| UNITED STATES |
| SECURITIES AND EXCHANGE COMMISSION |
| Washington, DC 20549 |
| | | | | | |
| FORM N-PX |
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| ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT |
| INVESTMENT COMPANY |
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| Investment Company Act file number: 811-6477 | | | | | |
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| SM&R Investments Inc. | | | | | |
| (Exact name of registrant as specified in charter) | | | | | |
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| 2450 South Shore Blvd., Suite 400 | | | | | |
| League City, TX 77573 | | | | | |
| (Address of principal executive offices) (Zip code) | | | | | |
| | | | | | |
| Michael W. McCroskey | | | | | |
| Securities Management and Research, Inc. | | | | | |
| 2450 South Shore Blvd., Suite 400 | | | | | |
| League City, TX 77573 | | | | | |
| (Name and address of agent for service) | | | | | |
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| Registrant's telephone number, including area code: (281) 334-2469 | | | | |
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| Date of fiscal year end: August 31 | | | | | |
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| Date of reporting period: July 1, 2005 - June 30, 2006 | | | | | |
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| SM&R BALANCED PORTFOLIO | | | | | |
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| THE GILLETTE COMPANY | | G | | | Special Meeting Date: 07/12/2005 |
| Issuer: 375766102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,400 | 2,400 | 0 | 07/07/2005 |
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| THE PROCTER & GAMBLE COMPANY | | PG | | | Special Meeting Date: 07/12/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,200 | 7,200 | 0 | 07/07/2005 |
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| NEXTEL COMMUNICATIONS, INC. | | NXTL | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 65332V103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | TIMOTHY M. DONAHUE | Management | For | For | |
| | FRANK M DRENDEL | Management | For | For | |
| | WILLIAM E. KENNARD | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,600 | 3,600 | 0 | 07/08/2005 |
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| SPRINT CORPORATION | | S | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 852061100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 02 | AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE ISSUANCE OF COMMON AND PREFERRED STOCK | Management | For | For | |
| 05 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 06 | ELECTION OF DIRECTORS | | Management | For | | |
| | GORDON M. BETHUNE | Management | For | For | |
| | DR. E. LINN DRAPER, JR. | Management | For | For | |
| | JAMES H. HANCE, JR. | Management | For | For | |
| | DEBORAH A. HENRETTA | Management | For | For | |
| | IRVINE O. HOCKADAY, JR. | Management | For | For | |
| | LINDA KOCH LORIMER | Management | For | For | |
| | GERALD L. STORCH | Management | For | For | |
| | WILLIAM H. SWANSON | Management | For | For | |
| 07 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 08 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,700 | 5,700 | 0 | 07/08/2005 |
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| DELL INC. | | DELL | | | Annual Meeting Date: 07/15/2005 |
| Issuer: 24702R101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DONALD J. CARTY | Management | For | For | |
| | MICHAEL S. DELL | Management | For | For | |
| | WILLIAM H. GRAY, III | Management | For | For | |
| | JUDY C. LEWENT | Management | For | For | |
| | THOMAS W. LUCE, III | Management | For | For | |
| | KLAUS S. LUFT | Management | For | For | |
| | ALEX J. MANDL | Management | For | For | |
| | MICHAEL A. MILES | Management | For | For | |
| | SAMUEL A. NUNN, JR. | Management | For | For | |
| | KEVIN B. ROLLINS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| SH1 | S/H PROPOSAL - BOARD OF DIRECTORS | | Shareholder | Against | For | |
| SH2 | S/H - EXPENSING OF STOCK OPTIONS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,900 | 6,900 | 0 | 07/12/2005 |
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| FEDERAL HOME LOAN MORTGAGE CORPORATI | | FRE | | | Annual Meeting Date: 07/15/2005 |
| Issuer: 313400301 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | BARBARA T. ALEXANDER | Management | For | For | |
| | GEOFFREY T. BOISI | Management | For | For | |
| | JOAN E. DONOGHUE | Management | For | For | |
| | MICHELLE ENGLER | Management | For | For | |
| | RICHARD KARL GOELTZ | Management | For | For | |
| | THOMAS S. JOHNSON | Management | For | For | |
| | WILLIAM M. LEWIS, JR. | Management | For | For | |
| | EUGENE M. MCQUADE | Management | For | For | |
| | SHAUN F. O'MALLEY | Management | For | For | |
| | RONALD F. POE | Management | For | For | |
| | STEPHEN A. ROSS | Management | For | For | |
| | RICHARD F. SYRON | Management | For | For | |
| | WILLIAM J. TURNER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,900 | 3,900 | 0 | 07/12/2005 |
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| EXELON CORPORATION | | EXC | | | Annual Meeting Date: 07/22/2005 |
| Issuer: 30161N101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | STOCK ISSUANCE | | Management | For | For | |
| 02 | ELECTION OF DIRECTORS | | Management | For | | |
| | E.A. BRENNAN | Management | For | For | |
| | B. DEMARS | Management | For | For | |
| | N.A. DIAZ | Management | For | For | |
| | J.W. ROWE | Management | For | For | |
| | R. RUBIN | Management | For | For | |
| 03 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 06 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 07 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,400 | 1,400 | 0 | 07/19/2005 |
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| VODAFONE GROUP PLC | | VOD | | | Annual Meeting Date: 07/26/2005 |
| Issuer: 92857W100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| O1 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O2 | ELECTION OF DIRECTORS | | Management | For | | |
| | LORD MACLAURIN | Management | For | For | |
| | PAUL HAZEN | Management | For | For | |
| | ARUN SARIN | Management | For | For | |
| | SIR JULIAN HORN-SMITH | Management | For | For | |
| | PETER BAMFORD | Management | For | For | |
| | THOMAS GEITNER | Management | For | For | |
| | DR MICHAEL BOSKIN | Management | For | For | |
| | LORD BROERS | Management | For | For | |
| | JOHN BUCHANAN | Management | For | For | |
| | PENNY HUGHES | Management | For | For | |
| | PROF. JURGEN SCHREMPP | Management | For | For | |
| | LUC VANDEVELDE | Management | For | For | |
| | SIR JOHN BOND | Management | For | For | |
| | ANDREW HALFORD | Management | For | For | |
| O16 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O17 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O18 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O19 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O20 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O21 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| S22 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| S23 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| S24 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| O25 | CHANGE STOCK EXCHANGE LISTING | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,500 | 5,500 | 0 | 07/14/2005 |
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| ELECTRONIC ARTS INC. | | ERTS | | | Annual Meeting Date: 07/28/2005 |
| Issuer: 285512109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. RICHARD ASHER | Management | For | For | |
| | LEONARD S. COLEMAN | Management | For | For | |
| | GARY M. KUSIN | Management | For | For | |
| | GREGORY B. MAFFEI | Management | For | For | |
| | TIMOTHY MOTT | Management | For | For | |
| | VIVEK PAUL | Management | For | For | |
| | ROBERT W. PITTMAN | Management | For | For | |
| | LAWRENCE F. PROBST III | Management | For | For | |
| | LINDA J. SRERE | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,500 | 1,500 | 0 | 07/25/2005 |
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| SUNGARD DATA SYSTEMS INC. | | SDS | | | Annual Meeting Date: 07/28/2005 |
| Issuer: 867363103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE ANNUAL MEETING DATE/TIME CHANGE | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | GREGORY S. BENTLEY | Management | For | For | |
| | MICHAEL C. BROOKS | Management | For | For | |
| | CRISTOBAL CONDE | Management | For | For | |
| | RAMON DE OLIVEIRA | Management | For | For | |
| | HENRY C. DUQUES | Management | For | For | |
| | ALBERT A. EISENSTAT | Management | For | For | |
| | BERNARD GOLDSTEIN | Management | For | For | |
| | JANET BRUTSCHEA HAUGEN | Management | For | For | |
| | ROBERT E. KING | Management | For | For | |
| | JAMES L. MANN | Management | For | For | |
| | MALCOLM I. RUDDOCK | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,400 | 2,400 | 0 | 07/25/2005 |
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| XILINX, INC. | | XLNX | | | Annual Meeting Date: 08/04/2005 |
| Issuer: 983919101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLEM P. ROELANDTS | Management | For | For | |
| | JOHN L. DOYLE | Management | For | For | |
| | JERALD G. FISHMAN | Management | For | For | |
| | PHILIP T. GIANOS | Management | For | For | |
| | WILLIAM G. HOWARD, JR. | Management | For | For | |
| | HAROLD E. HUGHES, JR. | Management | For | For | |
| | J. MICHAEL PATTERSON | Management | For | For | |
| | RICHARD W. SEVCIK | Management | For | For | |
| | ELIZABETH W VANDERSLICE | Management | For | For | |
| 02 | AMEND STOCK PURCHASE PLAN TO INCREASE SHARES | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | CHANGE STOCK EXCHANGE LISTING | | Management | For | *Management Position Unknown |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,700 | 2,700 | 0 | 08/01/2005 |
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| UNOCAL CORPORATION | | UCL | | | Special Meeting Date: 08/10/2005 |
| Issuer: 915289102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 4,100 | 4,100 | 0 | 08/03/2005 |
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| AMERICAN INTERNATIONAL GROUP, INC. | | AIG | | | Annual Meeting Date: 08/11/2005 |
| Issuer: 026874107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. AIDINOFF | Management | For | For | |
| | P. CHIA | Management | For | For | |
| | M. COHEN | Management | For | For | |
| | W. COHEN | Management | For | For | |
| | M. FELDSTEIN | Management | For | For | |
| | E. FUTTER | Management | For | For | |
| | S. HAMMERMAN | Management | For | For | |
| | C. HILLS | Management | For | For | |
| | R. HOLBROOKE | Management | For | For | |
| | D. KANAK | Management | For | For | |
| | G. MILES, JR. | Management | For | For | |
| | M. OFFIT | Management | For | For | |
| | M. SULLIVAN | Management | For | For | |
| | E. TSE | Management | For | For | |
| | F. ZARB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,731 | 5,731 | 0 | 08/08/2005 |
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| H.J. HEINZ COMPANY | | HNZ | | | Annual Meeting Date: 08/23/2005 |
| Issuer: 423074103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | W.R. JOHNSON | Management | For | For | |
| | C.E. BUNCH | Management | For | For | |
| | M.C. CHOKSI | Management | For | For | |
| | L.S. COLEMAN, JR. | Management | For | For | |
| | P.H. COORS | Management | For | For | |
| | E.E. HOLIDAY | Management | For | For | |
| | C. KENDLE | Management | For | For | |
| | D.R. O'HARE | Management | For | For | |
| | L.C. SWANN | Management | For | For | |
| | T.J. USHER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,600 | 2,600 | 0 | 08/17/2005 |
| | | | | | |
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| | | | | | |
| ORACLE CORPORATION | | ORCL | | | Annual Meeting Date: 10/10/2005 |
| Issuer: 68389X105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JEFFREY O. HENLEY | Management | For | For | |
| | LAWRENCE J. ELLISON | Management | For | For | |
| | DONALD L. LUCAS | Management | For | For | |
| | MICHAEL J. BOSKIN | Management | For | For | |
| | JACK F. KEMP | Management | Withheld | Against | |
| | JEFFREY S. BERG | Management | For | For | |
| | SAFRA A. CATZ | Management | For | For | |
| | HECTOR GARCIA-MOLINA | Management | For | For | |
| | JOSEPH A. GRUNDFEST | Management | For | For | |
| | H. RAYMOND BINGHAM | Management | For | For | |
| | CHARLES E. PHILLIPS, JR | Management | For | For | |
| 02 | APPROVE EXECUTIVE BONUS PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 11,100 | 11,100 | 0 | 09/20/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE PROCTER & GAMBLE COMPANY | | PG | | | Annual Meeting Date: 10/11/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRUCE L. BYRNES | Management | For | For | |
| | SCOTT D. COOK | Management | For | For | |
| | CHARLES R. LEE | Management | Withheld | Against | |
| | W. JAMES MCNERNEY, JR. | Management | For | For | |
| | ERNESTO ZEDILLO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 07 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,200 | 7,200 | 0 | 10/06/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| LINEAR TECHNOLOGY CORPORATION | | LLTC | | | Annual Meeting Date: 11/02/2005 |
| Issuer: 535678106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ROBERT H. SWANSON, JR. | Management | For | For | |
| | DAVID S. LEE | Management | Withheld | Against | |
| | LOTHAR MAIER | Management | For | For | |
| | LEO T. MCCARTHY | Management | For | For | |
| | RICHARD M. MOLEY | Management | Withheld | Against | |
| | THOMAS S. VOLPE | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,500 | 1,500 | 0 | 10/28/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| MICROSOFT CORPORATION | | MSFT | | | Annual Meeting Date: 11/09/2005 |
| Issuer: 594918104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM H. GATES III | Management | For | For | |
| | STEVEN A. BALLMER | Management | For | For | |
| | JAMES I. CASH JR. | Management | Withheld | Against | |
| | DINA DUBLON | Management | For | For | |
| | RAYMOND V. GILMARTIN | Management | For | For | |
| | A. MCLAUGHLIN KOROLOGOS | Management | Withheld | Against | |
| | DAVID F. MARQUARDT | Management | For | For | |
| | CHARLES H. NOSKI | Management | For | For | |
| | HELMUT PANKE | Management | For | For | |
| | JON A. SHIRLEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 23,300 | 23,300 | 0 | 11/04/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| CISCO SYSTEMS, INC. | | CSCO | | | Annual Meeting Date: 11/15/2005 |
| Issuer: 17275R102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CAROL A. BARTZ | Management | For | For | |
| | M. MICHELE BURNS | Management | For | For | |
| | LARRY R. CARTER | Management | For | For | |
| | JOHN T. CHAMBERS | Management | For | For | |
| | DR. JOHN L. HENNESSY | Management | For | For | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | RODERICK C. MCGEARY | Management | For | For | |
| | JAMES C. MORGAN | Management | For | For | |
| | JOHN P. MORGRIDGE | Management | For | For | |
| | STEVEN M. WEST | Management | For | For | |
| | JERRY YANG | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE | Shareholder | Against | For | |
| COMPENSATION | | | | | |
| 06 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 11,700 | 11,700 | 0 | 11/09/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE COCA-COLA COMPANY | | KO | | | Consent Meeting Date: 01/13/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Against | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,000 | 6,000 | 0 | 12/06/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| HEALTH MANAGEMENT ASSOCIATES, INC. | | HMA | | | Annual Meeting Date: 02/21/2006 |
| Issuer: 421933102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM J. SCHOEN | Management | For | For | |
| | JOSEPH V. VUMBACCO | Management | For | For | |
| | KENT P. DAUTEN | Management | For | For | |
| | DONALD E. KIERNAN | Management | Withheld | Against | |
| | ROBERT A. KNOX | Management | For | For | |
| | WILLIAM E. MAYBERRY, MD | Management | For | For | |
| | VICKI A. O'MEARA | Management | For | For | |
| | WILLIAM C. STEERE, JR. | Management | For | For | |
| | R.W. WESTERFIELD, PH.D. | Management | For | For | |
| 02 | ADOPT RESTRICTED STOCK AWARD PLAN | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,800 | 3,800 | 0 | 02/13/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TYCO INTERNATIONAL LTD. | | TYC | | | Annual Meeting Date: 03/09/2006 |
| Issuer: 902124106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | FIX NUMBER OF DIRECTORS | | Management | For | For | |
| 1B | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS C. BLAIR | Management | For | For | |
| | EDWARD D. BREEN | Management | For | For | |
| | BRIAN DUPERREAULT | Management | For | For | |
| | BRUCE S. GORDON | Management | For | For | |
| | RAJIV L. GUPTA | Management | For | For | |
| | JOHN A. KROL | Management | For | For | |
| | MACKEY J. MCDONALD | Management | For | For | |
| | H. CARL MCCALL | Management | For | For | |
| | BRENDAN R. O'NEILL | Management | For | For | |
| | SANDRA S. WIJNBERG | Management | For | For | |
| | JEROME B. YORK | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,200 | 3,200 | 0 | 03/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE WALT DISNEY COMPANY | | DIS | | | Annual Meeting Date: 03/10/2006 |
| Issuer: 254687106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JOHN E. BRYSON | Management | For | For | |
| | JOHN S. CHEN | Management | For | For | |
| | JUDITH L. ESTRIN | Management | For | For | |
| | ROBERT A. IGER | Management | For | For | |
| | FRED H. LANGHAMMER | Management | For | For | |
| | AYLWIN B. LEWIS | Management | For | For | |
| | MONICA C. LOZANO | Management | For | For | |
| | ROBERT W. MATSCHULLAT | Management | For | For | |
| | GEORGE J. MITCHELL | Management | For | For | |
| | LEO J. O'DONOVAN, S.J. | Management | For | For | |
| | JOHN E. PEPPER, JR. | Management | For | For | |
| | ORIN C. SMITH | Management | For | For | |
| | GARY L. WILSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - RESCIND ANTI-TAKEOVER PROVISIONS | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 10,400 | 10,400 | 0 | 03/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NOKIA CORPORATION | | NOK | | | Annual Meeting Date: 03/13/2006 |
| Issuer: 654902204 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 04 | APPROVE DISCHARGE OF SUPERVISORY BOARD | Management | For | For | |
| 05 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 06 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 07 | ELECTION OF DIRECTORS | | Management | | | |
| | PAUL J. COLLINS | Management | For | For | |
| | GEORG EHRNROOTH | Management | For | For | |
| | DANIEL R. HESSE | Management | For | For | |
| | BENGT HOLMSTROM | Management | For | For | |
| | PER KARLSSON | Management | For | For | |
| | EDOUARD MICHELIN | Management | For | For | |
| | JORMA OLLILA | Management | Withheld | Against | |
| | MARJORIE SCARDINO | Management | For | For | |
| | KEIJO SUILA | Management | For | For | |
| | VESA VAINIO | Management | For | For | |
| 08 | PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION | Management | For | For | |
| 09 | APPOINT AUDITORS | | Management | For | For | |
| 10 | AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL | Management | For | For | |
| 11 | AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL | Management | For | For | |
| 12 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| 13 | APPROVE APPROPRIATION OF DISPOSABLE PROFIT | Management | For | For | |
| 14 | TRANSACT OTHER BUSINESS | | Management | For | *Management Position Unknown |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,500 | 6,500 | 0 | 03/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| HEWLETT-PACKARD COMPANY | | HPQ | | | Annual Meeting Date: 03/15/2006 |
| Issuer: 428236103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | P.C. DUNN | Management | For | For | |
| | L.T. BABBIO, JR. | Management | For | For | |
| | S.M. BALDAUF | Management | For | For | |
| | R.A. HACKBORN | Management | For | For | |
| | J.H. HAMMERGREN | Management | For | For | |
| | M.V. HURD | Management | For | For | |
| | G.A. KEYWORTH II | Management | For | For | |
| | T.J. PERKINS | Management | For | For | |
| | R.L. RYAN | Management | For | For | |
| | L.S. SALHANY | Management | For | For | |
| | R.P. WAYMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,900 | 6,900 | 0 | 03/13/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE GOLDMAN SACHS GROUP, INC. | | GS | | | Annual Meeting Date: 03/31/2006 |
| Issuer: 38141G104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LLOYD C. BLANKFEIN | Management | For | For | |
| | LORD BROWNE OFMADINGLEY | Management | For | For | |
| | JOHN H. BRYAN | Management | For | For | |
| | CLAES DAHLBACK | Management | Withheld | Against | |
| | STEPHEN FRIEDMAN | Management | Withheld | Against | |
| | WILLIAM W. GEORGE | Management | For | For | |
| | JAMES A. JOHNSON | Management | Withheld | Against | |
| | LOIS D. JULIBER | Management | For | For | |
| | EDWARD M. LIDDY | Management | For | For | |
| | HENRY M. PAULSON, JR. | Management | For | For | |
| | RUTH J. SIMMONS | Management | For | For | |
| 02 | DEFERRED COMPENSATION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,000 | 1,000 | 0 | 03/28/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MORGAN STANLEY | | MS | | | Annual Meeting Date: 04/04/2006 |
| Issuer: 617446448 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROY J. BOSTOCK* | Management | For | For | |
| | ERSKINE B. BOWLES* | Management | For | For | |
| | C. ROBERT KIDDER* | Management | For | For | |
| | JOHN J. MACK* | Management | For | For | |
| | DONALD T. NICOLAISEN* | Management | For | For | |
| | HUTHAM S. OLAYAN* | Management | For | For | |
| | O. GRIFFITH SEXTON* | Management | For | For | |
| | HOWARD J. DAVIES** | Management | For | For | |
| | CHARLES H. NOSKI** | Management | For | For | |
| | LAURA D'ANDREA TYSON** | Management | For | For | |
| | KLAUS ZUMWINKEL** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | CLASSIFY BOARD | | Management | For | For | |
| 05 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 8,400 | 8,400 | 0 | 03/29/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BECKMAN COULTER, INC. | | BEC | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 075811109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER B. DERVAN, PH.D. | Management | For | For | |
| | SCOTT GARRETT | Management | For | For | |
| | R.J. LAVIZZO-MOUREY, MD | Management | For | For | |
| | GLENN S. SCHAFER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,400 | 2,400 | 0 | 04/07/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SCHLUMBERGER LIMITED (SCHLUMBERGER N | | SLB | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 806857108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J. DEUTCH | Management | Withheld | Against | |
| | J.S. GORELICK | Management | For | For | |
| | A. GOULD | Management | For | For | |
| | T. ISAAC | Management | For | For | |
| | A. LAJOUS | Management | For | For | |
| | A. LEVY-LANG | Management | Withheld | Against | |
| | M.E. MARKS | Management | Withheld | Against | |
| | D. PRIMAT | Management | For | For | |
| | T.I. SANDVOLD | Management | Withheld | Against | |
| | N. SEYDOUX | Management | For | For | |
| | L.G. STUNTZ | Management | For | For | |
| | R. TALWAR | Management | Withheld | Against | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | APPROVE ARTICLE AMENDMENTS | | Management | For | For | |
| 04 | AMEND STOCK OPTION PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,200 | 1,200 | 0 | 04/07/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CITIGROUP INC. | | C | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 172967101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | C. MICHAEL ARMSTRONG | Management | For | For | |
| | ALAIN J.P. BELDA | Management | For | For | |
| | GEORGE DAVID | Management | For | For | |
| | KENNETH T. DERR | Management | Withheld | Against | |
| | JOHN M. DEUTCH | Management | Withheld | Against | |
| | R. HERNANDEZ RAMIREZ | Management | Withheld | Against | |
| | ANN DIBBLE JORDAN | Management | For | For | |
| | KLAUS KLEINFELD | Management | For | For | |
| | ANDREW N. LIVERIS | Management | For | For | |
| | DUDLEY C. MECUM | Management | For | For | |
| | ANNE MULCAHY | Management | For | For | |
| | RICHARD D. PARSONS | Management | Withheld | Against | |
| | CHARLES PRINCE | Management | For | For | |
| | JUDITH RODIN | Management | For | For | |
| | ROBERT E. RUBIN | Management | For | For | |
| | FRANKLIN A. THOMAS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 7 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 8 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 9 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 10 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 11 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 12 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 14,500 | 14,500 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SPRINT NEXTEL CORPORATION | | S | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 852061100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KEITH J. BANE | Management | For | For | |
| | GORDON M. BETHUNE | Management | For | For | |
| | TIMOTHY M. DONAHUE | Management | For | For | |
| | FRANK M. DRENDEL | Management | For | For | |
| | GARY D. FORSEE | Management | For | For | |
| | JAMES H. HANCE, JR. | Management | Withheld | Against | |
| | V. JANET HILL | Management | For | For | |
| | IRVINE O. HOCKADAY, JR. | Management | Withheld | Against | |
| | WILLIAM E. KENNARD | Management | For | For | |
| | LINDA KOCH LORIMER | Management | For | For | |
| | STEPHANIE M. SHERN | Management | For | For | |
| | WILLIAM H. SWANSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 10,263 | 10,263 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| U.S. BANCORP | | USB | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 902973304 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER H. COORS | Management | For | For | |
| | JERRY A. GRUNDHOFER | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | Against | Against | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,200 | 7,200 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WACHOVIA CORPORATION | | WB | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 929903102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM H. GOODWIN, JR* | Management | Withheld | Against | |
| | ROBERT A. INGRAM* | Management | Withheld | Against | |
| | MACKEY J. MCDONALD* | Management | Withheld | Against | |
| | LANTY L. SMITH* | Management | Withheld | Against | |
| | RUTH G. SHAW* | Management | For | For | |
| | ERNEST S. RADY** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,600 | 3,600 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE COCA-COLA COMPANY | | KO | | | Annual Meeting Date: 04/19/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | HERBERT A. ALLEN | Management | For | For | |
| | RONALD W. ALLEN | Management | For | For | |
| | CATHLEEN P. BLACK | Management | For | For | |
| | BARRY DILLER | Management | For | For | |
| | E. NEVILLE ISDELL | Management | For | For | |
| | DONALD R. KEOUGH | Management | Withheld | Against | |
| | DONALD F. MCHENRY | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | JAMES D. ROBINSON III | Management | For | For | |
| | PETER V. UEBERROTH | Management | Withheld | Against | |
| | JAMES B. WILLIAMS | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND RESTRICTED STOCK AWARD PLAN | Management | Against | Against | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,000 | 6,000 | 0 | 04/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ALLTEL CORPORATION | | AT | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 020039103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLIAM H. CROWN | Management | For | For | |
| | JOE T. FORD | Management | For | For | |
| | JOHN P. MCCONNELL | Management | For | For | |
| | JOSIE C. NATORI | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,400 | 2,400 | 0 | 04/17/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BP P.L.C. | | BP | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 055622104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ADOPT ACCOUNTS FOR PAST YEAR | | Management | For | For | |
| 02 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | DR D C ALLEN | Management | For | For | |
| | LORD BROWNE | Management | For | For | |
| | MR J H BRYAN | Management | For | For | |
| | MR A BURGMANS | Management | For | For | |
| | MR I C CONN | Management | For | For | |
| | MR E B DAVIS, JR | Management | For | For | |
| | MR D J FLINT | Management | For | For | |
| | DR B E GROTE | Management | For | For | |
| | DR A B HAYWARD | Management | For | For | |
| | DR D S JULIUS | Management | For | For | |
| | SIR TOM MCKILLOP | Management | For | For | |
| | MR J A MANZONI | Management | For | For | |
| | DR W E MASSEY | Management | For | For | |
| | SIR IAN PROSSER | Management | For | For | |
| | MR M H WILSON | Management | For | For | |
| | MR P D SUTHERLAND | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 06 | ALLOT SECURITIES | | Management | For | For | |
| 07 | STOCK CONVERSION | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,092 | 5,092 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PPG INDUSTRIES, INC. | | PPG | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 693506107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CHARLES E. BUNCH | Management | For | For | |
| | ROBERT RIPP | Management | For | For | |
| | THOMAS J. USHER | Management | For | For | |
| | DAVID R. WHITWAM | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,300 | 1,300 | 0 | 04/17/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TEXAS INSTRUMENTS INCORPORATED | | TXN | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 882508104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.R. ADAMS | Management | For | For | |
| | D.L. BOREN | Management | For | For | |
| | D.A. CARP | Management | For | For | |
| | C.S. COX | Management | For | For | |
| | T.J. ENGIBOUS | Management | For | For | |
| | G.W. FRONTERHOUSE | Management | For | For | |
| | D.R. GOODE | Management | Withheld | Against | |
| | P.H. PATSLEY | Management | For | For | |
| | W.R. SANDERS | Management | For | For | |
| | R.J. SIMMONS | Management | For | For | |
| | R.K. TEMPLETON | Management | For | For | |
| | C.T. WHITMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,300 | 2,300 | 0 | 04/17/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ALCOA INC. | | AA | | | Annual Meeting Date: 04/21/2006 |
| Issuer: 013817101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | KATHRYN S. FULLER | Management | For | For | |
| | JUDITH M. GUERON | Management | For | For | |
| | ERNESTO ZEDILLO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,100 | 3,100 | 0 | 04/19/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| HONEYWELL INTERNATIONAL INC. | | HON | | | Annual Meeting Date: 04/24/2006 |
| Issuer: 438516106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | GORDON M. BETHUNE | Management | For | For | |
| | JAIME CHICO PARDO | Management | For | For | |
| | DAVID M. COTE | Management | For | For | |
| | D. SCOTT DAVIS | Management | For | For | |
| | LINNET F. DEILY | Management | For | For | |
| | CLIVE R. HOLLICK | Management | For | For | |
| | JAMES J. HOWARD | Management | For | For | |
| | BRUCE KARATZ | Management | For | For | |
| | RUSSELL E. PALMER | Management | For | For | |
| | IVAN G. SEIDENBERG | Management | For | For | |
| | BRADLEY T. SHEARES | Management | For | For | |
| | ERIC K. SHINSEKI | Management | For | For | |
| | JOHN R. STAFFORD | Management | For | For | |
| | MICHAEL W. WRIGHT | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT NON-EMPLOYEE DIRECTOR PLAN | | Management | For | For | |
| 06 | S/H PROPOSAL - ADHERE TO MACBRIDE PRINCIPLES | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ADHERE TO MACBRIDE PRINCIPLES | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | Against | For | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,900 | 2,900 | 0 | 04/19/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GOODRICH CORPORATION | | GR | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 382388106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | DIANE C. CREEL | Management | For | For | |
| | GEORGE A. DAVIDSON, JR. | Management | For | For | |
| | HARRIS E. DELOACH, JR. | Management | For | For | |
| | JAMES W. GRIFFITH | Management | For | For | |
| | WILLIAM R. HOLLAND | Management | Withheld | Against | |
| | JOHN P. JUMPER | Management | For | For | |
| | MARSHALL O. LARSEN | Management | For | For | |
| | DOUGLAS E. OLESEN | Management | For | For | |
| | ALFRED M. RANKIN, JR. | Management | For | For | |
| | JAMES R. WILSON | Management | For | For | |
| | A. THOMAS YOUNG | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,900 | 1,900 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| L-3 COMMUNICATIONS HOLDINGS, INC. | | LLL | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 502424104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER A. COHEN | Management | For | For | |
| | ROBERT B. MILLARD | Management | For | For | |
| | ARTHUR L. SIMON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND STOCK PURCHASE PLAN | | Management | Abstain | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,000 | 1,000 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MEADWESTVACO CORPORATION | | MWV | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 583334107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JAMES G. KAISER | Management | For | For | |
| | RICHARD B. KELSON | Management | For | For | |
| | JOHN A. KROL | Management | For | For | |
| | JOHN A. LUKE, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | DIRECTOR REMOVAL | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,000 | 1,000 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MERCK & CO., INC. | | MRK | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 589331107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | RICHARD T. CLARK | Management | For | For | |
| | LAWRENCE A. BOSSIDY | Management | For | For | |
| | WILLIAM G. BOWEN | Management | For | For | |
| | JOHNNETTA B. COLE | Management | Withheld | Against | |
| | WILLIAM B. HARRISON, JR | Management | For | For | |
| | WILLIAM N. KELLEY | Management | Withheld | Against | |
| | ROCHELLE B. LAZARUS | Management | Withheld | Against | |
| | THOMAS E. SHENK | Management | For | For | |
| | ANNE M. TATLOCK | Management | For | For | |
| | SAMUEL O. THIER | Management | For | For | |
| | WENDELL P. WEEKS | Management | For | For | |
| | PETER C. WENDELL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT NON-EMPLOYEE DIRECTOR PLAN | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,300 | 5,300 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE PNC FINANCIAL SERVICES GROUP, IN | | PNC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 693475105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MR. CHELLGREN | Management | For | For | |
| | MR. CLAY | Management | For | For | |
| | MR. COOPER | Management | Withheld | Against | |
| | MR. DAVIDSON | Management | For | For | |
| | MS. JAMES | Management | For | For | |
| | MR. KELSON | Management | For | For | |
| | MR. LINDSAY | Management | For | For | |
| | MR. MASSARO | Management | For | For | |
| | MR. O'BRIEN | Management | For | For | |
| | MS. PEPPER | Management | For | For | |
| | MR. ROHR | Management | For | For | |
| | MS. STEFFES | Management | For | For | |
| | MR. STRIGL | Management | For | For | |
| | MR. THIEKE | Management | For | For | |
| | MR. USHER | Management | Withheld | Against | |
| | MR. WALLS | Management | For | For | |
| | MR. WEHMEIER | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,100 | 6,100 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WELLS FARGO & COMPANY | | WFC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 949746101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LLOYD H. DEAN | Management | For | For | |
| | SUSAN E. ENGEL | Management | For | For | |
| | ENRIQUE HERNANDEZ, JR. | Management | Withheld | Against | |
| | ROBERT L. JOSS | Management | For | For | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | RICHARD D. MCCORMICK | Management | For | For | |
| | CYNTHIA H. MILLIGAN | Management | Withheld | Against | |
| | NICHOLAS G. MOORE | Management | For | For | |
| | PHILIP J. QUIGLEY | Management | Withheld | Against | |
| | DONALD B. RICE | Management | Withheld | Against | |
| | JUDITH M. RUNSTAD | Management | For | For | |
| | STEPHEN W. SANGER | Management | For | For | |
| | SUSAN G. SWENSON | Management | For | For | |
| | MICHAEL W. WRIGHT | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,900 | 3,900 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BALL CORPORATION | | BLL | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 058498106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | HOWARD M. DEAN | Management | For | For | |
| | R. DAVID HOOVER | Management | For | For | |
| | JAN NICHOLSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 700 | 700 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BANK OF AMERICA CORPORATION | | BAC | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 060505104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM BARNET, III | Management | For | For | |
| | FRANK P. BRAMBLE, SR. | Management | For | For | |
| | JOHN T. COLLINS | Management | For | For | |
| | GARY L. COUNTRYMAN | Management | Withheld | Against | |
| | TOMMY R. FRANKS | Management | For | For | |
| | PAUL FULTON | Management | Withheld | Against | |
| | CHARLES K. GIFFORD | Management | For | For | |
| | W. STEVEN JONES | Management | For | For | |
| | KENNETH D. LEWIS | Management | For | For | |
| | MONICA C. LOZANO | Management | For | For | |
| | WALTER E. MASSEY | Management | For | For | |
| | THOMAS J. MAY | Management | For | For | |
| | PATRICIA E. MITCHELL | Management | For | For | |
| | THOMAS M. RYAN | Management | For | For | |
| | O. TEMPLE SLOAN, JR. | Management | For | For | |
| | MEREDITH R. SPANGLER | Management | For | For | |
| | ROBERT L. TILLMAN | Management | For | For | |
| | JACKIE M. WARD | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT STOCK OPTION PLAN | | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 13,300 | 13,300 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CHEVRON CORPORATION | | CVX | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 166764100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | S.H. ARMACOST | Management | Withheld | Against | |
| | L.F. DEILY | Management | For | For | |
| | R.E. DENHAM | Management | For | For | |
| | R.J. EATON | Management | For | For | |
| | S. GINN | Management | For | For | |
| | F.G. JENIFER | Management | For | For | |
| | S. NUNN | Management | For | For | |
| | D.J. O'REILLY | Management | For | For | |
| | D.B. RICE | Management | Withheld | Against | |
| | P.J. ROBERTSON | Management | For | For | |
| | C.R. SHOEMATE | Management | For | For | |
| | R.D. SUGAR | Management | For | For | |
| | C. WARE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 08 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,601 | 7,601 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GENERAL ELECTRIC COMPANY | | GE | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 369604103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| A | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES I. CASH, JR. | Management | For | For | |
| | SIR WILLIAM M. CASTELL | Management | For | For | |
| | ANN M. FUDGE | Management | For | For | |
| | CLAUDIO X. GONZALEZ | Management | Withheld | Against | |
| | JEFFREY R. IMMELT | Management | For | For | |
| | ANDREA JUNG | Management | For | For | |
| | ALAN G. LAFLEY | Management | For | For | |
| | ROBERT W. LANE | Management | For | For | |
| | RALPH S. LARSEN | Management | For | For | |
| | ROCHELLE B. LAZARUS | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | ROGER S. PENSKE | Management | For | For | |
| | ROBERT J. SWIERINGA | Management | For | For | |
| | DOUGLAS A. WARNER III | Management | For | For | |
| | ROBERT C. WRIGHT | Management | For | For | |
| B | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 01 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 02 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 21,400 | 21,400 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| KOHL'S CORPORATION | | KSS | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 500255104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JAY H. BAKER | Management | Withheld | Against | |
| | STEVEN A. BURD | Management | Withheld | Against | |
| | KEVIN MANSELL | Management | For | For | |
| | PETER M. SOMMERHAUSER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,000 | 1,000 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE STANLEY WORKS | | SWK | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 854616109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | EILEEN S. KRAUS | Management | For | For | |
| | LAWRENCE A. ZIMMERMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,400 | 3,400 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| W.W. GRAINGER, INC. | | GWW | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 384802104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRIAN P. ANDERSON | Management | For | For | |
| | WILBUR H. GANTZ | Management | For | For | |
| | DAVID W. GRAINGER | Management | For | For | |
| | V. ANN HAILEY | Management | For | For | |
| | WILLIAM K. HALL | Management | Withheld | Against | |
| | RICHARD L. KEYSER | Management | For | For | |
| | STUART L. LEVENICK | Management | For | For | |
| | JOHN W. MCCARTER, JR. | Management | For | For | |
| | NEIL S. NOVICH | Management | For | For | |
| | MICHAEL J. ROBERTS | Management | For | For | |
| | GARY L. ROGERS | Management | For | For | |
| | JAMES D. SLAVIK | Management | For | For | |
| | HAROLD B. SMITH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,100 | 1,100 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| DELTIC TIMBER CORPORATION | | DEL | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 247850100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RAY C. DILLON | Management | For | For | |
| | ALEX R. LIEBLONG | Management | For | For | |
| | ROBERT C. NOLAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 4,000 | 4,000 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| JOHNSON & JOHNSON | | JNJ | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 478160104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MARY S. COLEMAN | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | ROBERT J. DARRETTA | Management | For | For | |
| | MICHAEL M. E. JOHNS | Management | For | For | |
| | ANN D. JORDAN | Management | For | For | |
| | ARNOLD G. LANGBO | Management | For | For | |
| | SUSAN L. LINDQUIST | Management | For | For | |
| | LEO F. MULLIN | Management | For | For | |
| | CHRISTINE A. POON | Management | For | For | |
| | CHARLES PRINCE | Management | For | For | |
| | STEVEN S REINEMUND | Management | For | For | |
| | DAVID SATCHER | Management | For | For | |
| | WILLIAM C. WELDON | Management | For | For | |
| 02 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS | Shareholder | For | Against | |
| TO BE INDEPENDENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 9,200 | 9,200 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| KIMBERLY-CLARK CORPORATION | | KMB | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 494368103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS R. BERESFORD | Management | For | For | |
| | ABELARDO E. BRU | Management | For | For | |
| | THOMAS J. FALK | Management | For | For | |
| | MAE C. JEMISON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,200 | 2,200 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PFIZER INC. | | PFE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 717081103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MICHAEL S. BROWN | Management | For | For | |
| | M. ANTHONY BURNS | Management | For | For | |
| | ROBERT N. BURT | Management | For | For | |
| | W. DON CORNWELL | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | WILLIAM R. HOWELL | Management | Withheld | Against | |
| | STANLEY O. IKENBERRY | Management | For | For | |
| | GEORGE A. LORCH | Management | For | For | |
| | HENRY A. MCKINNELL | Management | For | For | |
| | DANA G. MEAD | Management | For | For | |
| | RUTH J. SIMMONS | Management | For | For | |
| | WILLIAM C. STEERE, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 08 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 10 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 21,555 | 21,555 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SENSIENT TECHNOLOGIES CORPORATION | | SXT | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 81725T100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | HANK BROWN | Management | For | For | |
| | FERGUS M. CLYDESDALE | Management | For | For | |
| | JAMES A.D. CROFT | Management | For | For | |
| | WILLIAM V. HICKEY | Management | For | For | |
| | KENNETH P. MANNING | Management | For | For | |
| | PETER M. SALMON | Management | For | For | |
| | ELAINE R. WEDRAL | Management | For | For | |
| | ESSIE WHITELAW | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,400 | 7,400 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WYETH | | | WYE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 983024100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | R. ESSNER | Management | For | For | |
| | J.D. FEERICK | Management | For | For | |
| | F.D. FERGUSSON | Management | For | For | |
| | V.F. GANZI | Management | For | For | |
| | R. LANGER | Management | For | For | |
| | J.P. MASCOTTE | Management | For | For | |
| | M.L. POLAN | Management | For | For | |
| | G.L. ROGERS | Management | For | For | |
| | I.G. SEIDENBERG | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.R. TORELL III | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,100 | 3,100 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ABBOTT LABORATORIES | | ABT | | | Annual Meeting Date: 04/28/2006 |
| Issuer: 002824100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | R.S. AUSTIN | Management | For | For | |
| | W.M. DALEY | Management | For | For | |
| | W.J. FARRELL | Management | Withheld | Against | |
| | H.L. FULLER | Management | For | For | |
| | R.A. GONZALEZ | Management | For | For | |
| | J.M. GREENBERG | Management | Withheld | Against | |
| | D.A.L. OWEN | Management | For | For | |
| | B. POWELL JR. | Management | For | For | |
| | W.A. REYNOLDS | Management | Withheld | Against | |
| | R.S. ROBERTS | Management | For | For | |
| | W.D. SMITHBURG | Management | For | For | |
| | J.R. WALTER | Management | Withheld | Against | |
| | M.D. WHITE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 4,200 | 4,200 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MOTOROLA, INC. | | MOT | | | Annual Meeting Date: 05/01/2006 |
| Issuer: 620076109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1F | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1G | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1H | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1I | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1J | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1K | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1L | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,200 | 6,200 | 0 | 04/26/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ZIMMER HOLDINGS, INC. | | ZMH | | | Annual Meeting Date: 05/01/2006 |
| Issuer: 98956P102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | STUART M. ESSIG | Management | For | For | |
| | A.A. WHITE III, MD PHD | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,460 | 1,460 | 0 | 04/26/2006 |
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| ALLERGAN, INC. | | AGN | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 018490102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | HERBERT W. BOYER, PH.D. | Management | For | For | |
| | ROBERT A. INGRAM | Management | Withheld | Against | |
| | DAVID E.I. PYOTT | Management | For | For | |
| | RUSSELL T. RAY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND NON-EMPLOYEE DIRECTOR PLAN | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,700 | 1,700 | 0 | 04/26/2006 |
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| AMEREN CORPORATION | | AEE | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 023608102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | SUSAN S. ELLIOTT | Management | For | For | |
| | GAYLE P.W. JACKSON | Management | For | For | |
| | JAMES C. JOHNSON | Management | For | For | |
| | RICHARD A. LIDDY | Management | For | For | |
| | GORDON R. LOHMAN | Management | For | For | |
| | RICHARD A. LUMPKIN | Management | For | For | |
| | CHARLES W. MUELLER | Management | For | For | |
| | DOUGLAS R. OBERHELMAN | Management | Withheld | Against | |
| | GARY L. RAINWATER | Management | For | For | |
| | HARVEY SALIGMAN | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,000 | 3,000 | 0 | 04/26/2006 |
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| BRISTOL-MYERS SQUIBB COMPANY | | BMY | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 110122108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | R.E. ALLEN | Management | For | For | |
| | L.B. CAMPBELL | Management | For | For | |
| | V.D. COFFMAN | Management | For | For | |
| | J.M. CORNELIUS | Management | Withheld | Against | |
| | P.R. DOLAN | Management | For | For | |
| | L.J. FREEH | Management | For | For | |
| | L.H. GLIMCHER, M.D. | Management | For | For | |
| | L. JOHANSSON | Management | For | For | |
| | J.D. ROBINSON III | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,800 | 5,800 | 0 | 04/26/2006 |
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| DANAHER CORPORATION | | DHR | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 235851102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MORTIMER M. CAPLIN | Management | For | For | |
| | DONALD J. EHRLICH | Management | For | For | |
| | LINDA P. HEFNER | Management | For | For | |
| | WALTER G. LOHR, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,400 | 1,400 | 0 | 04/26/2006 |
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| SIGMA-ALDRICH CORPORATION | | SIAL | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 826552101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | NINA V. FEDOROFF | Management | For | For | |
| | DAVID R. HARVEY | Management | For | For | |
| | W. LEE MCCOLLUM | Management | For | For | |
| | JAI P. NAGARKATTI | Management | For | For | |
| | AVI M. NASH | Management | For | For | |
| | WILLIAM C. O'NEIL, JR. | Management | For | For | |
| | J. PEDRO REINHARD | Management | Withheld | Against | |
| | TIMOTHY R.G. SEAR | Management | For | For | |
| | D. DEAN SPATZ | Management | For | For | |
| | BARRETT A. TOAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 400 | 400 | 0 | 04/26/2006 |
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| STARWOOD HOTELS & RESORTS WORLDWIDE, | | HOT | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 85590A203 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | HEYER | Management | For | For | |
| | BARSHEFSKY | Management | For | For | |
| | CHAPUS | Management | For | For | |
| | DUNCAN | Management | For | For | |
| | GALBREATH | Management | For | For | |
| | HIPPEAU | Management | For | For | |
| | QUAZZO | Management | For | For | |
| | RYDER | Management | For | For | |
| | YIH | Management | For | For | |
| | YOUNGBLOOD | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,700 | 3,700 | 0 | 05/01/2006 |
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| BRUNSWICK CORPORATION | | BC | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 117043109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MICHAEL J. CALLAHAN | Management | For | For | |
| | MANUEL A. FERNANDEZ | Management | Withheld | Against | |
| | PETER B. HAMILTON | Management | For | For | |
| | ROGER W. SCHIPKE | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 4,700 | 4,700 | 0 | 05/01/2006 |
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| GENERAL DYNAMICS CORPORATION | | GD | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 369550108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | N.D. CHABRAJA | Management | For | For | |
| | J.S. CROWN | Management | For | For | |
| | W.P. FRICKS | Management | For | For | |
| | C.H. GOODMAN | Management | For | For | |
| | J.L. JOHNSON | Management | For | For | |
| | G.A. JOULWAN | Management | For | For | |
| | P.G. KAMINSKI | Management | For | For | |
| | J.M. KEANE | Management | For | For | |
| | D.J. LUCAS | Management | For | For | |
| | L.L. LYLES | Management | For | For | |
| | C.E. MUNDY, JR. | Management | For | For | |
| | R. WALMSLEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 700 | 700 | 0 | 05/01/2006 |
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| PEPSICO, INC. | | PEP | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 713448108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.F. AKERS | Management | For | For | |
| | R.E. ALLEN | Management | For | For | |
| | D. DUBLON | Management | For | For | |
| | V.J. DZAU | Management | For | For | |
| | R.L. HUNT | Management | Withheld | Against | |
| | A. IBARGUEN | Management | For | For | |
| | A.C. MARTINEZ | Management | Withheld | Against | |
| | I.K. NOOYI | Management | For | For | |
| | S.S REINEMUND | Management | For | For | |
| | S.P. ROCKEFELLER | Management | For | For | |
| | J.J. SCHIRO | Management | For | For | |
| | F.A. THOMAS | Management | For | For | |
| | C.M. TRUDELL | Management | For | For | |
| | D. VASELLA | Management | For | For | |
| | M.D. WHITE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,000 | 3,000 | 0 | 05/01/2006 |
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| THE ST. PAUL TRAVELERS COMPANIES, IN | | STA | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 792860108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN H. DASBURG | Management | For | For | |
| | LESLIE B. DISHAROON | Management | For | For | |
| | JANET M. DOLAN | Management | For | For | |
| | KENNETH M. DUBERSTEIN | Management | Withheld | Against | |
| | JAY S. FISHMAN | Management | For | For | |
| | LAWRENCE G. GRAEV | Management | For | For | |
| | THOMAS R. HODGSON | Management | For | For | |
| | ROBERT I. LIPP | Management | For | For | |
| | BLYTHE J. MCGARVIE | Management | For | For | |
| | GLEN D. NELSON, MD | Management | Withheld | Against | |
| | LAURIE J. THOMSEN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | | | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,254 | 5,254 | 0 | 05/01/2006 |
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| EASTMAN CHEMICAL COMPANY | | EMN | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 277432100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | STEPHEN R. DEMERITT | Management | For | For | |
| | ROBERT M. HERNANDEZ | Management | For | For | |
| | DAVID W. RAISBECK | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 600 | 600 | 0 | 05/02/2006 |
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| EMC CORPORATION | | EMC | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 268648102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | GAIL DEEGAN | Management | For | For | |
| | OLLI-PEKKA KALLASVUO | Management | For | For | |
| | WINDLE B. PRIEM | Management | For | For | |
| | ALFRED M. ZEIEN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - AUDIT COMMITTEE | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 20,100 | 20,100 | 0 | 05/02/2006 |
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| LOUISIANA-PACIFIC CORPORATION | | LPX | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 546347105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ARCHIE W. DUNHAM | Management | For | For | |
| | DANIEL K. FRIERSON | Management | For | For | |
| | RICHARD W. FROST | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,000 | 1,000 | 0 | 05/02/2006 |
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| VERIZON COMMUNICATIONS INC. | | VZ | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 92343V104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.R. BARKER | Management | Withheld | Against | |
| | R.L. CARRION | Management | Withheld | Against | |
| | R.W. LANE | Management | For | For | |
| | S.O. MOOSE | Management | For | For | |
| | J. NEUBAUER | Management | For | For | |
| | D.T. NICOLAISEN | Management | For | For | |
| | T.H. O'BRIEN | Management | For | For | |
| | C. OTIS, JR. | Management | For | For | |
| | H.B. PRICE | Management | For | For | |
| | I.G. SEIDENBERG | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.R. STAFFORD | Management | For | For | |
| | R.D. STOREY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 08 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,580 | 2,580 | 0 | 05/02/2006 |
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| WISCONSIN ENERGY CORPORATION | | WEC | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 976657106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN F. AHEARNE | Management | For | For | |
| | JOHN F. BERGSTROM | Management | Withheld | Against | |
| | BARBARA L. BOWLES | Management | For | For | |
| | ROBERT A. CORNOG | Management | For | For | |
| | CURT S. CULVER | Management | For | For | |
| | THOMAS J. FISCHER | Management | For | For | |
| | GALE E. KLAPPA | Management | For | For | |
| | ULICE PAYNE, JR. | Management | For | For | |
| | F.P. STRATTON, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,600 | 1,600 | 0 | 05/02/2006 |
| | | | | | |
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| | | | | | |
| ILLINOIS TOOL WORKS INC. | | ITW | | | Annual Meeting Date: 05/05/2006 |
| Issuer: 452308109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLIAM F. ALDINGER | Management | For | For | |
| | MICHAEL J. BIRCK | Management | For | For | |
| | MARVIN D. BRAILSFORD | Management | For | For | |
| | SUSAN CROWN | Management | For | For | |
| | DON H. DAVIS, JR. | Management | For | For | |
| | ROBERT C. MCCORMACK | Management | For | For | |
| | ROBERT S. MORRISON | Management | For | For | |
| | JAMES A. SKINNER | Management | For | For | |
| | HAROLD B. SMITH | Management | For | For | |
| | DAVID B. SPEER | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | Against | Against | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 900 | 900 | 0 | 05/03/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| RYDER SYSTEM, INC. | | R | | | Annual Meeting Date: 05/05/2006 |
| Issuer: 783549108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | L. PATRICK HASSEY* | Management | For | For | |
| | JOHN M. BERRA** | Management | Withheld | Against | |
| | DANIEL H. MUDD** | Management | For | For | |
| | E. FOLLIN SMITH** | Management | For | For | |
| | GREGORY T. SWIENTON** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,800 | 1,800 | 0 | 05/03/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CUMMINS INC. | | CMI | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 231021106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ROBERT J. DARNALL | Management | Withheld | Against | |
| | JOHN M. DEUTCH | Management | For | For | |
| | ALEXIS M. HERMAN | Management | For | For | |
| | F. JOSEPH LOUGHREY | Management | For | For | |
| | WILLIAM I. MILLER | Management | Withheld | Against | |
| | GEORGIA R. NELSON | Management | For | For | |
| | THEODORE M. SOLSO | Management | For | For | |
| | CARL WARE | Management | For | For | |
| | J. LAWRENCE WILSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 700 | 700 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| INTERNATIONAL FLAVORS & FRAGRANCES I | | IFF | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 459506101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MARGARET HAYES ADAME | Management | For | For | |
| | GUNTER BLOBEL | Management | For | For | |
| | J. MICHAEL COOK | Management | For | For | |
| | PETER A. GEORGESCU | Management | For | For | |
| | ALEXANDRA A. HERZAN | Management | For | For | |
| | HENRY W. HOWELL, JR. | Management | For | For | |
| | ARTHUR C. MARTINEZ | Management | For | For | |
| | BURTON M. TANSKY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 900 | 900 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ITT INDUSTRIES, INC. | | ITT | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 450911102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| A | ELECTION OF DIRECTORS | | Management | For | | |
| | STEVEN R. LORANGER | Management | For | For | |
| | CURTIS J. CRAWFORD | Management | For | For | |
| | CHRISTINA A. GOLD | Management | For | For | |
| | RALPH F. HAKE | Management | For | For | |
| | JOHN J. HAMRE | Management | For | For | |
| | RAYMOND W. LEBOEUF | Management | For | For | |
| | FRANK T. MACINNIS | Management | For | For | |
| | LINDA S. SANFORD | Management | For | For | |
| | MARKOS I. TAMBAKERAS | Management | For | For | |
| B | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| C | APPROVE COMPANY NAME CHANGE | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,500 | 1,500 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NEWELL RUBBERMAID INC. | | NWL | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 651229106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | THOMAS E. CLARKE | Management | For | For | |
| | E. CUTHBERT MILLETT | Management | For | For | |
| | STEVEN J. STROBEL | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,800 | 3,800 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PRUDENTIAL FINANCIAL, INC. | | PRU | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 744320102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | FREDERIC K. BECKER | Management | For | For | |
| | GORDON M. BETHUNE | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | JON F. HANSON | Management | For | For | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | JAMES A. UNRUH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | For | Against | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,059 | 1,059 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WEATHERFORD INTERNATIONAL LTD. | | WFT | | | Annual Meeting Date: 05/09/2006 |
| Issuer: G95089101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | NICHOLAS F. BRADY | Management | Withheld | Against | |
| | WILLIAM E. MACAULAY | Management | Withheld | Against | |
| | DAVID J. BUTTERS | Management | Withheld | Against | |
| | ROBERT B. MILLARD | Management | Withheld | Against | |
| | BERNARD J. DUROC-DANNER | Management | Withheld | Against | |
| | ROBERT K. MOSES, JR. | Management | For | For | |
| | SHELDON B. LUBAR | Management | For | For | |
| | ROBERT A. RAYNE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,600 | 3,600 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| AMGEN INC. | | AMGN | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 031162100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MR. FREDERICK W. GLUCK | Management | For | For | |
| | ADM. J. PAUL REASON | Management | For | For | |
| | DR. DONALD B. RICE | Management | Withheld | Against | |
| | MR. LEONARD D SCHAEFFER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 3A | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 3B | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 3C | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 3D | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 3E | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 3F | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,500 | 2,500 | 0 | 05/08/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ANADARKO PETROLEUM CORPORATION | | APC | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 032511107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROBERT J. ALLISON, JR. | Management | For | For | |
| | JOHN W. PODUSKA, SR. | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,800 | 1,800 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NORFOLK SOUTHERN CORPORATION | | NSC | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 655844108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DANIEL A. CARP | Management | For | For | |
| | STEVEN F. LEER | Management | For | For | |
| | CHARLES W. MOORMAN, IV | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,600 | 1,600 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NUCOR CORPORATION | | NUE | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 670346105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CLAYTON C. DALEY, JR. | Management | For | For | |
| | HARVEY B. GANTT | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | Against | Against | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 600 | 600 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE DOW CHEMICAL COMPANY | | DOW | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 260543103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JACQUELINE K. BARTON | Management | For | For | |
| | JAMES A. BELL | Management | For | For | |
| | BARBARA H. FRANKLIN | Management | For | For | |
| | ANDREW N. LIVERIS | Management | For | For | |
| | GEOFFERY E. MERSZEI | Management | For | For | |
| | J. PEDRO REINHARD | Management | For | For | |
| | RUTH G. SHAW | Management | For | For | |
| | PAUL G. STERN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - REPORT ON GENE EGINEERED PRODUCTS | Shareholder | | | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,600 | 1,600 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| JPMORGAN CHASE & CO. | | JPM | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 46625H100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN H. BIGGS | Management | For | For | |
| | STEPHEN B. BURKE | Management | For | For | |
| | JAMES S. CROWN | Management | For | For | |
| | JAMES DIMON | Management | For | For | |
| | ELLEN V. FUTTER | Management | For | For | |
| | WILLIAM H. GRAY, III | Management | Withheld | Against | |
| | WILLIAM B. HARRISON, JR | Management | For | For | |
| | LABAN P. JACKSON, JR. | Management | For | For | |
| | JOHN W. KESSLER | Management | For | For | |
| | ROBERT I. LIPP | Management | For | For | |
| | RICHARD A. MANOOGIAN | Management | For | For | |
| | DAVID C. NOVAK | Management | For | For | |
| | LEE R. RAYMOND | Management | For | For | |
| | WILLIAM C. WELDON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 04 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - SEPARATE CHAIRMAN/CEO | Shareholder | | | |
| 06 | S/H - CREATE A NON-DISCRIMATORY SEXUAL ORIENTATION | Shareholder | Against | For | |
| POLICY | | | | | |
| 07 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 10 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 11 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 12 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 13 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,092 | 2,092 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE ALLSTATE CORPORATION | | ALL | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 020002101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | F. DUANE ACKERMAN | Management | For | For | |
| | JAMES G. ANDRESS | Management | For | For | |
| | W. JAMES FARRELL | Management | Withheld | Against | |
| | JACK M. GREENBERG | Management | Withheld | Against | |
| | RONALD T. LEMAY | Management | For | For | |
| | EDWARD M. LIDDY | Management | For | For | |
| | J. CHRISTOPHER REYES | Management | Withheld | Against | |
| | H. JOHN RILEY, JR. | Management | For | For | |
| | JOSHUA I. SMITH | Management | For | For | |
| | JUDITH A. SPRIESER | Management | Withheld | Against | |
| | MARY ALICE TAYLOR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE STOCK COMPENSATION PLAN | | Management | | | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,300 | 2,300 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| AMERICAN INTERNATIONAL GROUP, INC. | | AIG | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 026874107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PEI-YUAN CHIA | Management | For | For | |
| | MARSHALL A. COHEN | Management | Withheld | Against | |
| | MARTIN S. FELDSTEIN | Management | For | For | |
| | ELLEN V. FUTTER | Management | For | For | |
| | STEPHEN L. HAMMERMAN | Management | For | For | |
| | RICHARD C. HOLBROOKE | Management | For | For | |
| | FRED H. LANGHAMMER | Management | For | For | |
| | GEORGE L. MILES, JR. | Management | For | For | |
| | MORRIS W. OFFIT | Management | For | For | |
| | JAMES F. ORR III | Management | For | For | |
| | MARTIN J. SULLIVAN | Management | For | For | |
| | MICHAEL H. SUTTON | Management | For | For | |
| | EDMUND S.W. TSE | Management | For | For | |
| | ROBERT B. WILLUMSTAD | Management | For | For | |
| | FRANK G. ZARB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,731 | 5,731 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EQUIFAX INC. | | EFX | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 294429105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | GARRY BETTY | Management | For | For | |
| | LARRY L. PRINCE | Management | For | For | |
| | RICHARD F. SMITH | Management | For | For | |
| | JACQUELYN M. WARD | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND CASH/STOCK BONUS PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,100 | 2,100 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GENWORTH FINANCIAL, INC. | | GNW | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 37247D106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | FRANK J. BORELLI | Management | For | For | |
| | MICHAEL D. FRAIZER | Management | For | For | |
| | NANCY J. KARCH | Management | For | For | |
| | J. ROBERT 'BOB' KERREY | Management | For | For | |
| | SAIYID T. NAQVI | Management | For | For | |
| | JAMES A. PARKE | Management | For | For | |
| | JAMES S. RIEPE | Management | For | For | |
| | THOMAS B. WHEELER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 6,200 | 6,200 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| HOSPIRA, INC. | | HSP | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 441060100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RONALD A. MATRICARIA* | Management | For | For | |
| | CHRISTOPHER B. BEGLEY** | Management | For | For | |
| | JOHN C. STALEY** | Management | For | For | |
| | MARK F. WHEELER*** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 420 | 420 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| INTEL CORPORATION | | INTC | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 458140100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1F | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1G | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1H | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1I | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1J | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1K | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED | Management | For | For | |
| 03 | AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 06 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 13,000 | 13,000 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NORTHROP GRUMMAN CORPORATION | | NOC | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 666807102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN T. CHAIN, JR. | Management | Withheld | Against | |
| | VIC FAZIO | Management | For | For | |
| | STEPHEN E. FRANK | Management | Withheld | Against | |
| | CHARLES R. LARSON | Management | For | For | |
| | RICHARD B. MYERS | Management | For | For | |
| | RONALD D. SUGAR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 04 | S/H PROPOSAL - ESTABLISH INDEPENDENT CHAIRMAN | Shareholder | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,200 | 1,200 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TARGET CORPORATION | | TGT | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 87612E106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | GEORGE W. TAMKE | Management | For | For | |
| | SOLOMON D. TRUJILLO | Management | For | For | |
| | ROBERT J. ULRICH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,000 | 2,000 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| COMCAST CORPORATION | | CMCSA | | | Annual Meeting Date: 05/18/2006 |
| Issuer: 20030N101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | S. DECKER ANSTROM | Management | For | For | |
| | KENNETH J. BACON | Management | For | For | |
| | SHELDON M. BONOVITZ | Management | For | For | |
| | EDWARD D. BREEN | Management | For | For | |
| | JULIAN A. BRODSKY | Management | For | For | |
| | JOSEPH J. COLLINS | Management | For | For | |
| | J. MICHAEL COOK | Management | For | For | |
| | JEFFREY A. HONICKMAN | Management | For | For | |
| | BRIAN L. ROBERTS | Management | For | For | |
| | RALPH J. ROBERTS | Management | For | For | |
| | DR. JUDITH RODIN | Management | Withheld | Against | |
| | MICHAEL I. SOVERN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | ADOPT RESTRICTED STOCK AWARD PLAN | Management | For | For | |
| 06 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 09 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 10 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,500 | 3,500 | 0 | 05/16/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| J. C. PENNEY COMPANY, INC. | | JCP | | | Annual Meeting Date: 05/19/2006 |
| Issuer: 708160106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | V.E. JORDAN, JR. | Management | Withheld | Against | |
| | B. OSBORNE | Management | For | For | |
| | M.B. STONE WEST | Management | For | For | |
| | R.G. TURNER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,200 | 2,200 | 0 | 05/17/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TIME WARNER INC. | | TWX | | | Annual Meeting Date: 05/19/2006 |
| Issuer: 887317105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES L. BARKSDALE | Management | For | For | |
| | STEPHEN F. BOLLENBACH | Management | For | For | |
| | FRANK J. CAUFIELD | Management | For | For | |
| | ROBERT C. CLARK | Management | For | For | |
| | JESSICA P. EINHORN | Management | For | For | |
| | REUBEN MARK | Management | For | For | |
| | MICHAEL A. MILES | Management | Withheld | Against | |
| | KENNETH J. NOVACK | Management | For | For | |
| | RICHARD D. PARSONS | Management | For | For | |
| | FRANCIS T. VINCENT, JR. | Management | For | For | |
| | DEBORAH C. WRIGHT | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 9,000 | 9,000 | 0 | 05/17/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| LIMITED BRANDS, INC. | | LTD | | | Annual Meeting Date: 05/22/2006 |
| Issuer: 532716107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | E. GORDON GEE | Management | Withheld | Against | |
| | JAMES L. HESKETT | Management | For | For | |
| | ALLAN R. TESSLER | Management | For | For | |
| | ABIGAIL S. WEXNER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 7,600 | 7,600 | 0 | 05/19/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE SOUTHERN COMPANY | | SO | | | Annual Meeting Date: 05/24/2006 |
| Issuer: 842587107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.P. BARANCO | Management | For | For | |
| | D.J. BERN | Management | For | For | |
| | F.S. BLAKE | Management | Withheld | Against | |
| | T.F. CHAPMAN | Management | For | For | |
| | D.M. JAMES | Management | Withheld | Against | |
| | Z.T. PATE | Management | For | For | |
| | J.N. PURCELL | Management | For | For | |
| | D.M. RATCLIFFE | Management | For | For | |
| | W.G. SMITH, JR. | Management | For | For | |
| | G.J. ST. PE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | Against | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,600 | 1,600 | 0 | 05/22/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CENTERPOINT ENERGY, INC. | | CNP | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 15189T107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DERRILL CODY | Management | For | For | |
| | DAVID M. MCCLANAHAN | Management | For | For | |
| | ROBERT T. O'CONNELL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND CASH/STOCK BONUS PLAN | | Management | For | For | |
| 04 | AMEND CASH/STOCK BONUS PLAN | | Management | For | For | |
| 05 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| 06 | TRANSACT OTHER BUSINESS | | Management | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 5,500 | 5,500 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| LOWE'S COMPANIES, INC. | | LOW | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 548661107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PETER C. BROWNING | Management | Withheld | Against | |
| | MARSHALL O. LARSEN | Management | For | For | |
| | STEPHEN F. PAGE | Management | For | For | |
| | O. TEMPLE SLOAN, JR. | Management | For | For | |
| 02 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | APPROVE ARTICLE AMENDMENTS | | Management | For | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,900 | 2,900 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| R.R. DONNELLEY & SONS COMPANY | | RRD | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 257867101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | THOMAS S. JOHNSON | Management | Withheld | Against | |
| | JOHN C. POPE | Management | Withheld | Against | |
| | LIONEL H. SCHIPPER, CM | Management | For | For | |
| | NORMAN H. WESLEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 2,300 | 2,300 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PHELPS DODGE CORPORATION | | PD | | | Annual Meeting Date: 05/26/2006 |
| Issuer: 717265102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | C. KRULAK | Management | For | For | |
| | D. MCCOY | Management | For | For | |
| | W. POST | Management | For | For | |
| | M. RICHENHAGEN | Management | For | For | |
| | J. THOMPSON | Management | For | For | |
| 02 | ADOPT DIRECTOR STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 400 | 400 | 0 | 05/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EXXON MOBIL CORPORATION | | XOM | | | Annual Meeting Date: 05/31/2006 |
| Issuer: 30231G102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | M.J. BOSKIN | Management | For | For | |
| | W.W. GEORGE | Management | For | For | |
| | J.R. HOUGHTON | Management | For | For | |
| | W.R. HOWELL | Management | Withheld | Against | |
| | R.C. KING | Management | For | For | |
| | P.E. LIPPINCOTT | Management | For | For | |
| | H.A. MCKINNELL, JR. | Management | For | For | |
| | M.C. NELSON | Management | For | For | |
| | S.J. PALMISANO | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.S. SIMON | Management | For | For | |
| | R.W. TILLERSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 09 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | For | Against | |
| 11 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 12 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 14 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 15 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 13,000 | 13,000 | 0 | 05/26/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WAL-MART STORES, INC. | | WMT | | | Annual Meeting Date: 06/02/2006 |
| Issuer: 931142103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | AIDA M. ALVAREZ | Management | For | For | |
| | JAMES W. BREYER | Management | For | For | |
| | M. MICHELE BURNS | Management | For | For | |
| | JAMES I. CASH, JR. | Management | Withheld | Against | |
| | DOUGLAS N. DAFT | Management | For | For | |
| | DAVID D. GLASS | Management | For | For | |
| | ROLAND A. HERNANDEZ | Management | Withheld | Against | |
| | H. LEE SCOTT, JR. | Management | For | For | |
| | JACK C. SHEWMAKER | Management | For | For | |
| | JIM C. WALTON | Management | For | For | |
| | S. ROBSON WALTON | Management | For | For | |
| | CHRISTOPHER J. WILLIAMS | Management | For | For | |
| | LINDA S. WOLF | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 08 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 9,300 | 9,300 | 0 | 05/30/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE TJX COMPANIES, INC. | | TJX | | | Annual Meeting Date: 06/06/2006 |
| Issuer: 872540109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DAVID A. BRANDON | Management | For | For | |
| | BERNARD CAMMARATA | Management | For | For | |
| | GARY L. CRITTENDEN | Management | For | For | |
| | GAIL DEEGAN | Management | For | For | |
| | DENNIS F. HIGHTOWER | Management | For | For | |
| | AMY B. LANE | Management | For | For | |
| | RICHARD G. LESSER | Management | For | For | |
| | JOHN F. O'BRIEN | Management | For | For | |
| | ROBERT F. SHAPIRO | Management | For | For | |
| | WILLOW B. SHIRE | Management | For | For | |
| | FLETCHER H. WILEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 4,000 | 4,000 | 0 | 06/02/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| INGERSOLL-RAND COMPANY LIMITED | | IR | | | Annual Meeting Date: 06/07/2006 |
| Issuer: G4776G101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | T.E. MARTIN | Management | Withheld | Against | |
| | P. NACHTIGAL | Management | For | For | |
| | R.J. SWIFT | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,900 | 1,900 | 0 | 06/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| AMERICAN POWER CONVERSION CORPORATIO | | APCC | | | Annual Meeting Date: 06/08/2006 |
| Issuer: 029066107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | FIX NUMBER OF DIRECTORS | | Management | For | For | |
| 02 | ELECTION OF DIRECTORS | | Management | For | | |
| | RODGER B. DOWDELL, JR. | Management | For | For | |
| | NEIL E. RASMUSSEN | Management | For | For | |
| | ERVIN F. LYON | Management | For | For | |
| | JAMES D. GERSON | Management | For | For | |
| | JOHN G. KASSAKIAN | Management | For | For | |
| | ELLEN B. RICHSTONE | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,900 | 3,900 | 0 | 06/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CATERPILLAR INC. | | CAT | | | Annual Meeting Date: 06/14/2006 |
| Issuer: 149123101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | DAVID R. GOODE | Management | For | For | |
| | JAMES W. OWENS | Management | For | For | |
| | CHARLES D. POWELL | Management | Withheld | Against | |
| | JOSHUA I. SMITH | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | Against | Against | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 06 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - SEPARATE CHAIRMAN/CEO | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,100 | 1,100 | 0 | 06/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BEST BUY CO., INC. | | BBY | | | Annual Meeting Date: 06/21/2006 |
| Issuer: 086516101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRADBURY H. ANDERSON | Management | For | For | |
| | KATHY J. HIGGINS VICTOR | Management | For | For | |
| | ALLEN U. LENZMEIER | Management | For | For | |
| | FRANK D. TRESTMAN | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,000 | 3,000 | 0 | 06/20/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EXELON CORPORATION | | EXC | | | Annual Meeting Date: 06/27/2006 |
| Issuer: 30161N101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M.W. D'ALESSIO | Management | For | For | |
| | R.B. GRECO | Management | For | For | |
| | J.M. PALMS | Management | For | For | |
| | J.W. ROGERS | Management | For | For | |
| | R.L. THOMAS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO | Shareholder | For | Against | |
| RATIFY POISON PILL | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 1,400 | 1,400 | 0 | 06/27/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SUPERVALU INC. | | SVU | | | Annual Meeting Date: 06/28/2006 |
| Issuer: 868536103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R BALANCED FUND INC | 1856061103 | 3,475 | 3,475 | 0 | 06/27/2006 |
| | | | | | |
| | | | | | |
| | | | | | | |
| | | | | | |
| SM&R EQUITY INCOME PORTFOLIO | | | | | |
| | | | | | |
| THE PROCTER & GAMBLE COMPANY | | PG | | | Special Meeting Date: 07/12/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 39,000 | 39,000 | 0 | 07/07/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| NEXTEL COMMUNICATIONS, INC. | | NXTL | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 65332V103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | TIMOTHY M. DONAHUE | Management | For | For | |
| | FRANK M DRENDEL | Management | For | For | |
| | WILLIAM E. KENNARD | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 19,500 | 19,500 | 0 | 07/08/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| SPRINT CORPORATION | | S | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 852061100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 02 | AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE ISSUANCE OF COMMON AND PREFERRED STOCK | Management | For | For | |
| 05 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 06 | ELECTION OF DIRECTORS | | Management | For | | |
| | GORDON M. BETHUNE | Management | For | For | |
| | DR. E. LINN DRAPER, JR. | Management | For | For | |
| | JAMES H. HANCE, JR. | Management | For | For | |
| | DEBORAH A. HENRETTA | Management | For | For | |
| | IRVINE O. HOCKADAY, JR. | Management | For | For | |
| | LINDA KOCH LORIMER | Management | For | For | |
| | GERALD L. STORCH | Management | For | For | |
| | WILLIAM H. SWANSON | Management | For | For | |
| 07 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 08 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 24,400 | 24,400 | 0 | 07/08/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| EXELON CORPORATION | | EXC | | | Annual Meeting Date: 07/22/2005 |
| Issuer: 30161N101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | STOCK ISSUANCE | | Management | For | For | |
| 02 | ELECTION OF DIRECTORS | | Management | For | | |
| | E.A. BRENNAN | Management | For | For | |
| | B. DEMARS | Management | For | For | |
| | N.A. DIAZ | Management | For | For | |
| | J.W. ROWE | Management | For | For | |
| | R. RUBIN | Management | For | For | |
| 03 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 06 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 07 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 9,400 | 9,400 | 0 | 07/19/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| ELECTRONIC ARTS INC. | | ERTS | | | Annual Meeting Date: 07/28/2005 |
| Issuer: 285512109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. RICHARD ASHER | Management | For | For | |
| | LEONARD S. COLEMAN | Management | For | For | |
| | GARY M. KUSIN | Management | For | For | |
| | GREGORY B. MAFFEI | Management | For | For | |
| | TIMOTHY MOTT | Management | For | For | |
| | VIVEK PAUL | Management | For | For | |
| | ROBERT W. PITTMAN | Management | For | For | |
| | LAWRENCE F. PROBST III | Management | For | For | |
| | LINDA J. SRERE | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 8,200 | 8,200 | 0 | 07/25/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| UNOCAL CORPORATION | | UCL | | | Special Meeting Date: 08/10/2005 |
| Issuer: 915289102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 9,400 | 9,400 | 0 | 08/03/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| AMERICAN INTERNATIONAL GROUP, INC. | | AIG | | | Annual Meeting Date: 08/11/2005 |
| Issuer: 026874107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. AIDINOFF | Management | For | For | |
| | P. CHIA | Management | For | For | |
| | M. COHEN | Management | For | For | |
| | W. COHEN | Management | For | For | |
| | M. FELDSTEIN | Management | For | For | |
| | E. FUTTER | Management | For | For | |
| | S. HAMMERMAN | Management | For | For | |
| | C. HILLS | Management | For | For | |
| | R. HOLBROOKE | Management | For | For | |
| | D. KANAK | Management | For | For | |
| | G. MILES, JR. | Management | For | For | |
| | M. OFFIT | Management | For | For | |
| | M. SULLIVAN | Management | For | For | |
| | E. TSE | Management | For | For | |
| | F. ZARB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 33,100 | 33,100 | 0 | 08/08/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| H.J. HEINZ COMPANY | | HNZ | | | Annual Meeting Date: 08/23/2005 |
| Issuer: 423074103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | W.R. JOHNSON | Management | For | For | |
| | C.E. BUNCH | Management | For | For | |
| | M.C. CHOKSI | Management | For | For | |
| | L.S. COLEMAN, JR. | Management | For | For | |
| | P.H. COORS | Management | For | For | |
| | E.E. HOLIDAY | Management | For | For | |
| | C. KENDLE | Management | For | For | |
| | D.R. O'HARE | Management | For | For | |
| | L.C. SWANN | Management | For | For | |
| | T.J. USHER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 19,000 | 19,000 | 0 | 08/17/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE PROCTER & GAMBLE COMPANY | | PG | | | Annual Meeting Date: 10/11/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRUCE L. BYRNES | Management | For | For | |
| | SCOTT D. COOK | Management | For | For | |
| | CHARLES R. LEE | Management | Withheld | Against | |
| | W. JAMES MCNERNEY, JR. | Management | For | For | |
| | ERNESTO ZEDILLO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 07 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 39,000 | 39,000 | 0 | 10/06/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| LINEAR TECHNOLOGY CORPORATION | | LLTC | | | Annual Meeting Date: 11/02/2005 |
| Issuer: 535678106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ROBERT H. SWANSON, JR. | Management | For | For | |
| | DAVID S. LEE | Management | Withheld | Against | |
| | LOTHAR MAIER | Management | For | For | |
| | LEO T. MCCARTHY | Management | For | For | |
| | RICHARD M. MOLEY | Management | Withheld | Against | |
| | THOMAS S. VOLPE | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 12,900 | 12,900 | 0 | 10/28/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| MICROSOFT CORPORATION | | MSFT | | | Annual Meeting Date: 11/09/2005 |
| Issuer: 594918104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM H. GATES III | Management | For | For | |
| | STEVEN A. BALLMER | Management | For | For | |
| | JAMES I. CASH JR. | Management | Withheld | Against | |
| | DINA DUBLON | Management | For | For | |
| | RAYMOND V. GILMARTIN | Management | For | For | |
| | A. MCLAUGHLIN KOROLOGOS | Management | Withheld | Against | |
| | DAVID F. MARQUARDT | Management | For | For | |
| | CHARLES H. NOSKI | Management | For | For | |
| | HELMUT PANKE | Management | For | For | |
| | JON A. SHIRLEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 110,500 | 110,500 | 0 | 11/04/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| CISCO SYSTEMS, INC. | | CSCO | | | Annual Meeting Date: 11/15/2005 |
| Issuer: 17275R102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CAROL A. BARTZ | Management | For | For | |
| | M. MICHELE BURNS | Management | For | For | |
| | LARRY R. CARTER | Management | For | For | |
| | JOHN T. CHAMBERS | Management | For | For | |
| | DR. JOHN L. HENNESSY | Management | For | For | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | RODERICK C. MCGEARY | Management | For | For | |
| | JAMES C. MORGAN | Management | For | For | |
| | JOHN P. MORGRIDGE | Management | For | For | |
| | STEVEN M. WEST | Management | For | For | |
| | JERRY YANG | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE | Shareholder | Against | For | |
| COMPENSATION | | | | | |
| 06 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 67,100 | 67,100 | 0 | 11/09/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE COCA-COLA COMPANY | | KO | | | Consent Meeting Date: 01/13/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Against | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 25,700 | 25,700 | 0 | 12/06/2005 |
| | | | | | |
| | | | | | |
| | | | | | |
| HEALTH MANAGEMENT ASSOCIATES, INC. | | HMA | | | Annual Meeting Date: 02/21/2006 |
| Issuer: 421933102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM J. SCHOEN | Management | For | For | |
| | JOSEPH V. VUMBACCO | Management | For | For | |
| | KENT P. DAUTEN | Management | For | For | |
| | DONALD E. KIERNAN | Management | Withheld | Against | |
| | ROBERT A. KNOX | Management | For | For | |
| | WILLIAM E. MAYBERRY, MD | Management | For | For | |
| | VICKI A. O'MEARA | Management | For | For | |
| | WILLIAM C. STEERE, JR. | Management | For | For | |
| | R.W. WESTERFIELD, PH.D. | Management | For | For | |
| 02 | ADOPT RESTRICTED STOCK AWARD PLAN | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 22,700 | 22,700 | 0 | 02/13/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TYCO INTERNATIONAL LTD. | | TYC | | | Annual Meeting Date: 03/09/2006 |
| Issuer: 902124106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | FIX NUMBER OF DIRECTORS | | Management | For | For | |
| 1B | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS C. BLAIR | Management | For | For | |
| | EDWARD D. BREEN | Management | For | For | |
| | BRIAN DUPERREAULT | Management | For | For | |
| | BRUCE S. GORDON | Management | For | For | |
| | RAJIV L. GUPTA | Management | For | For | |
| | JOHN A. KROL | Management | For | For | |
| | MACKEY J. MCDONALD | Management | For | For | |
| | H. CARL MCCALL | Management | For | For | |
| | BRENDAN R. O'NEILL | Management | For | For | |
| | SANDRA S. WIJNBERG | Management | For | For | |
| | JEROME B. YORK | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 18,300 | 18,300 | 0 | 03/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| DUKE ENERGY CORPORATION | | DUK | | | Special Meeting Date: 03/10/2006 |
| Issuer: 264399106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 38,600 | 38,600 | 0 | 03/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE WALT DISNEY COMPANY | | DIS | | | Annual Meeting Date: 03/10/2006 |
| Issuer: 254687106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JOHN E. BRYSON | Management | For | For | |
| | JOHN S. CHEN | Management | For | For | |
| | JUDITH L. ESTRIN | Management | For | For | |
| | ROBERT A. IGER | Management | For | For | |
| | FRED H. LANGHAMMER | Management | For | For | |
| | AYLWIN B. LEWIS | Management | For | For | |
| | MONICA C. LOZANO | Management | For | For | |
| | ROBERT W. MATSCHULLAT | Management | For | For | |
| | GEORGE J. MITCHELL | Management | For | For | |
| | LEO J. O'DONOVAN, S.J. | Management | For | For | |
| | JOHN E. PEPPER, JR. | Management | For | For | |
| | ORIN C. SMITH | Management | For | For | |
| | GARY L. WILSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - RESCIND ANTI-TAKEOVER PROVISIONS | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 66,900 | 66,900 | 0 | 03/06/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| NOKIA CORPORATION | | NOK | | | Annual Meeting Date: 03/13/2006 |
| Issuer: 654902204 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 04 | APPROVE DISCHARGE OF SUPERVISORY BOARD | Management | For | For | |
| 05 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 06 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 07 | ELECTION OF DIRECTORS | | Management | | | |
| | PAUL J. COLLINS | Management | For | For | |
| | GEORG EHRNROOTH | Management | For | For | |
| | DANIEL R. HESSE | Management | For | For | |
| | BENGT HOLMSTROM | Management | For | For | |
| | PER KARLSSON | Management | For | For | |
| | EDOUARD MICHELIN | Management | For | For | |
| | JORMA OLLILA | Management | Withheld | Against | |
| | MARJORIE SCARDINO | Management | For | For | |
| | KEIJO SUILA | Management | For | For | |
| | VESA VAINIO | Management | For | For | |
| 08 | PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION | Management | For | For | |
| 09 | APPOINT AUDITORS | | Management | For | For | |
| 10 | AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL | Management | For | For | |
| 11 | AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL | Management | For | For | |
| 12 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| 13 | APPROVE APPROPRIATION OF DISPOSABLE PROFIT | Management | For | For | |
| 14 | TRANSACT OTHER BUSINESS | | Management | For | *Management Position Unknown |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 35,000 | 35,000 | 0 | 03/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| HEWLETT-PACKARD COMPANY | | HPQ | | | Annual Meeting Date: 03/15/2006 |
| Issuer: 428236103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | P.C. DUNN | Management | For | For | |
| | L.T. BABBIO, JR. | Management | For | For | |
| | S.M. BALDAUF | Management | For | For | |
| | R.A. HACKBORN | Management | For | For | |
| | J.H. HAMMERGREN | Management | For | For | |
| | M.V. HURD | Management | For | For | |
| | G.A. KEYWORTH II | Management | For | For | |
| | T.J. PERKINS | Management | For | For | |
| | R.L. RYAN | Management | For | For | |
| | L.S. SALHANY | Management | For | For | |
| | R.P. WAYMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 29,400 | 29,400 | 0 | 03/13/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| FIFTH THIRD BANCORP | | FITB | | | Annual Meeting Date: 03/28/2006 |
| Issuer: 316773100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JOHN F. BARRETT | Management | For | For | |
| | GEORGE A. SCHAEFER, JR. | Management | For | For | |
| | JOHN J. SCHIFF, JR. | Management | For | For | |
| | DUDLEY S. TAFT | Management | For | For | |
| 02 | CLASSIFY BOARD | | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 27,700 | 27,700 | 0 | 03/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MORGAN STANLEY | | MS | | | Annual Meeting Date: 04/04/2006 |
| Issuer: 617446448 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROY J. BOSTOCK* | Management | For | For | |
| | ERSKINE B. BOWLES* | Management | For | For | |
| | C. ROBERT KIDDER* | Management | For | For | |
| | JOHN J. MACK* | Management | For | For | |
| | DONALD T. NICOLAISEN* | Management | For | For | |
| | HUTHAM S. OLAYAN* | Management | For | For | |
| | O. GRIFFITH SEXTON* | Management | For | For | |
| | HOWARD J. DAVIES** | Management | For | For | |
| | CHARLES H. NOSKI** | Management | For | For | |
| | LAURA D'ANDREA TYSON** | Management | For | For | |
| | KLAUS ZUMWINKEL** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | CLASSIFY BOARD | | Management | For | For | |
| 05 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 11,500 | 11,500 | 0 | 03/29/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BECKMAN COULTER, INC. | | BEC | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 075811109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER B. DERVAN, PH.D. | Management | For | For | |
| | SCOTT GARRETT | Management | For | For | |
| | R.J. LAVIZZO-MOUREY, MD | Management | For | For | |
| | GLENN S. SCHAFER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 11,400 | 11,400 | 0 | 04/07/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SCHLUMBERGER LIMITED (SCHLUMBERGER N | | SLB | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 806857108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J. DEUTCH | Management | Withheld | Against | |
| | J.S. GORELICK | Management | For | For | |
| | A. GOULD | Management | For | For | |
| | T. ISAAC | Management | For | For | |
| | A. LAJOUS | Management | For | For | |
| | A. LEVY-LANG | Management | Withheld | Against | |
| | M.E. MARKS | Management | Withheld | Against | |
| | D. PRIMAT | Management | For | For | |
| | T.I. SANDVOLD | Management | Withheld | Against | |
| | N. SEYDOUX | Management | For | For | |
| | L.G. STUNTZ | Management | For | For | |
| | R. TALWAR | Management | Withheld | Against | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | APPROVE ARTICLE AMENDMENTS | | Management | For | For | |
| 04 | AMEND STOCK OPTION PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 11,400 | 11,400 | 0 | 04/07/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| UNITED TECHNOLOGIES CORPORATION | | UTX | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 913017109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LOUIS R. CHENEVERT | Management | For | For | |
| | GEORGE DAVID | Management | For | For | |
| | JOHN V. FARACI | Management | For | For | |
| | JEAN-PIERRE GARNIER | Management | For | For | |
| | JAMIE S. GORELICK | Management | For | For | |
| | CHARLES R. LEE | Management | Withheld | Against | |
| | RICHARD D. MCCORMICK | Management | For | For | |
| | HAROLD MCGRAW III | Management | For | For | |
| | FRANK P. POPOFF | Management | Withheld | Against | |
| | H. PATRICK SWYGERT | Management | For | For | |
| | ANDRE VILLENEUVE | Management | For | For | |
| | H.A. WAGNER | Management | Withheld | Against | |
| | CHRISTINE TODD WHITMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | S/H PROPOSAL - BOARD OF DIRECTORS | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - MILITARY/WEAPONS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 28,800 | 28,800 | 0 | 04/07/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CITIGROUP INC. | | C | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 172967101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | C. MICHAEL ARMSTRONG | Management | For | For | |
| | ALAIN J.P. BELDA | Management | For | For | |
| | GEORGE DAVID | Management | For | For | |
| | KENNETH T. DERR | Management | Withheld | Against | |
| | JOHN M. DEUTCH | Management | Withheld | Against | |
| | R. HERNANDEZ RAMIREZ | Management | Withheld | Against | |
| | ANN DIBBLE JORDAN | Management | For | For | |
| | KLAUS KLEINFELD | Management | For | For | |
| | ANDREW N. LIVERIS | Management | For | For | |
| | DUDLEY C. MECUM | Management | For | For | |
| | ANNE MULCAHY | Management | For | For | |
| | RICHARD D. PARSONS | Management | Withheld | Against | |
| | CHARLES PRINCE | Management | For | For | |
| | JUDITH RODIN | Management | For | For | |
| | ROBERT E. RUBIN | Management | For | For | |
| | FRANKLIN A. THOMAS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 7 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 8 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 9 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 10 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 11 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 12 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 68,400 | 68,400 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| U.S. BANCORP | | USB | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 902973304 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER H. COORS | Management | For | For | |
| | JERRY A. GRUNDHOFER | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | Against | Against | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 33,700 | 33,700 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WASHINGTON MUTUAL, INC. | | WM | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 939322103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KERRY K. KILLINGER* | Management | For | For | |
| | THOMAS C. LEPPERT* | Management | Withheld | Against | |
| | CHARLES M. LILLIS* | Management | Withheld | Against | |
| | MICHAEL K. MURPHY* | Management | For | For | |
| | ORIN C. SMITH* | Management | For | For | |
| | REGINA MONTOYA** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | DECLASSIFY BOARD | | Management | For | For | |
| 06 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 13,700 | 13,700 | 0 | 04/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE COCA-COLA COMPANY | | KO | | | Annual Meeting Date: 04/19/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | HERBERT A. ALLEN | Management | For | For | |
| | RONALD W. ALLEN | Management | For | For | |
| | CATHLEEN P. BLACK | Management | For | For | |
| | BARRY DILLER | Management | For | For | |
| | E. NEVILLE ISDELL | Management | For | For | |
| | DONALD R. KEOUGH | Management | Withheld | Against | |
| | DONALD F. MCHENRY | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | JAMES D. ROBINSON III | Management | For | For | |
| | PETER V. UEBERROTH | Management | Withheld | Against | |
| | JAMES B. WILLIAMS | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND RESTRICTED STOCK AWARD PLAN | Management | Against | Against | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 25,700 | 25,700 | 0 | 04/12/2006 |
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| ALLTEL CORPORATION | | AT | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 020039103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLIAM H. CROWN | Management | For | For | |
| | JOE T. FORD | Management | For | For | |
| | JOHN P. MCCONNELL | Management | For | For | |
| | JOSIE C. NATORI | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 9,650 | 9,650 | 0 | 04/17/2006 |
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| AMSOUTH BANCORPORATION | | ASO | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 032165102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MARTHA R. INGRAM | Management | For | For | |
| | CHARLES D. MCCRARY | Management | Withheld | Against | |
| | C. DOWD RITTER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 05 | S/H - CREATE A NON-DISCRIMATORY SEXUAL ORIENTATION | Shareholder | Against | For | |
| POLICY | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 22,300 | 22,300 | 0 | 04/17/2006 |
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| BP P.L.C. | | BP | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 055622104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ADOPT ACCOUNTS FOR PAST YEAR | | Management | For | For | |
| 02 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | DR D C ALLEN | Management | For | For | |
| | LORD BROWNE | Management | For | For | |
| | MR J H BRYAN | Management | For | For | |
| | MR A BURGMANS | Management | For | For | |
| | MR I C CONN | Management | For | For | |
| | MR E B DAVIS, JR | Management | For | For | |
| | MR D J FLINT | Management | For | For | |
| | DR B E GROTE | Management | For | For | |
| | DR A B HAYWARD | Management | For | For | |
| | DR D S JULIUS | Management | For | For | |
| | SIR TOM MCKILLOP | Management | For | For | |
| | MR J A MANZONI | Management | For | For | |
| | DR W E MASSEY | Management | For | For | |
| | SIR IAN PROSSER | Management | For | For | |
| | MR M H WILSON | Management | For | For | |
| | MR P D SUTHERLAND | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 06 | ALLOT SECURITIES | | Management | For | For | |
| 07 | STOCK CONVERSION | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,510 | 17,510 | 0 | 04/11/2006 |
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| NICOR INC. | | GAS | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 654086107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | R.M. BEAVERS, JR. | Management | For | For | |
| | B.P. BICKNER | Management | For | For | |
| | J.H. BIRDSALL, III | Management | For | For | |
| | T.A. DONAHOE | Management | For | For | |
| | B.J. GAINES | Management | For | For | |
| | R.A. JEAN | Management | For | For | |
| | D.J. KELLER | Management | For | For | |
| | R.E. MARTIN | Management | For | For | |
| | G.R. NELSON | Management | For | For | |
| | J. RAU | Management | For | For | |
| | J.F. RIORDAN | Management | For | For | |
| | R.M. STROBEL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 26,100 | 26,100 | 0 | 04/17/2006 |
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| PPG INDUSTRIES, INC. | | PPG | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 693506107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CHARLES E. BUNCH | Management | For | For | |
| | ROBERT RIPP | Management | For | For | |
| | THOMAS J. USHER | Management | For | For | |
| | DAVID R. WHITWAM | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 7,200 | 7,200 | 0 | 04/17/2006 |
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| ALCOA INC. | | AA | | | Annual Meeting Date: 04/21/2006 |
| Issuer: 013817101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | KATHRYN S. FULLER | Management | For | For | |
| | JUDITH M. GUERON | Management | For | For | |
| | ERNESTO ZEDILLO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 18,400 | 18,400 | 0 | 04/19/2006 |
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| FAIRPOINT COMMUNICATIONS INC. | | FRP | | | Annual Meeting Date: 04/24/2006 |
| Issuer: 305560104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | EUGENE B. JOHNSON | Management | For | For | |
| | P GARRISON-CORBIN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 77,000 | 77,000 | 0 | 04/19/2006 |
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| MERCK & CO., INC. | | MRK | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 589331107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | RICHARD T. CLARK | Management | For | For | |
| | LAWRENCE A. BOSSIDY | Management | For | For | |
| | WILLIAM G. BOWEN | Management | For | For | |
| | JOHNNETTA B. COLE | Management | Withheld | Against | |
| | WILLIAM B. HARRISON, JR | Management | For | For | |
| | WILLIAM N. KELLEY | Management | Withheld | Against | |
| | ROCHELLE B. LAZARUS | Management | Withheld | Against | |
| | THOMAS E. SHENK | Management | For | For | |
| | ANNE M. TATLOCK | Management | For | For | |
| | SAMUEL O. THIER | Management | For | For | |
| | WENDELL P. WEEKS | Management | For | For | |
| | PETER C. WENDELL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT NON-EMPLOYEE DIRECTOR PLAN | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 25,300 | 25,300 | 0 | 04/21/2006 |
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| NATIONAL CITY CORPORATION | | NCC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 635405103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.E. BARFIELD | Management | Withheld | Against | |
| | J.S. BROADHURST | Management | For | For | |
| | C.M. CONNOR | Management | For | For | |
| | D.A. DABERKO | Management | For | For | |
| | B.P. HEALY | Management | For | For | |
| | S.C. LINDNER | Management | For | For | |
| | P.A. ORMOND | Management | For | For | |
| | G.L. SHAHEEN | Management | For | For | |
| | J.S. THORNTON | Management | For | For | |
| | M. WEISS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 31,100 | 31,100 | 0 | 04/21/2006 |
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| THE PNC FINANCIAL SERVICES GROUP, IN | | PNC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 693475105 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MR. CHELLGREN | Management | For | For | |
| | MR. CLAY | Management | For | For | |
| | MR. COOPER | Management | Withheld | Against | |
| | MR. DAVIDSON | Management | For | For | |
| | MS. JAMES | Management | For | For | |
| | MR. KELSON | Management | For | For | |
| | MR. LINDSAY | Management | For | For | |
| | MR. MASSARO | Management | For | For | |
| | MR. O'BRIEN | Management | For | For | |
| | MS. PEPPER | Management | For | For | |
| | MR. ROHR | Management | For | For | |
| | MS. STEFFES | Management | For | For | |
| | MR. STRIGL | Management | For | For | |
| | MR. THIEKE | Management | For | For | |
| | MR. USHER | Management | Withheld | Against | |
| | MR. WALLS | Management | For | For | |
| | MR. WEHMEIER | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 33,400 | 33,400 | 0 | 04/21/2006 |
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| WELLS FARGO & COMPANY | | WFC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 949746101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LLOYD H. DEAN | Management | For | For | |
| | SUSAN E. ENGEL | Management | For | For | |
| | ENRIQUE HERNANDEZ, JR. | Management | Withheld | Against | |
| | ROBERT L. JOSS | Management | For | For | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | RICHARD D. MCCORMICK | Management | For | For | |
| | CYNTHIA H. MILLIGAN | Management | Withheld | Against | |
| | NICHOLAS G. MOORE | Management | For | For | |
| | PHILIP J. QUIGLEY | Management | Withheld | Against | |
| | DONALD B. RICE | Management | Withheld | Against | |
| | JUDITH M. RUNSTAD | Management | For | For | |
| | STEPHEN W. SANGER | Management | For | For | |
| | SUSAN G. SWENSON | Management | For | For | |
| | MICHAEL W. WRIGHT | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 30,900 | 30,900 | 0 | 04/21/2006 |
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| BANK OF AMERICA CORPORATION | | BAC | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 060505104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM BARNET, III | Management | For | For | |
| | FRANK P. BRAMBLE, SR. | Management | For | For | |
| | JOHN T. COLLINS | Management | For | For | |
| | GARY L. COUNTRYMAN | Management | Withheld | Against | |
| | TOMMY R. FRANKS | Management | For | For | |
| | PAUL FULTON | Management | Withheld | Against | |
| | CHARLES K. GIFFORD | Management | For | For | |
| | W. STEVEN JONES | Management | For | For | |
| | KENNETH D. LEWIS | Management | For | For | |
| | MONICA C. LOZANO | Management | For | For | |
| | WALTER E. MASSEY | Management | For | For | |
| | THOMAS J. MAY | Management | For | For | |
| | PATRICIA E. MITCHELL | Management | For | For | |
| | THOMAS M. RYAN | Management | For | For | |
| | O. TEMPLE SLOAN, JR. | Management | For | For | |
| | MEREDITH R. SPANGLER | Management | For | For | |
| | ROBERT L. TILLMAN | Management | For | For | |
| | JACKIE M. WARD | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT STOCK OPTION PLAN | | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 48,700 | 48,700 | 0 | 04/21/2006 |
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| CHEVRON CORPORATION | | CVX | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 166764100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | S.H. ARMACOST | Management | Withheld | Against | |
| | L.F. DEILY | Management | For | For | |
| | R.E. DENHAM | Management | For | For | |
| | R.J. EATON | Management | For | For | |
| | S. GINN | Management | For | For | |
| | F.G. JENIFER | Management | For | For | |
| | S. NUNN | Management | For | For | |
| | D.J. O'REILLY | Management | For | For | |
| | D.B. RICE | Management | Withheld | Against | |
| | P.J. ROBERTSON | Management | For | For | |
| | C.R. SHOEMATE | Management | For | For | |
| | R.D. SUGAR | Management | For | For | |
| | C. WARE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 08 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 39,026 | 39,026 | 0 | 04/21/2006 |
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| COLONIAL PROPERTIES TRUST | | CLP | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 195872106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CARL F. BAILEY | Management | For | For | |
| | M. MILLER GORRIE | Management | For | For | |
| | WILLIAM M. JOHNSON | Management | For | For | |
| | GLADE M. KNIGHT | Management | For | For | |
| | JAMES K. LOWDER | Management | For | For | |
| | THOMAS H. LOWDER | Management | For | For | |
| | HERBERT A. MEISLER | Management | For | For | |
| | CLAUDE B. NIELSEN | Management | For | For | |
| | HAROLD W. RIPPS | Management | For | For | |
| | DONALD T. SENTERFITT | Management | For | For | |
| | JOHN W. SPIEGEL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 22,500 | 22,500 | 0 | 04/21/2006 |
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| DELUXE CORPORATION | | DLX | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 248019101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RONALD E. EILERS | Management | For | For | |
| | T. MICHAEL GLENN | Management | For | For | |
| | CHARLES A. HAGGERTY | Management | For | For | |
| | ISAIAH HARRIS, JR. | Management | For | For | |
| | WILLIAM A. HAWKINS, III | Management | For | For | |
| | C. MAYBERRY MCKISSACK | Management | For | For | |
| | STEPHEN P. NACHTSHEIM | Management | For | For | |
| | MARY ANN O'DWYER | Management | For | For | |
| | MARTYN R. REDGRAVE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 44,000 | 44,000 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| E. I. DU PONT DE NEMOURS AND COMPANY | | DD | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 263534109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ALAIN J.P. BELDA | Management | For | For | |
| | RICHARD H. BROWN | Management | For | For | |
| | CURTIS J. CRAWFORD | Management | For | For | |
| | JOHN T. DILLON | Management | For | For | |
| | ELEUTHERE I. DU PONT | Management | For | For | |
| | CHARLES O. HOLLIDAY, JR | Management | For | For | |
| | LOIS D. JULIBER | Management | For | For | |
| | MASAHISA NAITOH | Management | For | For | |
| | SEAN O'KEEFE | Management | For | For | |
| | WILLIAM K. REILLY | Management | For | For | |
| | CHARLES M. VEST | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 11,100 | 11,100 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GENERAL ELECTRIC COMPANY | | GE | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 369604103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| A | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES I. CASH, JR. | Management | For | For | |
| | SIR WILLIAM M. CASTELL | Management | For | For | |
| | ANN M. FUDGE | Management | For | For | |
| | CLAUDIO X. GONZALEZ | Management | Withheld | Against | |
| | JEFFREY R. IMMELT | Management | For | For | |
| | ANDREA JUNG | Management | For | For | |
| | ALAN G. LAFLEY | Management | For | For | |
| | ROBERT W. LANE | Management | For | For | |
| | RALPH S. LARSEN | Management | For | For | |
| | ROCHELLE B. LAZARUS | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | ROGER S. PENSKE | Management | For | For | |
| | ROBERT J. SWIERINGA | Management | For | For | |
| | DOUGLAS A. WARNER III | Management | For | For | |
| | ROBERT C. WRIGHT | Management | For | For | |
| B | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 01 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 02 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 116,250 | 116,250 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TEXTRON INC. | | TXT | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 883203101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | LEWIS B. CAMPBELL | Management | For | For | |
| | LAWRENCE K. FISH | Management | For | For | |
| | JOE T. FORD | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,600 | 17,600 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE STANLEY WORKS | | SWK | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 854616109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | EILEEN S. KRAUS | Management | For | For | |
| | LAWRENCE A. ZIMMERMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,900 | 17,900 | 0 | 04/21/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ALTRIA GROUP, INC. | | MO | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 02209S103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ELIZABETH E. BAILEY | Management | For | For | |
| | HAROLD BROWN | Management | For | For | |
| | MATHIS CABIALLAVETTA | Management | For | For | |
| | LOUIS C. CAMILLERI | Management | For | For | |
| | J. DUDLEY FISHBURN | Management | Withheld | Against | |
| | ROBERT E. R. HUNTLEY | Management | For | For | |
| | THOMAS W. JONES | Management | Withheld | Against | |
| | GEORGE MUNOZ | Management | For | For | |
| | LUCIO A. NOTO | Management | For | For | |
| | JOHN S. REED | Management | For | For | |
| | STEPHEN M. WOLF | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - TOBACCO | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - TOBACCO | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 14,700 | 14,700 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| DTE ENERGY COMPANY | | DTE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 233331107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ALFRED R. GLANCY III | Management | For | For | |
| | JOHN E. LOBBIA | Management | For | For | |
| | EUGENE A. MILLER | Management | For | For | |
| | CHARLES W. PRYOR, JR. | Management | For | For | |
| | JOE W. LAYMON | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 24,800 | 24,800 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| JOHNSON & JOHNSON | | JNJ | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 478160104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MARY S. COLEMAN | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | ROBERT J. DARRETTA | Management | For | For | |
| | MICHAEL M. E. JOHNS | Management | For | For | |
| | ANN D. JORDAN | Management | For | For | |
| | ARNOLD G. LANGBO | Management | For | For | |
| | SUSAN L. LINDQUIST | Management | For | For | |
| | LEO F. MULLIN | Management | For | For | |
| | CHRISTINE A. POON | Management | For | For | |
| | CHARLES PRINCE | Management | For | For | |
| | STEVEN S REINEMUND | Management | For | For | |
| | DAVID SATCHER | Management | For | For | |
| | WILLIAM C. WELDON | Management | For | For | |
| 02 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS | Shareholder | For | Against | |
| TO BE INDEPENDENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 39,200 | 39,200 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| KIMBERLY-CLARK CORPORATION | | KMB | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 494368103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS R. BERESFORD | Management | For | For | |
| | ABELARDO E. BRU | Management | For | For | |
| | THOMAS J. FALK | Management | For | For | |
| | MAE C. JEMISON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 13,600 | 13,600 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PFIZER INC. | | PFE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 717081103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MICHAEL S. BROWN | Management | For | For | |
| | M. ANTHONY BURNS | Management | For | For | |
| | ROBERT N. BURT | Management | For | For | |
| | W. DON CORNWELL | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | WILLIAM R. HOWELL | Management | Withheld | Against | |
| | STANLEY O. IKENBERRY | Management | For | For | |
| | GEORGE A. LORCH | Management | For | For | |
| | HENRY A. MCKINNELL | Management | For | For | |
| | DANA G. MEAD | Management | For | For | |
| | RUTH J. SIMMONS | Management | For | For | |
| | WILLIAM C. STEERE, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 08 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 10 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 85,580 | 85,580 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SENSIENT TECHNOLOGIES CORPORATION | | SXT | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 81725T100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | HANK BROWN | Management | For | For | |
| | FERGUS M. CLYDESDALE | Management | For | For | |
| | JAMES A.D. CROFT | Management | For | For | |
| | WILLIAM V. HICKEY | Management | For | For | |
| | KENNETH P. MANNING | Management | For | For | |
| | PETER M. SALMON | Management | For | For | |
| | ELAINE R. WEDRAL | Management | For | For | |
| | ESSIE WHITELAW | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 21,500 | 21,500 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WYETH | | | WYE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 983024100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | R. ESSNER | Management | For | For | |
| | J.D. FEERICK | Management | For | For | |
| | F.D. FERGUSSON | Management | For | For | |
| | V.F. GANZI | Management | For | For | |
| | R. LANGER | Management | For | For | |
| | J.P. MASCOTTE | Management | For | For | |
| | M.L. POLAN | Management | For | For | |
| | G.L. ROGERS | Management | For | For | |
| | I.G. SEIDENBERG | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.R. TORELL III | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 19,300 | 19,300 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| AT&T INC. | | T | | | Annual Meeting Date: 04/28/2006 |
| Issuer: 00206R102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM F. ALDINGER III | Management | Withheld | Against | |
| | GILBERT F. AMELIO | Management | For | For | |
| | AUGUST A. BUSCH III | Management | For | For | |
| | MARTIN K. EBY, JR. | Management | For | For | |
| | JAMES A. HENDERSON | Management | For | For | |
| | CHARLES F. KNIGHT | Management | For | For | |
| | JON C. MADONNA | Management | For | For | |
| | LYNN M. MARTIN | Management | For | For | |
| | JOHN B. MCCOY | Management | For | For | |
| | MARY S. METZ | Management | For | For | |
| | TONI REMBE | Management | For | For | |
| | S. DONLEY RITCHEY | Management | For | For | |
| | JOYCE M. ROCHE | Management | For | For | |
| | RANDALL L. STEPHENSON | Management | For | For | |
| | LAURA D'ANDREA TYSON | Management | For | For | |
| | PATRICIA P. UPTON | Management | For | For | |
| | EDWARD E. WHITACRE, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 07 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 08 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 09 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 10 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 23,500 | 23,500 | 0 | 04/24/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| WEINGARTEN REALTY INVESTORS | | WRI | | | Annual Meeting Date: 05/01/2006 |
| Issuer: 948741103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | STANFORD ALEXANDER | Management | For | For | |
| | ANDREW M. ALEXANDER | Management | For | For | |
| | J. MURRY BOWDEN | Management | For | For | |
| | JAMES W. CROWNOVER | Management | For | For | |
| | ROBERT J. CRUIKSHANK | Management | For | For | |
| | MELVIN A. DOW | Management | For | For | |
| | STEPHEN A. LASHER | Management | For | For | |
| | DOUGLAS W. SCHNITZER | Management | For | For | |
| | MARC J. SHAPIRO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 46,350 | 46,350 | 0 | 04/26/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| AMEREN CORPORATION | | AEE | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 023608102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | SUSAN S. ELLIOTT | Management | For | For | |
| | GAYLE P.W. JACKSON | Management | For | For | |
| | JAMES C. JOHNSON | Management | For | For | |
| | RICHARD A. LIDDY | Management | For | For | |
| | GORDON R. LOHMAN | Management | For | For | |
| | RICHARD A. LUMPKIN | Management | For | For | |
| | CHARLES W. MUELLER | Management | For | For | |
| | DOUGLAS R. OBERHELMAN | Management | Withheld | Against | |
| | GARY L. RAINWATER | Management | For | For | |
| | HARVEY SALIGMAN | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 15,200 | 15,200 | 0 | 04/26/2006 |
| | | | | | |
| | | | | | |
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| BRISTOL-MYERS SQUIBB COMPANY | | BMY | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 110122108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | R.E. ALLEN | Management | For | For | |
| | L.B. CAMPBELL | Management | For | For | |
| | V.D. COFFMAN | Management | For | For | |
| | J.M. CORNELIUS | Management | Withheld | Against | |
| | P.R. DOLAN | Management | For | For | |
| | L.J. FREEH | Management | For | For | |
| | L.H. GLIMCHER, M.D. | Management | For | For | |
| | L. JOHANSSON | Management | For | For | |
| | J.D. ROBINSON III | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 37,600 | 37,600 | 0 | 04/26/2006 |
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| UST INC. | | UST | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 902911106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | P. DIAZ DENNIS | Management | For | For | |
| | P.J. NEFF | Management | For | For | |
| | A.J. PARSONS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - TOBACCO | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 26,200 | 26,200 | 0 | 04/26/2006 |
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| PEPSICO, INC. | | PEP | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 713448108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.F. AKERS | Management | For | For | |
| | R.E. ALLEN | Management | For | For | |
| | D. DUBLON | Management | For | For | |
| | V.J. DZAU | Management | For | For | |
| | R.L. HUNT | Management | Withheld | Against | |
| | A. IBARGUEN | Management | For | For | |
| | A.C. MARTINEZ | Management | Withheld | Against | |
| | I.K. NOOYI | Management | For | For | |
| | S.S REINEMUND | Management | For | For | |
| | S.P. ROCKEFELLER | Management | For | For | |
| | J.J. SCHIRO | Management | For | For | |
| | F.A. THOMAS | Management | For | For | |
| | C.M. TRUDELL | Management | For | For | |
| | D. VASELLA | Management | For | For | |
| | M.D. WHITE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 27,200 | 27,200 | 0 | 05/01/2006 |
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| PLUM CREEK TIMBER COMPANY, INC. | | PCL | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 729251108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RICK R. HOLLEY | Management | For | For | |
| | IAN B. DAVIDSON | Management | For | For | |
| | ROBIN JOSEPHS | Management | For | For | |
| | JOHN G. MCDONALD | Management | For | For | |
| | ROBERT B. MCLEOD | Management | For | For | |
| | JOHN H. SCULLY | Management | For | For | |
| | STEPHEN C. TOBIAS | Management | For | For | |
| | CARL B. WEBB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 41,500 | 41,500 | 0 | 05/01/2006 |
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| REYNOLDS AMERICAN INC. | | RAI | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 761713106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | A. MONTEIRO DE CASTRO | Management | For | For | |
| | H.G.L. (HUGO) POWELL | Management | For | For | |
| | JOSEPH P. VIVIANO | Management | For | For | |
| | THOMAS C. WAJNERT | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - TOBACCO | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - TOBACCO | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 12,949 | 12,949 | 0 | 05/01/2006 |
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| THE ST. PAUL TRAVELERS COMPANIES, IN | | STA | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 792860108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN H. DASBURG | Management | For | For | |
| | LESLIE B. DISHAROON | Management | For | For | |
| | JANET M. DOLAN | Management | For | For | |
| | KENNETH M. DUBERSTEIN | Management | Withheld | Against | |
| | JAY S. FISHMAN | Management | For | For | |
| | LAWRENCE G. GRAEV | Management | For | For | |
| | THOMAS R. HODGSON | Management | For | For | |
| | ROBERT I. LIPP | Management | For | For | |
| | BLYTHE J. MCGARVIE | Management | For | For | |
| | GLEN D. NELSON, MD | Management | Withheld | Against | |
| | LAURIE J. THOMSEN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | | | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 21,956 | 21,956 | 0 | 05/01/2006 |
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| LTC PROPERTIES, INC. | | LTC | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 502175102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ANDRE C. DIMITRIADIS | Management | For | For | |
| | BOYD W. HENDRICKSON | Management | Withheld | Against | |
| | EDMUND C. KING | Management | For | For | |
| | WENDY L. SIMPSON | Management | For | For | |
| | TIMOTHY J. TRICHE, M.D. | Management | For | For | |
| | SAM YELLEN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 48,500 | 48,500 | 0 | 05/02/2006 |
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| VERIZON COMMUNICATIONS INC. | | VZ | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 92343V104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.R. BARKER | Management | Withheld | Against | |
| | R.L. CARRION | Management | Withheld | Against | |
| | R.W. LANE | Management | For | For | |
| | S.O. MOOSE | Management | For | For | |
| | J. NEUBAUER | Management | For | For | |
| | D.T. NICOLAISEN | Management | For | For | |
| | T.H. O'BRIEN | Management | For | For | |
| | C. OTIS, JR. | Management | For | For | |
| | H.B. PRICE | Management | For | For | |
| | I.G. SEIDENBERG | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.R. STAFFORD | Management | For | For | |
| | R.D. STOREY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 08 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 49,400 | 49,400 | 0 | 05/02/2006 |
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| THE SERVICEMASTER COMPANY | | SVM | | | Annual Meeting Date: 05/05/2006 |
| Issuer: 81760N109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | EILEEN A. KAMERICK | Management | For | For | |
| | J. PATRICK SPAINHOUR | Management | For | For | |
| | DAVID K. WESSNER | Management | For | For | |
| 02 | APPROVE CASH/STOCK BONUS PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | *Management Position Unknown |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 51,500 | 51,500 | 0 | 05/03/2006 |
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| POTLATCH CORPORATION | | PCH | | | Annual Meeting Date: 05/08/2006 |
| Issuer: 737630103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | BOH A. DICKEY | Management | For | For | |
| | WILLIAM L. DRISCOLL | Management | For | For | |
| | RUTH ANN M. GILLIS | Management | For | For | |
| | JUDITH M. RUNSTAD | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 29,500 | 29,500 | 0 | 05/03/2006 |
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| 3M COMPANY | | MMM | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 88579Y101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LINDA G. ALVARADO | Management | Withheld | Against | |
| | EDWARD M. LIDDY | Management | For | For | |
| | ROBERT S. MORRISON | Management | Withheld | Against | |
| | AULANA L. PETERS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 10,200 | 10,200 | 0 | 05/05/2006 |
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| NEWELL RUBBERMAID INC. | | NWL | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 651229106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | THOMAS E. CLARKE | Management | For | For | |
| | E. CUTHBERT MILLETT | Management | For | For | |
| | STEVEN J. STROBEL | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,800 | 17,800 | 0 | 05/05/2006 |
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| PRUDENTIAL FINANCIAL, INC. | | PRU | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 744320102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | FREDERIC K. BECKER | Management | For | For | |
| | GORDON M. BETHUNE | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | JON F. HANSON | Management | For | For | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | JAMES A. UNRUH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | For | Against | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 2,841 | 2,841 | 0 | 05/05/2006 |
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| WEATHERFORD INTERNATIONAL LTD. | | WFT | | | Annual Meeting Date: 05/09/2006 |
| Issuer: G95089101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | NICHOLAS F. BRADY | Management | Withheld | Against | |
| | WILLIAM E. MACAULAY | Management | Withheld | Against | |
| | DAVID J. BUTTERS | Management | Withheld | Against | |
| | ROBERT B. MILLARD | Management | Withheld | Against | |
| | BERNARD J. DUROC-DANNER | Management | Withheld | Against | |
| | ROBERT K. MOSES, JR. | Management | For | For | |
| | SHELDON B. LUBAR | Management | For | For | |
| | ROBERT A. RAYNE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 24,400 | 24,400 | 0 | 05/05/2006 |
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| NISOURCE INC. | | NI | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 65473P105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| I | ELECTION OF DIRECTORS | | Management | For | | |
| | GARY L. NEALE | Management | For | For | |
| | ROBERT J. WELSH | Management | For | For | |
| | ROGER A. YOUNG | Management | For | For | |
| II | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| III | DECLASSIFY BOARD | | Management | For | For | |
| IV | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 51,600 | 51,600 | 0 | 05/08/2006 |
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| PROGRESS ENERGY, INC. | | PGN | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 743263105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | W. FREDERICK* | Management | For | For | |
| | W. JONES* | Management | For | For | |
| | T. STONE* | Management | For | For | |
| | E. BORDEN** | Management | For | For | |
| | J. BOSTIC** | Management | For | For | |
| | D. BURNER** | Management | Withheld | Against | |
| | R. DAUGHERTY** | Management | For | For | |
| | H. DELOACH*** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | CLASSIFY BOARD | | Management | For | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 25,000 | 25,000 | 0 | 05/08/2006 |
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| ANADARKO PETROLEUM CORPORATION | | APC | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 032511107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROBERT J. ALLISON, JR. | Management | For | For | |
| | JOHN W. PODUSKA, SR. | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 13,600 | 13,600 | 0 | 05/09/2006 |
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| COMMERCIAL NET LEASE REALTY, INC. | | NNN | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 202218103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | G. N. BECKWITH III | Management | For | For | |
| | KEVIN B. HABICHT | Management | For | For | |
| | CLIFFORD R. HINKLE | Management | For | For | |
| | RICHARD B. JENNINGS | Management | For | For | |
| | TED B. LANIER | Management | For | For | |
| | ROBERT C. LEGLER | Management | For | For | |
| | CRAIG MACNAB | Management | For | For | |
| | ROBERT MARTINEZ | Management | For | For | |
| 02 | TRANSACT OTHER BUSINESS | | Management | Abstain | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 47,400 | 47,400 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| HEALTH CARE PROPERTY INVESTORS, INC. | | HCP | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 421915109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MARY A CIRILLO-GOLDBERG | Management | For | For | |
| | ROBERT R. FANNING, JR. | Management | For | For | |
| | JAMES F. FLAHERTY III | Management | For | For | |
| | DAVID B. HENRY | Management | For | For | |
| | MICHAEL D. MCKEE | Management | Withheld | Against | |
| | HAROLD M. MESSMER, JR. | Management | Withheld | Against | |
| | PETER L. RHEIN | Management | For | For | |
| | KENNETH B. ROATH | Management | For | For | |
| | RICHARD M. ROSENBERG | Management | For | For | |
| | JOSEPH P. SULLIVAN | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | TRANSACT OTHER BUSINESS | | Management | Abstain | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 45,200 | 45,200 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| KEYCORP | | KEY | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 493267108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RALPH ALVAREZ | Management | For | For | |
| | WILLIAM G. BARES | Management | For | For | |
| | DR. CAROL A. CARTWRIGHT | Management | For | For | |
| | THOMAS C. STEVENS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,100 | 17,100 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE DOW CHEMICAL COMPANY | | DOW | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 260543103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JACQUELINE K. BARTON | Management | For | For | |
| | JAMES A. BELL | Management | For | For | |
| | BARBARA H. FRANKLIN | Management | For | For | |
| | ANDREW N. LIVERIS | Management | For | For | |
| | GEOFFERY E. MERSZEI | Management | For | For | |
| | J. PEDRO REINHARD | Management | For | For | |
| | RUTH G. SHAW | Management | For | For | |
| | PAUL G. STERN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - REPORT ON GENE EGINEERED PRODUCTS | Shareholder | | | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 20,100 | 20,100 | 0 | 05/09/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ENTERGY CORPORATION | | ETR | | | Annual Meeting Date: 05/12/2006 |
| Issuer: 29364G103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | M.S. BATEMAN | Management | For | For | |
| | W.F. BLOUNT | Management | Withheld | Against | |
| | S.D. DEBREE | Management | For | For | |
| | G.W. EDWARDS | Management | For | For | |
| | A.M. HERMAN | Management | Withheld | Against | |
| | D.C. HINTZ | Management | For | For | |
| | J.W. LEONARD | Management | For | For | |
| | S.L. LEVENICK | Management | For | For | |
| | R. V.D. LUFT | Management | For | For | |
| | J.R. NICHOLS | Management | For | For | |
| | W.A. PERCY, II | Management | For | For | |
| | W.J. TAUZIN | Management | For | For | |
| | S.V. WILKINSON | Management | For | For | |
| 02 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 4,600 | 4,600 | 0 | 05/10/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CONSOLIDATED EDISON, INC. | | ED | | | Annual Meeting Date: 05/15/2006 |
| Issuer: 209115104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | K. BURKE | Management | For | For | |
| | V.A. CALARCO | Management | For | For | |
| | G. CAMPBELL, JR. | Management | For | For | |
| | G.J. DAVIS | Management | For | For | |
| | M.J. DEL GIUDICE | Management | For | For | |
| | E.V. FUTTER | Management | Withheld | Against | |
| | S. HERNANDEZ | Management | For | For | |
| | P.W. LIKINS | Management | For | For | |
| | E.R. MCGRATH | Management | For | For | |
| | F.V. SALERNO | Management | Withheld | Against | |
| | L.F. SUTHERLAND | Management | For | For | |
| | S.R. VOLK | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 23,100 | 23,100 | 0 | 05/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TRUSTCO BANK CORP NY | | TRST | | | Annual Meeting Date: 05/15/2006 |
| Issuer: 898349105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | THOMAS O. MAGGS | Management | For | For | |
| | ROBERT J. MCCORMICK | Management | Withheld | Against | |
| | WILLIAM J. PURDY | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 87,300 | 87,300 | 0 | 05/11/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ALLIED CAPITAL CORPORATION | | ALD | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 01903Q108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ANN TORRE BATES | Management | For | For | |
| | EDWIN L. HARPER | Management | For | For | |
| | JOHN I. LEAHY | Management | For | For | |
| | ALEX J. POLLOCK | Management | For | For | |
| | GUY T. STEUART II | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | STOCK ISSUANCE | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 20,500 | 20,500 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| COMERICA INCORPORATED | | CMA | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 200340107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | LILLIAN BAUDER | Management | For | For | |
| | ANTHONY F. EARLEY, JR. | Management | For | For | |
| | ROBERT S. TAUBMAN | Management | For | For | |
| | REGINALD M. TURNER, JR. | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 19,200 | 19,200 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PRINCIPAL FINANCIAL GROUP, INC. | | PFG | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 74251V102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | J. BARRY GRISWELL | Management | For | For | |
| | RICHARD L KEYSER | Management | For | For | |
| | ARJUN K. MATHRANI | Management | For | For | |
| | ELIZABETH E. TALLETT | Management | For | For | |
| | THERESE M. VAUGHAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 16,700 | 16,700 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| ROYAL DUTCH SHELL PLC | | RDSA | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 780259206 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 02 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | JORMA OLLILA# | Management | For | For | |
| | NICK LAND# | Management | For | For | |
| | LORD KERR# U + | Management | For | For | |
| | JEROEN VAN DER VEER | Management | For | For | |
| | ROB ROUTS | Management | For | For | |
| | WIM KOK# N | Management | For | For | |
| 09 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 10 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 11 | ALLOT SECURITIES | | Management | For | For | |
| 12 | AUTHORIZE CO TO CARRY OUT RIGHTS ISSUES/LTD ISSUANCES | Management | For | For | |
| W/O PREEMPTIVE RIGHTS | | | | | |
| 13 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| 14 | MISCELLANEOUS CORPORATE ACTIONS | | Management | For | For | |
| 15 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 17,300 | 17,300 | 0 | 05/05/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE ALLSTATE CORPORATION | | ALL | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 020002101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | F. DUANE ACKERMAN | Management | For | For | |
| | JAMES G. ANDRESS | Management | For | For | |
| | W. JAMES FARRELL | Management | Withheld | Against | |
| | JACK M. GREENBERG | Management | Withheld | Against | |
| | RONALD T. LEMAY | Management | For | For | |
| | EDWARD M. LIDDY | Management | For | For | |
| | J. CHRISTOPHER REYES | Management | Withheld | Against | |
| | H. JOHN RILEY, JR. | Management | For | For | |
| | JOSHUA I. SMITH | Management | For | For | |
| | JUDITH A. SPRIESER | Management | Withheld | Against | |
| | MARY ALICE TAYLOR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE STOCK COMPENSATION PLAN | | Management | | | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 12,600 | 12,600 | 0 | 05/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| PINNACLE WEST CAPITAL CORPORATION | | PNW | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 723484101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JACK E. DAVIS | Management | For | For | |
| | PAMELA GRANT | Management | For | For | |
| | MARTHA O. HESSE | Management | For | For | |
| | WILLIAM S. JAMIESON, JR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 25,500 | 25,500 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| TUPPERWARE BRANDS CORPORATION | | TUP | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 899896104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KRISS CLONINGER III | Management | For | For | |
| | JOE R. LEE | Management | For | For | |
| | BOB MARBUT | Management | Withheld | Against | |
| | DAVID R. PARKER | Management | For | For | |
| | J. PATRICK SPAINHOUR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND DIRECTOR STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 27,600 | 27,600 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| XCEL ENERGY INC. | | XEL | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 98389B100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | C. CONEY BURGESS | Management | For | For | |
| | FREDRIC W. CORRIGAN | Management | For | For | |
| | RICHARD K. DAVIS | Management | For | For | |
| | ROGER R. HEMMINGHAUS | Management | For | For | |
| | A. BARRY HIRSCHFELD | Management | For | For | |
| | RICHARD C. KELLY | Management | For | For | |
| | DOUGLAS W. LEATHERDALE | Management | For | For | |
| | ALBERT F. MORENO | Management | For | For | |
| | DR. MARGARET R. PRESKA | Management | For | For | |
| | A. PATRICIA SAMPSON | Management | For | For | |
| | RICHARD H. TRULY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - SEPARATE CHAIRMAN/CEO | Shareholder | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 20,000 | 20,000 | 0 | 05/15/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SOVRAN SELF STORAGE, INC. | | SSS | | | Annual Meeting Date: 05/18/2006 |
| Issuer: 84610H108 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROBERT J. ATTEA | Management | For | For | |
| | KENNETH F. MYSZKA | Management | For | For | |
| | JOHN E. BURNS | Management | For | For | |
| | MICHAEL A. ELIA | Management | For | For | |
| | ANTHONY P. GAMMIE | Management | For | For | |
| | CHARLES E. LANNON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 21,000 | 21,000 | 0 | 05/16/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| LIMITED BRANDS, INC. | | LTD | | | Annual Meeting Date: 05/22/2006 |
| Issuer: 532716107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | E. GORDON GEE | Management | Withheld | Against | |
| | JAMES L. HESKETT | Management | For | For | |
| | ALLAN R. TESSLER | Management | For | For | |
| | ABIGAIL S. WEXNER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 46,900 | 46,900 | 0 | 05/19/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| MACK-CALI REALTY CORPORATION | | CLI | | | Annual Meeting Date: 05/24/2006 |
| Issuer: 554489104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JOHN R. CALI | Management | For | For | |
| | MITCHELL E. HERSH | Management | For | For | |
| | IRVIN D. REID | Management | For | For | |
| | ROBERT F. WEINBERG | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 24,200 | 24,200 | 0 | 05/22/2006 |
| | | | | | |
| | | | | | |
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| THE SOUTHERN COMPANY | | SO | | | Annual Meeting Date: 05/24/2006 |
| Issuer: 842587107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.P. BARANCO | Management | For | For | |
| | D.J. BERN | Management | For | For | |
| | F.S. BLAKE | Management | Withheld | Against | |
| | T.F. CHAPMAN | Management | For | For | |
| | D.M. JAMES | Management | Withheld | Against | |
| | Z.T. PATE | Management | For | For | |
| | J.N. PURCELL | Management | For | For | |
| | D.M. RATCLIFFE | Management | For | For | |
| | W.G. SMITH, JR. | Management | For | For | |
| | G.J. ST. PE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | Against | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 10,000 | 10,000 | 0 | 05/22/2006 |
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| CITIZENS COMMUNICATIONS COMPANY | | CZN | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 17453B101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KATHLEEN Q. ABERNATHY | Management | For | For | |
| | LEROY T. BARNES, JR. | Management | For | For | |
| | JERI B. FINARD | Management | For | For | |
| | LAWTON WEHLE FITT | Management | For | For | |
| | STANLEY HARFENIST | Management | For | For | |
| | WILLIAM M. KRAUS | Management | For | For | |
| | HOWARD L. SCHROTT | Management | For | For | |
| | LARRAINE D. SEGIL | Management | For | For | |
| | BRADLEY E. SINGER | Management | For | For | |
| | EDWIN TORNBERG | Management | Withheld | Against | |
| | DAVID H. WARD | Management | For | For | |
| | MYRON A. WICK, III | Management | Withheld | Against | |
| | MARY AGNES WILDEROTTER | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | For | Against | |
| VOTE | | | | | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 168,500 | 168,500 | 0 | 05/23/2006 |
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| EXXON MOBIL CORPORATION | | XOM | | | Annual Meeting Date: 05/31/2006 |
| Issuer: 30231G102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | 0 | | Management | | | |
| | M.J. BOSKIN | Management | For | For | |
| | W.W. GEORGE | Management | For | For | |
| | J.R. HOUGHTON | Management | For | For | |
| | W.R. HOWELL | Management | Withheld | Against | |
| | R.C. KING | Management | For | For | |
| | P.E. LIPPINCOTT | Management | For | For | |
| | H.A. MCKINNELL, JR. | Management | For | For | |
| | M.C. NELSON | Management | For | For | |
| | S.J. PALMISANO | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.S. SIMON | Management | For | For | |
| | R.W. TILLERSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 09 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | For | Against | |
| 11 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 12 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 14 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 15 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 62,100 | 62,100 | 0 | 05/26/2006 |
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| STARTEK, INC. | | SRT | | | Annual Meeting Date: 05/31/2006 |
| Issuer: 85569C107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ED ZSCHAU | Management | For | For | |
| | KAY NORTON | Management | For | For | |
| | ALBERT C. YATES | Management | For | For | |
| | STEVEN D. BUTLER | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 55,600 | 55,600 | 0 | 05/26/2006 |
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| WAL-MART STORES, INC. | | WMT | | | Annual Meeting Date: 06/02/2006 |
| Issuer: 931142103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | AIDA M. ALVAREZ | Management | For | For | |
| | JAMES W. BREYER | Management | For | For | |
| | M. MICHELE BURNS | Management | For | For | |
| | JAMES I. CASH, JR. | Management | Withheld | Against | |
| | DOUGLAS N. DAFT | Management | For | For | |
| | DAVID D. GLASS | Management | For | For | |
| | ROLAND A. HERNANDEZ | Management | Withheld | Against | |
| | H. LEE SCOTT, JR. | Management | For | For | |
| | JACK C. SHEWMAKER | Management | For | For | |
| | JIM C. WALTON | Management | For | For | |
| | S. ROBSON WALTON | Management | For | For | |
| | CHRISTOPHER J. WILLIAMS | Management | For | For | |
| | LINDA S. WOLF | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 08 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 56,300 | 56,300 | 0 | 05/30/2006 |
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| NEW YORK COMMUNITY BANCORP, INC. | | NYB | | | Annual Meeting Date: 06/07/2006 |
| Issuer: 649445103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MAUREEN E. CLANCY | Management | For | For | |
| | ROBERT S. FARRELL | Management | For | For | |
| | JOSEPH R. FICALORA | Management | For | For | |
| | MICHAEL F. MANZULLI | Management | For | For | |
| | JAMES J. O'DONOVAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CASH/STOCK BONUS PLAN | | Management | For | For | |
| 04 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 64,000 | 64,000 | 0 | 06/05/2006 |
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| SUPERVALU INC. | | SVU | | | Annual Meeting Date: 06/28/2006 |
| Issuer: 868536103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R INCOME FUND INC | 1856061002 | 18,500 | 18,500 | 0 | 06/27/2006 |
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| SM&R GROWTH PORTFOLIO | | | | | |
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| THE PROCTER & GAMBLE COMPANY | | PG | | | Special Meeting Date: 07/12/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 40,000 | 40,000 | 0 | 07/07/2005 |
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| NEXTEL COMMUNICATIONS, INC. | | NXTL | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 65332V103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | TIMOTHY M. DONAHUE | Management | For | For | |
| | FRANK M DRENDEL | Management | For | For | |
| | WILLIAM E. KENNARD | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,000 | 9,000 | 0 | 07/08/2005 |
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| SPRINT CORPORATION | | S | | | Annual Meeting Date: 07/13/2005 |
| Issuer: 852061100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 02 | AMEND ARTICLES/BYLAW/CHARTER-ORGANIZATION RELATED | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE ISSUANCE OF COMMON AND PREFERRED STOCK | Management | For | For | |
| 05 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| 06 | ELECTION OF DIRECTORS | | Management | For | | |
| | GORDON M. BETHUNE | Management | For | For | |
| | DR. E. LINN DRAPER, JR. | Management | For | For | |
| | JAMES H. HANCE, JR. | Management | For | For | |
| | DEBORAH A. HENRETTA | Management | For | For | |
| | IRVINE O. HOCKADAY, JR. | Management | For | For | |
| | LINDA KOCH LORIMER | Management | For | For | |
| | GERALD L. STORCH | Management | For | For | |
| | WILLIAM H. SWANSON | Management | For | For | |
| 07 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 08 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 22,600 | 22,600 | 0 | 07/08/2005 |
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| DELL INC. | | DELL | | | Annual Meeting Date: 07/15/2005 |
| Issuer: 24702R101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DONALD J. CARTY | Management | For | For | |
| | MICHAEL S. DELL | Management | For | For | |
| | WILLIAM H. GRAY, III | Management | For | For | |
| | JUDY C. LEWENT | Management | For | For | |
| | THOMAS W. LUCE, III | Management | For | For | |
| | KLAUS S. LUFT | Management | For | For | |
| | ALEX J. MANDL | Management | For | For | |
| | MICHAEL A. MILES | Management | For | For | |
| | SAMUEL A. NUNN, JR. | Management | For | For | |
| | KEVIN B. ROLLINS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| SH1 | S/H PROPOSAL - BOARD OF DIRECTORS | | Shareholder | Against | For | |
| SH2 | S/H - EXPENSING OF STOCK OPTIONS | | Shareholder | Against | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 31,700 | 31,700 | 0 | 07/12/2005 |
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| EXELON CORPORATION | | EXC | | | Annual Meeting Date: 07/22/2005 |
| Issuer: 30161N101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | STOCK ISSUANCE | | Management | For | For | |
| 02 | ELECTION OF DIRECTORS | | Management | For | | |
| | E.A. BRENNAN | Management | For | For | |
| | B. DEMARS | Management | For | For | |
| | N.A. DIAZ | Management | For | For | |
| | J.W. ROWE | Management | For | For | |
| | R. RUBIN | Management | For | For | |
| 03 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 06 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 07 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,100 | 9,100 | 0 | 07/19/2005 |
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| MCKESSON CORPORATION | | MCK | | | Annual Meeting Date: 07/27/2005 |
| Issuer: 58155Q103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MARIE L. KNOWLES | Management | For | For | |
| | JANE E. SHAW | Management | For | For | |
| | RICHARD F. SYRON | Management | For | For | |
| 02 | ADOPT STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN | Management | | | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | S/H PROPOSAL - BOARD OF DIRECTORS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 25,300 | 25,300 | 0 | 07/20/2005 |
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| ELECTRONIC ARTS INC. | | ERTS | | | Annual Meeting Date: 07/28/2005 |
| Issuer: 285512109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. RICHARD ASHER | Management | For | For | |
| | LEONARD S. COLEMAN | Management | For | For | |
| | GARY M. KUSIN | Management | For | For | |
| | GREGORY B. MAFFEI | Management | For | For | |
| | TIMOTHY MOTT | Management | For | For | |
| | VIVEK PAUL | Management | For | For | |
| | ROBERT W. PITTMAN | Management | For | For | |
| | LAWRENCE F. PROBST III | Management | For | For | |
| | LINDA J. SRERE | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 8,800 | 8,800 | 0 | 07/25/2005 |
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| SUNGARD DATA SYSTEMS INC. | | SDS | | | Annual Meeting Date: 07/28/2005 |
| Issuer: 867363103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE ANNUAL MEETING DATE/TIME CHANGE | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | GREGORY S. BENTLEY | Management | For | For | |
| | MICHAEL C. BROOKS | Management | For | For | |
| | CRISTOBAL CONDE | Management | For | For | |
| | RAMON DE OLIVEIRA | Management | For | For | |
| | HENRY C. DUQUES | Management | For | For | |
| | ALBERT A. EISENSTAT | Management | For | For | |
| | BERNARD GOLDSTEIN | Management | For | For | |
| | JANET BRUTSCHEA HAUGEN | Management | For | For | |
| | ROBERT E. KING | Management | For | For | |
| | JAMES L. MANN | Management | For | For | |
| | MALCOLM I. RUDDOCK | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 7,100 | 7,100 | 0 | 07/25/2005 |
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| XILINX, INC. | | XLNX | | | Annual Meeting Date: 08/04/2005 |
| Issuer: 983919101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLEM P. ROELANDTS | Management | For | For | |
| | JOHN L. DOYLE | Management | For | For | |
| | JERALD G. FISHMAN | Management | For | For | |
| | PHILIP T. GIANOS | Management | For | For | |
| | WILLIAM G. HOWARD, JR. | Management | For | For | |
| | HAROLD E. HUGHES, JR. | Management | For | For | |
| | J. MICHAEL PATTERSON | Management | For | For | |
| | RICHARD W. SEVCIK | Management | For | For | |
| | ELIZABETH W VANDERSLICE | Management | For | For | |
| 02 | AMEND STOCK PURCHASE PLAN TO INCREASE SHARES | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | CHANGE STOCK EXCHANGE LISTING | | Management | For | *Management Position Unknown |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,100 | 3,100 | 0 | 08/01/2005 |
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| UNOCAL CORPORATION | | UCL | | | Special Meeting Date: 08/10/2005 |
| Issuer: 915289102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE MERGER AGREEMENT | | Management | For | For | |
| 02 | APPROVE MOTION TO ADJOURN MEETING | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 12,500 | 12,500 | 0 | 08/03/2005 |
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| AMERICAN INTERNATIONAL GROUP, INC. | | AIG | | | Annual Meeting Date: 08/11/2005 |
| Issuer: 026874107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M. AIDINOFF | Management | For | For | |
| | P. CHIA | Management | For | For | |
| | M. COHEN | Management | For | For | |
| | W. COHEN | Management | For | For | |
| | M. FELDSTEIN | Management | For | For | |
| | E. FUTTER | Management | For | For | |
| | S. HAMMERMAN | Management | For | For | |
| | C. HILLS | Management | For | For | |
| | R. HOLBROOKE | Management | For | For | |
| | D. KANAK | Management | For | For | |
| | G. MILES, JR. | Management | For | For | |
| | M. OFFIT | Management | For | For | |
| | M. SULLIVAN | Management | For | For | |
| | E. TSE | Management | For | For | |
| | F. ZARB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 29,260 | 29,260 | 0 | 08/08/2005 |
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| MEDTRONIC, INC. | | MDT | | | Annual Meeting Date: 08/25/2005 |
| Issuer: 585055106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | SHIRLEY A. JACKSON, PHD | Management | For | For | |
| | DENISE M. O'LEARY | Management | For | For | |
| | JEAN-PIERRE ROSSO | Management | For | For | |
| | JACK W. SCHULER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | ADOPT DIRECTOR STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 21,400 | 21,400 | 0 | 08/22/2005 |
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| ORACLE CORPORATION | | ORCL | | | Annual Meeting Date: 10/10/2005 |
| Issuer: 68389X105 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JEFFREY O. HENLEY | Management | For | For | |
| | LAWRENCE J. ELLISON | Management | For | For | |
| | DONALD L. LUCAS | Management | For | For | |
| | MICHAEL J. BOSKIN | Management | For | For | |
| | JACK F. KEMP | Management | Withheld | Against | |
| | JEFFREY S. BERG | Management | For | For | |
| | SAFRA A. CATZ | Management | For | For | |
| | HECTOR GARCIA-MOLINA | Management | For | For | |
| | JOSEPH A. GRUNDFEST | Management | For | For | |
| | H. RAYMOND BINGHAM | Management | For | For | |
| | CHARLES E. PHILLIPS, JR | Management | For | For | |
| 02 | APPROVE EXECUTIVE BONUS PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 65,700 | 65,700 | 0 | 09/20/2005 |
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| THE PROCTER & GAMBLE COMPANY | | PG | | | Annual Meeting Date: 10/11/2005 |
| Issuer: 742718109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRUCE L. BYRNES | Management | For | For | |
| | SCOTT D. COOK | Management | For | For | |
| | CHARLES R. LEE | Management | Withheld | Against | |
| | W. JAMES MCNERNEY, JR. | Management | For | For | |
| | ERNESTO ZEDILLO | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 07 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 40,000 | 40,000 | 0 | 10/06/2005 |
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| LINEAR TECHNOLOGY CORPORATION | | LLTC | | | Annual Meeting Date: 11/02/2005 |
| Issuer: 535678106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | ROBERT H. SWANSON, JR. | Management | For | For | |
| | DAVID S. LEE | Management | Withheld | Against | |
| | LOTHAR MAIER | Management | For | For | |
| | LEO T. MCCARTHY | Management | For | For | |
| | RICHARD M. MOLEY | Management | Withheld | Against | |
| | THOMAS S. VOLPE | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 15,200 | 15,200 | 0 | 10/28/2005 |
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| KLA-TENCOR CORPORATION | | KLAC | | | Annual Meeting Date: 11/04/2005 |
| Issuer: 482480100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | KENNETH LEVY | Management | For | For | |
| | JON D. TOMPKINS | Management | For | For | |
| | LIDA URBANEK | Management | For | For | |
| 02 | ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 2,900 | 2,900 | 0 | 10/31/2005 |
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| MICROSOFT CORPORATION | | MSFT | | | Annual Meeting Date: 11/09/2005 |
| Issuer: 594918104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM H. GATES III | Management | For | For | |
| | STEVEN A. BALLMER | Management | For | For | |
| | JAMES I. CASH JR. | Management | Withheld | Against | |
| | DINA DUBLON | Management | For | For | |
| | RAYMOND V. GILMARTIN | Management | For | For | |
| | A. MCLAUGHLIN KOROLOGOS | Management | Withheld | Against | |
| | DAVID F. MARQUARDT | Management | For | For | |
| | CHARLES H. NOSKI | Management | For | For | |
| | HELMUT PANKE | Management | For | For | |
| | JON A. SHIRLEY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 101,000 | 101,000 | 0 | 11/04/2005 |
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| MAXIM INTEGRATED PRODUCTS, INC. | | MXIM | | | Annual Meeting Date: 11/10/2005 |
| Issuer: 57772K101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES BERGMAN | Management | Withheld | Against | |
| | MICHAEL J. BYRD | Management | Withheld | Against | |
| | PETER DE ROETTH | Management | For | For | |
| | JOHN F. GIFFORD | Management | For | For | |
| | B. KIPLING HAGOPIAN | Management | For | For | |
| | A.R. FRANK WAZZAN | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND NON-EMPLOYEE DIRECTOR PLAN TO INCREASE SHARES | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,400 | 3,400 | 0 | 11/07/2005 |
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| CISCO SYSTEMS, INC. | | CSCO | | | Annual Meeting Date: 11/15/2005 |
| Issuer: 17275R102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CAROL A. BARTZ | Management | For | For | |
| | M. MICHELE BURNS | Management | For | For | |
| | LARRY R. CARTER | Management | For | For | |
| | JOHN T. CHAMBERS | Management | For | For | |
| | DR. JOHN L. HENNESSY | Management | For | For | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | RODERICK C. MCGEARY | Management | For | For | |
| | JAMES C. MORGAN | Management | For | For | |
| | JOHN P. MORGRIDGE | Management | For | For | |
| | STEVEN M. WEST | Management | For | For | |
| | JERRY YANG | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE | Shareholder | Against | For | |
| COMPENSATION | | | | | |
| 06 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 84,500 | 84,500 | 0 | 11/09/2005 |
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| INTUIT INC. | | INTU | | | Annual Meeting Date: 12/16/2005 |
| Issuer: 461202103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | STEPHEN M. BENNETT | Management | For | For | |
| | CHRISTOPHER W. BRODY | Management | For | For | |
| | WILLIAM V. CAMPBELL | Management | For | For | |
| | SCOTT D. COOK | Management | For | For | |
| | L. JOHN DOERR | Management | Withheld | Against | |
| | DONNA L. DUBINSKY | Management | For | For | |
| | MICHAEL R. HALLMAN | Management | For | For | |
| | DENNIS D. POWELL | Management | For | For | |
| | STRATTON D. SCLAVOS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,100 | 3,100 | 0 | 12/14/2005 |
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| THE COCA-COLA COMPANY | | KO | | | Consent Meeting Date: 01/13/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Against | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 34,300 | 34,300 | 0 | 12/06/2005 |
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| ROCKWELL COLLINS, INC. | | COL | | | Annual Meeting Date: 02/07/2006 |
| Issuer: 774341101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | A.J. CARBONE | Management | For | For | |
| | C.M. JONES | Management | For | For | |
| | C.L. SHAVERS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 16,100 | 16,100 | 0 | 02/01/2006 |
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| AGILENT TECHNOLOGIES, INC. | | A | | | Annual Meeting Date: 03/01/2006 |
| Issuer: 00846U101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM P. SULLIVAN | Management | For | For | |
| | ROBERT J. HERBOLD | Management | Withheld | Against | |
| | KOH BOON HWEE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | INCENTIVE STOCK OPTIONS | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 4,800 | 4,800 | 0 | 02/24/2006 |
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| TYCO INTERNATIONAL LTD. | | TYC | | | Annual Meeting Date: 03/09/2006 |
| Issuer: 902124106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | FIX NUMBER OF DIRECTORS | | Management | For | For | |
| 1B | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS C. BLAIR | Management | For | For | |
| | EDWARD D. BREEN | Management | For | For | |
| | BRIAN DUPERREAULT | Management | For | For | |
| | BRUCE S. GORDON | Management | For | For | |
| | RAJIV L. GUPTA | Management | For | For | |
| | JOHN A. KROL | Management | For | For | |
| | MACKEY J. MCDONALD | Management | For | For | |
| | H. CARL MCCALL | Management | For | For | |
| | BRENDAN R. O'NEILL | Management | For | For | |
| | SANDRA S. WIJNBERG | Management | For | For | |
| | JEROME B. YORK | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 17,100 | 17,100 | 0 | 03/06/2006 |
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| THE WALT DISNEY COMPANY | | DIS | | | Annual Meeting Date: 03/10/2006 |
| Issuer: 254687106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JOHN E. BRYSON | Management | For | For | |
| | JOHN S. CHEN | Management | For | For | |
| | JUDITH L. ESTRIN | Management | For | For | |
| | ROBERT A. IGER | Management | For | For | |
| | FRED H. LANGHAMMER | Management | For | For | |
| | AYLWIN B. LEWIS | Management | For | For | |
| | MONICA C. LOZANO | Management | For | For | |
| | ROBERT W. MATSCHULLAT | Management | For | For | |
| | GEORGE J. MITCHELL | Management | For | For | |
| | LEO J. O'DONOVAN, S.J. | Management | For | For | |
| | JOHN E. PEPPER, JR. | Management | For | For | |
| | ORIN C. SMITH | Management | For | For | |
| | GARY L. WILSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - RESCIND ANTI-TAKEOVER PROVISIONS | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 67,000 | 67,000 | 0 | 03/06/2006 |
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| | | | | | |
| NOKIA CORPORATION | | NOK | | | Annual Meeting Date: 03/13/2006 |
| Issuer: 654902204 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 04 | APPROVE DISCHARGE OF SUPERVISORY BOARD | Management | For | For | |
| 05 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 06 | MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL | Management | For | For | |
| 07 | ELECTION OF DIRECTORS | | Management | | | |
| | PAUL J. COLLINS | Management | For | For | |
| | GEORG EHRNROOTH | Management | For | For | |
| | DANIEL R. HESSE | Management | For | For | |
| | BENGT HOLMSTROM | Management | For | For | |
| | PER KARLSSON | Management | For | For | |
| | EDOUARD MICHELIN | Management | For | For | |
| | JORMA OLLILA | Management | Withheld | Against | |
| | MARJORIE SCARDINO | Management | For | For | |
| | KEIJO SUILA | Management | For | For | |
| | VESA VAINIO | Management | For | For | |
| 08 | PERMIT DIRECTORS TO FIX/APPROVE AUDITOR'S REMUNERATION | Management | For | For | |
| 09 | APPOINT AUDITORS | | Management | For | For | |
| 10 | AUTHORIZE DIRECTORS TO DECREASE SHARE CAPITAL | Management | For | For | |
| 11 | AUTHORIZE DIRECTORS TO INCREASE SHARE CAPITAL | Management | For | For | |
| 12 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| 13 | APPROVE APPROPRIATION OF DISPOSABLE PROFIT | Management | For | For | |
| 14 | TRANSACT OTHER BUSINESS | | Management | For | *Management Position Unknown |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 34,100 | 34,100 | 0 | 03/09/2006 |
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| ANALOG DEVICES, INC. | | ADI | | | Annual Meeting Date: 03/14/2006 |
| Issuer: 032654105 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES A. CHAMPY | Management | Withheld | Against | |
| | KENTON J. SICCHITANO | Management | For | For | |
| | LESTER C. THUROW | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,900 | 3,900 | 0 | 03/13/2006 |
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| HEWLETT-PACKARD COMPANY | | HPQ | | | Annual Meeting Date: 03/15/2006 |
| Issuer: 428236103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | P.C. DUNN | Management | For | For | |
| | L.T. BABBIO, JR. | Management | For | For | |
| | S.M. BALDAUF | Management | For | For | |
| | R.A. HACKBORN | Management | For | For | |
| | J.H. HAMMERGREN | Management | For | For | |
| | M.V. HURD | Management | For | For | |
| | G.A. KEYWORTH II | Management | For | For | |
| | T.J. PERKINS | Management | For | For | |
| | R.L. RYAN | Management | For | For | |
| | L.S. SALHANY | Management | For | For | |
| | R.P. WAYMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 37,000 | 37,000 | 0 | 03/13/2006 |
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| THE GOLDMAN SACHS GROUP, INC. | | GS | | | Annual Meeting Date: 03/31/2006 |
| Issuer: 38141G104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LLOYD C. BLANKFEIN | Management | For | For | |
| | LORD BROWNE OFMADINGLEY | Management | For | For | |
| | JOHN H. BRYAN | Management | For | For | |
| | CLAES DAHLBACK | Management | Withheld | Against | |
| | STEPHEN FRIEDMAN | Management | Withheld | Against | |
| | WILLIAM W. GEORGE | Management | For | For | |
| | JAMES A. JOHNSON | Management | Withheld | Against | |
| | LOIS D. JULIBER | Management | For | For | |
| | EDWARD M. LIDDY | Management | For | For | |
| | HENRY M. PAULSON, JR. | Management | For | For | |
| | RUTH J. SIMMONS | Management | For | For | |
| 02 | DEFERRED COMPENSATION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 5,000 | 5,000 | 0 | 03/28/2006 |
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| MORGAN STANLEY | | MS | | | Annual Meeting Date: 04/04/2006 |
| Issuer: 617446448 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROY J. BOSTOCK* | Management | For | For | |
| | ERSKINE B. BOWLES* | Management | For | For | |
| | C. ROBERT KIDDER* | Management | For | For | |
| | JOHN J. MACK* | Management | For | For | |
| | DONALD T. NICOLAISEN* | Management | For | For | |
| | HUTHAM S. OLAYAN* | Management | For | For | |
| | O. GRIFFITH SEXTON* | Management | For | For | |
| | HOWARD J. DAVIES** | Management | For | For | |
| | CHARLES H. NOSKI** | Management | For | For | |
| | LAURA D'ANDREA TYSON** | Management | For | For | |
| | KLAUS ZUMWINKEL** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | CLASSIFY BOARD | | Management | For | For | |
| 05 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 19,700 | 19,700 | 0 | 03/29/2006 |
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| SCHLUMBERGER LIMITED (SCHLUMBERGER N | | SLB | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 806857108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J. DEUTCH | Management | Withheld | Against | |
| | J.S. GORELICK | Management | For | For | |
| | A. GOULD | Management | For | For | |
| | T. ISAAC | Management | For | For | |
| | A. LAJOUS | Management | For | For | |
| | A. LEVY-LANG | Management | Withheld | Against | |
| | M.E. MARKS | Management | Withheld | Against | |
| | D. PRIMAT | Management | For | For | |
| | T.I. SANDVOLD | Management | Withheld | Against | |
| | N. SEYDOUX | Management | For | For | |
| | L.G. STUNTZ | Management | For | For | |
| | R. TALWAR | Management | Withheld | Against | |
| 02 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 03 | APPROVE ARTICLE AMENDMENTS | | Management | For | For | |
| 04 | AMEND STOCK OPTION PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 6,600 | 6,600 | 0 | 04/07/2006 |
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| UNITED TECHNOLOGIES CORPORATION | | UTX | | | Annual Meeting Date: 04/12/2006 |
| Issuer: 913017109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | LOUIS R. CHENEVERT | Management | For | For | |
| | GEORGE DAVID | Management | For | For | |
| | JOHN V. FARACI | Management | For | For | |
| | JEAN-PIERRE GARNIER | Management | For | For | |
| | JAMIE S. GORELICK | Management | For | For | |
| | CHARLES R. LEE | Management | Withheld | Against | |
| | RICHARD D. MCCORMICK | Management | For | For | |
| | HAROLD MCGRAW III | Management | For | For | |
| | FRANK P. POPOFF | Management | Withheld | Against | |
| | H. PATRICK SWYGERT | Management | For | For | |
| | ANDRE VILLENEUVE | Management | For | For | |
| | H.A. WAGNER | Management | Withheld | Against | |
| | CHRISTINE TODD WHITMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | S/H PROPOSAL - BOARD OF DIRECTORS | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - MILITARY/WEAPONS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 11,300 | 11,300 | 0 | 04/07/2006 |
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| CITIGROUP INC. | | C | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 172967101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | C. MICHAEL ARMSTRONG | Management | For | For | |
| | ALAIN J.P. BELDA | Management | For | For | |
| | GEORGE DAVID | Management | For | For | |
| | KENNETH T. DERR | Management | Withheld | Against | |
| | JOHN M. DEUTCH | Management | Withheld | Against | |
| | R. HERNANDEZ RAMIREZ | Management | Withheld | Against | |
| | ANN DIBBLE JORDAN | Management | For | For | |
| | KLAUS KLEINFELD | Management | For | For | |
| | ANDREW N. LIVERIS | Management | For | For | |
| | DUDLEY C. MECUM | Management | For | For | |
| | ANNE MULCAHY | Management | For | For | |
| | RICHARD D. PARSONS | Management | Withheld | Against | |
| | CHARLES PRINCE | Management | For | For | |
| | JUDITH RODIN | Management | For | For | |
| | ROBERT E. RUBIN | Management | For | For | |
| | FRANKLIN A. THOMAS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 05 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 7 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 8 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 9 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 10 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 11 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 12 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 74,100 | 74,100 | 0 | 04/11/2006 |
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| SPRINT NEXTEL CORPORATION | | S | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 852061100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KEITH J. BANE | Management | For | For | |
| | GORDON M. BETHUNE | Management | For | For | |
| | TIMOTHY M. DONAHUE | Management | For | For | |
| | FRANK M. DRENDEL | Management | For | For | |
| | GARY D. FORSEE | Management | For | For | |
| | JAMES H. HANCE, JR. | Management | Withheld | Against | |
| | V. JANET HILL | Management | For | For | |
| | IRVINE O. HOCKADAY, JR. | Management | Withheld | Against | |
| | WILLIAM E. KENNARD | Management | For | For | |
| | LINDA KOCH LORIMER | Management | For | For | |
| | STEPHANIE M. SHERN | Management | For | For | |
| | WILLIAM H. SWANSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 34,007 | 34,007 | 0 | 04/11/2006 |
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| U.S. BANCORP | | USB | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 902973304 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PETER H. COORS | Management | For | For | |
| | JERRY A. GRUNDHOFER | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | Against | Against | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 54,085 | 54,085 | 0 | 04/11/2006 |
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| WACHOVIA CORPORATION | | WB | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 929903102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | WILLIAM H. GOODWIN, JR* | Management | Withheld | Against | |
| | ROBERT A. INGRAM* | Management | Withheld | Against | |
| | MACKEY J. MCDONALD* | Management | Withheld | Against | |
| | LANTY L. SMITH* | Management | Withheld | Against | |
| | RUTH G. SHAW* | Management | For | For | |
| | ERNEST S. RADY** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 21,300 | 21,300 | 0 | 04/11/2006 |
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| WASHINGTON MUTUAL, INC. | | WM | | | Annual Meeting Date: 04/18/2006 |
| Issuer: 939322103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | KERRY K. KILLINGER* | Management | For | For | |
| | THOMAS C. LEPPERT* | Management | Withheld | Against | |
| | CHARLES M. LILLIS* | Management | Withheld | Against | |
| | MICHAEL K. MURPHY* | Management | For | For | |
| | ORIN C. SMITH* | Management | For | For | |
| | REGINA MONTOYA** | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | DECLASSIFY BOARD | | Management | For | For | |
| 06 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,400 | 13,400 | 0 | 04/11/2006 |
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| THE COCA-COLA COMPANY | | KO | | | Annual Meeting Date: 04/19/2006 |
| Issuer: 191216100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | HERBERT A. ALLEN | Management | For | For | |
| | RONALD W. ALLEN | Management | For | For | |
| | CATHLEEN P. BLACK | Management | For | For | |
| | BARRY DILLER | Management | For | For | |
| | E. NEVILLE ISDELL | Management | For | For | |
| | DONALD R. KEOUGH | Management | Withheld | Against | |
| | DONALD F. MCHENRY | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | JAMES D. ROBINSON III | Management | For | For | |
| | PETER V. UEBERROTH | Management | Withheld | Against | |
| | JAMES B. WILLIAMS | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | AMEND RESTRICTED STOCK AWARD PLAN | Management | Against | Against | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 34,300 | 34,300 | 0 | 04/12/2006 |
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| ALLTEL CORPORATION | | AT | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 020039103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLIAM H. CROWN | Management | For | For | |
| | JOE T. FORD | Management | For | For | |
| | JOHN P. MCCONNELL | Management | For | For | |
| | JOSIE C. NATORI | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 14,400 | 14,400 | 0 | 04/17/2006 |
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| BP P.L.C. | | BP | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 055622104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ADOPT ACCOUNTS FOR PAST YEAR | | Management | For | For | |
| 02 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | DR D C ALLEN | Management | For | For | |
| | LORD BROWNE | Management | For | For | |
| | MR J H BRYAN | Management | For | For | |
| | MR A BURGMANS | Management | For | For | |
| | MR I C CONN | Management | For | For | |
| | MR E B DAVIS, JR | Management | For | For | |
| | MR D J FLINT | Management | For | For | |
| | DR B E GROTE | Management | For | For | |
| | DR A B HAYWARD | Management | For | For | |
| | DR D S JULIUS | Management | For | For | |
| | SIR TOM MCKILLOP | Management | For | For | |
| | MR J A MANZONI | Management | For | For | |
| | DR W E MASSEY | Management | For | For | |
| | SIR IAN PROSSER | Management | For | For | |
| | MR M H WILSON | Management | For | For | |
| | MR P D SUTHERLAND | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 06 | ALLOT SECURITIES | | Management | For | For | |
| 07 | STOCK CONVERSION | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,800 | 3,800 | 0 | 04/11/2006 |
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| PPG INDUSTRIES, INC. | | PPG | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 693506107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | CHARLES E. BUNCH | Management | For | For | |
| | ROBERT RIPP | Management | For | For | |
| | THOMAS J. USHER | Management | For | For | |
| | DAVID R. WHITWAM | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 6,000 | 6,000 | 0 | 04/17/2006 |
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| TEXAS INSTRUMENTS INCORPORATED | | TXN | | | Annual Meeting Date: 04/20/2006 |
| Issuer: 882508104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.R. ADAMS | Management | For | For | |
| | D.L. BOREN | Management | For | For | |
| | D.A. CARP | Management | For | For | |
| | C.S. COX | Management | For | For | |
| | T.J. ENGIBOUS | Management | For | For | |
| | G.W. FRONTERHOUSE | Management | For | For | |
| | D.R. GOODE | Management | Withheld | Against | |
| | P.H. PATSLEY | Management | For | For | |
| | W.R. SANDERS | Management | For | For | |
| | R.J. SIMMONS | Management | For | For | |
| | R.K. TEMPLETON | Management | For | For | |
| | C.T. WHITMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 15,600 | 15,600 | 0 | 04/17/2006 |
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| ELI LILLY AND COMPANY | | LLY | | | Annual Meeting Date: 04/24/2006 |
| Issuer: 532457108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M.S. FELDSTEIN | Management | For | For | |
| | J.E. FYRWALD | Management | For | For | |
| | E.R. MARRAM | Management | For | For | |
| | S. TAUREL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 10,300 | 10,300 | 0 | 04/19/2006 |
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| HONEYWELL INTERNATIONAL INC. | | HON | | | Annual Meeting Date: 04/24/2006 |
| Issuer: 438516106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | GORDON M. BETHUNE | Management | For | For | |
| | JAIME CHICO PARDO | Management | For | For | |
| | DAVID M. COTE | Management | For | For | |
| | D. SCOTT DAVIS | Management | For | For | |
| | LINNET F. DEILY | Management | For | For | |
| | CLIVE R. HOLLICK | Management | For | For | |
| | JAMES J. HOWARD | Management | For | For | |
| | BRUCE KARATZ | Management | For | For | |
| | RUSSELL E. PALMER | Management | For | For | |
| | IVAN G. SEIDENBERG | Management | For | For | |
| | BRADLEY T. SHEARES | Management | For | For | |
| | ERIC K. SHINSEKI | Management | For | For | |
| | JOHN R. STAFFORD | Management | For | For | |
| | MICHAEL W. WRIGHT | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT NON-EMPLOYEE DIRECTOR PLAN | | Management | For | For | |
| 06 | S/H PROPOSAL - ADHERE TO MACBRIDE PRINCIPLES | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - ADHERE TO MACBRIDE PRINCIPLES | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | Against | For | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 14,500 | 14,500 | 0 | 04/19/2006 |
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| GOODRICH CORPORATION | | GR | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 382388106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | DIANE C. CREEL | Management | For | For | |
| | GEORGE A. DAVIDSON, JR. | Management | For | For | |
| | HARRIS E. DELOACH, JR. | Management | For | For | |
| | JAMES W. GRIFFITH | Management | For | For | |
| | WILLIAM R. HOLLAND | Management | Withheld | Against | |
| | JOHN P. JUMPER | Management | For | For | |
| | MARSHALL O. LARSEN | Management | For | For | |
| | DOUGLAS E. OLESEN | Management | For | For | |
| | ALFRED M. RANKIN, JR. | Management | For | For | |
| | JAMES R. WILSON | Management | For | For | |
| | A. THOMAS YOUNG | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 34,300 | 34,300 | 0 | 04/21/2006 |
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| MERCK & CO., INC. | | MRK | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 589331107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | RICHARD T. CLARK | Management | For | For | |
| | LAWRENCE A. BOSSIDY | Management | For | For | |
| | WILLIAM G. BOWEN | Management | For | For | |
| | JOHNNETTA B. COLE | Management | Withheld | Against | |
| | WILLIAM B. HARRISON, JR | Management | For | For | |
| | WILLIAM N. KELLEY | Management | Withheld | Against | |
| | ROCHELLE B. LAZARUS | Management | Withheld | Against | |
| | THOMAS E. SHENK | Management | For | For | |
| | ANNE M. TATLOCK | Management | For | For | |
| | SAMUEL O. THIER | Management | For | For | |
| | WENDELL P. WEEKS | Management | For | For | |
| | PETER C. WENDELL | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ADOPT NON-EMPLOYEE DIRECTOR PLAN | | Management | For | For | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 19,000 | 19,000 | 0 | 04/21/2006 |
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| THE PNC FINANCIAL SERVICES GROUP, IN | | PNC | | | Annual Meeting Date: 04/25/2006 |
| Issuer: 693475105 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MR. CHELLGREN | Management | For | For | |
| | MR. CLAY | Management | For | For | |
| | MR. COOPER | Management | Withheld | Against | |
| | MR. DAVIDSON | Management | For | For | |
| | MS. JAMES | Management | For | For | |
| | MR. KELSON | Management | For | For | |
| | MR. LINDSAY | Management | For | For | |
| | MR. MASSARO | Management | For | For | |
| | MR. O'BRIEN | Management | For | For | |
| | MS. PEPPER | Management | For | For | |
| | MR. ROHR | Management | For | For | |
| | MS. STEFFES | Management | For | For | |
| | MR. STRIGL | Management | For | For | |
| | MR. THIEKE | Management | For | For | |
| | MR. USHER | Management | Withheld | Against | |
| | MR. WALLS | Management | For | For | |
| | MR. WEHMEIER | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 30,000 | 30,000 | 0 | 04/21/2006 |
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| CHEVRON CORPORATION | | CVX | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 166764100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | S.H. ARMACOST | Management | Withheld | Against | |
| | L.F. DEILY | Management | For | For | |
| | R.E. DENHAM | Management | For | For | |
| | R.J. EATON | Management | For | For | |
| | S. GINN | Management | For | For | |
| | F.G. JENIFER | Management | For | For | |
| | S. NUNN | Management | For | For | |
| | D.J. O'REILLY | Management | For | For | |
| | D.B. RICE | Management | Withheld | Against | |
| | P.J. ROBERTSON | Management | For | For | |
| | C.R. SHOEMATE | Management | For | For | |
| | R.D. SUGAR | Management | For | For | |
| | C. WARE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 08 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 35,922 | 35,922 | 0 | 04/21/2006 |
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| GENERAL ELECTRIC COMPANY | | GE | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 369604103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| A | ELECTION OF DIRECTORS | | Management | | | |
| | JAMES I. CASH, JR. | Management | For | For | |
| | SIR WILLIAM M. CASTELL | Management | For | For | |
| | ANN M. FUDGE | Management | For | For | |
| | CLAUDIO X. GONZALEZ | Management | Withheld | Against | |
| | JEFFREY R. IMMELT | Management | For | For | |
| | ANDREA JUNG | Management | For | For | |
| | ALAN G. LAFLEY | Management | For | For | |
| | ROBERT W. LANE | Management | For | For | |
| | RALPH S. LARSEN | Management | For | For | |
| | ROCHELLE B. LAZARUS | Management | For | For | |
| | SAM NUNN | Management | Withheld | Against | |
| | ROGER S. PENSKE | Management | For | For | |
| | ROBERT J. SWIERINGA | Management | For | For | |
| | DOUGLAS A. WARNER III | Management | For | For | |
| | ROBERT C. WRIGHT | Management | For | For | |
| B | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 01 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 02 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 110,200 | 110,200 | 0 | 04/21/2006 |
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| KOHL'S CORPORATION | | KSS | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 500255104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JAY H. BAKER | Management | Withheld | Against | |
| | STEVEN A. BURD | Management | Withheld | Against | |
| | KEVIN MANSELL | Management | For | For | |
| | PETER M. SOMMERHAUSER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 5,200 | 5,200 | 0 | 04/21/2006 |
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| THE STANLEY WORKS | | SWK | | | Annual Meeting Date: 04/26/2006 |
| Issuer: 854616109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | EILEEN S. KRAUS | Management | For | For | |
| | LAWRENCE A. ZIMMERMAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 19,600 | 19,600 | 0 | 04/21/2006 |
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| CEMEX, S.A. DE C.V. | | CX | | | Special Meeting Date: 04/27/2006 |
| Issuer: 151290889 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| E1 | APPROVE STOCK SPLIT | | Management | Against | Against | |
| E2 | APPROVE CHARTER AMENDMENT | | Management | Against | Against | |
| E3 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| O1 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| O2 | AUTHORIZE PURCHASE OF ASSETS | | Management | Against | Against | |
| O3 | INCREASE SHARE CAPITAL | | Management | Against | Against | |
| O5 | MISCELLANEOUS COMPENSATION PLANS | Management | Abstain | Against | |
| O6 | MISCELLANEOUS COMPENSATION PLANS | Management | Abstain | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 21,200 | 21,200 | 0 | 04/19/2006 |
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| DELTIC TIMBER CORPORATION | | DEL | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 247850100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RAY C. DILLON | Management | For | For | |
| | ALEX R. LIEBLONG | Management | For | For | |
| | ROBERT C. NOLAN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 30,000 | 30,000 | 0 | 04/24/2006 |
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| JOHNSON & JOHNSON | | JNJ | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 478160104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MARY S. COLEMAN | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | ROBERT J. DARRETTA | Management | For | For | |
| | MICHAEL M. E. JOHNS | Management | For | For | |
| | ANN D. JORDAN | Management | For | For | |
| | ARNOLD G. LANGBO | Management | For | For | |
| | SUSAN L. LINDQUIST | Management | For | For | |
| | LEO F. MULLIN | Management | For | For | |
| | CHRISTINE A. POON | Management | For | For | |
| | CHARLES PRINCE | Management | For | For | |
| | STEVEN S REINEMUND | Management | For | For | |
| | DAVID SATCHER | Management | For | For | |
| | WILLIAM C. WELDON | Management | For | For | |
| 02 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - REQUIRE MAJORITY OF DIRECTORS | Shareholder | For | Against | |
| TO BE INDEPENDENT | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 32,200 | 32,200 | 0 | 04/24/2006 |
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| KIMBERLY-CLARK CORPORATION | | KMB | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 494368103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | DENNIS R. BERESFORD | Management | For | For | |
| | ABELARDO E. BRU | Management | For | For | |
| | THOMAS J. FALK | Management | For | For | |
| | MAE C. JEMISON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 14,800 | 14,800 | 0 | 04/24/2006 |
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| PFIZER INC. | | PFE | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 717081103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MICHAEL S. BROWN | Management | For | For | |
| | M. ANTHONY BURNS | Management | For | For | |
| | ROBERT N. BURT | Management | For | For | |
| | W. DON CORNWELL | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | WILLIAM R. HOWELL | Management | Withheld | Against | |
| | STANLEY O. IKENBERRY | Management | For | For | |
| | GEORGE A. LORCH | Management | For | For | |
| | HENRY A. MCKINNELL | Management | For | For | |
| | DANA G. MEAD | Management | For | For | |
| | RUTH J. SIMMONS | Management | For | For | |
| | WILLIAM C. STEERE, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CHARTER AMENDMENT | | Management | For | For | |
| 04 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 06 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 08 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 10 | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 79,340 | 79,340 | 0 | 04/24/2006 |
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| SENSIENT TECHNOLOGIES CORPORATION | | SXT | | | Annual Meeting Date: 04/27/2006 |
| Issuer: 81725T100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | HANK BROWN | Management | For | For | |
| | FERGUS M. CLYDESDALE | Management | For | For | |
| | JAMES A.D. CROFT | Management | For | For | |
| | WILLIAM V. HICKEY | Management | For | For | |
| | KENNETH P. MANNING | Management | For | For | |
| | PETER M. SALMON | Management | For | For | |
| | ELAINE R. WEDRAL | Management | For | For | |
| | ESSIE WHITELAW | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 25,000 | 25,000 | 0 | 04/24/2006 |
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| ABBOTT LABORATORIES | | ABT | | | Annual Meeting Date: 04/28/2006 |
| Issuer: 002824100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | R.S. AUSTIN | Management | For | For | |
| | W.M. DALEY | Management | For | For | |
| | W.J. FARRELL | Management | Withheld | Against | |
| | H.L. FULLER | Management | For | For | |
| | R.A. GONZALEZ | Management | For | For | |
| | J.M. GREENBERG | Management | Withheld | Against | |
| | D.A.L. OWEN | Management | For | For | |
| | B. POWELL JR. | Management | For | For | |
| | W.A. REYNOLDS | Management | Withheld | Against | |
| | R.S. ROBERTS | Management | For | For | |
| | W.D. SMITHBURG | Management | For | For | |
| | J.R. WALTER | Management | Withheld | Against | |
| | M.D. WHITE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,900 | 13,900 | 0 | 04/24/2006 |
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| DOMINION RESOURCES, INC. | | D | | | Annual Meeting Date: 04/28/2006 |
| Issuer: 25746U109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PETER W. BROWN | Management | For | For | |
| | RONALD J. CALISE | Management | For | For | |
| | THOS. E. CAPPS | Management | For | For | |
| | GEORGE A. DAVIDSON, JR. | Management | For | For | |
| | THOMAS F. FARRELL, II | Management | For | For | |
| | JOHN W. HARRIS | Management | For | For | |
| | ROBERT S. JEPSON, JR. | Management | For | For | |
| | MARK J. KINGTON | Management | For | For | |
| | BENJAMIN J. LAMBERT III | Management | For | For | |
| | RICHARD L. LEATHERWOOD | Management | For | For | |
| | MARGARET A. MCKENNA | Management | For | For | |
| | FRANK S. ROYAL | Management | Withheld | Against | |
| | S. DALLAS SIMMONS | Management | For | For | |
| | DAVID A. WOLLARD | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 04 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 3,800 | 3,800 | 0 | 04/24/2006 |
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| MOTOROLA, INC. | | MOT | | | Annual Meeting Date: 05/01/2006 |
| Issuer: 620076109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | Abstain | Against | |
| 1F | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1G | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1H | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1I | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1J | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1K | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1L | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 30,900 | 30,900 | 0 | 04/26/2006 |
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| THE BOEING COMPANY | | BA | | | Annual Meeting Date: 05/01/2006 |
| Issuer: 097023105 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN H. BIGGS | Management | For | For | |
| | JOHN E. BRYSON | Management | For | For | |
| | LINDA Z. COOK | Management | For | For | |
| | WILLIAM M. DALEY | Management | For | For | |
| | KENNETH M. DUBERSTEIN | Management | Withheld | Against | |
| | JOHN F. MCDONNELL | Management | For | For | |
| | W. JAMES MCNERNEY, JR. | Management | For | For | |
| | RICHARD D. NANULA | Management | For | For | |
| | ROZANNE L. RIDGWAY | Management | Withheld | Against | |
| | MIKE S. ZAFIROVSKI | Management | For | For | |
| 02 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | ELIMINATE SUPERMAJORITY REQUIREMENT TO ACT BY | Management | For | For | |
| WRITTEN CONSENT | | | | | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 06 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 07 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 08 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
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| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 16,400 | 16,400 | 0 | 04/26/2006 |
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| AMEREN CORPORATION | | AEE | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 023608102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | SUSAN S. ELLIOTT | Management | For | For | |
| | GAYLE P.W. JACKSON | Management | For | For | |
| | JAMES C. JOHNSON | Management | For | For | |
| | RICHARD A. LIDDY | Management | For | For | |
| | GORDON R. LOHMAN | Management | For | For | |
| | RICHARD A. LUMPKIN | Management | For | For | |
| | CHARLES W. MUELLER | Management | For | For | |
| | DOUGLAS R. OBERHELMAN | Management | Withheld | Against | |
| | GARY L. RAINWATER | Management | For | For | |
| | HARVEY SALIGMAN | Management | For | For | |
| | PATRICK T. STOKES | Management | For | For | |
| 02 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 04 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 11,100 | 11,100 | 0 | 04/26/2006 |
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| DANAHER CORPORATION | | DHR | | | Annual Meeting Date: 05/02/2006 |
| Issuer: 235851102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MORTIMER M. CAPLIN | Management | For | For | |
| | DONALD J. EHRLICH | Management | For | For | |
| | LINDA P. HEFNER | Management | For | For | |
| | WALTER G. LOHR, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 24,400 | 24,400 | 0 | 04/26/2006 |
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| AMERICAN STANDARD COMPANIES, INC. | | ASD | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 029712106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | STEVEN F. GOLDSTONE | Management | Withheld | Against | |
| | KIRK S. HACHIGIAN | Management | For | For | |
| | EDWARD E. HAGENLOCKER | Management | Withheld | Against | |
| | DALE F. MORRISON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 23,400 | 23,400 | 0 | 05/01/2006 |
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| PEPSICO, INC. | | PEP | | | Annual Meeting Date: 05/03/2006 |
| Issuer: 713448108 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.F. AKERS | Management | For | For | |
| | R.E. ALLEN | Management | For | For | |
| | D. DUBLON | Management | For | For | |
| | V.J. DZAU | Management | For | For | |
| | R.L. HUNT | Management | Withheld | Against | |
| | A. IBARGUEN | Management | For | For | |
| | A.C. MARTINEZ | Management | Withheld | Against | |
| | I.K. NOOYI | Management | For | For | |
| | S.S REINEMUND | Management | For | For | |
| | S.P. ROCKEFELLER | Management | For | For | |
| | J.J. SCHIRO | Management | For | For | |
| | F.A. THOMAS | Management | For | For | |
| | C.M. TRUDELL | Management | For | For | |
| | D. VASELLA | Management | For | For | |
| | M.D. WHITE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 04 | S/H - REPORT ON CHARITABLE CONRIBUTIONS | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 40,000 | 40,000 | 0 | 05/01/2006 |
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| EMC CORPORATION | | EMC | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 268648102 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | GAIL DEEGAN | Management | For | For | |
| | OLLI-PEKKA KALLASVUO | Management | For | For | |
| | WINDLE B. PRIEM | Management | For | For | |
| | ALFRED M. ZEIEN | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - AUDIT COMMITTEE | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 30,800 | 30,800 | 0 | 05/02/2006 |
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| SEMPRA ENERGY | | SRE | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 816851109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JAMES G. BROCKSMITH, JR | Management | For | For | |
| | DONALD E. FELSINGER | Management | For | For | |
| | WILLIAM D. JONES | Management | For | For | |
| | WILLIAM G. OUCHI | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| 04 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,200 | 9,200 | 0 | 05/02/2006 |
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| VERIZON COMMUNICATIONS INC. | | VZ | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 92343V104 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J.R. BARKER | Management | Withheld | Against | |
| | R.L. CARRION | Management | Withheld | Against | |
| | R.W. LANE | Management | For | For | |
| | S.O. MOOSE | Management | For | For | |
| | J. NEUBAUER | Management | For | For | |
| | D.T. NICOLAISEN | Management | For | For | |
| | T.H. O'BRIEN | Management | For | For | |
| | C. OTIS, JR. | Management | For | For | |
| | H.B. PRICE | Management | For | For | |
| | I.G. SEIDENBERG | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.R. STAFFORD | Management | For | For | |
| | R.D. STOREY | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 08 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 32,800 | 32,800 | 0 | 05/02/2006 |
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| WISCONSIN ENERGY CORPORATION | | WEC | | | Annual Meeting Date: 05/04/2006 |
| Issuer: 976657106 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
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| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN F. AHEARNE | Management | For | For | |
| | JOHN F. BERGSTROM | Management | Withheld | Against | |
| | BARBARA L. BOWLES | Management | For | For | |
| | ROBERT A. CORNOG | Management | For | For | |
| | CURT S. CULVER | Management | For | For | |
| | THOMAS J. FISCHER | Management | For | For | |
| | GALE E. KLAPPA | Management | For | For | |
| | ULICE PAYNE, JR. | Management | For | For | |
| | F.P. STRATTON, JR. | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 12,100 | 12,100 | 0 | 05/02/2006 |
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| KERR-MCGEE CORPORATION | | KMG | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 492386107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | SYLVIA A. EARLE | Management | For | For | |
| | MARTIN C. JISCHKE | Management | For | For | |
| | LEROY C. RICHIE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,923 | 13,923 | 0 | 05/05/2006 |
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| KINDER MORGAN, INC. | | KMI | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 49455P101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RICHARD D. KINDER | Management | For | For | |
| | EDWARD H. AUSTIN, JR. | Management | For | For | |
| | WILLIAM J. HYBL | Management | For | For | |
| | TED A. GARDNER | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | AMEND STOCK PURCHASE PLAN | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 4,800 | 4,800 | 0 | 05/05/2006 |
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| NEWELL RUBBERMAID INC. | | NWL | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 651229106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | THOMAS E. CLARKE | Management | For | For | |
| | E. CUTHBERT MILLETT | Management | For | For | |
| | STEVEN J. STROBEL | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | ADOPT STOCK PURCHASE PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - DECLASSIFY BOARD | | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 38,200 | 38,200 | 0 | 05/05/2006 |
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| PRUDENTIAL FINANCIAL, INC. | | PRU | | | Annual Meeting Date: 05/09/2006 |
| Issuer: 744320102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | FREDERIC K. BECKER | Management | For | For | |
| | GORDON M. BETHUNE | Management | For | For | |
| | JAMES G. CULLEN | Management | For | For | |
| | WILLIAM H. GRAY III | Management | Withheld | Against | |
| | JON F. HANSON | Management | For | For | |
| | CONSTANCE J. HORNER | Management | For | For | |
| | JAMES A. UNRUH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | For | Against | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 40,200 | 40,200 | 0 | 05/05/2006 |
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| WEATHERFORD INTERNATIONAL LTD. | | WFT | | | Annual Meeting Date: 05/09/2006 |
| Issuer: G95089101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | NICHOLAS F. BRADY | Management | Withheld | Against | |
| | WILLIAM E. MACAULAY | Management | Withheld | Against | |
| | DAVID J. BUTTERS | Management | Withheld | Against | |
| | ROBERT B. MILLARD | Management | Withheld | Against | |
| | BERNARD J. DUROC-DANNER | Management | Withheld | Against | |
| | ROBERT K. MOSES, JR. | Management | For | For | |
| | SHELDON B. LUBAR | Management | For | For | |
| | ROBERT A. RAYNE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT OMNIBUS STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 22,400 | 22,400 | 0 | 05/05/2006 |
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| AMGEN INC. | | AMGN | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 031162100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | MR. FREDERICK W. GLUCK | Management | For | For | |
| | ADM. J. PAUL REASON | Management | For | For | |
| | DR. DONALD B. RICE | Management | Withheld | Against | |
| | MR. LEONARD D SCHAEFFER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 3A | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 3B | S/H PROPOSAL - EXECUTIVE COMPENSATION | Shareholder | | | |
| 3C | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 3D | S/H PROPOSAL - ANIMAL RIGHTS | | Shareholder | Against | For | |
| 3E | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 3F | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 15,100 | 15,100 | 0 | 05/08/2006 |
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| BROWN & BROWN, INC. | | BRO | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 115236101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | J. HYATT BROWN | Management | Withheld | Against | |
| | SAMUEL P. BELL, III | Management | Withheld | Against | |
| | HUGH M. BROWN | Management | For | For | |
| | BRADLEY CURREY, JR. | Management | For | For | |
| | JIM W. HENDERSON | Management | For | For | |
| | THEODORE J. HOEPNER | Management | For | For | |
| | DAVID H. HUGHES | Management | For | For | |
| | JOHN R. RIEDMAN | Management | For | For | |
| | JAN E. SMITH | Management | For | For | |
| | CHILTON D. VARNER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 24,400 | 24,400 | 0 | 05/08/2006 |
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| GILEAD SCIENCES, INC. | | GILD | | | Annual Meeting Date: 05/10/2006 |
| Issuer: 375558103 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PAUL BERG | Management | For | For | |
| | JOHN F. COGAN | Management | For | For | |
| | ETIENNE F. DAVIGNON | Management | For | For | |
| | JAMES M. DENNY | Management | Withheld | Against | |
| | JOHN W. MADIGAN | Management | For | For | |
| | JOHN C. MARTIN | Management | For | For | |
| | GORDON E. MOORE | Management | For | For | |
| | NICHOLAS G. MOORE | Management | Withheld | Against | |
| | GAYLE E. WILSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| 05 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | Against | Against | |
| 06 | S/H PROPOSAL - HEALTH ISSUES | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 22,000 | 22,000 | 0 | 05/08/2006 |
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| ANADARKO PETROLEUM CORPORATION | | APC | | | Annual Meeting Date: 05/11/2006 |
| Issuer: 032511107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | ROBERT J. ALLISON, JR. | Management | For | For | |
| | JOHN W. PODUSKA, SR. | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 5,300 | 5,300 | 0 | 05/09/2006 |
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| TRANSOCEAN INC. | | RIG | | | Annual Meeting Date: 05/11/2006 |
| Issuer: G90078109 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | VICTOR E. GRIJALVA | Management | For | For | |
| | ARTHUR LINDENAUER | Management | For | For | |
| | KRISTIAN SIEM | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 14,100 | 14,100 | 0 | 05/09/2006 |
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| SEALED AIR CORPORATION | | SEE | | | Annual Meeting Date: 05/12/2006 |
| Issuer: 81211K100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 03 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 04 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 05 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 06 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 07 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 08 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 09 | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 10 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 25,000 | 25,000 | 0 | 05/10/2006 |
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| JPMORGAN CHASE & CO. | | JPM | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 46625H100 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN H. BIGGS | Management | For | For | |
| | STEPHEN B. BURKE | Management | For | For | |
| | JAMES S. CROWN | Management | For | For | |
| | JAMES DIMON | Management | For | For | |
| | ELLEN V. FUTTER | Management | For | For | |
| | WILLIAM H. GRAY, III | Management | Withheld | Against | |
| | WILLIAM B. HARRISON, JR | Management | For | For | |
| | LABAN P. JACKSON, JR. | Management | For | For | |
| | JOHN W. KESSLER | Management | For | For | |
| | ROBERT I. LIPP | Management | For | For | |
| | RICHARD A. MANOOGIAN | Management | For | For | |
| | DAVID C. NOVAK | Management | For | For | |
| | LEE R. RAYMOND | Management | For | For | |
| | WILLIAM C. WELDON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 04 | S/H - INDEXING OF STOCK OPTIONS | | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - SEPARATE CHAIRMAN/CEO | Shareholder | | | |
| 06 | S/H - CREATE A NON-DISCRIMATORY SEXUAL ORIENTATION | Shareholder | Against | For | |
| POLICY | | | | | |
| 07 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 09 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 10 | S/H PROPOSAL - REDEEM POISON PILL | | Shareholder | For | Against | |
| 11 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 12 | S/H PROPOSAL - LIMIT COMPENSATION | | Shareholder | Against | For | |
| 13 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,800 | 13,800 | 0 | 05/12/2006 |
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| ROYAL DUTCH SHELL PLC | | RDSA | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 780259206 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | APPROVE FINANCIAL STATEMENTS,ALLOCATION OF INCOME, | Management | For | For | |
| AND DISCHARGE DIRECTORS | | | | | |
| 02 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 03 | ELECTION OF DIRECTORS | | Management | For | | |
| | JORMA OLLILA# | Management | For | For | |
| | NICK LAND# | Management | For | For | |
| | LORD KERR# U + | Management | For | For | |
| | JEROEN VAN DER VEER | Management | For | For | |
| | ROB ROUTS | Management | For | For | |
| | WIM KOK# N | Management | For | For | |
| 09 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 10 | APPROVE RENUMERATION OF DIRECTORS AND AUDITORS | Management | For | For | |
| 11 | ALLOT SECURITIES | | Management | For | For | |
| 12 | AUTHORIZE CO TO CARRY OUT RIGHTS ISSUES/LTD ISSUANCES | Management | For | For | |
| W/O PREEMPTIVE RIGHTS | | | | | |
| 13 | AUTHORIZE DIRECTORS TO REPURCHASE SHARES | Management | For | For | |
| 14 | MISCELLANEOUS CORPORATE ACTIONS | | Management | For | For | |
| 15 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 14,900 | 14,900 | 0 | 05/05/2006 |
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| THE ALLSTATE CORPORATION | | ALL | | | Annual Meeting Date: 05/16/2006 |
| Issuer: 020002101 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | F. DUANE ACKERMAN | Management | For | For | |
| | JAMES G. ANDRESS | Management | For | For | |
| | W. JAMES FARRELL | Management | Withheld | Against | |
| | JACK M. GREENBERG | Management | Withheld | Against | |
| | RONALD T. LEMAY | Management | For | For | |
| | EDWARD M. LIDDY | Management | For | For | |
| | J. CHRISTOPHER REYES | Management | Withheld | Against | |
| | H. JOHN RILEY, JR. | Management | For | For | |
| | JOSHUA I. SMITH | Management | For | For | |
| | JUDITH A. SPRIESER | Management | Withheld | Against | |
| | MARY ALICE TAYLOR | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | APPROVE STOCK COMPENSATION PLAN | | Management | | | |
| 05 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 12,300 | 12,300 | 0 | 05/12/2006 |
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| AMERICAN INTERNATIONAL GROUP, INC. | | AIG | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 026874107 | ISIN: | | | | |
| SEDOL: | | | | | |
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| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PEI-YUAN CHIA | Management | For | For | |
| | MARSHALL A. COHEN | Management | Withheld | Against | |
| | MARTIN S. FELDSTEIN | Management | For | For | |
| | ELLEN V. FUTTER | Management | For | For | |
| | STEPHEN L. HAMMERMAN | Management | For | For | |
| | RICHARD C. HOLBROOKE | Management | For | For | |
| | FRED H. LANGHAMMER | Management | For | For | |
| | GEORGE L. MILES, JR. | Management | For | For | |
| | MORRIS W. OFFIT | Management | For | For | |
| | JAMES F. ORR III | Management | For | For | |
| | MARTIN J. SULLIVAN | Management | For | For | |
| | MICHAEL H. SUTTON | Management | For | For | |
| | EDMUND S.W. TSE | Management | For | For | |
| | ROBERT B. WILLUMSTAD | Management | For | For | |
| | FRANK G. ZARB | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 29,260 | 29,260 | 0 | 05/15/2006 |
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| TARGET CORPORATION | | TGT | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 87612E106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RICHARD M. KOVACEVICH | Management | For | For | |
| | GEORGE W. TAMKE | Management | For | For | |
| | SOLOMON D. TRUJILLO | Management | For | For | |
| | ROBERT J. ULRICH | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 25,200 | 25,200 | 0 | 05/15/2006 |
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| THE HARTFORD FINANCIAL SVCS GROUP, I | | HIG | | | Annual Meeting Date: 05/17/2006 |
| Issuer: 416515104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | RAMANI AYER | Management | For | For | |
| | RAMON DE OLIVEIRA | Management | For | For | |
| | EDWARD J. KELLY, III | Management | For | For | |
| | PAUL G. KIRK, JR. | Management | For | For | |
| | THOMAS M. MARRA | Management | For | For | |
| | GAIL J. MCGOVERN | Management | For | For | |
| | MICHAEL G. MORRIS | Management | For | For | |
| | ROBERT W. SELANDER | Management | For | For | |
| | CHARLES B. STRAUSS | Management | For | For | |
| | H. PATRICK SWYGERT | Management | For | For | |
| | DAVID K. ZWIENER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 26,400 | 26,400 | 0 | 05/15/2006 |
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| J. C. PENNEY COMPANY, INC. | | JCP | | | Annual Meeting Date: 05/19/2006 |
| Issuer: 708160106 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | V.E. JORDAN, JR. | Management | Withheld | Against | |
| | B. OSBORNE | Management | For | For | |
| | M.B. STONE WEST | Management | For | For | |
| | R.G. TURNER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | DECLASSIFY BOARD | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 23,200 | 23,200 | 0 | 05/17/2006 |
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| | | | | | |
| LIMITED BRANDS, INC. | | LTD | | | Annual Meeting Date: 05/22/2006 |
| Issuer: 532716107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | E. GORDON GEE | Management | Withheld | Against | |
| | JAMES L. HESKETT | Management | For | For | |
| | ALLAN R. TESSLER | Management | For | For | |
| | ABIGAIL S. WEXNER | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 39,300 | 39,300 | 0 | 05/19/2006 |
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| | | | | | |
| INTRALASE CORP. | | ILSE | | | Annual Meeting Date: 05/23/2006 |
| Issuer: 461169104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | WILLIAM J. LINK | Management | For | For | |
| | GILBERT H. KLIMAN | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 57,200 | 57,200 | 0 | 05/19/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CITI TRENDS, INC. | | CTRN | | | Annual Meeting Date: 05/24/2006 |
| Issuer: 17306X102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | PATRICIA M. LUZIER | Management | For | For | |
| 02 | APPROVE AUTHORIZED COMMON STOCK INCREASE | Management | Against | Against | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 36,900 | 36,900 | 0 | 05/22/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EL PASO CORPORATION | | EP | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 28336L109 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | JUAN CARLOS BRANIFF | Management | For | For | |
| | JAMES L. DUNLAP | Management | For | For | |
| | DOUGLAS L. FOSHEE | Management | For | For | |
| | ROBERT W. GOLDMAN | Management | For | For | |
| | ANTHONY W. HALL, JR. | Management | For | For | |
| | THOMAS R. HIX | Management | For | For | |
| | WILLIAM H. JOYCE | Management | For | For | |
| | RONALD L. KUEHN, JR. | Management | For | For | |
| | FERRELL P. MCCLEAN | Management | For | For | |
| | J. MICHAEL TALBERT | Management | For | For | |
| | ROBERT F. VAGT | Management | For | For | |
| | JOHN L. WHITMIRE | Management | For | For | |
| | JOE B. WYATT | Management | For | For | |
| 02 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 03 | S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE | Shareholder | For | Against | |
| COMPENSATION | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 60,800 | 60,800 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GENZYME CORPORATION | | GENZ | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 372917104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | DR. VICTOR DZAU | Management | For | For | |
| | SENATOR CONNIE MACK | Management | Withheld | Against | |
| | HENRI A. TERMEER | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | AMEND STOCK OPTION PLAN | | Management | For | For | |
| 04 | DECLASSIFY BOARD | | Management | For | For | |
| 05 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 06 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | For | Against | |
| VOTE | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 12,000 | 12,000 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| LOWE'S COMPANIES, INC. | | LOW | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 548661107 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | PETER C. BROWNING | Management | Withheld | Against | |
| | MARSHALL O. LARSEN | Management | For | For | |
| | STEPHEN F. PAGE | Management | For | For | |
| | O. TEMPLE SLOAN, JR. | Management | For | For | |
| 02 | APPROVE CASH/STOCK BONUS PLAN | | Management | | | |
| 03 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 04 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 05 | APPROVE ARTICLE AMENDMENTS | | Management | For | For | |
| 06 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,700 | 9,700 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| THE HOME DEPOT, INC. | | HD | | | Annual Meeting Date: 05/25/2006 |
| Issuer: 437076102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | GREGORY D. BRENNEMAN | Management | For | For | |
| | JOHN L. CLENDENIN | Management | Withheld | Against | |
| | CLAUDIO X. GONZALEZ | Management | Withheld | Against | |
| | MILLEDGE A. HART, III | Management | For | For | |
| | BONNIE G. HILL | Management | Withheld | Against | |
| | LABAN P. JACKSON, JR. | Management | For | For | |
| | LAWRENCE R. JOHNSTON | Management | For | For | |
| | KENNETH G. LANGONE | Management | Withheld | Against | |
| | ANGELO R. MOZILO | Management | For | For | |
| | ROBERT L. NARDELLI | Management | For | For | |
| | THOMAS J. RIDGE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - REPORT ON EEO | | Shareholder | | | |
| 05 | S/H PROPOSAL - ESTABLISH INDEPENDENT CHAIRMAN | Shareholder | | | |
| 06 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 07 | S/H PROPOSAL - PUT GOLDEN PARACHUTE TO SHAREHOLDER | Shareholder | Against | For | |
| VOTE | | | | | |
| 08 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 09 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 10 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,000 | 13,000 | 0 | 05/23/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| GIVEN IMAGING LTD. | | GIVN | | | Annual Meeting Date: 05/30/2006 |
| Issuer: M52020100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | MR. DORON BIRGER | Management | For | For | |
| | MR. GAVRIEL D. MERON | Management | For | For | |
| | MR. NACHUM SHAMIR | Management | For | For | |
| | MR. CHEN BARIR | Management | For | For | |
| | MR. EYAL LIFSCHITZ | Management | For | For | |
| | PROF. ANAT LEOWENSTEIN | Management | For | For | |
| 02 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 03 | MISCELLANEOUS COMPENSATION PLANS | Management | For | For | |
| 04 | ADOPT INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 05 | APPROVE DIRECTOR INDEMNIFICATION | | Management | For | For | |
| 06 | AUTHORIZE PAYMENT OF DIRECTORS' FEES | Management | For | For | |
| 07 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 36,900 | 36,900 | 0 | 05/25/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EXXON MOBIL CORPORATION | | XOM | | | Annual Meeting Date: 05/31/2006 |
| Issuer: 30231G102 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | M.J. BOSKIN | Management | For | For | |
| | W.W. GEORGE | Management | For | For | |
| | J.R. HOUGHTON | Management | For | For | |
| | W.R. HOWELL | Management | Withheld | Against | |
| | R.C. KING | Management | For | For | |
| | P.E. LIPPINCOTT | Management | For | For | |
| | H.A. MCKINNELL, JR. | Management | For | For | |
| | M.C. NELSON | Management | For | For | |
| | S.J. PALMISANO | Management | For | For | |
| | W.V. SHIPLEY | Management | For | For | |
| | J.S. SIMON | Management | For | For | |
| | R.W. TILLERSON | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADOPT CUMULATIVE VOTING | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - CORPORATE GOVERNANCE | Shareholder | For | Against | |
| 05 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 06 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | For | Against | |
| 09 | S/H - REPORT ON EXECUTIVE COMPENSATION | Shareholder | For | Against | |
| 11 | S/H PROPOSAL - POLITICAL/GOVERNMENT | Shareholder | Against | For | |
| 12 | MISCELLANEOUS SHAREHOLDER PROPOSAL | Shareholder | Against | For | |
| 14 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 15 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 72,800 | 72,800 | 0 | 05/26/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| CELGENE CORPORATION | | CELG | | | Annual Meeting Date: 06/14/2006 |
| Issuer: 151020104 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | JOHN W. JACKSON | Management | For | For | |
| | SOL J. BARER, PH.D. | Management | For | For | |
| | ROBERT J. HUGIN | Management | For | For | |
| | JACK L. BOWMAN | Management | For | For | |
| | MICHAEL D. CASEY | Management | Withheld | Against | |
| | RODMAN L. DRAKE | Management | For | For | |
| | A. HULL HAYES, JR., MD | Management | For | For | |
| | GILLA KAPLAN, PH.D. | Management | For | For | |
| | RICHARD C.E. MORGAN | Management | For | For | |
| | WALTER L. ROBB, PH.D. | Management | For | For | |
| 02 | AMEND INCENTIVE STOCK OPTION PLAN | | Management | For | For | |
| 03 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 28,400 | 28,400 | 0 | 06/12/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BEST BUY CO., INC. | | BBY | | | Annual Meeting Date: 06/21/2006 |
| Issuer: 086516101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | | | |
| | BRADBURY H. ANDERSON | Management | For | For | |
| | KATHY J. HIGGINS VICTOR | Management | For | For | |
| | ALLEN U. LENZMEIER | Management | For | For | |
| | FRANK D. TRESTMAN | Management | Withheld | Against | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 31,200 | 31,200 | 0 | 06/20/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| EXELON CORPORATION | | EXC | | | Annual Meeting Date: 06/27/2006 |
| Issuer: 30161N101 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | M.W. D'ALESSIO | Management | For | For | |
| | R.B. GRECO | Management | For | For | |
| | J.M. PALMS | Management | For | For | |
| | J.W. ROGERS | Management | For | For | |
| | R.L. THOMAS | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO | Shareholder | For | Against | |
| RATIFY POISON PILL | | | | | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,100 | 9,100 | 0 | 06/27/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| SUPERVALU INC. | | SVU | | | Annual Meeting Date: 06/28/2006 |
| Issuer: 868536103 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 1A | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1B | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1C | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1D | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 1E | MISCELLANEOUS CORPORATE GOVERNANCE | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 9,350 | 9,350 | 0 | 06/27/2006 |
| | | | | | |
| | | | | | |
| | | | | | |
| BED BATH & BEYOND INC. | | BBBY | | | Annual Meeting Date: 06/29/2006 |
| Issuer: 075896100 | ISIN: | | | | |
| SEDOL: | | | | | |
| | | | | | | |
| Vote Group: GLOBAL | | | | | |
| | | | | | |
| Proposal | | | Proposal | Vote | For or Against | |
| Number | Proposal | | Type | Cast | Management | |
| 01 | ELECTION OF DIRECTORS | | Management | For | | |
| | STEVEN H. TEMARES | Management | For | For | |
| | KLAUS EPPLER | Management | For | For | |
| | FRAN STOLLER | Management | For | For | |
| 02 | RATIFY APPOINTMENT OF INDEPENDENT AUDITORS | Management | For | For | |
| 03 | S/H PROPOSAL - ADD WOMEN & MINORITIES TO BOARD | Shareholder | Against | For | |
| 04 | S/H PROPOSAL - HUMAN RIGHTS RELATED | Shareholder | Against | For | |
| 05 | S/H PROPOSAL - ENVIRONMENTAL | | Shareholder | Against | For | |
| 06 | DECLASSIFY BOARD | | Management | For | For | |
| | | | | | |
| | Custodian | Ballot | Voted | Holdings | Vote |
| Account Name | Account | Shares | Shares | Shares | Date |
| SM&R GROWTH FUND INC | 1856060901 | 13,900 | 13,900 | 0 | 06/27/2006 |
| | | | | | |
| | | | | | | |
| | | | | | |
| SM&R GOVERNMENT BOND PORTFOLIO | | | | |
| | | | | | |
| There were no meetings voted in this portfoliol | | | | |
| | | | | | |
| | | | | | |
| SM&R TAX FREE PORTFOLIO | | | | | |
| | | | | | |
| There were no meetings voted in this portfoliol | | | | |
| | | | | | |
| SM&R PRIMARY PORTFOLIO | | | | | |
| | | | | | |
| There were no meetings voted in this portfoliol | | | | |
| | | | | | |
| SM&R MONEY MARKET PORTFOLIO | | | | | |
| | | | | | |
| There were no meetings voted in this portfoliol | | | | |
| | | | | | |
| | | | | | |
| | | | | | |
| SIGNATURES | |
| | | | | | |
| Pursuant to the 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. |
| | | | | | |
| (Registrant) SM&R Investments, Inc. | | | | | |
| | | | | | |
| By (Signature and Title) /s/ Michael W. McCroskey | | | | | |
| President & CEO | | | | | |
| | | | | | |
| Date August 31, 2006 | | | | | |
