Latin American Discovery Fund (LDF) N-PX Annual report of proxy voting record

UNITED STATES	OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549	OMB Number:  3235-0582
	Expires:    March 31, 2006
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FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number  811-6574
The Latin American Discover Fund, Inc.
(Exact name of registrant as specified in charter)
1221 Avenue of the Americas,  New York, New York	10020
(Address of principal executive offices)	(Zip code)
Barry Fink Esq. Morgan Stanley Investment Advisors Inc. 1221 Avenue of the Americas New York, New York  10020
(Name and address of agent for service)
Registrant’s telephone number, including area code:  800-869-6397
Date of fiscal year end:  12/31
Date of reporting period:  6/30/04

Item 1. Proxy Voting Record.

Disclose the following information for each matter relating to a portfolio security considered at any shareholder meeting held during the period covered by the report and with respect to which the registrant was entitled to vote:

(a)	The name of the issuer of the portfolio security;
(b)	The exchange ticker symbol of the portfolio security;
(c)	The Council on Uniform Securities Identification Procedures (“CUSIP”) number for the portfolio security;
(d)	The shareholder meeting date;
(e)	A brief identification of the matter voted on;
(f)	Whether the matter was proposed by the issuer or by a security holder;
(g)	Whether the registrant cast its vote on the matter;
(h)	How the registrant cast its vote (e.g., for or against proposal, or abstain; for or withhold regarding election of directors); and
(i)	Whether the registrant cast its vote for or against management.

FORM N-Px REPORT

ICA File Number: 811-06574

Reporting Period: 07/01/2003 - 06/30/2004

The Latin America Discovery Fund, Inc.

THE LATIN AMERICAN DISCOVERY FUND, INC.

ALFA S.A.

Ticker:		Security ID:	MXP000511016
Meeting Date:	MAR 24, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Allocation of Income and Dividends of USD 0.075 Per Share; Set Maximum Limit of Share Repurchase Reserve	For	For	Management
3	Elect Directors and Supervisory Board and Fix Their Remuneration	For	For	Management
4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
5	Approve Minutes of Meeting	For	For	Management

ALFA S.A.

Ticker:		Security ID:	MXP000511016
Meeting Date:	FEB 4, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve MXN 26 Million Reduction in Capital for Bonus Payment to Shareholders	For	For	Management
2	Grant Board Authority to Conven an EGM in First Quarter of 2005 Re: Reduction in Capital	For	For	Management
3	Amend Article 7 Re: Reflect Changes in Capital and Compliance with Mexican Market Regulations	For	For	Management
4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
5	Approve Minutes of Meeting	For	For	Management

1

BANCO ITAU HOLDING FINANCEIRA(FRMLY BANCO ITAU S.A.)

Ticker:		Security ID:	BRITAUACNPR3
Meeting Date:	APR 28, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize BRL 3.2 Billion Capital Increase Via Capitalization of Reserves	For	Did Not Vote	Management
2	Cancel 664.3 Million Company Treasury Shares	For	Did Not Vote	Management
3	Approve 1,000:1 Reverse Stock Split	For	Did Not Vote	Management
4	Approve Increase in Authorized Capital to 100 Million Ordinary Shares and 100 Million Preference Shares	For	Did Not Vote	Management
5	Approve Creation of Audit Committee; Set Committee Responsibilities	For	Did Not Vote	Management
6	Restructure of Consulting Board and International Consulting Committee	For	Did Not Vote	Management
7	Amend Articles Re: Changes in Capital, Audit Committee, and Restructuring of Consulting Boards	For	Did Not Vote	Management
8	Ammend Incentive Stock Option Plan	For	Did Not Vote	Management
9	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
10	Approve Allocation of Income	For	Did Not Vote	Management
11	Elect Directors and Supervisory Board Members	For	Did Not Vote	Management
12	Approve Remuneration of Board Members, Executive Officer Board Members, Consulting Board and International Consulting Committee Members, and Supervisory Board Members	For	Did Not Vote	Management

2

BANCO SANTANDER CHILE (FORMERLY BANCO SANTIAGO)

Ticker:		Security ID:	05965X109
Meeting Date:	APR 20, 2004	Meeting Type:	Annual
Record Date:	MAR 24, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE ANNUAL REPORT, BALANCE SHEET AND CONSOLIDATED FINANCIAL STATEMENTS OF THE BANK AND ITS SUBSIDIARIES, THE INDEPENDENT REPORT OF THE EXTERNAL AUDITORS, AND THE NOTES CORRESPONDING TO THE FINANCIAL YEAR ENDING DECEMBER 31ST OF 2003.	For	For	Management
2	RESOLVE THE ALLOCATION OF 2003 NET INCOME. A DIVIDEND OF CH$1.09832343 PER SHARE WILL BE PROPOSED, WHICH IF APPROVED, WILL BE PAID ON MAY 4, 2004.	For	For	Management
3	DESIGNATION OF EXTERNAL AUDITORS.	For	For	Management
4	NOMINATION OF NEW BOARD MEMBERS: LUCIA SANTA-CRUZ, FERNANDO CANAS	For	For	Management
5	DETERMINE THE BOARD OF DIRECTORS REMUNERATION.	For	For	Management
6	APPROVAL OF THE DIRECTORS COMMITTEE S BUDGET.	For	For	Management
7	GIVE ACCOUNT OF ALL OPERATIONS SUBJECT TO ARTICLE 44 OF LAW 18,046.	For	For	Management
8	DISCUSS ANY MATTER OF INTEREST THAT CORRESPONDS TO BE DISCUSSED IN AN ORDINARY SHAREHOLDERS MEETING ACCORDING TO CURRENT LAWS AND THE BANK S BYLAWS.	For	Against	Management
9	MODIFY THE BANK S LEGAL NAME.	For	For	Management
10	ADOPT ALL MEASURES NEEDED TO PUT INTO EFFECT THE RESOLUTIONS APPROVED IN THE EXTRAODINARY SHAREHOLDERS MEETING.	For	For	Management

BRASIL TELECOM SA(FORMERLY TELEPAR, TELECOM. DO PARANA)

Ticker:		Security ID:	BRBRTOACNOR8
Meeting Date:	JAN 16, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Limits for Sale of Assets	For	Did Not Vote	Management
2	Elect Supervisory Board Member	For	Did Not Vote	Management

3

BRASIL TELECOM SA(FORMERLY TELEPAR, TELECOM. DO PARANA)

Ticker:		Security ID:	BRBRTOACNOR8
Meeting Date:	SEP 8, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Article 28 Re: Board of Directors	For	For	Management
2	Amend Article 47 and 49 Re: Board Comittees’ Duties	For	Against	Management

C.A. NACIONAL TELEFONOS DE VENEZUELA (CANTV)

Ticker:	VNT	Security ID:	204421101
Meeting Date:	MAR 31, 2004	Meeting Type:	Annual
Record Date:	MAR 2, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	THE APPROVAL OF THE ANNUAL REPORT AND FINANCIAL STATEMENTS OF THE COMPANY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003.	For	For	Management
2	THE APPROVAL OF THE PAYMENT OF AN ORDINARY DIVIDEND FOR 2004 OF BS. 550 PER SHARE REPRESENTING US$ 2.01 PER ADS.	For	For	Management
3	AUTHORIZATION TO ISSUE BONDS AND COMMERCIAL PAPER.	For	Against	Management
4	ELECTION OF: GUSTAVO ROOSEN (PRINCIPAL) VICENTE LLATAS (ALTERNATE)	For	For	Management
5	ELECTION OF: DANIEL PETRI (PRINCIPAL) AND MIKE PAWLOWSKI (ALTERNATE)	For	For	Management
6	ELECTION OF: JOHN LACK (PRINCIPAL) AND CHARLES FALLINI (ALTERNATE)	For	For	Management
7	ELECTION OF: JOHN DOHERTY (PRINCIPAL) AND LUIS ESTEBAN PALACIOS (ALTERNATE)	For	For	Management
8	ELECTION OF: JOSE M. ORTEGA (PRINCIPAL) AND ARTURO BANEGAS (ALTERNATE)	For	For	Management
9	ELECTION OF: RICARDO HAUSMANN (PRINCIPAL) AND GERMAN GARCIA-VELUTINI (ALTERNATE)	For	For	Management
10	APPROVAL OF ESPINEIRA, SHELDON Y ASOCIADOS- MEMBER FIRM OF PRICEWATERHOUSECOOPERS, AS EXTERNAL AUDITORS FOR 2004.	For	For	Management
11	Ratify Auditors	For	For	Management

4

C.A. NACIONAL TELEFONOS DE VENEZUELA (CANTV)

Ticker:	VNT	Security ID:	204421101
Meeting Date:	DEC 2, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize Reduction in Share Capital Via Redemption of Shares	For	For	Management
2	Approve Distribution of Cash Dividend	For	For	Management

CARSO GLOBAL TELECOM

Ticker:		Security ID:	MXP740451010
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Individual and Consolidated Financial Statements and Satutory Reports; Approve Allocation of Income	For	For	Management
2	Approve Discharge of Management Board; Elect Members to Management and Supervisory Board and Their Respective Alternates; Fix Their Remuneration	For	For	Management
3	Elect Directors to Various Board Committees; Fix Their Remuneration	For	For	Management
4	Set Aggregate Nominal Amount of Share Repurchase Reserve for Fiscal Year 2004; Approve Share Repurchase Guidelines	For	For	Management
5	Designate Shareholder Representatives of Minutes of Meeting	For	For	Management

CARSO GLOBAL TELECOM

Ticker:		Security ID:	MXP740451010
Meeting Date:	DEC 8, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles	For	Against	Management
2	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management

5

CEMEX S.A.

Ticker:	CMXYY	Security ID:	MXP225611567
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Allocation of Income; Set Aggregate Nominal Amount of Share Repurchase Reserve	For	For	Management
3	Authorize Capitalization of Reserves	For	For	Management
4	Elect Directors and Supervisory Board	For	For	Management
5	Approve Remuneration of Directors and Supervisory Board	For	For	Management
6	Designate Shareholder Representative(s) of Minutes of Meeting	For	For	Management

CEMIG, COMPANHIA ENERGETICA DE MINAS GERAIS

Ticker:	CZME70	Security ID:	BRCMIGACNPR3
Meeting Date:	APR 30, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Approve Payment of Dividends and Interest on Capital of BRL 320.5 Million	For	Did Not Vote	Management
4	Elect Supervisory Board Members and Alternates; Fix Their Remuneration	For	Did Not Vote	Management
5	Approve Remuneration of Directors	For	Did Not Vote	Management
6	Grant Executive Officer Board Authorization to Exercise Duties Regulated Under Article 17 of Bylaws, Pending Decision of ANEEL	For	Did Not Vote	Management
7	Amend Contract Agreement Between State of Minas Gerais and Company Re: ‘Contrato de Cessao de Credito da Conta de Resultados a Compensar’; Approve New Dividend Policy	None	Did Not Vote	Shareholder

COCA-COLA FEMSA S.A.

Ticker:	KOF	Security ID:	191241108
Meeting Date:	DEC 9, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to Comply with Mexican Legislation Law	For	For	Management
2	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
3	Approve Minutes of Meeting	For	For	Management

6

COCA-COLA FEMSA S.A.

Ticker:	KOF	Security ID:	191241108
Meeting Date:	MAR 9, 2004	Meeting Type:	Annual
Record Date:	FEB 9, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	ELECTION OF THE DIRECTORS, EXAMINERS, CHAIRMAN AND SECRETARY OF THE BOARD OF DIRECTORS, AND RESOLUTION WITH RESPECT TO THEIR REMUNERATION.	For	For	Management

COMPANHIA SIDERURGICA NACIONAL (CSN)

Ticker:	SID	Security ID:	20440W105
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:	APR 12, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	CONFIRMATION OF THE REASSESSMENT OF PROPERTY, PLANT AND EQUIPMENT APPROVED IN THE ANNUAL AND SPECIAL SHAREHOLDERS MEETING HELD ON APRIL 29, 2003.	For	For	Management
2	EXAMINING THE MANAGERS ACCOUNTS, EXAMINE, DISCUSS AND VOTE THE FINANCIAL STATEMENTS AND ADMINISTRATION REPORT.	For	For	Management
3	APPROVAL OF THE DESTINATION OF THE 2003 BUSINESS YEAR S NET PROFIT AND THE DISTRIBUTION OF DIVIDENDS.	For	For	Management
4	APPROVAL OF CAPITAL BUDGET.	For	For	Management
5	ELECTION OF THE BOARD OF DIRECTOR S MEMBERS.	For	For	Management
6	ESTABLISHMENT OF THE ANNUAL GLOBAL REMUNERATION OF THE BOARD OF DIRECTORS AND OF EXECUTIVES.	For	For	Management
7	CHANGE OF THE NEWSPAPERS IN WHICH THE COMPANY PUBLISHES ITS LEGAL MATTERS.	For	For	Management
8	APPROVAL OF THE AMENDMENT OF THE 2ND ARTICLE OF THE BYLAWS.	For	For	Management
9	APPROVAL OF THE SPLIT OF SHARES REPRESENTING THE COMPANY S CAPITAL STOCK.	For	For	Management

7

COMPANHIA SIDERURGICA NACIONAL (CSN)

Ticker:	SID	Security ID:	BRCSNAACNOR6
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Ratify Correction on Revaluation of Assets Approved at 4-29-03 AGM to BRL 10.8 Billion from BRL 10.5 Billion	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve BRL 1.1 Billion Allocation of Income; Approve Distribution of BRL 471.8 Million as Dividends and BRL 245.5 Million as Interest on Capital	For	Did Not Vote	Management
4	Approve Capital Budget	For	Did Not Vote	Management
5	Elect Members to Management Board	For	Did Not Vote	Management
6	Approve Annual Global Remuneration of Directors in the Amount of BRL 28 Million	For	Did Not Vote	Management
7	Designate Newspaper to Publish Meeting Announcements	For	Did Not Vote	Management
8	Amend Articles Re: Extend Corporate Purpose and Share Capital	For	Did Not Vote	Management

COMPANHIA VALE DO RIO DOCE

Ticker:		Security ID:	204412100
Meeting Date:	APR 28, 2004	Meeting Type:	Annual
Record Date:	MAR 29, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPRECIATION OF THE MANAGEMENT S REPORT AND ANALYSIS, DISCUSSION AND VOTE ON THE FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2003.	For	Did Not Vote	Management
2	PROPOSAL FOR THE DESTINATION OF THE PROFITS OF THE SAID FISCAL YEAR.	For	Did Not Vote	Management
3	ESTABLISHMENT OF THE TOTAL AND ANNUAL REMUNERATION OF THE MEMBERS OF THE COMPANY S MANAGEMENT.	For	Did Not Vote	Management
4	ELECTION OF THE MEMBERS OF THE FISCAL COUNCIL AND ESTABLISHMENT OF THEIR REMUNERATION.	For	Did Not Vote	Management
5	PROPOSAL OF CAPITAL INCREASE, THROUGH THE CAPITALIZATION OF RESERVES, WITHOUT THE ISSUANCE OF SHARES, AND THE CONSEQUENT CHANGE OF THE HEAD SECTION OF ARTICLE 5 OF THE COMPANY S BY-LAWS.	For	Did Not Vote	Management

8

COMPANHIA VALE DO RIO DOCE

Ticker:		Security ID:	BRVALEACNPA3
Meeting Date:	APR 28, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Approve Annual Aggregate Remuneration of Directors	For	Did Not Vote	Management
4	Elect Supervisory Board Members and Fix Their Remuneration	For	Did Not Vote	Management
5	Authorize Increase in Capital Via Capitalization of Reserves	For	Did Not Vote	Management

COMPANIA DE TELECOMUNICACIONES DE CHILE S.A (TELEFONICA)

Ticker:	CTC	Security ID:	204449300
Meeting Date:	JUL 11, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Extraordinary Dividends of CLP 17.5 Per Share Charged to Retained Earnings	For	For	Management
2	Amend Article 5 to Reflect Changes in Capital Due to Capitalization of Share Premium Account	For	For	Management
3	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management

CORPORACION GEO S A DE CV

Ticker:		Security ID:	MXP3142C1177
Meeting Date:	APR 21, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Statutory Reports	For	For	Management
2	Accept Financial Statements	For	For	Management
3	Approve Discharge of Management Board	For	For	Management
4	Approve Allocation of Income	For	For	Management
5	Elect Directors, Supervisory Board Members, and Board Secretary	For	For	Management
6	Approve Remuneration of Directors, Supervisory Board Members, and Board Secretary	For	For	Management
7	Set Aggregate Nominal Amount of Share Repurchase Reserve	For	For	Management
8	Designate Shareholder Representatives of Minutes of Meeting	For	For	Management
9	Approve Minutes of Meeting	For	For	Management

9

CORPORACION GEO S A DE CV

Ticker:		Security ID:	MXP3142C1177
Meeting Date:	APR 21, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Removal of Poison Pill Approved at 8-31-01 EGM	For	For	Management
2	Approve Cancellation of Convertible Debentures Authorized at EGM on August 31, 2001	For	For	Management
3	Cancel Company MXN 50 Million Treasury Shares; Approve Reduction in Capital	For	For	Management
4	Approve 5:1 Stock Split	For	For	Management
5	Amend Articles	For	For	Management
6	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
7	Approve Minutes of Meeting	For	For	Management

EMBRATEL PARTICIPACOES SA

Ticker:		Security ID:	BREBTPACNPR0
Meeting Date:	JUL 23, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Management Board Members	For	Did Not Vote	Management

EMPRESAS ICA S. A.

Ticker:	ICA	Security ID:	MXP371491046
Meeting Date:	APR 16, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Board of Directors’ Report	For	For	Management
2	Accept Supervisory Board Report	For	For	Management
3	Accept Audit Committee Report	For	For	Management
4	Accept Financial Statements and Statutory Reports	For	For	Management
5	Approve Allocation of Income and Dividends; Increase Reserves	For	For	Management
6	Approve Cancellation of Stock Option Plan of ICA Executives and Employees	For	Against	Management
7	Approve Board of Directors’ Proposal to Transfer Treasury Shares to Stock Plan of ICA Executives and Employees	For	Against	Management
8	Elect Management Board, Board Secretary, Supervisory Board, and Alternates Respectively	For	For	Management
9	Elect Members to Audit Committee	For	For	Management
10	Elect Members to Executive Committee	For	For	Management
11	Approve Remuneration of Directors and Supervisory Board	For	For	Management
12	Designate Shareholder Representatives of Minutes of Meeting	For	For	Management

10

ENERSIS S.A.

Ticker:	ENI	Security ID:	29274F104
Meeting Date:	MAR 26, 2004	Meeting Type:	Special
Record Date:	FEB 18, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE REINSTATEMENT OF THE MAXIMUM CONCENTRATION LEVEL OF SHARE OWNERSHIP AND CONCENTRATION FACTOR, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING ENCLOSED HEREWITH.	For	Against	Management
2	APPROVAL OF THE ESTABLISHMENT OF A PLEDGE OVER SHARES ISSUED BY CGTF FORTALEZA S.A. WHICH ARE OWNED BY ENERSIS S.A. AS SECURITY ON CREDIT OBLIGATIONS ASSUMED BY CGTF FORTALEZA S.A. WITH INTERNATIONAL FINANCE CORPORATION, AS SET FORTH IN THE COMPANY S NOT	For	Against	Management
3	APPROVAL IN ORDER TO ADOPT THE AGREEMENTS AND DELEGATION OF POWERS OF ATTORNEY REQUIRED IN ORDER TO COMPLY WITH AGREEMENTS APPROVED BY THE SHAREHOLDERS MEETING, AS SET FORTH IN THE COMPANY S NOTICE OF MEETING ENCLOSED HEREWITH.	For	For	Management
4	APPROVAL OF THE ANNUAL REPORT, FINANCIAL STATEMENTS AND REPORT OF THE EXTERNAL AUDITORS AND INSPECTORS OF THE ACCOUNTS CORRESPONDING TO THE PERIOD ENDED DECEMBER 31, 2003.	For	For	Management
5	APPOINTMENT OF INDEPENDENT EXTERNAL ACCOUNTANTS.	For	For	Management
6	APPROVAL OF THE INVESTMENT AND FINANCING POLICY.	For	For	Management

11

FOMENTO ECONOMICO MEXICANO S.A. (FEMSA)

Ticker:		Security ID:	344419106
Meeting Date:	JUL 27, 2004	Meeting Type:	Special
Record Date:	JUL 13, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	SUBJECT TO THE APPROVAL OF, AND THE CONDITIONS IMPOSED BY THE MEXICAN SECURITIES COMMISSION AND IN ACCORDANCE WITH ARTICLE 81 OF THE MEXICAN SECURITIES MARKET LAW, TO INCREASE THE VARIABLE PORTION OF THE CAPITAL STOCK OF THE COMPANY, BY THE ISSUANCE OF C	For	For	Management
2	EXPRESS WAIVER BY THE SHAREHOLDERS TO THEIR PRE-EMPTIVE RIGHTS GRANTED BY ARTICLE 132 OF THE MEXICAN GENERAL CORPORATIONS LAW, TO SUBSCRIBE THE SHARES AND UNITS ISSUED IN ACCORDANCE WITH ITEM I OF THE AGENDA.	For	For	Management
3	APPROVE THE PUBLIC OFFER IN THE SECURITIES MARKETS OF MEXICO, UNITED STATES OF AMERICA AND OTHER MARKETS.	For	For	Management
4	TO AUTHORIZE THE DIRECTORS (1) TO DETERMINE THE SUBSCRIPTION PRICE PER SHARE, AND PER UNIT DURING THE PUBLIC OFFER; (2) TO DETERMINE THE AMOUNT TO BE ALLOCATED AS CAPITAL STOCK INCREASE AND AMOUNT AS SUBSCRIPTION PREMIUM PER SHARE AND PER UNIT, AND (3) T	For	For	Management
5	APPROVE THE CONDITIONS PRECEDENT FOR THE EFFECTIVENESS OF THE RESOLUTIONS ADOPTED DURING THE MEETING.	For	For	Management
6	ISSUANCE OF POWERS OF ATTORNEY TO EXECUTE THE RESOLUTIONS ADOPTED DURING THE MEETING.	For	For	Management
7	APPOINTMENT OF DELEGATES FOR THE SHAREHOLDERS MEETING.	For	For	Management
8	APPROVAL OF THE MINUTES OF THE SHAREHOLDERS MEETING.	For	For	Management

FOMENTO ECONOMICO MEXICANO S.A. (FEMSA)

Ticker:		Security ID:	344419106
Meeting Date:	DEC 10, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Compliance with Mexican Market Law	For	For	Management
2	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
3	Approve Minutes of Meeting	For	For	Management

12

GRUPO AEROPUERTOARIO DEL SURESTE, S.A. DE C.V.

Ticker:		Security ID:	40051E202
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:	APR 8, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE REPORT OF THE BOARD OF DIRECTORS PURSUANT TO ARTICLE 172 OF THE GENERAL LAW OF COMMERCIAL COMPANIES.	For	For	Management
2	APPROVAL OF THE ANNUAL REPORT OF THE AUDIT COMMITTEE REGARDING ITS ACTIVITIES AS PROVIDED BY ARTICLE 14 BIS 3 OF THE SECURITIES MARKET LAW (LEY DEL MERCADO DE VALORES).	For	For	Management
3	APPROVAL OF THE REPORT OF THE STATUTORY AUDITOR.	For	For	Management
4	APPROVAL OF THE INDIVIDUAL AND CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003.	For	For	Management
5	APPROVAL OF THE APPLICATION OF THE RESULTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2003.	For	For	Management
6	PRESENTATION OF THE REPORT OF THE NOMINATIONS AND COMPENSATIONS COMMITTEE.	For	For	Management
7	PROPOSAL OF THE BOARD OF DIRECTORS TO PAY AN ORDINARY CASH DIVIDEND, AS MORE FULLY DESCRIBED IN THE AGENDA.	For	For	Management
8	ELECT PRINCIPAL AND ALTERNATE DIRECTORS AND SUPERVISORY BOARD MEMBERS	For	For	Management
9	ADOPTION OF THE RESOLUTIONS REGARDING THE REMUNERATION TO BE PAID TO MEMBERS AND ALTERNATES OF THE BOARD OF DIRECTORS AND STATUTORY AUDITORS.	For	For	Management
10	APPROVAL OF THE APPOINTMENT OF DELEGATES TO FORMALIZE THE RESOLUTIONS ADOPTED IN THIS ANNUAL SHAREHOLDERS MEETING.	For	For	Management

GRUPO FINANCIERO BANORTE S.A.

Ticker:		Security ID:	MXP370711014
Meeting Date:	APR 29, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Allocation of Income	For	For	Management
3	Elect Members to Management and Supervisory Boards	For	For	Management
4	Approve Remuneration of Directors and Supervisory Board Members	For	For	Management
5	Accept Director’s Report on Share Repurchase Plan; Set Limit for Share Repurchase Reserve	For	For	Management
6	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
7	Approve Minutes of Meeting	For	For	Management

13

GRUPO FINANCIERO BANORTE S.A.

Ticker:		Security ID:	MXP370711014
Meeting Date:	OCT 16, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Cash Dividend	For	For	Management
2	Designate Inspector or Shareholder Represntative(s) to Execute Dividend Distribution	For	For	Management
3	Approve Minutes of Meeting	For	For	Management

GRUPO FINANCIERO BANORTE S.A.

Ticker:		Security ID:	MXP370711014
Meeting Date:	APR 29, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Merger by Absorption of Generali Mexico - Compania de Seguros S.A., and of Another Financial Firm	For	Against	Management
2	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
3	Approve Minutes of Meeting	For	For	Management

GRUPO FINANCIERO BBVA BANCOMER

Ticker:		Security ID:	MX01GF360007
Meeting Date:	JAN 7, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Compliance With Mexican Market Legislation	For	Did Not Vote	Management
2	Designate Two Shareholders to Approve and Sign Minutes of Meeting	For	Did Not Vote	Management

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GRUPO MEXICO SA DE CV (FM. NUEVA GR. MEXICO SACV)

Ticker:		Security ID:	MXP370841019
Meeting Date:	APR 30, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Accept Audit Committee Report	For	For	Management
3	Approve Allocation of Income	For	For	Management
4	Elect Members to Management and Supervisory Boards and Audit, Executive, and Remuneration Committees	For	For	Management
5	Approve Remuneration of Directors and Supervisory Board and Committee Members	For	For	Management
6	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management

GRUPO TELEVISA, S.A.

Ticker:	TV	Security ID:	40049J206
Meeting Date:	DEC 23, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Compliance with Mexican Market Law Approved on 6-2-01 and 3-19-03 Respectively	For	For	Management
2	Approve Capital Reduction Via Cancellation of Treasury Shares; Amend Article 6 Accordingly	For	For	Management
3	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management

PETROLEO BRASILEIRO

Ticker:	PBR/A	Security ID:	71654V408
Meeting Date:	MAR 29, 2004	Meeting Type:	Annual
Record Date:	MAR 9, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE MANAGEMENT REPORT, THE FINANCIAL STATEMENTS AND AUDIT COMMITTEE S OPINION FOR THE FISCAL YEAR 2003.	For	For	Management
2	APPROVAL OF THE CAPITAL EXPENDITURES BUDGET FOR THE FISCAL YEAR 2004.	For	For	Management
3	APPROVAL OF THE DISTRIBUTION OF RESULTS FOR THE FISCAL YEAR 2003.	For	For	Management
4	APPROVAL OF THE ELECTION OF MEMBERS TO THE BOARD OF DIRECTORS, AUDIT COMMITTEE AND THEIR RESPECTIVE SUBSTITUTES, TO VOTE IN THE SAME MANNER AS THE MAJORITY OF THE SHAREHOLDERS AT THE MEETING.*	For	For	Management
5	APPROVAL OF THE INCREASE IN CAPITAL STOCK THROUGH THE INCORPORATION OF PART OF THE REVENUE RESERVES CONSTITUTED IN PREVIOUS FISCAL YEARS AMOUNTING TO R$ 13,033 MILLION, INCREASING THE CAPITAL STOCK FROM R$ 19,863 MILLION TO R$ 32,896 MILLION WITHOUT ANY	For	For	Management
6	APPROVAL OF THE INCREASE IN THE LIMIT OF AUTHORIZED CAPITAL FROM R$ 30 BILLION TO R$ 60 BILLION.	For	For	Management
7	APPROVAL OF THE ESTABLISHMENT OF THE COMPENSATION OF MANAGEMENT AND EFFECTIVE MEMBERS OF THE AUDIT COMMITTEE, AS WELL AS THEIR PARTICIPATION IN THE PROFITS.	For	For	Management

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QUILMES INDUSTRIAL S.A. (QUINSA)

Ticker:	LQU	Security ID:	74838Y207
Meeting Date:	JUN 25, 2004	Meeting Type:	Annual
Record Date:	MAY 21, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	REPORTS OF THE BOARD OF DIRECTORS AND THE STATUTORY AUDITORS AND APPROVAL OF THE ACCOUNTS.	For	Did Not Vote	Management
2	REPORT OF THE INDEPENDENT AUDITORS ON THE FINANCIAL YEAR 2003 AND APPROVAL OF THE CONSOLIDATED ACCOUNTS.	For	Did Not Vote	Management
3	REMUNERATION OF THE BOARD OF DIRECTORS.	For	Did Not Vote	Management
4	APPROPRIATION OF RESULTS.	For	Did Not Vote	Management
5	DISCHARGE TO THE DIRECTORS AND THE STATUTORY AUDITORS.	For	Did Not Vote	Management
6	ACQUISITION OF OWN SHARES.	For	Did Not Vote	Management
7	APPOINTMENT OF DIRECTORS.	For	Did Not Vote	Management
8	Ratify Auditors	For	Did Not Vote	Management
9	Other Business	For	Did Not Vote	Management

S.A.C.I. FALABELLA

Ticker:		Security ID:	CLP3880F1085
Meeting Date:	OCT 17, 2003	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize Capitalization of Reserves of CLP 42.5 Billion	For	For	Management
2	Approve Merger Agreement with Inversiones Sodimac SA	For	For	Management
3	Approve Merger Balance Sheet	For	For	Management
4	Approve Sept. 1, 2003 as Effective Date of Merger	For	For	Management
5	Issue 417.7 Million Shares in Connection with Merger	For	For	Management
6	Amend Articles to Reflect Changes in Capital in Connection with Merger	For	For	Management
7	Ratify Statements of Company Representative Re: Company’s Financial Situation and Make Necessary Changes if Declarations Do Not Match 7-23-03 Agreement or Purchase Option of Inmobiliaria Prodeco SA	For	For	Management
8	Inform Shareholders of Purchase of 13.2 Million Shares of Sodimac SA (Related-Party Transaction)	For	For	Management
9	Change Board Size to Reflect New Ownership Structure	For	For	Management
10	Authorize Board to Ratify and Execute Merger	For	For	Management

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TELESP CELULAR PARTICIPACOES S/A

Ticker:		Security ID:	BRTSPPACNPR0
Meeting Date:	MAR 26, 2004	Meeting Type:	Special
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect One Member to Management Board	For	Did Not Vote	Management

TELESP CELULAR PARTICIPACOES S/A

Ticker:		Security ID:	BRTSPPACNPR0
Meeting Date:	MAR 26, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Elect Supervisory Board	For	Did Not Vote	Management
3	Approve Aggregate Remuneration for Directors and Individual Remuneration for Supervisory Board Members	For	Did Not Vote	Management
4	Ratify Election of Two Board Members	For	Did Not Vote	Management

TENARIS SA, LUXEMBOURG

Ticker:		Security ID:	88031M109
Meeting Date:	MAY 26, 2004	Meeting Type:	Annual
Record Date:	APR 16, 2004

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE COMPANY S CONSOLIDATED FINANCIAL STATEMENTS AS OF, AND FOR THE FISCAL YEAR ENDED, DECEMBER 31, 2003.	For	For	Management
2	APPROVAL OF THE COMPANY S ANNUAL ACCOUNTS AS OF, AND FOR THE FISCAL YEAR ENDED, DECEMBER 31, 2003. APPROVAL OF THE REPORT FROM THE BOARD OF DIRECTORS AND FROM THE INDEPENDENT AUDITOR OF THE ANNUAL ACCOUNTS.	For	For	Management
3	APPROVAL OF DIVIDEND PAYMENT.	For	For	Management
4	DISCHARGE OF BOARD OF DIRECTORS RESPONSIBILITIES.	For	For	Management
5	ELECTION OF MEMBERS OF THE BOARD OF DIRECTORS.	For	For	Management
6	AUTHORIZATION TO THE BOARD OF DIRECTORS TO DELEGATE THE DAY-TO- DAY MANAGEMENT OF THE BUSINESS TO ONE OR MORE OF ITS MEMBERS.	For	For	Management
7	DETERMINATION OF COMPENSATION TO THE MEMBERS OF THE BOARD OF DIRECTORS.	For	For	Management
8	Ratify Auditors	For	For	Management

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WAL-MART DE MEXICO S.A. DE C.V. (FRMRLY. CIFRA S.A.)

Ticker:		Security ID:	MXP810071011
Meeting Date:	FEB 25, 2004	Meeting Type:	Annual
Record Date:

#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Chairman’s Report	For	Did Not Vote	Management
2	Accept Audit Committee’s Report	For	Did Not Vote	Management
3	Accept Supervisory Board Report	For	Did Not Vote	Management
4	Accept Financial Statements	For	Did Not Vote	Management
5	Accept Report Re: Share Repurchase Reserve	For	Did Not Vote	Management
6	Cancel 27.6 Million Series C Treasury Shares	For	Did Not Vote	Management
7	Approve Conversion of Class C Shares into Class V Shares, Increasing Voting Rights of Class C Shareholders	For	Did Not Vote	Management
8	Approve Allocation of Income	For	Did Not Vote	Management
9	Approve Dividend of MXN 0.44 Per Share Payable in Cash or Shares	For	Did Not Vote	Management
10	Approve MXN 1.9 Billion Increase in Variable Capital Through Issuance of 98.4 Million Common Shares to Service Stock Dividend Payout Proposed in Previous Item; Cancel Unused Portion of Capital Increase	For	Did Not Vote	Management
11	Amend Articles	For	Did Not Vote	Management
12	Accept Report Re: Employee Stock Option Plan	For	Did Not Vote	Management
13	Accept Report Re: Wal-Mart de Mexico Foundation	For	Did Not Vote	Management
14	Approve Discharge of Directors	For	Did Not Vote	Management
15	Elect Members of Management and Supervisory Boards	For	Did Not Vote	Management
16	Approve Minutes of Meeting	For	Did Not Vote	Management

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SIGNATURES

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

(Registrant)		The Latin American Discovery Fund, Inc.
By (Signature and Title)*			/s/ Ronald E. Robison
			Principal Executive Officer
Date	August 27, 2004

* Print the name and title of each signing officer under his or her signature.

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