UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-6120
The First Israel Fund, Inc.
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(Exact name of registrant as specified in charter)
c/o Credit Suisse Asset Management, LLC
466 Lexington Avenue
New York, New York 10017
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(Address of principal executive offices) (Zip code)
J. Kevin Gao, Esq.
466 Lexington Avenue
New York, New York 10017
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(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 875-3500
Date of fiscal year end: 09/30
Date of reporting period: July 1, 2004 - June 30, 2005
ITEM 1. PROXY VOTING RECORD
THE FIRST ISRAEL FUND, INC.
========================= THE FIRST ISRAEL FUND, INC. ==========================
AGIS INDUSTRIES LTD.
Ticker: Security ID: M0229E100
Meeting Date: OCT 20, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect One External Director For For Management
2 Accept Financial Statements and Statutory For For Management
Reports (Voting)
3 Approve Auditors and Authorize Board to For For Management
Fix Their Remuneration
4 Elect Directors and Approve Directors' For For Management
Remuneration
5 Amend Articles Re: Replace Articles with For Against Management
New Articles Conforming to Provisions of
Israeli Companies Law
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AMERICAN ISRAELI PAPER MILLS LTD.
Ticker: AIP Security ID: 027069509
Meeting Date: JUL 14, 2004 Meeting Type: Annual
Record Date: JUN 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Receive Financial Statements and None None Management
Statutory Reports
2 Reappoint M. Dorsman, N. Dankner, A. For For Management
Yehzkel, Y. Yerushalmi, Z. Livnat, A.
Lider, Y. Manor, A. Mar-Haim, and A.
Fisher as Directors
3 Approve Compensation of Directors for For For Management
2004 of NIS 39,000 Per Year and NIS 1,500
Per Meeting Attended
4 Reappoint Kesselman & Kesselman as For For Management
Auditors
5 Approve Monthly Salary of Board Chairman For For Management
of NIS 88,000 ($19,570) and a Bonus of
NIS 800,000 ($177,920) for 2003
6 Approve Director/Officer Liability and For Against Management
Indemnification Insurance
7 Approve Director/Officer Indemnification For Against Management
Agreements
8 Amend Articles 135.1 through 137.1 For Against Management
Regarding Indemnification
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BANK HAPOALIM B.M.
Ticker: Security ID: M1586M115
Meeting Date: SEP 13, 2004 Meeting Type: Annual
Record Date: SEP 6, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports (Voting)
2A Approve Compensation of Directors for For For Management
2004
2B Approve Compensation of Board Chairman For For Management
for 2004
3 Approve Terms of Service Between Director For For Management
Dan Dankner and Subsidiaries Isracard
Ltd. and Poalim Capital Markets Group
4A Approve Auditors and Authorize Board to For For Management
Fix Their Remuneration
4B Accept Report on Auditors' Fees for 2003 For For Management
5 Renew Director/Officer Liability and For Against Management
Indemnification Insurance
6A Amend Article 19c of Articles of For Against Management
Association
6B Approve Addition of Article 33 to For Against Management
Articles of Association
7 Approve Director/Officer Indemnification For Against Management
Agreement with Director Joseph Dauber
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BEZEQ THE ISRAELI TELECOM CORP
Ticker: Security ID: M2012Q100
Meeting Date: SEP 14, 2004 Meeting Type: Special
Record Date: SEP 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Director/Officer Liability and For Against Management
Indemnification Insurance
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CAMTEK LTD
Ticker: CAMT Security ID: M20791105
Meeting Date: MAY 16, 2005 Meeting Type: Annual
Record Date: APR 22, 2005
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Rafi Amit For Did Not Management
Vote
1.2 Elect Director Yotam Stern For Did Not Management
Vote
1.3 Elect Director Eran Bendoly For Did Not Management
Vote
2 TO APPROVE CERTAIN CHANGES TO THE For Did Not Management
EMPLOYMENT STRUCTURES OF, AND Vote
COMPENSATION TO BE PAID TO, THE COMPANY S
CHIEF EXECUTIVE OFFICER AND THE COMPANY S
EXECUTIVE VICE PRESIDENT - BUSINESS &
STRATEGY. SHAREHOLDERS WHO DO NOT HAVE A
PERSONAL INTEREST IN THIS M
3 TO APPROVE CERTAIN CHANGES TO THE For Did Not Management
EMPLOYMENT STRUCTURES OF, AND Vote
COMPENSATION TO BE PAID TO, THE COMPANY S
CHIEF EXECUTIVE OFFICER AND THE COMPANY S
EXECUTIVE VICE PRESIDENT - BUSINESS &
STRATEGY. SHAREHOLDERS WHO DO HAVE A
PERSONAL INTEREST IN THIS MATTE
4 TO APPROVE AN AMENDMENT TO THE Did Not Management
REGISTRATION RIGHTS AGREEMENT BETWEEN THE Vote
COMPANY AND ITS CONTROLLING SHAREHOLDER,
PRIORTECH LTD. SHAREHOLDERS WHO DO NOT
HAVE A PERSONAL INTEREST IN THIS MATTER
SHOULD INDICATE THEIR VOTE HERE.
5 TO APPROVE AN AMENDMENT TO THE Did Not Management
REGISTRATION RIGHTS AGREEMENT BETWEEN THE Vote
COMPANY AND ITS CONTROLLING SHAREHOLDER,
PRIORTECH LTD. SHAREHOLDERS WHO DO HAVE A
PERSONAL INTEREST IN THIS MATTER SHOULD
INDICATE THEIR VOTE HERE.
6 Ratify Auditors For Did Not Management
Vote
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CLAL INSURANCE ENTERPRISE HOLDINGS LTD.
Ticker: Security ID: M2447P107
Meeting Date: SEP 21, 2004 Meeting Type: Special
Record Date: SEP 7, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Remuneration of Directors Yitshak For Did Not Management
Manor, Shai Livnat, and Darko Horvat Vote
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ECI TELECOM LTD.
Ticker: ECIL Security ID: 268258100
Meeting Date: APR 11, 2005 Meeting Type: Special
Record Date: MAR 14, 2005
# Proposal Mgt Rec Vote Cast Sponsor
1 APPROVAL OF THE COMPENSATION OF MR. CRAIG For Against Management
EHRICH
2 APPROVAL OF THE SALE TO ABN AMRO BANK For For Management
N.V. OF LONG-TERM NOTES (NO PERSONAL
INTEREST)
3 APPROVAL OF THE SALE TO ABN AMRO BANK For For Management
N.V. OF LONG-TERM NOTES (HAVE A PERSONAL
INTEREST)
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ELBIT MEDICAL IMAGING
Ticker: Security ID: M37605108
Meeting Date: SEP 2, 2004 Meeting Type: Annual
Record Date: AUG 4, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Reelect M. Ziser, S. Yitzhaki, R. Levine, For For Management
Y. Forer, E. Firer, and D. Rovner as
Directors
2 Approve Brightman Almagor & Co. as For For Management
Auditors and Authorize Board to Fix Their
Remuneration
3 Appoint Z. Trop as External Directors For For Management
4 Extend Exercise Period of Options For For Management
Allocated to M. Ziser by One Year
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ELBIT SYSTEMS LTD
Ticker: Security ID: M3760D101
Meeting Date: NOV 8, 2004 Meeting Type: Annual
Record Date: OCT 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect M. Federmann, A. Asheri, R. Baum, For For Management
A. Beth-Halachmi, Y. Ne'eman, and D.
Ninveh as Directors
2 Reappoint Kost, Forer, Gabbay & Kasierer For For Management
as Auditors
3 Amend Articles Re: Termination of For Against Management
Shareholders Agreement between FEL,
Heris, and Elron
4 Approve Compensation of Directors For For Management
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ELCO HOLDINGS
Ticker: Security ID: M3787F105
Meeting Date: JUL 28, 2004 Meeting Type: Annual
Record Date: JUL 15, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports (Voting)
2 Reappoint Rosenski, Halifi, Meiri &j Co. For For Management
as Auditors
3 Reappoint Fershon Salkind, Uri Ben-Ari, For For Management
and Daniel Salkind as Directors
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IDB DEVELOPMENT CORP
Ticker: Security ID: M2798P102
Meeting Date: NOV 15, 2004 Meeting Type: Special
Record Date: NOV 7, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Appoint Amos Malca as External Director For For Management
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IDB DEVELOPMENT CORP
Ticker: Security ID: M2798P102
Meeting Date: SEP 26, 2004 Meeting Type: Special
Record Date: SEP 19, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Agreement with Clal Industries For For Management
and Investments Ltd., Discount Investment
Corp., and Property & Building Corp.
Regarding Distribution of Office Usage
and Expenses Relating to Azrieli Center
Office Space
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INDUSTRIAL BUILDINGS CORP.
Ticker: Security ID: M5514Q106
Meeting Date: AUG 2, 2004 Meeting Type: Special
Record Date: JUL 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Transaction with Controlling For For Management
Shareholder
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INDUSTRIAL BUILDINGS CORP.
Ticker: Security ID: M5514Q106
Meeting Date: SEP 22, 2004 Meeting Type: Special
Record Date: SEP 14, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Increase Authorized Share Capital to 600 For Against Management
Million Ordinary Shares of Par Value NIS
1
2 Approve Stock Option Grant to Purchase For Against Management
999,999 Shares to Nine Directors
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JERUSALEM ECONOMIC CORPORATION (FRMLY JERUSALEM E.C.J.)
Ticker: Security ID: M6186V100
Meeting Date: AUG 2, 2004 Meeting Type: Special
Record Date: JUL 26, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Transaction with Controlling For For Management
Shareholder
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MAKHTESHIM - AGAN INDUSTRIES LTD
Ticker: Security ID: M67888103
Meeting Date: AUG 30, 2004 Meeting Type: Special
Record Date: AUG 11, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Stock Option Grants to External For Against Management
Directors Avishai Breverman and Efraim
Halevy, and Director Rivka Carmy
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MIND CTI LTD
Ticker: Security ID: M70240102
Meeting Date: APR 7, 2005 Meeting Type: Annual
Record Date: MAR 14, 2005
# Proposal Mgt Rec Vote Cast Sponsor
1 RE-ELECTION OF MR. RIMON BEN-SHAOUL AS For For Management
CLASS II DIRECTOR OF THE COMPANY.
2 RE-ELECTION OF MR. ZAMIR BAR-ZION AS AN For For Management
OUTSIDE DIRECTOR OF THE COMPANY AND
RELATED AMENDMENT TO THE COMPANY S
ARTICLE OF ASSOCIATION.
3 ELECTION OF MR. MENAHEM SHALGI AS AN For For Management
OUTSIDE DIRECTOR OF THE COMPANY.
4 APPROVAL OF COMPENSATION FOR THE For Against Management
DIRECTORS OF THE COMPANY.
5 Ratify Auditors For For Management
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PROPERTY & BUILDING CORPORATION
Ticker: Security ID: M8175G102
Meeting Date: SEP 26, 2004 Meeting Type: Special
Record Date: SEP 19, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Agreement with IDB Development For For Management
Corp., Discount Investment Corp., and
Clal Industries and Investments Ltd.
Regarding Distribution of Office Usage
and Expenses Relating to Azrieli Center
Office Space
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RAPAC TECHNOLOGIES 2000 LTD
Ticker: Security ID: M8198A108
Meeting Date: SEP 28, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For Did Not Management
Reports (Voting) Vote
2 Reelect Tanhum Oren, Alex Milner, Orly For Did Not Management
Felner-Hayardeni and Ron Oren as Vote
Directors
3.1 Reelect Daniel Rosen as an External For Did Not Management
Director Vote
3.2 Elect Aharon Zeler as an External For Did Not Management
Director Vote
4 Approve Somech Haiki as Auditors and For Did Not Management
Authorize Board to Fix Their Remuneration Vote
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UNITED MIZRAHI BANK
Ticker: Security ID: M9540S110
Meeting Date: OCT 14, 2004 Meeting Type: Special
Record Date: OCT 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Amendment to Advance For Against Management
Indemnification Given to Directors and
Officers
2 Approve Merger Agreement with Tefahot For For Management
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UNITED MIZRAHI BANK
Ticker: Security ID: M9540S110
Meeting Date: OCT 21, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Amendment to Advance For Against Management
Indemnification Given to Directors and
Officers
2 Approve Merger Agreement with Tefahot For For Management
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UNITED MIZRAHI BANK
Ticker: Security ID: M9540S110
Meeting Date: SEP 22, 2004 Meeting Type: Special
Record Date: SEP 8, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Merger Agreement with Investment For For Management
Company of United Mizrahi Bank
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE FIRST ISRAEL FUND, INC.
By: /s/ Steven Plump
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Steven Plump
President and Chief Executive Officer
Date: August 26, 2005