UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF Global Biotechnology Fund Japanese Equity Fund Top 50 US Fund Each a Series of Scudder Investors Funds, Inc. Investment Company Act file number 811-08227 Scudder Investors Funds, Inc. (Exact name of registrant as specified in charter) One South Street Baltimore, MD 21202 (Address of principal executive offices) (Zip code) John Millette Secretary Two International Place Boston, MA 02110 (Name and address of agent for service) Registrant's telephone number, including area code: 617-295-1000 Date of fiscal year end: 08/31 ----- Date of reporting period: 7/1/03-6/30/04 ---------------- Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. Vote Summary Report from 07/01/03 to 06/30/04. Sorted by Company Name. In All Markets, for all statuses, for DEUTSCHE INVESTORS GLOBAL BIOTECHNOLOGY. Mtg Company/ Security/ Mgmt Vote Date/Type Ballot Issues Proponent Rec Cast - ------------------------------------------------------------------------------------------------------------------------------------ 04/30/04 AGM ACTELION CH0010532478 N/A 0 1 Receive Financial Statements and Statutory Reports 2 Receive Consolidated Financial Statements and Statutory Reports (Non-Voting) 3 Accept Financial Statements and Statutory Reports Mgmt For 4 Approve Allocation of Income and Omission of Dividends Mgmt For 5 Approve Discharge of Board and Senior Management Mgmt For 6 Reelect Werner Henrich as Director; Elect Armin Kessler and Mgmt For Jean Malo as Directors 7 Reelect PricewaterhouseCoopers AG as Auditors Mgmt For 8.1.1 Approve Stock Option Plan for Key Employees; Approve Creation of CHF 2.3 Million Pool of Conditional Capital to Guarantee Mgmt For Conversion Rights 8.1.2 Amend Incentive Stock Option Plan Mgmt For 8.2 Amend Articles Re: Extend Authorization to Create a CHF 10 Million Pool of Conditional Capital with Preemptive Rights until April 2006 Mgmt For 9 Transact Other Business (Non-Voting) 06/17/04 Elan AGM Corporation Plc IE0003072950 N/A 17,000 Ordinary Business 1 Receive and Consider Financial Statements and Statutory Reports Mgmt For For 2 Reelect Brendan Boushel as Director Mgmt For For 3 Reelect John Groom as Director Mgmt For For 4 Reelect Kyran McLaughlin as Director Mgmt For For 5 Reelect Dennis Selkoe as Director Mgmt For For 6 Reelect Daniel Tully as Director Mgmt For For 7 Authorize Board to Fix Remuneration of Auditors Mgmt For For Special Business 8 Approve Stock Option Plan Grants to Non-Executives Mgmt For Against 9 Approve Restricted Stock Plan Mgmt For Against 10 Approve Employee Equity Purchase Plan Mgmt For For 11 Authorize Issuance of Equity or Equity-Linked Securities with Preemptive Rights up to the Amount of the Authorized but Unissued Share Capital Mgmt For For 12 Approve Increase in Authorized Capital Mgmt For For 13 Amend Articles to Reflect Changes in Authorized Capital Mgmt For For 14 Authorize Directors to Allot Equity Securities for Cash without Preemptive Rights up to 40 Million Shares Mgmt For For 15 Authorize Company to Make Market Purchases of Own Shares Mgmt For For 16 Authorize Reissuance of Repurchased Shares Mgmt For For 05/26/04 QLT Inc. With 4/13/2004 3,000 AGM QLT CA7469271026 1 Approve Deloitte & Touche LLP as Auditors and Authorize Board to Fix Remuneration of Auditors Mgmt For For 2 Fix Number of Directors at Eight Mgmt For For 3.1 Elect E. Duff Scott as a Director Mgmt For For 3.2 Elect Paul J. Hastings as a Director Mgmt For For 3.3 Elect Julia G. Levy as a Director Mgmt For For 3.4 Elect C. Boyd Clarke as a Director Mgmt For For 3.5 Elect Peter A. Crossgrove as a Director Mgmt For For 3.6 Elect Ronald D. Henriksen as a Director Mgmt For For 3.7 Elect Alan C. Mendelson as a Director Mgmt For For 3.8 Elect L. Jack Wood as a Director Mgmt For For ProxyEdge - Investment Company Report Report Date: 07/19/2004 Meeting Date Range: 07/01/2003 to 06/30/2004 Selected Accounts: Japanese Equity Fund Japanese Equity Fund, a series of Scudder Investors Funds, Inc., is a feeder in a master/feeder structure. Accordingly, Japanese Equity Fund holds only securities of its master fund, Japanese Equity Portfolio, a series of Scudder Investors Portfolios Trust. Included in this filing is the proxy voting record for the Japanese Equity Portfolio. Vote Summary Report from 07/01/03 to 06/30/04. Sorted by Company Name. In All Markets, for all statuses, for DEUTSCHE JAPANESE EQUITY PORTFOLIO. Mtg Company/ Security/ Mgmt Vote Date/Type Ballot Issues Proponent Rec Cast ==================================================================================================================================== 06/25/04 AGM Advantest Corp. JP3122400009 3/31/2004 7,500 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 15, Final JY 25, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's Discretion - Limit Directors' and Statutory Auditors' Legal 2 Liability Mgmt For Against 3 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Executive Stock Option Plan Mgmt For For 05/12/04 AGM Aeon Credit Service With Ltd. JP3131400008 2/20/2004 6,670 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 25, Final JY 35, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Share Repurchases at Board's Discretion - Abolish Retirement 2 Bonus System Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For For Approve Special Payments to Directors and Statutory For Auditors in Connection with Abolition of Retirement Bonus 5 System Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 6 Directors Mgmt For 05/17/04 AGM AEON MALL CO. LTD. JP3131430005 With For 2/20/2004 10,100 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 25, Special JY 0 Mgmt For For Amend Articles to: Reduce Directors' Term in Office - 2 Authorize Share Repurchases at Board's Discretion Mgmt For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors Mgmt For For 06/29/04 AGM Amada Co. Ltd. JP3122800000 3/31/2004 90,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 4 Approve Retirement Bonus for Director Mgmt For For 06/29/04 AGM Asahi Kasei Corporation JP3111200006 3/31/2004 128,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 3, Special JY 0 Mgmt For For Amend Articles to: Clarify Director Authorities - Authorize Share Repurchases at Board's Discretion - Amend Business 2 Lines Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and Statutory 5 Auditor Mgmt For For 06/24/04 AGM Bandai Co. Ltd. JP3778600001 3/31/2004 14,500 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 15, Final JY 7.5, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 180 Million to 360 Million Shares - Authorize Share Repurchases 2 at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonus for Director and Approve Special Payments to Continuing Directors in Connection with the 5 Abolition of Retirement Bonus System Mgmt For Against Approve Retirement Bonus for Statutory Auditor and Approve Special Payments to Continuing Statutory Auditors in 6 Connection with the Abolition of Retirement Bonus System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 7 Statutory Auditors Mgmt For For 8 Approve Executive Stock Option Plan Mgmt For For 03/30/04 AGM Bridgestone Corp. JP3830800003 With 12/31/2003 15,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 8, Final JY 8, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 3 Discretion Mgmt For For 4 Elect Director Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 6 Auditor Mgmt For For 7 Approve Executive Stock Option Plan Mgmt For For 03/30/04 AGM Canon Inc. JP3242800005 With 12/31/2003 66,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 15, Final JY 35, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 3.22 Elect Director Mgmt For For 3.23 Elect Director Mgmt For For 3.24 Elect Director Mgmt For For 3.25 Elect Director Mgmt For For 3.26 Elect Director Mgmt For For 3.27 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For For 5 Appoint Additional External Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 6 Auditors Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 7 Directors and Statutory Auditors Mgmt For For 06/25/04 AGM Citizen Electronics JP3352200004 3/31/2004 7,100 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 8, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 4.8 Elect Director Mgmt For For 4.9 Elect Director Mgmt For For 5 Appoint Internal Statutory Auditor Mgmt For Against 06/29/04 AGM Credit Saison Co. With Ltd. JP3271400008 3/31/2004 11,900 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 18, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors Mgmt For For 06/29/04 AGM Dai Nippon Printing With Co. Ltd. JP3493800001 3/31/2004 59,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 9.5, Final JY 11.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors Mgmt For For 06/29/04 AGM Daiwa House Industry Co. Ltd. JP3505000004 3/31/2004 34,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 15, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors Mgmt For For 06/24/04 AGM Denso Corp. JP3551500006 With 3/31/2004 70,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 11, Final JY 13, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Expand Business Lines - Reduce Board Size - Reduce Directors Term in Office - Authorize Share 3 Repurchases at Board's Discretion Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 4.8 Elect Director Mgmt For For 4.9 Elect Director Mgmt For For 4.1 Elect Director Mgmt For For 4.11 Elect Director Mgmt For For 4.12 Elect Director Mgmt For For 4.13 Elect Director Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For 6 Amend Stock Option Plans Approved at Last Four AGMs Mgmt For For 7 Approve Retirement Bonuses for Directors Mgmt For For 06/23/04 AGM East Japan Railway CoJP3783600004 3/31/2004 331 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3000, Final JY 3000, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 3 Discretion Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 4.8 Elect Director Mgmt For For 4.9 Elect Director Mgmt For For 4.1 Elect Director Mgmt For For 4.11 Elect Director Mgmt For For 4.12 Elect Director Mgmt For For 4.13 Elect Director Mgmt For For 4.14 Elect Director Mgmt For For 4.15 Elect Director Mgmt For For 4.16 Elect Director Mgmt For For 4.17 Elect Director Mgmt For For 4.18 Elect Director Mgmt For For 4.19 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.21 Elect Director Mgmt For For 4.22 Elect Director Mgmt For For 4.23 Elect Director Mgmt For For Approve Retirement Bonuses for Directors and Special Payments to Directors and Statutory Auditors in Connection 5 with Abolition of Retirement Bonus System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 6 Statutory Auditors Mgmt For For 06/29/04 AGM Fanuc Ltd. JP3802400006 3/31/2004 9,100 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 11, Final JY 12, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Adjustment to Aggregate Compensation Ceilings for 5 Directors and Statutory Auditors Mgmt For For Approve Retirement Bonuses for Directors and Statutory 6 Auditor Mgmt For For 06/29/04 AGM Fuji Soft ABC Inc. JP3816600005 3/31/2004 17,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 9, Special JY 2 Mgmt For For Amend Articles to: Change Location of Head Office - 2 Authorize Share Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 4 Approve Retirement Bonus for Director Mgmt For For 06/23/04 AGM Goldcrest Co. Ltd. JP3306800008 3/31/2004 8,320 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 40, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonus for Statutory Auditor Mgmt For Against 06/25/04 AGM Hitachi Chemical Co. Ltd. JP3785000005 3/31/2004 81,600 Amend Articles to: Authorize Share Repurchases at Board's 1 Discretion Mgmt For Against 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 2.5 Elect Director Mgmt For For 2.6 Elect Director Mgmt For Against 2.7 Elect Director Mgmt For Against 2.8 Elect Director Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 06/29/04 AGM Hitachi Construction Machinery Co. Ltd. JP3787000003 3/31/2004 52,000 Amend Articles to: Increase Authorized Capital from 300 Million to 700 Million Shares - Authorize Share Repurchases 1 at Board's Discretion Mgmt For Against 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 2.5 Elect Director Mgmt For For 2.6 Elect Director Mgmt For Against 2.7 Elect Director Mgmt For Against 2.8 Elect Director Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 06/18/04 AGM Hoya Corp. JP3837800006 With 3/31/2004 12,100 Amend Articles to: Expand Business Lines - Authorize Share 1 Repurchases at Board's Discretion Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 2.5 Elect Director Mgmt For For 2.6 Elect Director Mgmt For For 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 3 Approve Executive Stock Option Plan Mgmt For For 06/29/04 AGM Isetan Co. Ltd. JP3140000005 3/31/2004 27,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5, Final JY 5, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 2.5 Elect Director Mgmt For For 2.6 Elect Director Mgmt For For 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For Against 4 Approve Executive Stock Option Plan Mgmt For For Approve Retirement Bonuses for Director and Statutory 5 Auditors Mgmt For Against 06/18/04 AGM JSR Corp. JP3385980002 With 3/31/2004 108,900 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 5, Special JY 0 Mgmt For For Amend Articles to: Reduce Share Trading Unit from 1000 to 100 - Reduce Directors' Term in Office - Authorize Share 2 Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For For 4.4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 5 Auditor Mgmt For For 06/29/04 AGM Kamigumi Co. Ltd. JP3219000001 3/31/2004 93,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 8.5, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Share 2 Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonus for Director Mgmt For For 06/24/04 AGM KDDI Corporation JP3496400007 3/31/2004 167 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 1200, Final JY 2400, Special JY 0 Mgmt For For Amend Articles to: Abolish Retirement Bonus System - 2 Authorize Share Repurchases at Board's Discretion Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 4 Amend Stock Option Plans Approved at 2002 and 2003 AGMs Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 5.3 Appoint Internal Statutory Auditor Mgmt For Against 5.4 Appoint Internal Statutory Auditor Mgmt For Against 6 Approve Retirement Bonuses for Statutory Auditors Mgmt For For Approve Special Payments to Directors and Statutory Auditor 7 in Connection with the Abolition of Retirement Bonus System Mgmt For For 06/25/04 AGM Komatsu Ltd. JP3304200003 3/31/2004 105,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 4, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Share 2 Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 6 Directors and Statutory Auditors Mgmt For For 7 Approve Retirement Bonus for Statutory Auditor Mgmt For For 06/29/04 AGM Komori Corp. JP3305800009 3/31/2004 21,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 9, Final JY 9, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 3 Discretion Mgmt For Against 4.1 Appoint Internal Statutory Auditor Mgmt For Against 4.2 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Retirement Bonus for Statutory Auditor Mgmt For Against 12/25/03 AGM Marui Co. Ltd. JP3870400003 With 9/30/2003 56,300 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 15, Special JY 0 Mgmt For For Amend Articles to: Allow Share Repurchases at Board's 2 Discretion Mgmt For For 06/29/04 AGM Marui Co. Ltd. JP3870400003 3/31/2004 48,600 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 11, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.3 Elect Director Mgmt For For 2.4 Elect Director Mgmt For For 3.1 Appoint Internal Statutory Auditor Mgmt For Against 3.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 4 Auditor Mgmt For Against 06/29/04 AGM Matsushita Electric Industrial Co. Ltd. JP3866800000 3/31/2004 65,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 6.25, Final JY 6.25, Special JY 1.5 Mgmt For For Amend Articles to: Amend Business Lines - Authorize Share 2 Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonuses for Directors Mgmt For For 6 Approve Retirement Bonuses for Statutory Auditors Mgmt For Against 06/24/04 AGM Mitsubishi Corp. JP3898400001 3/31/2004 32,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 6, Special JY 2 Mgmt For For Amend Articles to: Reduce Directors' Term in Office - 2 Authorize Share Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 4.3 Appoint Internal Statutory Auditor Mgmt For Against 4.4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For Approve Retirement Bonuses for Directors and Statutory 6 Auditors Mgmt For Against 06/29/04 AGM Mitsubishi Estate Co. Ltd. JP3899600005 3/31/2004 153,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 4, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Share 2 Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For Against 4.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 5 Auditor Mgmt For Against 6 Appoint External Auditors Mgmt For For 7 Approve Executive Stock Option Plan Mgmt For For 06/29/04 AGM Mitsubishi Tokyo Financial Group Inc JP3902900004 3/31/2004 288 Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 6000, 1 Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 5 Auditor Mgmt For Against 06/24/04 AGM Mitsui & Co. JP3893600001 3/31/2004 162,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 4, Special JY 0 Mgmt For For Amend Articles to: Reduce Directors' Term in Office - 2 Authorize Share Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 5 Statutory Auditors Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditor and Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with the 6 Abolition of Retirement Bonus System Mgmt For Against 06/24/04 AGM Mitsui O.S.K. Lines With Ltd. JP3362700001 3/31/2004 207,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 6, Special JY 1 Mgmt For For Amend Articles to: Expand Board Eligibility - Authorize 2 Share Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 4 Approve Retirement Bonus for Director Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For 06/25/04 AGM MIZUHO FINANCIAL GROUP INC. JP3885780001 3/31/2004 1,107 Management Proposals Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3000, 1 Special JY 0 Mgmt For For 2 Approve Reduction in Legal Reserves Mgmt For For 3 Authorize Repurchase of Preferred Shares Mgmt For For Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary 4 Shares Mgmt For For 5.1 Elect Director Mgmt For For 5.2 Elect Director Mgmt For For 5.3 Elect Director Mgmt For For 6.1 Appoint Internal Statutory Auditor Mgmt For For 6.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 7 Auditors Mgmt For Against Shareholder Proposals Amend Articles to Require Disclosure of Retirement Bonuses 8 Paid to Each Retiring Director and Statutory Auditor ShrHoldr Against For Amend Articles to Require Disclosure of Individual 9 Compensation Levels of Each Director and Statutory Auditor ShrHoldr Against For 06/25/04 AGM Mori Seiki Co. Ltd. JP3924800000 3/31/2004 45,600 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Abolish Retirement Bonus System - 2 Authorize Share Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with the Abolition of 4 Retirement Bonus System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 5 Directors Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 6 Statutory Auditors Mgmt For For 7 Approve Executive Stock Option Plan Mgmt For For 06/25/04 AGM Nichii Gakkan CompanyJP3660900006 3/31/2004 11,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 15, Special JY 2.5 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Share 2 Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 5 Auditor Mgmt For For 06/23/04 AGM Nidec Corp. JP3734800000 3/31/2004 6,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 12.5, Final JY 15, Special JY 2.5 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Retirement Bonuses for Directors Mgmt For For 06/24/04 AGM Nippon Shokubai Co. Ltd. JP3715200006 3/31/2004 115,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Retirement Bonus for Statutory Auditor Mgmt For Against 06/25/04 AGM Nippon Steel Corp. JP3381000003 With 3/31/2004 310,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 1.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For For 4 Approve Retirement Bonuses for Statutory Auditors Mgmt For For 06/23/04 AGM Nissan Motor Co. Ltd.JP3672400003 3/31/2004 93,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 8, Final JY 11, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For 4 Authorize Share Repurchase Program Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For Against 5.3 Appoint Internal Statutory Auditor Mgmt For For 5.4 Appoint Internal Statutory Auditor Mgmt For For 5.5 Appoint Internal Statutory Auditor Mgmt For For 6 Approve Retirement Bonuses for Statutory Auditors Mgmt For Against 05/14/04 AGM Nitori Co. JP3756100008 With 2/20/2004 8,350 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 7, Final JY 8, Special JY 0 Mgmt For For 2 Amend Articles to: Extend Internal Auditors' Term in Office Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For For 4.4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditors and Approve Special Payments to Directors and Statutory Auditor in Connection with the Abolition of 5 Retirement Bonus System Mgmt For For 06/24/04 AGM Nitto Denko Corp. JP3684000007 3/31/2004 37,100 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 17, Final JY 23, Special JY 0 Mgmt For For Amend Articles to: Reduce Board Size - Increase Number of Internal Auditors - Abolish Retirement Bonus System - Authorize Share Repurchases at Board's Discretion - 2 Streamline Board Structure Mgmt For For 3 Approve Executive Stock Option Plan Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 5.3 Appoint Internal Statutory Auditor Mgmt For Against 5.4 Appoint Internal Statutory Auditor Mgmt For Against 6 Approve Deep Discount Stock Option Plan Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 7 Statutory Auditors Mgmt For For Approve Retirement Bonuses for Directors and Statutory 8 Auditors Mgmt For For Approve Special Payments to Directors and Statutory Auditors in Connection with the Abolition of Retirement 9 Bonus System Mgmt For Against 06/29/04 AGM NOK Corp. JP3164800009 3/31/2004 18,700 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 8, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For Against 3.3 Appoint Internal Statutory Auditor Mgmt For For 3.4 Appoint Internal Statutory Auditor Mgmt For Against 3.5 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Director and Statutory 4 Auditors Mgmt For Against 06/25/04 AGM Nomura Holdings Inc. JP3762600009 With 3/31/2004 80,000 Amend Articles to: Authorize Share Repurchases at Board's 1 Discretion Mgmt For For Approve Executive Stock Option Plan and Deep-Discount Stock 2 Option Plan Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 06/29/04 AGM Obayashi Corp. JP3190000004 3/31/2004 219,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For For 3.3 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 4 Auditors Mgmt For For 06/29/04 AGM Oji Paper Co., Ltd. JP3174410005 3/31/2004 66,000 Management Proposals Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 6, Special JY 0 Mgmt For Against Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonus for Director Mgmt For For Shareholder Proposals Approve Amendment to Income Allocation Plan, with Final 6 Dividend of JY 11 Per Share ShrHoldr Against For Approve Amendment to Income Allocation Plan, to Eliminate 7 Director Bonuses ShrHoldr Against Against 8 Remove Director From Board ShrHoldr Against Against 06/24/04 AGM Omron Corp. JP3197800000 3/31/2004 13,200 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 6.5, Final JY 6.5, Special JY 7 Mgmt For For Amend Articles to: Abolish Retirement Bonus System - Authorize Share Repurchases at Board's Discretion - Limit 2 Outside Directors' Legal Liability Mgmt For For 3 Authorize Share Repurchase Program Mgmt For For Approve Transfer of Company's ATM Business to Joint Venture 4 with Hitachi Ltd. Mgmt For For Approve Transfer of Company's Amusement Machine Components 5 Business to Wholly-Owned Subsidiary Mgmt For For 6 Elect Director Mgmt For For 7 Appoint Internal Statutory Auditor Mgmt For For Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of 8 Retirement Bonus System Mgmt For Against 9 Approve Executive Stock Option Plan Mgmt For For 06/25/04 AGM Ricoh Co. Ltd. JP3973400009 3/31/2004 127,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 8, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 4.3 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Retirement Bonuses for Directors Mgmt For Against 06/26/04 AGM Round One Corp. JP3966800009 3/31/2004 226 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 800, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 1,167,600 Shares to 2,328,800 Shares - Authorize Share Repurchases at Board's Discretion - Authorize Appointment 2 of Alternate Statutory Auditors Mgmt For Against 3.1 Appoint Alternate Statutory Auditor Mgmt For For 3.2 Appoint Alternate Statutory Auditor Mgmt For For 4 Approve Executive Stock Option Plan Mgmt For For 06/24/04 AGM Sharp Corp. JP3359600008 3/31/2004 60,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 8, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 3.22 Elect Director Mgmt For For 3.23 Elect Director Mgmt For For 3.24 Elect Director Mgmt For For 3.25 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 4.3 Appoint Internal Statutory Auditor Mgmt For For Approve Special Bonus for Family of Deceased Director and 5 Approve Retirement Bonuses for Directors Mgmt For For 06/29/04 AGM Shimizu Corp. JP3358800005 3/31/2004 141,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 2.5, Final JY 2.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 4.3 Appoint Internal Statutory Auditor Mgmt For For 4.4 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and Statutory 5 Auditor Mgmt For For 06/29/04 AGM SMC Corp. JP3162600005 With 3/31/2004 10,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 19, Final JY 19, Special JY 10 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory 5 Auditor Mgmt For For 6 Appoint External Auditor Mgmt For For 06/29/04 AGM Sumitomo Forestry Co. Ltd. JP3409800004 3/31/2004 41,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 6.5, Final JY 6.5, Special JY 0 Mgmt For For Amend Articles to: Change Location of Head Office - 2 Authorize Share Repurchases at Board's Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 5 Auditor Mgmt For For 06/29/04 AGM SUMITOMO MITSUI FINANCIAL GROUP INC. JP3890350006 3/31/2004 159 Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3000, 1 Special JY 0 Mgmt For For Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary 2 Shares - Authorize Share Repurchases at Board's Discretion Mgmt For For 3 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Director and Statutory 5 Auditor Mgmt For Against 06/29/04 AGM Sumitomo Realty & With Development Co. Ltd. JP3409000001 3/31/2004 54,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 9, Special JY 0 Mgmt For For Approve Introduction of New Compensation System for 2 Directors Tied to Company Performance Mgmt For For Approve Special Payments to Directors in Connection with 3 Abolition of Retirement Bonus System Mgmt For For 4 Amend Articles to: Abolish Retirement Bonus System Mgmt For For 06/29/04 AGM Sumitomo Trust & Banking Co. Ltd. JP3405000005 3/31/2004 186,000 Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 6, 1 Special JY 0 Mgmt For For Amend Articles to: Decrease Authorized Preferred Share Capital to Reflect Conversion of Preferred to Ordinary 2 Shares - Authorize Share Repurchases at Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and Statutory 5 Auditors Mgmt For For 05/25/04 AGM Takashimaya Co. Ltd. JP3456000003 With 2/29/2004 74,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3.75, Final JY 3.75, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 06/29/04 AGM Takeda Chemical With Industries Ltd. JP3463000004 3/31/2004 37,900 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 36, Final JY 41, Special JY 0 Mgmt For For Amend Articles to: Change Company Name in English to Takeda Pharmaceutical Co. Ltd. - Authorize Share Repurchases at 2 Board's Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonus for Statutory Auditor Mgmt For For 06/25/04 AGM TIS Inc. (frm. Toyo Information Systems) JP3612800007 3/31/2004 14,500 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 10, Final JY 15, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 4.3 Appoint Internal Statutory Auditor Mgmt For Against Approve Retirement Bonuses for Directors and Statutory 5 Auditor Mgmt For Against 6 Approve Executive Stock Option Plan Mgmt For For 06/29/04 AGM Tokyo Gas Co. Ltd. JP3573000001 3/31/2004 400,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 4, Special JY 0 Mgmt For For Amend Articles to: Allow Appointment of Alternate Statutory 2 Auditors - Authorize Share Repurchases at Board's DiscretionMgmt For For 3 Authorize Share Repurchase Program Mgmt For For 4.1 Elect Director Mgmt For For 4.2 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.4 Elect Director Mgmt For For 4.5 Elect Director Mgmt For For 4.6 Elect Director Mgmt For For 4.7 Elect Director Mgmt For For 4.8 Elect Director Mgmt For For 4.9 Elect Director Mgmt For For 4.1 Elect Director Mgmt For For 4.11 Elect Director Mgmt For For 4.12 Elect Director Mgmt For For 5 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory 6 Auditor Mgmt For Against 06/29/04 AGM Toto Ltd. JP3596200000 With 3/31/2004 39,000 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5.5, Final JY 5.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 4 Approve Retirement Bonus for Director Mgmt For For 06/23/04 AGM Toyota Motor Corp. JP3633400001 3/31/2004 129,200 Management Proposals Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 20, Final JY 25, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 3.13 Elect Director Mgmt For For 3.14 Elect Director Mgmt For For 3.15 Elect Director Mgmt For For 3.16 Elect Director Mgmt For For 3.17 Elect Director Mgmt For For 3.18 Elect Director Mgmt For For 3.19 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.21 Elect Director Mgmt For For 3.22 Elect Director Mgmt For For 3.23 Elect Director Mgmt For For 3.24 Elect Director Mgmt For For 3.25 Elect Director Mgmt For For 3.26 Elect Director Mgmt For For 3.27 Elect Director Mgmt For For 4 Approve Executive Stock Option Plan Mgmt For For 5 Authorize Share Repurchase Program Mgmt For For Approve Retirement Bonuses for Directors and Special Bonus 6 for Family of Deceased Director Mgmt For For Shareholder Proposals Approve Alternate Allocation of Income, with a Final 7 Dividend of JY 40 Per Share ShrHoldr Against Against Amend Articles of Incorporation to Require Disclosure of Individual Compensation Levels of Directors and Statutory 8 Auditors ShrHoldr Against Against Amend Articles of Incorporation to Prohibit Corporate Donations to Political Parties and Political Fundraising 9 Groups ShrHoldr Against Against 03/18/04 AGM UMC Japan JP3748500000 With 12/31/2003 255 1 Approve Allocation of Income, with No Dividends Mgmt For For Amend Articles to: Clarify Director Authorities - Authorize Share Repurchases at Board's Discretion - Limit Directors' and Internal Auditors' Legal Liability - Allow Appointment 2 of Alternate Statutory Auditors Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For For 5 Appoint Alternate Statutory Auditor Mgmt For For 6 Approve Executive Stock Option Plan Mgmt For For 06/29/04 AGM USS Co., Ltd. JP3944130008 3/31/2004 17,980 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 25, Final JY 25, Special JY 0 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For Against 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 3.1 Elect Director Mgmt For For 3.11 Elect Director Mgmt For For 3.12 Elect Director Mgmt For For 4 Approve Executive Stock Option Plan Mgmt For Against 06/23/04 AGM West Japan Railway CoJP3659000008 3/31/2004 453 Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 2500, Final JY 2500, Special JY 1500 Mgmt For For Amend Articles to: Authorize Share Repurchases at Board's 2 Discretion Mgmt For For 3.1 Elect Director Mgmt For For 3.2 Elect Director Mgmt For For 3.3 Elect Director Mgmt For For 3.4 Elect Director Mgmt For For 3.5 Elect Director Mgmt For For 3.6 Elect Director Mgmt For For 3.7 Elect Director Mgmt For For 3.8 Elect Director Mgmt For For 3.9 Elect Director Mgmt For For 4 Appoint Internal Statutory Auditor Mgmt For Against ProxyEdge - Investment Company Report Report Date: 07/27/2004 Meeting Date Range: 07/01/2003 to 06/30/2004 Selected Accounts: Scudder Top 50 US Fund Scudder Top 50 US Fund, a series of Scudder Investors Funds, Inc., is a feeder in a master/feeder structure. Accordingly, Scudder Top 50 US Fund holds only securities of its master fund, Top 50 Portfolio, a series of Scudder Investors Porfolios Trust. Included in this filing is the proxy voting record for the Top 50 Portfolio. ProxyEdge - Investment Company Report Report Date: 07/27/2004 Meeting Date Range: 07/01/2003 to 06/30/2004 Selected Accounts: Top 50 US Portfolio - ------------------------------------------------------------------------------------------------------------------------------------ ELECTRONIC ARTS INC. ERTS Annual Meeting Date: 07/31/2003 Issuer: 285512 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 AMENDMENT TO THE 2000 EQUITY INCENTIVE PLAN Management Against Yes 03 AMENDMENT TO THE 2000 EMPLOYEE STOCK PURCHASE Management For No PLAN 04 RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS Management For No - ------------------------------------------------------------------------------------------------------------------------------------ FOREST LABORATORIES, INC. FRX Annual Meeting Date: 08/11/2003 Issuer: 345838 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF AMENDMENT OF THE COMPANY S CERTIFICATE Shareholder Against Yes OF INCORPORATION TO AUTHORIZE ADDITIONAL SHARES OF THE COMPANY S COMMON STOCK. 03 RATIFICATION OF BDO SEIDMAN, LLP AS INDEPENDENT Management For No AUDITORS. - ------------------------------------------------------------------------------------------------------------------------------------ MEDTRONIC, INC. MDT Annual Meeting Date: 08/28/2003 Issuer: 585055 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS MEDTRONIC S INDEPENDENT AUDITORS 03 TO APPROVE MEDTRONIC S 2003 LONG-TERM INCENTIVE Management For No PLAN. 04 TO APPROVE MEDTRONIC S EXECUTIVE INCENTIVE PLAN. Management For No - ------------------------------------------------------------------------------------------------------------------------------------ THE PROCTER & GAMBLE COMPANY PG Annual Meeting Date: 10/14/2003 Issuer: 742718 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFY APPOINTMENT OF INDEPENDENT AUDITORS Management For No 03 APPROVE THE PROCTER & GAMBLE 2003 NON-EMPLOYEE Management Against Yes DIRECTORS STOCK PLAN 04 SHAREHOLDER PROPOSAL NO. 1 BOARD OF DIRECTORS Shareholder For Yes TERMS 05 SHAREHOLDER PROPOSAL NO. 2 LABEL GENETICALLY Shareholder Against No ENGINEERED FOODS - ------------------------------------------------------------------------------------------------------------------------------------ FIRST DATA CORPORATION FDC Special Meeting Date: 10/28/2003 Issuer: 319963 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 TO APPROVE THE ISSUANCE OF SHARES OF FIRST DATA Management For No COMMON STOCK AS CONTEMPLATED BY THE AGREEMENT AND PLAN OF MERGER, DATED AS OF APRIL 1, 2003, AMONG FIRST DATA CORPORATION, MONACO SUBSIDIARY CORPORATION, A WHOLLY OWNED SUBSIDIARY OF FIRST DATA CORPORATION, AND CONCORD EFS, INC. - ------------------------------------------------------------------------------------------------------------------------------------ AFFILIATED COMPUTER SERVICES, INC. ACS Annual Meeting Date: 10/30/2003 Issuer: 008190 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE THE PERFORMANCE-BASED INCENTIVE COMPENSATION Management For No FOR THE CORPORATION S EXECUTIVE OFFICERS. 03 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE CORPORATION S INDEPENDENT AUDITORS FOR FISCAL YEAR 2004. - ------------------------------------------------------------------------------------------------------------------------------------ CARDINAL HEALTH, INC. CAH Annual Meeting Date: 11/05/2003 Issuer: 14149Y ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------------ KLA-TENCOR CORPORATION KLAC Annual Meeting Date: 11/05/2003 Issuer: 482480 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS INDEPENDENT ACCOUNTANTS OF THE COMPANY FOR THE FISCAL YEAR ENDING JUNE 30, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ LINEAR TECHNOLOGY CORPORATION LLTC Annual Meeting Date: 11/05/2003 Issuer: 535678 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP Management For No AS INDEPENDENT AUDITORS OF THE COMPANY FOR THE FISCAL YEAR ENDING JUNE 27, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ SYSCO CORPORATION SYY Annual Meeting Date: 11/07/2003 Issuer: 871829 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF AMENDMENT TO RESTATED CERTIFICATE Shareholder Against Yes OF INCORPORATION TO INCREASE THE NUMBER OF SHARES OF COMMON STOCK THAT SYSCO WILL HAVE THE AUTHORITY TO ISSUE TO TWO BILLION (2,000,000,000). 03 APPROVAL OF THE 2003 STOCK INCENTIVE PLAN. Management Against Yes 04 SHAREHOLDER PROPOSAL REQUESTING THAT THE BOARD Shareholder Against No REVIEW THE COMPANY S POLICIES FOR FOOD PRODUCTS CONTAINING GENETICALLY ENGINEERED INGREDIENTS AND REPORT TO SHAREHOLDERS BY MARCH 2004. - ------------------------------------------------------------------------------------------------------------------------------------ CISCO SYSTEMS, INC. CSCO Annual Meeting Date: 11/11/2003 Issuer: 17275R ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE AN AMENDMENT AND RESTATEMENT OF THE Management For No EMPLOYEE STOCK PURCHASE PLAN, INCLUDING AN INCREASE OF 100,000,000 SHARES AUTHORIZED FOR ISSUANCE UNDER THE PLAN AND A 5-YEAR EXTENSION OF THE PLAN, AS MORE FULLY SET FORTH IN THE ACCOMPANYING PROXY STATEMENT. 03 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS CISCO S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING JULY 31, 2004. 04 PROPOSAL SUBMITTED BY A SHAREHOLDER THAT THE Shareholder Against No BOARD PREPARE A REPORT EACH FISCAL YEAR ON CISCO HARDWARE AND SOFTWARE PROVIDED TO GOVERNMENT AGENCIES AND STATE-OWNED COMMUNICATIONS OR INFORMATION TECHNOLOGY ENTITIES IN ANY COUNTRY, AS MORE FULLY SET FORTH IN THE ACCOMPANYING PROXY STATEMENT. 05 PROPOSAL SUBMITTED BY SHAREHOLDERS THAT THE BOARD Shareholder Against No S COMPENSATION COMMITTEE PREPARE AND MAKE AVAILABLE BY JANUARY 1, 2004, A REPORT COMPARING TOTAL COMPENSATION OF THE COMPANY S TOP EXECUTIVES AND ITS LOWEST PAID WORKERS IN THE U.S. AND ABROAD AS OF SPECIFIC DATES, AS MORE FULLY SET FORTH IN THE ACCOMPANYING PROXY STATEMENT. - ------------------------------------------------------------------------------------------------------------------------------------ MICROSOFT CORPORATION MSFT Annual Meeting Date: 11/11/2003 Issuer: 594918 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 ADOPTION OF THE AMENDMENTS TO THE 2001 STOCK PLAN Management Against Yes 03 ADOPTION OF THE AMENDMENTS TO THE 1999 STOCK Management Against Yes OPTION PLAN FOR NON-EMPLOYEE DIRECTORS 04 SHAREHOLDER PROPOSAL (THE BOARD RECOMMENDS A Shareholder Against No VOTE AGAINST THIS PROPOSAL) - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL GAME TECHNOLOGY IGT Annual Meeting Date: 03/02/2004 Issuer: 459902 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF THE AMENDMENT TO THE INTERNATIONAL Management For No GAME TECHNOLOGY EMPLOYEE STOCK PURCHASE PLAN. 03 RATIFICATION OF APPOINTMENT OF DELOITTE & TOUCHE Management For No LLP AS IGT S INDEPENDENT AUDITORS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ BANK OF AMERICA CORPORATION BAC Special Meeting Date: 03/17/2004 Issuer: 060505 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 ADOPTION OF THE MERGER AGREEMENT Management 02 ADOPTION OF BANK OF AMERICA S AMENDED STOCK PLAN Management 03 ADOPTION OF AN AMENDMENT TO INCREASE THE NUMBER Shareholder OF AUTHORIZED SHARES OF BANK OF AMERICA COMMON STOCK 04 APPROVAL OF PROPOSAL TO ADJOURN THE BANK OF AMERICA Management SPECIAL MEETING, IF NECESSARY, TO SOLICIT ADDITIONAL PROXIES - ------------------------------------------------------------------------------------------------------------------------------------ WHOLE FOODS MARKET, INC. WFMI Annual Meeting Date: 03/22/2004 Issuer: 966837 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO APPROVE THE AMENDMENT TO THE 1992 Management Against Yes INCENTIVE STOCK OPTION PLAN FOR TEAM MEMBERS. 03 RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG, Management For No LLP AS INDEPENDENT PUBLIC ACCOUNTANTS FOR FISCAL YEAR 2004. 04 SHAREHOLDER PROPOSAL REGARDING THE COMPANY S Shareholder For Yes SHAREHOLDER RIGHTS PLAN. - ------------------------------------------------------------------------------------------------------------------------------------ THE GOLDMAN SACHS GROUP, INC. GS Annual Meeting Date: 03/31/2004 Issuer: 38141G ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT BY THE AUDIT Management For No COMMITTEE OF THE BOARD OF DIRECTORS OF PRICEWATERHOUSECOOPERS LLP AS INDEPENDENT AUDITORS FOR THE 2004 FISCAL YEAR. 03 ANNUAL ELECTION OF ALL DIRECTORS TO THE BOARD Shareholder For Yes OF DIRECTORS. - ------------------------------------------------------------------------------------------------------------------------------------ UNITED TECHNOLOGIES CORPORATION UTX Annual Meeting Date: 04/14/2004 Issuer: 913017 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPOINTMENT OF INDEPENDENT AUDITORS Management For No 03 SHAREOWNER PROPOSAL CONCERNING DISCLOSURE OF Shareholder Against No EXECUTIVE COMPENSATION 04 SHAREOWNER PROPOSAL CONCERNING ETHICAL CRITERIA Shareholder Against No FOR MILITARY CONTRACTS 05 SHAREOWNER PROPOSAL CONCERNING PERFORMANCE BASED Shareholder For Yes SENIOR EXECUTIVE STOCK OPTIONS 06 SHAREOWNER PROPOSAL CONCERNING AN INDEPENDENT Shareholder For Yes CHAIRMAN OF THE BOARD - ------------------------------------------------------------------------------------------------------------------------------------ NOVELLUS SYSTEMS, INC. NVLS Annual Meeting Date: 04/16/2004 Issuer: 670008 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO RATIFY AND APPROVE THE APPOINTMENT Management For No OF ERNST & YOUNG LLP AS THE INDEPENDENT AUDITORS FOR THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. 03 SHAREHOLDER PROPOSAL REGARDING PROVISION OF NON-AUDIT Shareholder Against No SERVICES BY INDEPENDENT AUDITORS. 04 SHAREHOLDER PROPOSAL REGARDING EXECUTIVE COMPENSATION. Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ CITIGROUP INC. C Annual Meeting Date: 04/20/2004 Issuer: 172967 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO RATIFY THE SELECTION OF KPMG LLP Management For No AS CITIGROUP S INDEPENDENT AUDITORS FOR 2004. 03 STOCKHOLDER PROPOSAL REQUESTING A CURB ON EXECUTIVE Shareholder Against No COMPENSATION, NO FUTURE STOCK OPTION GRANTS AND NO RENEWALS OR EXTENSIONS OF OPTION PLANS. 04 STOCKHOLDER PROPOSAL REQUESTING A REPORT ON POLITICAL Shareholder Against No CONTRIBUTIONS. 05 STOCKHOLDER PROPOSAL REQUESTING A DISCONTINUATION Shareholder Against No OF ALL RIGHTS, OPTIONS, SAR S AND POSSIBLE SEVERANCE PAYMENTS TO THE TOP 5 OF MANAGEMENT. 06 STOCKHOLDER PROPOSAL REQUESTING THAT THE CHAIRMAN Shareholder For Yes OF THE BOARD HAVE NO MANAGEMENT DUTIES, TITLES OR RESPONSIBILITIES. - ------------------------------------------------------------------------------------------------------------------------------------ U.S. BANCORP USB Annual Meeting Date: 04/20/2004 Issuer: 902973 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFY SELECTION OF ERNST & YOUNG LLP AS INDEPENDENT Management For No AUDITORS FOR THE 2004 FISCAL YEAR. 03 SHAREHOLDER PROPOSAL: COMPENSATION SYSTEM FOR Shareholder Against No SENIOR EXECUTIVES. 04 SHAREHOLDER PROPOSAL: SUPPLEMENTAL EXECUTIVE Shareholder Against No RETIREMENT BENEFITS. 05 SHAREHOLDER PROPOSAL: SIMPLE MAJORITY VOTING. Shareholder For Yes - ------------------------------------------------------------------------------------------------------------------------------------ INCO LIMITED N Special Meeting Date: 04/21/2004 Issuer: 453258 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 APPROVAL OF THE BY-LAW CONFIRMATION RESOLUTION. Management For No 02 DIRECTORS Management For No 03 APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS AUDITORS. Management For No 04 ON SUCH OTHER BUSINESS AS MAY PROPERLY COME BEFORE Management Against Yes THE MEETING. - ------------------------------------------------------------------------------------------------------------------------------------ JOHNSON & JOHNSON JNJ Annual Meeting Date: 04/22/2004 Issuer: 478160 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No AS INDEPENDENT AUDITORS 03 PROPOSAL ON CHARITABLE CONTRIBUTIONS Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ PFIZER INC. PFE Annual Meeting Date: 04/22/2004 Issuer: 717081 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 A PROPOSAL TO APPROVE THE APPOINTMENT OF KPMG Management For No LLP AS INDEPENDENT AUDITORS FOR 2004. 03 A PROPOSAL TO APPROVE THE PFIZER INC. 2004 STOCK Management For No PLAN. 04 SHAREHOLDER PROPOSAL REQUESTING REVIEW OF THE Shareholder Against No ECONOMIC EFFECTS OF THE HIV/AIDS, TB AND MALARIA PANDEMICS ON THE COMPANY S BUSINESS STRATEGY. 05 SHAREHOLDER PROPOSAL RELATING TO POLITICAL CONTRIBUTIONS. Shareholder Against No 06 SHAREHOLDER PROPOSAL RELATING TO AN ANNUAL REPORT Shareholder Against No ON CORPORATE RESOURCES DEVOTED TO SUPPORTING POLITICAL ENTITIES OR CANDIDATES. 07 SHAREHOLDER PROPOSAL SEEKING TO IMPOSE TERM LIMITS Shareholder Against No ON DIRECTORS. 08 SHAREHOLDER PROPOSAL REQUESTING A REPORT ON INCREASING Shareholder Against No ACCESS TO PFIZER PRODUCTS. 09 SHAREHOLDER PROPOSAL ON STOCK OPTIONS. Shareholder Against No 10 SHAREHOLDER PROPOSAL ON IN VITRO TESTING. Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ ABBOTT LABORATORIES ABT Annual Meeting Date: 04/23/2004 Issuer: 002824 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF DELOITTE & TOUCHE LLP AS AUDITORS. Management For No 03 SHAREHOLDER PROPOSAL - PRESCRIPTION DRUGS. Shareholder Against No 04 SHAREHOLDER PROPOSAL - POLITICAL CONTRIBUTIONS. Shareholder Against No 05 SHAREHOLDER PROPOSAL - OPTION GRANTS FOR SENIOR Shareholder Against No EXECUTIVES. 06 SHAREHOLDER PROPOSAL - GLOBAL INFECTIOUS DISEASES. Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ MERRILL LYNCH & CO., INC. MER Annual Meeting Date: 04/23/2004 Issuer: 590188 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFY APPOINTMENT OF DELOITTE & TOUCHE LLP AS Management For No INDEPENDENT AUDITOR 03 INSTITUTE CUMULATIVE VOTING Shareholder Against No 04 INDEPENDENT CHAIRMAN SEPARATE FROM CHIEF EXECUTIVE Shareholder For Yes OFFICER - ------------------------------------------------------------------------------------------------------------------------------------ FORTUNE BRANDS, INC. FO Annual Meeting Date: 04/27/2004 Issuer: 349631 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS INDEPENDENT AUDITORS FOR 2004. 03 STOCKHOLDER PROPOSAL ENTITLED SHAREHOLDER VOTE Shareholder For Yes ON POISON PILLS TO ADOPT THE FOLLOWING RESOLUTION: THE SHAREHOLDERS OF OUR COMPANY REQUEST THAT OUR BOARD OF DIRECTORS SEEK SHAREHOLDER APPROVAL AT THE EARLIEST SUBSEQUENT SHAREHOLDER ELECTION, FOR THE ADOPTION, MAINTENANCE OR EXTENSION OF ANY CURRENT OR FUTURE POISON PILL. - ------------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL BUSINESS MACHINES CORP IBM Annual Meeting Date: 04/27/2004 Issuer: 459200 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF INDEPENDENT ACCOUNTANTS Management For No (PRICEWATERHOUSECOOPERS LLP) (PAGE 22) 03 RATIFICATION OF APPOINTMENT OF INDEPENDENT ACCOUNTANTS Management For No FOR THE BUSINESS CONSULTING SERVICES UNIT (ERNST & YOUNG LLP) (PAGE 22) 04 APPROVAL OF LONG-TERM INCENTIVE PERFORMANCE TERMS Management Against Yes FOR CERTAIN EXECUTIVES (PAGE 23) 05 STOCKHOLDER PROPOSAL ON: CUMULATIVE VOTING (PAGE Shareholder Against No 25) 06 STOCKHOLDER PROPOSAL ON: PENSION AND RETIREMENT Shareholder Against No MEDICAL (PAGE 25) 07 STOCKHOLDER PROPOSAL ON: EXECUTIVE COMPENSATION Shareholder Against No (PAGE 26) 08 STOCKHOLDER PROPOSAL ON: EXPENSING STOCK OPTIONS Shareholder For Yes (PAGE 28) 09 STOCKHOLDER PROPOSAL ON: DISCLOSURE OF EXECUTIVE Shareholder Against No COMPENSATION (PAGE 29) 10 STOCKHOLDER PROPOSAL ON: CHINA BUSINESS PRINCIPLES Shareholder Against No (PAGE 30) 11 STOCKHOLDER PROPOSAL ON: POLITICAL CONTRIBUTIONS Shareholder Against No (PAGE 31) 12 STOCKHOLDER PROPOSAL ON: A REVIEW OF EXECUTIVE Shareholder Against No COMPENSATION POLICIES (PAGE 32) - ------------------------------------------------------------------------------------------------------------------------------------ MERCK & CO., INC. MRK Annual Meeting Date: 04/27/2004 Issuer: 589331 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF THE COMPANY Management For No S INDEPENDENT AUDITORS FOR 2004 03 PROPOSAL TO AMEND THE RESTATED CERTIFICATE OF Management For No INCORPORATION TO DECLASSIFY THE BOARD OF DIRECTORS THE BOARD OF DIRECTORS RECOMMENDS A VOTE AGAINST ITEMS 4 THROUGH 8 04 STOCKHOLDER PROPOSAL CONCERNING MANAGEMENT COMPENSATION Shareholder Against No 05 STOCKHOLDER PROPOSAL CONCERNING EXTENSION OF Shareholder Against No PRESCRIPTION DRUG PATENTS 06 STOCKHOLDER PROPOSAL CONCERNING ETHICAL AND SOCIAL Shareholder Against No PERFORMANCE OF THE COMPANY 07 STOCKHOLDER PROPOSAL CONCERNING USE OF SHAREHOLDER Shareholder Against No RESOURCES FOR POLITICAL PURPOSES 08 STOCKHOLDER PROPOSAL CONCERNING A REPORT RELATED Shareholder Against No TO THE GLOBAL HIV/AIDS PANDEMIC - ------------------------------------------------------------------------------------------------------------------------------------ PRAXAIR, INC. PX Annual Meeting Date: 04/27/2004 Issuer: 74005P ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO AMEND THE LONG TERM INCENTIVE PLAN. Management For No 03 PROPOSAL TO AMEND THE CERTIFICATE OF INCORPORATION. Shareholder For No 04 PROPOSAL TO APPROVE A STOCKHOLDER PROTECTION Management Against Yes RIGHTS AGREEMENT. - ------------------------------------------------------------------------------------------------------------------------------------ GENERAL ELECTRIC COMPANY GE Annual Meeting Date: 04/28/2004 Issuer: 369604 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 0A DIRECTOR Management For No 0B INDEPENDENT AUDITOR Management For No 0C REVENUE MEASUREMENT ADDED TO EXECUTIVE OFFICER Management For No PERFORMANCE GOALS 01 CUMULATIVE VOTING Shareholder For Yes 02 ANIMAL TESTING Shareholder Against No 03 NUCLEAR RISK Shareholder Against No 04 REPORT ON PCB CLEANUP COSTS Shareholder Against No 05 OFFSHORE SOURCING Shareholder Against No 06 SUSTAINABILITY INDEX Shareholder Against No 07 COMPENSATION COMMITTEE INDEPENDENCE Shareholder For Yes 08 PAY DISPARITY Shareholder Against No 09 END STOCK OPTIONS AND BONUSES Shareholder Against No 10 LIMIT OUTSIDE DIRECTORSHIPS Shareholder Against No 11 INDEPENDENT BOARD CHAIRMAN Shareholder For Yes 12 EXPLORE SALE OF COMPANY Shareholder Against No 13 HOLDING STOCK FROM STOCK OPTIONS Shareholder Against No 14 BOARD INDEPENDENCE Shareholder Against No 15 POLITICAL CONTRIBUTIONS Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ THE MCGRAW-HILL COMPANIES, INC. MHP Annual Meeting Date: 04/28/2004 Issuer: 580645 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF AMENDED AND RESTATED 2002 STOCK INCENTIVE Management For No PLAN. 03 RATIFICATION OF THE APPOINTMENT OF INDEPENDENT Management For No AUDITORS FOR 2004. 04 SHAREHOLDER PROPOSAL REQUESTING SHAREHOLDER VOTE Shareholder For Yes ON POISON PILLS . - ------------------------------------------------------------------------------------------------------------------------------------ XL CAPITAL LTD XL Annual Meeting Date: 04/30/2004 Issuer: G98255 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP, NEW YORK, TO ACT AS THE INDEPENDENT AUDITORS OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ AFLAC INCORPORATED AFL Consent Meeting Date: 05/03/2004 Issuer: 001055 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO CONSIDER AND APPROVE THE 2004 AFLAC INCORPORATED Management For No LONG-TERM INCENTIVE PLAN. 03 RATIFICATION OF APPOINTMENT OF KPMG LLP AS INDEPENDENT Management For No AUDITORS. - ------------------------------------------------------------------------------------------------------------------------------------ GANNETT CO., INC. GCI Annual Meeting Date: 05/04/2004 Issuer: 364730 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO RATIFY PRICEWATERHOUSECOOPERS LLP Management For No AS THE COMPANY S AUDITORS. 03 PROPOSAL TO AMEND 2001 OMNIBUS INCENTIVE COMPENSATION Management For No PLAN. 04 SHAREHOLDER PROPOSAL CONCERNING EXECUTIVE COMPENSATION. Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ APACHE CORPORATION APA Annual Meeting Date: 05/06/2004 Issuer: 037411 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE STOCKHOLDER PROPOSAL RELATING TO CLIMATE Shareholder Against No CHANGE. - ------------------------------------------------------------------------------------------------------------------------------------ FREEPORT-MCMORAN COPPER & GOLD INC. FCX Annual Meeting Date: 05/06/2004 Issuer: 35671D ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF ERNST & YOUNG Management For No LLP AS INDEPENDENT AUDITORS. 03 APPROVAL OF THE PROPOSED 2004 DIRECTOR COMPENSATION Management For No PLAN. 04 STOCKHOLDER PROPOSAL REGARDING FINANCIAL SUPPORT Shareholder Against No OF INDONESIAN GOVERNMENT SECURITY PERSONNEL - ------------------------------------------------------------------------------------------------------------------------------------ UNITED PARCEL SERVICE, INC. UPS Annual Meeting Date: 05/06/2004 Issuer: 911312 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF DELOITTE & Management For No TOUCHE LLP, INDEPENDENT AUDITORS, AS UPS S AUDITORS FOR THE YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------------ STERICYCLE, INC. SRCL Annual Meeting Date: 05/11/2004 Issuer: 858912 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF APPOINTMENT OF ERNST & YOUNG Management For No LLP AS THE COMPANY S INDEPENDENT PUBLIC ACCOUNTANTS FOR THE YEAR ENDING DECEMBER 31, 2004. 03 IF PRESENTED, A STOCKHOLDER PROPOSAL REGARDING Shareholder Against No A REPORT ON THE CESSATION OF INCINERATION. - ------------------------------------------------------------------------------------------------------------------------------------ ST. JUDE MEDICAL, INC. STJ Annual Meeting Date: 05/12/2004 Issuer: 790849 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 PROPOSAL TO RATIFY THE APPOINTMENT OF ERNST & Management For No YOUNG LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR 2004. 03 PROPOSAL TO APPROVE THE COMPANY S MANAGEMENT Management For No INCENTIVE COMPENSATION PLAN. 04 PROPOSAL TO INCREASE THE COMPANY S AUTHORIZED Shareholder For No SHARES OF COMMON STOCK TO 500 MILLION SHARES. 05 SHAREHOLDER PROPOSAL TO ADOPT THE COMMONSENSE Shareholder Against No EXECUTIVE COMPENSATION PROPOSAL. - ------------------------------------------------------------------------------------------------------------------------------------ AMGEN INC. AMGN Annual Meeting Date: 05/13/2004 Issuer: 031162 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO RATIFY THE SELECTION OF ERNST & YOUNG LLP Management For No AS INDEPENDENT AUDITORS OF THE COMPANY FOR THE YEAR ENDING DECEMBER 31, 2004. 3A STOCKHOLDER PROPOSAL #1 (EEO-1 REPORT). Shareholder Against No 3B STOCKHOLDER PROPOSAL #2 (STOCK OPTION EXPENSING). Shareholder For Yes - ------------------------------------------------------------------------------------------------------------------------------------ ENTERGY CORPORATION ETR Annual Meeting Date: 05/14/2004 Issuer: 29364G ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF EXTERNAL AUDITORS. Management For No 03 STOCKHOLDER PROPOSAL REGARDING LIMITING BENEFITS Management For Yes PAYABLE UNDER SEVERANCE AGREEMENTS. 04 STOCKHOLDER PROPOSAL REGARDING CUMULATIVE VOTING. Shareholder Against No 05 STOCKHOLDER PROPOSAL REGARDING COMPENSATION FOR Shareholder Against No THE TOP FIVE EXECUTIVES. - ------------------------------------------------------------------------------------------------------------------------------------ SUNGARD DATA SYSTEMS INC. SDS Annual Meeting Date: 05/14/2004 Issuer: 867363 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT AUDITORS FOR 2004. - ------------------------------------------------------------------------------------------------------------------------------------ GUIDANT CORPORATION GDT Annual Meeting Date: 05/18/2004 Issuer: 401698 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE APPOINTMENT OF ERNST & YOUNG Management For No LLP AS INDEPENDENT AUDITORS FOR 2004. 03 PROPOSAL BY SHAREHOLDER THAT THE BOARD ADOPT Shareholder For Yes A POLICY OF EXPENSING IN THE COMPANY S ANNUAL INCOME STATEMENT THE COST OF ALL FUTURE STOCK OPTIONS ISSUED BY THE COMPANY. - ------------------------------------------------------------------------------------------------------------------------------------ INTEL CORPORATION INTC Annual Meeting Date: 05/19/2004 Issuer: 458140 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS Management For No 03 APPROVAL OF THE 2004 EQUITY INCENTIVE PLAN Management For No 04 STOCKHOLDER PROPOSAL REQUESTING THE EXPENSING Shareholder For Yes OF STOCK OPTIONS 05 STOCKHOLDER PROPOSAL REQUESTING THE USE OF PERFORMANCE-VESTING Shareholder Against No STOCK 06 STOCKHOLDER PROPOSAL REQUESTING THE USE OF PERFORMANCE-BASED Shareholder For Yes STOCK OPTIONS - ------------------------------------------------------------------------------------------------------------------------------------ YUM] BRANDS, INC. YUM Annual Meeting Date: 05/20/2004 Issuer: 988498 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF THE PROPOSAL TO APPROVE THE COMPANY Management For No S EXECUTIVE INCENTIVE COMPENSATION PLAN (PAGE 18 OF PROXY) 03 RATIFICATION OF INDEPENDENT AUDITORS (PAGE 20 Management For No OF PROXY) 04 SHAREHOLDER PROPOSAL RELATING TO SMOKE-FREE FACILITIES Shareholder Against No (PAGE 21 OF PROXY) 05 SHAREHOLDER PROPOSAL RELATING TO A SUSTAINABILITY Shareholder Against No REPORT (PAGE 23 OF PROXY) 06 SHAREHOLDER PROPOSAL RELATING TO THE MACBRIDE Shareholder Against No PRINCIPLES (PAGE 26 OF PROXY) 07 SHAREHOLDER PROPOSAL RELATING TO A GENETICALLY Shareholder Against No ENGINEERED FOOD REPORT (PAGE 28 OF PROXY) 08 SHAREHOLDER PROPOSAL RELATING TO AN ANIMAL WELFARE Shareholder Against No STANDARDS REPORT (PAGE 31 OF PROXY) - ------------------------------------------------------------------------------------------------------------------------------------ BANK OF AMERICA CORPORATION BAC Annual Meeting Date: 05/26/2004 Issuer: 060505 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF INDEPENDENT PUBLIC ACCOUNTANTS Management For No 03 STOCKHOLDER PROPOSAL - ANNUAL MEETING DATE Shareholder Against No 04 STOCKHOLDER PROPOSAL - NOMINATION OF DIRECTORS Shareholder Against No 05 STOCKHOLDER PROPOSAL - CHARITABLE CONTRIBUTIONS Shareholder Against No 06 STOCKHOLDER PROPOSAL - MUTUAL FUND TRADING POLICIES Shareholder Against No 07 STOCKHOLDER PROPOSAL - PRIVACY AND INFORMATION Shareholder Against No SECURITY - ------------------------------------------------------------------------------------------------------------------------------------ EXXON MOBIL CORPORATION XOM Annual Meeting Date: 05/26/2004 Issuer: 30231G ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF INDEPENDENT AUDITORS (PAGE 27). Management For No 03 APPROVAL OF 2004 NON-EMPLOYEE DIRECTOR RESTRICTED Management For No STOCK PLAN (PAGE 28). 04 POLITICAL CONTRIBUTIONS (PAGE 30). Shareholder Against No 05 POLITICAL CONTRIBUTIONS REPORT (PAGE 32). Shareholder Against No 06 MEDIA RESPONSE ON EQUATORIAL GUINEA (PAGE 34). Shareholder Against No 07 BOARD CHAIRMAN AND CEO (PAGE 37). Shareholder For Yes 08 EXECUTIVE COMPENSATION (PAGE 39). Shareholder Against No 09 EQUITY COMPENSATION REPORT (PAGE 40). Shareholder Against No 10 AMENDMENT OF EEO POLICY (PAGE 42). Shareholder Against No 11 CLIMATE SCIENCE REPORT (PAGE 44). Shareholder Against No - ------------------------------------------------------------------------------------------------------------------------------------ WAL-MART STORES, INC. WMT Annual Meeting Date: 06/04/2004 Issuer: 931142 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF THE ASDA COLLEAGUE SHARE OWNERSHIP Management For No PLAN 1999 03 APPROVAL OF THE ASDA SHARESAVE PLAN 2000 Management For No 04 APPROVAL OF THE WAL-MART STORES, INC. 2004 ASSOCIATE Management For No STOCK PURCHASE PLAN 05 RATIFICATION OF THE APPOINTMENT OF INDEPENDENT Management For No ACCOUNTANTS 06 A SHAREHOLDER PROPOSAL REGARDING AN INDEPENDENT Shareholder For Yes CHAIRMAN 07 A SHAREHOLDER PROPOSAL REGARDING A SUSTAINABILITY Shareholder Against No REPORT 08 A SHAREHOLDER PROPOSAL REGARDING EQUITY COMPENSATION Shareholder Against No 09 A SHAREHOLDER PROPOSAL REGARDING GENETICALLY Shareholder Against No ENGINEERED FOOD PRODUCTS 10 A SHAREHOLDER PROPOSAL REGARDING AN EQUAL EMPLOYMENT Shareholder Against No OPPORTUNITY REPORT 11 A SHAREHOLDER PROPOSAL REGARDING SHAREHOLDER Shareholder Against No APPROVAL OF PARTICIPATION IN THE OFFICER DEFERRED COMPENSATION PLAN - ------------------------------------------------------------------------------------------------------------------------------------ INTERACTIVECORP IACI Annual Meeting Date: 06/23/2004 Issuer: 45840Q ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 THE PROPOSAL TO RATIFY THE APPOINTMENT OF ERNST Management For No & YOUNG LLP TO SERVE AS THE INDEPENDENT AUDITORS OF THE COMPANY FOR THE YEAR ENDING DECEMBER 31, 2004 SIGNATURES [See General Instruction F] 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) Scudder Investors Funds, Inc. By (Signature and Title)* /s/Julian Sluyters ----------------------------------------------- Julian Sluyters, Chief Executive Officer Date 8/18/04 --------- * Print the name and title of each signing officer under his or her signature.