UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-2631
Chestnut Street Exchange Fund
(Exact name of registrant as specified in charter)
400 Bellevue Parkway, 4th Floor
Wilmington, DE 19809
(Address of principal executive offices) (Zip code)
Edward J. Roach, President & Treasurer
400 Bellevue Parkway, 4th Floor
Wilmington, DE 19809
(Name and address of agent for service)
Registrant's telephone number, including area
code: 302-792-2555
Date of fiscal year end: December 31st
Date of reporting period: June 30, 2006
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 (Sections 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 there under (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. Section 3507.
PROXY VOTING RECORD
FOR PERIOD JULY 1, 2005 TO JUNE 30, 2006
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
08/11/05 - A AMERICAN INTERNATIONAL GROUP, INC. 026874107 06/24/05 28,441
*AIG*
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
10/10/05 - A ORACLE CORP. *ORCL* 68389X105 08/15/05 73,947
1 Elect Directors For For Mgmt
2 Approve Executive Incentive Bonus Plan For For Mgmt
3 Ratify Auditors For For Mgmt
10/27/05 - A SARA LEE CORP. *SLE* 803111103 09/01/05 45,506
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Approve Qualified Employee Stock Purchase For For Mgmt
Plan
4 Adopt ILO Based Code of Conduct Against Against ShrHoldr
5 Eliminate or Restrict Severance Agreements Against For ShrHoldr
(Change-in-Control)
6 Submit Shareholder Rights Plan (Poison Against For ShrHoldr
Pill) to Shareholder Vote
11/09/05 - A MICROSOFT CORP. *MSFT* 594918104 09/09/05 105,043
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
01/26/06 - A AIR PRODUCTS & CHEMICALS, INC. *APD* 009158106 11/30/05 100,609
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Omnibus Stock Plan For For Mgmt
4 Approve Executive Incentive Bonus Plan For For Mgmt
02/07/06 - A EMERSON ELECTRIC CO. *EMR* 291011104 11/29/05 90,556
1 Elect Directors For For Mgmt
2 Approve Omnibus Stock Plan For For Mgmt
3 Ratify Auditors For For Mgmt
4 Submit Severance Agreement Against For ShrHoldr
(Change-in-Control) to Shareholder Vote
03/07/06 - A CABOT MICROELECTRONICS CORP. *CCMP* 12709P103 01/17/06 42,373
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 1
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
03/09/06 - A CABOT CORP. *CBT* 127055101 01/17/06 86,032
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Approve Omnibus Stock Plan For For Mgmt
4 Approve Non-Employee Director Stock Option For For Mgmt
Plan
03/10/06 - A THE WALT DISNEY COMPANY *DIS* 254687106 01/09/06 129,129
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Company-Specific -- Shareholder Against Against ShrHoldr
Miscellaneous
4 Report on Vendor Standards in China Against Against ShrHoldr
03/15/06 - A HEWLETT-PACKARD CO. *HPQ* 428236103 01/17/06 57,923
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Approve Executive Incentive Bonus Plan For For Mgmt
4 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
5 Claw-Back of Payments under Restatement Against Against ShrHoldr
04/12/06 - A SCHLUMBERGER LTD. *SLB* 806857108 03/01/06 57,292
MEETING FOR HOLDERS OF ADRS
1 Elect Directors For For Mgmt
2 ADOPTION AND APPROVAL OF FINANCIALS AND For For Mgmt
DIVIDENDS
3 ADOPTION OF AMENDMENT TO THE ARTICLES OF For For Mgmt
INCORPORATION
4 APPROVAL OF AMENDMENT AND RESTATEMENT OF For For Mgmt
THE SCHLUMBERGER 2005 STOCK OPTION PLAN
5 APPROVAL OF INDEPENDENT REGISTERED PUBLIC For For Mgmt
ACCOUNTING FIRM
04/18/06 - A WACHOVIA CORP. *WB* 929903102 02/22/06 92,150
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Submit Severance Agreement (Change in Against For ShrHoldr
Control) to shareholder Vote
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 2
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
4 Report on Political Contributions Against Against ShrHoldr
5 Separate Chairman and CEO Positions Against Against ShrHoldr
6 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
04/19/06 - A BURLINGTON NORTHERN SANTA FE CORP. 12189T104 02/28/06 113,572
*BNI*
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Omnibus Stock Plan For For Mgmt
4 Amend Executive Incentive Bonus Plan For For Mgmt
5 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
6 Separate Chairman and CEO Positions Against For ShrHoldr
04/19/06 - A THE COCA-COLA COMPANY *KO* 191216100 02/21/06 203,875
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Restricted Stock Plan For For Mgmt
4 Report on Charitable Contributions Against Against ShrHoldr
5 Review/ Report on Recycling Policy Against Against ShrHoldr
6 Performance-Based and/or Time-Based Equity Against For ShrHoldr
Awards
7 Report on Environmental Liabilities in India Against Against ShrHoldr
8 Sponsor Independent Inquiry into Operations Against Against ShrHoldr
in Columbia
04/20/06 - A BP PLC (FORM. BP AMOCO PLC ) 055622104 02/17/06 41,979
MEETING FOR HOLDERS OF ADRS
1 TO RECEIVE THE DIRECTORS ANNUAL REPORT AND For For Mgmt
THE ACCOUNTS
2 TO APPROVE THE DIRECTORS REMUNERATION REPORT For For Mgmt
3 Elect Directors For For Mgmt
4 Ratify Auditors For For Mgmt
5 SPECIAL RESOLUTION: TO GIVE LIMITED For For Mgmt
AUTHORITY FOR THE PURCHASE OF ITS OWN
SHARES BY THE COMPANY
6 TO GIVE AUTHORITY TO ALLOT SHARES UP TO A For For Mgmt
SPECIFIED AMOUNT
7 SPECIAL RESOLUTION: TO GIVE AUTHORITY TO For For Mgmt
ALLOT A LIMITED
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 3
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES FOR CASH
WITHOUT MAKING AN OFFER TO SHAREHOLDERS
04/21/06 - A FREESCALE SEMICONDUCTOR, INC. *FSL* 35687M206 02/21/06 30,192
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
04/24/06 - A AMERICAN EXPRESS CO. *AXP* 025816109 02/28/06 111,332
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Limit/Prohibit Executive Stock-Based Awards Against Against ShrHoldr
4 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
5 Exclude Reference to Sexual Orientation Against Against ShrHoldr
from the Company's EEO Statement
6 Company-Specific -- Reimbursement of Against Against ShrHoldr
Expenses for Certain Shareholder-Nominated
Director Candidates
04/25/06 - A INTERNATIONAL BUSINESS MACHINES CORP. 459200101 02/24/06 39,708
*IBM*
1 Elect Directors For Split Mgmt
1.1 Elect Director Cathleen Black --- For
1.2 Elect Director Kenneth I. Chenault --- For
1.3 Elect Director Juergen Dormann --- For
1.4 Elect Director Michael L. Eskew --- For
1.5 Elect Director Shirley Ann Jackson --- For
1.6 Elect Director Minoru Makihara --- For
1.7 Elect Director Lucio A. Noto --- For
1.8 Elect Director James W. Owens --- For
1.9 Elect Director Samuel J. Palmisano --- For
1.10 Elect Director Joan E. Spero --- For
1.11 Elect Director Sidney Taurel --- For
1.12 Elect Director Charles M. Vest --- For
1.13 Elect Director Lorenzo H. Zambrano ---
Withhold
2 Ratify Auditors For For Mgmt
3 Provide for Cumulative Voting Against Against ShrHoldr
4 Evaluate Age Discrimination in Retirement Against Against ShrHoldr
Plans
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 4
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
5 Time-Based Equity Awards Against For ShrHoldr
6 Increase Disclosure of Executive Against For ShrHoldr
Compensation
7 Report on Outsourcing Against Against ShrHoldr
8 Implement/ Increase Activity on the China Against Against ShrHoldr
Principles
9 Report on Political Contributions Against Against ShrHoldr
10 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
11 Adopt Simple Majority Vote Against For ShrHoldr
04/25/06 - A MERCK & CO., INC. *MRK* 589331107 02/24/06 349,404
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Approve Omnibus Stock Plan For For Mgmt
4 Approve Non-Employee Director Omnibus Stock For For Mgmt
Plan
5 Limit Executive Compensation Against Against ShrHoldr
6 Adopt Simple Majority Vote Against For ShrHoldr
7 Adopt Animal Welfare Standards Against Against ShrHoldr
04/25/06 - A MOODY'S CORPORATION *MCO* 615369105 03/01/06 96,032
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Declassify the Board of Directors Against Against ShrHoldr
04/25/06 - A WELLS FARGO & COMPANY *WFC* 949746101 03/07/06 298,190
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
4 Separate Chairman and CEO Positions Against For ShrHoldr
5 Compensation- Director Compensation Against Against ShrHoldr
6 Report on Discrimination in Lending Against Against ShrHoldr
04/26/06 - A AMERIPRISE FINANCIAL, INC. *AMP* 03076C106 02/28/06 22,266
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
04/26/06 - A BANK OF AMERICA CORP. *BAC* 060505104 03/03/06 394,928
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Omnibus Stock Plan For For Mgmt
4 Publish Political Contributions Against Against ShrHoldr
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 5
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
5 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
6 Provide for an Independent Chairman Against For ShrHoldr
7 Exclude Reference to Sexual Orientation Against Against ShrHoldr
from the Company's EEO Statement
04/26/06 - A GENERAL ELECTRIC CO. *GE* 369604103 02/27/06 364,049
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Restore or Provide for Cumulative Voting Against Against ShrHoldr
4 Adopt Policy on Overboarded Directors Against Against ShrHoldr
5 Company-Specific -- One Director from the Against Against ShrHoldr
Ranks of the Retirees
6 Separate Chairman and CEO Positions Against Against ShrHoldr
7 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
8 Report on Environmental Policies Against Against ShrHoldr
04/27/06 - A JOHNSON & JOHNSON *JNJ* 478160104 02/28/06 542,577
1 Elect Directors For For Mgmt
2 Amend Articles to Remove Antitakeover For For Mgmt
Provision
3 Ratify Auditors For For Mgmt
4 Disclose Charitable Contributions Against Against ShrHoldr
5 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
04/28/06 - A ABBOTT LABORATORIES *ABT* 002824100 03/01/06 231,254
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Performance-Based Equity Awards Against For ShrHoldr
4 Report on Political Contributions Against Against ShrHoldr
5 Separate Chairman and CEO Positions Against For ShrHoldr
05/01/06 - A MOTOROLA, INC. *MOT* 620076109 03/03/06 273,453
1 Elect Directors For Split Mgmt
1.1 Elect Director E. Zander --- For
1.2 Elect Director H.L. Fuller --- Against
1.3 Elect Director J. Lewent --- For
1.4 Elect Director T. Meredith --- For
1.5 Elect Director N. Negroponte --- For
1.6 Elect Director I. Nooyi --- For
1.7 Elect Director S. Scott, III --- For
1.8 Elect Director R. Sommer --- For
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 6
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
1.9 Elect Director J. Stengel --- For
1.10 Elect Director D. Warner, III --- For
1.11 Elect Director J. White --- For
1.12 Elect Director M. White --- For
2 Approve Omnibus Stock Plan For For Mgmt
3 Submit Shareholder Rights Plan (Poison Against For ShrHoldr
Pill) to Shareholder Vote
05/04/06 - A UNION PACIFIC CORP. *UNP* 907818108 02/23/06 37,922
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
4 Report on Political Contributions Against Against ShrHoldr
5 Provide for an Independent Chairman Against For ShrHoldr
05/04/06 - A VERIZON COMMUNICATIONS *VZ* 92343V104 03/06/06 143,830
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Restore or Provide for Cumulative Voting Against Against ShrHoldr
4 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
5 Require Majority of Independent Directors Against Against ShrHoldr
on Board
6 Company-Specific-Directors on Common Boards Against Against ShrHoldr
7 Separate Chairman and CEO Positions Against For ShrHoldr
8 Performance-Based and/or Time-Based Equity Against Against ShrHoldr
Awards
9 Report on Political Contributions Against Against ShrHoldr
05/05/06 - A IMS HEALTH INC. *RX* 449934108 03/17/06 75,385
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Omnibus Stock Plan For For Mgmt
4 Submit Shareholder Rights Plan (Poison Against Against ShrHoldr
Pill) to Shareholder Vote
05/08/06 - A PITNEY BOWES INC. *PBI* 724479100 03/10/06 39,154
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Executive Incentive Bonus Plan For For Mgmt
4 Approve Qualified Employee Stock Purchase For For Mgmt
Plan
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 7
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
05/09/06 - A 3M CO *MMM* 88579Y101 03/10/06 144,103
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Declassify the Board of Directors For Against Mgmt
4 Performance-Based Against For ShrHoldr
5 Adopt Animal Welfare Policy Against Against ShrHoldr
6 Implement China Principles Against Against ShrHoldr
05/09/06 - A BAXTER INTERNATIONAL INC. *BAX* 071813109 03/13/06 64,986
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Declassify the Board of Directors For Against Mgmt
4 Establish Range For Board Size For For Mgmt
5 Submit Shareholder Rights Plan (Poison Against For ShrHoldr
Pill) to Shareholder Vote
05/16/06 - A JPMORGAN CHASE & CO. *JPM* 46625H100 03/17/06 140,310
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Put Repricing of Stock Options to Against Against ShrHoldr
Shareholder Vote
4 Performance-Based Equity Awards Against For ShrHoldr
5 Separate Chairman and CEO Positions Against For ShrHoldr
6 Remove Reference to Sexual Orientation from Against Against ShrHoldr
EEO Statement
7 Amend Articles/Bylaws/Charter -- Call Against For ShrHoldr
Special Meetings
8 Report on Lobbying Activities Against Against ShrHoldr
9 Report on Political Contributions Against Against ShrHoldr
10 Approve Terms of Existing Poison Pill Against Against ShrHoldr
11 Provide for Cumulative Voting Against Against ShrHoldr
12 Claw-back of Payments under Restatements Against Against ShrHoldr
13 Require Director Nominee Qualifications Against Against ShrHoldr
05/17/06 - A AMERICAN INTERNATIONAL GROUP, INC. 026874107 03/24/06 28,441
*AIG*
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Approve Executive Incentive Bonus Plan For For Mgmt
05/17/06 - A HOSPIRA INC *HSP* 441060100 03/20/06 23,125
1 Elect Directors For For Mgmt
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 8
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
2 Ratify Auditors For For Mgmt
05/17/06 - A INTEL CORP. *INTC* 458140100 03/20/06 1,157,967
1 Elect Director Craig R. Barrett For For Mgmt
2 Elect Director Charlene Barshefsky For For Mgmt
3 Elect Director E. John P. Browne For For Mgmt
4 Elect Director D. James Guzy For For Mgmt
5 Elect Director Reed E. Hundt For For Mgmt
6 Elect Director Paul S. Otellini For For Mgmt
7 Elect Director James D. Plummer For For Mgmt
8 Elect Director David S. Pottruck For For Mgmt
9 Elect Director Jane E. Shaw For For Mgmt
10 Elect Director John L. Thornton For For Mgmt
11 Elect Director David B. Yoffie For For Mgmt
12 Rescind Fair Price Provision For For Mgmt
13 Amend Articles/Bylaws/Repeal Supermajority For For Mgmt
Vote
14 Ratify Auditors For For Mgmt
15 Approve Omnibus Stock Plan For For Mgmt
16 Approve Qualified Employee Stock Purchase For For Mgmt
Plan
05/18/06 - A COMCAST CORP. *CMCSA* 20030N101 03/10/06 99,829
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Amend Qualified Employee Stock Purchase Plan For For Mgmt
4 Amend Restricted Stock Plan For For Mgmt
5 Approve Executive Incentive Bonus Plan For For Mgmt
6 Put Repricing of Stock Options to Against Against ShrHoldr
Shareholder Vote
7 Separate Chairman and CEO Positions Against For ShrHoldr
8 Limit Executive Compensation Against Against ShrHoldr
9 Company-Specific-Adopt Recapitalization Plan Against For ShrHoldr
10 Establish Other Board Committee Against For ShrHoldr
05/18/06 - A MARSH & MCLENNAN COMPANIES, INC. *MMC* 571748102 03/20/06 110,307
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
4 Report on Political Contributions Against Against ShrHoldr
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 9
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
05/24/06 - A MEDCO HEALTH SOLUTIONS INC *MHS* 58405U102 03/29/06 45,931
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
05/25/06 - A SAFEWAY INC. *SWY* 786514208 03/27/06 44,558
1 Elect Director Steven A. Burd For For Mgmt
2 Elect Director Janet E. Grove For For Mgmt
3 Elect Director Mohan Gyani For For Mgmt
4 Elect Director Paul Hazen For For Mgmt
5 Elect Director Robert I. MacDonnell For For Mgmt
6 Elect Director Douglas J. MacKenzie For For Mgmt
7 Elect Director Rebecca A. Stirn For For Mgmt
8 Elect Director William Y. Tauscher For For Mgmt
9 Elect Director Raymond G. Viault For For Mgmt
10 Approve Executive Incentive Bonus Plan For For Mgmt
11 Ratify Auditors For For Mgmt
12 Provide for Cumulative Voting Against Against ShrHoldr
13 Eliminate or Restrict Severance Agreements Against For ShrHoldr
(Change-in-Control)
14 Company-Specific-Establishment of an Office Against Against ShrHoldr
of the Board
15 Adopt Policy to Identify and Label Food Against Against ShrHoldr
Products that Contain Genetically
Engineered Ingredients
16 Issue Sustainability Report Against Against ShrHoldr
05/31/06 - A EXXON MOBIL CORP. *XOM* 30231G102 04/06/06 147,227
1 Elect Directors For For Mgmt
2 Ratify Auditors For For Mgmt
3 Provide for Cumulative Voting Against Against ShrHoldr
4 Require a Majority Vote for the Election of Against Against ShrHoldr
Directors
5 Company-Specific-Nominate Independent Against Against ShrHoldr
Director with Industry Experience
6 Require Director Nominee Qualifications Against Against ShrHoldr
7 Non-Employee Director Compensation Against Against ShrHoldr
8 Separate Chairman and CEO Positions Against For ShrHoldr
9 Review Executive Compensation Against Against ShrHoldr
10 Link Executive Compensation to Social Issues Against Against ShrHoldr
11 Report on Political Contributions Against Against ShrHoldr
12 Report on Charitable Contributions Against Against ShrHoldr
13 Amend Equal Employment Opportunity Policy Against Against ShrHoldr
to Prohibit Discrimination Based on Sexual
Orientation
14 Report on Damage Resulting from Against Against ShrHoldr
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 10
VOTE SUMMARY REPORT
Jul 01, 2005 - Jun 30, 2006
BLACKROCK CHESTNUT STREET EXCHANGE FUND
Mtg Company/ Mgmt Vote Record Shares
Date/Type Ballot Issues Security Rec Cast Date Prpnent Voted
- ------------------------------------------------------------------------------------------------------------------------------------
Drilling for Oil and gas in Protected
Areas
15 Report Accountability for Company's Against Against ShrHoldr
Environmental Impacts due to Operation
- --------------------------------------------------------------------------------
Mgmt Rec - Company Management Recommended Vote Page 11
- --------------------------------------------------------------------------------
AMERICAN INTERNATIONAL GROUP, INC.
Ticker Symbol: AIG CUSIP/Security ID: 026874107
Meeting Date: 2005-08-11 00:00:00.000 Country: USA
Record Date: 2005-06-24 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 28441 M Elect Director M. Aidinoff For For
1.2 Annual 28441 M Elect Director P. Chia For For
1.3 Annual 28441 M Elect Director M. Cohen For For
1.4 Annual 28441 M Elect Director W. Cohen For For
1.5 Annual 28441 M Elect Director M. Feldstein For For
1.6 Annual 28441 M Elect Director E. Futter For For
1.7 Annual 28441 M Elect Director S. Hammerman For For
1.8 Annual 28441 M Elect Director C. Hills For For
1.9 Annual 28441 M Elect Director R. Holbrooke For For
1.10 Annual 28441 M Elect Director D. Kanak For For
1.11 Annual 28441 M Elect Director G. Miles, Jr For For
1.12 Annual 28441 M Elect Director M. Offit For For
1.13 Annual 28441 M Elect Director M. Sullivan For For
1.14 Annual 28441 M Elect Director E. Tse For For
1.15 Annual 28441 M Elect Director F. Zarb For For
2 Annual 28441 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
ORACLE CORP.
Ticker Symbol: ORCL CUSIP/Security ID: 68389X105
Meeting Date: 2005-10-10 00:00:00.000 Country: USA
Record Date: 2005-08-15 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 73947 M Elect Director Jeffrey O. Henley For For
1.2 Annual 73947 M Elect Director Lawrence J. Ellison For For
1.3 Annual 73947 M Elect Director Donald L. Lucas For For
1.4 Annual 73947 M Elect Director Michael J. Boskin For For
1.5 Annual 73947 M Elect Director Jack F. Kemp For For
1.6 Annual 73947 M Elect Director Jeffrey S. Berg For For
1.7 Annual 73947 M Elect Director Safra A. Catz For For
1.8 Annual 73947 M Elect Director Hector Garcia-Molina For For
1.9 Annual 73947 M Elect Director Joseph A. Grundfest For For
1.10 Annual 73947 M Elect Director H. Raymond Bingham For For
1.11 Annual 73947 M Elect Director Charles E. Phillips, Jr. For For
2 Annual 73947 M Approve Executive Incentive Bonus Plan For For
3 Annual 73947 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
SARA LEE CORP.
Ticker Symbol: SLE CUSIP/Security ID: 803111103
Meeting Date: 2005-10-27 00:00:00.000 Country: USA
Record Date: 2005-09-01 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 45506 M Elect Director Brenda C. Barnes For For
1.2 Annual 45506 M Elect Director J.T. Battenberg, III For For
1.3 Annual 45506 M Elect Director Charles W. Coker For For
1.4 Annual 45506 M Elect Director James S. Crown For For
1.5 Annual 45506 M Elect Director Willie D. Davis For For
1.6 Annual 45506 M Elect Director Laurette T. Koellner For For
1.7 Annual 45506 M Elect Director Cornelis J.A. Van Lede For For
1.8 Annual 45506 M Elect Director Sir Ian Prosser For For
1.9 Annual 45506 M Elect Director Rozanne L. Ridgway For For
1.10 Annual 45506 M Elect Director Richard L. Thomas For For
1.11 Annual 45506 M Elect Director Jonathan P. Ward For For
2 Annual 45506 M Ratify Auditors For For
3 Annual 45506 M Approve Qualified Employee Stock Purchase Plan For For
4 Annual 45506 S Adopt ILO Based Code of Conduct Against Against
5 Annual 45506 S Eliminate or Restrict Severance Agreements Against For
(Change-in-Control)
6 Annual 45506 S Submit Shareholder Rights Plan (Poison Pill) Against For
to Shareholder Vote
</Table>
- --------------------------------------------------------------------------------
MICROSOFT CORP.
Ticker Symbol: MSFT CUSIP/Security ID: 594918104
Meeting Date: 2005-11-09 00:00:00.000 Country: USA
Record Date: 2005-09-09 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 105043 M Elect Director William H. Gates, III For For
1.2 Annual 105043 M Elect Director Steven A. Ballmer For For
1.3 Annual 105043 M Elect Director James I. Cash Jr. For For
1.4 Annual 105043 M Elect Director Dina Dublon For For
1.5 Annual 105043 M Elect Director Raymond V. Gilmartin For For
1.6 Annual 105043 M Elect Director A. Mclaughlin Korologos For For
1.7 Annual 105043 M Elect Director David F. Marquardt For For
1.8 Annual 105043 M Elect Director Charles H. Noski For For
1.9 Annual 105043 M Elect Director Helmut Panke For For
1.10 Annual 105043 M Elect Director Jon A. Shirley For For
2 Annual 105043 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
AIR PRODUCTS & CHEMICALS, INC.
Ticker Symbol: APD CUSIP/Security ID: 009158106
Meeting Date: 2006-01-26 00:00:00.000 Country: USA
Record Date: 2005-11-30 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 100609 M Elect Director Mario L. Baeza For For
1.2 Annual 100609 M Elect Director Edward E. Hagenlocker For For
1.3 Annual 100609 M Elect Director Terrence Murray For For
1.4 Annual 100609 M Elect Director Charles H. Noski For For
2 Annual 100609 M Ratify Auditors For For
3 Annual 100609 M Amend Omnibus Stock Plan For For
4 Annual 100609 M Approve Executive Incentive Bonus Plan For For
</Table>
- --------------------------------------------------------------------------------
EMERSON ELECTRIC CO.
Ticker Symbol: EMR CUSIP/Security ID: 291011104
Meeting Date: 2006-02-07 00:00:00.000 Country: USA
Record Date: 2005-11-29 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 90556 M Elect Director A. A. Busch,III For For
1.2 Annual 90556 M Elect Director A. F. Golden For For
1.3 Annual 90556 M Elect Director V. R. Loucks, Jr For For
1.4 Annual 90556 M Elect Director J. B. Menzer For For
2 Annual 90556 M Approve Omnibus Stock Plan For For
3 Annual 90556 M Ratify Auditors For For
4 Annual 90556 S Submit Severance Agreement (Change-in-Control) Against For
to Shareholder Vote
</Table>
- --------------------------------------------------------------------------------
THE WALT DISNEY COMPANY
Ticker Symbol: DIS CUSIP/Security ID: 254687106
Meeting Date: 2006-03-10 00:00:00.000 Country: USA
Record Date: 2006-01-09 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 129129 M Elect Director John E. Bryson For For
1.2 Annual 129129 M Elect Director John S. Chen For For
1.3 Annual 129129 M Elect Director Judith L. Estrin For For
1.4 Annual 129129 M Elect Director Robert A. Iger For For
1.5 Annual 129129 M Elect Director Fred H. Langhammer For For
1.6 Annual 129129 M Elect Director Aylin B. Lewis For For
1.7 Annual 129129 M Elect Director Monica C. Lozano For For
1.8 Annual 129129 M Elect Director Robert W. Matschullat For For
1.9 Annual 129129 M Elect Director George J. Mitchell For For
1.10 Annual 129129 M Elect Director Leo J. O' Donovan, S.J. For For
1.11 Annual 129129 M Elect Director John E. Pepper, Jr. For For
1.12 Annual 129129 M Elect Director Orin C. Smith For For
1.13 Annual 129129 M Elect Director Gary L. Wilson For For
2 Annual 129129 M Ratify Auditors For For
3 Annual 129129 S Company-Specific -- Shareholder Miscellaneous Against Against
4 Annual 129129 S Report on Vendor Standards in China Against Against
</Table>
- --------------------------------------------------------------------------------
HEWLETT-PACKARD CO.
Ticker Symbol: HPQ CUSIP/Security ID: 428236103
Meeting Date: 2006-03-15 00:00:00.000 Country: USA
Record Date: 2006-01-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 57923 M Elect Director P.C. Dunn For For
1.2 Annual 57923 M Elect Director L.T. Babbio, Jr. For For
1.3 Annual 57923 M Elect Director S.M. Baldauf For For
1.4 Annual 57923 M Elect Director R.A. Hackborn For For
1.5 Annual 57923 M Elect Director J.H. Hammergren For For
1.6 Annual 57923 M Elect Director M.V. Hurd For For
1.7 Annual 57923 M Elect Director G.A. Keyworth Ii For For
1.8 Annual 57923 M Elect Director T.J. Perkins For For
1.9 Annual 57923 M Elect Director R.L. Ryan For For
1.10 Annual 57923 M Elect Director L.S. Salhany For For
1.11 Annual 57923 M Elect Director R.P. Wayman For For
2 Annual 57923 M Ratify Auditors For For
3 Annual 57923 M Approve Executive Incentive Bonus Plan For For
4 Annual 57923 S Require a Majority Vote for the Election of Against Against
Directors
5 Annual 57923 S Claw-Back of Payments under Restatement Against Against
</Table>
- --------------------------------------------------------------------------------
CABOT MICROELECTRONICS CORP.
Ticker Symbol: CCMP CUSIP/Security ID: 12709P103
Meeting Date: 2006-03-07 00:00:00.000 Country: USA
Record Date: 2006-01-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 42373 M Elect Director John P. Frazee, Jr. For For
1.2 Annual 42373 M Elect Director William P. Noglows For For
1.3 Annual 42373 M Elect Director Albert Y.C. Yu For For
2 Annual 42373 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
CABOT CORP.
Ticker Symbol: CBT CUSIP/Security ID: 127055101
Meeting Date: 2006-03-09 00:00:00.000 Country: USA
Record Date: 2006-01-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 86032 M Elect Director Dirk L. Blevi For For
1.2 Annual 86032 M Elect Director John F. O'Brien For For
1.3 Annual 86032 M Elect Director Lydia W. Thomas For For
1.4 Annual 86032 M Elect Director Mark S. Wrighton For For
2 Annual 86032 M Ratify Auditors For For
3 Annual 86032 M Approve Omnibus Stock Plan For For
4 Annual 86032 M Approve Non-Employee Director Stock Option Plan For For
</Table>
- --------------------------------------------------------------------------------
GENERAL ELECTRIC CO.
Ticker Symbol: GE CUSIP/Security ID: 369604103
Meeting Date: 2006-04-26 00:00:00.000 Country: USA
Record Date: 2006-02-27 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 364049 M Elect Director James I. Cash, Jr. For For
1.2 Annual 364049 M Elect Director Sir William M. Castell For For
1.3 Annual 364049 M Elect Director Ann M. Fudge For For
1.4 Annual 364049 M Elect Director Claudio X. Gonzalez For For
1.5 Annual 364049 M Elect Director Jeffrey R. Immelt For For
1.6 Annual 364049 M Elect Director Andrea Jung For For
1.7 Annual 364049 M Elect Director Alan G. Lafley For For
1.8 Annual 364049 M Elect Director Robert W. Lane For For
1.9 Annual 364049 M Elect Director Ralph S. Larsen For For
1.10 Annual 364049 M Elect Director Rochelle B. Lazarus For For
1.11 Annual 364049 M Elect Director Sam Nunn For For
1.12 Annual 364049 M Elect Director Roger S. Penske For For
1.13 Annual 364049 M Elect Director Robert J. Swieringa For For
1.14 Annual 364049 M Elect Director Douglas A. Warner, III For For
1.15 Annual 364049 M Elect Director Robert C. Wright For For
2 Annual 364049 M Ratify Auditors For For
3 Annual 364049 S Restore or Provide for Cumulative Voting Against Against
4 Annual 364049 S Adopt Policy on Overboarded Directors Against Against
5 Annual 364049 S Company-Specific -- One Director from the Against Against
Ranks of the Retirees
6 Annual 364049 S Separate Chairman and CEO Positions Against Against
7 Annual 364049 S Require a Majority Vote for the Election of Against Against
Directors
8 Annual 364049 S Report on Environmental Policies Against Against
</Table>
- --------------------------------------------------------------------------------
MERCK & CO., INC.
Ticker Symbol: MRK CUSIP/Security ID: 589331107
Meeting Date: 2006-04-25 00:00:00.000 Country: USA
Record Date: 2006-02-24 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 349404 M Elect Director Richard T. Clark For For
1.2 Annual 349404 M Elect Director Lawrence A. Bossidy For For
1.3 Annual 349404 M Elect Director William G. Bowen, Ph.D. For For
1.4 Annual 349404 M Elect Director Johnnetta B. Cole, Ph.D. For For
1.5 Annual 349404 M Elect Director William B. Harrison, Jr. For For
1.6 Annual 349404 M Elect Director William N. Kelley, M.D. For For
1.7 Annual 349404 M Elect Director Rochelle B. Lazarus For For
1.8 Annual 349404 M Elect Director Thomas E. Shenk, Ph.D. For For
1.9 Annual 349404 M Elect Director Anne M. Tatlock For For
1.10 Annual 349404 M Elect Director Samuel O. Thier, M.D. For For
1.11 Annual 349404 M Elect Director Wendell P. Weeks For For
1.12 Annual 349404 M Elect Director Peter C. Wendell For For
2 Annual 349404 M Ratify Auditors For For
3 Annual 349404 M Approve Omnibus Stock Plan For For
4 Annual 349404 M Approve Non-Employee Director Omnibus Stock For For
Plan
5 Annual 349404 S Limit Executive Compensation Against Against
6 Annual 349404 S Adopt Simple Majority Vote Against For
7 Annual 349404 S Adopt Animal Welfare Standards Against Against
</Table>
- --------------------------------------------------------------------------------
INTERNATIONAL BUSINESS MACHINES CORP.
Ticker Symbol: IBM CUSIP/Security ID: 459200101
Meeting Date: 2006-04-25 00:00:00.000 Country: USA
Record Date: 2006-02-24 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 39708 M Elect Director Cathleen Black For For
1.2 Annual 39708 M Elect Director Kenneth I. Chenault For For
1.3 Annual 39708 M Elect Director Juergen Dormann For For
1.4 Annual 39708 M Elect Director Michael L. Eskew For For
1.5 Annual 39708 M Elect Director Shirley Ann Jackson For For
1.6 Annual 39708 M Elect Director Minoru Makihara For For
1.7 Annual 39708 M Elect Director Lucio A. Noto For For
1.8 Annual 39708 M Elect Director James W. Owens For For
1.9 Annual 39708 M Elect Director Samuel J. Palmisano For For
1.10 Annual 39708 M Elect Director Joan E. Spero For For
1.11 Annual 39708 M Elect Director Sidney Taurel For For
1.12 Annual 39708 M Elect Director Charles M. Vest For For
1.13 Annual 39708 M Elect Director Lorenzo H. Zambrano For Withhold
2 Annual 39708 M Ratify Auditors For For
3 Annual 39708 S Provide for Cumulative Voting Against Against
4 Annual 39708 S Evaluate Age Discrimination in Retirement Plans Against Against
5 Annual 39708 S Time-Based Equity Awards Against For
6 Annual 39708 S Increase Disclosure of Executive Compensation Against For
7 Annual 39708 S Report on Outsourcing Against Against
8 Annual 39708 S Implement/ Increase Activity on the China Against Against
Principles
9 Annual 39708 S Report on Political Contributions Against Against
10 Annual 39708 S Require a Majority Vote for the Election of Against Against
Directors
11 Annual 39708 S Adopt Simple Majority Vote Against For
</Table>
- --------------------------------------------------------------------------------
THE COCA-COLA COMPANY
Ticker Symbol: KO CUSIP/Security ID: 191216100
Meeting Date: 2006-04-19 00:00:00.000 Country: USA
Record Date: 2006-02-21 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 203875 M Elect Director Herbert A. Allen For For
1.2 Annual 203875 M Elect Director Ronald W. Allen For For
1.3 Annual 203875 M Elect Director Cathleen P. Black For For
1.4 Annual 203875 M Elect Director Barry Diller For For
1.5 Annual 203875 M Elect Director E. Neville Isdell For For
1.6 Annual 203875 M Elect Director Donald R. Keough For For
1.7 Annual 203875 M Elect Director Donald F. McHenry For For
1.8 Annual 203875 M Elect Director Sam Nunn For For
1.9 Annual 203875 M Elect Director James D. Robinson, III For For
1.10 Annual 203875 M Elect Director Peter V. Ueberroth For For
1.11 Annual 203875 M Elect Director James B. Williams For For
2 Annual 203875 M Ratify Auditors For For
3 Annual 203875 M Amend Restricted Stock Plan For For
4 Annual 203875 S Report on Charitable Contributions Against Against
5 Annual 203875 S Review/ Report on Recycling Policy Against Against
6 Annual 203875 S Performance-Based and/or Time-Based Equity Against For
Awards
7 Annual 203875 S Report on Environmental Liabilities in India Against Against
8 Annual 203875 S Sponsor Independent Inquiry into Operations in Against Against
Columbia
</Table>
- --------------------------------------------------------------------------------
WACHOVIA CORP.
Ticker Symbol: WB CUSIP/Security ID: 929903102
Meeting Date: 2006-04-18 00:00:00.000 Country: USA
Record Date: 2006-02-22 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 92150 M Elect Director William H. Goodwin, Jr. For For
1.2 Annual 92150 M Elect Director Robert A. Ingram For For
1.3 Annual 92150 M Elect Director Mackey J. McDonald For For
1.4 Annual 92150 M Elect Director Lanty L. Smith For For
1.5 Annual 92150 M Elect Director Ruth G. Shaw For For
1.6 Annual 92150 M Elect Director Ernest S. Rady For For
2 Annual 92150 M Ratify Auditors For For
3 Annual 92150 S Submit Severance Agreement (Change in Control) Against For
to shareholder Vote
4 Annual 92150 S Report on Political Contributions Against Against
5 Annual 92150 S Separate Chairman and CEO Positions Against Against
6 Annual 92150 S Require a Majority Vote for the Election of Against Against
Directors
</Table>
- --------------------------------------------------------------------------------
SCHLUMBERGER LTD.
Ticker Symbol: SLB CUSIP/Security ID: 806857108
Meeting Date: 2006-04-12 00:00:00.000 Country: NetherlandsAntilles
Record Date: 2006-03-01 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 57292 M Elect Director J. Deutch For For
1.2 Annual 57292 M Elect Director J.S. Gorelick For For
1.3 Annual 57292 M Elect Director A. Gould For For
1.4 Annual 57292 M Elect Director T. Isaac For For
1.5 Annual 57292 M Elect Director A. Lajous For For
1.6 Annual 57292 M Elect Director A. Levy-Lang For For
1.7 Annual 57292 M Elect Director M.E. Marks For For
1.8 Annual 57292 M Elect Director D. Primat For For
1.9 Annual 57292 M Elect Director T.I. Sandvold For For
1.10 Annual 57292 M Elect Director N. Seydoux For For
1.11 Annual 57292 M Elect Director L.G. Stuntz For For
1.12 Annual 57292 M Elect Director R. Talwar For For
2 Annual 57292 M ADOPTION AND APPROVAL OF FINANCIALS AND For For
DIVIDENDS
3 Annual 57292 M ADOPTION OF AMENDMENT TO THE ARTICLES OF For For
INCORPORATION
4 Annual 57292 M APPROVAL OF AMENDMENT AND RESTATEMENT OF THE For For
SCHLUMBERGER 2005 STOCK OPTION PLAN
5 Annual 57292 M APPROVAL OF INDEPENDENT REGISTERED PUBLIC For For
ACCOUNTING FIRM
</Table>
- --------------------------------------------------------------------------------
BP PLC (FORM. BP AMOCO PLC )
CUSIP/Security ID: 055622104
Meeting Date: 2006-04-20 00:00:00.000 Country: United Kingdom
Record Date: 2006-02-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1 Annual 41979 M TO RECEIVE THE DIRECTORS ANNUAL REPORT AND THE For For
ACCOUNTS
2 Annual 41979 M TO APPROVE THE DIRECTORS REMUNERATION REPORT For For
3.1 Annual 41979 M Elect Director Dr D C Allen For For
3.2 Annual 41979 M Elect Director Lord Browne For For
3.3 Annual 41979 M Elect Director Mr J H Bryan For For
3.4 Annual 41979 M Elect Director Mr A Burgmans For For
3.5 Annual 41979 M Elect Director Mr I C Conn For For
3.6 Annual 41979 M Elect Director Mr E B Davis, Jr For For
3.7 Annual 41979 M Elect Director Mr D J Flint For For
3.8 Annual 41979 M Elect Director Dr B E Grote For For
3.9 Annual 41979 M Elect Director Dr A B Hayward For For
3.10 Annual 41979 M Elect Director Dr D S Julius For For
3.11 Annual 41979 M Elect Director Sir Tom Mckillop For For
3.12 Annual 41979 M Elect Director Mr J A Manzoni For For
3.13 Annual 41979 M Elect Director Dr W E Massey For For
3.14 Annual 41979 M Elect Director Sir Ian Prosser For For
3.15 Annual 41979 M Elect Director Mr M H Wilson For For
3.16 Annual 41979 M Elect Director Mr P D Sutherland For For
4 Annual 41979 M Ratify Auditors For For
5 Annual 41979 M SPECIAL RESOLUTION: TO GIVE LIMITED AUTHORITY For For
FOR THE PURCHASE OF ITS OWN SHARES BY THE
COMPANY
6 Annual 41979 M TO GIVE AUTHORITY TO ALLOT SHARES UP TO A For For
SPECIFIED AMOUNT
7 Annual 41979 M SPECIAL RESOLUTION: TO GIVE AUTHORITY TO ALLOT For For
A LIMITED NUMBER OF SHARES FOR CASH WITHOUT
MAKING AN OFFER TO SHAREHOLDERS
</Table>
- --------------------------------------------------------------------------------
BURLINGTON NORTHERN SANTA FE CORP.
Ticker Symbol: BNI CUSIP/Security ID: 12189T104
Meeting Date: 2006-04-19 00:00:00.000 Country: USA
Record Date: 2006-02-28 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 113572 M Elect Director A.L. Boeckmann For For
1.2 Annual 113572 M Elect Director D.G. Cook For For
1.3 Annual 113572 M Elect Director V.S. Martinez For For
1.4 Annual 113572 M Elect Director M.F. Racicot For For
1.5 Annual 113572 M Elect Director R.S. Roberts For For
1.6 Annual 113572 M Elect Director M.K. Rose For For
1.7 Annual 113572 M Elect Director M.J. Shapiro For For
1.8 Annual 113572 M Elect Director J.C. Watts, Jr For For
1.9 Annual 113572 M Elect Director R.H. West For For
1.10 Annual 113572 M Elect Director J.S. Whisler For For
1.11 Annual 113572 M Elect Director E.E. Whitacre, Jr. For For
2 Annual 113572 M Ratify Auditors For For
3 Annual 113572 M Amend Omnibus Stock Plan For For
4 Annual 113572 M Amend Executive Incentive Bonus Plan For For
5 Annual 113572 S Require a Majority Vote for the Election of Against Against
Directors
6 Annual 113572 S Separate Chairman and CEO Positions Against For
</Table>
- --------------------------------------------------------------------------------
JOHNSON & JOHNSON
Ticker Symbol: JNJ CUSIP/Security ID: 478160104
Meeting Date: 2006-04-27 00:00:00.000 Country: USA
Record Date: 2006-02-28 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 542577 M Elect Director Mary S. Coleman For For
1.2 Annual 542577 M Elect Director James G. Cullen For For
1.3 Annual 542577 M Elect Director Robert J. Darretta For For
1.4 Annual 542577 M Elect Director Michael M. E. Johns For For
1.5 Annual 542577 M Elect Director Ann D. Jordan For For
1.6 Annual 542577 M Elect Director Arnold G. Langbo For For
1.7 Annual 542577 M Elect Director Susan L. Lindquist For For
1.8 Annual 542577 M Elect Director Leo F. Mullin For For
1.9 Annual 542577 M Elect Director Christine A. Poon For For
1.10 Annual 542577 M Elect Director Charles Prince For For
1.11 Annual 542577 M Elect Director Steven S. Reinemund For For
1.12 Annual 542577 M Elect Director David Satcher For For
1.13 Annual 542577 M Elect Director William C. Weldon For For
2 Annual 542577 M Amend Articles to Remove Antitakeover Provision For For
3 Annual 542577 M Ratify Auditors For For
4 Annual 542577 S Disclose Charitable Contributions Against Against
5 Annual 542577 S Require a Majority Vote for the Election of Against Against
Directors
</Table>
- --------------------------------------------------------------------------------
FREESCALE SEMICONDUCTOR, INC.
Ticker Symbol: FSL CUSIP/Security ID: 35687M206
Meeting Date: 2006-04-21 00:00:00.000 Country: USA
Record Date: 2006-02-21 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 30192 M Elect Director Kenin Kennedy For For
1.2 Annual 30192 M Elect Director Michael Mayer For For
2 Annual 30192 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
WELLS FARGO & COMPANY
Ticker Symbol: WFC CUSIP/Security ID: 949746101
Meeting Date: 2006-04-25 00:00:00.000 Country: USA
Record Date: 2006-03-07 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 298190 M Elect Director Lloyd H. Dean For For
1.2 Annual 298190 M Elect Director Susan E. Engel For For
1.3 Annual 298190 M Elect Director Enrique Hernandez, Jr. For For
1.4 Annual 298190 M Elect Director Robert L. Joss For For
1.5 Annual 298190 M Elect Director Richard M. Kovacevich For For
1.6 Annual 298190 M Elect Director Richard D. McCormick For For
1.7 Annual 298190 M Elect Director Cynthia H. Milligan For For
1.8 Annual 298190 M Elect Director Nicholas G. Moore For For
1.9 Annual 298190 M Elect Director Philip J. Quigley For For
1.10 Annual 298190 M Elect Director Donald B. Rice For For
1.11 Annual 298190 M Elect Director Judith M. Runstad For For
1.12 Annual 298190 M Elect Director Stephen W. Sanger For For
1.13 Annual 298190 M Elect Director Susan G. Swenson For For
1.14 Annual 298190 M Elect Director Michael W. Wright For For
2 Annual 298190 M Ratify Auditors For For
3 Annual 298190 S Require a Majority Vote for the Election of Against Against
Directors
4 Annual 298190 S Separate Chairman and CEO Positions Against For
5 Annual 298190 S Compensation- Director Compensation Against Against
6 Annual 298190 S Report on Discrimination in Lending Against Against
</Table>
- --------------------------------------------------------------------------------
AMERIPRISE FINANCIAL, INC.
Ticker Symbol: AMP CUSIP/Security ID: 03076C106
Meeting Date: 2006-04-26 00:00:00.000 Country: USA
Record Date: 2006-02-28 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 22266 M Elect Director Ira D. Hall For For
1.2 Annual 22266 M Elect Director Jeffrey Noddle For For
1.3 Annual 22266 M Elect Director Richard F. Powers, III For For
2 Annual 22266 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
MOTOROLA, INC.
Ticker Symbol: MOT CUSIP/Security ID: 620076109
Meeting Date: 2006-05-01 00:00:00.000 Country: USA
Record Date: 2006-03-03 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 273453 M Elect Director E. Zander For For
1.2 Annual 273453 M Elect Director H.L. Fuller For Against
1.3 Annual 273453 M Elect Director J. Lewent For For
1.4 Annual 273453 M Elect Director T. Meredith For For
1.5 Annual 273453 M Elect Director N. Negroponte For For
1.6 Annual 273453 M Elect Director I. Nooyi For For
1.7 Annual 273453 M Elect Director S. Scott, III For For
1.8 Annual 273453 M Elect Director R. Sommer For For
1.9 Annual 273453 M Elect Director J. Stengel For For
1.10 Annual 273453 M Elect Director D. Warner, III For For
1.11 Annual 273453 M Elect Director J. White For For
1.12 Annual 273453 M Elect Director M. White For For
2 Annual 273453 M Approve Omnibus Stock Plan For For
3 Annual 273453 S Submit Shareholder Rights Plan (Poison Pill) Against For
to Shareholder Vote
</Table>
- --------------------------------------------------------------------------------
VERIZON COMMUNICATIONS
Ticker Symbol: VZ CUSIP/Security ID: 92343V104
Meeting Date: 2006-05-04 00:00:00.000 Country: USA
Record Date: 2006-03-06 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 143830 M Elect Director James R. Barker For For
1.2 Annual 143830 M Elect Director Richard L. Carrion For For
1.3 Annual 143830 M Elect Director Robert W. Lane For For
1.4 Annual 143830 M Elect Director Sandra O. Moose For For
1.5 Annual 143830 M Elect Director Joseph Neubauer For For
1.6 Annual 143830 M Elect Director Donald T. Nicolaisen For For
1.7 Annual 143830 M Elect Director Thomas H. O'Brien For For
1.8 Annual 143830 M Elect Director Clarence Otis, Jr. For For
1.9 Annual 143830 M Elect Director Hugh B. Price For For
1.10 Annual 143830 M Elect Director Ivan G. Seidenberg For For
1.11 Annual 143830 M Elect Director Walter V. Shipley For For
1.12 Annual 143830 M Elect Director John R. Stafford For For
1.13 Annual 143830 M Elect Director Robert D. Storey For For
2 Annual 143830 M Ratify Auditors For For
3 Annual 143830 S Restore or Provide for Cumulative Voting Against Against
4 Annual 143830 S Require a Majority Vote for the Election of Against Against
Directors
5 Annual 143830 S Require Majority of Independent Directors on Against Against
Board
6 Annual 143830 S Company-Specific-Directors on Common Boards Against Against
7 Annual 143830 S Separate Chairman and CEO Positions Against For
8 Annual 143830 S Performance-Based and/or Time-Based Equity Against Against
Awards
9 Annual 143830 S Report on Political Contributions Against Against
</Table>
- --------------------------------------------------------------------------------
BANK OF AMERICA CORP.
Ticker Symbol: BAC CUSIP/Security ID: 060505104
Meeting Date: 2006-04-26 00:00:00.000 Country: USA
Record Date: 2006-03-03 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 394928 M Elect Director William Barnet, III For For
1.2 Annual 394928 M Elect Director Frank P. Bramble, Sr. For For
1.3 Annual 394928 M Elect Director John T. Collins For For
1.4 Annual 394928 M Elect Director Gary L. Countryman For For
1.5 Annual 394928 M Elect Director Tommy R. Franks For For
1.6 Annual 394928 M Elect Director Paul Fulton For For
1.7 Annual 394928 M Elect Director Charles K. Gifford For For
1.8 Annual 394928 M Elect Director W. Steven Jones For For
1.9 Annual 394928 M Elect Director Kenneth D. Lewis For For
1.10 Annual 394928 M Elect Director Monica C. Lozano For For
1.11 Annual 394928 M Elect Director Walter E. Massey For For
1.12 Annual 394928 M Elect Director Thomas J. May For For
1.13 Annual 394928 M Elect Director Patricia E. Mitchell For For
1.14 Annual 394928 M Elect Director Thomas M. Ryan For For
1.15 Annual 394928 M Elect Director O. Temple Sloan, Jr. For For
1.16 Annual 394928 M Elect Director Meredith R. Spangler For For
1.17 Annual 394928 M Elect Director Robert L. Tillman For For
1.18 Annual 394928 M Elect Director Jackie M. Ward For For
2 Annual 394928 M Ratify Auditors For For
3 Annual 394928 M Amend Omnibus Stock Plan For For
4 Annual 394928 S Publish Political Contributions Against Against
5 Annual 394928 S Require a Majority Vote for the Election of Against Against
Directors
6 Annual 394928 S Provide for an Independent Chairman Against For
7 Annual 394928 S Exclude Reference to Sexual Orientation from Against Against
the Company's EEO Statement
</Table>
- --------------------------------------------------------------------------------
BAXTER INTERNATIONAL INC.
Ticker Symbol: BAX CUSIP/Security ID: 071813109
Meeting Date: 2006-05-09 00:00:00.000 Country: USA
Record Date: 2006-03-13 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 64986 M Elect Director Walter E. Boomer For For
1.2 Annual 64986 M Elect Director James R. Gavin, III For For
1.3 Annual 64986 M Elect Director Peter S. Hellman For For
1.4 Annual 64986 M Elect Director K.J. Storm For For
2 Annual 64986 M Ratify Auditors For For
3 Annual 64986 M Declassify the Board of Directors For Against
4 Annual 64986 M Establish Range For Board Size For For
5 Annual 64986 S Submit Shareholder Rights Plan (Poison Pill) Against For
to Shareholder Vote
</Table>
- --------------------------------------------------------------------------------
AMERICAN EXPRESS CO.
Ticker Symbol: AXP CUSIP/Security ID: 025816109
Meeting Date: 2006-04-24 00:00:00.000 Country: USA
Record Date: 2006-02-28 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 111332 M Elect Director Daniel F. Akerson For For
1.2 Annual 111332 M Elect Director Charlene Barshefsky For For
1.3 Annual 111332 M Elect Director Ursula M. Burns For For
1.4 Annual 111332 M Elect Director Kenneth I. Chenault For For
1.5 Annual 111332 M Elect Director Peter Chernin For For
1.6 Annual 111332 M Elect Director Peter R. Dolan For For
1.7 Annual 111332 M Elect Director Vernon E. Jordan, Jr. For For
1.8 Annual 111332 M Elect Director Jan Leschly For For
1.9 Annual 111332 M Elect Director Ricahrd A. McGinn For For
1.10 Annual 111332 M Elect Director Edward D. Miller For For
1.11 Annual 111332 M Elect Director Frank P. Popoff For For
1.12 Annual 111332 M Elect Director Robert D. Walter For For
2 Annual 111332 M Ratify Auditors For For
3 Annual 111332 S Limit/Prohibit Executive Stock-Based Awards Against Against
4 Annual 111332 S Require a Majority Vote for the Election of Against Against
Directors
5 Annual 111332 S Exclude Reference to Sexual Orientation from Against Against
the Company's EEO Statement
6 Annual 111332 S Company-Specific -- Reimbursement of Expenses Against Against
for Certain Shareholder-Nominated Director
Candidates
</Table>
- --------------------------------------------------------------------------------
INTEL CORP.
Ticker Symbol: INTC CUSIP/Security ID: 458140100
Meeting Date: 2006-05-17 00:00:00.000 Country: USA
Record Date: 2006-03-20 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1 Annual 1157967 M Elect Director Craig R. Barrett For For
2 Annual 1157967 M Elect Director Charlene Barshefsky For For
3 Annual 1157967 M Elect Director E. John P. Browne For For
4 Annual 1157967 M Elect Director D. James Guzy For For
5 Annual 1157967 M Elect Director Reed E. Hundt For For
6 Annual 1157967 M Elect Director Paul S. Otellini For For
7 Annual 1157967 M Elect Director James D. Plummer For For
8 Annual 1157967 M Elect Director David S. Pottruck For For
9 Annual 1157967 M Elect Director Jane E. Shaw For For
10 Annual 1157967 M Elect Director John L. Thornton For For
11 Annual 1157967 M Elect Director David B. Yoffie For For
12 Annual 1157967 M Rescind Fair Price Provision For For
13 Annual 1157967 M Amend Articles/Bylaws/Repeal Supermajority Vote For For
14 Annual 1157967 M Ratify Auditors For For
15 Annual 1157967 M Approve Omnibus Stock Plan For For
16 Annual 1157967 M Approve Qualified Employee Stock Purchase Plan For For
</Table>
- --------------------------------------------------------------------------------
MOODY'S CORPORATION
Ticker Symbol: MCO CUSIP/Security ID: 615369105
Meeting Date: 2006-04-25 00:00:00.000 Country: USA
Record Date: 2006-03-01 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 96032 M Elect Director Ewald Kist For For
1.2 Annual 96032 M Elect Director Henry A. McKinnell For For
1.3 Annual 96032 M Elect Director John K. Wulff For For
2 Annual 96032 M Ratify Auditors For For
3 Annual 96032 S Declassify the Board of Directors Against Against
</Table>
- --------------------------------------------------------------------------------
PITNEY BOWES INC.
Ticker Symbol: PBI CUSIP/Security ID: 724479100
Meeting Date: 2006-05-08 00:00:00.000 Country: USA
Record Date: 2006-03-10 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 39154 M Elect Director Anne Sutherland Fuchs For For
1.2 Annual 39154 M Elect Director James H. Keyes For For
1.3 Annual 39154 M Elect Director David L. Shedlarz For For
1.4 Annual 39154 M Elect Director David B. Snow, Jr. For For
2 Annual 39154 M Ratify Auditors For For
3 Annual 39154 M Amend Executive Incentive Bonus Plan For For
4 Annual 39154 M Approve Qualified Employee Stock Purchase Plan For For
</Table>
- --------------------------------------------------------------------------------
ABBOTT LABORATORIES
Ticker Symbol: ABT CUSIP/Security ID: 002824100
Meeting Date: 2006-04-28 00:00:00.000 Country: USA
Record Date: 2006-03-01 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 231254 M Elect Director Roxanne S. Austin For For
1.2 Annual 231254 M Elect Director William M. Daley For For
1.3 Annual 231254 M Elect Director W. James Farrell For For
1.4 Annual 231254 M Elect Director H. Laurance Fuller For For
1.5 Annual 231254 M Elect Director Richard A. Gonzalez For For
1.6 Annual 231254 M Elect Director Jack M. Greenberg For For
1.7 Annual 231254 M Elect Director Lord Owen For For
1.8 Annual 231254 M Elect Director Boone Powell, Jr. For For
1.9 Annual 231254 M Elect Director W. Ann Reynolds, Ph.D. For For
1.10 Annual 231254 M Elect Director Roy S. Roberts For For
1.11 Annual 231254 M Elect Director William D. Smithburg For For
1.12 Annual 231254 M Elect Director John R. Walter For For
1.13 Annual 231254 M Elect Director Miles D. White For For
2 Annual 231254 M Ratify Auditors For For
3 Annual 231254 S Performance-Based Equity Awards Against For
4 Annual 231254 S Report on Political Contributions Against Against
5 Annual 231254 S Separate Chairman and CEO Positions Against For
</Table>
- --------------------------------------------------------------------------------
UNION PACIFIC CORP.
Ticker Symbol: UNP CUSIP/Security ID: 907818108
Meeting Date: 2006-05-04 00:00:00.000 Country: USA
Record Date: 2006-02-23 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 37922 M Elect Director Jr. Richard K. Davidson For For
1.2 Annual 37922 M Elect Director Erroll B. Davis For For
1.3 Annual 37922 M Elect Director Thomas J. Donohue For For
1.4 Annual 37922 M Elect Director Archie W. Dunham For For
1.5 Annual 37922 M Elect Director Judith Richards Hope For For
1.6 Annual 37922 M Elect Director Charles C. Krulak For For
1.7 Annual 37922 M Elect Director Michael W. McConnell For For
1.8 Annual 37922 M Elect Director Steven R. Rogel For For
1.9 Annual 37922 M Elect Director James R. Young For For
2 Annual 37922 M Ratify Auditors For For
3 Annual 37922 S Require a Majority Vote for the Election of Against Against
Directors
4 Annual 37922 S Report on Political Contributions Against Against
5 Annual 37922 S Provide for an Independent Chairman Against For
</Table>
- --------------------------------------------------------------------------------
COMCAST CORP.
Ticker Symbol: CMCSA CUSIP/Security ID: 20030N101
Meeting Date: 2006-05-18 00:00:00.000 Country: USA
Record Date: 2006-03-10 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 99829 M Elect Director S. Decker Anstrom For For
1.2 Annual 99829 M Elect Director Kenneth J. Bacon For For
1.3 Annual 99829 M Elect Director Sheldon M. Bonovitz For For
1.4 Annual 99829 M Elect Director Edward D. Breen For For
1.5 Annual 99829 M Elect Director Julian A. Brodsky For For
1.6 Annual 99829 M Elect Director Joseph J. Collins For For
1.7 Annual 99829 M Elect Director J. Michael Cook For For
1.8 Annual 99829 M Elect Director Jeffrey A. Honickman For For
1.9 Annual 99829 M Elect Director Brian L. Roberts For For
1.10 Annual 99829 M Elect Director Ralph J. Roberts For For
1.11 Annual 99829 M Elect Director Judith Rodin For For
1.12 Annual 99829 M Elect Director Michael I. Sovern For For
2 Annual 99829 M Ratify Auditors For For
3 Annual 99829 M Amend Qualified Employee Stock Purchase Plan For For
4 Annual 99829 M Amend Restricted Stock Plan For For
5 Annual 99829 M Approve Executive Incentive Bonus Plan For For
6 Annual 99829 S Put Repricing of Stock Options to Shareholder Against Against
Vote
7 Annual 99829 S Separate Chairman and CEO Positions Against For
8 Annual 99829 S Limit Executive Compensation Against Against
9 Annual 99829 S Company-Specific-Adopt Recapitalization Plan Against For
10 Annual 99829 S Establish Other Board Committee Against For
</Table>
- --------------------------------------------------------------------------------
IMS HEALTH INC.
Ticker Symbol: RX CUSIP/Security ID: 449934108
Meeting Date: 2006-05-05 00:00:00.000 Country: USA
Record Date: 2006-03-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 75385 M Elect Director John P. Imlay, Jr. For For
1.2 Annual 75385 M Elect Director Robert J. Kamerschen For For
1.3 Annual 75385 M Elect Director H. Eugene Lockhart For For
2 Annual 75385 M Ratify Auditors For For
3 Annual 75385 M Amend Omnibus Stock Plan For For
4 Annual 75385 S Submit Shareholder Rights Plan (Poison Pill) Against Against
to Shareholder Vote
</Table>
- --------------------------------------------------------------------------------
3M CO
Ticker Symbol: MMM CUSIP/Security ID: 88579Y101
Meeting Date: 2006-05-09 00:00:00.000 Country: USA
Record Date: 2006-03-10 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 144103 M Elect Director Linda G. Alvarado For For
1.2 Annual 144103 M Elect Director Edward M. Liddy For For
1.3 Annual 144103 M Elect Director Robert S. Morrison For For
1.4 Annual 144103 M Elect Director Aulana L. Peters For For
2 Annual 144103 M Ratify Auditors For For
3 Annual 144103 M Declassify the Board of Directors For Against
4 Annual 144103 S Performance-Based Against For
5 Annual 144103 S Adopt Animal Welfare Policy Against Against
6 Annual 144103 S Implement China Principles Against Against
</Table>
- --------------------------------------------------------------------------------
MARSH & MCLENNAN COMPANIES, INC.
Ticker Symbol: MMC CUSIP/Security ID: 571748102
Meeting Date: 2006-05-18 00:00:00.000 Country: USA
Record Date: 2006-03-20 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 110307 M Elect Director Leslie M. Baker, Jr. For For
1.2 Annual 110307 M Elect Director Gwendolyn S. King For For
1.3 Annual 110307 M Elect Director Marc D. Oken For For
1.4 Annual 110307 M Elect Director David A. Olsen For For
2 Annual 110307 M Ratify Auditors For For
3 Annual 110307 S Require a Majority Vote for the Election of Against Against
Directors
4 Annual 110307 S Report on Political Contributions Against Against
</Table>
- --------------------------------------------------------------------------------
HOSPIRA INC
Ticker Symbol: HSP CUSIP/Security ID: 441060100
Meeting Date: 2006-05-17 00:00:00.000 Country: USA
Record Date: 2006-03-20 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 23125 M Elect Director Ronald A. Matricaria For For
1.2 Annual 23125 M Elect Director Christopher B. Begley For For
1.3 Annual 23125 M Elect Director John C. Staley For For
1.4 Annual 23125 M Elect Director Mark F. Wheeler For For
2 Annual 23125 M Ratify Auditors For For
</Table>
- --------------------------------------------------------------------------------
JPMORGAN CHASE & CO.
Ticker Symbol: JPM CUSIP/Security ID: 46625H100
Meeting Date: 2006-05-16 00:00:00.000 Country: USA
Record Date: 2006-03-17 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 140310 M Elect Director John H. Biggs For For
1.2 Annual 140310 M Elect Director Stephen B. Burke For For
1.3 Annual 140310 M Elect Director James S. Crown For For
1.4 Annual 140310 M Elect Director James Dimon For For
1.5 Annual 140310 M Elect Director Ellen V. Futter For For
1.6 Annual 140310 M Elect Director William H. Gray, III For For
1.7 Annual 140310 M Elect Director William B. Harrison, Jr. For For
1.8 Annual 140310 M Elect Director Laban P. Jackson, Jr. For For
1.9 Annual 140310 M Elect Director John W. Kessler For For
1.10 Annual 140310 M Elect Director Robert I. Lipp For For
1.11 Annual 140310 M Elect Director Richard A. Manoogian For For
1.12 Annual 140310 M Elect Director David C. Novak For For
1.13 Annual 140310 M Elect Director Lee R. Raymond For For
1.14 Annual 140310 M Elect Director William C. Weldon For For
2 Annual 140310 M Ratify Auditors For For
3 Annual 140310 S Put Repricing of Stock Options to Shareholder Against Against
Vote
4 Annual 140310 S Performance-Based Equity Awards Against For
5 Annual 140310 S Separate Chairman and CEO Positions Against For
6 Annual 140310 S Remove Reference to Sexual Orientation from Against Against
EEO Statement
7 Annual 140310 S Amend Articles/Bylaws/Charter -- Call Special Against For
Meetings
8 Annual 140310 S Report on Lobbying Activities Against Against
9 Annual 140310 S Report on Political Contributions Against Against
10 Annual 140310 S Approve Terms of Existing Poison Pill Against Against
11 Annual 140310 S Provide for Cumulative Voting Against Against
12 Annual 140310 S Claw-back of Payments under Restatements Against Against
13 Annual 140310 S Require Director Nominee Qualifications Against Against
</Table>
- --------------------------------------------------------------------------------
AMERICAN INTERNATIONAL GROUP, INC.
Ticker Symbol: AIG CUSIP/Security ID: 026874107
Meeting Date: 2006-05-17 00:00:00.000 Country: USA
Record Date: 2006-03-24 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 28441 M Elect Director Pei-yuan Chia For For
1.2 Annual 28441 M Elect Director Marshall A. Cohen For For
1.3 Annual 28441 M Elect Director Martin S. Feldstein For For
1.4 Annual 28441 M Elect Director Ellen V. Futter For For
1.5 Annual 28441 M Elect Director Stephen L. Hammerman For For
1.6 Annual 28441 M Elect Director Richard C. Holbrooke For For
1.7 Annual 28441 M Elect Director Fred H. Langhammer For For
1.8 Annual 28441 M Elect Director George L. Miles, Jr. For For
1.9 Annual 28441 M Elect Director Morris W. Offit For For
1.10 Annual 28441 M Elect Director James F. Orr, III For For
1.11 Annual 28441 M Elect Director Martin J. Sullivan For For
1.12 Annual 28441 M Elect Director Michael H. Sutton For For
1.13 Annual 28441 M Elect Director Edmund S.W. Tse For For
1.14 Annual 28441 M Elect Director Robert B. Willumstad For For
1.15 Annual 28441 M Elect Director Frank G. Zarb For For
2 Annual 28441 M Ratify Auditors For For
3 Annual 28441 M Approve Executive Incentive Bonus Plan For For
</Table>
- --------------------------------------------------------------------------------
EXXON MOBIL CORP.
Ticker Symbol: XOM CUSIP/Security ID: 30231G102
Meeting Date: 2006-05-31 00:00:00.000 Country: USA
Record Date: 2006-04-06 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 147227 M Elect Director Michael J. Boskin For For
1.2 Annual 147227 M Elect Director William W. George For For
1.3 Annual 147227 M Elect Director James R. Houghton For For
1.4 Annual 147227 M Elect Director William R. Howell For For
1.5 Annual 147227 M Elect Director Reatha Clark King For For
1.6 Annual 147227 M Elect Director Philip E. Lippincott For For
1.7 Annual 147227 M Elect Director Henry A. McKinnell, Jr. For For
1.8 Annual 147227 M Elect Director Marilyn Carlson Nelson For For
1.9 Annual 147227 M Elect Director Samuel J. Palmisano For For
1.10 Annual 147227 M Elect Director Walter V. Shipley For For
1.11 Annual 147227 M Elect Director J. Stephen Simon For For
1.12 Annual 147227 M Elect Director Rex W. Tillerson For For
2 Annual 147227 M Ratify Auditors For For
3 Annual 147227 S Provide for Cumulative Voting Against Against
4 Annual 147227 S Require a Majority Vote for the Election of Against Against
Directors
5 Annual 147227 S Company-Specific-Nominate Independent Director Against Against
with Industry Experience
6 Annual 147227 S Require Director Nominee Qualifications Against Against
7 Annual 147227 S Non-Employee Director Compensation Against Against
8 Annual 147227 S Separate Chairman and CEO Positions Against For
9 Annual 147227 S Review Executive Compensation Against Against
10 Annual 147227 S Link Executive Compensation to Social Issues Against Against
11 Annual 147227 S Report on Political Contributions Against Against
12 Annual 147227 S Report on Charitable Contributions Against Against
13 Annual 147227 S Amend Equal Employment Opportunity Policy to Against Against
Prohibit Discrimination Based on Sexual
Orientation
14 Annual 147227 S Report on Damage Resulting from Drilling for Against Against
Oil and gas in Protected Areas
15 Annual 147227 S Report Accountability for Company's Against Against
Environmental Impacts due to Operation
</Table>
- --------------------------------------------------------------------------------
SAFEWAY INC.
Ticker Symbol: SWY CUSIP/Security ID: 786514208
Meeting Date: 2006-05-25 00:00:00.000 Country: USA
Record Date: 2006-03-27 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1 Annual 44558 M Elect Director Steven A. Burd For For
2 Annual 44558 M Elect Director Janet E. Grove For For
3 Annual 44558 M Elect Director Mohan Gyani For For
4 Annual 44558 M Elect Director Paul Hazen For For
5 Annual 44558 M Elect Director Robert I. MacDonnell For For
6 Annual 44558 M Elect Director Douglas J. MacKenzie For For
7 Annual 44558 M Elect Director Rebecca A. Stirn For For
8 Annual 44558 M Elect Director William Y. Tauscher For For
9 Annual 44558 M Elect Director Raymond G. Viault For For
10 Annual 44558 M Approve Executive Incentive Bonus Plan For For
11 Annual 44558 M Ratify Auditors For For
12 Annual 44558 S Provide for Cumulative Voting Against Against
13 Annual 44558 S Eliminate or Restrict Severance Agreements Against For
(Change-in-Control)
14 Annual 44558 S Company-Specific-Establishment of an Office of Against Against
the Board
15 Annual 44558 S Adopt Policy to Identify and Label Food Against Against
Products that Contain Genetically Engineered
Ingredients
16 Annual 44558 S Issue Sustainability Report Against Against
</Table>
- --------------------------------------------------------------------------------
MEDCO HEALTH SOLUTIONS INC
Ticker Symbol: MHS CUSIP/Security ID: 58405U102
Meeting Date: 2006-05-24 00:00:00.000 Country: USA
Record Date: 2006-03-29 00:00:00.000
<Table>
<Caption>
BALLOT
ITEM MEETING BALLOT
NUMBER TYPE SHARES MORS ITEMDESC MGTRECVOTE VOTECAST NOTE
- -----------------------------------------------------------------------------------------------------------------------------------
1.1 Annual 45931 M Elect Director Lawrence S. Lewin For For
1.2 Annual 45931 M Elect Director Charles M. Lillis For For
1.3 Annual 45931 M Elect Director Edward H. Shortliffe, M.D., For For
Ph.D.
1.4 Annual 45931 M Elect Director David D. Stevens For For
2 Annual 45931 M Ratify Auditors For For
</Table>
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Registrant Chestnut Street Exchange Fund
----------------------------------------------------------------
By (Signature and Title)*s/s
---------------------------------------------------
Edward J. Roach, President & Treasurer
(Principal Executive Officer)
Date August 28, 2006
- ----------------------------------------------------------------------------
*Print the name and title of each signing officer under his or her signature.