UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX/A
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act number 811-06373
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Sit International 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, 2006
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Date of reporting period: July 1, 2005 - June 30, 2006
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PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Advanced Info
Service PCL Y0014U183 4/24/2006 1 Open Meeting Mgmt For For
2 Approve Minutes of Previous AGM Mgmt For For
3 Accept 2005 Operation Results Mgmt For For
Accept Financial Statements and
4 Statutory Reports Mgmt For For
Approve Allocation of Income and
Payment of Final Dividend of Baht 3.3
5 Per Share Mgmt For For
Approve Auditors and Authorize Board to
6 Fix Their Remuneration Mgmt For For
7 Reelect Boonklee Plangsiri as Director Mgmt For For
8 Approve Remuneration of Directors Mgmt For For
Approve Issuance of 10.14 Million
Warrants to Directors and Employees of
the Company Under the Employee Stock
9 Option Plan Grant V (ESOP Grant V) Mgmt For For
Approve Allocation of 10.14 Million New
Ordinary Shares Pursuant to the ESOP
10 Grant V Mgmt For For
Approve Issuance of 5.31 percent of the
Total Warrants to Somprasong Boonyachai
11 Under the ESOP Grant V Mgmt For For
Approve Allocation of 615,800
Additional Ordinary Shares Pursuant to
the Employee Stock Option Plan Grant 1,
12 2, 3, and 4 Mgmt For For
13 Other Business Mgmt For Against
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AES Tiete
SA(formerly
Companhia de Accept Financial Statements and
Geracao de Statutory Reports and Approve
Energia Tiete) P4991B101 3/21/2006 1 Allocation of Income Mgmt For For
Approve Aggregate Annual Remuneration
2 of Directors Mgmt For For
Elect Employee Representative and
3 Alternate to the Board Mgmt For For
4 Elect Directors Mgmt For For
5 Elect Supervisory Board Mgmt For For
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AFLAC
Incorporated AFL 1055102 5/1/2006 1.1 Elect Director Daniel P. Amos Mgmt For For
1.2 Elect Director John Shelby Amos, II Mgmt For For
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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1.3 Elect Director Michael H. Armacost Mgmt For Withhold
1.4 Elect Director Kriss Cloninger, III Mgmt For For
1.5 Elect Director Joe Frank Harris Mgmt For For
1.6 Elect Director Elizabeth J. Hudson Mgmt For For
1.7 Elect Director Kenneth S. Janke Sr. Mgmt For For
1.8 Elect Director Douglas W. Johnson Mgmt For For
1.9 Elect Director Robert B. Johnson Mgmt For For
1.10 Elect Director Charles B. Knapp Mgmt For For
1.11 Elect Director Hidefumi Matsui Mgmt For For
1.12 Elect Director E. Stephen Purdom, M.D. Mgmt For For
1.13 Elect Director Barbara K. Rimer, Dr. Ph Mgmt For For
1.14 Elect Director Marvin R. Schuster Mgmt For For
1.15 Elect Director David Gary Thompson Mgmt For For
1.16 Elect Director Tohru Tonoike Mgmt For For
1.17 Elect Director Robert L. Wright Mgmt For For
2 Ratify Auditors Mgmt For For
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Allianz AG
(formerly
Allianz Holding Receive Financial Statements and
AG) D03080112 5/3/2006 1 Statutory Reports for Fiscal 2005 Mgmt None None
Approve Allocation of Income and
2 Dividends of EUR 2.00 per Share Mgmt For For
Approve Discharge of Management Board
3 for Fiscal 2005 Mgmt For For
Approve Discharge of Supervisory Board
4 for Fiscal 2005 Mgmt For For
Approve Affiliation Agreement with
Subsidiary Allianz Alternative Assets
5 Holding GmbH Mgmt For For
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Allianz AG Approve Merger by Absorption of
(formerly Riunione Adriatica di Sicurta SpA;
Allianz Holding Approve Change of Corporate Form to
AG) D03080112 2/8/2006 1 Societas Europea (SE) Mgmt For For
Issue 25.1 Million Shares in Connection
with Merger by Merger by Absorption of
RIUNIONE ADRIATICA DI SICURTA Societa
2 per Azioni Mgmt For For
Approve Creation of EUR 450 Million
Pool of Conditional Capital with
3 Preemptive Rights Mgmt For For
4 Approve Employee Stock Purchase Plan Mgmt For For
Approve Issuance of Convertible Bonds
and/or Bonds with Warrants Attached up
to Aggregate Nominal Amount of EUR 10
Billion with Preemptive Rights; Approve
Creation of EUR 250 Million Pool of
Conditional Capital to Guarantee
5 Conversion Rights Mgmt For For
-2-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Authorize Repurchase of up to Five
Percent of Issued Share Capital for
6 Trading Purposes Mgmt For For
Authorize Repurchase of up to 10
Percent of Issued Share Capital for
7 Purposes other than Trading Mgmt For For
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Amdocs Limited DOX G02602103 1/19/2006 1.1 Elect Director Bruce K. Anderson Mgmt For For
1.2 Elect Director Adrian Gardner Mgmt For For
1.3 Elect Director Charles E. Foster Mgmt For For
1.4 Elect Director James S. Kahan Mgmt For For
1.5 Elect Director Dov Baharav Mgmt For For
1.6 Elect Director Julian A. Brodsky Mgmt For For
1.7 Elect Director Eli Gelman Mgmt For For
1.8 Elect Director Nehemia Lemelbaum Mgmt For For
1.9 Elect Director John T. Mclennan Mgmt For For
1.10 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
APPROVAL OF AMENDMENT OF THE 1998 STOCK
OPTION AND INCENTIVE PLAN TO INCREASE
THE NUMBER OF SHARES AUTHORIZED FOR
ISSUANCE THEREUNDER, TO CONTINUE THE
TERM OF THE PLAN FOR AN ADDITIONAL
10-YEAR TERM AND TO MAKE OTHER CHANGES
2 AS DESCRIBED IN THE ACCOMPANY Mgmt For For
APPROVAL OF SPECIAL RESOLUTION TO
PERMIT DIRECT REPURCHASE BY THE COMPANY
OF UNVESTED SHARES OF RESTRICTED STOCK
GRANTED UNDER THE 1998 STOCK OPTION AND
INCENTIVE PLAN UPON TERMINATION OF
3 EMPLOYMENT OR SERVICE. Mgmt For For
APPROVAL OF CONSOLIDATED FINANCIAL
4 STATEMENTS FOR FISCAL YEAR 2005. Mgmt For For
RATIFICATION AND APPROVAL OF ERNST &
YOUNG LLP AND AUTHORIZATION OF AUDIT
5 COMMITTEE OF BOARD TO FIX REMUNERATION. Mgmt For For
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-3-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Anglo Irish Bank Accept Financial Statements and
Corporation Plc G03815118 1/27/2006 1 Statutory Reports Mgmt For For
2 Approve Dividends Mgmt For For
3a Reelect F. Drury as Director Mgmt For For
3b Reelect S. FitzPatrick as Director Mgmt For For
3c Reelect M. Jacob as Director Mgmt For For
Authorize Board to Fix Remuneration of
4 Auditors Mgmt For For
Approve Remuneration of Non-executive
5 Directors Mgmt For For
Authorize Share Repurchase Program and
6 Reissuance of Repurchased Shares Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities with
7 Preemptive Rights Mgmt For For
Approve Issuance of Equity or
Equity-Linked Securities without
8 Preemptive Rights Mgmt For For
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Approve Allocation of Income, Including
Asahi Breweries the Following Dividends: Interim JY
Ltd. J02100113 3/30/2006 1 7.5, Final JY 9.5, Special JY 0 Mgmt For For
Amend Articles to: Expand Business
Lines - Decrease Authorized Capital to
Reflect Share Repurchase - Authorize
Public Announcements in Electronic
Format - Update Language of Articles to
2 Reflect New Corporate Law Mgmt For For
3 Approve Executive Stock Option Plan Mgmt For For
4.1 Elect Director Mgmt For For
4.2 Elect Director Mgmt For For
4.3 Elect Director Mgmt For For
4.4 Elect Director Mgmt For For
4.5 Elect Director Mgmt For For
4.6 Elect Director Mgmt For For
4.7 Elect Director Mgmt For For
4.8 Elect Director Mgmt For For
4.9 Elect Director Mgmt For For
5 Approve Retirement Bonuses for Directors Mgmt For For
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DISCUSSION OF ANNUAL REPORT 2005 AND
ASML Holding NV ADOPTION OF THE FINANCIAL STATEMENTS
(Formerly ASM (FY ) 2005, AS PREPARED IN ACCORDANCE
Lithography Hldg) N07059111 3/23/2006 1 WITH DUTCH LAW Mgmt For For
-4-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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DISCHARGE OF THE MEMBERS OF THE BOARD
OF MANAGEMENT ( BOM ) FROM LIABILITY
2 FOR THE FY 2005. Mgmt For For
DISCHARGE OF THE MEMBERS OF THE
SUPERVISORY BOARD FROM LIABILITY FOR
3 THE FY 2005. Mgmt For For
TO AMEND THE ARTICLES OF ASSOCIATION OF
4 THE COMPANY. Mgmt For For
ADOPTION OF THE REVISED REMUNERATION
5 POLICY FOR THE BOM. Mgmt For For
APPROVAL OF THE PERFORMANCE STOCK
ARRANGEMENT FOR THE BOM, AS MORE FULLY
6 DESCRIBED IN THE AGENDA. Mgmt For For
APPROVAL OF THE PERFORMANCE STOCK
OPTION ARRANGEMENT FOR THE BOM, AS MORE
7 FULLY DESCRIBED IN THE AGENDA. Mgmt For For
APPROVAL OF THE STOCK OPTION
ARRANGEMENTS FOR THE ASML EMPLOYEES, AS
8 MORE FULLY DESCRIBED IN THE AGENDA. Mgmt For For
AUTHORIZATION OF THE BOARD OF
MANAGEMENT TO ISSUE 22,000 SIGN-ON
STOCK AND 22,000 SIGN-ON STOCK OPTIONS
9 TO MR. K.P. FUCHS. Mgmt For For
TO RE-APPOINT MR. DEKKER AS MEMBER OF
10 THE SUPERVISORY BOARD. Mgmt For For
TO AUTHORIZE THE BOM FOR A PERIOD OF 18
MONTHS TO ISSUE SHARES OR RIGHTS TO
SUBSCRIBE FOR A LIMIT OF 10% OF THE
11 SHARE CAPITAL. Mgmt For For
TO AUTHORIZE THE BOM FOR A PERIOD OF 18
MONTHS TO RESTRICT OR EXCLUDE THE
PRE-EMPTION RIGHT ACCRUING TO
12 SHAREHOLDERS. Mgmt For For
-5-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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TO AUTHORIZE THE BOM FOR A PERIOD OF 18
MONTHS TO ISSUE SHARES OR RIGHTS TO
SUBSCRIBE FOR AN ADDITIONAL 10% OF THE
13 CAPITAL. Mgmt For For
TO AUTHORIZE THE BOM FOR A PERIOD OF 18
MONTHS FROM MARCH 23, 2006, TO RESTRICT
THE PRE-EMPTION RIGHT ACCRUING TO
14 SHAREHOLDERS Mgmt For For
TO AUTHORIZE THE BOM FOR A PERIOD OF 18
MONTHS TO ACQUIRE OWN SHARES. **VOTING
15 CUT-OFF DATE: MARCH 15, 2006.** Mgmt For For
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Australia and
New Zealand
Banking Group
Ltd. (formerly Receive Financial Statements and
Austr ANZ Q09504137 12/16/2005 1 Statutory Reports Mgmt None None
2 Adopt Remuneration Report Mgmt For For
3a Elect R Deane as Director Mgmt For For
3b Elect D Gonski as Director Mgmt For For
3c Elect C Goode as Director Mgmt For For
4 Amend Constitution Mgmt For For
Amend the Director's Access, Insurance
5 and Indemnity Deed Mgmt For For
Amend the Non-executive Directors'
6 Retirement Scheme Mgmt For For
Approve Remuneration of Directors in
7 the Amount of AUD 3,000,000 Mgmt For For
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Approve Merger by Absorption of Finaxa
Axa (Formerly and Capital Increase in Connection with
Axa-Uap) F06106102 12/16/2005 1 the Merger Mgmt For For
2 Approve Accounting Treatment of Merger Mgmt For For
3 Approve Reduction in Share Capital Mgmt For For
Assume Obligations of 2.75% 1997/2006
4 Convertible Bonds Issued by Finaxa Mgmt For For
Assume Obligations of Stock Options
5 Granted by Finaxa Mgmt For For
Approve Dissolution of Finaxa without
6 Liquidation Mgmt For For
Amend Articles to Reflect Changes in
7 Capital Mgmt For For
-6-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Authorize Issuance of Convertible Bonds
to Holders of Finaxa 3% 1998/2007 Bonds
8 Convertible Into Axa Shares Mgmt None None
Reserve Convertible Bonds Issuance to
9 Holders of Finaxa 3% 1998/2007 Bonds Mgmt None None
Approve Capital Increase Reserved for
Employees Participating in
10 Savings-Related Share Purchase Plan Mgmt Against Against
Authorize Filing of Required
11 Documents/Other Formalities Mgmt For For
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Axa (Formerly Approve Financial Statements and
Axa-Uap) F06106102 5/4/2006 1 Statutory Reports Mgmt For For
Accept Consolidated Financial
2 Statements and Statutory Reports Mgmt For For
Approve Allocation of Income and
3 Dividends of EUR 0.88 per Share Mgmt For For
Approve Special Auditors' Report
4 Regarding Related-Party Transactions Mgmt For For
Election of Norbert Dentressangle as
5 Supervisory Board Member Mgmt For For
Ratify PricewaterhouseCoopers Audit as
6 Auditor Mgmt For For
Ratify Patrick Frotiee as Alternate
7 Auditor Mgmt For For
Authorize Repurchase of Up to Ten
8 Percent of Issued Share Capital Mgmt For For
Approve Reduction in Share Capital via
9 Cancellation of Repurchased Shares Mgmt For For
Authorize Filling of Required
10 Documents/Other Formalities Mgmt For For
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Accept Financial Statements, Statutory
AZIMUT HOLDING Reports and Consolidated Financial
SPA T0783G106 4/26/2006 1 Statements, for the Fiscal Year 2005 Mgmt For For
2 Approve Allocation of Income Mgmt For For
Authorize Share Repurchase Program and
3 Reissuance of Repurchased Shares Mgmt For For
-7-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
4 Elect One Director Mgmt For For
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BAE Systems
PLC (frm.British Accept Financial Statements and
Aerospace Plc ) G06940103 5/4/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
Approve Final Dividend of 6.3 Pence Per
3 Ordinary Share Mgmt For For
4 Re-elect Susan Birley as Director Mgmt For For
Re-elect Christopher Geoghegan as
5 Director Mgmt For For
6 Re-elect Michael Lester as Director Mgmt For For
7 Elect Philip Carroll as Director Mgmt For For
8 Elect Roberto Quarta as Director Mgmt For For
9 Elect Peter Weinberg as Director Mgmt For For
Reappoint KPMG Audit Plc as Auditors of
10 the Company Mgmt For For
Authorise Board to Fix Remuneration of
11 Auditors Mgmt For For
Approve Bae Systems Performance Share
12 Plan 2006 Mgmt For For
13 Approve Bae Systems Share Matching Plan Mgmt For For
Authorise the Company to Make EU
Political Organisations Donations and
Incur EU Political Expenditure up to
14 GBP 100,000 Mgmt For For
Authorise BAE Systems Marine Limited to
Make EU Political Organisations
Donations and Incur EU Political
15 Expenditure up to GBP 100,000 Mgmt For For
Authorise BAE Systems (Operations)
Limited to Make EU Political
Organisations Donations and Incur EU
16 Political Expenditure up to GBP 100,000 Mgmt For For
Authorise BAE Systems Land Systems
(Munitions and Ordnance) Ltd. to Make
EU Political Organisations Donations
and Incur EU Political Expenditure up
17 to GBP 100,000 Mgmt For For
Authorise BAE Systems Land Systems
(Weapons and Vehicles) Ltd. to Make EU
Political Organisations Donations and
Incur EU Political Expenditure up to
18 GBP 100,000 Mgmt For For
Authorise Land Systems Hagglunds AB to
Make EU Political Organisations
Donations and Incur EU Political
19 Expenditure up to GBP 100,000 Mgmt For Against
-8-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
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Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
20 Nominal Amount of GBP 26,829,626 Mgmt For Against
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
21 Nominal Amount of GBP 4,024,846 Mgmt For Against
Authorise 321,987,720 Ordinary Shares
22 for Market Purchase Mgmt For Against
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Accept Financial Statements and
Banca Popolare Statutory Reports for the Fiscal Year
di Milano T15120107 4/28/2006 1 2005 Mgmt For For
Amend External Auditors' Report to
Reflect the New Accounting Principles
2 IAS/IFRS Mgmt For For
Approve Remuneration of Board of
Directors, Executive Committee and
3 Internal Statutory Auditors Mgmt For For
4.1 Elect Board of Directors - Slate 1 Mgmt For For
Appoint Internal Statutory Auditors -
5.1 Slate 1 Mgmt For For
6 Appoint Censors (Collegio dei Probiviri) Mgmt For For
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Accept Financial Statements and
Barclays Plc G08036124 4/27/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
3 Elect Fulvio Conti as Director Mgmt For For
4 Elect Danie Cronje as Director Mgmt For For
5 Elect Robert Diamond Jr. as Director Mgmt For For
6 Elect Robert Steel as Director Mgmt For For
7 Elect John Sunderland as Director Mgmt For For
8 Re-elect Dame Dawson as Director Mgmt For For
Re-elect Sir Richard Broadbent as
9 Director Mgmt For For
10 Re-elect Gary Hoffman as Director Mgmt For For
11 Re-elect Naguib Kheraj as Director Mgmt For For
Re-elect Sir Nigel Rudd as Director
12 Nigel Rudd as Director Mgmt For For
Reappoint PricewaterhouseCoopers LLP as
13 Auditors of the Company Mgmt For For
Authorize Board to Fix Remuneration of
14 Auditors Mgmt For For
Authorise the Company to make EU
Political Organisation Donations up to
GBP 25,000 and Incur EU Political
15 Expenditure up to GBP 25,000 Mgmt For For
-9-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Authorise Barclays Bank plc to make EU
Political Organisation Donations up to
GBP 100,000 and Incur EU Political
16 Expenditure up to GBP 100,000 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
17 Nominal Amount of GBP 541,215,604 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
18 Nominal Amount of GBP 81,182,340 Mgmt For For
Authorise 968,600,000 Ordinary Shares
19 for Market Purchase Mgmt For For
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BHP Billiton
Limited
(Formerly BHP Receive Financial Statements and
Ltd.) BHP Q1498M100 11/25/2005 1 Statutory Reports of BHP Billiton Plc Mgmt For For
Receive Financial Statements and
Statutory Reports of BHP Billiton
2 Limited Mgmt For For
Elect Carlos Cordeiro as a Director of
3 BHP Billiton Plc Mgmt For For
Elect Carlos Cordeiro as Director
4 Billiton Limited Mgmt For For
Elect Gail de Planque as a Director of
5 BHP Billiton Plc Mgmt For For
Elect Gail de Planque as a Director of
6 BHP Billiton Limited Mgmt For For
Elect David Crawford as a Director of
7 BHP Billiton Plc Mgmt For For
Elect David Crawford as a Director of
8 BHP Billiton Limited Mgmt For For
Elect David Jenkins as a Director of
9 BHP Billiton Plc Mgmt For For
Elect David Jenkins as a Director of
10 BHP Billiton Limited Mgmt For For
Elect Mike Salomon as a Director of BHP
11 Billiton Plc Mgmt For For
Elect Mike Salomon as a Director of BHP
12 Billiton Limited Mgmt For For
Approve KPMG Audit Plc as Auditors and
Authorize Board to Fix Their
13 Remuneration Mgmt For For
Approve the Allotment of 531.85 Million
Unissued Shares to Participants of the
Group Incentive Schemes and Other
14 Legacy Employee Share Schemes Mgmt For For
Approve the Issuance of Up to 123.41
15 Million Shares Mgmt For For
16 Authorize Share Repurchase Program Mgmt For For
17 Approve Remuneration Report Mgmt For For
-10-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Stock Option Plan Grants to C W
18 Goodyear, Executive Director Mgmt For For
Approve Stock Option Plan Grants to
19 Mike Salomon, Executive Director Mgmt For For
20 Amend Articles of BHP Billiton Plc Mgmt For For
21 Amend Articles of BHP Billiton Limited Mgmt For For
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BP PLC (Form. Bp TO RECEIVE THE DIRECTORS ANNUAL REPORT
Amoco Plc ) 55622104 4/20/2006 1 AND THE ACCOUNTS Mgmt For For
TO APPROVE THE DIRECTORS REMUNERATION
2 REPORT Mgmt For For
3.1 Elect Director Dr D C Allen Mgmt For For
3.2 Elect Director Lord Browne Mgmt For For
3.3 Elect Director Mr J H Bryan Mgmt For For
3.4 Elect Director Mr A Burgmans Mgmt For For
3.5 Elect Director Mr I C Conn Mgmt For For
3.6 Elect Director Mr E B Davis, Jr Mgmt For For
3.7 Elect Director Mr D J Flint Mgmt For For
3.8 Elect Director Dr B E Grote Mgmt For For
3.9 Elect Director Dr A B Hayward Mgmt For For
3.10 Elect Director Dr D S Julius Mgmt For For
3.11 Elect Director Sir Tom Mckillop Mgmt For For
3.12 Elect Director Mr J A Manzoni Mgmt For For
3.13 Elect Director Dr W E Massey Mgmt For For
3.14 Elect Director Sir Ian Prosser Mgmt For For
3.15 Elect Director Mr M H Wilson Mgmt For For
3.16 Elect Director Mr P D Sutherland Mgmt For For
4 Ratify Auditors Mgmt For For
SPECIAL RESOLUTION: TO GIVE LIMITED
AUTHORITY FOR THE PURCHASE OF ITS OWN
5 SHARES BY THE COMPANY Mgmt For For
TO GIVE AUTHORITY TO ALLOT SHARES UP TO
6 A SPECIFIED AMOUNT Mgmt For For
SPECIAL RESOLUTION: TO GIVE AUTHORITY
TO ALLOT A LIMITED NUMBER OF SHARES FOR
CASH WITHOUT MAKING AN OFFER TO
7 SHAREHOLDERS Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
-11-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
BURBERRY GROUP Accept Financial Statements and
PLC G1699R107 7/14/2005 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
Approve Final Dividend of 4.5 Pence Per
3 Ordinary Share Mgmt For For
4 Elect Brian Blake as Director Mgmt For For
5 Re-elect Rose Bravo as Director Mgmt For For
6 Re-elect Philip Bowman as Director Mgmt For For
Reappoint PricewaterhouseCoopers LLP as
7 Auditors of the Company Mgmt For For
Authorise Board to Fix Remuneration of
8 the Auditors Mgmt For For
Authorise the Company to Make EU
Political Organisation Donations and to
Incur EU Political Expenditure up to
9 Aggregate Nominal Amount of GBP 25,000 Mgmt For Against
Authorise Burberry Limited to Make EU
Political Organisation Donations and to
Incur EU Political Expenditure up to
10 Aggregate Nominal Amount of GBP 25,000 Mgmt For Against
Authorise 48,224,669 Ordinary Shares
11 for Market Purchase Mgmt For For
Authorise the Company to Repurchase
48,224,669 Ordinary Shares from GUS plc
in Accordance with the Terms of
12 Agreement Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
13 Nominal Amount of GBP 80,372 Mgmt For For
Renew the Authority Conferred on
Directors to Allot Shares for Cash in
Connection with a Rights Issue without
Offering Those Shares Pro Rata to
14 Existing Shareholders Mgmt For For
Authorise Issuance of Equity or
Equity-Linked Securities without
Pre-emptive Rights Otherwise than in
Connection with a Rights Issue up to
15 Aggregate Nominal Amount of GBP 12,056 Mgmt For For
Amend Articles of Association Re:
16 Electronic Proxy Voting Service Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
BURBERRY GROUP
PLC G1699R107 12/12/2005 1 Approve the Demerger Agreement Mgmt For For
Amend Articles of Association Re:
2 Preference Shares Mgmt For For
-12-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve the Preference Share Repurchase
Contract Between the Company and the
3 Trustee Mgmt For For
Amend Articles of Association Re:
4 Indemnification Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Business Objects APPROVAL OF THE COMPANY'S STATUTORY
S.A. 12328X107 5/30/2006 1 FINANCIAL STATEMENTS Mgmt For For
APPROVAL OF THE COMPANY'S CONSOLIDATED
2 FINANCIAL STATEMENTS Mgmt For For
ALLOCATION OF THE COMPANY'S EARNINGS
3 FOR THE YEAR ENDED DECEMBER 31, 2005 Mgmt For For
RENEWAL OF THE TERM OF OFFICE OF MR.
4 BERNARD LIAUTAUD Mgmt For For
RENEWAL OF THE TERM OF OFFICE OF MR.
5 JEAN-FRANCOIS HEITZ Mgmt For For
RENEWAL OF THE TERM OF OFFICE OF MR.
6 DAVID PETERSCHMIDT Mgmt For For
7 RATIFICATION OF MR. JOHN SCHWARTZ Mgmt For For
RENEWAL OF THE TERM OF OFFICE OF MR.
8 JOHN SCHWARZ Mgmt For For
9 RATIFICATION OF REGULATED AGREEMENTS Mgmt For Against
10 APPROVAL OF REGULATED AGREEMENTS Mgmt For Against
11 Ratify Auditors Mgmt For For
AUTHORIZATIONGRANTED TO THE BOARD OF
DIRECTORS TO REPURCHASE ORDINARY SHARES
12 OF THE COMPANY Mgmt For For
-13-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
TO REDUCE THE COMPANY'S SHARE CAPITAL
13 BY CANCELLATION OF TREASURY SHARES Mgmt For For
TO ISSUE WARRANTS TO SUBSCRIBE UP TO A
MAXIMUM OF 45,000 ORDINARY SHARES
14 RESERVED FOR MR. JEAN-FRANCOIS HEITZ Mgmt For Against
TO ISSUE WARRANTS TO SUBSCRIBE UP TO A
MAXIMUM OF 45,000 ORDINARY SHARES
15 RESERVED FOR MR. DAVID PETERSCHMIDT Mgmt For Against
TO INCREASE THE COMPANY'S SHARE CAPITAL
16 THROUGH THE ISSUANCE OF ORDINARY SHARES Mgmt For For
17 TO INCREASE THE COMPANY'S SHARE CAPITAL Mgmt For For
TO GRANT OPTIONS TO SUBSCRIBE OR TO
18 PURCHASE ORDINARY SHARES OF THE COMPANY Mgmt For Against
19 TO INCREASE THE COMPANY'S SHARE CAPITAL Mgmt For Against
AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS TO ALLOCATE, FREE OF CHARGE,
20 EXISTING ORDINARY SHARES Mgmt For Against
TO INCREASE THE COMPANY'S SHARES
CAPITAL, WITH SHAREHOLDER PREFERENTIAL
21 SUBSCRIPTION RIGHTS Mgmt For For
TO INCREASE THE COMPANY'S SHARES
CAPITAL, WITHOUT SHAREHOLDER
22 PREFERENTIAL SUBSCRIPTION RIGHTS Mgmt For Against
AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS TO INCREASE THE NUMBER OF
23 ORDINARY SHARES Mgmt For Against
DELEGATION OF AUTHORITY GRANTED TO THE
BOARD OF DIRECTORS TO INCREASE THE
24 COMPANY'S SHARE CAPITAL Mgmt For For
-14-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
DELEGATION OF POWERS GRANTED TO THE
BOARD OF DIRECTORS TO INCREASE THE
25 COMPANY'S SHARE CAPITAL Mgmt For For
APPROVAL OF THE AMENDMENTS OF THE
26 COMPANY'S ARTICLES OF ASSOCIATION Mgmt For For
DELEGATION OF AUTHORITY GRANTED TO THE
BOARD OF DIRECTORS TO PROCEED WITH THE
27 ISSUANCE OF WARRANTS FREE OF CHARGE Mgmt For Against
AUTHORIZATION GRANTED TO THE BOARD OF
DIRECTORS IN THE EVENT OF A PUBLIC
TENDER OFFER EXCHANGE OFFER FOR THE
28 COMPANY Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
Cairn Energy PLC G64399101 4/20/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
Reappoint Ernst & Young LLP as Auditors
and Authorise the Board to Determine
3 Their Remuneration Mgmt For For
4 Re-elect Mike Watts as Director Mgmt For For
5 Re-elect Phil Tracy as Director Mgmt For For
6 Re-elect Todd Hunt as Director Mgmt For For
7 Re-elect Hamish Grossart as Director Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
8 Nominal Amount of GBP 5,327,663.40 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
9 Nominal Amount of GBP 799,149.51 Mgmt For For
Authorise 14.99% of the Ordinary Share
Capital of the Company for Market
10 Purchase Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY
Canon Inc. J05124144 3/30/2006 1 32.5, Final JY 67.5, Special JY 0 Mgmt For For
Amend Articles to: Increase Number of
2 Internal Auditors Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
-15-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
3.16 Elect Director Mgmt For For
3.17 Elect Director Mgmt For For
3.18 Elect Director Mgmt For For
3.19 Elect Director Mgmt For For
3.20 Elect Director Mgmt For For
3.21 Elect Director Mgmt For For
3.22 Elect Director Mgmt For For
3.23 Elect Director Mgmt For For
3.24 Elect Director Mgmt For For
3.25 Elect Director Mgmt For For
3.26 Elect Director Mgmt For For
4.1 Appoint Internal Statutory Auditor Mgmt For Against
4.2 Appoint Internal Statutory Auditor Mgmt For Against
Approve Retirement Bonuses for
5 Directors and Statutory Auditor Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Central European
Media
Enterprises Ltd CETV G20045202 6/7/2006 1.1 Elect Director Ronald S. Lauder Mgmt For For
1.2 Elect Director Charles R. Frank, Jr. Mgmt For For
1.3 Elect Director Michael Garin Mgmt For For
1.4 Elect Director Herbert A. Granath Mgmt For For
1.5 Elect Director Herbert Kloiber Mgmt For For
1.6 Elect Director Alfred W. Langer Mgmt For For
1.7 Elect Director Bruce Maggin Mgmt For For
1.8 Elect Director Ann Mather Mgmt For For
1.9 Elect Director Eric Zinterhofer Mgmt For For
THE ADOPTION OF THE FINANCIAL
STATEMENTS OF THE COMPANY AND THE
AUDITORS REPORT THEREON FOR THE COMPANY
2 S FISCAL YEAR ENDED DECEMBER 31, 2005. Mgmt For For
-16-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
THE APPOINTMENT OF DELOITTE & TOUCHE
LLP AS THE INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM OF THE COMPANY
IN RESPECT OF THE FISCAL YEAR ENDING
DECEMBER 31, 2006 AND THE AUTHORIZATION
OF THE BOARD OF DIRECTORS, ACTING
3 THROUGH THE AUDIT COMMITTEE, TO AP Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Credit Suisse
Group (Formerly
Cs Holding) H3698D419 4/28/2006 1 Share Re-registration Consent Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Credit Suisse
Group (Formerly Accept Financial Statements and
Cs Holding) H3698D419 4/28/2006 1 Statutory Reports Mgmt For For
Approve Discharge of Board and Senior
2 Management Mgmt For For
Approve CHF 17 Million Reduction in
Share Capital via Cancellation of
3 Repurchased Shares Mgmt For For
Approve Allocation of Income and
4 Dividends of CHF 2 per Share Mgmt For For
Reelect Walter Kielholz and Hans-Ulrich
5.1.a Doerig as Directors Mgmt For For
5.1.b Elect Richard Thornburgh as Director Mgmt For For
Ratify KPMG Klynveld Peat Marwick
5.2 Goerdeler SA as Auditors Mgmt For For
5.3 Ratify BDO Visura as Special Auditors Mgmt For For
Approve CHF 3.4 Million Reduction in
Pool of Capital Reserved for Donaldson
6 Lufkin & Jenrette Employee Options Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY
Dentsu Inc. J1207N108 6/29/2006 1 1000, Final JY 1500, Special JY 0 Mgmt For For
Amend Articles to: Amend Business Lines
- Update Terminology to Match that of
New Corporate Law - Limit Liability of
2 Statutory Auditors Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
-17-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
3.16 Elect Director Mgmt For For
4 Appoint Internal Statutory Auditor Mgmt For For
Approve Retirement Bonuses for
5 Directors and Statutory Auditor Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Deutsche Telekom
AG 251566105 5/3/2006 1 THE APPROPRIATION OF NET INCOME. Mgmt For For
THE APPROVAL OF THE ACTIONS OF THE
MEMBERS OF THE BOARD OF MANAGEMENT FOR
2 THE 2005 FINANCIAL YEAR. Mgmt For For
THE APPROVAL OF THE ACTIONS OF THE
MEMBERS OF THE SUPERVISORY BOARD FOR
3 THE 2005 FINANCIAL YEAR. Mgmt For For
4 Ratify Auditors Mgmt For For
AUTHORIZING THE CORPORATION TO PURCHASE
AND USE ITS OWN SHARES INCLUDING USE
WITH THE EXCLUSION OF SUBSCRIPTION
5 RIGHTS. Mgmt For For
THE CREATION OF AUTHORIZED CAPITAL 2006
6 FOR CASH AND/OR NON-CASH CONTRIBUTIONS. Mgmt For For
APPROVAL OF THE SPLIT-OFF AND SHARE
TRANSFER AGREEMENT WITH T-SYSTEMS
7 BUSINESS SERVICES GMBH. Mgmt For For
THE APPROVAL OF THE CONTROL AND PROFIT
AND LOSS TRANSFER AGREEMENT WITH SCS
8 PERSONALBERATUNG GMBH. Mgmt For For
-18-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
THE APPROVAL OF THE CONTROL AND PROFIT
AND LOSS TRANSFER AGREEMENT WITH CASPAR
9 TELEKOMMUNIKATIONSDIENSTE GMBH. Mgmt For For
THE APPROVAL OF THE CONTROL AND PROFIT
AND LOSS TRANSFER AGREEMENT WITH
10 MELCHIOR TELEKOMMUNIKATIONSDIENSTE GMBH. Mgmt For For
THE APPROVAL OF THE CONTROL AND PROFIT
AND LOSS TRANSFER AGREEMENT WITH
BALTHASAR TELEKOMMUNIKATIONSDIENSTE
11 GMBH. Mgmt For For
APPROVAL OF THE CONTROL AGREEMENT WITH
12 T-COM INNOVATIONS-GESELLSCHAFT MBH. Mgmt For For
THE AMENDMENT OF SECTIONS 14 (2) AND
13 (16) OF THE ARTICLES OF INCORPORATION. Mgmt For For
14.1 Elect Director Dr. Thomas Mirow Mgmt For Abstain
Elect Director Mrs. Ingrid
14.2 Matthaus-Maier Mgmt For Abstain
14.3 Elect Director Dr. Mathias Dopfner Mgmt For For
Elect Director Prof. Dr. Wulf von
14.4 Schimmelmann Mgmt For Abstain
14.5 Elect Director Dr. H. Von Grunberg Mgmt For For
14.6 Elect Director Mr. Bernhard Walter Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
East Japan the Following Dividends: Interim JY
Railway Co J1257M109 6/23/2006 1 4000, Final JY 4000, Special JY 0 Mgmt For For
Amend Articles to: Decrease Maximum
Board Size - Authorize Public
Announcements in Electronic Format -
Update Terminology to Match that of New
2 Corporate Law Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
-19-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
3.16 Elect Director Mgmt For For
3.17 Elect Director Mgmt For For
3.18 Elect Director Mgmt For For
3.19 Elect Director Mgmt For For
3.20 Elect Director Mgmt For For
3.21 Elect Director Mgmt For For
3.22 Elect Director Mgmt For For
3.23 Elect Director Mgmt For For
3.24 Elect Director Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
RECEIVE THE FINANCIAL STATEMENTS
Elan Corporation TOGETHER WITH THE REPORTS OF THE
Plc 284131208 5/25/2006 1 DIRECTORS AND AUDITORS THEREON. Mgmt For For
2.1 Elect Director Mr. Laurence Crowley Mgmt For Withhold
2.2 Elect Director Mr. William Daniel Mgmt For For
2.3 Elect Director Mr. Kelly Martin Mgmt For For
2.4 Elect Director Dr. Goran Ando Mgmt For For
2.5 Elect Director Mr. Shane Cooke Mgmt For For
2.6 Elect Director Dr. Lars Ekman Mgmt For For
2.7 Elect Director Mr. Gary Kennedy Mgmt For For
2.8 Elect Director Ms. Nancy Lurker Mgmt For For
AUTHORISE THE DIRECTORS TO FIX THE
3 REMUNERATION OF THE AUDITORS. Mgmt For For
APPROVE THE ELAN CORPORATION, PLC 2006
4 LONG TERM INCENTIVE PLAN. Mgmt For Against
APPROVE THE AMENDMENT TO THE EMPLOYEE
5 EQUITY PURCHASE PLAN. Mgmt For For
AUTHORISE THE DIRECTORS TO ISSUE
6 SECURITIES. Mgmt For For
-20-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
TO AUTHORISE THE DISAPPLICATION OF
PRE-EMPTION RIGHTS ON THE ALLOTMENT OF
7 UP TO 40 MILLION SHARES FOR CASH. Mgmt For For
TO REPLACE ARTICLES 58 AND 59 OF THE
8 ARTICLES OF ASSOCIATION. Mgmt For For
TO REPLACE ARTICLE 62 OF THE ARTICLES
9 OF ASSOCIATION. Mgmt For For
TO AUTHORISE THE COMPANY TO MAKE MARKET
10 PURCHASES OF OWN SHARES. Mgmt For For
TO SET THE RE-ISSUE PRICE RANGE FOR
11 TREASURY SHARES. Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
EnCana
Corporation ECA. 292505104 4/26/2006 1.1 Elect Director Michael N. Chernoff Mgmt For For
1.2 Elect Director Ralph S. Cunningham Mgmt For For
1.3 Elect Director Patrick D. Daniel Mgmt For For
1.4 Elect Director Ian W. Delaney Mgmt For For
1.5 Elect Director Randall K. Eresman Mgmt For For
1.6 Elect Director Michael A. Grandin Mgmt For For
1.7 Elect Director Barry W. Harrison Mgmt For For
1.8 Elect Director Dale A. Lucas Mgmt For For
1.9 Elect Director Ken F. McCready Mgmt For For
1.10 Elect Director Gwyn Morgan Mgmt For For
1.11 Elect Director Valerie A.A. Nielsen Mgmt For For
1.12 Elect Director David P. O'Brien Mgmt For For
1.13 Elect Director Jane L. Peverett Mgmt For For
1.14 Elect Director Dennis A. Sharp Mgmt For For
1.15 Elect Director James M. Stanford Mgmt For For
Ratify PricewaterhouseCoopers LLP as
Auditors and Authorize Board to Fix
2 Remuneration of Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY 31,
Fanuc Ltd. J13440102 6/28/2006 1 Final JY 65, Special JY 0 Mgmt For For
Amend Articles to: Reduce Directors
Term in Office - Limit Rights of
Odd-lot Holders - Limit Liability of
2 Directors and Statutory Auditors Mgmt For For
-21-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
Approve Adjustment to Aggregate
4 Compensation Ceiling for Directors Mgmt For For
Approve Adjustment to Aggregate
Compensation Ceiling for Statutory
5 Auditors Mgmt For For
6 Approve Retirement Bonuses for Directors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Receive Financial Statements and
Fresenius AG D27348107 5/10/2006 1 Statutory Reports Mgmt None None
Approve Allocation of Income and
Dividends of EUR 1.48 per Ordinary
2 Share and EUR 1.51 per Preference Share Mgmt For For
3 Approve Discharge of Management Board Mgmt For For
4 Approve Discharge of Supervisory Board Mgmt For For
Approve Creation of EUR 12.8 Million
and EUR 6.4 Million Pools of Capital
5 without Preemptive Rights Mgmt For For
6 Adopt New Articles of Association Mgmt For For
Ratify KPMG Deutsche
7 Treuhand-Gesellschaft AG as Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Creation of EUR 12.8 Million
and EUR 6.4 Million Pools of Capital
Fresenius AG D27348107 5/10/2006 1 without Preemptive Rights Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
GlaxoSmithKline
PLC (formerly
Glaxo Wellcome TO RECEIVE AND ADOPT THE DIRECTORS
Plc ) 37733W105 5/17/2006 1 REPORT AND THE FINANCIAL STATEMENTS Mgmt For For
2 TO APPROVE THE REMUNERATION REPORT Mgmt For For
3 TO ELECT DR MONCEF SLAOUI AS A DIRECTOR Mgmt For For
4 TO ELECT MR TOM DE SWAAN AS A DIRECTOR Mgmt For For
5 TO RE-ELECT MR LARRY CULP AS A DIRECTOR Mgmt For For
TO RE-ELECT SIR CRISPIN DAVIS AS A
6 DIRECTOR Mgmt For For
-22-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
TO RE-ELECT DR RONALDO SCHMITZ AS A
7 DIRECTOR Mgmt For For
8 Ratify Auditors Mgmt For For
9 REMUNERATION OF AUDITORS Mgmt For For
TO AUTHORISE THE COMPANY TO MAKE
DONATIONS TO EU POLITICAL ORGANISATIONS
10 AND INCUR EU POLITICAL EXPENDITURE Mgmt For Against
11 AUTHORITY TO ALLOT SHARES Mgmt For For
DISAPPLICATION OF PRE-EMPTION RIGHTS
12 (INDICATES A SPECIAL RESOLUTION) Mgmt For For
AUTHORITY FOR THE COMPANY TO PURCHASE
ITS OWN SHARES (INDICATES A SPECIAL
13 RESOLUTION) Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Financial Statements and
Groupe Danone F12033134 4/27/2006 1 Statutory Reports Mgmt For For
Accept Consolidated Financial
2 Statements and Statutory Reports Mgmt For For
Approve Allocation of Income and
3 Dividends of EUR 1.70 per Share Mgmt For For
Approve Special Auditors' Report
4 Regarding Related-Party Transactions Mgmt For For
Reelect Richard Goblet d'Alviella as
5 Director Mgmt For Against
6 Reelect Christian Laubie as Director Mgmt For Against
7 Reelect Jean Laurent as Director Mgmt For For
8 Reelect Hakan Mogren as Director Mgmt For For
9 Reelect Benoit Potier as Director Mgmt For For
Authorize Repurchase of Up to Ten
10 Percent of Issued Share Capital Mgmt For For
Authorize Issuance of Bonds/Debentures
11 in the Aggregate Value of EUR 4 billion Mgmt For For
Approve Employee Savings-Related Share
12 Purchase Plan Mgmt For For
Authorize Filling of Required
13 Documents/Other Formalities Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
Honda Motor Co. the Following Dividends: Interim JY 40,
Ltd. J22302111 6/23/2006 1 Final JY 60, Special JY 0 Mgmt For For
-23-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Amend Articles to: Authorize Board to
Determine Income Allocation - Decrease
Authorized Capital to Reflect Share
Repurchase - Update Terminology to
2 Match that of New Corporate Law Mgmt For Against
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
3.16 Elect Director Mgmt For For
3.17 Elect Director Mgmt For For
3.18 Elect Director Mgmt For For
3.19 Elect Director Mgmt For For
3.20 Elect Director Mgmt For For
Approve Payment of Annual Bonuses to
4 Directors and Statutory Auditors Mgmt For For
5 Approve Retirement Bonus for Director Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Adopt Financial Statements and
Hongkong Land Auditors' Reports and Approve Final
Holdings Ltd. G4587L109 6/14/2006 1 Dividend Mgmt For For
2a Reelect R C Kwok as Director Mgmt For For
2b Reelect A J L Nightingale as Director Mgmt For Against
2c Reelect Percy Weatherall as Director Mgmt For For
3 Approve Directors' Fees Mgmt For For
Reappoint Auditors and Authorize Board
4 to Fix Their Remuneration Mgmt For For
Approve Issuance of Shares without
5 Preemptive Rights Mgmt For For
-24-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
6 Authorize Share Repurchase Program Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
HSBC Holdings Plc G4634U169 5/26/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
3(a) Re-elect Baroness Lydia Dunn as Director Mgmt For For
3(b) Re-elect Michael Geoghegan as Director Mgmt For For
3(c) Re-elect Stephen Green as Director Mgmt For For
Re-elect Sir Mark Moody-Stuart as
3(d) Director Mgmt For For
3(e) Elect Simon Robertson as Director Mgmt For For
3(f) Re-elect Helmut Sohmen as Director Mgmt For For
Re-elect Sir Brian Williamson as
3(g) Director Mgmt For For
Reappoint KPMG Audit plc as Auditors
and Authorise the Audit Committee to
4 Determine Their Remuneration Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
5 Nominal Amount of USD 1,137,200,000 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
6 Nominal Amount of USD 284,300,000 Mgmt For For
Authorise 10 Percent of Ordinary Shares
7 for Market Purchase Mgmt For For
Approve Increase in Remuneration of
8 Non-Executive Directors to GBP 65,000 Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Opening and Approval of the Webcasting
of This Present Meeting and Subsequent
ING Groep NV N4578E413 4/25/2006 1 Shareholders' Meetings Mgmt For For
Receive Report of Executive and
2a Supervisory Board Mgmt None None
Discussion on Profit Retention and
2b Distribution Policy Mgmt None None
Approve Financial Statements and
3a Statutory Reports Mgmt For For
Approve Allocation of Income and
3b Dividends of EUR 1.18 per Share Mgmt For For
4a Approve Discharge of Executive Board Mgmt For For
4b Approve Discharge of Supervisory Board Mgmt For For
Discussion on Company's Corporate
5 Governance Structure Mgmt None None
6a Elect Dick Harryvan to Management Board Mgmt For For
-25-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
6b Elect Tom McInerney to Management Board Mgmt For For
Elect Hans van der Noordaa to
6c Management Board Mgmt For For
Elect Jacques de Vaucleroy to
6d Management Board Mgmt For For
Reelect Cor Herkstroter to Supervisory
7a Board Mgmt For For
Reelect Karel Vuursteen to Supervisory
7b Board Mgmt For For
7c Elect Piet Klaver to Supervisory Board Mgmt For For
Approve Stock Option Grants and
Performance Shares for the Members of
8 Executive Board Mgmt For For
Approve Amendment Pension Scheme of the
9 Executive Board Mgmt For For
Approve Remuneration of Supervisory
10 Board Mgmt For For
Grant Board Authority to Issue 220
Million Ordinary Shares
Restricting/Excluding Preemptive Rights
(Plus 220 Million Ordinary Shares in
11a Connection with Merger) Mgmt For For
Grant Board Authority to Issue 10
Million Preference B Shares in
Connection with Conversion of ING
11b Perpetuals III Mgmt For For
Authorize Repurchase of Up to Ten
12a Percent of Issued Share Capital Mgmt For For
Authorize Repurchase of 24,051,039
Depositary Receipts for Preference A
12b Shares Mgmt For For
Authorize Repurchase Preference A
Shares or Depositary Receipts for
12c Preference A Shares Mgmt For For
Approve Cancellation of Preference A
13 shares Which are Held by ING Groep N.V. Mgmt For For
Approval of the English language as the
Official Language of the Annual Report
14a with Effect From the 2006 Report Mgmt For For
Approval of the English Language as the
Official Language as of the 2007
14b Shareholders' Meeting Mgmt For For
15 Other Business (Non-Voting) Mgmt None None
- -----------------------------------------------------------------------------------------------------------------------------------
-26-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY 25,
Ito En Ltd. JP3143000002 7/28/2005 1 Final JY 45, Special JY 0 Mgmt For For
Amend Articles to: Abolish Retirement
2 Bonus System Mgmt For For
3 Elect Director Mgmt For For
4.1 Appoint Internal Statutory Auditor Mgmt For For
4.2 Appoint Internal Statutory Auditor Mgmt For Against
5 Approve Deep Discount Stock Option Plan Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY 25,
Kao Corp. J30642169 6/29/2006 1 Final JY 25, Special JY 0 Mgmt For For
Amend Articles to: Expand Business
Lines - Limit Outside Statutory
Auditors' Legal Liability - Authorize
Public Announcements in Electronic
2 Format - Limit Rights of Odd-Lot Holders Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
4 Appoint Internal Statutory Auditor Mgmt For For
Appoint Alternate Internal Statutory
5 Auditor Mgmt For For
Approve Deep Discount Stock Option Plan
6 for Directors Mgmt For For
7 Approve Employee Stock Option Plan Mgmt For For
8 Approve Retirement Bonuses for Directors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Kuehne & Nagel
International AG H4673L137 5/2/2006 1 Share Re-registration Consent Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
-27-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Kuehne & Nagel Accept Financial Statements and
International AG H4673L137 5/2/2006 1 Statutory Reports Mgmt For For
Approve Allocation of Income and
2 Dividends of CHF 5.50 per Share Mgmt For For
Approve Discharge of Board and Senior
3 Management Mgmt For For
Reelect Joachim Hausser, Willy
Kissling, Klaus-Michael Kuehne, Georg
Obermeier, and Thomas Staehelin as
4 Directors Mgmt For Against
5 Approve 5:1 Stock Split Mgmt For For
Approve Creation of CHF 20 Million Pool
6 of Capital without Preemptive Rights Mgmt For For
7 Ratify KPMG Fides Peat as Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Ladbrokes PLC
(formerly Hilton Approve Sale of Hilton International
Group PLC) G45098103 1/27/2006 1 Hotels Division Mgmt For For
2 Change Company Name to Ladbrokes plc Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Ladbrokes PLC Approve Final Dividend of 6.6 Pence Per
(formerly Hilton Ordinary Share Pursuant to the Passing
Group PLC) G5337D115 3/29/2006 1 of Item 5 Mgmt For For
Approve Special Dividend of 233.4 Pence
Per Existing Ordinary Share Pursuant to
2 the Passing of Items 3 and 5 Mgmt For For
Approve Sub-Div. of Each Unissued Ord.
Share into 6 Ord. Shares of 1 2/3p;
Share Consolidation of Every 17 Issued
Intermediate Ord. Shares into 1 New
Ord. Share of 28 1/3p and Every 17
Unissued Intermediate Ord. Shares into
3 1 Unissued New Ord. Share Mgmt For For
Authorise 57,254,485 New Ordinary
Shares for Market Purchase Pursuant to
4 Passing of Item 2 & 3 Mgmt For For
5 Adopt New Articles of Association Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
-28-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Ladbrokes PLC
(formerly Hilton Accept Financial Statements and
Group PLC) G5337D107 5/26/2006 1 Statutory Reports Mgmt For For
2 Re-elect Nicholas Jones as Director Mgmt For For
3 Re-elect Sir Ian Robinson as Director Mgmt For For
4 Elect John O'Reilly as Director Mgmt For For
5 Elect Alan Ross as Director Mgmt For For
6 Elect Rosemary Thorne as Director Mgmt For For
Reappoint Ernst & Young LLP as Auditors
and Authorise the Board to Determine
7 Their Remuneration Mgmt For For
8 Approve Remuneration Report Mgmt For For
Approve EU Political Organisation
Donations up to GBP 10,000 and to Incur
EU Political Expenditures up to GBP
10,000; and Authorise Ladbrokes Ltd. to
Make EU Political Donations up to GBP
25,000 and to Incur EU Political
9 Expenditures up to GBP 25,000 Mgmt For For
Approve Increase in Authorised Capital
10 from GBP 230,000,000 to GBP 253,000,000 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
11 Nominal Amount of GBP 54,450,207 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
Nominal Amount of GBP 8,029,922 and up
to Aggregate Nominal Amount of GBP
54,450,207 in Connection with a Rights
12 Issue Mgmt For For
Authorise 56,682,299 Ordinary Shares
13 for Market Purchase Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
LIPMAN
ELECTRONIC
ENGINEERING LTD,
TEL AVIV M6772H101 7/6/2005 1.1 Elect Director Jacob Perry Mgmt For For
1.2 Elect Director Meir Shamir Mgmt For For
1.3 Elect Director Ishay Davidi Mgmt For For
1.4 Elect Director Aharon Lipman Mgmt For For
1.5 Elect Director Rami Lipman Mgmt For For
1.6 Elect Director Mordechai Gorfung Mgmt For For
1.7 Elect Director Jonathan Kaplan Mgmt For For
-29-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
1.8 Elect Director David Rubner Mgmt For For
2 Ratify Auditors Mgmt For For
TO APPROVE AN OPTION GRANT TO TWO
NON-EMPLOYEE DIRECTORS AND TO APPROVE
THE REMUNERATION OF ONE OF THESE
3 DIRECTORS. Mgmt For For
INCREASE THE NUMBER OF OPTIONS
AVAILABLE FOR GRANT UNDER THE COMPANY'S
4 2004 SHARE OPTION PLAN BY 150,000. Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
LIPMAN
ELECTRONIC
ENGINEERING LTD,
TEL AVIV M6772H101 3/27/2006 1.1 Elect Director Jacob Perry Mgmt For For
1.2 Elect Director Meir Shamir Mgmt For For
1.3 Elect Director Ishay Davidi Mgmt For For
1.4 Elect Director Aharon Lipman Mgmt For For
1.5 Elect Director Rami Lipman Mgmt For For
1.6 Elect Director Mordechai Gorfung Mgmt For For
1.7 Elect Director Jonathan Kaplan Mgmt For For
1.8 Elect Director David Rubner Mgmt For For
TO ELECT LINDA HARNEVO AND IZHAK DAVIDI
AS OUTSIDE DIRECTORS TO SERVE FOR A
PERIOD OF THREE YEARS COMMENCING AT THE
END OF THEIR PRESENT TERM ON APRIL 1,
2 2006. Mgmt For For
3 Ratify Auditors Mgmt For For
TO APPROVE AN AMENDMENT TO THE
MANAGEMENT SERVICES AGREEMENT WITH
PERRY JACOB MANAGEMENT SERVICES
LIMITED, A COMPANY CONTROLLED BY JACOB
4 PERRY. Mgmt For For
TO APPROVE THE COMPANY'S 2006 SHARE
5 INCENTIVE PLAN. Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
-30-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
APPROVAL OF THE ANNUAL REPORT, THE
CONSOLIDATED ACCOUNTS OF THE LOGITECH
GROUP AND ACCOUNTS OF LOGITECH
INTERNATIONAL SA FOR FISCAL YEAR 2006.
Logitech REPORT OF THE STATUTORY AND GROUP
International SA 541419107 6/16/2006 1 AUDITORS Mgmt For For
2 SHARE SPLIT ON 2 FOR 1 BASIS Mgmt For For
3 APPROPRIATION OF RETAINED EARNINGS Mgmt For For
4 APPROVAL OF NEW EMPLOYEE STOCK PLAN Mgmt For Against
5 AUTHORIZED INCREASE OF SHARE CAPITAL Mgmt For Against
AUTHORIZATION TO EXCEED 10% HOLDING OF
6 OWN SHARE CAPITAL Mgmt For Against
7 AMENDMENTS TO ARTICLES OF INCORPORATION Mgmt For For
8 DISCHARGE OF THE BOARD OF DIRECTORS Mgmt For For
9 ELECTION OF ERH-HSUN CHANG Mgmt For Against
10 RE-ELECTION OF KEE-LOCK CHUA Mgmt For For
11 ELECTION OF AUDITORS Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
Matsumotokiyoshi the Following Dividends: Interim JY 10,
Co. Ltd. J40885105 6/29/2006 1 Final JY 20, Special JY 0 Mgmt For For
Amend Articles to: Authorize Public
Announcements in Electronic Format -
Update Terminology to Match that of New
Corporate Law - Limit Liability of
2 Directors and Statutory Auditors Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
4 Approve Retirement Bonus for Director Mgmt For For
Approve Retirement Bonus for Outside
5 Director Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
-31-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
MILLEA HOLDINGS the Following Dividends: Interim JY 0,
INC. J4276P103 6/28/2006 1 Final JY 15000, Special JY 0 Mgmt For For
Amend Articles to: Adjust Authorized
Capital to Reflect Share Repurchase and
Stock Split - Limit Liability of
Non-Executive Directors and Statutory
Auditors - Limit Rights of Odd-Lot
Holders - Adjust Share Trading Unit to
2 Reflect Stock Split Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
4.1 Appoint Internal Statutory Auditor Mgmt For For
4.2 Appoint Internal Statutory Auditor Mgmt For For
5 Approve Deep Discount Stock Option Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends on Ordinary
Mitsubishi UFJ Shares: Interim JY 3000, Final JY 4000,
Financial Group J44497105 6/29/2006 1 Special JY 0 Mgmt For For
2 Approve Reduction in Legal Reserves Mgmt For For
Amend Articles to: Decrease Authorized
Preferred Share Capital to Reflect
Share Repurchase - Update Terminology
to Match that of New Corporate Law -
Limit Liability of Directors and
3 Statutory Auditors Mgmt For For
4.1 Elect Director Mgmt For For
4.2 Elect Director Mgmt For For
4.3 Elect Director Mgmt For For
4.4 Elect Director Mgmt For For
4.5 Elect Director Mgmt For For
4.6 Elect Director Mgmt For For
4.7 Elect Director Mgmt For For
4.8 Elect Director Mgmt For For
4.9 Elect Director Mgmt For For
4.10 Elect Director Mgmt For For
-32-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
4.11 Elect Director Mgmt For For
4.12 Elect Director Mgmt For For
4.13 Elect Director Mgmt For For
4.14 Elect Director Mgmt For For
4.15 Elect Director Mgmt For For
Approve Retirement Bonuses for
5 Directors and Statutory Auditors Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
Mitsui O.S.K. the Following Dividends: Interim JY 9,
Lines Ltd. J45013109 6/22/2006 1 Final JY 9, Special JY 0 Mgmt For For
Amend Articles to: Limit Directors' and
Statutory Auditors' Legal Liability -
Limit Rights of Odd-Lot Holders -
Update Terminology to Match that of New
2 Corporate Law Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
4.1 Appoint Internal Statutory Auditor Mgmt For For
4.2 Appoint Internal Statutory Auditor Mgmt For For
5 Approve Director Stock Option Plan Mgmt For For
6 Approve Employee Stock Option Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Muenchener
Rueckversicherungs- Receive Financial Statements and
Gesellschaft AG D55535104 4/19/2006 1 Statutory Reports Mgmt None None
Approve Allocation of Income and
2 Dividends of EUR 3.10 per Share Mgmt For For
Approve Discharge of Management Board
3 for Fiscal 2006 Mgmt For For
Approve Discharge of Supervisory Board
4 for Fiscal 2006 Mgmt For For
Authorize Share Repurchase Program and
5 Reissuance of Repurchased Shares Mgmt For For
Approve Employee Stock Purchase Plan;
Approve Creation of EUR 5 Million Pool
of Capital for Employee Stock Purchase
6 Plan Mgmt For For
Amend Articles Re: Conducting of
Shareholder Meetings due to New German
Legislation (Law on Company Integrity
and Modernization of the Right of
7 Avoidance) Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
-33-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
National Bank of Approve Reports of the Board of
Greece X56533114 4/27/2006 1 Directors and of the Auditor Mgmt For For
Accept Financial Statements and
Statutory Reports and Distribution of
2 Dividend Mgmt For For
3 Approve Discharge of Board and Auditors Mgmt For For
Approve Directors' Remuneration for
2005 and Preapprove Non Executive
4 Directors Remuneration untill 2007 Mgmt For For
Authorize Board and Managers of the
Company to Participate in Boards and
5 Management of Similar Companies Mgmt For For
Ratify Election of Director in
6 Replacement of a Resigned One Mgmt For For
Approve Auditors and Authorize Board to
7 Fix Their Remuneration Mgmt For For
8 Authorize Share Repurchase Program Mgmt For For
Approve/Change in the Use of
Outstanding Funds Raised By the
9 Absorbed National Real Estate SA Mgmt For For
Approve Stock Option Plan and Amend
10 Existing One Mgmt For Against
11 Amend Articles Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities with
Preemptive Rights and Amend Articles
12 Accordingly Mgmt For For
13 Other Business Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
National Bank of Approve Stock Option Plan and Amend
Greece X56533114 5/9/2006 1 Existing One Mgmt For Against
2 Amend Articles Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities with
3 Preemptive Rights Mgmt For For
4 Other Business Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
-34-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
SHARE CAPITAL - SHARES - RESTRICTIONS.
ABOLISH THIS 3% VOTING LIMIT? FOR=NO
CHANGE//AGAINST=NO
Nestle SA H57312466 8/26/2005 1 OPINION//WITHHOLD=ABOLISH THE ARTICLE Mgmt None Against
ORGANISATION OF THE COMPANY - SPECIAL
QUORUM. ABOLISH THE NEED FOR SPECIAL
QUORUMS? FOR=NO CHANGE//AGAINST=NO
2 OPINION//WITHHOLD=ABOLISH THE ARTICLE Mgmt None Against
ORGANISATION OF THE COMPANY - QUALIFIED
MAJORITIES. ABOLISH NEED FOR QUALIFIED
MAJORITIES OF PRESENT SHAREHOLDERS?
FOR=NO CHANGE//AGAINST=NO
3 OPINION//WITHHOLD=ABOLISH THE ARTICLE Mgmt None Against
BOARD OF DIRECTORS - TERM OF OFFICE. IN
VIEW OF THE COMPLEXITY OF THE GROUP, MY
PREFERENCE IS A TERM OF OFFICE
DIRECTORS. FOR=5 YEARS//AGAINST=4
4 YEARS//WITHHOLD=3 YEARS Mgmt None Withhold
AUDITOR - TERM OF OFFICE. IN VIEW OF
THE COMPLEXITY OF THE GROUP, MY
PREFERENCE IS A TERM OF OFFICE FOR
AUDITORS. FOR=3 YEARS//AGAINST=2
5 YEARS//WITHHOLD=1 YEAR Mgmt None Withhold
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
Nestle SA H57312466 4/6/2006 1 Statutory Reports Mgmt For For
Approve Discharge of Board and Senior
2 Management Mgmt For For
Approve Allocation of Income and
3 Dividends of CHF 9 per Share Mgmt For For
Approve CHF 2.8 Million Reduction in
4 Share Capital Mgmt For For
5.1 Reelect Jean-Pierre Meyers as Director Mgmt For For
5.2 Reelect Andre Kudelski as Director Mgmt For For
5.3 Elect Naina Kidwai as Director Mgmt For For
5.4 Elect Jean-Rene Fourtou as Director Mgmt For For
5.5 Elect Steven Hoch as Director Mgmt For For
Amend Articles Re: Mandate Board to
Draft Revised Articles; Waive Quorum
Requirement and Reduce Supermajority
Requirement for Adoption of Revised
6 Articles at 2007 AGM or Later Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
NII Holdings,
Inc. NIHD 62913F201 4/26/2006 1.1 Elect Director Carolyn Katz Mgmt For For
1.2 Elect Director Donald E. Morgan Mgmt For For
1.3 Elect Director George A. Cope Mgmt For For
-35-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
2 Increase Authorized Common Stock Mgmt For For
3 Ratify Auditors Mgmt For For
4 Adjourn Meeting Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Nippon Oil Corp.
(Formerly Nippon Approve Allocation of Income, Including
Mitsubishi Oil the Following Dividends: Interim JY 6,
Co.) J5484F100 6/29/2006 1 Final JY 6, Special JY 0 Mgmt For For
Amend Articles to: Limit Rights of
Odd-lot Holders - Update Terminology to
Match that of New Corporate Law - Limit
Liability of Non-executive Statutory
2 Auditors Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
3.15 Elect Director Mgmt For For
3.16 Elect Director Mgmt For For
3.17 Elect Director Mgmt For For
3.18 Elect Director Mgmt For For
3.19 Elect Director Mgmt For For
3.20 Elect Director Mgmt For For
Approve Adjustment to Aggregate
Compensation Ceiling for Directors and
4 Statutory Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
Nitto Denko the Following Dividends: Interim JY 30,
Corp. J58472119 6/23/2006 1 Final JY 30, Special JY 0 Mgmt For For
Amend Articles to: Limit Rights of
Odd-lot Holders - Update Terminology to
Match that of New Corporate Law - Limit
2 Liability of Statutory Auditors Mgmt For For
-36-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
Approve Stock Option Plan and Deep
Discount Stock Option Plan for
4 Directors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
APPROVAL OF THE INCOME STATEMENTS AND
Nokia Corp. 654902204 3/30/2006 1 THE BALANCE SHEETS. Mgmt For For
PROPOSAL TO THE ANNUAL GENERAL MEETING
2 OF A DIVIDEND OF EUR 0.37 PER SHARE. Mgmt For For
APPROVAL OF THE DISCHARGE OF THE
CHAIRMAN, THE MEMBERS OF THE BOARD OF
DIRECTORS AND THE PRESIDENT FROM
3 LIABILITY. Mgmt For For
APPROVAL OF THE REMUNERATION TO BE PAID
TO THE MEMBERS OF THE BOARD OF
4 DIRECTORS. Mgmt For For
PROPOSAL ON THE NUMBER OF MEMBERS OF
THE BOARD OF DIRECTORS AS PROPOSED BY
THE CORPORATE GOVERNANCE AND NOMINATION
5 COMMITTEE. Mgmt For For
6.1 Elect Director Paul J. Collins Mgmt For For
6.2 Elect Director Georg Ehrnrooth Mgmt For For
6.3 Elect Director Daniel R. Hesse Mgmt For For
6.4 Elect Director Bengt Holmstrom Mgmt For For
6.5 Elect Director Per Karlsson Mgmt For For
6.6 Elect Director Edouard Michelin Mgmt For For
6.7 Elect Director Jorma Ollila Mgmt For For
6.8 Elect Director Marjorie Scardino Mgmt For For
6.9 Elect Director Keijo Suila Mgmt For For
6.10 Elect Director Vesa Vainio Mgmt For For
-37-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
APPROVAL OF THE REMUNERATION TO BE PAID
7 TO THE AUDITOR. Mgmt For For
APPROVAL OF THE RE-ELECTION OF
PRICEWATERHOUSECOOPERS OY AS THE
8 AUDITORS FOR FISCAL YEAR 2006. Mgmt For For
PROPOSAL OF THE BOARD TO REDUCE THE
SHARE CAPITAL THROUGH CANCELLATION OF
9 NOKIA SHARES HELD BY COMPANY. Mgmt For For
AUTHORIZATION TO THE BOARD TO INCREASE
10 THE SHARE CAPITAL OF THE COMPANY. Mgmt For For
AUTHORIZATION TO THE BOARD TO
11 REPURCHASE NOKIA SHARES. Mgmt For For
AUTHORIZATION TO THE BOARD TO DISPOSE
12 NOKIA SHARES HELD BY THE COMPANY. Mgmt For For
MARK THE FOR BOX IF YOU WISH TO
INSTRUCT NOKIA S LEGAL COUNSELS TO VOTE
IN THEIR DISCRETION ON YOUR BEHALF ONLY
13 UPON ITEM 13. Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Amend Articles to: Limit Rights of
Odd-Lot Holders - Update Terminology to
Match that of New Corporate Law - Set
Nomura Holdings Record Dates for Payment of Quarterly
Inc. J59009159 6/28/2006 1 Dividends Mgmt For For
2.1 Elect Director Mgmt For For
2.2 Elect Director Mgmt For For
2.3 Elect Director Mgmt For For
2.4 Elect Director Mgmt For For
2.5 Elect Director Mgmt For For
2.6 Elect Director Mgmt For For
2.7 Elect Director Mgmt For For
2.8 Elect Director Mgmt For For
2.9 Elect Director Mgmt For For
2.10 Elect Director Mgmt For For
2.11 Elect Director Mgmt For For
-38-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Executive Stock Option Plan and
3 Deep-Discount Option Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
Novartis AG H5820Q150 2/28/2006 1 Statutory Reports Mgmt For For
Approve Discharge of Board and Senior
2 Management Mgmt For For
Approve Allocation of Income and
3 Dividends of CHF 1.15 per Share Mgmt For For
Approve CHF 5.1 Million Reduction in
4 Share Capital Mgmt For For
Amend Articles to Remove 12-Year Term
5 Limit for Board Members Mgmt For For
Accept Retirement of Helmut Sihler as
6.1 Director Mgmt For For
6.2.a Reelect Srikant Datar as Director Mgmt For For
6.2.b Reelect William George as Director Mgmt For For
6.2.c Reelect Wendelin Wiedeking as Director Mgmt For For
6.2.d Reelect Rolf Zinkernagel as Director Mgmt For For
6.3 Elect Andreas von Planta as Director Mgmt For For
Ratify PricewaterhouseCoopers AG as
7 Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Panalpina
Welttransport Accept Financial Statements and
(Holding) AG H60147107 5/11/2006 1 Statutory Reports Mgmt For For
Approve Discharge of Board and Senior
2 Management Mgmt For For
Approve Allocation of Income and
3 Dividends of CHF 2 per Share Mgmt For For
Ratify PricewaterhouseCoopers AG as
4 Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Acquisition of a Total of 50
Percent Interest in the Enlarged
Registered Capital of Zhong You Kan Tan
Kai Fa Co. Ltd. (Newco) By Way of
Petrochina Capital Contribution to Newco in an
Company Limited Y6883Q104 8/16/2005 1 Aggregate Amount of RMB 20.7 Billion Mgmt For For
Approve Transfer by the Company of the
Entire Issued Capital of PetroChina
International Ltd. to Newco at a Cash
2 Consideration of RMB 579.4 Million Mgmt For For
Approve Supplemental Comprehensive
Agreement and Continuing Connected
3a Transactions Mgmt For For
Approve Annual Limits of Continuing
3b Connected Transactions Mgmt For For
Authorize the Chief Financial Officer
of the Company to Do All Acts Necessary
to Implement the Supplemental
Comprehensive Agreement, Continuing
Connected Transactions, and Proposed
4 Caps Mgmt For For
-39-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Petrochina
Company Limited Y6883Q104 11/8/2005 1 Elect Su Shulin as Director Mgmt For For
2 Elect Gong Huazhang as Director Mgmt For Against
3 Elect Wang Yilin as Director Mgmt For Against
4 Elect Zeng Yukang as Director Mgmt For Against
5 Elect Jiang Fan as Director Mgmt For For
Elect Chee-Chen Tung as Independent
6 Director Mgmt For For
7 Elect Liu Hongru as Independent Director Mgmt For For
8 Elect Wang Fucheng as Supervisor Mgmt For For
9 Elect Wen Qingshan as Supervisor Mgmt For For
Elect Li Yongwu as Independent
10 Supervisor Mgmt For For
Elect Wu Zhipan as Independent
11 Supervisor Mgmt For For
Approve Second Supplemental
12 Comprehensive Agreement Mgmt For Against
Approve CRMSC Products and Services
13 Agreement Mgmt For For
14 Approve Ongoing Connected Transactions Mgmt For Against
Approve Annual Caps of the Ongoing
Connected Transactions Except the
Annual Limit in Respect of the Products
and Services to be Provided to China
Railway Materials and Suppliers Corp.
(CRMSC) Under the CRMSC Products and
15 Services Agreement Mgmt For Against
Approve Annual Caps in Respect of the
Products and Services to be Provided to
CRMSC Under the CRMSC Products and
16 Services Agreement Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Petrochina
Company Limited Y6883Q104 5/26/2006 1 Accept Report of the Board of Directors Mgmt For For
Accept Report of the Supervisory
2 Committee Mgmt For For
Accept Financial Statements and
3 Statutory Reports Mgmt For For
4 Approve Final Dividend Mgmt For For
Authorize Board to Distribute Interim
5 Dividend Mgmt For For
Reappoint PricewaterhouseCoopers and
PricewaterhouseCoopers Zhong Tian CPAs
Company Limited as International and
Domestic Auditors Respectively and
Authorize Board to Fix Their
6 Remuneration Mgmt For For
7 Reelect Zheng Hu as Director Mgmt For For
Reelect Franco Bernabe as Independent
8 Non-Executive Director Mgmt For For
Approve Issuance of Equity or
Equity-Linked Securities without
9 Preemptive Rights Mgmt For Against
-40-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
10 Other Business Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Philips
Electronics Nv N6817P109 3/30/2006 1 Speech President Mgmt None None
Approve Financial Statements and
2a Statutory Reports Mgmt For For
Explanation of Policy on Additions To
2b Reserves and Dividends Mgmt None None
Approve Dividend of EUR 0.44 ($0.52)per
2c Share Mgmt For For
2d Approve Discharge of Management Board Mgmt For For
2e Approve Discharge of Supervisory Board Mgmt For For
Elect T.W.H. van Deursen to Management
3a Board Mgmt For For
Elect F.A. van Houten to Management
3b Board Mgmt For For
3c Elect J.A. Karvinen to Management Board Mgmt For For
3d Elect R.S. Provoost to Management Board Mgmt For For
3e Elect A. Ragnetti to Management Board Mgmt For For
Reelect W. de Kleuver to Supervisory
4a Board Mgmt For For
Reelect Richard Greenbury to
4b Supervisory Board Mgmt For For
Proposal to Amend the Remuneration
5a Policy for Management Board Mgmt For For
Proposal to Amend the Maximum
Percentage of The Annual LTIP Pool-size
To Be Allocated To Members of
5b Management Board Mgmt For For
Cancellation of Shares Held by the
6a Company Mgmt For For
Amend Articles to Reflect Changes in
6b Capital Mgmt For For
Grant Board Authority to Issue Shares
Up To 10 Percent of Issued Capital Plus
Additional 10 Percent in Case of
Takeover/Merger Restricting/Excluding
7 Preemptive Rights Mgmt For For
Authorize Repurchase of Up to Ten
8 Percent of Issued Share Capital Mgmt For For
9 Other Business (Non-Voting) Mgmt None None
- -----------------------------------------------------------------------------------------------------------------------------------
Precision Approve Plan of Arrangement to Convert
Drilling Trust PD.U 74022D100 10/31/2005 1 to Trust Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Elect Robert J.S. Gibson, Patrick M.
Precision Murray and H. Garth Wiggins as Trustees
Drilling Trust PD.U 740215108 5/9/2006 1 of the Trust Mgmt For For
-41-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Elect W.C. (Mickey) Dunn, Brian A.
Felesky, Robert J.S. Gibson, Patrick M.
Murray, Frederick W. Pheasey, Robert L.
Phillips, Hank B. Swartout and H. Garth
Wiggins as Directors of Precision
2 Drilling Corporation Mgmt For For
3 Ratify KPMG LLP as Auditors Mgmt For For
4 Other Business Mgmt For Withhold
- -----------------------------------------------------------------------------------------------------------------------------------
PUMA AG Rudolf Receive Financial Statements and
Dassler Sport D62318148 4/27/2006 1 Statutory Reports Mgmt None None
Approve Allocation of Income and
2 Dividends of EUR 2.00 per Share Mgmt For For
Approve Discharge of Management Board
3 for Fiscal 2005 Mgmt For For
Approve Discharge of Supervisory Board
4 for Fiscal 2005 Mgmt For For
Ratify PricewaterhouseCoopers AG as
5 Auditors for Fiscal 2006 Mgmt For For
Elect Guenter Herz to the Supervisory
6.1 Board Mgmt For For
Elect Rainer Kutzner to the Supervisory
6.2 Board Mgmt For For
Elect Hinrich Stahl als Alternate
6.3 Supervisory Board Member Mgmt For For
Authorize Share Repurchase Program and
Reissuance or Cancellation of
7 Repurchased Shares Mgmt For For
Amend Articles Re: Calling of and
Registration for Shareholder Meetings
due to New German Legislation (Law on
Company Integrity and Modernization of
8 the Right of Avoidance) Mgmt For For
Amend Articles Re: Conducting of
Shareholder Meetings due to New German
Legislation (Law on Company Integrity
and Modernization of the Right of
9 Avoidance) Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Reckitt
Benckiser Plc
(Formerly
Reckitt & Colman Accept Financial Statements and
Plc ) G7420A107 5/4/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
Approve Final Dividend of 21 Pence Per
3 Ordinary Share Mgmt For For
4 Re-elect Bart Becht as Director Mgmt For For
5 Re-elect Peter Harf as Director Mgmt For For
6 Elect Gerard Murphy as Director Mgmt For For
Reappoint PricewaterhouseCoopers LLP as
7 Auditors of the Company Mgmt For For
Authorise Board to Fix Remuneration of
8 Auditors Mgmt For For
-42-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
9 Nominal Amount of GBP 25,360,000 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
10 Nominal Amount of GBP 3,804,000 Mgmt For For
Authorise 72,280,000 Ordinary Shares
11 for Market Purchase Mgmt For For
Approve Increase in Remuneration of
12 Non-Executive Directors to GBP 1,000,000 Mgmt For For
Approve Reckitt Benckiser Long-Term
13 Incentive Plan Mgmt For For
Amend Reckitt Benckiser 2005
Savings-Related Share Option Plan, 2005
Global Stock Profit Plan, 2005 USA
Savings-Related Share Option Plan and
Senior Executive Share Ownership Policy
14 Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Elect Michael Lazardis, James
Balsillie, Douglas Fregin, Kendall
Research In Cork, James Estill, John Richardson and
Motion Ltd RIM 760975102 7/18/2005 1 Douglas Wright as Directors Mgmt For For
Approve Ernst & Young LLP as Auditors
and Authorize Board to Fix Remuneration
2 of Auditors Mgmt For For
3 Approve Restricted Share Unit Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Rio Tinto Plc AUTHORITY TO ALLOT RELEVANT SECURITIES
(Formerly Rtz UNDER SECTION 80 OF THE COMPANIES ACT
Corp. Plc) 767204100 4/12/2006 1 1985 Mgmt For For
AUTHORITY TO ALLOT EQUITY SECURITIES
FOR CASH UNDER SECTION 89 OF THE
2 COMPANIES ACT 1985 Mgmt For For
AUTHORITY TO PURCHASE RIO TINTO PLC
SHARES BY THE COMPANY OR RIO TINTO
3 LIMITED Mgmt For For
-43-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
ADOPTION OF NEW ARTICLES OF ASSOCIATION
OF RIO TINTO PLC AND AMENDMENTS TO
4 CONSTITUTION OF RIO TINTO LIMITED Mgmt For For
5 ELECTION OF TOM ALBANESE Mgmt For For
6 ELECTION OF SIR ROD EDDINGTON Mgmt For For
7 RE-ELECTION OF SIR DAVID CLEMENTI Mgmt For For
8 RE-ELECTION OF LEIGH CLIFFORD Mgmt For For
9 RE-ELECTION OF ANDREW GOULD Mgmt For For
10 RE-ELECTION OF DAVID MAYHEW Mgmt For For
11 Ratify Auditors Mgmt For For
12 APPROVAL OF THE REMUNERATION REPORT Mgmt For For
RECEIVE THE ANNUAL REPORT AND FINANCIAL
STATEMENTS FOR THE YEAR ENDED 31
13 DECEMBER 2005 * Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Royal Bank Of
Scotland Group Accept Financial Statements and
Plc (The) G76891111 4/28/2006 1 Statutory Reports Mgmt For For
2 Approve Remuneration Report Mgmt For For
Approve Final Dividend of 53.1 Pence
3 Per Ordinary Share Mgmt For For
4 Re-elect Bob Scott as Director Mgmt For For
5 Re-elect Peter Sutherland as Director Mgmt For For
6 Re-elect Colin Buchan as Director Mgmt For For
7 Elect Sir Tom McKillop as Director Mgmt For For
8 Elect Janis Kong as Director Mgmt For For
9 Elect Guy Whittaker as Director Mgmt For For
10 Elect Johnny Cameron as Director Mgmt For For
11 Elect Mark Fisher as Director Mgmt For For
12 Elect Bill Friedrich as Director Mgmt For For
Reappoint Deloitte & Touche LLP as
13 Auditors of the Company Mgmt For For
Authorise Board to Fix Remuneration of
14 Auditors Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
15 Nominal Amount of GBP 266,482,100 Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
16 Nominal Amount of GBP 39,972,315 Mgmt For For
Authorise 319,778,520 Ordinary Shares
17 for Market Purchase Mgmt For For
-44-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve EU Political Donations up to
GBP 250,000 and Incur EU Political
18 Expenditure up to GBP 250,000 Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
APPROVAL OF THE BALANCE SHEET, INCOME
STATEMENT AND STATEMENT OF
APPROPRIATION OF RETAINED EARNINGS FOR
THE 37TH FISCAL YEAR (FROM JANUARY 1,
Samsung 2005 TO DECEMBER 31, 2005), AS SET
Electronics Co. FORTH IN THE COMPANY'S NOTICE OF
Ltd. 796050888 2/28/2006 1 MEETING ENCLOSED HEREWITH. Mgmt For For
APPROVAL OF THE APPOINTMENT OF
DIRECTORS: (A) INDEPENDENT DIRECTORS:
GWI-HO CHUNG, JAE-SUNG HWANG, OH SOO
2 PARK, CHAE-WOONG LEE AND DONG-MIN YOON. Mgmt For For
APPROVAL OF THE APPOINTMENT OF
DIRECTORS: (B) EXECUTIVE DIRECTORS:
KUN-HEE LEE, JONG-YONG YUN, YOON-WOO
3 LEE AND DOH-SEOK CHOI Mgmt For For
APPROVAL OF THE APPOINTMENT OF
DIRECTORS: (C) AUDIT COMMITTEE:
4 JAE-SUNG HWANG AND CHAE-WOONG LEE. Mgmt For For
APPROVAL OF THE COMPENSATION CEILING
FOR THE DIRECTORS, AS SET FORTH IN THE
COMPANY'S NOTICE OF MEETING ENCLOSED
5 HEREWITH. Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Sanofi-Aventis
(Formerly
Sanofi-Synthelabo ) Approve Financial Statements and
F5548N101 5/31/2006 1 Statutory Reports Mgmt For For
Accept Consolidated Financial
2 Statements and Statutory Reports Mgmt For For
Approve Allocation of Income and
3 Dividends of EUR 1.52 per Share Mgmt For For
Approve Special Auditors' Report
4 Regarding Related-Party Transactions Mgmt For For
5 Reelect Lord Douro as Director Mgmt For For
6 Elect Gerard Le Fur as Director Mgmt For For
7 Ratify Ernst & Young Audit as Auditor Mgmt For For
8 Ratify Auditex as Alternate Auditor Mgmt For For
-45-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Remuneration of Directors in
9 the Aggregate Amount of EUR 1.2 Million Mgmt For For
Authorize Repurchase of Up to Ten
10 Percent of Issued Share Capital Mgmt For For
Approve Merger by Absorption of Rhone
Cooper by Sanofi-Aventis, Approve its
Remuneration, and Approve Capital
11 Increase in Connection with the Merger Mgmt For Against
12 Allocation of Merger Premium Mgmt For Against
Acknowledge Definitive Realisation of
Merger on May 31, 2006, and Capital
13 Increase in Connection with the Merger Mgmt For Against
Amend Articles of Association Re:
Change in Capital Pursuant to Items
14 Above Mgmt For Against
Amend Articles of Association Board
15 Related Re: Term of Mandate of Chairman Mgmt For For
Authorize Filling of Required
16 Documents/Other Formalities Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Receive Financial Statements and
SAP AG D66992104 5/9/2006 1 Statutory Reports Mgmt None None
Approve Allocation of Income and
2 Dividends of EUR 1.45 per Share Mgmt For For
Approve Discharge of Management Board
3 for Fiscal Year 2005 Mgmt For For
Approve Discharge of Supervisory Board
4 for Fiscal Year 2005 Mgmt For For
Ratify KPMG Deutsche
Treuhand-Gesellschaft AG as Auditors
5 for Fiscal Year 2006 Mgmt For For
Approve EUR 950 Million Capitalization
6 of Reserves Mgmt For For
Amend Articles Re: Supervisory Board
7 Remuneration Mgmt For For
Approve Creation of EUR 180 Million
Pool of Capital with Preemptive Rights
8a (Conditional Capital Ia) Mgmt For For
-46-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Creation of EUR 180 Million
Pool of Capital without Preemptive
8b Rights (Conditional Capital IIa) Mgmt For For
Authorize Share Repurchase Program and
9 Reissuance of Repurchased Shares Mgmt For For
Authorize Use of Financial Derivatives
10 Method When Repurchasing Shares Mgmt For Against
Approve Issuance of Convertible Bonds
and/or Bonds with Warrants Attached up
to Aggregate Nominal Amount of EUR 5
Billion with Preemptive Rights; Approve
Creation of EUR 25 Million Pool of
Capital to Guarantee Conversion Rights
11a (Conditional Capital IV) Mgmt For For
Approve Issuance of Convertible Bonds
and/or Bonds with Warrants Attached up
to Aggregate Nominal Amount of EUR 5
Million with Preemptive Rights; Approve
Creation of EUR 75 Million Pool of
Capital to Guarantee Conversion Rights
11b (Conditional Capital IVa) Mgmt For For
Approve Affiliation Agreements with
12 Subsidiaries Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Schlumberger
Ltd. SLB 806857108 4/12/2006 1.1 Elect Director J. Deutch Mgmt For For
1.2 Elect Director J.S. Gorelick Mgmt For For
1.3 Elect Director A. Gould Mgmt For For
1.4 Elect Director T. Isaac Mgmt For For
1.5 Elect Director A. Lajous Mgmt For For
1.6 Elect Director A. Levy-Lang Mgmt For For
1.7 Elect Director M.E. Marks Mgmt For For
1.8 Elect Director D. Primat Mgmt For For
1.9 Elect Director T.I. Sandvold Mgmt For For
1.10 Elect Director N. Seydoux Mgmt For For
1.11 Elect Director L.G. Stuntz Mgmt For For
1.12 Elect Director R. Talwar Mgmt For For
ADOPTION AND APPROVAL OF FINANCIALS AND
2 DIVIDENDS Mgmt For For
ADOPTION OF AMENDMENT TO THE ARTICLES
3 OF INCORPORATION Mgmt For For
-47-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
APPROVAL OF AMENDMENT AND RESTATEMENT
OF THE SCHLUMBERGER 2005 STOCK OPTION
4 PLAN Mgmt For For
APPROVAL OF INDEPENDENT REGISTERED
5 PUBLIC ACCOUNTING FIRM Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
Seven & I the Following Dividends: Interim JY 0,
Holdings Co Ltd J7165H108 5/25/2006 1 Final JY 28.5, Special JY 0 Mgmt For For
2 Approve Reduction in Legal Reserves Mgmt For For
Amend Articles to: Expand Business
Lines - Limit Legal Liability of
Non-executive Statutory Auditors -
Limit Rights of Odd-Lot Holders -
Update Terminology to Match that of New
3 Corporate Law Mgmt For For
4.1 Elect Director Mgmt For For
4.2 Elect Director Mgmt For For
4.3 Elect Director Mgmt For For
4.4 Elect Director Mgmt For For
4.5 Elect Director Mgmt For For
4.6 Elect Director Mgmt For For
4.7 Elect Director Mgmt For For
4.8 Elect Director Mgmt For For
4.9 Elect Director Mgmt For For
4.10 Elect Director Mgmt For For
4.11 Elect Director Mgmt For For
4.12 Elect Director Mgmt For For
4.13 Elect Director Mgmt For For
4.14 Elect Director Mgmt For For
4.15 Elect Director Mgmt For For
4.16 Elect Director Mgmt For For
5.1 Appoint Internal Statutory Auditor Mgmt For For
5.2 Appoint Internal Statutory Auditor Mgmt For For
5.3 Appoint Internal Statutory Auditor Mgmt For For
5.4 Appoint Internal Statutory Auditor Mgmt For For
5.5 Appoint Internal Statutory Auditor Mgmt For For
Approve Increase in Aggregate
Compensation Ceilings for Directors and
6 Statutory Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
-48-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY
Shimizu Corp. J72445117 6/29/2006 1 3.5, Final JY 3.5, Special JY 0 Mgmt For For
Amend Articles to: Expand Business
Lines - Limit Rights of Odd-lot Holders
- Update Terminology to Match that of
New Corporate Law - Limit Liability of
2 Non-Executive Statutory Auditors Mgmt For For
3.1 Appoint Internal Statutory Auditor Mgmt For For
3.2 Appoint Internal Statutory Auditor Mgmt For Against
3.3 Appoint Internal Statutory Auditor Mgmt For For
Approve Retirement Bonuses for Director
and Statutory Auditors and Special
Payments to Continuing Directors and
Statuory Auditors in Connection with
4 Abolition of Retirement Bonus System Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Shoppers Drug
Mart Corp. SC. 82509W103 5/4/2006 1.1 Elect Director M. Shan Atkins Mgmt For For
1.2 Elect Director Krystyna Hoeg Mgmt For For
1.3 Elect Director Holger Kluge Mgmt For For
1.4 Elect Director Eva Kwok Mgmt For For
1.5 Elect Director Dean Metcalf Mgmt For For
1.6 Elect Director Glenn K. Murphy Mgmt For For
1.7 Elect Director David Peterson Mgmt For For
1.8 Elect Director Derek Ridout Mgmt For For
1.9 Elect Director Leslee J. Thompson Mgmt For For
1.10 Elect Director David M. Williams Mgmt For For
Approve Deloitte & Touche LLP as
Auditors and Authorize Board to Fix
2 Remuneration of Auditors Mgmt For For
3 Adopt New General By-law No. 3B Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Receive Supervisory Board Report,
Corporate Governance Report, and
Siemens AG D69671218 1/26/2006 1 Compensation Report Mgmt None None
Receive Financial Statements and
2 Statutory Reports Mgmt None None
Approve Allocation of Income and
3 Dividends of EUR 1.35 per Share Mgmt For For
Approve Discharge of Management Board
4 for Fiscal 2004/2005 Mgmt For For
Approve Discharge of Supervisory Board
5 for Fiscal 2004/2005 Mgmt For For
-49-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Ratify KPMG Deutsche
Treuhand-Gesellschaft AG as Auditors
6 for Fiscal 2005/2006 Mgmt For For
Authorize Share Repurchase Program and
Reissuance or Cancellation of
7 Repurchased Shares Mgmt For For
Approve Creation of EUR 75 Million Pool
of Capital to Guarantee Conversion
8 Rights under Stock Option Plans Mgmt For For
Amend Articles Re: Calling of,
Registration for, and Conducting of
Shareholder Meetings due to New German
Legislation (Law on Company Integrity
and Modernization of the Right of
9 Avoidance) Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
SUMITOMO MITSUI the Following Dividends on Ordinary
FINANCIAL GROUP Shares: Interim JY 0, Final JY 3000,
INC. J7771X109 6/29/2006 1 Special JY 0 Mgmt For For
2 Approve Reduction in Legal Reserves Mgmt For For
Authorize Share Repurchase Program for
3 Ordinary and Preferred Shares Mgmt For For
Amend Articles to: Decrease Authorized
Preferred Share Capital - Limit
Liability of Non-Executive Directors
and Statutory Auditors - Update
Terminology to Match That of New
4 Corporate Law Mgmt For For
5.1 Elect Director Mgmt For For
5.2 Elect Director Mgmt For For
5.3 Elect Director Mgmt For For
6 Appoint Internal Statutory Auditor Mgmt For Against
Approve Retirement Bonuses for Director
7 and Statutory Auditor Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Sun Hung Kai Accept Financial Statements and
Properties Ltd. Y82594121 12/8/2005 1 Statutory Reports Mgmt For For
2 Approve Final Dividend Mgmt For For
3a1 Reelect Li Ka-cheung, Eric as Director Mgmt For For
Reelect Wong Yue-chim, Richard as
3a2 Director Mgmt For For
3a3 Reelect Lee Shau-kee as Director Mgmt For For
-50-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3a4 Reelect Chan Kui-yen, Thomas as Director Mgmt For For
3a5 Reelect Chan Kai-ming as Director Mgmt For For
3a6 Reelect Kwong Chun as Director Mgmt For For
Reelect Wong Yick-kam, Michael as
3a7 Director Mgmt For For
3a8 Reelect Wong Chik-wing, Mike as Director Mgmt For For
3b Fix the Directors' Remuneration Mgmt For For
Reappoint Auditors and Authorize Board
4 to Fix Their Remuneration Mgmt For For
Approve Repurchase of Up to 10 Percent
5 of Issued Capital Mgmt For For
Approve Issuance of Equity or
Equity-Linked Securities without
6 Preemptive Rights Mgmt For Against
Authorize Reissuance of Repurchased
7 Shares Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Suncor Energy Inc SU. 867229106 4/26/2006 1.1 Elect Director Mel E. Benson Mgmt For For
1.2 Elect Director Brian A. Canfield Mgmt For For
1.3 Elect Director Bryan P. Davies Mgmt For For
1.4 Elect Director Brian A. Felesky Mgmt For For
1.5 Elect Director John T. Ferguson Mgmt For For
1.6 Elect Director W. Douglas Ford Mgmt For For
1.7 Elect Director Richard L. George Mgmt For For
1.8 Elect Director John R. Huff Mgmt For For
1.9 Elect Director M. Ann McCaig Mgmt For For
1.10 Elect Director Michael W. O'Brien Mgmt For Withhold
1.11 Elect Director JR Shaw Mgmt For For
1.12 Elect Director Eira M. Thomas Mgmt For For
Ratify PricewaterhouseCoopers as
2 Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Synthes Inc 87162M409 4/20/2006 1 Other Business Mgmt For Against
2 Other Business Mgmt For Against
Accept Financial Statements and
3 Statutory Reports Mgmt For For
Approve University Prof. Dr. Norbert
4 Haas, Charite Berlin as a Guest Speaker Mgmt For For
Receive Financial Statements and
5 Statutory Reports Mgmt For For
Receive the Report on Dividend Approved
6 by the Board of Directors Mgmt For For
Elect Directors David Helfet, Andre
7 Muller and Hansjorg Wyss Mgmt For Against
8 Ratify Auditors Mgmt For For
9 Other Business Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
-51-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Takeda Approve Allocation of Income, Including
Pharmaceutical the Following Dividends: Interim JY 53,
Co. Ltd. J8129E108 6/29/2006 1 Final JY 53, Special JY 0 Mgmt For For
Amend Articles to: Authorize Public
Announcements in Electronic Format -
Update Terminology to Match that of New
2 Corporate Law Mgmt For For
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
4 Approve Retirement Bonus for Director Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Talisman Energy
Inc. TLM. 87425E103 5/9/2006 1.1 Elect Director Douglas D. Baldwin Mgmt For For
1.2 Elect Director James W. Buckee Mgmt For For
1.3 Elect Director William R.P. Dalton Mgmt For For
1.4 Elect Director Kevin S. Dunne Mgmt For For
1.5 Elect Director Lawrence G. Tapp Mgmt For For
1.6 Elect Director Stella M. Thompson Mgmt For For
1.7 Elect Director Robert G. Welty Mgmt For For
1.8 Elect Director Charles R. Williamson Mgmt For For
1.9 Elect Director Charles W. Wilson Mgmt For For
2 Ratify Ernst & Young LLP as Auditors Mgmt For For
3 Approve Stock Split Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Telefonica S.A.
(Formerly Approve Individual and Consolidated
Telefonica De Financial Statements, Allocation of
Espana, S.A.) 879382109 6/20/2006 1 Income, and Discharge Directors Mgmt For For
Approve Merger by Absorption of
Telefonica Moviles SA; Adopt
2 Consolidated Tax Regime Mgmt For For
Reelect Carlos Colomer Casellas as
3.1 Director Mgmt For For
3.2 Reelect Isidro Faine Casas as Director Mgmt For For
Reelect Alfonso Ferrari Herrero as
3.3 Director Mgmt For For
3.4 Reelect Luis Lada Diaz as Director Mgmt For For
Reelect Antonio Massanell Lavilla as
3.5 Director Mgmt For For
Ratify the Appointment of David Arculus
3.6 as Director Mgmt For For
Ratify the Appointment of Peter Erskine
3.7 as Director Mgmt For For
Ratify the Appointment of Julio Linares
3.8 Lopez as Director Mgmt For For
Ratify the Appointment of Vitalino
3.9 Manuel Nafria Aznar as Director Mgmt For For
-52-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
4 Approve Equity-Based Incentive Plan Mgmt For For
5 Authorize Repurchase of Shares Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities without
6 Preemptive Rights Mgmt For For
Authorize Board to Ratify and Execute
7 Approved Resolutions Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Teva TO RECEIVE AND DISCUSS THE COMPANY'S
Pharmaceutical CONSOLIDATED BALANCE SHEET AND THE
Industries 881624209 7/27/2005 1 CONSOLIDATED STATEMENTS OF INCOME Mgmt For For
TO APPROVE THE BOARD OF DIRECTORS
RECOMMENDATION THAT THE CASH DIVIDEND
2 FOR THE YEAR ENDED DECEMBER 31, 2004 Mgmt For For
TO APPOINT DR. LEORA (RUBIN) MERIDOR AS
A STATUTORY INDEPENDENT DIRECTOR FOR AN
3 ADDITIONAL TERM OF THREE YEARS Mgmt For For
TO ELECT ELI HURVITZ TO SERVE FOR AN
4 ADDITIONAL THREE-YEAR TERM Mgmt For For
TO ELECT RUTH CHESHIN TO SERVE FOR AN
5 ADDITIONAL THREE-YEAR TERM Mgmt For For
TO ELECT PROF. MICHAEL SELA TO SERVE
6 FOR AN ADDITIONAL THREE-YEAR TERM Mgmt For For
TO ELECT HAROLD SNYDER TO SERVE FOR AN
7 ADDITIONAL THREE-YEAR TERM Mgmt For For
TO APPROVE THE PURCHASE OF DIRECTOR S
AND OFFICER S LIABILITY INSURANCE FOR
THE DIRECTORS AND OFFICERS OF THE
8 COMPANY Mgmt For Against
TO APPROVE THE COMPANY'S 2005 OMNIBUS
9 LONG-TERM SHARE INCENTIVE PLAN Mgmt For Against
-53-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
TO APPROVE AN AMENDMENT TO PROVISIONS
OF THE COMPANY'S ARTICLES RELATING TO
THE INDEMNIFICATION OF DIRECTORS AND
10 OFFICERS Mgmt For For
TO APPROVE AN AMENDMENT TO THE COMPANYS
ARTICLES THAT WOULD INCREASE THE
11 REGISTERED SHARE CAPITAL OF THE COMPANY Mgmt For For
TO APPOINT KESSELMAN & KESSELMAN, A
MEMBER OF PRICEWATERHOUSECOOPERS
INTERNATIONAL LTD., AS THE COMPANY'S
INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM AND TO DETERMINE THEIR
12 COMPENSATION Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
TO APPROVE THE ISSUANCE OF ORDINARY
SHARES OF TEVA, PURSUANT TO THE
AGREEMENT AND PLAN OF MERGER, DATED
JULY 25, 2005, BY AND AMONG IVAX
Teva CORPORATION, TEVA AND TWO WHOLLY OWNED
Pharmaceutical SUBSIDIARIES OF TEVA, IVORY ACQUISITION
Industries 881624209 10/27/2005 1 SUB, INC. AND IVORY ACQUISITION SUB II Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
TO RECEIVE AND DISCUSS THE COMPANY'S
CONSOLIDATED BALANCE SHEET AS OF
Teva DECEMBER 31, 2005 AND THE CONSOLIDATED
Pharmaceutical STATEMENTS OF INCOME FOR THE YEAR THEN
Industries 881624209 5/4/2006 1 ENDED. Mgmt For For
TO APPROVE THE BOARD OF DIRECTORS
RECOMMENDATION THAT THE CASH DIVIDEND
FOR THE YEAR ENDED DECEMBER 31, 2005 BE
2 DECLARED FINAL. Mgmt For For
TO APPOINT PROF. GABRIELA SHALEV AS A
STATUTORY INDEPENDENT DIRECTOR FOR AN
3 ADDITIONAL TERM OF THREE YEARS. Mgmt For For
TO ELECT THE FOLLOWING DIRECTOR TO
SERVE FOR A THREE-YEAR TERM: DR.
4 PHILLIP FROST Mgmt For For
-54-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
TO ELECT THE FOLLOWING DIRECTOR TO
5 SERVE FOR A THREE-YEAR TERM: CARLO SALVI Mgmt For For
TO ELECT THE FOLLOWING DIRECTOR TO
SERVE FOR A THREE-YEAR TERM: DAVID
6 SHAMIR Mgmt For For
TO APPROVE THE PURCHASE OF DIRECTOR S
AND OFFICER S LIABILITY INSURANCE FOR
THE DIRECTORS AND OFFICERS OF THE
7 COMPANY. Mgmt For Against
TO APPROVE AN AMENDMENT TO SECTION
60(E) OF THE COMPANY'S ARTICLES OF
8 ASSOCIATION. Mgmt For For
TO APPROVE AN INCREASE IN THE
REMUNERATION PAID TO THE DIRECTORS OF
THE COMPANY (OTHER THAN THE CHAIRMAN OF
9 THE BOARD). Mgmt For For
TO APPOINT KESSELMAN & KESSELMAN, AS
THE INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM AND DETERMINE THEIR
10 COMPENSATION. Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
The India Fund,
Inc. 454089103 3/16/2006 1 Approve Investment Advisory Agreement Mgmt For For
2 Approve Investment Advisory Agreement Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
The India Fund,
Inc. 454089103 4/28/2006 1.1 Elect Director Lawrence K. Becker Mgmt For For
1.2 Elect Director Peter G. Peterson Mgmt For For
1.3 Elect Director Jeswald W. Salacuse Mgmt For For
1.4 Elect Director Prakash A. Melwani Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Total SA
(Formerly Total Approve Financial Statements and
Fina Elf S.A ) F92124100 5/12/2006 1 Statutory Reports Mgmt For For
Accept Consolidated Financial
2 Statements and Statutory Reports Mgmt For For
Approve Allocation of Income and
3 Dividends of EUR 6.48 per Share Mgmt For For
Approve Accounting Transfer from
Special Long-Term Capital Gains Reserve
4 Account to Other Reserves Account Mgmt For For
-55-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Special Auditors' Report
5 Regarding Related-Party Transactions Mgmt For For
Authorize Repurchase of Up to Ten
6 Percent of Issued Share Capital Mgmt For For
7 Reelect Anne Lauvergeon as Director Mgmt For For
8 Reelect Daniel Bouton as Director Mgmt For Against
9 Reelect Bertrand Collomb as Director Mgmt For For
Reelect Antoine Jeancourt-Galignani as
10 Director Mgmt For For
11 Reelect Michel Pebereau as Director Mgmt For Against
12 Reelect Pierre Vaillaud as Director Mgmt For For
13 Elect Christophe de Margerie as Mgmt For Against
Director Approve Partial Spin-Off
14 Agreement to Arkema Mgmt For For
15 Approve 1-for-4 Stock Split Mgmt For For
Amend Article 11 Regarding the Number
16 of Shares to Be Held By Directors Mgmt For For
Amend Article 11 to Require a Majority
A of Independent Directors on Board ShrHoldr Against For
Grant a Second Board Mandate to an
B Employee Shareholder Representative ShrHoldr Against Against
- -----------------------------------------------------------------------------------------------------------------------------------
Trican Well
Service Ltd. TCW. 895945103 5/10/2006 1 Fix Number of Directors at Six Mgmt For For
2.1 Elect Director Kenneth M. Bagan Mgmt For For
2.2 Elect Director Gary R. Bugeaud Mgmt For For
2.3 Elect Director Murray L. Cobbe Mgmt For For
2.4 Elect Director Donald R. Luft Mgmt For For
2.5 Elect Director Douglas F. Robinson Mgmt For For
2.6 Elect Director Victor J. Stobbe Mgmt For For
Ratify KPMG LLP as Auditors and
Authorize Board to Fix Remuneration of
3 Auditors Mgmt For For
4 Approve 2:1 Stock Split Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
UBS AG H8920M855 4/19/2006 1 Statutory Reports Mgmt For For
Approve Allocation of Income and
2 Dividends of CHF 3.20 per Share Mgmt For For
Approve Discharge of Board and Senior
3 Management Mgmt For For
4.1.1 Reelect Rolf Meyer as Director Mgmt For For
4.1.2 Reelect Ernesto Bertarelli as Director Mgmt For For
-56-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Elect Gabrielle Kaufmann-Kohler as
4.2.1 Director Mgmt For For
4.2.2 Elect Joerg Wolle as Director Mgmt For For
4.3 Ratify Ernst & Young Ltd. as Auditors Mgmt For For
4.4 Ratify BDO Visura as Special Auditors Mgmt For For
Approve CHF 29.7 Million Reduction in
Share Capital via Cancellation of
5.1 Repurchased Shares Mgmt For For
Authorize Repurchase of Issued Share
5.2 Capital Mgmt For For
Approve Reduction in Share Capital via
5.3 Capital Repayment of CHF 0.60 per Share Mgmt For For
5.4 Approve 2:1 Stock Split Mgmt For For
Amend Articles to Reflect Changes in
5.5.1 Capital Mgmt For For
Amend Articles Re: Capital Holding
Requirement for Submitting Shareholder
5.5.2 Proposals Mgmt For For
Approve Creation of CHF 15 Million Pool
of Capital without Preemptive Rights to
6 Service Existing Stock Option Plan Mgmt For Against
- -----------------------------------------------------------------------------------------------------------------------------------
Veolia
Environnement
(Formerly
Vivendi Approve Financial Statements and
Environment) F9686M107 5/11/2006 1 Statutory Reports Mgmt For For
Accept Consolidated Financial
2 Statements and Statutory Reports Mgmt For For
3 Approve Expenses and Charges Mgmt For For
Approve Allocation of Income and
4 Dividends of EUR 0.85 per Share Mgmt For For
Approve Standard Accounting Transfer
from Special Long-Term Capital Gains
Reserve Account to Ordinary Reserve
5 Account Mgmt For For
Approve Special Auditors' Report
6 Regarding Related-Party Transactions Mgmt For Against
Approve Transaction with a Related
Party Re: Change or End of Functions of
7 a Corporate Officer Mgmt For For
8 Reelect Daniel Bouton as Director Mgmt For Against
9 Elect Jean-Francois Dehecq as Director Mgmt For Against
-57-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
10 Reelect Jean-Marc Espalioux as Director Mgmt For Against
11 Reelect Paul Louis Girardot as Director Mgmt For Against
12 Reelect Serge Michel as Director Mgmt For Against
13 Reelect Georges Ralli as Director Mgmt For Against
14 Reelect Murray Stuart as Director Mgmt For Against
Approve Remuneration of Directors in
15 the Aggregate Amount of EUR 770,000 Mgmt For For
Authorize Repurchase of Up to Ten
16 Percent of Issued Share Capital Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities with
Preemptive Rights up to Aggregate
17 Nominal Amount of EUR 1 Billion Mgmt For For
Authorize Issuance of Equity or
Equity-Linked Securities without
Preemptive Rights up to Aggregate
18 Nominal Amount of EUR 400 Million Mgmt For For
Authorize Capitalization of Reserves of
Up to EUR 370 Million for Bonus Issue
19 or Increase in Par Value Mgmt For For
Authorize Board to Increase Capital
with Preemptive Rights in the Event of
Additional Demand Related to
Delegations Submitted to Shareholder
20 Vote Above Mgmt For For
Authorize Board to Increase Capital
without Preemptive Rights in the Event
of Additional Demand Related to
Delegations Submitted to Shareholder
21 Vote Above Mgmt For Against
Authorize Capital Increase of up to 10
Percent of Issued Capital for Future
22 Acquisitions Mgmt For Against
Approve Employee Savings-Related Share
23 Purchase Plan Mgmt For For
24 Approve Stock Option Plans Grants Mgmt For For
Authorize up to 0.5 Percent of Issued
25 Capital for Use in Restricted Stock Plan Mgmt For Against
Approve Reduction in Share Capital via
26 Cancellation of Repurchased Shares Mgmt For For
-58-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Authorize Filling of Required
27 Documents/Other Formalities Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Vestas Wind
System AS K9773J128 4/25/2006 1 Receive Report of Board Mgmt None None
Receive and Approve Financial
2 Statements and Statutory Reports Mgmt For For
Approve Treatment of Net Loss and
3 Omission of Dividends Mgmt For For
Approve Discharge of Management and
4 Board Mgmt For For
Reelect Bent Carlsen, Arne Pedersen,
Joergen Rasmussen, Torsten Rasmussen,
Joern Thomsen, and Freddy Frandsen as
Directors; Elect Kurt Nielsen as New
5 Director Mgmt For For
Reappoint PricewaterhouseCoopers and
6 KPMG C. Jespersen as Auditors Mgmt For For
Extend Authorization to Create DKK 18.5
Million Pool of Capital without
7.1 Preemptive Rights Until January 1, 2011 Mgmt For For
Extend Authorization to Issue 1.8
Million Shares for Employee Share
7.2 Issuance Plan Until January 1, 2011 Mgmt For Against
Extend Authorization to Issue Warrants
to Key Employees and/or Board Members
without Preemptive Rights up to Nominal
Amount of DKK 368,000 until January 1,
7.3 2011 Mgmt For Against
Amend Articles Re: Allow Company to
Hold General Meetings in Central
Jutland or in the Greater Copenhagen
7.4 Area Mgmt For For
Authorize Repurchase of Up to Ten
7.5 Percent of Issued Share Capital Mgmt For For
8 Other Business (Non-Voting) Mgmt None None
- -----------------------------------------------------------------------------------------------------------------------------------
Wal-Mart de
Mexico S.A. de
C.V. (frmrly.
Cifra S.A.) P98180105 2/28/2006 1 Accept Chairman's Report Mgmt For For
2 Accept Audit Committe's Report Mgmt For For
3 Accept Supervisory Board Report Mgmt For For
Accept Financial Statements for Fiscal
4 Year Ended December 2005 Mgmt For For
Present Report on the Share Repurchase
5 Reserves Mgmt For For
Approve Cancellation of 201.5 Million
6 Company Treasury Shares Mgmt For For
-59-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Modifications to Article 5 in
the Bylaws Re: Changes in Variable and
7 Fixed Capital Mgmt For For
8 Approve Allocation of Income Mgmt For For
Approve Dividend of MXN 0.38 per Share
9 or Stock Calculated as of March 22, 2006 Mgmt For For
Approve MXN 3.28 Million Variable
Capital Increase Through Issuance of
164.3 Million Common Shares To Be Paid
10 Back as Dividends at MXN 20 per Share Mgmt For For
Accept Report Re: Employee Stock
11 Purchase Plan Mgmt For Against
Accept Report Re: Wal-Mart de Mexico
12 Foundation Mgmt For For
Approve Discharge of the Board of
13 Directors Mgmt For For
Elect or Ratify Members of the Board of
14 Directors and Supervisory Board Mgmt For For
15 Approve Minutes of Meeting Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
WPP Group Plc G97974102 9/26/2005 1 Approve Scheme of Arrangement Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Scheme of Arrangement;
Reduction and Increase of Cap.; Issue
Equity with Pre-emp. Rights up to GBP
175M; Amend Art. of Assoc; Amend
Incentive Schemes; Approve New WPP
Reduction of Cap.; Change Co. Name to
WPP 2005 plc; Approve De-listing of
WPP Group Plc G97974102 9/26/2005 1 Shares Mgmt For For
Approve WPP 2005 Executive Stock Option
2 Plan Mgmt For For
Approve WPP 2005 Worldwide Ownership
3 Plan Mgmt For For
Amend WPP Group plc 2004 Leadership
4 Equity Acquisition Plan Mgmt For For
5 Amend WPP Performance Share Plan Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Accept Financial Statements and
WPP Group Plc G9787H105 6/27/2006 1 Statutory Reports Mgmt For For
Approve Final Dividend of 6.34 Pence
2 Per Ordinary Share Mgmt For For
-60-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3 Elect Colin Day as Director Mgmt For For
4 Re-elect Philip Lader as Director Mgmt For For
5 Re-elect Esther Dyson as Director Mgmt For For
6 Re-elect Orit Gadiesh as Director Mgmt For For
7 Re-elect David Komansky as Director Mgmt For For
Re-elect Christopher Mackenzie as
8 Director Mgmt For For
9 Re-elect Stanley Morten as Director Mgmt For For
10 Re-elect Koichiro Naganuma as Director Mgmt For For
11 Re-elect Lubna Olayan as Director Mgmt For For
12 Re-elect John Quelch as Director Mgmt For For
13 Re-elect Jeffrey Rosen as Director Mgmt For For
14 Re-elect Paul Spencer as Director Mgmt For For
Reappoint Deloitte & Touche LLP as
Auditors and Authorise the Board to
15 Determine Their Remuneration Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
16 Nominal Amount of GBP 48,704,061.37 Mgmt For For
Authorise 125,022,397 Ordinary Shares
17 for Market Purchase Mgmt For For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
18 Nominal Amount of GBP 6,251,119.84 Mgmt For For
19 Approve Remuneration Report Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Allocation of Income, Including
the Following Dividends: Interim JY 0,
Yamada Denki Co. J95534103 6/29/2006 1 Final JY 25, Special JY 0 Mgmt For For
Amend Articles to: Increase Authorized
Capital - Limit Rights of Odd-Lot
Holders - Update Terminology to Match
2 that of New Corporate Law Mgmt For Against
3.1 Elect Director Mgmt For For
3.2 Elect Director Mgmt For For
3.3 Elect Director Mgmt For For
3.4 Elect Director Mgmt For For
3.5 Elect Director Mgmt For For
3.6 Elect Director Mgmt For For
3.7 Elect Director Mgmt For For
3.8 Elect Director Mgmt For For
-61-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
3.9 Elect Director Mgmt For For
3.10 Elect Director Mgmt For For
3.11 Elect Director Mgmt For For
3.12 Elect Director Mgmt For For
3.13 Elect Director Mgmt For For
3.14 Elect Director Mgmt For For
4 Appoint Internal Statutory Auditor Mgmt For For
Approve Adjustment to Aggregate
5 Compensation Ceiling for Directors Mgmt For For
Approve Adjustment to Aggregate
Compensation Ceiling for Statutory
6 Auditors Mgmt For For
Approve Retirement Bonuses for
7 Directors and Statutory Auditors Mgmt For For
- -----------------------------------------------------------------------------------------------------------------------------------
Zenon
Environmental Approve Continuation of Company Under
Inc. 98942B100 5/3/2006 1 Provincial Business Corporation Act Mgmt For For
2 Approve Acquisition Mgmt For For
-62-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
National Bank of Greece X56533114 5/23/2006 Approve Stock Option Plan and Amend
1 Existing One Mgmt For
2 Amend Articles Mgmt For
Authorize Issuance of Equity or
Equity-Linked Securities with
3 Preemptive Rights Mgmt For
4 Other Business Mgmt For
- -----------------------------------------------------------------------------------------------------------------------------------
National Bank of Greece X56533114 6/1/2006 Approve Stock Option Plan and Amend
1 Existing One Mgmt For
2 Amend Articles Mgmt For
Authorize Issuance of Equity or
Equity-Linked Securities with
3 Preemptive Rights Mgmt For
4 Other Business Mgmt For
- -----------------------------------------------------------------------------------------------------------------------------------
SHAMIR OPTICAL INDUSTRY LTD M83683108 7/18/2005 1.1 Elect A. Netzer as External Director Mgmt For
1.2 Elect A. Samuels as External Director Mgmt For
Approve Cash Compensation of External
2 Directors Mgmt For
Approve Stock Option Plan Grants to
3 External Directors Mgmt For
- -----------------------------------------------------------------------------------------------------------------------------------
Vodafone Group PLC G93882101 7/26/2005 Accept Financial Statements and
1 Statutory Reports Mgmt For
Re-elect Lord MacLaurin of Knebworth
2 as Director Mgmt For
3 Re-elect Paul Hazen as Director Mgmt For
4 Re-elect Arun Sarin as Director Mgmt For
Re-elect Sir Julian Horn-Smith as
5 Director Mgmt For
6 Re-elect Peter Bamford as Director Mgmt For
7 Re-elect Thomas Geitner as Director Mgmt For
8 Re-elect Michael Boskin as Director Mgmt For
9 Re-elect Lord Broers as Director Mgmt For
10 Re-elect John Buchanan as Director Mgmt For
11 Re-elect Penny Hughes as Director Mgmt For
12 Re-elect Jurgen Schrempp as Director Mgmt For
13 Re-elect Luc Vandevelde as Director Mgmt For
14 Elect Sir John Bond as Director Mgmt For
15 Elect Andrew Halford as Director Mgmt For
Approve Final Dividend of 2.16 Pence
16 Per Ordinary Share Mgmt For
-63-
PROXY VOTE SUMMARY REPORT FROM 07/01/05 TO 06/30/06
SIT INTERNATIONAL GROWTH FUND
Fund
Meeting Mgmt. Vote
Issuer Symbol CUSIP Date Ballot Issues Proponent Rec. Cast
- -----------------------------------------------------------------------------------------------------------------------------------
Approve Remuneration Report Mgmt For
17 Reappoint Deloitte & Touche LLP as
Auditors of the Company Mgmt For
18 Authorise the Audit Committee to Fix
19 Remuneration of the Auditors Mgmt For
Authorise the Company and Any Company
Which is or Becomes a Subsidiary of
the Company to Make EU Political
Organisation Donations up to GBP
50,000 and Incur EU Political
20 Expenditure up to GBP 50,000 Mgmt For
Authorise Issue of Equity or
Equity-Linked Securities with
Pre-emptive Rights up to Aggregate
21 Nominal Amount of USD 900,000,000 Mgmt For
Authorise Issue of Equity or
Equity-Linked Securities without
Pre-emptive Rights up to Aggregate
22 Nominal Amount of USD 320,000,000 Mgmt For
Authorise 6,400,000,000 Ordinary Shares
23 for Market Purchase Mgmt For
Amend Memorandum of Association and
Articles of Association Re:
24 Indemnification of Directors Mgmt For
Approve the Vodafone Global Incentive
25 Plan Mgmt For
-64-
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 International Growth Fund, a series of Sit Mutual Funds, Inc.
-------------------------------------------------------------------
By (Signature and Title)* /s/ Paul E. Rasmussen, Vice President
------------------------------------------------------
Date March 8, 2007
---------------------------------------------------------------------------
* Print the name and title of each signing officer under his or her signature.