Aberdeen Investment Funds N-PX Annual report of proxy voting record

UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number              811- 6652

Julius Baer Investment Funds

(Exact name of registrant as specified in charter)

330 Madison Avenue, New York, NY	10017
(Address of principal executive offices)	(Zip code)
Michael K. Quain c/o Julius Baer Investment Management LLC 330 Madison Avenue New York, NY 10017
(Name and address of agent for service)
Registrant’s telephone number, including area code:    (212) 297-3600
Date of fiscal year end:    10/31/04
Date of reporting period:     7/1/03 - 6/30/04

FORM N-PX REPORT

ICA File Number: 811-06652

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

Julius Baer Investment Funds

JULIUS BAER GLOBAL HIGH YIELD BOND FUND

The fund did not hold any portfolio securities with respect to which the fund was entitled to vote during the period from July 1, 2003 through June 30, 2004.

JULIUS BAER INTERNATIONAL EQUITY FUND

ABB LTD. ZUERICH

Ticker:		Security ID:  CH0012221716
Meeting Date:  MAY 18, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
4	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
5	Reelect Roger Agnelli, Juergen Dormann, Louis Hughes, Hans Maerki, Michel de Rosen, Michael Treschow, Bernd Voss, and Jacob Wallenberg as Directors	For	Did Not Vote	Management
6	Ratify Ernst & Young AG as Auditors	For	Did Not Vote	Management

1

ABBEY NATIONAL PLC

Ticker:  ABYNY		Security ID:  GB0000044551
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 16.67 Pence Per Share	For	For	Management
4.1	Elect Priscilla Vacassin as Director	For	For	Management
4.2	Elect Angus Porter as Director	For	For	Management
4.3	Elect Tony Wyatt as Director	For	For	Management
4.4	Elect Gerard Murphy as Director	For	For	Management
4.5	Elect Geoffrey Cooper as Director	For	For	Management
5.1	Re-elect Yasmin Jetha as Director	For	For	Management
5.2	Re-elect Mark Pain as Director	For	For	Management
5.3	Re-elect Leon Allen as Director	For	For	Management
6	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For	Management
7	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
8	Authorise EU Political Donations up to GBP 150,000 and EU Political Expenditure up to GBP 150,000	For	For	Management
9	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to GBP 703,722,815; USD 9,820,000; and EUR 10,000,000	For	For	Management
10	Approve Abbey Performance Share Plan	For	For	Management
11	Authorise 146,277,184 Ordinary Shares for Market Purchase	For	For	Management
12.1	Authorise 125,000,000 8.625% Sterling Preference Shares for Market Purchase	For	For	Management
12.2	Authorise 200,000,000 10.375% Sterling Preference Shares for Market Purchase	For	For	Management
12.3	Authorise 18,000,000 Series B Dollar Preference Shares for Market Purchase	For	For	Management
13	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,313,859	For	For	Management

ADECCO SA

Ticker:  ADO		Security ID:  CH0012138605
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Receive Auditors Report	None	Did Not Vote	Management
3	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Approve Allocation of Income and Dividends of CHF 0.70 per Share	For	Did Not Vote	Management
5	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
6.1	Reelect Philippe Foriel-Destezet and Philippe Marcel as Directors; Elect Jakob Baer, Juergen Dormann, Klaus Jacobs, Fancis Mer, Thomas O’Neill, David Prince, and Peter Ueberoth as Directors	For	Did Not Vote	Management
6.2.1	Ratify Ernst and Young as Auditors	For	Did Not Vote	Management
6.2.2	Ratify OBT AG as Special Auditors	For	Did Not Vote	Management
7	Amend Articles Re: Remove Voting Restrictions	For	Did Not Vote	Management

2

ADIDAS-SALOMON AG

Ticker:  ADDDY		Security ID:  DE0005003404
Meeting Date:  MAY 13, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.00 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Elect Henri Filho, Hans Friderichs, Manfred Gentz, Igor Landau, Willi Schwerdtle, Christian Tourres, and Stefan Jentzsch to the Supervisory Board	For	Did Not Vote	Management
6	Approve Creation of EUR 11.6 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
7	Authorize Cancellation of 2001 AGM Issuance of Shares	For	Did Not Vote	Management
8	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 500 Million with Preemptive Rights; Approve Creation of EUR 9.1 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
9	Amend 1999 Stock Option Plan	For	Did Not Vote	Management
10	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
11	Ratify KPMG Deutsche Treuhand Gesellschaft AG as Auditors	For	Did Not Vote	Management

3

AEDES SPA

Ticker:		Security ID:  IT0000074028
Meeting Date:  APR 29, 2004		Meeting Type:  Annual/Special
Record Date:  APR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Authorize Share Repurchase Program and Reissuance of Repurchased Shares; Cancel April 28, 2003, Authorization to Repurchase Shares	For	Did Not Vote	Management
3	Fix Number of Directors on the Board; Elect Directors	For	Did Not Vote	Management
4	Integrate Mandate to External Auditors: Fix Remuneration of Auditors	For	Did Not Vote	Management
5	Adopt New Articles of Association To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management
6	Approve Merger by Absorption of Solaria srl and Immobiliare Panda srl, Two Wholly-Owned Subsidiaries of Aedes Spa	For	Did Not Vote	Management
7	Revoke May 13, 1999, Capital-Related Resolution; Authorize Board to Issue Convertible Bonds or Bonds With Warrants Attached; Amend Articles of Association Accordingly	For	Did Not Vote	Management

AGORA SA

Ticker:		Security ID:  PLAGORA00067
Meeting Date:  JUN 24, 2004		Meeting Type:  Annual
Record Date:  JUN 17, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman; Adopt Meeting Rules	For	Did Not Vote	Management
3	Receive Financial Statements, Management Board Report and Consolidated Financial Statements	None	Did Not Vote	Management
4	Receive and Approve Financial Statements and Management Board Report	For	Did Not Vote	Management
5	Receive and Approve Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
6	Approve Allocation of Income	For	Did Not Vote	Management
7	Approve Discharge of Management Board	For	Did Not Vote	Management
8	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
9	Elect Two Supervisory Board Members	For	Did Not Vote	Management
10	Approve Issuance of Series B Shares for Employee Stock Participation Plan	For	Did Not Vote	Management
11	Amend Statute	For	Did Not Vote	Management
12	Elect One Management Board Member	For	Did Not Vote	Management
13	Approve Unified Text of Statute	For	Did Not Vote	Management
14	Close Meeting	None	Did Not Vote	Management

4

AHOLD KON NV

Ticker:  AHO		Security ID:  NL0000331817
Meeting Date:  SEP 4, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Receive Explanation with Respect to Deferral of Publication of 2002 Annual Accounts and Annual Report	None	Did Not Vote	Management
3.1A	Elect A.C. Moberg to Management Board	For	Did Not Vote	Management
3.1B	Elect M. van Olffen to Management Board	Against	Did Not Vote	Management
3.2A	Elect H.R. Ryoeppoenen to Management Board	For	Did Not Vote	Management
3.2B	Elect J.W. Hoevers to Management Board	Against	Did Not Vote	Management
4	Receive Presentation about Company’s New Strategy	None	Did Not Vote	Management
5	Close Meeting	None	Did Not Vote	Management

AHOLD KON NV

Ticker:  AHO		Security ID:  NL0000331817
Meeting Date:  MAR 3, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Discussion of Company’s Corporate Governance Structure	None	Did Not Vote	Management
3	Amend Articles Re: Changes to Company’s Corporate Governance Structure to Reflect Recommendations by Dutch Corporate Governance Code	For	Did Not Vote	Management
4	Approve Terms Governing Conversion of Cumulative Preferred Financing Shares into Common Shares	For	Did Not Vote	Management
5	Approve Remuneration Policy of Executive Board	For	Did Not Vote	Management
6	Receive Information on Current Investigations and Lawsuits	None	Did Not Vote	Management
7	Adjourn Meeting	None	Did Not Vote	Management

5

AIR FRANCE

Ticker:		Security ID:  FR0000031122
Meeting Date:  APR 20, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize Capital Increase of Up to EUR 1.15 Billion in Association with KLM N.V. Share Exchange Offer	For	Did Not Vote	Management
2	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 400 Million	For	Did Not Vote	Management
3	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did Not Vote	Management
4	Authorize Capitalization of Reserves of Up to EUR 400 Million for Bonus Issue or Increase in Par Value	For	Did Not Vote	Management
5	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management
6	Amend Articles of Association Re: Board Guidelines, Board Committees, Appointment of Chairman, and Establishment of Strategic Management Committee	For	Did Not Vote	Management
7	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

AK ENERJI ELEKTRIK URETIM

Ticker:		Security ID:  TRAAKENR91L9
Meeting Date:  OCT 23, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Fix Number of and Elect Directors, and Determine Their Terms of Office	For	Did Not Vote	Management

AK ENERJI ELEKTRIK URETIM

Ticker:		Security ID:  TRAAKENR91L9
Meeting Date:  MAR 23, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Board and Internal Auditor Reports	For	Did Not Vote	Management
4	Accept Independent External Auditor’s Report	For	Did Not Vote	Management
5	Accept Financial Statements and Allocation of Income	For	Did Not Vote	Management
6	Approve Discharge of Board and Management	For	Did Not Vote	Management
7	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
8	Elect Directors and Internal Auditors and Determine Their Terms of Office	For	Did Not Vote	Management
9	Ratify Independent External Auditors	For	Did Not Vote	Management
10	Grant Permission for Board Members to Engage in Commercial Transactions With the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management

6

AKBANK

Ticker:		Security ID:  TRAAKBNK91N6
Meeting Date:  DEC 25, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council and Authorize Council to Sign Minutes of Meeting	For	Did Not Vote	Management
2	Amend Articles Re: Corporate Purpose, Capital Payment Rules, and Distribution of Profits	For	Did Not Vote	Management
3	Approve Report Re: Donationa Made in 2002	For	Did Not Vote	Management

AKSA

Ticker:		Security ID:  TRAAKSAW91E1
Meeting Date:  APR 14, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Board and Statutory Reports	For	Did Not Vote	Management
4	Accept Independent External Auditors Report	For	Did Not Vote	Management
5	Approve Financial Statements and Allocation of Income	For	Did Not Vote	Management
6	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
7	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
8	Elect Directors and Determine Their Terms of Office	For	Did Not Vote	Management
9	Elect Internal Auditors and Determine Their Terms of Office	For	Did Not Vote	Management
10	Ratify Independent External Auditors	For	Did Not Vote	Management
11	Grant Permission for Board Members to Engage in Commercial Transactions with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management

7

ALCATEL (FORMERLY ALCATEL ALSTHOM)

Ticker:  ALA		Security ID:  FR0000130007
Meeting Date:  MAY 25, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Treatment of Losses	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Reelect Jozef Cornu as Director	For	Did Not Vote	Management
6	Authorize Issuance of Bonds/Debentures in the Aggregate Amount of EUR 10 Billion	For	Did Not Vote	Management
7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
8	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
9	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million	For	Did Not Vote	Management
10	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million	For	Did Not Vote	Management
11	Set Global Limit for Capital Increase to Result from All Issuance Requests At EUR 750 Million	For	Did Not Vote	Management
12	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did NotVote	Management
13	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

8

ALMANIJ N.V.

Ticker:		Security ID:  BE0003703171
Meeting Date:  JUN 2, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Directors’ Reports	None	Did Not Vote	Management
2	Receive Auditors’ Reports	None	Did Not Vote	Management
3	Receive Consolidated Financial Statements and Statutory Reports (Non-Voting)	None	Did Not Vote	Management
4	Approve Financial Statements, Allocation of Income, and Gross Dividends in the Amount of EUR 1.50 Per Share	For	Did Not Vote	Management
5	Approve Discharge of Directors	For	Did Not Vote	Management
6	Approve Discharge of Auditors	For	Did Not Vote	Management
7.1	Elect Germain Vantieghem as Directors	For	Did Not Vote	Management
7.2	Elect Lode Morlion as Directors	For	Did Not Vote	Management
7.3	Receive Announcement of Retirement of Gui de Vaucleroy as Director	None	Did Not Vote	Management
7.4	Ratify Philippe Naert and Dirk Heremans as Independent Directors in Accordance with the Requirements of the Belgian Companies Code	For	Did Not Vote	Management
7.5	Reelect Paul Bostoen, Rik Donckels, Alain Tydgadt, and Guido Van Roey as Directors	For	Did Not Vote	Management
8	Reelect Ernst & Young as Auditors (Represented by D. Vermaelen and/or J. Romont); Fix Remuneration at EUR 29,000 Per Auditor or EUR 58,000 for Board of Auditors	For	Did Not Vote	Management
9	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
10	Allow Questions	None	Did Not Vote	Management

ALMANIJ N.V.

Ticker:		Security ID:  BE0003703171
Meeting Date:  JUN 2, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Directors’ Report on Proposed Share Issuance	None	Did Not Vote	Management
2	Authorize Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did Not Vote	Management
3	Authorize Board to Repurchase Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did Not Vote	Management
4	Amend Articles Re: Require AGM to be Held on Last Wednesday of May	For	Did Not Vote	Management
5	Amend Articles Re: Distribution of Balance	For	Did Not Vote	Management
6	Authorize Board to Ratify and Execute Approved Resolutions	For	Did Not Vote	Management

9

ALTADIS S.A. (FORMERLY TABACALERA, S.A.)

Ticker:		Security ID:  ES0177040013
Meeting Date:  JUN 14, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Allocation of Income and Distribution of EUR 0.80 Per Share Dividend, and Discharge Directors	For	For	Management
2	Ratify Management Board	For	For	Management
3	Approve Auditors	For	For	Management
4	Approve EUR 4.4 Million Reduction in Capital Via Cancellation of 7.3 Million Shares; Ammend Company’s By-Laws Accordingly	For	For	Management
5	Authorize Share Repurchase Program	For	For	Management
6	Authorize Issuance of Bonds	For	For	Management
7	Amend Articles 22, 23, 25, and 28 Re: Elimination of Shareholidng Requirement to Attend Shareholder Meetings, Remote Voting, Elimination of Supermajority Quorums and Vote Requirement for Certain Proposals, Increase Shareholders’ Access to Information	For	For	Management
8	Approve General Meeting Guidelines	For	For	Management
9	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management

ALUMINA LTD (FORMERLY WMC LIMITED)

Ticker:		Security ID:  AU000000AWC3
Meeting Date:  APR 21, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	None	Management
2	Elect Peter A. F. Hay as Director	For	For	Management
3	Amend Articles Re: Unmarketable Parcels of Shares	For	For	Management

AMP LIMITED

Ticker:		Security ID:  AU000000AMP6
Meeting Date:  MAY 20, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	None	None	Management
2a	Elect P Handley as Director	For	For	Management
2b	Elect P Mason as Director	For	For	Management
2c	Elect N Scheinkestel as Director	For	For	Management
3	Approve Reduction in the Aggregate Maximum Fees to AUD1.5 Million Plus Statutory Superannuation Guarantee Contributions	For	For	Management

AMP LIMITED

Ticker:		Security ID:  AU000000AMP6
Meeting Date:  DEC 9, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve the Cancellation of the Cancellation Number Scheme Shares and then Convert the Remaining Number Scheme Shares Equal to the Original Number Scheme Shares	For	For	Management
1	Approve Cancellation of 11.5 Million RPS Preference Shares	For	For	Management

10

AMP LIMITED

Ticker:		Security ID:  AU000000AMP6
Meeting Date:  DEC 9, 2003		Meeting Type:  Court
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Scheme of Arrangement	For	For	Management

ATOS ORIGIN (FORMERLY ATOS)

Ticker:		Security ID:  FR0000051732
Meeting Date:  JAN 22, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Acquisition of 97.8 Percent Stake in Sema Ltd. from Schlumberger Investments Ltd. and 99.9 Percent Stake in Sema SA from Schlumberger SA	For	Did Not Vote	Management
2	Authorize Issuance of 13.4 Million Shares to Schlumberger Investments Ltd. and 5.6 Million Shares to Schlumberger SA in Connection with Acquisitions	For	Did Not Vote	Management
3	Amend Articles to Reflect Changes in Capital	For	Did Not Vote	Management
4	Authorize Management Board to Carry Out Formalities Related to Acquisition	For	Did Not Vote	Management
5	Approve Stock Option Plan Grants	For	Did Not Vote	Management
6	Fix Number of Supervisory Board Members Between 3 and 12, Subject to Approval of Items 1-4	For	Did Not Vote	Management
7	Accept Resignation of Cor Boonstra, Ari Westerlaken, and Dominique Ferrero as Members of the Supervisory Board	For	Did Not Vote	Management
8	Elect Andrew Gould as Supervisory Board Member	For	Did Not Vote	Management
9	Elect Jean Marc Perraud as Supervisory Board Member	For	Did Not Vote	Management
10	Elect Gerard Ruizendaal as Supervisory Board Member	For	Did Not Vote	Management
11	Elect Jan Oosterveld as Supervisory Board Member	For	Did Not Vote	Management
12	Change Location of Registered Office/Headquarters	For	Did Not Vote	Management
13	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

11

AUTOLIV INC.

Ticker:  ALV		Security ID:  SE0000382335
Meeting Date:  APR 27, 2004		Meeting Type:  Annual
Record Date:  MAR 2, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Elect  Director Per-Olof Aronson	For	For	Management
1.2	Elect  Director Walter Kunerth	For	For	Management
1.3	Elect  Director Lars Westerberg	For	For	Management
2	Amend Omnibus Stock Plan	For	For	Management
3	Ratify Auditors	For	For	Management

AVENTIS SA (FORMERLY RHONE-POULENC )

Ticker:  AVE.X		Security ID:  FR0000130460
Meeting Date:  JUN 1, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of EUR 1.23 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
6	Ratify Yves Nicolas as Alternate Auditor	For	Did Not Vote	Management
7	Amend Article 7 to Reflect 2003 Legal Changes Re: Shareholding Disclosure Requirement	For	Did Not Vote	Management
8	Amend Article 11 to Set Term of Management Board Members at Three Years, Down From Five Years Previously	For	Did Not Vote	Management
9	Amend Article 13 to Set Term of Supervisory Board Members at Three Years, Down From Five Years Previously	For	Did Not Vote	Management
10	Reelect Jean-Marc Bruel as Supervisory Board Member	For	Did Not Vote	Management
11	Reelect Martin Fruhauf as Supervisory Board Member	For	Did Not Vote	Management
12	Reelect Serge Kampf as Supervisory Board Member	For	Did Not Vote	Management
13	Reelect Hubert Markl as Supervisory Board Member	For	Did Not Vote	Management
14	Reelect Gunter Metz as Supervisory Board Member	For	Did Not Vote	Management
15	Reelect Didier Pineau-Valencienne as Supervisory Board Member	For	Did Not Vote	Management
16	Reelect Seham Razzouqi as Supervisory Board Member	For	Did Not Vote	Management
17	Reelect Michel Renault as Supervisory Board Member	For	Did Not Vote	Management
18	Reelect Hans-Jurgen Schinzler as Supervisory Board Member	For	Did Not Vote	Management
19	Reelect Marc Vienot as Supervisory Board Member	For	Did Not Vote	Management
20	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

12

AYALA CORPORATION

Ticker:  AYYLY		Security ID:  PHY0486V1071
Meeting Date:  MAR 26, 2004		Meeting Type:  Annual
Record Date:  FEB 9, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Determination of Quorum	For	For	Management
2	Approve Minutes of Previous Shareholder Meeting	For	For	Management
3	Approve Annual Report	For	For	Management
4.1	Ratify Acts of the Board and the Executive Committee	For	For	Management
4.2	Ratify Resolution of the Board of Directors Adopted on Jan. 20, 2004 Declaring a 20% Stock Dividend	For	For	Management
5	Elect Directors	For	For	Management
6	Elect Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
7	Other Business	For	Against	Management
8	Adjournment	For	For	Management

AYALA LAND INC.

Ticker:		Security ID:  PHY0488F1004
Meeting Date:  MAR 24, 2004		Meeting Type:  Annual
Record Date:  FEB 5, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Proof of Notice and Determination of Quorum	For	For	Management
2	Approve Minutes of Previous Shareholder Meeting	For	For	Management
3	Approve Annual Report	For	For	Management
4	Ratify Acts of the Board and the Executive Committee	For	For	Management
5	Elect Directors	For	For	Management
6	Reappoint Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
7	Other Business	For	Against	Management
8	Adjournment	For	For	Management

13

BAE SYSTEMS (FRM.BRITISH AEROSPACE PLC )

Ticker:		Security ID:  GB0002634946
Meeting Date:  MAY 5, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 5.5 Pence Per Ordinary Share	For	For	Management
4	Re-elect Ulrich Cartellieri as Director	For	For	Management
5	Re-elect Lord Hesketh as Director	For	For	Management
6	Re-elect Steven Mogford as Director	For	For	Management
7	Re-elect George Rose as Director	For	For	Management
8	Elect Michael Hartnall as Director	For	For	Management
9	Re-appoint KPMG Audit Plc as Auditors of the Company	For	For	Management
10	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
11	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 19,748,171	For	For	Management
12	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,825,091	For	For	Management
13	Authorise 306,007,313 Ordinary Shares for Market Purchase	For	For	Management
14	Amend Articles of Association Re: Treasury Shares	For	For	Management

BALOISE HOLDING

Ticker:		Security ID:  CH0012410517
Meeting Date:  MAY 14, 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 Discharge of Board and Senior Management	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of CHF 0.60 per Share	For	Did Not Vote	Management
4	Approve Creation of CHF 553,072 Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
5	Amend Articles Re: Reduce Board Range	For	Did Not Vote	Management
6	Elect Gertrude Hoehler, Georg Krayer, Werner Kummer, and Hansjoerg Frei as Directors	For	Did Not Vote	Management
7	Ratify PricewaterhouseCoopers as Auditors	For	Did Not Vote	Management

14

BALTIKA BREWERY

Ticker:		Security ID:  RU0009107684
Meeting Date:  APR 2, 2004		Meeting Type:  Annual
Record Date:  FEB 11, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve 2003 Annual Report and Financial Statements	For	For	Management
2	Approve Dividends for 2003	For	For	Management
3.1	Elect Anton O. Artemyev as Director	For	For	Management
3.2	Elect Paul Bergkvist as Director	For	For	Management
3.3	Elect Taymuraz K. Bolloyev as Director	For	For	Management
3.4	Elect Vladimir A. Mikheev as Director	For	For	Management
3.5	Elect Christian Ramm-Smidt as Director	For	For	Management
3.6	Elect Vitaliy G. Savelyev as Director	For	For	Management
3.7	Elect Alan Holmes as Director	For	For	Management
4	Elect Members of Audit Commission	For	For	Management
5	Approve Auditors	For	For	Management

BANCA INTESA SPA (FORMERLY INTESABCI SPA )

Ticker:		Security ID:  IT0000072618
Meeting Date:  APR 14, 2004		Meeting Type:  Annual
Record Date:  APR 9, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Statutory Reports, Allocation of Income, and Distribution of Reserves and/or Company Shares	For	Did Not Vote	Management

BANCA INTESA SPA (FORMERLY INTESABCI SPA )

Ticker:		Security ID:  IT0000072618
Meeting Date:  DEC 29, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Fix Number of Directors on the Board; Elect Directors;  Determine Directors’ Term and Remuneration	For	Did Not Vote	Management

BANCA INTESA SPA (FORMERLY INTESABCI SPA )

Ticker:		Security ID:  IT0000072618
Meeting Date:  JUN 23, 2004		Meeting Type:  Special
Record Date:  JUN 18, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management

15

BANCA NAZIONALE DEL LAVORO

Ticker:		Security ID:  IT0001254884
Meeting Date:  APR 28, 2004		Meeting Type:  Annual/Special
Record Date:  APR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Directors To Substitute Former Members of the Board	For	Did Not Vote	Management
2	Authorize a 1:64 Bonus Issue of Company Shares in Favor of Holders of Ordinary Shares and/or Saving Shares	For	Did Not Vote	Management
3	Approve Financial Statements, Statutory Reports, and Allocation of Income	For	Did Not Vote	Management
4	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
1	Approve Acquisition of Coopercredito Spa	For	Did Not Vote	Management
2	Authorize Capitalization of Reserves for an Increase in Par Value from EUR 0.50 to EUR 0.72 of Both Ordinary and Saving Shares; Amend Articles of Association Accordingly	For	Did Not Vote	Management
3	Amend Articles To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management

BANCA ROMANA DEZVOLTARE S.A.

Ticker:		Security ID:  ROBRDBACNOR2
Meeting Date:  APR 26, 2004		Meeting Type:  Special
Record Date:  APR 20, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles of Association Re: Object of Activity	For	For	Management
2	Authorize Board’s President to Enter Article Amendments into Updated Text	For	For	Management

BANCA ROMANA DEZVOLTARE S.A.

Ticker:		Security ID:  ROBRDBACNOR2
Meeting Date:  APR 26, 2004		Meeting Type:  Annual
Record Date:  APR 20, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Statutory Reports	For	For	Management
2	Approve Financial Statements	For	For	Management
3	Approve Allocation of Income and Dividend of 693 lei per Share	For	For	Management
4	Approve Discharge of Directors	For	For	Management
5	Approve Budget for 2004	For	For	Management
6	Approve Remuneration of Directors	For	Against	Management

BANCA ROMANA DEZVOLTARE S.A.

Ticker:		Security ID:  ROBRDBACNOR2
Meeting Date:  JAN 23, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Gerald Le Pape as Director for a Four-Year Term	For	For	Management

16

BANCO PASTOR S. A.

Ticker:		Security ID:  ES0113770236
Meeting Date:  APR 20, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Individual and Consolidated Financial Statements and Statutory Reports and Discharge Directors	For	For	Management
2	Approve Allocation of Income and Extraordinary Dividend of EUR 0.16 Per Share	For	For	Management
3	Authorize Repurchase of Shares	For	For	Management
4	Re-elect Deloitte and Touche Espana, SL as Auditors	For	For	Management
5	Amend Article 30 to Conform with Spanish Financial Law	For	For	Management
6	Amend Articles 14, 16, 18, 19, 21 and 22 to Conform with Corporate Governance Law	For	For	Management
7	Approve General Meeting Guidelines	For	For	Management
8	Information Re: Board Guidelines	For	For	Management
9	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	For	Management
10	Authorize Issuance of Bonds and Similar Debt Instruments	For	For	Management
11	Approve Partial Spin-Off Agreement of Pastor Servicios Financieros, EFC, SA	For	Against	Management
12	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management
13	Approve Minutes of Meeting	For	For	Management

BANK AUSTRIA CREDITANSTALT

Ticker:		Security ID:  AT0000995006
Meeting Date:  MAY 19, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.02 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
4	Authorize Repurchase of Up to Five Percent of Issued Share Capital for Trading Purposes	For	Did Not Vote	Management
5	Ratify Auditors	For	Did Not Vote	Management

17

BANK MILLENNIUM SPOLKA AKCYJNA (FORMERLY BIG BANK GDANSKI S.A)

Ticker:		Security ID:  PLBIG0000016
Meeting Date:  MAY 27, 2004		Meeting Type:  Annual
Record Date:  MAY 19, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Receive Information about Voting Rules	None	Did Not Vote	Management
3	Elect Meeting Chairman	For	Did Not Vote	Management
4	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
5	Approve Agenda of Meeting	For	Did Not Vote	Management
6	Elect Members of Election Committee	For	Did Not Vote	Management
7	Receive and Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
8	Accept Consolidated Financial Statements for Bank’s Group	For	Did Not Vote	Management
9	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
10	Approve Allocation of Income	For	Did Not Vote	Management
11	Approve Covering of Losses for Former BIG Bank S.A.	For	Did Not Vote	Management
12	Approve Resolution Concerning Corporate Governance Principles Published in ‘Best Practices in Public Companies in 2002’	For	Did Not Vote	Management
13	Elect Supervisory Board	For	Did Not Vote	Management
14	Close Meeting	None	Did Not Vote	Management

BANK OF FUKUOKA LTD.

Ticker:		Security ID:  JP3804000002
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 2.5, Final JY 2.5, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3	Approve Retirement Bonus for Director	For	For	Management

18

BANK OF IRELAND GROUP

Ticker:		Security ID:  IE0030606259
Meeting Date:  JULY 09, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive and Consider Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Confirm and Declare a Final Dividend	For	Did Not Vote	Management
3a	Reelect Roy Bailie as a Director	For	Did Not Vote	Management
3b	Reelect Laurence Crowley as a Director	For	Did Not Vote	Management
3c	Reelect Donal Geaney as a Director	For	Did Not Vote	Management
3d	Reelect Denis O’Brien as a Director	For	Did Not Vote	Management
3e	Reelect John O’Donovan as a Director	For	Did Not Vote	Management
4	Authorize Board to Fix Remuneration of the Auditors	For	Did Not Vote	Management
5	Authorize Repurchase 98,493,220 Ordinary Shares; 1,876,090 Sterling Preference Shares; and 3,026,598 Euro Preference Shares	For	Did Not Vote	Management
6	Authorize Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Authorize Board to Allot Up to EUR 31.84 million in Equity Securities for Cash without Preemptive Rights	For	Did Not Vote	Management
8	Authorize Board to Allot Equity Securities Representing 15 Percent of the Issued Share Capital, without Preemptive Rights, For Purposes Other Than Cash	For	Did Not Vote	Management

BANK OF THE PHILIPPINE ISLANDS

Ticker:		Security ID:  PHY0967S1694
Meeting Date:  MAR 25, 2004		Meeting Type:  Annual
Record Date:  FEB 24, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Call to Order	For	For	Management
2	Certification of Notice	For	For	Management
3	Roll Call of Stockholders	For	For	Management
4	Determination and Declaration of Quorum	For	For	Management
5	Approve Minutes of the Annual Shareholder Meeting on Apr. 3, 2003	For	For	Management
6	Reading of Annual Report and Approval of the Bank’s Statement of Condition as of Dec. 31, 2003 Incorporated in the Annual Report	For	For	Management
7	Approve and Confirm All Acts During the Past Year of the Board of Directors, Executive Committee, and All Other Board and Management Committes and Officers of BPI	For	For	Management
8	Declare Stock Dividend	For	For	Management
9	Elect 15 Members of the Board of Directors	For	For	Management
10	Appoint Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
11	Approve Bonuses of Directors	For	For	Management
12	Other Business	For	Against	Management

BANK OF YOKOHAMA LTD.

Ticker:		Security ID:  JP3955400001
Meeting Date:  JUN 25, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 5, Special JY 0	For	For	Management
2	Authorize Repurchase of Preferred Shares	For	For	Management
3	Amend Articles to: Authorize Share Repurchases at Board’s Discretion - Create Position of Vice-Chairman	For	For	Management
4.1	Elect Director	For	For	Management
4.2	Elect Director	For	For	Management
4.3	Elect Director	For	For	Management
4.4	Elect Director	For	For	Management
4.5	Elect Director	For	For	Management
4.6	Elect Director	For	For	Management
4.7	Elect Director	For	For	Management
4.8	Elect Director	For	For	Management
5	Appoint Internal Statutory Auditor	For	Against	Management
6	Approve Retirement Bonuses for Directors and Statutory Auditor	For	Against	Management
7	Approve Executive Stock Option Plan	For	For	Management

19

BANK POLSKA KASA OPIEKI SA (PEKAO)

Ticker:		Security ID:  PLPEKAO00016
Meeting Date:  JULY 25, 2003		Meeting Type:  Special
Record Date:  JULY 18, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Elect Members of Election Committee	For	Did Not Vote	Management
5	Accept Meeting Agenda	For	Did Not Vote	Management
6	Approve Management Incentive Program	For	Did Not Vote	Management
7	Approve Issuance of Bonds with Warrants Attached without Preemptive Rights, Convertible into Shares Series F and G	For	Did Not Vote	Management
8	Approve Conditional Increase in Share Capital by PLN 1,660,000 and Disapply Preemptive Rights Pursuant to Issuance of Bonds with Warrants Attached	For	Did Not Vote	Management
9	Approve Resolution on Introduction to Public Trading of Shares Series F and G	For	Did Not Vote	Management
10	Amend Articles of Association and Authorize Supervisory Board to Adopt Unified Text of Statute	For	Did Not Vote	Management
11	Other Business	For	Did Not Vote	Management
12	Close Meeting	For	Did Not Vote	Management

BANK POLSKA KASA OPIEKI SA (PEKAO)

Ticker:		Security ID:  PLPEKAO00016
Meeting Date:  NOV 4, 2003		Meeting Type:  Special
Record Date:  OCT 28, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Elect Members of Election Committee	For	Did Not Vote	Management
5	Approve Agenda of Meeting	For	Did Not Vote	Management
6	Amend Statutes	For	Did Not Vote	Management
7	Amend Statutes	For	Did Not Vote	Management
8	Elect Supervisory Board	For	Did Not Vote	Management
9	Other Business	For	Did Not Vote	Management
10	Close Meeting	None	Did Not Vote	Management

20

BANK POLSKA KASA OPIEKI SA (PEKAO)

Ticker:		Security ID:  PLPEKAO00016
Meeting Date:  APR 7, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Elect Members of Election Committee	For	Did Not Vote	Management
5	Approve Agenda of Meeting	For	Did Not Vote	Management
6	Receive Management Board 2003 Activity Report (Non-Voting)	None	Did Not Vote	Management
7	Receive Financial Statements (Non-Voting)	None	Did Not Vote	Management
8	Receive Management Board Report on Activity of Bank’s Capital Group (Non-Voting)	None	Did Not Vote	Management
9	Receive Consolidated Financial Statements (Non-Voting)	None	Did Not Vote	Management
10	Receive Management Board’s Proposal for Allocation of Profit for 2003 (Non-Voting)	None	Did Not Vote	Management
11	Receive Supervisory Board Reports (Non-Voting)	None	Did Not Vote	Management
12.1	Approve Management Board 2003 Activity Report	For	Did Not Vote	Management
12.2	Approve Financial Statements	For	Did Not Vote	Management
12.3	Approve Management Board Report on Activity of Bank’s Capital Group	For	Did Not Vote	Management
12.4	Approve Consolidated Financial Statements	For	Did Not Vote	Management
12.5	Approve Allocation of Income for 2003	For	Did Not Vote	Management
12.6	Approve Supervisory Board Reports	For	Did Not Vote	Management
12.7	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
12.8	Approve Discharge of Management Board	For	Did Not Vote	Management
13	Receive Proposal for Issuance of H-Series Shares without Preemptive Rights Pursuant to Executive Share Option Plan and Amend Articles of Association to Reflect Increase in Share Capital	For	Did Not Vote	Management
14	Approve Introducing H-Series Shares into Public Trade	For	Did Not Vote	Management
15	Authorize Supervisory Board to Approve Unified Text of Statute Following Changes to Articles to Increase Share Capital by Issuance of H-Series Shares	For	Did Not Vote	Management
16	Amend Articles of Association Re: Bank’s Name and Other General Matters	For	Did Not Vote	Management
17	Approve Unified Text of Statute	For	Did Not Vote	Management
18	Approve Rules for Shareholder Meetings	For	Did Not Vote	Management
19	Other Business	For	Did Not Vote	Management
20	Close Meeting	For	Did Not Vote	Management

BANK POLSKA KASA OPIEKI SA (PEKAO)

Ticker:		Security ID:  PLPEKAO00016
Meeting Date:  JUN 1, 2004		Meeting Type:  Special
Record Date:  MAY 25, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Elect Members of Election Committee	For	Did Not Vote	Management
5	Approve Agenda of Meeting	For	Did Not Vote	Management
6	Elect Supervisory Board	For	Did Not Vote	Management
7	Transact Other Business (Voting)	For	Did Not Vote	Management
8	Close Meeting	None	Did Not Vote	Management

21

BANK PRZEMYSLOWO HANDLOWY SA

Ticker:		Security ID:  PLBPH0000019
Meeting Date:  JUN 4, 2004		Meeting Type:  Annual
Record Date:  MAY 28, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
3	Elect Meeting Chairman	For	Did Not Vote	Management
4	Accept Meeting Agenda	For	Did Not Vote	Management
5	Receive Financial Statements	None	Did Not Vote	Management
6	Receive Board Report	None	Did Not Vote	Management
7	Receive Consolidated Financial Statements	None	Did Not Vote	Management
8	Receive Consolidated Board Report	None	Did Not Vote	Management
9	Receive Supervisory Board Report	None	Did Not Vote	Management
10	Approve Financial Statement	For	Did Not Vote	Management
11	Approve Board Report	For	Did Not Vote	Management
12	Approve Consolidated Financial Statement	For	Did Not Vote	Management
13	Approve Consolidated Board Report	For	Did Not Vote	Management
14	Approve Supervisory Board Report	For	Did Not Vote	Management
15	Approve Allocation of Income and Dividends	For	Did Not Vote	Management
16	Approve Discharge of Management Board	For	Did Not Vote	Management
17	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
18	Amend Articles of Association and Approve Unified Text of Statute	For	Did Not Vote	Management
19	Amend Rules (Bylaws) on Supervisory Board	For	Did Not Vote	Management
20	Elect Supervisory Board Members	For	Did Not Vote	Management
21	Close Meeting	None	Did Not Vote	Management

22

BANK ZACHODNI WROCLAW

Ticker:		Security ID:  PLBZ00000044
Meeting Date:  APR 20, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Approve Agenda of Meeting	For	Did Not Vote	Management
5	Receive and Approve Management Board Report on Bank’s Activity and Financial Statements	For	Did Not Vote	Management
6	Receive and Approve Management Board Report on Activity of Bank’s Capital Group and Consolidated Financial Statements	For	Did Not Vote	Management
7	Approve Allocation of Income and Payment of Dividend of PLN 0.32	For	Did Not Vote	Management
8	Approve Discharge of Management Board	For	Did Not Vote	Management
9	Receive and Approve Supervisory Board Report	For	Did Not Vote	Management
10	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
11	Elect Supervisory Board Members	For	Did Not Vote	Management
12	Approve Resolution on Management Report Concerning Resolution No. 1 of EGM Held on June 12, 2000	For	Did Not Vote	Management
13	Close Meeting	For	Did Not Vote	Management

23

BAYERISCHE HYPO- UND VEREINSBANK AG

Ticker:		Security ID:  DE0008022005
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Discharge of Management Board	For	Did Not Vote	Management
3	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
4A	Reelect Manfred Bischoff to the Supervisory Board	For	Did Not Vote	Management
4B	Reelect Volker Doppelfeld to the Supervisory Board	For	Did Not Vote	Management
4C	Reelect Max Kley to the Supervisory Board	For	Did Not Vote	Management
4D	Reelect Lothar Meyer to the Supervisory Board	For	Did Not Vote	Management
4E	Reelect Hans-Juergen Schinzler to the Supervisory Board	For	Did Not Vote	Management
4F	Reelect Albrecht Schmidt to the Supervisory Board	For	Did Not Vote	Management
4G	Reelect Siegfried Sellitsch to the Supervisory Board	For	Did Not Vote	Management
4H	Reelect Wilhelm Simson to the Supervisory Board	For	Did Not Vote	Management
4I	Reelect Hans-Werner Sinn to the Supervisory Board	For	Did Not Vote	Management
4J	Elect Mathias Doepfner to the Supervisory Board	For	Did Not Vote	Management
4K	Elect Diether Muenich to the Supervisory Board	For	Did Not Vote	Management
5	Approve Creation of EUR 990 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
6	Authorize Issuance of Participation Certificates Up to Aggregate Nominal Value of EUR 1 Billion	For	Did Not Vote	Management
7	Authorize Repurchase of up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
8	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
9	Amend Articles	For	Did Not Vote	Management
10	Approve Affiliation Agreements with Subsidiaries (HVB Principal Equity GmbH, and HVB Profil Gesellschaft fuer Personal management mbH)	For	Did Not Vote	Management
11	Approve Affiliation Agreements with Subsidiaries (HVB-Offene Unternehmensbeteiligungs-AG, and INDEXCHANGE Investment AG)	For	Did Not Vote	Management
12	Ratify KPMG Deutsche Treuhand Gesellschaft AG as Auditors	For	Did Not Vote	Management

BENI STABILI

Ticker:		Security ID:  IT0001389631
Meeting Date:  APR 26, 2004		Meeting Type:  Annual
Record Date:  APR 21, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Statutory Reports, Allocation of Income, and Dividend Distribution	For	Did Not Vote	Management
2	Elect Members of the Board of Directors	For	Did Not Vote	Management
3	Approve Directors, Auditors, and Managers Indemnification/Liability Provisions	For	Did Not Vote	Management
1	Adopt New Articles of Association To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management

24

BHP BILLITON LIMITED (FORMERLY BHP LTD.)

Ticker:  BHP		Security ID:  AU000000BHP4
Meeting Date:  NOV 13, 2003		Meeting Type:  Annual
Record Date:  NOV 11, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements for BHP Billiton Ltd and Statutory Reports for the Year Ended June 30, 2003	For	For	Management
2	Accept Financial Statements and Statutory Reports for BHP Billiton Plc for the Year Ended June 30, 2003	For	For	Management
3	Elect D C Brink as Director of BHP Billiton Ltd	For	For	Management
4	Elect D C Brink as Director of BHP Billiton Plc	For	For	Management
5	Elect M A Chaney as Director of BHP Billiton Ltd	For	For	Management
6	Elect M A Chaney as Director of BHP Billiton Plc	For	For	Management
7	Elect Lord Renwick of Clifton as Director of BHP Billiton Ltd	For	For	Management
8	Elect Lord Renwick of Clifton as Director of BHP Billitoon Plc as Director	For	For	Management
9	Elect M Salamon as Director of BHP Billiton Ltd	For	For	Management
10	Elect M Salamon as Director of BHP Billiton Plc	For	For	Management
11	Elect J G Buchanan as Director of BHP Billiton Ltd	For	For	Management
12	Elect J G Buchanan as Director of BHP Billiton Plc	For	For	Management
13	Approve KPMG Audit Plc and PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
14	Approve Authority to Allot Shares in BHP Billiton Plc	For	For	Management
15	Approve Renewal of Authority to Allot Equity Securities for Cash	For	For	Management
16	Authorize Share Repurchase Program	For	For	Management
17	Approve Remuneration Report for the Year Ended June 30, 2003	For	For	Management
18	Approve the Grant of Deferred Shares, Options and Performance Shares to Executive Director and Chief Executive Officer, C W Goodyear Under the BHP Billiton Limited Group Incentive Scheme	For	For	Management
19	Approve the Grant of Deferred Shares, Options and Performance Shares to Executive Director and Senior Minerals Executive, M Salamon Under the BHP Billiton Plc Group Incentive Scheme	For	For	Management

25

BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)

Ticker:		Security ID:  FR0000131104
Meeting Date:  MAY 13, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of EUR 2.175 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Authorize Issuance of Bonds/Debentures in the Nominal Value of Up to EUR 30 Billion	For	Did Not Vote	Management
6	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
7	Reelect Louis Schweitzer as Director	For	Did Not Vote	Management
8	Reelect Lindsay Owen-Jones as Director	For	Did Not Vote	Management
9	Confirm Expiration of Term of David Peake as Director	For	Did Not Vote	Management
10	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management
11	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 1 Billion	For	Did Not Vote	Management
12	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 340 Million	For	Did Not Vote	Management
13	Authorize Capitalization of Reserves of Up to EUR 1 Billion for Bonus Issue or Increase in Par Value	For	Did Not Vote	Management
14	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer, Subject to Certain Conditions	For	Did Not Vote	Management
15	Amend Terms of Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan Submitted to Shareholder Vote at May 14, 2003, AGM/EGM	For	Did Not Vote	Management
16	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
17	Amend Articles of Association Re: Role of Chairman, Access to Information, Internal Control Procedures, Convening of Board Meetings, and Signing of the Minutes of Board Meetings	For	Did Not Vote	Management
18	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

26

BP PLC  (FORM. BP AMOCO PLC )

Ticker:  BP.PP		Security ID:  GB0007980591
Meeting Date:  APR 15, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Re-elect The Lord Browne of Madingley as Director	For	For	Management
2	Re-elect Byron Grote as Director	For	For	Management
3	Re-elect Michael Miles as Director	For	For	Management
4	Re-elect Sir Robin Nicholson as Director	For	For	Management
5	Re-elect Dick Olver as Director	For	For	Management
6	Re-elect Sir Ian Prosser as Director	For	For	Management
7	Elect Antony Burgmans as Director	For	For	Management
8	Re-appoint Ernst and Young LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
9	Amend Articles of Association Re: Treasury Shares and Annual Retirement of Directors	For	For	Management
10	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of USD 1,820 Million	For	For	Management
11	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of USD 273 Million	For	For	Management
12	Authorise 2.2 Billion Shares for Market Purchase	For	For	Management
13	Authorise the Company to use Treasury Shares for the Purpose of the Employee Share Schemes Operated by the Company	For	For	Management
14	Approve Remuneration Report	For	For	Management
15	Approve Increase in Remuneration of Non-Executive Directors from GBP 1.5 Million to GBP 2.5 Million	For	For	Management
16	Accept Financial Statements and Statutory Reports	For	For	Management
17	Require the Company to Prepare a Report Re: Mitigating Risks to Shareholder Value when Operating in Protected and Sensitive Areas	Against	Against	Shareholder

BRE BANK SA

Ticker:		Security ID:  PLBRE0000012
Meeting Date:  MAY 24, 2004		Meeting Type:  Special
Record Date:  MAY 14, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Elect Members of Election Committee	For	Did Not Vote	Management
4	Receive Management Board Report	None	Did Not Vote	Management
5	Approve Increase in Share Capital and Amend Statutes Association Accordingly	For	Did Not Vote	Management
6	Close Meeting	None	Did Not Vote	Management

27

BRE BANK SA

Ticker:		Security ID:  PLBRE0000012
Meeting Date:  APR 21, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Receive Management Board’s Report and 2003 Financial Statements	None	Did Not Vote	Management
5	Receive Supervisory Board’s Report	None	Did Not Vote	Management
6	Receive 2003 Financial Statements	None	Did Not Vote	Management
7	Receive 2003 Consolidated Financial Statements	None	Did Not Vote	Management
8.1	Approve Management Board’s Report and Financial Statements	For	Did Not Vote	Management
8.2	Approve Allocation of Income	For	Did Not Vote	Management
8.3	Approve Discharge of Management Board	For	Did Not Vote	Management
8.4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
8.5	Approve Consolidated Financial Statements For		Did Not Vote	Management
8.6	Authorise Issuance of Equity with Preemptive Rights	For	Did Not Vote	Management
8.7	Amend Articles of Association	For	Did Not Vote	Management
8.8	Approve Rules for General Shareholder Meetings	For	Did Not Vote	Management
8.9	Determine Size of Supervisory Board	For	Did Not Vote	Management
8.10	Elect Supervisory Board Members	For	Did Not Vote	Management
8.11	Approve Remuneration of Supervisory Board Members	For	Did Not Vote	Management
9	Close Meeting	For	Did Not Vote	Management

28

BUDIMEX  SA

Ticker:		Security ID:  PLBUDMX00013
Meeting Date:  JUN 3, 2004		Meeting Type:  Annual
Record Date:  MAY 27, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Elect Members of Election Committee	For	Did Not Vote	Management
5	Approve Agenda of Meeting	For	Did Not Vote	Management
6	Elect Supervisory Board	For	Did Not Vote	Management
7	Receive Company Financial Statements and Statutory Reports	None	Did Not Vote	Management
8	Receive Consolidated Financial Statements and Statutory Reports	None	Did Not Vote	Management
9	Receive Supervisory Board Report	None	Did Not Vote	Management
10.1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
10.2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
10.3	Approve Allocation of Income	For	Did Not Vote	Management
10.4	Approve Discharge of Management Board	For	Did Not Vote	Management
10.5	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
11	Elect Supervisory Board	For	Did Not Vote	Management
12	Approve Amendments to Statutes	For	Did Not Vote	Management
13	Approve Resolution on Changes to the General Rules of Meetings	For	Did Not Vote	Management
14	Approve Liability and Indemnification for Management Board	For	Did Not Vote	Management
15	Close Meeting	None	Did Not Vote	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

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

29

CADBURY SCHWEPPES PLC

Ticker:  CSG		Security ID:  GB0006107006
Meeting Date:  MAY 21, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Final Dividend of 8.35 Pence Per Ordinary Share	For	For	Management
3	Approve Remuneration Report	For	For	Management
4	Re-elect John Sunderland as Director	For	For	Management
5	Elect Ken Hanna as Director	For	For	Management
6	Re-elect Rick Braddock as Director	For	For	Management
7	Re-elect Roger Carr as Director	For	For	Management
8	Re-elect David Thompson as Director	For	For	Management
9	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For	Management
10	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
11	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 85.27 Million	For	For	Management
12	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 12.92 Million	For	For	Management
13	Authorise 25.84 Million Ordinary Shares for Market Purchase	For	For	Management
14	Amend Cadbury Schweppes Share Option Plan 1994	For	For	Management
15	Amend Cadbury Schweppes plc 1997 Long-Term Incentive Plan	For	For	Management
16	Approve Cadbury Schweppes Bonus Share Retention Plan 2004	For	For	Management
17	Amend Overseas Employee Share Schemes	For	For	Management
18	Authorise the Board to Establish Further Employees Share Plan or Plans	For	For	Management

CANADIAN NATURAL RESOURCES LTD.

Ticker:  CNQ.		Security ID:  CA1363851017
Meeting Date:  MAY 6, 2004		Meeting Type:  Annual/Special
Record Date:  MAR 25, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Catherine Best, N. Murray Edwards, Ambassador Gordon D. Giffin, James T. Grenon, John G. Langille, Keith A.J. MacPhail, Allan Markin, James Palmer, Eldon Smith and David Tuer as Directors	For	For	Management
2	Appoint PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Remuneration of Auditors	For	For	Management
3	Amend Stock Option Plan	For	Against	Management
4	Approve 2:1 Stock Split	For	For	Management

30

CANON INC.

Ticker:  CAJ		Security ID:  JP3242800005
Meeting Date:  MAR 30, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 15, Final JY 35, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
3.18	Elect Director	For	For	Management
3.19	Elect Director	For	For	Management
3.20	Elect Director	For	For	Management
3.21	Elect Director	For	For	Management
3.22	Elect Director	For	For	Management
3.23	Elect Director	For	For	Management
3.24	Elect Director	For	For	Management
3.25	Elect Director	For	For	Management
3.26	Elect Director	For	For	Management
3.27	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
4.3	Appoint Internal Statutory Auditor	For	Against	Management
5	Appoint Additional External Auditor	For	For	Management
6	Approve Retirement Bonuses for Directors and Statutory Auditors	For	For	Management
7	Approve Adjustment to Aggregate Compensation Ceiling for Directors and Statutory Auditors	For	For	Management

31

CAPITALIA SPA (FORMERLY BANCA DI ROMA )

Ticker:		Security ID:  IT0003121495
Meeting Date:  DEC 2, 2003		Meeting Type:  Special
Record Date:  NOV 27, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Fix Number of Directors on the Board; Elect Directors; Determine Directors’ Remuneration According to Artcile 19 of the Bylaws	For	Did Not Vote	Management
1	Approve Accounting Transfers to Cover Fiscal Year 2002’s Losses	For	Did Not Vote	Management

CAPITALIA SPA (FORMERLY BANCA DI ROMA )

Ticker:		Security ID:  IT0003121495
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:  APR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
3	Appoint Internal Statutory Auditors and Chairman; Approve Remuneration of Auditors	For	Did Not Vote	Management
4	Amend Articles To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management

CASSA DI RISPARMIO DI FIRENZE

Ticker:		Security ID:  IT0001000725
Meeting Date:  APR 26, 2004		Meeting Type:  Annual/Special
Record Date:  APR 21, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Issuance of 44.66 Million Shares for a Private Placement in Favor of Fondazione Cassa di Risparmio della Spezia	For	Did Not Vote	Management
2	Amend Articles To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management
1	Accept Financial Statements, Consolidated Accounts, and Statutory Reports	For	Did Not Vote	Management
2	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
3	Appoint Internal Statutory Auditors	For	Did Not Vote	Management
4	Approve Remuneration of Internal Statutory Auditors	For	Did Not Vote	Management
5	Elect Directors To Substitute Former Members of the Board; Decisions Inherent to Board Members’ Authorization To Assume Positions In Competing Companies	For	Did Not Vote	Management
6	Approve Directors Indemnification/Liability Provisions	For	Did Not Vote	Management

32

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	For	Management
2	Approve Allocation of Income	For	For	Management
3	Approve Payment of Dividends and Interest on Capital of BRL 320.5 Million	For	For	Management
4	Elect Supervisory Board Members and Alternates; Fix Their Remuneration	For	For	Management
5	Approve Remuneration of Directors	For	For	Management
6	Grant Executive Officer Board Authorization to Exercise Duties Regulated Under Article 17 of Bylaws, Pending Decision of ANEEL	For	For	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	Against	Shareholder

CESKY TELECOM AS (SPT TELECOM A.S.)

Ticker:		Security ID:  CZ0009093209
Meeting Date:  JUN 24, 2004		Meeting Type:  Annual
Record Date:  JUN 22, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Chairman and Other Meeting Officials; Approve Procedural Rules	For	Did Not Vote	Management
3	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
4	Receive Supervisory Board Report	None	Did Not Vote	Management
5	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
6	Approve Allocation of Income and Covering of Losses	For	Did Not Vote	Management
7	Amend Articles	For	Did Not Vote	Management
8	Approve Resignation of Supervisory Board Except for Members Elected by Company Employees	For	Did Not Vote	Management
9	Elect Supervisory Board	For	Did Not Vote	Management
10	Amend Articles Re: Remuneration of Board of Directors	For	Did Not Vote	Management
11	Amend Articles Re: Remuneration of Supervisory Board	For	Did Not Vote	Management
12	Approve Remuneration of Board of Directors and Supervisory Board	For	Did Not Vote	Management
13	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
14	Close Meeting	None	Did Not Vote	Management

33

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

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

COCA-COLA HELLENIC BOTTLING CO.

Ticker:		Security ID:  GRS104111000
Meeting Date:  JUN 11, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Board and Auditors’ Statutory Reports	For	Did Not Vote	Management
2	Accept Individual and Group Financial Statements	For	Did Not Vote	Management
3	Approve Discharge of Directors and Auditors	For	Did Not Vote	Management
4	Approve Remuneration of Directors for 2003 and 2004	For	Did Not Vote	Management
5	Approve Auditors and Authorize Board to Fix Their Remuneration	For	Did Not Vote	Management
6	Approve Allocation of Income and Dividends	For	Did Not Vote	Management
7	Elect Directors	For	Did Not Vote	Management
8	Amend Article 7 Re: Board Elections	For	Did Not Vote	Management

34

COMMERZBANK AG

Ticker:  CRZBY		Security ID:  DE0008032004
Meeting Date:  MAY 12, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Discharge of Management Board	For	Did Not Vote	Management
3	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
4	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management
5	Authorize Repurchase of up to Ten Percent of Issued Share Capital for Trading Purposes	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Approve Creation of EUR 225 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
8	Approve Creation of EUR 225 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
9	Approve Creation of EUR 150 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
10	Approve Affiliation Agreements with Subsidiaries	For	Did Not Vote	Management

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	For	Management
2	Approve Allocation of Income	For	For	Management
3	Approve Annual Aggregate Remuneration of Directors	For	For	Management
4	Elect Supervisory Board Members and Fix Their Remuneration	For	For	Management
5	Authorize Increase in Capital Via Capitalization of Reserves	For	For	Management

35

CONTINENTAL  AG

Ticker:  CTTAY		Security ID:  DE0005439004
Meeting Date:  MAY 14, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 0.52 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify KPMG Deutsche Treuhand-Gesellschaft AG as Auditors	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Elect Manfred Bodin, Diethart Breipohl, Michael Frenzel, Hubertus von Gruenberg, Hans-Olaf Henkel, Jan Oosterveld, Fred Steingraber, Juergen Stockmar, Bernd Voss, Ulrich Weiss to the Supervisory Board	For	Did Not Vote	Management
8	Approve Stock Option Plan for Key Employees	For	Did Not Vote	Management

CREDIT SAISON CO. LTD.

Ticker:		Security ID:  JP3271400008
Meeting Date:   JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY 18, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
4	Approve Retirement Bonuses for Directors	For	For	Management

CREDIT SUISSE GROUP (FORMERLY CS HOLDING)

Ticker:  CSR		Security ID:  CH0012138530
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 Discharge of Board and Senior Management	For	Did Not Vote	Management
3.1	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
3.2	Approve CHF 597.5 Million Reduction in Share Capital via Reduction in Par Value and Repayment to Shareholders	For	Did Not Vote	Management
4.1	Reelect Thomas Bell and Aziz Syriani as Directors; Elect Peter Weibel, Noreen Doyle, and David Syz as Directors	For	Did Not Vote	Management
4.2	Reelect KPMG Klynveld Peat Marwick Goerdeler SA as Auditors	For	Did Not Vote	Management
4.3	Reelect BDO Sofirom as Special Auditors	For	Did Not Vote	Management
5.1	Amend Articles Re: Submission of Shareholder Proposals	For	Did Not Vote	Management
5.2	Amend Articles Re: Delete Provisions Concerning Contributions In Kind	For	Did Not Vote	Management

36

CREDITO EMILIANO S.P.A. (CREDEM)

Ticker:		Security ID:  IT0003121677
Meeting Date:  APR 29, 2004		Meeting Type:  Annual/Special
Record Date:  APR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Fix Number of Directors on the Board; Elect Directors	For	Did Not Vote	Management
3	Approve Remuneration of Directors For Fiscal Year 2004	For	Did Not Vote	Management
4	Appoint Internal Statutory Auditors For The Three-Year Term 2004-2006; Elect Chairman of the Board of Internal Statutory Auditors; Approve Remuneration of Auditors	For	Did Not Vote	Management
5	Approve Decisions Inherent to Legal Action Against Officers and/or Directors of Acquired Bank	For	Did Not Vote	Management
1	Approve Issuance of Shares Pursuant to Share Option Scheme	For	Did Not Vote	Management

CSL LTD

Ticker:		Security ID:  AU000000CSL8
Meeting Date:  OCT 16, 2003		Meeting Type:  Annual
Record Date:  OCT 14, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports for the Year Ended June 30, 2003	None	None	Management
2a	Elect Peter H Wade as Director	For	For	Management
2b	Elect Arthur C Webster as Director	For	For	Management
3	Renew Partial Takeover Provision	For	For	Management
4	Approval of Dividend Reinvestment Plan	For	For	Management
5	Approval of Performance Rights Plan	For	For	Management
6	Approval of the Issuance of Performance Rights to Executive Directors	For	For	Management

37

DAIHATSU MOTOR CO. LTD.

Ticker:		Security ID:  JP3496600002
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 3, Final JY 4, Special JY 0	For	For	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	For	Management
2.5	Elect Director	For	For	Management
2.6	Elect Director	For	For	Management
2.7	Elect Director	For	For	Management
2.8	Elect Director	For	For	Management
2.9	Elect Director	For	For	Management
2.10	Elect Director	For	For	Management
2.11	Elect Director	For	For	Management
2.12	Elect Director	For	For	Management
2.13	Elect Director	For	For	Management
2.14	Elect Director	For	For	Management
2.15	Elect Director	For	For	Management
2.16	Elect Director	For	For	Management
2.17	Elect Director	For	For	Management
2.18	Elect Director	For	For	Management
2.19	Elect Director	For	For	Management
2.20	Elect Director	For	For	Management
2.21	Elect Director	For	For	Management
2.22	Elect Director	For	For	Management
2.23	Elect Director	For	For	Management
2.24	Elect Director	For	For	Management
2.25	Elect Director	For	For	Management
2.26	Elect Director	For	For	Management
3	Approve Special Bonus for Family of Deceased Director and Retirement Bonuses for Directors	For	For	Management

38

DAIWA SECURITIES GROUP CO. LTD.

Ticker:		Security ID:  JP3502200003
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 0, Final JY 10, Special JY 0	For	For	Management
2	Amend Articles to: Adopt U.S.-Style Board Structure - Reduce Maximum Board Size - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
4	Approve Retirement Bonuses for Director and Statutory Auditors, and Special Payments to Continuing Directors in Connection with Abolition of Retirement Bonus System	For	Against	Management
5	Approve Executive Stock Option Plan	For	For	Management

DENSO CORP.

Ticker:		Security ID:  JP3551500006
Meeting Date:  JUN 24, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 11, Final JY 13, Special JY 0	For	For	Management
2	Authorize Share Repurchase Program	For	For	Management
3	Amend Articles to: Expand Business Lines - Reduce Board Size - Reduce Directors Term in Office - Authorize Share Repurchases at Board’s Discretion	For	For	Management
4.1	Elect Director	For	For	Management
4.2	Elect Director	For	For	Management
4.3	Elect Director	For	For	Management
4.4	Elect Director	For	For	Management
4.5	Elect Director	For	For	Management
4.6	Elect Director	For	For	Management
4.7	Elect Director	For	For	Management
4.8	Elect Director	For	For	Management
4.9	Elect Director	For	For	Management
4.10	Elect Director	For	For	Management
4.11	Elect Director	For	For	Management
4.12	Elect Director	For	For	Management
4.13	Elect Director	For	For	Management
5	Approve Executive Stock Option Plan	For	For	Management
6	Amend Stock Option Plans Approved at Last Four AGMs	For	For	Management
7	Approve Retirement Bonuses for Directors	For	For	Management

39

DEPFA BANK PLC

Ticker:		Security ID:  IE0072559994
Meeting Date:  APR 26, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Declare Final Dividend	For	For	Management
3a	Reelect Reinhare Grzesik as Director	For	For	Management
3b	Reelect Thomas Kolbeck as Director	For	For	Management
3c	Reelect Jacques Poos as Director	For	For	Management
3d	Reelect Hans Reich as Director	For	For	Management
3e	Reelect Jurgen Karcher as Director	For	For	Management
4	Authorize Board to Fix Remuneration of Auditors	For	For	Management
5	Approve Sub-division of Ordinary Share Capital	For	For	Management
6	Approve Increase in Authorized Capital and Authorize New Class of Preferred Stock	For	For	Management

DEUTSCHE BANK

Ticker:  DTBKY		Security ID:  DE0005140008
Meeting Date:  JUN 2, 2004		Meeting Type:  Annual
Record Date:  MAY 27, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.50 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify KPMG Deutsche Treuhand-Gesellschaft AG as Auditors	For	Did Not Vote	Management
6	Authorize Repurchase of up to Ten Percent of Issued Share Capital for Trading Purposes	For	Did Not Vote	Management
7	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
8	Approve Creation of EUR 150 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
9	Approve Creation of EUR 48 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
10	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 6 Billion with Preemptive Rights; Approve Creation of EUR 150 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management

40

DEUTSCHE POST AG

Ticker:		Security ID:  DE0005552004
Meeting Date:  MAY 6, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 0.44 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 1 Billion with Preemptive Rights; Approve Creation of EUR 56 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
8	Amend Articles Re: Board Renumeration due to Changes in German Disclosure Regulations	For	Did Not Vote	Management

DEUTSCHE TELEKOM

Ticker:  DT		Security ID:  DE0005557508
Meeting Date:  MAY 18, 2004		Meeting Type:  Annual
Record Date:  MAY 11, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify PwC Deutsche Revision AG and Ernst & Young AG as Auditors	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Amend 2001 Stock Option Plan	For	Did Not Vote	Management
8	Approve Creation of EUR 2.5 Billion Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
9	Approve Affiliation Agreements with Subsidiary (T-Punkt Vertriebsgesellschaft mbH)	For	Did Not Vote	Management
10	Approve Affiliation Agreements with Subsidiary (Traviata Telekommunikationsdienste GmbH)	For	Did Not Vote	Management
11	Approve Affiliation Agreements with Subsidiary (Norma Telekommunikationsdienste GmbH)	For	Did Not Vote	Management
12	Approve Affiliation Agreements with Subsidiary (Carmen Telekommunikationsdienste GmbH)	For	Did Not Vote	Management
13	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members and Amendment to the Articles	For	Did Not Vote	Management
14	Amend Articles Re: Location of Shareholder Meetings	For	Did Not Vote	Management

41

DIAGEO PLC (FORMERLY GUINNESS PLC)

Ticker:  DEO		Security ID:  GB0002374006
Meeting Date:  OCT 22, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 15.7 Pence Per Share	For	For	Management
4	Reelect Lord Blyth as Director	For	For	Management
5	Reelect Keith Oates as Director	For	For	Management
6	Reelect Paul Walsh as Director	For	For	Management
7	Approve KPMG Audit Plc as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
8	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 44,833,003	For	For	Management
9	Authorize 309,885,718 Shares for Share Repurchase Program	For	For	Management

DRAGON OIL PLC

Ticker:		Security ID:  IE0000590798
Meeting Date:  MAY 4, 2004		Meeting Type:  Annual
Record Date:  APR 4, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2a	Reelect Essa Almulla as Director	For	For	Management
2b	Reelect Nigel McCue as Director	For	For	Management
3	Authorize Board to Fix Remuneration of Auditors	For	For	Management
4	Authorize General Meetings at a Place as Determined by the Directors	For	For	Management
5	Authorize Board to Allot Equity Securities with Preemptive Rights up to Aggregate Nominal Amount of 45 Percent of Issued Share Capital	For	For	Management
6	Authorize Repurchase of Up to 10 Percent of Issued Share Capital	For	For	Management
7	Amend Articles To Remove Obselete References	For	For	Management

42

E.ON AG (FORMERLY VEBA AG)

Ticker:  VEBA		Security ID:  DE0007614406
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 2.00 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Amend Articles Re: Allow for the Issuance of Dividends in Kind	For	Did Not Vote	Management
6	Approve Affiliation Agreements with Subsidiaries (E.ON Nordic Holding GmbH)	For	Did Not Vote	Management
7	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
8	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management

EGIS RT GYOGYSZERGYARSZOLGALTATASI RESZVENYTARSASAG

Ticker:		Security ID:  HU0000053947
Meeting Date:  JAN 30, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Directors’ Report on 2002/2003 Business Activity	For	Did Not Vote	Management
2	Approve 2002/2003 Allocation of Profit	For	Did Not Vote	Management
3	Approve Supervisory Board Report	For	Did Not Vote	Management
4	Approve Auditors’ Report	For	Did Not Vote	Management
5	Approve 2002/2003 Balance Sheet	For	Did Not Vote	Management
6	Elect Supervisory Board Members	For	Did Not Vote	Management
7	Elect Auditors	For	Did Not Vote	Management
8	Approve Remuneration of Directors	For	Did Not Vote	Management
9	Approve Directors’ Report on 2002/2003 Consolidated Activity	For	Did Not Vote	Management
10	Approve Supervisory Board Report on 2002/2003 Consolidated Activity	For	Did Not Vote	Management
11	Approve Auditors’ Report on 2002/2003 Consolidated Activity	For	Did Not Vote	Management
12	Approve 2002/2003 Consolidated Balance Sheet	For	Did Not Vote	Management
13	Amend Articles of Association	For	Did Not Vote	Management

43

ELAN CORPORATION PLC

Ticker:  ELN		Security ID:  284131208
Meeting Date:  OCT 21, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive and Consider Financial Statements and Statutory Reports	For	For	Management
2	Reelect Garo Armen as a Director	For	For	Management
3	Reelect Laurence Crowley as a Director	For	For	Management
4	Reelect Ann Maynard Gray as a Director	For	For	Management
5	Reelect Kevin McIntyre as a Director	For	For	Management
6	Elect William Daniel as a Director	For	For	Management
7	Elect G. Kelly Martin as a Director	For	For	Management
8	Authorize Board to Fix Remuneration of the Auditors	For	For	Management
9	Authorize Repurchase of Up to 15 Percent of Issued Share Capital	For	For	Management
10	Authorize Reissuance of Repurchased Shares	For	For	Management

ELETROBRAS, CENTRAIS ELETRICAS BRASILEIRAS S.A.

Ticker:		Security ID:  BRELETACNOR6
Meeting Date:  MAY 12, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Management Board Member	For	For	Management

ELETROBRAS, CENTRAIS ELETRICAS BRASILEIRAS S.A.

Ticker:		Security ID:  BRELETACNOR6
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	Approve Allocation of Income and Dividends	For	For	Management
3	Elect Supervisory Board Members and Alternates	For	For	Management
4	Approve Remuneration of Directors, Executive Directors, and Supervisory Board Members	For	For	Management

ELETROBRAS, CENTRAIS ELETRICAS BRASILEIRAS S.A.

Ticker:		Security ID:  BRELETACNOR6
Meeting Date:  MAR 2, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect One Member to Management Board	For	For	Management

44

ENCANA CORP[FORMERLY PANCANADIAN ENERGY CORP

Ticker:  ECA.		Security ID:  CA2925051047
Meeting Date:  APR 28, 2004		Meeting Type:  Annual/Special
Record Date:  MAR 8, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Elect  Director Michael N. Chernoff	For	For	Management
1.2	Elect  Director Ralph S. Cunningham	For	For	Management
1.3	Elect  Director Patrick D. Daniel	For	For	Management
1.4	Elect  Director Ian W. Delaney	For	For	Management
1.5	Elect  Director William R. Fatt	For	For	Management
1.6	Elect  Director Michael A. Grandin	For	For	Management
1.7	Elect  Director Barry W. Harrison	For	For	Management
1.8	Elect  Director Richard F. Haskayne	For	For	Management
1.9	Elect  Director Dale A. Lucas	For	For	Management
1.10	Elect  Director Ken F. McCready	For	For	Management
1.11	Elect  Director Gwyn Morgan	For	For	Management
1.12	Elect  Director Valerie A.A. Nielsen	For	For	Management
1.13	Elect  Director David P. O’Brien	For	For	Management
1.14	Elect  Director Jane L. Peverett	For	For	Management
1.15	Elect  Director Dennis A. Sharp	For	For	Management
1.16	Elect  Director James M. Stanford	For	For	Management
2	Approve Auditors and Authorize Board to Fix Remuneration of Auditors	For	For	Management
3	Adopt New By-Law No. 1	For	For	Management
4	Amend Shareholder Rights Plan (Poison Pill)	For	For	Management

ENDESA S.A.

Ticker:		Security ID:  ES0130670112
Meeting Date:  APR 1, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Discharge Directors	For	For	Management
2	Approve Allocation of Income and Dividends	For	For	Management
3	Amend Articles 16 and 33 Re: Issue of Debt and Right to Information, and Include New Article Re: Remote Voting	For	For	Management
4	Amend General Meeting Guidelines via Amendment to Articles 9 (Right to Information), 12 (Public Request for Representation) and 18 (Interventions), and New Article Re: Remote Voting	For	For	Management
5	Elect Management Board	For	For	Management
6	Approve Auditors	For	For	Management
7	Authorize Share Repurchase	For	For	Management
8	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management
9	Information Re: Board Guidelines	For	For	Management

45

ENEL SPA

Ticker:		Security ID:  IT0003128367
Meeting Date:  MAY 21, 2004		Meeting Type:  Annual/Special
Record Date:  MAY 14, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements, Consolidated Accounts, and Statutory Reports	For	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
1	Amend Articles To Reflect New Italian Company Law Regulations and New Regulations Re: Italian State’s ‘Special Powers’	For	Did Not Vote	Management
2	Approve Increase in Share Capital in the Order of EUR 38.53 Million Pursuant to Share Option Scheme in Favor of Managers	For	Did Not Vote	Management
3a	Appoint Internal Statutory Auditors - Majority Shareholder Slate (Ministry of Economy and Finance)	None	Did Not Vote	Management
3b	Appoint Internal Statutory Auditors - Minority Shareholder Slate (Institutional Investors)	None	Did Not Vote	Management
4	Approve Remuneration of Primary Internal Statutory Auditors	For	Did Not Vote	Management

ENI SPA

Ticker:  E		Security ID:  IT0003132476
Meeting Date:  MAY 25, 2004		Meeting Type:  Annual/Special
Record Date:  MAY 20, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements, Consolidated Accounts, and Statutory Reports	For	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Authorize Share Repurchase Program	For	Did Not Vote	Management
4	Elect External Auditors for the Three-Year Term 2004-2006 and Fix Remuneration of Auditors	For	Did Not Vote	Management
5	Amend Article 2 of the Set of Rules Governing General Meetings of Eni Spa	For	Did Not Vote	Management
6	Approve Remuneration of Directors	For	Did Not Vote	Management
1	Amend Articles To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management
2	Amend Articles 17, 19, and 28 of the Company’s Bylaws	For	Did Not Vote	Management

46

ENKA INSAAT VE SANAYI A.S

Ticker:		Security ID:  TREENKA00011
Meeting Date:  DEC 1, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Approve Increase in Authorized Capital from TRL 50 Trillion to TRL 200 Trillion	For	Did Not Vote	Management
4	Wishes	None	Did Not Vote	Management

ENKA INSAAT VE SANAYI A.S

Ticker:		Security ID:  TREENKA00011
Meeting Date:  APR 30, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Accept Independent External Auditor’s Report	For	Did Not Vote	Management
5	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
6	Amend Articles of Association Re: Capital Markets Board Regulations Regarding Allocation of Income	For	Did Not Vote	Management
7	Approve Allocation of Income	For	Did Not Vote	Management
8	Approve Donations Made in Financial Year 2003	For	Did Not Vote	Management
9	Elect Directors and Internal Auditors; Determine Their Remuneration	For	Did Not Vote	Management
10	Ratify Independent External Auditors	For	Did Not Vote	Management
11	Authorize Issuance of Bonds and/or Commercial Papers	For	Did Not Vote	Management
12	Grant Permission for Board Members to Engage in Commercial Transaction with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
13	Wishes	None	Did Not Vote	Management

47

ERICSSON (TELEFONAKTIEBOLAGET L M ERICSSON)

Ticker:  ERIAF		Security ID:  SE0000108656
Meeting Date:  APR 6, 2004		Meeting Type:  Annual
Record Date:  MAR 26, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Chairman of Meeting	For	For	Management
2	Prepare and Approve List of Shareholders	For	For	Management
3	Approve Agenda of Meeting	For	For	Management
4	Acknowledge Proper Convening of Meeting	For	For	Management
5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
6	Receive Financial Statements, Statutory Reports, and Board Report; Allow Questions	None	None	Management
7.1	Accept Financial Statements and Statutory Reports	For	For	Management
7.2	Approve Discharge of Board and President	For	For	Management
7.3	Approve Allocation of Income and Omission of Dividends	For	For	Management
8	Determine Number of Members (9) and Deputy Members (0) of Board	For	For	Management
9	Approve Remuneration of Directors in the Aggregate Amount of SEK 8 Million	For	For	Management
10	Reelect Peter Bonfield, Sverker Martin-Loef, Arne Maartensson, Eckhard Pfeiffer, Lena Torell, Carl-Henric Svanberg, Michael Treschow, and Marcus Wallenberg; Elect Nancy McKinstry as New Director	For	For	Management
11	Approve Remuneration of Auditors	For	For	Management
12	Ratify Peter Clemendtson (Oehrlings PricewaterhouseCoopers) as Auditor and Robert Bernden (Oehrlings PricewaterhouseCoopers) as Deputy Auditor	For	For	Management
13	Elect Bengt Belfrage, Christer Elmehagen, Anders Nyren, Bjoern Svedberg, and Michael Treschow as Members of Nominating Committee	For	For	Management
14.1	Reserve 23.5 Million Shares for New Long-Term Incentive Plan (Stock Purchase Plan) for Key Employees	For	For	Management
14.2	Authorize Board to Examine Reasonableness of Performance Criteria Attached to Incentive Plan (Item 14.1)	For	For	Management
14.3	Amend 2003 Employee Stock Purchase Plan Re: Threshold for Employee’s Maximum Contribution to Plan	For	For	Management
14.4	Authorize Reissuance of 24.6 Million Repurchased Class B Shares in Connection with 2003 and 2004 Employee Stock Purchase Plans	For	For	Management
14.5	Authorize Reissuance of 55.8 Million Repurchased Class B Shares in Connection with 2001 and 2003 Employee Compansation Plans	For	For	Management
15	Shareholder Proposal: Provide All Shares with Equal Voting Rights	Against	For	Shareholder
16	Close Meeting	None	None	Management

48

ERSTE BANK DER OESTER SPARK

Ticker:		Security ID:  AT0000652011
Meeting Date:  MAY 4, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3.a	Approve Discharge of Management Board	For	Did Not Vote	Management
3.b	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
4	Approve Remuneration of Directors	For	Did Not Vote	Management
5	Elect Supervisory Board Members	For	Did Not Vote	Management
6	Ratify Auditors	For	Did Not Vote	Management
7	Approve Spin-Off Agreement of FINAG-Holding AG	For	Did Not Vote	Management
8	Approve EUR 43.9 Million Capitalization of Reserves	For	Did Not Vote	Management
9	Approve 4:1 Stock Split	For	Did Not Vote	Management
10	Approve Creation of EUR 16.7 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
11	Authorize Repurchase of Up to Ten Percent of Issued Share Capital for Trading Purposes	For	Did Not Vote	Management
12	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
13	Amend Articles	For	Did Not Vote	Management

EURONEXT

Ticker:		Security ID:  NL0000241511
Meeting Date:  MAY 26, 2004		Meeting Type:  Annual
Record Date:  MAY 21, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Secretary of Meeting	For	Did Not Vote	Management
3.1	Receive Report of Management Board	None	Did Not Vote	Management
3.2	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
3.3	Approve Dividend in the Amount of EUR 0.50 Per Share; Receive Explanation of Reserves and Dividend Policy	For	Did Not Vote	Management
3.4	Approve Discharge of Management Board	For	Did Not Vote	Management
3.5	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
4	Discussion about Company’s Corporate Governance Report	None	Did Not Vote	Management
5	Receive Explanation of Remuneration Policy of Management Board	None	Did Not Vote	Management
6.1	Approve Stock Option Plan (Conditional Upon Approval of Items 6.2 and 6.3)	For	Did Not Vote	Management
6.2	Approve Grant of 760,000 Stock Options to Key Employees and Management Board Members (Conditional Upon Approval of Items 6.1 and 6.3)	For	Did Not Vote	Management
6.3	Approve Performance Criteria of Stock Option Plan (Conditional Upon Approval of Items 6.1 and 6.2)	For	Did Not Vote	Management
6.4	Approve Grant of Stock Options to Individual Management Board Members (Included in the 760,000 Stock Options Under Item 6.2)	For	Did Not Vote	Management
7.1	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
7.2	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
8	Reelect J. Hessels, D. Hoenn, and J. Peterbroeck to Supervisory Board; Elect P. Houel to Supervisory Board	For	Did Not Vote	Management
9	Approve Remuneration of Supervisory Board Committee Members (EUR 7,500 for Audit Committee Members; EUR 5,000 for Remuneration/Nomination Committee Members; EUR 3,000 for IT Committee Members)	For	Did Not Vote	Management
10	Ratify Ernst & Young as Auditors	For	Did Not Vote	Management
11	Other Business (Non-Voting)	None	Did Not Vote	Management
12	Close Meeting	None	Did Not Vote	Management

49

FINANSBANK

Ticker:  FNKXY		Security ID:  TRAFINBN91N3
Meeting Date:  MAR 24, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Financial Statements and Statutory Reports, and Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
4	Approve Allocation of Income	For	Did Not Vote	Management
5	Increase Authorized Capital from TRL 500 Trillion to TRL 1,000 Trillion, and Amend Articles No. 7, 33, and 34	For	Did Not Vote	Management
6	Fix Number of and Elect Directors and Internal Auditors, and Determine Their Terms of Office	For	Did Not Vote	Management
7	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
8	Ratify Indepedent External Auditors	For	Did Not Vote	Management
9	Approve Donations Made in Financial Year 2003	For	Did Not Vote	Management
10	Grant Permission for Board Members to Engage in Commercial Transactions With the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
11	Wishes	None	Did Not Vote	Management

50

FLUGHAFEN WIEN AG

Ticker:		Security ID:  AT0000911805
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
4	Approve Remuneration of Directors	For	Did Not Vote	Management
5	Elect Supervisory Board Members	For	Did Not Vote	Management
6	Ratify Auditors	For	Did Not Vote	Management

FOMENTO ECONOMICO MEXICANO S.A. (FEMSA)

Ticker:		Security ID:  MXP320321310
Meeting Date:  MAR 11, 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	For	Against	Management
3	Fix the Maximum Amount to Be Used in the Share Repurchase	For	For	Management
4	Elect Management and Supervisory Boards and Fix Their Remuneration	For	For	Management
5	Elect Committees	For	For	Management
6	Designate Shareholders to Approve and Sign Minutes of Meeting	For	For	Management
7	Approve Minutes of Meeting	For	For	Management

FOMENTO ECONOMICO MEXICANO S.A. (FEMSA)

Ticker:		Security ID:  MXP320321310
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

51

FORTIS SA/NV (FRMLY FORTIS B (FORMERLY FORTIS AG ))

Ticker:		Security ID:  BE0003801181
Meeting Date:  MAY 26, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2.1	Accept Financial Statements	For	Did Not Vote	Management
2.2	Approve Dividends in the Amount of EUR 0.92 Per Share	For	Did Not Vote	Management
2.3	Approve Discharge of Directors and Auditors	For	Did Not Vote	Management
3	Discussion about Company’s Corporate Governance Report	None	Did Not Vote	Management
4.1	Reelect Anton van Rossum, Jan-Michiel Hessels, and Baron Piet Van Waeyenberge to Management Board	For	Did Not Vote	Management
4.2	Elect Phlippe Bodson, Richard Delbridge, Jacques Manardo, Ronald Sandler, and Rana Talwar to Management Board	For	Did Not Vote	Management
5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
6	Amend Articles Re: Composition and Powers of Main Corporate Bodies; Compliance with Dutch Corporate Governance Code; Other Amendments	For	Did Not Vote	Management
7	Close Meeting	For	Did Not Vote	Management

FORTIS SA/NV (FRMLY FORTIS B (FORMERLY FORTIS AG ))

Ticker:		Security ID:  BE0003801181
Meeting Date:  MAY 4, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
2	Amend Articles of Association Re: General Matters	For	Did Not Vote	Management

FORTUM OYJ (FORMERLY NESTE OY)

Ticker:		Security ID:  FI0009007132
Meeting Date:  DEC 18, 2003		Meeting Type:  Special
Record Date:  DEC 8, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Company Purpose; Duties of the Supervisory Board; Election and Terms of Board of Directors Members; Calling of Shareholder Meetings; Board Remuneration	For	For	Management
2	Approve Selling of Shares	For	For	Management

52

FORTUM OYJ (FORMERLY NESTE OY)

Ticker:		Security ID:  FI0009007132
Meeting Date:  MAR 25, 2004		Meeting Type:  Annual
Record Date:  MAR 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Receive Financial Statements and Statutory Reports	None	None	Management
1.2	Receive Auditor’s Report	None	None	Management
1.3	Receive Statement by Supervisory Board on Annual and Auditors’ Reports	None	None	Management
1.4	Accept Financial Statements and Statutory Reports	For	For	Management
1.5	Approve Allocation of Income and Dividends of EUR 0.42 Per Share	For	For	Management
1.6	Approve Discharge of Supervisory Board, Board of Directors, and President	For	For	Management
1.7	Approve Remuneration of Members of Supervisory Board and Auditors	For	For	Management
1.8	Fix Number of Members of Supervisory Board and Auditors	For	For	Management
1.9	Reelect Peter Fagernaes, Heikki Pentti, Birgitta Kantola, Lasse Kurkilathi, Antti Lagerroos, and Erkki Virtanen as Members of Supervisory Board; Elect Birgitta Johansson-Hedberg as New Member of Supervisory Board	For	For	Management
1.10	Ratify PricewaterhouseCoopers as Auditors	For	For	Management
2	Shareholder Proposal: Abolish Supervisory Board	None	Against	Shareholder
3	Shareholder Proposal: Establish a Nominating Committee	None	Against	Shareholder

53

FRANCE TELECOM SA

Ticker:		Security ID:  FR0000133308
Meeting Date:  APR 9, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Discharge Directors for Fiscal Year Ended Dec. 2003	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports for Fiscal Year Ended Dec. 2003	For	Did Not Vote	Management
3	Approve Treatment of Losses and Dividends of EUR 0.25 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
6	Fix Issue Price of Previous Authority to Issue Equity or Equity-Linked Securities without Preemptive Rights Submitted to Shareholder Vote at Feb. 25, 2003 EGM to Increase Capital by up to EUR 30 Billion	For	Did Not Vote	Management
7	Amend Article 1, 2, and 7 to Reflect 2003 Legislative Changes, Postal Service and Telecommunication Code, and European Parliament Directives	For	Did Not Vote	Management
8	Amend Articles to Reflect 2003 Legislative Changes; Remove French Government Obligation to Retain Majority Stake in Company and Amend Articles with Respect to Board Composition	For	Did Not Vote	Management
9	Amend Articles to Reflect Potential Change in Control with Respect to Powers of Chairman and Management	For	Did Not Vote	Management
10	Amend Articles of Association to Introduce Liquidation Provision	For	Did Not Vote	Management
11	Authorize Board to Issue Up to 30 Million Shares to Participants of Wanadoo Stock Option Plan in Connection with France Telecom Liquidity Agreement	For	Did Not Vote	Management
12	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management
13	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

FRAPORT AG

Ticker:		Security ID:  DE0005773303
Meeting Date:  JUN 2, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 0.44 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management
6	Elect Karlheinz Weimar to the Supervisory Board	For	Did Not Vote	Management
7	Amend Articles Re: Publication and Submission of Reports	For	Did Not Vote	Management
8	Approve Affiliation Agreements with Subsidiaries (Flughafen-Hahn GmbH)	For	Did Not Vote	Management

54

FREENET.DE  AG

Ticker:		Security ID:  DE0005792006
Meeting Date:  JUN 9, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 500 Million with Preemptive Rights; Approve Creation of EUR 4.5 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
6	Approve EUR 37.5 Million Capitalization of Reserves	For	Did Not Vote	Management
7	Approve Creation of EUR 26.5 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
8	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
9	Approve Affiliation Agreements with Subsidiaries (freenet Cityline GmbH and freenet Internet Beteiligungs GmbH)	For	Did Not Vote	Management
10	Adopt New Articles of Association	For	Did Not Vote	Management
11	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management
12	Elect Klaus-Dieter Scheurle to the Supervisory Board	For	Did Not Vote	Management

FRESENIUS MEDICAL CARE AG

Ticker:  FMS		Security ID:  DE0005785802
Meeting Date:  MAY 27, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.02 per Common Share and EUR 1.08 per Preference Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify KPMG Deutsche Treuhand-Gesellschaft AG as Auditors	For	Did Not Vote	Management
6	Elect Ulf Schneider to the Supervisory Board	For	Did Not Vote	Management

55

FUJI PHOTO FILM CO. LTD.

Ticker:  FUJIY		Security ID:  JP3814000000
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 12.5, Final JY 12.5, Special JY 0	For	For	Management
2	Amend Articles to: Increase Board Size and Number of Internal Auditors - Authorize Share Repurchases at Board’s Discretion - Limit Directors’ and Internal Auditors’ Legal Liability	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
4	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Directors	For	For	Management
6	Approve Adjustment to Aggregate Compensation Ceiling for Statutory Auditors	For	For	Management

FUJI TELEVISION NETWORK, INC.

Ticker:		Security ID:  JP3819400007
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 600, Final JY 600, Special JY 800	For	Against	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion - Lower Quorum Requirement for Special Business	For	Against	Management
3.1	Appoint Internal Statutory Auditor	For	Against	Management
3.2	Appoint Internal Statutory Auditor	For	For	Management

56

GECINA

Ticker:		Security ID:  FR0010040865
Meeting Date:  JUN 2, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	For	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	For	Management
3	Approve Standard Accounting Transfers	For	For	Management
4	Approve Allocation of Income and Dividends of EUR 3.35 per Common Share and EUR 0.65 per SIIC Share	For	For	Management
5	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	For	Management
6	Reelect Anne-Marie De Chalambert as Director	For	For	Management
7	Approve Remuneration of Directors in the Aggregate Amount of EUR 400,000	For	For	Management
8	Confirm End of Term of F.M Richard et Associes SA and Ernst & Young as Auditors, and Sylvain Elkaim and Dominique Duret-Ferrari as Alternate Auditors	For	For	Management
9	Confirm Resignation of Mazars & Guerard as Third Auditors and Patrick de Cambourg as Alternate Auditor	For	For	Management
10	Ratify Mazars & Guerard as Auditors	For	For	Management
11	Ratify PricewaterhouseCoopers Audit as Auditors	For	For	Management
12	Ratify Patrick de Cambourg as Alternate Auditors	For	For	Management
13	Ratify Pierre Coll as Alternate Auditors	For	For	Management
14	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management
15	Authorize Issuance of Bonds/Debentures in the Aggregate Value of EUR 1.5 Billion	For	For	Management
16	Approve Stock Option Plan Grants	For	Against	Management
17	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 150 Million	For	For	Management
18	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 150 Million	For	For	Management
19	Authorize Capitalization of Reserves of Up to EUR 150 Million for Bonus Issue or Increase in Par Value	For	For	Management
20	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	For	Management
21	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	For	Management
22	Authorize Filing of Required Documents/Other Formalities	For	For	Management

57

GETINGE AB

Ticker:		Security ID:  SE0000202624
Meeting Date:  NOV 10, 2003		Meeting Type:  Special
Record Date:  OCT 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Elect Chairman of Meeting	For	For	Management
3	Prepare and Approve List of Shareholders	For	For	Management
4	Approve Agenda of Meeting	For	For	Management
5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
6	Acknowledge Proper Convening of Meeting	For	For	Management
7	Approve 4:1 Stock Split	For	For	Management
8	Amend Corporate Purpose	For	For	Management
9	Close Meeting	None	None	Management

GETINGE AB

Ticker:		Security ID:  SE0000202624
Meeting Date:  APR 21, 2004		Meeting Type:  Annual
Record Date:  APR 8, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Elect Chairman of Meeting	For	For	Management
3	Prepare and Approve List of Shareholders	For	For	Management
4	Approve Agenda of Meeting	For	For	Management
5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
6	Acknowledge Proper Convening of Meeting	For	For	Management
7	Receive Financial Statements and Statutory Reports; Receive Remuneration Committee Report; Receive Information Regarding Non-Audit Fees Paid to Auditor	None	None	Management
8	Receive President’s Report	None	None	Management
9	Accept Financial Statements and Statutory Reports	For	For	Management
10	Approve Allocation of Income and Dividends of SEK 1.35 Per Share	For	For	Management
11	Approve Discharge of Board and President	For	For	Management
12	Shareholder Proposal: Authorize Board to Establish an Audit Committee	For	For	Shareholder
13	Determine Number of Members (7) and Deputy Members (0) of Board	For	For	Management
14	Approve Remuneration of Directors in the Aggregate Amount of SEK 2.1 Million; Approve Remuneration of Auditors	For	For	Management
15	Reelect Fredrik Arp, Carl Bennet, Carola Lemne, and Johan Malmquist as Directors; Elect Rolf Ekedahl, Margareta Norell-Bergendahl, and Johan Stern as New Directors	For	For	Management
16	Ratify Deloitte & Touche (Jan Nilsson) as Auditors	For	For	Management
17.1	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee	Against	For	Shareholder
17.2	Authorize Chairman of Board to Appoint Members of Nominating Committee	For	Against	Management
18	Approve Stock Appreciation Rights Plan for Key Employees in the USA	For	For	Management
19	Close Meeting	None	None	Management

58

GETRONICS NV

Ticker:		Security ID:  NL0000355923
Meeting Date:  APR 7, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Receive Report of Management Board	None	Did Not Vote	Management
3	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Approve Discharge of Management Board	For	Did Not Vote	Management
5	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
6	Ratify PricewaterhouseCoopers N.V. as Auditors	For	Did Not Vote	Management
7	Discussion about Company’s Corporate Governance Report	None	Did Not Vote	Management
8	Receive Explanation of Company’s Reserves and Dividend Policy	None	Did Not Vote	Management
9	Approve Remuneration Policy for Management Board Members	For	Did Not Vote	Management
10	Approve Remuneration of Supervisory Board	For	Did Not Vote	Management
11.1	Receive Announcement of Resignation of Van den Bergh from Supervisory Board	None	Did Not Vote	Management
11.2	Elect P. Gallagher as New Member of Supervisory Board	For	Did Not Vote	Management
12.1	Grant Board Authority to Issue Ordinary Shares Up to 30 Percent of Issued Capital	For	Did Not Vote	Management
12.2	Grant Board Authority to Restrict/Exclude Preemptive Rights from Ordinary Share Issuance Under Item 12.1	For	Did Not Vote	Management
13	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
14	Allow Questions	None	Did Not Vote	Management
15	Close Meeting	None	Did Not Vote	Management

GETRONICS NV

Ticker:		Security ID:  NL0000355923
Meeting Date:  DEC 17, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Approve Resignation of Ruckert from Management Board; Elect Oswald Coene and Kevin Roche to Management Board	For	Did Not Vote	Management
3	Discussion about Amended Supervisory Board Profile with Respect to Size and Composition	None	Did Not Vote	Management
4	Allow Questions	None	Did Not Vote	Management
5	Close Meeting	None	Did Not Vote	Management

59

GETRONICS NV

Ticker:		Security ID:  NL0000355923
Meeting Date:  FEB 23, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Grant Board Authority to Issue Up to 100 Million Ordinary Shares Restricting/Excluding Preemptive Rights	For	Did Not Vote	Management
3	Authorize Board to Exclude Preemptive Rights from Issuance Under Item 2	For	Did Not Vote	Management
4	Allow Questions	For	Did Not Vote	Management
5	Close Meeting	None	Did Not Vote	Management

GLAXOSMITHKLINE PLC (FORMERLY GLAXO WELLCOME PLC )

Ticker:  SBH		Security ID:  GB0009252882
Meeting Date:  MAY 17, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Elect Lawrence Culp as Director	For	For	Management
4	Elect Crispin Davis as Director	For	For	Management
5	Elect Sir Robert Wilson as Director	For	For	Management
6	Elect Tachi Yamada as Director	For	For	Management
7	Re-elect Sir Christopher Hogg as Director	For	For	Management
8	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For	Management
9	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
10	Authorise EU Political Donations up to Aggregate Nominal Amount of GBP 100,000	For	For	Management
11	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 74,330,954	For	For	Management
12	Authorise 594,647,632 Ordinary Shares for Market Purchase	For	For	Management

60

GLOBE TELECOM IN

Ticker:		Security ID:  PHY272571498
Meeting Date:  MAR 22, 2004		Meeting Type:  Annual
Record Date:  FEB 2, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Determination of Quorum	For	For	Management
2	Approve Minutes of Previous Shareholder Meeting	For	For	Management
3	Approve Annual Report of Officers	For	For	Management
4.1	Ratify All Acts and Resolutions of the Board of Directors and Management Adopted in the Ordinary Course of Business During the Preceding Year	For	For	Management
4.2	Approve Decrease in the Size of the Board from 15 to 11 Directors by Further Amending the Amended Articles of Incorporation and the Pertinent Provision in the Bye-Laws	For	For	Management
5	Elect Directors	For	For	Management
6	Appoint Auditors and Fix Their Remuneration	For	For	Management
7	Other Business	For	Against	Management
8	Adjournment	For	For	Management

GRUPO EMPRESARIAL ENCE(FRM.EMP. NAC.  DE CELULOSAS)

Ticker:		Security ID:  ES0130625017
Meeting Date:  JUN 7, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Allocation of Income, and Discharge Directors	For	For	Management
2	Adopt New Articles of Association	For	For	Management
3	Approve General Meeting Guidelines	For	For	Management
4	Approve Remuneration of Directors	For	For	Management
5	Authorize Share Repurchase Program	For	For	Management
6	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights	For	For	Management
7	Authorize Issuance of Convertible Bonds without Preemptive Rights	For	For	Management
8	Reelect Deloitte & Touche Espana SL as Auditors	For	For	Management
9	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management
10	Accept Board Guidelines Report	For	For	Management

61

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

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	For	Management
2	Designate Two Shareholders to Approve and Sign Minutes of Meeting	For	For	Management

62

GRUPO FINANCIERO GALICIA

Ticker:		Security ID:  ARP495251018
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Designate Two Shareholder Representatives of Minutes of Meeting	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports of Banco de Galicia y Buenos Aires SA; Determine Grupo Financiero Galicia’s Position Regarding Banco Galicia’s Next AGM	For	Did Not Vote	Management
3	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Approve Discharge of Management and Supervisory Committee	For	Did Not Vote	Management
5	Approve Remuneration of Directors and Supervisory Committee	For	Did Not Vote	Management
6	Approve Allocation of Income	For	Did Not Vote	Management
7	Approve Budget for Audit Committee	For	Did Not Vote	Management
8	Approve Shareholders’ Personal Income Tax Treatment	For	Did Not Vote	Management
9	Elect Three Supervisory Board Members	For	Did Not Vote	Management
10	Approve Remuneration of Auditors for Fiscal Year 2003	For	Did Not Vote	Management
11	Approve Auditors for Fiscal Year 2004	For	Did Not Vote	Management

GRUPO FINANCIERO INBURSA S.A. DE C.V.

Ticker:		Security ID:  MXP370641013
Meeting Date:  APR 14, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Ratify Resolutions Approved at EGM Held on April 29, 2003	For	Against	Management
2	Amend Articles	For	Against	Management
3	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management

63

GRUPO FINANCIERO INBURSA S.A. DE C.V.

Ticker:		Security ID:  MXP370641013
Meeting Date:  APR 14, 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 and Board Secretaries	For	For	Management
4	Approve Remuneration of Management and Supervisory Boards, and Board Secretaries	For	For	Management
5	Elect Evaluation and Compensation, Finance and Planning, and Audit Committee Members	For	For	Management
6	Approve Remuneration of Evaluation and Compensation, Finance and Planning, and Audit Committee Members	For	For	Management
7	Accept Report Re: Share Repurchase and Share Issuance Policies; Authorize Board to Set Aggregate Nominal Amount for Repurchase of Shares	For	For	Management
8	Approve Dividend of MXN 0.30 Per Share	For	For	Management
9	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management

H.LUNDBECK A/S

Ticker:		Security ID:  DK0010287234
Meeting Date:  MAR 30, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Report of Board	None	None	Management
2	Approve Financial Statements and Discharge Directors	For	For	Management
3	Approve Allocation of Income	For	For	Management
4	Elect Directors	For	For	Management
5	Ratify Auditors	For	For	Management
6.1	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management
6.2	Amend Articles Re: Designate Aktiebog Danmark A/S as Company Registrar	For	For	Management
6.3	Extend Authorization to Create DKK 40 Million Pool of Conditional Capital without Preemptive Rights	For	For	Management
6.4	Extend Authorization to Create DKK 4.3 Million Pool of Conditional Capital for Employee Stock Purchase Plan	For	Against	Management
6.5	Amend Articles Re: Delete Authorization Expiring on April 8, 2004, to Issue Stock Options	For	For	Management
7	Other Business (Non-Voting)	None	None	Management

64

HACI OMER SABANCI HOLDING A.S

Ticker:		Security ID:  TRESHOL00020
Meeting Date:  MAY 17, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Board and Statutory Reports	For	Did Not Vote	Management
4	Accept Financial Statements and Approve Allocation of Income	For	Did Not Vote	Management
5	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
6	Elect Directors; Determine Their Terms of Office and Remuneration	For	Did Not Vote	Management
7	Ratify Independent External Auditors	For	Did Not Vote	Management
8	Grant Permission for Board Members to Engage in Commercial Transactions with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management

HAGEMEYER NV

Ticker:		Security ID:  NL0000355477
Meeting Date:  APR 21, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Receive Report of Management Board	None	Did Not Vote	Management
3	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
4.1	Approve Discharge of Management Board	For	Did Not Vote	Management
4.2	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Elect B. Bourigeaud BA and M. de Raad to Supervisory Board	For	Did Not Vote	Management
6	Elect R. de Becker to Management Board	For	Did Not Vote	Management
7	Ratify Deloitte Accountants as Auditors	For	Did Not Vote	Management
8	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
9.1	Grant Board Authority to Issue Ordinary Shares Up to 20 Percent of Issued Share Capital	For	Did Not Vote	Management
9.2	Grant Board Authority to Exclude Preemptive Rights from Issuance Under Item 9.1	For	Did Not Vote	Management
10	Discussion about Company’s Corporate Governance Report	None	Did Not Vote	Management
11	Allow Questions	None	Did Not Vote	Management
12	Close Meeting	None	Did Not Vote	Management

65

HANA BANK

Ticker:		Security ID:  KR7002860005
Meeting Date:  MAR 26, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements	For	For	Management
2	Approve Appropriation of Retained Earnings and Dividends of KRW 500 Per Share	For	For	Management
3	Approve Capital Reduction/Share Cancellation	For	For	Management
4.1	Elect Directors	For	For	Management
4.2	Elect Members of Audit Committee	For	Against	Management
4.3	Appoint Auditor	For	For	Management
5	Approve Limit on Remuneration of Directors	For	For	Management
6	Approve Stock Option Grants	For	For	Management

HEIDELBERGER DRUCKMASCHINEN

Ticker:		Security ID:  DE0007314007
Meeting Date:  SEP 12, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Carrying Over of Net Income	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify PwC as Auditors	For	Did Not Vote	Management
6	Elect Martin Blessing, Clemens Boersig, Juergen Heraeus, Robert Koehler, Uwe Lueders. Gerhard Rupprecht, Klaus Sturany, and Jan Zilius to Supervisory Board	For	Did Not Vote	Management
7	Amend Articles Re: Designate Electronic Publications for Meeting Announcements and Invitation to Shareholder Meetings; Board Remuneration	For	Did Not Vote	Management
8	Authorize Repurchase of up to Ten Percent of Issued Share Capital; Authorize Board to Issue Repurchased Shares as New Shares without Preemptive Rights	For	Did Not Vote	Management

66

HEINEKEN NV

Ticker:		Security ID:  NL0000009157
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income	For	Did Not Vote	Management
4	Approve Discharge of Management Board	For	Did Not Vote	Management
5	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
6	Approve Lowering in Par Value from EUR 2  to EUR 1.60 via a 5:4 (Five New Shares for Every Four Currently Held) Stock Split	For	Did Not Vote	Management
7	Amend Articles Re: 5:4 Stock Split; Editorial Changes	For	Did Not Vote	Management
8.1	Elect A. Risseeuwto Supervisory Board	For	Did Not Vote	Management
8.2	Elect R. Overgaauw to Supervisory Board	Against	Did Not Vote	Management
9.1	Elect K. Bueche to Management Board	For	Did Not Vote	Management
9.2	Elect J. Buijs to Management Board	Against	Did Not Vote	Management
10	Discussion about Company’s Corporate Governance Report	None	Did Not Vote	Management

HELLENIC TELECOMMUNICATION ORGANIZATION

Ticker:  HLTQF		Security ID:  GRS260333000
Meeting Date:  JUN 17, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Ratify New Directors in Place of Resigned Ones	For	Did Not Vote	Management
2	Approve Reduction in Share Capital by Cancellation of 12.8 Million Shares	For	Did Not Vote	Management
3	Amend and Codify Articles of Association	For	Did Not Vote	Management
4	Present Statutory Reports	For	Did Not Vote	Management
5	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
6	Approve Allocation of Income	For	Did Not Vote	Management
7	Approve Discharge of Board and Auditors	For	Did Not Vote	Management
8	Approve Certified Auditors and One International Auditor and Authorize Board to Fix Their Remuneration	For	Did Not Vote	Management
9	Approve Contracts Between Company and Board and Grant a Proxy for the Conclusion of These Contracts	For	Did Not Vote	Management
10	Approve Remuneration of Directors for 2003 and Determine Their Remuneration for 2004	For	Did Not Vote	Management
11	Approve Remuneration of Chairman of The Board, Managing Director and Executive Vice Chairman for 2003 and Determine Their Remuneration for 2004	For	Did Not Vote	Management
12	Approve Termination of Employment Agreements With Former Chairman, Managing Director and Executive Vice Chairman	For	Did Not Vote	Management
13	Fix Number of and Elect Directors; Designate Independent Board Members	For	Did Not Vote	Management
14	Other Business (Non-Voting)	None	Did Not Vote	Management

67

HELLENIC TELECOMMUNICATION ORGANIZATION

Ticker:  HLTQF		Security ID:  GRS260333000
Meeting Date:  DEC 1, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorize Share Repurchase Program	For	Did Not Vote	Management

HENKEL KGAA

Ticker:		Security ID:  DE0006048408
Meeting Date:  APR 19, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.14 per Common Share and EUR 1.20 per Preference Share	For	Did Not Vote	Management
3	Approve Discharge of Personally Liable Partners	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Approve Discharge of Shareholders’ Committee	For	Did Not Vote	Management
6	Ratify KPMG Deutsche Treuhandgesellschaft AG as Auditors	For	Did Not Vote	Management
7	Elect Paul Achleitner, Stefan Hamelmann, Ulrich Hartmann, Christoph Henkel, Juergen Manchot, Burkhard Schmidt, Konstantin von Unger, Karel Vuursteen, Hans-Dietrich Winkhaus, and Albrecht Woeste to Shareholders’ Committee	For	Did Not Vote	Management
8	Authorize Repurchase of up to Ten Percent of Issued Share Capital; Authorize Board to Issue Repurchased Shares as New Shares without Preemptive Rights	For	Did Not Vote	Management
9	Adopt New Articles of Association due to Changes in German Disclosure Regulations and Company Stock Corporation Law	For	Did Not Vote	Management
10	Approve Affiliation Agreements with Subsidiaries (Henkel Dorus GmbH)	For	Did Not Vote	Management

68

HIGHLAND GOLD MINING LTD

Ticker:		Security ID:  GB0032360173
Meeting Date:  MAY 20, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Final Dividend of 0.015 US Cents Per Ordinary Share	For	For	Management
3	Elect Dmitri Korobov as Director	For	For	Management
4	Elect Gennady Nevidomi as Director	For	For	Management
5	Elect Denis Alexandrov as Director	For	For	Management
6	Re-appoint Ernst and Young LLP as Auditors of the Company	For	For	Management
7	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
8	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to 180,161,740 Ordinary Shares	For	Against	Management

HITACHI CAPITAL CORP. (FRM. HITACHI CREDIT CORP.)

Ticker:		Security ID:  JP3786600001
Meeting Date:  JUN 18, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	Against	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	Against	Management
2.5	Elect Director	For	Against	Management
2.6	Elect Director	For	Against	Management

HITACHI CONSTRUCTION MACHINERY CO. LTD.

Ticker:		Security ID:  JP3787000003
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Increase Authorized Capital from 300 Million to 700 Million Shares - Authorize Share Repurchases at Board’s Discretion	For	Against	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	For	Management
2.5	Elect Director	For	For	Management
2.6	Elect Director	For	Against	Management
2.7	Elect Director	For	Against	Management
2.8	Elect Director	For	Against	Management
3	Approve Executive Stock Option Plan	For	For	Management

69

HITACHI LTD.

Ticker:  HIT		Security ID:  JP3788600009
Meeting Date:  JUN 24, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	For	Management
2.5	Elect Director	For	For	Management
2.6	Elect Director	For	For	Management
2.7	Elect Director	For	For	Management
2.8	Elect Director	For	For	Management
2.9	Elect Director	For	For	Management
2.10	Elect Director	For	For	Management
2.11	Elect Director	For	For	Management
2.12	Elect Director	For	For	Management
2.13	Elect Director	For	For	Management
2.14	Elect Director	For	For	Management
3	Approve Executive Stock Option Plan	For	For	Management

HOLCIM LTD.  (FORMERLY HOLDERBANK FINANCIERE GLARUS)

Ticker:		Security ID:  CH0012214059
Meeting Date:  MAY 14, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Use of Electronic Means at Shareholder Meetings	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
4	Approve Allocation of Income and Dividends of CHF 1.15 per Share	For	Did Not Vote	Management
5	Approve Creation of CHF 57.5 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
6	Amend Articles Re: Establish a Classified Board	For	Did Not Vote	Management
7.1.1	Elect Onno Ruding as Director	For	Did Not Vote	Management
7.1.2	Reelect Rolf Soiron, Markus Akermann, and Peter Kuepfer as Directors	For	Did Not Vote	Management
7.2	Ratify Ernst & Young AG as Auditors	For	Did Not Vote	Management

70

HONDA MOTOR CO. LTD.

Ticker:  HMCL		Security ID:  JP3854600008
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 19, Final JY 23, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
3.18	Elect Director	For	For	Management
3.19	Elect Director	For	For	Management
3.20	Elect Director	For	For	Management
3.21	Elect Director	For	For	Management
3.22	Elect Director	For	For	Management
3.23	Elect Director	For	For	Management
3.24	Elect Director	For	For	Management
3.25	Elect Director	For	For	Management
3.26	Elect Director	For	For	Management
3.27	Elect Director	For	For	Management
3.28	Elect Director	For	For	Management
3.29	Elect Director	For	For	Management
3.30	Elect Director	For	For	Management
3.31	Elect Director	For	For	Management
3.32	Elect Director	For	For	Management
3.33	Elect Director	For	For	Management
3.34	Elect Director	For	For	Management
3.35	Elect Director	For	For	Management
3.36	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
4.3	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Adjustment to Aggregate Compensation Ceiling for Directors	For	For	Management
6	Approve Payment of Annual Bonuses to Directors and Statutory Auditors	For	For	Management
7	Approve Retirement Bonuses for Directors and Statutory Auditor	For	For	Management

71

HYPO REAL ESTATE HOLDING AG

Ticker:		Security ID:  DE0008027707
Meeting Date:  JUN 4, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Approve Creation of EUR 201.1 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
6	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 450 Million with Preemptive Rights; Approve Creation of EUR 40.2 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
7	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members	For	Did Not Vote	Management
8	Approve Conversion of Preference Shares into Common Shares	For	Did Not Vote	Management
9	Special Resolution for Holders of Common Shares: Approve Conversion of Preference Shares into Common Shares	For	Did Not Vote	Management
10	Amend Articles Re: Supervisory Board	For	Did Not Vote	Management
11	Elect Ferdinand Graf von Ballestrem, Antoine Jeancourt-Galignani, Pieter Korteweg, Robert Mundheim, Klaus Pohle, and Kurt Viermetz to the Supervisory Board	For	Did Not Vote	Management
12	Ratify KPMG Deutsche Treuhand-Gesellschaft AG as Auditors	For	Did Not Vote	Management

HYUNDAI MOTOR CO.

Ticker:		Security ID:  KR7005380001
Meeting Date:  MAR 12, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Appropriation of Income and Dividends of KRW 1000 Per Share	For	For	Management
2	Amend Articles of Incorporation	For	For	Management
3	Elect Directors	For	For	Management
4	Elect Member of Audit Committee	For	For	Management
5	Approve Limit on Remuneration of Directors	For	For	Management

72

IMPERIAL TOBACCO GROUP PLC

Ticker:  ITY		Security ID:  GB0004544929
Meeting Date:  FEB 3, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 30 Pence Per Share	For	For	Management
4	Reelect Sipko Huismans as Director	For	For	Management
5	Reelect Iain Napier as Director	For	For	Management
6	Elect David Cresswell as Director	For	For	Management
7	Elect Frank Rogerson as Director	For	For	Management
8	Elect Bruce Davidson as Director	For	For	Management
9	Elect David Thursfield as Director	For	For	Management
10	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
11	Amend Articles of Association Re: Maximum Number of Directors	For	For	Management
12.1	Authorize the Company to Make EU Political Donations up to GBP 100,000	For	For	Management
12.2	Authorize Imperial Tobacco Ltd. to Make EU Political Donations up to GBP 100,000	For	For	Management
12.3	Authorize Imperial Tobacco International Ltd. to Make EU Political Donations up to GBP 100,000	For	For	Management
12.4	Authorize Van Nelle Tabak Nederland B.V. to Make EU Political Donations up to GBP 100,000	For	For	Management
12.5	Authorize John Player and Sons Ltd. to Make EU Political Donations up to GBP 100,000	For	For	Management
12.6	Authorize Reemtsma Cigarettenfabriken GmbH to Make EU Political Donations up to GBP 100,000	For	For	Management
12.7	Authorize Compagnie Independante des Tabacs S.A. to Make EU Political Donations up to GBP 100,000	For	For	Management
13	Authorize the Board to Grant Options to Employees Resident in France Under the Imperial Tobacco Group International Sharesave Plan for a Further 38 Months	For	For	Management
14	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of GBP 24,300,000	For	For	Management
15	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 3,645,000	For	For	Management
16	Authorize 72,900,000 Shares for Share Repurchase Program	For	For	Management

73

INVENSYS PLC (FORMELRY BTR SIEBE PLC)

Ticker:		Security ID:  GB0008070418
Meeting Date:  MAR 2, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Sub-Division of Each Issued Ordinary Share of 25 Pence Each into 1 Ordinary Share of 1 Pence and 1 Deferred Share of 24 Pence; and Sub-Division of Each Authorised but Unissued Ordinary Share of 1 Pence Each into 25 Ordinary Shares of 1 Pence Each	For	For	Management
2	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to GBP 21,873,630 Pursuant to Placing and Open Offer and Otherwise up to Aggregate Nominal Amount of GBP 18,957,146	For	For	Management
3	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to GBP 21,873,630 Pursuant to Placing and Open Offer and Otherwise up to Aggregate Nominal Amount of GBP 2,843,572	For	For	Management

ITO-YOKADO CO. LTD.

Ticker:  ITOYO		Security ID:  JP3142800006
Meeting Date:  MAY 27, 2004		Meeting Type:  Annual
Record Date:  FEB 29, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 16, Final JY 18, Special JY 0	For	For	Management
2	Amend Articles to: Change Location of Head Office - Authorize Share Repurchases at Board’s Discretion - Limit Directors’ and Internal Auditors’ Legal Liability	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
4	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Directors and Statutory Auditor	For	For	Management

74

JERONIMO MARTINS

Ticker:		Security ID:  PTJMT0AE0001
Meeting Date:  APR 15, 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	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
5	Amend Articles	For	Did Not Vote	Management
6	Authorize EUR 150 Million Capital Increase Through Issuance of 30 Million New Shares at EUR 5 per Share; Amend Article 5 Accordingly	For	Did Not Vote	Management
7	Elect Board Committees for 2004-2006	For	Did Not Vote	Management
8	Elect Members to Remuneration Committee	For	Did Not Vote	Management

JOHN FAIRFAX HOLDINGS LTD.

Ticker:		Security ID:  AU000000FXJ5
Meeting Date:  OCT 31, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Mark Burrows as Director	For	For	Management
2	Elect Roger Corbett as Director	For	For	Management
3	Elect David Gonski as Director	For	For	Management
4	Elect Margaret Jackson as Director	For	For	Management
5	Elect Ronald Walker as Director	For	For	Management
6	Approve Issuance of 110.25 Million Ordinary Shares for a Private Placement	For	For	Management
7	Approve the Terms of Dividend Reinvestment Plan	For	For	Management

JUPITER NARODOWY FUND INVEST

Ticker:		Security ID:  PLNFI0300017
Meeting Date:  SEP 12, 2003		Meeting Type:  Special
Record Date:  SEP 5, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Accept Meeting Agenda	For	Did Not Vote	Management
5	Elect Supervisory Board	For	Did Not Vote	Management
6	Approve Sale of Company Assets	For	Did Not Vote	Management
7	Close Meeting	None	Did Not Vote	Management

75

JUPITER NARODOWY FUND INVEST

Ticker:		Security ID:  PLNFI0300017
Meeting Date:  FEB 11, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Accept Meeting Agenda	For	Did Not Vote	Management
5	Elect Members of Election Committee	For	Did Not Vote	Management
6	Elect Supervisory Board	For	Did Not Vote	Management
7	Approve Appendix to Agreement on Management of Jupiter NFI’s Assets	For	Did Not Vote	Management
8	Approve Cancellation of Resolution Adopted on March 10, 2000	For	Did Not Vote	Management
9	Close Meeting	For	Did Not Vote	Management

JUPITER NARODOWY FUND INVEST

Ticker:		Security ID:  PLNFI0300017
Meeting Date:  APR 30, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Approve Agenda of Meeting	For	Did Not Vote	Management
5.1	Receive Management Board Report	None	Did Not Vote	Management
5.2	Receive Financial Statements	None	Did Not Vote	Management
5.3	Receive Supervisory Board Report	None	Did Not Vote	Management
6.1	Approve Management Board Report	For	Did Not Vote	Management
6.2	Approve Financial Statements	For	Did Not Vote	Management
6.3	Approve Covering of Loss for 2003	For	Did Not Vote	Management
6.4	Approve Covering of Loss from Previous Years	For	Did Not Vote	Management
6.5	Approve Discharge of Management Board	For	Did Not Vote	Management
6.6	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
7	Elect Supervisory Board	For	Did Not Vote	Management
8	Close Meeting	None	Did Not Vote	Management

76

KAO CORP.

Ticker:		Security ID:  JP3205800000
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 16, Final JY 16, Special JY 0	For	For	Management
2	Authorize Share Repurchase Program	For	For	Management
3	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
4.1	Elect Director	For	For	Management
4.2	Elect Director	For	For	Management
4.3	Elect Director	For	For	Management
4.4	Elect Director	For	For	Management
4.5	Elect Director	For	For	Management
4.6	Elect Director	For	For	Management
4.7	Elect Director	For	For	Management
4.8	Elect Director	For	For	Management
4.9	Elect Director	For	For	Management
4.10	Elect Director	For	For	Management
4.11	Elect Director	For	For	Management
4.12	Elect Director	For	For	Management
4.13	Elect Director	For	For	Management
4.14	Elect Director	For	For	Management
4.15	Elect Director	For	For	Management
5	Appoint Internal Statutory Auditor	For	For	Management
6	Approve Executive Stock Option Plan	For	For	Management
7	Approve Retirement Bonuses for Directors	For	For	Management

77

KBC BANK AND INSURANCE HOLDING COMPANY

Ticker:		Security ID:  BE0003565737
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Directors’ Report	None	Did Not Vote	Management
2	Receive Auditors’ Report	None	Did Not Vote	Management
3	Approve Financial Statements and Allocation of Income and Gross Dividend of EUR 1.64 per Share	For	Did Not Vote	Management
4	Approve Discharge of Directors	For	Did Not Vote	Management
5	Approve Discharge of Auditors	For	Did Not Vote	Management
6.1	Reelect Willy Duron, Emile Celis, Christin Defrancq, Rik Donckels, Frans Florquin, Xavier Lienart, Paul Peeters, Patrick Vanden Avenne, Germain Vantieghem, and Marc Wittemans as Directors	For	Did Not Vote	Management
6.2	Reelect Willy Breesch and Alfons Wouters as Directors and Confirm Them as Independent Directors	For	Did Not Vote	Management
6.3	Confirm Jozef Cornu and Herwig Langohr as Independent Directors	For	Did Not Vote	Management
6.4	Reappoint Ernst & Young as Auditors and Fix Their Remuneration	For	Did Not Vote	Management
7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
8	Transact Other Business	None	Did Not Vote	Management

KBC BANK AND INSURANCE HOLDING COMPANY

Ticker:		Security ID:  BE0003565737
Meeting Date:  APR 29, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Directors’ Special Report Regarding Plans to Increase Share Capital within the Framework of Authorized Capital	None	Did Not Vote	Management
2	Renew Authorization to Increase Share Capital within the Framework of Authorized Capital up to EUR 200 Million for Period of Five Years	For	Did Not Vote	Management
3	Amend Articles Re: Delete Transitional Provision Concerning Bond Loan	For	Did Not Vote	Management
4	Authorize Board to Repurchase Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did Not Vote	Management
5	Amend Articles Re: Independent Directors	For	Did Not Vote	Management
6	Amend Articles Re: Board’s Executive Committee	For	Did Not Vote	Management
7	Amend Articles Re: Allocation of Profit	For	Did Not Vote	Management
8	Renew Authorization to Increase Share Capital Through Issuance of Warrants/Convertible Bonds with or without Preemptive Rights within the Framework of Authorized Capital up to EUR 200 Million for Period of Five Years	For	Did Not Vote	Management
9	Authorize Implementation of Approved Resolutions and Filing of Required Documents/Formalities at Trade Registry	For	Did Not Vote	Management

78

KIMBERLY CLARK DE MEXICO S.A. DE C.V.

Ticker:		Security ID:  MXP606941179
Meeting Date:  MAR 2, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Individual and Consolidated Financial Statements and Statutory Reports; Approve Allocation of Income	For	For	Management
2	Approve Series A, B, and Special Series T Cash Dividend of MXN 1.88 Per Share	For	For	Management
3	Elect Management Board, Supervisory Board Members, and Respective Alternates	For	For	Management
4	Approve Remuneration of Directors, Supervisory Board, and Respective Alternates	For	For	Management
5	Approve Reduction of MXN 226,015.28 in Share Capital Via Cancellation of 27.6 Million Shares (14.3 Million Series A and 13.3 Million Series B)	For	For	Management
6	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
7	Approve Merger by Absorption of Papeles de Calidad San Rafael SA de CV	For	For	Management
8	Approve Issuance of 18 Million Special Series T Workers’ Shares to Service Employee Stock Ownership Plan	For	Against	Management
9	Amend Articles Re: Compliance With Mexican Market Regulation	For	For	Management
10	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management

KOBENHAVNS LUFTHAVE

Ticker:		Security ID:  DK0010201102
Meeting Date:  MAY 6, 2004		Meeting Type:  Special
Record Date:  APR 26, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Approve DKK 77 Million Reduction in Share Capital via Share Cancellation	For	Did Not Vote	Management
1.2	Amend Articles Re: Remove 10 Percent Ownership Ceiling	For	Did Not Vote	Management
2	Other Business (Non-Voting)	None	Did Not Vote	Management

79

KOBENHAVNS LUFTHAVE

Ticker:		Security ID:  DK0010201102
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Report of Board	None	None	Management
2	Accept Financial Statements and Statutory Reports	For	For	Management
3	Approve Discharge of Management and Board	For	For	Management
4	Approve Allocation of Income and Dividends of DKK 18.21 Per Share	For	For	Management
5	Reelect Rolf Boerjesson, Henrik Gurtler, and Bjarne Hansen as Directors; Elect Ole Andersen, Annette Sadolin, and Ivar Samren as New Directors	For	For	Management
6	Ratify PricewaterhouseCoopers and Grant Thornton as Auditors	For	For	Management
7.1	Approve DKK 77 Million Reduction in Share Capital via Share Cancellation	For	For	Management
7.2	Amend Articles Re: Remove 10 Percent Ownership Ceiling	For	For	Management
7.3	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management
8	Other Business (Non-Voting)	None	None	Management

KOC HOLDING

Ticker:		Security ID:  TRAKCHOL91Q8
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Accept Board Report and Statutory Reports	For	Did Not Vote	Management
3	Accept Financial Statements	For	Did Not Vote	Management
4	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
5	Approve Allocation of Income	For	Did Not Vote	Management
6	Fix Number of and Elect Directors; Determine Their Terms of Office	For	Did Not Vote	Management
7	Elect Internal Auditors	For	Did Not Vote	Management
8	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
9	Ratify Independent External Auditors	For	Did Not Vote	Management
10	Approve Donations Made in Financial Year 2003	For	Did Not Vote	Management
11	Grant Permission for Board Members to Engage in Commercial Transaction with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
12	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
13	Wishes	None	Did Not Vote	Management

80

KOC HOLDING

Ticker:		Security ID:  TRAKCHOL91Q8
Meeting Date:  DEC 10, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting and Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Accept Financial Statements	For	Did Not Vote	Management
3	Approve Transfer of Migros Ltd. Shares Held by Temel Ticaret Yatirim A.S.	For	Did Not Vote	Management
4	Approve Increase in Common Stock and Partial Stock Split	For	Did Not Vote	Management
5	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management

KOITO MFG. CO. LTD.

Ticker:		Security ID:  JP3284600008
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 5, Final JY 7, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Appoint Internal Statutory Auditor	For	For	Management
3.2	Appoint Internal Statutory Auditor	For	For	Management
3.3	Appoint Internal Statutory Auditor	For	For	Management
4	Approve Increase in Aggregate Compensation Ceiling for Directors	For	For	Management

KOMERCNI BANKA A.S.

Ticker:		Security ID:  CZ0008019106
Meeting Date:  JUN 17, 2004		Meeting Type:  Annual
Record Date:  JUN 10, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Chairman and Other Meeting Officials; Approve Procedural Rules	For	Did Not Vote	Management
3	Approve Board Report	For	Did Not Vote	Management
4	Discuss Financial Statements and Consolidated Financial Statements	None	Did Not Vote	Management
5	Receive Supervisory Board Report on Financial Statements, Allocation of Income, and Related Party Transactions	None	Did Not Vote	Management
6	Approve Financial Statements	For	Did Not Vote	Management
7	Approve Allocation of Income	For	Did Not Vote	Management
8	Approve Consolidated Financial Statements	For	Did Not Vote	Management
9	Authorize Share Repurchase Program	For	Did Not Vote	Management
10	Approve Remuneration of Directors	For	Did Not Vote	Management
11	Amend Articles of Association	For	Did Not Vote	Management
12	Close Meeting	None	Did Not Vote	Management

81

KONINKLIJKE GROLSCH NV

Ticker:		Security ID:  NL0000354793
Meeting Date:  SEP 2, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Announcement of Proposed Election of A.J. Pasman and R. Snel to Management Board	None	Did Not Vote	Management
3	Other Business (Non-Voting)	None	Did Not Vote	Management
4	Close Meeting	None	Did Not Vote	Management

KONINKLIJKE GROLSCH NV

Ticker:		Security ID:  NL0000354793
Meeting Date:  APR 27, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Receive Report of Management Board	None	Did Not Vote	Management
3	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
4.1	Receive Explanation of Company’s Reserves and Dividend Policy	None	Did Not Vote	Management
4.2	Approve Dividends	For	Did Not Vote	Management
5.1	Approve Discharge of Management Board	For	Did Not Vote	Management
5.2	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
6.1	Approve Remuneration Policy for Management Board Members	For	Did Not Vote	Management
6.2	Approve Remuneration of Supervisory Board	For	Did Not Vote	Management
7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
8	Receive Announcement of Resignation of Hovers from Supervisory Board in 2005	None	Did Not Vote	Management
9	Allow Questions	None	Did Not Vote	Management

82

KOOKMIN BANK

Ticker:  KKBKY		Security ID:  KR7060000007
Meeting Date:  MAR 23, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Non-Consolidated Financial Statements and Disposition of Deficit, with No Dividends	For	For	Management
2	Amend Articles of Incorporation	For	For	Management
3	Elect Directors	For	For	Management
4	Elect Members of Audit Committee	For	For	Management
5	Approve Stock Option Grants	For	For	Management

LONZA GROUP LTD.

Ticker:		Security ID:  CH0013841017
Meeting Date:  MAR 31, 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	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of CHF 1.30 per Share	For	Did Not Vote	Management
4	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
5	Reelect Peter Kalantzis, Bernard Mach, Sergio Marchionne, and Richard Sykes as Directors; Elect Peter Wilden as Director	For	Did Not Vote	Management
6	Reelect KPMG Fides Peat as Auditors	For	Did Not Vote	Management

LUKOIL OAO

Ticker:  LUKFY		Security ID:  RU0009024277
Meeting Date:  JUN 24, 2004		Meeting Type:  Annual
Record Date:  MAY 7, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Annual Report, Financial Statements, Allocation of Income and Declare Dividends of RUB 24 per Ordinary Share	For	For	Management
2	Approve Dividends of RUB 24 Per Share	For	For	Management
3.1	Reelect Vagit Alekperov as Director	For	Withhold	Management
3.2	Reelect Mikhail Berezhnoi as Director	For	Withhold	Management
3.3	Reelect Alexander Braverman as Director	For	Withhold	Management
3.4	Reelect Valery Grayfer as Director	For	Withhold	Management
3.5	Elect Tatiana Yesaulkova as Director	For	Withhold	Management
3.6	Elect Vadim Kleiner as Director	For	For	Management
3.7	Reelect Oleg Kutafin as Director	For	For	Management
3.8	Reelect Ravil Maganov as Director	For	Withhold	Management
3.9	Elect Vladimir Malin as Director	For	Withhold	Management
3.10	Reelect Richard Matzke as Director	For	For	Management
3.11	Reelect Sergei Mikhailov as Director	For	Withhold	Management
3.12	Reelect Mark Mobius as Director	For	For	Management
3.13	Elect Alexander Tikhonov as Director	For	Withhold	Management
3.14	Reelect Nikolai Tsvetkov as Director	For	Withhold	Management
3.15	Reelect Igor Sherkunov as Director	For	Withhold	Management
4.1	Elect Vladimir Nikitenko to Inspection Committee (Audit Commission)	For	For	Management
4.2	Elect Tatiana Sklyarova to Inspection Committee (Audit Commission)	For	For	Management
4.3	Elect Natalia Tanulyak to Inspection Committee (Audit Commission)	For	For	Management
4.4	Elect Pavel Kondratiev to Inspection Committee (Audit Commission)	For	For	Management
4.5	Elect Lyudmila Bulavina to Inspection Committee (Audit Commission)	For	For	Management
5	Approve Remuneration of Board of Directors and Audit Commission; Approve Director/Officer Liability and Indemnification	For	For	Management
6	Ratify KPMG as Auditor	For	For	Management
7	Amend Charter	For	For	Management
8	Amend Regulations on General Meeting of Shareholders	For	For	Management
9	Amend Regulations on Board of Directors	For	For	Management
10	Approve Transaction with a Interested/Related Party	For	For	Management

83

LVMH MOET HENNESSY LOUIS VUITTON

Ticker:  LVMHY		Security ID:  FR0000121014
Meeting Date:  MAY 13, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Financial Statements and Discharge Directors	For	Did Not Vote	Management
3	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
4	Approve Allocation of Income and Net Dividends of EUR 0.85 per Share	For	Did Not Vote	Management
5	Ratify Cooptation and Reelect Delphine Arnault as Director	For	Did Not Vote	Management
6	Reelect Bernard Arnault as Director	For	Did Not Vote	Management
7	Reelect Jean Arnault as Director	For	Did Not Vote	Management
8	Reelect Nicholas Clive-Worms as Director	For	Did Not Vote	Management
9	Reelect Felix G. Rohatyn as Director	For	Did Not Vote	Management
10	Elect Patrick Houel as Director	For	Did Not Vote	Management
11	Elect Hubert Vedrine as Director	For	Did Not Vote	Management
12	Appoint Kilian Hennesy as Censor	For	Did Not Vote	Management
13	Ratify Deloitte Touche Tohmatsu Audit as Auditors	For	Did Not Vote	Management
14	Ratify Ernst & Young Audit as Auditors	For	Did Not Vote	Management
15	Ratify Denis Grison as Alternate Auditor	For	Did Not Vote	Management
16	Ratify Dominique Thouvenin as Alternate Auditor	For	Did Not Vote	Management
17	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
18	Approve Remuneration of Directors in the Aggregate Amount of EUR 1.14 Million	For	Did Not Vote	Management
19	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
20	Amend Articles of Association Re: Board Size and Terms of Directors, Minimum Share Ownership Requirement for Board Members, Role of Chairman, and Editorial Changes	For	Did Not Vote	Management

84

MATAV RT

Ticker:		Security ID:  HU0000016522
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:  APR 20, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Directors’ Report on Company Business Policy and Financial Situation in 2003	For	Did Not Vote	Management
2	Approve Directors’ Report on Business Operations in 2003, Supervisory Board’s Report and Auditor’s Report	For	Did Not Vote	Management
3	Approve Allocation of Income Earned in 2003 and Dividend of HUF 70 per Share	For	Did Not Vote	Management
4	Approve Dematerialization of Shares	For	Did Not Vote	Management
5	Amend Articles of Association	For	Did Not Vote	Management
6	Elect Management Board	For	Did Not Vote	Management
7	Elect Supervisory Board	For	Did Not Vote	Management
8	Approve Remuneration of Management and Supervisory Board Members	For	Did Not Vote	Management
9	Approve Auditors and Fix Their Remuneration	For	Did Not Vote	Management
10	Approve Rules of Procedure of Supervisory Board	For	Did Not Vote	Management
11	Approve Amendments to Matav Stock Option Plan	Against	Did Not Vote	Shareholder
12	Other Business	For	Did Not Vote	Management

85

MATSUSHITA ELECTRIC INDUSTRIAL CO. LTD.

Ticker:  MCCM		Security ID:  JP3866800000
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 6.25, Final JY 6.25, Special JY 1.5	For	For	Management
2	Amend Articles to: Amend Business Lines - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
3.18	Elect Director	For	For	Management
3.19	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Directors	For	For	Management
6	Approve Retirement Bonuses for Statutory Auditors	For	Against	Management

MEDION AG

Ticker:		Security ID:  DE0006605009
Meeting Date:  MAY 18, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 0.70 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify Maerkische Revision GmbH as Auditors	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management

86

METRO AG

Ticker:		��	Security ID:  DE0007257503
Meeting Date:  JUN 4, 2004			Meeting Type:  Annual
Record Date:
#	Proposal		Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports		None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 1.02 per Common Share and EUR 1.12 per Preference Share		For	Did Not Vote	Management
3	Approve Discharge of Management Board		For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board		For	Did Not Vote	Management
5	Ratify Fasselt & Partner Wirtschaftspruefungsgesellschaft as Auditors		For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares		For	Did Not Vote	Management
7	Approve Creation of EUR 100 Million Pool of Conditional Capital with Preemptive Rights		For	Did Not Vote	Management
8	Approve Creation of EUR 125 Million Pool of Conditional Capital without Preemptive Rights		For	Did Not Vote	Management
9	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 1 billion with Preemptive Rights; Approve Creation of EUR 127.8 Million Pool of Conditional Capital to Guarantee Conversion Rights		For	Did Not Vote	Management
10	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members		For	Did Not Vote	Management

METROPOLE TELEVISION SA

Ticker:		Security ID:  FR0000053225
Meeting Date:  MAR 18, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles of Association to Reflect Financial Security Legislation Re: Shareholding Disclosure	For	Did Not Vote	Management
2	Amend Articles Board Related to Reflect New Economic Regulations Re: Removal of Management Board Members by Supervisory Board	For	Did Not Vote	Management
3	Amend Articles Board to Increase Term of Supervisory Board Members from One to Four Years	For	Did Not Vote	Management
4	Amend Articles of Association to Reflect Financial Security Legislation Re: Board Guidelines	For	Did Not Vote	Management
5	Amend Articles of Association to Reflect Financial Security Legislation Re: Related-Party Transactions	For	Did Not Vote	Management
6	Amend Articles of Association to Reflect Financial Security Legislation Re: Auditors	For	Did Not Vote	Management
7	Amend Articles of Association Re: Voting Restrictions	For	Did Not Vote	Management
8	Elect Patrick Ouart as Supervisory Board Member	For	Did Not Vote	Management
9	Elect Bernard Arnault as Supervisory Board Member	For	Did Not Vote	Management
10	Elect Jean Laurent as Supervisory Board Member	For	Did Not Vote	Management
11	Eect Guy de Panafieu as Supervisory Board Member	For	Did Not Vote	Management
12	Elect Thomas Rabe as Supervisory Board Member	For	Did Not Vote	Management
13	Elect Vincent de Dorlodot as Supervisory Board Member	For	Did Not Vote	Management
14	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

87

MICRONAS SEMICONDUCTOR

Ticker:		Security ID:  CH0012337421
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	Approve Allocation of Income and Omission of Dividends	For	Did Not Vote	Management
3	Approve Discharge of the Board and Senior Management	For	Did Not Vote	Management
4	Ratify Ernst und Young AG as Auditors	For	Did Not Vote	Management

MICRONAS SEMICONDUCTOR

Ticker:		Security ID:  CH0012337421
Meeting Date:  NOV 20, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Creation of CHF 8.1 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
2	Other Business (Non-Voting)	None	Did Not Vote	Management

88

MIGROS TURKEY

Ticker:		Security ID:  TRAMIGRS91J6
Meeting Date:  APR 14, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
4	Approve Allocation of Income	For	Did Not Vote	Management
5	Elect Directors and Determine Their Terms of Office	For	Did Not Vote	Management
6	Elect Internal Auditors and Determine Their Terms of Office	For	Did Not Vote	Management
7	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
8	Ratify Independent External Auditors	For	Did Not Vote	Management
9	Approve Increase in Authorized Capital to TRL 190 Trillion	For	Did Not Vote	Management
10	Grant Permission for Board Members to Individually Sign on Behalf of Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
11	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
12	Wishes	None	Did Not Vote	Management

MILLENIUM BCP (FORMERLY BANCO COMERCIAL PORTUGUES S.A.   )

Ticker:  BPC		Security ID:  PTBCP0AM0007
Meeting Date:  MAR 15, 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 Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
4	Amend Articles	For	Did Not Vote	Management
5	Ratify Appointment of Superior Council Member	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Authorize Repurchase and Reissuance of Bonds	For	Did Not Vote	Management

89

MITSUBISHI TOKYO FINANCIAL GROUP INC

Ticker:		Security ID:  JP3902900004
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 6000, Special JY 0	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
4	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Directors and Statutory Auditor	For	Against	Management

MIZUHO FINANCIAL GROUP INC.

Ticker:		Security ID:  JP3885780001
Meeting Date:  JUN 25, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3000, Special JY 0	For	For	Management
2	Approve Reduction in Legal Reserves	For	For	Management
3	Authorize Repurchase of Preferred Shares	For	For	Management
4	Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary Shares	For	For	Management
5.1	Elect Director	For	For	Management
5.2	Elect Director	For	For	Management
5.3	Elect Director	For	For	Management
6.1	Appoint Internal Statutory Auditor	For	For	Management
6.2	Appoint Internal Statutory Auditor	For	For	Management
7	Approve Retirement Bonuses for Directors and Statutory Auditors	For	Against	Management
8	Amend Articles to Require Disclosure of Retirement Bonuses Paid to Each Retiring Director and Statutory Auditor	Against	For	Shareholder
9	Amend Articles to Require Disclosure of Individual Compensation Levels of Each Director and Statutory Auditor	Against	For	Shareholder

90

MOSCOW CITY TELEPHONE NETWORK

Ticker:		Security ID:  RU0009036461
Meeting Date:  JUN 19, 2004		Meeting Type:  Annual
Record Date:  MAY 3, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory reports	For	For	Management
2	Approve Allocation of Income	For	For	Management
3	Approve Dividends of RUB 1.2132 Per Ordinary Share and RUB 12.1315 Per Preference Share	For	For	Management
4.1	Elect Vladimir Adzhalov as Director	For	For	Management
4.2	Elect Vladimir Akulich as Director	For	For	Management
4.3	Elect Levan Vasadze as Director	For	For	Management
4.4	Elect Alexander Voronets as Director	For	For	Management
4.5	Elect Alexei Goltsov as Director	For	For	Management
4.6	Elect Alexander Goncharuk as Director	For	For	Management
4.7	Elect Sergei Drozdov as Director	For	For	Management
4.8	Elect Elena Zazubova as Director	For	For	Management
4.9	Elect Rashit Zamaldinov as Director	For	For	Management
4.10	Elect Nail Ismailov as Director	For	For	Management
4.11	Elect Vladimir Lagutin as Director	For	For	Management
4.12	Elect Semen Rabovsky as Director	For	For	Management
4.13	Elect Irina Ragozina as Director	For	For	Management
4.14	Elect Viktor Savchenko as Director	For	For	Management
4.15	Elect Sergei Savchenko as Director	For	For	Management
4.16	Elect Mikhail Smirnov as Director	For	For	Management
4.17	Elect Viktor Chervonny as Director	For	For	Management
4.18	Elect Evgeny Yurchenko as Director	For	For	Management
4.19	Elect Valery Yashin as Director	For	For	Management
5	Elect Members of Inspection Committee (Audit Commission)	For	For	Management
6	Appoint Auditor	For	For	Management
7	Adopt New Articles of Association	For	Against	Management
8	Adopt New Edition of Annual General Meeting Bylaws	For	Against	Management
9	Adopt New Edition of the Board of Directors Bylaws	For	Against	Management
10	Adopt New Edition of the Inspection Committee Bylaws	For	Against	Management
11	Adopt New Edition of the Company’s Management Board Bylaws	For	Against	Management
12	Adopt New Edition of the Company’s General Director Bylaws	For	Against	Management

MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG

Ticker:		Security ID:  DE0008430026
Meeting Date:  MAY 26, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	None	Management
2	Approve Allocation of Income and Dividends of EUR 1.25 per Share	For	For	Management
3	Approve Discharge of Management Board	For	For	Management
4	Approve Discharge of Supervisory Board	For	For	Management
5	Elect Ulrich Hartmann, Henning Kagermann, Hubert Merkl, Wolfgang Mayrhuber, Karel van Miert, Heinrich von Pierer, Bernd Pischetsrieder, Hans-Juergen Schinzler, Albrecht Schmidt, and Ron Sommer to the Supervisory Board	For	For	Management
6	Authorize Repurchase of up to Ten Percent of Issued Share Capital	For	For	Management
7	Approve Creation of EUR 280 Million Pool of Conditional Capital with Preemptive Rights	For	For	Management

91

NATIONAL GRID TRANSCO PLC (FORMERLY NATIONAL GRID GROUP PLC, HOLDING CO.)

Ticker:		Security ID:  GB0031223877
Meeting Date:  JULY 21, 2003		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 Final Dividend of 10.34 Pence Per Share	For	Did Not Vote	Management
3	Elect Nick Winser as Director	For	Did Not Vote	Management
4	Elect John Parker as Director	For	Did Not Vote	Management
5	Elect Steve Lucas as Director	For	Did Not Vote	Management
6	Elect John Wybrew as Director	For	Did Not Vote	Management
7	Elect Kenneth Harvey as Director	For	Did Not Vote	Management
8	Elect Stephen Pettit as Director	For	Did Not Vote	Management
9	Elect George Rose as Director	For	Did Not Vote	Management
10	Reelect Steve Holliday as Director	For	Did Not Vote	Management
11	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	For	Did Not Vote	Management
12	Approve Remuneration Report	For	Did Not Vote	Management
13	Authorize 307,722,000 Shares for Share Repurchase Program	For	Did Not Vote	Management

NEDCOR LTD.

Ticker:		Security ID:  ZAE000004875
Meeting Date:  MAY 6, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports for Year Ended Dec. 31, 2003	For	For	Management
2	Approve Award of Capitalization Shares as Dividends	For	For	Management
3	Approve Distribution of Cash Dividends in the Amount of ZAR 2.40 for Shareholders Electing Cash Dividends	For	For	Management
4.1	Reelect C.J.W. Ball as Director	For	For	Management
4.2	Reelect W.A.M. Clewlow as Director	For	For	Management
4.3	Reelect B.E. Davison as Director	For	For	Management
4.4	Reelect M.M. Katz as Director	For	For	Management
4.5	Reelect M.E. Mkwanazi as Director	For	For	Management
4.6	Reelect J.V.F Roberts as Director	For	For	Management
4.7	Reelect J.H. Sutcliffe as Director	For	For	Management
5	Elect Directors Proposed at the Meeting	For	Against	Management
6	Approve Remuneration of Directors for Past Fiscal Year	For	For	Management
7	Ratify Deloitte & Touche and KPMG as Joint Auditors	For	For	Management
8	Authorize Board to Fix Remuneration of the Auditors	For	For	Management
9	Place Authorized But Unissued Shares under Control of Directors	For	For	Management
10	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management

NEDCOR LTD.

Ticker:		Security ID:  ZAE000004875
Meeting Date:  MAR 17, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Increase in Authorized Capital	For	For	Management
2	Place Authorized But Unissued Shares under Control of Directors	For	For	Management
3	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management

92

NESTLE SA

Ticker:  NSRGY		Security ID:  CH0012056047
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1a	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
1b	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of CHF 7.20 per Share	For	Did Not Vote	Management
4a	Elect Edward George as Directors	For	Did Not Vote	Management
4b	Elect Kaspar Villiger as Directors	For	Did Not Vote	Management
4c	Elect Rolf Haenggi as Directors	For	Did Not Vote	Management
4d	Elect Daniel Borel as Directors	For	Did Not Vote	Management
4e	Elect Carolina Mueller as Directors	For	Did Not Vote	Management

NEWCREST MINING LTD.

Ticker:		Security ID:  AU000000NCM7
Meeting Date:  OCT 29, 2003		Meeting Type:  Annual
Record Date:  OCT 27, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2a	Elect Mick O’Leary as Director	For	For	Management
2b	Elect Ian Johnson as Director	For	For	Management
2c	Elect Bryan Davis as Director	For	For	Management
3	Approve Increase in Aggregate Remuneration of Directors in the Amount of AUD 200,000 From AUD 800,000 to AUD 1 Million	For	For	Management

NEWS CORPORATION LTD.

Ticker:  NWS		Security ID:  652487703
Meeting Date:  OCT 15, 2003		Meeting Type:  Annual
Record Date:  OCT 13, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Lachlan Murdoch as Director	For	For	Management
2	Elect Thomas Perkins as Director	For	For	Management
3	Elect Stanley Shuman as Director	For	For	Management
4	Elect Arthur Siskind as Director	For	For	Management
5	Approve Stock Option Plan Grants to Executive Directors	For	Against	Management
6	Approve Remuneration of Directors in the Amount of Up to AUD 1.85 Million	For	For	Management

93

NIDEC CORP.

Ticker:		Security ID:  JP3734800000
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 12.5, Final JY 15, Special JY 2.5	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
4	Appoint Internal Statutory Auditor	For	Against	Management
5	Approve Retirement Bonuses for Directors	For	For	Management

NIPPON TELEGRAPH & TELEPHONE CORP.

Ticker:		Security ID:  JP3735400008
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 2500, Final JY 2500, Special JY 0	For	For	Management
2	Authorize Share Repurchase Program	For	For	Management
3	Amend Articles to: Decrease Authorized Capital from 62.212 Million to 61.93 Million Shares to Reflect Share Repurchase	For	For	Management
4.1	Elect Director	For	For	Management
4.2	Elect Director	For	For	Management
4.3	Elect Director	For	For	Management
4.4	Elect Director	For	For	Management
4.5	Elect Director	For	For	Management
4.6	Elect Director	For	For	Management
4.7	Elect Director	For	For	Management
4.8	Elect Director	For	For	Management
4.9	Elect Director	For	For	Management
4.10	Elect Director	For	For	Management
4.11	Elect Director	For	For	Management
5	Appoint Internal Statutory Auditor	For	For	Management
6	Approve Retirement Bonuses for Directors and Statutory Auditor	For	For	Management

94

NOBIA AB

Ticker:		Security ID:  SE0000949331
Meeting Date:  APR 1, 2004		Meeting Type:  Annual
Record Date:  MAR 22, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Elect Chairman of Meeting	For	For	Management
3	Prepare and Approve List of Shareholders	For	For	Management
4	Approve Agenda of Meeting	For	For	Management
5	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
6	Acknowledge Proper Convening of Meeting	For	For	Management
7	Receive Financial Statements and Statutory Reports	None	None	Management
8	Receive President’s and Chairman’s Reports	None	None	Management
9	Accept Financial Statements and Statutory Reports	For	For	Management
10	Approve Allocation of Income and Dividends of SEK 2.25 Per Share	For	For	Management
11	Approve Discharge of Board and President	For	For	Management
12	Determine Number of Members (8) and Deputy Members (0) of Board	For	For	Management
13	Approve Remuneration of Directors in the Amount of SEK 250,000 for Chairman and SEK 100,000 for Other Board Members; Authorize Directors to Receive Cash Value Equivalent of Market Value of an Aggregate of 2,000 Shares Each (5,000 For Chairman)	For	For	Management
14	Reelect Fredrik Cappelen, Hans Larsson, Wilhelm Lauren, Harald Mix, Thomas Nilsson, and Bodil Eriksson as Directors; Elect Stefan Dahlbo and Ingrid Osmundsen as New Directors	For	For	Management
15.1	Authorize Chairman of Board to Appoint Members of Nominating Committee	For	Against	Management
15.2	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee	Against	For	Shareholder
16	Shareholder Proposal: Authorize Board to Establish an Audit Committee	Against	For	Shareholder
17	Close Meeting	None	None	Management

95

NOKIA CORP.

Ticker:  NKCAF		Security ID:  FI0009000681
Meeting Date:  MAR 25, 2004		Meeting Type:  Annual
Record Date:  MAR 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Receive Financial Statements	None	None	Management
1.2	Receive Auditors’ Report	None	None	Management
1.3	Accept Financial Statements and Statutory Reports	For	For	Management
1.4	Approve Discharge of Board and President	For	For	Management
1.5	Fix Number of Directors at Eight (A Reduction from the Current Nine Directors)	For	For	Management
1.6	Approve Remuneration of Directors and Auditors	For	For	Management
2	Approve Between EUR 5.7 Million and EUR 8.8 Million Reduction in Share Capital via Cancellation of Between 94.5 Million and 146 Million Shares	For	For	Management
3	Approve Issuance of Shares, Stock Options, or Convertible Bonds up to Aggregate Nominal Value of EUR 55.5 Million (Out of Which EUR 3 Million for Incentive Plans) without Preemptive Rights	For	For	Management
4	Authorize Repurchase of Up to 230 Million Nokia Shares	For	For	Management
5	Authorize Reissuance of 230 Million Repurchased Shares	For	For	Management
6	Approve Allocation of EUR 5 Million to Company Foundation to Support the Scientific Development of the Information and Telecommunications Technologies and to Promote Education in the Sector	For	For	Management
7	Approve Dividends of EUR 0.30 Per Share	For	For	Management
8	Reelect Paul Collins, Georg Ehrnrooth, Bengt Holmstroem, Per Karlsson, Jorma Ollila, Marjorie Scardino, Vesa Vainio, and Arne Wessberg	For	For	Management
9	Reelect PricewaterhouseCoopers as Auditors	For	For	Management

NOKIA CORP.

Ticker:  NKCAF		Security ID:  654902204
Meeting Date:  MAR 25, 2004		Meeting Type:  Annual
Record Date:  JAN 30, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	APPROVAL OF THE INCOME STATEMENTS AND THE BALANCE SHEETS.	For	For	Management
2	APPROVAL OF A DIVIDEND OF EUR 0.30 PER SHARE.	For	For	Management
3	APPROVAL OF THE DISCHARGE OF THE CHAIRMAN, THE MEMBERS OF THE BOARD OF DIRECTORS AND THE PRESIDENT FROM LIABILITY.	For	For	Management
4.1	Elect Director Paul J. Collins	For	For	Management
4.2	Elect Director Georg Ehrnrooth	For	For	Management
4.3	Elect Director Bengt Holmstrom	For	For	Management
4.4	Elect Director Per Karlsson	For	For	Management
4.5	Elect Director Jorma Ollila	For	For	Management
4.6	Elect Director Marjorie Scardino	For	For	Management
4.7	Elect Director Vesa Vainio	For	For	Management
4.8	Elect Director Arne Wessberg	For	For	Management
5	Ratify Auditors	For	For	Management
6	APPROVAL OF THE PROPOSAL OF THE BOARD TO REDUCE THE SHARE CAPITAL THROUGH CANCELLATION OF NOKIA SHARES HELD BY THE COMPANY	For	For	Management
7	APPROVAL OF THE AUTHORIZATION TO THE BOARD TO INCREASE THE SHARE CAPITAL OF THE COMPANY.	For	For	Management
8	APPROVAL OF THE AUTHORIZATION TO THE BOARD TO REPURCHASE NOKIA SHARES.	For	For	Management
9	APPROVAL OF THE AUTHORIZATION TO THE BOARD TO DISPOSE NOKIA SHARES HELD BY THE COMPANY.	For	For	Management
10	APPROVAL OF THE PROPOSAL OF THE BOARD TO INCREASE THE CAPITAL OF THE FOUNDATION OF NOKIA CORPORATION.	For	For	Management
11	MARK THE FOR BOX IF YOU WISH TO INSTRUCT THE DEPOSITARY TO GIVE A PROXY TO ANY ONE OF MARIANNA UOTINEN-TARKOMA, ESA KAUNISTOLA, BOTH LEGAL COUNSELS OF NOKIA CORPORATION, TO AUTHORIZE ANY OF THEM (WITH FULL POWER OF SUBSTITUTION) TO VOTE, IN THEIR DISCR	None	Against	Management

96

NOMURA HOLDINGS INC.

Ticker:  NSLJ10		Security ID:  JP3762600009
Meeting Date:  JUN 25, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
2	Approve Executive Stock Option Plan and Deep-Discount Stock Option Plan	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management

NORSK HYDRO ASA

Ticker:  NHY		Security ID:  NO0005052605
Meeting Date:  JAN 15, 2004		Meeting Type:  Special
Record Date:  JAN 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve NOK 52.8 Million Reduction in Share Capital via Share Cancellation	For	For	Management
2	Approve Spin-Off of Norsk Hydro ASA’s Fertilizer Business Agri into AgriHold ASA; Approve NOK 448.7 Million Reduction in Share Capital in Connection with Spin-Off	For	For	Management
3	Authorize General Meeting to Appoint Five Directors to AgriHold’s Board	For	For	Management
4	Authorize General Meeting to Appoint Four Members of Election Committee of AgriHold	For	For	Management
5	Authorize AgriHydro to Create Pool of Conditional Capital	For	For	Management

97

NORSK HYDRO ASA

Ticker:  NHY		Security ID:  NO0005052605
Meeting Date:  MAY 11, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Allocation of Income and Dividends of NOK 11 Per Share	For	For	Management
2	Approve Remuneration of Auditors	For	For	Management
3	Amend Articles Re: Reduce Number of Members in the Corporate Assembly from 21 to 18	For	For	Management
4	Elect Members and Deputy Members of Corporate Assembly	For	For	Management
5	Approve Remuneration of Members and Deputy Members of Corporate Assembly	For	For	Management
6	Authorize Repurchase of Up to Five Million Issued Shares	For	For	Management
7	Shareholder Proposal: Prohibit President and CEO to Participate in Bonus Schemes	None	Against	Shareholder

NOVARTIS AG

Ticker:  NVS		Security ID:  CH0012005267
Meeting Date:  FEB 24, 2004		Meeting Type:  Annual
Record Date:  FEB 4, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Discharge of the Board and Senior Management	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of CHF 1.00 per Share	For	Did Not Vote	Management
4	Approve Transfer of CHF 360.9 Million from General Reserves to Free Reserves	For	Did Not Vote	Management
5	Approve CHF 12.1 Million Reduction in Share Capital via Share Cancellation	For	Did Not Vote	Management
6	Authorize Repurchase of up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
7	Amend Articles Re: Reduce Board Terms from Four to Three Years	For	Did Not Vote	Management
8.1	Approve Resignation of Walter Frehner and Heini Lippuner	For	Did Not Vote	Management
8.2	Elect Helmut Sihler, Hans-Joerg Rudloff and Daniel Vasella as Directors	For	Did Not Vote	Management
9	Ratify PricewaterhouseCoopers AG as Auditors	For	Did Not Vote	Management

98

NTT DOCOMO INC.

Ticker:		Security ID:  JP3165650007
Meeting Date:  JUN 18, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 500, Final JY 500, Special JY 500	For	For	Management
2	Authorize Share Repurchase Program	For	For	Management
3	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	Against	Management
4.1	Elect Director	For	For	Management
4.2	Elect Director	For	For	Management
4.3	Elect Director	For	For	Management
4.4	Elect Director	For	For	Management
4.5	Elect Director	For	For	Management
4.6	Elect Director	For	For	Management
4.7	Elect Director	For	For	Management
4.8	Elect Director	For	For	Management
4.9	Elect Director	For	For	Management
4.10	Elect Director	For	For	Management
4.11	Elect Director	For	For	Management
4.12	Elect Director	For	For	Management
4.13	Elect Director	For	For	Management
4.14	Elect Director	For	For	Management
4.15	Elect Director	For	For	Management
4.16	Elect Director	For	For	Management
4.17	Elect Director	For	For	Management
4.18	Elect Director	For	For	Management
4.19	Elect Director	For	For	Management
4.20	Elect Director	For	For	Management
4.21	Elect Director	For	For	Management
4.22	Elect Director	For	For	Management
4.23	Elect Director	For	For	Management
4.24	Elect Director	For	For	Management
4.25	Elect Director	For	For	Management
5	Appoint Internal Statutory Auditor	For	For	Management
6	Approve Retirement Bonuses for Directors and Statutory Auditor	For	Against	Management

NUMICO N.V.(FORMERLY NUTRICIA N.V.)

Ticker:		Security ID:  NL0000375558
Meeting Date:  SEP 23, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2.1	Elect P. Wold-Olsen to Supervisory Board	For	Did Not Vote	Management
2.2	Elect H. Lindenbergh to Supervisory Board	For	Did Not Vote	Management
3	Discussion on Possible Measures to Be Taken Due to Negative Shareholders’ Equity in Accordance with Article 2:108A of Dutch Civil Code	None	Did Not Vote	Management
4	Close Meeting	None	Did Not Vote	Management

99

OMV AG

Ticker:  OMVZY		Security ID:  AT0000743059
Meeting Date:  MAY 18, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
4	Approve Remuneration of Directors	For	Did Not Vote	Management
5	Ratify Auditors	For	Did Not Vote	Management
6	Authorize Repurchase of Issued Share Capital for Issuance to Management Board Members and Key Employees	For	Did Not Vote	Management
7	Approve Restructuring Plan	For	Did Not Vote	Management
8	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 600 Million without Preemptive Rights; Approve Creation of Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
9	Approve Creation of EUR 21.8 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management
10	Approve Creation of EUR 58.2 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management
11	Amend Articles to Reflect Changes in Capital	For	Did Not Vote	Management
12	Approve Supervisory Board Liability and Indemnification	For	Did Not Vote	Management
13	Elect Supervisory Board Members	For	Did Not Vote	Management

100

ORBIS S.A

Ticker:		Security ID:  PLORBIS00014
Meeting Date:  DEC 17, 2003		Meeting Type:  Special
Record Date:  DEC 10, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
3	Elect Meeting Chairman	For	Did Not Vote	Management
4	Approve Establishing Blanket Mortgage on Real Estate Owned by Three Company Branches	For	Did Not Vote	Management
5	Approve Changes in Composition of Supervisory Board	For	Did Not Vote	Management
6	Close Meeting	None	Did Not Vote	Management

ORBIS S.A

Ticker:		Security ID:  PLORBIS00014
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual
Record Date:  JUN 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting and Elect Meeting Chairman	For	Did Not Vote	Management
2	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
3	Elect Members of Election Committee	For	Did Not Vote	Management
4a	Receive Financial Statements and Board Report	None	Did Not Vote	Management
4b	Receive Consolidated Financial Statements and Board Report	None	Did Not Vote	Management
5	Approve Board Report	For	Did Not Vote	Management
6	Approve Financial Statements	For	Did Not Vote	Management
7	Approve Allocation of Income	For	Did Not Vote	Management
8	Approve Covering of Losses	For	Did Not Vote	Management
9	Approve Consolidated Financial Statements and Board Report	For	Did Not Vote	Management
10	Approve Discharge of Management Board	For	Did Not Vote	Management
11	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
12	Cancel Right to Perpetual Lease of Land in Krakow (Przybyszewski Street)	For	Did Not Vote	Management
13	Approve Sale of Perpetual Lease of Land (including Former Hotel Sofitel) in Krakow (28 Konopnicka Street)	For	Did Not Vote	Management
14	Accept Results of Elections of Three Employee Representatives to Supervisory Board	For	Did Not Vote	Management
15	Elect Supervisory Board	For	Did Not Vote	Management
16	Close Meeting	None	Did Not Vote	Management

101

ORBIS S.A

Ticker:		Security ID:  PLORBIS00014
Meeting Date:  SEP 11, 2003		Meeting Type:  Special
Record Date:  SEP 4, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting; Elect Chairman of Meeting	None	Did Not Vote	Management
2	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
3	Elect Members of Election Committee	For	Did Not Vote	Management
4	Approve Issuance of Bonds/Debentures	For	Did Not Vote	Management
5	Close Meeting	None	Did Not Vote	Management

ORIFLAME COSMETICS S.A.

Ticker:		Security ID:  SE0001174889
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Reports of the Directors and Statutory Auditor as of December 31, 2003	For	Did Not Vote	Management
2	Approve Balance Sheet and Profit and Loss Statement as of December 31, 2003	For	Did Not Vote	Management
3	Approve Allocation of EUR 5,312 to Legal Reserve; Approve Allocation of Remaing Results to Carry-Forward Profit Reserve	For	Did Not Vote	Management
4	Approve Discharge of Directors and Auditors	For	Did Not Vote	Management
5	Ratify the Appointment of B. Johansson-Hedberg as Director	For	Did Not Vote	Management
5a1	Elect R. af Jochnick as Director	For	Did Not Vote	Management
5a2	Elect J. af Jochnick as Director	For	Did Not Vote	Management
5a3	Elect C. Salamon as Director	For	Did Not Vote	Management
5a4	Elect B. Braun as Director	For	Did Not Vote	Management
5a5	Elect B. Eriksson as Director	For	Did Not Vote	Management
5a6	Elect K. Wahl as Director	For	Did Not Vote	Management
5a7	Elect S. Mattson as Director	For	Did Not Vote	Management
5a8	Elect B. Johansson-Hedberg as Director	For	Did Not Vote	Management
5b	Ratify Marc Hoydonckx as Auditor	For	Did Not Vote	Management
6	Amend Articles to Reflect Changes in Capital	For	Did Not Vote	Management
7	Amend Articles re: Annual Meeting Date	For	Did Not Vote	Management
8	Other Business (Voting)	For	Did Not Vote	Management

102

OTP BANK RT

Ticker:		Security ID:  HU0000061726
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:  APR 19, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Directors’ Report on Bank’s 2003 Business Activities and Financial Statements	For	Did Not Vote	Management
2	Approve Supervisory Board’s Report	For	Did Not Vote	Management
3	Approve Auditor’s Report	For	Did Not Vote	Management
4	Approve Directors’ Report on Bank’s Business Policy for 2004	For	Did Not Vote	Management
5	Approve Auditors and Fix Their Remuneration	For	Did Not Vote	Management
6	Elect Supervisory Board Member (Employee Representative)	For	Did Not Vote	Management
7	Approve Remuneration of Management and Supervisory Board Members	For	Did Not Vote	Management
8	Amend Articles of Association	For	Did Not Vote	Management
9	Authorize Share Repurchase Program	For	Did Not Vote	Management

PEARSON PLC

Ticker:  PSO		Security ID:  GB0006776081
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	Approve Final Dividend of 14.8 Pence Per Share	For	For	Management
3	Re-elect Dennis Stevenson as Director	For	For	Management
4	Re-elect John Makinson as Director	For	For	Management
5	Re-elect Reuben Mark as Director	For	For	Management
6	Re-elect Vernon Sankey as Director	For	For	Management
7	Approve Remuneration Report	For	For	Management
8	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For	Management
9	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
10	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 66,871,000	For	For	Management
11	Approve Increase in Authorised Capital from GBP 294,500,000 to GBP 295,500,000 by the Creation of 4 Million Ordinary Shares of 25 Pence Each	For	For	Management
12	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 10,030,000	For	For	Management
13	Authorise 80 Million Ordinary Shares for Market Purchase	For	For	Management
14	Adopt New Articles of Association	For	For	Management
15	Amend Pearson plc UK Worldwide Save for Shares Plan	For	For	Management

103

PERNOD RICARD

Ticker:		Security ID:  FR0000120693
Meeting Date:  MAY 17, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Consolidated Financial Statements, Statutory Reports and Discharge Directors	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of EUR 1.96 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Reelect Patrick Ricard as Director	For	Did Not Vote	Management
6	Elect Richard Burrows as Director	For	Did Not Vote	Management
7	Elect Pierre Pringuet as Director	For	Did Not Vote	Management
8	Ratify Mazars & Guerard as Auditors	For	Did Not Vote	Management
9	Ratify Patrick de Cambourg as Alternate Auditor	For	Did Not Vote	Management
10	Approve Expiration of Term of Salustro Reydel as Alternate Auditor	For	Did Not Vote	Management
11	Approve Remuneration of Directors in the Aggregate Amount of EUR 864,450	For	Did Not Vote	Management
12	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
13	Authorize Issuance of Bonds/Debentures in the Aggregate Nominal Value of Up to EUR 3 Billion	For	Did Not Vote	Management
14	Change Fiscal Year End to June 30 and Amend Articles Accordingly	For	Did Not Vote	Management
15	Amend Articles of Association Re: Board Size and Terms of Directors	For	Did Not Vote	Management
16	Amend Articles of Association to Reflect 2003 Legal Changes Re: Role of Chairman, Access to Information, Related-Party Transactions, and Auditor Attendance at Board Meetings	For	Did Not Vote	Management
17	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
18	Approve Stock Option Plan Grants	For	Did Not Vote	Management
19	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 200 Million	For	Did Not Vote	Management
20	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 200 Million	For	Did Not Vote	Management
21	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer, Subject to Certain Conditions	For	Did Not Vote	Management
22	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

104

PETER HAMBRO MINING PLC

Ticker:		Security ID:  GB0031544546
Meeting Date:  MAY 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Elect Peter Hill-Wood as Director	For	For	Management
3	Re-elect Peter Hambro as Director	For	For	Management
4	Re-elect Sir Rudolph Agnew as Director	For	For	Management
5	Re-appoint Moore Stephens as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
6	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 360,014	For	For	Management
7	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights Pursuant to the Terms of Any Share Option Scheme and Otherwise up to GBP 63,998	For	For	Management
8	Authorise 6,399,800 Ordinary Shares for Market Purchase	For	For	Management

PETER HAMBRO MINING PLC

Ticker:		Security ID:  GB0031544546
Meeting Date:  JUN 7, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 360,014 and without Pre-emptive Rights Pursuant to Placing and Otherwise up to an Aggregate Nominal Amount of GBP 110,998	For	For	Management

105

PETRO-CANADA

Ticker:  PCA.		Security ID:  CA71644E1025
Meeting Date:  APR 27, 2004		Meeting Type:  Annual/Special
Record Date:  MAR 11, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Ron A. Brenneman	For	For	Management
1.2	Elect Director Angus A. Bruneau	For	For	Management
1.3	Elect Director Gail Cook-Bennett	For	For	Management
1.4	Elect Director Richard J. Currie	For	For	Management
1.5	Elect Director Claude Fontaine	For	For	Management
1.6	Elect Director Paul Haseldonckx	For	For	Management
1.7	Elect Director Thomas E. Kierans	For	For	Management
1.8	Elect Director Brian F. MacNeill	For	For	Management
1.9	Elect Director Maureen McCaw	For	For	Management
1.10	Elect Director Paul D. Melnuk	For	For	Management
1.11	Elect Director Guylaine Saucier	For	For	Management
1.12	Elect Director William W. Siebens	For	Withhold	Management
2	Ratify Deloitte & Touche LLP as Auditors	For	For	Management
3	Amend Stock Option Plan	For	For	Management
4	Prepare Report - Evaluation of Market Opportunities in Wind, Solar, and Other Renewable Sources of Energy	Against	For	Shareholder
5	Issue Report - Specific Emission Reduction Initiatives	Against	For	Shareholder

PHILIPPINE LONG DISTANCE TELEPHONE CO.

Ticker:  PHI		Security ID:  PH7182521093
Meeting Date:  JUN 8, 2004		Meeting Type:  Annual
Record Date:  APR 9, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Call to Order	For	For	Management
2	Certification of Notice and Quorum	For	For	Management
3	President’s Report	For	For	Management
4	Approve Annual Report of Management	For	For	Management
5	Elect Directors	For	For	Management
6	Other Business	For	Against	Management

106

PHILIPS ELECTRONICS NV

Ticker:  PHG		Security ID:  NL0000009538
Meeting Date:  MAR 25, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2.1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2.2	Receive Explanation of Corporate Governance Structure	None	Did Not Vote	Management
2.3	Receive Explanation of Policy on Reserves and Dividends	None	Did Not Vote	Management
2.4	Approve Dividends of EUR 0.36 Per Share	For	Did Not Vote	Management
2.5	Approve Discharge of Management Board	For	Did Not Vote	Management
2.6	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
3.1	Reelect Elect K. van Miert to Supervisory Board	For	Did Not Vote	Management
3.2	Elect E. Kist as New Member of Supervisory Board	For	Did Not Vote	Management
4.1	Approve Remuneration Policy of Management Board	For	Did Not Vote	Management
4.2	Amend 2003 Long-Term Incentive Plan Regarding Distribution of Shares: Allocate a Maximum of 2.5 Percent of Annual Pool of Shares Reserved for LTIP to Management Board on Annual Basis	For	Did Not Vote	Management
5	Grant Board Authority to Issue Shares Restricting/Excluding Preemptive Rights Up to 20 Percent of Issued Capital	For	Did Not Vote	Management
6	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
7	Authorize Board to Set Record Date	For	Did Not Vote	Management
8	Other Business (Non-Voting)	None	Did Not Vote	Management
9	Close Meeting	None	Did Not Vote	Management

PORTUGAL TELECOM, SGPS, S.A.

Ticker:  PT		Security ID:  PTPTC0AM0009
Meeting Date:  APR 2, 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	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income	For	Did Not Vote	Management
4	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
5	Ratify Appointment of Board Members	For	Did Not Vote	Management
6	Authorize Repurchase of Shares and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Approve EUR 125.4 Million Reduction in Share Capital via Cancellation of 125.4 Million Shares	For	Did Not Vote	Management
8	Authorize Issuance of Convertible Bonds without Preemptive Rights	For	Did Not Vote	Management
9	Eliminate Preemptive Rights in Connection with Proposed Issuance of Convertible Bonds	For	Did Not Vote	Management
10	Authorize Issuance of Bonds or Other Securities	For	Did Not Vote	Management
11	Approve Bond Repurchase and Reissuance	For	Did Not Vote	Management

107

PROMOTORA DE INFORMACIONES (FRMELY GRUPO PRISA)

Ticker:		Security ID:  ES0171743117
Meeting Date:  APR 15, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Individual and Consolidated Financial Statements; Allocation of Income	For	For	Management
2	Approve Discharge of Board of Directors	For	For	Management
3	Approve Auditors	For	For	Management
4	Elect Management Board	For	For	Management
5	Amend Articles Re: Legal Provisions Governing the Company, Competencies, General Meeting, Number of Members and Duties, Audit Committee, Substitutions and Appointments, and Legal Compliance	For	For	Management
6	Approve General Meeting Guidelines	For	For	Management
7	Approve Stock Option Plan For Executive Directors and Managers	For	For	Management
8	Authorize Repurchase of Shares	For	For	Management
9	Accept Report Re: Board of Directors’ Guidelines	For	For	Management
10	Authorize Board to Ratify and Execute Approved Resolutions	For	For	Management

PROSIEBEN SAT.1 MEDIA AG (FRMLY PROSIEBEN MEDIA AG)

Ticker:		Security ID:  DE0007771172
Meeting Date:  MAY 7, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Creation of EUR 97.2 Million Pool of Conditional Capital with Preemptive Rights	For	Did Not Vote	Management

PT BANK MANDIRI (PERSERO) TBK

Ticker:		Security ID:  ID1000095003
Meeting Date:  MAY 5, 2004		Meeting Type:  Annual
Record Date:  APR 20, 2004
#	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	Approve Ernst & Young as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
4	Approve Remuneration of Commissioners	For	For	Management
5	Elect Commissioners	For	For	Management
6	Report on Structure of Audit Committee	For	For	Management

108

PT INDOFOOD SUKSES MAKMUR

Ticker:		Security ID:  ID1000057003
Meeting Date:  JUN 25, 2004		Meeting Type:  Special
Record Date:  JUN 9, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles of Association	For	Against	Management

PT INDOFOOD SUKSES MAKMUR

Ticker:		Security ID:  ID1000057003
Meeting Date:  JUN 25, 2004		Meeting Type:  Annual
Record Date:  JUN 9, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Directors’ Report	For	For	Management
2	Accept Financial Statements and Statutory Reports	For	For	Management
3	Approve Allocation of Income	For	For	Management
4	Approve Ernst & Young as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
5	Elect Directors and Commissioners	For	For	Management

PT SEMEN GRESIK

Ticker:		Security ID:  ID1000072705
Meeting Date:  JUN 30, 2004		Meeting Type:  Annual
Record Date:  JUN 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Allocation of Income and Dividends of IDR 115.03 Per Share	For	For	Management
3	Approve PricewaterhouseCoopers as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management
4	Transact Other Business (Voting)	For	Against	Management

PT TELEKOMUNIKASI INDONESIA

Ticker:  TLK		Security ID:  ID1000057904
Meeting Date:  MAR 10, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Replacement of Annual Report and Consolidated Financial Statements for FY 2002	For	Against	Management
2	Approve Annual Report 2002 and Ratification of Consolidated Financial Statement 2002	For	Against	Management
3	Ratify Restated Consolidated Financial Statement for FY 2000 and FY 2001	For	Against	Management
4	Approve Restatement of Net Income Allocation for FY 2000, FY 2001 and FY 2002	For	Against	Management
5	Elect Directors and Commissioners	For	For	Management

109

PUMA (RUDOLF DASSLER SPORT)

Ticker:  PMMRY		Security ID:  DE0006969603
Meeting Date:  APR 20, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 0.70 per Share	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
5	Ratify PricewaterhouseCoopers GmbH as Auditors	For	Did Not Vote	Management
6	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
7	Approve Decrease in Size of Supervisory Board to Six Members (Whereof Four Shareholder Representatives and Two Employee Representatives)	For	Did Not Vote	Management

RANK GROUP PLC

Ticker:  RANKY		Security ID:  GB0007240764
Meeting Date:  APR 27, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 9.3 Pence Per Ordinary Share	For	For	Management
4	Re-elect Peter Jarvis as Director	For	For	Management
5	Re-elect Alun Cathcart as Director	For	For	Management
6	Reappoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For	Management
7	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
8	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 21,960,000	For	For	Management
9	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 2,980,850	For	For	Management
10	Authorise 89,442,000 Ordinary Shares for Market Purchase	For	For	Management
11	Approve Scrip Dividend	For	For	Management

110

RECKITT BENCKISER PLC (FORMERLY RECKITT & COLMAN PLC )

Ticker:		Security ID:  GB0007278715
Meeting Date:  MAY 13, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 14 Pence Per Ordinary Share	For	For	Management
4	Re-elect George Greener as Director	For	For	Management
5	Re-elect Peter White as Director	For	For	Management
6	Re-elect Colin Day as Director	For	For	Management
7	Elect Judith Sprieser as Director	For	For	Management
8	Elect Kenneth Hydon as Director	For	For	Management
9	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
10	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 24,842,000	For	For	Management
11	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 3,726,000	For	For	Management
12	Authorise 70,800,000 Ordinary Shares for Market Purchase	For	For	Management

RED ELECTRICA DE ESPANA

Ticker:		Security ID:  ES0173093115
Meeting Date:  JULY 16, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles Re: Corporate Purpose, Share Capital, Shareholder Rights, General Meetings, Quorums, Board of Directors, Audit Committee, External Auditors, and Conflict Resolution	For	Did Not Vote	Management
2	Approve General Meeting Guidelines	For	Did Not Vote	Management
3	Fix Number of Directors	For	Did Not Vote	Management
4	Elect Directors	For	Did Not Vote	Management
5	Authorize Board to Ratify and Execute Approved Resolutions	For	Did Not Vote	Management

REED ELSEVIER PLC(FORMERLY REED INTERNATIONAL PLC)

Ticker:  RUK		Security ID:  GB0007308355
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1a	Accept Financial Statements and Statutory Reports	For	For	Management
1b	Approve Remuneration Report	For	For	Management
2	Approve Final Dividend of 8.7 Pence Per Ordinary Share	For	For	Management
3a	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For	Management
3b	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
4a	Re-elect Gerard van de Aast as Director	For	For	Management
4b	Re-elect Morris Tabaksblat as Director	For	For	Management
4c	Re-elect Rolf Stomberg as Director	For	For	Management
4d	Re-elect Lord Sharman Of Redlynch as Director	For	For	Management
5	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 25,000,000	For	For	Management
6	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 7,900,000	For	For	Management
7	Authorise 127 Million Shares for Market Purchase	For	For	Management

111

RENAULT

Ticker:		Security ID:  FR0000131906
Meeting Date:  APR 16, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Financial Statements and Discharge Directors	For	Did Not Vote	Management
3	Approve Allocation of Income and Net Dividends of EUR 1.40 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Reelect Francois de Combret as Director	For	Did Not Vote	Management
6	Reelect Bernard Larrouturou as Director	For	Did Not Vote	Management
7	Elect Jean-Louis Girodolle as Director	For	Did Not Vote	Management
8	Elect Itaru Koeda as Director	For	Did Not Vote	Management
9	Elect Francois Pinault as Director	For	Did Not Vote	Management
10	Approve Discharge of Yoshikazu Hanawa	For	Did Not Vote	Management
11	Approve Discharge of Bruno Bezard	For	Did Not Vote	Management
12	Approve Discharge of Jeanne Seyvet	For	Did Not Vote	Management
13	Confirm Receipt of Special Auditors’ Report Regarding Remuneration of Participating Stock	For	Did Not Vote	Management
14	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
15	Authorize Issuance of Bonds/Debentures in the Aggregate Amount of EUR 4 Billion	For	Did Not Vote	Management
16	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
17	Maintain Authority to Issue Equity and Equity-Linked Securities without Preemptive Rights Submitted to Shareholder Vote on April 29, 2003, to Increase Capital by Up to EUR 300 Million	For	Did Not Vote	Management
18	Amend Articles of Association to Increase the Number of Directors to Be Elected by Shareholders	For	Did Not Vote	Management
19	Amend Articles of Association to Reflect Financial Security Legislation Re: Shareholding Disclosure Requirement	For	Did Not Vote	Management
20	Elect Charles de Croisset as Director	For	Did Not Vote	Management
21	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

112

RICHEMONT (COMPAGNIE FINANCIERE RICHEMONT AG)

Ticker:		Security ID:  CH0012731458
Meeting Date:  SEP 17, 2003		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 and Omission of Dividends	For	Did Not Vote	Management
3	Approve Discharge of Management Board	For	Did Not Vote	Management
4	Reelect Rupert, Aeschimann, Cologni, Du Plessis, Deschuyteneer, Douro, Istel, Kanoui, Quasha, Lord Renwick of Clifton, and Verloop as Directors; Elect Alan Perrin, Simon Murray, and Juergen Schrempp as New Directors	For	Did Not Vote	Management
5	Reelect PwC as Auditors	For	Did Not Vote	Management

RICHTER GEDEON RT

Ticker:		Security ID:  HU0000067624
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:  APR 19, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Directors’ Report on 2003 Business Activities of Company	For	Did Not Vote	Management
2	Approve Auditors’ Report	For	Did Not Vote	Management
3	Approve Supervisory Board’s Report	For	Did Not Vote	Management
4	Approve Allocation of Income	For	Did Not Vote	Management
5	Approve Financial Statements and Annual Report	For	Did Not Vote	Management
6	Receive Directors’ Report on 2003 Business Activities of Richter Group and Consolidated Financial Statements	None	Did Not Vote	Management
7	Receive Auditors’ Report on Consolidated Financial Statements	None	Did Not Vote	Management
8	Receive Supervisory Board’s Report on Consolidated Financial Statements	None	Did Not Vote	Management
9	Approve Consolidated Financial Statements	For	Did Not Vote	Management
10	Approve 2003 Financial Statements and Consolidated Financial Statements Prepared in Accordance with IAS Standards	For	Did Not Vote	Management
11	Approve Applications Submitted to Company by Preference Shareholders for Conversion of Preference Shares into Ordinary Shares	For	Did Not Vote	Management
12	Approve Introduction of Ordinary Shares Converted from Preference Shares to Budapest Stock Exchange and Luxembourg Stock Exchange	For	Did Not Vote	Management
13	Authorize Share Repurchase Program	For	Did Not Vote	Management
14	Amend Articles of Association (Statutes)	For	Did Not Vote	Management
15	Approve Consolidated Text of Company’s Statutes	For	Did Not Vote	Management
16	Elect Directors	For	Did Not Vote	Management
17	Approve Remuneration of Directors and Supervisory Board Members	For	Did Not Vote	Management
18	Approve Proposal on Appreciation of Board of Directors’ Activities in 2003	For	Did Not Vote	Management
19	Elect Supervisory Board Members	For	Did Not Vote	Management
20	Approve Remuneration of Supervisory Board Members	For	Did Not Vote	Management
21	Elect Statutory Auditor	For	Did Not Vote	Management
22	Approve Remuneration of Statutory Auditor	For	Did Not Vote	Management
23	Other Business	For	Did Not Vote	Management

113

ROYAL & SUN ALLIANCE INSURANCE GROUP(FORMERLY SUN ALLIANCE GROU

Ticker:		Security ID:  GB0006616899
Meeting Date:  MAY 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Final Dividend of 2.9 Pence Per Ordinary Share	For	For	Management
3	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
4	Elect Edward Lea as Director	For	For	Management
5	Elect John Maxwell as Director	For	For	Management
6	Elect Noel Harwerth as Director	For	For	Management
7	Elect Malcolm Le May as Director	For	For	Management
8	Elect George Culmer as Director	For	For	Management
9	Approve Remuneration Report	For	For	Management
10	Approve the Royal Sun and Alliance Insurance Group Plc Share Matching Plan	For	For	Management
11	Authorise EU Political Donations up to Aggregate Nominal Amount of GBP 100,000 and Incur EU Political Expenditure up to Aggregate Nominal Amount of GBP 100,000	For	For	Management
12	Amend Articles of Association Re: Electronic Communication	For	For	Management
13	Authorise Directors to Establish a Scrip Dividend Scheme	For	For	Management
14	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 439,023,157	For	For	Management
15	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 39,603,474	For	For	Management
16	Authorise 288,025,262 Ordinary Shares for Market Purchase	For	For	Management

114

ROYAL BANK OF SCOTLAND GROUP PLC

Ticker:  RBS		Security ID:  GB0007547838
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 Remuneration Report	For	For	Management
3	Approve Final Dividend of 35.7 Pence Per Share	For	For	Management
4	Re-elect Emilio Botin as Director	For	For	Management
5	Re-elect Lawrence Fish as Director	For	For	Management
6	Re-elect Sir Angus Grossart as Director	For	For	Management
7	Re-elect Sir George Mathewson as Director	For	For	Management
8	Re-elect Gordon Pell as Director	For	For	Management
9	Re-elect Iain Robertson as Director	For	For	Management
10	Re-elect Sir Iain Vallance as Director	For	For	Management
11	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For	Management
12	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
13	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 247,120,127	For	For	Management
14	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 37,068,019	For	For	Management
15	Authorise 296,544,152 Ordinary Shares for Market Purchase	For	For	Management
16	Approve Increase in Authorised Capital by Creation of 110 Million Category II Non-cumulative Dollar Preference Shares; Issue Equity with Pre-emptive Rights up to All the Existing Preference Shares	For	For	Management
17	Amend Articles Re: Preference Shares	For	For	Management

115

ROYAL DUTCH PETROLEUM CO.

Ticker:  RD		Security ID:  NL0000009470
Meeting Date:  JUN 28, 2004		Meeting Type:  Annual
Record Date:  JUN 21, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Report of Management Board	None	Did Not Vote	Management
2.1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2.2	Approve Total Dividend of EUR 1.76 Per Share	For	Did Not Vote	Management
2.3	Approve Discharge of Management Board	For	Did Not Vote	Management
2.4	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
3	Elect L. Cook to Management Board	For	Did Not Vote	Management
4	Elect C. Morin-Postel to Supervisory Board	For	Did Not Vote	Management
5	Reelect van de Bergh to Supervisory Board	For	Did Not Vote	Management
6	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management

SAIPEM

Ticker:		Security ID:  IT0000068525
Meeting Date:  APR 28, 2004		Meeting Type:  Annual/Special
Record Date:  APR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements, Consolidated Accounts, Statutory Reports, and Allocation of Income	For	Did Not Vote	Management
2	Authorize Board to Repurchase Up To 2.46 Million Shares	For	Did Not Vote	Management
3	Authorize Board to Reissue Repurchased Shares in Connection with Stock Grants and Stock Options Plans to Employees	For	Did Not Vote	Management
4	Elect External Auditors for the Three-Year Term 2004-2006 and Fix Remuneration of Auditors	For	Did Not Vote	Management
5	Amend Rules Governing General Meetings	For	Did Not Vote	Management
1	Amend Articles of Association, In Part To Reflect New Italian Company Law Regulations	For	Did Not Vote	Management

SAN MIGUEL CORP.

Ticker:		Security ID:  PH7990854025
Meeting Date:  APR 20, 2004		Meeting Type:  Annual
Record Date:  FEB 17, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Management Nominees as Directors	For	For	Management
2	Approve Minutes of the 2003 Shareholder Meeting	For	For	Management
3	Approve Annual Report of the Company for the Year Ended Dec. 31, 2003	For	For	Management
4	Ratify All Acts of the Board of Directors and Officers Since the 2003 Annual Stockholders’ Meeting	For	For	Management
5	Appoint Sycip Gorres Velayo & Co as Auditors and Authorize Board to Fix Their Remuneration	For	For	Management

116

SANOFI-SYNTHELABO (FORMERLY SANOFI)

Ticker:		Security ID:  FR0000120578
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of EUR 1.53 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
6	Authorize Issuance of Bonds/Debentures in the Aggregate Value of EUR 7 Billion	For	Did Not Vote	Management
7	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million; Set Global Limit for Capital Increase to Result from Issuance Requests in Items 7-10 at EUR 1.25 Billion	For	Did Not Vote	Management
8	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 750 Million	For	Did Not Vote	Management
9	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did NotVote	Management
10	Authorize Capitalization of Reserves of Up to EUR 500 Million for Bonus Issue or Increase in Par Value	For	Did Not Vote	Management
11	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management
12	Approve Stock Option Plan Grants	For	Did Not Vote	Management
13	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
14	Authorize Capital Increase of Up to EUR 1.429 Billion for Aventis Exchange Offer	For	Did Not Vote	Management
15	Change Company Name to Sanofi-Aventis	For	Did Not Vote	Management
16	Amend Articles of Association to Reduce Term of Board Members from Five to Four Years	For	Did Not Vote	Management
17	Amend Articles to Reflect 2003 Legal Changes Re: Powers of the Chairman	For	Did Not Vote	Management
18	Reelect Jean-Francois Dehecq as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
19	Reelect Rene Barbier de la Serre as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
20	Reelect Robert Castaigne as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
21	Reelect Thierry Desmarest as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
22	Reelect Lindsay Owen-Jones as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
23	Reelect Bruno Weymuller as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
24	Confirm Appointment of Lord Douro as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
25	Confirm Appointment of Gerard Van Kemmel as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
26	Elect Christian Mulliez as Director (Representing Sanofi-Synthelabo)	For	Did Not Vote	Management
27	Elect Jean-Marc Bruel as Director (Representing Aventis)	For	Did Not Vote	Management
28	Elect Jurgen Dormann as Director (Representing Aventis)	For	Did Not Vote	Management
29	Elect Jean-Rene Fourtou as Director (Representing Aventis)	For	Did Not Vote	Management
30	Elect Serge Kampf as Director (Representing Aventis)	For	Did Not Vote	Management
31	Elect Igor Landau as Director (Representing Aventis)	For	Did Not Vote	Management
32	Elect Hubert Markl as Director (Representing Aventis)	For	Did Not Vote	Management
33	Elect Klaus Pohle as Director (Representing Aventis)	For	Did Not Vote	Management
34	Elect Hermann Scholl as Director (Representing Aventis)	For	Did Not Vote	Management
35	Confirm End of Term of Permanent Representative of Elf Aquitaine, L’Oreal, Pierre Castres Saint-Martin, Pierre-Gilles de Gennes, and Herve Guerin as Directors	For	Did Not Vote	Management
36	Approve Remuneration of Directors in the Aggregate Amount of Up to EUR 1 Million	For	Did Not Vote	Management
37	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

117

SBERBANK OF RUSSIA

Ticker:		Security ID:  RU0009029540
Meeting Date:  JUN 18, 2004		Meeting Type:  Annual
Record Date:  MAY 1, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Annual Report	For	For	Management
2	Approve Financial Statements	For	For	Management
3	Approve Allocation of Income Including Dividends (8% of Net Income)	For	For	Management
4	Amend Charter	For	For	Management
5	Ratify Auditors	For	For	Management
6.1	Reelect Sergei Ignatiev as Director	For	Withhold	Management
6.2	Reelect Tatiana Paramonova as Director	For	Withhold	Management
6.3	Reelect Georgy Luntovsky as Director	For	Withhold	Management
6.4	Elect Victor Melnikov as Director	For	Withhold	Management
6.5	Reelect Nadejda Ivanova as Director	For	Withhold	Management
6.6	Reelect Valery Tkachenko as Director	For	Withhold	Management
6.7	Reelect Konstantin Shor as Director	For	Withhold	Management
6.8	Reelect Alexei Uliukaev as Director	For	Withhold	Management
6.9	Reelect Bella Zlatkis as Director	For	Withhold	Management
6.10	Reelect Arkady Dvorkovich as Director	For	Withhold	Management
6.11	Elect Anton Danilov-Danilian as Director	For	Withhold	Management
6.12	Reelect Andrei Kazmin as Director	For	Withhold	Management
6.13	Reelect Alla Aleshkina as Director	For	Withhold	Management
6.14	Elect Andrei Manoilo as Director	For	Withhold	Management
6.15	Elect Alexander Soloviev as Director	For	Withhold	Management
6.16	Elect Sergei Generalov as Director	For	For	Management
6.17	Reelect Boris Fedorov as Director	For	Withhold	Management
6.18	Elect Ylya Shcherbovich as Director	For	Withhold	Management
6.19	Elect Ryan Charles as Director	For	Withhold	Management
6.20	Reelect Vadim Kleiner as Director	For	For	Management
7.1	Elect Anna Burkovskaya as Member of Inspection Committee (Audit Commission)	For	For	Management
7.2	Elect Nikolai Semenov as Member of Inspection Committee (Audit Commission)	For	For	Management
7.3	Elect Olga Podstrekha as Member of Inspection Committee (Audit Commission)	For	For	Management
7.4	Elect Valentina Khrapunkova as Member of Inspection Committee (Audit Commission)	For	For	Management
7.5	Elect Elizaveta Alekseeva as Member of Inspection Committee (Audit Commission)	For	For	Management
7.6	Elect Maxim Doljnikov as Member of Inspection Committee (Audit Commission)	For	For	Management
7.7	Elect Natalia Polonskaya as Member of Inspection Committee (Audit Commission)	For	For	Management
7.8	Elect Valentina Tkachenko as Member of Inspection Committee (Audit Commission)	For	For	Management
8	Approve Regulations on Executive Board	For	For	Management
9	Amend Regulations on Board of Directors	For	Against	Management
10	Amend Regulations on Executive Board	For	Against	Management

118

SCOR

Ticker:  SCO		Security ID:  FR0000130304
Meeting Date:  MAY 18, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Reduction in Capital via Reduction in Par Value From EUR 1 to EUR 0.78 to Enable Treatment of Losses	For	Did Not Vote	Management
2	Amend Articles to Reflect Changes in Capital pursuant to Item 1	For	Did Not Vote	Management
3	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
4	Approve Stock Option Plan Grants	For	Did Not Vote	Management
5	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 600 Million	For	Did Not Vote	Management
6	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 200 Million and Set Global Limit Capital Increases Pursuant to Items 5, 6, and 8 to EUR 600 Million	For	Did Not Vote	Management
7	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management
8	Approve Issuance of Up to 125 Million Shares to Shareholders of IRP Holdings Excluding SCOR	For	Did Not Vote	Management
9	Amend Articles of Assocication to Reflect 2003 Legal Changes Re: Board Representation	For	Did Not Vote	Management
10	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
11	Approve Treatments of Losses	For	Did Not Vote	Management
12	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
13	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
14	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
15	Authorize Board to Determine Terms of Executive, Stock-Based Compensation Plan	For	Did Not Vote	Management
16	Authorize Issuance of Bonds/Debentures in the Aggregate Value of EUR 500 Million	For	Did Not Vote	Management
17	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

119

SCOTTISH & NEWCASTLE PLC

Ticker:		Security ID:  GB0007839698
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 Remuneration Report	For	For	Management
3	Approve Final Dividend of 13.41 Pence Per Share	For	For	Management
4	Re-elect Iain Anderson as Director	For	For	Management
5	Re-elect Erik Hartwall as Director	For	For	Management
6	Re-elect Neville Isdell as Director	For	For	Management
7	Re-elect Ian McAllister as Director	For	For	Management
8	Re-elect Ian McHoul as Director	For	For	Management
9	Re-appoint Ernst and Young LLP as Auditors of the Company	For	For	Management
10	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
11	Approve Increase in Remuneration of Non-Executive Directors from GBP 280,000 to GBP 310,000	For	For	Management
12	Adopt New Articles of Association	For	For	Management
13	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 34 Million	For	For	Management
14	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 8,900,000	For	For	Management
15	Authorise 89 Million Ordinary Shares for Market Purchase	For	For	Management
16	Approve Scottish and Newcastle Performance Share Plan	For	For	Management

SCOTTISH & SOUTHERN ENERGY PLC (FORMERLY HYDRO ELECTRIC POWER PLC)

Ticker:		Security ID:  GB0007908733
Meeting Date:  JULY 24, 2003		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 Remuneration Report	For	Did Not Vote	Management
3	Approve Final Dividend of 24.5 Pence Per Ordinary Share	For	Did Not Vote	Management
4	Elect Gregor Alexander as Director	For	Did Not Vote	Management
5	Elect Rene Medori as Director	For	Did Not Vote	Management
6	Elect Susan Rice as Director	For	Did Not Vote	Management
7	Elect Robert Smith as Director	For	Did Not Vote	Management
8	Reelect Colin Hood as Director	For	Did Not Vote	Management
9	Reelect David Payne as Director	For	Did Not Vote	Management
10	Reelect David Sigsworth as Director	For	Did Not Vote	Management
11	Approve KPMG Audit Plc as Auditors and Authorize Board to Fix Their Remuneration	For	Did Not Vote	Management
12	Approve Increase in Remuneration of Nonexecutive Directors to GBP 400,000	For	Did Not Vote	Management
13	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of GBP 21,452,330	For	Did Not Vote	Management
14	Authorize 85,809,319 Ordinary Shares for Share Repurchase Program	For	Did Not Vote	Management

120

SEIYU LTD.

Ticker:		Security ID:  JP3417400003
Meeting Date:  MAR 24, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Increase Authorized Capital from 1.365 Billion Shares to 1.405 Billion Shares - Authorize Share Repurchases at Board’s Discretion	For	For	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	For	Management
2.5	Elect Director	For	Against	Management
2.6	Elect Director	For	Against	Management
2.7	Elect Director	For	Against	Management
2.8	Elect Director	For	Against	Management
2.9	Elect Director	For	Against	Management
2.10	Elect Director	For	For	Management
2.11	Elect Director	For	Against	Management

SHELL TRANSPORT AND TRADING COMPANY PLC (THE)

Ticker:  SC		Security ID:  GB0008034141
Meeting Date:  JUN 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Elect Malcolm Brinded as Director	For	For	Management
4	Re-elect Eileen Buttle as Director	For	For	Management
5	Re-elect Luis Giusti as Director	For	For	Management
6	Re-elect Nina Henderson as Director	For	For	Management
7	Re-elect Lord Oxburgh as Director	For	For	Management
8	Re-appoint PricewaterhouseCoopers LLP as Auditors of the Company	For	For	Management
9	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
10	Authorise 483 Million Ordinary Shares for Market Purchase	For	For	Management

121

SHISEIDO CO. LTD.

Ticker:  SSDOY		Security ID:  JP3351600006
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 11, Final JY 11, Special JY 0	For	For	Management
2	Amend Articles to: Abolish Retirement Bonus System - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Directors	For	For	Management
6	Approve Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus System	For	Against	Management
7	Approve Executive Stock Option Plan	For	For	Management

SIEMENS AG

Ticker:  SMAG40		Security ID:  DE0007236101
Meeting Date:  JAN 22, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	None	Management
2	Approve Allocation of Income and Dividends of EUR 1.10 per Share	For	For	Management
3	Approve Discharge of Management Board for Fiscal 2002/2003	For	For	Management
4	Approve Discharge of Supervisory Board for Fiscal 2002/2003	For	For	Management
5	Ratify KPMG as Auditors	For	For	Management
6	Elect Jerry Speyer to the Supervisory Board; Elect Hans-Dieter Wiedig as a Deputy Supervisory Board Member	For	For	Management
7	Authorize Repurchase of up to Ten Percent of Issued Share Capital; Authorize Board to Issue Repurchased Shares	For	For	Management
8	Approve Creation of EUR 600 Million Pool of Conditional Capital with Preemptive Rights	For	For	Management
9	Approve Issuance of Convertible Bonds and/or Bonds with Warrants Attached up to Aggregate Nominal Amount of EUR 11.3 Billion with Preemptive Rights; Approve Creation of EUR 600 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	For	Management

122

SK TELECOM

Ticker:		Security ID:  KR7017670001
Meeting Date:  MAR 12, 2004		Meeting Type:  Annual
Record Date:  DEC 31, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Appropriation of Income and Dividends of KRW 5500 Per Share	For	For	Management
2	Amend Articles of Incorporation	For	For	Management
3	Approve Limit on Remuneration of Directors	For	For	Management
4.1	Elect Director(s)	For	For	Management
4.2	Elect Member(s) of Audit Committee	For	For	Management

SKANDIA FORSAKRINGS AB(SKANDIA GROUP INSURANCE COMPANY LTD)

Ticker:		Security ID:  SE0000113094
Meeting Date:  JAN 28, 2004		Meeting Type:  Special
Record Date:  JAN 16, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Elect Chairman of Meeting	For	For	Management
3	Approve Agenda of Meeting	For	For	Management
4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
5	Prepare and Approve List of Shareholders	For	For	Management
6	Acknowledge Proper Convening of Meeting	For	For	Management
7	Determine Number of Members (6) and Deputy Members (0) of Board	For	For	Management
8	Reelect Bjoern Bjoernsson and Eero Helioevaara as Directors; Elect Karl-Olof Hammarkvist, Lennart Jeansson, Birgitta Johansson-Hedberg, and Christoffer Taxell as Directors	For	For	Management
9	Ratify Bertel Enlund (Ernst & Young) as Auditor	For	For	Management
10	Close Meeting	None	None	Management

123

SKANDIA FORSAKRINGS AB(SKANDIA GROUP INSURANCE COMPANY LTD)

Ticker:		Security ID:  SE0000113094
Meeting Date:  APR 15, 2004		Meeting Type:  Annual
Record Date:  APR 5, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Elect Chairman of Meeting	For	For	Management
3	Approve Agenda of Meeting	For	For	Management
4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
5	Prepare and Approve List of Shareholders	For	For	Management
6	Acknowledge Proper Convening of Meeting	For	For	Management
7	Receive Financial Statements and Statutory Reports; Receive Board and Committee Reports	None	None	Management
8	Receive President’s Report	None	None	Management
9	Receive Auditor’s Report	None	None	Management
10	Accept Financial Statements and Statutory Reports	For	For	Management
11	Approve Allocation of Income and Dividends of SEK 0.30 Per Share	For	For	Management
12	Approve Discharge of Board and President	For	For	Management
13	Approve Remuneration of Directors: SEK 1 Million for Chairman, SEK 600,000 for Vice Chairman and SEK 300,000 for Other Board Members; Additional Remuneration of SEK 1.5 Million for Chairman and Vice Chairman; SEK 700,000 Remuneration for Committee Work	For	For	Management
14	Determine Number of Members (7) and Deputy Members (0) of Board	For	For	Management
15	Reelect Karl-Olof Hammarkvist as Director; Elect Kajsa Lindstaahl and Anders Ullberg as New Directors	For	For	Management
16	Approve Remuneration of Auditors	For	For	Management
17	Ratify Goeran Engquist and Svante Forsberg (Deloitte & Touche) as Auditors	For	For	Management
18	Ratify Gunnar Abrahamsson and Hans Stenberg (Deloitte & Touche AB) as Deputy Auditors	For	For	Management
19.1	Authorize Chairman of Board to Appoint Members of Nominating Committee	For	Against	Management
19.2	Shareholder Proposal: Authorize General Meeting to Elect Members of Nominating Committee	Against	For	Shareholder
20	Amend Articles Re: Reduce Directors’ Term of Office from 2 Years to 1 Year; Stipulate that One Director Be Elected by Swedish Financial Supervisory Authority; Authorize Company to Appoint One or Two Auditors (Audit Firm or Individual); Editorial Changes	For	For	Management
21.1	Shareholder Proposal: Enroll Policyholders of Skandia as Members of the Swedish Insurance Savings Policyholders’ Association	None	Against	Shareholder
21.2	Shareholder Proposal: Disclose All Agreements Involving Directors; Cancel All Agreements with Directors Made Prior to AGM; Complement Skandia Investigation with Respect to Bengt Braun’s and Lars Ramqvist’s Liability	None	Against	Shareholder
22	Close Meeting	None	None	Management

124

SM PRIME HOLDINGS INC.

Ticker:		Security ID:  PHY8076N1120
Meeting Date:  APR 22, 2004		Meeting Type:  Annual
Record Date:  MAR 23, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Call to Order	For	For	Management
2	Certification of Notice and Quorum	For	For	Management
3	Approve Minutes of Previous Shareholder Meeting	For	For	Management
4	Presentation of President’s Report	For	For	Management
5	Approve Audited Financial Statements	For	For	Management
6	Ratify Acts of Board and Management	For	For	Management
7	Elect Directors	For	For	Management
8	Appoint Auditors	For	For	Management
9	Amend Bylaws Re: Provisions on the Nomination and Election of Independent Directors	For	For	Management
10	Other Business	For	Against	Management
11	Adjournment	For	For	Management

SMC CORP.

Ticker:		Security ID:  JP3162600005
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 19, Final JY 19, Special JY 10	For	For	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
3.18	Elect Director	For	For	Management
3.19	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
5	Approve Retirement Bonuses for Director and Statutory Auditor	For	For	Management
6	Appoint External Auditor	For	For	Management

125

SMEDVIG AS

Ticker:  SMV.A		Security ID:  NO0003390205
Meeting Date:  APR 27, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
2	Approve Notice of Meeting and Agenda	For	For	Management
3	Accept Financial Statements and Statutory Reports; Approve Allocation of Income and Dividends of NOK 1.25 Per Share	For	For	Management
4	Approve Remuneration of Directors	For	For	Management
5	Approve Remuneration of Auditors	For	For	Management
6	Reelect Raymond De Smedt, Larry Nichols, and Andrew Salvesen as Directors	For	For	Management
7	Approve Stock Option Plan for Key Employees; Approve Creation of NOK 10 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	For	Management
8	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management
9	Approve NOK 7 Million Reduction in Share Capital via Share Cancellation of Class A Shares	For	For	Management

SMITH & NEPHEW PLC

Ticker:  SNN		Security ID:  GB0009223206
Meeting Date:  MAY 6, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Final Dividend of 3.1 Pence Per Share	For	For	Management
3	Re-elect Warren Knowlton as Director	For	For	Management
4	Re-elect Christopher O’Donnell as Director	For	For	Management
5	Re-elect Richard De Schutter as Director	For	For	Management
6	Re-elect Rolf Stomberg as Director	For	For	Management
7	Re-appoint Ernst and Young LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
8	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 33,321,078	For	For	Management
9	Approve Remuneration Report	For	For	Management
10	Approve the Smith and Nephew 2004 Performance Share Plan	For	For	Management
11	Approve the Smith and Nephew 2004 Executive Share Option Plan	For	For	Management
12	Approve the Smith and Nephew 2004 Co-investment Plan	For	For	Management
13	Authorise the Directors to Establish Overseas Share Schemes	For	For	Management
14	Authorise the Directors to Establish the New Discretionary Trust	For	For	Management
15	Amend the Smith and Nephew 2001 UK Approved Share Option Plan	For	For	Management
16	Amend the Smith and Nephew 2001 UK Unapproved Share Option Plan	For	For	Management
17	Approve Reclassification of the One Issued ‘B’ Ordinary Share of 12 2/9 Pence as an Ordinary Share Having the Same Rights and Subject to the Same Restrictions as Existing Ordinary Shares	For	For	Management
18	Authorise 93,486,408 Shares for Market Purchase	For	For	Management
19	Adopt New Articles of Association	For	For	Management
20	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 5,713,057	For	For	Management
21	Approve Increase in Remuneration of Non-Executive Directors to GBP 900,000 Per Year	For	For	Management

126

SNP PETROM S.A.

Ticker:		Security ID:  ROSNPPACNOR9
Meeting Date:  MAY 25, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Reconsider Allocation of Income for 2003	For	Against	Management
2	Present Program for Development and Restructuring of Company	None	None	Management

SNP PETROM S.A.

Ticker:		Security ID:  ROSNPPACNOR9
Meeting Date:  APR 28, 2004		Meeting Type:  Special
Record Date:  APR 19, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Increase in Authorized Capital by 42,183,442,000 Lei Representing the Value of Land Owned by the Company	For	Against	Management
2	Amend Articles of Association Re: Object of Company’s Activities	For	Against	Management
3	Approve Petrom’s takeover of Commercial Society Delfinul Prod Com SRL, at the Commercial Society Brazi Oil & Anghelescu Prod Com SRL, a Company Associated with Petrom	For	Against	Management
4	Approve Acquisition of 1.46 Percent of Stock Held by Local Nadlac at the Commercial Society Petrom Nadlac SRL, Their Transformation into 0.73 Percent of Petrom Stock, Held by Associate Iardek Cornel and that Company’s Acquisition by Petrom	For	Against	Management
5	Approve Sale of 75,02 Percent of Stock Held by Petrom to the Commercial Society Carpatina S.A	For	Against	Management
6	Approve Republishing the Company’s Articles of Association, with All Current Amendments	For	Against	Management
7	Establish Registration Date and Authorize General Director to Perform Legal Formalities Regarding Delivery of Meeting’s Decisions to Office of Registry of Commerce	For	For	Management

127

SNP PETROM S.A.

Ticker:		Security ID:  ROSNPPACNOR9
Meeting Date:  MAR 22, 2004		Meeting Type:  Special
Record Date:  MAR 15, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles of Association — General Matters	For	For	Management
2	Approve Sale of Company Assets	For	Against	Management
3	Approve Establishment of a Branch in Peco Gorj	For	For	Management
4	Amend Corporate Scope of Activities to Include Packaging Business	For	For	Management
5	Approve Fixing of Filing Date for Documents	For	For	Management

SNP PETROM S.A.

Ticker:		Security ID:  ROSNPPACNOR9
Meeting Date:  APR 28, 2004		Meeting Type:  Annual
Record Date:  APR 19, 2004
			��
#	Proposal	Mgt Rec		Vote Cast	Sponsor
1	Accept Financial Statements and Distribution of Profits	For		Did Not Vote	Management
2	Approve Discharge of Administrators	For		Did Not Vote	Management
3	Approve Remuneration of Directors and Auditors	For		Did Not Vote	Management
4	Approve Income and Expenses Budget for 2004	For		Did Not Vote	Management
5	Establish Registration Date and Authorize General Director to Perform Legal Formalities Regarding Delivery of Meeting’s Decisions to Office of Registry of Commerce	For		Did Not Vote	Management

128

SNP PETROM S.A.

Ticker:		Security ID:  ROSNPPACNOR9
Meeting Date:  DEC 19, 2003		Meeting Type:  Special
Record Date:  DEC 16, 2003
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Supplementing Consulting Services Regarding Privatization Process	For	For	Management
2	Approve Increase in Stated Capital Through Acquisition of Title Deeds for Land Properties	For	For	Management
3	Amend Corporate Purpose: Add to Company’s Activities	For	For	Management
4	Approve Issuance of Equity Representing 35 Percent of Share Capital of ICS Petrom Moldova SA to BC Victoriabank SA	For	For	Management
5	Approve Participation of SNP Petrom SA at Trade Conference	For	For	Management
6	Approve Sale of Company Assets (Five Ships Owned by Petromar Constanta Branch)	For	For	Management
7	Approve Special Sale Discounts	For	For	Management
8	Approve Report on Negotiations Regarding Conversion into Shares for Some Debts of SC Uzinele Sodice Govora and SC Republica SA to Company	For	For	Management
9	Amend Company’s Bylaws Re: Participation in Company’s Privatization by Its Employees	For	For	Management

SONS OF GWALIA LTD.

Ticker:		Security ID:  AU000000SGW6
Meeting Date:  NOV 14, 2003		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2a	Elect Peter Lalor as Director	For	Against	Management
2b	Elect Malcolm Richmond as Director	For	For	Management
3	Approve Remuneration of Directors in the Amount of AUD 350,000	For	For	Management
4	Other Business (Voting)	For	Against	Management

SONY CORP.

Ticker:  SNE		Security ID:  JP3435000009
Meeting Date:  JUN 22, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
2.1	Elect Director	For	For	Management
2.2	Elect Director	For	For	Management
2.3	Elect Director	For	For	Management
2.4	Elect Director	For	For	Management
2.5	Elect Director	For	For	Management
2.6	Elect Director	For	For	Management
2.7	Elect Director	For	For	Management
2.8	Elect Director	For	For	Management
2.9	Elect Director	For	For	Management
2.10	Elect Director	For	Against	Management
2.11	Elect Director	For	For	Management
2.12	Elect Director	For	For	Management
2.13	Elect Director	For	For	Management
2.14	Elect Director	For	For	Management
2.15	Elect Director	For	For	Management
2.16	Elect Director	For	For	Management
3	Approve Executive Stock Option Plan	For	For	Management
4	Approve Stock Option Plan for Directors and Executives of Subsidiary Sony Communication Network	For	For	Management
5	Amend Articles to Require Disclosure of Compensation Levels of Individual Directors and Executive Officers	Against	For	Shareholder

129

STATOIL ASA

Ticker:		Security ID:  NO0010096985
Meeting Date:  MAY 5, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	None	Management
2	Prepare List of Shareholders	None	None	Management
3	Elect Chairman of Meeting	For	For	Management
4	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
5	Approve Notice of Meeting and Agenda	For	For	Management
6	Approve Financial Statements, Allocation of Income and Dividends of NOK 2.95 Per Share	For	For	Management
7	Approve Remuneration of Auditors	For	For	Management
8	Approve Remuneration of Members of Corporate Assembly	For	For	Management
9	Approve Remuneration of Members of Election Committee	For	For	Management
10	Elect Members and Deputy Members of Corporate Assembly	For	For	Management
11	Elect Members of Election Committee	For	For	Management
12	Authorize Repurchase of Issued Shares Up to NOK 10 Million Nominal Value for Employee Share Investment Plan	For	For	Management

SUMITOMO MITSUI FINANCIAL GROUP INC.

Ticker:		Security ID:  JP3890350006
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3000, Special JY 0	For	For	Management
2	Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary Shares - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3	Elect Director	For	For	Management
4	Appoint Internal Statutory Auditor	For	Against	Management
5	Approve Retirement Bonuses for Director and Statutory Auditor	For	Against	Management

130

SUMITOMO TRUST & BANKING CO. LTD.

Ticker:		Security ID:  JP3405000005
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 6, Special JY 0	For	For	Management
2	Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary Shares - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	Against	Management
5	Approve Retirement Bonuses for Directors and Statutory Auditors	For	For	Management

SWATCH GROUP (FORMERLY SMH SCHWEIZERISCHE GESELLSCHAFT)

Ticker:		Security ID:  CH0012255151
Meeting Date:  MAY 27, 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 Discharge of Board and Senior Management	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of CHF 0.29 per Registered Share and CHF 1.45 per Bearer Share	For	Did Not Vote	Management
4	Reelect Esther Grether, Nayla Hayek, Peter Baumberger, Peter Gross, Nicolas Hayek, Johann Schneider-Ammann, and Ernst Tanner as Directors	For	Did Not Vote	Management
5	Ratify PricewaterhouseCoopers Ltd as Auditors	For	Did Not Vote	Management

131

T-ONLINE INTERNATIONAL

Ticker:		Security ID:  DE0005557706
Meeting Date:  MAY 19, 2004		Meeting Type:  Annual
Record Date:  MAY 12, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Discharge of Management Board	For	Did Not Vote	Management
3	Approve Discharge of Supervisory Board	For	Did Not Vote	Management
4	Ratify PwC Deutsche Revision AG as Auditors	For	Did Not Vote	Management
5	Amend 2001 Stock Option Plan	For	Did Not Vote	Management
6	Adopt New Articles of Association	For	Did Not Vote	Management
7	Amend Articles Re: Changes to the Remuneration of the Supervisory Board Members and Amendment to the Articles	For	Did Not Vote	Management
8	Elect Dieter Cazzonelli to the Supervisory Board	For	Did Not Vote	Management
9	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management

TANSAS PERAKENDE MAGAZACILIK (FORMERLY TANSAS IZMIR BUYUKSEHIR)

Ticker:		Security ID:  TRATNSAS91J2
Meeting Date:  NOV 10, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting and Elect Presiding Council	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Amend Articles Re: Increase Authorized Capital from TRL 300 Trillion to TRL 400 Trillion, and Number of Bearer and Registered Shares	For	Did Not Vote	Management
4	Approve Changes to Board	For	Did Not Vote	Management
5	Wishes	None	Did Not Vote	Management

132

TECHNIP (FORMERLY TECHNIP-COFLEXIP)

Ticker:  TNHPY		Security ID:  FR0000131708
Meeting Date:  APR 21, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Allocation of Income and Dividends of EUR 4.95 per Share	For	Did Not Vote	Management
3	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Approve Discharge of Management and Supervisory Board	For	Did Not Vote	Management
6	Approve Remuneration of Directors in the Aggregate Amount of EUR 250,000	For	Did Not Vote	Management
7	Ratify Cabinet Barbier, Frinault et Autres as Auditors	For	Did Not Vote	Management
8	Ratify PricewaterhouseCoopers Audit as Auditors	For	Did Not Vote	Management
9	Ratify Christian Chochon as Alternate Auditors	For	Did Not Vote	Management
10	Ratify Yves Nicolas as Alternate Auditors	For	Did Not Vote	Management
11	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
12	Amend Articles of Association to Reflect 2003 Legal Changes to French Commercial Code	For	Did Not Vote	Management
13	Approve Capital Increase Reserved for Employees of American Subsidiaries Participating in Share Purchase Plan Pursuant to Authorization Granted in Item 6 at the July 11, 2003, Shareholder Meeting	For	Did Not Vote	Management
14	Authorize Capital Increase of Up to EUR 37.5 Million for Future Exchange Offers	For	Did Not Vote	Management
15	Allow Board to Issue Shares in the Event of a Public Tender Offer or Share Exchange Offer	For	Did Not Vote	Management
16	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

133

TELECOM ITALIA SPA.(FORMERLY OLIVETTI SPA)

Ticker:  OING60		Security ID:  IT0003497168
Meeting Date:  MAY 4, 2004		Meeting Type:  Annual/Special
Record Date:  APR 29, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Adopt Rules Governing General Meetings	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Elect External Auditors for the Three-Year Term 2004-2006 and Fix Remuneration of Auditors	For	Did Not Vote	Management
4.A	Fix Number of Directors; Set Term of Office of Directors and Directors’ Remuneration	For	Did Not Vote	Management
4.B	Elect Directors	For	Did Not Vote	Management
5	Redefine Remuneration of Internal Statutory Auditors	For	Did Not Vote	Management
1.A	Amend Article 2	For	Did Not Vote	Management
1.B	Amend Article 4	For	Did Not Vote	Management
1.C	Amend Article 5	For	Did Not Vote	Management
1.D	Amend Article 6	For	Did Not Vote	Management
1.E	Amend Article 7	For	Did Not Vote	Management
1.F	Amend Article 9	For	Did Not Vote	Management
1.G	Amend Article 11	For	Did Not Vote	Management
1.H	Amend Article 12	For	Did Not Vote	Management
1.I	Amend Article 13	For	Did Not Vote	Management
1.J	Amend Article 14	For	Did Not Vote	Management
1.K	Amend Article 15	For	Did Not Vote	Management
1.L	Amend Article 16	For	Did Not Vote	Management
1.M	Amend Article 17	For	Did Not Vote	Management
1.N	Amend Article 18	For	Did Not Vote	Management
1.O	Amend Article 19	For	Did Not Vote	Management
1.P	Introduction of One New Article Following Article 13 of the Bylaws	For	Did Not Vote	Management
1.Q	Eliminate Article 20 From the Bylaws	For	Did Not Vote	Management
1.R	Renumber Articles of Association; Authorize Board to Ratify and Execute Approved Resolutions	For	Did Not Vote	Management

134

TELEKOMUNIKACJA POLSKA S.A.

Ticker:		Security ID:  PLTLKPL00017
Meeting Date:  APR 29, 2004		Meeting Type:  Annual
Record Date:  APR 22, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	For	Did Not Vote	Management
2	Elect Meeting Chairman	For	Did Not Vote	Management
3	Acknowledge Proper Convening of Meeting	For	Did Not Vote	Management
4	Approve Agenda of Meeting	For	Did Not Vote	Management
5	Elect Members of Election Committee	For	Did Not Vote	Management
6A	Receive Management Board Report and Financial Statements	None	Did Not Vote	Management
6B	Receive Management Board’s Proposal for Allocation of Income	None	Did Not Vote	Management
6C	Receive Supervisory Board Report	None	Did Not Vote	Management
6D	Receive Management Board Report on Company’s Capital Group and Consolidated Financial Statements	None	Did Not Vote	Management
6E	Receive Supervisory Board Report on Company’s Capital Group	None	Did Not Vote	Management
7A	Approve Management Board Report	For	Did Not Vote	Management
7B	Approve Financial Statements	For	Did Not Vote	Management
7C	Approve Allocation of Income	For	Did Not Vote	Management
7D	Approve Management Board Report on Company’s Capital Group	For	Did Not Vote	Management
7E	Approve Consolidated Financial Statements	For	Did Not Vote	Management
7F	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
8	Amend Articles of Association (Statute) Re: Deputy Chairman of Supervisory Board	For	Did Not Vote	Management
9	Adopt Unified Text of Statute	For	Did Not Vote	Management
10	Amend Resolution of June 17, 1999 AGM on Remuneration of Supervisory Board Members	For	Did Not Vote	Management
11	Elect Supervisory Board	For	Did Not Vote	Management
12	Close Meeting	For	Did Not Vote	Management

TELENOR ASA

Ticker:		Security ID:  NO0010063308
Meeting Date:  MAY 6, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Notice of Meeting	For	For	Management
2	Designate Inspector or Shareholder Representative(s) of Minutes of Meeting	For	For	Management
3	Approve Financial Statements, Allocation of Income and Dividends of NOK 1 Per Share	For	For	Management
4	Approve Remuneration of Auditors	For	For	Management
5	Approve NOK 332.7 Million Reduction in Share Capital via Share Cancellation; Approve Repurchase of 14.5 Million Shares from the Kingdom of Norway; Approve Transfer of NOK 543.4 Million from Share Premium Reserve to Other Equity	For	For	Management
6.1	Approve Creation of NOK 524.8 Million Pool of Conditional Capital without Preemptive Rights	For	For	Management
6.2	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	For	Management

135

TESCO PLC

Ticker:		Security ID:  GB0008847096
Meeting Date:  JUN 18, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 4.77 Pence Per Ordinary Share	For	For	Management
4	Amend Articles of Association Re: Director’s Retirement Age	For	For	Management
5	Re-elect Charles Allen as Director	For	For	Management
6	Re-elect Philip Clarke as Director	For	For	Management
7	Re-elect Harald Einsmann as Director	For	For	Management
8	Re-elect Veronique Morali as Director	For	For	Management
9	Re-elect Graham Pimlott as Director	For	For	Management
10	Elect Richard Brasher as Director	For	For	Management
11	Elect Ken Hydon as Director	For	For	Management
12	Elect Mervyn Davies as Director	For	For	Management
13	Elect David Reid as Director	For	For	Management
14	Re-appoint PricewaterhouseCoopers LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
15	Approve Increase in Authorised Share Capital from GBP 481,600,000 to GBP 530,000,000	For	For	Management
16	Approve Scrip Dividend	For	For	Management
17	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 128.07 Million	For	For	Management
18	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 19.21 Million	For	For	Management
19	Authorise 768.44 Million Ordinary Shares for Market Purchase	For	For	Management
20	Authorise Tesco Stores CR a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000	For	For	Management
21	Authorise Tesco Stores SR a.s. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000	For	For	Management
22	Authorise Tesco Global Rt to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000	For	For	Management
23	Authorise Tesco Polska Sp z.o.o. to Make EU Political Donations up to GBP 25,000 and Incur EU Political Expenditure up to GBP 25,000	For	For	Management
24	Approve the Tesco PLC Performance Share Plan 2004	For	For	Management
25	Approve the Tesco PLC 2004 Discretionary Share Option Plan	For	For	Management

136

THALES SA (FORMERLY THOMSON-CSF)

Ticker:		Security ID:  FR0000121329
Meeting Date:  MAY 11, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Dividends of EUR 1.125 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Change Location of Registered Office/Headquarters to 45, rue de Villiers in Neuilly-sur-Seine	For	Did Not Vote	Management
6	Ratify Cooptation of Benoit Tellier as Director	For	Did Not Vote	Management
7	Elect Francois Bujon de l’Estang as Director	For	Did Not Vote	Management
8	Reelect Louis Gallois as Director	For	Did Not Vote	Management
9	Reelect Denis Ranque as Director	For	Did Not Vote	Management
10	Reelect Denis Samuel-Lajeunesse as Director	For	Did Not Vote	Management
11	Reelect TSA as Director	For	Did Not Vote	Management
12	Reelect Jean-Paul Barth as Director	For	Did Not Vote	Management
13	Reelect Serge Dassault as Director	For	Did Not Vote	Management
14	Reelect Serge Tchuruk as Director	For	Did Not Vote	Management
15	Elect Charles de Croisset as Director	For	Did Not Vote	Management
16	Reelect Roger Freeman as Director	For	Did Not Vote	Management
17	Elect Klaus Naumann as Director	For	Did Not Vote	Management
18	Reelect Henri Proglio as Director	For	Did Not Vote	Management
19	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
20	Amend Articles to Classify Board	For	Did Not Vote	Management
21	Amend Articles to Reduce the Number of Employee Representatives Serving on the Board from Three to Two	For	Did Not Vote	Management
22	Amend Articles of Association to Reflect 2003 Legal Changes to French Commercial Code Re: Shareholding Disclosure	For	Did Not Vote	Management
23	Amend Articles of Association Re: Double Voting Rights	For	Did Not Vote	Management
24	Approve Stock Option Plan Grants	For	Did Not Vote	Management
25	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 36 Million	For	Did Not Vote	Management
26	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 36 Million	For	Did Not Vote	Management
27	Set Global Limit for Capital Increase to Result from Issuance Requests in Items 25 and 26 at EUR 36 Million	For	Did Not Vote	Management
28	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management
29	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

137

TIETOENATOR CORP (FORMERLY TT TIETO OY )

Ticker:		Security ID:  FI0009000277
Meeting Date:  MAR 18, 2004		Meeting Type:  Annual
Record Date:  MAR 8, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1.1	Receive Financial Statements	None	None	Management
1.2	Receive Auditors’ Report	None	None	Management
1.3	Accept Financial Statements and Statutory Reports	For	For	Management
1.4	Approve Allocation of Income and Dividends of EUR 0.50 Per Share	For	For	Management
1.5	Approve Discharge of Board and President	For	For	Management
1.6	Approve Remuneration of Directors and Auditors	For	For	Management
1.7	Fix Number of Directors	For	For	Management
1.8	Elect Directors	For	For	Management
1.9	Appoint Auditors and Deputy Auditors	For	For	Management
2	Amend Articles Re: Introduce Mandatory Retirement Age (68 Years) for Board Members	For	Against	Management
3	Approve Transfer of EUR 910.1 Million from Share Premium Fund to Fund Used in Accordance with Decision by a General Meeting	For	For	Management
4	Authorize Repurchase of Up to Five Percent of Issued Share Capital	For	For	Management
5	Approve Creation of EUR 16.6 Million Pool of Conditional Capital without Preemptive Rights	For	For	Management
6	Shareholder Proposal: Distribute Shares of Dotcom Solutions AB to Shareholders of TietoEnator Corp.	None	Against	Shareholder

138

TOFAS TURK OTOMOBIL FABRIKASI ANONIM SIRKETI

Ticker:		Security ID:  TRATOASO91H3
Meeting Date:  APR 13, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Elect Directors Appointed During the Year	For	Did Not Vote	Management
4	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
5	Approve Allocation of Income	For	Did Not Vote	Management
6	Elect Internal Auditors	For	Did Not Vote	Management
7	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
8	Approve Independent External Auditors	For	Did Not Vote	Management
9	Grant Permission for Board Members to Engage in Commercial Transactions With the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
10	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
11	Wishes	None	Did Not Vote	Management

TOKYO BROADCASTING SYSTEM INC. (TBS)

Ticker:			Security ID:  JP3588600001
Meeting Date:  JUN 29, 2004			Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	��	Proposal	Mgt Rec	Vote Cast	Sponsor
1		Approve Allocation of Income, Including the Following Dividends: Interim JY 5, Final JY 5, Special JY 0	For	For	Management
2		Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3		Elect Director	For	For	Management
4.1		Appoint Internal Statutory Auditor	For	For	Management
4.2		Appoint Internal Statutory Auditor	For	For	Management
4.3		Appoint Internal Statutory Auditor	For	For	Management
4.4		Appoint Internal Statutory Auditor	For	Against	Management
4.5		Appoint Internal Statutory Auditor	For	Against	Management
5		Approve Retirement Bonuses for Statutory Auditors and Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus System	For	Against	Management
6		Approve Executive Stock Option Plan	For	For	Management

139

TOTAL S.A. (FORMERLY TOTAL FINA ELF S.A )

Ticker:  TOT		Security ID:  FR0000120271
Meeting Date:  APR 28, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Net Dividends of EUR 4.70 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Authorize Repurchase of Up to Ten Percent of Issued Share Capital and Reissuance of Repurchased Shares	For	Did Not Vote	Management
6	Authorize Issuance of Bonds/Debentures	For	Did Not Vote	Management
7	Reelect Thierry Desmarest as Director	For	Did Not Vote	Management
8	Reelect Thierry de Rudder as Director	For	Did Not Vote	Management
9	Reelect Serge Tchuruk as Director	For	Did Not Vote	Management
10	Elect Daniel Boeuf as Representative of Employee Shareholders to the Board	For	Did Not Vote	Management
11	Elect Philippe Marchandise as Representative of Employee Shareholders to the Board	Against	Did Not Vote	Management
12	Elect Cyril Mouche as Representative of Employee Shareholders to the Board	Against	Did Not Vote	Management
13	Elect Alan Cramer as Representative of Employee Shareholders to the Board	Against	Did Not Vote	Management
14	Ratify Ernst & Young Audit as Auditors	For	Did Not Vote	Management
15	Ratify KPMG Audit as Auditors	For	Did Not Vote	Management
16	Ratify Pierre Jouanne as Alternate Auditor	For	Did Not Vote	Management
17	Ratify Jean-Luc Decornoy as Alternate Auditor	For	Did Not Vote	Management
18	Approve Remuneration of Directors in the Aggregate Amount of EUR 900,000	For	Did Not Vote	Management
19	Approve Stock Option Plan Grants	For	Did Not Vote	Management
20	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 4 Billion	For	Did Not Vote	Management
21	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 2 Billion	For	Did Not Vote	Management
22	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan	For	Did Not Vote	Management

140

TOYOTA MOTOR CORP.

Ticker:  TM		Security ID:  JP3633400001
Meeting Date:  JUN 23, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 20, Final JY 25, Special JY 0	For	Against	Management
2	Amend Articles to: Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management
3.8	Elect Director	For	For	Management
3.9	Elect Director	For	For	Management
3.10	Elect Director	For	For	Management
3.11	Elect Director	For	For	Management
3.12	Elect Director	For	For	Management
3.13	Elect Director	For	For	Management
3.14	Elect Director	For	For	Management
3.15	Elect Director	For	For	Management
3.16	Elect Director	For	For	Management
3.17	Elect Director	For	For	Management
3.18	Elect Director	For	For	Management
3.19	Elect Director	For	For	Management
3.20	Elect Director	For	For	Management
3.21	Elect Director	For	For	Management
3.22	Elect Director	For	For	Management
3.23	Elect Director	For	For	Management
3.24	Elect Director	For	For	Management
3.25	Elect Director	For	For	Management
3.26	Elect Director	For	For	Management
3.27	Elect Director	For	For	Management
4	Approve Executive Stock Option Plan	For	For	Management
5	Authorize Share Repurchase Program	For	For	Management
6	Approve Retirement Bonuses for Directors and Special Bonus for Family of Deceased Director	For	For	Management
7	Approve Alternate Allocation of Income, with a Final Dividend of JY 40 Per Share	Against	For	Shareholder
8	Amend Articles of Incorporation to Require Disclosure of Individual Compensation Levels of Directors and Statutory Auditors	Against	For	Shareholder
9	Amend Articles of Incorporation to Prohibit Corporate Donations to Political Parties and Political Fundraising Groups	Against	Against	Shareholder

TRAKYA CAM

Ticker:		Security ID:  TRATRKCM91F7
Meeting Date:  APR 30, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Accept Financial Statements	For	Did Not Vote	Management
4	Accept Board and Statutory Reports	For	Did Not Vote	Management
5	Approve Discharge of Board	For	Did Not Vote	Management
6	Approve Discharge of Internal Auditors	For	Did Not Vote	Management
7	Approve Allocation of Income	For	Did Not Vote	Management
8	Elect Directors Appointed During the Year	For	Did Not Vote	Management
9	Elect Internal Auditors	For	Did Not Vote	Management
10	Approve Remuneration of Directors and Internal Auditors	For	Did Not Vote	Management
11	Grant Permission for Board Members to Engage in Commercial Transactions with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
12	Wishes	None	Did Not Vote	Management

141

TURK SISE CAM

Ticker:		Security ID:  TRASISEW91Q3
Meeting Date:  MAY 11, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting and Authorize Council to Sign Minutes of Meeting	For	Did Not Vote	Management
2	Accept Board and Statutory Reports	For	Did Not Vote	Management
3	Approve Financial Statements and Discharge Directors, and Internal Auditors	For	Did Not Vote	Management
4	Approve Allocation of Income	For	Did Not Vote	Management
5	Elect Director Appointed During the Year	For	Did Not Vote	Management
6	Elect Directors	For	Did Not Vote	Management
7	Elect Internal Auditors	For	Did Not Vote	Management
8	Grant Permission for Board Members to Engage in Commercial Transactions with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
9	Approve Remuneration of Directors	For	Did Not Vote	Management
10	Approve Remuneration of Internal Auditors	For	Did Not Vote	Management
11	Ratify Independent External Auditors	For	Did Not Vote	Management

142

TURKCELL ILETISIM HIZMETLERI

Ticker:		Security ID:  TRATCELL91M1
Meeting Date:  JUN 4, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Elect Directors Directors Appointed During the Year	For	Did Not Vote	Management
4	Accept Board and Statutory Reports	For	Did Not Vote	Management
5	Accept Financial Statements	For	Did Not Vote	Management
6	Approve Discharge of Board and Internal Auditors	For	Did Not Vote	Management
7	Elect Internal Auditors and Determine Their Remuneration	For	Did Not Vote	Management
8	Approve Allocation of Income	For	Did Not Vote	Management
9	Increase Authorized Capital from TRL 500 Trillion to TRL 1.5 Quadrillion	For	Did Not Vote	Management
10	Approve Donations Made in Financial Year 2003	For	Did Not Vote	Management
11	Ratify Independent External Auditors	For	Did Not Vote	Management
12	Grant Permission for Board Members to be Active in Areas Falling within the Scope of Company’s Business and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
13	Wishes	None	Did Not Vote	Management

TURKCELL ILETISIM HIZMETLERI

Ticker:		Security ID:  TRATCELL91M1
Meeting Date:  DEC 29, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Reelect Directors	For	Did Not Vote	Management
4	Grant Permission for Board Members to Individually Sign on Behalf of Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management

143

TURKCELL ILETISIM HIZMETLERI

Ticker:		Security ID:  TRATCELL91M1
Meeting Date:  OCT 30, 2003		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Elect Presiding Council of Meeting	For	Did Not Vote	Management
2	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
3	Reelect Directors	For	Did Not Vote	Management
4	Grant Permission for Board Members to Individually Sign on Behalf of Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management

TURKIYE IS BANKASI AS

Ticker:  TYIBY		Security ID:  TRAISCTR91N2
Meeting Date:  FEB 9, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Increase in Authorized Capital to TRL 3.5 Quadrillion	For	Did Not Vote	Management

UBS AG

Ticker:		Security ID:  CH0012032030
Meeting Date:  APR 15, 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 and Dividends of CHF 2.60 per Share	For	Did Not Vote	Management
3	Approve Discharge of Board and Senior Management	For	Did Not Vote	Management
4.1	Reelect Peter Davis as Director	For	Did Not Vote	Management
4.2.1	Elect Stephan Haeringer as Director	For	Did Not Vote	Management
4.2.2	Elect Helmut Panke as Director	For	Did Not Vote	Management
4.2.3	Elect Peter Spuhler as Director	For	Did Not Vote	Management
4.3	Ratify Ernst and Young as Auditors	For	Did Not Vote	Management
5.1	Approve CHF 47.6 Million Reduction in Share Capital via Cancellation of Shares	For	Did Not Vote	Management
5.2	Authorize Repurchase of Issued Share Capital	For	Did Not Vote	Management

144

UFJ HOLDINGS INC.

Ticker:		Security ID:  JP3944300007
Meeting Date:  JUN 25, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Retained Earnings, with No Dividends on Ordinary Shares	For	For	Management
2	Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary Shares - Authorize Share Repurchases at Board’s Discretion	For	For	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
3.6	Elect Director	For	For	Management
3.7	Elect Director	For	For	Management

UNI-CHARM CORP.

Ticker:		Security ID:  JP3951600000
Meeting Date:  JUN 29, 2004		Meeting Type:  Annual
Record Date:  MAR 31, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Allocation of Income, Including the Following Dividends: Interim JY 14, Final JY 14, Special JY 0	For	For	Management
2	Amend Articles to: Expand Business Lines - Clarify Director Authorities in Connection with the Introduction of Executive Officer System - Authorize Share Repurchases at Board’s Discretion	For	Against	Management
3.1	Elect Director	For	For	Management
3.2	Elect Director	For	For	Management
3.3	Elect Director	For	For	Management
3.4	Elect Director	For	For	Management
3.5	Elect Director	For	For	Management
4.1	Appoint Internal Statutory Auditor	For	For	Management
4.2	Appoint Internal Statutory Auditor	For	For	Management
4.3	Appoint Internal Statutory Auditor	For	Against	Management
4.4	Appoint Internal Statutory Auditor	For	Against	Management
5	Approve Executive Stock Option Plan	For	For	Management
6	Approve Retirement Bonus for Statutory Auditor	For	For	Management

145

UNIBAIL HOLDING(FRMLY UNIBAIL)

Ticker:		Security ID:  FR0000124711
Meeting Date:  MAR 31, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Allocation of Income and Net Dividends of EUR 3.50 per Share	For	Did Not Vote	Management
4	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
5	Reelect Jean-Claude Jolain as Director	For	Did Not Vote	Management
6	Reelect Henri Moulard as Director	For	Did Not Vote	Management
7	Reelect Jean-Jacques Rosa as Director	For	Did Not Vote	Management
8	Approve Remuneration of Directors in the Aggregate Amount of EUR 350,000	For	Did Not Vote	Management
9	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
10	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
11	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

UNICREDITO ITALIANO SPA (FORM .CREDITO ITALIANO)

Ticker:		Security ID:  IT0000064854
Meeting Date:  JUN 25, 2004		Meeting Type:  Special
Record Date:  JUN 18, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Amend Articles To Reflect New Italian Company Law Regulations; Introduce One New Article in the Bylaws; Cancel Rules Governing General Meetings As Part of the Company’s Bylaws	For	Did Not Vote	Management
1	Approve Rules Governing General Meetings	For	Did Not Vote	Management

146

UNILEVER N.V.

Ticker:  UN		Security ID:  NL0000009348
Meeting Date:  MAY 12, 2004		Meeting Type:  Annual
Record Date:  MAY 5, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Report by Remuneration Committe	None	Did Not Vote	Management
2	Approve Financial Statements and Allocation of Income and Dividends	For	Did Not Vote	Management
3	Approve Discharge of Board of Directors	For	Did Not Vote	Management
4	Discussion of Company’s Corporate Governance Report; Amend Articles Re: Adopt One-Tier Board Structure; Enable Shareholders to Override Binding Nominations for Appointment of Directors; Other Changes	For	Did Not Vote	Management
5.1	Elect A. Burgmans as Executive Director	For	Did Not Vote	Management
5.2	Elect A. Butler as Executive Director	For	Did Not Vote	Management
5.3	Elect P. Cescau as Executive Director	For	Did Not Vote	Management
5.4	Elect K. Dadiseth as Executive Director	For	Did Not Vote	Management
5.5	Elect NWA Fitzgerald KBE as Executive Director	For	Did Not Vote	Management
5.6	Elect A. van Heemstra as Executive Director	For	Did Not Vote	Management
5.7	Elect R. Markham as Executive Director	For	Did Not Vote	Management
5.8	Elect C. van der Graaf as New Executive Director	For	Did Not Vote	Management
6.1	Elect Rt Hon The Lord of Brittan of Spennithorne QC DL as Non-Executive Director	For	Did Not Vote	Management
6.2	Elect Baroness Chalker of Wallasey as Non-Executive Director	For	Did Not Vote	Management
6.3	Elect B. Collomb as Non-Executive Director	For	Did Not Vote	Management
6.4	Elect W. Dik as Non-Executive Director	For	Did Not Vote	Management
6.5	Elect O. Fanjul as Non-Executive Director	For	Did Not Vote	Management
6.6	Elect C. Gonzalez as Non-Executive Director	For	Did Not Vote	Management
6.7	Elect H. Kopper as Non-Executive Director	For	Did Not Vote	Management
6.8	Elect Lord Simon of Highbury CBE as Non-Executive Director	For	Did Not Vote	Management
6.9	Elect van der Veer as Non-Executive Director	For	Did Not Vote	Management
7	Approve Remuneration of Non-Executive Directors in an Aggregate Amount of EUR 800,000	For	Did Not Vote	Management
8	Ratify PricewaterhouseCoopers as Auditors	For	Did Not Vote	Management
9	Grant Board Authority to Issue All Authorized Yet Unissued Shares Restricting/Excluding Preemptive Rights	For	Did Not Vote	Management
10	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
11	Authorize Board to Set Record Date for a Period of Five Years	For	Did Not Vote	Management
12	Allow Questions	None	Did Not Vote	Management

147

VALEO

Ticker:  VLEEY		Security ID:  FR0000130338
Meeting Date:  MAR 26, 2004		Meeting Type:  Annual/Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Financial Statements and Statutory Reports	For	Did Not Vote	Management
2	Accept Consolidated Financial Statements and Statutory Reports	For	Did Not Vote	Management
3	Approve Special Auditors’ Report Regarding Related-Party Transactions	For	Did Not Vote	Management
4	Approve Accounting Transfer of Holdings Account Balance to Carry-Forward Account	For	Did Not Vote	Management
5	Approve Accounting Transfer of Special Reserves Account Balance to Ordinary Reserves Account	For	Did Not Vote	Management
6	Approve Allocation of Income and Net Dividends of EUR 1.05 per Share	For	Did Not Vote	Management
7	Authorize Repurchase of Up to Ten Percent of Issued Share Capital	For	Did Not Vote	Management
8	Ratify PricewaterhouseCoopers Audit S.A. as Auditors	For	Did Not Vote	Management
9	Ratify RSM Salustro Reydel as Auditors	For	Did Not Vote	Management
10	Ratify Yves Nicolas as Alternate Auditors	For	Did Not Vote	Management
11	Ratify Philippe Arnaud as Alternate Auditors	For	Did Not Vote	Management
12	Approve Stock Option Plan Grants	For	Did Not Vote	Management
13	Approve Reduction in Share Capital via Cancellation of Repurchased Shares	For	Did Not Vote	Management
14	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of EUR 76.22 Million and Set Global Limit for Capital Increase to Result From All Issuance Requests Under Items 14-16 to EUR 100 Million	For	Did Not Vote	Management
15	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of EUR 76.22 Million and Set Global Limit for Capital Increase to Result From All Issuance Requests Under Items 14-16 to EUR 100 Million	For	Did Not Vote	Management
16	Authorize Capitalization of Reserves for Bonus Issue or Increase in Par Value to an Aggregate Amount of EUR 76.22 Million and Set Global Limit for Capital Increase to Result From All Issuance Requests Under Items 14-16 to EUR 100 Million	For	Did Not Vote	Management
17	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan up to Aggregate Nominal Amount of EUR 3.45 Million	For	Did Not Vote	Management
18	Approve Capital Increase Reserved for Employees Participating in Savings-Related Share Purchase Plan up to Aggregate Nominal Amount of EUR 150,000	For	Did Not Vote	Management
19	Approve Issuance of Shares to Societe Generale for Use in Savings-Related Share Purchase Plan for Company Employees Located Outside France	For	Did Not Vote	Management
20	Approve Issuance of Shares with Warrants Attached to Participants of Savings-Related Share Purchase Plan	For	Did Not Vote	Management
21	Amend Articles of Association Pursuant to 2003 Financial Security Legislation Re: Shareholding Disclosure	For	Did Not Vote	Management
22	Amend Articles of Association Pursuant to 2003 Financial Security Legislation Re: Powers of Chairman	For	Did Not Vote	Management
23	Amend Articles of Association Pursuant to 2003 Financial Security Legislation Re: Powers of Management Board	For	Did Not Vote	Management
24	Amend Articles of Association Pursuant to 2003 Financial Security Legislation Re: Related-Party Transactions	For	Did Not Vote	Management
25	Authorize Filing of Required Documents/Other Formalities	For	Did Not Vote	Management

148

VESTEL ELEKTRONIK SANAYI

Ticker:  VEKSY		Security ID:  TRAVESTL91H6
Meeting Date:  JUN 7, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Open Meeting	None	Did Not Vote	Management
2	Elect Presiding Council of Meeting	For	Did Not Vote	Management
3	Authorize Presiding Council to Sign Minutes of Meeting	For	Did Not Vote	Management
4	Receive Board Report	None	Did Not Vote	Management
5	Receive Financial Statements	None	Did Not Vote	Management
6	Receive Consolidated Financial Statements	None	Did Not Vote	Management
7	Receive Statutory Reports	None	Did Not Vote	Management
8	Accept Financial Statements and Statutory Reports	For	Did Not Vote	Management
9	Approve Allocation of Income	For	Did Not Vote	Management
10	Approve Discharge of Board	For	Did Not Vote	Management
11	Approve Discharge of Internal Auditors	For	Did Not Vote	Management
12	Fix Number of and Elect Directors	For	Did Not Vote	Management
13	Fix Number of and Elect Internal Auditors	For	Did Not Vote	Management
14	Approve Remuneration of Directors	For	Did Not Vote	Management
15	Approve Remuneration of Internal Auditors	For	Did Not Vote	Management
16	Ratify Appointment of Arilar Bagimsiz Denetleme A.S. as Independent External Auditors	For	Did Not Vote	Management
17	Approve Donations Made in Financial Year 2003	For	Did Not Vote	Management
18	Grant Permission for Board Members to Engage in Commercial Transaction with the Company and Be Involved with Companies with Similar Corporate Purpose	For	Did Not Vote	Management
19	Wishes	None	Did Not Vote	Management

VODAFONE GROUP PLC

Ticker:		Security ID:  GB0007192106
Meeting Date:  JULY 30, 2003		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 Remuneration Report	For	Did Not Vote	Management
3	Reelect Lord MacLaurin of Knebworth as Director	For	Did Not Vote	Management
4	Reelect Kenneth Hydon as Director	For	Did Not Vote	Management
5	Reelect Thomas Geitner as Director	For	Did Not Vote	Management
6	Reelect Alec Broers as Director	For	Did Not Vote	Management
7	Reelect Juergen Schrempp as Director	For	Did Not Vote	Management
8	Elect John Buchanan as Director	For	Did Not Vote	Management
9	Approve Final Dividend of 0.8983 Pence Per Share	For	Did Not Vote	Management
10	Ratify Deloitte and Touche as Auditors	For	Did Not Vote	Management
11	Authorize Board to Fix Remuneration of Auditors	For	Did Not Vote	Management
12	Authorize EU Political Donations up to GBP 100,000	For	Did Not Vote	Management
13	Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to Aggregate Nominal Amount of USD 900,000,000	For	Did Not Vote	Management
14	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights up to Aggregate Nominal Amount of USD 340,000,000	For	Did Not Vote	Management
15	Authorize 6,800,000,000 Shares for Share Repurchase Program	For	Did Not Vote	Management

149

VOLGATELECOM (FRMRLY. NIZHNOSVYZINFORM)

Ticker:		Security ID:  RU0009058234
Meeting Date:  JUN 22, 2004		Meeting Type:  Annual
Record Date:  MAY 3, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve Annual Report, Financial Statements and Allocation of Income	For	For	Management
2	Approve Allocation of Dividends of RUR 0,9186 per Ordinary Share and RUR 2,4510 per Preferred Share	For	For	Management
3	Amend Charter	For	Against	Management
4	Amend Regulations on Board of Directors	For	Against	Management
5	Amend Regulations on Executive Board	For	Against	Management
6	Amend Regulations on Inspection Committee (Audit Commission)	For	Against	Management
7.1	Elect Vladimir Andreev as Director	For	Withhold	Management
7.2	Reelect Maxim Bobin as Director	For	For	Management
7.3	Reelect Alla Grigorieva as Director	For	Withhold	Management
7.4	Elect Liudmila Devyatkina as Director	For	Withhold	Management
7.5	Elect Valery Degtyarev as Director	For	Withhold	Management
7.6	Reelect Vladimir Dudchenko as Director	For	Withhold	Management
7.7	Elect Dmitry Efimov as Director	For	For	Management
7.8	Reelect Elena Zabuzova as Director	For	Withhold	Management
7.9	Elect Denis Kulikov as Director	For	For	Management
7.10	Reelect Vladimir Lyulin as Director	For	Withhold	Management
7.11	Reelect Georgy Romsky as Director	For	Withhold	Management
7.12	Reelect Victor Savchenko as Director	For	Withhold	Management
7.13	Reelect Oleg Fedorov as Director	For	For	Management
7.14	Elect Alexander Khaustovich as Director	For	Withhold	Management
7.15	Reelect Sergei Chernogorodsky as Director	For	Withhold	Management
7.16	Reelect Evgeny Yurchenko as Director	For	Withhold	Management
8.1	Elect Sergei Alekhin as Member of Inspection Committee (Audit Commission)	For	For	Management
8.2	Elect Konstantin Belyaev as Member of Inspection Committee (Audit Commission)	For	For	Management
8.3	Elect Elena Degtyareva as Member of Inspection Committee (Audit Commission)	For	For	Management
8.4	Elect Sergei Tikhonov as Member of Inspection Committee (Audit Commission)	For	For	Management
8.5	Elect Kirill Frolov as Member of Inspection Committee (Audit Commission)	For	For	Management
9	Ratify Ernst & Young Vneshaudit, Moscow as Auditors	For	For	Management
10	Approve Remuneration of Board of Directors	For	For	Management

150

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	For	Management
2	Accept Audit Committee’s Report	For	For	Management
3	Accept Supervisory Board Report	For	For	Management
4	Accept Financial Statements	For	For	Management
5	Accept Report Re: Share Repurchase Reserve	For	For	Management
6	Cancel 27.6 Million Series C Treasury Shares	For	For	Management
7	Approve Conversion of Class C Shares into Class V Shares, Increasing Voting Rights of Class C Shareholders	For	For	Management
8	Approve Allocation of Income	For	For	Management
9	Approve Dividend of MXN 0.44 Per Share Payable in Cash or Shares	For	For	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	For	Management
11	Amend Articles	For	For	Management
12	Accept Report Re: Employee Stock Option Plan	For	Against	Management
13	Accept Report Re: Wal-Mart de Mexico Foundation	For	For	Management
14	Approve Discharge of Directors	For	For	Management
15	Elect Members of Management and Supervisory Boards	For	For	Management
16	Approve Minutes of Meeting	For	For	Management

WIENERBERGER AG (FM. WIENERBERGER BAUSTOFFINDUSTRIE AG)

Ticker:		Security ID:  AT0000831706
Meeting Date:  MAY 11, 2004		Meeting Type:  Annual
Record Date:
		��
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Receive Financial Statements and Statutory Reports	None	Did Not Vote	Management
2	Approve Allocation of Income	For	Did Not Vote	Management
3	Approve Discharge of Management and Supervisory Boards	For	Did Not Vote	Management
4	Ratify Auditors	For	Did Not Vote	Management
5	Elect Supervisory Board Members	For	Did Not Vote	Management
6	Amend Articles Re; Takeover Provisions	For	Did Not Vote	Management
7	Authorize Share Repurchase Program and Reissuance of Repurchased Shares	For	Did Not Vote	Management
8	Approve Stock Option Plan for Key Employees; Approve Creation of EUR 1 Million Pool of Conditional Capital to Guarantee Conversion Rights	For	Did Not Vote	Management
9	Approve Creation of EUR 31.6 Million Pool of Conditional Capital without Preemptive Rights	For	Did Not Vote	Management

151

WILLIAM HILL PLC

Ticker:		Security ID:  GB0031698896
Meeting Date:  MAY 17, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Remuneration Report	For	For	Management
3	Approve Final Dividend of 9 Pence Per Ordinary Share	For	For	Management
4	Re-elect David Allvey as Director	For	For	Management
5	Re-elect Barry Gibson as Director	For	For	Management
6	Re-appoint Deloitte and Touche LLP as Auditors of the Company	For	For	Management
7	Authorise Board to Fix Remuneration of the Auditors	For	For	Management
8	Amend the 2004 Senior Management Operating Bonus Scheme, the William Hill Executive Director Incentive Plan, the William Hill Long Term Incentive Plan and the William Hill SAYE Share Option Schemes	For	For	Management
9	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 14,060,370	For	For	Management
10	Amend Articles of Association Re: Disapplication of Pre-emptive Rights	For	For	Management
11	Amend Articles of Association Re: Treasury Shares	For	For	Management
12	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount Equal to Five Percent of the Issued Share Capital	For	For	Management
13	Authorise 42,811,111 Ordinary Shares for Market Purchase	For	For	Management

152

WIMM-BILL-DANN FOODS OJSC

Ticker:		Security ID:  97263M109
Meeting Date:  JUN 22, 2004		Meeting Type:  Annual
Record Date:  MAY 5, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	ELECTION OF THE COUNTING COMMITTEE: LIMONOVA, OLGA MIKHAILOVNA	For	For	Management
2	ELECTION OF THE COUNTING COMMITTEE: NOSOVA, NATALYA YURIEVNA	For	For	Management
3	ELECTION OF THE COUNTING COMMITTEE: KOLESNIKOV, ILYA MIKHAILOVVICH	For	For	Management
4	ELECTION OF THE COUNTING COMMITTEE: SOLNTSEVA, EVGENIYA SOLOMONOVNA	For	For	Management
5	ELECTION OF THE COUNTING COMMITTEE: TYUSINA, IRINA ANATOLIEVNA	For	For	Management
6	APPROVAL OF THE ANNUAL REPORT OF WBD FOODS	For	For	Management
7	APPROVAL OF THE FINANCIAL STATEMENTS FOR 2003	For	For	Management
8	THE NET PROFIT REFLECTED IN THE FINANCIAL STATEMENTS FOR 2003	For	For	Management
9	APPROVAL OF THE COMPANY S AUDITOR FOR 2004	For	For	Management
10	A NEW VERSION OF THE BYLAW	For	Against	Management
11.1	Elect Director De Selliers, G.	For	For	Management
11.2	Elect Director Dubinin, M.V.	For	For	Management
11.3	Elect Director O’Neill, M.	For	For	Management
11.4	Elect Director Orlov, A.S.	For	For	Management
11.5	Elect Director Plastinin, S.A.	For	For	Management
11.6	Elect Director Tutelyan, V.A.	For	For	Management
11.7	Elect Director Sherbak, V.N.	For	For	Management
11.8	Elect Director Iakobachvili, D.	For	For	Management
11.9	Elect Director Yasin, E.G.	For	For	Management
11.10	Elect Director Tipton, E.L.	For	For	Management
12	ELECTION OF THE COMPANY S AUDIT COMMITTEE: BOCHAROVA, NINA NIKOLAEVNA	For	For	Management
13	ELECTION OF THE COMPANY S AUDIT COMMITTEE: GORSHECHNIKOVA, ELENA VASILIEVNA	For	For	Management
14	ELECTION OF THE COMPANY S AUDIT COMMITTEE: KUZNETSOVA, ELENA BORISOVNA	For	For	Management
15	ELECTION OF THE COMPANY S AUDIT COMMITTEE: KOLESNIKOVA, NATALYA NIKOLAEVNA	For	For	Management
16	ELECTION OF THE COMPANY S AUDIT COMMITTEE: NAUMOVA, MARINA ALEKSANDROVNA	For	For	Management
17	ELECTION OF THE COMPANY S AUDIT COMMITTEE: ROMANOVA, NATALYA VIKTOROVNA	For	For	Management
18	ELECTION OF THE COMPANY S AUDIT COMMITTEE: SMIRNOVA, ELENA VLADIMIROVNA	For	For	Management
19	CONCERNING REMUNERATION AND REIMBURSEMENT	For	For	Management
20	TSARITSINO DAIRY OJSC (SELLER)	For	For	Management

WIMM-BILL-DANN FOODS OJSC

Ticker:		Security ID:  97263M109
Meeting Date:  MAR 24, 2004		Meeting Type:  Special
Record Date:  FEB 27, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	WBD FOODS WILL PROVIDE DEPSONA CJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
2	WBD FOODS WILL PROVIDE DEPSONA CJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
3	WBD FOODS WILL PROVIDE WIMM-BILL-DANN TRADE COMPANY CJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
4	WBD FOODS WILL PROVIDE WIMM-BILL-DANN TRADE COMPANY CJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
5	WBD FOODS WILL PROVIDE RAMENSKOYE DAIRY OJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
6	KHARKIV DAIRY PLANT AOOT (SELLER) WILL SELL, AND WBD FOODS (BUYER) WILL ACCEPT AND PAY FOR 1,066,611,600 SHARES OF SELLER S ADDITIONAL STOCK ISSUE AT THE PRICE OF 0.05 HRYVNIA PER SHARE, FOR A TOTAL PRICE OF 53,330,580 HRYVNI.	For	For	Management
7	WBD FOODS WILL PROVIDE WIMM-BILL-DANN TRADE COMPANY CJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management
8	WBD FOODS WILL PROVIDE TSARITSINO DAIRY OJSC (BORROWER) WITH A REPAYABLE (REVOLVING) LOAN IN RUBLES	For	For	Management

153

WIMM-BILL-DANN FOODS OJSC

Ticker:		Security ID:  97263M109
Meeting Date:  MAY 12, 2004		Meeting Type:  Special
Record Date:  APR 6, 2004
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	WBD FOODS OJSC SHALL PARTICIPATE IN GERMAN ECONOMY UNION IN THE RUSSIAN FEDERATION (HEREINAFTER-GERMAN ECONOMY UNION).	For	Against	Management
2	WBD FOODS OJSC CHAIRMAN OF THE MANAGEMENT BOARD MR. S.A. PLASTININ BE CHARGED TO FULFILL ALL REQUIRED ARRANGEMENTS TO PARTICIPATE IN GERMAN ECONOMY UNION, INCLUDING TERMS OF PARTICIPATION DEFINITION.	For	Against	Management

WPP GROUP PLC

Ticker:  WPPG10		Security ID:  GB0009740423
Meeting Date:  APR 7, 2004		Meeting Type:  Special
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Approve 2004 Leadership Equity Acquisition Plan	For	For	Management

154

WPP GROUP PLC

Ticker:  WPPG10		Security ID:  GB0009740423
Meeting Date:  JUN 28, 2004		Meeting Type:  Annual
Record Date:
#	Proposal	Mgt Rec	Vote Cast	Sponsor
1	Accept Financial Statements and Statutory Reports	For	For	Management
2	Approve Final Dividend of 4.4 Pence Per Ordinary Share	For	For	Management
3a	Elect Orit Gadiesh as Director	For	For	Management
3b	Elect Koichiro Naganuma as Director	For	For	Management
3c	Elect Paul Spencer as Director	For	For	Management
3d	Re-elect Philip Lader as Director	For	For	Management
3e	Re-elect Jeremy Bullmore as Director	For	For	Management
3f	Re-elect John Jackson as Director	For	For	Management
3g	Re-elect Stanley Morten as Director	For	For	Management
3h	Re-elect John Quelch as Director	For	For	Management
4	Re-appoint Deloitte and Touche LLP as Auditors and Authorise Board to Fix Remuneration of Auditors	For	For	Management
5	Authorise Issuance of Equity or Equity-Linked Securities with Pre-emptive Rights up to Aggregate Nominal Amount of GBP 39,334,225	For	For	Management
6	Authorise Issuance of Equity or Equity-Linked Securities without Pre-emptive Rights up to Aggregate Nominal Amount of GBP 5,900,134	For	For	Management
7	Authorise 118,002,676 Ordinary Shares for Market Purchase	For	For	Management
8	Approve Remuneration Report	For	For	Management
9	Amend the Capital Investment Plan	For	For	Management
10	Amend the Notional Share Award Plan	For	For	Management
11	Approve Increase in Remuneration of Non-Executive Directors from GBP 450,000 to GBP 1,000,000	For	For	Management

JULIUS BAER TOTAL RETURN BOND FUND

The fund did not hold any portfolio securities with respect to which the fund was entitled to vote during the period from July 1, 2003 through June 30, 2004.

155

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)	Julius Baer Investment Funds
By  (Signature and Title)*
		/s/ Michael K. Quain
		Michael K. Quain, President
Date		August 20,  2004

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