock Option Plan

MGMT

YES

AGNST

17.00 Issue Stock w/o Preemptive Rights

MGMT

YES

AGNST

Page 5 of 42

Form N-PX Proxy Voting Record 10/1/2004—12/31/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG
DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

DRDGOLD Ltd

DROOY

26152H103

11/26/2004

Annual

Adviser: Jennison Associates

1.00 Approve financial statements

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.01 Elect Directors

MGMT

YES

FOR

3.02 Elect Directors

MGMT

YES

FOR

3.03 Elect Directors

MGMT

YES

FOR

3.04 Elect Directors

MGMT

YES

FOR

4.00 Issue stock w/ or w/o preemptive rights

MGMT

YES

FOR

5.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

6.00 Amend stock option plan

MGMT

YES

FOR

7.00 Amend stock option plan

MGMT

YES

AGNST

8.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

9.00 Approve stock option grant

MGMT

YES

AGNST

10.00 Approve stock option grant

MGMT

YES

FOR

11.00 Ratify Past Share Issues

MGMT

YES

AGNST

12.00 Change company name

MGMT

YES

FOR

13.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

14.00 Approve stock option grant

MGMT

YES

AGNST

15.00 Amend stock option plan

MGMT

YES

AGNST

16.00 Authorize share repurchase

MGMT

YES

FOR

European Goldfields

N/A

298774100

11/26/2004

Special

Adviser: Jennison Associates

1.00 Approve merger/acquisition

MGMT

YES

FOR

2.00 Set board/supervisory board size limits

MGMT

YES

FOR

3.00 Elect Dimitrios Koutras

MGMT

YES

FOR

Page 6 of 42

Form N-PX Proxy Voting Record 10/1/2004—12/31/2004

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG
DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Harmony Gold Mining

HMY

413216300

11/12/2004

Special

Adviser: Jennison Associates

1.00 Approve merger/acquisition

MGMT

YES

AGNST

2.00 Increase authorized capital

MGMT

YES

AGNST

3.00 Issue stock w/ or w/o preemptive rights

MGMT

YES

AGNST

4.00 Issue stock w/ or w/o preemptive rights

MGMT

YES

FOR

5.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

6.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

7.00 Authorize legal formalities

MGMT

YES

FOR

Kinross Gold Corp

496902404

11/26/2004

Special

Adviser: Jennison Associates

1.00 Approve reverse stock split

MGMT

YES

FOR

NK Yukos OAO

YUKOY

98849W108

12/20/2004

Special

Adviser: Jennison Associates

1.00 Dissolve company/approve liquidation

MGMT

YES

FOR

2.00 Dissolve company/approve liquidation

MGMT

YES

FOR

XTO Energy Inc

XTO

98385X106

11/16/2004

Special

Adviser: Jennison Associates

1.00 Adopt Stock Incentive Plan

MGMT

YES

FOR

Page 7 of 42

Form N-PX Proxy Voting Record 1/1/2005—3/31/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

BJ Services Co

BJS

055482103

3/24/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

Cheniere Energy Inc

LNG

16411R208

2/8/2005

Special

Adviser: Jennison Associates

1.00 Add Shares to Stock Incentive Plan

MGMT

YES

AGNST

2.00 Increase authorized common stock

MGMT

YES

FOR

3.00 Other Business

MGMT

YES

AGNST

National Oilwell Varco. Inc.

NOV

637071101

3/11/2005

Special

Adviser: Jennison Associates

1.00 Approve Merger/Acquisition

MGMT

YES

FOR

2.00 Adopt Stock Option Plan

MGMT

YES

FOR

3.00 Adjourn Meeting

MGMT

YES

FOR

4.00 Approve Other Business

MGMT

YES

AGNST

Petroleo Brasileiro S.A. - Petrobaras

N/A

P78331132

3/15/2005

Annual

Adviser: Jennison Associates

1.00 Approve Financial Statements

MGMT

YES

FOR

2.00 Authorize Legal Formalities

MGMT

YES

FOR

3.00 Set Dividend/Allocate Profits

MGMT

YES

FOR

4.00 Election of Directors by Slate

MGMT

YES

AGNST

5.00 Misc-Non-U.S. Mgt Board

MGMT

YES

AGNST

6.00 Approve Directors Fees

MGMT

YES

AGNST

Page 8 of 42

Form N-PX Proxy Voting Record 1/1/2005—3/31/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Souther Peru Copper Corp.

PCU

843611104

3/28/2005

Annual

Adviser: Jennison Associates

1.00 Increase Authorized Common Stock

MGMT

YES

FOR

2.00 Approve Common Stock Issuance

MGMT

YES

FOR

3.00 Approve Non-Technical Charter Amendments

MGMT

YES

FOR

Page 9 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Alumina Ltd

N/A

022205108

4/27/2005

Annual

Adviser: Jennison Associates

1.00 Approve financial statements

MGMT

YES

FOR

2.00 Elect Directors

MGMT

YES

FOR

3.00 Elect Directors

MGMT

YES

FOR

4.00 Require approval for partial takeover bids

MGMT

YES

FOR

5.00 Consider other business

MGMT

YES

FOR

Page 10 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Aluminum Corporation of China

ACH

022276109

6/9/2005

Annual

Adviser: Jennison Associates

1.00 Authorize legal formalities

MGMT

YES

FOR

2.00 Authorize legal formalities

MGMT

YES

FOR

3.00 Approve financial statements

MGMT

YES

FOR

4.00 Set Final Dividend at 0.176

MGMT

YES

AGNST

5.00 Elect Directors

MGMT

YES

FOR

6.00 Approve directors’ fees

MGMT

YES

AGNST

7.00 Appoint auditors and set their fees

MGMT

YES

FOR

8.00 Amend company purpose

MGMT

YES

AGNST

9.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

10.00 Amend articles regarding issuance of capital

MGMT

YES

FOR

11.00 Amend dividend distribution rules

MGMT

YES

FOR

12.00 Amend board election rules

MGMT

YES

FOR

13.00 Amend meeting procedures/change date

MGMT

YES

FOR

14.00 Amend board powers/procedures/qualifications

MGMT

YES

FOR

15.00 Amend articles to reflect capital inc/decrease

MGMT

YES

FOR

16.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

17.00 Amend articles to reflect capital inc/decrease

MGMT

YES

FOR

18.00 SP- Issue short-term debt instruments

SHLDR

YES

FOR

19.00 Issue debt instruments

MGMT

YES

AGNST

20.00 Consider other business

MGMT

YES

AGNST

Page 11 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

AngloGold Ashanti Ltd

035128206

4/29/2005

Annual

Adviser: Jennison Associates

1.00 Approve financial statements

MGMT

YES

FOR

2.00 Elect Directors

MGMT

YES

FOR

3.00 Elect Directors

MGMT

YES

FOR

4.00 Elect Directors

MGMT

YES

FOR

5.00 Elect Directors

MGMT

YES

FOR

6.00 Elect Directors

MGMT

YES

FOR

7.00 Elect Directors

MGMT

YES

FOR

8.00 Elect Directors

MGMT

YES

FOR

9.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

10.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

11.00 Authorize share repurchase

MGMT

YES

FOR

12.00 Approve executive profit sharing/bonus plan

MGMT

YES

FOR

13.00 Approve Executive Profit Sharing Plan

MGMT

YES

FOR

AXMIN Inc

N/A

05461V102

6/21/2005

Annual

Adviser: Jennison Associates

1.00 Approve stock option plan

MGMT

YES

FOR

2.00 Elect Directors

MGMT

YES

FOR

3.00 Appoint auditors and set their fees

MGMT

YES

FOR

Page 12 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Blount International Inc

BLT

095180105

4/19/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

Page 13 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Cameco Corp

CCJ

13321L108

5/5/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

1.10 Elect Directors

MGMT

YES

FOR

1.11 Elect Directors

MGMT

YES

FOR

1.12 Elect Directors

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.00 Authorize legal formalities

MGMT

YES

FOR

4.00 Authorize legal formalities

MGMT

YES

FOR

Carbo Ceramics Inc

CRR

140781105

4/19/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

Page 14 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Carrizo Oil & Gas

CRZO

144577103

5/10/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Amend Stock Incentive Plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Cheniere Energy Inc

LNG

16411R208

5/24/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Approve other business

MGMT

YES

AGNST

Page 15 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Coeur d’Alene Mines Corp

CDE

192108108

6/3/2005

#Null#

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

2.00 Adopt Director Stock Incentive Plan

MGMT

YES

AGNST

Companhia Vale do Rio Doce

RIO

204412209

4/27/2005

Annual

Adviser: Jennison Associates

1.00 Approve financial statements

MGMT

YES

FOR

2.00 Set Dividend/Allocate Profits

MGMT

YES

FOR

3.00 Election of directors by slate

MGMT

YES

FOR

4.00 Elect statutory auditors

MGMT

YES

FOR

5.00 Approve directors’ fees

MGMT

YES

AGNST

6.00 Increase authorized capital

MGMT

YES

FOR

7.00 Amend dividend distribution rules

MGMT

YES

FOR

Compton Petroleum Corp

N/A

204940100

5/10/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Approve stock option plan

MGMT

YES

FOR

3.00 Approve financial statements

MGMT

YES

FOR

Page 16 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Cooper Cameron Corp

CAM

216640102

5/5/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Reapprove option/bonus plan for OBRA

MGMT

YES

FOR

4.00 Adopt the 2005 Equity Incentive Plan

MGMT

YES

AGNST

Crystallex International Corp

N/A

22942F101

6/24/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Amend stock option plan

MGMT

YES

FOR

Denbury Resources

DNR

247916208

5/11/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Amend employee stock purchase plan

MGMT

YES

FOR

Page 17 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

DRDGOLD Ltd

N/A

26152H103

5/20/2005

Special

Adviser: Jennison Associates

1.00 Approve related party transactions

MGMT

YES

FOR

2.00 Reauthorize share issue limit

MGMT

YES

FOR

Duvernay Oil Corp

N/A

267393106

6/8/2005

Annual

Adviser: Jennison Associates

1.00 Set board/supervisory board size limits

MGMT

YES

FOR

2.00 Election of directors by slate

MGMT

YES

FOR

3.00 Appoint auditors and set their fees

MGMT

YES

FOR

4.00 Amend stock option plan

MGMT

YES

FOR

5.00 Approve stock option grant

MGMT

YES

FOR

Encore Acquisition

EAC

29255W100

5/3/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.01 Increase authorized common stock

MGMT

YES

FOR

2.02 Approve non-technical charter amendments

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Page 18 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Ensco International Inc

ESV

26874Q100

5/3/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

2.00 Amend authorized preferred stock

MGMT

YES

FOR

3.00 Approve technical amendments

MGMT

YES

FOR

4.00 Approve technical amendments

MGMT

YES

FOR

5.00 Adopt the 2005 Cash Incentive Plan

MGMT

YES

FOR

6.00 Adopt the 2005 Long Term Incentive Plan

MGMT

YES

FOR

7.00 Ratify selection of auditors

MGMT

YES

FOR

European Goldfields

N/A

298774100

6/9/2005

Annual

Adviser: Jennison Associates

1.00 Set board/supervisory board size limits

MGMT

YES

FOR

2.10 Elect Directors

MGMT

YES

FOR

2.20 Elect Directors

MGMT

YES

FOR

2.30 Elect Directors

MGMT

YES

FOR

2.40 Elect Directors

MGMT

YES

FOR

2.50 Elect Directors

MGMT

YES

FOR

2.60 Elect Directors

MGMT

YES

FOR

3.00 Appoint outside auditors

MGMT

YES

FOR

4.00 Set auditors’ fees

MGMT

YES

FOR

5.00 Amend stock option plan

MGMT

YES

FOR

6.00 Approve executive profit sharing/bonus plan

MGMT

YES

FOR

Page 19 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

First Quantum Minerals

335934105

5/17/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Approve reincorporation

MGMT

YES

FOR

FMC Technologies Inc

FTI

30249U101

4/28/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

FNX Mining Co

FNX

30253R101

5/19/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

Page 20 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Freeport McMoRan Copper & Gold

FCX

35671D857

5/5/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Adopt the 2005 Annual Incentive Plan

MGMT

YES

FOR

4.00 SP-Majority vote to elect directors

SHLDR

YES

AGNST

FOR

5.00 SP-Review operations’ impact on local groups

SHLDR

YES

AGNST

FOR

Gabriel Resources

GBU

361970106

4/19/2005

Annual

Adviser: Jennison Associates

1.00 Set board/supervisory board size limits

MGMT

YES

FOR

2.10 Elect Directors

MGMT

YES

FOR

2.20 Elect Directors

MGMT

YES

FOR

2.30 Elect Directors

MGMT

YES

FOR

2.40 Elect Directors

MGMT

YES

FOR

2.50 Elect Directors

MGMT

YES

FOR

2.60 Elect Directors

MGMT

YES

FOR

2.70 Elect Directors

MGMT

YES

FOR

3.00 Appoint auditors and set their fees

MGMT

YES

FOR

4.00 Adopt Stock Award Plan

MGMT

YES

FOR

Page 21 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Galaxy Energy Corp

GAXI

36318B106

6/21/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

1.40 Elect Directors

MGMT

YES

FOR

1.50 Elect Directors

MGMT

YES

FOR

1.60 Elect Directors

MGMT

YES

FOR

1.70 Elect Directors

MGMT

YES

FOR

Gasco Energy Inc

GSX

367220100

6/9/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

1.40 Elect Directors

MGMT

YES

FOR

1.50 Elect Directors

MGMT

YES

FOR

1.60 Elect Directors

MGMT

YES

FOR

1.70 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Increase authorized common stock

MGMT

YES

FOR

Genoil

N/A

371924101

6/3/2005

Annual

Adviser: Jennison Associates

1.00 Amend stock option plan

MGMT

YES

FOR

2.00 Approve Executive Employment Agreements

MGMT

YES

FOR

3.00 Election of directors by slate

MGMT

YES

FOR

4.00 Appoint auditors and set their fees

MGMT

YES

AGNST

Page 22 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

GlobalSantaFe Corp

GSF

G3930E101

6/7/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

1.40 Elect Directors

MGMT

YES

FOR

2.00 Amend Stock Incentive Plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Gold Reserve Inc

N/A

38068N108

6/2/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Amend stock option plan

MGMT

YES

FOR

4.00 Amend stock purchase plan/SAYE/AESOP

MGMT

YES

FOR

Grant Prideco Inc

GRP

38821G101

5/11/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

Page 23 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Grey Wolf

397888108

5/17/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

Houston Exploration

THX

442120101

4/26/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

2.00 Increase authorized common stock

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Hydril Co

HYDL

448774109

5/17/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Adopt the 2005 Incentive Plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

Page 24 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Ivanhoe Mines

N/A

46579N103

5/10/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

1.10 Elect Directors

MGMT

YES

FOR

1.11 Elect Directors

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Amend stock option plan

MGMT

YES

FOR

KCS Energy

KCS

482424206

6/10/2005

#Null#

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Adopt Stock Incentive Plan

MGMT

YES

FOR

Page 25 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Lyondell Chemical Co

LYO

552078107

5/5/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

WHOLD

AGNST

1.09 Elect Directors

MGMT

YES

FOR

1.10 Elect Directors

MGMT

YES

FOR

1.11 Elect Directors

MGMT

YES

FOR

1.12 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

McMoRan Exploration

MMR

582411104

5/5/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Adopt the 2005 Stock Incentive Plan

MGMT

YES

AGNST

Page 26 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Meridian Gold Inc

MNG

589975101

5/10/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

WHOLD

AGNST

1.00 Election of directors by slate

MGMT

YES

AGNST

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

Page 27 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Miramar Mining Corp

N/A

60466E100

5/10/2005

Annual

Adviser: Jennison Associates

1.00 Approve financial statements

MGMT

YES

FOR

1.00 Approve financial statements

MGMT

YES

FOR

2.01 Elect Directors

MGMT

YES

FOR

2.01 Elect Directors

MGMT

YES

FOR

2.02 Elect Directors

MGMT

YES

FOR

2.02 Elect Directors

MGMT

YES

FOR

2.03 Elect Directors

MGMT

YES

FOR

2.03 Elect Directors

MGMT

YES

FOR

2.04 Elect Directors

MGMT

YES

FOR

2.04 Elect Directors

MGMT

YES

FOR

2.05 Elect Directors

MGMT

YES

FOR

2.05 Elect Directors

MGMT

YES

FOR

2.06 Elect Directors

MGMT

YES

FOR

2.06 Elect Directors

MGMT

YES

FOR

2.07 Elect Directors

MGMT

YES

FOR

2.07 Elect Directors

MGMT

YES

FOR

2.08 Elect Directors

MGMT

YES

FOR

2.08 Elect Directors

MGMT

YES

FOR

Page 28 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Nabors Industries Ltd

NBR

G6359F103

6/7/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Approve non-technical bylaw amendments

MGMT

YES

FOR

4.00 Amend Stock Incentive Plan

MGMT

YES

FOR

5.00 SP-Award performance-based stock options

SHLDR

YES

AGNST

FOR

6.00 Approve other business

MGMT

YES

AGNST

Nelson Resources

N/A

G64180105

6/10/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Approve stock option plan

MGMT

YES

FOR

4.00 Approve stock option grant

MGMT

YES

FOR

5.00 Approve stock option grant

MGMT

YES

FOR

Page 29 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Nevsun Resources

N/A

64156L101

4/27/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.00 Set auditors’ fees

MGMT

YES

FOR

4.00 Amend articles—technical

MGMT

YES

FOR

5.00 Amend articles—technical

MGMT

YES

FOR

6.00 Amend articles—technical

MGMT

YES

FOR

7.00 Amend stock option plan

MGMT

YES

FOR

Page 30 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Nexen

N/A

65334H102

4/27/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

1.10 Elect Directors

MGMT

YES

FOR

2.00 mend articles—technical

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

4.00 Approve stock split

MGMT

YES

FOR

Oil States International Inc

OIS

678026105

5/18/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Amend Stock Incentive Plan

MGMT

YES

FOR

Page 31 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

OMI

OMM

Y6476W104

5/19/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

OPTI Canada Inc

N/A

68383K109

5/4/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

Orezone Resources Inc

N/A

685921108

5/11/2005

Annual

Adviser: Jennison Associates

1.00 Elect Directors

MGMT

YES

FOR

2.00 Elect Directors

MGMT

YES

FOR

3.00 Elect Directors

MGMT

YES

FOR

4.00 Elect Directors

MGMT

YES

FOR

5.00 Elect Directors

MGMT

YES

FOR

6.00 Appoint auditors and set their fees

MGMT

YES

FOR

Page 32 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Pan American Silver

N/A

697900108

4/28/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.00 Set auditors’ fees

MGMT

YES

FOR

4.00 Amend stock option plan

MGMT

YES

FOR

5.00 Increase authorized capital

MGMT

YES

FOR

Phelps Dodge Corp

717265102

5/27/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

2.00 Adopt the 2006 Executive Performance Incentive Plan

MGMT

YES

AGNST

3.00 Increase authorized common stock

MGMT

YES

FOR

4.00 Ratify selection of auditors

MGMT

YES

FOR

Page 33 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Placer Dome Inc

N/A

725906101

4/27/2005

Annual

Adviser: Jennison Associates

1.00 Elect Directors

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

Quicksilver Resources

KWK

74837R104

5/17/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Amend Director Stock Incentive Plan

MGMT

YES

FOR

4.00 Increase authorized common stock

MGMT

YES

AGNST

RailPower Technologies Corp

N/A

750758104

5/6/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Amend stock option plan

MGMT

YES

FOR

Page 34 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Range Resources

RRC

75281A109

5/18/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

2.00 Increase authorized common stock

MGMT

YES

FOR

3.00 Amend indemnification provision

MGMT

YES

FOR

4.00 Adopt the 2005 Equity-Based Compensation Plan

MGMT

YES

FOR

5.00 Add shares to the 2005 Equity-Based Compensation Plan

MGMT

YES

FOR

6.00 Ratify selection of auditors

MGMT

YES

FOR

Rowan Cos Inc

RDC

779382100

4/22/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Adopt the 2005 Long-Term Incentive Plan

MGMT

YES

FOR

Page 35 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Smith International Inc

SII

832110100

4/26/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Increase authorized common stock

MGMT

YES

FOR

3.00 Adopt the Amended and Restated 1989 Long Term Incentive Plan

MGMT

YES

FOR

4.00 Ratify selection of auditors

MGMT

YES

FOR

Southern Peru Copper

PCU

843611104

5/16/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

2.00 Amend director stock award plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

SouthernEra Diamonds Inc

N/A

84415N102

6/28/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Amend stock option plan

MGMT

YES

FOR

4.00 Approve executive profit sharing/bonus plan

MGMT

YES

FOR

Page 36 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Southwestern Energy Co

SWN

845467109

5/11/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

3.00 Increase authorized common stock

MGMT

YES

FOR

4.00 Approve non-technical charter amendments

MGMT

YES

FOR

St. Mary Land & Exploration Co

792228108

5/25/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

2.00 Increase authorized common stock

MGMT

YES

FOR

Page 37 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Suncor Energy

N/A

867229106

4/28/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

1.09 Elect Directors

MGMT

YES

FOR

1.10 Elect Directors

MGMT

YES

FOR

1.11 Elect Directors

MGMT

YES

FOR

1.12 Elect Directors

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

FOR

Teekay Shipping

Y8564W103

6/1/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

Page 38 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Todco

THE

88889T107

5/10/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Reapprove option/bonus plan for OBRA

MGMT

YES

FOR

3.00 Adopt Stock Incentive Plan

MGMT

YES

FOR

Transocean Inc

RIG

G90078109

5/12/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Add shares to the Employee Stock Purchase Plan

MGMT

YES

FOR

3.00 Ratify selection of auditors

MGMT

YES

FOR

UTS Energy

UTS

903396109

5/26/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

4.00 Amend stock purchase plan/SAYE/AESOP

MGMT

YES

FOR

5.00 Amend stock option plan

MGMT

YES

FOR

Page 39 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Warren Resources Inc

WRES

93564A100

6/15/2005

Annual

Adviser: Jennison Associates

1.10 Elect Directors

MGMT

YES

FOR

1.20 Elect Directors

MGMT

YES

FOR

1.30 Elect Directors

MGMT

YES

FOR

1.40 Elect Directors

MGMT

YES

FOR

1.50 Elect Directors

MGMT

YES

FOR

1.60 Elect Directors

MGMT

YES

FOR

1.70 Elect Directors

MGMT

YES

FOR

1.80 Elect Directors

MGMT

YES

FOR

2.00 Ratify selection of auditors

MGMT

YES

FOR

Weatherford International Ltd

WFT

G95089101

5/13/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

1.07 Elect Directors

MGMT

YES

FOR

1.08 Elect Directors

MGMT

YES

FOR

2.00 Appoint auditors and set their fees

MGMT

YES

FOR

Page 40 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Western Gas Resources Inc

WGR

958259103

5/6/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

2.00 Adopt the 2005 Stock Incentive Plan

MGMT

YES

FOR

Western Oil Sands Inc

N/A

959053109

5/11/2005

Annual

Adviser: Jennison Associates

1.00 Election of directors by slate

MGMT

YES

FOR

2.00 Appoint outside auditors

MGMT

YES

FOR

3.00 Adopt poison-pill-style defense

MGMT

YES

AGNST

4.00 Amend executive profit sharing/bonus plan

MGMT

YES

FOR

5.00 Approve stock split

MGMT

YES

FOR

Page 41 of 42

Form N-PX Proxy Voting Record 4/1/2005—6/30/2005

Trust: Jennison Natural Resources Fund, Inc.

Manager: Prudential

Fund: JENNISON NATURAL RESOURCES FUND, INC.

ISSUER NAME

TICKER

CUSIP

MTG DATE

MTG TYPE

Proposal
Type

Voted?

Vote
Cast

For/Agnst
Mgmt

Western Silver Corp

N/A

959531104

4/4/2005

Annual

Adviser: Jennison Associates

1.00 Set board/supervisory board size limits

MGMT

YES

FOR

2.10 Elect Directors

MGMT

YES

FOR

2.20 Elect Directors

MGMT

YES

FOR

2.30 Elect Directors

MGMT

YES

FOR

2.40 Elect Directors

MGMT

YES

FOR

2.50 Elect Directors

MGMT

YES

FOR

2.60 Elect Directors

MGMT

YES

FOR

2.70 Elect Directors

MGMT

YES

FOR

3.00 Appoint outside auditors

MGMT

YES

FOR

4.00 Set auditors’ fees

MGMT

YES

FOR

5.00 Approve stock option plan

MGMT

YES

FOR

6.00 Amend articles—technical

MGMT

YES

FOR

7.00 Increase authorized capital

MGMT

YES

FOR

8.00 Amend articles—technical

MGMT

YES

FOR

9.00 Issue stock w/o preemptive rights

MGMT

YES

FOR

W-H Energy Services Inc

WHQ

92925E108

5/11/2005

Annual

Adviser: Jennison Associates

1.01 Elect Directors

MGMT

YES

FOR

1.02 Elect Directors

MGMT

YES

FOR

1.03 Elect Directors

MGMT

YES

FOR

1.04 Elect Directors

MGMT

YES

FOR

1.05 Elect Directors

MGMT

YES

FOR

1.06 Elect Directors

MGMT

YES

FOR

Page 42 of 42

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.

Jennison Natural Resources Fund, Inc.

/s/ Judy A. Rice

Judy A. Rice, President

Date: August 17, 2005

Prudential Jennison Natural Resources Fund N-PXAnnual report of proxy voting record