UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act number 811-06373
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Sit Developing Markets Growth Fund, a series of Sit Mutual Funds, Inc.
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(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402
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(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Kelly K. Boston, Staff Attorney
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3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402
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(NAME AND ADDRESS OF AGENT FOR SERVICE)
Registrant's telephone number, including area code: 612-332-3223
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Date of fiscal year end: June 30, 2005
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Date of reporting period: July 1, 2004 - June 30, 2005
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PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Advanced Info TH0268010Z11 3/30/2005 1 Open Meeting
Service PCL
2 Approve Minutes of Previous AGM Mgmt For For
3 Accept Directors' Report Mgmt For For
4 Accept Financial Statements and
Statutory Reports Mgmt For For
5 Approve PricewaterhouseCoopers
ABAS Limited as Auditors and
Authorize Board to Fix Their
Remuneration Mgmt For For
6 Approve Allocation of Income and
Final Dividend of Baht 2.60 per Share Mgmt For For
7 Elect Directors and Fix Their
Remuneration Mgmt For For
8 Approve Issuance of 9.79 Million
Units of Warrants to Directors,
Employees, and Advisors of the
Company Mgmt For For
9 Approve the Issuance of 9.79 Million
Shares Reserved Exclusively for the
Conversion of Warrants Mgmt For For
10 Approve Issuance of Warrants to
Directors, Employees and Advisors
Exceeding Five Percent of the Total
Issuance Mgmt For For
11 Approve the Issuance of 620,000
Shares Reserved Exclusively for the
Conversion of the ESOP Warrants
Grant 1, 2, and 3 Mgmt For For
12 Other Business Mgmt For Against
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Amdocs Limited DOX G02602103 1/20/2005 Meeting for Holders of ADRs
1.1 Elect Director Bruce K. Anderson Mgmt For For
1.2 Elect Director Adrian Gardner Mgmt For For
1.3 Elect Director Dov Baharav Mgmt For For
1.4 Elect Director Julian A. Brodsky Mgmt For For
1.5 Elect Director Charles E. Foster Mgmt For For
1.6 Elect Director Eli Gelman Mgmt For For
1.7 Elect Director James S. Kahan Mgmt For For
1.8 Elect Director Nehemia Lemelbaum Mgmt For For
1.9 Elect Director John T. Mclennan Mgmt For For
1.1 Elect Director Robert A. Minicucci Mgmt For For
1.11 Elect Director Simon Olswang Mgmt For For
1.12 Elect Director Mario Segal Mgmt For For
-1-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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2 APPROVAL OF CONSOLIDATED FINANCIAL
STATEMENTS FOR FISCAL YEAR 2004. Mgmt For For
3 RATIFICATION AND APPROVAL OF ERNST &
YOUNG LLP AND AUTHORIZATION OF
AUDIT COMMITTEE OF BOARD TO FIX
REMUNERATION. Mgmt For For
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Anglo American
PLC (formerly
Anglo Ame. Corp.
of S. Africa L GB0004901517 4/20/2005 1 Accept Financial Statements and
Statutory Reports Mgmt For For
2 Approve Final Dividend of 51 US
Cents Per Share Mgmt For For
3 Elect R Medori as Director Mgmt For For
4 Elect R Alexander as Director Mgmt For For
5 Elect D Hathorn as Director Mgmt For For
6 Elect S Thompson as Director Mgmt For For
7 Re-elect R Godsell as Director Mgmt For For
8 Re-elect A Trahar as Director Mgmt For For
9 Re-elect K Van Miert as Director Mgmt For For
10 Reappoint Deloitte & Touche LLP
as Auditors of the Company Mgmt For For
11 Authorise Board to Fix Remuneration
of the Auditors Mgmt For For
12 Approve Remuneration Report Mgmt For For
13 Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
Nominal Amount of USD 248,500,000 Mgmt For For
14 Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
Nominal Amount of USD 37,250,000 Mgmt For For
15 Authorise 149,000,000 Shares for
Market Purchase Mgmt For For
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Astro All Asia
Networks Plc MYJ5076OO008 7/13/2004 1 Accept Financial Statements and
Statutory Reports for the Financial
Year Ended Jan. 31, 2004 Mgmt For For
2 Elect Haji Badri Bin Haji Masri
as Director Mgmt For For
3 Elect Augustus Ralph Marshall
as Director Mgmt For For
4 Elect Tan Poh Ching as Director Mgmt For For
-2-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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5 Elect Mohamed Khadar Bin Merican
as Director Mgmt For For
6 Elect Kuok Khoon Ho as Director Mgmt For For
7 Elect Bernard Anthony Cragg as
Director Mgmt For For
8 Approve PricewaterhouseCoopers LLP
as Auditors and Authorize Board to
Fix Their Remuneration Mgmt For For
9 Approve Issuance of Shares Pursuant
to 2003 Employee Share Option Scheme
and 2003 Management Share
Incentive Scheme Mgmt For For
10 Approve Issuance of Shares to
Augustus Ralph Marshall, Executive
Director and Group Chief Executive
Officer of the Company Mgmt For For
11 Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights in Any Amount Up to
Ten Percent of Issued Share Capital Mgmt For For
12 Other Business (Non-Voting)
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ASTRO ALL ASIA
NETWORKS PLC MYJ5076OO008 7/13/2004 1 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with UTSB Management
Sdn and SRG Asia Pacific Sdn Bhd Mgmt For For
2 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with Maxix
Communications Berhad, Maxis Mobile
Sdn Bhd, Maxis Broadband Sdn Bhd and
Malaysian Mobile Services Sdn Bhd Mgmt For For
3 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with Pan Malaysian
Pools Sdn Bhd and Tanjong Village
Sdn Bhd Mgmt For For
4 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with Bonuskad Loyalty
Sdn Bhd Mgmt For For
5 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with Valuelabs Mgmt For For
-3-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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6 Approve Recurrent Related Party
Transactions of a Revenue or
Trading Nature with Binariang
Satellite Sistems Sdn Bhd Mgmt For For
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AU OPTRONICS CORP 2255107 6/14/2005 Meeting for Holders of ADR's
1 ACCEPTANCE OF THE 2004 BUSINESS
REPORT AND FINANCIAL STATEMENTS Mgmt For For
2 APPROVAL OF THE PROPOSAL FOR
DISTRIBUTION OF 2004 PROFITS Mgmt For For
3 APPROVAL OF THE CAPITALIZATION OF
2004 STOCK DIVIDENDS AND EMPLOYEE
STOCK BONUS Mgmt For For
4 APPROVAL OF THE REVISIONS TO ARTICLES
OF INCORPORATION Mgmt For Against
5 APPROVAL OF THE ISSUANCE OF NEW
COMMON SHARES FOR CASH TO SPONSOR
DR OFFERING Mgmt For Against
6 APPROVAL OF THE PROPOSAL TO OPT FOR
TAX BENEFITS ON THE ISSUANCE OF NEW
COMMON SHARES IN 2004 IN ACCORDANCE
WITH THE STATUTE OF UPGRADING
INDUSTRIES PROMULGATED BY THE ROC
MINISTRY OF ECONOMIC AFFAIRS Mgmt For For
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Banco Bradesco
S.A. BRBBDCACNPR8 3/10/2005 Annual Meeting Agenda
1 Accept Financial Statements and
Statutory Reports for Fiscal Year
Ended Dec. 31, 2004 Mgmt For For
2 Elect Directors to the Board
of Directors Mgmt For For
3 Elect Directors to the Supervisory
Board Mgmt For For
4 Approve Remuneration of Directors Mgmt For For
-4-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Special Meeting Agenda
5 Ratify an Increase in Capital,
Approved at the EGM Held on Dec. 9,
2004, by BRL 700 Million Through the
Subscription of 17.5 Million Shares,
of Which, 8.8 Million are Common
Shares and 8.7 Million are Preferred
Shares Mgmt For For
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Bangkok Bank TH0001010014 4/12/2005 1 Approve Minutes of Previous AGM Mgmt For For
2 Accept Directors' Report Mgmt For For
3 Accept Report of the Audit Committee Mgmt For For
4 Accept Financial Statements and
Statutory Reports Mgmt For For
5 Approve Allocation of Income and
Final Dividend of Baht 1.00 per Share Mgmt For For
6 Elect Directors Mgmt For For
7 Approve Deloitte Touche Tohmatsu
Jaiyos as Auditors and Authorize
Board to Fix Their Remuneration Mgmt For For
8 Amend Memorandum of Association
Re: Conversion of 213,345 of Class A
Preferred Shares Mgmt For For
9 Approve the Reconsideration of
Resolutions Regarding the Allocation
of Shares and Issuance of Various
Types of the Bank's Securities Mgmt For Against
10 Other Business Mgmt For Against
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BHP Billiton
Limited 88606108 10/22/2004 Meeting for Holders of ADRs
1 TO RECEIVE THE FINANCIAL STATEMENTS
AND REPORTS OF BHP BILLITON LIMITED Mgmt For For
2 TO RECEIVE THE FINANCIAL STATEMENTS
AND REPORTS OF BHP BILLITON PLC Mgmt For For
3.1 Elect Director Mr D R Argus* Mgmt For For
3.2 Elect Director Mr D R Argus** Mgmt For For
3.3 Elect Director Mr D A Crawford* Mgmt For For
3.4 Elect Director Mr D A Crawford** Mgmt For For
3.5 Elect Director Mr C W Goodyear* Mgmt For For
3.6 Elect Director Mr C W Goodyear** Mgmt For For
3.7 Elect Director Dr J M Schubert* Mgmt For For
-5-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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3.8 Elect Director Dr J M Schubert** Mgmt For For
4 Ratify Auditors Mgmt For For
5 TO RENEW THE DIRECTORS' AUTHORITY
TO ALLOT SHARES IN BHP BILLITON PLC Mgmt For For
6 TO RENEW THE DISAPPLICATION OF
PRE-EMPTION RIGHTS IN BHP BILLITON
PLC Mgmt For For
7 TO APPROVE THE RE-PURCHASE OF SHARES
OF BHP BILLITON PLC Mgmt For For
8 TO APPROVE THE REMUNERATION REPORT Mgmt For For
9 TO APPROVE THE AMENDED GROUP
INCENTIVE SCHEME (GIS) Mgmt For For
10 TO APPROVE THE LONG TERM INCENTIVE
PLAN (LTIP) Mgmt For For
11 TO APPROVE THE GRANT OF AWARDS TO
MR C W GOODYEAR UNDER THE AMENDED
GIS AND LTIP Mgmt For For
12 TO APPROVE THE GRANT OF AWARDS TO
MR M SALAMON UNDER THE AMENDED GIS
AND LTIP Mgmt For For
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CATHAY FINANCIAL
HOLDING COMPANY TW0002882008 6/3/2005 1.1 Receive Report on 2004 Business
Operation Results
1.2 Receive Supervisors' Report
2.1 Accept Financial Statements and
Statutory Reports Mgmt For For
2.2 Approve Allocation of Income and
Cash Dividend of NTD 2.50 per Share Mgmt For For
3.1 Approve Release of Restrictions of
Competitive Activities of Directors Mgmt For For
3.2 Amend Articles of Association Mgmt For Against
4 Other Business Mgmt For Against
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-6-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Central European
Distribution
Corporation CEDC 153435102 5/2/2005 1.1 Elect Director William V. Carey Mgmt For For
1.2 Elect Director David Bailey Mgmt For For
1.3 Elect Director N. Scott Fine Mgmt For For
1.4 Elect Director Tony Housh Mgmt For For
1.5 Elect Director Robert P. Koch Mgmt For For
1.6 Elect Director Jan W. Laskowski Mgmt For For
1.7 Elect Director Richard Roberts Mgmt For Withhold
2 Ratify Auditors Mgmt For For
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Central European
Media Enterprises
Ltd CETV G20045202 6/2/2005 Meeting For Holders of ADR's
1.1 Elect Director Ronald S. Lauder Mgmt For For
1.2 Elect Director Michael Garin Mgmt For For
1.3 Elect Director Charles R. Frank, Jr. Mgmt For For
1.4 Elect Director Herbert A. Granath Mgmt For For
1.5 Elect Director Alfred W. Langer Mgmt For For
1.6 Elect Director Bruce Maggin Mgmt For For
1.7 Elect Director Ann Mather Mgmt For For
1.8 Elect Director Eric Zinterhofer Mgmt For For
2 THE ADOPTION AND APPROVAL OF
AMENDMENTS TO THE CENTRAL EUROPEAN
MEDIA ENTERPRISES LTD. 1995 STOCK
OPTION PLAN, TO BE RENAMED THE
AMENDED AND RESTATED 1995 STOCK
INCENTIVE PLAN, TO PROVIDE FOR
876,000 ADDITIONAL COMMON SHARES
AND TO PROVIDE FOR THE GRANTI Mgmt For For
3 THE ADOPTION OF THE FINANCIAL
STATEMENTS OF THE COMPANY AND THE
AUDITORS' REPORT THEREON FOR THE
COMPANY'S FISCAL YEAR ENDED
DECEMBER 31, 2004. Mgmt For For
4 Ratify Auditors Mgmt For For
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Cheil
Communications
Inc. KR7030000004 2/28/2005 1 Approve Appropriation of Income and
Dividends of KRW 3000 Per Share Mgmt For For
2 Elect Directors Mgmt For For
3 Approve Limit on Remuneration of
Directors Mgmt For For
4 Approve Limit on Remuneration of
Auditors Mgmt For For
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-7-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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CHINA OILFIELD
SERVICES LTD CN0007789299 5/25/2005 1 Accept Financial Statements and
Statutory Reports Mgmt For For
2 Approve Final Dividend of RMB0.0439
Per Share Mgmt For For
3 Approve Budget for Fiscal Year 2005 Mgmt For For
4 Accept Report of Directors Mgmt For For
5 Accept Report of the Supervisory
Committee Mgmt For For
6a Reelect Fu Chengyu as Director and
Authorize Board to Fix the
Remuneration Mgmt For For
6b Reelect Yuan Guangyu as Director
and Authorize Board to Fix the
Remuneration Mgmt For For
6c Reelect Yanyan as Director and
Authorize Board to Fix the
Remuneration Mgmt For For
6d Reelect Kuang Zhiqiang as Director
and Authorize Board to Fix the
Remuneration Mgmt For For
6e Reelect Zhang Benchun as Supervisor
and Authorize Board to Fix the
Remuneration Mgmt For For
6f Elect Xiao Jianwen as Supervisor
and Authorize Board to Fix the
Remuneration Mgmt For For
7 Reappoint Ernst & Young Hua Ming and
Ernst & Young as Domestic and
International Auditors, Respectively,
and Authorize Board to Fix Their
Remuneration Mgmt For For
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China Trust
Financial
Holdings Company
Ltd. TW0002891009 6/10/2005 1.1 Receive Report on 2004 Business
Operation Results
1.2 Receive Supervisors' Report
1.3 Receive Report on the Code of Ethics
1.4 Receive Report on the Amendment of
Board Meeting Procedures
2.1 Accept Financial Statements and
Statutory Reports Mgmt For For
2.2 Approve Allocation of Income and Cash
Dividend of NTD 1 per Share and Stock
Dividend of 200 Shares per 1000 Shares Mgmt For For
3.1 Approve Capitalization of 2004
Dividends and Employee Profit Sharing Mgmt For For
-8-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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3.2 Amend Articles of Association Mgmt For For
4.1 Elect Jeffrey LS Koo as Director
with ID No. 79 Mgmt For For
4.2 Elect Jeffrey JL Koo, Jr,
Representative of Kuan Ho
Construction and Development Co Ltd
as Director with ID No. 265 Mgmt For For
4.3 Elect Wen-Long Yen as Director with
ID No. 686 Mgmt For For
4.4 Elect a Representative of Chung Cheng
Investment Ltd as Director with
ID No. 355101 Mgmt For For
4.5 Elect a Representative of Kuan Ho
Construction and Development Co Ltd
as Director with ID No. 265 Mgmt For For
4.6 Elect a Representative of Asia
Livestock Co Ltd as Director with
ID No. 379360 Mgmt For For
4.7 Elect a Representative of Ho-Yeh
Investment Co as Director with
ID No. 26799 Mgmt For For
5 Other Business
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Companhia Vale Do
Rio Doce 204412209 8/18/2004 Meeting for Holders of ADRs
1 DELIBERATION OF THE PROPOSAL FOR A
FORWARD SPLIT OF SHARES ISSUED BY THE
COMPANY, SO THAT EACH COMMON OR
PREFERRED SHARE ISSUED BY THE COMPANY
WILL BE REPRESENTED BY THREE SHARES
OF THE SAME TYPE AND CLASS, AND THE
CONSEQUENT ALTERATIONS OF ARTICLES 5
AN Mgmt For For
-9-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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2 ELECTION, BY HOLDERS OF PREFERRED
CLASS A SHARES, OF ONE MEMBER AND
HIS ALTERNATE FOR THE COMPANY'S
FISCAL COUNCIL, DUE TO THE
RESIGNATION OF THE FISCAL COUNCIL
MEMBERS ELECTED BY THIS CLASS OF
SHARES, AS WELL AS THE ELECTION BY
THE COMMON SHAREHOLDERS Mgmt For For
3 RECTIFICATION OF THE TOTAL ANNUAL
COMPENSATION OF THE MEMBERS OF THE
COMPANY'S MANAGEMENT FIXED BY THE
ORDINARY GENERAL SHAREHOLDERS
MEETING HELD ON APRIL 28, 2004. Mgmt For For
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Companhia Vale Do
Rio Doce 204412209 4/27/2005 Meeting for Holders of ADR's
1 APPRECIATION OF THE MANAGEMENT'S
REPORT AND ANALYSIS, DISCUSSION AND
VOTE ON THE FINANCIAL STATEMENTS FOR
THE FISCAL YEAR ENDING DECEMBER 31,
2004. Mgmt For For
2 PROPOSAL FOR THE DESTINATION OF THE
PROFITS OF THE SAID FISCAL YEAR AND
APPROVAL OF THE INVESTMENT BUDGET OF
THE COMPANY. Mgmt For For
3 ELECTION OF THE MEMBERS OF THE BOARD
OF DIRECTORS. Mgmt For For
4 ELECTION OF THE MEMBERS OF THE
FISCAL COUNCIL. Mgmt For For
5 ESTABLISHMENT OF THE REMUNERATION OF
THE SENIOR MANAGEMENT AND FISCAL
COUNCIL MEMBERS. Mgmt For For
6 PROPOSAL FOR THE INCREASE OF CAPITAL,
VIA CAPITALIZATION OF RESERVES,
WITHOUT ISSUE OF SHARES, AND WITH
THE CONSEQUENT ALTERATION OF THE
MAIN SECTION OF ARTICLE 5 OF THE
COMPANY BYLAWS. Mgmt For For
7 NEW VERSION OF CVRD'S DIVIDEND POLICY. Mgmt For For
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-10-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Hongkong Land
Holdings Ltd. BMG4587L1090 5/4/2005 1 Adopt Financial Statements and
Directors' and Reports and Final
Dividend Mgmt For For
2a Reelect Charles Allen-Jones as
Director Mgmt For For
2b Reelect Nicholas Sallnow-Smith
as Director Mgmt For For
3 Reappoint Auditors and Authorize
Board to Fix Their Remuneration Mgmt For For
4 Approve Issuance of Shares without
Preemptive Rights Mgmt For For
5 Authorize Share Repurchase Program Mgmt For For
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HSBC Holdings Plc GB0005405286 5/27/2005 1 Accept Financial Statements and
Statutory Reports Mgmt For For
2.a Re-elect Sir John Bond as Director Mgmt For For
2.b Re-elect R Ch'ien as Director Mgmt For For
2.c Re-elect J Coombe as Director Mgmt For For
2.d Re-elect Baroness Dunn as Director Mgmt For For
2.e Re-elect D Flint as Director Mgmt For For
2.f Re-elect J Hughes-Hallet as Director Mgmt For For
2.g Re-elect Sir Brian Moffat as Director Mgmt For For
2.h Re-elect S Newton as Director Mgmt For For
2.i Re-elect H Sohmen as Director Mgmt For For
3 Reappoint KPMG Audit Plc as Auditors
and Authorise the Board to Determine
Their Remuneration Mgmt For For
4 Approve Remuneration Report Mgmt For For
5 Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
Nominal Amount of GBP 100,000
(Preference Shares); USD 100,000
(Preference Shares); EUR 100,000
(Preference Shares); and USD
1,119,000,000 5 (Ordinary Shares) Mgmt For For
6 Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
Nominal Amount of USD 279,750,000 Mgmt For For
7 Authorise 1,119,000,000 Ordinary
Shares for Market Purchase Mgmt For For
8 Amend HSBC Holdings Savings-Related
Share Option Plan Mgmt For For
9 Amend HSBC Holdings Savings-Related
Share Option Plan: International Mgmt For For
10 Approve the HSBC US Employee Stock
Plan Mgmt For For
-11-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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11 Approve the HSBC Share Plan Mgmt For For
12 Amend Articles of Association
Re: Statutory and Best Practice
Changes Mgmt For For
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Industrial Bank
of Korea US4560361028 3/30/2005 Meeting for Holders of ADR's
1 APPROVAL OF BALANCE SHEET, INCOME
STATEMENT AND APPROPRIATION OF
RETAINED EARNINGS FOR THE 44TH FISCAL
YEAR, AS SET FORTH IN THE BANK'S
NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For
2 APPROVAL OF AMENDMENT TO THE ARTICLES
OF INCORPORATION, AS SET FORTH IN THE
BANK'S NOTICE OF MEETING ENCLOSED
HEREWITH. Mgmt For For
3 APPROVAL OF THE INCREASE OF
REMUNERATION LIMIT OF EXECUTIVE
OFFICER, AS SET FORTH IN THE BANK'S
NOTICE OF MEETING ENCLOSED HEREWITH. Mgmt For For
4 APPROVAL OF THE INCREASE OF
REMUNERATION LIMIT OF AUDITOR, AS SET
FORTH IN THE BANK'S NOTICE OF MEETING
ENCLOSED HEREWITH. Mgmt For For
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Kookmin Bank KR7060000007 10/29/2004 1 Elect Executive Director Mgmt For For
2 Ratify Stock Option Grants Mgmt For Against
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Kookmin Bank 50049M109 10/29/2004 Meeting for Holders of ADRs
1 APPOINTMENT OF EXECUTIVE DIRECTORS Mgmt For For
2 APPROVAL OF THE GRANTED STOCK OPTION Mgmt For For
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Kookmin Bank KR7060000007 3/18/2005 1 Approve Appropriation of Income and
Dividends of 550 Per Share Mgmt For For
2 Elect Directors Mgmt For For
3 Elect Executive Director as Member
of Audit Committee Mgmt For Against
4 Elect Non-Executive Directors as
Members of Audit Committee Mgmt For For
5 Ratify Stock Option Grants Mgmt For For
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-12-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Kookmin Bank 50049M109 3/18/2005 Meeting for Holders of ADR's
1 APPROVAL OF NON-CONSOLIDATED
FINANCIAL STATEMENTS FOR THE FISCAL
YEAR 2004: BALANCE SHEET; INCOME
STATEMENT; AND STATEMENT OF RETAINED
EARNINGS (DISPOSITION OF ACCUMULATED
DEFICIT) Mgmt For For
2 APPOINTMENT OF DIRECTORS Mgmt For For
3 APPOINTMENT OF AN AUDIT COMMITTEE
MEMBER CANDIDATE, WHO IS AN
EXECUTIVE DIRECTOR (STANDING AUDIT
COMMITTEE MEMBER) Mgmt For For
4 APPOINTMENT OF AUDIT COMMITTEE MEMBER
CANDIDATES, WHO ARE NON-EXECUTIVE
DIRECTORS Mgmt For For
5 APPROVAL OF PREVIOUSLY GRANTED STOCK
OPTIONS Mgmt For For
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Land & House
Public Co. Ltd. TH0143010Z16 1/27/2005 1 Approve Minutes of Previous AGM Mgmt For For
2 Approve Issuance of Warrants to
Employees Who Act as Directors and
Employees of the Company and its
Subsidiaries Mgmt For Against
3 Other Business Mgmt For Against
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Land & Houses
Public Co. Ltd. TH0143010Z16 4/19/2005 1 Approve Minutes of Previous EGM Mgmt For For
2 Accept Directors' Report Mgmt For For
3 Accept Financial Statements and
Statutory Reports Mgmt For For
4 Approve Allocation of Income and
Final Dividend of Baht 0.30 per Share Mgmt For For
5 Elect Directors and Fix Their
Remuneration Mgmt For For
6 Approve Auditors and Authorize Board
to Fix Their Remuneration Mgmt For For
7 Approve Investment in Land and
Houses Credit Foncier Co, Ltd Mgmt For For
8 Other Business Mgmt For Against
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-13-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Lukoil Oao 677862104 1/24/2005 Shareholder Proposal
1.1 EARLY TERMINATION OF POWERS OF ALL
MEMBERS OF THE COMPANY'S BOARD OF
DIRECTORS ShrHoldr For
Shareholder Proposals: Elect
Directors by Cumulative Voting
1.2A ELECT ALEKPEROV, VAGIT YUSUFOVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2B ELECT BEREZHNOI, MIKHAIL PAVLOVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2C ELECT GRAYFER, VALERY ISA KOVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2D ELECT YESAOULKOVA, TATIANA
STANISLAVOVNA AS MEMBER OF THE
BOARD OF DIRECTORS ShrHoldr Against
1.2E ELECT KUTAFIN, OLEG YEMEL YANOVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr For
1.2F ELECT MAGANOV, RAVIL ULFATOVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2G ELECT MATZKE, RICHARD HERMAN AS
MEMBER OF THE BOARD OF DIRECTORS ShrHoldr For
1.2H ELECT MEYERS, KEVIN OMAR AS MEMBER
OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2I ELECT MIKHAILOVA, SERGEI NATOLIEVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2J ELECT TSVETKOV, MIKOLAI ALEXANDROVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
1.2K ELECT SHERKUNOV, IGOR VLADIMIROVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr Against
-14-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
1.2L ELECT SHOKHIN, ALEXANDER NIOLAEVICH
AS MEMBER OF THE BOARD OF DIRECTORS ShrHoldr For
Shareholder Proposal
2 APPROVAL OF THE AMENDMENTS AND
ADDENDA TO THE CHARTER OF THE OPEN
JOINT STOCK COMPANY OIL COMPANY
LUKOIL ShrHoldr For For
- ----------------------------------------------------------------------------------------------------------------------------------
Lukoil Oao 677862104 6/28/2005 Meeting for Holders of ADR's
1 ENDORSEMENT OF OAO LUKOIL, ANNUAL
REPORT FOR 2004, ANNUAL ACCOUNTING
STATEMENT INCLUDING THE PROFIT-AND-
LOSS STATEMENT (PROFIT-AND-LOSS
ACCOUNTS) OF THE COMPANY. Mgmt For For
2 ELECTION OF DIRECTIONS. IF YOU WISH
TO VOTE SELECTIVELY OR CUMULATE,
PLEASE CONTACT YOUR REPRESENTATIVE. Mgmt For Abstain
3 ELECTION OF MEMBER OF THE AUDIT
COMMISSION: KONDRATYEV, PAVEL
GENNADYEVICH. Mgmt For For
4 ELECTION OF MEMBER OF THE AUDIT
COMMISSION: NIKITENKO, VLADIMIR
NIKOLAYEVICH. Mgmt For For
5 ELECTION OF MEMBER OF THE AUDIT
COMMISSION: SKLYAROVA, TATYANA
SERGUEYEVNA. Mgmt For For
6 ON REMUNERATION AND COMPENSATION OF
EXPENSES TO THE MEMBERS OF THE BOARD
OF DIRECTORS AND THE AUDIT COMMISSION
OF OAO LUKOIL. Mgmt For For
7 ENDORSEMENT OF COMPANY AUDITORS. Mgmt For For
8 APPROVAL OF AMENDMENTS AND ADDENDA
TO THE CHARTERED OF THE PUBLIC JOINT
STOCK COMPANY OIL COMPANY LUKOIL. Mgmt For For
-15-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
9 APPROVAL OF AMENDMENTS AND ADDENDA
TO THE REGULATIONS ON THE PROCEDURE
FOR PREPARING AND HOLDING THE GENERAL
SHAREHOLDERS MEETING OF OAO LUKOIL. Mgmt For For
10 APPROVAL OF AMENDMENTS AND ADDENDA
TO THE REGULATIONS ON THE BOARD OF
DIRECTORS OF OAO LUKOIL. Mgmt For For
11 ON THE APPROVAL OF TRANSACTIONS
INVOLVING INTERESTED/RELATED PARTIES. Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
MANILA WATER
COMPANY INC PHY569991086 5/12/2005 1 Determination of Quorum Mgmt For For
2 Approve Minutes of Previous
Shareholder Meeting Mgmt For For
3 Notation of the Company's 2004 Annual
Report and Approval of the Company's
Audited Financial Statements as of
Dec. 31, 2004 Incorporated in the
Annual Report Mgmt For For
4 Ratify All Acts and Resolutions
During the Past Year of the Board of
Directors, Executive Committee,
Management Committees and Officers of
the Company Mgmt For For
5 Elect 11 Members of the Board of
Directors Mgmt For For
6 Appoint Auditors Mgmt For For
7 Other Business Mgmt For Against
8 Adjournment Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
MAXIS
COMMUNICATIONS
BHD MYL5051OO007 6/23/2005 1 Approve Final Dividends of MYR 0.10
Per Share Tax Exempt and MYR 0.0833
Per Share Less Malaysian Income Tax
at 28 Percent for the Financial Year
Ended Dec. 31, 2004 Mgmt For For
2 Elect Jamaludin bin Ibrahim as
Director Mgmt For For
3 Elect Augustus Ralph Marshall as
Director Mgmt For For
4 Elect Chan Chee Beng as Director Mgmt For For
5 Approve PricewaterhouseCoopers
as Auditors and Authorize Board to
Fix Their Remuneration Mgmt For For
-16-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
6 Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights in Any Amount Up
to 10 Percent of Issued Share Capital Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
MAXIS
COMMUNICATIONS
BHD MYL5051OO007 6/23/2005 1 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with MEASAT Broadcast
Network Systems Sdn Bhd, Multimedia
Interactive Technologies Sdn Bhd and
Airtime Management and Programming
Sdn Bhd Mgmt For For
2 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with SRG Asia Pacific
Sdn Bhd, UT Hospitality Services
Sdn Bhd and BonusKad Loyalty Sdn Bhd Mgmt For For
3 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with MEASAT Satellite
Systems Sdn Bhd Mgmt For For
4 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with TGV Cinemas Sdn Bhd,
Pan Malaysian Pools Sdn Bhd and
Tanjong City Centre Property
Management Sdn Bhd Mgmt For For
5 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with Oakwood Sdn Bhd,
AmProperty Trust Management Bhd,
AmProperty Holdings Sdn Bhd,
AmFinance Bhd, Resorts World Bhd and
Genting Highlands Bhd Among Others Mgmt For For
6 Approve Implementation of Shareholders'
Mandate for Recurrent Related Party
Transactions with HeiTech Padu Bhd Mgmt For For
7 Approve Offer and Grant of Options to
Jamaludin bin Ibrahim, the Chief
Executive Officer and an Executive
Director of Maxis Communications Bhd
Pursuant to the Employee Share Option
Scheme and Contract of Service Mgmt For Against
- ------------------------------------------------------------------------------------------------------------------------------------
-17-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
NII Holdings, Inc. NIHD 62913F201 4/27/2005 1.1 Elect Director Neal P. Goldman Mgmt For For
1.2 Elect Director Charles M. Herington Mgmt For For
1.3 Elect Director John W. Risner Mgmt For For
2 Ratify Auditors Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Petrochina Co.
Ltd. CN0009365379 5/26/2005 1 Accept Report of the Board of
Directors Mgmt For For
2 Accept Report of the Supervisory
Committee Mgmt For For
3 Accept Financial Statements and
Statutory Reports Mgmt For For
4 Approve Final Dividend Mgmt For For
5 Authorize Board to Determine the
Distribution of Interim Dividend
for 2005 Mgmt For For
6 Appoint PricewaterhouseCoopers,
Certified Public Accountants as
International Auditors and
PricewaterhouseCoopers Zhong Tian
CPAs Co. Ltd., Certified Public
Accountants as Domestic Auditors
and Authorize Board to Fix Their
Remuneration Mgmt For For
7 Amend Articles Re: Editing Changes,
Reports Available to Shareholders,
Voting at Meetings, Nomination of
Directors, Releasing of Notices of
Meetings, Material Interest of
Directors in Contracts Entered into
by the Company Mgmt For For
8 Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights Mgmt For Against
9 Other Business (Voting) Mgmt For Against
- ----------------------------------------------------------------------------------------------------------------------------------
PORTS DESIGN LTD BMG718481085 11/15/2004 1 Approve Subdivision of Every Existing
Share of HK$0.01 Each into Four Shares
of HK$0.0025 Each Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
PORTS DESIGN LTD BMG718481242 5/24/2005 1 Accept Financial Statements and
Statutory Reports Mgmt For For
2 Approve Final Dividend Mgmt For For
3 Reappoint Auditors and Authorize
Board to Fix Their Remuneration Mgmt For For
4 Reelect Directors and Authorize
Board to Fix Their Remuneration Mgmt For Against
5a Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights Mgmt For Against
5b Approve Repurchase of Up to 10
Percent of Issued Capital Mgmt For For
5c Authorize Reissuance of Repurchased
Shares Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-18-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
POSCO (formerly
Pohang Iron &
Steel) 693483109 2/25/2005 Meeting for the Holders of ADR's
1 APPROVAL OF BALANCE SHEET, INCOME
STATEMENT, AND THE STATEMENT OF
APPROPRIATION OF RETAINED EARNINGS
FOR THE 37TH FISCAL YEAR (FROM
JANUARY 1, 2004 TO DECEMBER 31, 2004) Mgmt For For
2 ELECTION OF OUTSIDE DIRECTOR: AHN,
CHARLES Mgmt For For
3 ELECTION OF OUTSIDE DIRECTOR AS AUDIT
COMMITTEE MEMBER: KIM, E. HAN Mgmt For For
4 ELECTION OF OUTSIDE DIRECTOR AS AUDIT
COMMITTEE MEMBER: SUN, WOOK Mgmt For For
5 ELECTION OF STANDING DIRECTOR: LEE,
YOUN Mgmt For For
6 APPROVAL OF THE CEILING AMOUNT OF
TOTAL REMUNERATION FOR DIRECTORS IN
THE FISCAL YEAR 2005 Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
PT Telekomunikasi
Indonesia 715684106 6/24/2005 Meeting for Holders of ADR's
1 APPROVAL OF THE COMPANY'S ANNUAL
REPORT FOR THE FINANCIAL YEAR 2004. Mgmt For For
2 RATIFICATION OF THE COMPANY AUDITED
CONSOLIDATED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR 2004 AND
ACQUITTAL AND DISCHARGE TO THE BOARD
OF DIRECTORS AND BOARD OF
COMMISSIONERS. Mgmt For For
3 DETERMINATION OF THE FINANCIAL YEAR
2004'S PROFIT UTILIZATION INCLUDING
DISTRIBUTION OF DIVIDEND. Mgmt For For
4 APPOINTMENT OF PUBLIC ACCOUNTANT TO
AUDIT THE COMPANY RECORDS FOR 2005
FINANCIAL YEAR. Mgmt For For
5 DETERMINATION OF COMPENSATION FOR THE
BOARD OF DIRECTORS AND BOARD OF
COMMISSIONERS FOR THE FINANCIAL YEAR
2005. Mgmt For For
6 APPROVAL OF ADDITION AND APPOINTMENT
OF MEMBERS OF THE BOARD OF DIRECTORS
DURING THE PERIOD OF 2005-2010. Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
-19-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
Rio Tinto Plc
(Formerly Rtz
Corp. Plc) 767204100 4/14/2005 Meeting for Holders of ADR's
1 AUTHORITY TO ALLOT RELEVANT SECURITIES
UNDER SECTION 80 OF THE COMPANIES
ACT 1985 Mgmt For For
2 AUTHORITY TO ALLOT EQUITY SECURITIES
FOR CASH UNDER SECTION 89 OF THE
COMPANIES ACT 1985 Mgmt For For
3 AUTHORITY TO PURCHASE RIO TINTO PLC
SHARES BY THE COMPANY OR RIO TINTO
LIMITED Mgmt For For
4 AUTHORITY TO PURCHASE RIO TINTO LIMITED
SHARES, OFF MARKET BY TENDER, BY RIO
TINTO LIMITED Mgmt For For
5 AMENDMENTS TO THE ARTICLES OF
ASSOCIATION OF THE COMPANY AND THE
CONSTITUTION OF RIO TINTO LIMITED Mgmt For For
6 AMENDMENTS TO THE DLC MERGER SHARING
AGREEMENT Mgmt For For
7 APPROVAL OF THE RIO TINTO SHARE
SAVINGS PLAN Mgmt For For
8 ELECTION OF RICHARD GOODMANSON AS
A DIRECTOR Mgmt For For
9 ELECTION OF ASHTON CALVERT AS
A DIRECTOR Mgmt For For
10 ELECTION OF VIVIENNE COX AS A DIRECTOR Mgmt For For
11 RE-ELECTION OF PAUL SKINNER AS
A DIRECTOR Mgmt For For
12 Ratify Auditors Mgmt For For
-20-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
13 APPROVAL OF REMUNERATION REPORT Mgmt For For
14 RECEIVE THE ANNUAL REPORT AND
FINANCIAL STATEMENTS FOR THE YEAR
ENDED DECEMBER 31, 2004 * Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Samsung
Electronics Co.
Ltd. KR7005930003 2/28/2005 1 Approve Appropriation of Income, with
a Final Dividend of KRW 5000 Per
Common Share Mgmt For For
2 Elect One Director Mgmt For For
3 Approve Limit on Remuneration of
Directors Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
SEMIRARA MINING
CORPORATION PHY7627Y1552 5/27/2005 1 Call to Order Mgmt For For
2 Report on Attendance and Quorum Mgmt For For
3 Approve Minutes of Previous
Shareholder Meeting Mgmt For For
4 Approve Annual Report of Management Mgmt For For
5 Ratify Acts of the Board of
Directors and Officers Mgmt For For
6 Amend the Company's Articles of
Incorporation Re: To Emphasize Coal
Mining Exploration as Its Primary
Purpose Mgmt For Against
7 Elect Directors Mgmt For For
8 Adjournment Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Shinhan Financial
Group Co. Ltd. KR7055550008 3/30/2005 1 Approve Appropriation of Income and
Dividends of KRW 750 Per Share Mgmt For For
2 Elect Directors Mgmt For For
3 Elect Members of Audit Committee Mgmt For For
4 Approve Limit on Remuneration of
Directors Mgmt For For
5 Approve Stock Option Grants Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Shinsegae Co. Ltd KR7004170007 3/4/2005 1 Approve Appropriation of Income and
Dividends of KRW 1000 Per Share Mgmt For Against
2 Amend Articles of Incorporation
Re: Permitted Business Objectives Mgmt For For
3 Elect Directors Mgmt For For
-21-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
4 Elect Outside Directors as Members
of Audit Committee Mgmt For For
5 Elect Inside Director as Member of
Audit Committee Mgmt For Against
6 Approve Limit on Remuneration of
Directors Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
SIT Money Market
Fund Inc. 82979F101 10/18/2004 1.1 Elect Director Eugene C. Sit Mgmt For For
1.2 Elect Director Sidney L. Jones Mgmt For For
1.3 Elect Director William E. Frenzel Mgmt For For
1.4 Elect Director John E. Hulse Mgmt For For
1.5 Elect Director Bruce C. Lueck Mgmt For For
1.6 Elect Director Donald W. Phillips Mgmt For For
2 Ratify Auditors Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
SK Telecom 78440P108 3/11/2005 Meeting For the Holders of ADR's
1 APPROVAL OF THE BALANCE SHEET, THE
STATEMENT OF INCOME, AND THE STATEMENT
OF APPROPRIATION OF RETAINED EARNINGS
OF THE 21ST FISCAL YEAR, AS SET FORTH
IN THE COMPANY'S AGENDA. Mgmt For
2 APPROVAL OF THE AMENDMENT OF THE
ARTICLES OF INCORPORATION, AS SET
FORTH IN THE COMPANY'S AGENDA. Mgmt For
3 APPROVAL OF THE CEILING AMOUNT OF THE
REMUNERATION OF DIRECTORS, AS SET
FORTH IN THE COMPANY'S AGENDA. Mgmt For
4 APPROVAL OF THE APPOINTMENT OF
DIRECTORS, AS SET FORTH IN THE
COMPANY'S AGENDA. Mgmt For
5 APPROVAL OF THE APPOINTMENT OF
OUTSIDE DIRECTORS WHO WILL NOT BE
AUDIT COMMITTEE MEMBERS, AS SET
FORTH IN THE COMPANY'S AGENDA. Mgmt For
6 APPROVAL OF THE APPOINTMENT OF
OUTSIDE DIRECTORS WHO WILL BE AUDIT
COMMITTEE MEMBERS, AS SET FORTH IN
THE COMPANY'S AGENDA. Mgmt For
- ------------------------------------------------------------------------------------------------------------------------------------
-22-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
STARHUB LTD SG1Q08920544 4/26/2005 1 Adopt Financial Statements and
Directors' and Auditors' Reports Mgmt For For
2 Reelect Lim Chin Beng as Director Mgmt For For
3 Reelect Tan Guong Ching as Director Mgmt For For
4 Reelect Lee Theng Kiat as Director Mgmt For For
5 Reelect Kua Hong Pak as Director Mgmt For For
6 Reelect Lim Ming Seong as Director Mgmt For For
7 Reelect Steven Terrell Clontz as
Director Mgmt For For
8 Reelect Peter Seah Lim Huat as
Director Mgmt For For
9 Reelect Teo Ek Tor as Director Mgmt For For
10 Reelect Nihal Vijaya Devadas
Kaviratne as Director Mgmt For For
11 Reelect Liu Chee Ming as Director Mgmt For For
12 Approve Directors' Fees of SGD
322,982 for the Year Ended Dec. 31,
2004 (2003: SGD 208,027) Mgmt For For
13 Reappoint KPMG as Auditors and
Authorize Board to Fix Their
Remuneration Mgmt For For
14 Approve Mandate for Transactions
with Related Parties Mgmt For For
15 Approve Issuance of Shares without
Preemptive Rights Mgmt For For
16 Approve Issuance of Shares and Grant
of Options Pursuant to the StarHub
Pte Ltd Share Option Plan Mgmt For Against
17 Approve Issuance of Shares and Grant
of Options Pursuant to the StarHub
Share Option Plan 2004, StarHub
Performance Share Plan, StarHub
Restricted Stock Plan Mgmt For Against
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Hung Kai
Properties Ltd. HK0016000132 12/9/2004 1 Accept Financial Statements and
Statutory Reports for the Year Ended
June 30, 2004 Mgmt For For
2 Approve Final Dividend Mgmt For For
3a1 Reelect Sze-yuen Chung as Director Mgmt For For
3a2 Reelect Fung Kwok-king, Victor as
Director Mgmt For For
3a3 Reelect Po-shing Woo as Director Mgmt For For
3a4 Reelect Kwan Cheuk-yin, William
as Director Mgmt For For
3a5 Reelect Dicky Peter Yip as Director Mgmt For For
3b Fix Directors' Remuneration Mgmt For For
4 Reappoint Auditors and Authorize
Board to Fix Their Remuneration Mgmt For For
5 Approve Repurchase of Up to 10
Percent of Issued Capital Mgmt For For
-23-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
6 Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights Mgmt For Against
7 Authorize Reissuance of Repurchased
Shares Mgmt For For
8 Adopt New Articles of Association Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Taiwan
Semiconductor
Manufacturing Co. TW0002330008 12/21/2004 1 Amend Articles of Association
Re: Dividend Policy Mgmt For For
2 Other Business
- ----------------------------------------------------------------------------------------------------------------------------------
Taiwan
Semiconductor
Manufacturing Co. TW0002330008 5/10/2005 1.1 Receive Report on Business Operation
Results for Fiscal Year 2004
1.2 Receive Supervisors' Report
1.3 Receive Report on the Acquisition or
Disposal of Assets with Related
Parties for 2004
1.4 Receive Report on the Status of
Guarantees Provided by the Company
as of the End of 2004
1.5 Receive Report on the Execution of
Treasury Stock Buyback
2.1 Accept Financial Statements and
Statutory Reports Mgmt For For
2.2 Approve Allocation of Income and
Cash Dividend of NTD 2.00 per Share
and Stock Dividend of 50 Shares per
1000 Shares Held Mgmt For For
2.3 Approve Capitalization of 2004
Dividends and Employee Profit Sharing Mgmt For For
2.4 Amend Articles of Association Mgmt For For
3 Other Business
- ------------------------------------------------------------------------------------------------------------------------------------
-24-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
Taro
Pharmaceuticals
Industries M8737E108 8/5/2004 Meeting for Holders of ADRs
1.1 Elect Director Heather Douglas Mgmt For For
1.2 Elect Director Michael Friedman Mgmt For For
1.3 Elect Director Eric Johnston Mgmt For For
1.4 Elect Director Gad Keren Mgmt For For
1.5 Elect Director Barrie Levitt Mgmt For For
1.6 Elect Director Tal Levitt Mgmt For For
1.7 Elect Director Daniel Moros Mgmt For For
1.8 Elect Director Myron Strober Mgmt For For
2 Ratify Auditors Mgmt For For
3 APPROVE THE AUDITORS' REPORT AND
CONSOLIDATED FINANCIAL STATEMENTS OF
THE COMPANY FOR THE YEAR ENDED
DECEMBER 31, 2003. Mgmt For For
4 APPROVE AN AMENDMENT TO THE COMPANY'S
1999 STOCK INCENTIVE PLAN AUTHORIZING
THE GRANT OF STOCK OPTIONS TO THE
COMPANY'S INDEPENDENT DIRECTORS. Mgmt For Against
5 APPROVE THE GRANT OF STOCK OPTIONS TO
THE COMPANY'S INDEPENDENT DIRECTORS. Mgmt For Against
- ----------------------------------------------------------------------------------------------------------------------------------
THAI OIL PUBLIC
CO LTD TH0796010013 4/28/2005 1 Accept Directors' Report Mgmt For For
2 Accept Financial Statements and
Statutory Reports Mgmt For For
3 Approve Allocation of Income and
Dividend of Baht 1.80 per Share Mgmt For For
4 Elect Directors and Fix Their
Remuneration Mgmt For For
5 Approve Auditors and Authorize Board
to Fix Their Remuneration Mgmt For For
6 Approve Release of Debentures Mgmt For Against
7 Amend Memorandum of Association Mgmt For Against
8 Other Business Mgmt For Against
- ----------------------------------------------------------------------------------------------------------------------------------
The India Fund,
Inc. 454089103 4/21/2005 1.1 Elect Director Leslie H. Gelb Mgmt For For
1.2 Elect Director Stephane R.F. Henry Mgmt For Withhold
1.3 Elect Director Luis F. Rubio Mgmt For For
- ------------------------------------------------------------------------------------------------------------------------------------
-25-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
TSAKOS ENERGY
NAVIGATION
LTD.(formerly MIF
Limited) TNP G9108L108 5/25/2005 Meeting for Holders of ADRs
1.1 Elect Director Mr. T. Janholt Mgmt For For
1.2 Elect Director Mr. M. Jolliffe Mgmt For For
1.3 Elect Director Mr. A. Plakopitas Mgmt For For
2 APPROVAL OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED DECEMBER 31, 2004,
TOGETHER WITH THE AUDITORS REPORT. Mgmt For For
3 Ratify Auditors Mgmt For For
4 INCREASE OF THE AUTHORIZED SHARE
CAPITAL OF THE COMPANY. Mgmt For Against
5 AUTHORIZATION OF THE REMUNERATION
OF DIRECTORS. Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Tsingtao Brewery
Co CN0008870445 6/23/2005 1 Accept Work Report of the Directors Mgmt For For
2 Accept Work Report of the Supervisory
Committee Mgmt For For
3 Accept Financial Statements and
Statutory Reports Mgmt For For
4 Approve Proposal for Profit
Distribution and Dividend Allocation Mgmt For For
5 Reappoint PricewaterhouseCoopers
Zhongtian Certified Public Accountants
Limited as Domestic Auditors and
PricewaterhouseCoopers, Hong Kong as
International Auditors for 2005 and
Authorize Board to Fix Their
Remuneration Mgmt For For
6a Elect Li Gui Rong as Director Mgmt For For
6b Elect Jin Zhi Guo as Director Mgmt For For
6c Elect Sun Ming Bo as Director Mgmt For For
6d Elect Liu Ying Di as Director Mgmt For For
6e Elect Sun Yu Guo as Director Mgmt For For
6f Elect Stephen J. Burrows as
Non-Executive Director Mgmt For For
6g Elect Mark F. Schumm as
Non-Executive Director Mgmt For For
6h Elect Chu Zhen Gang as Independent
Non-Executive Director Mgmt For For
6i Elect Fu Yang as Independent
Non-Executive Director Mgmt For For
6j Elect Li Yan as Independent
Non-Executive Director Mgmt For For
6k Elect Poon Chiu Kwok as Independent
Non-Executive Director Mgmt For For
-26-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
7a Elect Sun Jia Yao as Supervisor Mgmt For For
7b Elect Liu Qing Yuan as Supervisor Mgmt For For
7c Elect Zhong Ming Shan as Supervisor Mgmt For For
7d Elect Chen Jun as Supervisor Mgmt For For
7e Elect Frances Zheng as Supervisor Mgmt For For
8 Approve Total Remuneration of
Directors of Not More Than RMB
3.3 Million, Determine Remuneration
of the Supervisory Committee and
Authorize Board and Supervisory
Committee to Fix the Remuneration of
Each Director and Supervisor
Respectively Mgmt For For
9a Amend Articles of Association Mgmt For For
9b Adopt Order of Meeting for
Shareholders General Meetings, Order
of Meeting for Board of Directors,
and Order of Meeting for Supervisory
Committee as Addenda to the Articles
of Association Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Vimpel
Communications Ao 68370R109 10/8/2004 Meeting for Holders of ADRs
1 APPROVAL OF THE AMENDMENT TO THE
CHARTER OF VIMPELCOM. Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Vimpel
Communications OJSC 68370R109 6/22/2005 Meeting for Holders of ADR's
1 APPROVAL OF THE 2004 VIMPELCOM
ANNUAL REPORT Mgmt For Do Not Vote
2 APPROVAL OF VIMPELCOM'S ACCOUNTING
STATEMENTS, INCLUDING PROFIT AND
LOSS STATEMENT FOR 2004 Mgmt For Do Not Vote
3 ALLOCATION OF PROFITS AND LOSSES,
ALL AS MORE FULLY DESCRIBED IN THE
NOTICE Mgmt For Do Not Vote
4 Elect Directors Mgmt None Do Not Vote
-27-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
5 APPROVAL OF THE AMENDED AND RESTATED
PROCEDURAL REGULATIONS OF THE BOARD
OF DIRECTORS Mgmt For Do Not Vote
6 ELECTION OF THE AUDIT COMMISSION Mgmt For Do Not Vote
7 APPROVAL OF EXTERNAL AUDITORS Mgmt For Do Not Vote
8 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC EXTEL INTO
VIMPELCOM Mgmt For Do Not Vote
9 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC SOTOVAYA
COMPANY INTO VIMPELCOM Mgmt For Do Not Vote
10 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC STAVTELESOT
INTO VIMPELCOM Mgmt For Do Not Vote
11 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC VOSTOK-ZAPAD
TELECOM INTO VIMPELCOM Mgmt For Do Not Vote
12 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC ORENSOT INTO
VIMPELCOM Mgmt For Do Not Vote
13 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC
BEELINE-SAMARA INTO VIMPELCOM Mgmt For Do Not Vote
14 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC DAL TELECOM
INTERNATIONAL INTO VIMPELCOM Mgmt For Do Not Vote
16 APPROVAL OF THE 2004 VIMPELCOM ANNUAL
REPORT Mgmt None Do Not Vote
17 APPROVAL OF VIMPELCOM'S ACCOUNTING
STATEMENTS, INCLUDING PROFIT AND
LOSS STATEMENT FOR 2004 Mgmt None Do Not Vote
-28-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
18 ALLOCATION OF PROFITS AND LOSSES, ALL
AS MORE FULLY DESCRIBED IN THE NOTICE Mgmt None Do Not Vote
19 Elect Directors Mgmt For Do Not Vote
20 APPROVAL OF THE AMENDED AND RESTATED
PROCEDURAL REGULATIONS OF THE BOARD
OF DIRECTORS Mgmt None Do Not Vote
21 ELECTION OF THE AUDIT COMMISSION Mgmt None Do Not Vote
22 APPROVAL OF EXTERNAL AUDITORS Mgmt None Do Not Vote
23 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC EXTEL INTO
VIMPELCOM Mgmt None Do Not Vote
24 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC SOTOVAYA
COMPANY INTO VIMPELCOM Mgmt None Do Not Vote
25 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC STAVTELESOT
INTO VIMPELCOM Mgmt None Do Not Vote
26 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC VOSTOK-ZAPAD
TELECOM INTO VIMPELCOM Mgmt None Do Not Vote
27 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC ORENSOT INTO
VIMPELCOM Mgmt None Do Not Vote
28 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC
BEELINE-SAMARA INTO VIMPELCOM Mgmt None Do Not Vote
29 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC DAL TELECOM
INTERNATIONAL INTO VIMPELCOM Mgmt None Do Not Vote
-29-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
30 APPROVAL OF THE 2004 VIMPELCOM ANNUAL
REPORT Mgmt None For
31 APPROVAL OF VIMPELCOM'S ACCOUNTING
STATEMENTS, INCLUDING PROFIT AND
LOSS STATEMENT FOR 2004 Mgmt None For
32 ALLOCATION OF PROFITS AND LOSSES, ALL
AS MORE FULLY DESCRIBED IN THE NOTICE Mgmt None For
33.1 Elect Peter Watson as Director Mgmt None For
33.2 Elect David Haines as Director Mgmt None For
33.3 Elect Alex Sozonoff as Director Mgmt None For
33.4 Elect Natalia Tsukanova as Director Mgmt None Withhold
34 APPROVAL OF THE AMENDED AND RESTATED
PROCEDURAL REGULATIONS OF THE BOARD
OF DIRECTORS Mgmt None For
35 ELECTION OF THE AUDIT COMMISSION Mgmt None For
36 APPROVAL OF EXTERNAL AUDITORS Mgmt None For
37 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC EXTEL INTO
VIMPELCOM Mgmt None For
38 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC SOTOVAYA
COMPANY INTO VIMPELCOM Mgmt None For
39 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC STAVTELESOT
INTO VIMPELCOM Mgmt None For
40 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF CJSC VOSTOK-ZAPAD
TELECOM INTO VIMPELCOM Mgmt None For
-30-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
41 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC ORENSOT INTO
VIMPELCOM Mgmt None For
42 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC
BEELINE-SAMARA INTO VIMPELCOM Mgmt None For
43 REORGANIZATION OF VIMPELCOM THROUGH
STATUTORY MERGER OF OJSC DAL TELECOM
INTERNATIONAL INTO VIMPELCOM Mgmt None For
- ----------------------------------------------------------------------------------------------------------------------------------
Wal-Mart de
Mexico S.A. de
C.V. (frmrly.
Cifra S.A.) MXP810081010 2/24/2005 Only V Shares Can Vote
1 Accept Chairman's Report Mgmt For For
2 Accept Audit Committee's Report Mgmt For For
3 Accept Supervisory Board Report Mgmt For For
4 Accept Financial Statements for
Fiscal Year Ended December 2004 Mgmt For For
5 Present Report on the Share
Repurchase Reserves Mgmt For For
6 Approve Cancellation of 105.3 Million
Company Treasury Shares Mgmt For For
7 Approve Allocation of Income Mgmt For For
8 Approve Dividend With Payout of
MXN 0.63 Per Share or Stock in the
Company Whose Value Will Be
Determined on The Closing Day of
March 15, 2005 Mgmt For For
9 Approve Variable Capital Increase
Through Issuance of 137.6 Million
Common Shares To Be Paid Back as
Dividends at MXN 0.63 Per Share;
The Targeted Increase in Capital is
MXN 2.8 Billion Mgmt For For
10 Approve Modifications to Article 5
in the Bylaws Mgmt For For
11 Accept Report Re: Employee Stock
Option Plan Mgmt For Against
12 Accept Report Re: Wal-Mart de
Mexico Foundation Mgmt For For
13 Approve Discharge of the Board of
Directors Mgmt For For
14 Elect or Approve Members of the
Board of Director and Supervisory
Board Mgmt For For
-31-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
15 Approve Minutes of Meeting Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
XINAO GAS HOLDINGS KYG9826J1040 3/21/2005 1 Approve Product Sale Agreement Between
the Company and Its Subsidiaries (the
Group) and Companies Controlled by
Wang Yusuo and Associates (Wang Family
Companies) for the Sale and Purchase of
Products Manufactured by the Wang
Family Companies Mgmt For For
2 Approve Annual Caps in Relation to
Transactions Contemplated Under the
Product Sale Agreement Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
XINAO GAS HOLDINGS KYG9826J1040 5/23/2005 1 Accept Financial Statements and
Statutory Reports Mgmt For For
2 Approve Final Dividend Mgmt For For
3a Reelect Qiao Limin as Director Mgmt For For
3b Reelect Jin Yongsheng as Director Mgmt For For
3c Reelect Cheng Chak Ngok as Director Mgmt For For
3d Reelect Yien Yu Yu, Catherine as
Director Mgmt For For
3e Reelect Kong Chung Kau as Director Mgmt For For
3f Authorize Board to Fix the
Remuneration of the Directors Mgmt For For
4 Reappoint Auditors and Authorize
Board to Fix Their Remuneration Mgmt For For
5a Approve Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights Mgmt For Against
5b Approve Repurchase of Up to 10
Percent of Issued Capital Mgmt For For
5c Authorize Reissuance of Repurchased
Shares Mgmt For For
6 Amend Articles Re: Retirement by
Rotation and Removal of Directors Mgmt For For
- ----------------------------------------------------------------------------------------------------------------------------------
Yukos Oil Company 98849W108 12/20/2004 Meeting for Holders of ADRs
1 TO LIQUIDATE VOLUNTARILY THE JOINT-
STOCK COMPANY YUKOS OIL COMPANY,
APPROVE A PROCEDURE AND TIMELINE FOR
THE LIQUIDATION AND TO APPOINT,
DELEGATE AND INSTRUCT A LIQUIDATOR
AND LIQUIDATION COMMISSION Mgmt For For
-32-
PROXY VOTE SUMMARY REPORT FROM 07/01/04 TO 06/30/05
SIT DEVELOPING MARKETS GROWTH FUND
Meeting Mgmt. Fund Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- ----------------------------------------------------------------------------------------------------------------------------------
2 TO FILE FOR YUKOS OIL COMPANY
INSOLVENCY WITH THE COURT OF
ARBITRATION AND TO INSTRUCT THE
MANAGING ENTITY YUKOS-MOSCOW TO FILE
FOR INSOLVENCY WITH THE COURT OF
ARBITRATION NO LATER THAN 1 (ONE)
MONTH AFTER TAKING THIS DECISION Mgmt For For
-33-
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) Sit Developing Markets Growth Fund, a series of
Sit Mutual Funds, Inc.
----------------------------------------------------------------
By (Signature and Title)* /s/ Paul E. Rasmussen, Vice President
----------------------------------------------------
Date August 31, 2005
------------------------------------------------------------------------
* Print the name and title of each signing officer under his or her signature.