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: 7/1/04-6/30/05 ---------------- 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. ProxyEdge - Investment Company Report Report Date: 08/06/2005 Meeting Date Range: 07/01/2004 to 06/30/2005 Selected Accounts: Scudder Inv Funds Inc. Global Biotechnology Fund - ------------------------------------------------------------------------------------------------------------------------------ MYLAN LABORATORIES INC. MYL Annual Meeting Date: 07/30/2004 Issuer: 628530 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------ CYPRESS BIOSCIENCE, INC. CYPB Annual Meeting Date: 08/17/2004 Issuer: 232674 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 BY THE AUDIT COMMITTEE OF THE COMPANY S BOARD OF DIRECTORS AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------ ALKERMES, INC. ALKS Annual Meeting Date: 09/23/2004 Issuer: 01642T ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE AN AMENDMENT TO THE 1999 STOCK OPTION Management Against Yes PLAN TO INCREASE TO 16,900,000 THE NUMBER OF SHARES ISSUABLE UPON EXERCISE OF OPTIONS GRANTED THEREUNDER, AN INCREASE OF 2,500,000 SHARES. - ------------------------------------------------------------------------------------------------------------------------------ ARRAY BIOPHARMA INC. ARRY Annual Meeting Date: 10/28/2004 Issuer: 04269X ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------ VICURON PHARMACEUTICALS, INC. MICU Annual Meeting Date: 10/28/2004 Issuer: 926471 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 ACCOUNTANTS. - ------------------------------------------------------------------------------------------------------------------------------ QLT INC. QLTI Special Meeting Date: 11/19/2004 Issuer: 746927 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 TO APPROVE THE ISSUANCE OF THE COMPANY S COMMON Management For No SHARES PURSUANT TO THE AGREEMENT AND PLAN OF MERGER, DATED AS OF JUNE 14, 2004, BY AND AMONG THE COMPANY, ASPEN ACQUISITION CORP., WHICH IS A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY, AND ATRIX LABORATORIES, INC. - ------------------------------------------------------------------------------------------------------------------------------ ENZON PHARMACEUTICALS, INC. ENZN Annual Meeting Date: 12/07/2004 Issuer: 293904 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 RATIFICATION OF THE SELECTION OF KPMG LLP TO Management For No AUDIT THE CONSOLIDATED FINANCIAL STATEMENTS OF THE COMPANY FOR THE FISCAL YEAR ENDING JUNE 30, 2005. - ------------------------------------------------------------------------------------------------------------------------------ ALEXION PHARMACEUTICALS, INC. ALXN Annual Meeting Date: 12/10/2004 Issuer: 015351 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 APPROVAL OF THE COMPANY S 2004 INCENTIVE PLAN. Management Against Yes 03 APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS Management For No THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. - ------------------------------------------------------------------------------------------------------------------------------ AMERICAN PHARMACEUTICAL PARTNERS, IN APPX Annual Meeting Date: 12/13/2004 Issuer: 02886P 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 AUDITORS. Management For No TO RATIFY THE APPOINTMENT OF ERNST & YOUNG LLP AS THE INDEPENDENT AUDITORS OF THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2004. - ------------------------------------------------------------------------------------------------------------------------------ BIOENVISION, INC. BIVN Annual Meeting Date: 12/17/2004 Issuer: 09059N ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 AMENDMENT TO 2003 STOCK INCENTIVE PLAN: TO APPROVE Management Against Yes AND ADOPT AN AMENDMENT TO OUR 2003 STOCK INCENTIVE PLAN TO INCREASE THE NUMBER OF SHARES THAT MAY BE GRANTED UNDER THE PLAN FROM 3,000,000 TO 4,500,000. 02 DIRECTOR Management For No - ------------------------------------------------------------------------------------------------------------------------------ PHARMACYCLICS, INC. PCYC Annual Meeting Date: 12/17/2004 Issuer: 716933 ISIN: SEDOL: - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 01 DIRECTOR Management For No 02 TO APPROVE COMPANY S 2004 EQUITY INCENTIVE AWARD Management Against Yes PLAN. 03 TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS Management For No LLP AS THE COMPANY S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING JUNE 30, 2005. Vote Summary Report (Long) 07/01/04 to 06/30/05 QLT Inc. Shares Voted 1,000 Security CA7469271026 Meeting Date 11/19/2004 Meeting Type EGM Ballot Issues Proponent Mgmt Vote Rec Cast 1 Approve Merger Agreement Mgmt For For Prior to 8/20/2004, the Japanese Equity Fund, a series of Scudder Investors Funds, Inc., was a feeder in a master/feeder structure. Accordingly, Japanese Equity Fund held only securities of its master fund, Japanese Eqity Portfolio, a series of Scudder Investors Portfolios Trust. On 8/20/2004, the master/feeder structure collapsed and the feeder fund acquired the securities of the master fund. Included in this filing is the proxy voting record for the Japanese Equity Portfolio through 8/19/2004 and the Japanese Equity Fund thereafter. ProxyEdge - Investment Company Report Meeting Date Range: 07/01/2004 to 06/30/05 Selected Accounts: Scudder Japanese Equity Portfolio Vote Summary Report (Long) 07/01/04 to 06/30/05 Fast Retailing Shares Voted 7,000 Security JP3802300008 Meeting Date 11/25/2004 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 50, Final JY 65, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 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 ProxyEdge - Investment Company Report Report Date: 08/12/2005 Meeting Date Range: 07/01/2004 to 06/30/2005 Selected Accounts: Scudder Japanese Equity Fund - ------------------------------------------------------------------------------------------------------------------------------ SEGA SAMMY HOLDINGS INC, TOKYO EGM Meeting Date: 02/15/2005 Issuer: J7028D104 ISIN: JP3419050004 SEDOL: B02RK08 - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 1 APPROVE TO REDUCE THE COMPANY S CAPITAL RESERVE Management For TO JPY 10,000,000,000 FROM THE PRESENT JPY 276,062,754,138 - ------------------------------------------------------------------------------------------------------------------------------ CANON INC AGM Meeting Date: 03/30/2005 Issuer: J05124144 ISIN: JP3242800005 SEDOL: 5485271, 6172323, B021CR1 - ------------------------------------------------------------------------------------------------------------------------------ Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ------------------------------------------------------------------------------------------------------------------------------ 1 APPROVE THE PROFIT APPROPRIATION FOR NO. 104 Management For TERM: DIVIDENDS FOR THE CURRENT T ERM HAS BEEN PROPOSED AS JYP40 PER SHARE JYP65 ON A YEARLY BASIS 2 AMEND THE COMPANY S ARTICLES OF INCORPORATION Management Against 3.1 ELECT MR. FUJIO MITARAI AS A DIRECTOR Management For 3.2 ELECT MR. YUKIO YAMASHITA AS A DIRECTOR Management For 3.3 ELECT MR. TOSHIZOU TANAKA AS A DIRECTOR Management For 3.4 ELECT MR. TSUNEJI UCHIDA AS A DIRECTOR Management For 3.5 ELECT MR. YUUSUKE EMURA AS A DIRECTOR Management For 3.6 ELECT MR. NOBUYOSHI TANAKA AS A DIRECTOR Management For 3.7 ELECT MR. JUNJI ICHIKAWA AS A DIRECTOR Management For 3.8 ELECT MR. HAJIME TSURUOKA AS A DIRECTOR Management For 3.9 ELECT MR. AKIYOSHI MOROE AS A DIRECTOR Management For 3.10 ELECT MR. KUNIO WATANABE AS A DIRECTOR Management For 3.11 ELECT MR. HIRONORI YAMAMOTO AS A DIRECTOR Management For 3.12 ELECT MR. YOUROKU ADACHI AS A DIRECTOR Management For 3.13 ELECT MR. YASUO MITSUHASHI AS A DIRECTOR Management For 3.14 ELECT MR. KATSUICHI SHIMIZU AS A DIRECTOR Management For 3.15 ELECT MR. RYOUICHI BAMBA AS A DIRECTOR Management For 3.16 ELECT MR. TOMONORI IWASHITA AS A DIRECTOR Management For 3.17 ELECT MR. TOSHIO HOMMA AS A DIRECTOR Management For 3.18 ELECT MR. SHIGERU IMAIIDA AS A DIRECTOR Management For 3.19 ELECT MR. MASSAHIRO OOSAWA AS A DIRECTOR Management For 3.20 ELECT MR. KEIJIROU YAMSZAKI AS A DIRECTOR Management For 3.21 ELECT MR. SHUNICHI UZAWA AS A DIRECTOR Management For 3.22 ELECT MR. MASAKI NAKAOKA AS A DIRECTOR Management For 3.23 ELECT MR. TOSHIYUKI KOMATSU AS A DIRECTOR Management For 3.24 ELECT MR. SHIGEYUKI MATSUMOTO AS A DIRECTOR Management For 3.25 ELECT MR. HARUHISA HONDA AS A DIRECTOR Management For 4 GRANT RETIREMENT ALLOWANCES TO THE RETIRING DIRECTORS: Management For MR. KINYA UCHIDA AND MR . IKUO SOUMA ACCORDING TO THE COMPANY RULE Vote Summary Report (Long) 07/01/04 to 06/30/05 Nitori Co. Shares Voted 0 Security Meeting Date 5/12/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following Dividends: Interim JY 7, Final JY 10, Special JY 0 Mgmt For Amend Articles to: Expand Business Lines - Limit Legal 2 Liability of Directors and Statutory Auditors Mgmt For 3.1 Elect Director Mgmt For 3.2 Elect Director Mgmt For 3.3 Elect Director Mgmt For 3.4 Elect Director Mgmt For 3.5 Elect Director Mgmt For 3.6 Elect Director Mgmt For 4.1 Appoint Internal Statutory Auditor Mgmt For 4.2 Appoint Internal Statutory Auditor Mgmt For 4.3 Appoint Internal Statutory Auditor Mgmt For Approve Adjustment to Aggregate Compensation Ceiling for 5 Directors and Statutory Auditors Mgmt For AEON MALL CO. LTD. Shares Voted 12,000 Security Meeting Date 5/13/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 30, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 2.9 Elect Director Mgmt For For 2.1 Elect Director Mgmt For For 2.11 Elect Director Mgmt For For 2.12 Elect Director Mgmt For For 2.13 Elect Director Mgmt For For 3.1 Appoint Internal Statutory Auditor Mgmt For Against 3.2 Appoint Internal Statutory Auditor Mgmt For Against 3.3 Appoint Internal Statutory Auditor Mgmt For Against 4 Approve Retirement Bonuses for Statutory Auditors Mgmt For Against Hoya Corp. Shares Voted 15,300 Security J22848105 Meeting Date 6/17/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Amend Articles to: Decrease Authorized Capital to Reflect 1 Share Repurchase and Cancellation 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 4 Appoint External Audit Firm Mgmt For For JSR Corp. Shares Voted 221,600 Security J2856K106 Meeting Date 6/17/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 7, Final JY 7, Special JY 0 Mgmt For For 2 Amend Articles to: Reduce Maximum Board Size 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 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For Against 5 Approve Deep Discount Stock Option Plan Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 6 Statutory Auditors Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditors and Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement 7 Bonus System Mgmt For Against Nissan Motor Co. Ltd. Shares Voted 313,000 Security J57160129 Meeting Date 6/21/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 12, Final JY 12, Special JY 0 Mgmt For For Amend Articles to Delete Language Specifying Term in Office of 2 Statutory Auditors in Office on or Before March 31, 2003 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 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 For 6 Approve Retirement Bonuses for Directors and Statutory Auditors Mgmt For For Approve Adjustment to Aggregate Compensation Ceilings for 7 Directors and Statutory Auditors Mgmt For For Japan Associated Finance Co. Ltd. Shares Voted Security (JAFCO) 21,700 J25832106 Meeting Date 6/22/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 25, Special JY 0 Mgmt For For 2 Approve Executive Stock 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 4.1 Appoint Internal Statutory Auditor Mgmt For Against 4.2 Appoint Internal Statutory Auditor Mgmt For Against 4.3 Appoint Internal Statutory Auditor Mgmt For For Nippon Shokubai Co. Ltd. Shares Voted 336,000 Security J55806103 Meeting Date 6/22/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5, Final JY 6, Special JY 2 Mgmt For For 2 Amend Articles to: Abolish Retirement 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 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 Approve Retirement Bonuses for Directors and Statutory Auditors and Special Payments to Continuing Directors and Auditors in Connection with Abolition of Retirement Bonus 5 System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceilings for 6 Directors and Statutory Auditors Mgmt For For Denso Corp. Shares Voted 49,300 Security J12075107 Meeting Date 6/22/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 13, Final JY 19, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Authorize Public Announcements in 3 Electronic Format 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 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 6 Approve Executive Stock Option Plan Mgmt For For 7 Approve Retirement Bonuses for Directors and Statutory Auditor Mgmt For Against Nidec Corp. Shares Voted 16,300 Security J52968104 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 20, Final JY 25, Special JY 0 Mgmt For For Amend Articles to: Abolish Retirement Bonus System - Create Post of Chairman - Authorize Public Announcements in 2 Electronic Format 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 4 Approve Retirement Bonuses for Directors Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 5 Directors and Statutory Auditors Mgmt For For Honda Motor Co. Ltd. Shares Voted 13,900 Security J22302111 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 28, Final JY 37, Special JY 0 Mgmt For For Amend Articles to: Reduce Maximum Board Size - Decrease 2 Authorized Capital to Reflect Share Repurchase 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 4 Appoint Internal Statutory Auditor Mgmt For For 5 Appoint External Auditors Mgmt For For Approve Reduction in Aggregate Compensation Ceiling for 6 Directors Mgmt For For Approve Payment of Annual Bonuses to Directors and Statutory 7 Auditors Mgmt For For 8 Approve Retirement Bonuses for Directors Mgmt For For Omron Corp. Shares Voted 38,800 Security J61374120 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 10, Final JY 14, Special JY 0 Mgmt For For Amend Articles to: Authorize Public Announcements in 2 Electronic Format Mgmt 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 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 6 Approve Executive Stock Option Plan Mgmt For For East Japan Railway Co Shares Voted 753 Security J1257M109 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3000, Final JY 3500, 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 3.1 Appoint Internal Statutory Auditor Mgmt For For 3.2 Appoint Internal Statutory Auditor Mgmt For Against NOMURA RESEARCH INSTITUTE Shares Voted 17,400 Security J5900F106 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 20, Final JY 80, Special JY 0 Mgmt For For Approve Payment of Annual Bonuses to Directors and Statutory 2 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 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 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus 5 System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceilings for 6 Directors and Statutory Auditors Mgmt For For Approve Executive Stock Option Plan and Deep Discount Stock 7 Option Plan Mgmt For Against Toyota Motor Corp. Shares Voted 105,900 Security J92676113 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Management Proposals Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 25, Final JY 40, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 2.9 Elect Director Mgmt For For 2.1 Elect Director Mgmt For For 2.11 Elect Director Mgmt For For 2.12 Elect Director Mgmt For For 2.13 Elect Director Mgmt For For 2.14 Elect Director Mgmt For For 2.15 Elect Director Mgmt For For 2.16 Elect Director Mgmt For For 2.17 Elect Director Mgmt For For 2.18 Elect Director Mgmt For For 2.19 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.21 Elect Director Mgmt For For 2.22 Elect Director Mgmt For For 2.23 Elect Director Mgmt For For 2.24 Elect Director Mgmt For For 2.25 Elect Director Mgmt For For 2.26 Elect Director Mgmt For For 3 Appoint Internal Statutory Auditor Mgmt For Against 4 Approve Executive Stock Option Plan Mgmt For For 5 Authorize Share Repurchase Program Mgmt For For 6 Approve Retirement Bonuses for Directors Mgmt For For Shareholder Proposals Amend Articles of Incorporation to Require Disclosure of Individual Compensation Levels of Directors and Statutory 7 Auditors ShrHoldr Against For Amend Articles of Incorporation to Require Reporting of Contributions to Political Parties and Political Fundraising 8 Organizations ShrHoldr Against Against West Japan Railway Co Shares Voted 678 Security J95094108 Meeting Date 6/23/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 2500, Final JY 3500, 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 Appoint Internal Statutory Auditor Mgmt For Against TIS Inc. (frm. Toyo Information Shares Voted Security Systems) 15,200 J8362E104 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 10, Final JY 17, Special JY 0 Mgmt For For 2 Elect Director Mgmt For For 3 Appoint Internal Statutory Auditor Mgmt For Against 4 Approve Retirement Bonuses for Director and Statutory Auditor Mgmt For For 5 Approve Executive Stock Option Plan Mgmt For For KDDI Corporation Shares Voted 423 Security J31843105 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following Dividends: Interim JY 2400, Interim Special JY 1000, Final JY 1 3500 Mgmt For For Amend Articles to: Reduce Directors' Term in Office - 2 Authorize Public Announcements in Electronic Format 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 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 5 Appoint Internal Statutory Auditor Mgmt For Against Mitsubishi Corp. Shares Voted 182,000 Security J43830116 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 6, Final JY 12, Special JY 0 Mgmt For For 2 Amend Articles to: Amend Business Objectives Clause 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 Executive Stock Option Plan Mgmt For For 5 Approve Deep Discount Stock Option Plan Mgmt For For Approve Retirement Bonuses for Directors and Special Payments to Continuing Directors and Statutory Auditors in Connection 6 with Abolition of Retirement Bonus System for Outsiders Mgmt For Against Astellas Pharma Inc. (frmly. Shares Voted Security Yamanouchi Pharmaceutical Co. L 46,900 J03393105 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 15, Final JY 16, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditors, and Special Payments to Continuing Directors and Statutory Auditor in Connection with Abolition of Retirement 3 Bonus System Mgmt For For 4 Approve Deep Discount Stock Option Plan Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 5 Directors Mgmt For For Mitsui & Co. Shares Voted 325,000 Security J44690139 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Authorize Public Announcements in Electronic Format - Clarify Board's Authority 2 to Vary Record Date for AGM - Clarify Director Authorities 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 Against 4.2 Appoint Internal Statutory Auditor Mgmt For Against Benesse Corp. Shares Voted 28,400 Security J0429N102 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 25, Final JY 35, Special JY 0 Mgmt For For 2.1 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 3 Appoint Internal Statutory Auditor Mgmt For For 4 Approve Executive Stock Option Plan Mgmt For For Komatsu Ltd. Shares Voted 259,000 Security J35759125 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5, Final JY 6, Special JY 0 Mgmt For For Amend Articles to: Authorize Public Announcements in Electronic Format - Reduce Maximum Board Size - Streamline 2 Board Structure 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 Executive Stock Option Plan Mgmt For For 6 Approve Retirement Bonuses for Directors Mgmt For For Kubota Corp. Shares Voted 141,000 Security J36662138 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 5, Special JY 0 Mgmt For For Amend Articles to: Reduce Maximum Board Size - Increase Number of Internal Auditors - Decrease Authorized Capital to Reflect 2 Share Repurchase 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 Apoprove Retirement Bonuses for Directors and Statutory Auditor and Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement 5 Bonus System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 6 Statutory Auditors Mgmt For For Mazda Motor Corp. Shares Voted 173,000 Security J41551102 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 3, Special JY 0 Mgmt For For 2 Approve Reduction in Legal Reserves Mgmt For For 3 Approve Executive Stock Option Plan Mgmt For For 4 Authorize Share Repurchase Program Mgmt For For 5.1 Elect Director Mgmt For For 5.2 Elect Director Mgmt For For 5.3 Elect Director Mgmt For For 5.4 Elect Director Mgmt For For 6.1 Appoint Internal Statutory Auditor Mgmt For For 6.2 Appoint Internal Statutory Auditor Mgmt For Against 6.3 Appoint Internal Statutory Auditor Mgmt For For 6.4 Appoint Internal Statutory Auditor Mgmt For For 7 Approve Retirement Bonuses for Director and Statutory Auditors Mgmt For For SEGA SAMMY HOLDINGS INC. Shares Voted 17,400 Security J7028D104 Meeting Date 6/24/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 40, Special JY 20 Mgmt For For Amend Articles to: Authorize Public Announcements in 2 Electronic Format 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 Against 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 Against 5 Appoint Alternate Internal Statutory Auditor Mgmt For Against 6 Approve Executive Stock Option Plan Mgmt For For Sundrug Co. Ltd. Shares Voted 32,200 Security J78089109 Meeting Date 6/25/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 20, Final JY 25, Special JY 0 Mgmt For For Fuji Soft ABC Inc. Shares Voted 29,400 Security J15257108 Meeting Date 6/27/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 11, Final JY 9, Special JY 0 Mgmt For For 2 Amend Articles to: Expand Business Lines Mgmt For For 3 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 Approve Retirement Bonuses for Directors and Statutory Auditors Mgmt For For Nomura Holdings Inc. Shares Voted 151,300 Security J59009159 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Meeting for Holders of ADR's 1 AMENDMENTS TO THE ARTICLES OF INCORPORATION Mgmt For For 2 ISSUANCE OF STOCK ACQUISITION RIGHTS A STOCK OPTIONS Mgmt For For 3 ELECTION OF DIRECTOR: JUNICHI UJIIE Mgmt For For 4 ELECTION OF DIRECTOR: NOBUYUKI KOGA Mgmt For For 5 ELECTION OF DIRECTOR: HIROSHI TODA Mgmt For For 6 ELECTION OF DIRECTOR: KAZUTOSHI INANO Mgmt For For 7 ELECTION OF DIRECTOR: NOBUYUKI SHIGEMUNE Mgmt For For 8 ELECTION OF DIRECTOR: MASAHARU SHIBATA Mgmt For For 9 ELECTION OF DIRECTOR: HIDEAKI KUBORI Mgmt For For 10 ELECTION OF DIRECTOR: HARUO TSUJI Mgmt For For 11 ELECTION OF DIRECTOR: FUMIHIDE NOMURA Mgmt For For 12 ELECTION OF DIRECTOR: KOJI TAJIKA Mgmt For For 13 ELECTION OF DIRECTOR: YUKIO SUZUKI Mgmt For For Hitachi Chemical Co. Ltd. Shares Voted 124,200 Security J20160107 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Amend Articles to: Authorize Public Announcements in Electronic Format - Clarify Board's Authority to Vary Record 1 Date for AGM 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 Against 2.7 Elect Director Mgmt For Against 2.8 Elect Director Mgmt For Against 3 Approve Executive Stock Option Plan Mgmt For For NIPPON MINING HOLDINGS INC. Shares Voted 345,500 Security J54824107 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Authorize Public Announcements in 2 Electronic Format 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 4 Approve Deep Discount Stock Option Plan Mgmt For For Approve Retirement Bonus for Director and Special Payments to Continuing Directors in Connection with Abolition of 5 Retirement Bonus System Mgmt For For Nippon Steel Corp. Shares Voted 1,496,000 Security J55999122 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 5, Special JY 0 Mgmt For For Approve Payment of Annual Bonuses to Directors and Statutory 2 Auditors Mgmt For For Amend Articles to: Authorize Public Announcements in 3 Electronic Format 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 4.24 Elect Director Mgmt For For 4.25 Elect Director Mgmt For For 4.26 Elect Director Mgmt For For 4.27 Elect Director Mgmt For For 4.28 Elect Director Mgmt For For 4.29 Elect Director Mgmt For For 4.3 Elect Director Mgmt For For 4.31 Elect Director Mgmt For For 4.32 Elect Director Mgmt For For 4.33 Elect Director Mgmt For For 4.34 Elect Director Mgmt For For 4.35 Elect Director Mgmt For For 4.36 Elect Director Mgmt For For 4.37 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 Approve Special Bonus for Family of Deceased Satutory Auditor 6 and Retirement Bounuses for Directors and Statutory Auditor Mgmt For Against Ricoh Co. Ltd. Shares Voted 84,000 Security J64683105 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 10, Final JY 10, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 993 Million to 1.5 Billion Shares - Reduce Maximum Board Size - 2 Clarify Director Authorities Mgmt For Against 3 Elect Director Mgmt For For 4 Approve Retirement Bonuses for Directors and Statutory Auditor Mgmt For For USS Co., Ltd. Shares Voted 22,720 Security J9446Z105 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 30, Final JY 35, Special JY 0 Mgmt For For Amend Articles to: Expand Business Lines - Increase Authorized Capital from 100 Million Shares to 120 Million Shares - 2 Decrease Maximum Board Size 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 4 Approve Retirement Bonuses for Statutory Auditors Mgmt For Against 5 Approve Executive Stock Option Plan Mgmt For Against MIZUHO FINANCIAL GROUP INC. Shares Voted 435 Security J4599L102 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Management Proposals Approve Allocation of Income, Including the Following Dividends on Ordinary Shares: Interim JY 0, Final JY 3500, 1 Special JY 0 Mgmt For For 2 Authorize Repurchase of Preferred Shares Mgmt For For Amend Articles to: Decrease Authorized Capital to Reflect 3 Preferred Share Cancellation 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 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For 6 Approve Retirement Bonuses for Director and Statutory Auditors Mgmt For For Shareholder Proposals Amend Articles to Require Disclosure of Individual 7 Compensation of Directors and Statutory Auditors ShrHoldr Against For Approve Alternate Income Allocation Proposal, with a Dividend 8 of JY 7000 Per Share ShrHoldr Against Against Citizen Electronics Shares Voted 9,200 Security J0792R102 Meeting Date 6/28/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 14, Final JY 16.5, Special JY 0 Mgmt For For 2 Amend Articles to: Change Company Name in Japanese Only Mgmt For For 3 Approve Merger Agreement with Citizen Watch Co. 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 TDK Corp. Shares Voted 23,000 Security J82141136 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 30, Final JY 40, Special JY 0 Mgmt For For 2 Approve Deep Discount Stock Option Plan Mgmt For For 3 Approve Executive Stock Option Plan Mgmt For Against 4 Authorize Share Repurchase Program Mgmt For For 5.1 Elect Director Mgmt For For 5.2 Elect Director Mgmt For For 5.3 Elect Director Mgmt For For 5.4 Elect Director Mgmt For For 5.5 Elect Director Mgmt For For 5.6 Elect Director Mgmt For For 5.7 Elect Director Mgmt For For Tokyo Gas Co. Ltd. Shares Voted 470,000 Security J87000105 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3.5, Final JY 3.5, Special JY 0 Mgmt For For Amend Articles to: Authorize Public Announcements in 2 Electronic Format Mgmt 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 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Director and Statutory Auditors and Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus 6 System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 7 Directors Mgmt For For Aoyama Trading Co. Ltd. Shares Voted 27,900 Security J01722107 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 40, Special JY 0 Mgmt For For Amend Articles to: Reduce Maximum Board Size - Authorize Public Announcements in Electronic Format - Expand Board 2 Eligibility 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 Approve Retirement Bonuses for Directors Mgmt For For 5 Appoint External Auditors Mgmt For For 6 Approve Executive Stock Option Plan Mgmt For For Matsushita Electric Industrial Co. Shares Voted Security Ltd. 128,000 J41121104 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 7.5, Final JY 7.5, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 2.9 Elect Director Mgmt For For 2.1 Elect Director Mgmt For For 2.11 Elect Director Mgmt For For 2.12 Elect Director Mgmt For For 2.13 Elect Director Mgmt For For 2.14 Elect Director Mgmt For For 2.15 Elect Director Mgmt For For 2.16 Elect Director Mgmt For For 2.17 Elect Director Mgmt For For 2.18 Elect Director Mgmt For For 2.19 Elect Director Mgmt For For Approve Special Bonus for Family of Deceased Director and 3 Retirement Bonuses for Directors Mgmt For Against Asahi Kasei Corp. (frm. Asahi Shares Voted Security Chemical Industry) 173,000 J0242P110 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 4, Special JY 0 Mgmt For For 2 Amend Articles to: Reduce Maximum Board Size 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 5 Approve Retirement Bonuses for Director and Statutory Auditor Mgmt For For Mitsui Fudosan Co. Ltd. Shares Voted 157,000 Security J4509L101 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3.50, Final JY 3.50, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 1.77 2 Billion to 3.29 Billion Shares - Reduce Maximum Board Size 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 Against 5 Approve Retirement Bonuses for Director and Statutory Auditor Mgmt For Against Mitsubishi Estate Co. Ltd. Shares Voted 156,000 Security J43916113 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 4, Final JY 4, Special JY 0 Mgmt For For 2 Amend Articles to: Reduce Maximum Board Size Mgmt For For 3.1 Elect Director Mgmt For Against 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 Against 4.2 Appoint Internal Statutory Auditor Mgmt For Against Casio Computer Co. Ltd. Shares Voted 35,300 Security J05250139 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 17, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 2.9 Elect Director Mgmt For For 2.1 Elect Director Mgmt For For 2.11 Elect Director Mgmt For For 2.12 Elect Director Mgmt For For 2.13 Elect Director Mgmt For For 3 Approve Retirement Bonus for Director Mgmt For For Hankyu Holdings Inc. ( frmrly Hankyu Shares Voted Security Corp.) 108,000 J18439109 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 3, 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 For 3.2 Appoint Internal Statutory Auditor Mgmt For For 3.3 Appoint Internal Statutory Auditor Mgmt For For NGK Insulators Ltd. Shares Voted 106,000 Security J49076110 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 5, Final JY 6, Special JY 0 Mgmt For For Amend Articles to: Reduce Maximum Board Size - Abolish Retirement Bonus System - Reduce Directors Term in Office - 2 Streamline Board Structure 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 4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditor and Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus 5 System 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 Rohm Co. Ltd. Shares Voted 17,000 Security J65328122 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 42.50, Final JY 42.50, Special JY 0 Mgmt For For 2 Authorize Share Repurchase Program Mgmt For For Amend Articles to: Increase Maximum Board Size - Authorize 3 Public Announcements in Electronic Format 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 Approve Special Payments to Satutory Auditors in Connection 5 with Abolition of Retirement Bonus System Mgmt For Against Shimizu Corp. Shares Voted 179,000 Security J72445117 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 2.50, Final JY 2.50, Special JY 0 Mgmt For For Amend Articles to: Provide for Sale of Supplemental Shares to 2 Odd-Lot Holders 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 For 5 Approve Retirement Bonuses for Directors and Statutory Auditor Mgmt For For Mitsubishi Tokyo Financial Group Inc Shares Voted 389 Security J44497105 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast 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: Increase Authorized Preferred Share Capital - Delete References to Cancelled Preferred Shares and Add 2 References to New Classes of Preferred Shares Mgmt For For 3 Approve Merger Agreement with UFJ Holdings Inc. 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 5.1 Appoint Internal Statutory Auditor Mgmt For For 5.2 Appoint Internal Statutory Auditor Mgmt For Against 6 Approve Retirement Bonuses for Directors and Statutory Auditors Mgmt For Against Daiwa House Industry Co. Ltd. Shares Voted 43,000 Security J11508124 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 17, 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 2.7 Elect Director Mgmt For For 2.8 Elect Director Mgmt For For 2.9 Elect Director Mgmt For For 2.1 Elect Director Mgmt For For 2.11 Elect Director Mgmt For For 2.12 Elect Director Mgmt For For 2.13 Elect Director Mgmt For For 2.14 Elect Director Mgmt For For 2.15 Elect Director Mgmt For For 2.16 Elect Director Mgmt For For 2.17 Elect Director Mgmt For For 2.18 Elect Director Mgmt For For 2.19 Elect Director Mgmt For For 2.2 Elect Director Mgmt For For 2.21 Elect Director Mgmt For For 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 3.4 Appoint Internal Statutory Auditor Mgmt For For Approve Retirement Bonuses for Directors and Statutory Auditors and Special Payments to Continuing Directors and Auditors in Connection with Abolition of Retirement Bonus 4 System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 5 Statutory Auditors Mgmt For For NHK Spring Co. Shares Voted 141,000 Security J49162126 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 3, Final JY 3, Special JY 0 Mgmt For For Amend Articles to: Introduce Exective Officer System - Reduce 2 Maximum Board Size - Streamline Board Structure 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 4 Approve Retirement Bonuses for Directors Mgmt For Against Sumitomo Trust & Banking Co. Ltd. Shares Voted 320,000 Security J77970101 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 12, Special JY 0 Mgmt For For Amend Articles to: Decrease Authorized Capital to Reflect Preferred Share Repurchase - Clarify Director Authorities - Clarify Board's Authority to Vary AGM Record Date - Require 2 Supermajority Vote to Remove Director 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 4.1 Appoint Internal Statutory Auditor Mgmt For For 4.2 Appoint Internal Statutory Auditor Mgmt For For Approve Special Payments to Continuing Directors and Statutory Auditors in Connection with Abolition of Retirement Bonus 5 System Mgmt For Against Kamigumi Co. Ltd. Shares Voted 223,000 Security J29438116 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 0, Final JY 8.50, Special JY 0 Mgmt For For Amend Articles to: Clarify Director Authorities - Expand Board 2 Eligibility 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 4 Appoint Internal Statutory Auditor Mgmt For For 5 Approve Retirement Bonuses for Directors and Statutory Auditor Mgmt For Against Dai Nippon Printing Co. Ltd. Shares Voted 29,000 Security J10584100 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast Approve Allocation of Income, Including the Following 1 Dividends: Interim JY 10.50, Final JY 13.50, Special JY 0 Mgmt For For Amend Articles to: Increase Authorized Capital from 1.2 Billion to 1.5 Billion Shares - Cancel Year-End Closure of Shareholder Register - Reduce Maximum Board Size - Increase 2 Maximum Number of Internal 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 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 4 Appoint Internal Statutory Auditor Mgmt For For Approve Adjustment to Aggregate Compensation Ceiling for 5 Statutory Auditors Mgmt For For 6 Approve Retirement Bonuses for Directors Mgmt For For Obayashi Corp. Shares Voted 276,000 Security J59826107 Meeting Date 6/29/2005 Meeting Type AGM Ballot Issues Proponent Mgmt Vote Rec Cast 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 - Reduce Maximum Board Size - Authorize Public Announcements in Electronic 2 Format - Introduce Executive Officer 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 3.11 Elect Director Mgmt For For Approve Retirement Bonuses for Directors and Special Payments to Continuing Directorsand Statutory Auditors in Connection 4 with Abolition of Retirement Bounu System Mgmt For Against Approve Adjustment to Aggregate Compensation Ceiling for 5 Statutory Auditors Mgmt For For ProxyEdge - Investment Company Report Report Date: 08/03/2005 Meeting Date Range: 07/01/2004 to 06/30/2005 Selected Accounts: Scuder Investors Funds - 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: 08/10/2005 Meeting Date Range: 07/01/2004 to 06/30/2005 Selected Accounts: Scudder Inv Portfolio Trust Inc. Top 50 US Portfolio - ---------------------------------------------------------------------------------------------------------------------------- BED BATH & BEYOND INC. BBBY Annual Meeting Date: 07/01/2004 Issuer: 075896 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 KPMG LLP. Management For No 03 RATIFICATION OF THE ADOPTION OF THE 2004 INCENTIVE Management For No COMPENSATION PLAN. 04 SHAREHOLDER PROPOSAL; GLASS CEILING REPORT. Shareholder Against No 05 SHAREHOLDER PROPOSAL; EXECUTIVE STOCK HOLDINGS. Shareholder Against No - ---------------------------------------------------------------------------------------------------------------------------- ELECTRONIC ARTS INC. ERTS Annual Meeting Date: 07/29/2004 Issuer: 285512 ISIN: SEDOL: - ---------------------------------------------------------------------------------------------------------------------------- Vote Group: UNASSIGNED Proposal Proposal Vote Against Number Proposal Type Cast Mgmt. - ---------------------------------------------------------------------------------------------------------------------------- 01 DIRECTOR Management For No 02 AMENDMENTS TO THE 2000 EQUITY INCENTIVE PLAN Management Against Yes 03 AMENDMENT TO THE 2000 EMPLOYEE STOCK PURCHASE Management For No PLAN 04 AMENDMENT OF THE CERTIFICATE OF INCORPORATION Shareholder For No TO CONSOLIDATE COMMON STOCK 05 AMENDMENT OF THE CERTIFICATE OF INCORPORATION Shareholder Against Yes TO INCREASE THE NUMBER OF AUTHORIZED SHARES OF COMMON STOCK 06 RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS Management For No - ---------------------------------------------------------------------------------------------------------------------------- FOREST LABORATORIES, INC. FRX Annual Meeting Date: 08/11/2004 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 For No OF INCORPORATION TO AUTHORIZE ADDITIONAL SHARES OF THE COMPANY S COMMON STOCK. 03 RATIFICATION OF 2004 STOCK OPTION PLAN. Management For No 04 RATIFICATION OF BDO SEIDMAN, LLP AS INDEPENDENT Management For No AUDITORS. - ---------------------------------------------------------------------------------------------------------------------------- VERITAS SOFTWARE CORPORATION VRTSE Annual Meeting Date: 08/25/2004 Issuer: 923436 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 2003 STOCK INCENTIVE Management Against Yes PLAN 03 RATIFICATION OF KPMG LLP AS INDEPENDENT ACCOUNTANTS Management For No FOR CURRENT FISCAL YEAR - ---------------------------------------------------------------------------------------------------------------------------- THE PROCTER & GAMBLE COMPANY PG Annual Meeting Date: 10/12/2004 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 THE INDEPENDENT REGISTERED Management For No PUBLIC ACCOUNTING FIRM 03 APPROVE AMENDMENT TO AMENDED ARTICLES OF INCORPORATION Shareholder Against Yes TO INCREASE THE AUTHORIZED NUMBER OF SHARES OF COMMON STOCK 04 APPROVE AMENDMENT TO CODE OF REGULATIONS TO PROVIDE Management For Yes FOR THE ANNUAL ELECTION OF DIRECTORS 05 SHAREHOLDER PROPOSAL NO. 1 IN-HOME FOOD STUDIES Shareholder Against No FOR PET NUTRITION 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 8/15/05 --------- * Print the name and title of each signing officer under his or her signature.