As filed with the Securities and Exchange Commission on August 31, 2004
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act File Number: 811-5994
THE FRANCE GROWTH FUND, INC.
----------------------------
(Exact Name of the Registrant as Specified in Charter)
245 Park Avenue, 39th Floor
New York, New York 10167
(Address of Principal Executive Offices - Zip Code)
Registrant's Telephone Number, including area code: (212) 792-4222
Edmund P. Bergan, Jr., Vice Chairman
c/o The France Growth Fund, Inc.
245 Park Avenue, 39th Floor
New York, New York 10167
(Names and Addresses of agent for service)
with copies to:
Margaret A. Bancroft, Esq.
Dechert LLP
30 Rockefeller Plaza
New York, NY 10112
Date of fiscal year end: December 31
Date of reporting period: July 1, 2003 - June 30, 2004
Page 1
Item 1. Proxy Voting Record.
ALCATEL (FORMERLY ALCATEL ALSTHOM)
Ticker: ALA Security ID: F0191J101
Meeting Date: JUN 4, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Treatment of Losses For For Management
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Jozef Cornu as Director For For Management
6 Authorize Issuance of Bonds/Debentures in For Against Management
the Aggregate Amount of EUR 10 Billion
7 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
8 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
9 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 750 Million
10 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 750 Million
11 Set Global Limit for Capital Increase to For For Management
Result from All Issuance Requests At EUR
750 Million
12 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
13 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 2
ALCATEL (FORMERLY ALCATEL ALSTHOM)
Ticker: ALA Security ID: F0191J101
Meeting Date: MAY 25, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Treatment of Losses For For Management
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Jozef Cornu as Director For For Management
6 Authorize Issuance of Bonds/Debentures in For Against Management
the Aggregate Amount of EUR 10 Billion
7 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
8 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
9 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 750 Million
10 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 750 Million
11 Set Global Limit for Capital Increase to For For Management
Result from All Issuance Requests At EUR
750 Million
12 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
13 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 3
BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)
Ticker: Security ID: F1058Q238
Meeting Date: MAY 13, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For For Management
and Statutory Reports
2 Approve Financial Statements and For For Management
Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 2.175 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Authorize Issuance of Bonds/Debentures in For For Management
the Nominal Value of Up to EUR 30 Billion
6 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
7 Reelect Louis Schweitzer as Director For For Management
8 Reelect Lindsay Owen-Jones as Director For For Management
9 Confirm Expiration of Term of David Peake For For Management
as Director
10 Authorize Filing of Required For For Management
Documents/Other Formalities
11 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 1 Billion
12 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 340 Million
13 Authorize Capitalization of Reserves of For For Management
Up to EUR 1 Billion for Bonus Issue or
Increase in Par Value
14 Allow Board to Issue Shares in the Event For For Management
of a Public Tender Offer or Share
Exchange Offer, Subject to Certain
Conditions
15 Amend Terms of Capital Increase Reserved For For Management
for Employees Participating in
Savings-Related Share Purchase Plan
Submitted to Shareholder Vote at May 14,
2003, AGM/EGM
16 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
17 Amend Articles of Association Re: Role of For For Management
Chairman, Access to Information, Internal
Control Procedures, Convening of Board
Meetings, and Signing of the Minutes of
Board Meetings
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 4
BNP PARIBAS SA (FM. BANQUE NATIONALE DE PARIS)
Ticker: Security ID: F1058Q238
Meeting Date: MAY 28, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
2 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
3 Approve Allocation of Income and For Did Not Management
Dividends of EUR 2.175 per Share Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Authorize Issuance of Bonds/Debentures in For Did Not Management
the Nominal Value of Up to EUR 30 Billion Vote
6 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
7 Reelect Louis Schweitzer as Director For Did Not Management
Vote
8 Reelect Lindsay Owen-Jones as Director For Did Not Management
Vote
9 Confirm Expiration of Term of David Peake For Did Not Management
as Director Vote
10 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
11 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities with Preemptive Vote
Rights up to Aggregate Nominal Amount of
EUR 1 Billion
12 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities without Vote
Preemptive Rights up to Aggregate Nominal
Amount of EUR 340 Million
13 Authorize Capitalization of Reserves of For Did Not Management
Up to EUR 1 Billion for Bonus Issue or Vote
Increase in Par Value
14 Allow Board to Issue Shares in the Event For Did Not Management
of a Public Tender Offer or Share Vote
Exchange Offer, Subject to Certain
Conditions
15 Amend Terms of Capital Increase Reserved For Did Not Management
for Employees Participating in Vote
Savings-Related Share Purchase Plan
Submitted to Shareholder Vote at May 14,
2003, AGM/EGM
16 Approve Reduction in Share Capital via For Did Not Management
Cancellation of Repurchased Shares Vote
17 Amend Articles of Association Re: Role of For Did Not Management
Chairman, Access to Information, Internal Vote
Control Procedures, Convening of Board
Meetings, and Signing of the Minutes of
Board Meetings
18 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 5
BONDUELLE S.C.A.
Ticker: Security ID: F10689119
Meeting Date: DEC 10, 2003 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Consolidated Accounts and For For Management
Discharge Directors and Auditors
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 1.87 per Share
5 Approve Remuneration of Supervisory Board For For Management
in the Aggregate Amount of EUR 4,500
6 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
7 Reelect Bruno Bonduelle as Supervisory For For Management
Board Member
8 Reelect Felix Bonduelle as Supervisory For For Management
Board Member
9 Reelect Jean-Marie Bonduelle as For For Management
Supervisory Board Member
10 Reelect Andre Bonduelle as Supervisory For For Management
Board Member
11 Reelect Olivier Cavrois as Supervisory For For Management
Board Member
12 Reelect Stanlislas Dalle as Supervisory For For Management
Board Member
13 Reelect Francis Danjou as Supervisory For For Management
Board Member
14 Reelect Jean Gueguen as Supervisory Board For For Management
Member
15 Elect Andre Crespel as Supervisory Board For For Management
Member
16 Elect Daniel Bracquart as Supervisory For For Management
Board Member
17 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 10 Million
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 6
BUSINESS OBJECTS S.A.
Ticker: BOBJ Security ID: F12338103
Meeting Date: DEC 11, 2003 Meeting Type: Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Acquisition of Crystal Decsions For For Management
Inc. and Approve Terms of Merger
Agreement
2 Approve Issuance of Up to 37 Million For For Management
Shares in Connection with Acquisition,
and Amend Articles Accordingly
3 Approve Issuance of Warrants to Subscribe For For Management
to Up to 15,000 Shares to David J. Roux
4 Authorize Issuance of Up to 250,000 For For Management
Shares Reserved for Business Objects SA
Employee Benefits Trust for Use in 1995
International Employee Stock Purchase
Plan
5 Approve Issuance of Up to 50,000 Shares For For Management
Reserved for Employees Participating in
Savings-Related Share Purchase Plan
6 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 1.3 Million
7 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 1.3 Million
8 Amend 2001 Executive Stock Option Plan For Against Management
Re: Number of Available Shares
9 Elect David J. Roux as Director For For Management
10 Approve Increase in Director Remuneration For For Management
to Aggregate Amount of EUR 350,000
11 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 7
BUSINESS OBJECTS S.A.
Ticker: BOBJ Security ID: F12338103
Meeting Date: JUN 3, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and Omission For For Management
of Dividends
4 Reelect Arnold Silverman as Director For For Management
5 Reelect Albert Eisentat as Director For For Management
6 Reelect Bernard Charles as Director For For Management
7 Elect Kurt Lauk as Director For For Management
8 Approve Transactions with a Related Party For For Management
Not Previously Approved by the Board
9 Approve Transaction with a Related Party For Against Management
10 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
11 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
12 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 45,000 Shares to Arnold
Silverman
13 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 45,000 Shares to Albert
Eisenstat
14 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 45,000 Shares to Bernard
Charles
15 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 45,000 Shares to Kurt Lauk
16 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 30,000 Shares to Gerald Held
17 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 30,000 Shares to Jean-Francois
Heitz
18 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 30,000 Shares to David
Peterschmidt
19 Approve Issuance of Warrants Exercisable For Against Management
Into Up to 30,000 Shares to David Roux
20 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
21 Confirm Terms of 1995 International For For Management
Employee Stock Purchase Plan
22 Authorize Issuance of Up to 325,000 For For Management
Shares to Business Objects S.A. Employee
Benefits Trust for Use in 1995
International Employee Stock Purchase
Plan
23 Authorize Issuance of Up to 475,000 For For Management
Shares to Business Objects S.A. Employee
Benefits Trust for Use in 2004
International Employee Stock Purchase
Plan
24 Authorize Issuance of Up to 2.5 Million For Against Management
Shares to Business Objects S.A Employee
Benefit Sub-Plan Trust Under 2001 Stock
Option Plan
Page 8
25 Authorize Board to Rename 2001 Stock For Against Management
Option Plan as 2001 Stock Incentive Plan
and to Create Subsidiary Stock Incentive
Sub-Plan Under 2001 Stock Incentive Plan
26 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights Up to Aggregate Nominal Amount of
EUR 1.3 Million
27 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights Up to Aggregate Nominal
Amount of EUR 1.3 Million
28 Authorize Capitalization of Reserves of For For Management
Up to EUR 1.3 Million for Bonus Issue or
Increase in Par Value
29 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities Reserved to
Qualified Investors Up to Aggregate
Nominal Amount of EUR 1.3 Million
30 Authorize Issuance of Shares with and For Against Management
Without Warrants Attached Reserved to
Board Members in the Maximum Aggregate
Nominal Amount of EUR 30,000
31 Amend Articles of Association to Reflect For Against Management
2003 Legal Changes Re: Shareholding
Disclosure Requirements, Auditor
Attendance at Board Meetings, and
Related-Party Transactions
32 Amend Articles of Association Re: For Against Management
Cancellation of Warrants
33 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 9
BUSINESS OBJECTS S.A.
Ticker: BOBJ Security ID: F12338103
Meeting Date: MAY 27, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and Omission For For Management
of Dividends
4 Reelect Arnold Silverman as Director For For Management
5 Reelect Albert Eisenstat as Director For For Management
6 Reelect Bernard Charles as Director For For Management
7 Elect Kurt Lauk as Director For Against Management
8 Ratify Transaction with a Related Party, For For Management
Not Previously Approved by the Board
9 Approve Transaction with a Related Party For For Management
10 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
11 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
12 Approve Issuance of Warrants Exercisable For For Management
Into Up to 45,000 Shares to Arnold
Silverman
13 Approve Issuance Warrants Exercisable For For Management
Into Up to 45,000 Shares to Albert
Eisenstat
14 Approve Issuance of Warrants Exercisable For For Management
Into Up to 45,000 Shares to Bernard
Charles
15 Approve Issuance Warrants Exercisable For For Management
Into Up to 45,000 Shares to Kurt Lauk
16 Approve Issuance Warrants Exercisable For For Management
Into Up to 30,000 Shares to Gerald Held
17 Approve Issuance of Warrants Exercisable For For Management
Into Up to 30,000 Shares to Jean-Francois
Heitz
18 Approve Issuance of Warrants Exercisable For For Management
Into Up to 30,000 Shares to David
Peterschmidt
19 Approve Issuance of Warrants Exercisable For For Management
Into Up to 30,000 Shares to David Roux
20 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
21 Confirm Terms of 1995 International For For Management
Employee Stock Purchase Plan
22 Authorize Issuance of Up to 325,000 For For Management
Shares to Business Objects SA Employee
Benefits Trust for Use in 1995
International Employee Stock Purchase
Plan
23 Authorize Issuance of Up to 475,000 For For Management
Shares to Business Objects SA Employee
Benefits Trust for Use in 2004
International Employee Stock Purchase
Plan
24 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 1.3 Million
25 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 1.3 Million
26 Authorize Capitalization of Reserves of For For Management
Up to EUR 1.3 Million for Bonus Issue or
Increase in Par Value
27 Authorize Issuance of Shares Without For Against Management
Preemptive Rights in the Aggregate
Nominal Amount of EUR 1.3 Million
28 Amend Articles of Association to Reflect For Against Management
2003 Legal Changes to French Commercial
Code Re: Shareholding Disclosure
Requirement, Auditor Attendance at Board
Meetings, and Related-Party Transactions
29 Amend Articles of Association Re: For Against Management
Cancellation of Warrants
30 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 10
CEGEDIM SA
Ticker: Security ID: F1453Y109
Meeting Date: APR 28, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Discharge Directors
2 Approve Allocation of Income and For For Management
Dividends of EUR 0.81 per Share
3 Accept Consolidated Financial Statements For For Management
and Statutory Reports
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 32,500
6 Reelect Jean-Claude Labrune, Alliance For Against Management
Sante Distribution (Represented by
Jean-Louis Mery), Le GIE Gers
(Represented by Norbert Andreo), and
Societe Sofimat.Or (Represented by Pierre
Marucchi) as Directors
7 Ratify Fidus Audit Represented by For For Management
Jean-Luc Leviel as Alternate Auditors
8 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
9 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
10 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 11
CNP ASSURANCES
Ticker: Security ID: F1876N318
Meeting Date: JUN 8, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 2.295 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Ratify Cooptation of Etienne Bertier as For For Management
Supervisory Board Member
6 Ratify Cooptation of Anthony Orsatelli as For For Management
Supervisory Board Member
7 Ratify Cooptation of Nicolas Merindol as For For Management
Supervisory Board Member
8 Ratify Cooptation of Jerome Gallot as For For Management
Supervisory Board Member
9 Ratify Cooptation of Dominique Marcel as For For Management
Supervisory Board Member
10 Elect Philippe Baumlin as Supervisory For For Management
Board Member
11 Approve Resignation of Jean Lecointre as For For Management
Censor
12 Ratify Mazars et Guerard and KPMG S.A. as For For Management
Auditors and Franck Boyer and SCP Jean
Claude Andre as Alternate Auditors
13 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
14 Amend Article 30 to Reflect 2003 Legal For Against Management
Changes Re: Related-Party Transactions
15 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 12
CREDIT AGRICOLE SA
Ticker: Security ID: F22797108
Meeting Date: MAY 19, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Discharge Directors
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 0.825 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Elect Alain Dieval as Director in For Against Management
Replacement of Pierre Bastide
6 Elect Daniel Lebegue as Director in For Against Management
Replacement of Jean Peyrelevade
7 Elect Michel Michaut as Director in For Against Management
Replacement of Jean-Marie Sander
8 Reelect Pierre Bru as Director For Against Management
9 Reelect Yves Couturier as Director For Against Management
10 Reelect Pierre Kerfriden as Director For Against Management
11 Reelect Jean Le Brun as Director For Against Management
12 Confirm End of Term of Cabinet Alain For For Management
Laine as Auditors and Cabinet Mazars &
Guerard as Deputy Auditor and Appoint New
Auditors
13 Authorize Issuance of Bonds/Debentures Up For For Management
to Aggregate Amount of EUR 20 Billion
14 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 670,000
15 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
16 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 1 Billion
17 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 1 Bilion
18 Authorize Capitalization of Reserves of For For Management
Up to EUR 3 Billion for Bonus Issue or
Increase in Par Value
19 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
20 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
21 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 13
DASSAULT SYSTEMES SA
Ticker: DASXY Security ID: F2457H100
Meeting Date: JUN 2, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
2 Approve Financial Statements and For For Management
Discharge Directors
3 Accept Consolidated Financial Statements For For Management
and Statutory Reports
4 Approve Allocation of Income and For For Management
Dividends of EUR 0.51 per Share
5 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
6 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 140,000
7 Ratify Ernst & Young Audit For For Management
8 Ratify Francois Carrega as Alternate For For Management
Auditor
9 Authorize Issuance of Bonds/Debentures in For For Management
the Aggregate Value of EUR 1 Billion
10 Amend Articles of Association to Reflect For Against Management
2003 Legal Changes Re: Access to
Information, Related-Party Transactions,
and Auditors
11 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
12 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 25 Million
13 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 25 Million
14 Authorize Capitalization of Reserves of For For Management
Up to EUR 25 Million for Bonus Issue or
Increase in Par Value
15 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer
16 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
17 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 15 Million
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 14
ESSILOR INTERNATIONAL
Ticker: Security ID: F31668100
Meeting Date: MAY 14, 2004 Meeting Type: Annual
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements, Statutory For Did Not Management
Reports, Consolidated Financial Vote
Statements, and Discharge Directors
2 Approve Allocation of Income and For Did Not Management
Dividends of EUR 0.84 per Share Vote
3 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
4 Reelect Xavier Fontanet as Director For Did Not Management
Vote
5 Elect Louis Lesperance as Director For Did Not Management
Vote
6 Elect Jean-Pierre Martin as Director For Did Not Management
Vote
7 Elect Yves Chevillotte as Director For Did Not Management
Vote
8 Approve Remuneration of Directors in the For Did Not Management
Aggregate Amount of EUR 165,000 Vote
9 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
10 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 15
ESSILOR INTERNATIONAL
Ticker: Security ID: F31668100
Meeting Date: MAY 5, 2004 Meeting Type: Annual
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements, Statutory For For Management
Reports, Consolidated Financial
Statements, and Discharge Directors
2 Approve Allocation of Income and For For Management
Dividends of EUR 0.84 per Share
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Reelect Xavier Fontanet as Director For For Management
5 Elect Louis Lesperance as Director For For Management
6 Elect Jean-Pierre Martin as Director For For Management
7 Elect Yves Chevillotte as Director For For Management
8 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 165,000
9 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
10 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 16
EULER HERMES (FORMERLY EULER & HERMES S.A.)
Ticker: Security ID: F2013Q107
Meeting Date: APR 28, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Non-Tax Deductible Expenses For For Management
4 Approve Discharge of Management Board, For For Management
Supervisory Board and Auditors
5 Approve Allocation of Income and For For Management
Dividends of EUR 2.73 per Share
6 Approve Stock Dividend Program For For Management
7 Confirm Absence of Changes in the For For Management
Treasury Shares Account
8 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
9 Reelect Laurent Mignon as Supervisory For Against Management
Board Member
10 Reelect Reiner Hagemann as Supervisory For Against Management
Board Member
11 Reelect Charles de Croisset as For For Management
Supervisory Board Member
12 Reelect Robert Hudry as Supervisory Board For For Management
Member
13 Reelect Francois Thomazeau as Supervisory For Against Management
Board Member
14 Authorize Issuance of Bonds/Debentures For For Management
15 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
16 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
17 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 750 Million
18 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer
19 Authorize Capitalization of Reserves of For For Management
Up to EUR 750 Million for Bonus Issue or
Increase in Par Value
20 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
21 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 17
FIMALAC SA
Ticker: Security ID: F3534D120
Meeting Date: JUN 8, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 1.425 per Share
5 Approve Stock Dividend Program For For Management
6 Ratify Appointment of Arnaud Lagardere as For For Management
Director
7 Ratify Appointment of Philippe Lagayette For For Management
as Director
8 Reelect Fimalac Participations as For For Management
Director
9 Reelect Marc Ladreit de Lacharriere as For For Management
Director
10 Reelect Philippe Lagayette as Director For For Management
11 Reelect Veronique Morali as Director For For Management
12 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 252,000
13 Authorize Repurchase of Up to 3,722,146 For For Management
Shares
14 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights and Capitalization of Reserves of
Up to EUR 300 Million for Bonus Issue or
Increase in Par Value
15 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 150 Million
16 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
17 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
18 Amend Articles to Reflect 2003 Legal For For Management
Changes Re: Powers of the Chairman
19 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 18
FRANCE TELECOM SA
Ticker: Security ID: F4113C103
Meeting Date: APR 9, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Discharge Directors for Fiscal Year Ended
Dec. 2003
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports for Fiscal Year
Ended Dec. 2003
3 Approve Treatment of Losses and Dividends For For Management
of EUR 0.25 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
6 Fix Issue Price of Previous Authority to For For Management
Issue Equity or Equity-Linked Securities
without Preemptive Rights Submitted to
Shareholder Vote at Feb. 25, 2003 EGM to
Increase Capital by up to EUR 30 Billion
7 Amend Article 1, 2, and 7 to Reflect 2003 For For Management
Legislative Changes, Postal Service and
Telecommunication Code, and European
Parliament Directives
8 Amend Articles to Reflect 2003 For For Management
Legislative Changes; Remove French
Government Obligation to Retain Majority
Stake in Company and Amend Articles with
Respect to Board Composition
9 Amend Articles to Reflect Potential For For Management
Change in Control with Respect to Powers
of Chairman and Management
10 Amend Articles of Association to For For Management
Introduce Liquidation Provision
11 Authorize Board to Issue Up to 30 Million For For Management
Shares to Participants of Wanadoo Stock
Option Plan in Connection with France
Telecom Liquidity Agreement
12 Approve Capital Increase Reserved for For Against Management
Employees Participating in
Savings-Related Share Purchase Plan
13 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 19
FRANCE TELECOM SA
Ticker: Security ID: F4113C103
Meeting Date: OCT 6, 2003 Meeting Type: Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Amend Terms of Share Repurchase Plan For For Management
Submitted to Shareholder Vote at May 27,
2003, AGM/EGM
2 Authorize Board to Issue Up to 100 For For Management
Million Shares to Participants of
Orange's Stock Option Plan, Share
Purchase Plan, Orange Senior
Discretionary Share Plan and Restricted
Share Plan, As Well As Signatories of
France Telecom Liquidity Agreement
3 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
4 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 20
FRANCE TELECOM SA
Ticker: Security ID: F4113C103
Meeting Date: OCT 6, 2003 Meeting Type: Bondholder
# Proposal Mgt Rec Vote Cast Sponsor
1 Receive Directors' Report None Did Not Management
Vote
2 Approve Issue Authorities Submitted to For Did Not Management
Shareholder Vote at Oct. 6, 2003 EGM Vote
Regarding Acquisition of Stake in Orange
and Capital Increase Reserved for
Employees Participating in
Savings-Related Share Purchase Plan
3 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 21
GROUPE DANONE
Ticker: DA Security ID: F12033134
Meeting Date: APR 15, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
2 Approve Financial Statements, Statutory For For Management
Reports, and Consolidated Financial
Statements
3 Approve Allocation of Income and For For Management
Dividends of EUR 3.675 per Share
4 Ratify Changed Location of Registered For For Management
Office/Headquarters
5 Reelect Franck Riboud as Director For For Management
6 Reelect Emmanuel Faber as Director For For Management
7 Maintain Jerome Seydoux as Director For For Management
8 Ratify Mazars & Guerard as Auditors For For Management
9 Ratify PricewaterhouseCoopers Audit as For For Management
Auditors
10 Ratify Patrick de Cambourg as Alternate For For Management
Auditor
11 Ratify Anne Monteil as Alternate Auditor For For Management
12 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
13 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 45 Million
14 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 45 Million
15 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
16 Adopt New Articles Pursuant to Amendments For Against Management
to Reflect Financial Security
legislation, and Amended Corporate
Purpose
17 Approve 2-for-1 Stock Split For For Management
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 22
GROUPE DANONE
Ticker: DA Security ID: F12033134
Meeting Date: APR 6, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
2 Approve Financial Statements, Statutory For For Management
Reports, and Consolidated Financial
Statements
3 Approve Allocation of Income and For For Management
Dividends of EUR 3.675 per Share
4 Ratify Changed Location of Registered For For Management
Office/Headquarters
5 Reelect Franck Riboud as Director For For Management
6 Reelect Emmanuel Faber as Director For For Management
7 Maintain Jerome Seydoux as Director For For Management
8 Ratify Mazars & Guerard as Auditors For For Management
9 Ratify PricewaterhouseCoopers Audit as For For Management
Auditors
10 Ratify Patrick de Cambourg as Alternate For For Management
Auditor
11 Ratify Anne Monteil as Alternate Auditor For For Management
12 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
13 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 45 Million
14 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 45 Million
15 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
16 Adopt New Articles Pursuant to Amendments For Against Management
to Reflect Financial Security
legislation, and Amended Corporate
Purpose
17 Approve 2-for-1 Stock Split For For Management
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 23
HERMES INTERNATIONAL
Ticker: Security ID: F48051100
Meeting Date: JUN 8, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Discharge of Directors For For Management
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 1.70 per Share
4 Accept Consolidated Financial Statements For For Management
and Statutory Reports
5 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
6 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
7 Authorize Filing of Required For For Management
Documents/Other Formalities
8 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
9 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 24
IMERYS (FORMERLY IMETAL)
Ticker: Security ID: F49644101
Meeting Date: MAY 3, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 7.50 per Share
5 Reelect Paul Desmarais, Jr. as For For Management
Supervisory Board Member
6 Reelect Jocelyn Lefebvre as Supervisory For Against Management
Board Member
7 Reelect Eric Le Moyne de Serigny as For For Management
Supervisory Board Member
8 Reelect Yves-Rene Nanot as Supervisory For For Management
Board Member
9 Reelect Edouard de Rothschild as For For Management
Supervisory Board Member
10 Appoint Ernst & Young Audit and Deloitte For For Management
Touche Tohmatsu as Auditors and Jean-Marc
Montserrat and BEAS as Alternate Auditors
11 Approve Terms of Amended and Restated For For Management
2000 Employee Stock Purchase Plan
Reserved for Employees of American
Subsidiaries
12 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
13 Approve Four-for-One Stock Split For For Management
14 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 60 Million
15 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 60 Million
16 Authorize Capitalization of Reserves of For For Management
Up to EUR 60 Million for Bonus Issue or
Increase in Par Value
17 Set Global Limit for Capital Increase to For For Management
Result from All Issuance Requests at EUR
90 Million
18 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
19 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
20 Amend Article 24 in Accordance with 2003 For Against Management
Legal Changes Re: Related-Party
Transactions
21 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 25
LAGARDERE S.C.A.
Ticker: Security ID: F5485U100
Meeting Date: MAY 11, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For Did Not Management
Discharge Directors Vote
2 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
3 Approve Allocation of Income and For Did Not Management
Dividends of EUR 1.35 per Share Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
6 Reelect Raymond H. Levy as Supervisory For Did Not Management
Board Member Vote
7 Reelect Pehr G. Gyllenhammar as For Did Not Management
Supervisory Board Member Vote
8 Reelect Pierre Lescure as Supervisory For Did Not Management
Board Member Vote
9 Reelect Didier Pineau-Valencienne as For Did Not Management
Supervisory Board Member Vote
10 Reelect Felix G. Rohatyn as Supervisory For Did Not Management
Board Member Vote
11 Reelect Groupama S.A. as Supervisory For Did Not Management
Board Member Vote
12 Reelect Manfred Bischoff as Supervisory For Did Not Management
Board Member Vote
13 Reelect George Chaudron de Courcel as For Did Not Management
Supervisory Board Member Vote
14 Reelect Christian Marbach as Supervisory For Did Not Management
Board Member Vote
15 Reelect Bernard Mirat as Supervisory For Did Not Management
Board Member Vote
16 Elect Bernard Arnaud as Supervisory Board For Did Not Management
Member Vote
17 Elect Dr. Hubert Burda as Supervisory For Did Not Management
Board Member Vote
18 Elect Rene Carron as Supervisory Board For Did Not Management
Member Vote
19 Elect Henri Proglio as Supervisory Board For Did Not Management
Member Vote
20 Elect Francois Roussely as Supervisory For Did Not Management
Board Member Vote
21 Appoint Bernard Esambert as Censor For Did Not Management
Vote
22 Approve Remuneration of Directors in the For Did Not Management
Aggregate Amount of EUR 600,000 Vote
23 Authorize Issuance of Bonds/Debentures in For Did Not Management
the Aggregate Nominal Value of EUR 3 Vote
Billion
24 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities with Preemptive Vote
Rights up to Aggregate Nominal Amount of
EUR 300 Million
25 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities without Vote
Preemptive Rights up to Aggregate Nominal
Amount of EUR 300 Million
26 Authorize Capital Increase of Up to EUR For Did Not Management
300 Million for Future Exchange Offers Vote
27 Authorize Capitalization of Reserves of For Did Not Management
Up to EUR 300 Million for Bonus Issue or Vote
Increase in Par Value
28 Set Global Limit for Capital Increase to For Did Not Management
Result from Issuance Requests Pursuant to Vote
Items 24, 25 and 26 at EUR 300 Million
29 Allow Board to Issue Shares in the Event For Did Not Management
of a Public Tender Offer or Share Vote
Exchange Offer
30 Approve Capital Increase Reserved for For Did Not Management
Employees Participating in Vote
Savings-Related Share Purchase Plan
31 Approve Stock Option Plan Grants For Did Not Management
Vote
32 Amend Articles of Association to Reflect For Did Not Management
2003 Legal Changes to French Commercial Vote
Code Re: Related-Party Transactions
33 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 26
LE CARBONE LORRAINE
Ticker: Security ID: F13755115
Meeting Date: MAY 13, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
2 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
3 Approve Treatment of Losses For Did Not Management
Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
6 Appoint Deloitte Touche Tohmatsu as For Did Not Management
Auditors and Beas as Alternate Auditor Vote
7 Appoint KPMG Audit as Auditors and S.C.P. For Did Not Management
Jean-Claude Andre et Autres as Alternate Vote
Auditor
8 Ratify Cooptation of Lise Nobre as For Did Not Management
Director Vote
9 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
10 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities with Preemptive Vote
Rights up to Aggregate Nominal Amount of
EUR 10 Million; Authorize Board to Issue
Shares in the Event of a Public Tender
Offer or Share Exchange Offer
11 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities without Vote
Preemptive Rights up to Aggregate Nominal
Amount of EUR 10 Million; Authorize Board
to Issue Shares in the Event of a Public
Tender Offer or Share Exchange Offer
12 Set Global Limit for Capital Increase to For Did Not Management
Result from Issuance Requests in Items 10 Vote
and 11 at EUR 10 Million
13 Approve Capital Increase Reserved for For Did Not Management
Employees Participating in Vote
Savings-Related Share Purchase Plan
14 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 27
MICHELIN ET CIE.
Ticker: Security ID: F61824144
Meeting Date: MAY 14, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Allocation of Income and For For Management
Dividends of EUR 1.395 per Share
3 Accept Consolidated Financial Statements For For Management
and Statutory Reports
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Eric Bourdais de Charbonniere as For For Management
Supervisory Board Member
6 Reelect Francois Grappotte as Supervisory For For Management
Board Member
7 Ratify PricewaterhouseCoopers Audit as For For Management
Auditors
8 Ratify Pierre Coll as Alternate Auditor For For Management
9 Ratify Corevise as Auditors For For Management
10 Ratify Jacques Zaks as Alternate Auditor For For Management
11 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
12 Approve Stock Option Plan Grants For For Management
13 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
Page 28
PERNOD RICARD
Ticker: Security ID: F72027109
Meeting Date: MAY 17, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Consolidated Financial For For Management
Statements, Statutory Reports and
Discharge Directors
3 Approve Allocation of Income and For For Management
Dividends of EUR 1.96 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Patrick Ricard as Director For For Management
6 Elect Richard Burrows as Director For For Management
7 Elect Pierre Pringuet as Director For For Management
8 Ratify Mazars & Guerard as Auditors For For Management
9 Ratify Patrick de Cambourg as Alternate For For Management
Auditor
10 Approve Expiration of Term of Salustro For For Management
Reydel as Alternate Auditor
11 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 864,450
12 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
13 Authorize Issuance of Bonds/Debentures in For Against Management
the Aggregate Nominal Value of Up to EUR
3 Billion
14 Change Fiscal Year End to June 30 and For For Management
Amend Articles Accordingly
15 Amend Articles of Association Re: Board For For Management
Size and Terms of Directors
16 Amend Articles of Association to Reflect For For Management
2003 Legal Changes Re: Role of Chairman,
Access to Information, Related-Party
Transactions, and Auditor Attendance at
Board Meetings
17 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
18 Approve Stock Option Plan Grants For Against Management
19 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 200 Million
20 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 200 Million
21 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer, Subject to Certain
Conditions
22 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 29
RALLYE
Ticker: Security ID: F43743107
Meeting Date: JUN 9, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Allocation of Income and For For Management
Dividends of EUR 2.40 per Share
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Accept Consolidated Financial Statements For For Management
and Statutory Reports
5 Appoint Christian Paillot as Censor For For Management
Pursuant to Oct. 15, 2003, Board Meeting
6 Appoint Jean Chodron de Courcel as For For Management
Censor, Pursuant to March 17, 2004, Board
Meeting
7 Ratify Appointment of Christian Paillot For For Management
as Director
8 Ratify Appointment of Jean Chodron de For For Management
Courcel as Director
9 Reelect Andre Crestey as Director For Against Management
10 Reelect Jacques Dermagne as Director For For Management
11 Reelect Jacques Dumas as Director For Against Management
12 Reelect Pierre Feraud as Director For For Management
13 Reelect Jean Levy as Director For For Management
14 Reelect Jean-Charles Naouri as Director For For Management
15 Reelect Christian Paillot as Director For For Management
16 Reelect Gilbert Torelli as Director For For Management
17 Reelect Finatis as Director For For Management
18 Reelect Fonciere Euris as Director For For Management
19 Reappoint Julien Charlier as Censor For For Management
20 Ratify Philippe Peuch-Lestrade as For For Management
Alternate Auditor
21 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
22 Authorize Issuance of Bonds/Debentures in For Against Management
tha Aggregate Value of EUR 1 Billion
23 Authorize Filing of Required For For Management
Documents/Other Formalities
24 Approve Issuance of Warrants without For Against Management
Preemptive Rights up to Aggregate Nominal
Value of EUR 200 Million
25 Authorize Capital Increase of Up to EUR For Against Management
200 Million for Future Exchange Offers
26 Authorize Board to Determine Terms and For Against Management
Ratify Share Issuances; Approve Global
Limit for Capital Increase of EUR 400
Million
27 Approve Stock Option Plan Grants to For Against Management
Subscribe for Newly Issued Shares
28 Approve Stock Option Plan Grants to For Against Management
Purchase Existing Shares
29 Amend Articles of Association Re: For Against Management
Shareholding Disclosure Requirement
30 Amend Articles to Reflect 2003 Legal For For Management
Changes Re: Powers of the Chairman
31 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 30
RENAULT
Ticker: Security ID: F77098105
Meeting Date: APR 16, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For For Management
and Statutory Reports
2 Approve Financial Statements and For For Management
Discharge Directors
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 1.40 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Francois de Combret as Director For For Management
6 Reelect Bernard Larrouturou as Director For For Management
7 Elect Jean-Louis Girodolle as Director For For Management
8 Elect Itaru Koeda as Director For For Management
9 Elect Francois Pinault as Director For For Management
10 Approve Discharge of Yoshikazu Hanawa For For Management
11 Approve Discharge of Bruno Bezard For For Management
12 Approve Discharge of Jeanne Seyvet For For Management
13 Confirm Receipt of Special Auditors' For For Management
Report Regarding Remuneration of
Participating Stock
14 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
15 Authorize Issuance of Bonds/Debentures in For For Management
the Aggregate Amount of EUR 4 Billion
16 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
17 Maintain Authority to Issue Equity and For For Management
Equity-Linked Securities without
Preemptive Rights Submitted to
Shareholder Vote on April 29, 2003, to
Increase Capital by Up to EUR 300 Million
18 Amend Articles of Association to Increase For For Management
the Number of Directors to Be Elected by
Shareholders
19 Amend Articles of Association to Reflect For Against Management
Financial Security Legislation Re:
Shareholding Disclosure Requirement
20 Elect Charles de Croisset as Director For For Management
21 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 31
RENAULT
Ticker: Security ID: F77098105
Meeting Date: APR 30, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For For Management
and Statutory Reports
2 Approve Financial Statements and For For Management
Discharge Directors
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 1.40 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Francois de Combret as Director For For Management
6 Reelect Bernard Larrouturou as Director For For Management
7 Elect Jean-Louis Girodolle as Director For For Management
8 Elect Itaru Koeda as Director For For Management
9 Elect Francois Pinault as Director For For Management
10 Approve Discharge of Yoshikazu Hanawa For For Management
11 Approve Discharge of Bruno Bezard For For Management
12 Approve Discharge of Jeanne Seyvet For For Management
13 Confirm Receipt of Special Auditors' For For Management
Report Regarding Remuneration of
Participating Stock
14 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
15 Authorize Issuance of Bonds/Debentures in For For Management
the Aggregate Amount of EUR 4 Billion
16 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
17 Maintain Authority to Issue Equity and For For Management
Equity-Linked Securities without
Preemptive Rights Submitted to
Shareholder Vote on April 29, 2003, to
Increase Capital by Up to EUR 300 Million
18 Amend Articles of Association to Increase For For Management
the Number of Directors to Be Elected by
Shareholders
19 Amend Articles of Association to Reflect For Against Management
Financial Security Legislation Re:
Shareholding Disclosure Requirement
20 Elect Charles de Croisset as Director For For Management
21 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 32
SCHNEIDER ELECTRIC SA (FORMERLY SCHNEIDER SA)
Ticker: Security ID: F86921107
Meeting Date: APR 27, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 1.65 per Share
5 Elect Caisse des Depots et Consignations, For For Management
Represented by Jerome Gallot, as Director
6 Elect Chris C. Richardson as Director For For Management
7 Reelect Alain Burq as Representative of For For Management
Employee Shareholders to the Board
8 Reelect Daniel Bouton as Director For For Management
9 Reelect Thierry Breton as Director For For Management
10 Reelect Willy Kissling as Director For For Management
11 Reelect Piero Sierra as Director For For Management
12 Reappoint Barbier Frinault et Autres For For Management
(Ernst & Young) as Auditors
13 Ratify Philippe Diu as Alternate Auditor For For Management
to Barbier Frinault et Autres (Ernst &
Young)
14 Appoint Mazars & Guerard as Auditor For For Management
15 Ratify Charles Vincensini as Alternate For For Management
Auditor to Mazars & Guerard
16 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
17 Amend Articles of Association to For For Management
Authorize the Appointment of Censors
18 Approve Capital Increase Reserved for For Against Management
Employees Participating in
Savings-Related Share Purchase Plan
19 Approve Stock Option Plan Grants For Against Management
20 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
21 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer
22 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 33
SCHNEIDER ELECTRIC SA (FORMERLY SCHNEIDER SA)
Ticker: Security ID: F86921107
Meeting Date: MAY 6, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
2 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
3 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
4 Approve Allocation of Income and For Did Not Management
Dividends of EUR 1.65 per Share Vote
5 Elect Caisse des Depots et Consignations, For Did Not Management
Represented by Jerome Gallot, as Director Vote
6 Elect Chris C. Richardson as Director For Did Not Management
Vote
7 Reelect Alain Burq as Representative of For Did Not Management
Employee Shareholders to the Board Vote
8 Reelect Daniel Bouton as Director For Did Not Management
Vote
9 Reelect Thierry Breton as Director For Did Not Management
Vote
10 Reelect Willy Kissling as Director For Did Not Management
Vote
11 Reelect Piero Sierra as Director For Did Not Management
Vote
12 Reappoint Barbier Frinault et Autres For Did Not Management
(Ernst & Young) as Auditors Vote
13 Ratify Philippe Diu as Alternate Auditor For Did Not Management
to Barbier Frinault et Autres (Ernst & Vote
Young)
14 Appoint Mazars & Guerard as Auditor For Did Not Management
Vote
15 Ratify Charles Vincensini as Alternate For Did Not Management
Auditor to Mazars & Guerard Vote
16 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
17 Amend Articles of Association to For Did Not Management
Authorize the Appointment of Censors Vote
18 Approve Capital Increase Reserved for For Did Not Management
Employees Participating in Vote
Savings-Related Share Purchase Plan
19 Approve Stock Option Plan Grants For Did Not Management
Vote
20 Approve Reduction in Share Capital via For Did Not Management
Cancellation of Repurchased Shares Vote
21 Allow Board to Issue Shares in the Event For Did Not Management
of a Public Tender Offer or Share Vote
Exchange Offer
22 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 34
SOCIETE DES PARTICIPATIONS DU COMMISSARIAT A L
Ticker: Security ID: F84742109
Meeting Date: MAY 4, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Consolidated Statements and Discharge
Management Board and Supervisory Board
2 Approve Transaction with Related Parties For For Management
Re: Warranty Provision Included in
Amendment Letter Signed bu Cogema, Cogema
Ressources Inc., and Societe des
Participations du Commissariat a
l'Energie Atomique
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 9.30 per Share
5 Increase Aggregate Remuneration of For For Management
Directors from EUR 145,000 to EUR 174,000
for Fiscal Year 2003
6 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 227,500 for
Fiscal Year 2004
7 Elect Olivier Pagezy as Supervisory Board For Against Management
Member
8 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
9 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 35
STMICROELECTRONICS N.V.
Ticker: STM Security ID: N83574108
Meeting Date: APR 23, 2004 Meeting Type: Annual
# Proposal Mgt Rec Vote Cast Sponsor
1 Open Meeting None None Management
2 Receive Report of Management Board None None Management
3 Receive Report of Supervisory Board None None Management
4 Approve Financial Statements and For For Management
Statutory Reports
5 Approve Discharge of Management Board For For Management
6 Approve Discharge of Supervisory Board For For Management
7 Approve Dividend of $0.12 Per Ordinary For For Management
Share
8 Elect Gerald Arbola as New Member of For For Management
Supervisory Board
9 Elect Didier Lombard as New Member of For For Management
Supervisory Board
10 Approve Remuneration of Supervisory Board For For Management
11 Approve Employee Stock Purchase Plan For For Management
12 Grant Supervisory Board Authority for For Against Management
Five Years to Issue All Authorized but
Unissued Shares Restricting/Excluding
Preemptive Rights
13 Lower Quorum Requirement for General For Against Management
Meeting from One-Third to 15 Percent of
Issued Share Capital
14 Amend Articles to Reflect Lowering of For Against Management
Quorum Requirement (Item 13)
15 Approve Company's Corporate Governance For For Management
Policy
16 Allow Questions None None Management
17 Close Meeting None None Management
Page 36
TECHNIP (FORMERLY TECHNIP-COFLEXIP)
Ticker: TNHPY Security ID: F90676101
Meeting Date: APR 21, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Approve Allocation of Income and For For Management
Dividends of EUR 4.95 per Share
3 Accept Consolidated Financial Statements For For Management
and Statutory Reports
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Approve Discharge of Management and For For Management
Supervisory Board
6 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 250,000
7 Ratify Cabinet Barbier, Frinault et For For Management
Autres as Auditors
8 Ratify PricewaterhouseCoopers Audit as For For Management
Auditors
9 Ratify Christian Chochon as Alternate For For Management
Auditors
10 Ratify Yves Nicolas as Alternate Auditors For For Management
11 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
12 Amend Articles of Association to Reflect For For Management
2003 Legal Changes to French Commercial
Code
13 Approve Capital Increase Reserved for For For Management
Employees of American Subsidiaries
Participating in Share Purchase Plan
Pursuant to Authorization Granted in Item
6 at the July 11, 2003, Shareholder
Meeting
14 Authorize Capital Increase of Up to EUR For Against Management
37.5 Million for Future Exchange Offers
15 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer
16 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 37
TECHNIP (FORMERLY TECHNIP-COFLEXIP)
Ticker: TNHPY Security ID: F90676101
Meeting Date: APR 29, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
2 Approve Allocation of Income and For Did Not Management
Dividends of EUR 4.95 per Share Vote
3 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Approve Discharge of Management and For Did Not Management
Supervisory Board Vote
6 Approve Remuneration of Directors in the For Did Not Management
Aggregate Amount of EUR 250,000 Vote
7 Ratify Cabinet Barbier, Frinault et For Did Not Management
Autres as Auditors Vote
8 Ratify PricewaterhouseCoopers Audit as For Did Not Management
Auditors Vote
9 Ratify Christian Chochon as Alternate For Did Not Management
Auditors Vote
10 Ratify Yves Nicolas as Alternate Auditors For Did Not Management
Vote
11 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
12 Amend Articles of Association to Reflect For Did Not Management
2003 Legal Changes to French Commercial Vote
Code
13 Approve Capital Increase Reserved for For Did Not Management
Employees of American Subsidiaries Vote
Participating in Share Purchase Plan
Pursuant to Authorization Granted in Item
6 at the July 11, 2003, Shareholder
Meeting
14 Authorize Capital Increase of Up to EUR For Did Not Management
37.5 Million for Future Exchange Offers Vote
15 Allow Board to Issue Shares in the Event For Did Not Management
of a Public Tender Offer or Share Vote
Exchange Offer
16 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 38
THALES SA (FORMERLY THOMSON-CSF)
Ticker: Security ID: F9156M108
Meeting Date: MAY 11, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For For Management
and Statutory Reports
2 Approve Financial Statements and For For Management
Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 1.125 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Change Location of Registered For For Management
Office/Headquarters to 45, rue de
Villiers in Neuilly-sur-Seine
6 Ratify Cooptation of Benoit Tellier as For For Management
Director
7 Elect Francois Bujon de l'Estang as For For Management
Director
8 Reelect Louis Gallois as Director For For Management
9 Reelect Denis Ranque as Director For For Management
10 Reelect Denis Samuel-Lajeunesse as For For Management
Director
11 Reelect TSA as Director For For Management
12 Reelect Jean-Paul Barth as Director For For Management
13 Reelect Serge Dassault as Director For For Management
14 Reelect Serge Tchuruk as Director For For Management
15 Elect Charles de Croisset as Director For For Management
16 Reelect Roger Freeman as Director For For Management
17 Elect Klaus Naumann as Director For For Management
18 Reelect Henri Proglio as Director For For Management
19 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
20 Amend Articles to Classify Board For Against Management
21 Amend Articles to Reduce the Number of For For Management
Employee Representatives Serving on the
Board from Three to Two
22 Amend Articles of Association to Reflect For Against Management
2003 Legal Changes to French Commercial
Code Re: Shareholding Disclosure
23 Amend Articles of Association Re: Double For For Management
Voting Rights
24 Approve Stock Option Plan Grants For Against Management
25 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 36 Million
26 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 36 Million
27 Set Global Limit for Capital Increase to For For Management
Result from Issuance Requests in Items 25
and 26 at EUR 36 Million
28 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
29 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 39
TOTAL S.A. (FORMERLY TOTAL FINA ELF S.A )
Ticker: TOT Security ID: F92124100
Meeting Date: APR 28, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 4.70 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital and Reissuance of
Repurchased Shares
6 Authorize Issuance of Bonds/Debentures For For Management
7 Reelect Thierry Desmarest as Director For For Management
8 Reelect Thierry de Rudder as Director For For Management
9 Reelect Serge Tchuruk as Director For For Management
10 Elect Daniel Boeuf as Representative of For For Management
Employee Shareholders to the Board
11 Elect Philippe Marchandise as Against Against Management
Representative of Employee Shareholders
to the Board
12 Elect Cyril Mouche as Representative of Against Against Management
Employee Shareholders to the Board
13 Elect Alan Cramer as Representative of Against Against Management
Employee Shareholders to the Board
14 Ratify Ernst & Young Audit as Auditors For For Management
15 Ratify KPMG Audit as Auditors For For Management
16 Ratify Pierre Jouanne as Alternate For For Management
Auditor
17 Ratify Jean-Luc Decornoy as Alternate For For Management
Auditor
18 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 900,000
19 Approve Stock Option Plan Grants For For Management
20 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 4 Billion
21 Authorize Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 2 Billion
22 Approve Capital Increase Reserved for For For Management
Employees Participating in
Savings-Related Share Purchase Plan
Page 40
TOTAL S.A. (FORMERLY TOTAL FINA ELF S.A )
Ticker: TOT Security ID: F92124100
Meeting Date: MAY 14, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
2 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
3 Approve Allocation of Income and Net For Did Not Management
Dividends of EUR 4.70 per Share Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital and Reissuance of Vote
Repurchased Shares
6 Authorize Issuance of Bonds/Debentures For Did Not Management
Vote
7 Reelect Thierry Desmarest as Director For Did Not Management
Vote
8 Reelect Thierry de Rudder as Director For Did Not Management
Vote
9 Reelect Serge Tchuruk as Director For Did Not Management
Vote
10 Elect Daniel Boeuf as Representative of For Did Not Management
Employee Shareholders to the Board Vote
11 Elect Philippe Marchandise as Against Did Not Management
Representative of Employee Shareholders Vote
to the Board
12 Elect Cyril Mouche as Representative of Against Did Not Management
Employee Shareholders to the Board Vote
13 Elect Alan Cramer as Representative of Against Did Not Management
Employee Shareholders to the Board Vote
14 Ratify Ernst & Young Audit as Auditors For Did Not Management
Vote
15 Ratify KPMG Audit as Auditors For Did Not Management
Vote
16 Ratify Pierre Jouanne as Alternate For Did Not Management
Auditor Vote
17 Ratify Jean-Luc Decornoy as Alternate For Did Not Management
Auditor Vote
18 Approve Remuneration of Directors in the For Did Not Management
Aggregate Amount of EUR 900,000 Vote
19 Approve Stock Option Plan Grants For Did Not Management
Vote
20 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities with Preemptive Vote
Rights up to Aggregate Nominal Amount of
EUR 4 Billion
21 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities without Vote
Preemptive Rights up to Aggregate Nominal
Amount of EUR 2 Billion
22 Approve Capital Increase Reserved for For Did Not Management
Employees Participating in Vote
Savings-Related Share Purchase Plan
Page 41
TRIGANO SA
Ticker: Security ID: F93488108
Meeting Date: FEB 26, 2004 Meeting Type: Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Stock Option Plan Grants For Against Management
2 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 42
TRIGANO SA
Ticker: Security ID: F93488108
Meeting Date: JAN 8, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports for Fiscal Year Ended
Aug. 31, 2003
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports for Fiscal Year
Ended Aug. 31, 2003
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and For For Management
Dividends of EUR 0.30 per Share
5 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 54,000
6 Authorize Filing of Required For For Management
Documents/Other Formalities
7 Approve Capital Increase Reserved for For Against Management
Employees Participating in
Savings-Related Share Purchase Plan
Page 43
UNIBAIL HOLDING(FRMLY UNIBAIL)
Ticker: Security ID: F95094110
Meeting Date: APR 8, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 3.50 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Jean-Claude Jolain as Director For For Management
6 Reelect Henri Moulard as Director For For Management
7 Reelect Jean-Jacques Rosa as Director For For Management
8 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 350,000
9 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
10 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
11 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 44
UNIBAIL HOLDING(FRMLY UNIBAIL)
Ticker: Security ID: F95094110
Meeting Date: MAR 31, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and Net For For Management
Dividends of EUR 3.50 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Jean-Claude Jolain as Director For For Management
6 Reelect Henri Moulard as Director For For Management
7 Reelect Jean-Jacques Rosa as Director For For Management
8 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 350,000
9 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
10 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
11 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 45
VINCI (FORMERLY SOCIETE GENERALE D'ENTREPRISES)
Ticker: Security ID: F5879X108
Meeting Date: APR 23, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For For Management
and Statutory Reports
2 Approve Financial Statements and For For Management
Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 3.54 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Approve Discharge of Directors For For Management
6 Ratify Cooptation of Quentin Davies as For For Management
Director
7 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 800,000
8 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
9 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
10 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 600 Million
11 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 600 Million
12 Approve Capital Increase Reserved for For Against Management
Employees of International Subsidiaries
Participating in Share Purchase Plan
13 Approve Capital Increase Reserved for For Against Management
Employees Participating in
Savings-Related Share Purchase Plan
14 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 46
VINCI (FORMERLY SOCIETE GENERALE D'ENTREPRISES)
Ticker: Security ID: F5879X108
Meeting Date: MAY 4, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Consolidated Financial Statements For Did Not Management
and Statutory Reports Vote
2 Approve Financial Statements and For Did Not Management
Statutory Reports Vote
3 Approve Allocation of Income and For Did Not Management
Dividends of EUR 3.54 per Share Vote
4 Approve Special Auditors' Report For Did Not Management
Regarding Related-Party Transactions Vote
5 Approve Discharge of Directors For Did Not Management
Vote
6 Ratify Cooptation of Quentin Davies as For Did Not Management
Director Vote
7 Approve Remuneration of Directors in the For Did Not Management
Aggregate Amount of EUR 800,000 Vote
8 Authorize Repurchase of Up to Ten Percent For Did Not Management
of Issued Share Capital Vote
9 Approve Reduction in Share Capital via For Did Not Management
Cancellation of Repurchased Shares Vote
10 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities with Preemptive Vote
Rights up to Aggregate Nominal Amount of
EUR 600 Million
11 Authorize Issuance of Equity or For Did Not Management
Equity-Linked Securities without Vote
Preemptive Rights up to Aggregate Nominal
Amount of EUR 600 Million
12 Approve Capital Increase Reserved for For Did Not Management
Employees of International Subsidiaries Vote
Participating in Share Purchase Plan
13 Approve Capital Increase Reserved for For Did Not Management
Employees Participating in Vote
Savings-Related Share Purchase Plan
14 Authorize Filing of Required For Did Not Management
Documents/Other Formalities Vote
Page 47
VIVENDI UNIVERSAL SA (FORMERLY VIVENDI)
Ticker: V Security ID: F7063C114
Meeting Date: MAY 6, 2004 Meeting Type: Annual
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
4 Approve Allocation of Income and Omission For For Management
of Dividends
5 Reelect Jean-Rene Fourtou as Director For For Management
6 Reelect Claude Bebear as Director For For Management
7 Reelect Gerard Bremond as Director For For Management
8 Reelect Bertrand Collomb as Director For For Management
9 Reelect Paul Fribourg as Director For For Management
10 Reelect Gerard Kleisterlee as Director For For Management
11 Reelect Henri Lachmann as Director For For Management
12 Elect Karel Van Miert as Director For For Management
13 Elect Pierre Rodocanachi as Director For For Management
14 Ratify Cooptation of Gabriel Hawawini as For For Management
Director
15 Authorize Issuance of Bonds/Debentures in For For Management
the Aggregate Value of Up to EUR 7
Billion
16 Authorize Repurchase of Up to Five For For Management
Percent of Issued Share Capital
17 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 48
WENDEL INVESTISSEMENT (FORMERLY MARINE-WENDEL)
Ticker: Security ID: F98370103
Meeting Date: JUN 1, 2004 Meeting Type: Annual/Special
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Statutory Reports
2 Accept Consolidated Financial Statements For For Management
and Statutory Reports
3 Approve Allocation of Income and For For Management
Dividends of EUR 1.575 per Share
4 Approve Special Auditors' Report For For Management
Regarding Related-Party Transactions
5 Reelect Jean-Marc Janodet as Director For Against Management
6 Approve Remuneration of Directors in the For For Management
Aggregate Amount of EUR 480,000
7 Authorize Repurchase of Up to Ten Percent For For Management
of Issued Share Capital
8 Authorize Issuance of Bonds/Debentures in For For Management
the Aggregate Value of EUR 2 Billion
9 Authorize Issuance of Equity or For For Management
Equity-Linked Securities with Preemptive
Rights up to Aggregate Nominal Amount of
EUR 200 Million
10 Authorize Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights up to Aggregate Nominal
Amount of EUR 200 Million
11 Authorize Capitalization of Reserves of For For Management
Up to EUR 700 Million for Bonus Issue or
Increase in Par Value
12 Allow Board to Issue Shares in the Event For Against Management
of a Public Tender Offer or Share
Exchange Offer
13 Approve Capital Increase Reserved for For For Management+
Employees Participating in
Savings-Related Share Purchase Plan
14 Approve Stock Option Plan Grants For Against Management
15 Set Global Limit for Capital Increase to For Against Management
Result from Issuance Requests at EUR 900
Million
16 Approve Reduction in Share Capital via For For Management
Cancellation of Repurchased Shares
17 Amend Articles to Reflect 2003 Legal For For Management
Changes Re: Powers of the Chairman, Power
of the Board, and Registration
Requirements
18 Authorize Filing of Required For For Management
Documents/Other Formalities
Page 49
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.
By: /s/ Edmund P. Bergan, Jr.
-------------------------------------------
Edmund P. Bergan, Jr.
Vice Chairman (principal executive officer)
Date: August 31, 2004
Page 50